As permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Fund’s (defined below) shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from your financial intermediary (such as a broker-dealer or bank). Instead, shareholder reports will be available on the Fund’s website (www. globalxetfs.com/explore), and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from the Funds electronically anytime by contacting your financial intermediary.

You may elect to receive all future Fund shareholder reports in paper free of charge. Please contact your financial intermediary to inform them that you wish to continue receiving paper copies of Fund shareholder reports and for details about whether your election to receive reports in paper will apply to all funds held with your financial intermediary.

Global X Social Media ETF

The Global X Social Media ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Social Media Total Return Index (“Underlying Index”). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index is designed to reflect the performance of companies involved in the social media industry, including companies that provide social networking, file sharing, and other web-based media applications, as defined by Solactive AG, the provider of the Underlying Index.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 59.24%, while the Underlying Index decreased 59.15%. The Fund had a net asset value of $61.26 per share on October 31, 2021 and ended the reporting period with a net asset value of $24.88 per share on October 31, 2022.

During the reporting period, the highest returns came from Zynga Inc. and Twitter Inc., which returned 10.84% and 0.30%, respectively. The worst performers were Vimeo, Inc. and Bilibili, Inc, which returned -88.73% and -87.83%, respectively.

Fund performance was negative over the reporting period as the COVID-19 pandemic-induced growth for the social media industry faded. Macroeconomic challenges, increased competition for user attention, a weaker economy, and inflationary pressures all contributed to this decline. Given tightened spending budgets, a significant portion of companies cut their digital advertisement spending which is the primary source of revenue for most social platforms. Additionally, as pandemic conditions continued to ease, consumers returned to spending more of their time offline. Sector weighting of the Fund was highest in Communication Services, at 98.10% during the reporting period. Geographically, the Fund maintained an average allocation of 49.66% to United States stocks, followed by China (30.06%) and South Korea (11.08%) during the reporting period.

* The Fund commenced operations on November 14, 2011.

The MSCI ACWI (Net) (All Country World Index) Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging market

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices on the previous page.

Global X Lithium & Battery Tech ETF

The Global X Lithium & Battery Tech ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global Lithium Index (“Underlying Index”). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index is designed to measure broad-based equity market performance of global companies involved in the lithium industry, as defined by Solactive AG, the provider of the Underlying Index.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 26.10%, while the Underlying Index decreased 25.65%. The Fund had a net asset value of $91.07 per share on October 31, 2021 and ended the reporting period with a net asset value of $67.13 per share on October 31, 2022.

During the reporting period, the highest returns came from Pilbara Minerals Limited and Sociedad Quimica y Minera de Chile SA, which returned 96.97% and 80.14%, respectively. The worst performers were Varta AG and QuantumScape Corporation, which returned -82.04% and -71.22%, respectively.

Over the reporting period, rising prices for raw material inputs used in battery manufacturing, as well as supply chain disruptions caused by the Russia-Ukraine war and COVID-19 pandemic-related lockdown measures in China contributed to the Fund's negative performance. Battery tech companies struggled to pass rising costs onto consumers through most of the reporting period, contributing to negative sentiments toward various Fund holdings. Lithium miners however, benefitted from the materials pricing environment, as lithium prices reached record highs and remained elevated. This dynamic directly translated into almost unanimous revenue growth and margin expansion amongst senior lithium miners. Strong returns from companies involved in lithium mining provided balance to performance, allowing the Fund to outperform major indexes despite a negative return. During the reporting period, the Fund had an average approximate stock exposure of 41.87% in China, 21.49% in the United States, 10.80% in South Korea, and 10.25% in Japan. By sector, it had the highest exposure to Materials, at 47.69%, followed by Industrials (20.33%), Information Technology (16.24%), and Consumer Discretionary (15.61%).

*Fund commenced operations on July 22, 2010.

The MSCI ACWI (All Country World Index) Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices on the previous page.

Global X Disruptive Materials ETF

The Global X Disruptive Materials ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Disruptive Materials Index (“Underlying Index”). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index is designed to provide exposure to companies that produce metals and other raw or composite materials that have been identified as being essential to disruptive technologies such as lithium batteries, solar panels, wind turbines, fuel cells, robotics, and 3D printers. Each material has been determined by Solactive AG, the provider of the Underlying Index (the “Index Provider”) to be instrumental to the development and materialization of one or more disruptive technologies. Disruptive technologies refer to those technologies that are essential to the development and materialization of long-term, structural changes to existing products, services, industries, or sectors. Specifically, the Underlying Index will include securities issued by “Disruptive Materials Companies” as defined by the Index Provider.

From the inception of the Fund to period ended October 31, 2022 (the “reporting period”), the Fund decreased 22.98%, while the Underlying Index decreased 22.72%. The Fund had a net asset value of $23.75 per share on January 24, 2022 and ended the reporting period with a net asset value of $18.07 on October 31, 2022.

During the reporting period, the highest returns came from Livent Corp and Teck Resources Limited, which returned 44.09% and 34.82%, respectively. The worst performers were Nickel Industries Ltd. and Yunnan Tin Co Ltd, which returned -55.50% and -55.19%, respectively.

The Fund generated negative returns over the reporting period due to factors including investor concerns of an economic slowdown and geopolitical complications. Commodity prices generally entered 2022 at elevated levels due to strong demand and supply chain disruptions attributable to the COVID-19 pandemic. However, later in the reporting period, investor fears of recession lead to declining materials prices and, in turn, declining investor sentiment toward relevant suppliers. Additionally, disruptions in China as well as warfare in Ukraine contributed to negative sentiments. COVID-19 pandemic-related lockdowns caused decreased investor confidence in China, leading to speculation that demand for raw materials could falter. These lockdowns also generated negative sentiment as China is a key mining and processing center for several disruptive materials. Furthermore, conflict between Russian and Ukraine had a mixed impact on material suppliers. The conflict created supply chain disruptions that support higher pricing. However, the conflict also led to energy shortages that jeopardized European manufacturing capacity for raw materials throughout the reporting period. During the reporting period, the Fund had an average approximate stock exposure of 27.39% in China, 18.92% in the United States, 13.66% in South Africa, and 11% in Australia. By sector, it had the highest exposure to Materials, at 93.59%, followed by Industrials (5.94%), Information Technology (0.29%).

* The Fund commenced operations on January 24, 2022.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices above.

Global X E-commerce ETF

The Global X E-commerce ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive E-commerce Index (“Underlying Index”). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index is designed to provide exposure to exchange-listed companies that are positioned to benefit from the increased adoption of e-commerce as a distribution model, including but not limited to companies whose principal business is in operating e-commerce platforms, providing e-commerce software and services, and/or selling goods and services online (collectively, "E-commerce Companies"), as defined by Solactive AG, the provider of the Underlying Index.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 51.19%, while the Underlying Index decreased 51.02%. The Fund had a net asset value of $31.19 per share on October 31, 2021 and ended the reporting period with a net asset value of $15.14 per share on October 31, 2022.

During the reporting period, the highest returns came from GoDaddy, Inc. and 1stdibs.com, Inc., which returned 16.24% and 4.48%, respectively. The worst performers were eHealth, Inc. and Wayfair, Inc., which returned -93.96% and -84.78%, respectively.

Globally, E-Commerce Companies have been affected by supply chain issues, rising inflation, and rising interest rates which resulted in negative returns for the Fund during the reporting period. Despite underperformance relative to a period of acceleration in online sales growth driven by the COVID-19 pandemic, key business segments within the e-commerce industry continue to present attractive opportunities. Momentum in emerging markets remains a key driver of e-commerce growth. Furthermore, as a result of the expansive offerings and added convenience of e-commerce for consumers, e-commerce sales as a percentage of total retail sales in the United States increased. Importantly, its market share is still well above comparable periods before the COVID-19 pandemic. During the reporting period, sector weightings were highest in Consumer Discretionary at 67.60%, followed by Communication Services (11.34%). Geographically, the Fund maintained an average allocation of 55.21% to United States stocks, followed by China (25.71%) and the United Kingdom (4.99%) during the reporting period.

* The Fund commenced operations on November 27, 2018.

The MSCI ACWI (Net) (All Country World Index) Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices above.

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Global X Emerging Markets Internet & E-commerce ETF

The Global X Emerging Markets Internet & E-commerce ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Nasdaq CTA Emerging Markets Internet & E-commerce Net Total Return Index (“Underlying Index”). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index is designed to provide exposure to exchange-listed companies that are expected to benefit from further adoption of internet and e-commerce technologies in emerging markets countries (collectively, “Emerging Markets Internet & E-commerce Companies”), as defined by Nasdaq, Inc., the provider of the Underlying Index (the “Index Provider”) and the Consumer TechnologyAssociation (“CTA”). The Index Provider and the CTA have jointly developed the eligibility and selection criteria for the Underlying Index. In order to be eligible for inclusion in the Underlying Index, a company is considered by the CTA to be an Emerging Markets Internet & E-commerce Company if it derives at least 50% of its revenue, operating income, or assets from: (i) internet-related services (including social media and online entertainment), (ii) internet retail commerce, (iii) internet search engine services, and/or (iv) software delivered via the internet.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 54.30%, while the Underlying Index decreased 54.12%. The Fund had a net asset value of $35.97 per share on October 31, 2021 and ended the reporting period with a net asset value of $16.38 per share on October 31, 2022 (as adjusted to account for a 1:3 reverse share split on December 19, 2022).

During the reporting period, the highest return came from Totvs SA, which returned 9.65%. The worst performers were Bilibili, Inc. and Iqiyi, Inc., which returned -87.83% and -75.60%, respectively.

Emerging markets, which are more vulnerable to global economic downturns, faced several challenges leading to negative returns during the reporting period. These included Russia's invasion of Ukraine, soaring energy and commodities prices and high global inflation. These factors, combined with logistical challenges, including supply chain disruptions caused by COVID-19 pandemic-related lockdowns in China, combined to slow growth in emerging markets. Overall, these macroeconomic challenges hurt the performance of many leading Chinese e-commerce companies, contributing to the Fund's negative returns. Despite these challenges, the opportunity for emerging market penetration into the e-commerce industry remains significantly higher than in developed markets, especially as new technologies enter these developing nations. In addition, fiscal policy in many emerging countries was eased after the COVID-19 pandemic, but it is now tightening as governments try to mitigate the impact of inflation. During the reporting period, sector weightings of the Fund were highest in Consumer Discretionary at 51.84%, ahead of Communication Services at 40.22%. Geographically, the Fund maintained an average allocation of 71.15% to Chinese stocks, followed by South Korean (10.97%) and Brazilian (9.23%) during the reporting period.

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* The Fund commenced operations on November 9, 2020.

The MSCI Emerging Markets Index (Net) is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The MSCI Emerging Markets Index consists of the following 21 emerging market country indices: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Morocco, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand, and Turkey.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

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There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices above.

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Global X SuperDividend^® ETF

The Global X SuperDividend^® ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global SuperDividend^® Index (“Underlying Index”). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index tracks the performance of 100 equally-weighted companies that rank among the highest dividend yielding equity securities in the world, including emerging market countries, as defined by Solactive AG, the provider of the Underlying Index ("Index Provider"). The Index Provider applies certain dividend stability filters.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 33.80%, while the Underlying Index decreased 35.81%. The Fund had a net asset value of $39.03 per share on October 31, 2021 and ended the reporting period with a net asset value of $23.05 per share on October 31, 2022 (as adjusted to account for a 1:3 reverse share split on December 19, 2022).

During the reporting period, the highest returns came from Yankuang Energy Group Company Limited and BW LPG Ltd., which returned 63.23% and 54.47%, respectively. The worst performers were PhosAgro PJSC and Evraz Plc, which returned -99.77% and -87.71%, respectively.

The stocks held by the Fund have some of the highest dividend yields in the world. The Fund generated negative returns in the reporting period as increasing volatility negatively impacted the global equity markets. High-dividend-yielding sectors such as real estate experienced a downturn as rising interest rates increased investors' financing costs and weaker consumer sentiment reduced demand for retail space, negatively impacting the Fund's performance. Furthermore, concerns about a global recession impacted the financial services sectors to which the Fund has the most exposure. However, the energy sector has supported the Fund with rising oil and natural gas prices, as many countries ended or eased COVID-19 pandemic-related restrictions. Geographically, the Fund maintained an average allocation of 28.16% to U.S. stocks, followed by China (15.81%), Hong Kong (11.45%) and Brazil (11.06%) during the reporting period. By sector, it averaged an approximate exposure of 29.91% to Financials, 21.94% to Real Estate, 9.25% to Materials, and 9.19% to Energy.

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* The Fund commenced operations on June 8, 2011.

The MSCI ACWI (Net) (All Country World Index) Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices on the previous page.

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Global X SuperDividend® U.S. ETF

The Global X SuperDividend^® U.S. ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Indxx SuperDividend^® U.S. Low Volatility Index (“Underlying Index”). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index is maintained by Indxx, LCC (the "Index Provider"). The Underlying Index tracks the performance of 50 equally weighted common stocks, MLPs and REITs that rank among the highest dividend yielding equity securities in the United States, as defined by the Index Provider. The components of the Underlying Index will have also paid dividends consistently over the last two years. The Underlying Index is comprised of securities that the Index Provider determines to have lower relative volatility than the market.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund increased 1.16%, while the Underlying Index increased 1.80%. The Fund had a net asset value of $20.13 per share on October 31, 2021 and ended the reporting period with a net asset value of $19.18 per share on October 31, 2022.

During the reporting period, the highest returns came from Sabine Royalty Trust and SpartanNash Company, which returned 76.86% and 58.85%, respectively. The worst performers were Warner Bros Discovery, Inc. and AGNC Investment Corp, which returned -46.79% and -41.76%, respectively.

The Fund invests in many of the highest-yielding stocks in the United States. High-dividend investing is a value-oriented strategy, which seeks to produce low-volatility returns. Equity market uncertainty, global growth concerns, and geopolitical crisis made dividend investing more appealing resulting in outperformance compared to the broader S&P 500^® Index during the reporting period, contributing to the Fund's positive returns. The Fund’s exposure to sectors aided by the transition towards renewable energy and rise in energy prices, such as Utilities and Energy added to the Fund’s performance during the reporting period. During the fiscal year, by sector, the Fund averaged an exposure of 19.01% to Energy, 18.24% to Consumer Staples, 16.55% to Utilities, and 12.31% to Financials.

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* The Fund commenced operations on March 11, 2013.

The S&P 500^® Index is a market capitalization weighted composite index of 500 large capitalization U.S. companies.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices on the previous page.

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Global X MSCI SuperDividend^® EAFE ETF

The Global X MSCI SuperDividend^® EAFE ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI EAFE Top 50 Dividend Index (“Underlying Index”). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index tracks the performance of 50 equally-weighted companies that rank among the highest dividend yielding equity securities in Europe, Australasia and the Far East, as defined by MSCI, the provider of the Underlying Index.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 18.12%, while the Underlying Index decreased 17.70%. The Fund had a net asset value of $15.62 per share on October 31, 2021 and ended the reporting period with a net asset value of $11.98 per share on October 31, 2022.

During the reporting period, the highest returns came from Telecom Italia Rsp and British American Tobacco PLC, which returned 27.73% and 21.28%, respectively. The worst performers were Persimmon PLC and Fortum Oyj, which returned -54.91% and -49.47%, respectively.

The Fund experienced negative returns during the reporting period. Performance suffered due to a fall in currencies of countries in developed markets, as the U.S. dollar continued to outperform, and power prices in Europe rose as a result of Russia's invasion of Ukraine, with worsening disruption of energy markets causing negative inflationary impacts. The shift in policy by central banks, including implementing higher interest rates, resulted in continued international equity losses. During the reporting period, sector weighting reported highest in Financials (31.13%), followed by Utilities (19.05%). The Fund has the highest average exposure to U.K. stocks at 22.36%, ahead of Australia (10.82%), Japan (9.98%), and Spain (8.22%).

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* The Fund commenced operations on November 14, 2016.

The MSCI EAFE Index (Net) (Europe, Australasia, Far East) is a free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the US & Canada.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices on the previous page.

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Global X MSCI SuperDividend® Emerging Markets ETF

The Global X MSCI SuperDividend^® Emerging Markets ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Emerging Markets Top 50 Dividend Index (“Underlying Index”). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index is based on the MSCI Emerging Markets Index, its parent index (the "Parent Index"), which includes large and mid-cap stocks across 23 emerging markets countries. The Underlying Index aims to reflect the performance of 50 securities from the Parent Index, selected by dividend yield that have increased or maintained their dividend per share compared to the previous year or have increased or maintained their payout ratio (defined as dividend per share/earnings per share) if the dividend per share has dropped by up to 10%.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 30.80%, while the Underlying Index decreased 31.08%. The Fund had a net asset value of $33.78 per share on October 31, 2021 and ended the reporting period with a net asset value of $21.36 per share on October 31, 2022 (as adjusted to account for a 1:3 reverse share split on December 19, 2022).

During the reporting period, the highest returns came from Yankuang Energy Group Company Limited and Coal India Ltd, which returned 109.90% and 62.86%, respectively. The worst performers were PhosAgro PJSC and Top Glove Corporation Bhd, which returned -99.77% and -74.26%, respectively.

The Fund's holdings include some of the stocks with the highest dividend yields in emerging markets. During the reporting period, tightening monetary policy by central banks, global supply chain issues resulting from Russia's invasion of Ukraine, COVID-19 pandemic-related lockdowns in China and a strong U.S. dollar all contributed to a slowdown in emerging markets economic growth, resulting in the Fund’s negative returns.Additionally, rising commodity prices pushed up inflation rates, negatively impacting consumer purchasing power. Investors also took more of a risk-off perspective with equity markets globally remaining volatile. During the reporting period, the Fund averaged an approximate stock exposure of 26.68% in China, 11.15% in Brazil, 9.37% in South Africa, and 8.73% in Taiwan. By sector, it had the highest exposure to Materials (27.20%), followed by Energy (18.46%), Financials (13.16%), and Real Estate (11.55%) during the reporting period.

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* The Fund commenced operations on March 16, 2015.

** Hybrid Index performance reflects the performance of the INDXX SuperDividend^® Emerging Markets Index through November 15, 2016 and the MSCI Emerging Markets Top 50 Dividend Index thereafter.

The MSCI Emerging Markets Index (Net) is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index.

Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices on the previous page.

20

Global X SuperDividend® REIT ETF

The Global X SuperDividend^® REIT ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global SuperDividend^® REIT Index (“Underlying Index”). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index tracks the performance of Real Estate Investment Trusts (“REITs”) that rank among the highest yielding REITs globally, as determined by Solactive AG, the provider of the Underlying Index.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 21.21%, while the Underlying Index decreased 20.88%. The Fund had a net asset value of $29.46 per share on October 31, 2021 and ended the reporting period with a net asset value of $21.65 per share on October 31, 2022 (as adjusted to account for a 1:3 reverse share split on December 19, 2022).

During the reporting period, the highest returns came from Fibra Uno Administracion SA and Getty Realty Corp, which returned 16.78% and 10.79%, respectively. The worst performers were AGNC Investment Corp and Armour Residential REIT, Inc., which returned -41.76% and -40.78%, respectively.

The Fund invests in real estate investment trusts (“REITs”), which have some of the highest dividend yields in the world. During the reporting period, the housing market experienced an inflection point as a rapid rise in interest rates, rising home prices, and escalating material costs globally made borrowing costlier for consumers, contributing to the Fund's negative performance. Mortgage REITs were affected by this trend, in addition to the impact on the housing market. These factors contributed to the Fund's negative performance. Rising interest rates generally affected REITs in an adverse manner. During the reporting period, the Fund averaged an approximate exposure of 60.36% to Real Estate and 38.87% to Financials. Geographically, the United States led average approximate exposure at 60.26%, followed by Singapore (23.28%) and Canada (8.15%).

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* The Fund commenced operations on March 16, 2015.

The S&P 500^® Index is a market capitalization weighted composite index of 500 large capitalization U.S. companies.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices on the previous page.

Global X NASDAQ 100^® Covered Call ETF

The Global X Nasdaq 100^® Covered Call ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the CBOE Nasdaq-100^® BuyWrite V2 Index (“Underlying Index”). The Fund is passively managed and the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The CBOE NASDAQ-100^® BuyWrite Index (“BXN Index”) is a benchmark index that measures the performance of a theoretical portfolio that holds a portfolio of the stocks included in the NASDAQ-100^® Index (“Reference Index”), and “writes” (or sells) a succession of one-month at-the-money ("ATM") covered call options on the Reference Index. The Underlying Index replicates the methodology used to calculate the BXN Index, with one exception: the written Reference Index covered call options are held until one day prior to the expiration date (i.e., generally the Thursday preceding the Third Friday of the month) and are liquidated at a volume weighted average price determined at the close.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 19.18%, while the Underlying Index decreased 18.86%. The Fund had a net asset value of $22.82 per share on October 31, 2021 and ended the reporting period with a net asset value of $16.15 per share on October 31, 2022.

During the reporting period, the highest returns came from Constellation Energy Corporation and Vertex Pharmaceuticals Inc., which returned 91.35% and 68.71%, respectively. The worst performers were DocuSign, Inc. and Okta, Inc., which returned -82.64% and -77.30%, respectively.

The Fund invests in stocks on the Reference Index and “writes” or “sells” corresponding call options on the Reference Index. This strategy tends to produce higher yields in volatile and uncertain times when the Fund can collect higher option premiums. The Reference Index's performance suffered due to the negative performance of market-leading technology and tech-adjacent companies. High inflation, rate hikes implemented by central banks, and recessionary fears of investors gripped market sentiments during the reporting period, causing traditional equities to underperform, resulting in the Fund's negative returns. The Fund collected high option premiums when the market was volatile, but the rally by constituents of the Reference Index adversely affected ATM options writing and limited Fund performance. Due to its covered call strategy, the Fund loses profit potential if the Reference Index rises above the strike price of the index call option.

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* The Fund commenced operations on December 11, 2013.

** Hybrid Index performance reflects the performance of the CBOE NASDAQ-100^® BuyWrite Index through October 14, 2015 and CBOE NASDAQ-100^® BuyWrite V2 Index thereafter.

The Fund operated as the Horizons NASDAQ 100^® Covered Call ETF (the “Predecessor Fund”), a series of Horizons ETF Trust I, prior to the Fund’s acquisition of the assets and assumption of the liabilities of the Predecessor Fund on December 24, 2018 (See Note 1 in Notes to Financial Statements).

On October 14, 2015, Global X Management Company LLC (The “Advisor”) changed the Fund’s primary benchmark from the BXN Index to BXNT Index in connection with a change in the Fund’s principal strategies. The Advisor believes the BXNT Index is a better measure of the Fund’s performance. Returns reflect a blended benchmark.

The Nasdaq-100^® Index includes 100 of the largest domestic and international non-financial companies listed on The Nasdaq Stock Market based on market capitalization.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices on the previous page.

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Global X S&P 500® Covered Call ETF

The Global X S&P 500^® Covered Call ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the CBOE S&P 500^® BuyWrite Index (“Underlying Index”). The Fund is passively managed, and the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index is comprised of two parts: (1) all the equity securities in the S&P 500^® Index (the "Reference Index") in substantially similar weight as the Reference Index; and (2) short (written) call options on up to 100% of the Reference Index.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 10.72%, while the Index decreased 9.97%. The Fund had a net asset value of $50.37 per share on October 31, 2021 and ended the reporting period with a net asset value of $40 per share on October 31, 2022.

During the reporting period, the highest returns came from Occidental Petroleum Corporation and Devon Energy Corporation, which returned 117.95% and 108.22%, respectively. The worst performers were Generac Holdings Inc. and Match Group, Inc., which returned -76.75% and -71.35%, respectively.

The Fund invests in stocks listed on the Reference Index and “writes” or “sells” corresponding call options on the same index. The Reference Index generated negative returns during the reporting period as interest rates rose and global currencies experienced turmoil, which contributed to the Fund's negative returns. Investor concerns about the outlook for U.S. equities weighed on Fund performance. However, the Fund also collected higher option premiums in this environment, offsetting some of its equity losses. Because of the Fund's options-writing strategy, it forfeits potential profit when the Underlying Index rises above the strike price of the index call option.

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* The Fund commenced operations on June 21, 2013.

** Hybrid Index performance reflects the performance of the S&P 500^® Stock Covered Call Index through September 14, 2017, the CBOE S&P 500 2% OTM BuyWrite Index through August 20, 2020 and the CBOE S&P 500 BuyWrite Index thereafter.

The Fund operated as the Horizons S&P 500^® Covered Call ETF (the “Predecessor Fund”), a series of Horizons ETF Trust I, prior to the Fund’s acquisition of the assets and assumption of the liabilities of the Predecessor Fund on December 24, 2018 (See Note 1 in Notes to Financial Statements).

The S&P 500^® Index is a market capitalization weighted composite index of 500 large capitalization U.S. companies.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

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The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices on the previous page.

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Global X Russell 2000 Covered Call ETF

The Global X Russell 2000 Covered Call ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the CBOE Russell 2000 BuyWrite Index (“Underlying Index”).The Fund is passively managed and the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index measures the performance of a theoretical portfolio that holds a portfolio of the stocks included in the Russell 2000 Index (the "Reference Index"), and "writes" (or sells) a succession of one-month at-the-money covered call options on the Reference Index. The written covered call options on the Reference Index are held until expiration. The Reference Index is an equity benchmark which measures the performance of the small-capitalization sector of the U.S. equity market, as defined by FTSE Russell, the provider of the Reference Index.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 12.18%, while the Underlying Index decreased 11.63%. The Fund had a net asset value of $25.18 per share on October 31, 2021 and ended the reporting period with a net asset value of $19.55 per share on October 31, 2022.

During the reporting period, the highest returns came from Akero Therapeutics, Inc. and Amylyx Pharmaceuticals, Inc., which returned 277.32% and 227.55%, respectively. The worst performers were Tricida, Inc. and Starry Group Holdings, Inc. which returned -96.56% and -95.44%, respectively.

The Fund invests in the underlying holdings of the Russell 2000 Index and “writes” or “sells” corresponding call options on the same index. During the reporting period, the Russia-Ukraine conflict, soaring oil prices, raging inflation, rising interest rates, and widespread COVID-19 pandemic-related lockdown measures by China slowed global economic growth, negatively impacting equity markets. This led to negative Fund returns. However, high volatility in the small-cap space and the broader market allowed the Fund to collect higher option premiums during the reporting period, limiting the Fund's losses. Given the Fund’s options-writing strategy, it cedes potential profit when the Reference Index advances above the strike price of the index call option.

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* The Fund commenced operations on April 17, 2019.

The Russell 2000 Index is an index measuring the performance of approximately 2,000 smallest-cap American companies in the Russell 3000 Index, which is made up of 3,000 of the largest U.S. stocks. It is a market-cap weighted index.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. See definition of comparative indices above.

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Global X Dow 30^® Covered Call ETF

The Global X Dow 30^® Covered Call ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the DJIA CBOE BuyWrite v2 Index (“Underlying Index”). The Fund is passively managed, and the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index measures the performance of a covered call strategy that holds a theoretical portfolio of the underlying stocks of the Dow Jones Industrial Average^® (the “Reference Index”) and “writes” (or sells) a succession of one-month at-the-money (“ATM”) covered call options on the Reference Index. The Underlying Index specifically reflects the performance of the component securities of the Reference Index, combined with written (sold) ATM call options corresponding to the value of the portfolio of stocks in the Reference Index.

From the inception of the Fund to period ended October 31, 2022 (the “reporting period”), the Fund decreased 2.77%, while the Underlying Index decreased 1.98%. The Fund had a net asset value of $24.13 per share on February 23, 2022 and ended the reporting period with a net asset value of $21.89 per share on October 31, 2022.

During the reporting period, the highest returns came from Chevron Corporation and Amgen Inc., which returned 64.35% and 34.96%, respectively. The worst performers were Salesforce, Inc. and Nike, Inc., which returned -45.75% and -44.07%, respectively.

The Fund invests in the Reference Index and “writes” or “sells” corresponding call options on the same index. Since its inception, the Fund has generated negative returns as investor concerns over rising interest rates, a consumer-spending downturn, and continued inflation led to a decline in equity markets, resulting in losses for the majority of the Reference Index's holdings. However, by the end of the reporting period, developed markets began to recover, with the U.S. outperforming the rest of the world, and the majority of the Fund's holdings posting gains, which attracted investors. High volatility in the equity market also allowed the Fund to collect higher option premiums. Given the Fund’s options-writing strategy, it cedes potential profit when the Reference Index advances above the strike price of the Fund's corresponding index call option.

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* The Fund commenced operations on February 23, 2022.

The Dow Jones Industrial Average, Dow Jones, or simply the Dow, is a stock market index of 30 prominent companies listed on stock exchanges in the United States. The DJIA is one of the oldest and most commonly followed equity indexes.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices above.

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Global X Nasdaq 100® Covered Call & Growth ETF

The Global X NASDAQ 100^® Covered Call & Growth ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Cboe NASDAQ-100^® Half BuyWrite V2 Index (“Underlying Index”). The Fund is passively managed and the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index is a benchmark index that measures the performance of a theoretical portfolio that owns the portfolio of the stocks included in the NASDAQ-100^® Index (the "Reference Index"), and “writes” (or sells) corresponding call options on approximately 50% of the value of the portfolio of stocks in the Reference Index.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 23.57%, while the Underlying Index decreased 23.16%. The Fund had a net asset value of $33.09 per share on October 31, 2021 and ended the reporting period with a net asset value of $22.80 per share on October 31, 2022.

During the reporting period, the highest returns came from Constellation Energy Corporation and Vertex Pharmaceuticals Inc., which returned 91.35% and 68.71%, respectively. The worst performers were DocuSign, Inc. and Okta, Inc., which returned -82.64% and -77.30%, respectively.

The Fund follows a “covered call” or “buy-write” strategy, buying stocks on the Reference Index and “writing” or “selling” corresponding call options on approximately 50% of the value of the portfolio of stocks on the Reference Index. During the reporting period, the Fund performed slightly better than Nasdaq-100^® as technology focused and tech-adjacent companies dragged down the Reference Index. Furthermore, the Fund was heavily weighted in mega-cap technology stocks, which were negatively impacted by high-interest rates and rising fears of a global economic slowdown, resulting in negative returns for the Fund. However, when the market was volatile, the Fund collected higher levels of option premiums, offsetting some of the negative equity performance.

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* The Fund commenced operations on September 18, 2020.

The Nasdaq-100^® Index includes 100 of the largest domestic and international non-financial companies listed on The Nasdaq Stock Market based on market capitalization.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices on the previous page.

Global X S&P 500® Covered Call & Growth ETF

The Global X S&P 500^® Covered Call & Growth ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Cboe S&P 500^® Half BuyWrite Index (“Underlying Index”). The Fund is passively managed and the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index is a benchmark index that measures the performance of a theoretical portfolio that owns the portfolio of the stocks included in the S&P 500^® Index (the "Reference Index"), and “writes” (or sells) corresponding call options on approximately 50% of the value of the portfolio of stocks in the Reference Index.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 12.63%, while the Underlying Index decreased 12.20%. The Fund had a net asset value of $31.83 per share on October 31, 2021 and ended the reporting period with a net asset value of $25.47 per share on October 31, 2022.

During the reporting period, the highest returns came from Occidental Petroleum Corporation and Devon Energy Corporation, which returned 117.95% and 108.22%, respectively. The worst performers were Generac Holdings Inc. and Match Group, Inc., which returned -76.75% and -71.35%, respectively.

The Fund invests in stocks listed on the Reference Index and “writes” or “sells” corresponding call options on the same index. The Reference Index generated negative returns during the reporting period due to rising interest rates, and elevated market volatility gripped the global equity markets. This contributed to the Fund's negative performance. The Fund collected higher levels of option premiums when the market was volatile, offsetting some of the Fund’s equity losses. Given the Fund’s options-writing strategy, it cedes potential profit when the Reference Index advances above the strike price of the Fund's corresponding index call option.

* The Fund commenced operations on September 18, 2020.

The S&P 500^® Index is a market capitalization weighted composite index of 500 large capitalization U.S. companies.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices above.

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Global X Russell 2000 Covered Call & Growth ETF

The Global X Russell 2000 Covered Call & Growth ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the CBOE Russell 2000 Half BuyWrite Index (“Underlying Index”). The Fund is passively managed and the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index measures the performance of a covered call strategy that holds a theoretical portfolio of the underlying stocks of the Russell 2000 Index (the "Reference Index") and "writes" (or sells) a succession of one-month at-the-money covered call options on the Reference Index. The written covered call options on the Reference Index correspond to approximately 50% of the value of the portfolio of stocks in the Reference Index.

From the inception of the Fund to the period ended October 31, 2022 (the “reporting period”), the Fund increased 3.14%, while the Underlying Index increased 2.98%. The Fund had a net asset value of $25.90 per share on October 04, 2022 and ended the reporting period with a net asset value of $26.58 per share on October 31, 2022.

During the reporting period, the Vanguard Russell 2000 ETF, the only holding of the Fund, returned 4.19%.

The Fund invests in the underlying holdings of the Russell 2000 Index and “writes” or “sells” corresponding call options on the same index. During the reporting period, U.S. small cap stocks strongly rallied from a rebound in cyclical stocks, such as those within the Energy and Financials sectors, contributing to the Fund's positive performance. Since the Fund write covered calls on only half of its stock exposure, it was able to capture a portion of this upside from its Russell 2000 exposure via the Vanguard Russell 2000 ETF.

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* The Fund commenced operations on October 4, 2022.

The Russell 2000 Index is a U.S. small-cap stock market index of the bottom 2,000 stocks in the Russell 3000 Index. The index is maintained by FTSE Russell, a subsidiary of the London Stock Exchange Group.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices above.

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Global X SuperIncome™ Preferred ETF

The Global X SuperIncome Preferred ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P Enhanced Yield North American Preferred Stock Index (“Underlying Index”). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index tracks the performance of the highest yielding preferred securities in the United States and Canada, as determined by Standard & Poor's Financial Services, LLC, a subsidiary of the McGraw-Hill Companies ("S&P"), the provider of the Underlying Index ("Index Provider"). The Underlying Index is comprised of preferred stocks that meet certain criteria relating to size, liquidity, issuer concentration and rating, maturity and other requirements, as determined by the Index Provider. The Underlying Index does not seek to directly reflect the performance of the companies issuing the preferred stock. The index is maintained by S&P.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 13.81%, while the Underlying Index decreased 13.43%. The Fund had a net asset value of $11.94 per share on October 31, 2021 and ended the reporting period with a net asset value of $9.67 per share on October 31, 2022.

During the reporting period, the highest returns came from Citigroup Capital XIII and AGNC Investment Corp, which returned 7.27% and 6.40%, respectively. The worst performers were Qurate Retail Inc. and Clarivate PLC, which returned -51.04% and -46.08%, respectively.

The Fund invests in preferred stock, which has some of the highest dividend yields in the United States and Canada. During the reporting period, high and persistent inflation induced the U.S. Federal Reserve and other central banks to raise interest rates, resulting in the Fund's negative performance. Preferred stocks and the fixed-income market experienced a sell-off as interest rates rose, negatively impacting Fund performance. Fears about potential credit spread widening and default risk also affected performance of higher yielding preferred stocks. During the reporting period, the Fund had an approximate average sector exposure of 63.71% to Financials, 6.61% to Energy, and 5.22% to Health Care.

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* Fund commenced operations on July 16, 2012.

The S&P 500^® Index is a market capitalization weighted composite index of 500 large capitalization U.S. companies.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices on the previous page.

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Global X Renewable Energy Producers ETF

The Global X Renewable Energy Producers ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Indxx Renewable Energy Producers Index (“Underlying Index”). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index is designed to provide exposure to publicly traded companies that produce energy from renewable sources including wind, solar, hydroelectric, geothermal, and biofuels (including publicly traded companies that are formed to own operating assets that produce defined cash flows, as defined by Indxx LLC, the provider of the Underlying Index.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 21.57%, while the Underlying Index decreased 21.30%. The Fund had a net asset value of $16.82 per share on October 31, 2021 and ended the reporting period with a net asset value of $13.05 per share on October 31, 2022.

During the reporting period, the highest returns came from Centrais Eletricas Brasileiras SA and Terna Energy S.A., which returned 61.25% and 41.95%, respectively. The worst performers were Azure Power Global Ltd and Gevo, Inc, which returned -75.98% and -68.88%, respectively.

The Fund generated negative returns over the reporting period as companies within the power sector were impacted by higher costs throughout the renewable energy value chains, supply chain challenges, and rising inflation. In addition, regulatory uncertainty within the U.S. solar power sector and permitting delays across Europe and the U.S. impacted renewables capacity and generation growth during the reporting period. These impacts outweighed the benefits of higher power prices and continued strong demand for renewable energy amid global concerns over climate change, energy security, and high fossil fuel prices. The enactment of the Inflation Reduction Act in the U.S. and the introduction of the REPowerEU plan in the European Union were two policy developments during the reporting period that may act as continued tailwinds for renewable energy development. Continued momentum for the development of a global green hydrogen industry could also continue to expand growth opportunities in renewable energy. Sector weightings of the Fund were reported to be the highest in Utilities, at 92.34%. Geographically, the Fund maintained an average allocation of 18.60% to the United States stocks, followed by Brazil (9.48%) and New Zealand (9.46%).

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* Fund commenced operations on May 27, 2015.

**Hybrid index performance reflects the performance of the Indxx Global YieldCo Index through November 18, 2018 and the Indxx YieldCo & Renewable Energy Income Index thereafter. Effective February 1, 2021, the name of the Underlying Index changed from Indxx YieldCo & Renewable Energy Income Index to the Indxx Renewable Energy Producers Index.

The MSCI ACWI (Net) (All Country World Index) Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

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High short term performance of the fund is unusual and investors should not expect such performance to be repeated.

See definition of comparative indices on the previous page

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Global X S&P 500^® Catholic Values ETF

The Global X S&P 500^® Catholic Values ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P 500^® Catholic Values Index (“Underlying Index”). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index applies exclusion criteria to the constituents of the S&P 500^® Index in order to create a benchmark aligned with Catholic values. These values are consistent with the Socially Responsible Investment Guidelines outlined by the United States Conference of Catholic Bishops (“USCCB”). The index is designed for investors who wish to track a benchmark that is consistent with USCCB guidelines.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 16.53%, while the Underlying Index decreased 16.34%. The Fund had a net asset value of $57.22 per share on October 31, 2021 and ended the reporting period with a net asset value of $47.19 per share on October 31, 2022.

During the reporting period, the highest returns came from Occidental Petroleum Corporation and Devon Energy Corporation, which returned 117% and 108%, respectively. The worst performers were Generac Holdings Inc and Meta Platforms Inc, which returned -76% and -71%, respectively.

The Fund provides exposure to companies within the S&P 500^® Index whose business practices align with the investment guidelines set by the USCCB. As of October 31, 2022, the Fund had 441 equity holdings compared with the 503 holdings of the S&P 500^® Index. To mitigate the potential performance differences between the S&P 500^® Index and the Fund, the Fund’s sector exposures are reweighted to align with those of the S&P 500^® Index every quarter. In November 2021, the USCCB updated new socially responsible investing guidelines for Catholic investing for the first time since 2003. The revised USCCB guidelines add restrictions to previously excluded themes such as certain healthcare practices, adult entertainment, controversial weapons, gambling, tobacco, and recreational cannabis.

The Fund’s underperformance during the reporting period largely resulted from broader market challenges due to economic pressures from rising interest rates in the U.S, high inflation, and increased recessionary fears among investors. Information Technology was also the largest sector of the Fund, which detracted from performance as the sector experienced reduced profitability during the reporting period, resulting in cost-cutting, staff layoffs, and hiring freezes. During the reporting period, Information Technology had the highest average sector weighting of 27.83% in the Fund, followed by Health Care at 13.53% and Consumer Discretionary at 11.84%.

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* Fund commenced operations on April 18, 2016.

The S&P 500^® Index is a market capitalization weighted composite index of 500 large capitalization U.S. companies.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

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The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices on the previous page.

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Global X S&P Catholic Values Developed ex-US ETF

The Global X S&P Catholic Values Developed ex-U.S. ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P Developed Ex-U.S. Catholic Values Index (“Underlying Index”). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index is based on the S&P EPAC ex-Korea Large Cap Index (the "Reference Index"), a benchmark index that provides exposure to the large capitalization segment of developed markets within the Europe and Asia Pacific regions, excluding Korea. The Underlying Index excludes from the Reference Index certain activities that are not aligned with the Responsible Investment Guidelines of the U.S. Conference of Catholic Bishops (“USCCB”). The Underlying Index is designed for investors who do not want to breach religious norms in their passive investing strategies.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 26.11%, while the Underlying Index decreased 25.98%. The Fund had a net asset value of $32.80 per share on October 31, 2021 and ended the reporting period with a net asset value of $23.30 per share on October 31, 2022.

During the reporting period, the highest returns came from Equinor ASA and Bezeq Group, which returned 49.83% and 45.33%, respectively. The worst performers were Sea Ltd and Kornit Digital Ltd, which returned -85.48% and -83.97%, respectively.

The Fund provides exposure to companies in developed markets outside of the U.S., whose business practices align with the investment guidelines set by the USCCB. To mitigate the potential performance differences between the Fund and traditional International equity benchmarks, the Fund’s sector exposures are reweighted to align with those of the S&P EPAC ex-Korea Large Cap Index on a quarterly basis. In November 2021, the USCCB updated new socially responsible investing guidelines for Catholic investing for the first time since 2003. The revised USCCB guidelines add restrictions to previously excluded themes such as certain healthcare practices, adult entertainment, controversial weapons, gambling, tobacco, and recreational cannabis.

The Fund’s underperformance during the reporting period resulted from multiple global challenges including the Russia-Ukraine War, European energy crisis, rising inflation, and stringent COVID-19 pandemic-related reopening policies in certain regions. The global equity market selloff also put pressure on broader markets.

During the reporting period, Financials had the highest average weighting of 17.85% in the Fund, followed by Industrials at 14.63% and Health Care at 13.79%. Geographically, the Fund had an approximate average exposure of 27.61% to Japan, followed by the United Kingdom (11.83%) and Australia (10.91%).

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* Fund commenced operations on June 22, 2020.

The MSCI EAFE Index (Net) (Europe, Australasia, Far East) is a free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the US & Canada.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices on the previous page.

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Global X Guru^® Index ETF

The Global X Guru^® Index ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Guru Index (“Underlying Index”). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index is comprised of the top U.S. listed equity positions reported on Form 13F by a select group of entities characterized as hedge funds by Solactive AG, the provider of the Underlying Index ("Index Provider"). Hedge funds are selected from a pool of thousands of privately offered pooled investment vehicles based on the size of their reported equity holdings and the efficacy of replicating their publicly disclosed positions. Additional filters are applied to eliminate hedge funds that have high turnover rates for equity holdings. Only hedge funds with concentrated top holdings are included in the selection process. Once the hedge fund pool has been determined, the Index Provider utilizes 13F filings to compile the top stock holding from each of these hedge funds. The stocks are screened for liquidity and equal weighted.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 33.28%, while the Underlying Index decreased 33.05%. The Fund had a net asset value of $50.24 per share on October 31, 2021 and ended the reporting period with a net asset value of $33.48 per share on October 31, 2022.

During the reporting period, the highest returns came from Texas Pacific Land Corporation and Chesapeake Energy Corporation, which returned 84.38% and 60.26%, respectively. The worst performers were GDS Holdings Ltd and Unity Software, Inc, which returned -85.47% and -80.5%, respectively.

The Fund’s investments are among the highest-conviction U.S.-listed equity positions reported on Form 13F by major hedge funds. During the reporting period, the Fund delivered negative performance and trailed the S&P 500^® Index. Quarterly rebalancing results in dynamic exposures, which can change significantly through the year. The Fund's performance was impacted by its exposure to the Technology sector and Consumer Discretionary sector, which were affected by rising interest rates, increasing the cost of capital. The Fund’s underperformance relative to the S&P 500^® Index was primarily the result of limited exposure in the Energy sector which fared well in the reporting period.

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* The Fund commenced operations on June 4, 2012.

The S&P 500^® Index is a market capitalization weighted composite index of 500 large capitalization U.S. companies.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices on the previous page.

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Global X S&P 500® Tail Risk ETF

The Global X S&P 500^® Tail Risk ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Cboe S&P 500^® Tail Risk Index (“Underlying Index”). The Fund is passively managed, and the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index measures the performance of a risk management strategy that holds the underlying stocks of the S&P 500^® Index and applies a protective put strategy (i.e. long (purchased) put options) on the S&P 500^® Index. The Underlying Index specifically reflects the performance of the component securities of the S&P 500^® Index, combined with a long position in 10% out-of-the-money (“OTM”) put options that correspond to the value of the portfolio of stocks in the S&P 500^® Index.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 13.98%, while the Underlying Index decreased 13.36%. The Fund had a net asset value of $27.72 per share on October 31, 2021 and ended the reporting period with a net asset value of $23.21 per share on October 31, 2022.

During the reporting period, the highest returns came from Occidental Petroleum Corporation and Devon Energy Corporation, which returned 117.95% and 108.22%, respectively. The worst performers were Generac Holdings Inc. and Match Group, Inc, which returned -76.75% and -71.35%, respectively.

The Fund invests in the stocks in the S&P 500^® Index, while buying OTM put options on the S&P 500^® Index. While the strategy provides uncapped growth potential, it offers a measure of downside risk, mitigating significant selloffs of greater than approximately -10% between the purchase of the put option and its expiration in three months. During the reporting period, the Fund performed better than the S&P 500^® Index, which experienced severe downward market conditions, due to its put option hedging strategy. Furthermore, growth stocks in both the Technology and Communication Services Sectors underperformed due to rising interest rates, contributing to the Fund’s negative returns.

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* The Fund commenced operations on August 25, 2021.

The S&P 500^® Index is a market capitalization weighted composite index of 500 large capitalization U.S. companies.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices above.

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Global X S&P 500® Risk Managed Income ETF

The Global X S&P 500^® Risk Managed Income ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Cboe S&P 500 Risk Managed Income Index (“Underlying Index”). The Fund is passively managed and the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index measures the performance of a risk managed income strategy that holds the underlying stocks of the S&P 500^® Index (the "Reference Index") and applies an options collar strategy which is a mix of short (sold) call options and long (purchased) put options on the Reference Index. The Underlying Index specifically reflects the performance of the component securities of the Reference Index, combined with a long position in the 5% out-of-the-money (“OTM”) put options and a short position in at-the-money (“ATM”) call options, each corresponding to the value of the portfolio of stocks in the Reference Index. The options collar seeks to generate a net-credit, meaning that the premium received from the sale of the call options will be greater than the premium paid when buying the put options.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 12.39%, while the Underlying Index decreased 12.21%. The Fund had a net asset value of $26.83 per share on October 31, 2021 and ended the reporting period with a net asset value of $21.05 per share on October 31, 2022.

During the reporting period, the highest returns came from Occidental Petroleum Corporation and Devon Energy Corporation, which returned 117.95% and 108.22%, respectively. The worst performers were Generac Holdings Inc. and Match Group, Inc., which returned -76.75% and -71.35%, respectively.

The Fund’s options collar strategy tends to produce higher yields in volatile and uncertain times, allowing the Fund to collect higher option premiums and mitigate risks arising from a major market selloff through the purchase of protective puts. During the reporting period, rising 10-year treasury yields pressured growth stocks, weighing on the Reference Index. This resulted in the Fund's negative performance. However, the Fund's losses were mitigated because of volatility in equities markets; as volatility increases, option premiums become more expensive, resulting in a greater net credit from options premiums when selling the ATM call option and buying the OTM put option.

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* The Fund commenced operations on August 25, 2021.

The S&P 500^® Index is a market capitalization weighted composite index of 500 large capitalization U.S. companies.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices on the previous page.

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Global X S&P 500® Collar 95-110 ETF

The Global X S&P 500^® Collar 95-110 ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Cboe S&P 500^® 3-Month Collar 95-110 Index (“Underlying Index”). The Fund is passively managed and the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index measures the performance of a risk management strategy that holds the underlying stocks of the S&P 500^® Index (the "Reference Index") and applies an options collar strategy with a mix of short (sold) call options and long (purchased) put options on Reference Index. The Underlying Index specifically reflects the performance of the component securities of the Reference Index, combined with a long position in 5% out-of-the-money (“OTM”) put options and a short position in 10% OTM call options, each corresponding to the value of the portfolio of stocks in the Reference Index.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 9.40%, while the Underlying Index decreased 9.05%. The Fund had a net asset value of $27.57 per share on October 31, 2021 and ended the reporting period with a net asset value of $24.47 per share on October 31, 2022.

During the reporting period, the highest returns came from Occidental Petroleum Corporation and Devon Energy Corporation, which returned 117.95% and 108.22%, respectively. The worst performers were Generac Holdings Inc. and Match Group, Inc., which returned -76.75% and -71.35%, respectively.

The Fund invests in the stocks in the Reference Index, while applying a net-debit options collar strategy, meaning the cost of the purchased put option is expected to exceed the premiums received from selling the call option. The strategy is intended to invest in a diverse basket of U.S. equities while capping potential gains at 10% over the three-month option period and limiting losses to 5% over the same period. The goal of this strategy is to strike a balance between limiting the downside and retaining upside potential while keeping the strategy affordable. During the reporting period, rising inflation, interest rate increases by the U.S. Federal Reserve and fears of a recession led investors to shift away from equities in favor of other asset classes, contributing to the Fund's negative returns.

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* The Fund commenced operations on August 25, 2021.

The S&P 500^® Index is a market capitalization weighted composite index of 500 large capitalization U.S. companies.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices above.

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Global X NASDAQ 100^® Tail Risk ETF

The Global X Nasdaq 100^® Tail Risk ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Nasdaq-100 Quarterly Protective Put 90 Index (“Underlying Index”). The Fund is passively managed and the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index measures the performance of a risk management strategy that holds the underlying stocks of the NASDAQ 100^® Index (the "Reference Index") and applies a protective put strategy with long (purchased) put options on the Reference Index. The Underlying Index specifically reflects the performance of the component securities of the Reference Index, combined with a long position in 10% out-of-the-money (“OTM”) put options that correspond to the value of the portfolio of stocks in the Reference Index.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 23.90%, while the Underlying Index decreased 23.07%. The Fund had a net asset value of $25.59 per share on October 31, 2021 and ended the reporting period with a net asset value of $19.08 per share on October 31, 2022.

During the reporting period, the highest returns came from Constellation Energy Corporation and Vertex Pharmaceuticals Inc., which returned 91.35% and 68.71%, respectively. The worst performers were DocuSign, Inc. and Okta, Inc., which returned -82.64% and -77.3%, respectively.

The Fund invests in the stocks in the Reference Index, while buying OTM put options on the same index. While the strategy provides uncapped growth potential, it offers a measure of downside risk, mitigating significant selloffs of greater than approximately -10% between the purchase of the put option and its expiration in three months. Tail risk strategies can mitigate potential downside risks while helping investors participate in rising markets. During the reporting period, the Fund performed better than the Reference Index as market-leading technology and tech-adjacent companies dragged down Reference Index in severe macroeconomic conditions. Nonetheless, the Fund suffered negative returns during the reporting period, as the technology-centric companies of the Reference Index generally suffered increased losses against the rest of the market due to rising interest rates and investor fears of a global economic slowdown.

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* The Fund commenced operations on August 25, 2021.

The Nasdaq-100^® Index includes 100 of the largest domestic and international non-financial companies listed on The Nasdaq Stock Market based on market capitalization.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices above.

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Global X NASDAQ 100^® Risk Managed Income ETF

The Global X Nasdaq 100^® Risk Managed Income ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Nasdaq-100^® Monthly Net Credit Collar 95-100 Index (“Underlying Index”). The Fund is passively managed and the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index measures the performance of a risk managed income strategy that holds the underlying stocks of the NASDAQ 100^® Index (the "Reference Index") and applies an options collar strategy consisting of a mix of short (sold) call options and long (purchased) put options on the Reference Index. The Underlying Index specifically reflects the performance of the component securities of the Reference Index, combined with a long position in the 5% out-of-the-money (“OTM”) put options and a short position in at-the-money (“ATM”) call options, each corresponding to the value of the portfolio of stocks in the Reference Index. The options collar seeks to generate a net-credit, meaning that the premium received from the sale of the call options will be greater than the premium paid when buying the put options.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 17.24%, while the Underlying Index decreased 17.12%. The Fund had a net asset value of $24.12 per share on October 31, 2021 and ended the reporting period with a net asset value of $18.17 per share on October 31, 2022.

During the reporting period, the highest returns came from Constellation Energy Corporation and Vertex Pharmaceuticals Inc., which returned 91.35% and 68.71%, respectively. The worst performers were DocuSign, Inc. and Okta, Inc., which returned -82.64% and -77.30%, respectively.

The Fund's options collar strategy seeks to generate higher yields in volatile and uncertain times by collecting option premiums and mitigating risks associated with a major market selloff through the purchase of protective puts. As volatility rises, option premiums rise in price, resulting in a higher net credit when selling ATM call options and buying OTM put options. During the reporting period, the Fund generated negative returns as rising bond yields affected technology and growth stocks, to which the Reference Index is heavily exposed. However, the net positive premiums generated by the Fund helped offset some of the losses.

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* The Fund commenced operations on August 25, 2021.

The Nasdaq-100^® Index includes 100 of the largest domestic and international non-financial companies listed on The Nasdaq Stock Market based on market capitalization.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices on the previous page.

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Global X NASDAQ 100^® Collar 95-110 ETF

The Global X Nasdaq 100^® Collar 95-110 ETF (“Fund”) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Nasdaq-100^® Quarterly Collar 95-110 Index (“Underlying Index”). The Fund is passively managed and the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Underlying Index.

The Underlying Index measures the performance of a risk management strategy that holds the underlying stocks of the NASDAQ 100^® Index (the "Underlying Index") and applies an options collar strategy with a mix of short (sold) call options and long (purchased) put options on the Reference Index. The Underlying Index specifically reflects the performance of the component securities of the Reference Index, combined with a long position in 5% out-of-the-money (“OTM”) put options and a short position in 10% OTM call options, each corresponding to the value of the portfolio of stocks in the Reference Index.

For the 12-month period ended October 31, 2022 (the “reporting period”), the Fund decreased 13.19%, while the Underlying Index decreased 12.05%. The Fund had a net asset value of $25.78 per share on October 31, 2021 and ended the reporting period with a net asset value of $22.00 per share on October 31, 2022.

During the reporting period, the highest returns came from Constellation Energy Corporation and Vertex Pharmaceuticals Inc., which returned 91.35% and 68.71%, respectively. The worst performers were DocuSign, Inc. and Okta, Inc., which returned -82.64% and -77.3%, respectively.

The Fund invests in stocks in the Reference Index using a net-debit options collar strategy, which means that the cost of the purchased put option is expected to exceed the premiums received from selling the call option. Furthermore, the strategy is intended to invest in a tech-heavy basket of US equities, with a 10% upside cap and a 5% downside limit over a three-month option horizon. The goal of this strategy is to strike a balance between limiting downside risk and retaining upside potential. During the reporting period, high inflation, rate hikes by the U.S. Federal Reserve, and a strong U.S. dollar made it more difficult for tech companies to grow sales as digital advertising and other revenue streams slowed. In turn, technology stocks suffered, contributing to the Fund's negative returns.

* The Fund commenced operations on August 25, 2021.

The Nasdaq-100^® Index includes 100 of the largest domestic and international non-financial companies listed on The Nasdaq Stock Market based on market capitalization.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index. Performance figures for the periods shown may reflect contractual fee waivers and/or expense reimbursements. In the absence of fee waiver sand/or expense reimbursements (if applicable), returns would have been lower.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.

See definition of comparative indices above.

Schedule of Investments	October 31, 2022
Global X Social Media ETF

 

		Shares				Value
COMMON STOCK — 99.8%
CHINA — 28.5%
Communication Services — 28.5%
Baidu ADR *			59,721			$	4,572,837
Bilibili ADR *			216,191				1,928,424
Hello Group ADR *			100,414				471,946
HUYA ADR *			21,127				39,507
JOYY ADR .			20,582				519,284
Kuaishou Technology, Cl B *			862,288				3,548,081
Meitu *			2,666,600				230,996
NetEase ADR .			85,476				4,754,175
Tencent Holdings .			406,827				10,655,443
Tencent Music Entertainment Group ADR *			422,360				1,524,720
Weibo ADR *			101,760				1,151,923
TOTAL CHINA							29,397,336
GERMANY — 1.1%
Communication Services — 1.1%
United Internet			64,056				1,198,134
JAPAN — 8.2%
Communication Services — 8.2%
DeNA			55,289				722,010
giftee *			13,050				199,743
Gree			35,508				199,954
Kakaku.com			91,314				1,548,778
Mixi			27,064				424,619

64

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Schedule of Investments	October 31, 2022
Global X Social Media ETF

 

 

		Shares				Value
COMMON STOCK — continued
Communication Services — continued
Nexon .			319,812			$	5,372,695
TOTAL JAPAN							8,467,799
SOUTH KOREA — 13.7%
Communication Services — 13.7%
AfreecaTV			5,661				316,344
Com2uSCorp			5,763				287,654
Kakao .			180,634				6,429,249
NAVER			59,626				7,095,094
TOTAL SOUTH KOREA							14,128,341
TAIWAN — 0.1%
Consumer Discretionary — 0.1%
PChome Online .			69,544				108,344
UNITED ARAB EMIRATES — 0.2%
Communication Services — 0.2%
Yalla Group ADR * (A)			66,738				206,220
UNITED STATES — 48.0%
Communication Services — 44.1%
Alphabet, Cl A *			60,861				5,751,973
Angi, Cl A *			53,670				115,391
Bumble, Cl A *			58,401				1,483,385
IAC *			56,281				2,739,759
Match Group *			119,061				5,143,435
Meta Platforms, Cl A *			95,583				8,904,512
Nextdoor Holdings *			73,677				199,665
Pinterest, Cl A *			242,970				5,977,062
Snap, Cl A *			744,368				7,376,687
Spotify Technology *			70,159				5,653,412
Vimeo *			101,202				384,568
Yelp, Cl A *			46,797				1,797,473
							45,527,322
Consumer Discretionary — 1.2%
Fiverr International *			22,169				686,130
Groupon, Cl A * (A)			11,989				88,359

 

The accompanying notes are an integral part of the financial statements.

65

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Schedule of Investments	October 31, 2022
Global X Social Media ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Discretionary — continued
Poshmark, Cl A *			30,593			$	546,391
							1,320,880
Information Technology — 2.7%
Life360, Cl CDI *			78,334				346,128
Sprinklr, Cl A *			51,009				471,833
Sprout Social, Cl A *			32,539				1,963,078
							2,781,039
TOTAL UNITED STATES							49,629,241
TOTAL COMMON STOCK
(Cost $249,752,951)							103,135,415
SHORT-TERM INVESTMENT(B)(C) — 0.4%
Fidelity Investments Money Market
Government Portfolio, Cl Institutional,
2.910%
(Cost $369,077)			369,077				369,077
			Face Amount
REPURCHASE AGREEMENT(B) — 0.5%
BNP Paribas
2.930%, dated 10/31/2022, to be repurchased
on 11/01/2022, repurchase price $512,839
(collateralized by U.S. Treasury Obligations,
ranging in par value $10,193 - $59,922,
2.500% - 2.750%, 03/31/2027 - 05/31/2029,
with a total market value of $522,429)
(Cost $512,797)		$	512,797				512,797
TOTAL INVESTMENTS — 100.7%
(Cost $250,634,825)						$	104,017,289

 

Percentages are based on Net Assets of $103,245,446.

* Non-income producing security.

(A) This security or a partial position of this security is on loan at October 31, 2022. 

(B) Security was purchased with cash collateral held from securities on loan.

(C) The rate reported on the Schedule of Investments is the 7-day effective yield as of October 31, 2022.

 

The accompanying notes are an integral part of the financial statements.

66

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Schedule of Investments	October 31, 2022
Global X Social Media ETF

 

The following is a summary of the level of inputs used as of October 31, 2022, in valuing the Fund's investments carried at value:

Investments in Securities		Level 1				Level 2				Level 3				Total
Common Stock		$	103,135,415			$	—			$	—			$	103,135,415
Short-Term Investment			369,077				—				—				369,077
Repurchase Agreement			—				512,797				—				512,797
Total Investments in Securities		$	103,504,492			$	512,797			$	—			$	104,017,289

 

Amounts designated as “—“ are $0 or have been rounded to $0.

See "Glossary" for abbreviations.

The accompanying notes are an integral part of the financial statements.

67

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Schedule of Investments		October 31, 2022
	Global X Lithium & Battery Tech ETF

 

		Shares				Value
COMMON STOCK — 99.9%
AUSTRALIA — 11.6%
Materials — 11.6%
Allkem *			7,773,018			$	71,773,570
Core Lithium *			21,501,734				19,042,806
IGO			9,755,577				95,382,375
Liontown Resources *			22,351,938				26,942,272
Mineral Resources .			2,168,671				101,413,770
Pilbara Minerals *			38,177,848				124,261,591
Sayona Mining *			82,846,213				12,449,394
TOTAL AUSTRALIA							451,265,778
BRAZIL — 0.6%
Materials — 0.6%
Sigma Lithium *			683,706				24,435,652
CANADA — 0.9%
Materials — 0.9%
Lithium Americas * (A)			1,345,981				33,450,941
Standard Lithium * (A)			15,767				63,112
TOTAL CANADA							33,514,053

 

The accompanying notes are an integral part of the financial statements.

68

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Schedule of Investments		October 31, 2022
Global X Lithium & Battery Tech ETF

 

		Shares				Value
COMMON STOCK — continued
CHILE — 4.5%
Materials — 4.5%
Sociedad Quimica y Minera de Chile ADR			1,887,967			$	176,864,748
CHINA — 33.9%
Consumer Discretionary — 4.3%
BYD, Cl H .			7,384,674				165,288,155
Industrials — 12.0%
Beijing Easpring Material Technology, Cl A			3,864,948				31,103,707
Contemporary Amperex Technology, Cl A .			3,044,905				154,893,409
Eve Energy, Cl A			14,288,668				161,871,051
Sunwoda Electronic, Cl A			14,200,991				45,140,324
Wuxi Lead Intelligent Equipment, Cl A .			10,993,897				75,126,438
							468,134,929
Information Technology — 2.8%
NAURA Technology Group, Cl A .			3,011,041				109,143,612
Materials — 14.8%
Ganfeng Lithium, Cl A .			13,804,840				148,819,042
Guangzhou Tinci Materials Technology, Cl A ..			13,726,078				79,583,950
Shanghai Putailai New Energy Technology,
Cl A			7,378,056				50,236,528
Shenzhen Capchem Technology, Cl A			4,204,190				20,745,359
Tianqi Lithium, Cl A *			12,726,641				165,895,492
Yunnan Energy New Material, Cl A			5,604,759				113,194,707
							578,475,078
TOTAL CHINA							1,321,041,774
JAPAN — 9.6%
Consumer Discretionary — 4.8%
Panasonic Holdings			25,959,229				185,915,829
Industrials — 0.8%
GS Yuasa			978,966				14,931,314
Japan Steel Works .			857,833				17,747,075
							32,678,389

 

The accompanying notes are an integral part of the financial statements.

69

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Schedule of Investments		October 31, 2022
Global X Lithium & Battery Tech ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — 4.0%
TDK			4,995,185			$	156,440,853
TOTAL JAPAN							375,035,071
NORWAY — 0.5%
Industrials — 0.5%
FREYR Battery * (A)			1,299,651				17,298,355
SOUTH KOREA — 9.8%
Industrials — 2.8%
LG Energy Solution *			297,438				110,251,160
Information Technology — 7.0%
L&F * (A)			302,161				47,728,053
Samsung SDI			430,909				222,949,161
							270,677,214
TOTAL SOUTH KOREA							380,928,374
TAIWAN — 0.4%
Information Technology — 0.4%
Simplo Technology .			2,166,980				17,249,759
UNITED STATES — 28.1%
Consumer Discretionary — 13.5%
Lucid Group *			7,450,410				106,466,359
QuantumScape, Cl A * (A)			2,943,704				24,521,054
Rivian Automotive, Cl A *			5,915,616				206,869,092
Tesla *			827,892				188,378,546
							526,235,051
Industrials — 1.6%
EnerSys			525,719				34,849,912
Enovix *			1,507,978				28,455,545
							63,305,457
Materials — 13.0%
Albemarle			1,546,002				432,679,580

 

The accompanying notes are an integral part of the financial statements.

70

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Schedule of Investments		October 31, 2022
Global X Lithium & Battery Tech ETF

 

		Shares				Value
COMMON STOCK — continued
Materials — continued
Livent *			2,347,645			$	74,115,152
							506,794,732
TOTAL UNITED STATES							1,096,335,240
TOTAL COMMON STOCK
(Cost $3,569,341,406)							3,893,968,804
SHORT-TERM INVESTMENT(B)(C) — 1.3%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 2.910%
(Cost $52,417,598)			52,417,598				52,417,598
		Face Amount
REPURCHASE AGREEMENT(B) — 1.9%
BNP Paribas 2.930%, dated 10/31/2022, to be repurchased on 11/01/2022, repurchase price $72,835,231 (collateralized by U.S. Treasury Obligations, ranging in par value $1,447,585 - $8,510,349, 2.500% - 2.750%, 03/31/2027 - 05/31/2029, with a total market value of $74,197,322) (Cost $72,829,304)		$	72,829,304				72,829,304
TOTAL INVESTMENTS — 103.1%
(Cost $3,694,588,308)						$	4,019,215,706

Percentages are based on Net Assets of $3,899,509,347.

*	Non-income producing security.
(A)	This security or a partial position of this security is on loan at October 31, 2022.
(B)	Security was purchased with cash collateral held from securities on loan.
(C)	The rate reported on the Schedule of Investments is the 7-day effective yield as of October 31, 2022.

 

The accompanying notes are an integral part of the financial statements.

71

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Schedule of Investments		October 31, 2022
Global X Lithium & Battery Tech ETF

The following is a summary of the level of inputs used as of October 31, 2022, in valuing the Fund’s investments carried at value:

Investments in Securities		Level 1				Level 2				Level 3				Total
Common Stock		$	3,893,968,804			$	—			$	—			$	3,893,968,804
Short-Term Investment			52,417,598				—				—				52,417,598
Repurchase Agreement			—				72,829,304				—				72,829,304
Total Investments in Securities		$	3,946,386,402			$	72,829,304			$	—			$	4,019,215,706

 

 

Amounts designated as “—“ are $0 or have been rounded to $0.

See "Glossary" for abbreviations.

The accompanying notes are an integral part of the financial statements.

72

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Schedule of Investments		October 31, 2022
Global X Disruptive Materials ETF

 

		Shares				Value
COMMON STOCK — 99.8%
AUSTRALIA — 12.1%
Materials — 12.1%
Allkem *			14,130			$	130,472
IGO			14,284				139,658
Lynas Rare Earths *			22,726				121,053
Syrah Resources *			15,731				24,041
TOTAL AUSTRALIA							415,224
CANADA — 2.5%
Materials — 2.5%
HudBay Minerals			5,632				21,346
Lithium Americas *			2,632				65,412
TOTAL CANADA							86,758
CHILE — 6.0%
Materials — 6.0%
Antofagasta .			8,670				117,340
Lundin Mining			16,641				87,106
TOTAL CHILE							204,446
CHINA — 27.1%
Industrials — 5.0%