Global X Silver Miners ETF (ticker: SIL)
Global X Gold Explorers ETF (ticker: GOEX)
Global X Copper Miners ETF (ticker: COPX)
Global X Uranium ETF (ticker: URA)





Semi-Annual Report
April 30, 2022




As permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Funds’ (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 Funds’ 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.



Table of Contents
 

Schedules of Investments
  
Global X Silver Miners ETF
1
Global X Gold Explorers ETF
5
Global X Copper Miners ETF
10
Global X Uranium ETF
15
Statements of Assets and Liabilities
20
Statements of Operations
22
Statements of Changes in Net Assets
24
Financial Highlights
27
Notes to Financial Statements
31
Disclosure of Fund Expenses
47
Approval of Investment Advisory Agreement
49
Supplemental Information
54





Shares are bought and sold at market price (not net asset value (“NAV”)) and are not individually redeemed from a Fund. Shares may only be redeemed directly from a Fund by Authorized Participants, in very large creation/redemption units. Brokerage commissions will reduce returns.
The Funds file their complete schedules of Fund holdings with the Securities and Exchange Commission (the “SEC” or “Commission”) for the first and third quarters of each fiscal year as an exhibit to their reports on Form N-PORT. The Funds’ Forms N-PORT are available on the Commission’s website at https://www.sec.gov, and may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.
A description of the policies and procedures that Global X Funds uses to determine how to vote proxies relating to Fund securities, as well as information relating to how the Funds voted proxies relating to Fund securities during the most recent 12-month period ended June 30, is available (i) without charge, upon request, by calling 1-888-493-8631; and (ii) on the Commission’s website at https://www.sec.gov.





Schedule of Investments
  
April 30, 2022 (Unaudited)
 
Global X Silver Miners ETF
  



   
Shares
    
Value
  
COMMON STOCK — 99.7%
            
AUSTRALIA — 1.1%
            
Materials — 1.1%
            
Azure Minerals * (A) 
    
6,326,575
    
$
1,483,676
  
Kingsgate Consolidated * (A) 
    
5,029,048
      
5,128,546
  
Silver Mines * (A) 
    
29,503,878
      
5,032,072
  
                 
TOTAL AUSTRALIA 
            
11,644,294
  
BOSNIA AND HERZEGOVINA — 1.2%
                
Materials — 1.2%
                
Adriatic Metals, Cl CDI * (A) 
    
7,048,936
      
12,673,618
  
                 
BRAZIL — 23.5%
                
Materials — 23.5%
                
Wheaton Precious Metals 
    
5,384,544
      
241,550,644
  
                 
CANADA — 45.1%
                
Materials — 45.1%
                
AbraSilver Resource * (A) 
    
9,401,890
      
3,310,395
  
Aftermath Silver * (A) 
    
1,615,380
      
347,584
  
Alexco Resource * (A) 
    
4,093,178
      
4,461,564
  
Almaden Minerals * 
    
2,756,280
      
816,410
  
Americas Gold & Silver * (A) 
    
4,555,708
      
4,063,618
  
Aurcana Silver * 
    
4,165,024
      
635,484
  
Aya Gold & Silver * (A) 
    
2,438,431
      
15,339,764
  
Bear Creek Mining * 
    
2,907,274
      
2,706,980
  
Blackrock Silver * 
    
1,772,900
      
1,567,526
  




The accompanying notes are an integral part of the financial statements.
1

Schedule of Investments
  
April 30, 2022 (Unaudited)
 
Global X Silver Miners ETF
  


   
Shares
    
Value
  
COMMON STOCK — continued
                
Materials — continued
                
Discovery Silver * (A) 
    
6,293,567
    
$
7,485,014
  
Endeavour Silver * (A) 
    
4,750,075
      
18,002,784
  
First Majestic Silver (A) 
    
4,091,037
      
42,477,259
  
Fortuna Silver Mines * (A) 
    
7,691,886
      
27,022,862
  
GoGold Resources * (A) 
    
7,286,489
      
14,424,175
  
Great Panther Mining * (A) 
    
11,265,896
      
2,365,838
  
IMPACT Silver * (A) 
    
1,529,484
      
496,644
  
MAG Silver * 
    
2,325,913
      
34,468,755
  
McEwen Mining * (A) 
    
10,279,878
      
6,889,574
  
New Pacific Metals * (A) 
    
2,180,589
      
6,978,294
  
Pan American Silver 
    
4,676,952
      
115,848,101
  
Prime Mining * (A) 
    
2,193,784
      
5,201,021
  
Silvercorp Metals (A) 
    
4,511,182
      
13,695,385
  
SilverCrest Metals * 
    
3,721,214
      
28,213,735
  
SSR Mining 
    
4,690,182
      
103,230,906
  
Vizsla Silver * 
    
2,484,922
      
4,005,273
  
                 
TOTAL CANADA 
            
464,054,945
  
MEXICO — 8.2%
                
Materials — 8.2%
                
Fresnillo 
    
4,927,469
      
47,969,359
  
Industrias Penoles 
    
3,312,388
      
36,471,407
  
                 
TOTAL MEXICO 
            
84,440,766
  
PERU — 7.4%
                
Materials — 7.4%
                
Cia de Minas Buenaventura SAA ADR
    
5,314,015
      
50,164,302
  
Hochschild Mining 
    
8,382,407
      
12,418,381
  
Volcan Cia Minera SAA * 
    
61,970,994
      
13,878,920
  
TOTAL PERU 
            
76,461,603
  





The accompanying notes are an integral part of the financial statements.
2

Schedule of Investments
  
April 30, 2022 (Unaudited)
 
Global X Silver Miners ETF
  


   
Shares
    
Value
  
COMMON STOCK — continued
                
RUSSIA — 0.5%
                
Materials — 0.5%
                
Polymetal International 
    
1,638,816
    
$
5,104,711
  
                 
SOUTH KOREA — 5.2%
                
Materials — 5.2%
                
Korea Zinc 
    
117,360
      
53,821,146
  
                 
UNITED KINGDOM — 0.1%
                
Materials — 0.1%
                
Aclara Resources * (A) 
    
1,602,672
      
739,859
  
                 
UNITED STATES — 7.4%
                
Materials — 7.4%
                
Coeur Mining * 
    
6,770,927
      
24,578,465
  
Gatos Silver * 
    
1,195,355
      
4,040,300
  
Gold Resource 
    
2,254,761
      
4,126,213
  
Golden Minerals * (A) 
    
2,748,285
      
1,113,055
  
Hecla Mining 
    
8,136,409
      
42,390,691
  
                 
TOTAL UNITED STATES 
            
76,248,724
  
TOTAL COMMON STOCK
                
(Cost $1,121,672,283) 
            
1,026,740,310
  
                 
SHORT-TERM INVESTMENT(B)(C) — 3.1%
                
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.160%
                
(Cost $31,572,426)  
    
31,572,426
      
31,572,426
  





The accompanying notes are an integral part of the financial statements.
3

Schedule of Investments
  
April 30, 2022 (Unaudited)
 
Global X Silver Miners ETF
  


   
Face Amount
    
Value
  
REPURCHASE AGREEMENT(B) — 2.2%
                
BNP Paribas
                
0.240%, dated 04/29/2022, to be repurchased on 05/02/2022, repurchase price $22,628,757 (collateralized by various U.S. Treasury Obligations, ranging in par value $1,802,088 - $2,423,032, 0.250%, 09/30/2025, with a total market value of $23,066,725)
                
(Cost $22,628,304)  
  
$
22,628,304
    
$
22,628,304
  
TOTAL INVESTMENTS — 105.0%
                
(Cost $1,175,873,013) 
          
$
1,080,941,040
  

Percentages are based on Net Assets of $1,029,231,495.

*
Non-income producing security.
(A)
This security or a partial position of this security is on loan at April 30, 2022.  The total value of securities on loan at April 30, 2022 was $46,662,041.
(B)
Security was purchased with cash collateral held from securities on loan. The total value of such securities as of April 30, 2022 was $54,200,730.
(C)
The rate reported on the Schedule of Investments is the 7-day effective yield as of April 30, 2022.

ADR — American Depositary Receipt
Cl — Class

The following is a summary of the level of inputs used as of April 30, 2022, in valuing the Fund’s investments carried at value:
Investments in Securities
  
Level 1
    
Level 2
    
Level 3
    
Total
  
Common Stock
  
$
1,026,740,310
    
$
—
    
$
—
    
$
1,026,740,310
  
Short-Term Investment
    
31,572,426
      
—
      
—
      
31,572,426
  
Repurchase Agreement
    
—
      
22,628,304
      
—
      
22,628,304
  
Total Investments in Securities
  
$
1,058,312,736
    
$
22,628,304
    
$
—
    
$
1,080,941,040
  

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




The accompanying notes are an integral part of the financial statements.
4

Schedule of Investments
  
April 30, 2022 (Unaudited)
 
Global X Gold Explorers ETF
  


   
Shares
    
Value
  
COMMON STOCK — 100.2%
            
AUSTRALIA — 26.8%
            
Materials — 26.8%
            
Aurelia Metals * 
    
890,184
    
$
284,675
  
Bellevue Gold * 
    
780,989
      
532,810
  
Capricorn Metals * 
    
253,723
      
748,281
  
De Grey Mining * 
    
856,849
      
733,750
  
Firefinch * 
    
866,073
      
689,333
  
Gold Road Resources 
    
658,946
      
728,177
  
Mincor Resources NL * 
    
325,464
      
578,228
  
OceanaGold * 
    
556,042
      
1,392,226
  
Perseus Mining 
    
951,867
      
1,342,744
  
Ramelius Resources 
    
668,994
      
717,886
  
Red 5 * 
    
1,841,591
      
536,579
  
Regis Resources 
    
589,951
      
876,231
  
Silver Lake Resources * 
    
730,839
      
966,031
  
SolGold * 
    
898,372
      
323,707
  
St. Barbara 
    
636,754
      
604,101
  
West African Resources * 
    
746,468
      
721,451
  
Westgold Resources * 
    
362,928
      
421,691
  
                 
TOTAL AUSTRALIA 
            
12,197,901
  
BURKINA FASO — 4.2%
                
Materials — 4.2%
                
Endeavour Mining (A) 
    
77,965
      
1,917,937
  




The accompanying notes are an integral part of the financial statements.
5
Schedule of Investments
  
April 30, 2022 (Unaudited)
 
Global X Gold Explorers ETF
  

   
Shares
    
Value
  
COMMON STOCK — continued
            
CANADA — 39.4%
            
Materials — 39.4%
            
Alamos Gold, Cl A 
    
232,439
    
$
1,815,063
  
B2Gold 
    
425,764
      
1,815,589
  
Dundee Precious Metals (A) 
    
152,186
      
885,931
  
Endeavour Silver * 
    
141,461
      
542,357
  
Equinox Gold * 
    
213,179
      
1,527,890
  
K92 Mining * (A) 
    
170,417
      
1,220,074
  
Karora Resources * 
    
101,521
      
524,266
  
Lundin Gold * 
    
58,468
      
473,490
  
McEwen Mining * (A) 
    
307,820
      
206,301
  
New Gold * 
    
498,371
      
729,200
  
Novagold Resources * 
    
191,174
      
1,189,102
  
Orla Mining * (A) 
    
112,251
      
478,673
  
Osisko Mining * 
    
228,463
      
723,974
  
Sabina Gold & Silver * 
    
305,290
      
315,311
  
Seabridge Gold * 
    
52,337
      
924,271
  
Skeena Resources * 
    
50,403
      
467,728
  
SSR Mining 
    
86,388
      
1,910,195
  
Torex Gold Resources * 
    
67,671
      
761,401
  
Victoria Gold * (A) 
    
24,038
      
263,317
  
Wesdome Gold Mines * 
    
111,918
      
1,148,034
  
                 
TOTAL CANADA 
            
17,922,167
  
EGYPT — 2.2%
                
Materials — 2.2%
                
Centamin 
    
879,817
      
1,011,596
  
                 
INDONESIA — 9.9%
                
Materials — 9.9%
                
Aneka Tambang 
    
6,672,067
      
1,196,618
  
Merdeka Copper Gold * 
    
8,999,326
      
3,290,090
  
                 
TOTAL INDONESIA 
            
4,486,708
  





The accompanying notes are an integral part of the financial statements.
6
Schedule of Investments
  
April 30, 2022 (Unaudited)
 
Global X Gold Explorers ETF
  

   
Shares/Number
of Rights
    
Value
  
COMMON STOCK — continued
                
KYRGYZSTAN — 3.6%
                
Financials — 3.6%
                
Centerra Gold 
    
174,254
    
$
1,621,126
  
                 
PERU — 0.8%
                
Materials — 0.8%
                
Hochschild Mining 
    
250,086
      
370,498
  
                 
TURKEY — 4.0%
                
Materials — 4.0%
                
Eldorado Gold * 
    
144,349
      
1,409,550
  
Koza Altin Isletmeleri * 
    
36,263
      
420,334
  
                 
TOTAL TURKEY 
            
1,829,884
  
UNITED KINGDOM — 1.9%
                
Materials — 1.9%
                
Greatland Gold * 
    
3,054,799
      
510,092
  
Pan African Resources 
    
1,270,801
      
348,613
  
                 
TOTAL UNITED KINGDOM 
            
858,705
  
UNITED STATES — 7.4%
                
Materials — 7.4%
                
Argonaut Gold * 
    
256,251
      
431,078
  
Coeur Mining * 
    
202,040
      
733,405
  
Hecla Mining 
    
421,231
      
2,194,614
  
                 
TOTAL UNITED STATES 
            
3,359,097
  
TOTAL COMMON STOCK
                
(Cost $44,155,180) 
            
45,575,619
  
                 
RIGHTS — 0.0%
                
Canada — 0.0%
                
Great Bear Resources# *(B)(C)(D)
    
46,614
      
—
  
TOTAL RIGHTS (Cost $—) 
            
—
  




The accompanying notes are an integral part of the financial statements.
7
Schedule of Investments
  
April 30, 2022 (Unaudited)
 
Global X Gold Explorers ETF
  

   
Shares/Face
Amount
    
Value
  
SHORT-TERM INVESTMENT(E)(F) — 3.1%
                
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.160%
                
(Cost $1,419,802)  
    
1,419,802
    
$
1,419,802
  
                 
REPURCHASE AGREEMENT(E) — 2.2%
                
BNP Paribas
                
0.240%, dated 04/29/2022, to be repurchased on 05/02/2022, repurchase price $1,018,077 (collateralized by various U.S. Treasury Obligations, ranging in par value $81,077 - $109,013, 0.250%, 09/30/2025, with a total market value of $1,037,780)
                
(Cost $1,018,057)  
  
$
1,018,057
      
1,018,057
  
TOTAL INVESTMENTS — 105.5%
                
(Cost $46,593,039) 
          
$
48,013,478
  

Percentages are based on Net Assets of $45,495,141.

*
Non-income producing security.
#
Expiration unavailable.
(A)
This security or a partial position of this security is on loan at April 30, 2022.  The total value of securities on loan at April 30, 2022 was $2,351,750.
(B)
Level 3 security in accordance with fair value hierarchy.
(C)
Security considered illiquid. The total value of such securities as of April 30, 2022 was $– and represented 0.0% of Net Assets.
(D)
Security is fair valued using methods determined in good faith by the Fair Value Committee of the Fund. The total value of such securities as of April 30, 2022, was $– and represents 0.0% of Net Assets.
(E)
Security was purchased with cash collateral held from securities on loan. The total value of such securities as of April 30, 2022 was $2,437,859.
(F)
The rate reported on the Schedule of Investments is the 7-day effective yield as of April 30, 2022.

Cl — Class



The accompanying notes are an integral part of the financial statements.
8

Schedule of Investments
  
April 30, 2022 (Unaudited)
 
Global X Gold Explorers ETF
  

The following is a summary of the level of inputs used as of April 30, 2022, in valuing the Fund’s investments carried at value:

Investments in Securities
  
Level 1
    
Level 2
    
Level 3(1)
    
Total
  
Common Stock
  
$
41,088,911
    
$
4,486,708
    
$
—
    
$
45,575,619
  
Rights
    
—
      
—
    
—^
      
—
  
Short-Term Investment
    
1,419,802
      
—
      
—
      
1,419,802
  
Repurchase Agreement
    
—
      
1,018,057
      
—
      
1,018,057
  
Total Investments in Securities
  
$
42,508,713
    
$
5,504,765
    
$
—
    
$
48,013,478
  

(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 beginning and/or end of the period in relation to net assets. Management has concluded that Level 3 investments are not material in relation to net assets.

^ Security is fair valued at zero.

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





The accompanying notes are an integral part of the financial statements.
9

Schedule of Investments
  
April 30, 2022 (Unaudited)
 
Global X Copper Miners ETF
  


 
Shares
  
Value
  
COMMON STOCK — 99.7%
        
AUSTRALIA — 17.9%
        
Materials — 17.9%
        
29Metals * 
    
9,863,164
    
$
18,995,121
  
Aeris Resources * (A)(B)(C) 
    
33,447,026
      
2,712,062
  
BHP Group 
    
2,578,595
      
87,977,448
  
Glencore 
    
14,604,253
      
91,182,612
  
OZ Minerals 
    
5,043,874
      
89,610,883
  
Sandfire Resources 
    
8,106,449
      
32,894,499
  
SolGold * (B) 
    
23,231,748
      
8,371,013
  
                 
                 
TOTAL AUSTRALIA 
            
331,743,638
  
BRAZIL — 1.2%
                
Materials — 1.2%
                
ERO Copper * 
    
1,565,856
      
22,629,287
  
                 
                 
CANADA — 17.3%
                
Materials — 17.3%
                
Altius Minerals 
    
788,281
      
13,223,853
  
Capstone Copper * 
    
8,894,742
      
40,713,775
  
Copper Mountain Mining * (B) 
    
3,306,757
      
7,425,682
  
Filo Mining * 
    
1,573,694
      
24,724,992
  
HudBay Minerals 
    
5,362,761
      
34,533,487
  
Ivanhoe Mines, Cl A * 
    
10,502,492
      
84,641,186
  
Northern Dynasty Minerals * (B)
    
8,884,293
      
3,153,924
  
Solaris Resources * (B) 
    
892,837
      
8,976,922
  





The accompanying notes are an integral part of the financial statements.
10
Schedule of Investments
  
April 30, 2022 (Unaudited)
 
Global X Copper Miners ETF
  

 
Shares
  
Value
  
COMMON STOCK — continued
                
Materials — continued
                
Taseko Mines * 
    
5,616,366
    
$
10,839,586
  
Teck Resources, Cl B 
    
2,325,172
      
92,202,744
  
                 
                 
TOTAL CANADA 
            
320,436,151
  
CHILE — 9.5%
                
Materials — 9.5%
                
Antofagasta 
    
4,589,205
      
89,364,180
  
Lundin Mining 
    
9,317,118
      
85,512,926
  
                 
                 
TOTAL CHILE 
            
174,877,106
  
CHINA — 10.9%
                
Materials — 10.9%
                
China Gold International Resources * (B)
    
4,878,100
      
18,496,138
  
China Nonferrous Mining 
    
23,301,600
      
12,057,442
  
Jiangxi Copper, Cl H 
    
22,266,001
      
35,529,570
  
Jinchuan Group International Resources
    
197,410,200
      
25,663,339
  
MMG * 
    
57,299,700
      
24,756,853
  
Zijin Mining Group, Cl H 
    
56,840,660
      
84,759,496
  
                 
                 
TOTAL CHINA 
            
201,262,838
  
CYPRUS — 0.4%
                
Materials — 0.4%
                
Atalaya Mining (B) 
    
1,547,629
      
7,334,965
  
                 
                 
GERMANY — 3.9%
                
Materials — 3.9%
                
Aurubis 
    
622,946
      
71,731,025
  
                 
                 
JAPAN — 7.1%
                
Materials — 7.1%
                
Mitsubishi Materials 
    
2,468,862
      
38,740,325
  
Nittetsu Mining 
    
110,088
      
5,506,099
  
Sumitomo Metal Mining 
    
1,995,927
      
87,364,171
  
                 
                 
TOTAL JAPAN 
            
131,610,595
  





The accompanying notes are an integral part of the financial statements.
11
Schedule of Investments
  
April 30, 2022 (Unaudited)
 
Global X Copper Miners ETF
  

 
Shares
  
Value
  
COMMON STOCK — continued
                
MEXICO — 4.7%
                
Materials — 4.7%
                
Grupo Mexico, Cl B 
    
18,642,650
    
$
87,255,111
  
                 
                 
MONGOLIA — 3.0%
                
Materials — 3.0%
                
Turquoise Hill Resources * 
    
2,036,867
      
55,484,257
  
                 
                 
PERU — 4.6%
                
Materials — 4.6%
                
Southern Copper 
    
1,374,577
      
85,594,910
  
                 
                 
POLAND — 4.5%
                
Materials — 4.5%
                
KGHM Polska Miedz 
    
2,525,032
      
82,477,778
  
                 
                 
SWEDEN — 4.5%
                
Materials — 4.5%
                
Boliden (B) 
    
1,901,745
      
83,733,599
  
                 
                 
TURKEY — 0.3%
                
Industrials — 0.3%
                
Sarkuysan Elektrolitik Bakir 
    
4,649,028
      
5,917,684
  
                 
                 
UNITED KINGDOM — 0.6%
                
Materials — 0.6%
                
Central Asia Metals 
    
3,506,944
      
11,799,887
  
                 
                 
UNITED STATES — 4.5%
                
Materials — 4.5%
                
Freeport-McMoRan 
    
2,040,367
      
82,736,881
  
                 
                 
ZAMBIA — 4.8%
                
Materials — 4.8%
                
First Quantum Minerals 
    
3,087,477
      
88,972,872
  
                 
                 
TOTAL COMMON STOCK
                
(Cost $1,761,152,961) 
            
1,845,598,584
  





The accompanying notes are an integral part of the financial statements.
12
Schedule of Investments
  
April 30, 2022 (Unaudited)
 
Global X Copper Miners ETF
  

 
Shares/Face
Amount
  
Value
  
SHORT-TERM INVESTMENT(D)(E) — 2.7%
                
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.160%
                
(Cost $50,358,540)  
    
50,358,540
    
$
50,358,540
  
                 
REPURCHASE AGREEMENT(D) — 1.9%
                
BNP Paribas
                
0.240%, dated 04/29/2022, to be repurchased on 05/02/2022, repurchase price $36,109,863 (collateralized by various U.S. Treasury Obligations, ranging in par value $2,875,683 - $3,866,556, 0.250%, 09/30/2025, with a total market value of $36,808,751)
                
(Cost $36,109,141)  
  
$
36,109,141
      
36,109,141
  
TOTAL INVESTMENTS — 104.3%
                
(Cost $1,847,620,642) 
          
$
1,932,066,265
  


Percentages are based on Net Assets of $1,852,396,256.
*
Non-income producing security.
(A)
Security is fair valued using methods determined in good faith by the Fair Value Committee of the Fund. The total value of such securities as of April 30, 2022, was $2,712,062 and represents 0.1% of Net Assets.
(B)
This security or a partial position of this security is on loan at April 30, 2022.  The total value of securities on loan at April 30, 2022 was $79,725,876.
(C)
Level 3 security in accordance with fair value hierarchy.
(D)
Security was purchased with cash collateral held from securities on loan. The total value of such securities as of April 30, 2022 was $86,467,681.
(E)
The rate reported on the Schedule of Investments is the 7-day effective yield as of April 30, 2022.

Cl — Class



The accompanying notes are an integral part of the financial statements.
13
Schedule of Investments
  
April 30, 2022 (Unaudited)
 
Global X Copper Miners ETF
  

The following is a summary of the level of inputs used as of April 30, 2022, in valuing the Fund’s investments carried at value:

Investments in Securities
  
Level 1
    
Level 2
    
Level 3(1)
    
Total
  
Common Stock
  
$
1,711,275,927
    
$
131,610,595
    
$
2,712,062
    
$
1,845,598,584
  
Short-Term Investment
    
50,358,540
      
—
      
—
      
50,358,540
  
Repurchase Agreement
    
—
      
36,109,141
      
—
      
36,109,141
  
Total Investments in Securities
  
$
1,761,634,467
    
$
167,719,736
    
$
2,712,062
    
$
1,932,066,265
  

(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 beginning and/or 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.



The accompanying notes are an integral part of the financial statements.
14
Schedule of Investments
  
April 30, 2022 (Unaudited)
 
Global X Uranium ETF
  


   
Shares
    
Value
  
COMMON STOCK — 93.3%
            
AUSTRALIA — 15.2%
            
Energy — 9.0%
            
A-Capital Energy * (A) 
    
48,302,303
    
$
4,462,392
  
Alligator Energy * (A) 
    
143,253,652
      
8,551,484
  
Aura Energy * (A) 
    
13,266,814
      
2,498,440
  
Bannerman Energy * (A) 
    
61,857,745
      
10,550,228
  
Berkeley Energia * (A) 
    
21,894,742
      
6,756,139
  
Boss Energy * (A) 
    
12,690,222
      
24,259,287
  
Deep Yellow * (A) 
    
17,943,309
      
12,050,106
  
Elevate Uranium * (A) 
    
11,920,213
      
5,336,802
  
Paladin Energy * 
    
130,843,492
      
76,246,954
  
Peninsula Energy * (A) 
    
49,548,419
      
8,274,737
  
Vimy Resources * (A) 
    
48,285,522
      
8,406,971
  
             
167,393,540
  
                 
                 
Financials — 1.9%
                
Macquarie Group 
    
241,318
      
35,495,608
  
                 
                 
Materials — 4.3%
                
BHP Group (A) 
    
1,068,482
      
36,454,860
  





The accompanying notes are an integral part of the financial statements.
15
Schedule of Investments
  
April 30, 2022 (Unaudited)
 
Global X Uranium ETF
  

   
Shares
    
Value
  
COMMON STOCK — continued
            
Materials — continued
            
Lotus Resources * (A) 
    
33,214,573
    
$
8,143,372
  
Rio Tinto 
    
488,926
      
35,025,885
  
             
79,624,117
  
                 
                 
TOTAL AUSTRALIA 
            
282,513,265
  
CANADA — 41.4%
                
Energy — 37.6%
                
Cameco (A) 
    
17,902,402
      
464,631,802
  
Denison Mines * (A) 
    
43,449,714
      
56,434,823
  
Fission Uranium * (A) 
    
29,573,839
      
20,131,638
  
Forsys Metals * (A) 
    
6,163,214
      
3,182,756
  
GoviEx Uranium, Cl A * (A) 
    
23,322,865
      
6,660,808
  
IsoEnergy * (A) 
    
2,735,666
      
8,690,430
  
Laramide Resources * (A) 
    
8,823,956
      
4,349,667
  
Mega Uranium * 
    
16,673,007
      
4,305,068
  
NexGen Energy * 
    
21,075,473
      
104,383,822
  
Skyharbour Resources * 
    
6,580,704
      
2,574,510
  
UEX * (A) 
    
26,192,877
      
6,968,098
  
Uranium Royalty * (A) 
    
3,992,767
      
13,277,461
  
Western Uranium & Vanadium * (A)
    
1,669,507
      
2,272,949
  
             
697,863,832
  
                 
                 
Industrials — 1.7%
                
Aecon Group 
    
2,647,935
      
31,015,678
  
                 
                 
Materials — 2.1%
                
Encore Energy * (A) 
    
14,354,730
      
15,836,758
  
Global Atomic * (A) 
    
8,124,579
      
23,012,383
  
             
38,849,141
  
                 
                 
TOTAL CANADA 
            
767,728,651
  
CHINA — 2.4%
                
Energy — 0.5%
                
CGN Mining * 
    
99,742,900
      
9,915,622
  
                 
                 





The accompanying notes are an integral part of the financial statements.
16
Schedule of Investments
  
April 30, 2022 (Unaudited)
 
Global X Uranium ETF
  

   
Shares
    
Value
  
COMMON STOCK — continued
            
Utilities — 1.9%
            
CGN Power, Cl H 
    
122,767,786
    
$
34,736,079
  
                 
                 
TOTAL CHINA 
            
44,651,701
  
JAPAN — 6.3%
                
Industrials — 6.3%
                
ITOCHU 
    
1,163,388
      
35,307,515
  
Mitsubishi Heavy Industries 
    
1,282,523
      
43,902,358
  
Sumitomo 
    
2,348,382
      
37,366,390
  
                 
                 
TOTAL JAPAN 
            
116,576,263
  
KAZAKHSTAN — 5.5%
                
Energy — 5.5%
                
NAC Kazatomprom JSC GDR 
    
3,504,461
      
101,839,637
  
                 
                 
SOUTH AFRICA — 1.9%
                
Materials — 1.9%
                
Sibanye Stillwater 
    
9,757,967
      
34,420,105
  
                 
                 
SOUTH KOREA — 9.5%
                
Industrials — 9.5%
                
Daewoo Engineering & Construction *
    
7,233,303
      
38,988,424
  
Doosan Enerbility * 
    
2,139,538
      
35,091,149
  
GS Engineering & Construction
    
1,002,627
      
33,567,249
  
Hyundai Engineering & Construction
    
961,395
      
34,100,436
  
Samsung C&T 
    
369,143
      
33,945,873
  
                 
                 
TOTAL SOUTH KOREA 
            
175,693,131
  
UNITED KINGDOM — 2.7%
                
Industrials — 2.7%
                
Yellow Cake * 
    
9,986,147
      
49,723,866
  
                 
                 
UNITED STATES — 8.4%
                
Energy — 8.4%
                
Centrus Energy, Cl A * 
    
597,417
      
16,584,296
  
Energy Fuels * (A) 
    
8,287,027
      
62,766,262
  





The accompanying notes are an integral part of the financial statements.
17
Schedule of Investments
  
April 30, 2022 (Unaudited)
 
Global X Uranium ETF
  

   
Shares/Face
Amount
    
Value
  
COMMON STOCK — continued
            
Energy — continued
            
Uranium Energy * (A) 
    
14,220,596
    
$
60,437,533
  
Ur-Energy * 
    
11,195,617
      
15,449,952
  
                 
                 
TOTAL UNITED STATES 
            
155,238,043
  
TOTAL COMMON STOCK
                
(Cost $1,572,927,662) 
            
1,728,384,662
  
                 
EXCHANGE TRADED FUND — 6.7%
                
Sprott Physical Uranium Trust * (A)
                
(Cost $111,212,679)  
    
9,414,235
      
124,486,969
  
                 
SHORT-TERM INVESTMENT(B)(C) — 5.4%
                
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.160%
                
(Cost $100,846,010)  
    
100,846,010
      
100,846,010
  
                 
REPURCHASE AGREEMENT(B) — 3.9%
                
BNP Paribas
                
0.240%, dated 04/29/2022, to be repurchased on 05/02/2022, repurchase price $72,427,222 (collateralized by various U.S. Treasury Obligations, ranging in par value $5,767,891 - $7,755,329, 0.250%, 09/30/2025, with a total market value of $73,829,005)
                
(Cost $72,425,773)  
  
$
72,425,773
      
72,425,773
  
TOTAL INVESTMENTS — 109.3%
                
(Cost $1,857,412,124) 
          
$
2,026,143,414
  


Percentages are based on Net Assets of $1,854,014,716.





The accompanying notes are an integral part of the financial statements.
18
Schedule of Investments
  
April 30, 2022 (Unaudited)
 
Global X Uranium ETF
  

*
Non-income producing security.
(A)
This security or a partial position of this security is on loan at April 30, 2022.  The total value of securities on loan at April 30, 2022 was $157,349,267.
(B)
Security was purchased with cash collateral held from securities on loan. The total value of such securities as of April 30, 2022 was $173,271,783.
(C)
The rate reported on the Schedule of Investments is the 7-day effective yield as of April 30, 2022.

Cl — Class
GDR — Global Depositary Receipt
JSC — Joint Stock Company

The following is a summary of the level of inputs used as of April 30, 2022, in valuing the Fund’s investments carried at value:

Investments in Securities
  
Level 1
    
Level 2
    
Level 3
    
Total
  
Common Stock
  
$
1,611,808,399
    
$
116,576,263
    
$
—
    
$
1,728,384,662
  
Exchange Traded Fund
    
124,486,969
      
—
      
—
      
124,486,969
  
Short-Term Investment
    
100,846,010
      
—
      
—
      
100,846,010
  
Repurchase Agreement
    
—
      
72,425,773
      
—
      
72,425,773
  
Total Investments in Securities
  
$
1,837,141,378
    
$
189,002,036
    
$
—
    
$
2,026,143,414
  

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





The accompanying notes are an integral part of the financial statements.
19

 
Statements of Assets and Liabilities
  
 
April 30, 2022 (Unaudited)
  

   
Global X Silver
Miners ETF
    
Global X Gold Explorers ETF
    
Global X Copper Miners ETF
  
Assets:
                  
Cost of Investments
  
$
1,153,244,709
    
$
45,574,982
    
$
1,811,511,501
  
Cost of Repurchase Agreement
    
22,628,304
      
1,018,057
      
36,109,141
  
Cost of Foreign Currency
    
2,606
      
1,132
      
59,280
  
Investments, at Value
  
$
1,058,312,736
*
  
$
46,995,421
*
  
$
1,895,957,124
*
Repurchase Agreement, at Value
    
22,628,304
      
1,018,057
      
36,109,141
  
Cash
    
1,519,194
      
—
      
1,813,958
  
Foreign Currency, at Value
    
2,606
      
1,153
      
58,413
  
Receivable for Investment Securities Sold
    
86,046,060
      
4,168,166
      
98,032,024
  
Dividend, Interest, and Securities Lending Income Receivable
    
1,540,673
      
7,508
      
12,270,909
  
Unrealized Appreciation on Spot Contracts
    
—
      
681
      
—
  
Receivable for Capital Shares Sold
    
—
      
—
      
8,085,860
  
Reclaim Receivable
    
6,247
      
—
      
470,498
  
Total Assets
    
1,170,055,820
      
52,190,986
      
2,052,797,927
  
Liabilities:
                        
Obligation to Return Securities Lending Collateral
    
54,200,730
      
2,437,859
      
86,467,681
  
Payable for Investment Securities Purchased
    
84,672,782
      
4,208,426
      
112,786,668
  
Payable for Capital Shares Redeemed
    
1,334,728
      
—
      
—
  
Payable due to Investment Adviser
    
603,809
      
26,404
      
1,056,078
  
Unrealized Depreciation on Spot Contracts
    
11,890
      
—
      
87,003
  
Custodian Fees Payable
    
386
      
6
      
4,241
  
Cash Overdraft
    
—
      
23,150
      
—
  
Total Liabilities
    
140,824,325
      
6,695,845
      
200,401,671
  
Net Assets
  
$
1,029,231,495
    
$
45,495,141
    
$
1,852,396,256
  
Net Assets Consist of:
                        
Paid-in Capital
  
$
1,616,998,325
    
$
109,619,051
    
$
1,763,185,813
  
Total Distributable Earnings/(Loss)
    
(587,766,830
)
    
(64,123,910
)
    
89,210,443
  
Net Assets
  
$
1,029,231,495
    
$
45,495,141
    
$
1,852,396,256
  
Outstanding Shares of Beneficial Interest
                        
(unlimited authorization — no par value)
    
31,117,318
      
1,482,054
      
45,819,374
  
Net Asset Value, Offering and Redemption Price Per Share
  
$
33.08
    
$
30.70
    
$
40.43
  
*Includes Market Value of Securities on Loan
  
$
46,662,041
    
$
2,351,750
    
$
79,725,876
  






The accompanying notes are an integral part of the financial statements.
20
 
Statements of Assets and Liabilities
  
 
April 30, 2022 (Unaudited)
  

   
Global X Uranium
ETF
  
Assets:
      
Cost of Investments
  
$
1,784,986,351
  
Cost of Repurchase Agreement
    
72,425,773
  
Cost of Foreign Currency
    
656,749
  
Investments, at Value
  
$
1,953,717,641
*
Repurchase Agreement, at Value
    
72,425,773
  
Foreign Currency, at Value
    
614,998
  
Dividend, Interest, and Securities Lending Income Receivable
    
2,087,831
  
Total Assets
    
2,028,846,243
  
Liabilities:
        
Obligation to Return Securities Lending Collateral
    
173,271,783
  
Payable due to Investment Adviser
    
1,150,564
  
Cash Overdraft
    
404,802
  
Custodian Fees Payable
    
4,378
  
Total Liabilities
    
174,831,527
  
Net Assets
  
$
1,854,014,716
  
Net Assets Consist of:
        
Paid-in Capital
  
$
2,275,947,557
  
Total Distributable Loss
    
(421,932,841
)
Net Assets
  
$
1,854,014,716
  
Outstanding Shares of Beneficial Interest
        
(unlimited authorization — no par value)
    
78,921,666
  
Net Asset Value, Offering and Redemption Price Per Share
  
$
23.49
  
*Includes Market Value of Securities on Loan
  
$
157,349,267
  





The accompanying notes are an integral part of the financial statements.
21
 
Statements of Operations
  
 
For the period ended April 30, 2022 (Unaudited)
  

   
Global X Silver
Miners ETF
    
Global X Gold Explorers ETF
    
Global X Copper Miners ETF
  
Investment Income:
                  
Dividend Income
  
$
8,384,933
    
$
202,233
    
$
28,862,988
  
Interest Income
    
19
      
—
      
—
  
Security Lending Income
    
662,663
      
40,962
      
187,902
  
Less: Foreign Taxes Withheld
    
(945,865
)
    
(15,495
)
    
(2,040,719
)
Total Investment Income
    
8,101,750
      
227,700
      
27,010,171
  
Supervision and Administration Fees(1)
    
3,449,589
      
158,116
      
5,295,061
  
Custodian Fees(2)
    
5,477
      
2,301
      
6,117
  
Total Expenses
    
3,455,066
      
160,417
      
5,301,178
  
Net Investment Income
    
4,646,684
      
67,283
      
21,708,993
  
Net Realized Gain (Loss) on:
                        
Investments(3)
    
(102,584,810
)
    
1,734,040
      
34,642,349
  
Foreign Currency Transactions
    
(145,237
)
    
17,033
      
159,408
  
Net Realized Gain (Loss) on Investments, Foreign Currency Transactions
    
(102,730,047
)
    
1,751,073
      
34,801,757
  
Net Change in Unrealized Appreciation (Depreciation) on:
                        
Investments
    
(66,222,229
)
    
513,744
      
119,518,721
  
Foreign Currency Translations
    
(27,493
)
    
312
      
(346,696
)
Net Change in Unrealized Appreciation (Depreciation) on Investments, Foreign Currency Translations
    
(66,249,722
)
    
514,056
      
119,172,025
  
Net Realized and Unrealized Gain (Loss) on Investments, Foreign Currency Translations
    
(168,979,769
)
    
2,265,129
      
153,973,782
  
Net Increase (Decrease) in Net Assets Resulting from Operations
  
$
(164,333,085
)
  
$
2,332,412
    
$
175,682,775
  

(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 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.
22

 
Statements of Operations
  
 
For the period ended April 30, 2022 (Unaudited)
  

   
Global X
Uranium ETF
  
Investment Income:
      
Dividend Income
  
$
9,553,955
  
Interest Income
    
72
  
Security Lending Income
    
1,505,796
  
Less: Foreign Taxes Withheld
    
(1,016,683
)
Total Investment Income
    
10,043,140
  
Supervision and Administration Fees(1)
    
5,058,712
  
Custodian Fees(2)
    
7,070
  
Total Expenses
    
5,065,782
  
Net Investment Income
    
4,977,358
  
Net Realized Gain (Loss) on:
        
Investments(3)
    
(62,045,795
)
Foreign Currency Transactions
    
60,764
  
Net Realized Loss on Investments, Foreign Currency Transactions
    
(61,985,031
)
Net Change in Unrealized Depreciation on:
        
Investments
    
(103,577,594
)
Foreign Currency Translations
    
(139,337
)
Net Change in Unrealized Depreciation on Investments, Foreign Currency Translations
    
(103,716,931
)
Net Realized and Unrealized Loss on Investments, Foreign Currency Translations
    
(165,701,962
)
Net Decrease in Net Assets Resulting from Operations
  
$
(160,724,604
)

(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 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.
23
 
Statements of Changes in Net Assets
  
     

   
Global X Silver Miners ETF
    
Global X Gold Explorers ETF
  
   
Period Ended April 30, 2022
(Unaudited)
    
Year Ended October 31, 2021
    
Period Ended April 30, 2022
(Unaudited)
    
Year Ended October 31, 2021
  
Operations:
                        
Net Investment Income
  
$
4,646,684
    
$
11,414,236
    
$
67,283
    
$
341,661
  
Net Realized Gain (Loss) on Investments, Foreign Currency Transactions (1)
    
(102,730,047
)
    
79,366,405
      
1,751,073
      
6,719,405
  
Net Change in Unrealized Appreciation (Depreciation) on Investments, Foreign Currency Translations
    
(66,249,722
)
    
(219,907,736
)
    
514,056
      
(12,421,306
)
Net Increase (Decrease) in Net Assets Resulting from Operations
    
(164,333,085
)
    
(129,127,095
)
    
2,332,412
      
(5,360,240
)
Distributions
    
(11,576,306
)
    
(24,128,587
)
    
(894,643
)
    
(1,872,117
)
Capital Share Transactions:
                                
Issued
    
142,228,516
      
521,822,116
      
—
      
13,363,058
  
Reinvestment of Distributions
    
38,024
      
—
      
—
      
—
  
Redeemed
    
(37,316,993
)
    
(253,367,779
)
    
(5,664,979
)
    
(17,078,187
)
Increase (Decrease) in Net Assets from Capital Share Transactions
    
104,949,547
      
268,454,337
      
(5,664,979
)
    
(3,715,129
)
Total Increase (Decrease) in Net Assets
    
(70,959,844
)
    
115,198,655
      
(4,227,210
)
    
(10,947,486
)
Net Assets:
                                
Beginning of Year/Period
    
1,100,191,339
      
984,992,684
      
49,722,351
      
60,669,837
  
End of Year/Period
  
$
1,029,231,495
    
$
1,100,191,339
    
$
45,495,141
    
$
49,722,351
  
Share Transactions:
                                
Issued
    
3,790,000
      
11,290,000
      
—
      
380,000
  
Redeemed
    
(1,040,000
)
    
(6,220,000
)
    
(170,000
)
    
(540,000
)
Net Increase (Decrease) in Shares Outstanding from Share Transactions
    
2,750,000
      
5,070,000
      
(170,000
)
    
(160,000
)

(1)
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.
24
 
Statements of Changes in Net Assets