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%
Eve Energy, Cl A			11,100				125,748
Fangda Carbon New Material, Cl A *			56,800				46,571
							172,319
Materials — 22.1%
China Nonferrous Mining			28,100				10,202

 

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

73

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

 

		Shares				Value
COMMON STOCK — continued
Materials — continued
China Northern Rare Earth Group High-Tech,
Cl A			34,100			$	112,580
China Rare Earth Resources and Technology,
Cl A *			11,800				46,427
Ganfeng Lithium, Cl H			10,142				68,605
MMG *			69,100				13,644
Nanjing Hanrui Cobalt, Cl A			5,000				27,414
Shenghe Resources Holding, Cl A			36,400				66,343
Sinofibers Technology, Cl A			6,300				47,469
South Manganese Investment *			99,900				6,045
Tongling Nonferrous Metals Group, Cl A .			267,500				91,963
Weihai Guangwei Composites, Cl A			7,100				75,164
Western Mining, Cl A			42,400				54,778
Yunnan Tin, Cl A			23,900				37,203
Zhejiang Huayou Cobalt, Cl A .			13,630				101,303
							759,140
TOTAL CHINA							931,459
FINLAND — 0.3%
Materials — 0.3%
Jervois Global *			33,005				10,342
FRANCE — 0.4%
Materials — 0.4%
Eramet .			203				13,312
GERMANY — 0.3%
Industrials — 0.3%
SGL Carbon *			1,708				12,129
INDONESIA — 1.1%
Materials — 1.1%
Nickel Mines .			33,421				15,601
Vale Indonesia *			51,300				21,378
TOTAL INDONESIA							36,979

 

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

74

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

 

		Shares				Value
COMMON STOCK — continued
JAPAN — 5.2%
Industrials — 0.3%
Nippon Carbon .			411			$	11,655
Materials — 4.9%
Nippon Denko .			4,191				9,587
Sumitomo Metal Mining			4,518				127,119
Tokai Carbon .			4,635				30,279
							166,985
TOTAL JAPAN							178,640
NETHERLANDS — 0.7%
Materials — 0.7%
AMG Advanced Metallurgical Group			786				24,595
PERU — 3.0%
Materials — 3.0%
Southern Copper .			2,159				101,408
SOUTH AFRICA — 15.7%
Materials — 15.7%
African Rainbow Minerals			2,678				37,692
Anglo American			4,716				141,635
Anglo American Platinum .			1,439				114,409
Impala Platinum Holdings .			15,177				155,342
Northam Platinum Holdings *			7,831				73,454
Royal Bafokeng Platinum			1,976				15,878
TOTAL SOUTH AFRICA							538,410
SWEDEN — 4.0%
Materials — 4.0%
Boliden .			4,744				138,064
TAIWAN — 0.2%
Information Technology — 0.2%
Acme Electronics *			11,200				8,047

 

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

75

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

 

		Shares				Value
COMMON STOCK — continued
UNITED STATES — 16.7%
Industrials — 0.7%
GrafTech International			4,850			$	24,686
Materials — 16.0%
Albemarle			509				142,454
Freeport-McMoRan .			5,146				163,077
Livent *			4,490				141,749
MP Materials *			3,396				102,016
							549,296
TOTAL UNITED STATES							573,982
ZAMBIA — 4.5%
Materials — 4.5%
First Quantum Minerals			8,724				153,688
TOTAL COMMON STOCK
(Cost $4,672,494)							3,427,483
TOTAL INVESTMENTS — 99.8%
(Cost $4,672,494)						$	3,427,483

 

Percentages are based on Net Assets of $3,433,164.

* Non-income producing security.

As of October 31, 2022, all of the Fund's investments were considered Level 1, in accordance with authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

See "Glossary" for abbreviations.

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

76

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Schedule of Investments		October 31, 2022
Global X E-commerce ETF

 

		Shares				Value
COMMON STOCK — 99.9%
AUSTRALIA — 0.6%
Consumer Discretionary — 0.6%
Temple & Webster Group *			76,235			$	272,992
BRAZIL — 6.5%
Communication Services — 0.5%
VTEX, Cl A * (A)			47,366				197,990
Consumer Discretionary — 6.0%
MercadoLibre *			2,832				2,553,388
TOTAL BRAZIL							2,751,378
CANADA — 4.7%
Information Technology — 4.7%
Shopify, Cl A *			57,587				1,971,203
CHINA — 20.0%
Communication Services — 2.7%
NetEase ADR .			20,680				1,150,221

 

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

77

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Schedule of Investments		October 31, 2022
Global X E-commerce ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Discretionary — 17.0%
Alibaba Group Holding ADR *			17,046			$	1,083,785
Baozun ADR *			40,078				157,907
JD.com ADR *			30,137				1,123,809
Pinduoduo ADR *			33,007				1,809,774
Trip.com Group ADR *			71,227				1,611,867
Uxin ADR *			23,773				97,945
Vipshop Holdings ADR *			185,178				1,290,691
							7,175,778
Financials — 0.3%
LexinFintech Holdings ADR *			84,794				115,320
TOTAL CHINA							8,441,319
GERMANY — 0.7%
Consumer Discretionary — 0.7%
Jumia Technologies ADR * (A)			63,347				314,201
JAPAN — 4.3%
Consumer Discretionary — 4.3%
Rakuten Group *			402,898				1,805,295
SINGAPORE — 3.1%
Communication Services — 3.1%
Sea ADR *			26,013				1,292,326
UNITED KINGDOM — 3.4%
Consumer Discretionary — 1.0%
ASOS *			63,619				412,749
Consumer Staples — 2.4%
Ocado Group *			191,359				1,040,792
TOTAL UNITED KINGDOM							1,453,541
UNITED STATES — 56.6%
Communication Services — 7.5%
Angi, Cl A *			50,853				109,334
Shutterstock			23,094				1,155,393

 

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

78

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Schedule of Investments		October 31, 2022
Global X E-commerce ETF

 

		Shares				Value
COMMON STOCK — continued
Communication Services — continued
TripAdvisor *			80,864			$	1,910,008
							3,174,735
Consumer Discretionary — 34.6%
1stdibs.com *			23,983				162,365
Amazon.com *			16,790				1,719,968
Booking Holdings *			1,061				1,983,518
eBay			43,559				1,735,390
Etsy *			22,256				2,090,061
Expedia Group *			19,892				1,859,305
Groupon, Cl A * (A)			18,897				139,271
Lands' End *			21,185				222,019
Overstock.com *			29,831				693,571
PetMed Express .			13,300				283,556
Qurate Retail, Cl A *			237,745				556,323
Wayfair, Cl A * (A)			36,848				1,397,276
Williams-Sonoma .			14,225				1,761,482
							14,604,105
Financials — 0.6%
eHealth *			17,043				45,676
LendingTree *			8,114				204,716
							250,392
Industrials — 6.1%
CoStar Group *			31,242				2,584,338
Information Technology — 7.8%
BigCommerce Holdings *			46,272				687,602
GoDaddy, Cl A *			25,924				2,084,290
LivePerson *			47,392				500,933
							3,272,825
TOTAL UNITED STATES							23,886,395
TOTAL COMMON STOCK
(Cost $104,853,364)							42,188,650

 

 

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

79

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Schedule of Investments		October 31, 2022
Global X E-commerce ETF

 

		Shares				Value
SHORT-TERM INVESTMENT(B)(C) — 0.7%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 2.910% (Cost $304,001)			304,001			$	304,001
		Face Amount
REPURCHASE AGREEMENT(B) — 1.0%
BNP Paribas 2.930%, dated 10/31/2022, to be repurchased on 11/01/2022, repurchase price $422,414 (collateralized by U.S. Treasury Obligations, ranging in par value $8,395 - $49,357, 2.500% - 2.750%, 03/31/2027 - 05/31/2029, with a total market value of $430,317) (Cost $422,380)		$	422,380				422,380
TOTAL INVESTMENTS — 101.6%
(Cost $105,579,745)						$	42,915,031

Percentages are based on Net Assets of $42,240,518.

*	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 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		$	42,188,650			$	—			$	—			$	42,188,650
Short-Term Investment			304,001				—				—				304,001
Repurchase Agreement			—				422,380				—				422,380
Total Investments in Securities		$	42,492,651			$	422,380			$	—			$	42,915,031

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.

80

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Schedule of Investments	October 31, 2022
Global X Emerging Markets Internet & E-commerce ETF

 

		Shares				Value
COMMON STOCK — 99.9%
BRAZIL — 18.2%
Consumer Discretionary — 6.7%
Magazine Luiza *			22,849			$	19,464
MercadoLibre *			125				112,703
							132,167
Financials — 8.5%
NU Holdings, Cl A *			21,787				108,935
XP, Cl A *			3,114				57,079
							166,014
Information Technology — 3.0%
Pagseguro Digital, Cl A *			1,423				19,467
StoneCo, Cl A *			1,959				20,569
TOTVS .			2,997				18,940
							58,976
TOTAL BRAZIL							357,157
CHILE — 0.6%
Consumer Discretionary — 0.6%
Falabella			6,562				12,826

 

 

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

81

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Schedule of Investments	October 31, 2022
Global X Emerging Markets Internet & E-commerce ETF

 

		Shares				Value
COMMON STOCK — continued
CHINA — 58.5%
Communication Services — 18.7%
Autohome ADR .			798			$	20,844
Baidu ADR *			741				56,738
Bilibili ADR *			2,422				21,604
China Literature *			2,940				7,921
iQIYI ADR *			2,545				5,141
Kingsoft			6,250				18,910
NetEase ADR .			1,206				67,078
Tencent Holdings .			5,080				133,053
Tencent Music Entertainment Group ADR *			5,051				18,234
Weibo ADR *			1,617				18,305
							367,828
Consumer Discretionary — 36.9%
Alibaba Group Holding ADR *			2,238				142,292
Alibaba Health Information Technology *			34,800				14,718
JD.com ADR *			3,363				125,406
Meituan, Cl B *			8,830				140,383
Pinduoduo ADR *			2,995				164,216
Ping An Healthcare and Technology *			3,330				6,143
Tongcheng Travel Holdings *			7,050				10,993
Trip.com Group ADR *			4,151				93,937
Vipshop Holdings ADR *			3,995				27,845
							725,933
Information Technology — 2.9%
Kingdee International Software Group *			17,250				28,216
TravelSky Technology, Cl H .			19,850				28,827
							57,043
TOTAL CHINA							1,150,804
INDIA — 0.8%
Consumer Services — 0.8%
MakeMyTrip *			535				14,889
POLAND — 0.7%
Consumer Discretionary — 0.7%
Allegro.eu *			2,917				14,184

 

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

82

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Schedule of Investments	October 31, 2022
Global X Emerging Markets Internet & E-commerce ETF

 

		Shares				Value
COMMON STOCK — continued
SOUTH AFRICA — 4.4%
Communication Services — 0.5%
MultiChoice Group .			1,494			$	9,758
Consumer Discretionary — 3.9%
Naspers, Cl N .			750				77,544
TOTAL SOUTH AFRICA							87,302
SOUTH KOREA — 15.4%
Communication Services — 9.8%
Kakao .			1,945				69,228
Krafton *			224				27,912
NAVER			595				70,801
NCSoft			92				25,189
							193,130
Consumer Discretionary — 5.6%
Coupang, Cl A *			6,317				109,095
TOTAL SOUTH KOREA							302,225
URUGUAY — 1.3%
Information Technology — 1.3%
Dlocal, Cl A *			1,121				24,998
TOTAL COMMON STOCK
(Cost $4,353,604)							1,964,385
		Face Amount
U.S. TREASURY OBLIGATION — 9.4%
U.S. Treasury Bill
2.201%, 11/01/22(A)
(Cost $185,000)		$	185,000				185,000
TOTAL INVESTMENTS — 109.3%
(Cost $4,538,604)						$	2,149,385

 

Percentages are based on Net Assets of $1,966,169.

* Non-income producing security.

(A) Interest rate represents the security's effective yield at the time of purchase.

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

83

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Schedule of Investments	October 31, 2022
Global X Emerging Markets Internet & E-commerce 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		$	1,951,559			$	12,826			$	—			$	1,964,385
U.S. Treasury Obligation			—				185,000				—				185,000
Total Investments in Securities		$	1,951,559			$	197,826			$	—			$	2,149,385

 

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.

84

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Schedule of Investments		October 31, 2022
Global X SuperDividend® ETF

 

		Shares				Value
COMMON STOCK — 93.7%
AUSTRALIA — 4.7%
Consumer Discretionary — 0.7%
Harvey Norman Holdings			1,710,090			$	4,549,043
Energy — 0.1%
Woodside Energy Group			22,238				511,640
Financials — 2.3%
Magellan Financial Group (A)			1,207,628				7,668,141
Platinum Asset Management			7,233,686				8,279,810
							15,947,951
Materials — 1.6%
BHP Group			144,858				3,460,645
Rio Tinto .			62,247				3,510,708
Rio Tinto ADR (A)			69,869				3,727,511
							10,698,864
TOTAL AUSTRALIA							31,707,498

 

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

85

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Schedule of Investments		October 31, 2022
Global X SuperDividend® ETF

 

		Shares				Value
COMMON STOCK — continued
BELGIUM — 1.1%
Consumer Services — 1.1%
Telenet Group Holding .			469,844			$	7,165,215
BRAZIL — 10.1%
Consumer Staples — 0.9%
Marfrig Global Foods			3,153,226				6,429,943
Financials — 1.3%
Banco Santander Brasil .			1,524,306				8,650,976
Health Care — 0.9%
Qualicorp Consultoria e Corretora de Seguros .			4,355,561				6,540,916
Materials — 2.2%
Dexco .			4,413,168				8,149,716
Vale ADR, Cl B .			511,726				6,621,734
							14,771,450
Utilities — 4.8%
CPFL Energia .			1,780,441				12,018,337
EDP - Energias do Brasil .			1,252,514				5,506,789
Energisa .			594,974				5,498,173
Transmissora Alianca de Energia Eletrica .			1,207,264				9,246,737
							32,270,036
TOTAL BRAZIL							68,663,321
CANADA — 0.9%
Materials — 0.9%
Labrador Iron Ore Royalty			307,790				6,372,193
CHILE — 1.6%
Utilities — 1.6%
Colbun .			108,850,165				10,692,242
CHINA — 13.3%
Energy — 1.8%
China Petroleum & Chemical, Cl H			10,637,600				4,200,916

 

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

86

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Schedule of Investments		October 31, 2022
Global X SuperDividend® ETF

 

		Shares				Value
COMMON STOCK — continued
Energy — continued
China Shenhua Energy, Cl H			2,990,300			$	7,866,354
							12,067,270
Financials — 2.4%
China Everbright Bank, Cl H .			28,483,800				7,366,015
Chongqing Rural Commercial Bank, Cl H .			28,350,600				8,595,633
							15,961,648
Industrials — 2.2%
Lonking Holdings .			44,998,000				6,190,926
Sinopec Engineering Group, Cl H .			24,068,500				8,615,768
							14,806,694
Materials — 0.4%
China Hongqiao Group			4,056,400				2,878,290
Real Estate — 6.0%
China Aoyuan Group *(B)			45,196,900				2,038,218
China Overseas Grand Oceans Group			19,082,900				5,396,796
China SCE Group Holdings			67,492,200				3,482,148
Country Garden Holdings (A)			22,887,600				2,944,830
Gemdale Properties & Investment			79,934,400				4,378,656
Midea Real Estate Holding (A)			7,622,700				5,321,426
Powerlong Real Estate Holdings (A)			26,648,000				2,172,617
Shenzhen Investment			52,377,600				7,139,503
Yuexiu Property .			8,646,860				7,380,264
							40,254,458
Utilities — 0.5%
Huadian Power International, Cl H			12,330,000				3,706,924
TOTAL CHINA							89,675,284
EGYPT — 1.0%
Consumer Staples — 1.0%
Eastern SAE .			13,831,322				6,809,707
GREECE — 0.6%
Industrials — 0.6%
Star Bulk Carriers (A)			223,474				3,892,917

 

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

87

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Schedule of Investments		October 31, 2022
Global X SuperDividend® ETF

 

		Shares				Value
COMMON STOCK — continued
HONG KONG — 4.7%
Communication Services — 2.1%
HKBN			10,445,900			$	7,052,781
PCCW			18,639,800				7,123,626
							14,176,407
Consumer Discretionary — 1.1%
Pacific Textiles Holdings			23,659,500				7,052,776
Industrials — 0.5%
Orient Overseas International			245,000				3,579,877
Information Technology — 1.0%
VTech Holdings			1,267,900				6,743,419
TOTAL HONG KONG							31,552,479
ISRAEL — 1.4%
Consumer Discretionary — 1.4%
Delek Automotive Systems			730,875				9,454,962
ITALY — 1.1%
Financials — 1.1%
BFF Bank			1,038,460				7,328,205
KAZAKHSTAN — 0.0%
Financials — 0.0%
Halyk Savings Bank of Kazakhstan JSC GDR .			2,392				24,159
KUWAIT — 1.3%
Consumer Discretionary — 1.3%
Humansoft Holding KSC			803,164				8,717,473
MALAYSIA — 0.7%
Health Care — 0.7%
Hartalega Holdings .			10,586,907				4,836,658

 

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

88

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Schedule of Investments		October 31, 2022
Global X SuperDividend® ETF

 

		Shares				Value
COMMON STOCK — continued
NETHERLANDS — 1.1%
Financials — 0.7%
Van Lanschot Kempen			209,066			$	4,514,862
Industrials — 0.4%
PostNL (A)			1,739,835				2,728,944
TOTAL NETHERLANDS							7,243,806
NORWAY — 2.2%
Energy — 0.9%
FLEX LNG .			185,371				5,792,844
Industrials — 1.3%
Golden Ocean Group			1,076,929				8,970,818
TOTAL NORWAY							14,763,662
PAKISTAN — 1.0%
Financials — 1.0%
United Bank .			13,898,293				6,757,582
RUSSIA — 0.0%
Materials — 0.0%
Magnitogorsk Iron & Steel Works PJSC (B)#			6,332,020				63,618
PhosAgro PJSC GDR (B)#			122				83
Severstal PJSC (B)#			312,897				80,329
							144,030
Utilities — 0.0%
Unipro PJSC (B) ‡			209,143,887				95,318
TOTAL RUSSIA							239,348
SINGAPORE — 3.5%
Energy — 1.9%
BW LPG .			1,603,029				12,966,883
Health Care — 0.8%
Riverstone Holdings			14,840,434				5,663,087

 

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

89

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Schedule of Investments		October 31, 2022
Global X SuperDividend® ETF

 

		Shares				Value
COMMON STOCK — continued
Real Estate — 0.8%
Manulife US Real Estate Investment Trust ‡			13,913,732			$	5,078,512
TOTAL SINGAPORE							23,708,482
SOUTH AFRICA — 4.1%
Energy — 1.1%
Exxaro Resources .			658,589				7,329,322
Financials — 1.1%
Coronation Fund Managers			4,294,458				7,669,385
Materials — 0.6%
African Rainbow Minerals			285,209				4,014,265
Real Estate — 1.3%
Redefine Properties ‡			41,030,645				9,109,239
TOTAL SOUTH AFRICA							28,122,211
THAILAND — 0.8%
Industrials — 0.8%
Regional Container Lines NVDR (A)			7,565,858				5,267,873
TURKEY — 0.9%
Materials — 0.9%
Iskenderun Demir ve Celik .			4,479,025				6,130,011
UKRAINE — 0.7%
Materials — 0.7%
Ferrexpo			4,026,555				4,733,306
UNITED KINGDOM — 4.8%
Consumer Discretionary — 0.5%
Persimmon .			218,666				3,285,466
Consumer Staples — 1.8%
Imperial Brands .			504,611				12,340,035
Financials — 2.5%
Direct Line Insurance Group			2,863,831				6,653,861

 

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

90

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Schedule of Investments		October 31, 2022
Global X SuperDividend® ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
Jupiter Fund Management .			2,635,067			$	3,149,156
M&G .			3,662,484				7,387,798
							17,190,815
TOTAL UNITED KINGDOM							32,816,316
UNITED STATES — 32.1%
Communication Services — 1.3%
Lumen Technologies .			1,132,976				8,338,703
Consumer Staples — 0.6%
JBS .			810,434				3,855,054
Energy — 3.7%
Antero Midstream .			931,678				9,922,370
Diversified Energy			7,227,892				10,468,814
Kimbell Royalty Partners			249,574				4,751,889
							25,143,073
Financials — 21.0%
AGNC Investment ‡			813,156				6,684,142
Annaly Capital Management ‡			343,384				6,369,773
Apollo Commercial Real Estate Finance ‡			843,531				9,498,159
Arbor Realty Trust ‡			628,669				8,656,772
ARMOUR Residential ‡ (A)			1,210,092				6,437,690
Blackstone Mortgage Trust, Cl A ‡			321,894				8,034,474
Broadmark Realty Capital ‡			780,268				4,541,160
Chimera Investment ‡			897,880				6,060,690
Dynex Capital ‡			320,119				3,822,221
Ellington Financial ‡ (A)			562,195				7,522,169
Granite Point Mortgage Trust ‡			496,881				3,905,485
Invesco Mortgage Capital ‡ (A)			548,423				6,422,033
KKR Real Estate Finance Trust ‡			511,534				8,910,922
MFA Financial ‡			389,448				3,878,902
New York Mortgage Trust ‡			2,827,551				7,606,112
PennyMac Mortgage Investment Trust ‡			607,488				8,425,859
Ready Capital ‡			709,646				8,600,910
Redwood Trust ‡			615,878				4,391,210
Rithm Capital ‡			781,076				6,584,471
Starwood Property Trust ‡			446,705				9,228,925

 

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

91

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Schedule of Investments		October 31, 2022
Global X SuperDividend® ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
Two Harbors Investment ‡			1,850,009			$	6,586,032
							142,168,111
Real Estate — 5.5%
Global Net Lease ‡			706,520				8,654,870
Necessity Retail REIT ‡			1,472,899				10,074,629
Office Properties Income Trust ‡			451,591				6,909,343
Omega Healthcare Investors ‡			370,458				11,773,155
							37,411,997
TOTAL UNITED STATES							216,916,938
TOTAL COMMON STOCK
(Cost $867,308,506)							633,591,848
PREFERRED STOCK — 5.9%
BRAZIL— 5.9%
Energy — 1.5%
Petroleo Brasileiro (C)			1,792,049				10,180,757
Materials — 2.9%
Gerdau (C)			1,814,604				8,904,865
Unipar Carbocloro (C)			510,672				10,392,999
							19,297,864
Utilities — 1.5%
Cia Paranaense de Energia (C)			7,258,330				10,236,151
TOTAL BRAZIL							39,714,772
TOTAL PREFERRED STOCK
(Cost $40,599,246)							39,714,772
SHORT-TERM INVESTMENT(D)(E) — 1.7%
Fidelity Investments Money Market
Government Portfolio, Cl Institutional,
2.910%
(Cost $11,772,151)			11,772,151				11,772,151

 

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

92

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Schedule of Investments		October 31, 2022
Global X SuperDividend® ETF

 

		Face Amount				Value
REPURCHASE AGREEMENT(D) — 2.4%
BNP Paribas
2.930%, dated 10/31/2022, to be repurchased
on 11/01/2022, repurchase price $16,357,623
(collateralized by U.S. Treasury Obligations,
ranging in par value $325,104 - $1,911,288,
2.500% - 2.750%, 03/31/2027 - 05/31/2029,
with a total market value of $16,663,529)
(Cost $16,356,292)		$	16,356,292			$	16,356,292
TOTAL INVESTMENTS — 103.7%
(Cost $936,036,195)						$	701,435,063

 

Percentages are based on Net Assets of $676,278,536.

* Non-income producing security.

‡ Real Estate Investment Trust

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

(B) Level 3 security in accordance with fair value hierarchy.

(C) There is currently no stated interest rate.

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

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

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(1)#				Total
Common Stock		$	620,622,040			$	10,692,242			$	2,277,566			$	633,591,848
Preferred Stock			39,714,772				—				—				39,714,772
Short-Term Investment			11,772,151				—				—				11,772,151
Repurchase Agreement			—				16,356,292				—				16,356,292
Total Investments in Securities		$	672,108,963			$	27,048,534			$	2,277,566			$	701,435,063

(1) A reconciliation of Level 3 investments and disclosures of significant unobservable inputs are presented when the Fund has a significant amount of Level 3 investments at the end of the period in relation to Net Assets. Management has concluded that Level 3 investments are not material in relation to Net Assets.

 

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

93

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Schedule of Investments		October 31, 2022
Global X SuperDividend® ETF

 

# For the period ended October 31, 2022, there were no significant changes into/out of Level 3. The transfer into Level 3 investments for the Fund were immaterial, although the unrealized appreciation/(depreciation) on these investments was $ (21,208,277). These securities were impacted by the invasion of Ukraine and sanctions on market conditions in Russia. From the start of the conflict in Ukraine until October 31, 2022, Russian-held investments were valued at were valued at discount from their last traded prices.

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.

94

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Schedule of Investments		October 31, 2022
Global X SuperDividend® U.S. ETF

 

		Shares				Value
COMMON STOCK — 84.7%
UNITED STATES — 84.7%
Communication Services — 4.9%
Cogent Communications Holdings .			230,299			$	12,093,000
Lumen Technologies .			1,515,197				11,151,850
Verizon Communications			276,556				10,334,898
							33,579,748
Consumer Discretionary — 1.7%
PetMed Express .			558,267				11,902,252
Consumer Staples — 16.2%
Altria Group .			288,569				13,352,088
B&G Foods .			474,702				7,775,619
Kellogg			228,693				17,568,196
Kraft Heinz			392,311				15,092,204
Philip Morris International			132,443				12,164,890
SpartanNash .			540,034				19,284,614
Universal			271,841				13,757,873
Walgreens Boots Alliance			316,580				11,555,170
							110,550,654

 

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

95

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Schedule of Investments		October 31, 2022
Global X SuperDividend® U.S. ETF

 

		Shares				Value
COMMON STOCK — continued
Energy — 10.5%
Enviva			210,954			$	12,623,487
Kimbell Royalty Partners			993,314				18,912,699
Kinder Morgan			815,015				14,768,072
Sabine Royalty Trust .			303,180				25,448,929
							71,753,187
Financials — 11.9%
AGNC Investment ‡			1,096,459				9,012,893
ARMOUR Residential ‡ (A)			1,732,367				9,216,192
Invesco Mortgage Capital ‡ (A)			609,167				7,133,346
KKR Real Estate Finance Trust ‡			704,503				12,272,442
New York Community Bancorp (A)			1,277,604				11,894,493
TFS Financial .			873,877				12,277,972
Two Harbors Investment ‡			2,848,926				10,142,177
Virtu Financial, Cl A .			422,902				9,464,547
							81,414,062
Health Care — 4.9%
AbbVie			102,274				14,972,913
Gilead Sciences			241,934				18,982,142
							33,955,055
Industrials — 6.7%
3M			99,708				12,542,269
Ennis			782,933				17,662,969
MSC Industrial Direct, Cl A			186,441				15,470,874
							45,676,112
Information Technology — 2.4%
International Business Machines .			118,635				16,406,034
Real Estate — 8.1%
Alexander's ‡			57,010				13,391,079
Easterly Government Properties, Cl A ‡			705,766				12,273,271
Global Net Lease ‡			1,020,674				12,503,257
Iron Mountain ‡			340,319				17,039,772
							55,207,379
Utilities — 17.4%
American Electric Power			173,432				15,248,142

 

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

96

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Schedule of Investments		October 31, 2022
Global X SuperDividend® U.S. ETF

 

		Shares				Value
COMMON STOCK — continued
Utilities — continued
Avangrid .			335,858			$	13,662,704
Clearway Energy, Cl C .			460,891				16,011,353
Consolidated Edison			182,042				16,012,414
DTE Energy .			125,049				14,019,244
Duke Energy			150,152				13,991,163
Hawaiian Electric Industries .			367,656				13,985,634
National Fuel Gas .			243,113				16,407,696
							119,338,350
TOTAL UNITED STATES							579,782,833
TOTAL COMMON STOCK
(Cost $588,371,147)							579,782,833
MASTER LIMITED PARTNERSHIPS — 14.9%
UNITED KINGDOM— 2.1%
Energy — 2.1%
KNOT Offshore Partners			993,126				14,440,052
UNITED STATES— 12.8%
Energy — 8.8%
CrossAmerica Partners .			702,259				13,708,096
Holly Energy Partners .			820,490				15,458,032
MPLX			454,794				15,253,791
USA Compression Partners			873,261				15,797,291
							60,217,210
Industrials — 2.2%
Icahn Enterprises			268,144				14,624,574
Materials — 1.8%
Westlake Chemical Partners			541,376				12,494,958
TOTAL UNITED STATES							87,336,742
TOTAL MASTER LIMITED PARTNERSHIPS
(Cost $78,659,537)							101,776,794
SHORT-TERM INVESTMENT(B)(C) — 1.2%
Fidelity Investments Money Market
Government Portfolio, Cl Institutional,
2.910%
(Cost $8,140,625)			8,140,625				8,140,625

 

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

97

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Schedule of Investments		October 31, 2022
Global X SuperDividend® U.S. ETF

		Face Amount				Value
REPURCHASE AGREEMENT(B) — 1.7%
BNP Paribas 2.930%, dated 10/31/2022, to be repurchased on 11/01/2022, repurchase price $11,311,551 (collateralized by U.S. Treasury Obligations, ranging in par value $224,815 - $1,321,685, 2.500% - 2.750%, 03/31/2027 - 05/31/2029, with a total market value of $11,523,087) (Cost $11,310,630)		$	11,310,630			$	11,310,630
TOTAL INVESTMENTS — 102.5%
(Cost $686,481,939)						$	701,010,882

Percentages are based on Net Assets of $683,864,308.

‡	Real Estate Investment Trust
(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 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		$	579,782,833			$	—			$	—			$	579,782,833
Master Limited Partnerships			101,776,794				—				—				101,776,794
Short-Term Investment			8,140,625				—				—				8,140,625
Repurchase Agreement			—				11,310,630				—				11,310,630
Total Investments in Securities		$	689,700,252			$	11,310,630			$	—			$	701,010,882

 

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.

98

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Schedule of Investments		October 31, 2022
Global X MSCI SuperDividend® EAFE ETF

 

		Shares				Value
COMMON STOCK — 99.6%
AUSTRALIA — 12.8%
Energy — 0.7%
Woodside Energy Group			2,435			$	56,023
Industrials — 2.0%
Aurizon Holdings			74,176				171,704
Materials — 7.7%
BHP Group			7,400				176,786
Fortescue Metals Group			15,562				146,282
Rio Tinto .			3,189				166,582
Rio Tinto .			2,828				159,498
							649,148
Real Estate — 2.4%
Vicinity Centres ‡			159,450				198,313
TOTAL AUSTRALIA							1,075,188
AUSTRIA — 2.3%
Energy — 2.3%
OMV			4,104				189,180

 

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

99

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Schedule of Investments		October 31, 2022
Global X MSCI SuperDividend® EAFE ETF

 

		Shares				Value
COMMON STOCK — continued
BELGIUM — 1.9%
Consumer Discretionary — 1.9%
Ageas			4,595			$	159,087
CHILE — 1.5%
Materials — 1.5%
Antofagasta .			9,185				124,310
DENMARK — 1.8%
Industrials — 1.8%
AP Moller - Maersk, Cl A .			77				154,152
FINLAND — 2.0%
Utilities — 2.0%
Fortum .			11,651				164,035
FRANCE — 6.7%
Communication Services — 2.0%
Orange .			17,429				165,903
Financials — 4.7%
AXA .			8,732				215,756
Credit Agricole .			19,386				176,005
							391,761
TOTAL FRANCE							557,664
GERMANY — 5.6%
Communication Services — 1.8%
Telefonica Deutschland Holding .			69,394				151,299
Materials — 3.8%
BASF			4,116				184,832
Covestro			3,880				132,070
							316,902
TOTAL GERMANY							468,201

 

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

100

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Schedule of Investments		October 31, 2022
Global X MSCI SuperDividend® EAFE ETF

 

		Shares				Value
COMMON STOCK — continued
HONG KONG — 7.1%
Communication Services — 2.1%
HKT Trust & HKT			153,320			$	173,245
Real Estate — 1.5%
Henderson Land Development			52,700				129,034
Utilities — 3.5%
CK Infrastructure Holdings			31,000				147,302
Power Assets Holdings			31,306				149,753
							297,055
TOTAL HONG KONG							599,334
ITALY — 6.1%
Financials — 4.2%
Assicurazioni Generali .			11,107				166,749
Poste Italiane .			21,095				183,890
							350,639
Utilities — 1.9%
Snam			36,719				163,383
TOTAL ITALY							514,022
JAPAN — 11.8%
Communication Services — 2.2%
SoftBank .			18,384				181,261
Financials — 2.3%
Japan Post Holdings .			28,659				192,738
Industrials — 3.8%
Mitsui OSK Lines			8,292				164,629
Nippon Yusen .			8,480				153,985
							318,614
Materials — 1.2%
JFE Holdings			11,228				102,962

 

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

101

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Schedule of Investments		October 31, 2022
Global X MSCI SuperDividend® EAFE ETF

 

		Shares				Value
COMMON STOCK — continued
Real Estate — 2.3%
Japan Metropolitan Fund Invest ‡			261			$	192,280
TOTAL JAPAN							987,855
NETHERLANDS — 2.2%
Financials — 2.2%
NN Group .			4,349				184,183
NEW ZEALAND — 2.5%
Communication Services — 2.5%
Spark New Zealand			69,989				208,180
NORWAY — 1.8%
Communication Services — 1.8%
Telenor			16,499				149,964
PORTUGAL — 2.2%
Utilities — 2.2%
Energias de Portugal			43,101				188,499
SPAIN — 4.4%
Industrials — 2.6%
ACS Actividades de Construccion y Servicios .			8,529				218,749
Utilities — 1.8%
Enagas .			9,385				152,352
TOTAL SPAIN							371,101
SWEDEN — 3.7%
Communication Services — 1.6%
Tele2, Cl B .			16,227				132,924
Consumer Discretionary — 2.1%
Electrolux, Cl B .			14,177				174,812
TOTAL SWEDEN							307,736

 

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

102

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Schedule of Investments		October 31, 2022
Global X MSCI SuperDividend® EAFE ETF

 

		Shares				Value
COMMON STOCK — continued
SWITZERLAND — 2.4%
Financials — 2.4%
Zurich Insurance Group			477			$	203,669
UNITED KINGDOM — 18.5%
Communication Services — 2.0%
Vodafone Group			144,015				168,530
Consumer Discretionary — 1.5%
Persimmon .			8,157				122,559
Consumer Staples — 2.4%
British American Tobacco			4,971				196,511
Financials — 10.8%
Admiral Group			7,945				184,504
Aviva .			41,724				200,850
Legal & General Group .			69,154				185,435
M&G .			82,628				166,673
Phoenix Group Holdings .			27,479				171,603
							909,065
Utilities — 1.8%
National Grid			14,115				154,127
TOTAL UNITED KINGDOM							1,550,792
UNITED STATES — 2.3%
Financials — 2.3%
Swiss Re			2,618				194,633
TOTAL COMMON STOCK
(Cost $10,795,210)							8,351,785
TOTAL INVESTMENTS — 99.6%
(Cost $10,795,210)						$	8,351,785

 

Percentages are based on Net Assets of $8,383,568.

‡ Real Estate Investment Trust

 

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

103

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Schedule of Investments		October 31, 2022
Global X MSCI SuperDividend® EAFE ETF

 

As of October 31, 2022, all of the Fund's investments were considered Level 1, in accordance with authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

See "Glossary" for abbreviations.

 

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

104

---

Schedule of Investments	October 31, 2022
Global X MSCI SuperDividend® Emerging Markets ETF

 

		Shares				Value
COMMON STOCK — 93.2%
BRAZIL — 7.7%
Financials — 2.2%
Banco Santander Brasil .			153,405			$	870,628
Materials — 3.7%
Cia Siderurgica Nacional			265,471				621,275
Vale			63,371				810,728
							1,432,003
Utilities — 1.8%
CPFL Energia .			107,564				726,079
TOTAL BRAZIL							3,028,710
CHILE — 4.1%
Industrials — 1.4%
Cia Sud Americana de Vapores .			7,968,605				553,015
Materials — 2.7%
Empresas CMPC			669,625				1,062,103
TOTAL CHILE							1,615,118

 

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

105

---

Schedule of Investments	October 31, 2022
Global X MSCI SuperDividend® Emerging Markets ETF

 

		Shares				Value
COMMON STOCK — continued
CHINA — 27.6%
Consumer Discretionary — 3.6%
Gree Electric Appliances of Zhuhai, Cl A			210,600			$	823,713
Zhejiang Semir Garment, Cl A .			977,300				597,305
							1,421,018
Energy — 8.3%
China Petroleum & Chemical, Cl H			2,053,200				810,833
China Shenhua Energy, Cl H			319,864				841,442
Jizhong Energy Resources, Cl A			725,700				601,937
Yankuang Energy Group, Cl H			357,700				1,007,047
							3,261,259
Financials — 5.8%
Bank of China, Cl H			2,658,300				856,768
Bank of Communications, Cl H .			1,548,780				755,661
China CITIC Bank Corp Ltd., Cl H .			1,771,700				668,068
							2,280,497
Information Technology — 1.7%
Kingboard Holdings			260,500				642,468
Materials — 6.1%
China Hongqiao Group			761,600				540,407
Luxi Chemical Group, Cl A .			362,436				561,694
Maanshan Iron & Steel, Cl A .			1,680,700				577,804
Shanxi Taigang Stainless Steel, Cl A .			1,270,500				688,106
							2,368,011
Real Estate — 2.1%
Shanghai Lujiazui Finance & Trade Zone
Development, Cl B .			1,110,200				823,769
TOTAL CHINA							10,797,022
EGYPT — 2.2%
Consumer Staples — 2.2%
Eastern SAE .			1,713,858				843,800

 

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

106

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Schedule of Investments	October 31, 2022
Global X MSCI SuperDividend® Emerging Markets ETF

 

		Shares				Value
COMMON STOCK — continued
INDIA — 7.8%
Energy — 5.6%
Bharat Petroleum .			242,200			$	888,454
Coal India			436,785				1,297,784
							2,186,238
Materials — 2.2%
Vedanta .			260,547				883,834
TOTAL INDIA							3,070,072
MALAYSIA — 4.9%
Health Care — 2.5%
Hartalega Holdings .			1,055,681				482,291
Top Glove			3,087,399				519,137
							1,001,428
Industrials — 2.4%
Sime Darby .			1,949,056				927,533
TOTAL MALAYSIA							1,928,961
RUSSIA — 0.1%
Materials — 0.1%
Alrosa PJSC (A)‡			1,194,381				—
Novolipetsk Steel PJSC (A)‡			500,486				16,720
PhosAgro PJSC GDR (A)‡			42				29
Severstal PJSC (A)‡			71,665				18,398
TOTAL RUSSIA							35,147
SOUTH AFRICA — 10.7%
Energy — 2.4%
Exxaro Resources .			82,309				916,003
Materials — 8.3%
African Rainbow Minerals			67,590				951,317
Impala Platinum Holdings .			85,999				880,229
Kumba Iron Ore			33,016				621,587
Sibanye Stillwater .			340,880				800,008
							3,253,141
TOTAL SOUTH AFRICA							4,169,144

 

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

107

---

Schedule of Investments	October 31, 2022
Global X MSCI SuperDividend® Emerging Markets ETF

 

		Shares				Value
COMMON STOCK — continued
SOUTH KOREA — 8.2%
Energy — 2.4%
HD Hyundai .			21,472			$	918,000
Financials — 5.8%
Korea Investment Holdings			19,350				673,097
NH Investment & Securities .			129,447				815,149
Samsung Securities .			35,425				789,598
							2,277,844
TOTAL SOUTH KOREA							3,195,844
TAIWAN — 14.2%
Industrials — 1.0%
Evergreen Marine Taiwan			91,920				392,241
Information Technology — 7.8%
Asustek Computer			85,300				624,744
Compal Electronics			1,329,200				870,389
Lite-On Technology ADR			479,810				952,994
Novatek Microelectronics			83,400				623,769
							3,071,896
Materials — 5.4%
Asia Cement			690,500				799,307
China Steel .			771,600				642,950
Nan Ya Plastics .			313,400				664,294
							2,106,551
TOTAL TAIWAN							5,570,688
TURKEY — 5.7%
Consumer Staples — 3.6%
BIM Birlesik Magazalar .			197,260				1,420,899
Materials — 2.1%
Eregli Demir ve Celik Fabrikalari .			506,542				808,707
TOTAL TURKEY							2,229,606
TOTAL COMMON STOCK
(Cost $49,351,568)							36,484,112

 

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

108

---

Schedule of Investments	October 31, 2022
Global X MSCI SuperDividend® Emerging Markets ETF

 

		Shares				Value
PREFERRED STOCK — 6.8%
BRAZIL— 6.7%
Materials — 4.2%
Braskem (B)			117,875			$	757,266
Gerdau (B)			187,079				918,059
							1,675,325
Utilities — 2.5%
Cia Energetica de Minas Gerais (B)			451,235				977,758
TOTAL BRAZIL							2,653,083
RUSSIA— 0.1%
Energy — 0.1%
Surgutneftegas PJSC (A),(B)			3,166,303				26,331
TOTAL RUSSIA							26,331
TOTAL PREFERRED STOCK
(Cost $4,527,287)							2,679,414
TOTAL INVESTMENTS — 100.0%
(Cost $53,878,855)						$	39,163,526

 

Percentages are based on Net Assets of $39,168,134.

(A) Level 3 security in accordance with fair value hierarchy.

(B) There is currently no stated interest rate.

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(1)‡				Total
Common Stock		$	34,833,847			$	1,615,118			$	35,147			$	36,484,112
Preferred Stock			2,653,083				—				26,331				2,679,414
Total Investments in Securities		$	37,486,930			$	1,615,118			$	61,478			$	39,163,526

(1) A reconciliation of Level 3 investments and disclosures of significant unobservable inputs are presented when the Fund has a significant amount of Level 3 investments at the end of the period in relation to Net Assets. Management has concluded that Level 3 investments are not material in relation to Net Assets.

 

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

109

---

Schedule of Investments	October 31, 2022
Global X MSCI SuperDividend® Emerging Markets ETF

 

‡ For the period ended October 31, 2022, there were no significant changes into/out of Level 3. The transfer into Level 3 investments for the Fund were immaterial, although the unrealized appreciation/(depreciation) on these investments was $ (6,798,340). These securities were impacted by the invasion of Ukraine and sanctions on market conditions in Russia. From the start of the conflict in Ukraine until October 31, 2022, Russian-held investments were valued at were valued at discount from their last traded prices.

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.

110

---

Schedule of Investments		October 31, 2022
Global X SuperDividend® REIT ETF

 

		Shares				Value
COMMON STOCK — 99.7%
AUSTRALIA — 7.3%
Real Estate — 7.3%
Charter Hall Long Wale ‡			3,552,575			$	9,881,894
Waypoint ‡			6,308,863				11,013,401
TOTAL AUSTRALIA							20,895,295
CANADA — 6.9%
Real Estate — 6.9%
NorthWest Healthcare Properties Real Estate
Investment Trust ‡ (A)			1,209,296				9,521,527
SmartCentres Real Estate Investment Trust ‡ (A).			528,766				10,350,099
TOTAL CANADA							19,871,626
SINGAPORE — 28.1%
Real Estate — 28.1%
CapitaLand Integrated Commercial Trust ‡			8,289,879				11,013,336
Frasers Logistics & Commercial Trust ‡			12,059,371				9,374,114
Keppel ‡			14,995,021				9,483,813
Keppel ‡			7,725,157				9,607,997
Mapletree Industrial Trust ‡			6,709,341				10,430,747
Mapletree Logistics Trust ‡			9,687,778				10,405,924
Mapletree Pan Asia Commercial Trust ‡			9,370,960				10,529,168
Suntec Real Estate Investment Trust ‡			10,843,912				9,885,271
TOTAL SINGAPORE							80,730,370
UNITED STATES — 57.4%
Financials — 38.8%
AGNC Investment ‡			899,540				7,394,219

 

 

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

111

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Schedule of Investments		October 31, 2022
Global X SuperDividend® REIT ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
Annaly Capital Management ‡			427,008			$	7,920,998
Ares Commercial Real Estate ‡			910,143				11,231,165
ARMOUR Residential ‡(A)			1,420,578				7,557,475
Blackstone Mortgage Trust, Cl A ‡			411,140				10,262,054
Broadmark Realty Capital ‡			1,423,756				8,286,260
Dynex Capital ‡			784,223				9,363,623
Ellington Financial ‡			731,762				9,790,976
KKR Real Estate Finance Trust ‡			620,020				10,800,748
MFA Financial ‡			732,279				7,293,499
PennyMac Mortgage Investment Trust ‡			800,683				11,105,473
Rithm Capital ‡			1,195,429				10,077,466
							111,083,956
Real Estate — 18.6%
Gaming and Leisure Properties ‡			288,810				14,475,157
Getty Realty ‡			460,281				14,494,249
Physicians Realty Trust ‡			747,956				11,264,217
WP Carey ‡			172,879				13,190,668
							53,424,291
TOTAL UNITED STATES							164,508,247
TOTAL COMMON STOCK
(Cost $359,603,919)							286,005,538
SHORT-TERM INVESTMENT(B)(C) — 3.1%
Fidelity Investments Money Market
Government Portfolio, Cl Institutional,
2.910%
(Cost $8,828,628)			8,828,628				8,828,628

 

 

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

112

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Schedule of Investments		October 31, 2022
Global X SuperDividend® REIT ETF

 

 

		Face Amount				Value
REPURCHASE AGREEMENT(B) — 4.3%
BNP Paribas 2.930%, dated 10/31/2022, to be repurchased on 11/01/2022, repurchase price $12,267,543 (collateralized by U.S. Treasury Obligations, ranging in par value $248,815 - $1,433,387, 2.500% - 2.750%, 03/31/2027 - 05/31/2029, with a total market value of $12,496,959) (Cost $12,266,545)		$	12,266,545			$	12,266,545
TOTAL INVESTMENTS — 107.1%
(Cost $380,699,092)						$	307,100,711

Percentages are based on Net Assets of $286,654,636.

‡	Real Estate Investment Trust
(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 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		$	286,005,538			$	—			$	—			$	286,005,538
Short-Term Investment			8,828,628				—				—				8,828,628
Repurchase Agreement			—				12,266,545				—				12,266,545
Total Investments in Securities		$	294,834,166			$	12,266,545			$	—			$	307,100,711

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.

113

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Schedule of Investments		October 31, 2022
Global X NASDAQ 100® Covered Call ETF

 

		Shares				Value
COMMON STOCK — 104.9%(A)
BRAZIL — 0.5%
Consumer Discretionary — 0.5%
MercadoLibre *			32,403			$	29,215,193
CHINA — 1.1%
Communication Services — 0.2%
Baidu ADR *			112,164				8,588,398
NetEase ADR .			104,757				5,826,584
							14,414,982
Consumer Discretionary — 0.5%
JD.com ADR .			311,574				11,618,594
Pinduoduo ADR *			301,902				16,553,287
							28,171,881
Information Technology — 0.4%
NXP Semiconductors .			169,110				24,703,589
TOTAL CHINA							67,290,452

 

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

114

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Schedule of Investments		October 31, 2022
Global X NASDAQ 100® Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
NETHERLANDS — 0.4%
Information Technology — 0.4%
ASML Holding .			55,437			$	26,189,548
UNITED KINGDOM — 0.3%
Health Care — 0.3%
AstraZeneca ADR .			381,392				22,429,663
UNITED STATES — 102.6%
Communication Services — 15.4%
Activision Blizzard .			503,115				36,626,772
Alphabet, Cl A *			2,319,064				219,174,739
Alphabet, Cl C *			2,383,626				225,634,037
Charter Communications, Cl A *			103,341				37,990,218
Comcast, Cl A			2,827,847				89,755,864
Electronic Arts			179,119				22,561,829
Match Group *			174,643				7,544,578
Meta Platforms, Cl A *			1,321,039				123,067,993
Netflix *			285,577				83,354,215
Sirius XM Holdings .			2,513,626				15,182,301
T-Mobile US *			805,072				122,016,712
							982,909,258
Consumer Discretionary — 15.4%
Airbnb, Cl A *			256,846				27,459,406
Amazon.com *			3,939,406				403,552,751
Booking Holdings *			25,520				47,709,130
Dollar Tree *			144,321				22,874,878
eBay			338,625				13,490,820
Lucid Group *			1,036,364				14,809,641
Lululemon Athletica *			78,795				25,926,707
Marriott International, Cl A			208,810				33,432,569
O'Reilly Automotive *			40,744				34,109,654
Ross Stores			225,594				21,587,090
Starbucks			737,052				63,821,333
Tesla *			1,202,046				273,513,547
							982,287,526
Consumer Staples — 7.4%
Costco Wholesale			284,326				142,589,489

 

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

115

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Schedule of Investments		October 31, 2022
Global X NASDAQ 100® Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Staples — continued
Keurig Dr Pepper			910,900			$	35,379,356
Kraft Heinz			788,779				30,344,328
Mondelez International, Cl A .			880,796				54,151,338
Monster Beverage *			339,060				31,776,703
PepsiCo			885,648				160,815,964
Walgreens Boots Alliance			557,178				20,336,997
							475,394,175
Health Care — 7.4%
Align Technology *			48,366				9,397,514
Amgen .			343,496				92,864,144
Biogen *			93,442				26,485,200
Dexcom *			252,830				30,536,807
Gilead Sciences			805,362				63,188,702
IDEXX Laboratories *			51,706				18,597,614
Illumina *			101,336				23,187,704
Intuitive Surgical *			229,502				56,565,358
Moderna *			251,676				37,834,453
Regeneron Pharmaceuticals *			68,888				51,579,890
Seagen *			119,055				15,139,034
Vertex Pharmaceuticals *			164,824				51,425,088
							476,801,508
Industrials — 3.9%
Cintas			65,695				28,087,897
Copart *			153,336				17,636,707
CSX			1,376,967				40,014,661
Fastenal			370,742				17,917,961
Honeywell International .			432,647				88,268,641
Old Dominion Freight Line			72,069				19,790,147
PACCAR			224,108				21,700,378
Verisk Analytics, Cl A .			97,378				17,803,620
							251,220,012
Information Technology — 51.6%
Adobe *			300,496				95,707,976
Advanced Micro Devices *			1,037,109				62,288,767
Analog Devices			330,571				47,146,036
ANSYS *			54,043				11,952,150
Apple .			6,213,736				952,814,278

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

116

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Schedule of Investments		October 31, 2022
Global X NASDAQ 100® Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
Applied Materials .			552,998			$	48,824,193
Atlassian, Cl A *			93,439				18,942,888
Autodesk *			138,942				29,775,271
Automatic Data Processing			266,935				64,518,189
Broadcom			259,973				122,218,507
Cadence Design Systems *			176,282				26,687,332
Cisco Systems			2,658,332				120,768,023
Cognizant Technology Solutions, Cl A			333,734				20,774,941
Crowdstrike Holdings, Cl A *			138,424				22,313,949
Datadog, Cl A *			187,720				15,113,337
DocuSign, Cl A *			122,885				5,935,345
Fiserv *			411,244				42,251,209
Fortinet *			507,591				29,013,902
Intel .			2,637,252				74,977,074
Intuit .			181,160				77,445,900
KLA			90,178				28,536,828
Lam Research			88,131				35,673,666
Marvell Technology .			549,360				21,798,605
Microchip Technology			355,959				21,976,909
Micron Technology .			709,308				38,373,563
Microsoft			2,883,679				669,388,406
NVIDIA .			1,355,547				182,958,179
Okta, Cl A *			92,695				5,202,043
Palo Alto Networks *			192,325				33,001,047
Paychex			231,718				27,414,557
PayPal Holdings *			742,933				62,094,340
QUALCOMM .			721,150				84,850,509
Skyworks Solutions			98,339				8,458,137
Splunk *			99,695				8,285,651
Synopsys *			98,409				28,789,553
Texas Instruments .			586,671				94,236,963
VeriSign *			65,826				13,195,480
Workday, Cl A *			129,583				20,191,623
Zoom Video Communications, Cl A *			154,679				12,906,416
Zscaler *			87,758				13,523,508
							3,300,325,250
Utilities — 1.5%
American Electric Power			330,649				29,070,660
Constellation Energy .			210,629				19,912,866

 

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

117

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Schedule of Investments		October 31, 2022
Global X NASDAQ 100® Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Utilities — continued
Exelon			639,853			$	24,691,927
Xcel Energy			352,438				22,947,238
							96,622,691
TOTAL UNITED STATES							6,565,560,420
TOTAL COMMON STOCK
(Cost $7,292,685,852)							6,710,685,276
TOTAL INVESTMENTS — 104.9%
(Cost $7,292,685,852)						$	6,710,685,276

WRITTEN OPTIONS— (5.0)%
(Premiums Received  $(289,674,849))						$	(321,715,990	)

Percentages are based on Net Assets of $6,397,648,310.
A list of the exchange traded option contracts held by the Fund at October 31, 2022, is as
follows:

		Number of				Notional
Description		Contracts				Amount				Exercise Price			Expiration  Date		Value
WRITTEN OPTIONS — (5.0)%
Call Options
Nasdaq-100			(5,882	)		$	(6,499,610,000	)		$	11,050.00		11/18/22		$	(321,715,990	)

 

* Non-income producing security.

(A) All or a portion of these securities has been segregated as collateral for options contracts. The aggregate market value of collateral at October 31, 2022 was $6,710,685,276.

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

118

---

Schedule of Investments		October 31, 2022
Global X NASDAQ 100® Covered Call ETF

 

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

 

Investments in Securities		Level 1				Level 2				Level 3				Total
Common Stock		$	6,710,685,276			$	—			$	—			$	6,710,685,276
Total Investments in Securities		$	6,710,685,276			$	—			$	—			$	6,710,685,276

Other Financial Instruments		Level 1				Level 2				Level 3				Total
Written Options		$	(321,715,990	)		$	–			$	–			$	(321,715,990	)
Total Other Financial Instruments		$	(321,715,990	)		$	–			$	–			$	(321,715,990	)

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.

119

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Covered Call ETF

 

		Shares				Value
COMMON STOCK — 106.0%(A)
CHINA — 0.1%
Information Technology — 0.1%
NXP Semiconductors .			16,762			$	2,448,593
SWITZERLAND — 0.2%
Information Technology — 0.2%
TE Connectivity			20,424				2,496,425
UNITED KINGDOM — 0.5%
Materials — 0.5%
Linde			31,505				9,368,012
UNITED STATES — 105.2%
Communication Services — 7.8%
Activision Blizzard .			45,471				3,310,289
Alphabet, Cl A *			378,034				35,727,993
Alphabet, Cl C *			338,081				32,002,747
AT&T			450,747				8,217,118
Charter Communications, Cl A *			6,603				2,427,395
Comcast, Cl A			278,455				8,838,162
DISH Network, Cl A *			15,099				225,126

 

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

120

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Communication Services — continued
Electronic Arts			15,931			$	2,006,669
Fox, Cl A			19,987				577,025
Fox, Cl B			9,997				271,918
Interpublic Group			23,787				708,615
Live Nation Entertainment *			9,035				719,276
Lumen Technologies .			61,148				450,049
Match Group *			18,728				809,050
Meta Platforms, Cl A *			143,915				13,407,121
Netflix *			28,123				8,208,541
News, Cl A .			24,999				421,733
News, Cl B .			9,630				164,962
Omnicom Group .			14,506				1,055,311
Paramount Global, Cl B			38,729				709,515
Take-Two Interactive Software *			10,520				1,246,410
T-Mobile US *			37,012				5,609,539
Verizon Communications			265,453				9,919,979
Walt Disney *			115,153				12,268,401
Warner Bros Discovery *			143,808				1,869,504
							151,172,448
Consumer Discretionary — 11.5%
Advance Auto Parts			3,220				611,542
Amazon.com *			558,604				57,223,394
Aptiv *			17,636				1,606,111
AutoZone *			1,242				3,145,837
Bath & Body Works .			15,503				517,490
Best Buy			14,169				969,301
Booking Holdings *			2,495				4,664,353
BorgWarner .			14,483				543,547
Caesars Entertainment *			14,359				627,919
CarMax *			9,807				617,939
Carnival *			52,703				477,489
Chipotle Mexican Grill, Cl A *			1,674				2,508,204
Darden Restaurants .			9,037				1,293,556
Dollar General .			14,432				3,680,882
Dollar Tree *			12,907				2,045,759
Domino's Pizza .			1,781				591,719
DR Horton			19,705				1,514,920
eBay			31,339				1,248,546
Etsy *			9,152				859,464

 

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

121

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Discretionary — continued
Expedia Group *			9,614			$	898,621
Ford Motor .			251,387				3,361,044
Garmin			9,776				860,679
General Motors			89,661				3,519,194
Genuine Parts .			9,275				1,649,652
Hasbro .			8,975				585,619
Hilton Worldwide Holdings .			17,518				2,369,485
Home Depot .			64,859				19,206,696
Las Vegas Sands *			22,856				868,757
Lennar, Cl A .			17,097				1,379,728
LKQ			17,410				968,692
Lowe's			40,437				7,883,193
Marriott International, Cl A			17,584				2,815,374
McDonald's .			46,470				12,670,510
MGM Resorts International .			23,685				842,475
Mohawk Industries *			4,312				408,562
Newell Brands .			24,951				344,573
NIKE, Cl B			79,963				7,410,971
Norwegian Cruise Line Holdings *			25,816				436,032
NVR *			202				856,026
O'Reilly Automotive *			3,835				3,210,547
Pool .			2,584				786,130
PulteGroup .			15,377				614,926
Ralph Lauren, Cl A .			4,474				414,695
Ross Stores			22,416				2,144,987
Royal Caribbean Cruises *			14,434				770,487
Starbucks			70,512				6,105,634
Tapestry .			18,348				581,265
Target			28,499				4,680,961
Tesla *			167,932				38,211,247
TJX			71,996				5,190,912
Tractor Supply .			7,007				1,539,928
Ulta Beauty *			3,408				1,429,213
VF .			19,730				557,373
Whirlpool			2,829				391,081
Wynn Resorts *			5,065				323,654
Yum! Brands			18,208				2,153,096
							223,189,991

 

 

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

122

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Staples — 7.4%
Altria Group .			110,654			$	5,119,961
Archer-Daniels-Midland			35,665				3,458,792
Brown-Forman, Cl B			12,179				828,172
Campbell Soup .			14,246				753,756
Church & Dwight			16,085				1,192,381
Clorox			6,791				991,758
Coca-Cola .			245,751				14,708,197
Colgate-Palmolive			51,299				3,787,918
Conagra Brands .			30,080				1,103,936
Constellation Brands, Cl A			10,300				2,544,924
Costco Wholesale			27,970				14,026,955
Estee Lauder, Cl A .			14,760				2,959,232
General Mills			37,935				3,094,737
Hershey			9,344				2,231,067
Hormel Foods			19,445				903,220
J M Smucker .			7,147				1,076,767
Kellogg			15,388				1,182,106
Keurig Dr Pepper			52,313				2,031,837
Kimberly-Clark			21,546				2,681,615
Kraft Heinz			49,034				1,886,338
Kroger			42,420				2,006,042
Lamb Weston Holdings .			9,730				838,921
McCormick .			16,480				1,295,987
Molson Coors Beverage, Cl B			12,034				606,875
Mondelez International, Cl A .			86,889				5,341,936
Monster Beverage *			23,679				2,219,196
PepsiCo			87,121				15,819,431
Philip Morris International			98,017				9,002,861
Procter & Gamble .			150,776				20,305,004
Sysco .			32,489				2,812,248
Tyson Foods, Cl A			18,973				1,296,804
Walgreens Boots Alliance			46,682				1,703,893
Walmart			90,022				12,812,831
							142,625,698
Energy — 5.7%
APA .			23,649				1,075,083
Baker Hughes, Cl A			60,151				1,663,777
Chevron .			113,627				20,555,124
ConocoPhillips .			80,448				10,143,688

 

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

123

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Energy — continued
Coterra Energy			51,150			$	1,592,299
Devon Energy			40,236				3,112,255
Diamondback Energy			10,137				1,592,624
EOG Resources			35,965				4,909,942
EQT .			22,602				945,668
Exxon Mobil			262,839				29,125,190
Halliburton .			58,055				2,114,363
Hess			17,787				2,509,390
Kinder Morgan			126,689				2,295,605
Marathon Oil .			47,308				1,440,529
Marathon Petroleum			30,626				3,479,726
Occidental Petroleum .			45,772				3,323,047
ONEOK			28,216				1,673,773
Phillips 66 .			30,618				3,193,151
Pioneer Natural Resources			14,667				3,760,765
Schlumberger			86,945				4,523,748
Targa Resources			13,834				945,831
Valero Energy .			25,967				3,260,157
Williams			77,755				2,544,921
							109,780,656
Financials — 12.1%
Aflac			33,777				2,199,220
Allstate			17,288				2,182,610
American Express .			38,012				5,642,881
American International Group			45,617				2,600,169
Ameriprise Financial			6,934				2,143,438
Aon, Cl A .			13,400				3,771,966
Arch Capital Group *			23,174				1,332,505
Arthur J Gallagher			13,431				2,512,671
Assurant .			4,357				591,942
Bank of America			441,283				15,903,839
Bank of New York Mellon			47,904				2,017,237
Berkshire Hathaway, Cl B *			113,807				33,583,308
BlackRock, Cl A .			9,269				5,986,940
Brown & Brown .			14,005				823,354
Capital One Financial			24,664				2,614,877
Cboe Global Markets .			6,748				840,126
Charles Schwab .			96,231				7,666,724
Chubb .			26,471				5,688,353

 

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

124

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Schedule of Investments		October 31, 2022
Global X S&P 500® Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
Cincinnati Financial .			9,794			$	1,011,916
Citigroup			119,001				5,457,386
Citizens Financial Group .			32,732				1,338,739
CME Group, Cl A .			22,127				3,834,609
Comerica			9,534				672,147
Discover Financial Services			15,747				1,644,932
Everest Re Group			2,449				790,194
FactSet Research Systems .			2,383				1,013,943
Fifth Third Bancorp			42,912				1,531,529
First Republic Bank .			10,064				1,208,686
Franklin Resources			18,113				424,750
Globe Life .			4,952				572,055
Goldman Sachs Group			21,602				7,442,105
Hartford Financial Services Group .			20,458				1,481,364
Huntington Bancshares			92,954				1,411,042
Intercontinental Exchange .			35,523				3,394,933
Invesco			22,568				345,742
JPMorgan Chase .			184,999				23,287,674
KeyCorp			58,540				1,046,110
Lincoln National .			9,815				528,734
Loews .			13,391				763,555
M&T Bank .			10,143				1,707,777
MarketAxess Holdings .			2,263				552,263
Marsh & McLennan .			30,626				4,945,793
MetLife .			39,939				2,923,934
Moody's .			9,931				2,630,424
Morgan Stanley			82,480				6,777,382
MSCI, Cl A			5,064				2,374,307
Nasdaq .			21,290				1,325,090
Northern Trust .			13,832				1,166,729
PNC Financial Services Group			26,039				4,213,891
Principal Financial Group			14,719				1,297,185
Progressive			35,896				4,609,046
Prudential Financial .			24,310				2,557,169
Raymond James Financial .			12,292				1,452,177
Regions Financial .			59,851				1,313,729
S&P Global .			21,571				6,929,684
Signature Bank NY .			4,627				733,518
State Street .			23,743				1,756,982

 

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

125

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
SVB Financial Group *			3,783			$	873,722
Synchrony Financial			34,439				1,224,651
T Rowe Price Group			14,236				1,511,294
Travelers .			15,130				2,790,880
Truist Financial			84,318				3,776,603
US Bancorp .			83,075				3,526,534
W R Berkley			14,328				1,065,717
Wells Fargo .			239,651				11,021,550
Willis Towers Watson			6,968				1,520,487
Zions Bancorp .			10,105				524,854
							234,407,677
Health Care — 16.2%
Abbott Laboratories .			110,650				10,947,711
AbbVie			111,596				16,337,654
ABIOMED *			2,927				737,838
Agilent Technologies			19,062				2,637,228
Align Technology *			4,706				914,376
AmerisourceBergen, Cl A .			10,006				1,573,143
Amgen .			33,823				9,144,048
Baxter International			32,286				1,754,744
Becton Dickinson			17,559				4,143,397
Biogen *			9,437				2,674,823
Bio-Rad Laboratories, Cl A *			1,170				411,501
Bio-Techne			2,418				716,357
Boston Scientific *			87,968				3,792,300
Bristol-Myers Squibb .			134,948				10,454,422
Cardinal Health			17,593				1,335,309
Catalent *			11,661				766,478
Centene *			33,879				2,884,119
Charles River Laboratories International *			3,148				668,163
Cigna .			18,642				6,022,484
Cooper .			3,166				865,553
CVS Health .			83,042				7,864,077
Danaher			41,372				10,412,091
DaVita *			4,944				360,961
DENTSPLY SIRONA .			14,604				450,095
Dexcom *			25,062				3,026,988
Edwards Lifesciences *			39,427				2,855,698
Elevance Health			15,181				8,300,515

 

 

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

126

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Schedule of Investments		October 31, 2022
Global X S&P 500® Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Health Care — continued
Eli Lilly			49,774			$	18,022,668
Gilead Sciences			77,006				6,041,891
HCA Healthcare			13,176				2,865,385
Henry Schein *			9,124				624,629
Hologic *			15,260				1,034,628
Humana			8,033				4,483,057
IDEXX Laboratories *			5,222				1,878,249
Illumina *			10,040				2,297,353
Incyte *			12,721				945,679
Intuitive Surgical *			21,986				5,418,889
IQVIA Holdings *			10,816				2,267,791
Johnson & Johnson .			165,813				28,846,488
Laboratory Corp of America Holdings			5,638				1,250,847
McKesson			9,139				3,558,452
Medtronic			83,734				7,313,328
Merck .			159,914				16,183,297
Mettler-Toledo International *			1,293				1,635,554
Moderna *			21,179				3,183,839
Molina Healthcare *			3,270				1,173,472
Organon .			15,101				395,344
PerkinElmer			6,949				928,247
Pfizer			354,255				16,490,570
Quest Diagnostics .			6,167				885,890
Regeneron Pharmaceuticals *			6,584				4,929,770
ResMed			9,371				2,096,199
STERIS			6,393				1,103,304
Stryker .			20,661				4,736,328
Teleflex			2,972				637,672
Thermo Fisher Scientific			24,745				12,718,188
UnitedHealth Group			58,984				32,744,968
Universal Health Services, Cl B .			4,977				576,685
Vertex Pharmaceuticals *			15,733				4,908,696
Viatris *			75,029				760,044
Waters *			3,810				1,139,838
West Pharmaceutical Services			4,704				1,082,390
Zimmer Biomet Holdings .			13,849				1,569,784
Zoetis, Cl A .			29,706				4,479,071
							313,260,557

 

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

127

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Schedule of Investments		October 31, 2022
Global X S&P 500® Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — 8.8%
3M			35,147			$	4,421,141
A O Smith .			9,571				524,299
Alaska Air Group *			9,431				419,302
Allegion .			4,946				518,192
American Airlines Group *			42,183				598,155
AMETEK			13,055				1,692,711
Boeing *			34,283				4,885,670
Carrier Global			48,325				1,921,402
Caterpillar .			32,454				7,024,993
CH Robinson Worldwide			9,012				880,653
Cintas			5,498				2,350,670
Copart *			13,944				1,603,839
CoStar Group *			24,376				2,016,383
CSX			136,038				3,953,264
Cummins			9,016				2,204,502
Deere .			17,128				6,779,605
Delta Air Lines *			41,507				1,408,333
Dover			9,315				1,217,377
Eaton			25,319				3,799,622
Emerson Electric			37,629				3,258,671
Equifax .			6,941				1,176,777
Expeditors International of Washington .			11,058				1,082,025
Fastenal			36,584				1,768,105
FedEx .			15,266				2,446,835
Fortive .			23,756				1,518,008
Fortune Brands Home & Security .			9,146				551,687
Generac Holdings *			4,571				529,825
General Dynamics			14,296				3,571,141
General Electric .			69,514				5,408,884
Honeywell International .			42,612				8,693,700
Howmet Aerospace .			24,619				875,205
Huntington Ingalls Industries			2,383				612,598
IDEX .			4,860				1,080,427
Illinois Tool Works			17,911				3,824,536
Ingersoll Rand .			25,094				1,267,247
Jacobs Solutions .			9,040				1,041,589
JB Hunt Transport Services			4,897				837,730
Johnson Controls International			43,990				2,544,382
L3Harris Technologies .			12,183				3,002,744

 

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

128

---

 

Schedule of Investments		October 31, 2022
Global X S&P 500® Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — continued
Leidos Holdings			9,631			$	978,413
Lockheed Martin			14,495				7,054,427
Masco .			15,170				701,916
Nordson .			2,885				649,125
Norfolk Southern .			14,948				3,409,190
Northrop Grumman			9,221				5,062,421
Old Dominion Freight Line			5,943				1,631,948
Otis Worldwide			27,446				1,938,785
PACCAR			22,336				2,162,795
Parker-Hannifin			8,203				2,383,956
Pentair			10,051				431,690
Quanta Services .			9,573				1,359,749
Raytheon Technologies			93,369				8,853,249
Republic Services, Cl A			11,874				1,574,730
Robert Half International			5,885				449,967
Rockwell Automation			7,256				1,852,457
Rollins .			14,816				623,457
Snap-On .			2,830				628,402
Southwest Airlines *			38,058				1,383,408
Stanley Black & Decker .			9,787				768,182
Textron			14,508				992,928
Trane Technologies .			14,576				2,326,767
TransDigm Group .			3,447				1,984,645
Union Pacific			39,505				7,788,016
United Airlines Holdings *			19,608				844,713
United Parcel Service, Cl B .			46,294				7,766,744
United Rentals *			4,668				1,473,734
Verisk Analytics, Cl A .			8,946				1,635,597
Waste Management .			23,892				3,783,776
Westinghouse Air Brake Technologies			10,997				1,025,800
WW Grainger .			2,921				1,706,886
Xylem .			12,024				1,231,618
							169,771,720
Information Technology — 27.6%
Accenture, Cl A			39,965				11,346,063
Adobe *			29,585				9,422,822
Advanced Micro Devices *			102,235				6,140,234
Akamai Technologies *			9,811				866,606
Amphenol, Cl A .			37,913				2,874,943

 

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

129

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Schedule of Investments		October 31, 2022
Global X S&P 500® Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
Analog Devices			31,974			$	4,560,132
ANSYS *			5,686				1,257,516
Apple .			951,853				145,957,139
Applied Materials .			55,188				4,872,549
Arista Networks *			14,137				1,708,598
Autodesk *			13,844				2,966,769
Automatic Data Processing			25,496				6,162,383
Broadcom			25,510				11,992,761
Broadridge Financial Solutions .			6,330				949,880
Cadence Design Systems *			17,451				2,641,907
CDW			7,620				1,316,812
Ceridian HCM Holding *			9,114				603,256
Cisco Systems			261,599				11,884,443
Cognizant Technology Solutions, Cl A			33,142				2,063,089
Corning .			42,658				1,372,308
DXC Technology *			15,387				442,376
Enphase Energy *			8,658				2,658,006
EPAM Systems *			3,259				1,140,650
F5 *			4,621				660,387
Fidelity National Information Services .			38,704				3,212,045
Fiserv *			39,291				4,036,757
FleetCor Technologies *			4,858				904,171
Fortinet *			41,819				2,390,374
Gartner *			4,968				1,499,939
Global Payments			16,057				1,834,673
Hewlett Packard Enterprise			83,892				1,197,139
HP			59,932				1,655,322
Intel .			259,835				7,387,109
International Business Machines .			57,138				7,901,614
Intuit .			17,362				7,422,255
Jack Henry & Associates .			4,871				969,621
Juniper Networks .			20,645				631,737
Keysight Technologies *			11,369				1,979,911
KLA			8,686				2,748,685
Lam Research			8,714				3,527,253
Mastercard, Cl A .			53,854				17,673,806
Microchip Technology			35,319				2,180,595
Micron Technology .			70,057				3,790,084
Microsoft			469,943				109,087,869

 

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

130

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Schedule of Investments		October 31, 2022
Global X S&P 500® Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
Monolithic Power Systems .			2,950			$	1,001,377
Motorola Solutions			10,451				2,609,719
NetApp .			14,079				975,252
NortonLifeLock			36,774				828,518
NVIDIA .			157,994				21,324,450
ON Semiconductor *			27,776				1,706,280
Oracle .			96,125				7,504,479
Paychex			20,461				2,420,741
Paycom Software *			3,108				1,075,368
PayPal Holdings *			71,056				5,938,860
PTC *			5,847				688,952
Qorvo *			7,164				616,677
QUALCOMM .			71,017				8,355,860
Roper Technologies			6,681				2,769,542
Salesforce *			62,878				10,223,334
Seagate Technology Holdings .			13,810				685,805
ServiceNow *			12,450				5,238,213
Skyworks Solutions			9,689				833,351
SolarEdge Technologies *			3,469				797,974
Synopsys *			9,743				2,850,315
Teledyne Technologies *			3,098				1,232,942
Teradyne .			9,781				795,684
Texas Instruments .			57,757				9,277,507
Trimble *			14,780				889,165
Tyler Technologies *			2,770				895,624
VeriSign *			5,761				1,154,850
Visa, Cl A .			103,165				21,371,661
Western Digital *			19,588				673,240
Zebra Technologies, Cl A *			3,347				947,937
							533,576,265
Materials — 2.2%
Air Products & Chemicals .			13,651				3,418,210
Albemarle			7,289				2,039,973
Amcor			99,092				1,147,485
Avery Dennison .			4,934				836,560
Ball			19,779				976,885
Celanese, Cl A .			6,528				627,471
CF Industries Holdings			14,408				1,530,994
Corteva .			45,771				2,990,677

 

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

131

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Schedule of Investments		October 31, 2022
Global X S&P 500® Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Materials — continued
Dow			46,994			$	2,196,500
DuPont de Nemours .			32,841				1,878,505
Eastman Chemical .			9,113				699,970
Ecolab			15,837				2,487,518
FMC .			8,968				1,066,295
Freeport-McMoRan .			91,071				2,886,040
International Flavors & Fragrances			16,081				1,569,666
International Paper .			24,608				827,075
LyondellBasell Industries, Cl A			16,742				1,279,926
Martin Marietta Materials			3,505				1,177,610
Mosaic .			23,166				1,245,173
Newmont			50,739				2,147,275
Nucor			16,727				2,197,593
Packaging Corp of America .			6,067				729,314
PPG Industries			13,374				1,527,043
Sealed Air			9,902				471,533
Sherwin-Williams .			15,011				3,377,925
Vulcan Materials			9,110				1,491,307
Westrock .			17,604				599,592
							43,424,115
Real Estate — 2.8%
Alexandria Real Estate Equities ‡			9,227				1,340,683
American Tower ‡			28,601				5,925,841
AvalonBay Communities ‡			9,256				1,620,911
Boston Properties ‡			9,631				700,174
Camden Property Trust ‡			6,755				780,540
CBRE Group, Cl A *			20,541				1,457,179
Crown Castle			26,559				3,539,252
Digital Realty Trust ‡			18,608				1,865,452
Equinix .			5,583				3,162,435
Equity Residential ‡			21,994				1,386,062
Essex Property Trust ‡			3,602				800,509
Extra Space Storage ‡			7,630				1,353,867
Federal Realty Investment Trust ‡			4,546				449,963
Healthpeak Properties ‡			34,132				809,952
Host Hotels & Resorts ‡			46,805				883,678
Invitation Homes ‡			35,703				1,131,428
Iron Mountain ‡			18,508				926,696
Kimco Realty ‡			37,738				806,838

 

 

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

132

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Schedule of Investments		October 31, 2022
Global X S&P 500® Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Real Estate — continued
Mid-America Apartment Communities ‡			6,252			$	984,377
ProLogis ‡			57,117				6,325,708
Public Storage ‡			9,713				3,008,602
Realty Income ‡			38,001				2,366,322
Regency Centers ‡			9,997				604,919
SBA Communications, Cl A			6,924				1,868,788
Simon Property Group ‡			20,801				2,266,893
UDR ‡			18,361				730,033
Ventas ‡			26,832				1,049,936
VICI Properties ‡			61,724				1,976,403
Vornado Realty Trust ‡			9,836				232,031
Welltower ‡			29,735				1,815,024
Weyerhaeuser ‡			46,940				1,451,854
							53,622,350
Utilities — 3.1%
AES .			43,167				1,129,249
Alliant Energy .			14,747				769,351
Ameren .			14,355				1,170,220
American Electric Power			31,627				2,780,646
American Water Works			11,298				1,642,051
Atmos Energy			8,994				958,311
CenterPoint Energy .			39,493				1,129,895
CMS Energy			18,585				1,060,274
Consolidated Edison			23,066				2,028,885
Constellation Energy .			21,900				2,070,395
Dominion Energy			51,197				3,582,254
DTE Energy .			12,797				1,434,672
Duke Energy			47,323				4,409,557
Edison International .			25,532				1,532,941
Entergy			11,442				1,225,896
Evergy			14,693				898,183
Eversource Energy .			22,041				1,681,287
Exelon			61,030				2,355,148
FirstEnergy			38,551				1,453,758
NextEra Energy .			124,204				9,625,810
NiSource .			25,084				644,408
NRG Energy			14,667				651,215
PG&E *			98,323				1,467,962
Pinnacle West Capital			7,928				532,841

 

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

133

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Schedule of Investments		October 31, 2022
Global X S&P 500® Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Utilities — continued
PPL			47,176			$	1,249,692
Public Service Enterprise Group .			32,270				1,809,379
Sempra Energy .			20,020				3,021,819
Southern			65,254				4,272,832
WEC Energy Group .			19,828				1,810,891
Xcel Energy			34,974				2,277,157
							60,676,979
TOTAL UNITED STATES							2,035,508,456
TOTAL COMMON STOCK
(Cost $2,181,828,476)							2,049,821,486
TOTAL INVESTMENTS — 106.0%
(Cost $2,181,828,476)						$	2,049,821,486
WRITTEN OPTIONS— (6.1)%
(Premiums Received  $(71,984,158))							(117,689,855	)

Percentages are based on Net Assets of $1,934,545,080.

A list of the exchange traded option contracts held by the Fund at October 31, 2022, is as follows:

Description		Number of Contracts				Notional Amount				Exercise Price			Expiration Date		Value
WRITTEN OPTIONS — (6.1)%
Call Options
S&P 500 Index			(5,293	)		$	(1,947,824,000	)		$	3,680.00		11/18/22		$	(117,689,855	)

* Non-income producing security.

‡ Real Estate Investment Trust

(A) All or a portion of these securities has been segregated as collateral for options contracts. The aggregate market value of collateral at October 31, 2022 was $2,049,821,486.

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

134

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Schedule of Investments		October 31, 2022
Global X S&P 500® Covered Call ETF

 

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

 

Investments in Securities		Level 1				Level 2				Level 3				Total
Common Stock		$	2,049,821,486			$	—			$	—			$	2,049,821,486
Total Investments in Securities		$	2,049,821,486			$	—			$	—			$	2,049,821,486

Other Financial Instruments		Level 1				Level 2				Level 3				Total
Written Options		$	(117,689,855	)		$	–			$	–			$	(117,689,855	)
Total Other Financial Instruments		$	(117,689,855	)		$	–			$	–			$	(117,689,855	)

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.

135

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Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — 75.8%(A)
AUSTRALIA — 0.0%
Consumer Discretionary — 0.0%
Cenntro Electric Group *			1			$	1
BAHAMAS — 0.0%
Consumer Discretionary — 0.0%
OneSpaWorld Holdings *			32,104				291,183
BERMUDA — 0.2%
Communication Services — 0.0%
Wejo Group *			1				1
Energy — 0.0%
Teekay *			1				4
Financials — 0.1%
Bank of NT Butterfield & Son			21,259				734,286
SiriusPoint *			36,721				235,749
							970,035

 

 

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

136

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Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — 0.1%
Triton International .			27,834			$	1,689,245
TOTAL BERMUDA							2,659,285
BRAZIL — 0.1%
Information Technology — 0.1%
StoneCo, Cl A *			121,326				1,273,923
CAMEROON — 0.1%
Energy — 0.1%
Golar LNG *			42,883				1,193,005
CANADA — 0.4%
Consumer Staples — 0.0%
SunOpta *			40,348				453,108
Energy — 0.0%
Teekay Tankers, Cl A *			10,308				324,599
Health Care — 0.1%
AbCellera Biologics *			91,454				1,081,901
Aurinia Pharmaceuticals *			55,542				451,556
							1,533,457
Industrials — 0.1%
Brookfield Business, Cl A			10,831				277,490
Li-Cycle Holdings *			54,665				325,804
							603,294
Materials — 0.0%
Novagold Resources *			98,097				454,189
PolyMet Mining *			1				3
							454,192
Utilities — 0.2%
Brookfield Infrastructure, Cl A			42,506				1,832,859
TOTAL CANADA							5,201,509

 

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

137

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Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
CHILE — 0.0%
Communication Services — 0.0%
Liberty Latin America, Cl A *			16,493			$	128,315
Liberty Latin America, Cl C *			63,564				495,164
TOTAL CHILE							623,479
CHINA — 0.1%
Industrials — 0.1%
Textainer Group Holdings			20,012				598,759
Information Technology — 0.0%
indie Semiconductor, Cl A *			41,295				322,927
TOTAL CHINA							921,686
GERMANY — 0.0%
Health Care — 0.0%
Affimed *			1				2
Materials — 0.0%
Orion Engineered Carbons			25,840				412,406
TOTAL GERMANY							412,408
GHANA — 0.1%
Energy — 0.1%
Kosmos Energy *			189,726				1,231,322
GREECE — 0.0%
Industrials — 0.0%
Safe Bulkers .			1				3
IRELAND — 0.1%
Energy — 0.0%
Ardmore Shipping *			14,392				194,724
Health Care — 0.1%
Prothena *			15,480				951,091

 

 

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

138

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Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — 0.0%
Cimpress *			7,544			$	175,624
TOTAL IRELAND							1,321,439
ISRAEL — 0.1%
Communication Services — 0.0%
Innovid *			1				4
Consumer Discretionary — 0.0%
NEOGAMES *			4,684				80,565
Health Care — 0.1%
Nano-X Imaging *			22,381				317,810
Information Technology — 0.0%
Sapiens International			13,305				261,709
TOTAL ISRAEL							660,088
ITALY — 0.0%
Consumer Discretionary — 0.0%
Ermenegildo Zegna Holditalia .			19,651				215,375
Information Technology — 0.0%
Kaleyra *			1				1
TOTAL ITALY							215,376
MALTA — 0.0%
Communication Services — 0.0%
Gambling.com Group *			3,671				30,763
MONACO — 0.1%
Energy — 0.1%
Scorpio Tankers .			20,844				999,261
Industrials — 0.0%
Costamare .			21,890				206,642
TOTAL MONACO							1,205,903

 

 

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

139

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Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
NORWAY — 0.2%
Energy — 0.1%
FLEX LNG .			12,209			$	381,531
Frontline			62,115				780,165
SFL			49,682				506,756
							1,668,452
Industrials — 0.1%
Golden Ocean Group			50,760				422,831
TOTAL NORWAY							2,091,283
PANAMA — 0.0%
Financials — 0.0%
Banco Latinoamericano de Comercio Exterior,
Cl E			12,522				196,470
PUERTO RICO — 0.2%
Financials — 0.1%
First BanCorp .			83,523				1,318,828
OFG Bancorp .			20,787				579,542
							1,898,370
Information Technology — 0.1%
EVERTEC			27,646				990,003
TOTAL PUERTO RICO							2,888,373
SINGAPORE — 0.1%
Information Technology — 0.1%
Kulicke & Soffa Industries			25,569				1,072,364
THAILAND — 0.1%
Information Technology — 0.1%
Fabrinet *			15,680				1,793,792
UNITED ARAB EMIRATES — 0.0%
Energy — 0.0%
Borr Drilling *			55,613				273,060

 

 

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

140

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Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
UNITED KINGDOM — 0.0%
Health Care — 0.0%
Babylon Holdings, Cl A *			1			$	—
Industrials — 0.0%
Luxfer Holdings			12,150				175,811
TOTAL UNITED KINGDOM							175,811
UNITED STATES — 73.9%
Communication Services — 1.9%
AdTheorent Holding *			1				2
Advantage Solutions *			1				3
AMC Networks, Cl A *			12,630				284,301
Anterix *			8,160				312,936
Arena Group Holdings *			4,773				67,299
ATN International .			4,813				207,537
Audacy, Cl A *			1				—
Bandwidth, Cl A *			10,053				119,329
Boston Omaha, Cl A *			8,923				248,684
Bumble, Cl A *			37,052				941,121
Cardlytics *			14,005				132,067
Cargurus, Cl A *			49,170				715,915
Cars.com *			28,236				391,916
Charge Enterprises *			1				2
Cinemark Holdings *			46,096				489,079
Clear Channel Outdoor Holdings, Cl A *			1				1
Cogent Communications Holdings .			18,937				994,382
Consolidated Communications Holdings *			30,392				157,127
Cumulus Media, Cl A *			7,667				56,506
Daily Journal *			617				165,510
DHI Group *			17,672				113,101
EchoStar, Cl A *			15,893				299,901
Entravision Communications, Cl A			24,808				116,101
Eventbrite, Cl A *			31,494				206,916
EverQuote, Cl A *			8,145				49,603
EW Scripps, Cl A *			24,766				351,430
fuboTV *			76,197				278,881
Gannett *			1				1
Globalstar *			1				2
Gogo *			24,224				344,465

 

 

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

141

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Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Communication Services — continued
Gray Television			36,295			$	513,574
IDT, Cl B *			6,419				167,279
iHeartMedia, Cl A *			47,175				390,609
IMAX *			21,399				272,409
Integral Ad Science Holding *			14,255				120,027
Iridium Communications *			54,199				2,792,875
John Wiley & Sons, Cl A .			18,232				769,208
KORE Group Holdings *			1				3
Leafly Holdings *			1				1
Liberty Media -Liberty Braves *			15,779				491,674
Liberty Media -Liberty Braves, Cl A *			4,604				146,822
Lions Gate Entertainment, Cl A *			23,892				192,570
Lions Gate Entertainment, Cl B *			48,530				368,343
Loyalty Ventures *			1				1
Madison Square Garden Entertainment *			11,001				539,379
Magnite *			53,587				390,649
Marcus .			9,401				141,391
MediaAlpha, Cl A *			9,028				99,127
Ooma *			9,231				149,819
Outbrain *			11,814				50,564
Playstudios *			1				5
PubMatic, Cl A *			20,006				348,104
QuinStreet *			20,804				237,374
Radius Global Infrastructure, Cl A *			31,105				290,832
Reservoir Media *			8,401				48,726
Scholastic			13,744				524,196
Shenandoah Telecommunications			20,650				467,929
Shutterstock			10,334				517,010
Sinclair Broadcast Group, Cl A .			19,040				339,102
Skillz, Cl A *			1				1
Stagwell *			37,731				286,378
Starry Group Holdings, Cl A *			1				—
TechTarget *			11,526				744,003
TEGNA			96,410				2,013,041
Telephone and Data Systems			42,969				730,473
Thryv Holdings *			10,500				214,830
TrueCar *			1				2
United States Cellular *			6,636				206,844
Urban One *			4,963				24,666

 

 

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

142

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Communication Services — continued
Urban One, Cl A *			3,388			$	20,430
Vimeo *			59,315				225,397
Vinco Ventures *			1				1
WideOpenWest *			22,515				308,681
Yelp, Cl A *			30,071				1,155,027
Ziff Davis *			20,781				1,608,242
ZipRecruiter, Cl A *			35,718				598,991
							25,550,727
Consumer Discretionary — 7.9%
1-800-Flowers.com, Cl A *			10,860				79,169
1stdibs.com *			8,655				58,594
2U *			30,035				185,917
Aaron's			13,517				140,847
Abercrombie & Fitch, Cl A *			22,970				403,813
Academy Sports & Outdoors .			35,457				1,561,172
Accel Entertainment, Cl A *			23,519				230,957
Acushnet Holdings			14,665				682,949
Adient *			40,064				1,401,439
Adtalem Global Education *			20,529				856,059
aka Brands Holding *			1				2
Allbirds, Cl A *			39,065				134,384
American Axle & Manufacturing Holdings *			46,528				450,856
American Eagle Outfitters			65,419				743,160
American Public Education *			7,602				97,382
America's Car-Mart *			2,545				173,976
AMMO *			1				3
Arko			34,379				352,385
Asbury Automotive Group *			9,718				1,533,014
Aterian *			1				1
Bally's *			16,695				376,305
BARK *			1				2
Beachbody *			1				1
Beazer Homes USA *			11,946				135,109
Bed Bath & Beyond *			37,802				172,755
Big 5 Sporting Goods			8,688				111,988
Big Lots .			12,716				239,951
Biglari Holdings, Cl B *			301				41,523
BJ's Restaurants *			9,846				323,441
Bloomin' Brands .			37,575				902,176

 

 

 

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

143

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Discretionary — continued
Bluegreen Vacations Holding, Cl A .			6,233			$	107,893
Boot Barn Holdings *			12,417				705,286
Bowlero *			16,057				233,790
Boxed *			1				—
Brinker International *			18,873				630,169
Buckle			12,898				507,278
Build-A-Bear Workshop, Cl A			5,927				104,256
Caleres .			15,728				429,846
Camping World Holdings, Cl A			17,469				486,162
Canoo *			1				1
CarParts.com *			20,261				94,821
Carriage Services, Cl A			6,416				156,615
Cato, Cl A			7,975				94,982
Cavco Industries *			3,930				890,813
Century Casinos *			11,233				89,302
Century Communities			12,687				564,698
Cheesecake Factory			21,155				757,561
Chegg *			52,612				1,134,841
Chico's FAS *			49,956				293,741
Children's Place *			5,914				239,399
Chuy's Holdings *			8,607				252,185
Citi Trends *			3,707				83,815
Clarus .			11,872				143,770
Conn's *			6,922				56,830
Container Store Group *			13,032				70,764
ContextLogic, Cl A *			1				1
Coursera *			51,347				661,863
Cracker Barrel Old Country Store .			9,919				1,132,948
Crocs *			26,231				1,855,843
Dana .			59,278				946,077
Dave & Buster's Entertainment *			18,501				737,265
Denny's *			25,181				285,301
Designer Brands, Cl A			25,968				395,493
Destination XL Group *			24,746				165,303
Dillard's, Cl A .			2,131				700,651
Dine Brands Global			6,933				499,800
Dorman Products *			11,211				915,042
Dream Finders Homes, Cl A *			8,714				96,725
Duluth Holdings, Cl B *			5,057				43,996

 

 

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

144

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Discretionary — continued
Duolingo, Cl A *			9,981			$	816,845
El Pollo Loco Holdings .			8,129				81,615
Ethan Allen Interiors .			9,866				252,471
European Wax Center, Cl A .			12,564				180,670
Everi Holdings *			36,727				697,078
EVgo *			28,111				208,303
Express *			1				1
F45 Training Holdings *			1				3
Faraday Future Intelligent Electric *			1				1
First Watch Restaurant Group *			4,174				71,167
Fisker *			66,992				545,985
Foot Locker .			38,182				1,210,369
Fossil Group *			19,378				82,357
Fox Factory Holding *			18,445				1,620,393
Franchise Group .			12,078				366,567
Frontdoor *			35,141				775,210
Full House Resorts *			13,575				95,161
Funko, Cl A *			13,343				275,533
Genesco *			6,040				284,122
Gentherm *			14,112				824,423
G-III Apparel Group *			18,895				368,453
Golden Entertainment *			8,497				358,743
Goodyear Tire & Rubber *			122,600				1,557,020
GoPro, Cl A *			53,214				290,016
Graham Holdings, Cl B .			1,644				1,025,642
Green Brick Partners *			12,936				299,210
Group 1 Automotive			6,960				1,204,080
Groupon, Cl A *			9,434				69,529
GrowGeneration *			22,976				82,024
Guess? .			16,627				282,326
Haverty Furniture			6,949				184,704
Helen of Troy *			10,160				961,339
Hibbett .			5,909				368,840
Hilton Grand Vacations *			40,711				1,597,500
Holley *			21,339				84,929
Hovnanian Enterprises, Cl A *			2,388				96,308
Inspirato *			1				2
Inspired Entertainment *			9,225				94,464
Installed Building Products			10,289				884,854

 

 

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

145

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Discretionary — continued
International Game Technology .			42,430			$	850,722
iRobot *			11,437				646,191
Jack in the Box .			9,030				796,717
JOANN .			4,717				24,953
Johnson Outdoors, Cl A			2,348				123,552
KB Home			33,714				971,637
Kontoor Brands			23,921				853,980
Krispy Kreme			33,425				479,649
Kura Sushi USA, Cl A *			2,090				165,173
Lands' End *			5,973				62,597
Landsea Homes *			4,344				21,112
Latham Group *			17,919				79,202
Laureate Education, Cl A			50,092				633,163
La-Z-Boy .			18,671				462,481
LCI Industries			10,564				1,120,946
Legacy Housing *			4,026				74,723
LGI Homes *			9,127				840,140
Life Time Group Holdings *			18,174				190,645
Lifetime Brands .			5,430				46,508
Light & Wonder *			43,714				2,454,104
Lindblad Expeditions Holdings *			12,659				106,209
Liquidity Services *			9,944				170,838
LL Flooring Holdings *			11,946				99,391
Lordstown Motors, Cl A *			1				2
Lovesac *			5,716				139,127
Lulu's Fashion Lounge Holdings *			13,842				86,651
Luminar Technologies, Cl A *			108,339				876,463
M/I Homes *			12,118				502,776
Malibu Boats, Cl A *			8,938				472,820
Marine Products			3,258				32,580
MarineMax *			9,105				294,183
MasterCraft Boat Holdings *			8,121				176,713
MDC Holdings .			24,274				739,386
Meritage Homes *			15,509				1,181,165
Modine Manufacturing *			20,464				366,715
Monarch Casino & Resort *			5,670				450,255
Monro .			14,176				676,904
Motorcar Parts of America *			7,602				144,438
Movado Group			6,868				227,125

 

 

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

146

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Discretionary — continued
Mullen Automotive *			1			$	—
Murphy USA .			9,752				3,067,102
National Vision Holdings *			34,948				1,294,474
Nerdy *			1				2
Noodles, Cl A *			16,833				97,968
ODP *			19,146				757,607
ONE Group Hospitality *			8,858				66,258
OneWater Marine, Cl A *			4,828				159,324
Overstock.com *			18,329				426,149
Oxford Industries .			6,844				696,240
Papa John's International .			14,040				1,019,725
Party City Holdco *			1				2
Patrick Industries .			9,683				442,610
Perdoceo Education *			28,812				329,321
PetMed Express .			8,924				190,260
PLBY Group *			12,116				43,860
Porch Group *			1				1
Portillo's, Cl A *			9,729				208,590
Poshmark, Cl A *			19,097				341,072
Purple Innovation, Cl A *			1				4
Quotient Technology *			1				2
Qurate Retail, Cl A			1				2
RCI Hospitality Holdings .			3,926				331,472
RealReal *			1				2
Red Rock Resorts, Cl A .			22,732				946,788
Rent the Runway, Cl A *			1				2
Rent-A-Center, Cl A			26,432				551,107
Revolve Group, Cl A *			17,135				411,240
Rocky Brands .			3,095				60,925
Rover Group, Cl A *			38,428				168,699
RumbleON, Cl B *			4,322				70,751
Rush Street Interactive *			22,740				94,371
Ruth's Hospitality Group .			14,388				298,983
Sally Beauty Holdings *			45,102				573,246
SeaWorld Entertainment *			20,666				1,201,935
Shake Shack, Cl A *			15,916				884,452
Shoe Carnival .			7,699				184,622
Signet Jewelers .			21,575				1,407,553
Skyline Champion *			23,266				1,354,314

 

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

147

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Discretionary — continued
Sleep Number *			9,394			$	260,590
Smith & Wesson Brands			20,208				228,148
Snap One Holdings *			7,602				90,616
Solid Power *			55,332				310,413
Solo Brands, Cl A *			6,993				28,881
Sonder Holdings *			1				2
Sonic Automotive, Cl A			9,075				424,256
Sonos *			54,265				874,752
Sportsman's Warehouse Holdings *			17,919				160,913
Standard Motor Products .			8,885				337,008
Steven Madden .			33,883				1,012,085
Stitch Fix, Cl A *			33,496				133,984
StoneMor *			1				3
Stoneridge *			11,478				239,546
Strategic Education .			10,155				700,695
Stride *			17,635				590,949
Sturm Ruger .			7,367				413,510
Superior Group .			5,445				54,014
Sweetgreen, Cl A *			37,005				688,293
Target Hospitality *			15,056				183,232
Taylor Morrison Home, Cl A *			50,113				1,319,976
Tenneco, Cl A *			36,968				728,270
Texas Roadhouse, Cl A			29,276				2,896,860
ThredUp, Cl A *			1				1
Tile Shop Holdings .			1				4
Tilly's, Cl A .			9,231				81,787
Topgolf Callaway Brands *			59,208				1,108,374
Torrid Holdings *			7,092				34,964
Traeger *			1				4
TravelCenters of America *			5,434				345,494
Tri Pointe Homes *			45,804				767,217
Tupperware Brands *			19,581				151,361
Udemy *			29,822				433,910
Unifi *			5,803				52,923
Universal Electronics *			5,558				113,439
Universal Technical Institute *			13,347				92,094
Urban Outfitters *			28,997				691,868
Vacasa, Cl A *			25,506				93,097
Vista Outdoor *			23,860				692,894

 

 

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

148

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Discretionary — continued
Visteon *			11,777			$	1,536,545
Vivid Seats, Cl A *			10,306				84,509
Vivint Smart Home *			38,180				292,077
Vizio Holding, Cl A *			28,081				314,507
Volta *			1				1
Vuzix *			24,435				122,175
Warby Parker, Cl A *			37,732				605,599
Weber, Cl A .			9,368				62,391
Weyco Group			2,368				61,165
Wingstop			12,761				2,021,215
Winmark .			1,459				367,143
Winnebago Industries			13,733				819,723
Wolverine World Wide .			34,427				589,735
Workhorse Group *			1				3
WW International *			21,890				98,943
Xometry, Cl A *			14,340				861,260
XPEL *			9,677				669,552
Xponential Fitness, Cl A *			9,106				176,201
Zumiez *			8,005				179,552
							106,674,407
Consumer Staples — 2.6%
22nd Century Group *			1				1
Alico			2,643				80,929
Andersons .			13,522				476,921
AppHarvest *			1				2
B&G Foods .			32,279				528,730
Beauty Health *			41,532				474,711
BellRing Brands *			55,801				1,351,500
Benson Hill *			1				3
Beyond Meat *			26,170				410,869
BRC, Cl A *			10,574				76,662
Calavo Growers .			7,487				258,975
Cal-Maine Foods .			17,056				963,835
Celsius Holdings *			24,235				2,207,324
Central Garden & Pet *			4,269				176,182
Central Garden & Pet, Cl A *			17,179				672,386
Chefs' Warehouse *			14,322				524,615
Coca-Cola Consolidated .			2,172				1,057,786
Duckhorn Portfolio *			15,692				229,417

 

 

 

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

149

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Staples — continued
Edgewell Personal Care			22,938			$	898,940
elf Beauty *			20,616				891,848
Energizer Holdings .			28,300				817,587
Fresh Del Monte Produce .			14,078				367,154
Hain Celestial Group *			31,202				583,789
Herbalife Nutrition *			46,417				986,825
HF Foods Group *			15,391				71,260
Honest *			44,677				147,881
Hostess Brands, Cl A *			58,519				1,549,583
Ingles Markets, Cl A			6,078				573,581
Inter Parfums			7,729				625,122
J & J Snack Foods			6,605				974,964
John B Sanfilippo & Son			3,901				325,382
Lancaster Colony .			8,175				1,473,789
Landec *			10,860				108,057
Local Bounti *			1				3
Medifast .			4,948				578,867
MGP Ingredients			6,108				684,401
Mission Produce *			16,777				279,169
National Beverage			10,114				479,606
Natural Grocers by Vitamin Cottage			4,396				50,554
Nature's Sunshine Products *			5,057				42,681
Nu Skin Enterprises, Cl A			21,193				809,361
PriceSmart			10,519				672,900
Primo Water			66,785				974,393
Rite Aid *			22,636				118,160
Seneca Foods, Cl A *			2,565				161,877
Simply Good Foods *			38,138				1,460,685
Sovos Brands *			18,538				256,937
SpartanNash .			15,328				547,363
Sprouts Farmers Market *			47,480				1,400,660
Tattooed Chef *			19,718				93,661
Thorne HealthTech *			3,565				17,326
Tootsie Roll Industries			6,741				272,269
TreeHouse Foods *			21,900				1,100,256
Turning Point Brands .			6,435				151,609
United Natural Foods *			24,548				1,041,081
Universal			10,273				519,917
USANA Health Sciences *			4,988				261,920

 

 

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

150

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Staples — continued
Utz Brands .			27,434			$	444,705
Vector Group .			59,017				626,761
Veru *			27,607				337,910
Village Super Market, Cl A			3,880				86,291
Vintage Wine Estates *			1				3
Vita Coco *			11,690				119,939
Vital Farms *			13,185				174,569
WD-40 .			5,745				920,119
Weis Markets			6,966				652,505
Whole Earth Brands *			15,714				54,213
							35,279,281
Energy — 4.9%
Aemetis *			11,573				85,640
Alto Ingredients *			29,322				121,100
Amplify Energy *			14,794				146,313
Arch Resources			6,466				984,707
Archaea Energy, Cl A *			25,423				656,168
Archrock .			55,759				418,750
Battalion Oil *			1,058				13,892
Berry			29,223				259,208
Brigham Minerals, Cl A			25,671				795,801
Bristow Group *			10,265				307,334
Cactus, Cl A			24,980				1,291,966
California Resources .			33,972				1,532,477
Callon Petroleum *			21,670				952,613
Centrus Energy, Cl A *			4,561				215,781
ChampionX .			88,429				2,530,838
Chord Energy .			18,021				2,758,835
Civitas Resources			31,869				2,227,962
Clean Energy Fuels *			77,361				519,092
CNX Resources *			83,943				1,411,082
Comstock Resources *			39,071				733,753
CONSOL Energy .			14,611				920,785
Crescent Energy, Cl A			13,170				181,483
CVR Energy .			12,664				494,656
Delek US Holdings .			31,089				922,100
Denbury *			21,348				1,951,421
DHT Holdings .			57,931				516,165
Diamond Offshore Drilling *			41,325				407,051

 

 

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

151

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Energy — continued
DMC Global *			8,306			$	179,742
Dorian LPG .			13,544				244,740
Dril-Quip *			14,976				372,603
Earthstone Energy, Cl A *			24,087				389,246
Empire Petroleum *			6,701				107,216
Energy Fuels *			63,904				460,109
Equitrans Midstream .			172,817				1,455,119
Excelerate Energy, Cl A			7,687				212,315
Expro Group Holdings *			35,114				664,708
Gevo *			1				2
Green Plains *			22,108				638,700
Gulfport Energy *			5,082				454,890
Helix Energy Solutions Group *			68,016				476,112
Helmerich & Payne			44,494				2,202,898
HighPeak Energy .			2,707				63,127
International Seaways			24,485				1,038,409
Kinetik Holdings, Cl A			8,446				310,644
Laredo Petroleum *			7,136				461,342
Liberty Energy, Cl A *			68,172				1,152,788
Magnolia Oil & Gas, Cl A .			70,545				1,811,596
Matador Resources			48,409				3,216,778
Murphy Oil			65,220				3,163,822
Nabors Industries *			3,823				665,317
NACCO Industries, Cl A .			1,669				94,399
National Energy Services Reunited *			15,747				119,047
Newpark Resources *			1				4
NextDecade *			12,755				89,285
NexTier Oilfield Solutions *			71,676				722,494
Noble *			31,737				1,143,801
Nordic American Tankers .			1				3
Northern Oil and Gas .			29,481				1,006,481
Oceaneering International *			41,098				574,961
Oil States International *			24,978				161,608
Par Pacific Holdings *			22,553				516,013
Patterson-UTI Energy			98,463				1,737,872
PBF Energy, Cl A *			42,021				1,859,429
Peabody Energy *			54,491				1,302,335
Permian Resources, Cl A *			90,733				886,461
ProFrac Holding, Cl A *			5,817				127,450

 

 

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

152

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Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Energy — continued
ProPetro Holding *			35,838			$	424,322
Ranger Oil, Cl A .			9,177				375,339
REX American Resources *			6,930				207,831
Riley Exploration Permian			4,819				140,088
Ring Energy *			1				3
RPC .			28,543				317,684
SandRidge Energy *			13,171				248,800
Select Energy Services, Cl A *			27,457				264,960
SilverBow Resources *			4,886				173,306
Sitio Royalties .			4,947				140,297
SM Energy .			52,252				2,350,295
Solaris Oilfield Infrastructure, Cl A			13,032				177,496
Talos Energy *			28,186				599,798
Tellurian *			1				3
TETRA Technologies *			50,669				250,305
Tidewater *			19,500				661,050
Uranium Energy *			143,298				603,285
Ur-Energy *			1				1
US Silica Holdings *			31,528				453,688
VAALCO Energy			24,202				124,640
Valaris *			25,745				1,723,113
Vertex Energy *			22,440				191,413
W&T Offshore *			38,553				292,617
Weatherford International *			29,969				1,249,108
World Fuel Services .			26,591				677,805
							65,088,086
Financials — 13.4%
1st Source			7,125				414,390
ACNB			3,437				125,760
AFC Gamma ‡			6,892				118,060
Alerus Financial			6,611				147,425
Amalgamated Financial			6,281				144,400
A-Mark Precious Metals			7,890				239,935
Ambac Financial Group *			18,835				264,632
Amerant Bancorp, Cl A .			12,075				363,457
American Equity Investment Life Holding			34,467				1,484,838
American National Bankshares .			4,657				170,306
Ameris Bancorp			28,158				1,450,419
AMERISAFE .			8,161				476,684

 

 

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

153

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
Angel Oak Mortgage ‡			4,141			$	42,777
Apollo Commercial Real Estate Finance ‡			59,731				672,571
Arbor Realty Trust ‡			70,167				966,200
Ares Commercial Real Estate ‡			24,708				304,897
Argo Group International Holdings .			13,559				337,212
ARMOUR Residential ‡			54,609				290,520
Arrow Financial			6,184				215,327
Artisan Partners Asset Management, Cl A			25,508				727,233
AssetMark Financial Holdings *			8,478				175,579
Associated Banc-Corp			62,987				1,533,733
Associated Capital Group, Cl A			880				35,464
Atlantic Union Bankshares .			31,853				1,100,203
Atlanticus Holdings *			2,185				62,404
Axos Financial *			24,244				944,546
B Riley Financial .			8,636				351,312
Bakkt Holdings *			1				2
Banc of California			23,480				391,646
BancFirst			8,220				787,640
Bancorp *			23,756				655,190
Bank First			2,896				249,490
Bank of Marin Bancorp .			6,821				246,238
BankUnited .			35,625				1,280,719
Bankwell Financial Group .			2,292				70,227
Banner .			14,563				1,088,584
Bar Harbor Bankshares			6,519				195,635
BayCom .			5,376				103,380
BCB Bancorp .			5,981				117,527
Berkshire Hills Bancorp .			20,596				602,433
BGC Partners, Cl A .			152,639				604,450
Blackstone Mortgage Trust, Cl A ‡			72,523				1,810,174
Blucora *			20,685				455,691
Blue Foundry Bancorp *			11,233				138,278
Blue Ridge Bankshares			7,059				92,120
Bread Financial Holdings .			21,269				768,024
Bridgewater Bancshares *			9,415				180,015
Bright Health Group *			1				1
Brightsphere Investment Group			13,958				262,690
BrightSpire Capital, Cl A ‡			36,112				277,340
Broadmark Realty Capital ‡			53,214				309,705

 

 

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

154

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
Brookline Bancorp .			31,324			$	430,705
BRP Group, Cl A *			26,646				755,414
Business First Bancshares			8,710				215,834
Byline Bancorp			10,705				247,500
Cadence Bank			77,433				2,141,022
Cambridge Bancorp .			2,951				259,245
Camden National .			6,318				274,959
Cannae Holdings *			34,932				809,025
Capital Bancorp .			3,894				96,104
Capital City Bank Group .			5,960				211,103
Capitol Federal Financial			53,587				438,342
Capstar Financial Holdings			8,958				158,377
Carter Bankshares *			10,520				188,308
Cathay General Bancorp			30,682				1,399,099
Central Pacific Financial			11,758				241,274
Chicago Atlantic Real Estate Finance .			2,715				40,236
Chimera Investment ‡			99,791				673,589
Citizens & Northern .			6,685				158,969
City Holding			6,342				639,591
Civista Bancshares .			6,568				155,662
Claros Mortgage Trust ‡			38,046				608,736
CNB Financial			7,089				180,202
CNO Financial Group .			50,217				1,107,787
Coastal Financial *			4,561				212,634
Cohen & Steers			12,303				740,148
Colony Bankcorp .			6,722				92,764
Columbia Banking System .			33,242				1,112,610
Columbia Financial *			16,328				335,377
Community Bank System .			22,603				1,411,105
Community Trust Bancorp			6,796				321,383
Compass Diversified Holdings			25,835				549,769
ConnectOne Bancorp .			15,994				400,650
Consumer Portfolio Services *			5,964				38,289
Cowen, Cl A .			11,487				443,628
Crawford, Cl A			6,686				40,049
CrossFirst Bankshares *			18,835				261,995
Curo Group Holdings .			8,858				45,796
Customers Bancorp *			13,062				440,059
CVB Financial			57,783				1,659,528

 

 

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

155

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
Diamond Hill Investment Group .			1,276			$	229,616
Dime Community Bancshares			14,395				497,059
Donegal Group, Cl A			6,720				98,381
Donnelley Financial Solutions *			12,474				504,324
Dynex Capital ‡			21,195				253,068
Eagle Bancorp .			13,508				611,642
Eastern Bankshares .			71,290				1,366,629
eHealth *			10,147				27,194
Ellington Financial ‡			23,603				315,808
Employers Holdings			11,959				521,532
Enact Holdings .			12,603				323,141
Encore Capital Group *			10,437				531,452
Enova International *			14,981				561,638
Enstar Group *			5,200				1,042,704
Enterprise Bancorp			4,159				130,094
Enterprise Financial Services .			14,928				798,200
Equity Bancshares, Cl A .			6,268				223,893
Esquire Financial Holdings			2,831				127,905
Essent Group .			45,348				1,794,874
EZCORP, Cl A *			20,634				199,324
Farmers & Merchants Bancorp .			4,995				146,154
Farmers National Banc			13,032				179,060
FB Financial			15,114				634,183
Federal Agricultural Mortgage, Cl C .			3,950				455,040
Federated Hermes, Cl B			38,726				1,345,729
Finance of America, Cl A *			1				2
Financial Institutions			6,762				161,138
First Bancorp			4,511				137,856
First Bancorp			14,869				662,711
First Bancshares			8,758				286,737
First Bank			6,516				102,432
First Busey .			21,721				573,652
First Business Financial Services .			3,314				126,429
First Commonwealth Financial .			38,756				555,761
First Community Bankshares			7,213				268,612
First Financial			5,012				243,032
First Financial Bancorp .			39,444				1,028,305
First Financial Bankshares			56,049				2,157,326
First Foundation			21,500				343,140

 

 

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

156

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
First Guaranty Bancshares .			2,585			$	59,636
First Internet Bancorp			4,137				106,280
First Interstate BancSystem, Cl A			42,437				1,935,552
First Merchants			24,293				1,090,756
First Mid Bancshares			7,805				279,497
First of Long Island			9,890				173,866
First Western Financial *			3,278				90,506
FirstCash Holdings			16,665				1,640,669
Five Star Bancorp .			5,503				159,642
Flagstar Bancorp			22,121				856,083
Flushing Financial			12,626				248,732
Focus Financial Partners, Cl A *			26,737				930,180
Franklin BSP Realty Trust ‡			34,794				490,247
Fulton Financial			71,035				1,294,968
FVCBankcorp *			4,948				100,543
GCM Grosvenor .			18,122				149,869
Genworth Financial, Cl A *			230,453				1,076,216
German American Bancorp			11,618				456,471
Glacier Bancorp			47,932				2,745,545
Goosehead Insurance, Cl A *			8,190				339,967
Granite Point Mortgage Trust ‡			22,093				173,651
Great Southern Bancorp .			4,301				266,576
Green Dot, Cl A *			22,238				423,189
Greene County Bancorp .			1,479				98,501
Greenlight Capital Re, Cl A *			10,860				91,658
Guaranty Bancshares			3,591				132,975
Hamilton Lane, Cl A .			14,927				892,933
Hancock Whitney			36,552				2,042,160
Hanmi Financial .			13,221				354,058
Hannon Armstrong Sustainable Infrastructure
Capital ‡			38,854				1,056,052
HarborOne Bancorp .			19,208				292,538
HBT Financial .			4,838				98,647
HCI Group .			2,957				108,344
Heartland Financial USA			17,268				851,658
Heritage Commerce .			24,249				346,761
Heritage Financial			14,909				502,284
Hilltop Holdings .			26,220				759,069
Hingham Institution For Savings The .			621				153,542

 

 

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

157

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
Hippo Holdings *			7,508			$	129,738
Home Bancorp			3,282				140,306
Home BancShares			85,272				2,173,583
Home Point Capital			1				2
HomeStreet			8,313				215,805
HomeTrust Bancshares			6,564				157,733
Hope Bancorp			48,432				657,222
Horace Mann Educators .			17,694				698,205
Horizon Bancorp			18,124				270,229
Houlihan Lokey, Cl A			21,513				1,921,541
Independent Bank .			8,963				207,314
Independent Bank .			21,216				1,846,004
Independent Bank Group			15,784				995,813
International Bancshares			22,917				1,136,683
Invesco Mortgage Capital ‡			24,251				283,979
Investors Title			596				87,582
Jackson Financial, Cl A .			35,595				1,365,424
James River Group Holdings .			15,808				399,468
John Marshall Bancorp			4,789				137,923
Kearny Financial			26,640				270,130
Kinsale Capital Group			9,577				3,018,383
KKR Real Estate Finance Trust ‡			26,071				454,157
Ladder Capital, Cl A ‡			46,885				500,263
Lakeland Bancorp .			28,522				531,935
Lakeland Financial			10,321				853,031
Lemonade *			19,863				480,685
LendingClub *			42,768				455,052
LendingTree *			4,894				123,476
Live Oak Bancshares			13,811				448,443
Luther Burbank			6,346				80,150
Macatawa Bank .			10,860				116,528
MarketWise *			1				2
MBIA *			19,905				214,178
Mercantile Bank .			6,846				239,268
Merchants Bancorp .			6,715				160,824
Mercury General			11,468				332,572
Metrocity Bankshares			8,352				185,832
Metropolitan Bank Holding *			4,418				291,588
MFA Financial ‡			44,422				442,443

 

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

158

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
Mid Penn Bancorp .			6,345			$	216,872
Midland States Bancorp			9,259				259,622
MidWestOne Financial Group			6,321				212,386
Moelis, Cl A .			27,034				1,147,864
Moneylion *			1				1
Mr Cooper Group *			30,724				1,213,291
MVB Financial .			4,562				112,955
National Bank Holdings, Cl A			12,368				541,966
National Western Life Group, Cl A			1,132				224,159
Navient .			59,581				902,056
NBT Bancorp .			17,849				845,864
Nelnet, Cl A			6,939				618,196
NerdWallet, Cl A *			10,558				123,951
New York Mortgage Trust ‡			1				3
Nexpoint Real Estate Finance ‡			3,263				57,331
NI Holdings *			4,022				54,619
Nicolet Bankshares *			5,193				396,174
NMI Holdings, Cl A *			35,934				788,033
Northeast Bank .			2,772				116,701
Northfield Bancorp			18,276				293,147
Northwest Bancshares .			54,150				815,499
OceanFirst Financial .			24,963				563,665
Old National Bancorp			124,281				2,430,936
Old Second Bancorp .			17,707				283,312
Open Lending, Cl A *			42,897				307,571
Oportun Financial *			9,538				52,459
Oppenheimer Holdings, Cl A .			4,139				142,464
OppFi *			1				2
Orchid Island Capital, Cl A ‡			24,079				242,476
Origin Bancorp .			9,658				399,165
Orrstown Financial Services .			4,899				129,677
Oscar Health, Cl A *			48,925				182,490
Pacific Premier Bancorp			39,781				1,448,426
Palomar Holdings *			10,391				924,383
Park National			6,156				908,010
Parke Bancorp .			4,251				91,652
Pathward Financial			12,570				528,317
PCB Bancorp			4,859				89,892
PCSB Financial .			5,648				110,080

 

 

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

159

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
Peapack-Gladstone Financial .			7,668			$	303,423
PennyMac Financial Services .			12,726				678,550
PennyMac Mortgage Investment Trust ‡			40,947				567,935
Peoples Bancorp .			11,943				361,515
Peoples Financial Services			3,065				168,544
Perella Weinberg Partners, Cl A .			19,276				151,895
Pioneer Bancorp *			4,887				50,385
Piper Sandler .			7,400				946,978
PJT Partners .			10,112				752,333
PRA Group *			17,980				602,330
Preferred Bank			5,793				445,308
Premier Financial			15,476				446,483
Primis Financial			9,604				123,796
ProAssurance			23,090				512,829
Professional Holding, Cl A *			5,398				146,124
PROG Holdings *			23,836				393,771
Provident Bancorp .			6,346				78,437
Provident Financial Services			31,866				714,436
QCR Holdings .			7,044				357,201
Radian Group .			75,251				1,570,488
RBB Bancorp .			6,395				143,951
Ready Capital ‡			36,647				444,162
Red River Bancshares .			1,971				112,189
Redwood Trust ‡			47,751				340,465
Regional Management			3,423				116,245
Renasant			23,256				938,845
Republic Bancorp, Cl A			4,109				190,452
Republic First Bancorp *			1				3
RLI .			16,714				2,173,990
Root, Cl A *			19,169				163,512
S&T Bancorp			16,572				626,587
Safety Insurance Group .			6,202				539,264
Sandy Spring Bancorp			18,777				665,457
Sculptor Capital Management, Cl A			9,741				103,352
Seacoast Banking Corp of Florida .			26,808				828,367
Selective Insurance Group .			25,779				2,528,404
Selectquote *			1				1
ServisFirst Bancshares .			21,738				1,637,524
Shore Bancshares			7,300				145,562

 

 

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

160

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
Sierra Bancorp			6,202			$	136,754
Silvercrest Asset Management Group, Cl A			4,027				76,473
Silvergate Capital, Cl A *			13,178				747,983
Simmons First National, Cl A .			52,706				1,258,092
SmartFinancial			6,435				188,159
South Plains Financial			4,784				149,596
Southern First Bancshares *			3,392				151,555
Southern Missouri Bancorp .			3,441				176,351
Southside Bancshares			13,245				453,509
SouthState .			32,149				2,907,234
Stellar Bancorp .			19,901				653,549
StepStone Group, Cl A .			23,922				706,177
Sterling Bancorp *			7,108				45,278
Stewart Information Services .			11,360				442,586
Stock Yards Bancorp .			12,049				942,111
StoneX Group *			7,360				686,835
Summit Financial Group			4,937				143,519
Sunlight Financial Holdings *			1				1
SWK Holdings *			1,528				28,421
Texas Capital Bancshares *			21,466				1,287,960
Third Coast Bancshares *			5,446				105,652
Tiptree			9,699				118,134
Tompkins Financial			6,121				507,064
Towne Bank .			28,623				942,842
TPG RE Finance Trust ‡			29,673				251,330
Trean Insurance Group *			7,739				28,402
TriCo Bancshares			13,270				768,466
Triumph Bancorp *			10,156				523,034
Trupanion *			16,518				833,663
TrustCo Bank NY .			8,177				305,166
Trustmark			26,079				953,709
Two Harbors Investment ‡			141,926				505,257
UMB Financial .			19,104				1,589,835
United Bankshares .			55,843				2,364,951
United Community Banks .			44,966				1,731,191
United Fire Group			9,153				248,046
Unity Bancorp .			2,864				82,082
Universal Insurance Holdings .			11,233				112,779
Univest Financial .			12,532				352,650

 

 

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

161

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
USCB Financial Holdings *			4,444			$	59,683
Valley National Bancorp			186,436				2,212,995
Value Line .			400				21,440
Velocity Financial *			3,631				35,257
Veritex Holdings .			22,047				696,244
Victory Capital Holdings, Cl A			6,759				195,470
Virtus Investment Partners			3,088				529,561
Walker & Dunlop			12,993				1,168,850
Washington Federal			27,603				1,068,236
Washington Trust Bancorp			7,398				358,803
Waterstone Financial .			9,316				158,186
WesBanco .			25,436				1,028,632
West BanCorp			7,091				159,335
Westamerica BanCorp			11,168				700,569
WisdomTree Investments .			55,743				302,684
World Acceptance *			1,811				147,089
WSFS Financial			27,342				1,273,044
							180,312,676
Health Care — 12.3%
1Life Healthcare *			76,207				1,303,140
23andMe Holding, Cl A *			1				3
2seventy bio *			15,596				247,664
4D Molecular Therapeutics *			11,743				101,694
Aadi Bioscience *			6,012				77,645
Absci *			22,466				70,993
ACADIA Pharmaceuticals *			50,825				814,725
Accolade *			30,766				331,658
Aclaris Therapeutics *			29,447				459,668
AdaptHealth, Cl A *			30,631				698,387
Adaptive Biotechnologies *			46,172				359,218
Addus HomeCare *			6,644				680,479
Adicet Bio *			11,833				195,126
ADMA Biologics *			1				3
Aerie Pharmaceuticals *			22,338				339,984
Aerovate Therapeutics *			4,920				95,989
Agenus *			1				3
Agiliti *			11,565				202,041
Agios Pharmaceuticals *			23,277				641,049
AirSculpt Technologies .			3,395				23,018

 

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

162

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Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Health Care — continued
Akero Therapeutics *			12,039			$	508,768
Akoya Biosciences *			5,770				79,338
Albireo Pharma *			7,526				154,434
Alector *			26,855				247,066
Alignment Healthcare *			40,576				537,226
Alkermes *			68,930				1,564,711
Allogene Therapeutics *			38,828				399,928
Allovir *			12,116				83,964
Allscripts Healthcare Solutions *			50,685				745,070
Alpha Teknova *			2,715				12,462
Alphatec Holdings *			29,152				298,517
Alpine Immune Sciences *			5,397				31,896
ALX Oncology Holdings *			7,569				91,888
American Well, Cl A *			95,028				388,665
Amicus Therapeutics *			126,348				1,263,480
AMN Healthcare Services *			19,671				2,468,711
Amneal Pharmaceuticals *			1				2
Amphastar Pharmaceuticals *			16,004				494,524
Amylyx Pharmaceuticals *			14,885				530,948
AN2 Therapeutics *			1,836				26,475
AnaptysBio *			8,602				248,168
Anavex Life Sciences *			32,172				391,533
AngioDynamics *			16,160				227,694
ANI Pharmaceuticals *			5,495				212,052
Anika Therapeutics *			6,482				184,218
Apellis Pharmaceuticals *			40,146				2,428,432
Apollo Medical Holdings *			16,551				586,898
Arbutus Biopharma *			1				2
Arcellx *			13,232				310,687
Arcturus Therapeutics Holdings *			9,549				169,017
Arcus Biosciences *			21,543				548,916
Arcutis Biotherapeutics *			18,931				334,700
Arrowhead Pharmaceuticals *			44,774				1,558,583
Artivion *			16,495				184,084
Arvinas *			20,622				1,025,120
Atara Biotherapeutics *			36,348				169,382
Atea Pharmaceuticals *			27,967				167,802
Athira Pharma *			1				3
ATI Physical Therapy *			1				1

 

 

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

163

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Health Care — continued
AtriCure *			20,237			$	852,382
Atrion .			591				354,783
Aura Biosciences *			7,757				96,109
Avanos Medical *			20,339				450,509
Aveanna Healthcare Holdings *			1				1
Avid Bioservices *			27,782				470,627
Avidity Biosciences *			23,844				340,492
Axogen *			15,917				181,772
Axonics *			21,400				1,565,196
Axsome Therapeutics *			13,368				603,565
Beam Therapeutics *			27,153				1,196,361
Berkeley Lights *			20,941				46,489
BioCryst Pharmaceuticals *			84,528				1,128,449
Biohaven *			13,190				218,558
BioLife Solutions *			14,458				340,052
Bionano Genomics *			1				2
Bioventus, Cl A *			11,913				96,972
Bioxcel Therapeutics *			7,229				91,013
Bluebird Bio *			28,203				176,833
Blueprint Medicines *			26,739				1,386,150
Bridgebio Pharma *			43,643				455,197
Brookdale Senior Living *			76,393				341,477
Butterfly Network *			71,416				349,938
C4 Therapeutics *			16,257				156,392
Cano Health *			67,051				240,043
Cara Therapeutics *			18,462				173,543
Cardiovascular Systems *			17,260				249,234
CareDx *			21,596				429,976
CareMax *			24,709				173,951
Caribou Biosciences *			21,517				209,576
Cassava Sciences *			16,475				600,349
Castle Biosciences *			10,264				261,937
Catalyst Pharmaceuticals *			39,842				552,609
Celldex Therapeutics *			19,529				686,054
Celularity *			1				2
Century Therapeutics *			7,399				77,690
Cerevel Therapeutics Holdings *			22,647				633,210
Cerus *			69,844				255,629
Chimerix *			1				2

 

 

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

164

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Health Care — continued
Chinook Therapeutics *			22,795			$	495,791
CinCor Pharma *			8,884				298,858
Clover Health Investments, Cl A *			1				2
Codexis *			24,978				140,376
Cogent Biosciences *			27,999				382,186
Coherus Biosciences *			41,842				364,025
Collegium Pharmaceutical *			15,029				269,620
Community Health Systems *			1				3
Computer Programs and Systems *			6,264				202,327
CONMED .			12,787				1,019,508
Corcept Therapeutics *			36,864				1,054,310
CorVel *			3,801				624,162
Crinetics Pharmaceuticals *			22,094				407,855
Cross Country Healthcare *			15,769				584,872
CryoPort *			18,540				514,670
CTI BioPharma *			38,396				188,140
Cue Health *			1				4
Cullinan Oncology *			13,067				171,700
Cutera *			7,348				337,788
Cytek Biosciences *			47,580				738,442
Cytokinetics *			35,563				1,552,681
Day One Biopharmaceuticals *			13,431				283,931
Deciphera Pharmaceuticals *			21,215				344,107
Denali Therapeutics *			41,707				1,196,157
Design Therapeutics *			14,133				220,757
DICE Therapeutics *			11,807				419,267
DocGo *			37,175				368,033
Dynavax Technologies *			54,687				626,166
Dyne Therapeutics *			12,659				144,313
Eagle Pharmaceuticals *			4,884				153,700
Edgewise Therapeutics *			14,557				138,437
Editas Medicine, Cl A *			28,236				354,362
Eiger BioPharmaceuticals *			14,222				72,674
Embecta .			24,359				753,180
Emergent BioSolutions *			21,036				438,811
Enanta Pharmaceuticals *			8,484				382,713
Enochian Biosciences *			1				2
Ensign Group			24,061				2,160,197
EQRx *			91,641				471,035

 

 

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

165

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Health Care — continued
Erasca *			26,607			$	217,379
Esperion Therapeutics *			24,402				198,388
Evolent Health, Cl A *			34,688				1,103,425
Evolus *			13,915				119,112
EyePoint Pharmaceuticals *			10,487				56,630
Fate Therapeutics *			36,790				769,647
FibroGen *			39,282				639,511
Figs, Cl A *			52,803				389,686
Foghorn Therapeutics *			8,145				71,187
Fulcrum Therapeutics *			12,253				68,127
Fulgent Genetics *			8,972				355,560
Gelesis Holdings *			1				—
Generation Bio *			18,259				93,486
Geron *			1				2
Glaukos *			19,317				1,083,104
Gossamer Bio *			25,521				283,283
GreenLight Biosciences Holdings PBC *			1				2
Haemonetics *			22,036				1,871,958
Halozyme Therapeutics *			58,049				2,775,323
Harmony Biosciences Holdings *			11,013				572,676
Health Catalyst *			22,694				200,161
HealthEquity *			35,797				2,788,944
HealthStream *			10,872				268,538
Heron Therapeutics *			1				4
Heska *			4,135				296,728
HilleVax *			5,407				115,602
Hims & Hers Health *			50,188				227,854
Humacyte *			7,258				25,004
Icosavax *			9,604				32,942
Ideaya Biosciences *			14,960				252,674
IGM Biosciences *			4,241				84,820
Imago Biosciences *			11,091				188,547
ImmunityBio *			30,309				166,700
ImmunoGen *			88,542				525,940
Immunovant *			16,663				186,626
Inari Medical *			21,958				1,689,229
Inhibrx *			13,525				435,235
Innovage Holding *			13,867				85,837
Innoviva *			26,438				358,499

 

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

166

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Health Care — continued
Inogen *			9,588			$	217,264
Inotiv *			7,778				161,627
Inovio Pharmaceuticals *			1				2
Insmed *			50,281				870,867
Inspire Medical Systems *			12,033				2,345,833
Instil Bio *			24,133				79,639
Integer Holdings *			13,976				871,124
Intellia Therapeutics *			33,795				1,783,700
Intercept Pharmaceuticals *			10,861				150,642
Intra-Cellular Therapies *			40,880				1,866,990
Invitae *			1				3
Invivyd *			37,880				149,626
Iovance Biotherapeutics *			62,340				582,256
iRadimed			2,967				86,191
iRhythm Technologies *			13,312				1,697,147
Ironwood Pharmaceuticals, Cl A *			59,286				648,589
iTeos Therapeutics *			10,236				199,397
IVERIC bio *			51,985				1,243,481
Janux Therapeutics *			7,432				134,371
Joint *			6,430				106,224
Jounce Therapeutics *			1				2
KalVista Pharmaceuticals *			9,401				47,663
Karuna Therapeutics *			12,772				2,801,410
Karyopharm Therapeutics *			30,205				143,776
Keros Therapeutics *			8,470				426,380
Kezar Life Sciences *			26,195				196,855
Kiniksa Pharmaceuticals, Cl A *			15,634				178,540
Kinnate Biopharma *			11,200				94,416
Kodiak Sciences *			13,932				100,032
Kronos Bio *			16,460				48,722
Krystal Biotech *			9,549				730,499
Kura Oncology *			29,306				454,829
Kymera Therapeutics *			15,759				478,128
Lantheus Holdings *			29,507				2,183,223
LeMaitre Vascular			8,265				358,701
Lexicon Pharmaceuticals *			1				2
LHC Group *			12,728				2,126,849
LifeStance Health Group *			29,695				224,197
Ligand Pharmaceuticals *			6,385				559,645

 

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

167

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Health Care — continued
Liquidia *			19,771			$	96,680
LivaNova *			23,490				1,106,379
Lyell Immunopharma *			85,252				501,282
MacroGenics *			44,563				228,163
Madrigal Pharmaceuticals *			5,270				373,221
MannKind *			102,986				348,093
MaxCyte *			39,398				272,634
Medpace Holdings *			10,717				2,378,960
MeiraGTx Holdings *			12,489				90,795
Meridian Bioscience *			18,244				583,261
Merit Medical Systems *			23,645				1,626,067
Mersana Therapeutics *			42,996				337,949
Mesa Laboratories			2,172				287,160
MiMedx Group *			1				3
Mirum Pharmaceuticals *			9,212				207,731
ModivCare *			5,421				527,138
Monte Rosa Therapeutics *			11,946				109,903
Morphic Holding *			10,727				300,463
Multiplan *			1				3
Myriad Genetics *			33,799				700,991
NanoString Technologies *			19,749				206,575
National HealthCare			5,324				324,338
National Research .			6,216				253,178
Nautilus Biotechnology, Cl A *			1				2
Nektar Therapeutics, Cl A *			75,029				282,109
Neogen *			45,593				601,828
NeoGenomics *			63,547				483,275
Nevro *			14,732				564,825
NextGen Healthcare *			24,006				481,080
NGM Biopharmaceuticals *			21,169				113,042
Nkarta *			13,491				170,122
Nurix Therapeutics *			23,065				293,617
Nutex Health *			1				1
Nuvalent, Cl A *			7,432				265,397
NuVasive *			21,949				968,609
Nuvation Bio *			1				2
Ocugen *			1				2
Ocular Therapeutix *			31,494				113,693
Omnicell *			19,067				1,474,260

 

 

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

168

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Health Care — continued
Oncology Institute *			7,752			$	35,194
OPKO Health *			1				2
OptimizeRx *			7,556				116,476
Option Care Health *			67,472				2,041,703
OraSure Technologies *			39,618				172,734
Organogenesis Holdings, Cl A *			1				3
Orthofix Medical *			8,400				134,904
OrthoPediatrics *			6,113				259,741
Outlook Therapeutics *			1				1
Outset Medical *			20,197				313,861
Owens & Minor			30,992				526,864
Owlet *			1				1
P3 Health Partners *			10,506				52,005
Pacific Biosciences of California *			111,603				941,929
Pacira BioSciences *			19,697				1,019,517
Paragon 28 *			19,140				382,226
Pardes Biosciences, Cl A *			1				1
Patterson .			38,373				996,547
Pear Therapeutics *			1				3
Pediatrix Medical Group *			35,983				698,070
Pennant Group *			11,372				139,989
PepGen *			3,404				41,801
PetIQ, Cl A *			12,030				98,887
Phathom Pharmaceuticals *			8,485				89,941
Phibro Animal Health, Cl A .			8,983				131,960
Phreesia *			21,326				582,626
PMV Pharmaceuticals *			15,492				190,707
Point Biopharma Global, Cl A *			30,704				286,468
Praxis Precision Medicines *			1				2
Precigen *			1				2
Prestige Consumer Healthcare *			21,271				1,158,844
Privia Health Group *			19,928				667,189
PROCEPT BioRobotics *			10,926				496,368
Progyny *			34,468				1,532,792
Prometheus Biosciences *			12,789				671,678
Protagonist Therapeutics *			18,632				150,919
Provention Bio *			22,806				158,274
PTC Therapeutics *			30,525				1,154,456
Pulmonx *			14,391				192,264

 

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

169

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Health Care — continued
Quanterix *			13,935			$	154,260
Quantum-Si *			1				3
R1 RCM *			64,374				1,136,845
RadNet *			20,928				400,143
Rallybio *			7,262				69,425
RAPT Therapeutics *			10,985				239,693
Reata Pharmaceuticals, Cl A *			11,896				383,051
Recursion Pharmaceuticals, Cl A *			66,042				696,743
REGENXBIO *			17,074				404,142
Relay Therapeutics *			32,072				712,640
Relmada Therapeutics *			11,749				75,076
Replimune Group *			17,969				329,911
Revance Therapeutics *			31,618				705,398
REVOLUTION Medicines *			32,197				652,311
Rigel Pharmaceuticals *			1				1
Rocket Pharmaceuticals *			18,353				342,467
RxSight *			8,580				106,735
Sage Therapeutics *			24,928				938,788
Sana Biotechnology *			36,008				208,846
Sangamo Therapeutics *			48,870				214,539
Schrodinger *			22,538				540,236
Science 37 Holdings *			1				1
SeaSpine Holdings *			13,542				87,075
Seer, Cl A *			18,566				145,372
Select Medical Holdings			46,452				1,192,887
Sema4 Holdings *			1				1
Senseonics Holdings *			1				1
Seres Therapeutics *			50,102				443,904
Sharecare *			1				2
Shockwave Medical *			15,416				4,519,200
SI-BONE *			13,575				263,898
SIGA Technologies .			19,751				181,512
Sight Sciences *			9,061				70,948
Silk Road Medical *			14,762				650,709
Simulations Plus .			6,704				278,216
Singular Genomics Systems *			1				3
SomaLogic *			62,018				215,202
Sorrento Therapeutics *			1				2
SpringWorks Therapeutics *			14,513				348,457

 

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

170

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Health Care — continued
STAAR Surgical *			20,858			$	1,478,206
Stoke Therapeutics *			9,461				140,496
Supernus Pharmaceuticals *			20,967				718,539
Surgery Partners *			16,625				452,034
Surmodics *			5,882				200,811
Sutro Biopharma *			17,919				131,346
Syndax Pharmaceuticals *			23,923				549,272
Tactile Systems Technology *			8,145				60,599
Talaris Therapeutics *			1				2
Tango Therapeutics *			19,290				155,092
Tarsus Pharmaceuticals *			7,698				141,797
Tenaya Therapeutics *			11,776				31,560
Tenon Medical *			1				2
TG Therapeutics *			53,927				313,855
Theravance Biopharma *			25,318				252,420
Theseus Pharmaceuticals *			5,567				29,950
TransMedics Group *			13,240				638,433
Travere Therapeutics *			29,936				649,012
Treace Medical Concepts *			13,977				342,157
Tricida *			13,775				4,577
Twist Bioscience *			24,734				812,017
Tyra Biosciences *			5,057				34,994
UFP Technologies *			2,989				280,518
US Physical Therapy			5,518				489,998
Utah Medical Products .			1,629				145,877
Vanda Pharmaceuticals *			22,806				238,779
Varex Imaging *			16,527				365,412
Vaxart *			1				2
Vaxcyte *			24,312				1,060,246
VBI Vaccines *			1				1
Ventyx Biosciences *			11,410				369,342
Vera Therapeutics, Cl A *			6,191				115,400
Veracyte *			29,981				602,918
Vericel *			19,860				533,837
Verve Therapeutics *			19,653				740,918
Vicarious Surgical *			42,061				162,776
ViewRay *			1				4
Vir Biotechnology *			32,244				708,723
Viridian Therapeutics *			10,612				211,179

 

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

171

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Health Care — continued
VistaGen Therapeutics *			1			$	—
Xencor *			24,210				677,880
Xeris Biopharma Holdings *			1				2
Y-mAbs Therapeutics *			17,930				64,727
Zentalis Pharmaceuticals *			20,477				513,768
Zimvie *			8,673				76,062
Zynex			9,231				105,233
							165,002,546
Industrials — 11.3%
3D Systems *			53,869				475,663
AAON .			18,585				1,198,547
AAR *			14,389				637,720
ABM Industries .			28,404				1,264,262
ACCO Brands			38,553				177,344
ACV Auctions, Cl A *			46,706				425,959
Aerojet Rocketdyne Holdings *			33,573				1,626,612
AeroVironment *			10,824				990,396
AerSale *			6,516				138,139
Air Transport Services Group *			25,039				731,139
Alamo Group			4,344				660,636
Albany International, Cl A .			13,378				1,225,692
Alight, Cl A *			140,481				1,164,587
Allegiant Travel *			6,589				494,504
Allied Motion Technologies			5,587				188,952
Alta Equipment Group .			7,942				97,131
Altra Industrial Motion			27,529				1,655,594
Ameresco, Cl A *			13,484				815,512
American Woodmark *			7,051				319,763
API Group *			87,353				1,440,451
Apogee Enterprises .			10,237				469,674
Applied Industrial Technologies			16,255				2,021,797
ArcBest .			10,591				841,243
Archer Aviation, Cl A *			1				3
Arcosa			20,460				1,313,532
Argan			6,449				223,587
Aris Water Solution, Cl A .			9,049				154,104
Array Technologies *			68,835				1,245,913
ASGN *			21,442				1,817,853
Astec Industries .			9,714				424,016

 

 

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

172

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — continued
Astra Space *			1			$	1
Astronics *			10,317				95,535
Atkore *			18,653				1,777,631
Atlas Air Worldwide Holdings *			12,125				1,226,322
Atlas Technical Consultants *			6,313				47,853
AZZ			10,430				419,286
Babcock & Wilcox Enterprises *			23,316				106,321
Barnes Group			20,826				736,616
Barrett Business Services			3,154				275,092
Beacon Roofing Supply *			23,442				1,320,957
Berkshire Grey *			1				1
Bird Global, Cl A *			1				—
Blade Air Mobility *			23,195				104,377
Blink Charging *			15,870				234,876
Bloom Energy, Cl A *			75,523				1,413,035
Blue Bird *			7,059				64,731
BlueLinx Holdings *			3,990				281,135
Boise Cascade			16,737				1,117,529
Brady, Cl A			19,942				912,346
BrightView Holdings *			19,038				169,819
Brink's			20,167				1,202,558
Cadre Holdings			9,385				275,637
Caesarstone .			9,231				81,971
Casella Waste Systems, Cl A *			21,682				1,773,804
CBIZ *			20,852				1,035,093
Chart Industries *			15,705				3,500,330
CIRCOR International *			8,213				169,763
Columbus McKinnon			11,970				341,384
Comfort Systems USA .			15,126				1,864,733
CompX International			1,017				18,133
Concrete Pumping Holdings *			10,860				69,558
Construction Partners, Cl A *			17,136				533,615
CoreCivic *			49,413				517,354
Covenant Logistics Group, Cl A			5,292				200,249
CRA International .			3,063				314,693
CSW Industrials			6,341				817,482
Custom Truck One Source *			24,435				169,335
Daseke *			16,833				100,325
Deluxe .			18,431				338,762

 

 

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

173

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — continued
Desktop Metal, Cl A *			1			$	3
Distribution Solutions Group *			2,337				70,297
Douglas Dynamics .			9,782				332,099
Ducommun *			4,748				224,153
DXP Enterprises *			7,228				206,793
Dycom Industries *			12,463				1,472,877
Eagle Bulk Shipping .			5,582				270,057
EMCOR Group			22,142				3,124,236
Encore Wire			8,230				1,132,366
Energy Recovery *			23,354				600,898
Energy Vault Holdings *			32,190				103,652
Enerpac Tool Group, Cl A			25,913				658,449
EnerSys			17,531				1,162,130
Eneti .			9,437				77,572
Ennis			11,172				252,040
Enovix *			46,116				870,209
EnPro Industries .			8,852				942,738
ESCO Technologies .			10,845				934,514
ESS Tech *			53,701				227,155
Evoqua Water Technologies *			52,814				2,069,253
Exponent			21,925				2,088,575
Fathom Digital Manufacturing C *			1				3
Federal Signal			25,536				1,191,254
First Advantage *			25,204				354,116
Fluence Energy, Cl A *			14,867				221,964
Fluor *			61,708				1,867,284
Forrester Research *			5,000				211,600
Forward Air .			11,341				1,200,672
Franklin Covey *			5,441				275,315
Franklin Electric .			19,640				1,609,302
Frontier Group Holdings *			14,815				194,225
FTC Solar *			1				2
FuelCell Energy *			152,430				475,582
GATX .			15,006				1,571,278
Genco Shipping & Trading .			15,434				206,816
GEO Group *			48,700				412,002
Gibraltar Industries *			14,069				718,645
Global Industrial .			5,678				180,220
GMS *			18,301				863,807

 

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

174

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — continued
Gorman-Rupp			9,825			$	266,650
GrafTech International			82,229				418,546
Granite Construction .			19,436				655,576
Great Lakes Dredge & Dock *			28,107				212,489
Greenbrier .			13,618				480,852
Griffon .			21,335				685,707
H&E Equipment Services			13,743				518,936
Harsco *			32,410				171,449
Hawaiian Holdings *			21,780				314,285
Healthcare Services Group .			31,957				446,120
Heartland Express .			19,378				288,345
Heidrick & Struggles International			8,472				238,572
Heliogen *			1				2
Helios Technologies .			13,672				775,066
Herc Holdings			11,033				1,297,591
Heritage-Crystal Clean *			6,926				190,257
Hillenbrand			30,914				1,365,781
Hillman Solutions *			55,672				434,798
HireRight Holdings *			9,061				121,961
HNI			18,406				533,590
Hub Group, Cl A *			14,237				1,104,791
Hudson Technologies *			17,779				163,745
Huron Consulting Group *			9,216				678,574
Hydrofarm Holdings Group *			1				3
Hyliion Holdings *			1				3
Hyster-Yale Materials Handling .			4,533				132,182
Hyzon Motors *			1				2
ICF International			7,884				943,163
IES Holdings *			4,002				132,226
Insperity .			15,314				1,807,358
Insteel Industries			8,043				211,933
Interface, Cl A			23,892				270,219
Janus International Group *			33,735				324,868
JELD-WEN Holding *			38,292				406,278
Joby Aviation *			103,978				501,174
John Bean Technologies .			13,339				1,216,517
Kadant			4,946				880,141
Kaman			11,908				382,247
KAR Auction Services *			51,286				745,186

 

 

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

175

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — continued
Karat Packaging *			2,468			$	40,426
Kelly Services, Cl A			15,165				247,796
Kennametal			35,331				943,691
Kforce			8,608				544,628
Kimball International, Cl B			14,661				108,345
Korn Ferry			23,748				1,320,151
Kratos Defense & Security Solutions *			52,299				579,473
Legalzoom.com *			40,603				375,578
Lightning eMotors *			1				2
Lindsay .			4,619				781,997
Manitowoc *			14,118				128,756
Markforged Holding *			1				2
Marten Transport .			25,386				476,495
Masonite International *			9,960				712,439
Matson .			17,367				1,277,864
Matthews International, Cl A .			13,233				355,703
Maxar Technologies .			30,899				690,284
McGrath RentCorp			10,231				962,226
Microvast Holdings *			1				2
Miller Industries .			4,955				126,006
MillerKnoll			31,746				672,380
Momentus *			1				1
Montrose Environmental Group *			11,449				501,237
Moog, Cl A			12,323				1,044,374
MRC Global *			35,535				356,416
Mueller Industries .			23,737				1,486,886
Mueller Water Products, Cl A			66,100				773,370
MYR Group *			7,137				624,559
National Presto Industries			2,302				162,268
Nikola *			133,305				505,226
NL Industries			3,258				28,540
Northwest Pipe *			4,289				145,783
NOW *			45,442				578,477
NuScale Power *			14,378				162,184
NV5 Global *			5,743				832,448
Omega Flex .			1,329				125,458
PAM Transportation Services *			3,245				90,373
Park Aerospace .			8,145				101,324
Parsons *			14,330				671,790

 

 

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

176

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — continued
PGT Innovations *			24,789			$	528,254
Pitney Bowes			1				3
Planet Labs PBC *			64,369				337,937
Powell Industries .			4,181				103,145
Preformed Line Products .			1,339				106,276
Primoris Services .			22,811				460,554
Proterra *			91,471				570,779
Proto Labs *			11,886				453,926
Quad *			1				3
Quanex Building Products .			14,485				320,988
Radiant Logistics *			15,950				96,817
RBC Bearings *			12,358				3,133,124
Red Violet *			3,900				68,016
Redwire *			1				3
Resideo Technologies *			61,217				1,445,946
Resources Connection .			13,731				250,865
REV Group .			14,491				199,106
Rocket Lab USA *			88,202				448,948
Rush Enterprises, Cl A			17,974				896,723
Rush Enterprises, Cl B .			2,921				156,624
Saia *			11,463				2,279,532
Sarcos Technology and Robotics *			1				2
Shoals Technologies Group, Cl A *			47,322				1,093,611
Shyft Group			14,946				343,459
Simpson Manufacturing .			18,444				1,576,593
Skillsoft *			1				2
SkyWest *			21,369				377,804
SP Plus *			9,931				367,745
Spire Global *			1				1
Spirit Airlines *			46,200				1,016,400
SPX Technologies *			18,620				1,225,941
Standex International			5,121				507,235
Steelcase, Cl A			35,295				274,242
Stem *			67,907				923,535
Sterling Check *			9,977				194,851
Sterling Construction *			12,237				330,277
Sun Country Airlines Holdings *			14,033				228,457
SunPower, Cl A *			34,459				637,147
Tennant .			7,922				461,457

 

 

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

177

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — continued
Terex			28,963			$	1,174,160
Terran Orbital *			1				3
Thermon Group Holdings *			13,575				241,092
Titan International *			21,947				328,327
Titan Machinery *			8,585				295,152
TPI Composites *			15,204				151,432
Transcat *			3,071				254,156
TriNet Group *			16,734				1,087,375
Trinity Industries			34,936				996,724
Triumph Group *			26,421				239,110
TrueBlue *			14,853				292,010
TuSimple Holdings, Cl A *			57,877				198,518
Tutor Perini *			17,003				126,162
UFP Industries .			25,555				1,820,283
UniFirst			6,336				1,165,887
Universal Logistics Holdings			3,432				109,824
Upwork *			50,296				676,481
V2X *			5,145				210,894
Velo3D *			32,650				128,641
Veritiv *			6,132				712,906
Viad *			8,779				327,281
Vicor *			9,204				439,675
View *			1				1
Virgin Galactic Holdings *			94,537				436,761
VSE .			4,679				216,591
Wabash National			21,091				456,620
Watts Water Technologies, Cl A .			11,689				1,710,802
Werner Enterprises			27,539				1,079,529
Wheels Up Experience *			1				2
Willdan Group *			5,110				70,620
Xos *			1				1
Zurn Elkay Water Solutions .			56,541				1,328,148
							151,786,357
Information Technology — 9.3%
8x8 *			46,188				195,375
908 Devices *			11,175				178,688
A10 Networks			28,192				473,626
ACI Worldwide *			49,474				1,203,702
ACM Research, Cl A *			19,835				126,944

 

 

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

178

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
Adeia .			44,483			$	497,320
ADTRAN Holdings .			32,362				726,851
Advanced Energy Industries .			15,914				1,251,636
Aeva Technologies *			1				2
AEye *			1				1
Agilysys *			8,973				575,797
Akoustis Technologies *			1				3
Alarm.com Holdings *			20,349				1,197,335
Alkami Technology *			15,049				238,527
Alpha & Omega Semiconductor *			9,427				308,734
Altair Engineering, Cl A *			22,018				1,079,983
Ambarella *			15,666				857,400
American Software, Cl A			17,436				298,679
Amkor Technology			43,240				898,960
Amplitude, Cl A *			25,695				431,676
Appfolio, Cl A *			8,044				1,008,476
Appian, Cl A *			16,787				819,541
Applied Blockchain *			1				2
Arlo Technologies *			34,752				178,973
Arteris *			3,702				20,509
Asana, Cl A *			31,159				641,875
Atomera *			8,145				73,386
Avaya Holdings *			1				2
AvePoint *			53,334				233,070
Aviat Networks *			4,839				158,042
Avid Technology *			15,484				425,655
AvidXchange Holdings *			60,636				551,788
Axcelis Technologies *			14,044				814,552
AXT *			16,833				76,422
Badger Meter			12,397				1,394,415
Belden			18,711				1,302,847
Benchmark Electronics			15,071				427,866
Benefitfocus *			10,317				72,735
BigCommerce Holdings *			26,674				396,376
Blackbaud *			20,102				1,099,579
Blackline *			23,352				1,307,712
Blend Labs, Cl A *			1				3
Box, Cl A *			59,752				1,735,796
Brightcove *			16,833				112,781

 

 

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

179

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
BTRS Holdings, Cl 1 *			39,606			$	373,881
C3.ai, Cl A *			28,826				377,909
Calix *			24,020				1,768,833
Cambium Networks *			4,514				87,346
Cantaloupe *			23,892				80,038
Casa Systems *			13,542				42,657
Cass Information Systems .			6,008				257,022
Cepton *			1				2
Cerberus Cyber Sentinel *			1				3
Cerence *			16,880				290,336
CEVA *			9,734				269,242
ChannelAdvisor *			12,946				298,276
Cipher Mining *			1				1
Cleanspark *			16,290				56,689
Clear Secure, Cl A *			26,476				715,382
Clearfield *			5,014				609,051
Cohu *			20,449				673,181
CommScope Holding *			95,899				1,269,703
CommVault Systems *			18,783				1,143,697
CompoSecure *			3,243				17,318
Comtech Telecommunications .			10,690				118,124
Conduent *			69,488				286,291
Consensus Cloud Solutions *			6,914				388,152
Core Scientific *			1				—
Corsair Gaming *			21,337				294,451
Couchbase *			11,134				142,515
Credo Technology Group Holding *			40,708				559,328
CS Disco *			9,381				100,564
CSG Systems International .			13,634				881,711
CTS .			13,645				539,250
Cvent Holding, Cl A *			34,758				203,334
CyberOptics *			2,900				156,513
Cyxtera Technologies *			17,618				42,636
Diebold Nixdorf *			1				2
Digi International *			14,962				603,417
Digimarc *			5,918				96,700
Digital Turbine *			42,333				618,062
DigitalOcean Holdings *			32,291				1,159,893
Diodes *			18,796				1,347,109

 

 

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

180

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
Domo, Cl B *			12,523			$	221,281
Duck Creek Technologies *			31,954				381,531
DZS *			7,059				112,168
E2open Parent Holdings *			81,823				477,028
Eastman Kodak *			19,992				106,957
Ebix .			11,454				226,675
Edgio *			1				3
eGain *			8,688				69,938
Enfusion, Cl A *			13,916				197,190
EngageSmart *			14,523				285,232
Envestnet *			23,278				1,147,838
ePlus *			11,340				552,485
Everbridge *			16,849				527,879
EverCommerce *			11,639				101,376
Evo Payments, Cl A *			20,350				685,591
Evolv Technologies Holdings *			1				3
ExlService Holdings *			13,755				2,501,347
Extreme Networks *			62,219				1,116,209
FARO Technologies *			7,967				232,716
Fastly, Cl A *			46,200				392,238
Flywire *			24,027				527,393
Focus Universal *			7,274				74,049
ForgeRock, Cl A *			14,973				337,791
FormFactor *			33,006				667,051
Greenidge Generation Holdings *			1				1
Grid Dynamics Holdings *			20,111				273,711
Hackett Group .			11,006				240,371
Harmonic *			41,650				643,493
I3 Verticals, Cl A *			9,502				206,764
IBEX Holdings *			2,842				54,652
Ichor Holdings *			12,094				307,671
Identiv *			8,858				106,739
Impinj *			8,826				1,011,724
Infinera *			75,987				426,287
Information Services Group			14,756				80,125
Inseego *			1				2
Insight Enterprises *			14,260				1,347,713
Instructure Holdings *			7,265				171,599
Intapp *			6,294				141,363

 

 

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

181

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
InterDigital			13,103			$	653,447
International Money Express *			13,983				377,960
IonQ *			49,121				289,323
IronNet *			1				1
Itron *			19,185				937,955
Kimball Electronics *			10,579				218,668
KnowBe4, Cl A *			32,445				797,498
Knowles *			37,612				517,165
Latch *			1				1
Lightwave Logic *			46,256				391,788
LivePerson *			28,760				303,993
LiveRamp Holdings *			28,167				517,146
LiveVox Holdings *			1				3
MACOM Technology Solutions Holdings *			21,405				1,238,707
Marathon Digital Holdings *			50,182				657,886
Marqeta, Cl A *			183,127				1,443,041
Matterport *			90,675				316,456
Maximus .			25,901				1,597,315
MaxLinear, Cl A *			31,854				983,652
MeridianLink *			10,014				180,252
Methode Electronics			15,615				643,806
MicroStrategy, Cl A *			3,985				1,066,027
MicroVision *			67,875				248,423
Mirion Technologies *			56,698				458,120
Mitek Systems *			17,749				200,741
Model N *			15,547				590,786
Momentive Global *			54,673				424,262
MoneyGram International *			42,296				447,915
N-able *			28,175				305,135
Napco Security Technologies *			12,717				361,417
NETGEAR *			12,489				245,409
NetScout Systems *			29,782				1,069,769
NextNav *			1				3
nLight *			17,919				192,988
Novanta *			15,381				2,174,873
Olo, Cl A *			37,285				328,481
ON24 *			17,331				141,074
Ondas Holdings *			14,198				56,792
OneSpan *			19,473				214,008

 

 

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

182

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
Onto Innovation *			22,633			$	1,512,790
OSI Systems *			7,017				576,657
Ouster *			1				1
PagerDuty *			37,549				936,472
PAR Technology *			11,047				317,933
Paya Holdings *			35,465				285,139
Payoneer Global *			89,642				694,726
Paysafe *			1				1
PC Connection			4,792				254,647
PDF Solutions *			13,056				307,860
Perficient *			14,328				959,546
PFSweb *			6,766				64,751
Photronics *			25,435				412,556
Plexus *			11,862				1,167,221
Power Integrations .			24,647				1,644,201
PowerSchool Holdings, Cl A *			25,754				515,080
Priority Technology Holdings *			5,567				28,559
Progress Software .			18,658				952,118
PROS Holdings *			17,272				430,936
Q2 Holdings *			23,691				735,369
Qualys *			16,646				2,373,054
Rackspace Technology *			22,976				118,326
Rambus *			47,807				1,441,859
Rapid7 *			24,578				1,112,646
Remitly Global *			43,081				500,601
Repay Holdings, Cl A *			35,838				218,253
Ribbon Communications *			1				3
Rigetti Computing *			1				2
Rimini Street *			18,972				106,433
Riot Blockchain *			59,089				407,123
Rockley Photonics Holdings *			1				1
Rogers *			8,120				1,910,880
Sabre *			134,946				784,036
Sanmina *			26,208				1,468,958
ScanSource *			10,823				335,297
SecureWorks, Cl A *			3,801				31,092
Semtech *			27,230				753,999
ShotSpotter *			3,947				149,986
Silicon Laboratories *			15,745				1,809,415

 

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

183

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
SiTime *			6,813			$	611,876
SkyWater Technology *			8,716				70,687
SMART Global Holdings *			20,931				283,196
SmartRent, Cl A *			1				3
SolarWinds *			19,934				185,984
Sprout Social, Cl A *			19,368				1,168,471
SPS Commerce *			15,677				1,983,454
Squarespace, Cl A *			13,044				289,707
Sumo Logic *			49,874				384,529
Super Micro Computer *			19,224				1,337,798
Synaptics *			17,187				1,522,768
Telos *			31,762				336,677
Tenable Holdings *			47,669				1,937,268
Terawulf *			1				1
Transphorm *			8,855				61,100
TTEC Holdings .			7,923				352,336
TTM Technologies *			42,387				648,945
Tucows, Cl A *			4,255				191,262
Turtle Beach *			6,960				54,288
Ultra Clean Holdings *			19,048				592,583
Unisys *			27,150				230,775
Upland Software *			11,946				96,046
UserTesting *			31,788				235,231
Varonis Systems, Cl B *			46,106				1,234,258
Veeco Instruments *			21,434				390,742
Velodyne Lidar *			1				1
Verint Systems *			27,182				963,058
Veritone *			12,286				91,039
Verra Mobility, Cl A *			63,779				1,088,708
Viant Technology, Cl A *			5,227				23,835
Viavi Solutions *			96,702				1,460,200
Vishay Intertechnology			56,286				1,176,940
Vishay Precision Group *			5,452				184,005
Weave Communications *			18,813				103,472
WM Technology *			1				2
Workiva, Cl A *			21,809				1,696,958
Xerox Holdings .			51,039				746,701
Xperi *			17,793				248,568
Yext *			47,751				254,035

 

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

184

---

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
Zeta Global Holdings, Cl A *			46,142			$	384,824
Zuora, Cl A *			55,764				428,825
							124,178,414
Materials — 3.1%
5E Advanced Materials *			13,320				178,222
AdvanSix .			11,582				421,353
Alpha Metallurgical Resources .			7,727				1,304,704
American Vanguard			12,698				295,482
Amyris *			1				3
Arconic *			45,175				937,833
Aspen Aerogels *			12,014				152,337
ATI *			53,429				1,590,047
Avient .			38,385				1,323,899
Balchem .			13,587				1,899,463
Cabot .			23,685				1,740,374
Carpenter Technology .			20,324				760,118
Century Aluminum *			21,177				152,686
Chase .			3,301				310,987
Clearwater Paper *			7,291				324,304
Coeur Mining *			1				4
Commercial Metals			52,333				2,381,151
Compass Minerals International			14,620				578,075
Constellium, Cl A *			52,714				580,908
Cryptyde *			1				1
Dakota Gold *			40,385				139,328
Danimer Scientific *			1				3
Diversey Holdings *			32,386				174,884
Ecovyst *			35,883				357,036
FutureFuel			10,690				73,120
Glatfelter .			1				3
Greif, Cl A			10,921				723,079
Greif, Cl B			2,562				181,415
Hawkins .			8,416				378,972
Haynes International .			5,345				261,424
HB Fuller .			23,073				1,608,419
Hecla Mining			219,389				1,002,608
Hycroft Mining Holding *			1				1
Ingevity *			16,683				1,122,265
Innospec			10,490				1,048,895

 

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

185

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Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Materials — continued
Intrepid Potash *			4,844			$	219,191
Ivanhoe Electric *			6,126				64,078
Kaiser Aluminum			6,753				545,575
Koppers Holdings			8,967				223,816
Kronos Worldwide			9,880				93,860
Livent *			70,048				2,211,415
LSB Industries *			13,152				231,870
Materion			8,618				738,649
Mativ Holdings			23,562				559,362
Minerals Technologies			14,092				775,201
Myers Industries .			15,525				315,002
O-I Glass *			65,709				1,071,714
Olympic Steel			4,186				113,901
Origin Materials *			44,035				250,119
Pactiv Evergreen			17,919				195,496
Perimeter Solutions *			50,496				403,463
Piedmont Lithium *			7,418				461,548
PureCycle Technologies *			43,998				363,863
Quaker Chemical .			5,708				928,349
Ramaco Resources .			9,303				105,031
Ranpak Holdings, Cl A *			16,427				62,423
Rayonier Advanced Materials *			33,362				151,797
Resolute Forest Products *			19,096				397,388
Ryerson Holding .			9,456				317,249
Schnitzer Steel Industries, Cl A .			11,153				301,019
Sensient Technologies .			17,919				1,280,492
Stepan .			9,106				951,031
Summit Materials, Cl A *			50,210				1,323,033
SunCoke Energy .			34,209				248,357
Sylvamo .			15,129				728,764
TimkenSteel *			19,789				345,120
Tredegar			10,860				118,265
TriMas .			18,403				420,509
Trinseo			16,171				304,338
Tronox Holdings, Cl A			48,978				587,736
United States Lime & Minerals			1,086				136,999
Valhi .			1,238				33,822
Warrior Met Coal .			21,950				815,223

 

 

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

186

---

 

Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Materials — continued
Worthington Industries .			13,943			$	663,129
							41,061,600
Real Estate — 4.8%
Acadia Realty Trust ‡			38,945				544,062
Agree Realty ‡			33,626				2,310,106
Alexander & Baldwin ‡			30,799				599,964
Alexander's ‡			1,086				255,091
American Assets Trust ‡			21,171				581,779
American Realty Investors *			597				10,585
Anywhere Real Estate *			47,614				353,772
Apartment Investment and Management, Cl A ‡			62,105				493,114
Apple Hospitality REIT ‡			90,827				1,554,958
Armada Hoffler Properties ‡			27,523				321,744
Ashford Hospitality Trust ‡ *			23,790				193,175
Bluerock Homes Trust ‡ *			1,492				37,748
Braemar Hotels & Resorts ‡			25,066				123,575
Brandywine Realty Trust ‡			69,877				458,393
Broadstone Net Lease, Cl A ‡			70,666				1,211,215
BRT Apartments ‡			5,263				116,628
CareTrust ‡			41,140				768,495
CBL & Associates Properties ‡			11,017				316,518
Centerspace ‡			6,501				450,519
Chatham Lodging Trust ‡ *			19,548				253,538
City Office REIT ‡			17,733				188,324
Clipper Realty ‡			4,887				34,649
Community Healthcare Trust ‡			10,279				355,653
Compass, Cl A *			1				3
Corporate Office Properties Trust ‡			47,823				1,274,483
CTO Realty Growth ‡			7,736				155,494
Cushman & Wakefield *			66,227				764,922
DiamondRock Hospitality ‡			88,446				826,086
DigitalBridge Group			68,715				879,552
Diversified Healthcare Trust ‡			1				1
Doma Holdings *			1				1
Douglas Elliman .			30,205				139,547
Easterly Government Properties, Cl A ‡			38,190				664,124
Elme Communities ‡			37,148				709,155
Empire State Realty Trust, Cl A ‡			58,337				429,944
Equity Commonwealth ‡			45,930				1,201,529

 

 

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

187

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Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Real Estate — continued
Essential Properties Realty Trust ‡			60,242			$	1,296,408
eXp World Holdings			30,921				408,466
Farmland Partners ‡			23,223				325,354
Forestar Group *			7,939				91,934
Four Corners Property Trust ‡			35,985				921,936
Franklin Street Properties ‡			1				3
FRP Holdings *			2,952				178,980
Getty Realty ‡			17,672				556,491
Gladstone Commercial ‡			16,181				284,624
Gladstone Land ‡			13,603				276,821
Global Medical ‡			24,978				228,299
Global Net Lease ‡			43,514				533,046
Hersha Hospitality Trust, Cl A ‡			13,405				122,656
Independence Realty Trust ‡			96,351				1,614,843
Indus Realty Trust ‡			2,498				129,371
Industrial Logistics Properties Trust ‡			28,107				131,541
Innovative Industrial Properties, Cl A ‡			12,176				1,316,226
InvenTrust Properties ‡			28,792				725,558
iStar ‡			28,662				300,378
Kennedy-Wilson Holdings			50,313				835,699
Kite Realty Group Trust ‡			94,557				1,857,099
LTC Properties ‡			17,920				692,966
LXP Industrial Trust ‡			118,423				1,146,335
Macerich ‡			90,490				1,007,154
Marcus & Millichap .			11,849				436,517
National Health Investors ‡			18,564				1,052,579
Necessity Retail REIT ‡			52,589				359,709
NETSTREIT ‡			26,555				499,765
Newmark Group, Cl A			66,614				545,569
NexPoint Residential Trust ‡			9,520				434,112
Offerpad Solutions *			1				1
Office Properties Income Trust ‡			20,542				314,293
One Liberty Properties ‡			7,069				159,335
Orion Office REIT ‡			23,633				221,441
Outfront Media ‡			61,713				1,113,920
Paramount Group ‡			76,766				496,676
Pebblebrook Hotel Trust ‡			55,112				883,996
Phillips Edison ‡			50,697				1,528,008
Physicians Realty Trust ‡			101,740				1,532,204

 

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

188

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Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Real Estate — continued
Piedmont Office Realty Trust, Cl A ‡			50,702			$	529,836
Plymouth Industrial REIT ‡			15,729				290,043
Postal Realty Trust, Cl A ‡			7,059				110,685
PotlatchDeltic ‡			33,652				1,497,177
RE/MAX Holdings, Cl A			8,170				158,988
Redfin *			42,897				206,335
Retail Opportunity Investments ‡			50,759				734,990
RLJ Lodging Trust ‡			69,770				849,101
RMR Group, Cl A .			6,799				186,089
RPT Realty ‡			34,582				321,613
Ryman Hospitality Properties ‡			23,319				2,073,525
Sabra Health Care ‡			101,067				1,380,575
Safehold ‡			9,000				263,250
Saul Centers ‡			5,174				211,875
Seritage Growth Properties ‡ *			20,964				224,944
Service Properties Trust ‡			67,705				549,088
SITE Centers ‡			86,001				1,064,692
St. Joe .			14,349				509,820
STAG Industrial ‡			77,928				2,461,745
Stratus Properties .			2,367				69,968
Summit Hotel Properties ‡			42,897				370,630
Sunstone Hotel Investors ‡			91,604				1,021,385
Tanger Factory Outlet Centers ‡			43,379				781,256
Tejon Ranch *			9,310				157,711
Terreno Realty ‡			32,251				1,842,822
Transcontinental Realty Investors *			700				28,763
UMH Properties ‡			20,689				362,885
Uniti Group ‡			100,452				779,507
Universal Health Realty Income Trust ‡			5,622				273,623
Urban Edge Properties ‡			48,989				691,725
Urstadt Biddle Properties, Cl A ‡			12,950				242,683
Veris Residential ‡ *			37,541				594,274
Whitestone, Cl B ‡			19,005				178,837
Xenia Hotels & Resorts ‡			48,455				827,611
							64,986,810
Utilities — 2.4%
ALLETE .			24,205				1,362,015
Altus Power, Cl A *			17,423				173,533
American States Water .			15,662				1,416,785

 

 

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

189

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Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Utilities — continued
Artesian Resources, Cl A .			3,576			$	186,953
Avista			30,615				1,256,133
Black Hills .			28,909				1,889,781
California Water Service Group .			24,613				1,527,483
Chesapeake Utilities			7,318				910,213
Clearway Energy, Cl A .			14,893				481,491
Clearway Energy, Cl C .			34,810				1,209,299
Global Water Resources			5,430				69,287
MGE Energy .			15,354				1,045,454
Middlesex Water .			7,359				658,410
Montauk Renewables *			26,583				397,948
New Jersey Resources .			40,706				1,817,116
Northwest Natural Holding			15,526				746,645
NorthWestern			24,505				1,294,599
ONE Gas			22,954				1,778,476
Ormat Technologies .			19,685				1,780,508
Otter Tail .			17,444				1,176,075
PNM Resources .			36,120				1,678,496
Portland General Electric			37,907				1,703,541
Pure Cycle *			8,145				70,291
SJW Group			11,636				822,432
South Jersey Industries			55,155				1,912,224
Southwest Gas Holdings			28,984				2,117,861
Spire .			22,221				1,551,248
Sunnova Energy International *			42,044				779,496
Unitil			6,757				356,161
Via Renewables, Cl A			4,887				34,160
York Water .			5,886				256,394
							32,460,508
TOTAL UNITED STATES							992,381,412
TOTAL COMMON STOCK
(Cost $1,018,203,356)							1,018,113,938

 

 

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

190

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Schedule of Investments		October 31, 2022
Global X Russell 2000 Covered Call ETF

 

		Shares				Value
EXCHANGE TRADED FUND(A) — 33.1%#
Vanguard Russell 2000 ETF
(Cost $440,225,995)		$	5,995,801			$	444,049,022
TOTAL INVESTMENTS — 108.9%
(Cost $1,458,429,351)						$	1,462,162,960
WRITTEN OPTIONS— (9.1)%
(Premiums Received  $(59,618,614))						$	(121,998,240	)

 

Percentages are based on Net Assets of $1,342,241,164.

A list of the exchange traded option contracts held by the Fund at October 31, 2022, is as follows:

Description		Number of Contracts				Notional Amount				Exercise Price			Expiration Date		Value
WRITTEN OPTIONS — (9.1)%
Call Options
Russell 2000 Index			(7,904	)		$	(1,347,632,000	)		$	1,705.00		11/18/22		$	(121,998,240	)

 

* Non-income producing security.

‡ Real Estate Investment Trust

# For financial information on the Vanguard Russell 2000 ETF, please go to the Securities Exchange Commission’s website at http://www.sec.gov.

(A) All or a portion of these securities has been segregated as collateral for options contracts. The aggregate market value of collateral at October 31, 2022 was $1,462,162,960.

 

 

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

191

---

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

Investments in Securities		Level 1				Level 2				Level 3				Total
Common Stock		$	1,018,113,938			$	—			$	—			$	1,018,113,938
Exchange Traded Fund			444,049,022				—				—				444,049,022
Total Investments in Securities		$	1,462,162,960			$	—			$	—			$	1,462,162,960

Other Financial Instruments		Level 1				Level 2				Level 3				Total
Written Options		$	(121,998,240	)		$	–			$	–			$	(121,998,240	)
Total Other Financial Instruments		$	(121,998,240	)		$	–			$	–			$	(121,998,240	)

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.

192

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Schedule of Investments		October 31, 2022
Global X Dow 30® Covered Call ETF

 

		Shares				Value
COMMON STOCK — 107.6%(A)
UNITED STATES — 107.6%
Communication Services — 3.1%
Verizon Communications			11,475			$	428,821
Walt Disney *			11,475				1,222,546
							1,651,367
Consumer Discretionary — 14.3%
Home Depot .			11,475				3,398,092
McDonald's .			11,475				3,128,773
NIKE, Cl B			11,475				1,063,503
							7,590,368
Consumer Staples — 8.1%
Coca-Cola .			11,475				686,779
Procter & Gamble .			11,475				1,545,338
Walgreens Boots Alliance			11,475				418,837
Walmart			11,475				1,633,237
							4,284,191
Energy — 3.9%
Chevron .			11,475				2,075,828

 

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

193

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Schedule of Investments		October 31, 2022
Global X Dow 30® Covered Call ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — 17.4%
American Express .			11,475			$	1,703,464
Goldman Sachs Group			11,475				3,953,252
JPMorgan Chase .			11,475				1,444,473
Travelers .			11,475				2,116,678
							9,217,867
Health Care — 23.9%
Amgen .			11,475				3,102,266
Johnson & Johnson .			11,475				1,996,306
Merck .			11,475				1,161,270
UnitedHealth Group			11,475				6,370,346
							12,630,188
Industrials — 14.9%
3M			11,475				1,443,440
Boeing *			11,475				1,635,302
Caterpillar .			11,475				2,483,879
Honeywell International .			11,475				2,341,130
							7,903,751
Information Technology — 21.0%
Apple .			11,475				1,759,577
Cisco Systems			11,475				521,309
Intel .			11,475				326,234
International Business Machines .			11,475				1,586,878
Microsoft			11,475				2,663,692
Salesforce *			11,475				1,865,720
Visa, Cl A .			11,475				2,377,161
							11,100,571
Materials — 1.0%
Dow			11,475				536,342
TOTAL UNITED STATES							56,990,473
TOTAL COMMON STOCK
(Cost $55,076,188)							56,990,473
TOTAL INVESTMENTS — 107.6%
(Cost $55,076,188)						$	56,990,473

 

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

194

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Schedule of Investments		October 31, 2022
Global X Dow 30® Covered Call ETF

 

		Value
WRITTEN OPTIONS— (7.7)%
(Premiums Received  $(1,800,086))		$	(4,086,998	)

Percentages are based on Net Assets of $52,984,590

A list of the exchange traded option contracts held by the Fund at October 31, 2022, is as follows:

Description		Number of Contracts				Notional Amount				Exercise Price			Expiration Date		Value
WRITTEN OPTIONS — (7.7)%
Call Options
Dow Jones Industrial Average			(1,741	)		$	(53,100,500	)		$	305.00		11/18/22		$	(4,086,998	)

* Non-income producing security.

(A) All or a portion of these securities has been segregated as collateral for options contracts. The aggregate market value of collateral at October 31, 2022 was $56,990,473.

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

Investments in Securities		Level 1				Level 2				Level 3				Total
Common Stock		$	56,990,473			$	—			$	—			$	56,990,473
Total Investments in Securities		$	56,990,473			$	—			$	—			$	56,990,473

Other Financial Instruments		Level 1				Level 2				Level 3				Total
Written Options		$	(4,086,998	)		$	–			$	–			$	(4,086,998	)
Total Other Financial Instruments		$	(4,086,998	)		$	–			$	–			$	(4,086,998	)

 

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.

195

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Schedule of Investments	October 31, 2022
Global X Nasdaq 100® Covered Call & Growth ETF

 

		Shares				Value
COMMON STOCK — 102.3%(A)
BRAZIL — 0.5%
Consumer Discretionary — 0.5%
MercadoLibre *			297			$	267,781
CHINA — 1.0%
Communication Services — 0.2%
Baidu ADR *			1,066				81,624
NetEase ADR .			950				52,839
							134,463
Consumer Discretionary — 0.4%
JD.com ADR .			3,013				112,355
Pinduoduo ADR *			2,798				153,414
							265,769
Information Technology — 0.4%
NXP Semiconductors .			1,543				225,401
TOTAL CHINA							625,633

 

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

196

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Schedule of Investments	October 31, 2022
Global X Nasdaq 100® Covered Call & Growth ETF

 

		Shares				Value
COMMON STOCK — continued
NETHERLANDS — 0.4%
Information Technology — 0.4%
ASML Holding .			506			$	239,045
UNITED KINGDOM — 0.3%
Health Care — 0.3%
AstraZeneca ADR .			3,454				203,130
UNITED STATES — 100.1%
Communication Services — 15.0%
Activision Blizzard .			4,678				340,558
Alphabet, Cl A *			21,625				2,043,779
Alphabet, Cl C *			22,226				2,103,913
Charter Communications, Cl A *			965				354,753
Comcast, Cl A			26,347				836,254
Electronic Arts			1,661				209,219
Match Group *			1,685				72,792
Meta Platforms, Cl A *			12,316				1,147,359
Netflix *			2,661				776,693
Sirius XM Holdings .			23,435				141,547
T-Mobile US *			7,503				1,137,155
							9,164,022
Consumer Discretionary — 15.0%
Airbnb, Cl A *			2,389				255,408
Amazon.com *			36,739				3,763,543
Booking Holdings *			238				444,936
Dollar Tree *			1,338				212,073
eBay			3,339				133,026
Lucid Group *			9,962				142,357
Lululemon Athletica *			720				236,909
Marriott International, Cl A			1,941				310,773
O'Reilly Automotive *			377				315,613
Ross Stores			2,094				200,375
Starbucks			6,867				594,614
Tesla *			11,209				2,550,496
							9,160,123
Consumer Staples — 7.2%
Costco Wholesale			2,651				1,329,477

 

 

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

197

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Schedule of Investments	October 31, 2022
Global X Nasdaq 100® Covered Call & Growth ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Staples — continued
Keurig Dr Pepper			8,475			$	329,169
Kraft Heinz			7,330				281,985
Mondelez International, Cl A .			8,202				504,259
Monster Beverage *			3,096				290,157
PepsiCo			8,257				1,499,306
Walgreens Boots Alliance			5,148				187,902
							4,422,255
Health Care — 7.3%
Align Technology *			473				91,904
Amgen .			3,201				865,390
Biogen *			865				245,176
Dexcom *			2,305				278,398
Gilead Sciences			7,499				588,371
IDEXX Laboratories *			503				180,919
Illumina *			947				216,693
Intuitive Surgical *			2,137				526,706
Moderna *			2,342				352,073
Regeneron Pharmaceuticals *			639				478,451
Seagen *			1,093				138,986
Vertex Pharmaceuticals *			1,536				479,232
							4,442,299
Industrials — 3.8%
Cintas			598				255,675
Copart *			1,405				161,603
CSX			12,812				372,317
Fastenal			3,433				165,917
Honeywell International .			4,031				822,405
Old Dominion Freight Line			666				182,883
PACCAR			2,080				201,406
Verisk Analytics, Cl A .			958				175,151
							2,337,357
Information Technology — 50.3%
Adobe *			2,798				891,163
Advanced Micro Devices *			9,658				580,059
Analog Devices			3,075				438,556
ANSYS *			517				114,340
Apple .			57,955				8,886,820

 

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

198

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Schedule of Investments	October 31, 2022
Global X Nasdaq 100® Covered Call & Growth ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
Applied Materials .			5,146			$	454,340
Atlassian, Cl A *			849				172,118
Autodesk *			1,268				271,732
Automatic Data Processing			2,485				600,625
Broadcom			2,423				1,139,101
Cadence Design Systems *			1,608				243,435
Cisco Systems			24,774				1,125,483
Cognizant Technology Solutions, Cl A			3,116				193,971
Crowdstrike Holdings, Cl A *			1,262				203,434
Datadog, Cl A *			1,675				134,854
DocuSign, Cl A *			1,191				57,525
Fiserv *			3,825				392,981
Fortinet *			4,720				269,795
Intel .			24,568				698,468
Intuit .			1,686				720,765
KLA			837				264,869
Lam Research			819				331,515
Marvell Technology .			5,005				198,598
Microchip Technology			3,275				202,199
Micron Technology .			6,602				357,168
Microsoft			26,894				6,242,904
NVIDIA .			12,637				1,705,616
Okta, Cl A *			858				48,151
Palo Alto Networks *			1,790				307,146
Paychex			2,113				249,989
PayPal Holdings *			6,920				578,374
QUALCOMM .			6,719				790,558
Skyworks Solutions			968				83,258
Splunk *			966				80,284
Synopsys *			896				262,125
Texas Instruments .			5,465				877,843
VeriSign *			628				125,889
Workday, Cl A *			1,177				183,400
Zoom Video Communications, Cl A *			1,512				126,161
Zscaler *			830				127,903
							30,733,515
Utilities — 1.5%
American Electric Power			3,071				270,002
Constellation Energy .			1,953				184,637

 

 

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

199

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Schedule of Investments	October 31, 2022
Global X Nasdaq 100® Covered Call & Growth ETF

 

		Shares				Value
COMMON STOCK — continued
Utilities — continued
Exelon			5,833			$	225,095
Xcel Energy			3,223				209,850
							889,584
TOTAL UNITED STATES							61,149,155
TOTAL COMMON STOCK
(Cost $77,853,060)							62,484,744
TOTAL INVESTMENTS — 102.3%
(Cost $77,853,060)						$	62,484,744
WRITTEN OPTIONS— (2.4)%
(Premiums Received $(1,328,561))						$	(1,488,595	)

Percentages are based on Net Assets of $61,104,688.

A list of the exchange traded option contracts held by the Fund at October 31, 2022, is as follows:

Description		Number of Contracts				Notional Amount				Exercise Price			Expiration Date		Value
WRITTEN OPTIONS — (2.4)%
Call Options
Nasdaq-100			(25	)		$	(27,625,000	)		$	11,050.00		11/18/22		$	(1,367,375	)
Nasdaq-100® Reduced-Value Index			(11	)			(2,431,000	)			2,210.00		11/18/22			(121,220	)
Total Written Options						$	(30,056,000	)							$	(1,488,595	)

 * Non-income producing security.

(A) All or a portion of these securities has been segregated as collateral for options contracts. The aggregate market value of collateral at October 31, 2022 was $62,484,744.

 

 

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

200

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Schedule of Investments	October 31, 2022
Global X Nasdaq 100® Covered Call & Growth ETF

 

 

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

Investments in Securities		Level 1				Level 2				Level 3				Total
Common Stock		$	62,484,744			$	—			$	—			$	62,484,744
Total Investments in Securities		$	62,484,744			$	—			$	—			$	62,484,744

Other Financial Instruments		Level 1				Level 2				Level 3				Total
Written Options		$	(1,488,595	)		$	–			$	–			$	(1,488,595	)
Total Other Financial Instruments		$	(1,488,595	)		$	–			$	–			$	(1,488,595	)

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.

 

201

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Schedule of Investments	October 31, 2022
Global X S&P 500® Covered Call & Growth ETF

 

		Shares				Value
COMMON STOCK — 102.8%(A)
CHINA — 0.1%
Information Technology — 0.1%
NXP Semiconductors .			332			$	48,498
SWITZERLAND — 0.1%
Information Technology — 0.1%
TE Connectivity			404				49,381
UNITED KINGDOM — 0.5%
Materials — 0.5%
Linde			654				194,467
UNITED STATES — 102.1%
Communication Services — 7.6%
Activision Blizzard .			962				70,034
Alphabet, Cl A *			7,870				743,794
Alphabet, Cl C *			7,037				666,122
AT&T			9,353				170,505
Charter Communications, Cl A *			145				53,305
Comcast, Cl A			5,780				183,457

  .

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

202

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Schedule of Investments	October 31, 2022
Global X S&P 500® Covered Call & Growth ETF

 

		Shares				Value
COMMON STOCK — continued
Communication Services — continued
DISH Network, Cl A *			328			$	4,891
Electronic Arts			371				46,731
Fox, Cl A			351				10,133
Fox, Cl B			167				4,542
Interpublic Group			495				14,746
Live Nation Entertainment *			164				13,056
Lumen Technologies .			1,307				9,620
Match Group *			348				15,034
Meta Platforms, Cl A *			2,993				278,828
Netflix *			584				170,458
News, Cl A .			495				8,351
News, Cl B .			165				2,826
Omnicom Group .			283				20,588
Paramount Global, Cl B			805				14,748
Take-Two Interactive Software *			219				25,947
T-Mobile US *			802				121,551
Verizon Communications			5,501				205,572
Walt Disney *			2,380				253,565
Warner Bros Discovery *			2,855				37,115
							3,145,519
Consumer Discretionary — 11.2%
Advance Auto Parts			68				12,915
Amazon.com *			11,633				1,191,684
Aptiv *			331				30,144
AutoZone *			26				65,855
Bath & Body Works .			328				10,949
Best Buy			279				19,086
Booking Holdings *			51				95,343
BorgWarner .			325				12,197
Caesars Entertainment *			320				13,994
CarMax *			229				14,429
Carnival *			1,106				10,020
Chipotle Mexican Grill, Cl A *			35				52,442
Darden Restaurants .			165				23,618
Dollar General .			288				73,454
Dollar Tree *			304				48,184
Domino's Pizza .			42				13,954
DR Horton			437				33,597
eBay			748				29,800

 

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

203

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Schedule of Investments	October 31, 2022
Global X S&P 500® Covered Call & Growth ETF

		Shares				Value
COMMON STOCK — continued
Consumer Discretionary — continued
Etsy *			162			$	15,213
Expedia Group *			200				18,694
Ford Motor .			5,184				69,310
Garmin			203				17,872
General Motors			1,914				75,124
Genuine Parts .			186				33,082
Hasbro .			166				10,831
Hilton Worldwide Holdings .			364				49,235
Home Depot .			1,349				399,479
Las Vegas Sands *			489				18,587
Lennar, Cl A .			327				26,389
LKQ			332				18,472
Lowe's			835				162,783
Marriott International, Cl A			360				57,640
McDonald's .			966				263,390
MGM Resorts International .			498				17,714
Mohawk Industries *			69				6,538
Newell Brands .			494				6,822
NIKE, Cl B			1,659				153,756
Norwegian Cruise Line Holdings *			485				8,192
NVR *			4				16,951
O'Reilly Automotive *			86				71,997
Pool .			46				13,995
PulteGroup .			330				13,197
Ralph Lauren, Cl A .			78				7,230
Ross Stores			472				45,166
Royal Caribbean Cruises *			322				17,188
Starbucks			1,506				130,405
Tapestry .			332				10,518
Target			609				100,028
Tesla *			3,496				795,480
TJX			1,538				110,890
Tractor Supply .			136				29,889
Ulta Beauty *			68				28,517
VF .			382				10,791
Whirlpool			73				10,092
Wynn Resorts *			161				10,288
Yum! Brands			361				42,688
							4,646,098

 

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

204

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Schedule of Investments	October 31, 2022
Global X S&P 500® Covered Call & Growth ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Staples — 7.1%
Altria Group .			2,364			$	109,382
Archer-Daniels-Midland			736				71,377
Brown-Forman, Cl B			231				15,708
Campbell Soup .			232				12,275
Church & Dwight			328				24,315
Clorox			162				23,658
Coca-Cola .			5,088				304,517
Colgate-Palmolive			1,095				80,855
Conagra Brands .			657				24,112
Constellation Brands, Cl A			211				52,134
Costco Wholesale			581				291,372
Estee Lauder, Cl A .			307				61,550
General Mills			752				61,348
Hershey			191				45,605
Hormel Foods			332				15,421
J M Smucker .			129				19,435
Kellogg			330				25,351
Keurig Dr Pepper			1,115				43,307
Kimberly-Clark			422				52,522
Kraft Heinz			1,105				42,509
Kroger			865				40,906
Lamb Weston Holdings .			167				14,399
McCormick .			327				25,715
Molson Coors Beverage, Cl B			254				12,809
Mondelez International, Cl A .			1,799				110,603
Monster Beverage *			489				45,829
PepsiCo			1,804				327,570
Philip Morris International			2,035				186,915
Procter & Gamble .			3,136				422,325
Sysco .			653				56,524
Tyson Foods, Cl A			385				26,315
Walgreens Boots Alliance			985				35,953
Walmart			1,862				265,018
							2,947,634
Energy — 5.6%
APA .			494				22,457
Baker Hughes, Cl A			1,253				34,658
Chevron .			2,364				427,648
ConocoPhillips .			1,671				210,696

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

205

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Schedule of Investments	October 31, 2022
Global X S&P 500® Covered Call & Growth ETF

 

		Shares				Value
COMMON STOCK — continued
Energy — continued
Coterra Energy			1,107			$	34,461
Devon Energy			859				66,444
Diamondback Energy			233				36,607
EOG Resources			769				104,984
EQT .			485				20,292
Exxon Mobil			5,470				606,131
Halliburton .			1,160				42,247
Hess			368				51,917
Kinder Morgan			2,623				47,529
Marathon Oil .			936				28,501
Marathon Petroleum			673				76,466
Occidental Petroleum .			1,008				73,181
ONEOK			608				36,067
Phillips 66 .			636				66,328
Pioneer Natural Resources			322				82,564
Schlumberger			1,856				96,568
Targa Resources			292				19,964
Valero Energy .			535				67,169
Williams			1,600				52,368
							2,305,247
Financials — 11.8%
Aflac			794				51,697
Allstate			338				42,672
American Express .			771				114,455
American International Group			1,044				59,508
Ameriprise Financial			149				46,059
Aon, Cl A .			269				75,721
Arch Capital Group *			483				27,773
Arthur J Gallagher			277				51,821
Assurant .			65				8,831
Bank of America			9,175				330,667
Bank of New York Mellon			1,008				42,447
Berkshire Hathaway, Cl B *			2,369				699,068
BlackRock, Cl A .			197				127,244
Brown & Brown .			310				18,225
Capital One Financial			508				53,858
Cboe Global Markets .			125				15,562
Charles Schwab .			2,014				160,455
Chubb .			548				117,760

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

206

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Schedule of Investments	October 31, 2022
Global X S&P 500® Covered Call & Growth ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
Cincinnati Financial .			197			$	20,354
Citigroup			2,542				116,576
Citizens Financial Group .			637				26,053
CME Group, Cl A .			472				81,798
Comerica			165				11,633
Discover Financial Services			364				38,023
Everest Re Group			48				15,488
FactSet Research Systems .			44				18,722
Fifth Third Bancorp			948				33,834
First Republic Bank .			229				27,503
Franklin Resources			330				7,739
Globe Life .			128				14,787
Goldman Sachs Group			448				154,340
Hartford Financial Services Group .			447				32,367
Huntington Bancshares			1,901				28,857
Intercontinental Exchange .			732				69,957
Invesco			507				7,767
JPMorgan Chase .			3,849				484,512
KeyCorp			1,289				23,034
Lincoln National .			179				9,643
Loews .			270				15,395
M&T Bank .			226				38,052
MarketAxess Holdings .			42				10,250
Marsh & McLennan .			656				105,937
MetLife .			856				62,668
Moody's .			207				54,828
Morgan Stanley			1,770				145,441
MSCI, Cl A			104				48,761
Nasdaq .			489				30,435
Northern Trust .			294				24,799
PNC Financial Services Group			541				87,550
Principal Financial Group			330				29,083
Progressive			768				98,611
Prudential Financial .			495				52,069
Raymond James Financial .			243				28,708
Regions Financial .			1,304				28,623
S&P Global .			442				141,993
Signature Bank NY .			101				16,012
State Street .			491				36,334

 

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

207

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Schedule of Investments	October 31, 2022
Global X S&P 500® Covered Call & Growth ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
SVB Financial Group *			67			$	15,474
Synchrony Financial			703				24,999
T Rowe Price Group			282				29,937
Travelers .			321				59,212
Truist Financial			1,742				78,024
US Bancorp .			1,775				75,349
W R Berkley			254				18,893
Wells Fargo .			4,973				228,708
Willis Towers Watson			151				32,950
Zions Bancorp .			170				8,830
							4,894,735
Health Care — 15.7%
Abbott Laboratories .			2,296				227,166
AbbVie			2,309				338,038
ABIOMED *			51				12,856
Agilent Technologies			392				54,233
Align Technology *			108				20,984
AmerisourceBergen, Cl A .			204				32,073
Amgen .			702				189,786
Baxter International			651				35,382
Becton Dickinson			371				87,545
Biogen *			182				51,586
Bio-Rad Laboratories, Cl A *			26				9,144
Bio-Techne			43				12,739
Boston Scientific *			1,879				81,004
Bristol-Myers Squibb .			2,804				217,226
Cardinal Health			326				24,743
Catalent *			230				15,118
Centene *			735				62,571
Charles River Laboratories International *			59				12,523
Cigna .			395				127,609
Cooper .			55				15,036
CVS Health .			1,723				163,168
Danaher			855				215,178
DaVita *			68				4,965
DENTSPLY SIRONA .			319				9,832
Dexcom *			515				62,202
Edwards Lifesciences *			819				59,320
Elevance Health			315				172,233

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

208

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Schedule of Investments	October 31, 2022
Global X S&P 500® Covered Call & Growth ETF

 

		Shares				Value
COMMON STOCK — continued
Health Care — continued
Eli Lilly			1,035			$	374,763
Gilead Sciences			1,645				129,067
HCA Healthcare			285				61,979
Henry Schein *			167				11,433
Hologic *			330				22,374
Humana			164				91,525
IDEXX Laboratories *			106				38,126
Illumina *			206				47,137
Incyte *			254				18,882
Intuitive Surgical *			469				115,594
IQVIA Holdings *			247				51,789
Johnson & Johnson .			3,451				600,370
Laboratory Corp of America Holdings			131				29,064
McKesson			185				72,033
Medtronic			1,744				152,321
Merck .			3,311				335,073
Mettler-Toledo International *			29				36,683
Moderna *			434				65,243
Molina Healthcare *			76				27,273
Organon .			327				8,561
PerkinElmer			163				21,774
Pfizer			7,334				341,398
Quest Diagnostics .			165				23,702
Regeneron Pharmaceuticals *			141				105,574
ResMed			192				42,948
STERIS			132				22,781
Stryker .			442				101,324
Teleflex			51				10,943
Thermo Fisher Scientific			511				262,639
UnitedHealth Group			1,228				681,724
Universal Health Services, Cl B .			85				9,849
Vertex Pharmaceuticals *			337				105,144
Viatris *			1,623				16,441
Waters *			79				23,634
West Pharmaceutical Services			94				21,629
Zimmer Biomet Holdings .			287				32,531
Zoetis, Cl A .			614				92,579
							6,520,164

 

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

209

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Schedule of Investments	October 31, 2022
Global X S&P 500® Covered Call & Growth ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — 8.5%
3M			712			$	89,562
A O Smith .			165				9,039
Alaska Air Group *			165				7,336
Allegion .			124				12,991
American Airlines Group *			814				11,542
AMETEK			311				40,324
Boeing *			733				104,460
Carrier Global			1,136				45,167
Caterpillar .			693				150,007
CH Robinson Worldwide			165				16,124
Cintas			110				47,030
Copart *			264				30,365
CoStar Group *			549				45,413
CSX			2,730				79,334
Cummins			187				45,723
Deere .			365				144,474
Delta Air Lines *			815				27,653
Dover			188				24,570
Eaton			525				78,787
Emerson Electric			777				67,288
Equifax .			163				27,635
Expeditors International of Washington .			238				23,288
Fastenal			775				37,456
FedEx .			299				47,924
Fortive .			483				30,864
Fortune Brands Home & Security .			165				9,953
Generac Holdings *			80				9,273
General Dynamics			290				72,442
General Electric .			1,439				111,969
Honeywell International .			884				180,354
Howmet Aerospace .			495				17,597
Huntington Ingalls Industries			45				11,568
IDEX .			111				24,676
Illinois Tool Works			370				79,006
Ingersoll Rand .			493				24,896
Jacobs Solutions .			165				19,011
JB Hunt Transport Services			116				19,844
Johnson Controls International			857				49,569
L3Harris Technologies .			244				60,139

 

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

210

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Schedule of Investments	October 31, 2022
Global X S&P 500® Covered Call & Growth ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — continued
Leidos Holdings			165			$	16,762
Lockheed Martin			310				150,871
Masco .			330				15,269
Nordson .			65				14,625
Norfolk Southern .			299				68,193
Northrop Grumman			190				104,312
Old Dominion Freight Line			129				35,423
Otis Worldwide			523				36,945
PACCAR			468				45,316
Parker-Hannifin			163				47,371
Pentair			169				7,259
Quanta Services .			188				26,704
Raytheon Technologies			1,938				183,761
Republic Services, Cl A			277				36,736
Robert Half International			163				12,463
Rockwell Automation			156				39,827
Rollins .			327				13,760
Snap-On .			65				14,433
Southwest Airlines *			820				29,807
Stanley Black & Decker .			191				14,992
Textron			254				17,384
Trane Technologies .			314				50,124
TransDigm Group .			68				39,152
Union Pacific			820				161,655
United Airlines Holdings *			444				19,128
United Parcel Service, Cl B .			961				161,227
United Rentals *			90				28,414
Verisk Analytics, Cl A .			206				37,663
Waste Management .			495				78,393
Westinghouse Air Brake Technologies			239				22,294
WW Grainger .			59				34,477
Xylem .			236				24,173
							3,523,566
Information Technology — 26.8%
Accenture, Cl A			830				235,637
Adobe *			614				195,559
Advanced Micro Devices *			2,119				127,267
Akamai Technologies *			210				18,549
Amphenol, Cl A .			799				60,588

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

211

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Schedule of Investments	October 31, 2022
Global X S&P 500® Covered Call & Growth ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
Analog Devices			682			$	97,267
ANSYS *			123				27,203
Apple .			19,828				3,040,426
Applied Materials .			1,114				98,355
Arista Networks *			323				39,038
Autodesk *			273				58,504
Automatic Data Processing			545				131,726
Broadcom			530				249,164
Broadridge Financial Solutions .			163				24,460
Cadence Design Systems *			361				54,652
CDW			165				28,514
Ceridian HCM Holding *			168				11,120
Cisco Systems			5,435				246,912
Cognizant Technology Solutions, Cl A			653				40,649
Corning .			982				31,591
DXC Technology *			330				9,487
Enphase Energy *			178				54,646
EPAM Systems *			75				26,250
F5 *			74				10,575
Fidelity National Information Services .			766				63,570
Fiserv *			854				87,740
FleetCor Technologies *			113				21,032
Fortinet *			886				50,644
Gartner *			101				30,494
Global Payments			360				41,134
Hewlett Packard Enterprise			1,781				25,415
HP			1,275				35,215
Intel .			5,389				153,209
International Business Machines .			1,185				163,874
Intuit .			370				158,175
Jack Henry & Associates .			108				21,498
Juniper Networks .			489				14,963
Keysight Technologies *			237				41,274
KLA			185				58,543
Lam Research			178				72,051
Mastercard, Cl A .			1,120				367,562
Microchip Technology			744				45,935
Micron Technology .			1,476				79,852
Microsoft			9,789				2,272,321

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

212

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Schedule of Investments	October 31, 2022
Global X S&P 500® Covered Call & Growth ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
Monolithic Power Systems .			54			$	18,330
Motorola Solutions			215				53,688
NetApp .			301				20,850
NortonLifeLock			819				18,452
NVIDIA .			3,289				443,916
ON Semiconductor *			575				35,322
Oracle .			1,987				155,125
Paychex			427				50,518
Paycom Software *			64				22,144
PayPal Holdings *			1,518				126,874
PTC *			159				18,735
Qorvo *			163				14,031
QUALCOMM .			1,474				173,431
Roper Technologies			143				59,279
Salesforce *			1,306				212,343
Seagate Technology Holdings .			249				12,365
ServiceNow *			265				111,496
Skyworks Solutions			192				16,514
SolarEdge Technologies *			64				14,722
Synopsys *			199				58,217
Teledyne Technologies *			62				24,675
Teradyne .			210				17,084
Texas Instruments .			1,199				192,595
Trimble *			328				19,732
Tyler Technologies *			50				16,167
VeriSign *			131				26,260
Visa, Cl A .			2,148				444,980
Western Digital *			420				14,435
Zebra Technologies, Cl A *			68				19,259
							11,134,179
Materials — 2.1%
Air Products & Chemicals .			296				74,118
Albemarle			145				40,581
Amcor			2,090				24,202
Avery Dennison .			118				20,007
Ball			423				20,892
Celanese, Cl A .			147				14,130
CF Industries Holdings			286				30,390
Corteva .			902				58,937

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

213

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Schedule of Investments	October 31, 2022
Global X S&P 500® Covered Call & Growth ETF

 

		Shares				Value
COMMON STOCK — continued
Materials — continued
Dow			982			$	45,899
DuPont de Nemours .			656				37,523
Eastman Chemical .			165				12,674
Ecolab			325				51,048
FMC .			165				19,618
Freeport-McMoRan .			1,796				56,915
International Flavors & Fragrances			328				32,016
International Paper .			495				16,637
LyondellBasell Industries, Cl A			330				25,229
Martin Marietta Materials			82				27,550
Mosaic .			491				26,391
Newmont			1,045				44,224
Nucor			330				43,355
Packaging Corp of America .			131				15,748
PPG Industries			325				37,108
Sealed Air			167				7,953
Sherwin-Williams .			300				67,509
Vulcan Materials			165				27,011
Westrock .			331				11,274
							888,939
Real Estate — 2.7%
Alexandria Real Estate Equities ‡			192				27,898
American Tower ‡			611				126,593
AvalonBay Communities ‡			186				32,572
Boston Properties ‡			166				12,068
Camden Property Trust ‡			148				17,101
CBRE Group, Cl A *			444				31,497
Crown Castle			568				75,692
Digital Realty Trust ‡			380				38,095
Equinix .			117				66,274
Equity Residential ‡			461				29,052
Essex Property Trust ‡			95				21,113
Extra Space Storage ‡			165				29,278
Federal Realty Investment Trust ‡			98				9,700
Healthpeak Properties ‡			673				15,970
Host Hotels & Resorts ‡			984				18,578
Invitation Homes ‡			830				26,303
Iron Mountain ‡			333				16,673
Kimco Realty ‡			761				16,270

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

214

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Schedule of Investments	October 31, 2022
Global X S&P 500® Covered Call & Growth ETF

 

		Shares				Value
COMMON STOCK — continued
Real Estate — continued
Mid-America Apartment Communities ‡			163			$	25,664
ProLogis ‡			1,212				134,229
Public Storage ‡			199				61,640
Realty Income ‡			804				50,065
Regency Centers ‡			167				10,105
SBA Communications, Cl A			144				38,866
Simon Property Group ‡			439				47,842
UDR ‡			342				13,598
Ventas ‡			493				19,291
VICI Properties ‡			1,283				41,082
Vornado Realty Trust ‡			167				3,940
Welltower ‡			587				35,830
Weyerhaeuser ‡			988				30,559
							1,123,438
Utilities — 3.0%
AES .			918				24,015
Alliant Energy .			329				17,164
Ameren .			328				26,739
American Electric Power			655				57,588
American Water Works			235				34,155
Atmos Energy			161				17,155
CenterPoint Energy .			815				23,317
CMS Energy			333				18,998
Consolidated Edison			475				41,781
Constellation Energy .			447				42,259
Dominion Energy			1,117				78,156
DTE Energy .			259				29,036
Duke Energy			1,011				94,205
Edison International .			486				29,179
Entergy			280				29,999
Evergy			327				19,990
Eversource Energy .			426				32,495
Exelon			1,308				50,476
FirstEnergy			769				28,999
NextEra Energy .			2,579				199,872
NiSource .			496				12,742
NRG Energy			328				14,563
PG&E *			2,104				31,413
Pinnacle West Capital			163				10,955

 

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

215

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Schedule of Investments	October 31, 2022
Global X S&P 500® Covered Call & Growth ETF

 

		Shares				Value
COMMON STOCK — continued
Utilities — continued
PPL			997			$	26,411
Public Service Enterprise Group .			658				36,894
Sempra Energy .			413				62,338
Southern			1,395				91,345
WEC Energy Group .			420				38,359
Xcel Energy			677				44,079
							1,264,677
TOTAL UNITED STATES							42,394,196
TOTAL COMMON STOCK
(Cost $48,370,800)							42,686,542
TOTAL INVESTMENTS — 102.8%
(Cost $48,370,800)						$	42,686,542
WRITTEN OPTIONS— (3.0)%
(Premiums Received  $(743,280))						$	(1,225,516	)

 

Percentages are based on Net Assets of $41,510,539. 

A list of the exchange traded option contracts held by the Fund at October 31, 2022, is as follows:

		Number of				Notional				Exercise			Expiration
Description		Contracts				Amount				Price			Date		Value
WRITTEN OPTIONS — (3.0)%
Call Options
Mini-SPX Index			(21	)		$	(772,800	)		$	368.00		11/18/22		$	(47,061	)
S&P 500 Index			(53	)			(19,504,000	)			3,680.00		11/18/22			(1,178,455	)
Total Written
Options						$	(20,276,800	)							$	(1,225,516	)

 

* Non-income producing security.

‡ Real Estate Investment Trust

(A) All or a portion of these securities has been segregated as collateral for options contracts. The aggregate market value of collateral at October 31, 2022 was $42,686,542.

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

216

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Schedule of Investments	October 31, 2022
Global X S&P 500® Covered Call & Growth ETF

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

Investments in Securities		Level 1				Level 2				Level 3				Total
Common Stock		$	42,686,542			$	—			$	—			$	42,686,542
Total Investments in Securities		$	42,686,542			$	—			$	—			$	42,686,542

Other Financial Instruments		Level 1				Level 2				Level 3				Total
Written Options		$	(1,225,516	)		$	–			$	–			$	(1,225,516	)
Total Other Financial Instruments		$	(1,225,516	)		$	–			$	–			$	(1,225,516	)

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.

217

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Schedule of Investments	October 31, 2022
Global X Russell 2000 Covered Call & Growth ETF

 

		Shares				Value
EXCHANGE TRADED FUND — 104.2%(A)
Vanguard Russell 2000 ETF (Cost $2,657,252).$			37,399			$	2,769,770
TOTAL INVESTMENTS — 104.2%
(Cost $2,657,252)						$	2,769,770
WRITTEN OPTIONS— (4.3)%
(Premiums Received  $(56,428))						$	(114,419	)

 

Percentages are based on Net Assets of $2,658,191.

A list of the exchange traded option contracts held by the Fund at October 31, 2022, is as follows:

Description		Number of Contracts				Notional Amount				Exercise Price			Expiration Date		Value
WRITTEN OPTIONS — (4.3)%
Call Options
Cboe Mini-Russell 2000 Index			(4	)		$	(68,000	)		$	170.00		11/18/22		$	(6,374	)
Russell 2000 Index			(7	)			(1,193,500	)			1,705.00		11/18/22			(108,045	)
Total Written Options						$	(1,261,500	)							$	(114,419	)

 

(A) All or a portion of these securities has been segregated as collateral for options contracts. The aggregate market value of collateral at October 31, 2022 was $1,377,516.

 

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

218

---

Schedule of Investments	October 31, 2022
Global X Russell 2000 Covered Call & Growth ETF

 

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

 

Investments in Securities		Level 1				Level 2				Level 3				Total
Exchange Traded Fund			2,769,770				—				—				2,769,770
Total Investments in Securities		$	2,769,770			$	—			$	—			$	2,769,770

Other Financial Instruments		Level 1				Level 2				Level 3				Total
Written Options		$	(114,419	)		$	–			$	–			$	(114,419	)
Total Other Financial Instruments		$	(114,419	)		$	–			$	–			$	(114,419	)

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.

219

---

Schedule of Investments		October 31, 2022
Global X SuperIncome™ Preferred ETF

 

		Shares				Value
PREFERRED STOCK — 99.4%
UNITED STATES— 99.4%
Communication Services — 4.5%
Paramount Global, 5.750% *			76,247			$	2,214,975
Telephone and Data Systems, 6.625%			133,550				2,683,020
Telephone and Data Systems, 6.000%			219,218				3,880,159
							8,778,154
Consumer Discretionary — 2.3%
Qurate Retail, 8.000%			94,327				4,548,448
Energy — 7.5%
Crestwood Equity Partners, 9.250%			528,118				4,874,529
Energy Transfer, 7.625%, ICE LIBOR USD 3
Month + 4.738% (A)			110,973				2,536,843
Energy Transfer, 7.600%, ICE LIBOR USD 3
Month + 5.161% (A) (B)			202,342				4,659,936
Energy Transfer, 7.375%, ICE LIBOR USD 3
Month + 4.530% (A) (B)			109,459				2,451,882
							14,523,190
Financials — 71.9%
AGNC Investment, 9.190%, ICE LIBOR USD
3 Month + 5.111% ‡,(A)			96,620				2,280,232
AGNC Investment, 6.500%, ICE LIBOR USD
3 Month + 4.993% ‡,(A)			123,658				2,423,697

 

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

220

---

Schedule of Investments		October 31, 2022
Global X SuperIncome™ Preferred ETF

 

		Shares				Value
PREFERRED STOCK — continued
Financials — continued
AGNC Investment, 6.125%, ICE LIBOR USD
3 Month + 4.697% ‡,(A)			174,517			$	3,246,016
Allstate, 5.625%			170,263				3,698,112
American International Group, 5.850%			151,121				3,324,662
Annaly Capital Management, 8.667%, ICE
LIBOR USD 3 Month + 4.993% ‡,(A)			198,194				4,774,493
Annaly Capital Management, 6.750%, ICE
LIBOR USD 3 Month + 4.989% ‡,(A)			122,475				2,549,929
Annaly Capital Management, 6.500%, ICE
LIBOR USD 3 Month + 4.172% ‡,(A)			118,551				2,423,182
Athene Holding, 6.350%, ICE LIBOR USD 3
Month + 4.253% (A)			258,293				6,149,956
Athene Holding, 4.875%			175,724				3,024,210
Bank of America, 6.000%			249,339				5,934,268
Bank of America, 5.875%			160,708				3,726,819
Brighthouse Financial, 5.375%			173,148				3,109,738
Capital One Financial, 5.000%			232,308				4,304,667
Capital One Financial, 4.800%			192,295				3,345,933
Capital One Financial, 4.375%			104,455				1,660,835
Charles Schwab, 5.950%			222,457				5,123,185
Citigroup, Ser J, 7.125%, ICE LIBOR USD 3
Month + 4.040% (A)			75,101				1,874,521
Citigroup, 6.875%, ICE LIBOR USD 3 Month
+ 4.130%  (A) (C)			118,920				3,001,541
Citigroup Capital XIII, 10.785%, ICE LIBOR
USD 3 Month + 6.370% (A)			175,602				4,820,275
Citizens Financial Group, 5.000%			135,918				2,620,499
Fifth Third Bancorp, 6.625%, ICE LIBOR
USD 3 Month + 3.710% (A) (C)			135,912				3,427,701
Goldman Sachs Group, 6.375%, ICE LIBOR
USD 3 Month + 3.550% (A)			207,795				5,142,926
JPMorgan Chase, 6.000%			392,089				9,566,972
KeyCorp, 6.200%, US Treas Yield Curve Rate
T Note Const Mat 5 Yr + 3.132% (A)			176,459				4,302,070
Morgan Stanley, Ser E, 7.125%, ICE LIBOR
USD 3 Month + 4.320% (A)			125,223				3,136,836
Morgan Stanley, Ser F, 6.875%, ICE LIBOR
USD 3 Month + 3.940% (A)			121,762				3,046,485
Morgan Stanley, 6.500% (C)			143,740				3,564,752

 

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

221

---

Schedule of Investments		October 31, 2022
Global X SuperIncome™ Preferred ETF

 

		Shares				Value
PREFERRED STOCK — continued
Financials — continued
PacWest Bancorp, 7.750%, US Treas Yield
Curve Rate T Note Const Mat 5 Yr +
4.820% (A)			152,214			$	3,777,951
Regions Financial, Ser B, 6.375%, ICE LIBOR
USD 3 Month + 3.536% (A)			152,943				3,777,692
Reinsurance Group of America, 7.663%, ICE
LIBOR USD 3 Month + 4.370% (A)			74,590				1,888,619
Rithm Capital, 7.000%, US Treas Yield Curve
Rate T Note Const Mat 5 Yr + 6.223% ‡,(A)			144,896				2,542,925
Signature Bank NY, 5.000%			221,130				3,896,311
State Street, 5.900%, ICE LIBOR USD 3
Month + 3.108% (A)			226,676				5,524,094
Synchrony Financial, 5.625%			223,351				3,790,266
Wells Fargo, 6.625%, ICE LIBOR USD 3
Month + 3.690% (A)			102,066				2,552,671
Wells Fargo, 5.850%, ICE LIBOR USD 3
Month + 3.090% (A)			203,836				4,637,269
Wells Fargo, 4.700%			141,489				2,539,728
							140,532,038
Health Care — 5.2%
Becton Dickinson, 6.000% *			208,690				10,171,551
Industrials — 2.5%
Clarivate, 5.250%			106,591				4,872,275
Utilities — 5.5%
Duke Energy, 5.750%			298,553				7,054,807
NiSource, 6.500%, US Treas Yield Curve Rate
T Note Const Mat 5 Yr + 3.632% (A)			149,496				3,694,046
							10,748,853
TOTAL UNITED STATES							194,174,509
TOTAL PREFERRED STOCK
(Cost $219,245,296)							194,174,509
SHORT-TERM INVESTMENT(D)(E) — 0.6%
Fidelity Investments Money Market
Government Portfolio, Cl Institutional,
2.910%
(Cost $1,086,479)			1,086,479				1,086,479

 

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

222

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Schedule of Investments		October 31, 2022
Global X SuperIncome™ Preferred ETF

 

		Face Amount			Value
REPURCHASE AGREEMENT(D) — 0.8%
BNP Paribas
2.930%, dated 10/31/2022, to be repurchased
on 11/01/2022, repurchase price $1,509,682
(collateralized by U.S. Treasury Obligations,
ranging in par value $30,005 - $176,397,
2.500% - 2.750%, 03/31/2027 - 05/31/2029,
with a total market value of $1,537,914)
(Cost $1,509,559)		$	1,509,559		$	1,509,559
TOTAL INVESTMENTS — 100.8%
(Cost $221,841,334)					$	196,770,547

 

Percentages are based on Net Assets of $195,159,250.

* Non-income producing security.

‡ Real Estate Investment Trust

(A) Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.

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

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

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

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
Preferred Stock		$	194,174,509			$	—			$	—			$	194,174,509
Short-Term Investment			1,086,479				—				—				1,086,479
Repurchase Agreement			—				1,509,559				—				1,509,559
Total Investments in Securities		$	195,260,988			$	1,509,559			$	—			$	196,770,547

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.

223

---

Schedule of Investments		October 31, 2022
Global X Renewable Energy Producers ETF

		Shares				Value
COMMON STOCK — 95.1%
AUSTRIA — 4.9%
Utilities — 4.9%
Verbund			56,658			$	4,437,824
BRAZIL — 12.9%
Utilities — 12.9%
AES Brasil Energia .			328,216				619,246
Centrais Eletricas Brasileiras .			740,695				7,032,526
Engie Brasil Energia			449,784				3,447,580
Omega Energia *			308,462				631,944
TOTAL BRAZIL							11,731,296
CANADA — 8.9%
Utilities — 8.9%
Boralex, Cl A			56,629				1,603,738
Innergex Renewable Energy .			112,524				1,237,389
Northland Power			127,595				3,707,977
TransAlta Renewables			147,143				1,578,169
TOTAL CANADA							8,127,273

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

224

---

Schedule of Investments		October 31, 2022
Global X Renewable Energy Producers ETF

 

		Shares				Value
COMMON STOCK — continued
CHINA — 3.8%
Utilities — 3.8%
China Datang Renewable Power, Cl H .			1,347,000			$	363,783
China Longyuan Power Group, Cl H			1,841,400				2,104,162
Xinyi Energy Holdings			4,023,000				1,024,988
TOTAL CHINA							3,492,933
DENMARK — 5.0%
Utilities — 5.0%
Orsted .			55,427				4,572,467
FRANCE — 2.3%
Utilities — 2.3%
Neoen .			59,277				2,069,267
GERMANY — 4.8%
Energy — 3.0%
VERBIO Vereinigte BioEnergie			34,952				2,753,214
Utilities — 1.8%
Encavis .			88,777				1,653,946
TOTAL GERMANY							4,407,160
GREECE — 1.3%
Utilities — 1.3%
Terna Energy .			63,870				1,188,027
HONG KONG — 0.4%
Utilities — 0.4%
Concord New Energy Group			4,848,000				370,555
INDIA — 1.2%
Utilities — 1.2%
Azure Power Global * (A)			34,601				200,340
ReNew Energy Global, Cl A *			155,709				904,669
TOTAL INDIA							1,105,009

 

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

225

---

Schedule of Investments		October 31, 2022
Global X Renewable Energy Producers ETF

 

		Shares				Value
COMMON STOCK — continued
ISRAEL — 2.3%
Utilities — 2.3%
Energix-Renewable Energies .			283,748			$	996,484
Enlight Renewable Energy *			521,323				1,061,310
TOTAL ISRAEL							2,057,794
ITALY — 2.9%
Utilities — 2.9%
ERG			82,871				2,599,675
JAPAN — 1.9%
Utilities — 1.9%
RENOVA *			43,538				957,845
West Holdings .			24,957				748,030
TOTAL JAPAN							1,705,875
NEW ZEALAND — 9.3%
Utilities — 9.3%
Contact Energy .			430,369				1,887,671
Mercury NZ			761,814				2,575,789
Meridian Energy .			1,421,016				4,028,628
TOTAL NEW ZEALAND							8,492,088
PORTUGAL — 0.6%
Utilities — 0.6%
Greenvolt-Energias Renovaveis *			75,339				579,307
RUSSIA — 0.0%
Utilities — 0.0%
RusHydro PJSC (B)‡			271,804,543				44
SOUTH AFRICA — 0.7%
Utilities — 0.7%
Scatec .			86,191				610,152
SPAIN — 9.0%
Utilities — 9.0%
Atlantica Sustainable Infrastructure			62,902				1,743,015

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

226

---

Schedule of Investments		October 31, 2022
Global X Renewable Energy Producers ETF

 

		Shares				Value
COMMON STOCK — continued
Utilities — continued
EDP Renovaveis .			254,906			$	5,368,749
Solaria Energia y Medio Ambiente *			68,885				1,089,317
TOTAL SPAIN							8,201,081
THAILAND — 7.7%
Utilities — 7.7%
Absolute Clean Energy NVDR (A)			5,526,636				397,871
BCPG NVDR (A)			1,572,800				394,646
Energy Absolute NVDR .			2,056,345				5,213,802
Gunkul Engineering NVDR			4,840,380				654,965
Super Energy NVDR			15,954,998				293,445
TOTAL THAILAND							6,954,729
UNITED KINGDOM — 1.5%
Utilities — 1.5%
Drax Group .			220,917				1,325,171
UNITED STATES — 13.7%
Energy — 2.7%
Enviva			36,756				2,199,479
Gevo * (A)			126,470				284,558
							2,484,037
Industrials — 2.9%
Sunrun *			115,836				2,607,468
Utilities — 8.1%
NextEra Energy Partners .			46,258				3,426,330
Ormat Technologies .			30,913				2,796,081
Sunnova Energy International *			63,193				1,171,598
							7,394,009
TOTAL UNITED STATES							12,485,514
TOTAL COMMON STOCK
(Cost $116,045,553)							86,513,241

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

227

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Schedule of Investments		October 31, 2022
Global X Renewable Energy Producers ETF

 

		Shares				Value
MASTER LIMITED PARTNERSHIP — 4.8%
CANADA— 4.8%
Utilities — 4.8%
Brookfield Renewable Partners, Cl A (C)
(Cost $3,930,947)			151,662			$	4,395,146
		Number of
		Rights
RIGHT — 0.0%
Brazil — 0.0%
Omega Energia*			41,123				157
TOTAL RIGHT (Cost $–)							157
		Shares
SHORT-TERM INVESTMENT(D)(E) — 0.3%
Fidelity Investments Money Market
Government Portfolio, Cl Institutional,
2.910%
(Cost $272,957)			272,957				272,957
			Face Amount
REPURCHASE AGREEMENT(D) — 0.4%
BNP Paribas
2.930%, dated 10/31/2022, to be repurchased
on 11/01/2022, repurchase price $379,280
(collateralized by U.S. Treasury Obligations,
ranging in par value $7,538 - $44,316,
2.500% - 2.750%, 03/31/2027 - 05/31/2029,
with a total market value of $386,368)
(Cost $379,249)		$	379,249				379,249
TOTAL INVESTMENTS — 100.6%
(Cost $120,628,706)						$	91,560,750

 

Percentages are based on Net Assets of $90,969,526.

* Non-income producing security.

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

(B) Level 3 security in accordance with fair value hierarchy.

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

(D) 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.

228

---

Schedule of Investments		October 31, 2022
Global X Renewable Energy Producers 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(1)‡				Total
Common Stock		$	86,513,197			$	—			$	44			$	86,513,241
Master Limited Partnership			4,395,146				—				—				4,395,146
Right			157				—				—				157
Short-Term Investment			272,957				—				—				272,957
Repurchase Agreement			—				379,249				—				379,249
Total Investments in Securities		$	91,181,457			$	379,249			$	44			$	91,560,750

 

(1) A reconciliation of Level 3 investments and disclosures of significant unobservable inputs are presented when the Fund has a significant amount of Level 3 investments at the end of the period in relation to Net Assets. Management has concluded that Level 3 investments are not material in relation to Net Assets.

‡ For the period ended October 31, 2022, there were no significant changes into/out of Level 3. The transfer into Level 3 investments for the Fund were immaterial, although the unrealized appreciation/(depreciation) on these investments was $ (2,923,498). These securities were impacted by the invasion of Ukraine and sanctions on market conditions in Russia. From the start of the conflict in Ukraine until October 31, 2022, Russian-held investments were valued at were valued at discount from their last traded prices.

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.

229

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Catholic Values ETF

 

		Shares				Value
COMMON STOCK — 99.9%
CHINA — 0.1%
Information Technology — 0.1%
NXP Semiconductors .			4,559			$	665,979
SWITZERLAND — 0.1%
Information Technology — 0.1%
TE Connectivity			5,637				689,011
UNITED KINGDOM — 0.5%
Materials — 0.5%
Linde			8,586				2,553,047
UNITED STATES — 99.2%
Communication Services — 7.4%
Activision Blizzard .			11,565				841,932
Alphabet, Cl A *			102,115				9,650,889
Alphabet, Cl C *			91,300				8,642,458
AT&T			120,787				2,201,947
Charter Communications, Cl A *			1,775				652,525
Comcast, Cl A			74,194				2,354,918
DISH Network, Cl A *			4,627				68,989

 

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

230

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Catholic Values ETF

 

		Shares				Value
COMMON STOCK — continued
Communication Services — continued
Electronic Arts			4,817			$	606,749
Fox, Cl A			4,330				125,007
Fox, Cl B			2,850				77,520
Interpublic Group			7,276				216,752
Lumen Technologies .			18,023				132,649
Match Group *			4,503				194,530
Meta Platforms, Cl A *			38,670				3,602,497
Netflix *			7,478				2,182,679
News, Cl A .			7,173				121,008
News, Cl B .			2,245				38,457
Omnicom Group .			3,549				258,190
Paramount Global, Cl B			10,186				186,608
Take-Two Interactive Software *			2,911				344,895
T-Mobile US *			10,108				1,531,968
Verizon Communications			70,583				2,637,687
Walt Disney *			30,926				3,294,856
Warner Bros Discovery *			37,742				490,646
							40,456,356
Consumer Discretionary — 11.0%
Advance Auto Parts			910				172,827
Amazon.com *			152,308				15,602,432
Aptiv *			4,922				448,247
AutoZone *			338				856,113
Bath & Body Works .			4,464				149,008
Best Buy			3,395				232,252
Booking Holdings *			720				1,346,026
BorgWarner .			4,015				150,683
CarMax *			2,723				171,576
Carnival *			13,662				123,778
Chipotle Mexican Grill, Cl A *			499				747,667
Darden Restaurants .			2,339				334,804
Dollar General .			4,093				1,043,920
Dollar Tree *			3,890				616,565
Domino's Pizza .			581				193,031
DR Horton			5,624				432,373
eBay			8,362				333,142
Etsy *			2,271				213,270
Expedia Group *			2,457				229,656
Ford Motor .			67,984				908,946

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

231

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Catholic Values ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Discretionary — continued
Garmin			2,566			$	225,911
General Motors			25,270				991,847
Genuine Parts .			2,699				480,044
Hasbro .			2,280				148,770
Hilton Worldwide Holdings .			4,787				647,490
Home Depot .			17,545				5,195,601
Las Vegas Sands *			6,206				235,890
Lennar, Cl A .			4,703				379,532
LKQ			4,548				253,051
Lowe's			11,019				2,148,154
Marriott International, Cl A			4,715				754,919
McDonald's .			12,501				3,408,523
Mohawk Industries *			952				90,202
NIKE, Cl B			21,281				1,972,323
Norwegian Cruise Line Holdings *			6,109				103,181
NVR *			50				211,887
O'Reilly Automotive *			1,045				874,843
Pool .			787				239,429
PulteGroup .			5,046				201,790
Ralph Lauren, Cl A .			1,057				97,973
Ross Stores			6,125				586,101
Starbucks			19,664				1,702,706
Tapestry .			5,211				165,084
Target			8,260				1,356,705
Tesla *			45,645				10,386,063
TJX			20,964				1,511,504
Tractor Supply .			2,000				439,540
Ulta Beauty *			843				353,529
VF .			5,081				143,538
Whirlpool			1,177				162,708
Wynn Resorts *			1,961				125,308
Yum! Brands			5,045				596,571
							60,497,033
Consumer Staples — 6.9%
Altria Group .			44,332				2,051,242
Archer-Daniels-Midland			14,054				1,362,957
Brown-Forman, Cl B			3,958				269,144
Campbell Soup .			4,241				224,391
Clorox			2,799				408,766

 

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

232

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Catholic Values ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Staples — continued
Coca-Cola .			97,139			$	5,813,769
Colgate-Palmolive			20,386				1,505,302
Conagra Brands .			11,996				440,253
Constellation Brands, Cl A			3,879				958,423
Costco Wholesale			11,052				5,542,578
Estee Lauder, Cl A .			5,611				1,124,949
General Mills			14,446				1,178,505
Hormel Foods			8,064				374,573
J M Smucker .			2,657				400,304
Kellogg			6,388				490,726
Keurig Dr Pepper			20,242				786,199
Kimberly-Clark			8,138				1,012,855
Kraft Heinz			18,900				727,083
Kroger			15,777				746,094
Lamb Weston Holdings .			4,166				359,193
McCormick .			5,747				451,944
Molson Coors Beverage, Cl B			5,378				271,213
Monster Beverage *			9,640				903,461
Procter & Gamble .			59,761				8,048,014
Sysco .			12,308				1,065,380
Tyson Foods, Cl A			6,745				461,021
Walgreens Boots Alliance			16,843				614,770
							37,593,109
Energy — 5.3%
APA .			7,028				319,493
Baker Hughes, Cl A			17,113				473,346
Chevron .			30,512				5,519,621
ConocoPhillips .			21,952				2,767,928
Coterra Energy			14,713				458,016
Devon Energy			10,595				819,523
Diamondback Energy			2,859				449,177
EOG Resources			10,050				1,372,026
Exxon Mobil			71,226				7,892,553
Halliburton .			16,172				588,984
Hess			4,844				683,391
Kinder Morgan			33,244				602,381
Marathon Oil .			10,088				307,180
Marathon Petroleum			8,538				970,088
Occidental Petroleum .			12,075				876,645

 

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

233

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Catholic Values ETF

 

		Shares				Value
COMMON STOCK — continued
Energy — continued
ONEOK			7,589			$	450,179
Phillips 66 .			8,151				850,068
Pioneer Natural Resources			3,889				997,178
Schlumberger			24,553				1,277,493
Valero Energy .			7,188				902,453
Williams			20,724				678,297
							29,256,020
Financials — 11.5%
Aflac			10,455				680,725
Allstate			4,988				629,735
American Express .			10,412				1,545,661
American International Group			12,208				695,856
Ameriprise Financial			1,978				611,439
Aon, Cl A .			3,434				966,637
Arthur J Gallagher			3,504				655,528
Assurant .			1,097				149,038
Bank of America			118,383				4,266,523
Bank of New York Mellon			13,517				569,201
Berkshire Hathaway, Cl B *			30,549				9,014,704
BlackRock, Cl A .			2,497				1,612,837
Brown & Brown .			3,344				196,594
Capital One Financial			6,979				739,914
Cboe Global Markets .			2,127				264,811
Charles Schwab .			25,806				2,055,964
Chubb .			6,899				1,482,526
Cincinnati Financial .			2,722				281,237
Citigroup			33,211				1,523,056
Citizens Financial Group .			7,364				301,188
CME Group, Cl A .			6,117				1,060,076
Comerica			2,189				154,325
Discover Financial Services			5,041				526,583
Everest Re Group			833				268,776
FactSet Research Systems .			545				231,892
Fifth Third Bancorp			10,651				380,134
First Republic Bank .			3,131				376,033
Franklin Resources			5,403				126,700
Globe Life .			1,806				208,629
Goldman Sachs Group			5,810				2,001,603
Hartford Financial Services Group .			5,850				423,599

 

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

234

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Schedule of Investments		October 31, 2022
Global X S&P 500® Catholic Values ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
Huntington Bancshares			24,856			$	377,314
Intercontinental Exchange .			9,614				918,810
Invesco			5,562				85,210
JPMorgan Chase .			49,670				6,252,460
KeyCorp			16,051				286,831
Lincoln National .			2,896				156,008
Loews .			3,336				190,219
M&T Bank .			2,967				499,554
MarketAxess Holdings .			576				140,567
Marsh & McLennan .			8,632				1,393,982
MetLife .			10,800				790,668
Moody's .			2,720				720,446
Morgan Stanley			23,479				1,929,269
MSCI, Cl A			1,380				647,027
Nasdaq .			6,542				407,174
Northern Trust .			3,505				295,647
PNC Financial Services Group			7,260				1,174,886
Principal Financial Group			4,176				368,031
Progressive			10,055				1,291,062
Prudential Financial .			6,595				693,728
Raymond James Financial .			3,496				413,017
Regions Financial .			17,945				393,893
S&P Global .			5,703				1,832,089
Signature Bank NY .			930				147,433
State Street .			5,739				424,686
SVB Financial Group *			1,018				235,117
Synchrony Financial			9,556				339,811
T Rowe Price Group			3,829				406,487
Travelers .			4,260				785,800
Truist Financial			22,901				1,025,736
US Bancorp .			23,179				983,949
W R Berkley			3,423				254,603
Wells Fargo .			64,374				2,960,560
Willis Towers Watson			1,671				364,629
Zions Bancorp .			2,579				133,953
							63,322,180
Health Care — 15.2%
ABIOMED *			2,353				593,144
Align Technology *			3,884				754,661

 

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

235

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Schedule of Investments		October 31, 2022
Global X S&P 500® Catholic Values ETF

 

		Shares				Value
COMMON STOCK — continued
Health Care — continued
AmerisourceBergen, Cl A .			8,483			$	1,333,697
Baxter International			27,542				1,496,908
Boston Scientific *			79,064				3,408,449
Cardinal Health			15,333				1,163,775
Cigna .			16,915				5,464,560
CVS Health .			73,370				6,948,139
DaVita *			3,261				238,086
DENTSPLY SIRONA .			12,646				389,750
Dexcom *			21,467				2,592,784
Edwards Lifesciences *			34,444				2,494,779
Elevance Health			13,313				7,279,149
Gilead Sciences			69,801				5,476,586
Henry Schein *			8,020				549,049
Hologic *			13,580				920,724
Humana			7,001				3,907,118
IDEXX Laboratories *			4,566				1,642,299
Incyte *			9,790				727,789
Intuitive Surgical *			19,949				4,916,830
IQVIA Holdings *			10,389				2,178,262
Laboratory Corp of America Holdings			4,954				1,099,094
McKesson			8,017				3,121,579
Medtronic			73,378				6,408,835
Mettler-Toledo International *			1,226				1,550,804
Molina Healthcare *			3,309				1,187,468
Quest Diagnostics .			6,617				950,532
ResMed			7,967				1,782,138
STERIS			5,425				936,246
Stryker .			18,696				4,285,871
Teleflex			2,456				526,959
Waters *			3,281				981,577
West Pharmaceutical Services			3,997				919,710
Zimmer Biomet Holdings .			11,302				1,281,082
Zoetis, Cl A .			26,189				3,948,777
							83,457,210
Industrials — 8.0%
3M			13,444				1,691,121
A O Smith .			3,002				164,449
Alaska Air Group *			3,288				146,184
Allegion .			2,048				214,569

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

236

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Schedule of Investments		October 31, 2022
Global X S&P 500® Catholic Values ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — continued
American Airlines Group *			14,581			$	206,758
AMETEK			5,359				694,848
Carrier Global			20,209				803,510
Caterpillar .			12,848				2,781,078
CH Robinson Worldwide			3,010				294,137
Cintas			2,125				908,544
Copart *			4,997				574,755
CSX			51,931				1,509,115
Cummins			3,317				811,040
Deere .			6,658				2,635,369
Delta Air Lines *			14,673				497,855
Dover			3,307				432,192
Eaton			9,214				1,382,745
Emerson Electric			13,812				1,196,119
Equifax .			2,822				478,442
Expeditors International of Washington .			3,790				370,851
Fastenal			13,127				634,428
FedEx .			5,695				912,795
Fortive .			8,181				522,766
Fortune Brands Home & Security .			3,141				189,465
Generac Holdings *			1,408				163,201
Howmet Aerospace .			8,712				309,712
IDEX .			1,686				374,815
Illinois Tool Works			6,661				1,422,323
Ingersoll Rand .			9,232				466,216
JB Hunt Transport Services			1,947				333,073
Johnson Controls International			16,373				947,014
Masco .			6,110				282,710
Nordson .			1,111				249,975
Norfolk Southern .			5,714				1,303,192
Old Dominion Freight Line			2,167				595,058
Otis Worldwide			10,173				718,621
PACCAR			7,966				771,348
Parker-Hannifin			3,029				880,288
Pentair			3,687				158,357
Quanta Services .			3,185				452,397
Republic Services, Cl A			4,780				633,924
Robert Half International			2,476				189,315
Rockwell Automation			2,622				669,397

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

237

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Schedule of Investments		October 31, 2022
Global X S&P 500® Catholic Values ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — continued
Rollins .			5,722			$	240,782
Snap-On .			1,200				266,460
Southwest Airlines *			13,962				507,519
Stanley Black & Decker .			3,701				290,491
Trane Technologies .			5,510				879,561
TransDigm Group *			1,317				758,276
Union Pacific			14,619				2,881,990
United Airlines Holdings *			7,253				312,459
United Parcel Service, Cl B .			17,391				2,917,688
United Rentals *			1,603				506,083
Verisk Analytics, Cl A .			3,672				671,352
Waste Management .			8,984				1,422,796
Westinghouse Air Brake Technologies			4,320				402,970
WW Grainger .			1,012				591,362
Xylem .			4,175				427,645
							44,051,505
Information Technology — 26.3%
Accenture, Cl A			10,674				3,030,349
Adobe *			8,092				2,577,302
Advanced Micro Devices *			27,773				1,668,046
Akamai Technologies *			2,979				263,135
Amphenol, Cl A .			10,259				777,940
Analog Devices			8,561				1,220,970
ANSYS *			1,482				327,759
Apple .			257,390				39,468,183
Applied Materials .			15,146				1,337,240
Arista Networks *			4,076				492,625
Autodesk *			3,742				801,911
Automatic Data Processing			7,244				1,750,875
Broadcom			6,968				3,275,796
Broadridge Financial Solutions .			1,996				299,520
Cadence Design Systems *			4,724				715,166
CDW			2,328				402,302
Ceridian HCM Holding *			1,949				129,004
Cisco Systems			71,366				3,242,157
Cognizant Technology Solutions, Cl A			9,013				561,059
DXC Technology *			4,796				137,885
Enphase Energy *			2,272				697,504
EPAM Systems *			853				298,550

 

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

238

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Schedule of Investments		October 31, 2022
Global X S&P 500® Catholic Values ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
F5 *			1,183			$	169,063
Fidelity National Information Services .			10,605				880,109
Fiserv *			10,486				1,077,332
FleetCor Technologies *			1,501				279,366
Fortinet *			11,580				661,913
Gartner *			1,384				417,857
Global Payments			4,980				569,015
Hewlett Packard Enterprise			24,387				348,002
HP			16,117				445,152
Intel .			68,966				1,960,703
International Business Machines .			15,420				2,132,432
Intuit .			4,711				2,013,952
Jack Henry & Associates .			1,216				242,057
Juniper Networks .			6,532				199,879
Keysight Technologies *			3,178				553,449
KLA			2,583				817,390
Lam Research			2,438				986,854
Mastercard, Cl A .			14,554				4,776,332
Microchip Technology			9,362				578,010
Micron Technology .			19,354				1,047,051
Microsoft			127,023				29,485,849
Monolithic Power Systems .			781				265,110
Motorola Solutions			2,821				704,432
NetApp .			3,732				258,516
NortonLifeLock			9,738				219,397
NVIDIA .			42,645				5,755,796
ON Semiconductor *			6,687				410,782
Oracle .			25,350				1,979,075
Paychex			5,498				650,468
Paycom Software *			903				312,438
PayPal Holdings *			19,922				1,665,081
PTC *			1,817				214,097
Qorvo *			1,924				165,618
QUALCOMM .			18,892				2,222,833
Roper Technologies			1,703				705,962
Salesforce *			16,766				2,725,984
Seagate Technology Holdings .			3,500				173,810
ServiceNow *			3,427				1,441,876
Skyworks Solutions			2,743				235,925

 

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

239

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Schedule of Investments		October 31, 2022
Global X S&P 500® Catholic Values ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
SolarEdge Technologies *			759			$	174,593
Synopsys *			2,577				753,901
Teledyne Technologies *			830				330,323
Teradyne .			2,832				230,383
Texas Instruments .			15,313				2,459,727
Trimble *			4,295				258,387
Tyler Technologies *			744				240,558
VeriSign *			1,580				316,727
Visa, Cl A .			27,691				5,736,468
Western Digital *			5,625				193,331
Zebra Technologies, Cl A *			939				265,944
							144,184,587
Materials — 2.2%
Air Products & Chemicals .			3,749				938,750
Albemarle			2,114				591,645
Amcor			28,055				324,877
Avery Dennison .			1,486				251,951
Ball			5,565				274,856
Celanese, Cl A .			1,884				181,090
CF Industries Holdings			2,974				316,017
Corteva .			12,444				813,091
Dow			12,696				593,411
DuPont de Nemours .			8,941				511,425
Eastman Chemical .			2,549				195,789
Ecolab			4,304				676,029
FMC .			2,488				295,823
Freeport-McMoRan .			25,071				794,500
International Flavors & Fragrances			4,547				443,833
International Paper .			6,579				221,120
LyondellBasell Industries, Cl A			4,608				352,282
Martin Marietta Materials			1,062				356,811
Mosaic .			6,475				348,031
Newmont			13,650				577,668
Nucor			4,938				648,755
Packaging Corp of America .			1,649				198,226
PPG Industries			4,187				478,072
Sealed Air			2,710				129,050
Sherwin-Williams .			4,174				939,275
Vulcan Materials			2,437				398,937

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

240

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Schedule of Investments		October 31, 2022
Global X S&P 500® Catholic Values ETF

 

		Shares				Value
COMMON STOCK — continued
Materials — continued
Westrock .			4,772			$	162,534
							12,013,848
Real Estate — 2.5%
Alexandria Real Estate Equities ‡			2,428				352,788
American Tower ‡			8,288				1,717,191
AvalonBay Communities ‡			2,553				447,081
Boston Properties ‡			2,753				200,143
Camden Property Trust ‡			1,566				180,951
CBRE Group, Cl A *			5,920				419,965
Crown Castle			7,779				1,036,630
Digital Realty Trust ‡			4,992				500,448
Equinix .			1,585				897,807
Equity Residential ‡			5,980				376,860
Essex Property Trust ‡			1,251				278,022
Extra Space Storage ‡			2,347				416,452
Federal Realty Investment Trust ‡			1,273				126,002
Host Hotels & Resorts ‡			13,600				256,768
Iron Mountain ‡			4,954				248,047
Kimco Realty ‡			10,567				225,922
Mid-America Apartment Communities ‡			2,069				325,764
ProLogis ‡			16,459				1,822,834
Public Storage ‡			2,744				849,954
Realty Income ‡			10,568				658,069
Regency Centers ‡			2,837				171,667
SBA Communications, Cl A			1,990				537,101
Simon Property Group ‡			5,834				635,789
UDR ‡			5,179				205,917
Vornado Realty Trust ‡			3,062				72,233
Welltower ‡			7,780				474,891
Weyerhaeuser ‡			13,948				431,412
							13,866,708
Utilities — 2.9%
AES .			12,252				320,512
Alliant Energy .			4,453				232,313
Ameren .			4,578				373,199
American Electric Power			8,475				745,122
American Water Works			3,129				454,769
Atmos Energy			2,162				230,361

 

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

241

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Schedule of Investments		October 31, 2022
Global X S&P 500® Catholic Values ETF

 

		Shares				Value
COMMON STOCK — continued
Utilities — continued
CenterPoint Energy .			9,888			$	282,896
CMS Energy			5,199				296,603
Consolidated Edison			5,943				522,746
Constellation Energy .			5,556				525,264
Dominion Energy			13,849				969,015
DTE Energy .			3,445				386,219
Duke Energy			13,334				1,242,462
Edison International .			6,450				387,258
Entergy			3,512				376,276
Evergy			4,325				264,387
Eversource Energy .			5,959				454,552
Exelon			16,639				642,099
FirstEnergy			9,506				358,471
NextEra Energy .			33,772				2,617,330
NiSource .			6,409				164,647
NRG Energy			4,848				215,251
Pinnacle West Capital			2,114				142,082
PPL			13,302				352,370
Public Service Enterprise Group .			8,514				477,380
Sempra Energy .			5,487				828,208
Southern			18,158				1,188,986
WEC Energy Group .			5,394				492,634
Xcel Energy			9,620				626,358
							16,169,770
TOTAL UNITED STATES							544,868,326
TOTAL COMMON STOCK
(Cost $508,572,240)							548,776,363
TOTAL INVESTMENTS — 99.9%
(Cost $508,572,240)						$	548,776,363

 

Percentages are based on Net Assets of $549,287,646.

* Non-income producing security.

‡ Real Estate Investment Trust

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

242

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Schedule of Investments		October 31, 2022
Global X S&P 500® Catholic Values ETF

As of October 31, 2022, all of the Fund's investments were considered Level 1, in accordance with authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

See "Glossary" for abbreviations.

 

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

243

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Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — 99.4%
AUSTRALIA — 9.4%
Communication Services — 0.1%
REA Group			24			$	1,866
Telstra Group			2,185				5,477
TPG Telecom			281				881
							8,224
Consumer Discretionary — 0.6%
Aristocrat Leisure .			360				8,534
Flutter Entertainment *			78				10,322
Wesfarmers			598				17,384
							36,240
Consumer Staples — 0.7%
Coles Group .			1,258				13,137
Woolworths Group			1,117				23,585
							36,722
Energy — 0.5%
Santos .			1,596				7,858
Woodside Energy Group			917				21,098
							28,956

 

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

244

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Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — 3.2%
ASX			98			$	4,242
Australia & New Zealand Banking Group			1,468				23,994
Commonwealth Bank of Australia			838				56,094
Insurance Australia Group .			1,247				3,907
Macquarie Group .			178				19,293
National Australia Bank			1,539				31,905
QBE Insurance Group .			767				6,003
Suncorp Group			654				4,772
Westpac Banking .			1,762				27,165
							177,375
Health Care — 0.7%
Cochlear			142				18,134
Sonic Healthcare			1,038				21,751
							39,885
Industrials — 0.4%
Brambles			861				6,431
Reece .			139				1,380
Transurban Group .			1,720				14,584
							22,395
Materials — 2.8%
BHP Group			2,538				60,633
Fortescue Metals Group			906				8,516
Glencore			6,033				34,695
Newcrest Mining .			446				4,948
Rio Tinto .			193				10,885
Rio Tinto .			544				28,417
South32			2,536				5,838
							153,932
Real Estate — 0.3%
Dexus ‡			560				2,779
Goodman Group ‡			870				9,457
Scentre Group ‡			2,686				4,981
							17,217

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

245

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Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
Utilities — 0.1%
APA Group			588			$	3,952
TOTAL AUSTRALIA							524,898
AUSTRIA — 0.3%
Communication Services — 0.0%
Telekom Austria, Cl A .			74				430
Energy — 0.1%
OMV			74				3,411
Financials — 0.1%
BAWAG Group			36				1,741
Erste Group Bank			164				4,046
Raiffeisen Bank International			72				1,001
							6,788
Industrials — 0.1%
ANDRITZ			46				2,140
Information Technology — 0.0%
ams-OSRAM *			145				822
Materials — 0.0%
voestalpine .			59				1,282
Utilities — 0.0%
Verbund			13				1,018
TOTAL AUSTRIA							15,891
BELGIUM — 1.6%
Consumer Staples — 0.8%
Anheuser-Busch InBev			908				45,409
Financials — 0.3%
Groupe Bruxelles Lambert			46				3,392
KBC Group			169				8,468
Sofina			9				1,757
							13,617

 

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

246

---

Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
Health Care — 0.4%
UCB			273			$	20,593
Materials — 0.1%
Solvay			44				3,968
Umicore .			105				3,461
							7,429
TOTAL BELGIUM							87,048
BRAZIL — 0.1%
Materials — 0.1%
Yara International			78				3,481
CHILE — 0.0%
Materials — 0.0%
Antofagasta .			154				2,084
CHINA — 0.9%
Consumer Discretionary — 0.5%
Prosus .			632				27,509
Consumer Staples — 0.2%
Budweiser Brewing APAC			1,400				2,946
Wilmar International .			3,012				8,259
							11,205
Financials — 0.1%
BOC Hong Kong Holdings			1,700				5,284
Health Care — 0.0%
China Evergrande New Energy Vehicle Group
*(A)			5,700				1,278
Utilities — 0.1%
ENN Energy Holdings			400				3,977
TOTAL CHINA							49,253

 

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

247

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Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
DENMARK — 1.5%
Consumer Staples — 0.2%
Carlsberg, Cl B .			93			$	10,964
Health Care — 0.5%
Coloplast, Cl B .			258				28,771
Industrials — 0.7%
AP Moller - Maersk, Cl A .			2				4,004
AP Moller - Maersk, Cl B			3				6,276
DSV			109				14,760
Vestas Wind Systems			566				11,151
							36,191
Utilities — 0.1%
Orsted .			98				8,085
TOTAL DENMARK							84,011
FINLAND — 1.2%
Energy — 0.2%
Neste			216				9,466
Financials — 0.5%
Nordea Bank Abp			1,570				14,992
Sampo, Cl A .			243				11,115
							26,107
Industrials — 0.2%
Kone, Cl B .			227				9,299
Information Technology — 0.2%
Nokia .			2,724				12,134
Materials — 0.1%
Stora Enso, Cl R .			325				4,237
Utilities — 0.0%
Fortum .			227				3,196
TOTAL FINLAND							64,439

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

248

---

Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
FRANCE — 9.2%
Communication Services — 0.0%
Adevinta, Cl B *			146			$	1,000
Consumer Discretionary — 2.3%
Christian Dior			1				619
Hermes International			19				24,609
Kering			38				17,415
LVMH Moet Hennessy Louis Vuitton			138				87,155
							129,798
Consumer Staples — 2.4%
Danone			581				28,907
L'Oreal .			232				72,939
Pernod Ricard			188				33,018
							134,864
Energy — 1.2%
TotalEnergies			1,204				65,568
Financials — 1.0%
AXA .			971				23,992
BNP Paribas .			563				26,428
Credit Agricole .			697				6,328
							56,748
Health Care — 0.5%
EssilorLuxottica			164				25,991
Industrials — 0.7%
Cie de Saint-Gobain .			297				12,153
Vinci .			306				28,181
							40,334
Information Technology — 0.2%
Dassault Systemes			353				11,845
Materials — 0.6%
Air Liquide			260				33,997

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

249

---

Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
Utilities — 0.3%
Electricite de France			282			$	3,330
Engie			893				11,610
							14,940
TOTAL FRANCE							515,085
GERMANY — 7.4%
Communication Services — 0.6%
Deutsche Telekom			1,707				32,332
Consumer Discretionary — 0.9%
adidas			96				9,392
Bayerische Motoren Werke			174				13,675
Mercedes-Benz Group			408				23,630
Volkswagen .			13				2,223
							48,920
Consumer Staples — 0.3%
Beiersdorf			93				8,932
Henkel & KGaA .			92				5,406
							14,338
Financials — 1.2%
Allianz .			197				35,475
Deutsche Boerse .			90				14,646
Muenchener Rueckversicherungs-Gesellschaft
in Muenchen .			69				18,236
							68,357
Health Care — 1.2%
BioNTech ADR			200				27,528
Fresenius Medical Care & KGaA .			459				12,693
Siemens Healthineers .			612				28,175
							68,396
Industrials — 1.3%
Daimler Truck Holding *			282				7,525
Deutsche Post .			563				19,982
Hapag-Lloyd .			5				904

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

250

---

Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — continued
Siemens			428			$	46,802
							75,213
Information Technology — 1.2%
Infineon Technologies			654				15,927
SAP .			546				52,706
							68,633
Materials — 0.4%
BASF			451				20,252
Real Estate — 0.1%
Vonovia			385				8,524
Utilities — 0.2%
E.ON			1,149				9,625
TOTAL GERMANY							414,590
HONG KONG — 2.3%
Financials — 1.4%
AIA Group .			5,765				43,661
Hang Seng Bank .			380				5,349
Hong Kong Exchanges & Clearing			594				15,815
Prudential			1,329				12,406
							77,231
Industrials — 0.3%
Jardine Matheson Holdings			160				7,363
MTR .			900				3,961
Techtronic Industries .			932				8,828
							20,152
Real Estate — 0.4%
CK Asset Holdings			1,000				5,528
Henderson Land Development			700				1,714
Link ‡			1,000				5,911
Sun Hung Kai Properties			790				8,499
							21,652

 

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

251

---

Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
Utilities — 0.2%
CLP Holdings .			800			$	5,371
Hong Kong & China Gas			5,110				3,945
							9,316
TOTAL HONG KONG							128,351
IRELAND — 0.3%
Industrials — 0.1%
Kingspan Group			88				4,444
Materials — 0.2%
CRH			382				13,773
TOTAL IRELAND							18,217
ISRAEL — 0.9%
Communication Services — 0.0%
Bezeq The Israeli Telecommunication .			970				1,725
Consumer Discretionary — 0.0%
Global-e Online, Cl E *			38				961
Consumer Staples — 0.0%
Strauss Group .			47				1,181
Financials — 0.4%
Bank Hapoalim			602				5,833
Bank Leumi Le-Israel			757				7,259
First International Bank of Israel			27				1,171
Israel Discount Bank, Cl A			605				3,459
Mizrahi Tefahot Bank			72				2,735
Plus500 .			54				1,122
							21,579
Industrials — 0.0%
Kornit Digital *			28				748
Shapir Engineering and Industry .			77				637
ZIM Integrated Shipping Services			38				893
							2,278
Information Technology — 0.4%
Check Point Software Technologies *			54				6,979

 

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

252

---

Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
ironSource, Cl A *			97			$	313
JFrog *			36				914
Nice *			34				6,471
Nova *			15				1,106
Tower Semiconductor *			42				1,804
Wix.com *			26				2,187
							19,774
Real Estate — 0.1%
Amot Investments .			6				37
Azrieli Group			22				1,638
Big Shopping Centers			1				113
Melisron			11				820
Mivne Real Estate KD			193				603
							3,211
TOTAL ISRAEL							50,709
ITALY — 2.0%
Consumer Discretionary — 0.3%
Ferrari .			71				14,000
Moncler			113				4,879
PRADA			300				1,366
							20,245
Consumer Staples — 0.1%
Davide Campari-Milano .			516				4,638
Energy — 0.3%
Eni			1,221				15,995
Financials — 0.7%
Assicurazioni Generali .			610				9,158
Intesa Sanpaolo			8,543				16,287
Poste Italiane .			235				2,049
UniCredit .			960				11,906
							39,400
Industrials — 0.1%
Atlantia .			285				6,360

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

253

---

Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
Utilities — 0.5%
Enel .			3,859			$	17,236
Snam			1,091				4,854
Terna - Rete Elettrica Nazionale			726				4,813
							26,903
TOTAL ITALY							113,541
JAPAN — 27.6%
Communication Services — 2.1%
Dentsu Group .			130				4,054
KDDI			790				23,359
Nexon .			248				4,166
Nintendo .			554				22,624
Nippon Telegraph & Telephone			571				15,728
SoftBank .			1,382				13,626
SoftBank Group			611				26,309
Toho			74				2,639
Z Holdings .			1,383				3,579
							116,084
Consumer Discretionary — 4.6%
Aisin .			96				2,464
Bandai Namco Holdings			120				7,946
Bridgestone .			334				12,049
Denso			283				14,071
Fast Retailing			32				17,867
Hikari Tsushin .			4				484
Honda Motor .			954				21,649
Isuzu Motors			365				4,283
Koito Manufacturing			140				1,991
Nissan Motor			1,367				4,363
Nitori Holdings			46				4,189
Oriental Land			126				16,912
Pan Pacific International Holdings			307				5,042
Panasonic Holdings			1,304				9,339
Rakuten Group			496				2,222
Sekisui Chemical .			245				3,066
Sekisui House			369				6,144
Sharp			116				695
Shimano .			48				7,452

 

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

254

---

Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Discretionary — continued
Subaru			342			$	5,328
Sumitomo Electric Industries			426				4,454
Suzuki Motor			280				9,457
Toyota Motor			6,696				92,780
Yamaha .			94				3,554
ZOZO .			84				1,789
							259,590
Consumer Staples — 2.7%
Aeon .			813				15,187
Asahi Group Holdings			480				13,447
Japan Tobacco .			1,042				17,274
Kao			435				16,360
Kirin Holdings			769				11,328
Kobe Bussan			125				2,720
Kose			28				2,801
Nissin Foods Holdings .			78				5,054
Seven & i Holdings			747				27,913
Shiseido .			373				12,936
Suntory Beverage & Food .			124				4,155
Unicharm .			418				12,745
Welcia Holdings			86				1,799
Yakult Honsha .			143				7,928
							151,647
Energy — 0.2%
ENEOS Holdings			1,647				5,428
Inpex			513				5,239
							10,667
Financials — 2.4%
Dai-ichi Life Holdings			487				7,724
Daiwa Securities Group			774				3,020
Japan Exchange Group			277				3,641
Japan Post Bank			199				1,326
Japan Post Insurance .			112				1,656
Mitsubishi UFJ Financial Group .			6,098				28,698
Mizuho Financial Group			1,216				13,139
MS&AD Insurance Group Holdings			248				6,576
Nomura Holdings			1,512				4,901

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

255

---

Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
ORIX .			563			$	8,276
Resona Holdings			1,220				4,594
Sompo Holdings .			185				7,708
Sumitomo Mitsui Financial Group .			662				18,586
Sumitomo Mitsui Trust Holdings .			194				5,582
T&D Holdings			273				2,694
Tokio Marine Holdings			981				17,761
							135,882
Health Care — 5.2%
Eisai			627				37,856
Hoya .			816				76,173
Kyowa Kirin			540				12,734
M3			903				27,010
Otsuka Holdings .			1,214				38,927
Shionogi			602				27,906
Sysmex .			358				19,336
Terumo			1,661				50,556
							290,498
Industrials — 5.4%
ANA Holdings *			84				1,634
Central Japan Railway			121				14,055
Daifuku .			72				3,304
Daikin Industries			170				25,603
East Japan Railway .			215				11,630
FANUC			115				15,188
Hankyu Hanshin Holdings			149				4,426
ITOCHU .			825				21,364
Japan Airlines *			73				1,363
Keio			72				2,529
Komatsu			557				10,673
Kubota			697				9,737
Makita			182				3,330
Marubeni			1,000				8,766
MINEBEA MITSUMI			247				3,663
MISUMI Group .			170				3,637
Mitsubishi Electric .			1,208				10,647
Mitsui .			926				20,515
MonotaRO			148				2,258

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

256

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Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — continued
Nidec .			317			$	17,569
Nihon M&A Center Holdings .			191				2,163
Nippon Yusen .			288				5,230
Odakyu Electric Railway			197				2,345
Recruit Holdings			952				29,399
Secom .			127				7,255
SG Holdings			322				4,272
SMC .			32				12,943
Sumitomo			730				9,309
Taisei .			129				3,519
Tokyu			368				4,249
Toshiba			244				8,505
TOTO .			94				2,688
Toyota Industries			116				5,978
West Japan Railway .			128				5,082
Yamato Holdings .			215				3,188
Yaskawa Electric			153				4,251
							302,267
Information Technology — 3.1%
Advantest .			102				5,394
Canon .			474				10,058
Disco			14				3,363
Fujitsu			97				11,176
GMO Payment Gateway			24				1,733
Itochu Techno-Solutions			36				836
Keyence			96				36,376
Kyocera			183				9,161
Lasertec			46				6,589
Murata Manufacturing			339				16,649
NEC			144				4,771
Nomura Research Institute			217				4,825
NTT Data .			352				5,108
Obic			30				4,515
Omron			107				5,008
Oracle Japan .			22				1,175
Otsuka			54				1,706
Renesas Electronics *			722				6,055
Rohm .			50				3,522
Shimadzu .			146				3,855

 

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

257

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Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
TDK			198			$	6,201
Tokyo Electron .			79				20,989
Trend Micro			70				3,537
							172,602
Materials — 1.0%
Asahi Kasei			733				4,707
JFE Holdings			310				2,843
Mitsubishi Chemical Holdings			630				2,849
Nippon Paint Holdings .			509				3,253
Nippon Sanso Holdings			117				1,867
Nippon Steel			492				6,761
Nitto Denko			82				4,320
Shin-Etsu Chemical			200				20,910
Sumitomo Metal Mining			146				4,108
Toray Industries .			903				4,401
							56,019
Real Estate — 0.7%
Daiwa House Industry .			344				6,971
Hulic			263				1,911
Mitsubishi Estate .			702				8,846
Mitsui Fudosan .			484				9,279
Nippon Prologis ‡			1				2,095
Nomura Real Estate Master Fund ‡			2				2,281
Sumitomo Realty & Development			250				5,744
							37,127
Utilities — 0.2%
Chubu Electric Power			395				3,218
Kansai Electric Power			443				3,359
Osaka Gas .			217				3,215
Tokyo Gas .			204				3,647
							13,439
TOTAL JAPAN							1,545,822
LUXEMBOURG — 0.1%
Materials — 0.1%
ArcelorMittal			318				7,120

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

258

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Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
MACAO — 0.1%
Consumer Discretionary — 0.1%
Galaxy Entertainment Group .			1,120			$	5,115
Sands China *			1,600				2,792
TOTAL MACAO							7,907
NETHERLANDS — 5.9%
Communication Services — 0.1%
Universal Music Group .			355				6,965
Consumer Staples — 0.8%
Heineken			220				18,395
Koninklijke Ahold Delhaize			963				26,888
							45,283
Energy — 1.9%
Shell			3,743				103,600
Financials — 0.4%
EXOR *			51				3,428
ING Groep .			1,812				17,826
							21,254
Health Care — 0.4%
Koninklijke Philips .			1,934				24,501
Information Technology — 2.1%
Adyen *			16				22,971
ASML Holding .			203				95,903
							118,874
Materials — 0.2%
Koninklijke DSM			92				10,848
TOTAL NETHERLANDS							331,325
NEW ZEALAND — 0.6%
Communication Services — 0.0%
Spark New Zealand			983				2,924

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

259

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Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
Health Care — 0.3%
Fisher & Paykel Healthcare .			1,321			$	15,026
Ryman Healthcare			847				4,124
							19,150
Industrials — 0.1%
Auckland International Airport *			706				3,158
Information Technology — 0.1%
Xero *			68				3,395
Utilities — 0.1%
Contact Energy .			387				1,697
Mercury NZ			325				1,099
Meridian Energy .			639				1,812
							4,608
TOTAL NEW ZEALAND							33,235
NORWAY — 1.0%
Communication Services — 0.1%
Schibsted, Cl A .			46				708
Schibsted, Cl B .			52				772
Telenor			341				3,099
							4,579
Consumer Staples — 0.2%
Mowi .			409				6,100
Orkla			705				4,757
Salmar			50				1,694
							12,551
Energy — 0.4%
Aker BP .			150				4,781
Equinor .			502				18,365
Var Energi .			105				358
							23,504
Financials — 0.2%
DNB Bank			470				8,318

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

260

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Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
Gjensidige Forsikring			98			$	1,790
							10,108
Industrials — 0.0%
AutoStore Holdings *			353				666
TOMRA Systems			142				2,295
							2,961
Materials — 0.1%
Norsk Hydro			730				4,633
TOTAL NORWAY							58,336
PORTUGAL — 0.1%
Utilities — 0.1%
Energias de Portugal			1,465				6,407
SINGAPORE — 1.7%
Communication Services — 0.3%
Sea ADR *			176				8,744
Singapore Telecommunications			3,590				6,342
							15,086
Financials — 1.0%
DBS Group Holdings .			935				22,597
Oversea-Chinese Banking			1,994				17,092
United Overseas Bank .			779				15,282
							54,971
Industrials — 0.1%
Singapore Airlines *			863				3,208
Singapore Technologies Engineering			928				2,164
							5,372
Information Technology — 0.2%
STMicroelectronics			325				10,150
Real Estate — 0.1%
CapitaLand Ascendas Real Estate Investment
Trust ‡			1,713				3,172
Capitaland Integrated Commercial Trust ‡			2,234				2,968

 

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

261

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Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
Real Estate — continued
Capitaland Investment			1,229			$	2,614
							8,754
TOTAL SINGAPORE							94,333
SOUTH AFRICA — 0.4%
Materials — 0.4%
Anglo American			661				19,852
SOUTH KOREA — 0.1%
Consumer Discretionary — 0.1%
Delivery Hero *			99				3,263
SPAIN — 2.2%
Communication Services — 0.3%
Cellnex Telecom .			286				9,356
Telefonica			2,711				9,338
							18,694
Consumer Discretionary — 0.2%
Industria de Diseno Textil			596				13,513
Financials — 0.7%
Banco Bilbao Vizcaya Argentaria			3,249				16,727
Banco Santander .			8,280				21,457
							38,184
Industrials — 0.1%
Aena SME *			46				5,417
Information Technology — 0.2%
Amadeus IT Group *			231				12,041
Utilities — 0.7%
EDP Renovaveis .			127				2,675
Endesa .			167				2,787
Iberdrola			2,802				28,455
Naturgy Energy Group .			78				2,001
							35,918
TOTAL SPAIN							123,767

 

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

262

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Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
SWEDEN — 3.7%
Communication Services — 0.1%
Telia			1,324			$	3,505
Consumer Discretionary — 0.2%
Evolution			100				9,348
Volvo Car, Cl B *			238				1,010
							10,358
Consumer Staples — 0.5%
Essity, Cl B			553				11,680
Swedish Match .			1,464				15,050
							26,730
Financials — 0.9%
EQT .			135				2,658
Industrivarden, Cl A .			98				2,219
Industrivarden, Cl C			92				2,066
Investor, Cl A			266				4,523
Investor, Cl B			880				14,363
Kinnevik, Cl A *			1				12
Kinnevik, Cl B *			124				1,532
L E Lundbergforetagen, Cl B .			28				1,105
Skandinaviska Enskilda Banken, Cl A .			837				8,824
Skandinaviska Enskilda Banken, Cl C .			4				46
Svenska Handelsbanken, Cl A			793				7,366
Svenska Handelsbanken, Cl B			22				240
Swedbank, Cl A .			482				7,182
							52,136
Industrials — 1.6%
Alfa Laval .			175				4,309
Assa Abloy, Cl B			555				11,200
Atlas Copco, Cl A .			1,449				15,478
Atlas Copco, Cl B .			858				8,303
Epiroc, Cl A			344				5,263
Epiroc, Cl B			229				3,074
Investment Latour, Cl B .			76				1,284
Nibe Industrier, Cl B .			851				6,785
Sandvik .			612				9,559
Skanska, Cl B .			206				3,203

 

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

263

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Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — continued
SKF, Cl B			199			$	2,878
Volvo, Cl A			92				1,570
Volvo, Cl B			894				14,627
							87,533
Information Technology — 0.3%
Hexagon, Cl B .			1,064				10,514
Telefonaktiebolaget LM Ericsson, Cl B .			1,482				8,235
							18,749
Materials — 0.1%
Alleima *			122				415
Svenska Cellulosa, Cl B .			323				3,809
							4,224
Real Estate — 0.0%
Fastighets Balder, Cl B *			277				1,040
Sagax, Cl B .			69				1,271
Sagax, Cl D .			1				3
							2,314
TOTAL SWEDEN							205,549
SWITZERLAND — 4.1%
Consumer Discretionary — 0.5%
Cie Financiere Richemont, Cl A .			282				27,598
Financials — 1.3%
Partners Group Holding			11				9,886
UBS Group			1,774				28,168
Zurich Insurance Group			75				32,023
							70,077
Health Care — 1.2%
Alcon .			1,092				66,497
Industrials — 0.6%
ABB			973				27,068
Accelleron Industries *			48				814

 

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

264

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Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — continued
Kuehne + Nagel International .			31			$	6,611
							34,493
Materials — 0.5%
Givaudan			4				11,951
Sika			75				16,922
							28,873
TOTAL SWITZERLAND							227,538
UNITED KINGDOM — 9.4%
Communication Services — 0.5%
BT Group, Cl A			3,199				4,781
Vodafone Group			13,439				15,727
WPP			579				5,106
							25,614
Consumer Discretionary — 0.5%
Compass Group .			953				20,151
Entain .			303				4,406
							24,557
Consumer Staples — 2.6%
Associated British Foods .			330				5,127
Coca-Cola Europacific Partners			193				9,081
Diageo .			2,158				89,396
Imperial Brands .			893				21,838
Ocado Group *			614				3,339
Tesco			7,085				17,546
							146,327
Energy — 1.0%
BP			10,117				55,888
Financials — 2.3%
3i Group			471				6,293
Aviva .			1,506				7,250
Barclays .			7,823				13,309
HSBC Holdings .			9,728				50,099
Legal & General Group .			3,082				8,264
Lloyds Banking Group .			33,695				16,301

 

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

265

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Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
London Stock Exchange Group			165			$	14,373
NatWest Group .			2,506				6,775
Standard Chartered			1,280				7,666
							130,330
Health Care — 0.4%
Smith & Nephew .			1,915				22,710
Industrials — 1.4%
Ashtead Group			256				13,411
CK Hutchison Holdings			1,620				8,048
CNH Industrial .			550				7,124
Experian			548				17,502
RELX .			1,151				31,023
							77,108
Materials — 0.1%
Croda International .			71				5,526
Real Estate — 0.1%
Segro ‡			616				5,567
Utilities — 0.5%
National Grid			1,934				21,118
SSE			483				8,653
							29,771
TOTAL UNITED KINGDOM							523,398
UNITED STATES — 5.3%
Communication Services — 0.1%
Spotify Technology *			67				5,399
Consumer Discretionary — 0.3%
Fiverr International *			22				681
Stellantis .			1,189				16,052
							16,733
Health Care — 3.5%
CSL .			1,060				190,115

 

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

266

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Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

		Shares				Value
COMMON STOCK — continued
Health Care — continued
Inmode *			141			$	4,839
							194,954
Industrials — 1.0%
Ferguson .			131				14,344
Schneider Electric .			331				41,959
							56,303
Information Technology — 0.3%
Atlassian, Cl A *			72				14,597
CyberArk Software *			22				3,452
Monday.com *			6				642
Sinch *			274				644
							19,335
Materials — 0.1%
James Hardie Industries			237				5,152
TOTAL UNITED STATES							297,876
TOTAL COMMON STOCK
(Cost $6,542,729)							5,557,326
PREFERRED STOCK — 0.5%
GERMANY— 0.5%
Consumer Discretionary — 0.3%
Bayerische Motoren Werke (B)			26				1,920
Porsche Automobil Holding (B)			79				4,419
Volkswagen (B)			101				12,911
							19,250
Consumer Staples — 0.2%
Henkel & KGaA (B)			166				10,464
TOTAL GERMANY							29,714
TOTAL PREFERRED STOCK
(Cost $44,676)							29,714
TOTAL INVESTMENTS — 99.9%
(Cost $6,587,405)						$	5,587,040

 

Percentages are based on Net Assets of $5,592,322.

* Non-income producing security.

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

267

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Schedule of Investments	October 31, 2022
Global X S&P Catholic Values Developed ex-US ETF

 

‡ Real Estate Investment Trust

(A) Level 3 security in accordance with fair value hierarchy.

(B) There is currently no stated interest rate.

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(1)				Total
Common Stock		$	5,556,048			$	—			$	1,278			$	5,557,326
Preferred Stock			29,714				—				—				29,714
Total Investments in Securities		$	5,585,762			$	—			$	1,278			$	5,587,040

(1) A reconciliation of Level 3 investments and disclosures of significant unobservable inputs are presented when the Fund has a significant amount of Level 3 investments at the end of the period in relation to Net Assets. Management has concluded that Level 3 investments are not material in relation to Net Assets.

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.

268

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Schedule of Investments		October 31, 2022
Global X Guru® Index ETF

 

		Shares				Value
COMMON STOCK — 98.4%
CANADA — 3.3%
Health Care — 1.9%
Repare Therapeutics * (A)			59,021			$	888,856
Industrials — 1.4%
Canadian Pacific Railway			8,468				630,782
TOTAL CANADA							1,519,638
CHINA — 3.0%
Communication Services — 0.5%
Bilibili ADR * (A)			28,299				252,427
Consumer Discretionary — 2.0%
Alibaba Group Holding ADR *			7,513				477,676
JD.com ADR .			12,148				452,999
							930,675
Information Technology — 0.5%
GDS Holdings ADR *			24,176				208,639
TOTAL CHINA							1,391,741

 

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

269

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Schedule of Investments		October 31, 2022
Global X Guru® Index ETF

		Shares				Value
COMMON STOCK — continued
DENMARK — 1.7%
Health Care — 1.7%
Ascendis Pharma ADR *			6,966			$	801,090
ISRAEL — 1.2%
Information Technology — 1.2%
NICE ADR *			3,080				584,861
TAIWAN — 1.0%
Information Technology — 1.0%
Taiwan Semiconductor Manufacturing ADR			7,656				471,227
UNITED KINGDOM — 1.1%
Communication Services — 1.1%
Liberty Global, Cl C *			29,476				520,546
UNITED STATES — 87.1%
Communication Services — 7.5%
Activision Blizzard .			8,511				619,601
Alphabet, Cl C *			5,620				531,989
Charter Communications, Cl A *			1,435				527,535
Liberty Broadband, Cl C *			5,791				488,934
New York Times, Cl A			20,866				604,279
T-Mobile US *			4,748				719,607
							3,491,945
Consumer Discretionary — 11.3%
Amazon.com *			4,757				487,307
Churchill Downs			3,192				663,649
Expedia Group *			5,878				549,416
Floor & Decor Holdings, Cl A *			6,922				507,867
Home Depot .			2,104				623,057
Lithia Motors, Cl A .			2,505				496,366
Lowe's			3,216				626,959
MGM Resorts International .			19,038				677,182
Rivian Automotive, Cl A *			18,008				629,740
							5,261,543

 

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

270

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Schedule of Investments		October 31, 2022
Global X Guru® Index ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Staples — 2.9%
Mondelez International, Cl A .			10,441			$	641,913
Post Holdings *			7,623				689,271
							1,331,184
Energy — 5.1%
Chesapeake Energy .			7,174				733,685
Gulfport Energy *			7,642				684,035
Texas Pacific Land			415				956,106
							2,373,826
Financials — 10.1%
Allstate			5,309				670,261
Arch Capital Group *			14,653				842,547
First American Financial			11,624				585,850
First Horizon .			29,811				730,668
KKR			12,037				585,359
S&P Global .			1,771				568,934
Wells Fargo .			14,950				687,551
							4,671,170
Health Care — 15.0%
Amicus Therapeutics *			58,039				580,390
Bausch Health *			108,245				703,592
Cigna .			2,396				774,052
Fate Therapeutics *			20,928				437,814
Humana			1,406				784,660
Mettler-Toledo International *			507				641,320
Rocket Pharmaceuticals *			38,825				724,475
Seagen *			4,038				513,472
Tenet Healthcare *			10,683				473,898
United Therapeutics *			3,108				716,487
Viatris *			62,369				631,798
							6,981,958
Industrials — 9.3%
Avis Budget Group *			3,550				839,433
Enovix *			27,893				526,341
Ferguson .			5,379				587,710
Howmet Aerospace .			17,780				632,079
Otis Worldwide			8,468				598,179

 

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

271

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Schedule of Investments		October 31, 2022
Global X Guru® Index ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — continued
TransDigm Group .			1,029			$	592,457
Uber Technologies *			21,263				564,958
							4,341,157
Information Technology — 17.6%
Apple .			3,979				610,140
Datadog, Cl A *			6,064				488,213
Elastic *			8,288				530,018
Fidelity National Information Services .			6,652				552,050
Fiserv *			6,219				638,940
GoDaddy, Cl A *			8,258				663,943
Microsoft			2,379				552,237
New Relic *			10,197				604,070
Palo Alto Networks *			3,981				683,100
Pegasystems .			16,467				612,737
SentinelOne, Cl A *			24,324				555,560
Snowflake, Cl A *			4,114				659,474
Unity Software *			12,834				378,603
Visa, Cl A .			3,171				656,904
							8,185,989
Materials — 4.8%
Berry Global Group *			11,248				532,255
Element Solutions .			33,378				574,102
International Flavors & Fragrances			5,528				539,588
Sherwin-Williams .			2,688				604,881
							2,250,826
Real Estate — 3.5%
American Tower ‡			2,473				512,381
ProLogis ‡			5,023				556,297
Zillow Group, Cl C *			18,000				555,480
							1,624,158
TOTAL UNITED STATES							40,513,756
TOTAL COMMON STOCK
(Cost $52,379,479)							45,802,859

 

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

272

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Schedule of Investments		October 31, 2022
Global X Guru® Index ETF

 

 

		Shares				Value
MASTER LIMITED PARTNERSHIP — 1.5%
UNITED STATES— 1.5%
Industrials — 1.5%
Icahn Enterprises (B)
(Cost $584,030)			12,548			$	684,368
SHORT-TERM INVESTMENT(C)(D) — 0.7%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 2.910% (Cost $329,505)			329,505				329,505
		Face Amount
REPURCHASE AGREEMENT(C) — 1.0%
BNP Paribas 2.930%, dated 10/31/2022, to be repurchased on 11/01/2022, repurchase price $457,852 (collateralized by U.S. Treasury Obligations, ranging in par value $9,100 - $53,497, 2.500% - 2.750%, 03/31/2027 - 05/31/2029, with a total market value of $466,413) (Cost $457,815)		$	457,815				457,815
TOTAL INVESTMENTS — 101.6%
(Cost $53,750,829)						$	47,274,547

Percentages are based on Net Assets of $46,535,087.

* Non-income producing security.

‡ Real Estate Investment Trust

(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.

273

---

Schedule of Investments		October 31, 2022
Global X Guru® Index 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		$	45,802,859			$	—			$	—			$	45,802,859
Master Limited Partnership			684,368				—				—				684,368
Short-Term Investment			329,505				—				—				329,505
Repurchase Agreement			—				457,815				—				457,815
Total Investments in Securities		$	46,816,732			$	457,815			$	—			$	47,274,547

 

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.

274

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Tail Risk ETF

		Shares				Value
COMMON STOCK — 99.2%(A)
CHINA — 0.1%
Information Technology — 0.1%
NXP Semiconductors .			26			$	3,798
SWITZERLAND — 0.1%
Information Technology — 0.1%
TE Connectivity			29				3,545
UNITED KINGDOM — 0.5%
Materials — 0.5%
Linde			46				13,678
UNITED STATES — 98.5%
Communication Services — 7.3%
Activision Blizzard .			65				4,732
Alphabet, Cl A *			551				52,075
Alphabet, Cl C *			493				46,667
AT&T			682				12,433
Charter Communications, Cl A *			11				4,044
Comcast, Cl A			404				12,823
DISH Network, Cl A *			26				388

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

275

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Schedule of Investments		October 31, 2022
Global X S&P 500® Tail Risk ETF

 

		Shares				Value
COMMON STOCK — continued
Communication Services — continued
Electronic Arts			26			$	3,275
Fox, Cl A			26				750
Fox, Cl B			13				353
Interpublic Group			39				1,162
Live Nation Entertainment *			13				1,035
Lumen Technologies .			91				670
Match Group *			25				1,080
Meta Platforms, Cl A *			210				19,563
Netflix *			41				11,967
News, Cl A .			39				658
News, Cl B .			13				223
Omnicom Group .			16				1,164
Paramount Global, Cl B			52				953
Take-Two Interactive Software *			14				1,659
T-Mobile US *			57				8,639
Verizon Communications			386				14,425
Walt Disney *			167				17,792
Warner Bros Discovery *			189				2,457
							220,987
Consumer Discretionary — 10.8%
Advance Auto Parts			5				950
Amazon.com *			817				83,693
Aptiv *			26				2,368
AutoZone *			2				5,066
Bath & Body Works .			26				868
Best Buy			22				1,505
Booking Holdings *			4				7,478
BorgWarner .			26				976
Caesars Entertainment *			21				918
CarMax *			13				819
Carnival *			68				616
Chipotle Mexican Grill, Cl A *			3				4,495
Darden Restaurants .			13				1,861
Dollar General .			22				5,611
Dollar Tree *			19				3,011
Domino's Pizza .			3				997
DR Horton			26				1,999
eBay			55				2,191
Etsy *			13				1,221

 

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

276

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Schedule of Investments		October 31, 2022
Global X S&P 500® Tail Risk ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Discretionary — continued
Expedia Group *			13			$	1,215
Ford Motor .			344				4,599
Garmin			13				1,145
General Motors			132				5,181
Genuine Parts .			13				2,312
Hasbro .			13				848
Hilton Worldwide Holdings .			26				3,517
Home Depot .			94				27,836
Las Vegas Sands *			26				988
Lennar, Cl A .			26				2,098
LKQ			26				1,447
Lowe's			59				11,502
Marriott International, Cl A			24				3,843
McDonald's .			68				18,541
MGM Resorts International .			31				1,103
Mohawk Industries *			4				379
Newell Brands .			29				400
NIKE, Cl B			116				10,751
Norwegian Cruise Line Holdings *			29				490
O'Reilly Automotive *			6				5,023
Pool .			4				1,217
PulteGroup .			26				1,040
Ralph Lauren, Cl A .			3				278
Ross Stores			34				3,253
Royal Caribbean Cruises *			22				1,174
Starbucks			104				9,005
Tapestry .			26				824
Target			42				6,898
Tesla *			245				55,747
TJX			107				7,715
Tractor Supply .			9				1,978
Ulta Beauty *			5				2,097
VF .			26				734
Whirlpool			5				691
Wynn Resorts *			13				831
Yum! Brands			26				3,075
							326,418
Consumer Staples — 6.9%
Altria Group .			175				8,097

 

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

277

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Tail Risk ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Staples — continued
Archer-Daniels-Midland			52			$	5,043
Brown-Forman, Cl B			13				884
Campbell Soup .			13				688
Church & Dwight			21				1,557
Clorox			13				1,899
Coca-Cola .			358				21,426
Colgate-Palmolive			78				5,760
Conagra Brands .			39				1,431
Constellation Brands, Cl A			15				3,706
Costco Wholesale			41				20,561
Estee Lauder, Cl A .			23				4,611
General Mills			52				4,242
Hershey			13				3,104
Hormel Foods			26				1,208
J M Smucker .			9				1,356
Kellogg			26				1,997
Keurig Dr Pepper			76				2,952
Kimberly-Clark			30				3,734
Kraft Heinz			73				2,808
Kroger			58				2,743
Lamb Weston Holdings .			13				1,121
McCormick .			22				1,730
Molson Coors Beverage, Cl B			13				656
Mondelez International, Cl A .			126				7,746
Monster Beverage *			35				3,280
PepsiCo			127				23,061
Philip Morris International			142				13,043
Procter & Gamble .			220				29,627
Sysco .			48				4,155
Tyson Foods, Cl A			26				1,777
Walgreens Boots Alliance			65				2,373
Walmart			133				18,930
							207,306
Energy — 5.3%
APA .			29				1,318
Baker Hughes, Cl A			96				2,655
Chevron .			166				30,029
ConocoPhillips .			117				14,753
Coterra Energy			63				1,961

 

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

278

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Tail Risk ETF

 

		Shares				Value
COMMON STOCK — continued
Energy — continued
Devon Energy			60			$	4,641
Diamondback Energy			16				2,514
EOG Resources			52				7,099
EQT .			34				1,423
Exxon Mobil			383				42,440
Halliburton .			78				2,841
Hess			26				3,668
Kinder Morgan			172				3,117
Marathon Oil .			68				2,071
Marathon Petroleum			46				5,227
Occidental Petroleum .			68				4,937
ONEOK			39				2,313
Phillips 66 .			48				5,006
Pioneer Natural Resources			22				5,641
Schlumberger			139				7,232
Targa Resources			21				1,436
Valero Energy .			39				4,896
Williams			107				3,502
							160,720
Financials — 11.3%
Aflac			52				3,386
Allstate			26				3,282
American Express .			55				8,165
American International Group			69				3,933
Ameriprise Financial			10				3,091
Aon, Cl A .			19				5,348
Arch Capital Group *			34				1,955
Arthur J Gallagher			21				3,929
Assurant .			4				543
Bank of America			642				23,138
Bank of New York Mellon			68				2,863
Berkshire Hathaway, Cl B *			166				48,985
BlackRock, Cl A .			14				9,043
Brown & Brown .			22				1,293
Capital One Financial			36				3,817
Cboe Global Markets .			9				1,120
Charles Schwab .			145				11,552
Chubb .			39				8,381
Cincinnati Financial .			13				1,343

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

279

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Tail Risk ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
Citigroup			178			$	8,163
Citizens Financial Group .			39				1,595
CME Group, Cl A .			35				6,065
Comerica			13				917
Discover Financial Services			26				2,716
Everest Re Group			4				1,291
FactSet Research Systems .			3				1,276
Fifth Third Bancorp			65				2,320
First Republic Bank .			16				1,922
Franklin Resources			26				610
Globe Life .			8				924
Goldman Sachs Group			31				10,680
Hartford Financial Services Group .			26				1,883
Huntington Bancshares			130				1,973
Intercontinental Exchange .			49				4,683
Invesco			26				398
JPMorgan Chase .			270				33,988
KeyCorp			81				1,447
Lincoln National .			13				700
Loews .			13				741
M&T Bank .			17				2,862
MarketAxess Holdings .			3				732
Marsh & McLennan .			46				7,429
MetLife .			65				4,759
Moody's .			14				3,708
Morgan Stanley			123				10,107
MSCI, Cl A			7				3,282
Nasdaq .			27				1,680
Northern Trust .			18				1,518
PNC Financial Services Group			37				5,988
Principal Financial Group			26				2,291
Progressive			52				6,677
Prudential Financial .			38				3,997
Raymond James Financial .			18				2,127
Regions Financial .			81				1,778
S&P Global .			31				9,959
Signature Bank NY .			5				793
State Street .			32				2,368
SVB Financial Group *			5				1,155

 

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

280

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Tail Risk ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
Synchrony Financial			44			$	1,565
T Rowe Price Group			18				1,911
Travelers .			21				3,874
Truist Financial			130				5,823
US Bancorp .			120				5,094
W R Berkley			19				1,413
Wells Fargo .			348				16,005
Willis Towers Watson			11				2,400
Zions Bancorp .			13				675
							341,429
Health Care — 15.2%
Abbott Laboratories .			161				15,929
AbbVie			162				23,717
ABIOMED *			4				1,008
Agilent Technologies			26				3,597
Align Technology *			6				1,166
AmerisourceBergen, Cl A .			13				2,044
Amgen .			49				13,247
Baxter International			47				2,554
Becton Dickinson			26				6,135
Biogen *			13				3,685
Bio-Rad Laboratories, Cl A *			2				703
Bio-Techne			4				1,185
Boston Scientific *			130				5,604
Bristol-Myers Squibb .			196				15,184
Cardinal Health			26				1,973
Catalent *			19				1,249
Centene *			52				4,427
Charles River Laboratories International *			4				849
Cigna .			28				9,046
Cooper .			4				1,094
CVS Health .			121				11,459
Danaher			59				14,849
DaVita *			5				365
DENTSPLY SIRONA .			16				493
Dexcom *			36				4,348
Edwards Lifesciences *			56				4,056
Elevance Health			22				12,029
Eli Lilly			73				26,433

 

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

281

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Tail Risk ETF

 

		Shares				Value
COMMON STOCK — continued
Health Care — continued
Gilead Sciences			115			$	9,023
HCA Healthcare			21				4,567
Henry Schein *			13				890
Hologic *			26				1,763
Humana			12				6,697
IDEXX Laboratories *			8				2,877
Illumina *			13				2,975
Incyte *			13				966
Intuitive Surgical *			33				8,134
IQVIA Holdings *			18				3,774
Johnson & Johnson .			244				42,449
Laboratory Corp of America Holdings			8				1,775
McKesson			13				5,062
Medtronic			122				10,655
Merck .			233				23,580
Mettler-Toledo International *			2				2,530
Moderna *			31				4,660
Molina Healthcare *			5				1,794
Organon .			26				681
PerkinElmer			11				1,469
Pfizer			516				24,020
Quest Diagnostics .			10				1,436
Regeneron Pharmaceuticals *			10				7,487
ResMed			13				2,908
STERIS			10				1,726
Stryker .			30				6,877
Teleflex			4				858
Thermo Fisher Scientific			36				18,503
UnitedHealth Group			86				47,743
Universal Health Services, Cl B .			8				927
Vertex Pharmaceuticals *			23				7,176
Viatris *			107				1,084
Waters *			5				1,496
West Pharmaceutical Services			7				1,611
Zimmer Biomet Holdings .			18				2,040
Zoetis, Cl A .			43				6,484
							457,125
Industrials — 8.2%
3M			52				6,541

 

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

282

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Tail Risk ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — continued
A O Smith .			13			$	712
Alaska Air Group *			13				578
Allegion .			9				943
American Airlines Group *			55				780
AMETEK			22				2,853
Boeing *			54				7,696
Carrier Global			79				3,141
Caterpillar .			48				10,390
CH Robinson Worldwide			13				1,270
Cintas			8				3,420
Copart *			21				2,415
CoStar Group *			36				2,978
CSX			198				5,754
Cummins			13				3,179
Deere .			26				10,291
Delta Air Lines *			55				1,866
Dover			13				1,699
Eaton			39				5,853
Emerson Electric			52				4,503
Equifax .			10				1,695
Expeditors International of Washington .			13				1,272
Fastenal			52				2,513
FedEx .			21				3,366
Fortive .			29				1,853
Fortune Brands Home & Security .			13				784
Generac Holdings *			5				580
General Dynamics			20				4,996
General Electric .			100				7,781
Honeywell International .			62				12,649
Howmet Aerospace .			39				1,386
Huntington Ingalls Industries			4				1,028
IDEX .			6				1,334
Illinois Tool Works			26				5,552
Ingersoll Rand .			39				1,970
Jacobs Solutions .			13				1,498
JB Hunt Transport Services			7				1,198
Johnson Controls International			65				3,760
L3Harris Technologies .			17				4,190
Leidos Holdings			13				1,321

 

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

283

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Tail Risk ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — continued
Lockheed Martin			22			$	10,707
Masco .			26				1,203
Nordson .			5				1,125
Norfolk Southern .			21				4,789
Northrop Grumman			13				7,137
Old Dominion Freight Line			9				2,471
Otis Worldwide			39				2,755
PACCAR			35				3,389
Parker-Hannifin			11				3,197
Pentair			13				558
Quanta Services .			13				1,847
Raytheon Technologies			136				12,896
Republic Services, Cl A			18				2,387
Robert Half International			9				688
Rockwell Automation			11				2,808
Rollins .			16				673
Snap-On .			5				1,110
Southwest Airlines *			52				1,890
Stanley Black & Decker .			13				1,020
Textron			16				1,095
Trane Technologies .			20				3,193
TransDigm Group .			5				2,879
Union Pacific			57				11,237
United Airlines Holdings *			26				1,120
United Parcel Service, Cl B .			67				11,241
United Rentals *			6				1,894
Verisk Analytics, Cl A .			13				2,377
Waste Management .			34				5,385
Westinghouse Air Brake Technologies			13				1,213
WW Grainger .			4				2,337
Xylem .			17				1,741
							245,950
Information Technology — 25.9%
Accenture, Cl A			58				16,466
Adobe *			44				14,014
Advanced Micro Devices *			148				8,889
Akamai Technologies *			13				1,148
Amphenol, Cl A .			52				3,943
Analog Devices			48				6,846

 

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

284

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Tail Risk ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
ANSYS *			7			$	1,548
Apple .			1,390				213,143
Applied Materials .			80				7,063
Arista Networks *			20				2,417
Autodesk *			19				4,072
Automatic Data Processing			38				9,185
Broadcom			37				17,394
Broadridge Financial Solutions .			10				1,501
Cadence Design Systems *			26				3,936
CDW			13				2,247
Ceridian HCM Holding *			12				794
Cisco Systems			380				17,263
Cognizant Technology Solutions, Cl A			49				3,050
Corning .			65				2,091
DXC Technology *			26				747
Enphase Energy *			13				3,991
EPAM Systems *			5				1,750
F5 *			4				572
Fidelity National Information Services .			60				4,979
Fiserv *			59				6,062
FleetCor Technologies *			7				1,303
Fortinet *			60				3,430
Gartner *			8				2,415
Global Payments			26				2,971
Hewlett Packard Enterprise			117				1,670
HP			92				2,541
Intel .			389				11,059
International Business Machines .			86				11,893
Intuit .			26				11,115
Jack Henry & Associates .			8				1,592
Juniper Networks .			26				796
Keysight Technologies *			16				2,786
KLA			13				4,114
Lam Research			13				5,262
Mastercard, Cl A .			78				25,598
Microchip Technology			52				3,210
Micron Technology .			109				5,897
Microsoft			686				159,241
Monolithic Power Systems .			4				1,358

 

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

285

---

 

Schedule of Investments		October 31, 2022
Global X S&P 500® Tail Risk ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
Motorola Solutions			15			$	3,746
NetApp .			22				1,524
NortonLifeLock			52				1,172
NVIDIA .			230				31,043
ON Semiconductor *			45				2,764
Oracle .			139				10,852
Paychex			32				3,786
Paycom Software *			4				1,384
PayPal Holdings *			106				8,859
PTC *			9				1,060
Qorvo *			9				775
QUALCOMM .			103				12,119
Roper Technologies			9				3,731
Salesforce *			94				15,283
Seagate Technology Holdings .			18				894
ServiceNow *			19				7,994
Skyworks Solutions			13				1,118
SolarEdge Technologies *			4				920
Synopsys *			15				4,388
Teledyne Technologies *			4				1,592
Teradyne .			13				1,058
Texas Instruments .			84				13,493
Trimble *			26				1,564
Tyler Technologies *			3				970
VeriSign *			10				2,005
Visa, Cl A .			150				31,074
Western Digital *			26				894
Zebra Technologies, Cl A *			4				1,133
							780,557
Materials — 2.1%
Air Products & Chemicals .			22				5,509
Albemarle			12				3,358
Amcor			133				1,540
Avery Dennison .			9				1,526
Ball			26				1,284
Celanese, Cl A .			8				769
CF Industries Holdings			16				1,700
Corteva .			65				4,247
Dow			65				3,038

 

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

286

---

 

Schedule of Investments		October 31, 2022
Global X S&P 500® Tail Risk ETF

 

		Shares				Value
COMMON STOCK — continued
Materials — continued
DuPont de Nemours .			45			$	2,574
Eastman Chemical .			13				998
Ecolab			22				3,455
FMC .			13				1,546
Freeport-McMoRan .			130				4,120
International Flavors & Fragrances			22				2,147
International Paper .			39				1,311
LyondellBasell Industries, Cl A			26				1,988
Martin Marietta Materials			6				2,016
Mosaic .			33				1,774
Newmont			78				3,301
Nucor			26				3,416
Packaging Corp of America .			10				1,202
PPG Industries			23				2,626
Sealed Air			13				619
Sherwin-Williams .			23				5,176
Vulcan Materials			13				2,128
Westrock .			26				886
							64,254
Real Estate — 2.6%
Alexandria Real Estate Equities ‡			13				1,889
American Tower ‡			42				8,702
AvalonBay Communities ‡			13				2,277
Boston Properties ‡			13				945
Camden Property Trust ‡			10				1,155
CBRE Group, Cl A *			26				1,844
Crown Castle			39				5,197
Digital Realty Trust ‡			26				2,606
Equinix .			8				4,531
Equity Residential ‡			35				2,206
Essex Property Trust ‡			5				1,111
Extra Space Storage ‡			13				2,307
Federal Realty Investment Trust ‡			5				495
Healthpeak Properties ‡			52				1,234
Host Hotels & Resorts ‡			65				1,227
Invitation Homes ‡			53				1,680
Iron Mountain ‡			26				1,302
Kimco Realty ‡			52				1,112
Mid-America Apartment Communities ‡			9				1,417

 

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

287

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Schedule of Investments		October 31, 2022
Global X S&P 500® Tail Risk ETF

 

		Shares				Value
COMMON STOCK — continued
Real Estate — continued
ProLogis ‡			88			$	9,746
Public Storage ‡			15				4,646
Realty Income ‡			51				3,176
Regency Centers ‡			13				787
SBA Communications, Cl A			9				2,429
Simon Property Group ‡			33				3,596
UDR ‡			26				1,034
Ventas ‡			42				1,643
VICI Properties ‡			99				3,170
Vornado Realty Trust ‡			13				307
Welltower ‡			39				2,381
Weyerhaeuser ‡			65				2,010
							78,162
Utilities — 2.9%
AES .			55				1,439
Alliant Energy .			26				1,356
Ameren .			26				2,119
American Electric Power			47				4,132
American Water Works			16				2,325
Atmos Energy			13				1,385
CenterPoint Energy .			52				1,488
CMS Energy			26				1,483
Consolidated Edison			31				2,727
Constellation Energy .			30				2,836
Dominion Energy			75				5,248
DTE Energy .			17				1,906
Duke Energy			71				6,616
Edison International .			40				2,402
Entergy			17				1,821
Evergy			19				1,161
Eversource Energy .			31				2,365
Exelon			90				3,473
FirstEnergy			52				1,961
NextEra Energy .			180				13,950
NiSource .			39				1,002
NRG Energy			26				1,154
PG&E *			148				2,210
Pinnacle West Capital			13				874
PPL			65				1,722

 

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

288

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Schedule of Investments		October 31, 2022
Global X S&P 500® Tail Risk ETF

 

		Shares				Value
COMMON STOCK — continued
Utilities — continued
Public Service Enterprise Group .			42			$	2,355
Sempra Energy .			31				4,679
Southern			97				6,352
WEC Energy Group .			26				2,375
Xcel Energy			52				3,386
							88,302
TOTAL UNITED STATES							2,971,210
TOTAL COMMON STOCK
(Cost $3,402,408)							2,992,231
PURCHASED OPTIONS — 0.7%
(Cost $54,657)							20,828
TOTAL INVESTMENTS — 99.9%
(Cost $3,457,065)						$	3,013,059

 

Percentages are based on Net Assets of $3,017,408.

A list of the exchange traded option contracts held by the Fund at October 31, 2022, is as follows:

Description		Number of Contracts				Notional Amount				Exercise Price			Expiration Date		Value
PURCHASED OPTIONS — 0.7%
Put Options
Mini-SPX Index			7			$	242,900			$	347.00		12/16/22		$	1,928
S&P 500 Index			7				2,429,000				3,470.00		12/16/22			18,900
Total Purchased Options						$	2,671,900								$	20,828

* Non-income producing security.

‡ Real Estate Investment Trust

(A) All or a portion of these securities has been segregated as collateral for options contracts. The aggregate market value of collateral at October 31, 2022 was $2,992,231.

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

289

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Schedule of Investments		October 31, 2022
Global X S&P 500® Tail Risk 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		$	2,992,231			$	—			$	—			$	2,992,231
Purchased Options			20,828				—				—				20,828
Total Investments in Securities		$	3,013,059			$	—			$	—			$	3,013,059

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.

290

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Schedule of Investments		October 31, 2022
Global X S&P 500® Risk Managed Income ETF

 

		Shares				Value
COMMON STOCK — 105.7%(A)
CHINA — 0.1%
Information Technology — 0.1%
NXP Semiconductors .			216			$	31,553
SWITZERLAND — 0.1%
Information Technology — 0.1%
TE Connectivity			257				31,413
UNITED KINGDOM — 0.5%
Materials — 0.5%
Linde			393				116,859
UNITED STATES — 105.0%
Communication Services — 7.8%
Activision Blizzard .			547				39,822
Alphabet, Cl A *			4,810				454,593
Alphabet, Cl C *			4,302				407,227
AT&T			5,622				102,489
Charter Communications, Cl A *			86				31,615
Comcast, Cl A			3,474				110,265
DISH Network, Cl A *			234				3,489

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

291

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Risk Managed Income ETF

 

		Shares				Value
COMMON STOCK — continued
Communication Services — continued
Electronic Arts			234			$	29,475
Fox, Cl A			234				6,756
Fox, Cl B			117				3,182
Interpublic Group			351				10,456
Live Nation Entertainment *			117				9,314
Lumen Technologies .			749				5,513
Match Group *			234				10,109
Meta Platforms, Cl A *			1,833				170,762
Netflix *			351				102,450
News, Cl A .			330				5,567
News, Cl B .			117				2,004
Omnicom Group .			134				9,749
Paramount Global, Cl B			468				8,574
Take-Two Interactive Software *			126				14,928
T-Mobile US *			475				71,991
Verizon Communications			3,312				123,769
Walt Disney *			1,468				156,401
Warner Bros Discovery *			1,855				24,115
							1,914,615
Consumer Discretionary — 11.5%
Advance Auto Parts			53				10,066
Amazon.com *			7,105				727,836
Aptiv *			234				21,310
AutoZone *			15				37,993
Bath & Body Works .			235				7,844
Best Buy			161				11,014
Booking Holdings *			32				59,823
BorgWarner .			234				8,782
Caesars Entertainment *			130				5,685
CarMax *			117				7,372
Carnival *			632				5,726
Chipotle Mexican Grill, Cl A *			21				31,465
Darden Restaurants .			105				15,030
Dollar General .			185				47,184
Dollar Tree *			164				25,994
Domino's Pizza .			24				7,974
DR Horton			267				20,527
eBay			489				19,482
Etsy *			111				10,424

 

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

292

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Risk Managed Income ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Discretionary — continued
Expedia Group *			117			$	10,936
Ford Motor .			3,120				41,714
Garmin			117				10,301
General Motors			1,169				45,883
Genuine Parts .			117				20,810
Hasbro .			117				7,634
Hilton Worldwide Holdings .			225				30,434
Home Depot .			826				244,603
Las Vegas Sands *			230				8,742
Lennar, Cl A .			216				17,431
LKQ			234				13,020
Lowe's			516				100,594
Marriott International, Cl A			218				34,904
McDonald's .			592				161,415
MGM Resorts International .			271				9,639
Mohawk Industries *			23				2,179
Newell Brands .			320				4,419
NIKE, Cl B			997				92,402
Norwegian Cruise Line Holdings *			333				5,624
NVR *			2				8,476
O'Reilly Automotive *			52				43,533
Pool .			27				8,214
PulteGroup .			202				8,078
Ralph Lauren, Cl A .			31				2,873
Ross Stores			274				26,219
Royal Caribbean Cruises *			208				11,103
Starbucks			906				78,451
Tapestry .			234				7,413
Target			366				60,116
Tesla *			2,137				486,253
TJX			925				66,693
Tractor Supply .			98				21,537
Ulta Beauty *			43				18,033
VF .			234				6,611
Whirlpool			34				4,700
Wynn Resorts *			91				5,815
Yum! Brands			234				27,671
							2,836,004

 

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

293

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Risk Managed Income ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Staples — 7.4%
Altria Group .			1,421			$	65,750
Archer-Daniels-Midland			457				44,320
Brown-Forman, Cl B			149				10,132
Campbell Soup .			162				8,571
Church & Dwight			207				15,345
Clorox			104				15,188
Coca-Cola .			3,131				187,390
Colgate-Palmolive			659				48,661
Conagra Brands .			347				12,735
Constellation Brands, Cl A			129				31,873
Costco Wholesale			356				178,534
Estee Lauder, Cl A .			189				37,893
General Mills			488				39,811
Hershey			117				27,936
Hormel Foods			234				10,869
J M Smucker .			99				14,915
Kellogg			213				16,363
Keurig Dr Pepper			626				24,314
Kimberly-Clark			266				33,106
Kraft Heinz			659				25,352
Kroger			527				24,922
Lamb Weston Holdings .			117				10,088
McCormick .			211				16,593
Molson Coors Beverage, Cl B			117				5,900
Mondelez International, Cl A .			1,082				66,521
Monster Beverage *			306				28,678
PepsiCo			1,110				201,554
Philip Morris International			1,222				112,241
Procter & Gamble .			1,920				258,566
Sysco .			408				35,316
Tyson Foods, Cl A			234				15,994
Walgreens Boots Alliance			585				21,353
Walmart			1,147				163,253
							1,810,037
Energy — 5.7%
APA .			268				12,183
Baker Hughes, Cl A			788				21,796
Chevron .			1,447				261,762
ConocoPhillips .			1,005				126,721

 

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

294

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Risk Managed Income ETF

 

		Shares				Value
COMMON STOCK — continued
Energy — continued
Coterra Energy			661			$	20,577
Devon Energy			535				41,382
Diamondback Energy			131				20,581
EOG Resources			463				63,209
EQT .			287				12,008
Exxon Mobil			3,345				370,659
Halliburton .			698				25,421
Hess			234				33,013
Kinder Morgan			1,523				27,597
Marathon Oil .			607				18,483
Marathon Petroleum			392				44,539
Occidental Petroleum .			630				45,738
ONEOK			351				20,821
Phillips 66 .			380				39,630
Pioneer Natural Resources			189				48,462
Schlumberger			1,141				59,366
Targa Resources			177				12,102
Valero Energy .			321				40,302
Williams			963				31,519
							1,397,871
Financials — 12.1%
Aflac			468				30,471
Allstate			200				25,250
American Express .			473				70,217
American International Group			640				36,480
Ameriprise Financial			92				28,439
Aon, Cl A .			172				48,416
Arch Capital Group *			295				16,963
Arthur J Gallagher			158				29,559
Assurant .			48				6,521
Bank of America			5,621				202,581
Bank of New York Mellon			605				25,477
Berkshire Hathaway, Cl B *			1,448				427,290
BlackRock, Cl A .			119				76,863
Brown & Brown .			178				10,465
Capital One Financial			289				30,640
Cboe Global Markets .			102				12,699
Charles Schwab .			1,204				95,923
Chubb .			330				70,914

 

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

295

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Risk Managed Income ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
Cincinnati Financial .			117			$	12,088
Citigroup			1,528				70,074
Citizens Financial Group .			348				14,233
CME Group, Cl A .			292				50,604
Comerica			117				8,249
Discover Financial Services			234				24,444
Everest Re Group			27				8,712
FactSet Research Systems .			26				11,063
Fifth Third Bancorp			564				20,129
First Republic Bank .			139				16,694
Franklin Resources			234				5,487
Globe Life .			87				10,050
Goldman Sachs Group			269				92,673
Hartford Financial Services Group .			273				19,768
Huntington Bancshares			1,145				17,381
Intercontinental Exchange .			441				42,146
Invesco			234				3,585
JPMorgan Chase .			2,355				296,447
KeyCorp			726				12,974
Lincoln National .			117				6,303
Loews .			157				8,952
M&T Bank .			137				23,067
MarketAxess Holdings .			26				6,345
Marsh & McLennan .			405				65,403
MetLife .			530				38,801
Moody's .			128				33,903
Morgan Stanley			1,082				88,908
MSCI, Cl A			66				30,945
Nasdaq .			297				18,485
Northern Trust .			162				13,665
PNC Financial Services Group			324				52,433
Principal Financial Group			202				17,802
Progressive			462				59,321
Prudential Financial .			297				31,241
Raymond James Financial .			157				18,548
Regions Financial .			726				15,936
S&P Global .			275				88,344
Signature Bank NY .			43				6,817
State Street .			302				22,348

 

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

296

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Risk Managed Income ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
SVB Financial Group *			46			$	10,624
Synchrony Financial			400				14,224
T Rowe Price Group			177				18,790
Travelers .			194				35,785
Truist Financial			1,047				46,895
US Bancorp .			1,068				45,337
W R Berkley			157				11,678
Wells Fargo .			2,992				137,602
Willis Towers Watson			97				21,166
Zions Bancorp .			117				6,077
							2,977,714
Health Care — 16.1%
Abbott Laboratories .			1,381				136,636
AbbVie			1,421				208,034
ABIOMED *			31				7,814
Agilent Technologies			236				32,651
Align Technology *			53				10,298
AmerisourceBergen, Cl A .			117				18,395
Amgen .			422				114,088
Baxter International			404				21,957
Becton Dickinson			225				53,093
Biogen *			117				33,162
Bio-Rad Laboratories, Cl A *			13				4,572
Bio-Techne			27				7,999
Boston Scientific *			1,147				49,447
Bristol-Myers Squibb .			1,684				130,459
Cardinal Health			234				17,761
Catalent *			147				9,662
Centene *			431				36,691
Charles River Laboratories International *			45				9,551
Cigna .			241				77,857
Cooper .			33				9,022
CVS Health .			1,036				98,109
Danaher			516				129,862
DaVita *			24				1,752
DENTSPLY SIRONA .			141				4,346
Dexcom *			315				38,046
Edwards Lifesciences *			500				36,215
Elevance Health			194				106,073

 

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

297

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Risk Managed Income ETF

 

		Shares				Value
COMMON STOCK — continued
Health Care — continued
Eli Lilly			634			$	229,565
Gilead Sciences			989				77,597
HCA Healthcare			175				38,057
Henry Schein *			117				8,010
Hologic *			210				14,238
Humana			103				57,482
IDEXX Laboratories *			61				21,940
Illumina *			126				28,831
Incyte *			153				11,374
Intuitive Surgical *			289				71,230
IQVIA Holdings *			146				30,612
Johnson & Johnson .			2,110				367,077
Laboratory Corp of America Holdings			81				17,971
McKesson			117				45,556
Medtronic			1,048				91,532
Merck .			2,037				206,144
Mettler-Toledo International *			18				22,769
Moderna *			272				40,890
Molina Healthcare *			46				16,508
Organon .			234				6,126
PerkinElmer			107				14,293
Pfizer			4,512				210,034
Quest Diagnostics .			101				14,509
Regeneron Pharmaceuticals *			83				62,146
ResMed			117				26,172
STERIS			84				14,497
Stryker .			266				60,978
Teleflex			32				6,866
Thermo Fisher Scientific			315				161,901
UnitedHealth Group			751				416,918
Universal Health Services, Cl B .			46				5,330
Vertex Pharmaceuticals *			203				63,336
Viatris *			960				9,725
Waters *			51				15,258
West Pharmaceutical Services			51				11,735
Zimmer Biomet Holdings .			163				18,476
Zoetis, Cl A .			369				55,638
							3,974,873

 

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

298

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Risk Managed Income ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — 8.7%
3M			450			$	56,605
A O Smith .			117				6,409
Alaska Air Group *			117				5,202
Allegion .			82				8,591
American Airlines Group *			492				6,977
AMETEK			179				23,209
Boeing *			441				62,847
Carrier Global			683				27,156
Caterpillar .			427				92,428
CH Robinson Worldwide			117				11,433
Cintas			71				30,356
Copart *			173				19,898
CoStar Group *			314				25,974
CSX			1,690				49,111
Cummins			117				28,608
Deere .			220				87,080
Delta Air Lines *			492				16,694
Dover			117				15,291
Eaton			324				48,623
Emerson Electric			483				41,828
Equifax .			88				14,920
Expeditors International of Washington .			139				13,601
Fastenal			468				22,618
FedEx .			196				31,415
Fortive .			296				18,914
Fortune Brands Home & Security .			117				7,057
Generac Holdings *			43				4,984
General Dynamics			183				45,713
General Electric .			865				67,306
Honeywell International .			532				108,539
Howmet Aerospace .			329				11,696
Huntington Ingalls Industries			27				6,941
IDEX .			64				14,228
Illinois Tool Works			223				47,617
Ingersoll Rand .			351				17,725
Jacobs Solutions .			117				13,481
JB Hunt Transport Services			74				12,659
Johnson Controls International			564				32,622
L3Harris Technologies .			148				36,478

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

299

---

 

Schedule of Investments		October 31, 2022
Global X S&P 500® Risk Managed Income ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — continued
Leidos Holdings			117			$	11,886
Lockheed Martin			191				92,956
Masco .			202				9,347
Nordson .			47				10,575
Norfolk Southern .			192				43,789
Northrop Grumman			115				63,136
Old Dominion Freight Line			66				18,124
Otis Worldwide			351				24,795
PACCAR			272				26,338
Parker-Hannifin			106				30,806
Pentair			117				5,025
Quanta Services .			117				16,619
Raytheon Technologies			1,165				110,465
Republic Services, Cl A			157				20,821
Robert Half International			95				7,264
Rockwell Automation			100				25,530
Rollins .			203				8,542
Snap-On .			36				7,994
Southwest Airlines *			468				17,012
Stanley Black & Decker .			117				9,183
Textron			154				10,540
Trane Technologies .			172				27,456
TransDigm Group .			38				21,879
Union Pacific			492				96,993
United Airlines Holdings *			234				10,081
United Parcel Service, Cl B .			577				96,803
United Rentals *			51				16,101
Verisk Analytics, Cl A .			132				24,134
Waste Management .			306				48,461
Westinghouse Air Brake Technologies			140				13,059
WW Grainger .			36				21,037
Xylem .			147				15,057
							2,154,642
Information Technology — 27.5%
Accenture, Cl A			499				141,666
Adobe *			369				117,527
Advanced Micro Devices *			1,274				76,516
Akamai Technologies *			117				10,335
Amphenol, Cl A .			470				35,640

 

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

300

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Risk Managed Income ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
Analog Devices			421			$	60,043
ANSYS *			78				17,251
Apple .			12,105				1,856,181
Applied Materials .			687				60,655
Arista Networks *			181				21,876
Autodesk *			178				38,145
Automatic Data Processing			328				79,278
Broadcom			319				149,968
Broadridge Financial Solutions .			84				12,605
Cadence Design Systems *			224				33,911
CDW			117				20,219
Ceridian HCM Holding *			117				7,744
Cisco Systems			3,334				151,464
Cognizant Technology Solutions, Cl A			415				25,834
Corning .			581				18,691
DXC Technology *			235				6,756
Enphase Energy *			107				32,849
EPAM Systems *			45				15,750
F5 *			53				7,574
Fidelity National Information Services .			480				39,835
Fiserv *			505				51,884
FleetCor Technologies *			59				10,981
Fortinet *			534				30,523
Gartner *			58				17,511
Global Payments			234				26,737
Hewlett Packard Enterprise			1,028				14,670
HP			852				23,532
Intel .			3,240				92,113
International Business Machines .			712				98,462
Intuit .			223				95,333
Jack Henry & Associates .			52				10,351
Juniper Networks .			234				7,160
Keysight Technologies *			148				25,774
KLA			121				38,290
Lam Research			112				45,335
Mastercard, Cl A .			686				225,131
Microchip Technology			455				28,092
Micron Technology .			871				47,121
Microsoft			5,977				1,387,441

 

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

301

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Schedule of Investments		October 31, 2022
Global X S&P 500® Risk Managed Income ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
Monolithic Power Systems .			38			$	12,899
Motorola Solutions			132				32,962
NetApp .			156				10,806
NortonLifeLock			468				10,544
NVIDIA .			2,012				271,560
ON Semiconductor *			370				22,729
Oracle .			1,198				93,528
Paychex			256				30,287
Paycom Software *			33				11,418
PayPal Holdings *			913				76,309
PTC *			93				10,958
Qorvo *			107				9,211
QUALCOMM .			886				104,247
Roper Technologies			87				36,065
Salesforce *			785				127,633
Seagate Technology Holdings .			159				7,896
ServiceNow *			159				66,898
Skyworks Solutions			117				10,063
SolarEdge Technologies *			38				8,741
Synopsys *			124				36,276
Teledyne Technologies *			40				15,919
Teradyne .			117				9,518
Texas Instruments .			721				115,814
Trimble *			210				12,634
Tyler Technologies *			36				11,640
VeriSign *			82				16,438
Visa, Cl A .			1,314				272,208
Western Digital *			234				8,043
Zebra Technologies, Cl A *			36				10,196
							6,778,194
Materials — 2.3%
Air Products & Chemicals .			181				45,322
Albemarle			97				27,147
Amcor			1,194				13,827
Avery Dennison .			72				12,208
Ball			267				13,187
Celanese, Cl A .			95				9,131
CF Industries Holdings			156				16,577
Corteva .			585				38,224

 

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

302

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Schedule of Investments		October 31, 2022
Global X S&P 500® Risk Managed Income ETF

 

		Shares				Value
COMMON STOCK — continued
Materials — continued
Dow			585			$	27,343
DuPont de Nemours .			407				23,280
Eastman Chemical .			117				8,987
Ecolab			204				32,042
FMC .			117				13,911
Freeport-McMoRan .			1,131				35,841
International Flavors & Fragrances			184				17,960
International Paper .			291				9,781
LyondellBasell Industries, Cl A			217				16,590
Martin Marietta Materials			52				17,471
Mosaic .			291				15,641
Newmont			642				27,170
Nucor			222				29,166
Packaging Corp of America .			86				10,338
PPG Industries			171				19,525
Sealed Air			105				5,000
Sherwin-Williams .			193				43,431
Vulcan Materials			117				19,153
Westrock .			234				7,970
							556,223
Real Estate — 2.8%
Alexandria Real Estate Equities ‡			117				17,000
American Tower ‡			367				76,039
AvalonBay Communities ‡			117				20,489
Boston Properties ‡			117				8,506
Camden Property Trust ‡			91				10,515
CBRE Group, Cl A *			259				18,374
Crown Castle			342				45,575
Digital Realty Trust ‡			234				23,459
Equinix .			73				41,350
Equity Residential ‡			268				16,889
Essex Property Trust ‡			55				12,223
Extra Space Storage ‡			97				17,212
Federal Realty Investment Trust ‡			50				4,949
Healthpeak Properties ‡			447				10,607
Host Hotels & Resorts ‡			585				11,045
Invitation Homes ‡			460				14,577
Iron Mountain ‡			234				11,716
Kimco Realty ‡			464				9,920

 

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

303

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Schedule of Investments		October 31, 2022
Global X S&P 500® Risk Managed Income ETF

 

		Shares				Value
COMMON STOCK — continued
Real Estate — continued
Mid-America Apartment Communities ‡			100			$	15,745
ProLogis ‡			736				81,512
Public Storage ‡			123				38,099
Realty Income ‡			487				30,326
Regency Centers ‡			117				7,080
SBA Communications, Cl A			79				21,322
Simon Property Group ‡			260				28,335
UDR ‡			234				9,304
Ventas ‡			341				13,343
VICI Properties ‡			806				25,808
Vornado Realty Trust ‡			117				2,760
Welltower ‡			367				22,402
Weyerhaeuser ‡			585				18,094
							684,575
Utilities — 3.1%
AES .			545				14,257
Alliant Energy .			211				11,008
Ameren .			216				17,608
American Electric Power			405				35,608
American Water Works			141				20,493
Atmos Energy			117				12,466
CenterPoint Energy .			465				13,304
CMS Energy			234				13,350
Consolidated Edison			283				24,893
Constellation Energy .			260				24,580
Dominion Energy			658				46,040
DTE Energy .			148				16,592
Duke Energy			608				56,653
Edison International .			320				19,213
Entergy			154				16,500
Evergy			177				10,820
Eversource Energy .			270				20,596
Exelon			798				30,795
FirstEnergy			469				17,686
NextEra Energy .			1,549				120,047
NiSource .			351				9,017
NRG Energy			234				10,390
PG&E *			1,252				18,692
Pinnacle West Capital			97				6,519

 

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

304

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Schedule of Investments		October 31, 2022
Global X S&P 500® Risk Managed Income ETF

 

		Shares				Value
COMMON STOCK — continued
Utilities — continued
PPL			585			$	15,497
Public Service Enterprise Group .			417				23,381
Sempra Energy .			252				38,037
Southern			839				54,938
WEC Energy Group .			264				24,111
Xcel Energy			450				29,300
							772,391
TOTAL UNITED STATES							25,857,139
TOTAL COMMON STOCK
(Cost $29,384,340)							26,036,964
PURCHASED OPTIONS — 0.2%
(Cost $273,521)							45,768
TOTAL INVESTMENTS — 105.9%
(Cost $29,657,861)						$	26,082,732
WRITTEN OPTIONS— (6.1)%
(Premiums Received  $(907,794))						$	(1,494,402	)

 

Percentages are based on Net Assets of $24,633,665.

A list of the exchange traded option contracts held by the Fund at October 31, 2022, is as follows:

 

Description		Number of Contracts				Notional Amount				Exercise Price			Expiration Date		Value
PURCHASED OPTIONS — 0.2%
Put Options
Mini-SPX Index			12			$	420,000			$	350.00		11/18/22		$	888
S&P 500 Index			66				23,067,000				3,495.00		11/18/22			44,880
Total Purchased Options						$	23,487,000								$	45,768
WRITTEN OPTIONS — (6.1)%
Call Options
Mini-SPX Index			(12	)		$	(441,600	)			368.00		11/18/22		$	(26,892	)
S&P 500 Index			(66	)			(24,288,000	)			3,680.00		11/18/22			(1,467,510	)

 

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

305

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Risk Managed Income ETF

 

 

Description	Number of Contracts		Notional Amount			Exercise Price	Expiration Date		Value
WRITTEN OPTIONS (continued)
Total Written Options			$	(24,729,600	)				$	(1,494,402	)

* Non-income producing security.

‡ Real Estate Investment Trust

(A) All or a portion of these securities has been segregated as collateral for options contracts. The aggregate market value of collateral at October 31, 2022 was $26,036,964.

 

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

Investments in Securities		Level 1				Level 2				Level 3				Total
Common Stock		$	26,036,964			$	—			$	—			$	26,036,964
Purchased Options			45,768				—				—				45,768
Total Investments in Securities		$	26,082,732			$	—			$	—			$	26,082,732

Other Financial Instruments		Level 1				Level 2				Level 3				Total
Written Options		$	(1,494,402	)		$	–			$	–			$	(1,494,402	)
Total Other Financial Instruments		$	(1,494,402	)		$	–			$	–			$	(1,494,402	)

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.

306

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Schedule of Investments		October 31, 2022
Global X S&P 500® Collar 95-110 ETF

 

		Shares				Value
COMMON STOCK — 99.0%(A)
CHINA — 0.1%
Information Technology — 0.1%
NXP Semiconductors .			33			$	4,820
SWITZERLAND — 0.1%
Information Technology — 0.1%
TE Connectivity			40				4,889
UNITED KINGDOM — 0.5%
Materials — 0.5%
Linde			59				17,544
UNITED STATES — 98.3%
Communication Services — 7.3%
Activision Blizzard .			83				6,042
Alphabet, Cl A *			712				67,291
Alphabet, Cl C *			637				60,298
AT&T			839				15,295
Charter Communications, Cl A *			14				5,147
Comcast, Cl A			520				16,505
DISH Network, Cl A *			32				477

 

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

307

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Schedule of Investments		October 31, 2022
Global X S&P 500® Collar 95-110 ETF

 

		Shares				Value
COMMON STOCK — continued
Communication Services — continued
Electronic Arts			32			$	4,031
Fox, Cl A			32				924
Fox, Cl B			16				435
Interpublic Group			48				1,430
Live Nation Entertainment *			16				1,274
Lumen Technologies .			108				795
Match Group *			31				1,339
Meta Platforms, Cl A *			270				25,153
Netflix *			52				15,178
News, Cl A .			48				810
News, Cl B .			16				274
Omnicom Group .			28				2,037
Paramount Global, Cl B			64				1,172
Take-Two Interactive Software *			19				2,251
T-Mobile US *			73				11,064
Verizon Communications			496				18,535
Walt Disney *			216				23,013
Warner Bros Discovery *			279				3,627
							284,397
Consumer Discretionary — 10.8%
Advance Auto Parts			7				1,330
Amazon.com *			1,058				108,382
Aptiv *			32				2,914
AutoZone *			2				5,066
Bath & Body Works .			32				1,068
Best Buy			24				1,642
Booking Holdings *			5				9,347
BorgWarner .			32				1,201
Caesars Entertainment *			21				918
CarMax *			16				1,008
Carnival *			82				743
Chipotle Mexican Grill, Cl A *			3				4,495
Darden Restaurants .			16				2,290
Dollar General .			28				7,141
Dollar Tree *			28				4,438
Domino's Pizza .			5				1,661
DR Horton			38				2,921
eBay			71				2,829
Etsy *			16				1,503

 

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

308

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Schedule of Investments		October 31, 2022
Global X S&P 500® Collar 95-110 ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Discretionary — continued
Expedia Group *			16			$	1,496
Ford Motor .			493				6,591
Garmin			16				1,409
General Motors			182				7,144
Genuine Parts .			16				2,846
Hasbro .			16				1,044
Hilton Worldwide Holdings .			32				4,328
Home Depot .			122				36,128
Las Vegas Sands *			32				1,216
Lennar, Cl A .			32				2,582
LKQ			32				1,781
Lowe's			75				14,621
Marriott International, Cl A			34				5,444
McDonald's .			87				23,721
MGM Resorts International .			48				1,707
Mohawk Industries *			4				379
Newell Brands .			38				525
NIKE, Cl B			149				13,809
Norwegian Cruise Line Holdings *			38				642
O'Reilly Automotive *			8				6,697
Pool .			4				1,217
PulteGroup .			32				1,280
Ralph Lauren, Cl A .			3				278
Ross Stores			39				3,732
Royal Caribbean Cruises *			27				1,441
Starbucks			141				12,209
Tapestry .			32				1,014
Target			57				9,362
Tesla *			317				72,130
TJX			145				10,455
Tractor Supply .			14				3,077
Ulta Beauty *			7				2,936
VF .			32				904
Whirlpool			5				691
Wynn Resorts *			16				1,022
Yum! Brands			32				3,784
							420,539
Consumer Staples — 6.8%
Altria Group .			223				10,318

 

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

309

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Schedule of Investments		October 31, 2022
Global X S&P 500® Collar 95-110 ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Staples — continued
Archer-Daniels-Midland			64			$	6,207
Brown-Forman, Cl B			16				1,088
Campbell Soup .			25				1,323
Church & Dwight			31				2,298
Clorox			16				2,337
Coca-Cola .			461				27,591
Colgate-Palmolive			96				7,089
Conagra Brands .			48				1,762
Constellation Brands, Cl A			18				4,447
Costco Wholesale			53				26,579
Estee Lauder, Cl A .			29				5,814
General Mills			75				6,118
Hershey			16				3,820
Hormel Foods			32				1,486
J M Smucker .			13				1,959
Kellogg			32				2,458
Keurig Dr Pepper			94				3,651
Kimberly-Clark			42				5,227
Kraft Heinz			91				3,501
Kroger			80				3,783
Lamb Weston Holdings .			16				1,380
McCormick .			27				2,123
Molson Coors Beverage, Cl B			16				807
Mondelez International, Cl A .			161				9,898
Monster Beverage *			44				4,124
PepsiCo			163				29,598
Philip Morris International			183				16,809
Procter & Gamble .			283				38,112
Sysco .			64				5,540
Tyson Foods, Cl A			32				2,187
Walgreens Boots Alliance			80				2,920
Walmart			171				24,338
							266,692
Energy — 5.3%
APA .			34				1,546
Baker Hughes, Cl A			119				3,292
Chevron .			213				38,532
ConocoPhillips .			150				18,914
Coterra Energy			92				2,864

 

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

310

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Collar 95-110 ETF

 

		Shares				Value
COMMON STOCK — continued
Energy — continued
Devon Energy			77			$	5,956
Diamondback Energy			22				3,456
EOG Resources			72				9,829
EQT .			48				2,008
Exxon Mobil			494				54,740
Halliburton .			109				3,970
Hess			32				4,515
Kinder Morgan			239				4,331
Marathon Oil .			82				2,497
Marathon Petroleum			58				6,590
Occidental Petroleum .			86				6,244
ONEOK			48				2,847
Phillips 66 .			60				6,257
Pioneer Natural Resources			28				7,179
Schlumberger			176				9,157
Targa Resources			27				1,846
Valero Energy .			48				6,026
Williams			153				5,008
							207,604
Financials — 11.3%
Aflac			64				4,167
Allstate			32				4,040
American Express .			70				10,392
American International Group			96				5,472
Ameriprise Financial			14				4,328
Aon, Cl A .			26				7,319
Arch Capital Group *			45				2,588
Arthur J Gallagher			23				4,303
Assurant .			6				815
Bank of America			828				29,841
Bank of New York Mellon			82				3,453
Berkshire Hathaway, Cl B *			214				63,149
BlackRock, Cl A .			18				11,626
Brown & Brown .			28				1,646
Capital One Financial			49				5,195
Cboe Global Markets .			10				1,245
Charles Schwab .			185				14,739
Chubb .			49				10,530
Cincinnati Financial .			16				1,653

 

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

311

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Schedule of Investments		October 31, 2022
Global X S&P 500® Collar 95-110 ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
Citigroup			227			$	10,410
Citizens Financial Group .			60				2,454
CME Group, Cl A .			44				7,625
Comerica			16				1,128
Discover Financial Services			32				3,343
Everest Re Group			4				1,291
FactSet Research Systems .			5				2,128
Fifth Third Bancorp			80				2,855
First Republic Bank .			23				2,762
Franklin Resources			32				750
Globe Life .			8				924
Goldman Sachs Group			40				13,780
Hartford Financial Services Group .			42				3,041
Huntington Bancshares			160				2,429
Intercontinental Exchange .			69				6,594
Invesco			32				490
JPMorgan Chase .			348				43,806
KeyCorp			98				1,751
Lincoln National .			16				862
Loews .			27				1,540
M&T Bank .			23				3,873
MarketAxess Holdings .			3				732
Marsh & McLennan .			62				10,012
MetLife .			80				5,857
Moody's .			20				5,297
Morgan Stanley			158				12,983
MSCI, Cl A			10				4,689
Nasdaq .			36				2,241
Northern Trust .			27				2,277
PNC Financial Services Group			51				8,253
Principal Financial Group			32				2,820
Progressive			72				9,245
Prudential Financial .			47				4,944
Raymond James Financial .			21				2,481
Regions Financial .			98				2,151
S&P Global .			41				13,171
Signature Bank NY .			6				951
State Street .			39				2,886
SVB Financial Group *			6				1,386

 

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

312

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Schedule of Investments		October 31, 2022
Global X S&P 500® Collar 95-110 ETF

 

		Shares				Value
COMMON STOCK — continued
Financials — continued
Synchrony Financial			64			$	2,276
T Rowe Price Group			25				2,654
Travelers .			30				5,534
Truist Financial			165				7,390
US Bancorp .			167				7,089
W R Berkley			24				1,785
Wells Fargo .			448				20,604
Willis Towers Watson			13				2,837
Zions Bancorp .			16				831
							443,713
Health Care — 15.2%
Abbott Laboratories .			207				20,481
AbbVie			209				30,598
ABIOMED *			4				1,008
Agilent Technologies			38				5,257
Align Technology *			8				1,554
AmerisourceBergen, Cl A .			16				2,516
Amgen .			65				17,573
Baxter International			55				2,989
Becton Dickinson			35				8,259
Biogen *			16				4,535
Bio-Rad Laboratories, Cl A *			2				703
Bio-Techne			5				1,481
Boston Scientific *			178				7,674
Bristol-Myers Squibb .			252				19,522
Cardinal Health			32				2,429
Catalent *			23				1,512
Centene *			66				5,619
Charles River Laboratories International *			7				1,486
Cigna .			36				11,630
Cooper .			7				1,914
CVS Health .			155				14,678
Danaher			79				19,882
DaVita *			5				365
DENTSPLY SIRONA .			18				555
Dexcom *			44				5,314
Edwards Lifesciences *			77				5,577
Elevance Health			29				15,856
Eli Lilly			93				33,674

 

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

313

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Schedule of Investments		October 31, 2022
Global X S&P 500® Collar 95-110 ETF

 

		Shares				Value
COMMON STOCK — continued
Health Care — continued
Gilead Sciences			155			$	12,161
HCA Healthcare			25				5,437
Henry Schein *			16				1,095
Hologic *			32				2,170
Humana			15				8,371
IDEXX Laboratories *			10				3,597
Illumina *			20				4,576
Incyte *			25				1,859
Intuitive Surgical *			44				10,845
IQVIA Holdings *			24				5,032
Johnson & Johnson .			312				54,279
Laboratory Corp of America Holdings			12				2,662
McKesson			18				7,009
Medtronic			156				13,625
Merck .			300				30,360
Mettler-Toledo International *			3				3,795
Moderna *			43				6,464
Molina Healthcare *			8				2,871
Organon .			32				838
PerkinElmer			14				1,870
Pfizer			665				30,956
Quest Diagnostics .			16				2,298
Regeneron Pharmaceuticals *			13				9,734
ResMed			16				3,579
STERIS			13				2,244
Stryker .			39				8,940
Teleflex			4				858
Thermo Fisher Scientific			46				23,643
UnitedHealth Group			111				61,622
Universal Health Services, Cl B .			7				811
Vertex Pharmaceuticals *			30				9,360
Viatris *			128				1,297
Waters *			7				2,094
West Pharmaceutical Services			9				2,071
Zimmer Biomet Holdings .			27				3,060
Zoetis, Cl A .			58				8,745
							594,869
Industrials — 8.2%
3M			65				8,176

 

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

314

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Schedule of Investments		October 31, 2022
Global X S&P 500® Collar 95-110 ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — continued
A O Smith .			16			$	876
Alaska Air Group *			16				711
Allegion .			12				1,257
American Airlines Group *			66				936
AMETEK			28				3,630
Boeing *			69				9,833
Carrier Global			97				3,857
Caterpillar .			65				14,070
CH Robinson Worldwide			16				1,564
Cintas			11				4,703
Copart *			27				3,106
CoStar Group *			45				3,722
CSX			250				7,265
Cummins			16				3,912
Deere .			34				13,458
Delta Air Lines *			78				2,647
Dover			16				2,091
Eaton			50				7,504
Emerson Electric			74				6,408
Equifax .			13				2,204
Expeditors International of Washington .			16				1,566
Fastenal			64				3,093
FedEx .			30				4,808
Fortive .			47				3,003
Fortune Brands Home & Security .			16				965
Generac Holdings *			7				811
General Dynamics			26				6,495
General Electric .			136				10,582
Honeywell International .			79				16,118
Howmet Aerospace .			48				1,706
Huntington Ingalls Industries			4				1,028
IDEX .			9				2,001
Illinois Tool Works			32				6,833
Ingersoll Rand .			48				2,424
Jacobs Solutions .			16				1,844
JB Hunt Transport Services			8				1,369
Johnson Controls International			80				4,627
L3Harris Technologies .			24				5,915
Leidos Holdings			16				1,625

 

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

315

---

 

Schedule of Investments		October 31, 2022
Global X S&P 500® Collar 95-110 ETF

 

		Shares				Value
COMMON STOCK — continued
Industrials — continued
Lockheed Martin			29			$	14,114
Masco .			32				1,481
Nordson .			5				1,125
Norfolk Southern .			27				6,158
Northrop Grumman			18				9,882
Old Dominion Freight Line			12				3,295
Otis Worldwide			48				3,391
PACCAR			38				3,680
Parker-Hannifin			16				4,650
Pentair			16				687
Quanta Services .			16				2,273
Raytheon Technologies			174				16,499
Republic Services, Cl A			27				3,581
Robert Half International			16				1,223
Rockwell Automation			14				3,574
Rollins .			22				926
Snap-On .			5				1,110
Southwest Airlines *			64				2,326
Stanley Black & Decker .			16				1,256
Textron			29				1,985
Trane Technologies .			30				4,789
TransDigm Group .			6				3,455
Union Pacific			74				14,588
United Airlines Holdings *			32				1,379
United Parcel Service, Cl B .			86				14,428
United Rentals *			9				2,841
Verisk Analytics, Cl A .			20				3,657
Waste Management .			47				7,443
Westinghouse Air Brake Technologies			24				2,239
WW Grainger .			5				2,922
Xylem .			22				2,253
							321,953
Information Technology — 25.8%
Accenture, Cl A			75				21,293
Adobe *			56				17,836
Advanced Micro Devices *			190				11,411
Akamai Technologies *			16				1,413
Amphenol, Cl A .			75				5,687
Analog Devices			61				8,700

 

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

316

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Schedule of Investments		October 31, 2022
Global X S&P 500® Collar 95-110 ETF

 

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
ANSYS *			10			$	2,212
Apple .			1,802				276,319
Applied Materials .			102				9,006
Arista Networks *			29				3,505
Autodesk *			26				5,572
Automatic Data Processing			51				12,327
Broadcom			48				22,566
Broadridge Financial Solutions .			12				1,801
Cadence Design Systems *			32				4,844
CDW			16				2,765
Ceridian HCM Holding *			15				993
Cisco Systems			489				22,215
Cognizant Technology Solutions, Cl A			61				3,797
Corning .			80				2,574
DXC Technology *			32				920
Enphase Energy *			16				4,912
EPAM Systems *			7				2,450
3M			7				1,000
Fidelity National Information Services .			76				6,307
Fiserv *			77				7,911
FleetCor Technologies *			9				1,675
Fortinet *			80				4,573
Gartner *			10				3,019
Global Payments			32				3,656
Hewlett Packard Enterprise			144				2,055
HP			103				2,845
Intel .			500				14,215
International Business Machines .			110				15,212
Intuit .			33				14,108
Jack Henry & Associates .			10				1,991
Juniper Networks .			32				979
Keysight Technologies *			22				3,831
KLA			16				5,063
Lam Research			17				6,881
Mastercard, Cl A .			101				33,146
Microchip Technology			64				3,951
Micron Technology .			138				7,466
Microsoft			890				206,596
Monolithic Power Systems .			6				2,037

 

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

317

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Collar 95-110 ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
Motorola Solutions			21			$	5,244
NetApp .			27				1,870
NortonLifeLock			64				1,442
NVIDIA .			297				40,086
ON Semiconductor *			56				3,440
Oracle .			179				13,975
Paychex			40				4,732
Paycom Software *			6				2,076
PayPal Holdings *			136				11,367
PTC *			10				1,178
Qorvo *			11				947
QUALCOMM .			132				15,531
Roper Technologies			13				5,389
Salesforce *			121				19,673
Seagate Technology Holdings .			22				1,093
ServiceNow *			25				10,519
Skyworks Solutions			16				1,376
SolarEdge Technologies *			5				1,150
Synopsys *			19				5,558
Teledyne Technologies *			6				2,388
Teradyne .			16				1,302
Texas Instruments .			108				17,348
Trimble *			32				1,925
Tyler Technologies *			4				1,293
VeriSign *			11				2,205
Visa, Cl A .			194				40,189
Western Digital *			32				1,100
Zebra Technologies, Cl A *			5				1,416
							1,009,447
Materials — 2.1%
Air Products & Chemicals .			28				7,011
Albemarle			14				3,918
Amcor			162				1,876
Avery Dennison .			11				1,865
Ball			32				1,581
Celanese, Cl A .			11				1,057
CF Industries Holdings			24				2,550
Corteva .			80				5,227
Dow			91				4,253

 

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

318

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Collar 95-110 ETF

 

		Shares				Value
COMMON STOCK — continued
Materials — continued
DuPont de Nemours .			60			$	3,432
Eastman Chemical .			16				1,229
Ecolab			29				4,555
FMC .			16				1,903
Freeport-McMoRan .			180				5,704
International Flavors & Fragrances			32				3,124
International Paper .			48				1,613
LyondellBasell Industries, Cl A			32				2,446
Martin Marietta Materials			8				2,688
Mosaic .			36				1,935
Newmont			99				4,190
Nucor			32				4,204
Packaging Corp of America .			13				1,563
PPG Industries			30				3,425
Sealed Air			16				762
Sherwin-Williams .			27				6,076
Vulcan Materials			16				2,619
Westrock .			32				1,090
							81,896
Real Estate — 2.6%
Alexandria Real Estate Equities ‡			16				2,325
American Tower ‡			57				11,810
AvalonBay Communities ‡			16				2,802
Boston Properties ‡			16				1,163
Camden Property Trust ‡			11				1,271
CBRE Group, Cl A *			42				2,980
Crown Castle			54				7,196
Digital Realty Trust ‡			32				3,208
Equinix .			11				6,231
Equity Residential ‡			44				2,773
Essex Property Trust ‡			9				2,000
Extra Space Storage ‡			16				2,839
Federal Realty Investment Trust ‡			5				495
Healthpeak Properties ‡			64				1,519
Host Hotels & Resorts ‡			80				1,510
Invitation Homes ‡			65				2,060
Iron Mountain ‡			32				1,602
Kimco Realty ‡			64				1,368
Mid-America Apartment Communities ‡			12				1,889

 

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

319

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Collar 95-110 ETF

 

		Shares				Value
COMMON STOCK — continued
Real Estate — continued
ProLogis ‡			114			$	12,626
Public Storage ‡			19				5,885
Realty Income ‡			75				4,670
Regency Centers ‡			16				968
SBA Communications, Cl A			12				3,239
Simon Property Group ‡			42				4,577
UDR ‡			32				1,272
Ventas ‡			52				2,035
VICI Properties ‡			123				3,939
Vornado Realty Trust ‡			16				378
Welltower ‡			57				3,479
Weyerhaeuser ‡			80				2,474
							102,583
Utilities — 2.9%
AES .			70				1,831
Alliant Energy .			32				1,669
Ameren .			32				2,609
American Electric Power			64				5,627
American Water Works			19				2,762
Atmos Energy			16				1,705
CenterPoint Energy .			64				1,831
CMS Energy			32				1,826
Consolidated Edison			39				3,430
Constellation Energy .			35				3,309
Dominion Energy			101				7,067
DTE Energy .			25				2,803
Duke Energy			95				8,852
Edison International .			49				2,942
Entergy			26				2,786
Evergy			32				1,956
Eversource Energy .			37				2,822
Exelon			110				4,245
FirstEnergy			64				2,413
NextEra Energy .			232				17,980
NiSource .			48				1,233
NRG Energy			32				1,421
PG&E *			200				2,986
Pinnacle West Capital			16				1,075
PPL			80				2,119

 

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

320

---

 

Schedule of Investments		October 31, 2022
Global X S&P 500® Collar 95-110 ETF

 

		Shares				Value
COMMON STOCK — continued
Utilities — continued
Public Service Enterprise Group .			63			$	3,532
Sempra Energy .			39				5,887
Southern			131				8,578
WEC Energy Group .			40				3,653
Xcel Energy			64				4,167
							115,116
TOTAL UNITED STATES							3,848,809
TOTAL COMMON STOCK
(Cost $4,352,383)							3,876,062
PURCHASED OPTIONS — 1.5%
(Cost $115,867)							59,515
TOTAL INVESTMENTS — 100.5%
(Cost $4,468,250)						$	3,935,577
WRITTEN OPTIONS— (0.5)%
(Premiums Received  $(42,899))						$	(20,585	)

 

Percentages are based on Net Assets of $3,914,681.

A list of the exchange traded option contracts held by the Fund at October 31, 2022, is as follows:

 

Description		Number of Contracts				Notional Amount				Exercise Price			Expiration Date		Value
PURCHASED OPTIONS — 1.5%
Put Options
Mini-SPX Index			10			$	366,000			$	366.00		12/16/22		$	6,010
S&P 500 Index			9				3,294,000				3,660.00		12/16/22			53,505
Total Purchased Options						$	3,660,000								$	59,515
WRITTEN OPTIONS — (0.5)%
Call Options
Mini-SPX Index			(10	)		$	(424,000	)			424.00		12/16/22		$	(2,090	)
S&P 500 Index			(9	)			(3,816,000	)			4,240.00		12/16/22			(18,495	)

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

321

---

Schedule of Investments		October 31, 2022
Global X S&P 500® Collar 95-110 ETF

 

 

Description	Number of Contracts		Notional Amount			Exercise Price	Expiration Date		Value
WRITTEN OPTIONS (continued)
Total Written Options			$	(4,240,000	)				$	(20,585	)

* Non-income producing security.

‡ Real Estate Investment Trust

(A) All or a portion of these securities has been segregated as collateral for options contracts. The aggregate market value of collateral at October 31, 2022 was $3,876,062.

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

Investments in Securities		Level 1				Level 2				Level 3				Total
Common Stock		$	3,876,062			$	—			$	—			$	3,876,062
Purchased Options			59,515				—				—				59,515
Total Investments in Securities		$	3,935,577			$	—			$	—			$	3,935,577

Other Financial Instruments		Level 1				Level 2				Level 3				Total
Written Options		$	(20,585	)		$	–			$	–			$	(20,585	)
Total Other Financial Instruments		$	(20,585	)		$	–			$	–			$	(20,585	)

 

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.

322

---

Schedule of Investments		October 31, 2022
Global X NASDAQ 100® Tail Risk ETF

 

		Shares				Value
COMMON STOCK — 98.3%(A)
BRAZIL — 0.4%
Consumer Discretionary — 0.4%
MercadoLibre *			9			$	8,115
CHINA — 1.0%
Communication Services — 0.2%
Baidu ADR *			32				2,450
NetEase ADR .			31				1,724
							4,174
Consumer Discretionary — 0.4%
JD.com ADR .			90				3,356
Pinduoduo ADR *			82				4,496
							7,852
Information Technology — 0.4%
NXP Semiconductors .			47				6,866
TOTAL CHINA							18,892

 

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

323

---

Schedule of Investments		October 31, 2022
Global X NASDAQ 100® Tail Risk ETF

 

		Shares				Value
COMMON STOCK — continued
NETHERLANDS — 0.4%
Information Technology — 0.4%
ASML Holding .			15			$	7,086
UNITED KINGDOM — 0.3%
Health Care — 0.3%
AstraZeneca ADR .			108				6,352
UNITED STATES — 96.2%
Communication Services — 14.4%
Activision Blizzard .			143				10,410
Alphabet, Cl A *			648				61,243
Alphabet, Cl C *			666				63,044
Charter Communications, Cl A *			29				10,661
Comcast, Cl A			788				25,011
Electronic Arts			49				6,172
Match Group *			53				2,290
Meta Platforms, Cl A *			369				34,376
Netflix *			80				23,350
Sirius XM Holdings .			732				4,421
T-Mobile US *			224				33,949
							274,927
Consumer Discretionary — 14.4%
Airbnb, Cl A *			71				7,591
Amazon.com *			1,101				112,787
Booking Holdings *			7				13,086
Dollar Tree *			40				6,340
eBay			99				3,944
Lucid Group *			310				4,430
Lululemon Athletica *			22				7,239
Marriott International, Cl A			58				9,286
O'Reilly Automotive *			11				9,209
Ross Stores			65				6,220
Starbucks			208				18,011
Tesla *			336				76,453
							274,596
Consumer Staples — 7.0%
Costco Wholesale			79				39,618

 

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

324

---

Schedule of Investments		October 31, 2022
Global X NASDAQ 100® Tail Risk ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Staples — continued
Keurig Dr Pepper			252			$	9,788
Kraft Heinz			217				8,348
Mondelez International, Cl A .			245				15,063
Monster Beverage *			94				8,810
PepsiCo			247				44,850
Walgreens Boots Alliance			161				5,876
							132,353
Health Care — 7.0%
Align Technology *			15				2,915
Amgen .			97				26,224
Biogen *			27				7,653
Dexcom *			69				8,334
Gilead Sciences			224				17,575
IDEXX Laboratories *			15				5,395
Illumina *			29				6,636
Intuitive Surgical *			64				15,774
Moderna *			70				10,523
Regeneron Pharmaceuticals *			19				14,226
Seagen *			34				4,323
Vertex Pharmaceuticals *			46				14,352
							133,930
Industrials — 3.7%
Cintas			18				7,696
Copart *			44				5,061
CSX			381				11,072
Fastenal			100				4,833
Honeywell International .			120				24,482
Old Dominion Freight Line			20				5,492
PACCAR			65				6,294
Verisk Analytics, Cl A .			29				5,302
							70,232
Information Technology — 48.3%
Adobe *			84				26,754
Advanced Micro Devices *			289				17,357
Analog Devices			92				13,121
ANSYS *			16				3,538
Apple .			1,738				266,505

 

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

325

---

Schedule of Investments		October 31, 2022
Global X NASDAQ 100® Tail Risk ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
Applied Materials .			153			$	13,508
Atlassian, Cl A *			27				5,474
Autodesk *			38				8,143
Automatic Data Processing			74				17,886
Broadcom			72				33,849
Cadence Design Systems *			49				7,418
Cisco Systems			741				33,664
Cognizant Technology Solutions, Cl A			92				5,727
Crowdstrike Holdings, Cl A *			38				6,126
Datadog, Cl A *			53				4,267
DocuSign, Cl A *			33				1,594
Fiserv *			114				11,712
Fortinet *			140				8,002
Intel .			734				20,868
Intuit .			50				21,375
KLA			25				7,911
Lam Research			24				9,715
Marvell Technology .			158				6,269
Microchip Technology			103				6,359
Micron Technology .			196				10,604
Microsoft			806				187,097
NVIDIA .			378				51,019
Okta, Cl A *			26				1,459
Palo Alto Networks *			54				9,266
Paychex			64				7,572
PayPal Holdings *			207				17,301
QUALCOMM .			201				23,650
Skyworks Solutions			27				2,322
Splunk *			27				2,244
Synopsys *			28				8,191
Texas Instruments .			163				26,183
VeriSign *			20				4,009
Workday, Cl A *			37				5,765
Zoom Video Communications, Cl A *			47				3,922
Zscaler *			26				4,007
							921,753
Utilities — 1.4%
American Electric Power			91				8,001
Constellation Energy .			56				5,294

 

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

326

---

Schedule of Investments		October 31, 2022
Global X NASDAQ 100® Tail Risk ETF

 

		Shares				Value
COMMON STOCK — continued
Utilities — continued
Exelon			183			$	7,062
Xcel Energy			101				6,576
							26,933
TOTAL UNITED STATES							1,834,724
TOTAL COMMON STOCK
(Cost $2,510,060)							1,875,169
PURCHASED OPTIONS — 1.6%
(Cost $50,732)							30,870
TOTAL INVESTMENTS — 99.9%
(Cost $2,560,792)						$	1,906,039

 

Percentages are based on Net Assets of $1,907,984.

A list of the exchange traded option contracts held by the Fund at October 31, 2022, is as follows:

 

Description		Number of Contracts				Notional Amount				Exercise Price			Expiration Date		Value
PURCHASED OPTIONS — 1.6%
Put Options
Nasdaq-100			1			$	1,057,500			$	10,575.00		12/16/22		$	19,365
Nasdaq-100® Reduced-Value Index			3				633,000				2,110.00		12/16/22			11,505
Total Purchased Options						$	1,690,500								$	30,870

* Non-income producing security.

(A) All or a portion of these securities has been segregated as collateral for options contracts. The aggregate market value of collateral at October 31, 2022 was $1,875,169.

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

327

---

Schedule of Investments		October 31, 2022
Global X NASDAQ 100® Tail Risk 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		$	1,875,169			$	—			$	—			$	1,875,169
Purchased Options			30,870				—				—				30,870
Total Investments in Securities		$	1,906,039			$	—			$	—			$	1,906,039

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.

328

---

Schedule of Investments	October 31, 2022
Global X NASDAQ 100® Risk Managed Income ETF

 

		Shares				Value
COMMON STOCK — 104.3%(A)
BRAZIL — 0.5%
Consumer Discretionary — 0.5%
MercadoLibre *			53			$	47,786
CHINA — 1.0%
Communication Services — 0.2%
Baidu ADR *			187				14,319
NetEase ADR .			173				9,622
							23,941
Consumer Discretionary — 0.4%
JD.com ADR .			524				19,540
Pinduoduo ADR *			484				26,538
							46,078
Information Technology — 0.4%
NXP Semiconductors .			275				40,172
TOTAL CHINA							110,191

 

 

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

329

---

Schedule of Investments	October 31, 2022
Global X NASDAQ 100® Risk Managed Income ETF

 

		Shares				Value
COMMON STOCK — continued
NETHERLANDS — 0.4%
Information Technology — 0.4%
ASML Holding .			93			$	43,935
UNITED KINGDOM — 0.3%
Health Care — 0.3%
AstraZeneca ADR .			611				35,933
UNITED STATES — 102.1%
Communication Services — 15.3%
Activision Blizzard .			853				62,099
Alphabet, Cl A *			3,863				365,092
Alphabet, Cl C *			3,971				375,895
Charter Communications, Cl A *			168				61,760
Comcast, Cl A			4,755				150,924
Electronic Arts			289				36,403
Match Group *			275				11,880
Meta Platforms, Cl A *			2,214				206,256
Netflix *			480				140,102
Sirius XM Holdings .			4,035				24,371
T-Mobile US *			1,352				204,909
							1,639,691
Consumer Discretionary — 15.3%
Airbnb, Cl A *			414				44,261
Amazon.com *			6,568				672,826
Booking Holdings *			43				80,388
Dollar Tree *			233				36,930
eBay			617				24,581
Lucid Group *			1,736				24,807
Lululemon Athletica *			126				41,459
Marriott International, Cl A			339				54,277
O'Reilly Automotive *			69				57,765
Ross Stores			362				34,640
Starbucks			1,242				107,545
Tesla *			2,003				455,763
							1,635,242
Consumer Staples — 7.4%
Costco Wholesale			477				239,216

 

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

330

---

Schedule of Investments	October 31, 2022
Global X NASDAQ 100® Risk Managed Income ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Staples — continued
Keurig Dr Pepper			1,546			$	60,047
Kraft Heinz			1,275				49,049
Mondelez International, Cl A .			1,488				91,482
Monster Beverage *			577				54,076
PepsiCo			1,485				269,646
Walgreens Boots Alliance			895				32,668
							796,184
Health Care — 7.4%
Align Technology *			78				15,156
Amgen .			578				156,262
Biogen *			154				43,650
Dexcom *			408				49,278
Gilead Sciences			1,359				106,627
IDEXX Laboratories *			92				33,091
Illumina *			165				37,755
Intuitive Surgical *			388				95,630
Moderna *			407				61,184
Regeneron Pharmaceuticals *			116				86,855
Seagen *			189				24,033
Vertex Pharmaceuticals *			270				84,240
							793,761
Industrials — 3.9%
Cintas			107				45,748
Copart *			245				28,180
CSX			2,334				67,826
Fastenal			595				28,756
Honeywell International .			728				148,526
Old Dominion Freight Line			116				31,854
PACCAR			360				34,859
Verisk Analytics, Cl A .			165				30,167
							415,916
Information Technology — 51.4%
Adobe *			505				160,842
Advanced Micro Devices *			1,748				104,985
Analog Devices			559				79,725
ANSYS *			94				20,789
Apple .			10,364				1,589,216

 

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

331

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Schedule of Investments	October 31, 2022
Global X NASDAQ 100® Risk Managed Income ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
Applied Materials .			935			$	82,551
Atlassian, Cl A *			154				31,220
Autodesk *			226				48,432
Automatic Data Processing			450				108,765
Broadcom			436				204,972
Cadence Design Systems *			286				43,298
Cisco Systems			4,463				202,754
Cognizant Technology Solutions, Cl A			536				33,366
Crowdstrike Holdings, Cl A *			225				36,270
Datadog, Cl A *			301				24,234
DocuSign, Cl A *			195				9,418
Fiserv *			697				71,610
Fortinet *			819				46,814
Intel .			4,440				126,229
Intuit .			305				130,387
KLA			156				49,366
Lam Research			150				60,717
Marvell Technology .			884				35,077
Microchip Technology			575				35,501
Micron Technology .			1,201				64,974
Microsoft			4,809				1,116,313
NVIDIA .			2,256				304,492
Okta, Cl A *			146				8,194
Palo Alto Networks *			327				56,110
Paychex			371				43,893
PayPal Holdings *			1,252				104,642
QUALCOMM .			1,213				142,722
Skyworks Solutions			157				13,504
Splunk *			157				13,048
Synopsys *			161				47,101
Texas Instruments .			986				158,381
VeriSign *			107				21,449
Workday, Cl A *			212				33,034
Zoom Video Communications, Cl A *			282				23,530
Zscaler *			143				22,036
							5,509,961
Utilities — 1.4%
American Electric Power			533				46,861
Constellation Energy .			341				32,238

 

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

332

---

Schedule of Investments	October 31, 2022
Global X NASDAQ 100® Risk Managed Income ETF

 

		Shares				Value
COMMON STOCK — continued
Utilities — continued
Exelon			1,027			$	39,632
Xcel Energy			570				37,113
							155,844
TOTAL UNITED STATES							10,946,599
TOTAL COMMON STOCK
(Cost $14,396,724)							11,184,444
PURCHASED OPTIONS — 0.6%
(Cost $176,881)							60,740
TOTAL INVESTMENTS — 104.9%
(Cost $14,573,605)						$	11,245,184
WRITTEN OPTIONS— (5.0)%
(Premiums Received  $(476,649))						$	(536,740	)

 

Percentages are based on Net Assets of $10,719,550.

A list of the exchange traded option contracts held by the Fund at October 31, 2022, is as follows:

Description		Number of Contracts				Notional Amount				Exercise Price			Expiration Date		Value
PURCHASED OPTIONS — 0.6%
Put Options
Nasdaq-100			8			$	8,400,000			$	10,500.00		11/18/22		$	49,040
Nasdaq-100® Reduced-Value Index			9				1,890,000				2,100.00		11/18/22			11,700
Total Purchased Options						$	10,290,000								$	60,740

WRITTEN OPTIONS — (5.0)%
Call Options
Nasdaq-100			(8	)		$	(8,840,000	)			11,050.00		11/18/22		$	(437,560	)
Nasdaq-100® Reduced-Value Index			(9	)			(1,989,000	)			2,210.00		11/18/22			(99,180	)

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

333

---

Schedule of Investments	October 31, 2022
Global X NASDAQ 100® Risk Managed Income ETF

 

 

Description	Number of Contracts		Notional Amount			Exercise Price	Expiration Date		Value
WRITTEN OPTIONS (continued)
Total Written Options			$	(10,829,000	)				$	(536,740	)

* Non-income producing security.

(A) All or a portion of these securities has been segregated as collateral for options contracts. The aggregate market value of collateral at October 31, 2022 was $11,184,444.

 

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		$	11,184,444			$	—			$	—			$	11,184,444
Purchased Options			60,740				—				—				60,740
Total Investments in Securities		$	11,245,184			$	—			$	—			$	11,245,184

Other Financial Instruments		Level 1				Level 2				Level 3				Total
Written Options		$	(536,740	)		$	–			$	–			$	(536,740	)
Total Other Financial Instruments		$	(536,740	)		$	–			$	–			$	(536,740	)

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.

334

---

Schedule of Investments		October 31, 2022
Global X NASDAQ 100® Collar 95-110 ETF

 

		Shares				Value
COMMON STOCK — 97.2%(A)
BRAZIL — 0.4%
Consumer Discretionary — 0.4%
MercadoLibre *			14			$	12,623
CHINA — 1.0%
Communication Services — 0.2%
Baidu ADR *			48				3,675
NetEase ADR .			43				2,392
							6,067
Consumer Discretionary — 0.4%
JD.com ADR .			149				5,556
Pinduoduo ADR *			126				6,909
							12,465
Information Technology — 0.4%
NXP Semiconductors .			78				11,394
TOTAL CHINA							29,926

 

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

335

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Schedule of Investments		October 31, 2022
Global X NASDAQ 100® Collar 95-110 ETF

 

		Shares				Value
COMMON STOCK — continued
NETHERLANDS — 0.3%
Information Technology — 0.3%
ASML Holding .			24			$	11,338
UNITED KINGDOM — 0.3%
Health Care — 0.3%
AstraZeneca ADR .			168				9,880
UNITED STATES — 95.2%
Communication Services — 14.3%
Activision Blizzard .			229				16,671
Alphabet, Cl A *			1,035				97,818
Alphabet, Cl C *			1,064				100,718
Charter Communications, Cl A *			46				16,910
Comcast, Cl A			1,255				39,834
Electronic Arts			81				10,203
Match Group *			83				3,586
Meta Platforms, Cl A *			590				54,964
Netflix *			127				37,069
Sirius XM Holdings .			1,150				6,946
T-Mobile US *			356				53,955
							438,674
Consumer Discretionary — 14.2%
Airbnb, Cl A *			111				11,867
Amazon.com *			1,761				180,397
Booking Holdings *			11				20,564
Dollar Tree *			64				10,144
eBay			165				6,574
Lucid Group *			487				6,959
Lululemon Athletica *			34				11,187
Marriott International, Cl A			94				15,050
O'Reilly Automotive *			18				15,069
Ross Stores			103				9,856
Starbucks			323				27,969
Tesla *			539				122,644
							438,280
Consumer Staples — 6.9%
Costco Wholesale			127				63,690

 

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

336

---

Schedule of Investments		October 31, 2022
Global X NASDAQ 100® Collar 95-110 ETF

 

		Shares				Value
COMMON STOCK — continued
Consumer Staples — continued
Keurig Dr Pepper			415			$	16,119
Kraft Heinz			358				13,772
Mondelez International, Cl A .			388				23,854
Monster Beverage *			154				14,433
PepsiCo			395				71,724
Walgreens Boots Alliance			251				9,162
							212,754
Health Care — 6.9%
Align Technology *			21				4,080
Amgen .			152				41,093
Biogen *			43				12,188
Dexcom *			115				13,890
Gilead Sciences			366				28,716
IDEXX Laboratories *			23				8,273
Illumina *			47				10,755
Intuitive Surgical *			102				25,140
Moderna *			110				16,536
Regeneron Pharmaceuticals *			31				23,211
Seagen *			53				6,740
Vertex Pharmaceuticals *			73				22,776
							213,398
Industrials — 3.7%
Cintas			30				12,827
Copart *			69				7,936
CSX			601				17,465
Fastenal			167				8,071
Honeywell International .			191				38,968
Old Dominion Freight Line			32				8,787
PACCAR			102				9,877
Verisk Analytics, Cl A .			47				8,593
							112,524
Information Technology — 47.8%
Adobe *			132				42,042
Advanced Micro Devices *			459				27,567
Analog Devices			143				20,395
ANSYS *			24				5,308
Apple .			2,779				426,132

 

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

337

---

Schedule of Investments		October 31, 2022
Global X NASDAQ 100® Collar 95-110 ETF

 

		Shares				Value
COMMON STOCK — continued
Information Technology — continued
Applied Materials .			241			$	21,278
Atlassian, Cl A *			41				8,312
Autodesk *			61				13,072
Automatic Data Processing			119				28,762
Broadcom			117				55,004
Cadence Design Systems *			79				11,960
Cisco Systems			1,180				53,607
Cognizant Technology Solutions, Cl A			151				9,400
Crowdstrike Holdings, Cl A *			64				10,317
Datadog, Cl A *			82				6,602
DocuSign, Cl A *			58				2,801
Fiserv *			180				18,493
Fortinet *			224				12,804
Intel .			1,174				33,377
Intuit .			81				34,627
KLA			39				12,341
Lam Research			38				15,382
Marvell Technology .			250				9,920
Microchip Technology			163				10,064
Micron Technology .			308				16,663
Microsoft			1,289				299,216
NVIDIA .			605				81,657
Okta, Cl A *			44				2,469
Palo Alto Networks *			87				14,928
Paychex			107				12,659
PayPal Holdings *			327				27,331
QUALCOMM .			320				37,651
Skyworks Solutions			48				4,128
Splunk *			48				3,989
Synopsys *			45				13,165
Texas Instruments .			259				41,603
VeriSign *			33				6,615
Workday, Cl A *			58				9,038
Zoom Video Communications, Cl A *			74				6,175
Zscaler *			41				6,318
							1,473,172
Utilities — 1.4%
American Electric Power			148				13,012
Constellation Energy .			94				8,887

 

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

338

---

 

Schedule of Investments		October 31, 2022
Global X NASDAQ 100® Collar 95-110 ETF

 

		Shares				Value
COMMON STOCK — continued
Utilities — continued
Exelon			287			$	11,075
Xcel Energy			160				10,418
							43,392
TOTAL UNITED STATES							2,932,194
TOTAL COMMON STOCK
(Cost $4,060,088)							2,995,961
PURCHASED OPTIONS — 3.1%
(Cost $124,554)							94,325
TOTAL INVESTMENTS — 100.3%
(Cost $4,184,642)						$	3,090,286
WRITTEN OPTIONS— (0.5)%
(Premiums Received  $(66,535))						$	(15,280	)

 

Percentages are based on Net Assets of $3,080,540.

A list of the exchange traded option contracts held by the Fund at October 31, 2022, is as follows:

 

Description		Number of Contracts				Notional Amount				Exercise Price			Expiration Date		Value
PURCHASED OPTIONS — 3.1%
Put Options
Nasdaq-100			2			$	2,230,000			$	11,150.00		12/16/22		$	72,410
Nasdaq-100® Reduced-Value Index			3				669,000				2,230.00		12/16/22			21,915
Total Purchased Options						$	2,899,000								$	94,325
WRITTEN OPTIONS — (0.5)%
Call Options
Nasdaq-100			(2	)		$	(2,585,000	)			12,925.00		12/16/22		$	(11,650	)
Nasdaq-100® Reduced-Value Index			(3	)			(775,500	)			2,585.00		12/16/22			(3,630	)

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

339

---

Schedule of Investments		October 31, 2022
Global X NASDAQ 100® Collar 95-110 ETF

 

 

Description		Number of Contracts			Notional Amount					Exercise Price		Expiration Date		Value
WRITTEN OPTIONS (continued)
Total Written Options					$	(3,360,500	)							$	(15,280	)

* Non-income producing security.

(A) All or a portion of these securities has been segregated as collateral for options contracts. The aggregate market value of collateral at October 31, 2022 was $2,995,961.

 

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

Investments in Securities		Level 1				Level 2				Level 3				Total
Common Stock		$	2,995,961			$	—			$	—			$	2,995,961
Purchased Options			94,325				—				—				94,325
Total Investments in Securities		$	3,090,286			$	—			$	—			$	3,090,286

Other Financial Instruments		Level 1				Level 2				Level 3				Total
Written Options		$	(15,280	)		$	–			$	–			$	(15,280	)
Total Other Financial Instruments		$	(15,280	)		$	–			$	–			$	(15,280	)

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.

340

---

Schedule of Investments	October 31, 2022
Glossary: (abbreviations used in preceding Schedule of Investments)

 

Portfolio Abbreviations

ADR — American Depositary Receipt

Cl — Class

ETF — Exchange-Traded Fund

GDR — Global Depositary Receipt

LIBOR— London Interbank Offered Rate

NVDR — Non-Voting Depositary Receipt

REIT — Real Estate Investment Trust

Ser — Series

USD — U.S. Dollar

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

341

---

Statements of Assets and Liabilities

October 31, 2022

---

		Global X Social Media ETF				Global X Lithium & Battery Tech ETF				Global X Disruptive Materials ETF				Global X E-commerce ETF
Assets:
Cost of Investments		$	250,122,028			$	3,621,759,004			$	4,672,494			$	105,157,365
Cost of Repurchase Agreement			512,797				72,829,304				—				422,380
Cost of Foreign Currency			—				5,360				—				—
Investments, at Value		$	103,504,492	*		$	3,946,386,402	*		$	3,427,483			$	42,492,651	*
Repurchase Agreement, at Value			512,797				72,829,304				—				422,380
Cash			14,723,513				266,330,853				4,540				58,439
Foreign Currency, at Value			1				5,208				—				—
Receivable for Investment Securities Sold			3,622,457				493,274,787				—				—
Dividend, Interest, and Securities Lending Income Receivable			19,713				4,679,150				2,559				11,627
Reclaim Receivable			5,074				36,288				347				—
Unrealized Appreciation on Spot Contracts			1,056				69,048				—				—
Due from Broker			—				22,141				—				—
Total Assets			122,389,103				4,783,633,181				3,434,929				42,985,097
Liabilities:
Obligation to Return Securities Lending Collateral			881,874				125,246,902				—				726,381
Payable for Investment Securities Purchased			18,060,170				721,587,274				—				—
Payable due to Investment Adviser			65,539				2,533,812				1,765				18,198
Payable for Capital Shares Redeemed			—				34,755,846				—				—
Due to Broker			136,074				—				—				—
Total Liabilities			19,143,657				884,123,834				1,765				744,579
Net Assets		$	103,245,446			$	3,899,509,347			$	3,433,164			$	42,240,518
Net Assets Consist of:
Paid-in Capital		$	329,802,348			$	3,986,760,045			$	4,892,040			$	117,759,557
Total Distributable Loss			(226,556,902	)			(87,250,698	)			(1,458,876	)			(75,519,039	)
Net Assets		$	103,245,446			$	3,899,509,347			$	3,433,164			$	42,240,518
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)			4,150,000				58,084,628				190,000				2,790,002
Net Asset Value, Offering and Redemption Price Per Share		$	24.88			$	67.13			$	18.07			$	15.14
*Includes Market Value of Securities on Loan		$	852,592			$	119,253,061			$	—			$	623,392

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

342

---

Statements of Assets and Liabilities

October 31, 2022

---

		Global X Emerging Markets Internet & E-commerce ETF‡				Global X SuperDividend® ETF‡				Global X SuperDividend® U.S. ETF				Global X MSCI SuperDividend® EAFE ETF
Assets:
Cost of Investments		$	4,538,604			$	919,679,903			$	675,171,309			$	10,795,210
Cost of Repurchase Agreement			—				16,356,292				11,310,630				—
Cost of Foreign Currency			—				9,165,578				—				6,184
Investments, at Value		$	2,149,385			$	685,078,771	*		$	689,700,252	*		$	8,351,785
Repurchase Agreement, at Value			—				16,356,292				11,310,630				—
Cash			—				—				213,384				—
Foreign Currency, at Value			2				8,060,632				—				4,770
Unrealized Appreciation on Spot Contracts			—				10				—				27
Receivable for Capital Shares Sold			—				65,537				575,321				—
Receivable for Investment Securities Sold			—				155,093				2,295,231				—
Dividend, Interest, and Securities Lending Income Receivable			—				3,343,039				2,342,504				45,748
Reclaim Receivable			—				369,870				8,115				49,272
Due from Broker			—				305,272				—				—
Total Assets			2,149,387				713,734,516				706,445,437				8,451,602
Liabilities:
Obligation to Return Securities Lending Collateral			—				28,128,443				19,451,255				—
Payable due to Investment Adviser			1,181				417,694				251,909				4,503
Payable for Investment Securities Purchased			—				—				573,827				—
Payable for Capital Shares Redeemed			—				231,088				2,301,282				—
Cash Overdraft			182,037				8,304,884				—				63,531
Due to Broker			—				373,871				2,856				—
Total Liabilities			183,218				37,455,980				22,581,129				68,034
Net Assets		$	1,966,169			$	676,278,536			$	683,864,308			$	8,383,568
Net Assets Consist of:
Paid-in Capital		$	5,961,883			$	1,622,077,132			$	811,489,097			$	12,149,646
Total Distributable Loss			(3,995,714	)			(945,798,596	)			(127,624,789	)			(3,766,078	)
Net Assets		$	1,966,169			$	676,278,536			$	683,864,308			$	8,383,568
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)			120,000				29,333,333				35,660,000				700,000
Net Asset Value, Offering and Redemption Price Per Share		$	16.38			$	23.05			$	19.18			$	11.98
*Includes Market Value of Securities on Loan		$	—			$	26,684,995			$	19,049,555			$	—

‡	The Outstanding Shares of Beneficial Interest and Net Asset Value, Offering and Redemption Price Per Share were updated to reflect the effect of a 1 for 3 reverse share split on December 19, 2022 (See Note 11 in the Notes to Financial Statements).

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

343

---

Statements of Assets and Liabilities

October 31, 2022

---

		Global X MSCI SuperDividend® Emerging Markets ETF‡				Global X SuperDividend® REIT ETF‡				Global X NASDAQ 100® Covered Call ETF				Global X S&P 500® Covered Call ETF
Assets:
Cost of Investments		$	53,878,855			$	368,432,547			$	7,292,685,852			$	2,181,828,476
Cost of Repurchase Agreement			—				12,266,545				—				—
Cost of Foreign Currency			54,868				—				—				—
Investments, at Value		$	39,163,526			$	294,834,166	*		$	6,710,685,276			$	2,049,821,486
Repurchase Agreement, at Value			—				12,266,545				—				—
Cash			—				78,918				75,091,038				20,872,846
Foreign Currency, at Value			1				1,858				—				—
Dividend, Interest, and Securities Lending Income Receivable			258,013				853,448				1,100,221				1,443,439
Reclaim Receivable			18,804				—				—				10,527
Receivable for Investment Securities Sold			—				—				7,829,594				2,246,156
Due from Broker			18,055				5,750				127,769				—
Total Assets			39,458,399				308,040,685				6,794,833,898				2,074,394,454
Liabilities:
Obligation to Return Securities Lending Collateral			—				21,095,173				—				—
Accrued Foreign Capital Gains Tax on Appreciated Securities			39,328				—				—				—
Payable due to Investment Adviser			25,388				141,004				3,242,318				953,818
Payable for Investment Securities Purchased			—				—				379,431				1,332,678
Payable for Capital Shares Redeemed			—				—				7,428,981				—
Options Written at Value (Premiums received $–, $–, $289,674,849 and $71,984,158, respectively)			—				—				321,715,990				117,689,855
Payable for Income Distributions			—				—				64,418,868				19,385,866
Cash Overdraft			225,549				—				—				—
Due to Broker			—				149,872				—				487,157
Total Liabilities			290,265				21,386,049				397,185,588				139,849,374
Net Assets		$	39,168,134			$	286,654,636			$	6,397,648,310			$	1,934,545,080
Net Assets Consist of:
Paid-in Capital		$	76,660,565			$	589,072,843			$	8,102,107,713			$	2,195,958,538
Total Distributable Loss			(37,492,431	)			(302,418,207	)			(1,704,459,403	)			(261,413,458	)
Net Assets		$	39,168,134			$	286,654,636			$	6,397,648,310			$	1,934,545,080
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)			1,833,333				13,243,333				396,140,000				48,360,000
Net Asset Value, Offering and Redemption Price Per Share		$	21.36			$	21.65			$	16.15			$	40.00
*Includes Market Value of Securities on Loan		$	—			$	20,008,218			$	—			$	—

‡	The Outstanding Shares of Beneficial Interest and Net Asset Value, Offering and Redemption Price Per Share were updated to reflect the effect of a 1 for 3 reverse share split on December 19, 2022 (See Note 10 in the Notes to Financial Statements).

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

344

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Statements of Assets and Liabilities

October 31, 2022

---

		Global X Russell 2000 Covered Call ETF				Global X Dow 30® Covered Call ETF				Global X Nasdaq 100® Covered Call & Growth ETF				Global X S&P 500® Covered Call & Growth ETF
Assets:
Cost of Investments		$	1,458,429,351			$	55,076,188			$	77,853,060			$	48,370,800
Investments, at Value		$	1,462,162,960			$	56,990,473			$	62,484,744			$	42,686,542
Cash			15,201,196				558,917				422,311				268,095
Dividend, Interest, and Securities Lending Income Receivable			293,064				33,545				10,162				30,732
Receivable for Investment Securities Sold			67,766				9,288				—				24,390
Reclaim Receivable			—				—				—				217
Due from Broker			487,157				—				—				—
Total Assets			1,478,212,143				57,592,223				62,917,217				43,009,976
Liabilities:
Options Written at Value (Premiums received $59,618,614, $1,800,086, $1,328,561 and $743,280, respectively)			121,998,240				4,086,998				1,488,595				1,225,516
Payable for Income Distributions			13,251,285				496,110				292,456				199,675
Payable due to Investment Adviser			721,454				24,525				31,478				22,732
Payable for Investment Securities Purchased			—				—				—				51,514
Total Liabilities			135,970,979				4,607,633				1,812,529				1,499,437
Net Assets		$	1,342,241,164			$	52,984,590			$	61,104,688			$	41,510,539
Net Assets Consist of:
Paid-in Capital		$	1,520,843,943			$	54,449,450			$	81,196,412			$	48,914,928
Total Distributable Loss			(178,602,779	)			(1,464,860	)			(20,091,724	)			(7,404,389	)
Net Assets		$	1,342,241,164			$	52,984,590			$	61,104,688			$	41,510,539
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)			68,650,000				2,420,000				2,680,000				1,630,000
Net Asset Value, Offering and Redemption Price Per Share		$	19.55			$	21.89			$	22.80			$	25.47

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

345

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Statements of Assets and Liabilities

October 31, 2022

---

		Global X Russell 2000 Covered Call & Growth ETF				Global X SuperIncome™ Preferred ETF				Global X Renewable Energy Producers ETF				Global X S&P 500® Catholic Values ETF
Assets:
Cost of Investments		$	2,657,252			$	220,331,775			$	120,249,457			$	508,572,240
Cost of Repurchase Agreement			—				1,509,559				379,249				—
Cost of Foreign Currency			—				—				6,967				—
Investments, at Value		$	2,769,770			$	195,260,988	*		$	91,181,501	*		$	548,776,363
Repurchase Agreement, at Value			—				1,509,559				379,249				—
Cash			16,607				328,881				—				1,100,905
Foreign Currency, at Value			—				—				6,975				—
Receivable for Investment Securities Sold			—				580,071				—				—
Dividend, Interest, and Securities Lending Income Receivable			—				730,936				84,594				389,434
Reclaim Receivable			—				—				74,665				2,885
Due from Broker			—				23,170				17,761				6,695
Total Assets			2,786,377				198,433,605				91,744,745				550,276,282
Liabilities:
Obligation to Return Securities Lending Collateral			—				2,596,038				652,206				—
Options Written at Value (Premiums received $56,428, $–, $– and $–, respectively)			114,419				—				—				—
Payable for Income Distributions			12,860				—				—				—
Payable due to Investment Adviser			907				98,062				53,389				128,078
Payable for Investment Securities Purchased			—				—				—				856,379
Payable for Capital Shares Redeemed			—				580,255				—				—
Unrealized Depreciation on Spot Contracts			—				—				9				—
Cash Overdraft			—				—				67,978				—
Due to Broker			—				—				1,637				4,179
Total Liabilities			128,186				3,274,355				775,219				988,636
Net Assets		$	2,658,191			$	195,159,250			$	90,969,526			$	549,287,646
Net Assets Consist of:
Paid-in Capital		$	2,590,000			$	291,838,192			$	127,987,795			$	514,431,354
Total Distributable Earnings/(Loss)			68,191				(96,678,942	)			(37,018,269	)			34,856,292
Net Assets		$	2,658,191			$	195,159,250			$	90,969,526			$	549,287,646
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)			100,000				20,180,000				6,970,000				11,640,000
Net Asset Value, Offering and Redemption Price Per Share		$	26.58			$	9.67			$	13.05			$	47.19
*Includes Market Value of Securities on Loan		$	—			$	2,547,226			$	627,763			$	—

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

346

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Statements of Assets and Liabilities

October 31, 2022

---

		Global X S&P Catholic Values Developed ex-U.S. ETF				Global X Guru® Index ETF				Global X S&P 500® Tail Risk ETF				Global X S&P 500® Risk Managed Income ETF
Assets:
Cost of Investments		$	6,587,405			$	53,293,014			$	3,457,065			$	29,657,861
Cost of Repurchase Agreement			—				457,815				—				—
Investments, at Value		$	5,587,040			$	46,816,732	*		$	3,013,059			$	26,082,732
Repurchase Agreement, at Value			—				457,815				—				—
Cash			—				62,558				6,899				276,905
Foreign Currency, at Value			152				—				—				—
Dividend, Interest, and Securities Lending Income Receivable			13,259				14,095				2,184				18,728
Reclaim Receivable			2,452				—				16				136
Unrealized Appreciation on Spot Contracts			2				—				—				—
Receivable for Investment Securities Sold			—				—				—				28,618
Due from Broker			1,074				—				—				—
Total Assets			5,603,979				47,351,200				3,022,158				26,407,119
Liabilities:
Obligation to Return Securities Lending Collateral			—				787,320				—				—
Payable due to Investment Adviser			1,645				28,793				1,494				14,750
Payable for Capital Shares Redeemed			1,074				—				—				—
Payable for Investment Securities Purchased			—				—				3,256				16,964
Options Written at Value (Premiums received $–, $–, $– and $907,794, respectively)			—				—				—				1,494,402
Payable for Income Distributions			—				—				—				247,338
Cash Overdraft			8,938				—				—				—
Total Liabilities			11,657				816,113				4,750				1,773,454
Net Assets		$	5,592,322			$	46,535,087			$	3,017,408			$	24,633,665
Net Assets Consist of:
Paid-in Capital		$	6,672,279			$	70,694,757			$	3,526,120			$	28,577,970
Total Distributable Loss			(1,079,957	)			(24,159,670	)			(508,712	)			(3,944,305	)
Net Assets		$	5,592,322			$	46,535,087			$	3,017,408			$	24,633,665
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)			240,000				1,390,000				130,000				1,170,000
Net Asset Value, Offering and Redemption Price Per Share		$	23.30			$	33.48			$	23.21			$	21.05
*Includes Market Value of Securities on Loan		$	—			$	749,336			$	—			$	—

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

347

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Statements of Assets and Liabilities

October 31, 2022

---

		Global X S&P 500® Collar 95-110 ETF				Global X NASDAQ 100® Tail Risk ETF				Global X NASDAQ 100® Risk Managed Income ETF				Global X NASDAQ 100® Collar 95-110 ETF
Assets:
Cost of Investments		$	4,468,250			$	2,560,792			$	14,573,605			$	4,184,642
Investments, at Value		$	3,935,577			$	1,906,039			$	11,245,184			$	3,090,286
Cash			5,462				2,613				123,614				7,065
Receivable for Investment Securities Sold			4,652				—				—				—
Dividend, Interest, and Securities Lending Income Receivable			2,803				304				1,836				487
Reclaim Receivable			20				—				—				—
Total Assets			3,948,514				1,908,956				11,370,634				3,097,838
Liabilities:
Options Written at Value (Premiums received $42,899, $–, $476,649 and $66,535, respectively)			20,585				—				536,740				15,280
Payable for Investment Securities Purchased			10,829				—				—				—
Payable due to Investment Adviser			2,419				972				5,902				2,018
Payable for Income Distributions			—				—				108,442				—
Total Liabilities			33,833				972				651,084				17,298
Net Assets		$	3,914,681			$	1,907,984			$	10,719,550			$	3,080,540
Net Assets Consist of:
Paid-in Capital		$	4,298,873			$	2,652,279			$	13,123,481			$	3,612,367
Total Distributable Loss			(384,192	)			(744,295	)			(2,403,931	)			(531,827	)
Net Assets		$	3,914,681			$	1,907,984			$	10,719,550			$	3,080,540
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)			160,000				100,000				590,000				140,000
Net Asset Value, Offering and Redemption Price Per Share		$	24.47			$	19.08			$	18.17			$	22.00

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

348

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Statements of Operations

For the year ended October 31, 2022

---

		Global X Social Media ETF				Global X Lithium & Battery Tech ETF				Global X Disruptive Materials ETF(1)				Global X E-commerce ETF
Investment Income:
Dividend Income		$	1,682,647			$	48,077,082			$	110,418			$	878,893
Interest Income			—				169				—				—
Security Lending Income			22,663				11,973,691				—				14,128
Less: Foreign Taxes Withheld			(25,523	)			(7,948,349	)			(10,904	)			(2,851	)
Total Investment Income			1,679,787				52,102,593				99,514				890,170
Supervision and Administration Fees(2)			1,527,640				35,950,931				17,940				527,219
Tax Expense			—				70,214				—				—
Custodian Fees(3)			4,510				35,317				92				108
Total Expenses			1,532,150				36,056,462				18,032				527,327
Net Investment Income			147,637				16,046,131				81,482				362,843
Net Realized Gain (Loss) on:
Investments(4)			(59,046,229	)			(89,527,108	)			(201,997	)			(31,321,990	)
Foreign Currency Transactions			(2,800	)			(1,208,560	)			(1,579	)			(3,260	)
Net Realized Gain (Loss)			(59,049,029	)			(90,735,668	)			(203,576	)			(31,325,250	)
Net Change in Unrealized Appreciation (Depreciation) on:
Investments			(148,545,589	)			(1,486,830,833	)			(1,245,011	)			(50,085,062	)
Foreign Currency Translations			843				438,339				(82	)			—
Net Change in Unrealized Appreciation (Depreciation)			(148,544,746	)			(1,486,392,494	)			(1,245,093	)			(50,085,062	)
Net Realized and Unrealized Gain (Loss)			(207,593,775	)			(1,577,128,162	)			(1,448,669	)			(81,410,312	)
Net Decrease in Net Assets Resulting from Operations		$	(207,446,138	)		$	(1,561,082,031	)		$	(1,367,187	)		$	(81,047,469	)

(1)	The Fund commenced operations on January 24, 2022.
(2)	The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.)
(3)	See Note 2 in the Notes to Financial Statements.
(4)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

349

---

Statements of Operations

For the year ended October 31, 2022

---

		Global X Emerging Markets Internet & E-commerce ETF				Global X SuperDividend® ETF				Global X SuperDividend® U.S. ETF				Global X MSCI SuperDividend® EAFE ETF
Investment Income:
Dividend Income		$	24,491			$	66,287,339			$	26,274,279			$	907,252
Interest Income			11				4,802				1,992				(1	)
Security Lending Income			—				1,835,869				144,272				—
Less: Foreign Taxes Withheld			(612	)			(2,303,254	)			—				(74,265	)
Total Investment Income			23,890				65,824,756				26,420,543				832,986
Supervision and Administration Fees(1)			19,552				4,770,868				3,136,379				61,466
Custodian Fees(2)			36				256,427				13,725				1,900
Total Expenses			19,588				5,027,295				3,150,104				63,366
Net Investment Income			4,302				60,797,461				23,270,439				769,620
Net Realized Gain (Loss) on:
Investments(3)			(1,481,838	)			(160,369,279	)			64,409,036				171,043
Foreign Currency Transactions			(733	)			(1,234,832	)			—				(10,201	)
Net Realized Gain (Loss)			(1,482,571	)			(161,604,111	)			64,409,036				160,842
Net Change in Unrealized Appreciation (Depreciation) on:
Investments			(927,025	)			(229,337,330	)			(82,329,930	)			(2,893,092	)
Foreign Currency Translations			6				(376,642	)			—				(6,301	)
Net Change in Unrealized Appreciation (Depreciation)			(927,019	)			(229,713,972	)			(82,329,930	)			(2,899,393	)
Net Realized and Unrealized Gain (Loss)			(2,409,590	)			(391,318,083	)			(17,920,894	)			(2,738,551	)
Net Increase (Decrease) in Net Assets Resulting from Operations		$	(2,405,288	)		$	(330,520,622	)		$	5,349,545			$	(1,968,931	)

(1)	The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.)
(2)	See Note 2 in the Notes to Financial Statements.
(3)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

350

---

Statements of Operations

For the year ended October 31, 2022

---

		Global X MSCI SuperDividend® Emerging Markets ETF				Global X SuperDividend® REIT ETF				Global X NASDAQ 100® Covered Call ETF				Global X S&P 500® Covered Call ETF
Investment Income:
Dividend Income		$	4,874,772			$	19,001,666			$	55,229,125			$	22,615,241
Interest Income			1,726				—				152,144				32,593
Security Lending Income			—				38,666				—				—
Less: Foreign Taxes Withheld			(546,923	)			(768,516	)			(114,168	)			(20,154	)
Total Investment Income			4,329,575				18,271,816				55,267,101				22,627,680
Supervision and Administration Fees(1)			429,924				2,142,347				38,866,576				8,472,002
Custodian Fees(2)			10,572				21,701				208,799				39,205
Total Expenses			440,496				2,164,048				39,075,375				8,511,207
Net Investment Income			3,889,079				16,107,768				16,191,726				14,116,473
Net Realized Gain (Loss) on:
Investments(3)			(15,614,832	)			14,080,595				(171,432,824	)			(30,084,701	)
Purchased Options			—				—				309,965,446				—
Written Options			—				—				236,530,037				66,176,874
Foreign Currency Transactions			(82,364	)			(117,393	)			—				—
Net Realized Gain (Loss)			(15,697,196	)			13,963,202				375,062,659				36,092,173
Net Change in Unrealized Appreciation (Depreciation) on:
Investments			(11,826,184	)			(114,867,084	)			(1,949,409,093	)			(221,141,223	)
Written Options			—				—				137,334,997				(32,226,391	)
Foreign Capital Gains Tax on Appreciated Securities			100,820				—				—				—
Foreign Currency Translations			9,418				(16,700	)			—				—
Net Change in Unrealized Appreciation (Depreciation)			(11,715,946	)			(114,883,784	)			(1,812,074,096	)			(253,367,614	)
Net Realized and Unrealized Gain (Loss)			(27,413,142	)			(100,920,582	)			(1,437,011,437	)			(217,275,441	)
Net Decrease in Net Assets Resulting from Operations		$	(23,524,063	)		$	(84,812,814	)		$	(1,420,819,711	)		$	(203,158,968	)

(1)	The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.)
(2)	See Note 2 in the Notes to Financial Statements.
(3)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

351

---

Statements of Operations

For the year ended October 31, 2022

---

		Global X Russell 2000 Covered Call ETF				Global X Dow 30® Covered Call ETF(1)				Global X Nasdaq 100® Covered Call & Growth ETF				Global X S&P 500® Covered Call & Growth ETF
Investment Income:
Dividend Income		$	15,782,088			$	341,877			$	485,730			$	591,086
Interest Income			11,118				—				—				—
Less: Foreign Taxes Withheld			(13,550	)			—				(1,066	)			(127	)
Total Investment Income			15,779,656				341,877				484,664				590,959
Supervision and Administration Fees(2)			6,700,656				101,108				349,272				227,859
Custodian Fees(3)			195,367				2,090				3,673				5,124
Total Expenses			6,896,023				103,198				352,945				232,983
Waiver of Supervision and Administration Fees			(719,490	)			–				–				–
Net Expenses			6,176,533				103,198				352,945				232,983
Net Investment Income			9,603,123				238,679				131,719				357,976
Net Realized Gain (Loss) on:
Investments(4)			(187,735,875	)			(337,758	)			756,311				1,333,018
Purchased Options			—				—				1,035,116				382,385
Written Options			111,479,681				(258,366	)			1,512,432				695,347
Net Realized Gain (Loss)			(76,256,194	)			(596,124	)			3,303,859				2,410,750
Net Change in Unrealized Appreciation (Depreciation) on:
Investments			(22,844,248	)			1,914,285				(20,433,190	)			(7,590,036	)
Written Options			(63,527,543	)			(2,286,912	)			572,453				(120,239	)
Net Change in Unrealized Appreciation (Depreciation)			(86,371,791	)			(372,627	)			(19,860,737	)			(7,710,275	)
Net Realized and Unrealized Gain (Loss)			(162,627,985	)			(968,751	)			(16,556,878	)			(5,299,525	)
Net Decrease in Net Assets Resulting from Operations		$	(153,024,862	)		$	(730,072	)		$	(16,425,159	)		$	(4,941,549	)

(1)	The Fund commenced operations on February 23, 2022.
(2)	The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.)
(3)	See Note 2 in the Notes to Financial Statements.
(4)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

352

---

Statements of Operations

For the year ended October 31, 2022

---

		Global X Russell 2000 Covered Call & Growth ETF(1)				Global X SuperIncome™ Preferred ETF				Global X Renewable Energy Producers ETF				Global X S&P 500® Catholic Values ETF
Investment Income:
Dividend Income		$	—			$	11,629,621			$	1,907,672			$	8,549,702
Interest Income			—				926				215,714				2,857
Security Lending Income			—				202,723				70,260				—
Less: Foreign Taxes Withheld			—				(4,401	)			(239,351	)			(2,047	)
Total Investment Income			—				11,828,869				1,954,295				8,550,512
Supervision and Administration Fees(2)			1,091				1,220,587				763,510				1,696,326
Custodian Fees(3)			—				4,253				7,124				399
Total Expenses			1,091				1,224,840				770,634				1,696,725
Waiver of Supervision and Administration Fees			(183	)			–				–				–
Net Expenses			908				1,224,840				770,634				1,696,725
Net Investment Income (Loss)			(908	)			10,604,029				1,183,661				6,853,787
Net Realized Gain (Loss) on:
Investments(4)			—				(9,393,788	)			1,053,246				21,294,231
Written Options			27,432				—				—				—
Foreign Currency Transactions			—				—				(113,535	)			—
Net Realized Gain (Loss)			27,432				(9,393,788	)			939,711				21,294,231
Net Change in Unrealized Appreciation (Depreciation) on:
Investments			112,518				(32,526,988	)			(31,391,702	)			(137,525,098	)
Written Options			(57,991	)			—				—				—
Foreign Currency Translations			—				—				(4,383	)			—
Net Change in Unrealized Appreciation (Depreciation)			54,527				(32,526,988	)			(31,396,085	)			(137,525,098	)
Net Realized and Unrealized Gain (Loss)			81,959				(41,920,776	)			(30,456,374	)			(116,230,867	)
Net Increase (Decrease) in Net Assets Resulting from Operations		$	81,051			$	(31,316,747	)		$	(29,272,713	)		$	(109,377,080	)

(1)	The Fund commenced operations on October 4, 2022.
(2)	The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.)
(3)	See Note 2 in the Notes to Financial Statements.
(4)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

353

---

Statements of Operations

For the year ended October 31, 2022

---

		Global X S&P Catholic Values Developed ex-U.S. ETF				Global X Guru® Index ETF				Global X S&P 500® Tail Risk ETF				Global X S&P 500® Risk Managed Income ETF
Investment Income:
Dividend Income		$	188,764			$	416,392			$	49,803			$	308,328
Interest Income			2				220				—				—
Security Lending Income			—				22,531				—				—
Less: Foreign Taxes Withheld			(19,713	)			(1,600	)			(13	)			(73	)
Total Investment Income			169,053				437,543				49,790				308,255
Supervision and Administration Fees(1)			18,596				427,935				19,622				115,866
Custodian Fees(2)			141				331				235				5,906
Total Expenses			18,737				428,266				19,857				121,772
Net Investment Income			150,316				9,277				29,933				186,483
Net Realized Gain (Loss) on:
Investments(3)			(110,074	)			(10,085,129	)			(10,803	)			(180,697	)
Purchased Options			—				—				12,305				1,034,185
Written Options			—				—				—				302,290
Foreign Currency Transactions			(3,129	)			—				—				—
Net Realized Gain (Loss)			(113,203	)			(10,085,129	)			1,502				1,155,778
Net Change in Unrealized Appreciation (Depreciation) on:
Investments			(1,701,045	)			(14,494,976	)			(520,696	)			(3,536,984	)
Purchased Options			—				—				(1,120	)			(204,000	)
Written Options			—				—				—				(471,113	)
Foreign Currency Translations			(444	)			—				—				—
Net Change in Unrealized Appreciation (Depreciation)			(1,701,489	)			(14,494,976	)			(521,816	)			(4,212,097	)
Net Realized and Unrealized Gain (Loss)			(1,814,692	)			(24,580,105	)			(520,314	)			(3,056,319	)
Net Decrease in Net Assets Resulting from Operations		$	(1,664,376	)		$	(24,570,828	)		$	(490,381	)		$	(2,869,836	)

(1)	The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.)
(2)	See Note 2 in the Notes to Financial Statements.
(3)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

354

---

Statements of Operations

For the year ended October 31, 2022

---

		Global X S&P 500® Collar 95-110 ETF				Global X NASDAQ 100® Tail Risk ETF				Global X NASDAQ 100® Risk Managed Income ETF				Global X NASDAQ 100® Collar 95-110 ETF
Investment Income:
Dividend Income		$	57,864			$	22,809			$	89,337			$	30,596
Less: Foreign Taxes Withheld			(14	)			(42	)			(184	)			(64	)
Total Investment Income			57,850				22,767				89,153				30,532
Supervision and Administration Fees(1)			22,585				17,228				66,424				22,722
Custodian Fees(2)			1,356				214				2,208				905
Total Expenses			23,941				17,442				68,632				23,627
Net Investment Income			33,909				5,325				20,521				6,905
Net Realized Gain (Loss) on:
Investments(3)			(20,957	)			(65,872	)			(855,385	)			(92,597	)
Purchased Options			101,661				1,806				1,331,844				391,807
Written Options			79,581				—				484,654				210,467
Net Realized Gain (Loss)			160,285				(64,066	)			961,113				509,677
Net Change in Unrealized Appreciation (Depreciation) on:
Investments			(571,552	)			(738,492	)			(3,381,535	)			(1,147,801	)
Purchased Options			(9,261	)			17,998				(91,059	)			14,841
Written Options			22,060				—				90,428				49,958
Net Change in Unrealized Appreciation (Depreciation)			(558,753	)			(720,494	)			(3,382,166	)			(1,083,002	)
Net Realized and Unrealized Gain (Loss)			(398,468	)			(784,560	)			(2,421,053	)			(573,325	)
Net Decrease in Net Assets Resulting from Operations		$	(364,559	)		$	(779,235	)		$	(2,400,532	)		$	(566,420	)

(1)	The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.)
(2)	See Note 2 in the Notes to Financial Statements.
(3)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

355

---

Statements of Changes in Net Assets

---

		Global X Social Media ETF								Global X Lithium & Battery Tech ETF
		Year Ended October 31, 2022				Year Ended October 31, 2021				Year Ended October 31, 2022				Year Ended October 31, 2021
Operations:
Net Investment Income (Loss)		$	147,637			$	(1,911,606	)		$	16,046,131			$	5,390,819
Net Realized Gain (Loss)			(59,049,029	)			103,952,942				(90,735,668	)			274,489,561
Net Change in Unrealized Appreciation (Depreciation)			(148,544,746	)			(71,438,661	)			(1,486,392,494	)			1,628,377,103
Net Increase (Decrease) in Net Assets Resulting from Operations			(207,446,138	)			30,602,675				(1,561,082,031	)			1,908,257,483
Distributions			—				—				(13,550,903	)			(4,617,167	)
Return of Capital			(663,636	)			—				—				—
Capital Share Transactions:
Issued			4,148,772				312,935,286				987,083,874				3,085,540,584
Redeemed			(94,686,332	)			(167,644,538	)			(888,340,328	)			(482,676,020	)
Increase (Decrease) in Net Assets from Capital Share Transactions			(90,537,560	)			145,290,748				98,743,546				2,602,864,564
Total Increase (Decrease) in Net Assets			(298,647,334	)			175,893,423				(1,475,889,388	)			4,506,504,880
Net Assets:
Beginning of Year			401,892,780				225,999,357				5,375,398,735				868,893,855
End of Year		$	103,245,446			$	401,892,780			$	3,899,509,347			$	5,375,398,735
Share Transactions:
Issued			130,000				4,480,000				11,480,000				45,050,000
Redeemed			(2,540,000	)			(2,270,000	)			(12,420,000	)			(6,300,000	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions			(2,410,000	)			2,210,000				(940,000	)			38,750,000

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

356

---

Statements of Changes in Net Assets

---

		Global X Disruptive Materials ETF				Global X E-commerce ETF
		Period Ended October 31, 2022(1)				Year Ended October 31, 2022				Year Ended October 31, 2021
Operations:
Net Investment Income (Loss)		$	81,482			$	362,843			$	(220,637	)
Net Realized Gain (Loss)			(203,576	)			(31,325,250	)			20,994,579
Net Change in Unrealized Appreciation (Depreciation)			(1,245,093	)			(50,085,062	)			(15,365,762	)
Net Increase (Decrease) in Net Assets Resulting from Operations			(1,367,187	)			(81,047,469	)			5,408,180
Distributions			(47,516	)			(897,920	)			(1,105,636	)
Return of Capital			—				(66,565	)			—
Capital Share Transactions:
Issued			6,008,659				21,458,714				157,633,184
Redeemed			(1,160,792	)			(94,957,434	)			(55,267,404	)
Increase (Decrease) in Net Assets from Capital Share Transactions			4,847,867				(73,498,720	)			102,365,780
Total Increase (Decrease) in Net Assets			3,433,164				(155,510,674	)			106,668,324
Net Assets:
Beginning of Year			—				197,751,192				91,082,868
End of Year		$	3,433,164			$	42,240,518			$	197,751,192
Share Transactions:
Issued			240,000				1,000,000				4,640,000
Redeemed			(50,000	)			(4,550,000	)			(1,700,000	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions			190,000				(3,550,000	)			2,940,000

(1)	The Fund commenced operations on January 24, 2022.

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

357

---

Statements of Changes in Net Assets

---

		Global X Emerging Markets Internet & E-commerce ETF‡								Global X SuperDividend® ETF‡
		Year Ended October 31, 2022				Period Ended October 31, 2021(1)				Year Ended October 31, 2022				Year Ended October 31, 2021
Operations:
Net Investment Income (Loss)		$	4,302			$	(27,611	)		$	60,797,461			$	61,535,540
Net Realized Gain (Loss)			(1,482,571	)			(323,485	)			(161,604,111	)			73,981,878
Net Change in Unrealized Appreciation (Depreciation)			(927,019	)			(1,462,197	)			(229,713,972	)			61,523,433
Net Increase (Decrease) in Net Assets Resulting from Operations			(2,405,288	)			(1,813,293	)			(330,520,622	)			197,040,851
Distributions			—				—				(68,726,670	)			(65,648,210	)
Return of Capital			(9,979	)			—				(25,091,152	)			—
Capital Share Transactions:
Issued			—				7,267,793				193,866,024				177,439,475
Redeemed			(173,768	)			(899,296	)			(23,680,516	)			(5,271,538	)
Increase (Decrease) in Net Assets from Capital Share Transactions			(173,768	)			6,368,497				170,185,508				172,167,937
Total Increase (Decrease) in Net Assets			(2,589,035	)			4,555,204				(254,152,936	)			303,560,578
Net Assets:
Beginning of Year			4,555,204				—				930,431,472				626,870,894
End of Year		$	1,966,169			$	4,555,204			$	676,278,536			$	930,431,472
Share Transactions:
Issued			—				150,000				6,286,667				4,276,667
Redeemed			(6,667	)			(23,333	)			(796,667	)			(133,333	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions			(6,667	)			126,667				5,490,000				4,143,334

(1)	The Fund commenced operations on November 9, 2020.
‡	Share transactions have been adjusted to reflect the effect of a 1 for 3 reverse share split on December 19, 2022 (See Note 11 in the Notes to Financial Statements).

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

358

---

Statements of Changes in Net Assets

---

		Global X SuperDividend® U.S. ETF								Global X MSCI SuperDividend® EAFE ETF
		Year Ended October 31, 2022				Year Ended October 31, 2021				Year Ended October 31, 2022				Year Ended October 31, 2021
Operations:
Net Investment Income		$	23,270,439			$	21,001,659			$	769,620			$	600,163
Net Realized Gain (Loss)			64,409,036				53,431,904				160,842				1,264,371
Net Change in Unrealized Appreciation (Depreciation)			(82,329,930	)			114,820,912				(2,899,393	)			1,338,122
Net Increase (Decrease) in Net Assets Resulting from Operations			5,349,545				189,254,475				(1,968,931	)			3,202,656
Distributions			(27,892,254	)			(31,364,614	)			(742,260	)			(542,165	)
Return of Capital			(13,969,909	)			(3,660,741	)			—				—
Capital Share Transactions:
Issued			157,123,738				143,549,897				135,570				4,890,027
Redeemed			(106,481,128	)			(40,154,269	)			(3,098,512	)			(928,933	)
Increase (Decrease) in Net Assets from Capital Share Transactions			50,642,610				103,395,628				(2,962,942	)			3,961,094
Total Increase (Decrease) in Net Assets			14,129,992				257,624,748				(5,674,133	)			6,621,585
Net Assets:
Beginning of Year			669,734,316				412,109,568				14,057,701				7,436,116
End of Year		$	683,864,308			$	669,734,316			$	8,383,568			$	14,057,701
Share Transactions:
Issued			7,750,000				7,860,000				10,000				310,000
Redeemed			(5,360,000	)			(2,090,000	)			(210,000	)			(60,000	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions			2,390,000				5,770,000				(200,000	)			250,000

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

359

---

Statements of Changes in Net Assets

---

		Global X MSCI SuperDividend® Emerging Markets ETF‡								Global X SuperDividend® REIT ETF‡
		Year Ended October 31, 2022				Year Ended October 31, 2021				Year Ended October 31, 2022				Year Ended October 31, 2021
Operations:
Net Investment Income		$	3,889,079			$	3,890,630			$	16,107,768			$	17,999,548
Net Realized Gain (Loss)			(15,697,196	)			1,547,026				13,963,202				(7,237,478	)
Net Change in Unrealized Appreciation (Depreciation)			(11,715,946	)			(1,736,940	)			(114,883,784	)			115,855,547
Net Increase (Decrease) in Net Assets Resulting from Operations			(23,524,063	)			3,700,716				(84,812,814	)			126,617,617
Distributions			(5,018,224	)			(2,831,439	)			(15,789,114	)			(19,492,525	)
Return of Capital			(1,057,591	)			—				(9,960,386	)			(9,729,725	)
Capital Share Transactions:
Issued			23,410,044				41,819,662				2,797,978				112,985,429
Redeemed			(17,338,196	)			—				(73,515,296	)			(54,071,703	)
Increase (Decrease) in Net Assets from Capital Share Transactions			6,071,848				41,819,662				(70,717,318	)			58,913,726
Total Increase (Decrease) in Net Assets			(23,528,030	)			42,688,939				(181,279,632	)			156,309,093
Net Assets:
Beginning of Year			62,696,164				20,007,225				467,934,268				311,625,175
End of Year		$	39,168,134			$	62,696,164			$	286,654,636			$	467,934,268
Share Transactions:
Issued			720,000				1,156,667				113,333				3,993,333
Redeemed			(743,333	)			—				(2,750,000	)			(1,846,667	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions			(23,333	)			1,156,667				(2,636,667	)			2,146,666

‡	Share transactions have been adjusted to reflect the effect of a 1 for 3 reverse share split on December 19, 2022 (See Note 11 in the Notes to Financial Statements).

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

360

---

Statements of Changes in Net Assets

---

		Global X NASDAQ 100® Covered Call ETF								Global X S&P 500® Covered Call ETF
		Year Ended October 31, 2022				Year Ended October 31, 2021				Year Ended October 31, 2022				Year Ended October 31, 2021
Operations:
Net Investment Income		$	16,191,726			$	3,013,239			$	14,116,473			$	2,258,752
Net Realized Gain (Loss)			375,062,659				(230,364,474	)			36,092,173				(3,328,421	)
Net Change in Unrealized Appreciation (Depreciation)			(1,812,074,096	)			735,524,124				(253,367,614	)			65,289,214
Net Increase (Decrease) in Net Assets Resulting from Operations			(1,420,819,711	)			508,172,889				(203,158,968	)			64,219,545
Distributions			(211,906,795	)			(320,053,733	)			(35,714,783	)			(26,627,258	)
Return of Capital			(642,111,562	)			—				(133,893,882	)			—
Capital Share Transactions:
Issued			4,057,801,963				3,548,421,512				1,708,732,044				535,288,406
Redeemed			(421,530,332	)			(25,968,248	)			(71,274,199	)			(7,017,545	)
Increase in Net Assets from Capital Share Transactions			3,636,271,631				3,522,453,264				1,637,457,845				528,270,861
Total Increase in Net Assets			1,361,433,563				3,710,572,420				1,264,690,212				565,863,148
Net Assets:
Beginning of Year			5,036,214,747				1,325,642,327				669,854,868				103,991,720
End of Year		$	6,397,648,310			$	5,036,214,747			$	1,934,545,080			$	669,854,868
Share Transactions:
Issued			200,110,000				157,690,000				36,750,000				11,000,000
Redeemed			(24,700,000	)			(1,160,000	)			(1,690,000	)			(150,000	)
Net Increase in Shares Outstanding from Share Transactions			175,410,000				156,530,000				35,060,000				10,850,000

(1)	See Note 10 in Notes to Financial Statements

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

361

---

Statements of Changes in Net Assets

---

		Global X Russell 2000 Covered Call ETF				Global X Dow 30® Covered Call ETF
		Year Ended October 31, 2022				Year Ended October 31, 2021				Period Ended October 31, 2022(1)
Operations:
Net Investment Income		$	9,603,123			$	931,659			$	238,679
Net Realized Gain (Loss)			(76,256,194	)			5,915,793				(596,124	)
Net Change in Unrealized Appreciation (Depreciation)			(86,371,791	)			26,525,513				(372,627	)
Net Increase (Decrease) in Net Assets Resulting from Operations			(153,024,862	)			33,372,965				(730,072	)
Distributions			(32,998,311	)			(21,788,088	)			(734,788	)
Return of Capital			(105,055,357	)			—				(1,115,840	)
Capital Share Transactions:
Issued			1,143,457,691				521,879,514				55,565,290
Redeemed			(64,583,797	)			(493,345	)			—
Increase in Net Assets from Capital Share Transactions			1,078,873,894				521,386,169				55,565,290
Total Increase in Net Assets			787,795,364				532,971,046				52,984,590
Net Assets:
Beginning of Year			554,445,800				21,474,754				—
End of Year		$	1,342,241,164			$	554,445,800			$	52,984,590
Share Transactions:
Issued			49,770,000				20,990,000				2,420,000
Redeemed			(3,140,000	)			(20,000	)			—
Net Increase in Shares Outstanding from Share Transactions			46,630,000				20,970,000				2,420,000

(1)	The Fund commenced operations on February 23, 2022.
(2)	See Note 10 in Notes to Financial Statements

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

362

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Statements of Changes in Net Assets

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		Global X Nasdaq 100® Covered Call & Growth ETF								Global X S&P 500® Covered Call & Growth ETF
		Year Ended October 31, 2022				Year Ended October 31, 2021				Year Ended October 31, 2022				Year Ended October 31, 2021
Operations:
Net Investment Income		$	131,719			$	9,199			$	357,976			$	62,067
Net Realized Gain (Loss)			3,303,859				(254,466	)			2,410,750				553,356
Net Change in Unrealized Appreciation (Depreciation)			(19,860,737	)			4,363,334				(7,710,275	)			1,561,682
Net Increase (Decrease) in Net Assets Resulting from Operations			(16,425,159	)			4,118,067				(4,941,549	)			2,177,105
Distributions			(3,262,405	)			(919,727	)			(1,865,684	)			(376,497	)
Return of Capital			(2,741,520	)			—				(1,465,030	)			—
Capital Share Transactions:
Issued			55,565,131				37,707,138				28,875,885				33,611,221
Redeemed			(16,702,729	)			(2,801,664	)			(14,111,207	)			(4,097,596	)
Increase in Net Assets from Capital Share Transactions			38,862,402				34,905,474				14,764,678				29,513,625
Total Increase in Net Assets			16,433,318				38,103,814				6,492,415				31,314,233
Net Assets:
Beginning of Year			44,671,370				6,567,556				35,018,124				3,703,891
End of Year		$	61,104,688			$	44,671,370			$	41,510,539			$	35,018,124
Share Transactions:
Issued			1,900,000				1,200,000				1,020,000				1,100,000
Redeemed			(570,000	)			(100,000	)			(490,000	)			(150,000	)
Net Increase in Shares Outstanding from Share Transactions			1,330,000				1,100,000				530,000				950,000

(1)	See Note 10 in Notes to Financial Statements

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

363

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Statements of Changes in Net Assets

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		Global X Russell 2000 Covered Call & Growth ETF				Global X SuperIncome™ Preferred ETF
		Period Ended October 31, 2022(1)				Year Ended October 31, 2022				Year Ended October 31, 2021
Operations:
Net Investment Income (Loss)		$	(908	)		$	10,604,029			$	10,851,739
Net Realized Gain (Loss)			27,432				(9,393,788	)			7,442,457
Net Change in Unrealized Appreciation (Depreciation)			54,527				(32,526,988	)			7,403,025
Net Increase (Decrease) in Net Assets Resulting from Operations			81,051				(31,316,747	)			25,697,221
Distributions			(12,860	)			(12,532,497	)			(12,037,890	)
Return of Capital			—				(653,473	)			—
Capital Share Transactions:
Issued			2,590,000				24,951,801				44,774,820
Redeemed			—				(20,242,558	)			(7,496,771	)
Increase in Net Assets from Capital Share Transactions			2,590,000				4,709,243				37,278,049
Total Increase (Decrease) in Net Assets			2,658,191				(39,793,474	)			50,937,380
Net Assets:
Beginning of Year			—				234,952,724				184,015,344
End of Year		$	2,658,191			$	195,159,250			$	234,952,724
Share Transactions:
Issued			100,000				2,370,000				3,760,000
Redeemed			—				(1,870,000	)			(630,000	)
Net Increase in Shares Outstanding from Share Transactions			100,000				500,000				3,130,000

(1)	The Fund commenced operations on October 4, 2022.

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

364

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Statements of Changes in Net Assets

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		Global X Renewable Energy Producers ETF								Global X S&P 500® Catholic Values ETF
		Year Ended October 31, 2022				Year Ended October 31, 2021				Year Ended October 31, 2022				Year Ended October 31, 2021
Operations:
Net Investment Income		$	1,183,661			$	1,617,480			$	6,853,787			$	5,643,588
Net Realized Gain			939,711				7,157,351				21,294,231				39,989,880
Net Change in Unrealized Appreciation (Depreciation)			(31,396,085	)			(677,351	)			(137,525,098	)			128,170,186
Net Increase (Decrease) in Net Assets Resulting from Operations			(29,272,713	)			8,097,480				(109,377,080	)			173,803,654
Distributions			(1,233,925	)			(1,854,987	)			(7,163,403	)			(5,511,704	)
Capital Share Transactions:
Issued			31,092,956				127,915,612				145,015,222				127,314,441
Redeemed			(56,593,086	)			(53,373,821	)			(73,172,445	)			(80,673,768	)
Increase (Decrease) in Net Assets from Capital Share Transactions			(25,500,130	)			74,541,791				71,842,777				46,640,673
Total Increase (Decrease) in Net Assets			(56,006,768	)			80,784,284				(44,697,706	)			214,932,623
Net Assets:
Beginning of Year			146,976,294				66,192,010				593,985,352				379,052,729
End of Year		$	90,969,526			$	146,976,294			$	549,287,646			$	593,985,352
Share Transactions:
Issued			2,050,000				7,360,000				2,730,000				2,520,000
Redeemed			(3,820,000	)			(3,070,000	)			(1,470,000	)			(1,540,000	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions			(1,770,000	)			4,290,000				1,260,000				980,000

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

365

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Statements of Changes in Net Assets

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		Global X S&P Catholic Values Developed ex-U.S. ETF								Global X Guru® Index ETF
		Year Ended October 31, 2022				Year Ended October 31, 2021				Year Ended October 31, 2022				Year Ended October 31, 2021
Operations:
Net Investment Income		$	150,316			$	71,854			$	9,277			$	1,047,788
Net Realized Gain (Loss)			(113,203	)			59,259				(10,085,129	)			16,693,239
Net Change in Unrealized Appreciation (Depreciation)			(1,701,489	)			723,798				(14,494,976	)			3,201,689
Net Increase (Decrease) in Net Assets Resulting from Operations			(1,664,376	)			854,911				(24,570,828	)			20,942,716
Distributions			(203,751	)			(59,322	)			(14,584	)			(1,352,859	)
Return of Capital			—				—				(63,227	)			—
Capital Share Transactions:
Issued			3,196,433				970,818				2,097,530				22,506,630
Redeemed			—				—				(6,769,839	)			(22,201,951	)
Increase (Decrease) in Net Assets from Capital Share Transactions			3,196,433				970,818				(4,672,309	)			304,679
Total Increase (Decrease) in Net Assets			1,328,306				1,766,407				(29,320,948	)			19,894,536
Net Assets:
Beginning of Year			4,264,016				2,497,609				75,856,035				55,961,499
End of Year		$	5,592,322			$	4,264,016			$	46,535,087			$	75,856,035
Share Transactions:
Issued			110,000				30,000				50,000				480,000
Redeemed			—				—				(170,000	)			(470,000	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions			110,000				30,000				(120,000	)			10,000

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

366

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Statements of Changes in Net Assets

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		Global X S&P 500® Tail Risk ETF								Global X S&P 500® Risk Managed Income ETF
		Year Ended October 31, 2022				Period Ended October 31, 2021(1)				Year Ended October 31, 2022				Period Ended October 31, 2021(1)
Operations:
Net Investment Income		$	29,933			$	3,080			$	186,483			$	3,407
Net Realized Gain (Loss)			1,502				(2,887	)			1,155,778				34,336
Net Change in Unrealized Appreciation (Depreciation)			(521,816	)			77,810				(4,212,097	)			50,360
Net Increase (Decrease) in Net Assets Resulting from Operations			(490,381	)			78,003				(2,869,836	)			88,103
Distributions			(96,334	)			—				(472,058	)			(51,640	)
Return of Capital			—				—				(1,738,194	)			—
Capital Share Transactions:
Issued			—				3,526,120				30,428,544				5,865,129
Redeemed			—				—				(6,616,383	)			—
Increase in Net Assets from Capital Share Transactions			—				3,526,120				23,812,161				5,865,129
Total Increase (Decrease) in Net Assets			(586,715	)			3,604,123				18,732,073				5,901,592
Net Assets:
Beginning of Year			3,604,123				—				5,901,592				—
End of Year		$	3,017,408			$	3,604,123			$	24,633,665			$	5,901,592
Share Transactions:
Issued			—				130,000				1,240,000				220,000
Redeemed			—				—				(290,000	)			—
Net Increase in Shares Outstanding from Share Transactions			—				130,000				950,000				220,000

(1)	The Fund commenced operations on August 25, 2021.
(2)	See Note 10 in Notes to Financial Statements

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

367

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Statements of Changes in Net Assets

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		Global X S&P 500® Collar 95-110 ETF								Global X NASDAQ 100® Tail Risk ETF
		Year Ended October 31, 2022				Period Ended October 31, 2021(1)				Year Ended October 31, 2022				Period Ended October 31, 2021(1)
Operations:
Net Investment Income (Loss)		$	33,909			$	2,996			$	5,325			$	(625	)
Net Realized Gain (Loss)			160,285				(115	)			(64,066	)			(1,786	)
Net Change in Unrealized Appreciation (Depreciation)			(558,753	)			48,394				(720,494	)			65,741
Net Increase (Decrease) in Net Assets Resulting from Operations			(364,559	)			51,275				(779,235	)			63,330
Distributions			(70,908	)			—				(66,715	)			—
Capital Share Transactions:
Issued			1,041,732				3,257,141				1,394,296				3,262,936
Redeemed			—				—				(1,966,628	)			—
Increase (Decrease) in Net Assets from Capital Share Transactions			1,041,732				3,257,141				(572,332	)			3,262,936
Total Increase (Decrease) in Net Assets			606,265				3,308,416				(1,418,282	)			3,326,266
Net Assets:
Beginning of Year			3,308,416				—				3,326,266				—
End of Year		$	3,914,681			$	3,308,416			$	1,907,984			$	3,326,266
Share Transactions:
Issued			40,000				120,000				60,000				130,000
Redeemed			—				—				(90,000	)			—
Net Increase (Decrease) in Shares Outstanding from Share Transactions			40,000				120,000				(30,000	)			130,000

(1)	The Fund commenced operations on August 25, 2021.

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

368

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Statements of Changes in Net Assets

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		Global X NASDAQ 100® Risk Managed Income ETF								Global X NASDAQ 100® Collar 95-110 ETF
		Year Ended October 31, 2022				Period Ended October 31, 2021(1)				Year Ended October 31, 2022				Period Ended October 31, 2021(1)
Operations:
Net Investment Income (Loss)		$	20,521			$	(941	)		$	6,905			$	(560	)
Net Realized Gain			961,113				897				509,677				14,840
Net Change in Unrealized Appreciation (Depreciation)			(3,382,166	)			(6,346	)			(1,083,002	)			39,901
Net Increase (Decrease) in Net Assets Resulting from Operations			(2,400,532	)			(6,390	)			(566,420	)			54,181
Distributions			(128,024	)			—				(57,957	)			—
Return of Capital			(869,114	)			(52,273	)			—				—
Capital Share Transactions:
Issued			15,545,690				4,400,103				1,741,889				2,782,080
Redeemed			(5,769,910	)			—				(873,233	)			—
Increase in Net Assets from Capital Share Transactions			9,775,780				4,400,103				868,656				2,782,080
Total Increase in Net Assets			6,378,110				4,341,440				244,279				2,836,261
Net Assets:
Beginning of Year			4,341,440				—				2,836,261				—
End of Year		$	10,719,550			$	4,341,440			$	3,080,540			$	2,836,261
Share Transactions:
Issued			690,000				180,000				70,000				110,000
Redeemed			(280,000	)			—				(40,000	)			—
Net Increase in Shares Outstanding from Share Transactions			410,000				180,000				30,000				110,000

(1)	The Fund commenced operations on August 25, 2021.

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

369

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Financial Highlights

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Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

		Net Asset Value, Beginning of Period ($)				Net Investment Income (Loss) ($)*				Net Realized and Unrealized Gain (Loss) on Investments ($)				Total from Operations ($)				Distribution from Net Investment Income ($)				Distribution from Capital Gains ($)				Return of Capital ($)
Global X Social Media ETF
2022			61.26				0.03				(36.29	)			(36.26	)			—				—				(0.12	)
2021			51.95				(0.31	)			9.62				9.31				—				—				—
2020			31.92				(0.11	)			20.14				20.03				—				—				—
2019			29.10				(0.10	)			2.92				2.82				—				—				—
2018			32.67				(0.06	)			(3.02	)			(3.08	)			(0.49	)			—				—
Global X Lithium & Battery Tech ETF
2022			91.07				0.26				(23.99	)			(23.73	)			(0.21	)			—				—
2021			42.86				0.12				48.21				48.33				(0.12	)			—				—
2020			25.04				0.40				17.86				18.26				(0.44	)			—				—
2019			30.32				0.48				(4.86	)			(4.38	)			(0.90	)			—				—
2018			39.14				0.33				(7.89	)			(7.56	)			(1.26	)			—				—
Global X Disruptive Materials ETF
2022(1)			23.75				0.45				(5.88	)			(5.43	)			(0.25	)			—				—

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
(1)	The Fund commenced operations on January 24, 2022.

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

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

370

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Financial Highlights

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Total from Distributions ($)				Net Asset Value, End of Period ($)				Total Return (%)**				Net Assets End of Period ($)(000)				Ratio of Expenses to Average Net Assets (%)				Ratio of Net Investment Income (Loss) to Average Net Assets (%)				Portfolio Turnover (%)††
	(0.12	)			24.88				(59.24	)			103,245				0.65				0.06				21.59
	—				61.26				17.94				401,893				0.65				(0.48	)			30.89
	—				51.95				62.75				225,999				0.65				(0.28	)			19.23
	—				31.92				9.69				121,289				0.65				(0.33	)			16.92
	(0.49	)			29.10				(9.61	)			129,496				0.65				(0.16	)			21.36
	(0.21	)			67.13				(26.10	)			3,899,509				0.75				0.33				38.73
	(0.12	)			91.07				112.89				5,375,399				0.75				0.17				39.09
	(0.44	)			42.86				73.82				868,894				0.75				1.30				65.14
	(0.90	)			25.04				(14.61	)			455,124				0.75				1.75				35.28
	(1.26	)			30.32				(20.01	)			739,153				0.75				0.96				16.48
	(0.25	)			18.07				(22.98	)			3,433				0.60	†			2.72	†			25.34

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

371

---

Financial Highlights

---

Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

		Net Asset Value, Beginning of Period ($)				Net Investment Income (Loss) ($)*				Net Realized and Unrealized Gain (Loss) on Investments ($)				Total from Operations ($)				Distribution from Net Investment Income ($)				Distribution from Capital Gains ($)				Return of Capital ($)
Global X E-commerce ETF
2022			31.19				0.08				(15.97	)			(15.89	)			(0.05	)			(0.10	)			(0.01	)
2021			26.79				(0.04	)			4.70				4.66				(0.13	)			(0.13	)			—
2020			17.58				0.19				9.05				9.24				(0.03	)			—				—
2019(1)			15.00				(0.05	)			2.63				2.58				—				—				—
Global X Emerging Markets Internet & E-commerce ETF
2022(2)			35.97				0.04				(19.55	)			(19.51	)			—				—				(0.08	)
2021(2)(3)			44.37				(0.21	)			(8.19	)			(8.40	)			—				—				—
Global X SuperDividend® ETF
2022(2)			39.03				2.31				(14.68	)			(12.37	)			(2.65	)			—				(0.96	)
2021(2)			31.83				2.82				7.38				10.20				(3.00	)			—				—
2020(2)			51.75				2.58				(19.02	)			(16.44	)			(3.12	)			—				(0.36	)
2019(2)			57.18				3.72				(4.41	)			(0.69	)			(4.14	)			—				(0.60	)
2018(2)			64.53				4.05				(6.78	)			(2.73	)			(4.29	)			—				(0.33	)

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
(1)	The Fund commenced operations on November 27, 2018.
(2)	Per share amounts have been adjusted for a 1 for 3 reverse share split on December 19, 2022 (See Note 11 in the Notes to Financial Statements).
(3)	The Fund commenced operations on November 9, 2020.

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

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

372

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Financial Highlights

---

Total from Distributions ($)				Net Asset Value, End of Period ($)				Total Return (%)**				Net Assets End of Period ($)(000)				Ratio of Expenses to Average Net Assets (%)				Ratio of Net Investment Income (Loss) to Average Net Assets (%)				Portfolio Turnover (%)††
	(0.16	)			15.14				(51.19	)			42,241				0.50				0.34				25.82
	(0.26	)			31.19				17.39				197,751				0.50				(0.11	)			14.64
	(0.03	)			26.79				52.67				91,083				0.50				0.75				42.01
	—				17.58				17.20				3,517				0.68	†			(0.32	)†			23.50
	(0.08	)			16.38				(54.30	)			1,966				0.65				0.14				26.27
	—				35.97				(18.93	)			4,555				0.65	†			(0.49	)†			23.61
	(3.61	)			23.05				(33.80	)			676,279				0.61				7.39				91.10
	(3.00	)			39.03				32.21				930,431				0.58				6.98				82.37
	(3.48	)			31.83				(32.80	)			626,871				0.59				6.62				124.55
	(4.74	)			51.75				(1.02	)			932,111				0.59				7.03				56.85
	(4.62	)			57.18				(4.65	)			912,968				0.59				6.48				59.48

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

373

---

Financial Highlights

---

Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

		Net Asset Value, Beginning of Period ($)				Net Investment Income ($)*				Net Realized and Unrealized Gain (Loss) on Investments ($)				Total from Operations ($)				Distribution from Net Investment Income ($)				Distribution from Capital Gains ($)				Return of Capital ($)
Global X SuperDividend® U.S. ETF
2022			20.13				0.67				(0.41	)			0.26				(0.81	)			—				(0.40	)
2021			14.99				0.65				5.59				6.24				(0.99	)			—				(0.11	)
2020			23.34				0.62				(7.45	)			(6.83	)			(1.14	)			—				(0.38	)
2019			24.53				1.12				(0.56	)			0.56				(1.49	)			—				(0.26	)
2018			25.18				1.07				(0.17	)			0.90				(1.35	)			—				(0.20	)
Global X MSCI SuperDividend® EAFE ETF
2022			15.62				1.00				(3.70	)			(2.70	)			(0.94	)			—				—
2021			11.44				0.79				4.10				4.89				(0.71	)			—				—
2020			16.11				0.56				(4.53	)			(3.97	)			(0.55	)			—				(0.15	)
2019			15.96				0.82				0.36				1.18				(1.03	)			—				—
2018			18.13				1.12				(2.04	)			(0.92	)			(1.10	)			(0.15	)			—
Global X MSCI SuperDividend® Emerging Markets ETF
2022(1)			33.78				1.67				(11.44	)			(9.77	)			(2.19	)			—				(0.46	)
2021(1)			28.59				3.06				4.35				7.41				(2.22	)			—				—
2020(1)			38.85				1.65				(9.51	)			(7.86	)			(1.98	)			—				(0.42	)
2019(1)			38.73				2.61				0.15				2.76				(2.64	)			—				—
2018(1)			47.82				2.70				(9.06	)			(6.36	)			(2.73	)			—				—

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
(1)	Per share amounts have been adjusted for a 1 for 3 reverse share split on December 19, 2022 (See Note 11 in the Notes to Financial Statements.)

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

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

374

---

Financial Highlights

---

Total from Distributions ($)				Net Asset Value, End of Period ($)				Total Return (%)**				Net Assets End of Period ($)(000)				Ratio of Expenses to Average Net Assets (%)				Ratio of Net Investment Income to Average Net Assets (%)				Portfolio Turnover (%)††
	(1.21	)			19.18				1.16				683,864				0.45				3.34				38.51
	(1.10	)			20.13				42.53				669,734				0.45				3.41				60.53
	(1.52	)			14.99				(30.12	)			412,110				0.45				3.50				93.44
	(1.75	)			23.34				2.61				544,884				0.46				4.83				60.00
	(1.55	)			24.53				3.66				413,311				0.46				4.31				33.25
	(0.94	)			11.98				(18.12	)			8,384				0.57				6.89				34.00
	(0.71	)			15.62				43.05				14,058				0.55				5.12				88.53
	(0.70	)			11.44				(25.24	)			7,436				0.56				4.07				59.28
	(1.03	)			16.11				7.81				18,527				0.56				5.23				29.81
	(1.25	)			15.96				(5.59	)			4,788				0.56				6.36				52.96
	(2.65	)			21.36				(30.80	)			39,168				0.67				5.88				101.78
	(2.22	)			33.78				25.83				62,696				0.72				8.59				102.27
	(2.40	)			28.59				(21.01	)			20,007				0.67				5.04				93.04
	(2.64	)			38.85				7.14				17,489				0.66				6.51				66.65
	(2.73	)			38.73				(14.10	)			12,260				0.67				5.89				79.52

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

375

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Financial Highlights

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Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

		Net Asset Value, Beginning of Period ($)				Net Investment Income ($)*				Net Realized and Unrealized Gain (Loss) on Investments ($)				Total from Operations ($)				Distribution from Net Investment Income ($)				Distribution from Capital Gains ($)				Return of Capital ($)
Global X SuperDividend® REIT ETF
2022(1)			29.46				1.13				(7.14	)			(6.01	)			(1.10	)			—				(0.70	)
2021(1)			22.68				1.14				7.50				8.64				(1.23	)			—				(0.63	)
2020(1)			45.99				1.68				(22.23	)			(20.55	)			(2.58	)			—				(0.18	)
2019(1)			43.86				2.97				2.73				5.70				(3.57	)			—				—
2018(1)			45.87				2.76				(0.84	)			1.92				(3.93	)			—				—
Global X NASDAQ 100® Covered Call ETF(2)
2022			22.82				0.05				(4.13	)			(4.08	)			(0.24	)			(0.50	)			(1.85	)
2021			20.65				0.02				4.73				4.75				(2.58	)			—				—
2020			23.10				0.06				(0.06	)			—				(0.06	)			—				(2.39	)
2019			23.45				0.06				1.95				2.01				(1.83	)			—				(0.53	)
2018			24.30				0.07				1.71				1.78				(0.87	)			(0.11	)			(1.65	)
Global X S&P 500® Covered Call ETF(2)
2022			50.37				0.45				(5.50	)			(5.05	)			(1.05	)			(0.11	)			(4.16	)
2021			42.45				0.39				12.14				12.53				(4.61	)			—				—
2020			49.39				0.56				(4.17	)			(3.61	)			(0.58	)			—				(2.75	)
2019			48.56				0.56				3.30				3.86				(2.27	)			(0.39	)			(0.37	)
2018			50.10				0.62				1.88				2.50				(0.22	)			(1.22	)			(2.60	)

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
(1)	Per share amounts have been adjusted for a 1 for 3 reverse share split on December 19, 2022 (See Note 11 in the Notes to Financial Statements.)
(2)	The financial statements include the financial information of the Predecessor Funds through December 21, 2018 (See Note 1 in Notes to Financial Statements). As a result of the Reorganization, the Fund assumed the performance and accounting history of the Predecessor Fund. Accordingly, performance figures for the Fund for periods prior to the date of the Reorganization represent the performance of the Predecessor Fund.
(3)	Excluding broker fees on written options, the ratio of expenses to average net assets would have been 0.60% and 0.60% for the year ended October 31, 2020 and October 31, 2019, respectively. The ratio of Expenses to Average Net Assets includes the effect of a waiver. If these offsets were excluded, the ratio would have been 0.60% and 0.60% for the year ended October 31, 2020 and year ended October 31, 2019.
(4)	Includes excise tax. If this excise expense was not included, the ratio would have been 0.60%.
(5)	Excluding broker fees on written options, the ratio of expenses to average net assets would have been 0.64% and 0.65% for the year ended October 31, 2020 and year ended October 31, 2019, respectively The ratio of Expenses to Average Net Assets includes the effect of a waiver. If these offsets were excluded, the ratio would have been 0.64% and 0.65% for the year ended October 31, 2020 and year ended October 31, 2019.

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

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

376

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Financial Highlights

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Total from Distributions ($)				Net Asset Value, End of Period ($)				Total Return (%)**				Net Assets End of Period ($)(000)				Ratio of Expenses to Average Net Assets (%)				Ratio of Net Investment Income to Average Net Assets (%)				Portfolio Turnover (%)††
	(1.80	)			21.65				(21.21	)			286,655				0.59				4.36				82.67
	(1.86	)			29.46				38.84				467,934				0.58				3.99				59.44
	(2.76	)			22.68				(45.94	)			311,625				0.58				5.74				106.23
	(3.57	)			45.99				13.68				364,790				0.59				6.71				34.16
	(3.93	)			43.86				4.30				118,408				0.59				6.15				41.61
	(2.59	)			16.15				(19.18	)			6,397,648				0.60				0.25				31.11
	(2.58	)			22.82				23.89				5,036,215				0.60				0.11				19.99
	(2.45	)			20.65				0.21				1,325,642				0.67	(3)			0.27				27.87
	(2.36	)			23.10				9.39				768,036				0.85	(3)			0.26				11.82
	(2.63	)			23.45				7.44				395,202				0.68	(4)			0.30				15.00
	(5.32	)			40.00				(10.72	)			1,934,545				0.60				1.00				15.60
	(4.61	)			50.37				30.67				669,855				0.60				0.80				4.84
	(3.33	)			42.45				(7.42	)			103,992				0.71	(5)			1.22				7.29
	(3.03	)			49.39				8.40				133,353				0.87	(5)			1.16				3.92
	(4.04	)			48.56				4.97				77,701				0.65				1.22				4.00

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

377

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Financial Highlights

---

Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

		Net Asset Value, Beginning of Period ($)				Net Investment Income ($)*				Net Realized and Unrealized Gain (Loss) on Investments ($)				Total from Operations ($)				Distribution from Net Investment Income ($)				Distribution from Capital Gains ($)				Return of Capital ($)
Global X Russell 2000 Covered Call ETF
2022			25.18				0.19				(3.10	)			(2.91	)			(0.44	)			(0.31	)			(1.97	)
2021			20.45				0.13				7.50				7.63				(2.90	)			—				—
2020			25.24				0.12				(2.51	)			(2.39	)			(0.11	)			(0.17	)			(2.12	)
2019(3)			25.00				0.09				1.37				1.46				(1.22	)			—				—
Global X Dow 30® Covered Call ETF
2022(4)			24.13				0.22				(0.86	)			(0.64	)			(0.64	)			—				(0.96	)
Global X Nasdaq 100® Covered Call & Growth ETF
2022			33.09				0.06				(7.29	)			(7.23	)			(0.20	)			(1.60	)			(1.26	)
2021			26.27				0.02				8.56				8.58				(1.76	)			—				—
2020(6)			26.30				—				0.11				0.11				—				—				(0.14	)

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
(1)	The ratio of Expenses to Average Net Assets includes the effect of a waiver due to acquired fund fees and expenses. The ratio to Average Net Assets does not include acquired fund fees and expenses of the underlying investments, if applicable. If these offsets were excluded, the ratio would have been 0.60%, 0.60%, 0.68% and 0.97% for the year ended October 31, 2022 to the year ended October 31, 2019, respectively.
(2)	Includes fees charged by the Fund custodian that were reimbursed by the custodian to the Fund subsequent to the reporting period. Excluding these fees, the ratio to average net assets would have been 0.54%.
(3)	The Fund commenced operations on April 17, 2019.
(4)	The Fund commenced operations on February 23, 2022.
(5)	Includes fees charged by the Fund custodian that were reimbursed by the custodian to the Fund subsequent to the reporting period. Excluding these fees, the ratio to average net assets would have been 0.60%.
(6)	The Fund commenced operations on September 18, 2020.

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

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

378

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Financial Highlights

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Total from Distributions ($)				Net Asset Value, End of Period ($)				Total Return (%)**				Net Assets End of Period ($)(000)				Ratio of Expenses to Average Net Assets (%)				Ratio of Net Investment Income (Loss) to Average Net Assets (%)				Portfolio Turnover (%)††
	(2.72	)			19.55				(12.18	)			1,342,241				0.55	(1)(2)			0.86				186.48
	(2.90	)			25.18				38.82				554,446				0.50	(1)			0.53				8.94
	(2.40	)			20.45				(9.18	)			21,475				0.56	(1)			0.68				11.16
	(1.22	)			25.24				5.99				8,833				0.82	†(1)			0.68	†			5.82
	(1.60	)			21.89				(2.77	)			52,985				0.61	†(5)			1.42	†			8.82
	(3.06	)			22.80				(23.57	)			61,105				0.61	(5)			0.23				18.12
	(1.76	)			33.09				33.42				44,671				0.60				0.06				11.21
	(0.14	)			26.27				0.40				6,568				0.60	†			(0.10	)†			1.65

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

379

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Financial Highlights

---

Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

		Net Asset Value, Beginning of Period ($)				Net Investment Income (Loss) ($)*				Net Realized and Unrealized Gain (Loss) on Investments ($)				Total from Operations ($)				Distribution from Net Investment Income ($)				Distribution from Capital Gains ($)				Return of Capital ($)
Global X S&P 500® Covered Call & Growth ETF
2022			31.83				0.27				(4.03	)			(3.76	)			(0.42	)			(1.10	)			(1.08	)
2021			24.69				0.22				8.29				8.51				(1.37	)			—				—
2020(2)			25.22				0.02				(0.41	)			(0.39	)			(0.02	)			—				(0.12	)
Global X Russell 2000 Covered Call & Growth ETF
2022(3)			25.90				(0.01	)			0.82				0.81				(0.13	)			—				—
Global X SuperIncome™ Preferred ETF
2022			11.94				0.54				(2.13	)			(1.59	)			(0.65	)			—				(0.03	)
2021			11.12				0.61				0.89				1.50				(0.68	)			—				—
2020			11.73				0.60				(0.53	)			0.07				(0.65	)			—				(0.03	)
2019			11.49				0.66				0.32				0.98				(0.73	)			—				(0.01	)
2018			12.44				0.78				(0.88	)			(0.10	)			(0.85	)			—				—

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.

@

The ratio of Expenses to Average Net Assets includes the effect of a waiver due to acquired fund fees and expenses. The ratio to Average Net Assets does not include acquired fund fees and expenses of the underlying investments, if applicable. If these offsets were excluded, the ratio would have been 0.60% for the year ended October 31, 2022.

(1)		Includes fees charged by the Fund custodian that were reimbursed by the custodian to the Fund subsequent to the reporting period. Excluding these fees, the ratio to average net assets would have been 0.60%.
(2)		The Fund commenced operations on September 18, 2020.
(3)		The Fund commenced operations on October 4, 2022.

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

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

380

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Financial Highlights

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Total from Distributions ($)				Net Asset Value, End of Period ($)				Total Return (%)**				Net Assets End of Period ($)(000)				Ratio of Expenses to Average Net Assets (%)				Ratio of Net Investment Income (Loss) to Average Net Assets (%)				Portfolio Turnover (%)††
	(2.60	)			25.47				(12.63	)			41,511				0.61	(1)			0.94				9.36
	(1.37	)			31.83				35.18				35,018				0.60				0.74				12.17
	(0.14	)			24.69				(1.60	)			3,704				0.60	†			0.75	†			0.75
	(0.13	)			26.58				3.14				2,658				0.50	†@			(0.50	)†			—
	(0.68	)			9.67				(13.81	)			195,159				0.58				5.04				39.39
	(0.68	)			11.94				13.71				234,953				0.58				5.13				98.47
	(0.68	)			11.12				0.81				184,015				0.58				5.47				67.65
	(0.74	)			11.73				8.87				201,092				0.58				5.72				55.98
	(0.85	)			11.49				(0.87	)			186,154				0.58				6.48				105.48

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

381

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Financial Highlights

---

Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

		Net Asset Value, Beginning of Period ($)				Net Investment Income ($)*				Net Realized and Unrealized Gain (Loss) on Investments ($)				Total from Operations ($)				Distribution from Net Investment Income ($)				Distribution from Capital Gains ($)				Return of Capital ($)
Global X Renewable Energy Producers ETF
2022			16.82				0.15				(3.76	)			(3.61	)			(0.16	)			—				—
2021			14.87				0.23				2.05				2.28				(0.30	)			(0.03	)			—
2020			13.79				0.41				1.13				1.54				(0.46	)			—				—
2019			11.52				0.13				2.61				2.74				(0.47	)			—				—
2018			12.53				0.37				(0.80	)			(0.43	)			(0.50	)			—				(0.08	)
Global X S&P 500® Catholic Values ETF
2022			57.22				0.61				(9.99	)			(9.38	)			(0.57	)			(0.08	)			—
2021			40.32				0.56				16.89				17.45				(0.55	)			—				—
2020			37.23				0.58				3.08				3.66				(0.55	)			(0.02	)			—
2019			33.59				0.58				3.92				4.50				(0.81	)			(0.05	)			—
2018			31.83				0.58				1.60				2.18				(0.41	)			(0.01	)			—
Global X S&P Catholic Values Developed ex-U.S. ETF
2022			32.80				0.77				(9.11	)			(8.34	)			(0.79	)			(0.37	)			—
2021			24.98				0.70				7.71				8.41				(0.59	)			—				—
2020(1)			25.05				0.19				(0.26	)			(0.07	)			—				—				—

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
@	The ratio of Expenses to Average Net Assets includes the effect of a waiver. If these offsets were excluded, the ratio would have been 0.32% for the years ended October 31, 2018.
(1)	The Fund commenced operations on June 22, 2020.

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

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

382

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Financial Highlights

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Total from Distributions ($)				Net Asset Value, End of Period ($)				Total Return (%)**				Net Assets End of Period ($)(000)				Ratio of Expenses to Average Net Assets (%)				Ratio of Net Investment Income to Average Net Assets (%)				Portfolio Turnover (%)††
	(0.16	)			13.05				(21.57	)			90,970				0.66				1.01				18.33
	(0.33	)			16.82				15.37				146,976				0.65				1.39				55.97
	(0.46	)			14.87				11.39				66,192				0.65				2.89				29.27
	(0.47	)			13.79				24.34				26,205				0.65				1.01				87.06
	(0.58	)			11.52				(3.50	)			15,556				0.65				3.07				33.50
	(0.65	)			47.19				(16.53	)			549,288				0.29				1.17				6.79
	(0.55	)			57.22				43.54				593,985				0.29				1.09				8.29
	(0.57	)			40.32				9.89				379,053				0.29				1.51				5.55
	(0.86	)			37.23				13.86				275,511				0.29				1.66				8.54
	(0.42	)			33.59				6.86				147,789			0.29		@			1.72				4.33
	(1.16	)			23.30				(26.11	)			5,592				0.35				2.83				12.83
	(0.59	)			32.80				33.79				4,264				0.35				2.22				17.17
	—				24.98				(0.28	)			2,498				0.35	†			2.02	†			4.04

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

383

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Financial Highlights

---

Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

		Net Asset Value, Beginning of Period ($)				Net Investment Income ($)*				Net Realized and Unrealized Gain (Loss) on Investments ($)				Total from Operations ($)				Distribution from Net Investment Income ($)				Distribution from Capital Gains ($)				Return of Capital ($)
Global X Guru® Index ETF
2022			50.24				0.01				(16.72	)			(16.71	)			(0.01	)			—				(0.04	)
2021			37.31				0.69				13.14				13.83				(0.90	)			—				—
2020			34.02				0.33				3.32				3.65				(0.34	)			—				(0.02	)
2019			30.09				0.12				4.02				4.14				(0.17	)			—				(0.04	)
2018			28.70				0.11				1.44				1.55				(0.16	)			—				—
Global X S&P 500® Tail Risk ETF
2022			27.72				0.23				(4.00	)			(3.77	)			(0.16	)			(0.58	)			—
2021(1)			27.33				0.03				0.36				0.39				—				—				—
Global X S&P 500® Risk Managed Income ETF
2022			26.83				0.23				(3.38	)			(3.15	)			(0.52	)			(0.07	)			(2.04	)
2021(1)			26.77				0.03				0.39				0.42				(0.36	)			—				—

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
(1)	The Fund commenced operations on August 25, 2021.
(2)	Includes fees charged by the Fund custodian that were reimbursed by the custodian to the Fund subsequent to the reporting period. Excluding these fees, the ratio to average net assets would have been 0.61%.

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

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

384

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Financial Highlights

---

Total from Distributions ($)				Net Asset Value, End of Period ($)				Total Return (%)**				Net Assets End of Period ($)(000)				Ratio of Expenses to Average Net Assets (%)				Ratio of Net Investment Income to Average Net Assets (%)				Portfolio Turnover (%)††
	(0.05	)			33.48				(33.28	)			46,535				0.75				0.02				111.39
	(0.90	)			50.24				37.43				75,856				0.75				1.47				121.91
	(0.36	)			37.31				10.84				55,961				0.75				0.96				124.90
	(0.21	)			34.02				13.90				56,134				0.75				0.38				126.44
	(0.16	)			30.09				5.40				57,180				0.75				0.36				112.64
	(0.74	)			23.21				(13.98	)			3,017				0.61				0.92				7.40
	—				27.72				1.43				3,604				0.60	†			0.58	†			6.21
	(2.63	)			21.05				(12.39	)			24,634				0.63	(2)			0.97				21.62
	(0.36	)			26.83				1.60				5,902				0.60	†			0.57	†			7.08

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

385

---

Financial Highlights

---

Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

		Net Asset Value, Beginning of Period ($)				Net Investment Income (Loss) ($)*				Net Realized and Unrealized Gain (Loss) on Investments ($)				Total from Operations ($)				Distribution from Net Investment Income ($)				Distribution from Capital Gains ($)				Return of Capital ($)
Global X S&P 500® Collar 95-110 ETF
2022			27.57				0.23				(2.77	)			(2.54	)			(0.16	)			(0.40	)			—
2021(2)			27.28				0.03				0.26				0.29				—				—				—
Global X NASDAQ 100® Tail Risk ETF
2022			25.59				0.04				(6.03	)			(5.99	)			(0.03	)			(0.49	)			—
2021(2)			25.13				(0.01	)			0.47				0.46				—				—				—

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
(1)	Includes fees charged by the Fund custodian that were reimbursed by the custodian to the Fund subsequent to the reporting period. Excluding these fees, the ratio to average net assets would have been 0.61%.
(2)	The Fund commenced operations on August 25, 2021.

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

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

386

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Financial Highlights

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Total from Distributions ($)				Net Asset Value, End of Period ($)				Total Return (%)**				Net Assets End of Period ($)(000)				Ratio of Expenses to Average Net Assets (%)				Ratio of Net Investment Income (Loss) to Average Net Assets (%)				Portfolio Turnover (%)††
	(0.56	)			24.47				(9.40	)			3,915				0.64	(1)			0.90				8.96
	—				27.57				1.06				3,308				0.60	†			0.58	†			6.44
	(0.52	)			19.08				(23.90	)			1,908				0.61				0.19				13.88
	—				25.59				1.83				3,326				0.60	†			(0.12	)†			1.71

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

387

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Financial Highlights

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Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

		Net Asset Value, Beginning of Period ($)				Net Investment Income (Loss) ($)*				Net Realized and Unrealized Gain (Loss) on Investments ($)				Total from Operations ($)				Distribution from Net Investment Income ($)				Distribution from Capital Gains ($)				Return of Capital ($)
Global X NASDAQ 100® Risk Managed Income ETF
2022			24.12				0.04				(4.04	)			(4.00	)			(0.25	)			—				(1.70	)
2021(2)			24.60				(0.01	)			(0.16	)			(0.17	)			—				—				(0.31	)
Global X NASDAQ 100® Collar 95-110 ETF
2022			25.78				0.04				(3.38	)			(3.34	)			(0.02	)			(0.42	)			—
2021(2)			25.27				(0.01	)			0.52				0.51				—				—				—

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
(1)	Includes fees charged by the Fund custodian that were reimbursed by the custodian to the Fund subsequent to the reporting period. Excluding these fees, the ratio to average net assets would have been 0.61%.
(2)	The Fund commenced operations on August 25, 2021.

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

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

388

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Financial Highlights

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Total from Distributions ($)				Net Asset Value, End of Period ($)				Total Return (%)**				Net Assets End of Period ($)(000)				Ratio of Expenses to Average Net Assets (%)				Ratio of Net Investment Income (Loss) to Average Net Assets (%)				Portfolio Turnover (%)††
	(1.95	)			18.17				(17.24	)			10,720				0.62	(1)			0.19				27.40
	(0.31	)			24.12				(0.69	)			4,341				0.60	†			(0.15	)†			2.16
	(0.44	)			22.00				(13.19	)			3,081				0.62	(1)			0.18				9.89
	—				25.78				2.06				2,836				0.60	†			(0.11	)†			2.11

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

Notes to Financial Statements

October 31, 2022

 

1. ORGANIZATION

Global X Funds (the "Trust") is a Delaware statutory trust formed on March 6, 2008. The Trust is registered under the Investment Company Act of 1940, as amended, as an open end management investment company. As of October 31, 2022, the Trust had one hundred and seven portfolios, ninety-seven of which were operational. The financial statements herein and the related notes pertain to the Global X Social Media ETF, Global X Lithium & Battery Tech ETF, Global X Disruptive Materials ETF, Global X E-commerce ETF, Global X Emerging Markets Internet & E-commerce ETF, Global X SuperDividend^® ETF, Global X SuperDividend^® U.S. ETF, Global X MSCI SuperDividend^® EAFE ETF, Global X MSCI SuperDividend^® Emerging Markets ETF, Global X SuperDividend^® REIT ETF, Global X NASDAQ 100^® Covered Call ETF, Global X S&P 500^® Covered Call ETF, Global X Russell 2000 Covered Call ETF, Global X Dow 30^® Covered Call ETF, Global X Nasdaq 100^® Covered Call & Growth ETF, Global X S&P 500^® Covered Call & Growth ETF, Global X Russell 2000 Covered Call & Growth ETF, Global X SuperIncome^™ Preferred ETF, Global X Renewable Energy Producers ETF, Global X S&P 500^® Catholic Values ETF, Global X S&P Catholic Values Developed ex-U.S. ETF, Global X Guru^® Index ETF, Global X S&P 500^® Tail Risk ETF, Global X S&P 500^® Risk Managed Income ETF, Global X S&P 500^® Collar 95-110 ETF, Global X NASDAQ 100^® Tail Risk ETF, Global X NASDAQ 100^® Risk Managed Income ETF and Global X NASDAQ 100^® Collar 95-110 ETF (each a “Fund”, collectively, the “Funds”).

Each Fund (except the Global X SuperDividend^® ETF, Global X SuperDividend^® U.S. ETF, Global X MSCI SuperDividend^® Emerging Markets ETF, Global X MSCI SuperDividend^® EAFE ETF, Global X SuperDividend^® REIT ETF, Global X SuperIncome^TM Preferred ETF, Global X Guru^® Index ETF, Global X S&P 500^® Catholic Values ETF, Global X Russell 2000 Covered Call ETF, Global X Dow 30^® Covered Call ETF, Global X S&P 500^® Covered Call ETF, Global X S&P 500^® Covered Call & Growth ETF, Global X S&P 500^® Tail Risk ETF, Global X S&P 500^® Risk Managed Income ETF, and Global X S&P 500^® Collar 95-110 ETF) has elected non-diversified status.

Global X Disruptive Materials ETF commenced operations on January 24, 2022.

Global X Dow 30^® Covered Call ETF commenced operations on February 23, 2022.

Global X Russell 2000 Covered Call & Growth ETF commenced operations on October 4, 2022.

On December 24, 2018, the shareholders of the Horizons NASDAQ 100^® Covered Call ETF and Horizons S&P 500^® Covered Call ETF (each, a “Predecessor Fund” and together, the "Predecessor Funds") approved a proposed agreement and plan of reorganization (the "Reorganization") that provided for (a) the transfer of all the assets and assumption of certain of the liabilities of each Predecessor Fund to the Global X Nasdaq 100^® Covered Call ETF and the Global X S&P 500^® Covered Call ETF (together, the “Successor Funds”), respectively; (b) the issuance of shares of the Successor Fund to the shareholders of the

390

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Notes to Financial Statements (Continued)

October 31, 2022

 

1. ORGANIZATION (continued)

corresponding Predecessor Fund; and (c) the liquidation and termination of the Predecessor Funds. The effective date of the Reorganization of each Predecessor Fund was December 24, 2018. The Successor Funds had no operations prior to the Reorganization. The Predecessor Funds had substantially similar investment objectives, investment strategies, policies and restrictions as those of the Successor Funds. The financial statements and financial highlights include the financial information of the Predecessor Funds through December 21, 2018.

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of the significant accounting policies followed by the Funds:

USE OF ESTIMATES – The Funds are investment companies that apply the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board. The preparation of financial statements in conformity with U.S. generally accepted accounting principles ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could materially differ from those estimates.

RETURN OF CAPITAL ESTIMATES – Distributions received by the Funds from underlying master limited partnership (“MLP”) and real estate investment trust (“REIT”) investments generally are comprised of income and return of capital. The Funds record investment income and return of capital based on estimates made at the time such distributions are received. Such estimates are based on historical information available from the MLPs, REITs and other industry sources. These estimates may subsequently be revised based on information received from the MLPs and REITs after their tax reporting periods are concluded.

MLPs – Certain Funds may invest in MLPs. MLPs are publicly traded partnerships engaged in the transportation, storage and processing of minerals and natural resources. By confining their operations to these specific activities, their interests, or units, are able to trade on public securities exchanges exactly like the shares of a corporation, without entity level taxation. To qualify as an MLP and to not be taxed as a corporation, a partnership must receive at least 90% of its income from qualifying sources as set forth in Section 7704(d) of the Internal Revenue Code of 1986, as amended (the “Code”). These qualifying sources include natural resource-based activities such as the processing, transportation and storage of mineral or natural resources. MLPs generally have two classes of owners: the general partner and limited partners. The general partner of an MLP is typically owned by a major energy company, an investment fund, the direct management of the MLP, or is an entity owned by one or more of such parties. The general partner may be structured as a private or publicly traded corporation or other entity.

391

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Notes to Financial Statements (Continued)

October 31, 2022

 

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

The general partner typically controls the operations and management of the MLP through an up to 2% equity interest in the MLP plus, in many cases, ownership of common units and subordinated units.

Limited partners typically own the remainder of the partnership through ownership of common units, and have a limited role in the partnership’s operations and management. MLPs are typically structured such that common units and general partner interests have first priority to receive quarterly cash distributions up to an established minimum amount (“minimum quarterly distributions” or “MQD”). Common and general partner interests also accrue arrearages in distributions to the extent the MQD is not paid. Once common and general partner interests have been paid, subordinated units receive distributions of up to the MQD; however, subordinated units do not accrue arrearages. Distributable cash in excess of the MQD is paid to both common and subordinated units and is distributed to both common and subordinated units generally on a pro rata basis. The general partner is also eligible to receive incentive distributions if the general partner operates the business in a manner which results in distributions paid per common unit surpassing specified target levels. As the general partner increases cash distributions to the limited partners, the general partner receives an increasingly higher percentage of the incremental cash distributions.

SECURITY VALUATION - Securities listed on a securities exchange, market or automated quotation system for which quotations are readily available (except for securities traded on the NASDAQ Stock Market ("NASDAQ")), including securities traded over the counter, are valued at the last quoted sale price on the primary exchange or market (foreign or domestic) on which they are traded (or at approximately 4:00 pm Eastern Standard Time if a security’s primary exchange is normally open at that time), or, if there is no such reported sale, at the most recent mean between the quoted bid and asked prices, which approximates fair value (absent both bid and asked prices on such exchange, the bid price may be used).

For securities traded on NASDAQ, the NASDAQ official closing price will be used.

If available, debt securities are priced based upon valuations provided by independent, third-party pricing agents. Such values generally reflect the last reported sales price if the security is actively traded. The third-party pricing agents may also value debt securities at an evaluated bid price by employing methodologies that utilize actual market transactions, broker-supplied valuations, or other methodologies designed to identify the market value for such securities. Debt obligations with remaining maturities of sixty days or less may be valued at their amortized cost, which approximates market value. The prices for foreign securities are reported in local currency and converted to U.S. dollars using currency exchange rates as of the reporting date. The exchange rates used by the Trust for valuation are captured as of the New York or London close each day. Prices for most securities held in the Funds are provided daily by recognized independent pricing agents. If a security price cannot be obtained from an independent, third-party pricing agent, the Funds seek to obtain a bid price from at least one independent broker.

392

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Notes to Financial Statements (Continued)

October 31, 2022

 

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

Options traded on an exchange will be valued at the mean of the bid and ask quotations for the current day at the close of the market. If either the bid or the ask is not available, the last closing price will be used.

Securities for which market prices are not "readily available" are valued in accordance with fair value procedures (the “Fair Value Procedures”) established by Global X Management Company LLC, the Funds' investment adviser (the "Adviser"), and approved by the Funds' Board of Trustees (the “Board”). Pursuant to Rule 2a-5 under the 1940 Act, the Board has designated the Adviser as the "valuation designee" to determine the fair value of securities and other instruments for which no readily available market quotations are available. The Fair Value Procedures are implemented through a fair value committee (the “Committee”) of the Adviser. Some of the more common reasons that may necessitate that a security be valued using the Fair Value Procedures include: the security's trading has been halted or suspended; the security has been de-listed from its primary trading exchange; the security's primary trading market is temporarily closed at a time when, under normal conditions, it would be open; the security has not been traded for an extended period of time; the security's primary pricing source is not able or willing to provide a price; or trading of the security is subject to local government-imposed restrictions. In addition, the Funds may fair value a security if an event that may materially affect the value of the Funds’ security that is traded outside the United States (a “Significant Event”) has occurred between the time of the security's last close and the time that each Fund calculates its net asset value ("NAV"). A Significant Event may relate to a single issuer or to an entire market sector. Events that may be Significant Events include: government actions, natural disasters, armed conflict, acts of terrorism and significant market fluctuations. If the Adviser becomes aware of a Significant Event that has occurred with respect to a security or group of securities after the closing of the exchange or market on which the security or securities principally trade, but before the time at which the Funds calculate their NAVs, it may request that a Committee meeting be called. When a security is valued in accordance with the Fair Value Procedures, the Committee will determine the value after taking into consideration all relevant information reasonably available to the Committee.

In accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP, the Funds disclose the fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The objective of a fair value measurement is to determine the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Accordingly, the fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities

393

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Notes to Financial Statements (Continued)

October 31, 2022

 

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

(Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

Level 1 – Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Funds have the ability to access at the measurement date

Level 2 – Other significant observable inputs (including quoted prices in non-active markets, quoted prices for similar investments, fair value of investments for which the Funds have the ability to fully redeem tranches at NAV as of the measurement date or within the near term, and short-term investments valued at amortized cost)

Level 3 – Significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments, and fair value of investments for which the Funds do not have the ability to fully redeem tranches at NAV as of the measurement date or within the near term)

Investments are classified within the level of the lowest significant input considered in determining fair value. Investments classified within Level 3 whose fair value measurement considers several inputs may include Level 1 or Level 2 inputs as components of the overall fair value measurement.

For the year ended October 31, 2022, there have been no significant changes to the Funds’ fair valuation methodologies.

The unobservable inputs used to determine fair value of Level 3 assets may have similar or diverging impacts on valuation. Significant increases and decreases in these inputs in isolation and interrelationships between those inputs could result in significantly higher or lower fair value measurement.

DUE TO/FROM BROKERS – Due to/from brokers includes cash and collateral balances with the Funds’ clearing brokers or counterparties as of October 31, 2022. The Funds continuously monitor the credit standing of each broker or counterparty with whom they conduct business. In the event a broker or counterparty is unable to fulfill its obligations, the Funds would be subject to counterparty credit risk.

REPURCHASE AGREEMENTS - Securities pledged as collateral for repurchase agreements by BNP Paribas are held by Brown Brothers Harriman & Co. (“BBH”) or the

Bank of New York Mellon ("BNY Mellon"), as appropriate, in their roles as Custodian to respective Funds (each, a "Custodian" and together, the "Custodians"), and are designated as being held on each Fund’s behalf by the Custodian under a book-entry system. Each Fund monitors the adequacy of the collateral on a daily basis and can require the seller to

394

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Notes to Financial Statements (Continued)

October 31, 2022

 

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

provide additional collateral in the event the market value of the securities pledged falls below the carrying value of the repurchase agreement, including accrued interest.

It is the Funds’ policy to only enter into repurchase agreements with banks and other financial institutions which are deemed by the Adviser to be creditworthy. The Funds bear the risk of loss in the event that the counterparty to a repurchase agreement defaults on its obligations, and the Funds are prevented from exercising their rights to dispose of the underlying securities received as collateral and the risk of a possible decline in the value of the underlying securities during the period. For financial statement purposes, the Funds record the securities lending collateral (included in repurchase agreements, at value or restricted cash) as an asset and the obligation to return securities lending collateral as a liability on the Statements of Assets and Liabilities.

Repurchase agreements are entered into by the Funds under Master Repurchase Agreements

(“MRA”) which permit the Funds, under certain circumstances, including an event of default (such as bankruptcy or insolvency), to offset payables and/or receivables under an MRA with collateral held and/or posted to the counterparty and create one single net payment due to or from the Funds.

As of October 31, 2022, the open repurchase agreements by counterparty which are subject to an MRA on a net payment basis are as follows:

						Fair Value
						of Non-cash			Cash
		Repurchase				Collateral			Collateral
		Agreements*				Received(1)			Received			Net Amount(2)
Global X Social Media ETF
BNP Paribas		$	512,797			$	512,797		$	-		$	-
Global X Lithium & Battery Tech ETF
BNP Paribas		$	72,829,304			$	72,829,304		$	-		$	-
Global X E-commerce ETF
BNP Paribas		$	422,380			$	422,380		$	-		$	-
Global X SuperDividend® ETF
BNP Paribas		$	16,356,292			$	16,356,292		$	-		$	-
Global X SuperDividend® U.S. ETF
BNP Paribas		$	11,310,630			$	11,310,630		$	-		$	-
Global X SuperDividend® REIT ETF
BNP Paribas		$	12,266,545			$	12,266,545		$	-		$	-
Global X SuperIncome™ Preferred ETF
BNP Paribas		$	1,509,559			$	1,509,559		$	-		$	-
Global X Renewable Energy Producers ETF
BNP Paribas		$	379,249			$	379,249		$	-		$	-
Global X Guru® Index ETF
BNP Paribas		$	457,815			$	457,815		$	-		$	-
* Repurchase agreements with an overnight and continuous maturity.
(1) Excess collateral received is not presented in the table above. Please refer to the Schedules of Investments for the market value of
the collateral received for each Fund.
(2) Net Amount represents the net amount receivable due from the counterparty in the event of default.

395

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Notes to Financial Statements (Continued)

October 31, 2022

 

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

FEDERAL INCOME TAXES – It is each Fund’s intention to qualify, or continue to qualify, as a regulated investment company for Federal income tax purposes by complying with the appropriate provisions of Subchapter M of the Code. Accordingly, no provisions for Federal income taxes have been made in the financial statements except as described below.

The Funds evaluate tax positions taken or expected to be taken in the course of preparing the Funds’ tax returns to determine whether it is "more-likely-than-not" (i.e., greater than 50 percent) that each tax position will be sustained upon examination by a taxing authority based on the technical merits of the position. Tax positions not deemed to meet the more-likely-than-not threshold are recorded as a tax benefit or expense in the current year. The

Funds did not record any tax positions in the current period; however, management’s conclusions regarding tax positions may be subject to review and adjustment at a later date based on factors including, but not limited to, examination by tax authorities (i.e., the last three tax year ends, as applicable), and on-going analysis of and changes to tax laws and regulations, and interpretations thereof.

If a Fund has foreign tax filings that have not been made, the tax years that remain subject to examination may date back to the inception of the Fund.

As of and during the reporting period ended October 31, 2022, the Funds did not have a liability for any unrecognized tax benefits. The Funds recognize interest and penalties, if any, related to unrecognized tax benefits as income tax expense on the Statements of

Operations. During the reporting period, the Funds did not incur any interest or penalties.

SECURITY TRANSACTIONS AND INVESTMENT INCOME – Security transactions are accounted for on the trade date for financial reporting purposes. Costs used in determining realized gains and losses on the sale of investment securities are based on specific identification. Dividend income is recorded on the ex-dividend date. Interest income is recognized on the accrual basis from the settlement date. Amortization of premiums and accretion of discounts is included in interest income.

FOREIGN CURRENCY TRANSACTIONS AND TRANSLATION – The books and records of the Funds are maintained in U.S. dollars. Investment securities and other assets and liabilities denominated in a foreign currency are translated into U.S. dollars on the date of valuation. Purchases and sales of investment securities, income and expenses are translated into U.S. dollars at the relevant rates of exchange prevailing on the respective dates of such transactions. The Funds do not isolate that portion of realized or unrealized gains and losses resulting from changes in the foreign exchange rate from fluctuations arising from changes in the market prices of the securities. These gains and losses are included in net realized and unrealized gains and losses on investments on the Statements of Operations. Net realized and unrealized gains and losses on foreign currency transactions and translations represent net foreign exchange gains or losses from foreign currency spot

 

396

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Notes to Financial Statements (Continued)

October 31, 2022

 

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

contracts, disposition of foreign currencies, currency gains or losses realized between trade and settlement dates on securities transactions and the difference between the amount of the investment income and foreign withholding taxes recorded on the Funds’ books and the U.S. dollar equivalent amounts actually received or paid.

DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS – The Funds distribute their net investment income on a pro rata basis. Any net investment income and net realized capital gains are distributed at least annually. All distributions are recorded on ex-dividend date.

INVESTMENTS IN REITs – With respect to the Funds, dividend income is recorded based on the income included in distributions received from REIT investments using published

REIT reclassifications, including some management estimates when actual amounts are not available. Distributions received in excess of these estimated amounts are recorded as a reduction of the cost of investments or reclassified to capital gains. The actual amounts of income, return of capital, and capital gains are only determined by each REIT after its fiscal year end, and may differ from the estimated amounts.

CREATION UNITS – The Funds issue and redeem their shares (“Shares”) on a continuous basis at net asset value (“NAV”) and only in large blocks of 10,000 Shares, referred to as “Creation Units”. Purchasers of Creation Units (“Authorized Participants”) at NAV must pay a standard creation transaction fee per transaction. The fee is a single charge and will be the same regardless of the number of Creation Units purchased by an Authorized Participant on the same day.

An Authorized Participant who holds Creation Units and wishes to redeem at NAV would also pay a standard redemption fee per transaction to the Fund’s Custodian, on the date of such redemption, regardless of the number of Creation Units redeemed that day.

397

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Notes to Financial Statements (Continued)

October 31, 2022

 

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

If a Creation Unit is purchased or redeemed for cash, an additional variable fee may be charged. The following table discloses Creation Unit breakdown:

										Value at
		Creation Unit				Creation				October				Redemption
		Shares				Fee					31, 2022			Fee
Global X Social Media ETF			10,000			$	300			$	248,800			$	300
Global X Lithium & Battery Tech ETF			10,000				1500				671,300				1500
Global X Disruptive Materials ETF			10,000				800				180,700				800
Global X E-commerce ETF			10,000				500				151,400				500
Global X Emerging Markets Internet &			10,000				800				163,800				800
E-commerce ETF
Global X SuperDividend® ETF			10,000				2000				230,500				2000
Global X SuperDividend® U.S. ETF			10,000				150				191,800				150
Global X MSCI SuperDividend® EAFE ETF			10,000				1000				119,800				1000
Global X MSCI SuperDividend® Emerging			10,000				1600				213,600				3000
Markets ETF
Global X SuperDividend® REIT ETF			10,000				250				216,600				250
Global X NASDAQ 100® Covered Call ETF			10,000				500				161,500				500
Global X S&P 500® Covered Call ETF			10,000				2000				400,000				2000
Global X Russell 2000 Covered Call ETF			10,000				250				195,500				250
Global X Dow 30® Covered Call ETF			10,000				250				218,900				250
Global X Nasdaq 100® Covered Call & Growth			10,000				500				228,000				500
ETF
Global X S&P 500® Covered Call & Growth ETF			10,000				1500				254,700				1500
Global X Russell 2000® Covered Call & Growth			10,000				250				265,800				250
ETF
Global X SuperIncome™ Preferred ETF			10,000				300				96,700				300
Global X Renewable Energy Producers ETF			10,000				800				130,500				500
Global X S&P 500® Catholic Values ETF			10,000				1300				471,900				1300
Global X S&P Catholic Values Developed ex-			10,000				8900				233,000				8900
U.S. ® ETF
Global X Guru® Index ETF			10,000				250				334,800				250
Global X S&P 500® Tail Risk ETF			10,000				2000				232,100				2000
Global X S&P 500® Risk Managed Income ETF			10,000				2000				210,500				2000
Global X S&P 500® Collar 95-110 ETF			10,000				2000				244,700				2000
Global X NASDAQ 100® Tail Risk ETF			10,000				500				190,800				500

 

398

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Notes to Financial Statements (Continued)

October 31, 2022

 

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

								Value at
		Creation Unit			Creation			October			Redemption
		Shares			Fee				31, 2022		Fee
Global X NASDAQ 100® Risk Managed Income			10,000			500			181,700			500
ETF
Global X NASDAQ 100® Collar 95-110 ETF			10,000			500			220,000			500

 

CASH OVERDRAFT CHARGES – Per the terms of an agreement with BBH, if a Fund for which BBH is Custodian has a cash overdraft on a given day, it will be assessed an overdraft charge of LIBOR plus 2.00%. Per the terms of an agreement with BNY Mellon, if a Fund for which BNY Mellon is Custodian has a cash overdraft, it will be charged interest at a rate then charged by BNY Mellon to its institutional custody clients in the relevant currency. Cash overdraft charges are included in custodian fees on the Statements of Operations.

3. RELATED PARTIES AND SERVICE PROVIDER TRANSACTIONS

On July 2, 2018, the Adviser consummated a transaction pursuant to which it became an indirect, wholly-owned subsidiary of Mirae Asset Global Investments Co., Ltd. (“Mirae”). In this manner, the Adviser is ultimately controlled by Mirae, which is a leading financial services company in Korea and is the headquarters for the Mirae Asset Global Investments

Group.

The Adviser serves as the investment adviser and the administrator for the Funds. Subject to the supervision of the Board, the Adviser is responsible for managing the investment activities of the Funds and the Funds’ business affairs and other administrative matters and provides, or causes to be furnished, all supervisory, administrative and other services reasonably necessary for the operation of the Funds, including certain distribution services (provided pursuant to a separate distribution agreement), certain shareholder and distribution-related services (provided pursuant to a separate Rule 12b-1 Plan and related agreements) and investment advisory services (provided pursuant to a separate Investment Advisory Agreement), under what is essentially an "all-in" fee structure. For the Adviser’s service to the respective Funds, under a supervision and administration agreement (the "Supervision and Administration Agreement"), each Fund pays a monthly fee to the Adviser at the annual rate below (stated as a percentage of the average daily net assets of the Fund). In addition, the Funds bear other expenses, directly and indirectly, that are not covered by the Supervision and Administration Agreement, which may vary and affect the total expense ratios of the Funds, such as taxes, brokerage fees, commissions, custodian fees, acquired fund fees, and other transaction expenses, interest expenses and extraordinary expenses (such as litigation and indemnification expenses).

399

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Notes to Financial Statements (Continued)

October 31, 2022

 

3. RELATED PARTIES AND SERVICE PROVIDER TRANSACTIONS (continued)

The following table discloses supervision and administration fees payable pursuant to the Supervision and Administration Agreement:

		Supervision and
		Administration Fee
Global X Social Media ETF			0.65	%
Global X Lithium & Battery Tech ETF			0.75	%
Global X Disruptive Materials ETF			0.59	%
Global X E-commerce ETF			0.50	%
Global X Emerging Markets Internet & E-commerce ETF			0.65	%
Global X SuperDividend® ETF			0.58	%
Global X SuperDividend® U.S. ETF			0.45	%
Global X MSCI SuperDividend® EAFE ETF			0.55	%
Global X MSCI SuperDividend® Emerging Markets ETF			0.65	%
Global X SuperDividend® REIT ETF			0.58	%
Global X NASDAQ 100® Covered Call ETF			0.60	%
Global X S&P 500® Covered Call ETF			0.60	%
Global X Russell 2000 Covered Call ETF*			0.60	%
Global X Dow 30® Covered Call ETF			0.60	%
Global X Nasdaq 100® Covered Call & Growth ETF			0.60	%
Global X S&P 500® Covered Call & Growth ETF			0.60	%
Global X Russell 2000 Covered Call & Growth ETF**			0.60	%
Global X SuperIncomeTM Preferred ETF			0.58	%
Global X Renewable Energy Producers ETF			0.65	%
Global X S&P 500® Catholic Values ETF			0.29	%
Global X S&P Catholic Values Developed ex-U.S. ETF			0.35	%
Global X Guru® Index ETF			0.75	%
Global X S&P 500® Tail Risk ETF			0.60	%
Global X S&P 500® Risk Managed Income ETF			0.60	%
Global X S&P 500® Collar 95-110 ETF			0.60	%
Global X NASDAQ 100® Tail Risk ETF			0.60	%
Global X NASDAQ 100® Risk Managed Income ETF			0.60	%
Global X NASDAQ 100® Collar 95-110 ETF			0.60	%

 

*Pursuant to an expense limitation agreement in existence between the Global X Russell 2000 Covered Call ETF (the "Fund") and the Adviser, the Adviser agreed to waive or reimburse fees and/or limit Fund expenses to the extent necessary to assure that the operating expenses of the Fund, exclusive

400

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Notes to Financial Statements (Continued)

October 31, 2022

 

3. RELATED PARTIES AND SERVICE PROVIDER TRANSACTIONS (continued)

of taxes, brokerage fees, commissions, and other transaction expenses, interest, and extraordinary expenses (such as litigation and indemnification expenses) will not exceed 0.60% of the Fund’s average daily net assets per year, until at least March 1, 2024.

**Pursuant to an expense limitation agreement in existence between the Global X Russell 2000 Covered Call & Growth ETF (the "Fund") and the Adviser, the Adviser agreed to waive or reimburse fees and/or limit Fund expenses to the extent necessary to assure that the operating expenses of the Fund, exclusive of taxes, brokerage fees, commissions, and other transaction expenses, interest, and extraordinary expenses (such as litigation and indemnification expenses) will not exceed 0.60% of the

Fund’s average daily net assets per year, until at least September 27, 2023.

SEI Investments Global Funds Services (“SEIGFS”) serves as sub-administrator to the Funds. As sub-administrator, SEIGFS provides the Funds with required general administrative services, including, without limitation: office space, equipment, and personnel; clerical and general back office services; bookkeeping, internal accounting and secretarial services; the calculation of NAV; and assistance with the preparation and filing of reports, registration statements, proxy statements, and other materials required to be filed or furnished by the Funds under federal and state securities laws. As compensation for these services, SEIGFS receives certain out-of-pocket costs, transaction fees, and asset-based fees which are accrued daily and paid monthly by the Adviser.

SEI Investments Distribution Co. (“SIDCO”) serves as the Funds’ underwriter and distributor of Creation Units pursuant to a distribution agreement. SIDCO has no obligation to sell any specific quantity of Shares.

SIDCO bears the following costs and expenses relating to the distribution of Shares: (1) the costs of processing and maintaining records of creations of Creation Units; (2) all costs of maintaining the records required of a registered broker/dealer; (3) the expenses of maintaining its registration or qualification as a dealer or broker under Federal or state laws; (4) filing fees; and (5) all other expenses incurred in connection with the distribution services as contemplated in the distribution agreement. SIDCO receives no fee from the Funds for its distribution services under the distribution agreement, rather, the Adviser compensates SIDCO for certain expenses, out-of-pocket costs, and transaction fees.

BBH serves as Custodian and transfer agent of the Funds’ assets, with the exception of the Global X Russell 2000 Covered Call & Growth ETF. As a Custodian, BBH has agreed, for the Funds which it serves as Custodian, to (1) make receipts and disbursements of money on behalf of the Funds; (2) collect and receive all income and other payments and distributions on account of the Funds’ portfolio investments; (3) respond to correspondence from shareholders, security brokers and others relating to its duties; and (4) make periodic reports to the Funds concerning the Funds’ operations. BBH does not exercise any supervisory function over the purchase and sale of securities. As transfer agent, BBH has agreed to (1) issue and redeem Shares of each Fund; (2) make dividend and other distributions to shareholders of each Fund; (3) respond to correspondence by

 

401

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Notes to Financial Statements (Continued)

October 31, 2022

 

3. RELATED PARTIES AND SERVICE PROVIDER TRANSACTIONS (continued)

shareholders and others relating to its duties; (4) maintain shareholder accounts; and (5) make periodic reports to the Funds. As compensation for these services, BBH receives certain out-of-pocket costs, transaction fees and asset-based fees which are accrued daily and paid monthly by the Adviser from its fees.

BNY Mellon serves as Custodian and transfer agent to the Global X Russell 2000 Covered Call & Growth ETF. BNY Mellon may appoint domestic and foreign sub-custodians and use depositories from time to time to hold securities and other instruments purchased by the Trust in foreign countries and to hold cash and currencies for the Trust. BNY Mellon also serves as the Global X Russell 2000 Covered Call & Growth ETF's transfer agent. Under its transfer agency agreement with the Trust, BNY Mellon has undertaken with the Trust to provide the following services with respect to the Global X Russell 2000 Covered Call & Growth ETF: (i) perform and facilitate the performance of purchases and redemptions of Creation Units, (ii) prepare and transmit by means of Depository Trust Company’s book-entry system payments for dividends and distributions on or with respect to the Shares declared by the Trust on behalf of the Fund, as applicable, (iii) prepare and deliver reports, information and documents as specified in the transfer agency agreement, (iv) perform the customary services of a transfer agent and dividend disbursing agent, and (v) render certain other miscellaneous services as specified in the transfer agency agreement or as otherwise agreed upon.

402

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Notes to Financial Statements (Continued)

October 31, 2022

 

4. INVESTMENT TRANSACTIONS

For the year ended October 31, 2022, the purchases and sales of investments in securities, excluding in-kind transactions, long-term U.S. Government and short-term securities

							Sales and
			Purchases				Maturities
Global X Social Media ETF		$	51,201,085			$	60,642,317
Global X Lithium & Battery Tech ETF			1,965,674,898				1,846,039,750
Global X Disruptive Materials ETF			2,492,173				971,555
Global X E-commerce ETF			27,416,932				28,432,218
Global X Emerging Markets Internet & E-commerce ETF			798,182				826,592
Global X SuperDividend® ETF			814,733,517				743,082,048
Global X SuperDividend® U.S. ETF			266,303,132				294,651,401
Global X MSCI SuperDividend® EAFE ETF			3,952,207				3,813,319
Global X MSCI SuperDividend® Emerging Markets ETF			70,513,629				65,685,720
Global X SuperDividend® REIT ETF			304,888,230				313,304,597
Global X NASDAQ 100® Covered Call ETF			2,066,382,898				2,266,781,914
Global X S&P 500® Covered Call ETF			224,116,910				303,725,383
Global X Russell 2000 Covered Call ETF			2,131,176,431				2,126,300,401
Global X Dow 30® Covered Call ETF			2,332,057				3,751,546
Global X Nasdaq 100® Covered Call & Growth ETF			10,597,774				13,703,727
Global X S&P 500® Covered Call & Growth ETF			3,619,647				4,948,212
Global X Russell 2000 Covered Call & Growth ETF			67,807				–
Global X SuperIncome™ Preferred ETF			82,916,537				83,560,478
Global X Renewable Energy Producers ETF			21,438,205				24,976,306
Global X S&P 500® Catholic Values ETF			40,621,362				39,474,866
Global X S&P Catholic Values Developed ex-U.S. ETF			760,133				675,727
Global X Guru® Index ETF			63,775,704				63,712,704
Global X S&P 500® Tail Risk ETF			238,579				293,972
Global X S&P 500® Risk Managed Income ETF			4,242,444				4,386,747
Global X S&P 500® Collar 95-110 ETF			517,937				330,938
Global X NASDAQ 100® Tail Risk ETF			390,852				423,574
Global X NASDAQ 100® Risk Managed Income ETF			4,143,076				3,021,014
Global X NASDAQ 100® Collar 95-110 ETF			915,705				366,693

 

During the year ended October 31, 2022, there were no purchases or sales of long-term U.S. Government securities for the Funds.

403

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Notes to Financial Statements (Continued)

October 31, 2022

 

4. INVESTMENT TRANSACTIONS (continued)

For the year ended October 31, 2022, in-kind transactions associated with creations and redemptions were:

							Sales and				Realized
2022			Purchases				Maturities				Gain/(Loss)
Global X Social Media ETF		$	3,068,353			$	83,988,831			$	(9,540,595	)
Global X Lithium & Battery Tech ETF			450,406,166				490,596,683				201,189,438
Global X Disruptive Materials ETF			4,336,469				982,594				44,173
Global X E-commerce ETF			21,340,199				94,186,377				(19,348,684	)
Global X Emerging Markets Internet & E-commerce ETF			–				155,764				(74,102	)
Global X SuperDividend® ETF			85,863,761				18,953,294				2,334,467
Global X SuperDividend® U.S. ETF			151,468,436				89,175,458				13,338,234
Global X MSCI SuperDividend® EAFE ETF			–				3,097,137				169,109
Global X MSCI SuperDividend® Emerging Markets ETF			5,479,273				6,352,526				563,637
Global X SuperDividend® REIT ETF			2,790,082				72,814,635				6,195,344
Global X NASDAQ 100® Covered Call ETF			4,172,134,826				429,153,207				203,029,105
Global X S&P 500® Covered Call ETF			1,762,470,120				73,555,060				24,601,078
Global X Russell 2000 Covered Call ETF			1,168,841,485				64,274,433				2,562,052
Global X Dow 30® Covered Call ETF			56,833,434				–				–
Global X Nasdaq 100® Covered Call & Growth ETF			56,398,638				16,836,948				3,242,388
Global X S&P 500® Covered Call & Growth ETF			28,899,595				14,157,393				1,900,165
Global X Russell 2000 Covered Call & Growth ETF			2,589,444				–				–
Global X SuperIncome™ Preferred ETF			23,318,563				20,187,398				525,934
Global X Renewable Energy Producers ETF			26,235,712				47,968,614				4,674,235
Global X S&P 500® Catholic Values ETF			144,509,166				72,947,409				27,191,057
Global X S&P Catholic Values Developed ex-U.S. ETF			3,061,738				–				–
Global X Guru® Index ETF			2,090,830				6,742,607				768,480
Global X S&P 500® Tail Risk ETF			–				–				–
Global X S&P 500® Risk Managed Income ETF			30,889,711				7,071,974				639,015
Global X S&P 500® Collar 95-110 ETF			1,001,485				–				–
Global X NASDAQ 100® Tail Risk ETF			1,334,937				1,934,246				(38,325	)
Global X NASDAQ 100® Risk Managed Income ETF			15,602,681				5,869,329				(131,015	)
Global X NASDAQ 100® Collar 95-110 ETF			1,704,952				832,444				(38,369	)

To the extent consistent with their investment policies, certain Funds may either purchase or write options.

When a Fund purchases an option, the premium paid by it is recorded as an asset of the Fund. When a Fund writes an option, an amount equal to the net premium (the premium less the commission) received by the Fund is included in the liability section of the Fund’s Statement of Assets and Liabilities as a deferred credit. The amount of this asset or deferred credit will be subsequently marked-to-market to reflect the current value of the option purchased or written. The current value of the traded option is the last sale price or, in the absence of a sale, the current bid price. If an option purchased by a Fund expires unexercised, the Fund realizes a loss equal to the premium paid. If a Fund enters into a closing sale transaction on an option purchased by it, the Fund will realize a gain if the premium received by the Fund on the closing transaction is more than the premium paid to purchase the option, or a loss if it is less. If an option written by a Fund expires on the

 

404

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Notes to Financial Statements (Continued)

October 31, 2022

 

4. INVESTMENT TRANSACTIONS (continued)

stipulated expiration date or if a Fund enters into a closing purchase transaction, it will realize a gain (or loss if the cost of a closing purchase transaction exceeds the net premium received when the option is sold) and the deferred credit related to such option will be eliminated. If an option written by a Fund is exercised, the proceeds of the sale will be increased by the net premium originally received and the Fund will realize a gain or loss.

Risks may arise from an imperfect correlation between the change in market value of the securities held and the prices of options relating to the securities purchased or sold and from possible lack of a liquid secondary market for an option. The maximum exposure to loss for any purchased option is limited to the premium initially paid for the option. Written uncovered call options subject a Fund to unlimited risk of loss. Written covered call options limit the upside potential of a security above the strike price. Written put options expose a Fund to risk of loss if the value of the security declines below the strike price.

The Global X NASDAQ 100^® Covered Call ETF, Global X S&P 500^® Covered Call ETF, Global X Russell 2000 Covered Call ETF, Global X Dow 30^® Covered Call ETF, Global X Nasdaq 100^® Covered Call & Growth ETF, Global X S&P 500^® Covered Call & Growth ETF, Global X Russell 2000 Covered Call & Growth ETF, Global X S&P 500^® Tail Risk ETF, Global X S&P 500^® Risk Managed Income ETF, Global X S&P 500^® Collar 95-110 ETF, Global X Nasdaq 100^® Tail Risk ETF, Global X Nasdaq 100^® Risk Managed Income ETF, and Global X Nasdaq 100^® Collar 95-110 ETF may write covered call and/ or put options that correspond to their respective reference index. By writing a covered call option, a Fund, in exchange for the premium, foregoes the opportunity for capital appreciation above the strike price should the market price of the underlying security increase. Conversely, by writing a put option, the Fund, in exchange for the premium, accepts the risk of having to purchase a security at a fixed strike price even should the price of the underlying security decrease, exposing the Fund to downside risk in the underlying security.

When the written option expires, is terminated or is sold, a Fund will record a gain or loss. The net realized gain or loss on options contracts is reflected in the Statements of Operations and the net unrealized gains/(losses) are included as a component of the net change in unrealized appreciation/(depreciation) on options contracts in the Statements of Operations.

5. DERIVATIVE TRANSACTIONS

The following tables show the derivatives categorized by underlying risk exposure.

The fair value of derivative instruments as of October 31, 2022 was as follows:

405

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Notes to Financial Statements (Continued)

October 31, 2022

 

5. DERIVATIVE TRANSACTIONS (continued)

Asset Derivatives						Liability Derivatives
Statements of Assets and                                                                                                             Liability Location			Fair Value			Statements of Assets   and                                                                                                               Liability Location			Fair Value
Derivatives not accounted for as hedging instruments:
Global X NASDAQ 100® Covered Call ETF
Equity contracts	Investments purchased, at value		$	–		Equity contracts	Options written, at value		$	321,715,990
Total Derivatives not accounted for as hedging instruments			$	–					$	321,715,990

Asset Derivatives						Liability Derivatives
Statements of Assets and                                                                                                             Liability Location			Fair Value			Statements of Assets and                                                                                                               Liability Location			Fair Value
Derivatives not accounted for as hedging instruments:
Global X S&P 500® Covered Call ETF
Equity contracts	Investments purchased, at value		$	–		Equity contracts	Options written, at value		$	117,689,855
Total Derivatives not accounted for as hedging instruments			$	–					$	117,689,855

Asset Derivatives						Liability Derivatives
Statements of Assets and                                                                                                             Liability Location			Fair Value			Statements of Assets and                                                                                                               Liability Location			Fair Value
Derivatives not accounted for as hedging instruments:
Global X Russell 2000 Covered Call ETF
Equity contracts	Investments purchased, at value		$	–		Equity contracts	Options written, at value		$	121,998,740
Total Derivatives not accounted for as hedging instruments			$	–					$	121,998,740

Asset Derivatives						Liability Derivatives
Statements of Assets and                                                                                                             Liability Location			Fair Value			Statements of Assets and                                                                                                               Liability Location			Fair Value
Derivatives not accounted for as hedging instruments:
Global X Dow 30® Covered Call ETF
Equity contracts	Investments purchased, at value		$	–		Equity contracts	Options written, at value		$	4,086,998
Total Derivatives not accounted for as hedging instruments			$	–					$	4,086,998

406

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Notes to Financial Statements (Continued)

October 31, 2022

 

5. DERIVATIVE TRANSACTIONS (continued)

 

Asset Derivatives						Liability Derivatives
Statements of Assets and                                                                                                             Liability Location			Fair Value			Statements of Assets and                                                                                                               Liability Location			Fair Value
Derivatives not accounted for as hedging instruments:
Global X Nasdaq 100® Covered Call & Growth ETF
Equity contracts	Investments purchased, at value		$	–		Equity contracts	Options written, at value		$	1,488,595
Total Derivatives not accounted for as hedging instruments			$	–					$	1,488,595

Asset Derivatives						Liability Derivatives
Statements of Assets and                                                                                                             Liability Location			Fair Value			Statements of Assets and                                                                                                               Liability Location			Fair Value
Derivatives not accounted for as hedging instruments:
Global X S&P 500® Covered Call & Growth ETF
Equity contracts	Investments purchased, at value		$	–		Equity contracts	Options written, at value		$	1,225,516
Total Derivatives not accounted for as hedging instruments			$	–					$	1,225,516

Asset Derivatives						Liability Derivatives
Statements of Assets and                                                                                                             Liability Location			Fair Value			Statements of Assets and                                                                                                               Liability Location			Fair Value
Derivatives not accounted for as hedging instruments:
Global X Russell 2000 Covered Call & Growth ETF
Equity contracts	Investments purchased, at value		$	–		Equity contracts	Options written, at value		$	114,419
Total Derivatives not accounted for as hedging instruments			$	–					$	114,419

Asset Derivatives						Liability Derivatives
Statements of Assets and                                                                                                             Liability Location			Fair Value			Statements of Assets and                                                                                                               Liability Location			Fair Value
Derivatives not accounted for as hedging instruments:
Global X S&P 500® Tail Risk ETF
Equity contracts	Investments purchased, at value		$	20,828		Equity contracts	Options written, at value		$	–
Total Derivatives not accounted for as hedging instruments			$	20,828					$	–

407

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Notes to Financial Statements (Continued)

October 31, 2022

 

5. DERIVATIVE TRANSACTIONS (continued)

Asset Derivatives						Liability Derivatives
Statements of Assets and                                                                                                             Liability Location			Fair Value			Statements of Assets and                                                                                                               Liability Location			Fair Value
Derivatives not accounted for as hedging instruments:
Global X S&P 500® Risk Management Income ETF
Equity contracts	Investments purchased, at value		$	45,768		Equity contracts	Options written, at value		$	1,494,402
Total Derivatives not accounted for as hedging instruments			$	45,768					$	1,494,402

 

Asset Derivatives						Liability Derivatives
Statements of Assets and                                                                                                             Liability Location			Fair Value			Statements of Assets and                                                                                                               Liability Location			Fair Value
Derivatives not accounted for as hedging instruments:
Global X S&P 500® Collar 95-110  ETF
Equity contracts	Investments purchased, at value		$	59,515		Equity contracts	Options written, at value		$	20,585
Total Derivatives not accounted for as hedging instruments			$	59,515					$	20,585

Asset Derivatives						Liability Derivatives
Statements of Assets and                                                                                                             Liability Location			Fair Value			Statements of Assets and                                                                                                               Liability Location			Fair Value
Derivatives not accounted for as hedging instruments:
Global X Nasdaq 100® Tail Risk ETF
Equity contracts	Investments purchased, at value		$	30,870		Equity contracts	Options written, at value		$	–
Total Derivatives not accounted for as hedging instruments			$	30,870					$	–

Asset Derivatives						Liability Derivatives
Statements of Assets and                                                                                                             Liability Location			Fair Value			Statements of Assets and                                                                                                               Liability Location			Fair Value
Derivatives not accounted for as hedging instruments:
Global X Nasdaq 100® Risk Management Income ETF
Equity contracts	Investments purchased, at value		$	60,740		Equity contracts	Options written, at value		$	536,740
Total Derivatives not accounted for as hedging instruments			$	60,740					$	536,740

408

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5. DERIVATIVE TRANSACTIONS (continued)

 

Asset Derivatives						Liability Derivatives
Statements of Assets and                                                                                                             Liability Location			Fair Value			Statements of Assets and                                                                                                               Liability Location			Fair Value
Derivatives not accounted for as hedging instruments:
Global X Nasdaq 100® Collar 95-110 ETF
Equity contracts	Investments purchased, at value		$	94,325		Equity contracts	Options written, at value		$	15,280
Total Derivatives not accounted for as hedging instruments			$	94,325					$	15,280

The effect of derivative instruments on the Statements of Operations for the year ended October 31, 2022: Amount of realized gain or (loss) on derivatives recognized in income:

		Purchased Options				Written Options				Total
Global X NASDAQ 100® Covered Call ETF
Equity contracts		$	309,965,446			$	236,530,037			$	546,495,483
Global X S&P 500® Covered Call ETF
Equity contracts		$	–			$	66,176,874			$	66,176,874
Global X Russell 2000 Covered Call ETF
Equity contracts		$	–			$	111,479,681			$	111,479,681
Global X Dow 30® Covered Call ETF
Equity contracts		$	–			$	(258,366	)		$	(258,366	)
Global X Nasdaq 100® Covered Call & Growth ETF
Equity contracts		$	1,035,116			$	1,512,432			$	2,547,548
Global X S&P 500® Covered Call & Growth ETF
Equity contracts		$	382,385			$	695,347			$	1,077,732
Global X Russell 2000 Covered Call & Growth ETF
Equity contracts		$	–			$	27,432			$	27,432
Global X S&P 500® Tail Risk ETF
Equity contracts		$	12,305			$	–			$	12,305
Global X S&P 500® Risk Managed Income ETF
Equity contracts		$	1,034,185			$	302,290			$	1,336,475
Global X S&P 500® Collar 95-110 ETF
Equity contracts		$	101,661			$	79,581			$	181,242
Global X NASDAQ 100® Tail Risk ETF
Equity contracts		$	1,806			$	–			$	1,806
Global X NASDAQ 100® Risk Managed Income ETF
Equity contracts		$	1,331,844			$	484,654			$	1,816,498
Global X NASDAQ 100® Collar 95-110 ETF
Equity contracts		$	391,807			$	210,467			$	602,274

409

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Notes to Financial Statements (Continued)

October 31, 2022

 

Change in unrealized appreciation or (depreciation) on derivatives recognized in income:

		Purchased Options				Written Options				Total
Global X NASDAQ 100® Covered Call ETF
Equity contracts		$	–			$	137,334,997			$	137,334,997
Global X S&P 500® Covered Call ETF
Equity contracts		$	–			$	(32,226,391	)		$	(32,226,391	)
Global X Russell 2000 Covered Call ETF
Equity contracts		$	–			$	(63,527,543	)		$	(63,527,543	)
Global X Dow 30® Covered Call ETF
Equity contracts		$	–			$	(2,286,912	)		$	(2,286,912	)
Global X Nasdaq 100® Covered Call & Growth ETF
Equity contracts		$	–			$	572,453			$	572,453
Global X S&P 500® Covered Call & Growth ETF
Equity contracts		$	–			$	(120,239	)		$	(120,239	)
Global X Russell 2000 Covered Call & Growth ETF
Equity contracts		$	–			$	(57,991	)		$	(57,991	)
Global X S&P 500® Tail Risk ETF
Equity contracts		$	(1,120	)		$	–			$	(1,120	)
Global X S&P 500® Risk Managed Income ETF
Equity contracts		$	(204,000	)		$	(471,113	)		$	(675,113	)
Global X S&P 500® Collar 95-110 ETF
Equity contracts		$	(9,261	)		$	22,060			$	12,799
Global X NASDAQ 100® Tail Risk ETF
Equity contracts		$	17,998			$	–			$	17,998
Global X NASDAQ 100® Risk Managed Income ETF
Equity contracts		$	(91,059	)		$	90,428			$	(631	)
Global X NASDAQ 100® Collar 95-110 ETF
Equity contracts		$	14,841			$	49,958			$	64,799

 

410

---

Notes to Financial Statements (Continued)

October 31, 2022

 

5. DERIVATIVE TRANSACTIONS (continued)

The following table discloses the average quarterly balances of the Funds' derivative activity during the year ended October 31, 2022:

		Short Avg				Long Avg
Global X NASDAQ 100® Covered Call ETF		$	(215,175,083	)		$	-
Global X S&P 500® Covered Call ETF			(38,574,523	)			-
Global X Russell 2000 Covered Call ETF			(36,599,863	)			-
Global X Dow 30® Covered Call ETF			(582,340	)			-
Global X Nasdaq 100® Covered Call & Growth ETF			(957,605	)			-
Global X S&P 500® Covered Call & Growth ETF			(478,242	)			-
Global X Russell 2000 Covered Call & Growth ETF			(56,428	)			-
Global X S&P 500® Tail Risk ETF			-				55,528
Global X S&P 500® Risk Managed Income ETF			(517,224	)			246,907
Global X S&P 500® Collar 95-110 ETF			(26,810	)			104,369
Global X NASDAQ 100® Tail Risk ETF			-				68,390
Global X NASDAQ 100® Risk Managed Income ETF			(352,767	)			199,901
Global X NASDAQ 100® Collar 95-110 ETF			(61,379	)			130,033

 

6. TAX INFORMATION

The Global X SuperDividend^® REIT ETF has a tax year that ends on December 31. The following tax disclosures are representative as of October 31, 2022. Accordingly, the disclosures are for informational use by shareholders and are subject to change attributable to activity through the end of the tax year ending December 31, 2022.

The amount and character of income and capital gain distributions to be paid, if any, are determined in accordance with Federal income tax regulations, which may differ from U.S. GAAP. As a result, net investment income (loss) and net realized gain (loss) on investment transactions for a reporting period may differ significantly from distributions during such period. These book/tax differences may be temporary or permanent. To the extent these differences are permanent in nature, they are charged or credited to undistributed net investment income (loss), accumulated net realized gain (loss) or paid-in capital, as appropriate, in the period that the differences arise.

The following differences, primarily attributable to preferred stock interest, foreign currency, redemptions in-kind, REIT adjustments, MLP adjustments, net operating loss, return of capital distribution and sales of passive foreign investment companies have been reclassified to/from the following accounts during the fiscal year ended October 31, 2022:

 

411

---

Notes to Financial Statements (Continued)

October 31, 2022

 

6. TAX INFORMATION (continued)

						Distributable
		Paid-in				Earnings
Global X Funds		Capital				(Loss)
Global X Social Media ETF		$	(12,137,083	)		$	12,137,083
Global X Lithium & Battery Tech ETF			195,470,832				(195,470,832	)
Global X Disruptive Materials ETF			44,173				(44,173	)
Global X E-commerce ETF			(20,089,013	)			20,089,013
Global X Emerging Markets Internet & E-commerce ETF			(98,280	)			98,280
Global X SuperDividend® ETF			2,068,202				(2,068,202	)
Global X SuperDividend® U.S. ETF			10,585,698				(10,585,698	)
Global X MSCI SuperDividend® EAFE ETF			141,193				(141,193	)
Global X MSCI SuperDividend® Emerging Markets ETF			556,704				(556,704	)
Global X SuperDividend® REIT ETF			12,936,051				(12,936,051	)
Global X NASDAQ 100® Covered Call ETF			203,028,884				(203,028,884	)
Global X S&P 500® Covered Call ETF			24,549,893				(24,549,893	)
Global X Russell 2000 Covered Call ETF			2,562,029				(2,562,029	)
Global X Nasdaq 100® Covered Call & Growth ETF			3,242,386				(3,242,386	)
Global X S&P 500® Covered Call & Growth ETF			1,899,560				(1,899,560	)
Global X SuperIncome™ Preferred ETF			60,529				(60,529	)
Global X Renewable Energy Producers ETF			4,383,742				(4,383,742	)
Global X S&P 500® Catholic Values ETF			26,664,012				(26,664,012	)
Global X Guru® Index ETF			694,675				(694,675	)
Global X S&P 500® Risk Managed Income ETF			638,874				(638,874	)
Global X NASDAQ 100® Tail Risk ETF			(38,325	)			38,325
Global X NASDAQ 100® Risk Managed Income ETF			(131,015	)			131,015
Global X NASDAQ 100® Collar 95-110 ETF			(38,369	)			38,369

412

---

6. TAX INFORMATION (continued)

The tax character of dividends and distributions declared during the periods ended October 31, 2022 and October 31, 2021 were as follows:

Notes to Financial Statements (Continued)

October 31, 2022

 

		Long-Term
Global X Funds		Ordinary Income				Capital Gain				Return of Capital				Totals
Global X Social Media ETF
2022		$	–			$	–			$	663,636			$	663,636
2021			–				–				–				–
Global X Lithium & Battery Tech ETF
2022		$	13,550,903			$	–			$	–			$	13,550,903
2021			4,617,167				–				–				4,617,167
Global X Disruptive Materials ETF
2022		$	47,516			$	–			$	–			$	47,516
Global X E-commerce ETF
2022		$	283,940			$	613,980			$	66,565			$	964,485
2021			1,105,636				–				–				1,105,636
Global X Emerging Markets Internet & E-commerce ETF
2022		$	–			$	–			$	9,979			$	9,979
2021			–				–				–				–
Global X SuperDividend® ETF
2022		$	68,726,670			$	–			$	25,091,152			$	93,817,822
2021			65,648,210				–				–				65,648,210
Global X SuperDividend® U.S. ETF
2022		$	27,892,254			$	–			$	13,969,909			$	41,862,163
2021			31,364,614				–				3,660,741				35,025,355
Global X MSCI SuperDividend® EAFE ETF
2022		$	742,260			$	–			$	–			$	742,260
2021			542,165				–				–				542,165
Global X MSCI SuperDividend® Emerging Markets ETF
2022		$	5,018,224			$	–			$	1,057,591			$	6,075,815
2021			2,831,439				–				–				2,831,439
Global X SuperDividend® REIT ETF
2022		$	19,134,864			$	–			$	9,960,386			$	29,095,250
2021			21,690,155				–				9,729,725				31,419,880
Global X NASDAQ 100® Covered Call ETF
2022		$	211,906,795			$	–			$	642,111,562			$	854,018,357
2021			320,053,733				–				–				320,053,733
Global X S&P 500® Covered Call ETF
2022		$	35,714,783			$	–			$	133,893,882			$	169,608,665
2021			26,627,258				–				–				26,627,258
Global X Russell 2000 Covered Call ETF
2022		$	32,998,311			$	–			$	105,055,357			$	138,053,668
2021			21,788,088				–				–				21,788,088
Global X Dow 30® Covered Call ETF
2022		$	734,788			$	–			$	1,115,840			$	1,850,628

 

413

---

Notes to Financial Statements (Continued)

October 31, 2022

 

6. TAX INFORMATION (continued)

		Long-Term
Global X Funds		Ordinary Income				Capital Gain				Return of Capital				Totals
Global X Nasdaq 100® Covered Call & Growth ETF
2022		$	3,262,405			$	–			$	2,741,520			$	6,003,925
2021			919,727				–				–				919,727
Global X S&P 500® Covered Call & Growth ETF
2022		$	1,862,038			$	3,646			$	1,465,030			$	3,330,714
2021			376,497				–				–				376,497
Global X Russell 2000 Covered Call & Growth ETF
2022		$	12,860			$	–			$	–			$	12,860
Global X SuperIncome™ Preferred ETF
2022		$	12,532,497			$	–			$	653,473			$	13,185,970
2021			12,037,890				–				–				12,037,890
Global X Renewable Energy Producers ETF
2022		$	1,233,925			$	–			$	–			$	1,233,925
2021			1,677,449				177,538				–				1,854,987
Global X S&P 500® Catholic Values ETF
2022		$	6,232,670			$	930,733			$	–			$	7,163,403
2021			5,511,704				–				–				5,511,704
Global X S&P Catholic Values Developed ex-U.S. ETF
2022		$	188,641			$	15,110			$	–			$	203,751
2021			59,322				–				–				59,322
Global X Guru® Index ETF
2022		$	14,584			$	–			$	63,227			$	77,811
2021			1,352,859				–				–				1,352,859
Global X S&P 500® Tail Risk ETF
2022		$	91,737			$	4,597			$	–			$	96,334
2021			–				–				–				–
Global X S&P 500® Risk Managed Income ETF
2022		$	472,058			$	–			$	1,738,194			$	2,210,252
2021			51,640				–				–				51,640
Global X S&P 500® Collar 95-110 ETF
2022		$	70,495			$	413			$	–			$	70,908
2021			–				–				–				–
Global X NASDAQ 100® Tail Risk ETF
2022		$	66,715			$	–			$	–			$	66,715
2021			–				–				–				–
Global X NASDAQ 100® Risk Managed Income ETF
2022		$	128,024			$	–			$	869,114			$	997,138
2021			–				–				52,273				52,273
Global X NASDAQ 100® Collar 95-110 ETF
2022		$	55,614			$	2,343			$	–			$	57,957
2021			–				–				–				–

 

414

---

Notes to Financial Statements (Continued)

October 31, 2022

 

6. TAX INFORMATION (continued)

As of October 31, 2022, the components of tax basis accumulated losses were as follows:

		Global X Funds
							Global X
							Lithium &
			Global X Social				Battery Tech				Global X
			Media ETF				ETF				Materials ETF
Undistributed Ordinary Income		$	–			$	26,883,131			$	32,402
Capital Loss Carryforwards			(77,229,843	)			(335,683,668	)			(200,454	)
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency			(149,327,060	)			221,549,847				(1,290,732	)
Other Temporary Differences			1				(8	)			(92	)
Total Accumulated Losses		$	(226,556,902	)		$	(87,250,698	)		$	(1,458,876	)

			Global X Funds
							Global X
							Emerging
							Markets
			Global X				Internet &				Global X
			E-commerce				E-commerce				SuperDividend®
			ETF				ETF				ETF
Capital Loss Carryforwards			(12,071,474	)			(1,599,773	)			(699,715,191	)
Unrealized Depreciation on Investments and Foreign Currency			(63,385,153	)			(2,395,942	)			(246,083,387	)
Late Year Loss Deferral			(62,414	)			–				–
Other Temporary Differences			2				1				(18	)
Total Accumulated Losses		$	(75,519,039	)		$	(3,995,714	)		$	(945,798,596	)

			Global X Funds
											Global X
			Global X				Global X MSCI				SuperDividend®
			SuperDividend®				SuperDividend®				Emerging
			U.S. ETF				EAFE ETF				Markets ETF
Undistributed Ordinary Income		$	–			$	95,160			$	–
Capital Loss Carryforwards			(134,969,709	)			(1,384,198	)			(22,388,003	)
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency			7,344,913				(2,477,036	)			(15,104,428	)
Other Temporary Differences			7				(4	)			–
Total Accumulated Losses		$	(127,624,789	)		$	(3,766,078	)		$	(37,492,431	)

415

---

Notes to Financial Statements (Continued)

October 31, 2022

 

6. TAX INFORMATION (continued)

			Global X Funds
							Global X
			Global X				NASDAQ 100®				Global X S&P
			SuperDividend®				Covered Call				500® Covered
			REIT ETF(1)				ETF				Call ETF
Capital Loss Carryforwards			(225,141,660	)			(1,640,040,541	)			(242,032,972	)
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency			21,078,674				(1	)			–
Other Temporary Differences			(2,248,500	)			(64,418,861	)			(19,380,486	)
Total Accumulated Losses		$	(206,311,486	)		$	(1,704,459,403	)		$	(261,413,458	)

			Global X Funds
											Global X
			Global X Russell				Global X Dow				Nasdaq 100®
			2000 Covered				30® Covered				Covered Call &
			Call ETF				Call ETF				Growth ETF
Capital Loss Carryforwards			(165,351,194	)			(968,750	)			(19,799,268	)
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency			(307	)			1				1
Other Temporary Differences			(13,251,278	)			(496,111	)			(292,457	)
Total Accumulated Losses		$	(178,602,779	)		$	(1,464,860	)		$	(20,091,724	)

			Global X  Funds
			Global X S&P				Global X Russell
			500® Covered				2000 Covered				Global X
			Call & Growth				Call & Growth				SuperIncome™
			ETF				ETF				Preferred ETF
Undistributed Ordinary Income		$	–			$	78,834			$	–
Undistributed Long-Term Capital Gain			–				2,217				–
Capital Loss Carryforwards			(7,204,713	)			–				(68,984,053	)
Unrealized Depreciation on Investments and Foreign Currency			–				(1	)			(27,694,893	)
Other Temporary Differences			(199,676	)			(12,859	)			4
Total Distributable Earnings (Accumulated Losses)		$	(7,404,389	)		$	68,191			$	(96,678,942	)

			Global X Funds
			Global X								Global X S&P
			Renewable				Global X				Catholic Values
			Energy				500® Catholic				Developed ex-
			Producers ETF				Values ETF				U.S. ETF
Undistributed Ordinary Income		$	190,789			$	2,815,266			$	37,069
Capital Loss Carryforwards			(6,143,058	)			(2,533,395	)			(46,396	)
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency			(31,066,005	)			34,574,417				(1,070,631	)
Other Temporary Differences			5				4				1
Total Distributable Earnings (Accumulated Losses)		$	(37,018,269	)		$	34,856,292			$	(1,079,957	)

 

416

---

Notes to Financial Statements (Continued)

October 31, 2022

 

6. TAX INFORMATION (continued)

			Global X Funds
											Global X S&P
							Global X S&P				500® Risk
			Global X Guru®				500® Tail Risk				Managed
			Index ETF				ETF				Income ETF
Undistributed Ordinary Income		$	–			$	11,918			$	–
Capital Loss Carryforwards			(17,381,906	)			(520,630	)			(3,696,968	)
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency			(6,777,757	)			–				1
Other Temporary Differences			(7	)			–				(247,338	)
Total Accumulated Losses		$	(24,159,670	)		$	(508,712	)		$	(3,944,305	)

 

			Global X Funds
											Global X
			Global X S&P				Global X				NASDAQ 100®
			500® Collar 95-				NASDAQ 100®				Risk Managed
			110 ETF				Tail Risk ETF				Income ETF
Undistributed Ordinary Income		$	14,640			$	1,938			$	–
Capital Loss Carryforwards			(398,833	)			(746,234	)			(2,295,488	)
Unrealized Depreciation on Investments and Foreign Currency			(1	)			–				–
Other Temporary Differences			2				1				(108,443	)
Total Accumulated Losses		$	(384,192	)		$	(744,295	)		$	(2,403,931	)

			Global X Funds
			Global X
			NASDAQ 100®
			Collar 95-110
Undistributed Ordinary Income		$	3,127
Capital Loss Carryforwards			(534,957	)
Unrealized Depreciation on Investments and Foreign Currency			(1	)
Other Temporary Differences			4
Total Accumulated Losses		$	(531,827	)

⁽¹⁾ The Global X SuperDividend^® REIT ETF has a tax year that ends on December 31.

For taxable years beginning after December 22, 2010, a Registered Investment Company within the meaning of the 1940 Act is permitted to carry forward net capital losses to offset capital gains realized in later years, and the losses carried forward retain their original character as either long-term or short-term losses. Losses carried forward under these provisions are as follows:

 

417

---

Notes to Financial Statements (Continued)

October 31, 2022

 

6. TAX INFORMATION (continued)

			Short-Term				Long-Term
			Loss				Loss				Total *
Global X Social Media ETF		$	16,502,288			$	60,727,555			$	77,229,843
Global X Lithium & Battery Tech ETF			226,806,120				108,877,548				335,683,668
Global X Disruptive Materials ETF			200,454				–				200,454
Global X E-commerce ETF			3,035,267				9,036,207				12,071,474
Global X Emerging Markets Internet & E-commerce ETF			431,967				1,167,806				1,599,773
Global X SuperDividend® ETF			286,175,435				413,539,756				699,715,191
Global X SuperDividend® U.S. ETF			123,337,380				11,632,329				134,969,709
Global X MSCI SuperDividend® EAFE ETF			126,722				1,257,475				1,384,197
Global X MSCI SuperDividend® Emerging Markets ETF			17,992,277				4,395,726				22,388,003
Global X SuperDividend® REIT ETF			156,084,925				69,056,735				225,141,660
Global X NASDAQ 100® Covered Call ETF			656,016,216				984,024,325				1,640,040,541
Global X S&P 500® Covered Call ETF			96,805,692				145,227,280				242,032,972
Global X Russell 2000 Covered Call ETF			66,140,478				99,210,716				165,351,194
Global X Dow 30® Covered Call ETF			387,500				581,250				968,750
Global X Nasdaq 100® Covered Call & Growth ETF			7,919,707				11,879,561				19,799,268
Global X S&P 500® Covered Call & Growth ETF			2,881,662				4,323,051				7,204,713
Global X SuperIncome™ Preferred ETF			18,580,766				50,403,287				68,984,053
Global X Renewable Energy Producers ETF			2,371,921				3,771,137				6,143,058
Global X S&P 500® Catholic Values ETF			2,533,395				–				2,533,395
Global X S&P Catholic Values Developed ex-U.S. ETF			46,396				–				46,396
Global X Guru® Index ETF			16,182,473				1,199,433				17,381,906
Global X S&P 500® Tail Risk ETF			208,231				312,399				520,630
Global X S&P 500® Risk Managed Income ETF			1,478,770				2,218,198				3,696,968
Global X S&P 500® Collar 95-110 ETF			159,512				239,321				398,833
Global X NASDAQ 100® Risk Managed Income ETF			918,195				1,377,293				2,295,488
Global X NASDAQ 100® Tail Risk ETF			298,494				447,741				746,235
Global X NASDAQ 100A® Collar 95-110 ETF			213,983				320,974				534,957

During the year ended October 31, 2022, the following Funds utilized capital loss carryforwards to offset capital gains amounting to:

			Short-Term				Long-Term
			Loss				Loss				Total *
Global X SuperDividend® U.S. ETF		$	11,468,082			$	33,700,368			$	45,168,450
Global X MSCI SuperDividend® EAFE ETF			–				133,985				133,985
Global X SuperDividend® REIT ETF			1,491,829				–				1,491,829

 

418

---

Notes to Financial Statements (Continued)

October 31, 2022

 

6. TAX INFORMATION (continued)

The Federal tax cost basis of investments and aggregate gross unrealized appreciation and depreciation on investments held by the Funds at October 31, 2022 were as follows:

						Aggregated				Aggregated				Net
						Gross				Gross				Unrealized
		Federal Tax				Unrealized				Unrealized				Appreciation
Global X Funds		Cost				Appreciation				Depreciation				(Depreciation)
Global X Social Media ETF		$	253,343,686			$	3,028,654			$	(152,355,714	)		$	(149,327,060	)
Global X Lithium & Battery Tech ETF			3,797,609,058				718,703,636				(497,153,789	)			221,549,847
Global X Disruptive Materials ETF			4,718,225				116,267				(1,406,999	)			(1,290,732	)
Global X E-commerce ETF			106,300,184				7,588				(63,392,741	)			(63,385,153	)
Global X Emerging Markets Internet &
E-commerce ETF			4,545,327				2,791				(2,398,733	)			(2,395,942	)
Global X SuperDividend® ETF			947,122,033				25,276,002				(271,359,389	)			(246,083,387	)
Global X SuperDividend® U.S. ETF			693,665,968				83,018,320				(75,673,407	)			7,344,913
Global X MSCI SuperDividend® EAFE ETF			10,821,955				107,250				(2,584,286	)			(2,477,036	)
Global X MSCI SuperDividend® Emerging
Markets ETF			54,276,023				1,722,792				(16,827,220	)			(15,104,428	)
Global X SuperDividend® REIT ETF			383,036,781				6,189,615				(82,128,457	)			(75,938,842	)
Global X NASDAQ 100® Covered Call ETF			6,388,969,287				375,988,467				(375,988,468	)			(1	)
Global X S&P 500® Covered Call ETF			1,932,131,631				93,172,733				(93,172,733	)			–
Global X Russell 2000 Covered Call ETF			1,340,165,027				100,534,374				(100,534,681	)			(307	)
Global X Dow 30® Covered Call ETF			52,903,475				3,100,079				(3,100,078	)			1
Global X Nasdaq 100® Covered Call &
Growth ETF			60,996,148				1,118,929				(1,118,928	)			1
Global X S&P 500® Covered Call & Growth
ETF			41,461,026				1,729,860				(1,729,860	)			–
Global X Russell 2000 Covered Call &
Growth ETF			2,655,352				(1	)			–				(1	)
Global X SuperIncome™ Preferred ETF			224,465,443				3,257,161				(30,952,054	)			(27,694,893	)
Global X Renewable Energy Producers ETF			122,615,961				4,522,946				(35,588,951	)			(31,066,005	)
Global X S&P 500® Catholic Values ETF			514,201,946				78,717,755				(44,143,338	)			34,574,417
Global X S&P Catholic Values Developed
ex-U.S. ETF			6,657,095				143,017				(1,213,648	)			(1,070,631	)
Global X Guru® Index ETF			54,052,304				3,449,418				(10,227,175	)			(6,777,757	)
Global X S&P 500® Tail Risk ETF			3,013,059				195,747				(195,747	)			–
Global X S&P 500® Risk Managed Income
ETF			24,588,329				869,020				(869,019	)			1
Global X S&P 500® Collar 95-110 ETF			3,914,993				222,523				(222,524	)			(1	)
Global X NASDAQ 100® Tail Risk ETF			1,906,039				33,906				(33,906	)			–
Global X NASDAQ 100® Risk Managed
Income ETF			10,708,444				168,411				(168,411	)			–
Global X NASDAQ 100® Collar 95-110 ETF			3,075,007				49,688				(49,689	)			(1	)

 

The preceding differences between book and tax cost are primarily due to mark-to-market treatment of passive foreign investment companies, mixed straddles, MLP adjustments, wash sales, late year loss deferrals and differences due to preferred debt securities.

419

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Notes to Financial Statements (Continued)

October 31, 2022

 

7. CONCENTRATION OF RISKS

The Funds invest in securities of foreign issuers in various countries. These investments may involve certain considerations and risks not typically associated with investments in the United States as a result of, among other factors, the possibility of future political and economic developments, the level of governmental supervision and regulation of securities markets in the respective countries.

The securities markets of emerging countries are less liquid, subject to greater price volatility, and have a smaller market capitalization than those of U.S. securities markets. In certain countries, there may be fewer publicly traded securities and the market may be dominated by a few issuers or sectors. Issuers and securities markets in such countries are not subject to as extensive and frequent accounting, financial and other reporting requirements or as comprehensive government regulations as are issuers and securities markets in the U.S. In particular, the assets and profits appearing on the financial statements of emerging country issuers may not reflect their financial position or results of operations in the same manner as financial statements for U.S. issuers. Substantially less information may be publicly available about emerging country issuers than is available about issuers in the United States.

The Funds may be subject to taxes imposed by countries in which they invest. Such taxes are generally based on either income or gains earned or repatriated. The Funds accrue and apply such taxes to net investment income, net realized gains and net unrealized gains as income and/or capital gains are earned.

Except for the Global X Russell 2000^® Covered Call ETF, which uses a representative sampling strategy, the Funds use a replication strategy. A replication strategy is an indexing strategy that involves investing in the securities of an underlying index in approximately the same proportions as in the underlying index. A representative sampling strategy is an indexing strategy that involves investing in a representative sample of securities (including indirect investments through underlying ETFs) that collectively has an investment profile similar to an underlying index in terms of key risk factors, performance attributes and other characteristics. Each Fund may utilize a representative sampling strategy with respect to its underlying indices when a replication strategy might be detrimental to its shareholders, such as when there are practical difficulties or substantial costs involved in compiling a portfolio of equity securities to follow their underlying indices, or, in certain instances, when securities in the underlying indices become temporarily illiquid, unavailable or less liquid, or due to legal restrictions (such as diversification requirements that apply to a Fund but not the underlying index).

The elimination of the London Inter-Bank Offered Rate (“LIBOR”) may adversely affect the interest rates on, and value of, certain Fund investments for which the value is tied to LIBOR. The U.K. Financial Conduct Authority has announced that it intends to stop compelling or inducing banks to submit LIBOR rates after 2021. On March 5, 2021, the

420

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Notes to Financial Statements (Continued)

October 31, 2022

 

7. CONCENTRATION OF RISKS (continued)

administrator of LIBOR clarified that the publication of LIBOR on a representative basis will cease for the one-week and two-month U.S. dollar LIBOR settings immediately after December 31, 2021, and for the remaining U.S. dollar LIBOR settings immediately after June 30, 2023. Alternatives to LIBOR are established or in development in most major currencies, including the Secured Overnight Financing Rate (“SOFR”), which is intended to replace U.S. dollar LIBOR. Markets are slowly developing in response to these new rates. Questions regarding the impact of this transition remain a concern for the Funds. Accordingly, it is difficult to predict the full impact of the transition away from LIBOR on the Funds until new reference rates and fallbacks for both legacy and new products, instruments and contracts are commercially accepted. Please refer to each Fund’s prospectus and statement of additional information (“SAI”) for a more complete description of risks.

8. LOANS OF PORTFOLIO SECURITIES

Each Fund may lend portfolio securities having a market value up to one-third of its total assets. Security loans made pursuant to a securities lending agreement with BBH are initially required to be secured by collateral equal to at least 102% of the value of domestic equity securities and American Depositary Receipts (“ADRs”) and 105% of the value of foreign equity securities (other than ADRs). Such collateral received in connection with these loans will be cash and can be invested in repurchase agreements, short term investments or U.S. Treasury obligations, and is recognized in the Schedules of Investments and Statements of Assets and Liabilities. The obligation to return securities lending collateral is also recognized as a liability in the Statements of Assets and Liabilities. It is the Funds’ policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan.

Lending securities entails a risk of loss to the Funds if and to the extent that the market values of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower failed to return the securities. In the event the borrower may not provide additional collateral when required or may not return the securities when due, the securities lending agency agreement requires the lending agent to indemnify the Funds by replacing either the security or the security’s current market value to the Funds. The Funds could suffer a loss if the value of an investment purchased with cash collateral falls below the market value of loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. The Funds could also experience delays and costs in gaining access to the collateral. The Funds bear the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested.

421

---

Notes to Financial Statements (Continued)

October 31, 2022

 

8. LOANS OF PORTFOLIO SECURITIES (continued)

At October 31, 2022, the following Funds had securities on loan, by counterparty:

							Cash
			Market Value				Collateral(1)
Global X Social Media ETF
Barclays Capital Inc.			$	105,256			$	109,150
Citigroup Global Markets Inc.				12,070				12,493
J.P. Morgan Securities LLC				109,836				116,251
Morgan Stanley & Co. LLC				625,431				643,980
	Total		$	852,593			$	881,874

								Cash
				Market Value				Collateral(1)
Global X Lithium & Battery Tech ETF
Barclays Bank PLC			$	26,035,092			$	27,570,808
BNP Paribas Securities Corp				5,707,471				5,995,754
BofA Securities Inc.				19,571,620				20,418,109
Citigroup Global Markets Inc.				3,122,874				3,339,300
Goldman Sachs & Co.				21,773,081				22,877,887
J.P. Morgan Securities LLC				3,561,969				3,660,506
Morgan Stanley & Co. LLC				35,051,051				36,524,572
SG Americas Securities LLC				637,885				1,047,296
UBS Securities LLC				2,228,094				2,226,420
Wells Fargo Securities LLC				1,563,925				1,586,250
	Total		$	119,253,062			$	125,246,902

							Cash
			Market Value				Collateral(1)
Global X E-commerce ETF
BMO Capital Markets			$	246,480			$	240,175
BNP Paribas Securities Corp				18,810				19,350
Morgan Stanley & Co. LLC				339,517				358,650
UBS AG London Branch				18,585				108,206
	Total		$	623,392			$	726,381

 

 

422

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Notes to Financial Statements (Continued)

October 31, 2022

 

8. LOANS OF PORTFOLIO SECURITIES (continued)

							Cash
			Market Value				Collateral(1)
Global X SuperDividend® ETF
Barclays Capital Inc.			$	1,913,616			$	2,426,968
BMO Capital Markets				2,218,400				2,241,270
BNP Paribas Securities Corp				2,903,253				2,990,110
BofA Securities Inc.				2,036,677				2,096,847
Citigroup Global Markets Inc.				3,517,117				3,627,250
Goldman Sachs & Co.				4,944,739				5,166,951
J.P. Morgan Securities LLC				6,106,887				6,339,759
Morgan Stanley & Co. LLC				1,520,667				1,646,568
UBS AG London Branch				506,550				538,365
UBS Securities LLC				872,742				904,305
Wells Fargo Securities LLC				144,348				150,050
	Total		$	26,684,996			$	28,128,443

							Cash
			Market Value				Collateral(1)
Global X SuperDividend® U.S. ETF
BNP Paribas Securities Corp			$	259,962			$	266,400
Citigroup Global Markets Inc.				2,268,944				2,324,716
Goldman Sachs & Co.				10,483,018				10,684,198
J.P. Morgan Securities LLC				3,113,264				3,207,300
Scotia Capital Inc				2,908,407				2,952,141
Wells Fargo Securities LLC				15,960				16,500
	Total		$	19,049,555			$	19,451,255

							Cash
			Market Value				Collateral(1)
Global X SuperDividend® REIT ETF
BNP Paribas Securities Corp			$	2,988,244			$	3,065,545
BofA Securities Inc.				292,150				354,353
Citigroup Global Markets Inc.				1,690,872				1,732,190
Goldman Sachs & Co.				1,146,460				1,174,475
Nomura Securities International Inc				5,308,389				5,582,376
Scotia Capital Inc				7,842,027				8,407,714
UBS AG London Branch				740,076				778,520
	Total		$	20,008,218			$	21,095,173

							Cash
			Market Value				Collateral(1)
Global X SuperIncome™ Preferred ETF
BofA Securities Inc.			$	515,412			$	530,450
Goldman Sachs & Co.				2,031,814				2,065,588
	Total		$	2,547,226			$	2,596,038

 

 

423

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Notes to Financial Statements (Continued)

October 31, 2022

 

8. LOANS OF PORTFOLIO SECURITIES (continued)

							Cash
			Market Value				Collateral(1)
Global X Renewable Energy Producers ETF
Barclays Capital Inc.			$	282,558			$	309,300
BNP Paribas Securities Corp				35,550				35,550
BofA Securities Inc.				161,721				161,721
Citigroup Global Markets Inc.				147,935				145,635
	Total		$	627,764			$	652,206

							Cash
			Market Value				Collateral(1)
Global X Guru® Index ETF
Morgan Stanley & Co. LLC			$	189,104			$	193,980
Scotia Capital Inc				560,232				593,340
	Total		$	749,336			$	787,320

 

(1) It is the Funds' policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan.

9. CONTRACTUAL OBLIGATION

The Funds enter into contracts in the normal course of business that contain a variety of indemnifications. The Funds’ maximum exposure under these contracts is unknown; however, the Funds have not had prior gains or losses pursuant to these contracts. Management has reviewed the Funds’ existing contracts and expects the risk of loss to be remote.

Pursuant to the Trust’s organizational documents, the Trustees of the Trust (the “Trustees”) and the Trust’s officers are indemnified against certain liabilities that may arise out of the performance of their duties.

10. SUBSEQUENT EVENTS

The Board of the Trust approved a reverse share split of one to three (1:3) of the issued and outstanding shares of the Global X Emerging Markets Internet & E-commerce ETF, Global X SuperDividend^® ETF, Global X MSCI SuperDividend^® Emerging Markets ETF and Global X SuperDividend^® REIT ETF (the "Reverse Share Split"). The Reverse Share Split was completed after the close of business on December 19, 2022. The effect of this transaction for each Fund was to divide the number of outstanding Shares of the Fund by three, resulting in a corresponding increase in the NAV per Share. The capital share activity presented on the Statement of Changes in Net Assets for each of the years in the period then ended, and the per share data in the financial highlights for each of the years in the period then ended have been updated to reflect this reverse share split. There were no changes in net assets, results of operations or total return as a result of this transaction.

424

---

Notes to Financial Statements (Concluded)

October 31, 2022

 

10. SUBSEQUENT EVENTS (continued)

The Funds have been evaluated by management regarding the need for additional disclosures (other than what is disclosed in the preceding paragraph) and/or adjustments resulting from subsequent events. Based on this evaluation, no additional adjustments were required to the financial statements.

425

---

Report of Independent Registered Public Accounting Firm

 

To the Board of Trustees of Global X Funds and Shareholders of each of the twenty-eight funds listed in the table below.

Opinions on the Financial Statements

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (twenty-eight of the funds constituting Global X Funds, hereafter collectively referred to as the "Funds") as of October 31, 2022, the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes, and the financial highlights for each of the periods indicated in the table below (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of October 31, 2022, the results of each of their operations, the changes in each of their net assets, and each of the financial highlights for each of the periods indicated in the table below, in conformity with accounting principles generally accepted in the United States of America.

Global X SuperDividend® ETF (1)	Global X S&P 500® Covered Call & Growth ETF (5)
Global X SuperDividend® U.S. ETF (1)	Global X Nasdaq 100® Covered Call & Growth ETF (5)
Global X Guru® Index ETF (1)	Global X Emerging Markets Internet & E-commerce ETF (6)
Global X MSCI SuperDividend® Emerging Markets ETF (1)	Global X Nasdaq 100® Tail Risk ETF (7)
Global X SuperDividend® REIT ETF (1)	Global X Nasdaq 100® Risk Managed Income ETF (7)
Global X SuperIncome™ Preferred ETF (1)	Global X Nasdaq 100® Collar 95-110 ETF (7)
Global X Social Media ETF (1)	Global X S&P 500® Tail Risk ETF (7)
Global X Renewable Energy Producers ETF (1)	Global X S&P 500® Collar 95-110 ETF (7)
Global X Lithium & Battery Tech ETF (1)	Global X S&P 500® Risk Managed Income ETF (7)
Global X MSCI SuperDividend® EAFE ETF (1)	Global X Disruptive Materials ETF (8)
Global X S&P 500® Catholic Values ETF (1)	Global X Dow 30® Covered Call ETF (9)

426

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Report of Independent Registered Public Accounting Firm

 

Global X E-commerce ETF (2)	Global X Russell 2000 Covered Call & Growth ETF (10)
Global X Russell 2000 Covered Call ETF (3)	Global X S&P 500® Covered Call ETF (11)
Global X S&P Catholic Values Developed ex-U.S. ETF (4)	Global X NASDAQ 100® Covered Call ETF (11)

1.	Statements of operations for the year ended October 31, 2022, the statements of changes in net assets for each of the two years in the period ended October 31, 2022, and the financial highlights for each of the five years in the period ended October 31, 2022.
2.	Statement of operations for the year ended October 31, 2022, the statements of changes in net assets for each of the two years in the period ended October 31, 2022, and the financial highlights for each of the three years in the period ended October 31, 2022 and for the period November 27, 2018 (commencement of operations) through October 31, 2019.
3.	Statement of operations for the year ended October 31, 2022, the statements of changes in net assets for each of the two years in the period ended October 31, 2022, and the financial highlights for each of the three years in the period ended October 31, 2022 and for the period April 17, 2019 (commencement of operations) through October 31, 2019.
4.	Statement of operations for the year ended October 31, 2022, the statements of changes in net assets for each of the two years in the period ended October 31, 2022, and the financial highlights for each of the two years in the period ended October 31, 2022 and for the period June 22, 2020 (commencement of operations) through October 31, 2020.
5.	Statements of operations for the year ended October 31, 2022, the statements of changes in net assets for each of the two years in the period ended October 31, 2022, and the financial highlights for each of the two years in the period ended October 31, 2022 and for the period September 18, 2020 (commencement of operations) through October 31, 2020.
6.	Statement of operations for the year ended October 31, 2022 and the statements of changes in net assets and the financial highlights for the year ended October 31, 2022 and the period November 9, 2020 (commencement of operations) through October 31, 2021.
7.	Statements of operations for the year ended October 31, 2022 and the statements of changes in net assets and the financial highlights for the year ended October 31, 2022 and the period August 25, 2021 (commencement of operations) through October 31, 2021.
8.	Statement of operations, the statement of changes in net assets and the financial highlights for the period January 24, 2022 (commencement of operations) through October 31, 2022.

427

---

Report of Independent Registered Public Accounting Firm

 

9.	Statement of operations, the statement of changes in net assets and the financial highlights for the period February 23, 2022 (commencement of operations) through October 31, 2022.
10.	Statement of operations, the statement of changes in net assets and the financial highlights for the period October 4, 2022 (commencement of operations) through October 31, 2022.
11.	Statement of operations for the year ended October 31, 2022, the statements of changes in net assets for each of the two years in the period ended October 31, 2022 and the financial highlights for each of the four years in the period ended October 31, 2022.

 

The financial statements of Global X S&P 500^® Covered Call ETF and Global X NASDAQ 100^® Covered Call ETF as of and for the year ended October 31, 2018 and the financial highlights for each of the periods ended on or prior to October 31, 2018 (not presented herein, other than the financial highlights) were audited by other auditors whose report dated December 28, 2018 expressed an unqualified opinion on those financial statements and financial highlights.

Basis for Opinions

These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2022, by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we

 

428

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Report of Independent Registered Public Accounting Firm

 

performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

December 29, 2022

We have served as the auditor of one or more investment companies in Global X Funds since 2016.

 

429

---

Disclosure of Fund Expenses (Unaudited)

 

All ETFs (such as the Funds) have operating expenses. As a shareholder of an ETF, your investment is affected by these ongoing costs, which include (among others) costs for ETF management, administrative services, commissions, and shareholder reports like this one. It is important for you to understand the impact of these costs on your investment returns. In addition, a shareholder is responsible for brokerage fees as a result of the shareholder’s investment in a Fund.

Operating expenses such as these are deducted from a Fund’s gross income and directly reduce their final investment returns. These expenses are expressed as a percentage of the Fund’s average net assets; this percentage is known as the Fund’s expense ratio.

The following examples use the expense ratio and are intended to help you understand the ongoing costs (in dollars) of investing in a Fund and to compare these costs with those of other funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period (May 1, 2020 through October 31, 2021).

The table on the next page illustrates the Funds’ costs in two ways:

Actual Fund Return. This section helps you to estimate the actual expenses that your Fund incurred over the period. The “Expenses Paid During Period” column shows the actual dollar expense cost incurred by a $1,000 investment in the Fund, and the “Ending Account Value” number is derived from deducting that expense cost from the Fund’s gross investment return.

You can use this information, together with the actual amount you invested in the Fund, to estimate the expenses you paid over that period. Simply divide your actual account value by $1,000 to arrive at a ratio (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply that ratio by the number shown for your Fund under “Expenses Paid During Period.”

Hypothetical 5% Return. This section helps you compare your Fund’s costs with those of other funds. It assumes that the Fund had an annual 5% return before expenses during the year, but that the expense ratio (Column 3) for the period is unchanged. This example is useful in making comparisons because the SEC requires all funds to make this 5% calculation. You can assess your Fund’s comparative cost by comparing the hypothetical result for your Fund in the “Expenses Paid During Period” column with those that appear in the same charts in the shareholder reports for other funds.

NOTE: Because the return is set at 5% for comparison purposes — NOT your Fund’s actual return — the account values shown may not apply to your specific investment.

 

430

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Disclosure of Fund Expenses (Unaudited) (Continued)

 

			Beginning				Ending				Annualized				Expense
			Account Value				Account Value				Expense				Paid During
			5/1/2022				10/31/2022				Ratios				Period(1)
Global X Social Media ETF
Actual Fund Return		$	1,000.00			$	650.90				0.66	%		$	2.75
Hypothetical 5% Return			1,000.00				1,021.88				0.66				3.36
Global X Lithium & Battery Tech ETF
Actual Fund Return		$	1,000.00			$	1,012.00				0.75	%		$	3.80
Hypothetical 5% Return			1,000.00				1,021.43				0.75				3.82
Global X Disruptive Materials ETF
Actual Fund Return		$	1,000.00			$	771.40				0.60	%		$	1.19
Hypothetical 5% Return			1,000.00				4.08				0.60				4.68
Global X E-commerce ETF
Actual Fund Return		$	1,000.00			$	775.60				0.50	%		$	2.24
Hypothetical 5% Return			1,000.00				1,022.69				0.50				2.55
Global X Emerging Markets Internet & E-commerce ETF
Actual Fund Return		$	1,000.00			$	750.60				0.65	%		$	2.87
Hypothetical 5% Return			1,000.00				1,021.93				0.65				3.31
Global X SuperDividend® ETF
Actual Fund Return		$	1,000.00			$	768.30				0.64	%		$	2.85
Hypothetical 5% Return			1,000.00				1,021.98				0.64				3.26
Global X SuperDividend® U.S. ETF
Actual Fund Return		$	1,000.00			$	977.40				0.45	%		$	2.24
Hypothetical 5% Return			1,000.00				1,022.94				0.45				2.29
Global X MSCI SuperDividend® EAFE ETF
Actual Fund Return		$	1,000.00			$	831.30				0.58	%		$	2.68
Hypothetical 5% Return			1,000.00				1,022.28				0.58				2.96
Global X MSCI SuperDividend® Emerging Markets ETF
Actual Fund Return		$	1,000.00			$	776.60				0.68	%		$	3.05
Hypothetical 5% Return			1,000.00				1,021.78				0.68				3.47
Global X SuperDividend® REIT ETF
Actual Fund Return		$	1,000.00			$	857.10				0.59	%		$	2.76
Hypothetical 5% Return			1,000.00				1,022.23				0.59				3.01

 

431

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Disclosure of Fund Expenses (Unaudited) (Continued)

 

Beginning

Ending

Annualized

Expense

Account Value

Account Value

Expense

Paid During

5/1/2022

10/31/2022

Ratios

Period(1)

Global X NASDAQ 100® Covered Call ETF
Actual Fund Return		$	1,000.00			$	889.80				0.61	%		$	2.91
Hypothetical 5% Return			1,000.00				1,022.13				0.61				3.11
Global X S&P 500® Covered Call ETF
Actual Fund Return		$	1,000.00			$	912.80				0.60	%		$	2.89
Hypothetical 5% Return			1,000.00				1,022.18				0.60				3.06
Global X Russell 2000 Covered Call ETF
Actual Fund Return		$	1,000.00			$	939.30				0.59	%		$	2.88
Hypothetical 5% Return			1,000.00				1,022.23				0.59				3.01
Global X Dow 30® Covered Call ETF
Actual Fund Return		$	1,000.00			$	948.30				0.61	%		$	3.00
Hypothetical 5% Return			1,000.00				1,022.13				0.61				3.11
Global X Nasdaq 100® Covered Call & Growth ETF
Actual Fund Return		$	1,000.00			$	890.50				0.61	%		$	2.91
Hypothetical 5% Return			1,000.00				1,022.13				0.61				3.11
Global X S&P 500® Covered Call & Growth ETF
Actual Fund Return		$	1,000.00			$	928.60				0.62	%		$	3.01
Hypothetical 5% Return			1,000.00				1,022.08				0.62				3.16
Global X Russell 2000 Covered Call & Growth ETF
Actual Fund Return		$	1,000.00			$	1,000.00				0.50	%		$	0.45(2	)
Hypothetical 5% Return			1,000.00				1,004.07				0.50				0.45
Global X SuperIncome™ Preferred ETF
Actual Fund Return		$	1,000.00			$	931.10				0.58	%		$	2.82
Hypothetical 5% Return			1,000.00				1,022.28				0.58				2.96
Global X Renewable Energy Producers ETF
Actual Fund Return		$	1,000.00			$	877.20				0.66	%		$	3.12
Hypothetical 5% Return			1,000.00				1,021.88				0.66				3.36
Global X S&P 500® Catholic Values ETF
Actual Fund Return		$	1,000.00			$	938.40				0.29	%		$	1.42
Hypothetical 5% Return			1,000.00				1,023.74				0.29				1.48

 

432

---

Disclosure of Fund Expenses (Unaudited) (Concluded)

 

Beginning

Ending

Annualized

Expense

Account Value

Account Value

Expense

Paid During

5/1/2022

10/31/2022

Ratios

Period(1)

Global X S&P Catholic Values Developed ex-U.S. ETF
Actual Fund Return		$	1,000.00			$	869.60				0.35	%		$	1.65
Hypothetical 5% Return			1,000.00				1,023.44				0.35				1.79
Global X Guru® Index ETF
Actual Fund Return		$	1,000.00			$	903.90				0.75	%		$	3.60
Hypothetical 5% Return			1,000.00				1,021.43				0.75				3.82
Global X S&P 500® Tail Risk ETF
Actual Fund Return		$	1,000.00			$	963.50				0.62	%		$	3.07
Hypothetical 5% Return			1,000.00				1,022.08				0.62				3.16
Global X S&P 500® Risk Managed Income ETF
Actual Fund Return		$	1,000.00			$	917.20				0.65	%		$	3.14
Hypothetical 5% Return			1,000.00				1,021.93				0.65				3.31
Global X S&P 500® Collar 95-110 ETF
Actual Fund Return		$	1,000.00			$	1,002.50				0.66	%		$	3.33
Hypothetical 5% Return			1,000.00				1,021.88				0.66				3.36
Global X NASDAQ 100® Tail Risk ETF
Actual Fund Return		$	1,000.00			$	924.90				0.62	%		$	3.01
Hypothetical 5% Return			1,000.00				1,022.08				0.62				3.16
Global X NASDAQ 100® Risk Managed Income ETF
Actual Fund Return		$	1,000.00			$	919.50				0.64	%		$	3.10
Hypothetical 5% Return			1,000.00				1,021.98				0.64				3.26
Global X NASDAQ 100® Collar 95-110 ETF
Actual Fund Return		$	1,000.00			$	980.00				0.64	%		$	3.19
Hypothetical 5% Return			1,000.00				1,021.98				0.64				3.26

 

(1)	Expenses are equal to the Fund's annualized expense ratio multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).
(2)	Expenses are equal to the Fund's annualized expense ratio multiplied by the average account value over the period, multiplied by 27/365 (to reflect the one-half year period).

433

---

Liquidity Risk Management Program (UNAUDITED)

 

Pursuant to Rule 22e-4 under the 1940 Act, the Funds’ investment adviser has adopted, and the Board has approved, a liquidity risk management program (the “Program”) to govern the Funds’ approach to managing liquidity risk. The Program is overseen by the Funds’ Liquidity Risk Management Committee (the “Committee”), and the Program’s principal objectives include assessing, managing and periodically reviewing each Fund’s liquidity risk, based on factors specific to the circumstances of the Funds.

At a meeting of the Board held on May 20, 2022, the Trustees received a report from the Committee addressing the operations of the Program and assessing its adequacy and effectiveness of implementation for the period from January 1, 2021 through December 31, 2021. The Committee’s report noted that the Committee had determined that the Program is reasonably designed to assess and manage each Fund’s Liquidity Risk and operated adequately and effectively to manage each Fund’s Liquidity Risk for the period covered by the report. The Committee’s report noted that during the period covered by the report, there were no liquidity events that impacted the Funds or their ability to timely meet redemptions without dilution to existing shareholders. The Committee’s report noted that one Fund of the Trust, the Global X Nigeria Fund, was classified as an In-Kind Fund for purposes of Liquidity Reporting. The Committee’s report noted that no other material changes have been made to the Program since its implementation.

There can be no assurance that the Program will achieve its objectives in the future. Please refer to the prospectus for more information regarding a Fund’s exposure to liquidity risk and other principal risks to which an investment in the Funds may be subject.

434

---

Approval of Investment Advisory Agreement (Unaudited)

 

Section 15(c) of the Investment Company Act of 1940, as amended (“1940 Act”), requires that the board of trustees of an exchange-traded fund (“ETF”), including a majority of those trustees who are not “interested persons” of the ETF, as defined in the 1940 Act (“Independent Trustees”), consider on an initial basis and periodically thereafter (as required by the 1940 Act), at an in person meeting called for such purpose, the terms of each ETF’s investment advisory agreement and whether to approve entering into, or renewing, each agreement.

At a Board meeting of the Global X Funds (the “Trust”) held at the office of Global X Management Company LLC, the Trust’s investment adviser (“Global X Management”), on August 10, 2022 (the “New Fund Board Meeting”), the Board of Trustees (the “Board”) (including the Trust’s Independent Trustees, voting separately) considered and unanimously approved (i) the initial Investment Advisory Agreement (“New Investment Advisory Agreement”) for the Global X Russell 2000 Covered Call & Growth ETF (“New Fund”) and (ii) the initial Supervision and Administration Agreement between the Trust (“New Supervision and Administration Agreement”), on behalf of the New Fund, and

Global X Management. The New Investment Advisory Agreement and New Supervision and Administration Agreement are referred to collectively as the “New Fund Agreements.”

In advance of the Board meeting, the Board (including the Trust’s Independent Trustees) and the Independent Trustees’ independent legal counsel requested (in writing) detailed information from Global X Management in connection with the Board’s consideration of the New Fund Agreements and received and reviewed written responses from Global X Management and supporting materials relating to those requests for information. In the course of their consideration of the New Fund Agreements, the Trust’s Independent Trustees were advised by their independent legal counsel and, in addition to meetings with management of Global X Management, the Independent Trustees met separately in executive sessions with their counsel.

In determining to approve the New Fund Agreements for the New Fund, the Board considered a variety of factors, including the factors discussed in greater detail below.

Nature, Extent and Quality of Services

With respect to this factor, the Board considered: 

•	the terms of the New Fund Agreements and the range of services proposed to be provided to the New Funds in accordance with the New Fund Agreements;

•	Global X Management’s key personnel and the portfolio managers who would provide investment advisory, supervision and administrative services to the New Fund;

•

Global X Management’s responsibilities under the New Fund Agreements to, among other things, (i) manage the investment operations of the New Fund and the composition of the New Fund’s assets, including the purchase, retention and disposition of its holdings, (ii) provide quarterly reports to the Trust’s officers and the Board and

435

---

Approval of Investment Advisory Agreement (Unaudited) (Continued)

 

•

other reports as the Board deems necessary or appropriate, (iii) vote proxies, exercise consents, and exercise all other rights appertaining to securities and assets held by the New Fund, (iv) select broker-dealers to execute portfolio transactions for the New Fund when necessary, (v) assist in the preparation and filing of reports and proxy statements (if any) to the shareholders of the New Fund, and the periodic updating of the registration statements, prospectuses, statements of additional information, and other reports and documents for the New Fund that are required to be filed by the Trust with the U.S. Securities and Exchange Commission (“SEC”) and other regulatory or governmental bodies, and (vi) monitor anticipated purchases and redemptions of the shares (including Creation Units) of the New Fund by shareholders and new investors;

•	the nature, extent and quality of all of the services (including advisory, administrative and compliance services) that are proposed to be provided by Global X Management or made available to the New Fund; and

•	the quality of Global X Management’s resources and personnel that would be made available to the New Fund, including Global X Management’s experience and the professional qualifications of Global X Management’s key personnel.

Based on these considerations, the Board concluded, at the New Fund Board Meeting, that it was satisfied with the nature, extent and quality of the services proposed to be provided to the New Fund by Global X Management.

Performance

The Board determined that, because the New Fund had not yet begun investment operations as of the date of the New Fund Board Meeting, meaningful data relating to the investment performance of the New Fund was not available and, therefore, could not be a factor in approving the New Fund Agreements.

Cost of Services and Profitability

With respect to this factor, the Board considered:

•	Global X Management’s expected costs to provide investment management, supervision and administrative and related services to the New Fund;

•

The management fee (including the proposed investment advisory fee) (“Management Fee”) that was proposed to be borne by the New Fund under the New Fund Agreements for the various investment advisory, supervisory and administrative services that the New Fund requires under a unitary fee structure (including the types of fees and

436

---

Approval of Investment Advisory Agreement (Unaudited) (Continued)

 

•	expenses that are not included within the unitary fee and would be borne by the New Fund); and

•	the expected profitability to Global X Management, if any, from all of the services proposed to be provided to the New Fund by Global X Management and all aspects of the relationship between Global X Management and the New Fund.

Based on these considerations, the Board concluded that the proposed Management Fee to be paid by the New Fund to Global X Management, in light of the nature, extent and quality of the services to be provided, was reasonable and in the best interests of the New Fund’s shareholders.

Comparison of Fees and Services

With respect to this factor, the Board considered:

•

comparative information with respect to the proposed Management Fee to be paid to Global X Management by the New Fund. In connection with this consideration, Global X Management provided the Board with comparative expense data for the New Fund, including fees and expenses paid by unaffiliated similar specialized and/ or focused ETFs, and/or other similar registered funds.

•

the structure of the proposed unitary Management Fee (which includes as one component the proposed investment advisory fee for the New Fund) and the expected total expense ratio for the New Fund. In this regard, the Board took into consideration that the purpose of adopting a unitary Management Fee structure for the New Fund was to create a simple, all-inclusive fee that would provide a level of predictability with respect to the overall expense ratio (i.e., the total fees) of the New Fund and that the proposed Management Fee for the New Fund was set at a competitive level to make the New Fund viable in the marketplace; and

•

that, under the proposed unified Management Fee structure, Global X Management would be responsible for most ordinary expenses of the New Fund, including the costs of various third-party services required by the New Fund, including investment advisory, administrative, audit, certain custody, portfolio accounting, legal, transfer agency and printing costs, but that the New Fund would bear other expenses not covered under the proposed all-inclusive Management Fee, such as taxes, brokerage fees, commissions, and other transaction expenses, interest expenses, and extraordinary expenses.

Based on these considerations, the Board concluded, at the New Fund Board Meeting, that the services to be received and the fees to be charged under the New Fund Agreements were reasonable on a comparative basis.

 

437

---

Approval of Investment Advisory Agreement (Unaudited) (Concluded)

 

Based on these considerations, the Board concluded, at the New Fund Board Meeting, that the services to be received and the fees to be charged under the New Fund Agreements were reasonable on a comparative basis.

Economies of Scale

With respect to this factor, the Board considered:

 

•	the extent to which economies of scale would be realized as the New Fund grows and whether the proposed unitary Management Fee for the New Fund reflected these economies of scale;

•	the significant investment of time, personnel and other resources that Global X Management intends to make in the New Fund in order to seek to assure that the New Fund is attractive to investors; and

•	that the proposed unitary Management Fee would provide a high level of certainty as to the total level of expenses for the New Fund and its shareholders.

Based on these considerations, the Board concluded, at the New Fund Board Meeting, that the proposed unitary Management Fee for the New Fund appropriately addressed economies of scale.

Other Benefits

In considering the New Fund Agreements, in addition to the factors discussed above, the

Board considered other benefits that may be realized by Global X Management as a result of its relationships with the New Fund. As a result, the Board concluded that, in the case of the New Fund, in the exercise of the Board’s business judgement, all information the Board considered supported approval of the New Fund Agreements.

Conclusion

After full consideration of the factors above, as well as other factors that were instructive in their consideration, the Board, including all of the Trust’s Independent Trustees voting separately, concluded, in the exercise of its business judgement, that the New Fund Agreements were fair and reasonable and in the best interest of the New Fund.

In reaching this decision, the Board did not assign relative weights to the factors above nor did the Board deem any one factor or group of them to be controlling in and of themselves. Each member of the Board may have assigned different weights to the various factors.

438

---

Supplemental Information (UNAUDITED)

 

NAV is the price per Share at which the Funds issue and redeem Shares. It is calculated in accordance with the standard formula for valuing mutual fund shares. The “Market Price” of the Funds generally is determined using the midpoint between the highest bid and the lowest offer on the stock exchange on which the Shares of the Funds are listed for trading, as of the time that the Funds’ NAV is calculated. The Funds’ Market Price may be at, above or below their NAV. The NAV of the Funds will fluctuate with changes in the market value of the Funds’ holdings. The Market Price of the Funds will fluctuate in accordance with changes in their NAV, as well as market supply and demand.

Premiums or discounts are the differences (expressed as a percentage) between the NAV and Market Price of the Funds on a given day, generally at the time NAV is calculated. A premium is the amount that the Funds are trading above the reported NAV, expressed as a percentage of the NAV. A discount is the amount that the Funds are trading below the reported NAV, expressed as a percentage of the NAV.

Further information regarding premiums and discounts is available on the Funds’ website at www.globalxetfs.com.

439

---

Trustees and Officers of the Trustees (UNAUDITED)

Set forth below are the names, addresses, years of birth, positions with the Trust, Term of Office and Length of Time Served, the principal occupations for the last five years, number of Funds in Trust overseen by the Trustees, and other directorships outside the fund complex of each of the persons currently serving as Trustees and Officers of the Trust.

	Position(s)		Number of Funds in
Name, Address	Held	Principal Occupation(s) During the Past	Trust Overseen by	Other Directorships
(Year of Birth)	with Trust	5 Years	Trustee	Held by Trustees
Independent Trustees1
Charles A. Baker	Trustee (since	Chief Executive Officer of Investment	1072	None.
605 Third Avenue,	07/2018)	Innovations LLC (investment
43rd Floor		consulting) (since 2013); Managing
New York, NY		Director of NYSE Euronext (2003 to
10158		2012).
(1953)
Susan M. Ciccarone	Trustee (since	Partner, Further Global Capital	1072	Director of E78
605 Third Avenue,	09/2019)	Management (private equity) (since		Partners (since 2022);
43rd Floor		2017); formerly Chief Operating Officer		Director of ProSight
New York, NY		(2014-2016) and Chief Financial		Global, Inc. (since
10158		Officer (2012-2016), Emerging Global		2021); Director of
(1973)		Advisors, LLC (ETF issuer).		Casa Holdco LP,
				parent of Celink (since
				2018); Chairman,
				Payment Alliance
				International, Inc.
				(2019-2021).
Clifford J. Weber	Trustee (since	Owner, Financial Products Consulting	1072	Chairman (since
605 Third Avenue,	07/2018)	Group LLC (consulting services to		2017) and Trustee
43rd Floor		financial institutions) (since 2015);		(since 2015) of
New York, NY		formerly, Executive Vice President of		Clough Funds Trust;
10158		Global Index and Exchange-Traded		Chairman and Trustee
(1963)		Products, NYSE Market, Inc., a		of Clayton Street
		subsidiary of Intercontinental Exchange		Trust (since 2016);
		(ETF/ETP listing exchange) (2013-		Chairman and Trustee
		2015).		of Janus Detroit Street
				Trust (since 2016);
				Chairman and Trustee
				of Elevation ETF
				Trust (2016-2018);
				Trustee of Clough
				Global Equity Fund
				(since 2017); Trustee
				of Clough Global
				Dividend and Income
				Fund (since 2017);
				and Trustee of Clough
				Global Opportunities
				Fund (since 2017).

440

---

Trustees and Officers of the Trustees (UNAUDITED)

The Trust’s SAI includes additional information about the Trustees and Officers. The SAI may be obtained without charge by calling 1-888-493-8631. The following chart lists Trustees and Officers as of October 31, 2022.

	Position(s)		Number of Funds in
Name, Address	Held	Principal Occupation(s) During the Past	Trust Overseen by	Other Directorships
(Year of Birth)	with Trust	5 Years	Trustee	Held by Trustees
Interested Trustee/Officers1
Luis Berruga	Trustee (since	Chief Executive Officer, GXMC (since	1072	None.
605 Third Avenue,	07/2018);	07/2018), Chief Financial Officer (since
43rd Floor	President (since	2/2014) and Chief Operating Officer
New York, NY	2018)	(9/2015 - 7/2018); Investment Banker,
10158		Jefferies (2012-2014).
(1977)
John Belanger	Chief Operating	Chief Operating Officer and Head of	N/A	N/A
605 Third Avenue,	Officer and	Portfolio Management & Portfolio
43rd Floor	Chief Financial	Administration, GXMC (since 12/2020);
New York, NY	Officer (since	Portfolio Manager (12/2020-4/2022);
10158	12/2020)	Secretary of the Trust (3/2020-9/2020);
(1982)		Head of Product Management, GXMC
		(since 1/2020); Consultant to GXMC
		(9/2018-12/2019); Chief Operating
		Officer, Rex Shares, LLC (2014-2018).
Susan Lively	Secretary (since	General Counsel, GXMC (since	N/A	N/A
605 Third Avenue,	09/2020)	9/2020); Senior Corporate Counsel
43rd Floor		at Franklin Templeton (previously,
New York, NY		Managing Director and Associate
10158		General Counsel at Legg Mason & Co.,
(1981)		LLC) (2014-2020).
Eric Griffith	Assistant	Counsel, SEI Investments (since	N/A	N/A
One Freedom	Secretary (since	10/2019); Vice President and Assistant
Valley Drive	02/2020)	General Counsel, JPMorgan Chase &
Oaks, PA 19456		Co. (2012-2018).
(1969)
Joe Costello	Chief	Chief Compliance Officer, FlexShares	N/A	N/A
605 Third Avenue,	Compliance	Funds (2011-2015); Vice President,
43rd Floor	Officer (since	Northern Trust Investments (2003 -
New York, NY	09/2016)	2015).
10158
(1974)
Ronnie Riven	Treasurer	Director of Finance, GXMC (since	N/A	N/A
605 Third Avenue,	and Principal	2018); Director of Accounting and
43rd Floor	Accounting	Finance at Barclays Center (2016-2018);
New York, NY	Officer (since	Manager of External Reporting at
10158	12/2020)	National Grid (2013-2015).
(1984)

 

441

---

Trustees and Officers of the Trustees (UNAUDITED)

	Position(s)		Number of Funds in
Name, Address	Held	Principal Occupation(s) During the Past	Trust Overseen by	Other Directorships
(Year of Birth)	with Trust	5 Years	Trustee	Held by Trustees
Interested Trustee/Officers1
Eric Olsen3	Assistant	Director of Accounting, SEI Investment	N/A	N/A
One Freedom	Treasurer (since	Manager Services (March 2021 to
Valley Drive	5/2021)	present); formerly, Deputy Head of Fund
Oaks, PA 19456		Operations, Traditional Assets, Aberdeen
(1970)		Standard Investments (2013-2021).

 

1 Each Trustee serves until his or her successor is duly elected or appointed and qualified.

2 As of October 31, 2022, the Trust had one hundred and seven investment portfolios, ninety-seven of which were operational.

3 This officer of the Trust also serves as an officer of one or more mutual funds for which SEI Investments Company or an affiliate acts as investment manager, administrator or distributor.

 

 

 

442

---

Notice to Shareholders (UNAUDITED)

 

For shareholders that do not have an October 31, 2022 tax year end, this notice is for informational purposes only. For shareholders with an October 31, 2022 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal year ended October 31, 2022, the Funds have designated the following items with regard to distributions paid during the year.

														Qualifying
														for Corporate
														Dividends				Qualifying
		Long-Term				Ordinary Income				Total				Received				Dividend
Return of Capital		Capital Gain				Distributions				Distributions				Deduction(1)				Income(2)
Global X Social Media ETF
100.00%			0.00	%			0.00	%			100.00	%			0.00	%			100.00	%
Global Global X Lithium & Battery Tech ETF
0.00%			0.00	%			100.00	%			100.00	%			48.14	%			100.00	%
Global X Disruptive Materials ETF
0.00%			0.00	%			100.00	%			100.00	%			0.00	%			0.00	%
Global X E-Commerce ETF
7.41%			68.38	%			24.21	%			100.00	%			100.00	%			100.00	%
Global X Emerging Markets Internet & E-commerce ETF
100.00%			0.00	%			0.00	%			100.00	%			0.00	%			0.00	%
Global X SuperDividend® ETF
35.52%			0.00	%			64.48	%			100.00	%			0.17	%			33.07	%
Global X SuperDividend® U.S. ETF
50.09%			0.00	%			49.91	%			100.00	%			68.61	%			68.95	%
Global X MSCI SuperDividend® EAFE ETF
0.00			0.00	%			100.00	%			100.00	%			0.00	%			93.17	%
Global X MSCI SuperDividend® Emerging Markets ETF
19.01%			0.00	%			80.99	%			100.00	%			0.00	%			67.69	%
Global X SuperDividend® REIT ETF
51.71%			0.00	%			48.29	%			100.00	%			0.00	%			0.00	%
Global X NASDAQ 100® Covered Call ETF
81.32%			0.00	%			18.68	%			100.00	%			0.00	%			0.00	%
Global X S&P 500® Covered Call ETF
89.13%			0.00	%			10.87	%			100.00	%			0.00	%			0.00	%
Global X Russell 2000 Covered Call ETF
84.18%			0.00	%			15.82	%			100.00	%			0.00	%			0.00	%
Global X Dow 30® Covered Call ETF
82.38%			0.00	%			17.62	%			100.00	%			0.00	%			0.00	%
Global X Nasdaq 100® Covered Call & Growth ETF
92.31%			0.00	%			7.69	%			100.00	%			0.00	%			0.00	%
Global X S&P 500® Covered Call & Growth ETF
46.79%			0.12	%			53.09	%			100.00	%			0.00	%			0.00	%
Global X Russell 2000 Covered Call & Growth ETF
0.00%			0.00	%			0.00	%			0.00	%			0.00	%			0.00	%
Global X SuperIncome™ Preferred ETF
5.21%			0.00	%			94.79	%			100.00	%			74.04	%			74.03	%
Global X Renewable Energy Producers ETF
0.00%			0.00	%			100.00	%			100.00	%			12.55	%			99.22	%
Global X S&P 500® Catholic Values ETF
0.00%			12.99	%			87.01	%			100.00	%			70.46	%			75.06	%
Global X S&P Catholic Values Developed ex-U.S. ETF
0.00%			6.92	%			93.08	%			100.00	%			0.00	%			82.05	%
Global X Guru® Index ETF
81.26%			0.00	%			18.74	%			100.00	%			100.00	%			100.00	%
Global X S&P 500® Tail Risk ETF
0.00%			4.77	%			95.23	%			100.00	%			0.00	%			0.00	%
Global X S&P 500® Risk Managed Income ETF
88.55%			0.00	%			11.45	%			100.00	%			0.00	%			0.00	%
Global X S&P 500® Collar 95-110 ETF
0.00%			0.58	%			99.42	%			100.00	%			0.00	%			0.00	%
Global X NASDAQ 100® Tail Risk ETF
0.00%			0.00	%			100.00	%			100.00	%			0.00	%			0.00	%
Global X NASDAQ 100® Risk Managed Income ETF
97.80%			0.00	%			2.20	%			100.00	%			0.00	%			0.00	%
Global X NASDAQ 100® Collar 95-110 ETF
0.00%			4.04	%			95.96	%			100.00	%			0.00	%			0.00	%

 

⁽¹⁾ Qualifying dividends represent dividends which qualify for the corporate dividends received deduction and is reflected as a percentage of ordinary income distributions (the total of short term capital gain and net investment income distributions).

443

---

Notice to Shareholders (UNAUDITED)

 

⁽²⁾ The percentage in this column represents the amount of "Qualifying Dividend Income" as created by the Jobs and Growth Relief Reconciliation Act of 2003 and its reflected as a percentage of ordinary income distributions (the total of short term capital gain and net investment income distributions). It is the intention of each of the aforementioned Funds to designate the maximum amount permitted by law.

						Short Term				Qualifying
U.S. Government		Interest Related				Capital Gain				Business				Foreign Tax
Interest(3)		Dividends(4)				Dividends(5)				Income(6)				Credit
Global X Social Media ETF
0.00%			0.00	%			0.00	%			0.00	%			0.00	%
Global X Lithium & Battery Tech ETF
0.00%			0.02	%			0.00	%			0.00	%			0.00	%
Global X Disruptive Materials ETF
0.00%			0.00	%			0.00	%			0.00	%			17.28	%
Global X E-Commerce ETF
0.00%			0.00	%			0.00	%			0.00	%			0.00	%
Global X Emerging Markets Internet & E-commerce ETF
0.00%			0.00	%			0.00	%			0.00	%			0.00	%
Global X SuperDividend® ETF
0.00%			0.01	%			0.00	%			10.71	%			2.00	%
Global X SuperDividend® U.S. ETF
0.00%			0.55	%			0.00	%			70.13	%			0.00	%
Global X MSCI SuperDividend® EAFE ETF
0.00%			0.00	%			0.00	%			0.00	%			7.05	%
Global X MSCI SuperDividend® Emerging Markets ETF
0.00			0.03	%			0.00	%			0.00	%			8.22	%
Global X SuperDividend® REIT ETF
0.00			0.00	%			0.00	%			67.82	%			0.00	%
Global X NASDAQ 100® Covered Call ETF
0.00%			0.03	%			100.00	%			0.00	%			0.00	%
Global X S&P 500® Covered Call ETF
0.00%			0.13	%			100.00	%			0.73	%			0.00	%
Global X Russell 2000 Covered Call ETF
0.00%			0.03	%			100.00	%			0.00	%			0.00	%
Global X Dow 30® Covered Call ETF
0.00%			0.00	%			0.00	%			0.00	%			0.00	%
Global X NASDAQ 100® Covered Call & Growth ETF
0.00%			0.00	%			100.00	%			0.00	%			0.00	%
Global X S&P 500® Covered Call & Growth ETF
0.00%			0.00	%			100.00	%			0.24	%			0.00	%
Global X Russell 2000 Covered Call & Growth ETF
0.00%			0.00	%			0.00	%			0.00	%			0.00	%
Global X SuperIncome™ Preferred ETF
0.00%			0.00	%			0.00	%			3.97	%			0.00	%
Global X Renewable Energy Producers ETF
0.00			0.22	%			0.00	%			0.00	%			12.37	%
Global X S&P 500® Catholic Values ETF
0.00%			0.03	%			0.00	%			3.31	%			0.00	%
Global X S&P Catholic Values Developed ex-U.S. ETF
0.00%			0.00	%			100.00	%			0.00	%			6.64	%
Global X Guru® Index ETF
0.00%			0.32	%			0.00	%			0.00	%			0.00	%
Global X S&P 500® Tail Risk ETF
0.00%			0.00	%			100.00	%			0.35	%			0.00	%
Global X S&P 500® Risk Managed Income ETF
0.00%			0.00	%			100.00	%			0.31	%			0.00	%
Global X S&P 500® Collar 95-110 ETF
0.00%			0.00	%			100.00	%			0.42	%			0.00	%
Global X NASDAQ 100® Tail Risk ETF
0.00%			0.00	%			100.00	%			0.00	%			0.00	%
Global X NASDAQ 100® Risk Managed Income ETF
0.00%			0.00	%			0.00	%			0.00	%			0.00	%
Global X NASDAQ 100® Collar 95-110 ETF
0.00%			0.00	%			100.00	%			0.00	%			0.00	%

 

⁽³⁾ "U.S. Government Interest" represents the amount of interest that was derived from U.S. Government obligations and distributed during the fiscal year. Generally, interest from direct U.S. Government obligations is exempt from state income tax. However, for shareholders who are residents of California, Connecticut and New York, the statutory threshold requirements were not satisfied to permit exemption of these amounts from state income.

444

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Notice to Shareholders (UNAUDITED)

 

⁽⁴⁾ The percentage in this column represents the amount of "Interest Related Dividends" as created by the American Jobs Creation Act of 2004 and is a percentage of net investment income that is exempt from U.S. withholding tax when paid for foreign investors.

⁽⁵⁾ The percentage of this column represents the amount of “Short Term Capital Gain Dividend” and is reflected as a percentage of short term capital gain distribution that is exempted from U.S. withholding tax when paid to foreign investors.

⁽⁶⁾ The percentage of this column represents that amount of ordinary dividend income that qualified for 20% Business Income Deduction.

Certain Funds intend to pass through a foreign tax credit to shareholders. For the fiscal year ended October 31, 2022 the total amount of foreign source income and foreign tax credit are as follows:

			Foreign Source				Foreign Tax Credit
Fund Name			Income				Pass Through
Global X Disruptive Materials ETF		$	83,661			$	9,925
Global X Superdividend® ETF			46,660,747				1,917,262
Global X MSCI SuperDividend® EAFE ETF			821,599				56,262
Global X MSCI SuperDividend® Emerging Markets ETF			4,439,537				544,311
Global X Renewable Energy Producers ETF			1,393,112				174,127
Global X S&P Catholic Values Developed ex-U.S. ETF			163,141				14,486

The information reported herein may differ from the information and distributions taxable to the shareholders for the calendar year ending December 31, 2022. Complete information will be computed and reported in conjunction with your 2022 Form 1099-DIV.

445

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Notes

446

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Notes

447

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605 3rd Avenue, 43rd Floor

New York, NY 10158

1-888-493-8631

www.globalxetfs.com

Investment Adviser and Administrator:

Global X Management Company LLC

605 3rd Avenue, 43rd Floor

New York, NY 10158

Distributor:

SEI Investments Distribution Co.

One Freedom Valley Drive

Oaks, PA 19456

Sub-Administrator:

SEI Investments Global Funds Services

One Freedom Valley Drive

Oaks, PA 19456

Counsel for Global X Funds and the Independent Trustees:

Stradley Ronon Stevens & Young, LLP

2000 K Street, N.W.

Suite 700

Washington, DC 20006

Custodians and Transfer Agents:

Brown Brothers Harriman & Co.

40 Water Street

Boston, MA 02109

The Bank of New York Mellon

500 Grant Street

Pittsburgh, PA 15258

Independent Registered Public Accounting Firm:

PricewaterhouseCoopers LLP

Two Commerce Square

Suite 1800

2001 Market Street

Philadelphia, PA 19103

This information must be preceded or accompanied by a current prospectus for the Funds described.

GLX-AR-003-1200

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