Latest news with #GlobalX
Yahoo
16 hours ago
- Business
- Yahoo
3 ETFs with Dividend Yields of 12% or Higher for Your Income Portfolio
Exchange-traded fund (ETF) inflows hit a record $1.9 trillion in 2024, pushing total ETF assets to $14.7 trillion. However, with 10-year U.S. Treasury yields hovering near 4.4%, income-hungry investors face a situation in which traditional ETFs struggle to compete. This has prompted a shift toward innovative strategies aimed at securing higher yields. Warren Buffett Famously Warned to 'Make Money While You Sleep' or 'You Will Work Until You Die': 5 Stocks To Invest Like Buffett 3 ETFs with Dividend Yields of 12% or Higher for Your Income Portfolio Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! Three notable funds are reshaping the income investing landscape by offering yields that far exceed conventional alternatives. Each one uses advanced covered call strategies on major indexes, turning volatile markets into reliable monthly income streams. The Global X Nasdaq 100 Covered Call ETF (QYLD) tracks the CBOE NASDAQ-100 BuyWrite V2 Index. With assets under management reaching $8.38 billion, QYLD's annual distribution rate sits at 14.13%, paying out distributions monthly. The fund maintains positions in all stocks in the Nasdaq 100 Index ($IUXX) and simultaneously sells call options on the index, effectively covering 100% of its portfolio. This strategy is aimed at collecting option premiums, which are distributed monthly. While this delivers a robust income stream, the tradeoff comes in the form of capped upside during sharp rallies. The fund's expense ratio is 0.6%, which is competitive given the complexity of its options strategy and the steady cash flow it aims to provide. The ETF is down 8.7% in the year to date and is down 6.7% over the past year. The NEOS S&P 500 High Income ETF (SPYI) is a product of NEOS Funds and began trading on Aug. 31, 2022. The ETF also pays out monthly distributions and has a 12-month distribution rate of 12.65%. This ETF is built on the back of the S&P 500 Index ($SPX), but it's not just a passive tracker. It holds the stocks in the benchmark index, and then in addition to selling call options on the index, its managers buy put options on the same index. This creates a 'collar' effect, aiming to retain more of the upside potential of its holdings if the market breaks out to the upside. SPYI manages $3.9 billion in assets. The fund's expense ratio is 0.68%, which is in line with its active approach and complex strategy. SPYI is down 2.4% in the year to date and 1.9% over the past 52 weeks. The ProShares S&P 500 High Income ETF (ISPY) brings a new twist to the high-yield ETF space. Tracking the S&P 500 Daily Covered Call Index, ISPY is the first ETF to implement a daily covered call overlay on the S&P 500. This means that rather than the typical monthly or weekly cadence, ISPY writes fresh out-of-the-money call options every single trading day, using swap agreements to access the full S&P 500 portfolio and maximize option premium capture. This high-frequency approach is designed to exploit the rapid time decay of daily options, allowing the fund to reset its strike price each day and adjust to changing market conditions. The result is a steady stream of elevated income, with the added benefit of some downside protection if markets turn choppy. However, this daily reset also means that returns are more closely tethered to short-term market swings, and the fund may lag in strong, sustained bull runs since upside is capped. Its 12-month distribution rate is 12.82%, and like QYLD and SPYI, it pays out distributions monthly. ISPY's assets under management stand at $740.3 million, and the fund charges an expense ratio of 0.55%, which is competitive for an actively managed, options-driven ETF. ISPY is down 7.9% in the year to date and 6.3% over the past 52 weeks. High-yield covered call ETFs like QYLD, SPYI, and ISPY offer a compelling way to boost monthly income, though they do sacrifice some growth potential for those generous payouts. Considering the current volatile investing environment, it's reasonable to expect these ETFs to stay relevant for income seekers in 2025. On the date of publication, Ebube Jones did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Effettua l'accesso per consultare il tuo portafoglio
Cision Canada
3 days ago
- Business
- Cision Canada
BetaPro by Global X Expands Canada's Largest Leveraged ETF Suite with New 3x and -3x U.S. Index ETFs & Announces Fee Rebates Français
With announced rebate, new ETFs from Canada's leader in leveraged funds are the lowest-cost 3x and –3x ETFs currently available in the world TORONTO, June 17, 2025 /CNW/ - Global X Investments Canada Inc. (" Global X" or the " Manager") is announcing the launch of four new ETFs (the " New ETFs") within its BetaPro by Global X (" BetaPro") suite that provide three-times (" 3x") and minus three-times (" -3x") exposure to the Nasdaq-100 ® and S&P 500 ® indices – the highest amount of leverage available in Canada through exchange traded funds (" ETFs") without exemptive relief. Units of the ETFs begin trading today on the Toronto Stock Exchange (" TSX"). BetaPro is the first, largest and longest-running family of leveraged, inverse, and inverse-leveraged ETFs in Canada. With more than 17 years of trading in Canada across 32 ETFs, BetaPro by Global X is the Canadian leader in this ETF category. In addition to the launch, the Manager is simultaneously announcing a 50-basis points rebate (the " Rebates") on the New ETFs until December 31, 2025. For the duration of the Rebates, the effective management fee for the New ETFs is 0.65%, making them the lowest-cost 3x and –3x ETFs currently available, globally. " From launching the world's first leveraged commodities ETFs in 2008 to its position today as Canada's leading leveraged, inverse and inverse leveraged ETF family, BetaPro has been the source for sophisticated traders in Canada seeking effective ETFs solutions for amplifying exposure," said Chris McHaney, Executive Vice President, Investment Management & Strategy at Global X. " In addition to adding 3x and –3x to Canada's largest suite of leveraged, inverse and inverse leveraged ETFs, we're offering a sizeable fee rebate, making these new ETFs the lowest cost of their kind, anywhere in the world, during the rebate." The New ETFs offer amplified exposure for sophisticated investors to two of the largest and most actively traded U.S. benchmarks – the S&P 500 ® and the Nasdaq-100 ® (the " Underlying Index"). Currency movements can introduce unwanted noise and reduce the precision of tactical trades. The New ETFs employ currency hedging to seek to neutralize U.S. dollar exposure, providing performance that more accurately reflects the underlying U.S. equity indices. More details on the New ETFs are outlined in the table below: *Plus applicable sales tax The New ETFs are designed to provide daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to 300% of the daily performance of the specified Underlying Index, or 300% of the inverse of the daily performance of the specified Underlying Index. The ETFs do not seek to achieve their stated investment objective over a period of time greater than one day and are not for investors who do not intend to actively monitor their investments daily. Any U.S. dollar gains or losses as a result of the ETFs' investments will be hedged back to the Canadian dollar to the best of their ability. The Canadian Advantage: Investing in Canadian-listed vs. U.S.-listed 3x and –3x ETFs: Historically, Canadians seeking to access 3x and –3x ETFs have had to turn to the U.S. market for access. According to Investor Economics, Canadians currently hold an estimated $4 billion CAD in U.S.-listed leveraged, inverse and inverse leveraged funds. Now, with their expansion into Canada, Canadians have the choice to invest in 3x and –3x ETFs listed on the TSX, which could potentially result in improved tax and currency outcomes, relative to investing in U.S.-listed alternatives. By trading funds on foreign exchanges, including those in the U.S., Canadian investors holding those assets are exposed to foreign currency exposure risk and potential tax implications, such as U.S. estate tax, as well as additional tax filings. Unless a Canadian investor has a U.S. dollar trading account, they will have to convert from Canadian dollars into U.S. dollars each time they enter and exit the ETF. Considering these investments are meant for daily, short-term, tactical trades, those costs can significantly undercut the efficiency of U.S.-listed 3x and -3x ETFs, which are also designed for daily usage. " Since the start of 2025, Canadians have been looking for alternatives to U.S. products, so it only makes sense to offer them a way to repatriate some of their investment dollars," said Chris McHaney. "As Canada's leader in leveraged, inverse, and inverse leveraged ETFs, we wanted to give sophisticated Canadian traders a better way to harness market volatility and magnify their exposure, here at home." Data from the Chicago Board Options Exchange's Volatility Index shows volatility has recently picked up, with the highest spike recorded in April of this year, highlighting the potential for continued opportunity for sophisticated active traders. Inverse strategies, including –3x ETFs, can also be used to potentially profit off a short-term pullback. The launch of the 3x leveraged and 3x inverse leverage ETFs expands BetaPro's already extensive lineup of leveraged, inverse, and inverse-leveraged ETFs for sophisticated investors to 32, spanning four market indices, five major Canadian sectors, four major commodities, as well as an inverse bitcoin-focused ETF. Until recently, the highest available Canadian-listed ETFs that provided a fixed percentage of leverage on a particular index, sector of commodity were only available were up a maximum of 2x and -2x. The Rebates are effective upon the launch of the New ETFs. The New ETFs are still subject to operating expenses, which are included in the Management Expense Ratio (" MER") and are still subject to trading costs which are included in the Trading Expense Ratio (" TER"). The New ETFs closed their initial offering of units to their designated broker and will begin trading today on the TSX. About Global X Investments Canada Inc. ( Global X Investments Canada Inc. ("Global X") is an innovative financial services company and offers one of the largest suites of exchange traded funds in Canada. The Global X product family includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Global X has approximately $40 billion of assets under management and 146 ETFs listed on major Canadian stock exchanges. Global X is a wholly owned subsidiary of the Mirae Asset Financial Group, which manages more than $900 billion of assets across 19 countries and global markets around the world. Commissions, management fees, and expenses all may be associated with an investment in products (the "Global X Funds") managed by Global X Investments Canada Inc. The Global X Funds are not guaranteed, their values change frequently and past performance may not be repeated. Certain Global X Funds may have exposure to leveraged investment techniques that magnify gains and losses which may result in greater volatility in value and could be subject to aggressive investment risk and price volatility risk. Such risks are described in the prospectus. The Global X Money Market Funds are not covered by the Canada Deposit Insurance Corporation, the Federal Deposit Insurance Corporation, or any other government deposit insurer. There can be no assurances that the money market fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the Funds will be returned to you. Past performance may not be repeated. The prospectus contains important detailed information about the Global X Funds. Please read the relevant prospectus before investing. The Global X Funds include our BetaPro products (the "BetaPro Products"). The BetaPro Products are alternative mutual funds within the meaning of National Instrument 81-102 Investment Funds and are permitted to use strategies generally prohibited by conventional mutual funds: the ability to invest more than 10% of their net asset value in securities of a single issuer, to employ leverage, and engage in short selling to a greater extent than is permitted in conventional mutual funds. While these strategies will only be used in accordance with the investment objectives and strategies of the BetaPro Products, during certain market conditions they may accelerate the risk that an investment in shares of a BetaPro Product decreases in value. The BetaPro Products include the 3x and -3x ETFs described in this press release. The 3x and -3x ETFs will use leveraged investment techniques that can magnify gains and losses and may result in greater volatility of returns. These 3x and -3x ETFs are subject to leverage risk and may be subject to aggressive investment risk and price volatility risk, among other risks, which are described in their prospectus. Each 3x and -3x ETF seeks a return, before fees and expenses, that is equal to either 300% or –300% of the performance of a specified underlying index (the "Target") for a single day. Due to the compounding of daily returns, a 3x and -3x ETF's returns over periods other than one day will likely differ in amount and possibly direction from the performance of their respective Target(s) for the same period. Hedging costs charged to BetaPro Products reduce the value of the forward price payable to that ETF. An investment in any of the BetaPro Products is not intended as a complete investment program and is appropriate only for sophisticated investors who have the capacity to absorb a loss of some or all of their investment. Please read the full risk disclosure in the prospectus before investing. Investors should monitor their holdings in BetaPro Products and their performance at least as frequently as daily to ensure such investment(s) remain consistent with their investment strategies. Certain statements may constitute a forward-looking statement, including those identified by the expression "expect" and similar expressions (including grammatical variations thereof). The forward-looking statements are not historical facts but reflect the author's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking statements. These forward-looking statements are made as of the date hereof and the authors do not undertake to update any forward-looking statement that is contained herein, whether as a result of new information, future events or otherwise, unless required by applicable law. Standard & Poor's ®" and "S&P ®" are registered trademarks of Standard & Poor's Financial Services LLC ("S&P") and have been licensed for use by Global X Investments Canada Inc. ("Global X") The Global X ETFs are not sponsored, endorsed, sold or promoted by S&P, and S&P makes no representation, warranty or condition regarding the advisability of buying, selling or holding units/shares in the Global X ETFs. Nasdaq ®, Nasdaq-100 ®, and Nasdaq-100 Index ® are trademarks of The Nasdaq Stock Market, Inc. (which with its affiliates is referred to as the "Corporations") and are licensed for use by Global X Investments Canada Inc. The Product(s) have not been passed on by the Corporations as to their legality or suitability. The Product(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S). This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase investment products (the "Global X Funds") managed by Global X Investments Canada Inc. and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies. These investments may not be suitable to the circumstances of an investor. Global X Investments Canada Inc. ("Global X") is a wholly owned subsidiary of Mirae Asset Global Investments Co., Ltd. ("Mirae Asset"), the Korea-based asset management entity of Mirae Asset Financial Group. Global X is a corporation existing under the laws of Canada and is the manager and investment manager of the Global X Funds. © 2025 Global X Investments Canada Inc. All Rights Reserved. SOURCE Global X Investments Canada Inc.
Yahoo
5 days ago
- Business
- Yahoo
These 2 Beaten-Down Dividend Stocks and This ETF Yield Over 4%. Here's Why They Are Worth Doubling Up on in June.
Phillips 66 is a leading refining company with a history of hiking its dividend consistently higher. J.M. Smucker is too cheap to ignore. The Global X MLP & Energy Infrastructure ETF invests in America's energy future. 10 stocks we like better than Phillips 66 › The S&P 500 (SNPINDEX: ^GSPC) has staged an epic recovery and is now positive year to date as investors look past ongoing macro challenges and focus on long-term growth. The rebound has increased the valuations of many stocks and exchange-traded funds (ETFs) -- making major indexes like the S&P 500 relatively expensive. But there are still compelling bargains if you know where to look. Here's why Phillips 66 (NYSE: PSX), J.M. Smucker (NYSE: SJM), and the Global X MLP & Energy Infrastructure ETF (NYSEMKT: MLPX) are great buys for investors looking to generate passive income from dividend stocks and ETFs. Scott Levine (Phillips 66): With energy prices plunging over the past year, many oil and gas stocks have received a cold shoulder from investors. Shares of leading refining company Phillips 66, for example, have plummeted more than 18% over the past year as of this writing. Disconcerting as this drop may be, it provides a great buying opportunity for investors to load up on a solid energy stock that currently offers a 4.3% forward yield. It's not merely the fact that Phillips 66 offers a high-yield dividend that makes it alluring. From 2012, the first full year it paid a dividend after it was spun off, through 2024, the company has boosted its dividend higher at a compound annual growth rate of 15%. While returning an increasing amount of capital to shareholders, management hasn't been willing to jeopardize the company's financial well-being. Over the past five years, Phillips 66 has averaged a 72% payout ratio. While it operates midstream assets and has a chemicals business, it's the company's refining business that contributes most to its bottom line. From 2021 through 2024, the refining business represented, on average, 38% of the company's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA). Phillips 66 has succeeded in reducing refining costs over the past couple of years, and it's targeting further reductions by 2027 -- something that makes further dividend hikes more likely. After reducing refining costs from $6.98 per barrel in 2022 to $5.90 in 2024, management has set a goal of dropping this to $5.50 by 2027. Another potential factor that could help drive further dividend growth is the recent activist investor activity, which resulted in Elliot Investment Management picking up two board seats. Those looking to procure more passive income would be well served to gas up their portfolios with Phillips 66. Daniel Foelber (J.M. Smucker): J.M. Smucker got hammered on Tuesday -- falling 15.6% in a single session. That steep of a sell-off is unusual for a traditionally low-growth, stodgy, dividend-paying company. The stock is now treading water at its lowest level in over 12 years. The packaged food company has a diverse portfolio of brands spanning five key categories -- U.S. retail coffee (led by Folgers and Café Bustelo), retail frozen handheld and spreads (Jif peanut butter, Uncrustables sandwiches, Smucker's toppings, etc.), U.S. retail pet foods (brands like Milk-Bone and Meow Mix), and sweet baked snacks (mainly Hostess products like Twinkies). The challenge with J.M. Smucker is that some of its products depend on discretionary spending (like treats for pets). Many of its snack brands are pressured by competition and changing buyer preferences toward healthier options. Throw in inflationary challenges and tariffs, and it's easy to see why J.M. Smucker profits have been falling. Given these headwinds, some investors may pass on J.M. Smucker and not think twice about buying the beaten-down value stock. But J.M. Smucker has an exceptionally valuable ace in the hole -- its free cash flow (FCF). Even during a down year, the company still generated $816.6 million in FCF compared to $455.4 million in dividend payments. Better yet, it expects FCF to tick up higher in fiscal 2026 -- reaching $875 million. J.M. Smucker has a generous 4.6% yield and 29 consecutive years of dividend increases , making it a great stock for collecting passive income. J.M. Smucker's growth is slowing, but the stock's valuation already reflects investor concerns -- with the company guiding for $8.50 to $9.50 in fiscal 2026 adjusted earnings per share. Even if it achieves the low end of that earnings guidance range, it would still have a dirt-cheap adjusted forward price-to-earnings ratio of just 11.1. Add it all up, and J.M. Smucker is a great choice for value investors looking for a high-yield dividend stock to buy in June. Lee Samaha (Global X MLP & Energy Infrastructure ETF): This ETF currently yields 4.5% and offers investors a way to get diversified exposure to investing in America's future as an energy superpower. The fund invests in midstream infrastructure (pipelines and storage) companies. They tend to have relatively stable streams of income from take-or-pay contracts and offer less sensitivity to the price of energy compared to companies such as oil and gas exploration and production companies or oil and gas services companies. That's not to say the companies it invests in, such as Kinder Morgan, Cheniere Energy, and Energy Transfer, don't have indirect exposure to the price of energy, because they do. High energy prices encourage investment in energy development, which in turn leads to increased production. That makes signing long-term contracts with customers a lot easier for pipeline and storage companies. Another factor improving the prospects for energy infrastructure companies is an administration committed to promoting energy production and ensuring the U.S. achieves energy self-sufficiency and the capability to export energy. It's no coincidence that President Donald Trump's secretary of the interior is Doug Burgum, the former governor of North Dakota, a major oil-producing state. It's also notable that one of the first actions Trump took in office was to remove the pause on export permit applications for new liquefied natural gas terminals that had been put in place by the previous administration. It all adds up to making this ETF an attractive investment, particularly with the price of oil still above $60 a barrel. Before you buy stock in Phillips 66, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Phillips 66 wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,702!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $870,207!* Now, it's worth noting Stock Advisor's total average return is 988% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Daniel Foelber has no position in any of the stocks mentioned. Lee Samaha has no position in any of the stocks mentioned. Scott Levine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Cheniere Energy, J.M. Smucker, and Kinder Morgan. The Motley Fool recommends Phillips 66. The Motley Fool has a disclosure policy. These 2 Beaten-Down Dividend Stocks and This ETF Yield Over 4%. Here's Why They Are Worth Doubling Up on in June. was originally published by The Motley Fool
Yahoo
12-06-2025
- Sport
- Yahoo
ICE's go-to charter airline for deportations also flew NCAA teams, Inter Miami and more
Cheers greeted the Memphis men's basketball team as it emerged from an Airbus A320 on the night of March 16. The plane had carried the team from Fort Worth, Texas, to Memphis International Airport, and the flight home was a joyous one. The 16th-ranked Tigers were American Athletic Conference tournament champions and NCAA Tournament-bound. The trophy, topped by a large silver basketball, was buckled into a seat next to head coach Penny Hardaway. On the tarmac, cameras flashed. Hardaway gave well-wishers a thumbs-up. Players high-fived fans. Advertisement Less than 12 hours later, the same Airbus A320 – tail number N281GX – flew from El Paso, Texas, to Tapachula, Mexico. The U.S. Immigration and Customs Enforcement (ICE) flight transported 105 men, seven women and one child. Handcuffs, leg irons, and a waist chain likely restrained most adults' wrists and ankles. Guards monitored the cabin. After landing in Tapachula, the sullen passengers filed off the plane, met by Mexican authorities in safety vests. Both flights were operated by Global Crossing Airlines, commonly referred to as GlobalX, a charter company based in Miami. In the last eight months, the company has transported athletic teams from Arkansas, Kentucky, Houston, Kansas, Marquette, Memphis, Miami, North Carolina and St. John's, among others. During March Madness, GlobalX planes carried the Duke men back from the Final Four and the UConn women home after winning the national title. GlobalX also has ferried professional teams, including Inter Miami CF and its star, Lionel Messi. At the same time, GlobalX has operated more than half of ICE deportation flights. The airline regularly shuttles deportees to Guatemala, Honduras, Mexico and elsewhere, sometimes on the same planes that only hours or days earlier carried sports teams. The Trump administration's controversial March 15 deportation of Kilmar Armando Abrego Garcia and more than 200 others to El Salvador involved three GlobalX planes. Two of them carried college basketball teams in the weeks prior. Advertisement 'When you get asked to do an NCAA flight, you feel lighter,' said a former GlobalX pilot who spoke on the condition he not be identified. 'If your team wins, you get the honor of transporting the winning team. It's just a feeling of accomplishment. For me doing an ICE flight, I don't want to be dramatic and say it's like a death sentence, but I hated it.' The system of chartered ICE flights – referred to as ICE Air – has operated for more than a decade, spanning presidential administrations, immigration policies and airlines. The flights have long drawn criticism from human rights advocates, raising concerns about mistreatment of detainees, safety and a lack of transparency. Less spotlighted has been the crossover between GlobalX's sports charters and ICE Air, as universities and sports organizations unwittingly support a company deeply involved in and profiting from deportation flights. 'They may not have known, but now they do, so now they have a choice to make,' said Ann Skeet, a senior director at the Markkula Center for Applied Ethics at Santa Clara University. 'They need to think about the purpose of their organization and their mission, and whether or not using a charter service that also serves ICE is consistent with their mission.' GlobalX and ICE didn't respond to emailed questions. Only 10 of 20 universities responded to requests for comment from about flights their teams took on GlobalX in recent months. The schools willing to speak about the matter said they were unaware that the planes they were on were also used to deport people. Memphis, for one, said in a statement: 'The University of Memphis uses multiple sources to charter athletic flights and have no knowledge of their customer base.' Many schools and coaches declined to address the issue at all; several feared potential retaliation given the Trump administration's targeting of some universities. Advertisement The first GlobalX revenue flight took off in August 2021. A slogan on the airline's website promised: 'You can't beat the eXperience.' The company soon became a major player in the sports charter business as its fleet expanded to more than a dozen. Past clients include professional basketball and football teams, a national soccer team, a major cricket tournament and an array of college sports teams. 'We do fly some of the biggest stars in professional sports, in soccer and some of the top – I think 10 of the top 20 college basketball teams for this season,' Ryan Goepel, the company's president and chief financial officer, said during an earnings call in March. GlobalX provided four dedicated aircraft for the NCAA men's and women's basketball tournaments this year as part of a contract worth at least $5 million, continuing a years-long relationship with the NCAA. March Madness travel is organized through the NCAA's charter program. Third-party brokers usually arrange travel for college teams during the regular season. In response to questions from about GlobalX, the NCAA issued a statement that didn't address them: 'The NCAA contracts only with safe and regulated charter plane vendors that maintain specified certifications, high ratings on reliable scales and meet insurance standards. The approval process for vendors is rigorous. We are not aware of any instances of sub-standard service on any charter flights during this championship season.' Advertisement A promotional video for sports charters on the GlobalX website earlier this year featured gourmet snacks, a grinning flight crew and spacious seats, complete with pillows, blankets and Fiji bottled water. A company brochure described its charter flights as 'the ultimate in flexibility, convenience, and luxury' and 'your ticket to wherever you want, whenever you want.' 'They were great flights, they are all excited about playing and having fun,' a second former GlobalX pilot said of the sports charters. 'That was one part of GlobalX's business model. The other part was the deportations.' Tom Cartwright, an immigration advocate who tracks ICE flights, first noted ICE's use of GlobalX in late 2021. GlobalX announced a five-year contract in August 2024 worth $65 million per year as a subcontractor to CSI Aviation for the flights. Cartwright estimates that from March through May of this year, GlobalX operated 64 percent of total ICE Air flights and 62 percent of deportation flights. Most adult passengers are required to be 'fully restrained' with 'handcuffs, waist chains, and leg irons,' according to the ICE Air Operations handbook. Carry-on items like books aren't allowed. Detainees can't wear belts, hats or shoelaces. Advertisement 'They're in conditions that you would see in a POW camp,' said the first former GlobalX pilot. An Airbus A320 with the tail number N291GX joined the GlobalX fleet last year, and its usage in recent months illustrates the disparate worlds the airline straddles. That plane carried San Diego State, Maryland, Kentucky and Auburn during the NCAA Tournament. In the two months preceding March Madness, N291GX flew dozens of times with flight numbers and destinations that match ICE Air routes. The plane traveled from Alexandria, La., to the U.S. naval base at Guantanamo Bay, Cuba, then onto Comayagua, Honduras. The Honduran foreign minister tweeted a photo of the aircraft. ICE later announced that 177 detained migrants from Venezuela had been flown from Guantanamo Bay to Honduras, where a Venezuelan plane picked them up. Another trip deported 157 migrants from El Paso, Texas, to Tapachula, Mexico. Local media reported that passengers had been 'handcuffed and shackled from the waist to the feet and hands.' Advertisement The plane flew from El Paso to San Pedro Sula, Honduras, using a flight number associated with ICE Air. The airport is a regular destination for deportation flights. The next day, March 17, the same plane carried the San Diego State men's basketball team to Dayton, Ohio, and on March 19, it flew the Maryland men to Seattle. The plane traveled to San Salvador, El Salvador on another trip using a flight number associated with ICE Air, then, a week later, on April 2, ferried the Auburn men's basketball team to San Antonio International Airport for the Final Four, where a mariachi group and dancers in bright dresses greeted them in a hangar. Another GlobalX plane – tail number N278GX – landed in San Salvador on Jan. 29, according to flight records and local media reports. More than 80 deportees were aboard. A reporter for El Diario de Hoy photographed the red wrists of one of the passengers and wrote they 'show signs of having been handcuffed for hours.' Two days later, the Kansas State men's basketball team flew from Manhattan, Kan., to Des Moines, Iowa, aboard the same plane in advance of a game against Iowa State in Ames, Iowa. (In a statement, Kansas State said it has been 'pleased' with GlobalX's 'aircraft and service.') Advertisement Also on Jan. 29, a different GlobalX plane with the tail number N837VA ferried 40 deportees to San Pedro Sula. 'They brought me in chains from last night until we arrived here. We're not criminals,' one of the passengers, Dagoberto Portillo, told local media. 'I don't understand the treatment of migrants.' Three days later, the Nebraska men's basketball team traveled aboard the same plane from Lincoln, Neb., to Eugene, Ore. The university said in a statement that the school wasn't 'involved in how that plane was received or procured.' Another GlobalX plane with the tail number N276GX landed at Eduardo Gomes International Airport in Manaus, Brazil, on Jan. 24 with 88 Brazilian deportees. Someone activated the aircraft's emergency exit slides. Photos and videos recorded a chaotic scene where shackled passengers stood on a wing and others roamed the tarmac. Brazil's Ministry of Foreign Affairs derided 'the use of handcuffs and chains' and 'undignified treatment' on the flight. Advertisement 'The most difficult moment was when the air conditioning broke down in the air, people started to feel sick, some fainted and children were crying,' Kaleb Barbosa, one of the passengers, told the Brazilian media outlet G1. 'The turbines were stopping during the flight; it was desperate, like something out of a movie.' The same plane carried the men's basketball teams from Arkansas and Houston in the previous two months, amid a stream of deportation trips. Those didn't stop. Neither did the sports flights. On May 13, the plane transported the Miami track and field team to the Atlantic Coast Conference outdoor championships in Winston-Salem, N.C. Miami's men's and women's basketball teams and baseball team also have flown GlobalX this year. The university didn't respond to a request for comment. A higher-profile Miami team is featured on GlobalX's Instagram account. The airline shuttled Messi and the rest of Inter Miami CF to preseason matches in Peru and Honduras this year in addition to a match in Kansas City. Inter Miami also didn't respond to a request for comment. Advertisement When Inter Miami arrived at Ramón Villeda Morales International Airport in San Pedro Sula on Feb. 8, fire trucks shot arcs of water over the plane with the tail number N281GX. Photographers snapped pictures of players, including Messi, walking down the passenger stairs. Contrast that with a flight that same plane made into San Pedro Sula on Dec. 4. Deportees, some of them with children, were photographed as they walked the tarmac. Behind them was the plane they traveled on, 'GlobalX' written in giant blue letters across its fuselage. 'On the one hand, you have the low-end flights for people, which are basically shackled in the sky,' said Angelina Godoy, director of the University of Washington's Center for Human Rights and author of a 2022 study about ICE Air, 'and then you have the other end, the very high-end flights, with these corporate logos and everything on the plane and the athletes in there looking great … and it's the same damn (plane).' This article originally appeared in The Athletic. Advertisement Inter Miami CF, MLS, College Football, Men's College Basketball, Soccer, Sports Business, Women's College Basketball, FIFA Club World Cup, A1: Must-Read Stories, Graphics 2025 The Athletic Media Company
New York Times
12-06-2025
- Sport
- New York Times
ICE's go-to charter airline for deportations also flew NCAA teams, Inter Miami and more
Cheers greeted the Memphis men's basketball team as it emerged from an Airbus A320 on the night of March 16. The plane had carried the team from Fort Worth, Texas, to Memphis International Airport, and the flight home was a joyous one. The 16th-ranked Tigers were American Athletic Conference tournament champions and NCAA Tournament-bound. The trophy, topped by a large silver basketball, was buckled into a seat next to head coach Penny Hardaway. Advertisement On the tarmac, cameras flashed. Hardaway gave well-wishers a thumbs-up. Players high-fived fans. Less than 12 hours later, the same Airbus A320 – tail number N281GX – flew from El Paso, Texas, to Tapachula, Mexico. The U.S. Immigration and Customs Enforcement (ICE) flight transported 105 men, seven women and one child. Handcuffs, leg irons, and a waist chain likely restrained most adults' wrists and ankles. Guards monitored the cabin. After landing in Tapachula, the sullen passengers filed off the plane, met by Mexican authorities in safety vests. Both flights were operated by Global Crossing Airlines, commonly referred to as GlobalX, a charter company based in Miami. In the last eight months, the company has transported athletic teams from Arkansas, Kentucky, Houston, Kansas, Marquette, Memphis, Miami, North Carolina and St. John's, among others. During March Madness, GlobalX planes carried the Duke men back from the Final Four and the UConn women home after winning the national title. GlobalX also has ferried professional teams, including Inter Miami CF and its star, Lionel Messi. At the same time, GlobalX has operated more than half of ICE deportation flights. The airline regularly shuttles deportees to Guatemala, Honduras, Mexico and elsewhere, sometimes on the same planes that only hours or days earlier carried sports teams. The Trump administration's controversial March 15 deportation of Kilmar Armando Abrego Garcia and more than 200 others to El Salvador involved three GlobalX planes. Two of them carried college basketball teams in the weeks prior. 'When you get asked to do an NCAA flight, you feel lighter,' said a former GlobalX pilot who spoke on the condition he not be identified. 'If your team wins, you get the honor of transporting the winning team. It's just a feeling of accomplishment. For me doing an ICE flight, I don't want to be dramatic and say it's like a death sentence, but I hated it.' Advertisement The system of chartered ICE flights – referred to as ICE Air – has operated for more than a decade, spanning presidential administrations, immigration policies and airlines. The flights have long drawn criticism from human rights advocates, raising concerns about mistreatment of detainees, safety and a lack of transparency. Less spotlighted has been the crossover between GlobalX's sports charters and ICE Air, as universities and sports organizations unwittingly support a company deeply involved in and profiting from deportation flights. 'They may not have known, but now they do, so now they have a choice to make,' said Ann Skeet, a senior director at the Markkula Center for Applied Ethics at Santa Clara University. 'They need to think about the purpose of their organization and their mission, and whether or not using a charter service that also serves ICE is consistent with their mission.' GlobalX and ICE didn't respond to emailed questions. Only 10 of 20 universities responded to requests for comment from The Athletic about flights their teams took on GlobalX in recent months. The schools willing to speak about the matter said they were unaware that the planes they were on were also used to deport people. Memphis, for one, said in a statement: 'The University of Memphis uses multiple sources to charter athletic flights and have no knowledge of their customer base.' Many schools and coaches declined to address the issue at all; several feared potential retaliation given the Trump administration's targeting of some universities. The first GlobalX revenue flight took off in August 2021. A slogan on the airline's website promised: 'You can't beat the eXperience.' The company soon became a major player in the sports charter business as its fleet expanded to more than a dozen. Past clients include professional basketball and football teams, a national soccer team, a major cricket tournament and an array of college sports teams. 'We do fly some of the biggest stars in professional sports, in soccer and some of the top – I think 10 of the top 20 college basketball teams for this season,' Ryan Goepel, the company's president and chief financial officer, said during an earnings call in March. Advertisement GlobalX provided four dedicated aircraft for the NCAA men's and women's basketball tournaments this year as part of a contract worth at least $5 million, continuing a years-long relationship with the NCAA. March Madness travel is organized through the NCAA's charter program. Third-party brokers usually arrange travel for college teams during the regular season. In response to questions from The Athletic about GlobalX, the NCAA issued a statement that didn't address them: 'The NCAA contracts only with safe and regulated charter plane vendors that maintain specified certifications, high ratings on reliable scales and meet insurance standards. The approval process for vendors is rigorous. We are not aware of any instances of sub-standard service on any charter flights during this championship season.' A promotional video for sports charters on the GlobalX website earlier this year featured gourmet snacks, a grinning flight crew and spacious seats, complete with pillows, blankets and Fiji bottled water. A company brochure described its charter flights as 'the ultimate in flexibility, convenience, and luxury' and 'your ticket to wherever you want, whenever you want.' 'They were great flights, they are all excited about playing and having fun,' a second former GlobalX pilot said of the sports charters. 'That was one part of GlobalX's business model. The other part was the deportations.' Tom Cartwright, an immigration advocate who tracks ICE flights, first noted ICE's use of GlobalX in late 2021. GlobalX announced a five-year contract in August 2024 worth $65 million per year as a subcontractor to CSI Aviation for the flights. Cartwright estimates that from March through May of this year, GlobalX operated 64 percent of total ICE Air flights and 62 percent of deportation flights. Most adult passengers are required to be 'fully restrained' with 'handcuffs, waist chains, and leg irons,' according to the ICE Air Operations handbook. Carry-on items like books aren't allowed. Detainees can't wear belts, hats or shoelaces. 'They're in conditions that you would see in a POW camp,' said the first former GlobalX pilot. Advertisement An Airbus A320 with the tail number N291GX joined the GlobalX fleet last year, and its usage in recent months illustrates the disparate worlds the airline straddles. That plane carried San Diego State, Maryland, Kentucky and Auburn during the NCAA Tournament. In the two months preceding March Madness, N291GX flew dozens of times with flight numbers and destinations that match ICE Air routes. The plane traveled from Alexandria, La., to the U.S. naval base at Guantanamo Bay, Cuba, then onto Comayagua, Honduras. The Honduran foreign minister tweeted a photo of the aircraft. ICE later announced that 177 detained migrants from Venezuela had been flown from Guantanamo Bay to Honduras, where a Venezuelan plane picked them up. En un trabajo conjunto, por instrucciones de la Presidenta @XiomaraCastroZ en cooperación con los y la República Bolivariana Venezuela con quienes Honduras tiene relaciones diplomáticas, con la labor de @Sedenahn @riximga @CancilleriaHN se realizan Acciones Humanitarias… — Enrique Reina (@EnriqueReinaHN) February 20, 2025 Another trip deported 157 migrants from El Paso, Texas, to Tapachula, Mexico. Local media reported that passengers had been 'handcuffed and shackled from the waist to the feet and hands.' The plane flew from El Paso to San Pedro Sula, Honduras, using a flight number associated with ICE Air. The airport is a regular destination for deportation flights. The next day, March 17, the same plane carried the San Diego State men's basketball team to Dayton, Ohio, and on March 19, it flew the Maryland men to Seattle. The plane traveled to San Salvador, El Salvador on another trip using a flight number associated with ICE Air, then, a week later, on April 2, ferried the Auburn men's basketball team to San Antonio International Airport for the Final Four, where a mariachi group and dancers in bright dresses greeted them in a hangar. Another GlobalX plane – tail number N278GX – landed in San Salvador on Jan. 29, according to flight records and local media reports. More than 80 deportees were aboard. A reporter for El Diario de Hoy photographed the red wrists of one of the passengers and wrote they 'show signs of having been handcuffed for hours.' Two days later, the Kansas State men's basketball team flew from Manhattan, Kan., to Des Moines, Iowa, aboard the same plane in advance of a game against Iowa State in Ames, Iowa. (In a statement, Kansas State said it has been 'pleased' with GlobalX's 'aircraft and service.') Advertisement Also on Jan. 29, a different GlobalX plane with the tail number N837VA ferried 40 deportees to San Pedro Sula. 'They brought me in chains from last night until we arrived here. We're not criminals,' one of the passengers, Dagoberto Portillo, told local media. 'I don't understand the treatment of migrants.' Three days later, the Nebraska men's basketball team traveled aboard the same plane from Lincoln, Neb., to Eugene, Ore. The university said in a statement that the school wasn't 'involved in how that plane was received or procured.' Another GlobalX plane with the tail number N276GX landed at Eduardo Gomes International Airport in Manaus, Brazil, on Jan. 24 with 88 Brazilian deportees. Someone activated the aircraft's emergency exit slides. Photos and videos recorded a chaotic scene where shackled passengers stood on a wing and others roamed the tarmac. Brazil's Ministry of Foreign Affairs derided 'the use of handcuffs and chains' and 'undignified treatment' on the flight. 'The most difficult moment was when the air conditioning broke down in the air, people started to feel sick, some fainted and children were crying,' Kaleb Barbosa, one of the passengers, told the Brazilian media outlet G1. 'The turbines were stopping during the flight; it was desperate, like something out of a movie.' The same plane carried the men's basketball teams from Arkansas and Houston in the previous two months, amid a stream of deportation trips. Those didn't stop. Neither did the sports flights. On May 13, the plane transported the Miami track and field team to the Atlantic Coast Conference outdoor championships in Winston-Salem, N.C. Miami's men's and women's basketball teams and baseball team also have flown GlobalX this year. The university didn't respond to a request for comment. A higher-profile Miami team is featured on GlobalX's Instagram account. The airline shuttled Messi and the rest of Inter Miami CF to preseason matches in Peru and Honduras this year in addition to a match in Kansas City. Inter Miami also didn't respond to a request for comment. Advertisement When Inter Miami arrived at Ramón Villeda Morales International Airport in San Pedro Sula on Feb. 8, fire trucks shot arcs of water over the plane with the tail number N281GX. Photographers snapped pictures of players, including Messi, walking down the passenger stairs. Contrast that with a flight that same plane made into San Pedro Sula on Dec. 4. Deportees, some of them with children, were photographed as they walked the tarmac. Behind them was the plane they traveled on, 'GlobalX' written in giant blue letters across its fuselage. 'On the one hand, you have the low-end flights for people, which are basically shackled in the sky,' said Angelina Godoy, director of the University of Washington's Center for Human Rights and author of a 2022 study about ICE Air, 'and then you have the other end, the very high-end flights, with these corporate logos and everything on the plane and the athletes in there looking great … and it's the same damn (plane).' (Graphics: Drew Jordan / The Athletic) (Illustration: Dan Goldfarb / The Athletic; photos: Sarah Stier, Orlando Sierra / Getty Images, Moises Castillo, Larry MacDougal / AP Photo)
