Global X Robotics & Artificial Intelligence ETF (ticker: BOTZ)

Global X Internet of Things ETF (ticker: SNSR)

Global X FinTech ETF (ticker: FINX)

Global X Video Games & Esports ETF (ticker: HERO)

Global X Autonomous & Electric Vehicles ETF (ticker: DRIV)

Global X Cloud Computing ETF (ticker: CLOU)

Global X Data Center REITs & Digital Infrastructure ETF (ticker: VPN)

Global X Cybersecurity ETF (ticker: BUG)

Global X Artificial Intelligence & Technology ETF (ticker: AIQ)

Global X Millennial Consumer ETF (ticker: MILN)

Global X Education ETF (ticker: EDUT)

Global X Cannabis ETF (ticker: POTX)

Global X Genomics & Biotechnology ETF (ticker: GNOM)

Global X China Biotech Innovation ETF (ticker: CHB)

Global X Telemedicine & Digital Health ETF (ticker: EDOC)

Global X Aging Population ETF (ticker: AGNG)

Global X Health & Wellness ETF (ticker: BFIT)

Global X CleanTech ETF (ticker: CTEC)

Global X U.S. Infrastructure Development ETF (ticker: PAVE)

Global X Thematic Growth ETF (ticker: GXTG)

Global X AgTech & Food Innovation ETF (ticker: KROP)

Global X Blockchain ETF (ticker: BKCH)

Global X Clean Water ETF (ticker: AQWA)

Global X Hydrogen ETF (ticker: HYDR)

Global X Solar ETF (ticker: RAYS)

Global X Wind Energy ETF (ticker: WNDY)

Annual Report

November 30, 2021

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

Management Discussion of Fund Performance	1
Schedules of Investments
Global X Robotics & Artificial Intelligence ETF	55
Global X Internet of Things ETF	59
Global X FinTech ETF	64
Global X Video Games & Esports ETF	69
Global X Autonomous & Electric Vehicles ETF	73
Global X Cloud Computing ETF	80
Global X Data Center REITs & Digital Infrastructure ETF	84
Global X Cybersecurity ETF	87
Global X Artificial Intelligence & Technology ETF	90
Global X Millennial Consumer ETF	97
Global X Education ETF	102
Global X Cannabis ETF	106
Global X Genomics & Biotechnology ETF	110
Global X China Biotech Innovation ETF	114
Global X Telemedicine & Digital Health ETF	117
Global X Aging Population ETF	121
Global X Health & Wellness ETF	127
Global X CleanTech ETF	132
Global X U.S. Infrastructure Development ETF	136
Global X Thematic Growth ETF	141
Global X AgTech & Food Innovation ETF	144
Global X Blockchain ETF	148
Global X Clean Water ETF	152
Global X Hydrogen ETF	156
Global X Solar ETF	159
Global X Wind Energy ETF	164
Statements of Assets and Liabilities	168
Statements of Operations	175
Statements of Changes in Net Assets	182
Financial Highlights	196
Notes to Financial Statements	208
Report of Independent Registered Public Accounting Firm	239
Disclosure of Fund Expenses	242
Approval of Investment Advisory Agreement	246
Supplemental Information	254
Trustees and Officers of the Trust	255
Notice to Shareholders	258

Table of Contents

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 http://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 http://www.sec.gov

	Management Discussion of Fund Performance (unaudited)
	Global X Robotics & Artificial Intelligence ETF

Global X Robotics & Artificial Intelligence ETF

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

The Underlying Index seeks to invest in companies that potentially stand to benefit from increased adoption and utilization of robotics and artificial intelligence (“AI”), as defined by Indxx, the provider of the Underlying Index. The Underlying Index includes companies involved in industrial robotics and automation, non-industrial robots, and/or autonomous vehicles.

For the 12-month period ended November 30, 2021 (the “reporting period”), the Fund increased 14.23%, while the Underlying Index increased 15.08%. The Fund had a net asset value of $31.78 per share on November 30, 2020 and ended the reporting period with a net asset value of $36.24 per share on November 30, 2021.

During the reporting period, the highest returns derived from Nvidia Corporation and Ats Automation Tooling Systems, which returned 144.07% and 122.05%, respectively. The worst performers included AI Inside, Inc. and Neural Pocket, Inc., which returned -92.00% and -74.13%, respectively.

Over the reporting period, robotics and AI companies showed ongoing growth generating positive performance for the Fund. As much of the workforce was no longer able to work in-person due to the COVID-19 pandemic, robots were utilized in spaces such as warehouses and medicine where automation was deemed necessary. The COVID-19 pandemic saw hospitals and clinics deploying robots for prepping patient rooms, limiting human contact, and using AI software to sort patient records. Factory automation was a driving force for adoption of AI over the reporting period, prompting companies to invest in new plants—specifically in China. Another area where both robotics and AI saw expansion was within the autonomous vehicle (“AV”) industry, with a primary focus on self-driving trucking technology and potential AV fleets. The Fund’s Japanese exposure detracted from performance as the effects of the COVID-19 pandemic dampened corporate performance. Over the reporting period, the Fund saw an average approximate sector allocation of 44% to Industrials, 37% to Information Technology, and 4% to Financials. It was predominately exposed to the United States (41%), followed by Japan (39%), and Switzerland (12%).

	Management Discussion of Fund Performance (unaudited)
	Global X Robotics & Artificial Intelligence ETF

	AVERAGE TOTAL RETURN FOR THE YEAR ENDED NOVEMBER 30, 2021
	One Year Return		Three Year Return		Five Year Return		Annualized Inception to Date*
	Net Asset Value	Market Price	Net Asset Value	Market Price	Net Asset Value	Market Price	Net Asset Value	Market Price
Global X Robotics & Artificial Intelligence ETF	14.23%	14.57%	23.65%	23.55%	20.17%	19.86%	19.31%	19.28%
Indxx Global Robotics & Artificial Intelligence Thematic Index	15.08%	15.08%	24.22%	24.22%	20.59%	20.59%	19.70%	19.70%
MSCI ACWI Index (Net)	19.27%	19.27%	15.96%	15.96%	13.99%	13.99%	13.34%	13.34%

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on September 12, 2016.

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

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when sold, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike the Fund’s returns, do not

	Management Discussion of Fund Performance (unaudited)
	Global X Robotics & Artificial Intelligence ETF

reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index.

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

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

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

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

See definition of comparative indices on the previous pages.

	Management Discussion of Fund Performance (unaudited)
	Global X Internet of Things ETF

Global X Internet of Things ETF

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

The Underlying Index seeks to invest in companies that stand to potentially benefit from the broader adoption of the Internet of Things (“IoT”). This includes the development and manufacturing of semiconductors and sensors, integrated products and solutions, and applications serving smart grids, smart homes, connected cars, and the industrial internet.

For the 12-month period ended November 30, 2021 (the “reporting period”), the Fund increased 26.24%, while the Underlying Index increased 26.75%. The Fund had a net asset value of $29.95 per share on November 30, 2020 and ended the reporting period with a net asset value of $37.68 per share on November 30, 2021.

During the reporting period, the highest returns came from eMemory Technology, Inc. and Nordic Semiconductor ASA, which returned 287.06% and 132.50%, respectively. The worst performers were Vivint Smart Home, Inc. Class A and Kyndryl Holdings Incorporation, which returned -52.16% and -44.56%, respectively.

The Fund generated strong returns over the reporting period even as manufacturers of IoT devices faced a global semiconductor shortage. This ongoing supply crunch reduced availability of components and rendered manufacturers unable to meet full demand for devices. Growing demand for IoT devices related to cloud computing, video games, autonomous and electric vehicles, infrastructure, and fitness wearables kept investors interested even with short term headwinds. Additionally, passage of the Infrastructure Investment and Jobs Act in the United States, which authorized billions of dollars in funding for 5G expansion, likely contributed to positive sentiments toward the IoT industry. Adoption of low latency and high capacity 5G networks could accommodate the expected surge in internet-enabled devices. Over the reporting period, average approximate sector weightings of the Fund were reported to be the highest in Information Technology, at 63%, followed by Industrials, at 24%. The Fund maintained an average allocation of 57% to the United States stocks, followed by Switzerland (16%) and Taiwan (10%).

	Management Discussion of Fund Performance (unaudited)
	Global X Internet of Things ETF

	AVERAGE TOTAL RETURN FOR THE YEAR ENDED NOVEMBER 30, 2021
	One Year Return		Three Year Return		Five Year Return		Annualized Inception to Date*
	Net Asset Value	Market Price	Net Asset Value	Market Price	Net Asset Value	Market Price	Net Asset Value	Market Price
Global X Internet of Things ETF	26.24%	26.63%	29.02%	29.20%	20.42%	20.33%	20.22%	20.27%
Indxx Global Internet of Things Thematic Index	26.75%	26.75%	29.43%	29.43%	20.82%	20.82%	20.61%	20.61%
MSCI ACWI Index (Net)	19.27%	19.27%	15.96%	15.96%	13.99%	13.99%	13.34%	13.34%

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on September 12, 2016.

	Management Discussion of Fund Performance (unaudited)
	Global X Internet of Things ETF

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

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

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

See definition of comparative indices on the previous pages.

	Management Discussion of Fund Performance (unaudited)
	Global X FinTech ETF

Global X FinTech ETF

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

The Underlying Index seeks to invest in companies on the leading edge of the emerging financial technology sector, which encompasses a range of innovations helping to transform established industries – such as insurance, investing, fundraising, and third-party lending – through unique mobile and digital solutions.

For the 12-month period ended November 30, 2021 (the “reporting period”), the Fund increased 6.48%, while the Underlying Index increased 7.11%. The Fund had a net asset value of $42.75 per share on November 30, 2020 and ended the reporting period with a net asset value of $45.52 per share on November 30, 2021.

During the reporting period, the highest returns derived from LendingClub Corp and Hut 8 Mining Corp, which returned 310.02% and 180.43%, respectively. The worst performers included StoneCo Ltd. Class A and Makuake, Inc., which returned -78.69% and -57.08%, respectively.

The Fund experienced modest returns over the reporting period. Innovations, such as “buy now pay later”, an alternative to traditional forms of credit gaining popularity in the e-commerce industry, positively contributed to growth in the financial technology (“Fintech”) industry. However, Fintech firms faced some obstacles, especially in the cryptocurrency space, as governments imposed regulations on digital transactions. Companies were impacted by increasing regulations over technology platforms in China and in the United States. During the reporting period, the Fund saw large average sector exposures to Information Technology (85%) and Financials (13%). Geographically, it maintained an allocation of 59% to stocks in the United States, followed by Australia (5%), Brazil (2%), the Netherlands (7%), and New Zealand (4%).

	AVERAGE TOTAL RETURN FOR THE YEAR ENDED NOVEMBER 30, 2021
	One Year Return		Three Year Return		Five Year Return		Annualized Inception to Date*
	Net Asset Value	Market Price	Net Asset Value	Market Price	Net Asset Value	Market Price	Net Asset Value	Market Price
Global X FinTech ETF	6.48%	6.81%	22.93%	23.04%	25.08%	25.10%	23.66%	23.72%
Indxx Global Fintech Thematic Index	7.11%	7.11%	23.68%	23.68%	25.88%	25.88%	24.41%	24.41%
MSCI ACWI Index (Net)	19.27%	19.27%	15.96%	15.96%	13.99%	13.99%	13.34%	13.34%

	Management Discussion of Fund Performance (unaudited)
	Global X FinTech ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on September 12, 2016.

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X Video Games & Esports ETF

Global X Video Games & Esports ETF

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

The Underlying Index is designed to provide exposure to exchange-listed companies that are positioned to benefit from increased consumption related to video games and esports, including companies whose principal business is in video game development/publishing, video game and esports content distribution and streaming, operating/owning esports leagues/teams, and producing video game/esports hardware. To be eligible for the Underlying Index, a company must be considered by Solactive AG, the provider of the Underlying Index (the “Index Provider”), to be a Video Games & Esports Company. A company is considered to be a Video Games & Esports Company by the Index Provider if the company generates at least 50% of its revenues from video games and esports activities.

For the 12-month period ended November 30, 2021 (the “reporting period”), the Fund increased 4.09%, while the Underlying Index increased 4.71%. The Fund had a net asset value of $28.57 per share on November 30, 2020 and ended the reporting period with a net asset value of $29.52 per share on November 30, 2021.

During the reporting period, the highest returns came from Wemade Co., Ltd. and PearlAbyss Corp., which returned 809.41% and 196.19%, respectively. The worst performers were DouYu International Holdings Ltd. and HUYA, Inc. Sponsored ADR Class A which returned -79.03% and -58.39%, respectively.

Video game companies delivered slightly positive returns over the reporting period. Video Games & Esports Companies were adversely impacted by Chinese restrictions on video games. Video Games & Esports Companies also faced headwinds from the shift away from the stay-at-home economy. However, COVID-19 pandemic-driven stay-at-home orders helped accelerate an emerging theme of interactive video games and esports as consumers sought social interaction. Toward the end of the reporting period, many game manufacturers began opting to make the console obsolete and move towards a cloud-based system, which promoted optimism surrounding Video Games & Esports Companies. During the reporting period, the number of gamers and time spent playing and watching video games showed consistent growth. During the reporting period, the Fund saw an average approximate allocation of 90% to Communication Services and 10% to Information Technology. Geographically, the Fund had an average exposure of 29% to the United States, followed by 25% to Japan and 13% to China.

	AVERAGE TOTAL RETURN FOR THE YEAR ENDED NOVEMBER 30, 2021
	One Year Return		Annualized Inception to Date*
	Net Asset Value	Market Price	Net Asset Value	Market Price
Global X Video Games & Esports ETF	4.09%	3.76%	38.73%	38.64%
Solactive Video Games & Esports Index	4.71%	4.71%	39.42%	39.42%
MSCI ACWI Index (Net)	19.27%	19.27%	17.86%	17.86%

	Management Discussion of Fund Performance (unaudited)
	Global X Video Games & Esports ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on October 25, 2019.

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X Autonomous & Electric Vehicles ETF

Global X Autonomous & Electric Vehicles ETF

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

The Underlying Index tracks the price movements in shares of companies which are active in the electric vehicle (“EV”) and autonomous driving segments, as defined by Solactive AG, the provider of the Underlying Index. In particular, this includes electric vehicle manufacturers, electric vehicle component producers, companies that mine or produce raw materials that are relevant to the electric vehicle and autonomous vehicle technology segment, companies that build autonomous vehicles, and suppliers of autonomous vehicle technologies.

For the 12-month period ended November 30, 2021 (the “reporting period”), the Fund increased 40.22%, while the Underlying Index increased 40.97%. The Fund had a net asset value of $21.75 per share on November 30, 2020 and ended the reporting period with a net asset value of $30.41 per share on November 30, 2021.

During the reporting period, the highest returns came from Pilbara Minerals Limited and Nvidia Corporation, which returned 278.27% and 144.07%, respectively. The worst performers included CBAK Energy Technology, Inc. and Romeo Power, Inc., which returned -52.04% and -42.86%, respectively.

Global EV sales grew at a rapid rate over the reporting period, generating strong returns for the Fund. Much of the growth was attributed to a continued transition from fossil fuels to renewable energy and government support across major economies for the adoption of EVs through subsidies. With President Biden’s goal of EVs accounting for at least 50% of new vehicle sales in the United States by 2030, demand is expected to sustain in the coming years as EV sales in the United States more than doubled in 2021. An obstacle for EV manufacturers that caused volatility was rapidly increasing lithium prices – a key element in batteries used in EVs. During the reporting period, the Fund maintained an average approximate sector allocation of 36% to Consumer Discretionary, 30% to Information Technology, and 14% to Industrials. It had an average allocation of 61% to the United States, 8% to Japan, and 5% to China.

	AVERAGE TOTAL RETURN FOR THE YEAR ENDED NOVEMBER 30, 2021
	One Year Return		Three Year Return		Annualized Inception to Date*
	Net Asset Value	Market Price	Net Asset Value	Market Price	Net Asset Value	Market Price
Global X Autonomous & Electric Vehicles ETF	40.22%	40.20%	33.95%	34.17%	23.07%	23.16%
Solactive Autonomous & Electric Vehicles Index	40.97%	40.97%	34.27%	34.27%	23.28%	23.28%
MSCI ACWI Index (Net)	19.27%	19.27%	15.96%	15.96%	12.18%	12.18%

	Management Discussion of Fund Performance (unaudited)
	Global X Autonomous & Electric Vehicles ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on April 13, 2018.

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X Cloud Computing ETF

Global X Cloud Computing ETF

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

The Underlying Index is designed to provide exposure to exchange-listed companies in developed and emerging markets that are positioned to benefit from the increased adoption of cloud computing technology, including but not limited to companies whose principal business is in offering computing Software-as-a-Service (“SaaS”), Platform-as-a-Service (“PaaS”), Infrastructure-as-a-Service (“IaaS”), managed server storage space and data center REITs, and/or cloud and edge computing infrastructure and hardware (collectively, “Cloud Computing Companies”), as defined by Indxx LLC, the provider of the Underlying Index (“Index Provider”).

For the 12-month period ended November 30, 2021 (the “reporting period”), the Fund increased 9.83%, while the Underlying Index increased 10.53%. The Fund had a net asset value of $25.84 per share on November 30, 2020 and ended the reporting period with a net asset value of $28.38 per share on November 30, 2021.

During the reporting period, the highest returns derived from Zscaler, Inc. and Workiva Inc. Class A, which returned 122.77% and 85.98%, respectively. The worst performers included VNET Group, Inc. Sponsored ADR and Zoom Video Communications, Inc. Class A, which returned -65.7% and -55.81%, respectively.

Cloud computing companies realized moderate returns during the reporting period. The switch to a work-from-home economy forced companies to transition their software usage from on-premises to the cloud resulting from the COVID-19 pandemic. Cloud Computing Companies faced hindrances from initiating cloud migration and a lack of information technology (IT) knowledge during the reporting period due to the novelty of cloud computing. However, many businesses found advantages by adopting cloud or hybrid-cloud models. Customers increasingly opted for multi-cloud infrastructure solutions to diversify risk and align specific needs with the appropriate cloud provider. Even as the COVID-19 pandemic eased, cloud adoption remained strong. This mitigated the effects of the switch away from the stay-at-home economy during the reporting period. During the reporting period, the Fund saw an average approximate sector allocation of 84% to Information Technology, 6% to Communication Services, and 5% to Real Estate. The Fund had an average allocation of 88% to the United States, 4% to Canada, and 4% to New Zealand.

	AVERAGE TOTAL RETURN FOR THE YEAR ENDED NOVEMBER 30, 2021
	One Year Return		Annualized Inception to Date*
	Net Asset Value	Market Price	Net Asset Value	Market Price
Global X Cloud Computing ETF	9.83%	9.85%	27.23%	27.51%
Indxx Global Cloud Computing Index	10.53%	10.53%	27.94%	27.94%
MSCI ACWI Index (Net)	19.27%	19.27%	15.36%	15.36%

	Management Discussion of Fund Performance (unaudited)
	Global X Cloud Computing ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on April 12, 2019.

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X Data Center REITs & Digital Infrastructure ETF

Global X Data Center REITs & Digital Infrastructure ETF

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

The Underlying Index is designed to provide exposure to companies that have business operations in the fields of data centers, cellular towers, and/or digital infrastructure hardware. Specifically, the Underlying Index will include securities issued by “Data Center REITs & Digital Infrastructure Companies” as defined by Solactive AG, the provider of the Underlying Index (the “Index Provider”).

For the 12-month period ended November 30, 2021 (the “reporting period”), the Fund increased 20.17%, while the Underlying Index increased 20.22%. The Fund had a net asset value of $14.94 per share on November 30, 2020 and ended the reporting period with a net asset value of $17.83 per share on November 30, 2021.

During the reporting period, the highest returns derived from Nvidia Corporation and PT Tower Bersama Infrastructure Tbk, which returned 144.07% and 112.10%, respectively. The worst performers included VNET Group, Inc. and GDS Holdings Ltd. Sponsored ADR Class A, which returned -65.70% and -37.75%, respectively.

The Fund generated positive returns due to a favorable environment for REITs as well as positive sentiment towards infrastructure legislature during the reporting period. Historically low bond yields drove income-seeking investors to explore REITs as a solution. Additionally, concerns over rising inflation renewed interest towards inflation hedging assets such as REITs. Furthermore, anticipation surrounding the recently passed Infrastructure Investment and Jobs Act (“IIJA”), a U.S. bill aimed at enhancing infrastructure, helped create investor interest in the data center and digital infrastructure industries. The IIJA seeks to invest billions in expanding broadband, with provisions that aim to improve data center and cellular tower capacity. During the reporting period, the Fund maintained the highest average approximate exposure of 66% to the Real Estate sector and 25% to the Information Technology sector.

	AVERAGE TOTAL RETURN FOR THE PERIOD ENDED NOVEMBER 30, 2021
	One Year Return		Annualized Inception to Date*
	Net Asset Value	Market Price	Net Asset Value	Market Price
Global X Data Center REITs & Digital Infrastructure ETF	20.17%	19.37%	18.07%	18.07%
Solactive Data Center REITs & Digital Infrastructure Index	20.22%	20.22%	18.17%	18.17%
MSCI ACWI Index (Net)	19.27%	19.27%	26.39%	26.39%

	Management Discussion of Fund Performance (unaudited)
	Global X Data Center REITs & Digital Infrastructure ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on October 27, 2020.

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X Cybersecurity ETF

Global X Cybersecurity ETF

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

The Underlying Index is designed to provide exposure to exchange-listed companies that are positioned to benefit from increased adoption of cybersecurity technology, including but not limited to companies whose principal business is in the development and management of security protocols designed to prevent intrusion and attacks to systems, networks, applications, computers, and mobile devices. To be eligible for the Underlying Index as a Cybersecurity Company, a company must generate at least 50% of its revenues from cybersecurity activities.

For the 12-month period ended November 30, 2021 (the “reporting period”), the Fund increased 39.68%, while the Underlying Index increased 40.29%. The Fund had a net asset value of $22.75 per share on November 30, 2020 and ended the reporting period with a net asset value of $31.75 per share on November 30, 2021.

During the reporting period, the highest returns derived from Fortinet, Inc. and Zscaler, Inc., which returned 169.50% and 122.77%, respectively. The worst performers were Intrusion Inc. and Telos Corporation, which returned -58.49% and -52.86%, respectively.

Increasing cybercrime opportunities due to greater digital adoption resulted in strong returns for the Fund through the reporting period. An increased prevalence of cyberattacks caused governments, businesses, and individuals to invest in cyber capabilities to shield themselves from potential future attacks. Growing cyberattacks and their potential implications on sectors and governments worldwide made cybersecurity tools indispensable for organizations to operate securely across multiple business functions. During the reporting period, the Fund maintained an average approximate sector allocation of (100%) to Information Technology. Geographically, during the reporting period, the Fund’s exposures derived mainly from the United States at 78% and Israel at 12%.

	AVERAGE TOTAL RETURN FOR THE YEAR ENDED NOVEMBER 30, 2021
	One Year Return		Annualized Inception to Date*
	Net Asset Value	Market Price	Net Asset Value	Market Price
Global X Cybersecurity ETF	39.68%	39.58%	42.31%	43.71%
Indxx Cybersecurity Index	40.29%	40.29%	42.37%	42.37%
MSCI ACWI Index (Net)	19.27%	19.27%	17.86%	17.86%

	Management Discussion of Fund Performance (unaudited)
	Global X Cybersecurity ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on October 25, 2019.

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X Artificial Intelligence & Technology ETF

Global X Artificial Intelligence & Technology ETF

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

The Underlying Index is designed to provide exposure to exchange-listed companies in developed markets that are positioned to benefit from the further development and implementation of artificial intelligence (“AI”) technology, as well as to companies that provide critical technology and services for the analysis of large and complex data sets (collectively, “Artificial Intelligence & Big Data Companies”).

For the 12-month period ended November 30, 2021 (the “reporting period”), the Fund increased 22.60%, while the Underlying Index increased 23.20%. The Fund had a net asset value of $25.84 per share on November 30, 2020 and ended the reporting period with a net asset value of $31.58 per share on November 30, 2021.

During the reporting period, the highest returns derived from Nvidia Corporation and BlackBerry Limited, which returned 144.07% and 140.20%, respectively. The worst performers included AI inside, Inc. and StoneCo Ltd. Class A, which returned -91.56% and -78.69%, respectively.

The AI industry produced positive returns over the reporting period by focusing on niche sectors such as machine learning and deep learning while continuing industry-wide penetration. In many ways, the COVID-19 pandemic accelerated AI adoption. Social distancing mandates necessitated remote work environments and disruptions in the supply chain encouraged reliance on software technology. Investors in Artificial Intelligence & Big Data Companies also reaped the benefits of the emergence of artificial intelligence in other sectors such as the metaverse, autonomous vehicles, and healthcare technology. During the reporting period, the Fund maintained an average approximate sector allocation of 63% to Information Technology, 16% to Communication Services, and 11% to Industrials. Geographically, the Fund maintained an average exposure of 66% to the United States, 10% to China, and 4% to South Korea.

	AVERAGE TOTAL RETURN FOR THE YEAR ENDED NOVEMBER 30, 2021
	One Year Return		Three Year Return		Annualized Inception to Date*
	Net Asset Value	Market Price	Net Asset Value	Market Price	Net Asset Value	Market Price
Global X Artificial Intelligence & Technology ETF	22.60%	23.00%	31.18%	31.55%	23.92%	24.19%
Indxx Artificial Intelligence & Big Data Index	23.20%	23.20%	31.68%	31.68%	24.35%	24.35%
MSCI ACWI Index (Net)	19.27%	19.27%	15.96%	15.96%	11.84%	11.84%

	Management Discussion of Fund Performance (unaudited)
	Global X Artificial Intelligence & Technology ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on May 11, 2018.

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X Millennial Consumer ETF

Global X Millennial Consumer ETF

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

The Underlying Index measures the performance of U.S. listed companies that provide exposure to the millennial generation, (“Millennial Companies”). The millennial generation refers to the demographic cohort in the United States with birth years ranging from 1980 to 2000.

For the 12-month period ended November 30, 2021 (the “reporting period”), the Fund increased 21.33%, while the Underlying Index increased 21.96%. The Fund had a net asset value of $35.23 per share on November 30, 2020 and ended the reporting period with a net asset value of $42.68 per share on November 30, 2021.

During the reporting period, the highest returns came from Avis Budget Group, Inc. and LendingClub Corp, which returned 680.75% and 310.02%, respectively. The worst performers were Chegg, Inc. and Vimeo, Inc., which returned -64.26% and -62.92%, respectively.

Companies directed towards millennial consumers generated positive returns over the reporting period. Millennials, currently the largest generation in the United States, are heading toward their prime spending years and they spend differently than past generations. Themes such as streaming services, retail, and social media emerged as frontrunners during the COVID-19 pandemic, pushing Fund performance higher. Millennials also broadly benefited from a strong consumer environment in the United States during the reporting period as a recent rise in jobs and wage growth fueled a robust economic recovery. To gain exposure to these segments, the Fund maintained an average approximate sector allocation of allocated on average approximately 40% to Consumer Discretionary, 30% to Communication Services, and 16% to Information Technology during the reporting period.

	AVERAGE TOTAL RETURN FOR THE YEAR ENDED NOVEMBER 30, 2021
	One Year Return		Three Year Return		Five Year Return		Annualized Inception to Date*
	Net Asset Value	Market Price	Net Asset Value	Market Price	Net Asset Value	Market Price	Net Asset Value	Market Price
Global X Millennial Consumer ETF	21.33%	21.36%	26.00%	25.97%	22.89%	22.85%	21.21%	21.11%
Indxx Millennials Thematic Index	21.96%	21.96%	26.67%	26.67%	23.50%	23.50%	21.77%	21.77%
S&P 500^®Index	27.92%	27.92%	20.38%	20.38%	17.90%	17.90%	17.65%	17.65%

	Management Discussion of Fund Performance (unaudited)
	Global X Millennial Consumer ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on May 4, 2016.

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

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X Education ETF

Global X Education ETF

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

The Underlying Index is designed to track the performance of companies listed in developed and emerging markets that provide products and services that facilitate education, including but not limited to companies involved in online learning and educational content/publishing, as well as early childhood education, higher education and professional education.

For the 12-month period ended November 30, 2021 (the “reporting period”), the Fund decreased 44.30%, while the Underlying Index decreased 44.02%. The Fund had a net asset value of $17.14 per share on November 30, 2020 and ended the reporting period with a net asset value of $9.54 per share on November 30, 2021.

During the reporting period, the highest returns derived from Houghton Mifflin Harcourt Company and MegaStudyEdu Co. Ltd, which returned 416.94% and 86.21%, respectively. The worst performers included Gaotu Techedu Inc. Sponsored ADR Class A and 17 Education & Technology Group, Inc., which returned -95.85% and -92.66%, respectively.

Many of the benefits education stocks experienced in the initial stages of the COVID-19 pandemic faded as growth expectations of these companies slowed during the reporting period. In addition, Chinese education companies significantly hampered performance as new regulations limited their pursuit of profitability and banned certain products and services. Over the reporting period the average approximate sector weighting of the Fund were highest in consumer discretionary (60%), followed by Information Technology (20%) and Communication Services (19%). Geographically, the Fund maintained an average allocation of (50%) to United States stocks, followed by China (21%) and the United Kingdom (8%).

	AVERAGE TOTAL RETURN FOR THE YEAR ENDED NOVEMBER 30, 2021
	One Year Return		Annualized Inception to Date*
	Net Asset Value	Market Price	Net Asset Value	Market Price
Global X Education ETF	-44.30%	-44.60%	-28.44%	-28.60%
Indxx Global Education Thematic Index	-44.02%	-44.02%	-28.05%	-28.05%
MSCI ACWIIndex (Net)	19.27%	19.27%	25.27%	25.27%

	Management Discussion of Fund Performance (unaudited)
	Global X Education ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on July 10, 2020.

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X Cannabis ETF

Global X Cannabis ETF

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

The Underlying Index provide exposure to exchange-listed companies that are active in the cannabis industry as defined by Solactive AG, the provider of the Underlying Index (“Index Provider”). In order to be eligible for inclusion in the Cannabis Index, a company is considered by the Index Provider to be a “Cannabis Company” if it derives at least 50% of its revenue, operating income, or assets from the cannabis industry. These companies include those involved in the following areas of the cannabis industry: (i) the legal production, growth and distribution of marijuana, as well as extracts, derivative products or synthetic versions thereof; (ii) the legal production, growth and distribution of hemp, as well as extracts, derivative products or synthetic versions thereof; (iii) financial services (insurance offerings, property leasing, financing, capital markets activity and investments) provided to companies involved in the production, growth and distribution of cannabis; (iv) pharmaceutical applications of cannabis; (v) cannabidiol (better known as CBD) and cannabis oil products, edibles, topicals, drinks and other products; and (vi) products that may be used to consume cannabis.

For the 12-month period ended November 30, 2021 (the “reporting period”), the Fund decreased 38.79%, while the Underlying Index decreased 39.98%. The Fund had a net asset value of $12.05 per share on November 30, 2020 and ended the reporting period with a net asset value of $7.22 per share on November 30, 2021.

During the reporting period, the highest returns came from Aphria Inc. and GW Pharmaceuticals PLC which returned 59.58% and 56.31%, respectively. The worst performers were Flora Growth Corp. and Charlottes Web Holdings Inc., which returned -88.20% and -75.11%, respectively.

Developing market dynamics and a lack of action toward legalizing cannabis at the Federal level in the United States resulted in a negative performance for the Fund over the reporting period. An opportunity for legal participants could come in the form of Federal legalization in the United States, which would grant relevant companies access to basic financing and tax advantages. After members of the Democratic party won control of the United States Congress and the Presidency, investor enthusiasm increased surrounding Cannabis Companies, as many anticipated potential initiatives to legalize recreational cannabis. However, a lack of notable action on this front ultimately discouraged investors and resulted in a prolonged selloff during the reporting period. During the reporting period, the Fund saw an average approximate sector allocation of 93% to Health care and 4% to Financials. Geographically, the fund maintained an average allocation of 78% to stocks in Canada, followed by the United States (16%) and Britain (4%).

	AVERAGE TOTAL RETURN FOR THE YEAR ENDED NOVEMBER 30, 2021
	One Year Return		Annualized Inception to Date*
	Net Asset Value	Market Price	Net Asset Value	Market Price
Global X Cannabis ETF	-38.79%	-38.33%	-40.51%	-40.87%
Cannabis Index	-39.98%	-39.98%	-43.65%	-43.65%
MSCI ACWI Index (Net)	19.27%	19.27%	17.59%	17.59%

	Management Discussion of Fund Performance (unaudited)
	Global X Cannabis ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on September 17, 2019.

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X Genomics & Biotechnology ETF

Global X Genomics & Biotechnology ETF

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

The Underlying Index tracks companies that are active in the field of genomics (“Genomics Companies”), as defined by Solactive AG, the provider of the Underlying Index (“Index Provider”). According to the Index Provider, Genomics Companies include those involved in the following business activities: gene editing, genomic sequencing, development and testing of genetic medicine or therapies, computational genomics and genetic diagnostics or biotechnology.

For the 12-month period ended November 30, 2021 (the “reporting period”), the Fund decreased 1.77%, while the Underlying Index decreased 1.39%. The Fund had a net asset value of $21.01 per share on November 30, 2020 and ended the reporting period with a net asset value of $20.61 per share on November 30, 2021.

During the reporting period, the highest returns derived from Genscript Biotech Corporation and Intellia Therapeutics, Inc., which returned 266.00% and 192.87%, respectively. The worst performers included Adverum Biotechnologies Inc and Cellectis SA Sponsored ADR, which returned -87.20% and -66.02%, respectively.

The Fund generated mild losses as fluctuations in demand for COVID-19 testing controlled sentiment toward Genomics Companies during the reporting period. For much of the reporting period, investors flocked to Genomics Companies because of their relevance to the COVID-19 pandemic. However, as vaccine campaigns ramped up around globe and demand for testing fell, sentiments turned against diagnostics companies. Biotech firms hampered performance as investors favored other industries as the COVID-19 pandemic developed. During the reporting period, the Fund was invested 100% in the Healthcare sector. Geographically, the Fund maintained an average allocation of 85% to stocks in the United States, followed by the Netherlands (5%) and Switzerland (4%).

	AVERAGE TOTAL RETURN FOR THE YEAR ENDED NOVEMBER 30, 2021
	One Year Return		Annualized Inception to Date*
	Net Asset Value	Market Price	Net Asset Value	Market Price
Global X Genomics & Biotechnology ETF	-1.77%	-2.06%	12.00%	12.70%
Solactive Genomics Index	-1.39%	-1.39%	12.57%	12.57%
MSCI ACWI Index (Net)	19.27%	19.27%	15.45%	15.45%

	Management Discussion of Fund Performance (unaudited)
	Global X Genomics & Biotechnology ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on April 5, 2019.

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X China Biotech Innovation ETF

Global X China Biotech Innovation ETF

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

The Underlying Index is designed to provide exposure to exchange-listed companies that are directly involved in China’s biotech industry. In constructing the Underlying Index, Solactive utilizes FactSet Industry classifications to identify companies that are directly involved in the biotechnology industry. Only those securities classified in the biotechnology industry according to FactSet as of each rebalance date are eligible for inclusion in the Underlying Index. The Underlying Index is weighted according to a modified capitalization weighting methodology and is reconstituted and re-weighted semi-annually.

For the 12-month period ended November 30, 2021 (the “reporting period”), the Fund increased 7.26%, while the Underlying Index increased 7.91%. The Fund had a net asset value of $14.88 per share on November 30, 2020 and ended the reporting period with a net asset value of $15.96 per share on November 30, 2021.

During the reporting period, the highest returns derived from Genscript Biotech Corporation and Joinn Laboratories Co., Ltd. Class A, which returned 266.00% and 122.96%, respectively. The worst performers included JW Therapeutics Co. Ltd. and Berry Genomics Co. Ltd. Class A, which returned -54.04% and -44.11%, respectively.

The Fund delivered moderate returns during the reporting period as sentiment towards Chinese biotech equities benefitted from the announcement of the 14th Five-Year Plan (“FYP”), in spite of declining sentiment towards Chinese equities more broadly. Some Chinese biotech stocks, including major holdings in the Fund, followed a long rally that began with the outbreak of COVID-19 in January 2020 and carried over into the beginning of the reporting period. The COVID-19 pandemic highlighted the need for innovative healthcare and pharmaceuticals. Chinese biotech equities were not immune to declining sentiment and regulatory issues, but the reveal of the 14th FYP boosted expectations for Chinese biotech stocks. As the reporting period progressed, challenging regulations against education and technology companies likely detracted from the Fund’s performance. Furthermore, American Depositary Receipts in the Fund, especially those making use of the variable interest entity (“VIE”) structure, were adversely impacted by heightened scrutiny, particularly after the United States Securities and Exchange Commission published a letter in July regarding risks associated with VIEs. During the reporting period, the Fund saw an average approximate allocation of 96% to Health Care, 4% to Consumer Staples, and 0.1% to Consumer Discretionary. It maintained an average allocation of 96% to China, and 4% to Hong Kong.

	AVERAGE TOTAL RETURN FOR THE YEAR ENDED NOVEMBER 30, 2021
	One Year Return		Annualized Inception to Date*
	Net Asset Value	Market Price	Net Asset Value	Market Price
Global X China Biotech Innovation ETF	7.26%	7.11%	4.83%	4.88%
Solactive China Biotech Innovation Index	7.91%	7.91%	5.49%	5.49%
MSCI Emerging Markets Index (Net)	2.70%	2.70%	12.03%	12.03%

	Management Discussion of Fund Performance (unaudited)
	Global X China Biotech Innovation ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on September 22, 2020.

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

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X Telemedicine & Digital Health ETF

Global X Telemedicine & Digital Health ETF

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

The Underlying Index is designed to provide exposure to exchange-listed companies that are positioned to benefit from further advances in the field of telemedicine and digital health, as well as applications thereof (collectively, “Telemedicine & Digital Health Companies”), as defined by Solactive AG, the provider of the Underlying Index (the “Index Provider”). In order to be eligible for inclusion in the Underlying Index, a company is considered by the Index Provider to be a Telemedicine & Digital Health Company if it derives at least 50% of its revenue from telemedicine and/or digital health related business operations. Telemedicine & Digital Health Companies include those involved in the following business activities: (i) telemedicine, (ii) healthcare analytics, (iii) connected healthcare devices, and/or (iv) administrative digitization.

For the 12-month period ended November 30, 2021 (the “reporting period”), the Fund decreased 11.32%, while the Underlying Index decreased 10.76%. The Fund had a net asset value of $18.41 per share on November 30, 2020 and ended the reporting period with a net asset value of $16.32 per share on November 30, 2021.

During the reporting period, the highest returns derived from OptimizeRx Corporation and Inovalon Holdings, Inc. Class A, which returned 146.03% and 119.93%, respectively. The worst performers included Ontrak, Inc. and SmileDirectClub Inc Class A, which returned -87.77% and -75.04%, respectively.

The Fund’s losses over the reporting period could be attributed to uncertainty around the future operations of Telemedicine & Digital Health Companies when the effects of the COVID-19 pandemic have subsided. While performance was strong during the height of the global COVID-19 pandemic, performance turned negative as growth expectations moderated for Telemedicine & Digital Health Companies as the effects of the COVID-19 pandemic waned. Concerns over rolled back coverage for digital healthcare services in some markets as well as declining telemedicine appointments during the COVID-19 pandemic were contributing factors in the selloff. Over the reporting period the average approximate sector weightings of the Fund were reported to be the highest in Healthcare, at 91%, followed by Information Technology at 5%. Geographically, the Fund maintained an average allocation of 84% to United States stocks, followed by China (5%) and Japan (4%).

	AVERAGE TOTAL RETURN FOR THE YEAR ENDED NOVEMBER 30, 2021
	One Year Return		Annualized Inception to Date*
	Net Asset Value	Market Price	Net Asset Value	Market Price
Global X Telemedicine & Digital Health ETF	-11.32%	-11.47%	5.33%	5.28%
Solactive Telemedicine & Digital Health Index	-10.76%	-10.76%	5.96%	5.96%
MSCI ACWI Index (Net)	19.27%	19.27%	24.00%	24.00%

	Management Discussion of Fund Performance (unaudited)
	Global X Telemedicine & Digital Health ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on July 29, 2020.

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X Aging Population ETF

Global X Aging Population ETF

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

The Underlying Index is designed to track the performance of companies listed in developed markets that are expected to directly or indirectly contribute to increasing the life spans of the senior population of the world. The Underlying Index provides access to companies involved in biotechnology, medical devices, pharmaceuticals, senior living facilities, and specialized health care services that respond to the needs of this demographic.

For the 12-month period ended November 30, 2021 (the “reporting period”), the Fund increased 2.51%, while the Underlying Index increased 2.71%. The Fund had a net asset value of $26.82 per share on November 30, 2020 and ended the reporting period with a net asset value of $27.41 per share on November 30, 2021.

During the reporting period, the highest returns derived from Straumann Holding AG and DexCom, Inc, which returned 84.59% and 75.99%, respectively. The worst performers were Epizyme, Inc and FibroGen, Inc, which returned -76.20% and 69.72%, respectively.

Businesses dedicated to serving aging populations had flat returns during the reporting period. The COVID-19 pandemic caused many pharmaceutical companies to invest in innovation across the healthcare sector geared towards containing COVID-19. Biotech companies also lagged in performance, as high sales expectations began to subside. However, health care equipment companies provided a ballast to the Fund, as these companies recorded strong performance. Over the reporting period, the Fund saw an average approximate allocation of 95% to Healthcare Equipment and 5% to Real Estate. Geographically, the Fund maintained an average allocation to the United States (58%), followed by Switzerland (7%), and Denmark (7%).

	AVERAGE TOTAL RETURN FOR THE YEAR ENDED NOVEMBER 30, 2021
	One Year Return		Three Year Return		Five Year Return		Annualized Inception to Date*
	Net Asset Value	Market Price	Net Asset Value	Market Price	Net Asset Value	Market Price	Net Asset Value	Market Price
Global X Aging Population ETF	2.51%	2.70%	10.73%	10.66%	13.57%	13.60%	11.92%	12.40%
Indxx Aging Population Thematic Index	2.71%	2.71%	10.95%	10.95%	13.85%	13.85%	12.21%	12.21%
MSCI ACWI Index (Net)	19.27%	19.27%	15.96%	15.96%	13.99%	13.99%	13.64%	13.64%

	Management Discussion of Fund Performance (unaudited)
	Global X Aging Population ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on May 9, 2016.

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X Health & Wellness ETF

Global X Health & Wellness ETF

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

The Underlying Index is designed to track the performance of companies listed in developed markets that provide products and services aimed at promoting physical wellness through active and healthy lifestyles, including but not limited to fitness equipment and technology, athletic apparel, nutritional supplements, and organic/ natural food offerings.

For the 12-month period ended November 30, 2021 (the “reporting period”), the Fund increased 16.90%, while the Underlying Index increased 17.25%. The Fund had a net asset value of $24.11 per share on November 30, 2020 and ended the reporting period with a net asset value of $28.04 per share on November 30, 2021.

During the reporting period, the highest returns derived from Xtep International Holdings Limited and Descente, Ltd., which returned 224.31% and 145.57%, respectively. The worst performers included Peloton Interactive, Inc. Class A and Nautilus Inc, which returned -62.18% and -58.78%, respectively.

The COVID-19 pandemic resulted in a renewed focus on healthy living and wellness, resulting in a positive performance for the Fund over the reporting period. Social distancing behaviors created a significant opportunity for digital fitness providers to address consumer needs during the height of the COVID-19 pandemic. Investors flocked to the biggest names in digital fitness at the beginning of the reporting period, which offset some of the losses the Fund experienced from in-person provider performance towards the end of the reporting period. The introduction of vaccines and loosening of social distancing measures allowed in-person fitness companies to mount strong comebacks, with many gyms now reporting membership levels comparable to before the COVID-19 pandemic. Overall, the COVID-19 pandemic generated challenges for the components of the Underlying Index, but it also created opportunities that attracted investor interest over the reporting period. During reporting period, the Fund had an average approximate sector allocation of 73% to Consumer Discretionary, 20% to Consumer Staples, and 5% to Healthcare. Geographically, the Fund maintained an average exposure of 41% to the United States, followed by 13% to Japan, and 11% to China.

	AVERAGE TOTAL RETURN FOR THE YEAR ENDED NOVEMBER 30, 2021
	One Year Return		Three Year Return		Five Year Return		Annualized Inception to Date*
	Net Asset Value	Market Price	Net Asset Value	Market Price	Net Asset Value	Market Price	Net Asset Value	Market Price
Global X Health & Wellness ETF	16.90%	17.69%	15.37%	15.56%	14.93%	15.05%	12.78%	13.13%
Indxx Global Health & Wellness Thematic Index	17.25%	17.25%	15.80%	15.80%	15.37%	15.37%	13.23%	13.23%
MSCI ACWI Index (Net)	19.27%	19.27%	15.96%	15.96%	13.99%	13.99%	13.63%	13.63%

	Management Discussion of Fund Performance (unaudited)
	Global X Health & Wellness ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on May 9, 2016.

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X CleanTech ETF

Global X CleanTech ETF

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

The Underlying Index is maintained by Indxx LLC (the “Index Provider”). The Underlying Index is designed to track the performance of companies that develop technology or equipment that enables the production of energy from renewable sources, efficient utilization of energy and reduction of negative environmental influences (collectively “CleanTech Companies”), as defined by the Index Provider. CleanTech Companies include, but are not limited to, companies whose principal business is in developing technology relating to renewable energy, energy efficiency, smart grid implementation, lithium-ion batteries and/or fuel cells, and/or pollution prevention/amelioration.

For the 12-month period ended November 30, 2021 (the “reporting period”), the Fund increased 7.48%, while the Underlying Index increased 5.00%. The Fund had a net asset value of $19.02 per share on November 30, 2020 and ended the reporting period with a net asset value of $20.43 per share on November 30, 2021.

During the reporting period, the highest returns derived from GCL-Poly Energy Holdings Limited and Ameresco, Inc. Class A, which returned 149.58% and 102.76%, respectively. The worst performers included TPI Composites, Inc. and QuantumScape Corporation Class A, which returned -55.68% and -51.40%, respectively.

The Fund generated positive performance even as supply chain disturbances represented a major headwind for CleanTech Companies over the reporting period. Renewable energy equipment manufacturers are one of many cohorts that suffered from supply chain disturbances related to the COVID-19 pandemic. Heightened materials costs, labor shortages, and shipping delays limited the ability of renewable energy equipment manufacturers to move products downstream. Additionally, a departure from growth-oriented strategies and recovering sentiment toward traditional oil and gas hampered returns. However, long term tailwinds for renewable energy adoption remained intact through the COVID-19 pandemic and generated enough interest to keep performance positive during the reporting period. As the adverse impacts of climate change continued to be felt broadly, governments around the world increasingly turned to renewable energy production to accommodate rising power demand. During the reporting period, average sector weighting of the Fund was reported to be the highest in Industrials, at 46%, followed by Information Technology at 45%. Geographically, the Fund had an average exposure of 30% to the United States, followed by 13% to South Korea, and 12% to China.

	AVERAGE TOTAL RETURN FOR THE YEAR ENDED NOVEMBER 30, 2021
	One Year Return		Annualized Inception to Date*
	Net Asset Value	Market Price	Net Asset Value	Market Price
Global X CleanTech ETF	7.48%	7.07%	32.15%	31.55%
Indxx Global CleanTech Index	5.00%	5.00%	29.42%	29.42%
MSCI ACWI Index (Net)	19.27%	19.27%	26.39%	26.39%

	Management Discussion of Fund Performance (unaudited)
	Global X CleanTech ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on October 27, 2020.

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X U.S. Infrastructure Development ETF

Global X U.S. Infrastructure Development ETF

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

The Underlying Index is designed to measure the performance of U.S. listed companies that provide exposure to domestic infrastructure development, including companies involved in construction and engineering, production of infrastructure raw materials, composites and products, industrial transportation and producers/distributors of heavy construction equipment.

For the 12-month period ended November 30, 2021 (the “reporting period”), the Fund increased 34.90%, while the Underlying Index increased 35.72%. The Fund had a net asset value of $20.24 per share on November 30, 2020 and ended the reporting period with a net asset value of $27.19 per share on November 30, 2021.

During the reporting period, the highest returns came from Herc Holdings, Inc. and Calix, Inc., which returned 198.39% and 182.77%, respectively. The worst performers were Team, Inc. and Argan, Inc., which returned -84.50% and -10.75%, respectively.

After months of deliberations, in November 2021 U.S. lawmakers passed the Infrastructure Investment and Jobs Act (“IIJA”), an unprecedented infrastructure package, generating investor enthusiasm toward infrastructure related investments and a strong performance from the Fund during the reporting period. The IIJA could act as a long-term tailwind for infrastructure related investments. Besides positive sentiment toward the IIJA, the Fund also generally benefitted from historically low interest rates which made public-private-partnerships more attractive over the reporting period. Rising commodity prices also helped certain companies the Fund is invested in. During the reporting period, the Fund saw an average approximate allocation of 71% to Industrials, 21% to Materials, and 3% to Information Technology.

	AVERAGE TOTAL RETURN FOR THE YEAR ENDED NOVEMBER 30, 2021
	One Year Return		Three Year Return		Annualized Inception to Date*
	Net Asset Value	Market Price	Net Asset Value	Net Asset Value	Market Price	Net Asset Value
Global X U.S. Infrastructure Development ETF	34.90%	34.73%	21.29%	21.30%	14.01%	14.03%
Indxx U.S. Infrastructure Development Index	35.72%	35.72%	21.89%	21.89%	14.56%	14.56%
S&P 500^®Index	27.92%	27.92%	20.38%	20.38%	16.92%	16.92%

	Management Discussion of Fund Performance (unaudited)
	Global X U.S. Infrastructure Development ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on March 6, 2017.

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

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X Thematic Growth ETF

Global X Thematic Growth ETF

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

The Underlying Index seeks to provide broad exposure to thematic growth strategies using a portfolio of exchange-traded funds each of which is issued by Global X Funds (the “Underlying ETFs”). The share prices of the Underlying ETFs are expected to track the performance of equities in developed or emerging markets that provide exposure to structurally disruptive macro-trends. The Underlying ETFs are selected and weighted by calculating the weighted average sales growth for each Underlying ETF.

For the 12-month period ended November 30, 2021 (the “reporting period”), the Fund increased 12.95%, while the Underlying Index increased 12.39%. The Fund had a net asset value of $42.45 per share on November 30, 2020 and ended the reporting period with a net asset value of $47.65 per share on November 30, 2021.

During the reporting period, the highest returns came from Global X Lithium & Battery Tech ETF and Global X Robotics & Artificial Intelligence ETF, which returned 78.41% and 14.57%, respectively. The worst performers were Global X Cannabis ETF and Global X Renewable Energy Producers ETF, which returned -38.58% and -3.83%, respectively.

During the reporting period, investors benefitted from the allocation of Global X Lithium & Battery Tech ETF due to increased lithium demand for electric vehicle battery technology. Alternatively, performance was more negative for Global X Cannabis ETF while cannabis companies plunged from their highs earlier in the year as legalization efforts eased, especially in the U.S. During the reporting period, the Fund had an average approximate allocation of 19% to Global X Fintech ETF, 18% to Global X Genomics & Biotechnology ETF, 17% to Global X Cloud Computing ETF, 12% to Global X Cannabis ETF, 11% to Global X Social Media ETF, 11% to Global X Lithium & Battery Tech ETF and 10% to Global X Robotics & Artificial Intelligence ETF. Among sectors, the Fund had an average approximate allocation of 34% to Information Technology, 31% to Health Care, 12% to Communication Services, 7% to Industrials and 5% to Minerals.

	AVERAGE TOTAL RETURN FOR THE YEAR ENDED NOVEMBER 30, 2021
	One Year Return		Annualized Inception to Date*
	Net Asset Value	Market Price	Net Asset Value	Market Price
Global X Thematic Growth ETF	12.95%	13.08%	36.03%	36.76%
Solactive Thematic Growth Index	12.39%	12.39%	35.63%	35.63%
MSCI ACWI Index (Net)	19.27%	19.27%	17.86%	17.86%

	Management Discussion of Fund Performance (unaudited)
	Global X Thematic Growth ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on October 25, 2019.

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X AgTech & Food Innovation ETF

Global X AgTech & Food Innovation ETF

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

The Underlying Index is designed to provide exposure to companies that are positioned to benefit from further advances in the fields of agricultural technology (“AgTech”) and food innovation. Specifically, the Underlying Index will include securities issued by “AgTech & Food Innovation Companies” as defined by Solactive AG, the provider of the Underlying Index (the “Index Provider”).

From the inception of the Fund to period ended November 30, 2021 (the “reporting period”), the Fund decreased 22.02%, while the Underlying Index decreased 21.91%. The Fund had a net asset value of $25.34 per share on July 12, 2021 and ended the reporting period with a net asset value of $19.76 per share on November 30, 2021.

During the reporting period, the highest returns came from Marfrig Alimentos SA and ICL Group Ltd., which returned 38.45% and 32.58%, respectively. The worst performers were AppHarvest, Inc. and GrowGeneration Corp., which returned -65.42% and -64.73%, respectively.

Supply chain disruption attributable to the COVID-19 pandemic as well as general market dynamics contributed to the Fund’s negative performance over the reporting period. Although alternative foods are more input-efficient than traditional agricultural products, producers were unable to avoid labor shortages and distribution difficulties. These COVID-19 pandemic-related externalities, as well as general hesitancy toward growth strategies in the second half of the reporting period, were responsible for the Fund’s negative performance. During the reporting period, the Fund had an average approximate allocation of 38% to Consumer Staples, 35% to Materials and 21% to Industrials. Geographically, the Fund had an average allocation of 60% to the United States, 15% to Canada, and 9% to Sweden.

	AVERAGE TOTAL RETURN FOR THE PERIOD ENDED NOVEMBER 30, 2021
	Cumulative Inception to Date*
	Net Asset Value	Market Price
Global X AgTech & Food Innovation ETF	-22.02%	-21.39%
Solactive AgTech & Food Innovation Index	-21.91%	-21.91%
MSCI ACWI Index (Net)	0.42%	0.42%

	Management Discussion of Fund Performance (unaudited)
	Global X AgTech & Food Innovation ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on July 12, 2021.

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X Blockchain ETF

Global X Blockchain ETF

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

The Underlying Index is maintained by Solactive, AG (the “Index Provider”). The Underlying Index represents securities of companies that have business operations in the provision of blockchain technologies as defined by the Index Provider.

From the inception of the Fund to period ended November 30, 2021 (the “reporting period”), the Fund increased 29.27%, while the Underlying Index increased 29.22%. The Fund had a net asset value of $25.01 per share on July 12, 2021 and ended the reporting period with a net asset value of $32.33 per share on November 30, 2021.

During the reporting period, the highest returns derived from Hut 8 Mining Corp and Bitfarms Ltd, which returned 170.43% and 113.84%, respectively. The worst performers included Greenbox and SOS Limited, which returned -54.62% and 54.29%, respectively.

Blockchain and cryptocurrency related investments generally enjoyed positive returns over the reporting period. Digital currencies gained traction as mainstream adoption continued and investors increasingly sought ways to integrate blockchain exposure into their portfolios. As bitcoin prices rapidly grew, companies and investors reaped the benefits. Over the reporting period, digital wallets became increasingly common as major retailers and platforms integrated them into business operations. Blockchain also entered emerging industries, such as gaming and virtual reality, relying heavily on the popularity of non-fungible tokens (NFTs). Globally, financial institutions began to accept digital currencies as a legitimate asset class by establishing cryptocurrency streams, while governments continued to issue central bank digital currencies (CBDC). During the reporting period, the Fund had an average approximate allocation of 75% to Information Technology, 19% to Financials, and 3% to Industrials. It maintained an average allocation of 61% to the United States, 18% to Canada, and 10% to China.

	AVERAGE TOTAL RETURN FOR THE PERIOD ENDED NOVEMBER 30, 2021
	Cumulative Inception to Date*
	Net Asset Value	Market Price
Global X Blockchain ETF	29.27%	29.51%
Solactive Blockchain Index	29.22%	29.22%
MSCI ACWI Index (Net)	0.42%	0.42%

	Management Discussion of Fund Performance (unaudited)
	Global X Blockchain ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on July 12, 2021.

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X Clean Water ETF

Global X Clean Water ETF

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

The Underlying Index is designed to provide exposure to exchange-listed companies expected to benefit from further advances in the provision of clean water, including but not limited to, companies whose principal business involves water treatment, recycling (including water reclamation), purification, desalination, storage, distribution, and/or sustainability (collectively, “Clean Water Companies”), as defined by Solactive AG, the provider of the Underlying Index (“Index Provider”).

From the inception of the Fund to period ended November 30, 2021 (the “reporting period”), the Fund increased 11.52%, while the Underlying Index increased 11.74%. The Fund had a net asset value of $15.04 per share on April 8, 2021 and ended the reporting period with a net asset value of $16.73 per share on November 30, 2021.

During the reporting period, the highest returns derived from Evoqua Water Technologies Corp and Watts Water Technologies, Inc. Class A, which returned 65.92% and 61.46%, respectively. The worst performers included Vow ASA and Aguas Andinas SA Class A, which returned -50.12% and -26.59%, respectively.

Heavily publicized climate events and relevant U.S. legislation contributed to strong Fund performance over the reporting period. Droughts in many regions including the western United States, Brazil, and China constricted water supplies. In many cases the resulting water shortages led to agricultural limitations, manufacturing delays, and hydropower plant shutdowns. These droughts highlighted the worsening issue of water scarcity and drew attention to Clean Water Companies. Additionally, investors were encouraged by negotiations surrounding the Infrastructure Investment and Jobs Act (“IIJA”), which carried on throughout the reporting period. The IIJA, which was passed in November 2021, directs billions toward retrofitting aging U.S. water infrastructure as well as fortifying relevant utilities against climate change and cyberattacks. The IIJA could constitute a major tailwind for the theme over the next decade. During the reporting period, the Fund had an average approximate allocation of 46% to Utilities, 41% to Industrials, and 9% to Materials. Geographically, the Fund maintained an average exposure of 61% to the United States, followed by 19% to the United Kingdom, and 4% to France.

	AVERAGE TOTAL RETURN FOR THE PERIOD ENDED NOVEMBER 30, 2021
	Cumulative Inception to Date*
	Net Asset Value	Market Price
Global X Clean Water ETF	11.52%	11.79%
Solactive Clean Water Industry Index	11.74%	11.74%
MSCI ACWI Index (Net)	5.92%	5.92%

	Management Discussion of Fund Performance (unaudited)
	Global X Clean Water ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on April 8, 2021.

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X Hydrogen ETF

Global X Hydrogen ETF

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

The Underlying Index is designed to provide exposure to companies that are positioned to benefit from further advances in the field of hydrogen technology. Hydrogen technology includes products and services focused on the development and implementation of hydrogen gas as a renewable fuel source. Hydrogen technology may play an important role in the transition toward renewable energy and fossil fuels. Specifically, the Underlying Index includes securities issued by “Hydrogen Companies” as defined by Solactive AG, the provider of the Underlying Index (the “Index Provider”).

From the inception of the Fund to period ended November 30, 2021 (the “reporting period”), the Fund decreased 2.64%, while the Underlying Index decreased 2.49%. The Fund had a net asset value of $25.04 per share on July 12, 2021 and ended the reporting period with a net asset value of $24.38 per share on November 30, 2021.

During the reporting period, the highest returns derived from Plug Power Inc. and Bloom Energy Corporation Class A, which returned 37.32% and 20.47%, respectively. The worst performers included Cell Impact AB and Xebec Adsorption Inc., which returned -48.14% and -37.92%, respectively.

The Fund’s mild losses over the reporting period were attributable to early adoption levels for hydrogen as a next-generation fuel source and energy storage option. Several new policies, such as the Infrastructure Investment and Jobs Act in the United States, as well as updated sustainability goals in the European Union, highlighted green hydrogen capacity expansion as a future priority. Such initiatives could become strong drivers for Hydrogen Companies but were unable to counteract a general pullback from growth strategies toward the end of the reporting period. During the reporting period, the Fund saw an average approximate allocation of 92% to Industrials, 3% to Energy, and 3% to Materials. It maintained an average allocation of 41% to the United States, 16% to Canada, and 10% to the United Kingdom.

	AVERAGE TOTAL RETURN FOR THE PERIOD ENDED NOVEMBER 30, 2021
	Cumulative Inception to Date*
	Net Asset Value	Market Price
Global X Hydrogen ETF	-2.64%	-2.96%
Solactive Global Hydrogen Index	-2.49%	-2.49%
MSCI ACWI Index (Net)	0.42%	0.42%

	Management Discussion of Fund Performance (unaudited)
	Global X Hydrogen ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on July 12, 2021.

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X Solar ETF

Global X Solar ETF

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

The Underlying Index is designed to provide exposure to companies that are positioned to benefit from further advances in the field of solar technology. Specifically, the Underlying Index consists of securities issued by “Solar Companies” as defined by Solactive AG, the provider of the Underlying Index (the “Index Provider”).

From the inception of the Fund to period ended November 30, 2021 (the “reporting period”), the Fund increased 6.24%, while the Underlying Index increased 6.36%. The Fund had a net asset value of $24.19 per share on September 8, 2021 and ended the reporting period with a net asset value of $25.70 per share on November 30, 2021.

During the reporting period, the highest returns came from Risen Energy Co., Ltd. Class A and Enphase Energy, Inc. which returned 65.45% and 53.02%, respectively. The worst performers were Esenboga Elektrik Uretim AS and IRICO Group New Energy Co. Ltd. Class H, which returned -43.87% and -35.95%, respectively.

Solar Companies had modest returns during the reporting period in the face of COVID-19 pandemic-related supply chain issues and geopolitical considerations. Labor shortages and high commodity prices heightened solar component costs during the reporting period, reducing profit margins. Particularly in the United States, where solar supply chains are decentralized, high shipping costs and frequent delays negatively affected investor sentiment toward affected companies. Additionally, investors reacted negatively when the United States considered enforcing tariffs on select Chinese solar components, a move that would drastically reduce availability of photovoltaic cells to operators in the United States. Tensions cooled on this front toward the end of the reporting period, though nonetheless this geopolitical event contributed to volatility. Over the reporting period, the Fund had an average sector allocation of 63% to Information Technology, followed by Industrials (19%) and Utilities (15%). Geographically, the Fund had an average allocation of 53% to China, 22% to United States, and 8% to Israel.

	AVERAGE TOTAL RETURN FOR THE PERIOD ENDED NOVEMBER 30, 2021
	Cumulative Inception to Date*
	Net Asset Value	Market Price
Global X Solar ETF	6.24%	6.04%
Solactive Solar Index	6.36%	6.36%
MSCI ACWI Index (Net)	-1.91%	-1.91%

	Management Discussion of Fund Performance (unaudited)
	Global X Solar ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on September 8, 2021.

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

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

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

See definition of comparative indices on the previous page and above.

	Management Discussion of Fund Performance (unaudited)
	Global X Wind Energy ETF

Global X Wind Energy ETF

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

The Underlying Index is designed to provide exposure to companies that are positioned to benefit from further advances in the field of wind energy technology. Specifically, the Underlying Index will include securities issued by “Wind Energy Companies” as defined by Solactive AG, the provider of the Underlying Index.

From the inception of the Fund to period ended November 30, 2021 (the “reporting period”), the Fund decreased 4.27%, while the Underlying Index decreased 4.13%. The Fund had a net asset value of $24.82 per share on September 8, 2021 and ended the reporting period with a net asset value of $23.76 per share on November 30, 2021.

During the reporting period, the highest returns came from Jinlei Technology Co., Ltd. Class A and Ming Yang Smart Energy Group Limited Class A which returned 47.85% and 40.73%, respectively. The worst performers were TPI Composites, Inc. and CS Bearing Co., Ltd., which returned -49.35% and -35.65%, respectively.

Wind Energy Companies were subject to supply chain disruption and unfavorable weather conditions which resulted in a negative performance for the Fund during the reporting period. Increases in the cost of materials, labor shortages, and shipping complications related to the COVID-19 pandemic hurt margins for wind companies. Although domestic turbine production is increasing in many markets, wind energy supply chains were not insulated against these disruptions. Additionally, wind conditions were unusually poor for energy production over the reporting period resulting in negative investor sentiment. The effects of these suboptimal conditions were most clear in Europe, where disappointing wind production contributed to well-publicized power shortages. Long term optimism about favorable renewable energy policies and increasing urgency to fight climate change helped balance performance. Over the reporting period, the Fund had an average sector allocation of 52% to Industrials, followed by Utilities (39%) and Materials (8%). Geographically, the Fund had an average allocation of 42% to China, 22% to Denmark, and 16% to Canada.

	AVERAGE TOTAL RETURN FOR THE PERIOD ENDED NOVEMBER 30, 2021
	Cumulative Inception to Date*
	Net Asset Value	Market Price
Global X Wind Energy ETF	-4.27%	-4.35%
Solactive Wind Energy Index	-4.13%	-4.13%
MSCI ACWI Index (Net)	-1.91%	-1.91%

	Management Discussion of Fund Performance (unaudited)
	Global X Wind Energy ETF

Growth of a 10,000 Investment

(at Net Asset Value)

* The Fund commenced operations on September 8, 2021.

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

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

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

See definition of comparative indices on the previous page and above.

Schedule of Investments		November 30, 2021
	Global X Robotics & Artificial Intelligence ETF

Sector Weightings (Unaudited)†:

† Sector weightings percentages are based on the total market value of investments. Repurchase agreements purchased from cash collateral received for securities lending activity are included in total investments. Please see Notes 2 and 7 in Notes to Financial Statements for more detailed information.

	Shares		Value
COMMON STOCK — 99.8%
CANADA — 1.8%
Industrials — 1.8%
ATS Automation Tooling Systems ^*		1,342,476	$	49,887,614


FINLAND — 1.4%
Industrials — 1.4%
Cargotec, Cl B		804,942		37,401,236


ISRAEL — 1.5%
Consumer Discretionary — 1.5%
Maytronics		1,589,298		40,354,796


JAPAN — 34.4%
Communication Services — 0.1%
RPA Holdings ^*		1,135,556		3,720,347


Health Care — 0.2%
CYBERDYNE ^{* (A)}		1,960,558		6,336,913


Industrials — 19.2%
Daifuku ^(A)		1,284,599		102,840,327
FANUC		840,421		164,649,832
Hirata		153,617		8,076,917

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

Schedule of Investments		November 30, 2021
	Global X Robotics & Artificial Intelligence ETF

	Shares		Value
COMMON STOCK — continued
Industrials — continued
Shibaura Machine		428,534	$	12,718,830
SMC		194,647		124,541,852
Yaskawa Electric		2,376,725		106,543,927
				519,371,685


Information Technology — 14.9%
ACSL ^{* (A)}		325,084		5,018,911
AI inside ^{* (A)}		55,489		2,902,855
Keyence		392,520		243,127,672
Neural Pocket ^{* (A)}		201,662		2,980,218
Omron ^(A)		1,449,589		139,986,291
PKSHA Technology ^{* (A)}		442,372		9,069,902
				403,085,849


TOTAL JAPAN				932,514,794
SOUTH KOREA — 0.2%
Industrials — 0.2%
Rainbow Robotics ^*		381,414		5,731,324


SWITZERLAND — 11.4%
Health Care — 3.8%
Tecan Group		174,047		103,160,557


Industrials — 7.6%
ABB		5,956,795		205,275,765


TOTAL SWITZERLAND				308,436,322
UNITED KINGDOM — 2.4%
Information Technology — 2.4%
Renishaw		1,058,336		63,567,928


UNITED STATES — 46.7%
Consumer Discretionary — 1.2%
iRobot ^{* (A)}		409,612		31,093,647


Energy — 0.2%
Helix Energy Solutions Group ^*		2,167,401		6,588,899

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

Schedule of Investments		November 30, 2021
	Global X Robotics & Artificial Intelligence ETF

	Shares		Value
COMMON STOCK — continued
Financials — 7.2%
Upstart Holdings ^*		948,130	$	194,262,356


Health Care — 8.1%
Intuitive Surgical ^*		670,860		217,586,732


Industrials — 8.2%
AeroVironment ^*		359,798		29,057,286
AgEagle Aerial Systems ^{* (A)}		1,425,845		3,222,410
John Bean Technologies		461,718		72,845,249
Maxar Technologies ^(A)		1,048,284		28,707,684
TuSimple Holdings, Cl A ^{* (A)}		2,227,468		89,076,445
				222,909,074


Information Technology — 21.8%
Azenta		1,081,429		122,309,620
C3.ai, Cl A ^{* (A)}		1,416,407		52,350,403
Cerence ^*		552,696		41,551,685
FARO Technologies ^*		263,197		18,281,664
NVIDIA		1,068,056		348,997,979
Rekor Systems ^{* (A)}		685,988		4,609,839
				588,101,190


TOTAL UNITED STATES				1,260,541,898
TOTAL COMMON STOCK
(Cost $2,063,783,634)				2,698,435,912

SHORT-TERM INVESTMENT^(B)(C) — 2.8%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010%
(Cost $74,354,210)		74,354,210		74,354,210

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

Schedule of Investments		November 30, 2021
	Global X Robotics & Artificial Intelligence ETF

	Face Amount		Value
REPURCHASE AGREEMENT^(B) — 3.2%
BNP Paribas
0.030%, dated 11/30/2021, to be repurchased on 12/01/2021, repurchase price $87,378,379 (collateralized by various U.S. Treasury Obligations, ranging in par value $555,459 - $8,167,317, 0.750% - 1.130%, 02/28/2025 - 04/30/2026, with a total market value of $88,880,512)
(Cost $87,378,306)	$	87,378,306	$	87,378,306
TOTAL INVESTMENTS — 105.8%
(Cost $2,225,516,150)			$	2,860,168,428

Percentages are based on Net Assets of $2,703,488,391.

*	Non-income producing security.
(A)	This security or a partial position of this security is on loan at November 30, 2021. The total value of securities on loan at November 30, 2021 was $153,743,092.
(B)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of November 30, 2021 was $161,732,516.
(C)	The rate reported on the Schedule of Investments is the 7-day effective yield as of November 30, 2021.

Cl — Class

The following is a summary of the level of inputs used as of November 30, 2021, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	2,698,435,912	$	—	$	—	$	2,698,435,912
Short-Term Investment		74,354,210		—		—		74,354,210
Repurchase Agreement		—		87,378,306		—		87,378,306
Total Investments in Securities	$	2,772,790,122	$	87,378,306	$	—	$	2,860,168,428

For the year ended November 30, 2021, there were no transfers in or out of Level 3.

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

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

Schedule of Investments		November 30, 2021
	Global X Internet of Things ETF

Sector Weightings (Unaudited)†:

	Shares		Value
COMMON STOCK — 99.8%
AUSTRIA — 3.3%
Information Technology — 3.3%
AMS *		743,776	$	13,157,135
S&T ^(A)		177,247		3,804,620


TOTAL AUSTRIA				16,961,755
CANADA — 0.3%
Information Technology — 0.3%
Sierra Wireless ^{* (A)}		98,591		1,720,413


CHINA — 2.1%
Information Technology — 2.1%
NXP Semiconductors		48,762		10,891,480


FRANCE — 1.9%
Industrials — 1.9%
Legrand		91,121		9,926,263


ITALY — 0.5%
Information Technology — 0.5%
Datalogic		156,683		2,608,385

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

Schedule of Investments		November 30, 2021
	Global X Internet of Things ETF

	Shares		Value
COMMON STOCK — continued
JAPAN — 2.1%
Information Technology — 2.1%
Nippon Ceramic		72,776	$	1,834,382
Renesas Electronics ^*		708,345		8,995,847


TOTAL JAPAN				10,830,229
NORWAY — 3.4%
Information Technology — 3.4%
Nordic Semiconductor ^*		522,591		17,505,065


SINGAPORE — 7.5%
Information Technology — 7.5%
STMicroelectronics		797,711		38,721,874


SWEDEN — 0.1%
Information Technology — 0.1%
Fingerprint Cards, Cl B ^{* (A)}		366,324		791,003


SWITZERLAND — 2.8%
Industrials — 1.9%
ABB		284,058		9,788,858


Information Technology — 0.9%
Landis+Gyr Group		77,607		4,847,293


TOTAL SWITZERLAND				14,636,151
TAIWAN — 10.7%
Information Technology — 10.7%
Advantech		2,089,021		28,700,607
eMemory Technology		203,282		15,718,905
MediaTek		299,680		10,885,893


TOTAL TAIWAN				55,305,405
UNITED KINGDOM — 0.3%
Information Technology — 0.3%
Spirent Communications		419,284		1,485,517

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

Schedule of Investments		November 30, 2021
	Global X Internet of Things ETF

	Shares		Value
COMMON STOCK — continued
UNITED STATES — 64.8%
Communication Services — 0.2%
Globalstar ^{* (A)}		768,614	$	1,068,374


Consumer Discretionary — 6.4%
Garmin		203,537		27,180,331
Vivint Smart Home ^*		560,512		5,907,796
				33,088,127


Health Care — 7.4%
Dexcom ^*		67,747		38,113,785


Industrials — 18.0%
ADT		2,072,699		17,224,129
Emerson Electric		101,443		8,910,753
Honeywell International		44,668		9,033,656
Johnson Controls International		144,208		10,780,990
Resideo Technologies ^*		52,481		1,369,229
Rockwell Automation		33,759		11,349,776
Schneider Electric		59,688		10,495,553
Sensata Technologies Holding ^*		428,057		23,842,775
				93,006,861


Information Technology — 32.8%
Alarm.com Holdings ^*		135,032		10,774,203
Ambarella ^*		98,474		17,678,052
Analog Devices		58,765		10,592,391
Badger Meter		78,325		8,017,347
Belden		120,110		7,407,184
Cisco Systems		180,557		9,901,746
Digi International ^*		90,864		1,956,302
Impinj ^*		66,171		4,960,840
InterDigital		82,667		5,613,916
International Business Machines		65,701		7,693,587
Itron ^*		122,479		7,582,675
Kyndryl Holdings ^*		13,011		205,574

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

Schedule of Investments		November 30, 2021
	Global X Internet of Things ETF

	Shares/Face Amount		Value
COMMON STOCK — continued
Information Technology — continued
NETGEAR ^*		83,259	$	2,226,346
PTC ^*		42,850		4,695,503
QUALCOMM		71,192		12,854,428
Rambus ^*		302,122		8,127,082
Silicon Laboratories ^*		121,235		23,794,793
Skyworks Solutions		168,693		25,583,980
				169,665,949


TOTAL UNITED STATES				334,943,096
TOTAL COMMON STOCK
(Cost $374,371,208)				516,326,636

SHORT-TERM INVESTMENT^(B)(C) — 0.4%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010%
(Cost $2,103,549)		2,103,549		2,103,549

REPURCHASE AGREEMENT^(B)— 0.5%
BNP Paribas
0.030%, dated 11/30/2021, to be repurchased on 12/01/2021, repurchase price $2,472,386 (collateralized by various U.S. Treasury Obligations, ranging in par value $15,717 - $231,096, 0.750% - 1.130%, 02/28/2025 - 04/30/2026, with a total market value of $2,514,893)
(Cost $2,472,384)	$	2,472,384		2,472,384
TOTAL INVESTMENTS — 100.7%
(Cost $378,947,141)			$	520,902,569

Percentages are based on Net Assets of $517,291,078.

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

Schedule of Investments		November 30, 2021
	Global X Internet of Things ETF

*	Non-income producing security.
(A)	This security or a partial position of this security is on loan at November 30, 2021. The total value of securities on loan at November 30, 2021 was $4,341,670.
(B)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of November 30, 2021 was $4,575,933.
(C)	The rate reported on the Schedule of Investments is the 7-day effective yield as of November 30, 2021.

Cl — Class

The following is a summary of the level of inputs used as of November 30, 2021, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	516,326,636	$	—	$	—	$	516,326,636
Short-Term Investment		2,103,549		—		—		2,103,549
Repurchase Agreement		—		2,472,384		—		2,472,384
Total Investments in Securities	$	518,430,185	$	2,472,384	$	—	$	520,902,569

For the year ended November 30, 2021, there were no transfers in or out of Level 3.

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

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

Schedule of Investments		November 30, 2021
	Global X FinTech ETF

Sector Weightings (Unaudited)†:

	Shares		Value
COMMON STOCK — 99.9%
AUSTRALIA — 5.2%
Financials — 0.8%
HUB24		197,577	$	4,106,089
Zip ^{* (A)}		1,638,352		6,005,842
				10,111,931


Information Technology — 4.4%
Afterpay ^*		669,743		51,690,745
IRESS		561,802		4,935,496
				56,626,241


TOTAL AUSTRALIA				66,738,172
BRAZIL — 2.1%
Information Technology — 2.1%
Pagseguro Digital, Cl A ^*		589,359		15,064,016
StoneCo, Cl A ^*		773,614		12,068,378


TOTAL BRAZIL				27,132,394
CANADA — 3.4%
Information Technology — 3.4%
Bitfarms ^{* (A)}		972,239		7,351,667
Hive Blockchain Technologies ^{* (A)}		1,745,960		6,587,501
Hut 8 Mining ^{* (A)}		1,120,280		13,614,878

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

Schedule of Investments		November 30, 2021
	Global X FinTech ETF

	Shares		Value
COMMON STOCK — continued
Information Technology — continued
Nuvei ^*		163,059	$	15,989,391


TOTAL CANADA				43,543,437
CHINA — 3.3%
Financials — 2.5%
Lufax Holding ADR ^*		4,953,186		31,601,327


Information Technology — 0.8%
Bit Digital ^{* (A)}		566,349		5,572,874
Yeahka ^{* (A)}		1,318,614		4,761,377
				10,334,251


TOTAL CHINA				41,935,578
DENMARK — 0.9%
Information Technology — 0.9%
SimCorp		118,326		11,916,503


GERMANY — 0.8%
Financials — 0.8%
Hypoport ^*		18,953		10,257,088


ISRAEL — 0.4%
Information Technology — 0.4%
Sapiens International		158,155		5,609,758


ITALY — 2.2%
Information Technology — 2.2%
Nexi ^*		1,838,775		28,054,969


JAPAN — 0.5%
Financials — 0.3%
WealthNavi ^{* (A)}		132,060		3,484,537


Industrials — 0.2%
Makuake ^{* (A)}		70,837		3,125,575

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

Schedule of Investments		November 30, 2021
	Global X FinTech ETF

	Shares		Value
COMMON STOCK — continued
TOTAL JAPAN			$	6,610,112
NETHERLANDS — 7.4%
Information Technology — 7.4%
Adyen ^*		34,507		95,063,014


NEW ZEALAND — 3.4%
Information Technology — 3.4%
Xero ^*		430,842		44,246,887


RUSSIA — 0.3%
Information Technology — 0.3%
QIWI ADR		373,731		3,199,137


SINGAPORE — 0.2%
Information Technology — 0.2%
Triterras, Cl A ^{* (A)}		625,000		2,775,000


SWITZERLAND — 2.5%
Financials — 0.4%
Leonteq		65,826		4,680,517


Information Technology — 2.1%
Temenos		217,317		27,675,393


TOTAL SWITZERLAND				32,355,910
UNITED STATES — 67.3%
Financials — 12.9%
Blucora ^*		227,760		3,687,434
Coinbase Global, Cl A ^*		269,631		84,933,765
LendingClub ^*		281,845		9,221,968
LendingTree ^*		38,783		4,397,217
Open Lending, Cl A ^*		368,715		8,568,937
Upstart Holdings ^*		224,114		45,918,717
Virtu Financial, Cl A		348,498		9,820,674
				166,548,712

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

Schedule of Investments		November 30, 2021
	Global X FinTech ETF

	Shares		Value
COMMON STOCK — continued
Health Care — 1.0%
HealthEquity ^*		243,853	$	13,333,882


Information Technology — 53.4%
Affirm Holdings, Cl A ^*		432,007		54,726,647
Bill.com Holdings ^*		242,421		68,083,938
Black Knight ^*		458,620		32,777,571
Boku ^*		1,754,233		4,061,477
Bottomline Technologies ^*		131,508		5,896,819
Envestnet ^*		158,830		12,177,496
Fidelity National Information Services		548,232		57,290,244
Fiserv ^*		738,681		71,297,490
GreenBox POS ^{* (A)}		326,062		1,698,783
GreenSky, Cl A ^*		674,838		7,652,663
Guidewire Software ^*		243,393		28,316,342
Intuit		167,494		109,256,336
Marathon Digital Holdings ^{* (A)}		290,331		14,827,204
Mitek Systems ^*		210,027		3,597,762
nCino ^*		278,967		17,329,430
PayPal Holdings ^*		279,009		51,585,974
Riot Blockchain ^{* (A)}		279,796		10,455,976
Shift4 Payments, Cl A ^*		125,983		6,553,636
Square, Cl A ^*		339,035		70,631,162
SS&C Technologies Holdings		744,908		56,858,828
Vertex, Cl A ^*		184,001		3,363,538
				688,439,316


TOTAL UNITED STATES				868,321,910
TOTAL COMMON STOCK
(Cost $1,004,174,802)				1,287,759,869

SHORT-TERM INVESTMENT^(B)(C)— 1.7%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010%
(Cost $21,695,924)		21,695,924		21,695,924

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

Schedule of Investments		November 30, 2021
	Global X FinTech ETF

	Face Amount		Value
REPURCHASE AGREEMENT^(B) — 2.0%
BNP Paribas
0.030%, dated 11/30/2021, to be repurchased on 12/01/2021, repurchase price $25,500,101 (collateralized by various U.S. Treasury Obligations, ranging in par value $162,103 - $2,383,512, 0.750% - 1.130%, 02/28/2025 - 04/30/2026, with a total market value of $25,938,478)
(Cost $25,500,080)	$	25,500,080	$	25,500,080
TOTAL INVESTMENTS — 103.6%
(Cost $1,051,370,806)			$	1,334,955,873

Percentages are based on Net Assets of $1,289,005,532.

*	Non-income producing security.
(A)	This security or a partial position of this security is on loan at November 30, 2021. The total value of securities on loan at November 30, 2021 was $44,935,368.
(B)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of November 30, 2021 was $47,196,004.
(C)	The rate reported on the Schedule of Investments is the 7-day effective yield as of November 30, 2021.

ADR — American Depositary Receipt

Cl — Class

The following is a summary of the level of inputs used as of November 30, 2021, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	1,287,759,869	$	—	$	—	$	1,287,759,869
Short-Term Investment		21,695,924		—		—		21,695,924
Repurchase Agreement		—		25,500,080		—		25,500,080
Total Investments in Securities	$	1,309,455,793	$	25,500,080	$	—	$	1,334,955,873

For the year ended November 30, 2021, there were no transfers in or out of Level 3.

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

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

Schedule of Investments		November 30, 2021
	Global X Video Games & Esports ETF

Sector Weightings (Unaudited)†:

	Shares		Value
COMMON STOCK — 99.9%
CANADA — 0.3%
Communication Services — 0.3%
Enthusiast Gaming Holdings ^*		406,662	$	1,630,715


CHINA — 10.5%
Communication Services — 10.5%
Bilibili ADR ^{* (A)}		212,613		14,034,584
DouYu International Holdings ADR ^*		1,410,093		3,920,058
HUYA ADR ^{* (A)}		367,069		3,160,464
NetEase ADR		275,957		29,728,848


TOTAL CHINA				50,843,954
FRANCE — 3.6%
Communication Services — 3.6%
Ubisoft Entertainment ^*		346,418		17,667,544


IRELAND — 2.3%
Information Technology — 2.3%
Keywords Studios		315,422		11,258,812


JAPAN — 24.4%
Communication Services — 24.4%
Akatsuki		46,957		1,132,311
Capcom		721,115		17,966,748
DeNA		353,646		5,232,509
Gumi		203,187		1,460,219

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

Schedule of Investments		November 30, 2021
	Global X Video Games & Esports ETF

	Shares		Value
COMMON STOCK — continued
Communication Services — continued
GungHo Online Entertainment		208,780	$	5,589,777
KLab		252,050		1,234,223
Konami Holdings		409,805		20,969,369
Nexon		1,100,487		21,845,944
Nintendo		54,565		24,075,974
Square Enix Holdings		363,535		18,985,975


TOTAL JAPAN				118,493,049
SINGAPORE — 0.7%
Communication Services — 0.7%
IGG		3,342,700		3,168,680


SOUTH KOREA — 15.8%
Communication Services — 15.8%
Com2uSCorp		36,214		4,731,385
Gravity ADR * ^(A)		15,404		1,209,368
JoyCity ^*		131,002		1,543,925
Kakao Games ^*		126,473		10,497,717
NCSoft		31,565		18,095,601
Neowiz ^*		60,586		1,512,227
Netmarble		94,294		9,287,312
Nexon GT ^*		129,977		1,657,675
Pearl Abyss ^*		122,442		13,574,890
Webzen ^*		73,494		1,506,506
Wemade		78,052		12,944,056


TOTAL SOUTH KOREA				76,560,662
SWEDEN — 5.5%
Communication Services — 5.5%
Embracer Group, Cl B ^*		1,795,496		19,316,812
Stillfront Group ^*		1,321,741		7,399,081

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

Schedule of Investments		November 30, 2021
	Global X Video Games & Esports ETF

	Shares		Value
COMMON STOCK — continued
TOTAL SWEDEN			$	26,715,893
TAIWAN — 7.2%
Communication Services — 7.2%
Gamania Digital Entertainment		656,700		1,417,109
Sea ADR ^*		115,741		33,341,510


TOTAL TAIWAN				34,758,619
UNITED STATES — 29.6%
Communication Services — 17.1%
Activision Blizzard		337,033		19,750,134
Electronic Arts		216,063		26,839,346
Take-Two Interactive Software ^*		135,983		22,556,860
Zynga, Cl A ^*		2,247,667		13,553,432
				82,699,772


Information Technology — 12.5%
Corsair Gaming ^{* (A)}		151,642		3,396,781
NVIDIA		170,270		55,637,425
Turtle Beach ^*		67,634		1,812,591
				60,846,797


TOTAL UNITED STATES				143,546,569
TOTAL COMMON STOCK
(Cost $541,758,694)				484,644,497

SHORT-TERM INVESTMENT^(B)(C) — 1.5%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010%
(Cost $7,088,879)		7,088,879		7,088,879

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

Schedule of Investments		November 30, 2021
	Global X Video Games & Esports ETF

	Face Amount		Value
REPURCHASE AGREEMENT^(B) — 1.7%
BNP Paribas
0.030%, dated 11/30/2021, to be repurchased on 12/01/2021, repurchase price $8,331,848 (collateralized by various U.S. Treasury Obligations, ranging in par value $52,965 - $778,784, 0.750% - 1.130%, 02/28/2025 - 04/30/2026, with a total market value of $8,475,086)
(Cost $8,331,841)	$	8,331,841	$	8,331,841
TOTAL INVESTMENTS — 103.1%
(Cost $557,179,414)			$	500,065,217

Percentages are based on Net Assets of $485,234,982.

*	Non-income producing security.
(A)	This security or a partial position of this security is on loan at November 30, 2021. The total value of securities on loan at November 30, 2021 was $14,941,607.
(B)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of November 30, 2021 was $15,420,720.
(C)	The rate reported on the Schedule of Investments is the 7-day effective yield as of November 30, 2021.

ADR — American Depositary Receipt

Cl — Class

The following is a summary of the level of inputs used as of November 30, 2021, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	484,644,497	$	—	$	—	$	484,644,497
Short-Term Investment		7,088,879		—		—		7,088,879
Repurchase Agreement		—		8,331,841		—		8,331,841
Total Investments in Securities	$	491,733,376	$	8,331,841	$	—	$	500,065,217

For the year ended November 30, 2021, there were no transfers in or out of Level 3.

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

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

Schedule of Investments		November 30, 2021
	Global X Autonomous & Electric Vehicles ETF

Sector Weightings (Unaudited)†:

	Shares		Value
COMMON STOCK — 98.9%
AUSTRALIA — 2.9%
Materials — 2.9%
Orocobre ^*		2,051,285	$	14,864,595
Pilbara Minerals ^*		12,423,135		22,902,386


TOTAL AUSTRALIA				37,766,981
BELGIUM — 0.7%
Materials — 0.7%
Umicore		204,462		9,898,371


CANADA — 1.6%
Industrials — 0.8%
Ballard Power Systems ^*		738,651		11,197,949


Information Technology — 0.8%
BlackBerry ^*		1,106,208		10,531,100


TOTAL CANADA				21,729,049
CHILE — 1.9%
Materials — 1.9%
Lundin Mining		1,290,073		10,086,867
Sociedad Quimica y Minera de Chile ADR		241,916		15,061,690

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

Schedule of Investments		November 30, 2021
	Global X Autonomous & Electric Vehicles ETF

	Shares		Value
COMMON STOCK — continued
TOTAL CHILE			$	25,148,557
CHINA — 7.5%
Communication Services — 1.1%
Baidu ADR ^*		101,319		15,181,639


Consumer Discretionary — 3.9%
Geely Automobile Holdings		4,255,400		12,636,532
NIO ADR ^*		452,220		17,695,369
XPeng ADR, Cl A ^*		376,877		20,728,235
				51,060,136


Information Technology — 1.6%
NXP Semiconductors		93,338		20,847,976


Materials — 0.9%
Ganfeng Lithium, Cl H		604,824		11,800,346


TOTAL CHINA				98,890,097
FRANCE — 1.6%
Consumer Discretionary — 1.6%
Faurecia		249,145		10,628,527
Renault *		314,005		10,058,961


TOTAL FRANCE				20,687,488
GERMANY — 2.4%
Consumer Discretionary — 0.8%
Continental		92,835		9,895,628
Vitesco Technologies Group ^*		19,483		859,654
				10,755,282


Information Technology — 1.6%
Infineon Technologies		465,235		20,909,968

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

Schedule of Investments		November 30, 2021
	Global X Autonomous & Electric Vehicles ETF

	Shares		Value
COMMON STOCK — continued
TOTAL GERMANY			$	31,665,250
JAPAN — 7.6%
Consumer Discretionary — 6.9%
Denso		220,014		16,142,821
Honda Motor		546,044		14,912,876
Nissan Motor *		2,383,755		11,817,479
Panasonic		1,216,124		13,307,799
Toyota Motor		2,011,245		35,444,108
				91,625,083


Industrials — 0.7%
GS Yuasa		422,869		8,588,101


TOTAL JAPAN				100,213,184
LUXEMBOURG — 0.7%
Materials — 0.7%
APERAM		203,465		9,694,371


NETHERLANDS — 0.8%
Consumer Discretionary — 0.8%
TomTom ^*		1,293,355		11,071,301


RUSSIA — 1.1%
Communication Services — 1.1%
Yandex, Cl A ^*		197,901		14,236,998


SOUTH KOREA — 1.8%
Consumer Discretionary — 1.8%
Hyundai Motor		74,232		12,216,816
Kia Motors		178,559		11,694,495


TOTAL SOUTH KOREA				23,911,311
SWEDEN — 2.3%
Consumer Discretionary — 2.3%
Autoliv		126,798		12,222,059
Veoneer ^{* (A)}		528,782		18,824,639

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

Schedule of Investments		November 30, 2021
	Global X Autonomous & Electric Vehicles ETF

	Shares		Value
COMMON STOCK — continued
TOTAL SWEDEN			$	31,046,698
UNITED KINGDOM — 0.6%
Materials — 0.6%
Johnson Matthey		280,695		7,783,673


UNITED STATES — 65.4%
Communication Services — 3.0%
Alphabet, Cl A ^*		14,002		39,736,976


Consumer Discretionary — 18.0%
American Axle & Manufacturing Holdings ^*		1,170,598		10,371,498
Aptiv ^*		109,392		17,541,007
BorgWarner		265,271		11,480,929
Dana		486,086		10,450,849
Ford Motor		1,337,127		25,659,467
General Motors ^*		390,159		22,578,501
Gentherm ^*		165,233		13,953,927
Harley-Davidson		266,470		9,760,796
Lear		73,134		12,271,154
QuantumScape, Cl A ^{* (A)}		490,764		14,153,634
Stellantis		873,113		14,879,146
Tesla ^*		55,776		63,850,134
Visteon ^*		100,205		10,613,714
				237,564,756


Industrials — 11.6%
Bloom Energy, Cl A ^*		535,789		14,723,482
EnerSys		120,421		8,921,992
General Electric		238,145		22,621,393
Honeywell International		106,524		21,543,414
Hyster-Yale Materials Handling		161,843		6,353,956
ITT		127,295		12,039,561
Johnson Controls International		260,926		19,506,828
Nikola ^{* (A)}		808,178		8,259,579
Plug Power ^*		485,086		19,330,677

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

Schedule of Investments		November 30, 2021
	Global X Autonomous & Electric Vehicles ETF

	Shares		Value
COMMON STOCK — continued
Industrials — continued
Romeo Power ^{* (A)}		1,520,251	$	6,020,194
Westinghouse Air Brake Technologies		158,621		14,080,786
				153,401,862


Information Technology — 26.5%
Ambarella ^*		117,994		21,182,283
Apple		243,621		40,270,551
CEVA ^*		251,008		11,069,453
II-VI ^*		165,127		10,325,391
Intel		643,578		31,664,038
Micron Technology		301,139		25,295,676
Microsoft		128,921		42,619,993
NVIDIA		183,095		59,828,122
ON Semiconductor ^*		351,948		21,620,166
QUALCOMM		239,255		43,199,883
Rogers ^*		59,131		16,120,293
Xilinx		117,922		26,939,281
				350,135,130


Materials — 6.3%
Albemarle		77,151		20,559,970
Allegheny Technologies ^*		540,155		7,691,807
Cabot		199,414		10,465,247
Carpenter Technology		292,253		8,031,112
Freeport-McMoRan		529,734		19,642,537
Livent ^*		577,462		17,491,324
				83,881,997


TOTAL UNITED STATES				864,720,721
TOTAL COMMON STOCK
(Cost $1,209,809,066)				1,308,464,050

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

Schedule of Investments		November 30, 2021
	Global X Autonomous & Electric Vehicles ETF

	Shares/Face Amount		Value
PREFERRED STOCK — 0.9%
GERMANY— 0.9%
Consumer Discretionary — 0.9%
Volkswagen ^(B)
(Cost $15,133,103)		69,809	$	12,702,689

SHORT-TERM INVESTMENT^(C)(D) — 0.7%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010%
(Cost $9,101,655)		9,101,655		9,101,655

REPURCHASE AGREEMENT^(C) — 0.8%
BNP Paribas
0.030%, dated 11/30/2021, to be repurchased on 12/01/2021, repurchase price $10,697,545 (collateralized by various U.S. Treasury Obligations, ranging in par value $68,004 - $999,907, 0.750% - 1.130%, 02/28/2025 - 04/30/2026, with a total market value of $10,881,450)
(Cost $10,697,536)	$	10,697,536		10,697,536
TOTAL INVESTMENTS — 101.3%
(Cost $1,244,741,360)			$	1,340,965,930

Percentages are based on Net Assets of $1,323,546,028.

*	Non-income producing security.
(A)	This security or a partial position of this security is on loan at November 30, 2021. The total value of securities on loan at November 30, 2021 was $18,839,898.
(B)	There is currently no stated interest rate.
(C)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of November 30, 2021 was $19,799,191.
(D)	The rate reported on the Schedule of Investments is the 7-day effective yield as of November 30, 2021.

ADR — American Depositary Receipt

Cl — Class

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

Schedule of Investments		November 30, 2021
	Global X Autonomous & Electric Vehicles ETF

The following is a summary of the level of inputs used as of November 30, 2021, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	1,308,464,050	$	—	$	—	$	1,308,464,050
Preferred Stock		12,702,689		—		—		12,702,689
Short-Term Investment		9,101,655		—		—		9,101,655
Repurchase Agreement		—		10,697,536		—		10,697,536
Total Investments in Securities	$	1,330,268,394	$	10,697,536	$	—	$	1,340,965,930

For the year ended November 30, 2021, there were no transfers in or out of Level 3.

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

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

Schedule of Investments		November 30, 2021
	Global X Cloud Computing ETF

Sector Weightings (Unaudited)†:

	Shares		Value
COMMON STOCK — 100.0%
CANADA — 4.4%
Information Technology — 4.4%
Shopify, Cl A ^*		38,411	$	58,453,476


CHINA — 2.0%
Consumer Discretionary — 0.7%
Alibaba Group Holding ADR ^*		71,823		9,159,587


Information Technology — 1.3%
Kingsoft Cloud Holdings ADR ^*		207,352		3,583,043
Vnet Group ADR ^*		1,363,689		13,255,057
				16,838,100


TOTAL CHINA				25,997,687
ISRAEL — 3.5%
Information Technology — 3.5%
Wix.com ^*		300,269		45,881,103


UNITED STATES — 90.1%
Communication Services — 8.9%
Alphabet, Cl A ^*		7,942		22,538,999
Netflix ^*		88,564		56,849,232
PubMatic, Cl A ^*		195,222		7,685,890
Vimeo ^*		1,536,875		29,677,056
				116,751,177

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

Schedule of Investments		November 30, 2021
	Global X Cloud Computing ETF

	Shares		Value
COMMON STOCK — continued
Consumer Discretionary — 3.6%
2U ^*		737,522	$	17,545,648
Amazon.com ^*		8,476		29,725,925
				47,271,573


Information Technology — 71.9%
Akamai Technologies ^*		539,795		60,834,897
Anaplan ^*		908,545		38,894,811
Benefitfocus ^*		389,691		3,920,291
Box, Cl A ^*		1,500,381		35,123,919
Coupa Software ^*		252,443		49,645,440
Dropbox, Cl A ^*		1,908,598		46,970,597
Everbridge ^*		377,471		42,812,761
Fastly, Cl A ^{* (A)}		1,088,211		44,355,480
Five9 ^*		386,252		54,975,247
Freshworks, Cl A ^*		280,963		9,895,517
International Business Machines		36,243		4,244,055
Microsoft		87,740		29,005,967
Mimecast ^*		656,794		53,200,314
Paycom Software ^*		115,423		50,495,254
Qualys ^*		385,742		50,258,325
salesforce.com ^*		191,943		54,696,077
SPS Commerce ^*		355,645		50,142,389
Twilio, Cl A ^*		188,788		54,021,686
Workday, Cl A ^*		203,750		55,874,363
Workiva, Cl A ^*		374,250		52,196,648
Zoom Video Communications, Cl A ^*		209,741		44,341,345
Zscaler ^*		178,164		61,817,563
				947,722,946


Real Estate — 5.7%
CoreSite Realty ^‡		49,830		8,523,422
CyrusOne ^‡		143,523		12,776,417
Digital Realty Trust ^‡		322,323		54,066,460
				75,366,299

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

Schedule of Investments		November 30, 2021
	Global X Cloud Computing ETF

	Shares/Face Amount		Value
COMMON STOCK — continued
TOTAL UNITED STATES			$	1,187,111,995
TOTAL COMMON STOCK
(Cost $1,296,640,718)				1,317,444,261

SHORT-TERM INVESTMENT^(B)(C) — 0.5%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010%
(Cost $6,336,632)		6,336,632		6,336,632

REPURCHASE AGREEMENT^(B) — 0.5%
BNP Paribas
0.030%, dated 11/30/2021, to be repurchased on 12/01/2021, repurchase price $7,447,701 (collateralized by various U.S. Treasury Obligations, ranging in par value $47,345 - $696,142, 0.750% - 1.130%, 02/28/2025 - 04/30/2026, with a total market value of $7,575,739)
(Cost $7,447,695)	$	7,447,695		7,447,695
TOTAL INVESTMENTS — 101.0%
(Cost $1,310,425,045)			$	1,331,228,588

Percentages are based on Net Assets of $1,317,543,972.

*	Non-income producing security.
‡	Real Estate Investment Trust
(A)	This security or a partial position of this security is on loan at November 30, 2021. The total value of securities on loan at November 30, 2021 was $12,320,036.
(B)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of November 30, 2021 was $13,784,327.
(C)	The rate reported on the Schedule of Investments is the 7-day effective yield as of November 30, 2021.

ADR — American Depositary Receipt

Cl — Class

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

Schedule of Investments		November 30, 2021
	Global X Cloud Computing ETF

The following is a summary of the level of inputs used as of November 30, 2021, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	1,317,444,261	$	—	$	—	$	1,317,444,261
Short-Term Investment		6,336,632		—		—		6,336,632
Repurchase Agreement		—		7,447,695		—		7,447,695
Total Investments in Securities	$	1,323,780,893	$	7,447,695	$	—	$	1,331,228,588

For the year ended November 30, 2021, there were no transfers in or out of Level 3.

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

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

Schedule of Investments		November 30, 2021
	Global X Data Center REITs & Digital Infrastructure ETF

Sector Weightings (Unaudited)†:

† Sector weightings percentages are based on the total market value of investments.

	Shares		Value
COMMON STOCK — 99.8%
AUSTRALIA — 3.4%
Information Technology — 3.4%
NEXTDC ^*		306,774	$	2,631,965


CHINA — 8.7%
Communication Services — 4.3%
China Tower, Cl H		26,439,900		3,357,620


Information Technology — 4.4%
GDS Holdings ADR ^*		49,616		2,780,480
Vnet Group ADR ^*		70,772		687,904
				3,468,384


TOTAL CHINA				6,826,004
GERMANY — 1.7%
Communication Services — 1.7%
Vantage Towers		39,640		1,307,323


HONG KONG — 0.5%
Information Technology — 0.5%
SUNeVision Holdings		429,081		373,169


INDONESIA — 3.2%
Communication Services — 3.2%
Sarana Menara Nusantara		16,341,465		1,323,519
Tower Bersama Infrastructure		5,708,898		1,203,761

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

Schedule of Investments		November 30, 2021
	Global X Data Center REITs & Digital Infrastructure ETF

	Shares		Value
COMMON STOCK — continued
TOTAL INDONESIA			$	2,527,280
SINGAPORE — 2.0%
Real Estate — 2.0%
Keppel ^‡		923,058		1,582,020


TAIWAN — 1.9%
Information Technology — 1.9%
Winbond Electronics		1,274,504		1,469,110


UNITED STATES — 78.4%
Communication Services — 1.1%
Radius Global Infrastructure, Cl A ^*		50,263		829,339


Information Technology — 14.3%
Advanced Micro Devices ^*		17,977		2,847,017
Microchip Technology		22,410		1,869,666
Micron Technology		20,430		1,716,120
NVIDIA		8,102		2,647,410
Switch, Cl A		77,319		2,114,675
				11,194,888


Real Estate — 63.0%
American Tower, Cl A ^‡		34,287		8,999,652
CoreSite Realty ^‡		24,787		4,239,816
Crown Castle International ^‡		47,801		8,683,052
CyrusOne ^‡		48,484		4,316,046
Digital Realty Trust ^‡		46,012		7,718,053
Equinix ^‡		11,578		9,403,652
SBA Communications, Cl A ^‡		10,889		3,743,638
Uniti Group ^‡		159,617		2,118,117
				49,222,026


TOTAL UNITED STATES				61,246,253
TOTAL COMMON STOCK
(Cost $72,992,164)				77,963,124

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

Schedule of Investments		November 30, 2021
	Global X Data Center REITs & Digital Infrastructure ETF

	Face Amount		Value
U.S. TREASURY OBLIGATION — 12.8%
U.S. Treasury Bill
0.036%, 12/02/21^(A)
(Cost $9,999,990)	$	10,000,000	$	9,999,992
TOTAL INVESTMENTS — 112.6%
(Cost $82,992,154)			$	87,963,116

Percentages are based on Net Assets of $78,097,585.

*	Non-income producing security.
‡	Real Estate Investment Trust
(A)	Zero coupon security. The rate reported on the Schedule of Investments is the effective yield at time of purchase.

ADR — American Depositary Receipt

Cl — Class

The following is a summary of the level of inputs used as of November 30, 2021, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	77,963,124	$	—	$	—	$	77,963,124
U.S. Treasury Obligation		—		9,999,992		—		9,999,992
Total Investments in Securities	$	77,963,124	$	9,999,992	$	—	$	87,963,116

For the year ended November 30, 2021, there were no transfers in or out of Level 3.

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

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

Schedule of Investments		November 30, 2021
	Global X Cybersecurity ETF

Sector Weightings (Unaudited)†:

† Sector weightings percentages are based on the total market value of investments.

	Shares		Value
COMMON STOCK — 99.9%
CANADA — 0.3%
Information Technology — 0.3%
Absolute Software		437,655	$	3,903,004


ISRAEL — 7.5%
Information Technology — 7.5%
Check Point Software Technologies ^*		625,213		69,592,459
Radware ^*		413,686		11,984,483
Tufin Software Technologies ^*		348,371		2,877,545


TOTAL ISRAEL				84,454,487
JAPAN — 6.0%
Information Technology — 6.0%
Cyber Security Cloud ^*		158,280		2,931,550
Digital Arts		126,010		10,465,228
Trend Micro		945,303		54,531,108


TOTAL JAPAN				67,927,886
SOUTH KOREA — 0.4%
Information Technology — 0.4%
Ahnlab		88,479		4,886,120


UNITED KINGDOM — 3.4%
Information Technology — 3.4%
Darktrace ^*		6,243,388		37,995,905


UNITED STATES — 82.3%
Information Technology — 82.3%
A10 Networks		684,198		10,550,333
Avast		7,130,551		57,149,310
Crowdstrike Holdings, Cl A ^*		259,037		56,247,294

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

Schedule of Investments		November 30, 2021
	Global X Cybersecurity ETF

	Shares		Value
COMMON STOCK — continued
Information Technology — continued
CyberArk Software ^*		278,558	$	48,148,750
Fortinet ^*		214,026		71,080,175
Mandiant ^*		2,139,760		36,311,727
McAfee, Cl A		1,511,533		39,073,128
Mimecast ^*		595,948		48,271,788
NortonLifeLock		2,177,154		54,102,277
Okta, Cl A ^*		283,226		60,958,732
OneSpan ^*		356,839		6,098,379
Palo Alto Networks ^*		146,656		80,212,033
Ping Identity Holding ^*		733,318		17,460,302
Qualys ^*		349,565		45,544,824
Rapid7 ^*		397,548		49,319,805
Sailpoint Technologies Holdings ^*		831,788		43,743,731
SecureWorks, Cl A ^*		191,343		3,398,252
SentinelOne, Cl A ^*		372,596		20,109,006
Telos ^*		595,354		9,376,825
Tenable Holdings ^*		963,643		47,603,964
Varonis Systems, Cl B ^*		854,751		44,284,649
VirnetX Holding ^*		830,185		2,490,555
Zix ^*		501,841		4,250,593
Zscaler ^*		218,208		75,711,630


TOTAL UNITED STATES				931,498,062
TOTAL COMMON STOCK
(Cost $1,131,407,313)				1,130,665,464
TOTAL INVESTMENTS — 99.9%
(Cost $1,131,407,313)			$	1,130,665,464

Percentages are based on Net Assets of $1,132,090,284.

*	Non-income producing security.

Cl — Class

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

Schedule of Investments		November 30, 2021
	Global X Cybersecurity ETF

As of November 30, 2021, 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.

For the year ended November 30, 2021, there were no transfers in or out of Level 3.

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

Schedule of Investments		November 30, 2021
	Global X Artificial Intelligence & Technology ETF

Sector Weightings (Unaudited)†:

	Shares		Value
COMMON STOCK — 99.9%
BRAZIL — 0.3%
Consumer Discretionary — 0.2%
Afya, Cl A ^*		22,363	$	316,436


Information Technology — 0.1%
StoneCo, Cl A ^*		9,280		144,768


TOTAL BRAZIL				461,204
CANADA — 3.9%
Industrials — 1.1%
Thomson Reuters		17,325		2,071,377


Information Technology — 2.8%
Shopify, Cl A ^*		3,452		5,253,219


TOTAL CANADA				7,324,596
CHINA — 9.4%
Communication Services — 3.2%
Baidu ADR ^*		9,911		1,485,064
Tencent Holdings		77,443		4,563,622
				6,048,686

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

Schedule of Investments		November 30, 2021
	Global X Artificial Intelligence & Technology ETF

	Shares		Value
COMMON STOCK — continued
Consumer Discretionary — 4.3%
Alibaba Group Holding ADR ^*		25,866	$	3,298,691
Meituan, Cl B ^*		155,341		4,742,415
				8,041,106


Information Technology — 1.9%
Canaan ADR ^{* (A)}		88,015		773,652
NXP Semiconductors		9,628		2,150,510
Vnet Group ADR ^*		29,605		287,761
ZTE, Cl H		156,600		424,853
				3,636,776


TOTAL CHINA				17,726,568
FINLAND — 0.2%
Information Technology — 0.2%
TietoEVRY		15,989		463,246


FRANCE — 0.2%
Communication Services — 0.2%
Ubisoft Entertainment ^*		8,123		414,278


GERMANY — 4.1%
Industrials — 3.0%
Siemens		34,788		5,532,123


Information Technology — 1.1%
Infineon Technologies		45,631		2,050,883


TOTAL GERMANY				7,583,006
ISRAEL — 0.5%
Information Technology — 0.5%
Tower Semiconductor ^*		20,252		718,541
Wix.com ^*		1,945		297,196


TOTAL ISRAEL				1,015,737
ITALY — 0.3%
Health Care — 0.3%
Amplifon		11,218		544,472

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

Schedule of Investments		November 30, 2021
	Global X Artificial Intelligence & Technology ETF

	Shares		Value
COMMON STOCK — continued
JAPAN — 1.5%
Industrials — 1.4%
FANUC		7,044	$	1,380,015
Fujikura ^*		114,468		577,658
Toshiba		15,792		629,621
				2,587,294


Information Technology — 0.1%
AI inside ^{* (A)}		5,198		271,929


TOTAL JAPAN				2,859,223
NETHERLANDS — 0.6%
Industrials — 0.6%
Wolters Kluwer		9,339		1,043,413


SINGAPORE — 0.8%
Information Technology — 0.8%
STMicroelectronics		31,791		1,542,280


SOUTH KOREA — 3.9%
Information Technology — 3.9%
Samsung Electronics		79,810		4,790,347
SK Hynix		25,442		2,441,609


TOTAL SOUTH KOREA				7,231,956
SWEDEN — 0.6%
Information Technology — 0.6%
Telefonaktiebolaget LM Ericsson ADR		107,310		1,073,100


TAIWAN — 1.4%
Industrials — 0.3%
Bizlink Holding		62,100		577,347


Information Technology — 1.1%
Acer		568,600		566,463
Alchip Technologies		20,690		759,007
Global Unichip		35,800		758,374
				2,083,844

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

Schedule of Investments		November 30, 2021
	Global X Artificial Intelligence & Technology ETF

	Shares		Value
COMMON STOCK — continued
TOTAL TAIWAN			$	2,661,191
UNITED KINGDOM — 0.8%
Industrials — 0.8%
Experian		32,201		1,439,941


UNITED STATES — 71.4%
Communication Services — 11.6%
Alphabet, Cl A ^*		2,167		6,149,838
Meta Platforms, Cl A ^*		15,758		5,112,841
Netflix ^*		10,737		6,892,080
Snap, Cl A ^*		46,699		2,223,339
Twitter ^*		27,898		1,225,838
				21,603,936


Consumer Discretionary — 3.8%
Amazon.com ^*		1,539		5,397,381
eBay		24,092		1,625,246
				7,022,627


Financials — 0.5%
Upstart Holdings ^*		4,648		952,329


Health Care — 0.3%
ABIOMED ^*		1,681		529,145


Industrials — 3.6%
Booz Allen Hamilton Holding, Cl A		6,159		516,987
Hubbell, Cl B		2,781		544,242
Nielsen Holdings		22,595		432,920
Rockwell Automation		4,052		1,362,282
Uber Technologies ^*		65,658		2,495,004
Verisk Analytics, Cl A		5,663		1,273,439
				6,624,874


Information Technology — 51.6%
Accenture, Cl A		17,497		6,253,428
Adobe ^*		8,815		5,904,728
Apple		37,487		6,196,601

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

Schedule of Investments		November 30, 2021
	Global X Artificial Intelligence & Technology ETF

	Shares		Value
COMMON STOCK — continued
Information Technology — continued
C3.ai, Cl A ^{* (A)}		10,241	$	378,507
Cadence Design Systems ^*		9,724		1,725,621
Cisco Systems		100,812		5,528,530
Datadog, Cl A ^*		8,162		1,455,203
DXC Technology ^*		14,039		421,030
Genpact		11,158		538,597
Hewlett Packard Enterprise		45,504		652,982
Intel		98,771		4,859,533
International Business Machines		31,641		3,705,161
Kyndryl Holdings ^*		6,335		100,093
Mandiant ^*		26,458		448,992
Microsoft		19,247		6,362,866
NVIDIA		28,084		9,176,728
Okta, Cl A ^*		4,358		937,972
Oracle		60,921		5,527,972
Pegasystems		3,995		458,706
PROS Holdings ^*		12,904		468,673
QUALCOMM		38,788		7,003,561
salesforce.com ^*		22,175		6,318,988
Seagate Technology Holdings		7,983		819,615
ServiceNow ^*		7,004		4,536,491
Smartsheet, Cl A ^*		7,703		492,992
Splunk ^*		5,719		691,999
Super Micro Computer ^*		16,079		665,671
Synopsys ^*		5,326		1,816,166
Teradata ^*		11,082		481,180
Trade Desk, Cl A ^*		15,187		1,570,640
Twilio, Cl A ^*		5,680		1,625,332
Ubiquiti		2,191		655,744
UiPath, Cl A ^*		14,866		717,284
Verint Systems ^*		12,803		609,295
Viasat ^*		10,880		481,875
Workday, Cl A ^*		6,596		1,808,821

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

Schedule of Investments		November 30, 2021
	Global X Artificial Intelligence & Technology ETF

	Shares/Face Amount		Value
COMMON STOCK — continued
Information Technology — continued
Xilinx		8,592	$	1,962,842
Zebra Technologies, Cl A ^*		1,865		1,098,075
Zscaler ^*		4,741		1,644,985
				96,103,479


TOTAL UNITED STATES				132,836,390
TOTAL COMMON STOCK
(Cost $170,689,014)				186,220,601

SHORT-TERM INVESTMENT^(B)(C) — 0.3%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010%
(Cost $488,027)		488,027		488,027

REPURCHASE AGREEMENT^(B) — 0.3%
BNP Paribas
0.030%, dated 11/30/2021, to be repurchased on 12/01/2021, repurchase price $573,598 (collateralized by various U.S. Treasury Obligations, ranging in par value $3,646 - $53,615, 0.750% - 1.130%, 02/28/2025 - 04/30/2026, with a total market value of $583,462)
(Cost $573,597)	$	573,597		573,597
TOTAL INVESTMENTS — 100.5%
(Cost $171,750,638)			$	187,282,225

Percentages are based on Net Assets of $186,334,467.

*	Non-income producing security.
(A)	This security or a partial position of this security is on loan at November 30, 2021. The total value of securities on loan at November 30, 2021 was $1,024,376.
(B)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of November 30, 2021 was $1,061,624.

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

Schedule of Investments		November 30, 2021
	Global X Artificial Intelligence & Technology ETF

(C)	The rate reported on the Schedule of Investments is the 7-day effective yield as of November 30, 2021.

ADR — American Depositary Receipt

Cl — Class

The following is a summary of the level of inputs used as of November 30, 2021, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	186,220,601	$	—	$	—	$	186,220,601
Short-Term Investment		488,027		—		—		488,027
Repurchase Agreement		—		573,597		—		573,597
Total Investments in Securities	$	186,708,628	$	573,597	$	—	$	187,282,225

For the year ended November 30, 2021, there were no transfers in or out of Level 3.

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

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

Schedule of Investments		November 30, 2021
	Global X Millennial Consumer ETF

Sector Weightings (Unaudited)†:

	Shares		Value
COMMON STOCK — 99.9%
GERMANY — 0.2%
Communication Services — 0.2%
Trivago ADR ^{* (A)}		163,629	$	350,166


TAIWAN — 3.4%
Communication Services — 3.4%
Sea ADR ^*		27,108		7,809,001


UNITED STATES — 96.3%
Communication Services — 24.1%
Activision Blizzard		70,790		4,148,294
Alphabet, Cl A ^*		3,046		8,644,396
Angi, Cl A ^*		43,900		421,879
Cargurus, Cl A ^*		27,193		1,019,738
Cars.com ^*		50,158		836,635
iHeartMedia ^*		38,164		748,396
Liberty TripAdvisor Holdings, Cl A ^*		108,189		233,688
Match Group ^*		26,211		3,407,168
Meta Platforms, Cl A ^*		21,944		7,119,950
Netflix ^*		12,373		7,942,229
Snap, Cl A ^*		108,675		5,174,017

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

Schedule of Investments		November 30, 2021
	Global X Millennial Consumer ETF

	Shares		Value
COMMON STOCK — continued
Communication Services — continued
Spotify Technology ^*		18,612	$	4,438,962
TripAdvisor ^*		13,184		340,938
Twitter ^*		77,788		3,418,005
Vimeo ^*		13,055		252,092
Walt Disney ^*		36,469		5,284,358
Yelp, Cl A ^*		16,632		570,145
Zynga, Cl A ^*		105,467		635,966
				54,636,856


Consumer Discretionary — 40.3%
2U ^*		16,449		391,322
Aaron’s		28,136		624,619
Airbnb, Cl A ^*		11,761		2,029,243
Amazon.com ^*		2,076		7,280,677
AutoNation ^*		8,173		1,012,226
Bed Bath & Beyond ^{* (A)}		22,921		420,142
Booking Holdings ^*		2,813		5,912,504
Capri Holdings ^*		14,636		866,744
CarMax ^*		15,787		2,229,914
Carter’s		7,448		752,471
Carvana, Cl A ^*		7,599		2,130,912
Chegg ^*		13,608		378,983
Children’s Place ^*		9,479		820,218
Chipotle Mexican Grill, Cl A ^*		2,762		4,539,098
Columbia Sportswear		6,434		627,508
Designer Brands, Cl A ^*		38,880		531,878
Dick’s Sporting Goods		8,646		1,016,424
eBay		66,722		4,501,066
Etsy ^*		12,278		3,371,293
Expedia Group ^*		13,454		2,167,305
GoPro, Cl A ^*		54,031		540,310
Graham Holdings, Cl B		1,096		620,906
Groupon, Cl A ^*		13,962		288,455
Home Depot		21,828		8,744,515

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

Schedule of Investments		November 30, 2021
	Global X Millennial Consumer ETF

	Shares		Value
COMMON STOCK — continued
Consumer Discretionary — continued
Laureate Education, Cl A		51,239	$	512,390
Lowe’s		35,335		8,642,588
Lululemon Athletica ^*		12,213		5,549,709
NIKE, Cl B		51,329		8,686,920
Peloton Interactive, Cl A ^*		25,682		1,130,008
Planet Fitness, Cl A ^*		8,053		657,850
Skechers USA, Cl A ^*		15,979		717,777
Starbucks		60,735		6,658,985
Strategic Education		7,373		394,455
Stride ^*		19,729		673,351
Under Armour, Cl A ^*		29,891		705,129
VF		38,149		2,736,428
Victoria’s Secret ^*		9,047		491,071
Wayfair, Cl A ^{* (A)}		7,506		1,860,287
WW International ^*		22,521		378,803
				91,594,484


Consumer Staples — 4.8%
Costco Wholesale		18,998		10,247,142
Sprouts Farmers Market ^*		26,183		692,802
				10,939,944


Financials — 1.7%
Blucora ^*		40,116		649,478
LendingClub ^*		42,251		1,382,453
LendingTree ^*		3,046		345,355
Nelnet, Cl A		9,089		783,472
SLM		35,727		635,226
				3,795,984


Industrials — 3.6%
Avis Budget Group ^*		9,262		2,543,253
Lyft, Cl A ^*		31,158		1,265,326
Uber Technologies ^*		118,073		4,486,774
				8,295,353

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

Schedule of Investments		November 30, 2021
	Global X Millennial Consumer ETF

	Shares		Value
COMMON STOCK — continued
Information Technology — 15.5%
Apple		52,651	$	8,703,210
Fiserv ^*		55,327		5,340,162
Intuit		16,603		10,830,137
PayPal Holdings ^*		25,967		4,801,039
Square, Cl A ^*		26,574		5,536,161
				35,210,709


Real Estate — 6.3%
AvalonBay Communities ^‡		13,575		3,242,660
Camden Property Trust ^‡		9,696		1,601,876
Centerspace ^‡		10,034		1,025,374
Equity Residential ^‡		36,302		3,096,924
Independence Realty Trust ^‡		44,535		1,091,108
Invitation Homes ^‡		55,207		2,232,571
UDR ^‡		28,867		1,637,625
Zillow Group, Cl A ^*		5,922		320,439
				14,248,577


TOTAL UNITED STATES				218,721,907
TOTAL COMMON STOCK
(Cost $205,655,462)				226,881,074

SHORT-TERM INVESTMENT^(B)(C) — 0.4%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010%
(Cost $849,671)		849,671		849,671

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

100

Schedule of Investments		November 30, 2021
	Global X Millennial Consumer ETF

	Face Amount		Value
REPURCHASE AGREEMENT^(B) — 0.4%
BNP Paribas
0.030%, dated 11/30/2021, to be repurchased on 12/01/2021, repurchase price $998,653 (collateralized by various U.S. Treasury Obligations, ranging in par value $6,348 - $93,345, 0.750% - 1.130%, 02/28/2025 - 04/30/2026, with a total market value of $1,015,823)
(Cost $998,652)	$	998,652	$	998,652
TOTAL INVESTMENTS — 100.7%
(Cost $207,503,785)			$	228,729,397

Percentages are based on Net Assets of $227,075,366.

*	Non-income producing security.
‡	Real Estate Investment Trust
(A)	This security or a partial position of this security is on loan at November 30, 2021. The total value of securities on loan at November 30, 2021 was $1,671,352.
(B)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of November 30, 2021 was $1,848,323.
(C)	The rate reported on the Schedule of Investments is the 7-day effective yield as of November 30, 2021.

ADR — American Depositary Receipt

Cl — Class

The following is a summary of the level of inputs used as of November 30, 2021, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	226,881,074	$	—	$	—	$	226,881,074
Short-Term Investment		849,671		—		—		849,671
Repurchase Agreement		—		998,652		—		998,652
Total Investments in Securities	$	227,730,745	$	998,652	$	—	$	228,729,397

For the year ended November 30, 2021, there were no transfers in or out of Level 3.

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

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

101

Schedule of Investments		November 30, 2021
	Global X Education ETF

Sector Weightings (Unaudited)†:

† Sector weightings percentages are based on the total market value of investments.

	Shares		Value
COMMON STOCK — 99.8%
AUSTRALIA — 9.7%
Consumer Discretionary — 9.7%
G8 Education ^*		70,692	$	52,881
IDP Education		23,365		579,511


TOTAL AUSTRALIA				632,392
BRAZIL — 2.3%
Consumer Discretionary — 2.3%
Arco Platform, Cl A ^*		2,515		47,081
YDUQS Participacoes		25,802		99,715


TOTAL BRAZIL				146,796
CANADA — 3.0%
Information Technology — 3.0%
Docebo ^*		2,740		195,247


CHINA — 13.7%
Consumer Discretionary — 13.7%
17 Education & Technology Group ADR ^*		3,563		6,877
China East Education Holdings		183,292		191,383
Gaotu Techedu ADR ^*		12,116		32,350
Koolearn Technology Holding ^*		84,382		87,891
New Oriental Education & Technology Group ADR ^*		143,958		318,147
TAL Education Group ADR ^*		37,160		192,489
Youdao ADR ^*		3,065		48,611
Zhangmen Education ADR ^*		11,261		14,076

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

102

Schedule of Investments		November 30, 2021
	Global X Education ETF

	Shares		Value
COMMON STOCK — continued
TOTAL CHINA			$	891,824
JAPAN — 6.6%
Communication Services — 1.2%
Gakken Holdings		3,709		31,947
V-Cube		4,276		42,743
				74,690


Consumer Discretionary — 4.2%
Benesse Holdings		8,632		167,174
Edulab ^*		802		8,321
Media Do		1,284		51,735
Riso Kyoiku		13,023		46,451
				273,681


Industrials — 1.2%
Insource		3,610		77,990


TOTAL JAPAN				426,361
NORWAY — 3.5%
Communication Services — 3.5%
Kahoot! ^*		40,465		227,610


SOUTH KOREA — 1.5%
Consumer Discretionary — 1.5%
Daekyo		7,025		21,230
MegaStudyEdu		990		62,255
NE Neungyule		1,366		13,397


TOTAL SOUTH KOREA				96,882
UNITED KINGDOM — 7.7%
Communication Services — 7.7%
Pearson		63,533		498,608


UNITED STATES — 51.8%
Communication Services — 8.9%
Bandwidth, Cl A ^*		3,774		270,445

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

103

Schedule of Investments		November 30, 2021
	Global X Education ETF

	Shares		Value
COMMON STOCK — continued
Communication Services — continued
John Wiley & Sons, Cl A		3,920	$	203,762
Scholastic		2,738		103,058
				577,265


Consumer Discretionary — 26.1%
2U ^*		6,246		148,592
Bright Horizons Family Solutions ^*		4,662		573,193
Chegg ^*		12,125		337,681
Coursera ^*		11,541		346,115
Houghton Mifflin Harcourt ^*		10,684		166,243
Stride ^*		3,570		121,844
				1,693,668


Industrials — 2.0%
Skillsoft ^*		11,132		130,690


Information Technology — 14.8%
8x8 ^*		15,034		323,983
Brightcove ^*		7,002		67,429
RingCentral, Cl A ^*		1,398		301,940
Zoom Video Communications, Cl A ^*		1,262		266,799
				960,151


TOTAL UNITED STATES				3,361,774
TOTAL COMMON STOCK
(Cost $12,013,872)				6,477,494
TOTAL INVESTMENTS — 99.8%
(Cost $12,013,872)			$	6,477,494

Percentages are based on Net Assets of $6,487,707.

*	Non-income producing security.

ADR — American Depositary Receipt

Cl — Class

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

104

Schedule of Investments		November 30, 2021
	Global X Education ETF

As of November 30, 2021, 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.

For the year ended November 30, 2021, there were no transfers in or out of Level 3.

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

105

Schedule of Investments		November 30, 2021
	Global X Cannabis ETF

Sector Weightings (Unaudited)†:

	Shares		Value
COMMON STOCK — 100.0%
AUSTRALIA — 1.5%
Health Care — 1.5%
Creso Pharma ^{*(A) (B) (C)}		24,474,295	$	1,582,637


CANADA — 71.4%
Consumer Discretionary — 2.3%
Fire & Flower Holdings ^{* (C)}		5,389,956		2,394,976


Consumer Staples — 1.6%
Flora Growth ^{* (C)}		843,506		1,712,317


Health Care — 67.5%
Aurora Cannabis ^{* (C)}		1,460,216		9,374,587
Auxly Cannabis Group ^{* (C)}		20,502,971		3,596,171
Canopy Growth ^*		766,758		8,200,748
Cardiol Therapeutics, Cl A ^{* (C)}		973,955		1,943,658
Cronos Group ^*		1,869,066		8,436,149
FSD Pharma, Cl B ^{* (C)}		910,578		1,092,694
HEXO ^{* (C)}		3,747,377		4,148,172
MediPharm Labs ^{* (C)}		6,059,164		1,015,529
Organigram Holdings ^*		4,395,272		8,942,672
Sundial Growers ^{* (C)}		14,894,959		9,261,686
Tetra Bio-Pharma ^{* (C)}		9,864,746		1,691,802

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

106

Schedule of Investments		November 30, 2021
	Global X Cannabis ETF

	Shares		Value
COMMON STOCK — continued
CANADA — continued
Health Care — continued
Tilray, Cl 2 ^{* (C)}		939,916	$	9,511,950
Valens ^{* (C)}		1,208,803		4,014,267
				71,230,085


TOTAL CANADA				75,337,378
ISRAEL — 4.8%
Health Care — 4.8%
Intercure ^*		666,127		4,995,953


UNITED STATES — 22.3%
Consumer Staples — 0.8%
Grove ^{* (C)}		173,640		857,781


Financials — 4.7%
AFC Gamma ^‡		231,984		5,017,814


Health Care — 15.3%
cbdMD ^*		907,862		1,525,208
Charlottes Web Holdings ^{* (C)}		3,061,888		4,033,825
Corbus Pharmaceuticals Holdings ^*		3,137,562		2,709,285
MyMD Pharmaceuticals ^{* (C)}		570,655		4,371,217
Zynerba Pharmaceuticals ^*		1,013,465		3,506,589
				16,146,124


Industrials — 1.5%
India Globalization Capital ^{* (C)}		1,175,631		1,540,077


TOTAL UNITED STATES				23,561,796
TOTAL COMMON STOCK
(Cost $183,537,248)				105,477,764

SHORT-TERM INVESTMENT^(D)(E) — 14.7%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010%
(Cost $15,550,744)		15,550,744		15,550,744

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

107

Schedule of Investments		November 30, 2021
	Global X Cannabis ETF

	Face Amount		Value
REPURCHASE AGREEMENT^(D) — 17.3%
BNP Paribas
0.030%, dated 11/30/2021, to be repurchased on 12/01/2021, repurchase price $18,277,422 (collateralized by various U.S. Treasury Obligations, ranging in par value $116,188 - $1,708,403, 0.750% - 1.130%, 02/28/2025 - 04/30/2026, with a total market value of $18,591,629)
(Cost $18,277,407)	$	18,277,407	$	18,277,407
TOTAL INVESTMENTS — 132.0%
(Cost $217,365,399)			$	139,305,915

Percentages are based on Net Assets of $105,548,843.

*	Non-income producing security.
‡	Real Estate Investment Trust
(A)	Level 3 security in accordance with fair value hierarchy.
(B)	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 November 30, 2021, was $1,582,637 and represents 1.5% of Net Assets.
(C)	This security or a partial position of this security is on loan at November 30, 2021. The total value of securities on loan at November 30, 2021 was $30,897,724.
(D)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of November 30, 2021 was $33,828,151.
(E)	The rate reported on the Schedule of Investments is the 7-day effective yield as of November 30, 2021.

Cl — Class

The following is a summary of the level of inputs used as of November 30, 2021, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	103,895,127	$	—	$	1,582,637	$	105,477,764
Short-Term Investment		15,550,744		—		—		15,550,744
Repurchase Agreement		—		18,277,407		—		18,277,407
Total Investments in Securities	$	119,445,871	$	18,277,407	$	1,582,637	$	139,305,915

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

108

Schedule of Investments		November 30, 2021
	Global X Cannabis ETF

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value:

	Investments in Common Stock
Beginning Balance as of November 30, 2020	$	−
Transfers out of Level 3		−
Transfers into Level 3		1,582,637
Net purchases		−
Net sales		−
Realized gain/(loss)		−
Change in unrealized appreciation/(depreciation)		−
Ending Balance as of November 30, 2021	$	1,582,637

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

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

109

Schedule of Investments		November 30, 2021
	Global X Genomics & Biotechnology ETF

Sector Weightings (Unaudited)†:

	Shares		Value
COMMON STOCK — 100.0%
CHINA — 5.2%
Health Care — 5.2%
Genscript Biotech ^*		2,530,818	$	13,310,099


FRANCE — 0.5%
Health Care — 0.5%
Cellectis ADR ^{* (A)}		160,238		1,381,252


GERMANY — 2.6%
Health Care — 2.6%
BioNTech ADR ^*		19,176		6,744,966


JAPAN — 1.5%
Health Care — 1.5%
Takara Bio		164,311		3,818,898


NETHERLANDS — 2.0%
Health Care — 2.0%
ProQR Therapeutics ^{* (A)}		175,663		1,240,181
uniQure ^*		135,654		3,777,964


TOTAL NETHERLANDS				5,018,145
SWITZERLAND — 3.6%
Health Care — 3.6%
CRISPR Therapeutics ^*		115,348		9,216,305

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

110

Schedule of Investments		November 30, 2021
	Global X Genomics & Biotechnology ETF

	Shares		Value
COMMON STOCK — continued
UNITED STATES — 84.6%
Health Care — 84.6%
2seventy bio ^*		78,256	$	2,061,263
Adverum Biotechnologies ^*		418,423		728,056
Agilent Technologies		68,931		10,401,688
Allogene Therapeutics ^*		236,977		4,381,705
Alnylam Pharmaceuticals ^*		55,983		10,289,675
Arrowhead Pharmaceuticals ^*		165,978		11,626,759
BioMarin Pharmaceutical ^*		149,246		12,878,437
Bluebird Bio ^*		234,652		2,372,332
CareDx ^*		158,705		6,846,534
Caribou Biosciences ^{* (A)}		168,827		3,138,494
Dicerna Pharmaceuticals ^*		243,717		9,263,683
Editas Medicine, Cl A ^*		243,123		7,940,397
Gilead Sciences		80,069		5,519,156
Homology Medicines ^*		143,602		725,190
Illumina ^*		12,978		4,741,253
Intellia Therapeutics ^*		82,579		9,497,411
Invitae ^*		398,363		6,772,171
Moderna ^*		15,666		5,521,168
Myriad Genetics ^*		268,746		6,949,772
NanoString Technologies ^*		158,811		6,527,132
Natera ^*		93,896		8,587,728
Pacific Biosciences of California ^*		419,559		9,737,964
Precision BioSciences ^*		173,995		1,576,395
QIAGEN ^*		200,269		11,040,830
REGENXBIO ^*		129,696		4,150,272
Rocket Pharmaceuticals ^*		220,658		5,390,675
Sangamo Therapeutics ^*		429,710		3,562,296
Sarepta Therapeutics ^*		138,501		11,192,266
Sorrento Therapeutics ^{* (A)}		998,991		5,953,986
Ultragenyx Pharmaceutical ^*		131,076		9,860,847
Veracyte ^*		235,904		9,785,298

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

111

Schedule of Investments		November 30, 2021
	Global X Genomics & Biotechnology ETF

	Shares/Face Amount		Value
COMMON STOCK — continued
Health Care — continued
Vertex Pharmaceuticals ^*		29,548	$	5,523,703
WaVe Life Sciences ^*		180,924		705,604
ZIOPHARM Oncology ^{* (A)}		687,950		956,251


TOTAL UNITED STATES				216,206,391
TOTAL COMMON STOCK
(Cost $283,435,742)				255,696,056

SHORT-TERM INVESTMENT^(B)(C) — 1.2%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010%
(Cost $3,047,265)		3,047,265		3,047,265

REPURCHASE AGREEMENT^(B) — 1.4%
BNP Paribas
0.030%, dated 11/30/2021, to be repurchased on 12/01/2021, repurchase price $3,581,574 (collateralized by various U.S. Treasury Obligations, ranging in par value $22,768 - $334,772, 0.750% - 1.130%, 02/28/2025 - 04/30/2026, with a total market value of $3,643,144)
(Cost $3,581,571)	$	3,581,571		3,581,571
TOTAL INVESTMENTS — 102.6%
(Cost $290,064,578)			$	262,324,892

Percentages are based on Net Assets of $255,572,096.

*	Non-income producing security.
(A)	This security or a partial position of this security is on loan at November 30, 2021. The total value of securities on loan at November 30, 2021 was $6,610,019.
(B)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of November 30, 2021 was $6,628,836.
(C)	The rate reported on the Schedule of Investments is the 7-day effective yield as of November 30, 2021.

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

112

Schedule of Investments		November 30, 2021
	Global X Genomics & Biotechnology ETF

ADR — American Depositary Receipt

Cl — Class

The following is a summary of the level of inputs used as of November 30, 2021, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	255,696,056	$	—	$	—	$	255,696,056
Short-Term Investment		3,047,265		—		—		3,047,265
Repurchase Agreement		—		3,581,571		—		3,581,571
Total Investments in Securities	$	258,743,321	$	3,581,571	$	—	$	262,324,892

For the year ended November 30, 2021, there were no transfers in or out of Level 3.

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

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

113

Schedule of Investments		November 30, 2021
	Global X China Biotech Innovation ETF

Sector Weightings (Unaudited)†:

† Sector weightings percentages are based on the total market value of investments.

	Shares		Value
COMMON STOCK — 99.8%
CHINA — 95.5%
Consumer Discretionary — 2.3%
Liaoning Cheng Da, Cl A		34,800	$	100,850


Consumer Staples — 3.0%
Fu Jian Anjoy Foods, Cl A		4,700		128,024


Health Care — 90.2%
3SBio ^*		57,500		49,196
Alphamab Oncology ^*		17,400		42,407
Anhui Anke Biotechnology Group, Cl A		37,180		77,079
Ascentage Pharma Group International ^*		5,900		24,596
BeiGene ADR ^*		926		321,813
Beijing Bohui Innovation Biotechnology Group, Cl A ^*		32,100		57,134
Beijing SL Pharmaceutical, Cl A		23,500		39,432
Beijing Tiantan Biological Products, Cl A		23,157		108,979
Beijing Wantai Biological Pharmacy Enterprise, Cl A		2,640		103,706
Berry Genomics, Cl A ^*		7,955		27,719
BGI Genomics, Cl A		7,838		116,768
Changchun High & New Technology Industry Group, Cl A		8,074		358,799
Chengdu Kanghua Biological Products, Cl A		900		23,714
Daan Gene, Cl A		34,080		113,514
Genscript Biotech ^*		44,750		235,350
Getein Biotech, Cl A		7,000		22,843
Guangdong Hybribio Biotech, Cl A		6,042		28,860
Hualan Biological Engineering, Cl A		38,200		173,123

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

114

Schedule of Investments		November 30, 2021
	Global X China Biotech Innovation ETF

	Shares		Value
COMMON STOCK — continued
Health Care — continued
Joinn Laboratories China, Cl A		5,160	$	113,285
JW Cayman Therapeutics ^*		7,600		12,322
Kintor Pharmaceutical ^*		7,300		52,766
PharmaBlock Sciences Nanjing, Cl A		5,081		121,478
Shanghai Haohai Biological Technology, Cl A		5,442		113,246
Shanghai RAAS Blood Products, Cl A		111,100		114,117
Shenzhen Kangtai Biological Products, Cl A		19,071		343,687
Shenzhen Neptunus Bioengineering, Cl A ^*		58,100		29,793
Shenzhen Weiguang Biological Products, Cl A		2,680		13,760
Sichuan Kelun Pharmaceutical, Cl A		32,800		97,728
Viva Biotech Holdings		32,000		19,169
Walvax Biotechnology, Cl A		38,000		409,983
Wuxi Biologics Cayman ^*		22,450		305,828
Zai Lab ADR ^*		1,816		125,758
Zhejiang Wolwo Bio-Pharmaceutical, Cl A		9,900		87,033
				3,884,985


TOTAL CHINA				4,113,859
HONG KONG — 4.3%
Health Care — 4.3%
Sino Biopharmaceutical		257,900		188,235


TOTAL COMMON STOCK
(Cost $4,269,436)				4,302,094
TOTAL INVESTMENTS — 99.8%
(Cost $4,269,436)			$	4,302,094

Percentages are based on Net Assets of $4,308,616.

*	Non-income producing security.

ADR — American Depositary Receipt

Cl — Class

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

115

Schedule of Investments		November 30, 2021
	Global X China Biotech Innovation ETF

As of November 30, 2021, 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.

For the year ended November 30, 2021, there were no transfers in or out of Level 3.

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

116

Schedule of Investments		November 30, 2021
	Global X Telemedicine & Digital Health ETF

Sector Weightings (Unaudited)†:

	Shares		Value
COMMON STOCK — 99.8%
CHINA — 9.4%
Consumer Discretionary — 4.3%
JD Health International ^*		2,318,050	$	20,219,399


Health Care — 5.1%
Alibaba Health Information Technology ^*		16,169,800		14,913,173
Ping An Healthcare and Technology ^{* (A)}		2,511,900		9,472,971
				24,386,144


TOTAL CHINA				44,605,543
GERMANY — 2.6%
Health Care — 2.6%
CompuGroup Medical & KgaA		160,868		12,240,469


UNITED STATES — 87.8%
Financials — 0.7%
eHealth ^*		145,692		3,216,879


Health Care — 82.6%
1Life Healthcare ^*		893,547		14,234,204
Agilent Technologies		138,347		20,876,562
Allscripts Healthcare Solutions ^*		716,536		11,915,994
American Well, Cl A ^*		955,182		6,208,683
Cerner		307,135		21,637,661

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

117

Schedule of Investments		November 30, 2021
	Global X Telemedicine & Digital Health ETF

	Shares		Value
COMMON STOCK — continued
Health Care — continued
Change Healthcare ^*		1,013,652	$	20,556,863
Computer Programs and Systems ^*		81,687		2,407,316
DarioHealth ^*		102,563		1,603,060
Dexcom ^*		38,465		21,640,024
Doximity, Cl A ^*		281,056		19,013,438
GoodRx Holdings, Cl A ^*		372,094		14,853,992
Hims & Hers Health ^*		454,280		2,975,534
Illumina ^*		52,094		19,031,501
Invitae ^*		798,913		13,581,521
iRhythm Technologies ^*		170,535		18,008,496
Laboratory Corp of America Holdings ^*		76,583		21,851,427
LifeStance Health Group ^{* (A)}		403,075		3,200,415
NextGen Healthcare ^*		325,437		5,044,273
Omnicell ^*		127,768		22,614,936
Ontrak ^{* (A)}		174,566		1,059,616
OptimizeRx ^*		90,168		5,860,920
Personalis ^*		207,377		2,809,958
Phreesia ^*		273,334		15,765,905
R1 RCM ^*		803,139		19,130,771
Signify Health, Cl A ^{* (A)}		330,968		4,497,855
SmileDirectClub, Cl A ^{* (A)}		610,144		1,873,142
SOC Telemed, Cl A ^{* (A)}		813,220		1,650,837
Tabula Rasa HealthCare ^*		137,430		1,562,579
Tandem Diabetes Care ^*		164,926		21,196,290
Teladoc Health ^*		154,854		15,678,968
UnitedHealth Group		47,372		21,043,590
UpHealth ^*		903,525		2,358,200
Veracyte ^*		413,291		17,143,311
				392,887,842


Information Technology — 4.5%
Nuance Communications ^*		389,991		21,640,601

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

118

Schedule of Investments		November 30, 2021
	Global X Telemedicine & Digital Health ETF

	Shares/Face Amount		Value
COMMON STOCK — continued
TOTAL UNITED STATES			$	417,745,322
TOTAL COMMON STOCK
(Cost $586,822,194)				474,591,334

SHORT-TERM INVESTMENT^(B)(C) — 0.6%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010%
(Cost $3,146,194)		3,146,194		3,146,194

REPURCHASE AGREEMENT^(B) — 0.8%
BNP Paribas
0.030%, dated 11/30/2021, to be repurchased on 12/01/2021, repurchase price $3,697,850 (collateralized by various U.S. Treasury Obligations, ranging in par value $23,507 - $345,641, 0.750% - 1.130%, 02/28/2025 - 04/30/2026, with a total market value of $3,761,424)
(Cost $3,697,847)	$	3,697,847		3,697,847
TOTAL INVESTMENTS — 101.2%
(Cost $593,666,235)			$	481,435,375

Percentages are based on Net Assets of $475,575,915.

*	Non-income producing security.
(A)	This security or a partial position of this security is on loan at November 30, 2021. The total value of securities on loan at November 30, 2021 was $6,447,861.
(B)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of November 30, 2021 was $6,844,041.
(C)	The rate reported on the Schedule of Investments is the 7-day effective yield as of November 30, 2021.

Cl — Class

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

119

Schedule of Investments		November 30, 2021
	Global X Telemedicine & Digital Health ETF

The following is a summary of the level of inputs used as of November 30, 2021, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	474,591,334	$	—	$	—	$	474,591,334
Short-Term Investment		3,146,194		—		—		3,146,194
Repurchase Agreement		—		3,697,847		—		3,697,847
Total Investments in Securities	$	477,737,528	$	3,697,847	$	—	$	481,435,375

For the year ended November 30, 2021, there were no transfers in or out of Level 3.

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

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

120

Schedule of Investments		November 30, 2021
	Global X Aging Population ETF

Sector Weightings (Unaudited)†:

† Sector weightings percentages are based on the total market value of investments.

	Shares		Value
COMMON STOCK — 99.9%
AUSTRALIA — 0.6%
Health Care — 0.6%
Cochlear		2,358	$	364,148


BELGIUM — 1.6%
Health Care — 1.3%
UCB		7,079		766,051


Real Estate — 0.3%
Aedifica ^‡		1,514		201,430


TOTAL BELGIUM				967,481
CANADA — 0.3%
Health Care — 0.3%
Chartwell Retirement Residences		18,614		160,050


CHINA — 4.3%
Health Care — 4.3%
AK Medical Holdings		131,800		113,104
BeiGene ADR ^*		3,317		1,152,757
Beijing Chunlizhengda Medical Instruments, Cl H ^*		73,900		174,042
Hansoh Pharmaceutical Group		214,000		437,012
Lifetech Scientific ^*		368,100		199,730
Luye Pharma Group ^*		315,347		144,813
Microport Scientific		64,900		271,393
Venus MedTech Hangzhou, Cl H ^*		21,400		106,233

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

121

Schedule of Investments		November 30, 2021
	Global X Aging Population ETF

	Shares		Value
COMMON STOCK — continued
TOTAL CHINA			$	2,599,084
DENMARK — 7.5%
Health Care — 7.5%
Demant ^*		8,641		410,265
Genmab ^*		2,386		916,532
GN Store Nord		5,134		292,943
Novo Nordisk, Cl B		26,828		2,861,399


TOTAL DENMARK				4,481,139
FRANCE — 0.6%
Health Care — 0.6%
Korian		4,777		140,446
Orpea		2,327		218,446


TOTAL FRANCE				358,892
GERMANY — 1.1%
Health Care — 1.1%
Fresenius Medical Care & KGaA		10,687		634,902


IRELAND — 0.2%
Health Care — 0.2%
Amarin ADR ^*		30,293		109,055


ITALY — 0.7%
Health Care — 0.7%
Amplifon		8,153		395,711


JAPAN — 6.7%
Health Care — 6.7%
Astellas Pharma		67,657		1,060,334
Chugai Pharmaceutical		46,480		1,506,420
Kissei Pharmaceutical		8,560		172,188
Nipro		16,170		153,091
Terumo		27,645		1,126,787

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

122

Schedule of Investments		November 30, 2021
	Global X Aging Population ETF

	Shares		Value
COMMON STOCK — continued
TOTAL JAPAN			$	4,018,820
NEW ZEALAND — 0.2%
Health Care — 0.2%
Ryman Healthcare		17,776		148,394


SOUTH KOREA — 1.4%
Health Care — 1.4%
Celltrion ^*		5,008		872,680


SPAIN — 0.2%
Health Care — 0.2%
Pharma Mar		1,548		99,841


SWEDEN — 0.3%
Health Care — 0.3%
Elekta, Cl B		13,287		156,594


SWITZERLAND — 9.6%
Health Care — 9.6%
Alcon		18,143		1,425,718
Roche Holding		5,327		2,198,956
Sonova Holding		2,341		876,547
Straumann Holding		582		1,230,791


TOTAL SWITZERLAND				5,732,012
UNITED KINGDOM — 4.3%
Health Care — 4.3%
AstraZeneca ADR		37,535		2,058,044
Smith & Nephew		31,497		507,337


TOTAL UNITED KINGDOM				2,565,381
UNITED STATES — 60.3%
Health Care — 56.0%
2seventy bio ^*		2,093		55,130
AbbVie		17,494		2,016,708
ABIOMED ^*		1,641		516,554

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

123

Schedule of Investments		November 30, 2021
	Global X Aging Population ETF

	Shares		Value
COMMON STOCK — continued
Health Care — continued
ACADIA Pharmaceuticals ^*		8,797	$	168,902
Aerie Pharmaceuticals ^*		9,603		96,990
Agios Pharmaceuticals ^*		3,437		122,426
Alector ^*		9,624		198,736
Alphatec Holdings ^*		10,479		116,317
Amedisys ^*		1,215		169,675
Amgen		7,532		1,497,964
AngioDynamics ^*		7,519		193,614
Arena Pharmaceuticals ^*		2,754		150,065
Biogen ^*		5,507		1,298,220
Bluebird Bio ^*		6,275		63,440
Blueprint Medicines ^*		2,089		200,962
Boston Scientific ^*		47,923		1,824,429
Bristol-Myers Squibb		29,971		1,607,345
Brookdale Senior Living ^*		26,075		152,799
DaVita ^*		3,948		373,086
Denali Therapeutics ^*		4,306		199,196
Dexcom ^*		3,506		1,972,440
Edwards Lifesciences ^*		22,063		2,367,580
Eli Lilly		10,181		2,525,295
Ensign Group		1,953		149,072
Epizyme ^*		21,616		70,684
Exact Sciences ^*		6,168		526,562
Exelixis ^*		11,144		187,108
FibroGen ^*		9,666		120,922
Glaukos ^*		2,144		92,256
Halozyme Therapeutics ^*		5,153		169,431
Heron Therapeutics ^*		10,527		99,480
Incyte ^*		8,027		543,588
Inogen ^*		3,461		105,734
Insulet ^*		2,408		694,563
Integer Holdings ^*		1,976		157,566
Johnson & Johnson		11,384		1,775,107

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

124

Schedule of Investments		November 30, 2021
	Global X Aging Population ETF

	Shares		Value
COMMON STOCK — continued
Health Care — continued
LHC Group ^*		1,115	$	127,913
LivaNova ^*		2,304		184,689
MannKind ^*		42,151		195,159
Medtronic		15,364		1,639,339
Merit Medical Systems ^*		3,027		190,277
National HealthCare		2,388		154,002
Neurocrine Biosciences ^*		3,385		281,801
Novocure ^*		3,678		344,408
NuVasive ^*		2,727		131,060
Omeros ^*		10,283		74,038
Pennant Group ^*		4,114		83,638
Radius Health ^*		9,173		150,988
Regeneron Pharmaceuticals ^*		3,903		2,484,377
Seagen ^*		6,585		1,053,600
Silk Road Medical ^*		3,653		148,239
Stryker		7,430		1,758,161
Tactile Systems Technology ^*		3,484		67,938
Teleflex		1,692		503,235
Theravance Biopharma ^*		8,357		70,199
United Therapeutics ^*		1,633		309,453
Zimmer Biomet Holdings		7,593		908,123
				33,440,583


Real Estate — 4.3%
Diversified Healthcare Trust ^‡		37,760		105,350
LTC Properties ^‡		4,143		131,582
National Health Investors ^‡		2,411		125,951
Omega Healthcare Investors ^‡		8,532		238,384
Sabra Health Care ^‡		9,846		127,309
Ventas ^‡		13,521		634,405
Welltower ^‡		15,140		1,205,447
				2,568,428

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

125

Schedule of Investments		November 30, 2021
	Global X Aging Population ETF

	Value
COMMON STOCK — continued
TOTAL UNITED STATES	$	36,009,011
TOTAL COMMON STOCK
(Cost $61,263,502)		59,673,195
TOTAL INVESTMENTS — 99.9%
(Cost $61,263,502)	$	59,673,195

Percentages are based on Net Assets of $59,755,983.

*	Non-income producing security.
‡	Real Estate Investment Trust

ADR — American Depositary Receipt

Cl — Class

As of November 30, 2021, 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.

For the year ended November 30, 2021, there have been no transfers in or out of Level 3.

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

126

Schedule of Investments		November 30, 2021
	Global X Health & Wellness ETF

Sector Weightings (Unaudited)†:

† Sector weightings percentages are based on the total market value of investments.

	Shares		Value
COMMON STOCK — 99.8%
AUSTRALIA — 0.5%
Consumer Staples — 0.5%
Blackmores		2,907	$	187,961


CANADA — 3.0%
Consumer Discretionary — 3.0%
Gildan Activewear		30,202		1,218,392


CHINA — 11.0%
Consumer Discretionary — 11.0%
ANTA Sports Products		67,644		1,077,674
Li Ning		165,714		1,883,343
Topsports International Holdings		786,870		914,466
Xtep International Holdings		385,001		521,510


TOTAL CHINA				4,396,993
FRANCE — 2.4%
Consumer Staples — 2.4%
Danone		16,427		961,302


GERMANY — 5.8%
Consumer Discretionary — 5.8%
adidas		3,568		1,026,319
Puma		10,961		1,317,042


TOTAL GERMANY				2,343,361
HONG KONG — 1.2%
Consumer Discretionary — 1.2%
Huayi Tencent Entertainment ^*		2,030,851		63,042

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

127

Schedule of Investments		November 30, 2021
	Global X Health & Wellness ETF

	Shares		Value
COMMON STOCK — continued
Consumer Discretionary — continued
Yue Yuen Industrial Holdings ^*		243,591	$	422,449


TOTAL HONG KONG				485,491
IRELAND — 1.4%
Consumer Staples — 1.4%
Glanbia		44,104		566,429


ITALY — 0.7%
Consumer Discretionary — 0.7%
Technogym		30,430		279,324


JAPAN — 13.6%
Consumer Discretionary — 9.2%
ABC-Mart		12,471		586,509
Asics		28,711		712,560
Curves Holdings		14,130		96,320
Descente		11,595		470,764
Fast Fitness Japan		3,558		81,974
Goldwin		7,165		407,012
Shimano		4,879		1,349,250
				3,704,389


Consumer Staples — 3.6%
Ariake Japan		4,968		280,023
Yakult Honsha		23,127		1,154,873
				1,434,896


Health Care — 0.8%
Tsumura		11,594		330,324


TOTAL JAPAN				5,469,609
NETHERLANDS — 1.0%
Consumer Discretionary — 1.0%
Basic-Fit ^*		9,089		391,624

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

128

Schedule of Investments		November 30, 2021
	Global X Health & Wellness ETF

	Shares		Value
COMMON STOCK — continued
SOUTH KOREA — 1.5%
Consumer Discretionary — 1.5%
Fila Holdings		9,170	$	269,797
Hwaseung Enterprise		9,125		115,608
Youngone		6,695		218,395


TOTAL SOUTH KOREA				603,800
TAIWAN — 7.2%
Consumer Discretionary — 7.2%
Dyaco International		29,013		63,964
Feng TAY Enterprise		134,081		981,334
Fulgent Sun International Holding		28,765		101,799
Giant Manufacturing		56,858		636,993
Johnson Health Tech		44,901		96,732
Merida Industry		45,560		491,575
Pou Chen		444,886		512,816


TOTAL TAIWAN				2,885,213
UNITED KINGDOM — 5.4%
Consumer Discretionary — 5.4%
Frasers Group ^*		78,553		706,692
JD Sports Fashion		492,645		1,452,790


TOTAL UNITED KINGDOM				2,159,482
UNITED STATES — 45.1%
Consumer Discretionary — 27.2%
Columbia Sportswear		10,107		985,736
Dick’s Sporting Goods		9,971		1,172,191
Foot Locker		15,614		712,623
Hibbett		2,438		190,042
Lululemon Athletica ^*		3,773		1,714,489
Nautilus ^*		6,794		46,539
NIKE, Cl B		8,826		1,493,712
Peloton Interactive, Cl A ^*		9,551		420,244

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

129

Schedule of Investments		November 30, 2021
	Global X Health & Wellness ETF

	Shares		Value
COMMON STOCK — continued
Consumer Discretionary — continued
Planet Fitness, Cl A ^*		12,577	$	1,027,415
Shoe Carnival		4,256		166,409
Skechers USA, Cl A ^*		20,699		929,799
Under Armour, Cl A ^*		28,544		673,353
VF		14,134		1,013,832
WW International ^*		10,459		175,920
Zumiez ^*		3,860		176,634
				10,898,938


Consumer Staples — 11.5%
BellRing Brands, Cl A ^*		5,963		128,324
Calavo Growers		2,682		108,728
Cal-Maine Foods		6,669		240,484
Celsius Holdings ^*		10,986		751,552
Hain Celestial Group ^*		15,122		596,261
Herbalife Nutrition ^*		17,876		667,847
Medifast		1,787		367,657
Nu Skin Enterprises, Cl A		7,694		337,613
Sanderson Farms		3,392		636,950
Sprouts Farmers Market ^*		17,842		472,099
USANA Health Sciences ^*		3,123		311,426
				4,618,941


Health Care — 5.9%
Dexcom ^*		3,119		1,754,718
Prestige Consumer Healthcare ^*		7,545		422,143
Tivity Health ^*		7,423		176,816
				2,353,677


Industrials — 0.5%
Healthcare Services Group		11,287		197,523

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

130

Schedule of Investments		November 30, 2021
	Global X Health & Wellness ETF

	Value
COMMON STOCK — continued
TOTAL UNITED STATES	$	18,069,079
TOTAL COMMON STOCK
(Cost $40,052,611)		40,018,060
TOTAL INVESTMENTS — 99.8%
(Cost $40,052,611)	$	40,018,060

Percentages are based on Net Assets of $40,091,330.

*	Non-income producing security.

Cl — Class

As of November 30, 2021, 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.

For the year ended November 30, 2021, there were no transfers in or out of Level 3.

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

131

Schedule of Investments		November 30, 2021
	Global X CleanTech ETF

Sector Weightings (Unaudited)†:

† Sector weightings percentages are based on the total market value of investments.

	Shares		Value
COMMON STOCK — 100.0%
AUSTRALIA — 1.8%
Information Technology — 1.8%
Novonix ^*		378,123	$	3,203,887


BRAZIL — 0.6%
Industrials — 0.6%
Aeris Industria E Comercio De Equipamentos Para Geracao De Energia ^*		714,316		992,694


CANADA — 3.6%
Industrials — 2.4%
Ballard Power Systems ^*		278,630		4,224,031


Information Technology — 1.2%
Canadian Solar ^*		55,839		2,118,531


TOTAL CANADA				6,342,562
CHINA — 12.7%
Industrials — 3.4%
China Everbright Environment Group		5,752,100		3,822,018
Dongfang Electric, Cl H		307,400		492,102
Xinjiang Goldwind Science & Technology, Cl H		722,300		1,593,612
				5,907,732


Information Technology — 9.3%
Daqo New Energy ADR ^*		68,813		3,945,738
Flat Glass Group, Cl H		421,100		1,847,344
JinkoSolar Holding ADR ^*		44,558		2,329,492

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

132

Schedule of Investments		November 30, 2021
	Global X CleanTech ETF

	Shares		Value
COMMON STOCK — continued
Information Technology — continued
Xinyi Solar Holdings		4,462,900	$	8,186,339
				16,308,913


TOTAL CHINA				22,216,645
DENMARK — 4.8%
Industrials — 4.8%
Vestas Wind Systems		252,029		8,391,875


GERMANY — 5.2%
Industrials — 4.3%
Nordex ^*		149,703		2,657,320
Varta		37,855		4,797,813
				7,455,133


Information Technology — 0.9%
SMA Solar Technology		32,399		1,563,023


TOTAL GERMANY				9,018,156
NETHERLANDS — 1.1%
Industrials — 1.1%
Alfen Beheer BV ^*		20,340		1,959,776


NORWAY — 1.6%
Industrials — 1.6%
NEL ^*		1,365,824		2,843,671


SOUTH KOREA — 10.5%
Industrials — 2.5%
CS Wind		39,441		1,882,570
Doosan Fuel Cell ^*		61,259		2,539,781
				4,422,351


Information Technology — 5.2%
Samsung SDI		15,780		9,139,355


Materials — 2.8%
Hanwha Solutions ^*		179,173		4,977,447

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

133

Schedule of Investments		November 30, 2021
	Global X CleanTech ETF

	Shares		Value
COMMON STOCK — continued
TOTAL SOUTH KOREA			$	18,539,153
SPAIN — 5.6%
Industrials — 5.6%
Siemens Gamesa Renewable Energy ^*		369,038		9,774,053


SWITZERLAND — 1.7%
Information Technology — 1.7%
Landis+Gyr Group		27,016		1,687,405
Meyer Burger Technology ^*		2,491,793		1,200,391


TOTAL SWITZERLAND				2,887,796
TAIWAN — 1.2%
Information Technology — 1.2%
Simplo Technology		178,664		2,104,424


UNITED KINGDOM — 6.2%
Industrials — 3.3%
Ceres Power Holdings ^*		178,143		2,611,362
ITM Power ^*		515,276		3,122,224
				5,733,586


Materials — 2.9%
Johnson Matthey		186,369		5,168,013


TOTAL UNITED KINGDOM				10,901,599
UNITED STATES — 43.4%
Consumer Discretionary — 4.7%
QuantumScape, Cl A ^*		285,786		8,242,068


Industrials — 17.5%
Ameresco, Cl A ^*		31,205		2,818,748
Array Technologies ^*		125,374		2,258,613
Bloom Energy, Cl A ^*		136,403		3,748,354
FuelCell Energy ^*		301,511		2,617,115
Plug Power ^*		400,221		15,948,807
Shoals Technologies Group, Cl A ^*		97,255		2,732,865

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

134

Schedule of Investments		November 30, 2021
	Global X CleanTech ETF

	Shares		Value
COMMON STOCK — continued
Industrials — continued
TPI Composites ^*		34,750	$	619,593
				30,744,095


Information Technology — 21.2%
Enphase Energy ^*		62,648		15,662,000
First Solar ^*		76,647		7,940,629
SolarEdge Technologies ^*		27,470		9,003,567
SunPower, Cl A ^*		161,799		4,635,542
				37,241,738


TOTAL UNITED STATES				76,227,901
TOTAL COMMON STOCK
(Cost $194,043,222)				175,404,192
TOTAL INVESTMENTS — 100.0%
(Cost $194,043,222)			$	175,404,192

Percentages are based on Net Assets of $175,458,385.

*	Non-income producing security.

ADR — American Depositary Receipt

Cl — Class

As of November 30, 2021, 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.

For the year ended November 30, 2021, there were no transfers in or out of Level 3.

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

135

Schedule of Investments		November 30, 2021
	Global X U.S. Infrastructure Development ETF

Sector Weightings (Unaudited)†:

	Shares		Value
COMMON STOCK — 99.9%
Consumer Discretionary — 1.0%
TopBuild ^*		187,541	$	50,596,686
Industrials — 71.6%
Acuity Brands		205,925		41,462,999
Advanced Drainage Systems		397,515		49,176,581
AECOM ^*		836,577		57,673,618
Altra Industrial Motion		362,602		19,112,751
Arcosa		268,928		13,761,046
Argan		286,099		11,243,691
Astec Industries		191,089		11,977,459
Atkore ^*		266,853		28,419,844
Builders FirstSource ^*		1,161,276		80,639,005
Carlisle		301,989		68,007,923
Columbus McKinnon		299,830		13,318,449
Construction Partners, Cl A ^*		396,488		13,694,696
Crane		328,924		31,754,323
CSW Industrials		103,824		12,479,645
CSX		4,216,629		146,148,361
Deere		421,468		145,634,053
Dycom Industries ^*		180,606		16,883,049

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

136

Schedule of Investments		November 30, 2021
	Global X U.S. Infrastructure Development ETF

	Shares		Value
COMMON STOCK — continued
Industrials — continued
Eaton		1,027,873	$	166,577,098
EMCOR Group		310,930		37,106,386
Emerson Electric		1,525,567		134,005,805
Exponent		292,239		34,045,843
Fastenal		2,673,334		158,181,173
Fortive		1,837,839		135,761,167
Gibraltar Industries ^*		187,079		12,702,664
Gorman-Rupp		383,542		16,580,521
Graco		950,936		69,313,725
Granite Construction		381,755		14,842,634
Greenbrier		352,968		14,115,190
H&E Equipment Services		405,539		17,073,192
Herc Holdings		184,821		31,502,739
Howmet Aerospace		2,459,163		69,176,255
Hubbell, Cl B		307,025		60,084,792
IDEX		428,519		96,241,082
Insteel Industries		466,985		19,688,088
Jacobs Engineering Group		737,677		105,163,233
Kansas City Southern		530,632		154,334,317
Lincoln Electric Holdings		338,852		45,731,466
Manitowoc ^*		883,880		16,846,753
MasTec ^*		416,575		38,395,718
Matrix Service ^*		962,906		8,367,653
MRC Global ^*		1,744,985		12,005,497
Mueller Industries		339,525		18,785,918
Mueller Water Products, Cl A		1,037,751		14,154,924
MYR Group ^*		204,296		22,617,610
Norfolk Southern		523,743		138,933,306
Northwest Pipe ^*		396,599		11,414,119
NOW ^*		1,566,928		13,099,518
Parker-Hannifin		460,946		139,233,349
Pentair		942,652		69,464,026
Powell Industries		419,505		10,244,312

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

137

Schedule of Investments		November 30, 2021
	Global X U.S. Infrastructure Development ETF

	Shares		Value
COMMON STOCK — continued
Industrials — continued
Primoris Services		417,818	$	9,367,480
Quanta Services		786,075		89,439,613
RBC Bearings ^*		141,788		28,030,070
Regal Rexnord		150,739		23,831,836
Rockwell Automation		480,601		161,578,056
SPX ^*		249,691		14,519,532
Sterling Construction ^*		538,814		13,885,237
Team ^*		1,147,588		1,549,244
Terex		387,088		16,404,789
Tetra Tech		303,456		56,042,254
Titan Machinery ^*		570,303		18,956,872
Trane Technologies		834,562		155,770,997
Trinity Industries		644,453		17,078,004
Tutor Perini ^*		778,101		10,006,379
Union Pacific		619,289		145,929,260
United Rentals ^*		408,322		138,314,994
Valmont Industries		120,324		28,761,046
Wabash National		757,640		12,652,588
WESCO International ^*		282,897		35,116,005
Willdan Group ^*		250,498		10,022,425
Woodward		353,275		37,376,495
Zurn Water Solutions		677,014		23,729,341
				3,715,540,083
Information Technology — 3.2%
Badger Meter		168,055		17,202,110
Calix ^*		371,230		24,857,561
Trimble ^*		1,414,335		121,448,946
				163,508,617
Materials — 21.1%
Alcoa		1,052,538		48,974,593
Allegheny Technologies ^*		710,454		10,116,865
Arconic ^*		610,844		16,321,752

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

138

Schedule of Investments		November 30, 2021
	Global X U.S. Infrastructure Development ETF

	Shares		Value
COMMON STOCK — continued
Materials — continued
Century Aluminum ^*		1,104,677	$	14,614,877
Cleveland-Cliffs ^{* (A)}		2,260,074		45,992,506
Commercial Metals		672,425		20,777,932
Eagle Materials		236,868		36,529,783
Forterra ^*		611,980		14,559,004
Haynes International		533,843		21,391,089
Louisiana-Pacific		618,836		40,440,933
Martin Marietta Materials		352,480		142,229,205
Minerals Technologies		192,663		12,652,179
Nucor		1,709,694		181,672,084
Reliance Steel & Aluminum		360,376		53,562,685
RPM International		739,313		67,307,056
Ryerson Holding		920,266		21,561,832
Steel Dynamics		1,191,686		71,262,823
Summit Materials, Cl A ^*		643,353		23,997,067
United States Steel		1,237,379		27,977,139
Vulcan Materials		810,478		155,320,004
Westlake Chemical		723,052		67,185,992
				1,094,447,400
Utilities — 3.0%
MDU Resources Group		1,135,106		30,908,936
Sempra Energy		1,050,046		125,869,014
				156,777,950
TOTAL COMMON STOCK
(Cost $4,711,946,427)				5,180,870,736

SHORT-TERM INVESTMENT^(B)(C) — 0.3%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010%
(Cost $14,726,436)		14,726,436		14,726,436

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

139

Schedule of Investments		November 30, 2021
	Global X U.S. Infrastructure Development ETF

	Face Amount		Value
REPURCHASE AGREEMENT^(B) — 0.3%
BNP Paribas
0.030%, dated 11/30/2021, to be repurchased on 12/01/2021, repurchase price $17,308,579 (collateralized by various U.S. Treasury Obligations, ranging in par value $110,030 - $1,617,845, 0.750% - 1.130%, 02/28/2025 - 04/30/2026, with a total market value of $17,606,136)
(Cost $17,308,564)	$	17,308,564	$	17,308,564
TOTAL INVESTMENTS — 100.5%
(Cost $4,743,981,427)			$	5,212,905,736

Percentages are based on Net Assets of $5,186,496,734.

*	Non-income producing security.
(A)	This security or a partial position of this security is on loan at November 30, 2021. The total value of securities on loan at November 30, 2021 was $30,321,500.
(B)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of November 30, 2021 was $32,035,000.
(C)	The rate reported on the Schedule of Investments is the 7-day effective yield as of November 30, 2021.

Cl — Class

The following is a summary of the level of inputs used as of November 30, 2021, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	5,180,870,736	$	—	$	—	$	5,180,870,736
Short-Term Investment		14,726,436		—		—		14,726,436
Repurchase Agreement		—		17,308,564		—		17,308,564
Total Investments in Securities	$	5,195,597,172	$	17,308,564	$	—	$	5,212,905,736

For the year ended November 30, 2021, there were no transfers in or out of Level 3.

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

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

140

Schedule of Investments		November 30, 2021
	Global X Thematic Growth ETF

Sector Weightings (Unaudited)†:

	Shares		Value
EXCHANGE TRADED FUNDS — 99.9%
Global X Cannabis ETF ^(A)		869,385	$	6,346,511
Global X Cloud Computing ETF ^{* (A) (B)}		613,787		17,449,964
Global X FinTech ETF ^{* (A) (B)}		368,824		16,833,127
Global X Genomics & Biotechnology ETF ^{* (A)}		1,164,815		23,960,245
Global X Lithium & Battery Tech ETF ^(A)		113,408		10,545,810
Global X Renewable Energy Producers ETF ^(A)		579,305		9,141,433
Global X Robotics & Artificial Intelligence ETF ^(A)		260,185		9,418,697
Global X Social Media ETF ^{* (A)}		289,615		16,244,505
TOTAL EXCHANGE TRADED FUNDS
(Cost $123,783,568)				109,940,292

SHORT-TERM INVESTMENT^(C)(D) — 4.6%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010%
(Cost $5,090,738)		5,090,738		5,090,738

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

141

Schedule of Investments		November 30, 2021
	Global X Thematic Growth ETF

	Face Amount		Value
REPURCHASE AGREEMENT^(C) — 5.4%
BNP Paribas
0.030%, dated 11/30/2021, to be repurchased on 12/01/2021, repurchase price $5,983,351 (collateralized by various U.S. Treasury Obligations, ranging in par value $38,036 - $559,268, 0.750% - 1.130%, 02/28/2025 - 04/30/2026, with a total market value of $6,086,213)
(Cost $5,983,346)	$	5,983,346	$	5,983,346
TOTAL INVESTMENTS — 109.9%
(Cost $134,857,652)			$	121,014,376

Percentages are based on Net Assets of $110,081,440.

*	Non-income producing security.
(A)	Affiliated investment.
(B)	This security or a partial position of this security is on loan at November 30, 2021. The total value of securities on loan at November 30, 2021 was $10,555,613.
(C)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of November 30, 2021 was $11,074,084.
(D)	The rate reported on the Schedule of Investments is the 7-day effective yield as of November 30, 2021.

Cl — Class

ETF — Exchange Traded Fund

The following is a summary of the level of inputs used as of November 30, 2021, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Exchange Traded Funds	$	109,940,292	$	—	$	—	$	109,940,292
Short-Term Investment		5,090,738		—		—		5,090,738
Repurchase Agreement		—		5,983,346		—		5,983,346
Total Investments in Securities	$	115,031,030	$	5,983,346	$	—	$	121,014,376

For the year ended November 30, 2021, there were no transfers in or out of Level 3.

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

142

Schedule of Investments		November 30, 2021
	Global X Thematic Growth ETF

The following is a summary of the transactions with affiliates for the year ended November 30, 2021:

	Value at 11/30/20		Purchases at Cost		Proceeds from Sales			Changes in Unrealized Appreciation (Depreciation)			Realized Gain (Loss)		Value at 11/30/21		Shares		Dividend Income
Global X FinTech ETF	$	3,470,146	$	37,190,301	$	(24,601,175	)	$	(961,248	)	$	1,735,103	$	16,833,127		368,824	$	−
Global X Lithium & Battery Tech ETF		4,048,721		17,395,425		(15,560,147	)		631,350			4,030,461		10,545,810		113,408		13,201
Global X Robotics & Artificial Intelligence ETF		3,483,367		14,199,536		(9,126,305	)		(200,496	)		1,062,595		9,418,697		260,185		18,536
Global X Social Media ETF		3,585,488		20,115,252		(4,955,392	)		(3,708,540	)		1,207,697		16,244,505		289,615		−
Global X Cannabis ETF		9,262,548		30,654,205		(28,608,809	)		(8,168,267	)		3,206,834		6,346,511		869,385		174,236
Global X Cloud Computing ETF		6,196,733		25,143,960		(14,839,386	)		(887,107	)		1,835,764		17,449,964		613,787		−
Global X Genomics & Biotechnology ETF		5,982,932		27,907,559		(6,266,807	)		(5,103,368	)		1,439,929		23,960,245		1,164,815		9,743
Global X Renewable Energy Producers ETF		−		10,108,453		(609,462	)		(358,144	)		586		9,141,433		579,305		−
Totals:	$	36,029,935	$	182,714,691	$	(104,567,483	)	$	(18,755,820	)	$	14,518,969	$	109,940,292		4,259,324	$	215,716

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

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

143

Schedule of Investments		November 30, 2021
	Global X AgTech & Food Innovation ETF

Sector Weightings (Unaudited)†:

† Sector weightings percentages are based on the total market value of investments.

	Shares		Value
COMMON STOCK — 99.7%
AUSTRALIA — 3.8%
Materials — 3.8%
Nufarm		64,998	$	211,999


CANADA — 13.9%
Consumer Staples — 0.6%
Maple Leaf Foods		880		19,379
SunOpta ^*		2,379		14,203
				33,582


Materials — 13.3%
Nutrien		11,112		734,726


TOTAL CANADA				768,308
CHINA — 10.5%
Consumer Staples — 10.5%
Hebei Chengde Lolo, Cl A		149,580		236,678
Yuan Longping High-tech Agriculture, Cl A ^*		90,900		342,683


TOTAL CHINA				579,361
FRANCE — 2.3%
Consumer Staples — 2.3%
Danone		2,213		129,504

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

144

Schedule of Investments		November 30, 2021
	Global X AgTech & Food Innovation ETF

	Shares		Value
COMMON STOCK — continued
GERMANY — 3.1%
Health Care — 3.1%
Bayer		3,433	$	172,033


ISRAEL — 0.4%
Materials — 0.4%
ICL Group		2,382		20,882


PHILIPPINES — 0.4%
Consumer Staples — 0.4%
Monde Nissin ^*		60,422		20,410


UNITED KINGDOM — 4.6%
Consumer Staples — 4.6%
Unilever		4,970		253,740


UNITED STATES — 60.7%
Consumer Discretionary — 3.7%
GrowGeneration ^*		12,666		206,456


Consumer Staples — 27.8%
AppHarvest ^*		15,765		78,983
Archer-Daniels-Midland		1,930		120,065
Beyond Meat ^*		7,492		526,388
Hain Celestial Group ^*		431		16,994
Ingredion		223		20,768
Kellogg		1,181		72,254
Oatly Group ADR ^*		54,546		488,187
Sprouts Farmers Market ^*		866		22,914
Tattooed Chef ^*		11,911		191,648
				1,538,201


Industrials — 14.1%
AGCO		215		23,695
AgEagle Aerial Systems ^*		17,118		38,687
Agrify ^*		4,004		61,461
Hydrofarm Holdings Group ^*		6,706		221,298

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

145

Schedule of Investments		November 30, 2021
	Global X AgTech & Food Innovation ETF

	Shares/Face Amount		Value
COMMON STOCK — continued
Industrials — continued
Lindsay		1,841	$	267,902
Titan Machinery ^*		4,994		166,001
				779,044


Materials — 15.1%
Corteva		18,194		818,730
Scotts Miracle-Gro, Cl A		141		20,429
				839,159


TOTAL UNITED STATES				3,362,860
TOTAL COMMON STOCK
(Cost $6,434,176)				5,519,097

U.S. TREASURY OBLIGATION — 10.9%
U.S. Treasury Bill
0.050%, 12/16/21^(A)
(Cost $599,988)	$	600,000		599,983
TOTAL INVESTMENTS — 110.6%
(Cost $7,034,164)			$	6,119,080

Percentages are based on Net Assets of $5,533,480.

*	Non-income producing security.
(A)	Zero coupon security. The rate reported on the Schedule of Investments is the effective yield at time of purchase.

ADR — American Depositary Receipt

Cl — Class

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

146

Schedule of Investments		November 30, 2021
	Global X AgTech & Food Innovation ETF

The following is a summary of the level of inputs used as of November 30, 2021, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	5,498,687	$	20,410	$	—	$	5,519,097
U.S. Treasury Obligation		—		599,983		—		599,983
Total Investments in Securities	$	5,498,687	$	620,393	$	—	$	6,119,080

For the year ended November 30, 2021, there were no transfers in or out of Level 3.

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

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

147

Schedule of Investments		November 30, 2021
	Global X Blockchain ETF

Sector Weightings (Unaudited)†:

	Shares		Value
COMMON STOCK — 98.7%
CANADA — 24.0%


Information Technology — 24.0%
BIGG Digital Assets ^*		2,416,120	$	2,844,045
Bitfarms ^{* (A)}		872,715		6,599,108
Hive Blockchain Technologies ^*		1,553,966		5,863,109
Hut 8 Mining ^{* (A)}		753,124		9,152,793
Voyager Digital ^{* (A)}		440,048		6,205,541


TOTAL CANADA				30,664,596
CHINA — 12.4%
Consumer Discretionary — 0.6%
Future FinTech Group ^{* (A)}		493,628		774,996


Financials — 2.3%
BC Technology Group ^*		2,019,500		2,953,148


Industrials — 0.3%
SOS ADR ^*		247,491		316,789


Information Technology — 9.2%
Bit Digital ^{* (A)}		239,672		2,358,373

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

148

Schedule of Investments		November 30, 2021
	Global X Blockchain ETF

	Shares		Value
COMMON STOCK — continued
Information Technology — continued
BIT Mining ADR ^{* (A)}		94,700	$	698,886
Canaan ADR ^*		749,590		6,588,896
Ebang International Holdings, Cl A ^*		1,432,607		2,105,932
				11,752,087


TOTAL CHINA				15,797,020
GERMANY — 7.3%
Information Technology — 7.3%
Northern Data ^{* (A)}		76,010		9,376,980


HONG KONG — 1.0%
Financials — 1.0%
EQONEX ^*		332,916		1,334,993


UNITED KINGDOM — 4.3%
Information Technology — 4.3%
Argo Blockchain ^*		2,952,563		5,507,784


UNITED STATES — 49.7%
Consumer Discretionary — 2.0%
Overstock.com ^*		27,881		2,488,658


Financials — 16.7%
Coinbase Global, Cl A ^*		46,406		14,617,890
Galaxy Digital Holdings ^{* (A)}		280,427		6,724,302
				21,342,192


Information Technology — 31.0%
Cleanspark ^*		44,640		793,699
GreenBox POS ^*		223,331		1,163,555
Marathon Digital Holdings ^*		266,347		13,602,341
NVIDIA		9,889		3,231,330
PayPal Holdings ^*		8,188		1,513,879
Riot Blockchain ^*		467,524		17,471,372
Square, Cl A ^*		8,676		1,807,471
				39,583,647

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

149

Schedule of Investments		November 30, 2021
	Global X Blockchain ETF

	Shares/Face Amount		Value
COMMON STOCK — continued
TOTAL UNITED STATES			$	63,414,497
TOTAL COMMON STOCK
(Cost $122,546,121)				126,095,870

SHORT-TERM INVESTMENT^(B)(C) — 5.9%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010%
(Cost $7,508,909)		7,508,909		7,508,909

REPURCHASE AGREEMENT^(B) — 8.1%
BNP Paribas
0.030%, dated 11/30/2021, to be repurchased on 12/01/2021, repurchase price $10,277,581 (collateralized by various U.S. Treasury Obligations, ranging in par value $65,334 - $960,653, 0.750% - 1.130%, 02/28/2025 - 04/30/2026, with a total market value of $10,454,269)
(Cost $10,277,572)	$	10,277,572		10,277,572
TOTAL INVESTMENTS — 112.7%
(Cost $140,332,602)			$	143,882,351

Percentages are based on Net Assets of $127,720,212.

*	Non-income producing security.
(A)	This security or a partial position of this security is on loan at November 30, 2021. The total value of securities on loan at November 30, 2021 was $16,931,043.
(B)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of November 30, 2021 was $17,786,481.
(C)	The rate reported on the Schedule of Investments is the 7-day effective yield as of November 30, 2021.

ADR — American Depositary Receipt

Cl — Class

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

150

Schedule of Investments		November 30, 2021
	Global X Blockchain ETF

The following is a summary of the level of inputs used as of November 30, 2021, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	126,095,870	$	—	$	—	$	126,095,870
Short-Term Investment		7,508,909		—		—		7,508,909
Repurchase Agreement		—		10,277,572		—		10,277,572
Total Investments in Securities	$	133,604,779	$	10,277,572	$	—	$	143,882,351

For the year ended November 30, 2021, there have been no transfers in or out of Level 3.

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

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

151

Schedule of Investments		November 30, 2021
	Global X Clean Water ETF

Sector Weightings (Unaudited)†:

† Sector weightings percentages are based on the total market value of investments.

	Shares		Value
COMMON STOCK — 99.9%
BRAZIL — 1.6%
Utilities — 1.6%
Cia de Saneamento Basico do Estado de Sao Paulo		19,206	$	114,515
Cia de Saneamento de Minas Gerais -COPASA		11,057		25,095


TOTAL BRAZIL				139,610
CHILE — 0.4%
Utilities — 0.4%
Aguas Andinas, Cl A		149,968		31,862


CHINA — 6.2%
Industrials — 1.8%
Beijing Originwater Technology, Cl A		116,900		129,607
Zhongyuan Environment-Protection, Cl A		28,400		28,503
				158,110


Materials — 0.4%
Dalian Bio-Chemical, Cl A		13,200		30,698


Utilities — 4.0%
Beijing Enterprises Water Group		211,440		78,925
Chengdu Xingrong Environment, Cl A		67,300		63,639

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

152

Schedule of Investments		November 30, 2021
	Global X Clean Water ETF

	Shares		Value
COMMON STOCK — continued
Utilities — continued
Guangdong Investment		157,300	$	209,442
				352,006


TOTAL CHINA				540,814
FRANCE — 4.4%
Utilities — 4.4%
Suez		17,197		382,007


JAPAN — 3.7%
Industrials — 3.7%
Kurita Water Industries		5,342		249,352
METAWATER		1,519		26,087
Nomura Micro Science		542		23,127
Organo		424		25,467


TOTAL JAPAN				324,033
NORWAY — 0.2%
Industrials — 0.2%
Vow ^*		6,331		15,287


SINGAPORE — 1.0%
Utilities — 1.0%
Keppel Infrastructure Trust		225,147		87,848


SOUTH KOREA — 2.0%
Consumer Discretionary — 2.0%
Coway		3,020		172,114


UNITED KINGDOM — 11.7%
Utilities — 11.7%
Pennon Group		15,642		253,505
Severn Trent		10,013		382,313
United Utilities Group		26,424		379,129

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

153

Schedule of Investments		November 30, 2021
	Global X Clean Water ETF

	Shares		Value
COMMON STOCK — continued
TOTAL UNITED KINGDOM			$	1,014,947
UNITED STATES — 68.7%
Energy — 0.3%
Select Energy Services, Cl A ^*		4,897		28,060


Industrials — 36.9%
Advanced Drainage Systems		3,037		375,707
AO Smith		5,532		437,305
Energy Recovery ^*		2,117		44,986
Evoqua Water Technologies ^*		6,582		296,058
Franklin Electric		2,163		190,452
Mueller Water Products, Cl A		8,606		117,386
Pentair		8,424		620,765
Reliance Worldwide		43,529		190,432
Watts Water Technologies, Cl A		1,527		288,160
Xylem		5,379		651,451
				3,212,702


Information Technology — 1.9%
Badger Meter		1,608		164,595


Materials — 8.6%
Ecolab		3,193		707,153
Forterra ^*		1,676		39,872
				747,025


Utilities — 21.0%
American States Water		2,038		191,939
American Water Works		3,954		666,526
California Water Service Group		2,849		179,515
Essential Utilities		12,497		590,733
Middlesex Water		938		96,652
SJW Group		1,523		102,574
				1,827,939

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

154

Schedule of Investments		November 30, 2021
	Global X Clean Water ETF

	Value
COMMON STOCK — continued
TOTAL UNITED STATES	$	5,980,321
TOTAL COMMON STOCK
(Cost $8,567,659)		8,688,843
TOTAL INVESTMENTS — 99.9%
(Cost $8,567,659)	$	8,688,843

Percentages are based on Net Assets of $8,699,439.

*	Non-income producing security.

Cl — Class

As of November 30, 2021, 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.

For the year ended November 30, 2021, there have been no transfers in or out of Level 3.

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

155

Schedule of Investments		November 30, 2021
	Global X Hydrogen ETF

Sector Weightings (Unaudited)†:

† Sector weightings percentages are based on the total market value of investments.

	Shares		Value
COMMON STOCK — 99.0%
CANADA — 14.7%
Industrials — 14.7%
Ballard Power Systems ^*		230,498	$	3,494,350
NFI Group		4,713		75,684
Xebec Adsorption ^*		588,266		1,192,307


TOTAL CANADA				4,762,341
FRANCE — 5.0%
Consumer Discretionary — 0.2%
Cie Plastic Omnium		3,232		80,471


Industrials — 4.8%
McPhy Energy ^*		61,946		1,571,625


TOTAL FRANCE				1,652,096
JAPAN — 1.9%
Consumer Discretionary — 1.9%
Toyota Motor		34,955		616,011


NORWAY — 4.9%
Industrials — 4.9%
NEL ^*		760,732		1,583,858


SOUTH KOREA — 5.3%
Industrials — 5.3%
Doosan Fuel Cell ^*		31,548		1,307,971
S-Fuelcell		17,532		416,937

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

156

Schedule of Investments		November 30, 2021
	Global X Hydrogen ETF

	Shares		Value
COMMON STOCK — continued
TOTAL SOUTH KOREA			$	1,724,908
SWEDEN — 7.0%
Industrials — 7.0%
Cell Impact ^*		233,379		740,665
PowerCell Sweden ^*		62,300		1,524,084


TOTAL SWEDEN				2,264,749
UNITED KINGDOM — 14.0%
Industrials — 12.1%
AFC Energy ^*		1,926,967		1,244,093
Ceres Power Holdings ^*		91,438		1,340,371
ITM Power ^*		219,081		1,327,482
				3,911,946


Materials — 1.9%
Linde		1,983		630,872


TOTAL UNITED KINGDOM				4,542,818
UNITED STATES — 46.2%
Industrials — 44.3%
Advent Technologies Holdings ^*		110,205		844,170
Bloom Energy, Cl A ^*		171,254		4,706,060
Chart Industries ^*		824		143,829
Cummins		2,553		535,492
FuelCell Energy ^*		371,262		3,222,554
Hyster-Yale Materials Handling		1,856		72,866
Hyzon Motors ^*		15,797		119,899
Nikola ^*		8,098		82,762
Plug Power ^*		116,388		4,638,062
				14,365,694


Materials — 1.9%
Air Products & Chemicals		2,095		602,187

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

157

Schedule of Investments		November 30, 2021
	Global X Hydrogen ETF

	Value
COMMON STOCK — continued
TOTAL UNITED STATES	$	14,967,881
TOTAL COMMON STOCK
(Cost $32,638,409)		32,114,662
TOTAL INVESTMENTS — 99.0%
(Cost $32,638,409)	$	32,114,662

Percentages are based on Net Assets of $32,427,368.

*	Non-income producing security.

Cl — Class

As of November 30, 2021, 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.

For the year ended November 30, 2021, there have been no transfers in or out of Level 3.

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

158

Schedule of Investments		November 30, 2021
	Global X Solar ETF

Sector Weightings (Unaudited)†:

† Sector weightings percentages are based on the total market value of investments.

	Shares		Value
COMMON STOCK — 99.8%
CANADA — 1.2%
Information Technology — 1.2%
Canadian Solar ^*		2,763	$	104,828


CHINA — 54.1%
Industrials — 8.3%
ReneSola ADR ^*		3,723		25,688
Sungrow Power Supply, Cl A		28,400		719,169
				744,857


Information Technology — 41.2%
Daqo New Energy ADR ^*		4,228		242,434
Flat Glass Group, Cl H		24,700		108,358
Hangzhou First Applied Material, Cl A		18,100		345,148
JA Solar Technology, Cl A		35,200		480,016
Jiangsu Akcome Science & Technology, Cl A ^*		207,000		177,563
JinkoSolar Holding ADR ^*		2,730		142,724
LONGi Green Energy Technology, Cl A		52,700		722,462
Risen Energy, Cl A		32,700		184,605
Shenzhen SC New Energy Technology, Cl A		16,100		306,001
Tianjin Zhonghuan Semiconductor, Cl A		90,800		640,755
Xinyi Solar Holdings		192,300		352,738
				3,702,804


Utilities — 4.6%
CECEP Solar Energy, Cl A		156,900		246,046

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

159

Schedule of Investments		November 30, 2021
	Global X Solar ETF

	Shares		Value
COMMON STOCK — continued
Utilities — continued
GCL New Energy Holdings ^*		619,500	$	24,635
Jinko Power Technology, Cl A		65,100		95,350
Xinyi Energy Holdings		92,100		47,374
				413,405


TOTAL CHINA				4,861,066
GERMANY — 1.7%
Information Technology — 0.3%
SMA Solar Technology		556		26,823


Utilities — 1.4%
Encavis		6,811		124,809


TOTAL GERMANY				151,632
INDIA — 0.6%
Utilities — 0.6%
Azure Power Global ^*		2,761		56,877


JAPAN — 1.3%
Industrials — 0.5%
Abalance		573		19,530
gremz		1,007		22,393
				41,923


Utilities — 0.8%
West Holdings		1,292		74,531


TOTAL JAPAN				116,454
MALAYSIA — 0.2%
Industrials — 0.2%
Solarvest Holdings		82,522		22,926


SOUTH AFRICA — 1.3%
Utilities — 1.3%
Scatec		6,814		119,807

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

160

Schedule of Investments		November 30, 2021
	Global X Solar ETF

	Shares		Value
COMMON STOCK — continued
SOUTH KOREA — 2.1%
Materials — 2.1%
Hanwha Solutions ^*		6,895	$	191,544


SPAIN — 1.6%
Utilities — 1.6%
Atlantica Sustainable Infrastructure		3,732		143,160


SWEDEN — 0.3%
Industrials — 0.3%
SolTech Energy Sweden ^*		11,625		27,952


SWITZERLAND — 0.8%
Information Technology — 0.8%
Meyer Burger Technology ^*		143,564		69,160


TAIWAN — 2.2%
Industrials — 0.3%
Kenmec Mechanical Engineering		28,000		26,586


Information Technology — 1.9%
Gigastorage ^*		30,400		26,623
Motech Industries		24,500		29,078
Tainergy Tech ^*		20,500		25,142
TSEC ^*		23,500		30,511
United Renewable Energy ^*		79,818		60,858
				172,212


TOTAL TAIWAN				198,798
THAILAND — 0.3%
Utilities — 0.3%
Sermsang Power NVDR		64,940		23,897


TURKEY — 0.2%
Utilities — 0.2%
Esenboga Elektrik Uretim		8,740		19,853

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

161

Schedule of Investments		November 30, 2021
	Global X Solar ETF

	Shares/Face Amount		Value
COMMON STOCK — continued
UNITED STATES — 31.9%
Industrials — 8.4%
Array Technologies ^*		7,594	$	136,806
Beam Global ^*		904		23,992
FTC Solar ^*		3,943		33,752
Shoals Technologies Group, Cl A ^*		6,230		175,063
Sunrun ^*		8,043		370,300
Sunworks ^*		4,098		18,769
				758,682


Information Technology — 21.5%
Enphase Energy ^*		4,028		1,007,000
Maxeon Solar Technologies ^*		1,461		26,663
SolarEdge Technologies ^*		2,325		762,042
SunPower, Cl A ^*		4,793		137,319
				1,933,024


Utilities — 2.0%
Sunnova Energy International ^*		4,900		181,153


TOTAL UNITED STATES				2,872,859
TOTAL COMMON STOCK
(Cost $8,953,680)				8,980,813

U.S. TREASURY OBLIGATION — 5.6%
U.S. Treasury Bill
0.036%, 12/02/21^(A)
(Cost $499,999)	$	500,000		499,999
TOTAL INVESTMENTS — 105.4%
(Cost $9,453,679)			$	9,480,812

Percentages are based on Net Assets of $8,994,613.

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

162

Schedule of Investments		November 30, 2021
	Global X Solar ETF

*	Non-income producing security.
(A)	Zero coupon security. The rate reported on the Schedule of Investments is the effective yield at time of purchase.

ADR — American Depositary Receipt

Cl — Class

NVDR — Non-Voting Depositary Receipt

The following is a summary of the level of inputs used as of November 30, 2021, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	8,980,813	$	—	$	—	$	8,980,813
U.S. Treasury Obligation		—		499,999		—		499,999
Total Investments in Securities	$	8,980,813	$	499,999	$	—	$	9,480,812

For the year ended November 30, 2021, there have been no transfers in or out of Level 3.

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

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

163

Schedule of Investments		November 30, 2021
	Global X Wind Energy ETF

Sector Weightings (Unaudited)†:

† Sector weightings percentages are based on the total market value of investments.

	Shares		Value
COMMON STOCK — 99.6%
BRAZIL — 2.2%
Industrials — 0.5%
Aeris Industria E Comercio De Equipamentos Para Geracao De Energia ^*		17,200	$	23,903


Utilities — 1.7%
Omega Geracao ^*		15,900		76,395


TOTAL BRAZIL				100,298
CANADA — 17.1%
Utilities — 17.1%
Innergex Renewable Energy		11,136		164,592
Northland Power		15,921		474,602
TransAlta Renewables		9,046		130,739


TOTAL CANADA				769,933
CHINA — 41.8%
Industrials — 20.6%
Jinlei Technology, Cl A		16,700		166,244
Ming Yang Smart Energy Group, Cl A		49,800		248,889
Riyue Heavy Industry, Cl A		27,100		154,733
Titan Wind Energy Suzhou, Cl A		66,500		216,805
Xinjiang Goldwind Science & Technology, Cl H		65,800		145,175
				931,846

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

164

Schedule of Investments		November 30, 2021
	Global X Wind Energy ETF

	Shares		Value
COMMON STOCK — continued
Materials — 5.4%
Sinoma Science & Technology, Cl A		42,500	$	243,263


Utilities — 15.8%
CECEP Wind-Power, Cl A		210,000		210,762
China Datang Renewable Power, Cl H		202,000		77,993
China Longyuan Power Group, Cl H		207,600		426,073
				714,828


TOTAL CHINA				1,889,937
DENMARK — 22.2%
Industrials — 10.6%
Vestas Wind Systems		14,387		479,048


Utilities — 11.6%
Orsted		4,084		522,186


TOTAL DENMARK				1,001,234
GERMANY — 3.7%
Industrials — 3.7%
Nordex ^*		9,518		168,950


GREECE — 1.5%
Utilities — 1.5%
Terna Energy		4,488		68,198


HONG KONG — 2.3%
Industrials — 1.0%
Cadeler ^*		4,622		17,605
China High Speed Transmission Equipment Group ^*		34,300		28,423
				46,028


Utilities — 1.3%
Concord New Energy Group		560,000		57,466

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

165

Schedule of Investments		November 30, 2021
	Global X Wind Energy ETF

	Shares		Value
COMMON STOCK — continued
TOTAL HONG KONG			$	103,494
INDIA — 1.2%
Utilities — 1.2%
ReNew Energy Global, Cl A ^*		7,030		54,061


NORWAY — 0.3%
Industrials — 0.3%
Aker Offshore Wind ^*		24,773		13,959


SOUTH KOREA — 2.8%
Industrials — 2.8%
CS Bearing ^*		731		10,000
CS Wind		2,032		96,990
Unison ^*		8,959		20,023


TOTAL SOUTH KOREA				127,013
SWEDEN — 0.6%
Industrials — 0.6%
Eolus Vind, Cl B		1,711		24,973


SWITZERLAND — 0.9%
Materials — 0.9%
Gurit Holding		26		41,582


TAIWAN — 1.1%
Materials — 1.1%
Century Iron & Steel Industrial		12,000		48,338


UNITED STATES — 1.9%
Industrials — 1.9%
Infrastructure and Energy Alternatives ^*		3,362		31,804
TPI Composites ^*		3,067		54,685

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

166

Schedule of Investments		November 30, 2021
	Global X Wind Energy ETF

	Face Amount		Value
COMMON STOCK — continued
TOTAL UNITED STATES			$	86,489
TOTAL COMMON STOCK
(Cost $4,697,689)				4,498,459

U.S. TREASURY OBLIGATION — 11.1%
U.S. Treasury Bill
0.036%, 12/02/21^(A)
(Cost $500,000)	$	500,000		499,999
TOTAL INVESTMENTS — 110.7%
(Cost $5,197,689)			$	4,998,458

Percentages are based on Net Assets of $4,513,910.

*	Non-income producing security.
(A)	Zero coupon security. The rate reported on the Schedule of Investments is the effective yield at time of purchase.

Cl — Class

The following is a summary of the level of inputs used as of November 30, 2021, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	4,498,459	$	—	$	—	$	4,498,459
U.S. Treasury Obligation		—		499,999		—		499,999
Total Investments in Securities	$	4,498,459	$	499,999	$	—	$	4,998,458

For the year ended November 30, 2021, there have been no transfers in or out of Level 3.

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

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

167

	Statements of Assets and Liabilities
	November 30, 2021

	Global X Robotics & Artificial Intelligence ETF			Global X Internet of Things ETF			Global X FinTech ETF			Global X Video Games & Esports ETF
Assets:
Cost of Investments	$	2,138,137,844		$	376,474,757		$	1,025,870,726		$	548,847,573
Cost of Repurchase Agreement		87,378,306			2,472,384			25,500,080			8,331,841
Cost of Foreign Currency		728,039			250,457			419			6
Investments, at Value	$	2,772,790,122	*	$	518,430,185	*	$	1,309,455,793	*	$	491,733,376	*
Repurchase Agreement, at Value		87,378,306			2,472,384			25,500,080			8,331,841
Cash		—			495,553			1,120,801			401,708
Foreign Currency, at Value		724,423			250,458			383			6
Reclaim Receivable		3,940,124			127,542			137,487			—
Dividend, Interest, and Securities Lending Income Receivable		3,033,089			351,441			765,751			394,783
Unrealized Appreciation on Spot Contracts		3,391			—			—			—
Receivable for Capital Shares Sold		—			2,671,307			20,915			—
Due from Broker		—			500,426			390,092			—
Total Assets		2,867,869,455			525,299,296			1,337,391,302			500,861,714
Liabilities:
Obligation to Return Securities Lending Collateral		161,732,516			4,575,933			47,196,004			15,420,720
Payable due to Investment Adviser		1,588,232			294,441			778,759			205,983
Payable for Investment Securities Purchased		—			2,637,417			—			—
Payable for Capital Shares Redeemed		—			500,426			390,092			—
Cash Overdraft		1,058,064			—			—			—
Custodian Fees Payable		2,252			1			—			29
Due to Broker		—			—			20,915			—
Total Liabilities		164,381,064			8,008,218			48,385,770			15,626,732
Net Assets	$	2,703,488,391		$	517,291,078		$	1,289,005,532		$	485,234,982
Net Assets Consist of:
Paid-in Capital	$	2,224,935,053		$	375,666,572		$	1,041,686,884		$	546,048,374
Total Distributable Earnings/(Loss)		478,553,338			141,624,506			247,318,648			(60,813,392	)
Net Assets	$	2,703,488,391		$	517,291,078		$	1,289,005,532		$	485,234,982
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)		74,590,000			13,730,000			28,320,000			16,440,000
Net Asset Value, Offering and Redemption Price Per Share	$	36.24		$	37.68		$	45.52		$	29.52
*Includes Market Value of Securities on Loan	$	153,743,092		$	4,341,670		$	44,935,368		$	14,941,607

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

168

	Statements of Assets and Liabilities
	November 30, 2021

	Global X Autonomous & Electric Vehicles ETF			Global X Cloud Computing ETF			Global X Data Center REITs & Digital Infrastructure ETF		Global X Cybersecurity ETF
Assets:
Cost of Investments	$	1,234,043,824		$	1,302,977,350		$	82,992,154	$	1,131,407,313
Cost of Repurchase Agreement		10,697,536			7,447,695			—		—
Cost of Foreign Currency		23,874			6			1		21,901
Investments, at Value	$	1,330,268,394	*	$	1,323,780,893	*	$	87,963,116	$	1,130,665,464
Repurchase Agreement, at Value		10,697,536			7,447,695			—		—
Cash		1,810,543			835,033			—		3,769,886
Foreign Currency, at Value		27,964			6			1		21,841
Receivable for Capital Shares Sold		25,673,949			41,352,810			—		5,714,421
Dividend, Interest, and Securities Lending Income Receivable		1,111,822			100,871			48,803		314,811
Reclaim Receivable		67,332			—			—		1,698
Unrealized Appreciation on Spot Contracts		696			—			—		—
Receivable for Investment Securities Sold		—			1,422,551			—		—
Due from Broker		473,032			15,125,838			—		4,932,084
Total Assets		1,370,131,268			1,390,065,697			88,011,920		1,145,420,205
Liabilities:
Obligation to Return Securities Lending Collateral		19,799,191			13,784,327			—		—
Payable for Investment Securities Purchased		18,836,898			—			—		7,931,376
Payable due to Investment Adviser		700,307			839,807			31,850		465,735
Payable for Capital Shares Redeemed		473,032			16,544,687			—		4,932,084
Unrealized Depreciation on Spot Contracts		—			—			—		713
Cash Overdraft		—			—			9,882,485		—
Custodian Fees Payable		—			94			—		13
Due to Broker		6,775,812			41,352,810			—		—
Total Liabilities		46,585,240			72,521,725			9,914,335		13,329,921
Net Assets	$	1,323,546,028		$	1,317,543,972		$	78,097,585	$	1,132,090,284
Net Assets Consist of:
Paid-in Capital	$	1,232,526,745		$	1,306,085,830		$	72,651,720	$	1,136,733,048
Total Distributable Earnings/(Loss)		91,019,283			11,458,142			5,445,865		(4,642,764	)
Net Assets	$	1,323,546,028		$	1,317,543,972		$	78,097,585	$	1,132,090,284
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)		43,520,002			46,430,000			4,380,000		35,660,000
Net Asset Value, Offering and Redemption Price Per Share	$	30.41		$	28.38		$	17.83	$	31.75
*Includes Market Value of Securities on Loan	$	18,839,898		$	12,320,036		$	—	$	—

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

169

	Statements of Assets and Liabilities
	November 30, 2021

	Global X Artificial Intelligence & Technology ETF			Global X Millennial Consumer ETF			Global X Education ETF			Global X Cannabis ETF
Assets:
Cost of Investments	$	171,177,041		$	206,505,133		$	12,013,872		$	199,087,992
Cost of Repurchase Agreement		573,597			998,652			—			18,277,407
Cost of Foreign Currency		(716	)		—			1,891			—
Investments, at Value	$	186,708,628	*	$	227,730,745	*	$	6,477,494		$	121,028,508	*
Repurchase Agreement, at Value		573,597			998,652			—			18,277,407
Cash		78,423			268,918			14,860			—
Foreign Currency, at Value		—			—			1,891			268,529
Receivable for Capital Shares Sold		231,493			2,641,477			—			—
Dividend, Interest, and Securities Lending Income Receivable		134,960			25,058			4,379			172,687
Reclaim Receivable		5,814			—			—			—
Receivable for Investment Securities Sold		—			1,312,474			—			28,344
Due from Broker		—			—			—			113,968
Total Assets		187,732,915			232,977,324			6,498,624			139,889,443
Liabilities:
Obligation to Return Securities Lending Collateral		1,061,624			1,848,323			—			33,828,151
Payable due to Investment Adviser		104,606			97,966			2,834			49,217
Overdraft of Foreign Currency		705			—			—			—
Payable for Investment Securities Purchased		—			—			8,073			296,873
Payable for Capital Shares Redeemed		—			1,314,192			—			113,968
Unrealized Depreciation on Spot Contracts		—			—			10			—
Cash Overdraft		—			—			—			52,305
Custodian Fees Payable		20			—			—			86
Due to Broker		231,493			2,641,477			—			—
Total Liabilities		1,398,448			5,901,958			10,917			34,340,600
Net Assets	$	186,334,467		$	227,075,366		$	6,487,707		$	105,548,843
Net Assets Consist of:
Paid-in Capital	$	172,172,924		$	206,836,339		$	12,996,200		$	280,326,173
Total Distributable Earnings/(Loss)		14,161,543			20,239,027			(6,508,493	)		(174,777,330	)
Net Assets	$	186,334,467		$	227,075,366		$	6,487,707		$	105,548,843
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)		5,900,002			5,320,000			680,000			14,610,000
Net Asset Value, Offering and Redemption Price Per Share	$	31.58		$	42.68		$	9.54		$	7.22
*Includes Market Value of Securities on Loan	$	1,024,376		$	1,671,352		$	—		$	30,897,724

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

170

	Statements of Assets and Liabilities
	November 30, 2021

	Global X Genomics & Biotechnology ETF			Global X China Biotech Innovation ETF			Global X Telemedicine & Digital Health ETF			Global X Aging Population ETF
Assets:
Cost of Investments	$	286,483,007		$	4,269,436		$	589,968,388		$	61,263,502
Cost of Repurchase Agreement		3,581,571			—			3,697,847			—
Cost of Foreign Currency		2			—			—			2
Investments, at Value	$	258,743,321	*	$	4,302,094		$	477,737,528	*	$	59,673,195
Repurchase Agreement, at Value		3,581,571			—			3,697,847			—
Cash		—			8,751			1,265,529			33,864
Foreign Currency, at Value		2			—			—			2
Dividend, Interest, and Securities Lending Income Receivable		2,135			—			20,120			55,326
Receivable for Capital Shares Sold		—			—			38,144			—
Receivable for Investment Securities Sold		—			—			489,350			—
Reclaim Receivable		—			—			11,347			19,681
Due from Broker		—			—			—			1,008
Total Assets		262,327,029			4,310,845			483,259,865			59,783,076
Liabilities:
Obligation to Return Securities Lending Collateral		6,628,836			—			6,844,041			—
Payable due to Investment Adviser		110,027			2,223			312,125			26,083
Payable for Capital Shares Redeemed		—			—			489,611			1,008
Cash Overdraft		16,025			—			—			—
Custodian Fees Payable		45			6			29			2
Due to Broker		—			—			38,144			—
Total Liabilities		6,754,933			2,229			7,683,950			27,093
Net Assets	$	255,572,096		$	4,308,616		$	475,575,915		$	59,755,983
Net Assets Consist of:
Paid-in Capital	$	290,963,887		$	4,641,506		$	598,402,613		$	62,171,557
Total Distributable Loss		(35,391,791	)		(332,890	)		(122,826,698	)		(2,415,574	)
Net Assets	$	255,572,096		$	4,308,616		$	475,575,915		$	59,755,983
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)		12,400,000			270,000			29,140,000			2,180,000
Net Asset Value, Offering and Redemption Price Per Share	$	20.61		$	15.96		$	16.32		$	27.41
*Includes Market Value of Securities on Loan	$	6,610,019		$	—		$	6,447,861		$	—

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

171

	Statements of Assets and Liabilities
	November 30, 2021

	Global X Health & Wellness ETF			Global X CleanTech ETF			Global X U.S. Infrastructure Development ETF			Global X Thematic Growth ETF
Assets:
Cost of Investments	$	40,052,611		$	194,043,222		$	4,726,672,863		$	5,090,738
Cost of Repurchase Agreement		—			—			17,308,564			5,983,346
Cost of Affiliated Investments		—			—			—			123,783,568
Cost of Foreign Currency		7			3			—			—
Investments, at Value	$	40,018,060		$	175,404,192		$	5,195,597,172	*	$	5,090,738	*
Repurchase Agreement, at Value		—			—			17,308,564			5,983,346
Affiliated Investments, at Value		—			—			—			109,940,292
Cash		43,507			111,858			13,303,920			117,198
Foreign Currency, at Value		7			3			—			—
Dividend, Interest, and Securities Lending Income Receivable		41,161			—			4,737,687			20,542
Reclaim Receivable		6,046			18,668			150,746			—
Receivable for Capital Shares Sold		—			—			33,219,714			3,857,201
Receivable due from Investment Adviser		—			—			—			11,869
Total Assets		40,108,781			175,534,721			5,264,317,803			125,021,186
Liabilities:
Obligation to Return Securities Lending Collateral		—			—			32,035,000			11,074,084
Payable due to Investment Adviser		17,451			76,336			2,033,978			—
Payable for Investment Securities Purchased		—			—			43,752,091			3,865,662
Total Liabilities		17,451			76,336			77,821,069			14,939,746
Net Assets	$	40,091,330		$	175,458,385		$	5,186,496,734		$	110,081,440
Net Assets Consist of:
Paid-in Capital	$	40,602,821		$	208,557,074		$	4,721,020,173		$	126,829,991
Total Distributable Earnings/(Loss)		(511,491	)		(33,098,689	)		465,476,561			(16,748,551	)
Net Assets	$	40,091,330		$	175,458,385		$	5,186,496,734		$	110,081,440
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)		1,430,000			8,590,000			190,770,000			2,310,000
Net Asset Value, Offering and Redemption Price Per Share	$	28.04		$	20.43		$	27.19		$	47.65
*Includes Market Value of Securities on Loan	$	—		$	—		$	30,321,500		$	10,555,613

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

172

	Statements of Assets and Liabilities
	November 30, 2021

	Global X AgTech & Food Innovation ETF			Global X Blockchain ETF			Global X Clean Water ETF
Assets:
Cost of Investments	$	7,034,164		$	130,055,030		$	8,567,659
Cost of Repurchase Agreement		—			10,277,572			—
Cost of Foreign Currency		851			—			1,433
Investments, at Value	$	6,119,080		$	133,604,779	*	$	8,688,843
Repurchase Agreement, at Value		—			10,277,572			—
Cash		—			45,057			1,938
Foreign Currency, at Value		844			—			1,434
Receivable for Investment Securities Sold		283,984			1,431,153			—
Dividend, Interest, and Securities Lending Income Receivable		7,603			200,343			10,389
Reclaim Receivable		367			—			508
Unrealized Appreciation on Spot Contracts		—			—			1
Receivable for Capital Shares Sold		—			4,870,537			—
Due from Broker		51,555			995,697			—
Total Assets		6,463,433			151,425,138			8,703,113
Liabilities:
Obligation to Return Securities Lending Collateral		—			17,786,481			—
Payable for Investment Securities Purchased		257,808			2,593,046			—
Payable for Capital Shares Redeemed		51,555			995,697			—
Payable due to Investment Adviser		2,302			45,572			3,674
Unrealized Depreciation on Spot Contracts		170			—			—
Cash Overdraft		618,087			—			—
Custodian Fees Payable		31			47			—
Due to Broker		—			2,284,083			—
Total Liabilities		929,953			23,704,926			3,674
Net Assets	$	5,533,480		$	127,720,212		$	8,699,439
Net Assets Consist of:
Paid-in Capital	$	6,503,520		$	125,664,819		$	8,507,365
Total Distributable Earnings/(Loss)		(970,040	)		2,055,393			192,074
Net Assets	$	5,533,480		$	127,720,212		$	8,699,439
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)		280,000			3,950,000			520,000
Net Asset Value, Offering and Redemption Price Per Share	$	19.76		$	32.33		$	16.73
*Includes Market Value of Securities on Loan	$	—		$	16,931,043		$	—

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

173

	Statements of Assets and Liabilities
	November 30, 2021

	Global X Hydrogen ETF			Global X Solar ETF			Global X Wind Energy ETF
Assets:
Cost of Investments	$	32,638,409		$	9,453,679		$	5,197,689
Cost of Foreign Currency		—			(14,192	)		—
Investments, at Value	$	32,114,662		$	9,480,812		$	4,998,458
Receivable for Investment Securities Sold		329,678			39,182			—
Dividend, Interest, and Securities Lending Income Receivable		3,887			1,637			1,055
Unrealized Appreciation on Spot Contracts		1,696			66			—
Due from Broker		—			121,075			48,315
Total Assets		32,449,923			9,642,772			5,047,828
Liabilities:
Payable due to Investment Adviser		12,232			1,903			1,722
Payable for Investment Securities Purchased		—			4,411			—
Payable for Capital Shares Redeemed		—			121,075			48,315
Overdraft of Foreign Currency		—			14,192			—
Cash Overdraft		10,247			506,451			483,881
Custodian Fees Payable		76			127			—
Total Liabilities		22,555			648,159			533,918
Net Assets	$	32,427,368		$	8,994,613		$	4,513,910
Net Assets Consist of:
Paid-in Capital	$	33,092,140		$	8,984,259		$	4,767,391
Total Distributable Earnings/(Loss)		(664,772	)		10,354			(253,481	)
Net Assets	$	32,427,368		$	8,994,613		$	4,513,910
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)		1,330,000			350,000			190,000
Net Asset Value, Offering and Redemption Price Per Share	$	24.38		$	25.70		$	23.76

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

174

	Statements of Operations
	For the year ended November 30, 2021

	Global X Robotics & Artificial Intelligence ETF			Global X Internet of Things ETF			Global X FinTech ETF			Global X Video Games & Esports ETF
Investment Income:
Dividend Income	$	19,910,939		$	4,753,738		$	2,909,536		$	4,024,995
Interest Income		25			30			53			—
Security Lending Income		1,994,342			69,421			2,179,114			125,604
Less: Foreign Taxes Withheld		(2,608,761	)		(294,086	)		(57,489	)		(439,328	)
Total Investment Income		19,296,545			4,529,103			5,031,214			3,711,271
Supervision and Administration Fees⁽¹⁾		17,601,681			2,936,578			8,462,468			3,162,009
Custodian Fees⁽²⁾		40,574			2,583			935			3,256
Total Expenses		17,642,255			2,939,161			8,463,403			3,165,265
Net Investment Income (Loss)		1,654,290			1,589,942			(3,432,189	)		546,006
Net Realized Gain (Loss) on:
Investments⁽³⁾		106,051,639			6,759,345			38,791,484			120,741,535
Foreign Currency Transactions		(285,116	)		(8,133	)		(168,026	)		(106,633	)
Net Realized Gain on Investments and Foreign Currency Transactions		105,766,523			6,751,212			38,623,458			120,634,902
Net Change in Unrealized Appreciation (Depreciation) on:
Investments		194,851,707			80,375,341			(295,082	)		(126,762,072	)
Foreign Currency Translations		(143,868	)		(2,105	)		(5,385	)		(4,392	)
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		194,707,839			80,373,236			(300,467	)		(126,766,464	)
Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Transactions and Translations		300,474,362			87,124,448			38,322,991			(6,131,562	)
Net Increase (Decrease) in Net Assets Resulting from Operations	$	302,128,652		$	88,714,390		$	34,890,802		$	(5,585,556	)

(1)	The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.)
(2)	See Note 2 in the Notes to Financial Statements.
(3)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

175

	Statements of Operations
	For the year ended November 30, 2021

	Global X Autonomous & Electric Vehicles ETF			Global X Cloud Computing ETF			Global X Data Center REITs & Digital Infrastructure ETF			Global X Cybersecurity ETF
Investment Income:
Dividend Income	$	8,896,999		$	2,087,324		$	623,135		$	5,712,493
Interest Income		—			38			10			26
Security Lending Income		486,937			43,874			—			—
Less: Foreign Taxes Withheld		(541,298	)		—			(11,035	)		(43,429	)
Total Investment Income		8,842,638			2,131,236			612,110			5,669,090
Supervision and Administration Fees⁽¹⁾		5,934,718			9,700,881			214,004			3,237,647
Custodian Fees⁽²⁾		1,741			1,461			117			4,986
Total Expenses		5,936,459			9,702,342			214,121			3,242,633
Waiver of Supervision and Administration Fees		–			–			–			(130,273	)
Net Expenses		5,936,459			9,702,342			214,121			3,112,360
Net Investment Income (Loss)		2,906,179			(7,571,106	)		397,989			2,556,730
Net Realized Gain (Loss) on:
Investments⁽³⁾		80,721,096			368,572,611			2,332,463			54,988,622
Foreign Currency Transactions		(19,573	)		10,538			(2,988	)		(96,508	)
Net Realized Gain on Investments and Foreign Currency Transactions		80,701,523			368,583,149			2,329,475			54,892,114
Net Change in Unrealized Appreciation (Depreciation) on:
Investments		75,909,896			(231,440,120	)		4,979,801			(5,445,185	)
Foreign Currency Translations		(2,828	)		(10	)		(6	)		(527	)
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		75,907,068			(231,440,130	)		4,979,795			(5,445,712	)
Net Realized and Unrealized Gain on Investments and Foreign Currency Transactions and Translations		156,608,591			137,143,019			7,309,270			49,446,402
Net Increase in Net Assets Resulting from Operations	$	159,514,770		$	129,571,913		$	7,707,259		$	52,003,132

(1)	The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.)
(2)	See Note 2 in the Notes to Financial Statements.
(3)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

176

	Statements of Operations
	For the year ended November 30, 2021

	Global X Artificial Intelligence & Technology ETF			Global X Millennial Consumer ETF			Global X Education ETF			Global X Cannabis ETF
Investment Income:
Dividend Income	$	1,635,765		$	1,286,546		$	58,950		$	113,044
Interest Income		—			12			3			20
Security Lending Income		12,077			1,964			—			3,205,266
Less: Foreign Taxes Withheld		(109,789	)		—			(1,719	)		—
Total Investment Income		1,538,053			1,288,522			57,234			3,318,330
Supervision and Administration Fees⁽¹⁾		1,234,864			944,458			52,767			734,070
Custodian Fees⁽²⁾		380			459			459			4,872
Total Expenses		1,235,244			944,917			53,226			738,942
Net Investment Income		302,809			343,605			4,008			2,579,388
Net Realized Gain (Loss) on:
Investments⁽³⁾		40,301,277			33,121,119			(1,079,362	)		(70,536,986	)
Foreign Currency Transactions		(13,843	)		—			27			(11,622	)
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions		40,287,434			33,121,119			(1,079,335	)		(70,548,608	)
Net Change in Unrealized Depreciation on:
Investments		(8,748,842	)		(7,238,875	)		(5,996,290	)		(83,571,989	)
Foreign Currency Translations		(451	)		—			(205	)		—
Net Change in Unrealized Depreciation on Investments and Foreign Currency Translations		(8,749,293	)		(7,238,875	)		(5,996,495	)		(83,571,989	)
Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Transactions and Translations		31,538,141			25,882,244			(7,075,830	)		(154,120,597	)
Net Increase (Decrease) in Net Assets Resulting from Operations	$	31,840,950		$	26,225,849		$	(7,071,822	)	$	(151,541,209	)

(1)	The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.)
(2)	See Note 2 in the Notes to Financial Statements.
(3)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

177

	Statements of Operations
	For the year ended November 30, 2021

	Global X Genomics & Biotechnology ETF			Global X China Biotech Innovation ETF			Global X Telemedicine & Digital Health ETF			Global X Aging Population ETF
Investment Income:
Dividend Income	$	261,789		$	19,189		$	1,015,801		$	514,049
Interest Income		1			1			2			1
Security Lending Income		64,297			—			102,277			—
Less: Foreign Taxes Withheld		(2,370	)		(1,954	)		(23,281	)		(20,582	)
Total Investment Income		323,717			17,236			1,094,799			493,468
Supervision and Administration Fees⁽¹⁾		1,076,994			32,613			4,661,152			265,382
Custodian Fees⁽²⁾		319			138			1,149			386
Total Expenses		1,077,313			32,751			4,662,301			265,768
Net Investment Income (Loss)		(753,596	)		(15,515	)		(3,567,502	)		227,700
Net Realized Gain (Loss) on:
Investments⁽³⁾		7,773,280			(199,115	)		81,381,841			7,437,997
Foreign Currency Transactions		58			(1,744	)		125			2,689
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions		7,773,338			(200,859	)		81,381,966			7,440,686
Net Change in Unrealized Appreciation (Depreciation) on:
Investments		(41,829,286	)		90,211			(167,182,862	)		(8,325,374	)
Foreign Currency Translations		—			—			(997	)		(1,478	)
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(41,829,286	)		90,211			(167,183,859	)		(8,326,852	)
Net Realized and Unrealized Loss on Investments and Foreign Currency Transactions and Translations		(34,055,948	)		(110,648	)		(85,801,893	)		(886,166	)
Net Decrease in Net Assets Resulting from Operations	$	(34,809,544	)	$	(126,163	)	$	(89,369,395	)	$	(658,466	)

(1)	The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.)
(2)	See Note 2 in the Notes to Financial Statements.
(3)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

178

	Statements of Operations
	For the year ended November 30, 2021

	Global X Health & Wellness ETF			Global X CleanTech ETF			Global X U.S. Infrastructure Development ETF		Global X Thematic Growth ETF
Investment Income:
Dividend Income	$	430,900		$	939,091		$	34,398,529	$	—
Dividend Income, from Affiliated Investments		—			—			—		215,716
Interest Income		—			—			229		1
Security Lending Income		—			—			22,380		387,417
Less: Foreign Taxes Withheld		(31,994	)		(54,775	)		—		—
Total Investment Income		398,906			884,316			34,421,138		603,134
Supervision and Administration Fees⁽¹⁾		164,866			743,073			14,628,049		470,794
Custodian Fees⁽²⁾		86			1,095			2,156		241
Total Expenses		164,952			744,168			14,630,205		471,035
Reimbursement from Adviser ⁽³⁾		–			–			–		(594,387	)
Net Expenses		164,952			744,168			14,630,205		(123,352	)
Net Investment Income		233,954			140,148			19,790,933		726,486
Net Realized Gain (Loss) on:
Investments⁽⁴⁾		4,530,040			(14,019,852	)		104,623,377		—
Affiliated Investments		—			—			—		14,518,969
Foreign Currency Transactions		(1,830	)		(6,003	)		—		—
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions		4,528,210			(14,025,855	)		104,623,377		14,518,969
Net Change in Unrealized Appreciation (Depreciation) on:
Investments		(1,454,231	)		(21,085,838	)		401,755,516		—
Affiliated Investments		—			—			—		(18,755,820	)
Foreign Currency Translations		(684	)		(1,306	)		—		—
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(1,454,915	)		(21,087,144	)		401,755,516		(18,755,820	)
Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Transactions and Translations		3,073,295			(35,112,999	)		506,378,893		(4,236,851	)
Net Increase (Decrease) in Net Assets Resulting from Operations	$	3,307,249		$	(34,972,851	)	$	526,169,826	$	(3,510,365	)

(1)	The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.)
(2)	See Note 2 in the Notes to Financial Statements.
(3)	See Note 3 in the Notes to Financial Statements.
(4)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

179

	Statements of Operations
	For the period ended November 30, 2021

	Global X AgTech & Food Innovation ETF⁽¹⁾			Global X Blockchain ETF⁽¹⁾		Global X Clean Water ETF⁽²⁾
Investment Income:
Dividend Income	$	16,083		$	125	$	104,631
Interest Income		2			4		—
Security Lending Income		—			200,344		—
Less: Foreign Taxes Withheld		(826	)		—		(1,913	)
Total Investment Income		15,259			200,473		102,718
Supervision and Administration Fees⁽³⁾		7,029			98,543		17,468
Custodian Fees⁽⁴⁾		90			396		36
Total Expenses		7,119			98,939		17,504
Net Investment Income		8,140			101,534		85,214
Net Realized Gain (Loss) on:
Investments⁽⁵⁾		(62,812	)		5,701,525		27,843
Foreign Currency Transactions		(159	)		2,931		(1,426	)
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions		(62,971	)		5,704,456		26,417
Net Change in Unrealized Appreciation (Depreciation) on:
Investments		(915,084	)		3,549,749		121,184
Foreign Currency Translations		(125	)		—		(31	)
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(915,209	)		3,549,749		121,153
Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Transactions and Translations		(978,180	)		9,254,205		147,570
Net Increase (Decrease) in Net Assets Resulting from Operations	$	(970,040	)	$	9,355,739	$	232,784

(1)	The Fund commenced operations on July 12, 2021.
(2)	The Fund commenced operations on April 8, 2021.
(3)	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.)
(4)	See Note 2 in the Notes to Financial Statements.
(5)	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.

180

	Statements of Operations
	For the period ended November 30, 2021

	Global X Hydrogen ETF⁽¹⁾			Global X Solar ETF⁽²⁾			Global X Wind Energy ETF⁽²⁾
Investment Income:
Dividend Income	$	9,692		$	2,141		$	3,713
Interest Income		1			1			1
Less: Foreign Taxes Withheld		(557	)		(10	)		(807	)
Total Investment Income		9,136			2,132			2,907
Supervision and Administration Fees⁽³⁾		25,418			3,632			3,596
Custodian Fees⁽⁴⁾		378			128			—
Total Expenses		25,796			3,760			3,596
Net Investment Loss		(16,660	)		(1,628	)		(689	)
Net Realized Loss on:
Investments⁽⁵⁾		(123,418	)		(14,524	)		(53,201	)
Foreign Currency Transactions		(2,643	)		(665	)		(357	)
Net Realized Loss on Investments and Foreign Currency Transactions		(126,061	)		(15,189	)		(53,558	)
Net Change in Unrealized Appreciation (Depreciation) on:
Investments		(523,747	)		27,133			(199,231	)
Foreign Currency Translations		1,696			38			(3	)
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(522,051	)		27,171			(199,234	)
Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Transactions and Translations		(648,112	)		11,982			(252,792	)
Net Increase (Decrease) in Net Assets Resulting from Operations	$	(664,772	)	$	10,354		$	(253,481	)

(1)	The Fund commenced operations on July 12, 2021.
(2)	The Fund commenced operations on September 8, 2021.
(3)	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.)
(4)	See Note 2 in the Notes to Financial Statements.
(5)	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.

181

	Statements of Changes in Net Assets

	Global X Robotics & Artificial Intelligence ETF						Global X Internet of Things ETF
	Year Ended November 30, 2021			Year Ended November 30, 2020			Year Ended November 30, 2021			Year Ended November 30, 2020
Operations:
Net Investment Income	$	1,654,290		$	3,242,472		$	1,589,942		$	1,315,269
Net Realized Gain on Investments and Foreign Currency Transactions⁽¹⁾		105,766,523			7,613,107			6,751,212			16,117,099
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		194,707,839			626,860,201			80,373,236			46,240,265
Net Increase in Net Assets Resulting from Operations		302,128,652			637,715,780			88,714,390			63,672,633
Distributions		(1,369,174	)		(5,209,655	)		(1,320,266	)		(1,147,071	)
Return of Capital		(3,009,240	)		(891,490	)		—			—
Capital Share Transactions:
Issued		516,103,043			410,953,206			139,901,773			137,037,322
Redeemed		(268,539,477	)		(364,376,798	)		(6,512,771	)		(34,682,420	)
Increase in Net Assets from Capital Share Transactions		247,563,566			46,576,408			133,389,002			102,354,902
Total Increase in Net Assets		545,313,804			678,191,043			220,783,126			164,880,464
Net Assets:
Beginning of Year		2,158,174,587			1,479,983,544			296,507,952			131,627,488
End of Year	$	2,703,488,391		$	2,158,174,587		$	517,291,078		$	296,507,952
Share Transactions:
Issued		14,770,000			15,950,000			4,030,000			5,600,000
Redeemed		(8,080,000	)		(17,100,000	)		(200,000	)		(1,450,000	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions		6,690,000			(1,150,000	)		3,830,000			4,150,000

(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.

182

	Statements of Changes in Net Assets

	Global X FinTech ETF						Global X Video Games & Esports ETF
	Year Ended November 30, 2021			Year Ended November 30, 2020			Year Ended November 30, 2021			Year Ended November 30, 2020
Operations:
Net Investment Income (Loss)	$	(3,432,189	)	$	(1,840,919	)	$	546,006		$	67,313
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions⁽¹⁾		38,623,458			(13,205,493	)		120,634,902			14,607,273
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(300,467	)		238,992,156			(126,766,464	)		69,574,661
Net Increase (Decrease) in Net Assets Resulting from Operations		34,890,802			223,945,744			(5,585,556	)		84,249,247
Distributions		—			—			(4,336,763	)		(67,560	)
Capital Share Transactions:
Issued		457,538,483			278,249,866			502,883,686			452,438,823
Redeemed		(77,598,302	)		(41,173,195	)		(489,067,100	)		(56,852,547	)
Increase in Net Assets from Capital Share Transactions		379,940,181			237,076,671			13,816,586			395,586,276
Total Increase in Net Assets		414,830,983			461,022,415			3,894,267			479,767,963
Net Assets:
Beginning of Year		874,174,549			413,152,134			481,340,715			1,572,752
End of Year	$	1,289,005,532		$	874,174,549		$	485,234,982		$	481,340,715
Share Transactions:
Issued		9,580,000			8,300,000			15,330,000			19,250,000
Redeemed		(1,710,000	)		(1,400,000	)		(15,740,000	)		(2,500,000	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions		7,870,000			6,900,000			(410,000	)		16,750,000

(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.

183

	Statements of Changes in Net Assets

	Global X Autonomous & Electric Vehicles ETF						Global X Cloud Computing ETF
	Year Ended November 30, 2021			Year Ended November 30, 2020			Year Ended November 30, 2021			Year Ended November 30, 2020
Operations:
Net Investment Income (Loss)	$	2,906,179		$	207,504		$	(7,571,106	)	$	(4,118,942	)
Net Realized Gain on Investments and Foreign Currency Transactions⁽¹⁾		80,701,523			1,780,536			368,583,149			147,392,184
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		75,907,068			20,973,963			(231,440,130	)		242,627,223
Net Increase in Net Assets Resulting from Operations		159,514,770			22,962,003			129,571,913			385,900,465
Distributions		(2,137,703	)		(148,067	)		—			(216,000	)
Capital Share Transactions:
Issued		1,323,971,188			102,125,471			631,431,054			909,735,434
Redeemed		(293,724,764	)		(3,871,797	)		(848,948,000	)		(362,316,444	)
Increase (Decrease) in Net Assets from Capital Share Transactions		1,030,246,424			98,253,674			(217,516,946	)		547,418,990
Total Increase (Decrease) in Net Assets		1,187,623,491			121,067,610			(87,945,033	)		933,103,455
Net Assets:
Beginning of Year		135,922,537			14,854,927			1,405,489,005			472,385,550
End of Year	$	1,323,546,028		$	135,922,537		$	1,317,543,972		$	1,405,489,005
Share Transactions:
Issued		48,040,000			5,450,000			21,430,000			42,050,000
Redeemed		(10,770,000	)		(250,000	)		(29,400,000	)		(17,200,000	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions		37,270,000			5,200,000			(7,970,000	)		24,850,000

(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.

184

	Statements of Changes in Net Assets

	Global X Data Center REITs & Digital Infrastructure ETF						Global X Cybersecurity ETF
	Year Ended November 30, 2021			Period Ended November 30, 2020⁽¹⁾			Year Ended November 30, 2021			Year Ended November 30, 2020
Operations:
Net Investment Income	$	397,989		$	506		$	2,556,730		$	86,100
Net Realized Gain on Investments and Foreign Currency Transactions⁽²⁾		2,329,475			162			54,892,114			1,476,776
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		4,979,795			(8,833	)		(5,445,712	)		4,518,525
Net Increase (Decrease) in Net Assets Resulting from Operations		7,707,259			(8,165	)		52,003,132			6,081,401
Distributions		(239,154	)		—			(165,949	)		(130,636	)
Capital Share Transactions:
Issued		76,496,797			3,743,722			1,727,556,856			42,185,801
Redeemed		(9,602,874	)		—			(693,937,307	)		(3,216,779	)
Increase in Net Assets from Capital Share Transactions		66,893,923			3,743,722			1,033,619,549			38,969,022
Total Increase in Net Assets		74,362,028			3,735,557			1,085,456,732			44,919,787
Net Assets:
Beginning of Year/Period		3,735,557			—			46,633,552			1,713,765
End of Year/Period	$	78,097,585		$	3,735,557		$	1,132,090,284		$	46,633,552
Share Transactions:
Issued		4,690,000			250,000			58,280,000			2,100,000
Redeemed		(560,000	)		—			(24,670,000	)		(150,000	)
Net Increase in Shares Outstanding from Share Transactions		4,130,000			250,000			33,610,000			1,950,000

(1)	The Fund commenced operations on October 27, 2020.
(2)	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.

185

	Statements of Changes in Net Assets

	Global X Artificial Intelligence & Technology ETF						Global X Millennial Consumer ETF
	Year Ended November 30, 2021			Year Ended November 30, 2020			Year Ended November 30, 2021			Year Ended November 30, 2020
Operations:
Net Investment Income	$	302,809		$	494,532		$	343,605		$	157,088
Net Realized Gain on Investments and Foreign Currency Transactions⁽¹⁾		40,287,434			5,048,075			33,121,119			1,634,770
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(8,749,293	)		20,629,782			(7,238,875	)		26,411,623
Net Increase in Net Assets Resulting from Operations		31,840,950			26,172,389			26,225,849			28,203,481
Distributions		(496,492	)		(293,815	)		(197,478	)		(326,460	)
Capital Share Transactions:
Issued		156,875,013			65,644,332			155,153,247			26,317,605
Redeemed		(122,053,513	)		(15,598,992	)		(68,616,926	)		(15,066,868	)
Increase in Net Assets from Capital Share Transactions		34,821,500			50,045,340			86,536,321			11,250,737
Total Increase in Net Assets		66,165,958			75,923,914			112,564,692			39,127,758
Net Assets:
Beginning of Year		120,168,509			44,244,595			114,510,674			75,382,916
End of Year	$	186,334,467		$	120,168,509		$	227,075,366		$	114,510,674
Share Transactions:
Issued		5,430,000			2,900,000			3,710,000			900,000
Redeemed		(4,180,000	)		(800,000	)		(1,640,000	)		(600,000	)
Net Increase in Shares Outstanding from Share Transactions		1,250,000			2,100,000			2,070,000			300,000

(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.

186

	Statements of Changes in Net Assets

	Global X Education ETF						Global X Cannabis ETF
	Year Ended November 30, 2021			Period Ended November 30, 2020⁽¹⁾			Year Ended November 30, 2021			Year Ended November 30, 2020
Operations:
Net Investment Income (Loss)	$	4,008		$	(4,394	)	$	2,579,388		$	893,403
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions⁽²⁾		(1,079,335	)		67,416			(70,548,608	)		(3,805,246	)
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(5,996,495	)		459,932			(83,571,989	)		6,618,255
Net Increase (Decrease) in Net Assets Resulting from Operations		(7,071,822	)		522,954			(151,541,209	)		3,706,412
Distributions		(4,036	)		—			(1,884,853	)		(501,916	)
Return of Capital		(6,036	)		—			—			—
Capital Share Transactions:
Issued		9,647,103			7,879,257			275,820,914			28,360,906
Redeemed		(2,933,247	)		(1,546,466	)		(53,005,874	)		—
Increase in Net Assets from Capital Share Transactions		6,713,856			6,332,791			222,815,040			28,360,906
Total Increase (Decrease) in Net Assets		(368,038	)		6,855,745			69,388,978			31,565,402
Net Assets:
Beginning of Year/Period		6,855,745			—			36,159,865			4,594,463
End of Year/Period	$	6,487,707		$	6,855,745		$	105,548,843		$	36,159,865
Share Transactions:
Issued		520,000			500,000			14,560,000			2,700,000
Redeemed		(240,000	)		(100,000	)		(2,950,000	)		—
Net Increase in Shares Outstanding from Share Transactions		280,000			400,000			11,610,000			2,700,000

(1)	The Fund commenced operations on July 10, 2020.
(2)	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.

187

	Statements of Changes in Net Assets

	Global X Genomics & Biotechnology ETF						Global X China Biotech Innovation ETF
	Year Ended November 30, 2021			Year Ended November 30, 2020			Year Ended November 30, 2021			Period Ended November 30, 2020⁽¹⁾
Operations:
Net Investment Loss	$	(753,596	)	$	(154,881	)	$	(15,515	)	$	(2,388	)
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions⁽²⁾		7,773,338			5,206,530			(200,859	)		(5,680	)
Net Change in Unrealized Appreciation (Depreciation) on Investments		(41,829,286	)		12,154,278			90,211			(57,553	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(34,809,544	)		17,205,927			(126,163	)		(65,621	)
Distributions		(157,150	)		—			—			—
Capital Share Transactions:
Issued		244,145,634			57,860,443			3,521,172			2,297,749
Redeemed		(35,557,651	)		(11,849,645	)		(1,318,521	)		—
Increase in Net Assets from Capital Share Transactions		208,587,983			46,010,798			2,202,651			2,297,749
Total Increase in Net Assets		173,621,289			63,216,725			2,076,488			2,232,128
Net Assets:
Beginning of Year/Period		81,950,807			18,734,082			2,232,128			—
End of Year/Period	$	255,572,096		$	81,950,807		$	4,308,616		$	2,232,128
Share Transactions:
Issued		10,100,000			3,350,000			200,000			150,000
Redeemed		(1,600,000	)		(650,000	)		(80,000	)		—
Net Increase in Shares Outstanding from Share Transactions		8,500,000			2,700,000			120,000			150,000

(1)	The Fund commenced operations on September 22, 2020.
(2)	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.

188

	Statements of Changes in Net Assets

	Global X Telemedicine & Digital Health ETF						Global X Aging Population ETF
	Year Ended November 30, 2021			Period Ended November 30, 2020⁽¹⁾			Year Ended November 30, 2021			Year Ended November 30, 2020
Operations:
Net Investment Income (Loss)	$	(3,567,502	)	$	197,233		$	227,700		$	130,386
Net Realized Gain on Investments and Foreign Currency Transactions⁽²⁾		81,381,966			4,212,161			7,440,686			1,121,071
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(167,183,859	)		54,952,002			(8,326,852	)		3,221,996
Net Increase (Decrease) in Net Assets Resulting from Operations		(89,369,395	)		59,361,396			(658,466	)		4,473,453
Distributions		(193,332	)		—			(168,728	)		(207,290	)
Capital Share Transactions:
Issued		416,278,429			450,607,051			37,949,132			18,592,284
Redeemed		(341,814,594	)		(19,293,640	)		(20,272,786	)		(3,499,173	)
Increase in Net Assets from Capital Share Transactions		74,463,835			431,313,411			17,676,346			15,093,111
Total Increase (Decrease) in Net Assets		(15,098,892	)		490,674,807			16,849,152			19,359,274
Net Assets:
Beginning of Year/Period		490,674,807			—			42,906,831			23,547,557
End of Year/Period	$	475,575,915		$	490,674,807		$	59,755,983		$	42,906,831
Share Transactions:
Issued		21,160,000			27,750,000			1,290,000			750,000
Redeemed		(18,670,000	)		(1,100,000	)		(710,000	)		(150,000	)
Net Increase in Shares Outstanding from Share Transactions		2,490,000			26,650,000			580,000			600,000

(1)	The Fund commenced operations on July 29, 2020.
(2)	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.

189

	Statements of Changes in Net Assets

	Global X Health & Wellness ETF						Global X CleanTech ETF
	Year Ended November 30, 2021			Year Ended November 30, 2020			Year Ended November 30, 2021			Period Ended November 30, 2020⁽¹⁾
Operations:
Net Investment Income	$	233,954		$	94,216		$	140,148		$	10,479
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions⁽²⁾		4,528,210			2,165,439			(14,025,855	)		(2,573	)
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(1,454,915	)		47,301			(21,087,144	)		2,447,006
Net Increase (Decrease) in Net Assets Resulting from Operations		3,307,249			2,306,956			(34,972,851	)		2,454,912
Distributions		(137,684	)		(95,104	)		(85,349	)		—
Capital Share Transactions:
Issued		34,773,877			14,278,870			206,263,932			26,068,557
Redeemed		(18,348,025	)		(16,109,523	)		(24,270,816	)		—
Increase (Decrease) in Net Assets from Capital Share Transactions		16,425,852			(1,830,653	)		181,993,116			26,068,557
Total Increase in Net Assets		19,595,417			381,199			146,934,916			28,523,469
Net Assets:
Beginning of Year/Period		20,495,913			20,114,714			28,523,469			—
End of Year/Period	$	40,091,330		$	20,495,913		$	175,458,385		$	28,523,469
Share Transactions:
Issued		1,220,000			700,000			8,430,000			1,500,000
Redeemed		(640,000	)		(800,000	)		(1,340,000	)		—
Net Increase (Decrease) in Shares Outstanding from Share Transactions		580,000			(100,000	)		7,090,000			1,500,000

(1)	The Fund commenced operations on October 27, 2020.
(2)	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.

190

	Statements of Changes in Net Assets

	Global X U.S. Infrastructure Development ETF						Global X Thematic Growth ETF
	Year Ended November 30, 2021			Year Ended November 30, 2020			Year Ended November 30, 2021			Year Ended November 30, 2020
Operations:
Net Investment Income	$	19,790,933		$	2,019,654		$	726,486		$	33,093
Net Realized Gain (Loss) on Investments ⁽¹⁾		104,623,377			(8,543,451	)		14,518,969			2,753,474
Net Change in Unrealized Appreciation (Depreciation) on Investments		401,755,516			62,924,477			(18,755,820	)		4,786,079
Net Increase (Decrease) in Net Assets Resulting from Operations		526,169,826			56,400,680			(3,510,365	)		7,572,646
Distributions		(7,771,784	)		(1,004,004	)		(391,721	)		(16,854	)
Capital Share Transactions:
Issued		4,363,784,152			481,978,464			152,944,973			47,069,175
Redeemed		(349,320,945	)		(66,804,212	)		(75,042,293	)		(21,193,938	)
Increase in Net Assets from Capital Share Transactions		4,014,463,207			415,174,252			77,902,680			25,875,237
Total Increase in Net Assets		4,532,861,249			470,570,928			74,000,594			33,431,029
Net Assets:
Beginning of Year		653,635,485			183,064,557			36,080,846			2,649,817
End of Year	$	5,186,496,734		$	653,635,485		$	110,081,440		$	36,080,846
Share Transactions:
Issued		172,070,000			27,150,000			2,910,000			1,350,000
Redeemed		(13,600,000	)		(5,350,000	)		(1,450,000	)		(600,000	)
Net Increase in Shares Outstanding from Share Transactions		158,470,000			21,800,000			1,460,000			750,000

(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.

191

	Statements of Changes in Net Assets

	Global X Agtech & Food Innovation ETF			Global X Blockchain ETF
	Period Ended November 30, 2021⁽¹⁾			Period Ended November 30, 2021⁽¹⁾
Operations:
Net Investment Income	$	8,140		$	101,534
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions⁽²⁾		(62,971	)		5,704,456
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(915,209	)		3,549,749
Net Increase (Decrease) in Net Assets Resulting from Operations		(970,040	)		9,355,739
Capital Share Transactions:
Issued		6,503,520			129,901,496
Redeemed		—			(11,537,023	)
Increase in Net Assets from Capital Share Transactions		6,503,520			118,364,473
Total Increase in Net Assets		5,533,480			127,720,212
Net Assets:
Beginning of Period		—			—
End of Period	$	5,533,480		$	127,720,212
Share Transactions:
Issued		280,000			4,250,000
Redeemed		—			(300,000	)
Net Increase in Shares Outstanding from Share Transactions		280,000			3,950,000

(1)	The Fund commenced operations on July 12, 2021.
(2)	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.

192

	Statements of Changes in Net Assets

	Global X Clean Water ETF			Global X Hydrogen ETF
	Period Ended November 30, 2021⁽¹⁾			Period Ended November 30, 2021⁽²⁾
Operations:
Net Investment Income (Loss)	$	85,214		$	(16,660	)
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions⁽³⁾		26,417			(126,061	)
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		121,153			(522,051	)
Net Increase (Decrease) in Net Assets Resulting from Operations		232,784			(664,772	)
Distributions		(8,160	)		—
Capital Share Transactions:
Issued		8,645,836			33,092,140
Redeemed		(171,021	)		—
Increase in Net Assets from Capital Share Transactions		8,474,815			33,092,140
Total Increase in Net Assets		8,699,439			32,427,368
Net Assets:
Beginning of Period		—			—
End of Period	$	8,699,439		$	32,427,368
Share Transactions:
Issued		530,000			1,330,000
Redeemed		(10,000	)		—
Net Increase in Shares Outstanding from Share Transactions		520,000			1,330,000

(1)	The Fund commenced operations on April 8, 2021.
(2)	The Fund commenced operations on July 12, 2021.
(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.

193

	Statements of Changes in Net Assets

	Global X Solar ETF			Global X Wind Energy ETF
	Period Ended November 30, 2021⁽¹⁾			Period Ended November 30, 2021⁽¹⁾
Operations:
Net Investment Loss	$	(1,628	)	$	(689	)
Net Realized Loss on Investments and Foreign Currency Transactions⁽²⁾		(15,189	)		(53,558	)
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		27,171			(199,234	)
Net Increase (Decrease) in Net Assets Resulting from Operations		10,354			(253,481	)
Capital Share Transactions:
Issued		8,984,259			4,767,391
Increase in Net Assets from Capital Share Transactions		8,984,259			4,767,391
Total Increase in Net Assets		8,994,613			4,513,910
Net Assets:
Beginning of Period		—			—
End of Period	$	8,994,613		$	4,513,910
Share Transactions:
Issued		350,000			190,000
Net Increase in Shares Outstanding from Share Transactions		350,000			190,000

(1)	The Fund commenced operations on September 8, 2021.
(2)	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.

194

Page intentionally left blank.

195

	Financial Highlights

Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

	Net Asset Value, Beginning of Period ($)		Net Investment Income (Loss) ($)*			Net Realized and Unrealized Gain (Loss) on Investments ($)			Total from Operations ($)			Distribution from Net Investment Income ($)			Distribution from Capital Gains ($)			Return of Capital ($)
Global X Robotics & Artificial Intelligence ETF
2021		31.78		0.02			4.50			4.52			(0.02	)		—			(0.04	)
2020		21.43		0.05			10.39			10.44			(0.08	)		—			(0.01	)
2019		19.70		0.19			1.93			2.12			(0.39	)		—			—
2018		23.96		0.19			(4.45	)		(4.26	)		—	^***		—	^***		—
2017		14.87		0.01			9.09			9.10			(0.01	)		—			—
Global X Internet of Things ETF
2021		29.95		0.13			7.72			7.85			(0.12	)		—			—
2020		22.89		0.17			7.08			7.25			(0.19	)		—			—
2019		18.04		0.20			4.93			5.13			(0.28	)		—			—
2018		20.12		0.17			(2.03	)		(1.86	)		(0.11	)		(0.11	)		—
2017		15.52		0.16			4.49			4.65			(0.05	)		—			—
Global X FinTech ETF
2021		42.75		(0.13	)		2.90			2.77			—			—			—
2020		30.49		(0.11	)		12.37			12.26			—			—			—
2019		24.55		(0.08	)		6.06			5.98			—			—			(0.04	)
2018		21.79		(0.08	)		2.86			2.78			—			(0.02	)		—
2017		14.91		(0.03	)		6.91			6.88			—			—			—
Global X Video Games & Esports ETF
2021		28.57		0.04			1.14			1.18			(0.23	)		—	^***		—
2020		15.73		0.02			12.86			12.88			(0.04	)		—			—
2019⁽¹⁾		14.99		—			0.74			0.74			—			—			—

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

196

	Financial Highlights

Total from Distributions ($)			Net Asset Value, End of Period ($)		Total Return (%)**			Net Assets End of Period ($)(000)		Ratio of Expenses to Average Net Assets (%)			Ratio of Net Investment Income (Loss) to Average Net Assets (%)			Portfolio Turnover (%)††

	(0.06	)		36.24		14.23			2,703,488		0.68			0.06			22.66
	(0.09	)		31.78		48.90			2,158,175		0.68			0.21			22.27
	(0.39	)		21.43		11.16			1,479,984		0.68			0.98			10.97
	—	^***		19.70		(17.77	)		1,726,274		0.70			0.83			28.50
	(0.01	)		23.96		61.22			1,412,589		0.69			0.05			15.29

	(0.12	)		37.68		26.24			517,291		0.68			0.37			9.25
	(0.19	)		29.95		31.88			296,508		0.68			0.71			14.28
	(0.28	)		22.89		29.01			131,627		0.68			1.04			11.71
	(0.22	)		18.04		(9.33	)		82,983		0.69			0.88			16.69
	(0.05	)		20.12		30.04			85,521		0.70			0.85			24.90

	—			45.52		6.48			1,289,006		0.68			(0.28	)		29.60
	—			42.75		40.21			874,175		0.68			(0.33	)		15.75
	(0.04	)		30.49		24.42			413,152		0.68			(0.29	)		16.40
	(0.02	)		24.55		12.79			327,734		0.68			(0.29	)		20.58
	—			21.79		46.14			50,106		0.68			(0.13	)		11.65

	(0.23	)		29.52		4.09			485,235		0.50			0.09			23.45
	(0.04	)		28.57		82.04			481,341		0.50			0.04			12.02
	—			15.73		4.94			1,573		0.50	†		(0.45	)†		0.27

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
***	Amount is less than $0.005.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
(1)	The Fund commenced operations on October 25, 2019.

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

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

197

	Financial Highlights

Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

	Net Asset Value, Beginning of Period ($)		Net Investment Income (Loss) ($)*			Net Realized and Unrealized Gain (Loss) on Investments ($)			Total from Operations ($)			Distribution from Net Investment Income ($)			Distribution from Capital Gains ($)			Return of Capital ($)
Global X Autonomous & Electric Vehicles ETF
2021		21.75		0.09			8.65			8.74			(0.08	)		—			—
2020		14.15		0.11			7.61			7.72			(0.12	)		—			—
2019		13.26		0.22			1.11			1.33			(0.44	)		—			—
2018⁽¹⁾		15.00		0.11			(1.85	)		(1.74	)		—			—			—
Global X Cloud Computing ETF
2021		25.84		(0.15	)		2.69			2.54			—			—			—
2020		15.99		(0.11	)		9.97			9.86			—			(0.01	)		—
2019⁽²⁾		15.06		(0.04	)		0.97			0.93			—			—			—
Global X Data Center REITs & Digital Infrastructure ETF
2021		14.94		0.16			2.84			3.00			(0.11	)		—			—
2020⁽³⁾		14.97		—			(0.03	)		(0.03	)		—			—			—
Global X Cybersecurity ETF
2021		22.75		0.12			8.90			9.02			(0.01	)		(0.01	)		—
2020		17.14		0.09			5.67			5.76			(0.13	)		(0.02	)		—
2019⁽⁴⁾		15.27		—			1.87			1.87			—			—			—

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

198

	Financial Highlights

Total from Distributions ($)			Net Asset Value, End of Period ($)		Total Return (%)**			Net Assets End of Period ($)(000)		Ratio of Expenses to Average Net Assets (%)			Ratio of Net Investment Income (Loss) to Average Net Assets (%)			Portfolio Turnover (%)††

	(0.08	)		30.41		40.22			1,323,546		0.68			0.33			18.17
	(0.12	)		21.75		54.98			135,923		0.68			0.67			13.76
	(0.44	)		14.15		10.61			14,855		0.68			1.67			31.26
	—			13.26		(11.60	)		15,248		0.68	†		1.21	†		23.57

	—			28.38		9.83			1,317,544		0.68			(0.53	)		23.77
	(0.01	)		25.84		61.68			1,405,489		0.68			(0.53	)		23.03
	—			15.99		6.18			472,386		0.68	†		(0.44	)†		12.52

	(0.11	)		17.83		20.17			78,098		0.50			0.93			15.80
	—			14.94		(0.20	)		3,736		0.50	†		0.26	†		—

	(0.02	)		31.75		39.68			1,132,090	0.50		^		0.41			26.34
	(0.15	)		22.75		33.78			46,634	0.50		^		0.43			21.29
	—			17.14		12.25			1,714	0.50		^{^}†		(0.16	)†		3.57

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
^	Effective April 1, 2021, the Fund’s management fees were permanently lowered to 0.50%. Prior to April 1,2021, the ratio of Expenses to Average Net Assets included the effect of a waiver. If these offsets wereexcluded, the ratio would have been 0.52% for the year ended November 30, 2021 and 0.60% for the yearsended November 30, 2020 and November 30, 2019.
(1)	The Fund commenced operations on April 13, 2018.
(2)	The Fund commenced operations on April 12, 2019.
(3)	The Fund commenced operations on October 27, 2020.
(4)	The Fund commenced operations on October 25, 2019.

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

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

199

	Financial Highlights

Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

	Net Asset Value, Beginning of Period ($)		Net Investment Income (Loss) ($)*			Net Realized and Unrealized Gain (Loss) on Investments ($)			Total from Operations ($)			Distribution from Net Investment Income ($)			Distribution from Capital Gains ($)			Return of Capital ($)
Global X Artificial Intelligence & Technology ETF
2021		25.84		0.05			5.78			5.83			(0.09	)		—			—
2020		17.35		0.17			8.44			8.61			(0.12	)		—			—
2019		14.24		0.10			3.13			3.23			(0.12	)		—			—
2018⁽¹⁾		15.00		0.05			(0.81	)		(0.76	)		—			—			—
Global X Millennial Consumer ETF
2021		35.23		0.08			7.43			7.51			(0.06	)		—			—
2020		25.55		0.05			9.74			9.79			(0.10	)		(0.01	)		—
2019		21.57		0.10			3.99			4.09			(0.10	)		(0.01	)		—
2018		19.11		0.09			2.54			2.63			(0.05	)		(0.12	)		—
2017		15.58		0.07			3.51			3.58			(0.05	)		—			—
Global X Education ETF
2021		17.14		0.01			(7.60	)		(7.59	)		—	^***		—			(0.01	)
2020⁽²⁾		15.20		(0.01	)		1.95			1.94			—			—			—
Global X Cannabis ETF
2021		12.05		0.22			(4.81	)		(4.59	)		(0.24	)		—			—
2020		15.31		0.81			(3.46	)		(2.65	)		(0.61	)		—			—
2019⁽³⁾		24.41		0.22			(9.32	)		(9.10	)		—			—			—

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

200

	Financial Highlights

Total from Distributions ($)			Net Asset Value, End of Period ($)		Total Return (%)**			Net Assets End of Period ($)(000)		Ratio of Expenses to Average Net Assets (%)			Ratio of Net Investment Income (Loss) to Average Net Assets (%)			Portfolio Turnover (%)††

	(0.09	)		31.58		22.60			186,334		0.68			0.17			26.37
	(0.12	)		25.84		49.84			120,169		0.68			0.79			19.45
	(0.12	)		17.35		22.87			44,245		0.68			0.61			16.34
	—			14.24		(5.07	)		42,001		0.68	†		0.54	†		7.93

	(0.06	)		42.68		21.33			227,075		0.50			0.18			11.59
	(0.11	)		35.23		38.47			114,511	0.50		^		0.19			7.11
	(0.11	)		25.55		19.07			75,383	0.50		^		0.42			10.44
	(0.17	)		21.57		13.87			31,279	0.50		^		0.40			10.94
	(0.05	)		19.11		23.05			11,467	0.54		^		0.40			20.97

	(0.01	)		9.54		(44.30	)		6,488		0.50			0.04			35.89
	—			17.14		12.76			6,856		0.51	†		(0.23	)†		10.62

	(0.24	)		7.22		(38.79	)		105,549		0.50			1.76			113.26
	(0.61	)		12.05		(17.03	)		36,160		0.51			8.11			59.79
	—			15.31		(37.28	)		4,594		0.50	†		6.19	†		11.40

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
***	Amount rounds to less than $0.005.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
^	Effective April 1, 2020, the Fund’s fees were permanently lowered to 0.50%. Prior to April 1, 2020, the ratio of Expenses to Average Net Assets included the effect of a waiver. If these offsets were excluded, the ratio would have been 0.56%, 0.68%, 0.68% and 0.68%, for the years ended November 30, 2020, 2019, 2018 and 2017, respectively.
(1)	The Fund commenced operations on May 11, 2018.
(2)	The Fund commenced operations on July 10, 2020.
(3)	The Fund commenced operations on September 17, 2019.

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

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

201

	Financial Highlights

Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

	Net Asset Value, Beginning of Period ($)		Net Investment Income (Loss) ($)*			Net Realized and Unrealized Gain (Loss) on Investments ($)			Total from Operations ($)			Distribution from Net Investment Income ($)			Distribution from Capital Gains ($)			Return of Capital ($)
Global X Genomics & Biotechnology ETF
2021		21.01		(0.08	)		(0.29	)		(0.37	)		—			(0.03	)		—
2020		15.61		(0.07	)		5.47			5.40			—			—			—
2019⁽¹⁾		15.28		(0.05	)		0.38			0.33			—			—			—
Global X China Biotech Innovation ETF
2021		14.88		(0.05	)		1.13			1.08			—			—			—
2020⁽²⁾		15.09		(0.02	)		(0.19	)		(0.21	)		—			—			—
Global X Telemedicine & Digital Health ETF
2021		18.41		(0.10	)		(1.98	)		(2.08	)		(0.01	)		—			—
2020⁽³⁾		15.23		0.01			3.17			3.18			—			—			—
Global X Aging Population ETF
2021		26.82		0.13			0.55			0.68			(0.09	)		—			—
2020		23.55		0.10			3.35			3.45			(0.13	)		(0.05	)		—
2019		20.67		0.13			2.99			3.12			(0.18	)		(0.06	)		—
2018		19.60		0.13			1.14			1.27			(0.09	)		(0.11	)		—
2017		15.17		0.08			4.51			4.59			(0.09	)		(0.07	)		—

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

202

	Financial Highlights

Total from Distributions ($)			Net Asset Value, End of Period ($)		Total Return (%)**			Net Assets End of Period ($)(000)		Ratio of Expenses to Average Net Assets (%)			Ratio of Net Investment Income (Loss) to Average Net Assets (%)			Portfolio Turnover (%)††

	(0.03	)		20.61		(1.77	)		255,572		0.50			(0.35	)		29.25
	—			21.01		34.59			81,951		0.56	‡		(0.40	)		29.76
	—			15.61		2.16			18,734		0.68	†		(0.59	)†		23.12

	—			15.96		7.26			4,309		0.65			(0.31	)		50.08
	—			14.88		(1.39	)		2,232		0.67	†		(0.65	)†		10.48

	(0.01	)		16.32		(11.32	)		475,576		0.68			(0.52	)		42.39
	—			18.41		20.88			490,675		0.68	†		0.18	†		9.67

	(0.09	)		27.41		2.51			59,756		0.50			0.43			19.57
	(0.18	)		26.82		14.79			42,907	0.50		^		0.43			9.10
	(0.24	)		23.55		15.38			23,548	0.50		^		0.62			14.18
	(0.20	)		20.67		6.55			15,503	0.50		^		0.63			14.39
	(0.16	)		19.60		30.58			7,841	0.52		^		0.44			10.20

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
‡	Effective June 15 2020, the Fund’s fees were permanently lowered to 0.50%.
^	Effective April 1, 2020, the Fund’s fees were permanently lowered to 0.50%. Prior to April 1, 2020, the ratio of Expenses to Average Net Assets included the effect of a waiver. If these offsets were excluded, the ratio would have been 0.55%, 0.68%, 0.68% and 0.68%, for the years ended November 30, 2020, 2019, 2018 and 2017, respectively.
(1)	The Fund commenced operations on April 5, 2019.
(2)	The Fund commenced operations on September 22, 2020.
(3)	The Fund commenced operations on July 29, 2020.

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

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

203

	Financial Highlights

Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

	Net Asset Value, Beginning of Period ($)		Net Investment Income ($)*		Net Realized and Unrealized Gain (Loss) on Investments ($)			Total from Operations ($)			Distribution from Net Investment Income ($)			Distribution from Capital Gains ($)			Return of Capital ($)
Global X Health & Wellness ETF
2021		24.11		0.20		3.87			4.07			(0.14	)		—			—
2020		21.17		0.10		2.92			3.02			(0.08	)		—			—
2019		18.59		0.14		2.60			2.74			(0.16	)		—			—
2018		16.75		0.14		2.18			2.32			(0.15	)		(0.33	)		—
2017		14.72		0.17		1.94			2.11			(0.08	)		—			—
Global X CleanTech ETF
2021		19.02		0.02		1.40			1.42			(0.01	)		—			—
2020⁽¹⁾		15.07		0.02		3.93			3.95			—			—			—
Global X U.S. Infrastructure Development ETF
2021		20.24		0.17		6.87			7.04			(0.09	)		—	^***		—
2020		17.43		0.16		2.74			2.90			(0.09	)		—			—
2019		15.57		0.13		1.90			2.03			(0.17	)		—			—
2018		16.16		0.14		(0.68	)		(0.54	)		(0.05	)		—			—
2017⁽²⁾		14.98		0.10		1.08			1.18			—			—			—

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

204

	Financial Highlights

Total from Distributions ($)			Net Asset Value, End of Period ($)		Total Return (%)**			Net Assets End of Period ($)(000)		Ratio of Expenses to Average Net Assets (%)			Ratio of Net Investment Income to Average Net Assets (%)			Portfolio Turnover (%)††

	(0.14	)		28.04		16.90			40,091		0.50			0.71			14.90
	(0.08	)		24.11		14.34			20,496	0.50		^		0.48			20.54
	(0.16	)		21.17		14.89			20,115	0.50		^		0.74			18.05
	(0.48	)		18.59		14.16			10,222	0.50		^		0.77			20.93
	(0.08	)		16.75		14.38			2,512	0.54		^		1.08			16.73

	(0.01	)		20.43		7.48			175,458		0.50			0.09			35.53
	—			19.02		26.21			28,523		0.50	†		1.18	†		—

	(0.09	)		27.19		34.90			5,186,497		0.47			0.64			10.07
	(0.09	)		20.24		16.77			653,635		0.47			0.96			9.08
	(0.17	)		17.43		13.28			183,065	0.47		^^		0.81			9.18
	(0.05	)		15.57		(3.36	)		140,914	0.47		^^		0.77			6.76
	—			16.16		7.88			20,203	0.47		^^†		0.91	†		—

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
***	Amount rounds to less than $0.005.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
^	Effective April 1, 2020, the Fund’s fees were permanently lowered to 0.50%. Prior to April 1, 2020, the ratio of Expenses to Average Net Assets included the effect of a waiver. If these offsets were excluded, the ratio would have been 0.57%, 0.68%, 0.68% and 0.68%, for the years ended November 30, 2020, 2019, 2018 and 2017, respectively.
^^	Effective April 1, 2019, the Fund’s fees were permanently lowered to 0.47%. Prior to April 1, 2019, the ratio of Expenses to Average Net Assets included the effect of a waiver. If these offsets were excluded, the ratio would have been 0.50%, 0.58%, and 0.58%, for the years ended November 30, 2019, 2018 and 2017, respectively.
(1)	The Fund commenced operations on October 27, 2020.
(2)	The Fund commenced operations on March 6, 2017.

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

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

205

	Financial Highlights

Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

	Net Asset Value, Beginning of Period ($)		Net Investment Income (Loss) ($)*			Net Realized and Unrealized Gain (Loss) on Investments ($)			Total from Operations ($)			Distribution from Net Investment Income ($)			Distribution from Capital Gains ($)		Return of Capital ($)
Global X Thematic Growth ETF
2021		42.45		0.39			5.10			5.49			(0.29	)		—		—
2020		26.50		0.10			15.96			16.06			(0.11	)		—		—
2019⁽¹⁾		25.23		—			1.27			1.27			—			—		—
Global X AgTech & Food Innovation ETF
2021⁽²⁾		25.34		0.05			(5.63	)		(5.58	)		—			—		—
Global X Blockchain ETF
2021⁽²⁾		25.01		0.06			7.26			7.32			—			—		—
Global X Clean Water ETF
2021⁽³⁾		15.04		0.26			1.47			1.73			(0.04	)		—		—
Global X Hydrogen ETF
2021⁽²⁾		25.04		(0.03	)		(0.63	)		(0.66	)		—			—		—
Global X Solar ETF
2021⁽⁴⁾		24.19		(0.01	)		1.52			1.51			—			—		—
Global X Wind Energy ETF
2021⁽⁴⁾		24.82		(0.01	)		(1.05	)		(1.06	)		—			—		—

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

206

	Financial Highlights

Total from Distributions ($)			Net Asset Value, End of Period ($)		Total Return (%)**			Net Assets End of Period ($)(000)		Ratio of Expenses to Average Net Assets (%)			Ratio of Net Investment Income (Loss) to Average Net Assets (%)			Portfolio Turnover (%)††

	(0.29	)		47.65		12.95			110,081		(0.13	)‡		0.77			32.16
	(0.11	)		42.45		60.81			36,081		(0.12	)‡		0.29			103.23
	—			26.50		5.03			2,650		(0.15	)†‡		0.15	†		—

	—			19.76		(22.02	)		5,533		0.51	†		0.58	†		32.72

	—			32.33		29.27			127,720		0.50	†		0.52	†		19.49

	(0.04	)		16.73		11.52			8,699		0.50	†		2.44	†		4.84

	—			24.38		(2.64	)		32,427		0.51	†		(0.33	)†		40.38

	—			25.70		6.24			8,995		0.50	†		(0.22	)†		9.85

	—			23.76		(4.27	)		4,514		0.50	†		(0.10	)†		23.01

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
‡	The ratio of Expenses to Average Net Assets includes the effect of a reimbursement of acquired fund fees (See Note 3 in Notes to Financial Statements.) If these offsets and acquired fund fees were excluded, the ratio would have been 0.50%.
(1)	The Fund commenced operations on October 25, 2019.
(2)	The Fund commenced operations on July 12, 2021.
(3)	The Fund commenced operations on April 8, 2021.
(4)	The Fund commenced operations on September 8, 2021.

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

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

207

	Notes to Financial Statements
	November 30, 2021

1. ORGANIZATION

The Global X Funds (the “Trust”) is a Delaware statutory trust formed on March 6, 2008. The Trust is registered under the Investment Company Act of 1940, as amended, (the “1940 Act”) as an open-end management investment company. As of November 30, 2021, the Trust had one hundred and two portfolios, eighty-nine of which were operational. The financial statements herein and the related notes pertain to the Global X Robotics & Artificial Intelligence ETF, Global X Internet of Things ETF, Global X FinTech ETF, Global X Video Games & Esports ETF, Global X Autonomous & Electric Vehicles ETF, Global X Cloud Computing ETF, Global X Data Center REITs & Digital Infrastructure ETF, Global X Cybersecurity ETF, Global X Artificial Intelligence & Technology ETF, Global X Millennial Consumer ETF, Global X Education ETF, Global X Cannabis ETF, Global X Genomics & Biotechnology ETF, Global X China Biotech Innovation ETF, Global X Telemedicine & Digital Health ETF, Global X Aging Population ETF, Global X Health & Wellness ETF, Global X CleanTech ETF, Global X U.S. Infrastructure Development ETF, Global X Thematic Growth ETF, Global X AgTech & Food Innovation ETF, Global X Blockchain ETF, Global X Clean Water ETF, Global X Hydrogen ETF, Global X Solar ETF and Global X Wind Energy ETF (each a “Fund” and collectively, the “Funds”). Each Fund, other than the Global X Millennial Consumer ETF, Global X Aging Population ETF, Global X Health & Wellness ETF and Global X U.S. Infrastructure Development ETF, has elected non-diversified status under the 1940 Act.

Effective April 1, 2021, the Global X Longevity Thematic ETF changed its name to Global X Aging Population ETF, the Global X Millennials Thematic ETF changed its name to Global X Millennial Consumer ETF, and the Global X Health & Wellness Thematic ETF changed its name to Global X Health & Wellness ETF.

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of the significant accounting policies followed by the Funds:

USE OF ESTIMATES — The Funds are investment companies that apply the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board. The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could materially differ from those estimates.

RETURN OF CAPITAL ESTIMATES – Distributions received by the Funds from underlying Master Limited Partnership (“MLP”) and real estate investment trust (“REIT”) investments generally are comprised of income and return of capital. The Funds record investment income and return of capital based on estimates made at the time such distributions are received. Such estimates are based on historical information available from the MLPs, REITs and other industry sources. These estimates may

208

	Notes to Financial Statements (continued)
	November 30, 2021

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

subsequently be revised based on information received from the MLPs and REITs after their tax reporting periods are concluded.

SECURITY VALUATION — Securities listed on a securities exchange, market or automated quotation system for which quotations are readily available (except for securities traded on the NASDAQ Stock Market (“NASDAQ”), including securities traded over the counter, are valued at the last quoted sale price on the primary exchange or market (foreign or domestic) on which they are traded (or at approximately 4:00 pm Eastern time if a security’s primary exchange is normally open at that time), or, if there is no such reported sale, at the most recent mean between the quoted bid and asked prices, which approximates fair value (absent both bid and asked prices on such exchange, the bid price may be used).

For securities traded on NASDAQ, the NASDAQ official closing price will be used. If available, debt securities are priced based upon valuations provided by independent, third-party pricing agents. Such values generally reflect the last reported sales price if the security is actively traded. The third-party pricing agents may also value debt securities at an evaluated bid price by employing methodologies that utilize actual market transactions, broker-supplied valuations, or other methodologies designed to identify the market value for such securities. Debt obligations with remaining maturities of sixty days or less may be valued at their amortized cost, which approximates market value. The prices for foreign securities are reported in local currency and converted to U.S. dollars using currency exchange rates as of the reporting date. The exchange rates used by the Trust for valuation are captured as of the New York or London close each day. Prices for most securities held by the Funds are provided daily by recognized independent pricing agents. If a security price cannot be obtained from an independent, third-party pricing agent, the Funds seek to obtain a bid price from at least one independent broker.

Securities for which market prices are not “readily available” are valued in accordance with fair value procedures (the “Fair Value Procedures”) established by the Board of Trustees (the “Board”) of the Trust. The Funds’ Fair Value Procedures are implemented through a Fair Value Committee (the “Committee”) designated by the Board. Some of the more common reasons that may necessitate that a security be valued using the Fair Value Procedures include: the security’s trading has been halted or suspended; the security has been de-listed from its primary trading exchange; the security’s primary trading market is temporarily closed at a time when, under normal conditions it would be open; the security has not been traded for an extended period of time; the security’s primary pricing source is not able or willing to provide a price; or trading of the security is subject to local government-imposed restrictions. In addition, each Fund may fair value a security if an event that may materially affect the value of a Fund’s security that traded outside of the United States (a “Significant Event”) has occurred between the time of the security’s last close and the time that the Fund calculates its net asset value (“NAV”). A Significant Event may relate to a single issuer or to an entire market sector. Events that may be Significant Events include: government actions, natural disasters, armed conflict, acts of

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	November 30, 2021

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

terrorism and significant market fluctuations. If Global X Management Company LLC, the Funds’ investment adviser (the “Adviser”), becomes aware of a Significant Event that has occurred with respect to a security or group of securities after the closing of the exchange or market on which the security or securities principally trade, but before the time at which the Funds calculate their NAVs, it may request that a Committee meeting be called. When a security is valued in accordance with the Fair Value Procedures, the Committee will determine the value after taking into consideration all relevant information reasonably available to the Committee. As of November 30, 2021, Global X Cannabis ETF had one fair valued security totaling $1,582,637 in value. There were no other securities priced using the Fair Value Procedures.

In accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP, the Funds disclose the fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The objective of a fair value measurement is to determine the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Accordingly, the fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

Level 1 – Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Funds have the ability to access at the measurement date;

Level 2 – Other significant observable inputs (including quoted prices in non-active markets, quoted prices for similar investments, fair value of investments for which the Funds have the ability to fully redeem tranches at NAV as of the measurement date or within the near term, and short-term investments valued at amortized cost); and

Level 3 – Significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments and fair value of investments for which the Funds do not have the ability to fully redeem tranches at NAV as of the measurement date or within the near term).

Investments are classified within the level of the lowest significant input considered in determining fair value. Investments classified within Level 3 whose fair value measurement considers several inputs may include Level 1 or Level 2 inputs as components of the overall fair value measurement.

For the year ended November 30, 2021, there have been no significant changes to the Funds’ fair valuation methodologies.

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	Notes to Financial Statements (continued)
	November 30, 2021

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

The following table summarizes the quantitative inputs and assumptions used for items categorized as material Level 3 investments as of November 30, 2021. The disclosures below also include qualitative information on the sensitivity of the fair value measurements to changes in the significant unobservable inputs.

Global X Cannabis ETF

Assets	Fair Value at 11/30/21	Valuation Technique(s)	Unobservable Input	Discount Percentage
Common Stock	$1,582,637	Discount from the Last Traded Price	Last Traded Price Comparability Adjustment %	5.0%

The unobservable inputs used to determine fair value of Level 3 assets may have similar or diverging impacts on valuation. Significant increases and decreases in these inputs in isolation and interrelationships between those inputs could result in significantly higher or lower fair value measurement.

DUE TO/FROM BROKERS — Due to/from brokers includes cash and collateral balances with the Funds’ clearing brokers or counterparties at November 30, 2021. The Funds continuously monitor the credit standing of each broker or counterparty with whom they conduct business. In the event a broker or counterparty is unable to fulfill its obligations, the Funds would be subject to counterparty credit risk.

REPURCHASE AGREEMENTS – Securities pledged as collateral for repurchase agreements by BNP Paribas are held by Brown Brothers Harriman & Co. (“BBH”), the Funds’ custodian (“Custodian”), and are designated as being held on each Fund’s behalf by the Custodian under a book-entry system. Each Fund monitors the adequacy of the collateral on a daily basis and can require the seller to provide additional collateral in the event the market value of the securities pledged falls below the carrying value of the repurchase agreement, including accrued interest.

It is the Funds’ policy to only enter into repurchase agreements with banks and other financial institutions which are deemed by the Adviser to be creditworthy. The Funds bear the risk of loss in the event that the counterparty to a repurchase agreement defaults on its obligations, and the Funds are prevented from exercising their rights to dispose of the underlying securities received as collateral and the risk of a possible decline in the value of the underlying securities during the period. For financial statement purposes, the Funds record the securities lending collateral (included in repurchase agreements, at value or restricted cash) as an asset and the obligation to return securities lending collateral as a liability on the Statements of Assets and Liabilities. Repurchase

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	November 30, 2021

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

agreements are entered into by the Funds under Master Repurchase Agreements (“MRA”) which permit the Funds, under certain circumstances, including an event of default (such as bankruptcy or insolvency), to offset payables and/or receivables under an MRA with collateral held and/or posted to the counterparty and create one single net payment due to or from the Funds.

As of November 30, 2021, the open repurchase agreements by counterparty which are subject to an MRA on a net payment basis are as follows:

	Repurchase Agreements*		Fair Value of Non-cash Collateral Received⁽¹⁾		Cash Collateral Received		Net Amount⁽²⁾
Global X Robotics & Artificial Intelligence ETF
BNP Paribas	$	87,378,306	$	87,378,306	$	−	$	−
Global X Internet of Things ETF
BNP Paribas	$	2,472,384	$	2,472,384	$	−	$	−
Global X FinTech ETF
BNP Paribas	$	25,500,080	$	25,500,080	$	−	$	−
Global X Video Games & Esports ETF
BNP Paribas	$	8,331,841	$	8,331,841	$	−	$	−
Global X Autonomous & Electric Vehicles ETF
BNP Paribas	$	10,697,536	$	10,697,536	$	−	$	−
Global X Cloud Computing ETF
BNP Paribas	$	7,447,695	$	7,447,695	$	−	$	−
Global X Artificial Intelligence & Technology ETF
BNP Paribas	$	573,597	$	573,597	$	−	$	−
Global X Millennial Consumer ETF
BNP Paribas	$	998,652	$	998,652	$	−	$	−
Global X Cannabis ETF
BNP Paribas	$	18,277,407	$	18,277,407	$	−	$	−
Global X Genomics & Biotechnology ETF
BNP Paribas	$	3,581,571	$	3,581,571	$	−	$	−
Global X Telemedicine & Digital Health ETF
BNP Paribas	$	3,697,847	$	3,697,847	$	−	$	−
Global X U.S. Infrastructure Development ETF
BNP Paribas	$	17,308,564	$	17,308,564	$	−	$	−
Global X Thematic Growth ETF
BNP Paribas	$	5,983,346	$	5,983,346	$	−	$	−
Global X Blockchain ETF
BNP Paribas	$	10,277,572	$	10,277,572	$	−	$	−

*	Repurchase agreements with an overnight and continuous maturity.
⁽¹⁾	Excess collateral received is not presented in the table above. Please refer to the Schedules of Investments for the market value of the collateral received for each Fund.
⁽²⁾	Net Amount represents the net amount receivable due from the counterparty in the event of default.

FEDERAL INCOME TAXES — It is each Fund’s intention to qualify, or continue to qualify, as a regulated investment company for Federal income tax purposes by complying with the appropriate provisions of Subchapter M of the Internal Revenue Code of 1986, as amended. Accordingly, no provisions for Federal income taxes have been made in the financial statements except as described below.

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	November 30, 2021

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

The Funds evaluate tax positions taken or expected to be taken in the course of preparing the Funds’ tax returns to determine whether it is “more-likely-than-not” (i.e., greater than 50%) that each tax position will be sustained upon examination by a taxing authority based on the technical merits of the position. Tax positions not deemed to meet the more-likely-than-not threshold are recorded as a tax benefit or expense in the current year. The Funds did not record any tax positions in the current period. Management’s conclusions regarding tax positions may be subject to review and adjustment at a later date based on factors including, but not limited to, examination by tax authorities (i.e., the last three tax year ends, as applicable), and on-going analysis of and changes to tax laws, and regulations and interpretations thereof.

If a Fund has foreign tax filings that have not been made, the tax years that remain subject to examination may date back to the inception of the Fund.

As of and during the year ended November 30, 2021, the Funds did not have a liability for any unrecognized tax benefits. The Funds recognize interest and penalties, if any, related to unrecognized tax benefits as in income tax expense on the Statements of Operations. During the reporting period, the Funds did not incur any interest or penalties. The Funds are also not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next 12 months.

SECURITY TRANSACTIONS AND INVESTMENT INCOME — Security transactions are accounted for on the trade date for financial reporting purposes. Costs used in determining realized gains and losses on the sale of investment securities are based on specific identification. Dividend income is recorded on the ex-dividend date. Interest income is recognized on the accrual basis from the settlement date.

DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS — The Funds distribute their net investment income on a pro rata basis. Any net realized capital gains are distributed annually. All distributions are recorded on the ex-dividend date.

INVESTMENTS IN REITs – With respect to the Funds, dividend income is recorded based on the income included in distributions received from REIT investments using published REIT reclassifications, including some management estimates when actual amounts are not available. Distributions received in excess of these estimated amounts are recorded as a reduction of the cost of investments or reclassified to capital gains. The actual amounts of income, return of capital, and capital gains are only determined by each REIT after its fiscal year end, and may differ from the estimated amounts.

CASH OVERDRAFT CHARGES – Per the terms of an agreement with BBH, if a Fund has a cash overdraft on a given day, it will be assessed an overdraft charge of LIBOR plus 2.00%. Cash overdraft charges are included in custodian fees on the Statements of Operations.

213

	Notes to Financial Statements (continued)
	November 30, 2021

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

FOREIGN CURRENCY TRANSACTIONS AND TRANSLATION — The books and records of the Funds are maintained in U.S. dollars. Investment securities and other assets and liabilities denominated in a foreign currency are translated into U.S. dollars on the date of valuation. Purchases and sales of investment securities, income and expenses are translated into U.S. dollars at the relevant rates of exchange prevailing on the respective dates of such transactions. The Funds do not isolate that portion of realized or unrealized gains and losses resulting from changes in the foreign exchange rate from fluctuations arising from changes in the market prices of the securities. These gains and losses are included in net realized and unrealized gains and losses on investments on the Statements of Operations. Net realized and unrealized gains and losses on foreign currency transactions and translations represent net foreign exchange gains or losses from foreign currency spot contracts, disposition of foreign currencies, currency gains or losses realized between trade and settlement dates on securities transactions and the difference between the amount of the investment income and foreign withholding taxes recorded on the Funds’ books and the U.S. dollar equivalent amounts actually received or paid.

CREATION UNITS — The Funds issue and redeem their shares (“Shares”) on a continuous basis at NAV and only in large blocks of 10,000 Shares, referred to as “Creation Units”. Purchasers of Creation Units (“Authorized Participants”) at NAV must pay a standard creation transaction fee per transaction. The fee is a single charge and will be the same regardless of the number of Creation Units purchased by an Authorized Participant on the same day.

An Authorized Participant who holds Creation Units and wishes to redeem at NAV would also pay a standard redemption fee per transaction to BBH, on the date of such redemption, regardless of the number of Creation Units redeemed that day.

If a Creation Unit is purchased or redeemed for cash, an additional variable fee may be charged. The following table discloses Creation Unit breakdown:

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	Notes to Financial Statements (continued)
	November 30, 2021

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

	Creation Unit Shares		Creation Fee		Value at November 30, 2021		Redemption Fee
Global X Robotics & Artificial Intelligence ETF		10,000	$	500	$	362,400	$	500
Global X Internet of Things ETF		10,000		500		376,800		500
Global X FinTech ETF		10,000		500		455,200		500
Global X Video Games & Esports ETF		10,000		500		295,200		500
Global X Autonomous & Electric Vehicles ETF		10,000		500		304,100		500
Global X Cloud Computing ETF		10,000		500		283,800		500
Global X Data Center REITs & Digital Infrastructure ETF		10,000		500		178,300		500
Global X Cybersecurity ETF		10,000		500		317,500		500
Global X Artificial Intelligence & Technology ETF		10,000		500		315,800		500
Global X Millennial Consumer ETF		10,000		500		426,800		500
Global X Education ETF		10,000		500		95,400		500
Global X Cannabis ETF		10,000		500		72,200		500
Global X Genomics & Biotechnology ETF		10,000		500		206,100		500
Global X China Biotech Innovation ETF		10,000		500		159,600		500
Global X Telemedicine & Digital Health ETF		10,000		500		163,200		500
Global X Aging Population ETF		10,000		500		274,100		500
Global X Health & Wellness ETF		10,000		500		280,400		500
Global X CleanTech ETF		10,000		500		204,300		500
Global X U.S. Infrastructure Development ETF		10,000		500		271,900		500
Global X Thematic Growth ETF		10,000		500		476,500		500
Global X AgTech & Food Innovation ETF		10,000		500		197,600		500
Global X Blockchain ETF		10,000		500		323,300		500
Global X Clean Water ETF		10,000		500		167,300		500
Global X Hydrogen ETF		10,000		500		243,800		500
Global X Solar ETF		10,000		500		257,000		500
Global X Wind Energy ETF		10,000		500		237,600		500

3. RELATED PARTY TRANSACTIONS AND SERVICE PROVIDER TRANSACTIONS

On July 2, 2018, the Adviser consummated a transaction pursuant to which it became an indirect, wholly-owned subsidiary of Mirae Asset Global Investments Co., Ltd. (“Mirae”). In this manner, the Adviser is ultimately controlled by Mirae, which is a leading financial services company in Korea and is the headquarters for the Mirae Asset Global Investments Group.

215

	Notes to Financial Statements (continued)
	November 30, 2021

3. RELATED PARTY TRANSACTIONS AND SERVICE PROVIDER TRANSACTIONS (continued)

The Adviser serves as the investment adviser and the administrator for the Funds. Subject to the supervision of the Board, the Adviser is responsible for managing the investment activities of the Funds and the Funds’ business affairs and other administrative matters and provides, or causes to be furnished, all supervisory, administrative and other services reasonably necessary for the operation of the Funds, including certain distribution services (provided pursuant to a separate distribution services agreement), certain shareholder and distribution-related services (provided pursuant to a separate Rule 12b-1 Plan and related agreements) and investment advisory services (provided pursuant to a separate investment advisory agreement), under what is essentially an “all-in” fee structure. For the Adviser’s services to the Funds, under a supervision and administration agreement (the “Supervision and Administration Agreement”), each Fund pays a monthly fee to the Adviser at the annual rate below (stated as a percentage of the average daily net assets of the respective Fund). In addition, the Funds bear other expenses, directly and indirectly, that are not covered by the Supervision and Administration Agreement, which may vary and affect the total expense ratios of the Funds, such as taxes, brokerage fees, commissions, acquired fund fees and expenses, (except for Global X Thematic Growth ETF), and other transaction expenses, interest expenses, and extraordinary expenses (such as litigation and indemnification expenses).

The Supervision and Administration Agreement for the Global X Thematic Growth ETF provides that the Adviser also bears the costs for acquired fund fees and expenses generated by investments by the Global X Thematic Growth ETF in affiliated investment companies. For the year ended November 30, 2021, the Adviser paid acquired fund fees and expenses of $594,387.

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	Notes to Financial Statements (continued)
	November 30, 2021

3. RELATED PARTY TRANSACTIONS AND SERVICE PROVIDER TRANSACTIONS (continued)

The following table discloses the rate of supervision and administration fees paid by the Funds pursuant to the Supervision and Administration Agreement:

		Supervision and Administration Fee
Global X Robotics & Artificial Intelligence ETF		0.68%
Global X Internet of Things ETF		0.68%
Global X FinTech ETF		0.68%
Global X Video Games & Esports ETF		0.50%
Global X Autonomous & Electric Vehicles ETF		0.68%
Global X Cloud Computing ETF		0.68%
Global X Data Center REITs & Digital Infrastructure ETF		0.50%
Global X Cybersecurity ETF		0.50%
Global X Artificial Intelligence & Technology ETF		0.68%
Global X Millennial Consumer ETF		0.50%
Global X Education ETF		0.50%
Global X Cannabis ETF		0.50%
Global X Genomics & Biotechnology ETF		0.50%
Global X China Biotech Innovation ETF		0.65%
Global X Telemedicine & Digital Health ETF		0.68%
Global X Aging Population ETF		0.50%
Global X Health & Wellness ETF		0.50%
Global X CleanTech ETF		0.50%
Global X U.S. Infrastructure Development ETF		0.47%
Global X Thematic Growth ETF		0.50%
Global X AgTech & Food Innovation ETF		0.50%
Global X Blockchain ETF		0.50%
Global X Clean Water ETF		0.50%
Global X Hydrogen ETF		0.50%
Global X Solar ETF		0.50%
Global X Wind Energy ETF		0.50%

* Pursuant to expense limitation agreements, prior to April 1, 2020, the Adviser contractually agreed to waive or reimburse fees and/or limit annual fund expenses to the extent necessary to assure that the operating expenses of the Global X Millennial Consumer ETF, the Global X Aging Population ETF and the Global X Health & Wellness ETF (the “Funds”) (exclusive of taxes, brokerage fees, commissions, and other transaction expenses, interest, and extraordinary expenses (such as litigation and indemnification expenses)) would not exceed 0.50% of the Funds’ average daily net assets per

217

	Notes to Financial Statements (continued)
	November 30, 2021

3. RELATED PARTY TRANSACTIONS AND SERVICE PROVIDER TRANSACTIONS (continued)

year until April 1, 2020. Each Fund (at a later date) may reimburse the Adviser for the fees and expenses it waived or reimbursed and/or limited pursuant to the expense limitation agreement during any of the three fiscal years prior to April 1, 2020, provided that, among other things, any reimbursement made to the Adviser does not cause Total Annual Fund Operating Expenses to exceed the maximum permitted rate during the period in which it is paid and the Board has approved such reimbursement to the Adviser. Although the Board voted to permanently reduce each Fund’s management fees to 0.50% and end the expense limitation agreements as of April 1, 2020, waived or reimbursed fees prior to April 1, 2020 are still subject to recoupment. As of November 30, 2021, the amounts of waivers/reimbursements subject to recoupment for the Global X Millennial Consumer ETF, the Global X Aging Population ETF and the Global X Health & Wellness ETF, $18,918 expiring 2022, $9,461 expiring 2022 and $8,496 expiring 2022, respectively. As of November 30, 2021, there had been no recoupment of previously waived and reimbursed fees.

** Pursuant to an expense limitation agreement between the Global X U.S. Infrastructure Development ETF (the “Fund”) and the Adviser prior to April 1, 2019, the Adviser contractually agreed to reimburse or waive fees and/or limit annual fund expenses to the extent necessary to assure that the operating expenses of the Fund (exclusive of taxes, brokerage fees, commissions, and other transaction expenses, interest, and extraordinary expenses (such as litigation and indemnification expenses)) (“Total Annual Fund Operating Expenses”) would not exceed 0.47% of the Fund’s average daily net assets until April 1, 2019. Pursuant to the expense limitation agreement, the Fund (at a later date) may reimburse the Adviser for the fees it reimbursed or waived and/or limited pursuant to the expense limitation agreement during any of the prior three fiscal years, provided that, among other things, reimbursement to be made to the Adviser does not cause Total Annual Fund Operating Expenses of the Fund to exceed 0.47% during the year in which it is paid and the Board has approved such reimbursement to the Adviser. Although the Board voted to permanently reduce the Fund’s fees to 0.47% and end the expense limitation agreement as of April 1, 2019, prior waived or reimbursed fees are still subject to recoupment. As of November 30, 2021, the amount of waivers/reimbursements subject to recoupment for the Fund was $44,734 expiring in 2022. As of November 30, 2021, there had been no recoupment of previously waived and reimbursed fees.

*** Pursuant to an expense limitation agreement between the Global X Cybersecurity ETF (the “Fund”) and the Adviser prior to April 1, 2021, the Adviser contractually agreed to waive or reimburse fees and/or limit annual fund expenses to the extent necessary to assure that the operating expenses of the Fund (exclusive of taxes, brokerage fees, commissions, and other transaction expenses, interest, and extraordinary expenses (such as litigation and indemnification expenses)) would not exceed 0.50% of the Fund’s average daily net assets until April 1, 2021. The Board voted to permanently reduce the Fund’s fees to 0.50% and end the expense limitation agreement as of April 1, 2021.

SEI Investments Global Funds Services (“SEIGFS”) serves as sub-administrator to the Funds. As sub-administrator, SEIGFS provides the Funds with required general administrative services, including, without limitation: office space, equipment, and personnel; clerical and general back office services; bookkeeping, internal accounting and secretarial services; the calculation of NAV; and assistance with the preparation and filing of reports, registration statements, proxy statements and other materials required to be filed or furnished by the Funds under federal and state securities laws. As compensation for these services, SEIGFS receives certain out-of-pocket costs, transaction

218

	Notes to Financial Statements (continued)
	November 30, 2021

3. RELATED PARTY TRANSACTIONS AND SERVICE PROVIDER TRANSACTIONS (continued)

fees and asset-based fees which are accrued daily and paid monthly by the Adviser. SEI Investments Distribution Co. (“SIDCO”) serves as each Fund’s underwriter and distributor of Creation Units pursuant to a distribution agreement. SIDCO has no obligation to sell any specific quantity of Fund Shares. SIDCO bears the following costs and expenses relating to the distribution of Shares: (1) the costs of processing and maintaining records of creations of Creation Units; (2) all costs of maintaining the records required of a registered broker/dealer; (3) the expenses of maintaining its registration or qualification as a dealer or broker under Federal or state laws; (4) filing fees; and (5) all other expenses incurred in connection with the distribution services as contemplated in the distribution agreement. SIDCO receives no fee from the Funds for its distribution services under the distribution agreement; rather, the Adviser compensates SIDCO for certain expenses, out-of-pocket costs, and transaction fees.

BBH serves as custodian and transfer agent of the Funds’ assets. As custodian, BBH has agreed to (1) make receipts and disbursements of money on behalf of the Funds; (2) collect and receive all income and other payments and distributions on account of the Funds’ portfolio investments; (3) respond to correspondence from shareholders, security brokers and others relating to its duties; and (4) make periodic reports to the Funds concerning the Funds’ operations. BBH does not exercise any supervisory function over the purchase and sale of securities. As compensation for these services, BBH receives certain out-of-pocket costs, transaction fees and asset-based fees which are accrued daily and paid monthly by the Adviser from its fees. As transfer agent, BBH has agreed to (1) issue and redeem Shares of each Fund; (2) make dividend and other distributions to shareholders of each Fund; (3) respond to correspondence by shareholders and others relating to its duties; (4) maintain shareholder accounts; and (5) make periodic reports to the Funds. As compensation for these services, BBH receives certain out-of-pocket costs, transaction fees and asset-based fees which are accrued daily and paid monthly by the Adviser from its fees.

219

	Notes to Financial Statements (continued)
	November 30, 2021

4. INVESTMENT TRANSACTIONS

For the year ended November 30, 2021, the purchases and sales of investments in securities excluding in-kind transactions, long-term U.S. Government, and short-term securities, were:

	Purchases		Sales and Maturities
Global X Robotics & Artificial Intelligence ETF	$	577,561,026	$	581,170,802
Global X Internet of Things ETF		54,399,823		39,559,613
Global X FinTech ETF		361,631,636		363,710,556
Global X Video Games & Esports ETF		159,314,408		146,344,622
Global X Autonomous & Electric Vehicles ETF		235,467,507		158,666,070
Global X Cloud Computing ETF		334,682,774		340,967,340
Global X Data Center REITs & Digital Infrastructure ETF		13,547,823		6,867,770
Global X Cybersecurity ETF		180,025,300		166,440,151
Global X Artificial Intelligence & Technology ETF		59,743,482		47,819,269
Global X Millennial Consumer ETF		21,477,408		21,671,306
Global X Education ETF		4,313,329		3,648,444
Global X Cannabis ETF		156,778,362		157,232,457
Global X Genomics & Biotechnology ETF		64,682,190		61,848,078
Global X China Biotech Innovation ETF		4,501,217		2,462,844
Global X Telemedicine & Digital Health ETF		299,912,937		284,009,629
Global X Aging Population ETF		12,086,367		10,281,092
Global X Health & Wellness ETF		10,046,444		4,887,066
Global X CleanTech ETF		98,878,045		52,042,060
Global X U.S. Infrastructure Development ETF		321,188,722		308,652,729
Global X Thematic Growth ETF		29,587,248		29,300,142
Global X AgTech & Food Innovation ETF		1,338,028		1,277,467
Global X Blockchain ETF		11,287,421		11,326,413
Global X Clean Water ETF		1,306,433		282,042
Global X Hydrogen ETF		8,175,848		5,993,387
Global X Solar ETF		5,004,658		463,369
Global X Wind Energy ETF		2,748,079		798,230

220

	Notes to Financial Statements (continued)
	November 30, 2021

4. INVESTMENT TRANSACTIONS (continued)

For each of the years ended November 30, 2021, and November 30, 2020, in-kind transactions associated with creations and redemptions were:

2021	Purchases		Sales and Maturities		Realized Gain/(Loss)
Global X Robotics & Artificial Intelligence ETF	$	516,176,567	$	268,404,834	$	104,021,753
Global X Internet of Things ETF		124,298,078		5,853,786		2,702,825
Global X FinTech ETF		455,294,813		77,635,643		32,639,364
Global X Video Games & Esports ETF		438,401,077		441,702,887		122,014,036
Global X Autonomous & Electric Vehicles ETF		1,243,079,372		291,206,321		85,610,777
Global X Cloud Computing ETF		635,933,771		853,780,576		365,920,393
Global X Data Center REITs & Digital Infrastructure ETF		69,706,585		9,421,401		2,014,075
Global X Cybersecurity ETF		1,711,103,704		690,141,933		61,785,267
Global X Artificial Intelligence & Technology ETF		141,480,507		118,763,825		40,858,235
Global X Millennial Consumer ETF		155,261,180		68,410,599		33,089,756
Global X Education ETF		8,876,876		2,847,433		(337,863	)
Global X Cannabis ETF		275,557,718		51,606,966		24,761,396
Global X Genomics & Biotechnology ETF		240,138,908		35,229,260		13,974,372
Global X China Biotech Innovation ETF		630,424		485,396		145,716
Global X Telemedicine & Digital Health ETF		396,173,748		342,418,244		86,292,306
Global X Aging Population ETF		35,801,242		19,845,490		8,006,911
Global X Health & Wellness ETF		27,943,145		16,642,208		4,758,017
Global X CleanTech ETF		155,189,990		20,025,277		495,401
Global X Hydrogen ETF		30,579,365		–		–
Global X U.S. Infrastructure Development ETF		4,358,056,593		348,552,979		121,363,658
Global X Clean Water ETF		7,685,779		170,354		32,550
Global X AgTech & Food Innovation ETF		6,436,426		–		–
Global X Blockchain ETF		128,912,482		12,034,770		7,300,346
Global X Thematic Growth ETF		153,127,441		75,266,423		17,652,968
Global X Solar ETF		4,426,914		–		–
Global X Wind Energy ETF		2,801,043		–		–

221

	Notes to Financial Statements (continued)
	November 30, 2021

4. INVESTMENT TRANSACTIONS (continued)

2020	Purchases		Sales and Maturities		Realized Gain/(Loss)
Global X Robotics & Artificial Intelligence ETF	$	361,874,568	$	365,215,738	$	43,090,534
Global X Internet of Things ETF		124,223,802		34,531,153		18,792,933
Global X FinTech ETF		278,707,608		41,228,494		8,267,048
Global X Video Games & Esports ETF		404,900,530		51,302,801		14,900,863
Global X Autonomous & Electric Vehicles ETF		94,454,889		3,876,841		2,108,375
Global X Cloud Computing ETF		898,712,110		357,026,062		151,841,623
Global X Data Center REITs & Digital Infrastructure ETF		3,494,554		–		–
Global X Cybersecurity ETF		41,832,394		3,133,182		1,581,964
Global X Artificial Intelligence & Technology ETF		59,534,429		15,359,452		5,699,200
Global X Millennial Consumer ETF		26,325,170		15,069,551		2,463,389
Global X Education ETF		7,065,338		1,479,215		297,249
Global X Cannabis ETF		28,284,111		–		–
Global X Genomics & Biotechnology ETF		56,763,285		11,838,830		6,006,376
Global X China Biotech Innovation ETF		381,631		–		–
Global X Telemedicine & Digital Health ETF		423,596,806		19,341,416		7,163,396
Global X Aging Population ETF		17,727,057		3,427,727		1,538,247
Global X Health & Wellness ETF		12,677,296		14,689,729		2,443,155
Global X CleanTech ETF		19,036,658		–		–
Global X U.S. Infrastructure Development ETF		481,671,681		66,650,851		(9,164,993	)
Global X Thematic Growth ETF		44,864,162		21,983,043		2,875,470

For the year ended November 30, 2021, there were no purchases or sales of long-term U.S. Government securities by the Funds.

5. TAX INFORMATION

The amount and character of income and capital gain distributions to be paid, if any, are determined in accordance with Federal income tax regulations, which may differ from U.S. GAAP. As a result, net investment income (loss) and net realized gain (loss) on investment transactions for a reporting period may differ significantly from distributions during such period. These book/tax differences may be temporary or permanent. To the extent these differences are permanent in nature, they are charged or credited to undistributed net investment income (loss), accumulated net realized gain (loss) or paid-in capital, as appropriate, in the period that the differences arise.

The permanent differences primarily consist of foreign currency, REIT adjustments, reclassification of distributions, investments in publically traded partnerships, and sales of passive foreign investment companies. The permanent differences that are credited or charged to Paid In Capital and distributable earnings are primarily related to redemptions in kind and net operating losses and have been reclassified to/from the following accounts during the fiscal year ended November 30, 2021:

222

	Notes to Financial Statements (continued)
	November 30, 2021

5. TAX INFORMATION (continued)

Global X Funds	Paid-in Capital			Distributable Earnings (Loss)
Global X Robotics & Artificial Intelligence ETF	$	102,780,768		$	(102,780,768	)
Global X Internet of Things ETF		2,688,040			(2,688,040	)
Global X FinTech ETF		32,240,137			(32,240,137	)
Global X Video Games & Esports ETF		120,245,660			(120,245,660	)
Global X Autonomous & Electric Vehicles ETF		85,355,463			(85,355,463	)
Global X Cloud Computing ETF		360,733,174			(360,733,174	)
Global X Data Center REITs & Digital Infrastructure ETF		2,014,075			(2,014,075	)
Global X Cybersecurity ETF		61,036,134			(61,036,134	)
Global X Artificial Intelligence & Technology ETF		40,393,093			(40,393,093	)
Global X Millennial Consumer ETF		32,842,838			(32,842,838	)
Global X Education ETF		(341,660	)		341,660
Global X Cannabis ETF		23,396,142			(23,396,142	)
Global X Genomics & Biotechnology ETF		13,502,753			(13,502,753	)
Global X China Biotech Innovation ETF		141,106			(141,106	)
Global X Telemedicine & Digital Health ETF		85,461,971			(85,461,971	)
Global X Aging Population ETF		7,861,041			(7,861,041	)
Global X Health & Wellness ETF		4,753,744			(4,753,744	)
Global X CleanTech ETF		495,401			(495,401	)
Global X U.S. Infrastructure Development ETF		121,363,658			(121,363,658	)
Global X Thematic Growth ETF		17,653,604			(17,653,604	)
Global X Blockchain ETF		7,300,346			(7,300,346	)
Global X Clean Water ETF		32,550			(32,550	)

The tax character of dividends and distributions declared during the years or periods ended November 30, 2021 and November 30, 2020 were as follows:

Global X Funds	Ordinary Income		Long-Term Capital Gain		Return of Capital		Totals
Global X Robotics & Artificial Intelligence ETF
2021	$	1,369,174	$	–	$	3,009,240	$	4,378,414
2020		5,209,655		–		891,490		6,101,145
Global X Internet of Things ETF
2021	$	1,320,266	$	–	$	–	$	1,320,266
2020		1,147,071		–		–		1,147,071
Global X FinTech ETF
2021	$	–	$	–	$	–	$	–
2020		–		–		–		–
Global X Video Games & Esports ETF
2021	$	4,336,763	$	–	$	–	$	4,336,763
2020		67,560		–		–		67,560
Global X Autonomous & Electric Vehicles ETF
2021	$	2,137,703	$	–	$	–	$	2,137,703
2020		148,067		–		–		148,067

223

	Notes to Financial Statements (continued)
	November 30, 2021

5. TAX INFORMATION (continued)

Global X Funds	Ordinary Income		Long-Term Capital Gain		Return of Capital		Totals
Global X Cloud Computing ETF
2021	$	–	$	–	$	–	$	–
2020		158,369		57,631		–		216,000
Global X Data Center REITs & Digital Infrastructure ETF
2021	$	239,154	$	–	$	–	$	239,154
2020		–		–		–		–
Global X Cybersecurity ETF
2021	$	163,450	$	2,499	$	–	$	165,949
2020		130,636		–		–		130,636
Global X Artificial Intelligence & Technology ETF
2021	$	496,492	$	–	$	–	$	496,492
2020		293,815		–		–		293,815
Global X Millennial Consumer ETF
2021	$	197,478	$	–	$	–	$	197,478
2020		295,120		31,340		–		326,460
Global X Education ETF
2021	$	4,036	$	–	$	6,036	$	10,072
2020		–		–		–		–
Global X Cannabis ETF
2021	$	1,884,853	$	–	$	–	$	1,884,853
2020		501,916		–		–		501,916
Global X Genomics & Biotechnology ETF
2021	$	157,150	$	–	$	–	$	157,150
2020		–		–		–		–
Global X China Biotech Innovation ETF
2021	$	–	$	–	$	–	$	–
2020		–		–		–		–
Global X Telemedicine & Digital Health ETF
2021	$	193,332	$	–	$	–	$	193,332
2020		–		–		–		–
Global X Aging Population ETF
2021	$	168,728	$	–	$	–	$	168,728
2020		161,566		45,724		–		207,290
Global X Health & Wellness ETF
2021	$	137,684	$	–	$	–	$	137,684
2020		95,104		–		–		95,104
Global X CleanTech ETF
2021	$	85,349	$	–	$	–	$	85,349
2020		–		–		–		–
Global X U.S. Infrastructure Development ETF
2021	$	7,771,784	$	–	$	–	$	7,771,784
2020		1,004,004		–		–		1,004,004
Global X Thematic Growth ETF
2021	$	391,721	$	–	$	–	$	391,721
2020		16,854		–		–		16,854
Global X AgTech & Food Innovation ETF
2021	$	–	$	–	$	–	$	–

224

	Notes to Financial Statements (continued)
	November 30, 2021

5. TAX INFORMATION (continued)

Global X Funds	Ordinary Income		Long-Term Capital Gain		Return of Capital		Totals
Global X Blockchain ETF
2021	$	–	$	–	$	–	$	–
Global X Clean Water ETF
2021	$	8,160	$	–	$	–	$	8,160
Global X Hydrogen ETF
2021	$	–	$	–	$	–	$	–
Global X Solar ETF
2021	$	–	$	–	$	–	$	–
Global X Wind Energy ETF
2021	$	–	$	–	$	–	$	–

As of November 30, 2021, the components of tax basis distributable earnings (accumulated losses) were as follows:

	Global X Funds
	Global X Robotics & Artificial Intelligence ETF			Global X Internet of Things ETF			Global X FinTech ETF
Undistributed Ordinary Income	$	–		$	834,626		$	53,277,389
Undistributed Long-Term Capital Gain		–			628,188			–
Capital Loss Carryforwards		(150,741,956	)		–			(29,232,938	)
Unrealized Appreciation on Investments and Foreign Currency		629,295,293			140,161,697			223,274,194
Other Temporary Differences		1			(5	)		3
Total Distributable Earnings	$	478,553,338		$	141,624,506		$	247,318,648

	Global X Funds
	Global X Video Games & Esports ETF			Global X Autonomous & Electric Vehicles ETF			Global X Cloud Computing ETF
Undistributed Ordinary Income	$	1,985,253		$	1,083,211		$	–
Undistributed Long-Term Capital Gain		1,007,377			547,077			21,230,015
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency		(63,806,021	)		89,388,998			(2,774,947	)
Late Year Loss Deferral		–			–			(6,996,928	)
Other Temporary Differences		(1	)		(3	)		2
Total Distributable Earnings (Accumulated Losses)	$	(60,813,392	)	$	91,019,283		$	11,458,142

225

	Notes to Financial Statements (continued)
	November 30, 2021

5. TAX INFORMATION (continued)

	Global X Funds
	Global X Data Center REITs & Digital Infrastructure ETF		Global X Cybersecurity ETF			Global X Artificial Intelligence & Technology ETF
Undistributed Ordinary Income	$	541,477	$	6,460,101		$	76,997
Undistributed Long-Term Capital Gain		277		81,575			–
Post October Losses		–		(378,665	)		–
Capital Loss Carryforwards		–		–			(79,609	)
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency		4,904,111		(10,805,777	)		14,164,157
Other Temporary Differences		–		2			(2	)
Total Distributable Earnings (Accumulated Losses)	$	5,445,865	$	(4,642,764	)	$	14,161,543

	Global X Funds
	Global X Millennial Consumer ETF			Global X Education ETF			Global X Cannabis ETF
Undistributed Ordinary Income	$	265,511		$	–		$	1,140,709
Capital Loss Carryforwards		(466,313	)		(896,391	)		(66,990,231	)
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency		20,439,830			(5,612,102	)		(108,927,806	)
Other Temporary Differences		(1	)		–			(2	)
Total Distributable Earnings (Accumulated Losses)	$	20,239,027		$	(6,508,493	)	$	(174,777,330	)

	Global X Funds
	Global X Genomics & Biotechnology ETF			Global X China Biotech Innovation ETF			Global X Telemedicine & Digital Health ETF
Undistributed Ordinary Income	$	20,335		$	–		$	–
Capital Loss Carryforwards		(4,935,526	)		(342,730	)		(5,333,192	)
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency		(30,476,601	)		24,336			(114,166,327	)
Late Year Loss Deferral		–			(14,496	)		(3,327,178	)
Other Temporary Differences		1			–			(1	)
Total Accumulated Losses	$	(35,391,791	)	$	(332,890	)	$	(122,826,698	)

226

	Notes to Financial Statements (continued)
	November 30, 2021

5. TAX INFORMATION (continued)

	Global X Funds
	Global X Aging Population ETF			Global X Health & Wellness ETF			Global X CleanTech ETF
Undistributed Ordinary Income	$	148,495		$	188,616		$	399,782
Capital Loss Carryforwards		(607,603	)		(207,413	)		(10,334,015	)
Unrealized Depreciation on Investments and Foreign Currency		(1,956,466	)		(492,694	)		(23,164,452	)
Other Temporary Differences		–			–			(4	)
Total Accumulated Losses	$	(2,415,574	)	$	(511,491	)	$	(33,098,689	)

	Global X Funds
	Global X U.S. Infrastructure Development ETF		Global X Thematic Growth ETF			Global X AgTech & Food Innovation ETF
Undistributed Ordinary Income	$	15,555,496	$	351,357		$	36,941
Capital Loss Carryforwards		–		(602,290	)		–
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency		449,921,063		(16,497,616	)		(1,006,982	)
Other Temporary Differences		2		(2	)		1
Total Distributable Earnings (Accumulated Losses)	$	465,476,561	$	(16,748,551	)	$	(970,040	)

	Global X Funds
	Global X Blockchain ETF			Global X Clean Water ETF		Global X Hydrogen ETF
Undistributed Ordinary Income	$	4,557,761		$	76,275	$	15,747
Capital Loss Carryforwards		(1,816,728	)		–		–
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency		(685,639	)		115,799		(680,519	)
Other Temporary Differences		(1	)		–		–
Total Distributable Earnings (Accumulated Losses)	$	2,055,393		$	192,074	$	(664,772	)

	Global X Funds
	Global X Solar ETF		Global X Wind Energy ETF
Undistributed Ordinary Income	$	2,117	$	–
Capital Loss Carryforwards		–		(1,716	)
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency		8,237		(250,717	)
Late Year Loss Deferral		–		(1,046	)
Other Temporary Differences		–		(2	)
Total Distributable Earnings (Accumulated Losses)	$	10,354	$	(253,481	)

227

	Notes to Financial Statements (continued)
	November 30, 2021

5. TAX INFORMATION (continued)

Qualified late year ordinary (including currency and specified gain/loss items) and Post-October capital losses represent losses realized from January 1, 2021 through November 30, 2021 and November 1, 2021 through November 30, 2021, respectively, that in accordance with federal income tax regulations, the Funds have elected to defer and treat as having arisen in the following fiscal year.

For taxable years beginning after December 22, 2010, a Registered Investment Company within the meaning of the 1940 Act (“RIC”) is permitted to carry forward net capital losses to offset capital gains realized in later years, and the losses carried forward retain their original character as either long-term or short-term losses. Losses carried forward under these provisions are as follows:

Global X Funds	Short-Term Loss		Long-Term Loss		Total
Global X Robotics & Artificial Intelligence ETF	$	84,566,247	$	66,175,709	$	150,741,956
Global X FinTech ETF		9,879,322		19,353,616		29,232,938
Global X Artificial Intelligence & Technology ETF		79,609		−		79,609
Global X Millennial Consumer ETF		466,313		−		466,313
Global X Education ETF		892,023		4,368		896,391
Global X Cannabis ETF		66,990,231		−		66,990,231
Global X Genomics & Biotechnology ETF		4,935,526		−		4,935,526
Global X China Biotech Innovation ETF		342,730		−		342,730
Global X Telemedicine & Digital Health ETF		5,333,192		−		5,333,192
Global X Aging Population ETF		395,424		212,179		607,603
Global X Health & Wellness ETF		32,918		174,495		207,413
Global X CleanTech ETF		10,334,015		−		10,334,015
Global X Thematic Growth ETF		602,290		−		602,290
Global X Blockchain ETF		1,816,728		−		1,816,728
Global X Wind Energy ETF		1,716		−		1,716

During the year ended November 30, 2021, the following Funds utilized capital loss carryforwards to offset capital gains amounting to:

Global X Funds	Short-Term Loss		Long-Term Loss		Total
Global X Robotics & Artificial Intelligence ETF	$	3,842,429	$	−	$	3,842,429
Global X Internet of Things ETF		2,400,581		1,093,750		3,494,331
Global X FinTech ETF		1,103,918		2,017,792		3,121,710
Global X Autonomous & Electric Vehicles ETF		624,629		418,854		1,043,483
Global X Cloud Computing ETF		1,239,928		−		1,239,928
Global X Artificial Intelligence & Technology ETF		381,637		157,197		538,834
Global X Millennial Consumer ETF		381,063		−		381,063
Global X Cannabis ETF		−		146,699		146,699
Global X Health & Wellness ETF		142,079		−		142,079

228

	Notes to Financial Statements (continued)
	November 30, 2021

5. TAX INFORMATION (continued)

The Federal tax cost and aggregated gross unrealized appreciation and depreciation on investments held by the Funds at November 30, 2021, were as follows:

Global X Funds	Federal Tax Cost		Aggregated Gross Unrealized Appreciation		Aggregated Gross Unrealized Depreciation			Net Unrealized Appreciation (Depreciation)
Global X Robotics & Artificial Intelligence ETF	$	2,230,989,267	$	870,564,599	$	(241,269,306	)	$	629,295,293
Global X Internet of Things ETF		380,743,176		151,063,809		(10,902,112	)		140,161,697
Global X FinTech ETF		1,111,678,745		393,749,883		(170,475,689	)		223,274,194
Global X Video Games & Esports ETF		563,867,214		65,906,809		(129,712,830	)		(63,806,021	)
Global X Autonomous & Electric Vehicles ETF		1,251,574,301		175,932,769		(86,543,771	)		89,388,998
Global X Cloud Computing ETF		1,334,003,535		149,019,786		(151,794,733	)		(2,774,947	)
Global X Data Center REITs & Digital Infrastructure ETF		83,059,005		7,986,508		(3,082,397	)		4,904,111
Global X Cybersecurity ETF		1,141,470,736		77,661,046		(88,466,823	)		(10,805,777	)
Global X Artificial Intelligence & Technology ETF		173,117,619		29,341,377		(15,177,220	)		14,164,157
Global X Millennial Consumer ETF		208,289,567		37,850,084		(17,410,254	)		20,439,830
Global X Education ETF		12,089,410		462,612		(6,074,714	)		(5,612,102	)
Global X Cannabis ETF		248,233,721		1,387,793		(110,315,599	)		(108,927,806	)
Global X Genomics & Biotechnology ETF		292,801,493		27,496,617		(57,973,218	)		(30,476,601	)
Global X China Biotech Innovation ETF		4,277,758		569,090		(544,754	)		24,336
Global X Telemedicine & Digital Health ETF		595,600,705		35,219,941		(149,386,268	)		(114,166,327	)
Global X Aging Population ETF		61,628,920		5,106,482		(7,062,948	)		(1,956,466	)
Global X Health & Wellness ETF		40,510,111		4,231,148		(4,723,842	)		(492,694	)
Global X CleanTech ETF		198,567,535		12,153,212		(35,317,664	)		(23,164,452	)
Global X U.S. Infrastructure Development ETF		4,762,984,673		550,057,515		(100,136,452	)		449,921,063
Global X Thematic Growth ETF		137,511,992		1,702,422		(18,200,038	)		(16,497,616	)
Global X AgTech & Food Innovation ETF		7,125,937		79,427		(1,086,409	)		(1,006,982	)
Global X Blockchain ETF		144,567,990		8,048,534		(8,734,173	)		(685,639	)
Global X Clean Water ETF		8,573,013		324,245		(208,446	)		115,799
Global X Hydrogen ETF		32,796,877		1,681,080		(2,361,599	)		(680,519	)
Global X Solar ETF		9,472,613		277,793		(269,556	)		8,237
Global X Wind Energy ETF		5,249,175		185,308		(436,025	)		(250,717	)

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Funds’ net unrealized appreciation difference is attributable primarily to wash sales, mark-to-market treatment of passive foreign investment companies and partnership adjustments.

The Funds invest in securities of foreign issuers in various countries. These investments may involve certain considerations and risks not typically associated with investments in the United States as a result of, among other factors, the possibility of future political and economic developments and the level of governmental supervision and regulation of securities markets in the respective countries.

229

	Notes to Financial Statements (continued)
	November 30, 2021

6. CONCENTRATION OF RISKS

The Funds may invest in companies focused on business activities in emerging economic themes. Such thematic companies typically face intense competition and potentially rapid product obsolescence. Thematic companies may have limited product lines, markets, financial resources or personnel. These companies typically engage in significant amounts of spending on research and development, capital expenditures and mergers and acquisitions, and there is no guarantee that the products or services produced by these companies will be successful. These companies are also frequently dependent on intellectual property rights and may be adversely affected by loss or impairment of those rights. There can be no assurance these companies will be able to successfully protect their intellectual property to prevent the misappropriation of their technology, or that competitors will not develop technology that is substantially similar or superior to such companies’ technology. Such companies may be potential targets for cyberattacks, which can have a materially adverse impact on the performance of these companies. The emergent nature of many economic themes could result in increasing regulatory scrutiny in the future, which may impede the growth of companies that develop and/or focus on such economic themes. Similarly, the collection of data from consumers and other sources is frequently a critical component in emerging economic themes and could face increased scrutiny as regulators consider how the data is collected, stored, safeguarded and used. Finally, these companies may be involved in young, fast evolving industries with increased exposure to the risks associated with changes in applicable laws (including regulation, other rule changes, and related federal and state enforcement activities), as well as market developments, which may cause businesses to contract or close suddenly and negatively impact the value of these companies.

Special Risk Considerations of Investing in China – Variable Interest Entity Investments. For purposes of raising capital offshore on exchanges outside of China, including on U.S. exchanges, many Chinese-based operating companies are structured as Variable Interest Entities (“VIEs”). In this structure, the Chinese-based operating company is the VIE and establishes a shell company in a foreign jurisdiction, such as the Cayman Islands. The shell company lists on a foreign exchange and enters into contractual arrangements with the VIE. This structure allows Chinese companies in which the government restricts foreign ownership to raise capital from foreign investors. While the shell company has no equity ownership of the VIE, these contractual arrangements permit the shell company to consolidate the VIE’s financial statements with its own for accounting purposes and provide for economic exposure to the performance of the underlying Chinese operating company. Therefore, an investor in the listed shell company, such as certain of the Funds, will have exposure to the Chinese-based operating company only through contractual arrangements and has no ownership in the Chinese-based operating company. Furthermore, because the shell company only has specific rights provided for in these service agreements with the VIE, its abilities to control the activities at the Chinese-based operating company are limited and the operating company may engage in activities that negatively impact investment value. While the VIE structure has been widely adopted, it is not formally recognized under Chinese law and therefore there is a risk that the Chinese government could prohibit the existence of such structures or negatively impact

230

	Notes to Financial Statements (continued)
	November 30, 2021

6. CONCENTRATION OF RISKS (continued)

the VIE’s contractual arrangements with the listed shell company by declaring them invalid. If these contracts were found to be unenforceable under Chinese law, investors in the listed shell company, such as the Fund, may suffer significant losses with little or no recourse available. If the Chinese government determines that the agreements establishing the VIE structures do not comply with Chinese law and regulations, including those related to restrictions on foreign ownership, it could subject a Chinese-based issuer to penalties, revocation of business and operating licenses, or forfeiture of ownership interest. In addition, the listed shell company’s control over a VIE may also be jeopardized if a natural person who holds the equity interest in the VIE breaches the terms of the agreement, is subject to legal proceedings or if any physical instruments for authenticating documentation, such as chops and seals, are used without the Chinese-based issuer’s authorization to enter into contractual arrangements in China. Chops and seals, which are carved stamps used to sign documents, represent a legally binding commitment by the company. Moreover, any future regulatory action may prohibit the ability of the shell company to receive the economic benefits of the Chinese based operating company, which may cause the value of a Fund’s investment in the listed shell company to suffer a significant loss. For example, in 2021, the Chinese government prohibited use of the VIE structure for investment in after-school tutoring companies. There is no guarantee that the government will not place similar restrictions on other industries.

On June 3, 2021, President Biden expanded upon the previously issued executive order that prohibited U.S. persons from transacting in publicly traded securities designated by the U.S. Department of Defense as “Communist Chinese Military Companies” or “CCMCs” or in instruments that are derivative of, or are designed to provide investment exposure to, prohibited CCMC securities. President Biden’s Executive Order retains the structure of the investment-based CCMC sanctions program introduced in late 2020 but expands the prohibitions to address threats from the use of Chinese surveillance technology outside the People’s Republic of China and the development or use of Chinese surveillance technology to facilitate repression or serious human rights abuse (the “Executive Order”).

Under the Executive Order, U.S. persons will be prohibited from engaging in the purchase or sale of publicly traded securities, as well as securities derivative of, or designed to provide investment exposure to, such securities. This prohibition took effect on August 2, 2021 for entities listed in the Appendix to the Executive Order (and 60 days after designation, with respect to subsequently designated entities). In addition, U.S. persons will be required to divest of targeted securities of entities listed in the Appendix to the Executive Order by June 3, 2022 (or 365 days from designation, with respect to subsequently designated entities).

The Executive Order replaces the previous list of CCMCs with a new Non-SDN Chinese Military Industrial Complex Companies List. The U.S. Department of the Treasury, rather than the U.S. Department of Defense, will drive designations going forward.

231

	Notes to Financial Statements (continued)
	November 30, 2021

6. CONCENTRATION OF RISKS (continued)

These actions, any future sanctions or other actions, or even the threat of further sanctions or other actions, may negatively affect the value and liquidity of certain of the Funds’ investments. For example, a Fund may be prohibited from investing in securities issued by companies subject to such sanctions. In addition, sanctions may require a Fund to freeze its existing investments, prohibiting such Fund from buying, selling or otherwise transacting in these investments. Each Fund may be subject to taxes imposed by countries in which they invest. Such taxes are generally based on either income or gains earned or repatriated. The Funds accrue and apply such taxes to net investment income, net realized gains and net unrealized gains as income and/or capital gains are earned.

The Funds use a replication strategy. A replication strategy is an indexing strategy that involves investing in the securities of the underlying index in approximately the same proportions as in the underlying index. The Funds may utilize a representative sampling strategy with respect to their underlying indices when a replication strategy might be detrimental to their shareholders, such as when there are practical difficulties or substantial costs involved in compiling a portfolio of equity securities to follow its underlying index, or, in certain instances, when securities in the underlying index become temporarily illiquid, unavailable or less liquid, or due to legal restrictions (such as diversification requirements that apply to the Funds but not to the underlying indexes).

Commodity related securities are susceptible to fluctuations in certain commodity markets. Any negative changes in commodity markets could have a substantial impact on these Funds.

The elimination of the London Inter-Bank Offered Rate (“LIBOR”) may adversely affect the interest rates on, and value of, certain Fund investments for which the value is tied to LIBOR. The U.K. Financial Conduct Authority has announced that it intends to stop compelling or inducing banks to submit LIBOR rates after 2021. On March 5, 2021, the administrator of LIBOR clarified that the publication of LIBOR on a representative basis will cease for the one-week and two-month U.S. dollar LIBOR settings immediately after December 31, 2021, and for the remaining U.S. dollar LIBOR settings immediately after June 30, 2023. Alternatives to LIBOR are established or in development in most major currencies, including the Secured Overnight Financing Rate (“SOFR”), which is intended to replace U.S. dollar LIBOR. Markets are slowly developing in response to these new rates. Questions around liquidity impacted by these rates, and how to appropriately adjust these rates at the time of transition, remain a concern for the Funds. Accordingly, it is difficult to predict the full impact of the transition away from LIBOR on the Funds until new reference rates and fallbacks for both legacy and new products, instruments and contracts are commercially accepted.

A more complete description of risks is included in each Fund’s Prospectus and Statement of Additional Information.

232

	Notes to Financial Statements (continued)
	November 30, 2021

7. LOANS OF PORTFOLIO SECURITIES

Each Fund may lend portfolio securities having a market value up to one-third of its total assets. Security loans made pursuant to a securities lending agreement with BBH are initially required to be secured by collateral equal to at least 102% of the value of domestic equity securities and American Depository Receipts (“ADRs”) and 105% of the value of foreign equity securities (other than ADRs). Such collateral received in connection with these loans will be cash to be invested in repurchase agreements, short-term investments, or U.S. Treasury obligations and is recognized in the Schedules of Investments and Statements of Assets and Liabilities. The obligation to return securities lending collateral is also recognized as a liability in the Statements of Assets and Liabilities. It is the Funds’ policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan.

Lending securities entails a risk of loss to the Funds if and to the extent that the market value of the securities loans were to increase and the borrower did not increase the collateral accordingly, and the borrower failed to return the securities. In the event the borrower may not provide additional collateral when required or may not return the securities when due, the security lending agency agreement requires the lending agent to indemnify the Funds by replacing either the security or the security’s current market value to the Funds. The Funds could suffer a loss if the value of an investment purchased with cash collateral falls below the market value of loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. The Funds could also experience delays and costs in gaining access to the collateral. The Funds bear the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested.

233

	Notes to Financial Statements (continued)
	November 30, 2021

7. LOANS OF PORTFOLIO SECURITIES (continued)

At November 30, 2021, the following Funds had securities on loan, by counterparty:

	Market Value		Cash Collateral
Global X Robotics & Artificial Intelligence ETF
BNP Paribas Securities Corp	$	631,218	$	642,390
BofA Securities Inc.		23,730,077		25,035,929
Citigroup		111,081		113,047
Credit Suisse Securities		2,837,287		3,030,370
Goldman Sachs & Co.		2,916,064		3,065,454
J.P. Morgan Securities LLC		53,962,883		56,863,697
Morgan Stanley & Co. LLC		63,687,644		66,722,060
National Financial Services LLC		1,511,864		1,529,010
Nomura Securities International Inc		16,256		17,061
Scotia Capital		159,590		167,520
UBS AG London Branch		3,666,108		4,023,878
UBS Securities LLC		513,020		522,100
Total	$	153,743,092	$	161,732,516
Global X Internet of Things ETF
Barclays Capital Inc.	$	567,000	$	599,105
BofA Securities Inc.		1,789,769		1,896,857
Citigroup		113,271		119,102
Credit Suisse Securities		560,067		588,897
Goldman Sachs & Co.		479,036		501,376
Scotia Capital		42,930		45,140
SG Americas Securities		219,867		231,185
UBS AG London Branch		431,875		451,281
UBS Securities LLC		137,855		142,990
Total	$	4,341,670	$	4,575,933
Global X FinTech ETF
BMO Capital Markets	$	766,296	$	818,493
BNP Paribas Securities Corp		982,032		1,002,990
BofA Securities Inc.		17,261,946		18,429,417
Citigroup		5,534,133		5,691,789
Credit Suisse Securities		428,629		469,184
Goldman Sachs & Co.		2,691,291		2,801,336
J.P. Morgan Securities LLC		14,262,322		14,843,770
Morgan Stanley & Co. LLC		1,277,527		1,304,792
National Financial Services LLC		338,788		349,120
Scotia Capital		1,321,775		1,411,068
UBS AG London Branch		61,773		64,820
Wells Fargo		8,856		9,225
Total	$	44,935,368	$	47,196,004

234

	Notes to Financial Statements (continued)
	November 30, 2021

7. LOANS OF PORTFOLIO SECURITIES (continued)

	Market Value		Cash Collateral
Global X Video Games & Esports ETF
Citigroup	$	1,620,807	$	1,515,388	⁽¹⁾
Credit Suisse Securities		1,669,494		1,732,846
Goldman Sachs & Co.		10,521,994		10,987,442
J.P. Morgan Securities LLC		1,035,232		1,071,350
UBS AG London Branch		94,080		113,694
Total	$	14,941,607	$	15,420,720
Global X Autonomous & Electric Vehicles ETF
Barclays Capital Inc.	$	8,062,740	$	8,585,700
BofA Securities Inc.		261,724		268,994
Citigroup		317,788		341,038
Credit Suisse Securities		734,184		787,950
Goldman Sachs & Co.		3,629,126		3,722,757
J.P. Morgan Securities LLC		2,114,474		2,269,275
Scotia Capital		3,038,181		3,106,555
SG Americas Securities LLC		122,195		131,347
UBS Securities LLC		559,486		585,575
Total	$	18,839,898	$	19,799,191
Global X Cloud Computing ETF
J.P. Morgan Securities LLC	$	5,058,316	$	5,243,225
Scotia Capital		55,352		57,240
UBS AG London Branch		3,154,824		4,294,152
UBS Securities LLC		4,051,544		4,189,710
Total	$	12,320,036	$	13,784,327
Global X Artificial Intelligence & Technology ETF
Goldman Sachs & Co.	$	235,413	$	247,005
J.P. Morgan Securities LLC		788,963		814,619
Total	$	1,024,376	$	1,061,624
Global X Millennial Consumer ETF
J.P. Morgan Securities LLC	$	693,952	$	764,400
Scotia Capital		976,544		1,082,691
UBS AG London Branch		856		1,232
Total	$	1,671,352	$	1,848,323

235

	Notes to Financial Statements (continued)
	November 30, 2021

7. LOANS OF PORTFOLIO SECURITIES (continued)

	Market Value		Cash Collateral
Global X Cannabis ETF
Barclays Capital Inc.	$	6,011,995	$	4,440,318	⁽¹⁾
BNP Parabis S.A. (New York Branch)		121,765		127,600
Citigroup		2,306,410		2,371,646
Credit Suisse Securities		477,044		546,401
Goldman Sachs & Co.		1,590,576		1,593,414
J.P. Morgan Securities LLC		3,205,691		3,094,618	⁽¹⁾
Morgan Stanley & Co. LLC		3,953,641		5,913,506
Scotia Capital		5,934,795		7,002,223
UBS AG London Branch		5,543,225		6,939,475
UBS Securities LLC		1,752,582		1,798,950
Total	$	30,897,724	$	33,828,151
Global X Genomics & Biotechnology ETF
Barclays Capital Inc.	$	947,640	$	993,750
BNP Paribas Securities Corp		714,008		724,790
BofA Securities Inc.		1,770,406		1,723,712	⁽¹⁾
Citigroup		516,271		502,736	⁽¹⁾
Goldman Sachs & Co.		2,656,968		2,679,258
National Financial Services LLC		4,726		4,590	⁽¹⁾
Total	$	6,610,019	$	6,628,836
Global X Telemedicine & Digital Health ETF
BofA Securities Inc.	$	23,673	$	26,325
Citigroup		3,460,919		3,641,715
Credit Suisse Securities		115,913		128,475
Goldman Sachs & Co.		1,389,149		1,483,916
National Financial Services LLC		1,186,407		1,196,010
UBS AG London Branch		271,800		367,600
Total	$	6,447,861	$	6,844,041
Global X U.S. Infrastructure Development ETF
Barclays Capital Inc.	$	30,321,500	$	32,035,000
Total	$	30,321,500	$	32,035,000
Global X Thematic Growth ETF
BofA Securities Inc.	$	3,470,736	$	3,620,250
Citigroup		6,279,101		6,546,280
Goldman Sachs & Co.		191,688		199,290
UBS AG London Branch		614,088		708,264
Total	$	10,555,613	$	11,074,084

236

	Notes to Financial Statements (continued)
	November 30, 2021

7. LOANS OF PORTFOLIO SECURITIES (continued)

	Market Value		Cash Collateral
Global X Blockchain ETF
BMO Capital Markets	$	23,124	$	23,617
BofA Securities Inc.		11,532,506		12,060,817
Credit Suisse Securities		21,018		21,360
Goldman Sachs & Co.		5,354,395		5,680,687
Total	$	16,931,043	$	17,786,481

⁽¹⁾

It is the Funds’ policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan.

8. CONTRACTUAL OBLIGATIONS

The Funds enter into contracts in the normal course of business that contain a variety of indemnifications. The Funds’ maximum exposure under these arrangements is unknown. However, the Funds have not had prior gains or losses pursuant to these contracts. Management has reviewed the Funds’ existing contracts and expects the risk of loss to be remote.

Pursuant to the Trust’s organizational documents, the Trustees of the Trust and the Trust’s officers are indemnified against certain liabilities that may arise out of the performance of their duties.

9. REGULATORY MATTERS

In December 2020, the SEC adopted a new rule providing a framework for fund valuation practices, Rule 2a-5 under the 1940 Act (“Rule 2a-5”). Rule 2a-5 establishes requirements for determining fair value in good faith for purposes of the 1940 Act. Rule 2a-5 will permit fund boards to designate certain parties to perform fair value determinations, subject to board oversight and certain other conditions. Rule 2a-5 also defines when market quotations are “readily available” for purposes of the 1940 Act and the threshold for determining whether a fund must fair value a security. In connection with the adoption of Rule 2a-5, the SEC also adopted related recordkeeping requirements and is rescinding previously issued guidance, including with respect to the role of a board in determining fair value and the accounting and auditing of fund investments. The Funds will be required to comply with Rule 2a-5 and the other requirements by September 8, 2022. Management is currently assessing the potential impact of the new rules on the Funds’ financial statements.

237

	Notes to Financial Statements (concluded)
	November 30, 2021

10. SUBSEQUENT EVENTS

On September 7, 2021, the Custodian announced that it had entered into an agreement with State Street Bank and Trust Company (“State Street”) to sell BBH’s Investor Services business to State Street (the “Transaction”). The Transaction is subject to certain closing conditions, including regulatory and customary approvals, and it is expected to be consummated in the first quarter of 2022 (the “Closing Date”). Consequently, as a result of the Transaction, it is expected that State Street will replace BBH as the Funds’ custodian effective as of the Closing Date.

The Funds have been evaluated by management regarding the need for additional disclosures (other than what is disclosed in the preceding paragraph) and/or adjustments resulting from subsequent events. Based on this evaluation, no additional adjustments were required to the financial statements.

238

	Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Global X Funds and Shareholders of each of the twenty-six funds listed in the table below

Opinions on the Financial Statements

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (twenty-six of the funds constituting Global X Funds, hereafter collectively referred to as the “Funds”) as of November 30, 2021, the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of November 30, 2021, the results of each of their operations and the changes in each of their net assets for the periods indicated in the table below, and each of the financial highlights for each of the periods indicated therein, in conformity with accounting principles generally accepted in the United States of America.

Global X Health & Wellness ETF (1)	Global X Cybersecurity ETF (1)
Global X Aging Population ETF (1)	Global X Thematic Growth ETF (1)
Global X Millennial Consumer ETF (1)	Global X Education ETF (2)
Global X FinTech ETF (1)	Global X Telemedicine & Digital Health ETF (3)
Global X Internet of Things ETF (1)	Global X China Biotech Innovation ETF (4)
Global X Robotics & Artificial Intelligence ETF (1)	Global X CleanTech ETF (5)
Global X U.S. Infrastructure Development ETF (1)	Global X Data Center REITs & Digital Infrastructure ETF (5)
Global X Autonomous & Electric Vehicles ETF (1)	Global X Clean Water ETF (6)
Global X Artificial Intelligence & Technology ETF (1)	Global X AgTech & Food Innovation ETF (7)
Global X Genomics & Biotechnology ETF (1)	Global X Blockchain ETF (7)
Global X Cloud Computing ETF (1)	Global X Hydrogen ETF (7)
Global X Cannabis ETF (1)	Global X Solar ETF (8)

239

	Report of Independent Registered Public Accounting Firm

Global X Video Games & Esports ETF (1)

Global X Wind Energy ETF (8)

1.	Statement of operations for the year ended November 30, 2021, and statements of changes in net assets for each of the two years in the period ended November 30, 2021
2.	Statement of operations for the year ended November 30, 2021, and statements of changes in net assets for the year ended November 30, 2021 and the period July 10, 2020 (commencement of operations) through November 30, 2020
3.	Statement of operations for the year ended November 30, 2021, and statements of changes in net assets for the year ended November 30, 2021 and the period July 29, 2020 (commencement of operations) through November 30, 2020
4.	Statement of operations for the year ended November 30, 2021, and statements of changes in net assets for the year ended November 30, 2021 and the period September 22, 2020 (commencement of operations) through November 30, 2020
5.	Statement of operations for the year ended November 30, 2021, and statements of changes in net assets for the year ended November 30, 2021 and the period October 27, 2020 (commencement of operations) through November 30, 2020
6.	Statement of operations and statement of changes in net assets for the period April 8, 2021 (commencement of operations) through November 30, 2021
7.	Statement of operations and statement of changes in net assets for the period July 12, 2021 (commencement of operations) through November 30, 2021
8.	Statement of operations and statement of changes in net assets for the period September 8, 2021 (commencement of operations) through November 30, 2021

Basis for Opinions

These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of November 30, 2021, by correspondence with the custodian, transfer agent and brokers; when

240

	Report of Independent Registered Public Accounting Firm

replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

January 27, 2022

We have served as the auditor of one or more investment companies in the Global X Funds since 2016.

241

	Disclosure of Fund Expenses (unaudited)

All exchange traded funds (“ETFs”) have operating expenses. As a shareholder of an ETF, your investment is affected by these ongoing costs, which include (among others) costs for ETF management, administrative services, commissions, and shareholder reports like this one. It is important for you to understand the impact of these costs on your investment returns. In addition, a shareholder is responsible for brokerage fees as a result of their investment in the Fund.

Operating expenses such as these are deducted from an ETF’s gross income and directly reduce its final investment return. These expenses are expressed as a percentage of the ETF’s average net assets; this percentage is known as the ETF’s expense ratio.

The following examples use the expense ratio and are intended to help you understand the ongoing costs (in dollars) of investing in your Fund and to compare these costs with those of other funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period (June 1, 2021 to November 30, 2021).

The table on the next page illustrates your Fund’s costs in two ways:

Actual Fund Return. This section helps you to estimate the actual expenses that your Fund incurred over the period. The “Expenses Paid During Period” column shows the actual dollar expense cost incurred by a $1,000 investment in the Fund, and the “Ending Account Value” number is derived from deducting that expense cost from the Fund’s gross investment return.

You can use this information, together with the actual amount you invested in the Funds, to estimate the expenses you paid over that period. Simply divide your actual account value by $1,000 to arrive at a ratio (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply that ratio by the number shown for your Funds under “Expenses Paid During Period.”

Hypothetical 5% Return. This section helps you compare your Fund’s costs with those of other funds. It assumes that the Funds had an annual 5% return before expenses during the year, but that the expense ratio (Column 3) for the period is unchanged. This example is useful in making comparisons because the Securities and Exchange Commission requires all funds to make this 5% calculation. You can assess your Fund’s comparative cost by comparing the hypothetical result for your Fund in the “Expenses Paid During Period” column with those that appear in the same charts in the shareholder reports for other funds.

NOTE: Because the return is set at 5% for comparison purposes — NOT your Fund’s actual return — the account values shown may not apply to your specific investment.

242

	Disclosure of Fund Expenses (unaudited) (continued)

	Beginning Account Value 6/1/2021		Ending Account Value 11/30/2021		Annualized Expense Ratios			Expenses Paid During Period⁽¹⁾
Global X Robotics & Artificial Intelligence ETF
Actual Fund Return	$	1,000.00	$	1,059.00		0.68	%	$	3.51
Hypothetical 5% Return		1,000.00		1,021.66		0.68			3.45

Global X Internet of Things ETF
Actual Fund Return	$	1,000.00	$	1,088.40		0.68	%	$	3.56
Hypothetical 5% Return		1,000.00		1,021.66		0.68			3.45

Global X FinTech ETF
Actual Fund Return	$	1,000.00	$	1,008.40		0.68	%	$	3.42
Hypothetical 5% Return		1,000.00		1,021.66		0.68			3.45

Global X Video Games & Esports ETF
Actual Fund Return	$	1,000.00	$	912.90		0.50	%	$	2.40
Hypothetical 5% Return		1,000.00		1,022.56		0.50			2.54

Global X Autonomous & Electric Vehicles ETF
Actual Fund Return	$	1,000.00	$	1,100.80		0.68	%	$	3.58
Hypothetical 5% Return		1,000.00		1,021.66		0.68			3.45

Global X Cloud Computing ETF
Actual Fund Return	$	1,000.00	$	1,084.90		0.68	%	$	3.55
Hypothetical 5% Return		1,000.00		1,021.66		0.68			3.45

Global X Data Center REITs & Digital Infrastructure ETF
Actual Fund Return	$	1,000.00	$	1,092.10		0.50	%	$	2.62
Hypothetical 5% Return		1,000.00		1,022.56		0.50			2.54

Global X Cybersecurity ETF
Actual Fund Return	$	1,000.00	$	1,160.00		0.50	%	$	2.71
Hypothetical 5% Return		1,000.00		1,022.56		0.50			2.54

Global X Artificial Intelligence & Technology ETF
Actual Fund Return	$	1,000.00	$	1,094.00		0.68	%	$	3.57
Hypothetical 5% Return		1,000.00		1,021.66		0.68			3.45

Global X Millennial Consumer ETF
Actual Fund Return	$	1,000.00	$	1,034.40		0.50	%	$	2.55
Hypothetical 5% Return		1,000.00		1,022.56		0.50			2.54

Global X Education ETF
Actual Fund Return	$	1,000.00	$	653.50		0.50	%	$	2.07
Hypothetical 5% Return		1,000.00		1,022.56		0.50			2.54

Global X Cannabis ETF
Actual Fund Return	$	1,000.00	$	474.90		0.50	%	$	1.85
Hypothetical 5% Return		1,000.00		1,022.56		0.50			2.54

243

	Disclosure of Fund Expenses (unaudited) (continued)

	Beginning Account Value 6/1/2021		Ending Account Value 11/30/2021		Annualized Expense Ratios			Expenses Paid During Period⁽¹⁾
Global X Genomics & Biotechnology ETF
Actual Fund Return	$	1,000.00	$	957.70		0.50	%	$	2.45
Hypothetical 5% Return		1,000.00		1,022.56		0.50			2.54

Global X China Biotech Innovation ETF
Actual Fund Return	$	1,000.00	$	842.20		0.65	%	$	3.00
Hypothetical 5% Return		1,000.00		1,021.81		0.65			3.29

Global X Telemedicine & Digital Health ETF
Actual Fund Return	$	1,000.00	$	886.00		0.68	%	$	3.21
Hypothetical 5% Return		1,000.00		1,021.66		0.68			3.45

Global X Aging Population ETF
Actual Fund Return	$	1,000.00	$	940.10		0.50	%	$	2.43
Hypothetical 5% Return		1,000.00		1,022.56		0.50			2.54

Global X Health & Wellness ETF
Actual Fund Return	$	1,000.00	$	957.60		0.50	%	$	2.45
Hypothetical 5% Return		1,000.00		1,022.56		0.50			2.54

Global X CleanTech ETF
Actual Fund Return	$	1,000.00	$	1,061.30		0.50	%	$	2.58
Hypothetical 5% Return		1,000.00		1,022.56		0.50			2.54

Global X U.S. Infrastructure Development ETF
Actual Fund Return	$	1,000.00	$	1,028.80		0.47	%	$	2.39
Hypothetical 5% Return		1,000.00		1,022.71		0.47			2.38

Global X Thematic Growth ETF
Actual Fund Return	$	1,000.00	$	982.80		0.00	%	$	0.00
Hypothetical 5% Return		1,000.00		1,024.37		0.00			0.00

Global X AgTech & Food Innovation ETF*
Actual Fund Return	$	1,000.00	$	779.80		0.51	%	$	1.75	⁽²⁾
Hypothetical 5% Return		1,000.00		1,022.51		0.51			2.59

Global X Blockchain ETF*
Actual Fund Return	$	1,000.00	$	973.60		0.51	%	$	1.94	⁽²⁾
Hypothetical 5% Return		1,000.00		1,022.51		0.51			2.59

Global X Clean Water ETF**
Actual Fund Return	$	1,000.00	$	1,054.20		0.50	%	$	2.57	⁽³⁾
Hypothetical 5% Return		1,000.00		1,022.56		0.50			2.54

244

	Disclosure of Fund Expenses (unaudited) (concluded)

	Beginning Account Value 6/1/2021		Ending Account Value 11/30/2021		Annualized Expense Ratios			Expenses Paid During Period⁽¹⁾
Global X Hydrogen ETF*
Actual Fund Return	$	1,000.00	$	973.60		0.51	%	$	1.94	⁽²⁾
Hypothetical 5% Return		1,000.00		1,022.51		0.51			2.59

Global X Solar ETF***
Actual Fund Return	$	1,000.00	$	1,062.40		0.50	%	$	1.19	⁽⁴⁾
Hypothetical 5% Return		1,000.00		1,022.56		0.50			2.54

Global X Wind Energy ETF***
Actual Fund Return	$	1,000.00	$	957.30		0.50	%	$	1.11	⁽⁴⁾
Hypothetical 5% Return		1,000.00		1,022.56		0.50			2.54

(1)	Expenses are equal to the Fund’s annualized expense ratio multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).
(2)	Expenses are equal to the Fund’s annualized expense ratio multiplied by the average account value over the period, multiplied by 141/365 (to reflect the period from inception to date).
(3)	Expenses are equal to the Fund’s annualized expense ratio multiplied by the average account value over the period, multiplied by 136/365 (to reflect the period from inception to date).
(4)	Expenses are equal to the Fund’s annualized expense ratio multiplied by the average account value over the period, multiplied by 83/365 (to reflect the period from inception to date).
*	The Fund commenced operations on July 12, 2021.
**	The Fund commenced operations on April 8, 2021.
***	The Fund commenced operations on September 8, 2021.

245

	Approval of Investment Advisory Agreement (unaudited)

Section 15(c) of the Investment Company Act of 1940, as amended (“1940 Act”), requires that the board of trustees of an exchange-traded fund (“ETF”), including a majority of those trustees who are not “interested persons” of the ETF, as defined in the 1940 Act (“Independent Trustees”), consider on an initial basis and periodically thereafter (as required by the 1940 Act), at an in person meeting called for such purpose, the terms of each ETF’s investment advisory agreement and whether to approve entering into, or renewing, each agreement.

At a Board meeting of the Global X Funds (the “Trust”) held by videoconference on May 21, 2021¹ (the “New Fund Board Meeting”), the Board of Trustees (the “Board”) (including the Trust’s Independent Trustees, voting separately) considered and unanimously approved (i) the initial Investment Advisory Agreement (“New Investment Advisory Agreement”) for the Global X Blockchain ETF, the Global X AgTech & Food Innovation ETF, the Global X Hydrogen ETF, the Global X Solar ETF and the Global X Wind Energy ETF (each a “New Fund,” and referred to collectively as the “New Funds”) and (ii) the initial Supervision and Administration Agreement between the Trust (“New Supervision and Administration Agreement”), on behalf of the New Funds, and Global X Management Company LLC (“Global X Management”). The New Advisory Agreement and New Supervision and Administration Agreement are referred to collectively as the “New Fund Agreements.”

At a Board meeting of the Trust held via videoconference November 12, 2021¹, called for such purpose, the Board (including the Trust’s Independent Trustees, voting separately) also considered and unanimously approved the continuation of (i) the Investment Advisory Agreement (“Renewal Investment Advisory Agreement”) for each Fund included in this Annual Report (each, a “Renewal Fund”); (ii) the Supervision and Administration Agreements between the Trust (“Renewal Supervision and Administration Agreements”), on behalf of each Renewal Fund, and Global X Management. The Renewal Investment Advisory Agreement and the Renewal Supervision and Administration Agreements are referred to herein as the “Renewal Agreements.”

NEW FUND AGREEMENTS

In determining to approve the New Fund Agreements for the New Funds, the Board considered a variety of factors, including the factors discussed in greater detail below.

In advance of the Board meetings, the Board (including the Trust’s Independent Trustees) and the Independent Trustees’ independent legal counsel requested (in writing) detailed information from Global X Management in connection with the Board’s consideration of the Renewal Agreements and the New Fund Agreements, and received and reviewed written responses from Global X Management as well as supporting materials relating to those requests for information. In the course of their consideration of the Renewal Agreements and New Fund Agreements, the Trust’s Independent Trustees were advised by their independent legal counsel and, in addition to meetings with management of Global X Management, the Independent Trustees met separately in executive sessions with their counsel.

246

	Approval of Investment Advisory Agreement (unaudited) (continued)

Nature, Extent and Quality of Services

With respect to this factor, the Board considered:

●	the terms of the New Fund Agreements and the range of services proposed to be provided to the New Funds in accordance with the New Fund Agreements;

●	Global X Management’s key personnel and the portfolio managers who would provide investment advisory, supervision and administrative services to the New Funds;

●

Global X Management’s responsibilities under the New Fund Agreements to, among other things, (i) manage the investment operations of the New Funds and the composition of the New Funds’ assets, including the purchase, retention and disposition of its holdings, (ii) provide quarterly reports to the Trust’s officers and the Board and other reports as the Board deems necessary or appropriate, (iii) vote proxies, exercise consents, and exercise all other rights appertaining to securities and assets held by the New Funds, (iv) select broker-dealers to execute portfolio transactions for the New Funds when necessary, (v) assist in the preparation and filing of reports and proxy statements (if any) to the shareholders of the New Funds, and the periodic updating of the registration statements, prospectuses, statements of additional information, and other reports and documents for the New Funds that are required to be filed by the Trust with the U.S. Securities and Exchange Commission (“SEC”) and other regulatory or governmental bodies, and (vi) monitor anticipated purchases and redemptions of the shares (including Creation Units) of the New Funds by shareholders and new investors;

●	the nature, extent and quality of all of the services (including advisory, administrative and compliance services) that are proposed to be provided by Global X Management or made available to the New Funds; and

●	the quality of Global X Management’s resources and personnel that would be made available to the New Funds, including Global X Management’s experience and the professional qualifications of Global X Management’s key personnel.

Based on these considerations, the Board concluded, at the New Fund Board Meeting, that it was satisfied with the nature, extent and quality of the services proposed to be provided to the New Funds by Global X Management.

Performance

The Board determined that, because the New Funds had not yet begun investment operations as of the dates of the New Fund Board Meeting, meaningful data relating to

247

	Approval of Investment Advisory Agreement (unaudited) (continued)

the investment performance of the New Funds was not available and, therefore, could not be a factor in approving the New Fund Agreements.

Cost of Services and Profitability

With respect to this factor, the Board considered:

●	Global X Management’s expected costs to provide investment management, supervision and administrative and related services to each New Fund;

●

the management fee (including the proposed investment advisory fee) (“Management Fee”) that was proposed to be borne by each New Fund under the respective New Fund Agreement for the various investment advisory, supervisory and administrative services that the New Funds require under a unitary fee structure (including the types of fees and expenses that are not included within the unitary fee and would be borne by the New Funds); and

●	the expected profitability to Global X Management, if any, from all of the services proposed to be provided to the New Funds by Global X Management and all aspects of the relationship between Global X Management and the New Funds.

Based on these considerations, the Board concluded that the proposed Management Fee to be paid by each New Fund to Global X Management, in light of the nature, extent and quality of the services to be provided, was reasonable and in the best interests of the New Fund’s shareholders.

Comparison of Fees and Services

With respect to this factor, the Board considered:

●

comparative information with respect to the proposed Management Fee to be paid to Global X Management by each New Fund. In connection with this consideration, Global X Management provided the Board with comparative expense data for each New Fund, including fees and expenses paid by unaffiliated similar specialized and/or focused ETFs, and/or other similar registered funds. The Board considered Global X Management’s detailed explanation of the proposed fee structures of any New Fund that was above the average or median for the New Fund’s peer group;

●

the structure of the proposed unitary Management Fee (which includes as one component the proposed investment advisory fee for the New Funds) and the expected total expense ratios for the New Funds. In this regard, the Board took into consideration that the purpose of adopting a unitary Management Fee structure for the New Funds was to create a simple, all-inclusive fee that would provide a level of

248

	Approval of Investment Advisory Agreement (unaudited) (continued)

predictability with respect to the overall expense ratios (i.e., the total fees) of the New Funds and that the proposed Management Fee for each New Fund was set at a competitive level to make the New Fund viable in the marketplace; and

●

that, under the proposed unified Management Fee structure, Global X Management would be responsible for most ordinary expenses of the New Funds, including the costs of various third-party services required by the New Funds, including investment advisory, administrative, audit, certain custody, portfolio accounting, legal, transfer agency and printing costs, but that each New Fund would bear other expenses not covered under the proposed all-inclusive Management Fee, such as taxes, brokerage fees, commissions, and other transaction expenses, interest expenses, and extraordinary expenses.

Based on these considerations, the Board concluded, at the New Fund Board Meeting, that the services to be received and the fees to be charged under the applicable New Fund Agreements were reasonable on a comparative basis.

Economies of Scale

With respect to this factor, the Board considered:

●	the extent to which economies of scale would be realized as the New Funds grow and whether the proposed unitary Management Fees for the New Funds reflected these economies of scale;

●	the significant investment of time, personnel and other resources that Global X Management intends to make in the New Funds in order to seek to assure that the New Funds are attractive to investors; and

●	that the proposed unitary Management Fee would provide a high level of certainty as to the total level of expenses for each New Fund and its shareholders.

Based on these considerations, the Board concluded, at the New Fund Board Meeting, that the proposed unitary Management Fees for the New Funds appropriately addressed economies of scale.

Other Benefits

In considering each New Fund Agreement, in addition to the factors discussed above, the Board considered other benefits that may be realized by Global X Management as a result of its relationships with the New Funds. As a result, the Board concluded that, in the case of each New Fund, in the exercise of the Board’s business judgement, all information the Board considered supported approval of the applicable New Fund Agreements.

249

	Approval of Investment Advisory Agreement (unaudited) (continued)

Conclusion

After full consideration of the factors above, as well as other factors that were instructive in their consideration, the Board, including all of the Trust’s Independent Trustees voting separately, concluded, in the exercise of its business judgement, that the New Fund Agreements were fair and reasonable and in the best interest of the New Funds.

In reaching this decision, the Board did not assign relative weights to the factors above nor did the Board deem any one factor or group of them to be controlling in and of themselves. Each member of the Board may have assigned different weights to the various factors.

RENEWAL AGREEMENTS

In determining to approve the continuation of the Renewal Agreements for the Renewal Funds, the Board considered a variety of factors, including the factors discussed in greater detail below.

Nature, Extent and Quality of Services

With respect to this factor, the Board considered:

●	the terms of the Renewal Agreements and the range of services that would continue to be provided to each Renewal Fund in accordance with the Renewal Agreements;

●	Global X Management’s key personnel and the portfolio managers who would continue to provide investment advisory, supervision and administrative services to each Renewal Fund;

●

Global X Management’s responsibilities under the Renewal Agreements, among other things, to: (i) manage the investment operations of the Renewal Funds and the composition of the Renewal Funds’ assets, including the purchase, retention and disposition of their holdings, (ii) provide quarterly reports to the Trust’s officers and the Board and other reports as the Board deems necessary or appropriate, (iii) vote proxies, exercise consents, and exercise all other rights relating to securities and assets held by the Renewal Funds, (iv) select broker-dealers to execute portfolio transactions for the Renewal Funds when necessary, (v) assist in the preparation and filing of reports and proxy statements (if any) to the shareholders of the Renewal Funds, and the periodic updating of the registration statement, prospectuses, statements of additional information, and other reports and documents for the Renewal Funds that are required to be filed by the Trust with the SEC and other regulatory and governmental bodies, and (vi) monitor anticipated purchases and redemptions of the shares (including Creation Units) of the Renewal Funds by shareholders and new investors;

250

	Approval of Investment Advisory Agreement (unaudited) (continued)

●	the nature, extent and quality of all of the services (including advisory, administrative and compliance services) that have been provided by Global X Management or made available to the Renewal Funds; and

●	the quality of Global X Management’s resources and personnel that would continue to be made available to the Renewal Funds, including Global X Management’s experience and the professional qualifications of Global X Management’s key personnel.

Based on these considerations, the Board concluded that it was satisfied with the nature, extent and quality of the services provided to the Renewal Funds by Global X Management.

Performance

The Board considered the performance of each Renewal Fund. They examined the performance of the Renewal Funds for the one-year, three-year, five-year and since-inception periods, as applicable. Also, the Board considered the total return and investments performance of the Renewal Funds relative to (i) the performance of unaffiliated comparable ETFs and/or other registered funds, which performance information is publicly available from such registered funds, as well as other third party sources; and (ii) the performance of pertinent indexes. The Board considered instances of under-performance and over-performance with respect to the competitor funds. The Board also considered the Renewal Funds’ tracking against their underlying indexes in absolute terms.

Based on these considerations and comparisons, the Board concluded that the investment performance of the Renewal Funds did not adversely affect the Board’s approval of the continuance of the Renewal Agreements.

Cost of Services and Profitability

The Board considered Global X Management’s cost to provide investment management, supervision and administrative and related services to the Renewal Funds. In this regard, the Board considered the management fee (“Management Fee”) that has been borne or is expected to be borne by the Renewal Funds under the Renewal Agreements for the various investment advisory, supervisory and administrative services that the Renewal Funds require under a unitary fee structure (including the types of fees and expenses that are not included within the unitary fee and would be borne by the Renewal Funds).

In addition, the Board considered expected profitability to Global X Management, as applicable, from all services provided or expected to be provided to the Renewal Funds and all aspects of Global X Management’s relationship with the Renewal Funds. In

251

	Approval of Investment Advisory Agreement (unaudited) (continued)

connection with these considerations, Global X Management provided the Board with financial information regarding its operations and the services provided to the Renewal Funds and discussed with the Board its current and expected, as applicable, profitability with respect to the Renewal Funds.

Based on these considerations, the Board concluded that the Management Fee rate paid by the Renewal Funds to Global X Management, in light of the nature, extent and quality of the services provided, was reasonable and in the best interests of the Renewal Funds’ shareholders.

Comparison of Fees and Services

With respect to this factor, the Board considered:

●

comparative information with respect to the Management Fee paid to Global X Management by the Renewal Funds. In connection with this consideration, Global X Management provided the Board with comparative expense data for the Renewal Funds, including fees and expenses paid by unaffiliated similar specialized and/or focused ETFs and/or other comparable registered funds. The Board considered the Global X Management’s detailed explanation of the fee structures of any Renewal Fund that was above the average or median for its peer group;

●

the structure of the unitary Management Fee (which includes as one component the investment advisory fee for the Renewal Funds) and the current total expense ratios for the Renewal Funds. In this regard, the Board took into consideration that the purpose of adopting a unitary Management Fee structure for the Renewal Funds was to create a simple, all-inclusive fee that would provide a level of predictability with respect to the overall expense ratio (i.e., the total fees) of the Renewal Funds and that the proposed Management Fees for the Renewal Funds were set at a competitive levels to make the Renewal Funds viable in the marketplace; and

●

that, under the unified Management Fee structure, Global X Management is responsible for most ordinary expenses of the Renewal Funds, including the costs of various third-party services required by the Renewal Funds, including investment advisory, administrative, audit, certain custody, portfolio accounting, legal, transfer agency and printing costs, but that the Renewal Funds would bear other expenses not covered under the proposed all-inclusive Management Fee, such as taxes, brokerage fees, commissions, and other transaction expenses, interest expenses, and extraordinary expenses.

Based on these considerations, the Board concluded that the services received and the fees charged under the Renewal Agreements were reasonable on a comparative basis.

252

	Approval of Investment Advisory Agreement (unaudited) (concluded)

Economies of Scale

With respect to this factor, the Board considered:

●	the extent to which economies of scale would be realized as the Renewal Funds grow and whether the unitary Management Fee for the Renewal Funds reflected these economies of scale;

●	the significant investment of time, personnel and other resources that Global X Management has made and intends to continue to make in the Renewal Funds in order to seek to assure that the Renewal Funds are attractive to investors; and

●	that the unitary Management Fee would provide a high level of certainty as to the total level of expenses for the Renewal Funds and their shareholders.

Based on these considerations, the Board concluded that the unitary Management Fee for the Renewal Funds appropriately addressed economies of scale.

Other Benefits

In considering the Renewal Agreements, in addition to the factors above, the Board considered any other benefits realized by Global X Management as a result of its relationships with the Renewal Funds and concluded that, in the exercise of the Board’s business judgement, all information the Board considered supported approval of the continuation of the Renewal Agreements.

Conclusion

After full consideration of the factors above, as well as other factors that were instructive in its consideration, the Board, including all of the Trust’s Independent Trustees voting. separately, concluded, in the exercise of its business judgement, that the Renewal Agreements were fair and reasonable and in the best interest of each Renewal Fund.

253

	Supplemental Information (unaudited)

Net asset value, or “NAV”, is the price per Share at which a Fund issues and redeems Shares. It is calculated in accordance with the standard formula for valuing mutual fund shares. The “Market Price” of a Fund generally is determined using the midpoint between the highest bid and the lowest offer on the stock exchange on which the Shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. The Fund’s Market Price may be at, above or below its NAV. The NAV of a Fund will fluctuate with changes in the market value of the Fund’s holdings. The Market Price of a Fund will fluctuate in accordance with changes in its NAV, as well as market supply and demand.

Premiums or discounts are the differences (expressed as a percentage) between the NAV and Market Price of a Fund on a given day, generally at the time NAV is calculated. A premium is the amount that a Fund is trading above the reported NAV, expressed as a percentage of the NAV. A discount is the amount that a Fund is trading below the reported NAV, expressed as a percentage of the NAV.

Further information regarding premiums and discounts is available on the Funds’ website at www.globalxetfs.com.

254

	Trustees and Officers of the Trust (unaudited)

Set forth below are the names, addresses, years of birth, positions with the Trust, term of office and length of time served, the principal occupations for the last five years, number of Funds in the Trust overseen by the each Trustee, and other directorships outside the fund complex of each of the persons currently serving as Trustees and Officers of the Trust. The Trust’s Statement of Additional Information (“SAI”) includes additional information about the Trustees and Officers. The SAI may be obtained without charge by calling 1-888-493-8631.

Name, Address (Year of Birth)	Position(s) Held with Trust	Principal Occupation(s) During the Past 5 Years	Number of Funds in Trust Overseen by Trustee	Other Directorships Held by Trustees
Independent Trustees¹
Charles A. Baker 605 Third Avenue, 43rd Floor New York, NY 10158 (1953)	Trustee (since 07/2018)	Chief Executive Officer of Investment Innovations LLC (investment consulting) (since 2013); Managing Director of NYSE Euronext (2003 to 2012).	102²	Trustee of OSI ETF Trust (since 2016).
Susan M. Ciccarone 605 Third Avenue, 43rd Floor New York, NY 10158 (1973)	Trustee (since 9/30/2019)	Partner, Further Global Capital Management (private equity) (since 2017); formerly Chief Operating Officer (2014-2016) and Chief Financial Officer (2012-2016), Emerging Global Advisors, LLC (ETF issuer).	102²	Chairman, Payment Alliance International, Inc. (since 2019); Director, Casa Holdco LP, parent of Celink (since 2018).
Clifford J. Weber 605 Third Avenue, 43rd Floor New York, NY 10158 (1963)	Trustee (since 07/2018)	Owner, Financial Products Consulting Group LLC (consulting services to financial institutions) (since 2015); formerly, Executive Vice President of Global Index and Exchange-Traded Products, NYSE Market, Inc., a subsidiary of Intercontinental Exchange (ETF/ETP listing exchange) (2013-2015).	102²	Chairman (since 2017) and Trustee (since 2015) of Clough Funds Trust; Chairman and Trustee of Clayton Street Trust (since 2016); Chairman and Trustee of Janus Detroit Street Trust (since 2016); Chairman and Trustee of Elevation ETF Trust (2016-2018); Trustee of Clough Global Equity Fund (since 2017); Trustee of Clough Global Dividend and Income Fund (since 2017); and Trustee of Clough Global Opportunities Fund (since 2017).

255

	Trustees and Officers of the Trust (unaudited)

Name, Address (Year of Birth)	Position(s) Held with Funds	Principal Occupation(s) During the Past 5 Years	Number of Funds in Trust Overseen by Trustee	Other Directorships Held by Trustees
Interested Trustee / Officers¹
Luis Berruga 605 Third Avenue, 43rd Floor New York, NY 10158 (1977)	Trustee (since 07/2018); President (since 2018)	Chief Executive Officer, GXMC (since 07/2018), Chief Financial Officer (since 2/2014) and Chief Operating Officer (9/2015 - 7/2018); Investment Banker, Jefferies (2012-2014).	102²	None.
John Belanger 605 Third Avenue, 43rd Floor New York, NY 10158 (1982)	Chief Operating Officer and Chief Financial Officer (since 12/2020)	Chief Operating Officer and Head of Portfolio Management & Portfolio Administration, GXMC (since 12/2020); Portfolio Manager (since 12/2020); Secretary of the Trust (3/2020-9/2020); Head of Product Management, GXMC (since 1/2020); Consultant to GXMC (9/2018-12/2019); Chief Operating Officer, Rex Shares, LLC (2014-2018).	N/A	N/A
Susan Lively 605 Third Avenue, 43rd Floor New York, NY 10158 (1981)	Secretary (since 9/2020)	General Counsel, GXMC (since 9/2020); Senior Corporate Counsel at Franklin Templeton (previously, Managing Director and Associate General Counsel at Legg Mason & Co., LLC) (2014-2020).	N/A	N/A
Eric Griffith³ One FreedomValley Drive Oaks, PA 19456 (1969)	Assistant Secretary (since 2/2020)	Counsel, SEI Investments (since 10/2019); Vice President and Assistant General Counsel, JPMorgan Chase & Co. (2012-2018).	N/A	N/A
Joe Costello 605 Third Avenue, 43rd Floor New York, NY 10158 (1974)	Chief Compliance Officer (since 9/2016)	Chief Compliance Officer, FlexShares Funds (2011-2015); Vice President, Northern Trust Investments (2003 - 2015).	N/A	N/A
Ronnie Riven 605 Third Avenue, 43rd Floor New York, NY 10158 (1984)	Treasurer and Principal Accounting Officer (since 12/2020)	Director of Finance, GXMC (since 2018); Director of Accounting and Finance at Barclays Center (2016-2018); Manager of External Reporting at National Grid (2013-2015).	N/A	N/A

256

	Trustees and Officers of the Trust (unaudited)

Name, Address (Year of Birth)	Position(s) Held with Funds	Principal Occupation(s) During the Past 5 Years	Number of Funds in Trust Overseen by Trustee	Other Directorships Held by Trustees
Interested Trustee / Officers¹
Eric Olsen³ One FreedomValley Drive Oaks, PA 19456 (1970)	Assistant Treasurer (since 5/2021)	Director of Accounting, SEI Investment Manager Services (March 2021 to present); formerly, Deputy Head of Fund Operations, Traditional Assets, Aberdeen Standard Investments (2013-2021).	N/A	N/A

¹	Each Trustee serves until his or her successor is duly elected or appointed and qualified.
²	As of November 30, 2021, the Trust had one hundred and two investment portfolios, eighty-nine of which were operational.
³	This officer of the Trust also serves as an officer of one or more mutual funds for which SEI Investments Company or an affiliate acts as investment manager, administrator or distributor.

257

	Notice to Shareholders (unaudited)

For shareholders that do not have a November 30, 2021 tax year end, this notice is for informational purposes only. For shareholders with a November 30, 2021 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal year ended November 30, 2021, the Funds have designated the following items with regard to distributions paid during the year.

	Return of Capital	Long-Term Capital Gain Distributions	Ordinary Income Distributions	Total Distributions	Qualifying for Corporate Dividends Received Deduction⁽¹⁾
Global X Robotics & Artificial Intelligence ETF	68.73%	0.00%	31.27%	100.00%	80.62%
Global X Internet of Things ETF	0.00%	0.00%	100.00%	100.00%	78.48%
Global X FinTech ETF	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Video Games & Esports ETF	0.00%	0.00%	100.00%	100.00%	3.09%
Global X Autonomous & Electric Vehicles ETF	0.00%	0.00%	100.00%	100.00%	99.36%
Global X Cloud Computing ETF	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Data Center REITS & Digital Infrastructure ETF	0.00%	0.00%	100.00%	100.00%	5.40%
Global X Cybersecurity ETF	0.00%	1.51%	98.49%	100.00%	74.90%
Global X Artificial Intelligence & Technology ETF	0.00%	0.00%	100.00%	100.00%	100.00%
Global X Millennial Consumer ETF	0.00%	0.00%	100.00%	100.00%	100.00%
Global X Education ETF	59.93%	0.00%	40.07%	100.00%	100.00%
Global X Cannabis ETF	0.00%	0.00%	100.00%	100.00%	0.00%
Global X Genomics & Biotechnology ETF	0.00%	0.00%	100.00%	100.00%	20.74%
Global X China Biotech Innovation ETF	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Telemedicine & Digital Health ETF	0.00%	0.00%	100.00%	100.00%	100.00%
Global X Aging Population ETF	0.00%	0.00%	100.00%	100.00%	98.87%
Global X Health & Wellness Thematic ETF	0.00%	0.00%	100.00%	100.00%	59.54%
Global X CleanTech ETF	0.00%	0.00%	100.00%	100.00%	0.00%
Global X U.S. Infrastructure Development ETF	0.00%	0.00%	100.00%	100.00%	100.00%
Global X Thematic Growth ETF	0.00%	0.00%	100.00%	100.00%	12.71%
Global X AgTech & Food Innovation ETF	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Blockchain ETF	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Clean Water ETF	0.00%	0.00%	100.00%	100.00%	32.15%
Global X Hydrogen ETF	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Solar ETF	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Wind Energy ETF	0.00%	0.00%	0.00%	0.00%	0.00%

⁽¹⁾	Qualifying dividends represent dividends which qualify for the corporate dividends received deduction and is reflected as a percentage of ordinary income distributions (the total of short term capital gain and net investment income distributions).

258

	Notice to Shareholders (unaudited)

	Qualifying Dividend Income⁽²⁾	U.S. Government Interest⁽³⁾	Interest Related Dividends⁽⁴⁾	Short Term Capital Gain Dividends⁽⁵⁾	Qualifying Business Income⁽⁶⁾	Foreign Tax Credit
Global X Robotics & Artificial Intelligence ETF	100.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Internet of Things ETF	100.00%	0.00%	0.01%	0.00%	0.00%	0.00%
Global X FinTech ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Video Games & Esports ETF	29.96%	0.00%	0.01%	100.00%	0.00%	0.00%
Global X Autonomous & Electric Vehicles ETF	100.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Cloud Computing ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Data Center REITS & Digital Infrastructure ETF	14.61%	0.00%	0.00%	0.00%	2.45%	0.00%
Global X Cybersecurity ETF	85.30%	0.01%	0.00%	100.00%	0.00%	0.00%
Global X Artificial Intelligence & Technology ETF	100.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Millennial Consumer ETF	100.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Education ETF	100.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Cannabis ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Genomics & Biotechnology ETF	23.70%	0.00%	0.00%	100.00%	0.00%	0.00%
Global X China Biotech Innovation ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Telemedicine & Digital Health ETF	100.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Aging Population ETF	100.00%	0.00%	0.16%	0.00%	0.00%	0.00%
Global X Health & Wellness Thematic ETF	100.00%	0.00%	0.01%	0.00%	0.00%	0.00%
Global X CleanTech ETF	61.36%	0.00%	0.00%	0.00%	0.00%	0.00%
Global X U.S. Infrastructure Development ETF	100.00%	0.00%	0.01%	100.00%	0.00%	0.00%
Global X Thematic Growth ETF	13.65%	0.00%	0.00%	0.00%	0.00%	0.00%
Global X AgTech & Food Innovation ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Blockchain ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Clean Water ETF	100.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Hydrogen ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Solar ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Global X Wind Energy ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

⁽²⁾

The percentage in this column represents the amount of “Qualifying Dividend Income” as created by the Jobs and Growth Relief Reconciliation Act of 2003 and it is reflected as a percentage of ordinary income distributions (the total of short term capital gain and net investment income distributions). It is the intention of each of the aforementioned Funds to designate the maximum amount permitted by law.

⁽³⁾

“U.S. Government Interest” represents the amount of interest that was derived from U.S. Government obligations and distributed during the fiscal year. Generally, interest from direct U.S. Government obligations is exempt from state income tax. However, for shareholders who are residents of California, Connecticut and New York, the statutory threshold requirements were not satisfied to permit exemption of these amounts from state income.

259

	Notice to Shareholders (unaudited)

⁽⁴⁾	The percentage in this column represents the amount of “Qualifying Interest Income” as created by the American Jobs Creation Act of 2004 and is a percentage of net investment income that is exempt from U.S. withholding tax when paid for foreign investors.
⁽⁵⁾	The percentage of this column represents the amount of “Short Term Capital Gain Dividend’’ and is reflected as a percentage of short term capital gain distribution that is exempted from U.S. withholding tax when paid to foreign investors.

The information reported herein may differ from the information and distributions taxable to the shareholders for the calendar year ending December 31, 2021. Complete information will be computed and reported in conjunction with your 2021 Form 1099- DIV.

260

	Notes

261

	Notes

262

	Notes

263

605 3rd Avenue, 43^rd Floor

New York, NY 10158

1-888-493-8631

www.globalxetfs.com

Investment Adviser and Administrator:

Global X Management Company LLC

605 3rd Avenue, 43^rd Floor

New York, NY 10158

Distributor:

SEI Investments Distribution Co.

One Freedom Valley Drive

Oaks, PA 19456

Sub-Administrator:

SEI Investments Global Funds Services

One Freedom Valley Drive

Oaks, PA 19456

Counsel for Global X Funds and the Independent Trustees:

Stradley Ronon Stevens & Young, LLP

2000 K Street, N.W.

Suite 700

Washington, DC 20006

Custodian and Transfer Agent:

Brown Brothers Harriman & Co.

40 Water Street

Boston, MA 02109

Independent Registered Public Accounting Firm:

PricewaterhouseCoopers LLP

Two Commerce Square

Suite 1800

2001 Market Street

Philadelphia, PA 19103

This information must be preceded or accompanied by a current prospectus for the Funds described.

GLX-AR-007-0600