Global X MSCI China Energy ETF (ticker: CHIE)
Global X MSCI China Materials ETF (ticker: CHIM)
Global X MSCI China Industrials ETF (ticker: CHII)
Global X MSCI China Consumer Discretionary ETF (ticker: CHIQ)
Global X MSCI China Consumer Staples ETF (ticker: CHIS)
Global X MSCI China Health Care ETF (ticker: CHIH)
Global X MSCI China Financials ETF (ticker: CHIX)
Global X MSCI China Information Technology ETF (ticker: CHIK)
Global X MSCI China Communication Services ETF (ticker: CHIC)
Global X MSCI China Utilities ETF (ticker: CHIU)
Global X MSCI China Real Estate ETF (ticker: CHIR)
Global X MSCI Greece ETF (ticker: GREK)
Global X DAX Germany ETF (ticker: DAX)
Global X MSCI Portugal ETF (ticker: PGAL)
Global X MSCI Colombia ETF (ticker: GXG)
Global X MSCI Argentina ETF (ticker: ARGT)
Global X MSCI Pakistan ETF (ticker: PAK)
Global X MSCI Nigeria ETF (ticker: NGE)
Global X MSCI Vietnam ETF (ticker: VNAM)
Global X MSCI Next Emerging & Frontier ETF (ticker: EMFM)
Global X MSCI Norway ETF (ticker: NORW)
Global X FTSE Southeast Asia ETF (ticker: ASEA)


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 MSCI China Energy ETF
1
Global X MSCI China Materials ETF
3
Global X MSCI China Industrials ETF
8
Global X MSCI China Consumer Discretionary ETF
13
Global X MSCI China Consumer Staples ETF
17
Global X MSCI China Health Care ETF
20
Global X MSCI China Financials ETF
24
Global X MSCI China Information Technology ETF
28
Global X MSCI China Communication Services ETF
34
Global X MSCI China Utilities ETF
37
Global X MSCI China Real Estate ETF
39
Global X MSCI Greece ETF
42
Global X DAX Germany ETF
45
Global X MSCI Portugal ETF
49
Global X MSCI Colombia ETF
53
Global X MSCI Argentina ETF
57
Global X MSCI Pakistan ETF
61
Global X MSCI Nigeria ETF
64
Global X MSCI Vietnam ETF
67
Global X MSCI Next Emerging & Frontier ETF
71
Global X MSCI Norway ETF
86
Global X FTSE Southeast Asia ETF
91
Statements of Assets and Liabilities
96
Statements of Operations
102
Statements of Changes in Net Assets
108
Financial Highlights
119
Notes to Financial Statements
135
Disclosure of Fund Expenses
164
Approval of Investment Advisory Agreement
168
Supplemental Information
176



Shares are bought and sold at market price (not 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 its 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 MSCI China Energy ETF
 


   
Shares
   
Value
 
COMMON STOCK — 99.4%
           
AUSTRALIA — 4.8%
           
Energy — 4.8%
           
Woodside Petroleum
   
9,154
   
$
202,640
 
                 
                 
CHINA — 94.6%
               
Energy — 94.6%
               
CGN Mining
   
1,497,200
     
148,839
 
China Coal Energy, Cl H
   
246,500
     
210,178
 
China Oilfield Services, Cl H
   
282,186
     
293,114
 
China Petroleum & Chemical, Cl A
   
23,050
     
15,062
 
China Petroleum & Chemical, Cl H
   
647,697
     
321,118
 
China Shenhua Energy, Cl A
   
3,900
     
18,074
 
China Shenhua Energy, Cl H
   
118,955
     
383,572
 
China Suntien Green Energy, Cl H
   
291,600
     
166,498
 
COSCO SHIPPING Energy Transportation, Cl A
   
163,600
     
194,348
 
Guanghui Energy, Cl A
   
166,150
     
221,643
 
Inner Mongolia Yitai Coal, Cl B
   
182,694
     
246,272
 
Offshore Oil Engineering, Cl A
   
203,775
     
125,486
 
PetroChina, Cl A
   
16,300
     
13,204
 
PetroChina, Cl H
   
638,863
     
309,410
 
Shaanxi Coal Industry, Cl A
   
79,886
     
207,001
 
Shanxi Coking Coal Energy Group, Cl A
   
114,253
     
241,349
 
Shanxi Lu’an Environmental Energy Development, Cl A
   
85,465
     
199,324
 
Sinopec Kantons Holdings
   
417,700
     
143,206
 
Yankuang Energy Group, Cl A
   
12,804
     
66,953
 
Yankuang Energy Group, Cl H
   
118,275
     
337,664
 

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

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Energy ETF
 


   
Shares/Face Amount
   
Value
 
COMMON STOCK — continued
           
Energy — continued
           
Yantai Jereh Oilfield Services Group, Cl A
   
24,910
   
$
116,717
 
                 
                 
TOTAL CHINA
           
3,979,032
 
TOTAL COMMON STOCK
               
(Cost $3,402,211)
           
4,181,672
 
                 
U.S. TREASURY OBLIGATION — 9.5%
               
U.S. Treasury Bill
               
0.010%, 05/03/22(A)
               
(Cost $400,000)
 
$
400,000
     
399,999
 
TOTAL INVESTMENTS — 108.9%
               
(Cost $3,802,211)
         
$
4,581,671
 


Percentages are based on Net Assets of $4,206,093.

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


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
 
$
4,181,672
   
$
   
$
   
$
4,181,672
 
U.S. Treasury Obligation
   
     
399,999
     
     
399,999
 
Total Investments in Securities
 
$
4,181,672
   
$
399,999
   
$
   
$
4,581,671
 


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



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

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Materials ETF
 

   
Shares
   
Value
 
COMMON STOCK — 100.1%
           
CHINA — 97.4%
           
Materials — 97.4%
           
Aluminum Corp of China, Cl A
   
52,100
   
$
37,339
 
Aluminum Corp of China, Cl H
   
225,339
     
107,699
 
Anhui Conch Cement, Cl A
   
11,200
     
67,385
 
Anhui Conch Cement, Cl H
   
65,170
     
356,327
 
Anhui Honglu Steel Construction Group, Cl A
   
1,300
     
7,099
 
Baoshan Iron & Steel, Cl A
   
79,300
     
77,130
 
BBMG, Cl A
   
47,800
     
20,151
 
Beijing Easpring Material Technology, Cl A
   
850
     
8,572
 
Chengtun Mining Group, Cl A
   
6,800
     
7,146
 
Chengxin Lithium Group, Cl A
   
1,300
     
8,689
 
Chifeng Jilong Gold Mining, Cl A *
   
4,800
     
13,269
 
China Hongqiao Group
   
129,000
     
164,247
 
China Jushi, Cl A
   
16,659
     
39,455
 
China Minmetals Rare Earth, Cl A
   
1,900
     
6,614
 
China Molybdenum, Cl A
   
67,500
     
47,563
 
China Molybdenum, Cl H
   
195,854
     
99,598
 
China National Building Material, Cl H
   
226,000
     
304,169
 
China Northern Rare Earth Group High-Tech, Cl A
   
13,000
     
62,008
 
China Resources Cement Holdings
   
140,100
     
116,956
 
CNGR Advanced Material, Cl A
   
700
     
8,834
 
CNNC Hua Yuan Titanium Dioxide, Cl A
   
6,600
     
7,284
 
Do-Fluoride New Materials, Cl A
   
1,625
     
7,756
 
Dongyue Group
   
68,600
     
82,623
 
Ganfeng Lithium, Cl A
   
4,100
     
68,318
 
Ganfeng Lithium, Cl H
   
14,500
     
177,042
 
GEM, Cl A
   
21,000
     
21,342
 


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

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Materials ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
           
Materials — continued
           
Guangzhou Tinci Materials Technology, Cl A
   
2,580
   
$
29,103
 
Hangzhou Oxygen Plant Group, Cl A
   
2,700
     
10,606
 
Hengli Petrochemical, Cl A
   
21,020
     
66,304
 
Hengyi Petrochemical, Cl A
   
17,800
     
20,422
 
Hesteel, Cl A
   
58,700
     
20,593
 
Hoshine Silicon Industry, Cl A
   
750
     
8,971
 
Huafon Chemical, Cl A
   
7,500
     
8,808
 
Huaxin Cement, Cl A
   
6,950
     
22,812
 
Hubei Xingfa Chemicals Group, Cl A
   
2,000
     
9,660
 
Hunan Valin Steel, Cl A
   
29,700
     
26,115
 
Inner Mongolia BaoTou Steel Union, Cl A
   
170,300
     
48,205
 
Inner Mongolia Junzheng Energy & Chemical Industry Group, Cl A
   
39,200
     
25,792
 
Inner Mongolia Yuan Xing Energy, Cl A
   
7,700
     
9,878
 
Jiangsu Eastern Shenghong, Cl A
   
7,800
     
14,386
 
Jiangsu Yangnong Chemical, Cl A
   
1,500
     
29,611
 
Jiangsu Yoke Technology, Cl A
   
1,000
     
6,778
 
Jiangxi Copper, Cl A
   
9,300
     
24,672
 
Jiangxi Copper, Cl H
   
64,591
     
103,067
 
Kingfa Sci & Tech, Cl A
   
7,700
     
9,599
 
LB Group, Cl A
   
10,000
     
27,553
 
Lee & Man Paper Manufacturing
   
83,700
     
40,324
 
Luxi Chemical Group, Cl A (A)(B)(C)
   
6,200
     
16,990
 
MMG *
   
145,800
     
62,994
 
Ningbo Shanshan, Cl A
   
4,100
     
13,673
 
Ningxia Baofeng Energy Group, Cl A
   
14,300
     
30,358
 
Pangang Group Vanadium Titanium & Resources, Cl A *
   
45,400
     
21,259
 
Real Gold Mining *(A)(B)(C)
   
97,864
     
 
Rongsheng Petrochemical, Cl A
   
35,400
     
73,127
 
Satellite Chemical, Cl A
   
3,580
     
19,426
 
Shandong Gold Mining, Cl A
   
15,120
     
43,618
 
Shandong Gold Mining, Cl H
   
38,200
     
70,595
 


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

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Materials ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
           
Materials — continued
           
Shandong Hualu Hengsheng Chemical, Cl A
   
8,520
   
$
38,741
 
Shandong Nanshan Aluminum, Cl A
   
52,400
     
25,720
 
Shandong Sun Paper Industry JSC, Cl A
   
14,200
     
26,340
 
Shanghai Putailai New Energy Technology, Cl A
   
2,590
     
46,304
 
Shanxi Meijin Energy, Cl A
   
7,700
     
12,115
 
Shanxi Taigang Stainless Steel, Cl A
   
27,600
     
24,726
 
Shenghe Resources Holding, Cl A
   
4,300
     
10,197
 
Shenzhen Capchem Technology, Cl A
   
900
     
9,060
 
Shenzhen Senior Technology Material, Cl A
   
3,000
     
9,594
 
Sichuan Hebang Biotechnology
   
17,400
     
8,279
 
Sichuan Yahua Industrial Group, Cl A
   
2,900
     
11,597
 
Sinoma Science & Technology, Cl A
   
3,700
     
11,326
 
Sinopec Shanghai Petrochemical, Cl A
   
33,100
     
15,499
 
Skshu Paint, Cl A
   
893
     
9,982
 
Suzhou TA&A Ultra Clean Technology, Cl A
   
875
     
8,060
 
Tianshan Aluminum Group, Cl A
   
7,700
     
7,965
 
Tibet Summit Resources, Cl A *
   
2,275
     
6,710
 
Tongkun Group, Cl A
   
10,600
     
24,243
 
Tongling Nonferrous Metals Group, Cl A
   
51,000
     
26,876
 
Transfar Zhilian, Cl A
   
16,600
     
15,846
 
Wanhua Chemical Group, Cl A
   
10,722
     
125,677
 
Weihai Guangwei Composites, Cl A
   
2,400
     
17,999
 
Western Superconducting Technologies, Cl A
   
896
     
11,062
 
Xiamen Tungsten, Cl A
   
6,800
     
16,136
 
Xinjiang Zhongtai Chemical, Cl A
   
6,925
     
7,705
 
Yintai Gold, Cl A
   
15,020
     
21,054
 
YongXing Special Materials Technology,  Cl A
   
675
     
10,579
 
Youngy, Cl A *
   
675
     
10,604
 
Yunnan Aluminium, Cl A
   
5,400
     
8,545
 
Yunnan Energy New Material, Cl A
   
3,100
     
94,726
 
Yunnan Tin, Cl A
   
3,300
     
8,904
 


The accompanying notes are an integral part of the financial statements.
5

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Materials ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
           
Materials — continued
           
Zhejiang Huayou Cobalt, Cl A
   
4,430
   
$
54,901
 
Zhejiang Juhua, Cl A
   
13,400
     
22,899
 
Zhejiang Longsheng Group, Cl A
   
15,500
     
23,501
 
Zhejiang Yongtai Technology, Cl A
   
2,100
     
7,968
 
Zibo Qixiang Tengda Chemical, Cl A
   
7,500
     
8,029
 
Zijin Mining Group, Cl A
   
22,700
     
37,835
 
Zijin Mining Group, Cl H
   
252,059
     
375,865
 
                 
                 
TOTAL CHINA
           
4,053,083
 
HONG KONG — 2.7%
               
Materials — 2.7%
               
China Lumena New Materials *(A)(B)(C)
   
48
     
 
Huabao International Holdings
   
46,700
     
25,772
 
Nine Dragons Paper Holdings
   
96,970
     
86,142
 
                 
                 
TOTAL HONG KONG
           
111,914
 
TOTAL COMMON STOCK
               
(Cost $4,538,330)
           
4,164,997
 
TOTAL INVESTMENTS — 100.1%
               
(Cost $4,538,330)
         
$
4,164,997
 


Percentages are based on Net Assets of $4,159,458.

*
Non-income producing security.
(A)
Level 3 security in accordance with fair value hierarchy.
(B)
Security considered illiquid. The total value of such securities as of April 30, 2022 was $16,990 and represented 0.4% of Net Assets.
(C)
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 $16,990 and represents 0.4% of Net Assets.


Cl — Class
JSC — Joint Stock Company





The accompanying notes are an integral part of the financial statements.
6

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Materials 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
 
$
4,148,007
   
$
   
$
16,990
   
$
4,164,997
 
Total Investments in Securities
 
$
4,148,007
   
$
   
$
16,990
   
$
4,164,997
 


(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.
7

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Industrials ETF
 


   
Shares
   
Value
 
COMMON STOCK — 100.0%
           
CHINA — 98.6%
           
Industrials — 98.6%
           
51job ADR *
   
1,556
   
$
94,683
 
AECC Aero-Engine Control, Cl A
   
3,700
     
13,259
 
AECC Aviation Power, Cl A
   
7,885
     
44,852
 
Air China, Cl A *
   
19,260
     
27,462
 
Air China, Cl H *
   
91,900
     
62,663
 
AVIC Electromechanical Systems, Cl A
   
12,360
     
18,461
 
AviChina Industry & Technology, Cl H
   
129,810
     
71,141
 
AVICOPTER, Cl A
   
2,140
     
13,758
 
Beijing Capital International Airport, Cl H *
   
94,781
     
52,306
 
Beijing New Building Materials, Cl A
   
5,320
     
23,253
 
Beijing Originwater Technology, Cl A
   
11,940
     
8,431
 
Beijing United Information Technology, Cl A
   
1,025
     
14,854
 
Beijing-Shanghai High Speed Railway, Cl A
   
126,400
     
87,353
 
China Baoan Group, Cl A
   
7,080
     
9,594
 
China Communications Services, Cl H
   
127,400
     
58,292
 
China Conch Venture Holdings
   
84,430
     
220,056
 
China CSSC Holdings, Cl A
   
14,010
     
33,033
 
China Eastern Airlines, Cl A *
   
31,000
     
22,030
 
China Energy Engineering
   
101,800
     
37,092
 
China Everbright Environment Group
   
190,250
     
112,994
 
China Lesso Group Holdings
   
55,940
     
70,940
 
China Merchants Port Holdings
   
78,381
     
137,659
 
China National Chemical Engineering, Cl A
   
18,720
     
25,733
 
China Railway Group, Cl A
   
61,700
     
65,772
 
China Railway Group, Cl H
   
207,048
     
145,400
 
China Southern Airlines, Cl A *
   
33,460
     
32,746
 
China Southern Airlines, Cl H *
   
87,650
     
49,488
 
China State Construction Engineering, Cl A
   
129,075
     
122,046
 

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

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Industrials ETF
 



   
Shares
   
Value
 
COMMON STOCK — continued
           
Industrials — continued
           
China State Construction International Holdings
   
103,710
   
$
134,823
 
CITIC
   
298,350
     
310,664
 
Contemporary Amperex Technology, Cl A *
   
7,192
     
443,267
 
COSCO SHIPPING Development, Cl A
   
28,980
     
13,483
 
COSCO SHIPPING Holdings, Cl A
   
40,010
     
86,927
 
COSCO SHIPPING Holdings, Cl H
   
173,726
     
275,884
 
COSCO SHIPPING Ports
   
90,630
     
64,916
 
CRRC, Cl A
   
76,950
     
58,509
 
CRRC, Cl H
   
223,000
     
83,275
 
Daqin Railway, Cl A
   
48,000
     
48,132
 
DiDi Global ADR *
   
8,510
     
15,999
 
Dongfang Electric, Cl A
   
8,390
     
15,942
 
Eve Energy, Cl A
   
5,830
     
57,820
 
Fangda Carbon New Material, Cl A *
   
11,323
     
12,070
 
Fosun International
   
126,770
     
134,749
 
Ginlong Technologies, Cl A
   
737
     
21,416
 
Gotion High-Tech, Cl A
   
4,920
     
19,853
 
Guangdong Kinlong Hardware Products, Cl A
   
954
     
11,158
 
Haitian International Holdings
   
33,546
     
83,201
 
Hefei Meiya Optoelectronic Technology, Cl A
   
1,550
     
5,295
 
Hongfa Technology, Cl A
   
2,250
     
16,369
 
Jiangsu Expressway, Cl H
   
61,419
     
60,823
 
Jiangsu Hengli Hydraulic, Cl A
   
3,858
     
26,680
 
Jiangsu Zhongtian Technology, Cl A
   
9,410
     
23,165
 
Kuang-Chi Technologies, Cl A *
   
7,540
     
15,087
 
Luoyang Xinqianglian Slewing Bearing, Cl A
   
610
     
11,142
 
Metallurgical Corp of China, Cl A
   
57,100
     
30,004
 
Ming Yang Smart Energy Group, Cl A
   
6,550
     
21,913
 
NARI Technology, Cl A
   
17,020
     
82,003
 
Ningbo Ronbay New Energy Technology, Cl A
   
1,455
     
20,444
 
North Industries Group Red Arrow, Cl A
   
4,790
     
15,037
 

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

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Industrials ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
           
Industrials — continued
           
Power Construction Corp of China, Cl A
   
46,550
   
$
54,388
 
Riyue Heavy Industry, Cl A
   
2,270
     
5,578
 
Sany Heavy Equipment International Holdings
   
57,750
     
55,129
 
Sany Heavy Industry, Cl A
   
26,280
     
65,287
 
SF Holding, Cl A
   
15,235
     
117,674
 
Shanghai Construction Group, Cl A
   
28,600
     
13,952
 
Shanghai Electric Group, Cl A *
   
40,500
     
23,416
 
Shanghai International Airport, Cl A *
   
2,965
     
22,053
 
Shanghai International Port Group, Cl A
   
29,130
     
26,009
 
Shanghai M&G Stationery, Cl A
   
3,193
     
22,980
 
Shenzhen Inovance Technology, Cl A
   
8,030
     
69,761
 
Shenzhen International Holdings
   
63,631
     
68,609
 
Sichuan New Energy Power *
   
3,290
     
8,297
 
Sichuan Road & Bridge, Cl A
   
14,820
     
23,340
 
Sieyuan Electric, Cl A
   
2,450
     
11,096
 
Sinotrans, Cl A
   
13,600
     
7,720
 
Sinotruk Hong Kong
   
36,500
     
44,659
 
Sungrow Power Supply, Cl A
   
4,400
     
41,869
 
Sunwoda Electronic, Cl A
   
5,720
     
19,162
 
Suzhou Maxwell Technologies, Cl A
   
563
     
28,486
 
TBEA, Cl A
   
11,750
     
34,286
 
Titan Wind Energy Suzhou, Cl A
   
4,925
     
7,452
 
Weichai Power, Cl A
   
21,160
     
35,651
 
Weichai Power, Cl H
   
99,916
     
141,352
 
Wuxi Lead Intelligent Equipment, Cl A
   
2,472
     
16,477
 
Wuxi Shangji Automation, Cl A
   
823
     
15,191
 
XCMG Construction Machinery, Cl A *
   
25,720
     
19,208
 
Xiamen C & D, Cl A
   
8,800
     
19,159
 
Xinjiang Goldwind Science & Technology, Cl A
   
10,197
     
17,333
 
Xinjiang Goldwind Science & Technology, Cl H
   
39,951
     
57,435
 
Yantai Eddie Precision Machinery, Cl A
   
2,040
     
5,860
 

The accompanying notes are an integral part of the financial statements.
10

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Industrials ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
           
Industrials — continued
           
YTO Express Group, Cl A
   
10,140
   
$
27,298
 
Yunda Holding, Cl A
   
9,140
     
21,248
 
Zhefu Holding Group, Cl A
   
15,470
     
10,435
 
Zhejiang Chint Electrics, Cl A
   
6,250
     
30,762
 
Zhejiang Dingli Machinery, Cl A
   
1,423
     
7,970
 
Zhejiang Expressway, Cl H
   
75,560
     
62,500
 
Zhejiang HangKe Technology, Cl A
   
1,430
     
9,452
 
Zhejiang Sanhua Intelligent Controls, Cl A
   
5,760
     
14,535
 
Zhejiang Weiming Environment Protection, Cl A
   
3,885
     
14,302
 
Zhejiang Weixing New Building Materials, Cl A
   
4,410
     
12,609
 
Zhuzhou CRRC Times Electric, Cl H
   
28,743
     
114,845
 
Zhuzhou Kibing Group, Cl A
   
8,580
     
14,352
 
Zoomlion Heavy Industry Science and Technology, Cl A
   
22,500
     
19,649
 
Zoomlion Heavy Industry Science and Technology, Cl H
   
70,120
     
41,556
 
ZTO Express Cayman ADR *
   
22,331
     
614,326
 
                 
                 
TOTAL CHINA
           
6,010,109
 
SINGAPORE — 1.4%
               
Industrials — 1.4%
               
BOC Aviation
   
10,760
     
85,162
 
                 
                 
TOTAL COMMON STOCK
               
(Cost $7,053,854)
           
6,095,271
 
TOTAL INVESTMENTS — 100.0%
               
(Cost $7,053,854)
         
$
6,095,271
 


Percentages are based on Net Assets of $6,097,391.

*
Non-income producing security.


ADR — American Depositary Receipt
Cl — Class





The accompanying notes are an integral part of the financial statements.
11

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Industrials ETF
 


As of April 30, 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.

















The accompanying notes are an integral part of the financial statements.
12

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Consumer Discretionary ETF
 


   
Shares
   
Value
 
COMMON STOCK — 100.0%
           
CHINA — 100.0%
           
Consumer Discretionary — 100.0%
           
Alibaba Group Holding *
   
2,193,056
   
$
28,537,693
 
Alibaba Health Information Technology *
   
115,900
     
67,211
 
ANTA Sports Products
   
724,896
     
8,485,907
 
Autel Intelligent Technology, Cl A
   
51,986
     
219,710
 
Beijing Roborock Technology, Cl A
   
7,379
     
635,498
 
Bosideng International Holdings
   
6,212,500
     
3,135,487
 
BYD, Cl A
   
131,149
     
4,798,351
 
BYD, Cl H
   
514,630
     
15,466,153
 
Changzhou Xingyu Automotive Lighting Systems, Cl A
   
35,730
     
687,949
 
China Education Group Holdings
   
1,604,500
     
1,392,612
 
China Meidong Auto Holdings
   
884,400
     
2,947,568
 
China Ruyi Holdings *
   
5,504,300
     
1,339,920
 
China Tourism Group Duty Free, Cl A
   
143,750
     
3,938,911
 
Chongqing Changan Automobile, Cl A
   
768,776
     
1,211,901
 
Dada Nexus ADR *
   
116,962
     
892,420
 
Dongfeng Motor Group, Cl H
   
4,482,946
     
3,296,725
 
Ecovacs Robotics, Cl A
   
57,250
     
931,798
 
FAW Jiefang Group, Cl A
   
364,100
     
444,593
 
Fuyao Glass Industry Group, Cl A
   
241,214
     
1,291,109
 
Fuyao Glass Industry Group, Cl H
   
854,800
     
3,551,612
 
Geely Automobile Holdings
   
4,111,800
     
6,519,222
 
GOME Retail Holdings * (A)
   
23,540,700
     
1,155,110
 

The accompanying notes are an integral part of the financial statements.
13

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Consumer Discretionary ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
           
Consumer Discretionary — continued
           
Great Wall Motor, Cl A
   
270,700
   
$
1,011,605
 
Great Wall Motor, Cl H
   
2,550,997
     
3,673,938
 
Gree Electric Appliances of Zhuhai, Cl A
   
149,400
     
702,045
 
Guangzhou Automobile Group, Cl H
   
4,307,823
     
3,716,977
 
Haidilao International Holding * (A)
   
1,673,300
     
3,339,712
 
Haier Smart Home, Cl A
   
766,119
     
2,988,714
 
Haier Smart Home, Cl H
   
1,941,160
     
7,026,241
 
Hang Zhou Great Star Industrial, Cl A *
   
138,400
     
322,364
 
Hangzhou Robam Appliances, Cl A
   
114,032
     
530,525
 
Huayu Automotive Systems, Cl A
   
385,280
     
1,136,981
 
Huazhu Group ADR
   
154,084
     
4,659,500
 
Huizhou Desay Sv Automotive, Cl A
   
54,900
     
988,030
 
Jason Furniture Hangzhou, Cl A
   
79,200
     
694,015
 
JD Health International *
   
125,920
     
811,259
 
JD.com, Cl A *
   
1,015,004
     
34,358,897
 
Jiumaojiu International Holdings (A)
   
1,468,700
     
3,294,497
 
Li Auto ADR *
   
373,265
     
8,372,334
 
Li Ning
   
1,464,400
     
11,674,289
 
Meituan, Cl B *
   
1,227,450
     
26,907,643
 
Mianyang Fulin Precision, Cl A *
   
88,300
     
264,566
 
Minth Group
   
1,072,400
     
2,569,556
 
New Oriental Education & Technology Group ADR *
   
220,659
     
2,769,270
 
Ningbo Joyson Electronic, Cl A *
   
157,200
     
258,462
 
Ningbo Tuopu Group, Cl A
   
132,335
     
1,047,450
 
NIO ADR *
   
760,548
     
12,701,152
 
Oppein Home Group, Cl A
   
62,255
     
1,091,808
 
Pinduoduo ADR *
   
255,125
     
10,993,336
 
Ping An Healthcare and Technology * (A)
   
348,000
     
873,753
 
SAIC Motor, Cl A
   
947,700
     
2,275,895
 
Sailun Group, Cl A
   
374,353
     
543,913
 
Shandong Linglong Tyre, Cl A
   
169,734
     
454,127
 
Shanghai Jinjiang International Hotels, Cl A
   
109,656
     
886,599
 


The accompanying notes are an integral part of the financial statements.
14

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Consumer Discretionary ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
           
Consumer Discretionary — continued
           
Shanghai Yuyuan Tourist Mart Group, Cl A
   
373,328
   
$
505,325
 
Shenzhen Kedali Industry, Cl A
   
29,200
     
536,369
 
Shenzhen MTC, Cl A *
   
547,800
     
266,407
 
Shenzhen Overseas Chinese Town, Cl A
   
1,021,900
     
930,860
 
Shenzhou International Group Holdings
   
575,292
     
7,984,718
 
Songcheng Performance Development, Cl A
   
301,680
     
569,139
 
Suning.com, Cl A *
   
1,163,400
     
565,786
 
TAL Education Group ADR *
   
839,800
     
2,846,922
 
TCL Technology Group, Cl A
   
1,680,405
     
1,057,575
 
Tongcheng Travel Holdings *
   
1,835,900
     
3,303,902
 
Topsports International Holdings
   
3,103,200
     
2,396,767
 
Trip.com Group ADR *
   
358,538
     
8,479,424
 
Vipshop Holdings ADR *
   
509,057
     
3,899,377
 
Wuchan Zhongda Group, Cl A
   
618,800
     
461,186
 
Xiamen Intretech, Cl A
   
93,140
     
287,622
 
XPeng ADR, Cl A *
   
267,858
     
6,591,985
 
Yadea Group Holdings
   
2,332,600
     
3,555,616
 
Yum China Holdings
   
275,133
     
11,500,559
 
Zhejiang Semir Garment, Cl A
   
306,587
     
301,431
 
Zhejiang Supor, Cl A
   
68,226
     
565,802
 
Zhongsheng Group Holdings
   
696,500
     
4,642,653
 
                 
                 
TOTAL CHINA
           
305,136,338
 
TOTAL COMMON STOCK
               
(Cost $532,994,658)
           
305,136,338
 
                 
SHORT-TERM INVESTMENT(B)(C) — 0.8%
               
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.160%
               
(Cost $2,315,557) 
   
2,315,557
     
2,315,557
 


The accompanying notes are an integral part of the financial statements.
15

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Consumer Discretionary ETF
 


   
Face Amount
   
Value
 
REPURCHASE AGREEMENT(B) — 0.5%
           
BNP Paribas
           
0.240%, dated 04/29/2022, to be repurchased on 05/02/2022, repurchase price $1,660,382 (collateralized by various U.S. Treasury Obligations, ranging in par value $132,228 - $177,790, 0.250%, 09/30/2025, with a total market value of $1,692,521)
           
(Cost $1,660,349) 
 
$
1,660,349
   
$
1,660,349
 
TOTAL INVESTMENTS — 101.3%
               
(Cost $536,970,564)
         
$
309,112,244
 


Percentages are based on Net Assets of $305,223,101.

*
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 $3,400,573.
(B)
Security was purchased with cash collateral held from securities on loan. The total value of such securities as of April 30, 2022 was $3,975,906.
(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
 
$
305,136,338
   
$
   
$
   
$
305,136,338
 
Short-Term Investment
   
2,315,557
     
     
     
2,315,557
 
Repurchase Agreement
   
     
1,660,349
     
     
1,660,349
 
Total Investments in Securities
 
$
307,451,895
   
$
1,660,349
   
$
   
$
309,112,244
 


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





The accompanying notes are an integral part of the financial statements.
16

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Consumer Staples ETF
 


   
Shares
   
Value
 
COMMON STOCK — 99.9%
           
CHINA — 98.9%
           
Consumer Staples — 98.9%
           
Angel Yeast, Cl A
   
6,754
   
$
39,049
 
Anhui Gujing Distillery, Cl A
   
3,076
     
90,547
 
Anhui Gujing Distillery, Cl B
   
12,100
     
161,587
 
Anhui Kouzi Distillery, Cl A
   
4,800
     
37,024
 
Anhui Yingjia Distillery, Cl A
   
3,900
     
33,946
 
Anjoy Foods Group, Cl A
   
1,500
     
29,229
 
Beijing Dabeinong Technology Group, Cl A *
   
45,900
     
49,620
 
Beijing Shunxin Agriculture, Cl A
   
5,830
     
18,056
 
By-health, Cl A
   
13,400
     
40,492
 
C&S Paper, Cl A
   
9,100
     
14,414
 
Chacha Food, Cl A
   
3,500
     
27,998
 
China Feihe
   
317,000
     
303,419
 
China Mengniu Dairy
   
185,200
     
1,005,528
 
China Resources Beer Holdings
   
131,100
     
776,961
 
Chongqing Brewery, Cl A
   
3,872
     
73,135
 
Chongqing Fuling Zhacai Group, Cl A
   
6,500
     
34,204
 
Dali Foods Group
   
248,000
     
127,064
 
DaShenLin Pharmaceutical Group, Cl A
   
4,940
     
19,636
 
Foshan Haitian Flavouring & Food, Cl A
   
22,413
     
275,090
 
Fujian Sunner Development, Cl A
   
8,600
     
21,106
 
Guangdong Haid Group, Cl A
   
11,991
     
111,358
 
Heilongjiang Agriculture, Cl A
   
14,300
     
30,315
 
Henan Shuanghui Investment & Development, Cl A
   
22,840
     
102,307
 
Hengan International Group
   
63,400
     
300,591
 
Inner Mongolia Yili Industrial Group, Cl A
   
39,129
     
226,643
 
Jiangsu King’s Luck Brewery JSC, Cl A
   
9,800
     
66,222
 


The accompanying notes are an integral part of the financial statements.
17

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Consumer Staples ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
           
Consumer Staples — continued
           
Jiangsu Yanghe Brewery Joint-Stock, Cl A
   
9,194
   
$
220,184
 
Jiangxi Zhengbang Technology, Cl A *
   
23,200
     
20,435
 
JiuGui Liquor, Cl A
   
1,900
     
42,856
 
Jonjee Hi-Tech Industrial And Commercial Holding, Cl A
   
6,400
     
24,187
 
Juewei Food, Cl A
   
4,900
     
32,425
 
Kweichow Moutai, Cl A
   
3,826
     
1,053,252
 
Laobaixing Pharmacy Chain JSC, Cl A
   
3,160
     
15,339
 
Luzhou Laojiao, Cl A
   
8,597
     
272,768
 
Muyuan Foods, Cl A
   
31,364
     
246,645
 
New Hope Liuhe, Cl A *
   
38,600
     
81,539
 
Nongfu Spring, Cl H
   
153,200
     
820,071
 
Proya Cosmetics, Cl A
   
1,300
     
39,432
 
RLX Technology ADR *
   
49,696
     
100,883
 
Shanghai Bairun Investment Holding Group, Cl A
   
4,560
     
21,462
 
Shanghai Jahwa United, Cl A
   
5,600
     
26,264
 
Shanxi Xinghuacun Fen Wine Factory, Cl A
   
7,078
     
289,868
 
Sichuan Swellfun, Cl A
   
3,868
     
41,250
 
Smoore International Holdings
   
156,800
     
336,936
 
Sun Art Retail Group
   
239,300
     
75,028
 
Tingyi Cayman Islands Holding
   
189,500
     
347,305
 
Toly Bread, Cl A
   
8,820
     
18,153
 
Tongwei, Cl A
   
28,200
     
174,507
 
Tsingtao Brewery, Cl A
   
5,100
     
66,268
 
Tsingtao Brewery, Cl H
   
50,900
     
418,104
 
Uni-President China Holdings
   
150,300
     
132,750
 
Want Want China Holdings
   
461,000
     
416,573
 
Wens Foodstuffs Group *
   
46,644
     
131,047
 
Wuliangye Yibin, Cl A
   
21,348
     
521,124
 
Yifeng Pharmacy Chain, Cl A
   
5,480
     
30,363
 
Yihai International Holding
   
46,840
     
133,425
 
Yihai Kerry Arawana Holdings, Cl A
   
8,100
     
58,539
 


The accompanying notes are an integral part of the financial statements.
18

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Consumer Staples ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
           
Consumer Staples — continued
           
Yonghui Superstores, Cl A
   
103,600
   
$
69,101
 
Yuan Longping High-tech Agriculture, Cl A *
   
10,600
     
26,015
 
                 
                 
TOTAL CHINA
           
10,319,639
 
HONG KONG — 1.0%
               
Consumer Staples — 1.0%
               
Vinda International Holdings
   
41,000
     
99,284
 
                 
                 
TOTAL COMMON STOCK
               
(Cost $11,475,574)
           
10,418,923
 
TOTAL INVESTMENTS — 99.9%
               
(Cost $11,475,574)
         
$
10,418,923
 


Percentages are based on Net Assets of $10,429,913.

*
Non-income producing security.


ADR — American Depositary Receipt
Cl — Class
JSC — Joint Stock Company

As of April 30, 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.






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

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Health Care ETF
 


   
Shares
   
Value
 
COMMON STOCK — 99.9%
           
CHINA — 93.6%
           
Health Care — 93.6%
           
3SBio
   
188,700
   
$
133,478
 
Aier Eye Hospital Group, Cl A
   
40,024
     
216,460
 
Akeso *
   
25,700
     
49,001
 
Apeloa Pharmaceutical, Cl A
   
7,500
     
20,992
 
Asymchem Laboratories Tianjin, Cl A
   
1,613
     
64,856
 
Autobio Diagnostics, Cl A
   
2,782
     
19,163
 
BeiGene ADR *
   
4,588
     
734,080
 
Beijing Tiantan Biological Products, Cl A
   
9,300
     
27,627
 
Beijing Wantai Biological Pharmacy Enterprise, Cl A
   
3,190
     
77,520
 
Betta Pharmaceuticals, Cl A
   
2,420
     
15,708
 
BGI Genomics, Cl A
   
2,433
     
23,064
 
CanSino Biologics, Cl A
   
605
     
13,847
 
CanSino Biologics, Cl H
   
7,700
     
82,730
 
Changchun High & New Technology Industry Group, Cl A
   
2,828
     
66,858
 
China Medical System Holdings
   
170,100
     
246,278
 
China National Medicines, Cl A
   
4,900
     
21,771
 
China Resources Sanjiu Medical & Pharmaceutical, Cl A
   
6,900
     
38,314
 
China Traditional Chinese Medicine Holdings
   
406,800
     
199,611
 
Chongqing Zhifei Biological Products, Cl A
   
10,933
     
155,558
 
CSPC Pharmaceutical Group
   
912,808
     
942,341
 
Daan Gene, Cl A
   
8,460
     
22,915
 
Dong-E-E-Jiao, Cl E
   
8,700
     
39,690
 
Genscript Biotech *
   
127,800
     
370,558
 
Guangzhou Baiyunshan Pharmaceutical Holdings, Cl A
   
18,359
     
80,245
 


The accompanying notes are an integral part of the financial statements.
20

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Health Care ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
           
Health Care — continued
           
Guangzhou Kingmed Diagnostics Group, Cl A
   
3,100
   
$
37,961
 
Hangzhou Tigermed Consulting, Cl A
   
5,216
     
70,327
 
Hangzhou Tigermed Consulting, Cl H
   
12,320
     
121,533
 
Hansoh Pharmaceutical Group
   
134,500
     
223,191
 
Huadong Medicine, Cl A
   
21,411
     
109,929
 
Hualan Biological Engineering, Cl A
   
14,870
     
37,367
 
Humanwell Healthcare Group, Cl A
   
10,100
     
23,753
 
HUTCHMED China ADR *
   
10,593
     
159,848
 
Hygeia Healthcare Holdings
   
32,200
     
158,822
 
I-Mab ADR *
   
3,659
     
45,884
 
Imeik Technology Development, Cl A
   
1,200
     
93,500
 
Innovent Biologics *
   
113,900
     
365,094
 
Intco Medical Technology, Cl A
   
2,850
     
12,354
 
Jafron Biomedical, Cl A
   
6,100
     
37,932
 
Jiangsu Hengrui Medicine, Cl A
   
44,672
     
198,282
 
Jiangsu Yuyue Medical Equipment & Supply, Cl A
   
6,600
     
23,680
 
Jinxin Fertility Group
   
133,900
     
85,499
 
Joincare Pharmaceutical Group Industry, Cl A
   
11,900
     
19,942
 
Joinn Laboratories China, Cl A
   
1,500
     
22,467
 
Jointown Pharmaceutical Group, Cl A
   
26,070
     
50,282
 
Lepu Medical Technology Beijing, Cl A
   
14,701
     
37,761
 
Livzon Pharmaceutical Group, Cl A
   
4,300
     
21,559
 
Meinian Onehealth Healthcare Holdings, Cl A *
   
52,220
     
39,312
 
Microport Scientific
   
73,200
     
147,218
 
Nanjing King-Friend Biochemical Pharmaceutical, Cl A
   
7,036
     
27,364
 
Ovctek China, Cl A
   
5,924
     
32,948
 
PharmaBlock Sciences Nanjing, Cl A
   
1,000
     
11,569
 
Pharmaron Beijing, Cl A
   
3,500
     
65,977
 
Pharmaron Beijing, Cl H
   
12,750
     
162,338
 
Shandong Buchang Pharmaceuticals, Cl A
   
16,287
     
44,557
 


The accompanying notes are an integral part of the financial statements.
21

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Health Care ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
           
Health Care — continued
           
Shandong Weigao Group Medical Polymer, Cl H
   
279,300
   
$
300,083
 
Shanghai Fosun Pharmaceutical Group, Cl A
   
16,074
     
104,019
 
Shanghai Fosun Pharmaceutical Group, Cl H
   
59,600
     
257,507
 
Shanghai Junshi Biosciences, Cl A *
   
3,563
     
51,210
 
Shanghai Medicilon, Cl A
   
221
     
12,712
 
Shanghai Pharmaceuticals Holding, Cl A
   
20,700
     
54,822
 
Shanghai Pharmaceuticals Holding, Cl H
   
110,900
     
180,354
 
Shanghai RAAS Blood Products, Cl A
   
33,300
     
27,074
 
Shenzhen Kangtai Biological Products, Cl A
   
5,143
     
50,124
 
Shenzhen Mindray Bio-Medical Electronics, Cl A
   
7,361
     
346,344
 
Shenzhen New Industries Biomedical Engineering, Cl A
   
3,100
     
18,693
 
Shenzhen Salubris Pharmaceuticals, Cl A
   
13,000
     
44,940
 
Shijiazhuang Yiling Pharmaceutical, Cl A
   
13,827
     
51,838
 
Sichuan Kelun Pharmaceutical, Cl A
   
19,700
     
50,276
 
Sinopharm Group, Cl H
   
154,800
     
358,286
 
Topchoice Medical, Cl A *
   
2,380
     
45,993
 
Venus MedTech Hangzhou, Cl H *
   
19,700
     
36,708
 
Walvax Biotechnology, Cl A
   
12,100
     
97,376
 
Winning Health Technology Group, Cl A
   
15,270
     
18,278
 
WuXi AppTec, Cl A
   
16,924
     
263,045
 
WuXi AppTec, Cl H
   
35,456
     
492,561
 
Wuxi Biologics Cayman *
   
162,580
     
1,243,259
 
Yunnan Baiyao Group, Cl A
   
11,510
     
132,193
 
Zai Lab ADR *
   
7,889
     
315,245
 
Zhangzhou Pientzehuang Pharmaceutical,  Cl A
   
4,926
     
227,065
 
Zhejiang Huahai Pharmaceutical, Cl A
   
9,710
     
22,178
 
Zhejiang Jiuzhou Pharmaceutical, Cl A
   
4,600
     
32,677
 
Zhejiang NHU, Cl A
   
20,340
     
81,982
 


The accompanying notes are an integral part of the financial statements.
22

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Health Care ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
           
Health Care — continued
           
Zhejiang Wolwo Bio-Pharmaceutical, Cl A
   
3,223
   
$
19,867
 
                 
                 
TOTAL CHINA
           
11,087,624
 
HONG KONG — 4.8%
               
Health Care — 4.8%
               
Sino Biopharmaceutical
   
1,083,100
     
572,875
 
                 
                 
UNITED STATES — 1.5%
               
Health Care — 1.5%
               
Legend Biotech ADR *
   
4,375
     
175,656
 
                 
                 
TOTAL COMMON STOCK
               
(Cost $17,638,146)
           
11,836,155
 
TOTAL INVESTMENTS — 99.9%
               
(Cost $17,638,146)
         
$
11,836,155
 


Percentages are based on Net Assets of $11,849,246.

*
Non-income producing security.


ADR — American Depositary Receipt
Cl — Class

As of April 30, 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.






The accompanying notes are an integral part of the financial statements.
23

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Financials ETF
 

   
Shares
   
Value
 
COMMON STOCK — 100.2%
           
CHINA — 100.2%
           
Financials — 100.2%
           
360 DigiTech ADR
   
10,905
   
$
157,359
 
Agricultural Bank of China, Cl A
   
597,200
     
275,145
 
Agricultural Bank of China, Cl H
   
3,651,888
     
1,377,693
 
AVIC Industry-Finance Holdings, Cl A
   
124,000
     
71,879
 
Bank of Beijing, Cl A
   
202,700
     
139,473
 
Bank of Changsha, Cl A
   
47,150
     
52,746
 
Bank of Chengdu, Cl A
   
56,300
     
142,325
 
Bank of China, Cl A
   
323,800
     
157,471
 
Bank of China, Cl H
   
9,652,434
     
3,813,660
 
Bank of Communications, Cl A
   
319,100
     
244,068
 
Bank of Communications, Cl H
   
1,411,571
     
984,087
 
Bank of Hangzhou, Cl A
   
77,795
     
178,976
 
Bank of Jiangsu, Cl A
   
153,030
     
168,889
 
Bank of Nanjing, Cl A
   
98,084
     
171,308
 
Bank of Ningbo, Cl A
   
56,920
     
311,180
 
Bank of Shanghai, Cl A
   
124,398
     
121,557
 
BOC International China, Cl A
   
26,640
     
50,218
 
Caitong Securities, Cl A
   
63,510
     
68,084
 
Changjiang Securities, Cl A
   
84,900
     
70,945
 
China Bohai Bank, Cl H
   
517,500
     
85,083
 
China Cinda Asset Management, Cl H
   
2,335,900
     
395,958
 
China CITIC Bank Corp Ltd., Cl H
   
1,519,622
     
776,646
 
China Construction Bank, Cl A
   
23,200
     
21,203
 
China Construction Bank, Cl H
   
5,352,826
     
3,813,628
 
China Everbright Bank, Cl A
   
327,000
     
157,058
 
China Everbright Bank, Cl H
   
1,027,400
     
374,498
 
China Galaxy Securities, Cl A
   
51,400
     
71,818
 
China Galaxy Securities, Cl H
   
799,450
     
438,130
 


The accompanying notes are an integral part of the financial statements.
24

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Financials ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
           
Financials — continued
           
China Great Wall Securities, Cl A
   
38,300
   
$
47,690
 
China International Capital, Cl A
   
13,440
     
75,844
 
China International Capital, Cl H
   
257,550
     
522,574
 
China Life Insurance, Cl A
   
26,002
     
99,636
 
China Life Insurance, Cl H
   
883,890
     
1,297,759
 
China Merchants Bank, Cl A
   
86,834
     
522,047
 
China Merchants Bank, Cl H
   
393,524
     
2,402,427
 
China Merchants Securities, Cl A
   
69,280
     
133,205
 
China Minsheng Banking, Cl A
   
287,900
     
160,385
 
China Minsheng Banking, Cl H
   
1,097,326
     
418,167
 
China Pacific Insurance Group, Cl A
   
54,250
     
169,896
 
China Pacific Insurance Group, Cl H
   
371,262
     
830,899
 
China Taiping Insurance Holdings
   
321,730
     
371,504
 
China Zheshang Bank, Cl A
   
169,600
     
84,523
 
Chongqing Rural Commercial Bank, Cl A
   
118,000
     
68,757
 
CITIC Securities, Cl A
   
97,480
     
288,989
 
CITIC Securities, Cl H
   
411,345
     
913,267
 
CSC Financial, Cl A
   
33,825
     
109,903
 
Dongxing Securities, Cl A
   
50,200
     
62,205
 
East Money Information, Cl A
   
99,227
     
340,333
 
Everbright Securities, Cl A
   
43,432
     
74,417
 
Far East Horizon
   
440,000
     
359,463
 
First Capital Securities, Cl A
   
85,100
     
71,112
 
Founder Securities, Cl A
   
87,400
     
80,535
 
GF Securities Ltd., Cl A
   
56,200
     
135,979
 
GF Securities Ltd., Cl H
   
280,300
     
354,387
 
Guangzhou Yuexiu Financial Holdings Group, Cl A
   
44,205
     
49,119
 
Guolian Securities, Cl A
   
36,000
     
50,788
 
Guosen Securities, Cl A
   
55,945
     
81,706
 
Guotai Junan Securities, Cl A
   
70,444
     
154,852
 
Guoyuan Securities, Cl A
   
67,020
     
60,948
 
Haitong Securities Ltd., Cl A
   
86,800
     
118,274
 


The accompanying notes are an integral part of the financial statements.
25

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Financials ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
           
Financials — continued
           
Haitong Securities Ltd., Cl H
   
592,000
   
$
416,490
 
Hithink RoyalFlush Information Network, Cl A
   
7,460
     
92,249
 
Huatai Securities Ltd., Cl A
   
63,250
     
127,134
 
Huatai Securities Ltd., Cl H
   
318,650
     
442,674
 
Huaxi Securities, Cl A
   
37,690
     
39,667
 
Huaxia Bank, Cl A
   
123,700
     
101,505
 
Industrial & Commercial Bank of China, Cl A
   
293,400
     
211,159
 
Industrial & Commercial Bank of China, Cl H
   
6,414,737
     
3,875,258
 
Industrial Bank, Cl A
   
161,980
     
499,473
 
Industrial Securities, Cl A
   
83,500
     
81,844
 
Lufax Holding ADR
   
72,845
     
404,290
 
Nanjing Securities, Cl A
   
45,600
     
51,287
 
New China Life Insurance C, Cl A
   
21,537
     
96,730
 
New China Life Insurance C, Cl H
   
166,061
     
424,351
 
Noah Holdings ADR *
   
10,532
     
189,260
 
Northeast Securities, Cl A
   
36,000
     
35,557
 
Orient Securities, Cl A
   
126,824
     
174,911
 
People’s Insurance Group of China, Cl A
   
82,800
     
54,604
 
People’s Insurance Group of China, Cl H
   
1,744,800
     
560,389
 
PICC Property & Casualty, Cl H
   
1,055,063
     
1,083,819
 
Ping An Bank, Cl A
   
8,725
     
20,125
 
Ping An Insurance Group of China, Cl A
   
4,200
     
28,178
 
Ping An Insurance Group of China, Cl H
   
479,304
     
3,139,913
 
Postal Savings Bank of China, Cl A
   
228,500
     
186,125
 
Postal Savings Bank of China, Cl H
   
1,292,900
     
988,689
 
Qingdao Rural Commercial Bank, Cl A
   
95,300
     
48,642
 
SDIC Capital, Cl A
   
82,026
     
79,288
 
Sealand Securities, Cl A
   
94,810
     
47,964
 
Shanghai Pudong Development Bank, Cl A
   
230,214
     
278,335
 
Shanxi Securities, Cl A
   
70,540
     
53,210
 
Shenwan Hongyuan Group, Cl A
   
202,300
     
124,578
 
Sinolink Securities, Cl A
   
47,100
     
58,505
 


The accompanying notes are an integral part of the financial statements.
26

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Financials ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
           
Financials — continued
           
SooChow Securities, Cl A
   
78,384
   
$
80,134
 
Southwest Securities, Cl A
   
112,900
     
63,405
 
Tianfeng Securities, Cl A
   
124,100
     
56,055
 
Western Securities, Cl A
   
65,300
     
61,351
 
Zheshang Securities, Cl A
   
45,540
     
63,150
 
ZhongAn Online P&C Insurance, Cl H *
   
83,500
     
293,724
 
Zhongtai Securities, Cl A
   
54,300
     
59,191
 
                 
                 
TOTAL CHINA
           
39,895,888
 
TOTAL COMMON STOCK
               
(Cost $51,509,883)
           
39,895,888
 
TOTAL INVESTMENTS — 100.2%
               
(Cost $51,509,883)
         
$
39,895,888
 


Percentages are based on Net Assets of $39,827,860.

*
Non-income producing security.


ADR — American Depositary Receipt
Cl — Class
Ltd. — Limited

As of April 30, 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.

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





The accompanying notes are an integral part of the financial statements.
27

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Information Technology ETF
 

   
Shares
   
Value
 
COMMON STOCK — 99.9%
           
CHINA — 98.1%
           
Information Technology — 98.1%
           
360 Security Technology, Cl A
   
52,559
   
$
64,812
 
AAC Technologies Holdings
   
137,000
     
323,025
 
Addsino, Cl A
   
15,100
     
20,439
 
Advanced Micro-Fabrication, Cl A *
   
4,338
     
68,580
 
Avary Holding Shenzhen, Cl A
   
10,700
     
47,477
 
Beijing BDStar Navigation, Cl A
   
5,400
     
22,497
 
Beijing E-Hualu Information Technology, Cl A
   
5,040
     
11,102
 
Beijing Kingsoft Office Software, Cl A
   
3,221
     
91,513
 
Beijing Shiji Information Technology, Cl A
   
27,280
     
73,522
 
Beijing Sinnet Technology, Cl A
   
17,800
     
25,943
 
Beijing Yuanliu Hongyuan Electronic Technology, Cl A
   
1,180
     
20,920
 
BOE Technology Group, Cl A
   
499,700
     
285,900
 
BYD Electronic International
   
135,300
     
276,941
 
Chaozhou Three-Circle Group, Cl A
   
35,189
     
151,793
 
China Greatwall Technology Group, Cl A
   
36,000
     
48,891
 
China Railway Signal & Communication,  Cl A
   
33,330
     
21,679
 
China Resources Microelectronics, Cl A
   
6,353
     
46,564
 
China TransInfo Technology, Cl A
   
16,100
     
20,774
 
China Zhenhua Group Science & Technology, Cl A
   
3,700
     
58,890
 
Chinasoft International
   
374,300
     
308,174
 


The accompanying notes are an integral part of the financial statements.
28

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Information Technology ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
           
Information Technology — continued
           
Chindata Group Holdings ADR *
   
12,897
   
$
80,477
 
Daqo New Energy ADR *
   
8,811
     
366,273
 
DHC Software, Cl A
   
72,500
     
63,530
 
Fiberhome Telecommunication Technologies, Cl A
   
11,900
     
24,063
 
Flat Glass Group, Cl A *
   
9,800
     
59,906
 
Flat Glass Group, Cl H *
   
54,900
     
198,717
 
Foxconn Industrial Internet, Cl A
   
73,450
     
105,281
 
GCL System Integration Technology, Cl A *
   
76,400
     
31,634
 
GDS Holdings ADR * (A)
   
15,485
     
486,539
 
Gigadevice Semiconductor Beijing, Cl A
   
7,443
     
139,868
 
GoerTek, Cl A
   
47,100
     
248,559
 
GRG Banking Equipment, Cl A
   
26,400
     
34,025
 
Guangzhou Haige Communications Group, Cl A
   
52,200
     
71,285
 
Guangzhou Shiyuan Electronic Technology, Cl A
   
7,100
     
82,014
 
Hangzhou First Applied Material, Cl A
   
8,280
     
115,616
 
Hangzhou Silan Microelectronics, Cl A
   
13,000
     
82,208
 
Hengtong Optic-electric, Cl A
   
13,600
     
20,682
 
Hua Hong Semiconductor *
   
99,100
     
394,069
 
Huagong Tech, Cl A
   
10,100
     
25,593
 
Hundsun Technologies, Cl A
   
27,053
     
155,108
 
Iflytek
   
35,850
     
199,716
 
Ingenic Semiconductor, Cl A
   
4,000
     
44,952
 
Inspur Electronic Information Industry, Cl A
   
14,852
     
55,144
 
JA Solar Technology, Cl A
   
12,800
     
156,933
 
JCET Group, Cl A
   
17,000
     
55,338
 
Kingboard Holdings
   
123,800
     
563,290
 
Kingdee International Software Group *
   
424,300
     
882,544
 
Kingsoft Cloud Holdings ADR *
   
12,165
     
44,037
 
Lakala Payment, Cl A *
   
7,900
     
21,303
 
Lenovo Group
   
1,192,500
     
1,167,248
 


The accompanying notes are an integral part of the financial statements.
29

Schedule of Investments
 
April 30, 2022 (Unaudited)
 
Global X MSCI China Information Technology ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
           
Information Technology — continued
           
Lens Technology, Cl A
   
73,800
   
$
112,894
 
Leyard Optoelectronic, Cl A
   
28,300
     
25,608
 
Lingyi iTech Guangdong, Cl A *
   
69,497
     
44,785
 
LONGi Green Energy Technology, Cl A
   
57,137
     
584,644
 
Luxshare Precision Industry, Cl A
   
82,052
     
381,494
 
Maxscend Microelectronics, Cl A
   
2,739
     
76,507
 
Ming Yuan Cloud Group Holdings (A)
   
77,000
     
103,044
 
Montage Technology, Cl A
   
7,461
     
65,211
 
National Silicon Industry, Cl A *
   
13,254
     
41,708
 
NAURA Technology Group, Cl A
   
5,708
     
205,401
 
NavInfo, Cl A
   
12,500
     
23,394
 
Ninestar, Cl A
   
29,770
     
183,415
 
OFILM Group, Cl A *
   
73,500
     
61,308
 
Raytron Technology, Cl A
   
2,793
     
15,101
 
Sangfor Technologies, Cl A
   
4,410
     
59,194
 
SG Micro, Cl A
   
2,200
     
92,747
 
Shanghai Baosight Software, Cl A
   
12,240
     
87,704
 
Shanghai Baosight Software, Cl B
   
54,100
     
199,629
 
Shanghai Friendess Electronic Technology, Cl A
   
572
     
21,358
 
Shengyi Technology, Cl A
   
24,000
     
60,274
 
Shennan Circuits, Cl A
   
4,882
     
70,131
 
Shenzhen Goodix Technology, Cl A
   
4,550
     
38,699
 
Shenzhen Kaifa Technology, Cl A
   
14,500
     
21,286
 
Shenzhen SC New Energy Technology, Cl A
   
3,800
     
33,928
 
Shenzhen Sunlord Electronics, Cl A
   
3,700
     
13,972
 
Shenzhen Sunway Communication, Cl A
   
9,800
     
21,646
 
Shenzhen Transsion Holdings, Cl A