Global X Silver Miners ETF (ticker: SIL)
Global X Gold Explorers ETF (ticker: GOEX)
Global X Copper Miners ETF (ticker: COPX)
Global X Uranium ETF (ticker: URA)
Global X Lithium & Battery Tech ETF (ticker: LIT)
Global X Fertilizers/Potash ETF (ticker: SOIL)

Semi-Annual Report
April 30, 2020

Beginning on January 1, 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), 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
 


Schedule of Investments
 
Global X Silver Miners ETF
1
Global X Gold Explorers ETF
4
Global X Copper Miners ETF
8
Global X Uranium ETF
12
Global X Lithium & Battery Tech ETF
16
Global X Fertilizers/Potash ETF
21
Statements of Assets and Liabilities
26
Statements of Operations
28
Statements of Changes in Net Assets
30
Financial Highlights
33
Notes to Financial Statements
37
Disclosure of Fund Expenses
53
Approval of Investment Advisory Agreement
55
Supplemental Information
60

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 on Form N-PORT. The Funds’ Forms N-PORT are available on the Commission’s website at https://www.sec.gov, and may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.
A description of the policies and procedures that Global X Funds uses to determine how to vote proxies relating to Fund securities, as well as information relating to how the Funds voted proxies relating to Fund securities during the most recent 12-month period ended June 30, is available (i) without charge, upon request, by calling 1-888-493-8631; and (ii) on the Commission’s website https://www.sec.gov.



 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Silver Miners ETF
 


Sector Weightings †:


† 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 Note 2 and 7 in Notes to Financial Statements for more detailed information.

   
Shares
   
Value
 
COMMON STOCK — 99.9%
 
CANADA— 15.3%
           
Industrials — 0.6%
       
Alexco Resource * (A) 
   
1,800,135
   
$
2,916,219
 
Materials — 14.6%
         
Americas Gold & Silver * (A) 
   
1,220,401
     
2,627,164
 
Bear Creek Mining * 
   
1,296,246
     
1,679,861
 
Endeavour Silver * (A) 
   
2,171,023
     
3,495,347
 
Excellon Resources * (A) 
   
1,330,765
     
507,798
 
First Majestic Silver * 
   
2,310,351
     
18,696,386
 
Fortuna Silver Mines * (A) 
   
2,523,781
     
7,595,237
 
GoGold Resources * 
   
264,600
     
131,447
 
MAG Silver * 
   
1,178,061
     
13,426,477
 
New Pacific Metals * 
   
192,700
     
865,724
 
Silvercorp Metals 
   
2,550,975
     
9,587,163
 
SilverCrest Metals * (A) 
   
1,234,012
     
8,022,699
 
             
66,635,303
 
TOTAL CANADA 
           
69,551,522
 
MEXICO— 3.0%
               
Materials — 3.0%
         
Industrias Penoles 
   
1,713,436
     
13,390,851
 
PERU— 3.5%
               
Materials — 3.5%
         
Cia de Minas Buenaventura ADR
   
1,645,235
     
12,322,810
 


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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Silver Miners ETF
 



   
Shares
   
Value
 
COMMON STOCK — continued
 
Materials — continued
         
Volcan Cia Minera SAA * 
   
39,315,110
   
$
3,365,791
 
TOTAL PERU 
           
15,688,601
 
SOUTH KOREA— 6.6%
               
Materials — 6.6%
         
Korea Zinc 
   
95,316
     
30,195,721
 
UNITED KINGDOM— 22.2%
               
Materials — 22.2%
         
Fresnillo 
   
2,471,831
     
22,192,852
 
Hochschild Mining 
   
3,988,371
     
7,007,821
 
Polymetal International 
   
3,493,300
     
71,932,546
 
TOTAL UNITED KINGDOM 
           
101,133,219
 
UNITED STATES— 49.4%
               
Materials — 49.4%
         
Coeur d’Alene Mines * 
   
3,453,491
     
14,539,197
 
Gold Resource 
   
1,002,232
     
4,139,218
 
Great Panther Mining * 
   
4,857,074
     
2,275,054
 
Hecla Mining 
   
7,537,055
     
19,822,455
 
McEwen Mining * (A) 
   
4,440,436
     
4,275,696
 
Pan American Silver 
   
1,197,175
     
25,427,997
 
SSR Mining * 
   
1,329,282
     
23,249,142
 
Wheaton Precious Metals 
   
3,472,308
     
131,114,350
 
TOTAL UNITED STATES 
           
224,843,109
 
TOTAL COMMON STOCK
               
(Cost $432,346,605) 
           
454,803,023
 
   
SHORT-TERM INVESTMENT(B)(C) — 2.0%
 
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.160%
               
(Cost $9,184,823)  
   
9,184,823
     
9,184,823
 



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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Silver Miners ETF
 


   
Face Amount
   
Value
 
REPURCHASE AGREEMENT(B) — 0.2%
 
BNP Paribas
               
0.030%, dated 04/30/20, to be repurchased on 05/01/20, repurchase price $992,152 (collateralized by U.S. Treasury Obligations, ranging in par value $239,341 - $772,061, 1.500%, 08/15/2026, with a total market value of $1,011,402)
               
(Cost $992,151)  
 
$
992,151
   
$
992,151
 
TOTAL INVESTMENTS — 102.1%
               
(Cost $442,523,579) 
         
$
464,979,997
 


Percentages are based on Net Assets of $455,253,100.

*
Non-income producing security.
(A)
This security or a partial position of this security is on loan at April 30, 2020.  The total value of securities on loan at April 30, 2020 was $9,229,946.
(B)
Security was purchased with cash collateral held from securities on loan. The total value of such securities as of April 30, 2020 was $10,176,974.
(C)
The rate reported on the Schedule of Investments is the 7-day effective yield as of April 30, 2020.

ADR — American Depositary Receipt

Cl — Class

The following is a summary of the level of inputs used as of April 30, 2020, in valuing the Fund’s investments carried at value:
   
Investments in Securities
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Common Stock
 
$
424,607,302
   
$
30,195,721
   
$
   
$
454,803,023
 
Short-Term Investment
   
9,184,823
     
     
     
9,184,823
 
Repurchase Agreement
   
     
992,151
     
     
992,151
 
Total Investments in Securities
 
$
433,792,125
   
$
31,187,872
   
$
   
$
464,979,997
 

For the period ended April 30, 2020, there were no transfers in or out of Level 3.


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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Gold Explorers ETF
 

Sector Weightings †:


† 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 Note 2 and 7 in Notes to Financial Statements for more detailed information.

   
Shares
   
Value
 
COMMON STOCK — 99.6%
 
AUSTRALIA— 24.0%
           
Materials — 24.0%
       
Aurelia Metals 
   
739,562
   
$
159,783
 
Castile Resources * 
   
75,060
     
8,108
 
Dacian Gold * 
   
95,369
     
22,478
 
Gold Road Resources * 
   
691,885
     
731,557
 
OceanaGold * 
   
526,834
     
804,124
 
Perseus Mining * 
   
918,645
     
580,386
 
Ramelius Resources 
   
538,360
     
474,064
 
Regis Resources 
   
404,451
     
1,191,571
 
Resolute Mining * (A) 
   
751,152
     
464,730
 
Saracen Mineral Holdings * 
   
601,246
     
1,708,376
 
Silver Lake Resources * 
   
675,562
     
862,465
 
SolGold * (A) 
   
788,146
     
270,900
 
St. Barbara 
   
603,232
     
1,022,882
 
Westgold Resources * 
   
288,441
     
389,014
 
TOTAL AUSTRALIA 
           
8,690,438
 
CANADA— 51.8%
               
Materials — 51.8%
         
Alacer Gold * 
   
248,641
     
1,278,157
 
Alamos Gold, Cl A 
   
256,273
     
2,068,340
 
Argonaut Gold * 
   
143,203
     
149,497
 
B2Gold 
   
406,138
     
2,058,542
 
Dundee Precious Metals 
   
121,304
     
566,804
 



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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Gold Explorers ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
 
Materials — continued
         
Eldorado Gold * 
   
134,478
   
$
1,284,800
 
Endeavour Mining * 
   
64,844
     
1,169,942
 
Guyana Goldfields * 
   
148,890
     
66,462
 
K92 Mining * (A) 
   
177,794
     
413,460
 
Kirkland Lake Gold 
   
29,419
     
1,218,740
 
Lundin Gold * 
   
72,880
     
544,127
 
New Gold * 
   
539,447
     
442,759
 
Novo Resources * (A) 
   
103,866
     
202,654
 
Osisko Mining * 
   
156,163
     
393,514
 
Premier Gold Mines * (A) 
   
152,889
     
190,430
 
Pretium Resources * 
   
154,631
     
1,183,432
 
Roxgold * 
   
303,950
     
273,543
 
Sabina Gold & Silver * 
   
220,884
     
311,698
 
SEMAFO * 
   
284,411
     
716,684
 
SSR Mining * 
   
104,206
     
1,829,860
 
Teranga Gold * 
   
69,200
     
480,282
 
Torex Gold Resources * 
   
72,285
     
1,030,970
 
Wesdome Gold Mines * 
   
115,013
     
882,709
 
TOTAL CANADA 
           
18,757,406
 
CHINA— 0.4%
               
Materials — 0.4%
         
China Gold International Resources *
   
181,717
     
88,965
 
Hengxing Gold Holding (A) 
   
208,900
     
57,396
 
TOTAL CHINA 
           
146,361
 
EGYPT— 5.1%
               
Materials — 5.1%
         
Centamin 
   
929,428
     
1,827,086
 
INDONESIA— 0.7%
               
Materials — 0.7%
         
Aneka Tambang 
   
7,171,100
     
245,866
 


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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Gold Explorers ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
 
RUSSIA— 4.5%
               
Materials — 4.5%
         
Highland Gold Mining 
   
273,757
   
$
823,205
 
Petropavlovsk * 
   
2,471,474
     
810,524
 
TOTAL RUSSIA 
           
1,633,729
 
TURKEY— 1.1%
               
Materials — 1.1%
         
Koza Altin Isletmeleri * 
   
39,292
     
403,910
 
UNITED KINGDOM— 1.0%
               
Materials — 1.0%
         
Hochschild Mining 
   
213,833
     
375,718
 
UNITED STATES— 11.0%
               
Materials — 11.0%
         
Coeur d’Alene Mines * 
   
188,202
     
792,331
 
Golden Star Resources * (A) 
   
64,206
     
150,242
 
McEwen Mining * (A) 
   
238,458
     
229,611
 
Novagold Resources * 
   
198,775
     
2,224,292
 
Seabridge Gold * (A) 
   
42,381
     
592,486
 
TOTAL UNITED STATES 
           
3,988,962
 
TOTAL COMMON STOCK
               
(Cost $31,539,623) 
           
36,069,476
 
   
SHORT-TERM INVESTMENT(B)(C) — 4.2%
 
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.160%
               
(Cost $1,531,508)  
   
1,531,508
     
1,531,508
 


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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Gold Explorers ETF
 


   
Face Amount
   
Value
 
REPURCHASE AGREEMENT(B) — 0.5%
 
BNP Paribas
               
0.030%, dated 04/30/20, to be repurchased on 05/01/20, repurchase price $164,435 (collateralized by U.S. Treasury Obligations, ranging in par value $39,909 - $128,736, 1.500%, 08/15/2026, with a total market value of $168,645)
               
(Cost $165,435)  
 
$
165,435
   
$
165,435
 
TOTAL INVESTMENTS — 104.3%
               
(Cost $33,236,566) 
         
$
37,766,419
 


Percentages are based on Net Assets of $36,218,154.

*
Non-income producing security.
(A)
This security or a partial position of this security is on loan at April 30, 2020.  The total value of securities on loan at April 30, 2020 was $1,564,333.
(B)
Security was purchased with cash collateral held from securities on loan. The total value of such securities as of April 30, 2020 was $1,696,943.
(C)
The rate reported on the Schedule of Investments is the 7-day effective yield as of April 30, 2020.

Cl — Class


The following is a summary of the level of inputs used as of April 30, 2020, in valuing the Fund’s investments carried at value:
   
Investments in Securities
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Common Stock
 
$
36,012,080
   
$
57,396
   
$
   
$
36,069,476
 
Short-Term Investment
   
1,531,508
     
     
     
1,531,508
 
Repurchase Agreement
   
     
165,435
     
     
165,435
 
Total Investments in Securities
 
$
37,543,588
   
$
222,831
   
$
   
$
37,766,419
 

For the period ended April 30, 2020, there were no transfers in or out of Level 3.



 
The accompanying notes are an integral part of the financial statements.
 
7

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Copper Miners ETF
 


Sector Weightings †:



† 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 Note 2 and 7 in Notes to Financial Statements for more detailed information.

   
Shares
   
Value
 
COMMON STOCK — 99.7%
 
AUSTRALIA— 9.1%
           
Materials — 9.1%
       
OZ Minerals 
   
395,198
   
$
2,320,859
 
Sandfire Resources 
   
365,508
     
1,079,232
 
SolGold * (A) 
   
2,136,908
     
734,495
 
TOTAL AUSTRALIA 
           
4,134,586
 
CANADA— 26.2%
               
Materials — 26.2%
         
Altius Minerals 
   
92,689
     
573,905
 
ERO Copper * 
   
144,355
     
1,654,582
 
First Quantum Minerals 
   
294,889
     
1,804,641
 
HudBay Minerals, Cl B 
   
602,813
     
1,475,621
 
Ivanhoe Mines, Cl A * 
   
998,258
     
2,098,645
 
Lundin Mining 
   
487,024
     
2,391,378
 
Northern Dynasty Minerals * 
   
851,272
     
490,673
 
Teck Resources, Cl B 
   
153,200
     
1,353,371
 
TOTAL CANADA 
           
11,842,816
 
CHINA— 17.0%
               
Materials — 17.0%
         
Jiangxi Copper, Cl H 
   
2,202,329
     
2,153,367
 
Jinchuan Group International Resources (A)
   
22,289,500
     
1,581,356
 
MMG * (A) 
   
5,102,700
     
895,170
 
Zijin Mining Group, Cl H 
   
7,339,160
     
3,029,444
 



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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Copper Miners ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
 
TOTAL CHINA 
         
$
7,659,337
 
INDIA— 3.1%
               
Materials — 3.1%
         
Vedanta ADR (A) 
   
308,464
     
1,394,257
 
JAPAN— 1.2%
               
Materials — 1.2%
         
Nittetsu Mining 
   
12,870
     
528,954
 
MEXICO— 5.0%
               
Materials — 5.0%
         
Grupo Mexico, Cl B 
   
1,046,622
     
2,259,403
 
POLAND— 5.0%
               
Materials — 5.0%
         
KGHM Polska Miedz * 
   
122,892
     
2,284,444
 
SWEDEN— 4.5%
               
Materials — 4.5%
         
Boliden (A) 
   
98,532
     
2,020,636
 
UNITED KINGDOM— 15.4%
               
Materials — 15.4%
         
Antofagasta 
   
225,374
     
2,311,164
 
Central Asia Metals 
   
391,191
     
714,486
 
Glencore * 
   
854,875
     
1,586,177
 
Kazakhstan 
   
448,429
     
2,345,089
 
TOTAL UNITED KINGDOM 
           
6,956,916
 
UNITED STATES— 13.2%
               
Materials — 13.2%
         
Freeport-McMoRan Copper & Gold *
   
264,899
     
2,339,058
 
Southern Copper 
   
75,587
     
2,452,042
 
Turquoise Hill Resources * 
   
2,289,510
     
1,156,203
 



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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Copper Miners ETF
 


   
Shares/Face
Amount
   
Value
 
COMMON STOCK — continued
 
TOTAL UNITED STATES 
         
$
5,947,303
 
TOTAL COMMON STOCK
               
(Cost $75,022,973) 
           
45,028,652
 
   
SHORT-TERM INVESTMENT(B)(C) — 6.4%
 
Fidelity Investments Money Market Government Portfolio, Cl Institutional,  0.160%
               
(Cost $2,884,318)  
   
2,884,318
     
2,884,318
 
   
REPURCHASE AGREEMENT(B) — 0.7%
 
BNP Paribas
               
0.030%, dated 04/30/20, to be repurchased on 05/01/20, repurchase price $311,566 (collateralized by U.S. Treasury Obligations, ranging in par value $75,160 - $242,451, 1.500%, 08/15/2026, with a total market value of $317,611)
               
(Cost $311,566)  
 
$
311,566
     
311,566
 
TOTAL INVESTMENTS — 106.8%
               
(Cost $78,218,857) 
         
$
48,224,536
 


Percentages are based on Net Assets of $45,165,362.

*
Non-income producing security.
(A)
This security or a partial position of this security is on loan at April 30, 2020.  The total value of securities on loan at April 30, 2020 was $2,963,473.
(B)
Security was purchased with cash collateral held from securities on loan. The total value of such securities as of April 30, 2020 was $3,195,884.
(C)
The rate reported on the Schedule of Investments is the 7-day effective yield as of April 30, 2020.

ADR — American Depositary Receipt
Cl — Class



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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Copper Miners ETF
 


The following is a summary of the level of inputs used as of April 30, 2020, in valuing the Fund’s investments carried at value:

 
Investments in Securities
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Common Stock
 
$
37,369,315
   
$
7,659,337
   
$
   
$
45,028,652
 
Short-Term Investment
   
2,884,318
     
     
     
2,884,318
 
Repurchase Agreement
   
     
311,566
     
     
311,566
 
Total Investments in Securities
 
$
40,253,633
   
$
7,970,903
   
$
   
$
48,224,536
 

For the period ended April 30, 2020, there were no transfers in or out of Level 3.


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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Uranium ETF
 


Sector Weightings †:


† 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 Note 2 and 7 in Notes to Financial Statements for more detailed information.

   
Shares
   
Value
 
COMMON STOCK — 99.7%
 
AUSTRALIA— 10.8%
           
Energy — 0.3%
       
Paladin Energy * 
   
6,009,303
   
$
413,100
 
Financials — 3.1%
         
Macquarie Group 
   
67,029
     
4,505,111
 
Materials — 7.4%
         
BHP Group 
   
292,620
     
4,931,872
 
Greenland Minerals * 
   
4,248,023
     
319,835
 
Rio Tinto 
   
118,390
     
5,502,119
 
             
10,753,826
 
TOTAL AUSTRALIA 
           
15,672,037
 
CANADA— 40.1%
               
Energy — 28.2%
         
Cameco 
   
3,328,542
     
33,166,796
 
Denison Mines * 
   
4,921,198
     
2,125,864
 
Energy Fuels * 
   
496,625
     
883,159
 
Fission Uranium * (A) 
   
1,679,143
     
380,813
 
NexGen Energy * (A) 
   
3,398,746
     
4,502,460
 
             
41,059,092
 



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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Uranium ETF
 



   
Shares
   
Value
 
COMMON STOCK — continued
 
Financials — 3.9%
         
Uranium Participation * 
   
1,626,005
   
$
5,736,293
 
Industrials — 1.5%
         
Aecon Group 
   
195,664
     
2,153,931
 
Materials — 6.5%
         
Barrick Gold 
   
369,748
     
9,509,919
 
TOTAL CANADA 
           
58,459,235
 
CHINA— 0.2%
               
Utilities — 0.2%
         
CGN Power, Cl H 
   
1,387,386
     
347,189
 
JAPAN— 10.5%
               
Industrials — 10.5%
         
ITOCHU 
   
287,440
     
5,711,975
 
Mitsubishi Heavy Industries 
   
172,410
     
4,455,557
 
Sumitomo 
   
450,450
     
5,174,899
 
TOTAL JAPAN 
           
15,342,431
 
KAZAKHSTAN— 23.1%
               
Energy — 23.1%
         
Kazakhstan GDR 
   
2,246,601
     
33,699,015
 
SOUTH AFRICA— 0.4%
               
Materials — 0.4%
         
Sibanye Stillwater * 
   
305,070
     
627,250
 
SOUTH KOREA— 12.7%
               
Industrials — 12.7%
         
Daewoo Engineering & Construction *
   
483,432
     
1,412,465
 
Doosan Heavy Industries & Construction *
   
224,515
     
736,130
 
GS Engineering & Construction
   
215,063
     
4,465,587
 
Hyundai Engineering & Construction
   
186,689
     
5,370,306
 
KEPCO Engineering & Construction
   
20,544
     
286,633
 
Samsung C&T 
   
71,351
     
6,207,235
 



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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Uranium ETF
 


   
Shares/Face
Amount
   
Value
 
COMMON STOCK — continued
 
TOTAL SOUTH KOREA 
         
$
18,478,356
 
UNITED KINGDOM— 1.1%
               
Industrials — 1.1%
         
Yellow Cake * 
   
556,168
     
1,543,352
 
UNITED STATES— 0.8%
               
Energy — 0.7%
         
Uranium Energy * (A) 
   
573,992
     
631,391
 
Ur-Energy * 
   
684,195
     
417,359
 
             
1,048,750
 
Industrials — 0.1%
         
Graham 
   
17,147
     
224,626
 
TOTAL UNITED STATES 
           
1,273,376
 
TOTAL COMMON STOCK
               
(Cost $159,826,318) 
           
145,442,241
 
   
SHORT-TERM INVESTMENT(B)(C) — 1.0%
 
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.160%
               
(Cost $1,441,607)  
   
1,441,607
     
1,441,607
 
   
REPURCHASE AGREEMENT(B) — 0.1%
 
BNP Paribas
               
0.030%, dated 04/30/20, to be repurchased on 05/01/20, repurchase price $155,724 (collateralized by U.S. Treasury Obligations, ranging in par value $37,566 - $121,179, 1.500%, 08/15/2026, with a total market value of $158,745)
               
(Cost $155,724)  
 
$
155,724
     
155,724
 
TOTAL INVESTMENTS — 100.8%
               
(Cost $161,423,649) 
         
$
147,039,572
 

Percentages are based on Net Assets of $145,806,185.

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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Uranium ETF
 

*
Non-income producing security.
(A)
This security or a partial position of this security is on loan at April 30, 2020.  The total value of securities on loan at April 30, 2020 was $1,494,738.
(B)
Security was purchased with cash collateral held from securities on loan. The total value of such securities as of April 30, 2020 was $1,597,331.
(C)
The rate reported on the Schedule of Investments is the 7-day effective yield as of April 30, 2020.

Cl — Class
GDR — Global Depositary Receipt

The following is a summary of the level of inputs used as of April 30, 2020, in valuing the Fund’s investments carried at value:
   
Investments in Securities
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Common Stock
 
$
126,616,696
   
$
18,825,545
   
$
   
$
145,442,241
 
Short-Term Investment
   
1,441,607
     
     
     
1,441,607
 
Repurchase Agreement
   
     
155,724
     
     
155,724
 
Total Investments in Securities
 
$
128,058,303
   
$
18,981,269
   
$
   
$
147,039,572
 

For the period ended April 30, 2020, there were no transfers in or out of Level 3.


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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Lithium & Battery Tech ETF
 

Sector Weightings †:


† 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 Note 2 and 7 in Notes to Financial Statements for more detailed information.

   
Shares
   
Value
 
COMMON STOCK — 99.8%
 
AUSTRALIA— 5.1%
           
Materials — 5.1%
       
Altura Mining * 
   
21,878,302
   
$
716,185
 
Argosy Minerals * (A) 
   
15,656,082
     
440,751
 
AVZ Minerals * (A)(B)(C) 
   
41,161,354
     
1,589,949
 
Galaxy Resources * (A) 
   
9,128,716
     
4,572,068
 
ioneer * (A) 
   
24,653,727
     
2,179,003
 
Neometals * (A) 
   
10,480,499
     
1,132,159
 
Orocobre * (A) 
   
4,390,331
     
6,553,505
 
Pilbara Minerals * (A) 
   
36,398,405
     
5,242,598
 
TOTAL AUSTRALIA 
           
22,426,218
 
CANADA— 1.1%
               
Materials — 1.1%
         
Lithium Americas * (A) 
   
824,135
     
2,782,817
 
Nemaska Lithium * (A)(B)(C)(D)
   
17,931,245
     
213,014
 
Neo Lithium * 
   
2,421,174
     
976,174
 
Standard Lithium * 
   
1,930,807
     
1,056,491
 
TOTAL CANADA 
           
5,028,496
 


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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Lithium & Battery Tech ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
 
CHILE— 12.2%
               
Materials — 12.2%
         
Sociedad Quimica y Minera de Chile ADR (A)
   
2,362,630
   
$
53,867,964
 
CHINA— 5.9%
               
Consumer Discretionary — 5.9%
         
BYD, Cl H (A) 
   
4,100,638
     
25,812,964
 
GERMANY— 4.6%
               
Industrials — 4.6%
         
Akasol * (A) 
   
51,360
     
2,151,462
 
Varta * (A) 
   
211,165
     
17,508,615
 
Voltabox (A) 
   
144,456
     
719,124
 
TOTAL GERMANY 
           
20,379,201
 
HONG KONG— 0.9%
               
Consumer Discretionary — 0.1%
         
FDG Electric Vehicles *(B) (C)(D)
   
28,896,569
     
494,634
 
Industrials — 0.8%
         
Honbridge Holdings * (A) 
   
76,359,200
     
3,348,936
 
TOTAL HONG KONG 
           
3,843,570
 
JAPAN— 8.7%
               
Consumer Discretionary — 4.3%
         
Panasonic 
   
2,462,320
     
19,038,165
 
Industrials — 3.9%
         
GS Yuasa 
   
1,186,868
     
17,147,903
 
Materials — 0.5%
         
W-Scope * 
   
676,300
     
2,302,083
 
TOTAL JAPAN 
           
38,488,151
 


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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Lithium & Battery Tech ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
 
SOUTH KOREA— 13.3%
               
Industrials — 0.8%
         
Vitzrocell 
   
304,149
   
$
3,482,193
 
Information Technology — 7.0%
         
L&F 
   
328,157
     
5,144,076
 
Samsung SDI 
   
108,783
     
25,534,029
 
             
30,678,105
 
Materials — 5.5%
         
LG Chemical 
   
78,658
     
24,305,254
 
TOTAL SOUTH KOREA 
           
58,465,552
 
SWITZERLAND— 0.1%
               
Industrials — 0.1%
         
Leclanche * (A) 
   
931,993
     
633,464
 
TAIWAN— 7.9%
               
Industrials — 0.8%
         
Advanced Lithium Electrochemistry Cayman *
   
2,854,598
     
935,965
 
Changs Ascending Enterprise * 
   
885,652
     
956,045
 
SYNergy ScienTech 
   
1,155,100
     
1,703,332
 
             
3,595,342
 
Information Technology — 7.1%
         
Dynapack International Technology
   
3,018,800
     
7,238,257
 
Simplo Technology 
   
2,244,580
     
23,550,484
 
STL Technology 
   
740,100
     
742,925
 
             
31,531,666
 
TOTAL TAIWAN 
           
35,127,008
 
UNITED KINGDOM— 0.2%
               
Materials — 0.2%
         
Bacanora Lithium * (A) 
   
2,189,620
     
683,566
 


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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Lithium & Battery Tech ETF
 


   
Shares/Face
Amount
   
Value
 
COMMON STOCK — continued
 
UNITED STATES— 39.8%
               
Consumer Discretionary — 13.7%
         
Tesla * 
   
77,256
   
$
60,404,921
 
Industrials — 4.5%
         
EnerSys 
   
310,978
     
18,158,005
 
Ultralife * 
   
216,155
     
1,523,893
 
             
19,681,898
 
Materials — 21.6%
         
Albemarle 
   
1,259,447
     
77,367,830
 
Livent * 
   
2,896,711
     
17,959,608
 
             
95,327,438
 
TOTAL UNITED STATES 
           
175,414,257
 
TOTAL COMMON STOCK
               
(Cost $637,061,479) 
           
440,170,411
 
   
SHORT-TERM INVESTMENT(E)(F) — 18.5%
 
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.160%
               
(Cost $81,422,404)  
   
81,422,404
     
81,422,404
 
   
REPURCHASE AGREEMENT(E) — 2.0%
 
BNP Paribas
               
0.030%, dated 04/30/20, to be repurchased on 05/01/20, repurchase price $8,795,316 (collateralized by U.S. Treasury Obligations, ranging in par value $2,121,731 - $6,844,231, 1.500%, 08/15/2026, with a total market value of $8,965,962)
               
(Cost $8,795,309)  
 
$
8,795,309
     
8,795,309
 
TOTAL INVESTMENTS — 120.3%
               
(Cost $727,279,192) 
         
$
530,388,124
 


Percentages are based on Net Assets of $440,991,674.


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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Lithium & Battery Tech ETF
 

*
Non-income producing security.
(A)
This security or a partial position of this security is on loan at April 30, 2020.  The total value of securities on loan at April 30, 2020 was $84,294,461.
(B)
Level 3 security in accordance with fair value hierarchy.
(C)
Security is fair valued using methods determined in good faith by the Fair Value Committee of the Fund. The total value of such securities as of April 30, 2020 was $2,297,597 and represents 0.5% of net assets.
(D)
Security considered illiquid. The total value of such securities as of April 30, 2020 was $707,648 and represented 0.2% of Net Assets.
(E)
Security was purchased with cash collateral held from securities on loan. The total value of such securities as of April 30, 2020 was $90,217,713.
(F)
The rate reported on the Schedule of Investments is the 7-day effective yield as of April 30, 2020.

ADR — American Depositary Receipt
Cl — Class

The following is a summary of the level of inputs used as of April 30, 2020, in valuing the Fund’s investments carried at value:
   
Investments in Securities
 
Level 1
   
Level 2
   
Level 3(1)
   
Total
 
Common Stock
 
$
350,245,361
   
$
87,627,453
   
$
2,297,597
   
$
440,170,411
 
Short-Term Investment
   
81,422,404
     
     
     
81,422,404
 
Repurchase Agreement
   
     
8,795,309
     
     
8,795,309
 
Total Investments in Securities
 
$
431,667,765
   
$
96,422,762
   
$
2,297,597
   
$
530,388,124
 

(1) A reconciliation of Level 3 investments and disclosures of significant unobservable inputs are presented when the Fund has a significant amount of Level 3 investments at the beginning and/or end of the period in relation to Net Assets. Management has concluded that Level 3 investments are not material in relation to Net Assets.
For the period ended April 30, 2020, the transfers in and out of Level 3 were due to changes in the availability of observable inputs to determine fair value. Transfers between levels are recognized at period end.


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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Fertilizers/Potash ETF
 

Sector Weightings †:



† 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 Note 2 and 7 in Notes to Financial Statements for more detailed information.

   
Shares
   
Value
 
COMMON STOCK — 99.9%
 
AUSTRALIA— 8.9%
           
Materials — 8.9%
       
Incitec Pivot 
   
188,504
   
$
294,958
 
Nufarm 
   
99,713
     
343,383
 
TOTAL AUSTRALIA 
           
638,341
 
BELGIUM— 3.0%
               
Materials — 3.0%
         
Tessenderlo Group * 
   
7,657
     
213,442
 
CANADA— 4.5%
               
Materials — 4.5%
         
Nutrien 
   
9,016
     
322,679
 
CHILE— 5.7%
               
Materials — 5.7%
         
Sociedad Quimica y Minera de Chile ADR (A)
   
17,948
     
409,214
 
CHINA— 1.2%
               
Materials — 1.2%
         
China BlueChemical 
   
572,101
     
85,605
 
GERMANY— 3.3%
               
Materials — 3.3%
         
K+S (A)
   
35,147
     
236,754
 


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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Fertilizers/Potash ETF
 



   
Shares
   
Value
 
COMMON STOCK — continued
 
ISRAEL— 6.7%
               
Materials — 6.7%
         
Israel Chemicals 
   
95,109
   
$
333,480
 
The Israel Corp * 
   
1,175
     
152,338
 
TOTAL ISRAEL 
           
485,818
 
JAPAN— 1.6%
               
Materials — 1.6%
         
Taki Chemical 
   
2,346
     
116,055
 
MALAYSIA— 4.5%
               
Materials — 4.5%
         
Petronas Chemicals Group 
   
248,300
     
323,368
 
NETHERLANDS— 3.5%
               
Materials — 3.5%
         
OCI * 
   
20,938
     
253,415
 
NORWAY— 5.5%
               
Materials — 5.5%
         
Yara International (A) 
   
11,562
     
395,184
 
POLAND— 1.9%
               
Materials — 1.9%
         
Grupa Azoty * 
   
21,512
     
137,659
 
RUSSIA— 5.9%
               
Materials — 5.9%
         
PhosAgro PJSC GDR 
   
35,415
     
427,813
 
SINGAPORE— 5.1%
               
Consumer Staples — 5.1%
         
Wilmar International 
   
146,000
     
370,264
 


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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Fertilizers/Potash ETF
 


   
Shares
   
Value
 
COMMON STOCK — continued
 
SOUTH AFRICA— 0.8%
               
Materials — 0.8%
         
Omnia Holdings 
   
47,353
   
$
60,697
 
SOUTH KOREA— 0.5%
               
Materials — 0.5%
         
Namhae Chemical 
   
5,258
     
33,616
 
TAIWAN— 5.0%
               
Materials — 5.0%
         
Taiwan Fertilizer 
   
233,897
     
362,607
 
TURKEY— 2.4%
               
Industrials — 1.8%
         
Tekfen Holding * 
   
64,344
     
131,183
 
Materials — 0.6%
         
Gubre Fabrikalari 
   
19,165
     
43,871
 
TOTAL TURKEY 
           
175,054
 
UNITED STATES— 29.9%
               
Consumer Staples — 2.3%
         
Andersons 
   
9,714
     
164,847
 
Industrials — 6.0%
         
SiteOne Landscape Supply * 
   
4,859
     
430,653
 
Materials — 21.6%
         
AdvanSix * 
   
8,790
     
107,062
 
CF Industries Holdings 
   
9,585
     
263,588
 
Compass Minerals International
   
7,936
     
390,134
 
Intrepid Potash * 
   
29,801
     
28,701
 
Mosaic 
   
22,261
     
256,224
 
Rentech Escrow Shares *(B) (C)
   
7,168
     
 
Scotts Miracle-Gro, Cl A 
   
4,132
     
512,492
 
             
1,558,201
 


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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Fertilizers/Potash ETF
 


   
Shares/Face
Amount
   
Value
 
COMMON STOCK — continued
 
TOTAL UNITED STATES 
         
$
2,153,701
 
TOTAL COMMON STOCK
               
(Cost $10,095,282) 
           
7,201,286
 
   
SHORT-TERM INVESTMENT(D)(E) — 9.7%
 
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.160%
               
(Cost $700,835)  
   
700,835
     
700,835
 
   
REPURCHASE AGREEMENT(D) — 1.0%
 
BNP Paribas
               
0.030%, dated 04/30/20, to be repurchased on 05/01/20, repurchase price $75,705 (collateralized by U.S. Treasury Obligations, ranging in par value $18,263 - $58,911, 1.500%, 08/15/2026, with a total market value of $77,174)
               
(Cost $75,705)  
 
$
75,705
     
75,705
 
TOTAL INVESTMENTS — 110.6%
               
(Cost $10,871,822) 
         
$
7,977,826
 


Percentages are based on Net Assets of $7,211,260.

*
Non-income producing security.
(A)
This security or a partial position of this security is on loan at April 30, 2020.  The total value of securities on loan at April 30, 2020 was $743,636.
(B)
Level 3 security in accordance with fair value hierarchy.
(C)
Security is fair valued using methods determined in good faith by the Fair Value Committee of the Fund. The total value of such securities as of April 30, 2020 was $0 and represents 0% of net assets.
(D)
Security was purchased with cash collateral held from securities on loan. The total value of such securities as of April 30, 2020 was $776,540.
(E)
The rate reported on the Schedule of Investments is the 7-day effective yield as of April 30, 2020.



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

 
 
 
Schedule of Investments

April 30, 2020 (Unaudited)
 
Global X Fertilizers/Potash ETF
 


ADR — American Depositary Receipt
Cl — Class
GDR — Global Depositary Receipt
PJSC — Public Joint Stock Company

The following is a summary of the level of inputs used as of April 30, 2020, in valuing the Fund’s investments carried at value:
   
Investments in Securities
 
Level 1
   
Level 2
   
Level 3(1)
   
Total
 
Common Stock
 
$
7,082,065
   
$
119,221
   
$
(2) 
 
$
7,201,286
 
Short-Term Investment
   
700,835
     
     
     
700,835
 
Repurchase Agreement
   
     
75,705
     
     
75,705
 
Total Investments in Securities
 
$
7,782,900
   
$
194,926
   
$
   
$
7,977,826
 

(1) A reconciliation of Level 3 investments and disclosures of significant unobservable inputs are presented when the Fund has a significant amount of Level 3 investments at the beginning and/or end of the period in relation to Net Assets. Management has concluded that Level 3 investments are not material in relation to Net Assets.
(2) Amounts designated as “—“ are $0 or have been rounded to $0.
For the period ended April 30, 2020, there were no transfers in or out of Level 3.


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


 
 
Statements of Assets and Liabilities

April 30, 2020 (Unaudited)


   
Global X Silver Miners ETF
   
Global X Gold Explorers ETF
   
Global X Copper Miners ETF
 
Assets:
                 
Cost of Investments
 
$
441,531,428
   
$
33,071,131
   
$
77,907,291
 
Cost of Repurchase Agreement
   
992,151
     
165,435
     
311,566
 
Cost of Foreign Currency
   
2,558
     
2
     
4,798
 
Investments, at Value
 
$
463,987,846
*
 
$
37,600,984
*
 
$
47,912,970
*
Repurchase Agreement, at Value
   
992,151
     
165,435
     
311,566
 
Cash
   
268,860
     
82,481
     
 
Foreign Currency, at Value
   
2,226
     
2
     
4,862
 
Receivable for Investment Securities Sold
   
7,102,333
     
11,110
     
 
Dividend and Interest Receivable
   
378,804
     
73,742
     
146,179
 
Reclaim Receivable
   
60,780
     
624
     
10,592
 
Unrealized Appreciation on Spot Contracts
   
971
     
     
 
Total Assets
   
472,793,971
     
37,934,378
     
48,386,169
 
Liabilities:
                       
Obligation to Return Securities Lending Collateral
   
10,176,974
     
1,696,943
     
3,195,884
 
Payable for Investment Securities Purchased
   
7,137,086
     
     
 
Payable due to Investment Adviser
   
226,811
     
19,256
     
21,790
 
Unrealized Depreciation on Spot Contracts
   
     
25
     
 
Cash Overdraft
   
     
     
3,133
 
Total Liabilities
   
17,540,871
     
1,716,224
     
3,220,807
 
Net Assets
 
$
455,253,100
   
$
36,218,154
   
$
45,165,362
 
Net Assets Consist of:
                       
Paid-in Capital
 
$
778,937,012
   
$
95,853,200
   
$
113,152,529
 
Total Distributable Loss
   
(323,683,912
)
   
(59,635,046
)
   
(67,987,167
)
Net Assets
 
$
455,253,100
   
$
36,218,154
   
$
45,165,362
 
Outstanding Shares of Beneficial Interest
                       
(unlimited authorization — no par value)
   
14,597,318
     
1,362,054
     
3,099,374
 
Net Asset Value, Offering and Redemption Price Per Share
 
$
31.19
   
$
26.59
   
$
14.57
 
*Includes Market Value of Securities on Loan
 
$
9,229,946
   
$
1,564,333
   
$
2,963,473
 


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


 
 
Statements of Assets and Liabilities

April 30, 2020 (Unaudited)



   
Global X Uranium ETF
   
Global X Lithium & Battery Tech ETF
   
Global X Fertilizers/Potash ETF
 
Assets:
                 
Cost of Investments
 
$
161,267,925
   
$
718,483,883
   
$
10,796,117
 
Cost of Repurchase Agreement
   
155,724
     
8,795,309
     
75,705
 
Cost of Foreign Currency
   
2,885
     
3,399
     
4,535
 
Investments, at Value
 
$
146,883,848
*
 
$
521,592,815
*
 
$
7,902,121
*
Repurchase Agreement, at Value
   
155,724
     
8,795,309
     
75,705
 
Cash
   
102,530
     
171,407
     
 
Foreign Currency, at Value
   
3,041
     
3,431
     
4,512
 
Dividend and Interest Receivable
   
334,309
     
1,382,670
     
4,076
 
Reclaim Receivable
   
     
     
6,582
 
Unrealized Appreciation on Spot Contracts
   
     
     
18
 
Total Assets
   
147,479,452
     
531,945,632
     
7,993,014
 
Liabilities:
                       
Obligation to Return Securities Lending Collateral
   
1,597,331
     
90,217,713
     
776,540
 
Payable due to Investment Adviser
   
75,936
     
248,978
     
3,819
 
Payable for Investment Securities Purchased
   
     
487,267
     
 
Cash Overdraft
   
     
     
1,395
 
Total Liabilities
   
1,673,267
     
90,953,958
     
781,754
 
Net Assets
 
$
145,806,185
   
$
440,991,674
   
$
7,211,260
 
Net Assets Consist of:
                       
Paid-in Capital
 
$
641,765,462
   
$
750,223,991
   
$
20,288,398
 
Total Distributable Loss
   
(495,959,277
)
   
(309,232,317
)
   
(13,077,138
)
Net Assets
 
$
145,806,185
   
$
440,991,674
   
$
7,211,260
 
Outstanding Shares of Beneficial Interest
                       
(unlimited authorization — no par value)
   
13,581,666
     
17,324,628
     
1,050,000
 
Net Asset Value, Offering and Redemption Price Per Share
 
$
10.74
   
$
25.45
   
$
6.87
 
*Includes Market Value of Securities on Loan
 
$
1,494,738
   
$
84,294,461
   
$
743,636
 


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


 
 
Statements of Operations

For the period ended April 30, 2020 (Unaudited)


   
Global X Silver Miners ETF
   
Global X Gold Explorers ETF
   
Global X Copper Miners ETF
 
Investment Income:
                 
Dividend Income
 
$
3,996,360
   
$
162,288
   
$
547,739
 
Interest Income
   
4,759
     
246
     
313
 
Security Lending Income
   
439,986
     
34,761
     
11,990
 
Less: Foreign Taxes Withheld
   
(430,664
)
   
(4,738
)
   
(22,777
)
Total Investment Income
   
4,010,441
     
192,557
     
537,265
 
Supervision and Administration Fees(1)
   
1,596,789
     
129,507
     
200,280
 
Custodian Fees(2)
   
2,351
     
24
     
106
 
Total Expenses
   
1,599,140
     
129,531
     
200,386
 
Net Investment Income
   
2,411,301
     
63,026
     
336,879
 
Net Realized Gain (Loss) on:
                       
Investments(3)
   
10,742,371
     
2,336,233
     
(5,626,687
)
Foreign Currency Transactions
   
(33,620
)
   
2,027
     
(916
)
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions
   
10,708,751
     
2,338,260
     
(5,627,603
)
Net Change in Unrealized Appreciation (Depreciation) on:
                       
Investments
   
(2,598,121
)
   
(352,356
)
   
(11,853,705
)
Foreign Currency Translations
   
(18,716
)
   
175
     
482
 
Net Change in Unrealized Depreciation on Investments and Foreign Currency Translations
   
(2,616,837
)
   
(352,181
)
   
(11,853,223
)
Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Transactions and Translations
   
8,091,914
     
1,986,079
     
(17,480,826
)
Net Increase (Decrease) in Net Assets Resulting from Operations
 
$
10,503,215
   
$
2,049,105
   
$
(17,143,947
)


(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.
 
28


 
 
Statements of Operations

For the period ended April 30, 2020 (Unaudited)


   
Global X Uranium ETF
   
Global X Lithium & Battery Tech ETF
   
Global X Fertilizers/Potash ETF
 
Investment Income:
                 
Dividend Income
 
$
1,986,750
   
$
3,494,056
   
$
87,075
 
Interest Income