Global X Emerging Markets
Bond ETF (ticker: EMBD) |
Global X China Innovation
ETF (ticker: KEJI) |
Table
of Contents |
Management Discussion of Fund
Performance |
1 |
Schedules of Investments |
|
Global X Emerging Markets
Bond ETF |
5 |
Global X China Innovation
ETF |
23 |
Statements of Assets and Liabilities |
26 |
Statements of Operations |
27 |
Statements of Changes in Net Assets |
28 |
Financial Highlights |
29 |
Notes to Financial Statements |
31 |
Report of Independent Registered Public
Accounting Firm |
46 |
Disclosure of Fund Expenses |
48 |
Approval of Investment Advisory Agreement and
Sub-Advisory Agreements |
50 |
Supplemental Information |
61 |
Trustees and Officers of the Trust |
62 |
Notice to Shareholders |
64 |
Management Discussion of Fund Performance
(Unaudited) |
||
Global
X Emerging Markets Bond ETF |
AVERAGE TOTAL RETURN FOR
THE YEAR ENDED NOVEMBER 30, 2021 | ||||
One Year Return |
Annualized Inception to
Date* | |||
Net Asset Value |
Market Price |
Net Asset Value |
Market Price | |
Global X
Emerging Markets Bond ETF |
-1.60% |
-1.67% |
6.65% |
6.82% |
JPMorgan
EMBI Global Core Index |
-1.71% |
-1.71% |
5.21% |
5.21% |
Management Discussion of Fund Performance
(Unaudited) |
||
Global
X Emerging Markets Bond ETF |
Management Discussion of Fund Performance
(Unaudited) |
||
Global
X China Innovation ETF |
AVERAGE TOTAL RETURN FOR
THE PERIOD ENDED NOVEMBER 30, 2021 | ||
Cumulative Inception to
Date* | ||
Net Asset Value |
Market Price | |
Global X
China Innovation ETF |
-23.92% |
-24.04% |
MSCI All
China Index |
-20.92% |
-20.92% |
Management Discussion of Fund Performance
(Unaudited) |
||
Global
X China Innovation ETF |
Schedule
of Investments |
November
30, 2021 | |
Global
X Emerging Markets Bond ETF |
Face
Amount |
Value |
|||||||
SOVEREIGN DEBT —
53.9% |
||||||||
Angola — 0.4% |
||||||||
Angolan
Government International Bond |
||||||||
9.500%, 11/12/25 |
$ |
200,000 |
$ |
203,832 |
||||
8.250%, 05/09/28 |
400,000 |
375,280 |
||||||
579,112 |
||||||||
Argentina — 1.3% |
||||||||
Argentine
Republic Government International Bond |
||||||||
2.500%,
3.500%, 7/9/2022, 07/09/41(A) |
1,400,000 |
430,822 |
||||||
2.000%,
3.875%, 7/9/2022, 01/09/38(A) |
2,000,000 |
662,320 |
||||||
1.125%,
1.500%, 7/9/2022, 07/09/35(A) |
2,300,000 |
647,473 |
||||||
1,740,615 |
||||||||
Azerbaijan — 0.2% |
||||||||
Republic
of Azerbaijan International Bond |
||||||||
4.750%, 03/18/24 |
200,000 |
211,670 |
||||||
Schedule
of Investments |
November
30, 2021 | |
Global
X Emerging Markets Bond ETF |
Face
Amount |
Value |
|||||||
SOVEREIGN DEBT —
continued |
||||||||
Bahrain — 0.7% |
||||||||
Bahrain
Government International Bond |
||||||||
7.000%, 10/12/28 |
$ |
200,000 |
$ |
214,252 |
||||
7.000%, 01/26/26 |
200,000 |
219,490 |
||||||
6.750%, 09/20/29 |
200,000 |
212,020 |
||||||
Bahrain
Government International Bond MTN |
||||||||
5.250%, 01/25/33 |
300,000 |
278,234 |
||||||
923,996 |
||||||||
Brazil — 0.4% |
||||||||
Brazilian
Government International Bond |
||||||||
5.625%, 02/21/47 |
200,000 |
193,194 |
||||||
3.875%, 06/12/30 |
200,000 |
187,932 |
||||||
2.875%, 06/06/25 |
200,000 |
200,040 |
||||||
581,166 |
||||||||
Chile — 1.2% |
||||||||
Chile
Government International Bond |
||||||||
3.500%, 01/25/50 |
600,000 |
619,872 |
||||||
3.240%, 02/06/28 |
1,000,000 |
1,052,090 |
||||||
1,671,962 |
||||||||
Colombia — 4.2% |
||||||||
Colombia
Government International Bond |
||||||||
5.200%, 05/15/49 |
1,000,000 |
932,100 |
||||||
5.000%, 06/15/45 |
800,000 |
732,184 |
||||||
4.500%, 01/28/26 |
200,000 |
208,484 |
||||||
4.125%, 05/15/51 |
1,200,000 |
973,728 |
||||||
4.125%, 02/22/42 |
600,000 |
508,746 |
||||||
3.250%, 04/22/32 |
800,000 |
714,400 |
||||||
3.125%, 04/15/31 |
1,400,000 |
1,256,500 |
||||||
3.000%, 01/30/30 |
400,000 |
364,376 |
||||||
5,690,518 |
Schedule
of Investments |
November
30, 2021 | |
Global
X Emerging Markets Bond ETF |
Face
Amount |
Value |
|||||||
SOVEREIGN DEBT
— continued |
||||||||
Dominican Republic — 1.4% |
||||||||
Dominican
Republic International Bond |
||||||||
6.850%, 01/27/45 |
$ |
400,000 |
$ |
430,004 |
||||
6.500%, 02/15/48 |
400,000 |
412,004 |
||||||
6.000%, 07/19/28 |
200,000 |
220,002 |
||||||
5.950%, 01/25/27 |
400,000 |
441,004 |
||||||
5.875%, 01/30/60 |
200,000 |
186,000 |
||||||
5.500%, 01/27/25 |
200,000 |
215,502 |
||||||
1,904,516 |
||||||||
Ecuador — 0.8% |
||||||||
Ecuador
Government International Bond |
||||||||
1.000%,
2.500%, 7/31/2022, 07/31/35(A) |
600,000 |
387,000 |
||||||
0.500%,
1.500%, 7/31/2022, 07/31/40(A) |
1,200,000 |
684,000 |
||||||
1,071,000 |
||||||||
Egypt — 3.2% |
||||||||
Egypt
Government International Bond |
||||||||
8.875%, 05/29/50 |
700,000 |
602,000 |
||||||
8.700%, 03/01/49 |
800,000 |
680,400 |
||||||
7.903%, 02/21/48 |
600,000 |
481,596 |
||||||
7.625%, 05/29/32(B) |
600,000 |
539,064 |
||||||
7.625%, 05/29/32 |
200,000 |
179,688 |
||||||
5.875%, 06/11/25 |
200,000 |
199,130 |
||||||
Egypt
Government International Bond MTN |
||||||||
7.600%, 03/01/29 |
400,000 |
381,000 |
||||||
7.500%, 01/31/27 |
200,000 |
200,448 |
||||||
7.053%, 01/15/32 |
800,000 |
702,704 |
||||||
5.875%, 02/16/31 |
400,000 |
337,800 |
||||||
4,303,830 |
||||||||
El Salvador — 0.1% |
||||||||
El
Salvador Government International Bond |
||||||||
7.125%, 01/20/50(B) |
200,000 |
119,002 |
Schedule
of Investments |
November
30, 2021 | |
Global
X Emerging Markets Bond ETF |
Face
Amount |
Value |
|||||||
SOVEREIGN DEBT
— continued |
||||||||
Ghana — 1.3% |
||||||||
Ghana
Government International Bond |
||||||||
8.950%, 03/26/51 |
$ |
400,000 |
$ |
307,368 |
||||
8.627%, 06/16/49 |
400,000 |
303,544 |
||||||
8.125%, 03/26/32 |
200,000 |
158,104 |
||||||
7.750%, 04/07/29(B) |
600,000 |
486,108 |
||||||
7.750%, 04/07/29 |
600,000 |
486,108 |
||||||
1,741,232 |
||||||||
Hungary — 0.9% |
||||||||
Hungary
Government International Bond |
||||||||
5.375%, 03/25/24 |
400,000 |
436,086 |
||||||
3.125%, 09/21/51 |
600,000 |
570,600 |
||||||
2.125%, 09/22/31 |
200,000 |
193,500 |
||||||
1,200,186 |
||||||||
India — 0.5% |
||||||||
Export-Import
Bank of India |
||||||||
3.875%, 02/01/28 |
600,000 |
644,160 |
||||||
Indonesia — 0.9% |
||||||||
Indonesia
Government International Bond |
||||||||
3.500%, 01/11/28 |
600,000 |
646,920 |
||||||
2.950%, 01/11/23 |
200,000 |
204,486 |
||||||
Indonesia
Government International Bond MTN |
||||||||
4.750%, 01/08/26 |
200,000 |
224,099 |
||||||
Perusahaan
Penerbit SBSN Indonesia III |
||||||||
4.350%, 09/10/24 |
200,000 |
216,982 |
||||||
1,292,487 |
||||||||
Ivory Coast — 1.0% |
||||||||
Ivory
Coast Government International Bond |
||||||||
6.125%, 06/15/33 |
1,400,000 |
1,427,328 |
||||||
Jordan — 0.3% |
||||||||
Jordan
Government International Bond |
||||||||
5.750%, 01/31/27 |
400,000 |
413,000 |
||||||
Kazakhstan — 0.2% |
||||||||
Kazakhstan
Government International Bond MTN |
||||||||
5.125%, 07/21/25 |
200,000 |
225,260 |
Schedule
of Investments |
November
30, 2021 | |
Global
X Emerging Markets Bond ETF |
Face
Amount |
Value |
|||||||
SOVEREIGN DEBT —
continued |
||||||||
Kenya — 0.4% |
||||||||
Kenya
Government International Bond |
||||||||
8.250%, 02/28/48 |
$ |
400,000 |
$ |
393,592 |
||||
6.875%, 06/24/24 |
200,000 |
211,600 |
||||||
605,192 |
||||||||
Kuwait — 0.5% |
||||||||
Kuwait
International Government Bond |
||||||||
3.500%, 03/20/27 |
600,000 |
652,500 |
||||||
Mexico — 1.4% |
||||||||
Mexico
Government International Bond |
||||||||
5.000%, 04/27/51 |
600,000 |
667,914 |
||||||
4.750%, 04/27/32 |
600,000 |
670,098 |
||||||
3.750%, 01/11/28 |
400,000 |
429,120 |
||||||
2.659%, 05/24/31 |
200,000 |
193,064 |
||||||
1,960,196 |
||||||||
Morocco — 1.0% |
||||||||
Morocco
Government International Bond |
||||||||
4.000%, 12/15/50 |
1,200,000 |
1,050,000 |
||||||
3.000%, 12/15/32 |
200,000 |
186,050 |
||||||
2.375%, 12/15/27 |
200,000 |
193,152 |
||||||
1,429,202 |
||||||||
Nigeria — 2.0% |
||||||||
Nigeria
Government International Bond |
||||||||
9.248%, 01/21/49 |
200,000 |
196,186 |
||||||
8.747%, 01/21/31 |
800,000 |
808,432 |
||||||
7.625%, 11/21/25 |
600,000 |
628,734 |
||||||
Nigeria
Government International Bond MTN |
||||||||
7.625%, 11/28/47 |
200,000 |
171,600 |
||||||
6.500%, 11/28/27 |
1,000,000 |
975,200 |
||||||
2,780,152 |
Schedule
of Investments |
November
30, 2021 | |
Global
X Emerging Markets Bond ETF |
Face
Amount |
Value |
|||||||
SOVEREIGN DEBT —
continued |
||||||||
Oman — 3.0% |
||||||||
Oman
Government International Bond |
||||||||
7.375%, 10/28/32 |
$ |
200,000 |
$ |
223,048 |
||||
6.750%, 01/17/48 |
400,000 |
384,120 |
||||||
6.750%, 10/28/27 |
800,000 |
876,080 |
||||||
6.250%, 01/25/31 |
600,000 |
628,500 |
||||||
5.625%, 01/17/28 |
500,000 |
513,324 |
||||||
5.375%, 03/08/27 |
400,000 |
410,701 |
||||||
4.125%, 01/17/23 |
200,000 |
202,202 |
||||||
Oman
Government International Bond MTN |
||||||||
6.000%, 08/01/29 |
600,000 |
623,964 |
||||||
4.875%, 02/01/25 |
200,000 |
205,700 |
||||||
4,067,639 |
||||||||
Pakistan — 0.6% |
||||||||
Pakistan
Government International Bond |
||||||||
8.250%, 04/15/24 |
600,000 |
636,000 |
||||||
6.875%, 12/05/27 |
200,000 |
199,000 |
||||||
835,000 |
||||||||
Panama — 1.3% |
||||||||
Panama
Government International Bond |
||||||||
4.500%, 05/15/47 |
200,000 |
215,928 |
||||||
3.870%, 07/23/60 |
1,000,000 |
964,080 |
||||||
3.750%, 03/16/25 |
600,000 |
634,110 |
||||||
1,814,118 |
||||||||
Paraguay — 0.5% |
||||||||
Paraguay
Government International Bond |
||||||||
5.000%, 04/15/26 |
200,000 |
219,300 |
||||||
4.950%, 04/28/31 |
400,000 |
440,004 |
||||||
659,304 |
||||||||
Peru — 2.2% |
||||||||
Peruvian
Government International Bond |
||||||||
8.750%, 11/21/33 |
600,000 |
923,892 |
||||||
5.625%, 11/18/50 |
200,000 |
272,594 |
||||||
4.125%, 08/25/27 |
600,000 |
656,166 |
||||||
3.550%, 03/10/51 |
200,000 |
200,006 |
||||||
2.783%, 01/23/31 |
1,000,000 |
990,280 |
||||||
3,042,938 |
Schedule
of Investments |
November
30, 2021 | |
Global
X Emerging Markets Bond ETF |
Face
Amount |
Value |
|||||||
SOVEREIGN DEBT
— continued |
||||||||
Philippines — 1.0% |
||||||||
Philippine
Government International Bond |
||||||||
6.375%, 10/23/34 |
$ |
200,000 |
$ |
275,083 |
||||
4.200%, 01/21/24 |
400,000 |
425,881 |
||||||
3.700%, 02/02/42 |
400,000 |
427,400 |
||||||
3.200%, 07/06/46 |
200,000 |
199,026 |
||||||
1,327,390 |
||||||||
Qatar — 4.0% |
||||||||
Qatar
Government International Bond |
||||||||
4.817%, 03/14/49 |
800,000 |
1,033,024 |
||||||
4.500%, 04/23/28 |
600,000 |
686,513 |
||||||
4.400%, 04/16/50 |
200,000 |
245,004 |
||||||
4.000%, 03/14/29 |
400,000 |
448,702 |
||||||
3.875%, 04/23/23 |
600,000 |
625,465 |
||||||
3.750%, 04/16/30 |
600,000 |
667,908 |
||||||
3.400%, 04/16/25 |
1,000,000 |
1,062,748 |
||||||
3.250%, 06/02/26 |
600,000 |
638,911 |
||||||
5,408,275 |
||||||||
Romania — 1.4% |
||||||||
Romanian
Government International Bond |
||||||||
5.125%, 06/15/48 |
400,000 |
455,000 |
||||||
4.000%, 02/14/51 |
200,000 |
194,096 |
||||||
3.000%, 02/14/31 |
400,000 |
395,328 |
||||||
Romanian
Government International Bond MTN |
||||||||
4.875%, 01/22/24 |
600,000 |
639,278 |
||||||
4.375%, 08/22/23 |
200,000 |
210,225 |
||||||
1,893,927 |
||||||||
Russia — 1.0% |
||||||||
Russian
Foreign Bond - Eurobond |
||||||||
5.250%, 06/23/47 |
600,000 |
758,358 |
||||||
5.100%, 03/28/35 |
200,000 |
235,750 |
||||||
4.750%, 05/27/26 |
200,000 |
219,812 |
||||||
4.250%, 06/23/27 |
200,000 |
216,520 |
||||||
1,430,440 |
Schedule
of Investments |
November
30, 2021 | |
Global
X Emerging Markets Bond ETF |
Face
Amount |
Value |
|||||||
SOVEREIGN DEBT
— continued |
||||||||
Saudi Arabia — 1.8% |
||||||||
Saudi
Government International Bond |
||||||||
5.250%, 01/16/50 |
$ |
400,000 |
$ |
518,416 |
||||
4.375%, 04/16/29 |
200,000 |
228,750 |
||||||
Saudi
Government International Bond MTN |
||||||||
4.500%, 04/17/30 |
400,000 |
464,000 |
||||||
3.750%, 01/21/55 |
200,000 |
209,550 |
||||||
3.250%, 10/26/26 |
400,000 |
426,016 |
||||||
2.900%, 10/22/25(B) |
200,000 |
209,692 |
||||||
2.250%, 02/02/33 |
400,000 |
386,499 |
||||||
2,442,923 |
||||||||
Senegal — 1.1% |
||||||||
Senegal
Government International Bond |
||||||||
6.750%, 03/13/48 |
800,000 |
761,160 |
||||||
6.250%, 05/23/33 |
800,000 |
801,040 |
||||||
1,562,200 |
||||||||
South Africa — 1.9% |
||||||||
Republic
of South Africa Government International Bond |
||||||||
4.850%, 09/30/29 |
1,000,000 |
1,006,250 |
||||||
4.850%, 09/27/27 |
1,000,000 |
1,035,000 |
||||||
4.300%, 10/12/28 |
600,000 |
595,667 |
||||||
2,636,917 |
||||||||
South Korea — 1.8% |
||||||||
Export-Import
Bank of Korea |
||||||||
1.335%,
VAR ICE LIBOR USD 3 Month + 1.200%, 04/27/23 |
1,200,000 |
1,216,168 |
||||||
Korea
Development Bank |
||||||||
0.299%,
VAR United States Secured Overnight Financing Rate + 0.250%,
03/09/24 |
200,000 |
199,494 |
||||||
Korea
Development Bank MTN |
||||||||
0.510%,
VAR ICE LIBOR USD 3 Month + 0.350%, 02/18/23 |
1,000,000 |
1,001,711 |
||||||
2,417,373 |
Schedule
of Investments |
November
30, 2021 | |
Global
X Emerging Markets Bond ETF |
Face
Amount |
Value |
|||||||
SOVEREIGN DEBT —
continued |
||||||||
Sri Lanka — 0.4% |
||||||||
Sri
Lanka Government International Bond |
||||||||
7.550%, 03/28/30 |
$ |
400,000 |
$ |
218,752 |
||||
6.750%, 04/18/28 |
600,000 |
328,002 |
||||||
546,754 |
||||||||
Turkey — 2.2% |
||||||||
Turkey
Government International Bond |
||||||||
7.250%, 12/23/23 |
200,000 |
207,274 |
||||||
6.625%, 02/17/45 |
400,000 |
350,296 |
||||||
6.125%, 10/24/28 |
200,000 |
189,500 |
||||||
5.600%, 11/14/24 |
400,000 |
393,000 |
||||||
5.250%, 03/13/30 |
600,000 |
526,577 |
||||||
5.125%, 02/17/28 |
800,000 |
728,000 |
||||||
4.750%, 01/26/26 |
400,000 |
374,174 |
||||||
3.250%, 03/23/23 |
200,000 |
196,940 |
||||||
2,965,761 |
||||||||
Ukraine — 2.0% |
||||||||
Ukraine
Government International Bond |
||||||||
7.750%, 09/01/26 |
400,000 |
400,504 |
||||||
7.750%, 09/01/24 |
400,000 |
400,752 |
||||||
7.750%, 09/01/23 |
200,000 |
201,606 |
||||||
7.375%, 09/25/32 |
1,000,000 |
942,100 |
||||||
7.253%, 03/15/33 |
800,000 |
745,200 |
||||||
2,690,162 |
||||||||
United Arab Emirates — 2.4% |
||||||||
Abu
Dhabi Government International Bond |
||||||||
3.125%, 10/11/27 |
800,000 |
857,344 |
||||||
3.125%, 09/30/49 |
200,000 |
203,000 |
||||||
Abu
Dhabi Government International Bond MTN |
||||||||
2.500%, 04/16/25 |
1,200,000 |
1,244,669 |
||||||
Finance
Department Government of Sharjah MTN |
||||||||
4.375%, 03/10/51 |
1,000,000 |
942,500 |
||||||
3,247,513 |
Schedule
of Investments |
November
30, 2021 | |
Global
X Emerging Markets Bond ETF |
Face
Amount |
Value |
|||||||
SOVEREIGN DEBT —
continued |
||||||||
Uruguay — 0.5% |
||||||||
Uruguay
Government International Bond |
||||||||
4.375%, 10/27/27 |
$ |
400,000 |
$ |
448,772 |
||||
4.375%, 01/23/31 |
200,000 |
229,432 |
||||||
678,204 |
||||||||
Vietnam — 0.5% |
||||||||
Vietnam
Government International Bond |
||||||||
4.800%, 11/19/24 |
600,000 |
655,026 |
||||||
TOTAL SOVEREIGN DEBT |
||||||||
(Cost $77,061,732) |
73,490,146 |
|||||||
CORPORATE OBLIGATIONS —
39.0% |
||||||||
Azerbaijan — 0.8% |
||||||||
Energy — 0.8% |
||||||||
Southern Gas Corridor
CJSC |
||||||||
6.875%, 03/24/26 |
1,000,000 |
1,151,102 |
||||||
Bahrain — 0.5% |
||||||||
Government — 0.5% |
||||||||
CBB International Sukuk
Programme WLL |
||||||||
6.250%, 11/14/24 |
600,000 |
644,100 |
||||||
Brazil — 1.6% |
||||||||
Consumer Discretionary —
1.2% |
||||||||
B2W Digital Lux
Sarl |
||||||||
4.375%, 12/20/30 |
1,000,000 |
897,265 |
||||||
Iochpe-Maxion Austria
GmbH |
||||||||
5.000%, 05/07/28 |
400,000 |
373,800 |
||||||
JSM Global Sarl |
||||||||
4.750%, 10/20/30 |
400,000 |
367,004 |
||||||
1,638,069 |
||||||||
Energy — 0.1% |
||||||||
Petrobras Global Finance
BV |
||||||||
6.750%, 06/03/50 |
200,000 |
204,500 |
||||||
Materials — 0.3% |
||||||||
Klabin Finance |
||||||||
4.875%, 09/19/27 |
400,000 |
423,000 |
Schedule
of Investments |
November
30, 2021 | |
Global
X Emerging Markets Bond ETF |
Face
Amount |
Value |
|||||||
CORPORATE
OBLIGATIONS — continued |
||||||||
Chile — 2.1% |
||||||||
Energy — 0.3% |
||||||||
Empresa Nacional del
Petroleo |
||||||||
4.500%, 09/14/47 |
$ |
400,000 |
$ |
390,504 |
||||
Financials — 0.4% |
||||||||
Banco del Estado de
Chile MTN |
||||||||
3.875%, 02/08/22 |
600,000 |
603,072 |
||||||
Materials — 1.4% |
||||||||
Nacional del Cobre de
Chile |
||||||||
3.625%, 08/01/27 |
800,000 |
846,744 |
||||||
3.000%, 09/30/29 |
1,000,000 |
1,008,575 |
||||||
1,855,319 |
||||||||
China — 0.5% |
||||||||
Communication Services —
0.5% |
||||||||
Prosus |
||||||||
3.832%, 02/08/51 |
800,000 |
724,660 |
||||||
Colombia — 2.7% |
||||||||
Energy — 1.0% |
||||||||
Ecopetrol |
||||||||
5.875%, 05/28/45 |
1,500,000 |
1,398,750 |
||||||
Financials — 1.4% |
||||||||
Banco de Bogota |
||||||||
4.375%, 08/03/27 |
400,000 |
409,600 |
||||||
Grupo de Inversiones
Suramericana |
||||||||
5.500%, 04/29/26 |
1,400,000 |
1,491,000 |
||||||
1,900,600 |
||||||||
Utilities — 0.3% |
||||||||
Promigas ESP |
||||||||
3.750%, 10/16/29 |
400,000 |
387,548 |
||||||
India — 0.9% |
||||||||
Energy — 0.3% |
||||||||
BPRL International
Singapore Pte MTN |
||||||||
4.375%, 01/18/27 |
400,000 |
421,968 |
Schedule
of Investments |
November
30, 2021 | |
Global
X Emerging Markets Bond ETF |
Face
Amount |
Value |
|||||||
CORPORATE
OBLIGATIONS — continued |
||||||||
Industrials —
0.2% |
||||||||
India Toll Roads
MTN |
||||||||
5.500%, 08/19/24 |
$ |
250,000 |
$ |
251,250 |
||||
Utilities — 0.4% |
||||||||
Adani Renewable Energy
RJ MTN |
||||||||
4.625%, 10/15/39 |
558,750 |
559,448 |
||||||
Indonesia — 2.2% |
||||||||
Energy — 0.2% |
||||||||
Pertamina Persero
MTN |
||||||||
6.450%, 05/30/44 |
200,000 |
262,706 |
||||||
Materials — 2.0% |
||||||||
Indonesia Asahan
Aluminium Persero |
||||||||
6.530%, 11/15/28 |
1,000,000 |
1,195,520 |
||||||
5.450%, 05/15/30 |
1,000,000 |
1,136,100 |
||||||
4.750%, 05/15/25 |
400,000 |
425,748 |
||||||
2,757,368 |
||||||||
Kazakhstan — 1.4% |
||||||||
Energy — 1.4% |
||||||||
KazMunayGas National
JSC |
||||||||
5.375%, 04/24/30 |
200,000 |
229,203 |
||||||
4.750%, 04/19/27 |
200,000 |
219,182 |
||||||
Tengizchevroil Finance
International |
||||||||
4.000%, 08/15/26 |
400,000 |
424,000 |
||||||
3.250%, 08/15/30 |
1,000,000 |
985,480 |
||||||
1,857,865 |
||||||||
Kuwait — 0.5% |
||||||||
Financials — 0.5% |
||||||||
Kuwait Projects
SPC |
||||||||
4.229%, 10/29/26 |
800,000 |
752,640 |
||||||
Malaysia — 1.3% |
||||||||
Energy — 1.3% |
||||||||
Petronas Capital
MTN |
||||||||
4.550%, 04/21/50 |
200,000 |
250,415 |
||||||
3.500%, 03/18/25 |
200,000 |
212,857 |
||||||
3.500%, 04/21/30 |
600,000 |
651,013 |
Schedule
of Investments |
November
30, 2021 | |
Global
X Emerging Markets Bond ETF |
Face
Amount |
Value |
|||||||
CORPORATE OBLIGATIONS —
continued |
||||||||
Energy —
continued |
||||||||
Petronas Energy Canada
MTN |
||||||||
2.112%, 03/23/28 |
$ |
600,000 |
$ |
601,257 |
||||
1,715,542 |
||||||||
Mexico — 5.5% |
||||||||
Consumer Discretionary —
0.3% |
||||||||
Nemak |
||||||||
3.625%, 06/28/31 |
400,000 |
379,500 |
||||||
Consumer Staples —
0.5% |
||||||||
Grupo Bimbo |
||||||||
4.700%, 11/10/47 |
600,000 |
730,974 |
||||||
Energy — 4.2% |
||||||||
Petroleos
Mexicanos |
||||||||
7.690%, 01/23/50 |
800,000 |
719,120 |
||||||
6.875%, 10/16/25 |
200,000 |
213,380 |
||||||
6.840%, 01/23/30 |
400,000 |
400,160 |
||||||
6.500%, 01/23/29 |
800,000 |
795,716 |
||||||
6.500%, 03/13/27 |
600,000 |
615,240 |
||||||
6.490%, 01/23/27 |
600,000 |
615,300 |
||||||
6.350%, 02/12/48 |
600,000 |
472,740 |
||||||
5.950%, 01/28/31 |
1,400,000 |
1,311,800 |
||||||
Petroleos Mexicanos
MTN |
||||||||
6.875%, 08/04/26 |
600,000 |
636,342 |
||||||
5,779,798 |
||||||||
Industrials —
0.1% |
||||||||
Mexico City Airport
Trust |
||||||||
3.875%, 04/30/28 |
200,000 |
205,750 |
||||||
Utilities — 0.4% |
||||||||
Comision Federal de
Electricidad |
||||||||
3.875%, 07/26/33 |
600,000 |
572,250 |
||||||
Morocco — 1.4% |
||||||||
Materials — 1.4% |
||||||||
OCP |
||||||||
6.875%, 04/25/44 |
800,000 |
932,000 |
||||||
5.125%, 06/23/51 |
1,000,000 |
941,290 |
||||||
1,873,290 |
Schedule
of Investments |
November
30, 2021 | |
Global
X Emerging Markets Bond ETF |
Face
Amount |
Value |
|||||||
CORPORATE OBLIGATIONS —
continued |
||||||||
Panama — 0.9% |
||||||||
Industrials —
0.9% |
||||||||
Aeropuerto Internacional
de Tocumen |
||||||||
5.125%, 08/11/61 |
$ |
1,200,000 |
$ |
1,251,012 |
||||
Peru — 4.6% |
||||||||
Consumer Staples —
0.3% |
||||||||
InRetail
Consumer |
||||||||
3.250%, 03/22/28 |
400,000 |
391,376 |
||||||
Energy — 2.2% |
||||||||
Petroleos del
Peru |
||||||||
5.625%, 06/19/47 |
1,600,000 |
1,562,000 |
||||||
4.750%, 06/19/32 |
600,000 |
613,020 |
||||||
Transportadora de Gas
del Peru |
||||||||
4.250%, 04/30/28 |
800,000 |
840,008 |
||||||
3,015,028 |
||||||||
Financials — 0.6% |
||||||||
Intercorp Peru |
||||||||
3.875%, 08/15/29 |
800,000 |
771,484 |
||||||
Utilities — 1.5% |
||||||||
Consorcio
Transmantaro |
||||||||
4.700%, 04/16/34 |
800,000 |
878,636 |
||||||
Kallpa
Generacion |
||||||||
4.125%, 08/16/27 |
1,200,000 |
1,242,012 |
||||||
2,120,648 |
||||||||
Qatar — 0.8% |
||||||||
Financials — 0.8% |
||||||||
QNB Finance MTN |
||||||||
1.276%,
VAR United States Secured Overnight Financing Rate + 1.225%,
02/12/22 |
200,000 |
200,000 |
||||||
1.132%,
VAR ICE LIBOR USD 3 Month + 1.000%, 05/02/22 |
850,000 |
851,063 |
||||||
1,051,063 |
Schedule
of Investments |
November
30, 2021 | |
Global
X Emerging Markets Bond ETF |
Face
Amount |
Value |
|||||||
CORPORATE
OBLIGATIONS — continued |
||||||||
Saudi Arabia — 2.5% |
||||||||
Energy — 2.0% |
||||||||
Saudi Arabian
Oil |
||||||||
3.250%, 11/24/50 |
$ |
200,000 |
$ |
191,500 |
||||
1.625%, 11/24/25 |
400,000 |
396,673 |
||||||
Saudi Arabian Oil
MTN |
||||||||
4.250%, 04/16/39 |
200,000 |
223,955 |
||||||
3.500%, 04/16/29 |
800,000 |
850,158 |
||||||
2.875%, 04/16/24 |
800,000 |
827,163 |
||||||
2.750%, 04/16/22 |
200,000 |
201,562 |
||||||
2,691,011 |
||||||||
Utilities — 0.5% |
||||||||
Acwa Power Management
And Investments One |
||||||||
5.950%, 12/15/39 |
599,358 |
712,138 |
||||||
South Africa — 1.9% |
||||||||
Materials — 0.8% |
||||||||
Sasol Financing
USA |
||||||||
6.500%, 09/27/28 |
600,000 |
641,400 |
||||||
5.500%, 03/18/31 |
400,000 |
392,040 |
||||||
1,033,440 |
||||||||
Utilities — 1.1% |
||||||||
Eskom Holdings SOC
MTN |
||||||||
6.350%, 08/10/28 |
1,400,000 |
1,473,500 |
||||||
Supranational — 0.3% |
||||||||
Government — 0.3% |
||||||||
Africa Finance |
||||||||
2.875%, 04/28/28 |
400,000 |
393,200 |
||||||
Tanzania — 0.3% |
||||||||
Materials — 0.3% |
||||||||
AngloGold Ashanti
Holdings |
||||||||
3.375%, 11/01/28 |
400,000 |
393,146 |
Schedule
of Investments |
November
30, 2021 | |
Global
X Emerging Markets Bond ETF |
Face
Amount |
Value |
|||||||
CORPORATE OBLIGATIONS —
continued |
||||||||
Thailand — 0.5% |
||||||||
Materials — 0.5% |
||||||||
GC Treasury Center
MTN |
||||||||
4.300%, 03/18/51 |
$ |
200,000 |
$ |
224,127 |
||||
2.980%, 03/18/31 |
400,000 |
406,416 |
||||||
630,543 |
||||||||
United Arab Emirates — 3.7% |
||||||||
Financials — 1.9% |
||||||||
First Abu Dhabi Bank
PJSC MTN |
||||||||
1.024%,
VAR ICE LIBOR USD 3 Month + 0.900%, 07/08/24 |
600,000 |
602,928 |
||||||
0.994%,
VAR ICE LIBOR USD 3 Month + 0.850%, 08/08/23 |
1,800,000 |
1,805,450 |
||||||
MDGH - GMTN BV
MTN |
||||||||
2.500%, 05/21/26 |
200,000 |
205,500 |
||||||
2,613,878 |
||||||||
Government — 1.2% |
||||||||
Sharjah Sukuk
Program |
||||||||
3.234%, 10/23/29 |
400,000 |
404,495 |
||||||
2.942%, 06/10/27 |
600,000 |
603,000 |
||||||
Sharjah Sukuk Program
MTN |
||||||||
3.854%, 04/03/26 |
600,000 |
635,298 |
||||||
1,642,793 |
||||||||
Industrials —
0.6% |
||||||||
DP World
Crescent |
||||||||
3.908%, 05/31/23 |
200,000 |
206,400 |
||||||
DP World Crescent
MTN |
||||||||
4.848%, 09/26/28 |
400,000 |
447,566 |
||||||
DP World MTN |
||||||||
6.850%, 07/02/37 |
100,000 |
131,120 |
||||||
785,086 |
||||||||
United States — 2.1% |
||||||||
Financials — 2.1% |
||||||||
Goldman Sachs
Group |
||||||||
0.914%,
VAR ICE LIBOR USD 3 Month + 0.750%, 02/23/23 |
1,000,000 |
1,004,340 |
Schedule
of Investments |
November
30, 2021 | |
Global
X Emerging Markets Bond ETF |
Face
Amount |
Value |
|||||||
CORPORATE OBLIGATIONS —
continued |
||||||||
Financials —
continued |
||||||||
Morgan Stanley
MTN |
||||||||
1.524%,
VAR ICE LIBOR USD 3 Month + 1.400%, 10/24/23 |
$ |
1,000,000 |
$ |
1,011,032 |
||||
1.364%,
VAR ICE LIBOR USD 3 Month + 1.220%, 05/08/24 |
800,000 |
810,922 |
||||||
2,826,294 |
||||||||
TOTAL CORPORATE OBLIGATIONS |
||||||||
(Cost $53,961,006) |
53,237,213 |
|||||||
U.S. TREASURY OBLIGATIONS —
1.3% |
||||||||
U.S.
Treasury Notes |
||||||||
0.375%, 11/30/25 |
400,000 |
389,344 |
||||||
0.125%, 02/28/23 |
1,400,000 |
1,396,773 |
||||||
TOTAL U.S. TREASURY OBLIGATIONS |
||||||||
(Cost $1,798,852) |
1,786,117 |
|||||||
TOTAL INVESTMENTS — 94.2% |
||||||||
(Cost $132,821,590) |
$ |
128,513,476 |
(A) |
Step Bonds – Represents
the current rate, the step rate, the step date and the final maturity
date. |
(B) |
Security exempt from
registration under Rule 144A of the Securities Act of 1933. This security
may be resold in transactions exempt from registration normally to
qualified institutions. On November 30, 2021, the value of
these securities amounted to $1,353,866, representing 1.0% of the Net
Assets of the Fund. |
Schedule
of Investments |
November
30, 2021 | |
Global
X Emerging Markets Bond ETF |
Schedule
of Investments |
November
30, 2021 | |
Global
X China Innovation ETF |
Shares |
Value |
|||||||
COMMON STOCK —
91.0% |
||||||||
CHINA — 88.8% |
||||||||
Communication Services — 9.7% |
||||||||
Bilibili ADR * |
1,240 |
$ |
81,853 |
|||||
NetEase |
1,800 |
38,928 |
||||||
Tencent Holdings |
4,200 |
247,501 |
||||||
368,282 |
||||||||
Consumer Discretionary — 13.7% |
||||||||
Alibaba Group Holding * |
9,400 |
153,494 |
||||||
BYD, Cl H |
3,000 |
117,909 |
||||||
Fuyao
Glass Industry Group, Cl H |
10,800 |
59,501 |
||||||
Meituan, Cl B * |
3,000 |
91,587 |
||||||
NavInfo, Cl A * |
26,200 |
64,012 |
||||||
NIO ADR * |
843 |
32,987 |
||||||
519,490 |
||||||||
Consumer Staples — 1.6% |
||||||||
Tongwei, Cl A |
8,700 |
61,285 |
||||||
Financials — 3.1% |
||||||||
East Money Information, Cl A |
17,100 |
92,890 |
||||||
Lufax Holding ADR * |
4,247 |
27,096 |
||||||
119,986 |
Schedule
of Investments |
November
30, 2021 | |
Global
X China Innovation ETF |
Shares |
Value |
|||||||
COMMON STOCK —
continued |
||||||||
Health Care — 15.4% |
||||||||
Hangzhou
Tigermed Consulting, Cl A |
2,200 |
$ |
47,361 |
|||||
Innovent Biologics * |
12,500 |
111,197 |
||||||
Jiangsu
Hengrui Medicine, Cl A |
7,460 |
58,692 |
||||||
Ping An
Healthcare and Technology * |
24,000 |
90,509 |
||||||
Shenzhen
Mindray Bio-Medical Electronics, Cl A |
1,500 |
84,312 |
||||||
WuXi AppTec, Cl H |
5,020 |
111,851 |
||||||
Wuxi Biologics Cayman * |
6,000 |
81,736 |
||||||
585,658 |
||||||||
Industrials — 21.4% |
||||||||
Contemporary
Amperex Technology, Cl A |
1,100 |
117,299 |
||||||
Estun Automation, Cl A |
9,100 |
39,258 |
||||||
Eve Energy, Cl A |
3,700 |
84,852 |
||||||
Guangzhou
KDT Machinery, Cl A |
15,400 |
77,763 |
||||||
Han’s
Laser Technology Industry Group, Cl A |
14,900 |
105,497 |
||||||
Ming
Yang Smart Energy Group, Cl A |
5,800 |
28,987 |
||||||
NARI Technology, Cl A |
18,000 |
116,888 |
||||||
Riyue Heavy Industry, Cl A |
6,570 |
37,513 |
||||||
SF Holding, Cl A |
8,400 |
80,656 |
||||||
Shenzhen
Inovance Technology, Cl A |
4,400 |
45,264 |
||||||
Zhuzhou
CRRC Times Electric, Cl H |
3,500 |
23,076 |
||||||
ZTO Express Cayman ADR |
1,853 |
58,573 |
||||||
815,626 |
||||||||
Information Technology — 23.9% |
||||||||
GDS Holdings ADR * |
724 |
40,573 |
||||||
GoerTek, Cl A |
10,200 |
83,304 |
||||||
Hua Hong Semiconductor * |
24,000 |
160,701 |
||||||
Iflytek |
8,500 |
71,979 |
||||||
LONGi
Green Energy Technology, Cl A |
9,140 |
125,300 |
||||||
Luxshare
Precision Industry, Cl A |
11,800 |
73,370 |
||||||
Sangfor Technologies, Cl A |
1,700 |
52,305 |
||||||
Will
Semiconductor Shanghai, Cl A |
1,400 |
59,799 |
Schedule
of Investments |
November
30, 2021 | |
Global
X China Innovation ETF |
Shares |
Value |
|||||||
COMMON STOCK —
continued |
||||||||
Information Technology — continued |
||||||||
Wuxi
Lead Intelligent Equipment, Cl A |
8,080 |
$ |
100,442 |
|||||
Xiaomi, Cl B * |
23,200 |
57,376 |
||||||
Xinyi Solar Holdings |
46,000 |
84,378 |
||||||
909,527 |
||||||||
TOTAL CHINA |
3,379,854 |
|||||||
HONG KONG — 2.2% |
||||||||
Health Care — 2.2% |
||||||||
Sino Biopharmaceutical |
113,000 |
82,476 |
||||||
TOTAL COMMON STOCK |
||||||||
(Cost $3,845,209) |
3,462,330 |
|||||||
TOTAL INVESTMENTS — 91.0% |
||||||||
(Cost $3,845,209) |
$ |
3,462,330 |
* |
Non-income producing
security. |
Statements
of Assets and Liabilities |
||
November
30, 2021 |
Global
X Emerging Markets Bond ETF |
Global
X China
Innovation
ETF |
|||||||
Assets: |
||||||||
Cost
of Investments |
$ |
132,821,590 |
$ |
3,845,209 |
||||
Cost
of Foreign Currency |
— |
12,493 |
||||||
Investments,
at Value |
$ |
128,513,476 |
$ |
3,462,330 |
||||
Cash |
7,924,605 |
318,678 |
||||||
Foreign
Currency, at Value |
— |
12,514 |
||||||
Dividend
and Interest Receivable |
1,429,541 |
487 |
||||||
Receivable
for Investment Securities Sold |
1,075,072 |
12,816 |
||||||
Total
Assets |
138,942,694 |
3,806,825 |
||||||
Liabilities: |
||||||||
Payable
for Investment Securities Purchased |
2,508,196 |
— |
||||||
Payable
due to Investment Adviser |
43,483 |
2,382 |
||||||
Total
Liabilities |
2,551,679 |
2,382 |
||||||
Net
Assets |
$ |
136,391,015 |
$ |
3,804,443 |
||||
Net
Assets Consist of: |
||||||||
Paid-in
Capital |
$ |
139,526,597 |
$ |
4,792,212 |
||||
Total
Distributable Loss |
(3,135,582 |
) |
(987,769 |
) | ||||
Net
Assets |
$ |
136,391,015 |
$ |
3,804,443 |
||||
Outstanding
Shares of Beneficial Interest |
||||||||
(unlimited
authorization — no par value) |
5,300,000 |
200,000 |
||||||
Net
Asset Value, Offering and Redemption Price Per Share |
$ |
25.73 |
$ |
19.02 |
Statements
of Operations |
||
For
the year ended November 30, 2021 |
Global
X Emerging Markets Bond ETF |
Global
X China
Innovation
ETF(1) |
|||||||
Investment
Income: |
||||||||
Dividend
Income |
$ |
— |
$ |
14,701 |
||||
Interest
Income |
4,098,692 |
— |
||||||
Less:
Foreign Taxes Withheld |
(29,199 |
) |
(1,051 |
) | ||||
Total
Investment Income |
4,069,493 |
13,650 |
||||||
Supervision
and Administration Fees(2) |
421,953 |
22,882 |
||||||
Custodian
Fees(3) |
12 |
— |
||||||
Total
Expenses |
421,965 |
22,882 |
||||||
Net
Investment Income (Loss) |
3,647,528 |
(9,232 |
) | |||||
Net
Realized Gain (Loss) on: |
||||||||
Investments(4) |
2,204,874 |
(619,363 |
) | |||||
Foreign Currency
Transactions |
— |
(2,798 |
) | |||||
Net
Realized Gain (Loss) on Investments and Foreign Currency
Transactions |
2,204,874 |
(622,161 |
) | |||||
Net
Change in Unrealized Appreciation (Depreciation) on: |
||||||||
Investments |
(7,982,777 |
) |
(382,879 |
) | ||||
Foreign Currency
Translations |
— |
21 |
||||||
Net
Change in Unrealized Depreciation on Investments and Foreign Currency
Translations |
(7,982,777 |
) |
(382,858 |
) | ||||
Net
Realized and Unrealized Loss on Investments and Foreign Currency
Transactions and Translations |
(5,777,903 |
) |
(1,005,019 |
) | ||||
Net
Decrease in Net Assets Resulting from Operations |
$ |
(2,130,375 |
) |
$ |
(1,014,251 |
) |
(1) |
The Fund commenced
operations on February 22, 2021. |
(2) |
The Supervision and
Administration fees reflect the supervisory and administrative fee, which
includes fees paid by the Funds for the investment advisory services
provided by the Adviser. (See Note 3 in Notes to Financial
Statements.) |
(3) |
See Note 2 in the Notes to
Financial Statements. |
(4) |
Includes realized gains
(losses) as a result of in-kind redemptions. (See Note 4 in Notes to
Financial Statements.) |
Statements
of Changes in Net Assets |
Global
X Emerging Markets
Bond
ETF |
Global
X China
Innovation
ETF |
|||||||||||
Year
Ended
November 30,
2021 |
Period Ended
November 30, 2020(1) |
Period Ended
November 30, 2021(2) |
||||||||||
Operations: |
||||||||||||
Net
Investment Income (Loss) |
$ |
3,647,528 |
$ |
1,102,970 |
$ |
(9,232 |
) | |||||
Net
Realized Gain (Loss) on Investments and Foreign Currency
Transactions(3) |
2,204,874 |
822,777 |
(622,161 |
) | ||||||||
Net
Change in Unrealized Appreciation (Depreciation) on Investments and
Foreign Currency Translations |
(7,982,777 |
) |
3,674,663 |
(382,858 |
) | |||||||
Net
Increase (Decrease) in Net Assets Resulting from Operations |
(2,130,375 |
) |
5,600,410 |
(1,014,251 |
) | |||||||
Distributions |
(4,845,615 |
) |
(1,097,040 |
) |
— |
|||||||
Capital
Share Transactions: |
||||||||||||
Issued |
82,995,668 |
64,235,133 |
4,818,694 |
|||||||||
Redeemed |
(8,367,166 |
) |
— |
— |
||||||||
Increase in
Net Assets from Capital Share Transactions |
74,628,502 |
64,235,133 |
4,818,694 |
|||||||||
Total Increase in
Net Assets |
67,652,512 |
68,738,503 |
3,804,443 |
|||||||||
Net
Assets: |
||||||||||||
Beginning
of Year/Period |
68,738,503 |
— |
— |
|||||||||
End
of Year/Period |
$ |
136,391,015 |
$ |
68,738,503 |
$ |
3,804,443 |
||||||
Share
Transactions: |
||||||||||||
Issued |
3,100,000 |
2,500,000 |
200,000 |
|||||||||
Redeemed |
(300,000 |
) |
— |
— |
||||||||
Net
Increase in Shares Outstanding from Share Transactions |
2,800,000 |
2,500,000 |
200,000 |
(1) |
The Fund commenced
operations on June 1, 2020. |
(2) |
The Fund commenced
operations on February 22, 2021. |
(3) |
Includes realized gains
(losses) as a result of in-kind redemptions. (See Note 4 in Notes to
Financial Statements.) |
Financial
Highlights |
Net
Asset
Value, Beginning of Period ($) |
Net
Investment Income (Loss) ($)* |
Net
Realized and Unrealized Loss on Investments ($) |
Total
from Operations ($) |
Distribution
from Net Investment Income ($) |
Distribution
from Capital Gains ($) |
Return
of Capital ($) |
||||||||||||||||||||||
Global X Emerging Markets
Bond ETF |
||||||||||||||||||||||||||||
2021 |
27.50 |
0.90 |
(1.30 |
) |
(0.40 |
) |
(0.99 |
) |
(0.38 |
) |
— |
|||||||||||||||||
2020(1) |
25.00 |
0.49 |
2.47 |
2.96 |
(0.46 |
) |
— |
— |
||||||||||||||||||||
Global X China Innovation
ETF |
||||||||||||||||||||||||||||
2021(2) |
25.00 |
(0.05 |
) |
(5.93 |
) |
(5.98 |
) |
— |
— |
— |
Financial
Highlights |
Total
from Distributions ($) |
Net Asset Value, End of Period ($) |
Total
Return (%)** |
Net
Assets End of Period ($)(000) |
Ratio
of Expenses to Average Net Assets (%) |
Ratio
of Net Investment Income (Loss) to Average Net Assets (%) |
Portfolio
Turnover (%)†† |
||||||||||||||||||||
(1.37 |
) |
25.73 |
(1.60 |
) |
136,391 |
0.39 |
3.37 |
70.51 |
||||||||||||||||||
(0.46 |
) |
27.50 |
11.91 |
68,739 |
0.39 |
† |
3.72 |
† |
38.12 |
|||||||||||||||||
— |
19.02 |
(23.92 |
) |
3,804 |
0.75 |
† |
(0.30 |
)† |
84.85 |
* |
Per share data calculated
using average shares method. |
** |
Total Return is for the
period indicated and has not been annualized. The return shown does not
reflect the deduction of taxes that a shareholder would pay on Fund
distributions or the redemption of Fund shares. |
† |
Annualized. |
†† |
Portfolio turnover rate is
for the period indicated and periods of less than one year have not been
annualized. Excludes effect of in-kind transfers. |
(1) |
The Fund commenced
operations on June 1, 2020. |
(2) |
The Fund commenced
operations on February 22, 2021. |
Notes
to Financial Statements |
||
November
30, 2021 |
Notes
to Financial Statements (continued) |
||
November
30, 2021 |
Notes
to Financial Statements (continued) |
||
November
30, 2021 |
Notes
to Financial Statements (continued) |
||
November
30, 2021 |
Notes
to Financial Statements (continued) |
||
November
30, 2021 |
Creation
Unit
Shares |
Creation
Fee |
Value
at
November 30,
2021 |
Redemption
Fee |
|||||||||||||
Global X Emerging Markets Bond ETF |
100,000 |
$ |
500 |
$ |
2,573,000 |
$ |
500 |
|||||||||
Global X China Innovation ETF |
10,000 |
900 |
190,200 |
900 |
Notes
to Financial Statements (continued) |
||
November
30, 2021 |
Supervision
and Administration Fee |
||||
Global X Emerging Markets Bond ETF |
0.39 |
% | ||
Global X China Innovation ETF |
0.75 |
% |
Notes
to Financial Statements (continued) |
||
November
30, 2021 |
● |
0.14% on assets for any day that total assets
are greater than or equal to $50 million. |
● |
0.00% on assets for any day that total assets
are less than $50 million. |
● |
0.32% on all assets |
Notes
to Financial Statements (continued) |
||
November
30, 2021 |
2021 |
Purchases |
Sales
and Maturities |
||||||
Global X Emerging Markets Bond ETF |
$ |
64,391,135 |
$ |
68,949,590 |
||||
Global X China Innovation ETF |
7,427,261 |
2,962,758 |
2021 |
Purchases |
Sales
and Maturities |
Realized
Gain |
|||||||||
Global X Emerging Markets Bond ETF |
$ |
78,302,339 |
$ |
7,890,506 |
$ |
622,962 |
||||||
Global X China Innovation ETF |
− |
− |
− |
2020 |
Purchases |
Sales
and Maturities |
Realized
Gain |
|||||||||
Global X Emerging Markets Bond ETF |
$ |
58,670,918 |
$ |
− |
$ |
− |
Notes
to Financial Statements (continued) |
||
November
30, 2021 |
Global X Funds |
Paid-in
Capital |
Distributable
Earnings (Loss) |
||||||
Global X Emerging Markets Bond ETF |
$ |
662,962 |
$ |
(662,962 |
) | |||
Global X China Innovation ETF |
(26,482 |
) |
26,482 |
Global X Funds |
Ordinary
Income |
Long-Term
Capital Gain |
Return
of Capital |
Totals |
||||||||||||
Global X Emerging Markets Bond ETF |
||||||||||||||||
2021 |
$ |
4,845,615 |
$ |
– |
$ |
– |
$ |
4,845,615 |
||||||||
2020 |
1,097,040 |
– |
– |
1,097,040 |
||||||||||||
Global X China Innovation ETF |
||||||||||||||||
2021 |
$ |
– |
$ |
– |
$ |
– |
$ |
– |
Global
X Funds |
||||||||
Global
X Emerging Markets Bond ETF |
Global
X China
Innovation
ETF |
|||||||
Undistributed
Ordinary Income |
$ |
1,276,756 |
$ |
– |
||||
Undistributed
Long-Term Capital Gain |
66,383 |
– |
||||||
Post
October Losses |
(38,474 |
) |
– |
|||||
Capital
Loss Carryforwards |
– |
(493,183 |
) | |||||
Unrealized
Depreciation on Investments and Foreign Currency |
(4,440,247 |
) |
(485,185 |
) | ||||
Late
Year Loss Deferral |
– |
(9,400 |
) | |||||
Other
Temporary Differences |
– |
(1 |
) | |||||
Total Accumulated
Losses |
$ |
(3,135,582 |
) |
$ |
(987,769 |
) |
Notes
to Financial Statements (continued) |
||
November
30, 2021 |
Global X Funds |
Federal
Tax Cost |
Aggregated
Gross Unrealized Appreciation |
Aggregated
Gross Unrealized Depreciation |
Net
Unrealized Depreciation |
||||||||||||
Global X Emerging Markets Bond ETF |
$ |
132,953,723 |
$ |
640,520 |
$ |
(5,080,767 |
) |
$ |
(4,440,247 |
) | ||||||
Global X China Innovation ETF |
3,947,536 |
294,955 |
(780,140 |
) |
(485,185 |
) |
Global X Funds |
Short-Term
Loss |
Long-Term
Loss |
Total |
|||||||||
Global X China Innovation ETF |
$ |
493,183 |
$ |
– |
$ |
493,183 |
Notes
to Financial Statements (continued) |
||
November
30, 2021 |
Notes
to Financial Statements (continued) |
||
November
30, 2021 |
Notes
to Financial Statements (continued) |
||
November
30, 2021 |
Notes
to Financial Statements (continued) |
||
November
30, 2021 |
Notes
to Financial Statements (concluded) |
||
November
30, 2021 |
Report
of Independent Registered Public Accounting Firm |
||
Global X
Emerging Markets Bond ETF (1) |
Global X
China Innovation ETF (2) | |
(1) |
Statement
of operations for the year ended November 30, 2021, and statements of
changes in net assets for the year ended November 30, 2021 and the period
June 1, 2020 (commencement of operations) through November 30,
2020. | |
(2) |
Statement
of operations and statement of changes in net assets for the period
February 22, 2021 (commencement of operations) through November 30,
2021. |
Report
of Independent Registered Public Accounting Firm |
||
Disclosure
of Fund Expenses (unaudited) |
||
Disclosure
of Fund Expenses (unaudited) |
||
Beginning
Account Value 6/1/2021 |
Ending
Account Value 11/30/2021 |
Annualized
Expense Ratios |
Expenses
Paid During Period(1) |
|||||||||||||
Global X Emerging Markets
Bond ETF |
||||||||||||||||
Actual Fund
Return |
$ |
1,000.00 |
$ |
978.89 |
0.39 |
% |
$ |
1.93 |
||||||||
Hypothetical 5%
Return |
1,000.00 |
1,023.11 |
0.39 |
1.98 |
||||||||||||
Global X China Innovation
ETF |
||||||||||||||||
Actual Fund
Return |
$ |
1,000.00 |
$ |
903.13 |
0.75 |
% |
$ |
3.58 |
||||||||
Hypothetical 5%
Return |
1,000.00 |
1,021.31 |
0.75 |
3.80 |
(1) |
Expenses
are equal to the Fund’s annualized expense ratio multiplied by the average
account value over the period, multiplied by 183/365 (to reflect the
one-half year period.) |
Approval
of Investment Advisory Agreement and Sub-Advisory Agreement (unaudited) |
||
1 |
This
meeting was held via videoconference in reliance on an exemptive order
issued by the Securities and Exchange Commission on March 25, 2020.
Reliance on the exemptive order is necessary and appropriate due to
circumstances related to current or potential effects of COVID-19. All
Trustees participating in the telephonic meeting were able to hear each
other simultaneously during the meeting. Reliance on the exemptive order
requires Trustees, including a majority of the Independent Trustees, to
ratify actions taken pursuant to the exemptive order by vote cast at the
next in-person meeting. |
Approval
of Investment Advisory Agreement and Sub-Advisory Agreement (unaudited) |
||
Approval
of Investment Advisory Agreement and Sub-Advisory Agreement (unaudited) |
||
Approval
of Investment Advisory Agreement and Sub-Advisory Agreement (unaudited) |
||
Approval
of Investment Advisory Agreement and Sub-Advisory Agreement (unaudited) |
||
Approval
of Investment Advisory Agreement and Sub-Advisory Agreement (unaudited) |
||
Approval
of Investment Advisory Agreement and Sub-Advisory Agreement (unaudited) |
||
Approval
of Investment Advisory Agreement and Sub-Advisory Agreement (unaudited) |
||
Approval
of Investment Advisory Agreement and Sub-Advisory Agreement (unaudited) |
||
Approval
of Investment Advisory Agreement and Sub-Advisory Agreement (unaudited) |
||
Approval
of Investment Advisory Agreement and Sub-Advisory Agreement (unaudited) |
||
Supplemental
Information (unaudited) |
||
Trustees
and Officers of the Trust (unaudited) |
Name,
Address
(Year
of Birth) |
Position(s)
Held
with
Trust |
Principal
Occupation(s) During
the
Past 5 Years |
Number
of Funds in Trust Overseen by Trustee |
Other
Directorships Held
by
Trustees |
Independent Trustees1 |
||||
Charles A. Baker
605 Third Avenue,
43rd Floor
New York, NY 10158
(1953) |
Trustee (since 07/2018) |
Chief Executive Officer of Investment
Innovations LLC (investment consulting) (since 2013); Managing Director of
NYSE Euronext (2003 to 2012). |
1022 |
Trustee of OSI ETF Trust (since
2016). |
Susan M. Ciccarone
605 Third Avenue,
43rd Floor
New York, NY 10158
(1973) |
Trustee (since 9/30/2019) |
Partner, Further Global Capital Management
(private equity) (since 2017); formerly Chief Operating Officer
(2014-2016) and Chief Financial Officer (2012-2016), Emerging Global
Advisors, LLC (ETF issuer). |
1022 |
Chairman, Payment Alliance International, Inc.
(since 2019); Director, Casa Holdco LP, parent of Celink (since
2018). |
Clifford J. Weber
605 Third Avenue,
43rd Floor
New York, NY 10158
(1963) |
Trustee (since 07/2018) |
Owner, Financial Products Consulting Group LLC
(consulting services to financial institutions) (since 2015); formerly,
Executive Vice President of Global Index and Exchange-Traded Products,
NYSE Market, Inc., a subsidiary of Intercontinental Exchange (ETF/ETP
listing exchange) (2013-2015). |
1022 |
Chairman (since 2017) and Trustee (since 2015)
of Clough Funds Trust; Chairman and Trustee of Clayton Street Trust (since
2016); Chairman and Trustee of Janus Detroit Street Trust (since 2016);
Chairman and Trustee of Elevation ETF Trust (2016-2018); Trustee of Clough
Global Equity Fund (since 2017); Trustee of Clough Global Dividend and
Income Fund (since 2017); and Trustee of Clough Global Opportunities Fund
(since 2017). |
Trustees
and Officers of the Trust (unaudited) |
Name,
Address
(Year
of Birth) |
Position(s)
Held
with
Funds |
Principal
Occupation(s) During
the
Past 5 Years |
Number
of Funds in Trust Overseen by Trustee |
Other
Directorships Held
by
Trustees |
Interested Trustee /
Officers1 |
||||
Luis
Berruga
605
Third Avenue,
43rd
Floor
New
York, NY 10158
(1977) |
Trustee
(since 07/2018); President (since 2018) |
Chief
Executive Officer, GXMC (since 07/2018), Chief Financial Officer (since
2/2014) and Chief Operating Officer (9/2015 - 7/2018); Investment Banker,
Jefferies (2012-2014). |
1022 |
None. |
John
Belanger
605 Third
Avenue,
43rd
Floor
New York,
NY 10158
(1982) |
Chief
Operating Officer and Chief Financial Officer (since 12/2020) |
Chief
Operating Officer and Head of Portfolio Management & Portfolio
Administration, GXMC (since 12/2020); Portfolio Manager (since 12/2020);
Secretary of the Trust (3/2020-9/2020); Head of Product Management, GXMC
(since 1/2020); Consultant to GXMC (9/2018-12/2019); Chief Operating
Officer, Rex Shares, LLC (2014-2018). |
N/A |
N/A. |
Susan
Lively
605 Third
Avenue,
43rd
Floor
New York,
NY 10158
(1981) |
Secretary
(since 9/2020) |
General
Counsel, GXMC (since 9/2020); Senior Corporate Counsel at Franklin
Templeton (previously, Managing Director and Associate General Counsel at
Legg Mason & Co., LLC) (2014-2020). |
N/A |
N/A. |
Eric
Griffith3
One
Freedom Valley Drive
Oaks, PA
19456
(1969) |
Assistant
Secretary (since 2/2020) |
Counsel,
SEI Investments (since 10/2019); Vice President and Assistant General
Counsel, JPMorgan Chase & Co. (2012-2018). |
N/A |
N/A. |
Joe
Costello
605 Third
Avenue,
43rd
Floor
New York,
NY 10158
(1974) |
Chief
Compliance Officer (since 9/2016) |
Chief
Compliance Officer, FlexShares Funds (2011-2015); Vice President, Northern
Trust Investments (2003 - 2015). |
N/A |
N/A |
Ronnie
Riven
605 Third
Avenue,
43rd
Floor
New York,
NY 10158
(1984) |
Treasurer
and Principal Accounting Officer (since 12/2020) |
Director
of Finance, GXMC (since 2018); Director of Accounting and Finance at
Barclays Center (2016-2018); Manager of External Reporting at National
Grid (2013-2015). |
N/A |
N/A |
Eric
Olsen3
One
FreedomValley Drive
Oaks, PA
19456
(1970) |
Assistant
Treasurer (since 5/2021) |
Director
of Accounting, SEI Investment Manager Services (March 2021 to present);
formerly, Deputy Head of Fund Operations, Traditional Assets, Aberdeen
Standard Investments (2013-2021). |
N/A |
N/A |
1 |
Each Trustee serves until
his or her successor is duly elected or appointed and
qualified. |
2 |
As of November 30, 2021,
the Trust had one hundred and two investment portfolios, eighty-nine of
which were operational. |
3 |
This officer of the Trust
also serves as an officer of one or more funds for which SEI Investments
Company or an affiliate acts as investment manager, administrator or
distributor. |
Notice
to Shareholders (unaudited) |
Long-Term
Capital Gain Distributions |
Ordinary
Income Distributions |
Return
of
Capital |
Total
Distributions |
Qualifying
for Corporate Dividends Received Deduction (1) |
Qualifying
Dividend
Income
(2) |
|||||||||||||||||||
Global X Emerging Markets Bond ETF |
0.00 |
% |
100.00 |
% |
0.00 |
% |
100.00 |
% |
0.00 |
% |
0.00 |
% | ||||||||||||
Global X China Innovation ETF |
0.00 |
% |
0.00 |
% |
0.00 |
% |
0.00 |
% |
0.00 |
% |
0.00 |
% |
(1) |
Qualifying dividends represent dividends which
qualify for the corporate dividends received deduction and is reflected as
a percentage of ordinary income distributions (the total of short term
capital gain and net investment income distributions). |
(2) |
The percentage in this column represents the
amount of “Qualifying Dividend Income” as created by the Jobs and Growth
Relief Reconciliation Act of 2003 and is reflected as a percentage of
ordinary income distributions (the total of short term capital gain and
net investment income distributions). It is the intention of the Funds to
designate the maximum amount permitted by law. |
Notice
to Shareholders (unaudited) |
||
U.S.
Government Interest(3) |
Interest
Related Dividends(4) |
Short
Term Capital Gain Dividends(5) |
Qualifying
Business Income(6) |
Foreign
Tax Credit |
||||||||||||||||
Global X Emerging Markets Bond ETF |
0.10 |
% |
69.38 |
% |
100.00 |
% |
0.00 |
% |
0.00 |
% | ||||||||||
Global X China Innovation ETF |
0.00 |
% |
0.00 |
% |
0.00 |
% |
0.00 |
% |
0.00 |
% |
(3) |
“U.S. Government
Interest” represents the amount of interest that was derived from U.S.
Government obligations and distributed during the fiscal year. Generally,
interest from direct U.S. Government obligations is exempt from state
income tax. However, for shareholders who are residents of California,
Connecticut and New York, the statutory threshold requirements were not
satisfied to permit exemption of these amounts from state
income. |
(4) |
The percentage in this
column represents the amount of “Qualifying Interest Income” as created by
the American Jobs Creation Act of 2004 and is a percentage of net
investment income that is exempt from U.S. withholding tax when paid for
foreign investors. |
(5) |
The percentage of this
column represents the amount of “Short Term Capital Gain Dividend’’ and is
reflected as a percentage of short term capital gain distribution that is
exempted from U.S. withholding tax when paid to foreign
investors. |
(6) |
The percentage of this
column represents that amount of ordinary dividend income that qualified
for 20% Business Income Deduction. |
Notes |
Notes |
Notes |