UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________
FORM N-CSRS
________
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act file number 811-22209
Global X Funds
(Exact name of registrant as specified in charter)
________
605 Third Avenue, 43rd floor
New York, NY 10158
(Address of principal executive offices) (Zip code)
Luis Berruga
Global X Management Company LLC
605 Third Avenue, 43rd floor
New York, NY 10158
(Name and address of agent for service)
With a copy to:
Global X Management Company LLC 605 Third Avenue, 43rd floor New York, NY 10158 | Eric S. Purple, Esq. Stradley Ronon Stevens & Young, LLP 2000 K Street, N.W., Suite 700 Washington, DC 20006-1871 |
Registrant’s telephone number, including area code: (212) 644-6440
Date of fiscal year end: November 30, 2021
Date of reporting period: May 31, 2021
Item 1. Reports to Stockholders.
A copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Investment Company Act of 1940, as amended (the “Act”) (17 CFR § 270.30e-1), is attached hereto.
Global X Emerging Markets Bond ETF (ticker: EMBD) |
Global X China Innovation ETF (ticker: KEJI) |
Semi-Annual Report
May 31, 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
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 schedule 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 report on Form N-PORT. The Funds’ Forms N-PORT is 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 Fund 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.
May 31, 2021 (Unaudited)
Sector Weightings †:
Face Amount | Value | |||||||
SOVEREIGN DEBT — 55.9% | ||||||||
Angola — 0.3% | ||||||||
Angolan Government International Bond | ||||||||
8.250%, 05/09/28 | $ | 400,000 | $ | 415,040 | ||||
Argentina — 1.4% | ||||||||
Argentine Republic Government International Bond | ||||||||
0.125%, 2.500%, 07/09/21, 07/09/41 (A) | 1,400,000 | 520,800 | ||||||
0.125%, 2.000%, 07/09/21, 01/09/38 (A) | 1,400,000 | 551,152 | ||||||
0.125%, 1.125%, 07/09/21, 07/09/35 (A) | 1,900,000 | 627,019 | ||||||
1,698,971 | ||||||||
Azerbaijan — 0.5% | ||||||||
Republic of Azerbaijan International Bond | ||||||||
4.750%, 03/18/24 | 200,000 | 217,050 | ||||||
3.500%, 09/01/32 | 400,000 | 407,000 | ||||||
624,050 | ||||||||
Bahrain — 0.4% | ||||||||
Bahrain Government International Bond | ||||||||
7.000%, 10/12/28 | 200,000 | 223,775 |
1
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Emerging Markets Bond ETF
Face Amount | Value | |||||||
SOVEREIGN DEBT — continued | ||||||||
Bahrain — continued | ||||||||
Bahrain Government International Bond MTN | ||||||||
5.250%, 01/25/33 | $ | 300,000 | $ | 288,810 | ||||
512,585 | ||||||||
Brazil — 0.2% | ||||||||
Brazilian Government International Bond | ||||||||
2.875%, 06/06/25 | 200,000 | 205,976 | ||||||
Chile — 1.0% | ||||||||
Chile Government International Bond | ||||||||
3.500%, 01/25/50 | 600,000 | 605,730 | ||||||
3.240%, 02/06/28 | 200,000 | 216,608 | ||||||
2.450%, 01/31/31 | 400,000 | 402,556 | ||||||
1,224,894 | ||||||||
Colombia — 2.3% | ||||||||
Colombia Government International Bond | ||||||||
5.200%, 05/15/49 | 200,000 | 213,014 | ||||||
4.500%, 01/28/26 | 200,000 | 218,316 | ||||||
4.125%, 05/15/51 | 400,000 | 366,576 | ||||||
4.125%, 02/22/42 | 400,000 | 381,600 | ||||||
3.250%, 04/22/32 | 400,000 | 386,108 | ||||||
3.125%, 04/15/31 | 1,000,000 | 965,640 | ||||||
3.000%, 01/30/30 | 200,000 | 193,416 | ||||||
2,724,670 | ||||||||
Croatia — 0.6% | ||||||||
Croatia Government International Bond | ||||||||
5.500%, 04/04/23 | 600,000 | 654,750 | ||||||
Dominican Republic — 1.3% | ||||||||
Dominican Republic International Bond | ||||||||
6.850%, 01/27/45 | 200,000 | 226,200 | ||||||
6.500%, 02/15/48 | 400,000 | 436,400 | ||||||
6.000%, 07/19/28 | 200,000 | 227,900 | ||||||
5.950%, 01/25/27 | 400,000 | 451,560 | ||||||
5.500%, 01/27/25 | 200,000 | 220,140 | ||||||
1,562,200 | ||||||||
2
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Emerging Markets Bond ETF
Face Amount | Value | |||||||
SOVEREIGN DEBT — continued | ||||||||
Ecuador — 0.8% | ||||||||
Ecuador Government International Bond | ||||||||
0.500%, 1.000%, 07/31/21, 07/31/35 (A) | $ | 400,000 | $ | 280,000 | ||||
0.500%, 0.500%, 07/31/21, 07/31/40 (A) | 1,000,000 | 630,000 | ||||||
910,000 | ||||||||
Egypt — 3.9% | ||||||||
Egypt Government International Bond | ||||||||
8.875%, 05/29/50 | 700,000 | 767,815 | ||||||
8.700%, 03/01/49 | 600,000 | 644,520 | ||||||
7.903%, 02/21/48 | 400,000 | 404,000 | ||||||
7.625%, 05/29/32 | 200,000 | 216,258 | ||||||
7.625%, 05/29/32(B) | 600,000 | 648,775 | ||||||
6.588%, 02/21/28 | 200,000 | 214,580 | ||||||
5.875%, 06/11/25 | 200,000 | 215,000 | ||||||
Egypt Government International Bond MTN | ||||||||
7.600%, 03/01/29 | 200,000 | 222,628 | ||||||
7.500%, 01/31/27 | 200,000 | 227,524 | ||||||
7.053%, 01/15/32 | 600,000 | 626,052 | ||||||
5.875%, 02/16/31 | 400,000 | 393,451 | ||||||
4,580,603 | ||||||||
El Salvador — 0.2% | ||||||||
El Salvador Government International Bond | ||||||||
7.125%, 01/20/50(B) | 200,000 | 190,000 | ||||||
Ghana — 1.4% | ||||||||
Ghana Government International Bond | ||||||||
8.950%, 03/26/51 | 400,000 | 398,256 | ||||||
8.627%, 06/16/49 | 200,000 | 194,938 | ||||||
7.750%, 04/07/29 | 600,000 | 618,000 | ||||||
7.750%, 04/07/29(B) | 400,000 | 412,000 | ||||||
1,623,194 | ||||||||
Hungary — 1.4% | ||||||||
Hungary Government International Bond | ||||||||
7.625%, 03/29/41 | 200,000 | 324,981 | ||||||
5.750%, 11/22/23 | 200,000 | 225,638 | ||||||
5.375%, 03/25/24 | 1,000,000 | 1,133,146 | ||||||
1,683,765 | ||||||||
3
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Emerging Markets Bond ETF
Face Amount | Value | |||||||
SOVEREIGN DEBT — continued | ||||||||
India — 0.9% | ||||||||
Export-Import Bank of India | ||||||||
3.875%, 02/01/28 | $ | 800,000 | $ | 857,459 | ||||
3.375%, 08/05/26 | 200,000 | 213,621 | ||||||
1,071,080 | ||||||||
Indonesia — 1.1% | ||||||||
Indonesia Government International Bond | ||||||||
3.500%, 01/11/28 | 600,000 | 653,293 | ||||||
2.950%, 01/11/23 | 200,000 | 207,604 | ||||||
Indonesia Government International Bond MTN | ||||||||
4.750%, 01/08/26 | 200,000 | 229,307 | ||||||
Perusahaan Penerbit SBSN Indonesia III | ||||||||
4.350%, 09/10/24 | 200,000 | 220,860 | ||||||
1,311,064 | ||||||||
Ivory Coast — 1.1% | ||||||||
Ivory Coast Government International Bond | ||||||||
6.125%, 06/15/33 | 1,200,000 | 1,277,004 | ||||||
Jordan — 0.4% | ||||||||
Jordan Government International Bond | ||||||||
5.750%, 01/31/27 | 400,000 | 426,632 | ||||||
Kenya — 0.6% | ||||||||
Kenya Government International Bond | ||||||||
8.250%, 02/28/48 | 400,000 | 443,000 | ||||||
6.875%, 06/24/24 | 200,000 | 222,140 | ||||||
665,140 | ||||||||
Kuwait — 0.5% | ||||||||
Kuwait International Government Bond | ||||||||
3.500%, 03/20/27 | 400,000 | 443,771 | ||||||
2.750%, 03/20/22 | 200,000 | 203,815 | ||||||
647,586 | ||||||||
4
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Emerging Markets Bond ETF
�� | Face Amount | Value | ||||||
SOVEREIGN DEBT — continued | ||||||||
Mexico — 1.5% | ||||||||
Mexico Government International Bond | ||||||||
5.000%, 04/27/51 | $ | 600,000 | $ | 670,914 | ||||
4.750%, 04/27/32 | 600,000 | 683,700 | ||||||
3.750%, 01/11/28 | 400,000 | 436,316 | ||||||
1,790,930 | ||||||||
Morocco — 1.6% | ||||||||
Morocco Government International Bond | ||||||||
4.000%, 12/15/50 | 1,200,000 | 1,094,784 | ||||||
2.375%, 12/15/27 | 800,000 | 781,504 | ||||||
1,876,288 | ||||||||
Nigeria — 2.4% | ||||||||
Nigeria Government International Bond | ||||||||
9.248%, 01/21/49 | 200,000 | 229,800 | ||||||
8.747%, 01/21/31 | 800,000 | 914,416 | ||||||
7.625%, 11/21/25 | 400,000 | 454,600 | ||||||
Nigeria Government International Bond MTN | ||||||||
7.625%, 11/28/47 | 200,000 | 201,600 | ||||||
6.500%, 11/28/27 | 1,000,000 | 1,065,500 | ||||||
2,865,916 | ||||||||
Oman — 3.3% | ||||||||
Oman Government International Bond | ||||||||
6.750%, 01/17/48 | 400,000 | 390,536 | ||||||
6.750%, 10/28/27 | 800,000 | 894,032 | ||||||
6.250%, 01/25/31 | 600,000 | 636,106 | ||||||
5.625%, 01/17/28 | 500,000 | 524,056 | ||||||
5.375%, 03/08/27 | 400,000 | 415,686 | ||||||
4.125%, 01/17/23 | 600,000 | 616,548 | ||||||
Oman Government International Bond MTN | ||||||||
6.000%, 08/01/29 | 200,000 | 211,308 | ||||||
4.875%, 02/01/25 | 200,000 | 209,066 | ||||||
3,897,338 | ||||||||
Pakistan — 0.7% | ||||||||
Pakistan Government International Bond | ||||||||
8.250%, 04/15/24 | 600,000 | 655,500 | ||||||
6.875%, 12/05/27 | 200,000 | 208,981 | ||||||
864,481 | ||||||||
5
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Emerging Markets Bond ETF
Face Amount | Value | |||||||
SOVEREIGN DEBT — continued | ||||||||
Panama — 1.5% | ||||||||
Panama Government International Bond | ||||||||
4.500%, 05/15/47 | $ | 200,000 | $ | 223,100 | ||||
4.000%, 09/22/24 | 600,000 | 652,866 | ||||||
3.870%, 07/23/60 | 200,000 | 200,870 | ||||||
3.750%, 03/16/25 | 600,000 | 653,778 | ||||||
1,730,614 | ||||||||
Paraguay — 0.4% | ||||||||
Paraguay Government International Bond | ||||||||
5.000%, 04/15/26 | 200,000 | 226,000 | ||||||
4.950%, 04/28/31 | 200,000 | 226,602 | ||||||
452,602 | ||||||||
Peru — 1.2% | ||||||||
Peruvian Government International Bond | ||||||||
8.750%, 11/21/33 | 200,000 | 310,250 | ||||||
5.625%, 11/18/50 | 200,000 | 262,360 | ||||||
4.125%, 08/25/27 | 400,000 | 443,448 | ||||||
2.783%, 01/23/31 | 400,000 | 400,472 | ||||||
1,416,530 | ||||||||
Philippines — 0.8% | ||||||||
Philippine Government International Bond | ||||||||
6.375%, 10/23/34 | 200,000 | 281,589 | ||||||
4.200%, 01/21/24 | 400,000 | 438,556 | ||||||
3.700%, 02/02/42 | 200,000 | 212,582 | ||||||
932,727 | ||||||||
Qatar — 3.7% | ||||||||
Qatar Government International Bond | ||||||||
5.103%, 04/23/48 | 200,000 | 259,666 | ||||||
4.817%, 03/14/49 | 600,000 | 755,736 | ||||||
4.500%, 04/23/28 | 400,000 | 471,500 | ||||||
4.400%, 04/16/50 | 200,000 | 238,112 | ||||||
4.000%, 03/14/29 | 400,000 | 460,034 | ||||||
3.875%, 04/23/23 | 600,000 | 639,000 | ||||||
3.750%, 04/16/30 | 200,000 | 226,641 | ||||||
3.400%, 04/16/25 | 600,000 | 654,000 | ||||||
3.250%, 06/02/26 | 600,000 | 655,500 | ||||||
4,360,189 | ||||||||
6
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Emerging Markets Bond ETF
Face Amount | Value | |||||||
SOVEREIGN DEBT — continued | ||||||||
Romania — 0.9% | ||||||||
Romanian Government International Bond | ||||||||
4.000%, 02/14/51 | $ | 200,000 | $ | 204,816 | ||||
Romanian Government International Bond MTN | ||||||||
4.875%, 01/22/24 | 600,000 | 663,038 | ||||||
4.375%, 08/22/23 | 200,000 | 216,264 | ||||||
1,084,118 | ||||||||
Russia — 2.1% | ||||||||
Russian Foreign Bond - Eurobond | ||||||||
5.250%, 06/23/47 | 400,000 | 496,552 | ||||||
5.100%, 03/28/35 | 200,000 | 236,488 | ||||||
4.750%, 05/27/26 | 200,000 | 226,718 | ||||||
4.375%, 03/21/29 | 600,000 | 673,356 | ||||||
4.250%, 06/23/27 | 800,000 | 890,000 | ||||||
2,523,114 | ||||||||
Saudi Arabia — 1.9% | ||||||||
Saudi Government International Bond | ||||||||
5.250%, 01/16/50 | 200,000 | 254,516 | ||||||
Saudi Government International Bond MTN | ||||||||
4.500%, 04/17/30 | 400,000 | 468,240 | ||||||
4.000%, 04/17/25 | 400,000 | 441,880 | ||||||
3.750%, 01/21/55 | 200,000 | 203,790 | ||||||
3.250%, 10/26/26 | 400,000 | 432,500 | ||||||
2.900%, 10/22/25(B) | 200,000 | 213,308 | ||||||
2.250%, 02/02/33 | 200,000 | 191,329 | ||||||
2,205,563 | ||||||||
Senegal — 0.9% | ||||||||
Senegal Government International Bond | ||||||||
6.250%, 07/30/24 | 200,000 | 222,300 | ||||||
6.250%, 05/23/33 | 800,000 | 846,200 | ||||||
1,068,500 | ||||||||
7
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Emerging Markets Bond ETF
Face Amount | Value | |||||||
SOVEREIGN DEBT — continued | ||||||||
South Africa — 1.4% | ||||||||
Republic of South Africa Government International Bond | ||||||||
4.850%, 09/30/29 | $ | 200,000 | $ | 212,000 | ||||
4.850%, 09/27/27 | 800,000 | 861,152 | ||||||
4.300%, 10/12/28 | 600,000 | 619,236 | ||||||
1,692,388 | ||||||||
South Korea — 2.1% | ||||||||
Export-Import Bank of Korea | ||||||||
1.381%, VAR ICE LIBOR USD 3 Month+1.200%, 04/27/23 | 1,200,000 | 1,220,856 | ||||||
Korea Development Bank | ||||||||
0.261%, VAR United States Secured Overnight Financing Rate+0.250%, 03/09/24 | 200,000 | 199,498 | ||||||
Korea Development Bank MTN | ||||||||
0.505%, VAR ICE LIBOR USD 3 Month+0.350%, 02/18/23 | 1,000,000 | 1,001,796 | ||||||
2,422,150 | ||||||||
Sri Lanka — 0.6% | ||||||||
Sri Lanka Government International Bond | ||||||||
7.550%, 03/28/30 | 400,000 | 267,020 | ||||||
6.750%, 04/18/28 | 600,000 | 399,678 | ||||||
666,698 | ||||||||
Turkey — 2.0% | ||||||||
Turkey Government International Bond | ||||||||
7.250%, 12/23/23 | 200,000 | 214,886 | ||||||
6.625%, 02/17/45 | 400,000 | 370,392 | ||||||
6.125%, 10/24/28 | 200,000 | 200,050 | ||||||
5.600%, 11/14/24 | 400,000 | 408,000 | ||||||
5.250%, 03/13/30 | 400,000 | 372,150 | ||||||
5.125%, 02/17/28 | 600,000 | 574,596 | ||||||
3.250%, 03/23/23 | 200,000 | 198,353 | ||||||
2,338,427 | ||||||||
8
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Emerging Markets Bond ETF
Face Amount | Value | |||||||
SOVEREIGN DEBT — continued | ||||||||
Ukraine — 2.2% | ||||||||
Ukraine Government International Bond | ||||||||
7.750%, 09/01/23 | $ | 200,000 | $ | 216,180 | ||||
7.750%, 09/01/26 | 400,000 | 445,574 | ||||||
7.750%, 09/01/24 | 400,000 | 440,016 | ||||||
7.375%, 09/25/32 | 600,000 | 635,843 | ||||||
7.253%, 03/15/33 | 800,000 | 840,000 | ||||||
2,577,613 | ||||||||
United Arab Emirates — 3.2% | ||||||||
Abu Dhabi Government International Bond | ||||||||
3.125%, 10/11/27 | 200,000 | 218,300 | ||||||
3.125%, 09/30/49 | 200,000 | 197,500 | ||||||
3.125%, 05/03/26 | 600,000 | 654,720 | ||||||
2.125%, 09/30/24 | 200,000 | 209,848 | ||||||
Abu Dhabi Government International Bond MTN | ||||||||
2.500%, 04/16/25 | 800,000 | 848,000 | ||||||
0.750%, 09/02/23 | 500,000 | 504,295 | ||||||
Finance Department Government of Sharjah MTN | ||||||||
4.375%, 03/10/51 | 1,000,000 | 963,722 | ||||||
4.000%, 07/28/50 | 200,000 | 183,000 | ||||||
3,779,385 | ||||||||
Uruguay — 0.8% | ||||||||
Uruguay Government International Bond | ||||||||
4.500%, 08/14/24 | 200,000 | 217,492 | ||||||
4.375%, 01/23/31 | 200,000 | 232,342 | ||||||
4.375%, 10/27/27 | 400,000 | 458,500 | ||||||
908,334 | ||||||||
Vietnam — 0.4% | ||||||||
Vietnam Government International Bond | ||||||||
4.800%, 11/19/24 | 400,000 | 445,198 | ||||||
TOTAL SOVEREIGN DEBT | ||||||||
(Cost $65,085,688) | 65,908,307 | |||||||
9
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Emerging Markets Bond ETF
Face Amount | Value | |||||||
CORPORATE OBLIGATIONS — 38.6% | ||||||||
Azerbaijan — 0.8% | ||||||||
Energy — 0.8% | ||||||||
Southern Gas Corridor CJSC | ||||||||
6.875%, 03/24/26 | $ | 800,000 | $ | 960,000 | ||||
Bahrain — 0.6% | ||||||||
Government — 0.6% | ||||||||
CBB International Sukuk Programme WLL | ||||||||
6.250%, 11/14/24 | 600,000 | 659,250 | ||||||
Brazil — 1.9% | ||||||||
Consumer Discretionary — 1.5% | ||||||||
B2W Digital Lux Sarl | ||||||||
4.375%, 12/20/30 | 400,000 | 399,000 | ||||||
Iochpe-Maxion Austria GmbH | ||||||||
5.000%, 05/07/28 | 1,000,000 | 982,800 | ||||||
JSM Global Sarl | ||||||||
4.750%, 10/20/30 | 400,000 | 411,104 | ||||||
1,792,904 | ||||||||
Materials — 0.4% | ||||||||
Klabin Finance | ||||||||
4.875%, 09/19/27 | 400,000 | 439,500 | ||||||
Chile — 2.5% | ||||||||
Financials — 0.5% | ||||||||
Banco del Estado de Chile MTN | ||||||||
3.875%, 02/08/22 | 600,000 | 612,612 | ||||||
Materials — 1.2% | ||||||||
Nacional del Cobre de Chile | ||||||||
3.625%, 08/01/27 | 600,000 | 652,500 | ||||||
3.000%, 09/30/29 | 800,000 | 817,853 | ||||||
1,470,353 | ||||||||
Utilities — 0.8% | ||||||||
Chile Electricity PEC | ||||||||
2.931%, 01/25/28(C) | 1,200,000 | 981,000 | ||||||
10
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Emerging Markets Bond ETF
Face Amount | Value | |||||||
CORPORATE OBLIGATIONS — continued | ||||||||
China — 0.6% | ||||||||
Communication Services — 0.6% | ||||||||
Prosus | ||||||||
3.832%, 02/08/51 | $ | 800,000 | $ | 740,320 | ||||
Colombia — 0.2% | ||||||||
Energy — 0.2% | ||||||||
Ecopetrol | ||||||||
5.875%, 05/28/45 | 200,000 | 207,200 | ||||||
India — 1.3% | ||||||||
Energy — 0.4% | ||||||||
BPRL International Singapore Pte MTN | ||||||||
4.375%, 01/18/27 | 400,000 | 425,450 | ||||||
Financials — 0.2% | ||||||||
ICICI Bank MTN | ||||||||
3.800%, 12/14/27 | 200,000 | 214,525 | ||||||
Industrials — 0.2% | ||||||||
India Toll Roads MTN | ||||||||
5.500%, 08/19/24 | 250,000 | 240,125 | ||||||
Utilities — 0.5% | ||||||||
Adani Renewable Energy RJ MTN | ||||||||
4.625%, 10/15/39 | 567,000 | 576,469 | ||||||
Indonesia — 1.6% | ||||||||
Energy — 0.2% | ||||||||
Pertamina Persero MTN | ||||||||
6.450%, 05/30/44 | 200,000 | 254,201 | ||||||
Materials — 1.4% | ||||||||
Indonesia Asahan Aluminium Persero | ||||||||
6.530%, 11/15/28 | 400,000 | 485,000 | ||||||
5.450%, 05/15/30 | 600,000 | 693,000 | ||||||
4.750%, 05/15/25 | 400,000 | 439,600 | ||||||
1,617,600 | ||||||||
11
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Emerging Markets Bond ETF
Face Amount | Value | |||||||
CORPORATE OBLIGATIONS — continued | ||||||||
Kazakhstan — 1.6% | ||||||||
Energy — 1.6% | ||||||||
KazMunayGas National JSC | ||||||||
5.375%, 04/24/30 | $ | 200,000 | $ | 238,569 | ||||
4.750%, 04/19/27 | 200,000 | 228,050 | ||||||
Tengizchevroil Finance International | ||||||||
4.000%, 08/15/26 | 400,000 | 431,772 | ||||||
3.250%, 08/15/30 | 1,000,000 | 1,018,990 | ||||||
1,917,381 | ||||||||
Kuwait — 1.9% | ||||||||
Financials — 0.7% | ||||||||
Kuwait Projects SPC | ||||||||
4.229%, 10/29/26 | 800,000 | 792,000 | ||||||
Materials — 1.2% | ||||||||
Equate Petrochemical BV MTN | ||||||||
4.250%, 11/03/26 | 400,000 | 443,600 | ||||||
MEGlobal Canada ULC MTN | ||||||||
5.875%, 05/18/30 | 400,000 | 491,160 | ||||||
5.000%, 05/18/25 | 400,000 | 449,280 | ||||||
1,384,040 | ||||||||
Malaysia — 1.4% | ||||||||
Energy — 1.4% | ||||||||
Petronas Capital MTN | ||||||||
4.550%, 04/21/50 | 200,000 | 238,781 | ||||||
3.500%, 03/18/25 | 200,000 | 216,629 | ||||||
3.500%, 04/21/30 | 600,000 | 653,122 | ||||||
Petronas Energy Canada MTN | ||||||||
2.112%, 03/23/28 | 600,000 | 602,722 | ||||||
1,711,254 | ||||||||
Mexico — 6.2% | ||||||||
Consumer Staples — 0.6% | ||||||||
Grupo Bimbo | ||||||||
4.700%, 11/10/47 | 600,000 | 688,158 | ||||||
12
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Emerging Markets Bond ETF
Face Amount | Value | |||||||
CORPORATE OBLIGATIONS — continued | ||||||||
Energy — 4.3% | ||||||||
Petroleos Mexicanos | ||||||||
7.690%, 01/23/50 | $ | 800,000 | $ | 768,000 | ||||
6.875%, 10/16/25 | 200,000 | 223,380 | ||||||
6.840%, 01/23/30 | 400,000 | 414,160 | ||||||
6.500%, 03/13/27 | 600,000 | 640,626 | ||||||
6.500%, 01/23/29 | 600,000 | 615,600 | ||||||
6.490%, 01/23/27 | 600,000 | 640,050 | ||||||
6.350%, 02/12/48 | 600,000 | 508,332 | ||||||
5.950%, 01/28/31 | 800,000 | 778,000 | ||||||
Petroleos Mexicanos MTN | ||||||||
6.875%, 08/04/26 | 400,000 | 443,432 | ||||||
5,031,580 | ||||||||
Industrials — 0.2% | ||||||||
Mexico City Airport Trust | ||||||||
3.875%, 04/30/28 | 200,000 | 207,130 | ||||||
Materials — 0.9% | ||||||||
Industrias Penoles | ||||||||
4.750%, 08/06/50 | 1,000,000 | 1,045,000 | ||||||
Utilities — 0.2% | ||||||||
Comision Federal de Electricidad | ||||||||
3.348%, 02/09/31 | 200,000 | 198,002 | ||||||
Morocco — 0.8% | ||||||||
Materials — 0.8% | ||||||||
OCP | ||||||||
6.875%, 04/25/44 | 800,000 | 978,096 | ||||||
Panama — 0.7% | ||||||||
Industrials — 0.7% | ||||||||
Aeropuerto Internacional de Tocumen | ||||||||
6.000%, 11/18/48 | 788,995 | 846,946 | ||||||
Peru — 3.2% | ||||||||
Consumer Staples — 0.8% | ||||||||
InRetail Consumer | ||||||||
3.250%, 03/22/28 | 1,000,000 | 960,000 | ||||||
13
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Emerging Markets Bond ETF
Face Amount | Value | |||||||
CORPORATE OBLIGATIONS — continued | ||||||||
Energy — 1.1% | ||||||||
Petroleos del Peru | ||||||||
5.625%, 06/19/47 | $ | 600,000 | $ | 618,750 | ||||
4.750%, 06/19/32 | 600,000 | 623,400 | ||||||
1,242,150 | ||||||||
Financials — 0.4% | ||||||||
Banco BBVA Peru | ||||||||
5.250%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+2.750%, 09/22/29 | 400,000 | 414,000 | ||||||
Utilities — 0.9% | ||||||||
Kallpa Generacion | ||||||||
4.875%, 05/24/26 | 200,000 | 211,020 | ||||||
4.125%, 08/16/27 | 800,000 | 820,000 | ||||||
1,031,020 | ||||||||
Qatar — 0.9% | ||||||||
Financials — 0.9% | ||||||||
QNB Finance MTN | ||||||||
1.235%, VAR United States Secured Overnight Financing Rate+1.225%, 02/12/22 | 200,000 | 199,770 | ||||||
1.176%, VAR ICE LIBOR USD 3 Month+1.000%, 05/02/22 | 850,000 | 852,599 | ||||||
1,052,369 | ||||||||
Saudi Arabia — 2.9% | ||||||||
Energy — 2.3% | ||||||||
Saudi Arabian Oil | ||||||||
3.250%, 11/24/50 | 600,000 | 561,263 | ||||||
1.625%, 11/24/25 | 400,000 | 406,822 | ||||||
Saudi Arabian Oil MTN | ||||||||
4.250%, 04/16/39 | 200,000 | 222,183 | ||||||
3.500%, 04/16/29 | 400,000 | 432,702 | ||||||
2.875%, 04/16/24 | 800,000 | 847,930 | ||||||
2.750%, 04/16/22 | 200,000 | 204,164 | ||||||
2,675,064 | ||||||||
14
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Emerging Markets Bond ETF
Face Amount | Value | |||||||
CORPORATE OBLIGATIONS — continued | ||||||||
Utilities — 0.6% | ||||||||
Acwa Power Management And Investments One | ||||||||
5.950%, 12/15/39 | $ | 600,000 | $ | 709,440 | ||||
South Africa — 2.4% | ||||||||
Materials — 0.9% | ||||||||
Sasol Financing USA | ||||||||
6.500%, 09/27/28 | 600,000 | 676,500 | ||||||
5.500%, 03/18/31 | 400,000 | 418,080 | ||||||
1,094,580 | ||||||||
Utilities — 1.3% | ||||||||
Eskom Holdings SOC MTN | ||||||||
6.350%, 08/10/28 | 1,400,000 | 1,569,750 | ||||||
Supranational — 0.3% | ||||||||
Government — 0.3% | ||||||||
Africa Finance | ||||||||
2.875%, 04/28/28 | 400,000 | 398,800 | ||||||
Thailand — 0.3% | ||||||||
Materials — 0.3% | ||||||||
GC Treasury Center MTN | ||||||||
2.980%, 03/18/31 | 400,000 | 400,564 | ||||||
United Arab Emirates — 4.3% | ||||||||
Financials — 2.2% | ||||||||
First Abu Dhabi Bank PJSC MTN | ||||||||
1.097%, VAR ICE LIBOR USD 3 Month+0.900%, 07/08/24 | 600,000 | 604,708 | ||||||
1.012%, VAR ICE LIBOR USD 3 Month+0.850%, 08/08/23 | 1,800,000 | 1,809,396 | ||||||
MDGH - GMTN BV MTN | ||||||||
2.500%, 05/21/26 | 200,000 | 209,800 | ||||||
2,623,904 | ||||||||
Government — 1.4% | ||||||||
Sharjah Sukuk Program | ||||||||
3.234%, 10/23/29 | 400,000 | 414,008 | ||||||
2.942%, 06/10/27 | 600,000 | 620,365 |
15
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Emerging Markets Bond ETF
Face Amount | Value | |||||||
CORPORATE OBLIGATIONS — continued | ||||||||
Government — continued | ||||||||
Sharjah Sukuk Program MTN 3.854%, 04/03/26 | $ | 600,000 | $ | 648,577 | ||||
1,682,950 | ||||||||
Industrials — 0.7% | ||||||||
DP World Crescent | ||||||||
3.908%, 05/31/23 | 200,000 | 210,864 | ||||||
DP World Crescent MTN | ||||||||
4.848%, 09/26/28 | 400,000 | 453,839 | ||||||
DP World MTN | ||||||||
6.850%, 07/02/37 | 100,000 | 133,250 | ||||||
797,953 | ||||||||
United States — 2.4% | ||||||||
Financials — 2.4% | ||||||||
Goldman Sachs Group | ||||||||
0.900%, VAR ICE LIBOR USD 3 Month+0.750%, 02/23/23 | 1,000,000 | 1,009,133 | ||||||
Morgan Stanley MTN | ||||||||
1.576%, VAR ICE LIBOR USD 3 Month+1.400%, 10/24/23 | 1,000,000 | 1,016,837 | ||||||
1.382%, VAR ICE LIBOR USD 3 Month+1.220%, 05/08/24 | 800,000 | 814,129 | ||||||
2,840,099 | ||||||||
TOTAL CORPORATE OBLIGATIONS | ||||||||
(Cost $44,871,700) | 45,483,739 | |||||||
U.S. TREASURY OBLIGATIONS — 2.0% | ||||||||
U.S. Treasury Notes | ||||||||
0.375%, 11/30/25 | 400,000 | 394,422 | ||||||
0.125%, 05/31/22 | 1,000,000 | 1,000,469 | ||||||
0.125%, 02/28/23 | 1,000,000 | 999,961 | ||||||
TOTAL U.S. TREASURY OBLIGATIONS | ||||||||
(Cost $2,398,293) | 2,394,852 | |||||||
TOTAL INVESTMENTS — 96.5% | ||||||||
(Cost $112,355,681) | $ | 113,786,898 |
16
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Emerging Markets Bond ETF
Percentages are based on Net Assets of $117,961,732.
(A) | Step Bonds – Represents the current rate, the step rate, the step date and the final maturity date. |
(B) | Security exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration normally to qualified institutions. On May 31, 2021, the value of these securities amounted to $1,464,083 representing 1.2% of the net assets of the Fund. |
(C) | The rate reported on the Schedule of Investments is the effective yield at time of purchase. |
CJSC — Closed Joint Stock Company |
GMTN — Global Medium Term Note |
ICE — Intercontinental Exchange |
JSC — Joint Stock Company |
LIBOR — London Interbank Offered Rate |
MTN — Medium Term Note |
PJSC — Public Joint Stock Company |
SOC — State Owned Company |
SPC — Special Purpose Company |
ULC — Unlimited Liability Company |
USD — U.S. Dollar |
VAR – Variable Rate |
As of May 31, 2021, all of the Fund’s investments were considered Level 2, in accordance with authoritative guidance on fair value measurements and disclosure under U.S. GAAP.
For the period ended May 31, 2021, there were no transfers in or out of Level 3.
17
Sector Weightings †:
† Sector weightings percentages are based on the total market value of investments.
Shares | Value | |||||||
COMMON STOCK — 90.0% | ||||||||
CHINA— 88.6% | ||||||||
Communication Services — 8.5% | ||||||||
Baidu ADR * | 156 | $ | 30,618 | |||||
Bilibili ADR * | 829 | 88,852 | ||||||
Tencent Holdings | 3,100 | 240,244 | ||||||
359,714 | ||||||||
Consumer Discretionary — 14.5% | ||||||||
Alibaba Group Holding * | 7,300 | 195,068 | ||||||
BYD, Cl H | 6,500 | 148,818 | ||||||
Fuyao Glass Industry Group, Cl H | 8,400 | 52,815 | ||||||
Geely Automobile Holdings | 16,000 | 40,528 | ||||||
Meituan, Cl B * | 1,000 | 34,169 | ||||||
NavInfo, Cl A * | 36,600 | 76,148 | ||||||
NIO ADR * | 843 | 32,557 | ||||||
TAL Education Group ADR * | 818 | 32,695 | ||||||
612,798 | ||||||||
Consumer Staples — 2.5% | ||||||||
Tongwei, Cl A | 17,300 | 104,232 | ||||||
Financials — 3.6% | ||||||||
East Money Information, Cl A | 16,200 | 79,645 |
18
Schedule of Investments
May 31, 2021 (Unaudited)
Global X China Innovation ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Financials — continued | ||||||||
Ping An Insurance Group of China, Cl H | 6,500 | $ | 71,059 | |||||
150,704 | ||||||||
Health Care — 14.6% | ||||||||
Hangzhou Tigermed Consulting, Cl A | 2,200 | 59,348 | ||||||
Innovent Biologics * | 4,000 | 46,125 | ||||||
Jiangsu Hengrui Medicine, Cl A | 4,800 | 64,706 | ||||||
Ping An Healthcare and Technology * | 20,600 | 236,615 | ||||||
Shenzhen Mindray Bio-Medical Electronics, Cl A | 700 | 53,258 | ||||||
WuXi AppTec, Cl H | 4,920 | 101,867 | ||||||
Wuxi Biologics Cayman * | 3,500 | 51,904 | ||||||
613,823 | ||||||||
Industrials — 16.5% | ||||||||
Contemporary Amperex Technology, Cl A | 2,700 | 173,655 | ||||||
Estun Automation, Cl A * | 12,100 | 61,711 | ||||||
Han’s Laser Technology Industry Group, Cl A | 20,600 | 120,653 | ||||||
Ming Yang Smart Energy Group, Cl A | 14,300 | 34,130 | ||||||
NARI Technology, Cl A | 18,500 | 87,932 | ||||||
SF Holding, Cl A | 5,200 | 57,034 | ||||||
Shenzhen Inovance Technology, Cl A | 6,600 | 99,397 | ||||||
ZTO Express Cayman ADR * | 1,853 | 59,463 | ||||||
693,975 | ||||||||
Information Technology — 26.9% | ||||||||
Chinasoft International | 50,000 | 64,356 | ||||||
GDS Holdings ADR * | 405 | 30,464 | ||||||
GoerTek, Cl A | 12,300 | 74,474 | ||||||
Hua Hong Semiconductor * | 16,000 | 86,890 | ||||||
Iflytek | 6,000 | 58,356 | ||||||
LONGi Green Energy Technology, Cl A | 14,300 | 218,368 | ||||||
Luxshare Precision Industry, Cl A | 17,700 | 109,227 | ||||||
Sangfor Technologies, Cl A | 4,000 | 172,078 | ||||||
Will Semiconductor Shanghai, Cl A | 2,000 | 89,968 | ||||||
Wuxi Lead Intelligent Equipment, Cl A | 7,800 | 110,597 |
19
Schedule of Investments
May 31, 2021 (Unaudited)
Global X China Innovation ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Information Technology — continued | ||||||||
Xinyi Solar Holdings | 66,000 | $ | 117,178 | |||||
1,131,956 | ||||||||
Materials — 1.5% | ||||||||
Ganfeng Lithium, Cl A | 3,400 | 63,457 | ||||||
TOTAL CHINA | 3,730,659 | |||||||
HONG KONG— 1.4% | ||||||||
Health Care — 1.4% | ||||||||
Sino Biopharmaceutical | 55,000 | 60,942 | ||||||
TOTAL COMMON STOCK | ||||||||
(Cost $4,242,992) | 3,791,601 | |||||||
TOTAL INVESTMENTS — 90.0% | ||||||||
(Cost $4,242,992) | $ | 3,791,601 |
Percentages are based on Net Assets of $4,211,238.
* | Non-income producing security. |
ADR — American Depositary Receipt
Cl — Class
As of May 31, 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 period ended May 31, 2021, there were no transfers in or out of Level 3.
20
Global X Emerging Markets Bond ETF | Global X China Innovation ETF | |||||||
Assets: | ||||||||
Cost of Investments | $ | 112,355,681 | $ | 4,242,992 | ||||
Cost of Foreign Currency | — | 4,436 | ||||||
Investments, at Value | $ | 113,786,898 | $ | 3,791,601 | ||||
Cash | 4,764,296 | 374,825 | ||||||
Foreign Currency, at Value | — | 4,458 | ||||||
Dividend and Interest Receivable | 1,065,756 | 1,446 | ||||||
Unrealized Appreciation on Spot Contracts | — | 24 | ||||||
Receivable for Investment Securities Sold | — | 41,475 | ||||||
Total Assets | 119,616,950 | 4,213,829 | ||||||
Liabilities: | ||||||||
Payable for Investment Securities Purchased | 1,618,086 | — | ||||||
Payable due to Investment Adviser | 37,132 | 2,591 | ||||||
Total Liabilities | 1,655,218 | 2,591 | ||||||
Net Assets | $ | 117,961,732 | $ | 4,211,238 | ||||
Net Assets Consist of: | ||||||||
Paid-in Capital | $ | 114,852,165 | $ | 4,818,694 | ||||
Total Distributable Earnings/(Loss) | 3,109,567 | (607,456 | ) | |||||
Net Assets | $ | 117,961,732 | $ | 4,211,238 | ||||
Outstanding Shares of Beneficial Interest | ||||||||
(unlimited authorization — no par value) | 4,400,000 | 200,000 | ||||||
Net Asset Value, Offering and Redemption Price Per Share | $ | 26.81 | $ | 21.06 | ||||
21
For the period ended May 31, 2021 (Unaudited)
Global X Emerging Markets Bond ETF | Global X China Innovation ETF(1) | |||||||
Investment Income: | ||||||||
Dividend Income | $ | — | $ | 6,844 | ||||
Interest Income | 1,586,995 | — | ||||||
Less: Foreign Taxes Withheld | (11,178 | ) | (516 | ) | ||||
Total Investment Income | 1,575,817 | 6,328 | ||||||
Supervision and Administration Fees(2) | 165,555 | 7,876 | ||||||
Custodian Fees(3) | 12 | — | ||||||
Total Expenses | 165,567 | 7,876 | ||||||
Net Investment Income (Loss) | 1,410,250 | (1,548 | ) | |||||
Net Realized Gain (Loss) on: | ||||||||
Investments(4) | 1,706,608 | (152,019 | ) | |||||
Foreign Currency Transactions | — | (2,545 | ) | |||||
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions | 1,706,608 | (154,564 | ) | |||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||
Investments | (2,243,446 | ) | (451,391 | ) | ||||
Foreign Currency Translations | — | 47 | ||||||
Net Change in Unrealized Depreciation on Investments and Foreign Currency Translations | (2,243,446 | ) | (451,344 | ) | ||||
Net Realized and Unrealized Loss on Investments and Foreign Currency Transactions and Translations | (536,838 | ) | (605,908 | ) | ||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 873,412 | $ | (607,456 | ) | |||
(1) | The Fund commenced operations on February 22, 2021. |
(2) | The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.) |
(3) | See Note 2 in the Notes to Financial Statements. |
(4) | Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.) |
22
Global X Emerging Markets Bond ETF | Global X China Innovation ETF | |||||||||||
Period Ended May 31, 2021 (Unaudited) | Period Ended November 30, 2020(1) | Period Ended May 31, 2021 (Unaudited)(2) | ||||||||||
Operations: | ||||||||||||
Net Investment Income (Loss) | $ | 1,410,250 | $ | 1,102,970 | $ | (1,548 | ) | |||||
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions(3) | 1,706,608 | 822,777 | (154,564 | ) | ||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations | (2,243,446 | ) | 3,674,663 | (451,344 | ) | |||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | 873,412 | 5,600,410 | (607,456 | ) | ||||||||
Distributions | (2,267,215 | ) | (1,097,040 | ) | — | |||||||
Capital Share Transactions: | ||||||||||||
Issued | 58,984,198 | 64,235,133 | 4,818,694 | |||||||||
Redeemed | (8,367,166 | ) | — | — | ||||||||
Increase in Net Assets from Capital Share Transactions | 50,617,032 | 64,235,133 | 4,818,694 | |||||||||
Total Increase in Net Assets | 49,223,229 | 68,738,503 | 4,211,238 | |||||||||
Net Assets: | ||||||||||||
Beginning of Year/Period | 68,738,503 | — | — | |||||||||
End of Year/Period | $ | 117,961,732 | $ | 68,738,503 | $ | 4,211,238 | ||||||
Share Transactions: | ||||||||||||
Issued | 2,200,000 | 2,500,000 | 200,000 | |||||||||
Redeemed | (300,000 | ) | — | — | ||||||||
Net Increase in Shares Outstanding from Share Transactions | 1,900,000 | 2,500,000 | 200,000 | |||||||||
(1) | The Fund commenced operations on June 1, 2020. |
(2) | The Fund commenced operations on February 22, 2021. |
(3) | Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.) |
23
Page intentionally left blank.
24
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 ($) | Distribution from Capital Gains ($) | |||||||||||||||||||
Global X Emerging Markets Bond ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 27.50 | 0.45 | (0.30 | ) | 0.15 | (0.46 | ) | (0.38 | ) | |||||||||||||||
2020(1) | 25.00 | 0.49 | 2.47 | 2.96 | (0.46 | ) | — | |||||||||||||||||
Global X China Innovation ETF | ||||||||||||||||||||||||
2021 (Unaudited) (2) | 25.00 | (0.01 | ) | (3.93 | ) | (3.94 | ) | — | — |
25
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 (%)†† | ||||||||||||||||||||
(0.84 | ) | 26.81 | 0.52 | 117,962 | 0.39 | † | 3.32 | † | 57.60 | |||||||||||||||||
(0.46 | ) | 27.50 | 11.91 | 68,739 | 0.39 | † | 3.72 | † | 38.12 | |||||||||||||||||
— | 21.06 | (15.76 | ) | 4,211 | 0.75 | † | (0.15 | )† | 13.30 |
* | Per share data calculated using average shares method. |
** | Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. |
† | Annualized. |
†† | Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers. |
(1) | The Fund commenced operations on June 1, 2020. |
(2) | The Fund commenced operations on February 22, 2021. |
26
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, as an open-end management investment company. As of May 31, 2021, the Trust had ninety-nine portfolios, eighty-one of which were operational. The financial statements herein and the related notes pertain to the Global X Emerging Markets Bond ETF and the Global X China Innovation ETF (the “Funds”). The Funds have elected non-diversified status.
The Global X China Innovation ETF commenced operations on February 22, 2021. Effective April 1, 2021, the Global X China Disruption ETF changed its name to Global X China Innovation 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.
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 will be valued at their market value. The prices for foreign
27
Notes to Financial Statements (continued)
May 31, 2021 (Unaudited)
2. SIGNIFICANT ACCOUNTING POLICIES (continued)
securities are reported in local currency and converted to U.S. dollars using currency exchange rates as of reporting date. The exchange rates used by the Trust for valuation are captured as of the New York or London close each day. Prices for most securities held in the Funds are provided daily by recognized independent pricing agents. If a security price cannot be obtained from an independent, third-party pricing agent, the Funds seek to obtain a bid price from at least one independent broker.
Securities for which market prices are not “readily available” are valued in accordance with Fair Value Procedures established by the Board of Trustees (the “Board”). 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, the Funds may fair value their securities if an event that may materially affect the value of the Funds’ securities 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 Funds calculate their net asset values. A Significant Event may relate to a single issuer or to an entire market sector. Events that may be Significant Events include: government actions, natural disasters, armed conflict, acts of terrorism and significant market fluctuations. If 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 net asset values, 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 May 31, 2021, there were no 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).
28
Notes to Financial Statements (continued)
May 31, 2021 (Unaudited)
2. SIGNIFICANT ACCOUNTING POLICIES (continued)
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 net asset value 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 net asset value 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 period ended May 31, 2021, there have been no significant changes to the Funds’ fair valuation methodology.
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.
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; however, management’s conclusions regarding tax positions may be subject to review and adjustment at a later date based on factors including, but not limited to, examination by tax authorities (i.e., the last three tax year ends, as applicable), and on-going analysis of and changes to tax laws, and regulations and interpretations thereof. Any foreign tax filings that have not been made will be filed within the prescribed period.
29
Notes to Financial Statements (continued)
May 31, 2021 (Unaudited)
2. SIGNIFICANT ACCOUNTING POLICIES (continued)
As of and during the period ended May 31, 2021, the Funds did not have a liability for any unrecognized tax benefits as income tax expense on the Statements of Operations. During the 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. Amortization of premiums and accretion of discounts is included in interest income.
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 ex-dividend date.
CASH OVERDRAFT CHARGES – Per the terms of the 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.
CREATION UNITS – The Funds issue and redeem their shares (“Shares”) on a continuous basis at net asset value (“NAV”) and only in large blocks of Shares (100,000 for Global X Emerging Markets Bonds ETF and 10,000 for Global X China Innovation ETF), 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 Brown Brothers Harriman & Co. (“BBH”), the Funds’ custodian (“custodian”), 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 the Creation Unit breakdown:
Creation Unit Shares | Creation Fee | Value at May 31, 2021 | Redemption Fee | |||||||||||||
Global X Emerging Markets Bond ETF | 100,000 | $ | 500 | $ | 2,681,000 | $ | 500 | |||||||||
Global X China Innovation ETF | 10,000 | 900 | 210,600 | 900 |
30
Notes to Financial Statements (continued)
May 31, 2021 (Unaudited)
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.
The Adviser serves as the investment adviser and the administrator for the Funds. Subject to the supervision of the Board, the Adviser is responsible for managing the investment activities of the Funds and the Funds’ business affairs and other administrative matters and provides or causes to be furnished all supervisory, administrative and other services reasonably necessary for the operation of the Funds, including certain distribution services (provided pursuant to a separate distribution agreement), certain shareholder and distribution-related services (provided pursuant to a separate Rule 12b-1 Plan and related agreements) and investment advisory services (provided pursuant to a separate investment advisory agreement), under what is essentially an “all-in” fee structure. For the Adviser’s services to the Funds, under the supervision and administration agreement, the Funds pay a monthly fee to the Adviser at the annual rate (stated as a percentage of the average daily net assets of the Fund) (“Supervision and Administration Fee”). In addition, the Funds bear other expenses 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, other transaction expenses, interest expenses and extraordinary expenses (such as litigation and indemnification expenses).
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 Emerging Markets Bond ETF | 0.39 | % | ||
Global X China Innovation ETF | 0.75 | % |
Sub-Adviser - Global X Emerging Markets Bond ETF:
The Adviser has entered into a sub-advisory agreement with Mirae Asset Global Investments (USA) LLC (“Mirae USA Sub-Adviser”), an affiliate of the Adviser, under which the Adviser pays the Mirae USA Sub-Adviser for management and operational services it provides to the Fund. The Mirae USA Sub-Adviser, subject to the supervision and oversight of the Trust’s Board of Trustees and the Adviser, is responsible for the management of the Fund, and has discretion to buy or sell securities in accordance with the Fund’s investment objective.
31
Notes to Financial Statements (continued)
May 31, 2021 (Unaudited)
3. RELATED PARTY TRANSACTIONS AND SERVICE PROVIDER TRANSACTIONS (continued)
The Adviser may from time to time share certain of its profits with, or allocate other resources to, the Mirae USA Sub-Adviser. Any such payments by the Adviser to the Mirae USA Sub-Adviser will be from the Adviser’s own resources.
Sub-Adviser - Global X China Innovation ETF:
The Adviser has entered into a sub-advisory agreement with Mirae Asset Global Investments (Hong Kong) Limited (“Mirae HK Sub-Adviser”), an affiliate of the Adviser, under which the Adviser pays the Mirae HK Sub-Adviser for management and operational services it provides to the Fund. The Mirae HK Sub-Adviser, subject to the supervision and oversight of the Trust’s Board of Trustees and the Adviser, is responsible for the management of the Fund, and has discretion to buy or sell securities in accordance with the Fund’s investment objective. The Adviser may from time to time share certain of its profits with, or allocate other resources to, the Mirae HK Sub-Adviser. Any such payments by the Adviser to the Mirae HK Sub-Adviser will be from the Adviser’s own resources.
The Adviser pays each Sub-Adviser a fee (“Sub-Adviser Management Fee”) in return for providing management and operational services to the respective Fund. The Adviser will pay a monthly Sub-Adviser Management Fee to the respective Sub-Adviser at the annual rate set forth below:
Global X Emerging Markets Bond ETF:
• | 0.14% on assets for any day that total assets are greater than or equal to $50 million. |
• | 0.00% on assets for any day that total assets are less than $50 million. |
Global X China Innovation ETF:
• | 0.32% on all assets |
SEI Investments Global Funds Services (“SEIGFS”) serves as sub-administrator to the Funds. As sub-administrator, SEIGFS provides the Funds with required general administrative services, including, without limitation: office space, equipment, and personnel; clerical and general back office services; bookkeeping, internal accounting and secretarial services; the calculation of NAV; and assistance with the preparation and filing of reports, registration statements, proxy statements and other materials required to be filed or furnished by the Funds under federal and state securities laws. As compensation for these services, SEIGFS receives certain out-of-pocket costs, transaction fees and asset-based fees which are accrued daily and paid monthly by the
32
Notes to Financial Statements (continued)
May 31, 2021 (Unaudited)
3. RELATED PARTY TRANSACTIONS AND SERVICE PROVIDER TRANSACTIONS (continued)
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 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 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.
4. INVESTMENT TRANSACTIONS
For the period ended May 31, 2021, the purchases and sales of investments in securities excluding in-kind transactions, long-term U.S. Government, and short-term securities, were:
2021 | Purchases | Sales and Maturities | ||||||
Global X Emerging Markets Bond ETF | $ | 42,264,755 | $ | 43,787,611 | ||||
Global X China Innovation ETF | 4,845,299 | 450,287 |
33
Notes to Financial Statements (continued)
May 31, 2021 (Unaudited)
4. INVESTMENT TRANSACTIONS (continued)
For the period ended May 31, 2021, in-kind transactions associated with creations and redemptions were:
2021 | Purchases | Sales and Maturities | Realized Gain | |||||||||
Global X Emerging Markets Bond ETF | $ | 55,379,322 | $ | 7,890,506 | $ | 622,962 | ||||||
Global X China Innovation ETF | - | - | - |
For the period ended November 30, 2020, in-kind transactions associated with creations and redemptions were:
2020 | Purchases | Sales and Maturities | Realized Gain | |||||||||
Global X Emerging Markets Bond ETF | $ | 58,670,918 | $ | - | $ | - |
For the period ended May 31, 2021, the Global X Emerging Markets Bond ETF had purchases and sales of long-term U.S. Government securities of $1,997,984 and $1,363,336 respectively.
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 tax character of dividends and distributions declared during the period ended November 30, 2020 was as follows:
Global X Fund | Ordinary Income | Long-Term Capital Gain | Return of Capital | Totals | ||||||||||||
Global X Emerging Markets Bond ETF | ||||||||||||||||
2020 | $ | 1,097,040 | $ | – | $ | – | $ | 1,097,040 |
34
Notes to Financial Statements (continued)
May 31, 2021 (Unaudited)
5. TAX INFORMATION (continued)
As of November 30, 2020, the components of tax basis distributable earnings (accumulated losses) were as follows:
Global X Fund | ||||
Global X Emerging Markets Bond ETF | ||||
Undistributed Ordinary Income | $ | 830,660 | ||
Unrealized Appreciation on Investments and Foreign Currency | 3,672,710 | |||
Total Distributable Earnings | $ | 4,503,370 |
The Federal tax cost and aggregate gross unrealized appreciation and depreciation on investments held by the Funds at May 31, 2021 was as follows:
Global X Funds | Federal Tax Cost | Aggregated Gross Unrealized Appreciation | Aggregated Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | ||||||||||||
Global X Emerging Markets Bond ETF | $ | 112,355,681 | $ | 2,286,157 | $ | (854,940 | ) | $ | 1,431,217 | |||||||
Global X China Innovation ETF | 4,242,992 | 99,715 | (551,106 | ) | (451,391 | ) |
6. CONCENTRATION OF RISKS
The Funds invest in securities of foreign issuers in several 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.
The securities markets of emerging market countries are less liquid and subject to greater price volatility, and have a smaller market capitalization than the U.S. securities markets.
In certain countries, there may be fewer publicly traded securities and the market may be dominated by a few issuers or sectors. Issuers and securities markets in such countries are not subject to as extensive and frequent accounting, financial and other reporting requirements or as comprehensive government regulations or issuers and securities markets in the U.S. In particular, the assets and profits appearing on the financial statements of emerging market country issuers may not reflect their financial
position or results of operations in the same manner as financial statements for U.S. issuers.
position or results of operations in the same manner as financial statements for U.S. issuers.
35
Notes to Financial Statements (continued)
May 31, 2021 (Unaudited)
6. CONCENTRATION OF RISKS (continued)
Substantially less information may be publicly available about emerging market country issuers than is available about issuers in the United States. There may be significant obstacles to obtaining information necessary for investigations into or litigation against emerging market companies and shareholders may have limited legal remedies.
The Funds may be subject to taxes imposed by countries in which it invests. Such taxes are generally based on either income, gains earned or gains 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 London Interbank Offered Rate, or “LIBOR,” the offered rate for short-term Eurodollar deposits between major international banks, is used extensively in the United States and globally as a reference rate in various financing and commercial transactions. Plans are underway to phase out the use of LIBOR by the end of 2021. There remains uncertainty regarding the nature of any replacement rate and the impact of the transition from LIBOR on the financial markets generally, transactions that use LIBOR as a reference rate and financial institutions that engage in such transactions, including issuers of securities in which the Funds may invest. As such, the potential effect of a transition away from LIBOR on a Funds’ investments cannot yet be determined.
Economic conditions, such as volatile currency exchange rates and interest rates, political events, military action and other conditions may, without prior warning, lead to foreign government intervention (including intervention by the U.S. government with respect to foreign governments, economic sectors, foreign companies and related securities and interests) and the imposition of capital controls (i.e., government measures designed to limit the flow of foreign capital in and out of the domestic economy) and/or sanctions, which may also include retaliatory actions of one government against another government, such as seizure of assets. Capital controls and/or sanctions include the prohibition of, or restrictions on, the ability to transfer currency, securities or other assets. Capital controls and/or sanctions may also impact the ability of the Funds to buy, sell or otherwise transfer securities or currency, negatively impact the value and/or liquidity of such instruments, adversely affect the trading market and price for shares of the Funds, and cause the Funds to decline in value.
A more complete description of risks is included in the Funds’ Prospectus and Statement of Additional Information.
36
Notes to Financial Statements (continued)
May 31, 2021 (Unaudited)
7. LOANS OF PORTFOLIO SECURITIES
The Funds may lend portfolio securities having a market value up to one-third of the Funds’ total assets. Security loans made pursuant to a securities lending agreement are initially required to be secured by collateral equal to at least 102% for U.S.-based securities and 105% for foreign based securities. Such collateral received in connection with these loans will be cash and can be invested in repurchase agreements or U.S. Treasury obligations and is recognized in the Schedule of Investments and Statement of Assets and Liabilities. The obligation to return securities lending collateral is also recognized as a liability in the Statement 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 fails to return the securities. 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. As of May 31, 2021, the Funds had no 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. SUBSEQUENT EVENTS
The Funds have been evaluated regarding the need for additional disclosures and/or adjustments resulting from subsequent events. Based on this evaluation, no additional adjustments were required to the financial statements.
37
Notes to Financial Statements (concluded)
May 31, 2021 (Unaudited)
10. OTHER MATTER
The rapid and global spread of a highly contagious novel coronavirus respiratory disease, designated COVID-19, has resulted in extreme volatility in the financial markets and severe losses; reduced liquidity of many instruments; restrictions on international and, in some cases, local travel; significant disruptions to business operations (including business closures); strained healthcare systems; disruptions to supply chains, consumer demand and employee availability; and widespread uncertainty regarding the duration and long-term effects of this pandemic. Some sectors of the economy and individual issuers have experienced particularly large losses. In addition, the COVID-19 pandemic may result in a sustained economic downturn or a global recession, domestic and foreign political and social instability, damage to diplomatic and international trade relations and increased volatility and/or decreased liquidity in the securities markets. The COVID-19 pandemic could adversely affect the value and liquidity of the Funds’ investments and negatively impact Funds performance. In addition, the outbreak of COVID-19, and measures taken to mitigate its effects, could result in disruptions to the services provided to the Funds by their service providers.
38
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 (December 1, 2020 to May 31, 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.
39
Disclosure of Fund Expenses (Unaudited)
Beginning Account Value 12/1/2020 | Ending Account Value 5/31/2021 | Annualized Expense Ratios | Expenses Paid During Period(1) | |||||||||||||
Global X Emerging Markets Bond ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,004.80 | 0.39 | % | $ | 1.95 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,022.99 | 0.39 | 1.97 | ||||||||||||
Global X China Innovation ETF* | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 842.40 | 0.75 | % | $ | 1.86 | (2) | |||||||
Hypothetical 5% Return | 1,000.00 | 1,021.19 | 0.75 | 3.78 |
(1) | Expenses are equal to the Fund’s annualized expense ratio multiplied by the average account value over the period, multiplied by 182/365 (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 98/365 (to reflect the period from inception to date). |
* | The Fund commenced operations on February 22, 2021. |
40
Pursuant to Rule 22e-4 under the 1940 Act, the Funds’ investment adviser has adopted, and the Board has approved, a liquidity risk management program (the “Program”) to govern the Funds’ approach to managing liquidity risk. The Program is overseen by the Funds’ Liquidity Risk Management Committee (the “Committee”), and the Program’s principal objectives include assessing, managing and periodically reviewing each Fund’s liquidity risk, based on factors specific to the circumstances of the Funds.
At a meeting of the Board held on May 21, 2021, the Trustees received a report from the Committee addressing the operations of the Program and assessing its adequacy and effectiveness of implementation for the period from January 1, 2020 through December 31, 2020. The Committee’s report noted that the Committee had determined that the Program is reasonably designed to assess and manage each Fund’s Liquidity Risk and operated adequately and effectively to manage each Fund’s Liquidity Risk for the period covered by the report. The Committee’s report noted that during the period covered by the report, there were no liquidity events that impacted the Funds or their ability to timely meet redemptions without dilution to existing shareholders. The Committee’s report further noted that no material changes have been made to the Program since its implementation.
There can be no assurance that the Program will achieve its objectives in the future. Please refer to the prospectus for more information regarding a Fund’s exposure to liquidity risk and other principal risks to which an investment in the Funds may be subject.
41
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 November 11, 20201 (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 (the “New Investment Advisory Agreement”) for the Global X China Innovation ETF (the “New Fund”) and (ii) the initial Supervision and Administration Agreement between the Trust (the “New Supervision and Administration Agreement”), on behalf of the New Fund, and Global X Management; and (iii) the Sub-Advisory Agreement between Global X Management on behalf of the New Fund and Mirae Asset Global Investments (Hong Kong) Limited (the “Sub-Adviser”) (the “New Sub-Advisory Agreement”). The New Advisory Agreement and New Supervision and Administration Agreement are referred to collectively as the “New Fund Agreements.”
In advance of the Board meeting, the Board (including the Trust’s Independent Trustees) and the Independent Trustees’ independent legal counsel requested (in writing) detailed information from Global X Management and the Sub-Adviser in connection with the Board’s consideration of the New Fund Agreements and the Sub-Advisory Agreement and received and reviewed written responses from Global X Management and the Sub-Adviser, respectively, as well as supporting materials relating to those requests for information. In the course of their consideration of the New Fund Agreements, the Trust’s Independent Trustees were advised by their independent legal counsel and, in addition to meetings with management of Global X Management, the Independent Trustees met separately in executive sessions with their counsel.
NEW FUND AGREEMENTS
In determining to approve the New Fund Agreements for the New Fund, the Board considered a variety of factors, including the factors discussed in greater detail below.
1 This meeting was held via videoconference in reliance on an exemptive order issued by the Securities and Exchange Commission on March 25, 2020. Reliance on the exemptive order is necessary and appropriate due to circumstances related to current or potential effects of COVID-19. All Trustees participating in the telephonic meeting were able to hear each other simultaneously during the meeting. Reliance on the exemptive order requires Trustees, including a majority of the Independent Trustees, to ratify actions taken pursuant to the exemptive order by vote cast at the next in-person meeting.
42
Approval of Investment Advisory Agreement and Sub-Advisory Agreement (unaudited)
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 Fund in accordance with the New Fund Agreements; |
• | Global X Management’s key personnel and the portfolio managers who would provide investment advisory, supervision and administrative services to the New Fund; |
• | Global X Management’s responsibilities under the New Fund Agreements to, among other things, (i) manage the investment operations of the New Fund and the composition of the New Fund’s assets, including the purchase, retention and disposition of its holdings, (ii) provide quarterly reports to the Trust’s officers and the Board and other reports as the Board deems necessary or appropriate, (iii) vote proxies, exercise consents, and exercise all other rights appertaining to securities and assets held by the New Fund, (iv) select broker-dealers to execute portfolio transactions for the New Fund when necessary, (v) assist in the preparation and filing of reports and proxy statements (if any) to the shareholders of the New Fund, and the periodic updating of the registration statements, prospectuses, statements of additional information, and other reports and documents for the New Fund that are required to be filed by the Trust with the U.S. Securities and Exchange Commission (“SEC”) and other regulatory or governmental bodies, and (vi) monitor anticipated purchases and redemptions of the shares (including Creation Units) of the New Fund by shareholders and new investors; |
• | the nature, extent and quality of all of the services (including advisory, administrative and compliance services) that are proposed to be provided by Global X Management or made available to the New Fund; and |
• | the quality of Global X Management’s resources and personnel that would be made available to the New Fund, including Global X Management’s experience and the professional qualifications of Global X Management’s key personnel. |
Based on these considerations, the Board concluded, at the New Fund Board Meeting, that it was satisfied with the nature, extent and quality of the services proposed to be provided to the New Fund by Global X Management.
Performance
The Board determined that, because the New Fund had not yet begun investment operations as of the dates of the New Fund Board Meeting, meaningful data relating to the investment performance of the New Fund was not available and, therefore, could not be a factor in approving the New Fund Agreements.
43
Approval of Investment Advisory Agreement and Sub-Advisory Agreement (unaudited)
Cost of Services and Profitability
With respect to this factor, the Board considered:
• | Global X Management’s expected costs to provide investment management, supervision and administrative and related services to the New Fund; |
• | The management fee (including the proposed investment advisory fee) (“Management Fee”) that was proposed to be borne by the New Fund under the New Fund Agreement for the various investment advisory, supervisory and administrative services that the New Fund requires under a unitary fee structure (including the types of fees and expenses that are not included within the unitary fee and would be borne by the New Fund); and |
• | the expected profitability to Global X Management, if any, from all of the services proposed to be provided to the New Fund by Global X Management and all aspects of the relationship between Global X Management and the New Fund. |
Based on these considerations, the Board concluded that the proposed Management Fee to be paid by the New Fund to Global X Management, in light of the nature, extent and quality of the services to be provided, was reasonable and in the best interests of the New Fund’s shareholders.
Comparison of Fees and Services
With respect to this factor, the Board considered:
• | comparative information with respect to the proposed Management Fee to be paid to Global X Management by the New Fund. In connection with this consideration, Global X Management provided the Board with comparative expense data for the New Fund, including fees and expenses paid by unaffiliated similar specialized and/or focused ETFs, and/or other similar registered funds. The Board considered Global X Management’s detailed explanation of the proposed fee structure of the 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 Fund) and the expected total expense ratio for the New Fund. In this regard, the Board took into consideration that the purpose of adopting a unitary Management Fee structure for the New Fund was to create a simple, all-inclusive fee that would provide a level of predictability with respect to the overall expense ratio (i.e., the total fee) of the New Fund and that the proposed Management Fee for the New Fund was set at a competitive level to make the New Fund viable in the marketplace; and |
44
Approval of Investment Advisory Agreement and Sub-Advisory Agreement (unaudited)
• | that, under the proposed unified Management Fee structure, Global X Management would be responsible for most ordinary expenses of the New Fund, including the costs of various third-party services required by the New Fund, including investment advisory, sub-advisory, administrative, audit, certain custody, portfolio accounting, legal, transfer agency and printing costs, but that the New Fund would bear other expenses not covered under the proposed all-inclusive Management Fee, such as taxes, brokerage fees, commissions, and other transaction expenses, interest expenses, and extraordinary expenses. |
Based on these considerations, the Board concluded, at the New Fund Board Meeting, that the services to be received and the fees to be charged under the New Fund Agreements were reasonable on a comparative basis.
Economies of Scale
With respect to this factor, the Board considered:
• | the extent to which economies of scale would be realized as the New Fund grows and whether the proposed unitary Management Fee for the New Fund reflected these economies of scale; |
• | the significant investment of time, personnel and other resources that Global X Management intends to make in the New Fund in order to seek to assure that the New Fund is attractive to investors; and |
• | that the proposed unitary Management Fee would provide a high level of certainty as to the total level of expenses for the New Fund and its shareholders. |
Based on these considerations, the Board concluded, at the New Fund Board Meeting, that the proposed unitary Management Fee for the New Fund appropriately addressed economies of scale.
Other Benefits
In considering 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 Fund. As a result, the Board concluded that, in the case of the New Fund, in the exercise of the Board’s business judgement, all information the Board considered supported approval of the New Fund Agreements.
NEW SUB-ADVISORY AGREEMENT
In determining to approve the New Sub-Advisory Agreement for the New Fund, the Board considered a variety of factors, including the factors discussed in greater detail below.
45
Approval of Investment Advisory Agreement and Sub-Advisory Agreement (unaudited)
Nature, Extent, and Quality of Services
With respect to this factor, the Board considered:
• | the terms of the New Sub-Advisory Agreement and the range of services that are to be provided to the New Fund by the Sub-Adviser in accordance with the New Sub-Advisory Agreement; |
• | the Sub-Adviser’s key personnel and the co-portfolio managers who would provide investment advisory services to the New Fund; |
• | the Sub-Adviser’s responsibilities under the New Sub-Advisory Agreement, among other things, to: (i) invest and reinvest the assets of the New Fund, (ii) provide the Trust, Global X Management, and their respective officers and Trustees with such periodic reports concerning the obligations the Sub-Adviser has assumed under the New Sub-Advisory Agreement as the Trust, the Board, and Global X Management may from time to time reasonably request, (iii) review all proxy solicitation materials and vote (or abstain from voting) and handle all proxies solicited by or with respect to the issuers of securities in which the assets of the New Fund may be invested in compliance with the proxy voting procedures of the Trust then in effect, (iv) select broker and dealers to execute portfolio transactions for the New Fund and select the markets on or in which the transactions will be executed, and (v) assist Global X Management and the New Fund by providing certain operational services to the Fund including, without limitation, the following: (A) the preparation of tax returns; (B) the preparation and submission of reports to existing shareholders; (C) the periodic updating of the prospectus and statement of additional information for the New Fund; and (D) the preparation of reports to be filed with the SEC and other regulatory authorities; |
• | the nature, extent and quality of the services (including advisory and compliance services) to be provided by the Sub-Advisor or made available to the New Fund, and the adequacy of the Sub-Adviser’s personnel and resources that would be made available to the New Fund; and |
• | the Sub-Adviser’s experience and the professional qualifications of the Sub-Adviser’s key personnel. |
46
Approval of Investment Advisory Agreement and Sub-Advisory Agreement (unaudited)
Performance
The Board noted that the New Fund was non-operational and, consequently, no performance data was available for the New Fund. However, the Board took account of the fact that the Sub-Adviser has managed other funds with investment strategies similar to the investment strategies that would be utilized for the New Fund.
Cost of Services and Profitability
The Board considered the Sub-Adviser’s anticipated cost to provide investment management services to the New Fund. In this regard, the Board considered the sub-advisory fee to be paid to the Sub-Adviser (from the Management Fee to be borne by the New Fund under the New Fund Agreements) for the various investment advisory services that the New Fund requires.
In addition, the Board considered the expected profitability to the Sub-Advisor from the services to be provided to the New Fund by the Sub-Adviser and all aspects of the Sub-Adviser’s relationship with the New Fund. The Board considered that the Sub-Adviser represented that its sub-advisory fee will appropriately compensate the Sub-Adviser for the services (the implementation of the investment strategy and managing the New Fund’s investment portfolio) that it will provide to the Fund. The Trustees noted that the Sub-Adviser indicated that it expected earnings from its relationship with the New Fund to be accretive to its profitability.
To assist the Trustees in these considerations, the Sub-Adviser provided the Board with financial information regarding the services to be provided to the New Fund and discussed with the Board its expected profitability with respect to the New Fund.
Comparison of Fees and Services
With respect to this factor, the Board considered:
• | comparative information with respect to the sub-advisory fee to be paid to the Sub-Adviser by Global X Management (from the Management Fee paid to the Adviser by the New Fund). To assist the Trustees in these considerations, the Sub-Adviser provided the Board with comparative expense data for the New Fund, including management fees paid by unaffiliated comparable specialized and/or focused ETFs and/or other comparable investment funds; and |
• | the proposed structure of the sub-advisory fee and the proposed total expense ratio for the New Fund. |
47
Approval of Investment Advisory Agreement and Sub-Advisory Agreement (unaudited)
Economies of Scale
With respect to this factor, the Board considered:
• | the extent to which economies of scale would be realized as the New Fund grows and whether the sub-advisory fee for the New Fund reflected these economies of scale, and noted that the Sub-Adviser represented that it does not expect to experience any economies of scale by providing sub-advisory services to the New Fund, based on the anticipated size of the Fund during at least the Fund’s first few years; and |
• | the significant investment of time, personnel and other resources that the Sub-Adviser has made and intends to continue to make in the New Fund to seek to assure that the New Fund is attractive to investors |
Other Benefits
In considering the New Sub-Advisory Agreement, in addition to the categories discussed above, the Board considered other benefits realized by the Sub-Adviser because of its relationship with the New Fund.
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 and the New Sub-Advisory Agreement were fair and reasonable and in the best interest of the New Fund.
In reaching this decision, the Board did not assign relative weights to the factors above nor did the Board deem any one factor or group of them to be controlling in and of themselves. Each member of the Board may have assigned different weights to the various factors.
48
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.
49
NOTES
50
NOTES
51
NOTES
52
605 Third Avenue, 43rd Floor
New York, NY 10158
1-888-493-8631
www.globalxetfs.com
Investment Adviser and Administrator:
Global X Management Company LLC
605 Third Avenue, 43rd Floor
New York, NY 10158
Sub-Adviser - Global X Emerging Markets Bond ETF:
Mirae Asset Global Investments (USA) LLC
625 Madison Avenue, 3rd Floor
New York, NY 10022
Sub-Adviser - Global X China Innovation ETF:
Mirae Asset Global Investments (Hong Kong) Limited
Level 15, Three Pacific Place
1 Queen’s Road East
Hong Kong
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.
50 Post Office Square
Boston, MA 02110
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 Fund described.
GLX-SA-006-0800
Global X SuperDividend® Alternatives ETF (ticker: ALTY) |
Global X S&P 500® Quality Dividend ETF (ticker: QDIV) |
Global X U.S. Preferred ETF (ticker: PFFD) |
Global X Variable Rate Preferred ETF (ticker: PFFV) |
Global X MLP ETF (ticker: MLPA) |
Global X MLP & Energy Infrastructure ETF (ticker: MLPX) |
Global X TargetIncomeTM 5 ETF (ticker: TFIV) |
Global X TargetIncomeTM Plus 2 ETF (ticker: TFLT) |
Global X Conscious Companies ETF (ticker: KRMA) |
Global X Adaptive U.S. Factor ETF (ticker: AUSF) |
Global X Adaptive U.S. Risk Management ETF (ticker: ONOF) |
Global X Founder-Run Companies ETF (ticker: BOSS) |
Semi-Annual Report
May 31, 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
Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Shares may only be redeemed directly from the 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 report on Form N-PORT. The Funds’ Forms N-PORT are available on the Commission’s website at https://www.sec.gov, and may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.
A description of the policies and procedures that Global X Funds uses to determine how to vote proxies relating to Fund securities, as well as information relating to how the Funds voted proxies relating to Fund securities during the most recent 12-month period ended June 30, is available (i) without charge, upon request, by calling 1-888-493-8631; and (ii) on the Commission’s website at https://www.sec.gov.
May 31, 2021 (Unaudited)
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 — 30.4% | ||||||||
Energy — 2.1% | ||||||||
Kinder Morgan | 33,436 | $ | 613,216 | |||||
Financials — 17.7% | ||||||||
Ares Capital | 19,201 | 373,843 | ||||||
Blackstone Group, Cl A | 5,147 | 476,973 | ||||||
Carlyle Group | 10,601 | 462,628 | ||||||
Gladstone Investment (A) | 29,478 | 415,050 | ||||||
Hamilton Lane, Cl A | 4,016 | 362,926 | ||||||
Hercules Capital | 23,704 | 402,494 | ||||||
KKR | 7,545 | 420,181 | ||||||
Main Street Capital | 9,070 | 372,958 | ||||||
New Mountain Finance | 28,080 | 372,902 | ||||||
Oaktree Specialty Lending | 55,562 | 374,488 | ||||||
Owl Rock Capital | 22,442 | 323,165 | ||||||
Prospect Capital (A) | 54,751 | 464,836 | ||||||
Sixth Street Specialty Lending | 16,651 | 371,650 | ||||||
5,194,094 |
1
Schedule of Investments
May 31, 2021 (Unaudited)
Global X SuperDividend® Alternatives ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Utilities — 10.6% | ||||||||
Dominion Energy | 5,021 | $ | 382,299 | |||||
Duke Energy | 4,494 | 450,389 | ||||||
Edison International | 7,856 | 438,915 | ||||||
Evergy | 7,824 | 485,009 | ||||||
OGE Energy | 13,471 | 464,750 | ||||||
PPL | 14,926 | 434,496 | ||||||
Southern | 7,335 | 468,852 | ||||||
3,124,710 | ||||||||
TOTAL COMMON STOCK | ||||||||
(Cost $7,368,706) | 8,932,020 | |||||||
EXCHANGE TRADED FUNDS — 25.8% | ||||||||
Eaton Vance Tax-Managed Buy-Write Income Fund (A) | 45,243 | 733,841 | ||||||
Global X SuperDividend REIT ETF (A)(B) | 533,607 | 5,314,726 | ||||||
Nuveen Dow 30sm Dynamic Overwrite Fund | 45,145 | 771,980 | ||||||
Nuveen S&P 500 Buy-Write Income Fund | 54,041 | 772,246 | ||||||
TOTAL EXCHANGE TRADED FUNDS | ||||||||
(Cost $8,220,610) | 7,592,793 | |||||||
CLOSED-END FUNDS — 24.5% | ||||||||
BlackRock Income Trust | 99,936 | 640,590 | ||||||
Brookfield Real Assets Income Fund (A) | 38,313 | 832,542 | ||||||
Eaton Vance Risk-Managed Diversified Equity Income Fund (A) | 64,580 | 719,421 | ||||||
Morgan Stanley Emerging Markets Domestic Debt Fund (A) | 109,976 | 691,749 | ||||||
Nuveen Mortgage and Income Fund | 31,837 | 667,940 | ||||||
Stone Harbor Emerging Markets Income Fund (A) | 97,380 | 817,018 | ||||||
Templeton Emerging Markets Income Fund | 82,658 | 656,305 |
2
Schedule of Investments
May 31, 2021 (Unaudited)
Global X SuperDividend® Alternatives ETF
Shares | Value | |||||||
CLOSED-END FUNDS — continued | ||||||||
Voya Global Equity Dividend and Premium Opportunity Fund (A) | 126,159 | $ | 756,954 | |||||
Western Asset Emerging Markets Debt Fund (A) | 50,020 | 698,779 | ||||||
Western Asset Mortgage Opportunity Fund | 47,330 | 708,530 | ||||||
TOTAL CLOSED-END FUNDS | ||||||||
(Cost $7,180,511) | 7,189,828 | |||||||
MASTER LIMITED PARTNERSHIPS — 17.6% | ||||||||
Energy — 13.4% | ||||||||
Black Stone Minerals | 66,051 | 653,905 | ||||||
BP Midstream Partners | 42,960 | 607,454 | ||||||
Energy Transfer | 75,790 | 750,321 | ||||||
Magellan Midstream Partners | 12,021 | 592,515 | ||||||
MPLX | 26,396 | 755,718 | ||||||
Sunoco | 16,932 | 593,297 | ||||||
3,953,210 | ||||||||
Financials — 1.3% | ||||||||
Compass Diversified Holdings | 14,201 | 368,516 | ||||||
Industrials — 1.6% | ||||||||
Icahn Enterprises | 8,523 | 480,442 | ||||||
Utilities — 1.3% | ||||||||
Suburban Propane Partners | 25,213 | 370,631 | ||||||
TOTAL MASTER LIMITED PARTNERSHIPS | ||||||||
(Cost $3,375,412) | 5,172,799 | |||||||
BUSINESS DEVELOPMENT COMPANY — 1.1% | ||||||||
Golub Capital BDC | 20,102 | 318,014 | ||||||
TOTAL BUSINESS DEVELOPMENT COMPANY | ||||||||
(Cost $309,557) | 318,014 | |||||||
3
Schedule of Investments
May 31, 2021 (Unaudited)
Global X SuperDividend® Alternatives ETF
Shares/Face Amount | Value | |||||||
SHORT-TERM INVESTMENT(C)(D) — 5.8% | ||||||||
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010% | ||||||||
(Cost $1,698,256) | 1,698,256 | $ | 1,698,256 | |||||
REPURCHASE AGREEMENT(C) — 5.5% | ||||||||
BNP Paribas | ||||||||
0.000%, dated 05/28/2021, to be repurchased on 06/01/2021, repurchase price $1,629,331 (collateralized by U.S. Treasury Obligations, ranging in par value $32,325 - $235,015, 2.000%, 10/31/2022, with a total market value of $1,661,121) | ||||||||
(Cost $1,629,331) | $ | 1,629,331 | 1,629,331 | |||||
TOTAL INVESTMENTS — 110.7% | ||||||||
(Cost $29,782,383) | $ | 32,533,041 |
Percentages are based on Net Assets of $29,382,912.
(A) | This security or a partial position of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $3,246,286. |
(B) | Affiliated investment. |
(C) | Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2021 was $3,327,587. |
(D) | The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2021. |
BDC — Business Development Company |
Cl — Class |
ETF — Exchange Traded Fund |
REIT — Real Estate Investment Trust |
S&P — Standard & Poor’s |
4
Schedule of Investments
May 31, 2021 (Unaudited)
Global X SuperDividend® Alternatives ETF
The following is a summary of the level of inputs used as of May 31, 2021, in valuing the Fund’s investments carried at value:
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | 8,932,020 | $ | — | $ | — | $ | 8,932,020 | ||||||||
Exchange Traded Funds | 7,592,793 | — | — | 7,592,793 | ||||||||||||
Closed-End Funds | 7,189,828 | — | — | 7,189,828 | ||||||||||||
Master Limited Partnerships | 5,172,799 | — | — | 5,172,799 | ||||||||||||
Business Development Company | 318,014 | — | — | 318,014 | ||||||||||||
Short-Term Investment | 1,698,256 | — | — | 1,698,256 | ||||||||||||
Repurchase Agreement | — | 1,629,331 | — | 1,629,331 | ||||||||||||
Total Investments in Securities | $ | 30,903,710 | $ | 1,629,331 | $ | — | $ | 32,533,041 |
For the period ended May 31, 2021, there have been no transfers in or out of Level 3.
The following is a summary of the Fund’s transactions with affiliates for the period ended May 31, 2021:
Value at 11/30/2020 | Purchases at Cost | Proceeds from Sales | Changes in Unrealized Appreciation | Realized Loss | Value at 5/31/2021 | Shares | Dividend Income | |||||||||||||||||||||||||
Global X SuperDividend® REIT ETF | $ | 3,618,456 | $ | 1,110,899 | $ | (30,583 | ) | $ | 633,835 | $ | (17,881 | ) | $ | 5,314,726 | 533,607 | $ | 146,456 |
5
Sector Weightings †:
† Sector weightings percentages are based on the total market value of investments.
Shares | Value | |||||||
COMMON STOCK — 99.6% | ||||||||
IRELAND— 1.8% | ||||||||
Information Technology — 1.8% | ||||||||
Seagate Technology Holdings | 1,816 | $ | 173,882 | |||||
UNITED STATES— 97.8% | ||||||||
Communication Services — 1.7% | ||||||||
Lumen Technologies | 11,533 | 159,617 | ||||||
Consumer Staples — 14.8% | ||||||||
Campbell Soup | 2,488 | 121,091 | ||||||
Clorox | 580 | 102,503 | ||||||
Conagra Brands | 3,324 | 126,644 | ||||||
General Mills | 1,980 | 124,463 | ||||||
Hershey | 786 | 136,017 | ||||||
J M Smucker | 1,020 | 135,956 | ||||||
Kellogg | 1,891 | 123,842 | ||||||
Kraft Heinz | 3,448 | 150,298 | ||||||
Mondelez International, Cl A | 2,045 | 129,919 | ||||||
Procter & Gamble | 862 | 116,241 |
6
Schedule of Investments
May 31, 2021 (Unaudited)
Global X S&P 500® Quality Dividend ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Consumer Staples — continued | ||||||||
Tyson Foods, Cl A | 1,698 | $ | 134,991 | |||||
1,401,965 | ||||||||
Energy — 2.6% | ||||||||
Cabot Oil & Gas | 6,912 | 113,357 | ||||||
Chevron | 1,269 | 131,709 | ||||||
245,066 | ||||||||
Financials — 23.6% | ||||||||
Ameriprise Financial | 611 | 158,762 | ||||||
Assurant | 889 | 143,262 | ||||||
BlackRock, Cl A | 171 | 149,974 | ||||||
Citizens Financial Group | 3,323 | 165,818 | ||||||
Comerica | 2,228 | 174,875 | ||||||
KeyCorp | 7,420 | 170,956 | ||||||
M&T Bank | 933 | 149,924 | ||||||
Northern Trust | 1,306 | 158,274 | ||||||
PNC Financial Services Group | 816 | 158,859 | ||||||
Regions Financial | 7,560 | 176,979 | ||||||
Synchrony Financial | 3,644 | 172,762 | ||||||
T Rowe Price Group | 776 | 148,488 | ||||||
Travelers | 870 | 138,939 | ||||||
Zions Bancorp | 2,819 | 163,164 | ||||||
2,231,036 | ||||||||
Health Care — 7.8% | ||||||||
AbbVie | 1,105 | 125,087 | ||||||
Amgen | 515 | 122,539 | ||||||
Cardinal Health | 2,163 | 121,279 | ||||||
Johnson & Johnson | 770 | 130,323 | ||||||
Medtronic | 1,046 | 132,413 | ||||||
Merck | 1,414 | 107,308 | ||||||
738,949 | ||||||||
Industrials — 13.4% | ||||||||
CH Robinson Worldwide | 1,260 | 122,245 |
7
Schedule of Investments
May 31, 2021 (Unaudited)
Global X S&P 500® Quality Dividend ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Industrials — continued | ||||||||
Cummins | 538 | $ | 138,417 | |||||
Eaton | 1,017 | 147,720 | ||||||
Emerson Electric | 1,428 | 136,645 | ||||||
Fastenal | 2,373 | 125,864 | ||||||
Illinois Tool Works | 574 | 133,030 | ||||||
Johnson Controls International | 2,579 | 171,607 | ||||||
Lockheed Martin | 326 | 124,597 | ||||||
Snap-On | 651 | 165,757 | ||||||
1,265,882 | ||||||||
Information Technology — 7.1% | ||||||||
Automatic Data Processing | 679 | 133,098 | ||||||
Cisco Systems | 2,654 | 140,397 | ||||||
Intel | 2,364 | 135,032 | ||||||
Paychex | 1,281 | 129,560 | ||||||
Texas Instruments | 729 | 138,378 | ||||||
676,465 | ||||||||
Materials — 9.7% | ||||||||
Amcor | 10,269 | 121,174 | ||||||
CF Industries Holdings | 2,986 | 158,766 | ||||||
Dow | 2,178 | 149,019 | ||||||
Eastman Chemical | 1,145 | 143,583 | ||||||
Nucor | 2,073 | 212,565 | ||||||
Packaging Corp of America | 867 | 128,880 | ||||||
913,987 | ||||||||
Real Estate — 15.9% | ||||||||
AvalonBay Communities ‡ | 723 | 149,618 | ||||||
Digital Realty Trust ‡ | 901 | 136,556 | ||||||
Equity Residential ‡ | 1,996 | 154,590 | ||||||
Essex Property Trust ‡ | 481 | 142,034 | ||||||
Kimco Realty ‡ | 7,967 | 169,777 | ||||||
Mid-America Apartment Communities ‡ | 965 | 155,076 | ||||||
ProLogis ‡ | 1,205 | 141,997 |
8
Schedule of Investments
May 31, 2021 (Unaudited)
Global X S&P 500® Quality Dividend ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Real Estate — continued | ||||||||
Public Storage ‡ | 535 | $ | 151,127 | |||||
Regency Centers ‡ | 2,494 | 161,112 | ||||||
Weyerhaeuser ‡ | 3,674 | 139,465 | ||||||
1,501,352 | ||||||||
Utilities — 1.2% | ||||||||
NRG Energy | 3,540 | 113,811 | ||||||
TOTAL UNITED STATES | 9,248,130 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $7,660,449) | 9,422,012 | |||||||
TOTAL INVESTMENTS — 99.6% | ||||||||
(Cost $7,660,449) | $ | 9,422,012 |
Percentages are based on Net Assets of $9,455,575.
‡ | Real Estate Investment Trust |
Cl — Class
As of May 31, 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 period ended May 31, 2021, there have been no transfers in or out of Level 3.
9
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 Notes 2 and 7 in Notes to Financial Statements for more detailed information.
Shares | Value | |||||||
PREFERRED STOCK — 99.3% | ||||||||
BERMUDA— 1.0% | ||||||||
Financials — 0.7% | ||||||||
Aspen Insurance Holdings, 5.950%, VAR ICE LIBOR USD 3 Month+4.060% | 102,040 | $ | 2,685,693 | |||||
Aspen Insurance Holdings, 5.625% | 92,015 | 2,410,793 | ||||||
Aspen Insurance Holdings, 5.625% | 92,011 | 2,386,765 | ||||||
RenaissanceRe Holdings, 5.750% | 92,026 | 2,453,413 | ||||||
RenaissanceRe Holdings, 5.375% | 102,032 | 2,561,003 | ||||||
12,497,667 | ||||||||
Industrials — 0.3% | ||||||||
Triton International, 8.000% | 61,266 | 1,761,398 | ||||||
Triton International, 7.375% | 65,588 | 1,812,852 | ||||||
Triton International, 6.875% | 56,373 | 1,513,051 | ||||||
5,087,301 |
10
Schedule of Investments
May 31, 2021 (Unaudited)
Global X U.S. Preferred ETF
Shares | Value | |||||||
PREFERRED STOCK — continued | ||||||||
TOTAL BERMUDA | $ | 17,584,968 | ||||||
CANADA— 1.3% | ||||||||
Energy — 0.3% | ||||||||
Enbridge, 6.375%, VAR ICE LIBOR USD 3 Month+3.593% | 229,852 | 6,222,094 | ||||||
Financials — 0.4% | ||||||||
Brookfield Finance, 4.625% | 159,740 | 4,023,850 | ||||||
Brookfield Finance I UK, 4.500% | 95,052 | 2,343,032 | ||||||
6,366,882 | ||||||||
Utilities — 0.6% | ||||||||
Algonquin Power & Utilities, 6.875%, VAR ICE LIBOR USD 3 Month+3.677% | 105,923 | 2,949,956 | ||||||
Algonquin Power & Utilities, 6.200%, VAR ICE LIBOR USD 3 Month+4.010% | 129,270 | 3,604,048 | ||||||
Brookfield Infrastructure Partners, 5.125% | 74,242 | 1,925,095 | ||||||
Brookfield Renewable Partners, 5.250% | 77,229 | 2,074,371 | ||||||
10,553,470 | ||||||||
TOTAL CANADA | 23,142,446 | |||||||
NETHERLANDS— 0.6% | ||||||||
Financials — 0.6% | ||||||||
Aegon, 5.100% | 352,127 | 9,211,642 | ||||||
Aegon, 4.000%, VAR ICE LIBOR USD 3 Month+0.875% | 92,004 | 2,324,941 | ||||||
TOTAL NETHERLANDS | 11,536,583 | |||||||
UNITED KINGDOM— 0.3% | ||||||||
Financials — 0.3% | ||||||||
Prudential, 6.750% | 92,024 | 2,546,304 | ||||||
Prudential, 6.500% | 110,943 | 3,036,510 | ||||||
TOTAL UNITED KINGDOM | 5,582,814 |
11
Schedule of Investments
May 31, 2021 (Unaudited)
Global X U.S. Preferred ETF
Shares | Value | |||||||
PREFERRED STOCK — continued | ||||||||
UNITED STATES— 96.1% | ||||||||
Communication Services — 4.4% | ||||||||
AT&T, 5.625% | 314,871 | $ | 8,454,286 | |||||
AT&T, 5.350% | 499,557 | 13,113,371 | ||||||
AT&T, 5.000% | 454,010 | 11,958,624 | ||||||
AT&T, 4.750% | 674,083 | 17,256,525 | ||||||
Qwest, 6.750% | 252,412 | 6,693,966 | ||||||
Qwest, 6.500% | 372,244 | 9,436,385 | ||||||
United States Cellular, 7.250% | 110,919 | 2,779,630 | ||||||
United States Cellular, 6.250% | 184,775 | 4,933,493 | ||||||
United States Cellular, 5.500% | 180,137 | 4,606,103 | ||||||
79,232,383 | ||||||||
Consumer Discretionary — 3.1% | ||||||||
Aptiv, 5.500% | 110,661 | 18,797,984 | ||||||
Brunswick, 6.625% | 46,542 | 1,293,402 | ||||||
Brunswick, 6.375% | 84,646 | 2,437,805 | ||||||
Ford Motor, 6.200% | 286,617 | 7,732,927 | ||||||
Ford Motor, 6.000% | 305,292 | 8,166,561 | ||||||
Qurate Retail, 8.000% | 120,792 | 12,753,219 | ||||||
QVC, 6.250% | 184,820 | 4,809,016 | ||||||
55,990,914 | ||||||||
Energy — 1.3% | ||||||||
Energy Transfer, 7.600%, VAR ICE LIBOR USD 3 Month+5.161% | 305,781 | 7,617,005 | ||||||
Energy Transfer, 7.400% | 164,238 | 4,102,665 | ||||||
Energy Transfer, 7.375%, VAR ICE LIBOR USD 3 Month+4.530% | 166,472 | 4,090,217 | ||||||
NuStar Energy, 9.000%, VAR ICE LIBOR USD 3 Month+6.880% | 63,458 | 1,557,894 | ||||||
NuStar Energy, 7.625%, VAR ICE LIBOR USD 3 Month+5.643% | 141,850 | 2,973,176 |
12
Schedule of Investments
May 31, 2021 (Unaudited)
Global X U.S. Preferred ETF
Shares | Value | |||||||
PREFERRED STOCK — continued | ||||||||
Energy — continued | ||||||||
NuStar Logistics, 6.918%, VAR ICE LIBOR USD 3 Month+6.734% | 148,949 | $ | 3,722,235 | |||||
24,063,192 | ||||||||
Financials — 53.9% | ||||||||
Affiliated Managers Group, 5.875% | 110,938 | 3,062,998 | ||||||
Affiliated Managers Group, 4.750% | 102,039 | 2,658,116 | ||||||
Allstate, 5.625% | 220,304 | 6,131,060 | ||||||
Allstate, 5.100%, VAR ICE LIBOR USD 3 Month+3.165% (A) | 191,981 | 5,219,963 | ||||||
Allstate, 5.100% | 434,954 | 11,926,439 | ||||||
Allstate, 4.750% | 110,936 | 2,969,757 | ||||||
American Equity Investment Life Holding, 6.625%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+6.297% | 110,937 | 3,146,173 | ||||||
American Equity Investment Life Holding, 5.950%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+4.322% | 147,531 | 4,058,578 | ||||||
American Financial Group, 5.625% (A) | 55,428 | 1,574,155 | ||||||
American Financial Group, 5.125% | 76,200 | 2,054,352 | ||||||
American International Group, 5.850% | 191,869 | 5,333,958 | ||||||
Apollo Global Management, 6.375% | 110,936 | 2,985,288 | ||||||
Apollo Global Management, 6.375% | 102,043 | 2,641,893 | ||||||
Arch Capital Group, 5.450% | 121,931 | 3,223,856 | ||||||
Arch Capital Group, 5.250% | 166,524 | 4,238,036 | ||||||
Argo Group International Holdings, 7.000%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+6.712% | 55,417 | 1,523,967 | ||||||
Associated Banc-Corp, 5.625% (A) | 36,500 | 1,027,110 | ||||||
Assurant, 5.250% | 98,607 | 2,619,988 | ||||||
Assured Guaranty Municipal Holdings, 6.250% | 84,634 | 2,177,633 |
13
Schedule of Investments
May 31, 2021 (Unaudited)
Global X U.S. Preferred ETF
Shares | Value | |||||||
PREFERRED STOCK — continued | ||||||||
Financials — continued | ||||||||
Athene Holding, 6.375%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+5.970% | 229,781 | $ | 6,571,737 | |||||
Athene Holding, 6.350%, VAR ICE LIBOR USD 3 Month+4.253% | 328,757 | 9,599,704 | ||||||
Athene Holding, 5.625% | 127,176 | 3,424,850 | ||||||
Athene Holding, 4.875% | 220,690 | 5,574,629 | ||||||
Axis Capital Holdings, 5.500% | 210,822 | 5,354,879 | ||||||
BancorpSouth Bank, 5.500% | 65,190 | 1,765,997 | ||||||
Bank of America, 7.250% | 29,472 | 41,427,022 | ||||||
Bank of America, 6.450%, VAR ICE LIBOR USD 3 Month+1.327% (A) | 397,772 | 10,743,822 | ||||||
Bank of America, 6.000% | 509,913 | 14,083,797 | ||||||
Bank of America, 5.875% | 324,984 | 8,976,058 | ||||||
Bank of America, 5.375% | 539,227 | 14,871,881 | ||||||
Bank of America, 5.000% | 505,986 | 13,666,682 | ||||||
Bank of America, 4.375% | 426,451 | 10,844,649 | ||||||
Bank of America, 4.000%, VAR ICE LIBOR USD 3 Month+0.500% (A) | 155,430 | 3,930,825 | ||||||
Bank of America, 4.000%, VAR ICE LIBOR USD 3 Month+0.750% | 75,850 | 1,919,005 | ||||||
Bank of America, 4.000%, VAR ICE LIBOR USD 3 Month+0.350% (A) | 117,406 | 2,982,112 | ||||||
Bank of America, 3.000%, VAR ICE LIBOR USD 3 Month+0.650% (A) | 110,532 | 2,442,757 | ||||||
BOK Financial, 5.375% | 55,405 | 1,410,057 | ||||||
Brighthouse Financial, 6.750% (A) | 148,412 | 4,125,854 | ||||||
Brighthouse Financial, 6.600% | 157,059 | 4,358,387 | ||||||
Brighthouse Financial, 6.250% | 138,845 | 3,790,469 | ||||||
Brighthouse Financial, 5.375% | 226,129 | 5,942,670 | ||||||
Capital One Financial, 6.000% | 184,775 | 4,745,022 | ||||||
Capital One Financial, 5.200% | 230,068 | 5,898,943 |
14
Schedule of Investments
May 31, 2021 (Unaudited)
Global X U.S. Preferred ETF
Shares | Value | |||||||
PREFERRED STOCK — continued | ||||||||
Financials — continued | ||||||||
Capital One Financial, 5.000% | 578,664 | $ | 15,160,997 | |||||
Capital One Financial, 4.800% | 483,584 | 12,374,915 | ||||||
Capital One Financial, 4.625% | 46,529 | 1,196,261 | ||||||
Charles Schwab, 6.000% | 230,014 | 5,752,650 | ||||||
Charles Schwab, 5.950% | 286,698 | 7,259,193 | ||||||
CIT Group, 5.625% | 74,247 | 1,963,091 | ||||||
Citigroup, Ser J, 7.125%, VAR ICE LIBOR USD 3 Month+4.040% | 361,244 | 10,273,779 | ||||||
Citigroup, 6.875%, VAR ICE LIBOR USD 3 Month+4.130% | 576,297 | 16,349,546 | ||||||
Citigroup Capital XIII, 6.556%, VAR ICE LIBOR USD 3 Month+6.370% | 862,685 | 23,896,375 | ||||||
Citizens Financial Group, 6.350%, VAR ICE LIBOR USD 3 Month+3.642% | 110,946 | 3,181,931 | ||||||
Citizens Financial Group, 5.000% | 166,531 | 4,394,753 | ||||||
Cullen, 4.450% | 65,727 | 1,681,954 | ||||||
Dime Community Bancshares, 5.500% | 48,736 | 1,259,826 | ||||||
Enstar Group, 7.000%, VAR ICE LIBOR USD 3 Month+4.015% | 147,546 | 4,228,668 | ||||||
Equitable Holdings, 5.250% | 305,328 | 8,124,778 | ||||||
Fifth Third Bancorp, 6.625%, VAR ICE LIBOR USD 3 Month+3.710% | 166,545 | 4,766,518 | ||||||
Fifth Third Bancorp, 4.950% (A) | 92,022 | 2,506,679 | ||||||
First Citizens BancShares, 5.375% | 127,178 | 3,379,119 | ||||||
First Horizon, 6.500% | 55,425 | 1,536,935 | ||||||
First Midwest Bancorp, 7.000% | 40,108 | 1,116,206 | ||||||
First Midwest Bancorp, 7.000% | 45,198 | 1,265,092 | ||||||
First Republic Bank, 5.500% | 110,936 | 3,025,225 | ||||||
First Republic Bank, 4.700% | 146,053 | 3,814,904 | ||||||
First Republic Bank, 4.125% (A) | 184,773 | 4,672,909 | ||||||
Fulton Financial, 5.125% | 83,187 | 2,183,659 | ||||||
Globe Life, 6.125% | 110,934 | 2,833,254 |
15
Schedule of Investments
May 31, 2021 (Unaudited)
Global X U.S. Preferred ETF
Shares | Value | |||||||
PREFERRED STOCK — continued | ||||||||
Financials — continued | ||||||||
GMAC Capital Trust I, Ser 2, 5.941%, VAR ICE LIBOR USD 3 Month+5.785% | 1,023,762 | $ | 25,901,179 | |||||
Goldman Sachs Group, 6.375%, VAR ICE LIBOR USD 3 Month+3.550% (A) | 267,131 | 7,760,156 | ||||||
Goldman Sachs Group, 5.500%, VAR ICE LIBOR USD 3 Month+3.640% | 387,839 | 10,568,613 | ||||||
Goldman Sachs Group, 4.000%, VAR ICE LIBOR USD 3 Month+0.670% | 521,909 | 13,005,972 | ||||||
Goldman Sachs Group, 4.000%, VAR ICE LIBOR USD 3 Month+0.750% | 75,954 | 1,925,434 | ||||||
Goldman Sachs Group, 3.750%, VAR ICE LIBOR USD 3 Month+0.750% | 287,012 | 6,957,171 | ||||||
Hancock Whitney, 6.250% | 63,513 | 1,757,405 | ||||||
Hartford Financial Services Group, 6.000% | 127,191 | 3,509,200 | ||||||
Huntington Bancshares, 6.250% | 230,020 | 5,856,309 | ||||||
JPMorgan Chase, 6.150% | 445,585 | 11,152,993 | ||||||
JPMorgan Chase, 6.100% | 550,408 | 13,776,712 | ||||||
JPMorgan Chase, 6.000% | 711,608 | 19,868,095 | ||||||
JPMorgan Chase, 5.750% | 653,167 | 17,870,649 | ||||||
JPMorgan Chase, 4.750% | 342,530 | 8,953,734 | ||||||
KeyCorp, 6.125%, VAR ICE LIBOR USD 3 Month+3.892% | 191,712 | 5,826,128 | ||||||
KeyCorp, 5.650% | 157,059 | 4,259,440 | ||||||
KeyCorp, 5.625% | 166,538 | 4,574,799 | ||||||
KKR, 6.750% | 127,177 | 3,183,240 | ||||||
KKR, 6.500% | 56,849 | 1,442,259 | ||||||
KKR, 6.000% | 217,053 | 16,129,209 | ||||||
MetLife, 5.625% | 306,860 | 8,404,895 | ||||||
MetLife, 4.750% | 388,037 | 10,302,382 | ||||||
MetLife, 4.000%, VAR ICE LIBOR USD 3 Month+1.000% | 230,062 | 5,924,097 |
16
Schedule of Investments
May 31, 2021 (Unaudited)
Global X U.S. Preferred ETF
Shares | Value | |||||||
PREFERRED STOCK — continued | ||||||||
Financials — continued | ||||||||
Morgan Stanley, Ser E, 7.125%, VAR ICE LIBOR USD 3 Month+4.320% | 327,887 | $ | 9,502,165 | |||||
Morgan Stanley, Ser F, 6.875%, VAR ICE LIBOR USD 3 Month+3.940% | 323,566 | 9,189,274 | ||||||
Morgan Stanley, 6.375%, VAR ICE LIBOR USD 3 Month+3.708% | 387,476 | 11,194,182 | ||||||
Morgan Stanley, 5.850%, VAR ICE LIBOR USD 3 Month+3.491% | 387,504 | 11,253,116 | ||||||
Morgan Stanley, 4.875% | 192,013 | 5,097,945 | ||||||
Morgan Stanley, 4.000%, VAR ICE LIBOR USD 3 Month+0.700% | 417,960 | 10,440,641 | ||||||
Navient, 6.000% | 110,915 | 2,791,730 | ||||||
New York Community Bancorp, 6.375%, VAR ICE LIBOR USD 3 Month+3.821% | 197,223 | 5,601,133 | ||||||
New York Community Capital Trust V, 6.000% | 26,922 | 1,353,369 | ||||||
Northern Trust, 4.700% | 147,542 | 4,042,651 | ||||||
Oaktree Capital Group, 6.550% | 86,436 | 2,353,652 | ||||||
People’s United Financial, 5.625%, VAR ICE LIBOR USD 3 Month+4.020% | 92,025 | 2,599,706 | ||||||
Prudential Financial, 5.625% (A) | 216,593 | 6,014,788 | ||||||
Prudential Financial, 4.125% | 184,774 | 4,757,931 | ||||||
Ready Capital, 7.000% ‡ | 42,295 | 1,143,234 | ||||||
Regions Financial, Ser A, 6.375% | 191,980 | 4,816,778 | ||||||
Regions Financial, Ser B, 6.375%, VAR ICE LIBOR USD 3 Month+3.536% | 191,835 | 5,547,868 | ||||||
Regions Financial, 5.700%, VAR ICE LIBOR USD 3 Month+3.148% | 191,881 | 5,416,801 | ||||||
Reinsurance Group of America, 6.200%, VAR ICE LIBOR USD 3 Month+4.370% | 147,543 | 3,849,397 | ||||||
Reinsurance Group of America, 5.750%, VAR ICE LIBOR USD 3 Month+4.040% | 147,550 | 4,063,527 | ||||||
Selective Insurance Group, 4.600% | 83,457 | 2,104,786 |
17
Schedule of Investments
May 31, 2021 (Unaudited)
Global X U.S. Preferred ETF
Shares | Value | |||||||
PREFERRED STOCK — continued | ||||||||
Financials — continued | ||||||||
Signature Bank NY, 5.000% | 285,270 | $ | 7,482,632 | |||||
State Street, 5.900%, VAR ICE LIBOR USD 3 Month+3.108% | 286,409 | 8,159,793 | ||||||
State Street, 5.350%, VAR ICE LIBOR USD 3 Month+3.709% | 191,713 | 5,636,362 | ||||||
Stifel Financial, 6.125% | 83,235 | 2,248,177 | ||||||
Stifel Financial, 5.200% | 83,223 | 2,188,765 | ||||||
SVB Financial Group, 5.250% | 129,261 | 3,433,172 | ||||||
Synchrony Financial, 5.625% | 286,660 | 7,653,822 | ||||||
Synovus Financial, 6.300%, VAR ICE LIBOR USD 3 Month+3.352% | 76,101 | 2,015,155 | ||||||
Synovus Financial, 5.875%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+4.127% | 129,260 | 3,482,264 | ||||||
TCF Financial, 5.700% | 66,854 | 1,781,659 | ||||||
Truist Financial, 5.625% | 172,325 | 4,309,848 | ||||||
Truist Financial, 5.250% | 220,362 | 6,066,566 | ||||||
Truist Financial, 4.750% | 352,097 | 9,246,067 | ||||||
Truist Financial, 4.000%, VAR ICE LIBOR USD 3 Month+0.530% | 65,048 | 1,722,471 | ||||||
Unum Group, 6.250% | 110,936 | 2,999,709 | ||||||
US Bancorp, 5.500% (A) | 220,263 | 6,215,822 | ||||||
US Bancorp, 3.750% | 179,721 | 4,388,787 | ||||||
US Bancorp, 3.500%, VAR ICE LIBOR USD 3 Month+1.020% | 5,629 | 5,325,372 | ||||||
US Bancorp, 3.500%, VAR ICE LIBOR USD 3 Month+0.600% | 380,780 | 9,310,071 | ||||||
Voya Financial, 5.350%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+3.210% | 110,942 | 3,111,923 | ||||||
Wells Fargo, 7.500% | 37,917 | 55,159,377 | ||||||
Wells Fargo, 6.625%, VAR ICE LIBOR USD 3 Month+3.690% | 319,725 | 9,198,488 |
18
Schedule of Investments
May 31, 2021 (Unaudited)
Global X U.S. Preferred ETF
Shares | Value | |||||||
PREFERRED STOCK — continued | ||||||||
Financials — continued | ||||||||
Wells Fargo, 5.850%, VAR ICE LIBOR USD 3 Month+3.090% | 664,278 | $ | 18,001,934 | |||||
Wells Fargo, 5.625% | 263,648 | 6,852,212 | ||||||
Wells Fargo, 5.500% | 445,490 | 11,297,626 | ||||||
Wells Fargo, 5.200% | 140,674 | 3,518,257 | ||||||
Wells Fargo, 5.125% | 248,736 | 6,355,205 | ||||||
Wells Fargo, 4.750% | 774,123 | 20,073,009 | ||||||
Wells Fargo, 4.700% | 453,080 | 11,671,341 | ||||||
Wintrust Financial, 6.875%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+6.507% | 105,926 | 3,012,535 | ||||||
Wintrust Financial, 6.500%, VAR ICE LIBOR USD 3 Month+4.060% | 48,428 | 1,364,701 | ||||||
WR Berkley, 5.750% | 106,591 | 2,699,950 | ||||||
WR Berkley, 5.700% | 68,454 | 1,848,258 | ||||||
WR Berkley, 5.100% | 110,931 | 2,987,372 | ||||||
978,087,792 | ||||||||
Health Care — 6.0% | ||||||||
Avantor, 6.250% | 199,077 | 19,840,014 | ||||||
Becton Dickinson, 6.000% | 332,111 | 18,100,049 | ||||||
Boston Scientific, 5.500% | 95,049 | 10,827,032 | ||||||
Change Healthcare, 6.000% | 51,287 | 4,054,238 | ||||||
Danaher, 5.000% | 16,503 | 23,682,300 | ||||||
Danaher, 4.750% | 15,817 | 27,474,129 | ||||||
Elanco Animal Health, 5.000% | 105,989 | 5,739,304 | ||||||
109,717,066 | ||||||||
Industrials — 1.3% | ||||||||
Air Lease, 6.150%, VAR ICE LIBOR USD 3 Month+3.650% | 92,013 | 2,458,587 |
19
Schedule of Investments
May 31, 2021 (Unaudited)
Global X U.S. Preferred ETF
Shares | Value | |||||||
PREFERRED STOCK — continued | ||||||||
Industrials — continued | ||||||||
Fortress Transportation and Infrastructure Investors, 8.250%, VAR ICE LIBOR USD 3 Month+6.886% | 33,792 | $ | 885,013 | |||||
Fortress Transportation and Infrastructure Investors, 8.000%, VAR ICE LIBOR USD 3 Month+6.447% | 48,141 | 1,227,596 | ||||||
Pitney Bowes, 6.700% | 157,007 | 3,890,633 | ||||||
Stanley Black & Decker, 5.250% | 72,913 | 9,218,391 | ||||||
WESCO International, 10.625%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+10.325% | 206,471 | 6,491,448 | ||||||
24,171,668 | ||||||||
Information Technology — 3.9% | ||||||||
Broadcom, 8.000% | 38,217 | 58,123,471 | ||||||
II-VI, 6.000% | 21,925 | 6,155,224 | ||||||
Sabre, 6.500% | 31,564 | 5,531,907 | ||||||
69,810,602 | ||||||||
Real Estate — 6.5% | ||||||||
American Homes 4 Rent, 6.500% ‡ | 98,954 | 2,502,547 | ||||||
American Homes 4 Rent, 6.350% ‡ | 84,631 | 2,146,242 | ||||||
American Homes 4 Rent, 5.875% ‡ | 56,839 | 1,484,066 | ||||||
American Homes 4 Rent, 5.875% ‡ | 42,282 | 1,119,627 | ||||||
Brookfield Property Partners, 6.500% | 77,084 | 2,023,455 | ||||||
Brookfield Property Partners, 6.375% | 93,756 | 2,489,222 | ||||||
Brookfield Property Partners, 5.750% | 105,865 | 2,592,634 | ||||||
Digital Realty Trust, 5.850% ‡ | 77,419 | 2,191,732 | ||||||
Digital Realty Trust, 5.250% ‡ | 74,243 | 1,986,000 | ||||||
Digital Realty Trust, 5.200% ‡ | 127,180 | 3,530,517 | ||||||
Diversified Healthcare Trust, 6.250% ‡ | 91,997 | 2,299,925 | ||||||
Diversified Healthcare Trust, 5.625% ‡ | 129,233 | 2,993,036 | ||||||
EPR Properties, 5.750% ‡ | 55,380 | 1,427,143 |
20
Schedule of Investments
May 31, 2021 (Unaudited)
Global X U.S. Preferred ETF
Shares | Value | |||||||
PREFERRED STOCK — continued | ||||||||
Real Estate — continued | ||||||||
EPR Properties, 5.750% ‡ | 49,550 | $ | 1,304,651 | |||||
Federal Realty Investment Trust, 5.000% ‡ | 55,412 | 1,451,240 | ||||||
iStar, 7.500% ‡ | 45,463 | 1,162,489 | ||||||
Kimco Realty, 5.250% ‡ | 97,661 | 2,559,695 | ||||||
Kimco Realty, 5.125% ‡ | 83,225 | 2,193,811 | ||||||
National Retail Properties, 5.200% ‡ | 127,170 | 3,237,748 | ||||||
Office Properties Income Trust, 6.375% ‡ | 60,238 | 1,627,028 | ||||||
Office Properties Income Trust, 5.875% ‡ | 114,218 | 2,856,592 | ||||||
PS Business Parks, 5.250% ‡ | 84,637 | 2,256,422 | ||||||
PS Business Parks, 5.200% ‡ | 69,804 | 1,810,716 | ||||||
PS Business Parks, 4.875% ‡ | 119,815 | 3,246,986 | ||||||
Public Storage, 5.600% ‡ | 105,145 | 2,943,009 | ||||||
Public Storage, 5.150% ‡ | 103,566 | 2,753,820 | ||||||
Public Storage, 5.125% ‡ (A) | 76,229 | 1,936,217 | ||||||
Public Storage, 5.050% ‡ | 110,933 | 2,933,069 | ||||||
Public Storage, 4.950% ‡ | 119,807 | 3,052,682 | ||||||
Public Storage, 4.900% ‡ | 129,256 | 3,321,879 | ||||||
Public Storage, 4.875% ‡ | 117,118 | 3,196,150 | ||||||
Public Storage, 4.750% ‡ (A) | 84,652 | 2,346,553 | ||||||
Public Storage, 4.700% ‡ | 95,891 | 2,612,071 | ||||||
Public Storage, 4.625% ‡ | 216,722 | 5,844,992 | ||||||
Public Storage, 4.125% ‡ | 84,642 | 2,200,692 | ||||||
Public Storage, 3.900% ‡ | 71,922 | 1,853,430 | ||||||
Public Storage, 3.875% ‡ | 111,615 | 2,864,041 | ||||||
QTS Realty Trust, 7.125% ‡ | 39,758 | 1,083,406 | ||||||
QTS Realty Trust, 6.500% ‡ (A) | 28,973 | 4,141,111 | ||||||
RLJ Lodging Trust, 1.950% ‡ | 118,896 | 3,293,419 | ||||||
SITE Centers, 6.375% ‡ | 65,512 | 1,691,520 | ||||||
SL Green Realty, 6.500% ‡ | 84,629 | 2,191,045 | ||||||
VEREIT, Ser F, 6.700% ‡ | 149,254 | 3,791,052 |
21
Schedule of Investments
May 31, 2021 (Unaudited)
Global X U.S. Preferred ETF
Shares | Value | |||||||
PREFERRED STOCK — continued | ||||||||
Real Estate — continued | ||||||||
Vornado Realty Trust, 5.700% ‡ | 110,919 | $ | 2,865,038 | |||||
Vornado Realty Trust, 5.400% ‡ | 110,918 | 2,828,409 | ||||||
Vornado Realty Trust, 5.250% ‡ | 121,190 | 3,226,078 | ||||||
Vornado Realty Trust, 5.250% ‡ | 118,039 | 3,125,673 | ||||||
118,588,880 | ||||||||
Utilities — 15.7% | ||||||||
Alabama Power, 5.000% | 92,026 | 2,469,978 | ||||||
American Electric Power, 6.125% | 162,200 | 8,144,062 | ||||||
CMS Energy, 5.875% | 103,578 | 2,856,681 | ||||||
CMS Energy, 5.875% | 240,816 | 6,542,971 | ||||||
CMS Energy, 5.625% | 76,268 | 2,082,879 | ||||||
Dominion Energy, 7.250% (A) | 155,263 | 15,448,669 | ||||||
Dominion Energy, 5.250% | 305,345 | 7,749,656 | ||||||
DTE Energy, 6.250% | 222,716 | 11,369,652 | ||||||
DTE Energy, 6.000% | 103,566 | 2,646,111 | ||||||
DTE Energy, 5.375% | 110,923 | 2,779,730 | ||||||
DTE Energy, 5.250% | 147,539 | 3,831,588 | ||||||
DTE Energy, 4.375% | 94,781 | 2,429,237 | ||||||
Duke Energy, 5.750% | 387,694 | 10,843,801 | ||||||
Duke Energy, 5.625% | 191,896 | 5,204,219 | ||||||
Duke Energy, 5.125% | 184,778 | 4,813,467 | ||||||
Entergy Arkansas, 4.875% | 151,852 | 3,834,263 | ||||||
Entergy Louisiana, 4.875% | 99,379 | 2,513,295 | ||||||
Entergy Mississippi, 4.900% | 96,240 | 2,456,045 | ||||||
Essential Utilities, 6.000% | 93,185 | 5,612,533 | ||||||
Georgia Power, 5.000% | 99,392 | 2,659,730 | ||||||
Interstate Power and Light, 5.100% | 76,230 | 1,975,119 | ||||||
National Rural Utilities Cooperative Finance, 5.500% | 92,033 | 2,440,715 | ||||||
NextEra Energy, 6.219% | 384,904 | 18,621,656 |
22
Schedule of Investments
May 31, 2021 (Unaudited)
Global X U.S. Preferred ETF
Shares | Value | |||||||
PREFERRED STOCK — continued | ||||||||
Utilities — continued | ||||||||
NextEra Energy, 5.279% | 480,262 | $ | 22,985,339 | |||||
NextEra Energy, 4.872% | 289,175 | 16,089,697 | ||||||
NextEra Energy Capital Holdings, 5.650% | 262,599 | 7,316,008 | ||||||
NextEra Energy Capital Holdings, 5.250% | 218,224 | 5,483,969 | ||||||
NiSource, 6.500%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+3.632% | 191,881 | 5,364,993 | ||||||
PG&E, 5.500% | 154,315 | 15,556,495 | ||||||
PPL Capital Funding, Ser B, 5.900% | 166,528 | 4,316,406 | ||||||
SCE Trust III, 5.750%, VAR ICE LIBOR USD 3 Month+2.990% | 102,023 | 2,575,061 | ||||||
SCE Trust IV, 5.375%, VAR ICE LIBOR USD 3 Month+3.132% | 131,148 | 3,286,569 | ||||||
SCE Trust V, 5.450%, VAR ICE LIBOR USD 3 Month+3.790% | 110,922 | 2,828,511 | ||||||
SCE Trust VI, 5.000% | 175,418 | 4,374,925 | ||||||
Sempra Energy, 5.750% | 288,878 | 7,845,926 | ||||||
South Jersey Industries, 5.625% | 74,238 | 1,939,839 | ||||||
Southern, 6.750% | 332,268 | 17,231,418 | ||||||
Southern, 5.250% | 305,315 | 7,822,170 | ||||||
Southern, 5.250% | 166,536 | 4,388,224 | ||||||
Southern, 4.950% | 387,970 | 10,471,310 | ||||||
Southern, 4.200% | 286,916 | 7,267,582 | ||||||
Spire, 5.900% | 92,022 | 2,551,770 | ||||||
Tennessee Valley Authority, 2.216%, VAR US Treas Yield Curve Rate T Note Const Mat 30 Yr+0.840% | 85,351 | 2,225,101 | ||||||
Tennessee Valley Authority, 2.134%, VAR US Treas Yield Curve Rate T Note Const Mat 30 Yr+0.940% | 109,986 | 2,966,322 | ||||||
284,213,692 | ||||||||
TOTAL UNITED STATES | 1,743,876,189 |
23
Schedule of Investments
May 31, 2021 (Unaudited)
Global X U.S. Preferred ETF
Shares/Face Amount | Value | |||||||
PREFERRED STOCK — continued | ||||||||
TOTAL PREFERRED STOCK | ||||||||
(Cost $1,752,829,856) | $ | 1,801,723,000 | ||||||
SHORT-TERM INVESTMENT — 0.5%(B)(C) | ||||||||
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010% | ||||||||
(Cost $8,811,223) | 8,811,223 | 8,811,223 | ||||||
TOTAL SHORT-TERM INVESTMENT | ||||||||
(Cost $8,811,223) | 8,811,223 | |||||||
REPURCHASE AGREEMENT — 0.4%(B) | ||||||||
BNP Paribas | ||||||||
0.000%, dated 05/28/2021, to be repurchased on 06/01/2021, repurchase price $8,453,617 (collateralized by U.S. Treasury Obligations, ranging in par value $167,717 - $1,219,349, 2.000%, 10/31/2022, with a total market value of $8,618,547) | ||||||||
(Cost $8,453,617) | $ | 8,453,617 | 8,453,617 | |||||
TOTAL REPURCHASE AGREEMENT | ||||||||
(Cost $8,453,617) | 8,453,617 | |||||||
TOTAL INVESTMENTS — 100.2% | ||||||||
(Cost $1,770,094,696) | $ | 1,818,987,840 |
Percentages are based on Net Assets of $1,814,472,715.
‡ | Real Estate Investment Trust |
(A) | This security or a partial position of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $16,943,491. |
(B) | Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2021 was $17,264,840. |
(C) | The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2021. |
24
Schedule of Investments
May 31, 2021 (Unaudited)
Global X U.S. Preferred ETF
Cl — Class
ICE — Intercontinental Exchange
LIBOR — London Interbank Offered Rate
Ser — Series
USD – U.S. Dollar
VAR – Variable Rate
The following is a summary of the level of inputs used as of May 31, 2021, in valuing the Fund’s investments carried at value:
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Preferred Stock | $ | 1,801,723,000 | $ | — | $ | — | $ | 1,801,723,000 | ||||||||
Short-Term Investment | 8,811,223 | — | — | 8,811,223 | ||||||||||||
Repurchase Agreement | — | 8,453,617 | — | 8,453,617 | ||||||||||||
Total Investments in Securities | $ | 1,810,534,223 | $ | 8,453,617 | $ | — | $ | 1,818,987,840 |
For the period ended May 31, 2021, there have been no transfers in or out of Level 3.
25
Sector Weightings †:
† Sector weightings percentages are based on the total market value of investments.
Shares | Value | |||||||
PREFERRED STOCK — 99.3% | ||||||||
BERMUDA— 1.0% | ||||||||
Energy — 0.4% | ||||||||
Teekay LNG Partners, 8.500%, VAR ICE LIBOR USD 3 Month+6.241% | 4,452 | $ | 121,495 | |||||
Financials — 0.6% | ||||||||
Aspen Insurance Holdings, 5.950%, VAR ICE LIBOR USD 3 Month+4.060% | 7,203 | 189,583 | ||||||
TOTAL BERMUDA | 311,078 | |||||||
CANADA— 3.4% | ||||||||
Energy — 1.4% | ||||||||
Enbridge, 6.375%, VAR ICE LIBOR USD 3 Month+3.593% | 15,716 | 425,432 | ||||||
Industrials — 0.4% | ||||||||
Atlas, 8.000%, VAR ICE LIBOR USD 3 Month+5.008% | 3,929 | 105,022 | ||||||
Utilities — 1.6% | ||||||||
Algonquin Power & Utilities, 6.875%, VAR ICE LIBOR USD 3 Month+3.677% | 7,530 | 209,710 | ||||||
Algonquin Power & Utilities, 6.200%, VAR ICE LIBOR USD 3 Month+4.010% | 9,168 | 255,604 | ||||||
465,314 | ||||||||
TOTAL CANADA | 995,768 |
26
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Variable Rate Preferred ETF
Shares | Value | |||||||
PREFERRED STOCK — continued | ||||||||
NETHERLANDS— 0.6% | ||||||||
Financials — 0.6% | ||||||||
Aegon, 4.000%, VAR ICE LIBOR USD 3 Month+0.875% | 6,548 | $ | 165,468 | |||||
UNITED KINGDOM— 0.2% | ||||||||
Industrials — 0.2% | ||||||||
Altera Infrastructure, 8.875%, VAR ICE LIBOR USD 3 Month+6.407% | 3,001 | 69,473 | ||||||
UNITED STATES— 94.1% | ||||||||
Consumer Staples — 2.3% | ||||||||
CHS, Ser 2, 7.100%, VAR ICE LIBOR USD 3 Month+4.298% | 11,001 | 309,788 | ||||||
CHS, Ser 3, 6.750%, VAR ICE LIBOR USD 3 Month+4.155% | 12,900 | 354,492 | ||||||
664,280 | ||||||||
Energy — 6.4% | ||||||||
DCP Midstream, 7.875%, VAR ICE LIBOR USD 3 Month+4.919% | 4,224 | 102,136 | ||||||
Energy Transfer, 7.600%, VAR ICE LIBOR USD 3 Month+5.161% | 20,955 | 521,989 | ||||||
Energy Transfer, 7.400% | 11,655 | 291,142 | ||||||
Energy Transfer, 7.375%, VAR ICE LIBOR USD 3 Month+4.530% | 11,788 | 289,631 | ||||||
NGL Energy Partners, 9.000%, VAR ICE LIBOR USD 3 Month+7.213% | 8,241 | 112,572 | ||||||
NuStar Energy, 9.000%, VAR ICE LIBOR USD 3 Month+6.880% | 4,519 | 110,942 | ||||||
NuStar Energy, 7.625%, VAR ICE LIBOR USD 3 Month+5.643% | 10,085 | 211,382 | ||||||
NuStar Logistics, 6.918%, VAR ICE LIBOR USD 3 Month+6.734% | 10,543 | 263,470 | ||||||
1,903,264 | ||||||||
Financials — 80.4% | ||||||||
AGNC Investment, 7.000%, VAR ICE LIBOR USD 3 Month+5.111%‡ | 8,513 | 221,849 |
27
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Variable Rate Preferred ETF
Shares | Value | |||||||
PREFERRED STOCK — continued | ||||||||
Financials — continued | ||||||||
AGNC Investment, 6.875%, VAR ICE LIBOR USD 3 Month+4.332%‡ | 6,155 | $ | 158,183 | |||||
AGNC Investment, 6.500%, VAR ICE LIBOR USD 3 Month+4.993%‡ | 10,543 | 267,792 | ||||||
AGNC Investment, 6.125%, VAR ICE LIBOR USD 3 Month+4.697%‡ | 15,062 | 378,659 | ||||||
Allstate, 5.100%, VAR ICE LIBOR USD 3 Month+3.165% | 13,096 | 356,080 | ||||||
American Equity Investment Life Holding, 6.625%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+6.297% | 7,857 | 222,824 | ||||||
American Equity Investment Life Holding, 5.950%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+4.322% | 10,477 | 288,222 | ||||||
Annaly Capital Management, 6.950%, VAR ICE LIBOR USD 3 Month+4.993%‡ | 18,860 | 482,062 | ||||||
Annaly Capital Management, 6.750%, VAR ICE LIBOR USD 3 Month+4.989%‡ | 11,591 | 297,657 | ||||||
Annaly Capital Management, 6.500%, VAR ICE LIBOR USD 3 Month+4.172%‡ | 11,131 | 282,727 | ||||||
Argo Group International Holdings, 7.000%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+6.712% | 3,929 | 108,047 | ||||||
Athene Holding, 6.375%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+5.970% | 15,716 | 449,478 | ||||||
Athene Holding, 6.350%, VAR ICE LIBOR USD 3 Month+4.253% | 22,604 | 660,037 | ||||||
Bank of America, 6.450%, VAR ICE LIBOR USD 3 Month+1.327% | 24,628 | 665,202 | ||||||
Bank of America, 4.000%, VAR ICE LIBOR USD 3 Month+0.350% | 7,282 | 184,963 | ||||||
Bank of America, 4.000%, VAR ICE LIBOR USD 3 Month+0.500% | 9,892 | 250,169 | ||||||
Bank of America, 4.000%, VAR ICE LIBOR USD 3 Month+0.750% | 4,849 | 122,680 |
28
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Variable Rate Preferred ETF
Shares | Value | |||||||
PREFERRED STOCK — continued | ||||||||
Financials — continued | ||||||||
Bank of America, 3.000%, VAR ICE LIBOR USD 3 Month+0.650% | 6,874 | $ | 151,915 | |||||
Chimera Investment, 8.000%, VAR ICE LIBOR USD 3 Month+5.791%‡ | 8,513 | 214,187 | ||||||
Chimera Investment, 8.000%, VAR ICE LIBOR USD 3 Month+5.379%‡ | 5,239 | 131,970 | ||||||
Chimera Investment, 7.750%, VAR ICE LIBOR USD 3 Month+4.743%‡ | 6,811 | 170,003 | ||||||
Citigroup, 6.875%, VAR ICE LIBOR USD 3 Month+4.130% | 38,864 | 1,102,572 | ||||||
Citigroup, Ser J, 7.125%, VAR ICE LIBOR USD 3 Month+4.040% | 24,696 | 702,354 | ||||||
Citizens Financial Group, 6.350%, VAR ICE LIBOR USD 3 Month+3.642% | 7,857 | 225,339 | ||||||
Compass Diversified Holdings, 7.875%, VAR ICE LIBOR USD 3 Month+4.985% | 2,492 | 64,418 | ||||||
Enstar Group, 7.000%, VAR ICE LIBOR USD 3 Month+4.015% | 10,477 | 300,271 | ||||||
Fifth Third Bancorp, 6.625%, VAR ICE LIBOR USD 3 Month+3.710% | 11,788 | 337,373 | ||||||
Goldman Sachs Group, 6.375%, VAR ICE LIBOR USD 3 Month+3.550% | 18,196 | 528,594 | ||||||
Goldman Sachs Group, 5.500%, VAR ICE LIBOR USD 3 Month+3.640% | 25,996 | 708,391 | ||||||
Goldman Sachs Group, 4.000%, VAR ICE LIBOR USD 3 Month+0.670% | 35,095 | 874,567 | ||||||
Goldman Sachs Group, 4.000%, VAR ICE LIBOR USD 3 Month+0.750% | 5,199 | 131,795 | ||||||
Goldman Sachs Group, 3.750%, VAR ICE LIBOR USD 3 Month+0.750% | 19,497 | 472,607 | ||||||
Heartland Financial USA, 7.000%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+6.675% | 2,891 | 80,919 | ||||||
Invesco Mortgage Capital, 7.500%, VAR ICE LIBOR USD 3 Month+5.289%‡ | 7,530 | 188,401 |
29
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Variable Rate Preferred ETF
Shares | Value | |||||||
PREFERRED STOCK — continued | ||||||||
Financials — continued | ||||||||
KeyCorp, 6.125%, VAR ICE LIBOR USD 3 Month+3.892% | 13,096 | $ | 397,987 | |||||
Merchants Bancorp, 6.000%, VAR ICE LIBOR USD 3 Month+4.569% | 3,118 | 82,596 | ||||||
MetLife, 4.000%, VAR ICE LIBOR USD 3 Month+1.000% | 15,716 | 404,687 | ||||||
MFA Financial, 6.500%, VAR ICE LIBOR USD 3 Month+5.345%‡ | 7,203 | 165,381 | ||||||
Morgan Stanley, 6.375%, VAR ICE LIBOR USD 3 Month+3.708% | 23,015 | 664,903 | ||||||
Morgan Stanley, 5.850%, VAR ICE LIBOR USD 3 Month+3.491% | 23,015 | 668,356 | ||||||
Morgan Stanley, 4.000%, VAR ICE LIBOR USD 3 Month+0.700% | 25,316 | 632,394 | ||||||
Morgan Stanley, Ser E, 7.125%, VAR ICE LIBOR USD 3 Month+4.320% | 19,850 | 575,253 | ||||||
Morgan Stanley, Ser F, 6.875%, VAR ICE LIBOR USD 3 Month+3.940% | 19,562 | 555,561 | ||||||
New Residential Investment, 7.500%, VAR ICE LIBOR USD 3 Month+5.802%‡ | 4,067 | 102,082 | ||||||
New Residential Investment, 7.125%, VAR ICE LIBOR USD 3 Month+5.640%‡ | 7,399 | 182,903 | ||||||
New Residential Investment, 6.375%, VAR ICE LIBOR USD 3 Month+4.969%‡ | 10,543 | 244,703 | ||||||
New York Community Bancorp, 6.375%, VAR ICE LIBOR USD 3 Month+3.821% | 13,490 | 383,116 | ||||||
New York Mortgage Trust, 7.875%, VAR ICE LIBOR USD 3 Month+6.429%‡ | 4,853 | 122,101 | ||||||
PennyMac Mortgage Investment Trust, 8.000%, VAR ICE LIBOR USD 3 Month+5.990%‡ | 5,107 | 133,293 | ||||||
People’s United Financial, 5.625%, VAR ICE LIBOR USD 3 Month+4.020% | 6,548 | 184,981 | ||||||
Regions Financial, 5.700%, VAR ICE LIBOR USD 3 Month+3.148% | 13,096 | 369,700 |
30
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Variable Rate Preferred ETF
Shares | Value | |||||||
PREFERRED STOCK — continued | ||||||||
Financials — continued | ||||||||
Regions Financial, Ser B, 6.375%, VAR ICE LIBOR USD 3 Month+3.536% | 13,096 | $ | 378,736 | |||||
Reinsurance Group of America, 6.200%, VAR ICE LIBOR USD 3 Month+4.370% | 10,477 | 273,345 | ||||||
Reinsurance Group of America, 5.750%, VAR ICE LIBOR USD 3 Month+4.040% | 10,477 | 288,537 | ||||||
State Street, 5.900%, VAR ICE LIBOR USD 3 Month+3.108% | 19,645 | 559,686 | ||||||
State Street, 5.350%, VAR ICE LIBOR USD 3 Month+3.709% | 13,096 | 385,022 | ||||||
Synovus Financial, 6.300%, VAR ICE LIBOR USD 3 Month+3.352% | 5,239 | 138,729 | ||||||
Synovus Financial, 5.875%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+4.127% | 9,168 | 246,986 | ||||||
Truist Financial, 4.000%, VAR ICE LIBOR USD 3 Month+0.530% | 4,519 | 119,663 | ||||||
Two Harbors Investment, 8.125%, VAR ICE LIBOR USD 3 Month+5.660%‡ | 3,766 | 98,820 | ||||||
Two Harbors Investment, 7.625%, VAR ICE LIBOR USD 3 Month+5.352%‡ | 7,530 | 189,003 | ||||||
Two Harbors Investment, 7.250%, VAR ICE LIBOR USD 3 Month+5.011%‡ | 7,727 | 191,243 | ||||||
US Bancorp, 3.500%, VAR ICE LIBOR USD 3 Month+1.020% | 377 | 356,665 | ||||||
US Bancorp, 3.500%, VAR ICE LIBOR USD 3 Month+0.600% | 26,193 | 640,419 | ||||||
Voya Financial, 5.350%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+3.210% | 7,857 | 220,389 | ||||||
Wells Fargo, 6.625%, VAR ICE LIBOR USD 3 Month+3.690% | 21,837 | 628,250 | ||||||
Wells Fargo, 5.850%, VAR ICE LIBOR USD 3 Month+3.090% | 44,844 | 1,215,272 |
31
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Variable Rate Preferred ETF
Shares | Value | |||||||
PREFERRED STOCK — continued | ||||||||
Financials — continued | ||||||||
Wintrust Financial, 6.875%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+6.507% | 7,530 | $ | 214,153 | |||||
23,797,222 | ||||||||
Industrials — 2.6% | ||||||||
Air Lease, 6.150%, VAR ICE LIBOR USD 3 Month+3.650% | 6,548 | 174,963 | ||||||
Fortress Transportation and Infrastructure Investors, 8.250%, VAR ICE LIBOR USD 3 Month+6.886% | 2,737 | 71,682 | ||||||
Fortress Transportation and Infrastructure Investors, 8.000%, VAR ICE LIBOR USD 3 Month+6.447% | 3,219 | 82,084 | ||||||
WESCO International, 10.625%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+10.325% | 14,152 | 444,939 | ||||||
773,668 | ||||||||
Utilities — 2.4% | ||||||||
NiSource, 6.500%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+3.632% | 13,096 | 366,164 | ||||||
Tennessee Valley Authority, 2.216%, VAR US Treas Yield Curve Rate T Note Const Mat 30 Yr+0.840% | 6,078 | 158,454 | ||||||
Tennessee Valley Authority, 2.134%, VAR US Treas Yield Curve Rate T Note Const Mat 30 Yr+0.940% | 7,033 | 189,680 | ||||||
714,298 | ||||||||
TOTAL UNITED STATES | 27,852,732 | |||||||
TOTAL PREFERRED STOCK | ||||||||
(Cost $28,862,307) | 29,394,519 | |||||||
TOTAL INVESTMENTS — 99.3% | ||||||||
(Cost $28,862,307) | $ | 29,394,519 |
Percentages are based on Net Assets of $29,613,800.
‡ | Real Estate Investment Trust |
32
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Variable Rate Preferred ETF
ICE — Intercontinental Exchange
LIBOR — London Interbank Offered Rate
Ser — Series
USD – U.S. Dollar
VAR – Variable Rate
As of May 31, 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 period ended May 31, 2021, there have been no transfers in or out of Level 3.
33
Sector Weightings †:
† Sector weightings percentages are based on the total market value of investments.
Shares | Value | |||||||
MASTER LIMITED PARTNERSHIPS — 95.8% | ||||||||
UNITED STATES— 95.8% | ||||||||
Energy — 95.8% | ||||||||
BP Midstream Partners | 3,157,890 | $ | 44,652,565 | |||||
Cheniere Energy Partners | 1,098,505 | 45,324,316 | ||||||
Crestwood Equity Partners | 1,500,390 | 43,001,177 | ||||||
DCP Midstream | 1,729,746 | 43,537,707 | ||||||
Delek Logistics Partners | 542,386 | 23,751,083 | ||||||
Energy Transfer | 8,513,047 | 84,279,165 | ||||||
Enterprise Products Partners | 4,003,260 | 94,516,969 | ||||||
Genesis Energy | 4,762,794 | 44,484,496 | ||||||
Holly Energy Partners | 2,123,017 | 45,156,572 | ||||||
Magellan Midstream Partners | 1,558,609 | 76,823,838 | ||||||
MPLX | 2,332,714 | 66,785,602 | ||||||
NuStar Energy | 2,485,841 | 45,615,182 | ||||||
Oasis Midstream Partners | 1,419,820 | 40,109,915 | ||||||
PBF Logistics | 1,620,529 | 26,349,801 | ||||||
Phillips 66 Partners | 1,258,968 | 50,459,437 | ||||||
Plains All American Pipeline | 5,656,550 | 59,563,471 | ||||||
Shell Midstream Partners | 2,962,631 | 42,780,392 | ||||||
Western Midstream Partners | 2,186,613 | 43,688,528 | ||||||
TOTAL MASTER LIMITED PARTNERSHIP | ||||||||
(Cost $652,494,313) | 920,880,216 | |||||||
COMMON STOCK — 4.2% | ||||||||
UNITED STATES— 4.2% | ||||||||
Energy — 4.2% | ||||||||
EnLink Midstream | 4,006,581 | 19,552,116 |
34
Schedule of Investments
May 31, 2021 (Unaudited)
Global X MLP ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Energy — continued | ||||||||
Hess Midstream, Cl A | 820,830 | $ | 20,906,540 | |||||
TOTAL COMMON STOCK | ||||||||
(Cost $39,173,227) | 40,458,656 | |||||||
TOTAL INVESTMENTS — 100.0% | ||||||||
(Cost $691,667,540) | $ | 961,338,872 |
Percentages are based on Net Assets of $961,716,152.
Cl — Class
As of May 31, 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 period ended May 31, 2021, there have been no transfers in or out of Level 3.
35
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 — 76.1% | ||||||||
CANADA— 22.5% | ||||||||
Energy — 22.5% | ||||||||
Enbridge | 1,883,561 | $ | 72,479,427 | |||||
Pembina Pipeline (A) | 1,150,621 | 37,188,071 | ||||||
TC Energy | 1,452,207 | 74,149,689 | ||||||
Total Energy | 183,817,187 | |||||||
TOTAL CANADA | 183,817,187 | |||||||
UNITED STATES— 53.6% | ||||||||
Energy — 53.6% | ||||||||
Antero Midstream | 3,783,154 | 36,318,278 | ||||||
Archrock | 2,559,958 | 23,551,614 | ||||||
Cheniere Energy * | 631,898 | 53,648,140 | ||||||
EnLink Midstream | 4,384,964 | 21,398,624 | ||||||
Equitrans Midstream | 4,465,086 | 36,792,309 | ||||||
Kinder Morgan | 3,995,898 | 73,284,769 | ||||||
ONEOK | 1,049,668 | 55,359,490 | ||||||
Plains GP Holdings, Cl A | 3,117,594 | 34,012,951 | ||||||
Targa Resources | 951,668 | 36,981,819 | ||||||
Williams | 2,519,652 | 66,367,634 | ||||||
Total Energy | 437,715,628 |
36
Schedule of Investments
May 31, 2021 (Unaudited)
Global X MLP & Energy Infrastructure ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
TOTAL UNITED STATES | $ | 437,715,628 | ||||||
TOTAL COMMON STOCK | ||||||||
(Cost $551,082,300) | 621,532,815 | |||||||
MASTER LIMITED PARTNERSHIPS — 23.7% | ||||||||
UNITED STATES— 23.7% | ||||||||
Energy — 23.7% | ||||||||
Cheniere Energy Partners | 126,713 | 5,228,178 | ||||||
DCP Midstream | 278,653 | 7,013,696 | ||||||
Enable Midstream Partners | 271,941 | 2,300,621 | ||||||
Energy Transfer | 3,625,863 | 35,896,044 | ||||||
Enterprise Products Partners | 1,534,423 | 36,227,727 | ||||||
Holly Energy Partners | 140,804 | 2,994,901 | ||||||
Magellan Midstream Partners | 699,456 | 34,476,186 | ||||||
MPLX | 979,064 | 28,030,602 | ||||||
Phillips 66 Partners | 180,854 | 7,248,628 | ||||||
Plains All American Pipeline | 1,454,052 | 15,311,168 | ||||||
Shell Midstream Partners | 387,734 | 5,598,879 | ||||||
Western Midstream Partners | 655,577 | 13,098,429 | ||||||
TOTAL MASTER LIMITED PARTNERSHIP | ||||||||
(Cost $149,203,987) | 193,425,059 | |||||||
SHORT-TERM INVESTMENT(B)(C) — 0.8% | ||||||||
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010% | ||||||||
(Cost $6,144,595) | 6,144,595 | 6,144,595 | ||||||
37
Schedule of Investments
May 31, 2021 (Unaudited)
Global X MLP & Energy Infrastructure ETF
Face Amount | Value | |||||||
REPURCHASE AGREEMENT(B) — 0.7% | ||||||||
BNP Paribas | ||||||||
0.000%, dated 05/28/2021, to be repurchased on 06/01/2021, repurchase price $5,895,215 (collateralized by U.S. Treasury Obligations, ranging in par value $116,959 - $850,325, 2.000%, 10/31/2022, with a total market value of $6,010,229) | ||||||||
(Cost $5,895,215) | $ | 5,895,215 | $ | 5,895,215 | ||||
TOTAL INVESTMENTS — 101.3% | ||||||||
(Cost $712,326,097) | $ | 826,997,684 |
Percentages are based on Net Assets of $816,171,876.
* | Non-income producing security. |
(A) | This security or a partial position of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $11,703,072. |
(B) | Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2021 was $12,039,810. |
(C) | The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2021. |
Cl — Class
The following is a summary of the level of inputs used as of May 31, 2021, in valuing the Fund’s investments carried at value:
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | 621,532,815 | $ | — | $ | — | $ | 621,532,815 | ||||||||
Master Limited Partnerships | 193,425,059 | — | — | 193,425,059 | ||||||||||||
Short-Term Investment | 6,144,595 | — | — | 6,144,595 | ||||||||||||
Repurchase Agreement | — | 5,895,215 | — | 5,895,215 | ||||||||||||
Total Investments in Securities | $ | 821,102,469 | $ | 5,895,215 | $ | — | $ | 826,997,684 |
For the period ended May 31, 2021, there have been no transfers in or out of Level 3.
38
Sector Weightings †:
† Sector weightings percentages are based on the total market value of investments.
Shares | Value | |||||||
EXCHANGE TRADED FUNDS — 100.0% | ||||||||
Global X MLP & Energy Infrastructure ETF (A) | 11,453 | $ | 399,480 | |||||
Global X SuperDividend® ETF (A) | 100,161 | 1,436,309 | ||||||
Global X SuperDividend® U.S. ETF (A) | 73,858 | 1,484,546 | ||||||
Global X U.S. Preferred ETF (A) | 54,058 | 1,394,156 | ||||||
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 31,841 | 1,014,773 | ||||||
Xtrackers USD High Yield Corporate Bond ETF | 33,901 | 1,355,701 | ||||||
TOTAL EXCHANGE TRADED FUNDS | ||||||||
(Cost $6,908,262) | 7,084,965 | |||||||
TOTAL INVESTMENTS — 100.0% | ||||||||
(Cost $6,908,262) | $ | 7,084,965 |
Percentages are based on Net Assets of $7,085,494.
(A) | Affiliated investment. |
EM — Emerging Markets
ETF — Exchange Traded Fund
MLP — Master Limited Partnership
USD — U.S. Dollar
As of May 31, 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 period ended May 31, 2021, there have been no transfers in or out of Level 3.
39
Schedule of Investments
May 31, 2021 (Unaudited)
Global X TargetIncomeTM 5 ETF
The following is a summary of the Fund’s transactions with affiliates for the period ended May 31, 2021:
Value at 11/30/2020 | Purchases at Cost | Proceeds from Sales | Changes in Unrealized Appreciation | Realized Gain | Value at 5/31/2021 | Shares | Dividend Income | |||||||||||||||||||||||||
Global X MLP & Energy Infrastructure ETF | $ | 0 | $ | 403,774 | $ | (38,016 | ) | $ | 33,259 | $ | 463 | $ | 399,480 | 11,453 | $ | 5,559 | ||||||||||||||||
Global X SuperDividend® ETF | $ | 985,182 | $ | 1,105,097 | $ | (834,787 | ) | $ | 145,906 | $ | 34,911 | $ | 1,436,309 | 100,161 | $ | 40,128 | ||||||||||||||||
Global X SuperDividend® U.S. ETF | $ | 233,537 | $ | 1,517,332 | $ | (401,811 | ) | $ | 73,660 | $ | 61,828 | $ | 1,484,546 | 73,858 | $ | 19,566 | ||||||||||||||||
Global X U.S. Preferred ETF | $ | 0 | $ | 1,525,253 | $ | (143,085 | ) | $ | 11,764 | $ | 224 | $ | 1,394,156 | 54,058 | $ | 9,959 | ||||||||||||||||
Totals: | $ | 1,218,719 | $ | 4,551,456 | $ | (1,417,699 | ) | $ | 264,589 | $ | 97,426 | $ | 4,714,491 | 239,530 | $ | 75,212 |
40
Sector Weightings †:
† Sector weightings percentages are based on the total market value of investments.
Shares | Value | |||||||
EXCHANGE TRADED FUNDS — 99.8% | ||||||||
Global X SuperDividend® ETF (A) | 43,723 | $ | 626,988 | |||||
Global X U.S. Preferred ETF (A) | 11,788 | 304,013 | ||||||
iShares 20+ Year Treasury Bond ETF | 6,166 | 853,621 | ||||||
iShares Core U.S. Aggregate Bond ETF | 5,097 | 583,861 | ||||||
SPDR Blackstone Senior Loan ETF | 25,582 | 1,181,377 | ||||||
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 37,098 | 1,182,313 | ||||||
Xtrackers USD High Yield Corporate Bond ETF | 29,616 | 1,184,344 | ||||||
TOTAL EXCHANGE TRADED FUNDS | ||||||||
(Cost $5,961,493) | 5,916,517 | |||||||
TOTAL INVESTMENTS — 99.8% | ||||||||
(Cost $5,961,493) | $ | 5,916,517 |
Percentages are based on Net Assets of $5,925,628.
(A) | Affiliated investment. |
EM — Emerging Markets
ETF — Exchange Traded Fund
SPDR — Standard & Poor’s Depository Receipts
USD — U.S. Dollar
As of May 31, 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 period ended May 31, 2021, there have been no transfers in or out of Level 3.
41
Schedule of Investments
May 31, 2021 (Unaudited)
Global X TargetIncomeTM Plus 2 ETF
The following is a summary of the Fund’s transactions with affiliates for the period ended May 31, 2021:
Value at 11/30/2020 | Purchases at Cost | Proceeds from Sales | Changes in Unrealized Appreciation | Realized Gain/(Loss) | Value at 5/31/2021 | Shares | Dividend Income | |||||||||||||||||||||||||
Global X SuperDividend® ETF | $ | 0 | $ | 682,394 | $ | (73,034 | ) | $ | 17,663 | $ | (35 | ) | $ | 626,988 | 43,723 | $ | 6,617 | |||||||||||||||
Global X U.S. Preferred ETF | $ | 0 | $ | 337,658 | $ | (36,317 | ) | $ | 2,568 | $ | 104 | $ | 304,013 | 11,788 | $ | 2,209 | ||||||||||||||||
Totals: | $ | 0 | $ | 1,020,052 | $ | (109,351 | ) | $ | 20,231 | $ | 69 | $ | 931,001 | 55,511 | $ | 8,826 |
42
Sector Weightings †:
† Sector weightings percentages are based on the total market value of investments.
Shares | Value | |||||||
COMMON STOCK — 99.8% | ||||||||
CANADA— 0.6% | ||||||||
Financials — 0.6% | ||||||||
Toronto-Dominion Bank | 35,317 | $ | 2,546,356 | |||||
UNITED STATES— 99.2% | ||||||||
Communication Services — 8.1% | ||||||||
Alphabet, Cl A * | 5,573 | 13,134,726 | ||||||
AT&T | 75,765 | 2,229,764 | ||||||
Comcast, Cl A | 43,736 | 2,507,822 | ||||||
Discovery, Cl A * | 61,959 | 1,989,503 | ||||||
Facebook, Cl A * | 15,749 | 5,177,169 | ||||||
Netflix * | 4,704 | 2,365,218 | ||||||
Omnicom Group | 29,294 | 2,409,139 | ||||||
T-Mobile US * | 17,845 | 2,524,175 | ||||||
Verizon Communications | 41,521 | 2,345,521 | ||||||
Walt Disney * | 12,880 | 2,301,012 | ||||||
36,984,049 | ||||||||
Consumer Discretionary — 12.2% | ||||||||
Amazon.com * | 4,169 | 13,436,979 |
43
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Conscious Companies ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Consumer Discretionary — continued | ||||||||
Best Buy | 20,212 | $ | 2,349,443 | |||||
Booking Holdings * | 1,001 | 2,363,912 | ||||||
BorgWarner | 46,737 | 2,397,141 | ||||||
Choice Hotels International | 21,548 | 2,605,368 | ||||||
Darden Restaurants | 16,523 | 2,366,588 | ||||||
eBay | 39,931 | 2,430,999 | ||||||
Etsy * | 11,076 | 1,824,549 | ||||||
General Motors * | 41,358 | 2,452,943 | ||||||
Hilton Worldwide Holdings * | 18,682 | 2,340,294 | ||||||
Home Depot | 7,357 | 2,346,221 | ||||||
Lowe’s | 11,859 | 2,310,489 | ||||||
Marriott International, Cl A * | 16,039 | 2,302,880 | ||||||
NIKE, Cl B | 18,270 | 2,493,125 | ||||||
Ross Stores | 18,461 | 2,333,286 | ||||||
Starbucks | 20,274 | 2,308,803 | ||||||
Target | 11,640 | 2,641,349 | ||||||
VF | 26,556 | 2,117,044 | ||||||
Whirlpool | 10,020 | 2,375,642 | ||||||
55,797,055 | ||||||||
Consumer Staples — 8.9% | ||||||||
Campbell Soup | 47,847 | 2,328,713 | ||||||
Church & Dwight | 27,162 | 2,328,598 | ||||||
Clorox | 12,608 | 2,228,212 | ||||||
Coca-Cola | 43,668 | 2,414,404 | ||||||
Colgate-Palmolive | 29,817 | 2,498,068 | ||||||
Costco Wholesale | 6,368 | 2,408,823 | ||||||
Estee Lauder, Cl A | 7,592 | 2,327,100 | ||||||
General Mills | 39,811 | 2,502,519 | ||||||
Hershey | 15,047 | 2,603,884 | ||||||
Hormel Foods | 51,273 | 2,488,791 | ||||||
J M Smucker | 18,327 | 2,442,806 | ||||||
Kellogg | 38,220 | 2,503,028 | ||||||
Kimberly-Clark | 18,006 | 2,352,124 |
44
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Conscious Companies ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Consumer Staples — continued | ||||||||
McCormick | 25,999 | $ | 2,315,471 | |||||
PepsiCo | 16,117 | 2,384,349 | ||||||
Procter & Gamble | 17,762 | 2,395,206 | ||||||
Walgreens Boots Alliance | 44,868 | 2,362,749 | ||||||
40,884,845 | ||||||||
Energy — 1.6% | ||||||||
Chevron | 23,433 | 2,432,111 | ||||||
ConocoPhillips | 47,925 | 2,671,340 | ||||||
ONEOK | 47,100 | 2,484,054 | ||||||
7,587,505 | ||||||||
Financials — 10.6% | ||||||||
Aflac | 45,930 | 2,603,312 | ||||||
Allstate | 19,029 | 2,599,552 | ||||||
American Express | 16,509 | 2,643,586 | ||||||
Bank of America | 60,821 | 2,578,202 | ||||||
BlackRock, Cl A | 2,931 | 2,570,604 | ||||||
Capital One Financial | 17,567 | 2,824,422 | ||||||
Citigroup | 33,374 | 2,626,867 | ||||||
FactSet Research Systems | 6,991 | 2,337,511 | ||||||
Hartford Financial Services Group | 34,862 | 2,278,232 | ||||||
JPMorgan Chase | 15,872 | 2,606,817 | ||||||
Moody’s | 7,272 | 2,438,665 | ||||||
Morgan Stanley | 30,082 | 2,735,959 | ||||||
Northern Trust | 21,763 | 2,637,458 | ||||||
PNC Financial Services Group | 13,384 | 2,605,597 | ||||||
Progressive | 24,155 | 2,393,277 | ||||||
Prudential Financial | 24,196 | 2,588,246 | ||||||
S&P Global | 6,130 | 2,326,151 | ||||||
T Rowe Price Group | 13,345 | 2,553,566 | ||||||
US Bancorp | 41,638 | 2,530,758 | ||||||
48,478,782 | ||||||||
Health Care — 14.4% | ||||||||
Abbott Laboratories | 19,292 | 2,250,412 |
45
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Conscious Companies ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Health Care — continued | ||||||||
AbbVie | 21,353 | $ | 2,417,160 | |||||
Agilent Technologies | 17,614 | 2,433,022 | ||||||
Amgen | 9,041 | 2,151,216 | ||||||
Becton Dickinson | 9,293 | 2,247,884 | ||||||
Biogen Idec * | 9,058 | 2,422,834 | ||||||
Boston Scientific * | 55,672 | 2,368,844 | ||||||
Bristol-Myers Squibb | 36,028 | 2,367,760 | ||||||
Edwards Lifesciences * | 24,443 | 2,344,084 | ||||||
Eli Lilly | 12,596 | 2,515,924 | ||||||
Gilead Sciences | 36,319 | 2,401,049 | ||||||
Humana | 5,310 | 2,324,187 | ||||||
IDEXX Laboratories * | 4,257 | 2,375,873 | ||||||
Illumina * | 5,734 | 2,325,940 | ||||||
IQVIA Holdings * | 10,259 | 2,463,801 | ||||||
Johnson & Johnson | 14,378 | 2,433,477 | ||||||
Masimo * | 9,648 | 2,080,109 | ||||||
Merck | 30,551 | 2,318,515 | ||||||
Mettler-Toledo International * | 1,789 | 2,327,400 | ||||||
PerkinElmer | 17,627 | 2,557,148 | ||||||
Pfizer | 60,987 | 2,362,027 | ||||||
Quest Diagnostics | 17,926 | 2,360,316 | ||||||
Regeneron Pharmaceuticals * | 4,864 | 2,443,819 | ||||||
Stryker | 8,910 | 2,274,456 | ||||||
Thermo Fisher Scientific | 4,869 | 2,285,996 | ||||||
Vertex Pharmaceuticals * | 10,911 | 2,276,362 | ||||||
Waters * | 7,770 | 2,503,882 | ||||||
Zoetis, Cl A | 13,648 | 2,411,329 | ||||||
66,044,826 | ||||||||
Industrials — 10.3% | ||||||||
3M | 11,766 | 2,388,969 | ||||||
Caterpillar | 10,339 | 2,492,526 | ||||||
Cummins | 9,272 | 2,385,500 | ||||||
Deere | 6,324 | 2,283,596 |
46
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Conscious Companies ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Industrials — continued | ||||||||
FedEx | 8,787 | $ | 2,766,235 | |||||
Honeywell International | 10,595 | 2,446,491 | ||||||
Illinois Tool Works | 10,411 | 2,412,853 | ||||||
Owens Corning | 24,865 | 2,651,852 | ||||||
Raytheon Technologies | 29,544 | 2,620,848 | ||||||
Republic Services, Cl A | 22,360 | 2,441,265 | ||||||
Rockwell Automation | 8,843 | 2,332,076 | ||||||
Southwest Airlines * | 38,725 | 2,380,039 | ||||||
Union Pacific | 10,755 | 2,416,971 | ||||||
United Parcel Service, Cl B | 13,318 | 2,858,043 | ||||||
Verisk Analytics, Cl A | 12,587 | 2,175,411 | ||||||
Waste Connections | 20,177 | 2,450,295 | ||||||
Waste Management | 17,622 | 2,479,063 | ||||||
WW Grainger | 5,622 | 2,598,264 | ||||||
Xylem | 21,699 | 2,563,087 | ||||||
47,143,384 | ||||||||
Information Technology — 24.2% | ||||||||
Accenture, Cl A | 8,159 | 2,302,143 | ||||||
Adobe * | 4,711 | 2,377,076 | ||||||
Advanced Micro Devices * | 28,740 | 2,301,499 | ||||||
Akamai Technologies * | 22,234 | 2,539,345 | ||||||
Analog Devices | 14,958 | 2,462,087 | ||||||
Apple | 168,325 | 20,974,978 | ||||||
Applied Materials | 17,671 | 2,440,895 | ||||||
Arista Networks * | 7,466 | 2,533,811 | ||||||
Automatic Data Processing | 12,141 | 2,379,879 | ||||||
Cisco Systems | 45,829 | 2,424,354 | ||||||
Cognizant Technology Solutions, Cl A | 30,229 | 2,163,187 | ||||||
F5 Networks * | 11,350 | 2,104,631 | ||||||
Intel | 39,362 | 2,248,357 | ||||||
Intuit | 5,745 | 2,522,572 | ||||||
Jack Henry & Associates | 14,019 | 2,161,029 | ||||||
Keysight Technologies * | 16,099 | 2,292,176 |
47
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Conscious Companies ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Information Technology — continued | ||||||||
Lam Research | 3,814 | $ | 2,478,528 | |||||
Littelfuse | 8,625 | 2,253,195 | ||||||
Mastercard, Cl A | 6,144 | 2,215,404 | ||||||
Micron Technology * | 27,121 | 2,281,961 | ||||||
Microsoft | 79,444 | 19,835,579 | ||||||
NVIDIA | 3,909 | 2,539,991 | ||||||
ON Semiconductor * | 55,999 | 2,242,200 | ||||||
Oracle | 31,728 | 2,498,263 | ||||||
Paychex | 23,972 | 2,424,528 | ||||||
Paycom Software * | 5,953 | 1,962,109 | ||||||
QUALCOMM | 17,572 | 2,364,137 | ||||||
salesforce.com * | 10,190 | 2,426,239 | ||||||
Square, Cl A * | 9,952 | 2,214,519 | ||||||
Texas Instruments | 12,859 | 2,440,895 | ||||||
Visa, Cl A | 10,361 | 2,355,055 | ||||||
Workday, Cl A * | 9,527 | 2,179,015 | ||||||
110,939,637 | ||||||||
Materials — 2.7% | ||||||||
Air Products & Chemicals | 8,186 | 2,453,016 | ||||||
Ecolab | 10,620 | 2,284,150 | ||||||
International Flavors & Fragrances | 16,451 | 2,330,613 | ||||||
Newmont | 36,114 | 2,653,657 | ||||||
Steel Dynamics | 45,926 | 2,867,160 | ||||||
12,588,596 | ||||||||
Real Estate — 2.7% | ||||||||
American Tower, Cl A ‡ | 9,360 | 2,391,106 | ||||||
CBRE Group, Cl A * | 28,738 | 2,522,622 | ||||||
Equinix ‡ | 3,309 | 2,437,806 | ||||||
Jones Lang LaSalle * | 13,371 | 2,704,284 | ||||||
ProLogis ‡ | 20,744 | 2,444,473 | ||||||
12,500,291 | ||||||||
Utilities — 3.5% | ||||||||
American Water Works | 14,934 | 2,315,069 |
48
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Conscious Companies ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Utilities — continued | ||||||||
Duke Energy | 23,826 | $ | 2,387,841 | |||||
Entergy | 22,296 | 2,346,877 | ||||||
Exelon | 52,391 | 2,363,882 | ||||||
NextEra Energy | 30,398 | 2,225,742 | ||||||
Sempra Energy | 17,362 | 2,352,377 | ||||||
WEC Energy Group | 24,569 | 2,307,275 | ||||||
16,299,063 | ||||||||
TOTAL UNITED STATES | 455,248,033 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $355,092,252) | 457,794,389 | |||||||
TOTAL INVESTMENTS — 99.8% | ||||||||
(Cost $355,092,252) | $ | 457,794,389 |
Percentages are based on Net Assets of $458,846,274.
* | Non-income producing security. |
‡ | Real Estate Investment Trust |
Cl — Class
S&P — Standard & Poor’s
As of May 31, 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 period ended May 31, 2021, there have been no transfers in or out of Level 3.
49
Sector Weightings †:
† Sector weightings percentages are based on the total market value of investments.
Shares | Value | |||||||
COMMON STOCK — 99.7% | ||||||||
IRELAND— 0.6% | ||||||||
Information Technology — 0.6% | ||||||||
Seagate Technology Holdings | 10,272 | $ | 983,544 | |||||
UNITED STATES— 99.1% | ||||||||
Communication Services — 7.7% | ||||||||
AT&T | 66,343 | 1,952,475 | ||||||
Cable One | 106 | 192,449 | ||||||
Charter Communications, Cl A * | 2,785 | 1,934,266 | ||||||
DISH Network, Cl A * | 21,040 | 915,661 | ||||||
Electronic Arts | 787 | 112,486 | ||||||
Fox, Cl A | 22,312 | 833,353 | ||||||
Interpublic Group | 28,069 | 945,645 | ||||||
Liberty Broadband, Cl C * | 1,473 | 244,945 | ||||||
Lumen Technologies | 66,778 | 924,208 | ||||||
Nexstar Media Group, Cl A | 5,596 | 850,088 | ||||||
T-Mobile US * | 2,235 | 316,141 | ||||||
Verizon Communications | 59,190 | 3,343,643 | ||||||
ViacomCBS, Cl B | 21,089 | 894,595 |
50
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Factor ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Communication Services — continued | ||||||||
Walt Disney * | 673 | $ | 120,232 | |||||
Zynga, Cl A * | 13,635 | 147,803 | ||||||
13,727,990 | ||||||||
Consumer Discretionary — 5.8% | ||||||||
AutoZone * | 167 | 234,902 | ||||||
Dick’s Sporting Goods | 10,184 | 993,245 | ||||||
Dollar General | 1,101 | 223,459 | ||||||
frontdoor * | 7,582 | 407,153 | ||||||
Garmin | 18,569 | 2,641,254 | ||||||
H&R Block | 38,802 | 963,066 | ||||||
McDonald’s | 11,112 | 2,598,986 | ||||||
Qurate Retail, Cl A * | 72,060 | 982,178 | ||||||
Starbucks | 1,111 | 126,521 | ||||||
Whirlpool | 3,668 | 869,646 | ||||||
Yum! Brands | 2,534 | 304,004 | ||||||
10,344,414 | ||||||||
Consumer Staples — 11.2% | ||||||||
Altria Group | 18,106 | 891,177 | ||||||
Archer-Daniels-Midland | 14,677 | 976,461 | ||||||
BJ’s Wholesale Club Holdings * | 2,811 | 125,905 | ||||||
Bunge | 10,406 | 903,449 | ||||||
Church & Dwight | 2,116 | 181,405 | ||||||
Clorox | 703 | 124,241 | ||||||
Coca-Cola | 35,878 | 1,983,695 | ||||||
Costco Wholesale | 759 | 287,107 | ||||||
Flowers Foods | 95,249 | 2,294,548 | ||||||
Hershey | 839 | 145,189 | ||||||
Hormel Foods | 2,554 | 123,971 | ||||||
Ingredion | 9,281 | 881,045 | ||||||
J M Smucker | 6,445 | 859,054 | ||||||
Kraft Heinz | 20,715 | 902,967 | ||||||
Kroger | 90,783 | 3,357,155 |
51
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Factor ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Consumer Staples — continued | ||||||||
Mondelez International, Cl A | 2,720 | $ | 172,802 | |||||
PepsiCo | 6,847 | 1,012,945 | ||||||
Procter & Gamble | 2,202 | 296,940 | ||||||
Tyson Foods, Cl A | 10,829 | 860,906 | ||||||
Walgreens Boots Alliance | 15,937 | 839,242 | ||||||
Walmart | 18,276 | 2,595,740 | ||||||
19,815,944 | ||||||||
Energy — 4.3% | ||||||||
Baker Hughes, Cl A | 44,058 | 1,075,015 | ||||||
Chevron | 8,383 | 870,072 | ||||||
ConocoPhillips | 17,211 | 959,341 | ||||||
Exxon Mobil | 15,678 | 915,125 | ||||||
Kinder Morgan | 51,613 | 946,582 | ||||||
ONEOK | 16,514 | 870,948 | ||||||
Valero Energy | 12,253 | 985,141 | ||||||
Williams | 36,567 | 963,175 | ||||||
7,585,399 | ||||||||
Financials — 24.0% | ||||||||
Aflac | 16,105 | 912,831 | ||||||
AGNC Investment ‡ | 198,332 | 3,677,075 | ||||||
Annaly Capital Management ‡ | 40,887 | 379,022 | ||||||
Aon, Cl A | 539 | 136,566 | ||||||
Arthur J Gallagher | 18,826 | 2,760,080 | ||||||
Bank of New York Mellon | 18,283 | 952,179 | ||||||
Bank OZK | 21,692 | 926,465 | ||||||
Berkshire Hathaway, Cl B * | 487 | 140,957 | ||||||
Blackstone Mortgage Trust, Cl A ‡ | 26,561 | 850,749 | ||||||
Citigroup | 12,416 | 977,263 | ||||||
Citizens Financial Group | 19,587 | 977,391 | ||||||
Comerica | 12,440 | 976,416 | ||||||
Erie Indemnity, Cl A | 473 | 95,134 | ||||||
Fifth Third Bancorp | 23,053 | 971,453 |
52
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Factor ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Financials — continued | ||||||||
First Horizon | 48,694 | $ | 928,595 | |||||
Huntington Bancshares | 55,578 | 881,467 | ||||||
Invesco | 32,692 | 932,703 | ||||||
Jefferies Financial Group | 26,641 | 855,975 | ||||||
KeyCorp | 42,931 | 989,130 | ||||||
Lincoln National | 13,548 | 945,515 | ||||||
Marsh & McLennan | 20,253 | 2,802,003 | ||||||
MetLife | 13,753 | 898,896 | ||||||
MGIC Investment | 59,614 | 877,518 | ||||||
Morningstar | 908 | 214,279 | ||||||
New York Community Bancorp | 70,206 | 840,366 | ||||||
Old Republic International | 36,045 | 946,542 | ||||||
PacWest Bancorp | 21,648 | 977,840 | ||||||
People’s United Financial | 48,397 | 915,187 | ||||||
Principal Financial Group | 13,694 | 895,451 | ||||||
Progressive | 1,310 | 129,795 | ||||||
Prudential Financial | 8,796 | 940,908 | ||||||
Radian Group | 35,686 | 833,268 | ||||||
Regions Financial | 41,919 | 981,324 | ||||||
Reinsurance Group of America, Cl A | 6,546 | 824,992 | ||||||
Starwood Property Trust ‡ | 33,943 | 861,813 | ||||||
State Street | 10,746 | 934,687 | ||||||
Synovus Financial | 18,755 | 921,246 | ||||||
TCF Financial | 18,660 | 886,350 | ||||||
Truist Financial | 15,174 | 937,450 | ||||||
United Bankshares | 22,105 | 910,505 | ||||||
Unum Group | 30,349 | 939,909 | ||||||
Valley National Bancorp | 63,854 | 914,389 | ||||||
W R Berkley | 1,712 | 133,519 | ||||||
Wells Fargo | 19,922 | 930,756 | ||||||
Zions Bancorp | 16,053 | 929,148 | ||||||
42,645,107 |
53
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Factor ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Health Care — 12.3% | ||||||||
AbbVie | 7,773 | $ | 879,904 | |||||
Bio-Rad Laboratories, Cl A * | 1,356 | 816,814 | ||||||
Bristol-Myers Squibb | 1,720 | 113,038 | ||||||
Cardinal Health | 13,961 | 782,793 | ||||||
Centene * | 13,158 | 968,429 | ||||||
Cerner | 11,468 | 897,371 | ||||||
Chemed | 350 | 171,969 | ||||||
Cigna | 3,403 | 880,867 | ||||||
CVS Health | 11,230 | 970,721 | ||||||
Danaher | 1,181 | 302,501 | ||||||
Eli Lilly | 1,260 | 251,672 | ||||||
Johnson & Johnson | 14,937 | 2,528,087 | ||||||
Medtronic | 1,752 | 221,786 | ||||||
Merck | 17,284 | 1,311,683 | ||||||
Perrigo | 20,165 | 930,413 | ||||||
Pfizer | 87,057 | 3,371,718 | ||||||
Premier, Cl A | 67,353 | 2,222,649 | ||||||
QIAGEN * | 42,386 | 2,092,173 | ||||||
Quest Diagnostics | 8,482 | 1,116,825 | ||||||
Universal Health Services, Cl B | 5,899 | 941,657 | ||||||
Viatris, Cl W * | 9,782 | 149,078 | ||||||
21,922,148 | ||||||||
Industrials — 11.2% | ||||||||
Air Lease, Cl A | 18,353 | 863,692 | ||||||
AMERCO * | 217 | 124,784 | ||||||
CH Robinson Worldwide | 24,975 | 2,423,074 | ||||||
CoreLogic | 32,319 | 2,569,361 | ||||||
FTI Consulting * | 1,037 | 142,639 | ||||||
General Dynamics | 4,636 | 880,423 | ||||||
Huntington Ingalls Industries | 4,130 | 892,947 | ||||||
Knight-Swift Transportation Holdings, Cl A | 18,504 | 883,196 | ||||||
L3Harris Technologies | 731 | 159,402 |
54
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Factor ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Industrials — continued | ||||||||
Lockheed Martin | 6,661 | $ | 2,545,834 | |||||
ManpowerGroup | 7,534 | 911,539 | ||||||
Northrop Grumman | 395 | 144,519 | ||||||
nVent Electric | 29,017 | 944,213 | ||||||
Raytheon Technologies | 10,925 | 969,157 | ||||||
Republic Services, Cl A | 24,374 | 2,661,153 | ||||||
Waste Management | 19,040 | 2,678,547 | ||||||
Watsco | 610 | 177,754 | ||||||
19,972,234 | ||||||||
Information Technology — 12.0% | ||||||||
Accenture, Cl A | 895 | 252,533 | ||||||
Akamai Technologies * | 1,142 | 130,428 | ||||||
Amdocs | 44,368 | 3,465,141 | ||||||
Automatic Data Processing | 992 | 194,452 | ||||||
Black Knight * | 3,406 | 249,966 | ||||||
Cisco Systems | 16,587 | 877,452 | ||||||
Citrix Systems | 16,128 | 1,854,075 | ||||||
Fidelity National Information Services | 14,573 | 2,171,086 | ||||||
Hewlett Packard Enterprise | 53,875 | 859,845 | ||||||
Intel | 13,387 | 764,665 | ||||||
International Business Machines | 5,970 | 858,128 | ||||||
Jack Henry & Associates | 12,959 | 1,997,630 | ||||||
Juniper Networks | 33,705 | 887,453 | ||||||
Motorola Solutions | 898 | 184,368 | ||||||
NortonLifeLock | 115,004 | 3,181,011 | ||||||
Paychex | 8,771 | 887,099 | ||||||
Tyler Technologies * | 5,445 | 2,195,206 | ||||||
Zoom Video Communications, Cl A * | 1,202 | 398,499 | ||||||
21,409,037 | ||||||||
Materials — 6.5% | ||||||||
Air Products & Chemicals | 456 | 136,645 | ||||||
AptarGroup | 1,929 | 284,161 |
55
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Factor ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Materials — continued | ||||||||
Chemours | 29,035 | $ | 1,043,227 | |||||
Corteva | 17,988 | 818,454 | ||||||
Dow | 13,292 | 909,439 | ||||||
Eastman Chemical | 7,436 | 932,474 | ||||||
International Paper | 15,238 | 961,518 | ||||||
LyondellBasell Industries, Cl A | 7,971 | 897,694 | ||||||
Mosaic | 25,806 | 932,629 | ||||||
Newmont | 8,537 | 627,299 | ||||||
Nucor | 10,740 | 1,101,279 | ||||||
Royal Gold | 14,388 | 1,780,803 | ||||||
Sonoco Products | 2,088 | 140,982 | ||||||
Steel Dynamics | 16,832 | 1,050,822 | ||||||
11,617,426 | ||||||||
Real Estate — 1.6% | ||||||||
Alexandria Real Estate Equities ‡ | 733 | 130,664 | ||||||
CoreSite Realty ‡ | 937 | 113,611 | ||||||
CubeSmart ‡ | 4,695 | 205,594 | ||||||
Digital Realty Trust ‡ | 800 | 121,248 | ||||||
Equity LifeStyle Properties ‡ | 1,857 | 131,587 | ||||||
Equity Residential ‡ | 1,851 | 143,360 | ||||||
Essex Property Trust ‡ | 468 | 138,196 | ||||||
Extra Space Storage ‡ | 1,681 | 251,831 | ||||||
Public Storage ‡ | 820 | 231,634 | ||||||
SL Green Realty ‡ | 12,291 | 973,693 | ||||||
Sun Communities ‡ | 2,234 | 374,016 | ||||||
2,815,434 | ||||||||
Utilities — 2.5% | ||||||||
Alliant Energy | 3,386 | 193,510 | ||||||
Ameren | 1,763 | 148,444 | ||||||
American Electric Power | 1,940 | 166,840 | ||||||
CMS Energy | 2,570 | 161,242 | ||||||
Consolidated Edison | 1,553 | 119,954 |
56
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Factor ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Utilities — continued | ||||||||
Duke Energy | 7,505 | $ | 752,151 | |||||
Eversource Energy | 1,931 | 156,778 | ||||||
Hawaiian Electric Industries | 49,078 | 2,112,808 | ||||||
National Fuel Gas | 3,620 | 187,842 | ||||||
NextEra Energy | 4,388 | 321,289 | ||||||
Southern | 2,524 | 161,334 | ||||||
4,482,192 | ||||||||
TOTAL UNITED STATES | 176,337,325 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $153,433,827) | 177,320,869 | |||||||
TOTAL INVESTMENTS — 99.7% | ||||||||
(Cost $153,433,827) | $ | 177,320,869 |
Percentages are based on Net Assets of $177,799,646.
* | Non-income producing security. |
‡ | Real Estate Investment Trust |
Cl — Class
As of May 31, 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 period ended May 31, 2021, there have been no transfers in or out of Level 3.
57
Sector Weightings †:
† Sector weightings percentages are based on the total market value of investments.
Shares | Value | |||||||
COMMON STOCK — 99.8% | ||||||||
ARGENTINA— 0.2% | ||||||||
Consumer Discretionary — 0.2% | ||||||||
MercadoLibre * | 87 | $ | 118,204 | |||||
CHINA— 0.1% | ||||||||
Consumer Discretionary — 0.1% | ||||||||
Yum China Holdings | 792 | 53,571 | ||||||
IRELAND— 0.0% | ||||||||
Information Technology — 0.0% | ||||||||
Seagate Technology Holdings | 434 | 41,556 | ||||||
KOREA— 0.1% | ||||||||
Consumer Discretionary — 0.1% | ||||||||
Coupang, Cl A * | 1,346 | 54,903 | ||||||
PERU— 0.0% | ||||||||
Materials — 0.0% | ||||||||
Southern Copper | 170 | 11,856 |
58
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Risk Management ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
UNITED KINGDOM— 0.4% | ||||||||
Materials — 0.4% | ||||||||
Linde | 1,024 | $ | 307,814 | |||||
UNITED STATES— 99.0% | ||||||||
Communication Services — 11.4% | ||||||||
Activision Blizzard | 1,537 | 149,473 | ||||||
Alphabet, Cl A * | 587 | 1,383,471 | ||||||
Alphabet, Cl C * | 560 | 1,350,474 | ||||||
Altice USA, Cl A * | 654 | 23,583 | ||||||
AT&T | 14,187 | 417,523 | ||||||
Charter Communications, Cl A * | 265 | 184,050 | ||||||
Comcast, Cl A | 9,023 | 517,379 | ||||||
Discovery, Cl C * | 622 | 18,691 | ||||||
Discovery, Cl A * | 311 | 9,986 | ||||||
DISH Network, Cl A * | 481 | 20,933 | ||||||
Electronic Arts | 575 | 82,185 | ||||||
Facebook, Cl A * | 4,752 | 1,562,124 | ||||||
Fox, Cl A | 688 | 25,697 | ||||||
Fox, Cl B | 311 | 11,283 | ||||||
IAC * | 170 | 27,110 | ||||||
Liberty Broadband, Cl C * | 299 | 49,721 | ||||||
Liberty Broadband, Cl A * | 47 | 7,617 | ||||||
Live Nation Entertainment * | 264 | 23,789 | ||||||
Match Group * | 481 | 68,966 | ||||||
Netflix * | 858 | 431,411 | ||||||
Omnicom Group | 434 | 35,692 | ||||||
Pinterest, Cl A * | 945 | 61,709 | ||||||
Roku, Cl A * | 217 | 75,236 | ||||||
Sirius XM Holdings | 2,151 | 13,444 | ||||||
Snap, Cl A * | 2,127 | 132,129 | ||||||
Spotify Technology * | 264 | 63,774 | ||||||
Take-Two Interactive Software * | 217 | 40,267 | ||||||
T-Mobile US * | 1,143 | 161,677 |
59
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Risk Management ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Communication Services — continued | ||||||||
Twitter * | 1,537 | $ | 89,146 | |||||
Verizon Communications | 7,893 | 445,876 | ||||||
ViacomCBS, Cl B | 1,056 | 44,796 | ||||||
ViacomCBS | 7 | 326 | ||||||
Vimeo * | 276 | 11,592 | ||||||
Walt Disney * | 3,602 | 643,498 | ||||||
Warner Music Group, Cl A | 170 | 6,101 | ||||||
Zillow Group, Cl A * | 94 | 11,119 | ||||||
Zillow Group, Cl C * | 279 | 32,732 | ||||||
ZoomInfo Technologies, Cl A * | 170 | 7,451 | ||||||
Total Communication Services | 8,242,031 | |||||||
Consumer Discretionary — 11.6% | ||||||||
Airbnb, Cl A * | 139 | 19,516 | ||||||
Amazon.com * | 850 | 2,739,609 | ||||||
Aptiv * | 528 | 79,422 | ||||||
AutoZone * | 47 | 66,110 | ||||||
Best Buy | 481 | 55,911 | ||||||
Booking Holdings * | 79 | 186,562 | ||||||
Burlington Stores * | 113 | 36,541 | ||||||
Caesars Entertainment * | 370 | 39,757 | ||||||
CarMax * | 311 | 35,824 | ||||||
Carnival * | 1,296 | 38,310 | ||||||
Carvana, Cl A * | 170 | 45,065 | ||||||
Chewy, Cl A * | 170 | 12,515 | ||||||
Chipotle Mexican Grill, Cl A * | 47 | 64,483 | ||||||
Darden Restaurants | 264 | 37,813 | ||||||
Dollar General | 481 | 97,624 | ||||||
Dollar Tree * | 481 | 46,898 | ||||||
Domino’s Pizza | 69 | 29,454 | ||||||
DoorDash, Cl A * | 151 | 22,692 | ||||||
DR Horton | 698 | 66,513 | ||||||
DraftKings, Cl A * | 543 | 27,123 |
60
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Risk Management ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Consumer Discretionary — continued | ||||||||
eBay | 1,320 | $ | 80,362 | |||||
Etsy * | 232 | 38,217 | ||||||
Expedia Group * | 264 | 46,715 | ||||||
Ford Motor * | 7,750 | 112,608 | ||||||
Garmin | 279 | 39,685 | ||||||
General Motors * | 2,480 | 147,089 | ||||||
Genuine Parts | 264 | 34,616 | ||||||
Hasbro | 264 | 25,336 | ||||||
Hilton Worldwide Holdings * | 528 | 66,143 | ||||||
Home Depot | 2,137 | 681,511 | ||||||
Las Vegas Sands * | 745 | 43,024 | ||||||
Lennar, Cl A | 528 | 52,277 | ||||||
Lennar, Cl B | 47 | 3,681 | ||||||
Lowe’s | 1,461 | 284,647 | ||||||
Lululemon Athletica * | 264 | 85,306 | ||||||
Marriott International, Cl A * | 496 | 71,216 | ||||||
McDonald’s | 1,490 | 348,495 | ||||||
MGM Resorts International | 766 | 32,838 | ||||||
NIKE, Cl B | 2,470 | 337,056 | ||||||
NVR * | 6 | 29,323 | ||||||
O’Reilly Automotive * | 138 | 73,847 | ||||||
Peloton Interactive, Cl A * | 449 | 49,529 | ||||||
Ross Stores | 698 | 88,220 | ||||||
Royal Caribbean Cruises * | 368 | 34,323 | ||||||
Starbucks | 2,329 | 265,226 | ||||||
Target | 1,009 | 228,962 | ||||||
Tesla * | 1,522 | 951,584 | ||||||
TJX | 2,159 | 145,819 | ||||||
Tractor Supply | 217 | 39,429 | ||||||
Ulta Beauty * | 94 | 32,464 | ||||||
VF | 622 | 49,586 | ||||||
Wayfair, Cl A * | 138 | 42,303 | ||||||
Yum! Brands | 575 | 68,983 |
61
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Risk Management ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Total Consumer Discretionary | $ | 8,378,162 | ||||||
Consumer Staples — 5.9% | ||||||||
Altria Group | 3,696 | 181,917 | ||||||
Archer-Daniels-Midland | 1,103 | 73,383 | ||||||
Brown-Forman, Cl B | 575 | 46,207 | ||||||
Brown-Forman, Cl A | 47 | 3,525 | ||||||
Campbell Soup | 434 | 21,123 | ||||||
Church & Dwight | 481 | 41,236 | ||||||
Clorox | 264 | 46,657 | ||||||
Coca-Cola | 7,681 | 424,682 | ||||||
Colgate-Palmolive | 1,678 | 140,583 | ||||||
Conagra Brands | 962 | 36,652 | ||||||
Constellation Brands, Cl A | 311 | 74,553 | ||||||
Costco Wholesale | 872 | 329,851 | ||||||
Estee Lauder, Cl A | 434 | 133,030 | ||||||
General Mills | 1,226 | 77,065 | ||||||
Hershey | 311 | 53,819 | ||||||
Hormel Foods | 575 | 27,911 | ||||||
J M Smucker | 217 | 28,924 | ||||||
Kellogg | 528 | 34,579 | ||||||
Keurig Dr Pepper | 1,342 | 49,600 | ||||||
Kimberly-Clark | 698 | 91,180 | ||||||
Kraft Heinz | 1,273 | 55,490 | ||||||
Kroger | 1,465 | 54,176 | ||||||
McCormick | 481 | 42,838 | ||||||
Mondelez International, Cl A | 2,800 | 177,883 | ||||||
Monster Beverage * | 745 | 70,231 | ||||||
PepsiCo | 2,734 | 404,468 | ||||||
Philip Morris International | 3,106 | 299,512 | ||||||
Procter & Gamble | 4,912 | 662,383 | ||||||
Sysco | 962 | 77,922 | ||||||
Tyson Foods, Cl A | 575 | 45,713 | ||||||
Walgreens Boots Alliance | 1,414 | 74,461 |
62
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Risk Management ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Consumer Staples — continued | ||||||||
Walmart | 2,850 | $ | 404,786 | |||||
Total Consumer Staples | 4,286,340 | |||||||
Energy — 2.6% | ||||||||
Baker Hughes, Cl A | 1,273 | 31,061 | ||||||
Cheniere Energy * | 481 | 40,837 | ||||||
Chevron | 3,710 | 385,061 | ||||||
ConocoPhillips | 2,646 | 147,488 | ||||||
EOG Resources | 1,150 | 92,391 | ||||||
Exxon Mobil | 8,401 | 490,366 | ||||||
Halliburton | 1,631 | 36,616 | ||||||
Hess | 575 | 48,197 | ||||||
Kinder Morgan | 3,866 | 70,902 | ||||||
Marathon Petroleum | 1,273 | 78,671 | ||||||
Occidental Petroleum | 1,798 | 46,676 | ||||||
ONEOK | 886 | 46,728 | ||||||
Phillips 66 | 839 | 70,661 | ||||||
Pioneer Natural Resources | 418 | 63,615 | ||||||
Schlumberger | 2,734 | 85,656 | ||||||
Valero Energy | 792 | 63,677 | ||||||
Williams | 2,423 | 63,822 | ||||||
Total Energy | 1,862,425 | |||||||
Financials — 11.1% | ||||||||
Aflac | 1,305 | 73,967 | ||||||
Allstate | 575 | 78,551 | ||||||
American Express | 1,226 | 196,319 | ||||||
American International Group | 1,678 | 88,666 | ||||||
Ameriprise Financial | 249 | 64,700 | ||||||
Aon, Cl A | 466 | 118,070 | ||||||
Apollo Global Management, Cl A | 434 | 24,886 | ||||||
Arch Capital Group * | 792 | 31,593 | ||||||
Arthur J Gallagher | 358 | 52,486 | ||||||
Bank of America | 15,186 | 643,735 |
63
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Risk Management ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Financials — continued | ||||||||
Bank of New York Mellon | 1,631 | $ | 84,942 | |||||
Berkshire Hathaway, Cl B * | 2,556 | 739,809 | ||||||
BlackRock, Cl A | 273 | 239,432 | ||||||
Blackstone Group, Cl A | 1,320 | 122,324 | ||||||
Brown & Brown | 481 | 25,262 | ||||||
Capital One Financial | 886 | 142,451 | ||||||
Charles Schwab | 2,960 | 218,596 | ||||||
Chubb | 792 | 134,632 | ||||||
Cincinnati Financial | 311 | 37,852 | ||||||
Citigroup | 4,130 | 325,072 | ||||||
Citizens Financial Group | 839 | 41,866 | ||||||
CME Group, Cl A | 698 | 152,694 | ||||||
Discover Financial Services | 575 | 67,425 | ||||||
Fifth Third Bancorp | 1,414 | 59,586 | ||||||
First Republic Bank | 311 | 59,538 | ||||||
Franklin Resources | 575 | 19,671 | ||||||
Goldman Sachs Group | 698 | 259,670 | ||||||
Hartford Financial Services Group | 698 | 45,614 | ||||||
Huntington Bancshares | 2,018 | 32,005 | ||||||
Interactive Brokers Group, Cl A | 170 | 11,434 | ||||||
Intercontinental Exchange | 1,071 | 120,894 | ||||||
JPMorgan Chase | 5,993 | 984,289 | ||||||
KeyCorp | 1,942 | 44,744 | ||||||
KKR | 1,056 | 58,809 | ||||||
Loews | 481 | 28,081 | ||||||
M&T Bank | 264 | 42,422 | ||||||
Markel * | 30 | 36,765 | ||||||
MarketAxess Holdings | 58 | 27,059 | ||||||
Marsh & McLennan | 1,009 | 139,595 | ||||||
MetLife | 1,392 | 90,981 | ||||||
Moody’s | 311 | 104,294 | ||||||
Morgan Stanley | 2,857 | 259,845 | ||||||
MSCI, Cl A | 170 | 79,582 |
64
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Risk Management ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Financials — continued | ||||||||
Nasdaq | 217 | $ | 36,339 | |||||
Northern Trust | 358 | 43,386 | ||||||
PNC Financial Services Group | 839 | 163,337 | ||||||
Principal Financial Group | 528 | 34,526 | ||||||
Progressive | 1,150 | 113,942 | ||||||
Prudential Financial | 792 | 84,720 | ||||||
Raymond James Financial | 264 | 35,004 | ||||||
Regions Financial | 1,895 | 44,362 | ||||||
Rocket, Cl A | 217 | 3,843 | ||||||
S&P Global | 481 | 182,525 | ||||||
State Street | 688 | 59,842 | ||||||
SVB Financial Group * | 94 | 54,792 | ||||||
Synchrony Financial | 1,103 | 52,293 | ||||||
T Rowe Price Group | 434 | 83,046 | ||||||
Tradeweb Markets, Cl A | 170 | 14,243 | ||||||
Travelers | 506 | 80,808 | ||||||
Truist Financial | 2,665 | 164,644 | ||||||
US Bancorp | 2,687 | 163,316 | ||||||
Wells Fargo | 7,930 | 370,490 | ||||||
Willis Towers Watson | 264 | 68,999 | ||||||
Total Financials | 8,064,665 | |||||||
Health Care — 13.3% | ||||||||
10X Genomics, Cl A * | 138 | 24,840 | ||||||
Abbott Laboratories | 3,479 | 405,825 | ||||||
AbbVie | 3,504 | 396,653 | ||||||
Agilent Technologies | 607 | 83,845 | ||||||
Alexion Pharmaceuticals * | 434 | 76,623 | ||||||
Align Technology * | 147 | 86,752 | ||||||
Alnylam Pharmaceuticals * | 217 | 30,812 | ||||||
AmerisourceBergen, Cl A | 311 | 35,684 | ||||||
Amgen | 1,150 | 273,631 | ||||||
Anthem | 481 | 191,544 |
65
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Risk Management ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Health Care — continued | ||||||||
Baxter International | 1,009 | $ | 82,859 | |||||
Becton Dickinson | 575 | 139,087 | ||||||
Biogen * | 311 | 83,186 | ||||||
BioMarin Pharmaceutical * | 358 | 27,673 | ||||||
Bio-Rad Laboratories, Cl A * | 47 | 28,311 | ||||||
Boston Scientific * | 2,857 | 121,565 | ||||||
Bristol-Myers Squibb | 4,473 | 293,966 | ||||||
Cardinal Health | 575 | 32,240 | ||||||
Catalent * | 311 | 32,602 | ||||||
Centene * | 1,103 | 81,181 | ||||||
Cerner | 615 | 48,124 | ||||||
Cigna | 684 | 177,053 | ||||||
Cooper | 113 | 44,460 | ||||||
CVS Health | 2,593 | 224,139 | ||||||
Danaher | 1,273 | 326,066 | ||||||
DENTSPLY SIRONA | 434 | 29,043 | ||||||
DexCom * | 217 | 80,158 | ||||||
Edwards Lifesciences * | 1,226 | 117,573 | ||||||
Elanco Animal Health * | 962 | 34,613 | ||||||
Eli Lilly | 1,678 | 335,164 | ||||||
Exact Sciences * | 311 | 34,375 | ||||||
Gilead Sciences | 2,470 | 163,292 | ||||||
HCA Healthcare | 528 | 113,409 | ||||||
Hologic * | 528 | 33,296 | ||||||
Horizon Therapeutics * | 434 | 39,780 | ||||||
Humana | 264 | 115,553 | ||||||
IDEXX Laboratories * | 170 | 94,879 | ||||||
Illumina * | 289 | 117,230 | ||||||
Incyte * | 358 | 29,993 | ||||||
Insulet * | 113 | 30,473 | ||||||
Intuitive Surgical * | 228 | 192,017 | ||||||
IQVIA Holdings * | 358 | 85,977 | ||||||
Johnson & Johnson | 5,233 | 885,685 |
66
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Risk Management ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Health Care — continued | ||||||||
Laboratory Corp of America Holdings * | 217 | $ | 59,562 | |||||
Masimo * | 113 | 24,363 | ||||||
McKesson | 311 | 59,833 | ||||||
Medtronic | 2,687 | 340,147 | ||||||
Merck | 5,001 | 379,526 | ||||||
Mettler-Toledo International * | 47 | 61,145 | ||||||
Moderna * | 632 | 116,926 | ||||||
PerkinElmer | 217 | 31,480 | ||||||
Pfizer | 11,066 | 428,586 | ||||||
Quest Diagnostics | 264 | 34,761 | ||||||
Regeneron Pharmaceuticals * | 217 | 109,027 | ||||||
ResMed | 264 | 54,344 | ||||||
Royalty Pharma, Cl A | 553 | 22,186 | ||||||
Seagen * | 264 | 41,012 | ||||||
STERIS | 170 | 32,446 | ||||||
Stryker | 639 | 163,118 | ||||||
Teladoc Health * | 264 | 39,753 | ||||||
Teleflex | 94 | 37,806 | ||||||
Thermo Fisher Scientific | 792 | 371,845 | ||||||
UnitedHealth Group | 1,861 | 766,584 | ||||||
Veeva Systems, Cl A * | 264 | 76,914 | ||||||
Vertex Pharmaceuticals * | 528 | 110,157 | ||||||
Viatris, Cl W * | 2,367 | 36,073 | ||||||
Waters * | 113 | 36,414 | ||||||
West Pharmaceutical Services | 170 | 59,077 | ||||||
Zimmer Biomet Holdings | 434 | 73,055 | ||||||
Zoetis, Cl A | 962 | 169,966 | ||||||
Total Health Care | 9,617,337 | |||||||
Industrials — 8.7% | ||||||||
3M | 1,150 | 233,496 | ||||||
AMETEK | 481 | 64,983 | ||||||
Boeing * | 1,145 | 282,838 |
67
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Risk Management ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Industrials — continued | ||||||||
Carrier Global | 1,754 | $ | 80,561 | |||||
Caterpillar | 1,056 | 254,580 | ||||||
Cintas | 170 | 60,102 | ||||||
Copart * | 434 | 55,990 | ||||||
CoStar Group * | 72 | 61,488 | ||||||
CSX | 1,537 | 153,884 | ||||||
Cummins | 264 | 67,922 | ||||||
Deere | 552 | 199,327 | ||||||
Delta Air Lines * | 1,273 | 60,697 | ||||||
Dover | 264 | 39,732 | ||||||
Eaton | 792 | 115,037 | ||||||
Emerson Electric | 1,150 | 110,044 | ||||||
Equifax | 264 | 62,051 | ||||||
Expeditors International of Washington | 311 | 39,090 | ||||||
Fastenal | 1,150 | 60,996 | ||||||
FedEx | 481 | 151,424 | ||||||
Fortive | 622 | 45,107 | ||||||
Generac Holdings * | 112 | 36,817 | ||||||
General Dynamics | 481 | 91,347 | ||||||
General Electric | 17,330 | 243,660 | ||||||
HEICO, Cl A | 170 | 22,518 | ||||||
HEICO | 94 | 13,203 | ||||||
Honeywell International | 1,367 | 315,654 | ||||||
IDEX | 170 | 37,852 | ||||||
IHS Markit | 745 | 78,456 | ||||||
Illinois Tool Works | 575 | 133,262 | ||||||
Ingersoll Rand * | 745 | 36,982 | ||||||
Jacobs Engineering Group | 264 | 37,509 | ||||||
JB Hunt Transport Services | 170 | 29,162 | ||||||
Johnson Controls International | 1,446 | 96,217 | ||||||
Kansas City Southern | 217 | 64,597 | ||||||
L3Harris Technologies | 434 | 94,638 | ||||||
Leidos Holdings | 264 | 27,126 |
68
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Risk Management ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Industrials — continued | ||||||||
Lockheed Martin | 481 | $ | 183,838 | |||||
Lyft, Cl A * | 484 | 27,632 | ||||||
Masco | 528 | 31,844 | ||||||
Norfolk Southern | 528 | 148,315 | ||||||
Northrop Grumman | 311 | 113,786 | ||||||
Old Dominion Freight Line | 217 | 57,603 | ||||||
Otis Worldwide | 839 | 65,719 | ||||||
PACCAR | 698 | 63,909 | ||||||
Parker-Hannifin | 264 | 81,352 | ||||||
Raytheon Technologies | 3,023 | 268,170 | ||||||
Republic Services, Cl A | 434 | 47,384 | ||||||
Rockwell Automation | 217 | 57,227 | ||||||
Rollins | 434 | 14,795 | ||||||
Roper Technologies | 217 | 97,652 | ||||||
Southwest Airlines * | 1,150 | 70,679 | ||||||
Stanley Black & Decker | 311 | 67,425 | ||||||
Teledyne Technologies * | 47 | 19,715 | ||||||
Trane Technologies | 481 | 89,658 | ||||||
TransDigm Group * | 94 | 60,991 | ||||||
TransUnion | 358 | 38,306 | ||||||
Uber Technologies * | 2,396 | 121,789 | ||||||
Union Pacific | 1,352 | 303,834 | ||||||
United Airlines Holdings * | 575 | 33,551 | ||||||
United Parcel Service, Cl B | 1,414 | 303,444 | ||||||
United Rentals * | 170 | 56,773 | ||||||
Verisk Analytics, Cl A | 311 | 53,750 | ||||||
Waste Management | 839 | 118,031 | ||||||
Westinghouse Air Brake Technologies | 358 | 29,628 | ||||||
WW Grainger | 94 | 43,443 | ||||||
Xylem | 358 | 42,287 | ||||||
Total Industrials | 6,270,879 |
69
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Risk Management ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Information Technology — 27.5% | ||||||||
Accenture, Cl A | 1,256 | $ | 354,393 | |||||
Adobe * | 962 | 485,406 | ||||||
Advanced Micro Devices * | 2,344 | 187,708 | ||||||
Akamai Technologies * | 311 | 35,519 | ||||||
Amphenol, Cl A | 1,150 | 77,349 | ||||||
Analog Devices | 745 | 122,627 | ||||||
ANSYS * | 170 | 57,450 | ||||||
Apple | 33,285 | 4,147,643 | ||||||
Applied Materials | 1,801 | 248,772 | ||||||
Arista Networks * | 113 | 38,350 | ||||||
Atlassian, Cl A * | 264 | 61,586 | ||||||
Autodesk * | 434 | 124,063 | ||||||
Automatic Data Processing | 836 | 163,873 | ||||||
Broadcom | 792 | 374,085 | ||||||
Broadridge Financial Solutions | 217 | 34,607 | ||||||
Cadence Design Systems * | 528 | 67,051 | ||||||
CDW | 264 | 43,671 | ||||||
Cisco Systems | 7,775 | 411,297 | ||||||
Citrix Systems | 264 | 30,349 | ||||||
Cloudflare, Cl A * | 373 | 30,608 | ||||||
Cognizant Technology Solutions, Cl A | 1,056 | 75,567 | ||||||
Corning | 1,527 | 66,623 | ||||||
Coupa Software * | 170 | 40,494 | ||||||
Crowdstrike Holdings, Cl A * | 358 | 79,530 | ||||||
Datadog, Cl A * | 336 | 30,593 | ||||||
Dell Technologies, Cl C * | 481 | 47,446 | ||||||
DocuSign, Cl A * | 358 | 72,180 | ||||||
Enphase Energy * | 222 | 31,757 | ||||||
EPAM Systems * | 113 | 53,969 | ||||||
Fidelity National Information Services | 1,226 | 182,649 | ||||||
Fiserv * | 1,118 | 128,794 | ||||||
FleetCor Technologies * | 170 | 46,655 | ||||||
Fortinet * | 264 | 57,695 |
70
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Risk Management ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Information Technology — continued | ||||||||
Gartner * | 170 | $ | 39,413 | |||||
Global Payments | 575 | 111,383 | ||||||
GoDaddy, Cl A * | 311 | 25,179 | ||||||
Hewlett Packard Enterprise | 2,561 | 40,874 | ||||||
HP | 2,664 | 77,869 | ||||||
HubSpot * | 80 | 40,350 | ||||||
Intel | 8,130 | 464,386 | ||||||
International Business Machines | 1,786 | 256,720 | ||||||
Intuit | 528 | 231,840 | ||||||
Keysight Technologies * | 358 | 50,972 | ||||||
KLA | 311 | 98,553 | ||||||
Lam Research | 266 | 172,860 | ||||||
Marvell Technology | 1,528 | 73,802 | ||||||
Mastercard, Cl A | 1,754 | 632,457 | ||||||
Maxim Integrated Products * | 528 | 53,861 | ||||||
Microchip Technology | 496 | 77,847 | ||||||
Micron Technology * | 2,206 | 185,613 | ||||||
Microsoft | 14,754 | 3,683,778 | ||||||
MongoDB, Cl A * | 113 | 32,989 | ||||||
Motorola Solutions | 311 | 63,851 | ||||||
NetApp | 434 | 33,579 | ||||||
NVIDIA | 1,173 | 762,192 | ||||||
Okta, Cl A * | 232 | 51,606 | ||||||
Oracle | 3,426 | 269,763 | ||||||
Palantir Technologies, Cl A * | 2,966 | 68,070 | ||||||
Palo Alto Networks * | 186 | 67,565 | ||||||
Paychex | 622 | 62,909 | ||||||
Paycom Software * | 113 | 37,245 | ||||||
PayPal Holdings * | 2,329 | 605,587 | ||||||
Qorvo * | 217 | 39,650 | ||||||
QUALCOMM | 2,275 | 306,079 | ||||||
RingCentral, Cl A * | 170 | 44,620 | ||||||
salesforce.com * | 1,754 | 417,627 |
71
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Risk Management ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Information Technology — continued | ||||||||
ServiceNow * | 379 | $ | 179,601 | |||||
Skyworks Solutions | 311 | 52,870 | ||||||
Slack Technologies, Cl A * | 930 | 40,957 | ||||||
Snowflake, Cl A * | 454 | 108,066 | ||||||
SolarEdge Technologies * | 94 | 24,253 | ||||||
Splunk * | 311 | 37,693 | ||||||
Square, Cl A * | 745 | 165,777 | ||||||
SS&C Technologies Holdings | 459 | 33,906 | ||||||
Synopsys * | 311 | 79,100 | ||||||
TE Connectivity | 622 | 84,392 | ||||||
Teradyne | 311 | 41,161 | ||||||
Texas Instruments | 1,826 | 346,611 | ||||||
Trade Desk, Cl A * | 79 | 46,463 | ||||||
Trimble * | 482 | 37,495 | ||||||
Twilio, Cl A * | 305 | 102,480 | ||||||
Tyler Technologies * | 72 | 29,028 | ||||||
Ubiquiti | 5 | 1,508 | ||||||
Unity Software * | 258 | 24,371 | ||||||
VeriSign * | 217 | 47,723 | ||||||
Visa, Cl A | 3,338 | 758,727 | ||||||
VMware, Cl A * | 170 | 26,841 | ||||||
Western Digital * | 575 | 43,257 | ||||||
Workday, Cl A * | 358 | 81,882 | ||||||
Xilinx * | 481 | 61,087 | ||||||
Zebra Technologies, Cl A * | 94 | 46,723 | ||||||
Zoom Video Communications, Cl A * | 409 | 135,596 | ||||||
Zscaler * | 170 | 33,014 | ||||||
Total Information Technology | 19,862,030 | |||||||
Materials — 2.1% | ||||||||
Air Products & Chemicals | 434 | 130,052 | ||||||
Albemarle | 212 | 35,421 | ||||||
Amcor | 3,121 | 36,828 |
72
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Risk Management ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Materials — continued | ||||||||
Ball | 622 | $ | 51,104 | |||||
Celanese, Cl A | 217 | 35,903 | ||||||
Corteva | 1,490 | 67,795 | ||||||
Dow | 1,490 | 101,946 | ||||||
DuPont de Nemours | 1,034 | 87,466 | ||||||
Eastman Chemical | 264 | 33,106 | ||||||
Ecolab | 528 | 113,562 | ||||||
FMC | 264 | 30,806 | ||||||
Freeport-McMoRan Copper & Gold | 2,857 | 122,051 | ||||||
International Flavors & Fragrances | 481 | 68,143 | ||||||
International Paper | 792 | 49,975 | ||||||
LyondellBasell Industries, Cl A | 528 | 59,463 | ||||||
Martin Marietta Materials | 113 | 41,092 | ||||||
Newmont | 1,584 | 116,392 | ||||||
Nucor | 575 | 58,961 | ||||||
Packaging Corp of America | 217 | 32,257 | ||||||
PPG Industries | 481 | 86,445 | ||||||
Sherwin-Williams | 481 | 136,378 | ||||||
Vulcan Materials | 264 | 48,397 | ||||||
Total Materials | 1,543,543 | |||||||
Real Estate — 2.4% | ||||||||
Alexandria Real Estate Equities ‡ | 264 | 47,061 | ||||||
American Tower, Cl A ‡ | 886 | 226,337 | ||||||
AvalonBay Communities ‡ | 264 | 54,632 | ||||||
Boston Properties ‡ | 264 | 31,036 | ||||||
Brookfield Property, Cl A ‡ | 50 | 937 | ||||||
CBRE Group, Cl A * | 622 | 54,599 | ||||||
Crown Castle International ‡ | 839 | 158,991 | ||||||
Digital Realty Trust ‡ | 543 | 82,297 | ||||||
Duke Realty ‡ | 745 | 34,613 | ||||||
Equinix ‡ | 180 | 132,610 | ||||||
Equity Residential ‡ | 745 | 57,700 |
73
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Risk Management ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Real Estate — continued | ||||||||
Essex Property Trust ‡ | 113 | $ | 33,368 | |||||
Extra Space Storage ‡ | 264 | 39,550 | ||||||
Healthpeak Properties ‡ | 1,056 | 35,249 | ||||||
Invitation Homes ‡ | 1,103 | 40,006 | ||||||
Mid-America Apartment Communities ‡ | 217 | 34,872 | ||||||
ProLogis ‡ | 1,490 | 175,582 | ||||||
Public Storage ‡ | 311 | 87,851 | ||||||
Realty Income ‡ | 698 | 47,743 | ||||||
SBA Communications, Cl A ‡ | 217 | 64,692 | ||||||
Simon Property Group ‡ | 590 | 75,809 | ||||||
Sun Communities ‡ | 217 | 36,330 | ||||||
Ventas ‡ | 745 | 41,310 | ||||||
Welltower ‡ | 839 | 62,732 | ||||||
Weyerhaeuser ‡ | 1,490 | 56,560 | ||||||
Total Real Estate | 1,712,467 | |||||||
Utilities — 2.4% | ||||||||
AES | 1,320 | 33,541 | ||||||
Alliant Energy | 481 | 27,489 | ||||||
Ameren | 481 | 40,500 | ||||||
American Electric Power | 1,009 | 86,774 | ||||||
American Water Works | 358 | 55,497 | ||||||
Avangrid | 113 | 5,953 | ||||||
CMS Energy | 575 | 36,076 | ||||||
Consolidated Edison | 698 | 53,914 | ||||||
Dominion Energy | 1,663 | 126,620 | ||||||
DTE Energy | 358 | 49,400 | ||||||
Duke Energy | 1,490 | 149,328 | ||||||
Edison International | 745 | 41,623 | ||||||
Entergy | 434 | 45,683 | ||||||
Evergy | 481 | 29,817 | ||||||
Eversource Energy | 698 | 56,671 | ||||||
Exelon | 1,942 | 87,623 |
74
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Adaptive U.S. Risk Management ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Utilities — continued | ||||||||
FirstEnergy | 1,056 | $ | 40,033 | |||||
NextEra Energy | 3,913 | 286,510 | ||||||
PG&E * | 2,934 | 29,751 | ||||||
PPL | 1,537 | 44,742 | ||||||
Public Service Enterprise Group | 1,009 | 62,679 | ||||||
Sempra Energy | 575 | 77,907 | ||||||
Southern | 2,112 | 134,999 | ||||||
WEC Energy Group | 622 | 58,412 | ||||||
Xcel Energy | 1,056 | 74,849 | ||||||
Total Utilities | 1,736,391 | |||||||
TOTAL UNITED STATES | 71,576,270 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $67,091,065) | 72,164,174 | |||||||
TOTAL INVESTMENTS — 99.8% | ||||||||
(Cost $67,091,065) | $ | 72,164,174 |
Percentages are based on Net Assets of $72,332,626.
* | Non-income producing security. |
‡ | Real Estate Investment Trust |
Cl — Class
S&P — Standard & Poor’s
As of May 31, 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 period ended May 31, 2021 there have been no transfers in or out of Level 3.
75
Sector Weightings †:
† Sector weightings percentages are based on the total market value of investments.
Shares | Value | |||||||
COMMON STOCK — 99.9% | ||||||||
UNITED STATES— 99.9% | ||||||||
Communication Services — 10.3% | ||||||||
Facebook, Cl A * | 358 | $ | 117,686 | |||||
Netflix * | 230 | 115,646 | ||||||
Nexstar Media Group, Cl A | 801 | 121,680 | ||||||
Pinterest, Cl A * | 1,779 | 116,169 | ||||||
ROBLOX, Cl A * | 1,584 | 148,532 | ||||||
Roku, Cl A * | 344 | 119,268 | ||||||
Snap, Cl A * | 1,909 | 118,587 | ||||||
TripAdvisor * | 2,505 | 108,842 | ||||||
Twitter * | 2,138 | 124,004 | ||||||
Zillow Group, Cl C * | 907 | 106,409 | ||||||
Total Communication Services | 1,196,823 | |||||||
Consumer Discretionary — 10.4% | ||||||||
Airbnb, Cl A * | 683 | 95,893 | ||||||
Amazon.com * | 34 | 109,584 | ||||||
Carvana, Cl A * | 414 | 109,747 | ||||||
DoorDash, Cl A * | 825 | 123,981 | ||||||
DraftKings, Cl A * | 2,083 | 104,046 | ||||||
Grubhub * | 1,735 | 104,291 |
76
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Founder-Run Companies ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Consumer Discretionary — continued | ||||||||
Peloton Interactive, Cl A * | 1,200 | $ | 132,372 | |||||
QuantumScape, Cl A * | 3,230 | 83,625 | ||||||
Skechers USA, Cl A * | 2,402 | 114,095 | ||||||
Tesla * | 167 | 104,412 | ||||||
Wayfair, Cl A * | 399 | 122,310 | ||||||
Total Consumer Discretionary | 1,204,356 | |||||||
Energy — 1.0% | ||||||||
Pioneer Natural Resources | 757 | 115,208 | ||||||
Financials — 15.4% | ||||||||
Apollo Global Management, Cl A | 2,133 | 122,306 | ||||||
Ares Management, Cl A | 2,248 | 124,045 | ||||||
Athene Holding, Cl A * | 1,952 | 122,254 | ||||||
BlackRock, Cl A | 144 | 126,294 | ||||||
Blackstone Group, Cl A | 1,334 | 123,622 | ||||||
Capital One Financial | 782 | 125,730 | ||||||
Essent Group | 2,246 | 107,449 | ||||||
First Republic Bank | 635 | 121,564 | ||||||
Intercontinental Exchange | 989 | 111,638 | ||||||
KKR | 2,088 | 116,281 | ||||||
MarketAxess Holdings | 238 | 111,036 | ||||||
SEI Investments | 1,922 | 121,932 | ||||||
Signature Bank NY | 469 | 117,133 | ||||||
Starwood Property Trust ‡ | 4,573 | 116,108 | ||||||
Tradeweb Markets, Cl A | 1,452 | 121,648 | ||||||
Total Financials | 1,789,040 | |||||||
Health Care — 14.6% | ||||||||
Guardant Health * | 742 | 92,097 | ||||||
Ionis Pharmaceuticals * | 2,758 | 102,735 | ||||||
Jazz Pharmaceuticals * | 709 | 126,294 | ||||||
LHC Group * | 567 | 111,614 | ||||||
Masimo * | 507 | 109,309 | ||||||
Medpace Holdings * | 696 | 116,274 |
77
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Founder-Run Companies ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Health Care — continued | ||||||||
Neurocrine Biosciences * | 1,250 | $ | 120,275 | |||||
Oak Street Health * | 1,916 | 115,707 | ||||||
Penumbra * | 386 | 96,157 | ||||||
Regeneron Pharmaceuticals * | 245 | 123,095 | ||||||
Royalty Pharma, Cl A | 2,684 | 107,682 | ||||||
Seagen * | 821 | 127,542 | ||||||
Ultragenyx Pharmaceutical * | 1,043 | 106,084 | ||||||
United Therapeutics * | 585 | 108,752 | ||||||
Veeva Systems, Cl A * | 418 | 121,780 | ||||||
Total Health Care | 1,685,397 | |||||||
Industrials — 5.1% | ||||||||
Axon Enterprise * | 778 | 109,379 | ||||||
CoStar Group * | 138 | 117,852 | ||||||
FedEx | 407 | 128,128 | ||||||
Lyft, Cl A * | 2,121 | 121,088 | ||||||
Sunrun * | 2,410 | 107,775 | ||||||
Total Industrials | 584,222 | |||||||
Information Technology — 30.6% | ||||||||
Affirm Holdings, Cl A * | 1,674 | 101,796 | ||||||
Akamai Technologies * | 1,086 | 124,032 | ||||||
Avalara * | 833 | 110,098 | ||||||
Dell Technologies, Cl C * | 1,184 | 116,790 | ||||||
Dropbox, Cl A * | 4,595 | 125,673 | ||||||
Elastic * | 979 | 115,728 | ||||||
EPAM Systems * | 254 | 121,310 | ||||||
Euronet Worldwide * | 812 | 121,508 | ||||||
Fortinet * | 570 | 124,568 | ||||||
HubSpot * | 221 | 111,468 | ||||||
IPG Photonics * | 544 | 113,837 | ||||||
Monolithic Power Systems | 326 | 111,857 | ||||||
NVIDIA | 197 | 128,007 | ||||||
Okta, Cl A * | 437 | 97,206 |
78
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Founder-Run Companies ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Information Technology — continued | ||||||||
Palantir Technologies, Cl A * | 5,124 | $ | 117,596 | |||||
Paycom Software * | 307 | 101,187 | ||||||
Pegasystems | 931 | 109,988 | ||||||
RingCentral, Cl A * | 371 | 97,376 | ||||||
salesforce.com * | 513 | 122,145 | ||||||
Slack Technologies, Cl A * | 2,785 | 122,651 | ||||||
Square, Cl A * | 482 | 107,255 | ||||||
SS&C Technologies Holdings | 1,569 | 115,902 | ||||||
Synopsys * | 478 | 121,575 | ||||||
Trade Desk, Cl A * | 162 | 95,279 | ||||||
Twilio, Cl A * | 321 | �� | 107,856 | |||||
Ubiquiti | 408 | 123,020 | ||||||
VeriSign * | 539 | 118,537 | ||||||
Workday, Cl A * | 478 | 109,328 | ||||||
Zendesk * | 808 | 110,421 | ||||||
Zoom Video Communications, Cl A * | 370 | 122,666 | ||||||
Zscaler * | 629 | 122,152 | ||||||
Total Information Technology | 3,548,812 | |||||||
Materials — 2.2% | ||||||||
Steel Dynamics | 2,152 | 134,349 | ||||||
Westlake Chemical | 1,242 | 125,281 | ||||||
Total Materials | 259,630 | |||||||
Real Estate — 10.3% | ||||||||
American Campus Communities ‡ | 2,576 | 121,484 | ||||||
American Homes 4 Rent, Cl A ‡ | 3,188 | 121,367 | ||||||
Apartment Income REIT ‡ | 2,616 | 121,853 | ||||||
Camden Property Trust ‡ | 980 | 122,873 | ||||||
Healthcare Trust of America, Cl A ‡ | 4,021 | 110,216 | ||||||
Invitation Homes ‡ | 3,368 | 122,157 | ||||||
Medical Properties Trust ‡ | 5,355 | 113,365 | ||||||
ProLogis ‡ | 1,013 | 119,372 | ||||||
STAG Industrial ‡ | 3,234 | 115,486 |
79
Schedule of Investments
May 31, 2021 (Unaudited)
Global X Founder-Run Companies ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Real Estate — continued | ||||||||
Vornado Realty Trust ‡ | 2,582 | $ | 122,077 | |||||
Total Real Estate | 1,190,250 | |||||||
TOTAL UNITED STATES | 11,573,738 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $9,931,117) | 11,573,738 | |||||||
TOTAL INVESTMENTS — 99.9% | ||||||||
(Cost $9,931,117) | $ | 11,573,738 |
Percentages are based on Net Assets of $11,587,572.
* | Non-income producing security. |
‡ | Real Estate Investment Trust |
Cl — Class
REIT — Real Estate Investment Trust
As of May 31, 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 period ended May 31, 2021, there have been no transfers in or out of Level 3.
80
Global X SuperDividend® Alternatives ETF | Global X S&P 500® Quality Dividend ETF | Global X U.S. Preferred ETF | Global X Variable Rate Preferred ETF | |||||||||||||
Assets: | ||||||||||||||||
Cost of Investments | $ | 21,826,962 | $ | 7,660,449 | $ | 1,761,641,079 | $ | 28,862,307 | ||||||||
Cost of Repurchase Agreement | 1,629,331 | — | 8,453,617 | — | ||||||||||||
Cost of Affiliated Investments | 6,326,090 | — | — | — | ||||||||||||
Investments, at Value | $ | 25,588,984 | * | $ | 9,422,012 | $ | 1,810,534,223 | * | $ | 29,394,519 | ||||||
Repurchase Agreement, at Value | 1,629,331 | — | 8,453,617 | — | ||||||||||||
Affiliated Investments, at Value | 5,314,726 | — | — | — | ||||||||||||
Cash | 126,187 | 12,201 | 32,646,553 | 80,339 | ||||||||||||
Dividend and Interest Receivable | 69,644 | 22,549 | 9,838,288 | 123,823 | ||||||||||||
Receivable for Capital Shares Sold | — | — | 18,003,552 | 558,761 | ||||||||||||
Receivable for Investment Securities Sold | — | — | 14,334,003 | 976,397 | ||||||||||||
Reclaim Receivable | — | 398 | — | — | ||||||||||||
Total Assets | 32,728,872 | 9,457,160 | 1,893,810,236 | 31,133,839 | ||||||||||||
Liabilities: | ||||||||||||||||
Obligation to Return Securities Lending Collateral | 3,327,587 | — | 17,264,840 | — | ||||||||||||
Payable due to Investment Adviser | 18,373 | 1,585 | 339,515 | 5,571 | ||||||||||||
Payable for Investment Securities Purchased | — | — | 61,733,166 | 1,514,468 | ||||||||||||
Total Liabilities | 3,345,960 | 1,585 | 79,337,521 | 1,520,039 | ||||||||||||
Net Assets | $ | 29,382,912 | $ | 9,455,575 | $ | 1,814,472,715 | $ | 29,613,800 | ||||||||
Net Assets Consist of: | ||||||||||||||||
Paid-in Capital | $ | 31,251,349 | $ | 8,241,992 | $ | 1,781,037,715 | $ | 29,007,439 | ||||||||
Total Distributable Earnings/(Loss) | (1,868,437 | ) | 1,213,583 | 33,435,000 | 606,361 | |||||||||||
Net Assets | $ | 29,382,912 | $ | 9,455,575 | $ | 1,814,472,715 | $ | 29,613,800 | ||||||||
Outstanding Shares of Beneficial Interest | ||||||||||||||||
(unlimited authorization — no par value) | 2,180,000 | 300,002 | 70,470,000 | 1,060,000 | ||||||||||||
Net Asset Value, Offering and Redemption Price Per Share | $ | 13.48 | $ | 31.52 | $ | 25.75 | $ | 27.94 | ||||||||
*Includes Market Value of Securities on Loan | $ | 3,246,286 | $ | — | $ | 16,943,491 | $ | — |
Amounts designated as “—” are either $0 or have been rounded to $0.
81
Statements of Assets and Liabilities
May 31, 2021 (Unaudited)
Global X MLP ETF | Global X MLP & Energy Infrastructure ETF | Global X TargetIncomeTM 5 ETF | Global X TargetIncomeTM Plus 2 ETF | |||||||||||||
Assets: | ||||||||||||||||
Cost of Investments | $ | 691,667,540 | $ | 706,430,882 | $ | 2,399,676 | $ | 5,050,723 | ||||||||
Cost of Repurchase Agreement | — | 5,895,215 | — | — | ||||||||||||
Cost of Affiliated Investments | — | — | 4,508,586 | 910,770 | ||||||||||||
Investments, at Value | $ | 961,338,872 | $ | 821,102,469 | * | $ | 2,370,474 | $ | 4,985,516 | |||||||
Repurchase Agreement, at Value | — | 5,895,215 | — | — | ||||||||||||
Affiliated Investments, at Value | — | — | 4,714,491 | 931,001 | ||||||||||||
Cash | 1,975,598 | — | 2,723 | 11,007 | ||||||||||||
Receivable for Investment Securities Sold | 68,801,888 | 25,580,878 | — | — | ||||||||||||
Alternative Minimum Tax Credit | 41,496 | — | — | — | ||||||||||||
Receivable for Capital Shares Sold | — | 697,718 | — | — | ||||||||||||
Dividend and Interest Receivable | — | 1,180,537 | — | — | ||||||||||||
Reclaim Receivable | — | 579,714 | — | — | ||||||||||||
Total Assets | 1,032,157,854 | 855,036,531 | 7,087,688 | 5,927,524 | ||||||||||||
Liabilities: | ||||||||||||||||
Obligation to Return Securities Lending Collateral | — | 12,039,810 | — | — | ||||||||||||
Payable for Investment Securities Purchased | 69,876,902 | 26,436,356 | — | — | ||||||||||||
Payable due to Investment Adviser | 359,008 | 308,931 | 2,194 | 1,896 | ||||||||||||
Income Tax Payable | 167,263 | — | — | — | ||||||||||||
Cash Overdraft | — | 79,558 | — | — | ||||||||||||
Franchise Tax Payable | 29,933 | — | — | — | ||||||||||||
Other Accrued Expenses | 8,596 | — | — | — | ||||||||||||
Total Liabilities | 70,441,702 | 38,864,655 | 2,194 | 1,896 | ||||||||||||
Net Assets | $ | 961,716,152 | $ | 816,171,876 | $ | 7,085,494 | $ | 5,925,628 | ||||||||
Net Assets Consist of: | ||||||||||||||||
Paid-in Capital | $ | 1,184,885,243 | $ | 951,448,125 | $ | 7,099,285 | $ | 6,190,426 | ||||||||
Total Distributable Loss | (223,169,091 | ) | (135,276,249 | ) | (13,791 | ) | (264,798 | ) | ||||||||
Net Assets | $ | 961,716,152 | $ | 816,171,876 | $ | 7,085,494 | $ | 5,925,628 | ||||||||
Outstanding Shares of Beneficial Interest | ||||||||||||||||
(unlimited authorization — no par value) | 26,028,637 | 23,397,506 | 290,002 | 250,002 | ||||||||||||
Net Asset Value, Offering and Redemption Price Per Share | $ | 36.95 | $ | 34.88 | $ | 24.43 | $ | 23.70 | ||||||||
*Includes Market Value of Securities on Loan | $ | — | $ | 11,703,072 | $ | — | $ | — |
Amounts designated as “—” are either $0 or have been rounded to $0.
82
Statements of Assets and Liabilities
May 31, 2021 (Unaudited)
Global X Conscious Companies ETF | Global X Adaptive U.S. Factor ETF | Global X Adaptive U.S. Risk Management ETF | Global X Founder-Run Companies ETF | |||||||||||||
Assets: | ||||||||||||||||
Cost of Investments | $ | 355,092,252 | $ | 153,433,827 | $ | 67,091,065 | $ | 9,931,117 | ||||||||
Investments, at Value | $ | 457,794,389 | $ | 177,320,869 | $ | 72,164,174 | $ | 11,573,738 | ||||||||
Cash | 615,786 | 89,145 | 104,241 | 15,789 | ||||||||||||
Dividend and Interest Receivable | 601,827 | 428,630 | 87,203 | 2,305 | ||||||||||||
Reclaim Receivable | — | 1,374 | 288 | — | ||||||||||||
Total Assets | 459,012,002 | 177,840,018 | 72,355,906 | 11,591,832 | ||||||||||||
Liabilities: | ||||||||||||||||
Payable due to Investment Adviser | 165,728 | 40,372 | 23,280 | 4,260 | ||||||||||||
Total Liabilities | 165,728 | 40,372 | 23,280 | 4,260 | ||||||||||||
Net Assets | $ | 458,846,274 | $ | 177,799,646 | $ | 72,332,626 | $ | 11,587,572 | ||||||||
Net Assets Consist of: | ||||||||||||||||
Paid-in Capital | $ | 331,357,281 | $ | 167,942,686 | $ | 67,049,891 | $ | 9,515,192 | ||||||||
Total Distributable Earnings | 127,488,993 | 9,856,960 | 5,282,735 | 2,072,380 | ||||||||||||
Net Assets | $ | 458,846,274 | $ | 177,799,646 | $ | 72,332,626 | $ | 11,587,572 | ||||||||
Outstanding Shares of Beneficial Interest | ||||||||||||||||
(unlimited authorization — no par value) | 14,950,000 | 5,880,002 | 2,640,000 | 350,000 | ||||||||||||
Net Asset Value, Offering and Redemption Price Per Share | $ | 30.69 | $ | 30.24 | $ | 27.40 | $ | 33.11 |
Amounts designated as “—” are either $0 or have been rounded to $0.
83
For the period ended May 31, 2021 (Unaudited)
Global X SuperDividend® Alternatives ETF | Global X S&P 500® Quality Dividend ETF | Global X U.S. Preferred ETF | Global X Variable Rate Preferred ETF | |||||||||||||
Investment Income: | ||||||||||||||||
Dividend Income | $ | 563,637 | $ | 105,406 | $ | 35,548,494 | $ | 309,893 | ||||||||
Dividend Income, from Affiliated Investments | 146,456 | — | — | — | ||||||||||||
Interest Income | 1 | — | 40,187 | — | ||||||||||||
Security Lending Income | 63,593 | — | 197,087 | — | ||||||||||||
Less: Foreign Taxes Withheld | — | — | (4,590 | ) | (224 | ) | ||||||||||
Total Investment Income | 773,687 | 105,406 | 35,781,178 | 309,669 | ||||||||||||
Supervision and Administration Fees(1) | 90,082 | 7,424 | 1,530,264 | 13,267 | ||||||||||||
Custodian Fees(2) | 74 | 112 | 181 | 6 | ||||||||||||
Total Expenses | 90,156 | 7,536 | 1,530,445 | 13,273 | ||||||||||||
Waiver of Supervision and Administration Fees | – | – | (165 | ) | – | |||||||||||
Net Expenses | 90,156 | 7,536 | 1,530,280 | 13,273 | ||||||||||||
Net Investment Income | 683,531 | 97,870 | 34,250,898 | 296,396 | ||||||||||||
Net Realized Gain (Loss) on: | ||||||||||||||||
Investments(3) | (7,583 | ) | 335,914 | (3,388,522 | ) | (6,451 | ) | |||||||||
Affiliated Investments | (17,881 | ) | — | — | — | |||||||||||
Net Realized Gain (Loss) on Investments | (25,464 | ) | 335,914 | (3,388,522 | ) | (6,451 | ) | |||||||||
Net Change in Unrealized Appreciation on: | ||||||||||||||||
Investments | 3,340,299 | 1,317,680 | 23,505,054 | 434,198 | ||||||||||||
Affiliated Investments | 633,835 | — | — | — | ||||||||||||
Net Change in Unrealized Appreciation on Investments | 3,974,134 | 1,317,680 | 23,505,054 | 434,198 | ||||||||||||
Net Realized and Unrealized Gain on Investments | 3,948,670 | 1,653,594 | 20,116,532 | 427,747 | ||||||||||||
Net Increase in Net Assets Resulting from Operations | $ | 4,632,201 | $ | 1,751,464 | $ | 54,367,430 | $ | 724,143 |
(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.) |
Amounts designated as “—” are either $0 or have been rounded to $0.
84
Statements of Operations
For the period ended May 31, 2021 (Unaudited)
Global X MLP ETF | Global X MLP & Energy Infrastructure ETF | Global X TargetIncomeTM 5 ETF | Global X TargetIncomeTM Plus 2 ETF | |||||||||||||
Investment Income: | ||||||||||||||||
Distributions from Master Limited Partnerships | $ | 34,721,091 | $ | — | $ | — | $ | — | ||||||||
Less: Return of Capital Distributions | (34,721,091 | ) | — | — | — | |||||||||||
Dividend Income | 562,955 | 17,089,671 | 57,242 | 80,330 | ||||||||||||
Dividend Income, from Affiliated Investments | — | — | 75,212 | 8,826 | ||||||||||||
Interest Income | 126 | 21 | — | — | ||||||||||||
Security Lending Income | — | 18,380 | — | — | ||||||||||||
Less: Foreign Taxes Withheld | — | (801,367 | ) | — | — | |||||||||||
Total Investment Income | 563,081 | 16,306,705 | 132,454 | 89,156 | ||||||||||||
Supervision and Administration Fees(1) | 1,763,216 | 1,533,715 | 10,747 | 9,676 | ||||||||||||
Custodian Fees(2) | 11,635 | 6,088 | 118 | 166 | ||||||||||||
Total Expenses | 1,774,851 | 1,539,803 | 10,865 | 9,842 | ||||||||||||
Net Expenses | 1,774,851 | 1,539,803 | 10,865 | 9,842 | ||||||||||||
Net Investment Income (Loss) | (1,211,770 | ) | 14,766,902 | 121,589 | 79,314 | |||||||||||
Net Realized Gain (Loss) on: | ||||||||||||||||
Investments(3) | (19,862,236 | ) | (17,400,451 | ) | (42,096 | ) | (4,124 | ) | ||||||||
Affiliated Investments | — | — | 97,426 | 69 | ||||||||||||
Net Realized Gain (Loss) on Investments and Foreign Currency Translations | (19,862,236 | ) | (17,400,451 | ) | 55,330 | (4,055 | ) | |||||||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||||||
Investments | 312,764,904 | 210,595,337 | (14,200 | ) | (135,748 | ) | ||||||||||
Affiliated Investments | — | — | 264,589 | 20,231 | ||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations | 312,764,904 | 210,595,337 | 250,389 | (115,517 | ) | |||||||||||
Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Translations | 292,902,668 | 193,194,886 | 305,719 | (119,572 | ) | |||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 291,690,898 | $ | 207,961,788 | $ | 427,308 | $ | (40,258 | ) |
(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.) |
Amounts designated as “—” are either $0 or have been rounded to $0.
85
Statements of Operations
For the period ended May 31, 2021 (Unaudited)
Global X Conscious Companies ETF | Global X Adaptive U.S. Factor ETF | Global X Adaptive U.S. Risk Management ETF* | Global X Founder-Run Companies ETF | |||||||||||||
Investment Income: | ||||||||||||||||
Dividend Income | $ | 3,281,562 | $ | 1,577,661 | $ | 307,656 | $ | 70,115 | ||||||||
Interest Income | 14 | — | — | — | ||||||||||||
Less: Foreign Taxes Withheld | (8,568 | ) | — | — | — | |||||||||||
Total Investment Income | 3,273,008 | 1,577,661 | 307,656 | 70,115 | ||||||||||||
Supervision and Administration Fees(1) | 913,444 | 217,823 | 82,453 | 21,586 | ||||||||||||
Custodian Fees(2) | 37 | 177 | — | 15 | ||||||||||||
Total Expenses | 913,481 | 218,000 | 82,453 | 21,601 | ||||||||||||
Net Expenses | 913,481 | 218,000 | 82,453 | 21,601 | ||||||||||||
Net Investment Income | 2,359,527 | 1,359,661 | 225,203 | 48,514 | ||||||||||||
Net Realized Gain (Loss) on: | ||||||||||||||||
Investments(3) | 26,545,401 | 16,550,340 | (15,577 | ) | 528,645 | |||||||||||
Net Realized Gain (Loss) on Investments | 26,545,401 | 16,550,340 | (15,577 | ) | 528,645 | |||||||||||
Net Change in Unrealized Appreciation on: | ||||||||||||||||
Investments | 35,982,828 | 15,755,476 | 5,073,109 | 541,459 | ||||||||||||
Net Change in Unrealized Appreciation on Investments | 35,982,828 | 15,755,476 | 5,073,109 | 541,459 | ||||||||||||
Net Realized and Unrealized Gain on Investments | 62,528,229 | 32,305,816 | 5,057,532 | 1,070,104 | ||||||||||||
Net Increase in Net Assets Resulting from Operations | $ | 64,887,756 | $ | 33,665,477 | $ | 5,282,735 | $ | 1,118,618 |
* | The Fund commenced operations on January 12, 2021. |
(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.) |
Amounts designated as “—” are either $0 or have been rounded to $0.
86
Global X SuperDividend® Alternatives ETF | Global X S&P 500® Quality Dividend ETF | |||||||||||||||
Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | |||||||||||||
Operations: | ||||||||||||||||
Net Investment Income | $ | 683,531 | $ | 1,086,630 | $ | 97,870 | $ | 188,071 | ||||||||
Net Realized Gain (Loss) on Investments and Foreign Currency Translations(1) | (25,464 | ) | (4,112,218 | ) | 335,914 | 471,553 | ||||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations | 3,974,134 | (823,634 | ) | 1,317,680 | (252,255 | ) | ||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | 4,632,201 | (3,849,222 | ) | 1,751,464 | 407,369 | |||||||||||
Distributions | (853,620 | ) | (1,871,599 | ) | (101,601 | ) | (208,533 | ) | ||||||||
Return of Capital | — | (218,100 | ) | — | (950 | ) | ||||||||||
Capital Share Transactions: | ||||||||||||||||
Issued | 6,031,480 | 3,221,003 | 2,103,427 | 8,382,103 | ||||||||||||
Redeemed | — | (5,721,323 | ) | (597,929 | ) | (11,557,981 | ) | |||||||||
Increase (Decrease) in Net Assets from Capital Share Transactions | 6,031,480 | (2,500,320 | ) | 1,505,498 | (3,175,878 | ) | ||||||||||
Total Increase (Decrease) in Net Assets | 9,810,061 | (8,439,241 | ) | 3,155,361 | (2,977,992 | ) | ||||||||||
Net Assets: | ||||||||||||||||
Beginning of Year/Period | 19,572,851 | 28,012,092 | 6,300,214 | 9,278,206 | ||||||||||||
End of Year/Period | $ | 29,382,912 | $ | 19,572,851 | $ | 9,455,575 | $ | 6,300,214 | ||||||||
Share Transactions: | ||||||||||||||||
Issued | 480,000 | 300,000 | 70,000 | 350,000 | ||||||||||||
Redeemed | — | (500,000 | ) | (20,000 | ) | (450,000 | ) | |||||||||
Net Increase (Decrease) in Shares Outstanding from Share Transactions | 480,000 | (200,000 | ) | 50,000 | (100,000 | ) |
(1) | Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.) |
Amounts designated as “—” are either $0 or have been rounded to $0.
87
Statements of Changes in Net Assets
Global X U.S. Preferred ETF | Global X Variable Rate Preferred ETF | |||||||||||||||
Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | Period Ended May 31, 2021 (Unaudited) | Period Ended November 30, 2020(1) | |||||||||||||
Operations: | ||||||||||||||||
Net Investment Income | $ | 34,250,898 | $ | 37,998,789 | $ | 296,396 | $ | 57,108 | ||||||||
Net Realized Gain (Loss) on Investments(2) | (3,388,522 | ) | (6,299,727 | ) | (6,451 | ) | 84,037 | |||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments | 23,505,054 | 18,485,011 | 434,198 | 98,014 | ||||||||||||
Net Increase in Net Assets Resulting from Operations | 54,367,430 | 50,184,073 | 724,143 | 239,159 | ||||||||||||
Distributions | (32,746,870 | ) | (37,989,950 | ) | (225,230 | ) | (49,000 | ) | ||||||||
Capital Share Transactions: | ||||||||||||||||
Issued | 935,704,846 | 520,184,945 | 27,766,246 | 2,485,001 | ||||||||||||
Redeemed | (11,402,827 | ) | (248,979,070 | ) | — | (1,326,519 | ) | |||||||||
Increase in Net Assets from Capital Share Transactions | 924,302,019 | 271,205,875 | 27,766,246 | 1,158,482 | ||||||||||||
Total Increase in Net Assets | 945,922,579 | 283,399,998 | 28,265,159 | 1,348,641 | ||||||||||||
Net Assets: | ||||||||||||||||
Beginning of Year/Period | 868,550,136 | 585,150,138 | 1,348,641 | — | ||||||||||||
End of Year/Period | $ | 1,814,472,715 | $ | 868,550,136 | $ | 29,613,800 | $ | 1,348,641 | ||||||||
Share Transactions: | ||||||||||||||||
Issued | 36,670,000 | 21,150,000 | 1,010,000 | 100,000 | ||||||||||||
Redeemed | (450,000 | ) | (10,500,000 | ) | — | (50,000 | ) | |||||||||
Net Increase in Shares Outstanding from Share Transactions | 36,220,000 | 10,650,000 | 1,010,000 | 50,000 |
(1) | The Fund commenced operations on June 22, 2020. |
(2) | Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.) |
Amounts designated as “—” are either $0 or have been rounded to $0.
88
Statements of Changes in Net Assets
Global X MLP ETF | Global X MLP & Energy Infrastructure ETF | |||||||||||||||
Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | |||||||||||||
Operations: | ||||||||||||||||
Net Investment Income (Loss) | $ | (1,211,770 | ) | $ | (6,359,344 | ) | $ | 14,766,902 | $ | 15,097,236 | ||||||
Net Realized Loss on Investments and Foreign Currency Transactions(1) | (19,862,236 | ) | (324,548,352 | ) | (17,400,451 | ) | (91,676,583 | ) | ||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Transactions | 312,764,904 | (4,748,459 | ) | 210,595,337 | (34,621,560 | ) | ||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | 291,690,898 | (335,656,155 | ) | 207,961,788 | (111,200,907 | ) | ||||||||||
Distributions | — | — | (24,411,222 | ) | (41,140,675 | ) | ||||||||||
Return of Capital | (39,538,319 | ) | (95,194,445 | ) | — | (6,129,052 | ) | |||||||||
Capital Share Transactions: | ||||||||||||||||
Issued | 101,821,071 | 448,082,413 | 119,440,047 | 261,977,997 | ||||||||||||
Redeemed | (79,834,188 | ) | (276,699,657 | ) | (25,162,324 | ) | (177,463,590 | ) | ||||||||
Increase in Net Assets from Capital Share Transactions | 21,986,883 | 171,382,756 | 94,277,723 | 84,514,407 | ||||||||||||
Total Increase (Decrease) in Net Assets | 274,139,462 | (259,467,844 | ) | 277,828,289 | (73,956,227 | ) | ||||||||||
Net Assets: | ||||||||||||||||
Beginning of Year/Period | 687,576,690 | 947,044,534 | 538,343,587 | 612,299,814 | ||||||||||||
End of Year/Period | $ | 961,716,152 | $ | 687,576,690 | $ | 816,171,876 | $ | 538,343,587 | ||||||||
Share Transactions: | ||||||||||||||||
Issued | 3,050,000 | 13,991,667 | 3,950,000 | 9,016,667 | ||||||||||||
Redeemed | (2,740,000 | ) | (9,823,030 | ) | (800,000 | ) | (7,069,161 | ) | ||||||||
Net Increase in Shares Outstanding from Share Transactions | 310,000 | 4,168,637 | 3,150,000 | 1,947,506 |
(1) | Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.) |
Amounts designated as “—” are either $0 or have been rounded to $0.
89
Statements of Changes in Net Assets
Global X TargetIncomeTM 5 ETF | Global X TargetIncomeTM Plus 2 ETF | |||||||||||||||
Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | |||||||||||||
Operations: | ||||||||||||||||
Net Investment Income | $ | 121,589 | $ | 189,117 | $ | 79,314 | $ | 374,284 | ||||||||
Net Realized Gain (Loss) on Investments(1) | 55,330 | (155,034 | ) | (4,055 | ) | (3,386,649 | ) | |||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments | 250,389 | (59,199 | ) | (115,517 | ) | 64,580 | ||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | 427,308 | (25,116 | ) | (40,258 | ) | (2,947,785 | ) | |||||||||
Distributions | (127,731 | ) | (200,326 | ) | (74,551 | ) | (384,302 | ) | ||||||||
Return of Capital | — | (31,932 | ) | — | (10,725 | ) | ||||||||||
Capital Share Transactions: | ||||||||||||||||
Issued | 5,246,304 | 8,365,342 | 1,879,568 | 30,643,465 | ||||||||||||
Redeemed | (3,104,549 | ) | (4,675,523 | ) | (700,485 | ) | (32,186,390 | ) | ||||||||
Increase (Decrease) in Net Assets from Capital Share Transactions | 2,141,755 | 3,689,819 | 1,179,083 | (1,542,925 | ) | |||||||||||
Total Increase (Decrease) in Net Assets | 2,441,332 | 3,432,445 | 1,064,274 | (4,885,737 | ) | |||||||||||
Net Assets: | ||||||||||||||||
Beginning of Year/Period | 4,644,162 | 1,211,717 | 4,861,354 | 9,747,091 | ||||||||||||
End of Year/Period | $ | 7,085,494 | $ | 4,644,162 | $ | 5,925,628 | $ | 4,861,354 | ||||||||
Share Transactions: | ||||||||||||||||
Issued | 220,000 | 350,000 | 80,000 | 1,250,000 | ||||||||||||
Redeemed | (130,000 | ) | (200,000 | ) | (30,000 | ) | (1,450,000 | ) | ||||||||
Net Increase (Decrease) in Shares Outstanding from Share Transactions | 90,000 | 150,000 | 50,000 | (200,000 | ) |
(1) | Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.) |
Amounts designated as “—” are either $0 or have been rounded to $0.
90
Statements of Changes in Net Assets
Global X Conscious Companies ETF | Global X Adaptive U.S. Factor ETF | |||||||||||||||
Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | |||||||||||||
Operations: | ||||||||||||||||
Net Investment Income | $ | 2,359,527 | $ | 3,300,453 | $ | 1,359,661 | $ | 4,315,387 | ||||||||
Net Realized Gain (Loss) on Investments(1) | 26,545,401 | 28,263,788 | 16,550,340 | (11,538,028 | ) | |||||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments | 35,982,828 | 53,212,614 | 15,755,476 | (1,379,090 | ) | |||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | 64,887,756 | 84,776,855 | 33,665,477 | (8,601,731 | ) | |||||||||||
Distributions | (2,371,271 | ) | (1,877,907 | ) | (2,295,181 | ) | (5,174,718 | ) | ||||||||
Return of Capital | — | — | — | (635,325 | ) | |||||||||||
Capital Share Transactions: | ||||||||||||||||
Issued | 60,254,342 | 312,745,124 | 35,691,286 | 158,831,557 | ||||||||||||
Redeemed | (67,423,786 | ) | (77,604,275 | ) | (33,746,274 | ) | (189,499,311 | ) | ||||||||
Increase (Decrease) in Net Assets from Capital Share Transactions | (7,169,444 | ) | 235,140,849 | 1,945,012 | (30,667,754 | ) | ||||||||||
Total Increase (Decrease) in Net Assets | 55,347,041 | 318,039,797 | 33,315,308 | (45,079,528 | ) | |||||||||||
Net Assets: | ||||||||||||||||
Beginning of Year/Period | 403,499,233 | 85,459,436 | 144,484,338 | 189,563,866 | ||||||||||||
End of Year/Period | $ | 458,846,274 | $ | 403,499,233 | $ | 177,799,646 | $ | 144,484,338 | ||||||||
Share Transactions: | ||||||||||||||||
Issued | 2,100,000 | 14,850,000 | 1,350,000 | 6,650,000 | ||||||||||||
Redeemed | (2,400,000 | ) | (3,300,000 | ) | (1,270,000 | ) | (8,200,000 | ) | ||||||||
Net Increase (Decrease) in Shares Outstanding from Share Transactions | (300,000 | ) | 11,550,000 | 80,000 | (1,550,000 | ) |
(1) | Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.) |
Amounts designated as “—” are either $0 or have been rounded to $0.
91
Statements of Changes in Net Assets
Global X Adaptive U.S. Risk Management ETF | Global X Founder-Run Companies ETF | |||||||||||
Period Ended May 31, 2021(1) (Unaudited) | Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | ||||||||||
Operations: | ||||||||||||
Net Investment Income | $ | 225,203 | $ | 48,514 | $ | 21,945 | ||||||
Net Realized Gain (Loss) on Investments(2) | (15,577 | ) | 528,645 | (1,120,416 | ) | |||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments | 5,073,109 | 541,459 | 942,221 | |||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | 5,282,735 | 1,118,618 | (156,250 | ) | ||||||||
Distributions | — | (67,306 | ) | (13,936 | ) | |||||||
Capital Share Transactions: | ||||||||||||
Issued | 67,049,891 | 6,809,151 | 6,247,607 | |||||||||
Redeemed | — | (2,005,146 | ) | (4,444,963 | ) | |||||||
Increase in Net Assets from Capital Share Transactions | 67,049,891 | 4,804,005 | 1,802,644 | |||||||||
Total Increase in Net Assets | 72,332,626 | 5,855,317 | 1,632,458 | |||||||||
Net Assets: | ||||||||||||
Beginning of Year/Period | — | 5,732,255 | 4,099,797 | |||||||||
End of Year/Period | $ | 72,332,626 | $ | 11,587,572 | $ | 5,732,255 | ||||||
Share Transactions: | ||||||||||||
Issued | 2,640,000 | 210,000 | 300,000 | |||||||||
Redeemed | — | (60,000 | ) | (300,000 | ) | |||||||
Net Increase in Shares Outstanding from Share Transactions | 2,640,000 | 150,000 | — |
(1) | The Fund commenced operations on January 12, 2021. |
(2) | Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.) |
Amounts designated as “—” are either $0 or have been rounded to $0.
92
Selected Per Share Data & Ratios
For a Share Outstanding Throughout the Period
Net Asset Value, Beginning of Period ($) | Net Investment Income ($)* | Net Realized and Unrealized Gain (Loss) on Investments ($) | Total from Operations ($) | Distribution from Net Investment Income ($) | Distribution from Capital Gains ($) | |||||||||||||||||||
Global X SuperDividend® Alternatives ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 11.51 | 0.35 | 2.07 | 2.42 | (0.45 | ) | — | |||||||||||||||||
2020 | 14.74 | 0.66 | (2.64 | ) | (1.98 | ) | (0.98 | ) | (0.15 | ) | ||||||||||||||
2019 | 14.52 | 0.94 | 0.44 | 1.38 | (1.07 | ) | (0.09 | ) | ||||||||||||||||
2018 | 15.40 | 0.92 | (0.64 | ) | 0.28 | (1.16 | ) | — | ||||||||||||||||
2017 | 14.65 | 1.04 | 0.85 | 1.89 | (1.01 | ) | — | |||||||||||||||||
2016 | 14.43 | 0.99# | 0.53^ | 1.52 | (1.15 | ) | — | |||||||||||||||||
Global X S&P 500® Quality Dividend ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 25.20 | 0.37 | 6.34 | 6.71 | (0.39 | ) | — | |||||||||||||||||
2020 | 26.51 | 0.75 | (1.24 | ) | (0.49 | ) | (0.82 | ) | — | |||||||||||||||
2019 | 24.60 | 0.75 | 1.89 | 2.64 | (0.73 | ) | — | |||||||||||||||||
2018(2) | 25.00 | 0.26 | (0.44 | ) | (0.18 | ) | (0.22 | ) | — |
93
Financial Highlights
Return of Capital ($) | 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 (%)†† | |||||||||||||||||||||||
— | (0.45 | ) | 13.48 | 21.47 | 29,383 | 0.75 | † | 5.69 | † | 0.66 | ||||||||||||||||||||
(0.12 | ) | (1.25 | ) | 11.51 | (13.13 | ) | 19,573 | 0.75 | 5.61 | 52.78 | ||||||||||||||||||||
— | (1.16 | ) | 14.74 | 9.89 | 28,012 | 0.75 | 6.39 | 18.16 | ||||||||||||||||||||||
— | (1.16 | ) | 14.52 | 1.89 | 16,698 | 0.75 | 6.19 | 18.32 | ||||||||||||||||||||||
(0.13 | ) | (1.14 | ) | 15.40 | 13.24 | 11,549 | 0.75 | 6.75 | 34.84 | |||||||||||||||||||||
(0.15 | ) | (1.30 | ) | 14.65 | 11.04 | 5,127 | 0.75 | 6.78 | 30.80 | |||||||||||||||||||||
— | (0.39 | ) | 31.52 | 26.86 | 9,456 | 0.20 | † | 2.64 | † | 31.53 | ||||||||||||||||||||
— | (1) | (0.82 | ) | 25.20 | (1.47 | ) | 6,300 | 0.20 | 3.27 | 93.40 | ||||||||||||||||||||
— | (0.73 | ) | 26.51 | 11.01 | 9,278 | 0.28 | ‡ | 2.99 | 49.18 | |||||||||||||||||||||
— | (0.22 | ) | 24.60 | (0.72 | ) | 2,460 | 0.36 | † | 2.70 | † | 1.18 |
* | 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. |
# | Effective November 1, 2015, the Fund changed its method for estimating the characterization of amounts distributed by master limited partnerships, which correspondingly impacted the financial highlight ratios and per share disclosures to the extent that the fund recorded investment income that differed from amounts previously estimated. |
^ | The amount shown for a share outstanding throughout the period does not accord with the aggregate net gains on investments for the period because of the sales and repurchases of fund shares in relation to fluctuating market value of the investments of the Fund. |
† | 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, 2019, the Fund’s fees were permanently lowered to 0.20%. 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 0.31% and 0.35%, for the years ended November 30, 2019 and 2018, respectively. |
(1) | Amount is less than $0.005. |
(2) | The Fund commenced operations on July 13, 2018. |
Amounts designated as “—” are either $0 or have been rounded to $0.
94
Financial Highlights
Selected Per Share Data & Ratios
For a Share Outstanding Throughout the Period
Net Asset Value, Beginning of Period ($) | Net Investment Income (Loss) ($)* | Net Realized and Unrealized Gain (Loss) on Investments ($) | Total from Operations ($) | Distribution from Net Investment Income ($) | Distribution from Capital Gains ($) | |||||||||||||||||||
Global X U.S. Preferred ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 25.36 | 0.65 | 0.39 | 1.04 | (0.65 | ) | — | |||||||||||||||||
2020 | 24.79 | 1.33 | 0.58 | 1.91 | (1.34 | ) | — | |||||||||||||||||
2019 | 22.97 | 1.36 | 1.83 | 3.19 | (1.37 | ) | — | |||||||||||||||||
2018 | 25.03 | 1.44 | (2.08 | ) | (0.64 | ) | (1.42 | ) | — | |||||||||||||||
2017(1) | 25.08 | 0.44 | (0.25 | ) | 0.19 | (0.24 | ) | — | ||||||||||||||||
Global X Variable Rate Preferred ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 26.97 | 0.77 | 0.93 | 1.70 | (0.71 | ) | (0.02 | ) | ||||||||||||||||
2020(2) | 24.85 | 0.61 | 2.00 | 2.61 | (0.49 | ) | — | |||||||||||||||||
Global X MLP ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 26.73 | (0.05 | ) | 11.87 | 11.82 | — | — | |||||||||||||||||
2020(3) | 43.92 | (0.26 | ) | (13.13 | ) | (13.39 | ) | — | — | |||||||||||||||
2019(3) | 51.24 | (0.24 | ) | (2.76 | ) | (3.00 | ) | — | — | |||||||||||||||
2018(3) | 56.52 | (0.24 | ) | (0.42 | ) | (0.66 | ) | (0.12 | ) | — | ||||||||||||||
2017(3) | 67.44 | (0.30 | ) | (5.88 | ) | (6.18 | ) | — | *** | — | ||||||||||||||
2016(3) | 63.36 | (0.42 | ) | 9.48 | 9.06 | (0.12 | ) | — |
95
Financial Highlights
Return of Capital ($) | Total from Distributions ($) | Net Asset Value, End of Period ($) | Total Return (%)** | Net Assets End of Period ($)(000) | Ratio of Expenses to Average Net Assets (%) | Tax Expenses (%) | Tax Benefit (%) | Ratio of Net Investment Income (Loss) to Average Net Assets (%) | Portfolio Turnover (%)†† | |||||||||||||||||||||||||||||
— | (0.65 | ) | 25.75 | 4.17 | 1,814,473 | 0.23 | † | — | — | 5.15 | † | 20.44 | ||||||||||||||||||||||||||
— | (1.34 | ) | 25.36 | 8.13 | 868,550 | 0.23^^ | — | — | 5.49 | 39.14 | ||||||||||||||||||||||||||||
— | (1.37 | ) | 24.79 | 14.25 | 585,150 | 0.24 | — | — | 5.57 | 32.93 | ||||||||||||||||||||||||||||
— | (1.42 | ) | 22.97 | (2.72 | ) | 188,314 | 0.23 | — | — | 5.98 | 42.90 | |||||||||||||||||||||||||||
— | (0.24 | ) | 25.03 | 0.75 | 26,276 | 0.23 | † | — | — | 8.01 | † | 3.82 | ||||||||||||||||||||||||||
— | (0.73 | ) | 27.94 | 6.40 | 29,614 | 0.25 | † | — | — | 5.58 | † | 14.71 | ||||||||||||||||||||||||||
— | (0.49 | ) | 26.97 | 10.59 | 1,349 | 0.25 | † | — | — | 5.38 | † | 10.96 | ||||||||||||||||||||||||||
(1.60 | ) | (1.60 | ) | 36.95 | 45.18 | 961,716 | 0.45 | † | — | — | (0.31 | )† | 29.29 | |||||||||||||||||||||||||
(3.80 | ) | (3.80 | ) | 26.73 | (30.51 | ) | 687,577 | 0.46 | 0.46 | (4) | — | (5) | (0.85 | ) | 33.78 | |||||||||||||||||||||||
(4.32 | ) | (4.32 | ) | 43.92 | (6.54 | ) | 947,045 | 0.46 | — | (4) | — | (5) | (0.46 | ) | 55.65 | |||||||||||||||||||||||
(4.50 | ) | (4.62 | ) | 51.24 | (1.72 | ) | 828,622 | 0.45 | — | (4) | — | (5) | (0.45 | ) | 30.35 | |||||||||||||||||||||||
(4.74 | ) | (4.74 | ) | 56.52 | (9.85 | ) | 692,954 | 0.35 | (0.11 | )(4) | — | (5) | (0.46 | ) | 35.11 | |||||||||||||||||||||||
(4.86 | ) | (4.98 | ) | 67.44 | 15.34 | 373,566 | 0.50 | 0.03 | (4) | (0.23 | )(5) | (0.70 | ) | 37.20 |
* | 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. |
*** | Amount is less than $0.005. |
^^ | Effective April 1, 2020 until April 1, 2021, the ratio of Expenses to Average Net Assets includes the effect of a waiver. If these offsets were excluded, the ratio would have been 0.23%. |
† | 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 September 11, 2017. |
(2) | The Fund commenced operations on June 22, 2020. |
(3) | Per share amounts have been adjusted for a 1 for 6 reverse stock split on April 28, 2020 (see Note 9 in the Notes to Financial Statements). |
(4) | The Before Net Deferred Tax Expense ratios for the years ending November 30, 2016, 2017, 2018, 2019, and 2020 was 0.47%, 0.46%, 0.45%, 0.46%, and 0.45%. |
(5) | The Before Net Tax Benefit for the years ending November 30, 2016, 2017, 2018, 2019, and 2020 was (0.47%), (0.46%), (0.45%), (0.46%) and (0.39%). |
Amounts designated as “—” are either $0 or have been rounded to $0.
96
Financial Highlights
Selected Per Share Data & Ratios
For a Share Outstanding Throughout the Period
Net Asset Value, Beginning of Period ($) | Net Investment Income ($)* | Net Realized and Unrealized Gain (Loss) on Investments ($) | Total from Operations ($) | Distribution from Net Investment Income ($) | Distribution from Capital Gains ($) | |||||||||||||||||||
Global X MLP & Energy Infrastructure ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 26.59 | 0.67 | 8.71 | 9.38 | (1.09 | ) | — | |||||||||||||||||
2020(1) | 33.45 | 0.71 | (5.33 | ) | (4.62 | ) | (1.95 | ) | — | |||||||||||||||
2019(1) | 36.39 | 1.14 | (1.89 | ) | (0.75 | ) | (2.01 | ) | — | |||||||||||||||
2018(1) | 38.40 | 1.05 | (1.11 | ) | (0.06 | ) | (1.56 | ) | — | |||||||||||||||
2017(1) | 44.46 | 0.93 | (4.62 | ) | (3.69 | ) | (2.16 | ) | — | |||||||||||||||
2016(1) | 40.41 | 1.08 | 4.77 | 5.85 | (1.80 | ) | — | |||||||||||||||||
Global X TargetIncomeTM 5 ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 23.22 | 0.53 | 1.25 | 1.78 | (0.57 | ) | — | |||||||||||||||||
2020 | 24.23 | 0.95 | (0.68 | ) | 0.27 | (1.10 | ) | — | ||||||||||||||||
2019 | 23.95 | 1.43 | 0.30 | 1.73 | (1.44 | ) | (0.01 | ) | ||||||||||||||||
2018(2) | 25.00 | 0.48 | (1.19 | ) | (0.71 | ) | (0.34 | ) | — | |||||||||||||||
Global X TargetIncomeTM Plus 2 ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 24.31 | 0.38 | (0.63 | ) | (0.25 | ) | (0.36 | ) | — | |||||||||||||||
2020 | 24.37 | 0.85 | (0.09 | ) | 0.76 | (0.80 | ) | — | ||||||||||||||||
2019 | 23.98 | 1.06 | 0.67 | 1.73 | (1.33 | ) | (0.01 | ) | ||||||||||||||||
2018(2) | 25.00 | 0.47 | (1.15 | ) | (0.68 | ) | (0.34 | ) | — |
97
Financial Highlights
Return of Capital ($) | Total from Distributions ($) | Net Asset Value, End of Period ($) | Total Return (%)** | Net Assets End of Period ($)(000) | Ratio of Expenses to Average Net Assets (%) | Ratio of Net Investment Income to Average Net Assets (%) | Portfolio Turnover (%)†† | |||||||||||||||||||||||
— | (1.09 | ) | 34.88 | 35.82 | 816,172 | 0.45 | † | 4.33 | † | 11.77 | ||||||||||||||||||||
(0.29 | ) | (2.24 | ) | 26.59 | (13.34 | ) | 538,344 | 0.45 | 2.66 | 35.86 | ||||||||||||||||||||
(0.18 | ) | (2.19 | ) | 33.45 | (2.34 | ) | 612,300 | 0.45 | 3.03 | 36.57 | ||||||||||||||||||||
(0.39 | ) | (1.95 | ) | 36.39 | (0.43 | ) | 540,381 | 0.45 | 2.65 | 25.68 | ||||||||||||||||||||
(0.21 | ) | (2.37 | ) | 38.40 | (8.71 | ) | 305,980 | 0.45 | 2.20 | 40.42 | ||||||||||||||||||||
— | (1.80 | ) | 44.46 | 15.45 | 130,451 | 0.45 | 2.79 | 56.14 | ||||||||||||||||||||||
— | (0.57 | ) | 24.43 | 7.76 | 7,085 | 0.39 | † | 4.41 | † | 53.98 | ||||||||||||||||||||
(0.18 | ) | (1.28 | ) | 23.22 | 1.34 | 4,644 | 0.39 | 4.16 | 58.11 | |||||||||||||||||||||
— | (1.45 | ) | 24.23 | 7.54 | 1,212 | 0.40 | 5.98 | 63.30 | ||||||||||||||||||||||
— | (0.34 | ) | 23.95 | (2.86 | ) | 2,395 | 0.39 | † | 5.65 | † | 16.00 | |||||||||||||||||||
— | (0.36 | ) | 23.70 | (1.02 | ) | 5,926 | 0.39 | † | 3.20 | † | 29.20 | |||||||||||||||||||
(0.02 | ) | (0.82 | ) | 24.31 | 3.22 | 4,861 | 0.39 | 3.53 | 28.85 | |||||||||||||||||||||
— | (1.34 | ) | 24.37 | 7.44 | 9,747 | 0.39 | 4.37 | 31.54 | ||||||||||||||||||||||
— | (0.34 | ) | 23.98 | (2.74 | ) | 2,399 | 0.39 | † | 5.57 | † | 11.11 |
* | Per share data calculated using average shares method. |
** | Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. |
† | Annualized. |
†† | Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers. |
(1) | Per share amounts have been adjusted for a 1 for 3 reverse share split on April 28, 2020 (See Note 9 in Notes to Financial Statements. |
(2) | The Fund commenced operations on July 27, 2018. |
Amounts designated as “—” are either $0 or have been rounded to $0.
98
Financial Highlights
Selected Per Share Data & Ratios
For a Share Outstanding Throughout the Period
Net Asset Value, Beginning of Period ($) | Net Investment Income ($)* | Net Realized and Unrealized Gain (Loss) on Investments ($) | Total from Operations ($) | Distribution from Net Investment Income ($) | Distribution from Capital Gains ($) | |||||||||||||||||||
Global X Conscious Companies ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 26.46 | 0.16 | 4.23 | 4.39 | (0.16 | ) | — | |||||||||||||||||
2020 | 23.10 | 0.33 | 3.32 | 3.65 | (0.27 | ) | (0.02 | ) | ||||||||||||||||
2019 | 20.55 | 0.37 | 2.68 | 3.05 | (0.50 | ) | — | |||||||||||||||||
2018 | 19.23 | 0.33 | 1.22 | 1.55 | (0.23 | ) | — | |||||||||||||||||
2017 | 15.79 | 0.26 | 3.33 | 3.59 | (0.15 | ) | — | |||||||||||||||||
2016(1) | 15.09 | 0.15 | 0.55 | 0.70 | — | — | ||||||||||||||||||
Global X Adaptive U.S. Factor ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 24.91 | 0.23 | 5.49 | 5.72 | (0.39 | ) | — | |||||||||||||||||
2020 | 25.79 | 0.63 | (0.67 | ) | (0.04 | ) | (0.70 | ) | (0.05 | ) | ||||||||||||||
2019 | 24.39 | 0.89 | 1.53 | 2.42 | (1.02 | ) | — | *** | ||||||||||||||||
2018(2) | 25.00 | 0.22 | (0.61 | ) | (0.39 | ) | (0.19 | ) | — | |||||||||||||||
Global X Adaptive U.S. Risk Management ETF | ||||||||||||||||||||||||
2021(3) (Unaudited) | 24.95 | 0.11 | 2.34 | 2.45 | — | — | ||||||||||||||||||
Global X Founder-Run Companies ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 28.66 | 0.16 | 4.63 | 4.79 | (0.34 | ) | — | |||||||||||||||||
2020 | 20.50 | 0.09 | 8.14 | 8.23 | (0.07 | ) | — | |||||||||||||||||
2019 | 18.63 | 0.05 | 2.12 | 2.17 | (0.07 | ) | (0.23 | ) | ||||||||||||||||
2018 | 17.41 | 0.04 | 1.45 | 1.49 | (0.04 | ) | (0.23 | ) | ||||||||||||||||
2017(4) | 15.02 | 0.04 | 2.35 | 2.39 | — | — |
99
Financial Highlights
Return of Capital ($) | Total from Distributions ($) | Net Asset Value, End of Period ($) | Total Return (%)** | Net Assets End of Period ($)(000) | Ratio of Expenses to Average Net Assets (%) | Ratio of Net Investment Income to Average Net Assets (%) | Portfolio Turnover (%)†† | |||||||||||||||||||||||
— | (0.16 | ) | 30.69 | 16.67 | 458,846 | 0.43 | † | 1.11 | † | 5.24 | ||||||||||||||||||||
— | (0.29 | ) | 26.46 | 16.01 | 403,499 | 0.43 | 1.45 | 48.73 | ||||||||||||||||||||||
— | (0.50 | ) | 23.10 | 15.35 | 85,459 | 0.43 | 1.73 | 34.97 | ||||||||||||||||||||||
— | (0.23 | ) | 20.55 | 8.16 | 56,504 | 0.43 | 1.65 | 36.35 | ||||||||||||||||||||||
— | (0.15 | ) | 19.23 | 22.95 | 48,065 | 0.43 | 1.50 | 41.77 | ||||||||||||||||||||||
— | — | 15.79 | 4.64 | 33,163 | 0.43 | † | 2.57 | † | 37.35 | |||||||||||||||||||||
— | (0.39 | ) | 30.24 | 23.11 | 177,800 | 0.27 | † | 1.68 | † | 39.51 | ||||||||||||||||||||
(0.09 | ) | (0.84 | ) | 24.91 | 0.14 | 144,484 | 0.27 | 2.78 | 159.91 | |||||||||||||||||||||
— | (1.02 | ) | 25.79 | 10.27 | 189,564 | 0.27 | 3.63 | 112.43 | ||||||||||||||||||||||
(0.03 | ) | (0.22 | ) | 24.39 | (1.58 | ) | 102,438 | 0.27 | † | 3.31 | † | 28.89 | ||||||||||||||||||
— | — | 27.40 | 9.82 | 72,333 | 0.39 | † | 1.06 | † | 1.42 | |||||||||||||||||||||
— | (0.34 | ) | 33.11 | 16.82 | 11,588 | 0.45 | † | 1.01 | † | 37.89 | ||||||||||||||||||||
— | (0.07 | ) | 28.66 | 40.29 | 5,732 | 0.45 | 0.39 | 31.51 | ||||||||||||||||||||||
— | (0.30 | ) | 20.50 | 12.05 | 4,100 | 0.52 | 0.29 | 33.82 | ||||||||||||||||||||||
— | (0.27 | ) | 18.63 | 8.67 | 4,657 | 0.65 | 0.13 | 25.22 | ||||||||||||||||||||||
— | — | 17.41 | 15.91 | 3,483 | 0.65 | † | 0.33 | † | 21.61 |
* | 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 July 11, 2016. |
(2) | The Fund commenced operations on August 24, 2018. |
(3) | The Fund commenced operations on January 12, 2021. |
(4) | The Fund commenced operations on February 13, 2017. |
100
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, as an open-end management investment company. As of May 31, 2021, the Trust had ninety-nine portfolios, eighty-one of which were operational. The financial statements herein and the related notes pertain to the Global X SuperDividend® Alternatives ETF, Global X S&P 500® Quality Dividend ETF, Global X U.S. Preferred ETF, Global X Variable Rate Preferred ETF, Global X MLP ETF, Global X MLP & Energy Infrastructure ETF, Global X TargetIncomeTM 5 ETF, Global X TargetIncomeTM Plus 2 ETF, Global X Conscious Companies ETF, Global X Adaptive U.S. Factor ETF, Global X Adaptive U.S. Risk Management ETF, and Global X Founder-Run Companies ETF (each a “Fund” and collectively, the “Funds”). Each Fund, other than the Global X SuperDividend® Alternatives ETF and Global X Conscious Companies ETF, has elected non-diversified status.
2. SIGNIFICANT ACCOUNTING POLICIES
The following is a summary of the significant accounting policies followed by the Funds:
USE OF ESTIMATES – The Funds are investment companies that apply the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board. The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could materially differ from those estimates.
RETURN OF CAPITAL ESTIMATES – Distributions received by the Funds from underlying master limited partnership (“MLP”) and real estate investment trust (“REIT”) investments generally are comprised of income and return of capital. The Funds record investment income and return of capital based on estimates made at the time such distributions are received. Such estimates are based on historical information available from the MLPs, REITs and other industry sources. These estimates may subsequently be revised based on information received from the MLPs and REITs after their tax reporting periods are concluded.
MLPs – Certain Funds may invest in MLPs in addition to other exchange-traded securities. MLPs are publicly-traded partnerships engaged in the transportation, storage and processing of minerals and natural resources. By confining their operations to these specific activities, their interests, or units, are able to trade on public securities exchanges exactly like the shares of a corporation, without entity-level taxation. To qualify as an MLP, and to not be taxed as a corporation, a partnership must receive at least 90% of its income from qualifying sources as set forth in Section 7704(d) of the Internal Revenue Code of 1986, as amended (the “Code”). These qualifying sources include natural
101
Notes to Financial Statements (Unaudited) (Continued)
May 31, 2021
2. SIGNIFICANT ACCOUNTING POLICIES (continued)
resource-based activities, such as the processing, transportation and storage of mineral or natural resources. MLPs generally have two classes of owners, the general partner and limited partners. The general partner of an MLP is typically owned by a major energy company, an investment fund, the direct management of the MLP, or is an entity owned by one or more of such parties. The general partner may be structured as a private or publicly-traded corporation or other entity. The general partner typically controls the operations and management of the MLP through an up to 2% equity interest in the MLP plus, in many cases, ownership of common units and subordinated units.
Limited partners typically own the remainder of the partnership, through ownership of common units, and have a limited role in the partnership’s operations and management. MLPs are typically structured such that common units and general partner interests have first priority to receive quarterly cash distributions up to an established minimum amount (“minimum quarterly distributions” or “MQD”). Common and general partner interests also accrue arrearages in distributions to the extent the MQD is not paid. Once common and general partner interests have been paid, subordinated units receive distributions of up to the MQD; however, subordinated units do not accrue arrearages. Distributable cash in excess of the MQD is paid to both common and subordinated units and is distributed to both common and subordinated units generally on a pro rata basis. The general partner is also eligible to receive incentive distributions if the general partner operates the business in a manner which results in distributions paid per common unit surpassing specified target levels. As the general partner increases cash distributions to the limited partners, the general partner receives an increasingly higher percentage of the incremental cash distributions.
SECURITY VALUATION – Securities listed on a securities exchange, market or automated quotation system for which quotations are readily available (except for securities traded on the NASDAQ Stock Market (“NASDAQ”)), including securities traded over the counter, are valued at the last quoted sale price on the primary exchange or market (foreign or domestic) on which they are traded (or at approximately 4:00 pm Eastern Standard Time if a security’s primary exchange is normally open at that time), or, if there is no such reported sale, at the most recent mean between the quoted bid and asked prices (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 will be valued at their market value. Prices for most securities held in the Funds are provided daily by recognized independent pricing agents. If a security price cannot be
102
Notes to Financial Statements (Unaudited) (Continued)
May 31, 2021
2. SIGNIFICANT ACCOUNTING POLICIES (continued)
obtained from an independent, third-party pricing agent, the Funds seek to obtain a bid price from at least one independent broker. 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.
Securities for which market prices are not “readily available” are valued in accordance with Fair Value Procedures established by the Board of Trustees (the “Board”). 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, the Funds may fair value their securities if an event that may materially affect the value of the Funds’ securities that traded outside of the United States (a “Significant Event”) has occurred between the time of the securities’ last close and the time that the Funds calculate their net asset values. A Significant Event may relate to a single issuer or to an entire market sector. Events that may be Significant Events include: government actions, natural disasters, armed conflict, acts of terrorism and significant market fluctuations. If 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 net asset values, 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 May 31, 2021, there were no 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:
103
Notes to Financial Statements (Unaudited) (Continued)
May 31, 2021
2. SIGNIFICANT ACCOUNTING POLICIES (continued)
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 and fair value of investments for which the Funds have the ability to fully redeem tranches at net asset value 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 net asset value 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 period ended May 31, 2021, there have been no significant changes to the Funds’ fair valuation methodologies.
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 its 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 other party 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.
Repurchase agreements are entered into by the Funds under Master Repurchase Agreements (“MRA”) which permit the Funds, under certain circumstances, including an event of default (such as bankruptcy or insolvency), to offset payables and/or receivables under an MRA with collateral held and/or posted to the counterparty, and create one single net payment due to or from the Funds.
104
Notes to Financial Statements (Unaudited) (Continued)
May 31, 2021
2. SIGNIFICANT ACCOUNTING POLICIES (continued)
As of May 31, 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 SuperDividend® Alternatives ETF | ||||||||||||||||
BNP Paribas | $ | 1,629,331 | $ | 1,629,331 | $ | − | $ | − | ||||||||
Global X U.S. Preferred ETF | ||||||||||||||||
BNP Paribas | 8,453,617 | 8,453,617 | − | − | ||||||||||||
Global X MLP & Energy Infrastructure ETF | ||||||||||||||||
BNP Paribas | 5,895,215 | 5,895,215 | − | − |
(1) | Excess collateral received is not presented in the table above. Please refer to the Schedule 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, except for Global X MLP ETF, to continue to qualify as a regulated investment company for federal income tax purposes by complying with the appropriate provisions of Subchapter M of the Code. Accordingly, no provisions for federal income taxes have been made in the financial statements, except for Global X MLP ETF.
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; however, management’s conclusions regarding tax positions may be subject to review and adjustment at a later date based on factors including, but not limited to, examination by tax authorities (i.e., the last three tax year ends, as applicable), and on-going analysis of and changes to tax laws and regulations, and interpretations thereof. Any foreign tax filings that have not been made will be filed within the prescribed period.
As of and during the period ended May 31, 2021, the Funds, except for Global X MLP ETF, 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 Statement 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.
Global X MLP ETF is taxed as a regular C‐corporation for federal income tax purposes and as such is obligated to pay federal and applicable state corporate income tax.
105
Notes to Financial Statements (Unaudited) (Continued)
May 31, 2021
2. SIGNIFICANT ACCOUNTING POLICIES (continued)
Currently, the federal income tax rate for a corporation is 21%. This differs from most investment companies, which elect to be treated as “regulated investment companies” under Subchapter M of the Code in order to avoid paying entity level income taxes. Under current law, Global X MLP ETF is not eligible to elect treatment as regulated investment company due to its investments primarily in MLPs invested in energy assets. As a result, Global X MLP ETF will be obligated to pay applicable federal and state corporate income taxes on its taxable income as opposed to most other investment companies, which are not so obligated. Global X MLP ETF expects that a portion of the distributions that are received from MLPs may be treated as a tax‐deferred return of capital, thus reducing Global X MLP ETF’s current tax liability. However, the amount of taxes currently paid by Global X MLP ETF will vary depending on the amount of income and gains derived from investments and/or sales of MLP interests and such taxes have the potential to reduce an investor’s return from an investment in Global X MLP ETF.
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.
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 Statement 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.
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.
Cash distributions from MLPs to Global X MLP ETF that exceed the Global X MLP ETF’s allocable share of such MLP’s net taxable income are considered tax‐deferred return of capital that will reduce Global X MLP ETF’s adjusted tax basis in the equity
106
Notes to Financial Statements (Unaudited) (Continued)
May 31, 2021
2. SIGNIFICANT ACCOUNTING POLICIES (continued)
securities of the MLP. These reductions in Global X MLP ETF’s adjusted tax basis in MLP equity securities will increase the amount of gain (or decrease the amount of loss) recognized by Global X MLP ETF on a subsequent sale of the securities. Global X MLP ETF will accrue deferred income taxes for any future tax liability associated with (i) that portion of MLP distributions considered to be a tax‐deferred return of capital as well as (ii) capital appreciation of its investments. Upon the sale of an MLP security, Global X MLP ETF may be liable for previously deferred taxes. Global X MLP ETF will rely to some extent on information provided by the MLPs, which may not necessarily be timely, to estimate deferred tax liability for purposes of financial statement reporting and determining Global X MLP ETF’s net asset value (“NAV”). From time to time, the Adviser will modify the estimates or assumptions related to Global X MLP ETF’s deferred tax liabilities as new information becomes available. Global X MLP ETF will generally compute deferred income taxes based on the federal income tax rate applicable to corporations and an estimated rate attributable to state taxes.
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.
CREATION UNITS – The Funds issue and redeem their shares (“Shares”) on a continuous basis at net asset value (“NAV”) and only in large blocks of 10,000 Shares, referred to as “Creation Units”. Purchasers of Creation Units (“Authorized Participants”) at NAV must pay a standard creation transaction fee per transaction. The fee is a single charge and will be the same regardless of the number of Creation Units purchased by an Authorized Participant on the same day.
An Authorized Participant who holds Creation Units and wishes to redeem at NAV would also pay a standard redemption fee per transaction to BBH, the Funds’ custodian, on the date of such redemption, regardless of the number of Creation Units redeemed that day.
107
Notes to Financial Statements (Unaudited) (Continued)
May 31, 2021
2. SIGNIFICANT ACCOUNTING POLICIES (continued)
If a Creation Unit is purchased or redeemed for cash, an additional variable fee may be charged. The following table discloses Creation Unit breakdown:
Creation Unit Shares | Creation Fee | Value at May 31, 2021 | Redemption Fee | |||||||||||||
Global X SuperDividend® Alternatives ETF | 10,000 | $ | 300 | $ | 134,800 | $ | 300 | |||||||||
Global X S&P 500® Quality Dividend ETF | 10,000 | 500 | 315,200 | 500 | ||||||||||||
Global X U.S. Preferred ETF | 10,000 | 650 | 257,500 | 650 | ||||||||||||
Global X Variable Rate Preferred ETF | 10,000 | 300 | 279,400 | 300 | ||||||||||||
Global X MLP ETF | 10,000 | 250 | 369,500 | 250 | ||||||||||||
Global X MLP & Energy Infrastructure ETF | 10,000 | 250 | 348,800 | 250 | ||||||||||||
Global X TargetIncomeTM 5 ETF | 10,000 | 250 | 244,300 | 250 | ||||||||||||
Global X TargetIncomeTM Plus 2 ETF | 10,000 | 250 | 237,000 | 250 | ||||||||||||
Global X Conscious Companies ETF | 10,000 | 750 | 306,900 | 750 | ||||||||||||
Global X Adaptive U.S. Factor ETF | 10,000 | 700 | 302,400 | 700 | ||||||||||||
Global X Adaptive U.S. Risk Management ETF | 10,000 | 1,300 | 274,000 | 1,300 | ||||||||||||
Global X Founder-Run Companies ETF | 10,000 | 400 | 331,100 | 400 |
3. RELATED PARTY AND SERVICE PROVIDER TRANSACTIONS
On July 2, 2018, the Adviser consummated a transaction pursuant to which it became an indirect, wholly-owned subsidiary of Mirae Asset Global Investments Co., Ltd. (“Mirae”). In this manner, the Adviser is ultimately controlled by Mirae, which is a leading financial services company in Korea and is the headquarters for the Mirae Asset Global Investments Group.
The Adviser serves as the investment adviser and the administrator for the Funds. Subject to the supervision of the Board, the Adviser is responsible for managing the investment activities of the Funds and the Funds’ business affairs and other administrative matters and provides or causes to be furnished all supervisory, administrative and other services reasonably necessary for the operation of the Funds, including certain distribution services (provided pursuant to a separate distribution agreement), certain shareholder and distribution-related services (provided pursuant to a separate Rule 12b-1 Plan and related agreements) and investment advisory services (provided pursuant to a separate investment advisory agreement), under what is essentially an “all-in” fee structure. For the Adviser’s services to the respective Funds, under the supervision and administration agreement, the Funds pay 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) (the “Supervision and Administration Fee”). 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,
108
Notes to Financial Statements (Unaudited) (Continued)
May 31, 2021
3. RELATED PARTY AND SERVICE PROVIDER TRANSACTIONS (continued)
commissions, acquired fund fees and expenses, and other transaction expenses, interest expenses and extraordinary expenses (such as litigation and indemnification expenses).
The following table discloses the rates of Supervision and Administration Fees paid by the Funds pursuant to the supervision and administration agreement:
Supervision and Administration Fee | ||||
Global X SuperDividend® Alternatives ETF | 0.75 | % | ||
Global X S&P 500® Quality Dividend ETF | 0.20 | % | ||
Global X U.S. Preferred ETF* | 0.23 | % | ||
Global X Variable Rate Preferred ETF | 0.25 | % | ||
Global X MLP ETF | 0.45 | % | ||
Global X MLP & Energy Infrastructure ETF | 0.45 | % | ||
Global X TargetIncomeTM 5 ETF | 0.39 | % | ||
Global X TargetIncomeTM Plus 2 ETF | 0.39 | % | ||
Global X Conscious Companies ETF | 0.43 | % | ||
Global X Adaptive U.S. Factor ETF | 0.27 | % | ||
Global X Adaptive U.S. Risk Management ETF | 0.39 | % | ||
Global X Founder-Run Companies ETF | 0.45 | % |
* Pursuant to an expense limitation agreement in existence between the Global X U.S. Preferred ETF (the “Fund”) and the Adviser, prior to April 1, 2021 the Adviser agreed to waive or reimburse fees and/or limit fund expenses to the extent necessary to assure that the operating expenses of the Fund (exclusive of taxes, brokerage fees, commissions, and other transaction expenses and extraordinary expenses (such as litigation and indemnification expenses)) would not exceed 0.23% of the Fund’s average daily net assets per year, effective April 1, 2020, until 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 NAVs; and assistance with the preparation and filing of reports, registration statements, proxy statements and other materials required to be filed or furnished by the Funds under federal and state securities laws. As compensation for these services, SEIGFS receives certain out-of-pocket costs, transaction fees and asset-based fees which are accrued daily and paid monthly by the Adviser.
SEI Investments Distribution Co. (“SIDCO”) serves as the Funds’ underwriter and distributor of Creation Units pursuant to a distribution agreement. SIDCO has no obligation to sell any specific quantity of Fund Shares. SIDCO bears the following costs and expenses relating to the distribution of Shares: (1) the costs of processing and
109
Notes to Financial Statements (Unaudited) (Continued)
May 31, 2021
3. RELATED PARTY AND SERVICE PROVIDER TRANSACTIONS (continued)
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 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.
4. INVESTMENT TRANSACTIONS
For the period ended May 31, 2021, the purchases and sales of investments in securities, excluding in-kind transactions, long-term U.S. Government, and short-term securities were:
2021 | Purchases | Sales and Maturities | ||||||
Global X SuperDividend® Alternatives ETF | $ | 158,602 | $ | 431,937 | ||||
Global X S&P 500® Quality Dividend ETF | 2,322,781 | 2,335,735 | ||||||
Global X U.S. Preferred ETF | 269,900,746 | 270,048,313 | ||||||
Global X Variable Rate Preferred ETF | 1,657,142 | 1,739,126 | ||||||
Global X MLP ETF | 225,715,167 | 346,238,831 | ||||||
Global X MLP & Energy Infrastructure ETF | 78,195,168 | 93,679,395 | ||||||
Global X TargetIncomeTM 5 ETF | 2,961,681 | 2,959,073 | ||||||
Global X TargetIncomeTM Plus 2 ETF | 1,473,056 | 1,472,867 | ||||||
Global X Conscious Companies ETF | 22,395,258 | 23,915,500 | ||||||
Global X Adaptive U.S. Factor ETF | 63,474,428 | 62,977,075 | ||||||
Global X Founder-Run Companies ETF | 3,600,272 | 3,619,536 |
110
Notes to Financial Statements (Unaudited) (Continued)
May 31, 2021
4. INVESTMENT TRANSACTIONS (continued)
For the period ended May 31, 2021, in-kind transactions associated with creations and redemptions were:
2020 | Purchases | Sales | Realized Gain/(Loss) | |||||||||
Global X SuperDividend® Alternatives ETF | $ | 6,007,282 | $ | − | $ | − | ||||||
Global X S&P 500® Quality Dividend ETF | 2,102,600 | 597,792 | 145,543 | |||||||||
Global X U.S. Preferred ETF | 929,156,649 | 11,374,759 | 840,396 | |||||||||
Global X Variable Rate Preferred ETF | 27,708,541 | − | − | |||||||||
Global X MLP ETF | 101,578,116 | − | − | |||||||||
Global X MLP & Energy Infrastructure ETF | 117,708,588 | 18,283,060 | 4,975,060 | |||||||||
Global X TargetIncomeTM 5 ETF | 5,237,108 | 3,104,394 | 231,207 | |||||||||
Global X TargetIncomeTM Plus 2 ETF | 1,878,845 | 699,888 | (6,283 | ) | ||||||||
Global X Conscious Companies ETF | 60,506,837 | 66,934,989 | 25,954,688 | |||||||||
Global X Adaptive U.S. Factor ETF | 35,173,732 | 33,967,005 | 10,646,984 | |||||||||
Global X Founder-Run Companies ETF | 6,822,163 | 2,017,135 | 808,881 |
For the year ended November 30, 2020, in-kind transactions associated with creations and redemptions were:
2020 | Purchases | Sales | Realized Gain/(Loss) | |||||||||
Global X SuperDividend® Alternatives ETF | $ | 3,217,688 | $ | 5,040,683 | $ | (384,435 | ) | |||||
Global X S&P 500® Quality Dividend ETF | 8,364,729 | 11,544,814 | 1,162,033 | |||||||||
Global X U.S. Preferred ETF | 517,546,492 | 248,422,827 | 7,241,591 | |||||||||
Global X Variable Rate Preferred ETF | 2,484,728 | 1,326,703 | 81,942 | |||||||||
Global X MLP ETF | 447,418,366 | – | – | |||||||||
Global X MLP & Energy Infrastructure ETF | 261,376,336 | 136,501,476 | 15,168,807 | |||||||||
Global X TargetIncomeTM 5 ETF | 8,358,749 | 4,693,154 | 3,385 | |||||||||
Global X TargetIncomeTM Plus 2 ETF | 30,636,646 | 32,171,555 | (3,229,381 | ) | ||||||||
Global X Conscious Companies ETF | 310,608,247 | 77,589,333 | 31,368,246 | |||||||||
Global X Adaptive U.S. Factor ETF | 157,955,935 | 188,910,310 | 17,541,617 | |||||||||
Global X Founder-Run Companies ETF | 6,242,948 | 4,435,220 | (1,104,663 | ) |
111
Notes to Financial Statements (Unaudited) (Continued)
May 31, 2021
5. TAX INFORMATION
Global X MLP ETF recognizes interest and penalties, if any, related to unrecognized tax benefits within the income tax expense line in the accompanying Statement of Operations. Accrued interest and penalties, if any, are included within the related tax liability line in the Statement of Assets and Liabilities. For the period ended May 31, 2021, Global X MLP ETF did not incur any interest or penalties. Since Global X MLP ETF will be subject to taxation on its taxable income, the NAV of Global X MLP ETF shares will also be reduced by the accrual of any current and deferred tax liabilities.
Global X MLP ETF’s income tax expense/(benefit) consists of the following for the period ended May 31, 2021:
Current MLP | Deferred MLP | Total MLP | ||||||||||
Federal | $ | – | $ | 63,412,222 | $ | 63,412,222 | ||||||
State | – | 6,703,577 | 6,703,577 | |||||||||
Valuation allowance | – | (70,115,799 | ) | (70,115,799 | ) | |||||||
Total tax expense (benefit) | $ | – | $ | – | $ | – |
Deferred income taxes reflect the net tax effect of temporary differences between the carrying amount of assets and liabilities for financial reporting and tax purposes.
Components of the Global X MLP ETF’s deferred tax assets and liabilities are as follows:
For the period ended May 31, 2021:
MLP | ||||
Deferred tax assets: | ||||
Net operating loss carryforward | $ | 25,257,147 | ||
Capital loss carryforward | 47,385,015 | |||
Net unrealized loss on investment securities | – | |||
Other | 1,566,572 | |||
Less valuation allowance | (49,758,431 | ) | ||
Less deferred tax liabilities | – | |||
Net unrealized gain on investment securities | (24,450,303 | ) | ||
Net Deferred Tax Asset | $ | – |
Global X MLP ETF reviews the recoverability of its deferred tax assets based upon the weight of available evidence. When assessing the recoverability of its deferred tax assets, significant weight was given to the effects of potential future realized and unrealized gains on investments and the period over which these deferred tax assets can be realized. Currently, any capital losses that may be generated by the Global X MLP ETF are eligible to be carried back up to three years and can be carried forward for five years to offset capital gains recognized by Global X MLP ETF in those years. Prior to the passing of the CARES Act, Net Operating Losses (“NOLs”) were subject to the Tax Cuts and Jobs Act (TCJA) but are now governed under the CARES Act. Under the CARES Act,
112
Notes to Financial Statements (Unaudited) (Continued)
May 31, 2021
5. TAX INFORMATION (continued)
NOLs arising in tax years beginning after December 31, 2017, and before January 1, 2021 may be carried back five tax years and carried forward twenty years. Since the enactment of the TCJA, NOLs generally could not be carried back but could be carried forward indefinitely. Further, the TCJA limited NOL absorption to 80% of taxable income. The CARES Act temporarily removes the 80% limitation, reinstating it for tax years beginning after December 31, 2020.
Global X MLP ETF has estimated net operating loss carryforwards for federal income tax purposes as follows:
Year Ended | Amount | Expiration | ||||
Global X MLP ETF | 11/30/2019 | $ | 758,851 | Indefinite | ||
11/30/2021 | 108,014,391 | Indefinite |
Global X MLP ETF has estimated capital loss carryforwards for federal income tax purposes as follows:
Year Ended | Amount | Expiration | ||||
Global X MLP ETF | 11/30/2016 | $ | 9,483,687 | 11/30/2021 | ||
11/30/2019 | 54,795,128 | 11/30/2024 | ||||
11/30/2020 | 124,432,762 | 11/30/2025 | ||||
11/30/2021 | 15,358,253 | 11/30/2026 |
Based upon Global X MLP ETF’s assessment, it has been determined that it is not more likely than not that Global X MLP ETF’s deferred tax assets will be realized through future taxable income of the appropriate character. Accordingly, a valuation allowance has been established for Global X MLP ETF’s deferred tax assets. Global X MLP ETF will continue to assess the need for a valuation allowance in the future. Significant increases or declines in the fair value of its portfolio of investments may change Global X MLP ETF’s assessment of the recoverability of these assets and may result in the recording or removal of a valuation allowance against all or a portion of the Global X MLP ETF’s gross deferred tax assets.
Total income tax expense/(benefit) (current and deferred) during the period ended May 31, 2021, differs from the amount computed by applying the federal statutory income tax rate of 21% for Global X MLP ETF to net investment and realized and unrealized gain/(losses) on investment before taxes as follows:
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Notes to Financial Statements (Unaudited) (Continued)
May 31, 2021
5. TAX INFORMATION (continued)
For the period ended May 31, 2021:
MLP | ||||||||
Income tax (benefit) at statutory rate | $ | 61,255,089 | (21.00 | )% | ||||
State income taxes (net of federal benefit) | 6,475,538 | (2.22 | )% | |||||
Permanent differences, net | 2,385,172 | (0.82 | )% | |||||
Effect of state tax rate change | – | 0.00 | % | |||||
Other adjustments | – | 0.00 | % | |||||
Change in valuation allowance | (70,115,799 | ) | 24.04 | % | ||||
Net income tax expense/(benefit) | $ | – | 0.00 | % |
Global X MLP ETF recognizes the tax benefits of uncertain tax positions only where the position is “more likely than not” to be sustained assuming examination by tax authorities. Management has analyzed Global X MLP ETF’s tax positions, and has concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on U.S. tax returns and state tax returns filed since inception of Global X MLP ETF. No U.S. federal or state income tax returns are currently under examination. The tax years ended November 30, 2020, 2019, and 2018, remain subject to examination by tax authorities in the United States. Due to the nature of Global X MLP ETF’s investments, Global X MLP ETF may be required to file income tax returns in several states. Global X MLP ETF is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.
State franchise taxes are separate and distinct from state income taxes. State franchise taxes are imposed on a corporation for the right to conduct business in the state and typically are based off the net worth or capital apportioned to a state. Due to the nature of Global X MLP ETF’s investments, Global X MLP ETF may be required to file franchise state tax returns in several states.
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.
114
Notes to Financial Statements (Unaudited) (Continued)
May 31, 2021
5. TAX INFORMATION (continued)
The tax character of dividends and distributions declared during the years or periods ended November 30, 2020 and November 30, 2019 were as follows:
Global X Funds | Ordinary Income | Long-Term Capital Gain | Return of Capital | Totals | ||||||||||||
Global X SuperDividend® Alternatives ETF | ||||||||||||||||
2020 | $ | 1,871,599 | $ | – | $ | 218,100 | $ | 2,089,699 | ||||||||
2019 | 1,697,638 | 24,842 | – | 1,722,480 | ||||||||||||
Global X S&P 500® Quality Dividend ETF | ||||||||||||||||
2020 | $ | 208,533 | $ | – | $ | 950 | $ | 209,483 | ||||||||
2019 | 187,572 | 764 | – | 188,336 | ||||||||||||
Global X U.S. Preferred ETF | ||||||||||||||||
2020 | $ | 37,989,950 | $ | – | $ | – | $ | 37,989,950 | ||||||||
2019 | 17,959,180 | – | – | 17,959,180 | ||||||||||||
Global X Variable Rate Preferred ETF | ||||||||||||||||
2020 | $ | 49,000 | $ | – | $ | – | $ | 49,000 | ||||||||
Global X MLP ETF | ||||||||||||||||
2020 | $ | – | $ | – | $ | 95,194,445 | $ | 95,194,445 | ||||||||
2019 | – | – | 77,728,975 | 77,728,975 | ||||||||||||
Global X MLP & Energy Infrastructure ETF | ||||||||||||||||
2020 | $ | 41,140,675 | $ | – | $ | 6,129,052 | $ | 47,269,727 | ||||||||
2019 | 40,058,250 | – | 3,644,335 | 43,702,585 | ||||||||||||
Global X TargetIncomeTM 5 ETF | ||||||||||||||||
2020 | $ | 200,326 | $ | – | $ | 31,932 | $ | 232,258 | ||||||||
2019 | 106,201 | – | – | 106,201 | ||||||||||||
Global X TargetIncomeTM Plus 2 ETF | ||||||||||||||||
2020 | $ | 384,302 | $ | – | $ | 10,725 | $ | 395,027 | ||||||||
2019 | 129,966 | – | – | 129,966 | ||||||||||||
Global X Conscious Companies ETF | ||||||||||||||||
2020 | $ | 1,788,344 | $ | 89,563 | $ | – | $ | 1,877,907 | ||||||||
2019 | 1,418,777 | – | – | 1,418,777 |
115
Notes to Financial Statements (Unaudited) (Continued)
May 31, 2021
5. TAX INFORMATION (continued)
Global X Funds | Ordinary Income | Long-Term Capital Gain | Return of Capital | Totals | ||||||||||||
Global X Adaptive U.S. Factor ETF | ||||||||||||||||
2020 | $ | 4,904,671 | $ | 270,047 | $ | 635,325 | $ | 5,810,043 | ||||||||
2019 | 5,613,976 | 520,561 | – | 6,134,537 | ||||||||||||
Global X Founder-Run Companies ETF | ||||||||||||||||
2020 | $ | 13,936 | $ | – | $ | – | $ | 13,936 | ||||||||
2019 | 70,597 | 3,076 | – | 73,673 |
As of November 30, 2020, the components of tax basis distributable earnings (accumulated losses) were as follows:
Global X Funds | ||||||||||||||||
Global X SuperDividend® Alternatives ETF | Global X S&P 500® Quality Dividend ETF | Global X U.S. Preferred ETF | Global X Variable Rate Preferred ETF | |||||||||||||
Undistributed Ordinary Income | $ | – | $ | – | $ | 1,771,520 | $ | 3,941 | ||||||||
Capital Loss Carryforwards | (3,378,584 | ) | (840,623 | ) | (12,846,320 | ) | – | |||||||||
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency | (2,262,033 | ) | 405,294 | 23,906,150 | 97,649 | |||||||||||
Other Temporary Differences | (6,401 | ) | (1 | ) | (1,016,908 | ) | 5,858 | |||||||||
Total Distributable Earnings (Accumulated Losses) | $ | (5,647,018 | ) | $ | (435,330 | ) | $ | 11,814,442 | $ | 107,448 |
Global X Funds | ||||||||||||
Global X MLP & Energy Infrastructure ETF | Global X TargetIncomeTM 5 ETF | Global X TargetIncomeTM Plus 2 ETF | ||||||||||
Capital Loss Carryforwards | $ | (147,418,883 | ) | $ | (227,414 | ) | $ | (214,016 | ) | |||
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency | (181,351,039 | ) | (85,954 | ) | 64,026 | |||||||
Other Temporary Differences | (5 | ) | – | 1 | ||||||||
Total Accumulated Losses | $ | (328,769,927 | ) | $ | (313,368 | ) | $ | (149,989 | ) |
116
Notes to Financial Statements (Unaudited) (Continued)
May 31, 2021
5. TAX INFORMATION (continued)
Global X Funds | ||||||||||||
Global X Conscious Companies ETF | Global X Adaptive U.S. Factor ETF | Global X Founder-Run Companies ETF | ||||||||||
Undistributed Ordinary Income | $ | 2,055,988 | $ | – | $ | 17,871 | ||||||
Capital Loss Carryforwards | (3,105,676 | ) | (25,615,402 | ) | (93,685 | ) | ||||||
Unrealized Appreciation on Investments and Foreign Currency | 66,022,197 | 4,102,064 | 1,096,883 | |||||||||
Other Temporary Differences | (1 | ) | 2 | (1 | ) | |||||||
Total Distributable Earnings (Accumulated Losses) | $ | 64,972,508 | $ | (21,513,336 | ) | $ | 1,021,068 |
For taxable years beginning after December 22, 2010, a registered investment company 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 SuperDividend® Alternatives ETF | $ | 1,529,102 | $ | 1,849,482 | $ | 3,378,584 | ||||||
Global X S&P 500® Quality Dividend ETF | $ | 712,760 | $ | 127,863 | $ | 840,623 | ||||||
Global X U.S. Preferred ETF | $ | 9,636,726 | $ | 3,209,593 | $ | 12,846,319 | ||||||
Global X MLP ETF | $ | 9,483,687 | $ | 177,685,119 | $ | 187,168,806 | ||||||
Global X MLP & Energy Infrastructure ETF | $ | 37,542,091 | $ | 109,876,792 | $ | 147,418,883 | ||||||
Global X TargetIncomeTM 5 ETF | $ | 225,711 | $ | 1,703 | $ | 227,414 | ||||||
Global X TargetIncomeTM Plus 2 ETF | $ | 189,882 | $ | 24,134 | $ | 214,016 | ||||||
Global X Conscious Companies ETF | $ | 1,834,857 | $ | 1,270,819 | $ | 3,105,676 | ||||||
Global X Adaptive U.S.Factor ETF | $ | 17,888,392 | $ | 7,727,010 | $ | 25,615,402 | ||||||
Global X Founder-Run Companies ETF | $ | – | $ | 93,685 | $ | 93,685 |
During the year ended November 30, 2020 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 Founder-Run Companies ETF | $ | 24,238 | $ | – | $ | 24,238 |
117
Notes to Financial Statements (Unaudited) (Continued)
May 31, 2021
5. TAX INFORMATION (continued)
The adjusted cost basis of investments and aggregate gross unrealized appreciation and depreciation on investments held by the Funds at May 31, 2021 for federal income tax purposes, were as follows:
Global X Funds | Federal Tax Cost | Aggregated Gross Unrealized Appreciation | Aggregated Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | ||||||||||||
Global X SuperDividend® Alternatives ETF | $ | 29,782,383 | $ | 4,054,758 | $ | (1,304,100 | ) | $ | 2,750,658 | |||||||
Global X S&P 500® Quality Dividend ETF | 7,660,449 | 1,807,750 | (46,187 | ) | 1,761,563 | |||||||||||
Global X U.S. Preferred ETF | 1,770,152,453 | 57,959,275 | (9,123,888 | ) | 48,835,387 | |||||||||||
Global X Variable Rate Preferred ETF | 28,862,307 | 550,344 | (18,132 | ) | 532,212 | |||||||||||
Global X MLP ETF | 691,667,540 | 269,671,332 | – | 269,671,332 | ||||||||||||
Global X MLP & Energy Infrastructure ETF | 712,326,097 | 128,856,321 | (14,184,734 | ) | 114,671,587 | |||||||||||
Global X TargetIncomeTM 5 ETF | 6,908,262 | 205,905 | (29,202 | ) | 176,703 | |||||||||||
Global X TargetIncomeTM Plus 2 ETF | 5,961,493 | 58,855 | (103,831 | ) | (44,976 | ) | ||||||||||
Global X Conscious Companies ETF | 355,092,252 | 103,537,936 | (835,799 | ) | 102,702,137 | |||||||||||
Global X Adaptive U.S. Factor ETF | 153,433,827 | 25,335,403 | (1,448,361 | ) | 23,887,042 | |||||||||||
Global X Adaptive U.S. Risk Management ETF | 67,091,065 | 6,346,985 | (1,273,876 | ) | 5,073,109 | |||||||||||
Global X Founder-Run Companies ETF | 9,931,117 | 1,772,963 | (130,342 | ) | 1,642,621 |
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 partnership adjustments, differing cost relief methodologies, preferred stock adjustments, MLP adjustments, and wash sales adjustments investments in MLPs.
6. CONCENTRATION OF RISKS
The Funds may invest in securities in a particular asset class. Securities and other assets held in each Fund’s portfolio may underperform in comparison to the general securities markets, a particular securities market or other asset classes. The Funds, except for Global X U.S. Preferred ETF, Global X Variable Rate Preferred ETF, Global X TargetIncomeTM 5 ETF and Global X TargetIncomeTM Plus 2 ETF, use a replication strategy. A replication strategy is an indexing strategy that involves investing in the securities of an underlying index in approximately the same proportions as in the underlying index. These Funds may utilize a representative sampling strategy with respect to their underlying index when a replication strategy might be detrimental to its shareholders, such as when there are practical difficulties or substantial costs involved in compiling a portfolio of equity securities to follow 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 the underlying index). The Global X U.S. Preferred ETF, Global X Variable Rate Preferred ETF, Global X TargetIncomeTM 5 ETF and Global X TargetIncomeTM Plus 2 ETF use a representative sampling strategy. Representative sampling is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to the Fund’s underlying
118
Notes to Financial Statements (Unaudited) (Continued)
May 31, 2021
6. CONCENTRATION OF RISKS (continued)
index in terms of key risk factors, performance attributes and other characteristics. A more complete description of risks is included in each Fund’s prospectus and statement of additional information.
The Funds may be subject to taxes imposed by countries in which they invest. Such taxes are generally based on either income or gains earned or repatriated. The Funds accrue and apply such taxes to net investment income, net realized gains and net unrealized gains as income and/or capital gains are earned.
The London Interbank Offered Rate, or “LIBOR,” the offered rate for short-term Eurodollar deposits between major international banks, is used extensively in the United States and globally as a reference rate in various financing and commercial transactions. Plans are underway to phase out the use of LIBOR by the end of 2021. There remains uncertainty regarding the nature of any replacement rate and the impact of the transition from LIBOR on the financial markets generally, transactions that use LIBOR as a reference rate and financial institutions that engage in such transactions, including issuers of securities in which a Fund may invest. As such, the potential effect of a transition away from LIBOR on a Fund’s investments cannot yet be determined.
Economic conditions, such as volatile currency exchange rates and interest rates, political events, military action and other conditions may, without prior warning, lead to foreign government intervention (including intervention by the U.S. government with respect to foreign governments, economic sectors, foreign companies and related securities and interests) and the imposition of capital controls (i.e., government measures designed to limit the flow of foreign capital in and out of the domestic economy) and/or sanctions, which may also include retaliatory actions of one government against another government, such as seizure of assets. Capital controls and/or sanctions include the prohibition of, or restrictions on, the ability to transfer currency, securities or other assets. Capital controls and/or sanctions may also impact the ability of a Fund to buy, sell or otherwise transfer securities or currency, negatively impact the value and/or liquidity of such instruments, adversely affect the trading market and price for shares of a Fund, and cause a Fund to decline in value.
7. LOANS OF PORTFOLIO SECURITIES
The Funds may lend portfolio securities having a market value up to one-third of the Funds’ total assets. Security loans made pursuant to a securities lending agreement with BBH are required at all times to be secured by collateral equal to at least 102% for U.S.-based securities and 105% for foreign-based securities. Such collateral received in connection with these loans will be cash and can be invested in repurchase agreements, short-term investments or U.S. Treasury obligations and is recognized in the Schedule of Investments and Statement of Assets and Liabilities. The obligation to return securities lending collateral is also recognized as a liability in the Statement of Assets and Liabilities. It is the Funds’ policy to obtain additional collateral from or return excess
119
Notes to Financial Statements (Unaudited) (Continued)
May 31, 2021
7. LOANS OF PORTFOLIO SECURITIES (continued)
collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan.
Lending securities entails a risk of loss to the Funds if and to the extent that the market values of the securities loaned were to increase and the borrower did not increase the collateral accordingly and the borrower failed to return the securities. The Funds could also experience delays and costs 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.
As of May 31, 2021, the value of securities on loan was $3,246,286, $16,943,491, and $11,703,072 for the Global X SuperDividend® Alternatives ETF, Global X U.S. Preferred ETF, and Global X MLP & Energy Infrastructure ETF, respectively, and the cash collateral received from securities on loan was $3,327,587, $17,264,840 and $12,039,810 for the Global X SuperDividend® Alternatives ETF, Global X U.S. Preferred ETF, and Global X MLP & Energy Infrastructure ETF, respectively.
As of May 31, 2021, the following Funds had securities on loan, by counterparty:
Market Value | Cash Collateral | |||||||
Global X SuperDividend® Alternatives ETF | ||||||||
BOFA Securities, Inc. | $ | 1,055,822 | $ | 1,095,425 | ||||
Citigroup | 550,246 | 560,282 | ||||||
Credit Suisse | 71,165 | 72,175 | (1) | |||||
JPMorgan | 1,401,800 | 1,429,300 | ||||||
Morgan Stanley | 167,253 | 170,405 | ||||||
Global X U.S. Preferred ETF | ||||||||
BMO Capital Markets Corp. | 30,716 | 31,475 | ||||||
BOFA Securities, Inc. | 602,221 | 612,850 | ||||||
JPMorgan | 8,162,423 | 8,313,800 | ||||||
National Financial Services | 4,547,840 | 4,638,890 | ||||||
TD Prime Services, LLC | 2,271,042 | 2,312,350 | ||||||
Wells Fargo Securities, LLC | 1,329,249 | 1,355,475 | ||||||
Global X MLP & Energy Infrastructure ETF | ||||||||
BNP Prime Brokerage | 3,232 | 3,310 | ||||||
JPMorgan | 11,699,840 | 12,036,500 |
(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. |
120
Notes to Financial Statements (Unaudited) (Continued)
May 31, 2021
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. REVERSE SHARE SPLIT
Effective April 28, 2020, the Global X MLP ETF executed a 1-for-6 reverse share split for shareholders of record after the close of markets on April 27, 2020. The effect of this transaction for the Fund was to divide the number of outstanding Shares of the Fund by six, resulting in a corresponding increase in the NAV per Share. The capital share activity presented in the statement of changes in net assets for each of the years in the period then ended, and per share data in the financial highlights for each of the years in the period then ended, have been given retroactive effect to reflect these reverse share splits. There were no changes in net assets, results of operations or total return as a result of these transactions.
Effective April 28, 2020, the Global X MLP & Energy Infrastructure ETF executed a 1-for-3 reverse share split for shareholders of record after the close of markets on April 27, 2020. The effect of this transaction for the Fund was to divide the number of outstanding Shares of the Fund by three, resulting in a corresponding increase in the NAV per Share. The capital share activity presented in the statement of changes in net assets for each of the years in the period then ended, and per share data in the financial highlights for each of the years in the period then ended, have been given retroactive effect to reflect these reverse share splits. There were no changes in net assets, results of operations or total return as a result of these transactions.
10. SUBSEQUENT EVENTS
The Funds have been evaluated regarding the need for additional disclosures and/or adjustments resulting from subsequent events. Based on this evaluation, no additional adjustments were required to the financial statements.
121
Notes to Financial Statements (Unaudited) (Concluded)
May 31, 2021
11. OTHER MATTER
The rapid and global spread of a highly contagious novel coronavirus respiratory disease, designated COVID-19, has resulted in extreme volatility in the financial markets and severe losses; reduced liquidity of many instruments; restrictions on international and, in some cases, local travel; significant disruptions to business operations (including business closures); strained healthcare systems; disruptions to supply chains, consumer demand and employee availability; and widespread uncertainty regarding the duration and long term effects of this pandemic. Some sectors of the economy and individual issuers have experienced particularly large losses. In addition, the COVID-19 pandemic may result in a sustained economic downturn or a global recession, domestic and foreign political and social instability, damage to diplomatic and international trade relations and increased volatility and/or decreased liquidity in the securities markets. The COVID-19 pandemic could adversely affect the value and liquidity of the Funds’ investments and negatively impact Fund performance. In addition, the outbreak of COVID-19, and measures taken to mitigate its effects, could result in disruptions to the services provided to the Funds by their service providers.
122
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 any brokerage fees as a result of his or her investment in the Fund. Shareholders may incur brokerage commissions on their purchases and sales of Fund shares, which are not reflected in the examples below.
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 six-month period shown and held for the entire period (December 1, 2020 to May 31, 2021).
The table below 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 Fund, to estimate the expenses you paid over that period. Simply divide your actual account value by $1,000 to arrive at a ratio (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply that ratio by the number shown for your Fund under “Expenses Paid During Period.”
Hypothetical 5% Return. This section helps you compare your Fund’s costs with those of other funds. It assumes that the Fund had an annual 5% return before expenses during the year, but that the expense ratio (Column 3) for the period is unchanged. This example is useful in making comparisons because the 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.
123
Disclosure of Fund Expenses (unaudited)
Beginning Account Value 12/1/2020 | Ending Account Value 5/31/2021 | Annualized Expense Ratios | Expenses Paid During Period(1) | |||||||||||||
Global X SuperDividend® Alternatives ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,214.70 | 0.75 | % | $ | 4.14 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,021.19 | 0.75 | 3.78 | ||||||||||||
Global X S&P 500® Quality Dividend ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,268.60 | 0.20 | % | $ | 1.13 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,023.93 | 0.20 | 1.01 | ||||||||||||
Global X U.S. Preferred ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,041.70 | 0.23 | % | $ | 1.17 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,023.79 | 0.23 | 1.16 | ||||||||||||
Global X Variable Rate Preferred ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,064.00 | 0.25 | % | $ | 1.29 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,023.68 | 0.25 | 1.26 | ||||||||||||
Global X MLP ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,451.80 | 0.45 | % | $ | 2.75 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,022.69 | 0.45 | 2.27 | ||||||||||||
Global X MLP & Energy Infrastructure ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,358.20 | 0.45 | % | $ | 2.65 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,022.69 | 0.45 | 2.27 | ||||||||||||
Global X TargetIncomeTM 5 ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,077.60 | 0.39 | % | $ | 2.02 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,022.99 | 0.39 | 1.97 | ||||||||||||
Global X TargetIncomeTM Plus 2 ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 989.80 | 0.39 | % | $ | 1.93 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,022.99 | 0.39 | 1.97 | ||||||||||||
Global X Conscious Companies ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,166.70 | 0.43 | % | $ | 2.32 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,022.79 | 0.43 | 2.17 | ||||||||||||
Global X Adaptive U.S. Factor ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,231.10 | 0.27 | % | $ | 1.50 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,023.59 | 0.27 | 1.36 | ||||||||||||
Global X Adaptive U.S. Risk Management ETF* | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,098.20 | 0.39 | % | $ | 1.56 | (2) | |||||||
Hypothetical 5% Return | 1,000.00 | 1,022.99 | 0.39 | 1.97 |
124
Disclosure of Fund Expenses (unaudited)
Beginning Account Value 12/1/2020 | Ending Account Value 5/31/2021 | Annualized Expense Ratios | Expenses Paid During Period(1) | |||||||||||||
Global X Founder-Run Companies ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,168.20 | 0.45 | % | $ | 2.43 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,022.69 | 0.45 | 2.27 |
(1) | Expenses are equal to the Fund’s annualized expense ratio multiplied by the average account value over the period, multiplied by 182/365 (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 139/365 (to reflect the period from inception to date). |
* | The Fund commenced operations on January 12, 2021. |
125
Pursuant to Rule 22e-4 under the 1940 Act, the Funds’ investment adviser has adopted, and the Board has approved, a liquidity risk management program (the “Program”) to govern the Funds’ approach to managing liquidity risk. The Program is overseen by the Funds’ Liquidity Risk Management Committee (the “Committee”), and the Program’s principal objectives include assessing, managing and periodically reviewing each Fund’s liquidity risk, based on factors specific to the circumstances of the Funds.
At a meeting of the Board held on May 21, 2021, the Trustees received a report from the Committee addressing the operations of the Program and assessing its adequacy and effectiveness of implementation for the period from January 1, 2020 through December 31, 2020. The Committee’s report noted that the Committee had determined that the Program is reasonably designed to assess and manage each Fund’s Liquidity Risk and operated adequately and effectively to manage each Fund’s Liquidity Risk for the period covered by the report. The Committee’s report noted that during the period covered by the report, there were no liquidity events that impacted the Funds or their ability to timely meet redemptions without dilution to existing shareholders. The Committee’s report further noted that no material changes have been made to the Program since its implementation.
There can be no assurance that the Program will achieve its objectives in the future. Please refer to the prospectus for more information regarding a Fund’s exposure to liquidity risk and other principal risks to which an investment in the Funds may be subject.
126
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 November 11, 20201 (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 (the “New Investment Advisory Agreement”) for the Global X Adaptive U.S. Risk Management ETF (the “New Fund”) and (ii) the initial Supervision and Administration Agreement between the Trust (the “New Supervision and Administration Agreement”), on behalf of the New Fund, and Global X Management. The New Advisory Agreement and New Supervision and Administration Agreement are referred to collectively as the “New Fund Agreements.”
In advance of the Board meeting, the Board (including the Trust’s Independent Trustees) and the Independent Trustees’ independent legal counsel requested (in writing) detailed information from Global X Management in connection with the Board’s consideration of the New Fund Agreements and received and reviewed written responses from Global X Management and supporting materials relating to those requests for information. In the course of their consideration of the New Fund Agreements, the Trust’s Independent Trustees were advised by their independent legal counsel and, in addition to meetings with management of Global X Management, the Independent Trustees met separately in executive sessions with their counsel.
NEW FUND AGREEMENTS
In determining to approve the New Fund Agreements for the New Fund, the Board considered a variety of factors, including the factors discussed in greater detail below.
Nature, Extent and Quality of Services
With respect to this factor, the Board considered:
• the terms of the New Fund Agreements and the range of services proposed to be provided to the New Fund in accordance with the New Fund Agreements;
1 | This meeting was held via videoconference in reliance on an exemptive order issued by the Securities and Exchange Commission on March 25, 2020. Reliance on the exemptive order is necessary and appropriate due to circumstances related to current or potential effects of COVID-19. All Trustees participating in the telephonic meeting were able to hear each other simultaneously during the meeting. Reliance on the exemptive order requires Trustees, including a majority of the Independent Trustees, to ratify actions taken pursuant to the exemptive order by vote cast at the next in-person meeting. |
127
Approval of Investment Advisory Agreement (unaudited)
• Global X Management’s key personnel and the portfolio managers who would provide investment advisory, supervision and administrative services to the New Fund;
• Global X Management’s responsibilities under the New Fund Agreements to, among other things, (i) manage the investment operations of the New Fund and the composition of the New Fund’s assets, including the purchase, retention and disposition of its holdings, (ii) provide quarterly reports to the Trust’s officers and the Board and other reports as the Board deems necessary or appropriate, (iii) vote proxies, exercise consents, and exercise all other rights appertaining to securities and assets held by the New Fund, (iv) select broker-dealers to execute portfolio transactions for the New Fund when necessary, (v) assist in the preparation and filing of reports and proxy statements (if any) to the shareholders of the New Fund, and the periodic updating of the registration statements, prospectuses, statements of additional information, and other reports and documents for the New Fund that are required to be filed by the Trust with the U.S. Securities and Exchange Commission (“SEC”) and other regulatory or governmental bodies, and (vi) monitor anticipated purchases and redemptions of the shares (including Creation Units) of the New Fund by shareholders and new investors;
• the nature, extent and quality of all of the services (including advisory, administrative and compliance services) that are proposed to be provided by Global X Management or made available to the New Fund; and
• the quality of Global X Management’s resources and personnel that would be made available to the New Fund, including Global X Management’s experience and the professional qualifications of Global X Management’s key personnel.
Based on these considerations, the Board concluded, at the New Fund Board Meeting, that it was satisfied with the nature, extent and quality of the services proposed to be provided to the New Fund by Global X Management.
Performance
The Board determined that, because the New Fund had not yet begun investment operations as of the dates of the New Fund Board Meeting, meaningful data relating to the investment performance of the New Fund was not available and, therefore, could not be a factor in approving the New Fund Agreements.
Cost of Services and Profitability
With respect to this factor, the Board considered:
• Global X Management’s expected costs to provide investment management, supervision and administrative and related services to the New Fund;
• The management fee (including the proposed investment advisory fee) (“Management Fee”) that was proposed to be borne by the New Fund under the New Fund Agreement for the various investment advisory, supervisory and administrative services that the New Fund requires under a unitary fee structure (including the types of fees and expenses that are not included within the unitary fee and would be borne by the New Fund); and
128
Approval of Investment Advisory Agreement (unaudited)
• the expected profitability to Global X Management, if any, from all of the services proposed to be provided to the New Fund by Global X Management and all aspects of the relationship between Global X Management and the New Fund.
Based on these considerations, the Board concluded that the proposed Management Fee to be paid by the New Fund to Global X Management, in light of the nature, extent and quality of the services to be provided, was reasonable and in the best interests of the New Fund’s shareholders.
Comparison of Fees and Services
With respect to this factor, the Board considered:
• comparative information with respect to the proposed Management Fee to be paid to Global X Management by the New Fund. In connection with this consideration, Global X Management provided the Board with comparative expense data for the New Fund, including fees and expenses paid by unaffiliated similar specialized and/or focused ETFs, and/or other similar registered funds. The Board considered Global X Management’s detailed explanation of the proposed fee structure of the 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 Fund) and the expected total expense ratio for the New Fund. In this regard, the Board took into consideration that the purpose of adopting a unitary Management Fee structure for the New Fund was to create a simple, all-inclusive fee that would provide a level of predictability with respect to the overall expense ratio (i.e., the total fee) of the New Fund and that the proposed Management Fee for the New Fund was set at a competitive level to make the New Fund viable in the marketplace; and
• that, under the proposed unified Management Fee structure, Global X Management would be responsible for most ordinary expenses of the New Fund, including the costs of various third-party services required by the New Fund, including investment advisory, administrative, audit, certain custody, portfolio accounting, legal, transfer agency and printing costs, but that the New Fund would bear other expenses not covered under the proposed all-inclusive Management Fee, such as taxes, brokerage fees, commissions, and other transaction expenses, interest expenses, and extraordinary expenses.
Based on these considerations, the Board concluded, at the New Fund Board Meeting, that the services to be received and the fees to be charged under the New Fund Agreements were reasonable on a comparative basis.
Economies of Scale
With respect to this factor, the Board considered:
• the extent to which economies of scale would be realized as the New Fund grows and whether the proposed unitary Management Fee for the New Fund reflected these economies of scale;
129
Approval of Investment Advisory Agreement (unaudited)
• the significant investment of time, personnel and other resources that Global X Management intends to make in the New Fund in order to seek to assure that the New Fund is attractive to investors; and
• that the proposed unitary Management Fee would provide a high level of certainty as to the total level of expenses for the New Fund and its shareholders.
Based on these considerations, the Board concluded, at the New Fund Board Meeting, that the proposed unitary Management Fee for the New Fund appropriately addressed economies of scale.
Other Benefits
In considering 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 Fund. As a result, the Board concluded that, in the case of the New Fund, in the exercise of the Board’s business judgement, all information the Board considered supported approval of the New Fund Agreements.
Conclusion
After full consideration of the factors above, as well as other factors that were instructive in their consideration, the Board, including all of the Trust’s Independent Trustees voting separately, concluded, in the exercise of its business judgement, that the New Fund Agreements were fair and reasonable and in the best interest of the New Fund.
In reaching this decision, the Board did not assign relative weights to the factors above nor did the Board deem any one factor or group of them to be controlling in and of themselves. Each member of the Board may have assigned different weights to the various factors.
130
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 their NAV, as well as market supply and demand.
Premiums or discounts are the differences (expressed as a percentage) between the NAV and Market Price of 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.
131
NOTES
132
605 3rd Avenue, 43rd Floor
New York, NY 10158
1-888-493-8631
www.globalxetfs.com
Investment Adviser and Administrator:
Global X Management Company LLC
605 3rd Avenue, 43rd Floor
New York, NY 10158
Distributor:
SEI Investments Distribution Co.
One Freedom Valley Drive
Oaks, PA 19456
Sub-Administrator:
SEI Investments Global Funds Services
One Freedom Valley Drive
Oaks, PA 19456
Counsel for Global X Funds and the Independent Trustees:
Stradley Ronon Stevens & Young, LLP
2000 K Street, N.W.
Suite 700
Washington, DC 20006-1871
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-SA-005-0900
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 Clean Water ETF (ticker: AQWA) |
Global X Thematic Growth ETF (ticker: GXTG) |
Semi-Annual Report
May 31, 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 |
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
May 31, 2021 (Unaudited) | ||
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 Notes 2 and 7 in Notes to Financial Statements for more detailed information.
Shares | Value | |||||||
COMMON STOCK — 99.8% | ||||||||
CANADA — 2.0% | ||||||||
Industrials — 2.0% | ||||||||
ATS Automation Tooling Systems * | 2,085,316 | $ | 51,235,247 | |||||
FINLAND — 2.8% | ||||||||
Industrials — 2.8% | ||||||||
Cargotec, Cl B | 1,237,532 | 70,249,222 | ||||||
JAPAN — 37.5% | ||||||||
Communication Services — 0.3% | ||||||||
RPA Holdings * | 1,290,350 | 8,553,445 | ||||||
Health Care — 0.6% | ||||||||
CYBERDYNE * (A) | 3,056,344 | 15,062,864 | ||||||
Industrials — 24.6% | ||||||||
Daifuku | 926,193 | 80,176,016 | ||||||
FANUC | 770,901 | 185,829,374 | ||||||
Hirata | 237,882 | 14,232,903 | ||||||
Idec | 735,715 | 13,901,485 | ||||||
Mitsubishi Electric | 6,018,527 | 94,211,359 | ||||||
Nachi-Fujikoshi | 556,715 | 21,489,022 |
1
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Robotics & Artificial Intelligence ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Industrials — continued | ||||||||
Shibaura Machine | 673,697 | $ | 15,627,198 | |||||
SMC | 150,811 | 90,959,706 | ||||||
Yaskawa Electric (A) | 2,262,024 | 107,779,093 | ||||||
624,206,156 | ||||||||
Information Technology — 12.0% | ||||||||
AI inside * (A) | 83,368 | 13,076,590 | ||||||
Autonomous Control Systems Laboratory * (A) | 230,025 | 5,237,396 | ||||||
Keyence | 335,157 | 166,336,613 | ||||||
Neural Pocket * (A) | 276,480 | 12,796,392 | ||||||
Omron (A) | 1,183,689 | 94,070,851 | ||||||
PKSHA Technology * (A) | 684,417 | 15,502,457 | ||||||
307,020,299 | ||||||||
TOTAL JAPAN | 954,842,764 | |||||||
SWITZERLAND — 13.1% | ||||||||
Health Care — 4.4% | ||||||||
Tecan Group | 223,174 | 111,779,167 | ||||||
Industrials — 8.7% | ||||||||
ABB | 6,407,082 | 218,398,173 | ||||||
TOTAL SWITZERLAND | 330,177,340 | |||||||
UNITED KINGDOM — 5.0% | ||||||||
Information Technology — 5.0% | ||||||||
Renishaw | 1,614,749 | 126,722,848 | ||||||
UNITED STATES — 39.4% | ||||||||
Consumer Discretionary — 2.4% | ||||||||
iRobot * (A) | 627,372 | 61,294,244 | ||||||
Energy — 0.7% | ||||||||
Helix Energy Solutions Group * | 3,383,191 | 17,694,089 | ||||||
Health Care — 7.9% | ||||||||
Intuitive Surgical * | 237,361 | 199,900,687 |
2
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Robotics & Artificial Intelligence ETF |
Shares/Face Amount | Value | |||||||
COMMON STOCK — continued | ||||||||
Industrials — 8.0% | ||||||||
AeroVironment * | 539,676 | $ | 59,164,679 | |||||
John Bean Technologies | 710,890 | 102,389,487 | ||||||
Maxar Technologies (A) | 1,345,772 | 41,932,830 | ||||||
203,486,996 | ||||||||
Information Technology — 20.4% | ||||||||
Brooks Automation | 1,657,822 | 169,247,048 | ||||||
Cerence * | 818,142 | 77,829,849 | ||||||
FARO Technologies * | 400,723 | 30,314,695 | ||||||
NVIDIA | 366,819 | 238,351,650 | ||||||
515,743,242 | ||||||||
TOTAL UNITED STATES | 998,119,258 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $2,001,417,939) | 2,531,346,679 | |||||||
SHORT-TERM INVESTMENT(B)(C) — 3.3% | ||||||||
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010% | ||||||||
(Cost $84,311,201) | 84,311,201 | 84,311,201 | ||||||
REPURCHASE AGREEMENT(B) — 3.2% | ||||||||
BNP Paribas | ||||||||
0.000%, dated 05/28/2021, to be repurchased on 06/01/2021, repurchase price $80,889,413 (collateralized by U.S. Treasury Obligations, ranging in par value $1,604,820 - $11,667,482, 2.000%, 10/31/2022, with a total market value of $82,467,564) | ||||||||
(Cost $80,889,413) | $ | 80,889,413 | 80,889,413 | |||||
TOTAL INVESTMENTS — 106.3% | ||||||||
(Cost $2,166,618,553) | $ | 2,696,547,293 |
3
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Robotics & Artificial Intelligence ETF |
Percentages are based on Net Assets of $2,536,449,225.
* | Non-income producing security. |
(A) | This security or a partial position of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $156,929,711. |
(B) | Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2021 was $165,200,614. |
(C) | The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2021. |
Cl — Class
The following is a summary of the level of inputs used as of May 31, 2021, in valuing the Fund’s investments carried at value:
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | 2,531,346,679 | $ | — | $ | — | $ | 2,531,346,679 | ||||||||
Short-Term Investment | 84,311,201 | — | — | 84,311,201 | ||||||||||||
Repurchase Agreement | — | 80,889,413 | — | 80,889,413 | ||||||||||||
Total Investments in Securities | $ | 2,615,657,880 | $ | 80,889,413 | $ | — | $ | 2,696,547,293 |
For the period ended May 31, 2021, there were no transfers in or out of Level 3.
4
Schedule of Investments | May 31, 2021 (Unaudited) | |
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 Notes 2 and 7 in Notes to Financial Statements for more detailed information.
Shares | Value | |||||||
COMMON STOCK — 99.8% | ||||||||
AUSTRIA — 4.2% | ||||||||
Information Technology — 4.2% | ||||||||
AMS * | 713,611 | $ | 14,049,427 | |||||
S&T (A) | 171,113 | 4,293,875 | ||||||
TOTAL AUSTRIA | 18,343,302 | |||||||
CANADA — 0.4% | ||||||||
Information Technology — 0.4% | ||||||||
Sierra Wireless * | 104,481 | 1,625,724 | ||||||
CHINA — 2.6% | ||||||||
Information Technology — 2.6% | ||||||||
NXP Semiconductors | 54,390 | 11,499,134 | ||||||
FRANCE — 1.5% | ||||||||
Industrials — 1.5% | ||||||||
Legrand (A) | 61,454 | 6,440,947 | ||||||
ITALY — 0.9% | ||||||||
Information Technology — 0.9% | ||||||||
Datalogic | 149,893 | 3,907,458 |
5
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Internet of Things ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
JAPAN — 1.4% | ||||||||
Information Technology — 1.4% | ||||||||
Nippon Ceramic | 70,382 | $ | 1,786,189 | |||||
Renesas Electronics * | 394,336 | 4,227,526 | ||||||
TOTAL JAPAN | 6,013,715 | |||||||
NORWAY — 3.0% | ||||||||
Information Technology — 3.0% | ||||||||
Nordic Semiconductor * | 467,361 | 13,021,248 | ||||||
SWEDEN — 0.5% | ||||||||
Information Technology — 0.5% | ||||||||
Fingerprint Cards, Cl B * | 513,707 | 2,129,694 | ||||||
SWITZERLAND — 9.8% | ||||||||
Industrials — 2.3% | ||||||||
ABB | 291,825 | 9,947,437 | ||||||
Information Technology — 7.5% | ||||||||
Landis+Gyr Group | 75,950 | 5,535,604 | ||||||
STMicroelectronics | 718,034 | 26,817,378 | ||||||
32,352,982 | ||||||||
TOTAL SWITZERLAND | 42,300,419 | |||||||
TAIWAN — 9.5% | ||||||||
Information Technology — 9.5% | ||||||||
Advantech | 2,006,521 | 23,616,341 | ||||||
eMemory Technology | 200,182 | 6,768,830 | ||||||
MediaTek | 330,480 | 11,448,650 | ||||||
TOTAL TAIWAN | 41,833,821 |
6
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Internet of Things ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
UNITED KINGDOM — 0.2% | ||||||||
Information Technology — 0.2% | ||||||||
Spirent Communications | 306,165 | $ | 1,083,509 | |||||
UNITED STATES — 65.8% | ||||||||
Consumer Discretionary — 7.8% | ||||||||
Garmin | 196,001 | 27,879,182 | ||||||
Vivint Smart Home * | 462,393 | 6,431,887 | ||||||
34,311,069 | ||||||||
Health Care — 4.0% | ||||||||
DexCom * | 47,018 | 17,367,979 | ||||||
Industrials — 22.1% | ||||||||
ADT | 1,978,281 | 20,455,426 | ||||||
Emerson Electric | 103,616 | 9,915,015 | ||||||
Honeywell International | 43,939 | 10,145,954 | ||||||
Johnson Controls International | 182,340 | 12,132,904 | ||||||
Resideo Technologies * | 81,358 | 2,432,604 | ||||||
Rockwell Automation | 30,230 | 7,972,256 | ||||||
Schneider Electric | 59,090 | 9,402,056 | ||||||
Sensata Technologies Holding * | 409,005 | 24,307,167 | ||||||
96,763,382 | ||||||||
Information Technology — 31.9% | ||||||||
Alarm.com Holdings * | 126,838 | 10,385,496 | ||||||
Ambarella * | 89,335 | 8,967,447 | ||||||
Analog Devices | 52,829 | 8,695,653 | ||||||
Badger Meter | 75,686 | 7,233,311 | ||||||
Belden | 115,639 | 5,851,333 | ||||||
Cisco Systems | 140,909 | 7,454,087 | ||||||
Digi International * | 87,924 | 1,667,039 | ||||||
Impinj * | 58,836 | 3,062,414 | ||||||
InterDigital | 79,840 | 6,449,475 | ||||||
International Business Machines | 52,575 | 7,557,130 |
7
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Internet of Things ETF |
Shares/Face Amount | Value | |||||||
COMMON STOCK — continued | ||||||||
Information Technology — continued | ||||||||
Itron * | 104,582 | $ | 9,971,894 | |||||
NETGEAR * | 76,599 | 2,978,169 | ||||||
PTC * | 26,582 | 3,565,709 | ||||||
QUALCOMM | 71,461 | 9,614,363 | ||||||
Rambus * | 294,341 | 5,757,310 | ||||||
Silicon Laboratories * | 113,661 | 15,521,546 | ||||||
Skyworks Solutions | 149,871 | 25,478,070 | ||||||
140,210,446 | ||||||||
TOTAL UNITED STATES | 288,652,876 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $331,889,217) | 436,851,847 | |||||||
SHORT-TERM INVESTMENT(B)(C) — 1.0% | ||||||||
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010% | ||||||||
(Cost $4,357,766) | 4,357,766 | 4,357,766 | ||||||
REPURCHASE AGREEMENT(B) — 1.0% | ||||||||
BNP Paribas | ||||||||
0.000%, dated 05/28/2021, to be repurchased on 06/01/21, repurchase price $4,180,906 (collateralized by U.S. Treasury Obligations, ranging in par value $82,948 - $603,053, 2.000%, 10/31/2022, with a total market value of $4,262,472) | ||||||||
(Cost $4,180,906) | $ | 4,180,906 | 4,180,906 | |||||
TOTAL INVESTMENTS — 101.8% | ||||||||
(Cost $340,427,889) | $ | 445,390,519 |
Percentages are based on Net Assets of $437,492,500.
8
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Internet of Things ETF |
* | Non-income producing security. |
(A) | This security or a partial position of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $8,025,312. |
(B) | Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2021 was $8,538,672. |
(C) | The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2021. |
Cl — Class
The following is a summary of the level of inputs used as of May 31, 2021, in valuing the Fund’s investments carried at value:
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | 436,851,847 | $ | — | $ | — | $ | 436,851,847 | ||||||||
Short-Term Investment | 4,357,766 | — | — | 4,357,766 | ||||||||||||
Repurchase Agreement | — | 4,180,906 | — | 4,180,906 | ||||||||||||
Total Investments in Securities | $ | 441,209,613 | $ | 4,180,906 | $ | — | $ | 445,390,519 |
For the period ended May 31, 2021, there were no transfers in or out of Level 3.
9
Schedule of Investments | May 31, 2021 (Unaudited) | |
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 Notes 2 and 7 in Notes to Financial Statements for more detailed information.
Shares | Value | |||||||
COMMON STOCK — 99.9% | ||||||||
AUSTRALIA — 7.4% | ||||||||
Financials — 1.4% | ||||||||
HUB24 | 318,212 | $ | 6,582,089 | |||||
Zip * (A) | 1,934,415 | 10,722,723 | ||||||
17,304,812 | ||||||||
Information Technology — 6.0% | ||||||||
Afterpay * | 910,446 | 65,930,301 | ||||||
IRESS | 948,997 | 7,791,857 | ||||||
73,722,158 | ||||||||
TOTAL AUSTRALIA | 91,026,970 | |||||||
BRAZIL — 8.5% | ||||||||
Information Technology — 8.5% | ||||||||
Pagseguro Digital, Cl A * | 896,666 | 44,035,267 | ||||||
StoneCo, Cl A * | 894,603 | 59,016,960 | ||||||
TOTAL BRAZIL | 103,052,227 | |||||||
CANADA — 1.1% | ||||||||
Information Technology — 1.1% | ||||||||
Nuvei * | 174,465 | 12,992,443 | ||||||
10
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X FinTech ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
CHINA — 4.6% | ||||||||
Financials — 3.7% | ||||||||
Lufax Holding ADR * (A) | 3,726,363 | $ | 45,424,364 | |||||
Information Technology — 0.9% | ||||||||
Yeahka * (A) | 1,697,414 | 10,847,354 | ||||||
TOTAL CHINA | 56,271,718 | |||||||
DENMARK — 2.2% | ||||||||
Information Technology — 2.2% | ||||||||
SimCorp | 201,678 | 27,320,525 | ||||||
GERMANY — 1.5% | ||||||||
Financials — 1.5% | ||||||||
Hypoport * | 32,316 | 18,084,552 | ||||||
ISRAEL — 0.6% | ||||||||
Information Technology — 0.6% | ||||||||
Sapiens International | 248,904 | 7,146,034 | ||||||
ITALY — 3.6% | ||||||||
Information Technology — 3.6% | ||||||||
Nexi * | 2,139,820 | 43,439,191 | ||||||
JAPAN — 0.3% | ||||||||
Industrials — 0.3% | ||||||||
Makuake * (A) | 56,819 | 3,167,088 | ||||||
NETHERLANDS — 6.4% | ||||||||
Information Technology — 6.4% | ||||||||
Adyen * | 33,500 | 77,624,738 | ||||||
NEW ZEALAND — 4.9% | ||||||||
Information Technology — 4.9% | ||||||||
Xero * | 595,831 | 59,918,430 |
11
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X FinTech ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
SWITZERLAND — 3.5% | ||||||||
Financials — 0.4% | ||||||||
Leonteq | 93,876 | $ | 4,813,485 | |||||
Information Technology — 3.1% | ||||||||
Temenos | 241,963 | 37,475,298 | ||||||
TOTAL SWITZERLAND | 42,288,783 | |||||||
UNITED STATES — 55.3% | ||||||||
Financials — 3.6% | ||||||||
Blucora * | 235,840 | 4,089,466 | ||||||
LendingClub * | 481,371 | 7,355,349 | ||||||
LendingTree * | 64,947 | 13,330,372 | ||||||
Virtu Financial, Cl A | 598,502 | 18,224,386 | ||||||
42,999,573 | ||||||||
Health Care — 2.4% | ||||||||
HealthEquity * | 355,109 | 29,516,660 | ||||||
Information Technology — 49.3% | ||||||||
Bill.com Holdings * | 386,026 | 57,486,992 | ||||||
Black Knight * | 499,680 | 36,671,515 | ||||||
Bottomline Technologies * | 218,045 | 8,150,522 | ||||||
Envestnet * | 266,129 | 19,153,304 | ||||||
Fidelity National Information Services | 348,915 | 51,981,357 | ||||||
Fiserv * | 478,669 | 55,142,669 | ||||||
GreenSky, Cl A * | 466,990 | 2,736,561 | ||||||
Guidewire Software * | 334,655 | 32,709,180 | ||||||
Intuit | 164,831 | 72,375,644 | ||||||
Mitek Systems * | 247,164 | 4,191,901 | ||||||
nCino * | 351,433 | 21,479,585 | ||||||
PayPal Holdings * | 284,821 | 74,059,156 | ||||||
Shift4 Payments, Cl A * | 145,914 | 13,612,317 | ||||||
Square, Cl A * | 465,374 | 103,555,021 | ||||||
SS&C Technologies Holdings | 615,394 | 45,459,155 |
12
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X FinTech ETF |
Shares/Face Amount | Value | |||||||
COMMON STOCK — continued | ||||||||
Information Technology — continued | ||||||||
Vertex, Cl A * | 96,812 | $ | 1,859,759 | |||||
600,624,638 | ||||||||
TOTAL UNITED STATES | 673,140,871 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $914,726,769) | 1,215,473,570 | |||||||
SHORT-TERM INVESTMENT(B)(C) — 1.9% | ||||||||
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010% | ||||||||
(Cost $22,668,575) | 22,668,575 | 22,668,575 | ||||||
REPURCHASE AGREEMENT(B) — 1.8% | ||||||||
BNP Paribas | ||||||||
0.000%, dated 05/28/2021, to be repurchased on 06/01/2021, repurchase price $21,748,566 (collateralized by U.S. Treasury Obligations, ranging in par value $431,485 - $3,137,011, 2.000%, 10/31/2022, with a total market value of $22,172,879) | ||||||||
(Cost $21,748,566) | $ | 21,748,566 | 21,748,566 | |||||
TOTAL INVESTMENTS — 103.6% | ||||||||
(Cost $959,143,910) | $ | 1,259,890,711 |
Percentages are based on Net Assets of $1,216,182,854.
13
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X FinTech ETF |
* | Non-income producing security. |
(A) | This security or a partial position of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $41,722,700. |
(B) | Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2021 was $44,417,141. |
(C) | The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2021. |
ADR — American Depositary Receipt
Cl — Class
The following is a summary of the level of inputs used as of May 31, 2021, in valuing the Fund’s investments carried at value:
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | 1,215,473,570 | $ | — | $ | — | $ | 1,215,473,570 | ||||||||
Short-Term Investment | 22,668,575 | — | — | 22,668,575 | ||||||||||||
Repurchase Agreement | — | 21,748,566 | — | 21,748,566 | ||||||||||||
Total Investments in Securities | $ | 1,238,142,145 | $ | 21,748,566 | $ | — | $ | 1,259,890,711 |
For the period ended May 31, 2021, there were no transfers in or out of Level 3.
14
Schedule of Investments | May 31, 2021 (Unaudited) | |
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 Notes 2 and 7 in Notes to Financial Statements for more detailed information.
Shares | Value | |||||||
COMMON STOCK — 99.9% | ||||||||
CHINA — 13.2% | ||||||||
Communication Services — 13.2% | ||||||||
Bilibili ADR * | 247,728 | $ | 26,551,487 | |||||
DouYu International Holdings ADR * | 1,449,546 | 11,451,413 | ||||||
HUYA ADR * (A) | 266,250 | 4,073,625 | ||||||
NetEase ADR | 385,577 | 45,471,096 | ||||||
TOTAL CHINA | 87,547,621 | |||||||
FRANCE — 3.3% | ||||||||
Communication Services — 3.3% | ||||||||
Ubisoft Entertainment * | 300,756 | 21,945,238 | ||||||
IRELAND — 1.7% | ||||||||
Information Technology — 1.7% | ||||||||
Keywords Studios * | 309,086 | 11,446,818 | ||||||
JAPAN — 23.4% | ||||||||
Communication Services — 23.4% | ||||||||
Akatsuki | 46,756 | 1,515,664 | ||||||
Capcom | 905,524 | 29,065,694 | ||||||
DeNA | 399,742 | 8,098,433 | ||||||
Gumi (A) | 245,224 | 2,539,760 | ||||||
GungHo Online Entertainment * | 348,248 | 6,577,050 | ||||||
KLab * | 241,386 | 1,523,272 |
15
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Video Games & Esports ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Communication Services — continued | ||||||||
Konami Holdings | 440,855 | $ | 28,541,829 | |||||
Nexon | 966,557 | 22,886,242 | ||||||
Nintendo | 64,088 | 39,609,560 | ||||||
Square Enix Holdings | 315,486 | 16,954,056 | ||||||
TOTAL JAPAN | 157,311,560 | |||||||
SINGAPORE — 0.8% | ||||||||
Communication Services — 0.8% | ||||||||
IGG | 3,620,700 | 5,392,681 | ||||||
SOUTH KOREA — 12.3% | ||||||||
Communication Services — 12.3% | ||||||||
Com2uSCorp | 40,706 | 4,832,309 | ||||||
Gravity ADR * | 31,059 | 4,067,487 | ||||||
JoyCity * | 236,400 | 1,990,313 | ||||||
Kakao Games * | 334,752 | 15,637,568 | ||||||
NCSoft | 35,748 | 27,308,613 | ||||||
Neowiz * | 90,081 | 1,877,865 | ||||||
Netmarble | 93,032 | 11,427,763 | ||||||
Nexon GT * | 156,457 | 1,809,643 | ||||||
Pearl Abyss * | 154,666 | 8,070,977 | ||||||
Webzen * | 85,494 | 2,456,812 | ||||||
Wemade | 57,648 | 3,013,430 | ||||||
TOTAL SOUTH KOREA | 82,492,780 | |||||||
SWEDEN — 7.6% | ||||||||
Communication Services — 7.6% | ||||||||
Embracer Group, Cl B * | 1,191,227 | 34,913,152 | ||||||
Stillfront Group * | 1,565,159 | 16,391,118 | ||||||
TOTAL SWEDEN | 51,304,270 |
16
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Video Games & Esports ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
TAIWAN — 7.4% | ||||||||
Communication Services — 7.4% | ||||||||
Chinese Gamer International * | 920,500 | $ | 1,888,086 | |||||
Gamania Digital Entertainment | 866,100 | 2,007,542 | ||||||
Sea ADR * | 179,189 | 45,377,822 | ||||||
TOTAL TAIWAN | 49,273,450 | |||||||
UNITED STATES — 30.2% | ||||||||
Communication Services — 22.1% | ||||||||
Activision Blizzard | 446,705 | 43,442,061 | ||||||
Electronic Arts | 291,445 | 41,656,234 | ||||||
Take-Two Interactive Software * | 154,767 | 28,718,565 | ||||||
Zynga, Cl A * | 3,142,062 | 34,059,952 | ||||||
147,876,812 | ||||||||
Information Technology — 8.1% | ||||||||
NVIDIA | 78,770 | 51,183,170 | ||||||
Turtle Beach * | 92,007 | 3,045,432 | ||||||
54,228,602 | ||||||||
TOTAL UNITED STATES | 202,105,414 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $649,445,059) | 668,819,832 | |||||||
SHORT-TERM INVESTMENT(B)(C) — 0.2% | ||||||||
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010% | ||||||||
(Cost $1,406,241) | 1,406,241 | 1,406,241 |
17
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Video Games & Esports ETF |
Face Amount | Value | |||||||
REPURCHASE AGREEMENT(B) — 0.2% | ||||||||
BNP Paribas | ||||||||
0.000%, dated 05/28/2021, to be repurchased on 06/01/2021, repurchase price $1,349,169 (collateralized by U.S. Treasury Obligations, ranging in par value $26,767 - $194,604, 2.000%, 10/31/2022, with a total market value of $1,375,491) | ||||||||
(Cost $1,349,169) | $ | 1,349,169 | $ | 1,349,169 | ||||
TOTAL INVESTMENTS — 100.3% | ||||||||
(Cost $652,200,469) | $ | 671,575,242 |
Percentages are based on Net Assets of $669,813,038.
* | Non-income producing security. |
(A) | This security or a partial position of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $2,640,318. |
(B) | Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2021 was $2,755,410. |
(C) | The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2021. |
ADR — American Depositary Receipt
Cl — Class
The following is a summary of the level of inputs used as of May 31, 2021, in valuing the Fund’s investments carried at value:
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | 668,819,832 | $ | — | $ | — | $ | 668,819,832 | ||||||||
Short-Term Investment | 1,406,241 | — | — | 1,406,241 | ||||||||||||
Repurchase Agreement | — | 1,349,169 | — | 1,349,169 | ||||||||||||
Total Investments in Securities | $ | 670,226,073 | $ | 1,349,169 | $ | — | $ | 671,575,242 |
For the period ended May 31, 2021, there were no transfers in or out of Level 3.
18
Schedule of Investments | May 31, 2021 (Unaudited) | |
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 Notes 2 and 7 in Notes to Financial Statements for more detailed information.
Shares | Value | |||||||
COMMON STOCK — 98.0% | ||||||||
AUSTRALIA — 2.1% | ||||||||
Materials — 2.1% | ||||||||
Orocobre * | 1,927,620 | $ | 9,793,397 | |||||
Pilbara Minerals * | 9,298,742 | 8,781,867 | ||||||
TOTAL AUSTRALIA | 18,575,264 | |||||||
BELGIUM — 1.0% | ||||||||
Materials — 1.0% | ||||||||
Umicore | 155,622 | 9,366,666 | ||||||
CANADA — 1.6% | ||||||||
Industrials — 0.5% | ||||||||
Ballard Power Systems * (A) | 237,730 | 4,117,483 | ||||||
Information Technology — 1.1% | ||||||||
BlackBerry * (A) | 1,010,095 | 10,171,657 | ||||||
TOTAL CANADA | 14,289,140 | |||||||
CHILE — 1.8% | ||||||||
Materials — 1.8% | ||||||||
Lundin Mining | 883,233 | 9,483,056 |
19
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Autonomous & Electric Vehicles ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Materials — continued | ||||||||
Sociedad Quimica y Minera de Chile ADR | 158,489 | $ | 6,873,668 | |||||
TOTAL CHILE | 16,356,724 | |||||||
CHINA — 6.4% | ||||||||
Communication Services — 1.3% | ||||||||
Baidu ADR * | 61,152 | 12,002,303 | ||||||
Consumer Discretionary — 2.6% | ||||||||
BYD, Cl H | 303,530 | 6,949,337 | ||||||
Geely Automobile Holdings | 2,400,700 | 6,081,010 | ||||||
NIO ADR * | 264,277 | 10,206,378 | ||||||
23,236,725 | ||||||||
Information Technology — 1.7% | ||||||||
NXP Semiconductors | 73,052 | 15,444,654 | ||||||
Materials — 0.8% | ||||||||
Ganfeng Lithium, Cl H | 518,424 | 6,953,287 | ||||||
TOTAL CHINA | 57,636,969 | |||||||
FRANCE — 0.9% | ||||||||
Consumer Discretionary — 0.9% | ||||||||
Faurecia | 8,815 | 484,067 | ||||||
Renault * | 182,263 | 7,576,530 | ||||||
TOTAL FRANCE | 8,060,597 | |||||||
GERMANY — 2.5% | ||||||||
Consumer Discretionary — 1.0% | ||||||||
Continental * | 62,092 | 9,202,008 | ||||||
Information Technology — 1.5% | ||||||||
Infineon Technologies | 320,621 | 12,972,551 | ||||||
TOTAL GERMANY | 22,174,559 |
20
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Autonomous & Electric Vehicles ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
JAPAN — 8.4% | ||||||||
Consumer Discretionary — 7.7% | ||||||||
Denso | 171,451 | $ | 11,756,417 | |||||
Honda Motor | 429,632 | 13,548,204 | ||||||
Nissan Motor * | 1,634,450 | 8,223,153 | ||||||
Panasonic | 829,969 | 9,482,665 | ||||||
Toyota Motor | 314,961 | 26,162,025 | ||||||
69,172,464 | ||||||||
Industrials — 0.7% | ||||||||
GS Yuasa | 235,726 | 6,751,870 | ||||||
TOTAL JAPAN | 75,924,334 | |||||||
LUXEMBOURG — 1.0% | ||||||||
Materials — 1.0% | ||||||||
APERAM | 166,425 | 9,167,445 | ||||||
NETHERLANDS — 0.7% | ||||||||
Consumer Discretionary — 0.7% | ||||||||
TomTom * | 663,014 | 6,041,204 | ||||||
RUSSIA — 1.1% | ||||||||
Communication Services — 1.1% | ||||||||
Yandex, Cl A * | 138,921 | 9,382,724 | ||||||
SOUTH KOREA — 2.3% | ||||||||
Consumer Discretionary — 2.3% | ||||||||
Hyundai Motor | 46,588 | 9,691,039 | ||||||
Kia Motors | 143,390 | 10,889,566 | ||||||
TOTAL SOUTH KOREA | 20,580,605 | |||||||
SWEDEN — 2.0% | ||||||||
Consumer Discretionary — 2.0% | ||||||||
Autoliv | 87,826 | 9,312,191 |
21
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Autonomous & Electric Vehicles ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Consumer Discretionary — continued | ||||||||
Veoneer * (A) | 361,720 | $ | 8,561,912 | |||||
TOTAL SWEDEN | 17,874,103 | |||||||
UNITED KINGDOM — 1.0% | ||||||||
Materials — 1.0% | ||||||||
Johnson Matthey | 217,058 | 9,374,281 | ||||||
UNITED STATES — 65.2% | ||||||||
Communication Services — 3.9% | ||||||||
Alphabet, Cl A * | 14,774 | 34,820,102 | ||||||
Consumer Discretionary — 15.5% | ||||||||
American Axle & Manufacturing Holdings * | 796,761 | 8,923,723 | ||||||
Aptiv * | 79,270 | 11,923,793 | ||||||
BorgWarner | 205,193 | 10,524,349 | ||||||
Dana | 338,257 | 9,176,912 | ||||||
Ford Motor * | 1,186,821 | 17,244,509 | ||||||
General Motors * | 304,016 | 18,031,189 | ||||||
Gentherm * | 107,414 | 7,790,738 | ||||||
Harley-Davidson | 201,528 | 9,768,062 | ||||||
Lear | 50,646 | 9,792,911 | ||||||
Stellantis * | 535,246 | 10,501,233 | ||||||
Tesla * | 30,446 | 19,035,448 | ||||||
Visteon * | 53,341 | 6,532,139 | ||||||
139,245,006 | ||||||||
Industrials — 11.3% | ||||||||
Bloom Energy, Cl A * | 219,641 | 5,308,723 | ||||||
CBAK Energy Technology * (A) | 1,001,435 | 4,196,013 | ||||||
EnerSys | 84,859 | 7,997,112 | ||||||
General Electric | 1,456,139 | 20,473,314 | ||||||
Honeywell International | 82,052 | 18,946,627 | ||||||
Hyster-Yale Materials Handling | 96,840 | 7,320,136 | ||||||
ITT | 98,690 | 9,266,991 | ||||||
Johnson Controls International | 222,097 | 14,778,334 |
22
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Autonomous & Electric Vehicles ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Industrials — continued | ||||||||
Plug Power * | 156,174 | $ | 4,794,542 | |||||
Westinghouse Air Brake Technologies | 107,999 | 8,937,997 | ||||||
102,019,789 | ||||||||
Information Technology — 27.5% | ||||||||
Advanced Micro Devices * | 179,888 | 14,405,431 | ||||||
Ambarella * | 78,416 | 7,871,398 | ||||||
Apple | 200,313 | 24,961,003 | ||||||
CEVA * | 133,648 | 5,996,786 | ||||||
Cisco Systems | 374,762 | 19,824,910 | ||||||
II-VI * | 95,425 | 6,428,782 | ||||||
Intel | 484,584 | 27,679,438 | ||||||
Maxim Integrated Products * | 106,765 | 10,891,098 | ||||||
Micron Technology * | 219,040 | 18,430,026 | ||||||
Microsoft | 120,086 | 29,983,072 | ||||||
NVIDIA | 47,832 | 31,080,277 | ||||||
ON Semiconductor * | 247,058 | 9,892,202 | ||||||
QUALCOMM | 167,052 | 22,475,176 | ||||||
Rogers * | 44,160 | 8,273,376 | ||||||
Xilinx * | 78,018 | 9,908,286 | ||||||
248,101,261 | ||||||||
Materials — 7.0% | ||||||||
Albemarle | 52,166 | 8,715,895 | ||||||
Allegheny Technologies * | 402,724 | 9,862,711 | ||||||
Cabot | 153,138 | 9,736,514 | ||||||
Carpenter Technology | 221,553 | 10,616,820 | ||||||
Freeport-McMoRan Copper & Gold | 399,036 | 17,046,818 | ||||||
Livent * | 356,669 | 6,958,612 | ||||||
62,937,370 | ||||||||
TOTAL UNITED STATES | 587,123,528 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $841,166,592) | 881,928,143 |
23
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Autonomous & Electric Vehicles ETF |
Shares/Face Amount | Value | |||||||
PREFERRED STOCK — 1.9% | ||||||||
GERMANY— 1.9% | ||||||||
Consumer Discretionary — 1.9% | ||||||||
Volkswagen (B) | ||||||||
(Cost $12,106,072) | 61,860 | $ | 17,041,416 | |||||
SHORT-TERM INVESTMENT(C)(D) — 1.2% | ||||||||
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010% | ||||||||
(Cost $10,626,940) | 10,626,940 | 10,626,940 | ||||||
REPURCHASE AGREEMENT(C) — 1.1% | ||||||||
BNP Paribas | ||||||||
0.000%, dated 05/28/2021, to be repurchased on 06/01/2021, repurchase price $10,195,643 (collateralized by U.S. Treasury Obligations, ranging in par value $202,278 - $1,470,619, 2.000%, 10/31/2022, with a total market value of $10,394,561) | ||||||||
(Cost $10,195,643) | $ | 10,195,643 | 10,195,643 | |||||
TOTAL INVESTMENTS — 102.2% | ||||||||
(Cost $874,095,247) | $ | 919,792,142 |
Percentages are based on Net Assets of $900,379,020.
* | Non-income producing security. |
(A) | This security or a partial position of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $20,442,006. |
(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 May 31, 2021 was $20,822,583. |
(D) | The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2021. |
ADR — American Depositary Receipt
Cl — Class
24
The following is a summary of the level of inputs used as of May 31, 2021, in valuing the Fund’s investments carried at value:
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | 881,928,143 | $ | — | $ | — | $ | 881,928,143 | ||||||||
Preferred Stock | 17,041,416 | — | — | 17,041,416 | ||||||||||||
Short-Term Investment | 10,626,940 | — | — | 10,626,940 | ||||||||||||
Repurchase Agreement | — | 10,195,643 | — | 10,195,643 | ||||||||||||
Total Investments in Securities | $ | 909,596,499 | $ | 10,195,643 | $ | — | $ | 919,792,142 |
For the period ended May 31, 2021, there were no transfers in or out of Level 3.
25
Schedule of Investments | May 31, 2021 (Unaudited) | |
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 Notes 2 and 7 in Notes to Financial Statements for more detailed information.
Shares | Value | |||||||
COMMON STOCK — 99.9% | ||||||||
CANADA — 4.3% | ||||||||
Information Technology — 4.3% | ||||||||
Shopify, Cl A * | 45,205 | $ | 56,183,939 | |||||
CHINA — 3.2% | ||||||||
Consumer Discretionary — 1.1% | ||||||||
Alibaba Group Holding ADR * | 68,916 | 14,745,267 | ||||||
Information Technology — 2.1% | ||||||||
21Vianet Group ADR * | 1,035,936 | 23,122,092 | ||||||
Kingsoft | 522,700 | 3,528,890 | ||||||
26,650,982 | ||||||||
TOTAL CHINA | 41,396,249 | |||||||
NEW ZEALAND — 3.6% | ||||||||
Information Technology — 3.6% | ||||||||
Xero * | 464,909 | 46,752,548 | ||||||
UNITED STATES — 88.8% | ||||||||
Communication Services — 5.3% | ||||||||
Alphabet, Cl A * | 7,625 | 17,970,981 | ||||||
Netflix * | 98,689 | 49,621,816 | ||||||
67,592,797 |
26
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Cloud Computing ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Consumer Discretionary — 4.0% | ||||||||
2U * | 716,283 | $ | 26,087,027 | |||||
Amazon.com * | 7,460 | 24,044,102 | ||||||
50,131,129 | ||||||||
Information Technology — 73.8% | ||||||||
Akamai Technologies * | 447,454 | 51,103,721 | ||||||
Anaplan * | 906,593 | 46,698,605 | ||||||
Benefitfocus * | 309,912 | 4,583,598 | ||||||
Box, Cl A * | 1,567,045 | 36,527,819 | ||||||
Cornerstone OnDemand * | 637,217 | 28,018,431 | ||||||
Coupa Software * | 210,966 | 50,252,101 | ||||||
Dropbox, Cl A * | 2,010,121 | 54,976,809 | ||||||
Everbridge * | 362,338 | 42,574,715 | ||||||
Fastly, Cl A * (A) | 1,018,841 | 48,079,107 | ||||||
International Business Machines | 24,723 | 3,553,684 | ||||||
Microsoft | 99,160 | 24,758,269 | ||||||
Mimecast * | 620,050 | 30,996,300 | ||||||
Paycom Software * | 150,672 | 49,661,491 | ||||||
Paylocity Holding * | 289,676 | 49,195,675 | ||||||
Proofpoint * | 286,938 | 49,585,756 | ||||||
Qualys * | 377,066 | 36,454,741 | ||||||
salesforce.com * | 226,090 | 53,832,029 | ||||||
SPS Commerce * | 345,544 | 32,432,760 | ||||||
Twilio, Cl A * | 162,956 | 54,753,216 | ||||||
Workday, Cl A * | 210,937 | 48,245,511 | ||||||
Workiva, Cl A * | 405,673 | 38,498,368 | ||||||
Zoom Video Communications, Cl A * | 168,282 | 55,790,531 | ||||||
Zscaler * | 294,576 | 57,206,659 | ||||||
947,779,896 | ||||||||
Real Estate — 5.7% | ||||||||
CoreSite Realty ‡ | 53,306 | 6,463,353 | ||||||
CyrusOne ‡ | 150,604 | 11,107,045 | ||||||
Digital Realty Trust ‡ | 329,713 | 49,971,302 |
27
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Cloud Computing ETF |
Shares/Face Amount | Value | |||||||
COMMON STOCK — continued | ||||||||
Real Estate — continued | ||||||||
QTS Realty Trust, Cl A ‡ | 84,389 | $ | 5,348,575 | |||||
72,890,275 | ||||||||
TOTAL UNITED STATES | 1,138,394,097 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $1,116,449,830) | 1,282,726,833 | |||||||
SHORT-TERM INVESTMENT(B)(C) — 1.2% | ||||||||
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010% | ||||||||
(Cost $15,855,160) | 15,855,160 | 15,855,160 | ||||||
REPURCHASE AGREEMENT(B) — 1.2% | ||||||||
BNP Paribas | ||||||||
0.000%, dated 05/28/2021, to be repurchased on 06/01/2021, repurchase price $15,211,675 (collateralized by U.S. Treasury Obligations, ranging in par value $301,795 - $2,194,131, 2.000%, 10/31/2022, with a total market value of $15,508,457) | ||||||||
(Cost $15,211,675) | $ | 15,211,675 | 15,211,675 | |||||
TOTAL INVESTMENTS — 102.3% | ||||||||
(Cost $1,147,516,665) | $ | 1,313,793,668 |
Percentages are based on Net Assets of $1,283,700,238.
28
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Cloud Computing ETF |
* | Non-income producing security. |
‡ | Real Estate Investment Trust |
(A) | This security or a partial position of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $29,791,047. |
(B) | Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2021 was $31,066,835. |
(C) | The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2021. |
ADR — American Depositary Receipt
Cl — Class
The following is a summary of the level of inputs used as of May 31, 2021, in valuing the Fund’s investments carried at value:
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | 1,282,726,833 | $ | — | $ | — | $ | 1,282,726,833 | ||||||||
Short-Term Investment | 15,855,160 | — | — | 15,855,160 | ||||||||||||
Repurchase Agreement | — | 15,211,675 | — | 15,211,675 | ||||||||||||
Total Investments in Securities | $ | 1,298,581,993 | $ | 15,211,675 | $ | — | $ | 1,313,793,668 |
For the period ended May 31, 2021, there were no transfers in or out of Level 3.
29
Schedule of Investments | May 31, 2021 (Unaudited) | |
Sector Weightings †:
† Sector weightings percentages are based on the total market value of investments.
Shares | Value | |||||||
COMMON STOCK — 99.8% | ||||||||
AUSTRALIA — 3.2% | ||||||||
Information Technology — 3.2% | ||||||||
NEXTDC * | 202,016 | $ | 1,720,975 | |||||
CHINA — 9.0% | ||||||||
Communication Services — 4.0% | ||||||||
China Tower, Cl H | 15,661,400 | 2,138,901 | ||||||
Information Technology — 5.0% | ||||||||
21Vianet Group ADR * | 46,482 | 1,037,478 | ||||||
GDS Holdings ADR * | 22,361 | 1,681,994 | ||||||
2,719,472 | ||||||||
TOTAL CHINA | 4,858,373 | |||||||
HONG KONG — 0.6% | ||||||||
Information Technology — 0.6% | ||||||||
SUNeVision Holdings | 288,181 | 299,264 | ||||||
INDONESIA — 2.8% | ||||||||
Communication Services — 2.8% | ||||||||
Sarana Menara Nusantara | 10,921,778 | 898,361 | ||||||
Tower Bersama Infrastructure | 3,664,585 | 613,116 | ||||||
TOTAL INDONESIA | 1,511,477 | |||||||
SINGAPORE — 2.1% | ||||||||
Real Estate — 2.1% | ||||||||
Keppel ‡ | 581,570 | 1,129,560 | ||||||
30
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Data Center REITs & Digital Infrastructure ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
TAIWAN — 2.4% | ||||||||
Information Technology — 2.4% | ||||||||
Winbond Electronics | 1,016,204 | $ | 1,240,011 | |||||
UNITED STATES — 79.7% | ||||||||
Communication Services — 0.8% | ||||||||
Radius Global Infrastructure, Cl A * | 27,242 | 435,872 | ||||||
Information Technology — 12.0% | ||||||||
Advanced Micro Devices * | 10,900 | 872,872 | ||||||
Microchip Technology | 6,632 | 1,040,892 | ||||||
Micron Technology * | 12,529 | 1,054,190 | ||||||
NVIDIA | 1,876 | 1,218,987 | ||||||
Switch, Cl A | 44,132 | 832,771 | ||||||
Western Digital * | 20,385 | 1,533,564 | ||||||
6,553,276 | ||||||||
Real Estate — 66.9% | ||||||||
American Tower, Cl A ‡ | 27,832 | 7,109,963 | ||||||
CoreSite Realty ‡ | 18,851 | 2,285,684 | ||||||
Crown Castle International ‡ | 39,523 | 7,489,609 | ||||||
CyrusOne ‡ | 31,986 | 2,358,968 | ||||||
Digital Realty Trust ‡ | 33,963 | 5,147,432 | ||||||
Equinix ‡ | 8,708 | 6,415,358 | ||||||
QTS Realty Trust, Cl A ‡ | 28,382 | 1,798,851 | ||||||
SBA Communications, Cl A ‡ | 8,533 | 2,543,858 | ||||||
Uniti Group ‡ | 99,074 | 1,075,944 | ||||||
36,225,667 | ||||||||
TOTAL UNITED STATES | 43,214,815 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $51,999,205) | 53,974,475 |
31
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Data Center REITs & Digital Infrastructure ETF |
Value | ||||||||
TOTAL INVESTMENTS — 99.8% | ||||||||
(Cost $51,999,205) | $ | 53,974,475 |
Percentages are based on Net Assets of $54,081,522.
* | Non-income producing security. |
‡ | Real Estate Investment Trust |
ADR — American Depositary Receipt
Cl — Class
As of May 31, 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 period ended May 31, 2021, there were no transfers in or out of Level 3.
32
Schedule of Investments | May 31, 2021 (Unaudited) | |
Sector Weightings †:
† Sector weightings percentages are based on the total market value of investments.
Shares | Value | |||||||
COMMON STOCK — 100.0% | ||||||||
CANADA — 0.6% | ||||||||
Information Technology — 0.6% | ||||||||
Absolute Software | 158,039 | $ | 2,200,510 | |||||
ISRAEL — 6.9% | ||||||||
Information Technology — 6.9% | ||||||||
Check Point Software Technologies * | 165,716 | 19,385,458 | ||||||
Radware * | 148,732 | 4,342,974 | ||||||
Tufin Software Technologies * | 112,833 | 1,025,652 | ||||||
TOTAL ISRAEL | 24,754,084 | |||||||
JAPAN — 5.6% | ||||||||
Information Technology — 5.6% | ||||||||
Cyber Security Cloud * | 36,264 | 955,609 | ||||||
Digital Arts | 45,539 | 3,354,089 | ||||||
Trend Micro * | 311,010 | 15,836,836 | ||||||
TOTAL JAPAN | 20,146,534 | |||||||
SOUTH KOREA — 0.5% | ||||||||
Information Technology — 0.5% | ||||||||
Ahnlab | 32,145 | 1,957,003 | ||||||
UNITED KINGDOM — 4.4% | ||||||||
Information Technology — 4.4% | ||||||||
Avast | 2,373,412 | 15,849,892 | ||||||
UNITED STATES — 82.0% | ||||||||
Information Technology — 82.0% | ||||||||
A10 Networks * | 248,485 | 2,417,759 | ||||||
Crowdstrike Holdings, Cl A * | 106,298 | 23,614,100 |
33
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Cybersecurity ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Information Technology — continued | ||||||||
CyberArk Software * | 126,300 | $ | 15,982,002 | |||||
FireEye * | 770,357 | 17,232,886 | ||||||
Fortinet * | 96,329 | 21,051,740 | ||||||
Intrusion * | 96,393 | 1,432,400 | ||||||
McAfee, Cl A | 524,527 | 13,181,364 | ||||||
Mimecast * | 207,879 | 10,391,871 | ||||||
NortonLifeLock | 716,484 | 19,817,947 | ||||||
Okta, Cl A * | 84,858 | 18,875,814 | ||||||
OneSpan * | 129,635 | 3,389,955 | ||||||
Palo Alto Networks * | 58,935 | 21,408,139 | ||||||
Ping Identity Holding * | 264,641 | 6,380,495 | ||||||
Proofpoint * | 86,843 | 15,007,339 | ||||||
Qualys * | 126,439 | 12,224,123 | ||||||
Rapid7 * | 177,953 | 14,885,768 | ||||||
Sailpoint Technologies Holdings * | 297,086 | 13,823,412 | ||||||
Telos * | 212,572 | 6,989,367 | ||||||
Tenable Holdings * | 341,075 | 14,256,935 | ||||||
Varonis Systems, Cl B * | 315,721 | 15,249,324 | ||||||
VirnetX Holding * | 223,018 | 1,021,422 | ||||||
Zix * | 182,301 | 1,270,638 | ||||||
Zscaler * | 118,851 | 23,080,864 | ||||||
TOTAL UNITED STATES | 292,985,664 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $383,605,863) | 357,893,687 | |||||||
TOTAL INVESTMENTS — 100.0% | ||||||||
(Cost $383,605,863) | $ | 357,893,687 |
Percentages are based on Net Assets of $357,759,420.
* | Non-income producing security. |
Cl — Class
34
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Cybersecurity ETF |
As of May 31, 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 period ended May 31, 2021, there were no transfers in or out of Level 3.
35
Schedule of Investments | May 31, 2021 (Unaudited) | |
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 Notes 2 and 7 in Notes to Financial Statements for more detailed information.
Shares | Value | |||||||
COMMON STOCK — 99.9% | ||||||||
BRAZIL — 0.6% | ||||||||
Consumer Discretionary — 0.3% | ||||||||
Afya, Cl A * | 25,087 | $ | 587,287 | |||||
Information Technology — 0.3% | ||||||||
StoneCo, Cl A * | 9,562 | 630,805 | ||||||
TOTAL BRAZIL | 1,218,092 | |||||||
CANADA — 4.1% | ||||||||
Industrials — 1.0% | ||||||||
Thomson Reuters | 21,030 | 2,060,309 | ||||||
Information Technology — 3.1% | ||||||||
Shopify, Cl A * | 5,089 | 6,324,965 | ||||||
TOTAL CANADA | 8,385,274 | |||||||
CHINA — 10.5% | ||||||||
Communication Services — 3.7% | ||||||||
Baidu ADR * | 11,521 | 2,261,227 | ||||||
Tencent Holdings | 69,443 | 5,381,687 | ||||||
7,642,914 | ||||||||
36
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Artificial Intelligence & Technology ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Consumer Discretionary — 4.6% | ||||||||
Alibaba Group Holding ADR * | 23,469 | $ | 5,021,427 | |||||
Meituan, Cl B * | 127,041 | 4,340,820 | ||||||
9,362,247 | ||||||||
Information Technology — 2.2% | ||||||||
21Vianet Group ADR * | 15,605 | 348,304 | ||||||
Canaan ADR * (A) | 126,637 | 1,063,751 | ||||||
NXP Semiconductors | 12,126 | 2,563,679 | ||||||
ZTE, Cl H | 202,300 | 546,052 | ||||||
4,521,786 | ||||||||
TOTAL CHINA | 21,526,947 | |||||||
FINLAND — 0.3% | ||||||||
Information Technology — 0.3% | ||||||||
TietoEVRY | 17,862 | 582,693 | ||||||
FRANCE — 0.2% | ||||||||
Communication Services — 0.2% | ||||||||
Ubisoft Entertainment * | 5,735 | 418,465 | ||||||
GERMANY — 4.4% | ||||||||
Industrials — 3.3% | ||||||||
Siemens | 40,573 | 6,667,273 | ||||||
Information Technology — 1.1% | ||||||||
Infineon Technologies | 55,250 | 2,235,454 | ||||||
TOTAL GERMANY | 8,902,727 | |||||||
IRELAND — 0.5% | ||||||||
Information Technology — 0.5% | ||||||||
Seagate Technology Holdings | 10,829 | 1,036,877 | ||||||
ISRAEL — 0.7% | ||||||||
Information Technology — 0.7% | ||||||||
Cognyte Software * | 8,318 | 214,105 |
37
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Artificial Intelligence & Technology ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Information Technology — continued | ||||||||
Tower Semiconductor * | 19,916 | $ | 547,092 | |||||
Wix.com * | 2,419 | 628,601 | ||||||
TOTAL ISRAEL | 1,389,798 | |||||||
ITALY — 0.3% | ||||||||
Health Care — 0.3% | ||||||||
Amplifon | 14,709 | 691,444 | ||||||
JAPAN — 1.8% | ||||||||
Industrials — 1.7% | ||||||||
FANUC | 8,572 | 2,066,322 | ||||||
Fujikura | 128,362 | 556,751 | ||||||
Toshiba | 21,070 | 890,889 | ||||||
3,513,962 | ||||||||
Information Technology — 0.1% | ||||||||
AI inside * | 919 | 144,149 | ||||||
TOTAL JAPAN | 3,658,111 | |||||||
NETHERLANDS — 0.5% | ||||||||
Industrials — 0.5% | ||||||||
Wolters Kluwer | 11,300 | 1,083,859 | ||||||
SOUTH KOREA — 4.4% | ||||||||
Information Technology — 4.4% | ||||||||
Samsung Electronics | 76,137 | 5,468,102 | ||||||
SK Hynix | 30,788 | 3,450,641 | ||||||
TOTAL SOUTH KOREA | 8,918,743 | |||||||
SWEDEN — 0.8% | ||||||||
Information Technology — 0.8% | ||||||||
Telefonaktiebolaget LM Ericsson ADR | 129,856 | 1,743,966 | ||||||
38
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Artificial Intelligence & Technology ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
SWITZERLAND — 0.7% | ||||||||
Information Technology — 0.7% | ||||||||
STMicroelectronics (A) | 38,459 | $ | 1,434,974 | |||||
TAIWAN — 1.2% | ||||||||
Industrials — 0.3% | ||||||||
Bizlink Holding | 60,300 | 523,866 | ||||||
Information Technology — 0.9% | ||||||||
Acer | 708,000 | 811,608 | ||||||
Alchip Technologies | 17,690 | 337,979 | ||||||
Global Unichip | 43,000 | 553,379 | ||||||
1,702,966 | ||||||||
TOTAL TAIWAN | 2,226,832 | |||||||
UNITED KINGDOM — 1.1% | ||||||||
Industrials — 0.7% | ||||||||
Experian | 38,732 | 1,484,391 | ||||||
Information Technology — 0.4% | ||||||||
Dialog Semiconductor * | 9,517 | 754,710 | ||||||
TOTAL UNITED KINGDOM | 2,239,101 | |||||||
UNITED STATES — 67.8% | ||||||||
Communication Services — 12.5% | ||||||||
Alphabet, Cl A * | 3,260 | 7,683,331 | ||||||
Facebook, Cl A * | 22,392 | 7,360,922 | ||||||
Netflix * | 10,532 | 5,295,595 | ||||||
Snap, Cl A * | 52,251 | 3,245,832 | ||||||
Twitter * | 33,608 | 1,949,264 | ||||||
25,534,944 | ||||||||
Consumer Discretionary — 3.8% | ||||||||
Amazon.com * | 1,862 | 6,001,356 |
39
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Artificial Intelligence & Technology ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Consumer Discretionary — continued | ||||||||
eBay | 29,461 | $ | 1,793,586 | |||||
7,794,942 | ||||||||
Health Care — 0.3% | ||||||||
ABIOMED * | 1,912 | 544,117 | ||||||
Industrials — 4.1% | ||||||||
Booz Allen Hamilton Holding, Cl A | 6,404 | 543,892 | ||||||
Hubbell, Cl B | 3,663 | 698,314 | ||||||
Nielsen Holdings | 27,885 | 758,751 | ||||||
Rockwell Automation | 4,916 | 1,296,447 | ||||||
Uber Technologies * | 78,332 | 3,981,616 | ||||||
Verisk Analytics, Cl A | 6,876 | 1,188,379 | ||||||
8,467,399 | ||||||||
Information Technology — 47.1% | ||||||||
Accenture, Cl A | 23,651 | 6,673,366 | ||||||
Adobe * | 12,922 | 6,520,183 | ||||||
Apple | 44,603 | 5,557,980 | ||||||
Cadence Design Systems * | 11,804 | 1,498,990 | ||||||
Cisco Systems | 135,326 | 7,158,745 | ||||||
Cornerstone OnDemand * | 14,138 | 621,648 | ||||||
Datadog, Cl A * | 8,765 | 798,053 | ||||||
DXC Technology * | 20,730 | 786,081 | ||||||
FireEye * | 26,876 | 601,216 | ||||||
Genpact | 14,918 | 682,349 | ||||||
Hewlett Packard Enterprise | 54,542 | 870,490 | ||||||
Intel | 97,728 | 5,582,223 | ||||||
International Business Machines | 37,710 | 5,420,435 | ||||||
Microsoft | 27,123 | 6,772,071 | ||||||
NVIDIA | 11,028 | 7,165,774 | ||||||
Okta, Cl A * | 5,111 | 1,136,891 | ||||||
Oracle | 99,732 | 7,852,898 | ||||||
Pegasystems | 4,257 | 502,922 | ||||||
PROS Holdings * | 14,428 | 640,170 |
40
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Artificial Intelligence & Technology ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Information Technology — continued | ||||||||
QUALCOMM | 37,042 | $ | 4,983,631 | |||||
salesforce.com * | 27,490 | 6,545,369 | ||||||
ServiceNow * | 8,270 | 3,918,988 | ||||||
Smartsheet, Cl A * | 8,611 | 508,738 | ||||||
Splunk * | 6,843 | 829,372 | ||||||
Super Micro Computer * | 17,972 | 624,347 | ||||||
Synopsys * | 6,470 | 1,645,580 | ||||||
Teradata * | 23,402 | 1,120,254 | ||||||
Trade Desk, Cl A * | 1,797 | 1,056,887 | ||||||
Twilio, Cl A * | 5,920 | 1,989,120 | ||||||
Ubiquiti | 2,663 | 802,948 | ||||||
Verint Systems * | 8,498 | 391,843 | ||||||
Viasat * | 15,556 | 827,268 | ||||||
Workday, Cl A * | 7,626 | 1,744,219 | ||||||
Xilinx | 10,374 | 1,317,498 | ||||||
Zebra Technologies, Cl A * | 2,245 | 1,115,877 | ||||||
Zscaler * | 5,669 | 1,100,920 | ||||||
97,365,344 | ||||||||
TOTAL UNITED STATES | 139,706,746 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $188,369,523) | 205,164,649 | |||||||
SHORT-TERM INVESTMENT(B)(C) — 0.3% | ||||||||
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010% | ||||||||
(Cost $624,354) | 624,354 | 624,354 |
41
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Artificial Intelligence & Technology ETF |
Face Amount | Value | |||||||
REPURCHASE AGREEMENT(B) — 0.3% | ||||||||
BNP Paribas | ||||||||
0.000%, dated 05/28/2021, to be repurchased on 06/01/2021, repurchase price $599,015 (collateralized by U.S. Treasury Obligations, ranging in par value $11,884 - $86,402, 2.000%, 10/31/2022, with a total market value of $610,702) | ||||||||
(Cost $599,015) | $ | 599,015 | $ | 599,015 | ||||
TOTAL INVESTMENTS — 100.5% | ||||||||
(Cost $189,592,892) | $ | 206,388,018 |
Percentages are based on Net Assets of $205,446,857.
* | Non-income producing security. |
(A) | This security or a partial position of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $1,212,639. |
(B) | Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2021 was $1,223,369. |
(C) | The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2021. |
ADR — American Depositary Receipt
Cl — Class
The following is a summary of the level of inputs used as of May 31, 2021, in valuing the Fund’s investments carried at value:
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | 205,164,649 | $ | — | $ | — | $ | 205,164,649 | ||||||||
Short-Term Investment | 624,354 | — | — | 624,354 | ||||||||||||
Repurchase Agreement | — | 599,015 | — | 599,015 | ||||||||||||
Total Investments in Securities | $ | 205,789,003 | $ | 599,015 | $ | — | $ | 206,388,018 |
For the period ended May 31, 2021, there were no transfers in or out of Level 3.
42
Schedule of Investments | May 31, 2021 (Unaudited) | |
Sector Weightings †:
† Sector weightings percentages are based on the total market value of investments.
Shares | Value | |||||||
COMMON STOCK — 99.9% | ||||||||
GERMANY — 0.3% | ||||||||
Communication Services — 0.3% | ||||||||
Trivago ADR * | 136,325 | $ | 539,847 | |||||
TAIWAN — 3.1% | ||||||||
Communication Services — 3.1% | ||||||||
Sea ADR * | 22,495 | 5,696,634 | ||||||
UNITED STATES — 96.5% | ||||||||
Communication Services — 27.8% | ||||||||
Activision Blizzard | 59,026 | 5,740,279 | ||||||
Alphabet, Cl A * | 2,516 | 5,929,835 | ||||||
Angi, Cl A * | 36,408 | 516,265 | ||||||
Cargurus, Cl A * | 22,654 | 639,296 | ||||||
Cars.com * | 41,776 | 610,347 | ||||||
Facebook, Cl A * | 18,103 | 5,951,000 | ||||||
IAC * | 6,730 | 1,073,233 | ||||||
iHeartMedia * | 31,827 | 738,705 | ||||||
Liberty TripAdvisor Holdings, Cl A * | 89,801 | 427,453 | ||||||
Match Group * | 21,850 | 3,132,853 | ||||||
Netflix * | 10,268 | 5,162,853 | ||||||
Snap, Cl A * | 90,056 | 5,594,279 | ||||||
Spotify Technology * | 15,499 | 3,744,093 | ||||||
TripAdvisor * | 10,961 | 476,255 |
43
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Millennial Consumer ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Communication Services — continued | ||||||||
Twitter * | 64,849 | $ | 3,761,242 | |||||
Vimeo * | 10,901 | 457,842 | ||||||
Walt Disney * | 30,399 | 5,430,781 | ||||||
Yelp, Cl A * | 13,784 | 552,876 | ||||||
Zillow Group, Cl A * | 4,943 | 584,707 | ||||||
Zynga, Cl A * | 87,900 | 952,836 | ||||||
51,477,030 | ||||||||
Consumer Discretionary — 39.9% | ||||||||
2U * | 13,672 | 497,934 | ||||||
Aaron’s | 22,146 | 796,592 | ||||||
Airbnb, Cl A * | 9,803 | 1,376,341 | ||||||
Amazon.com * | 1,717 | 5,534,011 | ||||||
AutoNation * | 6,519 | 665,785 | ||||||
Bed Bath & Beyond * | 19,094 | 534,441 | ||||||
Booking Holdings * | 2,344 | 5,535,473 | ||||||
Capri Holdings * | 12,215 | 692,713 | ||||||
CarMax * | 13,188 | 1,519,126 | ||||||
Carter’s | 6,202 | 634,092 | ||||||
Carvana, Cl A * | 6,353 | 1,684,117 | ||||||
Chegg * | 11,365 | 874,081 | ||||||
Children’s Place Retail Stores * | 7,877 | 732,482 | ||||||
Chipotle Mexican Grill, Cl A * | 2,289 | 3,140,462 | ||||||
Columbia Sportswear | 5,366 | 551,249 | ||||||
Designer Brands, Cl A * | 32,367 | 566,099 | ||||||
Dick’s Sporting Goods | 6,738 | 657,157 | ||||||
eBay | 55,276 | 3,365,203 | ||||||
Etsy * | 10,231 | 1,685,353 | ||||||
Expedia Group * | 11,229 | 1,986,972 | ||||||
GoPro, Cl A * | 45,024 | 505,169 | ||||||
Graham Holdings, Cl B | 918 | 608,212 | ||||||
Groupon, Cl A * | 11,648 | 550,368 | ||||||
Grubhub * | 8,665 | 520,853 | ||||||
Home Depot | 18,107 | 5,774,503 |
44
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Millennial Consumer ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Consumer Discretionary — continued | ||||||||
L Brands | 22,607 | $ | 1,579,551 | |||||
Laureate Education, Cl A * | 42,679 | 623,540 | ||||||
Lowe’s | 29,317 | 5,711,831 | ||||||
Lululemon Athletica * | 10,166 | 3,284,939 | ||||||
NIKE, Cl B | 42,595 | 5,812,513 | ||||||
Peloton Interactive, Cl A * | 21,410 | 2,361,737 | ||||||
Planet Fitness, Cl A * | 6,718 | 529,177 | ||||||
Skechers USA, Cl A * | 13,309 | 632,178 | ||||||
Starbucks | 50,371 | 5,736,250 | ||||||
Strategic Education | 6,127 | 434,037 | ||||||
Stride * | 16,436 | 441,800 | ||||||
Under Armour, Cl A * | 24,889 | 561,994 | ||||||
VF | 31,812 | 2,536,053 | ||||||
Wayfair, Cl A * | 6,260 | 1,918,940 | ||||||
WW International * | 18,765 | 737,465 | ||||||
73,890,793 | ||||||||
Consumer Staples — 3.5% | ||||||||
Costco Wholesale | 15,762 | 5,962,292 | ||||||
Sprouts Farmers Market * | 21,804 | 579,986 | ||||||
6,542,278 | ||||||||
Financials — 1.5% | ||||||||
Blucora * | 33,423 | 579,555 | ||||||
LendingClub * | 35,202 | 537,887 | ||||||
LendingTree * | 2,512 | 515,588 | ||||||
Nelnet, Cl A | 7,576 | 572,140 | ||||||
SLM | 29,748 | 602,396 | ||||||
2,807,566 | ||||||||
Industrials — 3.9% | ||||||||
Avis Budget Group * | 7,619 | 669,101 | ||||||
Lyft, Cl A * | 25,978 | 1,483,084 | ||||||
Uber Technologies * | 98,459 | 5,004,671 | ||||||
7,156,856 |
45
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Millennial Consumer ETF |
Shar es | Value | |||||||
COMMON STOCK — continued | ||||||||
Information Technology — 14.7% | ||||||||
Apple | 43,657 | $ | 5,440,099 | |||||
Fiserv * | 45,862 | 5,283,302 | ||||||
Intuit | 13,844 | 6,078,762 | ||||||
PayPal Holdings * | 21,518 | 5,595,111 | ||||||
Square, Cl A * | 22,027 | 4,901,448 | ||||||
27,298,722 | ||||||||
Real Estate — 5.2% | ||||||||
AvalonBay Communities ‡ | 11,332 | 2,345,045 | ||||||
Camden Property Trust ‡ | 8,094 | 1,014,826 | ||||||
Centerspace ‡ | 8,343 | 593,938 | ||||||
Equity Residential ‡ | 30,252 | 2,343,017 | ||||||
Independence Realty Trust ‡ | 34,863 | 595,460 | ||||||
Invitation Homes ‡ | 46,022 | 1,669,218 | ||||||
UDR ‡ | 24,061 | 1,146,025 | ||||||
9,707,529 | ||||||||
TOTAL UNITED STATES | 178,880,774 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $161,399,846) | 185,117,255 | |||||||
TOTAL INVESTMENTS — 99.9% | ||||||||
(Cost $161,399,846) | $ | 185,117,255 |
Percentages are based on Net Assets of $185,241,722.
* | Non-income producing security. |
‡ | Real Estate Investment Trust |
ADR — American Depositary Receipt
Cl — Class
As of May 31, 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 period ended May 31, 2021, there were no transfers in or out of Level 3.
46
Schedule of Investments | May 31, 2021 (Unaudited) | |
Sector Weightings †:
†�� Sector weightings percentages are based on the total market value of investments.
Shares | Value | |||||||
COMMON STOCK — 99.4% | ||||||||
AUSTRALIA — 5.1% | ||||||||
Consumer Discretionary — 5.1% | ||||||||
G8 Education * | 106,034 | $ | 82,564 | |||||
IDP Education | 35,122 | 609,240 | ||||||
TOTAL AUSTRALIA | 691,804 | |||||||
BRAZIL — 2.6% | ||||||||
Consumer Discretionary — 2.6% | ||||||||
Arco Platform, Cl A * | 3,783 | 109,934 | ||||||
YDUQS Participacoes | 38,950 | 247,720 | ||||||
TOTAL BRAZIL | 357,654 | |||||||
CANADA — 1.6% | ||||||||
Information Technology — 1.6% | ||||||||
Docebo * | 4,115 | 213,210 | ||||||
CHINA — 25.9% | ||||||||
Communication Services — 0.2% | ||||||||
iHuman ADR * | 2,907 | 26,047 | ||||||
Consumer Discretionary — 25.7% | ||||||||
17 Education & Technology Group ADR * | 21,295 | 103,494 | ||||||
China East Education Holdings | 277,092 | 600,488 | ||||||
GSX Techedu ADR * | 18,257 | 338,485 | ||||||
Koolearn Technology Holding * | 125,882 | 204,356 | ||||||
New Oriental Education & Technology Group ADR * | 96,842 | 990,694 |
47
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Education ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Consumer Discretionary — continued | ||||||||
Puxin ADR * | 10,806 | $ | 20,856 | |||||
Scholar Education Group | 70,000 | 48,612 | ||||||
TAL Education Group ADR * | 25,592 | 1,022,912 | ||||||
Youdao ADR * | 4,374 | 105,195 | ||||||
3,435,092 | ||||||||
TOTAL CHINA | 3,461,139 | |||||||
JAPAN — 5.9% | ||||||||
Communication Services — 1.0% | ||||||||
Gakken Holdings | 5,569 | 68,666 | ||||||
V-Cube | 3,040 | 68,167 | ||||||
136,833 | ||||||||
Consumer Discretionary — 4.1% | ||||||||
Benesse Holdings | 12,932 | 299,855 | ||||||
Edulab * | 1,262 | 64,721 | ||||||
Media Do * | 2,036 | 102,193 | ||||||
RareJob | 1,286 | 21,107 | ||||||
Riso Kyoiku | 19,495 | 55,662 | ||||||
543,538 | ||||||||
Industrials — 0.8% | ||||||||
Insource | 5,398 | 107,101 | ||||||
TOTAL JAPAN | 787,472 | |||||||
NORWAY — 3.4% | ||||||||
Communication Services — 3.4% | ||||||||
Kahoot! * | 56,327 | 451,657 | ||||||
SOUTH KOREA — 0.6% | ||||||||
Consumer Discretionary — 0.6% | ||||||||
MegaStudyEdu | 1,481 | 87,774 |
48
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Education ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
UNITED KINGDOM — 8.2% | ||||||||
Communication Services — 8.2% | ||||||||
Pearson | 95,164 | $ | 1,103,988 | |||||
UNITED STATES — 46.1% | ||||||||
Communication Services — 6.3% | ||||||||
Bandwidth, Cl A * | 2,864 | 338,782 | ||||||
John Wiley & Sons, Cl A | 5,901 | 374,006 | ||||||
Scholastic | 4,102 | 138,155 | ||||||
850,943 | ||||||||
Consumer Discretionary — 22.3% | ||||||||
2U * | 9,381 | 341,656 | ||||||
Bright Horizons Family Solutions * | 7,675 | 1,060,915 | ||||||
Chegg * | 16,928 | 1,301,932 | ||||||
Houghton Mifflin Harcourt * | 15,848 | 157,529 | ||||||
Stride * | 5,221 | 140,340 | ||||||
3,002,372 | ||||||||
Information Technology — 17.5% | ||||||||
8x8 * | 13,472 | 317,266 | ||||||
Brightcove * | 5,003 | 72,544 | ||||||
RingCentral, Cl A * | 2,161 | 567,198 | ||||||
Slack Technologies, Cl A * | 16,729 | 736,745 | ||||||
Zoom Video Communications, Cl A * | 1,982 | 657,092 | ||||||
2,350,845 | ||||||||
TOTAL UNITED STATES | 6,204,160 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $15,753,282) | 13,358,858 | |||||||
TOTAL INVESTMENTS — 99.4% | ||||||||
(Cost $15,753,282) | $ | 13,358,858 |
Percentages are based on Net Assets of $13,438,444.
49
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Education ETF |
* | Non-income producing security. |
ADR — American Depositary Receipt
Cl — Class
As of May 31, 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 period ended May 31, 2021, there were no transfers in or out of Level 3.
50
Schedule of Investments | May 31, 2021 (Unaudited) | |
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 Notes 2 and 7 in Notes to Financial Statements for more detailed information.
Shares | Value | |||||||
COMMON STOCK — 100.0% | ||||||||
AUSTRALIA — 2.6% | ||||||||
Health Care — 2.6% | ||||||||
Cann Group * (A) | 7,756,077 | $ | 2,511,412 | |||||
Creso Pharma * (A) | 25,985,442 | 2,804,689 | ||||||
TOTAL AUSTRALIA | 5,316,101 | |||||||
CANADA — 83.0% | ||||||||
Consumer Discretionary — 2.1% | ||||||||
Fire & Flower Holdings * (A) | 4,354,158 | 3,892,790 | ||||||
Namaste Technologies * | 2,207,117 | 383,688 | ||||||
4,276,478 | ||||||||
Financials — 3.4% | ||||||||
RIV Capital * (A) | 4,573,362 | 7,003,907 | ||||||
Health Care — 77.5% | ||||||||
Aleafia Health * (A) | 10,369,552 | 3,648,228 | ||||||
Aurora Cannabis * (A) | 1,767,727 | 17,076,243 | ||||||
Auxly Cannabis Group * (A) | 23,074,930 | 7,640,705 | ||||||
Canopy Growth * | 586,470 | 15,268,611 | ||||||
Cardiol Therapeutics, Cl A * | 710,299 | 1,946,266 | ||||||
Cronos Group * | 1,938,432 | 17,346,399 | ||||||
Green Organic Dutchman Holdings * (A) | 16,918,060 | 6,652,383 | ||||||
HEXO * (A) | 2,362,377 | 16,916,029 |
51
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Cannabis ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Health Care — continued | ||||||||
MediPharm Labs * (A) | 7,666,910 | $ | 3,681,132 | |||||
Organigram Holdings * (A) | 3,353,034 | 10,658,651 | ||||||
PharmaCielo * | 3,656,015 | 4,388,429 | ||||||
Sundial Growers * | 18,301,310 | 17,752,271 | ||||||
Supreme Cannabis * (A) | 21,097,431 | 6,199,990 | ||||||
Tetra Bio-Pharma * (A) | 11,318,859 | 3,466,869 | ||||||
Tilray, Cl 2 * (A) | 861,629 | 14,363,355 | ||||||
Valens * (A) | 3,087,485 | 8,817,734 | ||||||
Zenabis Global * | 25,787,169 | 3,095,314 | ||||||
158,918,609 | ||||||||
TOTAL CANADA | 170,198,994 | |||||||
UNITED STATES — 14.4% | ||||||||
Health Care — 14.4% | ||||||||
cbdMD * (A) | 945,662 | 2,865,356 | ||||||
Charlottes Web Holdings * (A) | 2,207,905 | 10,765,365 | ||||||
Corbus Pharmaceuticals Holdings * | 4,009,680 | 8,701,006 | ||||||
Zynerba Pharmaceuticals * | 1,298,547 | 7,375,747 | ||||||
TOTAL UNITED STATES | 29,707,474 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $219,176,278) | 205,222,569 | |||||||
SHORT-TERM INVESTMENT(B)(C) — 10.7% | ||||||||
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010% | ||||||||
(Cost $21,971,004) | 21,971,004 | 21,971,004 |
52
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Cannabis ETF |
Face Amount | Value | |||||||
REPURCHASE AGREEMENT(B) — 10.3% | ||||||||
BNP Paribas | ||||||||
0.000%, dated 05/28/2021, to be repurchased on 06/01/2021, repurchase price $21,079,306 (collateralized by U.S. Treasury Obligations, ranging in par value $418,207 - $3,040,477, 2.000%, 10/31/2022, with a total market value of $21,490,561) | ||||||||
(Cost $21,079,306) | $ | 21,079,306 | $ | 21,079,306 | ||||
TOTAL INVESTMENTS — 121.0% | ||||||||
(Cost $262,226,588) | $ | 248,272,879 |
Percentages are based on Net Assets of $205,162,620.
* | Non-income producing security. |
(A) | This security or a partial position of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $44,029,214. |
(B) | Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2021 was $43,050,310. |
(C) | The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2021. |
Cl — Class
The following is a summary of the level of inputs used as of May 31, 2021, in valuing the Fund’s investments carried at value:
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | 205,222,569 | $ | — | $ | — | $ | 205,222,569 | ||||||||
Short-Term Investment | 21,971,004 | — | — | 21,971,004 | ||||||||||||
Repurchase Agreement | — | 21,079,306 | — | 21,079,306 | ||||||||||||
Total Investments in Securities | $ | 227,193,573 | $ | 21,079,306 | $ | — | $ | 248,272,879 |
For the period ended May 31, 2021, there were no transfers in or out of Level 3.
53
Schedule of Investments | May 31, 2021 (Unaudited) | |
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 Notes 2 and 7 in Notes to Financial Statements for more detailed information.
Shares | Value | |||||||
COMMON STOCK — 100.0% | ||||||||
CHINA — 4.2% | ||||||||
Health Care — 4.2% | ||||||||
Genscript Biotech * | 2,404,418 | $ | 8,472,696 | |||||
FRANCE — 0.7% | ||||||||
Health Care — 0.7% | ||||||||
Cellectis ADR * (A) | 92,379 | 1,447,579 | ||||||
JAPAN — 1.4% | ||||||||
Health Care — 1.4% | ||||||||
Takara Bio | 102,715 | 2,789,813 | ||||||
NETHERLANDS — 1.9% | ||||||||
Health Care — 1.9% | ||||||||
ProQR Therapeutics * | 113,735 | 709,706 | ||||||
uniQure * | 85,043 | 2,953,543 | ||||||
TOTAL NETHERLANDS | 3,663,249 | |||||||
SWITZERLAND — 3.7% | ||||||||
Health Care — 3.7% | ||||||||
CRISPR Therapeutics * | 63,802 | 7,540,120 | ||||||
UNITED STATES — 88.1% | ||||||||
Health Care — 88.1% | ||||||||
Adverum Biotechnologies * | 200,321 | 693,111 |
54
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Genomics & Biotechnology ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Health Care — continued | ||||||||
Agilent Technologies | 64,174 | $ | 8,864,354 | |||||
Allogene Therapeutics * | 158,233 | 4,066,588 | ||||||
Alnylam Pharmaceuticals * | 60,270 | 8,557,737 | ||||||
Arrowhead Pharmaceuticals * | 113,872 | 8,267,107 | ||||||
BioMarin Pharmaceutical * | 107,506 | 8,310,214 | ||||||
Bluebird Bio * | 148,039 | 4,606,974 | ||||||
Blueprint Medicines * | 88,936 | 8,124,304 | ||||||
CareDx * | 107,516 | 8,644,286 | ||||||
Dicerna Pharmaceuticals * | 151,689 | 4,945,061 | ||||||
Editas Medicine, Cl A * | 148,817 | 5,052,337 | ||||||
Gilead Sciences | 67,075 | 4,434,328 | ||||||
Homology Medicines * | 92,079 | 611,405 | ||||||
Illumina * | 10,651 | 4,320,472 | ||||||
Intellia Therapeutics * | 101,372 | 7,596,818 | ||||||
Invitae * (A) | 235,892 | 6,788,972 | ||||||
Luminex | 98,589 | 3,636,948 | ||||||
Myriad Genetics * | 164,512 | 4,713,269 | ||||||
NanoString Technologies * | 100,069 | 5,552,829 | ||||||
Natera * | 76,443 | 7,196,344 | ||||||
Pacific Biosciences of California * | 257,127 | 6,955,285 | ||||||
Precision BioSciences * | 101,538 | 1,069,195 | ||||||
QIAGEN * | 177,475 | 8,760,166 | ||||||
REGENXBIO * | 81,377 | 2,870,167 | ||||||
Rocket Pharmaceuticals * | 130,158 | 5,531,715 | ||||||
Sangamo Therapeutics * | 264,894 | 2,855,557 | ||||||
Sarepta Therapeutics * | 123,491 | 9,342,094 | ||||||
Sorrento Therapeutics * (A) | 584,931 | 4,398,681 | ||||||
Ultragenyx Pharmaceutical * | 75,319 | 7,660,696 | ||||||
Veracyte * | 148,311 | 5,791,545 | ||||||
Vertex Pharmaceuticals * | 20,248 | 4,224,340 | ||||||
Voyager Therapeutics * | 126,980 | 540,935 | ||||||
WaVe Life Sciences * | 103,900 | 710,676 | ||||||
ZIOPHARM Oncology * (A) | 433,899 | 1,319,053 |
55
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Genomics & Biotechnology ETF |
Shares/Face Amount | Value | |||||||
COMMON STOCK — continued | ||||||||
TOTAL UNITED STATES | $ | 177,013,563 | ||||||
TOTAL COMMON STOCK | ||||||||
(Cost $208,596,673) | 200,927,020 | |||||||
SHORT-TERM INVESTMENT(B)(C) — 1.9% | ||||||||
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010% | ||||||||
(Cost $3,893,781) | 3,893,781 | 3,893,781 | ||||||
REPURCHASE AGREEMENT(B) — 1.9% | ||||||||
BNP Paribas | ||||||||
0.000%, dated 05/28/2021, to be repurchased on 06/01/2021, repurchase price $3,735,751 (collateralized by U.S. Treasury Obligations, ranging in par value $74,116 - $538,844, 2.000%, 10/31/2022, with a total market value of $3,808,633) | ||||||||
(Cost $3,735,751) | $ | 3,735,751 | 3,735,751 | |||||
TOTAL INVESTMENTS — 103.8% | ||||||||
(Cost $216,226,205) | $ | 208,556,552 |
Percentages are based on Net Assets of $201,012,748.
* | Non-income producing security. |
(A) | This security or a partial position of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $7,336,461. |
(B) | Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2021 was $7,629,532. |
(C) | The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2021. |
ADR — American Depositary Receipt
Cl — Class
56
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Genomics & Biotechnology ETF |
The following is a summary of the level of inputs used as of May 31, 2021, in valuing the Fund’s investments carried at value:
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | 200,927,020 | $ | — | $ | — | $ | 200,927,020 | ||||||||
Short-Term Investment | 3,893,781 | — | — | 3,893,781 | ||||||||||||
Repurchase Agreement | — | 3,735,751 | — | 3,735,751 | ||||||||||||
Total Investments in Securities | $ | 204,820,801 | $ | 3,735,751 | $ | — | $ | 208,556,552 |
For the period ended May 31, 2021, there were no transfers in or out of Level 3.
57
Schedule of Investments | May 31, 2021 (Unaudited) | |
Sector Weightings †:
† Sector weightings percentages are based on the total market value of investments.
Shares | Value | |||||||
COMMON STOCK — 99.8% | ||||||||
CHINA — 95.2% | ||||||||
Consumer Staples — 4.0% | ||||||||
Fu Jian Anjoy Foods, Cl A | 6,200 | $ | 241,877 | |||||
Fujian Aonong Biological Technology Group, Cl A | 15,320 | 25,475 | ||||||
267,352 | ||||||||
Health Care — 91.2% | ||||||||
3SBio * | 75,100 | 86,116 | ||||||
Alphamab Oncology * | 22,000 | 56,237 | ||||||
Anhui Anke Biotechnology Group, Cl A | 84,780 | 200,218 | ||||||
Ascentage Pharma Group International * | 7,300 | 44,299 | ||||||
BeiGene ADR * | 1,489 | 533,821 | ||||||
Beijing SL Pharmaceutical, Cl A | 28,700 | 51,465 | ||||||
Beijing Tiantan Biological Products, Cl A | 32,157 | 174,002 | ||||||
Beijing Wantai Biological Pharmacy Enterprise, Cl A | 3,640 | 123,949 | ||||||
Berry Genomics, Cl A * | 9,555 | 51,762 | ||||||
BGI Genomics, Cl A | 14,738 | 287,262 | ||||||
Changchun High & New Technology Industry Group, Cl A | 6,774 | 425,469 | ||||||
Da An Gene of Sun Yat-Sen University, Cl A | 44,480 | 151,771 | ||||||
Genscript Biotech * | 55,950 | 197,157 | ||||||
Getein Biotech, Cl A | 6,400 | 31,756 | ||||||
Guangdong Hybribio Biotech, Cl A | 15,142 | 71,948 | ||||||
Guanhao Biotech, Cl A * | 13,600 | 48,305 | ||||||
Hualan Biological Engineering, Cl A | 42,600 | 267,032 | ||||||
Jinyu Bio-Technology, Cl A | 46,800 | 148,884 | ||||||
Joinn Laboratories China, Cl A | 4,500 | 115,989 | ||||||
JW Cayman Therapeutics * | 10,500 | 38,826 |
58
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X China Biotech Innovation ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Health Care — continued | ||||||||
Kintor Pharmaceutical * | 7,700 | $ | 67,759 | |||||
PharmaBlock Sciences Nanjing, Cl A | 7,981 | 178,180 | ||||||
Shanghai Haohai Biological Technology, Cl A | 1,106 | 31,920 | ||||||
Shanghai RAAS Blood Products, Cl A | 126,900 | 150,642 | ||||||
Shenzhen Kangtai Biological Products, Cl A | 20,071 | 532,369 | ||||||
Shenzhen Neptunus Bioengineering, Cl A * | 73,300 | 39,018 | ||||||
Shenzhen Weiguang Biological Products, Cl A | 2,700 | 21,936 | ||||||
Sichuan Kelun Pharmaceutical, Cl A | 42,800 | 148,861 | ||||||
Viva Biotech Holdings | 44,900 | 61,089 | ||||||
Walvax Biotechnology, Cl A | 55,200 | 588,535 | ||||||
Wuxi Biologics Cayman * | 36,950 | 547,954 | ||||||
Zai Lab ADR * | 1,665 | 295,804 | ||||||
Zhejiang Wolwo Bio-Pharmaceutical, Cl A | 26,300 | 279,209 | ||||||
6,049,544 | ||||||||
TOTAL CHINA | 6,316,896 | |||||||
HONG KONG — 4.6% | ||||||||
Health Care — 4.6% | ||||||||
Sino Biopharmaceutical | 272,900 | 302,382 | ||||||
TOTAL COMMON STOCK | ||||||||
(Cost $5,768,522) | 6,619,278 | |||||||
TOTAL INVESTMENTS — 99.8% | ||||||||
(Cost $5,768,522) | $ | 6,619,278 |
Percentages are based on Net Assets of $6,632,105.
* | Non-income producing security. |
ADR — American Depositary Receipt
Cl — Class
As of May 31, 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 period ended May 31, 2021, there were no transfers in or out of Level 3.
59
Schedule of Investments | May 31, 2021 (Unaudited) | |
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 Notes 2 and 7 in Notes to Financial Statements for more detailed information.
Shares | Value | |||||||
COMMON STOCK — 99.9% | ||||||||
CHINA — 11.4% | ||||||||
Consumer Discretionary — 3.7% | ||||||||
JD Health International * | 1,980,100 | $ | 27,144,578 | |||||
Health Care — 7.7% | ||||||||
Alibaba Health Information Technology * | 10,349,000 | 25,627,492 | ||||||
Ping An Healthcare and Technology * | 2,666,500 | 30,627,904 | ||||||
56,255,396 | ||||||||
TOTAL CHINA | 83,399,974 | |||||||
GERMANY — 2.0% | ||||||||
Health Care — 2.0% | ||||||||
CompuGroup Medical & KgaA | 177,319 | 14,601,623 | ||||||
JAPAN — 4.1% | ||||||||
Health Care — 4.1% | ||||||||
M3 | 447,925 | 30,184,789 | ||||||
UNITED STATES — 82.4% | ||||||||
Consumer Staples — 0.4% | ||||||||
LifeMD * (A) | 241,898 | 3,115,646 |
60
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Telemedicine & Digital Health ETF |
�� | Shares | Value | ||||||
COMMON STOCK — continued | ||||||||
Financials — 1.1% | ||||||||
eHealth * | 119,731 | $ | 7,812,448 | |||||
Health Care — 76.6% | ||||||||
1Life Healthcare * | 691,388 | 25,581,356 | ||||||
Agilent Technologies | 237,409 | 32,793,305 | ||||||
Allscripts Healthcare Solutions * | 886,674 | 15,419,261 | ||||||
American Well, Cl A * | 1,000,937 | 12,461,666 | ||||||
Cerner | 426,946 | 33,408,524 | ||||||
Change Healthcare * | 1,380,695 | 32,363,491 | ||||||
Computer Programs and Systems * | 89,291 | 2,890,350 | ||||||
DarioHealth * (A) | 107,818 | 1,754,199 | ||||||
DexCom * | 75,528 | 27,899,288 | ||||||
Evolent Health, Cl A * | 554,149 | 10,767,115 | ||||||
GoodRx Holdings, Cl A * (A) | 373,462 | 13,859,175 | ||||||
Guardant Health * | 195,621 | 24,280,479 | ||||||
Illumina * | 78,905 | 32,007,024 | ||||||
Inovalon Holdings, Cl A * | 482,512 | 15,131,576 | ||||||
Invitae * (A) | 877,054 | 25,241,614 | ||||||
iRhythm Technologies * | 186,896 | 14,103,172 | ||||||
Laboratory Corp of America Holdings * | 121,836 | 33,441,545 | ||||||
NextGen Healthcare * | 352,670 | 5,790,841 | ||||||
Omnicell * | 224,570 | 31,215,230 | ||||||
Ontrak * (A) | 71,845 | 2,182,651 | ||||||
OptimizeRx * | 92,505 | 4,543,846 | ||||||
Personalis * | 226,183 | 5,086,856 | ||||||
Phreesia * | 280,700 | 13,894,650 | ||||||
R1 RCM * | 767,784 | 17,774,200 | ||||||
Signify Health, Cl A * | 408,036 | 10,323,311 | ||||||
SmileDirectClub, Cl A * (A) | 669,940 | 5,500,207 | ||||||
SOC Telemed, Cl A * (A) | 317,096 | 1,902,576 | ||||||
Tabula Rasa HealthCare * (A) | 145,343 | 6,280,271 | ||||||
Tandem Diabetes Care * | 335,135 | 28,617,178 | ||||||
Teladoc Health * | 172,568 | 25,985,289 | ||||||
UnitedHealth Group | 81,122 | 33,415,774 |
61
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Telemedicine & Digital Health ETF |
Shares/Face Amount | Value | |||||||
COMMON STOCK — continued | ||||||||
Health Care — continued | ||||||||
Veracyte * | 431,848 | $ | 16,863,664 | |||||
562,779,684 | ||||||||
Information Technology — 4.3% | ||||||||
Nuance Communications * | 602,725 | 31,884,152 | ||||||
TOTAL UNITED STATES | 605,591,930 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $714,374,466) | 733,778,316 | |||||||
SHORT-TERM INVESTMENT(B)(C) — 2.1% | ||||||||
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010% | ||||||||
(Cost $15,298,641) | 15,298,641 | 15,298,641 | ||||||
REPURCHASE AGREEMENT(B) — 2.0% | ||||||||
BNP Paribas | ||||||||
0.000%, dated 05/28/2021, to be repurchased on 06/01/2021, repurchase price $14,677,742 (collateralized by U.S. Treasury Obligations, ranging in par value $291,202 - $2,117,116, 2.000%, 10/31/2022, with a total market value of $14,964,103) | ||||||||
(Cost $14,677,742) | $ | 14,677,742 | 14,677,742 | |||||
TOTAL INVESTMENTS — 104.0% | ||||||||
(Cost $744,350,849) | $ | 763,754,699 |
Percentages are based on Net Assets of $734,709,380.
* | Non-income producing security. |
(A) | This security or a partial position of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $29,099,220. |
62
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Telemedicine & Digital Health ETF |
(B) | Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2021 was $29,976,383. |
(C) | The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2021. |
Cl — Class
The following is a summary of the level of inputs used as of May 31, 2021, in valuing the Fund’s investments carried at value:
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | 733,778,316 | $ | — | $ | — | $ | 733,778,316 | ||||||||
Short-Term Investment | 15,298,641 | — | — | 15,298,641 | ||||||||||||
Repurchase Agreement | — | 14,677,742 | — | 14,677,742 | ||||||||||||
Total Investments in Securities | $ | 749,076,957 | $ | 14,677,742 | $ | — | $ | 763,754,699 |
For the period ended May 31, 2021, there were no transfers in or out of Level 3.
63
Schedule of Investments | May 31, 2021 (Unaudited) | |
Sector Weightings †:
† Sector weightings percentages are based on the total market value of investments.
Shares | Value | |||||||
COMMON STOCK — 99.7% | ||||||||
AUSTRALIA — 0.6% | ||||||||
Health Care — 0.6% | ||||||||
Cochlear | 1,621 | $ | 281,472 | |||||
BELGIUM — 1.3% | ||||||||
Health Care — 1.0% | ||||||||
UCB | 4,805 | 451,398 | ||||||
Real Estate — 0.3% | ||||||||
Aedifica ‡ | 1,045 | 135,316 | ||||||
TOTAL BELGIUM | 586,714 | |||||||
CANADA — 0.3% | ||||||||
Health Care — 0.3% | ||||||||
Chartwell Retirement Residences | 12,785 | 138,857 | ||||||
�� | ||||||||
CHINA — 5.9% | ||||||||
Health Care — 5.9% | ||||||||
AK Medical Holdings | 91,600 | 163,574 | ||||||
BeiGene ADR * | 2,312 | 828,875 | ||||||
Beijing Chunlizhengda Medical Instruments, Cl H * | 50,300 | 174,655 | ||||||
Hansoh Pharmaceutical Group | 147,000 | 626,902 | ||||||
Lifetech Scientific * | 254,200 | 157,207 | ||||||
Luye Pharma Group * | 221,547 | 150,143 | ||||||
Microport Scientific | 44,800 | 349,211 | ||||||
Venus MedTech Hangzhou, Cl H * | 14,700 | 131,157 | ||||||
TOTAL CHINA | 2,581,724 |
64
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Aging Population ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
DENMARK — 6.2% | ||||||||
Health Care — 6.2% | ||||||||
Demant * | 5,961 | $ | 318,416 | |||||
Genmab * | 1,627 | 664,941 | ||||||
GN Store Nord | 3,526 | 299,761 | ||||||
Novo Nordisk, Cl B | 18,587 | 1,469,490 | ||||||
TOTAL DENMARK | 2,752,608 | |||||||
FRANCE — 0.8% | ||||||||
Health Care — 0.8% | ||||||||
Korian | 3,303 | 120,867 | ||||||
Orpea | 1,590 | 199,786 | ||||||
TOTAL FRANCE | 320,653 | |||||||
GERMANY — 1.2% | ||||||||
Health Care — 1.2% | ||||||||
Fresenius Medical Care & KGaA | 7,404 | 593,279 | ||||||
IRELAND — 0.2% | ||||||||
Health Care — 0.2% | ||||||||
Amarin ADR * | 20,779 | 94,337 | ||||||
ITALY — 0.6% | ||||||||
Health Care — 0.6% | ||||||||
Amplifon | 5,607 | 263,575 | ||||||
JAPAN — 6.8% | ||||||||
Health Care — 6.8% | ||||||||
Astellas Pharma | 46,954 | 751,648 | ||||||
Chugai Pharmaceutical | 32,209 | 1,223,927 | ||||||
Kissei Pharmaceutical | 5,880 | 114,365 | ||||||
Nipro | 11,346 | 140,516 | ||||||
Terumo | 19,203 | 744,023 | ||||||
65
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Aging Population ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
TOTAL JAPAN | $ | 2,974,479 | ||||||
NEW ZEALAND — 0.3% | ||||||||
Health Care — 0.3% | ||||||||
Ryman Healthcare | 12,215 | 115,658 | ||||||
SOUTH KOREA — 1.9% | ||||||||
Health Care — 1.9% | ||||||||
Celltrion * | 3,467 | 850,197 | ||||||
SPAIN — 0.2% | ||||||||
Health Care — 0.2% | ||||||||
Pharma Mar | 1,079 | 100,603 | ||||||
SWEDEN — 0.3% | ||||||||
Health Care — 0.3% | ||||||||
Elekta, Cl B | 9,133 | 126,375 | ||||||
SWITZERLAND — 7.9% | ||||||||
Health Care — 7.9% | ||||||||
Alcon | 12,582 | 878,454 | ||||||
Roche Holding | 3,689 | 1,394,365 | ||||||
Sonova Holding | 1,604 | 568,319 | ||||||
Straumann Holding | 397 | 621,932 | ||||||
TOTAL SWITZERLAND | 3,463,070 | |||||||
UNITED KINGDOM — 4.6% | ||||||||
Health Care — 4.6% | ||||||||
AstraZeneca ADR | 26,011 | 1,476,645 | ||||||
Smith & Nephew | 21,715 | 474,301 | ||||||
TOTAL UNITED KINGDOM | 1,950,946 |
66
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Aging Population ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
UNITED STATES — 60.6% | ||||||||
Health Care — 56.2% | ||||||||
AbbVie | 12,134 | $ | 1,373,568 | |||||
ABIOMED * | 1,120 | 318,730 | ||||||
ACADIA Pharmaceuticals * | 6,050 | 135,157 | ||||||
Aerie Pharmaceuticals * | 6,588 | 107,319 | ||||||
Agios Pharmaceuticals * | 2,365 | 131,920 | ||||||
Alector * | 6,363 | 113,261 | ||||||
Alphatec Holdings * | 7,196 | 104,342 | ||||||
Amedisys * | 810 | 209,280 | ||||||
Amgen | 5,212 | 1,240,143 | ||||||
AngioDynamics * | 5,174 | 119,623 | ||||||
Arena Pharmaceuticals * | 1,883 | 115,070 | ||||||
Biogen * | 3,832 | 1,024,983 | ||||||
Bluebird Bio * | 4,332 | 134,812 | ||||||
Blueprint Medicines * | 1,419 | 129,626 | ||||||
Boston Scientific * | 33,244 | 1,414,533 | ||||||
Bristol-Myers Squibb | 20,792 | 1,366,450 | ||||||
Brookdale Senior Living * | 17,968 | 121,104 | ||||||
DaVita * | 2,742 | 329,232 | ||||||
Denali Therapeutics * | 2,966 | 188,608 | ||||||
DexCom * | 2,434 | 899,095 | ||||||
Edwards Lifesciences * | 15,296 | 1,466,887 | ||||||
Eli Lilly | 7,053 | 1,408,766 | ||||||
Ensign Group | 1,350 | 112,320 | ||||||
Epizyme * | 14,849 | 122,207 | ||||||
Exact Sciences * | 4,192 | 463,342 | ||||||
Exelixis * | 7,660 | 172,733 | ||||||
FibroGen * | 6,651 | 141,334 | ||||||
Glaukos * | 1,474 | 108,457 | ||||||
Halozyme Therapeutics * | 3,545 | 146,798 | ||||||
Heron Therapeutics * | 7,244 | 96,128 | ||||||
Incyte * | 5,430 | 454,925 |
67
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Aging Population ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Health Care — continued | ||||||||
Inogen * | 2,389 | $ | 147,664 | |||||
Insulet * | 1,638 | 441,719 | ||||||
Integer Holdings * | 1,373 | 124,215 | ||||||
Johnson & Johnson | 7,900 | 1,337,075 | ||||||
LHC Group * | 780 | 153,543 | ||||||
LivaNova * | 1,567 | 130,907 | ||||||
MannKind * | 28,952 | 127,968 | ||||||
Medtronic | 10,668 | 1,350,463 | ||||||
Merit Medical Systems * | 2,089 | 126,050 | ||||||
National HealthCare | 1,651 | 120,870 | ||||||
Neurocrine Biosciences * | 2,313 | 222,557 | ||||||
Novocure * | 2,539 | 517,956 | ||||||
NuVasive * | 1,856 | 126,579 | ||||||
Omeros * | 7,067 | 107,348 | ||||||
Pennant Group * | 2,841 | 97,361 | ||||||
Radius Health * | 6,292 | 121,373 | ||||||
Regeneron Pharmaceuticals * | 2,703 | 1,358,068 | ||||||
Seagen * | 4,575 | 710,726 | ||||||
Silk Road Medical * | 2,514 | 122,130 | ||||||
Stryker | 5,152 | �� | 1,315,151 | |||||
Tactile Systems Technology * | 2,412 | 129,693 | ||||||
Teleflex | 1,184 | 476,193 | ||||||
Theravance Biopharma * | 5,744 | 99,256 | ||||||
United Therapeutics * | 1,093 | 203,189 | ||||||
Zimmer Biomet Holdings | 5,248 | 883,396 | ||||||
24,822,203 | ||||||||
Real Estate — 4.4% | ||||||||
Diversified Healthcare Trust ‡ | 25,962 | 94,242 | ||||||
LTC Properties ‡ | 2,864 | 112,212 | ||||||
National Health Investors ‡ | 1,674 | 110,333 | ||||||
Omega Healthcare Investors ‡ | 5,695 | 208,551 | ||||||
Sabra Health Care ‡ | 6,764 | 118,167 | ||||||
Ventas ‡ | 9,102 | 504,706 |
68
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Aging Population ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Real Estate — continued | ||||||||
Welltower ‡ | 10,517 | $ | 786,356 | |||||
1,934,567 | ||||||||
TOTAL UNITED STATES | 26,756,770 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $40,617,608) | 43,951,317 | |||||||
TOTAL INVESTMENTS — 99.7% | ||||||||
(Cost $40,617,608) | $ | 43,951,317 |
Percentages are based on Net Assets of $44,074,503.
* | Non-income producing security. |
‡ | Real Estate Investment Trust |
ADR — American Depositary Receipt
Cl — Class
As of May 31, 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 period ended May 31, 2021, there were no transfers in or out of Level 3.
69
Schedule of Investments | May 31, 2021 (Unaudited) | |
Sector Weightings †:
† Sector weightings percentages are based on the total market value of investments.
Shares | Value | |||||||
COMMON STOCK — 99.8% | ||||||||
AUSTRALIA — 0.4% | ||||||||
Consumer Staples — 0.4% | ||||||||
Blackmores | 2,307 | $ | 123,416 | |||||
CANADA — 2.6% | ||||||||
Consumer Discretionary — 2.6% | ||||||||
Gildan Activewear | 23,723 | 858,191 | ||||||
CHINA — 10.6% | ||||||||
Consumer Discretionary — 10.6% | ||||||||
ANTA Sports Products | 53,644 | 1,081,657 | ||||||
Li Ning | 130,714 | 1,202,470 | ||||||
Topsports International Holdings | 621,870 | 963,071 | ||||||
Xtep International Holdings | 304,001 | 334,101 | ||||||
TOTAL CHINA | 3,581,299 | |||||||
FRANCE — 2.8% | ||||||||
Consumer Staples — 2.8% | ||||||||
Danone | 12,977 | 924,128 | ||||||
GERMANY — 6.0% | ||||||||
Consumer Discretionary — 6.0% | ||||||||
adidas | 2,818 | 1,027,589 | ||||||
Puma | 8,651 | 988,692 | ||||||
TOTAL GERMANY | 2,016,281 | |||||||
70
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Health & Wellness ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
HONG KONG — 1.7% | ||||||||
Consumer Discretionary — 1.7% | ||||||||
Huayi Tencent Entertainment * | 1,601,851 | $ | 76,362 | |||||
Yue Yuen Industrial Holdings * | 192,591 | 502,476 | ||||||
TOTAL HONG KONG | 578,838 | |||||||
IRELAND — 1.8% | ||||||||
Consumer Staples — 1.8% | ||||||||
Glanbia | 34,834 | 580,906 | ||||||
ITALY — 0.9% | ||||||||
Consumer Discretionary — 0.9% | ||||||||
Technogym | 24,040 | 304,849 | ||||||
JAPAN — 12.7% | ||||||||
Consumer Discretionary — 8.2% | ||||||||
ABC-Mart | 9,861 | 566,688 | ||||||
Asics | 22,681 | 544,468 | ||||||
Curves Holdings | 11,160 | 89,300 | ||||||
Descente | 9,165 | 158,924 | ||||||
Fast Fitness Japan | 2,336 | 126,385 | ||||||
Goldwin | 5,665 | 315,252 | ||||||
Shimano | 3,859 | 879,175 | ||||||
2,680,192 | ||||||||
Consumer Staples — 3.6% | ||||||||
Ariake Japan | 3,918 | 228,008 | ||||||
Yakult Honsha | 18,267 | 986,643 | ||||||
1,214,651 | ||||||||
Health Care — 0.9% | ||||||||
Tsumura | 9,164 | 297,064 | ||||||
TOTAL JAPAN | 4,191,907 |
71
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Health & Wellness ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
NETHERLANDS — 1.0% | ||||||||
Consumer Discretionary — 1.0% | ||||||||
Basic-Fit * | 7,169 | $ | 344,774 | |||||
SOUTH KOREA — 2.2% | ||||||||
Consumer Discretionary — 2.2% | ||||||||
Fila Holdings | 7,250 | 356,877 | ||||||
Hwaseung Enterprise | 7,205 | 121,774 | ||||||
Youngone | 5,285 | 225,085 | ||||||
TOTAL SOUTH KOREA | 703,736 | |||||||
TAIWAN — 7.9% | ||||||||
Consumer Discretionary — 7.9% | ||||||||
Dyaco International | 23,013 | 75,160 | ||||||
Feng TAY Enterprise | 105,081 | 928,060 | ||||||
Fulgent Sun International Holding | 22,765 | 101,349 | ||||||
Giant Manufacturing | 44,858 | 538,480 | ||||||
Johnson Health Tech | 35,901 | 103,146 | ||||||
Merida Industry | 35,560 | 411,484 | ||||||
Pou Chen | 351,886 | 485,198 | ||||||
TOTAL TAIWAN | 2,642,877 | |||||||
UNITED KINGDOM — 4.7% | ||||||||
Consumer Discretionary — 4.7% | ||||||||
Frasers Group * | 62,053 | 509,417 | ||||||
JD Sports Fashion | 77,452 | 1,037,980 | ||||||
TOTAL UNITED KINGDOM | 1,547,397 | |||||||
UNITED STATES — 44.5% | ||||||||
Consumer Discretionary — 27.0% | ||||||||
Columbia Sportswear | 7,935 | 815,163 | ||||||
Dick’s Sporting Goods | 7,831 | 763,757 | ||||||
Foot Locker | 12,344 | 781,252 |
72
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Health & Wellness ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Consumer Discretionary — continued | ||||||||
Hibbett Sports * | 1,928 | $ | 163,417 | |||||
Lululemon Athletica * | 2,965 | 958,080 | ||||||
Nautilus * | 5,354 | 96,426 | ||||||
NIKE, Cl B | 6,935 | 946,350 | ||||||
Peloton Interactive, Cl A * | 7,500 | 827,324 | ||||||
Planet Fitness, Cl A * | 9,937 | 782,738 | ||||||
Shoe Carnival | 1,678 | 113,282 | ||||||
Skechers USA, Cl A * | 16,349 | 776,578 | ||||||
Under Armour, Cl A * | 22,544 | 509,044 | ||||||
VF | 11,164 | 889,994 | ||||||
WW International * | 8,269 | 324,972 | ||||||
Zumiez * | 3,050 | 133,651 | ||||||
8,882,028 | ||||||||
Consumer Staples — 12.6% | ||||||||
BellRing Brands, Cl A * | 4,703 | 134,882 | ||||||
Calavo Growers | 2,112 | 150,374 | ||||||
Cal-Maine Foods | 5,259 | 183,592 | ||||||
Celsius Holdings * | 8,676 | 568,625 | ||||||
Hain Celestial Group * | 11,942 | 486,756 | ||||||
Herbalife Nutrition * | 14,126 | 742,603 | ||||||
Medifast | 1,402 | 465,815 | ||||||
Nu Skin Enterprises, Cl A | 6,074 | 365,412 | ||||||
Sanderson Farms | 2,672 | 434,868 | ||||||
Sprouts Farmers Market * | 14,092 | 374,847 | ||||||
USANA Health Sciences * | 2,463 | 260,438 | ||||||
4,168,212 | ||||||||
Health Care — 4.1% | ||||||||
DexCom * | 2,455 | 906,852 | ||||||
Prestige Consumer Healthcare * | 5,955 | 296,976 | ||||||
Tivity Health * | 5,863 | 153,611 | ||||||
1,357,439 |
73
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Health & Wellness ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Industrials — 0.8% | ||||||||
Healthcare Services Group | 8,917 | $ | 267,421 | |||||
TOTAL UNITED STATES | 14,675,100 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $28,170,100) | 33,073,699 | |||||||
TOTAL INVESTMENTS — 99.8% | ||||||||
(Cost $28,170,100) | $ | 33,073,699 |
Percentages are based on Net Assets of $33,133,293.
* | Non-income producing security. |
Cl — Class
As of May 31, 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 period ended May 31, 2021, there were no transfers in or out of Level 3.
74
Schedule of Investments | May 31, 2021 (Unaudited) | |
Sector Weightings †:
† Sector weightings percentages are based on the total market value of investments.
Shares | Value | |||||||
COMMON STOCK — 100.3% | ||||||||
CANADA — 4.0% | ||||||||
Industrials — 2.7% | ||||||||
Ballard Power Systems * | 210,330 | $ | 3,642,916 | |||||
Information Technology — 1.3% | ||||||||
Canadian Solar * | 42,215 | 1,670,870 | ||||||
TOTAL CANADA | 5,313,786 | |||||||
CHINA — 17.4% | ||||||||
Industrials — 2.9% | ||||||||
China Everbright Environment Group | 4,343,000 | 2,590,748 | ||||||
Dongfang Electric, Cl H | 498,300 | 452,621 | ||||||
Xinjiang Goldwind Science & Technology, Cl H | 544,700 | 909,529 | ||||||
3,952,898 | ||||||||
Information Technology — 14.5% | ||||||||
Daqo New Energy ADR * | 49,189 | 3,658,678 | ||||||
Flat Glass Group, Cl H | 313,600 | 884,860 | ||||||
GCL-Poly Energy Holdings *(A)(B)(C) | 20,561,800 | 4,532,524 | ||||||
JinkoSolar Holding ADR * | 31,950 | 1,169,690 | ||||||
Xinyi Solar Holdings | 5,057,800 | 8,979,769 | ||||||
19,225,521 | ||||||||
TOTAL CHINA | 23,178,419 |
75
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X CleanTech ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
DENMARK — 7.4% | ||||||||
Industrials — 7.4% | ||||||||
Vestas Wind Systems | 247,577 | $ | 9,684,331 | |||||
GERMANY — 5.7% | ||||||||
Industrials — 4.7% | ||||||||
Nordex * | 82,950 | 1,901,670 | ||||||
Varta * | 28,626 | 4,355,342 | ||||||
6,257,012 | ||||||||
Information Technology — 1.0% | ||||||||
SMA Solar Technology | 24,446 | 1,363,273 | ||||||
TOTAL GERMANY | 7,620,285 | |||||||
NETHERLANDS — 1.0% | ||||||||
Industrials — 1.0% | ||||||||
Alfen Beheer BV * | 15,356 | 1,326,244 | ||||||
NORWAY — 1.7% | ||||||||
Industrials — 1.7% | ||||||||
NEL, Cl A * | 1,030,503 | 2,255,694 | ||||||
SOUTH KOREA — 13.7% | ||||||||
Industrials — 2.8% | ||||||||
CS Wind | 29,775 | 2,055,658 | ||||||
Doosan Fuel Cell * | 46,277 | 1,773,820 | ||||||
3,829,478 | ||||||||
Information Technology — 6.8% | ||||||||
Samsung SDI | 15,626 | 8,966,772 | ||||||
Materials — 4.1% | ||||||||
Hanwha Solutions * | 135,412 | 5,493,942 | ||||||
TOTAL SOUTH KOREA | 18,290,192 |
76
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X CleanTech ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
SPAIN — 6.5% | ||||||||
Industrials — 6.5% | ||||||||
Siemens Gamesa Renewable Energy * | 261,678 | $ | 8,641,634 | |||||
SWEDEN — 0.7% | ||||||||
Industrials — 0.7% | ||||||||
PowerCell Sweden * | 36,542 | 914,670 | ||||||
SWITZERLAND — 1.1% | ||||||||
Information Technology — 1.1% | ||||||||
Landis+Gyr Group | 20,351 | 1,483,279 | ||||||
TAIWAN — 1.3% | ||||||||
Information Technology — 1.3% | ||||||||
Simplo Technology | 134,864 | 1,774,494 | ||||||
UNITED KINGDOM — 7.5% | ||||||||
Industrials — 3.0% | ||||||||
Ceres Power Holdings * | 121,624 | 1,874,481 | ||||||
ITM Power * | 389,376 | 2,171,880 | ||||||
4,046,361 | ||||||||
Materials — 4.5% | ||||||||
Johnson Matthey | 137,068 | 5,919,680 | ||||||
TOTAL UNITED KINGDOM | 9,966,041 | |||||||
UNITED STATES — 32.3% | ||||||||
Consumer Discretionary — 2.4% | ||||||||
QuantumScape, Cl A * | 121,915 | 3,156,379 | ||||||
Industrials — 12.4% | ||||||||
Ameresco, Cl A * | 21,297 | 1,144,927 | ||||||
Array Technologies * | 89,797 | 1,463,691 | ||||||
Bloom Energy, Cl A * | 101,895 | 2,462,802 | ||||||
FuelCell Energy * | 228,095 | 2,239,893 |
77
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X CleanTech ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Industrials — continued | ||||||||
Plug Power * | 196,420 | $ | 6,030,094 | |||||
Shoals Technologies Group, Cl A * | 66,064 | 1,823,366 | ||||||
TPI Composites * | 25,819 | 1,247,058 | ||||||
16,411,831 | ||||||||
Information Technology — 17.5% | ||||||||
Enphase Energy * | 57,207 | 8,183,461 | ||||||
First Solar * | 75,082 | 5,714,491 | ||||||
Maxeon Solar Technologies * | 23,580 | 368,320 | ||||||
SolarEdge Technologies * | 24,006 | 6,193,788 | ||||||
SunPower, Cl A * | 120,660 | 2,822,237 | ||||||
23,282,297 | ||||||||
TOTAL UNITED STATES | 42,850,507 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $163,811,172) | 133,299,576 | |||||||
TOTAL INVESTMENTS — 100.3% | ||||||||
(Cost $163,811,172) | $ | 133,299,576 |
Percentages are based on Net Assets of $132,894,070.
* | Non-income producing security. |
(A) | Level 3 security in accordance with fair value hierarchy. |
(B) | Security considered illiquid. The total value of such securities as of May 31, 2021 was $4,532,524 and represented 3.4% of Net Assets. |
(C) | Security is fair valued using methods determined in good faith by the Fair Value Committee of the Fund. The total value of such securities as of May 31, 2021, was $4,532,524 and represents 3.4% of Net Assets. |
ADR — American Depositary Receipt
Cl — Class
78
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X CleanTech ETF |
The following is a summary of the level of inputs used as of May 31, 2021, in valuing the Fund’s investments carried at value:
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | 128,767,052 | $ | — | $ | 4,532,524 | $ | 133,299,576 | ||||||||
Total Investments in Securities | $ | 128,767,052 | $ | — | $ | 4,532,524 | $ | 133,299,576 |
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 | 4,532,524 | |||
Net purchases | − | |||
Net sales | − | |||
Realized gain/(loss) | − | |||
Change in unrealized appreciation/(depreciation) | − | |||
Ending Balance as of May 31, 2021 | $ | 4,532,524 |
79
Schedule of Investments | May 31, 2021 (Unaudited) | |
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 Notes 2 and 7 in Notes to Financial Statements for more detailed information.
Shares | Value | |||||||
COMMON STOCK — 99.8% | ||||||||
Consumer Discretionary — 0.7% | ||||||||
TopBuild * | 136,401 | $ | 27,014,218 | |||||
Industrials — 71.0% | ||||||||
Acuity Brands | 149,671 | 27,801,388 | ||||||
Advanced Drainage Systems | 290,121 | 32,905,524 | ||||||
AECOM * | 605,331 | 39,352,568 | ||||||
Altra Industrial Motion | 265,436 | 17,436,491 | ||||||
Arcosa | 197,332 | 12,530,582 | ||||||
Argan | 209,389 | 10,281,000 | ||||||
Astec Industries | 139,949 | 9,590,705 | ||||||
Atkore * | 195,257 | 15,073,840 | ||||||
Builders FirstSource * | 841,249 | 37,469,230 | ||||||
Carlisle | 220,165 | 42,342,133 | ||||||
Columbus McKinnon | 218,006 | 11,052,904 | ||||||
Construction Partners, Cl A * | 289,094 | 9,311,718 | ||||||
Crane | 237,911 | 22,718,121 | ||||||
CSW Industrials | 73,491 | 8,952,674 | ||||||
CSX | 1,026,806 | 102,803,817 | ||||||
Deere | 307,817 | 111,152,719 | ||||||
Dycom Industries * | 129,449 | 9,698,319 |
80
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X U.S. Infrastructure Development ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Industrials — continued | ||||||||
Eaton | 751,717 | $ | 109,186,894 | |||||
EMCOR Group | 225,183 | 28,397,828 | ||||||
Emerson Electric | 1,116,447 | 106,832,813 | ||||||
Exponent | 211,346 | 19,281,096 | ||||||
Fastenal | 1,952,971 | 103,585,582 | ||||||
Fortive | 1,343,243 | 97,411,982 | ||||||
Gibraltar Industries * | 135,939 | 10,800,354 | ||||||
Gorman-Rupp | 281,262 | 10,119,807 | ||||||
Graco | 687,057 | 52,023,956 | ||||||
Granite Construction | 279,475 | 11,279,611 | ||||||
Greenbrier | 255,802 | 11,360,167 | ||||||
H&E Equipment Services | 295,672 | 11,058,133 | ||||||
Herc Holdings * | 129,810 | 14,930,746 | ||||||
Howmet Aerospace * | 1,778,606 | 63,104,941 | ||||||
Hubbell, Cl B | 223,278 | 42,565,718 | ||||||
IDEX | 313,517 | 69,807,695 | ||||||
Insteel Industries | 339,135 | 11,856,160 | ||||||
Jacobs Engineering Group | 533,136 | 75,747,963 | ||||||
Kansas City Southern | 384,789 | 114,543,990 | ||||||
Lincoln Electric Holdings | 242,256 | 31,149,276 | ||||||
Manitowoc * | 621,889 | 16,057,174 | ||||||
MasTec * | 304,067 | 35,372,114 | ||||||
Matrix Service * | 702,092 | 7,652,803 | ||||||
MRC Global * | 1,274,497 | 13,688,098 | ||||||
Mueller Industries | 247,473 | 11,490,171 | ||||||
Mueller Water Products, Cl A | 756,481 | 10,946,280 | ||||||
MYR Group * | 143,700 | 12,507,648 | ||||||
Norfolk Southern | 383,193 | 107,638,914 | ||||||
Northwest Pipe * | 289,205 | 9,156,230 | ||||||
NOW * | 1,145,107 | 11,989,270 | ||||||
Parker-Hannifin | 335,184 | 103,286,950 | ||||||
Pentair | 683,328 | 47,129,132 | ||||||
Powell Industries | 306,997 | 10,548,417 |
81
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X U.S. Infrastructure Development ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Industrials — continued | ||||||||
Primoris Services | 305,310 | $ | 9,705,805 | |||||
Quanta Services | 571,135 | 54,457,722 | ||||||
RBC Bearings * | 101,578 | 19,887,957 | ||||||
Rexnord | 492,910 | 24,630,713 | ||||||
Rockwell Automation | 349,313 | 92,120,824 | ||||||
SPX * | 183,209 | 11,474,380 | ||||||
Sterling Construction * | 393,149 | 8,845,852 | ||||||
Team * | 838,275 | 7,125,337 | ||||||
Terex | 282,335 | 14,785,884 | ||||||
Tetra Tech | 221,632 | 26,478,375 | ||||||
Titan Machinery * | 416,883 | 12,789,970 | ||||||
Trane Technologies | 608,794 | 113,479,202 | ||||||
Trinity Industries | 470,577 | 13,072,629 | ||||||
Tutor Perini * | 568,427 | 8,799,250 | ||||||
Union Pacific | 452,414 | 101,670,998 | ||||||
United Rentals * | 298,267 | 99,609,247 | ||||||
Valmont Industries | 86,008 | 21,329,984 | ||||||
Wabash National | 553,080 | 8,821,626 | ||||||
WESCO International * | 206,187 | 21,973,349 | ||||||
Willdan Group * | 184,016 | 6,690,822 | ||||||
Woodward | 256,109 | 32,571,943 | ||||||
2,623,303,515 | ||||||||
Information Technology — 2.8% | ||||||||
Badger Meter | 122,029 | 11,662,311 | ||||||
Calix * | 267,528 | 11,854,166 | ||||||
Trimble * | 1,035,899 | 80,582,583 | ||||||
104,099,060 | ||||||||
Materials — 21.7% | ||||||||
Alcoa * | 764,409 | 30,324,105 | ||||||
Allegheny Technologies * | 518,763 | 12,704,506 | ||||||
Arconic * | 447,196 | 16,175,079 | ||||||
Century Aluminum * | 808,065 | 10,997,765 |
82
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X U.S. Infrastructure Development ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Materials — continued | ||||||||
Cleveland-Cliffs * (A) | 1,637,900 | $ | 32,954,548 | |||||
Commercial Metals | 490,962 | 15,450,574 | ||||||
Eagle Materials | 170,104 | 24,964,463 | ||||||
Forterra * | 448,332 | 10,482,002 | ||||||
Haynes International | 390,651 | 13,594,655 | ||||||
Louisiana-Pacific | 447,697 | 30,089,715 | ||||||
Martin Marietta Materials | 257,479 | 93,632,238 | ||||||
Minerals Technologies | 141,523 | 12,312,501 | ||||||
Nucor | 1,240,873 | 127,239,117 | ||||||
Reliance Steel & Aluminum | 263,210 | 44,237,705 | ||||||
RPM International | 533,287 | 49,878,333 | ||||||
Ryerson Holding * | 674,794 | 11,174,589 | ||||||
Steel Dynamics | 864,576 | 53,975,480 | ||||||
Summit Materials, Cl A * | 469,477 | 16,347,189 | ||||||
United States Steel | 904,969 | 23,465,846 | ||||||
US Concrete * | 194,954 | 11,110,429 | ||||||
Vulcan Materials | 591,898 | 108,506,741 | ||||||
Westlake Chemical | 525,950 | 53,052,577 | ||||||
802,670,157 | ||||||||
Utilities — 3.6% | ||||||||
MDU Resources Group | 823,088 | 27,705,142 | ||||||
Sempra Energy | 768,776 | 104,161,460 | ||||||
131,866,602 | ||||||||
TOTAL COMMON STOCK | ||||||||
(Cost $3,202,149,234) | 3,688,953,552 | |||||||
SHORT-TERM INVESTMENT(B)(C) — 0.3% | ||||||||
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010% | ||||||||
(Cost $10,671,853) | 10,671,853 | 10,671,853 |
83
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X U.S. Infrastructure Development ETF |
Face Amount | Value | |||||||
REPURCHASE AGREEMENT(B) — 0.3% | ||||||||
BNP Paribas | ||||||||
0.000%, dated 05/28/2021, to be repurchased on 06/01/2021, repurchase price $10,238,734 (collateralized by U.S. Treasury Obligations, ranging in par value $203,133 - $1,476,834, 2.000%, 10/31/2022, with a total market value of $10,438,491) | ||||||||
(Cost $10,238,734) | $ | 10,238,734 | $ | 10,238,734 | ||||
TOTAL INVESTMENTS — 100.4% | ||||||||
(Cost $3,223,059,821) | $ | 3,709,864,139 |
Percentages are based on Net Assets of $3,695,366,564.
* | Non-income producing security. |
(A) | This security or a partial position of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $20,268,144. |
(B) | Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2021 was $20,910,587. |
(C) | The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2021. |
Cl — Class
The following is a summary of the level of inputs used as of May 31, 2021, in valuing the Fund’s investments carried at value:
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | 3,688,953,552 | $ | — | $ | — | $ | 3,688,953,552 | ||||||||
Short-Term Investment | 10,671,853 | — | — | 10,671,853 | ||||||||||||
Repurchase Agreement | — | 10,238,734 | — | 10,238,734 | ||||||||||||
Total Investments in Securities | $ | 3,699,625,405 | $ | 10,238,734 | $ | — | $ | 3,709,864,139 |
For the period ended May 31, 2021, there were no transfers in or out of Level 3.
84
Schedule of Investments | May 31, 2021 (Unaudited) | |
Sector Weightings †:
† Sector weightings percentages are based on the total market value of investments.
Shares | Value | |||||||
COMMON STOCK — 99.7% | ||||||||
BRAZIL — 2.1% | ||||||||
Utilities — 2.1% | ||||||||
Cia de Saneamento Basico do Estado de Sao Paulo | 7,160 | $ | 54,793 | |||||
Cia de Saneamento de Minas Gerais-COPASA | 4,160 | 13,655 | ||||||
TOTAL BRAZIL | 68,448 | |||||||
CHILE — 0.3% | ||||||||
Utilities — 0.3% | ||||||||
Aguas Andinas, Cl A | 53,200 | 10,127 | ||||||
CHINA — 6.3% | ||||||||
Industrials — 1.7% | ||||||||
Beijing Originwater Technology, Cl A | 39,800 | 44,622 | ||||||
Zhongyuan Environment-Protection, Cl A | 8,200 | 8,125 | ||||||
52,747 | ||||||||
Materials — 0.3% | ||||||||
Dalian Bio-Chemical, Cl A | 3,900 | 9,259 | ||||||
Utilities — 4.3% | ||||||||
Beijing Enterprises Water Group | 85,540 | 34,165 | ||||||
Chengdu Xingrong Environment, Cl A | 24,000 | 19,747 |
85
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Clean Water ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Utilities — continued | ||||||||
Guangdong Investment | 56,300 | $ | 83,853 | |||||
137,765 | ||||||||
TOTAL CHINA | 199,771 | |||||||
FRANCE — 4.6% | ||||||||
Utilities — 4.6% | ||||||||
Suez | 6,040 | 147,042 | ||||||
JAPAN — 3.6% | ||||||||
Industrials — 3.6% | ||||||||
Kurita Water Industries | 1,840 | 87,336 | ||||||
METAWATER | 460 | 8,328 | ||||||
Nomura Micro Science | 280 | 9,980 | ||||||
Organo | 160 | 9,486 | ||||||
TOTAL JAPAN | 115,130 | |||||||
NORWAY — 0.2% | ||||||||
Industrials — 0.2% | ||||||||
Vow * | 1,500 | 6,789 | ||||||
SINGAPORE — 1.1% | ||||||||
Utilities — 1.1% | ||||||||
Keppel Infrastructure Trust | 85,460 | 35,199 | ||||||
SOUTH KOREA — 2.9% | ||||||||
Consumer Discretionary — 2.9% | ||||||||
Coway | 1,260 | 91,735 | ||||||
UNITED KINGDOM — 12.9% | ||||||||
Utilities — 12.9% | ||||||||
Pennon Group | 8,100 | 121,393 | ||||||
Severn Trent | 4,140 | 143,989 | ||||||
United Utilities Group | 10,450 | 145,736 |
86
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Clean Water ETF |
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
TOTAL UNITED KINGDOM | $ | 411,118 | ||||||
UNITED STATES — 65.7% | ||||||||
Industrials — 33.9% | ||||||||
Advanced Drainage Systems | 1,180 | 133,836 | ||||||
AO Smith | 2,000 | 142,140 | ||||||
Energy Recovery * | 640 | 12,166 | ||||||
Evoqua Water Technologies * | 2,120 | 65,974 | ||||||
Franklin Electric | 770 | 64,595 | ||||||
Mueller Water Products, Cl A | 3,000 | 43,410 | ||||||
Pentair | 2,880 | 198,634 | ||||||
Reliance Worldwide | 16,610 | 66,204 | ||||||
Watts Water Technologies, Cl A | 580 | 78,822 | ||||||
Xylem | 2,320 | 274,039 | ||||||
1,079,820 | ||||||||
Information Technology — 2.0% | ||||||||
Badger Meter | 680 | 64,988 | ||||||
Materials — 8.0% | ||||||||
Ecolab | 1,120 | 240,890 | ||||||
Forterra * | 540 | 12,625 | ||||||
253,515 | ||||||||
Utilities — 21.8% | ||||||||
American States Water | 800 | 63,496 | ||||||
American Water Works | 1,620 | 251,132 | ||||||
California Water Service Group | 1,100 | 62,524 | ||||||
Essential Utilities | 5,060 | 241,868 | ||||||
Middlesex Water | 360 | 30,946 | ||||||
SJW Group | 600 | 38,670 | ||||||
688,636 | ||||||||
TOTAL UNITED STATES | 2,086,959 |
87
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Clean Water ETF |
Value | ||||||||
COMMON STOCK — continued | ||||||||
TOTAL COMMON STOCK | ||||||||
(Cost $3,060,973) | $ | 3,172,318 | ||||||
TOTAL INVESTMENTS — 99.7% | ||||||||
(Cost $3,060,973) | $ | 3,172,318 |
Percentages are based on Net Assets of $3,182,278.
* | Non-income producing security. |
Cl — Class
As of May 31, 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 period ended May 31, 2021, there were no transfers in or out of Level 3.
88
Schedule of Investments | May 31, 2021 (Unaudited) | |
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 Notes 2 and 7 in Notes to Financial Statements for more detailed information.
Shares | Value | |||||||
EXCHANGE TRADED FUNDS — 99.8% | ||||||||
Global X Cannabis ETF (A) | 578,168 | $ | 8,828,625 | |||||
Global X Cloud Computing ETF * (A) (B) | 693,528 | 18,142,692 | ||||||
Global X FinTech ETF * (A) (B) | 570,076 | 25,733,230 | ||||||
Global X Genomics & Biotechnology ETF (A) | 752,548 | 16,179,782 | ||||||
Global X Lithium & Battery Tech ETF (A) | 165,856 | 11,019,473 | ||||||
Global X Robotics & Artificial Intelligence ETF (A) | 324,922 | 11,128,579 | ||||||
Global X Social Media ETF * (A) | 153,777 | 10,350,730 | ||||||
TOTAL EXCHANGE TRADED FUNDS | ||||||||
(Cost $106,119,932) | 101,383,111 | |||||||
SHORT-TERM INVESTMENT(C)(D) — 5.8% | ||||||||
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.010% | ||||||||
(Cost $5,896,548) | 5,896,548 | 5,896,548 |
89
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Thematic Growth ETF |
Face Amount | Value | |||||||
REPURCHASE AGREEMENT(C) — 5.6% | ||||||||
BNP Paribas | ||||||||
0.000%, dated 05/28/2021, to be repurchased on 06/01/2021, repurchase price $5,657,236 (collateralized by U.S. Treasury Obligations, ranging in par value $112,238 - $815,999, 2.000%, 10/31/2022, with a total market value of $5,767,607) | ||||||||
(Cost $5,657,236) | $ | 5,657,236 | $ | 5,657,236 | ||||
TOTAL INVESTMENTS — 111.2% | ||||||||
(Cost $117,673,716) | $ | 112,936,895 |
Percentages are based on Net Assets of $101,524,579.
* | Non-income producing security. |
(A) | Affiliated investment. |
(B) | This security or a partial position of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $11,266,638. |
(C) | Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2021 was $11,553,784. |
(D) | The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2021. |
Cl — Class
ETF — Exchange Traded Fund
The following is a summary of the level of inputs used as of May 31, 2021, in valuing the Fund’s investments carried at value:
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Exchange Traded Funds | $ | 101,383,111 | $ | — | $ | — | $ | 101,383,111 | ||||||||
Short-Term Investment | 5,896,548 | — | — | 5,896,548 | ||||||||||||
Repurchase Agreement | — | 5,657,236 | — | 5,657,236 | ||||||||||||
Total Investments in Securities | $ | 107,279,659 | $ | 5,657,236 | $ | — | $ | 112,936,895 |
For the period ended May 31, 2021, there were no transfers in or out of Level 3.
90
Schedule of Investments | May 31, 2021 (Unaudited) | |
Global X Thematic Growth ETF |
The following is a summary of the transactions with affiliates for the period ended May 31, 2021:
Value at 11/30/20 | Purchases at Cost | Proceeds from Sales | Changes in Unrealized Appreciation (Depreciation) | Realized Gain (Loss) | Value at 05/31/21 | Shares | Dividend Income | |||||||||||||||||||||||||
Global X FinTech ETF | $ | 3,470,146 | $ | 25,254,479 | $ | (2,075,181 | ) | $ | (1,258,104 | ) | $ | 341,890 | $ | 25,733,230 | 570,076 | $ | − | |||||||||||||||
Global X Lithium & Battery Tech ETF | 4,048,721 | 11,455,718 | (5,122,937 | ) | (902,406 | ) | 1,540,377 | 11,019,473 | 165,856 | 7,215 | ||||||||||||||||||||||
Global X Robotics & Artificial Intelligence ETF | 3,483,367 | 9,042,576 | (1,553,588 | ) | 1,867 | 154,357 | 11,128,579 | 324,922 | − | |||||||||||||||||||||||
Global X Social Media ETF | 3,585,488 | 10,196,222 | (3,765,035 | ) | (760,368 | ) | 1,094,423 | 10,350,730 | 153,777 | − | ||||||||||||||||||||||
Global X Cannabis ETF | 9,262,548 | 27,222,944 | (28,088,784 | ) | (2,800,634 | ) | 3,232,551 | 8,828,625 | 578,168 | 117,838 | ||||||||||||||||||||||
Global X Cloud Computing ETF | 6,196,733 | 15,877,765 | (2,989,583 | ) | (959,802 | ) | 17,579 | 18,142,692 | 693,528 | − | ||||||||||||||||||||||
Global X Genomics & Biotechnology ETF | 5,982,932 | 16,552,548 | (4,504,474 | ) | (2,969,918 | ) | 1,118,694 | 16,179,782 | 752,548 | 9,743 | ||||||||||||||||||||||
Totals: | $ | 36,029,935 | $ | 115,602,252 | $ | (48,099,582 | ) | $ | (9,649,365 | ) | $ | 7,499,871 | $ | 101,383,111 | 3,238,875 | $ | 134,796 |
91
May 31, 2021 (Unaudited) |
Global X Robotics & Artificial Intelligence ETF | Global X Internet of Things ETF | Global X FinTech ETF | ||||||||||
Assets: | ||||||||||||
Cost of Investments | $ | 2,085,729,140 | $ | 336,246,983 | $ | 937,395,344 | ||||||
Cost of Repurchase Agreement | 80,889,413 | 4,180,906 | 21,748,566 | |||||||||
Cost of Foreign Currency | 171,310 | — | 154,603 | |||||||||
Investments, at Value | $ | 2,615,657,880 | * | $ | 441,209,613 | * | $ | 1,238,142,145 | * | |||
Repurchase Agreement, at Value | 80,889,413 | 4,180,906 | 21,748,566 | |||||||||
Cash | — | 297,917 | 802,674 | |||||||||
Foreign Currency, at Value | 171,021 | — | 154,211 | |||||||||
Dividend and Interest Receivable | 4,236,414 | 416,481 | 308,776 | |||||||||
Reclaim Receivable | 4,137,546 | 171,778 | 136,166 | |||||||||
Unrealized Appreciation on Spot Contracts | — | — | 268 | |||||||||
Total Assets | 2,705,092,274 | 446,276,695 | 1,261,292,806 | |||||||||
Liabilities: | ||||||||||||
Obligation to Return Securities Lending Collateral | 165,200,614 | 8,538,672 | 44,417,141 | |||||||||
Payable due to Investment Adviser | 1,440,859 | 245,523 | 692,811 | |||||||||
Cash Overdraft | 2,001,576 | — | — | |||||||||
Total Liabilities | 168,643,049 | 8,784,195 | 45,109,952 | |||||||||
Net Assets | $ | 2,536,449,225 | $ | 437,492,500 | $ | 1,216,182,854 | ||||||
Net Assets Consist of: | ||||||||||||
Paid-in Capital | $ | 2,092,204,225 | $ | 330,198,779 | $ | 940,525,113 | ||||||
Total Distributable Earnings | 444,245,000 | 107,293,721 | 275,657,741 | |||||||||
Net Assets | $ | 2,536,449,225 | $ | 437,492,500 | $ | 1,216,182,854 | ||||||
Outstanding Shares of Beneficial Interest | ||||||||||||
(unlimited authorization — no par value) | 74,000,000 | 12,620,000 | 26,940,000 | |||||||||
Net Asset Value, Offering and Redemption Price Per Share | $ | 34.28 | $ | 34.67 | $ | 45.14 | ||||||
*Includes Market Value of Securities on Loan | $ | 156,929,711 | $ | 8,025,312 | $ | 41,722,700 |
92
Statements of Assets and Liabilities | ||
May 31, 2021 (Unaudited) |
Global X Video Games & Esports ETF | Global X Autonomous & Electric Vehicles ETF | Global X Cloud Computing ETF | ||||||||||
Assets: | ||||||||||||
Cost of Investments | $ | 650,851,300 | $ | 863,899,604 | $ | 1,132,304,990 | ||||||
Cost of Repurchase Agreement | 1,349,169 | 10,195,643 | 15,211,675 | |||||||||
Cost of Foreign Currency | 5 | 320,132 | 6 | |||||||||
Investments, at Value | $ | 670,226,073 | * | $ | 909,596,499 | * | $ | 1,298,581,993 | * | |||
Repurchase Agreement, at Value | 1,349,169 | 10,195,643 | 15,211,675 | |||||||||
Cash | — | 545,575 | 1,515,068 | |||||||||
Foreign Currency, at Value | 5 | 320,135 | 6 | |||||||||
Dividend and Interest Receivable | 1,336,474 | 1,037,584 | 128,265 | |||||||||
Receivable for Investment Securities Sold | — | — | 10,287,166 | |||||||||
Reclaim Receivable | — | 16,302 | — | |||||||||
Total Assets | 672,911,721 | 921,711,738 | 1,325,724,173 | |||||||||
Liabilities: | ||||||||||||
Obligation to Return Securities Lending Collateral | 2,755,410 | 20,822,583 | 31,066,835 | |||||||||
Payable due to Investment Adviser | 280,621 | 510,135 | 754,001 | |||||||||
Payable for Capital Shares Redeemed | — | — | 10,203,099 | |||||||||
Cash Overdraft | 62,652 | — | — | |||||||||
Total Liabilities | 3,098,683 | 21,332,718 | 42,023,935 | |||||||||
Net Assets | $ | 669,813,038 | $ | 900,379,020 | $ | 1,283,700,238 | ||||||
Net Assets Consist of: | ||||||||||||
Paid-in Capital | $ | 552,138,548 | $ | 817,117,848 | $ | 1,026,581,624 | ||||||
Total Distributable Earnings | 117,674,490 | 83,261,172 | 257,118,614 | |||||||||
Net Assets | $ | 669,813,038 | $ | 900,379,020 | $ | 1,283,700,238 | ||||||
Outstanding Shares of Beneficial Interest | ||||||||||||
(unlimited authorization — no par value) | 20,700,000 | 32,530,002 | 49,070,000 | |||||||||
Net Asset Value, Offering and Redemption Price Per Share | $ | 32.36 | $ | 27.68 | $ | 26.16 | ||||||
*Includes Market Value of Securities on Loan | $ | 2,640,318 | $ | 20,442,006 | $ | 29,791,047 |
93
Statements of Assets and Liabilities | ||
May 31, 2021 (Unaudited) |
Global X Data Center REITs & Digital Infrastructure ETF | Global X Cybersecurity ETF | Global X Artificial Intelligence & Technology ETF | ||||||||||
Assets: | ||||||||||||
Cost of Investments | $ | 51,999,205 | $ | 383,605,863 | $ | 188,993,877 | ||||||
Cost of Repurchase Agreement | — | — | 599,015 | |||||||||
Cost of Foreign Currency | 1 | (36,599 | ) | — | ||||||||
Investments, at Value | $ | 53,974,475 | $ | 357,893,687 | $ | 205,789,003 | * | |||||
Repurchase Agreement, at Value | — | — | 599,015 | |||||||||
Cash | 50,089 | — | 171,069 | |||||||||
Foreign Currency, at Value | 1 | — | — | |||||||||
Dividend and Interest Receivable | 78,152 | 247,247 | 179,257 | |||||||||
Unrealized Appreciation on Spot Contracts | — | 102 | 155 | |||||||||
Receivable for Capital Shares Sold | — | 5,748,470 | — | |||||||||
Receivable for Investment Securities Sold | — | — | 3,804,652 | |||||||||
Reclaim Receivable | — | — | 2,625 | |||||||||
Total Assets | 54,102,717 | 363,889,506 | 210,545,776 | |||||||||
Liabilities: | ||||||||||||
Obligation to Return Securities Lending Collateral | — | — | 1,223,369 | |||||||||
Payable due to Investment Adviser | 21,195 | 158,740 | 118,916 | |||||||||
Payable for Investment Securities Purchased | — | 5,760,551 | — | |||||||||
Payable for Capital Shares Redeemed | — | — | 3,756,634 | |||||||||
Overdraft of Foreign Currency | — | 36,599 | — | |||||||||
Cash Overdraft | — | 174,196 | — | |||||||||
Total Liabilities | 21,195 | 6,130,086 | 5,098,919 | |||||||||
Net Assets | $ | 54,081,522 | $ | 357,759,420 | $ | 205,446,857 | ||||||
Net Assets Consist of: | ||||||||||||
Paid-in Capital | $ | 51,850,858 | $ | 376,666,997 | $ | 167,253,134 | ||||||
Total Distributable Earnings/(Loss) | 2,230,664 | (18,907,577 | ) | 38,193,723 | ||||||||
Net Assets | $ | 54,081,522 | $ | 357,759,420 | $ | 205,446,857 | ||||||
Outstanding Shares of Beneficial Interest | ||||||||||||
(unlimited authorization — no par value) | 3,300,000 | 13,070,000 | 7,110,002 | |||||||||
Net Asset Value, Offering and Redemption Price Per Share | $ | 16.39 | $ | 27.37 | $ | 28.90 | ||||||
*Includes Market Value of Securities on Loan | $ | — | $ | — | $ | 1,212,639 |
94
Statements of Assets and Liabilities | ||
May 31, 2021 (Unaudited) |
Global X Millennial Consumer ETF | Global X Education ETF | Global X Cannabis ETF | ||||||||||
Assets: | ||||||||||||
Cost of Investments | $ | 161,399,846 | $ | 15,753,282 | $ | 241,147,282 | ||||||
Cost of Repurchase Agreement | — | — | 21,079,306 | |||||||||
Cost of Foreign Currency | — | 1 | (522,216 | ) | ||||||||
Investments, at Value | $ | 185,117,255 | $ | 13,358,858 | $ | 227,193,573 | * | |||||
Repurchase Agreement, at Value | — | — | 21,079,306 | |||||||||
Cash | 174,925 | 7,827 | — | |||||||||
Foreign Currency, at Value | — | 1 | — | |||||||||
Dividend and Interest Receivable | 27,300 | 17,924 | 513,924 | |||||||||
Receivable for Investment Securities Sold | — | 59,674 | 330,384 | |||||||||
Total Assets | 185,319,480 | 13,444,284 | 249,117,187 | |||||||||
Liabilities: | ||||||||||||
Obligation to Return Securities Lending Collateral | — | — | 43,050,310 | |||||||||
Payable due to Investment Adviser | 77,758 | 5,840 | 77,770 | |||||||||
Payable for Investment Securities Purchased | — | — | 74,249 | |||||||||
Overdraft of Foreign Currency | — | — | 522,216 | |||||||||
Unrealized Depreciation on Spot Contracts | — | — | 323 | |||||||||
Cash Overdraft | — | — | 229,699 | |||||||||
Total Liabilities | 77,758 | 5,840 | 43,954,567 | |||||||||
Net Assets | $ | 185,241,722 | $ | 13,438,444 | $ | 205,162,620 | ||||||
Net Assets Consist of: | ||||||||||||
Paid-in Capital | $ | 137,484,565 | $ | 16,276,843 | $ | 242,153,060 | ||||||
Total Distributable Earnings/(Loss) | 47,757,157 | (2,838,399 | ) | (36,990,440 | ) | |||||||
Net Assets | $ | 185,241,722 | $ | 13,438,444 | $ | 205,162,620 | ||||||
Outstanding Shares of Beneficial Interest | ||||||||||||
(unlimited authorization — no par value) | 4,490,000 | 920,000 | 13,400,000 | |||||||||
Net Asset Value, Offering and Redemption Price Per Share | $ | 41.26 | $ | 14.61 | $ | 15.31 | ||||||
*Includes Market Value of Securities on Loan | $ | — | $ | — | $ | 44,029,214 |
95
Statements of Assets and Liabilities | ||
May 31, 2021 (Unaudited) |
Global X Genomics & Biotechnology ETF | Global X China Biotech Innovation ETF | Global X Telemedicine & Digital Health ETF | ||||||||||
Assets: | ||||||||||||
Cost of Investments | $ | 212,490,454 | $ | 5,768,522 | $ | 729,673,107 | ||||||
Cost of Repurchase Agreement | 3,735,751 | — | 14,677,742 | |||||||||
Cost of Foreign Currency | 2 | 6,261 | — | |||||||||
Investments, at Value | $ | 204,820,801 | * | $ | 6,619,278 | $ | 749,076,957 | * | ||||
Repurchase Agreement, at Value | 3,735,751 | — | 14,677,742 | |||||||||
Cash | 155,176 | 10,099 | 1,304,400 | |||||||||
Foreign Currency, at Value | 2 | 6,323 | — | |||||||||
Dividend and Interest Receivable | 15,348 | — | 42,148 | |||||||||
Reclaim Receivable | — | — | 12,280 | |||||||||
Total Assets | 208,727,078 | 6,635,700 | 765,113,527 | |||||||||
Liabilities: | ||||||||||||
Obligation to Return Securities Lending Collateral | 7,629,532 | — | 29,976,383 | |||||||||
Payable due to Investment Adviser | 84,798 | 3,595 | 427,764 | |||||||||
Total Liabilities | 7,714,330 | 3,595 | 30,404,147 | |||||||||
Net Assets | $ | 201,012,748 | $ | 6,632,105 | $ | 734,709,380 | ||||||
Net Assets Consist of: | ||||||||||||
Paid-in Capital | $ | 205,933,765 | $ | 5,818,024 | $ | 708,448,102 | ||||||
Total Distributable Earnings/(Loss) | (4,921,017 | ) | 814,081 | 26,261,278 | ||||||||
Net Assets | $ | 201,012,748 | $ | 6,632,105 | $ | 734,709,380 | ||||||
Outstanding Shares of Beneficial Interest | ||||||||||||
(unlimited authorization — no par value) | 9,340,000 | 350,000 | 39,890,000 | |||||||||
Net Asset Value, Offering and Redemption Price Per Share | $ | 21.52 | $ | 18.95 | $ | 18.42 | ||||||
*Includes Market Value of Securities on Loan | $ | 7,336,461 | $ | — | $ | 29,099,220 |
96
Statements of Assets and Liabilities | ||
May 31, 2021 (Unaudited) |
Global X Aging Population ETF | Global X Health & Wellness ETF | Global X CleanTech ETF | ||||||||||
Assets: | ||||||||||||
Cost of Investments | $ | 40,617,608 | $ | 28,170,100 | $ | 163,811,172 | ||||||
Cost of Foreign Currency | 120 | 5,078 | 2 | |||||||||
Investments, at Value | $ | 43,951,317 | $ | 33,073,699 | $ | 133,299,576 | ||||||
Cash | 90,591 | 38,884 | — | |||||||||
Foreign Currency, at Value | 120 | 5,078 | 2 | |||||||||
Dividend and Interest Receivable | 32,875 | 20,157 | 99,974 | |||||||||
Reclaim Receivable | 17,638 | 8,994 | 9,355 | |||||||||
Unrealized Appreciation on Spot Contracts | — | — | 306 | |||||||||
Receivable for Investment Securities Sold | — | — | 4,918,349 | |||||||||
Total Assets | 44,092,541 | 33,146,812 | 138,327,562 | |||||||||
Liabilities: | ||||||||||||
Payable due to Investment Adviser | 18,038 | 13,513 | 59,630 | |||||||||
Payable for Capital Shares Redeemed | — | — | 5,199,452 | |||||||||
Unrealized Depreciation on Spot Contracts | — | 6 | — | |||||||||
Cash Overdraft | — | — | 174,410 | |||||||||
Total Liabilities | 18,038 | 13,519 | 5,433,492 | |||||||||
Net Assets | $ | 44,074,503 | $ | 33,133,293 | $ | 132,894,070 | ||||||
Net Assets Consist of: | ||||||||||||
Paid-in Capital | $ | 33,777,023 | $ | 26,900,484 | $ | 174,250,678 | ||||||
Total Distributable Earnings/(Loss) | 10,297,480 | 6,232,809 | (41,356,608 | ) | ||||||||
Net Assets | $ | 44,074,503 | $ | 33,133,293 | $ | 132,894,070 | ||||||
Outstanding Shares of Beneficial Interest | ||||||||||||
(unlimited authorization — no par value) | 1,510,000 | 1,130,000 | 6,900,000 | |||||||||
Net Asset Value, Offering and Redemption Price Per Share | $ | 29.19 | $ | 29.32 | $ | 19.26 |
97
Statements of Assets and Liabilities | ||
May 31, 2021 (Unaudited) |
Global X U.S. Infrastructure Development ETF | Global X Clean Water ETF | Global X Thematic Growth ETF | ||||||||||
Assets: | ||||||||||||
Cost of Investments | $ | 3,212,821,087 | $ | 3,060,973 | $ | 5,896,548 | ||||||
Cost of Repurchase Agreement | 10,238,734 | — | 5,657,236 | |||||||||
Cost of Affiliated Investments | — | — | 106,119,932 | |||||||||
Investments, at Value | $ | 3,699,625,405 | * | $ | 3,172,318 | $ | 5,896,548 | |||||
Repurchase Agreement, at Value | 10,238,734 | — | 5,657,236 | |||||||||
Affiliated Investments, at Value | — | — | 101,383,111 | * | ||||||||
Cash | 3,898,949 | 3,386 | 101,696 | |||||||||
Receivable for Capital Shares Sold | 10,849,628 | — | — | |||||||||
Dividend and Interest Receivable | 3,709,267 | 7,909 | 28,114 | |||||||||
Reclaim Receivable | 165,784 | — | — | |||||||||
Receivable due from Investment Adviser | — | — | 11,658 | |||||||||
Total Assets | 3,728,487,767 | 3,183,613 | 113,078,363 | |||||||||
Liabilities: | ||||||||||||
Obligation to Return Securities Lending Collateral | 20,910,587 | — | 11,553,784 | |||||||||
Payable for Investment Securities Purchased | 10,819,329 | — | — | |||||||||
Payable due to Investment Adviser | 1,391,287 | 1,335 | — | |||||||||
Total Liabilities | 33,121,203 | 1,335 | 11,553,784 | |||||||||
Net Assets | $ | 3,695,366,564 | $ | 3,182,278 | $ | 101,524,579 | ||||||
Net Assets Consist of: | ||||||||||||
Paid-in Capital | $ | 3,202,872,236 | $ | 3,062,929 | $ | 98,665,175 | ||||||
Total Distributable Earnings | 492,494,328 | 119,349 | 2,859,404 | |||||||||
Net Assets | $ | 3,695,366,564 | $ | 3,182,278 | $ | 101,524,579 | ||||||
Outstanding Shares of Beneficial Interest | ||||||||||||
(unlimited authorization — no par value) | 139,630,000 | 200,000 | 2,090,000 | |||||||||
Net Asset Value, Offering and Redemption Price Per Share | $ | 26.47 | $ | 15.91 | $ | 48.58 | ||||||
*Includes Market Value of Securities on Loan | $ | 20,268,144 | $ | — | $ | 11,266,638 |
98
For the period ended May 31, 2021 (Unaudited) |
Global X Robotics & Artificial Intelligence ETF | Global X Internet of Things ETF | Global X FinTech ETF | ||||||||||
Investment Income: | ||||||||||||
Dividend Income | $ | 13,945,030 | $ | 2,026,110 | $ | 1,766,372 | ||||||
Interest Income | 25 | 19 | 43 | |||||||||
Security Lending Income | 1,124,312 | 26,142 | 265,806 | |||||||||
Less: Foreign Taxes Withheld | (2,158,544 | ) | (83,769 | ) | (97,236 | ) | ||||||
Total Investment Income | 12,910,823 | 1,968,502 | 1,934,985 | |||||||||
Supervision and Administration Fees(1) | 8,500,207 | 1,308,248 | 3,909,448 | |||||||||
Custodian Fees(2) | 12,750 | 219 | 476 | |||||||||
Total Expenses | 8,512,957 | 1,308,467 | 3,909,924 | |||||||||
Net Investment Income (Loss) | 4,397,866 | 660,035 | (1,974,939 | ) | ||||||||
Net Realized Gain (Loss) on: | ||||||||||||
Investments(3) | 69,154,548 | 7,012,611 | 16,143,562 | |||||||||
Foreign Currency Transactions | (60,130 | ) | (13,606 | ) | (47,436 | ) | ||||||
Net Realized Gain on Investments and Foreign Currency Transactions | 69,094,418 | 6,999,005 | 16,096,126 | |||||||||
Net Change in Unrealized Appreciation on: | ||||||||||||
Investments | 90,128,169 | 43,382,543 | 16,866,652 | |||||||||
Foreign Currency Translations | 49,919 | 4,418 | 1,919 | |||||||||
Net Change in Unrealized Appreciation on Investments and Foreign Currency Translations | 90,178,088 | 43,386,961 | 16,868,571 | |||||||||
Net Realized and Unrealized Gain on Investments and Foreign Currency Transactions and Translations | 159,272,506 | 50,385,966 | 32,964,697 | |||||||||
Net Increase in Net Assets Resulting from Operations | $ | 163,670,372 | $ | 51,046,001 | $ | 30,989,758 |
(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.) |
99
Statements of Operations | ||
For the period ended May 31, 2021 (Unaudited) |
Global X Video Games & Esports ETF | Global X Autonomous & Electric Vehicles ETF | Global X Cloud Computing ETF | ||||||||||
Investment Income: | ||||||||||||
Dividend Income | $ | 2,801,335 | $ | 4,087,935 | $ | 1,019,857 | ||||||
Security Lending Income | 81,211 | 360,457 | 11,206 | |||||||||
Less: Foreign Taxes Withheld | (328,460 | ) | (243,116 | ) | — | |||||||
Total Investment Income | 2,554,086 | 4,205,276 | 1,031,063 | |||||||||
Supervision and Administration Fees(1) | 1,742,701 | 2,269,100 | 4,935,732 | |||||||||
Custodian Fees(2) | 2,732 | 628 | 1,285 | |||||||||
Total Expenses | 1,745,433 | 2,269,728 | 4,937,017 | |||||||||
Net Investment Income (Loss) | 808,653 | 1,935,548 | (3,905,954 | ) | ||||||||
Net Realized Gain (Loss) on: | ||||||||||||
Investments(3) | 101,653,587 | 37,137,927 | 104,372,431 | |||||||||
Foreign Currency Transactions | (30,997 | ) | 7,926 | (596 | ) | |||||||
Net Realized Gain on Investments and Foreign Currency Transactions | 101,622,590 | 37,145,853 | 104,371,835 | |||||||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||
Investments | (50,273,102 | ) | 25,382,221 | (85,966,660 | ) | |||||||
Foreign Currency Translations | (762 | ) | 198 | (10 | ) | |||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations | (50,273,864 | ) | 25,382,419 | (85,966,670 | ) | |||||||
Net Realized and Unrealized Gain on Investments and Foreign Currency Transactions and Translations | 51,348,726 | 62,528,272 | 18,405,165 | |||||||||
Net Increase in Net Assets Resulting from Operations | $ | 52,157,379 | $ | 64,463,820 | $ | 14,499,211 |
(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.) |
100
Statements of Operations | ||
For the period ended May 31, 2021 (Unaudited) |
Global X Data Center REITs & Digital Infrastructure ETF | Global X Cybersecurity ETF | Global X Artificial Intelligence & Technology ETF | ||||||||||
Investment Income: | ||||||||||||
Dividend Income | $ | 180,794 | $ | 511,696 | $ | 950,692 | ||||||
Security Lending Income | — | — | 6,649 | |||||||||
Less: Foreign Taxes Withheld | (6,305 | ) | (32,750 | ) | (82,123 | ) | ||||||
Total Investment Income | 174,489 | 478,946 | 875,218 | |||||||||
Supervision and Administration Fees(1) | 53,667 | 1,298,405 | 610,552 | |||||||||
Custodian Fees(2) | 35 | 930 | 328 | |||||||||
Total Expenses | 53,702 | 1,299,335 | 610,880 | |||||||||
Waiver of Supervision and Administration Fees | – | (130,273 | ) | – | ||||||||
Net Expenses | 53,702 | 1,169,062 | 610,880 | |||||||||
Net Investment Income (Loss) | 120,787 | (690,116 | ) | 264,338 | ||||||||
Net Realized Gain (Loss) on: | ||||||||||||
Investments(3) | 152,457 | 7,818,825 | 22,512,981 | |||||||||
Foreign Currency Transactions | (2,365 | ) | (13,204 | ) | (12,661 | ) | ||||||
Net Realized Gain on Investments and Foreign Currency Transactions | 150,092 | 7,805,621 | 22,500,320 | |||||||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||
Investments | 1,984,109 | (30,415,512 | ) | (7,485,303 | ) | |||||||
Foreign Currency Translations | 24 | 2,192 | 164 | |||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations | 1,984,133 | (30,413,320 | ) | (7,485,139 | ) | |||||||
Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Transactions and Translations | 2,134,225 | (22,607,699 | ) | 15,015,181 | ||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 2,255,012 | $ | (23,297,815 | ) | $ | 15,279,519 |
(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.) |
101
Statements of Operations | ||
For the period ended May 31, 2021 (Unaudited) |
Global X Millennial Consumer ETF | Global X Education ETF | Global X Cannabis ETF | ||||||||||
Investment Income: | ||||||||||||
Dividend Income | $ | 399,232 | $ | 43,875 | $ | — | ||||||
Interest Income | 4 | 1 | — | |||||||||
Security Lending Income | 490 | — | 1,634,183 | |||||||||
Less: Foreign Taxes Withheld | — | (1,216 | ) | — | ||||||||
Total Investment Income | 399,726 | 42,660 | 1,634,183 | |||||||||
Supervision and Administration Fees(1) | 391,642 | 29,459 | 355,758 | |||||||||
Custodian Fees(2) | 459 | 257 | 1,249 | |||||||||
Total Expenses | 392,101 | 29,716 | 357,007 | |||||||||
Net Investment Income | 7,625 | 12,944 | 1,277,176 | |||||||||
Net Realized Gain (Loss) on: | ||||||||||||
Investments(3) | 25,640,594 | (223,651 | ) | (20,316,417 | ) | |||||||
Foreign Currency Transactions | — | 868 | 15,170 | |||||||||
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions | 25,640,594 | (222,783 | ) | (20,301,247 | ) | |||||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||
Investments | (4,747,078 | ) | (2,854,336 | ) | (19,466,214 | ) | ||||||
Foreign Currency Translations | — | 71 | (323 | ) | ||||||||
Net Change in Unrealized Depreciation on Investments and Foreign Currency Translations | (4,747,078 | ) | (2,854,265 | ) | (19,466,537 | ) | ||||||
Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Transactions and Translations | 20,893,516 | (3,077,048 | ) | (39,767,784 | ) | |||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 20,901,141 | $ | (3,064,104 | ) | $ | (38,490,608 | ) |
(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.) |
102
Statements of Operations | ||
For the period ended May 31, 2021 (Unaudited) |
Global X Genomics & Biotechnology ETF | Global X China Biotech Innovation ETF | Global X Telemedicine & Digital Health ETF | ||||||||||
Investment Income: | ||||||||||||
Dividend Income | $ | 109,536 | $ | 7,166 | $ | 549,644 | ||||||
Interest Income | — | 1 | — | |||||||||
Security Lending Income | 48,052 | — | 30,352 | |||||||||
Less: Foreign Taxes Withheld | (2,370 | ) | (966 | ) | (23,281 | ) | ||||||
Total Investment Income | 155,218 | 6,201 | 556,715 | |||||||||
Supervision and Administration Fees(1) | 432,033 | 14,827 | 2,465,110 | |||||||||
Custodian Fees(2) | 213 | 122 | 1,120 | |||||||||
Total Expenses | 432,246 | 14,949 | 2,466,230 | |||||||||
Net Investment Loss | (277,028 | ) | (8,748 | ) | (1,909,515 | ) | ||||||
Net Realized Gain (Loss) on: | ||||||||||||
Investments(3) | 4,194,765 | (18,444 | ) | 11,714,525 | ||||||||
Foreign Currency Transactions | (36 | ) | (1,477 | ) | (301 | ) | ||||||
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions | 4,194,729 | (19,921 | ) | 11,714,224 | ||||||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||
Investments | (21,759,253 | ) | 908,309 | (35,548,152 | ) | |||||||
Foreign Currency Translations | 29 | 62 | 53 | |||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations | (21,759,224 | ) | 908,371 | (35,548,099 | ) | |||||||
Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Transactions and Translations | (17,564,495 | ) | 888,450 | (23,833,875 | ) | |||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | (17,841,523 | ) | $ | 879,702 | $ | (25,743,390 | ) |
(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.) |
103
Statements of Operations | ||
For the period ended May 31, 2021 (Unaudited) |
Global X Aging Population ETF | Global X Health & Wellness ETF | Global X CleanTech ETF | ||||||||||
Investment Income: | ||||||||||||
Dividend Income | $ | 214,685 | $ | 166,596 | $ | 186,353 | ||||||
Less: Foreign Taxes Withheld | (10,378 | ) | (12,035 | ) | (14,279 | ) | ||||||
Total Investment Income | 204,307 | 154,561 | 172,074 | |||||||||
Supervision and Administration Fees(1) | 115,011 | 64,794 | 342,682 | |||||||||
Custodian Fees(2) | 366 | 43 | 47 | |||||||||
Total Expenses | 115,377 | 64,837 | 342,729 | |||||||||
Net Investment Income (Loss) | 88,930 | 89,724 | (170,655 | ) | ||||||||
Net Realized Gain (Loss) on: | ||||||||||||
Investments(3) | 7,436,268 | 1,677,304 | (10,672,175 | ) | ||||||||
Foreign Currency Transactions | 2,432 | (2,734 | ) | (1,050 | ) | |||||||
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions | 7,438,700 | 1,674,570 | (10,673,225 | ) | ||||||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||
Investments | (3,401,358 | ) | 3,483,919 | (32,958,404 | ) | |||||||
Foreign Currency Translations | 212 | 16 | 355 | |||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations | (3,401,146 | ) | 3,483,935 | (32,958,049 | ) | |||||||
Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Transactions and Translations | 4,037,554 | 5,158,505 | (43,631,274 | ) | ||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 4,126,484 | $ | 5,248,229 | $ | (43,801,929 | ) |
(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.) |
104
Statements of Operations | ||
For the period ended May 31, 2021 (Unaudited) |
Global X U.S. Infrastructure Development ETF | Global X Clean Water ETF(1) | Global X Thematic Growth ETF | ||||||||||
Investment Income: | ||||||||||||
Dividend Income | $ | 11,269,458 | $ | 10,662 | $ | — | ||||||
Dividend Income, from Affiliated Investments | — | — | 134,796 | |||||||||
Interest Income | 77 | — | — | |||||||||
Security Lending Income | 2,258 | — | 186,612 | |||||||||
Less: Foreign Taxes Withheld | — | (311 | ) | — | ||||||||
Total Investment Income | 11,271,793 | 10,351 | 321,408 | |||||||||
Supervision and Administration Fees(2) | 4,362,380 | 1,951 | 195,155 | |||||||||
Custodian Fees(3) | 2,156 | 7 | 199 | |||||||||
Total Expenses | 4,364,536 | 1,958 | 195,354 | |||||||||
Reimbursement from Adviser(4) | – | – | (244,361 | ) | ||||||||
Net Expenses | 4,364,536 | 1,958 | (49,007 | ) | ||||||||
Net Investment Income | 6,907,257 | 8,393 | 370,415 | |||||||||
Net Realized Gain (Loss) on: | ||||||||||||
Investments(5) | (458,576 | ) | (403 | ) | — | |||||||
Affiliated Investments | — | — | 7,499,871 | |||||||||
Net Realized Gain (Loss) on Investments | (458,576 | ) | (403 | ) | 7,499,871 | |||||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||
Investments | 419,635,525 | 111,345 | — | |||||||||
Affiliated Investments | — | — | (9,649,365 | ) | ||||||||
Foreign Currency Translations | — | 14 | — | |||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations | 419,635,525 | 111,359 | (9,649,365 | ) | ||||||||
Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Transactions and Translations | 419,176,949 | 110,956 | (2,149,494 | ) | ||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 426,084,206 | $ | 119,349 | $ | (1,779,079 | ) |
(1) | The Fund commenced operations on April 8, 2021. |
(2) | The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.) |
(3) | See Note 2 in the Notes to Financial Statements. |
(4) | See Note 3 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.) |
105
Global X Robotics & Artificial Intelligence ETF | Global X Internet of Things ETF | |||||||||||||||
Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | |||||||||||||
Operations: | ||||||||||||||||
Net Investment Income | $ | 4,397,866 | $ | 3,242,472 | $ | 660,035 | $ | 1,315,269 | ||||||||
Net Realized Gain on Investments and Foreign Currency Transactions(1) | 69,094,418 | 7,613,107 | 6,999,005 | 16,117,099 | ||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations | 90,178,088 | 626,860,201 | 43,386,961 | 46,240,265 | ||||||||||||
Net Increase in Net Assets Resulting from Operations | 163,670,372 | 637,715,780 | 51,046,001 | 63,672,633 | ||||||||||||
Distributions | — | (5,209,655 | ) | (670,702 | ) | (1,147,071 | ) | |||||||||
Return of Capital | — | (891,490 | ) | — | — | |||||||||||
Capital Share Transactions: | ||||||||||||||||
Issued | 392,508,504 | 410,953,206 | 97,122,019 | 137,037,322 | ||||||||||||
Redeemed | (177,904,238 | ) | (364,376,798 | ) | (6,512,770 | ) | (34,682,420 | ) | ||||||||
Increase in Net Assets from Capital Share Transactions | 214,604,266 | 46,576,408 | 90,609,249 | 102,354,902 | ||||||||||||
Total Increase in Net Assets | 378,274,638 | 678,191,043 | 140,984,548 | 164,880,464 | ||||||||||||
Net Assets: | ||||||||||||||||
Beginning of Year/Period | 2,158,174,587 | 1,479,983,544 | 296,507,952 | 131,627,488 | ||||||||||||
End of Year/Period | $ | 2,536,449,225 | $ | 2,158,174,587 | $ | 437,492,500 | $ | 296,507,952 | ||||||||
Share Transactions: | ||||||||||||||||
Issued | 11,540,000 | 15,950,000 | 2,920,000 | 5,600,000 | ||||||||||||
Redeemed | (5,440,000 | ) | (17,100,000 | ) | (200,000 | ) | (1,450,000 | ) | ||||||||
Net Increase (Decrease) in Shares Outstanding from Share Transactions | 6,100,000 | (1,150,000 | ) | 2,720,000 | 4,150,000 |
(1) | Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.) |
106
Statements of Changes in Net Assets | ||
Global X FinTech ETF | Global X Video Games & Esports ETF | |||||||||||||||
Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | |||||||||||||
Operations: | ||||||||||||||||
Net Investment Income (Loss) | $ | (1,974,939 | ) | $ | (1,840,919 | ) | $ | 808,653 | $ | 67,313 | ||||||
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions(1) | 16,096,126 | (13,205,493 | ) | 101,622,590 | 14,607,273 | |||||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations | 16,868,571 | 238,992,156 | (50,273,864 | ) | 69,574,661 | |||||||||||
Net Increase in Net Assets Resulting from Operations | 30,989,758 | 223,945,744 | 52,157,379 | 84,249,247 | ||||||||||||
Distributions | — | — | (3,837,476 | ) | (67,560 | ) | ||||||||||
Capital Share Transactions: | ||||||||||||||||
Issued | 349,202,448 | 278,249,866 | 459,112,652 | 452,438,823 | ||||||||||||
Redeemed | (38,183,901 | ) | (41,173,195 | ) | (318,960,232 | ) | (56,852,547 | ) | ||||||||
Increase in Net Assets from Capital Share Transactions | 311,018,547 | 237,076,671 | 140,152,420 | 395,586,276 | ||||||||||||
Total Increase in Net Assets | 342,008,305 | 461,022,415 | 188,472,323 | 479,767,963 | ||||||||||||
Net Assets: | ||||||||||||||||
Beginning of Year/Period | 874,174,549 | 413,152,134 | 481,340,715 | 1,572,752 | ||||||||||||
End of Year/Period | $ | 1,216,182,854 | $ | 874,174,549 | $ | 669,813,038 | $ | 481,340,715 | ||||||||
Share Transactions: | ||||||||||||||||
Issued | 7,380,000 | 8,300,000 | 13,920,000 | 19,250,000 | ||||||||||||
Redeemed | (890,000 | ) | (1,400,000 | ) | (10,070,000 | ) | (2,500,000 | ) | ||||||||
Net Increase in Shares Outstanding from Share Transactions | 6,490,000 | 6,900,000 | 3,850,000 | 16,750,000 |
(1) | Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.) |
107
Statements of Changes in Net Assets | ||
Global X Autonomous & Electric Vehicles ETF | Global X Cloud Computing ETF | |||||||||||||||
Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | |||||||||||||
Operations: | ||||||||||||||||
Net Investment Income (Loss) | $ | 1,935,548 | $ | 207,504 | $ | (3,905,954 | ) | $ | (4,118,942 | ) | ||||||
Net Realized Gain on Investments and Foreign Currency Transactions(1) | 37,145,853 | 1,780,536 | 104,371,835 | 147,392,184 | ||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations | 25,382,419 | 20,973,963 | (85,966,670 | ) | 242,627,223 | |||||||||||
Net Increase in Net Assets Resulting from Operations | 64,463,820 | 22,962,003 | 14,499,211 | 385,900,465 | ||||||||||||
Distributions | (200,327 | ) | (148,067 | ) | — | (216,000 | ) | |||||||||
Capital Share Transactions: | ||||||||||||||||
Issued | 809,748,710 | 102,125,471 | 149,759,244 | 909,735,434 | ||||||||||||
Redeemed | (109,555,720 | ) | (3,871,797 | ) | (286,047,222 | ) | (362,316,444 | ) | ||||||||
Increase (Decrease) in Net Assets from Capital Share Transactions | 700,192,990 | 98,253,674 | (136,287,978 | ) | 547,418,990 | |||||||||||
Total Increase (Decrease) in Net Assets | 764,456,483 | 121,067,610 | (121,788,767 | ) | 933,103,455 | |||||||||||
Net Assets: | ||||||||||||||||
Beginning of Year/Period | 135,922,537 | 14,854,927 | 1,405,489,005 | 472,385,550 | ||||||||||||
End of Year/Period | $ | 900,379,020 | $ | 135,922,537 | $ | 1,283,700,238 | $ | 1,405,489,005 | ||||||||
Share Transactions: | ||||||||||||||||
Issued | 30,500,000 | 5,450,000 | 5,720,000 | 42,050,000 | ||||||||||||
Redeemed | (4,220,000 | ) | (250,000 | ) | (11,050,000 | ) | (17,200,000 | ) | ||||||||
Net Increase (Decrease) in Shares Outstanding from Share Transactions | 26,280,000 | 5,200,000 | (5,330,000 | ) | 24,850,000 |
(1) | Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.) |
108
Statements of Changes in Net Assets | ||
Global X Data Center REITs & Digital Infrastructure ETF | Global X Cybersecurity ETF | |||||||||||||||
Period Ended May 31, 2021 (Unaudited) | Period Ended November 30, 2020(1) | Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | |||||||||||||
Operations: | ||||||||||||||||
Net Investment Income (Loss) | $ | 120,787 | $ | 506 | $ | (690,116 | ) | $ | 86,100 | |||||||
Net Realized Gain on Investments and Foreign Currency Transactions(2) | 150,092 | 162 | 7,805,621 | 1,476,776 | ||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations | 1,984,133 | (8,833 | ) | (30,413,320 | ) | 4,518,525 | ||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | 2,255,012 | (8,165 | ) | (23,297,815 | ) | 6,081,401 | ||||||||||
Distributions | (16,183 | ) | — | (165,949 | ) | (130,636 | ) | |||||||||
Capital Share Transactions: | ||||||||||||||||
Issued | 48,896,338 | 3,743,722 | 901,086,071 | 42,185,801 | ||||||||||||
Redeemed | (789,202 | ) | — | (566,496,439 | ) | (3,216,779 | ) | |||||||||
Increase in Net Assets from Capital Share Transactions | 48,107,136 | 3,743,722 | 334,589,632 | 38,969,022 | ||||||||||||
Total Increase in Net Assets | 50,345,965 | 3,735,557 | 311,125,868 | 44,919,787 | ||||||||||||
Net Assets: | ||||||||||||||||
Beginning of Year/Period | 3,735,557 | — | 46,633,552 | 1,713,765 | ||||||||||||
End of Year/Period | $ | 54,081,522 | $ | 3,735,557 | $ | 357,759,420 | $ | 46,633,552 | ||||||||
Share Transactions: | ||||||||||||||||
Issued | 3,100,000 | 250,000 | 31,990,000 | 2,100,000 | ||||||||||||
Redeemed | (50,000 | ) | — | (20,970,000 | ) | (150,000 | ) | |||||||||
Net Increase in Shares Outstanding from Share Transactions | 3,050,000 | 250,000 | 11,020,000 | 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.) |
109
Statements of Changes in Net Assets | ||
Global X Artificial Intelligence & Technology ETF | Global X Millennial Consumer ETF | |||||||||||||||
Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | |||||||||||||
Operations: | ||||||||||||||||
Net Investment Income | $ | 264,338 | $ | 494,532 | $ | 7,625 | $ | 157,088 | ||||||||
Net Realized Gain on Investments and Foreign Currency Transactions(1) | 22,500,320 | 5,048,075 | 25,640,594 | 1,634,770 | ||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations | (7,485,139 | ) | 20,629,782 | (4,747,078 | ) | 26,411,623 | ||||||||||
Net Increase in Net Assets Resulting from Operations | 15,279,519 | 26,172,389 | 20,901,141 | 28,203,481 | ||||||||||||
Distributions | (295,974 | ) | (293,815 | ) | (197,478 | ) | (326,460 | ) | ||||||||
Capital Share Transactions: | ||||||||||||||||
Issued | 121,136,181 | 65,644,332 | 99,255,688 | 26,317,605 | ||||||||||||
Redeemed | (50,841,378 | ) | (15,598,992 | ) | (49,228,303 | ) | (15,066,868 | ) | ||||||||
Increase in Net Assets from Capital Share Transactions | 70,294,803 | 50,045,340 | 50,027,385 | 11,250,737 | ||||||||||||
Total Increase in Net Assets | 85,278,348 | 75,923,914 | 70,731,048 | 39,127,758 | ||||||||||||
Net Assets: | ||||||||||||||||
Beginning of Year/Period | 120,168,509 | 44,244,595 | 114,510,674 | 75,382,916 | ||||||||||||
End of Year/Period | $ | 205,446,857 | $ | 120,168,509 | $ | 185,241,722 | $ | 114,510,674 | ||||||||
Share Transactions: | ||||||||||||||||
Issued | 4,290,000 | 2,900,000 | 2,440,000 | 900,000 | ||||||||||||
Redeemed | (1,830,000 | ) | (800,000 | ) | (1,200,000 | ) | (600,000 | ) | ||||||||
Net Increase in Shares Outstanding from Share Transactions | 2,460,000 | 2,100,000 | 1,240,000 | 300,000 |
(1) | Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.) |
110
Statements of Changes in Net Assets | ||
Global X Education ETF | Global X Cannabis ETF | |||||||||||||||
Period Ended May 31, 2021 (Unaudited) | Period Ended November 30, 2020(1) | Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | |||||||||||||
Operations: | ||||||||||||||||
Net Investment Income (Loss) | $ | 12,944 | $ | (4,394 | ) | $ | 1,277,176 | $ | 893,403 | |||||||
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions(2) | (222,783 | ) | 67,416 | (20,301,247 | ) | (3,805,246 | ) | |||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations | (2,854,265 | ) | 459,932 | (19,466,537 | ) | 6,618,255 | ||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | (3,064,104 | ) | 522,954 | (38,490,608 | ) | 3,706,412 | ||||||||||
Distributions | — | — | (544,706 | ) | (501,916 | ) | ||||||||||
Capital Share Transactions: | ||||||||||||||||
Issued | 9,646,803 | 7,879,257 | 259,366,186 | 28,360,906 | ||||||||||||
Redeemed | — | (1,546,466 | ) | (51,328,117 | ) | — | ||||||||||
Increase in Net Assets from Capital Share Transactions | 9,646,803 | 6,332,791 | 208,038,069 | 28,360,906 | ||||||||||||
Total Increase in Net Assets | 6,582,699 | 6,855,745 | 169,002,755 | 31,565,402 | ||||||||||||
Net Assets: | ||||||||||||||||
Beginning of Year/Period | 6,855,745 | — | 36,159,865 | 4,594,463 | ||||||||||||
End of Year/Period | $ | 13,438,444 | $ | 6,855,745 | $ | 205,162,620 | $ | 36,159,865 | ||||||||
Share Transactions: | ||||||||||||||||
Issued | 520,000 | 500,000 | 13,200,000 | 2,700,000 | ||||||||||||
Redeemed | — | (100,000 | ) | (2,800,000 | ) | — | ||||||||||
Net Increase in Shares Outstanding from Share Transactions | 520,000 | 400,000 | 10,400,000 | 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.) |
111
Statements of Changes in Net Assets | ||
Global X Genomics & Biotechnology ETF | Global X China Biotech Innovation ETF | |||||||||||||||
Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | Period Ended May 31, 2021 (Unaudited) | Period Ended November 30, 2020(1) | |||||||||||||
Operations: | ||||||||||||||||
Net Investment Loss | $ | (277,028 | ) | $ | (154,881 | ) | $ | (8,748 | ) | $ | (2,388 | ) | ||||
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions(2) | 4,194,729 | 5,206,530 | (19,921 | ) | (5,680 | ) | ||||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations | (21,759,224 | ) | 12,154,278 | 908,371 | (57,553 | ) | ||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | (17,841,523 | ) | 17,205,927 | 879,702 | (65,621 | ) | ||||||||||
Distributions | (157,150 | ) | — | — | — | |||||||||||
Capital Share Transactions: | ||||||||||||||||
Issued | 165,735,586 | 57,860,443 | 3,520,275 | 2,297,749 | ||||||||||||
Redeemed | (28,674,972 | ) | (11,849,645 | ) | — | — | ||||||||||
Increase in Net Assets from Capital Share Transactions | 137,060,614 | 46,010,798 | 3,520,275 | 2,297,749 | ||||||||||||
Total Increase in Net Assets | 119,061,941 | 63,216,725 | 4,399,977 | 2,232,128 | ||||||||||||
Net Assets: | ||||||||||||||||
Beginning of Year/Period | 81,950,807 | 18,734,082 | 2,232,128 | — | ||||||||||||
End of Year/Period | $ | 201,012,748 | $ | 81,950,807 | $ | 6,632,105 | $ | 2,232,128 | ||||||||
Share Transactions: | ||||||||||||||||
Issued | 6,720,000 | 3,350,000 | 200,000 | 150,000 | ||||||||||||
Redeemed | (1,280,000 | ) | (650,000 | ) | — | — | ||||||||||
Net Increase in Shares Outstanding from Share Transactions | 5,440,000 | 2,700,000 | 200,000 | 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.) |
112
Statements of Changes in Net Assets | ||
Global X Telemedicine & Digital Health ETF | Global X Aging Population ETF | |||||||||||||||
Period Ended May 31, 2021 (Unaudited) | Period Ended November 30, 2020(1) | Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | |||||||||||||
Operations: | ||||||||||||||||
Net Investment Income (Loss) | $ | (1,909,515 | ) | $ | 197,233 | $ | 88,930 | $ | 130,386 | |||||||
Net Realized Gain on Investments and Foreign Currency Transactions(2) | 11,714,224 | 4,212,161 | 7,438,700 | 1,121,071 | ||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations | (35,548,099 | ) | 54,952,002 | (3,401,146 | ) | 3,221,996 | ||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | (25,743,390 | ) | 59,361,396 | 4,126,484 | 4,473,453 | |||||||||||
Distributions | (193,332 | ) | — | (101,665 | ) | (207,290 | ) | |||||||||
Capital Share Transactions: | ||||||||||||||||
Issued | 339,087,969 | 450,607,051 | 17,415,639 | 18,592,284 | ||||||||||||
Redeemed | (69,116,674 | ) | (19,293,640 | ) | (20,272,786 | ) | (3,499,173 | ) | ||||||||
Increase (Decrease) in Net Assets from Capital Share Transactions | 269,971,295 | 431,313,411 | (2,857,147 | ) | 15,093,111 | |||||||||||
Total Increase in Net Assets | 244,034,573 | 490,674,807 | 1,167,672 | 19,359,274 | ||||||||||||
Net Assets: | ||||||||||||||||
Beginning of Year/Period | 490,674,807 | — | 42,906,831 | 23,547,557 | ||||||||||||
End of Year/Period | $ | 734,709,380 | $ | 490,674,807 | $ | 44,074,503 | $ | 42,906,831 | ||||||||
Share Transactions: | ||||||||||||||||
Issued | 16,900,000 | 27,750,000 | 620,000 | 750,000 | ||||||||||||
Redeemed | (3,660,000 | ) | (1,100,000 | ) | (710,000 | ) | (150,000 | ) | ||||||||
Net Increase (Decrease) in Shares Outstanding from Share Transactions | 13,240,000 | 26,650,000 | (90,000 | ) | 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.) |
113
Statements of Changes in Net Assets | ||
Global X Health & Wellness ETF | Global X CleanTech ETF | |||||||||||||||
Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | Period Ended May 31, 2021 (Unaudited) | Period Ended November 30, 2020(1) | |||||||||||||
Operations: | ||||||||||||||||
Net Investment Income (Loss) | $ | 89,724 | $ | 94,216 | $ | (170,655 | ) | $ | 10,479 | |||||||
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions(2) | 1,674,570 | 2,165,439 | (10,673,225 | ) | (2,573 | ) | ||||||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations | 3,483,935 | 47,301 | (32,958,049 | ) | 2,447,006 | |||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | 5,248,229 | 2,306,956 | (43,801,929 | ) | 2,454,912 | |||||||||||
Distributions | (88,108 | ) | (95,104 | ) | (9,591 | ) | — | |||||||||
Capital Share Transactions: | ||||||||||||||||
Issued | 14,238,180 | 14,278,870 | 170,435,582 | 26,068,557 | ||||||||||||
Redeemed | (6,760,921 | ) | (16,109,523 | ) | (22,253,461 | ) | — | |||||||||
Increase (Decrease) in Net Assets from Capital Share Transactions | 7,477,259 | (1,830,653 | ) | 148,182,121 | 26,068,557 | |||||||||||
Total Increase in Net Assets | 12,637,380 | 381,199 | 104,370,601 | 28,523,469 | ||||||||||||
Net Assets: | ||||||||||||||||
Beginning of Year/Period | 20,495,913 | 20,114,714 | 28,523,469 | — | ||||||||||||
End of Year/Period | $ | 33,133,293 | $ | 20,495,913 | $ | 132,894,070 | $ | 28,523,469 | ||||||||
Share Transactions: | ||||||||||||||||
Issued | 530,000 | 700,000 | 6,640,000 | 1,500,000 | ||||||||||||
Redeemed | (250,000 | ) | (800,000 | ) | (1,240,000 | ) | — | |||||||||
Net Increase (Decrease) in Shares Outstanding from Share Transactions | 280,000 | (100,000 | ) | 5,400,000 | 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.) |
114
Statements of Changes in Net Assets | ||
Global X U.S. Infrastructure Development ETF | Global X Clean Water ETF | |||||||||||
Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | Period Ended May 31, 2021(1) (Unaudited) | ||||||||||
Operations: | ||||||||||||
Net Investment Income | $ | 6,907,257 | $ | 2,019,654 | $ | 8,393 | ||||||
Net Realized Loss on Investments(2) | (458,576 | ) | (8,543,451 | ) | (403 | ) | ||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments | 419,635,525 | 62,924,477 | 111,359 | |||||||||
Net Increase in Net Assets Resulting from Operations | 426,084,206 | 56,400,680 | 119,349 | |||||||||
Distributions | (1,999,347 | ) | (1,004,004 | ) | — | |||||||
Return of Capital | (32,708 | ) | — | — | ||||||||
Capital Share Transactions: | ||||||||||||
Issued | 2,668,620,394 | 481,978,464 | 3,062,929 | |||||||||
Redeemed | (50,941,466 | ) | (66,804,212 | ) | — | |||||||
Increase in Net Assets from Capital Share Transactions | 2,617,678,928 | 415,174,252 | 3,062,929 | |||||||||
Total Increase in Net Assets | 3,041,731,079 | 470,570,928 | 3,182,278 | |||||||||
Net Assets: | ||||||||||||
Beginning of Year/Period | 653,635,485 | 183,064,557 | — | |||||||||
End of Year/Period | $ | 3,695,366,564 | $ | 653,635,485 | $ | 3,182,278 | ||||||
Share Transactions: | ||||||||||||
Issued | 109,380,000 | 27,150,000 | 200,000 | |||||||||
Redeemed | (2,050,000 | ) | (5,350,000 | ) | — | |||||||
Net Increase in Shares Outstanding from Share Transactions | 107,330,000 | 21,800,000 | 200,000 |
(1) | The Fund commenced operations on April 8, 2021. |
(2) | Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.) |
115
Statements of Changes in Net Assets | ||
Global X Thematic Growth ETF | ||||||||
Period Ended May 31, 2021 (Unaudited) | Year Ended November 30, 2020 | |||||||
Operations: | ||||||||
Net Investment Income | $ | 370,415 | $ | 33,093 | ||||
Net Realized Gain on Investments(1) | 7,499,871 | 2,753,474 | ||||||
Net Change in Unrealized Appreciation (Depreciation) on Investments | (9,649,365 | ) | 4,786,079 | |||||
Net Increase (Decrease) in Net Assets Resulting from Operations | (1,779,079 | ) | 7,572,646 | |||||
Distributions | (168,656 | ) | (16,854 | ) | ||||
Capital Share Transactions: | ||||||||
Issued | 102,231,178 | 47,069,175 | ||||||
Redeemed | (34,839,710 | ) | (21,193,938 | ) | ||||
Increase in Net Assets from Capital Share Transactions | 67,391,468 | 25,875,237 | ||||||
Total Increase in Net Assets | 65,443,733 | 33,431,029 | ||||||
Net Assets: | ||||||||
Beginning of Year/Period | 36,080,846 | 2,649,817 | ||||||
End of Year/Period | $ | 101,524,579 | $ | 36,080,846 | ||||
Share Transactions: | ||||||||
Issued | 1,930,000 | 1,350,000 | ||||||
Redeemed | (690,000 | ) | (600,000 | ) | ||||
Net Increase in Shares Outstanding from Share Transactions | 1,240,000 | 750,000 |
(1) | Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.) |
116
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 ($) | Distribution from Capital Gains ($) | |||||||||||||||||||
Global X Robotics & Artificial Intelligence ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 31.78 | 0.06 | 2.44 | 2.50 | — | — | ||||||||||||||||||
2020 | 21.43 | 0.05 | 10.39 | 10.44 | (0.08 | ) | — | |||||||||||||||||
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 | ) | — | |||||||||||||||||
2016(1) | 14.84 | 0.02 | 0.01 | 0.03 | — | — | ||||||||||||||||||
Global X Internet of Things ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 29.95 | 0.06 | 4.72 | 4.78 | (0.06 | ) | — | |||||||||||||||||
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 | ) | — | |||||||||||||||||
2016(1) | 15.04 | 0.09 | 0.39 | 0.48 | — | — | ||||||||||||||||||
Global X FinTech ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 42.75 | (0.08 | ) | 2.47 | 2.39 | — | — | |||||||||||||||||
2020 | 30.49 | (0.11 | ) | 12.37 | 12.26 | — | — | |||||||||||||||||
2019 | 24.55 | (0.08 | ) | 6.06 | 5.98 | — | — | |||||||||||||||||
2018 | 21.79 | (0.08 | ) | 2.86 | 2.78 | — | (0.02 | ) | ||||||||||||||||
2017 | 14.91 | (0.03 | ) | 6.91 | 6.88 | — | — | |||||||||||||||||
2016(1) | 15.08 | (0.01 | ) | (0.16 | ) | (0.17 | ) | — | — | |||||||||||||||
Global X Video Games & Esports ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 28.57 | 0.05 | 3.94 | 3.99 | (0.20 | ) | *** | |||||||||||||||||
2020 | 15.73 | 0.02 | 12.86 | 12.88 | (0.04 | ) | — | |||||||||||||||||
2019(2) | 14.99 | — | 0.74 | 0.74 | — | — |
117
Financial Highlights | ||
Return of Capital ($) | Total from Distributions ($) | 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 (%)†† | |||||||||||||||||||||||
— | — | 34.28 | 7.87 | 2,536,449 | 0.68 | † | 0.35 | † | 0.62 | |||||||||||||||||||||
(0.01 | ) | (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 | ||||||||||||||||||||||
— | — | 14.87 | 0.20 | 2,974 | 0.68 | † | 0.62 | † | — | |||||||||||||||||||||
— | (0.06 | ) | 34.67 | 15.99 | 437,493 | 0.68 | † | 0.34 | † | 4.16 | ||||||||||||||||||||
— | (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 | ||||||||||||||||||||||
— | — | 15.52 | 3.19 | 3,881 | 0.68 | † | 2.75 | † | 0.39 | |||||||||||||||||||||
— | — | 45.14 | 5.61 | 1,216,183 | 0.68 | † | (0.34 | )† | 8.39 | |||||||||||||||||||||
— | — | 42.75 | 40.21 | 874,175 | 0.68 | (0.33 | ) | 15.75 | ||||||||||||||||||||||
(0.04 | ) | (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 | ||||||||||||||||||||||
— | — | 14.91 | (1.13 | ) | 1,491 | 0.68 | † | (0.20 | )† | — | ||||||||||||||||||||
— | (0.20 | ) | 32.36 | 14.02 | 669,813 | 0.50 | † | 0.23 | † | 11.86 | ||||||||||||||||||||
— | (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 September 12, 2016. |
(2) | The Fund commenced operations on October 25, 2019. |
Amounts designated as “—” are either $0 or have been rounded to $0.
118
Financial Highlights | ||
Selected Per Share Data & Ratios
For a Share Outstanding Throughout the Period
Net Asset Value, Beginning of Period ($) | Net Investment Income (Loss) ($)* | Net Realized and Unrealized Gain (Loss) on Investments ($) | Total from Operations ($) | Distribution from Net Investment Income ($) | Distribution from Capital Gains ($) | |||||||||||||||||||
Global X Autonomous & Electric Vehicles ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 21.75 | 0.08 | 5.87 | 5.95 | (0.02 | ) | — | |||||||||||||||||
2020 | 14.15 | 0.11 | 7.61 | 7.72 | (0.12 | ) | — | |||||||||||||||||
2019 | 13.26 | 0.22 | 1.11 | 1.33 | (0.44 | ) | — | |||||||||||||||||
2018(1) | 15.00 | 0.11 | (1.85 | ) | (1.74 | ) | — | — | ||||||||||||||||
Global X Cloud Computing ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 25.84 | (0.07 | ) | 0.39 | 0.32 | — | — | |||||||||||||||||
2020 | 15.99 | (0.11 | ) | 9.97 | 9.86 | — | (0.01 | ) | ||||||||||||||||
2019(2) | 15.06 | (0.04 | ) | 0.97 | 0.93 | — | — | |||||||||||||||||
Global X Data Center REITs & Digital Infrastructure ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 14.94 | 0.09 | 1.41 | 1.50 | (0.05 | ) | — | |||||||||||||||||
2020(3) | 14.97 | — | (0.03 | ) | (0.03 | ) | — | — | ||||||||||||||||
Global X Cybersecurity ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 22.75 | (0.04 | ) | 4.68 | 4.64 | (0.01 | ) | (0.01 | ) | |||||||||||||||
2020 | 17.14 | 0.09 | 5.67 | 5.76 | (0.13 | ) | (0.02 | ) | ||||||||||||||||
2019(4) | 15.27 | — | 1.87 | 1.87 | — | — |
119
Financial Highlights | ||
Total from Distributions ($) | 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 (%)†† | ||||||||||||||||||||
(0.02 | ) | 27.68 | 27.37 | 900,379 | 0.68 | † | 0.58 | † | 9.69 | |||||||||||||||||
(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 | |||||||||||||||||
— | 26.16 | 1.24 | 1,283,700 | 0.68 | † | (0.54 | )† | 4.18 | ||||||||||||||||||
(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 | ||||||||||||||||||
(0.05 | ) | 16.39 | 10.04 | 54,082 | 0.50 | † | 1.13 | † | 1.34 | |||||||||||||||||
— | 14.94 | (0.20 | ) | 3,736 | 0.50 | † | 0.26 | † | — | |||||||||||||||||
(0.02 | ) | 27.37 | 20.41 | 357,759 | 0.50 | †^ | (0.30 | )† | 9.50 | |||||||||||||||||
(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 were excluded, the ratio would have been 0.56%, 0.60% and 0.60% for the period ended May 31, 2021 and years ended November 30, 2020 and November 30, 2019, respectively. |
(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 $0.
120
Financial Highlights | ||
Selected Per Share Data & Ratios
For a Share Outstanding Throughout the Period
Net Asset Value, Beginning of Period ($) | Net Investment Income (Loss) ($)* | Net Realized and Unrealized Gain (Loss) on Investments ($) | Total from Operations ($) | Distribution from Net Investment Income ($) | Distribution from Capital Gains ($) | |||||||||||||||||||
Global X Artificial Intelligence & Technology ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 25.84 | 0.04 | 3.07 | 3.11 | (0.05 | ) | — | |||||||||||||||||
2020 | 17.35 | 0.17 | 8.44 | 8.61 | (0.12 | ) | — | |||||||||||||||||
2019 | 14.24 | 0.10 | 3.13 | 3.23 | (0.12 | ) | — | |||||||||||||||||
2018(1) | 15.00 | 0.05 | (0.81 | ) | (0.76 | ) | — | — | ||||||||||||||||
Global X Millennial Consumer ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 35.23 | — | 6.09 | 6.09 | (0.06 | ) | — | |||||||||||||||||
2020 | 25.55 | 0.05 | 9.74 | 9.79 | (0.10 | ) | (0.01 | ) | ||||||||||||||||
2019 | 21.57 | 0.10 | 3.99 | 4.09 | (0.10 | ) | (0.01 | ) | ||||||||||||||||
2018 | 19.11 | 0.09 | 2.54 | 2.63 | (0.05 | ) | (0.12 | ) | ||||||||||||||||
2017 | 15.58 | 0.07 | 3.51 | 3.58 | (0.05 | ) | — | |||||||||||||||||
2016(2) | 14.95 | 0.05 | 0.58 | 0.63 | — | — | ||||||||||||||||||
Global X Education ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 17.14 | 0.02 | (2.55 | ) | (2.53 | ) | — | — | ||||||||||||||||
2020(3) | 15.20 | (0.01 | ) | 1.95 | 1.94 | — | — | |||||||||||||||||
Global X Cannabis ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 12.05 | 0.14 | 3.27 | 3.41 | (0.15 | ) | — | |||||||||||||||||
2020 | 15.31 | 0.81 | (3.46 | ) | (2.65 | ) | (0.61 | ) | — | |||||||||||||||
2019(4) | 24.41 | 0.22 | (9.32 | ) | (9.10 | ) | — | — |
121
Financial Highlights | ||
Total from Distributions ($) | 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 (%)†† | ||||||||||||||||||||
(0.05 | ) | 28.90 | 12.07 | 205,447 | 0.68 | † | 0.29 | † | 18.71 | |||||||||||||||||
(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 | ) | 41.26 | 17.30 | 185,242 | 0.50 | † | 0.01 | † | 13.27 | |||||||||||||||||
(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 | ||||||||||||||||||
— | 15.58 | 4.21 | 3,896 | 0.68 | † | 0.59 | † | — | ||||||||||||||||||
— | 14.61 | (14.76 | ) | 13,438 | 0.50 | † | 0.22 | † | 14.64 | |||||||||||||||||
— | 17.14 | 12.76 | 6,856 | 0.51 | † | (0.23 | )† | 10.62 | ||||||||||||||||||
(0.15 | ) | 15.31 | 28.88 | 205,163 | 0.50 | † | 1.79 | † | 70.34 | |||||||||||||||||
(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. |
† | 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 May 4, 2016. |
(3) | The Fund commenced operations on July 10, 2020. |
(4) | The Fund commenced operations on September 17, 2019. |
122
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 ($) | Distribution from Capital Gains ($) | |||||||||||||||||||
Global X Genomics & Biotechnology ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 21.01 | (0.04 | ) | 0.58 | 0.54 | — | (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 (Unaudited) | 14.88 | (0.03 | ) | 4.10 | 4.07 | — | — | |||||||||||||||||
2020(2) | 15.09 | (0.02 | ) | (0.19 | ) | (0.21 | ) | — | — | |||||||||||||||
Global X Telemedicine & Digital Health ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 18.41 | (0.05 | ) | 0.07 | 0.02 | (0.01 | ) | — | ||||||||||||||||
2020(3) | 15.23 | 0.01 | 3.17 | 3.18 | — | — | ||||||||||||||||||
Global X Aging Population ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 26.82 | 0.05 | 2.37 | 2.42 | (0.05 | ) | — | |||||||||||||||||
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 | ) | ||||||||||||||||
2016(4) | 15.32 | 0.07 | (0.22 | ) | (0.15 | ) | — | — |
123
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 | ) | 21.52 | 2.56 | 201,013 | 0.50 | † | (0.32 | )† | 11.55 | |||||||||||||||||
— | 21.01 | 34.59 | 81,951 | 0.56 | ‡ | (0.40 | ) | 29.76 | ||||||||||||||||||
— | 15.61 | 2.16 | 18,734 | 0.68 | † | (0.59 | )† | 23.12 | ||||||||||||||||||
— | 18.95 | 27.35 | 6,632 | 0.66 | † | (0.38 | )† | 19.55 | ||||||||||||||||||
— | 14.88 | (1.39 | ) | 2,232 | 0.67 | † | (0.65 | )† | 10.48 | |||||||||||||||||
(0.01 | ) | 18.42 | 0.09 | 734,709 | 0.68 | † | (0.53 | )† | 25.99 | |||||||||||||||||
— | 18.41 | 20.88 | 490,675 | 0.68 | † | 0.18 | † | 9.67 | ||||||||||||||||||
(0.05 | ) | 29.19 | 9.05 | 44,075 | 0.50 | † | 0.39 | † | 22.86 | |||||||||||||||||
(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 | ||||||||||||||||||
— | 15.17 | (0.98 | ) | 1,517 | 0.68 | † | 0.78 | † | 2.76 |
* | 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. |
(4) | The Fund commenced operations on May 9, 2016. |
Amounts designated as “—” are either $0 or have been rounded to $0.
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Financial Highlights | ||
Selected Per Share Data & Ratios
For a Share Outstanding Throughout the Period
Net Asset Value, Beginning of Period ($) | Net Investment Income (Loss) ($)* | Net Realized and Unrealized Gain (Loss) on Investments ($) | Total from Operations ($) | Distribution from Net Investment Income ($) | Distribution from Capital Gains ($) | |||||||||||||||||||
Global X Health & Wellness ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 24.11 | 0.09 | 5.22 | 5.31 | (0.10 | ) | — | |||||||||||||||||
2020 | 21.17 | 0.10 | 2.92 | 3.02 | (0.08 | ) | — | |||||||||||||||||
2019 | 18.59 | 0.14 | 2.60 | 2.74 | (0.16 | ) | — | |||||||||||||||||
2018 | 16.75 | 0.14 | 2.18 | 2.32 | (0.15 | ) | (0.33 | ) | ||||||||||||||||
2017 | 14.72 | 0.17 | 1.94 | 2.11 | (0.08 | ) | — | |||||||||||||||||
2016(1) | 15.13 | 0.07 | (0.48 | ) | (0.41 | ) | — | — | ||||||||||||||||
Global X CleanTech ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 19.02 | (0.03 | ) | 0.27 | 0.24 | *** | — | |||||||||||||||||
2020(2) | 15.07 | 0.02 | 3.93 | 3.95 | — | — | ||||||||||||||||||
Global X U.S. Infrastructure Development ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 20.24 | 0.09 | 6.19 | 6.28 | (0.05 | ) | — | |||||||||||||||||
2020 | 17.43 | 0.16 | 2.74 | 2.90 | (0.09 | ) | — | |||||||||||||||||
2019 | 15.57 | 0.13 | 1.90 | 2.03 | (0.17 | ) | — | |||||||||||||||||
2018 | 16.16 | 0.14 | (0.68 | ) | (0.54 | ) | (0.05 | ) | — | |||||||||||||||
2017(3) | 14.98 | 0.10 | 1.08 | 1.18 | — | — | ||||||||||||||||||
Global X Clean Water ETF | ||||||||||||||||||||||||
2021(4) (Unaudited) | 15.04 | 0.05 | 0.82 | 0.87 | — | — | ||||||||||||||||||
Global X Thematic Growth ETF | ||||||||||||||||||||||||
2021 (Unaudited) | 42.45 | 0.23 | 6.09 | 6.32 | (0.19 | ) | — | |||||||||||||||||
2020 | 26.50 | 0.10 | 15.96 | 16.06 | (0.11 | ) | — | |||||||||||||||||
2019(5) | 25.23 | — | 1.27 | 1.27 | — | — |
125
Financial Highlights | ||
Total from Distributions ($) | 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 (%)†† | ||||||||||||||||||||
(0.10 | ) | 29.32 | 22.08 | 33,133 | 0.50 | † | 0.69 | † | 14.53 | |||||||||||||||||
(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 | ||||||||||||||||||
— | 14.72 | (2.71 | ) | 1,472 | 0.68 | † | 0.82 | † | — | |||||||||||||||||
— | 19.26 | 1.28 | 132,894 | 0.50 | † | (0.25 | )† | 23.75 | ||||||||||||||||||
— | 19.02 | 26.21 | 28,523 | 0.50 | † | 1.18 | † | — | ||||||||||||||||||
(0.05 | ) | 26.47 | 31.12 | 3,695,367 | 0.47 | † | 0.74 | † | 15.50 | |||||||||||||||||
(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 | † | — | ||||||||||||||||||
— | 15.91 | 5.78 | 3,182 | 0.50 | † | 2.15 | † | — | ||||||||||||||||||
(0.19 | ) | 48.58 | 14.90 | 101,525 | (0.13 | )†‡ | 0.95 | † | 17.53 | |||||||||||||||||
(0.11 | ) | 42.45 | 60.81 | 36,081 | (0.12 | )‡ | 0.29 | 103.23 | ||||||||||||||||||
— | 26.50 | 5.03 | 2,650 | (0.15 | )†‡ | 0.15 | † | — |
* | 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. |
‡ | 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%. |
126
Financial Highlights | ||
^ | 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 May 9, 2016. |
(2) | The Fund commenced operations on October 27, 2020. |
(3) | The Fund commenced operations on March 6, 2017. |
(4) | The Fund commenced operations on April 8, 2021. |
(5) | The Fund commenced operations on October 25, 2019. |
Amounts designated as “—” are either $0 or have been rounded to $0.
127
May 31, 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, as an open-end management investment company. As of May 31, 2021, the Trust had ninety-nine portfolios, eighty-one 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 Clean Water ETF and Global X Thematic Growth 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.
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
128
Notes to Financial Statements (Unaudited) (continued) | ||
May 31, 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 will be valued at their market value. The prices for foreign securities are reported in local currency and converted to U.S. dollars using currency exchange rates as of reporting date. The exchange rates used by the Trust for valuation are captured as of the New York or London close each day. Prices for most securities held in the Funds are provided daily by recognized independent pricing agents. If a security price cannot be obtained from an independent, third-party pricing agent, the Funds seek to obtain a bid price from at least one independent broker.
Securities for which market prices are not “readily available” are valued in accordance with Fair Value Procedures established by the Board of Trustees (the “Board”). 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, the Funds may fair value their securities if an event that may materially affect the value of the Funds’ securities 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 Funds calculate their net asset values. A Significant Event may relate to a single issuer or to an entire market sector. Events that may be Significant Events include:
129
Notes to Financial Statements (Unaudited) (continued) | ||
May 31, 2021 |
2. SIGNIFICANT ACCOUNTING POLICIES (continued)
government actions, natural disasters, armed conflict, acts of 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 net asset values, 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 May 31, 2021, Global X CleanTech ETF had one fair valued security valued at $4,532,524. 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 net asset value 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 net asset value 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.
130
Notes to Financial Statements (Unaudited) (continued) | ||
May 31, 2021 |
2. SIGNIFICANT ACCOUNTING POLICIES (continued)
For the period ended May 31, 2021 there have been no significant changes to the Funds’ fair valuation methodologies.
The following table summarizes the quantitative inputs and assumptions used for items categorized as material Level 3 investments as of May 31, 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 CleanTech ETF
Assets | Fair Value at 05/31/21 | Valuation Technique(s) | Unobservable Input | Discount Percentage |
Common Stock | $4,532,524 | Discount from the Last Traded Price | Last Traded Price Comparability Adjustment % | 13.6% |
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.
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 its 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 other party to a repurchase agreement defaults on its obligations, and the Funds are prevented from exercising their rights to dispose of the underlying securities received as collateral and the risk of a possible decline in the value of the underlying securities during the period. For financial statement purposes, the Funds record the securities lending collateral (included in repurchase agreements, at value or restricted cash) as an asset and the obligation to return securities lending collateral as a liability on the Statements of Assets and Liabilities. Repurchase agreements are entered into by the Funds under Master Repurchase Agreements (“MRA”) which permit the Funds, under certain circumstances, including an event of default (such as bankruptcy or insolvency), to offset payables and/or receivables under an MRA with collateral held and/or posted to the counterparty and create one single net payment due to or from the Funds.
131
Notes to Financial Statements (Unaudited) (continued) | ||
May 31, 2021 |
2. SIGNIFICANT ACCOUNTING POLICIES (continued)
At May 31, 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 | $ | 80,889,413 | $ | 80,889,413 | $ | − | $ | − | ||||||||
Global X Internet of Things ETF | ||||||||||||||||
BNP Paribas | $ | 4,180,906 | $ | 4,180,906 | $ | − | $ | − | ||||||||
Global X FinTech ETF | ||||||||||||||||
BNP Paribas | $ | 21,748,566 | $ | 21,748,566 | $ | − | $ | − | ||||||||
Global X Video Games & Esports ETF | ||||||||||||||||
BNP Paribas | $ | 1,349,169 | $ | 1,349,169 | $ | − | $ | − | ||||||||
Global X Autonomous & Electric Vehicles ETF | ||||||||||||||||
BNP Paribas | $ | 10,195,643 | $ | 10,195,643 | $ | − | $ | − | ||||||||
Global X Cloud Computing ETF | ||||||||||||||||
BNP Paribas | $ | 15,211,675 | $ | 15,211,675 | $ | − | $ | − | ||||||||
Global X Artificial Intelligence & Technology ETF | ||||||||||||||||
BNP Paribas | $ | 599,015 | $ | 599,015 | $ | − | $ | − | ||||||||
Global X Cannabis ETF | ||||||||||||||||
BNP Paribas | $ | 21,078,306 | $ | 21,078,306 | $ | − | $ | − | ||||||||
Global X Genomics & Biotechnology ETF | ||||||||||||||||
BNP Paribas | $ | 3,735,751 | $ | 3,735,751 | $ | − | $ | − | ||||||||
Global X Telemedicine & Digital Health ETF | ||||||||||||||||
BNP Paribas | $ | 14,677,742 | $ | 14,677,742 | $ | − | $ | − | ||||||||
Global X U.S. Infrastructure Development ETF | ||||||||||||||||
BNP Paribas | $ | 10,238,734 | $ | 10,238,734 | $ | − | $ | − | ||||||||
Global X Thematic Growth ETF | ||||||||||||||||
BNP Paribas | $ | 5,657,236 | $ | 5,657,236 | $ | − | $ | − |
(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.
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; however, management’s conclusions regarding tax positions may be subject to review and adjustment at a later date based on factors including, but not limited to, examination by tax authorities (i.e., the last three tax year ends, as applicable), and on-going analysis of and changes to tax
132
Notes to Financial Statements (Unaudited) (continued) | ||
May 31, 2021 |
2. SIGNIFICANT ACCOUNTING POLICIES (continued)
laws, and regulations and interpretations thereof. Any foreign tax filings that have not been made will be filed within the prescribed period.
As of and during the period ended May 31, 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 Statement 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 ex-dividend date.
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 Statement of Operations.
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 Statement 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.
133
Notes to Financial Statements (Unaudited) (continued) | ||
May 31, 2021 |
2. SIGNIFICANT ACCOUNTING POLICIES (continued)
CREATION UNITS — The Funds issue and redeem their shares (“Shares”) on a continuous basis at net asset value (“NAV”) and only in large blocks of 10,000 Shares, referred to as “Creation Units”. Purchasers of Creation Units (“Authorized Participants”) at NAV must pay a standard creation transaction fee per transaction. The fee is a single charge and will be the same regardless of the number of Creation Units purchased by an Authorized Participant on the same day.
An Authorized Participant who holds Creation Units and wishes to redeem at NAV would also pay a standard redemption fee per transaction to BBH, the Funds’ custodian, 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:
Creation Unit Shares | Creation Fee | Value at May 31, 2021 | Redemption Fee | |||||||||||||
Global X Robotics & Artificial Intelligence ETF | 10,000 | $ | 600 | $ | 342,800 | $ | 600 | |||||||||
Global X Internet of Things ETF | 10,000 | 600 | 346,700 | 600 | ||||||||||||
Global X FinTech ETF | 10,000 | 400 | 451,400 | 400 | ||||||||||||
Global X Video Games & Esports ETF | 10,000 | 600 | 323,600 | 600 | ||||||||||||
Global X Autonomous & Electric Vehicles ETF | 10,000 | 700 | 276,800 | 700 | ||||||||||||
Global X Cloud Computing ETF | 10,000 | 250 | 261,600 | 250 | ||||||||||||
Global X Data Center REITs & Digital Infrastructure ETF | 10,000 | 300 | 163,900 | 300 | ||||||||||||
Global X Cybersecurity ETF | 10,000 | 250 | 273,700 | 250 | ||||||||||||
Global X Artificial Intelligence & Technology ETF | 10,000 | 600 | 289,000 | 600 | ||||||||||||
Global X Millennial Consumer ETF | 10,000 | 300 | 412,600 | 300 | ||||||||||||
Global X Education ETF | 10,000 | 500 | 146,100 | 500 | ||||||||||||
Global X Cannabis ETF | 10,000 | 250 | 153,100 | 250 | ||||||||||||
Global X Genomics & Biotechnology ETF | 10,000 | 250 | 215,200 | 250 | ||||||||||||
Global X China Biotech Innovation ETF | 10,000 | 600 | 189,500 | 600 | ||||||||||||
Global X Telemedicine & Digital Health ETF | 10,000 | 250 | 184,200 | 250 | ||||||||||||
Global X Aging Population ETF | 10,000 | 800 | 291,900 | 800 | ||||||||||||
Global X Health & Wellness ETF | 10,000 | 800 | 293,200 | 800 | ||||||||||||
Global X CleanTech ETF | 10,000 | 600 | 192,600 | 600 | ||||||||||||
Global X U.S. Infrastructure Development ETF | 10,000 | 400 | 264,700 | 400 | ||||||||||||
Global X Clean Water ETF | 10,000 | 500 | 159,100 | 500 | ||||||||||||
Global X Thematic Growth ETF | 10,000 | 250 | 485,700 | 250 |
134
Notes to Financial Statements (Unaudited) (continued) | ||
May 31, 2021 |
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.
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 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), respectively.
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 period ended May 31, 2021, the Adviser paid the costs for the acquired fund fees of $244,361.
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May 31, 2021 |
3. RELATED PARTY TRANSACTIONS AND SERVICE PROVIDER TRANSACTIONS (continued)
The following table discloses the rates of supervision and administration fees paid by the Funds:
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 Clean Water ETF | 0.50% |
Global X Thematic Growth 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 fund expenses to the extent necessary to assure that the operating expenses of the Global X Health & Wellness ETF, Global X Aging Population ETF and the Global X Millennial Consumer 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 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,
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May 31, 2021 |
3. RELATED PARTY TRANSACTIONS AND SERVICE PROVIDER TRANSACTIONS (continued)
waived or reimbursed fees prior to April 1, 2020 are still subject to recoupment. As of May 31, 2021, the amounts of waivers/reimbursements subject to recoupment for the Global X Health & Wellness ETF, Global X Aging Population ETF and Global X Millennial Consumer ETF, were $11,634 expiring 2021, $8,496 expiring 2022; $23,346 expiring 2021, $9,461 expiring 2022; $41,063 expiring 2021 and $18,918 expiring 2022, respectively. As of May 31, 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 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 per year 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 of Trustees 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 May 31, 2021, the amounts of waivers/reimbursements subject to recoupment for the Fund were $102,748 expiring in 2021 and $44,734 expiring in 2022. As of May 31, 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 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 per year 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 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
137
Notes to Financial Statements (Unaudited) (continued) | ||
May 31, 2021 |
3. RELATED PARTY TRANSACTIONS AND SERVICE PROVIDER TRANSACTIONS (continued)
obligation to sell any specific quantity of Shares. SIDCO bears the following costs and expenses relating to the distribution of Shares: (1) the costs of processing and maintaining records of creations of Creation Units; (2) all costs of maintaining the records required of a registered broker/dealer; (3) the expenses of maintaining its registration or qualification as a dealer or broker under federal or state laws; (4) filing fees; and (5) all other expenses incurred in connection with the distribution services as contemplated in the distribution agreement. SIDCO receives no fee from the Funds for its distribution services under the distribution agreement; rather, the Adviser compensates SIDCO for certain expenses, out-of-pocket costs, and transaction fees.
BBH serves as custodian and transfer agent of the Funds’ assets. 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 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.
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Notes to Financial Statements (Unaudited) (continued) | ||
May 31, 2021 |
4. INVESTMENT TRANSACTIONS
For the period ended May 31, 2021, the purchases and sales of investments in securities excluding in-kind transactions, long-term U.S. Government, and short-term securities, were:
2021 | Purchases | Sales and Maturities | ||||||
Global X Robotics & Artificial Intelligence ETF | $ | 19,102,733 | $ | 15,152,406 | ||||
Global X Internet of Things ETF | 26,323,314 | 15,837,008 | ||||||
Global X FinTech ETF | 94,447,269 | 94,701,933 | ||||||
Global X Video Games & Esports ETF | 105,905,100 | 81,259,370 | ||||||
Global X Autonomous & Electric Vehicles ETF | 125,423,004 | 63,328,068 | ||||||
Global X Cloud Computing ETF | 59,686,168 | 63,944,427 | ||||||
Global X Data Center REITs & Digital Infrastructure ETF | 4,236,889 | 312,184 | ||||||
Global X Cybersecurity ETF | 46,006,707 | 43,472,933 | ||||||
Global X Artificial Intelligence & Technology ETF | 45,119,934 | 34,115,506 | ||||||
Global X Millennial Consumer ETF | 20,373,143 | 20,748,739 | ||||||
Global X Education ETF | 2,378,563 | 1,674,500 | ||||||
Global X Cannabis ETF | 94,853,997 | 96,299,113 | ||||||
Global X Genomics & Biotechnology ETF | 19,824,992 | 19,252,140 | ||||||
Global X China Biotech Innovation ETF | 3,764,906 | 893,480 | ||||||
Global X Telemedicine & Digital Health ETF | 202,167,847 | 185,169,832 | ||||||
Global X Aging Population ETF | 10,644,865 | 10,213,716 | ||||||
Global X Health & Wellness ETF | 5,332,712 | 3,783,975 | ||||||
Global X CleanTech ETF | 68,100,244 | 31,135,444 | ||||||
Global X U.S. Infrastructure Development ETF | 292,763,841 | 291,490,057 | ||||||
Global X Clean Water ETF | 361,253 | − | ||||||
Global X Thematic Growth ETF | 13,201,492 | 13,221,835 |
139
Notes to Financial Statements (Unaudited) (continued) | ||
May 31, 2021 |
4. INVESTMENT TRANSACTIONS (continued)
For the period ended May 31, 2021, in-kind transactions associated with creations and redemptions were:
2021 | Purchases | Sales | Realized Gain/(Loss) | |||||||||
Global X Robotics & Artificial Intelligence ETF | $ | 392,619,964 | $ | 177,876,939 | $ | 70,129,308 | ||||||
Global X Internet of Things ETF | 85,879,259 | 5,853,786 | 2,702,825 | |||||||||
Global X FinTech ETF | 347,169,575 | 38,134,772 | 16,675,682 | |||||||||
Global X Video Games & Esports ETF | 401,395,427 | 289,590,562 | 103,106,099 | |||||||||
Global X Autonomous & Electric Vehicles ETF | 747,216,109 | 108,711,660 | 41,490,130 | |||||||||
Global X Cloud Computing ETF | 150,903,615 | 286,863,396 | 110,676,498 | |||||||||
Global X Data Center REITs & Digital Infrastructure ETF | 44,985,643 | 796,941 | 160,761 | |||||||||
Global X Cybersecurity ETF | 893,789,315 | 562,407,775 | 11,784,576 | |||||||||
Global X Artificial Intelligence & Technology ETF | 109,367,289 | 50,259,505 | 22,657,588 | |||||||||
Global X Millennial Consumer ETF | 99,269,888 | 49,025,262 | 25,487,462 | |||||||||
Global X Education ETF | 8,876,876 | − | − | |||||||||
Global X Cannabis ETF | 260,299,743 | 49,950,750 | 24,572,961 | |||||||||
Global X Genomics & Biotechnology ETF | 164,262,610 | 28,352,255 | 11,618,904 | |||||||||
Global X China Biotech Innovation ETF | 630,424 | − | − | |||||||||
Global X Telemedicine & Digital Health ETF | 319,004,250 | 69,123,864 | 16,381,038 | |||||||||
Global X Aging Population ETF | 16,521,553 | 19,845,490 | 8,006,911 | |||||||||
Global X Health & Wellness ETF | 11,952,531 | 6,070,729 | 1,817,874 | |||||||||
Global X CleanTech ETF | 129,745,229 | 18,553,541 | 366,316 | |||||||||
Global X U.S. Infrastructure Development ETF | 2,666,930,968 | 50,880,495 | 19,521,149 | |||||||||
Global X Clean Water ETF | 2,699,720 | − | − | |||||||||
Global X Thematic Growth ETF | 102,400,759 | 34,877,748 | 10,769,933 |
For the period ended May 31, 2021, there were no purchases or sales of long-term U.S. Government securities by the Funds.
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Notes to Financial Statements (Unaudited) (continued) | ||
May 31, 2021 |
4. INVESTMENT TRANSACTIONS (continued)
For the year ended November 30, 2020, in-kind transactions associated with creations and redemptions were:
2020 | Purchases | Sales | 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 |
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.
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May 31, 2021 |
5. TAX INFORMATION (continued)
The tax character of dividends and distributions declared during the years or periods ended November 30, 2020 and November 30, 2019 were as follows:
Global X Funds | Ordinary Income | Long-Term Capital Gain | Return of Capital | Totals | ||||||||||||
Global X Robotics & Artificial Intelligence ETF | ||||||||||||||||
2020 | $ | 5,209,655 | $ | – | $ | 891,490 | $ | 6,101,145 | ||||||||
2019 | 30,149,775 | – | – | 30,149,775 | ||||||||||||
Global X Internet of Things ETF | ||||||||||||||||
2020 | $ | 1,147,071 | $ | – | $ | – | $ | 1,147,071 | ||||||||
2019 | 1,268,719 | – | – | 1,268,719 | ||||||||||||
Global X FinTech ETF | ||||||||||||||||
2020 | $ | – | $ | – | $ | – | $ | – | ||||||||
2019 | – | 60,368 | 437,339 | 497,707 | ||||||||||||
Global X Video Games & Esports ETF | ||||||||||||||||
2020 | $ | 67,560 | $ | – | $ | – | $ | 67,560 | ||||||||
2019 | – | – | – | – | ||||||||||||
Global X Autonomous & Electric Vehicles ETF | ||||||||||||||||
2020 | $ | 148,067 | $ | – | $ | – | $ | 148,067 | ||||||||
2019 | 415,562 | – | – | 415,562 | ||||||||||||
Global X Cloud Computing ETF | ||||||||||||||||
2020 | $ | 158,369 | $ | 57,631 | $ | – | $ | 216,000 | ||||||||
2019 | – | – | – | – | ||||||||||||
Global X Data Center REITs & Digital Infrastructure ETF | ||||||||||||||||
2020 | $ | – | $ | – | $ | – | $ | – | ||||||||
Global X Cybersecurity ETF | ||||||||||||||||
2020 | $ | 130,636 | $ | – | $ | – | $ | 130,636 | ||||||||
2019 | – | – | – | – | ||||||||||||
Global X Artificial Intelligence & Technology ETF | ||||||||||||||||
2020 | $ | 293,815 | $ | – | $ | – | $ | 293,815 | ||||||||
2019 | 298,087 | – | – | 298,087 | ||||||||||||
Global X Millennial Consumer ETF | ||||||||||||||||
2020 | $ | 295,120 | $ | 31,340 | $ | – | $ | 326,460 | ||||||||
2019 | 147,679 | 27,133 | – | 174,812 | ||||||||||||
Global X Education ETF | ||||||||||||||||
2020 | $ | – | $ | – | $ | – | $ | – | ||||||||
Global X Cannabis ETF | ||||||||||||||||
2020 | $ | 501,916 | $ | – | $ | – | $ | 501,916 | ||||||||
2019 | – | – | – | – | ||||||||||||
Global X Genomics & Biotechnology ETF | ||||||||||||||||
2020 | $ | – | $ | – | $ | – | $ | – | ||||||||
2019 | – | – | – | – |
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May 31, 2021 |
5. TAX INFORMATION (continued)
Global X Funds | Ordinary Income | Long-Term Capital Gain | Return of Capital | Totals | ||||||||||||
Global X China Biotech Innovation ETF | ||||||||||||||||
2020 | $ | – | $ | – | $ | – | $ | – | ||||||||
Global X Telemedicine & Digital Health ETF | ||||||||||||||||
2020 | $ | – | $ | – | $ | – | $ | – | ||||||||
Global X Aging Population ETF | ||||||||||||||||
2020 | $ | 161,566 | $ | 45,724 | $ | – | $ | 207,290 | ||||||||
2019 | 146,505 | 38,656 | – | 185,161 | ||||||||||||
Global X Health & Wellness ETF | ||||||||||||||||
2020 | $ | 95,104 | $ | – | $ | – | $ | 95,104 | ||||||||
2019 | 120,454 | – | – | 120,454 | ||||||||||||
Global X CleanTech ETF | ||||||||||||||||
2020 | $ | – | $ | – | $ | – | $ | – | ||||||||
Global X U.S. Infrastructure Development ETF | ||||||||||||||||
2020 | $ | 1,004,004 | $ | – | $ | – | $ | 1,004,004 | ||||||||
2019 | 1,424,719 | – | – | 1,424,719 | ||||||||||||
Global X Thematic Growth ETF | ||||||||||||||||
2020 | $ | 16,854 | $ | – | $ | – | $ | 16,854 | ||||||||
2019 | – | – | – | – |
As of November 30, 2020, 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 | $ | – | $ | 573,082 | $ | – | ||||||
Capital Loss Carryforwards | (153,940,794 | ) | (3,531,785 | ) | (32,354,648 | ) | ||||||
Unrealized Appreciation on Investments and Foreign Currency | 434,515,422 | 59,877,129 | 278,703,976 | |||||||||
Late Year Loss Deferral | – | – | (1,681,347 | ) | ||||||||
Other Temporary Differences | – | (4 | ) | 2 | ||||||||
Total Distributable Earnings | $ | 280,574,628 | $ | 56,918,422 | $ | 244,667,983 |
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May 31, 2021 |
5. TAX INFORMATION (continued)
Global X Funds | ||||||||||||
Global X Video Games & Esports ETF | Global X Autonomous & Electric Vehicles ETF | Global X Cloud Computing ETF | ||||||||||
Undistributed Ordinary Income | $ | 3,746,903 | $ | 111,443 | $ | – | ||||||
Post October Losses | (307,637 | ) | – | – | ||||||||
Capital Loss Carryforwards | – | (1,044,455 | ) | (1,533,536 | ) | |||||||
Unrealized Appreciation on Investments and Foreign Currency | 65,915,322 | 19,930,690 | 248,081,412 | |||||||||
Late Year Loss Deferral | – | – | (3,928,473 | ) | ||||||||
Other Temporary Differences | (1 | ) | 1 | – | ||||||||
Total Distributable Earnings | $ | 69,354,587 | $ | 18,997,679 | $ | 242,619,403 |
Global X Funds | ||||||||||||
Global X Data Center REITs & Digital Infrastructure ETF | Global X Cybersecurity ETF | Global X Artificial Intelligence & Technology ETF | ||||||||||
Undistributed Ordinary Income | $ | 668 | $ | 87,400 | $ | 284,523 | ||||||
Undistributed Long-Term Capital Gain | – | 2,479 | – | |||||||||
Capital Loss Carryforwards | – | – | (618,443 | ) | ||||||||
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency | (8,833 | ) | 4,466,305 | 23,544,099 | ||||||||
Other Temporary Differences | – | 3 | (1 | ) | ||||||||
Total Distributable Earnings (Accumulated Losses) | $ | (8,165 | ) | $ | 4,556,187 | $ | 23,210,178 |
Global X Funds | ||||||||||||
Global X Millennial Consumer ETF | Global X Education ETF | Global X Cannabis ETF | ||||||||||
Undistributed Ordinary Income | $ | 96,149 | $ | – | $ | 444,914 | ||||||
Post October Losses | – | (215,826 | ) | – | ||||||||
Capital Loss Carryforwards | (910,515 | ) | – | (1,760,034 | ) | |||||||
Unrealized Appreciation on Investments and Foreign Currency | 27,867,859 | 446,036 | 3,359,995 | |||||||||
Late Year Loss Deferral | – | (4,505 | ) | – | ||||||||
Other Temporary Differences | 1 | – | (1 | ) | ||||||||
Total Distributable Earnings | $ | 27,053,494 | $ | 225,705 | $ | 2,044,874 |
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May 31, 2021 |
5. TAX INFORMATION (continued)
Global X Funds | ||||||||||||
Global X Genomics & Biotechnology ETF | Global X China Biotech Innovation ETF | Global X Telemedicine & Digital Health ETF | ||||||||||
Undistributed Ordinary Income | $ | 157,142 | $ | – | $ | 193,304 | ||||||
Post October Losses | (32,560 | ) | (554 | ) | (1,378,964 | ) | ||||||
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency | 12,953,072 | (62,743 | ) | 53,383,660 | ||||||||
Late Year Loss Deferral | – | (2,324 | ) | – | ||||||||
Other Temporary Differences | 2 | – | – | |||||||||
Total Distributable Earnings (Accumulated Losses) | $ | 13,077,656 | $ | (65,621 | ) | $ | 52,198,000 |
Global X Funds | ||||||||||||
Global X Aging Population ETF | Global X Health & Wellness ETF | Global X CleanTech ETF | ||||||||||
Undistributed Ordinary Income | $ | 78,341 | $ | 51,423 | $ | 7,906 | ||||||
Capital Loss Carryforwards | (279,357 | ) | (273,446 | ) | – | |||||||
Unrealized Appreciation on Investments and Foreign Currency | 6,473,677 | 1,294,711 | 2,447,006 | |||||||||
Total Distributable Earnings | $ | 6,272,661 | $ | 1,072,688 | $ | 2,454,912 |
Global X Funds | ||||||||||||
Global X U.S. Infrastructure Development ETF | Global X Clean Water ETF | Global X Thematic Growth ETF | ||||||||||
Undistributed Ordinary Income | $ | 1,554,592 | $ | – | $ | 16,592 | ||||||
Capital Loss Carryforwards | – | – | (117,716 | ) | ||||||||
Unrealized Appreciation on Investments and Foreign Currency | 66,887,584 | – | 4,908,265 | |||||||||
Other Temporary Differences | 1 | – | (2 | ) | ||||||||
Total Distributable Earnings | $ | 68,442,177 | $ | – | $ | 4,807,139 |
Qualified late year ordinary and Post-October capital losses (including currency and specified gain/loss items) represent losses realized from January 1, 2020 through November 30, 2020 and November 1, 2020 through November 30, 2020, 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.
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May 31, 2021 |
5. TAX INFORMATION (continued)
For taxable years beginning after December 22, 2010, a registered investment company (“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 | $ | 88,408,676 | $ | 65,532,118 | $ | 153,940,794 | ||||||
Global X Internet of Things ETF | 2,416,287 | 1,115,498 | 3,531,785 | |||||||||
Global X FinTech ETF | 10,983,240 | 21,371,408 | 32,354,648 | |||||||||
Global X Autonomous & Electric Vehicles ETF | 625,088 | 419,367 | 1,044,455 | |||||||||
Global X Cloud Computing ETF | 1,533,536 | − | 1,533,536 | |||||||||
Global X Artificial Intelligence & Technology ETF | 461,246 | 157,197 | 618,443 | |||||||||
Global X Millennial Consumer ETF | 883,232 | 27,283 | 910,515 | |||||||||
Global X Cannabis ETF | 1,613,335 | 146,699 | 1,760,034 | |||||||||
Global X Aging Population ETF | 77,714 | 201,643 | 279,357 | |||||||||
Global X Health & Wellness ETF | 174,997 | 98,449 | 273,446 | |||||||||
Global X Thematic Growth ETF | 117,716 | − | 117,716 |
During the year ended November 30, 2020 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 | $ | 15,634,206 | $ | − | $ | 15,634,206 | ||||||
Global X Autonomous & Electric Vehicles ETF | 99,333 | − | 99,333 | |||||||||
Global X Artificial Intelligence & Technology ETF | 35,523.00 | − | 35,523 | |||||||||
Global X U.S. Infrastructure Development ETF | 515,103 | − | 515,103 |
146
Notes to Financial Statements (Unaudited) (continued) | ||
May 31, 2021 |
5. TAX INFORMATION (continued)
The Federal tax cost and aggregate gross unrealized appreciation and depreciation on investments held by the Funds at May 31, 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 | $ | 2,166,618,553 | $ | 642,754,180 | $ | (112,825,440 | ) | $ | 529,928,740 | |||||||
Global X Internet of Things ETF | 340,427,889 | 106,990,768 | (2,028,138 | ) | 104,962,630 | |||||||||||
Global X FinTech ETF | 959,143,910 | 328,476,762 | (27,729,961 | ) | 300,746,801 | |||||||||||
Global X Video Games & Esports ETF | 652,200,469 | 54,159,854 | (34,785,081 | ) | 19,374,773 | |||||||||||
Global X Autonomous & Electric Vehicles ETF | 874,095,247 | 96,013,960 | (50,317,065 | ) | 45,696,895 | |||||||||||
Global X Cloud Computing ETF | 1,147,516,665 | 195,122,378 | (28,845,375 | ) | 166,277,003 | |||||||||||
Global X Data Center REITs & Digital Infrastructure ETF | 51,999,205 | 3,102,787 | (1,127,517 | ) | 1,975,270 | |||||||||||
Global X Cybersecurity ETF | 383,605,863 | 13,611,474 | (39,323,650 | ) | (25,712,176 | ) | ||||||||||
Global X Artificial Intelligence & Technology ETF | 189,592,892 | 22,700,390 | (5,905,264 | ) | 16,795,126 | |||||||||||
Global X Millennial Consumer ETF | 161,399,846 | 25,680,424 | (1,963,015 | ) | 23,717,409 | |||||||||||
Global X Education ETF | 15,753,282 | 846,181 | (3,240,605 | ) | (2,394,424 | ) | ||||||||||
Global X Cannabis ETF | 262,226,588 | 13,376,856 | (27,330,565 | ) | (13,953,709 | ) | ||||||||||
Global X Genomics & Biotechnology ETF | 216,226,205 | 15,516,260 | (23,185,913 | ) | (7,669,653 | ) | ||||||||||
Global X China Biotech Innovation ETF | 5,768,522 | 982,229 | (131,473 | ) | 850,756 | |||||||||||
Global X Telemedicine & Digital Health ETF | 744,350,849 | 75,505,574 | (56,101,724 | ) | 19,403,850 | |||||||||||
Global X Aging Population ETF | 40,617,608 | 4,486,024 | (1,152,315 | ) | 3,333,709 | |||||||||||
Global X Health & Wellness ETF | 28,170,100 | 5,746,214 | (842,615 | ) | 4,903,599 | |||||||||||
Global X CleanTech ETF | 163,811,172 | 1,294,559 | (31,806,155 | ) | (30,511,596 | ) | ||||||||||
Global X U.S. Infrastructure Development ETF | 3,223,059,821 | 494,846,011 | (8,041,693 | ) | 486,804,318 | |||||||||||
Global X Clean Water ETF | 3,060,973 | 141,517 | (30,172 | ) | 111,345 | |||||||||||
Global X Thematic Growth ETF | 117,673,716 | 417,553 | (5,154,374 | ) | (4,736,821 | ) |
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.
147
Notes to Financial Statements (Unaudited) (continued) | ||
May 31, 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.
The Funds may be subject to taxes imposed by countries in which they invest. Such taxes are generally based on either income or gains earned or repatriated. The Funds accrue and apply such taxes to net investment income, net realized gains and net unrealized gains as income and/or capital gains are earned. 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.
A more complete description of risks is included in each Fund’s Prospectus and Statement of Additional Information.
148
Notes to Financial Statements (Unaudited) (continued) | ||
May 31, 2021 |
7. LOANS OF PORTFOLIO SECURITIES
The Funds may lend portfolio securities having a market value up to one-third of the Funds’ 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% for U.S.-based securities and 105% for foreign-based securities. Such collateral will be cash or securities issued or guaranteed by the U.S. Government or any agencies. Cash collateral received in connection with these loans can be invested in repurchase agreements, short-term investments, or U.S. Treasury obligations and is accounted for in the Schedules of Investments and Statements of Assets and Liabilities. The obligation to return securities lending collateral is also recognized as a liability in the Statements of Assets and Liabilities. It is the Funds’ policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan.
Lending securities entails a risk of loss to the Funds if and to the extent that the market values of the securities loaned were to increase and the borrower did not increase the collateral accordingly and the borrower failed to return the securities. The Funds could also experience delays and costs 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.
As of May 31, 2021, the value of securities on loan was $156,929,711, $8,025,312, $41,722,700, $2,640,318, $20,442,006, $29,791,047, $1,212,639, $44,029,214, $7,336,461, $29,099,220, $20,268,144 and $11,266,638 for the Global X Robotics and 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 Artificial Intelligence & Technology ETF, Global X Cannabis ETF, Global X Genomics & Biotechnology ETF, Global X Telemedicine & Digital Health ETF, Global X U.S. Infrastructure Development ETF and Global X Thematic Growth ETF, respectively, and the cash collateral received from securities on loan was $165,200,614, $8,538,672, $44,417,141, $2,755,410, $20,822,583, $31,066,835, $1,223,369, $43,050,310, $7,629,532, $29,976,383, $20,910,587 and $11,553,784, for the Global X Robotics and 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 Artificial Intelligence & Technology ETF, Global X Cannabis ETF, Global X Genomics & Biotechnology ETF, Global X Telemedicine & Digital Health ETF, Global X U.S. Infrastructure Development ETF and Global X Thematic Growth ETF respectively.
149
Notes to Financial Statements (Unaudited) (continued) | ||
May 31, 2021 |
7. LOANS OF PORTFOLIO SECURITIES (continued)
Market Value | Cash Collateral | |||||||
Global X Robotics & Artificial Intelligence ETF | ||||||||
Barclays Bank | $ | 591,407 | $ | 622,800 | ||||
BofA Securities | 28,824,686 | 30,487,240 | ||||||
Citigroup | 47,170,721 | 49,648,500 | ||||||
Credit Suisse | 1,855,967 | 1,953,626 | ||||||
Goldman Sachs & Co. | 6,471,804 | 6,811,134 | ||||||
JPMorgan | 28,813,415 | 29,461,143 | ||||||
Morgan Stanley | 38,916,686 | 40,961,605 | ||||||
Natl Financial Services Corp | 601,264 | 634,400 | ||||||
Scotia Capital | 8,871 | 9,342 | ||||||
UBS AG London Branch | 3,674,890 | 4,610,824 | ||||||
Global X Internet of Things ETF | ||||||||
BofA Securities | 1,555,815 | 1,639,900 | ||||||
Credit Suisse | 1,662,840 | 1,752,709 | ||||||
Goldman Sachs & Co. | 4,806,657 | 5,146,063 | ||||||
Global X FinTech ETF | ||||||||
BofA Securities | 12,315,833 | 12,918,996 | ||||||
Citigroup | 147,346 | 1,042,942 | ||||||
Goldman Sachs & Co. | 6,190,864 | 6,471,240 | ||||||
JPMorgan | 2,285,338 | 2,405,060 | ||||||
Morgan Stanley | 16,679,577 | 17,308,995 | ||||||
Scotia Capital | 582,051 | 615,323 | ||||||
UBS AG London Branch | 3,521,691 | 3,654,585 | ||||||
Global X Video Games & Esports ETF | ||||||||
BofA Securities | 952,835 | 1,061,100 | ||||||
Citigroup | 80,004 | 80,527 | (1) | |||||
Goldman Sachs & Co. | 1,607,479 | 1,613,783 | (1) | |||||
Global X Autonomous & Electric Vehicles ETF | ||||||||
Barclays Bank | 619,056 | 629,700 | ||||||
BofA Securities | 3,922,358 | 3,981,810 | ||||||
Citigroup | 9,086,310 | 9,265,421 | ||||||
Credit Suisse | 2,943,429 | 2,985,578 | (1) | |||||
Goldman Sachs & Co. | 926,261 | 953,197 | ||||||
JPMorgan | 456,831 | 472,850 | ||||||
Natl Financial Services Corp | 984,036 | 1,008,836 | ||||||
Scotia Capital | 312,444 | 322,080 | ||||||
UBS AG London Branch | 1,191,281 | 1,203,111 | (1) | |||||
Global X Cloud Computing ETF | ||||||||
Citigroup | 585,156 | 610,080 | ||||||
HSBC | 7,314,450 | 7,626,000 | ||||||
JPMorgan | 6,488,625 | 6,771,875 | ||||||
Morgan Stanley | 15,402,816 | 16,058,880 |
150
Notes to Financial Statements (Unaudited) (continued) | ||
May 31, 2021 |
7. LOANS OF PORTFOLIO SECURITIES (continued)
Market Value | Cash Collateral | |||||||
Global X Artificial Intelligence & Technology ETF | ||||||||
Citigroup | $ | 1,073,199 | $ | 1,065,669 | (1) | |||
JPMorgan | 139,440 | 157,700 | ||||||
Global X Cannabis ETF | ||||||||
Barclays Bank | 4,831,868 | 4,738,695 | (1) | |||||
BNP Paribas Securities Corp. | 1,378,609 | 1,451,385 | ||||||
Citigroup | 1,404,032 | 1,344,685 | (1) | |||||
Credit Suisse | 1,563,185 | 1,705,520 | ||||||
Goldman Sachs & Co. | 6,531,397 | 6,320,800 | (1) | |||||
JPMorgan | 6,041,189 | 5,904,402 | (1) | |||||
Morgan Stanley | 8,230,794 | 8,055,212 | (1) | |||||
Scotia Capital | 8,012,390 | 7,703,870 | (1) | |||||
UBS AG London Branch | 5,383,700 | 5,208,116 | (1) | |||||
UBS Securities LLC | 652,050 | 617,625 | (1) | |||||
Global X Genomics & Biotechnology ETF | ||||||||
BNP Paribas Securities Corp. | 199,280 | 210,675 | ||||||
BofA Securities | 4,180,662 | 4,330,214 | ||||||
Citigroup | 117,525 | 118,125 | (1) | |||||
Goldman Sachs & Co. | 2,838,994 | 2,970,518 | ||||||
Global X Telemedicine & Digital Health ETF | ||||||||
BofA Securities | 15,011,146 | 15,510,540 | ||||||
Citigroup | 1,122,519 | 1,143,622 | ||||||
Credit Suisse | 1,235,341 | 1,242,725 | (1) | |||||
Goldman Sachs & Co. | 11,453,670 | 11,764,680 | ||||||
UBS AG London Branch | 276,544 | 314,816 | ||||||
Global X U.S. Infrastructure Development ETF | ||||||||
BofA Securities | 20,120,000 | 20,750,000 | ||||||
HSBC | 148,144 | 160,587 | ||||||
Global X Thematic Growth ETF | ||||||||
BofA Securities | 2,031,300 | 2,070,000 | ||||||
Citigroup | 4,656,480 | 4,743,700 | ||||||
Credit Suisse | 753,838 | 768,200 | ||||||
Goldman Sachs & Co. | 3,343,676 | 3,405,716 | ||||||
UBS AG London Branch | 481,344 | 566,168 |
(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. |
151
Notes to Financial Statements (Unaudited) (concluded) | ||
May 31, 2021 |
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. SUBSEQUENT EVENTS
The Funds have been evaluated regarding the need for additional disclosures and/or adjustments resulting from subsequent events. Based on this evaluation, no additional adjustments were required to the financial statements.
10. OTHER MATTER
The rapid and global spread of a highly contagious novel coronavirus respiratory disease, designated COVID-19, has resulted in extreme volatility in the financial markets and severe losses; reduced liquidity of many instruments; restrictions on international and, in some cases, local travel; significant disruptions to business operations (including business closures); strained healthcare systems; disruptions to supply chains, consumer demand and employee availability; and widespread uncertainty regarding the duration and long-term effects of this pandemic. Some sectors of the economy and individual issuers have experienced particularly large losses. In addition, the COVID-19 pandemic may result in a sustained economic downturn or a global recession, domestic and foreign political and social instability, damage to diplomatic and international trade relations and increased volatility and/or decreased liquidity in the securities markets. The COVID-19 pandemic could adversely affect the value and liquidity of the Funds’ investments and negatively impact Fund performance. In addition, the outbreak of COVID-19, and measures taken to mitigate its effects, could result in disruptions to the services provided to the Funds by their service providers.
152
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 (December 1, 2020 to May 31, 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.
153
Disclosure of Fund Expenses (unaudited) (continued) | ||
Beginning Account Value 12/1/2020 | Ending Account Value 5/31/2021 | Annualized Expense Ratios | Expenses Paid During Period(1) | |||||||||||||
Global X Robotics & Artificial Intelligence ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,078.70 | 0.68 | % | $ | 3.52 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,021.54 | 0.68 | 3.43 | ||||||||||||
Global X Internet of Things ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,159.90 | 0.68 | % | $ | 3.66 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,021.54 | 0.68 | 3.43 | ||||||||||||
Global X FinTech ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,056.10 | 0.68 | % | $ | 3.49 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,021.54 | 0.68 | 3.43 | ||||||||||||
Global X Video Games & Esports ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,140.20 | 0.50 | % | $ | 2.67 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,022.44 | 0.50 | 2.52 | ||||||||||||
Global X Autonomous & Electric Vehicles ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,273.70 | 0.68 | % | $ | 3.85 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,021.54 | 0.68 | 3.43 | ||||||||||||
Global X Cloud Computing ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,012.40 | 0.68 | % | $ | 3.41 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,021.54 | 0.68 | 3.43 | ||||||||||||
Global X Data Center REITs & Digital Infrastructure ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,100.40 | 0.50 | % | $ | 2.62 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,022.44 | 0.50 | 2.52 | ||||||||||||
Global X Cybersecurity ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,204.10 | 0.50 | % | $ | 2.75 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,022.44 | 0.50 | 2.52 | ||||||||||||
Global X Artificial Intelligence & Technology ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,120.70 | 0.68 | % | $ | 3.60 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,021.54 | 0.68 | 3.43 | ||||||||||||
Global X Millennial Consumer ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,173.00 | 0.50 | % | $ | 2.71 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,022.44 | 0.50 | 2.52 | ||||||||||||
Global X Education ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 852.40 | 0.50 | % | $ | 2.31 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,022.44 | 0.50 | 2.52 |
154
Disclosure of Fund Expenses (unaudited) (concluded) | ||
Beginning Account Value 12/1/2020 | Ending Account Value 5/31/2021 | Annualized Expense Ratios | Expenses Paid During Period(1) | |||||||||||||
Global X Cannabis ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,288.80 | 0.50 | % | $ | 2.85 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,022.44 | 0.50 | 2.52 | ||||||||||||
Global X Genomics & Biotechnology ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,025.60 | 0.50 | % | $ | 2.53 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,022.44 | 0.50 | 2.52 | ||||||||||||
Global X China Biotech Innovation ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,273.50 | 0.66 | % | $ | 3.74 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,021.64 | 0.66 | 3.33 | ||||||||||||
Global X Telemedicine & Digital Health ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,000.90 | 0.68 | % | $ | 3.39 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,021.54 | 0.68 | 3.43 | ||||||||||||
Global X Aging Population ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,090.50 | 0.50 | % | $ | 2.61 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,022.44 | 0.50 | 2.52 | ||||||||||||
Global X Health & Wellness ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,220.80 | 0.50 | % | $ | 2.77 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,022.44 | 0.50 | 2.52 | ||||||||||||
Global X CleanTech ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,012.80 | 0.50 | % | $ | 2.51 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,022.44 | 0.50 | 2.52 | ||||||||||||
Global X U.S. Infrastructure Development ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,311.20 | 0.47 | % | $ | 2.71 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,022.59 | 0.47 | 2.37 | ||||||||||||
Global X Clean Water ETF* | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,057.80 | 0.50 | % | $ | 0.75 | (2) | |||||||
Hypothetical 5% Return | 1,000.00 | 1,022.44 | 0.50 | 2.52 | ||||||||||||
Global X Thematic Growth ETF | ||||||||||||||||
Actual Fund Return | $ | 1,000.00 | $ | 1,149.30 | 0.00 | % | $ | 0.00 | ||||||||
Hypothetical 5% Return | 1,000.00 | 1,024.23 | 0.00 | 0.00 |
(1) | Expenses are equal to the Fund’s annualized expense ratio multiplied by the average account value over the period, multiplied by 182/365 (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 53/365 (to reflect the period from inception to date). |
* | The Fund commenced operations on April 8, 2021. |
155
May 31, 2021 |
Pursuant to Rule 22e-4 under the 1940 Act, the Funds’ investment adviser has adopted, and the Board has approved, a liquidity risk management program (the “Program”) to govern the Funds’ approach to managing liquidity risk. The Program is overseen by the Funds’ Liquidity Risk Management Committee (the “Committee”), and the Program’s principal objectives include assessing, managing and periodically reviewing each Fund’s liquidity risk, based on factors specific to the circumstances of the Funds.
At a meeting of the Board held on May 21, 2021, the Trustees received a report from the Committee addressing the operations of the Program and assessing its adequacy and effectiveness of implementation for the period from January 1, 2020 through December 31, 2020. The Committee’s report noted that the Committee had determined that the Program is reasonably designed to assess and manage each Fund’s Liquidity Risk and operated adequately and effectively to manage each Fund’s Liquidity Risk for the period covered by the report. The Committee’s report noted that during the period covered by the report, there were no liquidity events that impacted the Funds or their ability to timely meet redemptions without dilution to existing shareholders. The Committee’s report further noted that no material changes have been made to the Program since its implementation.
There can be no assurance that the Program will achieve its objectives in the future. Please refer to the prospectus for more information regarding a Fund’s exposure to liquidity risk and other principal risks to which an investment in the Funds may be subject.
156
May 31, 2021 |
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 February 26, 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 (the “New Investment Advisory Agreement”) for the Global X Clean Water ETF (the “New Fund”) and (ii) the initial Supervision and Administration Agreement between the Trust (the “New Supervision and Administration Agreement”), on behalf of the New Fund, and Global X Management. The New Advisory Agreement and New Supervision and Administration Agreement are referred to collectively as the “New Fund Agreements.”
In advance of the Board meeting, the Board (including the Trust’s Independent Trustees) and the Independent Trustees’ independent legal counsel requested (in writing) detailed information from Global X Management in connection with the Board’s consideration of the New Fund Agreements and received and reviewed written responses from Global X Management and supporting materials relating to those requests for information. In the course of their consideration of the New Fund Agreements, the Trust’s Independent Trustees were advised by their independent legal counsel and, in addition to meetings with management of Global X Management, the Independent Trustees met separately in executive sessions with their counsel.
1 | This meeting was held via videoconference in reliance on an exemptive order issued by the Securities and Exchange Commission on March 25, 2020. Reliance on the exemptive order is necessary and appropriate due to circumstances related to current or potential effects of COVID-19. All Trustees participating in the telephonic meeting were able to hear each other simultaneously during the meeting. Reliance on the exemptive order requires Trustees, including a majority of the Independent Trustees, to ratify actions taken pursuant to the exemptive order by vote cast at the next in-person meeting. |
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Approval of Investment Advisory Agreement (Unaudited) (continued) | ||
May 31, 2021 |
NEW FUND AGREEMENTS
In determining to approve the New Fund Agreements for the New Fund, the Board considered a variety of factors, including the factors discussed in greater detail below.
Nature, Extent and Quality of Services
With respect to this factor, the Board considered:
• the terms of the New Fund Agreements and the range of services proposed to be provided to the New Fund in accordance with the New Fund Agreements;
• Global X Management’s key personnel and the portfolio managers who would provide investment advisory, supervision and administrative services to the New Fund;
• Global X Management’s responsibilities under the New Fund Agreements to, among other things, (i) manage the investment operations of the New Fund and the composition of the New Fund’s assets, including the purchase, retention and disposition of its holdings, (ii) provide quarterly reports to the Trust’s officers and the Board and other reports as the Board deems necessary or appropriate, (iii) vote proxies, exercise consents, and exercise all other rights appertaining to securities and assets held by the New Fund, (iv) select broker-dealers to execute portfolio transactions for the New Fund when necessary, (v) assist in the preparation and filing of reports and proxy statements (if any) to the shareholders of the New Fund, and the periodic updating of the registration statements, prospectuses, statements of additional information, and other reports and documents for the New Fund that are required to be filed by the Trust with the U.S. Securities and Exchange Commission (“SEC”) and other regulatory or governmental bodies, and (vi) monitor anticipated purchases and redemptions of the shares (including Creation Units) of the New Fund by shareholders and new investors;
• the nature, extent and quality of all of the services (including advisory, administrative and compliance services) that are proposed to be provided by Global X Management or made available to the New Fund; and
• the quality of Global X Management’s resources and personnel that would be made available to the New Fund, including Global X Management’s experience and the professional qualifications of Global X Management’s key personnel.
Based on these considerations, the Board concluded, at the New Fund Board Meeting, that it was satisfied with the nature, extent and quality of the services proposed to be provided to the New Fund by Global X Management.
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Approval of Investment Advisory Agreement (Unaudited) (continued) | ||
May 31, 2021 |
Performance
The Board determined that, because the New Fund had not yet begun investment operations as of the dates of the New Fund Board Meeting, meaningful data relating to the investment performance of the New Fund was not available and, therefore, could not be a factor in approving the New Fund Agreements.
Cost of Services and Profitability
With respect to this factor, the Board considered:
• Global X Management’s expected costs to provide investment management, supervision and administrative and related services to the New Fund;
• The management fee (including the proposed investment advisory fee) (“Management Fee”) that was proposed to be borne by the New Fund under the New Fund Agreement for the various investment advisory, supervisory and administrative services that the New Fund requires under a unitary fee structure (including the types of fees and expenses that are not included within the unitary fee and would be borne by the New Fund); and
• the expected profitability to Global X Management, if any, from all of the services proposed to be provided to the New Fund by Global X Management and all aspects of the relationship between Global X Management and the New Fund.
Based on these considerations, the Board concluded that the proposed Management Fee to be paid by the New Fund to Global X Management, in light of the nature, extent and quality of the services to be provided, was reasonable and in the best interests of the New Fund’s shareholders.
Comparison of Fees and Services
With respect to this factor, the Board considered:
• comparative information with respect to the proposed Management Fee to be paid to Global X Management by the New Fund. In connection with this consideration, Global X Management provided the Board with comparative expense data for the New Fund, including fees and expenses paid by unaffiliated similar specialized and/or focused ETFs, and/or other similar registered funds. The Board considered Global X Management’s detailed explanation of the proposed fee structure of the 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 Fund) and the expected total expense ratio for the New Fund. In this regard, the Board took into consideration
159
Approval of Investment Advisory Agreement (Unaudited) (continued) | ||
May 31, 2021 |
that the purpose of adopting a unitary Management Fee structure for the New Fund was to create a simple, all-inclusive fee that would provide a level of predictability with respect to the overall expense ratio (i.e., the total fee) of the New Fund and that the proposed Management Fee for the New Fund was set at a competitive level to make the New Fund viable in the marketplace; and
• that, under the proposed unified Management Fee structure, Global X Management would be responsible for most ordinary expenses of the New Fund, including the costs of various third-party services required by the New Fund, including investment advisory, administrative, audit, certain custody, portfolio accounting, legal, transfer agency and printing costs, but that the New Fund would bear other expenses not covered under the proposed all-inclusive Management Fee, such as taxes, brokerage fees, commissions, and other transaction expenses, interest expenses, and extraordinary expenses.
Based on these considerations, the Board concluded, at the New Fund Board Meeting, that the services to be received and the fees to be charged under the New Fund Agreements were reasonable on a comparative basis.
Economies of Scale
With respect to this factor, the Board considered:
• the extent to which economies of scale would be realized as the New Fund grows and whether the proposed unitary Management Fee for the New Fund reflected these economies of scale;
• the significant investment of time, personnel and other resources that Global X Management intends to make in the New Fund in order to seek to assure that the New Fund is attractive to investors; and
• that the proposed unitary Management Fee would provide a high level of certainty as to the total level of expenses for the New Fund and its shareholders.
Based on these considerations, the Board concluded, at the New Fund Board Meeting, that the proposed unitary Management Fee for the New Fund appropriately addressed economies of scale.
Other Benefits
In considering 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 Fund. As a result, the Board concluded that, in the case
160
Approval of Investment Advisory Agreement (Unaudited) (concluded) | ||
May 31, 2021 |
of the New Fund, in the exercise of the Board’s business judgement, all information the Board considered supported approval of the New Fund Agreements.
Conclusion
After full consideration of the factors above, as well as other factors that were instructive in their consideration, the Board, including all of the Trust’s Independent Trustees voting separately, concluded, in the exercise of its business judgement, that the New Fund Agreements were fair and reasonable and in the best interest of the New Fund.
In reaching this decision, the Board did not assign relative weights to the factors above nor did the Board deem any one factor or group of them to be controlling in and of themselves. Each member of the Board may have assigned different weights to the various factors.
161
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.
162
Notes | ||
163
Notes | ||
164
605 3rd Avenue, 43rd Floor
New York, NY 10158
1-888-493-8631
www.globalxetfs.com
Investment Adviser and Administrator:
Global X Management Company LLC
605 3rd Avenue, 43rd Floor
New York, NY 10158
Distributor:
SEI Investments Distribution Co.
One Freedom Valley Drive
Oaks, PA 19456
Sub-Administrator:
SEI Investments Global Funds Services
One Freedom Valley Drive
Oaks, PA 19456
Counsel for Global X Funds and the Independent Trustees:
Stradley Ronon Stevens & Young, LLP
2000 K Street, N.W.
Suite 700
Washington, DC 20006
Custodian and Transfer Agent:
Brown Brothers Harriman & Co.
50 Post Office Square
Boston, MA 02110
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-SA-007-0600
Item 2. Code of Ethics.
Not applicable for semi-annual report.
Item 3. Audit Committee Financial Expert.
Not applicable for semi-annual report.
Item 4. Principal Accountant Fees and Services.
Not applicable for semi-annual report.
Item 5. Audit Committee of Listed Registrants.
Not applicable for semi-annual report.
Item 6. Investments.
Not applicable.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable to open-end management investment companies.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable to open-end management investment companies.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable to open-end management investment companies.
Item 10. Submission of Matters to a Vote of Security Holders.
There have been no material changes.
Item 11. Controls and Procedures.
(a) The certifying officers, whose certifications are included herewith, have evaluated the registrant’s disclosure controls and procedures within 90 days of the filing date of this report. In their opinion, based on their evaluation, the registrant’s disclosure controls and procedures are adequately designed, and are operating effectively to ensure, that information required to be disclosed by the registrant in the reports it files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.
(b) There were no significant changes in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable to open-end management investment companies.
Item 13. Exhibits.
(a)(1) Not applicable for semi-annual report.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) | Global X Funds |
By (Signature and Title)* | /s/ Luis Berruga Luis Berruga President |
Date: August 6, 2021
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)* | /s/ Luis Berruga Luis Berruga President |
Date: August 6, 2021
By (Signature and Title)* | /s/ John Belanger John Belanger Chief Financial Officer |
Date: August 6, 2021
* Print the name and title of each signing officer under his or her signature.