# EDGAR Filing Document

**Accession Number:** 0001432353
**File Stem:** 0000930413-26-000077
**Filing Date:** 2026-1
**Character Count:** 894252
**Document Hash:** 4c827d4a348de2b3d5d0ce9f927b2ea5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000930413-26-000077.hdr.sgml**: 20260109

**ACCESSION NUMBER**: 0000930413-26-000077

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 66

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20260109

**DATE AS OF CHANGE**: 20260109

**EFFECTIVENESS DATE**: 20260109

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Global X Funds
- **CENTRAL INDEX KEY:** 0001432353

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22209
- **FILM NUMBER:** 26523755

**BUSINESS ADDRESS:**
- **STREET 1:** 605 THIRD AVENUE
- **STREET 2:** 43RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10158
- **BUSINESS PHONE:** (212) 644-6110

**MAIL ADDRESS:**
- **STREET 1:** 605 THIRD AVENUE
- **STREET 2:** 43RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10158

## Series and Classes Contracts Data

### Global X Lithium & Battery Tech ETF (Series ID: S000029441)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000090392 | Global X Lithium & Battery Tech ETF | LIT             |

### Global X SuperDividend ETF (Series ID: S000032495)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000100210 | Global X SuperDividend ETF | SDIV            |

### Global X Social Media ETF (Series ID: S000034155)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000105277 | Global X Social Media ETF | SOCL            |

### Global X Disruptive Materials ETF (Series ID: S000034190)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000105363 | Global X Disruptive Materials ETF | DMAT            |

### Global X SuperIncome Preferred ETF (Series ID: S000036904)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000112947 | Global X SuperIncome Preferred ETF | SPFF            |

### Global X SuperDividend REIT ETF (Series ID: S000036905)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000112948 | Global X SuperDividend REIT ETF | SRET            |

### Global X Guru Index ETF (Series ID: S000037879)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000116930 | Global X Guru Index ETF | GURU            |

### Global X SuperDividend U.S. ETF (Series ID: S000039638)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000122244 | Global X SuperDividend U.S. ETF | DIV             |

### Global X MSCI SuperDividend Emerging Markets ETF (Series ID: S000048110)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000152059 | Global X MSCI SuperDividend Emerging Markets ETF | SDEM            |

### Global X Renewable Energy Producers ETF (Series ID: S000049685)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000157108 | Global X Renewable Energy Producers ETF | RNRG            |

### Global X S&P 500 Catholic Values ETF (Series ID: S000050646)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000159972 | Global X S&P 500 Catholic Values ETF | CATH            |

### Global X MSCI SuperDividend EAFE ETF (Series ID: S000055354)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000174155 | Global X MSCI SuperDividend EAFE ETF | EFAS            |

### Global X E-commerce ETF (Series ID: S000062674)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000203264 | Global X E-commerce ETF | EBIZ            |

### Global X S&P Catholic Values Developed ex-U.S. ETF (Series ID: S000068649)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000219588 | Global X S&P Catholic Values Developed ex-U.S. ETF | CEFA            |

### Global X NASDAQ 100 Tail Risk ETF (Series ID: S000072534)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000228847 | Global X NASDAQ 100 Tail Risk ETF | QTR             |

### Global X NASDAQ 100 Collar 95-110 ETF (Series ID: S000072536)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000228849 | Global X NASDAQ 100 Collar 95-110 ETF | QCLR            |

### Global X S&P 500 Tail Risk ETF (Series ID: S000072540)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000228853 | Global X S&P 500 Tail Risk ETF | XTR             |

### Global X S&P 500 Collar 95-110 ETF (Series ID: S000072542)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000228855 | Global X S&P 500 Collar 95-110 ETF | XCLR            |

### Global X Russell 2000 ETF (Series ID: S000085029)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000249892 | Global X Russell 2000 ETF | RSSL            |

### Global X U.S. Electrification ETF (Series ID: S000089023)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000255445 | Global X U.S. Electrification ETF | ZAP             |

### Global X S&P 500 U.S. Market Leaders Top 50 ETF (Series ID: S000091685)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000259403 | Global X S&P 500 U.S. Market Leaders Top 50 ETF | FLAG            |

### Global X S&P 500 U.S. Revenue Leaders ETF (Series ID: S000091686)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000259404 | Global X S&P 500 U.S. Revenue Leaders ETF | EGLE            |

### Global X S&P 500 Christian Values ETF (Series ID: S000094806)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000263350 | Global X S&P 500 Christian Values ETF | CHRI            |

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM N-CSR**

**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)

Jasmin M. Ali, Esquire

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:

Jasmin M. Ali, Esquire Global X Management Company LLC 605 Third Avenue, 43rd floor New York, NY 10158 Eric S. Purple, Esquire 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: October 31, 2025**

**Date of reporting period: October 31, 2025**

**Item 1.** **Reports to Stockholders.**

(a) 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 Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X Lithium & Battery Tech ETF

## Ticker: LIT

## Principal Listing Exchange: NYSE Arca, Inc.

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X Lithium & Battery Tech ETF (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/lit/. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment</u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X Lithium & Battery Tech ETF | $92 | 0.75% |

---

## How did the Fund perform in the last year?
The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global Lithium Index ("Secondary Index"). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets.

The Secondary Index is designed to measure broad-based equity market performance of global companies involved in the lithium industry, as defined by Solactive AG, the provider of the Secondary Index.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 44.60%, while the Secondary Index increased 45.17%. The Fund had a net asset value of $43.42 per share on October 31, 2024 and ended the reporting period with a net asset value of $62.37 per share on October 31, 2025.

The Fund recorded positive returns during the reporting period, supported by improving sentiment across lithium and battery supply chains. In early 2025, China extended its vehicle trade-in subsidy scheme until the end of the year, which boosted demand throughout the EV battery supply chain and helped absorb excess supplies. China also introduced stricter mining regulations focused on environmental protection and resource efficiency, leading to the suspension of several operations, including the Jianxiawo mine. These changes reduced domestic output and, along with other mine curtailments, supported a gradual improvement in market balance. As a result, Chinese spot prices showed intermittent rebounds throughout the year. Together, supportive demand fundamentals and supply disruptions improved sentiment towards lithium miners and battery makers, contributing to the positive result.

#### How did the Fund perform during the last 10 years?

## Total Return Based on $10,000 Investment
![Growth Chart](i66f7ab17cd697087b5234f3e.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X Lithium & Battery Tech ETF** | **MSCI ACWI Index (USD) (NR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** | **Solactive Global Lithium Index (USD) (NR)<sup>Footnote Reference†</sup>** |
| **Oct/15** | $10000 | $10000 | $10000 |
| **Oct/16** | $11676 | $10205 | $11757 |
| **Oct/17** | $19437 | $12573 | $19546 |
| **Oct/18** | $15547 | $12508 | $15644 |
| **Oct/19** | $13275 | $14082 | $13348 |
| **Oct/20** | $23076 | $14771 | $23153 |
| **Oct/21** | $49127 | $20277 | $49586 |
| **Oct/22** | $36307 | $16230 | $36866 |
| **Oct/23** | $25907 | $17935 | $26387 |
| **Oct/24** | $24082 | $23816 | $24608 |
| **Oct/25** | $34823 | $29208 | $35724 |

---

The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund during the last 10 years. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/lit/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;ACWI – All Country World Index |
| Footnote† | &nbsp;&nbsp;Net Return (NR) - Reflects no deductions for fees, expenses or taxes (except foreign withholding taxes). |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>1 Year</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| Global X Lithium & Battery Tech ETF | 44.60% | 8.58% | 13.29% |
| MSCI ACWI Index (USD) (NR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 22.64% | 14.61% | 11.31% |
| Solactive Global Lithium Index (USD) (NR)<sup>Footnote Reference†</sup> | 45.17% | 9.06% | 13.58% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $1384355571 | 49 | $7762246 | 51.63% |

---

## What did the Fund invest in?

## Asset/Country Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i2b42d1a64722d0556d1e19fd.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Repurchase Agreements | 5.3% |
| Brazil | 0.2% |
| France | 0.2% |
| Netherlands | 0.4% |
| Canada | 1.1% |
| Chile | 2.9% |
| Japan | 7.9% |
| United States | 11.6% |
| South Korea | 11.8% |
| Australia | 26.8% |
| China | 37.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;Rio Tinto PLC ADR | 19.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Albemarle | 4.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Samsung SDI | 4.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;TDK | 4.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Ganfeng Lithium Group, Cl A | 4.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eve Energy, Cl A | 4.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;LG Energy Solution | 4.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Contemporary Amperex Technology, Cl A | 4.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tesla | 3.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;NAURA Technology Group, Cl A | 3.8% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Repurchase Agreements are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/lit/ 

# Global X Funds

## Global X Lithium & Battery Tech ETF: LIT
**Principal Listing Exchange: NYSE Arca, Inc.**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-LIT-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X SuperDividend<sup>®</sup> ETF

## Ticker: SDIV

## Principal Listing Exchange: NYSE Arca, Inc.

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X SuperDividend<sup>®</sup> ETF (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/sdiv/. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment</u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X SuperDividend<sup>®</sup> ETF | $64 | 0.58% |

---

## How did the Fund perform in the last year?
The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global SuperDividend<sup>®</sup> Index ("Secondary Index"). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Secondary Index.

The Secondary Index tracks the performance of 100 equally weighted companies that rank among the highest dividend yielding equity securities in the world, including emerging market countries, as defined by Solactive AG, the provider of the Secondary Index ("Index Provider"). The Index Provider applies certain dividend stability filters.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 20.40%, while the Secondary Index increased 20.96%. The Fund had a net asset value of $21.99 per share on October 31, 2024 and ended the reporting period with a net asset value of $23.81 per share on October 31, 2025.

The Fund posted positive returns during the reporting period, supported by improving interest-rate dynamics across major markets and favorable currency movements driven by a weaker US dollar. In the U.S., the Federal Reserve reduced its policy rate by 0.25 percentage points in September, signaling room for further easing that typically supports income-oriented equities by lowering discount rates. Similarly, the European Central Bank cut rates in 2025 as inflation moved closer to target, providing a boost to rate-sensitive sectors such as utilities, real estate, and financials. Offsetting factors included a sharp mid-year slide in oil and ongoing oversupply concerns, which weighed on energy performance. In China, May's reductions to loan prime rates and new financing tools sought to stabilize growth, yet housing data showed mixed results, leaving Asia names mixed. In Latin America, Brazil's decision to keep policy rates at multi-year highs through mid-to-late 2025 elevated equity risk premia and tempered returns from domestically focused high-yield shares.

#### How did the Fund perform during the last 10 years?

## Total Return Based on $10,000 Investment
![Growth Chart](i9c9587dbb174f046d0b7326f.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X SuperDividend<sup>®</sup> ETF** | **MSCI ACWI Index (USD) (NR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** | **Solactive Global SuperDividend<sup>®</sup> Index (USD) (NR)<sup>Footnote Reference†</sup>** |
| **Oct/15** | $10000 | $10000 | $10000 |
| **Oct/16** | $10623 | $10205 | $10500 |
| **Oct/17** | $11971 | $12573 | $11919 |
| **Oct/18** | $11415 | $12508 | $11377 |
| **Oct/19** | $11299 | $14082 | $11251 |
| **Oct/20** | $7592 | $14771 | $7568 |
| **Oct/21** | $10038 | $20277 | $10037 |
| **Oct/22** | $6645 | $16230 | $6443 |
| **Oct/23** | $6624 | $17935 | $6475 |
| **Oct/24** | $7977 | $23816 | $7857 |
| **Oct/25** | $9604 | $29208 | $9503 |

---

The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund during the last 10 years. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/sdiv/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;ACWI – All Country World Index |
| Footnote† | &nbsp;&nbsp;Net Return (NR) - Reflects no deductions for fees, expenses or taxes (except foreign withholding taxes). |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>1 Year</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| Global X SuperDividend<sup>®</sup> ETF | 20.40% | 4.81% | -0.40% |
| MSCI ACWI Index (USD) (NR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 22.64% | 14.61% | 11.31% |
| Solactive Global SuperDividend<sup>®</sup> Index (USD) (NR)<sup>Footnote Reference†</sup> | 20.96% | 4.66% | -0.51% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $1014282604 | 113 | $4868529 | 68.09% |

---

## What did the Fund invest in?

## Asset/Country Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i78531b6724291e633c9ea72d.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Futures Contracts | 0.0% |
| Repurchase Agreements | 4.9% |
| Other Countries | 9.6% |
| Indonesia | 2.3% |
| Singapore | 2.5% |
| Canada | 3.0% |
| Israel | 3.8% |
| South Africa | 5.1% |
| Hong Kong | 5.6% |
| China | 8.0% |
| Norway | 8.4% |
| United Kingdom | 9.8% |
| Brazil | 13.3% |
| United States | 28.1% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;d'Amico International Shipping | 1.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;SES, Cl A | 1.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Direcional Engenharia | 1.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Banco Bradesco | 1.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Western Union | 1.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Ithaca Energy PLC | 1.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Caixa Seguridade Participacoes | 1.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Aker BP | 1.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Kenon Holdings | 1.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Delta Israel Brands | 1.4% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Repurchase Agreements are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/sdiv/ 

# Global X Funds

## Global X SuperDividend<sup>®</sup> ETF: SDIV
**Principal Listing Exchange: NYSE Arca, Inc.**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-SDIV-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X Social Media ETF

## Ticker: SOCL

## Principal Listing Exchange: Nasdaq

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X Social Media ETF (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/socl/. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment</u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X Social Media ETF | $78 | 0.65% |

---

## How did the Fund perform in the last year?
The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Social Media Total Return Index ("Secondary Index"). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Secondary Index.

The Secondary Index is designed to reflect the performance of companies involved in the social media industry, such as those companies that provide social networking, file sharing, and other web-based media applications, and derive significant percentage of their revenues from social media related activities.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 38.63%, while the Secondary Index increased 39.54%. The Fund had a net asset value of $41.94 per share on October 31, 2024 and ended the reporting period with a net asset value of $58.02 per share on October 31, 2025.

The Fund recorded positive returns during the reporting period. Sector fundamentals remained supportive, with industry forecasts projecting continued growth in digital advertising and paid social in 2025, including expectations for social-media ad sales to rise in the U.S. and solid global gains. In the U.S., the Federal Reserve's September rate cut eased financial conditions and supported valuations for growth-oriented internet platforms that rely on advertising and engagement. Policy developments also bolstered sentiment as Washington advanced a framework for stricter enforcement of the Digital Markets Act. While this introduced some compliance costs and periods of volatility, it also provided greater clarity around operating conditions for large platforms. In China, authorities' retreat from the most punitive proposed gaming restrictions reported in late 2024, alongside a late-September 2025 stimulus worth 500 billion yuan, supported key platform peers with advertising and gaming exposure.

#### How did the Fund perform during the last 10 years?

## Total Return Based on $10,000 Investment
![Growth Chart](i79bdabff592b9da4ba862e38.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X Social Media ETF** | **MSCI ACWI Index (USD) (NR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** | **Solactive Social Media Total Return Index (USD) (NR)<sup>Footnote Reference†</sup>** |
| **Oct/15** | $10000 | $10000 | $10000 |
| **Oct/16** | $12199 | $10205 | $12293 |
| **Oct/17** | $16968 | $12573 | $17174 |
| **Oct/18** | $15336 | $12508 | $15618 |
| **Oct/19** | $16822 | $14082 | $17230 |
| **Oct/20** | $27379 | $14771 | $28224 |
| **Oct/21** | $32285 | $20277 | $33469 |
| **Oct/22** | $13159 | $16230 | $13670 |
| **Oct/23** | $18475 | $17935 | $19311 |
| **Oct/24** | $22383 | $23816 | $23490 |
| **Oct/25** | $31028 | $29208 | $32778 |

---

The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund during the last 10 years. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/socl/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;ACWI – All Country World Index |
| Footnote† | &nbsp;&nbsp;Net Return (NR) - Reflects no deductions for fees, expenses or taxes (except foreign withholding taxes). |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>1 Year</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| Global X Social Media ETF | 38.63% | 2.53% | 11.99% |
| MSCI ACWI Index (USD) (NR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 22.64% | 14.61% | 11.31% |
| Solactive Social Media Total Return Index (USD) (NR)<sup>Footnote Reference†</sup> | 39.54% | 3.04% | 12.61% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $149692832 | 57 | $843719 | 9.79% |

---

## What did the Fund invest in?

## Asset/Country Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](if2c7ee4e5630f2ac7937acab.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Repurchase Agreements | 3.2% |
| Singapore | 0.2% |
| United Arab Emirates | 0.2% |
| United Kingdom | 0.3% |
| Germany | 0.8% |
| Japan | 4.8% |
| South Korea | 13.3% |
| China | 37.8% |
| United States | 42.5% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;Tencent Holdings | 10.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 8.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;NAVER | 8.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Kuaishou Technology, Cl B | 8.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Reddit, Cl A | 7.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl A | 5.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Baidu ADR | 4.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Kakao | 4.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Spotify Technology | 4.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;NetEase ADR | 4.4% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Repurchase Agreements are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/socl/ 

# Global X Funds

## Global X Social Media ETF: SOCL
**Principal Listing Exchange: Nasdaq**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-SOCL-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X Guru<sup>®</sup> Index ETF

## Ticker: GURU

## Principal Listing Exchange: NYSE Arca, Inc.

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X Guru<sup>®</sup> Index ETF (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/guru/. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment</u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X Guru<sup>®</sup> Index ETF | $85 | 0.75% |

---

## How did the Fund perform in the last year?
The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Guru Index<sup>®</sup> ("Secondary Index"). The Secondary Index is comprised of the top U.S. listed equity positions reported on Form 13F by a select group of entities that Solactive AG characterizes as hedge funds. Hedge funds must have minimum reported holdings of $500 million in their Form 13F to be considered for the Underlying Index. Additional filters are applied to eliminate hedge funds that have high turnover rates for equity holdings. Only hedge funds with a concentrated top holding are included in the selection process.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 27.04%, while the Secondary Index increased 27.52%. The Fund had a net asset value of $48.38 per share on October 31, 2024 and ended the reporting period with a net asset value of $61.35 per share on October 31, 2025.

The Fund delivered positive performance over the reporting period, supported by a friendlier U.S. policy backdrop and improving market breadth. The Federal Reserve restarted easing and lowered its policy rate, which helped lift valuations for growth-oriented holdings. Inflation cooled, reinforcing expectations that monetary conditions would continue to loosen. Momentum in artificial intelligence spending and resilient mega-cap earnings further supported technology and semiconductor exposures that are common in hedge fund portfolios. After the September rate cut, major U.S. indexes notched fresh record highs and small caps rallied, aiding broader equity allocations. However, periodic tariff and trade-policy uncertainty weighed on investor sentiment at times, especially for companies with international exposure, but these headwinds were not enough to derail gains.

#### How did the Fund perform during the last 10 years?

## Total Return Based on $10,000 Investment
![Growth Chart](i1c2e9fd5b8f83cde0587de81.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X Guru<sup>®</sup> Index ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **Solactive Guru Index<sup>®</sup> (USD) (NR)<sup>Footnote Reference†</sup>** |
| **Oct/15** | $10000 | $10000 | $10000 |
| **Oct/16** | $9703 | $10451 | $9719 |
| **Oct/17** | $12061 | $12921 | $12111 |
| **Oct/18** | $12713 | $13870 | $12822 |
| **Oct/19** | $14480 | $15857 | $14624 |
| **Oct/20** | $16049 | $17397 | $16224 |
| **Oct/21** | $22055 | $24862 | $22285 |
| **Oct/22** | $14715 | $21230 | $14920 |
| **Oct/23** | $15095 | $23383 | $15213 |
| **Oct/24** | $21432 | $32272 | $21725 |
| **Oct/25** | $27227 | $39196 | $27703 |

---

The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund during the last 10 years. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/guru/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |
| Footnote† | &nbsp;&nbsp;Net Return (NR) - Reflects no deductions for fees, expenses or taxes (except foreign withholding taxes). |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>1 Year</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| Global X Guru<sup>®</sup> Index ETF | 27.04% | 11.15% | 10.54% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 17.64% | 14.64% |
| Solactive Guru Index<sup>®</sup> (USD) (NR)<sup>Footnote Reference†</sup> | 27.52% | 11.29% | 10.73% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $56441808 | 79 | $367479 | 86.33% |

---

## What did the Fund invest in?

## Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](ie86331b4e3e13bb1c26cddf9.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Real Estate | 1.4% |
| Materials | 3.3% |
| Energy | 3.6% |
| Consumer Staples | 5.5% |
| Communication Services | 5.9% |
| Utilities | 6.1% |
| Financials | 9.4% |
| Consumer Discretionary | 11.2% |
| Industrials | 14.2% |
| Information Technology | 18.2% |
| Health Care | 21.2% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;Warner Bros Discovery | 2.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Celestica | 2.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Newamsterdam Pharma | 1.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Arcutis Biotherapeutics | 1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;AppLovin, Cl A | 1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;United Therapeutics | 1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alibaba Group Holding ADR | 1.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;PTC Therapeutics | 1.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tesla | 1.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Snowflake, Cl A | 1.6% |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/guru/ 

# Global X Funds

## Global X Guru<sup>®</sup> Index ETF: GURU
**Principal Listing Exchange: NYSE Arca, Inc.**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-GURU-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X SuperIncome™ Preferred ETF

## Ticker: SPFF

## Principal Listing Exchange: NYSE Arca, Inc.

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X SuperIncome™ Preferred ETF (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/spff/. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment</u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X SuperIncome™ Preferred ETF | $49 | 0.48% |

---

## How did the Fund perform in the last year?
The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Global X U.S. High Yield Preferred Index ("Secondary Index"). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Secondary Index.

The Secondary Index tracks the performance of the highest-yielding preferred securities listed in the United States, as determined by Solactive AG, the administrator of the Secondary Index ("Index Administrator"). The Secondary Index is comprised of preferred stocks that meet certain criteria relating to size, liquidity, issuer concentration and rating, maturity and other requirements, as determined by the Index Administrator. The Secondary Index does not seek to directly reflect the performance of the companies issuing the preferred stock. The Secondary Index is owned and was developed by Global X Management Company LLC, an affiliate of the Fund and the Fund's investment adviser.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 2.33%, while the Secondary Index increased 2.89%. The Fund had a net asset value of $9.59 per share on October 31, 2024 and ended the reporting period with a net asset value of $9.19 per share on October 31, 2025.

The Fund ended the reporting period slightly positive, supported primarily by steady income despite fluctuations in market yields. Shifting U.S. interest-rate expectations—initially emphasizing higher-for-longer interest rate policy and later leaning toward potential easing—contributed to volatility among rate-sensitive preferreds, though coupon distributions helped sustain total returns. Credit conditions remained generally favorable, with stable bank funding and improving issuer fundamentals in core sectors such as financials and utilities aiding positive sentiment.

#### How did the Fund perform during the last 10 years?

## Total Return Based on $10,000 Investment
![Growth Chart](id5a63ccb7a6c26ee9cb602d3.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X SuperIncome™ Preferred ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **Global X U.S. High Yield Preferred Index<sup>Footnote Reference^</sup>** |
| **Oct/15** | $10000 | $10000 | $10000 |
| **Oct/16** | $10444 | $10451 | $10489 |
| **Oct/17** | $10581 | $12921 | $10698 |
| **Oct/18** | $10489 | $13870 | $10643 |
| **Oct/19** | $11419 | $15857 | $11643 |
| **Oct/20** | $11512 | $17397 | $11793 |
| **Oct/21** | $13090 | $24862 | $13510 |
| **Oct/22** | $11282 | $21230 | $11696 |
| **Oct/23** | $10237 | $23383 | $10642 |
| **Oct/24** | $12710 | $32272 | $13270 |
| **Oct/25** | $13006 | $39196 | $13653 |

---

The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund during the last 10 years. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/spff/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote^ | &nbsp;&nbsp;Secondary Index performance reflects the performance of the S&P Enhanced Yield North American Preferred Stock Index through April 2, 2023, and the Global X U.S. High Yield Preferred Index thereafter. The performance above reflects results achieved pursuant to different principal investment strategies than the strategies currently employed by the Fund. If the Fund's current strategies had been in place prior to April 2, 2023, results shown would have been different. |
| Footnote\* | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>1 Year</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| Global X SuperIncome™ Preferred ETF | 2.33% | 2.47% | 2.66% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 17.64% | 14.64% |
| Global X U.S. High Yield Preferred Index<sup>Footnote Reference^</sup> | 2.89% | 2.97% | 3.16% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $133426556 | 50 | $663442 | 73.21% |

---

## What did the Fund invest in?

## Country Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i841871642b5520142c046138.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| United States | 99.4% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;Albemarle | 4.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo | 4.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise | 4.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microchip Technology | 4.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;PG&E | 4.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Ares Management | 4.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;KKR | 4.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank of America | 3.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apollo Global Management | 3.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Athene Holding | 2.6% |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/spff/ 

# Global X Funds

## Global X SuperIncome™ Preferred ETF: SPFF
**Principal Listing Exchange: NYSE Arca, Inc.**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-SPFF-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X SuperDividend<sup>®</sup> U.S. ETF

## Ticker: DIV

## Principal Listing Exchange: NYSE Arca, Inc.

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X SuperDividend<sup>®</sup> U.S. ETF (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/div/. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment</u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X SuperDividend<sup>®</sup> U.S. ETF | $45 | 0.45% |

---

## How did the Fund perform in the last year?
The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Indxx SuperDividend<sup>®</sup> U.S. Low Volatility Index ("Secondary Index"). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Secondary Index.

The Secondary Index is maintained by Indxx, LCC (the "Index Provider"). The Secondary Index tracks the performance of 50 equally weighted common stocks, Master Limited Partnerships and real estate investment trusts ("REITs") that rank among the highest dividend yielding equity securities in the United States, as defined by the Index Provider. The components of the Secondary Index have also paid dividends consistently over the last two years. The Secondary Index is comprised of securities that the Index Provider determines to have lower volatility relative to the market.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund decreased 1.18%, while the Secondary Index decreased 0.66%. The Fund had a net asset value of $18.50 per share on October 31, 2024 and ended the reporting period with a net asset value of $17.10 per share on October 31, 2025.

The Fund finished the reporting period slightly down, with income helping offset uneven equity moves. A 0.25 percentage point policy cut in September eased pressure on rate sensitive groups like utilities and REITs. Inflation progress was uneven towards the end of the reporting period which tempered the boost from lower policy rates and kept real yields relatively firm. However, basic materials and healthcare equities largely remained out of favor within the portfolio over the reporting period, given weakness in the industrial economy and regulatory uncertainties in the healthcare sector. A cooling labor market supported the U.S. Federal Reserve's policy and helped underpin high yield equities via lower discount rates. Softer oil industry fundamentals also created mixed effects across dividend-yielding companies in the energy sector. Optimism surrounding rate cuts further aided income-oriented exposures, though tariff related policy uncertainty remained a headwind to risk appetite.

#### How did the Fund perform during the last 10 years?

## Total Return Based on $10,000 Investment
![Growth Chart](i0a10e4c517c6a782a3cec4f3.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X SuperDividend<sup>®</sup> U.S. ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **Indxx SuperDividend<sup>®</sup> U.S. Low Volatility Index (USD) (TR)<sup>Footnote Reference\*</sup>** |
| **Oct/15** | $10000 | $10000 | $10000 |
| **Oct/16** | $10213 | $10451 | $10335 |
| **Oct/17** | $11402 | $12921 | $11708 |
| **Oct/18** | $11819 | $13870 | $12203 |
| **Oct/19** | $12127 | $15857 | $12585 |
| **Oct/20** | $8474 | $17397 | $8780 |
| **Oct/21** | $12078 | $24862 | $12538 |
| **Oct/22** | $12218 | $21230 | $12764 |
| **Oct/23** | $10678 | $23383 | $11221 |
| **Oct/24** | $13477 | $32272 | $14244 |
| **Oct/25** | $13318 | $39196 | $14150 |

---

The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund during the last 10 years. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/div/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>1 Year</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| Global X SuperDividend<sup>®</sup> U.S. ETF | -1.18% | 9.46% | 2.91% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 17.64% | 14.64% |
| Indxx SuperDividend<sup>®</sup> U.S. Low Volatility Index (USD) (TR)<sup>Footnote Reference\*</sup> | -0.66% | 10.01% | 3.53% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $624026152 | 57 | $2910224 | 41.47% |

---

## What did the Fund invest in?

## Asset/Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](if642c9d3f97db1a5b4451afb.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Repurchase Agreements | 0.9% |
| Health Care | 2.1% |
| Communication Services | 5.3% |
| Financials | 5.9% |
| Industrials | 7.0% |
| Materials | 8.7% |
| Consumer Staples | 9.9% |
| Real Estate | 19.2% |
| Utilities | 20.1% |
| Energy | 21.5% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;Global Ship Lease, Cl A | 3.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Ardagh Metal Packaging | 3.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Omega Healthcare Investors | 2.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Spire | 2.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Evergy | 2.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Northwestern Energy Group | 2.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Northwest Natural Holding | 2.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alexander's | 2.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;FLEX LNG | 2.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;National Health Investors | 2.4% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Repurchase Agreements are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/div/ 

# Global X Funds

## Global X SuperDividend<sup>®</sup> U.S. ETF: DIV
**Principal Listing Exchange: NYSE Arca, Inc.**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-DIV-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF

## Ticker: SDEM

## Principal Listing Exchange: NYSE Arca, Inc.

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/sdem/. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment</u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF | $75 | 0.66% |

---

## How did the Fund perform in the last year?
The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Emerging Markets Top 50 Dividend Index ("Secondary Index").

The Secondary Index is based on the MSCI Emerging Markets Index, its parent index ("Parent Index"), which includes large- and mid-capitalization stocks across 23 emerging markets countries. The Secondary Index tracks the performance of 50 equally-weighted companies from the Parent Index that rank among the highest dividend yielding securities in emerging markets.

For the 12-month period ended October 31, 2025, the Fund increased 26.06%, while the Secondary Index increased 26.88%. The Fund had a net asset value of $24.66 per share on October 31, 2024 and ended the reporting period with a net asset value of $29.22 per share on October 31, 2025.

The Fund recorded positive performance during the reporting period. Easing inflation and interest-rate cuts in several emerging market ("EM") countries improved the appeal of EM dividend stocks due to their value style and income-oriented characteristics. Firmer commodity demand supported the Fund's materials exposure, while steady domestic growth in European nations and China benefited its financials holdings. Utilities and telecommunications also contributed positively, as investors favored reliable cash flows during periods of market volatility in the first half of the reporting period. These gains were partially offset by ongoing property-sector stress in China. Toward the end of the reporting period, Brazilian equities within the Fund declined following the historic conviction of the country's former president, which weighed on performance. As a result, the Fund underperformed its Parent Index during the entirety of the reporting period.

#### How did the Fund perform during the last 10 years?

## Total Return Based on $10,000 Investment
![Growth Chart](icf48a59c75a62dba906192d4.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** | **MSCI Emerging Markets Index (USD) (NR)<sup>Footnote Reference\*</sup>** | **MSCI Emerging Markets Top 50 Dividend Index (NR)<sup>Footnote Reference^</sup><sup>Footnote Reference\*</sup>** |
| **Oct/15** | $10000 | $10000 | $10000 |
| **Oct/16** | $11558 | $10927 | $11691 |
| **Oct/17** | $12940 | $13817 | $13484 |
| **Oct/18** | $11115 | $12088 | $11675 |
| **Oct/19** | $11909 | $13521 | $12608 |
| **Oct/20** | $9406 | $14636 | $10096 |
| **Oct/21** | $11836 | $17119 | $12892 |
| **Oct/22** | $8191 | $11807 | $8885 |
| **Oct/23** | $9319 | $13083 | $10215 |
| **Oct/24** | $10978 | $16394 | $12274 |
| **Oct/25** | $13839 | $20971 | $15572 |

---

The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund during the last 10 years. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/sdem/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote^ | &nbsp;&nbsp;The Fund changed its Secondary Index from the Indxx SuperDividend Emerging Markets Index to the MSCI Emerging Markets Top 50 Dividend Index on November 16, 2016 to enhance the Fund's exposure to emerging markets. Performance through November 15, 2016 reflects the performance of the Indxx SuperDividend Emerging Markets Index. Performance thereafter reflects the performance of the MSCI Emerging Markets Top 50 Dividend Index. |
| Footnote\* | &nbsp;&nbsp;Net Return (NR) - Reflects no deductions for fees, expenses or taxes (except foreign withholding taxes). |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>1 Year</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF | 26.06% | 8.03% | 3.30% |
| MSCI Emerging Markets Index (USD) (NR)<sup>Footnote Reference\*</sup> | 27.91% | 7.46% | 7.69% |
| MSCI Emerging Markets Top 50 Dividend Index (NR)<sup>Footnote Reference^</sup><sup>Footnote Reference\*</sup> | 26.88% | 9.05% | 4.53% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $38540903 | 62 | $238123 | 69.54% |

---

## What did the Fund invest in?

## Asset/Country Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i50f894941db859ec4f26b4b2.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Futures Contracts | 0.0% |
| Repurchase Agreements | 6.1% |
| Other Countries | 19.8% |
| Turkey | 2.6% |
| South Korea | 2.6% |
| Poland | 3.7% |
| India | 3.7% |
| Thailand | 4.0% |
| Czech Republic | 4.2% |
| Colombia | 4.8% |
| Taiwan | 7.0% |
| Indonesia | 7.1% |
| Brazil | 14.3% |
| China | 25.8% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;China Hongqiao Group | 3.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Chow Tai Fook Jewellery Group | 2.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Hyundai Motor | 2.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Turkiye Petrol Rafinerileri | 2.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;GRUPO CIBEST | 2.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Yutong Bus, Cl A | 2.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;TIM | 2.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vibra Energia | 2.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Interconexion Electrica ESP | 2.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;PetroChina, Cl H | 2.3% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Repurchase Agreements are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/sdem/ 

# Global X Funds

## Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF: SDEM
**Principal Listing Exchange: NYSE Arca, Inc.**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-SDEM-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X SuperDividend<sup>®</sup> REIT ETF

## Ticker: SRET

## Principal Listing Exchange: Nasdaq

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X SuperDividend<sup>®</sup> REIT ETF (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/sret/. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment</u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X SuperDividend<sup>®</sup> REIT ETF | $61 | 0.58% |

---

## How did the Fund perform in the last year?
The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global SuperDividend<sup>®</sup> REIT Index ("Secondary Index"). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Secondary Index.

The Secondary Index tracks the performance of real estate investment trusts ("REITs") that rank among the highest yielding REITs globally, as determined by Solactive AG, the provider of the Secondary Index.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 9.34%, while the Secondary Index increased 10.07%. The Fund had a net asset value of $21.42 per share on October 31, 2024 and ended the reporting period with a net asset value of $21.53 per share on October 31, 2025.

The Fund delivered positive returns during the reporting period, supported by improving interest rate dynamics across several key real estate markets. In the U.S., the Federal Reserve cut interest rates in September, a shift that typically lowers discount rates for property cash flows and can support income-oriented REIT valuations. In Hong Kong, the base rate was reduced the following day due to the currency peg, easing funding costs for real estate firms. Singapore's central bank also loosened policy twice in 2025 as inflation cooled and growth slowed, which helped stabilize financing burdens for local REITs.

Offsetting these supports, U.S. commercial real estate stress lingered: CMBS delinquencies increased and office sector strain remained pronounced, weighing on sentiment toward more leveraged property owners. Even so, sector fundamentals entering 2025 showed resilient cash generation, providing an earnings cushion that supported returns despite refinancing headwinds and uneven property demand across regions.

#### How did the Fund perform during the last 10 years?

## Total Return Based on $10,000 Investment
![Growth Chart](ia5d5b5c91a65b4ee59d5c70a.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X SuperDividend<sup>®</sup> REIT ETF** | **MSCI ACWI Index (USD) (NR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** | **Solactive Global SuperDividend REIT Index (USD) (NR)<sup>Footnote Reference†</sup>** |
| **Oct/15** | $10000 | $10000 | $10000 |
| **Oct/16** | $12101 | $10205 | $12195 |
| **Oct/17** | $13673 | $12573 | $13910 |
| **Oct/18** | $14261 | $12508 | $14593 |
| **Oct/19** | $16212 | $14082 | $16693 |
| **Oct/20** | $8764 | $14771 | $9018 |
| **Oct/21** | $12168 | $20277 | $12565 |
| **Oct/22** | $9587 | $16230 | $9941 |
| **Oct/23** | $8919 | $17935 | $9313 |
| **Oct/24** | $11096 | $23816 | $11642 |
| **Oct/25** | $12132 | $29208 | $12814 |

---

The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund during the last 10 years. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/sret/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;ACWI – All Country World Index |
| Footnote† | &nbsp;&nbsp;Net Return (NR) - Reflects no deductions for fees, expenses or taxes (except foreign withholding taxes). |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>1 Year</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| Global X SuperDividend<sup>®</sup> REIT ETF | 9.34% | 6.72% | 1.95% |
| MSCI ACWI Index (USD) (NR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 22.64% | 14.61% | 11.31% |
| Solactive Global SuperDividend REIT Index (USD) (NR)<sup>Footnote Reference†</sup> | 10.07% | 7.28% | 2.51% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $202140606 | 31 | $1116182 | 44.38% |

---

## What did the Fund invest in?

## Asset/Country Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i440447945797cb7f571d162c.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Futures Contracts | 0.0% |
| United Kingdom | 3.4% |
| Canada | 3.5% |
| Hong Kong | 3.9% |
| South Africa | 4.4% |
| Singapore | 18.2% |
| United States | 65.8% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;Growthpoint Properties | 4.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Link REIT | 3.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;CapitaLand Integrated Commercial Trust | 3.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mapletree Pan Asia Commercial Trust | 3.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;WP Carey | 3.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;CapitaLand Ascendas REIT | 3.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Omega Healthcare Investors | 3.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Frasers Logistics & Commercial Trust | 3.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadstone Net Lease | 3.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;SmartCentres Real Estate Investment Trust | 3.5% |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/sret/ 

# Global X Funds

## Global X SuperDividend<sup>®</sup> REIT ETF: SRET
**Principal Listing Exchange: Nasdaq**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-SRET-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X Renewable Energy Producers ETF

## Ticker: RNRG

## Principal Listing Exchange: Nasdaq

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X Renewable Energy Producers ETF (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/rnrg. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment</u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X Renewable Energy Producers ETF | $70 | 0.65% |

---

## How did the Fund perform in the last year?
The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Indxx Renewable Energy Producers Index ("Secondary Index"). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets.

The Secondary Index is designed to provide exposure to publicly traded companies that produce energy from renewable sources including wind, solar, hydroelectric, geothermal, and biofuels (including publicly traded companies that are formed to own operating assets that produce defined cash flows), as defined by Indxx LLC, the provider of the Secondary Index.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 15.08%, while the Secondary Index increased 15.75%. The Fund had a net asset value of $29.22 per share on October 31, 2024 and ended the reporting period with a net asset value of $33.25 per share on October 31, 2025. On August 29th, 2025, the Fund effected a reverse stock split at a ratio of 1:3. The reverse stock split increased the price per share of the Fund with a proportionate decrease in the number of shares outstanding.

The Fund delivered positive returns over the reporting period, supported by rapidly rising electricity demand from data centers and electrification, which lifted short- and long-term power consumption expectations. Solar and wind power were among the leading choices for power purchase agreements that corporations signed to secure power for rising demand, including from tech and data center companies. Multiple European Central Bank rate cuts in early to mid-2025 also contributed by lowering financing costs for capital-intensive clean power assets. While overall growth remained positive, constituents in the Secondary Index continued to face several challenges, including a less supportive clean energy policy backdrop in the United States and persistent permitting delays across both the United States and Europe.

#### How did the Fund perform during the last 10 years?

## Total Return Based on $10,000 Investment
![Growth Chart](id9f5907c7994dba5872f4f12.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X Renewable Energy Producers ETF** | **MSCI ACWI Index (USD) (NR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** | **Indxx Renewable Energy Producers Index (NR)<sup>Footnote Reference^</sup><sup>Footnote Reference†</sup>** |
| **Oct/15** | $10000 | $10000 | $10000 |
| **Oct/16** | $10725 | $10205 | $10725 |
| **Oct/17** | $12580 | $12573 | $12669 |
| **Oct/18** | $12140 | $12508 | $12231 |
| **Oct/19** | $15094 | $14082 | $15324 |
| **Oct/20** | $16813 | $14771 | $17112 |
| **Oct/21** | $19397 | $20277 | $19843 |
| **Oct/22** | $15212 | $16230 | $15616 |
| **Oct/23** | $10964 | $17935 | $11287 |
| **Oct/24** | $11642 | $23816 | $12033 |
| **Oct/25** | $13398 | $29208 | $13928 |

---

The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund during the last 10 years. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/rnrg for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote^ | &nbsp;&nbsp;Performance reflects the performance of the Indxx Global YieldCo Index through November 18, 2018 and the Indxx YieldCo & Renewable Energy Income Index thereafter. Effective February 1, 2021, the name of the Underlying Index changed from Indxx YieldCo & Renewable Energy Income Index to the Indxx Renewable Energy Producers Index. |
| Footnote\* | &nbsp;&nbsp;ACWI – All Country World Index |
| Footnote† | &nbsp;&nbsp;Net Return (NR) - Reflects no deductions for fees, expenses or taxes (except foreign withholding taxes). |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>1 Year</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| Global X Renewable Energy Producers ETF | 15.08% | -4.44% | 2.97% |
| MSCI ACWI Index (USD) (NR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 22.64% | 14.61% | 11.31% |
| Indxx Renewable Energy Producers Index (NR)<sup>Footnote Reference^</sup><sup>Footnote Reference†</sup> | 15.75% | -4.03% | 3.37% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $26155060 | 44 | $169997 | 31.79% |

---

## What did the Fund invest in?

## Asset/Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i957ec89ed9e390700922162b.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Energy | 0.9% |
| Industrials | 4.1% |
| Repurchase Agreements | 5.9% |
| Utilities | 94.6% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;Centrais Eletricas Brasileiras | 8.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;EDP Renovaveis | 6.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Orsted | 6.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Barito Renewables Energy | 5.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Verbund | 5.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meridian Energy | 5.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Ormat Technologies | 4.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Brookfield Renewable Partners, Cl A | 4.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mercury NZ | 4.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Contact Energy | 4.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Repurchase Agreements are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/rnrg 

# Global X Funds

## Global X Renewable Energy Producers ETF: RNRG
**Principal Listing Exchange: Nasdaq**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-RNRG-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X S&P 500<sup>®</sup> Catholic Values ETF

## Ticker: CATH

## Principal Listing Exchange: Nasdaq

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X S&P 500<sup>®</sup> Catholic Values ETF (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/cath/. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment</u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X S&P 500<sup>®</sup> Catholic Values ETF | $32 | 0.29% |

---

## How did the Fund perform in the last year?
The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P 500<sup>®</sup> Catholic Values Index ("Secondary Index"). The Fund is passively managed and generally seeks to fully replicate the Secondary Index.

The Secondary Index is designed to provide exposure to U.S. equity securities included in the S&P 500<sup>®</sup> Index while maintaining alignment with the moral and social teachings of the Catholic Church. From this starting universe, constituents are screened to exclude companies involved in activities which are perceived to be inconsistent with Catholic values as outlined in the Socially Responsible Investment Guidelines of the U.S. Conference of Catholic Bishops. The Secondary Index then reweights the remaining constituents so that the Secondary Index's sector exposures matches the sector exposures of the S&P 500<sup>®</sup> Index.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 21.59%, while the Secondary Index increased 21.94%. The Fund had a net asset value of $68.72 per share on October 31, 2024 and ended the reporting period with a net asset value of $82.77 per share on October 31, 2025.

The Fund's performance over the reporting period was positive, supported by improving U.S. macro conditions. The Technology sector, which constitutes the largest portion of the Fund, was the primary driver of performance. This was fueled by increased earnings from several of the sector's largest companies which have been capitalizing on positive market sentiment towards artificial intelligence. Additionally, another key tailwind came from the Federal Reserve's 0.25 percentage point cut in September 2025, further easing financial conditions for equities. After the rate decision, major U.S. indexes notched record highs, a favorable backdrop for diversified large-cap exposure. Late in the reporting period, tariff-related cost pressures and mixed labor signals added some uncertainty, tempering risk appetite and dampening the Fund's positive performance.

#### How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth Chart](i4f60fc0397a9a2260dd1bd4c.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X S&P 500<sup>®</sup> Catholic Values ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **S&P 500<sup>®</sup> Catholic Values Index (USD) (TR)<sup>Footnote Reference\*</sup>** |
| **Apr/16** | $10000 | $10000 | $10000 |
| **Oct/16** | $10239 | $10264 | $10148 |
| **Oct/17** | $12724 | $12690 | $12461 |
| **Oct/18** | $13597 | $13622 | $13356 |
| **Oct/19** | $15482 | $15573 | $15257 |
| **Oct/20** | $17013 | $17085 | $16827 |
| **Oct/21** | $24417 | $24417 | $24221 |
| **Oct/22** | $20381 | $20850 | $20264 |
| **Oct/23** | $22261 | $22965 | $22201 |
| **Oct/24** | $30393 | $31695 | $30396 |
| **Oct/25** | $36956 | $38494 | $37065 |

---

Since its inception on April 18, 2016. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/cath/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>1 Year</u>** | **<u>5 Years</u>** | **<u>Annualized Since Inception</u>** |
| Global X S&P 500<sup>®</sup> Catholic Values ETF | 21.59% | 16.78% | 14.68% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 17.64% | 15.17% |
| S&P 500<sup>®</sup> Catholic Values Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.94% | 17.11% | 14.72% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $1104163816 | 446 | $2775371 | 9.79% |

---

## What did the Fund invest in?

## Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i2e00f6cd9bd6cfdb6b84fa52.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Materials | 1.6% |
| Real Estate | 1.9% |
| Utilities | 2.4% |
| Energy | 2.8% |
| Consumer Staples | 4.8% |
| Industrials | 8.2% |
| Health Care | 8.7% |
| Communication Services | 10.1% |
| Consumer Discretionary | 10.6% |
| Financials | 12.9% |
| Information Technology | 35.9% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA | 8.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple | 7.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft | 6.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com | 4.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom | 3.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl A | 2.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 2.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl C | 2.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tesla | 2.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase | 1.7% |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/cath/ 

# Global X Funds

## Global X S&P 500<sup>®</sup> Catholic Values ETF: CATH
**Principal Listing Exchange: Nasdaq**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-CATH-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X MSCI SuperDividend<sup>®</sup> EAFE ETF

## Ticker: EFAS

## Principal Listing Exchange: Nasdaq

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X MSCI SuperDividend<sup>®</sup> EAFE ETF (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/efas/. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment</u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X MSCI SuperDividend<sup>®</sup> EAFE ETF | $64 | 0.55% |

---

## How did the Fund perform in the last year?
The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI EAFE Top 50 Dividend Index ("Secondary Index").

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 32.01%, while the Secondary Index increased 32.74%. The Fund had a net asset value of $14.84 per share on October 31, 2024 and ended the reporting period with a net asset value of $18.46 per share on October 31, 2025.

The Fund posted positive returns during the reporting period. This was primarily helped by the easing monetary policy of the European Central Bank and the Bank of England ("BOE"). In the Eurozone, a sequence of rate cuts lowered the deposit rate in February, March, and June. This eased financial conditions and supported income-oriented equities due to their value-style characteristics. Cooling interest rates reinforced demand for holdings in the utilities and telecoms sectors since they tend to benefit from lower bond yields. Meanwhile, stabilizing interest rates had a net positive impact on European banks as economic conditions improved and merger and acquisition activities improved. Meanwhile, U.K. domiciled financial services and consumer defensive firms provided a positive backdrop for the Fund as the BOE's easing policies lowered discount rates and improved valuation expansion for cyclical and defensive companies alike.

#### How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth Chart](ic9c373563402260e1e360a71.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X MSCI SuperDividend<sup>®</sup> EAFE ETF** | **MSCI EAFE Index (USD) (NR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** | **MSCI EAFE Top 50 Dividend Index (USD) (NR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** |
| **Nov/16** | $10000 | $10000 | $10000 |
| **Oct/17** | $12619 | $12619 | $12666 |
| **Oct/18** | $11914 | $11754 | $11997 |
| **Oct/19** | $12844 | $13052 | $12994 |
| **Oct/20** | $9601 | $12156 | $9773 |
| **Oct/21** | $13735 | $16311 | $14081 |
| **Oct/22** | $11246 | $12560 | $11589 |
| **Oct/23** | $12829 | $14369 | $13235 |
| **Oct/24** | $15902 | $17669 | $16479 |
| **Oct/25** | $20992 | $21738 | $21875 |

---

Since its inception on November 14, 2016. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/efas/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;EAFE – Europe, Australasia, and the Far East |
| Footnote† | &nbsp;&nbsp;Net Return (NR) - Reflects no deductions for fees, expenses or taxes (except foreign withholding taxes). |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>1 Year</u>** | **<u>5 Years</u>** | **<u>Annualized Since Inception</u>** |
| Global X MSCI SuperDividend<sup>®</sup> EAFE ETF | 32.01% | 16.94% | 8.62% |
| MSCI EAFE Index (USD) (NR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 23.03% | 12.33% | 9.05% |
| MSCI EAFE Top 50 Dividend Index (USD) (NR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 32.74% | 17.48% | 9.12% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $33779750 | 49 | $93618 | 34.85% |

---

## What did the Fund invest in?

## Country Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](ieb2735d97a23a671b9e786cb.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Other Countries | 7.8% |
| Netherlands | 2.1% |
| China | 2.2% |
| Portugal | 2.4% |
| Sweden | 3.6% |
| Australia | 4.7% |
| Japan | 5.4% |
| Norway | 7.7% |
| Spain | 9.2% |
| Italy | 10.9% |
| United Kingdom | 13.7% |
| Hong Kong | 14.3% |
| France | 15.3% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;Repsol | 2.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fortescue | 2.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Banco BPM | 2.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;EDP | 2.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eni | 2.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;ACS Actividades de Construccion y Servicios | 2.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;CaixaBank | 2.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Sino Land | 2.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;SITC International Holdings | 2.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Hongkong Land Holdings | 2.2% |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/efas/ 

# Global X Funds

## Global X MSCI SuperDividend<sup>®</sup> EAFE ETF: EFAS
**Principal Listing Exchange: Nasdaq**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-EFAS-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X E-commerce ETF

## Ticker: EBIZ

## Principal Listing Exchange: Nasdaq

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X E-commerce ETF (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/ebiz/. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment</u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X E-commerce ETF | $57 | 0.50% |

---

## How did the Fund perform in the last year?
The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive E-commerce Index ("Secondary Index"). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Secondary Index.

The Secondary Index tracks the price movements in shares of companies which are (or are expected to be in the near future) active in the field of E-commerce, as defined by Solactive AG, the provider of the Secondary Index. The Secondary Index is designed to provide exposure to exchange-listed companies that are positioned to benefit from the increased adoption of e-commerce as a distribution model, including but not limited to companies whose principal business is in operating e-commerce platforms, providing e-commerce software and services, and or/selling goods and services online.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 26.48%, while the Secondary Index increased 27.00%. The Fund had a net asset value of $26.65 per share on October 31, 2024 and ended the reporting period with a net asset value of $33.59 per share on October 31, 2025.

The Fund posted a positive performance over the reporting period, helped by sector-specific and macro drivers across key markets. In the United States, online retail demand stayed firm, with second-quarter 2025 e-commerce sales up year over year, supporting revenue trends for major platforms. A shift toward more advantageous monetary policy also supported growth-oriented internet stocks, as the Federal Reserve cut rates and signaled additional easing. In China, online retail of physical goods rose year over year for January–August 2025, indicating resilient digital consumption that benefited companies with exposure to that market. Meanwhile, U.S. policy actions presented some headwinds to the theme, as higher prices deterred spending activity in key categories. Additionally, elevated policy rates in parts of Latin America during early to mid-2025 weighed on consumer credit and spending, though conditions later steadied and the Fund ultimately posted positive performance during the reporting period.

#### How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth Chart](ic78b3cd36a390f6f5b3a6f4d.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X E-commerce ETF** | **MSCI ACWI Index (USD) (NR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** | **Solactive E-commerce Index (USD) (NR)<sup>Footnote Reference†</sup>** |
| **Nov/18** | $10000 | $10000 | $10000 |
| **Oct/19** | $11720 | $11321 | $11788 |
| **Oct/20** | $17893 | $11875 | $18066 |
| **Oct/21** | $21005 | $16301 | $21295 |
| **Oct/22** | $10253 | $13048 | $10430 |
| **Oct/23** | $11497 | $14418 | $11745 |
| **Oct/24** | $18108 | $19146 | $18583 |
| **Oct/25** | $22903 | $23481 | $23601 |

---

Since its inception on November 27, 2018. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/ebiz/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;ACWI – All Country World Index |
| Footnote† | &nbsp;&nbsp;Net Return (NR) - Reflects no deductions for fees, expenses or taxes (except foreign withholding taxes). |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>1 Year</u>** | **<u>5 Years</u>** | **<u>Annualized Since Inception</u>** |
| Global X E-commerce ETF | 26.48% | 5.06% | 12.70% |
| MSCI ACWI Index (USD) (NR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 22.64% | 14.61% | 13.11% |
| Solactive E-commerce Index (USD) (NR)<sup>Footnote Reference†</sup> | 27.00% | 5.49% | 13.19% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $55754665 | 46 | $338304 | 19.38% |

---

## What did the Fund invest in?

## Asset/Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i4f0381395c3c3ecfc7b2259e.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Warrant | 0.0% |
| Financials | 0.5% |
| Repurchase Agreements | 1.7% |
| Consumer Staples | 2.9% |
| Real Estate | 3.1% |
| Industrials | 4.9% |
| Communication Services | 5.7% |
| Information Technology | 9.6% |
| Consumer Discretionary | 73.4% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;Shopify, Cl A | 5.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alibaba Group Holding ADR | 5.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;PDD Holdings ADR | 4.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Rakuten Group | 4.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Expedia Group | 4.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Williams-Sonoma | 4.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Vipshop Holdings ADR | 4.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Trip.com Group ADR | 4.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Etsy | 4.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com | 4.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Repurchase Agreements are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/ebiz/ 

# Global X Funds

## Global X E-commerce ETF: EBIZ
**Principal Listing Exchange: Nasdaq**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-EBIZ-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X S&P Catholic Values Developed ex-U.S. ETF

## Ticker: CEFA

## Principal Listing Exchange: Nasdaq

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X S&P Catholic Values Developed ex-U.S. ETF (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/cefa/. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment</u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X S&P Catholic Values Developed ex-U.S. ETF | $39 | 0.35% |

---

## How did the Fund perform in the last year?
The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P<sup>®</sup> Developed Ex-U.S. Catholic Values Index ("Secondary Index").

The Secondary Index is designed to provide exposure to developed market equity securities outside of the U.S. while maintaining alignment with the moral and social teachings of the Catholic Church. The Secondary Index is based on the S&P EPAC ex-Korea Large Cap Index. From this starting universe, constituents are screened to exclude companies involved in activities which are perceived to be inconsistent with Catholic values as outlined in the Socially Responsible Investment Guidelines of the U.S. Conference of Catholic Bishops. The Secondary Index then reweights the remaining constituents so that the Secondary Index's sector exposures match the current sector exposures of the S&P EPAC ex-Korea Large Cap Index.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 20.40%, while the Secondary Index increased 20.66%. The Fund had a net asset value of $31.05 per share on October 31, 2024 and ended the reporting period with a net asset value of $36.59 per share on October 31, 2025.

The Fund posted gains during the reporting period, supported by improving inflation trends across major developed markets outside the United States and growing expectations for easing monetary policy. A weaker yen aided Japan's exporters, while ongoing corporate governance efforts in Tokyo continued to draw investor interest in industrials- and consumer discretionary-related sectors. In Europe and the UK, signs of stabilizing growth and easing energy cost pressures were a tailwind to cyclical investment options and the financial sector, lifting broader market sentiment. Screening that excludes certain controversial industries modestly shifted sector exposure, which limited drawdowns during risk-on stretches. Mixed commodity pricing created cross-currents for resource-heavy markets like Canada and Australia, yet overall equity strength more than offset these pockets of weakness.

#### How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth Chart](i3c72a56d56de6457639fedd7.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X S&P Catholic Values Developed ex-U.S. ETF** | **MSCI EAFE Index (USD) (NR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** | **S&P<sup>®</sup> Developed ex-U.S. Catholic Values Index (USD) (NR)<sup>Footnote Reference†</sup>** |
| **Jun/20** | $10000 | $10000 | $10000 |
| **Oct/20** | $9972 | $9952 | $9981 |
| **Oct/21** | $13342 | $13353 | $13419 |
| **Oct/22** | $9858 | $10282 | $9932 |
| **Oct/23** | $11184 | $11763 | $11292 |
| **Oct/24** | $13871 | $14464 | $14048 |
| **Oct/25** | $16700 | $17795 | $16951 |

---

Since its inception on June 22, 2020. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/cefa/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;EAFE – Europe, Australasia, and the Far East |
| Footnote† | &nbsp;&nbsp;Net Return (NR) - Reflects no deductions for fees, expenses or taxes (except foreign withholding taxes). |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>1 Year</u>** | **<u>5 Years</u>** | **<u>Annualized Since Inception</u>** |
| Global X S&P Catholic Values Developed ex-U.S. ETF | 20.40% | 10.86% | 10.04% |
| MSCI EAFE Index (USD) (NR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 23.03% | 12.33% | 11.35% |
| S&P<sup>®</sup> Developed ex-U.S. Catholic Values Index (USD) (NR)<sup>Footnote Reference†</sup> | 20.66% | 11.17% | 10.34% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $25977123 | 360 | $72319 | 12.92% |

---

## What did the Fund invest in?

## Asset/Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](iae7656d46efb10041014e6f3.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Right | 0.0% |
| Real Estate | 1.3% |
| Utilities | 3.0% |
| Energy | 3.7% |
| Communication Services | 4.3% |
| Materials | 4.9% |
| Consumer Staples | 7.8% |
| Information Technology | 10.0% |
| Consumer Discretionary | 11.1% |
| Health Care | 12.0% |
| Industrials | 17.2% |
| Financials | 24.2% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;EssilorLuxottica | 2.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;ASML Holding | 2.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Toyota Motor | 1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;SAP | 1.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Siemens | 1.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Unilever PLC | 1.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Hoya | 1.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;CSL | 1.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;HSBC Holdings PLC | 1.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Shell PLC | 1.3% |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/cefa/ 

# Global X Funds

## Global X S&P Catholic Values Developed ex-U.S. ETF: CEFA
**Principal Listing Exchange: Nasdaq**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-CEFA-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X NASDAQ 100<sup>®</sup> Tail Risk ETF

## Ticker: QTR

## Principal Listing Exchange: Nasdaq

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X NASDAQ 100<sup>®</sup> Tail Risk ETF (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/qtr/. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment</u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X NASDAQ 100<sup>®</sup> Tail Risk ETF | $28 | 0.25% |

---

## How did the Fund perform in the last year?
The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Nasdaq-100 Quarterly Protective Put 90 Index ("Secondary Index").

The Secondary Index measures the performance of a risk management strategy that holds the underlying stocks of the NASDAQ 100 Index ("Reference Index") and applies a protective put strategy with long (purchased) put options on the Reference Index. The Secondary Index specifically reflects the performance of the component securities of the Reference Index, combined with a long position in 10% out-of-the-money ("OTM") put options that correspond to the value of the portfolio of stocks in the Reference Index.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 23.76%, while the Secondary Index increased 24.17%. The Fund had a net asset value of $30.08 per share on October 31, 2024 and ended the reporting period with a net asset value of $37.03 per share on October 31, 2025.

During the reporting period, the Fund delivered positive performance. The value of its put protection overlay became evident during periods of heightened equity market volatility, given the Fund's underlying exposure to U.S. large-cap technology companies. The Fund's uncapped structure allowed it to benefit from market gains during periods of rising equity prices. Performance was further supported by strong corporate earnings, particularly among leaders in AI technology development and cloud computing platforms. Although implied volatility rose at times due to macroeconomic uncertainty stemming from shifts in trade policy, advances in the Reference Index by period end more than offset the cost of initiating quarterly put protection, resulting in a net positive outcome.

#### How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth Chart](i691a41a7b0056335e9b15538.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X NASDAQ 100<sup>®</sup> Tail Risk ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **NASDAQ-100 Quarterly Protective Put 90 Index (USD) (TR)<sup>Footnote Reference\*</sup>** |
| **Aug/21** | $10000 | $10000 | $10000 |
| **Oct/21** | $10183 | $10266 | $10180 |
| **Oct/22** | $7749 | $8766 | $7832 |
| **Oct/23** | $9254 | $9655 | $9352 |
| **Oct/24** | $12333 | $13325 | $12505 |
| **Oct/25** | $15263 | $16184 | $15528 |

---

Since its inception on August 25, 2021. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/qtr/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>1 Year</u>** | **<u>Annualized Since Inception</u>** |
| Global X NASDAQ 100<sup>®</sup> Tail Risk ETF | 23.76% | 10.63% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 12.19% |
| NASDAQ-100 Quarterly Protective Put 90 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 24.17% | 11.08% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $3332678 | 104 | $7297 | 6.24% |

---

## What did the Fund invest in?

## Asset/Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i2f6eb91c671889ddc60c338d.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Real Estate | 0.1% |
| Purchased Options | 0.3% |
| Financials | 0.3% |
| Energy | 0.5% |
| Materials | 1.0% |
| Utilities | 1.4% |
| Industrials | 3.9% |
| Consumer Staples | 4.3% |
| Health Care | 4.4% |
| Consumer Discretionary | 13.1% |
| Communication Services | 14.7% |
| Information Technology | 55.9% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA | 10.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple | 8.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft | 8.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom | 6.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com | 5.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tesla | 3.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl A | 3.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl C | 3.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 2.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Netflix | 2.4% |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/qtr/ 

# Global X Funds

## Global X NASDAQ 100<sup>®</sup> Tail Risk ETF: QTR
**Principal Listing Exchange: Nasdaq**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-QTR-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF

## Ticker: QCLR

## Principal Listing Exchange: Nasdaq

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/qclr/. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment</u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF | $28 | 0.25% |

---

## How did the Fund perform in the last year?
The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Nasdaq 100 Quarterly Collar 95-110 Index ("Secondary Index"). The Fund is passively managed and the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Secondary Index.

The Secondary Index measures the performance of a risk management strategy that holds the underlying stocks of the NASDAQ 100<sup>®</sup> Index ("Reference Index") and applies an options collar strategy with a mix of short (sold) call options and long (purchased) put options on the Reference Index. The Secondary Index specifically reflects the performance of the component securities of the Reference Index, combined with a long position in 5% out-of-the-money ("OTM") put options and a short position in 10% OTM call options, each corresponding to the value of the portfolio of stocks in the Reference Index.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 20.00%, while the Secondary Index increased 21.23%. The Fund had a net asset value of $30.06 per share on October 31, 2024 and ended the reporting period with a net asset value of $33.17 per share on October 31, 2025.

The Fund delivered a positive performance during the reporting period as U.S. mega-cap tech strength and easing rate expectations lifted growth assets. A policy shift late in the year supported market valuations. In September, the Federal Reserve cut interest rates by 0.25%, and the yield on the 10-year Treasury moved near 4.00%. At the same time, inflation remained manageable, tempering fears of a renewed price surge. Sector leadership came from AI beneficiaries as marquee constituents reported strong results. Nvidia posted record quarterly revenue in late August and Microsoft highlighted accelerating cloud and AI momentum, helping lift tech-heavy indices to record highs in early October. The Fund's collar structure provided downside support during periods of volatility tied to hotter monthly inflation prints and fiscal uncertainty.

#### How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth Chart](ie080e822ff6434cef6a91a6a.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **NASDAQ-100 Quarterly Collar 95-110 Index (USD) (TR)<sup>Footnote Reference\*</sup>** |
| **Aug/21** | $10000 | $10000 | $10000 |
| **Oct/21** | $10202 | $10266 | $10187 |
| **Oct/22** | $8856 | $8766 | $8960 |
| **Oct/23** | $9476 | $9655 | $9575 |
| **Oct/24** | $12216 | $13325 | $12571 |
| **Oct/25** | $14659 | $16184 | $15240 |

---

Since its inception on August 25, 2021. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/qclr/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>1 Year</u>** | **<u>Annualized Since Inception</u>** |
| Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF | 20.00% | 9.57% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 12.19% |
| NASDAQ-100 Quarterly Collar 95-110 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.23% | 10.59% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $3317226 | 106 | $6085 | 7.94% |

---

## What did the Fund invest in?

## Asset/Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](icae9e439b32bb70bc93447b1.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Written Options | -1.2% |
| Real Estate | 0.2% |
| Financials | 0.3% |
| Energy | 0.5% |
| Purchased Options | 0.7% |
| Materials | 1.0% |
| Utilities | 1.4% |
| Industrials | 3.8% |
| Health Care | 4.5% |
| Consumer Staples | 4.4% |
| Consumer Discretionary | 13.2% |
| Communication Services | 14.8% |
| Information Technology | 56.3% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA | 10.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple | 8.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft | 8.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom | 6.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com | 5.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tesla | 3.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl A | 3.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl C | 3.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 2.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Netflix | 2.5% |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/qclr/ 

# Global X Funds

## Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF: QCLR
**Principal Listing Exchange: Nasdaq**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-QCLR-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X S&P 500<sup>®</sup> Tail Risk ETF

## Ticker: XTR

## Principal Listing Exchange: NYSE Arca, Inc.

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X S&P 500<sup>®</sup> Tail Risk ETF (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/xtr/. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment</u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X S&P 500<sup>®</sup> Tail Risk ETF | $27 | 0.25% |

---

## How did the Fund perform in the last year?
The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Cboe S&P 500<sup>®</sup> Tail Risk Index ("Secondary Index"). The Fund is passively managed and the investment adviser does not attempt to take defensive positions in declining markets. The Fund generally seeks to fully replicate the Secondary Index.

The Secondary Index measures the performance of a risk management strategy that holds the underlying stocks of the S&P 500<sup>®</sup> Index ("Reference Index") and applies a protective put strategy (i.e., long (purchased) put options) on the Reference Index. The Secondary Index specifically reflects the performance of the component securities of the Reference Index, combined with a long position in 10% out-of-the-money ("OTM") put options that correspond to the value of the portfolio of stocks in the Reference Index.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 16.60%, while the Secondary Index increased 17.01%. The Fund had a net asset value of $32.15 per share on October 31, 2024 and ended the reporting period with a net asset value of $31.08 per share on October 31, 2025.

The Fund delivered positive returns during the reporting period. Early-2025 market conditions alternated between periods of improving sentiment and renewed macro uncertainty, helping sustain consistent demand for hedges. Through 2025, shifting interest-rate expectations drove equity swings that supported a tail-risk overlay during market pullbacks. Tariff announcements and reversals fueled notable drawdowns in March, August, and late September, creating volatility spikes that tended to benefit downside hedges. Meanwhile, calmer stretches and a lower-than-expected April inflation reading reduced the need for downside protection, which led to smaller option payouts as investor risk appetite briefly improved.

#### How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth Chart](i44188f29d00ef703de364d9d.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X S&P 500<sup>®</sup> Tail Risk ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **Cboe S&P 500 Tail Risk Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** |
| **Aug/21** | $10000 | $10000 | $10000 |
| **Oct/21** | $10143 | $10266 | $10159 |
| **Oct/22** | $8725 | $8766 | $8801 |
| **Oct/23** | $9205 | $9655 | $9334 |
| **Oct/24** | $12369 | $13325 | $12571 |
| **Oct/25** | $14422 | $16184 | $14710 |

---

Since its inception on August 25, 2021. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/xtr/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |
| Footnote† | &nbsp;&nbsp;CBOE – Chicago Board Options Exchange |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>1 Year</u>** | **<u>Annualized Since Inception</u>** |
| Global X S&P 500<sup>®</sup> Tail Risk ETF | 16.60% | 9.14% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 12.19% |
| Cboe S&P 500 Tail Risk Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 17.01% | 9.66% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $2486427 | 504 | $5133 | 3.07% |

---

## What did the Fund invest in?

## Asset/Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i69fc63bdae198857d055eb5d.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Purchased Options | 0.3% |
| Materials | 1.6% |
| Real Estate | 1.8% |
| Utilities | 2.3% |
| Energy | 2.8% |
| Consumer Staples | 4.7% |
| Industrials | 8.1% |
| Health Care | 9.0% |
| Communication Services | 10.1% |
| Consumer Discretionary | 10.4% |
| Financials | 12.8% |
| Information Technology | 36.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA | 8.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple | 6.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft | 6.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com | 4.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom | 3.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl A | 2.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 2.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl C | 2.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tesla | 2.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway, Cl B | 1.5% |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/xtr/ 

# Global X Funds

## Global X S&P 500<sup>®</sup> Tail Risk ETF: XTR
**Principal Listing Exchange: NYSE Arca, Inc.**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-XTR-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X S&P 500<sup>®</sup> Collar 95-110 ETF

## Ticker: XCLR

## Principal Listing Exchange: NYSE Arca, Inc.

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X S&P 500<sup>®</sup> Collar 95-110 ETF (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/xclr/. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment</u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X S&P 500<sup>®</sup> Collar 95-110 ETF | $27 | 0.25% |

---

## How did the Fund perform in the last year?
The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Cboe S&P 500 3-Month Collar 95-110 Index ("Secondary Index").

The Secondary Index measures the performance of a risk management strategy that holds the underlying stocks of the S&P 500 Index ("Reference Index") and applies an options collar strategy with a mix of short (sold) call options and long (purchased) put options on the Reference Index. The Secondary Index specifically reflects the performance of the component securities of the Reference Index, combined with a long position in 5% out-of-the-money ("OTM") put options and a short position in 10% OTM call options, each corresponding to the value of the portfolio of stocks in the Reference Index.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 13.09%, while the Secondary Index increased 13.24%. The Fund had a net asset value of $31.96 per share on October 31, 2024 and ended the reporting period with a net asset value of $30.47 per share on October 31, 2025.

The Fund recorded a positive performance during the reporting period. In a market dominated by large-cap U.S. equities, improving corporate earnings and episodes of strength in technology supported equity levels, aiding results. However, the 95-110 collar structure meant written call options capped upside during strong rallies, moderating gains versus an unhedged index. At the same time, protective puts near 95% helped cushion pullbacks during periods of rate and inflation uncertainty, limiting drawdowns when volatility picked up. Shifts in expectations around central bank policy and occasional geopolitical headlines contributed to choppy trading ranges. Overall, the Fund's strategy benefited from steady equity conditions while its risk management features tempered the impact of both spikes and dips.

#### How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth Chart](i56c310b3b98578355d7b6af1.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **Cboe S&P 500 3-Month Collar 95-110 Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** |
| **Aug/21** | $10000 | $10000 | $10000 |
| **Oct/21** | $10106 | $10266 | $10112 |
| **Oct/22** | $9157 | $8766 | $9198 |
| **Oct/23** | $9358 | $9655 | $9454 |
| **Oct/24** | $12269 | $13325 | $12427 |
| **Oct/25** | $13875 | $16184 | $14072 |

---

Since its inception on August 25, 2021. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/xclr/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |
| Footnote† | &nbsp;&nbsp;CBOE – Chicago Board Options Exchange |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>1 Year</u>** | **<u>Annualized Since Inception</u>** |
| Global X S&P 500<sup>®</sup> Collar 95-110 ETF | 13.09% | 8.14% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 12.19% |
| Cboe S&P 500 3-Month Collar 95-110 Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 13.24% | 8.50% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $3656314 | 506 | $7847 | 20.62% |

---

## What did the Fund invest in?

## Asset/Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i02694b203095f51ee7e6d651.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Written Options | -0.2% |
| Purchased Options | 0.6% |
| Materials | 1.6% |
| Real Estate | 1.8% |
| Utilities | 2.4% |
| Energy | 2.8% |
| Consumer Staples | 4.7% |
| Industrials | 8.1% |
| Health Care | 8.9% |
| Communication Services | 9.9% |
| Consumer Discretionary | 10.4% |
| Financials | 12.8% |
| Information Technology | 36.1% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA | 8.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple | 6.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft | 6.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com | 4.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom | 3.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl A | 2.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 2.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl C | 2.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tesla | 2.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway, Cl B | 1.5% |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/xclr/ 

# Global X Funds

## Global X S&P 500<sup>®</sup> Collar 95-110 ETF: XCLR
**Principal Listing Exchange: NYSE Arca, Inc.**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-XCLR-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X Disruptive Materials ETF

## Ticker: DMAT

## Principal Listing Exchange: Nasdaq

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X Disruptive Materials ETF (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/dmat/. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment</u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X Disruptive Materials ETF | $75 | 0.59% |

---

## How did the Fund perform in the last year?
The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Disruptive Materials Index ("Secondary Index"). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets.

The Secondary Index is designed to provide exposure to "Disruptive Materials Companies," as defined by Solactive AG, the provider of the Secondary Index (the "Index Provider"). Disruptive Materials Companies are companies that produce metals and other raw or composite materials that have been identified as being essential to disruptive technologies such as lithium batteries, solar panels, wind turbines, fuel cells, robotics, and 3D printers.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 53.32%, while the Secondary Index increased 54.39%. The Fund had a net asset value of $16.12 per share on October 31, 2024 and ended the reporting period with a net asset value of $24.36 per share on October 31, 2025.

The Fund's performance was positive during the reporting period. Gains were supported by strength across key industrial and battery-related materials sectors, as investors leaned into ongoing electrification, grid upgrades, and AI-driven power infrastructure demand. Supply constraints from select mine shutdowns and slower project ramp-ups limited new output in some materials, which led to more supportive pricing and producer margins. Policy support in the United States and Europe for domestic critical mineral supply chains, alongside trade measures aimed at strategic materials, boosted sentiment toward upstream miners and processors. Additionally, US-China trade tensions highlighted rare earth elements' strategic value, spurring investment in non-Chinese sources and processing to mitigate supply risks. Additionally, evidence of tighter inventories and better capital discipline throughout the battery supply chain encouraged renewed buying, contributing to a strong finish for the Fund.

#### How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth Chart](i2060813b41201c751dc27e50.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X Disruptive Materials ETF** | **MSCI ACWI Index (USD) (NR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** | **Solactive Disruptive Materials Index (USD) (NR)<sup>Footnote Reference†</sup>** |
| **Jan/22** | $10000 | $10000 | $10000 |
| **Oct/22** | $7702 | $8414 | $7728 |
| **Oct/23** | $6165 | $9297 | $6209 |
| **Oct/24** | $7065 | $12346 | $7162 |
| **Oct/25** | $10832 | $15141 | $11057 |

---

Since its inception on January 24, 2022. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/dmat/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;ACWI – All Country World Index |
| Footnote† | &nbsp;&nbsp;Net Return (NR) - Reflects no deductions for fees, expenses or taxes (except foreign withholding taxes). |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>1 Year</u>** | **<u>Annualized Since Inception</u>** |
| Global X Disruptive Materials ETF | 53.32% | 2.14% |
| MSCI ACWI Index (USD) (NR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 22.64% | 11.63% |
| Solactive Disruptive Materials Index (USD) (NR)<sup>Footnote Reference†</sup> | 54.39% | 2.70% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $10230082 | 49 | $29992 | 46.17% |

---

## What did the Fund invest in?

## Country Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i760d71b71b46efdf7e0bcc95.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Indonesia | 0.4% |
| France | 0.5% |
| Canada | 3.1% |
| Chile | 4.2% |
| Japan | 4.2% |
| Sweden | 4.4% |
| Mexico | 8.6% |
| Australia | 11.5% |
| United States | 14.2% |
| South Africa | 17.7% |
| China | 31.2% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;Southern Copper | 4.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Zhejiang Huayou Cobalt, Cl A | 4.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Boliden | 4.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Albemarle | 4.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Antofagasta PLC | 4.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Grupo Mexico, Cl B | 4.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Rio Tinto PLC | 4.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eve Energy, Cl A | 4.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Valterra Platinum Limited | 3.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Anglo American PLC | 3.9% |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/dmat/ 

# Global X Funds

## Global X Disruptive Materials ETF: DMAT
**Principal Listing Exchange: Nasdaq**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-DMAT-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X Russell 2000 ETF

## Ticker: RSSL

## Principal Listing Exchange: NYSE Arca, Inc.

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X Russell 2000 ETF (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/rssl/. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment</u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X Russell 2000 ETF | $9 | 0.08% |

---

## How did the Fund perform in the last year?
The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Russell 2000 RIC Capped Index ("Secondary Index"). The Fund is passively managed and generally seeks to fully replicate the Secondary Index.

The Secondary Index is designed to provide exposure to the small-capitalization sector of the U.S. equity market, as defined by FTSE Russell, the provider of the Secondary Index. The Secondary Index uses float-adjusted market capitalization to weight securities in the Russell 2000 Index while limiting concentration in any single security to help users meet Regulated Investment Company ("RIC") concentration requirements for U.S. registered funds. Constituents are capped quarterly to limit overconcentration in any single security.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 14.35%, while the Secondary Index increased 14.41%. The Fund had a net asset value of $85.77 per share on October 31, 2024 and ended the reporting period with a net asset value of $96.60 per share October 31, 2025.

The Fund delivered positive returns during the reporting period, supported by improving U.S. macroeconomic conditions that generally favored domestically focused small-cap equities. The Federal Reserve lowered policy rates in late 2024 and again in September 2025, easing financing pressures for rate-sensitive smaller companies. Meanwhile, inflation continued to moderate, with the Consumer Price Index up 2.90% year over year in August 2025, bolstering valuations and investor risk appetite. Sentiment on Main Street improved after the November 2024 election, with the NFIB Small Business Optimism Index rising to 105.10 in December, even though readings later in 2025 moved lower, indicating more measured business expectations. Together, lower rates, easing inflation, stronger small-business sentiment, and early signs of industrial stabilization helped lift returns, even as lingering cost and policy uncertainties periodically tempered momentum.

#### How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth Chart](i6f83455bd0a6dab4c2d948b0.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X Russell 2000 ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **Russell 2000 RIC Capped Index (USD) (TR)<sup>Footnote Reference\*</sup>** |
| **Jun/24** | $10000 | $10000 | $10000 |
| **Jun/24** | $10082 | $10330 | $10082 |
| **Jul/24** | $11101 | $10456 | $11107 |
| **Aug/24** | $10936 | $10709 | $10941 |
| **Sep/24** | $11013 | $10938 | $11017 |
| **Oct/24** | $10853 | $10839 | $10858 |
| **Nov/24** | $12044 | $11475 | $12049 |
| **Dec/24** | $11048 | $11202 | $11054 |
| **Jan/25** | $11338 | $11514 | $11344 |
| **Feb/25** | $10731 | $11363 | $10737 |
| **Mar/25** | $10000 | $10723 | $10006 |
| **Apr/25** | $9769 | $10650 | $9775 |
| **May/25** | $10291 | $11321 | $10297 |
| **Jun/25** | $10848 | $11896 | $10857 |
| **Jul/25** | $11036 | $12163 | $11045 |
| **Aug/25** | $11823 | $12410 | $11834 |
| **Sep/25** | $12191 | $12863 | $12203 |
| **Oct/25** | $12411 | $13164 | $12423 |

---

Since its inception on June 4, 2024. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/rssl/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>1 Year</u>** | **<u>Annualized Since Inception</u>** |
| Global X Russell 2000 ETF | 14.35% | 16.58% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 21.56% |
| Russell 2000 RIC Capped Index (USD) (TR)<sup>Footnote Reference\*</sup> | 14.41% | 16.66% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $1340806370 | 1961 | $1147995 | 13.42% |

---

## What did the Fund invest in?

## Asset/Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](idadf87af35c7acffb11441cf.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Right | 0.0% |
| Futures Contracts | 0.0% |
| Short-Term Investment | 1.1% |
| Consumer Staples | 1.8% |
| Communication Services | 2.8% |
| Utilities | 3.3% |
| Materials | 3.9% |
| Energy | 5.0% |
| Real Estate | 5.5% |
| Consumer Discretionary | 8.8% |
| Information Technology | 16.4% |
| Financials | 17.0% |
| Health Care | 17.0% |
| Industrials | 18.3% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;Bloom Energy, Cl A | 1.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Credo Technology Group Holding | 1.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;IonQ | 0.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fabrinet | 0.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Kratos Defense & Security Solutions | 0.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;NEXTracker, Cl A | 0.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Oklo, Cl A | 0.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Rigetti Computing | 0.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;AeroVironment | 0.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;D-Wave Quantum | 0.4% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/rssl/ 

# Global X Funds

## Global X Russell 2000 ETF: RSSL
**Principal Listing Exchange: NYSE Arca, Inc.**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-RSSL-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X U.S. Electrification ETF

## Ticker: ZAP

## Principal Listing Exchange: Nasdaq

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X U.S. Electrification ETF (the "Fund") for the period from December 17, 2024 (commencement of operations) to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/zap/. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment<sup>Footnote Reference\*</sup></u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X U.S. Electrification ETF | $49 | 0.50% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Costs shown not annualized. If the Fund had been open for the full full fiscal year, costs would have been higher. |

---

## How did the Fund perform in the period?
The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Global X U.S. Electrification Index ("Secondary Index"). The Fund is passively managed, which means the investment adviser does not attempt to take defensive positions in declining markets.

The Secondary Index is owned and developed by Global X Management Company LLC ("Index Provider"), an affiliate of the Fund and the Fund's investment adviser. The Secondary Index is administered and calculated by Mirae Asset Global Indices Pvt. Ltd. ("Index Administrator"), an affiliate of the Index Provider. The Secondary Index is designed to track the performance of U.S. listed companies involved in electrification including Conventional and Alternative Electricity as well as Grid Infrastructure and Smart Grid Technologies, as determined by the Index Administrator.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 25.93%, while the Secondary Index increased 26.53%. The Fund had a net asset value of $24.64 per share on December 17, 2024 and ended the reporting period with a net asset value of $30.59 per share on October 31, 2025.

The Fund delivered positive returns during the reporting period. Demand-side fundamentals strengthened due to the potential for strong U.S. electricity demand growth, tied to AI-driven data centers, broader electrification, and manufacturing. As a result, many major utilities unveiled updated investment plans, supportive for grid infrastructure and smart grid as well as alternative electricity exposures. Corporate power purchase agreements further supported positive performances for traditional and alternative electricity providers. Strong demand outlooks and supportive policies also benefited nuclear power operators and small modular reactor developers, reinforcing investment opportunities in baseload clean power capacity. Countervailing forces included the federal pause of the National Electric Vehicle Infrastructure charging rollout and the phaseout of certain Electric Vehicle ("EV") tax credits, which weighed on EV charging-related holdings during the year. On balance, falling rates and accelerating power demand outweighed policy uncertainty for renewables and EV chargers, helping the strategy post gains over the period.

#### How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth Chart](i16ac37736320995ce507a084.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X U.S. Electrification ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **Global X U.S. Electrification Index (USD) (NR)<sup>Footnote Reference†</sup>** |
| **Dec/24** | $10000 | $10000 | $10000 |
| **Dec/24** | $9866 | $9725 | $9867 |
| **Jan/25** | $10155 | $9995 | $10161 |
| **Feb/25** | $10159 | $9865 | $10167 |
| **Mar/25** | $9980 | $9309 | $9993 |
| **Apr/25** | $10130 | $9246 | $10150 |
| **May/25** | $10640 | $9828 | $10663 |
| **Jun/25** | $10979 | $10328 | $11011 |
| **Jul/25** | $11653 | $10560 | $11693 |
| **Aug/25** | $11415 | $10774 | $11458 |
| **Sep/25** | $12101 | $11167 | $12154 |
| **Oct/25** | $12593 | $11428 | $12653 |

---

Since its inception on December 17, 2024. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/zap/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |
| Footnote† | &nbsp;&nbsp;Net Return (NR) - Reflects no deductions for fees, expenses or taxes (except foreign withholding taxes). |

---

## Average Annual Total Returns as of October 31, 2025

---

| | |
|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>Cumulative Since Inception</u>** |
| Global X U.S. Electrification ETF | 25.93% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 14.28% |
| Global X U.S. Electrification Index (USD) (NR)<sup>Footnote Reference†</sup> | 26.53% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $247152684 | 51 | $417247 | 18.09% |

---

## What did the Fund invest in?

## Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i13b74f8bcca629fc42420129.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Consumer Discretionary | 0.1% |
| Industrials | 22.1% |
| Utilities | 77.8% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;AMETEK | 4.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Quanta Services | 4.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;American Electric Power | 4.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eaton PLC | 4.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Entergy | 4.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Xcel Energy | 4.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;National Grid PLC ADR | 3.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Constellation Energy | 3.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Dominion Energy | 3.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Duke Energy | 3.9% |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/zap/ 

# Global X Funds

## Global X U.S. Electrification ETF: ZAP
**Principal Listing Exchange: Nasdaq**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-ZAP-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X S&P 500 U.S. Market Leaders Top 50 ETF

## Ticker: FLAG

## Principal Listing Exchange: NYSE Arca, Inc.

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X S&P 500 U.S. Market Leaders Top 50 ETF (the "Fund") for the period from April 15, 2025 (commencement of operations) to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/flag/. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment<sup>Footnote Reference\*</sup></u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X S&P 500 U.S. Market Leaders Top 50 ETF | $17 | 0.29% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Costs shown not annualized. If the Fund had been open for the full full fiscal year, costs would have been higher. |

---

## How did the Fund perform in the period?
The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P 500<sup>®</sup> U.S. Revenue Market Leaders 50 Index ("Secondary Index").

The Secondary Index is designed to provide exposure to the top 50 U.S.-listed and domiciled companies within the S&P 500, excluding those within S&P's Global Industry Classification Standard (GICS) Real Estate sector, that generate at least 50% of their revenues from in the U.S. Companies are ranked and selected based on their Market Leader Score, a quality screen developed by S&P which measures sustained free cash flow margin, sustained return on invested capital, and market share.

For the period from April 15, 2025 to October 31, 2025 (the "reporting period"), the Fund increased 10.52%, while the Secondary Index increased 10.70%. The Fund had a net asset value of $25.15 per share on April 15, 2025 and ended the reporting period with a net asset value of $27.75 per share on October 31, 2025.

The Fund posted positive performance over the reporting period. Favorable policy momentum aided sentiment after the Federal Reserve cut rates in mid-September, which supported valuations for large, cash-generative U.S. companies. Inflation was contained though edging higher, allowing markets to anticipate a gradual easing path despite lingering price pressures. Macro growth also provided a tailwind as real GDP rebounded in Q2 2025 after a weak first quarter, bolstering earnings expectations for the largest U.S. companies. Equity sentiment also benefited from AI investments by U.S. companies as a leading chipmakers' late-August results showed data-center demand remained strong, reinforcing spending trends tied to artificial intelligence. Though tariff-related cost pass-through partly offset these positive trends, the Fund finished with positive performance during the reporting period.

#### How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth Chart](i7d7b353adf26b73aa3a521a2.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X S&P 500 U.S. Market Leaders Top 50 ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **S&P 500<sup>®</sup> U.S. Revenue Market Leaders 50 Index (USD) (TR)<sup>Footnote Reference\*</sup>** |
| **Apr/25** | $10000 | $10000 | $10000 |
| **Apr/25** | $10167 | $10322 | $10167 |
| **May/25** | $10251 | $10972 | $10256 |
| **Jun/25** | $10598 | $11530 | $10606 |
| **Jul/25** | $10646 | $11789 | $10655 |
| **Aug/25** | $10893 | $12028 | $10909 |
| **Sep/25** | $11168 | $12467 | $11186 |
| **Oct/25** | $11052 | $12759 | $11070 |

---

Since its inception on April 15, 2025. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/flag/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | |
|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>Cumulative Since Inception</u>** |
| Global X S&P 500 U.S. Market Leaders Top 50 ETF | 10.52% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 27.59% |
| S&P 500<sup>®</sup> U.S. Revenue Market Leaders 50 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 10.70% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $1664830 | 49 | $3889 | 24.90% |

---

## What did the Fund invest in?

## Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i8e8574bd7b8c5acadf0eed92.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Energy | 0.3% |
| Communication Services | 2.5% |
| Industrials | 5.8% |
| Consumer Staples | 9.6% |
| Consumer Discretionary | 15.8% |
| Financials | 18.7% |
| Information Technology | 23.4% |
| Health Care | 23.8% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;Oracle | 6.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase | 4.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com | 4.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;AbbVie | 4.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft | 4.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group | 4.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly | 4.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Walmart | 4.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Home Depot | 4.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Cisco Systems | 4.3% |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/flag/ 

# Global X Funds

## Global X S&P 500 U.S. Market Leaders Top 50 ETF: FLAG
**Principal Listing Exchange: NYSE Arca, Inc.**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-FLAG-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X S&P 500 U.S. Revenue Leaders ETF

## Ticker: EGLE

## Principal Listing Exchange: NYSE Arca, Inc.

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X S&P 500 U.S. Revenue Leaders ETF (the "Fund") for the period from April 15, 2025 (commencement of operations) to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/egle. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment<sup>Footnote Reference\*</sup></u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X S&P 500 U.S. Revenue Leaders ETF | $11 | 0.19% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Costs shown not annualized. If the Fund had been open for the full full fiscal year, costs would have been higher. |

---

## How did the Fund perform in the period?
The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P 500<sup>®</sup> U.S. Revenue Leaders Index ("Secondary Index").

The Secondary Index is designed to provide more precise U.S. equity exposure by tracking S&P 500 companies that generate at least 50% of their revenue from the U.S. The Secondary Index leverages a "modified" capitalization weighting methodology that aims to balance sector exposure and limit concentration in the largest stocks, while offering a more targeted approach to investing in the U.S. economy.

For the period from April 15, 2025 to October 31, 2025 (the "reporting period"), the Fund increased 17.71%, while the Secondary Index increased 17.80%. The Fund had a net asset value of $24.64 per share on April 15, 2025 and ended the reporting period with a net asset value of $29.24 per share on October 31, 2025.

The Fund posted positive performance over the reporting period supported by improving U.S. macro conditions and easing financial policy. A September policy shift, with the Federal Reserve cutting the federal funds rate by 0.25, relaxed financial conditions and bolstered domestically focused equities. Inflation remained controlled, reinforcing expectations for additional easing and supporting valuation multiples. Trade policy developments in 2025, maintaining a baseline tariff regime while adjusting select rates, favored companies with high U.S. revenue exposure by shielding some categories from foreign competition. Late-September measures on timber and furniture imports reflected this dynamic, potentially aiding U.S. manufacturers while keeping goods-price pressures elevated but manageable relative to recent inflation readings.

#### How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth Chart](i509a17432c9479d38b13d961.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X S&P 500 U.S. Revenue Leaders ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **S&P 500<sup>®</sup> U.S. Revenue Leaders Index (USD) (TR)<sup>Footnote Reference\*</sup>** |
| **Apr/25** | $10000 | $10000 | $10000 |
| **Apr/25** | $10313 | $10322 | $10314 |
| **May/25** | $10811 | $10972 | $10815 |
| **Jun/25** | $11256 | $11530 | $11263 |
| **Jul/25** | $11397 | $11789 | $11404 |
| **Aug/25** | $11490 | $12028 | $11496 |
| **Sep/25** | $11703 | $12467 | $11711 |
| **Oct/25** | $11771 | $12759 | $11780 |

---

Since its inception on April 15, 2025. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/egle for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | |
|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>Cumulative Since Inception</u>** |
| Global X S&P 500 U.S. Revenue Leaders ETF | 17.71% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 27.59% |
| S&P 500<sup>®</sup> U.S. Revenue Leaders Index (USD) (TR)<sup>Footnote Reference\*</sup> | 17.80% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $2046491 | 370 | $2221 | 8.78% |

---

## What did the Fund invest in?

## Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i7d9d6302105ca54ed01cb09c.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Materials | 1.0% |
| Energy | 2.1% |
| Real Estate | 2.9% |
| Utilities | 4.0% |
| Communication Services | 4.2% |
| Consumer Staples | 4.8% |
| Industrials | 10.6% |
| Consumer Discretionary | 12.1% |
| Health Care | 13.0% |
| Financials | 16.5% |
| Information Technology | 28.7% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft | 10.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com | 6.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway, Cl B | 2.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase | 2.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Oracle | 2.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Palantir Technologies, Cl A | 2.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly | 1.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Cisco Systems | 1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Micron Technology | 1.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Salesforce | 1.4% |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/egle 

# Global X Funds

## Global X S&P 500 U.S. Revenue Leaders ETF: EGLE
**Principal Listing Exchange: NYSE Arca, Inc.**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-EGLE-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

# Global X Funds
![Image](i7be75d03548abf9eb5eeabfe.jpg)

## Global X S&P 500<sup>®</sup> Christian Values ETF

## Ticker: CHRI

## Principal Listing Exchange: Nasdaq

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X S&P 500<sup>®</sup> Christian Values ETF (the "Fund") for the period from September 23, 2025 (commencement of operations) to October 31, 2025. You can find additional information about the Fund at https://www.globalxetfs.com/funds/chri. You can also request this information by contacting us at 1-888-493-8631.

## What were the Fund costs for the period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **<u>Fund Name</u>** | **<u>Costs of a $10,000 investment<sup>Footnote Reference\*</sup></u>** | **<u>Costs paid as a percentage of a $10,000 investment</u>** |
| Global X S&P 500<sup>®</sup> Christian Values ETF | $3 | 0.29% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Costs shown not annualized. If the Fund had been open for the full full fiscal year, costs would have been higher. |

---

## How did the Fund perform in the period?
The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P 500<sup>®</sup> Christian Values Screened Index (the "Secondary Index").

The Secondary Index provides exposure to the companies within the S&P 500<sup>®</sup> Index whose business practices adhere to the biblical values as outlined by Bountiful Financial, LLC's Christian Evangelical Framework and excludes those that do not. The Secondary Index then reweights the remaining constituents so that the Secondary Index's sector exposures matches the sector exposures of the S&P 500 Index.

For the period from September 23, 2025 to October 31, 2025 (the "reporting period"), the Fund increased 2.64%, while the Secondary Index increased 2.65%. The Fund had a net asset value of $79.61 per share on September 23, 2025 and ended the reporting period with a net asset value of $81.71 per share on October 31, 2025.

The Fund delivered a positive return during the reporting period, supported by U.S. equity record highs driven in part by investor optimism around artificial intelligence, as well as gradual policy easing. Strong returns from large U.S. technology firms culminating in late - August helped lift the S&P 500 record highs and were a clear tailwind for information technology and communication services allocations. Offsetting factors included uneven earnings results outside the large-cap technology segment and ongoing inflation uncertainty, contributing to occasional volatility even as markets looked through short-term noise. Overall, a mix of resilient earnings, lower rates, tempered inflation, and the prospect of additional policy support created a constructive backdrop for U.S. large-cap holdings.

#### How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth Chart](i6a18df04dcd1456c28bad1ef.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X S&P 500<sup>®</sup> Christian Values ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **S&P 500 Christian Values Screened Index (USD) (TR)<sup>Footnote Reference\*</sup>** |
| **Sep/25** | $10000 | $10000 | $10000 |
| **Sep/25** | $10038 | $10049 | $10037 |
| **Oct/25** | $10264 | $10284 | $10265 |

---

Since its inception on September 23, 2025. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. **Past performance is not indicative of future performance.**Call 1-888-493-8631 or visit https://www.globalxetfs.com/funds/chri for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\* | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | |
|:---|:---|
| **<u>Fund/Index Name</u>** | **<u>Cumulative Since Inception</u>** |
| Global X S&P 500<sup>®</sup> Christian Values ETF | 2.64% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 2.84% |
| S&P 500 Christian Values Screened Index (USD) (TR)<sup>Footnote Reference\*</sup> | 2.65% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Number of Portfolio Holdings</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $2451404 | 469 | $618 | 1.12% |

---

## What did the Fund invest in?

## Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i8e6593683dd10ae5ced9346a.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Materials | 1.7% |
| Real Estate | 1.9% |
| Utilities | 2.3% |
| Energy | 2.8% |
| Consumer Staples | 4.8% |
| Industrials | 8.1% |
| Health Care | 8.7% |
| Communication Services | 10.1% |
| Consumer Discretionary | 10.6% |
| Financials | 12.7% |
| Information Technology | 36.2% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote\* | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

## Top Ten Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA | 8.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple | 6.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft | 6.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com | 4.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom | 3.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl A | 2.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 2.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl C | 2.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tesla | 2.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway, Cl B | 1.6% |

---

## Material Fund Changes
There were no material changes during the reporting period that are required to be disclosed in this report. For more complete information about other changes to the Fund, you may review the Fund's current prospectus, which is available upon request.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-493-8631 

* https://www.globalxetfs.com/funds/chri 

# Global X Funds

## Global X S&P 500<sup>®</sup> Christian Values ETF: CHRI
**Principal Listing Exchange: Nasdaq**

**Annual Shareholder Report: October 31, 2025**

**GX-AR-CHRI-2025**

![Image](i7be75d03548abf9eb5eeabfe.jpg)

(b) Not applicable.

Item 2. Code of Ethics.

The registrant has adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer, controller or principal accounting officer, and any person who performs a similar function.

Item 3. Audit Committee Financial Expert.

(a)(1) The registrant's board of directors has determined that the registrant has at least one audit committee financial expert serving on the audit committee.

(a)(2) The audit committee financial experts are Charles A. Baker and Toai Chin and each is independent as defined in Form N-CSR Item 3(a)(2).

**Item 4.** **Principal Accountant Fees and Services.**

Fees billed by PricewaterhouseCoopers LLP ("PwC") relate to the registrant.

PWC billed the registrant aggregate fees for services rendered to the registrant for the last two fiscal years as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;2025 | &nbsp;&nbsp;2025 | &nbsp;&nbsp;2025 | &nbsp;&nbsp;2024 | &nbsp;&nbsp;2024 | &nbsp;&nbsp;2024 |
|  |  | &nbsp;&nbsp;All fees and <br> services to <br> the Trust <br> that were <br> pre-<br> approved | &nbsp;&nbsp;All fees and <br> services to <br> service <br> affiliates <br> that were <br> pre-<br> approved | &nbsp;&nbsp;All other <br> fees and <br> services to <br> service <br> affiliates <br> that did not <br> require pre-<br> approval | &nbsp;&nbsp;All fees and <br> services to <br> the Trust <br> that were <br> pre-<br> approved | &nbsp;&nbsp;All fees and <br> services to <br> service <br> affiliates <br> that were <br> pre-<br> approved | &nbsp;&nbsp;All other <br> fees and <br> services to <br> service <br> affiliates <br> that did not <br> require pre-<br> approval |
| &nbsp;&nbsp;(a) | &nbsp;&nbsp;Audit Fees | &nbsp;&nbsp;$1531394 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$1727672 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 |
| &nbsp;&nbsp;(b) | &nbsp;&nbsp;Audit-Related Fees | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 |
| &nbsp;&nbsp;(c) | &nbsp;&nbsp;Tax Fees<sup>(1)</sup> | &nbsp;&nbsp;$564637 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$487204 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 |
| &nbsp;&nbsp;(d) | &nbsp;&nbsp;All Other Fees | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 |

---

Notes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Tax Compliance and excise distribution services.

(e)(1) Not applicable.

(e)(2) Percentage of fees billed applicable to non-audit services pursuant to waiver of pre-approval requirement were as follows (PwC):

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;2025 | &nbsp;&nbsp;2024 |
| &nbsp;&nbsp;Audit-Related Fees | &nbsp;&nbsp;0% | &nbsp;&nbsp;0% |
| &nbsp;&nbsp;Tax Fees | &nbsp;&nbsp;0% | &nbsp;&nbsp;0% |
| &nbsp;&nbsp;All Other Fees | &nbsp;&nbsp;0% | &nbsp;&nbsp;0% |

---

(f) Not applicable.

(g) The aggregate non-audit fees and services billed by PwC for the last two fiscal years were $564,637 and $487,204, respectively.

(h) During the past fiscal year, all non-audit services provided by registrant's principal accountant to either registrant's investment adviser or to any entity controlling, controlled by, or under common control with registrant's investment adviser that provides ongoing services to registrant were pre-approved by the audit committee of registrant's Board of Trustees. Included in the audit committee's pre-approval was the review and consideration as to whether the provision of these non-audit services is compatible with maintaining the principal accountant's independence.

(i) Not applicable.

(j) Not applicable.

Item 5. Audit Committee of Listed Registrants.

The registrant has a separately-designated standing Audit Committee, which is composed of the registrant's Independent Trustees, Charles A. Baker, Toai Chin and Clifford J. Weber.

Item 6. Investments.

(a) The Schedules of Investments and Consolidated Schedules of Investments are included as part of the financial statements and financial highlights filed under Item 7 of this form.

(b) Not applicable.

**Item 7.** **Financial Statements and Financial Highlights for Open-End Management Investment Companies.**

Financial statements and financial highlights are filed herein.

![](x1_c114723x1x1m4.jpg)

**Global X Lithium & Battery Tech ETF (ticker: LIT)**

**Global X SuperDividend<sup>®</sup> ETF (ticker: SDIV)**

**Global X Social Media ETF (ticker: SOCL)**

**Global X Guru<sup>®</sup> Index ETF (ticker: GURU)**

**Global X SuperIncome™ Preferred ETF (ticker: SPFF)**

**Global X SuperDividend<sup>®</sup> U.S. ETF (ticker: DIV)**

**Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF (ticker: SDEM)**

**Global X SuperDividend<sup>®</sup> REIT ETF (ticker: SRET)**

**Global X Renewable Energy Producers ETF (ticker: RNRG)**

**Global X S&P 500<sup>®</sup> Catholic Values ETF (ticker: CATH)**

**Global X MSCI SuperDividend<sup>®</sup> EAFE ETF (ticker: EFAS)**

**Global X E-commerce ETF (ticker: EBIZ)**

**Global X S&P Catholic Values Developed ex-U.S. ETF (ticker: CEFA)**

**Global X NASDAQ 100<sup>®</sup> Tail Risk ETF (ticker: QTR)**

**Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF (ticker: QCLR)**

**Global X S&P 500<sup>®</sup> Tail Risk ETF (ticker: XTR)**

**Global X S&P 500<sup>®</sup> Collar 95-110 ETF (ticker: XCLR)**

**Global X Disruptive Materials ETF (ticker: DMAT)**

**Global X Russell 2000 ETF (ticker: RSSL)**

**Global X U.S. Electrification ETF (ticker: ZAP)**

**Global X S&P 500 U.S. Market Leaders Top 50 ETF (ticker: FLAG)**

**Global X S&P 500 U.S. Revenue Leaders ETF (ticker: EGLE)**

**Global X S&P 500<sup>®</sup> Christian Values ETF (ticker: CHRI)**

**Annual Financials and Other Information October 31, 2025**

![](logom4.jpg)

**Table of Contents**

------

---

| | |
|:---|:---|
| Financial Statements (Form N-CSR Item 7) |  |
| &nbsp;&nbsp;&nbsp;[Schedules of Investments](#xx1xc114723a001xm4) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X Lithium & Battery Tech ETF](#xx1xc114723a002xm4) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X SuperDividend<sup>®</sup> ETF](#xx1xc114723a003xm4) | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X Social Media ETF](#xx1xc114723a004xm4) | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X Guru<sup>®</sup> Index ETF](#xx1xc114723a005xm4) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X SuperIncome™ Preferred ETF](#xx1xc114723a006xm4) | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X SuperDividend<sup>®</sup> U.S. ETF](#xx1xc114723a007xm4) | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF](#xx1xc114723a008xm4) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X SuperDividend<sup>®</sup> REIT ETF](#xx1xc114723a009xm4) | 42 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X Renewable Energy Producers ETF](#xx1xc114723a010xm4) | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X S&P 500<sup>®</sup> Catholic Values ETF](#xx1xc114723a011xm4) | 52 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X MSCI SuperDividend<sup>®</sup> EAFE ETF](#xx1xc114723a012xm4) | 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X E-commerce ETF](#xx1xc114723a013xm4) | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X S&P Catholic Values Developed ex-US ETF](#xx1xc114723a014xm4) | 76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X NASDAQ 100<sup>®</sup> Tail Risk ETF](#xx1xc114723a015xm4) | 97 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF](#xx1xc114723a016xm4) | 102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X S&P 500<sup>®</sup> Tail Risk ETF](#xx1xc114723a017xm4) | 108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X S&P 500<sup>®</sup> Collar 95-110 ETF](#xx1xc114723a018xm4) | 123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X Disruptive Materials ETF](#xx1xc114723a019xm4) | 139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X Russell 2000 ETF](#xx1xc114723a020xm4) | 143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X U.S. Electrification ETF](#xx1xc114723a021xm4) | 202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X S&P 500 U.S. Market Leaders Top 50 ETF](#xx1xc114723a022xm4) | 205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X S&P 500 U.S. Revenue Leaders ETF](#xx1xc114723a023xm4) | 208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X S&P 500<sup>®</sup> Christian Values ETF](#xx1xc114723a024xm4) | 219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Glossary](#xx1xc114723a025xm4) | 233 |
| &nbsp;&nbsp;&nbsp;[Statements of Assets and Liabilities](#xx1xc114723a026xm4) | 234 |
| &nbsp;&nbsp;&nbsp;[Statements of Operations](#xx1xc114723a027xm4) | 241 |
| &nbsp;&nbsp;&nbsp;[Statements of Changes](#xx1xc114723a028xm4) | 247 |
| &nbsp;&nbsp;&nbsp;[Financial Highlights](#xx1xc114723a029xm4) | 259 |
| &nbsp;&nbsp;&nbsp;[Notes to Financial Statements](#xx1xc114723a030xm4) | 275 |
| [Report of Independent Registered Public Accounting Firm](#xx1xc114723a031xm4) | 305 |
| [Notice to Shareholders (Unaudited)](#xx1xc114723a032xm4) | 307 |
| [Other Information (Form N-CSR Items 8-11)](#xx1xc114723a033xm4) | 311 |

---

Shares are bought and sold at market price (not net asset value ("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.

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Lithium & Battery Tech ETF** | **Global X Lithium & Battery Tech ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 99.9%** |  |  |
| **AUSTRALIA — 26.8%** |  |  |
| Materials — 26.8% |  |  |
| &nbsp;&nbsp;&nbsp;Elevra Lithium <sup>\*(A)</sup> | 842623 | $2454729 |
| &nbsp;&nbsp;&nbsp;ESG Minerals <sup>\*(B)</sup> | 397586 |  |
| &nbsp;&nbsp;&nbsp;European Lithium \* | 7139809 | 1215263 |
| &nbsp;&nbsp;&nbsp;IGO \* | 3890692 | 13677647 |
| &nbsp;&nbsp;&nbsp;ioneer <sup>\*(A)</sup> | 11360722 | 1375903 |
| &nbsp;&nbsp;&nbsp;Liontown Resources <sup>\*(A)</sup> | 11754262 | 9041563 |
| &nbsp;&nbsp;&nbsp;Mineral Resources \* | 978386 | 31000296 |
| &nbsp;&nbsp;&nbsp;Pilbara Minerals <sup>\*(A)</sup> | 17835956 | 38531914 |
| &nbsp;&nbsp;&nbsp;Rio Tinto PLC ADR | 3751588 | 269138923 |
| &nbsp;&nbsp;&nbsp;Vulcan Energy Resources <sup>\*(A)</sup> | 984004 | 4335330 |
| TOTAL AUSTRALIA |  | 370771568 |
| **BRAZIL — 0.2%** |  |  |
| Materials — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Sigma Lithium <sup>\*(A)</sup> | 358417 | 2326126 |
| **CANADA — 1.1%** |  |  |
| Materials — 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;Lithium Americas <sup>\*(A)</sup> | 1214315 | 6699251 |
| &nbsp;&nbsp;&nbsp;Lithium Americas Argentina <sup>\*(A)</sup> | 672578 | 2832109 |
| &nbsp;&nbsp;&nbsp;PMET Resources <sup>\*(A)</sup> | 808280 | 2174796 |
| &nbsp;&nbsp;&nbsp;Standard Lithium \* | 959263 | 3628515 |
| TOTAL CANADA |  | 15334671 |
| **CHILE — 2.9%** |  |  |
| Materials — 2.9% |  |  |
| &nbsp;&nbsp;&nbsp;Sociedad Quimica y Minera de Chile ADR <sup>\*(A)</sup> | 821131 | 40227208 |
| **CHINA — 37.0%** |  |  |
| Consumer Discretionary — 3.6% |  |  |
| &nbsp;&nbsp;&nbsp;BYD, Cl H | 3838721 | 49686747 |
| Industrials — 15.0% |  |  |
| &nbsp;&nbsp;&nbsp;Contemporary Amperex Technology, Cl A | 1015309 | 55420925 |
| &nbsp;&nbsp;&nbsp;Eve Energy, Cl A | 4766688 | 55669642 |
| &nbsp;&nbsp;&nbsp;Jiangxi Special Electric Motor, Cl A \* | 7801240 | 12388223 |

---

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

*1*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Lithium & Battery Tech ETF** | **Global X Lithium & Battery Tech ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Sunwoda Electronic, Cl A | 7630591 | $38408745 |
| &nbsp;&nbsp;&nbsp;Wuxi Lead Intelligent Equipment, Cl A | 5507439 | 45259631 |
|  |  | 207147166 |
| Information Technology — 3.7% |  |  |
| &nbsp;&nbsp;&nbsp;NAURA Technology Group, Cl A | 910335 | 52027359 |
| Materials — 14.7% |  |  |
| &nbsp;&nbsp;&nbsp;Ganfeng Lithium Group, Cl A | 5965700 | 57812154 |
| &nbsp;&nbsp;&nbsp;Guangzhou Tinci Materials Technology, Cl A | 6343185 | 35508833 |
| &nbsp;&nbsp;&nbsp;Shanghai Putailai New Energy Technology, Cl A | 5556015 | 22802109 |
| &nbsp;&nbsp;&nbsp;Sinomine Resource Group, Cl A | 3164766 | 24994642 |
| &nbsp;&nbsp;&nbsp;Tianqi Lithium, Cl A \* | 5573988 | 41791703 |
| &nbsp;&nbsp;&nbsp;Yunnan Energy New Material, Cl A \* | 2969959 | 20232709 |
|  |  | 203142150 |
| TOTAL CHINA |  | 512003422 |
| **FRANCE — 0.2%** |  |  |
| Materials — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Eramet <sup>(A)</sup> | 51295 | 3516763 |
| **JAPAN — 7.9%** |  |  |
| Consumer Discretionary — 3.6% |  |  |
| &nbsp;&nbsp;&nbsp;Panasonic Holdings | 4258847 | 49719492 |
| Information Technology — 4.3% |  |  |
| &nbsp;&nbsp;&nbsp;TDK | 3401702 | 59022748 |
| TOTAL JAPAN |  | 108742240 |
| **NETHERLANDS — 0.4%** |  |  |
| Materials — 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;AMG Critical Materials <sup>(A)</sup> | 172676 | 5743909 |
| **SOUTH KOREA — 11.8%** |  |  |
| Industrials — 7.2% |  |  |
| &nbsp;&nbsp;&nbsp;Ecopro \* | 279318 | 31367524 |
| &nbsp;&nbsp;&nbsp;L&F \* | 142769 | 12235195 |

---

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

*2*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Lithium & Battery Tech ETF** | **Global X Lithium & Battery Tech ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;LG Energy Solution \* | 166982 | $55436032 |
|  |  | 99038751 |
| Information Technology — 4.6% |  |  |
| &nbsp;&nbsp;&nbsp;Samsung SDI | 283664 | 64109358 |
| TOTAL SOUTH KOREA |  | 163148109 |
| **UNITED STATES — 11.6%** |  |  |
| Consumer Discretionary — 4.8% |  |  |
| &nbsp;&nbsp;&nbsp;Lucid Group <sup>\*(A)</sup> | 727727 | 12917154 |
| &nbsp;&nbsp;&nbsp;Tesla \* | 116098 | 53005703 |
|  |  | 65922857 |
| Industrials — 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;EnerSys | 224201 | 28285198 |
| Materials — 4.8% |  |  |
| &nbsp;&nbsp;&nbsp;Albemarle <sup>(A)</sup> | 674851 | 66290614 |
| TOTAL UNITED STATES |  | 160498669 |
| TOTAL COMMON STOCK<br> (Cost $1,135,769,185) |  | 1382312685 |
|  | **Face Amount** |  |
| **REPURCHASE AGREEMENTS<sup>(C)</sup> — 5.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Cantor Fitzgerald Securities <br> 4.200%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $15,624,466 (collateralized by various U.S. Government Obligations and U.S. Treasury Obligations, ranging in par value $7,895 - $2,968,547, 1.000% - 6.500%, 02/28/2027 - 02/01/2057, with a total market value of $15,849,408) | $15618999 | 15618999 |

---

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

*3*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Lithium & Battery Tech ETF** | **Global X Lithium & Battery Tech ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| **REPURCHASE AGREEMENTS<sup>(C)</sup> — continued** |  |  |
| &nbsp;&nbsp;&nbsp;Citadel Securities LLC <br> 4.260%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $17,348,274 (collateralized by various U.S. Treasury Obligations, ranging in par value $991 - $1,610,615, 0.000% - 4.875%, 11/04/2025 - 08/15/2055, with a total market value of $17,671,247) | $17342118 | $17342118 |
| &nbsp;&nbsp;&nbsp;Daiwa Capital Markets America, Inc. <br> 4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $16,307,229 (collateralized by various U.S. Government Obligations and U.S. Treasury Obligations, ranging in par value $1,602 - $5,096,377, 1.500% - 7.500%, 06/30/2027 - 10/20/2055, with a total market value of $16,556,279) | 16301591 | 16301591 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank Securities, Inc. <br> 3.950%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $3,389,328 (collateralized by various U.S. Treasury Obligations, ranging in par value $73,033 - $390,733, 1.125% - 6.750%, 02/15/2026 - 08/15/2055, with a total market value of $3,414,409) | 3388213 | 3388213 |
| &nbsp;&nbsp;&nbsp;HSBC Securities USA, Inc. <br> 4.140%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $1,040,886 (collateralized by various U.S. Treasury Obligations, ranging in par value $204,829 - $393,939, 0.125% - 3.625%, 07/15/2030 - 02/15/2051, with a total market value of $1,053,314) | 1040527 | 1040527 |
| &nbsp;&nbsp;&nbsp;HSBC Securities USA, Inc. <br> 4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $2,818,273 (collateralized by various U.S. Treasury Obligations, ranging in par value $57,884 - $756,557, 0.000% - 4.750%, 01/02/2026 - 11/15/2053, with a total market value of $2,846,840) | 2817299 | 2817299 |

---

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

*4*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Lithium & Battery Tech ETF** | **Global X Lithium & Battery Tech ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| **REPURCHASE AGREEMENTS<sup>(C)</sup> — continued** |  |  |
| &nbsp;&nbsp;&nbsp;HSBC Securities USA, Inc. <br> 4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $13,488,955 (collateralized by various U.S. Government Obligations, ranging in par value $19,217 - $9,522,017, 1.550% - 7.000%, 01/01/2032 - 06/01/2055, with a total market value of $13,704,440) | $13484292 | $13484292 |
| &nbsp;&nbsp;&nbsp;JP Morgan Securities LLC <br> 4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $3,804,523 (collateralized by various U.S. Government Obligations, ranging in par value $24,721 - $1,365,007, 3.000% - 7.000%, 04/01/2038 - 10/01/2055, with a total market value of $3,860,285) | 3803208 | 3803208 |
| TOTAL REPURCHASE AGREEMENTS<br> (Cost $73,796,247) |  | 73796247 |
| TOTAL INVESTMENTS — 105.2%<br> (Cost $1,209,565,432) |  | $1456108932 |

---

*Percentages are based on Net Assets of $1,384,355,571.*

*\** *Non-income producing security.*

*(A)* *This security or a partial position of this security is on loan at October 31, 2025. The total market value of securities on loan at October 31, 2025 was $119,027,184.*

*(B)* *Level 3 security in accordance with fair value hierarchy.*

*(C)* *These securities were purchased with cash collateral held from securities on loan. The total value of such securities as of October 31, 2025 was $73,796,247. The total value of non-cash collateral held from securities on loan as of October 31, 2025 was $48,909,182.*

*The following is a summary of the level of inputs used as of October 31, 2025, in valuing the Fund's investments carried at value:*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Investments in Securities | *Level 1* | *Level 2* | *Level 3<sup>(1)</sup>* |  | *Total* |
| &nbsp;&nbsp;&nbsp;*Common Stock* | $*1382312685* | $*—* | $*—* | *<sup>^</sup>* | $*1382312685* |
| &nbsp;&nbsp;&nbsp;*Repurchase Agreements* | *—* | *73796247* | *—* |  | *73796247* |
| *Total Investments in Securities* | $*1382312685* | $*73796247* | $*—* |  | $*1456108932* |

---

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

*5*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Lithium & Battery Tech ETF** | **Global X Lithium & Battery Tech ETF** |

---

---

| | |
|:---|:---|
| *(1)* | *A reconciliation of Level 3 investments and disclosures of significant unobservable inputs are presented when the Fund has a significant amount of Level 3 investments at the end of the period in relation to Net Assets. Management has concluded that Level 3 investments are not material in relation to Net Assets.* |
| *^* | *Includes Securities in which the fair value is $0 or has been rounded to $0.* |

---

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

*See "Glossary" for abbreviations.*

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

*6*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperDividend<sup>®</sup> ETF** | **Global X SuperDividend<sup>®</sup> ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 95.4%** |  |  |
| **AUSTRALIA — 1.1%** |  |  |
| Industrials — 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;McMillan Shakespeare | 1003337 | $11310719 |
| **BRAZIL — 9.2%** |  |  |
| Consumer Discretionary — 2.9% |  |  |
| &nbsp;&nbsp;&nbsp;Direcional Engenharia | 5217200 | 16450434 |
| &nbsp;&nbsp;&nbsp;Vulcabras | 2986060 | 12808926 |
|  |  | 29259360 |
| Consumer Staples — 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;MBRF Global Foods | 3521600 | 11686024 |
| Energy — 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;Petroreconcavo S | 3263900 | 7527671 |
| Financials — 2.3% |  |  |
| &nbsp;&nbsp;&nbsp;BB Seguridade Participacoes | 1267600 | 7732498 |
| &nbsp;&nbsp;&nbsp;Caixa Seguridade Participacoes | 5450900 | 15152776 |
|  |  | 22885274 |
| Materials — 2.1% |  |  |
| &nbsp;&nbsp;&nbsp;CSN Mineracao | 9279600 | 10459722 |
| &nbsp;&nbsp;&nbsp;Vale | 913500 | 11070260 |
|  |  | 21529982 |
| TOTAL BRAZIL |  | 92888311 |
| **CANADA — 3.0%** |  |  |
| Energy — 2.2% |  |  |
| &nbsp;&nbsp;&nbsp;Cardinal Energy <sup>(A)</sup> | 1967293 | 11204366 |
| &nbsp;&nbsp;&nbsp;Parex Resources <sup>(A)</sup> | 916893 | 11739686 |
|  |  | 22944052 |
| Real Estate — 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;Allied Properties Real Estate Investment Trust <sup>‡</sup> | 738890 | 7794165 |
| TOTAL CANADA |  | 30738217 |

---

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

*7*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperDividend<sup>®</sup> ETF** | **Global X SuperDividend<sup>®</sup> ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| **CHINA — 8.0%** |  |  |
| Consumer Discretionary — 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;China Education Group Holdings <sup>(A)</sup> | 26501100 | $10160994 |
| Consumer Staples — 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;Sun Art Retail Group | 41610800 | 10118681 |
| Financials — 2.2% |  |  |
| &nbsp;&nbsp;&nbsp;Chongqing Rural Commercial Bank, Cl H | 14093500 | 11587127 |
| &nbsp;&nbsp;&nbsp;Far East Horizon | 12137000 | 10899907 |
|  |  | 22487034 |
| Industrials — 0.9% |  |  |
| &nbsp;&nbsp;&nbsp;Greentown Management Holdings <sup>(A)</sup> | 23106800 | 8978479 |
| Materials — 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;Shougang Fushan Resources Group | 28894730 | 11338994 |
| Real Estate — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;C&D International Investment Group | 4796332 | 9836794 |
| &nbsp;&nbsp;&nbsp;Sunac Services Holdings <sup>(A)</sup> | 42132300 | 8402391 |
|  |  | 18239185 |
| TOTAL CHINA |  | 81323367 |
| **FRANCE — 0.9%** |  |  |
| Real Estate — 0.9% |  |  |
| &nbsp;&nbsp;&nbsp;ICADE <sup>‡</sup> | 368596 | 8985166 |
| **GREECE — 1.0%** |  |  |
| Consumer Discretionary — 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;OPAP | 501223 | 10384295 |
| **HONG KONG — 5.6%** |  |  |
| Communication Services — 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;PCCW | 15520300 | 11082790 |
| Information Technology — 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;VTech Holdings | 1262700 | 10308319 |

---

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

*8*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperDividend<sup>®</sup> ETF** | **Global X SuperDividend<sup>®</sup> ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Real Estate — 3.5% |  |  |
| &nbsp;&nbsp;&nbsp;Hang Lung Group | 6453044 | $12296336 |
| &nbsp;&nbsp;&nbsp;Hysan Development | 5783600 | 11980644 |
| &nbsp;&nbsp;&nbsp;Kerry Properties | 4513600 | 11359205 |
|  |  | 35636185 |
| TOTAL HONG KONG |  | 57027294 |
| **INDONESIA — 2.3%** |  |  |
| Energy — 2.3% |  |  |
| &nbsp;&nbsp;&nbsp;Alamtri Resources | 64487200 | 7309583 |
| &nbsp;&nbsp;&nbsp;Bukit Asam | 53291700 | 7690925 |
| &nbsp;&nbsp;&nbsp;Indo Tambangraya Megah | 5641000 | 7971347 |
| TOTAL INDONESIA |  | 22971855 |
| **ISRAEL — 3.8%** |  |  |
| Consumer Discretionary — 1.4% |  |  |
| &nbsp;&nbsp;&nbsp;Delta Israel Brands <sup>(A)</sup> | 434452 | 14084778 |
| Energy — 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;Energean PLC <sup>(A)</sup> | 708196 | 8969689 |
| &nbsp;&nbsp;&nbsp;Oil Refineries | 29498800 | 8629727 |
|  |  | 17599416 |
| Industrials — 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;ZIM Integrated Shipping Services <sup>(A)</sup> | 441476 | 6789901 |
| TOTAL ISRAEL |  | 38474095 |
| **ITALY — 1.6%** |  |  |
| Energy — 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;d'Amico International Shipping | 3196041 | 16563047 |
| **LUXEMBOURG — 1.6%** |  |  |
| Communication Services — 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;SES, Cl A <sup>(A)</sup> | 2153097 | 16513538 |

---

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

*9*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperDividend<sup>®</sup> ETF** | **Global X SuperDividend<sup>®</sup> ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| **NEW ZEALAND — 0.9%** |  |  |
| Communication Services — 0.9% |  |  |
| &nbsp;&nbsp;&nbsp;Spark New Zealand <sup>(A)</sup> | 6450960 | $9050635 |
| **NORWAY — 8.4%** |  |  |
| Energy — 6.4% |  |  |
| &nbsp;&nbsp;&nbsp;Aker BP | 574982 | 14941536 |
| &nbsp;&nbsp;&nbsp;DNO | 8607751 | 11817955 |
| &nbsp;&nbsp;&nbsp;FLEX LNG <sup>(A)</sup> | 357771 | 9291313 |
| &nbsp;&nbsp;&nbsp;Frontline PLC <sup>(A)</sup> | 502943 | 12593693 |
| &nbsp;&nbsp;&nbsp;SFL, Cl B <sup>(A)</sup> | 942962 | 7034496 |
| &nbsp;&nbsp;&nbsp;Var Energi | 2855182 | 9617978 |
|  |  | 65296971 |
| Industrials — 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;Stolt-Nielsen | 364330 | 12244026 |
| &nbsp;&nbsp;&nbsp;Wallenius Wilhelmsen, Cl B | 1007497 | 7892115 |
|  |  | 20136141 |
| TOTAL NORWAY |  | 85433112 |
| **RUSSIA — 0.0%** |  |  |
| Materials — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Magnitogorsk Iron & Steel Works PJSC <sup>\*(B)</sup> | 6332020 |  |
| &nbsp;&nbsp;&nbsp;PhosAgro PJSC GDR <sup>\*(B)</sup> | 119 |  |
| &nbsp;&nbsp;&nbsp;Severstal PAO <sup>\*(B)</sup> | 312897 |  |
| Utilities — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Unipro PJSC <sup>\*(B)</sup> | 209143887 |  |
| TOTAL RUSSIA |  |  |
| **SINGAPORE — 2.5%** |  |  |
| Real Estate — 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;ESR-LOGOS REIT <sup>‡</sup> | 4928800 | 10831279 |
| Utilities — 1.4% |  |  |
| &nbsp;&nbsp;&nbsp;Kenon Holdings | 273360 | 14280376 |
| TOTAL SINGAPORE |  | 25111655 |

---

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

*10*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperDividend<sup>®</sup> ETF** | **Global X SuperDividend<sup>®</sup> ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| **SOUTH AFRICA — 5.1%** |  |  |
| Energy — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;Exxaro Resources | 1001553 | $10219221 |
| &nbsp;&nbsp;&nbsp;Thungela Resources <sup>(A)</sup> | 1796040 | 7932316 |
|  |  | 18151537 |
| Materials — 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;Kumba Iron Ore <sup>(A)</sup> | 485734 | 9675446 |
| Real Estate — 2.3% |  |  |
| &nbsp;&nbsp;&nbsp;Growthpoint Properties <sup>‡</sup> | 13216234 | 12436566 |
| &nbsp;&nbsp;&nbsp;Redefine Properties ‡ | 36563693 | 11391544 |
|  |  | 23828110 |
| TOTAL SOUTH AFRICA |  | 51655093 |
| **SPAIN — 0.8%** |  |  |
| Communication Services — 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;Atresmedia de Medios de Comunicacion | 1242694 | 7530175 |
| **TURKEY — 1.7%** |  |  |
| Energy — 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;Turkiye Petrol Rafinerileri <sup>(A)</sup> | 2395127 | 11255706 |
| Industrials — 0.6% |  |  |
| &nbsp;&nbsp;&nbsp;Turk Traktor ve Ziraat Makineleri <sup>(A)</sup> | 487611 | 6343341 |
| TOTAL TURKEY |  | 17599047 |
| **UNITED KINGDOM — 9.8%** |  |  |
| Consumer Discretionary — 1.4% |  |  |
| &nbsp;&nbsp;&nbsp;Taylor Wimpey PLC | 10138479 | 14013139 |
| Energy — 3.9% |  |  |
| &nbsp;&nbsp;&nbsp;Harbour Energy PLC | 3559585 | 10513384 |
| &nbsp;&nbsp;&nbsp;Ithaca Energy PLC | 5309650 | 15173020 |
| &nbsp;&nbsp;&nbsp;Serica Energy PLC | 4822148 | 13748241 |
|  |  | 39434645 |
| Financials — 4.5% |  |  |
| &nbsp;&nbsp;&nbsp;Aberdeen Group PLC | 4503160 | 12010478 |

---

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

*11*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperDividend<sup>®</sup> ETF** | **Global X SuperDividend<sup>®</sup> ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Ashmore Group PLC | 4234892 | $10454806 |
| &nbsp;&nbsp;&nbsp;M&G PLC | 3292305 | 11389320 |
| &nbsp;&nbsp;&nbsp;Phoenix Group Holdings PLC | 1370689 | 12137959 |
|  |  | 45992563 |
| TOTAL UNITED KINGDOM |  | 99440347 |
| **UNITED STATES — 28.1%** |  |  |
| Consumer Discretionary — 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;Guess? | 710207 | 12059315 |
| Consumer Staples — 1.3% |  |  |
| &nbsp;&nbsp;&nbsp;JBS NV \* | 966802 | 12834680 |
| Energy — 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;Nordic American Tankers <sup>(A)</sup> | 3366290 | 12387947 |
| Financials — 19.0% |  |  |
| &nbsp;&nbsp;&nbsp;Adamas Trust <sup>‡</sup> | 1445036 | 9638390 |
| &nbsp;&nbsp;&nbsp;AGNC Investment <sup>‡</sup> | 852060 | 8520600 |
| &nbsp;&nbsp;&nbsp;Annaly Capital Management <sup>‡</sup> | 418601 | 8861783 |
| &nbsp;&nbsp;&nbsp;Apollo Commercial Real Estate Finance <sup>‡</sup> | 879903 | 8614250 |
| &nbsp;&nbsp;&nbsp;Arbor Realty Trust <sup>‡</sup> | 645856 | 6516687 |
| &nbsp;&nbsp;&nbsp;ARMOUR Residential REIT <sup>‡</sup> | 463348 | 7515505 |
| &nbsp;&nbsp;&nbsp;Blackstone Mortgage Trust, Cl A <sup>‡</sup> | 437135 | 8078255 |
| &nbsp;&nbsp;&nbsp;BrightSpire Capital <sup>‡</sup> | 1490719 | 7692110 |
| &nbsp;&nbsp;&nbsp;Chimera Investment <sup>‡</sup> | 632079 | 8065328 |
| &nbsp;&nbsp;&nbsp;Dynex Capital <sup>‡</sup> | 644448 | 8532492 |
| &nbsp;&nbsp;&nbsp;Ellington Financial <sup>‡</sup> | 684139 | 9112731 |
| &nbsp;&nbsp;&nbsp;Franklin BSP Realty Trust <sup>‡</sup> | 672243 | 6816544 |
| &nbsp;&nbsp;&nbsp;Invesco Mortgage Capital <sup>‡</sup> | 1007593 | 7587175 |
| &nbsp;&nbsp;&nbsp;KKR Real Estate Finance Trust <sup>‡</sup> | 785075 | 6390511 |
| &nbsp;&nbsp;&nbsp;MFA Financial <sup>‡</sup> | 834462 | 7501813 |
| &nbsp;&nbsp;&nbsp;Orchid Island Capital, Cl A <sup>‡</sup> | 1013343 | 7326470 |
| &nbsp;&nbsp;&nbsp;PennyMac Mortgage Investment Trust <sup>‡</sup> | 649755 | 7823050 |
| &nbsp;&nbsp;&nbsp;Ready Capital <sup>‡</sup> | 1322454 | 3874790 |
| &nbsp;&nbsp;&nbsp;Redwood Trust <sup>‡</sup> | 1392947 | 7396549 |
| &nbsp;&nbsp;&nbsp;Rithm Capital <sup>‡</sup> | 738736 | 8103934 |
| &nbsp;&nbsp;&nbsp;Starwood Property Trust <sup>‡</sup> | 449069 | 8164074 |
| &nbsp;&nbsp;&nbsp;TPG RE Finance Trust <sup>‡</sup> | 1023849 | 8856294 |

---

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

*12*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperDividend<sup>®</sup> ETF** | **Global X SuperDividend<sup>®</sup> ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Two Harbors Investment <sup>‡</sup> | 660333 | $6418437 |
| &nbsp;&nbsp;&nbsp;Western Union | 1646377 | 15360697 |
|  |  | 192768469 |
| Materials — 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;Ardagh Metal Packaging | 3379083 | 12063326 |
| Real Estate — 4.2% |  |  |
| &nbsp;&nbsp;&nbsp;Brandywine Realty Trust <sup>‡</sup> | 1825261 | 6260645 |
| &nbsp;&nbsp;&nbsp;Global Medical REIT <sup>‡</sup> | 215186 | 6606210 |
| &nbsp;&nbsp;&nbsp;Global Net Lease <sup>‡</sup> | 1249927 | 9524444 |
| &nbsp;&nbsp;&nbsp;Innovative Industrial Properties <sup>‡</sup> | 147255 | 7384838 |
| &nbsp;&nbsp;&nbsp;Park Hotels & Resorts <sup>‡</sup> | 1261563 | 12981484 |
|  |  | 42757621 |
| TOTAL UNITED STATES |  | 284871358 |
| TOTAL COMMON STOCK<br> (Cost $944,908,123) |  | 967871326 |
| **PREFERRED STOCK — 4.1%** |  |  |
| **BRAZIL — 4.1%** |  |  |
| Energy — 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;Petroleo Brasileiro <sup>(C)</sup> | 1358200 | 7503310 |
| Financials — 1.5% |  |  |
| &nbsp;&nbsp;&nbsp;Banco Bradesco <sup>(C)</sup> | 4631400 | 15618177 |
| Materials — 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;Bradespar <sup>(C)</sup> | 2818100 | 9702158 |
| Utilities — 0.9% |  |  |
| &nbsp;&nbsp;&nbsp;Cia Energetica de Minas Gerais <sup>(C)</sup> | 4468600 | 9409937 |
| TOTAL BRAZIL |  | 42233582 |
| TOTAL PREFERRED STOCK<br> (Cost $41,084,451) |  | 42233582 |

---

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

*13*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperDividend<sup>®</sup> ETF** | **Global X SuperDividend<sup>®</sup> ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| **REPURCHASE AGREEMENTS<sup>(D)</sup> — 4.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Citadel Securities LLC <br> 4.260%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $11,568,803 (collateralized by various U.S. Treasury Obligations, ranging in par value $661 - $1,074,049, 0.000% - 4.875%, 11/04/2025 - 08/15/2055, with a total market value of $11,784,180) | $11564698 | $11564698 |
| &nbsp;&nbsp;&nbsp;Daiwa Capital Markets America, Inc. <br> 4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $10,874,575 (collateralized by various U.S. Government Obligations and U.S. Treasury Obligations, ranging in par value $1,069 - $3,398,550, 1.500% - 7.500%, 06/30/2027 - 10/20/2055, with a total market value of $11,040,656) | 10870816 | 10870816 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank Securities, Inc. <br> 3.950%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $2,260,356 (collateralized by various U.S. Treasury Obligations, ranging in par value $48,706 - $260,582, 1.125% - 6.750%, 02/15/2026 - 08/15/2055, with a total market value of $2,277,082) | 2259612 | 2259612 |
| &nbsp;&nbsp;&nbsp;HSBC Securities USA, Inc. <br> 4.140%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $694,121 (collateralized by various U.S. Treasury Obligations, ranging in par value $136,591 - $262,701, 0.125% - 3.625%, 07/15/2030 - 02/15/2051, with a total market value of $702,409) | 693882 | 693882 |
| &nbsp;&nbsp;&nbsp;HSBC Securities USA, Inc. <br> 4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $10,874,575 (collateralized by various U.S. Government Obligations, ranging in par value $15,492 - $7,676,495, 1.550% - 7.000%, 01/01/2032 - 06/01/2055, with a total market value of $11,048,296) | 10870816 | 10870816 |

---

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

*14*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperDividend<sup>®</sup> ETF** | **Global X SuperDividend<sup>®</sup> ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| **REPURCHASE AGREEMENTS<sup>(D)</sup> — continued** |  |  |
| &nbsp;&nbsp;&nbsp;JP Morgan Securities LLC <br> 4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $2,192,748 (collateralized by various U.S. Government Obligations, ranging in par value $14,248 - $786,726, 3.000% - 7.000%, 04/01/2038 - 10/01/2055, with a total market value of $2,224,886) | $2191990 | $2191990 |
| &nbsp;&nbsp;&nbsp;Nomura Securities International, Inc. <br> 4.140%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $10,763,382 (collateralized by various U.S. Government Obligations, ranging in par value $9,813 - $1,294,873, 1.500% - 7.000%, 04/01/2031 - 11/01/2055, with a total market value of $10,930,779) | 10759670 | 10759670 |
| TOTAL REPURCHASE AGREEMENTS<br> (Cost $49,211,484) |  | 49211484 |
| TOTAL INVESTMENTS — 104.4%<br> (Cost $1,035,204,058) |  | $1059316392 |

---

*Percentages are based on Net Assets of $1,014,282,604.*

*A list of the open futures contracts held by the Fund at October 31, 2025, is as follows:*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ***Type of Contract*** | ***Number of<br> Contracts*** | ***Expiration<br> Date*** | ***Notional Amount*** | ***Value*** | ***Unrealized<br> Appreciation/<br> (Depreciation)*** |
| *Long Contracts* |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*MSCI Emerging Markets Index* | *19* | *Dec-2025* | $*1622671* | $*1728620* | $*105949* |
| &nbsp;&nbsp;&nbsp;*S&P Mid Cap 400 Index* |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*E-MINI* | *6* | *Dec-2025* | *1967422* | *1954620* | *(12802)* |
|  |  |  | $*3590093* | $*3683240* | $*93147* |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *‡* | *Real Estate Investment Trust* |
| *(A)* | *This security or a partial position of this security is on loan at October 31, 2025. The total market value of securities on loan at October 31, 2025 was $62,741,795.* |
| *(B)* | *Level 3 security in accordance with fair value hierarchy.* |
| *(C)* | *There is currently no stated interest rate.* |

---

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

*15*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperDividend<sup>®</sup> ETF** | **Global X SuperDividend<sup>®</sup> ETF** |

---

&nbsp;&nbsp;&nbsp;&nbsp;*(D)* *These securities were purchased with cash collateral held from securities on loan. The total value of such securities as of October 31, 2025 was $49,211,484. The total value of non-cash collateral held from securities on loan as of October 31, 2025 was $18,503,417.* 

*The following is a summary of the level of inputs used as of October 31, 2025, in valuing the Fund's investments and other financial instruments carried at value:*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *Investments in Securities* | *Level 1* | *Level 2* | *Level 3<sup>(1)</sup>* |  | *Total* |
| &nbsp;&nbsp;&nbsp;*Common Stock* | $*930876445* | $*36994881* | $*—* | *<sup>^</sup>* | $*967871326* |
| &nbsp;&nbsp;&nbsp;*Preferred Stock* | *42233582* | *—* | *—* |  | *42233582* |
| &nbsp;&nbsp;&nbsp;*Repurchase Agreements* | *—* | *49211484* | *—* |  | *49211484* |
| *Total Investments in Securities* | $*973110027* | $*86206365* | $*—* |  | $*1059316392* |
| *Other Financial Instruments* | *Level 1* | *Level 2* | *Level 3* |  | *Total* |
| &nbsp;&nbsp;&nbsp;*Futures Contracts\** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Unrealized Appreciation* | $*105949* | $*—* | $*—* |  | $*105949* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Unrealized Depreciation* | *(12802)* | *—* | *—* |  | *(12802)* |
| *Total Other Financial Instruments* | $*93147* | $*—* | $*—* |  | $*93147* |

---

---

| | |
|:---|:---|
| *\** | *Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.* |
| *^* | *Includes Securities in which the fair value is $0 or has been rounded to $0.* |
| *(1)* | *A reconciliation of Level 3 investments and disclosures of significant unobservable inputs are presented when the Fund has a significant amount of Level 3 investments at the end of the period in relation to Net Assets. Management has concluded that Level 3 investments are not material in relation to Net Assets.* |

---

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

*See "Glossary" for abbreviations.*

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

*16*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Social Media ETF** | **Global X Social Media ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 99.9%** |  |  |
| **CHINA — 37.8%** |  |  |
| Communication Services — 37.1% |  |  |
| &nbsp;&nbsp;&nbsp;Baidu ADR <sup>\*(A)</sup> | 58253 | $7041040 |
| &nbsp;&nbsp;&nbsp;Bilibili ADR <sup>\*(A)</sup> | 144565 | 4373091 |
| &nbsp;&nbsp;&nbsp;DouYu International Holdings ADR | 6565 | 45101 |
| &nbsp;&nbsp;&nbsp;Hello Group ADR | 59930 | 406925 |
| &nbsp;&nbsp;&nbsp;HUYA ADR <sup>(A)</sup> | 37221 | 102358 |
| &nbsp;&nbsp;&nbsp;Inkeverse Group \* | 447200 | 60415 |
| &nbsp;&nbsp;&nbsp;JOYY ADR | 13112 | 777673 |
| &nbsp;&nbsp;&nbsp;Kuaishou Technology, Cl B | 1312588 | 12218644 |
| &nbsp;&nbsp;&nbsp;Meitu | 1758200 | 1949986 |
| &nbsp;&nbsp;&nbsp;NetEase ADR | 47170 | 6608517 |
| &nbsp;&nbsp;&nbsp;Tencent Holdings | 188127 | 15225018 |
| &nbsp;&nbsp;&nbsp;Tencent Music Entertainment Group ADR | 283326 | 6323836 |
| &nbsp;&nbsp;&nbsp;Weibo ADR <sup>(A)</sup> | 42487 | 462259 |
|  |  | 55594863 |
| Consumer Staples — 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;East Buy Holding <sup>\*(A)</sup> | 207300 | 583583 |
| Information Technology — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;Newborn Town \* | 280300 | 381562 |
| TOTAL CHINA |  | 56560008 |
| **GERMANY — 0.8%** |  |  |
| Communication Services — 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;United Internet | 39428 | 1216880 |
| **JAPAN — 4.8%** |  |  |
| Communication Services — 4.8% |  |  |
| &nbsp;&nbsp;&nbsp;Anycolor | 14200 | 556736 |
| &nbsp;&nbsp;&nbsp;DeNA <sup>(A)</sup> | 36200 | 636563 |
| &nbsp;&nbsp;&nbsp;giftee | 9228 | 65292 |
| &nbsp;&nbsp;&nbsp;Gree | 28285 | 73992 |
| &nbsp;&nbsp;&nbsp;Kakaku.com | 60606 | 1081470 |
| &nbsp;&nbsp;&nbsp;MIXI | 17049 | 344732 |
| &nbsp;&nbsp;&nbsp;Nexon | 212700 | 4349129 |
| TOTAL JAPAN |  | 7107914 |

---

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

*17*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Social Media ETF** | **Global X Social Media ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| **SINGAPORE — 0.2%** |  |  |
| Communication Services — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Grindr <sup>\*(A)</sup> | 18976 | $263007 |
| **SOUTH KOREA — 13.3%** |  |  |
| Communication Services — 13.3% |  |  |
| &nbsp;&nbsp;&nbsp;Com2uSCorp | 4461 | 106770 |
| &nbsp;&nbsp;&nbsp;Kakao | 153155 | 6997993 |
| &nbsp;&nbsp;&nbsp;NAVER | 67421 | 12658444 |
| &nbsp;&nbsp;&nbsp;SOOP | 3758 | 191757 |
| TOTAL SOUTH KOREA |  | 19954964 |
| **UNITED ARAB EMIRATES — 0.2%** |  |  |
| Communication Services — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Yalla Group ADR \* | 44351 | 336624 |
| **UNITED KINGDOM — 0.3%** |  |  |
| Communication Services — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;Trustpilot Group PLC \* | 183622 | 495532 |
| **UNITED STATES — 42.5%** |  |  |
| Communication Services — 39.3% |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl A | 27607 | 7762812 |
| &nbsp;&nbsp;&nbsp;Angi, Cl A \* | 17577 | 233247 |
| &nbsp;&nbsp;&nbsp;Bumble, Cl A \* | 27110 | 150460 |
| &nbsp;&nbsp;&nbsp;IAC \* | 36831 | 1186695 |
| &nbsp;&nbsp;&nbsp;Match Group | 124620 | 4030211 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 20532 | 13311922 |
| &nbsp;&nbsp;&nbsp;Nextdoor Holdings \* | 93391 | 182112 |
| &nbsp;&nbsp;&nbsp;Pinterest, Cl A \* | 190753 | 6313924 |
| &nbsp;&nbsp;&nbsp;Reddit, Cl A \* | 54287 | 11343269 |
| &nbsp;&nbsp;&nbsp;Rumble <sup>\*(A)</sup> | 116460 | 798916 |
| &nbsp;&nbsp;&nbsp;Snap, Cl A \* | 548632 | 4279330 |
| &nbsp;&nbsp;&nbsp;Spotify Technology \* | 10409 | 6821226 |
| &nbsp;&nbsp;&nbsp;Trump Media & Technology Group <sup>\*(A)</sup> | 51028 | 782004 |
| &nbsp;&nbsp;&nbsp;Vimeo \* | 71742 | 559588 |

---

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

*18*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Social Media ETF** | **Global X Social Media ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Communication Services — continued |  |  |
| &nbsp;&nbsp;&nbsp;Yelp, Cl A \* | 31903 | $1052161 |
|  |  | 58807877 |
| Consumer Discretionary — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Groupon, Cl A <sup>\*(A)</sup> | 10595 | 213277 |
| Industrials — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Fiverr International \* | 15428 | 349290 |
| Information Technology — 2.8% |  |  |
| &nbsp;&nbsp;&nbsp;Life360, CDI \* | 109129 | 3554928 |
| &nbsp;&nbsp;&nbsp;Sprinklr, Cl A \* | 53202 | 410719 |
| &nbsp;&nbsp;&nbsp;Sprout Social, Cl A \* | 24595 | 252591 |
|  |  | 4218238 |
| TOTAL UNITED STATES |  | 63588682 |
| TOTAL COMMON STOCK<br> (Cost $157,073,273) |  | 149523611 |
|  | **Face Amount** |  |
| **REPURCHASE AGREEMENTS<sup>(B)</sup> — 3.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Citadel Securities LLC <br> 4.260%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $1,116,351 (collateralized by various U.S. Treasury Obligations, ranging in par value $64 - $103,642, 0.000% - 4.875%, 11/04/2025 - 08/15/2055, with a total market value of $1,137,134) | $1115955 | 1115955 |
| &nbsp;&nbsp;&nbsp;Daiwa Capital Markets America, Inc. <br> 4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $1,049,361 (collateralized by various U.S. Government Obligations and U.S. Treasury Obligations, ranging in par value $103 - $327,949, 1.500% - 7.500%, 06/30/2027 - 10/20/2055, with a total market value of $1,065,387) | 1048998 | 1048998 |

---

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

*19*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Social Media ETF** | **Global X Social Media ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| **REPURCHASE AGREEMENTS<sup>(B)</sup> — continued** |  |  |
| &nbsp;&nbsp;&nbsp;Deutsche Bank Securities, Inc.<br> 3.950%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $218,862 (collateralized by various U.S. Treasury Obligations, ranging in par value $4,716 - $25,231, 1.125% - 6.750%, 02/15/2026 - 08/15/2055, with a total market value of $220,482) | $218790 | $218790 |
| &nbsp;&nbsp;&nbsp;HSBC Securities USA, Inc. <br> 4.140%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $66,980 (collateralized by various U.S. Treasury Obligations, ranging in par value $13,181 - $25,350, 0.125% - 3.625%, 07/15/2030 - 02/15/2051, with a total market value of $67,780) | 66957 | 66957 |
| &nbsp;&nbsp;&nbsp;HSBC Securities USA, Inc. <br> 4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $1,049,361 (collateralized by various U.S. Government Obligations, ranging in par value $1,495 - $740,757, 1.550% - 7.000%, 01/01/2032 - 06/01/2055, with a total market value of $1,066,124) | 1048998 | 1048998 |
| &nbsp;&nbsp;&nbsp;Nomura Securities International, Inc. <br> 4.140%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $1,049,360 (collateralized by various U.S. Government Obligations, ranging in par value $957 - $126,242, 1.500% - 7.000%, 04/01/2031 - 11/01/2055, with a total market value of $1,065,680) | 1048998 | 1048998 |

---

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

*20*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Social Media ETF** | **Global X Social Media ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| **REPURCHASE AGREEMENTS<sup>(B)</sup> — continued** |  |  |
| &nbsp;&nbsp;&nbsp;RBC Dominion Securities, Inc. <br> 4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $200,120 (collateralized by various U.S. Government Obligations and U.S. Treasury Obligations, ranging in par value $63 - $368,034, 0.000% - 6.500%, 11/06/2025 - 08/15/2055, with a total market value of $203,082) | $200051 | $200051 |
| TOTAL REPURCHASE AGREEMENTS<br> (Cost $4,748,747) |  | 4748747 |
| TOTAL INVESTMENTS — 103.1%<br> (Cost $161,822,020) |  | $154272358 |

---

*Percentages are based on Net Assets of $149,692,832.*

*\** *Non-income producing security.*

*(A)* *This security or a partial position of this security is on loan at October 31, 2025. The total market value of securities on loan at October 31, 2025 was $5,191,361.*

*(B)* *These securities were purchased with cash collateral held from securities on loan. The total value of such securities as of October 31, 2025 was $4,748,747. The total value of non-cash collateral held from securities on loan as of October 31, 2025 was $1,043,211.*

*The following is a summary of the level of inputs used as of October 31, 2025, in valuing the Fund's investments carried at value:*

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Investments in Securities* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Common Stock* | $*149523611* | $*—* | $*—* | $*149523611* |
| &nbsp;&nbsp;&nbsp;*Repurchase Agreements* | *—* | *4748747* | *—* | *4748747* |
| *Total Investments in Securities* | $*149523611* | $*4748747* | $*—* | $*154272358* |

---

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

*See "Glossary" for abbreviations.*

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

*21*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Guru<sup>®</sup> Index ETF** | **Global X Guru<sup>®</sup> Index ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 100.0%** |  |  |
| **CANADA — 3.3%** |  |  |
| Information Technology — 2.1% |  |  |
| &nbsp;&nbsp;&nbsp;Celestica \* | 3367 | $1159864 |
| Materials — 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;Triple Flag Precious Metals | 25213 | 699913 |
| TOTAL CANADA |  | 1859777 |
| **CHINA — 1.6%** |  |  |
| Consumer Discretionary — 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;Alibaba Group Holding ADR | 5429 | 925264 |
| **IRELAND — 1.3%** |  |  |
| Industrials — 1.3% |  |  |
| &nbsp;&nbsp;&nbsp;AerCap Holdings | 5821 | 758127 |
| **NETHERLANDS — 1.8%** |  |  |
| Health Care — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;Newamsterdam Pharma \* | 26260 | 996567 |
| **SWITZERLAND — 1.0%** |  |  |
| Consumer Discretionary — 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;Sportradar Group, Cl A \* | 21232 | 543752 |
| **UNITED STATES — 91.0%** |  |  |
| Communication Services — 5.9% |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl A | 3228 | 907682 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 838 | 543317 |
| &nbsp;&nbsp;&nbsp;TKO Group Holdings, Cl A | 3485 | 656574 |
| &nbsp;&nbsp;&nbsp;Warner Bros Discovery \* | 55562 | 1247367 |
|  |  | 3354940 |
| Consumer Discretionary — 8.6% |  |  |
| &nbsp;&nbsp;&nbsp;Amazon.com \* | 2849 | 695783 |
| &nbsp;&nbsp;&nbsp;Asbury Automotive Group \* | 2736 | 641866 |
| &nbsp;&nbsp;&nbsp;Expedia Group | 3173 | 698060 |
| &nbsp;&nbsp;&nbsp;Home Depot | 1648 | 625564 |
| &nbsp;&nbsp;&nbsp;Lithia Motors, Cl A | 2187 | 686893 |

---

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

*22*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Guru<sup>®</sup> Index ETF** | **Global X Guru<sup>®</sup> Index ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;Tesla \* | 1991 | $909011 |
| &nbsp;&nbsp;&nbsp;United Parks & Resorts \* | 12720 | 615648 |
|  |  | 4872825 |
| Consumer Staples — 5.5% |  |  |
| &nbsp;&nbsp;&nbsp;Albertsons, Cl A | 34300 | 606767 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale | 677 | 617052 |
| &nbsp;&nbsp;&nbsp;Darling Ingredients \* | 21112 | 676640 |
| &nbsp;&nbsp;&nbsp;Maplebear \* | 14986 | 552384 |
| &nbsp;&nbsp;&nbsp;Post Holdings \* | 6065 | 630335 |
|  |  | 3083178 |
| Energy — 3.6% |  |  |
| &nbsp;&nbsp;&nbsp;EQT | 12455 | 667339 |
| &nbsp;&nbsp;&nbsp;Expand Energy | 6920 | 714905 |
| &nbsp;&nbsp;&nbsp;Targa Resources | 4033 | 621243 |
|  |  | 2003487 |
| Financials — 9.4% |  |  |
| &nbsp;&nbsp;&nbsp;Bank of America | 14024 | 749583 |
| &nbsp;&nbsp;&nbsp;BlackRock Funding | 580 | 628030 |
| &nbsp;&nbsp;&nbsp;Comerica | 9696 | 741744 |
| &nbsp;&nbsp;&nbsp;Janus Henderson Group PLC | 15210 | 662548 |
| &nbsp;&nbsp;&nbsp;LPL Financial Holdings | 1875 | 707456 |
| &nbsp;&nbsp;&nbsp;Mastercard, Cl A | 1131 | 624301 |
| &nbsp;&nbsp;&nbsp;S&P Global | 1182 | 575882 |
| &nbsp;&nbsp;&nbsp;Willis Towers Watson PLC | 1991 | 623382 |
|  |  | 5312926 |
| Health Care — 19.4% |  |  |
| &nbsp;&nbsp;&nbsp;Arcutis Biotherapeutics \* | 38977 | 986508 |
| &nbsp;&nbsp;&nbsp;Boston Scientific \* | 6380 | 642594 |
| &nbsp;&nbsp;&nbsp;Corcept Therapeutics \* | 9176 | 674161 |
| &nbsp;&nbsp;&nbsp;Denali Therapeutics \* | 44781 | 729035 |
| &nbsp;&nbsp;&nbsp;Eli Lilly | 938 | 809363 |
| &nbsp;&nbsp;&nbsp;Globus Medical, Cl A \* | 10868 | 656318 |
| &nbsp;&nbsp;&nbsp;Incyte \* | 7573 | 707924 |
| &nbsp;&nbsp;&nbsp;Madrigal Pharmaceuticals \* | 1780 | 745642 |
| &nbsp;&nbsp;&nbsp;MoonLake Immunotherapeutics, Cl A \* | 12068 | 121887 |

---

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

*23*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Guru<sup>®</sup> Index ETF** | **Global X Guru<sup>®</sup> Index ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Neurocrine Biosciences \* | 4953 | $709319 |
| &nbsp;&nbsp;&nbsp;Nuvalent, Cl A \* | 8657 | 859813 |
| &nbsp;&nbsp;&nbsp;PTC Therapeutics \* | 13485 | 921160 |
| &nbsp;&nbsp;&nbsp;Tenet Healthcare \* | 3827 | 790237 |
| &nbsp;&nbsp;&nbsp;United Therapeutics \* | 2102 | 936294 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings | 6406 | 644187 |
|  |  | 10934442 |
| Industrials — 12.9% |  |  |
| &nbsp;&nbsp;&nbsp;Avis Budget Group \* | 4229 | 575440 |
| &nbsp;&nbsp;&nbsp;Delta Air Lines | 10927 | 626991 |
| &nbsp;&nbsp;&nbsp;HEICO, Cl A | 2734 | 677294 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace | 3844 | 791672 |
| &nbsp;&nbsp;&nbsp;Modine Manufacturing \* | 4745 | 726981 |
| &nbsp;&nbsp;&nbsp;Paycom Software | 3030 | 566883 |
| &nbsp;&nbsp;&nbsp;Quanta Services | 1728 | 776097 |
| &nbsp;&nbsp;&nbsp;Simpson Manufacturing | 3519 | 621103 |
| &nbsp;&nbsp;&nbsp;TransUnion | 7404 | 601057 |
| &nbsp;&nbsp;&nbsp;Uber Technologies \* | 7109 | 686018 |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings \* | 6522 | 613329 |
|  |  | 7262865 |
| Information Technology — 16.1% |  |  |
| &nbsp;&nbsp;&nbsp;Apple | 2842 | 768392 |
| &nbsp;&nbsp;&nbsp;AppLovin, Cl A \* | 1500 | 955995 |
| &nbsp;&nbsp;&nbsp;Broadcom | 2148 | 793965 |
| &nbsp;&nbsp;&nbsp;CyberArk Software \* | 1553 | 808771 |
| &nbsp;&nbsp;&nbsp;GLOBALFOUNDRIES \* | 19906 | 708654 |
| &nbsp;&nbsp;&nbsp;Guidewire Software \* | 3113 | 727321 |
| &nbsp;&nbsp;&nbsp;Microsoft | 1265 | 655030 |
| &nbsp;&nbsp;&nbsp;NVIDIA | 3648 | 738683 |
| &nbsp;&nbsp;&nbsp;Qorvo \* | 7367 | 699276 |
| &nbsp;&nbsp;&nbsp;Salesforce | 2715 | 707013 |
| &nbsp;&nbsp;&nbsp;Snowflake, Cl A \* | 3306 | 908753 |
| &nbsp;&nbsp;&nbsp;Trimble \* | 8004 | 638319 |
|  |  | 9110172 |
| Materials — 2.1% |  |  |
| &nbsp;&nbsp;&nbsp;Linde PLC | 1371 | 573489 |

---

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

*24*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Guru<sup>®</sup> Index ETF** | **Global X Guru<sup>®</sup> Index ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Materials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams | 1806 | $622962 |
|  |  | 1196451 |
| Real Estate — 1.4% |  |  |
| &nbsp;&nbsp;&nbsp;ProLogis <sup>‡</sup> | 6176 | 766380 |
| Utilities — 6.1% |  |  |
| &nbsp;&nbsp;&nbsp;Eversource Energy | 10046 | 741495 |
| &nbsp;&nbsp;&nbsp;PG&E | 43828 | 699495 |
| &nbsp;&nbsp;&nbsp;Southwest Gas Holdings | 8494 | 675273 |
| &nbsp;&nbsp;&nbsp;Talen Energy \* | 1742 | 696417 |
| &nbsp;&nbsp;&nbsp;Vistra | 3335 | 627980 |
|  |  | 3440660 |
| TOTAL UNITED STATES |  | 51338326 |
| TOTAL COMMON STOCK<br> (Cost $48,302,166) |  | 56421813 |
| TOTAL INVESTMENTS — 100.0%<br> (Cost $48,302,166) |  | $56421813 |

---

*Percentages are based on Net Assets of $56,441,808.*

*\** *Non-income producing security.* <br> *‡* *Real Estate Investment Trust*

*As of October 31, 2025, 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.*

*See "Glossary" for abbreviations.*

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

*25*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperIncome<sup>™</sup> Preferred ETF** | **Global X SuperIncome<sup>™</sup> Preferred ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **PREFERRED STOCK — 99.4%** |  |  |
| **UNITED STATES — 99.4%** |  |  |
| Communication Services — 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;Telephone and Data Systems, 6.000% | 112897 | $2067144 |
| Consumer Discretionary — 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;Ford Motor, 6.500% | 96946 | 2294712 |
| Financials — 65.4% |  |  |
| &nbsp;&nbsp;&nbsp;AGNC Investment, 8.750% <sup>‡</sup> | 48478 | 1231341 |
| &nbsp;&nbsp;&nbsp;Allstate, 7.375% | 98130 | 2603389 |
| &nbsp;&nbsp;&nbsp;Annaly Capital Management, 8.875% <sup>‡</sup> | 44396 | 1151188 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management, 7.625%, H15T5Y + 3.226% <sup>(A)</sup> | 53430 | 1399866 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management, 6.750% \* | 64782 | 4232856 |
| &nbsp;&nbsp;&nbsp;Ares Management, 6.750% \* | 113745 | 5379001 |
| &nbsp;&nbsp;&nbsp;Athene Holding, 7.750%, H15T5Y + 3.962% <sup>(A)</sup> | 81805 | 2099934 |
| &nbsp;&nbsp;&nbsp;Athene Holding, 6.350%, US0003M + 4.253% <sup>(A)</sup> | 141007 | 3518125 |
| &nbsp;&nbsp;&nbsp;Banc of California, 7.750%, H15T5Y + 4.820% <sup>(A)</sup> | 83974 | 2091792 |
| &nbsp;&nbsp;&nbsp;Bank of America, 7.250% \* | 3572 | 4504292 |
| &nbsp;&nbsp;&nbsp;Bank of America, 4.750% | 32198 | 650722 |
| &nbsp;&nbsp;&nbsp;Bank of America, 4.250% | 60891 | 1088731 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon, 6.150%, H15T5Y + 2.161% <sup>(A)</sup> | 81805 | 2107297 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group, 6.500%, H15T5Y + 2.629% <sup>(A)</sup> | 64607 | 1639080 |
| &nbsp;&nbsp;&nbsp;Comerica, 6.875%, H15T5Y + 3.125% <sup>(A)</sup> | 64608 | 1657841 |
| &nbsp;&nbsp;&nbsp;Corebridge Financial, 6.375% | 98141 | 2433897 |
| &nbsp;&nbsp;&nbsp;F&G Annuities & Life, 7.300% | 60562 | 1460150 |
| &nbsp;&nbsp;&nbsp;Flagstar Bank, 6.375%, US0003M + 3.821% <sup>(A)</sup> | 83196 | 1807849 |
| &nbsp;&nbsp;&nbsp;Jackson Financial, 8.000%, H15T5Y + 3.728% <sup>(A)</sup> | 89969 | 2366185 |
| &nbsp;&nbsp;&nbsp;KeyCorp, 6.200%, H15T5Y + 3.132% <sup>(A)</sup> | 98139 | 2459363 |
| &nbsp;&nbsp;&nbsp;KeyCorp, 6.125%, TSFR3M + 4.154% <sup>(A)</sup> | 81810 | 2034615 |
| &nbsp;&nbsp;&nbsp;KKR, 6.250% | 109469 | 5366170 |
| &nbsp;&nbsp;&nbsp;Lincoln National, 9.000% | 81798 | 2215908 |
| &nbsp;&nbsp;&nbsp;M&T Bank, 7.500% | 122625 | 3261825 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley, 6.500% | 80836 | 2070210 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley, 5.850% | 80843 | 1971761 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley, 4.250% | 105103 | 1914977 |
| &nbsp;&nbsp;&nbsp;Regions Financial, 6.950%, H15T5Y + 2.771% <sup>(A)</sup> | 81806 | 2096688 |

---

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

*26*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperIncome<sup>™</sup> Preferred ETF** | **Global X SuperIncome<sup>™</sup> Preferred ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **PREFERRED STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Regions Financial, 5.700%, TSFR3M + 3.410% <sup>(A)</sup> | 81811 | $2018277 |
| &nbsp;&nbsp;&nbsp;Rithm Capital, 7.000%, H15T5Y + 6.223% <sup>‡ (A)</sup> | 75117 | 1848629 |
| &nbsp;&nbsp;&nbsp;Shift4 Payments, 6.000% \* | 40872 | 3492921 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial, 8.250%, H15T5Y + 4.044% <sup>(A)</sup> | 81801 | 2160365 |
| &nbsp;&nbsp;&nbsp;Synovus Financial, 8.397%, H15T5Y + 4.127% <sup>(A)</sup> | 56526 | 1485503 |
| &nbsp;&nbsp;&nbsp;UMB Financial, 7.750%, H15T5Y + 3.743% <sup>(A)</sup> | 48481 | 1308987 |
| &nbsp;&nbsp;&nbsp;Wells Fargo, 7.500% \* | 5061 | 6261722 |
| &nbsp;&nbsp;&nbsp;Wintrust Financial, 7.875%, H15T5Y + 3.878% <sup>(A)</sup> | 68656 | 1802220 |
|  |  | 87193677 |
| Health Care — 2.3% |  |  |
| &nbsp;&nbsp;&nbsp;Bruker, 6.375% | 9657 | 3054026 |
| Industrials — 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;Chart Industries, 6.750% \* | 32519 | 2306247 |
| Information Technology — 13.6% |  |  |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise, 7.625% \* | 91608 | 6190869 |
| &nbsp;&nbsp;&nbsp;Microchip Technology, 7.500% | 98669 | 5712935 |
| &nbsp;&nbsp;&nbsp;Strategy, 10.000% | 23425 | 1811689 |
| &nbsp;&nbsp;&nbsp;Strategy, 10.000% | 20605 | 2242442 |
| &nbsp;&nbsp;&nbsp;Strategy, 8.000% | 25050 | 2154300 |
|  |  | 18112235 |
| Materials — 4.8% |  |  |
| &nbsp;&nbsp;&nbsp;Albemarle, 7.250% \* | 144931 | 6410298 |
| Utilities — 8.3% |  |  |
| &nbsp;&nbsp;&nbsp;PG&E, 6.000% | 131554 | 5406870 |
| &nbsp;&nbsp;&nbsp;SCE Trust VII, 7.500% | 89986 | 2102973 |
| &nbsp;&nbsp;&nbsp;SCE Trust VIII, 6.950% | 56512 | 1243264 |
| &nbsp;&nbsp;&nbsp;Southern, 6.500% | 92419 | 2385334 |
|  |  | 11138441 |
| TOTAL UNITED STATES |  | 132576780 |
| TOTAL PREFERRED STOCK<br> (Cost $129,413,134) |  | 132576780 |
| TOTAL INVESTMENTS — 99.4%<br> (Cost $129,413,134) |  | $132576780 |

---

*Percentages are based on Net Assets of $133,426,556.*

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

*27*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperIncome<sup>™</sup> Preferred ETF** | **Global X SuperIncome<sup>™</sup> Preferred ETF** |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *‡* | *Real Estate Investment Trust* |
| *(A)* | *Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; or by adjusting periodically based on prevailing interest rates.* |

---

*As of October 31, 2025, 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.*

*See "Glossary" for abbreviations.*

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

*28*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperDividend<sup>®</sup> U.S. ETF** | **Global X SuperDividend<sup>®</sup> U.S. ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 86.6%** | | |
| **GREECE — 1.9%** | | |
| Energy — 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;Tsakos Energy Navigation | 477675 | $11645717 |
| **NORWAY — 4.1%** |  |  |
| Energy — 4.1% |  |  |
| &nbsp;&nbsp;&nbsp;FLEX LNG <sup>(A)</sup> | 576154 | 14962719 |
| &nbsp;&nbsp;&nbsp;SFL, Cl B <sup>(A)</sup> | 1411169 | 10527321 |
| TOTAL NORWAY |  | 25490040 |
| **PANAMA — 2.3%** |  |  |
| Industrials — 2.3% |  |  |
| &nbsp;&nbsp;&nbsp;Copa Holdings, Cl A | 115564 | 14469769 |
| **UNITED KINGDOM — 3.0%** |  |  |
| Industrials — 3.0% |  |  |
| &nbsp;&nbsp;&nbsp;Global Ship Lease, Cl A | 602459 | 18995532 |
| **UNITED STATES — 75.3%** |  |  |
| Communication Services — 5.3% |  |  |
| &nbsp;&nbsp;&nbsp;AT&T | 525951 | 13017287 |
| &nbsp;&nbsp;&nbsp;Cogent Communications Holdings | 165347 | 6820564 |
| &nbsp;&nbsp;&nbsp;Verizon Communications | 332821 | 13226307 |
|  |  | 33064158 |
| Consumer Staples — 9.9% |  |  |
| &nbsp;&nbsp;&nbsp;Altria Group | 260028 | 14660378 |
| &nbsp;&nbsp;&nbsp;B&G Foods <sup>(A)</sup> | 2310861 | 9243444 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz | 467490 | 11561028 |
| &nbsp;&nbsp;&nbsp;Philip Morris International | 92148 | 13299721 |
| &nbsp;&nbsp;&nbsp;Universal | 260047 | 13179182 |
|  |  | 61943753 |
| Energy — 5.9% |  |  |
| &nbsp;&nbsp;&nbsp;Chord Energy | 122289 | 11094058 |
| &nbsp;&nbsp;&nbsp;Civitas Resources | 271170 | 7817831 |
| &nbsp;&nbsp;&nbsp;TXO Partners | 706088 | 9263875 |

---

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

*29*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperDividend<sup>®</sup> U.S. ETF** | **Global X SuperDividend<sup>®</sup> U.S. ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** | | |
| Energy — continued |  |  |
| &nbsp;&nbsp;&nbsp;Vitesse Energy <sup>(A)</sup> | 405411 | $8817689 |
|  |  | 36993453 |
| Financials — 5.9% |  |  |
| &nbsp;&nbsp;&nbsp;Orchid Island Capital, Cl A <sup>‡</sup> | 1566137 | 11323170 |
| &nbsp;&nbsp;&nbsp;TFS Financial | 1000710 | 13309443 |
| &nbsp;&nbsp;&nbsp;Western Union | 1270306 | 11851955 |
|  |  | 36484568 |
| Health Care — 2.1% |  |  |
| &nbsp;&nbsp;&nbsp;Pfizer | 536487 | 13224405 |
| Industrials — 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;Ennis | 662792 | 10869789 |
| Materials — 7.0% |  |  |
| &nbsp;&nbsp;&nbsp;Ardagh Metal Packaging | 5216856 | 18624176 |
| &nbsp;&nbsp;&nbsp;Dow | 347249 | 8281888 |
| &nbsp;&nbsp;&nbsp;Huntsman | 1003403 | 8308177 |
| &nbsp;&nbsp;&nbsp;LyondellBasell Industries, Cl A | 176350 | 8186167 |
|  |  | 43400408 |
| Real Estate — 19.2% |  |  |
| &nbsp;&nbsp;&nbsp;Alexander's <sup>‡</sup> | 67886 | 14998054 |
| &nbsp;&nbsp;&nbsp;CBL & Associates Properties <sup>‡</sup> | 428521 | 12671366 |
| &nbsp;&nbsp;&nbsp;Community Healthcare Trust <sup>‡</sup> | 691991 | 10144588 |
| &nbsp;&nbsp;&nbsp;Easterly Government Properties <sup>‡</sup> | 514267 | 11118453 |
| &nbsp;&nbsp;&nbsp;Gaming and Leisure Properties <sup>‡</sup> | 279543 | 12484390 |
| &nbsp;&nbsp;&nbsp;LTC Properties <sup>‡</sup> | 394354 | 13833938 |
| &nbsp;&nbsp;&nbsp;National Health Investors <sup>‡</sup> | 200531 | 14941565 |
| &nbsp;&nbsp;&nbsp;Omega Healthcare Investors <sup>‡</sup> | 380322 | 15984934 |
| &nbsp;&nbsp;&nbsp;Universal Health Realty Income Trust <sup>‡</sup> | 353291 | 13502782 |
|  |  | 119680070 |
| Utilities — 18.3% |  |  |
| &nbsp;&nbsp;&nbsp;AES | 783148 | 10862263 |
| &nbsp;&nbsp;&nbsp;Avista | 369457 | 14057839 |
| &nbsp;&nbsp;&nbsp;Clearway Energy, Cl C | 392822 | 12542806 |
| &nbsp;&nbsp;&nbsp;Dominion Energy | 246594 | 14472602 |

---

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

*30*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperDividend<sup>®</sup> U.S. ETF** | **Global X SuperDividend<sup>®</sup> U.S. ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Utilities — continued |  |  |
| &nbsp;&nbsp;&nbsp;Evergy | 204477 | $15705878 |
| &nbsp;&nbsp;&nbsp;Northwest Natural Holding | 332595 | 15143050 |
| &nbsp;&nbsp;&nbsp;Northwestern Energy Group | 258192 | 15406317 |
| &nbsp;&nbsp;&nbsp;Spire | 183558 | 15859411 |
|  |  | 114050166 |
| TOTAL UNITED STATES |  | 469710770 |
| TOTAL COMMON STOCK<br> (Cost $579,826,682) |  | 540311828 |
| **MASTER LIMITED PARTNERSHIPS — 13.1%** |  |  |
| **UNITED STATES— 13.1%** |  |  |
| Energy — 9.6% |  |  |
| &nbsp;&nbsp;&nbsp;CrossAmerica Partners | 602523 | 12761437 |
| &nbsp;&nbsp;&nbsp;Delek Logistics Partners | 290251 | 12930682 |
| &nbsp;&nbsp;&nbsp;Global Partners | 230603 | 10425562 |
| &nbsp;&nbsp;&nbsp;MPLX | 250912 | 12736293 |
| &nbsp;&nbsp;&nbsp;USA Compression Partners | 480848 | 10612315 |
|  |  | 59466289 |
| Materials — 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;Westlake Chemical Partners | 576033 | 10863983 |
| Utilities — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;Suburban Propane Partners | 620258 | 11307303 |
| TOTAL UNITED STATES |  | 81637575 |
| TOTAL MASTER LIMITED PARTNERSHIPS <br> (Cost $43,861,219) |  | 81637575 |
|  | **Face Amount** |  |
| **REPURCHASE AGREEMENTS<sup>(B)</sup> — 0.9%** |  |  |
| Citadel Securities LLC <br> 4.260%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $1,336,367 (collateralized by various U.S. Treasury Obligations, ranging in par value $76 - $124,068, 0.000% - 4.875%, 11/04/2025 - 08/15/2055, with a total market value of $1,361,246) | $1335893 | 1335893 |

---

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

*31*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperDividend<sup>®</sup> U.S. ETF** | **Global X SuperDividend<sup>®</sup> U.S. ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| **REPURCHASE AGREEMENTS<sup>(B)</sup> — continued** |  |  |
| &nbsp;&nbsp;&nbsp;Daiwa Capital Markets America, Inc.<br> 4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $1,256,173 (collateralized by various U.S. Government Obligations and U.S. Treasury Obligations, ranging in par value $123 - $392,583, 1.500% - 7.500%, 06/30/2027 - 10/20/2055, with a total market value of $1,275,358) | $1255739 | $1255739 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank Securities, Inc. <br> 3.950%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $261,585 (collateralized by various U.S. Treasury Obligations, ranging in par value $5,637 - $30,156, 1.125% - 6.750%, 02/15/2026 - 08/15/2055, with a total market value of $263,521) | 261499 | 261499 |
| &nbsp;&nbsp;&nbsp;HSBC Securities USA, Inc.<br> 4.140%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $80,182 (collateralized by various U.S. Treasury Obligations, ranging in par value $15,778 - $30,346, 0.125% - 3.625%, 07/15/2030 - 02/15/2051, with a total market value of $81,139) | 80154 | 80154 |
| &nbsp;&nbsp;&nbsp;HSBC Securities USA, Inc.<br> 4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $1,256,173 (collateralized by various U.S. Government Obligations, ranging in par value $1,790 - $886,748, 1.550% - 7.000%, 01/01/2032 - 06/01/2055, with a total market value of $1,276,241) | 1255739 | 1255739 |
| &nbsp;&nbsp;&nbsp;Nomura Securities International, Inc.<br> 4.140%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $1,256,172 (collateralized by various U.S. Government Obligations, ranging in par value $1,145 - $151,122, 1.500% - 7.000%, 04/01/2031 - 11/01/2055, with a total market value of $1,275,709) | 1255739 | 1255739 |

---

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

*32*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperDividend<sup>®</sup> U.S. ETF** | **Global X SuperDividend<sup>®</sup> U.S. ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| **REPURCHASE AGREEMENTS<sup>(B)</sup> — continued** |  |  |
| &nbsp;&nbsp;&nbsp;RBC Dominion Securities, Inc.<br> 4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $239,973 (collateralized by various U.S. Government Obligations and U.S. Treasury Obligations, ranging in par value $76 - $441,326, 0.000% - 6.500%, 11/06/2025 - 08/15/2055, with a total market value of $243,525) | $239890 | $239890 |
| TOTAL REPURCHASE AGREEMENTS <br> (Cost $5,684,653) |  | 5684653 |
| TOTAL INVESTMENTS — 100.6% <br> (Cost $629,372,554) |  | $627634056 |

---

*Percentages are based on Net Assets of $624,026,152.*

&nbsp;&nbsp;&nbsp;&nbsp;*‡* *Real Estate Investment Trust* 

*(A)* *This security or a partial position of this security is on loan at October 31, 2025. The total market value of securities on loan at October 31, 2025 was $7,686,451.* 

*(B)* *These securities were purchased with cash collateral held from securities on loan. The total value of such securities as of October 31, 2025 was $5,684,653. The total value of non-cash collateral held from securities on loan as of October 31, 2025 was $2,135,636.* 

*The following is a summary of the level of inputs used as of October 31, 2025, in valuing the Fund's investments carried at value:*

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Investments in Securities* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Common Stock* | $*540311828* | $*—* | $*—* | $*540311828* |
| &nbsp;&nbsp;&nbsp;*Master Limited Partnerships* | *81637575* | *—* | *—* | *81637575* |
| &nbsp;&nbsp;&nbsp;*Repurchase Agreements* | *—* | *5684653* | *—* | *5684653* |
| *Total Investments in Securities* | $*621949403* | $*5684653* | $*—* | $*627634056* |

---

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

*See "Glossary" for abbreviations.*

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

*33*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** | **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 92.5%** |  |  |
| **BRAZIL — 12.3%** |  |  |
| Communication Services — 2.3% |  |  |
| &nbsp;&nbsp;&nbsp;TIM | 199900 | $901660 |
| Consumer Discretionary — 2.3% |  |  |
| &nbsp;&nbsp;&nbsp;Vibra Energia | 202600 | 895403 |
| Financials — 5.7% |  |  |
| &nbsp;&nbsp;&nbsp;Banco Bradesco | 289100 | 830502 |
| &nbsp;&nbsp;&nbsp;Banco do Brasil | 155300 | 631564 |
| &nbsp;&nbsp;&nbsp;Caixa Seguridade Participacoes | 256100 | 711924 |
|  |  | 2173990 |
| Utilities — 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;CPFL Energia | 97300 | 751637 |
| TOTAL BRAZIL |  | 4722690 |
| **CHILE — 1.7%** |  |  |
| Utilities — 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;Enel Americas | 6770850 | 639597 |
| **CHINA — 25.8%** |  |  |
| Consumer Discretionary — 2.6% |  |  |
| &nbsp;&nbsp;&nbsp;Chow Tai Fook Jewellery Group <sup>(A)</sup> | 512400 | 1003413 |
| Energy — 2.3% |  |  |
| &nbsp;&nbsp;&nbsp;PetroChina, Cl H | 862400 | 889896 |
| Financials — 7.6% |  |  |
| &nbsp;&nbsp;&nbsp;Bank of China, Cl H | 1170700 | 662757 |
| &nbsp;&nbsp;&nbsp;Bank of Communications, Cl H | 772980 | 686236 |
| &nbsp;&nbsp;&nbsp;China CITIC Bank, Cl H | 838800 | 799710 |
| &nbsp;&nbsp;&nbsp;China Construction Bank, Cl H | 789800 | 782463 |
|  |  | 2931166 |
| Industrials — 5.9% |  |  |
| &nbsp;&nbsp;&nbsp;COSCO SHIPPING Holdings, Cl H | 374100 | 649315 |
| &nbsp;&nbsp;&nbsp;Jiangsu Expressway, Cl H <sup>(A)</sup> | 556400 | 677227 |

---

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

*34*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** | **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Yutong Bus, Cl A | 206400 | $936911 |
|  |  | 2263453 |
| Materials — 3.5% |  |  |
| &nbsp;&nbsp;&nbsp;China Hongqiao Group | 357900 | 1359359 |
| Real Estate — 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;Youngor Fashion, Cl A | 674600 | 710380 |
| Utilities — 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;China Gas Holdings | 756600 | 777802 |
| TOTAL CHINA |  | 9935469 |
| **COLOMBIA — 2.3%** |  |  |
| Utilities — 2.3% |  |  |
| &nbsp;&nbsp;&nbsp;Interconexion Electrica ESP | 137667 | 891487 |
| **CZECH REPUBLIC — 4.2%** |  |  |
| Financials — 4.2% |  |  |
| &nbsp;&nbsp;&nbsp;Komercni Banka | 14771 | 757254 |
| &nbsp;&nbsp;&nbsp;Moneta Money Bank | 103098 | 874225 |
| TOTAL CZECH REPUBLIC |  | 1631479 |
| **HONG KONG — 1.7%** |  |  |
| Industrials — 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;Orient Overseas International | 38600 | 667983 |
| **HUNGARY — 1.8%** |  |  |
| Energy — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;MOL Hungarian Oil & Gas | 79970 | 704472 |
| **INDIA — 3.7%** |  |  |
| Energy — 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;Coal India | 146919 | 643227 |

---

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

*35*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** | **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Materials — 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;Vedanta | 141575 | $787128 |
| TOTAL INDIA |  | 1430355 |
| **INDONESIA — 7.1%** |  |  |
| Communication Services — 2.1% |  |  |
| &nbsp;&nbsp;&nbsp;Telkom Indonesia Persero | 4188900 | 808561 |
| Financials — 5.0% |  |  |
| &nbsp;&nbsp;&nbsp;Bank Mandiri Persero | 2126800 | 603638 |
| &nbsp;&nbsp;&nbsp;Bank Negara Indonesia Persero | 2581300 | 679861 |
| &nbsp;&nbsp;&nbsp;Bank Rakyat Indonesia Persero | 2728600 | 653026 |
|  |  | 1936525 |
| TOTAL INDONESIA |  | 2745086 |
| **KUWAIT — 2.0%** |  |  |
| Communication Services — 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;Mobile Telecommunications KSCP | 449502 | 777604 |
| **MEXICO — 1.7%** |  |  |
| Industrials — 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;Grupo Aeroportuario del Sureste, Cl B | 21845 | 661762 |
| **PHILIPPINES — 1.5%** |  |  |
| Communication Services — 1.5% |  |  |
| &nbsp;&nbsp;&nbsp;PLDT | 30980 | 589594 |
| **POLAND — 3.7%** |  |  |
| Financials — 3.7% |  |  |
| &nbsp;&nbsp;&nbsp;Bank Polska Kasa Opieki | 14523 | 745632 |
| &nbsp;&nbsp;&nbsp;Powszechny Zaklad Ubezpieczen | 42234 | 675973 |
| TOTAL POLAND |  | 1421605 |
| **ROMANIA — 1.9%** |  |  |
| Real Estate — 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;NEPI Rockcastle | 91314 | 739679 |

---

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

*36*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** | **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| **RUSSIA — 0.0%** |  |  |
| Materials — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Alrosa PJSC <sup>\*(B)</sup> | 1194381 | $— |
| &nbsp;&nbsp;&nbsp;PhosAgro PJSC GDR <sup>\*(B)</sup> | 42 |  |
| &nbsp;&nbsp;&nbsp;Severstal PAO <sup>\*(B)</sup> | 71665 |  |
| TOTAL RUSSIA |  |  |
| **SAUDI ARABIA — 1.8%** |  |  |
| Energy — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;Saudi Arabian Oil <sup>(A)</sup> | 100090 | 691261 |
| **SOUTH AFRICA — 2.2%** |  |  |
| Financials — 2.2% |  |  |
| &nbsp;&nbsp;&nbsp;Absa Group | 75105 | 839945 |
| **TAIWAN — 7.0%** |  |  |
| Industrials — 3.4% |  |  |
| &nbsp;&nbsp;&nbsp;Evergreen Marine Taiwan | 104600 | 658407 |
| &nbsp;&nbsp;&nbsp;Yang Ming Marine Transport | 338200 | 632592 |
|  |  | 1290999 |
| Information Technology — 3.6% |  |  |
| &nbsp;&nbsp;&nbsp;Catcher Technology | 103600 | 668963 |
| &nbsp;&nbsp;&nbsp;Innolux | 1693800 | 732818 |
|  |  | 1401781 |
| TOTAL TAIWAN |  | 2692780 |
| **THAILAND — 4.0%** |  |  |
| Energy — 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;PTT Exploration & Production NVDR | 231200 | 765066 |
| Financials — 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;SCB X NVDR | 188700 | 764487 |
| TOTAL THAILAND |  | 1529553 |

---

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

*37*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** | **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| **TURKEY — 2.6%** |  |  |
| Energy — 2.6% |  |  |
| &nbsp;&nbsp;&nbsp;Turkiye Petrol Rafinerileri <sup>(A)</sup> | 208357 | $979157 |
| **UNITED ARAB EMIRATES — 1.9%** |  |  |
| Real Estate — 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;Emaar Properties PJSC | 189779 | 733705 |
| **UNITED STATES — 1.6%** |  |  |
| Consumer Staples — 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;JBS NV \* | 47176 | 623195 |
| TOTAL COMMON STOCK<br> (Cost $32,988,256) |  | 35648458 |
| **PREFERRED STOCK — 7.1%** |  |  |
| **BRAZIL — 2.0%** |  |  |
| Utilities — 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;Cia Energetica de Minas Gerais <sup>(C)</sup> | 370585 | 780374 |
| TOTAL BRAZIL |  | 780374 |
| **COLOMBIA — 2.5%** |  |  |
| Financials — 2.5% |  |  |
| &nbsp;&nbsp;&nbsp;GRUPO CIBEST <sup>(C)</sup> | 66694 | 972614 |
| TOTAL COLOMBIA |  | 972614 |
| **RUSSIA — 0.0%** |  |  |
| Energy — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Surgutneftegas PJSC <sup>\*(B)(C)</sup> | 3166303 |  |
| TOTAL RUSSIA |  |  |
| **SOUTH KOREA — 2.6%** |  |  |
| Consumer Discretionary — 2.6% |  |  |
| &nbsp;&nbsp;&nbsp;Hyundai Motor <sup>(C)</sup> | 6514 | 992131 |
| TOTAL SOUTH KOREA |  | 992131 |
| TOTAL PREFERRED STOCK<br> (Cost $3,439,997) |  | 2745119 |

---

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

*38*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** | **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| **REPURCHASE AGREEMENTS<sup>(D)</sup> — 6.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Citadel Securities LLC <br>4.260%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $553,656 (collateralized by various U.S. Treasury Obligations, ranging in par value $32 - $51,402, 0.000% - 4.875%, 11/04/2025 - 08/15/2055, with a total market value of $563,964) | $553460 | $553460 |
| &nbsp;&nbsp;&nbsp;Daiwa Capital Markets America, Inc. <br>4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $520,432 (collateralized by various U.S. Government Obligations and U.S. Treasury Obligations, ranging in par value $51 - $162,647, 1.500% - 7.500%, 06/30/2027 - 10/20/2055, with a total market value of $528,380) | 520252 | 520252 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank Securities, Inc. <br>3.950%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $108,978 (collateralized by various U.S. Treasury Obligations, ranging in par value $2,348 - $12,563, 1.125% - 6.750%, 02/15/2026 - 08/15/2055, with a total market value of $109,784) | 108942 | 108942 |
| &nbsp;&nbsp;&nbsp;HSBC Securities USA, Inc. <br>4.140%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $33,219 (collateralized by various U.S. Treasury Obligations, ranging in par value $6,537 - $12,572, 0.125% - 3.625%, 07/15/2030 - 02/15/2051, with a total market value of $33,616) | 33208 | 33208 |
| &nbsp;&nbsp;&nbsp;HSBC Securities USA, Inc. <br>4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $520,432 (collateralized by various U.S. Government Obligations, ranging in par value $741 - $367,379, 1.550% - 7.000%, 01/01/2032 - 06/01/2055, with a total market value of $528,746) | 520252 | 520252 |

---

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

*39*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** | **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| **REPURCHASE AGREEMENTS<sup>(D)</sup> — continued** |  |  |
| &nbsp;&nbsp;&nbsp;Nomura Securities International, Inc. <br>4.140%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $520,431 (collateralized by various U.S. Government Obligations, ranging in par value $474 - $62,610, 1.500% - 7.000%, 04/01/2031 - 11/01/2055, with a total market value of $528,525) | $520252 | $520252 |
| &nbsp;&nbsp;&nbsp;RBC Dominion Securities, Inc. <br>4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $98,818 (collateralized by various U.S. Government Obligations and U.S. Treasury Obligations, ranging in par value $31 - $181,733, 0.000% - 6.500%, 11/06/2025 - 08/15/2055, with a total market value of $100,281) | 98784 | 98784 |
| TOTAL REPURCHASE AGREEMENTS <br>(Cost $2,355,150) |  | 2355150 |
| TOTAL INVESTMENTS — 105.7% <br>(Cost $38,783,403) |  | $40748727 |

---

*Percentages are based on Net Assets of $38,540,903.*

*A list of the open futures contracts held by the Fund at October 31, 2025, is as follows:*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ***Type of Contract*** | ***Number of <br> Contracts*** | ***Expiration <br> Date*** | ***Notional Amount*** | **Value** | ***Unrealized <br> Appreciation*** |
| *Long Contracts <br> MSCI Emerging Markets Index* | *2* | *Dec-2025* | $*173847* | $*181960* | $*8113* |

---

*\** *Non-income producing security.*

*(A)* *This security or a partial position of this security is on loan at October 31, 2025. The total market value of securities on loan at October 31, 2025 was $2,225,323.*

*(B)* *Level 3 security in accordance with fair value hierarchy.*

*(C)* *There is currently no stated interest rate.*

*(D)* *These securities were purchased with cash collateral held from securities on loan. The total value of such securities as of October 31, 2025 was $2,355,150. The total value of non-cash collateral held from securities on loan as of October 31, 2025 was $0.*

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

*40*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** | **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** |

---

*The following is a summary of the level of inputs used as of October 31, 2025, in valuing the Fund's investments and other financial instruments carried at value:*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *Investments in Securities* | *Level 1* | *Level 2* | *Level 3<sup>(1)</sup>* |  | *Total* |
| &nbsp;&nbsp;&nbsp;*Common Stock* | $*32950402* | $*2698056* | $*—* | *<sup>^</sup>* | $*35648458* |
| &nbsp;&nbsp;&nbsp;*Preferred Stock* | *2745119* | *—* | *—* | *^* | *2745119* |
| &nbsp;&nbsp;&nbsp;*Repurchase Agreements* | *—* | *2355150* | *—* |  | *2355150* |
| *Total Investments in Securities* | $*35695521* | $*5053206* | $*—* |  | $*40748727* |
| *Other Financial Instruments* | *Level 1* | *Level 2* | *Level 3* |  | *Total* |
| &nbsp;&nbsp;&nbsp;*Futures Contracts\** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Unrealized Appreciation* | $*8113* | $*—* | $*—* |  | $*8113* |
| *Total Other Financial Instruments* | $*8113* | $*—* | $*—* |  | $*8113* |

---

*\** *Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.*

---

| | |
|:---|:---|
| *^* | *Includes Securities in which the fair value is $0 or has been rounded to $0.* |
| *(1)* | *A reconciliation of Level 3 investments and disclosures of significant unobservable inputs are presented when the Fund has a significant amount of Level 3 investments at the end of the period in relation to Net Assets. Management has concluded that Level 3 investments are not material in relation to Net Assets.* |

---

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

*See "Glossary" for abbreviations.*

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

*41*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperDividend<sup>®</sup> REIT ETF** | **Global X SuperDividend<sup>®</sup> REIT ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 99.2%** |  |  |
| **CANADA — 3.5%** |  |  |
| Real Estate — 3.5% |  |  |
| &nbsp;&nbsp;&nbsp;SmartCentres Real Estate Investment Trust <sup>‡</sup> | 368930 | $7003917 |
| **HONG KONG — 3.9%** |  |  |
| Real Estate — 3.9% |  |  |
| &nbsp;&nbsp;&nbsp;Link REIT <sup>‡</sup> | 1527800 | 7957251 |
| **SINGAPORE — 18.2%** |  |  |
| Real Estate — 18.2% |  |  |
| &nbsp;&nbsp;&nbsp;CapitaLand Ascendas REIT <sup>‡</sup> | 3273600 | 7093282 |
| &nbsp;&nbsp;&nbsp;CapitaLand Integrated Commercial Trust <sup>‡</sup> | 4331000 | 7886949 |
| &nbsp;&nbsp;&nbsp;Frasers Logistics & Commercial Trust <sup>‡</sup> | 9597546 | 7042650 |
| &nbsp;&nbsp;&nbsp;Mapletree Logistics Trust <sup>‡</sup> | 6690000 | 6888163 |
| &nbsp;&nbsp;&nbsp;Mapletree Pan Asia Commercial Trust <sup>‡</sup> | 7037900 | 7787142 |
| TOTAL SINGAPORE |  | 36698186 |
| **SOUTH AFRICA — 4.4%** |  |  |
| Real Estate — 4.4% |  |  |
| &nbsp;&nbsp;&nbsp;Growthpoint Properties <sup>‡</sup> | 9434602 | 8878024 |
| **UNITED KINGDOM — 3.4%** |  |  |
| Real Estate — 3.4% |  |  |
| &nbsp;&nbsp;&nbsp;LondonMetric Property PLC <sup>‡</sup> | 2779267 | 6945246 |
| **UNITED STATES — 65.8%** |  |  |
| Financials — 33.9% |  |  |
| &nbsp;&nbsp;&nbsp;AGNC Investment <sup>‡</sup> | 647230 | 6472300 |
| &nbsp;&nbsp;&nbsp;Annaly Capital Management <sup>‡</sup> | 322254 | 6822117 |
| &nbsp;&nbsp;&nbsp;Apollo Commercial Real Estate Finance <sup>‡</sup> | 702949 | 6881871 |
| &nbsp;&nbsp;&nbsp;ARMOUR Residential REIT <sup>‡</sup> | 338518 | 5490762 |
| &nbsp;&nbsp;&nbsp;Dynex Capital <sup>‡</sup> | 497038 | 6580783 |
| &nbsp;&nbsp;&nbsp;Ellington Financial <sup>‡</sup> | 501396 | 6678595 |
| &nbsp;&nbsp;&nbsp;Ladder Capital <sup>‡</sup> | 566491 | 5987810 |
| &nbsp;&nbsp;&nbsp;Orchid Island Capital, Cl A <sup>‡</sup> | 790114 | 5712524 |
| &nbsp;&nbsp;&nbsp;PennyMac Mortgage Investment Trust <sup>‡</sup> | 496863 | 5982230 |
| &nbsp;&nbsp;&nbsp;Rithm Capital <sup>‡</sup> | 554460 | 6082426 |

---

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

*42*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperDividend<sup>®</sup> REIT ETF** | **Global X SuperDividend<sup>®</sup> REIT ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Starwood Property Trust <sup>‡</sup> | 326320 | $5932498 |
|  |  | 68623916 |
| Real Estate — 31.9% |  |  |
| &nbsp;&nbsp;&nbsp;Broadstone Net Lease <sup>‡</sup> | 391350 | 7012992 |
| &nbsp;&nbsp;&nbsp;CTO Realty Growth <sup>‡</sup> | 323466 | 5395413 |
| &nbsp;&nbsp;&nbsp;EPR Properties <sup>‡</sup> | 131683 | 6455101 |
| &nbsp;&nbsp;&nbsp;Gaming and Leisure Properties <sup>‡</sup> | 130492 | 5827773 |
| &nbsp;&nbsp;&nbsp;Getty Realty <sup>‡</sup> | 205637 | 5640623 |
| &nbsp;&nbsp;&nbsp;LTC Properties <sup>‡</sup> | 182597 | 6405503 |
| &nbsp;&nbsp;&nbsp;NNN REIT <sup>‡</sup> | 158164 | 6399315 |
| &nbsp;&nbsp;&nbsp;Omega Healthcare Investors <sup>‡</sup> | 168750 | 7092562 |
| &nbsp;&nbsp;&nbsp;Realty Income <sup>‡</sup> | 115521 | 6697908 |
| &nbsp;&nbsp;&nbsp;WP Carey <sup>‡</sup> | 113592 | 7497072 |
|  |  | 64424262 |
| TOTAL UNITED STATES |  | 133048178 |
| TOTAL COMMON STOCK<br> (Cost $192,425,013) |  | 200530802 |
| TOTAL INVESTMENTS — 99.2% <br>(Cost $192,425,013) |  | $200530802 |

---

*Percentages are based on Net Assets of $202,140,606.*

*A list of the open futures contracts held by the Fund at October 31, 2025, is as follows:*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ***Type of Contract*** | ***Number of <br> Contracts*** | ***Expiration <br> Date*** | ***Notional Amount*** | ***Value*** | ***Unrealized <br> Depreciation*** |
| *Long Contracts <br> Dow Jones U.S. Real Estate Index* | *44* | *Dec-2025* | $*1610692* | $*1584880* | $*(25812)* |

---

&nbsp;&nbsp;&nbsp;&nbsp;*‡* *Real Estate Investment Trust* 

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

*43*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X SuperDividend<sup>®</sup> REIT ETF** | **Global X SuperDividend<sup>®</sup> REIT ETF** |

---

*The following is a summary of the level of inputs used as of October 31, 2025, in valuing the Fund's investments and other financial instruments carried at value:*

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Investments in Securities* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Common Stock* | $*200530802* | $*—* | $*—* | $*200530802* |
| *Total Investments in Securities* | $*200530802* | $*—* | $*—* | $*200530802* |
| *Other Financial Instruments* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Futures Contracts\** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Unrealized Depreciation* | $*(25812)* | $*—* | $*—* | $*(25812)* |
| *Total Other Financial Instruments* | $*(25812)* | $*—* | $*—* | $*(25812)* |

---

*\* Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.*

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

*See "Glossary" for abbreviations.*

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

*44*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Renewable Energy Producers ETF** | **Global X Renewable Energy Producers ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 95.1%** |  |  |
| **AUSTRIA — 5.4%** |  |  |
| Utilities — 5.4% |  |  |
| &nbsp;&nbsp;&nbsp;Verbund <sup>(A)</sup> | 18200 | $1406383 |
| **BRAZIL — 13.2%** |  |  |
| Utilities — 13.2% |  |  |
| &nbsp;&nbsp;&nbsp;Centrais Eletricas Brasileiras | 204255 | 2113421 |
| &nbsp;&nbsp;&nbsp;Engie Brasil Energia | 139384 | 1035321 |
| &nbsp;&nbsp;&nbsp;Serena Energia \* | 128762 | 300078 |
| TOTAL BRAZIL |  | 3448820 |
| **CANADA — 5.5%** |  |  |
| Utilities — 5.5% |  |  |
| &nbsp;&nbsp;&nbsp;Boralex, Cl A <sup>(A)</sup> | 21373 | 429550 |
| &nbsp;&nbsp;&nbsp;Northland Power <sup>(A)</sup> | 54584 | 998457 |
| TOTAL CANADA |  | 1428007 |
| **CHINA — 4.1%** |  |  |
| Utilities — 4.1% |  |  |
| &nbsp;&nbsp;&nbsp;China Datang Renewable Power, Cl H | 513900 | 157366 |
| &nbsp;&nbsp;&nbsp;China Longyuan Power Group, Cl H | 691200 | 640313 |
| &nbsp;&nbsp;&nbsp;Xinyi Energy Holdings <sup>(A)</sup> | 1733100 | 283194 |
| TOTAL CHINA |  | 1080873 |
| **DENMARK — 6.2%** |  |  |
| Utilities — 6.2% |  |  |
| &nbsp;&nbsp;&nbsp;Orsted \* | 90669 | 1622906 |
| **GERMANY — 0.9%** |  |  |
| Energy — 0.9% |  |  |
| &nbsp;&nbsp;&nbsp;Verbio <sup>(A)</sup> | 13133 | 233132 |
| **INDIA — 1.5%** |  |  |
| Utilities — 1.5% |  |  |
| &nbsp;&nbsp;&nbsp;ReNew Energy Global PLC, Cl A \* | 50647 | 381878 |

---

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

*45*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Renewable Energy Producers ETF** | **Global X Renewable Energy Producers ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| **INDONESIA — 8.5%** |  |  |
| Utilities — 8.5% |  |  |
| &nbsp;&nbsp;&nbsp;Barito Renewables Energy | 2966500 | $1547468 |
| &nbsp;&nbsp;&nbsp;Pertamina Geothermal Energy | 8634200 | 677548 |
| TOTAL INDONESIA |  | 2225016 |
| **ISRAEL — 5.3%** |  |  |
| Utilities — 5.3% |  |  |
| &nbsp;&nbsp;&nbsp;Energix-Renewable Energies <sup>(A)</sup> | 114626 | 528712 |
| &nbsp;&nbsp;&nbsp;Enlight Renewable Energy \* | 24985 | 872195 |
| TOTAL ISRAEL |  | 1400907 |
| **ITALY — 3.1%** |  |  |
| Utilities — 3.1% |  |  |
| &nbsp;&nbsp;&nbsp;ERG | 31250 | 806498 |
| **JAPAN — 0.7%** |  |  |
| Industrials — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;West Holdings | 9436 | 90468 |
| Utilities — 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;RENOVA <sup>\*(A)</sup> | 18703 | 100644 |
| TOTAL JAPAN |  | 191112 |
| **NEW ZEALAND — 13.4%** |  |  |
| Utilities — 13.4% |  |  |
| &nbsp;&nbsp;&nbsp;Contact Energy | 195560 | 1043721 |
| &nbsp;&nbsp;&nbsp;Mercury NZ | 288434 | 1070311 |
| &nbsp;&nbsp;&nbsp;Meridian Energy | 409505 | 1388256 |
| TOTAL NEW ZEALAND |  | 3502288 |
| **RUSSIA — 0.0%** |  |  |
| Utilities — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;RusHydro PJSC <sup>\*(B)</sup> | 271804543 |  |

---

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

*46*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Renewable Energy Producers ETF** | **Global X Renewable Energy Producers ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| **SOUTH AFRICA — 1.3%** |  |  |
| Utilities — 1.3% |  |  |
| &nbsp;&nbsp;&nbsp;Scatec \* | 32981 | $348165 |
| **SOUTH KOREA — 0.4%** |  |  |
| Utilities — 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;SK Eternix \* | 6857 | 100106 |
| **SPAIN — 10.3%** |  |  |
| Utilities — 10.3% |  |  |
| &nbsp;&nbsp;&nbsp;EDP Renovaveis | 117698 | 1722542 |
| &nbsp;&nbsp;&nbsp;Grenergy Renovables \* | 5934 | 512308 |
| &nbsp;&nbsp;&nbsp;Solaria Energia y Medio Ambiente \* | 25910 | 448431 |
| TOTAL SPAIN |  | 2683281 |
| **THAILAND — 0.5%** |  |  |
| Utilities — 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;Energy Absolute NVDR \* | 1522630 | 144093 |
| **TURKEY — 0.8%** |  |  |
| Utilities — 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;Akfen Yenilenebilir Enerji \* | 242988 | 99570 |
| &nbsp;&nbsp;&nbsp;IC Enterra Yenilenebilir Enerji \* | 373762 | 100001 |
| TOTAL TURKEY |  | 199571 |
| **UNITED KINGDOM — 2.6%** |  |  |
| Utilities — 2.6% |  |  |
| &nbsp;&nbsp;&nbsp;Drax Group PLC | 72475 | 687023 |
| **UNITED STATES — 11.4%** |  |  |
| Industrials — 3.8% |  |  |
| &nbsp;&nbsp;&nbsp;Sunrun \* | 47583 | 987823 |
| Utilities — 7.6% |  |  |
| &nbsp;&nbsp;&nbsp;Clearway Energy, Cl C | 17321 | 553059 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Partners | 19357 | 190860 |

---

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

*47*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Renewable Energy Producers ETF** | **Global X Renewable Energy Producers ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Utilities — continued |  |  |
| &nbsp;&nbsp;&nbsp;Ormat Technologies | 11813 | $1256549 |
|  |  | 2000468 |
| TOTAL UNITED STATES |  | 2988291 |
| TOTAL COMMON STOCK <br> (Cost $42,583,886) |  | 24878350 |
| **MASTER LIMITED PARTNERSHIP — 4.5%** |  |  |
| **CANADA — 4.5%** |  |  |
| Utilities — 4.5% |  |  |
| &nbsp;&nbsp;&nbsp;Brookfield Renewable Partners, Cl A | 38786 | 1183386 |
| TOTAL MASTER LIMITED PARTNERSHIP <br> (Cost $680,815) |  | 1183386 |
|  | **Face Amount** |  |
| **REPURCHASE AGREEMENTS<sup>(C)</sup> — 5.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citadel Securities LLC<br> 4.260%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $362,971 (collateralized by various U.S. Treasury Obligations, ranging in par value $21 - $33,698, 0.000% - 4.875%, 11/04/2025 - 08/15/2055, with a total market value of $369,728) | $362842 | 362842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Daiwa Capital Markets America, Inc.<br> 4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $341,189 (collateralized by various U.S. Government Obligations and U.S. Treasury Obligations, ranging in par value $34 - $106,629, 1.500% - 7.500%, 06/30/2027 - 10/20/2055, with a total market value of $346,400) | 341071 | 341071 |

---

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

*48*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Renewable Energy Producers ETF** | **Global X Renewable Energy Producers ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| **REPURCHASE AGREEMENTS<sup>(C)</sup> — continued** |  |  |
| &nbsp;&nbsp;&nbsp;Deutsche Bank Securities, Inc. <br>3.950%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $72,262 (collateralized by various U.S. Treasury Obligations, ranging in par value $1,557 - $8,331, 1.125% - 6.750%, 02/15/2026 - 08/15/2055, with a total market value of $72,797) | $72238 | $72238 |
| &nbsp;&nbsp;&nbsp;HSBC Securities USA, Inc. <br>4.140%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $341,189 (collateralized by various U.S. Government Obligations, ranging in par value $486 - $240,849, 1.550% - 7.000%, 01/01/2032 - 06/01/2055, with a total market value of $346,639) | 341071 | 341071 |
| &nbsp;&nbsp;&nbsp;HSBC Securities USA, Inc. <br>4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $21,779 (collateralized by various U.S. Treasury Obligations, ranging in par value $4,286 - $8,242, 0.125% - 3.625%, 07/15/2030 - 02/15/2051, with a total market value of $22,039) | 21771 | 21771 |
| &nbsp;&nbsp;&nbsp;Nomura Securities International, Inc. <br>4.140%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $341,189 (collateralized by various U.S. Government Obligations, ranging in par value $311 - $41,046, 1.500% - 7.000%, 04/01/2031 - 11/01/2055, with a total market value of $346,495) | 341071 | 341071 |

---

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

*49*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Renewable Energy Producers ETF** | **Global X Renewable Energy Producers ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| **REPURCHASE AGREEMENTS<sup>(C)</sup> — continued** |  |  |
| &nbsp;&nbsp;&nbsp;RBC Dominion Securities, Inc. <br>4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $63,967 (collateralized by various U.S. Government Obligations and U.S. Treasury Obligations, ranging in par value $20 - $117,640, 0.000% - 6.500%, 11/06/2025 - 08/15/2055, with a total market value of $64,914) | $63945 | $63945 |
| TOTAL REPURCHASE AGREEMENTS <br> (Cost $1,544,009) |  | 1544009 |
| TOTAL INVESTMENTS — 105.5% <br> (Cost $44,808,710) |  | $27605745 |

---

*Percentages are based on Net Assets of $26,155,060.*

*\** *Non-income producing security.*

*(A)* *This security or a partial position of this security is on loan at October 31, 2025. The total market value of securities on loan at October 31, 2025 was $1,463,134.*

*(B)* *Level 3 security in accordance with fair value hierarchy.*

*(C)* *These securities were purchased with cash collateral held from securities on loan. The total value of such securities as of October 31, 2025 was $1,544,009. The total value of non-cash collateral held from securities on loan as of October 31, 2025 was $0.*

*The following is a summary of the level of inputs used as of October 31, 2025, in valuing the Fund's investments carried at value:*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *Investments in Securities* | *Level 1* | *Level 2* | *Level 3<sup>(1)</sup>* |  | *Total* |
| &nbsp;&nbsp;&nbsp;*Common Stock* | $*23477443* | $*1400907* | $*—* | *<sup>^</sup>* | $*24878350* |
| &nbsp;&nbsp;&nbsp;*Master Limited Partnership* | *1183386* | *—* | *—* |  | *1183386* |
| &nbsp;&nbsp;&nbsp;*Repurchase Agreements* | *—* | *1544009* | *—* |  | *1544009* |
| *Total Investments in Securities* | $*24660829* | $*2944916* | $*—* |  | $*27605745* |

---

*(1) A reconciliation of Level 3 investments and disclosures of significant unobservable inputs are presented when the Fund has a significant amount of Level 3 investments at*

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

*50*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Renewable Energy Producers ETF** | **Global X Renewable Energy Producers ETF** |

---

*the end of the period in relation to Net Assets. Management has concluded that Level 3 investments are not material in relation to Net Assets.*

*^ Includes Securities in which the fair value is $0 or has been rounded to $0.* 

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

*See "Glossary" for abbreviations.*

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

*51*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Catholic Values ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 99.9%** | | |
| **NETHERLANDS — 0.1%** | | |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors | 4927 | $1030334 |
| **SWITZERLAND — 0.1%** |  |  |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;TE Connectivity PLC | 5789 | 1429941 |
| **UNITED STATES — 99.7%** |  |  |
| Communication Services — 10.1% |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl A | 110987 | 31208435 |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl C | 89098 | 25109598 |
| &nbsp;&nbsp;&nbsp;AT&T | 136428 | 3376593 |
| &nbsp;&nbsp;&nbsp;Charter Communications, Cl A \* | 1772 | 414364 |
| &nbsp;&nbsp;&nbsp;Comcast, Cl A | 70266 | 1955854 |
| &nbsp;&nbsp;&nbsp;Electronic Arts | 4296 | 859458 |
| &nbsp;&nbsp;&nbsp;Fox, Cl A | 4005 | 258923 |
| &nbsp;&nbsp;&nbsp;Fox, Cl B | 2831 | 165359 |
| &nbsp;&nbsp;&nbsp;Interpublic Group | 6988 | 179312 |
| &nbsp;&nbsp;&nbsp;Live Nation Entertainment \* | 2992 | 447394 |
| &nbsp;&nbsp;&nbsp;Match Group | 4515 | 146015 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 41383 | 26830668 |
| &nbsp;&nbsp;&nbsp;Netflix \* | 8105 | 9068360 |
| &nbsp;&nbsp;&nbsp;News, Cl A | 7088 | 187832 |
| &nbsp;&nbsp;&nbsp;News, Cl B | 2374 | 72336 |
| &nbsp;&nbsp;&nbsp;Omnicom Group | 3696 | 277274 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software \* | 3308 | 848072 |
| &nbsp;&nbsp;&nbsp;TKO Group Holdings, Cl A | 1316 | 247934 |
| &nbsp;&nbsp;&nbsp;T-Mobile US | 9233 | 1939392 |
| &nbsp;&nbsp;&nbsp;Trade Desk, Cl A \* | 8503 | 427531 |
| &nbsp;&nbsp;&nbsp;Verizon Communications | 80446 | 3196924 |
| &nbsp;&nbsp;&nbsp;Walt Disney | 34304 | 3863316 |
| &nbsp;&nbsp;&nbsp;Warner Bros Discovery \* | 47237 | 1060471 |
|  |  | 112141415 |
| Consumer Discretionary — 10.6% |  |  |
| &nbsp;&nbsp;&nbsp;Airbnb, Cl A \* | 8243 | 1043069 |
| &nbsp;&nbsp;&nbsp;Amazon.com \* | 186453 | 45535552 |
| &nbsp;&nbsp;&nbsp;APTIV PLC \* | 4183 | 339241 |

---

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

*52*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Catholic Values ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;AutoZone \* | 321 | $1179492 |
| &nbsp;&nbsp;&nbsp;Best Buy | 3741 | 307286 |
| &nbsp;&nbsp;&nbsp;Booking Holdings | 622 | 3158354 |
| &nbsp;&nbsp;&nbsp;Carnival \* | 20763 | 598597 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Cl A \* | 25760 | 816334 |
| &nbsp;&nbsp;&nbsp;Darden Restaurants | 2248 | 404977 |
| &nbsp;&nbsp;&nbsp;Deckers Outdoor \* | 2826 | 230319 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza | 594 | 236685 |
| &nbsp;&nbsp;&nbsp;DoorDash, Cl A \* | 7111 | 1808825 |
| &nbsp;&nbsp;&nbsp;DR Horton | 5310 | 791615 |
| &nbsp;&nbsp;&nbsp;eBay | 8779 | 713821 |
| &nbsp;&nbsp;&nbsp;Expedia Group | 2258 | 496760 |
| &nbsp;&nbsp;&nbsp;Ford Motor | 75099 | 986050 |
| &nbsp;&nbsp;&nbsp;Garmin | 3143 | 672414 |
| &nbsp;&nbsp;&nbsp;General Motors | 18291 | 1263725 |
| &nbsp;&nbsp;&nbsp;Genuine Parts | 2672 | 340172 |
| &nbsp;&nbsp;&nbsp;Hasbro | 2559 | 195277 |
| &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings | 4508 | 1158376 |
| &nbsp;&nbsp;&nbsp;Home Depot | 19114 | 7255483 |
| &nbsp;&nbsp;&nbsp;Lennar, Cl A | 4351 | 538523 |
| &nbsp;&nbsp;&nbsp;LKQ | 4943 | 157978 |
| &nbsp;&nbsp;&nbsp;Lowe's | 10756 | 2561326 |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica \* | 2095 | 357281 |
| &nbsp;&nbsp;&nbsp;Marriott International, Cl A | 4318 | 1125185 |
| &nbsp;&nbsp;&nbsp;McDonald's | 13709 | 4091177 |
| &nbsp;&nbsp;&nbsp;Mohawk Industries \* | 981 | 111481 |
| &nbsp;&nbsp;&nbsp;NIKE, Cl B | 22824 | 1474202 |
| &nbsp;&nbsp;&nbsp;Norwegian Cruise Line Holdings \* | 8682 | 194651 |
| &nbsp;&nbsp;&nbsp;NVR \* | 55 | 396595 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive \* | 16301 | 1539467 |
| &nbsp;&nbsp;&nbsp;Pool | 622 | 166111 |
| &nbsp;&nbsp;&nbsp;PulteGroup | 3790 | 454307 |
| &nbsp;&nbsp;&nbsp;Ralph Lauren, Cl A | 735 | 234950 |
| &nbsp;&nbsp;&nbsp;Ross Stores | 6283 | 998494 |
| &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises | 4853 | 1391986 |
| &nbsp;&nbsp;&nbsp;Starbucks | 21838 | 1766039 |
| &nbsp;&nbsp;&nbsp;Tapestry | 3998 | 439060 |
| &nbsp;&nbsp;&nbsp;Tesla \* | 53911 | 24613606 |
| &nbsp;&nbsp;&nbsp;TJX | 21433 | 3003621 |

---

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

*53*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Catholic Values ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;Tractor Supply | 10133 | $548297 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty \* | 859 | 446577 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma | 2349 | 456505 |
| &nbsp;&nbsp;&nbsp;Yum! Brands | 5332 | 736936 |
|  |  | 117336779 |
| Consumer Staples — 4.8% |  |  |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland | 12161 | 736105 |
| &nbsp;&nbsp;&nbsp;Brown-Forman, Cl B | 4457 | 121364 |
| &nbsp;&nbsp;&nbsp;Bunge Global | 3544 | 335262 |
| &nbsp;&nbsp;&nbsp;Clorox | 3073 | 345590 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive | 20457 | 1576212 |
| &nbsp;&nbsp;&nbsp;Conagra Brands | 12125 | 208429 |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Cl A | 3613 | 474676 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale | 11225 | 10231026 |
| &nbsp;&nbsp;&nbsp;Dollar General | 5543 | 546872 |
| &nbsp;&nbsp;&nbsp;Dollar Tree \* | 4883 | 484003 |
| &nbsp;&nbsp;&nbsp;Estee Lauder, Cl A | 5928 | 573178 |
| &nbsp;&nbsp;&nbsp;General Mills | 13533 | 630773 |
| &nbsp;&nbsp;&nbsp;Hershey | 3734 | 633398 |
| &nbsp;&nbsp;&nbsp;Hormel Foods | 7377 | 159269 |
| &nbsp;&nbsp;&nbsp;J M Smucker | 2700 | 279585 |
| &nbsp;&nbsp;&nbsp;Kellanova | 6805 | 565223 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper | 34384 | 933870 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark | 8375 | 1002571 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz | 21570 | 533426 |
| &nbsp;&nbsp;&nbsp;Kroger | 15396 | 979648 |
| &nbsp;&nbsp;&nbsp;Lamb Weston Holdings | 3527 | 217722 |
| &nbsp;&nbsp;&nbsp;McCormick | 6404 | 410881 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage, Cl B | 4287 | 187428 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Cl A | 32752 | 1881930 |
| &nbsp;&nbsp;&nbsp;Monster Beverage \* | 18042 | 1205747 |
| &nbsp;&nbsp;&nbsp;PepsiCo | 34654 | 5062603 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble | 59289 | 8915287 |
| &nbsp;&nbsp;&nbsp;Sysco | 12086 | 897748 |
| &nbsp;&nbsp;&nbsp;Target | 11500 | 1066280 |
| &nbsp;&nbsp;&nbsp;The Campbell's Company | 4894 | 147456 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Cl A | 7233 | 371849 |

---

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

*54*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Catholic Values ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** | | |
| Consumer Staples — continued |  |  |
| &nbsp;&nbsp;&nbsp;Walmart | 111099 | $11240997 |
|  |  | 52956408 |
| Energy — 2.8% |  |  |
| &nbsp;&nbsp;&nbsp;APA | 6820 | 154473 |
| &nbsp;&nbsp;&nbsp;Baker Hughes, Cl A | 18794 | 909818 |
| &nbsp;&nbsp;&nbsp;Chevron | 36689 | 5786589 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | 23809 | 2115668 |
| &nbsp;&nbsp;&nbsp;Coterra Energy | 14548 | 344206 |
| &nbsp;&nbsp;&nbsp;Devon Energy | 12101 | 393161 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy | 3587 | 513622 |
| &nbsp;&nbsp;&nbsp;EOG Resources | 10384 | 1099043 |
| &nbsp;&nbsp;&nbsp;EQT | 11896 | 637388 |
| &nbsp;&nbsp;&nbsp;Expand Energy | 4540 | 469027 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil | 81274 | 9294495 |
| &nbsp;&nbsp;&nbsp;Halliburton | 16253 | 436230 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan | 37278 | 976311 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum | 5795 | 1129503 |
| &nbsp;&nbsp;&nbsp;Occidental Petroleum | 13638 | 561886 |
| &nbsp;&nbsp;&nbsp;ONEOK | 12005 | 804335 |
| &nbsp;&nbsp;&nbsp;Phillips 66 | 7704 | 1048823 |
| &nbsp;&nbsp;&nbsp;SLB LTD | 28442 | 1025618 |
| &nbsp;&nbsp;&nbsp;Targa Resources | 4102 | 631872 |
| &nbsp;&nbsp;&nbsp;Texas Pacific Land | 368 | 347164 |
| &nbsp;&nbsp;&nbsp;Valero Energy | 5922 | 1004134 |
| &nbsp;&nbsp;&nbsp;Williams | 23280 | 1347214 |
|  |  | 31030580 |
| Financials — 12.9% |  |  |
| &nbsp;&nbsp;&nbsp;Aflac | 10331 | 1107380 |
| &nbsp;&nbsp;&nbsp;Allstate | 5642 | 1080556 |
| &nbsp;&nbsp;&nbsp;American Express | 11650 | 4202505 |
| &nbsp;&nbsp;&nbsp;American International Group | 11890 | 938834 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial | 2018 | 913690 |
| &nbsp;&nbsp;&nbsp;Aon PLC, Cl A | 4628 | 1576667 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management | 9856 | 1225199 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group | 7977 | 688495 |
| &nbsp;&nbsp;&nbsp;Arthur J Gallagher | 5502 | 1372694 |
| &nbsp;&nbsp;&nbsp;Assurant | 1083 | 229293 |

---

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

*55*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Catholic Values ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Bank of America | 146260 | $7817597 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon | 15136 | 1633628 |
| &nbsp;&nbsp;&nbsp;BlackRock Funding | 3089 | 3344800 |
| &nbsp;&nbsp;&nbsp;Blackstone | 15804 | 2317499 |
| &nbsp;&nbsp;&nbsp;Block, Cl A \* | 11795 | 895712 |
| &nbsp;&nbsp;&nbsp;Brown & Brown | 6288 | 501405 |
| &nbsp;&nbsp;&nbsp;Capital One Financial | 13715 | 3017163 |
| &nbsp;&nbsp;&nbsp;Cboe Global Markets | 2233 | 548514 |
| &nbsp;&nbsp;&nbsp;Charles Schwab | 36623 | 3461606 |
| &nbsp;&nbsp;&nbsp;Chubb | 7958 | 2203889 |
| &nbsp;&nbsp;&nbsp;Cincinnati Financial | 3356 | 518804 |
| &nbsp;&nbsp;&nbsp;Citigroup | 39512 | 3999800 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group | 9258 | 470954 |
| &nbsp;&nbsp;&nbsp;CME Group, Cl A | 7724 | 2050645 |
| &nbsp;&nbsp;&nbsp;Coinbase Global, Cl A \* | 4854 | 1668708 |
| &nbsp;&nbsp;&nbsp;Corpay \* | 1507 | 392347 |
| &nbsp;&nbsp;&nbsp;Erie Indemnity, Cl A | 545 | 159489 |
| &nbsp;&nbsp;&nbsp;Everest Group | 900 | 283068 |
| &nbsp;&nbsp;&nbsp;FactSet Research Systems | 803 | 214240 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services | 11212 | 700974 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 14206 | 591254 |
| &nbsp;&nbsp;&nbsp;Fiserv \* | 11667 | 778072 |
| &nbsp;&nbsp;&nbsp;Franklin Resources | 6456 | 145970 |
| &nbsp;&nbsp;&nbsp;Global Payments | 5207 | 404896 |
| &nbsp;&nbsp;&nbsp;Globe Life | 1719 | 226066 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group | 6494 | 5126169 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group | 6034 | 749302 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares | 31463 | 485789 |
| &nbsp;&nbsp;&nbsp;Interactive Brokers Group, Cl A | 9556 | 672360 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange | 12273 | 1795417 |
| &nbsp;&nbsp;&nbsp;Invesco | 9571 | 226833 |
| &nbsp;&nbsp;&nbsp;Jack Henry & Associates | 1545 | 230112 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase | 59019 | 18361991 |
| &nbsp;&nbsp;&nbsp;KeyCorp | 20004 | 351870 |
| &nbsp;&nbsp;&nbsp;KKR | 14704 | 1739924 |
| &nbsp;&nbsp;&nbsp;Loews | 3650 | 363394 |
| &nbsp;&nbsp;&nbsp;M&T Bank | 3340 | 614126 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan | 10551 | 1879661 |
| &nbsp;&nbsp;&nbsp;Mastercard, Cl A | 17717 | 9779607 |

---

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

*56*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Catholic Values ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;MetLife | 11989 | $956962 |
| &nbsp;&nbsp;&nbsp;Moody's | 3308 | 1588832 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 26039 | 4270396 |
| &nbsp;&nbsp;&nbsp;MSCI, Cl A | 1656 | 974639 |
| &nbsp;&nbsp;&nbsp;Nasdaq | 9729 | 831732 |
| &nbsp;&nbsp;&nbsp;Northern Trust | 4104 | 528062 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings \* | 20505 | 1420381 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group | 8452 | 1542913 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group | 4351 | 365658 |
| &nbsp;&nbsp;&nbsp;Progressive | 12582 | 2591892 |
| &nbsp;&nbsp;&nbsp;Prudential Financial | 7555 | 785720 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial | 3792 | 601677 |
| &nbsp;&nbsp;&nbsp;Regions Financial | 19152 | 463478 |
| &nbsp;&nbsp;&nbsp;Robinhood Markets, Cl A \* | 16611 | 2438163 |
| &nbsp;&nbsp;&nbsp;S&P Global | 6707 | 3267717 |
| &nbsp;&nbsp;&nbsp;State Street | 6089 | 704254 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | 7947 | 591098 |
| &nbsp;&nbsp;&nbsp;T Rowe Price Group | 4689 | 480763 |
| &nbsp;&nbsp;&nbsp;Travelers | 4832 | 1297972 |
| &nbsp;&nbsp;&nbsp;Truist Financial | 27675 | 1235135 |
| &nbsp;&nbsp;&nbsp;US Bancorp | 33401 | 1559159 |
| &nbsp;&nbsp;&nbsp;Visa, Cl A | 36459 | 12423040 |
| &nbsp;&nbsp;&nbsp;W R Berkley | 6431 | 458788 |
| &nbsp;&nbsp;&nbsp;Wells Fargo | 68757 | 5979796 |
| &nbsp;&nbsp;&nbsp;Willis Towers Watson PLC | 2093 | 655318 |
|  |  | 142072513 |
| Health Care — 8.7% |  |  |
| &nbsp;&nbsp;&nbsp;Align Technology \* | 3372 | 464931 |
| &nbsp;&nbsp;&nbsp;Amgen | 26933 | 8037615 |
| &nbsp;&nbsp;&nbsp;Baxter International | 25695 | 474587 |
| &nbsp;&nbsp;&nbsp;Biogen \* | 7334 | 1131416 |
| &nbsp;&nbsp;&nbsp;&nbsp;Boston Scientific \* | 74129 | 7466273 |
| &nbsp;&nbsp;&nbsp;Cardinal Health | 11946 | 2278938 |
| &nbsp;&nbsp;&nbsp;Cencora | 9699 | 3276419 |
| &nbsp;&nbsp;&nbsp;Cigna Group | 13353 | 3263607 |
| &nbsp;&nbsp;&nbsp;CVS Health | 63451 | 4958696 |
| &nbsp;&nbsp;&nbsp;DaVita \* | 1788 | 212808 |
| &nbsp;&nbsp;&nbsp;Dexcom \* | 19577 | 1139773 |

---

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

*57*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Catholic Values ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Edwards Lifesciences \* | 29371 | $2421639 |
| &nbsp;&nbsp;&nbsp;Elevance Health | 11265 | 3573258 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies | 22840 | 1711858 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences | 62075 | 7435964 |
| &nbsp;&nbsp;&nbsp;Henry Schein \* | 5156 | 325859 |
| &nbsp;&nbsp;&nbsp;Hologic \* | 11127 | 822397 |
| &nbsp;&nbsp;&nbsp;Humana | 6016 | 1673591 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories \* | 4002 | 2519299 |
| &nbsp;&nbsp;&nbsp;Incyte \* | 8206 | 767097 |
| &nbsp;&nbsp;&nbsp;Insulet \* | 3521 | 1102108 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical \* | 17933 | 9581243 |
| &nbsp;&nbsp;&nbsp;IQVIA Holdings \* | 8504 | 1840776 |
| &nbsp;&nbsp;&nbsp;Labcorp Holdings | 4157 | 1055712 |
| &nbsp;&nbsp;&nbsp;McKesson | 6222 | 5048158 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | 64099 | 5813779 |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International \* | 1029 | 1457362 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare \* | 2711 | 414946 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics | 5594 | 984264 |
| &nbsp;&nbsp;&nbsp;ResMed | 7324 | 1808149 |
| &nbsp;&nbsp;&nbsp;Solventum \* | 7373 | 509032 |
| &nbsp;&nbsp;&nbsp;STERIS PLC | 4927 | 1161294 |
| &nbsp;&nbsp;&nbsp;Stryker | 17213 | 6131959 |
| &nbsp;&nbsp;&nbsp;West Pharmaceutical Services | 3597 | 1014606 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings | 9910 | 996550 |
| &nbsp;&nbsp;&nbsp;Zoetis, Cl A | 22171 | 3194619 |
|  |  | 96070582 |
| Industrials — 8.2% |  |  |
| &nbsp;&nbsp;&nbsp;3M | 13073 | 2176655 |
| &nbsp;&nbsp;&nbsp;A O Smith | 2804 | 185036 |
| &nbsp;&nbsp;&nbsp;Allegion PLC | 2107 | 349277 |
| &nbsp;&nbsp;&nbsp;AMETEK | 5668 | 1145560 |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing | 9942 | 2587903 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise \* | 1926 | 1410275 |
| &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions | 2863 | 631005 |
| &nbsp;&nbsp;&nbsp;Builders FirstSource \* | 2692 | 312730 |
| &nbsp;&nbsp;&nbsp;Carrier Global | 19635 | 1168086 |
| &nbsp;&nbsp;&nbsp;Caterpillar | 11499 | 6637913 |
| &nbsp;&nbsp;&nbsp;CH Robinson Worldwide | 2878 | 443183 |

---

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

*58*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Catholic Values ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Cintas | 8407 | $1540751 |
| &nbsp;&nbsp;&nbsp;Copart \* | 21835 | 939123 |
| &nbsp;&nbsp;&nbsp;CSX | 45759 | 1648239 |
| &nbsp;&nbsp;&nbsp;Cummins | 3382 | 1480234 |
| &nbsp;&nbsp;&nbsp;Dayforce \* | 3919 | 269392 |
| &nbsp;&nbsp;&nbsp;Deere | 6182 | 2853797 |
| &nbsp;&nbsp;&nbsp;Delta Air Lines | 15920 | 913490 |
| &nbsp;&nbsp;&nbsp;Dover | 3366 | 610794 |
| &nbsp;&nbsp;&nbsp;Eaton PLC | 9555 | 3645806 |
| &nbsp;&nbsp;&nbsp;EMCOR Group | 1094 | 739303 |
| &nbsp;&nbsp;&nbsp;Emerson Electric | 13814 | 1928020 |
| &nbsp;&nbsp;&nbsp;Equifax | 3028 | 639211 |
| &nbsp;&nbsp;&nbsp;Expeditors International of Washington | 3331 | 406049 |
| &nbsp;&nbsp;&nbsp;Fastenal | 28169 | 1159154 |
| &nbsp;&nbsp;&nbsp;FedEx | 5327 | 1352099 |
| &nbsp;&nbsp;&nbsp;Fortive | 8304 | 418023 |
| &nbsp;&nbsp;&nbsp;GE Aerospace | 26029 | 8041660 |
| &nbsp;&nbsp;&nbsp;GE Vernova | 6681 | 3909320 |
| &nbsp;&nbsp;&nbsp;Generac Holdings \* | 1425 | 239429 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace | 9894 | 2037669 |
| &nbsp;&nbsp;&nbsp;Hubbell, Cl B | 1298 | 610060 |
| &nbsp;&nbsp;&nbsp;IDEX | 1847 | 316687 |
| &nbsp;&nbsp;&nbsp;Illinois Tool Works | 6511 | 1588163 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand | 8877 | 677581 |
| &nbsp;&nbsp;&nbsp;Jacobs Solutions | 2934 | 457147 |
| &nbsp;&nbsp;&nbsp;JB Hunt Transport Services | 1877 | 316950 |
| &nbsp;&nbsp;&nbsp;Johnson Controls International | 16062 | 1837332 |
| &nbsp;&nbsp;&nbsp;Lennox International | 780 | 393900 |
| &nbsp;&nbsp;&nbsp;Masco | 5138 | 332737 |
| &nbsp;&nbsp;&nbsp;Nordson | 1317 | 305478 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern | 5497 | 1557740 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line | 4539 | 637366 |
| &nbsp;&nbsp;&nbsp;Otis Worldwide | 9633 | 893557 |
| &nbsp;&nbsp;&nbsp;PACCAR | 12888 | 1268179 |
| &nbsp;&nbsp;&nbsp;Paychex | 7936 | 928750 |
| &nbsp;&nbsp;&nbsp;Paycom Software | 1215 | 227314 |
| &nbsp;&nbsp;&nbsp;Pentair PLC | 4023 | 427846 |
| &nbsp;&nbsp;&nbsp;Quanta Services | 3657 | 1642468 |
| &nbsp;&nbsp;&nbsp;Republic Services, Cl A | 4981 | 1037243 |

---

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

*59*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Catholic Values ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Rockwell Automation | 2752 | $1013727 |
| &nbsp;&nbsp;&nbsp;Rollins | 6899 | 397451 |
| &nbsp;&nbsp;&nbsp;Snap-On | 1280 | 429504 |
| &nbsp;&nbsp;&nbsp;Southwest Airlines | 12891 | 390597 |
| &nbsp;&nbsp;&nbsp;Stanley Black & Decker | 3763 | 254830 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC | 5461 | 2450078 |
| &nbsp;&nbsp;&nbsp;Uber Technologies \* | 51187 | 4939546 |
| &nbsp;&nbsp;&nbsp;Union Pacific | 14556 | 3207706 |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings \* | 7918 | 744609 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Cl B | 18066 | 1741924 |
| &nbsp;&nbsp;&nbsp;United Rentals | 1577 | 1373851 |
| &nbsp;&nbsp;&nbsp;Veralto | 6091 | 601060 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Cl A | 3418 | 747722 |
| &nbsp;&nbsp;&nbsp;Wabtec | 4196 | 857830 |
| &nbsp;&nbsp;&nbsp;Waste Management | 9096 | 1817108 |
| &nbsp;&nbsp;&nbsp;WW Grainger | 1078 | 1055362 |
| &nbsp;&nbsp;&nbsp;Xylem | 5974 | 901178 |
|  |  | 90199767 |
| Information Technology — 35.7% |  |  |
| &nbsp;&nbsp;&nbsp;Accenture PLC, Cl A | 12203 | 3051970 |
| &nbsp;&nbsp;&nbsp;Adobe \* | 8311 | 2828316 |
| &nbsp;&nbsp;&nbsp;Akamai Technologies \* | 2809 | 210956 |
| &nbsp;&nbsp;&nbsp;Amphenol, Cl A | 23921 | 3333152 |
| &nbsp;&nbsp;&nbsp;Analog Devices | 9723 | 2276446 |
| &nbsp;&nbsp;&nbsp;Apple | 290772 | 78616026 |
| &nbsp;&nbsp;&nbsp;Applied Materials | 15723 | 3665031 |
| &nbsp;&nbsp;&nbsp;AppLovin, Cl A \* | 5304 | 3380398 |
| &nbsp;&nbsp;&nbsp;Arista Networks \* | 20193 | 3184234 |
| &nbsp;&nbsp;&nbsp;Autodesk \* | 4184 | 1260807 |
| &nbsp;&nbsp;&nbsp;Broadcom | 92156 | 34063622 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems \* | 5331 | 1805556 |
| &nbsp;&nbsp;&nbsp;CDW | 2550 | 406394 |
| &nbsp;&nbsp;&nbsp;Cisco Systems | 77589 | 5672532 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions, Cl A | 9528 | 694401 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Cl A \* | 4878 | 2648803 |
| &nbsp;&nbsp;&nbsp;Datadog, Cl A \* | 6333 | 1031076 |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Cl C | 5940 | 962339 |
| &nbsp;&nbsp;&nbsp;EPAM Systems \* | 1073 | 175478 |

---

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

*60*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Catholic Values ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;F5 \* | 1117 | $282657 |
| &nbsp;&nbsp;&nbsp;Fair Isaac \* | 470 | 779979 |
| &nbsp;&nbsp;&nbsp;First Solar \* | 2101 | 560841 |
| &nbsp;&nbsp;&nbsp;Fortinet \* | 12761 | 1102933 |
| &nbsp;&nbsp;&nbsp;Gartner \* | 1473 | 365805 |
| &nbsp;&nbsp;&nbsp;Gen Digital | 10980 | 289433 |
| &nbsp;&nbsp;&nbsp;GoDaddy, Cl A \* | 2693 | 358519 |
| &nbsp;&nbsp;&nbsp;HP | 18403 | 509211 |
| &nbsp;&nbsp;&nbsp;Intel \* | 85759 | 3429502 |
| &nbsp;&nbsp;&nbsp;Intuit | 5462 | 3646158 |
| &nbsp;&nbsp;&nbsp;Jabil | 2090 | 461660 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies \* | 3372 | 616941 |
| &nbsp;&nbsp;&nbsp;KLA | 2583 | 3122175 |
| &nbsp;&nbsp;&nbsp;Lam Research | 24797 | 3904536 |
| &nbsp;&nbsp;&nbsp;Microchip Technology | 10574 | 660029 |
| &nbsp;&nbsp;&nbsp;Micron Technology | 21927 | 4906605 |
| &nbsp;&nbsp;&nbsp;Microsoft | 145640 | 75413848 |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems | 936 | 940680 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions | 3260 | 1325875 |
| &nbsp;&nbsp;&nbsp;NetApp | 3898 | 459107 |
| &nbsp;&nbsp;&nbsp;NVIDIA | 478077 | 96805812 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor \* | 7957 | 398487 |
| &nbsp;&nbsp;&nbsp;Oracle | 32470 | 8526947 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Cl A \* | 44560 | 8932943 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks \* | 13087 | 2882281 |
| &nbsp;&nbsp;&nbsp;PTC \* | 2347 | 465973 |
| &nbsp;&nbsp;&nbsp;QUALCOMM | 21116 | 3819884 |
| &nbsp;&nbsp;&nbsp;Roper Technologies | 2103 | 938254 |
| &nbsp;&nbsp;&nbsp;Salesforce | 18731 | 4877740 |
| &nbsp;&nbsp;&nbsp;Seagate Technology Holdings | 4167 | 1066252 |
| &nbsp;&nbsp;&nbsp;ServiceNow \* | 4072 | 3743308 |
| &nbsp;&nbsp;&nbsp;Skyworks Solutions | 2908 | 226010 |
| &nbsp;&nbsp;&nbsp;Super Micro Computer \* | 9822 | 510351 |
| &nbsp;&nbsp;&nbsp;Synopsys \* | 3620 | 1642828 |
| &nbsp;&nbsp;&nbsp;Teradyne | 3116 | 566364 |
| &nbsp;&nbsp;&nbsp;Texas Instruments | 17813 | 2876087 |
| &nbsp;&nbsp;&nbsp;Trimble \* | 4662 | 371795 |
| &nbsp;&nbsp;&nbsp;Tyler Technologies \* | 843 | 401487 |
| &nbsp;&nbsp;&nbsp;VeriSign | 1647 | 394951 |

---

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

*61*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Catholic Values ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;Western Digital | 6797 | $1020977 |
| &nbsp;&nbsp;&nbsp;Workday, Cl A \* | 4232 | 1015341 |
| &nbsp;&nbsp;&nbsp;Zebra Technologies, Cl A \* | 988 | 266019 |
|  |  | 394154122 |
| Materials — 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;Air Products & Chemicals | 4266 | 1034889 |
| &nbsp;&nbsp;&nbsp;Albemarle | 2261 | 222098 |
| &nbsp;&nbsp;&nbsp;Amcor PLC | 44296 | 349938 |
| &nbsp;&nbsp;&nbsp;Avery Dennison | 1498 | 261985 |
| &nbsp;&nbsp;&nbsp;Ball | 5229 | 245763 |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings | 3112 | 259198 |
| &nbsp;&nbsp;&nbsp;Corteva | 13007 | 799150 |
| &nbsp;&nbsp;&nbsp;Dow | 13620 | 324837 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours | 8045 | 656874 |
| &nbsp;&nbsp;&nbsp;Ecolab | 4894 | 1254822 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan | 27521 | 1147626 |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances | 4924 | 310064 |
| &nbsp;&nbsp;&nbsp;International Paper | 10144 | 391964 |
| &nbsp;&nbsp;&nbsp;Linde PLC | 9009 | 3768465 |
| &nbsp;&nbsp;&nbsp;LyondellBasell Industries, Cl A | 4890 | 226994 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials | 1154 | 707517 |
| &nbsp;&nbsp;&nbsp;Mosaic | 6098 | 167390 |
| &nbsp;&nbsp;&nbsp;Newmont | 21106 | 1708953 |
| &nbsp;&nbsp;&nbsp;Nucor | 4410 | 661721 |
| &nbsp;&nbsp;&nbsp;Packaging Corp of America | 1717 | 336120 |
| &nbsp;&nbsp;&nbsp;PPG Industries | 4310 | 421303 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams | 4447 | 1533948 |
| &nbsp;&nbsp;&nbsp;Smurfit WestRock PLC | 10032 | 370381 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics | 2658 | 416774 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials | 2529 | 732146 |
|  |  | 18310920 |
| Real Estate — 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;American Tower <sup>‡</sup> | 9742 | 1743623 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities <sup>‡</sup> | 2944 | 512020 |
| &nbsp;&nbsp;&nbsp;BXP <sup>‡</sup> | 3064 | 218126 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust <sup>‡</sup> | 2197 | 218558 |
| &nbsp;&nbsp;&nbsp;CBRE Group, Cl A \* | 6081 | 926927 |

---

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

*62*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Catholic Values ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Real Estate — continued |  |  |
| &nbsp;&nbsp;&nbsp;CoStar Group \* | 8782 | $604289 |
| &nbsp;&nbsp;&nbsp;Crown Castle <sup>‡</sup> | 9060 | 817393 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust <sup>‡</sup> | 6670 | 1136635 |
| &nbsp;&nbsp;&nbsp;Equinix <sup>‡</sup> | 2033 | 1719938 |
| &nbsp;&nbsp;&nbsp;Equity Residential <sup>‡</sup> | 7231 | 429811 |
| &nbsp;&nbsp;&nbsp;Essex Property Trust <sup>‡</sup> | 1330 | 334854 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage <sup>‡</sup> | 4416 | 589713 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust <sup>‡</sup> | 1633 | 157078 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts <sup>‡</sup> | 13304 | 213130 |
| &nbsp;&nbsp;&nbsp;Invitation Homes <sup>‡</sup> | 11734 | 330312 |
| &nbsp;&nbsp;&nbsp;Iron Mountain <sup>‡</sup> | 6145 | 632628 |
| &nbsp;&nbsp;&nbsp;Kimco Realty <sup>‡</sup> | 14090 | 291099 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartment Communities <sup>‡</sup> | 2416 | 309804 |
| &nbsp;&nbsp;&nbsp;ProLogis <sup>‡</sup> | 19310 | 2396178 |
| &nbsp;&nbsp;&nbsp;Public Storage <sup>‡</sup> | 3279 | 913398 |
| &nbsp;&nbsp;&nbsp;Realty Income <sup>‡</sup> | 18989 | 1100982 |
| &nbsp;&nbsp;&nbsp;Regency Centers <sup>‡</sup> | 3399 | 234361 |
| &nbsp;&nbsp;&nbsp;SBA Communications, Cl A <sup>‡</sup> | 2220 | 425086 |
| &nbsp;&nbsp;&nbsp;Simon Property Group <sup>‡</sup> | 6793 | 1193938 |
| &nbsp;&nbsp;&nbsp;UDR <sup>‡</sup> | 6273 | 211337 |
| &nbsp;&nbsp;&nbsp;Welltower <sup>‡</sup> | 13916 | 2519353 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser <sup>‡</sup> | 15012 | 345276 |
|  |  | 20525847 |
| Utilities — 2.4% |  |  |
| &nbsp;&nbsp;&nbsp;AES | 13574 | 188271 |
| &nbsp;&nbsp;&nbsp;Alliant Energy | 4898 | 327284 |
| &nbsp;&nbsp;&nbsp;Ameren | 5155 | 525913 |
| &nbsp;&nbsp;&nbsp;American Electric Power | 10195 | 1226051 |
| &nbsp;&nbsp;&nbsp;American Water Works | 3719 | 477631 |
| &nbsp;&nbsp;&nbsp;Atmos Energy | 3060 | 525463 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy | 12446 | 475935 |
| &nbsp;&nbsp;&nbsp;CMS Energy | 5706 | 419676 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison | 6875 | 669694 |
| &nbsp;&nbsp;&nbsp;Constellation Energy | 5955 | 2245035 |
| &nbsp;&nbsp;&nbsp;Dominion Energy | 16269 | 954828 |
| &nbsp;&nbsp;&nbsp;DTE Energy | 3957 | 536332 |
| &nbsp;&nbsp;&nbsp;Duke Energy | 14824 | 1842623 |
| &nbsp;&nbsp;&nbsp;Edison International | 7336 | 406268 |

---

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

*63*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Catholic Values ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Utilities — continued |  |  |
| &nbsp;&nbsp;&nbsp;Entergy | 8510 | $817726 |
| &nbsp;&nbsp;&nbsp;Evergy | 4387 | 336965 |
| &nbsp;&nbsp;&nbsp;Eversource Energy | 7074 | 522132 |
| &nbsp;&nbsp;&nbsp;Exelon | 19254 | 887995 |
| &nbsp;&nbsp;&nbsp;FirstEnergy | 9906 | 453992 |
| &nbsp;&nbsp;&nbsp;NextEra Energy | 39258 | 3195601 |
| &nbsp;&nbsp;&nbsp;NiSource | 8976 | 377979 |
| &nbsp;&nbsp;&nbsp;NRG Energy | 3687 | 633648 |
| &nbsp;&nbsp;&nbsp;PG&E | 41899 | 668708 |
| &nbsp;&nbsp;&nbsp;Pinnacle West Capital | 2276 | 201472 |
| &nbsp;&nbsp;&nbsp;PPL | 14098 | 514859 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group | 9514 | 766448 |
| &nbsp;&nbsp;&nbsp;Sempra | 12438 | 1143550 |
| &nbsp;&nbsp;&nbsp;Southern | 20971 | 1972113 |
| &nbsp;&nbsp;&nbsp;Vistra | 6058 | 1140721 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group | 6136 | 685575 |
| &nbsp;&nbsp;&nbsp;Xcel Energy | 11274 | 915111 |
|  |  | 26055599 |
| TOTAL UNITED STATES |  | 1100854532 |
| TOTAL COMMON STOCK <br> (Cost $732,090,633) |  | 1103314807 |
| TOTAL INVESTMENTS — 99.9% <br> (Cost $732,090,633) |  | $1103314807 |

---

*Percentages are based on Net Assets of $1,104,163,816.*

\* Non-income producing security. <br> ‡ Real Estate Investment Trust

*As of October 31, 2025, 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.*

*See "Glossary" for abbreviations.*

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

*64*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X MSCI SuperDividend<sup>®</sup> EAFE ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 99.3%** | | |
| **AUSTRALIA — 4.7%** | | |
| Materials — 2.5% |  |  |
| &nbsp;&nbsp;&nbsp;Fortescue | 61969 | $863695 |
| Utilities — 2.2% |  |  |
| &nbsp;&nbsp;&nbsp;APA Group | 122285 | 734896 |
| TOTAL AUSTRALIA |  | 1598591 |
| **AUSTRIA — 1.9%** |  |  |
| Energy — 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;OMV | 11765 | 644468 |
| **BELGIUM — 1.9%** |  |  |
| Financials — 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;Ageas | 9835 | 651580 |
| **CHINA — 2.2%** |  |  |
| Industrials — 2.2% |  |  |
| &nbsp;&nbsp;&nbsp;SITC International Holdings | 206300 | 759670 |
| **FRANCE — 15.3%** |  |  |
| Communication Services — 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;Orange | 42941 | 685698 |
| Consumer Discretionary — 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;FDJ United | 19939 | 581784 |
| Consumer Staples — 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;Carrefour | 43855 | 660558 |
| Financials — 3.5% |  |  |
| &nbsp;&nbsp;&nbsp;AXA | 13565 | 589163 |
| &nbsp;&nbsp;&nbsp;Credit Agricole | 31981 | 577312 |
|  |  | 1166475 |
| Real Estate — 4.0% |  |  |
| &nbsp;&nbsp;&nbsp;Covivio <sup>‡</sup> | 11256 | 722338 |

---

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

*65*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X MSCI SuperDividend<sup>®</sup> EAFE ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** | | |
| Real Estate — continued |  |  |
| &nbsp;&nbsp;&nbsp;Klepierre <sup>‡</sup> | 16659 | $637211 |
|  |  | 1359549 |
| Utilities — 2.1% |  |  |
| &nbsp;&nbsp;&nbsp;Engie | 29998 | 702862 |
| TOTAL FRANCE |  | 5156926 |
| **HONG KONG — 14.3%** |  |  |
| Communication Services — 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;HKT Trust & HKT | 452320 | 659374 |
| Consumer Staples — 2.1% |  |  |
| &nbsp;&nbsp;&nbsp;WH Group | 732000 | 702596 |
| Real Estate — 6.7% |  |  |
| &nbsp;&nbsp;&nbsp;Henderson Land Development | 206033 | 723164 |
| &nbsp;&nbsp;&nbsp;Hongkong Land Holdings | 123500 | 754585 |
| &nbsp;&nbsp;&nbsp;Sino Land | 619900 | 769671 |
|  |  | 2247420 |
| Utilities — 3.6% |  |  |
| &nbsp;&nbsp;&nbsp;CK Infrastructure Holdings | 95700 | 622428 |
| &nbsp;&nbsp;&nbsp;Power Assets Holdings | 95173 | 604429 |
|  |  | 1226857 |
| TOTAL HONG KONG |  | 4836247 |
| **ITALY — 10.9%** |  |  |
| Energy — 2.4% |  |  |
| &nbsp;&nbsp;&nbsp;Eni | 43448 | 799556 |
| Financials — 6.5% |  |  |
| &nbsp;&nbsp;&nbsp;Banco BPM | 56987 | 829087 |
| &nbsp;&nbsp;&nbsp;Generali | 16886 | 649986 |
| &nbsp;&nbsp;&nbsp;Poste Italiane | 30368 | 732211 |
|  |  | 2211284 |

---

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

*66*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X MSCI SuperDividend<sup>®</sup> EAFE ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** | | |
| Utilities — 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;Snam | 108822 | $671722 |
| TOTAL ITALY |  | 3682562 |
| **JAPAN — 5.4%** |  |  |
| Communication Services — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;SoftBank | 424666 | 602865 |
| Financials — 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;Japan Post Holdings | 69906 | 656383 |
| Industrials — 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;Mitsui OSK Lines | 18415 | 547830 |
| TOTAL JAPAN |  | 1807078 |
| **NETHERLANDS — 2.1%** |  |  |
| Financials — 2.1% |  |  |
| &nbsp;&nbsp;&nbsp;NN Group | 10272 | 704007 |
| **NORWAY — 7.7%** |  |  |
| Communication Services — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;Telenor | 41627 | 619656 |
| Energy — 4.1% |  |  |
| &nbsp;&nbsp;&nbsp;Aker BP | 27906 | 725168 |
| &nbsp;&nbsp;&nbsp;Equinor | 27120 | 648717 |
|  |  | 1373885 |
| Financials — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;DNB Bank | 23892 | 609996 |
| TOTAL NORWAY |  | 2603537 |
| **PORTUGAL — 2.4%** |  |  |
| Utilities — 2.4% |  |  |
| &nbsp;&nbsp;&nbsp;EDP | 161830 | 805041 |

---

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

*67*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X MSCI SuperDividend<sup>®</sup> EAFE ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** | | |
| **SPAIN — 9.2%** | | |
| Communication Services — 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;Telefonica | 124949 | $632677 |
| Energy — 2.6% |  |  |
| &nbsp;&nbsp;&nbsp;Repsol | 48295 | 884907 |
| Financials — 2.3% |  |  |
| &nbsp;&nbsp;&nbsp;CaixaBank | 73982 | 782344 |
| Industrials — 2.4% |  |  |
| &nbsp;&nbsp;&nbsp;ACS Actividades de Construccion y Servicios | 9620 | 790563 |
| TOTAL SPAIN |  | 3090491 |
| **SWEDEN — 3.6%** |  |  |
| Financials — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;Svenska Handelsbanken, Cl A | 46787 | 614626 |
| Industrials — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;Volvo, Cl B | 22228 | 613509 |
| TOTAL SWEDEN |  | 1228135 |
| **SWITZERLAND — 1.9%** |  |  |
| Financials — 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;Zurich Insurance Group | 911 | 634381 |
| **UNITED KINGDOM — 13.7%** |  |  |
| Communication Services — 1.4% |  |  |
| &nbsp;&nbsp;&nbsp;WPP PLC | 129308 | 488439 |
| Consumer Staples — 4.2% |  |  |
| &nbsp;&nbsp;&nbsp;British American Tobacco PLC | 14488 | 743130 |
| &nbsp;&nbsp;&nbsp;Imperial Brands PLC | 16888 | 671198 |
|  |  | 1414328 |
| Financials — 8.1% |  |  |
| &nbsp;&nbsp;&nbsp;Aviva PLC | 78873 | 692854 |
| &nbsp;&nbsp;&nbsp;Legal & General Group PLC | 197438 | 616864 |
| &nbsp;&nbsp;&nbsp;M&G PLC | 215989 | 747187 |

---

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

*68*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X MSCI SuperDividend<sup>®</sup> EAFE ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** | | |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Phoenix Group Holdings PLC | 77089 | $682652 |
|  |  | 2739557 |
| TOTAL UNITED KINGDOM |  | 4642324 |
| **UNITED STATES — 2.1%** |  |  |
| Industrials — 2.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;AP Moller - Maersk, Cl A | 340 | 702120 |
| TOTAL COMMON STOCK <br> (Cost $30,937,626) |  | 33547158 |
| TOTAL INVESTMENTS — 99.3% <br> (Cost $30,937,626) |  | $33547158 |

---

*Percentages are based on Net Assets of $33,779,750.*

&nbsp;&nbsp;&nbsp;&nbsp;‡ Real Estate Investment Trust

*As of October 31, 2025, 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.*

*See "Glossary" for abbreviations.*

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

*69*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X E-commerce ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 100.1%** |  |  |
| **AUSTRALIA — 1.6%** |  |  |
| Consumer Discretionary — 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;Temple & Webster Group \* | 35023 | $545912 |
| &nbsp;&nbsp;&nbsp;Web Travel Group <sup>\*(A)</sup> | 128728 | 352257 |
| TOTAL AUSTRALIA |  | 898169 |
| **BRAZIL — 3.9%** |  |  |
| Consumer Discretionary — 3.7% |  |  |
| &nbsp;&nbsp;&nbsp;MercadoLibre \* | 872 | 2029371 |
| Information Technology — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;VTEX, Cl A \* | 28351 | 127296 |
| TOTAL BRAZIL |  | 2156667 |
| **CANADA — 9.1%** |  |  |
| Industrials — 3.4% |  |  |
| &nbsp;&nbsp;&nbsp;RB Global | 19283 | 1913259 |
| Information Technology — 5.7% |  |  |
| &nbsp;&nbsp;&nbsp;Shopify, Cl A \* | 18105 | 3147736 |
| TOTAL CANADA |  | 5060995 |
| **CHINA — 29.3%** |  |  |
| Communication Services — 3.9% |  |  |
| &nbsp;&nbsp;&nbsp;NetEase ADR | 15606 | 2186400 |
| Consumer Discretionary — 22.5% |  |  |
| &nbsp;&nbsp;&nbsp;Alibaba Group Holding ADR <sup>(A)</sup> | 17821 | 3037233 |
| &nbsp;&nbsp;&nbsp;JD.com ADR | 64938 | 2145552 |
| &nbsp;&nbsp;&nbsp;PDD Holdings ADR \* | 19782 | 2667998 |
| &nbsp;&nbsp;&nbsp;Trip.com Group ADR | 33012 | 2332298 |
| &nbsp;&nbsp;&nbsp;Vipshop Holdings ADR | 133603 | 2336716 |
|  |  | 12519797 |
| Consumer Staples — 2.9% |  |  |
| &nbsp;&nbsp;&nbsp;Alibaba Health Information Technology <sup>\*(A)</sup> | 2167500 | 1617496 |
| TOTAL CHINA |  | 16323693 |

---

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

*70*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X E-commerce ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** | | |
| **GERMANY — 1.0%** | | |
| Consumer Discretionary — 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Jumia Technologies ADR \* | 51650 | $563502 |
| **ISRAEL — 3.0%** |  |  |
| Consumer Discretionary — 3.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Global-e Online \* | 45988 | 1675343 |
| **JAPAN — 5.1%** |  |  |
| Consumer Discretionary — 4.6% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Rakuten Group \* | 389618 | 2553110 |
| Information Technology — 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;AnyMind Group <sup>\*(A)</sup> | 41193 | 185302 |
| &nbsp;&nbsp;&nbsp;&nbsp;BASE \* | 57818 | 120849 |
|  |  | 306151 |
| TOTAL JAPAN |  | 2859261 |
| **POLAND — 3.6%** |  |  |
| Consumer Discretionary — 3.6% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Allegro.eu \* | 214724 | 2007582 |
| **SINGAPORE — 3.7%** |  |  |
| Consumer Discretionary — 3.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sea ADR \* | 13132 | 2051875 |
| **TURKEY — 0.6%** |  |  |
| Consumer Discretionary — 0.6% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;D-MARKET Elektronik Hizmetler ve Ticaret ADR \* | 136079 | 347001 |
| **UNITED STATES — 39.2%** |  |  |
| Communication Services — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Shutterstock | 10102 | 252853 |
| &nbsp;&nbsp;&nbsp;&nbsp;TripAdvisor <sup>\*(A)</sup> | 46900 | 753214 |
|  |  | 1006067 |

---

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

*71*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X E-commerce ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — 29.1% |  |  |
| &nbsp;&nbsp;&nbsp;Amazon.com \* | 9196 | $2245847 |
| &nbsp;&nbsp;&nbsp;Bed Bath & Beyond \* | 23906 | 184315 |
| &nbsp;&nbsp;&nbsp;Booking Holdings | 369 | 1873686 |
| &nbsp;&nbsp;&nbsp;Carvana, Cl A \* | 5958 | 1826366 |
| &nbsp;&nbsp;&nbsp;eBay | 26969 | 2192850 |
| &nbsp;&nbsp;&nbsp;Etsy \* | 37349 | 2315638 |
| &nbsp;&nbsp;&nbsp;Expedia Group | 11602 | 2552440 |
| &nbsp;&nbsp;&nbsp;GigaCloud Technology, Cl A <sup>\*(A)</sup> | 10587 | 296224 |
| &nbsp;&nbsp;&nbsp;Groupon, Cl A <sup>\*(A)</sup> | 8932 | 179801 |
| &nbsp;&nbsp;&nbsp;Torrid Holdings \* | 54477 | 68096 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma | 12727 | 2473365 |
|  |  | 16208628 |
| Financials — 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;LendingTree \* | 4613 | 295232 |
| Industrials — 1.5% |  |  |
| &nbsp;&nbsp;&nbsp;ACV Auctions, Cl A \* | 69252 | 628116 |
| &nbsp;&nbsp;&nbsp;Liquidity Services \* | 9945 | 238083 |
|  |  | 866199 |
| Information Technology — 3.2% |  |  |
| &nbsp;&nbsp;&nbsp;Commerce.Com \* | 31586 | 146243 |
| &nbsp;&nbsp;&nbsp;GoDaddy, Cl A \* | 12403 | 1651212 |
|  |  | 1797455 |
| Real Estate — 3.1% |  |  |
| &nbsp;&nbsp;&nbsp;CoStar Group \* | 24756 | 1703460 |
| TOTAL UNITED STATES |  | 21877041 |
| TOTAL COMMON STOCK <br> (Cost $54,709,813) |  | 55821129 |

---

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

*72*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X E-commerce ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Number of <br> Warrants** | **Value** |
| **WARRANTS — 0.0%** | | |
| **United States — 0.0%** | | |
| &nbsp;&nbsp;&nbsp;Bed Bath & Beyond, Expires 10/7/26 Strike Price $15.50\* | 2550 | $3035 |
| TOTAL WARRANTS <br> (Cost $–) |  | 3035 |
|  | **Face Amount** |  |
| **REPURCHASE AGREEMENTS<sup>(B)</sup> — 1.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Cantor Fitzgerald Securities <br> 4.200%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $141,049 (collateralized by various U.S. Government Obligations and U.S. Treasury Obligations, ranging in par value $71 - $26,798, 1.000% - 6.500%, 02/28/2027 - 02/01/2057, with a total market value of $143,080) | $141000 | 141000 |
| &nbsp;&nbsp;&nbsp;Citadel Securities LLC <br> 4.260%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $249,088 (collateralized by various U.S. Treasury Obligations, ranging in par value $14 - $23,125, 0.000% - 4.875%, 11/04/2025 - 08/15/2055, with a total market value of $253,726) | 249000 | 249000 |
| &nbsp;&nbsp;&nbsp;Daiwa Capital Markets America, Inc. <br> 4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $249,086 (collateralized by various U.S. Government Obligations and U.S. Treasury Obligations, ranging in par value $24 - $77,845, 1.500% - 7.500%, 06/30/2027 - 10/20/2055, with a total market value of $252,890) | 249000 | 249000 |

---

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

*73*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X E-commerce ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| **REPURCHASE AGREEMENTS<sup>(B)</sup> — continued** |  |  |
| &nbsp;&nbsp;&nbsp;Deutsche Bank Securities, Inc. <br> 3.950%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $58,027 (collateralized by various U.S. Treasury Obligations, ranging in par value $1,250 - $6,690, 1.125% - 6.750%, 02/15/2026 - 08/15/2055, with a total market value of $58,457) | $58008 | $58008 |
| &nbsp;&nbsp;&nbsp;HSBC Securities USA, Inc. <br> 4.150%, dated 10/31/2025, to be repurchased on 11/03/2025, repurchase price $249,086 (collateralized by various U.S. Government Obligations, ranging in par value $355 - $175,833, 1.550% - 7.000%, 01/01/2032 - 06/01/2055, with a total market value of $253,065) | 249000 | 249000 |
| TOTAL REPURCHASE AGREEMENTS <br> (Cost $946,008) |  | 946008 |
| TOTAL INVESTMENTS — 101.8% <br> (Cost $55,655,821) |  | $56770172 |

---

*Percentages are based on Net Assets of $55,754,665.*

\* Non-income producing security.

(A) This security or a partial position of this security is on loan at October 31, 2025. The total market value of securities on loan at October 31, 2025 was $1,244,341.

(B) These securities were purchased with cash collateral held from securities on loan. The total value of such securities as of October 31, 2025 was $946,008. The total value of non-cash collateral held from securities on loan as of October 31, 2025 was $360,549.

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

*74*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X E-commerce ETF</u>

*The following is a summary of the level of inputs used as of October 31, 2025, in valuing the Fund's investments carried at value:*

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Investments in Securities* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Common Stock* | $*55821129* | $*—* | $*—* | $*55821129* |
| &nbsp;&nbsp;&nbsp;*Warrants* | *3035* | *—* | *—* | *3035* |
| &nbsp;&nbsp;&nbsp;*Repurchase Agreements* | *—* | *946008* | *—* | *946008* |
| *Total Investments in Securities* | $*55824164* | $*946008* | $*—* | $*56770172* |

---

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

*See "Glossary" for abbreviations.*

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

*75*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P Catholic Values Developed ex-US ETF** | **Global X S&P Catholic Values Developed ex-US ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 99.3%** |  |  |
| **AUSTRALIA — 8.3%** |  |  |
| Communication Services — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;REA Group | 77 | $10742 |
| &nbsp;&nbsp;&nbsp;Telstra Group | 6159 | 19676 |
|  |  | 30418 |
| Consumer Discretionary — 0.6% |  |  |
| &nbsp;&nbsp;&nbsp;Aristocrat Leisure | 1107 | 45910 |
| &nbsp;&nbsp;&nbsp;Wesfarmers | 2021 | 111136 |
|  |  | 157046 |
| Consumer Staples — 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;Coles Group | 3558 | 51360 |
| &nbsp;&nbsp;&nbsp;Woolworths Group | 3243 | 60315 |
|  |  | 111675 |
| Energy — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;Santos | 5162 | 21323 |
| &nbsp;&nbsp;&nbsp;Woodside Energy Group | 3020 | 49031 |
|  |  | 70354 |
| Financials — 3.0% |  |  |
| &nbsp;&nbsp;&nbsp;ANZ Group Holdings | 4397 | 105497 |
| &nbsp;&nbsp;&nbsp;Commonwealth Bank of Australia | 2477 | 278327 |
| &nbsp;&nbsp;&nbsp;Insurance Australia Group | 3485 | 17932 |
| &nbsp;&nbsp;&nbsp;Macquarie Group | 520 | 74402 |
| &nbsp;&nbsp;&nbsp;National Australia Bank | 4517 | 128987 |
| &nbsp;&nbsp;&nbsp;QBE Insurance Group | 2230 | 28964 |
| &nbsp;&nbsp;&nbsp;Suncorp Group | 1600 | 20551 |
| &nbsp;&nbsp;&nbsp;Westpac Banking | 5041 | 127846 |
|  |  | 782506 |
| Health Care — 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;Cochlear | 430 | 80836 |
| &nbsp;&nbsp;&nbsp;Pro Medicus | 362 | 62471 |
| &nbsp;&nbsp;&nbsp;Sigma Healthcare | 37929 | 77222 |
|  |  | 220529 |
| Industrials — 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;Brambles | 2732 | 44462 |

---

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

*76*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P Catholic Values Developed ex-US ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Computershare | 1084 | $25952 |
| &nbsp;&nbsp;&nbsp;Transurban Group | 6209 | 58857 |
|  |  | 129271 |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;WiseTech Global | 339 | 15340 |
| Materials — 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;BHP Group | 7767 | 220929 |
| &nbsp;&nbsp;&nbsp;Fortescue | 2544 | 35457 |
| &nbsp;&nbsp;&nbsp;Glencore PLC | 14757 | 70662 |
| &nbsp;&nbsp;&nbsp;Northern Star Resources | 2188 | 35251 |
| &nbsp;&nbsp;&nbsp;Rio Tinto | 568 | 49407 |
| &nbsp;&nbsp;&nbsp;Rio Tinto PLC | 1631 | 117559 |
|  |  | 529265 |
| Real Estate — 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;Goodman Group <sup>‡</sup> | 3226 | 69756 |
| &nbsp;&nbsp;&nbsp;Scentre Group <sup>‡</sup> | 8267 | 22027 |
|  |  | 91783 |
| Utilities — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Origin Energy | 2885 | 23136 |
| TOTAL AUSTRALIA |  | 2161323 |
| **AUSTRIA — 0.3%** |  |  |
| Energy — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;OMV | 227 | 12435 |
| Financials — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Erste Group Bank | 474 | 49102 |
| &nbsp;&nbsp;&nbsp;Raiffeisen Bank International | 191 | 7129 |
|  |  | 56231 |
| Industrials — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Strabag | 29 | 2273 |

---

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

*77*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P Catholic Values Developed ex-US ETF** | **Global X S&P Catholic Values Developed ex-US ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Utilities — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Verbund | 140 | $10818 |
| TOTAL AUSTRIA |  | 81757 |
| **BELGIUM — 1.6%** |  |  |
| Consumer Staples — 0.6% |  |  |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev | 2623 | 160153 |
| Financials — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;KBC Group | 367 | 44159 |
| Health Care — 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;UCB | 794 | 203907 |
| TOTAL BELGIUM |  | 408219 |
| **BRAZIL — 0.0%** |  |  |
| Materials — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Yara International | 253 | 9233 |
| **CHINA — 0.8%** |  |  |
| Consumer Discretionary — 0.6% |  |  |
| &nbsp;&nbsp;&nbsp;Chow Tai Fook Jewellery Group | 4100 | 8029 |
| &nbsp;&nbsp;&nbsp;Prosus | 2373 | 164143 |
|  |  | 172172 |
| Consumer Staples — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Budweiser Brewing APAC | 4600 | 4664 |
| &nbsp;&nbsp;&nbsp;Wilmar International | 6912 | 16623 |
|  |  | 21287 |
| Financials — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;BOC Hong Kong Holdings | 5800 | 28492 |
| TOTAL CHINA |  | 221951 |
| **DENMARK — 0.9%** |  |  |
| Financials — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Danske Bank | 974 | 43555 |

---

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

*78*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P Catholic Values Developed ex-US ETF** | **Global X S&P Catholic Values Developed ex-US ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;Coloplast, Cl B | 787 | $71236 |
| Industrials — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;DSV | 397 | 84376 |
| Materials — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Novonesis, Cl B | 523 | 31301 |
| TOTAL DENMARK |  | 230468 |
| **FINLAND — 1.1%** |  |  |
| Consumer Discretionary — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Amer Sports \* | 276 | 8619 |
| Financials — 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;Nordea Bank Abp | 5114 | 87438 |
| &nbsp;&nbsp;&nbsp;Sampo, Cl A | 3733 | 41656 |
|  |  | 129094 |
| Industrials — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;Kone, Cl B | 779 | 52077 |
| &nbsp;&nbsp;&nbsp;Wartsila Abp | 969 | 31730 |
|  |  | 83807 |
| Information Technology — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Nokia | 8238 | 55757 |
| Utilities — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Fortum | 733 | 16362 |
| TOTAL FINLAND |  | 293639 |
| **FRANCE — 9.8%** |  |  |
| Consumer Discretionary — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;Christian Dior | 6 | 3930 |
| &nbsp;&nbsp;&nbsp;Hermes International SCA | 63 | 156264 |
| &nbsp;&nbsp;&nbsp;LVMH Moet Hennessy Louis Vuitton | 453 | 320038 |
|  |  | 480232 |

---

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

*79*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P Catholic Values Developed ex-US ETF** | **Global X S&P Catholic Values Developed ex-US ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Staples — 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;Danone | 1710 | $151342 |
| &nbsp;&nbsp;&nbsp;L'Oreal | 612 | 256166 |
|  |  | 407508 |
| Energy — 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;TotalEnergies | 3336 | 207730 |
| Financials — 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;AXA | 2528 | 109798 |
| &nbsp;&nbsp;&nbsp;BNP Paribas | 1499 | 116024 |
| &nbsp;&nbsp;&nbsp;Credit Agricole | 1648 | 29749 |
|  |  | 255571 |
| Health Care — 2.7% |  |  |
| &nbsp;&nbsp;&nbsp;EssilorLuxottica | 1924 | 704623 |
| Industrials — 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;Compagnie De Saint | 917 | 88969 |
| &nbsp;&nbsp;&nbsp;Vinci | 1000 | 133772 |
|  |  | 222741 |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Dassault Systemes | 1058 | 30077 |
| Materials — 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;Air Liquide | 889 | 172300 |
| Utilities — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;Engie | 2938 | 68838 |
| TOTAL FRANCE |  | 2549620 |
| **GERMANY — 9.0%** |  |  |
| Communication Services — 0.6% |  |  |
| &nbsp;&nbsp;&nbsp;Deutsche Telekom | 5394 | 167411 |
| Consumer Discretionary — 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;Bayerische Motoren Werke | 472 | 43975 |
| &nbsp;&nbsp;&nbsp;Mercedes-Benz Group | 1283 | 83238 |

---

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

*80*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P Catholic Values Developed ex-US ETF** | **Global X S&P Catholic Values Developed ex-US ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;Volkswagen | 55 | $5799 |
|  |  | 133012 |
| Financials — 2.3% |  |  |
| &nbsp;&nbsp;&nbsp;Allianz | 569 | 228677 |
| &nbsp;&nbsp;&nbsp;Commerzbank | 1538 | 55935 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank | 2874 | 102600 |
| &nbsp;&nbsp;&nbsp;Deutsche Boerse | 279 | 70684 |
| &nbsp;&nbsp;&nbsp;Hannover Rueck | 88 | 25129 |
| &nbsp;&nbsp;&nbsp;Muenchener Rueckversicherungs-Gesellschaft in Muenchen | 195 | 120727 |
|  |  | 603752 |
| Health Care — 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;Siemens Healthineers | 1926 | 107971 |
| Industrials — 2.6% |  |  |
| &nbsp;&nbsp;&nbsp;DHL Group | 1917 | 88062 |
| &nbsp;&nbsp;&nbsp;Siemens | 1477 | 418603 |
| &nbsp;&nbsp;&nbsp;Siemens Energy \* | 1340 | 165953 |
|  |  | 672618 |
| Information Technology — 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;Infineon Technologies | 2099 | 83146 |
| &nbsp;&nbsp;&nbsp;SAP | 1642 | 425377 |
|  |  | 508523 |
| Materials — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;BASF | 1364 | 67365 |
| Utilities — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;E.ON | 3717 | 69243 |
| TOTAL GERMANY |  | 2329895 |
| **HONG KONG — 1.8%** |  |  |
| Financials — 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;AIA Group | 15365 | 149158 |
| &nbsp;&nbsp;&nbsp;Futu Holdings ADR | 87 | 17316 |
| &nbsp;&nbsp;&nbsp;Hang Seng Bank | 1012 | 19740 |

---

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

*81*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P Catholic Values Developed ex-US ETF** | **Global X S&P Catholic Values Developed ex-US ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Hong Kong Exchanges & Clearing | 1614 | $87966 |
| &nbsp;&nbsp;&nbsp;Prudential PLC | 3798 | 52645 |
|  |  | 326825 |
| Industrials — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;MTR | 2800 | 10267 |
| &nbsp;&nbsp;&nbsp;Techtronic Industries | 2883 | 33681 |
|  |  | 43948 |
| Real Estate — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;CK Asset Holdings | 2500 | 12365 |
| &nbsp;&nbsp;&nbsp;Henderson Land Development | 2550 | 8950 |
| &nbsp;&nbsp;&nbsp;Sun Hung Kai Properties | 2040 | 24791 |
|  |  | 46106 |
| Utilities — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;CK Infrastructure Holdings | 750 | 4878 |
| &nbsp;&nbsp;&nbsp;CLP Holdings | 2266 | 19330 |
| &nbsp;&nbsp;&nbsp;Hong Kong & China Gas | 18010 | 16753 |
| &nbsp;&nbsp;&nbsp;Power Assets Holdings | 1900 | 12067 |
|  |  | 53028 |
| TOTAL HONG KONG |  | 469907 |
| **INDONESIA — 0.1%** |  |  |
| Industrials — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Jardine Matheson Holdings | 450 | 26437 |
| **IRELAND — 0.2%** |  |  |
| Financials — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;AIB Group PLC | 3153 | 29059 |
| Industrials — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Kingspan Group PLC | 304 | 22772 |
| TOTAL IRELAND |  | 51831 |

---

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

*82*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P Catholic Values Developed ex-US ETF** | **Global X S&P Catholic Values Developed ex-US ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| **ISRAEL — 1.0%** |  |  |
| Communication Services — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Bezeq The Israeli Telecommunication | 3676 | $7536 |
| Consumer Discretionary — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Global-e Online \* | 195 | 7104 |
| Financials — 0.6% |  |  |
| &nbsp;&nbsp;&nbsp;Bank Hapoalim | 1922 | 39158 |
| &nbsp;&nbsp;&nbsp;Bank Leumi Le-Israel | 2186 | 44557 |
| &nbsp;&nbsp;&nbsp;First International Bank of Israel | 71 | 5127 |
| &nbsp;&nbsp;&nbsp;Harel Insurance Investments & Financial Services | 154 | 5395 |
| &nbsp;&nbsp;&nbsp;Israel Discount Bank, Cl A | 1772 | 17773 |
| &nbsp;&nbsp;&nbsp;Menora Mivtachim Holdings | 25 | 2505 |
| &nbsp;&nbsp;&nbsp;Mizrahi Tefahot Bank | 219 | 14281 |
| &nbsp;&nbsp;&nbsp;Phoenix Financial | 329 | 12698 |
|  |  | 141494 |
| Information Technology — 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;Camtek \* | 48 | 5955 |
| &nbsp;&nbsp;&nbsp;Check Point Software Technologies \* | 134 | 26221 |
| &nbsp;&nbsp;&nbsp;Nice \* | 99 | 13435 |
| &nbsp;&nbsp;&nbsp;Nova \* | 49 | 16989 |
| &nbsp;&nbsp;&nbsp;Tower Semiconductor \* | 178 | 14730 |
| &nbsp;&nbsp;&nbsp;Wix.com \* | 87 | 12662 |
|  |  | 89992 |
| Real Estate — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Azrieli Group | 63 | 6654 |
| &nbsp;&nbsp;&nbsp;Melisron | 38 | 4953 |
|  |  | 11607 |
| TOTAL ISRAEL |  | 257733 |
| **ITALY — 2.8%** |  |  |
| Consumer Discretionary — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;Ferrari | 216 | 86385 |

---

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

*83*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P Catholic Values Developed ex-US ETF** | **Global X S&P Catholic Values Developed ex-US ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Energy — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Eni | 3303 | $60784 |
| Financials — 1.5% |  |  |
| &nbsp;&nbsp;&nbsp;Generali | 1553 | 59779 |
| &nbsp;&nbsp;&nbsp;Intesa Sanpaolo | 23099 | 148661 |
| &nbsp;&nbsp;&nbsp;Poste Italiane | 677 | 16323 |
| &nbsp;&nbsp;&nbsp;UniCredit | 2300 | 169978 |
|  |  | 394741 |
| Industrials — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;Prysmian | 589 | 61062 |
| Utilities — 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;Enel | 12933 | 130942 |
| TOTAL ITALY |  | 733914 |
| **JAPAN — 26.3%** |  |  |
| Communication Services — 2.6% |  |  |
| &nbsp;&nbsp;&nbsp;Capcom | 521 | 13643 |
| &nbsp;&nbsp;&nbsp;KDDI | 4417 | 70575 |
| &nbsp;&nbsp;&nbsp;Konami Group | 151 | 25230 |
| &nbsp;&nbsp;&nbsp;LY | 3911 | 11500 |
| &nbsp;&nbsp;&nbsp;Nexon | 639 | 13066 |
| &nbsp;&nbsp;&nbsp;Nintendo | 1815 | 153690 |
| &nbsp;&nbsp;&nbsp;NTT | 46287 | 47592 |
| &nbsp;&nbsp;&nbsp;SoftBank | 44269 | 62845 |
| &nbsp;&nbsp;&nbsp;SoftBank Group | 1619 | 284432 |
|  |  | 682573 |
| Consumer Discretionary — 4.6% |  |  |
| &nbsp;&nbsp;&nbsp;Aisin | 1017 | 18316 |
| &nbsp;&nbsp;&nbsp;Asics | 1326 | 33939 |
| &nbsp;&nbsp;&nbsp;Bandai Namco Holdings | 1172 | 36532 |
| &nbsp;&nbsp;&nbsp;Bridgestone | 1051 | 46146 |
| &nbsp;&nbsp;&nbsp;Denso | 3533 | 49571 |
| &nbsp;&nbsp;&nbsp;Fast Retailing | 367 | 134979 |
| &nbsp;&nbsp;&nbsp;Honda Motor | 7318 | 74104 |
| &nbsp;&nbsp;&nbsp;Isuzu Motors | 926 | 11391 |
| &nbsp;&nbsp;&nbsp;Nitori Holdings | 737 | 11960 |

---

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

*84*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P Catholic Values Developed ex-US ETF** | **Global X S&P Catholic Values Developed ex-US ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;Oriental Land | 2203 | $44616 |
| &nbsp;&nbsp;&nbsp;Pan Pacific International Holdings | 4639 | 27637 |
| &nbsp;&nbsp;&nbsp;Panasonic Holdings | 4331 | 50562 |
| &nbsp;&nbsp;&nbsp;Rakuten Group \* | 2627 | 17214 |
| &nbsp;&nbsp;&nbsp;Ryohin Keikaku | 898 | 18472 |
| &nbsp;&nbsp;&nbsp;Sanrio | 335 | 15563 |
| &nbsp;&nbsp;&nbsp;Sekisui House | 1183 | 25425 |
| &nbsp;&nbsp;&nbsp;Shimano | 140 | 14727 |
| &nbsp;&nbsp;&nbsp;Subaru | 1059 | 22568 |
| &nbsp;&nbsp;&nbsp;Sumitomo Electric Industries | 1393 | 51089 |
| &nbsp;&nbsp;&nbsp;Suzuki Motor | 3529 | 52870 |
| &nbsp;&nbsp;&nbsp;Toyota Motor | 21084 | 429467 |
|  |  | 1187148 |
| Consumer Staples — 1.4% |  |  |
| &nbsp;&nbsp;&nbsp;Aeon | 7363 | 116595 |
| &nbsp;&nbsp;&nbsp;Asahi Group Holdings | 3963 | 42729 |
| &nbsp;&nbsp;&nbsp;Kao | 1228 | 51972 |
| &nbsp;&nbsp;&nbsp;Kirin Holdings | 2144 | 30124 |
| &nbsp;&nbsp;&nbsp;Seven & i Holdings | 6363 | 81203 |
| &nbsp;&nbsp;&nbsp;Suntory Beverage & Food | 345 | 10440 |
| &nbsp;&nbsp;&nbsp;Unicharm | 3387 | 20963 |
|  |  | 354026 |
| Energy — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;ENEOS Holdings | 4272 | 26976 |
| &nbsp;&nbsp;&nbsp;Inpex | 1536 | 28326 |
|  |  | 55302 |
| Financials — 4.0% |  |  |
| &nbsp;&nbsp;&nbsp;Dai-ichi Life Holdings | 5509 | 38800 |
| &nbsp;&nbsp;&nbsp;Daiwa Securities Group | 2103 | 16238 |
| &nbsp;&nbsp;&nbsp;Japan Exchange Group | 1572 | 17648 |
| &nbsp;&nbsp;&nbsp;Japan Post Bank | 2721 | 30521 |
| &nbsp;&nbsp;&nbsp;Mitsubishi HC Capital | 1516 | 11868 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group | 17861 | 270138 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group | 3721 | 124367 |
| &nbsp;&nbsp;&nbsp;MS&AD Insurance Group Holdings | 2006 | 41486 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings | 4377 | 31310 |

---

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

*85*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P Catholic Values Developed ex-US ETF** | **Global X S&P Catholic Values Developed ex-US ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;ORIX | 1796 | $43835 |
| &nbsp;&nbsp;&nbsp;Resona Holdings | 3395 | 32913 |
| &nbsp;&nbsp;&nbsp;SBI Holdings | 342 | 15349 |
| &nbsp;&nbsp;&nbsp;Sompo Holdings | 1413 | 43182 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group | 5728 | 154787 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Trust Holdings | 1108 | 30430 |
| &nbsp;&nbsp;&nbsp;T&D Holdings | 797 | 17181 |
| &nbsp;&nbsp;&nbsp;Tokio Marine Holdings | 2912 | 109293 |
|  |  | 1029346 |
| Health Care — 3.0% |  |  |
| &nbsp;&nbsp;&nbsp;Hoya | 2297 | 374024 |
| &nbsp;&nbsp;&nbsp;Kyowa Kirin | 1583 | 24476 |
| &nbsp;&nbsp;&nbsp;Olympus | 7512 | 92623 |
| &nbsp;&nbsp;&nbsp;Otsuka Holdings | 3489 | 189652 |
| &nbsp;&nbsp;&nbsp;Shionogi | 5323 | 89146 |
|  |  | 769921 |
| Industrials — 5.3% |  |  |
| &nbsp;&nbsp;&nbsp;Central Japan Railway | 1972 | 48207 |
| &nbsp;&nbsp;&nbsp;East Japan Railway | 2274 | 55442 |
| &nbsp;&nbsp;&nbsp;FANUC | 1866 | 59461 |
| &nbsp;&nbsp;&nbsp;Fujikura | 556 | 76405 |
| &nbsp;&nbsp;&nbsp;IHI | 2117 | 44180 |
| &nbsp;&nbsp;&nbsp;ITOCHU | 2895 | 167831 |
| &nbsp;&nbsp;&nbsp;Kajima | 911 | 29425 |
| &nbsp;&nbsp;&nbsp;Kawasaki Kisen Kaisha | 1336 | 19192 |
| &nbsp;&nbsp;&nbsp;Komatsu | 1957 | 65625 |
| &nbsp;&nbsp;&nbsp;Kubota | 2062 | 26776 |
| &nbsp;&nbsp;&nbsp;Marubeni | 3350 | 82633 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Electric | 4228 | 118479 |
| &nbsp;&nbsp;&nbsp;Mitsui | 5860 | 144622 |
| &nbsp;&nbsp;&nbsp;Mitsui OSK Lines | 764 | 22728 |
| &nbsp;&nbsp;&nbsp;NIDEC CORP | 2188 | 26744 |
| &nbsp;&nbsp;&nbsp;Nippon Yusen | 908 | 31421 |
| &nbsp;&nbsp;&nbsp;Obayashi | 1333 | 22601 |
| &nbsp;&nbsp;&nbsp;Recruit Holdings | 3129 | 156557 |
| &nbsp;&nbsp;&nbsp;Secom | 872 | 29507 |
| &nbsp;&nbsp;&nbsp;SMC | 130 | 44361 |

---

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

*86*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P Catholic Values Developed ex-US ETF** | **Global X S&P Catholic Values Developed ex-US ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Sumitomo | 2478 | $72158 |
| &nbsp;&nbsp;&nbsp;Toyota Industries | 407 | 44450 |
|  |  | 1388805 |
| Information Technology — 3.7% |  |  |
| &nbsp;&nbsp;&nbsp;Advantest | 1227 | 184263 |
| &nbsp;&nbsp;&nbsp;Canon | 1511 | 43480 |
| &nbsp;&nbsp;&nbsp;Disco | 147 | 49247 |
| &nbsp;&nbsp;&nbsp;Fujitsu | 2758 | 72166 |
| &nbsp;&nbsp;&nbsp;Keyence | 318 | 118423 |
| &nbsp;&nbsp;&nbsp;Kyocera | 2204 | 29328 |
| &nbsp;&nbsp;&nbsp;Lasertec | 134 | 24712 |
| &nbsp;&nbsp;&nbsp;Murata Manufacturing | 2938 | 64689 |
| &nbsp;&nbsp;&nbsp;NEC | 2168 | 79062 |
| &nbsp;&nbsp;&nbsp;Nomura Research Institute | 724 | 28339 |
| &nbsp;&nbsp;&nbsp;Obic | 510 | 15847 |
| &nbsp;&nbsp;&nbsp;Oracle Japan | 60 | 5542 |
| &nbsp;&nbsp;&nbsp;Renesas Electronics | 2952 | 36619 |
| &nbsp;&nbsp;&nbsp;TDK | 3104 | 53857 |
| &nbsp;&nbsp;&nbsp;Tokyo Electron | 751 | 166623 |
|  |  | 972197 |
| Materials — 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;Asahi Kasei | 2127 | 16326 |
| &nbsp;&nbsp;&nbsp;Nippon Paint Holdings | 1675 | 10682 |
| &nbsp;&nbsp;&nbsp;Nippon Sanso Holdings | 347 | 11551 |
| &nbsp;&nbsp;&nbsp;Nippon Steel | 8477 | 35013 |
| &nbsp;&nbsp;&nbsp;Nitto Denko | 1123 | 28094 |
| &nbsp;&nbsp;&nbsp;Shin-Etsu Chemical | 3131 | 94608 |
|  |  | 196274 |
| Real Estate — 0.6% |  |  |
| &nbsp;&nbsp;&nbsp;Daiwa House Industry | 964 | 32746 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Estate | 2009 | 42565 |
| &nbsp;&nbsp;&nbsp;Mitsui Fudosan | 4412 | 45866 |
| &nbsp;&nbsp;&nbsp;Sumitomo Realty & Development | 717 | 30629 |
|  |  | 151806 |

---

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

*87*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P Catholic Values Developed ex-US ETF** | **Global X S&P Catholic Values Developed ex-US ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Utilities — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Osaka Gas | 663 | $20864 |
| &nbsp;&nbsp;&nbsp;Tokyo Gas | 552 | 19356 |
|  |  | 40220 |
| TOTAL JAPAN |  | 6827618 |
| **NETHERLANDS — 5.6%** |  |  |
| Communication Services — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Universal Music Group | 1617 | 43430 |
| Consumer Staples — 0.6% |  |  |
| &nbsp;&nbsp;&nbsp;Heineken | 731 | 56563 |
| &nbsp;&nbsp;&nbsp;Koninklijke Ahold Delhaize | 2421 | 99226 |
|  |  | 155789 |
| Financials — 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;Adyen \* | 49 | 84189 |
| &nbsp;&nbsp;&nbsp;ING Groep | 4364 | 109402 |
|  |  | 193591 |
| Health Care — 1.3% |  |  |
| &nbsp;&nbsp;&nbsp;Argenx \* | 405 | 329834 |
| Industrials — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Wolters Kluwer | 479 | 58742 |
| Information Technology — 2.6% |  |  |
| &nbsp;&nbsp;&nbsp;ASML Holding | 635 | 672892 |
| TOTAL NETHERLANDS |  | 1454278 |
| **NEW ZEALAND — 0.5%** |  |  |
| Financials — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Infratil | 1442 | 10206 |
| Health Care — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;Fisher & Paykel Healthcare | 3856 | 81922 |
| Industrials — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Auckland International Airport | 3373 | 15684 |

---

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

*88*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P Catholic Values Developed ex-US ETF** | **Global X S&P Catholic Values Developed ex-US ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Xero \* | 267 | $25345 |
| Utilities — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Mercury NZ | 1151 | 4271 |
| &nbsp;&nbsp;&nbsp;Meridian Energy | 2142 | 7262 |
|  |  | 11533 |
| TOTAL NEW ZEALAND |  | 144690 |
| **NORWAY — 0.7%** |  |  |
| Communication Services — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Telenor | 975 | 14514 |
| &nbsp;&nbsp;&nbsp;Vend Marketplaces, Cl B | 297 | 10245 |
|  |  | 24759 |
| Consumer Staples — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Mowi | 1171 | 25765 |
| &nbsp;&nbsp;&nbsp;Orkla | 1995 | 20252 |
|  |  | 46017 |
| Energy — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Aker BP | 483 | 12551 |
| &nbsp;&nbsp;&nbsp;Equinor | 1341 | 32077 |
| &nbsp;&nbsp;&nbsp;Var Energi | 1469 | 4949 |
|  |  | 49577 |
| Financials — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;DNB Bank | 1245 | 31787 |
| &nbsp;&nbsp;&nbsp;Gjensidige Forsikring | 280 | 7544 |
|  |  | 39331 |
| Industrials — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Kongsberg Gruppen | 875 | 22405 |
| Materials — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Norsk Hydro | 2020 | 13685 |
| TOTAL NORWAY |  | 195774 |

---

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

*89*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P Catholic Values Developed ex-US ETF** | **Global X S&P Catholic Values Developed ex-US ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| **PORTUGAL — 0.2%** |  |  |
| Consumer Staples — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Jeronimo Martins | 732 | $18875 |
| Energy — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Galp Energia | 660 | 13251 |
| Utilities — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;EDP | 5040 | 25072 |
| TOTAL PORTUGAL |  | 57198 |
| **SINGAPORE — 1.9%** |  |  |
| Communication Services — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Singapore Telecommunications | 11290 | 36868 |
| Consumer Discretionary — 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;Sea ADR \* | 658 | 102813 |
| Financials — 0.9% |  |  |
| &nbsp;&nbsp;&nbsp;DBS Group Holdings | 2768 | 114701 |
| &nbsp;&nbsp;&nbsp;Oversea-Chinese Banking | 5879 | 76929 |
| &nbsp;&nbsp;&nbsp;United Overseas Bank | 1959 | 52187 |
|  |  | 243817 |
| Industrials — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;Grab Holdings, Cl A \* | 5680 | 34137 |
| &nbsp;&nbsp;&nbsp;Singapore Airlines | 2463 | 12547 |
| &nbsp;&nbsp;&nbsp;Singapore Technologies Engineering | 2728 | 17796 |
|  |  | 64480 |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;STMicroelectronics | 1041 | 25635 |
| Real Estate — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;CapitaLand Integrated Commercial Trust <sup>‡</sup> | 8961 | 16318 |
| TOTAL SINGAPORE |  | 489931 |

---

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

*90*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P Catholic Values Developed ex-US ETF** | **Global X S&P Catholic Values Developed ex-US ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| **SOUTH AFRICA — 0.3%** |  |  |
| Materials — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;Anglo American PLC | 1806 | $68218 |
| **SPAIN — 3.4%** |  |  |
| Consumer Discretionary — 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;Amadeus IT Group | 798 | 61084 |
| &nbsp;&nbsp;&nbsp;Industria de Diseno Textil | 1994 | 110241 |
|  |  | 171325 |
| Financials — 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;Banco Bilbao Vizcaya Argentaria | 8496 | 170969 |
| &nbsp;&nbsp;&nbsp;Banco Santander | 21949 | 223594 |
| &nbsp;&nbsp;&nbsp;CaixaBank | 5642 | 59663 |
|  |  | 454226 |
| Industrials — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Aena SME | 1469 | 39930 |
| Utilities — 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;Iberdrola | 10291 | 208635 |
| TOTAL SPAIN |  | 874116 |
| **SWEDEN — 3.4%** |  |  |
| Consumer Discretionary — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;H & M Hennes & Mauritz, Cl B | 853 | 16202 |
| Consumer Staples — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Essity, Cl B | 1565 | 43014 |
| Financials — 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;EQT | 548 | 19028 |
| &nbsp;&nbsp;&nbsp;Industrivarden, Cl A | 201 | 8381 |
| &nbsp;&nbsp;&nbsp;Industrivarden, Cl C | 228 | 9492 |
| &nbsp;&nbsp;&nbsp;Investor, Cl B | 2685 | 88689 |
| &nbsp;&nbsp;&nbsp;L E Lundbergforetagen, Cl B | 111 | 5952 |
| &nbsp;&nbsp;&nbsp;Skandinaviska Enskilda Banken, Cl A | 2235 | 42710 |
| &nbsp;&nbsp;&nbsp;Skandinaviska Enskilda Banken, Cl C | 26 | 508 |
| &nbsp;&nbsp;&nbsp;Svenska Handelsbanken, Cl A | 2291 | 30096 |

---

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

*91*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P Catholic Values Developed ex-US ETF** | **Global X S&P Catholic Values Developed ex-US ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Svenska Handelsbanken, Cl B | 53 | $1166 |
| &nbsp;&nbsp;&nbsp;Swedbank, Cl A | 1335 | 40644 |
|  |  | 246666 |
| Industrials — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;Alfa Laval | 577 | 27596 |
| &nbsp;&nbsp;&nbsp;Assa Abloy, Cl B | 1981 | 74858 |
| &nbsp;&nbsp;&nbsp;Atlas Copco, Cl A | 5028 | 84829 |
| &nbsp;&nbsp;&nbsp;Atlas Copco, Cl B | 3117 | 46874 |
| &nbsp;&nbsp;&nbsp;Epiroc, Cl A | 1253 | 26558 |
| &nbsp;&nbsp;&nbsp;Epiroc, Cl B | 779 | 14608 |
| &nbsp;&nbsp;&nbsp;Investment Latour, Cl B | 284 | 7267 |
| &nbsp;&nbsp;&nbsp;Saab, Cl B | 628 | 34667 |
| &nbsp;&nbsp;&nbsp;Sandvik | 2129 | 64705 |
| &nbsp;&nbsp;&nbsp;Volvo, Cl A | 380 | 10464 |
| &nbsp;&nbsp;&nbsp;Volvo, Cl B | 3173 | 87577 |
|  |  | 480003 |
| Information Technology — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;Hexagon, Cl B | 3376 | 41451 |
| &nbsp;&nbsp;&nbsp;Telefonaktiebolaget LM Ericsson, Cl B | 4690 | 47332 |
|  |  | 88783 |
| TOTAL SWEDEN |  | 874668 |
| **SWITZERLAND — 3.4%** |  |  |
| Consumer Discretionary — 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;Cie Financiere Richemont, Cl A | 959 | 189590 |
| Financials — 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;UBS Group | 4480 | 171499 |
| &nbsp;&nbsp;&nbsp;Zurich Insurance Group | 216 | 150413 |
|  |  | 321912 |
| Industrials — 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;ABB | 3095 | 230019 |
| &nbsp;&nbsp;&nbsp;Schindler Holding | 44 | 14881 |
| &nbsp;&nbsp;&nbsp;Schindler Holding | 80 | 28502 |
|  |  | 273402 |

---

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

*92*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P Catholic Values Developed ex-US ETF** | **Global X S&P Catholic Values Developed ex-US ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Materials — 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;Givaudan | 11 | $45192 |
| &nbsp;&nbsp;&nbsp;Sika | 243 | 47586 |
|  |  | 92778 |
| TOTAL SWITZERLAND |  | 877682 |
| **UNITED KINGDOM — 8.1%** |  |  |
| Consumer Discretionary — 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;Compass Group PLC | 3021 | 100062 |
| Consumer Staples — 2.6% |  |  |
| &nbsp;&nbsp;&nbsp;Coca-Cola Europacific Partners PLC | 557 | 49478 |
| &nbsp;&nbsp;&nbsp;Diageo PLC | 5910 | 135885 |
| &nbsp;&nbsp;&nbsp;Tesco PLC | 17367 | 104825 |
| &nbsp;&nbsp;&nbsp;Unilever PLC | 6535 | 394013 |
|  |  | 684201 |
| Financials — 3.4% |  |  |
| &nbsp;&nbsp;&nbsp;3i Group PLC | 1433 | 82841 |
| &nbsp;&nbsp;&nbsp;Barclays PLC | 20767 | 111049 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC | 25710 | 359208 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group PLC | 88101 | 103112 |
| &nbsp;&nbsp;&nbsp;London Stock Exchange Group | 700 | 87242 |
| &nbsp;&nbsp;&nbsp;NatWest Group PLC | 11915 | 91423 |
| &nbsp;&nbsp;&nbsp;Standard Chartered PLC | 2797 | 57309 |
|  |  | 892184 |
| Industrials — 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;Ashtead Group PLC | 849 | 56599 |
| &nbsp;&nbsp;&nbsp;CK Hutchison Holdings | 5720 | 37902 |
| &nbsp;&nbsp;&nbsp;RELX PLC | 3663 | 161560 |
|  |  | 256061 |
| Information Technology — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;ARM Holdings PLC ADR \* | 220 | 37360 |
| Utilities — 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;National Grid PLC | 8308 | 124437 |
| TOTAL UNITED KINGDOM |  | 2094305 |

---

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

*93*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P Catholic Values Developed ex-US ETF** | **Global X S&P Catholic Values Developed ex-US ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| **UNITED STATES — 7.8%** |  |  |
| Communication Services — 0.6% |  |  |
| &nbsp;&nbsp;&nbsp;Spotify Technology \* | 240 | $157277 |
| Consumer Discretionary — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Stellantis | 3606 | 36534 |
| Energy — 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;BP PLC | 25149 | 146145 |
| &nbsp;&nbsp;&nbsp;Shell PLC | 9355 | 349989 |
|  |  | 496134 |
| Financials — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;Swiss Re | 438 | 79989 |
| Health Care — 2.4% |  |  |
| &nbsp;&nbsp;&nbsp;Alcon | 3294 | 245383 |
| &nbsp;&nbsp;&nbsp;CSL | 3195 | 373353 |
|  |  | 618736 |
| Industrials — 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;AP Moller - Maersk, Cl A | 5 | 10325 |
| &nbsp;&nbsp;&nbsp;AP Moller - Maersk, Cl B | 8 | 16514 |
| &nbsp;&nbsp;&nbsp;Experian PLC | 1834 | 85469 |
| &nbsp;&nbsp;&nbsp;Ferrovial | 970 | 59562 |
| &nbsp;&nbsp;&nbsp;Schneider Electric | 1083 | 307625 |
|  |  | 479495 |
| Information Technology — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;CyberArk Software \* | 79 | 41141 |
| &nbsp;&nbsp;&nbsp;JFrog \* | 160 | 7597 |
| &nbsp;&nbsp;&nbsp;Monday.com \* | 66 | 13546 |
|  |  | 62284 |
| Materials — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;Holcim | 772 | 68607 |

---

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

*94*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P Catholic Values Developed ex-US ETF** | **Global X S&P Catholic Values Developed ex-US ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Materials — continued |  |  |
| &nbsp;&nbsp;&nbsp;James Hardie Industries, CDI \* | 890 | $18767 |
|  |  | 87374 |
| TOTAL UNITED STATES |  | 2017823 |
| TOTAL COMMON STOCK<br> (Cost $23,277,105) |  | 25802228 |
| **PREFERRED STOCK — 0.2%** |  |  |
| **GERMANY— 0.2%** |  |  |
| Consumer Discretionary — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Bayerische Motoren Werke <sup>(A)</sup> | 95 | 8229 |
| &nbsp;&nbsp;&nbsp;Dr Ing hc F Porsche <sup>(A)</sup> | 196 | 10282 |
| &nbsp;&nbsp;&nbsp;Volkswagen <sup>(A)</sup> | 365 | 38008 |
| TOTAL GERMANY |  | 56519 |
| TOTAL PREFERRED STOCK <br> (Cost $74,620) |  | 56519 |
|  | **Number of<br> Rights** |  |
| **RIGHTS — 0.0%** |  |  |
| **Norway — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Vend Marketplaces <sup>\*(B)</sup> |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expires 11/09/2025 | 102 | 228 |
| TOTAL RIGHTS <br> (Cost $–) |  | 228 |
| TOTAL INVESTMENTS — 99.5%<br> (Cost $23,351,725) |  | $25858975 |

---

*Percentages are based on Net Assets of $25,977,123.*

---

| | |
|:---|:---|
| \* | Non-income producing security. |
| ‡ | Real Estate Investment Trust |
| (A) | There is currently no stated interest rate. |
| (B) | Level 3 security in accordance with fair value hierarchy. |

---

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

*95*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P Catholic Values Developed ex-US ETF** | **Global X S&P Catholic Values Developed ex-US ETF** |

---

*The following is a summary of the level of inputs used as of October 31, 2025, in valuing the Fund's investments carried at value:*

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Investments in Securities* | *Level 1* | *Level 2* | *Level 3<sup>(1)</sup>* | *Total* |
| &nbsp;&nbsp;&nbsp;*Common Stock* | $*25590483* | $*211745* | $*—* | $*25802228* |
| &nbsp;&nbsp;&nbsp;*Preferred Stock* | *56519* | *—* | *—* | *56519* |
| &nbsp;&nbsp;&nbsp;*Rights* | *—* | *—* | *228* | *228* |
| *Total Investments in Securities* | $*25647002* | $*211745* | $*228* | $*25858975* |

---

*(1) A reconciliation of Level 3 investments and disclosures of significant unobservable inputs are presented when the Fund has a significant amount of Level 3 investments at the end of the period in relation to Net Assets. Management has concluded that Level 3 investments are not material in relation to Net Assets.*

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

*See "Glossary" for abbreviations.*

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

*96*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Tail Risk ETF** | **Global X NASDAQ 100<sup>®</sup> Tail Risk ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 99.6%** |  |  |
| **BRAZIL — 0.6%** |  |  |
| Consumer Discretionary — 0.6% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;MercadoLibre \* | 9 | $20945 |
| **CANADA — 1.5%** |  |  |
| Industrials — 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Thomson Reuters | 77 | 11785 |
| Information Technology — 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Shopify, Cl A \* | 209 | 36337 |
| TOTAL CANADA |  | 48122 |
| **CHINA — 0.5%** |  |  |
| Consumer Discretionary — 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;PDD Holdings ADR \* | 114 | 15375 |
| **NETHERLANDS — 0.7%** |  |  |
| Information Technology — 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;ASML Holding | 14 | 14829 |
| &nbsp;&nbsp;&nbsp;&nbsp;NXP Semiconductors | 44 | 9202 |
| TOTAL NETHERLANDS |  | 24031 |
| **UNITED KINGDOM — 0.6%** |  |  |
| Consumer Staples — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Coca-Cola Europacific Partners PLC | 78 | 6929 |
| Health Care — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;AstraZeneca PLC ADR | 101 | 8322 |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;ARM Holdings PLC ADR \* | 24 | 4076 |
| TOTAL UNITED KINGDOM |  | 19327 |
| **UNITED STATES — 95.7%** |  |  |
| Communication Services — 14.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl A | 401 | 112757 |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl C | 375 | 105682 |
| &nbsp;&nbsp;&nbsp;&nbsp;Charter Communications, Cl A \* | 24 | 5612 |

---

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

*97*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Tail Risk ETF** | **Global X NASDAQ 100<sup>®</sup> Tail Risk ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Communication Services — continued |  |  |
| &nbsp;&nbsp;&nbsp;Comcast, Cl A | 623 | $17341 |
| &nbsp;&nbsp;&nbsp;Electronic Arts | 42 | 8403 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 150 | 97253 |
| &nbsp;&nbsp;&nbsp;Netflix \* | 72 | 80558 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software \* | 30 | 7691 |
| &nbsp;&nbsp;&nbsp;T-Mobile US | 191 | 40120 |
| &nbsp;&nbsp;&nbsp;Trade Desk, Cl A \* | 76 | 3821 |
| &nbsp;&nbsp;&nbsp;Warner Bros Discovery \* | 420 | 9429 |
|  |  | 488667 |
| Consumer Discretionary — 12.0% |  |  |
| &nbsp;&nbsp;&nbsp;Airbnb, Cl A \* | 73 | 9237 |
| &nbsp;&nbsp;&nbsp;Amazon.com \* | 736 | 179746 |
| &nbsp;&nbsp;&nbsp;Booking Holdings | 5 | 25389 |
| &nbsp;&nbsp;&nbsp;DoorDash, Cl A \* | 68 | 17297 |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica \* | 20 | 3411 |
| &nbsp;&nbsp;&nbsp;Marriott International, Cl A | 47 | 12247 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive \* | 145 | 13694 |
| &nbsp;&nbsp;&nbsp;Ross Stores | 57 | 9058 |
| &nbsp;&nbsp;&nbsp;Starbucks | 195 | 15770 |
| &nbsp;&nbsp;&nbsp;Tesla \* | 252 | 115053 |
|  |  | 400902 |
| Consumer Staples — 4.1% |  |  |
| &nbsp;&nbsp;&nbsp;Costco Wholesale | 75 | 68359 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper | 231 | 6274 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz | 199 | 4921 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Cl A | 222 | 12756 |
| &nbsp;&nbsp;&nbsp;Monster Beverage \* | 166 | 11094 |
| &nbsp;&nbsp;&nbsp;PepsiCo | 232 | 33893 |
|  |  | 137297 |
| Energy — 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;Baker Hughes, Cl A | 169 | 8181 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy | 50 | 7160 |
|  |  | 15341 |
| Financials — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;PayPal Holdings \* | 166 | 11499 |

---

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

*98*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Tail Risk ETF** | **Global X NASDAQ 100<sup>®</sup> Tail Risk ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — 4.1% |  |  |
| &nbsp;&nbsp;&nbsp;Amgen | 92 | $27456 |
| &nbsp;&nbsp;&nbsp;Biogen \* | 26 | 4011 |
| &nbsp;&nbsp;&nbsp;Dexcom \* | 65 | 3784 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies | 78 | 5846 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences | 213 | 25515 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories \* | 13 | 8184 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical \* | 61 | 32591 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals | 18 | 11732 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals \* | 44 | 18725 |
|  |  | 137844 |
| Industrials — 3.5% |  |  |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing | 70 | 18221 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise \* | 13 | 9519 |
| &nbsp;&nbsp;&nbsp;Cintas | 69 | 12646 |
| &nbsp;&nbsp;&nbsp;Copart \* | 164 | 7054 |
| &nbsp;&nbsp;&nbsp;CSX | 319 | 11490 |
| &nbsp;&nbsp;&nbsp;Fastenal | 194 | 7983 |
| &nbsp;&nbsp;&nbsp;Honeywell International | 107 | 21542 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line | 37 | 5195 |
| &nbsp;&nbsp;&nbsp;PACCAR | 89 | 8758 |
| &nbsp;&nbsp;&nbsp;Paychex | 62 | 7256 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Cl A | 24 | 5250 |
|  |  | 114914 |
| Information Technology — 54.0% |  |  |
| &nbsp;&nbsp;&nbsp;Adobe \* | 73 | 24843 |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices \* | 278 | 71201 |
| &nbsp;&nbsp;&nbsp;Analog Devices | 83 | 19433 |
| &nbsp;&nbsp;&nbsp;Apple | 1025 | 277129 |
| &nbsp;&nbsp;&nbsp;Applied Materials | 137 | 31935 |
| &nbsp;&nbsp;&nbsp;AppLovin, Cl A \* | 52 | 33141 |
| &nbsp;&nbsp;&nbsp;Atlassian, Cl A \* | 28 | 4744 |
| &nbsp;&nbsp;&nbsp;Autodesk \* | 37 | 11150 |
| &nbsp;&nbsp;&nbsp;Broadcom | 537 | 198491 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems \* | 46 | 15580 |
| &nbsp;&nbsp;&nbsp;CDW | 22 | 3506 |
| &nbsp;&nbsp;&nbsp;Cisco Systems | 677 | 49495 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions, Cl A | 83 | 6049 |

---

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

*99*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Tail Risk ETF** | **Global X NASDAQ 100<sup>®</sup> Tail Risk ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Cl A \* | 42 | $22806 |
| &nbsp;&nbsp;&nbsp;Datadog, Cl A \* | 55 | 8955 |
| &nbsp;&nbsp;&nbsp;Fortinet \* | 131 | 11322 |
| &nbsp;&nbsp;&nbsp;GLOBALFOUNDRIES \* | 94 | 3346 |
| &nbsp;&nbsp;&nbsp;Intel \* | 745 | 29793 |
| &nbsp;&nbsp;&nbsp;Intuit | 47 | 31375 |
| &nbsp;&nbsp;&nbsp;KLA | 22 | 26592 |
| &nbsp;&nbsp;&nbsp;Lam Research | 214 | 33696 |
| &nbsp;&nbsp;&nbsp;Marvell Technology | 146 | 13686 |
| &nbsp;&nbsp;&nbsp;Microchip Technology | 91 | 5680 |
| &nbsp;&nbsp;&nbsp;Micron Technology | 191 | 42740 |
| &nbsp;&nbsp;&nbsp;Microsoft | 513 | 265637 |
| &nbsp;&nbsp;&nbsp;NVIDIA | 1678 | 339778 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor \* | 71 | 3556 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Cl A \* | 387 | 77582 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks \* | 113 | 24887 |
| &nbsp;&nbsp;&nbsp;QUALCOMM | 183 | 33105 |
| &nbsp;&nbsp;&nbsp;Roper Technologies | 18 | 8031 |
| &nbsp;&nbsp;&nbsp;Strategy, Cl A \* | 43 | 11589 |
| &nbsp;&nbsp;&nbsp;Synopsys \* | 31 | 14068 |
| &nbsp;&nbsp;&nbsp;Texas Instruments | 156 | 25188 |
| &nbsp;&nbsp;&nbsp;Workday, Cl A \* | 37 | 8877 |
| &nbsp;&nbsp;&nbsp;Zscaler \* | 27 | 8941 |
|  |  | 1797927 |
| Materials — 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;Linde PLC | 79 | 33046 |
| &nbsp;&nbsp;&nbsp;Solstice Advanced Materials \* | 26 | 1172 |
|  |  | 34218 |
| Real Estate — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;CoStar Group \* | 71 | 4885 |
| Utilities — 1.4% |  |  |
| &nbsp;&nbsp;&nbsp;American Electric Power | 91 | 10944 |
| &nbsp;&nbsp;&nbsp;Constellation Energy | 54 | 20358 |
| &nbsp;&nbsp;&nbsp;Exelon | 172 | 7932 |

---

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

*100*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Tail Risk ETF** | **Global X NASDAQ 100<sup>®</sup> Tail Risk ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Utilities — continued |  |  |
| &nbsp;&nbsp;&nbsp;Xcel Energy | 98 | $7955 |
|  |  | 47189 |
| TOTAL UNITED STATES |  | 3190683 |
| TOTAL COMMON STOCK<br> (Cost $2,460,711) |  | 3318483 |
| **PURCHASED OPTIONS — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $34,090) |  | 11493 |
| TOTAL INVESTMENTS — 99.9%<br> (Cost $2,494,801) |  | $3329976 |

---

*Percentages are based on Net Assets of $3,332,678.*

*A list of exchange-traded option contracts held by the Fund at October 31, 2025, is as follows:*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> Contracts** | **Notional<br> Amount** | **Exercise<br> Price** | **Expiration<br> Date** | **Value** |
| **PURCHASED OPTIONS — 0.3%** |  |  |  |  |  |
| **Put Options** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Nasdaq-100 Index | 1 | $2585813 | $22100.00 | 12/19/2025 | $9015 |
| &nbsp;&nbsp;&nbsp;Nasdaq-100 Micro Index | 28 | 724024 | 221.00 | 12/19/2025 | 2478 |
| &nbsp;&nbsp;&nbsp;Total Purchased Options |  | $3309837 |  |  | $11493 |

---

<br> \* Non-income producing security.

*As of October 31, 2025, 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.*

*See "Glossary" for abbreviations.*

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

*101*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF** | **Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 100.4%** |  |  |
| **BRAZIL — 0.6%** |  |  |
| Consumer Discretionary — 0.6% |  |  |
| &nbsp;&nbsp;&nbsp;MercadoLibre <sup>\*(A)</sup> | 9 | $20945 |
| **CANADA — 1.4%** |  |  |
| Industrials — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;Thomson Reuters <sup>(A)</sup> | 76 | 11632 |
| Information Technology — 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;Shopify, Cl A <sup>\*(A)</sup> | 208 | 36163 |
| TOTAL CANADA |  | 47795 |
| **CHINA — 0.5%** |  |  |
| Consumer Discretionary — 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;PDD Holdings ADR <sup>\*(A)</sup> | 115 | 15510 |
| **NETHERLANDS — 0.7%** |  |  |
| Information Technology — 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;ASML Holding <sup>(A)</sup> | 14 | 14829 |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors <sup>(A)</sup> | 44 | 9202 |
| TOTAL NETHERLANDS |  | 24031 |
| **UNITED KINGDOM — 0.6%** |  |  |
| Consumer Staples — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Coca-Cola Europacific Partners PLC <sup>(A)</sup> | 81 | 7195 |
| Health Care — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC ADR <sup>(A)</sup> | 100 | 8240 |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;ARM Holdings PLC ADR <sup>\*(A)</sup> | 22 | 3736 |
| TOTAL UNITED KINGDOM |  | 19171 |
| **UNITED STATES — 96.6%** |  |  |
| Communication Services — 14.8% |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl A <sup>(A)</sup> | 403 | 113320 |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl C <sup>(A)</sup> | 376 | 105964 |
| &nbsp;&nbsp;&nbsp;Charter Communications, Cl A <sup>\*(A)</sup> | 24 | 5612 |

---

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

*102*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF** | **Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Communication Services — continued |  |  |
| &nbsp;&nbsp;&nbsp;Comcast, Cl A <sup>(A)</sup> | 628 | $17480 |
| &nbsp;&nbsp;&nbsp;Electronic Arts <sup>(A)</sup> | 43 | 8603 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A <sup>(A)</sup> | 150 | 97252 |
| &nbsp;&nbsp;&nbsp;Netflix <sup>\*(A)</sup> | 73 | 81677 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software <sup>\*(A)</sup> | 32 | 8204 |
| &nbsp;&nbsp;&nbsp;T-Mobile US <sup>(A)</sup> | 193 | 40540 |
| &nbsp;&nbsp;&nbsp;Trade Desk, Cl A <sup>\*(A)</sup> | 79 | 3972 |
| &nbsp;&nbsp;&nbsp;Warner Bros Discovery <sup>\*(A)</sup> | 423 | 9496 |
|  |  | 492120 |
| Consumer Discretionary — 12.1% |  |  |
| &nbsp;&nbsp;&nbsp;Airbnb, Cl A <sup>\*(A)</sup> | 74 | 9364 |
| &nbsp;&nbsp;&nbsp;Amazon.com <sup>\*(A)</sup> | 740 | 180723 |
| &nbsp;&nbsp;&nbsp;Booking Holdings <sup>(A)</sup> | 5 | 25389 |
| &nbsp;&nbsp;&nbsp;DoorDash, Cl A <sup>\*(A)</sup> | 68 | 17297 |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica <sup>\*(A)</sup> | 19 | 3240 |
| &nbsp;&nbsp;&nbsp;Marriott International, Cl A <sup>(A)</sup> | 45 | 11726 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive <sup>\*(A)</sup> | 146 | 13788 |
| &nbsp;&nbsp;&nbsp;Ross Stores <sup>(A)</sup> | 54 | 8582 |
| &nbsp;&nbsp;&nbsp;Starbucks <sup>(A)</sup> | 195 | 15770 |
| &nbsp;&nbsp;&nbsp;Tesla <sup>\*(A)</sup> | 252 | 115053 |
|  |  | 400932 |
| Consumer Staples — 4.2% |  |  |
| &nbsp;&nbsp;&nbsp;Costco Wholesale <sup>(A)</sup> | 76 | 69270 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper <sup>(A)</sup> | 232 | 6301 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz <sup>(A)</sup> | 211 | 5218 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Cl A <sup>(A)</sup> | 221 | 12699 |
| &nbsp;&nbsp;&nbsp;Monster Beverage <sup>\*(A)</sup> | 166 | 11094 |
| &nbsp;&nbsp;&nbsp;PepsiCo <sup>(A)</sup> | 235 | 34331 |
|  |  | 138913 |
| Energy — 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;Baker Hughes, Cl A <sup>(A)</sup> | 168 | 8133 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy <sup>(A)</sup> | 49 | 7016 |
|  |  | 15149 |
| Financials — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;PayPal Holdings <sup>\*(A)</sup> | 164 | 11361 |

---

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

*103*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF** | **Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — 4.2% |  |  |
| &nbsp;&nbsp;&nbsp;Amgen <sup>(A)</sup> | 92 | $27456 |
| &nbsp;&nbsp;&nbsp;Biogen <sup>\*(A)</sup> | 23 | 3548 |
| &nbsp;&nbsp;&nbsp;Dexcom <sup>\*(A)</sup> | 66 | 3843 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies <sup>(A)</sup> | 77 | 5771 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences <sup>(A)</sup> | 212 | 25395 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories <sup>\*(A)</sup> | 14 | 8813 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical <sup>\*(A)</sup> | 62 | 33125 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals <sup>(A)</sup> | 17 | 11081 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals <sup>\*(A)</sup> | 44 | 18725 |
|  |  | 137757 |
| Industrials — 3.5% |  |  |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing <sup>(A)</sup> | 69 | 17961 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise <sup>\*(A)</sup> | 14 | 10251 |
| &nbsp;&nbsp;&nbsp;Cintas <sup>(A)</sup> | 68 | 12462 |
| &nbsp;&nbsp;&nbsp;Copart <sup>\*(A)</sup> | 163 | 7011 |
| &nbsp;&nbsp;&nbsp;CSX <sup>(A)</sup> | 317 | 11418 |
| &nbsp;&nbsp;&nbsp;Fastenal <sup>(A)</sup> | 194 | 7983 |
| &nbsp;&nbsp;&nbsp;Honeywell International <sup>(A)</sup> | 108 | 21744 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line <sup>(A)</sup> | 35 | 4915 |
| &nbsp;&nbsp;&nbsp;PACCAR <sup>(A)</sup> | 89 | 8757 |
| &nbsp;&nbsp;&nbsp;Paychex <sup>(A)</sup> | 63 | 7373 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Cl A <sup>(A)</sup> | 25 | 5469 |
|  |  | 115344 |
| Information Technology — 54.4% |  |  |
| &nbsp;&nbsp;&nbsp;Adobe <sup>\*(A)</sup> | 73 | 24843 |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices <sup>\*(A)</sup> | 276 | 70689 |
| &nbsp;&nbsp;&nbsp;Analog Devices <sup>(A)</sup> | 85 | 19901 |
| &nbsp;&nbsp;&nbsp;Apple <sup>(A)</sup> | 1030 | 278481 |
| &nbsp;&nbsp;&nbsp;Applied Materials <sup>(A)</sup> | 135 | 31468 |
| &nbsp;&nbsp;&nbsp;AppLovin, Cl A <sup>\*(A)</sup> | 53 | 33778 |
| &nbsp;&nbsp;&nbsp;Atlassian, Cl A <sup>\*(A)</sup> | 28 | 4744 |
| &nbsp;&nbsp;&nbsp;Autodesk <sup>\*(A)</sup> | 35 | 10547 |
| &nbsp;&nbsp;&nbsp;Broadcom <sup>(A)</sup> | 540 | 199600 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems <sup>\*(A)</sup> | 46 | 15580 |
| &nbsp;&nbsp;&nbsp;CDW <sup>(A)</sup> | 23 | 3666 |
| &nbsp;&nbsp;&nbsp;Cisco Systems <sup>(A)</sup> | 675 | 49349 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions, Cl A <sup>(A)</sup> | 84 | 6122 |

---

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

*104*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF** | **Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Cl A <sup>\*(A)</sup> | 43 | $23349 |
| &nbsp;&nbsp;&nbsp;Datadog, Cl A <sup>\*(A)</sup> | 54 | 8792 |
| &nbsp;&nbsp;&nbsp;Fortinet <sup>\*(A)</sup> | 131 | 11322 |
| &nbsp;&nbsp;&nbsp;GLOBALFOUNDRIES <sup>\*(A)</sup> | 103 | 3667 |
| &nbsp;&nbsp;&nbsp;Intel <sup>\*(A)</sup> | 746 | 29833 |
| &nbsp;&nbsp;&nbsp;Intuit <sup>(A)</sup> | 47 | 31375 |
| &nbsp;&nbsp;&nbsp;KLA <sup>(A)</sup> | 22 | 26592 |
| &nbsp;&nbsp;&nbsp;Lam Research <sup>(A)</sup> | 215 | 33854 |
| &nbsp;&nbsp;&nbsp;Marvell Technology <sup>(A)</sup> | 146 | 13686 |
| &nbsp;&nbsp;&nbsp;Microchip Technology <sup>(A)</sup> | 93 | 5805 |
| &nbsp;&nbsp;&nbsp;Micron Technology <sup>(A)</sup> | 191 | 42740 |
| &nbsp;&nbsp;&nbsp;Microsoft <sup>(A)</sup> | 516 | 267190 |
| &nbsp;&nbsp;&nbsp;NVIDIA <sup>(A)</sup> | 1687 | 341601 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor <sup>\*(A)</sup> | 69 | 3456 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Cl A <sup>\*(A)</sup> | 388 | 77782 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks <sup>\*(A)</sup> | 115 | 25328 |
| &nbsp;&nbsp;&nbsp;QUALCOMM <sup>(A)</sup> | 185 | 33466 |
| &nbsp;&nbsp;&nbsp;Roper Technologies <sup>(A)</sup> | 18 | 8031 |
| &nbsp;&nbsp;&nbsp;Strategy, Cl A <sup>\*(A)</sup> | 44 | 11858 |
| &nbsp;&nbsp;&nbsp;Synopsys <sup>\*(A)</sup> | 32 | 14522 |
| &nbsp;&nbsp;&nbsp;Texas Instruments <sup>(A)</sup> | 154 | 24865 |
| &nbsp;&nbsp;&nbsp;Workday, Cl A <sup>\*(A)</sup> | 36 | 8637 |
| &nbsp;&nbsp;&nbsp;Zscaler <sup>\*(A)</sup> | 26 | 8610 |
|  |  | 1805129 |
| Materials — 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;Linde PLC <sup>(A)</sup> | 80 | 33464 |
| &nbsp;&nbsp;&nbsp;Solstice Advanced Materials \* | 27 | 1217 |
|  |  | 34681 |
| Real Estate — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;CoStar Group <sup>\*(A)</sup> | 73 | 5023 |
| Utilities — 1.4% |  |  |
| &nbsp;&nbsp;&nbsp;American Electric Power <sup>(A)</sup> | 92 | 11064 |
| &nbsp;&nbsp;&nbsp;Constellation Energy <sup>(A)</sup> | 54 | 20358 |
| &nbsp;&nbsp;&nbsp;Exelon <sup>(A)</sup> | 173 | 7979 |

---

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

*105*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF** | **Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Utilities — continued |  |  |
| &nbsp;&nbsp;&nbsp;Xcel Energy <sup>(A)</sup> | 103 | $8360 |
|  |  | 47761 |
| TOTAL UNITED STATES |  | 3204170 |
| TOTAL COMMON STOCK<br> (Cost $2,817,262) |  | 3331622 |
| **PURCHASED OPTIONS — 0.7%**<br> (Cost $60,298) |  | 22117 |
| TOTAL INVESTMENTS — 101.1%<br> (Cost $2,877,560) |  | $3353739 |
| **WRITTEN OPTIONS— (1.2)%**<br> (Premiums Received $(17127)) |  | $(40366) |

---

*Percentages are based on Net Assets of $3,317,226.*

*A list of exchange-traded option contracts held by the Fund at October 31, 2025, is as follows:*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> Contracts** | **Notional<br> Amount** | **Exercise<br> Price** | **Expiration<br> Date** | **Value** |
| **PURCHASED OPTIONS — 0.7%** |  |  |  |  |  |
| **Put Options** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Nasdaq-100 Index | 1 | $2585813 | $23300.00 | 12/19/2025 | $16655 |
| &nbsp;&nbsp;&nbsp;Nasdaq-100 Micro Index | 33 | 853314 | 233.00 | 12/19/2025 | 5462 |
| &nbsp;&nbsp;&nbsp;Total Purchased Options |  | $3439127 |  |  | $22117 |
| **WRITTEN OPTIONS — (1.2)%** |  |  |  |  |  |
| **Call Options** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Nasdaq-100 Index | (1) | $(2585813) | $27000.00 | 12/19/2025 | $(31350) |
| &nbsp;&nbsp;&nbsp;Nasdaq-100 Micro Index | (28) | (724024) | 270.00 | 12/19/2025 | (9016) |
| &nbsp;&nbsp;&nbsp;Total Written Options |  | $(3309837) |  |  | $(40366) |

---

*\** *Non-income producing security.*

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

*106*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF** | **Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF** |

---

&nbsp;&nbsp;&nbsp;&nbsp;*(A)* *All or a portion of these securities have been segregated as collateral for options contracts. The Fair Value of the securities pledged as collateral is $3,311,417.* 

*The following is a summary of the level of inputs used as of October 31, 2025, in valuing the Fund's investments and other financial instruments carried at value:*

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Investments in Securities* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Common Stock* | $*3331622* | $*—* | $*—* | $*3331622* |
| &nbsp;&nbsp;&nbsp;*Purchased Options* | *22117* | *—* | *—* | *22117* |
| *Total Investments in Securities* | $*3353739* | $*—* | $*—* | $*3353739* |
| *Other Financial Instruments* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Written Options* | $*(40366)* | $*—* | $*—* | $*(40366)* |
| *Total Other Financial Instruments* | $*(40366)* | $*—* | $*—* | $*(40366)* |

---

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

*See "Glossary" for abbreviations.*

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

*107*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** | **Global X S&P 500<sup>®</sup> Tail Risk ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 99.6%** |  |  |
| **NETHERLANDS — 0.1%** |  |  |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors | 10 | $2091 |
| **SWITZERLAND — 0.1%** |  |  |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;TE Connectivity PLC | 13 | 3211 |
| **UNITED STATES — 99.4%** |  |  |
| Communication Services — 10.1% |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl A | 247 | 69454 |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl C | 199 | 56082 |
| &nbsp;&nbsp;&nbsp;AT&T | 304 | 7524 |
| &nbsp;&nbsp;&nbsp;Charter Communications, Cl A \* | 3 | 702 |
| &nbsp;&nbsp;&nbsp;Comcast, Cl A | 159 | 4426 |
| &nbsp;&nbsp;&nbsp;Electronic Arts | 9 | 1801 |
| &nbsp;&nbsp;&nbsp;Fox, Cl A | 10 | 646 |
| &nbsp;&nbsp;&nbsp;Fox, Cl B | 5 | 292 |
| &nbsp;&nbsp;&nbsp;Interpublic Group | 18 | 462 |
| &nbsp;&nbsp;&nbsp;Live Nation Entertainment \* | 7 | 1047 |
| &nbsp;&nbsp;&nbsp;Match Group | 9 | 291 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 93 | 60297 |
| &nbsp;&nbsp;&nbsp;Netflix \* | 18 | 20139 |
| &nbsp;&nbsp;&nbsp;News, Cl A | 15 | 397 |
| &nbsp;&nbsp;&nbsp;News, Cl B | 5 | 152 |
| &nbsp;&nbsp;&nbsp;Omnicom Group | 8 | 600 |
| &nbsp;&nbsp;&nbsp;Paramount Skydance Corp, Cl B | 13 | 200 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software \* | 7 | 1795 |
| &nbsp;&nbsp;&nbsp;TKO Group Holdings, Cl A | 3 | 565 |
| &nbsp;&nbsp;&nbsp;T-Mobile US | 21 | 4411 |
| &nbsp;&nbsp;&nbsp;Trade Desk, Cl A \* | 19 | 955 |
| &nbsp;&nbsp;&nbsp;Verizon Communications | 182 | 7233 |
| &nbsp;&nbsp;&nbsp;Walt Disney | 77 | 8672 |
| &nbsp;&nbsp;&nbsp;Warner Bros Discovery \* | 95 | 2133 |
|  |  | 250276 |
| Consumer Discretionary — 10.4% |  |  |
| &nbsp;&nbsp;&nbsp;Airbnb, Cl A \* | 18 | 2278 |
| &nbsp;&nbsp;&nbsp;Amazon.com \* | 413 | 100863 |

---

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

*108*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** | **Global X S&P 500<sup>®</sup> Tail Risk ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;APTIV PLC \* | 9 | $730 |
| &nbsp;&nbsp;&nbsp;AutoZone \* | 1 | 3674 |
| &nbsp;&nbsp;&nbsp;Best Buy | 9 | 739 |
| &nbsp;&nbsp;&nbsp;Booking Holdings | 1 | 5078 |
| &nbsp;&nbsp;&nbsp;Carnival \* | 44 | 1268 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Cl A \* | 59 | 1870 |
| &nbsp;&nbsp;&nbsp;Darden Restaurants | 5 | 901 |
| &nbsp;&nbsp;&nbsp;Deckers Outdoor \* | 6 | 489 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza | 1 | 398 |
| &nbsp;&nbsp;&nbsp;DoorDash, Cl A \* | 15 | 3815 |
| &nbsp;&nbsp;&nbsp;DR Horton | 11 | 1640 |
| &nbsp;&nbsp;&nbsp;eBay | 19 | 1545 |
| &nbsp;&nbsp;&nbsp;Expedia Group | 5 | 1100 |
| &nbsp;&nbsp;&nbsp;Ford Motor | 166 | 2180 |
| &nbsp;&nbsp;&nbsp;Garmin | 7 | 1498 |
| &nbsp;&nbsp;&nbsp;General Motors | 42 | 2902 |
| &nbsp;&nbsp;&nbsp;Genuine Parts | 6 | 764 |
| &nbsp;&nbsp;&nbsp;Hasbro | 5 | 381 |
| &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings | 10 | 2570 |
| &nbsp;&nbsp;&nbsp;Home Depot | 42 | 15943 |
| &nbsp;&nbsp;&nbsp;Las Vegas Sands | 14 | 831 |
| &nbsp;&nbsp;&nbsp;Lennar, Cl A | 10 | 1238 |
| &nbsp;&nbsp;&nbsp;LKQ | 10 | 320 |
| &nbsp;&nbsp;&nbsp;Lowe's | 24 | 5715 |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica \* | 5 | 853 |
| &nbsp;&nbsp;&nbsp;Marriott International, Cl A | 9 | 2345 |
| &nbsp;&nbsp;&nbsp;McDonald's | 31 | 9251 |
| &nbsp;&nbsp;&nbsp;MGM Resorts International \* | 8 | 256 |
| &nbsp;&nbsp;&nbsp;Mohawk Industries \* | 2 | 227 |
| &nbsp;&nbsp;&nbsp;NIKE, Cl B | 50 | 3229 |
| &nbsp;&nbsp;&nbsp;Norwegian Cruise Line Holdings \* | 18 | 403 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive \* | 35 | 3305 |
| &nbsp;&nbsp;&nbsp;Pool | 1 | 267 |
| &nbsp;&nbsp;&nbsp;PulteGroup | 9 | 1079 |
| &nbsp;&nbsp;&nbsp;Ralph Lauren, Cl A | 1 | 320 |
| &nbsp;&nbsp;&nbsp;Ross Stores | 14 | 2225 |
| &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises | 10 | 2868 |
| &nbsp;&nbsp;&nbsp;Starbucks | 49 | 3963 |
| &nbsp;&nbsp;&nbsp;Tapestry | 8 | 879 |

---

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

*109*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** | **Global X S&P 500<sup>®</sup> Tail Risk ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;Tesla \* | 119 | $54331 |
| &nbsp;&nbsp;&nbsp;TJX | 48 | 6727 |
| &nbsp;&nbsp;&nbsp;Tractor Supply | 23 | 1244 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty \* | 2 | 1040 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma | 6 | 1166 |
| &nbsp;&nbsp;&nbsp;Wynn Resorts | 3 | 357 |
| &nbsp;&nbsp;&nbsp;Yum! Brands | 11 | 1520 |
|  |  | 258585 |
| Consumer Staples — 4.7% |  |  |
| &nbsp;&nbsp;&nbsp;Altria Group | 73 | 4116 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland | 21 | 1271 |
| &nbsp;&nbsp;&nbsp;Brown-Forman, Cl B | 7 | 191 |
| &nbsp;&nbsp;&nbsp;Bunge Global | 7 | 662 |
| &nbsp;&nbsp;&nbsp;Church & Dwight | 10 | 877 |
| &nbsp;&nbsp;&nbsp;Clorox | 6 | 675 |
| &nbsp;&nbsp;&nbsp;Coca-Cola | 165 | 11368 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive | 35 | 2697 |
| &nbsp;&nbsp;&nbsp;Conagra Brands | 24 | 412 |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Cl A | 7 | 920 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale | 19 | 17317 |
| &nbsp;&nbsp;&nbsp;Dollar General | 9 | 888 |
| &nbsp;&nbsp;&nbsp;Dollar Tree \* | 8 | 793 |
| &nbsp;&nbsp;&nbsp;Estee Lauder, Cl A | 11 | 1063 |
| &nbsp;&nbsp;&nbsp;General Mills | 24 | 1119 |
| &nbsp;&nbsp;&nbsp;Hershey | 6 | 1018 |
| &nbsp;&nbsp;&nbsp;Hormel Foods | 15 | 324 |
| &nbsp;&nbsp;&nbsp;J M Smucker | 5 | 518 |
| &nbsp;&nbsp;&nbsp;Kellanova | 11 | 914 |
| &nbsp;&nbsp;&nbsp;Kenvue | 81 | 1164 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper | 49 | 1331 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark | 14 | 1676 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz | 37 | 915 |
| &nbsp;&nbsp;&nbsp;Kroger | 27 | 1718 |
| &nbsp;&nbsp;&nbsp;Lamb Weston Holdings | 7 | 432 |
| &nbsp;&nbsp;&nbsp;McCormick | 10 | 641 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage, Cl B | 6 | 262 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Cl A | 56 | 3218 |
| &nbsp;&nbsp;&nbsp;Monster Beverage \* | 30 | 2005 |

---

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

*110*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** | **Global X S&P 500<sup>®</sup> Tail Risk ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Staples — continued |  |  |
| &nbsp;&nbsp;&nbsp;PepsiCo | 58 | $8473 |
| &nbsp;&nbsp;&nbsp;Philip Morris International | 66 | 9526 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble | 99 | 14887 |
| &nbsp;&nbsp;&nbsp;Sysco | 21 | 1560 |
| &nbsp;&nbsp;&nbsp;Target | 18 | 1669 |
| &nbsp;&nbsp;&nbsp;The Campbell's Company | 8 | 241 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Cl A | 12 | 617 |
| &nbsp;&nbsp;&nbsp;Walmart | 186 | 18819 |
|  |  | 116297 |
| Energy — 2.8% |  |  |
| &nbsp;&nbsp;&nbsp;APA | 17 | 385 |
| &nbsp;&nbsp;&nbsp;Baker Hughes, Cl A | 42 | 2033 |
| &nbsp;&nbsp;&nbsp;Chevron | 81 | 12775 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | 54 | 4798 |
| &nbsp;&nbsp;&nbsp;Coterra Energy | 31 | 733 |
| &nbsp;&nbsp;&nbsp;Devon Energy | 28 | 910 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy | 8 | 1146 |
| &nbsp;&nbsp;&nbsp;EOG Resources | 24 | 2540 |
| &nbsp;&nbsp;&nbsp;EQT | 25 | 1340 |
| &nbsp;&nbsp;&nbsp;Expand Energy | 9 | 930 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil | 181 | 20699 |
| &nbsp;&nbsp;&nbsp;Halliburton | 37 | 993 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan | 82 | 2148 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum | 13 | 2534 |
| &nbsp;&nbsp;&nbsp;Occidental Petroleum | 29 | 1195 |
| &nbsp;&nbsp;&nbsp;ONEOK | 25 | 1675 |
| &nbsp;&nbsp;&nbsp;Phillips 66 | 18 | 2451 |
| &nbsp;&nbsp;&nbsp;SLB LTD | 61 | 2200 |
| &nbsp;&nbsp;&nbsp;Targa Resources | 9 | 1386 |
| &nbsp;&nbsp;&nbsp;Texas Pacific Land | 1 | 943 |
| &nbsp;&nbsp;&nbsp;Valero Energy | 13 | 2204 |
| &nbsp;&nbsp;&nbsp;Williams | 52 | 3009 |
|  |  | 69027 |
| Financials — 12.8% |  |  |
| &nbsp;&nbsp;&nbsp;Aflac | 21 | 2251 |
| &nbsp;&nbsp;&nbsp;Allstate | 11 | 2107 |
| &nbsp;&nbsp;&nbsp;American Express | 23 | 8297 |

---

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

*111*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** | **Global X S&P 500<sup>®</sup> Tail Risk ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;American International Group | 24 | $1895 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial | 4 | 1811 |
| &nbsp;&nbsp;&nbsp;Aon PLC, Cl A | 9 | 3066 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management | 19 | 2362 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group | 16 | 1381 |
| &nbsp;&nbsp;&nbsp;Arthur J Gallagher | 10 | 2495 |
| &nbsp;&nbsp;&nbsp;Assurant | 2 | 423 |
| &nbsp;&nbsp;&nbsp;Bank of America | 290 | 15500 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon | 31 | 3346 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Cl B \* | 78 | 37248 |
| &nbsp;&nbsp;&nbsp;BlackRock Funding | 6 | 6497 |
| &nbsp;&nbsp;&nbsp;Blackstone | 31 | 4546 |
| &nbsp;&nbsp;&nbsp;Block, Cl A \* | 24 | 1823 |
| &nbsp;&nbsp;&nbsp;Brown & Brown | 11 | 877 |
| &nbsp;&nbsp;&nbsp;Capital One Financial | 27 | 5940 |
| &nbsp;&nbsp;&nbsp;Cboe Global Markets | 5 | 1228 |
| &nbsp;&nbsp;&nbsp;Charles Schwab | 72 | 6805 |
| &nbsp;&nbsp;&nbsp;Chubb | 16 | 4431 |
| &nbsp;&nbsp;&nbsp;Cincinnati Financial | 7 | 1082 |
| &nbsp;&nbsp;&nbsp;Citigroup | 78 | 7896 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group | 18 | 916 |
| &nbsp;&nbsp;&nbsp;CME Group, Cl A | 15 | 3982 |
| &nbsp;&nbsp;&nbsp;Coinbase Global, Cl A \* | 9 | 3094 |
| &nbsp;&nbsp;&nbsp;Corpay \* | 3 | 781 |
| &nbsp;&nbsp;&nbsp;Erie Indemnity, Cl A | 1 | 293 |
| &nbsp;&nbsp;&nbsp;Everest Group | 2 | 629 |
| &nbsp;&nbsp;&nbsp;FactSet Research Systems | 1 | 267 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services | 23 | 1438 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 28 | 1165 |
| &nbsp;&nbsp;&nbsp;Fiserv \* | 24 | 1601 |
| &nbsp;&nbsp;&nbsp;Franklin Resources | 12 | 271 |
| &nbsp;&nbsp;&nbsp;Global Payments | 11 | 855 |
| &nbsp;&nbsp;&nbsp;Globe Life | 3 | 395 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group | 13 | 10262 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group | 11 | 1366 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares | 61 | 942 |
| &nbsp;&nbsp;&nbsp;Interactive Brokers Group, Cl A | 18 | 1266 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange | 24 | 3511 |
| &nbsp;&nbsp;&nbsp;Invesco | 19 | 450 |

---

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

*112*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** | **Global X S&P 500<sup>®</sup> Tail Risk ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Jack Henry & Associates | 3 | $447 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase | 117 | 36401 |
| &nbsp;&nbsp;&nbsp;KeyCorp | 41 | 721 |
| &nbsp;&nbsp;&nbsp;KKR | 29 | 3432 |
| &nbsp;&nbsp;&nbsp;Loews | 7 | 697 |
| &nbsp;&nbsp;&nbsp;M&T Bank | 7 | 1287 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan | 21 | 3741 |
| &nbsp;&nbsp;&nbsp;Mastercard, Cl A | 35 | 19320 |
| &nbsp;&nbsp;&nbsp;MetLife | 25 | 1996 |
| &nbsp;&nbsp;&nbsp;Moody's | 7 | 3362 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 51 | 8364 |
| &nbsp;&nbsp;&nbsp;MSCI, Cl A | 3 | 1766 |
| &nbsp;&nbsp;&nbsp;Nasdaq | 17 | 1453 |
| &nbsp;&nbsp;&nbsp;Northern Trust | 8 | 1029 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings \* | 42 | 2909 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group | 17 | 3103 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group | 9 | 756 |
| &nbsp;&nbsp;&nbsp;Progressive | 25 | 5150 |
| &nbsp;&nbsp;&nbsp;Prudential Financial | 15 | 1560 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial | 8 | 1269 |
| &nbsp;&nbsp;&nbsp;Regions Financial | 38 | 920 |
| &nbsp;&nbsp;&nbsp;Robinhood Markets, Cl A \* | 33 | 4844 |
| &nbsp;&nbsp;&nbsp;S&P Global | 14 | 6821 |
| &nbsp;&nbsp;&nbsp;State Street | 12 | 1388 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | 16 | 1190 |
| &nbsp;&nbsp;&nbsp;T Rowe Price Group | 9 | 923 |
| &nbsp;&nbsp;&nbsp;Travelers | 9 | 2418 |
| &nbsp;&nbsp;&nbsp;Truist Financial | 57 | 2544 |
| &nbsp;&nbsp;&nbsp;US Bancorp | 65 | 3034 |
| &nbsp;&nbsp;&nbsp;Visa, Cl A | 72 | 24533 |
| &nbsp;&nbsp;&nbsp;W R Berkley | 13 | 927 |
| &nbsp;&nbsp;&nbsp;Wells Fargo | 136 | 11828 |
| &nbsp;&nbsp;&nbsp;Willis Towers Watson PLC | 5 | 1566 |
|  |  | 318490 |
| Health Care — 9.0% |  |  |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 74 | 9148 |
| &nbsp;&nbsp;&nbsp;AbbVie | 75 | 16353 |
| &nbsp;&nbsp;&nbsp;Agilent Technologies | 12 | 1756 |

---

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

*113*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** | **Global X S&P 500<sup>®</sup> Tail Risk ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Align Technology \* | 3 | $414 |
| &nbsp;&nbsp;&nbsp;Amgen | 23 | 6864 |
| &nbsp;&nbsp;&nbsp;Baxter International | 24 | 443 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson | 12 | 2145 |
| &nbsp;&nbsp;&nbsp;Biogen \* | 6 | 926 |
| &nbsp;&nbsp;&nbsp;Bio-Techne | 8 | 501 |
| &nbsp;&nbsp;&nbsp;Boston Scientific \* | 64 | 6446 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb | 88 | 4054 |
| &nbsp;&nbsp;&nbsp;Cardinal Health | 10 | 1908 |
| &nbsp;&nbsp;&nbsp;Cencora | 8 | 2702 |
| &nbsp;&nbsp;&nbsp;Centene \* | 20 | 707 |
| &nbsp;&nbsp;&nbsp;Charles River Laboratories International \* | 2 | 360 |
| &nbsp;&nbsp;&nbsp;Cigna Group | 11 | 2689 |
| &nbsp;&nbsp;&nbsp;Cooper \* | 8 | 559 |
| &nbsp;&nbsp;&nbsp;CVS Health | 54 | 4220 |
| &nbsp;&nbsp;&nbsp;Danaher | 26 | 5600 |
| &nbsp;&nbsp;&nbsp;DaVita \* | 2 | 238 |
| &nbsp;&nbsp;&nbsp;Dexcom \* | 17 | 990 |
| &nbsp;&nbsp;&nbsp;Edwards Lifesciences \* | 25 | 2061 |
| &nbsp;&nbsp;&nbsp;Elevance Health | 9 | 2855 |
| &nbsp;&nbsp;&nbsp;Eli Lilly | 34 | 29337 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies | 19 | 1424 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences | 54 | 6469 |
| &nbsp;&nbsp;&nbsp;HCA Healthcare | 7 | 3218 |
| &nbsp;&nbsp;&nbsp;Henry Schein \* | 6 | 379 |
| &nbsp;&nbsp;&nbsp;Hologic \* | 9 | 665 |
| &nbsp;&nbsp;&nbsp;Humana | 5 | 1391 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories \* | 3 | 1889 |
| &nbsp;&nbsp;&nbsp;Incyte \* | 8 | 748 |
| &nbsp;&nbsp;&nbsp;Insulet \* | 3 | 939 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical \* | 15 | 8014 |
| &nbsp;&nbsp;&nbsp;IQVIA Holdings \* | 7 | 1515 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | 102 | 19265 |
| &nbsp;&nbsp;&nbsp;Labcorp Holdings | 3 | 762 |
| &nbsp;&nbsp;&nbsp;McKesson | 6 | 4868 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | 56 | 5079 |
| &nbsp;&nbsp;&nbsp;Merck | 107 | 9200 |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International \* | 1 | 1416 |
| &nbsp;&nbsp;&nbsp;Moderna \* | 14 | 380 |

---

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

*114*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** | **Global X S&P 500<sup>®</sup> Tail Risk ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Molina Healthcare \* | 2 | $306 |
| &nbsp;&nbsp;&nbsp;Pfizer | 245 | 6039 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics | 5 | 880 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals | 5 | 3259 |
| &nbsp;&nbsp;&nbsp;ResMed | 6 | 1481 |
| &nbsp;&nbsp;&nbsp;Revvity | 6 | 562 |
| &nbsp;&nbsp;&nbsp;Solventum \* | 6 | 414 |
| &nbsp;&nbsp;&nbsp;STERIS PLC | 5 | 1179 |
| &nbsp;&nbsp;&nbsp;Stryker | 15 | 5344 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific | 16 | 9078 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group | 39 | 13321 |
| &nbsp;&nbsp;&nbsp;Universal Health Services, Cl B | 2 | 434 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals \* | 11 | 4681 |
| &nbsp;&nbsp;&nbsp;Viatris | 54 | 559 |
| &nbsp;&nbsp;&nbsp;Waters \* | 2 | 699 |
| &nbsp;&nbsp;&nbsp;West Pharmaceutical Services | 3 | 846 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings | 8 | 804 |
| &nbsp;&nbsp;&nbsp;Zoetis, Cl A | 19 | 2738 |
|  |  | 223521 |
| Industrials — 8.1% |  |  |
| &nbsp;&nbsp;&nbsp;3M | 23 | 3829 |
| &nbsp;&nbsp;&nbsp;A O Smith | 5 | 330 |
| &nbsp;&nbsp;&nbsp;Allegion PLC | 3 | 497 |
| &nbsp;&nbsp;&nbsp;AMETEK | 10 | 2021 |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing | 17 | 4425 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise \* | 3 | 2197 |
| &nbsp;&nbsp;&nbsp;Boeing \* | 32 | 6433 |
| &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions | 5 | 1102 |
| &nbsp;&nbsp;&nbsp;Builders FirstSource \* | 6 | 697 |
| &nbsp;&nbsp;&nbsp;Carrier Global | 34 | 2023 |
| &nbsp;&nbsp;&nbsp;Caterpillar | 20 | 11545 |
| &nbsp;&nbsp;&nbsp;CH Robinson Worldwide | 5 | 770 |
| &nbsp;&nbsp;&nbsp;Cintas | 15 | 2749 |
| &nbsp;&nbsp;&nbsp;Copart \* | 38 | 1634 |
| &nbsp;&nbsp;&nbsp;CSX | 81 | 2918 |
| &nbsp;&nbsp;&nbsp;Cummins | 6 | 2626 |
| &nbsp;&nbsp;&nbsp;Dayforce \* | 8 | 550 |
| &nbsp;&nbsp;&nbsp;Deere | 10 | 4616 |

---

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

*115*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** | **Global X S&P 500<sup>®</sup> Tail Risk ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Delta Air Lines | 25 | $1434 |
| &nbsp;&nbsp;&nbsp;Dover | 6 | 1089 |
| &nbsp;&nbsp;&nbsp;Eaton PLC | 16 | 6105 |
| &nbsp;&nbsp;&nbsp;EMCOR Group | 2 | 1352 |
| &nbsp;&nbsp;&nbsp;Emerson Electric | 24 | 3350 |
| &nbsp;&nbsp;&nbsp;Equifax | 6 | 1267 |
| &nbsp;&nbsp;&nbsp;Expeditors International of Washington | 6 | 731 |
| &nbsp;&nbsp;&nbsp;Fastenal | 48 | 1975 |
| &nbsp;&nbsp;&nbsp;FedEx | 9 | 2284 |
| &nbsp;&nbsp;&nbsp;Fortive | 15 | 755 |
| &nbsp;&nbsp;&nbsp;GE Aerospace | 45 | 13903 |
| &nbsp;&nbsp;&nbsp;GE Vernova | 11 | 6437 |
| &nbsp;&nbsp;&nbsp;Generac Holdings \* | 2 | 336 |
| &nbsp;&nbsp;&nbsp;General Dynamics | 10 | 3449 |
| &nbsp;&nbsp;&nbsp;Honeywell International | 27 | 5436 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace | 17 | 3501 |
| &nbsp;&nbsp;&nbsp;Hubbell, Cl B | 2 | 940 |
| &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries | 1 | 322 |
| &nbsp;&nbsp;&nbsp;IDEX | 3 | 514 |
| &nbsp;&nbsp;&nbsp;Illinois Tool Works | 11 | 2683 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand | 15 | 1145 |
| &nbsp;&nbsp;&nbsp;Jacobs Solutions | 6 | 935 |
| &nbsp;&nbsp;&nbsp;JB Hunt Transport Services | 3 | 507 |
| &nbsp;&nbsp;&nbsp;Johnson Controls International | 28 | 3203 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies | 8 | 2313 |
| &nbsp;&nbsp;&nbsp;Leidos Holdings | 6 | 1143 |
| &nbsp;&nbsp;&nbsp;Lennox International | 1 | 505 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin | 9 | 4427 |
| &nbsp;&nbsp;&nbsp;Masco | 8 | 518 |
| &nbsp;&nbsp;&nbsp;Nordson | 2 | 464 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern | 9 | 2550 |
| &nbsp;&nbsp;&nbsp;Northrop Grumman | 6 | 3501 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line | 8 | 1123 |
| &nbsp;&nbsp;&nbsp;Otis Worldwide | 17 | 1577 |
| &nbsp;&nbsp;&nbsp;PACCAR | 23 | 2263 |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin | 6 | 4637 |
| &nbsp;&nbsp;&nbsp;Paychex | 14 | 1638 |
| &nbsp;&nbsp;&nbsp;Paycom Software | 2 | 374 |
| &nbsp;&nbsp;&nbsp;Pentair PLC | 8 | 851 |

---

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

*116*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** | **Global X S&P 500<sup>®</sup> Tail Risk ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Quanta Services | 6 | $2695 |
| &nbsp;&nbsp;&nbsp;Republic Services, Cl A | 9 | 1874 |
| &nbsp;&nbsp;&nbsp;Rockwell Automation | 5 | 1842 |
| &nbsp;&nbsp;&nbsp;Rollins | 12 | 691 |
| &nbsp;&nbsp;&nbsp;RTX | 57 | 10174 |
| &nbsp;&nbsp;&nbsp;Snap-On | 2 | 671 |
| &nbsp;&nbsp;&nbsp;Southwest Airlines | 24 | 727 |
| &nbsp;&nbsp;&nbsp;Stanley Black & Decker | 7 | 474 |
| &nbsp;&nbsp;&nbsp;Textron | 7 | 566 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC | 9 | 4038 |
| &nbsp;&nbsp;&nbsp;TransDigm Group | 2 | 2617 |
| &nbsp;&nbsp;&nbsp;Uber Technologies \* | 89 | 8588 |
| &nbsp;&nbsp;&nbsp;Union Pacific | 25 | 5509 |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings \* | 14 | 1317 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Cl B | 32 | 3085 |
| &nbsp;&nbsp;&nbsp;United Rentals | 3 | 2614 |
| &nbsp;&nbsp;&nbsp;Veralto | 10 | 987 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Cl A | 6 | 1313 |
| &nbsp;&nbsp;&nbsp;Wabtec | 7 | 1431 |
| &nbsp;&nbsp;&nbsp;Waste Management | 16 | 3196 |
| &nbsp;&nbsp;&nbsp;WW Grainger | 2 | 1958 |
| &nbsp;&nbsp;&nbsp;Xylem | 10 | 1509 |
|  |  | 200375 |
| Information Technology — 35.8% |  |  |
| &nbsp;&nbsp;&nbsp;Accenture PLC, Cl A | 26 | 6503 |
| &nbsp;&nbsp;&nbsp;Adobe \* | 18 | 6126 |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices \* | 69 | 17672 |
| &nbsp;&nbsp;&nbsp;Akamai Technologies \* | 6 | 451 |
| &nbsp;&nbsp;&nbsp;Amphenol, Cl A | 51 | 7106 |
| &nbsp;&nbsp;&nbsp;Analog Devices | 21 | 4917 |
| &nbsp;&nbsp;&nbsp;Apple | 631 | 170603 |
| &nbsp;&nbsp;&nbsp;Applied Materials | 34 | 7925 |
| &nbsp;&nbsp;&nbsp;AppLovin, Cl A \* | 11 | 7011 |
| &nbsp;&nbsp;&nbsp;Arista Networks \* | 44 | 6938 |
| &nbsp;&nbsp;&nbsp;Autodesk \* | 9 | 2712 |
| &nbsp;&nbsp;&nbsp;Broadcom | 200 | 73926 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems \* | 11 | 3726 |
| &nbsp;&nbsp;&nbsp;CDW | 6 | 956 |

---

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

*117*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** | **Global X S&P 500<sup>®</sup> Tail Risk ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;Cisco Systems | 168 | $12282 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions, Cl A | 21 | 1530 |
| &nbsp;&nbsp;&nbsp;Corning | 33 | 2940 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Cl A \* | 11 | 5973 |
| &nbsp;&nbsp;&nbsp;Datadog, Cl A \* | 14 | 2279 |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Cl C | 13 | 2106 |
| &nbsp;&nbsp;&nbsp;EPAM Systems \* | 2 | 327 |
| &nbsp;&nbsp;&nbsp;F5 \* | 2 | 506 |
| &nbsp;&nbsp;&nbsp;Fair Isaac \* | 1 | 1660 |
| &nbsp;&nbsp;&nbsp;First Solar \* | 5 | 1335 |
| &nbsp;&nbsp;&nbsp;Fortinet \* | 27 | 2334 |
| &nbsp;&nbsp;&nbsp;Gartner \* | 3 | 745 |
| &nbsp;&nbsp;&nbsp;Gen Digital | 23 | 606 |
| &nbsp;&nbsp;&nbsp;GoDaddy, Cl A \* | 6 | 799 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise | 56 | 1367 |
| &nbsp;&nbsp;&nbsp;HP | 39 | 1079 |
| &nbsp;&nbsp;&nbsp;Intel \* | 186 | 7438 |
| &nbsp;&nbsp;&nbsp;International Business Machines | 40 | 12296 |
| &nbsp;&nbsp;&nbsp;Intuit | 12 | 8011 |
| &nbsp;&nbsp;&nbsp;Jabil | 5 | 1104 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies \* | 7 | 1281 |
| &nbsp;&nbsp;&nbsp;KLA | 6 | 7252 |
| &nbsp;&nbsp;&nbsp;Lam Research | 54 | 8503 |
| &nbsp;&nbsp;&nbsp;Microchip Technology | 23 | 1436 |
| &nbsp;&nbsp;&nbsp;Micron Technology | 48 | 10741 |
| &nbsp;&nbsp;&nbsp;Microsoft | 316 | 163628 |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems | 2 | 2010 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions | 7 | 2847 |
| &nbsp;&nbsp;&nbsp;NetApp | 8 | 942 |
| &nbsp;&nbsp;&nbsp;NVIDIA | 1037 | 209982 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor \* | 18 | 901 |
| &nbsp;&nbsp;&nbsp;Oracle | 70 | 18383 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Cl A \* | 97 | 19446 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks \* | 28 | 6167 |
| &nbsp;&nbsp;&nbsp;PTC \* | 5 | 993 |
| &nbsp;&nbsp;&nbsp;QUALCOMM | 46 | 8321 |
| &nbsp;&nbsp;&nbsp;Roper Technologies | 5 | 2231 |
| &nbsp;&nbsp;&nbsp;Salesforce | 41 | 10677 |
| &nbsp;&nbsp;&nbsp;Seagate Technology Holdings | 9 | 2303 |

---

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

*118*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** | **Global X S&P 500<sup>®</sup> Tail Risk ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;ServiceNow \* | 9 | $8274 |
| &nbsp;&nbsp;&nbsp;Skyworks Solutions | 6 | 466 |
| &nbsp;&nbsp;&nbsp;Super Micro Computer \* | 21 | 1091 |
| &nbsp;&nbsp;&nbsp;Synopsys \* | 8 | 3631 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies \* | 2 | 1054 |
| &nbsp;&nbsp;&nbsp;Teradyne | 8 | 1454 |
| &nbsp;&nbsp;&nbsp;Texas Instruments | 39 | 6297 |
| &nbsp;&nbsp;&nbsp;Trimble \* | 9 | 718 |
| &nbsp;&nbsp;&nbsp;Tyler Technologies \* | 2 | 953 |
| &nbsp;&nbsp;&nbsp;VeriSign | 3 | 719 |
| &nbsp;&nbsp;&nbsp;Western Digital | 14 | 2103 |
| &nbsp;&nbsp;&nbsp;Workday, Cl A \* | 9 | 2159 |
| &nbsp;&nbsp;&nbsp;Zebra Technologies, Cl A \* | 2 | 538 |
|  |  | 890790 |
| Materials — 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;Air Products & Chemicals | 9 | 2183 |
| &nbsp;&nbsp;&nbsp;Albemarle | 5 | 491 |
| &nbsp;&nbsp;&nbsp;Amcor PLC | 72 | 569 |
| &nbsp;&nbsp;&nbsp;Avery Dennison | 3 | 525 |
| &nbsp;&nbsp;&nbsp;Ball | 11 | 517 |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings | 8 | 666 |
| &nbsp;&nbsp;&nbsp;Corteva | 29 | 1782 |
| &nbsp;&nbsp;&nbsp;Dow | 29 | 692 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours | 18 | 1470 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical | 6 | 357 |
| &nbsp;&nbsp;&nbsp;Ecolab | 10 | 2564 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan | 62 | 2585 |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances | 10 | 630 |
| &nbsp;&nbsp;&nbsp;International Paper | 21 | 811 |
| &nbsp;&nbsp;&nbsp;Linde PLC | 20 | 8366 |
| &nbsp;&nbsp;&nbsp;LyondellBasell Industries, Cl A | 10 | 464 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials | 2 | 1226 |
| &nbsp;&nbsp;&nbsp;Mosaic | 13 | 357 |
| &nbsp;&nbsp;&nbsp;Newmont | 47 | 3806 |
| &nbsp;&nbsp;&nbsp;Nucor | 10 | 1501 |
| &nbsp;&nbsp;&nbsp;Packaging Corp of America | 3 | 587 |
| &nbsp;&nbsp;&nbsp;PPG Industries | 9 | 880 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams | 10 | 3449 |

---

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

*119*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** | **Global X S&P 500<sup>®</sup> Tail Risk ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Materials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Smurfit WestRock PLC | 21 | $775 |
| &nbsp;&nbsp;&nbsp;Solstice Advanced Materials \* | 6 | 270 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics | 6 | 941 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials | 6 | 1737 |
|  |  | 40201 |
| Real Estate — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities <sup>‡</sup> | 8 | 466 |
| &nbsp;&nbsp;&nbsp;American Tower <sup>‡</sup> | 19 | 3401 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities <sup>‡</sup> | 6 | 1043 |
| &nbsp;&nbsp;&nbsp;BXP <sup>‡</sup> | 7 | 498 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust <sup>‡</sup> | 5 | 497 |
| &nbsp;&nbsp;&nbsp;CBRE Group, Cl A \* | 13 | 1982 |
| &nbsp;&nbsp;&nbsp;CoStar Group \* | 17 | 1170 |
| &nbsp;&nbsp;&nbsp;Crown Castle <sup>‡</sup> | 19 | 1714 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust <sup>‡</sup> | 14 | 2386 |
| &nbsp;&nbsp;&nbsp;Equinix <sup>‡</sup> | 5 | 4230 |
| &nbsp;&nbsp;&nbsp;Equity Residential <sup>‡</sup> | 15 | 892 |
| &nbsp;&nbsp;&nbsp;Essex Property Trust <sup>‡</sup> | 2 | 503 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage <sup>‡</sup> | 9 | 1202 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust <sup>‡</sup> | 3 | 289 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties <sup>‡</sup> | 33 | 592 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts <sup>‡</sup> | 26 | 416 |
| &nbsp;&nbsp;&nbsp;Invitation Homes <sup>‡</sup> | 24 | 676 |
| &nbsp;&nbsp;&nbsp;Iron Mountain <sup>‡</sup> | 13 | 1338 |
| &nbsp;&nbsp;&nbsp;Kimco Realty <sup>‡</sup> | 33 | 682 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartment Communities <sup>‡</sup> | 5 | 641 |
| &nbsp;&nbsp;&nbsp;ProLogis <sup>‡</sup> | 40 | 4964 |
| &nbsp;&nbsp;&nbsp;Public Storage <sup>‡</sup> | 7 | 1950 |
| &nbsp;&nbsp;&nbsp;Realty Income <sup>‡</sup> | 37 | 2145 |
| &nbsp;&nbsp;&nbsp;Regency Centers <sup>‡</sup> | 8 | 552 |
| &nbsp;&nbsp;&nbsp;SBA Communications, Cl A <sup>‡</sup> | 5 | 957 |
| &nbsp;&nbsp;&nbsp;Simon Property Group <sup>‡</sup> | 13 | 2285 |
| &nbsp;&nbsp;&nbsp;UDR <sup>‡</sup> | 12 | 404 |
| &nbsp;&nbsp;&nbsp;Ventas <sup>‡</sup> | 18 | 1328 |
| &nbsp;&nbsp;&nbsp;VICI Properties, Cl A <sup>‡</sup> | 45 | 1350 |
| &nbsp;&nbsp;&nbsp;Welltower <sup>‡</sup> | 27 | 4888 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser <sup>‡</sup> | 31 | 713 |
|  |  | 46154 |

---

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

*120*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** | **Global X S&P 500<sup>®</sup> Tail Risk ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Utilities — 2.3% |  |  |
| &nbsp;&nbsp;&nbsp;AES | 30 | $416 |
| &nbsp;&nbsp;&nbsp;Alliant Energy | 10 | 668 |
| &nbsp;&nbsp;&nbsp;Ameren | 10 | 1020 |
| &nbsp;&nbsp;&nbsp;American Electric Power | 23 | 2766 |
| &nbsp;&nbsp;&nbsp;American Water Works | 8 | 1027 |
| &nbsp;&nbsp;&nbsp;Atmos Energy | 7 | 1202 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy | 27 | 1033 |
| &nbsp;&nbsp;&nbsp;CMS Energy | 12 | 883 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison | 15 | 1461 |
| &nbsp;&nbsp;&nbsp;Constellation Energy | 14 | 5278 |
| &nbsp;&nbsp;&nbsp;Dominion Energy | 36 | 2113 |
| &nbsp;&nbsp;&nbsp;DTE Energy | 9 | 1220 |
| &nbsp;&nbsp;&nbsp;Duke Energy | 33 | 4102 |
| &nbsp;&nbsp;&nbsp;Edison International | 15 | 831 |
| &nbsp;&nbsp;&nbsp;Entergy | 18 | 1730 |
| &nbsp;&nbsp;&nbsp;Evergy | 11 | 845 |
| &nbsp;&nbsp;&nbsp;Eversource Energy | 15 | 1107 |
| &nbsp;&nbsp;&nbsp;Exelon | 41 | 1891 |
| &nbsp;&nbsp;&nbsp;FirstEnergy | 22 | 1008 |
| &nbsp;&nbsp;&nbsp;NextEra Energy | 89 | 7245 |
| &nbsp;&nbsp;&nbsp;NiSource | 19 | 800 |
| &nbsp;&nbsp;&nbsp;NRG Energy | 8 | 1375 |
| &nbsp;&nbsp;&nbsp;PG&E | 93 | 1484 |
| &nbsp;&nbsp;&nbsp;Pinnacle West Capital | 6 | 531 |
| &nbsp;&nbsp;&nbsp;PPL | 31 | 1132 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group | 21 | 1692 |
| &nbsp;&nbsp;&nbsp;Sempra | 27 | 2482 |
| &nbsp;&nbsp;&nbsp;Southern | 47 | 4420 |
| &nbsp;&nbsp;&nbsp;Vistra | 14 | 2636 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group | 14 | 1564 |
| &nbsp;&nbsp;&nbsp;Xcel Energy | 24 | 1948 |
|  |  | 57910 |
| TOTAL UNITED STATES |  | 2471626 |
| TOTAL COMMON STOCK<br> (Cost $1,765,117) |  | 2476928 |

---

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

*121*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** | **Global X S&P 500<sup>®</sup> Tail Risk ETF** |

---

---

| | |
|:---|:---|
|  | **Value** |
| **PURCHASED OPTIONS — 0.3%**<br> (Cost $18,837) | $6960 |
| TOTAL INVESTMENTS — 99.9%<br> (Cost $1,783,954) | $2483888 |

---

*Percentages are based on Net Assets of $2,486,427.*

*A list of exchange-traded option contracts held by the Fund at October 31, 2025, is as follows:*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> Contracts** | **Notional<br> Amount** | **Exercise<br> Price** | **Expiration<br> Date** | **Value** |
| **PURCHASED OPTIONS — 0.3%** |  |  |  |  |  |
| **Put Options** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Mini-SPX Index | 6 | $410412 | $598.00 | 12/19/2025 | $1185 |
| &nbsp;&nbsp;&nbsp;S&P 500 Index | 3 | 2052060 | 5980.00 | 12/19/2025 | 5775 |
| &nbsp;&nbsp;&nbsp;Total Purchased Options |  | $2462472 |  |  | $6960 |

---

*\** *Non-income producing security.* <br> *‡* *Real Estate Investment Trust*

*As of October 31, 2025, 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.*

*See "Glossary" for abbreviations.*

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

*122*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** | **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 99.5%** |  |  |
| **NETHERLANDS — 0.1%** |  |  |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors <sup>(A)</sup> | 16 | $3346 |
| **SWITZERLAND — 0.1%** |  |  |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;TE Connectivity PLC <sup>(A)</sup> | 19 | 4693 |
| **UNITED STATES — 99.3%** |  |  |
| Communication Services — 9.9% |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl A <sup>(A)</sup> | 363 | 102072 |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl C <sup>(A)</sup> | 291 | 82010 |
| &nbsp;&nbsp;&nbsp;AT&T <sup>(A)</sup> | 445 | 11014 |
| &nbsp;&nbsp;&nbsp;Charter Communications, Cl A <sup>\*(A)</sup> | 6 | 1403 |
| &nbsp;&nbsp;&nbsp;Comcast, Cl A <sup>(A)</sup> | 235 | 6541 |
| &nbsp;&nbsp;&nbsp;Electronic Arts <sup>(A)</sup> | 14 | 2801 |
| &nbsp;&nbsp;&nbsp;Fox, Cl A <sup>(A)</sup> | 14 | 905 |
| &nbsp;&nbsp;&nbsp;Fox, Cl B <sup>(A)</sup> | 3 | 175 |
| &nbsp;&nbsp;&nbsp;Interpublic Group <sup>(A)</sup> | 27 | 693 |
| &nbsp;&nbsp;&nbsp;Live Nation Entertainment <sup>\*(A)</sup> | 10 | 1495 |
| &nbsp;&nbsp;&nbsp;Match Group <sup>(A)</sup> | 16 | 517 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A <sup>(A)</sup> | 135 | 87527 |
| &nbsp;&nbsp;&nbsp;Netflix <sup>\*(A)</sup> | 26 | 29090 |
| &nbsp;&nbsp;&nbsp;News, Cl A <sup>(A)</sup> | 25 | 663 |
| &nbsp;&nbsp;&nbsp;News, Cl B <sup>(A)</sup> | 8 | 244 |
| &nbsp;&nbsp;&nbsp;Omnicom Group <sup>(A)</sup> | 13 | 975 |
| &nbsp;&nbsp;&nbsp;Paramount Skydance Corp, Cl B | 17 | 262 |
| &nbsp;&nbsp;&nbsp;TKO Group Holdings, Cl A <sup>(A)</sup> | 5 | 942 |
| &nbsp;&nbsp;&nbsp;T-Mobile US <sup>(A)</sup> | 30 | 6302 |
| &nbsp;&nbsp;&nbsp;Trade Desk, Cl A <sup>\*(A)</sup> | 29 | 1458 |
| &nbsp;&nbsp;&nbsp;Verizon Communications <sup>(A)</sup> | 262 | 10412 |
| &nbsp;&nbsp;&nbsp;Walt Disney <sup>(A)</sup> | 112 | 12613 |
| &nbsp;&nbsp;&nbsp;Warner Bros Discovery <sup>\*(A)</sup> | 147 | 3300 |
|  |  | 363414 |
| Consumer Discretionary — 10.4% |  |  |
| &nbsp;&nbsp;&nbsp;Airbnb, Cl A <sup>\*(A)</sup> | 28 | 3543 |
| &nbsp;&nbsp;&nbsp;Amazon.com <sup>\*(A)</sup> | 606 | 147997 |
| &nbsp;&nbsp;&nbsp;APTIV PLC <sup>\*(A)</sup> | 14 | 1135 |

---

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

*123*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** | **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;AutoZone <sup>\*(A)</sup> | 1 | $3674 |
| &nbsp;&nbsp;&nbsp;Best Buy <sup>(A)</sup> | 12 | 986 |
| &nbsp;&nbsp;&nbsp;Booking Holdings <sup>(A)</sup> | 2 | 10156 |
| &nbsp;&nbsp;&nbsp;Carnival <sup>\*(A)</sup> | 70 | 2018 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Cl A <sup>\*(A)</sup> | 87 | 2757 |
| &nbsp;&nbsp;&nbsp;Darden Restaurants <sup>(A)</sup> | 8 | 1441 |
| &nbsp;&nbsp;&nbsp;Deckers Outdoor <sup>\*(A)</sup> | 9 | 734 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza <sup>(A)</sup> | 2 | 797 |
| &nbsp;&nbsp;&nbsp;DoorDash, Cl A <sup>\*(A)</sup> | 21 | 5342 |
| &nbsp;&nbsp;&nbsp;DR Horton <sup>(A)</sup> | 17 | 2534 |
| &nbsp;&nbsp;&nbsp;eBay <sup>(A)</sup> | 28 | 2277 |
| &nbsp;&nbsp;&nbsp;Expedia Group <sup>(A)</sup> | 7 | 1540 |
| &nbsp;&nbsp;&nbsp;Ford Motor <sup>(A)</sup> | 254 | 3335 |
| &nbsp;&nbsp;&nbsp;Garmin <sup>(A)</sup> | 9 | 1925 |
| &nbsp;&nbsp;&nbsp;General Motors <sup>(A)</sup> | 59 | 4076 |
| &nbsp;&nbsp;&nbsp;Genuine Parts <sup>(A)</sup> | 8 | 1019 |
| &nbsp;&nbsp;&nbsp;Hasbro <sup>(A)</sup> | 3 | 229 |
| &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings <sup>(A)</sup> | 15 | 3854 |
| &nbsp;&nbsp;&nbsp;Home Depot <sup>(A)</sup> | 62 | 23535 |
| &nbsp;&nbsp;&nbsp;Las Vegas Sands <sup>(A)</sup> | 19 | 1128 |
| &nbsp;&nbsp;&nbsp;Lennar, Cl A <sup>(A)</sup> | 14 | 1733 |
| &nbsp;&nbsp;&nbsp;LKQ <sup>(A)</sup> | 14 | 447 |
| &nbsp;&nbsp;&nbsp;Lowe's <sup>(A)</sup> | 35 | 8335 |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica <sup>\*(A)</sup> | 6 | 1023 |
| &nbsp;&nbsp;&nbsp;Marriott International, Cl A <sup>(A)</sup> | 14 | 3648 |
| &nbsp;&nbsp;&nbsp;McDonald's <sup>(A)</sup> | 44 | 13131 |
| &nbsp;&nbsp;&nbsp;MGM Resorts International <sup>\*(A)</sup> | 13 | 416 |
| &nbsp;&nbsp;&nbsp;Mohawk Industries <sup>\*(A)</sup> | 2 | 227 |
| &nbsp;&nbsp;&nbsp;NIKE, Cl B <sup>(A)</sup> | 74 | 4780 |
| &nbsp;&nbsp;&nbsp;Norwegian Cruise Line Holdings <sup>\*(A)</sup> | 29 | 650 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive <sup>\*(A)</sup> | 53 | 5005 |
| &nbsp;&nbsp;&nbsp;Pool <sup>(A)</sup> | 2 | 534 |
| &nbsp;&nbsp;&nbsp;PulteGroup <sup>(A)</sup> | 13 | 1558 |
| &nbsp;&nbsp;&nbsp;Ralph Lauren, Cl A <sup>(A)</sup> | 2 | 639 |
| &nbsp;&nbsp;&nbsp;Ross Stores <sup>(A)</sup> | 20 | 3178 |
| &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises <sup>(A)</sup> | 16 | 4589 |
| &nbsp;&nbsp;&nbsp;Starbucks <sup>(A)</sup> | 73 | 5904 |
| &nbsp;&nbsp;&nbsp;Tapestry <sup>(A)</sup> | 13 | 1428 |
| &nbsp;&nbsp;&nbsp;Tesla <sup>\*(A)</sup> | 175 | 79898 |

---

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

*124*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** | **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;TJX <sup>(A)</sup> | 69 | $9670 |
| &nbsp;&nbsp;&nbsp;Tractor Supply <sup>(A)</sup> | 35 | 1894 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty <sup>\*(A)</sup> | 3 | 1560 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma <sup>(A)</sup> | 7 | 1360 |
| &nbsp;&nbsp;&nbsp;Wynn Resorts <sup>(A)</sup> | 6 | 714 |
| &nbsp;&nbsp;&nbsp;Yum! Brands <sup>(A)</sup> | 18 | 2488 |
|  |  | 380841 |
| Consumer Staples — 4.7% |  |  |
| &nbsp;&nbsp;&nbsp;Altria Group <sup>(A)</sup> | 104 | 5863 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland <sup>(A)</sup> | 23 | 1392 |
| &nbsp;&nbsp;&nbsp;Brown-Forman, Cl B <sup>(A)</sup> | 12 | 327 |
| &nbsp;&nbsp;&nbsp;Bunge Global <sup>(A)</sup> | 3 | 284 |
| &nbsp;&nbsp;&nbsp;Church & Dwight <sup>(A)</sup> | 16 | 1403 |
| &nbsp;&nbsp;&nbsp;Clorox <sup>(A)</sup> | 9 | 1012 |
| &nbsp;&nbsp;&nbsp;Coca-Cola <sup>(A)</sup> | 241 | 16605 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive <sup>(A)</sup> | 50 | 3852 |
| &nbsp;&nbsp;&nbsp;Conagra Brands <sup>(A)</sup> | 34 | 584 |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Cl A <sup>(A)</sup> | 10 | 1314 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale <sup>(A)</sup> | 28 | 25521 |
| &nbsp;&nbsp;&nbsp;Dollar General <sup>(A)</sup> | 13 | 1283 |
| &nbsp;&nbsp;&nbsp;Dollar Tree <sup>\*(A)</sup> | 13 | 1289 |
| &nbsp;&nbsp;&nbsp;Estee Lauder, Cl A <sup>(A)</sup> | 13 | 1257 |
| &nbsp;&nbsp;&nbsp;General Mills <sup>(A)</sup> | 36 | 1678 |
| &nbsp;&nbsp;&nbsp;Hershey <sup>(A)</sup> | 10 | 1696 |
| &nbsp;&nbsp;&nbsp;Hormel Foods <sup>(A)</sup> | 24 | 518 |
| &nbsp;&nbsp;&nbsp;J M Smucker <sup>(A)</sup> | 8 | 828 |
| &nbsp;&nbsp;&nbsp;Kellanova <sup>(A)</sup> | 18 | 1495 |
| &nbsp;&nbsp;&nbsp;Kenvue <sup>(A)</sup> | 128 | 1839 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper <sup>(A)</sup> | 74 | 2010 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark <sup>(A)</sup> | 22 | 2634 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz <sup>(A)</sup> | 59 | 1459 |
| &nbsp;&nbsp;&nbsp;Kroger <sup>(A)</sup> | 37 | 2354 |
| &nbsp;&nbsp;&nbsp;Lamb Weston Holdings <sup>(A)</sup> | 11 | 679 |
| &nbsp;&nbsp;&nbsp;McCormick <sup>(A)</sup> | 17 | 1091 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage, Cl B <sup>(A)</sup> | 12 | 525 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Cl A <sup>(A)</sup> | 81 | 4654 |
| &nbsp;&nbsp;&nbsp;Monster Beverage <sup>\*(A)</sup> | 47 | 3141 |
| &nbsp;&nbsp;&nbsp;PepsiCo <sup>(A)</sup> | 85 | 12418 |

---

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

*125*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** | **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Staples — continued |  |  |
| &nbsp;&nbsp;&nbsp;Philip Morris International <sup>(A)</sup> | 97 | $14000 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble <sup>(A)</sup> | 146 | 21954 |
| &nbsp;&nbsp;&nbsp;Sysco <sup>(A)</sup> | 29 | 2154 |
| &nbsp;&nbsp;&nbsp;Target <sup>(A)</sup> | 30 | 2782 |
| &nbsp;&nbsp;&nbsp;The Campbell's Company <sup>(A)</sup> | 14 | 422 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Cl A <sup>(A)</sup> | 21 | 1080 |
| &nbsp;&nbsp;&nbsp;Walmart <sup>(A)</sup> | 273 | 27622 |
|  |  | 171019 |
| Energy — 2.8% |  |  |
| &nbsp;&nbsp;&nbsp;APA <sup>(A)</sup> | 19 | 430 |
| &nbsp;&nbsp;&nbsp;Baker Hughes, Cl A <sup>(A)</sup> | 62 | 3001 |
| &nbsp;&nbsp;&nbsp;Chevron <sup>(A)</sup> | 120 | 18926 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips <sup>(A)</sup> | 78 | 6931 |
| &nbsp;&nbsp;&nbsp;Coterra Energy <sup>(A)</sup> | 50 | 1183 |
| &nbsp;&nbsp;&nbsp;Devon Energy <sup>(A)</sup> | 34 | 1105 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy <sup>(A)</sup> | 12 | 1718 |
| &nbsp;&nbsp;&nbsp;EOG Resources <sup>(A)</sup> | 34 | 3599 |
| &nbsp;&nbsp;&nbsp;EQT <sup>(A)</sup> | 38 | 2036 |
| &nbsp;&nbsp;&nbsp;Expand Energy <sup>(A)</sup> | 13 | 1343 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil <sup>(A)</sup> | 266 | 30420 |
| &nbsp;&nbsp;&nbsp;Halliburton <sup>(A)</sup> | 52 | 1396 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan <sup>(A)</sup> | 121 | 3169 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum <sup>(A)</sup> | 19 | 3703 |
| &nbsp;&nbsp;&nbsp;Occidental Petroleum <sup>(A)</sup> | 45 | 1854 |
| &nbsp;&nbsp;&nbsp;ONEOK <sup>(A)</sup> | 41 | 2747 |
| &nbsp;&nbsp;&nbsp;Phillips 66 <sup>(A)</sup> | 25 | 3403 |
| &nbsp;&nbsp;&nbsp;SLB LTD <sup>(A)</sup> | 83 | 2993 |
| &nbsp;&nbsp;&nbsp;Targa Resources <sup>(A)</sup> | 14 | 2157 |
| &nbsp;&nbsp;&nbsp;Texas Pacific Land <sup>(A)</sup> | 1 | 943 |
| &nbsp;&nbsp;&nbsp;Valero Energy <sup>(A)</sup> | 19 | 3222 |
| &nbsp;&nbsp;&nbsp;Williams <sup>(A)</sup> | 72 | 4167 |
|  |  | 100446 |
| Financials — 12.8% |  |  |
| &nbsp;&nbsp;&nbsp;Aflac <sup>(A)</sup> | 30 | 3216 |
| &nbsp;&nbsp;&nbsp;Allstate <sup>(A)</sup> | 17 | 3256 |
| &nbsp;&nbsp;&nbsp;American Express <sup>(A)</sup> | 34 | 12265 |
| &nbsp;&nbsp;&nbsp;American International Group <sup>(A)</sup> | 34 | 2685 |

---

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

*126*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** | **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial <sup>(A)</sup> | 6 | $2717 |
| &nbsp;&nbsp;&nbsp;Aon PLC, Cl A <sup>(A)</sup> | 13 | 4429 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management <sup>(A)</sup> | 29 | 3605 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group <sup>(A)</sup> | 24 | 2071 |
| &nbsp;&nbsp;&nbsp;Arthur J Gallagher <sup>(A)</sup> | 16 | 3992 |
| &nbsp;&nbsp;&nbsp;Assurant <sup>(A)</sup> | 3 | 635 |
| &nbsp;&nbsp;&nbsp;Bank of America <sup>(A)</sup> | 419 | 22395 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon <sup>(A)</sup> | 44 | 4749 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Cl B <sup>\*(A)</sup> | 114 | 54440 |
| &nbsp;&nbsp;&nbsp;BlackRock Funding <sup>(A)</sup> | 9 | 9745 |
| &nbsp;&nbsp;&nbsp;Blackstone <sup>(A)</sup> | 46 | 6745 |
| &nbsp;&nbsp;&nbsp;Block, Cl A <sup>\*(A)</sup> | 36 | 2734 |
| &nbsp;&nbsp;&nbsp;Brown & Brown <sup>(A)</sup> | 16 | 1276 |
| &nbsp;&nbsp;&nbsp;Capital One Financial <sup>(A)</sup> | 40 | 8800 |
| &nbsp;&nbsp;&nbsp;Cboe Global Markets <sup>(A)</sup> | 6 | 1474 |
| &nbsp;&nbsp;&nbsp;Charles Schwab <sup>(A)</sup> | 106 | 10019 |
| &nbsp;&nbsp;&nbsp;Chubb <sup>(A)</sup> | 23 | 6370 |
| &nbsp;&nbsp;&nbsp;Cincinnati Financial <sup>(A)</sup> | 10 | 1546 |
| &nbsp;&nbsp;&nbsp;Citigroup <sup>(A)</sup> | 114 | 11540 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group <sup>(A)</sup> | 26 | 1323 |
| &nbsp;&nbsp;&nbsp;CME Group, Cl A <sup>(A)</sup> | 23 | 6106 |
| &nbsp;&nbsp;&nbsp;Coinbase Global, Cl A <sup>\*(A)</sup> | 14 | 4813 |
| &nbsp;&nbsp;&nbsp;Corpay <sup>\*(A)</sup> | 4 | 1041 |
| &nbsp;&nbsp;&nbsp;Erie Indemnity, Cl A <sup>(A)</sup> | 2 | 585 |
| &nbsp;&nbsp;&nbsp;Everest Group <sup>(A)</sup> | 3 | 944 |
| &nbsp;&nbsp;&nbsp;FactSet Research Systems <sup>(A)</sup> | 2 | 534 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services <sup>(A)</sup> | 32 | 2001 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp <sup>(A)</sup> | 36 | 1498 |
| &nbsp;&nbsp;&nbsp;Fiserv <sup>\*(A)</sup> | 35 | 2334 |
| &nbsp;&nbsp;&nbsp;Franklin Resources <sup>(A)</sup> | 26 | 588 |
| &nbsp;&nbsp;&nbsp;Global Payments <sup>(A)</sup> | 17 | 1322 |
| &nbsp;&nbsp;&nbsp;Globe Life <sup>(A)</sup> | 6 | 789 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group <sup>(A)</sup> | 19 | 14998 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group <sup>(A)</sup> | 17 | 2111 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares <sup>(A)</sup> | 95 | 1467 |
| &nbsp;&nbsp;&nbsp;Interactive Brokers Group, Cl A <sup>(A)</sup> | 28 | 1970 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange <sup>(A)</sup> | 35 | 5120 |
| &nbsp;&nbsp;&nbsp;Invesco <sup>(A)</sup> | 26 | 616 |
| &nbsp;&nbsp;&nbsp;Jack Henry & Associates <sup>(A)</sup> | 5 | 745 |

---

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

*127*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** | **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase <sup>(A)</sup> | 171 | $53201 |
| &nbsp;&nbsp;&nbsp;KeyCorp <sup>(A)</sup> | 61 | 1073 |
| &nbsp;&nbsp;&nbsp;KKR <sup>(A)</sup> | 42 | 4970 |
| &nbsp;&nbsp;&nbsp;Loews <sup>(A)</sup> | 12 | 1195 |
| &nbsp;&nbsp;&nbsp;M&T Bank <sup>(A)</sup> | 10 | 1839 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan <sup>(A)</sup> | 30 | 5344 |
| &nbsp;&nbsp;&nbsp;Mastercard, Cl A <sup>(A)</sup> | 51 | 28151 |
| &nbsp;&nbsp;&nbsp;MetLife <sup>(A)</sup> | 37 | 2953 |
| &nbsp;&nbsp;&nbsp;Moody's <sup>(A)</sup> | 10 | 4803 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley <sup>(A)</sup> | 75 | 12300 |
| &nbsp;&nbsp;&nbsp;MSCI, Cl A <sup>(A)</sup> | 5 | 2943 |
| &nbsp;&nbsp;&nbsp;Nasdaq <sup>(A)</sup> | 27 | 2308 |
| &nbsp;&nbsp;&nbsp;Northern Trust <sup>(A)</sup> | 13 | 1673 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings <sup>\*(A)</sup> | 62 | 4295 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group <sup>(A)</sup> | 24 | 4381 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group <sup>(A)</sup> | 14 | 1177 |
| &nbsp;&nbsp;&nbsp;Progressive <sup>(A)</sup> | 36 | 7416 |
| &nbsp;&nbsp;&nbsp;Prudential Financial <sup>(A)</sup> | 22 | 2288 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial <sup>(A)</sup> | 12 | 1904 |
| &nbsp;&nbsp;&nbsp;Regions Financial <sup>(A)</sup> | 60 | 1452 |
| &nbsp;&nbsp;&nbsp;Robinhood Markets, Cl A <sup>\*(A)</sup> | 48 | 7045 |
| &nbsp;&nbsp;&nbsp;S&P Global <sup>(A)</sup> | 19 | 9257 |
| &nbsp;&nbsp;&nbsp;State Street <sup>(A)</sup> | 18 | 2082 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial <sup>(A)</sup> | 23 | 1711 |
| &nbsp;&nbsp;&nbsp;T Rowe Price Group <sup>(A)</sup> | 14 | 1435 |
| &nbsp;&nbsp;&nbsp;Travelers <sup>(A)</sup> | 14 | 3761 |
| &nbsp;&nbsp;&nbsp;Truist Financial <sup>(A)</sup> | 80 | 3570 |
| &nbsp;&nbsp;&nbsp;US Bancorp <sup>(A)</sup> | 96 | 4481 |
| &nbsp;&nbsp;&nbsp;Visa, Cl A <sup>(A)</sup> | 106 | 36118 |
| &nbsp;&nbsp;&nbsp;W R Berkley <sup>(A)</sup> | 21 | 1498 |
| &nbsp;&nbsp;&nbsp;Wells Fargo <sup>(A)</sup> | 199 | 17307 |
| &nbsp;&nbsp;&nbsp;Willis Towers Watson PLC <sup>(A)</sup> | 6 | 1879 |
|  |  | 467419 |
| Health Care — 8.9% |  |  |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories <sup>(A)</sup> | 108 | 13351 |
| &nbsp;&nbsp;&nbsp;AbbVie <sup>(A)</sup> | 110 | 23984 |
| &nbsp;&nbsp;&nbsp;Agilent Technologies <sup>(A)</sup> | 17 | 2488 |
| &nbsp;&nbsp;&nbsp;Align Technology <sup>\*(A)</sup> | 5 | 689 |

---

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

*128*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** | **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Amgen <sup>(A)</sup> | 33 | $9848 |
| &nbsp;&nbsp;&nbsp;Baxter International <sup>(A)</sup> | 35 | 646 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson <sup>(A)</sup> | 18 | 3217 |
| &nbsp;&nbsp;&nbsp;Biogen <sup>\*(A)</sup> | 10 | 1543 |
| &nbsp;&nbsp;&nbsp;Bio-Techne <sup>(A)</sup> | 11 | 688 |
| &nbsp;&nbsp;&nbsp;Boston Scientific <sup>\*(A)</sup> | 92 | 9266 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb <sup>(A)</sup> | 126 | 5805 |
| &nbsp;&nbsp;&nbsp;Cardinal Health <sup>(A)</sup> | 16 | 3052 |
| &nbsp;&nbsp;&nbsp;Cencora <sup>(A)</sup> | 11 | 3716 |
| &nbsp;&nbsp;&nbsp;Centene <sup>\*(A)</sup> | 26 | 920 |
| &nbsp;&nbsp;&nbsp;Charles River Laboratories International <sup>\*(A)</sup> | 4 | 720 |
| &nbsp;&nbsp;&nbsp;Cigna Group <sup>(A)</sup> | 17 | 4155 |
| &nbsp;&nbsp;&nbsp;Cooper <sup>\*(A)</sup> | 12 | 839 |
| &nbsp;&nbsp;&nbsp;CVS Health <sup>(A)</sup> | 79 | 6174 |
| &nbsp;&nbsp;&nbsp;Danaher <sup>(A)</sup> | 40 | 8615 |
| &nbsp;&nbsp;&nbsp;DaVita <sup>\*(A)</sup> | 3 | 357 |
| &nbsp;&nbsp;&nbsp;Dexcom <sup>\*(A)</sup> | 25 | 1456 |
| &nbsp;&nbsp;&nbsp;Edwards Lifesciences <sup>\*(A)</sup> | 37 | 3051 |
| &nbsp;&nbsp;&nbsp;Elevance Health <sup>(A)</sup> | 14 | 4441 |
| &nbsp;&nbsp;&nbsp;Eli Lilly <sup>(A)</sup> | 50 | 43143 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies <sup>(A)</sup> | 30 | 2249 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences <sup>(A)</sup> | 77 | 9224 |
| &nbsp;&nbsp;&nbsp;HCA Healthcare <sup>(A)</sup> | 10 | 4597 |
| &nbsp;&nbsp;&nbsp;Henry Schein <sup>\*(A)</sup> | 6 | 379 |
| &nbsp;&nbsp;&nbsp;Hologic <sup>\*(A)</sup> | 13 | 961 |
| &nbsp;&nbsp;&nbsp;Humana <sup>(A)</sup> | 8 | 2226 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories <sup>\*(A)</sup> | 5 | 3148 |
| &nbsp;&nbsp;&nbsp;Incyte <sup>\*(A)</sup> | 11 | 1028 |
| &nbsp;&nbsp;&nbsp;Insulet <sup>\*(A)</sup> | 4 | 1252 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical <sup>\*(A)</sup> | 22 | 11754 |
| &nbsp;&nbsp;&nbsp;IQVIA Holdings <sup>\*(A)</sup> | 10 | 2165 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson <sup>(A)</sup> | 150 | 28331 |
| &nbsp;&nbsp;&nbsp;Labcorp Holdings <sup>(A)</sup> | 5 | 1270 |
| &nbsp;&nbsp;&nbsp;McKesson <sup>(A)</sup> | 8 | 6491 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC <sup>(A)</sup> | 80 | 7256 |
| &nbsp;&nbsp;&nbsp;Merck <sup>(A)</sup> | 155 | 13327 |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International <sup>\*(A)</sup> | 1 | 1416 |
| &nbsp;&nbsp;&nbsp;Moderna <sup>\*(A)</sup> | 25 | 679 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare <sup>\*(A)</sup> | 4 | 612 |

---

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

*129*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** | **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Pfizer <sup>(A)</sup> | 360 | $8874 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics <sup>(A)</sup> | 7 | 1232 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals <sup>(A)</sup> | 6 | 3911 |
| &nbsp;&nbsp;&nbsp;ResMed <sup>(A)</sup> | 9 | 2222 |
| &nbsp;&nbsp;&nbsp;Revvity <sup>(A)</sup> | 9 | 842 |
| &nbsp;&nbsp;&nbsp;Solventum <sup>\*(A)</sup> | 9 | 621 |
| &nbsp;&nbsp;&nbsp;STERIS PLC <sup>(A)</sup> | 6 | 1414 |
| &nbsp;&nbsp;&nbsp;Stryker <sup>(A)</sup> | 21 | 7481 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific <sup>(A)</sup> | 23 | 13050 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group <sup>(A)</sup> | 56 | 19127 |
| &nbsp;&nbsp;&nbsp;Universal Health Services, Cl B <sup>(A)</sup> | 4 | 868 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals <sup>\*(A)</sup> | 16 | 6809 |
| &nbsp;&nbsp;&nbsp;Viatris <sup>(A)</sup> | 57 | 591 |
| &nbsp;&nbsp;&nbsp;Waters <sup>\*(A)</sup> | 4 | 1398 |
| &nbsp;&nbsp;&nbsp;West Pharmaceutical Services <sup>(A)</sup> | 5 | 1410 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings <sup>(A)</sup> | 13 | 1307 |
| &nbsp;&nbsp;&nbsp;Zoetis, Cl A <sup>(A)</sup> | 27 | 3890 |
|  |  | 325576 |
| Industrials — 8.1% |  |  |
| &nbsp;&nbsp;&nbsp;3M <sup>(A)</sup> | 34 | 5661 |
| &nbsp;&nbsp;&nbsp;A O Smith <sup>(A)</sup> | 9 | 594 |
| &nbsp;&nbsp;&nbsp;Allegion PLC <sup>(A)</sup> | 6 | 995 |
| &nbsp;&nbsp;&nbsp;AMETEK <sup>(A)</sup> | 15 | 3032 |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing <sup>(A)</sup> | 25 | 6507 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise <sup>\*(A)</sup> | 5 | 3661 |
| &nbsp;&nbsp;&nbsp;Boeing <sup>\*(A)</sup> | 47 | 9448 |
| &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions <sup>(A)</sup> | 8 | 1763 |
| &nbsp;&nbsp;&nbsp;Builders FirstSource <sup>\*(A)</sup> | 6 | 697 |
| &nbsp;&nbsp;&nbsp;Carrier Global <sup>(A)</sup> | 49 | 2915 |
| &nbsp;&nbsp;&nbsp;Caterpillar <sup>(A)</sup> | 29 | 16741 |
| &nbsp;&nbsp;&nbsp;CH Robinson Worldwide <sup>(A)</sup> | 7 | 1078 |
| &nbsp;&nbsp;&nbsp;Cintas <sup>(A)</sup> | 21 | 3849 |
| &nbsp;&nbsp;&nbsp;Copart <sup>\*(A)</sup> | 59 | 2538 |
| &nbsp;&nbsp;&nbsp;CSX <sup>(A)</sup> | 116 | 4178 |
| &nbsp;&nbsp;&nbsp;Cummins <sup>(A)</sup> | 9 | 3939 |
| &nbsp;&nbsp;&nbsp;Dayforce <sup>\*(A)</sup> | 10 | 687 |
| &nbsp;&nbsp;&nbsp;Deere <sup>(A)</sup> | 16 | 7386 |
| &nbsp;&nbsp;&nbsp;Delta Air Lines <sup>(A)</sup> | 43 | 2467 |

---

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

*130*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** | **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Dover <sup>(A)</sup> | 8 | $1452 |
| &nbsp;&nbsp;&nbsp;Eaton PLC <sup>(A)</sup> | 24 | 9157 |
| &nbsp;&nbsp;&nbsp;EMCOR Group <sup>(A)</sup> | 3 | 2027 |
| &nbsp;&nbsp;&nbsp;Emerson Electric <sup>(A)</sup> | 35 | 4885 |
| &nbsp;&nbsp;&nbsp;Equifax <sup>(A)</sup> | 7 | 1478 |
| &nbsp;&nbsp;&nbsp;Expeditors International of Washington <sup>(A)</sup> | 8 | 975 |
| &nbsp;&nbsp;&nbsp;Fastenal <sup>(A)</sup> | 74 | 3045 |
| &nbsp;&nbsp;&nbsp;FedEx <sup>(A)</sup> | 14 | 3553 |
| &nbsp;&nbsp;&nbsp;Fortive <sup>(A)</sup> | 23 | 1158 |
| &nbsp;&nbsp;&nbsp;GE Aerospace <sup>(A)</sup> | 66 | 20391 |
| &nbsp;&nbsp;&nbsp;GE Vernova <sup>(A)</sup> | 17 | 9947 |
| &nbsp;&nbsp;&nbsp;Generac Holdings <sup>\*(A)</sup> | 4 | 672 |
| &nbsp;&nbsp;&nbsp;General Dynamics <sup>(A)</sup> | 16 | 5518 |
| &nbsp;&nbsp;&nbsp;Honeywell International <sup>(A)</sup> | 39 | 7852 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace <sup>(A)</sup> | 25 | 5149 |
| &nbsp;&nbsp;&nbsp;Hubbell, Cl B <sup>(A)</sup> | 3 | 1410 |
| &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries <sup>(A)</sup> | 3 | 966 |
| &nbsp;&nbsp;&nbsp;IDEX <sup>(A)</sup> | 5 | 857 |
| &nbsp;&nbsp;&nbsp;Illinois Tool Works <sup>(A)</sup> | 17 | 4147 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand <sup>(A)</sup> | 22 | 1679 |
| &nbsp;&nbsp;&nbsp;Jacobs Solutions <sup>(A)</sup> | 7 | 1091 |
| &nbsp;&nbsp;&nbsp;JB Hunt Transport Services <sup>(A)</sup> | 5 | 844 |
| &nbsp;&nbsp;&nbsp;Johnson Controls International <sup>(A)</sup> | 42 | 4804 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies <sup>(A)</sup> | 12 | 3469 |
| &nbsp;&nbsp;&nbsp;Lennox International <sup>(A)</sup> | 2 | 1010 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin <sup>(A)</sup> | 13 | 6394 |
| &nbsp;&nbsp;&nbsp;Masco <sup>(A)</sup> | 13 | 842 |
| &nbsp;&nbsp;&nbsp;Nordson <sup>(A)</sup> | 4 | 928 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern <sup>(A)</sup> | 14 | 3967 |
| &nbsp;&nbsp;&nbsp;Northrop Grumman <sup>(A)</sup> | 8 | 4668 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line <sup>(A)</sup> | 12 | 1685 |
| &nbsp;&nbsp;&nbsp;Otis Worldwide <sup>(A)</sup> | 26 | 2412 |
| &nbsp;&nbsp;&nbsp;PACCAR <sup>(A)</sup> | 32 | 3149 |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin <sup>(A)</sup> | 8 | 6183 |
| &nbsp;&nbsp;&nbsp;Paychex <sup>(A)</sup> | 20 | 2341 |
| &nbsp;&nbsp;&nbsp;Paycom Software <sup>(A)</sup> | 3 | 561 |
| &nbsp;&nbsp;&nbsp;Pentair PLC <sup>(A)</sup> | 11 | 1170 |
| &nbsp;&nbsp;&nbsp;Quanta Services <sup>(A)</sup> | 9 | 4042 |
| &nbsp;&nbsp;&nbsp;Republic Services, Cl A <sup>(A)</sup> | 13 | 2707 |

---

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

*131*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** | **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Rockwell Automation <sup>(A)</sup> | 7 | $2578 |
| &nbsp;&nbsp;&nbsp;Rollins <sup>(A)</sup> | 20 | 1152 |
| &nbsp;&nbsp;&nbsp;RTX <sup>(A)</sup> | 83 | 14815 |
| &nbsp;&nbsp;&nbsp;Snap-On <sup>(A)</sup> | 3 | 1007 |
| &nbsp;&nbsp;&nbsp;Southwest Airlines <sup>(A)</sup> | 38 | 1151 |
| &nbsp;&nbsp;&nbsp;Stanley Black & Decker <sup>(A)</sup> | 10 | 677 |
| &nbsp;&nbsp;&nbsp;Textron <sup>(A)</sup> | 12 | 970 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC <sup>(A)</sup> | 14 | 6281 |
| &nbsp;&nbsp;&nbsp;TransDigm Group <sup>(A)</sup> | 3 | 3926 |
| &nbsp;&nbsp;&nbsp;Uber Technologies <sup>\*(A)</sup> | 130 | 12545 |
| &nbsp;&nbsp;&nbsp;Union Pacific <sup>(A)</sup> | 37 | 8154 |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings <sup>\*(A)</sup> | 20 | 1881 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Cl B <sup>(A)</sup> | 48 | 4628 |
| &nbsp;&nbsp;&nbsp;United Rentals <sup>(A)</sup> | 4 | 3485 |
| &nbsp;&nbsp;&nbsp;Veralto <sup>(A)</sup> | 16 | 1579 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Cl A <sup>(A)</sup> | 8 | 1750 |
| &nbsp;&nbsp;&nbsp;Wabtec <sup>(A)</sup> | 11 | 2249 |
| &nbsp;&nbsp;&nbsp;Waste Management <sup>(A)</sup> | 23 | 4595 |
| &nbsp;&nbsp;&nbsp;WW Grainger <sup>(A)</sup> | 3 | 2937 |
| &nbsp;&nbsp;&nbsp;Xylem <sup>(A)</sup> | 16 | 2414 |
|  |  | 295495 |
| Information Technology — 35.9% |  |  |
| &nbsp;&nbsp;&nbsp;Accenture PLC, Cl A <sup>(A)</sup> | 39 | 9754 |
| &nbsp;&nbsp;&nbsp;Adobe <sup>\*(A)</sup> | 26 | 8848 |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices <sup>\*(A)</sup> | 102 | 26124 |
| &nbsp;&nbsp;&nbsp;Akamai Technologies <sup>\*(A)</sup> | 11 | 826 |
| &nbsp;&nbsp;&nbsp;Amphenol, Cl A <sup>(A)</sup> | 76 | 10590 |
| &nbsp;&nbsp;&nbsp;Analog Devices <sup>(A)</sup> | 31 | 7258 |
| &nbsp;&nbsp;&nbsp;Apple <sup>(A)</sup> | 926 | 250363 |
| &nbsp;&nbsp;&nbsp;Applied Materials <sup>(A)</sup> | 50 | 11655 |
| &nbsp;&nbsp;&nbsp;AppLovin, Cl A <sup>\*(A)</sup> | 17 | 10835 |
| &nbsp;&nbsp;&nbsp;Arista Networks <sup>\*(A)</sup> | 64 | 10092 |
| &nbsp;&nbsp;&nbsp;Autodesk <sup>\*(A)</sup> | 13 | 3917 |
| &nbsp;&nbsp;&nbsp;Broadcom <sup>(A)</sup> | 293 | 108302 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems <sup>\*(A)</sup> | 17 | 5758 |
| &nbsp;&nbsp;&nbsp;CDW <sup>(A)</sup> | 9 | 1434 |
| &nbsp;&nbsp;&nbsp;Cisco Systems <sup>(A)</sup> | 247 | 18058 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions, Cl A <sup>(A)</sup> | 30 | 2186 |

---

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

*132*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** | **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;Corning <sup>(A)</sup> | 49 | $4365 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Cl A <sup>\*(A)</sup> | 15 | 8145 |
| &nbsp;&nbsp;&nbsp;Datadog, Cl A <sup>\*(A)</sup> | 20 | 3256 |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Cl C <sup>(A)</sup> | 18 | 2916 |
| &nbsp;&nbsp;&nbsp;EPAM Systems <sup>\*(A)</sup> | 4 | 654 |
| &nbsp;&nbsp;&nbsp;F5 <sup>\*(A)</sup> | 4 | 1012 |
| &nbsp;&nbsp;&nbsp;Fair Isaac <sup>\*(A)</sup> | 1 | 1660 |
| &nbsp;&nbsp;&nbsp;First Solar <sup>\*(A)</sup> | 7 | 1869 |
| &nbsp;&nbsp;&nbsp;Fortinet <sup>\*(A)</sup> | 42 | 3630 |
| &nbsp;&nbsp;&nbsp;Gartner <sup>\*(A)</sup> | 5 | 1242 |
| &nbsp;&nbsp;&nbsp;Gen Digital <sup>(A)</sup> | 37 | 975 |
| &nbsp;&nbsp;&nbsp;GoDaddy, Cl A <sup>\*(A)</sup> | 8 | 1065 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise <sup>(A)</sup> | 84 | 2051 |
| &nbsp;&nbsp;&nbsp;HP <sup>(A)</sup> | 64 | 1771 |
| &nbsp;&nbsp;&nbsp;Intel <sup>\*(A)</sup> | 272 | 10877 |
| &nbsp;&nbsp;&nbsp;International Business Machines <sup>(A)</sup> | 58 | 17830 |
| &nbsp;&nbsp;&nbsp;Intuit <sup>(A)</sup> | 17 | 11348 |
| &nbsp;&nbsp;&nbsp;Jabil <sup>(A)</sup> | 6 | 1325 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies <sup>\*(A)</sup> | 11 | 2013 |
| &nbsp;&nbsp;&nbsp;KLA <sup>(A)</sup> | 8 | 9670 |
| &nbsp;&nbsp;&nbsp;Lam Research <sup>(A)</sup> | 79 | 12439 |
| &nbsp;&nbsp;&nbsp;Leidos Holdings <sup>(A)</sup> | 8 | 1524 |
| &nbsp;&nbsp;&nbsp;Microchip Technology <sup>(A)</sup> | 36 | 2247 |
| &nbsp;&nbsp;&nbsp;Micron Technology <sup>(A)</sup> | 70 | 15664 |
| &nbsp;&nbsp;&nbsp;Microsoft <sup>(A)</sup> | 464 | 240264 |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems <sup>(A)</sup> | 3 | 3015 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions <sup>(A)</sup> | 10 | 4067 |
| &nbsp;&nbsp;&nbsp;NetApp <sup>(A)</sup> | 13 | 1531 |
| &nbsp;&nbsp;&nbsp;NVIDIA <sup>(A)</sup> | 1522 | 308190 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor <sup>\*(A)</sup> | 28 | 1402 |
| &nbsp;&nbsp;&nbsp;Oracle <sup>(A)</sup> | 103 | 27049 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Cl A <sup>\*(A)</sup> | 142 | 28467 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks <sup>\*(A)</sup> | 42 | 9250 |
| &nbsp;&nbsp;&nbsp;PTC <sup>\*(A)</sup> | 7 | 1390 |
| &nbsp;&nbsp;&nbsp;QUALCOMM <sup>(A)</sup> | 67 | 12120 |
| &nbsp;&nbsp;&nbsp;Roper Technologies <sup>(A)</sup> | 7 | 3123 |
| &nbsp;&nbsp;&nbsp;Salesforce <sup>(A)</sup> | 59 | 15364 |
| &nbsp;&nbsp;&nbsp;Seagate Technology Holdings <sup>(A)</sup> | 14 | 3582 |
| &nbsp;&nbsp;&nbsp;ServiceNow <sup>\*(A)</sup> | 13 | 11951 |

---

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

*133*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** | **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;Skyworks Solutions <sup>(A)</sup> | 11 | $855 |
| &nbsp;&nbsp;&nbsp;Super Micro Computer <sup>\*(A)</sup> | 33 | 1715 |
| &nbsp;&nbsp;&nbsp;Synopsys <sup>\*(A)</sup> | 11 | 4992 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software <sup>\*(A)</sup> | 11 | 2820 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies <sup>\*(A)</sup> | 3 | 1581 |
| &nbsp;&nbsp;&nbsp;Teradyne <sup>(A)</sup> | 11 | 1999 |
| &nbsp;&nbsp;&nbsp;Texas Instruments <sup>(A)</sup> | 57 | 9203 |
| &nbsp;&nbsp;&nbsp;Trimble <sup>\*(A)</sup> | 16 | 1276 |
| &nbsp;&nbsp;&nbsp;Tyler Technologies <sup>\*(A)</sup> | 3 | 1429 |
| &nbsp;&nbsp;&nbsp;VeriSign <sup>(A)</sup> | 5 | 1199 |
| &nbsp;&nbsp;&nbsp;Western Digital <sup>(A)</sup> | 23 | 3455 |
| &nbsp;&nbsp;&nbsp;Workday, Cl A <sup>\*(A)</sup> | 14 | 3359 |
| &nbsp;&nbsp;&nbsp;Zebra Technologies, Cl A <sup>\*(A)</sup> | 3 | 808 |
|  |  | 1311004 |
| Materials — 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;Air Products & Chemicals <sup>(A)</sup> | 14 | 3396 |
| &nbsp;&nbsp;&nbsp;Albemarle <sup>(A)</sup> | 9 | 884 |
| &nbsp;&nbsp;&nbsp;Amcor PLC <sup>(A)</sup> | 102 | 806 |
| &nbsp;&nbsp;&nbsp;Avery Dennison <sup>(A)</sup> | 5 | 875 |
| &nbsp;&nbsp;&nbsp;Ball <sup>(A)</sup> | 12 | 564 |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings <sup>(A)</sup> | 12 | 1000 |
| &nbsp;&nbsp;&nbsp;Corteva <sup>(A)</sup> | 39 | 2396 |
| &nbsp;&nbsp;&nbsp;Dow <sup>(A)</sup> | 47 | 1121 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours <sup>(A)</sup> | 26 | 2123 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical <sup>(A)</sup> | 9 | 536 |
| &nbsp;&nbsp;&nbsp;Ecolab <sup>(A)</sup> | 16 | 4102 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan <sup>(A)</sup> | 89 | 3711 |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances <sup>(A)</sup> | 15 | 945 |
| &nbsp;&nbsp;&nbsp;International Paper <sup>(A)</sup> | 33 | 1275 |
| &nbsp;&nbsp;&nbsp;Linde PLC <sup>(A)</sup> | 29 | 12131 |
| &nbsp;&nbsp;&nbsp;LyondellBasell Industries, Cl A <sup>(A)</sup> | 15 | 696 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials <sup>(A)</sup> | 4 | 2452 |
| &nbsp;&nbsp;&nbsp;Mosaic <sup>(A)</sup> | 22 | 604 |
| &nbsp;&nbsp;&nbsp;Newmont <sup>(A)</sup> | 69 | 5587 |
| &nbsp;&nbsp;&nbsp;Nucor <sup>(A)</sup> | 15 | 2251 |
| &nbsp;&nbsp;&nbsp;Packaging Corp of America <sup>(A)</sup> | 6 | 1175 |
| &nbsp;&nbsp;&nbsp;PPG Industries <sup>(A)</sup> | 15 | 1466 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams <sup>(A)</sup> | 14 | 4829 |

---

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

*134*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** | **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Materials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Smurfit WestRock PLC <sup>(A)</sup> | 33 | $1218 |
| &nbsp;&nbsp;&nbsp;Solstice Advanced Materials \* | 10 | 439 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics <sup>(A)</sup> | 8 | 1254 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials <sup>(A)</sup> | 8 | 2316 |
|  |  | 60152 |
| Real Estate — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities <sup>‡(A)</sup> | 11 | 640 |
| &nbsp;&nbsp;&nbsp;American Tower <sup>‡(A)</sup> | 29 | 5190 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities <sup>‡(A)</sup> | 8 | 1391 |
| &nbsp;&nbsp;&nbsp;BXP <sup>‡(A)</sup> | 11 | 783 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust <sup>‡(A)</sup> | 8 | 796 |
| &nbsp;&nbsp;&nbsp;CBRE Group, Cl A <sup>\*(A)</sup> | 18 | 2744 |
| &nbsp;&nbsp;&nbsp;CoStar Group <sup>\*(A)</sup> | 25 | 1720 |
| &nbsp;&nbsp;&nbsp;Crown Castle <sup>‡(A)</sup> | 29 | 2616 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust <sup>‡(A)</sup> | 21 | 3579 |
| &nbsp;&nbsp;&nbsp;Equinix <sup>‡(A)</sup> | 6 | 5076 |
| &nbsp;&nbsp;&nbsp;Equity Residential <sup>‡(A)</sup> | 24 | 1427 |
| &nbsp;&nbsp;&nbsp;Essex Property Trust <sup>‡(A)</sup> | 4 | 1007 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage <sup>‡(A)</sup> | 13 | 1736 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust <sup>‡(A)</sup> | 6 | 577 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties <sup>‡(A)</sup> | 45 | 808 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts <sup>‡(A)</sup> | 48 | 769 |
| &nbsp;&nbsp;&nbsp;Invitation Homes <sup>‡(A)</sup> | 38 | 1070 |
| &nbsp;&nbsp;&nbsp;Iron Mountain <sup>‡(A)</sup> | 20 | 2059 |
| &nbsp;&nbsp;&nbsp;Kimco Realty <sup>‡(A)</sup> | 48 | 992 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartment Communities <sup>‡(A)</sup> | 6 | 769 |
| &nbsp;&nbsp;&nbsp;ProLogis <sup>‡(A)</sup> | 58 | 7197 |
| &nbsp;&nbsp;&nbsp;Public Storage <sup>‡(A)</sup> | 10 | 2786 |
| &nbsp;&nbsp;&nbsp;Realty Income <sup>‡(A)</sup> | 58 | 3363 |
| &nbsp;&nbsp;&nbsp;Regency Centers <sup>‡(A)</sup> | 11 | 759 |
| &nbsp;&nbsp;&nbsp;SBA Communications, Cl A <sup>‡(A)</sup> | 6 | 1149 |
| &nbsp;&nbsp;&nbsp;Simon Property Group <sup>‡(A)</sup> | 19 | 3339 |
| &nbsp;&nbsp;&nbsp;UDR <sup>‡(A)</sup> | 20 | 674 |
| &nbsp;&nbsp;&nbsp;Ventas <sup>‡(A)</sup> | 27 | 1992 |
| &nbsp;&nbsp;&nbsp;VICI Properties, Cl A <sup>‡(A)</sup> | 70 | 2099 |
| &nbsp;&nbsp;&nbsp;Welltower <sup>‡(A)</sup> | 39 | 7061 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser <sup>‡(A)</sup> | 48 | 1104 |
|  |  | 67272 |

---

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

*135*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** | **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Utilities — 2.4% |  |  |
| &nbsp;&nbsp;&nbsp;AES <sup>(A)</sup> | 47 | $652 |
| &nbsp;&nbsp;&nbsp;Alliant Energy <sup>(A)</sup> | 14 | 936 |
| &nbsp;&nbsp;&nbsp;Ameren <sup>(A)</sup> | 18 | 1836 |
| &nbsp;&nbsp;&nbsp;American Electric Power <sup>(A)</sup> | 35 | 4209 |
| &nbsp;&nbsp;&nbsp;American Water Works <sup>(A)</sup> | 12 | 1541 |
| &nbsp;&nbsp;&nbsp;Atmos Energy <sup>(A)</sup> | 11 | 1889 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy <sup>(A)</sup> | 45 | 1721 |
| &nbsp;&nbsp;&nbsp;CMS Energy <sup>(A)</sup> | 21 | 1545 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison <sup>(A)</sup> | 23 | 2240 |
| &nbsp;&nbsp;&nbsp;Constellation Energy <sup>(A)</sup> | 20 | 7540 |
| &nbsp;&nbsp;&nbsp;Dominion Energy <sup>(A)</sup> | 56 | 3287 |
| &nbsp;&nbsp;&nbsp;DTE Energy <sup>(A)</sup> | 13 | 1762 |
| &nbsp;&nbsp;&nbsp;Duke Energy <sup>(A)</sup> | 49 | 6091 |
| &nbsp;&nbsp;&nbsp;Edison International <sup>(A)</sup> | 25 | 1385 |
| &nbsp;&nbsp;&nbsp;Entergy <sup>(A)</sup> | 26 | 2498 |
| &nbsp;&nbsp;&nbsp;Evergy <sup>(A)</sup> | 13 | 999 |
| &nbsp;&nbsp;&nbsp;Eversource Energy <sup>(A)</sup> | 24 | 1771 |
| &nbsp;&nbsp;&nbsp;Exelon <sup>(A)</sup> | 67 | 3090 |
| &nbsp;&nbsp;&nbsp;FirstEnergy <sup>(A)</sup> | 36 | 1650 |
| &nbsp;&nbsp;&nbsp;NextEra Energy <sup>(A)</sup> | 128 | 10419 |
| &nbsp;&nbsp;&nbsp;NiSource <sup>(A)</sup> | 31 | 1305 |
| &nbsp;&nbsp;&nbsp;NRG Energy <sup>(A)</sup> | 13 | 2234 |
| &nbsp;&nbsp;&nbsp;PG&E <sup>(A)</sup> | 144 | 2298 |
| &nbsp;&nbsp;&nbsp;Pinnacle West Capital <sup>(A)</sup> | 9 | 797 |
| &nbsp;&nbsp;&nbsp;PPL <sup>(A)</sup> | 49 | 1789 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group <sup>(A)</sup> | 31 | 2497 |
| &nbsp;&nbsp;&nbsp;Sempra <sup>(A)</sup> | 41 | 3770 |
| &nbsp;&nbsp;&nbsp;Southern <sup>(A)</sup> | 68 | 6395 |
| &nbsp;&nbsp;&nbsp;Vistra <sup>(A)</sup> | 20 | 3766 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group <sup>(A)</sup> | 20 | 2235 |
| &nbsp;&nbsp;&nbsp;Xcel Energy <sup>(A)</sup> | 38 | 3084 |
|  |  | 87231 |
| TOTAL UNITED STATES |  | 3629869 |
| TOTAL COMMON STOCK<br> (Cost $3,115,535) |  | 3637908 |

---

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

*136*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** | **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |

---

---

| | |
|:---|:---|
|  | **Value** |
| **PURCHASED OPTIONS — 0.6%**<br> (Cost $46,351) | $20712 |
| TOTAL INVESTMENTS — 100.1%<br> (Cost $3,161,886) | $3658620 |
| **WRITTEN OPTIONS— (0.2)%**<br> (Premiums Received $(5240)) | $(7054) |

---

Percentages are based on Net Assets of $3,656,314.

*A list of exchange-traded option contracts held by the Fund at October 31, 2025, is as follows:*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> Contracts** | **Notional<br> Amount** | **Exercise<br> Price** | **Expiration<br> Date** | **Value** |
| **PURCHASED OPTIONS — 0.6%** |  |  |  |  |  |
| **Put Options** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Mini-SPX Index | 3 | $205206 | $631.00 | 12/19/2025 | $1187 |
| &nbsp;&nbsp;&nbsp;S&P 500 Index | 5 | 3420100 | 6315.00 | 12/19/2025 | 19525 |
| &nbsp;&nbsp;&nbsp;Total Purchased Options |  | $3625306 |  |  | $20712 |
| **WRITTEN OPTIONS — (0.2)%** |  |  |  |  |  |
| **Call Options** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Mini-SPX Index | (3) | $(205206) | $730.00 | 12/19/2025 | $(479) |
| &nbsp;&nbsp;&nbsp;S&P 500 Index | (5) | (3420100) | 7325.00 | 12/19/2025 | (6575) |
| &nbsp;&nbsp;&nbsp;Total Written Options |  | $(3625306) |  |  | $(7054) |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *‡* | *Real Estate Investment Trust* |
| *(A)* | *All or a portion of these securities have been segregated as collateral for options contracts. The Fair Value of the securities pledged as collateral is $3,637,207.* |

---

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

*137*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** | **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |

---

*The following is a summary of the level of inputs used as of October 31, 2025, in valuing the Fund's investments and other financial instruments carried at value:*

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Investments in Securities* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Common Stock* | $*3637908* | $*—* | $*—* | $*3637908* |
| &nbsp;&nbsp;&nbsp;*Purchased Options* | *20712* | *—* | *—* | *20712* |
| *Total Investments in Securities* | $*3658620* | $*—* | $*—* | $*3658620* |
| *Other Financial Instruments* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Written Options* | $*(7054)* | $*—* | $*—* | $*(7054)* |
| *Total Other Financial Instruments* | $*(7054)* | $*—* | $*—* | $*(7054)* |

---

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

*See "Glossary" for abbreviations.*

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

*138*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Disruptive Materials ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 100.0%** |  |  |
| **AUSTRALIA — 11.5%** |  |  |
| Materials — 11.5% |  |  |
| &nbsp;&nbsp;&nbsp;IGO \* | 25634 | $90116 |
| &nbsp;&nbsp;&nbsp;Lynas Rare Earths \* | 37843 | 377803 |
| &nbsp;&nbsp;&nbsp;Pilbara Minerals \* | 134873 | 291373 |
| &nbsp;&nbsp;&nbsp;Rio Tinto PLC | 5767 | 415674 |
| TOTAL AUSTRALIA |  | 1174966 |
| **CANADA — 3.1%** |  |  |
| Materials — 3.1% |  |  |
| &nbsp;&nbsp;&nbsp;HudBay Minerals | 16431 | 263619 |
| &nbsp;&nbsp;&nbsp;Lithium Americas \* | 8677 | 47870 |
| TOTAL CANADA |  | 311489 |
| **CHILE — 4.2%** |  |  |
| Materials — 4.2% |  |  |
| &nbsp;&nbsp;&nbsp;Antofagasta PLC | 11709 | 429211 |
| **CHINA — 31.2%** |  |  |
| Industrials — 13.2% |  |  |
| &nbsp;&nbsp;&nbsp;Eve Energy, Cl A | 34800 | 406426 |
| &nbsp;&nbsp;&nbsp;Fangda Carbon New Material, Cl A | 104800 | 90641 |
| &nbsp;&nbsp;&nbsp;GEM, Cl A | 196200 | 234704 |
| &nbsp;&nbsp;&nbsp;Guizhou Zhenhua E-chem, Cl A \* | 12168 | 25353 |
| &nbsp;&nbsp;&nbsp;Minmetals New Energy Materia, Cl A \* | 40358 | 41082 |
| &nbsp;&nbsp;&nbsp;XTC New Energy Materials Xiamen, Cl A | 8585 | 100167 |
| &nbsp;&nbsp;&nbsp;Zhejiang Huayou Cobalt, Cl A | 49830 | 453436 |
|  |  | 1351809 |
| Materials — 18.0% |  |  |
| &nbsp;&nbsp;&nbsp;China Northern Rare Earth Group High-Tech, Cl A | 51200 | 365260 |
| &nbsp;&nbsp;&nbsp;China Rare Earth Resources And Technology, Cl A \* | 27900 | 206442 |
| &nbsp;&nbsp;&nbsp;Jiangxi Black Cat Carbon Black, Cl A \* | 17400 | 24333 |
| &nbsp;&nbsp;&nbsp;MMG \* | 171320 | 152315 |
| &nbsp;&nbsp;&nbsp;Nanjing Hanrui Cobalt, Cl A | 8800 | 61346 |
| &nbsp;&nbsp;&nbsp;Shenghe Resources Holding, Cl A | 72700 | 237221 |
| &nbsp;&nbsp;&nbsp;Sinomine Resource Group, Cl A | 24800 | 195865 |

---

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

*139*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Disruptive Materials ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Materials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Weihai Guangwei Composites, Cl A | 35660 | $144147 |
| &nbsp;&nbsp;&nbsp;Western Mining, Cl A | 65400 | 220104 |
| &nbsp;&nbsp;&nbsp;Xiangtan Electrochemical Scientific, Cl A | 17100 | 35486 |
| &nbsp;&nbsp;&nbsp;Youngy, Cl A | 7800 | 52009 |
| &nbsp;&nbsp;&nbsp;Yunnan Chihong Zinc&Germanium, Cl A | 121700 | 115168 |
| &nbsp;&nbsp;&nbsp;Zhongfu Shenying Carbon Fiber, Cl A \* | 6971 | 25232 |
|  |  | 1834928 |
| TOTAL CHINA |  | 3186737 |
| **FRANCE — 0.5%** |  |  |
| Industrials — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Mersen | 956 | 24165 |
| Materials — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;Eramet | 445 | 30509 |
| TOTAL FRANCE |  | 54674 |
| **INDONESIA — 0.4%** |  |  |
| Materials — 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;Nickel Industries | 84094 | 40739 |
| **JAPAN — 4.2%** |  |  |
| Basic Materials — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Pacific Metals | 1869 | 24858 |
| Industrials — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Nippon Carbon | 859 | 24200 |
| Materials — 3.8% |  |  |
| &nbsp;&nbsp;&nbsp;Sumitomo Metal Mining | 9975 | 328734 |
| &nbsp;&nbsp;&nbsp;Tokai Carbon | 8257 | 55393 |
|  |  | 384127 |
| TOTAL JAPAN |  | 433185 |
| **MEXICO — 8.6%** |  |  |
| Materials — 8.6% |  |  |
| &nbsp;&nbsp;&nbsp;Grupo Mexico, Cl B | 49300 | 426842 |

---

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

*140*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Disruptive Materials ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Materials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Southern Copper | 3270 | $453876 |
| TOTAL MEXICO |  | 880718 |
| **SOUTH AFRICA — 17.7%** |  |  |
| Materials — 17.7% |  |  |
| &nbsp;&nbsp;&nbsp;African Rainbow Minerals | 4176 | 41561 |
| &nbsp;&nbsp;&nbsp;Anglo American PLC | 10560 | 398886 |
| &nbsp;&nbsp;&nbsp;Impala Platinum Holdings | 33815 | 363659 |
| &nbsp;&nbsp;&nbsp;Northam Platinum Holdings | 16347 | 273464 |
| &nbsp;&nbsp;&nbsp;Sibanye Stillwater \* | 123015 | 328821 |
| &nbsp;&nbsp;&nbsp;Valterra Platinum Limited | 6494 | 402397 |
| TOTAL SOUTH AFRICA |  | 1808788 |
| **SWEDEN — 4.4%** |  |  |
| Materials — 4.4% |  |  |
| &nbsp;&nbsp;&nbsp;Boliden \* | 10024 | 453020 |
| **UNITED STATES — 14.2%** |  |  |
| Industrials — 2.7% |  |  |
| &nbsp;&nbsp;&nbsp;GrafTech International \* | 2241 | 30254 |
| &nbsp;&nbsp;&nbsp;Hexcel | 3456 | 246758 |
|  |  | 277012 |
| Materials — 11.5% |  |  |
| &nbsp;&nbsp;&nbsp;Albemarle | 4524 | 444392 |
| &nbsp;&nbsp;&nbsp;American Battery Technology \* | 11166 | 57281 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan | 8041 | 335310 |
| &nbsp;&nbsp;&nbsp;MP Materials \* | 5429 | 342516 |
|  |  | 1179499 |
| TOTAL UNITED STATES |  | 1456511 |
| TOTAL COMMON STOCK <br> (Cost $8,960,489) |  | 10230038 |
| TOTAL INVESTMENTS — 100.0% <br> (Cost $8,960,489) |  | $10230038 |

---

*Percentages are based on Net Assets of $10,230,082.*

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

*141*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Disruptive Materials ETF</u>

\* Non-income producing security.

*As of October 31, 2025, 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.*

*See "Glossary" for abbreviations.*

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

*142*

![](logom4.jpg)

---

| | |
|:---|:---|
| Schedule of Investments | October 31, 2025 |
| **Global X Russell 2000 ETF** | **Global X Russell 2000 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 99.8%** |  |  |
| **AUSTRALIA — 0.0%** |  |  |
| Health Care — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Benitec Biopharma \* | 6818 | $111542 |
| **AUSTRIA — 0.0%** |  |  |
| Materials — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Critical Metals \* | 15001 | 194113 |
| **BAHAMAS — 0.1%** |  |  |
| Consumer Discretionary — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;OneSpaWorld Holdings | 44189 | 1028278 |
| **BELGIUM — 0.0%** |  |  |
| Materials — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Titan America SA | 11270 | 166345 |
| **BERMUDA — 0.1%** |  |  |
| Energy — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Teekay | 24201 | 232814 |
| Financials — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Bank of NT Butterfield & Son | 19435 | 899063 |
| &nbsp;&nbsp;&nbsp;Hamilton Insurance Group, Cl B \* | 21367 | 505757 |
| &nbsp;&nbsp;&nbsp;Kestrel Group \* | 1260 | 24998 |
|  |  | 1429818 |
| Industrials — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Himalaya Shipping | 13925 | 109172 |
| TOTAL BERMUDA |  | 1771804 |
| **BRAZIL — 0.2%** |  |  |
| Financials — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Pagseguro Digital, Cl A | 83480 | 800573 |
| &nbsp;&nbsp;&nbsp;StoneCo, Cl A \* | 117026 | 2224664 |
|  |  | 3025237 |

---

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

*143*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;VTEX, Cl A \* | 27085 | $121612 |
| TOTAL BRAZIL |  | 3146849 |
| **CAMEROON — 0.1%** |  |  |
| Energy — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Golar LNG | 46572 | 1911781 |
| **CANADA — 1.3%** |  |  |
| Consumer Staples — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;SunOpta \* | 44398 | 231757 |
| Energy — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Encore Energy \* | 85390 | 263855 |
| &nbsp;&nbsp;&nbsp;Kolibri Global Energy \* | 13926 | 60857 |
| &nbsp;&nbsp;&nbsp;Teekay Tankers, Cl A | 11188 | 682468 |
|  |  | 1007180 |
| Financials — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Kingsway Financial Services \* | 9851 | 140278 |
| Health Care — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Aurinia Pharmaceuticals \* | 54074 | 712155 |
| &nbsp;&nbsp;&nbsp;Bright Minds Biosciences \* | 2152 | 117822 |
| &nbsp;&nbsp;&nbsp;Fennec Pharmaceuticals \* | 10949 | 89782 |
| &nbsp;&nbsp;&nbsp;Tuhura Biosciences \* | 11773 | 30021 |
| &nbsp;&nbsp;&nbsp;Xenon Pharmaceuticals \* | 35398 | 1483884 |
|  |  | 2433664 |
| Industrials — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Brookfield Business, Cl A | 10869 | 396284 |
| Information Technology — 0.6% |  |  |
| &nbsp;&nbsp;&nbsp;D-Wave Quantum \* | 143931 | 5334083 |
| &nbsp;&nbsp;&nbsp;Hut 8 \* | 43905 | 2224227 |
|  |  | 7558310 |
| Materials — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Novagold Resources \* | 141175 | 1170341 |

---

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

*144*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Materials — continued |  |  |
| &nbsp;&nbsp;&nbsp;SSR Mining \* | 94882 | $2140538 |
| &nbsp;&nbsp;&nbsp;US Goldmining \* | 734 | 8478 |
| &nbsp;&nbsp;&nbsp;Vox Royalty | 20747 | 88589 |
|  |  | 3407946 |
| Real Estate — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Real Brokerage \* | 49189 | 182983 |
| Utilities — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Brookfield Infrastructure, Cl A | 56130 | 2543250 |
| TOTAL CANADA |  | 17901652 |
| **CAYMAN ISLANDS — 0.0%** |  |  |
| Financials — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Patria Investments, Cl A | 30053 | 437872 |
| **CHINA — 0.1%** |  |  |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;indie Semiconductor, Cl A \* | 90329 | 485970 |
| &nbsp;&nbsp;&nbsp;Mercurity Fintech Holding \* | 14899 | 155545 |
| TOTAL CHINA |  | 641515 |
| **COSTA RICA — 0.0%** |  |  |
| Real Estate — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Logistic Properties of The Americas \* | 1453 | 4926 |
| **GERMANY — 0.0%** |  |  |
| Materials — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Orion | 25728 | 136358 |
| **GHANA — 0.0%** |  |  |
| Energy — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Kosmos Energy \* | 219987 | 345380 |

---

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

*145*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| **GIBRALTAR — 0.0%** |  |  |
| Consumer Staples — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Forafric Global PLC \* | 1550 | $14477 |
| **GUERNSEY — 0.1%** |  |  |
| Consumer Discretionary — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Super Group SGHC | 74225 | 801630 |
| **HONG KONG — 0.0%** |  |  |
| Financials — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Triller Group \* | 46218 | 26506 |
| **IRELAND — 0.1%** |  |  |
| Energy — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Ardmore Shipping | 16114 | 202875 |
| Health Care — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Prothena PLC \* | 18932 | 203519 |
| Industrials — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Cimpress PLC \* | 6995 | 484124 |
| TOTAL IRELAND |  | 890518 |
| **ISLE OF MAN — 0.0%** |  |  |
| Materials — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Lifezone Metals \* | 12950 | 64361 |
| **ISRAEL — 0.1%** |  |  |
| Communication Services — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Nexxen International ADR \* | 17535 | 144138 |
| Health Care — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;MediWound \* | 3611 | 66189 |
| &nbsp;&nbsp;&nbsp;Nano-X Imaging \* | 30301 | 109993 |
|  |  | 176182 |

---

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

*146*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Sapiens International | 14477 | $623235 |
| TOTAL ISRAEL |  | 943555 |
| **ITALY — 0.0%** |  |  |
| Consumer Discretionary — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Ermenegildo Zegna | 28651 | 292527 |
| **MALTA — 0.0%** |  |  |
| Communication Services — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Gambling.com Group \* | 7845 | 55935 |
| **MEXICO — 0.0%** |  |  |
| Energy — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Borr Drilling | 114790 | 355849 |
| **MONACO — 0.1%** |  |  |
| Energy — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Scorpio Tankers | 20732 | 1279165 |
| Industrials — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Costamare | 20534 | 250925 |
| &nbsp;&nbsp;&nbsp;Costamare Bulkers Holding \* | 4203 | 54387 |
| &nbsp;&nbsp;&nbsp;Safe Bulkers | 26155 | 122667 |
|  |  | 427979 |
| TOTAL MONACO |  | 1707144 |
| **NORWAY — 0.2%** |  |  |
| Energy — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;FLEX LNG | 14519 | 377059 |
| &nbsp;&nbsp;&nbsp;Seadrill \* | 29264 | 923572 |
| &nbsp;&nbsp;&nbsp;SFL, Cl B | 56257 | 419677 |
|  |  | 1720308 |
| Industrials — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;T1 Energy \* | 52074 | 193715 |
| TOTAL NORWAY |  | 1914023 |

---

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

*147*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| **PANAMA — 0.1%** |  |  |
| Financials — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Banco Latinoamericano de Comercio Exterior | 13301 | $572076 |
| **PUERTO RICO — 0.3%** |  |  |
| Communication Services — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Liberty Latin America, Cl A \* | 13767 | 107383 |
| &nbsp;&nbsp;&nbsp;Liberty Latin America, Cl C \* | 59084 | 467354 |
|  |  | 574737 |
| Financials — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;EVERTEC | 29982 | 853588 |
| &nbsp;&nbsp;&nbsp;First BanCorp | 75324 | 1468065 |
| &nbsp;&nbsp;&nbsp;OFG Bancorp | 20784 | 803509 |
|  |  | 3125162 |
| TOTAL PUERTO RICO |  | 3699899 |
| **SINGAPORE — 0.1%** |  |  |
| Communication Services — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Grindr \* | 15426 | 213804 |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Kulicke & Soffa Industries | 24019 | 959079 |
| TOTAL SINGAPORE |  | 1172883 |
| **SOUTH AFRICA — 0.0%** |  |  |
| Materials — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Caledonia Mining PLC | 7693 | 216327 |
| **SOUTH KOREA — 0.0%** |  |  |
| Communication Services — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Webtoon Entertainment \* | 8264 | 144868 |
| **SWEDEN — 0.1%** |  |  |
| Financials — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;SiriusPoint \* | 47744 | 868941 |

---

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

*148*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| **SWITZERLAND — 0.3%** |  |  |
| Consumer Discretionary — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Garrett Motion | 62680 | $1061799 |
| Health Care — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;ADC Therapeutics \* | 33553 | 149646 |
| &nbsp;&nbsp;&nbsp;CRISPR Therapeutics <sup>\*(A)</sup> | 38550 | 2466815 |
|  |  | 2616461 |
| Industrials — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Aebi Schmidt | 17375 | 193731 |
| TOTAL SWITZERLAND |  | 3871991 |
| **THAILAND — 0.6%** |  |  |
| Energy — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;BKV \* | 7774 | 183389 |
| Information Technology — 0.6% |  |  |
| &nbsp;&nbsp;&nbsp;Fabrinet \* | 16832 | 7415674 |
| TOTAL THAILAND |  | 7599063 |
| **UNITED KINGDOM — 0.3%** |  |  |
| Consumer Discretionary — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Genius Sports \* | 101894 | 1147327 |
| Financials — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Fidelis Insurance Holdings | 27126 | 487725 |
| &nbsp;&nbsp;&nbsp;Marex Group PLC | 25073 | 760966 |
|  |  | 1248691 |
| Health Care — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Indivior PLC \* | 56502 | 1659464 |
| Industrials — 0.0% |  |  |
| &nbsp;&nbsp;&nbsp;Luxfer Holdings PLC | 12392 | 151182 |
| TOTAL UNITED KINGDOM |  | 4206664 |

---

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

*149*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| **UNITED STATES — 95.5%** |  |  |
| Communication Services — 2.7% |  |  |
| &nbsp;&nbsp;&nbsp;Advantage Solutions \* | 44460 | $56909 |
| &nbsp;&nbsp;&nbsp;Altice USA, Cl A \* | 121223 | 270327 |
| &nbsp;&nbsp;&nbsp;AMC Entertainment Holdings, Cl A \* | 202726 | 525060 |
| &nbsp;&nbsp;&nbsp;AMC Networks, Cl A \* | 14977 | 113526 |
| &nbsp;&nbsp;&nbsp;Angi, Cl A \* | 18866 | 250352 |
| &nbsp;&nbsp;&nbsp;Anterix \* | 5263 | 106418 |
| &nbsp;&nbsp;&nbsp;Arena Group Holdings \* | 6057 | 33737 |
| &nbsp;&nbsp;&nbsp;Atlanta Braves Holdings, Cl A \* | 3154 | 136064 |
| &nbsp;&nbsp;&nbsp;Atlanta Braves Holdings, Cl C \* | 21514 | 876050 |
| &nbsp;&nbsp;&nbsp;ATN International | 4694 | 68204 |
| &nbsp;&nbsp;&nbsp;Bandwidth, Cl A \* | 12681 | 204798 |
| &nbsp;&nbsp;&nbsp;Boston Omaha, Cl A \* | 10092 | 128370 |
| &nbsp;&nbsp;&nbsp;Bumble, Cl A \* | 33748 | 187301 |
| &nbsp;&nbsp;&nbsp;Cable One | 2407 | 357560 |
| &nbsp;&nbsp;&nbsp;Cargurus, Cl A \* | 38346 | 1346711 |
| &nbsp;&nbsp;&nbsp;Cars.com \* | 26690 | 286651 |
| &nbsp;&nbsp;&nbsp;Cinemark Holdings | 48433 | 1308175 |
| &nbsp;&nbsp;&nbsp;Cogent Communications Holdings | 20972 | 865095 |
| &nbsp;&nbsp;&nbsp;CuriosityStream | 15064 | 65378 |
| &nbsp;&nbsp;&nbsp;EchoStar, Cl A \* | 63196 | 4731485 |
| &nbsp;&nbsp;&nbsp;Emerald Holding | 6357 | 27907 |
| &nbsp;&nbsp;&nbsp;Entravision Communications, Cl A | 28846 | 59711 |
| &nbsp;&nbsp;&nbsp;Eventbrite, Cl A \* | 35136 | 81164 |
| &nbsp;&nbsp;&nbsp;EverQuote, Cl A \* | 12938 | 278685 |
| &nbsp;&nbsp;&nbsp;EW Scripps, Cl A \* | 29092 | 70694 |
| &nbsp;&nbsp;&nbsp;fuboTV, Cl A \* | 154939 | 585669 |
| &nbsp;&nbsp;&nbsp;Gaia, Cl A \* | 8021 | 40025 |
| &nbsp;&nbsp;&nbsp;Gannett \* | 65403 | 346636 |
| &nbsp;&nbsp;&nbsp;Getty Images Holdings <sup>\*(A)</sup> | 51052 | 95978 |
| &nbsp;&nbsp;&nbsp;Globalstar \* | 23368 | 1271453 |
| &nbsp;&nbsp;&nbsp;Gogo \* | 35827 | 326026 |
| &nbsp;&nbsp;&nbsp;Golden Matrix Group \* | 10004 | 10304 |
| &nbsp;&nbsp;&nbsp;Gray Television | 40785 | 186387 |
| &nbsp;&nbsp;&nbsp;Ibotta, Cl A \* | 6523 | 210432 |
| &nbsp;&nbsp;&nbsp;IDT, Cl B | 7545 | 382230 |
| &nbsp;&nbsp;&nbsp;iHeartMedia, Cl A \* | 54829 | 162842 |
| &nbsp;&nbsp;&nbsp;IMAX \* | 20403 | 662893 |
| &nbsp;&nbsp;&nbsp;Integral Ad Science Holding \* | 35355 | 360975 |

---

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

*150*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Communication Services — continued |  |  |
| &nbsp;&nbsp;&nbsp;John Wiley & Sons, Cl A | 19180 | $707167 |
| &nbsp;&nbsp;&nbsp;Lionsgate Studios Corp. \* | 95444 | 613705 |
| &nbsp;&nbsp;&nbsp;Lumen Technologies \* | 444445 | 4568895 |
| &nbsp;&nbsp;&nbsp;Madison Square Garden Entertainment, Cl A \* | 18469 | 815591 |
| &nbsp;&nbsp;&nbsp;Magnite \* | 65222 | 1166169 |
| &nbsp;&nbsp;&nbsp;Marcus | 10741 | 154670 |
| &nbsp;&nbsp;&nbsp;MediaAlpha, Cl A \* | 15442 | 196885 |
| &nbsp;&nbsp;&nbsp;National CineMedia | 29736 | 131433 |
| &nbsp;&nbsp;&nbsp;Newsmax Inc \* | 5142 | 51420 |
| &nbsp;&nbsp;&nbsp;Nextdoor Holdings \* | 97664 | 190445 |
| &nbsp;&nbsp;&nbsp;Playstudios \* | 41442 | 38541 |
| &nbsp;&nbsp;&nbsp;Playtika Holding | 26538 | 97394 |
| &nbsp;&nbsp;&nbsp;PubMatic, Cl A \* | 19353 | 161791 |
| &nbsp;&nbsp;&nbsp;QuinStreet \* | 25229 | 373137 |
| &nbsp;&nbsp;&nbsp;Reservoir Media \* | 9498 | 72185 |
| &nbsp;&nbsp;&nbsp;Rumble <sup>\*(A)</sup> | 49478 | 339419 |
| &nbsp;&nbsp;&nbsp;Scholastic | 9493 | 272164 |
| &nbsp;&nbsp;&nbsp;Shenandoah Telecommunications | 23543 | 290050 |
| &nbsp;&nbsp;&nbsp;Shutterstock | 11320 | 283340 |
| &nbsp;&nbsp;&nbsp;Sinclair | 17907 | 244610 |
| &nbsp;&nbsp;&nbsp;Sphere Entertainment \* | 12945 | 886474 |
| &nbsp;&nbsp;&nbsp;Spok Holdings | 9446 | 134983 |
| &nbsp;&nbsp;&nbsp;Stagwell, Cl A \* | 53512 | 254182 |
| &nbsp;&nbsp;&nbsp;Starz Entertainment Corp \* | 5192 | 54568 |
| &nbsp;&nbsp;&nbsp;Teads Holding \* | 16745 | 24783 |
| &nbsp;&nbsp;&nbsp;Techtarget \* | 13437 | 73769 |
| &nbsp;&nbsp;&nbsp;TEGNA | 74942 | 1474109 |
| &nbsp;&nbsp;&nbsp;Telephone and Data Systems | 46365 | 1799889 |
| &nbsp;&nbsp;&nbsp;Thryv Holdings \* | 17301 | 133391 |
| &nbsp;&nbsp;&nbsp;Travelzoo \* | 2975 | 25049 |
| &nbsp;&nbsp;&nbsp;TripAdvisor \* | 54206 | 870548 |
| &nbsp;&nbsp;&nbsp;TrueCar \* | 36760 | 80872 |
| &nbsp;&nbsp;&nbsp;Uniti Group <sup>‡</sup> \* | 66350 | 382176 |
| &nbsp;&nbsp;&nbsp;Vimeo \* | 68983 | 538067 |
| &nbsp;&nbsp;&nbsp;Vivid Seats, Cl A \* | 1526 | 18938 |
| &nbsp;&nbsp;&nbsp;WideOpenWest \* | 23623 | 121186 |
| &nbsp;&nbsp;&nbsp;Yelp, Cl A \* | 28806 | 950022 |
| &nbsp;&nbsp;&nbsp;Ziff Davis \* | 19442 | 659084 |

---

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

*151*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Communication Services — continued |  |  |
| &nbsp;&nbsp;&nbsp;ZipRecruiter, Cl A \* | 31784 | $147796 |
|  |  | 36477079 |
| Consumer Discretionary — 8.4% |  |  |
| &nbsp;&nbsp;&nbsp;1-800-Flowers.com, Cl A \* | 10247 | 36889 |
| &nbsp;&nbsp;&nbsp;Abercrombie & Fitch, Cl A \* | 21965 | 1593561 |
| &nbsp;&nbsp;&nbsp;Academy Sports & Outdoors | 30907 | 1480136 |
| &nbsp;&nbsp;&nbsp;Accel Entertainment, Cl A \* | 25087 | 255637 |
| &nbsp;&nbsp;&nbsp;Acushnet Holdings | 12854 | 994000 |
| &nbsp;&nbsp;&nbsp;Adient PLC \* | 39213 | 909349 |
| &nbsp;&nbsp;&nbsp;Adtalem Global Education \* | 16539 | 1621153 |
| &nbsp;&nbsp;&nbsp;Advance Auto Parts | 27961 | 1317802 |
| &nbsp;&nbsp;&nbsp;A-Mark Precious Metals | 8803 | 233984 |
| &nbsp;&nbsp;&nbsp;American Axle & Manufacturing Holdings \* | 53637 | 332549 |
| &nbsp;&nbsp;&nbsp;American Eagle Outfitters | 75721 | 1265298 |
| &nbsp;&nbsp;&nbsp;American Outdoor Brands \* | 5733 | 39386 |
| &nbsp;&nbsp;&nbsp;American Public Education \* | 8106 | 271470 |
| &nbsp;&nbsp;&nbsp;America's Car-Mart \* | 3470 | 77173 |
| &nbsp;&nbsp;&nbsp;Arhaus, Cl A \* | 23736 | 237835 |
| &nbsp;&nbsp;&nbsp;Arko | 35636 | 156977 |
| &nbsp;&nbsp;&nbsp;Asbury Automotive Group \* | 9160 | 2148936 |
| &nbsp;&nbsp;&nbsp;Bally's Corporation \* | 3508 | 63881 |
| &nbsp;&nbsp;&nbsp;BARK \* | 43124 | 39148 |
| &nbsp;&nbsp;&nbsp;Barnes & Noble Education \* | 7518 | 68639 |
| &nbsp;&nbsp;&nbsp;Bassett Furniture Industries | 3827 | 56448 |
| &nbsp;&nbsp;&nbsp;Beazer Homes USA \* | 13046 | 292230 |
| &nbsp;&nbsp;&nbsp;Bed Bath & Beyond \* | 25439 | 196135 |
| &nbsp;&nbsp;&nbsp;Biglari Holdings, Cl B \* | 313 | 113090 |
| &nbsp;&nbsp;&nbsp;BJ's Restaurants \* | 9358 | 317798 |
| &nbsp;&nbsp;&nbsp;Bloomin' Brands | 38946 | 266001 |
| &nbsp;&nbsp;&nbsp;Boot Barn Holdings \* | 14330 | 2717684 |
| &nbsp;&nbsp;&nbsp;Brightstar Lottary PLC | 52127 | 868436 |
| &nbsp;&nbsp;&nbsp;Brinker International \* | 20635 | 2242199 |
| &nbsp;&nbsp;&nbsp;Buckle | 14726 | 806985 |
| &nbsp;&nbsp;&nbsp;Build-A-Bear Workshop, Cl A | 5782 | 313500 |
| &nbsp;&nbsp;&nbsp;Caleres | 15316 | 169089 |
| &nbsp;&nbsp;&nbsp;Camping World Holdings, Cl A | 27942 | 367717 |
| &nbsp;&nbsp;&nbsp;Capri Holdings \* | 54211 | 1124878 |
| &nbsp;&nbsp;&nbsp;Carriage Services, Cl A | 6618 | 295825 |

---

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

*152*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;Carter's | 16585 | $520769 |
| &nbsp;&nbsp;&nbsp;Cavco Industries \* | 3564 | 1888207 |
| &nbsp;&nbsp;&nbsp;Century Communities | 12152 | 721829 |
| &nbsp;&nbsp;&nbsp;Champion Homes \* | 26701 | 1821809 |
| &nbsp;&nbsp;&nbsp;Cheesecake Factory <sup>(A)</sup> | 21557 | 1073539 |
| &nbsp;&nbsp;&nbsp;Citi Trends \* | 2232 | 79950 |
| &nbsp;&nbsp;&nbsp;Clarus | 13926 | 46513 |
| &nbsp;&nbsp;&nbsp;Cooper-Standard Holdings \* | 7887 | 238345 |
| &nbsp;&nbsp;&nbsp;Coursera \* | 64285 | 541280 |
| &nbsp;&nbsp;&nbsp;Cracker Barrel Old Country Store <sup>(A)</sup> | 10302 | 347177 |
| &nbsp;&nbsp;&nbsp;Cricut, Cl A | 21342 | 113326 |
| &nbsp;&nbsp;&nbsp;Dana | 61679 | 1252084 |
| &nbsp;&nbsp;&nbsp;Dave & Buster's Entertainment \* | 12608 | 185211 |
| &nbsp;&nbsp;&nbsp;Denny's \* | 23546 | 92065 |
| &nbsp;&nbsp;&nbsp;Designer Brands, Cl A | 15230 | 56199 |
| &nbsp;&nbsp;&nbsp;Dine Brands Global | 7083 | 175092 |
| &nbsp;&nbsp;&nbsp;Dorman Products \* | 12855 | 1724241 |
| &nbsp;&nbsp;&nbsp;Dream Finders Homes, Cl A \* | 13998 | 277160 |
| &nbsp;&nbsp;&nbsp;Driven Brands Holdings \* | 27820 | 399217 |
| &nbsp;&nbsp;&nbsp;El Pollo Loco Holdings \* | 12275 | 125450 |
| &nbsp;&nbsp;&nbsp;Envela \* | 3118 | 28343 |
| &nbsp;&nbsp;&nbsp;Escalade | 4684 | 53913 |
| &nbsp;&nbsp;&nbsp;Ethan Allen Interiors | 10772 | 260359 |
| &nbsp;&nbsp;&nbsp;European Wax Center, Cl A \* | 13769 | 53699 |
| &nbsp;&nbsp;&nbsp;EVgo, Cl A \* | 59242 | 243485 |
| &nbsp;&nbsp;&nbsp;Faraday Future Intelligent Electric \* | 41917 | 57845 |
| &nbsp;&nbsp;&nbsp;Figs, Cl A \* | 41215 | 307464 |
| &nbsp;&nbsp;&nbsp;First Watch Restaurant Group \* | 21049 | 347098 |
| &nbsp;&nbsp;&nbsp;Flexsteel Industries | 1703 | 58226 |
| &nbsp;&nbsp;&nbsp;Fox Factory Holding \* | 19496 | 431057 |
| &nbsp;&nbsp;&nbsp;Frontdoor \* | 34669 | 2303062 |
| &nbsp;&nbsp;&nbsp;Funko, Cl A \* | 16383 | 51115 |
| &nbsp;&nbsp;&nbsp;Genesco \* | 4594 | 133272 |
| &nbsp;&nbsp;&nbsp;Gentherm \* | 14186 | 522045 |
| &nbsp;&nbsp;&nbsp;GigaCloud Technology, Cl A \* | 11512 | 322106 |
| &nbsp;&nbsp;&nbsp;G-III Apparel Group \* | 18004 | 483407 |
| &nbsp;&nbsp;&nbsp;Global Business Travel Group I \* | 43797 | 344244 |
| &nbsp;&nbsp;&nbsp;Golden Entertainment | 9060 | 183012 |
| &nbsp;&nbsp;&nbsp;Goodyear Tire & Rubber \* | 121682 | 838389 |

---

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

*153*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;Graham Holdings, Cl B | 1495 | $1513134 |
| &nbsp;&nbsp;&nbsp;Green Brick Partners \* | 14550 | 941967 |
| &nbsp;&nbsp;&nbsp;Group 1 Automotive | 5868 | 2332765 |
| &nbsp;&nbsp;&nbsp;Groupon, Cl A \* | 11593 | 233367 |
| &nbsp;&nbsp;&nbsp;Hamilton Beach Brands Holding, Cl A | 3440 | 48401 |
| &nbsp;&nbsp;&nbsp;Hanesbrands \* | 163735 | 1082288 |
| &nbsp;&nbsp;&nbsp;Haverty Furniture | 6331 | 138079 |
| &nbsp;&nbsp;&nbsp;Helen of Troy \* | 10627 | 197981 |
| &nbsp;&nbsp;&nbsp;Hilton Grand Vacations \* | 26872 | 1113844 |
| &nbsp;&nbsp;&nbsp;Holley \* | 27087 | 77740 |
| &nbsp;&nbsp;&nbsp;Hovnanian Enterprises, Cl A \* | 2225 | 267512 |
| &nbsp;&nbsp;&nbsp;Inspired Entertainment \* | 11579 | 87421 |
| &nbsp;&nbsp;&nbsp;Installed Building Products | 10923 | 2711416 |
| &nbsp;&nbsp;&nbsp;J Jill | 3508 | 52866 |
| &nbsp;&nbsp;&nbsp;Jack in the Box | 8688 | 139355 |
| &nbsp;&nbsp;&nbsp;JAKKS Pacific | 4166 | 70822 |
| &nbsp;&nbsp;&nbsp;Johnson Outdoors, Cl A | 2499 | 101784 |
| &nbsp;&nbsp;&nbsp;KB Home | 30922 | 1930151 |
| &nbsp;&nbsp;&nbsp;KinderCare Learning \* | 14853 | 87633 |
| &nbsp;&nbsp;&nbsp;Kohl's | 50822 | 826874 |
| &nbsp;&nbsp;&nbsp;Kontoor Brands | 25679 | 2077945 |
| &nbsp;&nbsp;&nbsp;Krispy Kreme <sup>(A)</sup> | 35766 | 128400 |
| &nbsp;&nbsp;&nbsp;Kura Sushi USA, Cl A \* | 2912 | 165780 |
| &nbsp;&nbsp;&nbsp;Lakeland Industries | 4266 | 70218 |
| &nbsp;&nbsp;&nbsp;Lands' End \* | 5454 | 85846 |
| &nbsp;&nbsp;&nbsp;Latham Group \* | 20665 | 149821 |
| &nbsp;&nbsp;&nbsp;Laureate Education, Cl A \* | 59962 | 1740697 |
| &nbsp;&nbsp;&nbsp;La-Z-Boy, Cl Z | 19334 | 612888 |
| &nbsp;&nbsp;&nbsp;LCI Industries | 11475 | 1187548 |
| &nbsp;&nbsp;&nbsp;Legacy Housing \* | 4067 | 91324 |
| &nbsp;&nbsp;&nbsp;Leggett & Platt | 62137 | 580360 |
| &nbsp;&nbsp;&nbsp;LGI Homes \* | 9644 | 393572 |
| &nbsp;&nbsp;&nbsp;Life Time Group Holdings \* | 63258 | 1564370 |
| &nbsp;&nbsp;&nbsp;Lincoln Educational Services \* | 13802 | 268035 |
| &nbsp;&nbsp;&nbsp;Lindblad Expeditions Holdings \* | 17538 | 211508 |
| &nbsp;&nbsp;&nbsp;Livewire Group \* | 17140 | 93927 |
| &nbsp;&nbsp;&nbsp;Lovesac \* | 6164 | 85495 |
| &nbsp;&nbsp;&nbsp;Luminar Technologies, Cl A <sup>\*(A)</sup> | 20715 | 24029 |
| &nbsp;&nbsp;&nbsp;M/I Homes \* | 12160 | 1522310 |

---

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

*154*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;Malibu Boats, Cl A \* | 8565 | $238707 |
| &nbsp;&nbsp;&nbsp;Marine Products | 4289 | 36242 |
| &nbsp;&nbsp;&nbsp;MarineMax \* | 8792 | 217778 |
| &nbsp;&nbsp;&nbsp;Marriott Vacations Worldwide | 12975 | 856090 |
| &nbsp;&nbsp;&nbsp;MasterCraft Boat Holdings \* | 7552 | 151493 |
| &nbsp;&nbsp;&nbsp;Matthews International, Cl A | 13838 | 324086 |
| &nbsp;&nbsp;&nbsp;McGraw Hill Inc \* | 10960 | 122314 |
| &nbsp;&nbsp;&nbsp;Meritage Homes | 33117 | 2237385 |
| &nbsp;&nbsp;&nbsp;Mister Car Wash \* | 45988 | 257073 |
| &nbsp;&nbsp;&nbsp;Monarch Casino & Resort | 5938 | 534836 |
| &nbsp;&nbsp;&nbsp;Monro | 13856 | 202990 |
| &nbsp;&nbsp;&nbsp;Motorcar Parts of America \* | 6089 | 103878 |
| &nbsp;&nbsp;&nbsp;Movado Group | 7057 | 128508 |
| &nbsp;&nbsp;&nbsp;Nathan's Famous | 1352 | 143082 |
| &nbsp;&nbsp;&nbsp;National Vision Holdings \* | 36302 | 934776 |
| &nbsp;&nbsp;&nbsp;Nerdy \* | 26806 | 26535 |
| &nbsp;&nbsp;&nbsp;ODP \* | 12795 | 356725 |
| &nbsp;&nbsp;&nbsp;OneWater Marine, Cl A \* | 5256 | 81626 |
| &nbsp;&nbsp;&nbsp;Outdoor Holding \* | 40874 | 65398 |
| &nbsp;&nbsp;&nbsp;Oxford Industries | 6603 | 243321 |
| &nbsp;&nbsp;&nbsp;Papa John's International | 15239 | 774294 |
| &nbsp;&nbsp;&nbsp;Patrick Industries | 15142 | 1580371 |
| &nbsp;&nbsp;&nbsp;Peloton Interactive, Cl A \* | 175759 | 1276010 |
| &nbsp;&nbsp;&nbsp;Perdoceo Education | 28671 | 910591 |
| &nbsp;&nbsp;&nbsp;Petco Health & Wellness, Cl A \* | 36391 | 115723 |
| &nbsp;&nbsp;&nbsp;Phinia | 17952 | 931888 |
| &nbsp;&nbsp;&nbsp;Polaris | 24844 | 1642188 |
| &nbsp;&nbsp;&nbsp;Portillo's, Cl A \* | 27696 | 148174 |
| &nbsp;&nbsp;&nbsp;Pursuit Attractions and Hospitality \* | 9843 | 349230 |
| &nbsp;&nbsp;&nbsp;RCI Hospitality Holdings | 3798 | 94608 |
| &nbsp;&nbsp;&nbsp;RealReal \* | 44177 | 539401 |
| &nbsp;&nbsp;&nbsp;Red Rock Resorts, Cl A | 22752 | 1212909 |
| &nbsp;&nbsp;&nbsp;Revolve Group, Cl A \* | 18891 | 417869 |
| &nbsp;&nbsp;&nbsp;Rocky Brands | 3269 | 92153 |
| &nbsp;&nbsp;&nbsp;Rush Street Interactive \* | 41342 | 701160 |
| &nbsp;&nbsp;&nbsp;Sabre \* | 168208 | 343985 |
| &nbsp;&nbsp;&nbsp;Sally Beauty Holdings \* | 47126 | 712074 |
| &nbsp;&nbsp;&nbsp;Savers Value Village \* | 17928 | 165117 |
| &nbsp;&nbsp;&nbsp;Serve Robotics \* | 21734 | 287541 |

---

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

*155*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;Shake Shack, Cl A \* | 18114 | $1748182 |
| &nbsp;&nbsp;&nbsp;Shoe Carnival | 8410 | 154155 |
| &nbsp;&nbsp;&nbsp;Signet Jewelers | 18659 | 1844442 |
| &nbsp;&nbsp;&nbsp;Six Flags Entertainment \* | 44700 | 1027206 |
| &nbsp;&nbsp;&nbsp;Sleep Number \* | 8912 | 49016 |
| &nbsp;&nbsp;&nbsp;Smith & Wesson Brands | 20375 | 195294 |
| &nbsp;&nbsp;&nbsp;Solid Power \* | 70740 | 444247 |
| &nbsp;&nbsp;&nbsp;Sonic Automotive, Cl A | 6972 | 442931 |
| &nbsp;&nbsp;&nbsp;Sonos \* | 54809 | 941071 |
| &nbsp;&nbsp;&nbsp;Standard Motor Products | 9809 | 364208 |
| &nbsp;&nbsp;&nbsp;Steven Madden | 33442 | 1134018 |
| &nbsp;&nbsp;&nbsp;Stitch Fix, Cl A \* | 49820 | 208746 |
| &nbsp;&nbsp;&nbsp;Strategic Education | 10881 | 826738 |
| &nbsp;&nbsp;&nbsp;Strattec Security \* | 1808 | 110939 |
| &nbsp;&nbsp;&nbsp;Stride \* | 19900 | 1353996 |
| &nbsp;&nbsp;&nbsp;Sturm Ruger | 7442 | 315615 |
| &nbsp;&nbsp;&nbsp;Superior Group | 5324 | 49726 |
| &nbsp;&nbsp;&nbsp;Sweetgreen, Cl A \* | 48016 | 302021 |
| &nbsp;&nbsp;&nbsp;Target Hospitality \* | 15151 | 116511 |
| &nbsp;&nbsp;&nbsp;Taylor Morrison Home, Cl A \* | 45262 | 2682679 |
| &nbsp;&nbsp;&nbsp;ThredUp, Cl A \* | 42873 | 376854 |
| &nbsp;&nbsp;&nbsp;Tile Shop Holdings \* | 13369 | 83690 |
| &nbsp;&nbsp;&nbsp;Topgolf Callaway Brands \* | 61489 | 578611 |
| &nbsp;&nbsp;&nbsp;Torrid Holdings \* | 15751 | 19689 |
| &nbsp;&nbsp;&nbsp;Traeger \* | 14539 | 13376 |
| &nbsp;&nbsp;&nbsp;Tri Pointe Homes \* | 40214 | 1280816 |
| &nbsp;&nbsp;&nbsp;Udemy \* | 45062 | 256628 |
| &nbsp;&nbsp;&nbsp;United Parks & Resorts \* | 12648 | 612163 |
| &nbsp;&nbsp;&nbsp;Universal Technical Institute \* | 21746 | 646291 |
| &nbsp;&nbsp;&nbsp;Upbound Group, Cl A | 24466 | 474151 |
| &nbsp;&nbsp;&nbsp;Urban Outfitters \* | 28528 | 1843194 |
| &nbsp;&nbsp;&nbsp;Victoria's Secret \* | 32271 | 1137553 |
| &nbsp;&nbsp;&nbsp;Visteon | 12795 | 1371112 |
| &nbsp;&nbsp;&nbsp;Warby Parker, Cl A \* | 45769 | 896615 |
| &nbsp;&nbsp;&nbsp;Weyco Group | 2858 | 81939 |
| &nbsp;&nbsp;&nbsp;Winmark | 1387 | 559197 |
| &nbsp;&nbsp;&nbsp;Winnebago Industries | 12646 | 476881 |
| &nbsp;&nbsp;&nbsp;Wolverine World Wide | 37541 | 852181 |
| &nbsp;&nbsp;&nbsp;XPEL \* | 11158 | 380488 |

---

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

*156*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;Xponential Fitness, Cl A \* | 12981 | $87232 |
| &nbsp;&nbsp;&nbsp;Zspace \* | 767 | 728 |
| &nbsp;&nbsp;&nbsp;Zumiez \* | 6689 | 144817 |
|  |  | 113046971 |
| Consumer Staples — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;Alico | 2477 | 87215 |
| &nbsp;&nbsp;&nbsp;Andersons | 15250 | 706227 |
| &nbsp;&nbsp;&nbsp;B&G Foods | 35779 | 143116 |
| &nbsp;&nbsp;&nbsp;Beauty Health \* | 53989 | 77204 |
| &nbsp;&nbsp;&nbsp;Beyond Meat \* | 34739 | 57493 |
| &nbsp;&nbsp;&nbsp;BRC, Cl A \* | 45149 | 57339 |
| &nbsp;&nbsp;&nbsp;Calavo Growers | 7808 | 173416 |
| &nbsp;&nbsp;&nbsp;Cal-Maine Foods | 21392 | 1878218 |
| &nbsp;&nbsp;&nbsp;Central Garden & Pet \* | 3976 | 121944 |
| &nbsp;&nbsp;&nbsp;Central Garden & Pet, Cl A \* | 23540 | 654647 |
| &nbsp;&nbsp;&nbsp;Chefs' Warehouse \* | 16986 | 1002174 |
| &nbsp;&nbsp;&nbsp;Dole PLC | 32715 | 416789 |
| &nbsp;&nbsp;&nbsp;Edgewell Personal Care | 21127 | 409653 |
| &nbsp;&nbsp;&nbsp;Energizer Holdings | 30861 | 716901 |
| &nbsp;&nbsp;&nbsp;FitLife Brands \* | 1738 | 33231 |
| &nbsp;&nbsp;&nbsp;Fresh Del Monte Produce | 15439 | 545769 |
| &nbsp;&nbsp;&nbsp;Grocery Outlet Holding \* | 44138 | 600718 |
| &nbsp;&nbsp;&nbsp;Guardian Pharmacy Services, Cl A \* | 9131 | 256033 |
| &nbsp;&nbsp;&nbsp;Hain Celestial Group \* | 41965 | 48679 |
| &nbsp;&nbsp;&nbsp;Herbalife \* | 46883 | 375064 |
| &nbsp;&nbsp;&nbsp;HF Foods Group \* | 18612 | 40202 |
| &nbsp;&nbsp;&nbsp;Honest \* | 43254 | 147496 |
| &nbsp;&nbsp;&nbsp;Ingles Markets, Cl A | 6823 | 471469 |
| &nbsp;&nbsp;&nbsp;Inter Parfums | 8540 | 761341 |
| &nbsp;&nbsp;&nbsp;Ispire Technology \* | 8733 | 16331 |
| &nbsp;&nbsp;&nbsp;J & J Snack Foods | 7228 | 611850 |
| &nbsp;&nbsp;&nbsp;John B Sanfilippo & Son | 3665 | 230089 |
| &nbsp;&nbsp;&nbsp;Lifevantage | 4962 | 40639 |
| &nbsp;&nbsp;&nbsp;Lifeway Foods \* | 2397 | 57504 |
| &nbsp;&nbsp;&nbsp;Limoneira | 7832 | 110666 |
| &nbsp;&nbsp;&nbsp;Mama's Creations \* | 15704 | 166305 |
| &nbsp;&nbsp;&nbsp;Medifast \* | 5002 | 60124 |
| &nbsp;&nbsp;&nbsp;MGP Ingredients | 6536 | 158171 |

---

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

*157*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Staples — continued |  |  |
| &nbsp;&nbsp;&nbsp;Mission Produce \* | 19922 | $229501 |
| &nbsp;&nbsp;&nbsp;National Beverage \* | 11125 | 381254 |
| &nbsp;&nbsp;&nbsp;Natural Grocers by Vitamin Cottage | 5917 | 189877 |
| &nbsp;&nbsp;&nbsp;Nature's Sunshine Products \* | 8128 | 109565 |
| &nbsp;&nbsp;&nbsp;Nu Skin Enterprises, Cl A | 22827 | 244705 |
| &nbsp;&nbsp;&nbsp;Oil-Dri Corp of America | 4622 | 256013 |
| &nbsp;&nbsp;&nbsp;Olaplex Holdings \* | 65140 | 67746 |
| &nbsp;&nbsp;&nbsp;PriceSmart | 11967 | 1375487 |
| &nbsp;&nbsp;&nbsp;Seneca Foods, Cl A \* | 2181 | 235188 |
| &nbsp;&nbsp;&nbsp;Simply Good Foods \* | 43710 | 855405 |
| &nbsp;&nbsp;&nbsp;Spectrum Brands Holdings | 11106 | 598391 |
| &nbsp;&nbsp;&nbsp;The Marzetti Company | 9367 | 1468652 |
| &nbsp;&nbsp;&nbsp;Tootsie Roll Industries | 8399 | 296401 |
| &nbsp;&nbsp;&nbsp;TreeHouse Foods \* | 23422 | 426280 |
| &nbsp;&nbsp;&nbsp;Turning Point Brands | 7974 | 716863 |
| &nbsp;&nbsp;&nbsp;United Natural Foods \* | 27926 | 1051414 |
| &nbsp;&nbsp;&nbsp;Universal | 11268 | 571062 |
| &nbsp;&nbsp;&nbsp;USANA Health Sciences \* | 5101 | 107886 |
| &nbsp;&nbsp;&nbsp;Utz Brands | 33573 | 353524 |
| &nbsp;&nbsp;&nbsp;Village Super Market, Cl A | 4215 | 132225 |
| &nbsp;&nbsp;&nbsp;Vita Coco \* | 20510 | 844602 |
| &nbsp;&nbsp;&nbsp;Vital Farms \* | 16139 | 530166 |
| &nbsp;&nbsp;&nbsp;Waldencast PLC, Cl A \* | 19686 | 35632 |
| &nbsp;&nbsp;&nbsp;WD-40 | 6349 | 1233484 |
| &nbsp;&nbsp;&nbsp;Weis Markets | 7703 | 487908 |
| &nbsp;&nbsp;&nbsp;Westrock Coffee \* | 17018 | 75049 |
| &nbsp;&nbsp;&nbsp;Zevia PBC, Cl A \* | 15794 | 37274 |
|  |  | 24145571 |
| Energy — 4.5% |  |  |
| &nbsp;&nbsp;&nbsp;Archrock | 77061 | 1947332 |
| &nbsp;&nbsp;&nbsp;Atlas Energy Solutions, Cl A <sup>(A)</sup> | 35997 | 445643 |
| &nbsp;&nbsp;&nbsp;Berry | 35726 | 120397 |
| &nbsp;&nbsp;&nbsp;Bristow Group \* | 13261 | 539723 |
| &nbsp;&nbsp;&nbsp;Cactus, Cl A | 31937 | 1410657 |
| &nbsp;&nbsp;&nbsp;California Resources | 31567 | 1489015 |
| &nbsp;&nbsp;&nbsp;Calumet \* | 32118 | 628228 |
| &nbsp;&nbsp;&nbsp;Centrus Energy, Cl A <sup>\*(A)</sup> | 7322 | 2690542 |
| &nbsp;&nbsp;&nbsp;Clean Energy Fuels \* | 81183 | 232183 |

---

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

*158*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Energy — continued |  |  |
| &nbsp;&nbsp;&nbsp;CNX Resources \* | 63756 | $2146027 |
| &nbsp;&nbsp;&nbsp;Comstock Resources \* | 34517 | 647194 |
| &nbsp;&nbsp;&nbsp;Core Laboratories | 21782 | 347205 |
| &nbsp;&nbsp;&nbsp;Core Natural Resources | 24298 | 1919542 |
| &nbsp;&nbsp;&nbsp;Crescent Energy, Cl A | 83337 | 702531 |
| &nbsp;&nbsp;&nbsp;CVR Energy \* | 14403 | 512603 |
| &nbsp;&nbsp;&nbsp;Delek US Holdings | 27809 | 1050068 |
| &nbsp;&nbsp;&nbsp;DHT Holdings | 59380 | 788566 |
| &nbsp;&nbsp;&nbsp;Diversified Energy PLC | 26811 | 339159 |
| &nbsp;&nbsp;&nbsp;DMC Global \* | 9055 | 72983 |
| &nbsp;&nbsp;&nbsp;Dorian LPG | 17233 | 497172 |
| &nbsp;&nbsp;&nbsp;Empire Petroleum \* | 6891 | 20742 |
| &nbsp;&nbsp;&nbsp;Energy Fuels \* | 99957 | 2050118 |
| &nbsp;&nbsp;&nbsp;Energy Services of America | 5575 | 61102 |
| &nbsp;&nbsp;&nbsp;Epsilon Energy | 9050 | 43440 |
| &nbsp;&nbsp;&nbsp;Evolution Petroleum | 14451 | 63295 |
| &nbsp;&nbsp;&nbsp;Excelerate Energy, Cl A | 10757 | 278714 |
| &nbsp;&nbsp;&nbsp;Expro Group Holdings \* | 48099 | 653184 |
| &nbsp;&nbsp;&nbsp;Flowco Holdings Inc | 9356 | 151567 |
| &nbsp;&nbsp;&nbsp;Forum Energy Technologies \* | 5184 | 138828 |
| &nbsp;&nbsp;&nbsp;FutureFuel | 11777 | 46284 |
| &nbsp;&nbsp;&nbsp;Gevo <sup>\*(A)</sup> | 107753 | 252142 |
| &nbsp;&nbsp;&nbsp;Granite Ridge Resources | 25068 | 132359 |
| &nbsp;&nbsp;&nbsp;Green Plains \* | 29799 | 306334 |
| &nbsp;&nbsp;&nbsp;Gulfport Energy \* | 7411 | 1378520 |
| &nbsp;&nbsp;&nbsp;Hallador Energy \* | 14381 | 311061 |
| &nbsp;&nbsp;&nbsp;Helix Energy Solutions Group \* | 64520 | 433574 |
| &nbsp;&nbsp;&nbsp;Helmerich & Payne | 45029 | 1182462 |
| &nbsp;&nbsp;&nbsp;HighPeak Energy <sup>(A)</sup> | 8528 | 56711 |
| &nbsp;&nbsp;&nbsp;Infinity Natural Resources Inc, Cl A \* | 7148 | 82059 |
| &nbsp;&nbsp;&nbsp;Innovex International \* | 17978 | 360818 |
| &nbsp;&nbsp;&nbsp;International Seaways | 18745 | 960306 |
| &nbsp;&nbsp;&nbsp;Kinetik Holdings, Cl A <sup>(A)</sup> | 20646 | 795077 |
| &nbsp;&nbsp;&nbsp;Kodiak Gas Services | 31385 | 1157479 |
| &nbsp;&nbsp;&nbsp;Liberty Energy, Cl A | 73585 | 1332624 |
| &nbsp;&nbsp;&nbsp;Lightbridge \* | 9870 | 264812 |
| &nbsp;&nbsp;&nbsp;Magnolia Oil & Gas, Cl A | 86815 | 1949865 |
| &nbsp;&nbsp;&nbsp;Mammoth Energy Services \* | 12002 | 24484 |
| &nbsp;&nbsp;&nbsp;Murphy Oil | 62974 | 1782164 |

---

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

*159*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Energy — continued |  |  |
| &nbsp;&nbsp;&nbsp;Nabors Industries \* | 7080 | $343522 |
| &nbsp;&nbsp;&nbsp;NACCO Industries, Cl A | 1841 | 77838 |
| &nbsp;&nbsp;&nbsp;National Energy Services Reunited \* | 28240 | 356389 |
| &nbsp;&nbsp;&nbsp;Natural Gas Services Group | 4705 | 130987 |
| &nbsp;&nbsp;&nbsp;Navigator Holdings | 15161 | 249247 |
| &nbsp;&nbsp;&nbsp;New Fortress Energy, Cl A <sup>\*(A)</sup> | 78440 | 101188 |
| &nbsp;&nbsp;&nbsp;NextDecade \* | 62038 | 367885 |
| &nbsp;&nbsp;&nbsp;Nextnrg \* | 8053 | 16025 |
| &nbsp;&nbsp;&nbsp;Noble PLC | 58837 | 1726866 |
| &nbsp;&nbsp;&nbsp;Nordic American Tankers | 95104 | 349983 |
| &nbsp;&nbsp;&nbsp;Northern Oil & Gas | 45182 | 999878 |
| &nbsp;&nbsp;&nbsp;Oceaneering International \* | 43792 | 1019916 |
| &nbsp;&nbsp;&nbsp;Oil States International \* | 27270 | 162802 |
| &nbsp;&nbsp;&nbsp;OPAL Fuels, Cl A \* | 9785 | 23582 |
| &nbsp;&nbsp;&nbsp;Par Pacific Holdings \* | 23603 | 943648 |
| &nbsp;&nbsp;&nbsp;Patterson-UTI Energy | 164567 | 1031835 |
| &nbsp;&nbsp;&nbsp;PBF Energy, Cl A | 39049 | 1334304 |
| &nbsp;&nbsp;&nbsp;Peabody Energy | 57008 | 1563159 |
| &nbsp;&nbsp;&nbsp;Prairie Operating \* | 10057 | 20617 |
| &nbsp;&nbsp;&nbsp;PrimeEnergy Resources \* | 157 | 21233 |
| &nbsp;&nbsp;&nbsp;ProFrac Holding, Cl A \* | 5741 | 31403 |
| &nbsp;&nbsp;&nbsp;ProPetro Holding \* | 37146 | 385576 |
| &nbsp;&nbsp;&nbsp;Ranger Energy Services, Cl A | 9383 | 128922 |
| &nbsp;&nbsp;&nbsp;REX American Resources \* | 13805 | 442174 |
| &nbsp;&nbsp;&nbsp;Riley Exploration Permian | 6264 | 162989 |
| &nbsp;&nbsp;&nbsp;RPC | 41450 | 215540 |
| &nbsp;&nbsp;&nbsp;Sable Offshore \* | 35282 | 369050 |
| &nbsp;&nbsp;&nbsp;SandRidge Energy | 16860 | 200803 |
| &nbsp;&nbsp;&nbsp;SEACOR Marine Holdings \* | 9689 | 61622 |
| &nbsp;&nbsp;&nbsp;Select Water Solutions, Cl A | 43464 | 502444 |
| &nbsp;&nbsp;&nbsp;SM Energy | 53170 | 1110721 |
| &nbsp;&nbsp;&nbsp;Solaris Oilfield Infrastructure, Cl A | 16983 | 904005 |
| &nbsp;&nbsp;&nbsp;Summit Midstream \* | 4396 | 96360 |
| &nbsp;&nbsp;&nbsp;Talos Energy \* | 56073 | 550076 |
| &nbsp;&nbsp;&nbsp;TETRA Technologies \* | 59173 | 417761 |
| &nbsp;&nbsp;&nbsp;Tidewater \* | 22932 | 1160130 |
| &nbsp;&nbsp;&nbsp;Transocean \* | 396246 | 1521585 |
| &nbsp;&nbsp;&nbsp;Uranium Energy \* | 198296 | 3000219 |
| &nbsp;&nbsp;&nbsp;VAALCO Energy | 48018 | 188711 |

---

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

*160*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Energy — continued |  |  |
| &nbsp;&nbsp;&nbsp;Valaris \* | 29683 | $1665810 |
| &nbsp;&nbsp;&nbsp;Verde Clean Fuels \* | 2042 | 6779 |
| &nbsp;&nbsp;&nbsp;Vital Energy \* | 13822 | 217144 |
| &nbsp;&nbsp;&nbsp;Vitesse Energy | 13675 | 297431 |
| &nbsp;&nbsp;&nbsp;W&T Offshore | 46022 | 96646 |
| &nbsp;&nbsp;&nbsp;World Kinect | 25740 | 665379 |
| &nbsp;&nbsp;&nbsp;XCF Global Inc, Cl A \* | 16477 | 14525 |
|  |  | 60051604 |
| Financials — 16.2% |  |  |
| &nbsp;&nbsp;&nbsp;1st Source | 8597 | 511006 |
| &nbsp;&nbsp;&nbsp;Abacus Life \* | 18859 | 94672 |
| &nbsp;&nbsp;&nbsp;Acacia Research \* | 15970 | 55416 |
| &nbsp;&nbsp;&nbsp;Acadian Asset Management | 12464 | 599518 |
| &nbsp;&nbsp;&nbsp;ACNB | 4789 | 216367 |
| &nbsp;&nbsp;&nbsp;ACRES Commercial Realty REIT <sup>‡</sup> \* | 2870 | 60270 |
| &nbsp;&nbsp;&nbsp;Adamas Trust <sup>‡</sup> | 39440 | 263065 |
| &nbsp;&nbsp;&nbsp;Advanced Flower Capital <sup>‡</sup> | 8485 | 27576 |
| &nbsp;&nbsp;&nbsp;AG Mortgage Investment Trust <sup>‡</sup> | 13192 | 94191 |
| &nbsp;&nbsp;&nbsp;Alerus Financial | 10976 | 231813 |
| &nbsp;&nbsp;&nbsp;AlTi Global \* | 20107 | 79222 |
| &nbsp;&nbsp;&nbsp;Amalgamated Financial | 10862 | 296098 |
| &nbsp;&nbsp;&nbsp;Ambac Financial Group \* | 20150 | 165431 |
| &nbsp;&nbsp;&nbsp;Amerant Bancorp, Cl A | 17225 | 288863 |
| &nbsp;&nbsp;&nbsp;American Coastal Insurance, Cl C | 11415 | 135154 |
| &nbsp;&nbsp;&nbsp;American Integrity Insurance \* | 3743 | 89196 |
| &nbsp;&nbsp;&nbsp;Ameris Bancorp | 30827 | 2207830 |
| &nbsp;&nbsp;&nbsp;AMERISAFE | 8799 | 352664 |
| &nbsp;&nbsp;&nbsp;Ames National | 4125 | 86047 |
| &nbsp;&nbsp;&nbsp;Angel Oak Mortgage REIT <sup>‡</sup> | 5831 | 52887 |
| &nbsp;&nbsp;&nbsp;Apollo Commercial Real Estate Finance <sup>‡</sup> | 65080 | 637133 |
| &nbsp;&nbsp;&nbsp;Arbor Realty Trust <sup>‡</sup> | 88903 | 897031 |
| &nbsp;&nbsp;&nbsp;Ares Commercial Real Estate <sup>‡</sup> | 24942 | 111241 |
| &nbsp;&nbsp;&nbsp;ARMOUR Residential REIT <sup>‡</sup> | 51741 | 839239 |
| &nbsp;&nbsp;&nbsp;Arrow Financial | 7652 | 213414 |
| &nbsp;&nbsp;&nbsp;Artisan Partners Asset Management, Cl A | 29165 | 1273344 |
| &nbsp;&nbsp;&nbsp;Aspen Insurance Holdings \* | 7205 | 264784 |
| &nbsp;&nbsp;&nbsp;Associated Banc-Corp | 77532 | 1920468 |
| &nbsp;&nbsp;&nbsp;Ategrity Specialty Holdings \* | 2931 | 56949 |

---

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

*161*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Atlantic Union Bankshares | 66441 | $2160661 |
| &nbsp;&nbsp;&nbsp;Atlanticus Holdings \* | 2490 | 137224 |
| &nbsp;&nbsp;&nbsp;Axos Financial \* | 25343 | 1976247 |
| &nbsp;&nbsp;&nbsp;Bakkt Holdings, Cl A \* | 5170 | 143054 |
| &nbsp;&nbsp;&nbsp;Baldwin Insurance Group, Cl A \* | 32753 | 723841 |
| &nbsp;&nbsp;&nbsp;Banc of California | 59809 | 1014959 |
| &nbsp;&nbsp;&nbsp;BancFirst | 9727 | 1058881 |
| &nbsp;&nbsp;&nbsp;Bancorp \* | 21233 | 1388001 |
| &nbsp;&nbsp;&nbsp;Bank First | 4214 | 514614 |
| &nbsp;&nbsp;&nbsp;Bank of Hawaii | 18345 | 1191141 |
| &nbsp;&nbsp;&nbsp;Bank of Marin Bancorp | 6782 | 174636 |
| &nbsp;&nbsp;&nbsp;Bank7 | 1975 | 81982 |
| &nbsp;&nbsp;&nbsp;BankFinancial | 5247 | 57979 |
| &nbsp;&nbsp;&nbsp;BankUnited | 35163 | 1409333 |
| &nbsp;&nbsp;&nbsp;Bankwell Financial Group | 3278 | 142101 |
| &nbsp;&nbsp;&nbsp;Banner | 15869 | 958329 |
| &nbsp;&nbsp;&nbsp;Bar Harbor Bankshares | 6991 | 205046 |
| &nbsp;&nbsp;&nbsp;BayCom | 4792 | 130630 |
| &nbsp;&nbsp;&nbsp;BCB Bancorp | 7349 | 58351 |
| &nbsp;&nbsp;&nbsp;Beacon Financial | 38827 | 945049 |
| &nbsp;&nbsp;&nbsp;Better Home & Finance Holding \* | 2406 | 176143 |
| &nbsp;&nbsp;&nbsp;BGC Group, Cl A | 168922 | 1543947 |
| &nbsp;&nbsp;&nbsp;Blackstone Mortgage Trust, Cl A <sup>‡</sup> | 75798 | 1400747 |
| &nbsp;&nbsp;&nbsp;Blue Foundry Bancorp \* | 8725 | 71894 |
| &nbsp;&nbsp;&nbsp;Blue Ridge Bankshares \* | 31501 | 141124 |
| &nbsp;&nbsp;&nbsp;Bowhead Specialty Holdings \* | 7324 | 175483 |
| &nbsp;&nbsp;&nbsp;Bread Financial Holdings | 21751 | 1362700 |
| &nbsp;&nbsp;&nbsp;Bridgewater Bancshares \* | 9604 | 158082 |
| &nbsp;&nbsp;&nbsp;BrightSpire Capital <sup>‡</sup> | 59822 | 308682 |
| &nbsp;&nbsp;&nbsp;Burford Capital | 93731 | 932623 |
| &nbsp;&nbsp;&nbsp;Burke & Herbert Financial Services | 6268 | 368934 |
| &nbsp;&nbsp;&nbsp;Business First Bancshares | 13210 | 323909 |
| &nbsp;&nbsp;&nbsp;BV Financial \* | 3914 | 63798 |
| &nbsp;&nbsp;&nbsp;Byline Bancorp | 14552 | 389120 |
| &nbsp;&nbsp;&nbsp;C&F Financial | 1442 | 98647 |
| &nbsp;&nbsp;&nbsp;Cadence Bank | 87009 | 3283720 |
| &nbsp;&nbsp;&nbsp;California Bancorp \* | 10423 | 192721 |
| &nbsp;&nbsp;&nbsp;Camden National | 7774 | 296578 |
| &nbsp;&nbsp;&nbsp;Cannae Holdings | 26829 | 479703 |

---

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

*162*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Cantaloupe \* | 27329 | $288594 |
| &nbsp;&nbsp;&nbsp;Capital Bancorp | 5389 | 149787 |
| &nbsp;&nbsp;&nbsp;Capital City Bank Group | 6475 | 251878 |
| &nbsp;&nbsp;&nbsp;Capitol Federal Financial | 57106 | 344920 |
| &nbsp;&nbsp;&nbsp;Carter Bankshares \* | 10688 | 182551 |
| &nbsp;&nbsp;&nbsp;Cass Information Systems | 5615 | 221961 |
| &nbsp;&nbsp;&nbsp;Cathay General Bancorp | 31399 | 1427085 |
| &nbsp;&nbsp;&nbsp;CB Financial Services | 2127 | 68851 |
| &nbsp;&nbsp;&nbsp;Central Pacific Financial | 12311 | 350987 |
| &nbsp;&nbsp;&nbsp;CF Bankshares | 1851 | 42943 |
| &nbsp;&nbsp;&nbsp;Chain Bridge Bancorp, Cl A \* | 989 | 29314 |
| &nbsp;&nbsp;&nbsp;Chemung Financial | 1941 | 98350 |
| &nbsp;&nbsp;&nbsp;Chicago Atlantic Real Estate Finance <sup>‡</sup> | 8452 | 108693 |
| &nbsp;&nbsp;&nbsp;Chimera Investment <sup>‡</sup> | 37085 | 473205 |
| &nbsp;&nbsp;&nbsp;ChoiceOne Financial Services | 6636 | 190055 |
| &nbsp;&nbsp;&nbsp;Citizens, Cl A \* | 21062 | 117315 |
| &nbsp;&nbsp;&nbsp;Citizens & Northern | 6943 | 134416 |
| &nbsp;&nbsp;&nbsp;Citizens Community Bancorp | 4506 | 70519 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Services | 2120 | 116155 |
| &nbsp;&nbsp;&nbsp;City Holding | 6559 | 773175 |
| &nbsp;&nbsp;&nbsp;Civista Bancshares | 8874 | 191057 |
| &nbsp;&nbsp;&nbsp;Claros Mortgage Trust <sup>‡</sup> | 42798 | 136954 |
| &nbsp;&nbsp;&nbsp;CNB Financial | 12990 | 319554 |
| &nbsp;&nbsp;&nbsp;CNO Financial Group | 44832 | 1794177 |
| &nbsp;&nbsp;&nbsp;Coastal Financial \* | 6002 | 639213 |
| &nbsp;&nbsp;&nbsp;CoastalSouth Bancshares \* | 2162 | 46007 |
| &nbsp;&nbsp;&nbsp;Cohen & Steers | 12918 | 882558 |
| &nbsp;&nbsp;&nbsp;Colony Bankcorp | 7900 | 126321 |
| &nbsp;&nbsp;&nbsp;Columbia Financial \* | 12611 | 186012 |
| &nbsp;&nbsp;&nbsp;Community Financial System | 24673 | 1368858 |
| &nbsp;&nbsp;&nbsp;Community Trust Bancorp | 7400 | 378843 |
| &nbsp;&nbsp;&nbsp;Community West Bancshares | 7767 | 164505 |
| &nbsp;&nbsp;&nbsp;Compass Diversified Holdings | 31175 | 198897 |
| &nbsp;&nbsp;&nbsp;ConnectOne Bancorp | 22125 | 532328 |
| &nbsp;&nbsp;&nbsp;Consumer Portfolio Services \* | 4381 | 36800 |
| &nbsp;&nbsp;&nbsp;Crawford, Cl A | 7737 | 83792 |
| &nbsp;&nbsp;&nbsp;Customers Bancorp \* | 13783 | 925115 |
| &nbsp;&nbsp;&nbsp;CVB Financial | 61594 | 1131482 |
| &nbsp;&nbsp;&nbsp;Dave \* | 4317 | 1033144 |

---

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

*163*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Diamond Hill Investment Group | 1177 | $151068 |
| &nbsp;&nbsp;&nbsp;DigitalBridge Group | 79841 | 944519 |
| &nbsp;&nbsp;&nbsp;Dime Community Bancshares | 18537 | 486596 |
| &nbsp;&nbsp;&nbsp;Donegal Group, Cl A | 7737 | 145069 |
| &nbsp;&nbsp;&nbsp;Donnelley Financial Solutions \* | 12400 | 569780 |
| &nbsp;&nbsp;&nbsp;Dynex Capital <sup>‡</sup> | 60584 | 802132 |
| &nbsp;&nbsp;&nbsp;Eagle Bancorp | 13148 | 220229 |
| &nbsp;&nbsp;&nbsp;Eagle Bancorp Montana | 3429 | 55653 |
| &nbsp;&nbsp;&nbsp;Eagle Financial Services | 2130 | 77127 |
| &nbsp;&nbsp;&nbsp;Eastern Bankshares | 91621 | 1606116 |
| &nbsp;&nbsp;&nbsp;ECB Bancorp \* | 3601 | 57724 |
| &nbsp;&nbsp;&nbsp;eHealth \* | 13557 | 70361 |
| &nbsp;&nbsp;&nbsp;Ellington Financial <sup>‡</sup> | 43013 | 572933 |
| &nbsp;&nbsp;&nbsp;Employers Holdings | 11242 | 428657 |
| &nbsp;&nbsp;&nbsp;Enact Holdings | 13492 | 481934 |
| &nbsp;&nbsp;&nbsp;Encore Capital Group \* | 10633 | 442120 |
| &nbsp;&nbsp;&nbsp;Enova International \* | 11237 | 1343608 |
| &nbsp;&nbsp;&nbsp;Enterprise Financial Services | 17084 | 894689 |
| &nbsp;&nbsp;&nbsp;Equity Bancshares, Cl A | 6545 | 265138 |
| &nbsp;&nbsp;&nbsp;Esquire Financial Holdings | 3314 | 310853 |
| &nbsp;&nbsp;&nbsp;Essent Group | 45445 | 2752604 |
| &nbsp;&nbsp;&nbsp;F&G Annuities & Life | 9873 | 292734 |
| &nbsp;&nbsp;&nbsp;Farmers & Merchants Bancorp | 5884 | 140628 |
| &nbsp;&nbsp;&nbsp;Farmers National Banc | 16933 | 219790 |
| &nbsp;&nbsp;&nbsp;FB Bancorp \* | 8416 | 102002 |
| &nbsp;&nbsp;&nbsp;FB Financial | 19315 | 1043203 |
| &nbsp;&nbsp;&nbsp;Federal Agricultural Mortgage, Cl C | 4346 | 689449 |
| &nbsp;&nbsp;&nbsp;Fidelity D&D Bancorp | 2209 | 96489 |
| &nbsp;&nbsp;&nbsp;Finance of America, Cl A \* | 2053 | 45166 |
| &nbsp;&nbsp;&nbsp;Financial Institutions | 9260 | 263262 |
| &nbsp;&nbsp;&nbsp;Finward Bancorp | 1628 | 57224 |
| &nbsp;&nbsp;&nbsp;Finwise Bancorp \* | 4120 | 79063 |
| &nbsp;&nbsp;&nbsp;First Bancorp | 18814 | 913232 |
| &nbsp;&nbsp;&nbsp;First Bancorp | 5002 | 124000 |
| &nbsp;&nbsp;&nbsp;First Bank | 10078 | 157418 |
| &nbsp;&nbsp;&nbsp;First Busey | 39894 | 892030 |
| &nbsp;&nbsp;&nbsp;First Business Financial Services | 3705 | 187510 |
| &nbsp;&nbsp;&nbsp;First Capital | 1537 | 66168 |
| &nbsp;&nbsp;&nbsp;First Commonwealth Financial | 48628 | 743522 |

---

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

*164*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;First Community | 3425 | $91824 |
| &nbsp;&nbsp;&nbsp;First Community Bankshares | 7241 | 234174 |
| &nbsp;&nbsp;&nbsp;First Financial | 5311 | 283183 |
| &nbsp;&nbsp;&nbsp;First Financial Bancorp | 44425 | 1039989 |
| &nbsp;&nbsp;&nbsp;First Financial Bankshares | 62682 | 1936247 |
| &nbsp;&nbsp;&nbsp;First Foundation \* | 29437 | 160137 |
| &nbsp;&nbsp;&nbsp;First Internet Bancorp | 3633 | 64449 |
| &nbsp;&nbsp;&nbsp;First Interstate BancSystem, Cl A | 41679 | 1302469 |
| &nbsp;&nbsp;&nbsp;First Merchants | 27191 | 964737 |
| &nbsp;&nbsp;&nbsp;First Mid Bancshares | 10091 | 360551 |
| &nbsp;&nbsp;&nbsp;First National | 3651 | 82221 |
| &nbsp;&nbsp;&nbsp;First Savings Financial Group | 2605 | 77108 |
| &nbsp;&nbsp;&nbsp;First United | 2843 | 98169 |
| &nbsp;&nbsp;&nbsp;First Western Financial \* | 3838 | 88619 |
| &nbsp;&nbsp;&nbsp;FirstCash Holdings | 18455 | 2925118 |
| &nbsp;&nbsp;&nbsp;Firstsun Capital Bancorp \* | 5842 | 198862 |
| &nbsp;&nbsp;&nbsp;Five Star Bancorp | 7230 | 256737 |
| &nbsp;&nbsp;&nbsp;Flagstar Bank | 141564 | 1616661 |
| &nbsp;&nbsp;&nbsp;Flushing Financial | 14955 | 204435 |
| &nbsp;&nbsp;&nbsp;Flywire \* | 54620 | 727538 |
| &nbsp;&nbsp;&nbsp;Forge Global Holdings \* | 4652 | 102065 |
| &nbsp;&nbsp;&nbsp;Franklin BSP Realty Trust <sup>‡</sup> | 37962 | 384935 |
| &nbsp;&nbsp;&nbsp;Franklin Financial Services | 1941 | 87927 |
| &nbsp;&nbsp;&nbsp;FS Bancorp | 3025 | 117037 |
| &nbsp;&nbsp;&nbsp;Fulton Financial | 85053 | 1477371 |
| &nbsp;&nbsp;&nbsp;FVCBankcorp | 7145 | 87312 |
| &nbsp;&nbsp;&nbsp;GBank Financial Holdings \* | 4174 | 151391 |
| &nbsp;&nbsp;&nbsp;GCM Grosvenor | 22854 | 263050 |
| &nbsp;&nbsp;&nbsp;Genworth Financial, Cl A \* | 191899 | 1619628 |
| &nbsp;&nbsp;&nbsp;German American Bancorp | 16890 | 650941 |
| &nbsp;&nbsp;&nbsp;Glacier Bancorp | 59817 | 2443524 |
| &nbsp;&nbsp;&nbsp;GoHealth, Cl A \* | 2109 | 8352 |
| &nbsp;&nbsp;&nbsp;Goosehead Insurance, Cl A | 11238 | 771713 |
| &nbsp;&nbsp;&nbsp;Great Southern Bancorp | 3948 | 219904 |
| &nbsp;&nbsp;&nbsp;Green Dot, Cl A \* | 24854 | 288555 |
| &nbsp;&nbsp;&nbsp;Greene County Bancorp | 3272 | 71820 |
| &nbsp;&nbsp;&nbsp;Greenlight Capital Re, Cl A \* | 12269 | 148700 |
| &nbsp;&nbsp;&nbsp;HA Sustainable Infrastructure Capital | 55872 | 1548213 |
| &nbsp;&nbsp;&nbsp;Hancock Whitney | 40133 | 2291996 |

---

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

*165*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Hanmi Financial | 13908 | $367171 |
| &nbsp;&nbsp;&nbsp;Hanover Bancorp | 2206 | 45686 |
| &nbsp;&nbsp;&nbsp;HarborOne Bancorp | 17735 | 214594 |
| &nbsp;&nbsp;&nbsp;Hawthorn Bancshares | 2740 | 82775 |
| &nbsp;&nbsp;&nbsp;HBT Financial | 5349 | 130462 |
| &nbsp;&nbsp;&nbsp;HCI Group | 4799 | 979044 |
| &nbsp;&nbsp;&nbsp;Heritage Commerce | 27786 | 288974 |
| &nbsp;&nbsp;&nbsp;Heritage Financial | 15841 | 351512 |
| &nbsp;&nbsp;&nbsp;Heritage Insurance Holdings \* | 10569 | 249745 |
| &nbsp;&nbsp;&nbsp;Hilltop Holdings | 20807 | 672066 |
| &nbsp;&nbsp;&nbsp;Hingham Institution For Savings <sup>(A)</sup> | 783 | 230406 |
| &nbsp;&nbsp;&nbsp;Hippo Holdings \* | 8292 | 304980 |
| &nbsp;&nbsp;&nbsp;Home Bancorp | 3164 | 168167 |
| &nbsp;&nbsp;&nbsp;Home BancShares | 87775 | 2344470 |
| &nbsp;&nbsp;&nbsp;HomeTrust Bancshares | 7445 | 292663 |
| &nbsp;&nbsp;&nbsp;Hope Bancorp | 57644 | 604686 |
| &nbsp;&nbsp;&nbsp;Horace Mann Educators | 18999 | 849445 |
| &nbsp;&nbsp;&nbsp;Horizon Bancorp | 20135 | 314106 |
| &nbsp;&nbsp;&nbsp;Independent Bank | 22706 | 1527887 |
| &nbsp;&nbsp;&nbsp;Independent Bank | 9262 | 279898 |
| &nbsp;&nbsp;&nbsp;International Bancshares | 25403 | 1686251 |
| &nbsp;&nbsp;&nbsp;International Money Express \* | 12811 | 190756 |
| &nbsp;&nbsp;&nbsp;Invesco Mortgage Capital <sup>‡</sup> | 31041 | 233739 |
| &nbsp;&nbsp;&nbsp;Investar Holding | 4188 | 99507 |
| &nbsp;&nbsp;&nbsp;Investors Title | 662 | 171187 |
| &nbsp;&nbsp;&nbsp;Jackson Financial, Cl A | 33405 | 3367558 |
| &nbsp;&nbsp;&nbsp;James River Group Holdings | 17426 | 88873 |
| &nbsp;&nbsp;&nbsp;Jefferson Capital Inc | 5425 | 102424 |
| &nbsp;&nbsp;&nbsp;John Marshall Bancorp | 5901 | 112709 |
| &nbsp;&nbsp;&nbsp;Kearny Financial | 26525 | 169495 |
| &nbsp;&nbsp;&nbsp;Kingstone | 5195 | 75743 |
| &nbsp;&nbsp;&nbsp;KKR Real Estate Finance Trust <sup>‡</sup> | 26484 | 215580 |
| &nbsp;&nbsp;&nbsp;Ladder Capital <sup>‡</sup> | 53210 | 562430 |
| &nbsp;&nbsp;&nbsp;Lakeland Financial | 11705 | 667770 |
| &nbsp;&nbsp;&nbsp;Landmark Bancorp | 2108 | 54155 |
| &nbsp;&nbsp;&nbsp;LCNB | 6281 | 96476 |
| &nbsp;&nbsp;&nbsp;Lemonade \* | 25927 | 1557694 |
| &nbsp;&nbsp;&nbsp;LendingClub \* | 52750 | 917323 |
| &nbsp;&nbsp;&nbsp;LendingTree \* | 5209 | 333376 |

---

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

*166*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;LINKBANCORP | 10041 | $70588 |
| &nbsp;&nbsp;&nbsp;Live Oak Bancshares | 16475 | 513032 |
| &nbsp;&nbsp;&nbsp;loanDepot, Cl A \* | 38061 | 114944 |
| &nbsp;&nbsp;&nbsp;Lument Finance Trust <sup>‡</sup> | 21232 | 33122 |
| &nbsp;&nbsp;&nbsp;MainStreet Bancshares | 3352 | 62180 |
| &nbsp;&nbsp;&nbsp;MarketWise | 959 | 16284 |
| &nbsp;&nbsp;&nbsp;Marqeta, Cl A \* | 179174 | 811658 |
| &nbsp;&nbsp;&nbsp;MBIA \* | 21346 | 145793 |
| &nbsp;&nbsp;&nbsp;Mechanics Bancorp, Cl A \* | 8432 | 112904 |
| &nbsp;&nbsp;&nbsp;Medallion Financial | 7663 | 75327 |
| &nbsp;&nbsp;&nbsp;Mercantile Bank | 7361 | 322780 |
| &nbsp;&nbsp;&nbsp;Merchants Bancorp | 12032 | 375278 |
| &nbsp;&nbsp;&nbsp;Mercury General | 12538 | 969187 |
| &nbsp;&nbsp;&nbsp;Meridian | 4284 | 61218 |
| &nbsp;&nbsp;&nbsp;Metrocity Bankshares | 9142 | 234127 |
| &nbsp;&nbsp;&nbsp;Metropolitan Bank Holding | 4258 | 282178 |
| &nbsp;&nbsp;&nbsp;MFA Financial <sup>‡</sup> | 47781 | 429551 |
| &nbsp;&nbsp;&nbsp;Mid Penn Bancorp | 9104 | 259009 |
| &nbsp;&nbsp;&nbsp;Middlefield Banc | 3377 | 110090 |
| &nbsp;&nbsp;&nbsp;Midland States Bancorp | 9679 | 141701 |
| &nbsp;&nbsp;&nbsp;MidWestOne Financial Group | 7677 | 283972 |
| &nbsp;&nbsp;&nbsp;Moelis, Cl A | 34630 | 2193118 |
| &nbsp;&nbsp;&nbsp;MVB Financial | 5340 | 136597 |
| &nbsp;&nbsp;&nbsp;National Bank Holdings, Cl A | 17664 | 629898 |
| &nbsp;&nbsp;&nbsp;National Bankshares | 2931 | 83915 |
| &nbsp;&nbsp;&nbsp;Navient | 32158 | 393292 |
| &nbsp;&nbsp;&nbsp;NB Bancorp | 16240 | 293457 |
| &nbsp;&nbsp;&nbsp;NBT Bancorp | 23853 | 965331 |
| &nbsp;&nbsp;&nbsp;NCR Atleos \* | 34132 | 1259471 |
| &nbsp;&nbsp;&nbsp;Nelnet, Cl A | 6002 | 774558 |
| &nbsp;&nbsp;&nbsp;NerdWallet, Cl A \* | 19183 | 223866 |
| &nbsp;&nbsp;&nbsp;NewtekOne | 11490 | 119496 |
| &nbsp;&nbsp;&nbsp;Nexpoint Real Estate Finance <sup>‡</sup> | 3577 | 46644 |
| &nbsp;&nbsp;&nbsp;NI Holdings \* | 3245 | 42834 |
| &nbsp;&nbsp;&nbsp;Nicolet Bankshares | 6301 | 744400 |
| &nbsp;&nbsp;&nbsp;NMI Holdings, Cl A \* | 36409 | 1326380 |
| &nbsp;&nbsp;&nbsp;Northeast Bank | 3659 | 315699 |
| &nbsp;&nbsp;&nbsp;Northeast Community Bancorp | 5730 | 112537 |
| &nbsp;&nbsp;&nbsp;Northfield Bancorp | 17072 | 174476 |

---

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

*167*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Northpointe Bancshares | 4948 | $78426 |
| &nbsp;&nbsp;&nbsp;Northrim BanCorp | 10122 | 222482 |
| &nbsp;&nbsp;&nbsp;Northwest Bancshares | 67641 | 792076 |
| &nbsp;&nbsp;&nbsp;Norwood Financial | 3990 | 106174 |
| &nbsp;&nbsp;&nbsp;Oak Valley Bancorp | 3167 | 86396 |
| &nbsp;&nbsp;&nbsp;OceanFirst Financial | 26631 | 484152 |
| &nbsp;&nbsp;&nbsp;Ohio Valley Banc | 1760 | 61600 |
| &nbsp;&nbsp;&nbsp;Old National Bancorp | 163217 | 3334523 |
| &nbsp;&nbsp;&nbsp;Old Second Bancorp | 23371 | 419509 |
| &nbsp;&nbsp;&nbsp;Onity Group \* | 3068 | 114958 |
| &nbsp;&nbsp;&nbsp;OP Bancorp | 5557 | 74186 |
| &nbsp;&nbsp;&nbsp;Open Lending, Cl A \* | 47526 | 90299 |
| &nbsp;&nbsp;&nbsp;Oportun Financial \* | 18289 | 97480 |
| &nbsp;&nbsp;&nbsp;OppFi | 11318 | 110351 |
| &nbsp;&nbsp;&nbsp;Orange County Bancorp | 5454 | 133350 |
| &nbsp;&nbsp;&nbsp;Orchid Island Capital, Cl A <sup>‡</sup> | 59402 | 429476 |
| &nbsp;&nbsp;&nbsp;Origin Bancorp | 13797 | 478204 |
| &nbsp;&nbsp;&nbsp;Orrstown Financial Services | 8659 | 288172 |
| &nbsp;&nbsp;&nbsp;Oscar Health, Cl A \* | 90433 | 1627794 |
| &nbsp;&nbsp;&nbsp;P10, Cl A | 27081 | 275143 |
| &nbsp;&nbsp;&nbsp;Palomar Holdings \* | 12287 | 1400841 |
| &nbsp;&nbsp;&nbsp;Park National | 6910 | 1051633 |
| &nbsp;&nbsp;&nbsp;Parke Bancorp | 4561 | 98563 |
| &nbsp;&nbsp;&nbsp;Pathward Financial | 11083 | 754309 |
| &nbsp;&nbsp;&nbsp;Patriot National Bancorp \* | 23595 | 28078 |
| &nbsp;&nbsp;&nbsp;Payoneer Global \* | 129751 | 751258 |
| &nbsp;&nbsp;&nbsp;Paysafe \* | 15059 | 165800 |
| &nbsp;&nbsp;&nbsp;Paysign \* | 16004 | 82661 |
| &nbsp;&nbsp;&nbsp;PCB Bancorp | 5081 | 107057 |
| &nbsp;&nbsp;&nbsp;Peapack-Gladstone Financial | 7418 | 187675 |
| &nbsp;&nbsp;&nbsp;PennyMac Financial Services | 13627 | 1714413 |
| &nbsp;&nbsp;&nbsp;PennyMac Mortgage Investment Trust <sup>‡</sup> | 40644 | 489354 |
| &nbsp;&nbsp;&nbsp;Peoples Bancorp | 16253 | 464836 |
| &nbsp;&nbsp;&nbsp;Peoples Bancorp of North Carolina | 1949 | 57359 |
| &nbsp;&nbsp;&nbsp;Peoples Financial Services | 4316 | 192235 |
| &nbsp;&nbsp;&nbsp;Perella Weinberg Partners, Cl A | 28962 | 541010 |
| &nbsp;&nbsp;&nbsp;Pioneer Bancorp \* | 5294 | 69563 |
| &nbsp;&nbsp;&nbsp;Piper Sandler | 8152 | 2602608 |
| &nbsp;&nbsp;&nbsp;PJT Partners, Cl A | 10712 | 1725810 |

---

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

*168*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Plumas Bancorp | 2884 | $118359 |
| &nbsp;&nbsp;&nbsp;Ponce Financial Group \* | 9167 | 129346 |
| &nbsp;&nbsp;&nbsp;PRA Group \* | 18304 | 250948 |
| &nbsp;&nbsp;&nbsp;Preferred Bank | 5443 | 491231 |
| &nbsp;&nbsp;&nbsp;Primis Financial | 10390 | 113095 |
| &nbsp;&nbsp;&nbsp;Princeton Bancorp | 2421 | 75245 |
| &nbsp;&nbsp;&nbsp;Priority Technology Holdings \* | 11379 | 79198 |
| &nbsp;&nbsp;&nbsp;ProAssurance \* | 23722 | 568142 |
| &nbsp;&nbsp;&nbsp;PROG Holdings | 18316 | 529882 |
| &nbsp;&nbsp;&nbsp;Provident Bancorp \* | 7405 | 94414 |
| &nbsp;&nbsp;&nbsp;Provident Financial Services | 60008 | 1097546 |
| &nbsp;&nbsp;&nbsp;QCR Holdings | 7711 | 573621 |
| &nbsp;&nbsp;&nbsp;Radian Group | 63182 | 2144397 |
| &nbsp;&nbsp;&nbsp;RBB Bancorp | 7838 | 146022 |
| &nbsp;&nbsp;&nbsp;Ready Capital <sup>‡</sup> | 77288 | 226454 |
| &nbsp;&nbsp;&nbsp;Red River Bancshares | 2207 | 145794 |
| &nbsp;&nbsp;&nbsp;Redwood Trust <sup>‡</sup> | 61656 | 327393 |
| &nbsp;&nbsp;&nbsp;Regional Management | 4237 | 166726 |
| &nbsp;&nbsp;&nbsp;Remitly Global \* | 77794 | 1247816 |
| &nbsp;&nbsp;&nbsp;Renasant | 43940 | 1477702 |
| &nbsp;&nbsp;&nbsp;Repay Holdings, Cl A \* | 36092 | 154835 |
| &nbsp;&nbsp;&nbsp;Republic Bancorp, Cl A | 3907 | 257471 |
| &nbsp;&nbsp;&nbsp;Rhinebeck Bancorp \* | 2096 | 20939 |
| &nbsp;&nbsp;&nbsp;Richmond Mutual BanCorp | 4239 | 56506 |
| &nbsp;&nbsp;&nbsp;Rithm Property Trust <sup>‡</sup> | 18216 | 48637 |
| &nbsp;&nbsp;&nbsp;Riverview Bancorp | 9442 | 48910 |
| &nbsp;&nbsp;&nbsp;Root, Cl A \* | 5333 | 429413 |
| &nbsp;&nbsp;&nbsp;S&T Bancorp | 17823 | 653035 |
| &nbsp;&nbsp;&nbsp;Safety Insurance Group | 6874 | 472450 |
| &nbsp;&nbsp;&nbsp;SB Financial Group | 2803 | 54827 |
| &nbsp;&nbsp;&nbsp;Seacoast Banking Corp of Florida | 39633 | 1200880 |
| &nbsp;&nbsp;&nbsp;Security National Financial, Cl A \* | 7218 | 57527 |
| &nbsp;&nbsp;&nbsp;Selective Insurance Group | 28330 | 2134382 |
| &nbsp;&nbsp;&nbsp;Selectquote \* | 63720 | 132538 |
| &nbsp;&nbsp;&nbsp;ServisFirst Bancshares | 24035 | 1688939 |
| &nbsp;&nbsp;&nbsp;Seven Hills Realty Trust <sup>‡</sup> | 6866 | 64952 |
| &nbsp;&nbsp;&nbsp;Sezzle \* | 7405 | 485398 |
| &nbsp;&nbsp;&nbsp;Shore Bancshares | 14283 | 222958 |
| &nbsp;&nbsp;&nbsp;Siebert Financial \* | 6477 | 18200 |

---

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

*169*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Sierra Bancorp | 5734 | $165025 |
| &nbsp;&nbsp;&nbsp;Silvercrest Asset Management Group, Cl A | 3760 | 53166 |
| &nbsp;&nbsp;&nbsp;Simmons First National, Cl A | 66043 | 1147827 |
| &nbsp;&nbsp;&nbsp;Skyward Specialty Insurance Group \* | 16652 | 759165 |
| &nbsp;&nbsp;&nbsp;Slide Insurance Holdings Inc \* | 12487 | 199667 |
| &nbsp;&nbsp;&nbsp;SmartFinancial | 6774 | 236887 |
| &nbsp;&nbsp;&nbsp;Sound Financial Bancorp | 990 | 44194 |
| &nbsp;&nbsp;&nbsp;South Plains Financial | 5966 | 217759 |
| &nbsp;&nbsp;&nbsp;Southern First Bancshares \* | 3631 | 159183 |
| &nbsp;&nbsp;&nbsp;Southern Missouri Bancorp | 4512 | 236609 |
| &nbsp;&nbsp;&nbsp;Southside Bancshares | 13414 | 377202 |
| &nbsp;&nbsp;&nbsp;SR Bancorp | 3688 | 54287 |
| &nbsp;&nbsp;&nbsp;Stellar Bancorp | 21918 | 645047 |
| &nbsp;&nbsp;&nbsp;StepStone Group, Cl A | 32496 | 1978356 |
| &nbsp;&nbsp;&nbsp;Stewart Information Services | 12946 | 883823 |
| &nbsp;&nbsp;&nbsp;Stock Yards Bancorp | 12258 | 797015 |
| &nbsp;&nbsp;&nbsp;StoneX Group \* | 21395 | 1966628 |
| &nbsp;&nbsp;&nbsp;Sunrise Realty Trust <sup>‡</sup> | 4707 | 46505 |
| &nbsp;&nbsp;&nbsp;SWK Holdings | 1410 | 22828 |
| &nbsp;&nbsp;&nbsp;TeraWulf \* | 132171 | 2048651 |
| &nbsp;&nbsp;&nbsp;Texas Capital Bancshares \* | 21196 | 1777073 |
| &nbsp;&nbsp;&nbsp;Third Coast Bancshares \* | 5970 | 219398 |
| &nbsp;&nbsp;&nbsp;Timberland Bancorp | 3482 | 111842 |
| &nbsp;&nbsp;&nbsp;Tiptree | 10873 | 192561 |
| &nbsp;&nbsp;&nbsp;Tompkins Financial | 6289 | 399100 |
| &nbsp;&nbsp;&nbsp;Towne Bank | 34217 | 1112395 |
| &nbsp;&nbsp;&nbsp;TPG RE Finance Trust <sup>‡</sup> | 31501 | 272484 |
| &nbsp;&nbsp;&nbsp;TriCo Bancshares | 14109 | 624041 |
| &nbsp;&nbsp;&nbsp;Triumph Financial \* | 10580 | 576187 |
| &nbsp;&nbsp;&nbsp;Trupanion \* | 17275 | 690827 |
| &nbsp;&nbsp;&nbsp;TrustCo Bank NY | 8644 | 325965 |
| &nbsp;&nbsp;&nbsp;Trustmark | 26461 | 984878 |
| &nbsp;&nbsp;&nbsp;Two Harbors Investment <sup>‡</sup> | 48640 | 472781 |
| &nbsp;&nbsp;&nbsp;UMB Financial | 33856 | 3618529 |
| &nbsp;&nbsp;&nbsp;Union Bankshares | 1741 | 39730 |
| &nbsp;&nbsp;&nbsp;United Bankshares | 65971 | 2361102 |
| &nbsp;&nbsp;&nbsp;United Community Banks | 57056 | 1666035 |
| &nbsp;&nbsp;&nbsp;United Fire Group | 9752 | 294803 |
| &nbsp;&nbsp;&nbsp;United Security Bancshares | 6509 | 59655 |

---

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

*170*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Unity Bancorp | 3415 | $155075 |
| &nbsp;&nbsp;&nbsp;Universal Insurance Holdings | 11793 | 363460 |
| &nbsp;&nbsp;&nbsp;Univest Financial | 13430 | 394305 |
| &nbsp;&nbsp;&nbsp;Upstart Holdings \* | 39220 | 1863734 |
| &nbsp;&nbsp;&nbsp;USCB Financial Holdings | 4970 | 85782 |
| &nbsp;&nbsp;&nbsp;Valley National Bancorp | 226021 | 2456848 |
| &nbsp;&nbsp;&nbsp;Value Line | 363 | 13308 |
| &nbsp;&nbsp;&nbsp;Velocity Financial \* | 4434 | 82561 |
| &nbsp;&nbsp;&nbsp;Victory Capital Holdings, Cl A | 20625 | 1284319 |
| &nbsp;&nbsp;&nbsp;Virginia National Bankshares | 2212 | 87993 |
| &nbsp;&nbsp;&nbsp;Virtus Investment Partners | 3058 | 497904 |
| &nbsp;&nbsp;&nbsp;Vroom \* | 493 | 11620 |
| &nbsp;&nbsp;&nbsp;WaFd | 36724 | 1066098 |
| &nbsp;&nbsp;&nbsp;Walker & Dunlop | 15359 | 1227491 |
| &nbsp;&nbsp;&nbsp;Washington Trust Bancorp | 8925 | 243117 |
| &nbsp;&nbsp;&nbsp;Waterstone Financial | 7130 | 109089 |
| &nbsp;&nbsp;&nbsp;WesBanco | 44119 | 1327982 |
| &nbsp;&nbsp;&nbsp;West BanCorp | 7006 | 149018 |
| &nbsp;&nbsp;&nbsp;Westamerica BanCorp | 11490 | 547498 |
| &nbsp;&nbsp;&nbsp;Western New England Bancorp | 8400 | 95508 |
| &nbsp;&nbsp;&nbsp;Westwood Holdings Group | 3560 | 59630 |
| &nbsp;&nbsp;&nbsp;WisdomTree | 55935 | 668983 |
| &nbsp;&nbsp;&nbsp;World Acceptance \* | 1220 | 155513 |
| &nbsp;&nbsp;&nbsp;WSFS Financial | 26083 | 1358663 |
|  |  | 216620662 |
| Health Care — 16.5% |  |  |
| &nbsp;&nbsp;&nbsp;10X Genomics, Cl A \* | 49800 | 679272 |
| &nbsp;&nbsp;&nbsp;4D Molecular Therapeutics \* | 18611 | 214027 |
| &nbsp;&nbsp;&nbsp;Aardvark Therapeutics <sup>\*(A)</sup> | 2599 | 27783 |
| &nbsp;&nbsp;&nbsp;Abeona Therapeutics \* | 20588 | 99028 |
| &nbsp;&nbsp;&nbsp;Absci \* | 61415 | 262856 |
| &nbsp;&nbsp;&nbsp;ACADIA Pharmaceuticals \* | 57959 | 1315669 |
| &nbsp;&nbsp;&nbsp;Accuray \* | 47426 | 66871 |
| &nbsp;&nbsp;&nbsp;Aclaris Therapeutics \* | 40108 | 101072 |
| &nbsp;&nbsp;&nbsp;Actuate Therapeutics \* | 2697 | 17962 |
| &nbsp;&nbsp;&nbsp;AdaptHealth, Cl A \* | 47237 | 424661 |
| &nbsp;&nbsp;&nbsp;Adaptive Biotechnologies \* | 69590 | 1208082 |
| &nbsp;&nbsp;&nbsp;Addus HomeCare \* | 8456 | 988422 |

---

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

*171*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;ADMA Biologics \* | 107971 | $1671391 |
| &nbsp;&nbsp;&nbsp;agilon health \* | 143115 | 113991 |
| &nbsp;&nbsp;&nbsp;Agios Pharmaceuticals \* | 26301 | 1137255 |
| &nbsp;&nbsp;&nbsp;AirSculpt Technologies <sup>\*(A)</sup> | 7757 | 80750 |
| &nbsp;&nbsp;&nbsp;Akebia Therapeutics \* | 116416 | 257279 |
| &nbsp;&nbsp;&nbsp;Akero Therapeutics \* | 32542 | 1763776 |
| &nbsp;&nbsp;&nbsp;Aldeyra Therapeutics \* | 25129 | 127404 |
| &nbsp;&nbsp;&nbsp;Alector \* | 32290 | 47466 |
| &nbsp;&nbsp;&nbsp;Alignment Healthcare \* | 68082 | 1147863 |
| &nbsp;&nbsp;&nbsp;Alkermes PLC \* | 75553 | 2319477 |
| &nbsp;&nbsp;&nbsp;Allogene Therapeutics \* | 71550 | 88722 |
| &nbsp;&nbsp;&nbsp;Alpha Teknova \* | 4921 | 25835 |
| &nbsp;&nbsp;&nbsp;Alphatec Holdings \* | 54024 | 1025916 |
| &nbsp;&nbsp;&nbsp;Altimmune \* | 38054 | 154119 |
| &nbsp;&nbsp;&nbsp;Alumis \* | 26104 | 123994 |
| &nbsp;&nbsp;&nbsp;Amicus Therapeutics \* | 129681 | 1171019 |
| &nbsp;&nbsp;&nbsp;AMN Healthcare Services \* | 17772 | 349931 |
| &nbsp;&nbsp;&nbsp;Amneal Pharmaceuticals \* | 69918 | 756513 |
| &nbsp;&nbsp;&nbsp;Amphastar Pharmaceuticals \* | 17205 | 438728 |
| &nbsp;&nbsp;&nbsp;Amylyx Pharmaceuticals \* | 32160 | 447989 |
| &nbsp;&nbsp;&nbsp;AnaptysBio \* | 9037 | 330573 |
| &nbsp;&nbsp;&nbsp;Anavex Life Sciences <sup>\*(A)</sup> | 38928 | 310256 |
| &nbsp;&nbsp;&nbsp;AngioDynamics \* | 18082 | 217526 |
| &nbsp;&nbsp;&nbsp;ANI Pharmaceuticals \* | 8466 | 767020 |
| &nbsp;&nbsp;&nbsp;Anika Therapeutics \* | 5828 | 56823 |
| &nbsp;&nbsp;&nbsp;Annexon \* | 44394 | 140285 |
| &nbsp;&nbsp;&nbsp;Anteris Technologies Global \* | 15857 | 71198 |
| &nbsp;&nbsp;&nbsp;Apogee Therapeutics \* | 15252 | 863111 |
| &nbsp;&nbsp;&nbsp;Aquestive Therapeutics \* | 40070 | 273277 |
| &nbsp;&nbsp;&nbsp;Arbutus Biopharma \* | 70154 | 331828 |
| &nbsp;&nbsp;&nbsp;Arcellx \* | 15939 | 1438495 |
| &nbsp;&nbsp;&nbsp;Arcturus Therapeutics Holdings \* | 11729 | 116938 |
| &nbsp;&nbsp;&nbsp;Arcus Biosciences \* | 32097 | 632953 |
| &nbsp;&nbsp;&nbsp;Arcutis Biotherapeutics \* | 49879 | 1262437 |
| &nbsp;&nbsp;&nbsp;Ardelyx \* | 109889 | 665927 |
| &nbsp;&nbsp;&nbsp;Ardent Health Partners \* | 10752 | 156549 |
| &nbsp;&nbsp;&nbsp;ArriVent Biopharma <sup>\*(A)</sup> | 11533 | 216013 |
| &nbsp;&nbsp;&nbsp;Arrowhead Pharmaceuticals \* | 56190 | 2381894 |
| &nbsp;&nbsp;&nbsp;ARS Pharmaceuticals \* | 27338 | 244948 |

---

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

*172*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Artivion \* | 17757 | $805635 |
| &nbsp;&nbsp;&nbsp;Arvinas \* | 30418 | 308439 |
| &nbsp;&nbsp;&nbsp;Astrana Health \* | 19010 | 593302 |
| &nbsp;&nbsp;&nbsp;Astria Therapeutics \* | 17137 | 216440 |
| &nbsp;&nbsp;&nbsp;Atea Pharmaceuticals \* | 36155 | 117504 |
| &nbsp;&nbsp;&nbsp;Atlantic International \* | 4334 | 12005 |
| &nbsp;&nbsp;&nbsp;AtriCure \* | 22532 | 778481 |
| &nbsp;&nbsp;&nbsp;aTyr Pharma \* | 40943 | 35457 |
| &nbsp;&nbsp;&nbsp;Aura Biosciences \* | 20508 | 125714 |
| &nbsp;&nbsp;&nbsp;Avadel Pharmaceuticals \* | 41603 | 785881 |
| &nbsp;&nbsp;&nbsp;Avanos Medical \* | 20775 | 230810 |
| &nbsp;&nbsp;&nbsp;Aveanna Healthcare Holdings \* | 22813 | 206458 |
| &nbsp;&nbsp;&nbsp;Avidity Biosciences \* | 47487 | 3316967 |
| &nbsp;&nbsp;&nbsp;Avita Medical \* | 5691 | 22024 |
| &nbsp;&nbsp;&nbsp;Axogen \* | 20441 | 454199 |
| &nbsp;&nbsp;&nbsp;Axsome Therapeutics \* | 18854 | 2545101 |
| &nbsp;&nbsp;&nbsp;Azenta \* | 19017 | 574313 |
| &nbsp;&nbsp;&nbsp;Beam Therapeutics \* | 44525 | 1113570 |
| &nbsp;&nbsp;&nbsp;Beta Bionics Inc \* | 17765 | 483563 |
| &nbsp;&nbsp;&nbsp;Bicara Therapeutics \* | 15852 | 257595 |
| &nbsp;&nbsp;&nbsp;BioAge Labs \* | 11192 | 84723 |
| &nbsp;&nbsp;&nbsp;BioCryst Pharmaceuticals \* | 97544 | 714022 |
| &nbsp;&nbsp;&nbsp;Biohaven \* | 42125 | 724550 |
| &nbsp;&nbsp;&nbsp;BioLife Solutions \* | 17673 | 492547 |
| &nbsp;&nbsp;&nbsp;Biote, Cl A \* | 13588 | 38998 |
| &nbsp;&nbsp;&nbsp;Bioventus, Cl A \* | 21375 | 140006 |
| &nbsp;&nbsp;&nbsp;Bridgebio Pharma \* | 72830 | 4562071 |
| &nbsp;&nbsp;&nbsp;BrightSpring Health Services \* | 49875 | 1648369 |
| &nbsp;&nbsp;&nbsp;Brookdale Senior Living \* | 106915 | 991102 |
| &nbsp;&nbsp;&nbsp;Butterfly Network \* | 89050 | 239545 |
| &nbsp;&nbsp;&nbsp;Candel Therapeutics <sup>\*(A)</sup> | 19560 | 105233 |
| &nbsp;&nbsp;&nbsp;Capricor Therapeutics <sup>\*(A)</sup> | 18036 | 117414 |
| &nbsp;&nbsp;&nbsp;Capsovision Inc \* | 2663 | 12995 |
| &nbsp;&nbsp;&nbsp;Cardiff Oncology <sup>\*(A)</sup> | 28938 | 68004 |
| &nbsp;&nbsp;&nbsp;CareDx \* | 25269 | 379035 |
| &nbsp;&nbsp;&nbsp;Carlsmed Inc \* | 3166 | 40810 |
| &nbsp;&nbsp;&nbsp;Cartesian Therapeutics <sup>\*(A)</sup> | 4904 | 40066 |
| &nbsp;&nbsp;&nbsp;Castle Biosciences \* | 13184 | 336192 |
| &nbsp;&nbsp;&nbsp;Catalyst Pharmaceuticals \* | 53918 | 1146836 |

---

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

*173*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Celcuity \* | 13745 | $1060564 |
| &nbsp;&nbsp;&nbsp;Celldex Therapeutics \* | 30500 | 815265 |
| &nbsp;&nbsp;&nbsp;Ceribell \* | 11549 | 131659 |
| &nbsp;&nbsp;&nbsp;Cerus \* | 85630 | 125876 |
| &nbsp;&nbsp;&nbsp;CG oncology \* | 26027 | 1126188 |
| &nbsp;&nbsp;&nbsp;Cidara Therapeutics \* | 7200 | 786528 |
| &nbsp;&nbsp;&nbsp;Claritev \* | 3541 | 230519 |
| &nbsp;&nbsp;&nbsp;ClearPoint Neuro \* | 12204 | 283377 |
| &nbsp;&nbsp;&nbsp;Clover Health Investments, Cl A \* | 188041 | 663785 |
| &nbsp;&nbsp;&nbsp;Codexis \* | 37954 | 89951 |
| &nbsp;&nbsp;&nbsp;Cogent Biosciences \* | 60543 | 986851 |
| &nbsp;&nbsp;&nbsp;Coherus Biosciences <sup>\*(A)</sup> | 49540 | 83227 |
| &nbsp;&nbsp;&nbsp;Collegium Pharmaceutical \* | 14928 | 537408 |
| &nbsp;&nbsp;&nbsp;Community Health Systems \* | 60223 | 233665 |
| &nbsp;&nbsp;&nbsp;Compass Therapeutics \* | 46428 | 173641 |
| &nbsp;&nbsp;&nbsp;Concentra Group Holdings Parent | 54422 | 1084086 |
| &nbsp;&nbsp;&nbsp;CONMED | 14506 | 638264 |
| &nbsp;&nbsp;&nbsp;CorMedix \* | 32649 | 363383 |
| &nbsp;&nbsp;&nbsp;CorVel \* | 13566 | 1003206 |
| &nbsp;&nbsp;&nbsp;Corvus Pharmaceuticals \* | 27665 | 222427 |
| &nbsp;&nbsp;&nbsp;Crinetics Pharmaceuticals \* | 42105 | 1831568 |
| &nbsp;&nbsp;&nbsp;Cross Country Healthcare \* | 14520 | 178015 |
| &nbsp;&nbsp;&nbsp;CryoPort \* | 22651 | 209295 |
| &nbsp;&nbsp;&nbsp;Cullinan Therapeutics \* | 23652 | 204826 |
| &nbsp;&nbsp;&nbsp;CVRx \* | 7602 | 77464 |
| &nbsp;&nbsp;&nbsp;Cytek Biosciences \* | 54505 | 212570 |
| &nbsp;&nbsp;&nbsp;Cytokinetics \* | 54400 | 3459296 |
| &nbsp;&nbsp;&nbsp;Day One Biopharmaceuticals \* | 33369 | 248265 |
| &nbsp;&nbsp;&nbsp;Definitive Healthcare, Cl A \* | 16724 | 46325 |
| &nbsp;&nbsp;&nbsp;Delcath Systems \* | 13804 | 135693 |
| &nbsp;&nbsp;&nbsp;Denali Therapeutics \* | 61663 | 1003874 |
| &nbsp;&nbsp;&nbsp;Design Therapeutics \* | 11130 | 74571 |
| &nbsp;&nbsp;&nbsp;DiaMedica Therapeutics \* | 14823 | 104650 |
| &nbsp;&nbsp;&nbsp;Dianthus Therapeutics \* | 7660 | 267947 |
| &nbsp;&nbsp;&nbsp;Disc Medicine, Cl A \* | 10767 | 928331 |
| &nbsp;&nbsp;&nbsp;DocGo \* | 42972 | 46839 |
| &nbsp;&nbsp;&nbsp;Dynavax Technologies \* | 48070 | 493198 |
| &nbsp;&nbsp;&nbsp;Dyne Therapeutics \* | 50861 | 1148441 |
| &nbsp;&nbsp;&nbsp;Edgewise Therapeutics \* | 31432 | 574577 |

---

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

*174*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Editas Medicine, Cl A \* | 39124 | $120502 |
| &nbsp;&nbsp;&nbsp;Electromed \* | 3132 | 75356 |
| &nbsp;&nbsp;&nbsp;Eledon Pharmaceuticals \* | 26052 | 112545 |
| &nbsp;&nbsp;&nbsp;Embecta | 27139 | 362034 |
| &nbsp;&nbsp;&nbsp;Emergent BioSolutions \* | 25004 | 312050 |
| &nbsp;&nbsp;&nbsp;Enanta Pharmaceuticals \* | 9350 | 102476 |
| &nbsp;&nbsp;&nbsp;Enhabit \* | 22982 | 186844 |
| &nbsp;&nbsp;&nbsp;Enliven Therapeutics \* | 19489 | 456432 |
| &nbsp;&nbsp;&nbsp;Enovis \* | 26625 | 831765 |
| &nbsp;&nbsp;&nbsp;Ensign Group | 26175 | 4714118 |
| &nbsp;&nbsp;&nbsp;Entrada Therapeutics \* | 13171 | 91538 |
| &nbsp;&nbsp;&nbsp;Erasca \* | 80476 | 194752 |
| &nbsp;&nbsp;&nbsp;Esperion Therapeutics \* | 92527 | 274805 |
| &nbsp;&nbsp;&nbsp;Eton Pharmaceuticals \* | 11885 | 214049 |
| &nbsp;&nbsp;&nbsp;Evolent Health, Cl A \* | 54410 | 362915 |
| &nbsp;&nbsp;&nbsp;Evolus \* | 27378 | 176862 |
| &nbsp;&nbsp;&nbsp;EyePoint Pharmaceuticals \* | 27331 | 357763 |
| &nbsp;&nbsp;&nbsp;Fate Therapeutics \* | 50939 | 68768 |
| &nbsp;&nbsp;&nbsp;Foghorn Therapeutics \* | 15455 | 68157 |
| &nbsp;&nbsp;&nbsp;Fortrea Holdings \* | 42547 | 445042 |
| &nbsp;&nbsp;&nbsp;Fulcrum Therapeutics \* | 20104 | 175910 |
| &nbsp;&nbsp;&nbsp;Fulgent Genetics \* | 9658 | 216822 |
| &nbsp;&nbsp;&nbsp;GeneDx Holdings, Cl A \* | 8738 | 1196320 |
| &nbsp;&nbsp;&nbsp;Geron \* | 253253 | 319099 |
| &nbsp;&nbsp;&nbsp;Ginkgo Bioworks Holdings <sup>\*(A)</sup> | 18018 | 234054 |
| &nbsp;&nbsp;&nbsp;Glaukos \* | 26046 | 2293871 |
| &nbsp;&nbsp;&nbsp;Gossamer Bio \* | 87730 | 214939 |
| &nbsp;&nbsp;&nbsp;GRAIL \* | 14469 | 1330135 |
| &nbsp;&nbsp;&nbsp;Greenwich Lifesciences <sup>\*(A)</sup> | 2990 | 27538 |
| &nbsp;&nbsp;&nbsp;Guardant Health \* | 55626 | 5174331 |
| &nbsp;&nbsp;&nbsp;Gyre Therapeutics \* | 4224 | 32736 |
| &nbsp;&nbsp;&nbsp;Haemonetics \* | 22451 | 1122775 |
| &nbsp;&nbsp;&nbsp;Harmony Biosciences Holdings \* | 20375 | 582114 |
| &nbsp;&nbsp;&nbsp;Harrow \* | 14706 | 555446 |
| &nbsp;&nbsp;&nbsp;Health Catalyst \* | 31896 | 103024 |
| &nbsp;&nbsp;&nbsp;HealthEquity \* | 39764 | 3760879 |
| &nbsp;&nbsp;&nbsp;HealthStream | 11362 | 279505 |
| &nbsp;&nbsp;&nbsp;Heron Therapeutics \* | 72217 | 83772 |
| &nbsp;&nbsp;&nbsp;Hims & Hers Health \* | 88800 | 4036848 |

---

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

*175*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Humacyte <sup>\*(A)</sup> | 58106 | $97037 |
| &nbsp;&nbsp;&nbsp;ICU Medical \* | 11259 | 1352093 |
| &nbsp;&nbsp;&nbsp;Ideaya Biosciences \* | 37404 | 1191691 |
| &nbsp;&nbsp;&nbsp;ImmunityBio \* | 106645 | 255948 |
| &nbsp;&nbsp;&nbsp;Immunome \* | 35939 | 577540 |
| &nbsp;&nbsp;&nbsp;Immunovant \* | 31818 | 785268 |
| &nbsp;&nbsp;&nbsp;Inhibikase Therapeutics \* | 28103 | 41311 |
| &nbsp;&nbsp;&nbsp;Inhibrx Biosciences \* | 4219 | 344524 |
| &nbsp;&nbsp;&nbsp;Inmune Bio \* | 9708 | 17766 |
| &nbsp;&nbsp;&nbsp;Innovage Holding \* | 9498 | 42646 |
| &nbsp;&nbsp;&nbsp;Innoviva \* | 29320 | 533624 |
| &nbsp;&nbsp;&nbsp;Inogen \* | 11106 | 91513 |
| &nbsp;&nbsp;&nbsp;Integer Holdings \* | 16067 | 1037446 |
| &nbsp;&nbsp;&nbsp;Integra LifeSciences Holdings \* | 31108 | 373607 |
| &nbsp;&nbsp;&nbsp;Intellia Therapeutics \* | 46231 | 583435 |
| &nbsp;&nbsp;&nbsp;Iovance Biotherapeutics \* | 120844 | 238063 |
| &nbsp;&nbsp;&nbsp;iRadimed | 3796 | 291571 |
| &nbsp;&nbsp;&nbsp;iRhythm Technologies \* | 14858 | 2782903 |
| &nbsp;&nbsp;&nbsp;Ironwood Pharmaceuticals \* | 73357 | 140845 |
| &nbsp;&nbsp;&nbsp;Jade Biosciences | 15039 | 147382 |
| &nbsp;&nbsp;&nbsp;Janux Therapeutics \* | 18332 | 526312 |
| &nbsp;&nbsp;&nbsp;Joint \* | 6609 | 52145 |
| &nbsp;&nbsp;&nbsp;Journey Medical \* | 5639 | 45789 |
| &nbsp;&nbsp;&nbsp;KalVista Pharmaceuticals \* | 17628 | 192321 |
| &nbsp;&nbsp;&nbsp;Keros Therapeutics \* | 15651 | 238208 |
| &nbsp;&nbsp;&nbsp;Kestra Medical Technologies \* | 6092 | 166799 |
| &nbsp;&nbsp;&nbsp;Kodiak Sciences \* | 15241 | 276243 |
| &nbsp;&nbsp;&nbsp;Korro Bio \* | 3072 | 125676 |
| &nbsp;&nbsp;&nbsp;KORU Medical Systems \* | 20077 | 79505 |
| &nbsp;&nbsp;&nbsp;Krystal Biotech \* | 11541 | 2279463 |
| &nbsp;&nbsp;&nbsp;Kura Oncology \* | 37547 | 385608 |
| &nbsp;&nbsp;&nbsp;Kymera Therapeutics \* | 23483 | 1452189 |
| &nbsp;&nbsp;&nbsp;Lantheus Holdings \* | 31766 | 1832581 |
| &nbsp;&nbsp;&nbsp;Larimar Therapeutics \* | 21955 | 85405 |
| &nbsp;&nbsp;&nbsp;LeMaitre Vascular | 9718 | 841676 |
| &nbsp;&nbsp;&nbsp;LENSAR \* | 4403 | 54157 |
| &nbsp;&nbsp;&nbsp;LENZ Therapeutics \* | 7515 | 223346 |
| &nbsp;&nbsp;&nbsp;Lexeo Therapeutics \* | 11509 | 115205 |
| &nbsp;&nbsp;&nbsp;Lifecore Biomedical \* | 12603 | 90616 |

---

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

*176*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;LifeMD \* | 17293 | $102202 |
| &nbsp;&nbsp;&nbsp;LifeStance Health Group \* | 61430 | 301007 |
| &nbsp;&nbsp;&nbsp;Ligand Pharmaceuticals \* | 8877 | 1698259 |
| &nbsp;&nbsp;&nbsp;Liquidia \* | 29917 | 728778 |
| &nbsp;&nbsp;&nbsp;LivaNova PLC \* | 25390 | 1336276 |
| &nbsp;&nbsp;&nbsp;Lucid Diagnostics \* | 32031 | 38758 |
| &nbsp;&nbsp;&nbsp;Madrigal Pharmaceuticals \* | 8658 | 3626836 |
| &nbsp;&nbsp;&nbsp;MannKind \* | 140998 | 788179 |
| &nbsp;&nbsp;&nbsp;Maravai LifeSciences Holdings, Cl A \* | 51037 | 160256 |
| &nbsp;&nbsp;&nbsp;MaxCyte \* | 47720 | 73489 |
| &nbsp;&nbsp;&nbsp;Maze Therapeutics Inc \* | 9127 | 300370 |
| &nbsp;&nbsp;&nbsp;MBX Biosciences \* | 7155 | 157124 |
| &nbsp;&nbsp;&nbsp;MeiraGTx Holdings PLC \* | 19406 | 176206 |
| &nbsp;&nbsp;&nbsp;Merit Medical Systems \* | 27249 | 2385377 |
| &nbsp;&nbsp;&nbsp;Mesa Laboratories | 2436 | 175124 |
| &nbsp;&nbsp;&nbsp;Metsera Inc \* | 24863 | 1567364 |
| &nbsp;&nbsp;&nbsp;MiMedx Group \* | 54871 | 419763 |
| &nbsp;&nbsp;&nbsp;Mind Medicine MindMed \* | 34912 | 495750 |
| &nbsp;&nbsp;&nbsp;Mineralys Therapeutics \* | 18187 | 743121 |
| &nbsp;&nbsp;&nbsp;Mirum Pharmaceuticals \* | 18805 | 1366183 |
| &nbsp;&nbsp;&nbsp;Monopar Therapeutics \* | 1636 | 140958 |
| &nbsp;&nbsp;&nbsp;Monte Rosa Therapeutics \* | 21727 | 279192 |
| &nbsp;&nbsp;&nbsp;Myomo \* | 15123 | 14004 |
| &nbsp;&nbsp;&nbsp;Myriad Genetics \* | 42225 | 339489 |
| &nbsp;&nbsp;&nbsp;National HealthCare | 5911 | 706010 |
| &nbsp;&nbsp;&nbsp;National Research | 5930 | 79225 |
| &nbsp;&nbsp;&nbsp;Neogen \* | 101848 | 628402 |
| &nbsp;&nbsp;&nbsp;NeoGenomics \* | 60072 | 586903 |
| &nbsp;&nbsp;&nbsp;Neurogene \* | 4646 | 159172 |
| &nbsp;&nbsp;&nbsp;Neuronetics \* | 16808 | 44541 |
| &nbsp;&nbsp;&nbsp;NeuroPace \* | 11137 | 110702 |
| &nbsp;&nbsp;&nbsp;Niagen Bioscience \* | 24075 | 181526 |
| &nbsp;&nbsp;&nbsp;Nkarta \* | 19861 | 41907 |
| &nbsp;&nbsp;&nbsp;Novavax <sup>\*(A)</sup> | 69720 | 585648 |
| &nbsp;&nbsp;&nbsp;Novocure \* | 47317 | 606131 |
| &nbsp;&nbsp;&nbsp;Nurix Therapeutics \* | 34947 | 452214 |
| &nbsp;&nbsp;&nbsp;Nutex Health <sup>\*(A)</sup> | 1590 | 195665 |
| &nbsp;&nbsp;&nbsp;Nuvalent, Cl A \* | 20006 | 1986996 |
| &nbsp;&nbsp;&nbsp;Nuvation Bio \* | 116235 | 606747 |

---

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

*177*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Nuvectis Pharma \* | 6045 | $40562 |
| &nbsp;&nbsp;&nbsp;Ocular Therapeutix \* | 81035 | 944868 |
| &nbsp;&nbsp;&nbsp;Olema Pharmaceuticals \* | 27729 | 248729 |
| &nbsp;&nbsp;&nbsp;Omada Health Inc \* | 4296 | 105553 |
| &nbsp;&nbsp;&nbsp;Omeros <sup>\*(A)</sup> | 30340 | 222392 |
| &nbsp;&nbsp;&nbsp;OmniAb \* | 43665 | 67681 |
| &nbsp;&nbsp;&nbsp;Omnicell \* | 21709 | 728771 |
| &nbsp;&nbsp;&nbsp;Oncology Institute \* | 27898 | 124425 |
| &nbsp;&nbsp;&nbsp;OPKO Health \* | 190700 | 259352 |
| &nbsp;&nbsp;&nbsp;OptimizeRx \* | 7265 | 148860 |
| &nbsp;&nbsp;&nbsp;Option Care Health \* | 76754 | 1997907 |
| &nbsp;&nbsp;&nbsp;OraSure Technologies \* | 34858 | 95511 |
| &nbsp;&nbsp;&nbsp;Organogenesis Holdings, Cl A \* | 31348 | 133229 |
| &nbsp;&nbsp;&nbsp;ORIC Pharmaceuticals \* | 26898 | 353978 |
| &nbsp;&nbsp;&nbsp;Orthofix Medical \* | 17990 | 277766 |
| &nbsp;&nbsp;&nbsp;OrthoPediatrics \* | 7852 | 132228 |
| &nbsp;&nbsp;&nbsp;Oruka Therapeutics \* | 12665 | 356773 |
| &nbsp;&nbsp;&nbsp;Outset Medical \* | 7696 | 100972 |
| &nbsp;&nbsp;&nbsp;Owens & Minor \* | 34958 | 138783 |
| &nbsp;&nbsp;&nbsp;Pacific Biosciences of California \* | 128033 | 299597 |
| &nbsp;&nbsp;&nbsp;Pacira BioSciences \* | 21429 | 458152 |
| &nbsp;&nbsp;&nbsp;PACS Group \* | 20431 | 246806 |
| &nbsp;&nbsp;&nbsp;Palvella Therapeutics \* | 3188 | 254530 |
| &nbsp;&nbsp;&nbsp;Pediatrix Medical Group \* | 39764 | 674795 |
| &nbsp;&nbsp;&nbsp;Pennant Group \* | 15706 | 388409 |
| &nbsp;&nbsp;&nbsp;Personalis \* | 23251 | 224140 |
| &nbsp;&nbsp;&nbsp;Perspective Therapeutics \* | 28126 | 76784 |
| &nbsp;&nbsp;&nbsp;Phathom Pharmaceuticals \* | 19659 | 266379 |
| &nbsp;&nbsp;&nbsp;Phibro Animal Health, Cl A | 9526 | 400664 |
| &nbsp;&nbsp;&nbsp;Phreesia \* | 26655 | 603469 |
| &nbsp;&nbsp;&nbsp;Praxis Precision Medicines \* | 9619 | 1911872 |
| &nbsp;&nbsp;&nbsp;Precigen <sup>\*(A)</sup> | 69324 | 287001 |
| &nbsp;&nbsp;&nbsp;Premier, Cl A | 38423 | 1080455 |
| &nbsp;&nbsp;&nbsp;Prestige Consumer Healthcare \* | 23055 | 1397133 |
| &nbsp;&nbsp;&nbsp;Prime Medicine \* | 35142 | 173601 |
| &nbsp;&nbsp;&nbsp;Privia Health Group \* | 53581 | 1302018 |
| &nbsp;&nbsp;&nbsp;PROCEPT BioRobotics \* | 24473 | 832816 |
| &nbsp;&nbsp;&nbsp;Pro-Dex \* | 977 | 35406 |
| &nbsp;&nbsp;&nbsp;Progyny \* | 34978 | 654438 |

---

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

*178*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Protagonist Therapeutics \* | 27119 | $2132096 |
| &nbsp;&nbsp;&nbsp;Protalix BioTherapeutics \* | 32414 | 76821 |
| &nbsp;&nbsp;&nbsp;Protara Therapeutics \* | 14929 | 77332 |
| &nbsp;&nbsp;&nbsp;PTC Therapeutics \* | 36195 | 2472480 |
| &nbsp;&nbsp;&nbsp;Pulmonx \* | 18417 | 36834 |
| &nbsp;&nbsp;&nbsp;Pulse Biosciences <sup>\*(A)</sup> | 8141 | 137827 |
| &nbsp;&nbsp;&nbsp;Puma Biotechnology \* | 19641 | 100169 |
| &nbsp;&nbsp;&nbsp;Quanterix \* | 19207 | 102565 |
| &nbsp;&nbsp;&nbsp;Quantum-Si \* | 73355 | 157713 |
| &nbsp;&nbsp;&nbsp;QuidelOrtho \* | 31583 | 852425 |
| &nbsp;&nbsp;&nbsp;RadNet \* | 31810 | 2417242 |
| &nbsp;&nbsp;&nbsp;Rapport Therapeutics \* | 8177 | 236561 |
| &nbsp;&nbsp;&nbsp;Recursion Pharmaceuticals, Cl A \* | 170804 | 942838 |
| &nbsp;&nbsp;&nbsp;REGENXBIO \* | 21696 | 277058 |
| &nbsp;&nbsp;&nbsp;Relay Therapeutics \* | 61365 | 438146 |
| &nbsp;&nbsp;&nbsp;Replimune Group, Cl Rights \* | 32303 | 314308 |
| &nbsp;&nbsp;&nbsp;Rezolute \* | 35849 | 334113 |
| &nbsp;&nbsp;&nbsp;Rhythm Pharmaceuticals \* | 24338 | 2768691 |
| &nbsp;&nbsp;&nbsp;Rigel Pharmaceuticals \* | 8139 | 257030 |
| &nbsp;&nbsp;&nbsp;Rocket Pharmaceuticals \* | 39595 | 149273 |
| &nbsp;&nbsp;&nbsp;RxSight \* | 16267 | 142987 |
| &nbsp;&nbsp;&nbsp;Sana Biotechnology <sup>\*(A)</sup> | 61860 | 306207 |
| &nbsp;&nbsp;&nbsp;Sanara Medtech \* | 1411 | 41342 |
| &nbsp;&nbsp;&nbsp;SANUWAVE Health \* | 3246 | 93939 |
| &nbsp;&nbsp;&nbsp;Savara \* | 53461 | 221863 |
| &nbsp;&nbsp;&nbsp;SBC Medical Group Holdings \* | 2559 | 8342 |
| &nbsp;&nbsp;&nbsp;Scholar Rock Holding \* | 37803 | 1119725 |
| &nbsp;&nbsp;&nbsp;Schrodinger \* | 26223 | 551732 |
| &nbsp;&nbsp;&nbsp;Select Medical Holdings | 52091 | 720419 |
| &nbsp;&nbsp;&nbsp;SELLAS Life Sciences Group \* | 46902 | 85362 |
| &nbsp;&nbsp;&nbsp;Semler Scientific <sup>\*(A)</sup> | 5614 | 148546 |
| &nbsp;&nbsp;&nbsp;Septerna, Inc. <sup>\*(A)</sup> | 9951 | 204991 |
| &nbsp;&nbsp;&nbsp;Shoulder Innovations Inc \* | 2227 | 26100 |
| &nbsp;&nbsp;&nbsp;SI-BONE \* | 17736 | 263025 |
| &nbsp;&nbsp;&nbsp;SIGA Technologies | 19026 | 157535 |
| &nbsp;&nbsp;&nbsp;Sight Sciences \* | 19484 | 98589 |
| &nbsp;&nbsp;&nbsp;Simulations Plus \* | 7853 | 134915 |
| &nbsp;&nbsp;&nbsp;Sionna Therapeutics \* | 5743 | 219440 |
| &nbsp;&nbsp;&nbsp;Soleno Therapeutics \* | 19449 | 1306195 |

---

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

*179*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Solid Biosciences \* | 27532 | $148397 |
| &nbsp;&nbsp;&nbsp;Sonida Senior Living \* | 2581 | 66848 |
| &nbsp;&nbsp;&nbsp;Spyre Therapeutics \* | 23226 | 568108 |
| &nbsp;&nbsp;&nbsp;STAAR Surgical \* | 23253 | 601555 |
| &nbsp;&nbsp;&nbsp;Standard BioTools \* | 138791 | 166549 |
| &nbsp;&nbsp;&nbsp;Stereotaxis \* | 28607 | 83246 |
| &nbsp;&nbsp;&nbsp;Stoke Therapeutics \* | 20890 | 627536 |
| &nbsp;&nbsp;&nbsp;Strata Critical Medical \* | 29878 | 150286 |
| &nbsp;&nbsp;&nbsp;Supernus Pharmaceuticals \* | 25123 | 1385031 |
| &nbsp;&nbsp;&nbsp;Surgery Partners \* | 36021 | 789941 |
| &nbsp;&nbsp;&nbsp;Surmodics \* | 6504 | 178437 |
| &nbsp;&nbsp;&nbsp;Syndax Pharmaceuticals \* | 39695 | 543822 |
| &nbsp;&nbsp;&nbsp;Tactile Systems Technology \* | 10686 | 161038 |
| &nbsp;&nbsp;&nbsp;Talkspace \* | 67330 | 217476 |
| &nbsp;&nbsp;&nbsp;Tandem Diabetes Care \* | 30992 | 433888 |
| &nbsp;&nbsp;&nbsp;Tango Therapeutics \* | 33403 | 270898 |
| &nbsp;&nbsp;&nbsp;Tarsus Pharmaceuticals \* | 18238 | 1254957 |
| &nbsp;&nbsp;&nbsp;Taysha Gene Therapies \* | 98906 | 490574 |
| &nbsp;&nbsp;&nbsp;Tectonic Therapeutic \* | 5162 | 94207 |
| &nbsp;&nbsp;&nbsp;Teladoc Health \* | 81902 | 706814 |
| &nbsp;&nbsp;&nbsp;Terns Pharmaceuticals \* | 33504 | 276743 |
| &nbsp;&nbsp;&nbsp;Tevogen Bio Holdings \* | 13235 | 8317 |
| &nbsp;&nbsp;&nbsp;TG Therapeutics \* | 67642 | 2352589 |
| &nbsp;&nbsp;&nbsp;Theravance Biopharma \* | 17639 | 258588 |
| &nbsp;&nbsp;&nbsp;Tonix Pharmaceuticals Holding \* | 4134 | 76975 |
| &nbsp;&nbsp;&nbsp;TransMedics Group \* | 15479 | 2036108 |
| &nbsp;&nbsp;&nbsp;Travere Therapeutics \* | 41064 | 1443810 |
| &nbsp;&nbsp;&nbsp;Treace Medical Concepts \* | 22110 | 141283 |
| &nbsp;&nbsp;&nbsp;Trevi Therapeutics \* | 40720 | 474795 |
| &nbsp;&nbsp;&nbsp;TriSalus Life Sciences \* | 8716 | 41314 |
| &nbsp;&nbsp;&nbsp;TruBridge \* | 4628 | 88950 |
| &nbsp;&nbsp;&nbsp;Tvardi Therapeutics \* | 2214 | 10295 |
| &nbsp;&nbsp;&nbsp;Twist Bioscience \* | 27546 | 905988 |
| &nbsp;&nbsp;&nbsp;Tyra Biosciences \* | 11158 | 176743 |
| &nbsp;&nbsp;&nbsp;UFP Technologies \* | 3513 | 676744 |
| &nbsp;&nbsp;&nbsp;Upstream Bio \* | 15280 | 394988 |
| &nbsp;&nbsp;&nbsp;UroGen Pharma \* | 17101 | 350057 |
| &nbsp;&nbsp;&nbsp;US Physical Therapy | 7023 | 605874 |
| &nbsp;&nbsp;&nbsp;Utah Medical Products | 1429 | 83025 |

---

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

*180*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Vanda Pharmaceuticals \* | 25833 | $112374 |
| &nbsp;&nbsp;&nbsp;Varex Imaging \* | 19032 | 222484 |
| &nbsp;&nbsp;&nbsp;Vaxcyte \* | 53312 | 2413967 |
| &nbsp;&nbsp;&nbsp;Vera Therapeutics, Cl A \* | 23960 | 681902 |
| &nbsp;&nbsp;&nbsp;Veracyte \* | 36499 | 1316884 |
| &nbsp;&nbsp;&nbsp;Verastem \* | 20933 | 197817 |
| &nbsp;&nbsp;&nbsp;Vericel \* | 23468 | 822788 |
| &nbsp;&nbsp;&nbsp;Viemed Healthcare \* | 16158 | 104381 |
| &nbsp;&nbsp;&nbsp;Vir Biotechnology \* | 41293 | 246106 |
| &nbsp;&nbsp;&nbsp;Viridian Therapeutics \* | 32700 | 772701 |
| &nbsp;&nbsp;&nbsp;Voyager Therapeutics Inc \* | 21598 | 100863 |
| &nbsp;&nbsp;&nbsp;WaVe Life Sciences \* | 51980 | 469899 |
| &nbsp;&nbsp;&nbsp;Waystar Holding \* | 50964 | 1827059 |
| &nbsp;&nbsp;&nbsp;Xencor \* | 32811 | 482650 |
| &nbsp;&nbsp;&nbsp;Xeris Biopharma Holdings \* | 71503 | 693579 |
| &nbsp;&nbsp;&nbsp;XOMA Royalty \* | 4333 | 142902 |
| &nbsp;&nbsp;&nbsp;Zenas Biopharma \* | 7496 | 234250 |
| &nbsp;&nbsp;&nbsp;Zevra Therapeutics \* | 25270 | 257249 |
| &nbsp;&nbsp;&nbsp;Zymeworks \* | 23215 | 443058 |
|  |  | 220594255 |
| Industrials — 18.2% |  |  |
| &nbsp;&nbsp;&nbsp;3D Systems \* | 61546 | 176022 |
| &nbsp;&nbsp;&nbsp;AAR \* | 16638 | 1401086 |
| &nbsp;&nbsp;&nbsp;ABM Industries | 28850 | 1240550 |
| &nbsp;&nbsp;&nbsp;ACCO Brands | 40516 | 152340 |
| &nbsp;&nbsp;&nbsp;Acme United | 1570 | 59676 |
| &nbsp;&nbsp;&nbsp;ACV Auctions, Cl A \* | 78225 | 709501 |
| &nbsp;&nbsp;&nbsp;AeroVironment \* | 14878 | 5503521 |
| &nbsp;&nbsp;&nbsp;AerSale \* | 14900 | 110558 |
| &nbsp;&nbsp;&nbsp;Airjoule Technologies \* | 11158 | 57575 |
| &nbsp;&nbsp;&nbsp;Airo Group Holdings Inc \* | 3260 | 53334 |
| &nbsp;&nbsp;&nbsp;Alamo Group | 4809 | 859464 |
| &nbsp;&nbsp;&nbsp;Albany International, Cl A | 14076 | 796420 |
| &nbsp;&nbsp;&nbsp;Alight, Cl A | 200900 | 578592 |
| &nbsp;&nbsp;&nbsp;Allegiant Travel \* | 6703 | 416793 |
| &nbsp;&nbsp;&nbsp;Allient | 6714 | 367122 |
| &nbsp;&nbsp;&nbsp;Alta Equipment Group | 9578 | 58617 |
| &nbsp;&nbsp;&nbsp;Ameresco, Cl A \* | 14962 | 591298 |

---

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

*181*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;American Superconductor \* | 20360 | $1205923 |
| &nbsp;&nbsp;&nbsp;American Woodmark \* | 6663 | 424633 |
| &nbsp;&nbsp;&nbsp;Amprius Technologies \* | 43238 | 609223 |
| &nbsp;&nbsp;&nbsp;Apogee Enterprises | 9817 | 359400 |
| &nbsp;&nbsp;&nbsp;ArcBest | 10634 | 790319 |
| &nbsp;&nbsp;&nbsp;Archer Aviation, Cl A \* | 256558 | 2878581 |
| &nbsp;&nbsp;&nbsp;Arcosa | 22622 | 2307444 |
| &nbsp;&nbsp;&nbsp;Argan | 6169 | 1889009 |
| &nbsp;&nbsp;&nbsp;Array Technologies \* | 70747 | 612669 |
| &nbsp;&nbsp;&nbsp;Astec Industries | 10665 | 496242 |
| &nbsp;&nbsp;&nbsp;Astronics \* | 14069 | 691913 |
| &nbsp;&nbsp;&nbsp;Asure Software \* | 12013 | 106315 |
| &nbsp;&nbsp;&nbsp;Atkore | 15677 | 1085632 |
| &nbsp;&nbsp;&nbsp;Atmus Filtration Technologies | 38905 | 1769399 |
| &nbsp;&nbsp;&nbsp;AZZ, Inc. | 13835 | 1381425 |
| &nbsp;&nbsp;&nbsp;Barrett Business Services | 11595 | 469250 |
| &nbsp;&nbsp;&nbsp;BlackSky Technology, Cl A \* | 14400 | 304128 |
| &nbsp;&nbsp;&nbsp;Bloom Energy, Cl A \* | 100035 | 13220626 |
| &nbsp;&nbsp;&nbsp;Blue Bird \* | 14767 | 737759 |
| &nbsp;&nbsp;&nbsp;BlueLinx Holdings \* | 3578 | 234144 |
| &nbsp;&nbsp;&nbsp;Boise Cascade | 17587 | 1239708 |
| &nbsp;&nbsp;&nbsp;Bowman Consulting Group, Cl A \* | 6552 | 283636 |
| &nbsp;&nbsp;&nbsp;BrightView Holdings \* | 33324 | 410552 |
| &nbsp;&nbsp;&nbsp;Brink's | 19614 | 2180292 |
| &nbsp;&nbsp;&nbsp;Byrna Technologies \* | 8342 | 168926 |
| &nbsp;&nbsp;&nbsp;Cadre Holdings | 13272 | 563529 |
| &nbsp;&nbsp;&nbsp;Casella Waste Systems, Cl A \* | 29294 | 2594570 |
| &nbsp;&nbsp;&nbsp;CBIZ \* | 23021 | 1266155 |
| &nbsp;&nbsp;&nbsp;CECO Environmental \* | 13595 | 664660 |
| &nbsp;&nbsp;&nbsp;Centuri Holdings \* | 32756 | 661344 |
| &nbsp;&nbsp;&nbsp;Chart Industries \* | 21074 | 4206792 |
| &nbsp;&nbsp;&nbsp;Columbus McKinnon | 13143 | 213311 |
| &nbsp;&nbsp;&nbsp;CompX International | 696 | 15653 |
| &nbsp;&nbsp;&nbsp;Concrete Pumping Holdings | 10289 | 65747 |
| &nbsp;&nbsp;&nbsp;Conduent \* | 69136 | 164544 |
| &nbsp;&nbsp;&nbsp;Construction Partners, Cl A \* | 21872 | 2501063 |
| &nbsp;&nbsp;&nbsp;CoreCivic \* | 50257 | 931262 |
| &nbsp;&nbsp;&nbsp;Covenant Logistics Group, Cl A | 7579 | 152868 |
| &nbsp;&nbsp;&nbsp;CRA International | 3065 | 583852 |

---

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

*182*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;CSG Systems International | 12943 | $1013049 |
| &nbsp;&nbsp;&nbsp;CSW Industrials | 7583 | 1898935 |
| &nbsp;&nbsp;&nbsp;Custom Truck One Source \* | 27925 | 164478 |
| &nbsp;&nbsp;&nbsp;Deluxe | 20517 | 371563 |
| &nbsp;&nbsp;&nbsp;Distribution Solutions Group \* | 4542 | 124178 |
| &nbsp;&nbsp;&nbsp;DNOW \* | 48490 | 712803 |
| &nbsp;&nbsp;&nbsp;Douglas Dynamics | 10561 | 319259 |
| &nbsp;&nbsp;&nbsp;Ducommun \* | 6435 | 590411 |
| &nbsp;&nbsp;&nbsp;DXP Enterprises \* | 6051 | 724002 |
| &nbsp;&nbsp;&nbsp;Dycom Industries \* | 13054 | 3756811 |
| &nbsp;&nbsp;&nbsp;Eastern | 2671 | 57026 |
| &nbsp;&nbsp;&nbsp;Energy Recovery \* | 24709 | 422771 |
| &nbsp;&nbsp;&nbsp;Enerpac Tool Group, Cl A | 25258 | 1036588 |
| &nbsp;&nbsp;&nbsp;EnerSys | 17920 | 2260787 |
| &nbsp;&nbsp;&nbsp;Ennis | 11493 | 188485 |
| &nbsp;&nbsp;&nbsp;Enovix \* | 76725 | 919933 |
| &nbsp;&nbsp;&nbsp;Enpro | 9848 | 2284834 |
| &nbsp;&nbsp;&nbsp;Enviri \* | 35433 | 432637 |
| &nbsp;&nbsp;&nbsp;Eos Energy Enterprises <sup>\*(A)</sup> | 118625 | 1901559 |
| &nbsp;&nbsp;&nbsp;ESCO Technologies | 12119 | 2659757 |
| &nbsp;&nbsp;&nbsp;Eve Holding \* | 23901 | 104208 |
| &nbsp;&nbsp;&nbsp;EVI Industries | 2362 | 63632 |
| &nbsp;&nbsp;&nbsp;Exponent | 23682 | 1676922 |
| &nbsp;&nbsp;&nbsp;Federal Signal | 27987 | 3303306 |
| &nbsp;&nbsp;&nbsp;First Advantage \* | 36900 | 466047 |
| &nbsp;&nbsp;&nbsp;Fluence Energy, Cl A \* | 35375 | 742875 |
| &nbsp;&nbsp;&nbsp;Fluor \* | 76432 | 3727589 |
| &nbsp;&nbsp;&nbsp;flyExclusive \* | 2426 | 9389 |
| &nbsp;&nbsp;&nbsp;Forrester Research \* | 5310 | 37860 |
| &nbsp;&nbsp;&nbsp;Forward Air \* | 9765 | 183680 |
| &nbsp;&nbsp;&nbsp;Franklin Covey \* | 5002 | 84934 |
| &nbsp;&nbsp;&nbsp;Franklin Electric | 18599 | 1762627 |
| &nbsp;&nbsp;&nbsp;Frontier Group Holdings \* | 39061 | 150775 |
| &nbsp;&nbsp;&nbsp;FTAI Infrastructure | 50506 | 269702 |
| &nbsp;&nbsp;&nbsp;GATX | 16730 | 2624101 |
| &nbsp;&nbsp;&nbsp;Genco Shipping & Trading | 15854 | 270152 |
| &nbsp;&nbsp;&nbsp;Gencor Industries \* | 4792 | 65123 |
| &nbsp;&nbsp;&nbsp;GEO Group \* | 63034 | 1069687 |
| &nbsp;&nbsp;&nbsp;Gibraltar Industries \* | 13904 | 867471 |

---

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

*183*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Global Industrial | 6704 | $190528 |
| &nbsp;&nbsp;&nbsp;Gorman-Rupp | 9772 | 439447 |
| &nbsp;&nbsp;&nbsp;Graham \* | 4845 | 301795 |
| &nbsp;&nbsp;&nbsp;Granite Construction | 20404 | 2099776 |
| &nbsp;&nbsp;&nbsp;Great Lakes Dredge & Dock \* | 30848 | 350125 |
| &nbsp;&nbsp;&nbsp;Greenbrier | 14085 | 588330 |
| &nbsp;&nbsp;&nbsp;Griffon | 17881 | 1323373 |
| &nbsp;&nbsp;&nbsp;Healthcare Services Group \* | 33872 | 605293 |
| &nbsp;&nbsp;&nbsp;Heartland Express | 20771 | 162014 |
| &nbsp;&nbsp;&nbsp;Heidrick & Struggles International | 9545 | 557142 |
| &nbsp;&nbsp;&nbsp;Helios Technologies | 15451 | 855367 |
| &nbsp;&nbsp;&nbsp;Herc Holdings | 15227 | 2162995 |
| &nbsp;&nbsp;&nbsp;Hertz Global Holdings <sup>\*(A)</sup> | 54677 | 280493 |
| &nbsp;&nbsp;&nbsp;Hillenbrand | 32904 | 1039766 |
| &nbsp;&nbsp;&nbsp;Hillman Solutions \* | 92288 | 850895 |
| &nbsp;&nbsp;&nbsp;HireQuest | 2686 | 22912 |
| &nbsp;&nbsp;&nbsp;HNI | 21107 | 863698 |
| &nbsp;&nbsp;&nbsp;Hub Group, Cl A | 27838 | 1025274 |
| &nbsp;&nbsp;&nbsp;Hudson Technologies \* | 17844 | 161934 |
| &nbsp;&nbsp;&nbsp;Huron Consulting Group \* | 7946 | 1306640 |
| &nbsp;&nbsp;&nbsp;Hyliion Holdings \* | 57895 | 137211 |
| &nbsp;&nbsp;&nbsp;Hyster-Yale | 5445 | 195693 |
| &nbsp;&nbsp;&nbsp;IBEX Holdings \* | 5040 | 188345 |
| &nbsp;&nbsp;&nbsp;ICF International | 8552 | 686555 |
| &nbsp;&nbsp;&nbsp;IES Holdings \* | 4209 | 1649423 |
| &nbsp;&nbsp;&nbsp;Innodata \* | 14312 | 1067818 |
| &nbsp;&nbsp;&nbsp;Insperity | 16805 | 741437 |
| &nbsp;&nbsp;&nbsp;Insteel Industries | 8664 | 270663 |
| &nbsp;&nbsp;&nbsp;Interface, Cl A | 27001 | 672325 |
| &nbsp;&nbsp;&nbsp;Intuitive Machines \* | 50969 | 608060 |
| &nbsp;&nbsp;&nbsp;Janus International Group \* | 63183 | 606557 |
| &nbsp;&nbsp;&nbsp;JBT Marel | 24352 | 3070787 |
| &nbsp;&nbsp;&nbsp;JELD-WEN Holding \* | 39717 | 172372 |
| &nbsp;&nbsp;&nbsp;JetBlue Airways \* | 153819 | 646040 |
| &nbsp;&nbsp;&nbsp;Joby Aviation \* | 215003 | 3728152 |
| &nbsp;&nbsp;&nbsp;Kadant | 5490 | 1518863 |
| &nbsp;&nbsp;&nbsp;Karat Packaging | 4011 | 96344 |
| &nbsp;&nbsp;&nbsp;Kelly Services, Cl A | 14064 | 157657 |
| &nbsp;&nbsp;&nbsp;Kennametal | 35490 | 779006 |

---

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

*184*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Kforce | 8316 | $210395 |
| &nbsp;&nbsp;&nbsp;Korn Ferry | 24078 | 1557847 |
| &nbsp;&nbsp;&nbsp;Kratos Defense & Security Solutions \* | 77691 | 7038805 |
| &nbsp;&nbsp;&nbsp;KULR Technology Group \* | 16718 | 64030 |
| &nbsp;&nbsp;&nbsp;L B Foster, Cl A \* | 4671 | 127985 |
| &nbsp;&nbsp;&nbsp;Legalzoom.com \* | 55263 | 550972 |
| &nbsp;&nbsp;&nbsp;Limbach Holdings \* | 4948 | 467487 |
| &nbsp;&nbsp;&nbsp;Lindsay | 5085 | 565655 |
| &nbsp;&nbsp;&nbsp;Liquidity Services \* | 10836 | 259414 |
| &nbsp;&nbsp;&nbsp;LSI Industries | 12310 | 281776 |
| &nbsp;&nbsp;&nbsp;Manitowoc \* | 16014 | 162862 |
| &nbsp;&nbsp;&nbsp;Marten Transport | 27064 | 277406 |
| &nbsp;&nbsp;&nbsp;Masterbrand \* | 59189 | 747557 |
| &nbsp;&nbsp;&nbsp;Matrix Service \* | 12350 | 185497 |
| &nbsp;&nbsp;&nbsp;Matson | 15152 | 1529594 |
| &nbsp;&nbsp;&nbsp;Maximus | 26372 | 2192041 |
| &nbsp;&nbsp;&nbsp;Mayville Engineering \* | 6703 | 119447 |
| &nbsp;&nbsp;&nbsp;McGrath RentCorp | 11431 | 1228147 |
| &nbsp;&nbsp;&nbsp;Mercury Systems \* | 24242 | 1876573 |
| &nbsp;&nbsp;&nbsp;Microvast Holdings \* | 92674 | 505073 |
| &nbsp;&nbsp;&nbsp;Miller Industries | 5167 | 207403 |
| &nbsp;&nbsp;&nbsp;MillerKnoll | 31523 | 492389 |
| &nbsp;&nbsp;&nbsp;Mistras Group \* | 7742 | 73859 |
| &nbsp;&nbsp;&nbsp;Mobile Infrastructure, Cl A \* | 6614 | 22620 |
| &nbsp;&nbsp;&nbsp;Modine Manufacturing \* | 24429 | 3742767 |
| &nbsp;&nbsp;&nbsp;Montrose Environmental Group \* | 14856 | 384473 |
| &nbsp;&nbsp;&nbsp;Moog, Cl A | 13101 | 2683740 |
| &nbsp;&nbsp;&nbsp;MRC Global \* | 39177 | 546519 |
| &nbsp;&nbsp;&nbsp;Mueller Water Products, Cl A | 72676 | 1864866 |
| &nbsp;&nbsp;&nbsp;MYR Group \* | 7182 | 1563521 |
| &nbsp;&nbsp;&nbsp;NANO Nuclear Energy <sup>\*(A)</sup> | 14486 | 688664 |
| &nbsp;&nbsp;&nbsp;National Presto Industries | 2418 | 258653 |
| &nbsp;&nbsp;&nbsp;Net Power \* | 15819 | 60429 |
| &nbsp;&nbsp;&nbsp;NEXTracker, Cl A \* | 67989 | 6881847 |
| &nbsp;&nbsp;&nbsp;NL Industries | 4079 | 24678 |
| &nbsp;&nbsp;&nbsp;NPK International \* | 36396 | 447671 |
| &nbsp;&nbsp;&nbsp;NuScale Power \* | 59064 | 2650202 |
| &nbsp;&nbsp;&nbsp;NWPX Infrastructure \* | 4512 | 271442 |
| &nbsp;&nbsp;&nbsp;Omega Flex | 1663 | 45982 |

---

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

*185*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;OPENLANE \* | 49551 | $1309137 |
| &nbsp;&nbsp;&nbsp;Orion Group Holdings \* | 17490 | 188367 |
| &nbsp;&nbsp;&nbsp;Palladyne AI \* | 11203 | 93769 |
| &nbsp;&nbsp;&nbsp;PAMT \* | 2924 | 29445 |
| &nbsp;&nbsp;&nbsp;Pangaea Logistics Solutions | 14074 | 69666 |
| &nbsp;&nbsp;&nbsp;Park Aerospace | 8405 | 161040 |
| &nbsp;&nbsp;&nbsp;Park-Ohio Holdings | 4454 | 91886 |
| &nbsp;&nbsp;&nbsp;Perma-Fix Environmental Services \* | 8024 | 109849 |
| &nbsp;&nbsp;&nbsp;Pitney Bowes | 80401 | 794362 |
| &nbsp;&nbsp;&nbsp;Planet Labs PBC \* | 108769 | 1462943 |
| &nbsp;&nbsp;&nbsp;Plug Power \* | 508647 | 1368260 |
| &nbsp;&nbsp;&nbsp;Powell Industries | 4445 | 1704169 |
| &nbsp;&nbsp;&nbsp;Power Solutions International \* | 3056 | 261655 |
| &nbsp;&nbsp;&nbsp;Preformed Line Products | 1132 | 240109 |
| &nbsp;&nbsp;&nbsp;Primoris Services | 25212 | 3568002 |
| &nbsp;&nbsp;&nbsp;Proficient Auto Logistics \* | 11135 | 83290 |
| &nbsp;&nbsp;&nbsp;Proto Labs \* | 11085 | 551590 |
| &nbsp;&nbsp;&nbsp;Quad | 13636 | 75134 |
| &nbsp;&nbsp;&nbsp;Quanex Building Products | 21367 | 303625 |
| &nbsp;&nbsp;&nbsp;Radiant Logistics \* | 15659 | 94737 |
| &nbsp;&nbsp;&nbsp;RCM Technologies \* | 2292 | 52945 |
| &nbsp;&nbsp;&nbsp;Redwire <sup>\*(A)</sup> | 23113 | 181899 |
| &nbsp;&nbsp;&nbsp;Resideo Technologies \* | 64286 | 2751441 |
| &nbsp;&nbsp;&nbsp;Resolute Holdings Management <sup>\*(A)</sup> | 1987 | 146362 |
| &nbsp;&nbsp;&nbsp;Resources Connection | 15086 | 66378 |
| &nbsp;&nbsp;&nbsp;REV Group | 22604 | 1158907 |
| &nbsp;&nbsp;&nbsp;Richtech Robotics, Cl B \* | 32198 | 155194 |
| &nbsp;&nbsp;&nbsp;Rush Enterprises, Cl A | 28482 | 1407296 |
| &nbsp;&nbsp;&nbsp;Rush Enterprises, Cl B | 4016 | 210720 |
| &nbsp;&nbsp;&nbsp;RXO \* | 75749 | 1343030 |
| &nbsp;&nbsp;&nbsp;Satellogic, Cl A \* | 31960 | 61044 |
| &nbsp;&nbsp;&nbsp;Shoals Technologies Group, Cl A \* | 78312 | 823059 |
| &nbsp;&nbsp;&nbsp;Skillsoft \* | 2182 | 28650 |
| &nbsp;&nbsp;&nbsp;Sky Harbour Group, Cl A <sup>\*(A)</sup> | 10049 | 99284 |
| &nbsp;&nbsp;&nbsp;SkyWest \* | 18861 | 1895153 |
| &nbsp;&nbsp;&nbsp;SKYX Platforms \* | 28340 | 49878 |
| &nbsp;&nbsp;&nbsp;Southland Holdings \* | 5662 | 25309 |
| &nbsp;&nbsp;&nbsp;Spire Global \* | 12722 | 138415 |
| &nbsp;&nbsp;&nbsp;SPX Technologies \* | 22467 | 5030137 |

---

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

*186*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Standex International | 5601 | $1306321 |
| &nbsp;&nbsp;&nbsp;Steelcase, Cl A | 39056 | 623334 |
| &nbsp;&nbsp;&nbsp;Sterling Infrastructure \* | 13902 | 5253566 |
| &nbsp;&nbsp;&nbsp;Sun Country Airlines Holdings \* | 23721 | 291294 |
| &nbsp;&nbsp;&nbsp;Sunpower <sup>\*(A)</sup> | 28012 | 50422 |
| &nbsp;&nbsp;&nbsp;Sunrun \* | 97634 | 2026882 |
| &nbsp;&nbsp;&nbsp;Tecnoglass | 11333 | 675787 |
| &nbsp;&nbsp;&nbsp;Tennant | 8749 | 699920 |
| &nbsp;&nbsp;&nbsp;Terex | 30053 | 1383039 |
| &nbsp;&nbsp;&nbsp;Thermon Group Holdings \* | 15243 | 437931 |
| &nbsp;&nbsp;&nbsp;TIC Solutions \* | 79388 | 962976 |
| &nbsp;&nbsp;&nbsp;Titan International \* | 22546 | 170222 |
| &nbsp;&nbsp;&nbsp;Titan Machinery \* | 9667 | 158539 |
| &nbsp;&nbsp;&nbsp;Transcat \* | 4253 | 308980 |
| &nbsp;&nbsp;&nbsp;TriNet Group | 13940 | 836400 |
| &nbsp;&nbsp;&nbsp;Trinity Industries | 38152 | 1044220 |
| &nbsp;&nbsp;&nbsp;TrueBlue \* | 13486 | 63924 |
| &nbsp;&nbsp;&nbsp;TTEC Holdings \* | 9498 | 33148 |
| &nbsp;&nbsp;&nbsp;Tutor Perini \* | 20748 | 1397585 |
| &nbsp;&nbsp;&nbsp;UFP Industries | 28139 | 2592446 |
| &nbsp;&nbsp;&nbsp;UniFirst | 7027 | 1084617 |
| &nbsp;&nbsp;&nbsp;Universal Logistics Holdings | 3154 | 51032 |
| &nbsp;&nbsp;&nbsp;Upwork \* | 57314 | 913585 |
| &nbsp;&nbsp;&nbsp;V2X \* | 9028 | 515409 |
| &nbsp;&nbsp;&nbsp;Verra Mobility, Cl A \* | 74424 | 1727381 |
| &nbsp;&nbsp;&nbsp;Vestis | 53503 | 280891 |
| &nbsp;&nbsp;&nbsp;Vicor \* | 10885 | 987596 |
| &nbsp;&nbsp;&nbsp;Virco Mfg. | 5000 | 36600 |
| &nbsp;&nbsp;&nbsp;Voyager Technologies Inc, Cl A <sup>\*(A)</sup> | 6416 | 196201 |
| &nbsp;&nbsp;&nbsp;VSE | 10534 | 1903283 |
| &nbsp;&nbsp;&nbsp;Wabash National | 19087 | 153078 |
| &nbsp;&nbsp;&nbsp;Watts Water Technologies, Cl A | 12795 | 3487917 |
| &nbsp;&nbsp;&nbsp;Werner Enterprises | 27003 | 707479 |
| &nbsp;&nbsp;&nbsp;Willdan Group \* | 6478 | 612236 |
| &nbsp;&nbsp;&nbsp;Willis Lease Finance | 1327 | 170360 |
| &nbsp;&nbsp;&nbsp;Worthington Enterprises | 14662 | 822392 |
| &nbsp;&nbsp;&nbsp;Xometry, Cl A \* | 20259 | 986411 |
| &nbsp;&nbsp;&nbsp;Zurn Elkay Water Solutions | 70055 | 3300291 |
|  |  | 244376137 |

---

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

*187*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — 14.9% |  |  |
| &nbsp;&nbsp;&nbsp;8x8 \* | 61453 | $113073 |
| &nbsp;&nbsp;&nbsp;908 Devices \* | 12763 | 101849 |
| &nbsp;&nbsp;&nbsp;A10 Networks | 33494 | 597533 |
| &nbsp;&nbsp;&nbsp;ACI Worldwide \* | 49139 | 2340491 |
| &nbsp;&nbsp;&nbsp;ACM Research, Cl A \* | 23539 | 975927 |
| &nbsp;&nbsp;&nbsp;Adeia | 50655 | 863161 |
| &nbsp;&nbsp;&nbsp;ADTRAN Holdings \* | 34636 | 360907 |
| &nbsp;&nbsp;&nbsp;Advanced Energy Industries | 17573 | 3562574 |
| &nbsp;&nbsp;&nbsp;Aehr Test Systems \* | 13274 | 344991 |
| &nbsp;&nbsp;&nbsp;Aeluma \* | 4519 | 73705 |
| &nbsp;&nbsp;&nbsp;Aeva Technologies \* | 14179 | 231685 |
| &nbsp;&nbsp;&nbsp;Agilysys \* | 12065 | 1513675 |
| &nbsp;&nbsp;&nbsp;Airship AI Holdings \* | 9321 | 44275 |
| &nbsp;&nbsp;&nbsp;Alarm.com Holdings \* | 22186 | 1091995 |
| &nbsp;&nbsp;&nbsp;Alkami Technology \* | 31784 | 644897 |
| &nbsp;&nbsp;&nbsp;Alpha & Omega Semiconductor \* | 11606 | 325664 |
| &nbsp;&nbsp;&nbsp;Ambarella \* | 18979 | 1617580 |
| &nbsp;&nbsp;&nbsp;Amiq Micro Inc \* | 2180 | 66621 |
| &nbsp;&nbsp;&nbsp;Amplitude, Cl A \* | 41417 | 416241 |
| &nbsp;&nbsp;&nbsp;Appian, Cl A \* | 18353 | 549305 |
| &nbsp;&nbsp;&nbsp;Applied Digital \* | 99815 | 3459588 |
| &nbsp;&nbsp;&nbsp;Applied Optoelectronics \* | 25261 | 898281 |
| &nbsp;&nbsp;&nbsp;Arlo Technologies \* | 46314 | 895713 |
| &nbsp;&nbsp;&nbsp;Arrive AI Inc \* | 1721 | 8622 |
| &nbsp;&nbsp;&nbsp;Arteris \* | 13260 | 180469 |
| &nbsp;&nbsp;&nbsp;Asana, Cl A \* | 40336 | 566721 |
| &nbsp;&nbsp;&nbsp;ASGN \* | 19932 | 892156 |
| &nbsp;&nbsp;&nbsp;Atomera <sup>\*(A)</sup> | 13541 | 42790 |
| &nbsp;&nbsp;&nbsp;AudioEye \* | 3746 | 57576 |
| &nbsp;&nbsp;&nbsp;AvePoint \* | 61922 | 871243 |
| &nbsp;&nbsp;&nbsp;Aviat Networks \* | 5457 | 136207 |
| &nbsp;&nbsp;&nbsp;Axcelis Technologies \* | 15019 | 1194912 |
| &nbsp;&nbsp;&nbsp;Backblaze, Cl A \* | 24942 | 257152 |
| &nbsp;&nbsp;&nbsp;Badger Meter | 13827 | 2495082 |
| &nbsp;&nbsp;&nbsp;Bel Fuse, Cl A | 757 | 103505 |
| &nbsp;&nbsp;&nbsp;Bel Fuse, Cl B | 4822 | 742540 |
| &nbsp;&nbsp;&nbsp;Belden | 18451 | 2248254 |
| &nbsp;&nbsp;&nbsp;Benchmark Electronics | 16651 | 729647 |
| &nbsp;&nbsp;&nbsp;BigBear.ai Holdings \* | 134776 | 932650 |

---

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

*188*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;Bit Digital \* | &nbsp;&nbsp;&nbsp;148172 | $&nbsp;&nbsp;&nbsp;542309 |
| &nbsp;&nbsp;&nbsp;Bitdeer Technologies Group, Cl A \* | &nbsp;&nbsp;&nbsp;41809 | &nbsp;&nbsp;&nbsp;928160 |
| &nbsp;&nbsp;&nbsp;BK Technologies \* | &nbsp;&nbsp;&nbsp;1402 | &nbsp;&nbsp;&nbsp;104743 |
| &nbsp;&nbsp;&nbsp;Blackbaud \* | &nbsp;&nbsp;&nbsp;17842 | &nbsp;&nbsp;&nbsp;1142602 |
| &nbsp;&nbsp;&nbsp;BlackLine \* | &nbsp;&nbsp;&nbsp;24252 | &nbsp;&nbsp;&nbsp;1388427 |
| &nbsp;&nbsp;&nbsp;Blaize Holdings, Cl A \* | &nbsp;&nbsp;&nbsp;34205 | &nbsp;&nbsp;&nbsp;133742 |
| &nbsp;&nbsp;&nbsp;Blend Labs, Cl A \* | &nbsp;&nbsp;&nbsp;97287 | &nbsp;&nbsp;&nbsp;322020 |
| &nbsp;&nbsp;&nbsp;Box, Cl A \* | &nbsp;&nbsp;&nbsp;65463 | &nbsp;&nbsp;&nbsp;2100708 |
| &nbsp;&nbsp;&nbsp;Braze, Cl A \* | &nbsp;&nbsp;&nbsp;37155 | &nbsp;&nbsp;&nbsp;1064862 |
| &nbsp;&nbsp;&nbsp;C3.ai, Cl A <sup>\*(A)</sup> | &nbsp;&nbsp;&nbsp;57114 | &nbsp;&nbsp;&nbsp;1004064 |
| &nbsp;&nbsp;&nbsp;Calix \* | &nbsp;&nbsp;&nbsp;27477 | &nbsp;&nbsp;&nbsp;1879976 |
| &nbsp;&nbsp;&nbsp;Cerence \* | &nbsp;&nbsp;&nbsp;18865 | &nbsp;&nbsp;&nbsp;202421 |
| &nbsp;&nbsp;&nbsp;CEVA \* | &nbsp;&nbsp;&nbsp;10852 | &nbsp;&nbsp;&nbsp;295283 |
| &nbsp;&nbsp;&nbsp;Cipher Mining \* | &nbsp;&nbsp;&nbsp;123490 | &nbsp;&nbsp;&nbsp;2303088 |
| &nbsp;&nbsp;&nbsp;Cleanspark \* | &nbsp;&nbsp;&nbsp;129275 | &nbsp;&nbsp;&nbsp;2301095 |
| &nbsp;&nbsp;&nbsp;Clear Secure, Cl A | &nbsp;&nbsp;&nbsp;38985 | &nbsp;&nbsp;&nbsp;1187873 |
| &nbsp;&nbsp;&nbsp;Clearfield \* | &nbsp;&nbsp;&nbsp;5373 | &nbsp;&nbsp;&nbsp;189667 |
| &nbsp;&nbsp;&nbsp;Clearwater Analytics Holdings, Cl A \* | &nbsp;&nbsp;&nbsp;114956 | &nbsp;&nbsp;&nbsp;2116340 |
| &nbsp;&nbsp;&nbsp;Climb Global Solutions | &nbsp;&nbsp;&nbsp;1798 | &nbsp;&nbsp;&nbsp;199722 |
| &nbsp;&nbsp;&nbsp;Cohu \* | &nbsp;&nbsp;&nbsp;21299 | &nbsp;&nbsp;&nbsp;506703 |
| &nbsp;&nbsp;&nbsp;Commerce.Com \* | &nbsp;&nbsp;&nbsp;30482 | &nbsp;&nbsp;&nbsp;141132 |
| &nbsp;&nbsp;&nbsp;CommScope Holding \* | &nbsp;&nbsp;&nbsp;99406 | &nbsp;&nbsp;&nbsp;1719724 |
| &nbsp;&nbsp;&nbsp;CommVault Systems \* | &nbsp;&nbsp;&nbsp;20834 | &nbsp;&nbsp;&nbsp;2900509 |
| &nbsp;&nbsp;&nbsp;CompoSecure, Cl A \* | &nbsp;&nbsp;&nbsp;20476 | &nbsp;&nbsp;&nbsp;406653 |
| &nbsp;&nbsp;&nbsp;Consensus Cloud Solutions \* | &nbsp;&nbsp;&nbsp;9053 | &nbsp;&nbsp;&nbsp;265434 |
| &nbsp;&nbsp;&nbsp;Core Scientific \* | &nbsp;&nbsp;&nbsp;132454 | &nbsp;&nbsp;&nbsp;2853059 |
| &nbsp;&nbsp;&nbsp;Corsair Gaming \* | &nbsp;&nbsp;&nbsp;21644 | &nbsp;&nbsp;&nbsp;176399 |
| &nbsp;&nbsp;&nbsp;CPI Card Group \* | &nbsp;&nbsp;&nbsp;2738 | &nbsp;&nbsp;&nbsp;42822 |
| &nbsp;&nbsp;&nbsp;Credo Technology Group Holding \* | &nbsp;&nbsp;&nbsp;69022 | &nbsp;&nbsp;&nbsp;12949908 |
| &nbsp;&nbsp;&nbsp;Crexendo \* | &nbsp;&nbsp;&nbsp;6663 | &nbsp;&nbsp;&nbsp;43110 |
| &nbsp;&nbsp;&nbsp;CS Disco \* | &nbsp;&nbsp;&nbsp;11250 | &nbsp;&nbsp;&nbsp;71100 |
| &nbsp;&nbsp;&nbsp;CSP | &nbsp;&nbsp;&nbsp;3292 | &nbsp;&nbsp;&nbsp;43915 |
| &nbsp;&nbsp;&nbsp;CTS | &nbsp;&nbsp;&nbsp;13612 | &nbsp;&nbsp;&nbsp;565034 |
| &nbsp;&nbsp;&nbsp;Daily Journal \* | &nbsp;&nbsp;&nbsp;581 | &nbsp;&nbsp;&nbsp;235328 |
| &nbsp;&nbsp;&nbsp;Daktronics \* | &nbsp;&nbsp;&nbsp;17890 | &nbsp;&nbsp;&nbsp;336153 |
| &nbsp;&nbsp;&nbsp;Diebold Nixdorf \* | &nbsp;&nbsp;&nbsp;11841 | &nbsp;&nbsp;&nbsp;700395 |
| &nbsp;&nbsp;&nbsp;Digi International \* | &nbsp;&nbsp;&nbsp;16941 | &nbsp;&nbsp;&nbsp;621396 |
| &nbsp;&nbsp;&nbsp;Digimarc <sup>\*(A)</sup> | &nbsp;&nbsp;&nbsp;7243 | &nbsp;&nbsp;&nbsp;70474 |
| &nbsp;&nbsp;&nbsp;Digital Turbine \* | &nbsp;&nbsp;&nbsp;48537 | &nbsp;&nbsp;&nbsp;302871 |

---

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

*189*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;DigitalOcean Holdings \* | 31862 | $1295509 |
| &nbsp;&nbsp;&nbsp;Diodes \* | 21373 | 1140463 |
| &nbsp;&nbsp;&nbsp;Domo, Cl B \* | 14979 | 205212 |
| &nbsp;&nbsp;&nbsp;Eastman Kodak \* | 29474 | 186865 |
| &nbsp;&nbsp;&nbsp;eGain \* | 8298 | 119657 |
| &nbsp;&nbsp;&nbsp;ePlus | 12294 | 899429 |
| &nbsp;&nbsp;&nbsp;EverCommerce \* | 6930 | 80319 |
| &nbsp;&nbsp;&nbsp;Evolv Technologies Holdings \* | 53859 | 416869 |
| &nbsp;&nbsp;&nbsp;Expensify, Cl A \* | 27773 | 45270 |
| &nbsp;&nbsp;&nbsp;Extreme Networks \* | 61481 | 1169369 |
| &nbsp;&nbsp;&nbsp;Fastly, Cl A \* | 63818 | 529051 |
| &nbsp;&nbsp;&nbsp;Five9 \* | 35606 | 864514 |
| &nbsp;&nbsp;&nbsp;FormFactor \* | 36293 | 1994300 |
| &nbsp;&nbsp;&nbsp;Frequency Electronics \* | 3106 | 114052 |
| &nbsp;&nbsp;&nbsp;Freshworks, Cl A \* | 93593 | 1038882 |
| &nbsp;&nbsp;&nbsp;Grid Dynamics Holdings \* | 30598 | 285785 |
| &nbsp;&nbsp;&nbsp;Hackett Group | 11639 | 210782 |
| &nbsp;&nbsp;&nbsp;Harmonic \* | 52400 | 560680 |
| &nbsp;&nbsp;&nbsp;I3 Verticals, Cl A \* | 10752 | 330624 |
| &nbsp;&nbsp;&nbsp;Ichor Holdings \* | 15764 | 357527 |
| &nbsp;&nbsp;&nbsp;Immersion | 13097 | 87619 |
| &nbsp;&nbsp;&nbsp;Impinj \* | 12100 | 2446136 |
| &nbsp;&nbsp;&nbsp;Information Services Group | 16415 | 90447 |
| &nbsp;&nbsp;&nbsp;Inseego \* | 5782 | 96212 |
| &nbsp;&nbsp;&nbsp;Insight Enterprises \* | 13477 | 1347700 |
| &nbsp;&nbsp;&nbsp;Intapp \* | 26341 | 1010968 |
| &nbsp;&nbsp;&nbsp;InterDigital | 12077 | 4371391 |
| &nbsp;&nbsp;&nbsp;IonQ \* | 128837 | 8036852 |
| &nbsp;&nbsp;&nbsp;Itron \* | 21164 | 2123384 |
| &nbsp;&nbsp;&nbsp;Jamf Holding \* | 33456 | 429910 |
| &nbsp;&nbsp;&nbsp;Kaltura \* | 42148 | 65329 |
| &nbsp;&nbsp;&nbsp;Kimball Electronics \* | 11287 | 328170 |
| &nbsp;&nbsp;&nbsp;Knowles \* | 39809 | 939890 |
| &nbsp;&nbsp;&nbsp;Kopin \* | 74333 | 257192 |
| &nbsp;&nbsp;&nbsp;Life360 \* | 7483 | 738647 |
| &nbsp;&nbsp;&nbsp;LiveRamp Holdings \* | 30121 | 823508 |
| &nbsp;&nbsp;&nbsp;MARA Holdings \* | 173170 | 3163816 |
| &nbsp;&nbsp;&nbsp;MaxLinear, Cl A \* | 38012 | 575882 |
| &nbsp;&nbsp;&nbsp;Methode Electronics | 15488 | 104234 |

---

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

*190*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;MicroVision <sup>\*(A)</sup> | 115662 | $135325 |
| &nbsp;&nbsp;&nbsp;Mirion Technologies, Cl A \* | 109483 | 3215516 |
| &nbsp;&nbsp;&nbsp;Mitek Systems \* | 20641 | 190104 |
| &nbsp;&nbsp;&nbsp;M-Tron Industries \* | 1146 | 63167 |
| &nbsp;&nbsp;&nbsp;N-able \* | 33437 | 261812 |
| &nbsp;&nbsp;&nbsp;Napco Security Technologies | 16092 | 710462 |
| &nbsp;&nbsp;&nbsp;Navitas Semiconductor, Cl A \* | 62387 | 839729 |
| &nbsp;&nbsp;&nbsp;NCR Voyix \* | 64811 | 739493 |
| &nbsp;&nbsp;&nbsp;Neonode \* | 4784 | 14543 |
| &nbsp;&nbsp;&nbsp;NETGEAR \* | 12870 | 446846 |
| &nbsp;&nbsp;&nbsp;NetScout Systems \* | 32573 | 905529 |
| &nbsp;&nbsp;&nbsp;NextNav \* | 40862 | 545508 |
| &nbsp;&nbsp;&nbsp;nLight \* | 22353 | 737873 |
| &nbsp;&nbsp;&nbsp;Novanta \* | 16818 | 2136054 |
| &nbsp;&nbsp;&nbsp;NVE | 2247 | 155155 |
| &nbsp;&nbsp;&nbsp;ON24 \* | 17640 | 97373 |
| &nbsp;&nbsp;&nbsp;OneSpan | 16728 | 190699 |
| &nbsp;&nbsp;&nbsp;Ooma \* | 11827 | 132817 |
| &nbsp;&nbsp;&nbsp;OSI Systems \* | 7465 | 2078704 |
| &nbsp;&nbsp;&nbsp;Ouster \* | 23610 | 787630 |
| &nbsp;&nbsp;&nbsp;Pagaya Technologies, Cl A \* | 21423 | 576064 |
| &nbsp;&nbsp;&nbsp;PagerDuty \* | 39784 | 638931 |
| &nbsp;&nbsp;&nbsp;PAR Technology \* | 18667 | 659692 |
| &nbsp;&nbsp;&nbsp;PC Connection | 5145 | 313691 |
| &nbsp;&nbsp;&nbsp;PDF Solutions \* | 14806 | 431299 |
| &nbsp;&nbsp;&nbsp;Penguin Solutions \* | 24242 | 539869 |
| &nbsp;&nbsp;&nbsp;Photronics \* | 27110 | 647929 |
| &nbsp;&nbsp;&nbsp;Plexus \* | 12522 | 1751828 |
| &nbsp;&nbsp;&nbsp;Porch Group \* | 37420 | 563171 |
| &nbsp;&nbsp;&nbsp;Power Integrations | 26419 | 1106692 |
| &nbsp;&nbsp;&nbsp;Powerfleet NJ \* | 57635 | 293938 |
| &nbsp;&nbsp;&nbsp;Progress Software \* | 19947 | 850540 |
| &nbsp;&nbsp;&nbsp;PROS Holdings \* | 20384 | 469851 |
| &nbsp;&nbsp;&nbsp;Q2 Holdings \* | 28993 | 1790608 |
| &nbsp;&nbsp;&nbsp;Qualys \* | 17023 | 2098255 |
| &nbsp;&nbsp;&nbsp;Quantum Computing <sup>\*(A)</sup> | 62533 | 1044926 |
| &nbsp;&nbsp;&nbsp;Rackspace Technology \* | 38776 | 62042 |
| &nbsp;&nbsp;&nbsp;Rambus \* | 50277 | 5170487 |
| &nbsp;&nbsp;&nbsp;Rapid7 \* | 29754 | 550747 |

---

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

*191*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;Red Cat Holdings \* | 39785 | $447581 |
| &nbsp;&nbsp;&nbsp;Red Violet | 5264 | 282308 |
| &nbsp;&nbsp;&nbsp;ReposiTrak | 5294 | 79463 |
| &nbsp;&nbsp;&nbsp;Rezolve AI PLC \* | 67975 | 291613 |
| &nbsp;&nbsp;&nbsp;Ribbon Communications \* | 43449 | 145989 |
| &nbsp;&nbsp;&nbsp;Richardson Electronics | 5610 | 60476 |
| &nbsp;&nbsp;&nbsp;Rigetti Computing \* | 148837 | 6589014 |
| &nbsp;&nbsp;&nbsp;Rimini Street \* | 22307 | 88782 |
| &nbsp;&nbsp;&nbsp;Riot Platforms \* | 162452 | 3213301 |
| &nbsp;&nbsp;&nbsp;Rogers \* | 8655 | 757659 |
| &nbsp;&nbsp;&nbsp;Sanmina \* | 24360 | 3338538 |
| &nbsp;&nbsp;&nbsp;ScanSource \* | 9733 | 417594 |
| &nbsp;&nbsp;&nbsp;SEMrush Holdings, Cl A \* | 23911 | 173594 |
| &nbsp;&nbsp;&nbsp;Semtech \* | 40619 | 2756405 |
| &nbsp;&nbsp;&nbsp;Silicon Laboratories \* | 15036 | 1970919 |
| &nbsp;&nbsp;&nbsp;Silvaco Group \* | 3501 | 20621 |
| &nbsp;&nbsp;&nbsp;SiTime \* | 9932 | 2876704 |
| &nbsp;&nbsp;&nbsp;SkyWater Technology \* | 12239 | 213999 |
| &nbsp;&nbsp;&nbsp;SoundHound AI, Cl A <sup>\*(A)</sup> | 170646 | 3006782 |
| &nbsp;&nbsp;&nbsp;SoundThinking \* | 4483 | 41916 |
| &nbsp;&nbsp;&nbsp;Sprinklr, Cl A \* | 52187 | 402884 |
| &nbsp;&nbsp;&nbsp;Sprout Social, Cl A \* | 23965 | 246121 |
| &nbsp;&nbsp;&nbsp;SPS Commerce \* | 17753 | 1460007 |
| &nbsp;&nbsp;&nbsp;Synaptics \* | 17880 | 1268407 |
| &nbsp;&nbsp;&nbsp;Synchronoss Technologies \* | 4965 | 26041 |
| &nbsp;&nbsp;&nbsp;Telos \* | 25074 | 172008 |
| &nbsp;&nbsp;&nbsp;Tenable Holdings \* | 56589 | 1642213 |
| &nbsp;&nbsp;&nbsp;TSS \* | 8562 | 173466 |
| &nbsp;&nbsp;&nbsp;TTM Technologies \* | 46923 | 3153226 |
| &nbsp;&nbsp;&nbsp;Tucows, Cl A \* | 3191 | 61140 |
| &nbsp;&nbsp;&nbsp;Turtle Beach \* | 7063 | 119365 |
| &nbsp;&nbsp;&nbsp;Ultra Clean Holdings \* | 20805 | 570265 |
| &nbsp;&nbsp;&nbsp;Unisys \* | 30933 | 110431 |
| &nbsp;&nbsp;&nbsp;Varonis Systems, Cl B \* | 51430 | 1811879 |
| &nbsp;&nbsp;&nbsp;Veeco Instruments \* | 26645 | 766044 |
| &nbsp;&nbsp;&nbsp;Verint Systems \* | 28050 | 568854 |
| &nbsp;&nbsp;&nbsp;Vertex, Cl A \* | 30305 | 693984 |
| &nbsp;&nbsp;&nbsp;Viant Technology, Cl A \* | 6308 | 56015 |
| &nbsp;&nbsp;&nbsp;Viasat \* | 54918 | 2186835 |

---

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

*192*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;Viavi Solutions \* | 103150 | $1825755 |
| &nbsp;&nbsp;&nbsp;Vishay Intertechnology | 56444 | 958419 |
| &nbsp;&nbsp;&nbsp;Vishay Precision Group \* | 5552 | 207978 |
| &nbsp;&nbsp;&nbsp;Vuzix \* | 30286 | 101458 |
| &nbsp;&nbsp;&nbsp;Weave Communications \* | 27053 | 200463 |
| &nbsp;&nbsp;&nbsp;WM Technology \* | 41574 | 43653 |
| &nbsp;&nbsp;&nbsp;Workiva, Cl A \* | 23421 | 1991019 |
| &nbsp;&nbsp;&nbsp;Xerox Holdings | 54620 | 181338 |
| &nbsp;&nbsp;&nbsp;Xperi \* | 20707 | 139151 |
| &nbsp;&nbsp;&nbsp;Yext \* | 47033 | 398369 |
| &nbsp;&nbsp;&nbsp;Zeta Global Holdings, Cl A \* | 86788 | 1561316 |
|  |  | 199607185 |
| Materials — 3.7% |  |  |
| &nbsp;&nbsp;&nbsp;AdvanSix | 12181 | 226445 |
| &nbsp;&nbsp;&nbsp;Alpha Metallurgical Resources \* | 5454 | 944960 |
| &nbsp;&nbsp;&nbsp;American Battery Technology \* | 41409 | 212428 |
| &nbsp;&nbsp;&nbsp;American Vanguard \* | 11937 | 53358 |
| &nbsp;&nbsp;&nbsp;Ardagh Metal Packaging | 64684 | 230922 |
| &nbsp;&nbsp;&nbsp;Arq \* | 14905 | 98969 |
| &nbsp;&nbsp;&nbsp;Ascent Industries \* | 3498 | 42536 |
| &nbsp;&nbsp;&nbsp;ASP Isotopes \* | 35510 | 359716 |
| &nbsp;&nbsp;&nbsp;Aspen Aerogels \* | 30740 | 250224 |
| &nbsp;&nbsp;&nbsp;Avient | 42835 | 1373718 |
| &nbsp;&nbsp;&nbsp;Balchem | 15298 | 2346560 |
| &nbsp;&nbsp;&nbsp;Cabot | 25267 | 1705017 |
| &nbsp;&nbsp;&nbsp;Century Aluminum \* | 24611 | 728978 |
| &nbsp;&nbsp;&nbsp;Chemours | 70188 | 939817 |
| &nbsp;&nbsp;&nbsp;Clearwater Paper \* | 7324 | 129269 |
| &nbsp;&nbsp;&nbsp;Coeur Mining \* | 298391 | 5123373 |
| &nbsp;&nbsp;&nbsp;Commercial Metals | 52841 | 3136642 |
| &nbsp;&nbsp;&nbsp;Compass Minerals International \* | 16125 | 279608 |
| &nbsp;&nbsp;&nbsp;Constellium, Cl A \* | 66306 | 1042993 |
| &nbsp;&nbsp;&nbsp;Contango ORE \* | 4022 | 86312 |
| &nbsp;&nbsp;&nbsp;Core Molding Technologies \* | 3991 | 71479 |
| &nbsp;&nbsp;&nbsp;Dakota Gold \* | 40091 | 163571 |
| &nbsp;&nbsp;&nbsp;Ecovyst \* | 54320 | 444881 |
| &nbsp;&nbsp;&nbsp;Ferroglobe PLC | 55391 | 268646 |
| &nbsp;&nbsp;&nbsp;Flotek Industries \* | 6709 | 116133 |

---

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

*193*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Materials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Friedman Industries | 3141 | $66715 |
| &nbsp;&nbsp;&nbsp;Greif, Cl A | 11814 | 672098 |
| &nbsp;&nbsp;&nbsp;Greif, Cl B | 2158 | 127214 |
| &nbsp;&nbsp;&nbsp;Hawkins | 9105 | 1291544 |
| &nbsp;&nbsp;&nbsp;HB Fuller | 25476 | 1461558 |
| &nbsp;&nbsp;&nbsp;Hecla Mining | 279600 | 3598452 |
| &nbsp;&nbsp;&nbsp;Idaho Strategic Resources \* | 6006 | 198558 |
| &nbsp;&nbsp;&nbsp;Ingevity \* | 16985 | 912434 |
| &nbsp;&nbsp;&nbsp;Innospec | 11694 | 860445 |
| &nbsp;&nbsp;&nbsp;Intrepid Potash \* | 5055 | 134615 |
| &nbsp;&nbsp;&nbsp;Ivanhoe Electric \* | 39968 | 591127 |
| &nbsp;&nbsp;&nbsp;Kaiser Aluminum | 7485 | 677617 |
| &nbsp;&nbsp;&nbsp;Knife River \* | 26645 | 1610957 |
| &nbsp;&nbsp;&nbsp;Koppers Holdings | 9012 | 254319 |
| &nbsp;&nbsp;&nbsp;Kronos Worldwide | 10115 | 49766 |
| &nbsp;&nbsp;&nbsp;LSB Industries \* | 24968 | 210480 |
| &nbsp;&nbsp;&nbsp;Magnera \* | 15433 | 140286 |
| &nbsp;&nbsp;&nbsp;Materion | 9642 | 1105262 |
| &nbsp;&nbsp;&nbsp;Mativ Holdings | 25056 | 267598 |
| &nbsp;&nbsp;&nbsp;Metallus \* | 17017 | 299329 |
| &nbsp;&nbsp;&nbsp;Minerals Technologies | 14721 | 835417 |
| &nbsp;&nbsp;&nbsp;Myers Industries | 17208 | 298215 |
| &nbsp;&nbsp;&nbsp;NioCorp Developments \* | 32424 | 238965 |
| &nbsp;&nbsp;&nbsp;O-I Glass, Cl I \* | 71624 | 808635 |
| &nbsp;&nbsp;&nbsp;Olympic Steel | 4587 | 169719 |
| &nbsp;&nbsp;&nbsp;Perimeter Solutions \* | 64845 | 1524506 |
| &nbsp;&nbsp;&nbsp;Perpetua Resources \* | 35003 | 841122 |
| &nbsp;&nbsp;&nbsp;PureCycle Technologies <sup>\*(A)</sup> | 60507 | 700671 |
| &nbsp;&nbsp;&nbsp;Quaker Chemical | 6518 | 905285 |
| &nbsp;&nbsp;&nbsp;Ramaco Resources, Cl A \* | 13496 | 409739 |
| &nbsp;&nbsp;&nbsp;Ranpak Holdings, Cl A \* | 21776 | 115413 |
| &nbsp;&nbsp;&nbsp;Rayonier Advanced Materials \* | 29870 | 207597 |
| &nbsp;&nbsp;&nbsp;Ryerson Holding | 12567 | 277228 |
| &nbsp;&nbsp;&nbsp;Sensient Technologies | 19694 | 1856947 |
| &nbsp;&nbsp;&nbsp;Smith-Midland \* | 1220 | 44481 |
| &nbsp;&nbsp;&nbsp;Solesence \* | 8855 | 28956 |
| &nbsp;&nbsp;&nbsp;Stepan | 9995 | 433283 |
| &nbsp;&nbsp;&nbsp;SunCoke Energy | 39406 | 315642 |
| &nbsp;&nbsp;&nbsp;Sylvamo | 16032 | 650899 |

---

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

*194*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Materials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Tredegar \* | 12179 | $84157 |
| &nbsp;&nbsp;&nbsp;TriMas | 15431 | 548263 |
| &nbsp;&nbsp;&nbsp;Trinseo PLC | 15891 | 23201 |
| &nbsp;&nbsp;&nbsp;Tronox Holdings PLC, Cl A | 55426 | 193991 |
| &nbsp;&nbsp;&nbsp;United States Antimony \* | 43303 | 349455 |
| &nbsp;&nbsp;&nbsp;United States Lime & Minerals | 5051 | 592078 |
| &nbsp;&nbsp;&nbsp;US Gold \* | 5771 | 88412 |
| &nbsp;&nbsp;&nbsp;Valhi | 1148 | 15923 |
| &nbsp;&nbsp;&nbsp;Warrior Met Coal | 24295 | 1648173 |
| &nbsp;&nbsp;&nbsp;Worthington Steel | 15305 | 489607 |
|  |  | 49602909 |
| Real Estate — 5.5% |  |  |
| &nbsp;&nbsp;&nbsp;Acadia Realty Trust <sup>‡</sup> | 61491 | 1172633 |
| &nbsp;&nbsp;&nbsp;Alexander & Baldwin <sup>‡</sup> | 34029 | 543443 |
| &nbsp;&nbsp;&nbsp;Alexander's <sup>‡</sup> | 1002 | 221372 |
| &nbsp;&nbsp;&nbsp;Alpine Income Property Trust <sup>‡</sup> | 5859 | 86010 |
| &nbsp;&nbsp;&nbsp;American Assets Trust <sup>‡</sup> | 24217 | 462787 |
| &nbsp;&nbsp;&nbsp;American Healthcare REIT <sup>‡</sup> | 74177 | 3361702 |
| &nbsp;&nbsp;&nbsp;American Realty Investors \* | 610 | 9607 |
| &nbsp;&nbsp;&nbsp;Anywhere Real Estate \* | 49145 | 493907 |
| &nbsp;&nbsp;&nbsp;Apartment Investment and Management, Cl A, REIT <sup>‡</sup> | 61233 | 325760 |
| &nbsp;&nbsp;&nbsp;Apple Hospitality REIT <sup>‡</sup> | 104353 | 1167710 |
| &nbsp;&nbsp;&nbsp;Armada Hoffler Properties REIT ‡ | 37103 | 242654 |
| &nbsp;&nbsp;&nbsp;Braemar Hotels & Resorts <sup>‡</sup> | 27804 | 70900 |
| &nbsp;&nbsp;&nbsp;Brandywine Realty Trust <sup>‡</sup> | 79871 | 273958 |
| &nbsp;&nbsp;&nbsp;Broadstone Net Lease <sup>‡</sup> | 88401 | 1584146 |
| &nbsp;&nbsp;&nbsp;BRT Apartments <sup>‡</sup> | 5088 | 74844 |
| &nbsp;&nbsp;&nbsp;CareTrust REIT <sup>‡</sup> | 99316 | 3441299 |
| &nbsp;&nbsp;&nbsp;CBL & Associates Properties <sup>‡</sup> | 8465 | 250310 |
| &nbsp;&nbsp;&nbsp;Centerspace <sup>‡</sup> | 7856 | 465468 |
| &nbsp;&nbsp;&nbsp;Chatham Lodging Trust <sup>‡</sup> | 21616 | 138342 |
| &nbsp;&nbsp;&nbsp;City Office REIT ‡ | 18211 | 125656 |
| &nbsp;&nbsp;&nbsp;Clipper Realty <sup>‡</sup> | 6387 | 24845 |
| &nbsp;&nbsp;&nbsp;Community Healthcare Trust <sup>‡</sup> | 12689 | 186021 |
| &nbsp;&nbsp;&nbsp;Compass, Cl A, REIT \* | 217681 | 1678321 |
| &nbsp;&nbsp;&nbsp;COPT Defense Properties <sup>‡</sup> | 53097 | 1495742 |
| &nbsp;&nbsp;&nbsp;CTO Realty Growth <sup>‡</sup> | 14469 | 241343 |

---

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

*195*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Real Estate — continued |  |  |
| &nbsp;&nbsp;&nbsp;Curbline Properties <sup>‡</sup> | 45362 | $1046048 |
| &nbsp;&nbsp;&nbsp;Cushman & Wakefield PLC \* | 107872 | 1693590 |
| &nbsp;&nbsp;&nbsp;DiamondRock Hospitality <sup>‡</sup> | 96066 | 751236 |
| &nbsp;&nbsp;&nbsp;Diversified Healthcare Trust ‡ | 102272 | 435679 |
| &nbsp;&nbsp;&nbsp;Douglas Elliman \* | 34580 | 85413 |
| &nbsp;&nbsp;&nbsp;Douglas Emmett <sup>‡</sup> | 75478 | 976685 |
| &nbsp;&nbsp;&nbsp;Easterly Government Properties <sup>‡</sup> | 19176 | 414585 |
| &nbsp;&nbsp;&nbsp;Elme Communities <sup>‡</sup> | 41012 | 674647 |
| &nbsp;&nbsp;&nbsp;Empire State Realty Trust, Cl A, REIT <sup>‡</sup> | 64300 | 475177 |
| &nbsp;&nbsp;&nbsp;Essential Properties Realty Trust <sup>‡</sup> | 92594 | 2766709 |
| &nbsp;&nbsp;&nbsp;eXp World Holdings | 40842 | 418222 |
| &nbsp;&nbsp;&nbsp;Farmland Partners <sup>‡</sup> | 19235 | 192927 |
| &nbsp;&nbsp;&nbsp;Forestar Group \* | 8960 | 233050 |
| &nbsp;&nbsp;&nbsp;Four Corners Property Trust <sup>‡</sup> | 46504 | 1099355 |
| &nbsp;&nbsp;&nbsp;Franklin Street Properties <sup>‡</sup> | 36871 | 44245 |
| &nbsp;&nbsp;&nbsp;FrontView REIT <sup>‡</sup> | 8994 | 119620 |
| &nbsp;&nbsp;&nbsp;FRP Holdings \* | 5401 | 128004 |
| &nbsp;&nbsp;&nbsp;Getty Realty <sup>‡</sup> | 24679 | 676945 |
| &nbsp;&nbsp;&nbsp;Gladstone Commercial <sup>‡</sup> | 21560 | 246431 |
| &nbsp;&nbsp;&nbsp;Gladstone Land <sup>‡</sup> | 15914 | 144181 |
| &nbsp;&nbsp;&nbsp;Global Medical REIT <sup>‡</sup> | 5924 | 181867 |
| &nbsp;&nbsp;&nbsp;Global Net Lease <sup>‡</sup> | 93284 | 710824 |
| &nbsp;&nbsp;&nbsp;Hudson Pacific Properties <sup>‡ \*</sup> | 173304 | 422862 |
| &nbsp;&nbsp;&nbsp;Independence Realty Trust <sup>‡</sup> | 109630 | 1746406 |
| &nbsp;&nbsp;&nbsp;Industrial Logistics Properties Trust <sup>‡</sup> | 24581 | 129788 |
| &nbsp;&nbsp;&nbsp;Innovative Industrial Properties <sup>‡</sup> | 12936 | 648740 |
| &nbsp;&nbsp;&nbsp;InvenTrust Properties <sup>‡</sup> | 36354 | 996100 |
| &nbsp;&nbsp;&nbsp;JBG SMITH Properties <sup>‡</sup> | 29076 | 566691 |
| &nbsp;&nbsp;&nbsp;Kennedy-Wilson Holdings | 56125 | 424305 |
| &nbsp;&nbsp;&nbsp;Kite Realty Group Trust <sup>‡</sup> | 102915 | 2278538 |
| &nbsp;&nbsp;&nbsp;LTC Properties <sup>‡</sup> | 21196 | 743556 |
| &nbsp;&nbsp;&nbsp;LXP Industrial Trust <sup>‡</sup> | 135844 | 1289160 |
| &nbsp;&nbsp;&nbsp;Macerich <sup>‡</sup> | 118345 | 2029617 |
| &nbsp;&nbsp;&nbsp;Marcus & Millichap | 11120 | 324815 |
| &nbsp;&nbsp;&nbsp;Maui Land & Pineapple \* | 3237 | 51792 |
| &nbsp;&nbsp;&nbsp;Modiv Industrial <sup>‡</sup> | 4375 | 63087 |
| &nbsp;&nbsp;&nbsp;National Health Investors <sup>‡</sup> | 21548 | 1605541 |
| &nbsp;&nbsp;&nbsp;NET Lease Office Properties <sup>‡</sup> | 6910 | 202809 |
| &nbsp;&nbsp;&nbsp;NETSTREIT <sup>‡</sup> | 44202 | 823041 |

---

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

*196*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Real Estate — continued |  |  |
| &nbsp;&nbsp;&nbsp;Newmark Group, Cl A, REIT | 72443 | $1291659 |
| &nbsp;&nbsp;&nbsp;NexPoint Diversified Real Estate Trust <sup>‡</sup> | 15796 | 50231 |
| &nbsp;&nbsp;&nbsp;NexPoint Residential Trust <sup>‡</sup> | 10611 | 325439 |
| &nbsp;&nbsp;&nbsp;One Liberty Properties <sup>‡</sup> | 8507 | 170906 |
| &nbsp;&nbsp;&nbsp;Outfront Media <sup>‡</sup> | 64914 | 1148329 |
| &nbsp;&nbsp;&nbsp;Paramount Group <sup>‡</sup> \* | 87037 | 569222 |
| &nbsp;&nbsp;&nbsp;Peakstone Realty Trust <sup>‡</sup> | 17057 | 230440 |
| &nbsp;&nbsp;&nbsp;Pebblebrook Hotel Trust <sup>‡</sup> | 54768 | 572873 |
| &nbsp;&nbsp;&nbsp;Phillips Edison <sup>‡</sup> | 58836 | 1991010 |
| &nbsp;&nbsp;&nbsp;Piedmont Office Realty Trust <sup>‡</sup> | 57917 | 466811 |
| &nbsp;&nbsp;&nbsp;Plymouth Industrial REIT <sup>‡</sup> | 19033 | 418726 |
| &nbsp;&nbsp;&nbsp;Postal Realty Trust, Cl A, REIT <sup>‡</sup> | 10554 | 156305 |
| &nbsp;&nbsp;&nbsp;PotlatchDeltic <sup>‡</sup> | 36499 | 1459960 |
| &nbsp;&nbsp;&nbsp;RE/MAX Holdings, Cl A, REIT \* | 8490 | 67326 |
| &nbsp;&nbsp;&nbsp;RLJ Lodging Trust <sup>‡</sup> | 69170 | 470356 |
| &nbsp;&nbsp;&nbsp;RMR Group, Cl A, REIT | 7196 | 111322 |
| &nbsp;&nbsp;&nbsp;Ryman Hospitality Properties <sup>‡</sup> | 28789 | 2502052 |
| &nbsp;&nbsp;&nbsp;Sabra Health Care REIT <sup>‡</sup> | 110795 | 1974367 |
| &nbsp;&nbsp;&nbsp;Safehold <sup>‡</sup> | 26045 | 375829 |
| &nbsp;&nbsp;&nbsp;Saul Centers <sup>‡</sup> | 5706 | 168955 |
| &nbsp;&nbsp;&nbsp;Seaport Entertainment Group \* | 3460 | 83282 |
| &nbsp;&nbsp;&nbsp;Service Properties Trust <sup>‡</sup> | 71681 | 153397 |
| &nbsp;&nbsp;&nbsp;Sila Realty Trust <sup>‡</sup> | 25930 | 614541 |
| &nbsp;&nbsp;&nbsp;SITE Centers <sup>‡</sup> | 23286 | 170686 |
| &nbsp;&nbsp;&nbsp;SL Green Realty <sup>‡</sup> | 33482 | 1719301 |
| &nbsp;&nbsp;&nbsp;SmartStop Self Storage REIT <sup>‡</sup> | 14529 | 499071 |
| &nbsp;&nbsp;&nbsp;St. Joe | 17748 | 1007731 |
| &nbsp;&nbsp;&nbsp;Stratus Properties \* | 3157 | 59320 |
| &nbsp;&nbsp;&nbsp;Strawberry Fields REIT <sup>‡</sup> | 3444 | 40054 |
| &nbsp;&nbsp;&nbsp;Summit Hotel Properties <sup>‡</sup> | 50915 | 261703 |
| &nbsp;&nbsp;&nbsp;Sunstone Hotel Investors <sup>‡</sup> | 88732 | 785278 |
| &nbsp;&nbsp;&nbsp;Tanger <sup>‡</sup> | 52091 | 1696083 |
| &nbsp;&nbsp;&nbsp;Tejon Ranch \* | 9754 | 154308 |
| &nbsp;&nbsp;&nbsp;Terreno Realty <sup>‡</sup> | 47652 | 2722359 |
| &nbsp;&nbsp;&nbsp;Transcontinental Realty Investors \* | 888 | 39800 |
| &nbsp;&nbsp;&nbsp;UMH Properties <sup>‡</sup> | 37043 | 538605 |
| &nbsp;&nbsp;&nbsp;Universal Health Realty Income Trust <sup>‡</sup> | 5976 | 228403 |
| &nbsp;&nbsp;&nbsp;Urban Edge Properties <sup>‡</sup> | 59283 | 1140012 |
| &nbsp;&nbsp;&nbsp;Veris Residential <sup>‡</sup> | 36796 | 528391 |

---

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

*197*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Real Estate — continued |  |  |
| &nbsp;&nbsp;&nbsp;Whitestone REIT <sup>‡</sup> | 20926 | $262412 |
| &nbsp;&nbsp;&nbsp;Xenia Hotels & Resorts <sup>‡</sup> | 46090 | 566907 |
|  |  | 73794830 |
| Utilities — 3.1% |  |  |
| &nbsp;&nbsp;&nbsp;ALLETE | 27270 | 1836089 |
| &nbsp;&nbsp;&nbsp;American States Water | 18026 | 1285434 |
| &nbsp;&nbsp;&nbsp;Avista | 37522 | 1427712 |
| &nbsp;&nbsp;&nbsp;Black Hills | 33870 | 2148374 |
| &nbsp;&nbsp;&nbsp;Cadiz \* | 25458 | 134927 |
| &nbsp;&nbsp;&nbsp;California Water Service Group | 27860 | 1236427 |
| &nbsp;&nbsp;&nbsp;Chesapeake Utilities | 10661 | 1356932 |
| &nbsp;&nbsp;&nbsp;Consolidated Water | 7000 | 238070 |
| &nbsp;&nbsp;&nbsp;Genie Energy, Cl B | 9858 | 148363 |
| &nbsp;&nbsp;&nbsp;Global Water Resources | 5840 | 57933 |
| &nbsp;&nbsp;&nbsp;H2O America | 14837 | 686211 |
| &nbsp;&nbsp;&nbsp;Hawaiian Electric Industries \* | 81264 | 944288 |
| &nbsp;&nbsp;&nbsp;MGE Energy | 17190 | 1424535 |
| &nbsp;&nbsp;&nbsp;Middlesex Water | 8312 | 477691 |
| &nbsp;&nbsp;&nbsp;Montauk Renewables \* | 31207 | 63350 |
| &nbsp;&nbsp;&nbsp;New Jersey Resources | 47085 | 2085865 |
| &nbsp;&nbsp;&nbsp;Northwest Natural Holding | 18863 | 858832 |
| &nbsp;&nbsp;&nbsp;Northwestern Energy Group | 28755 | 1715811 |
| &nbsp;&nbsp;&nbsp;Oklo, Cl A \* | 50653 | 6725199 |
| &nbsp;&nbsp;&nbsp;ONE Gas | 27909 | 2238023 |
| &nbsp;&nbsp;&nbsp;Ormat Technologies | 28466 | 3027928 |
| &nbsp;&nbsp;&nbsp;Otter Tail | 17959 | 1386794 |
| &nbsp;&nbsp;&nbsp;Portland General Electric | 51379 | 2346993 |
| &nbsp;&nbsp;&nbsp;Pure Cycle \* | 9320 | 102613 |
| &nbsp;&nbsp;&nbsp;RGC Resources | 3842 | 79568 |
| &nbsp;&nbsp;&nbsp;Southwest Gas Holdings | 30177 | 2399072 |
| &nbsp;&nbsp;&nbsp;Spire | 27199 | 2349994 |
| &nbsp;&nbsp;&nbsp;TXNM Energy | 45425 | 2580140 |
| &nbsp;&nbsp;&nbsp;Unitil | 7469 | 364114 |
| &nbsp;&nbsp;&nbsp;York Water | 6684 | 207672 |
|  |  | 41934954 |
| TOTAL UNITED STATES |  | 1280252157 |
| TOTAL COMMON STOCK<br> (Cost $1,192,599,734) |  | 1337469809 |

---

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

*198*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Rights** | **Value** |
| **RIGHTS — 0.0%** |  |  |
| **United States — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings#<sup>(B)</sup> | 28145 | $— |
| TOTAL RIGHTS <br> (Cost $–) |  |  |
|  | **Shares** |  |
| **SHORT-TERM INVESTMENT<sup>(C)(D)</sup> — 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio, Cl Institutional, 4.050% <br> (Cost $15,311,374) | 15311374 | 15311374 |
| TOTAL INVESTMENTS — 100.9% <br> (Cost $1,207,911,108) |  | $1352781183 |

---

*Percentages are based on Net Assets of $1,340,806,370.*

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

*199*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

*A list of the open futures contracts held by the Fund at October 31, 2025, is as follows:*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ***Type of Contract*** | ***Number of<br> Contracts*** | ***Expiration<br> Date*** | ***Notional Amount*** | ***Value*** | ***Unrealized<br> Appreciation*** |
| *Long Contracts* |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*E-mini Russell 2000 Index* | *26* | *Dec-2025* | $*3192720* | $*3236870* | $*44150* |

---

---

| | |
|:---|:---|
| # | Expiration date not available. |
| \* | Non-income producing security. |
| ‡ | Real Estate Investment Trust |
| (A) | *This security or a partial position of this security is on loan at October 31, 2025. The total market value of securities on loan at October 31, 2025 was $15,268,893.* |
| (B) | Level 3 security in accordance with fair value hierarchy. |
| (C) | *These securities were purchased with cash collateral held from securities on loan. The total value of such securities as of October 31, 2025 was $15,311,374. The total value of non-cash collateral held from securities on loan as of October 31, 2025 was $-.* |
| (D) | *The rate reported on the Schedule of Investments is the 7-day effective yield as of October 31, 2025.* |

---

*The following is a summary of the level of inputs used as of October 31, 2025, in valuing the Fund's investments and other financial instruments carried at value:*

---

| | | | | |
|:---|:---|:---|:---|:---|
| Investments in Securities | Level 1 | Level 2 | *Level 3<sup>(1)</sup>* | Total |
| &nbsp;&nbsp;&nbsp;Common Stock | $1337469809 | $— | $*—* | $1337469809 |
| &nbsp;&nbsp;&nbsp;Rights |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Short-Term Investment | 15311374 |  |  | 15311374 |
| Total Investments in Securities | $1352781183 | $— | $*—* | $1352781183 |
| Other Financial Instruments | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;Futures Contracts\* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized Appreciation | $44150 | $— | $*—* | $44150 |
| Total Other Financial Instruments | $44150 | $— | $*—* | $44150 |

---

---

| | |
|:---|:---|
| *\** | *Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.* |
| *^* | *Includes Securities in which the fair value is $0 or has been rounded to $0.* |
| *(1)* | *A reconciliation of Level 3 investments and disclosures of significant unobservable inputs are presented when the Fund has a significant amount of Level 3 investments at the end of the period in relation to Net Assets. Management has concluded that Level 3 investments are not material in relation to Net Assets.* |

---

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

*200*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X Russell 2000 ETF</u>

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

*See "Glossary" for abbreviations.*

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

*201*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X U.S. Electrification ETF** | **Global X U.S. Electrification ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 100.0%** |  |  |
| **CANADA — 1.7%** |  |  |
| Utilities — 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;Emera | 87576 | $4169493 |
| **UNITED KINGDOM — 4.0%** |  |  |
| Utilities — 4.0% |  |  |
| &nbsp;&nbsp;&nbsp;National Grid PLC ADR | 129283 | 9728546 |
| **UNITED STATES — 94.3%** |  |  |
| Consumer Discretionary — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;EVgo, Cl A \* | 37213 | 152946 |
| Industrials — 22.1% |  |  |
| &nbsp;&nbsp;&nbsp;Ameresco, Cl A \* | 8902 | 351807 |
| &nbsp;&nbsp;&nbsp;American Superconductor \* | 11912 | 705548 |
| &nbsp;&nbsp;&nbsp;AMETEK | 53633 | 10839766 |
| &nbsp;&nbsp;&nbsp;Blink Charging \* | 29328 | 49858 |
| &nbsp;&nbsp;&nbsp;Bloom Energy, Cl A \* | 49015 | 6477822 |
| &nbsp;&nbsp;&nbsp;ChargePoint Holdings \* | 6080 | 65664 |
| &nbsp;&nbsp;&nbsp;Eaton PLC | 26651 | 10168956 |
| &nbsp;&nbsp;&nbsp;Energy Vault Holdings \* | 22933 | 81183 |
| &nbsp;&nbsp;&nbsp;EnerSys | 9795 | 1235737 |
| &nbsp;&nbsp;&nbsp;Eos Energy Enterprises \* | 72834 | 1167529 |
| &nbsp;&nbsp;&nbsp;Fluence Energy, Cl A \* | 15896 | 333816 |
| &nbsp;&nbsp;&nbsp;FuelCell Energy \* | 10072 | 90144 |
| &nbsp;&nbsp;&nbsp;Hubbell, Cl B | 14996 | 7048120 |
| &nbsp;&nbsp;&nbsp;MasTec \* | 16972 | 3465003 |
| &nbsp;&nbsp;&nbsp;NuScale Power \* | 30955 | 1388951 |
| &nbsp;&nbsp;&nbsp;Plug Power \* | 326645 | 878675 |
| &nbsp;&nbsp;&nbsp;Quanta Services | 22924 | 10295856 |
|  |  | 54644435 |
| Utilities — 72.1% |  |  |
| &nbsp;&nbsp;&nbsp;ALLETE | 17006 | 1145014 |
| &nbsp;&nbsp;&nbsp;Alliant Energy | 75306 | 5031947 |
| &nbsp;&nbsp;&nbsp;Ameren | 78105 | 7968272 |
| &nbsp;&nbsp;&nbsp;American Electric Power | 84650 | 10180009 |
| &nbsp;&nbsp;&nbsp;Avista | 22799 | 867502 |
| &nbsp;&nbsp;&nbsp;Clearway Energy, Cl C | 23444 | 748567 |

---

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

*202*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X U.S. Electrification ETF** | **Global X U.S. Electrification ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Utilities — continued |  |  |
| &nbsp;&nbsp;&nbsp;Consolidated Edison | 98319 | $9577254 |
| &nbsp;&nbsp;&nbsp;Constellation Energy | 25743 | 9705111 |
| &nbsp;&nbsp;&nbsp;Dominion Energy | 164213 | 9637661 |
| &nbsp;&nbsp;&nbsp;Duke Energy | 77404 | 9621317 |
| &nbsp;&nbsp;&nbsp;Edison International | 104278 | 5774916 |
| &nbsp;&nbsp;&nbsp;Entergy | 103812 | 9975295 |
| &nbsp;&nbsp;&nbsp;Evergy | 66536 | 5110630 |
| &nbsp;&nbsp;&nbsp;Eversource Energy | 109038 | 8048095 |
| &nbsp;&nbsp;&nbsp;Exelon | 208217 | 9602968 |
| &nbsp;&nbsp;&nbsp;FirstEnergy | 169900 | 7786517 |
| &nbsp;&nbsp;&nbsp;Genie Energy, Cl B | 3451 | 51938 |
| &nbsp;&nbsp;&nbsp;Hawaiian Electric Industries \* | 48889 | 568090 |
| &nbsp;&nbsp;&nbsp;IDACORP | 15689 | 2024195 |
| &nbsp;&nbsp;&nbsp;NextEra Energy | 117697 | 9580536 |
| &nbsp;&nbsp;&nbsp;Northwestern Energy Group | 17462 | 1041957 |
| &nbsp;&nbsp;&nbsp;OGE Energy | 58199 | 2568904 |
| &nbsp;&nbsp;&nbsp;Ormat Technologies | 17079 | 1816693 |
| &nbsp;&nbsp;&nbsp;Pinnacle West Capital | 34845 | 3084479 |
| &nbsp;&nbsp;&nbsp;Portland General Electric | 31400 | 1434352 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group | 117378 | 9455972 |
| &nbsp;&nbsp;&nbsp;Southern | 101722 | 9565937 |
| &nbsp;&nbsp;&nbsp;Talen Energy \* | 13454 | 5378640 |
| &nbsp;&nbsp;&nbsp;TXNM Energy | 30530 | 1734104 |
| &nbsp;&nbsp;&nbsp;Vistra | 49405 | 9302961 |
| &nbsp;&nbsp;&nbsp;Xcel Energy | 122583 | 9950062 |
|  |  | 178339895 |
| TOTAL UNITED STATES |  | 233137276 |
| TOTAL COMMON STOCK<br> (Cost $231,050,409) |  | 247035315 |
| TOTAL INVESTMENTS — 100.0%<br> (Cost $231,050,409) |  | $247035315 |

---

*Percentages are based on Net Assets of $247,152,684.*

*\** *Non-income producing security.*

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

*203*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X U.S. Electrification ETF** | **Global X U.S. Electrification ETF** |

---

*As of October 31, 2025, 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.*

*See "Glossary" for abbreviations.*

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

*204*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500 U.S. Market Leaders Top 50 ETF** | **Global X S&P 500 U.S. Market Leaders Top 50 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 99.9%** |  |  |
| **UNITED STATES — 99.9%** |  |  |
| Communication Services — 2.5% |  |  |
| &nbsp;&nbsp;&nbsp;Verizon Communications | 1066 | $42363 |
| Consumer Discretionary — 15.8% |  |  |
| &nbsp;&nbsp;&nbsp;Amazon.com \* | 329 | 80348 |
| &nbsp;&nbsp;&nbsp;AutoZone \* | 4 | 14698 |
| &nbsp;&nbsp;&nbsp;Deckers Outdoor \* | 38 | 3097 |
| &nbsp;&nbsp;&nbsp;Home Depot | 195 | 74020 |
| &nbsp;&nbsp;&nbsp;Lowe's | 143 | 34053 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive \* | 217 | 20493 |
| &nbsp;&nbsp;&nbsp;Starbucks | 251 | 20298 |
| &nbsp;&nbsp;&nbsp;Tapestry | 51 | 5601 |
| &nbsp;&nbsp;&nbsp;Yum! Brands | 70 | 9675 |
|  |  | 262283 |
| Consumer Staples — 9.6% |  |  |
| &nbsp;&nbsp;&nbsp;Altria Group | 428 | 24131 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark | 90 | 10774 |
| &nbsp;&nbsp;&nbsp;PepsiCo | 349 | 50985 |
| &nbsp;&nbsp;&nbsp;Walmart | 734 | 74266 |
|  |  | 160156 |
| Energy — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;Texas Pacific Land | 5 | 4717 |
| Financials — 18.7% |  |  |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial | 24 | 10866 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon | 177 | 19104 |
| &nbsp;&nbsp;&nbsp;Capital One Financial | 152 | 33438 |
| &nbsp;&nbsp;&nbsp;Coinbase Global, Cl A \* | 52 | 17877 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase | 262 | 81513 |
| &nbsp;&nbsp;&nbsp;Progressive | 159 | 32754 |
| &nbsp;&nbsp;&nbsp;S&P Global | 79 | 38490 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | 89 | 6620 |
| &nbsp;&nbsp;&nbsp;Wells Fargo | 816 | 70967 |
|  |  | 311629 |
| Health Care — 23.8% |  |  |
| &nbsp;&nbsp;&nbsp;AbbVie | 367 | 80021 |

---

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

*205*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500 U.S. Market Leaders Top 50 ETF** | **Global X S&P 500 U.S. Market Leaders Top 50 ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Eli Lilly | 87 | $75069 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories \* | 20 | 12590 |
| &nbsp;&nbsp;&nbsp;McKesson | 32 | 25963 |
| &nbsp;&nbsp;&nbsp;Merck | 603 | 51846 |
| &nbsp;&nbsp;&nbsp;Pfizer | 1371 | 33795 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals | 25 | 16295 |
| &nbsp;&nbsp;&nbsp;ResMed | 35 | 8641 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group | 222 | 75826 |
| &nbsp;&nbsp;&nbsp;Zoetis, Cl A | 113 | 16282 |
|  |  | 396328 |
| Industrials — 5.8% |  |  |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing | 106 | 27592 |
| &nbsp;&nbsp;&nbsp;Copart \* | 225 | 9677 |
| &nbsp;&nbsp;&nbsp;Lennox International | 9 | 4545 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin | 56 | 27545 |
| &nbsp;&nbsp;&nbsp;Paychex | 82 | 9597 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Cl B | 177 | 17066 |
|  |  | 96022 |
| Information Technology — 23.4% |  |  |
| &nbsp;&nbsp;&nbsp;Adobe \* | 108 | 36753 |
| &nbsp;&nbsp;&nbsp;Arista Networks \* | 238 | 37530 |
| &nbsp;&nbsp;&nbsp;Cisco Systems | 982 | 71794 |
| &nbsp;&nbsp;&nbsp;Fair Isaac \* | 6 | 9957 |
| &nbsp;&nbsp;&nbsp;GoDaddy, Cl A \* | 37 | 4926 |
| &nbsp;&nbsp;&nbsp;Intuit | 69 | 46061 |
| &nbsp;&nbsp;&nbsp;Microsoft | 149 | 77154 |
| &nbsp;&nbsp;&nbsp;Oracle | 383 | 100580 |
| &nbsp;&nbsp;&nbsp;VeriSign | 20 | 4796 |
|  |  | 389551 |
| TOTAL UNITED STATES |  | 1663049 |
| TOTAL COMMON STOCK<br> (Cost $1,723,997) |  | 1663049 |
| TOTAL INVESTMENTS — 99.9%<br> (Cost $1,723,997) |  | $1663049 |

---

*Percentages are based on Net Assets of $1,664,830.*

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

*206*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500 U.S. Market Leaders Top 50 ETF** | **Global X S&P 500 U.S. Market Leaders Top 50 ETF** |

---

*\** *Non-income producing security.*

*As of October 31, 2025, 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.*

*See "Glossary" for abbreviations.*

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

*207*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500 U.S. Revenue Leaders ETF** | **Global X S&P 500 U.S. Revenue Leaders ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 99.9%** |  |  |
| **UNITED STATES — 99.9%** |  |  |
| Communication Services — 4.2% |  |  |
| &nbsp;&nbsp;&nbsp;AT&T | 638 | $15791 |
| &nbsp;&nbsp;&nbsp;Charter Communications, Cl A \* | 8 | 1871 |
| &nbsp;&nbsp;&nbsp;Comcast, Cl A | 329 | 9158 |
| &nbsp;&nbsp;&nbsp;Fox, Cl A | 19 | 1228 |
| &nbsp;&nbsp;&nbsp;Fox, Cl B | 12 | 701 |
| &nbsp;&nbsp;&nbsp;Interpublic Group | 35 | 898 |
| &nbsp;&nbsp;&nbsp;Live Nation Entertainment \* | 14 | 2093 |
| &nbsp;&nbsp;&nbsp;Omnicom Group | 17 | 1275 |
| &nbsp;&nbsp;&nbsp;Paramount Skydance Corp, Cl B | 54 | 831 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software \* | 15 | 3846 |
| &nbsp;&nbsp;&nbsp;TKO Group Holdings, Cl A | 6 | 1130 |
| &nbsp;&nbsp;&nbsp;T-Mobile US | 42 | 8822 |
| &nbsp;&nbsp;&nbsp;Verizon Communications | 374 | 14863 |
| &nbsp;&nbsp;&nbsp;Walt Disney | 160 | 18019 |
| &nbsp;&nbsp;&nbsp;Warner Bros Discovery \* | 201 | 4513 |
|  |  | 85039 |
| Consumer Discretionary — 12.1% |  |  |
| &nbsp;&nbsp;&nbsp;Amazon.com \* | 573 | 139938 |
| &nbsp;&nbsp;&nbsp;AutoZone \* | 1 | 3674 |
| &nbsp;&nbsp;&nbsp;Best Buy | 12 | 986 |
| &nbsp;&nbsp;&nbsp;Carnival \* | 63 | 1816 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Cl A \* | 82 | 2599 |
| &nbsp;&nbsp;&nbsp;Darden Restaurants | 7 | 1261 |
| &nbsp;&nbsp;&nbsp;Deckers Outdoor \* | 9 | 734 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza | 2 | 797 |
| &nbsp;&nbsp;&nbsp;DoorDash, Cl A \* | 21 | 5342 |
| &nbsp;&nbsp;&nbsp;DR Horton | 16 | 2385 |
| &nbsp;&nbsp;&nbsp;eBay | 28 | 2277 |
| &nbsp;&nbsp;&nbsp;Expedia Group | 7 | 1540 |
| &nbsp;&nbsp;&nbsp;Ford Motor | 238 | 3125 |
| &nbsp;&nbsp;&nbsp;General Motors | 58 | 4007 |
| &nbsp;&nbsp;&nbsp;Genuine Parts | 8 | 1019 |
| &nbsp;&nbsp;&nbsp;Hasbro | 8 | 611 |
| &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings | 14 | 3597 |
| &nbsp;&nbsp;&nbsp;Home Depot | 60 | 22775 |
| &nbsp;&nbsp;&nbsp;Lennar, Cl A | 14 | 1733 |
| &nbsp;&nbsp;&nbsp;Lowe's | 34 | 8096 |

---

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

*208*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500 U.S. Revenue Leaders ETF** | **Global X S&P 500 U.S. Revenue Leaders ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica \* | 7 | $1194 |
| &nbsp;&nbsp;&nbsp;Marriott International, Cl A | 14 | 3648 |
| &nbsp;&nbsp;&nbsp;MGM Resorts International \* | 14 | 448 |
| &nbsp;&nbsp;&nbsp;Mohawk Industries \* | 3 | 341 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive \* | 51 | 4816 |
| &nbsp;&nbsp;&nbsp;Pool | 2 | 534 |
| &nbsp;&nbsp;&nbsp;PulteGroup | 12 | 1438 |
| &nbsp;&nbsp;&nbsp;Ross Stores | 20 | 3178 |
| &nbsp;&nbsp;&nbsp;Starbucks | 69 | 5580 |
| &nbsp;&nbsp;&nbsp;Tapestry | 13 | 1428 |
| &nbsp;&nbsp;&nbsp;TJX | 68 | 9530 |
| &nbsp;&nbsp;&nbsp;Tractor Supply | 32 | 1732 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty \* | 3 | 1560 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma | 7 | 1360 |
| &nbsp;&nbsp;&nbsp;Yum! Brands | 16 | 2211 |
|  |  | 247310 |
| Consumer Staples — 4.8% |  |  |
| &nbsp;&nbsp;&nbsp;Altria Group | 102 | 5751 |
| &nbsp;&nbsp;&nbsp;Church & Dwight | 15 | 1315 |
| &nbsp;&nbsp;&nbsp;Clorox | 7 | 787 |
| &nbsp;&nbsp;&nbsp;Conagra Brands | 28 | 481 |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Cl A | 9 | 1182 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale | 27 | 24609 |
| &nbsp;&nbsp;&nbsp;Dollar General | 13 | 1283 |
| &nbsp;&nbsp;&nbsp;Dollar Tree \* | 12 | 1190 |
| &nbsp;&nbsp;&nbsp;General Mills | 33 | 1538 |
| &nbsp;&nbsp;&nbsp;Hershey | 9 | 1527 |
| &nbsp;&nbsp;&nbsp;Hormel Foods | 18 | 389 |
| &nbsp;&nbsp;&nbsp;J M Smucker | 7 | 725 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper | 82 | 2227 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark | 20 | 2394 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz | 51 | 1261 |
| &nbsp;&nbsp;&nbsp;Kroger | 37 | 2354 |
| &nbsp;&nbsp;&nbsp;Lamb Weston Holdings | 8 | 494 |
| &nbsp;&nbsp;&nbsp;McCormick | 15 | 962 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage, Cl B | 10 | 437 |
| &nbsp;&nbsp;&nbsp;Monster Beverage \* | 42 | 2807 |
| &nbsp;&nbsp;&nbsp;PepsiCo | 83 | 12126 |

---

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

*209*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500 U.S. Revenue Leaders ETF** | **Global X S&P 500 U.S. Revenue Leaders ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Staples — continued |  |  |
| &nbsp;&nbsp;&nbsp;Sysco | 29 | $2154 |
| &nbsp;&nbsp;&nbsp;Target | 27 | 2503 |
| &nbsp;&nbsp;&nbsp;The Campbell's Company | 12 | 362 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Cl A | 17 | 874 |
| &nbsp;&nbsp;&nbsp;Walmart | 261 | 26408 |
|  |  | 98140 |
| Energy — 2.1% |  |  |
| &nbsp;&nbsp;&nbsp;APA | 21 | 476 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | 76 | 6753 |
| &nbsp;&nbsp;&nbsp;Coterra Energy | 47 | 1112 |
| &nbsp;&nbsp;&nbsp;Devon Energy | 39 | 1267 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy | 12 | 1718 |
| &nbsp;&nbsp;&nbsp;EOG Resources | 33 | 3493 |
| &nbsp;&nbsp;&nbsp;EQT | 36 | 1929 |
| &nbsp;&nbsp;&nbsp;Expand Energy | 13 | 1343 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan | 117 | 3064 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum | 19 | 3703 |
| &nbsp;&nbsp;&nbsp;Occidental Petroleum | 42 | 1730 |
| &nbsp;&nbsp;&nbsp;ONEOK | 37 | 2479 |
| &nbsp;&nbsp;&nbsp;Phillips 66 | 25 | 3404 |
| &nbsp;&nbsp;&nbsp;Targa Resources | 13 | 2003 |
| &nbsp;&nbsp;&nbsp;Texas Pacific Land | 2 | 1887 |
| &nbsp;&nbsp;&nbsp;Valero Energy | 19 | 3222 |
| &nbsp;&nbsp;&nbsp;Williams | 74 | 4282 |
|  |  | 43865 |
| Financials — 16.5% |  |  |
| &nbsp;&nbsp;&nbsp;Allstate | 16 | 3064 |
| &nbsp;&nbsp;&nbsp;American Express | 33 | 11904 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial | 6 | 2717 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management | 27 | 3356 |
| &nbsp;&nbsp;&nbsp;Arthur J Gallagher | 15 | 3742 |
| &nbsp;&nbsp;&nbsp;Assurant | 3 | 635 |
| &nbsp;&nbsp;&nbsp;Bank of America | 393 | 21006 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon | 43 | 4641 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Cl B \* | 111 | 53007 |
| &nbsp;&nbsp;&nbsp;Blackstone | 44 | 6452 |
| &nbsp;&nbsp;&nbsp;Brown & Brown | 14 | 1116 |

---

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

*210*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500 U.S. Revenue Leaders ETF** | **Global X S&P 500 U.S. Revenue Leaders ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Capital One Financial | 38 | $8360 |
| &nbsp;&nbsp;&nbsp;Cboe Global Markets | 6 | 1474 |
| &nbsp;&nbsp;&nbsp;Charles Schwab | 103 | 9736 |
| &nbsp;&nbsp;&nbsp;Chubb | 22 | 6093 |
| &nbsp;&nbsp;&nbsp;Cincinnati Financial | 9 | 1391 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group | 26 | 1323 |
| &nbsp;&nbsp;&nbsp;CME Group, Cl A | 22 | 5841 |
| &nbsp;&nbsp;&nbsp;Coinbase Global, Cl A \* | 13 | 4469 |
| &nbsp;&nbsp;&nbsp;Corpay \* | 5 | 1302 |
| &nbsp;&nbsp;&nbsp;Erie Indemnity, Cl A | 1 | 293 |
| &nbsp;&nbsp;&nbsp;Everest Group | 2 | 629 |
| &nbsp;&nbsp;&nbsp;FactSet Research Systems | 2 | 534 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services | 32 | 2001 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 41 | 1706 |
| &nbsp;&nbsp;&nbsp;Fiserv \* | 34 | 2267 |
| &nbsp;&nbsp;&nbsp;Franklin Resources | 21 | 475 |
| &nbsp;&nbsp;&nbsp;Global Payments | 15 | 1166 |
| &nbsp;&nbsp;&nbsp;Globe Life | 5 | 657 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group | 19 | 14998 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group | 17 | 2111 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares | 87 | 1343 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange | 35 | 5120 |
| &nbsp;&nbsp;&nbsp;Invesco | 28 | 664 |
| &nbsp;&nbsp;&nbsp;Jack Henry & Associates | 5 | 745 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase | 167 | 51957 |
| &nbsp;&nbsp;&nbsp;KeyCorp | 59 | 1038 |
| &nbsp;&nbsp;&nbsp;KKR | 41 | 4851 |
| &nbsp;&nbsp;&nbsp;Loews | 10 | 996 |
| &nbsp;&nbsp;&nbsp;M&T Bank | 9 | 1655 |
| &nbsp;&nbsp;&nbsp;MetLife | 34 | 2714 |
| &nbsp;&nbsp;&nbsp;Moody's | 9 | 4323 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 75 | 12300 |
| &nbsp;&nbsp;&nbsp;Nasdaq | 25 | 2137 |
| &nbsp;&nbsp;&nbsp;Northern Trust | 12 | 1544 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings \* | 58 | 4018 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group | 23 | 4199 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group | 13 | 1092 |
| &nbsp;&nbsp;&nbsp;Progressive | 35 | 7210 |
| &nbsp;&nbsp;&nbsp;Prudential Financial | 21 | 2184 |

---

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

*211*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500 U.S. Revenue Leaders ETF** | **Global X S&P 500 U.S. Revenue Leaders ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Raymond James Financial | 11 | $1745 |
| &nbsp;&nbsp;&nbsp;Regions Financial | 54 | 1307 |
| &nbsp;&nbsp;&nbsp;S&P Global | 19 | 9257 |
| &nbsp;&nbsp;&nbsp;State Street | 17 | 1966 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | 23 | 1711 |
| &nbsp;&nbsp;&nbsp;T Rowe Price Group | 13 | 1333 |
| &nbsp;&nbsp;&nbsp;Travelers | 14 | 3761 |
| &nbsp;&nbsp;&nbsp;Truist Financial | 77 | 3436 |
| &nbsp;&nbsp;&nbsp;US Bancorp | 93 | 4341 |
| &nbsp;&nbsp;&nbsp;W R Berkley | 18 | 1284 |
| &nbsp;&nbsp;&nbsp;Wells Fargo | 196 | 17046 |
| &nbsp;&nbsp;&nbsp;Willis Towers Watson PLC | 6 | 1879 |
|  |  | 337622 |
| Health Care — 13.0% |  |  |
| &nbsp;&nbsp;&nbsp;AbbVie | 100 | 21804 |
| &nbsp;&nbsp;&nbsp;Amgen | 30 | 8953 |
| &nbsp;&nbsp;&nbsp;Baxter International | 29 | 536 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson | 16 | 2859 |
| &nbsp;&nbsp;&nbsp;Biogen \* | 8 | 1234 |
| &nbsp;&nbsp;&nbsp;Bio-Techne | 9 | 563 |
| &nbsp;&nbsp;&nbsp;Boston Scientific \* | 84 | 8460 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb | 116 | 5344 |
| &nbsp;&nbsp;&nbsp;Cardinal Health | 14 | 2671 |
| &nbsp;&nbsp;&nbsp;Cencora | 9 | 3040 |
| &nbsp;&nbsp;&nbsp;Centene \* | 28 | 990 |
| &nbsp;&nbsp;&nbsp;Charles River Laboratories International \* | 2 | 360 |
| &nbsp;&nbsp;&nbsp;Cigna Group | 15 | 3666 |
| &nbsp;&nbsp;&nbsp;Cooper \* | 12 | 839 |
| &nbsp;&nbsp;&nbsp;CVS Health | 72 | 5627 |
| &nbsp;&nbsp;&nbsp;DaVita \* | 2 | 238 |
| &nbsp;&nbsp;&nbsp;Dexcom \* | 22 | 1281 |
| &nbsp;&nbsp;&nbsp;Edwards Lifesciences \* | 34 | 2803 |
| &nbsp;&nbsp;&nbsp;Elevance Health | 13 | 4124 |
| &nbsp;&nbsp;&nbsp;Eli Lilly | 45 | 38829 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences | 71 | 8505 |
| &nbsp;&nbsp;&nbsp;HCA Healthcare | 10 | 4597 |
| &nbsp;&nbsp;&nbsp;Henry Schein \* | 7 | 442 |
| &nbsp;&nbsp;&nbsp;Hologic \* | 13 | 961 |

---

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

*212*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500 U.S. Revenue Leaders ETF** | **Global X S&P 500 U.S. Revenue Leaders ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Humana | 7 | $1947 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories \* | 5 | 3148 |
| &nbsp;&nbsp;&nbsp;Incyte \* | 9 | 841 |
| &nbsp;&nbsp;&nbsp;Insulet \* | 4 | 1252 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical \* | 21 | 11220 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | 138 | 26064 |
| &nbsp;&nbsp;&nbsp;Labcorp Holdings | 5 | 1270 |
| &nbsp;&nbsp;&nbsp;McKesson | 8 | 6491 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | 73 | 6621 |
| &nbsp;&nbsp;&nbsp;Merck | 143 | 12295 |
| &nbsp;&nbsp;&nbsp;Moderna \* | 19 | 516 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare \* | 3 | 459 |
| &nbsp;&nbsp;&nbsp;Pfizer | 324 | 7987 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics | 6 | 1056 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals | 6 | 3911 |
| &nbsp;&nbsp;&nbsp;ResMed | 8 | 1975 |
| &nbsp;&nbsp;&nbsp;Solventum \* | 8 | 552 |
| &nbsp;&nbsp;&nbsp;STERIS PLC | 6 | 1414 |
| &nbsp;&nbsp;&nbsp;Stryker | 20 | 7125 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific | 22 | 12483 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group | 52 | 17761 |
| &nbsp;&nbsp;&nbsp;Universal Health Services, Cl B | 3 | 651 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals \* | 15 | 6384 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings | 12 | 1207 |
| &nbsp;&nbsp;&nbsp;Zoetis, Cl A | 26 | 3746 |
|  |  | 267102 |
| Industrials — 10.6% |  |  |
| &nbsp;&nbsp;&nbsp;A O Smith | 7 | 462 |
| &nbsp;&nbsp;&nbsp;Allegion PLC | 5 | 829 |
| &nbsp;&nbsp;&nbsp;AMETEK | 14 | 2830 |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing | 24 | 6247 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise \* | 5 | 3661 |
| &nbsp;&nbsp;&nbsp;Boeing \* | 45 | 9046 |
| &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions | 7 | 1543 |
| &nbsp;&nbsp;&nbsp;Builders FirstSource \* | 7 | 813 |
| &nbsp;&nbsp;&nbsp;Carrier Global | 48 | 2856 |
| &nbsp;&nbsp;&nbsp;Caterpillar | 29 | 16741 |
| &nbsp;&nbsp;&nbsp;CH Robinson Worldwide | 7 | 1078 |

---

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

*213*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500 U.S. Revenue Leaders ETF** | **Global X S&P 500 U.S. Revenue Leaders ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Cintas | 21 | $3849 |
| &nbsp;&nbsp;&nbsp;Copart \* | 52 | 2237 |
| &nbsp;&nbsp;&nbsp;CSX | 113 | 4070 |
| &nbsp;&nbsp;&nbsp;Cummins | 8 | 3501 |
| &nbsp;&nbsp;&nbsp;Dayforce \* | 9 | 619 |
| &nbsp;&nbsp;&nbsp;Deere | 15 | 6924 |
| &nbsp;&nbsp;&nbsp;Delta Air Lines | 40 | 2295 |
| &nbsp;&nbsp;&nbsp;Dover | 8 | 1452 |
| &nbsp;&nbsp;&nbsp;Eaton PLC | 23 | 8776 |
| &nbsp;&nbsp;&nbsp;Equifax | 7 | 1478 |
| &nbsp;&nbsp;&nbsp;Fastenal | 70 | 2880 |
| &nbsp;&nbsp;&nbsp;FedEx | 13 | 3300 |
| &nbsp;&nbsp;&nbsp;Fortive | 21 | 1057 |
| &nbsp;&nbsp;&nbsp;Generac Holdings \* | 4 | 672 |
| &nbsp;&nbsp;&nbsp;General Dynamics | 15 | 5173 |
| &nbsp;&nbsp;&nbsp;Honeywell International | 39 | 7852 |
| &nbsp;&nbsp;&nbsp;Hubbell, Cl B | 3 | 1410 |
| &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries | 2 | 644 |
| &nbsp;&nbsp;&nbsp;Jacobs Solutions | 7 | 1091 |
| &nbsp;&nbsp;&nbsp;JB Hunt Transport Services | 5 | 844 |
| &nbsp;&nbsp;&nbsp;Johnson Controls International | 40 | 4576 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies | 12 | 3469 |
| &nbsp;&nbsp;&nbsp;Leidos Holdings | 8 | 1524 |
| &nbsp;&nbsp;&nbsp;Lennox International | 2 | 1010 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin | 13 | 6394 |
| &nbsp;&nbsp;&nbsp;Masco | 13 | 842 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern | 14 | 3967 |
| &nbsp;&nbsp;&nbsp;Northrop Grumman | 9 | 5251 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line | 12 | 1685 |
| &nbsp;&nbsp;&nbsp;PACCAR | 32 | 3149 |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin | 8 | 6183 |
| &nbsp;&nbsp;&nbsp;Paychex | 20 | 2341 |
| &nbsp;&nbsp;&nbsp;Paycom Software | 3 | 561 |
| &nbsp;&nbsp;&nbsp;Pentair PLC | 10 | 1063 |
| &nbsp;&nbsp;&nbsp;Quanta Services | 9 | 4042 |
| &nbsp;&nbsp;&nbsp;Republic Services, Cl A | 13 | 2707 |
| &nbsp;&nbsp;&nbsp;Rockwell Automation | 7 | 2579 |
| &nbsp;&nbsp;&nbsp;Rollins | 17 | 979 |
| &nbsp;&nbsp;&nbsp;RTX | 81 | 14458 |

---

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

*214*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500 U.S. Revenue Leaders ETF** | **Global X S&P 500 U.S. Revenue Leaders ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Snap-On | 3 | $1007 |
| &nbsp;&nbsp;&nbsp;Southwest Airlines | 35 | 1060 |
| &nbsp;&nbsp;&nbsp;Stanley Black & Decker | 9 | 609 |
| &nbsp;&nbsp;&nbsp;Textron | 11 | 889 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC | 14 | 6281 |
| &nbsp;&nbsp;&nbsp;TransDigm Group | 4 | 5234 |
| &nbsp;&nbsp;&nbsp;Union Pacific | 36 | 7933 |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings \* | 20 | 1881 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Cl B | 44 | 4242 |
| &nbsp;&nbsp;&nbsp;United Rentals | 4 | 3485 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Cl A | 8 | 1750 |
| &nbsp;&nbsp;&nbsp;Waste Management | 22 | 4395 |
| &nbsp;&nbsp;&nbsp;WW Grainger | 3 | 2937 |
| &nbsp;&nbsp;&nbsp;Xylem | 15 | 2263 |
|  |  | 216976 |
| Information Technology — 28.7% |  |  |
| &nbsp;&nbsp;&nbsp;Adobe \* | 51 | 17356 |
| &nbsp;&nbsp;&nbsp;Akamai Technologies \* | 17 | 1277 |
| &nbsp;&nbsp;&nbsp;Arista Networks \* | 122 | 19238 |
| &nbsp;&nbsp;&nbsp;CDW | 15 | 2391 |
| &nbsp;&nbsp;&nbsp;Cisco Systems | 474 | 34654 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions, Cl A | 58 | 4227 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Cl A \* | 29 | 15747 |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Cl C | 36 | 5832 |
| &nbsp;&nbsp;&nbsp;EPAM Systems \* | 7 | 1145 |
| &nbsp;&nbsp;&nbsp;F5 \* | 7 | 1771 |
| &nbsp;&nbsp;&nbsp;Fair Isaac \* | 3 | 4979 |
| &nbsp;&nbsp;&nbsp;First Solar \* | 13 | 3470 |
| &nbsp;&nbsp;&nbsp;Gartner \* | 9 | 2235 |
| &nbsp;&nbsp;&nbsp;Gen Digital | 64 | 1687 |
| &nbsp;&nbsp;&nbsp;GoDaddy, Cl A \* | 17 | 2263 |
| &nbsp;&nbsp;&nbsp;Intuit | 34 | 22697 |
| &nbsp;&nbsp;&nbsp;Micron Technology | 133 | 29761 |
| &nbsp;&nbsp;&nbsp;Microsoft | 406 | 210231 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions | 20 | 8134 |
| &nbsp;&nbsp;&nbsp;Oracle | 194 | 50946 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Cl A \* | 253 | 50719 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks \* | 79 | 17399 |

---

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

*215*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500 U.S. Revenue Leaders ETF** | **Global X S&P 500 U.S. Revenue Leaders ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;Roper Technologies | 13 | $5800 |
| &nbsp;&nbsp;&nbsp;Salesforce | 114 | 29687 |
| &nbsp;&nbsp;&nbsp;ServiceNow \* | 25 | 22982 |
| &nbsp;&nbsp;&nbsp;Skyworks Solutions | 18 | 1399 |
| &nbsp;&nbsp;&nbsp;Super Micro Computer \* | 61 | 3170 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies \* | 6 | 3161 |
| &nbsp;&nbsp;&nbsp;Trimble \* | 28 | 2233 |
| &nbsp;&nbsp;&nbsp;Tyler Technologies \* | 5 | 2381 |
| &nbsp;&nbsp;&nbsp;VeriSign | 9 | 2158 |
| &nbsp;&nbsp;&nbsp;Workday, Cl A \* | 26 | 6238 |
|  |  | 587368 |
| Materials — 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings | 9 | 750 |
| &nbsp;&nbsp;&nbsp;Ecolab | 15 | 3846 |
| &nbsp;&nbsp;&nbsp;International Paper | 32 | 1237 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials | 4 | 2452 |
| &nbsp;&nbsp;&nbsp;Nucor | 14 | 2101 |
| &nbsp;&nbsp;&nbsp;Packaging Corp of America | 6 | 1175 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams | 14 | 4829 |
| &nbsp;&nbsp;&nbsp;Solstice Advanced Materials \* | 10 | 439 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics | 8 | 1254 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials | 8 | 2316 |
|  |  | 20399 |
| Real Estate — 2.9% |  |  |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities <sup>‡</sup> | 9 | 524 |
| &nbsp;&nbsp;&nbsp;American Tower <sup>‡</sup> | 28 | 5012 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities <sup>‡</sup> | 8 | 1391 |
| &nbsp;&nbsp;&nbsp;BXP <sup>‡</sup> | 9 | 641 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust <sup>‡</sup> | 7 | 696 |
| &nbsp;&nbsp;&nbsp;CBRE Group, Cl A \* | 18 | 2744 |
| &nbsp;&nbsp;&nbsp;CoStar Group \* | 26 | 1789 |
| &nbsp;&nbsp;&nbsp;Crown Castle <sup>‡</sup> | 27 | 2436 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust <sup>‡</sup> | 19 | 3238 |
| &nbsp;&nbsp;&nbsp;Equity Residential <sup>‡</sup> | 21 | 1248 |
| &nbsp;&nbsp;&nbsp;Essex Property Trust <sup>‡</sup> | 4 | 1007 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage <sup>‡</sup> | 13 | 1736 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust <sup>‡</sup> | 5 | 481 |

---

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

*216*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500 U.S. Revenue Leaders ETF** | **Global X S&P 500 U.S. Revenue Leaders ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Real Estate — continued |  |  |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties <sup>‡</sup> | 42 | $754 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts <sup>‡</sup> | 42 | 673 |
| &nbsp;&nbsp;&nbsp;Invitation Homes <sup>‡</sup> | 35 | 985 |
| &nbsp;&nbsp;&nbsp;Iron Mountain <sup>‡</sup> | 18 | 1853 |
| &nbsp;&nbsp;&nbsp;Kimco Realty <sup>‡</sup> | 42 | 868 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartment Communities <sup>‡</sup> | 7 | 898 |
| &nbsp;&nbsp;&nbsp;ProLogis <sup>‡</sup> | 56 | 6949 |
| &nbsp;&nbsp;&nbsp;Public Storage <sup>‡</sup> | 9 | 2507 |
| &nbsp;&nbsp;&nbsp;Realty Income <sup>‡</sup> | 55 | 3189 |
| &nbsp;&nbsp;&nbsp;Regency Centers <sup>‡</sup> | 9 | 621 |
| &nbsp;&nbsp;&nbsp;SBA Communications, Cl A <sup>‡</sup> | 7 | 1340 |
| &nbsp;&nbsp;&nbsp;Simon Property Group <sup>‡</sup> | 19 | 3339 |
| &nbsp;&nbsp;&nbsp;UDR <sup>‡</sup> | 19 | 640 |
| &nbsp;&nbsp;&nbsp;Ventas <sup>‡</sup> | 27 | 1992 |
| &nbsp;&nbsp;&nbsp;VICI Properties, Cl A <sup>‡</sup> | 63 | 1889 |
| &nbsp;&nbsp;&nbsp;Welltower <sup>‡</sup> | 37 | 6699 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser <sup>‡</sup> | 44 | 1012 |
|  |  | 59151 |
| Utilities — 4.0% |  |  |
| &nbsp;&nbsp;&nbsp;Alliant Energy | 15 | 1002 |
| &nbsp;&nbsp;&nbsp;Ameren | 16 | 1632 |
| &nbsp;&nbsp;&nbsp;American Electric Power | 33 | 3969 |
| &nbsp;&nbsp;&nbsp;American Water Works | 12 | 1541 |
| &nbsp;&nbsp;&nbsp;Atmos Energy | 9 | 1545 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy | 39 | 1491 |
| &nbsp;&nbsp;&nbsp;CMS Energy | 18 | 1324 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison | 22 | 2143 |
| &nbsp;&nbsp;&nbsp;Constellation Energy | 19 | 7163 |
| &nbsp;&nbsp;&nbsp;Dominion Energy | 51 | 2993 |
| &nbsp;&nbsp;&nbsp;DTE Energy | 13 | 1762 |
| &nbsp;&nbsp;&nbsp;Duke Energy | 47 | 5842 |
| &nbsp;&nbsp;&nbsp;Edison International | 23 | 1274 |
| &nbsp;&nbsp;&nbsp;Entergy | 27 | 2594 |
| &nbsp;&nbsp;&nbsp;Evergy | 14 | 1075 |
| &nbsp;&nbsp;&nbsp;Eversource Energy | 22 | 1624 |
| &nbsp;&nbsp;&nbsp;Exelon | 60 | 2767 |
| &nbsp;&nbsp;&nbsp;FirstEnergy | 30 | 1375 |
| &nbsp;&nbsp;&nbsp;NextEra Energy | 125 | 10175 |

---

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

*217*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500 U.S. Revenue Leaders ETF** | **Global X S&P 500 U.S. Revenue Leaders ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Utilities — continued |  |  |
| &nbsp;&nbsp;&nbsp;NiSource | 28 | $1179 |
| &nbsp;&nbsp;&nbsp;NRG Energy | 12 | 2062 |
| &nbsp;&nbsp;&nbsp;PG&E | 133 | 2123 |
| &nbsp;&nbsp;&nbsp;Pinnacle West Capital | 7 | 620 |
| &nbsp;&nbsp;&nbsp;PPL | 44 | 1607 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group | 30 | 2417 |
| &nbsp;&nbsp;&nbsp;Sempra | 40 | 3678 |
| &nbsp;&nbsp;&nbsp;Southern | 66 | 6207 |
| &nbsp;&nbsp;&nbsp;Vistra | 21 | 3954 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group | 20 | 2235 |
| &nbsp;&nbsp;&nbsp;Xcel Energy | 35 | 2841 |
|  |  | 82214 |
| TOTAL UNITED STATES |  | 2045186 |
| TOTAL COMMON STOCK<br> (Cost $1,928,925) |  | 2045186 |
| TOTAL INVESTMENTS — 99.9%<br> (Cost $1,928,925) |  | $2045186 |

---

*Percentages are based on Net Assets of $2,046,491.*

*\** *Non-income producing security.* <br> *‡* *Real Estate Investment Trust*

*As of October 31, 2025, 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.*

*See "Glossary" for abbreviations.*

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

*218*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Christian Values ETF** | **Global X S&P 500<sup>®</sup> Christian Values ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 99.9%** |  |  |
| **NETHERLANDS — 0.1%** |  |  |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors | 11 | $2300 |
| **SWITZERLAND — 0.1%** |  |  |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;TE Connectivity PLC | 12 | 2964 |
| **UNITED STATES — 99.7%** |  |  |
| Communication Services — 10.1% |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl A | 249 | 70016 |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl C | 201 | 56646 |
| &nbsp;&nbsp;&nbsp;AT&T | 309 | 7648 |
| &nbsp;&nbsp;&nbsp;Charter Communications, Cl A \* | 3 | 702 |
| &nbsp;&nbsp;&nbsp;Comcast, Cl A | 159 | 4426 |
| &nbsp;&nbsp;&nbsp;Fox, Cl A | 9 | 582 |
| &nbsp;&nbsp;&nbsp;Fox, Cl B | 6 | 350 |
| &nbsp;&nbsp;&nbsp;Interpublic Group | 15 | 385 |
| &nbsp;&nbsp;&nbsp;Live Nation Entertainment \* | 6 | 897 |
| &nbsp;&nbsp;&nbsp;Match Group | 9 | 291 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 93 | 60297 |
| &nbsp;&nbsp;&nbsp;Netflix \* | 18 | 20139 |
| &nbsp;&nbsp;&nbsp;News, Cl A | 15 | 397 |
| &nbsp;&nbsp;&nbsp;News, Cl B | 6 | 183 |
| &nbsp;&nbsp;&nbsp;Omnicom Group | 9 | 675 |
| &nbsp;&nbsp;&nbsp;Paramount Skydance Corp, Cl B | 12 | 185 |
| &nbsp;&nbsp;&nbsp;TKO Group Holdings, Cl A | 3 | 565 |
| &nbsp;&nbsp;&nbsp;T-Mobile US | 21 | 4411 |
| &nbsp;&nbsp;&nbsp;Trade Desk, Cl A \* | 18 | 905 |
| &nbsp;&nbsp;&nbsp;Verizon Communications | 180 | 7153 |
| &nbsp;&nbsp;&nbsp;Walt Disney | 77 | 8672 |
| &nbsp;&nbsp;&nbsp;Warner Bros Discovery \* | 108 | 2425 |
|  |  | 247950 |
| Consumer Discretionary — 10.6% |  |  |
| &nbsp;&nbsp;&nbsp;Airbnb, Cl A \* | 18 | 2278 |
| &nbsp;&nbsp;&nbsp;Amazon.com \* | 414 | 101107 |
| &nbsp;&nbsp;&nbsp;APTIV PLC \* | 9 | 730 |
| &nbsp;&nbsp;&nbsp;AutoZone \* | 1 | 3674 |

---

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

*219*

![](logom4.jpg)

---

| | |
|:---|:---|
| Schedule of Investments | October 31, 2025 |
| **Global X S&P 500<sup>®</sup> Christian Values ETF** | **Global X S&P 500<sup>®</sup> Christian Values ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;Best Buy | 9 | $739 |
| &nbsp;&nbsp;&nbsp;Booking Holdings | 1 | 5078 |
| &nbsp;&nbsp;&nbsp;CarMax \* | 6 | 251 |
| &nbsp;&nbsp;&nbsp;Carnival \* | 45 | 1297 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Cl A \* | 57 | 1806 |
| &nbsp;&nbsp;&nbsp;Darden Restaurants | 5 | 901 |
| &nbsp;&nbsp;&nbsp;Deckers Outdoor \* | 6 | 489 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza | 1 | 398 |
| &nbsp;&nbsp;&nbsp;DoorDash, Cl A \* | 15 | 3816 |
| &nbsp;&nbsp;&nbsp;DR Horton | 12 | 1789 |
| &nbsp;&nbsp;&nbsp;eBay | 20 | 1626 |
| &nbsp;&nbsp;&nbsp;Expedia Group | 5 | 1100 |
| &nbsp;&nbsp;&nbsp;Ford Motor | 168 | 2206 |
| &nbsp;&nbsp;&nbsp;Garmin | 6 | 1284 |
| &nbsp;&nbsp;&nbsp;General Motors | 42 | 2902 |
| &nbsp;&nbsp;&nbsp;Genuine Parts | 6 | 764 |
| &nbsp;&nbsp;&nbsp;Hasbro | 6 | 458 |
| &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings | 9 | 2313 |
| &nbsp;&nbsp;&nbsp;Home Depot | 42 | 15943 |
| &nbsp;&nbsp;&nbsp;Lennar, Cl A | 9 | 1114 |
| &nbsp;&nbsp;&nbsp;LKQ | 12 | 383 |
| &nbsp;&nbsp;&nbsp;Lowe's | 24 | 5715 |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica \* | 5 | 853 |
| &nbsp;&nbsp;&nbsp;Marriott International, Cl A | 9 | 2345 |
| &nbsp;&nbsp;&nbsp;McDonald's | 30 | 8953 |
| &nbsp;&nbsp;&nbsp;Mohawk Industries \* | 3 | 341 |
| &nbsp;&nbsp;&nbsp;NIKE, Cl B | 51 | 3294 |
| &nbsp;&nbsp;&nbsp;Norwegian Cruise Line Holdings \* | 18 | 404 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive \* | 36 | 3400 |
| &nbsp;&nbsp;&nbsp;Pool | 1 | 267 |
| &nbsp;&nbsp;&nbsp;PulteGroup | 9 | 1079 |
| &nbsp;&nbsp;&nbsp;Ralph Lauren, Cl A | 2 | 639 |
| &nbsp;&nbsp;&nbsp;Ross Stores | 14 | 2225 |
| &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises | 11 | 3155 |
| &nbsp;&nbsp;&nbsp;Starbucks | 48 | 3882 |
| &nbsp;&nbsp;&nbsp;Tapestry | 9 | 988 |
| &nbsp;&nbsp;&nbsp;Tesla \* | 120 | 54787 |
| &nbsp;&nbsp;&nbsp;TJX | 48 | 6727 |
| &nbsp;&nbsp;&nbsp;Tractor Supply | 24 | 1299 |

---

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

*220*

![](logom4.jpg)

---

| | |
|:---|:---|
| Schedule of Investments | October 31, 2025 |
| **Global X S&P 500<sup>®</sup> Christian Values ETF** | **Global X S&P 500<sup>®</sup> Christian Values ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;Ulta Beauty \* | 2 | $1040 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma | 6 | 1166 |
| &nbsp;&nbsp;&nbsp;Yum! Brands | 12 | 1658 |
|  |  | 258663 |
| Consumer Staples — 4.8% |  |  |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland | 24 | 1453 |
| &nbsp;&nbsp;&nbsp;Bunge Global | 6 | 568 |
| &nbsp;&nbsp;&nbsp;Church & Dwight | 12 | 1052 |
| &nbsp;&nbsp;&nbsp;Clorox | 6 | 675 |
| &nbsp;&nbsp;&nbsp;Coca-Cola | 195 | 13435 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive | 42 | 3236 |
| &nbsp;&nbsp;&nbsp;Conagra Brands | 24 | 413 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale | 22 | 20052 |
| &nbsp;&nbsp;&nbsp;Dollar General | 11 | 1085 |
| &nbsp;&nbsp;&nbsp;Dollar Tree \* | 9 | 892 |
| &nbsp;&nbsp;&nbsp;Estee Lauder, Cl A | 12 | 1160 |
| &nbsp;&nbsp;&nbsp;General Mills | 27 | 1258 |
| &nbsp;&nbsp;&nbsp;Hershey | 6 | 1018 |
| &nbsp;&nbsp;&nbsp;Hormel Foods | 15 | 324 |
| &nbsp;&nbsp;&nbsp;J M Smucker | 6 | 621 |
| &nbsp;&nbsp;&nbsp;Kellanova | 15 | 1246 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper | 69 | 1874 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark | 17 | 2035 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz | 42 | 1039 |
| &nbsp;&nbsp;&nbsp;Kroger | 30 | 1909 |
| &nbsp;&nbsp;&nbsp;Lamb Weston Holdings | 6 | 370 |
| &nbsp;&nbsp;&nbsp;McCormick | 12 | 770 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Cl A | 66 | 3792 |
| &nbsp;&nbsp;&nbsp;Monster Beverage \* | 36 | 2406 |
| &nbsp;&nbsp;&nbsp;PepsiCo | 69 | 10080 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble | 117 | 17593 |
| &nbsp;&nbsp;&nbsp;Sysco | 24 | 1783 |
| &nbsp;&nbsp;&nbsp;Target | 23 | 2133 |
| &nbsp;&nbsp;&nbsp;The Campbell's Company | 9 | 271 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Cl A | 15 | 771 |
| &nbsp;&nbsp;&nbsp;Walmart | 221 | 22361 |
|  |  | 117675 |

---

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

*221*

![](logom4.jpg)

---

| | |
|:---|:---|
| Schedule of Investments | October 31, 2025 |
| **Global X S&P 500<sup>®</sup> Christian Values ETF** | **Global X S&P 500<sup>®</sup> Christian Values ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Energy — 2.8% |  |  |
| &nbsp;&nbsp;APA | 15 | $340 |
| &nbsp;&nbsp;Baker Hughes, Cl A | 42 | 2033 |
| &nbsp;&nbsp;Chevron | 81 | 12775 |
| &nbsp;&nbsp;ConocoPhillips | 53 | 4710 |
| &nbsp;&nbsp;Coterra Energy | 33 | 781 |
| &nbsp;&nbsp;Devon Energy | 27 | 877 |
| &nbsp;&nbsp;Diamondback Energy | 8 | 1145 |
| &nbsp;&nbsp;EOG Resources | 23 | 2434 |
| &nbsp;&nbsp;EQT | 27 | 1447 |
| &nbsp;&nbsp;Expand Energy | 9 | 930 |
| &nbsp;&nbsp;Exxon Mobil | 180 | 20585 |
| &nbsp;&nbsp;Halliburton | 36 | 966 |
| &nbsp;&nbsp;Kinder Morgan | 84 | 2200 |
| &nbsp;&nbsp;Marathon Petroleum | 12 | 2339 |
| &nbsp;&nbsp;Occidental Petroleum | 30 | 1236 |
| &nbsp;&nbsp;ONEOK | 27 | 1809 |
| &nbsp;&nbsp;Phillips 66 | 18 | 2451 |
| &nbsp;&nbsp;SLB LTD | 63 | 2272 |
| &nbsp;&nbsp;Targa Resources | 9 | 1386 |
| &nbsp;&nbsp;Valero Energy | 12 | 2035 |
| &nbsp;&nbsp;Williams | 51 | 2951 |
|  |  | 67702 |
| Financials — 12.7% |  |  |
| &nbsp;&nbsp;Aflac | 21 | 2251 |
| &nbsp;&nbsp;Allstate | 12 | 2298 |
| &nbsp;&nbsp;American Express | 24 | 8657 |
| &nbsp;&nbsp;American International Group | 24 | 1895 |
| &nbsp;&nbsp;Ameriprise Financial | 4 | 1811 |
| &nbsp;&nbsp;Aon PLC, Cl A | 9 | 3066 |
| &nbsp;&nbsp;Apollo Global Management | 20 | 2486 |
| &nbsp;&nbsp;Arch Capital Group | 15 | 1295 |
| &nbsp;&nbsp;Arthur J Gallagher | 12 | 2994 |
| &nbsp;&nbsp;Assurant | 3 | 635 |
| &nbsp;&nbsp;Bank of America | 297 | 15875 |
| &nbsp;&nbsp;Bank of New York Mellon | 30 | 3238 |
| &nbsp;&nbsp;Berkshire Hathaway, Cl B \* | 80 | 38203 |
| &nbsp;&nbsp;BlackRock Funding | 6 | 6497 |
| &nbsp;&nbsp;Blackstone | 32 | 4692 |

---

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

*222*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Christian Values ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;Block, Cl A \* | 24 | $1823 |
| &nbsp;&nbsp;Brown & Brown | 12 | 957 |
| &nbsp;&nbsp;Capital One Financial | 27 | 5940 |
| &nbsp;&nbsp;Cboe Global Markets | 5 | 1228 |
| &nbsp;&nbsp;Charles Schwab | 74 | 6994 |
| &nbsp;&nbsp;Chubb | 15 | 4154 |
| &nbsp;&nbsp;Cincinnati Financial | 6 | 927 |
| &nbsp;&nbsp;Citigroup | 80 | 8098 |
| &nbsp;&nbsp;Citizens Financial Group | 18 | 916 |
| &nbsp;&nbsp;CME Group, Cl A | 15 | 3982 |
| &nbsp;&nbsp;Coinbase Global, Cl A \* | 9 | 3094 |
| &nbsp;&nbsp;Corpay \* | 3 | 781 |
| &nbsp;&nbsp;Erie Indemnity, Cl A | 1 | 293 |
| &nbsp;&nbsp;Everest Group | 2 | 629 |
| &nbsp;&nbsp;FactSet Research Systems | 2 | 534 |
| &nbsp;&nbsp;Fidelity National Information Services | 24 | 1500 |
| &nbsp;&nbsp;Fifth Third Bancorp | 30 | 1249 |
| &nbsp;&nbsp;Fiserv \* | 24 | 1601 |
| &nbsp;&nbsp;Franklin Resources | 12 | 271 |
| &nbsp;&nbsp;Global Payments | 12 | 933 |
| &nbsp;&nbsp;Globe Life | 3 | 394 |
| &nbsp;&nbsp;Goldman Sachs Group | 13 | 10262 |
| &nbsp;&nbsp;Hartford Financial Services Group | 12 | 1490 |
| &nbsp;&nbsp;Huntington Bancshares | 63 | 973 |
| &nbsp;&nbsp;Interactive Brokers Group, Cl A | 18 | 1266 |
| &nbsp;&nbsp;Intercontinental Exchange | 24 | 3511 |
| &nbsp;&nbsp;Invesco | 18 | 427 |
| &nbsp;&nbsp;Jack Henry & Associates | 3 | 447 |
| &nbsp;&nbsp;JPMorgan Chase | 120 | 37334 |
| &nbsp;&nbsp;KeyCorp | 42 | 739 |
| &nbsp;&nbsp;KKR | 30 | 3550 |
| &nbsp;&nbsp;Loews | 6 | 597 |
| &nbsp;&nbsp;M&T Bank | 6 | 1103 |
| &nbsp;&nbsp;Marsh & McLennan | 21 | 3741 |
| &nbsp;&nbsp;Mastercard, Cl A | 36 | 19872 |
| &nbsp;&nbsp;MetLife | 24 | 1916 |
| &nbsp;&nbsp;Moody's | 6 | 2882 |
| &nbsp;&nbsp;Morgan Stanley | 53 | 8692 |
| &nbsp;&nbsp;MSCI, Cl A | 3 | 1766 |

---

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

*223*

![](logom4.jpg)

---

| | |
|:---|:---|
| Schedule of Investments | October 31, 2025 |
| **Global X S&P 500<sup>®</sup> Christian Values ETF** | **Global X S&P 500<sup>®</sup> Christian Values ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Nasdaq | 20 | $1710 |
| &nbsp;&nbsp;&nbsp;Northern Trust | 9 | 1158 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings \* | 42 | 2909 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group | 18 | 3286 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group | 9 | 756 |
| &nbsp;&nbsp;&nbsp;Progressive | 26 | 5356 |
| &nbsp;&nbsp;&nbsp;Prudential Financial | 15 | 1560 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial | 8 | 1269 |
| &nbsp;&nbsp;&nbsp;Regions Financial | 39 | 944 |
| &nbsp;&nbsp;&nbsp;Robinhood Markets, Cl A \* | 33 | 4844 |
| &nbsp;&nbsp;&nbsp;S&P Global | 14 | 6821 |
| &nbsp;&nbsp;&nbsp;State Street | 12 | 1388 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | 15 | 1116 |
| &nbsp;&nbsp;&nbsp;T Rowe Price Group | 9 | 923 |
| &nbsp;&nbsp;&nbsp;Travelers | 9 | 2418 |
| &nbsp;&nbsp;&nbsp;Truist Financial | 57 | 2544 |
| &nbsp;&nbsp;&nbsp;US Bancorp | 69 | 3221 |
| &nbsp;&nbsp;&nbsp;Visa, Cl A | 74 | 25215 |
| &nbsp;&nbsp;&nbsp;W R Berkley | 12 | 856 |
| &nbsp;&nbsp;&nbsp;Willis Towers Watson PLC | 4 | 1252 |
|  |  | 312305 |
| Health Care — 8.7% |  |  |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 123 | 15205 |
| &nbsp;&nbsp;&nbsp;AbbVie | 125 | 27255 |
| &nbsp;&nbsp;&nbsp;Agilent Technologies | 20 | 2927 |
| &nbsp;&nbsp;&nbsp;Align Technology \* | 5 | 689 |
| &nbsp;&nbsp;&nbsp;Amgen | 38 | 11340 |
| &nbsp;&nbsp;&nbsp;Baxter International | 36 | 665 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson | 21 | 3753 |
| &nbsp;&nbsp;&nbsp;Biogen \* | 9 | 1388 |
| &nbsp;&nbsp;&nbsp;Bio-Techne | 12 | 751 |
| &nbsp;&nbsp;&nbsp;Boston Scientific \* | 105 | 10576 |
| &nbsp;&nbsp;&nbsp;Cardinal Health | 17 | 3243 |
| &nbsp;&nbsp;&nbsp;Cencora | 14 | 4729 |
| &nbsp;&nbsp;&nbsp;Charles River Laboratories International \* | 3 | 540 |
| &nbsp;&nbsp;&nbsp;Cigna Group | 18 | 4399 |
| &nbsp;&nbsp;&nbsp;Cooper \* | 15 | 1049 |
| &nbsp;&nbsp;&nbsp;CVS Health | 90 | 7034 |

---

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

*224*

![](logom4.jpg)

---

| | |
|:---|:---|
| Schedule of Investments | October 31, 2025 |
| **Global X S&P 500<sup>®</sup> Christian Values ETF** | **Global X S&P 500<sup>®</sup> Christian Values ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Danaher | 45 | $9692 |
| &nbsp;&nbsp;&nbsp;DaVita \* | 3 | 357 |
| &nbsp;&nbsp;&nbsp;Dexcom \* | 27 | 1572 |
| &nbsp;&nbsp;&nbsp;Edwards Lifesciences \* | 42 | 3463 |
| &nbsp;&nbsp;&nbsp;Elevance Health | 15 | 4758 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies | 33 | 2473 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences | 87 | 10422 |
| &nbsp;&nbsp;&nbsp;Henry Schein \* | 6 | 379 |
| &nbsp;&nbsp;&nbsp;Hologic \* | 15 | 1109 |
| &nbsp;&nbsp;&nbsp;Humana | 9 | 2504 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories \* | 6 | 3777 |
| &nbsp;&nbsp;&nbsp;Incyte \* | 12 | 1122 |
| &nbsp;&nbsp;&nbsp;Insulet \* | 5 | 1565 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical \* | 25 | 13357 |
| &nbsp;&nbsp;&nbsp;IQVIA Holdings \* | 12 | 2598 |
| &nbsp;&nbsp;&nbsp;Labcorp Holdings | 6 | 1524 |
| &nbsp;&nbsp;&nbsp;McKesson | 9 | 7302 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | 90 | 8163 |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International \* | 1 | 1416 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare \* | 3 | 459 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics | 8 | 1408 |
| &nbsp;&nbsp;&nbsp;ResMed | 10 | 2469 |
| &nbsp;&nbsp;&nbsp;Revvity | 9 | 842 |
| &nbsp;&nbsp;&nbsp;Solventum \* | 9 | 621 |
| &nbsp;&nbsp;&nbsp;STERIS PLC | 6 | 1414 |
| &nbsp;&nbsp;&nbsp;Stryker | 24 | 8550 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific | 27 | 15320 |
| &nbsp;&nbsp;&nbsp;Viatris | 84 | 870 |
| &nbsp;&nbsp;&nbsp;Waters \* | 3 | 1049 |
| &nbsp;&nbsp;&nbsp;West Pharmaceutical Services | 6 | 1692 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings | 14 | 1408 |
| &nbsp;&nbsp;&nbsp;Zoetis, Cl A | 30 | 4323 |
|  |  | 213521 |
| Industrials — 8.1% |  |  |
| &nbsp;&nbsp;&nbsp;3M | 24 | 3996 |
| &nbsp;&nbsp;&nbsp;A O Smith | 6 | 396 |
| &nbsp;&nbsp;&nbsp;Allegion PLC | 3 | 497 |
| &nbsp;&nbsp;&nbsp;AMETEK | 11 | 2223 |

---

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

*225*

![](logom4.jpg)

---

| | |
|:---|:---|
| Schedule of Investments | October 31, 2025 |
| **Global X S&P 500<sup>®</sup> Christian Values ETF** | **Global X S&P 500<sup>®</sup> Christian Values ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing | 18 | $4685 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise \* | 3 | 2197 |
| &nbsp;&nbsp;&nbsp;Boeing \* | 36 | 7237 |
| &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions | 6 | 1322 |
| &nbsp;&nbsp;&nbsp;Builders FirstSource \* | 6 | 697 |
| &nbsp;&nbsp;&nbsp;Carrier Global | 39 | 2320 |
| &nbsp;&nbsp;&nbsp;Caterpillar | 22 | 12700 |
| &nbsp;&nbsp;&nbsp;CH Robinson Worldwide | 6 | 924 |
| &nbsp;&nbsp;&nbsp;Cintas | 15 | 2749 |
| &nbsp;&nbsp;&nbsp;Copart \* | 42 | 1806 |
| &nbsp;&nbsp;&nbsp;CSX | 87 | 3134 |
| &nbsp;&nbsp;&nbsp;Cummins | 6 | 2626 |
| &nbsp;&nbsp;&nbsp;Dayforce \* | 9 | 619 |
| &nbsp;&nbsp;&nbsp;Deere | 12 | 5540 |
| &nbsp;&nbsp;&nbsp;Delta Air Lines | 30 | 1721 |
| &nbsp;&nbsp;&nbsp;Dover | 6 | 1089 |
| &nbsp;&nbsp;&nbsp;Eaton PLC | 18 | 6868 |
| &nbsp;&nbsp;&nbsp;EMCOR Group | 3 | 2027 |
| &nbsp;&nbsp;&nbsp;Emerson Electric | 27 | 3768 |
| &nbsp;&nbsp;&nbsp;Equifax | 6 | 1267 |
| &nbsp;&nbsp;&nbsp;Expeditors International of Washington | 6 | 731 |
| &nbsp;&nbsp;&nbsp;Fastenal | 54 | 2222 |
| &nbsp;&nbsp;&nbsp;FedEx | 9 | 2284 |
| &nbsp;&nbsp;&nbsp;Fortive | 15 | 755 |
| &nbsp;&nbsp;&nbsp;GE Aerospace | 51 | 15756 |
| &nbsp;&nbsp;&nbsp;GE Vernova | 12 | 7022 |
| &nbsp;&nbsp;&nbsp;Generac Holdings \* | 3 | 504 |
| &nbsp;&nbsp;&nbsp;Honeywell International | 30 | 6040 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace | 18 | 3707 |
| &nbsp;&nbsp;&nbsp;Hubbell, Cl B | 3 | 1410 |
| &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries | 2 | 644 |
| &nbsp;&nbsp;&nbsp;IDEX | 3 | 514 |
| &nbsp;&nbsp;&nbsp;Illinois Tool Works | 12 | 2927 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand | 18 | 1374 |
| &nbsp;&nbsp;&nbsp;Jacobs Solutions | 6 | 935 |
| &nbsp;&nbsp;&nbsp;JB Hunt Transport Services | 3 | 507 |
| &nbsp;&nbsp;&nbsp;Johnson Controls International | 30 | 3432 |
| &nbsp;&nbsp;&nbsp;Leidos Holdings | 6 | 1143 |
| &nbsp;&nbsp;&nbsp;Lennox International | 2 | 1010 |

---

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

*226*

![](logom4.jpg)

---

| | |
|:---|:---|
| Schedule of Investments | October 31, 2025 |
| **Global X S&P 500<sup>®</sup> Christian Values ETF** | **Global X S&P 500<sup>®</sup> Christian Values ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Masco | 9 | $583 |
| &nbsp;&nbsp;&nbsp;Nordson | 3 | 696 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern | 11 | 3117 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line | 9 | 1264 |
| &nbsp;&nbsp;&nbsp;Otis Worldwide | 18 | 1670 |
| &nbsp;&nbsp;&nbsp;PACCAR | 24 | 2362 |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin | 6 | 4637 |
| &nbsp;&nbsp;&nbsp;Paychex | 15 | 1755 |
| &nbsp;&nbsp;&nbsp;Paycom Software | 3 | 561 |
| &nbsp;&nbsp;&nbsp;Pentair PLC | 8 | 851 |
| &nbsp;&nbsp;&nbsp;Quanta Services | 7 | 3144 |
| &nbsp;&nbsp;&nbsp;Republic Services, Cl A | 9 | 1874 |
| &nbsp;&nbsp;&nbsp;Rockwell Automation | 6 | 2210 |
| &nbsp;&nbsp;&nbsp;Rollins | 12 | 691 |
| &nbsp;&nbsp;&nbsp;Snap-On | 3 | 1007 |
| &nbsp;&nbsp;&nbsp;Southwest Airlines | 24 | 727 |
| &nbsp;&nbsp;&nbsp;Stanley Black & Decker | 6 | 406 |
| &nbsp;&nbsp;&nbsp;Textron | 9 | 727 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC | 11 | 4935 |
| &nbsp;&nbsp;&nbsp;TransDigm Group | 3 | 3926 |
| &nbsp;&nbsp;&nbsp;Uber Technologies \* | 99 | 9554 |
| &nbsp;&nbsp;&nbsp;Union Pacific | 27 | 5950 |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings \* | 15 | 1411 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Cl B | 36 | 3471 |
| &nbsp;&nbsp;&nbsp;United Rentals | 3 | 2614 |
| &nbsp;&nbsp;&nbsp;Veralto | 12 | 1184 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Cl A | 6 | 1313 |
| &nbsp;&nbsp;&nbsp;Wabtec | 9 | 1840 |
| &nbsp;&nbsp;&nbsp;Waste Management | 18 | 3596 |
| &nbsp;&nbsp;&nbsp;WW Grainger | 3 | 2937 |
| &nbsp;&nbsp;&nbsp;Xylem | 12 | 1810 |
|  |  | 198148 |
| Information Technology — 36.0% |  |  |
| &nbsp;&nbsp;&nbsp;Accenture PLC, Cl A | 27 | 6753 |
| &nbsp;&nbsp;&nbsp;Adobe \* | 18 | 6126 |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices \* | 69 | 17672 |
| &nbsp;&nbsp;&nbsp;Akamai Technologies \* | 6 | 451 |
| &nbsp;&nbsp;&nbsp;Amphenol, Cl A | 51 | 7106 |

---

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

*227*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Christian Values ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;Analog Devices | 21 | $4917 |
| &nbsp;&nbsp;&nbsp;Apple | 624 | 168711 |
| &nbsp;&nbsp;&nbsp;Applied Materials | 33 | 7692 |
| &nbsp;&nbsp;&nbsp;AppLovin, Cl A \* | 12 | 7648 |
| &nbsp;&nbsp;&nbsp;Arista Networks \* | 42 | 6623 |
| &nbsp;&nbsp;&nbsp;Autodesk \* | 9 | 2712 |
| &nbsp;&nbsp;&nbsp;Broadcom | 198 | 73187 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems \* | 12 | 4064 |
| &nbsp;&nbsp;&nbsp;CDW | 6 | 956 |
| &nbsp;&nbsp;&nbsp;Cisco Systems | 168 | 12282 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions, Cl A | 21 | 1530 |
| &nbsp;&nbsp;&nbsp;Corning | 33 | 2940 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Cl A \* | 11 | 5973 |
| &nbsp;&nbsp;&nbsp;Datadog, Cl A \* | 14 | 2279 |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Cl C | 12 | 1944 |
| &nbsp;&nbsp;&nbsp;EPAM Systems \* | 3 | 491 |
| &nbsp;&nbsp;&nbsp;F5 \* | 3 | 759 |
| &nbsp;&nbsp;&nbsp;Fair Isaac \* | 1 | 1660 |
| &nbsp;&nbsp;&nbsp;First Solar \* | 5 | 1335 |
| &nbsp;&nbsp;&nbsp;Fortinet \* | 27 | 2334 |
| &nbsp;&nbsp;&nbsp;Gartner \* | 3 | 745 |
| &nbsp;&nbsp;&nbsp;Gen Digital | 24 | 633 |
| &nbsp;&nbsp;&nbsp;GoDaddy, Cl A \* | 6 | 799 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise | 54 | 1319 |
| &nbsp;&nbsp;&nbsp;HP | 39 | 1079 |
| &nbsp;&nbsp;&nbsp;Intel \* | 186 | 7438 |
| &nbsp;&nbsp;&nbsp;International Business Machines | 39 | 11989 |
| &nbsp;&nbsp;&nbsp;Intuit | 12 | 8011 |
| &nbsp;&nbsp;&nbsp;Jabil | 5 | 1104 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies \* | 6 | 1098 |
| &nbsp;&nbsp;&nbsp;KLA | 6 | 7252 |
| &nbsp;&nbsp;&nbsp;Lam Research | 54 | 8503 |
| &nbsp;&nbsp;&nbsp;Microchip Technology | 24 | 1498 |
| &nbsp;&nbsp;&nbsp;Micron Technology | 47 | 10517 |
| &nbsp;&nbsp;&nbsp;Microsoft | 312 | 161557 |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems | 3 | 3015 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions | 6 | 2440 |
| &nbsp;&nbsp;&nbsp;NetApp | 9 | 1060 |
| &nbsp;&nbsp;&nbsp;NVIDIA | 1025 | 207552 |

---

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

*228*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Christian Values ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;ON Semiconductor \* | 18 | $901 |
| &nbsp;&nbsp;&nbsp;Oracle | 69 | 18120 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Cl A \* | 96 | 19245 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks \* | 27 | 5946 |
| &nbsp;&nbsp;&nbsp;PTC \* | 5 | 993 |
| &nbsp;&nbsp;&nbsp;QUALCOMM | 45 | 8140 |
| &nbsp;&nbsp;&nbsp;Roper Technologies | 5 | 2231 |
| &nbsp;&nbsp;&nbsp;Salesforce | 39 | 10156 |
| &nbsp;&nbsp;&nbsp;Seagate Technology Holdings | 9 | 2303 |
| &nbsp;&nbsp;&nbsp;ServiceNow \* | 9 | 8273 |
| &nbsp;&nbsp;&nbsp;Skyworks Solutions | 6 | 466 |
| &nbsp;&nbsp;&nbsp;Super Micro Computer \* | 21 | 1091 |
| &nbsp;&nbsp;&nbsp;Synopsys \* | 8 | 3631 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies \* | 2 | 1054 |
| &nbsp;&nbsp;&nbsp;Teradyne | 6 | 1091 |
| &nbsp;&nbsp;&nbsp;Texas Instruments | 39 | 6297 |
| &nbsp;&nbsp;&nbsp;Trimble \* | 9 | 718 |
| &nbsp;&nbsp;&nbsp;Tyler Technologies \* | 2 | 953 |
| &nbsp;&nbsp;&nbsp;VeriSign | 3 | 719 |
| &nbsp;&nbsp;&nbsp;Western Digital | 15 | 2253 |
| &nbsp;&nbsp;&nbsp;Workday, Cl A \* | 9 | 2159 |
| &nbsp;&nbsp;&nbsp;Zebra Technologies, Cl A \* | 3 | 808 |
|  |  | 883302 |
| Materials — 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;Air Products & Chemicals | 9 | 2183 |
| &nbsp;&nbsp;&nbsp;Albemarle | 6 | 589 |
| &nbsp;&nbsp;&nbsp;Amcor PLC | 99 | 782 |
| &nbsp;&nbsp;&nbsp;Avery Dennison | 3 | 525 |
| &nbsp;&nbsp;&nbsp;Ball | 12 | 564 |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings | 6 | 500 |
| &nbsp;&nbsp;&nbsp;Corteva | 30 | 1843 |
| &nbsp;&nbsp;&nbsp;Dow | 30 | 716 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours | 18 | 1470 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical | 6 | 357 |
| &nbsp;&nbsp;&nbsp;Ecolab | 11 | 2820 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan | 60 | 2502 |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances | 12 | 756 |
| &nbsp;&nbsp;&nbsp;International Paper | 21 | 811 |

---

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

*229*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Christian Values ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Materials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Linde PLC | 20 | $8366 |
| &nbsp;&nbsp;&nbsp;LyondellBasell Industries, Cl A | 12 | 557 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials | 3 | 1839 |
| &nbsp;&nbsp;&nbsp;Mosaic | 12 | 329 |
| &nbsp;&nbsp;&nbsp;Newmont | 47 | 3806 |
| &nbsp;&nbsp;&nbsp;Nucor | 9 | 1351 |
| &nbsp;&nbsp;&nbsp;Packaging Corp of America | 3 | 587 |
| &nbsp;&nbsp;&nbsp;PPG Industries | 9 | 880 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams | 9 | 3105 |
| &nbsp;&nbsp;&nbsp;Smurfit WestRock PLC | 21 | 775 |
| &nbsp;&nbsp;&nbsp;Solstice Advanced Materials \* | 8 | 338 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics | 6 | 941 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials | 6 | 1737 |
|  |  | 41029 |
| Real Estate — 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;American Tower <sup>‡</sup> | 21 | 3759 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities <sup>‡</sup> | 6 | 1044 |
| &nbsp;&nbsp;&nbsp;BXP <sup>‡</sup> | 6 | 427 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust <sup>‡</sup> | 5 | 497 |
| &nbsp;&nbsp;&nbsp;CBRE Group, Cl A \* | 14 | 2134 |
| &nbsp;&nbsp;&nbsp;CoStar Group \* | 21 | 1445 |
| &nbsp;&nbsp;&nbsp;Crown Castle <sup>‡</sup> | 20 | 1804 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust <sup>‡</sup> | 15 | 2556 |
| &nbsp;&nbsp;&nbsp;Equinix <sup>‡</sup> | 5 | 4230 |
| &nbsp;&nbsp;&nbsp;Equity Residential <sup>‡</sup> | 15 | 892 |
| &nbsp;&nbsp;&nbsp;Essex Property Trust <sup>‡</sup> | 3 | 755 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage <sup>‡</sup> | 9 | 1202 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust <sup>‡</sup> | 3 | 289 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts <sup>‡</sup> | 30 | 481 |
| &nbsp;&nbsp;&nbsp;Invitation Homes <sup>‡</sup> | 27 | 760 |
| &nbsp;&nbsp;&nbsp;Iron Mountain <sup>‡</sup> | 14 | 1441 |
| &nbsp;&nbsp;&nbsp;Kimco Realty <sup>‡</sup> | 30 | 620 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartment Communities <sup>‡</sup> | 6 | 769 |
| &nbsp;&nbsp;&nbsp;ProLogis <sup>‡</sup> | 42 | 5212 |
| &nbsp;&nbsp;&nbsp;Public Storage <sup>‡</sup> | 7 | 1950 |
| &nbsp;&nbsp;&nbsp;Realty Income <sup>‡</sup> | 42 | 2435 |
| &nbsp;&nbsp;&nbsp;Regency Centers <sup>‡</sup> | 9 | 621 |
| &nbsp;&nbsp;&nbsp;SBA Communications, Cl A <sup>‡</sup> | 5 | 957 |

---

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

*230*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Christian Values ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Real Estate — continued |  |  |
| &nbsp;&nbsp;&nbsp;Simon Property Group <sup>‡</sup> | 15 | $2636 |
| &nbsp;&nbsp;&nbsp;UDR <sup>‡</sup> | 15 | 505 |
| &nbsp;&nbsp;&nbsp;Welltower <sup>‡</sup> | 30 | 5431 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser <sup>‡</sup> | 33 | 759 |
|  |  | 45611 |
| Utilities — 2.3% |  |  |
| &nbsp;&nbsp;&nbsp;AES | 30 | 416 |
| &nbsp;&nbsp;&nbsp;Alliant Energy | 12 | 802 |
| &nbsp;&nbsp;&nbsp;Ameren | 12 | 1224 |
| &nbsp;&nbsp;&nbsp;American Electric Power | 23 | 2766 |
| &nbsp;&nbsp;&nbsp;American Water Works | 9 | 1156 |
| &nbsp;&nbsp;&nbsp;Atmos Energy | 6 | 1030 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy | 27 | 1032 |
| &nbsp;&nbsp;&nbsp;CMS Energy | 12 | 883 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison | 15 | 1461 |
| &nbsp;&nbsp;&nbsp;Constellation Energy | 13 | 4901 |
| &nbsp;&nbsp;&nbsp;Dominion Energy | 36 | 2113 |
| &nbsp;&nbsp;&nbsp;DTE Energy | 9 | 1220 |
| &nbsp;&nbsp;&nbsp;Duke Energy | 33 | 4102 |
| &nbsp;&nbsp;&nbsp;Edison International | 15 | 831 |
| &nbsp;&nbsp;&nbsp;Entergy | 18 | 1730 |
| &nbsp;&nbsp;&nbsp;Evergy | 9 | 691 |
| &nbsp;&nbsp;&nbsp;Eversource Energy | 15 | 1107 |
| &nbsp;&nbsp;&nbsp;Exelon | 42 | 1937 |
| &nbsp;&nbsp;&nbsp;FirstEnergy | 21 | 962 |
| &nbsp;&nbsp;&nbsp;NextEra Energy | 87 | 7082 |
| &nbsp;&nbsp;&nbsp;NiSource | 21 | 884 |
| &nbsp;&nbsp;&nbsp;NRG Energy | 9 | 1547 |
| &nbsp;&nbsp;&nbsp;PG&E | 93 | 1484 |
| &nbsp;&nbsp;&nbsp;Pinnacle West Capital | 5 | 443 |
| &nbsp;&nbsp;&nbsp;PPL | 30 | 1096 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group | 21 | 1692 |
| &nbsp;&nbsp;&nbsp;Sempra | 27 | 2482 |
| &nbsp;&nbsp;&nbsp;Southern | 47 | 4420 |
| &nbsp;&nbsp;&nbsp;Vistra | 14 | 2636 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group | 14 | 1564 |

---

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

*231*

![](logom4.jpg)

---

| | |
|:---|:---|
| Schedule of Investments | October 31, 2025 |
| **Global X S&P 500<sup>®</sup> Christian Values ETF** | **Global X S&P 500<sup>®</sup> Christian Values ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Utilities — continued |  |  |
| &nbsp;&nbsp;&nbsp;Xcel Energy | 24 | $1948 |
|  |  | 57642 |
| TOTAL UNITED STATES |  | 2443548 |
| TOTAL COMMON STOCK <br> (Cost $2,393,004) |  | 2448812 |
| TOTAL INVESTMENTS — 99.9% <br> (Cost $2,393,004) |  | $2448812 |

---

*Percentages are based on Net Assets of $2,451,404.*

\* Non-income producing security. <br> ‡ Real Estate Investment Trust

*As of October 31, 2025, 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.*

*See "Glossary" for abbreviations.*

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

*232*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Glossary (abbreviations which may be used in preceding Schedules of Investments):</u>

**Fund Abbreviations**

*ADR — American Depositary Receipt* 

*Cl — Class* 

*CME — Chicago Mercantile Exchange* 

*ETF — Exchange-Traded Fund* 

*GDR — Global Depositary Receipt*

*H15T5Y — U.S. Treasury Yield Curve Rate T Note Constant Maturity 5 Year* 

*NVDR — Non-Voting Depositary Receipt* 

*PJSC — Public Joint-Stock Company* 

*PLC — Public Limited Company* 

*REIT — Real Estate Investment Trust* 

*S&P— Standard & Poor's* 

*SOFR — Secured Overnight Financing Rate* 

*TSFR3M — Term Secured Overnight Financing Rate 3 Month* 

*USD — U.S. Dollar* 

*US0003M — 3 Month USD Swap Rate*

*233*

![](logom4.jpg)

**Statements of Assets and Liabilities**

**October 31, 2025**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X Lithium<br> & Battery Tech<br>ETF** | **Global X<br>SuperDividend<sup>®</sup><br>ETF** | **Global X Social<br>Media ETF** | **Global X Guru<sup>®</sup><br>Index ETF** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;Cost of Investments | $1135769185 | $985992574 | $157073273 | $48302166 |
| &nbsp;&nbsp;Cost of Repurchase Agreement | 73796247 | 49211484 | 4748747 |  |
| &nbsp;&nbsp;Cost (Proceeds) of Foreign Currency | 161397590 |  |  |  |
| &nbsp;&nbsp;Investments, at Value | $1382312685 \* | $1010104908 \* | $149523611 \* | $56421813 |
| &nbsp;&nbsp;Repurchase Agreement, at Value | 73796247 | 49211484 | 4748747 |  |
| &nbsp;&nbsp;Cash | 3291111 | 1083022 |  | 42126 |
| &nbsp;&nbsp;Foreign Currency, at Value | 161397606 |  |  |  |
| &nbsp;&nbsp;Receivable for Investment Securities Sold | 185214027 |  | 9070116 |  |
| &nbsp;&nbsp;Dividend, Interest, and Securities Lending Income Receivable | 936120 | 3374235 | 22280 | 12969 |
| &nbsp;&nbsp;Reclaim Receivable | 165501 | 546784 | 10571 | 143 |
| &nbsp;&nbsp;Unrealized Appreciation on Spot Contracts |  |  | 48 |  |
| &nbsp;&nbsp;Receivable for Capital Shares Sold |  |  | 2266972 |  |
| &nbsp;&nbsp;Cash pledged as collateral on Futures Contracts |  | 275779 |  |  |
| &nbsp;&nbsp;Receivable for Variation Margin on Futures Contracts |  | 17206 |  |  |
| &nbsp;&nbsp;Due from Broker | 101148 | 68490 | 4491 |  |
| &nbsp;&nbsp;Due from Custodian |  | 350 |  |  |
| &nbsp;&nbsp;**Total Assets** | 1807214445 | 1064682258 | 165646836 | 56477051 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;Obligation to Return Securities Lending Collateral | 73796247 | 49211484 | 4748747 |  |
| &nbsp;&nbsp;Payable for Investment Securities Purchased | 348138958 | 519493 | 3911581 |  |
| &nbsp;&nbsp;Payable due to Investment Adviser | 834963 | 492570 | 86033 | 35243 |
| &nbsp;&nbsp;Unrealized Depreciation on Spot Contracts | 87117 |  |  |  |
| &nbsp;&nbsp;Payable for Capital Shares Redeemed |  | 32075 | 6382392 |  |
| &nbsp;&nbsp;Payable for Variation Margin on Futures Contracts |  | 19269 |  |  |
| &nbsp;&nbsp;Cash Overdraft |  |  | 825207 |  |
| &nbsp;&nbsp;Custodian Fees Payable | 1589 | 666 | 44 |  |
| &nbsp;&nbsp;Due to Broker |  | 124097 |  |  |
| &nbsp;&nbsp;**Total Liabilities** | 422858874 | 50399654 | 15954004 | 35243 |
| &nbsp;&nbsp;**Net Assets** | $1384355571 | $1014282604 | $149692832 | $56441808 |
| **Net Assets Consist of:** |  |  |  |  |
| &nbsp;&nbsp;Paid-in Capital | $2322062155 | $1917840113 | $290768483 | $72313743 |
| &nbsp;&nbsp;Total Accumulated Losses | (937706584) | (903557509) | (141075651) | (15871935) |
| &nbsp;&nbsp;**Net Assets** | $1384355571 | $1014282604 | $149692832 | $56441808 |
| &nbsp;&nbsp;Outstanding Shares of Beneficial Interest |  |  |  |  |

---

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

*234*

![](logom4.jpg)

**Statements of Assets and Liabilities**

**October 31, 2025**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X Lithium<br>& Battery Tech<br>ETF** | **Global X<br>SuperDividend<sup>®</sup><br>ETF** | **Global X Social<br>Media ETF** | **Global X Guru<sup>®</sup><br>Index ETF** |
| (unlimited authorization — no par value) | 22194628 | 42599412 | 2580000 | 920000 |
| Net Asset Value, Offering and Redemption Price Per Share | $62.37 | $23.81 | $58.02 | $61.35 |
| \*Includes Market Value of Securities on Loan | $119027184 | $62741795 | $5191361 | $— |

---

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

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

*235*

![](logom4.jpg)

**Statements of Assets and Liabilities**

**October 31, 2025**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X SuperIncome<sup>TM</sup><br>Preferred ETF** | **Global X<br>SuperDividend<sup>®</sup><br>U.S. ETF** | **Global X MSCI SuperDividend<sup>®</sup> <br>Emerging <br>Markets ETF** | **Global X<br>SuperDividend<sup>®</sup><br>REIT ETF** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;Cost of Investments | $129413134 | $623687901 | $36428253 | $192425013 |
| &nbsp;&nbsp;Cost of Repurchase Agreement |  | 5684653 | 2355150 |  |
| &nbsp;&nbsp;Investments, at Value | $132576780 | $621949403 \* | $38393577 \* | $200530802 |
| &nbsp;&nbsp;Repurchase Agreement, at Value |  | 5684653 | 2355150 |  |
| &nbsp;&nbsp;Cash | 173728 | 809015 | 56555 | 752480 |
| &nbsp;&nbsp;Receivable for Investment Securities Sold | 1397235 |  |  |  |
| &nbsp;&nbsp;Dividend, Interest, and Securities Lending Income Receivable | 164908 | 1504174 | 201656 | 641780 |
| &nbsp;&nbsp;Reclaim Receivable |  | 5320 | 5117 | 186835 |
| &nbsp;&nbsp;Cash pledged as collateral on Futures Contracts |  |  | 13684 | 123834 |
| &nbsp;&nbsp;Receivable for Variation Margin on Futures Contracts |  |  |  | 2430 |
| &nbsp;&nbsp;Due from Broker | 63218 |  |  | 5750 |
| &nbsp;&nbsp;**Total Assets** | 134375869 | 629952565 | 41025739 | 202243911 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;Obligation to Return Securities Lending Collateral |  | 5684653 | 2355150 |  |
| &nbsp;&nbsp;Payable for Investment Securities Purchased | 853738 |  |  |  |
| &nbsp;&nbsp;Payable due to Investment Adviser | 55171 | 241211 | 20535 | 99818 |
| &nbsp;&nbsp;Accrued Foreign Capital Gains Tax on Appreciated Securities |  |  | 76305 |  |
| &nbsp;&nbsp;Payable for Variation Margin on Futures Contracts |  |  | 1400 | 2446 |
| &nbsp;&nbsp;Custodian Fees Payable | 355 | 549 | 124 | 1041 |
| &nbsp;&nbsp;Due to Broker | 40049 |  | 31322 |  |
| &nbsp;&nbsp;**Total Liabilities** | 949313 | 5926413 | 2484836 | 103305 |
| &nbsp;&nbsp;**Net Assets** | $133426556 | $624026152 | $38540903 | $202140606 |
| **Net Assets Consist of:** |  |  |  |  |
| &nbsp;&nbsp;Paid-in Capital | $248356393 | $903201209 | $64212838 | $492475485 |
| &nbsp;&nbsp;Total Accumulated Losses | (114929837) | (279175057) | (25671935) | (290334879) |
| &nbsp;&nbsp;**Net Assets** | $133426556 | $624026152 | $38540903 | $202140606 |
| &nbsp;&nbsp;Outstanding Shares of Beneficial Interest<br> (unlimited authorization — no par value) | 14520000 | 36490000 | 1319181 | 9389193 |
| &nbsp;&nbsp;Net Asset Value, Offering and Redemption Price Per Share | $9.19 | $17.10 | $29.22 | $21.53 |
| &nbsp;&nbsp;\*Includes Market Value of Securities on Loan | $— | $7686451 | $2225323 | $— |

---

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

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

*236*

![](logom4.jpg)

**Statements of Assets and Liabilities**

**October 31, 2025**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X<br> Renewable<br> Energy Producers<br> ETF** | **Global X S&P<br> 500<sup>®</sup> Catholic<br> Values ETF** | **Global X MSCI<br> SuperDividend<sup>®</sup><br> EAFE ETF** | **Global X<br> E-commerce ETF** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;Cost of Investments | $43264701 | $732090633 | $30937626 | $54709813 |
| &nbsp;&nbsp;Cost of Repurchase Agreement | 1544009 |  |  | 946008 |
| &nbsp;&nbsp;Cost (Proceeds) of Foreign Currency | 11 |  |  |  |
| &nbsp;&nbsp;Investments, at Value | $26061736 \* | $1103314807 | $33547158 | $55824164 \* |
| &nbsp;&nbsp;Repurchase Agreement, at Value | 1544009 |  |  | 946008 |
| &nbsp;&nbsp;Cash | 14720 | 625090 | 43823 |  |
| &nbsp;&nbsp;Foreign Currency, at Value | 10 |  |  |  |
| &nbsp;&nbsp;Reclaim Receivable | 83880 | 4179 | 104319 |  |
| &nbsp;&nbsp;Dividend, Interest, and Securities Lending Income Receivable | 61219 | 481868 | 99956 | 9935 |
| &nbsp;&nbsp;Receivable for Capital Shares Sold |  |  |  | 29913 |
| &nbsp;&nbsp;Due from Broker | 17761 | 6695 |  |  |
| &nbsp;&nbsp;**Total Assets** | 27783335 | 1104432639 | 33795256 | 56810020 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;Obligation to Return Securities Lending Collateral | 1544009 |  |  | 946008 |
| &nbsp;&nbsp;Payable due to Investment Adviser | 14961 | 266977 | 15503 | 25713 |
| &nbsp;&nbsp;Unrealized Depreciation on Spot Contracts | 1 |  | 3 |  |
| &nbsp;&nbsp;Cash Overdraft |  |  |  | 53591 |
| &nbsp;&nbsp;Custodian Fees Payable | 177 | 7 |  | 130 |
| &nbsp;&nbsp;Due to Broker | 69127 | 1839 |  | 29913 |
| &nbsp;&nbsp;**Total Liabilities** | 1628275 | 268823 | 15506 | 1055355 |
| &nbsp;&nbsp;**Net Assets** | $26155060 | $1104163816 | $33779750 | $55754665 |
| **Net Assets Consist of:** |  |  |  |  |
| &nbsp;&nbsp;Paid-in Capital | $65571026 | $759724575 | $33706772 | $100303107 |
| &nbsp;&nbsp;Total Distributable Earnings (Accumulated Losses) | (39415966) | 344439241 | 72978 | (44548442) |
| &nbsp;&nbsp;**Net Assets** | $26155060 | $1104163816 | $33779750 | $55754665 |
| &nbsp;&nbsp;Outstanding Shares of Beneficial Interest<br> (unlimited authorization — no par value) | 786549 | 13340000 | 1830000 | 1660002 |
| &nbsp;&nbsp;Net Asset Value, Offering and Redemption Price Per Share | $33.25 | $82.77 | $18.46 | $33.59 |
| &nbsp;&nbsp;\*Includes Market Value of Securities on Loan | $1463134 | $— | $— | $1244341 |

---

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

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

*237*

![](logom4.jpg)

**Statements of Assets and Liabilities**

**October 31, 2025**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X S&P<br>Catholic Values<br>Developed ex-<br>U.S. ETF** | **Global X<br>NASDAQ 100<sup>®</sup> <br>Tail Risk ETF** | **Global X<br>NASDAQ 100<sup>®</sup> <br>Collar 95-110<br>ETF** | **Global X S&P<br>500<sup>®</sup> Tail Risk<br>ETF** |
| **Assets:** | | | | |
| &nbsp;&nbsp;Cost of Investments | $23351725 | $2494801 | $2877560 | $1783954 |
| &nbsp;&nbsp;Investments, at Value | $25858975 | $3329976 | $3353739 | $2483888 |
| &nbsp;&nbsp;Cash | 54618 | 3002 | 4273 | 1964 |
| &nbsp;&nbsp;Dividend, Interest, and Securities Lending Income Receivable | 55776 | 387 | 385 | 1051 |
| &nbsp;&nbsp;Reclaim Receivable | 29834 |  |  | 8 |
| &nbsp;&nbsp;Due from Broker | 35068 |  |  |  |
| &nbsp;&nbsp;**Total Assets** | 26034271 | 3333365 | 3358397 | 2486911 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;Payable for Capital Shares Redeemed | 35068 |  |  |  |
| &nbsp;&nbsp;Payable for Investment Securities Purchased | 14679 |  |  |  |
| &nbsp;&nbsp;Payable due to Investment Adviser | 7191 | 687 | 805 | 484 |
| &nbsp;&nbsp;Unrealized Depreciation on Spot Contracts | 7 |  |  |  |
| &nbsp;&nbsp;Options Written at Value (Premiums received $–, $–, $17,127 and $–, respectively) |  |  | 40366 |  |
| &nbsp;&nbsp;Due to Broker | 203 |  |  |  |
| &nbsp;&nbsp;**Total Liabilities** | 57148 | 687 | 41171 | 484 |
| &nbsp;&nbsp;**Net Assets** | $25977123 | $3332678 | $3317226 | $2486427 |
| **Net Assets Consist of:** |  |  |  |  |
| &nbsp;&nbsp;Paid-in Capital | $24188459 | $2828953 | $2861696 | $2122367 |
| &nbsp;&nbsp;Total Distributable Earnings | 1788664 | 503725 | 455530 | 364060 |
| &nbsp;&nbsp;**Net Assets** | $25977123 | $3332678 | $3317226 | $2486427 |
| &nbsp;&nbsp;Outstanding Shares of Beneficial Interest<br> (unlimited authorization — no par value) | 710000 | 90000 | 100000 | 80000 |
| &nbsp;&nbsp;Net Asset Value, Offering and Redemption Price Per Share | $36.59 | $37.03 | $33.17 | $31.08 |

---

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

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

*238*

![](logom4.jpg)

**Statements of Assets and Liabilities**

**October 31, 2025**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X S&P<br>500<sup>®</sup> Collar 95-<br>110 ETF** | **Global X<br>Disruptive<br>Materials ETF** | **Global X Russell<br>2000 ETF** | **Global X U.S.<br>Electrification<br>ETF** |
| **Assets:** | | | | |
| &nbsp;&nbsp;Cost of Investments | $3161886 | $8960489 | $1207911108 | $231050409 |
| &nbsp;&nbsp;Investments, at Value | $3658620 | $10230038 | $1352781183 \* | $247035315 |
| &nbsp;&nbsp;Cash | 3840 |  | 2758038 | 259542 |
| &nbsp;&nbsp;Dividend, Interest, and Securities Lending Income Receivable | 1662 | 5253 | 311738 | 54340 |
| &nbsp;&nbsp;Reclaim Receivable | 13 | 890 | 17577 |  |
| &nbsp;&nbsp;Receivable for Capital Shares Sold |  |  |  | 25824278 |
| &nbsp;&nbsp;Receivable for Investment Securities Sold |  |  | 62144 | 32860202 |
| &nbsp;&nbsp;Cash pledged as collateral on Futures Contracts |  |  | 263488 |  |
| &nbsp;&nbsp;Receivable for Variation Margin on Futures Contracts |  |  | 18590 |  |
| &nbsp;&nbsp;**Total Assets** | 3664135 | 10236181 | 1356212758 | 306033677 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;Obligation to Return Securities Lending Collateral |  |  | 15311374 |  |
| &nbsp;&nbsp;Options Written at Value (Premiums received $5,240, $–, $– and $–, respectively) | 7054 |  |  |  |
| &nbsp;&nbsp;Payable due to Investment Adviser | 766 | 4826 | 90297 | 94789 |
| &nbsp;&nbsp;Payable for Capital Shares Redeemed | 1 |  |  | 19882915 |
| &nbsp;&nbsp;Payable for Investment Securities Purchased |  |  |  | 38903289 |
| &nbsp;&nbsp;Cash Overdraft |  | 710 |  |  |
| &nbsp;&nbsp;Custodian Fees Payable |  | 28 |  |  |
| &nbsp;&nbsp;Due to Broker |  | 535 | 4717 |  |
| &nbsp;&nbsp;**Total Liabilities** | 7821 | 6099 | 15406388 | 58880993 |
| &nbsp;&nbsp;**Net Assets** | $3656314 | $10230082 | $1340806370 | $247152684 |
| **Net Assets Consist of:** |  |  |  |  |
| &nbsp;&nbsp;Paid-in Capital | $3251800 | $11219715 | $1217207329 | $232570505 |
| &nbsp;&nbsp;Total Distributable Earnings (Accumulated Losses) | 404514 | (989633) | 123599041 | 14582179 |
| &nbsp;&nbsp;**Net Assets** | $3656314 | $10230082 | $1340806370 | $247152684 |
| &nbsp;&nbsp;Outstanding Shares of Beneficial Interest<br> (unlimited authorization — no par value) | 120000 | 420000 | 13880000 | 8080000 |
| &nbsp;&nbsp;Net Asset Value, Offering and Redemption Price Per Share | $30.47 | $24.36 | $96.60 | $30.59 |
| &nbsp;&nbsp;\*Includes Market Value of Securities on Loan | $— | $— | $15268893 | $— |

---

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

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

*239*

![](logom4.jpg)

**Statements of Assets and Liabilities**

**October 31, 2025**

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Global X S&P<br>500 U.S. Market<br>Leaders Top 50<br>ETF** | **Global X S&P<br>500 U.S. Revenue<br>Leaders ETF** | **Global X S&P<br>500<sup>®</sup> Christian<br>Values ETF** |
| **Assets:** | | | |
| &nbsp;&nbsp;Cost of Investments | $1723997 | $1928925 | $2393004 |
| &nbsp;&nbsp;Investments, at Value | $1663049 | $2045186 | $2448812 |
| &nbsp;&nbsp;Cash | 535 | 391 | 1937 |
| &nbsp;&nbsp;Dividend, Interest, and Securities Lending Income Receivable | 1659 | 1243 | 1226 |
| &nbsp;&nbsp;Reclaim Receivable |  | 1 | 9 |
| &nbsp;&nbsp;**Total Assets** | 1665243 | 2046821 | 2451984 |
| **Liabilities:** |  |  |  |
| &nbsp;&nbsp;Payable due to Investment Adviser | 413 | 330 | 580 |
| &nbsp;&nbsp;**Total Liabilities** | 413 | 330 | 580 |
| &nbsp;&nbsp;**Net Assets** | $1664830 | $2046491 | $2451404 |
| **Net Assets Consist of:** |  |  |  |
| &nbsp;&nbsp;Paid-in Capital | $1723033 | $1921471 | $2394252 |
| &nbsp;&nbsp;Total Distributable Earnings (Accumulated Losses) | (58203) | 125020 | 57152 |
| &nbsp;&nbsp;**Net Assets** | $1664830 | $2046491 | $2451404 |
| &nbsp;&nbsp;Outstanding Shares of Beneficial Interest<br> (unlimited authorization — no par value) | 60000 | 70000 | 30000 |
| &nbsp;&nbsp;Net Asset Value, Offering and Redemption Price Per Share | $27.75 | $29.24 | $81.71 |

---

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

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

*240*

![](logom4.jpg)

Statements of Operations

**For the year ended October 31, 2025**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X<br>Lithium &<br>Battery Tech<br>ETF** | **Global X<br>SuperDividend<sup>®</sup><br> ETF** | **Global X Social<br>Media ETF** | **Global X Guru<sup>®</sup><br> Index ETF** |
| **Investment Income:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Dividend Income | $7939515 | $84580845 | $1052332 | $336474 |
| &nbsp;&nbsp;&nbsp;Interest Income | 103574 | 93820 | 4149 | 1961 |
| &nbsp;&nbsp;&nbsp;Security Lending Income, Net | 3250738 | 1120890 | 74324 | 33965 |
| &nbsp;&nbsp;&nbsp;Reclaim Income | 1271491 |  |  |  |
| &nbsp;&nbsp;&nbsp;Less: Foreign Taxes Withheld | (597999) | (4890079) | (34902) | (623) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Investment Income** | 11967319 | 80905476 | 1095903 | 371777 |
| **Expenses:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Supervision and Administration Fees<sup>(1)</sup> | 7762246 | 4884561 | 843719 | 367479 |
| &nbsp;&nbsp;&nbsp;Custodian Fees<sup>(2)</sup> | 21061 | 16373 | 2033 | 83 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Expenses** | 7783307 | 4900934 | 845752 | 367562 |
| &nbsp;&nbsp;&nbsp;Waiver of Supervision and Administration Fees | – | (16032) | – | – |
| &nbsp;&nbsp;&nbsp;**Net Expenses** | 7783307 | 4884902 | 845752 | 367562 |
| &nbsp;&nbsp;&nbsp;**Net Investment Income** | 4184012 | 76020574 | 250151 | 4215 |
| &nbsp;&nbsp;&nbsp;**Net Realized Gain (Loss) on:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments<sup>(3)</sup> | (144635809) | 19617432 | 5951151 | 9109392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts |  | 1128468 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign Currency Transactions | (200662) | (630993) | (7892) |  |
| &nbsp;&nbsp;&nbsp;**Net Realized Gain (Loss)** | (144836471) | 20114907 | 5943259 | 9109392 |
| &nbsp;&nbsp;&nbsp;**Net Change in Unrealized Appreciation (Depreciation) on:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | 560642599 | 65721544 | 35688961 | 3303973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts |  | 170776 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign Currency Translations | (17565) | 82169 | 2503 |  |
| &nbsp;&nbsp;&nbsp;**Net Change in Unrealized Appreciation (Depreciation)** | 560625034 | 65974489 | 35691464 | 3303973 |
| &nbsp;&nbsp;&nbsp;**Net Realized and Unrealized Gain (Loss)** | 415788563 | 86089396 | 41634723 | 12413365 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | $419972575 | $162109970 | $41884874 | $12417580 |

---

&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *The Supervision and Administration fees includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in the 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 the Notes to Financial Statements.)* 

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

*241*

![](logom4.jpg)

Statements of Operations

**For the year ended October 31, 2025**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X<br>SuperIncome™<br>Preferred ETF** | **Global X<br>SuperDividend<sup>®</sup><br> U.S. ETF** | **Global X MSCI<br>SuperDividend<sup>®</sup><br>Emerging<br>Markets ETF** | **Global X<br>SuperDividend<sup>®</sup><br> REIT ETF** |
| **Investment Income:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Dividend Income | $9382281 | $32603098 | $2583914 | $13809480 |
| &nbsp;&nbsp;&nbsp;Interest Income | 7786 | 43448 | 2243 | 24726 |
| &nbsp;&nbsp;&nbsp;Security Lending Income, Net | 30087 | 127041 | 9945 |  |
| &nbsp;&nbsp;&nbsp;Less: Foreign Taxes Withheld |  | (231847) | (236107) | (159839) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Investment Income** | 9420154 | 32541740 | 2359995 | 13674367 |
| **Expenses:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Supervision and Administration Fees<sup>(1)</sup> | 663442 | 2910224 | 238123 | 1116182 |
| &nbsp;&nbsp;&nbsp;Custodian Fees<sup>(2)</sup> | 1911 | 11258 | 4862 | 2369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Expenses** | 665353 | 2921482 | 242985 | 1118551 |
| &nbsp;&nbsp;&nbsp;**Net Investment Income** | 8754801 | 29620258 | 2117010 | 12555816 |
| &nbsp;&nbsp;&nbsp;**Net Realized Gain (Loss) on:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments<sup>(3)</sup> | (6523653) | 40235055 | 1003200 | 158623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts |  |  | 64399 | 12421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign Currency Transactions |  |  | (103400) | (8738) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign Capital Gains Tax |  |  | (8041) |  |
| &nbsp;&nbsp;&nbsp;**Net Realized Gain (Loss)** | (6523653) | 40235055 | 956158 | 162306 |
| &nbsp;&nbsp;&nbsp;**Net Change in Unrealized Appreciation (Depreciation) on:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | 392081 | (77115315) | 5335307 | 2423506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts |  |  | 11205 | 27634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign Capital Gains Tax on Appreciated Securities |  |  | (1648) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign Currency Translations |  |  | 53562 | 13303 |
| &nbsp;&nbsp;&nbsp;**Net Change in Unrealized Appreciation (Depreciation)** | 392081 | (77115315) | 5398426 | 2464443 |
| &nbsp;&nbsp;&nbsp;**Net Realized and Unrealized Gain (Loss)** | (6131572) | (36880260) | 6354584 | 2626749 |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Net Assets Resulting from Operations** | $2623229 | $(7260002) | $8471594 | $15182565 |

---

&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *The Supervision and Administration fees includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in the 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 the Notes to Financial Statements.)* 

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

*242*

![](logom4.jpg)

Statements of Operations

**For the year ended October 31, 2025**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X<br>Renewable<br>Energy<br>Producers ETF** | **Global X S&P<br> 500<sup>®</sup> Catholic<br>Values ETF** | **Global X MSCI<br>SuperDividend<sup>®</sup><br>EAFE ETF** | **Global X<br>E-commerce<br>ETF** |
| **Investment Income:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Dividend Income | $599281 | $11775938 | $1087464 | $484024 |
| &nbsp;&nbsp;&nbsp;Interest Income | 2364 | 30565 | 713 | 3366 |
| &nbsp;&nbsp;&nbsp;Security Lending Income, Net | 16521 | 28 |  | 55555 |
| &nbsp;&nbsp;&nbsp;Less: Foreign Taxes Withheld | (70023) | (2691) | (98211) | (4256) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Investment Income** | 548143 | 11803840 | 989966 | 538689 |
| **Expenses:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Supervision and Administration Fees<sup>(1)</sup> | 169997 | 2775371 | 93618 | 338304 |
| &nbsp;&nbsp;&nbsp;Custodian Fees<sup>(2)</sup> | 480 | 477 | 533 | 354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Expenses** | 170477 | 2775848 | 94151 | 338658 |
| &nbsp;&nbsp;&nbsp;**Net Investment Income** | 377666 | 9027992 | 895815 | 200031 |
| &nbsp;&nbsp;&nbsp;**Net Realized Gain (Loss) on:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments<sup>(3)</sup> | (8493995) | 75584170 | 20866 | 9793461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign Currency Transactions | (20336) |  | 270 | 6433 |
| &nbsp;&nbsp;&nbsp;**Net Realized Gain (Loss)** | (8514331) | 75584170 | 21136 | 9799894 |
| &nbsp;&nbsp;&nbsp;**Net Change in Unrealized Appreciation (Depreciation) on:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | 10605783 | 107707346 | 2709435 | 6000410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign Currency Translations | 13491 |  | 4527 |  |
| &nbsp;&nbsp;&nbsp;**Net Change in Unrealized Appreciation (Depreciation)** | 10619274 | 107707346 | 2713962 | 6000410 |
| &nbsp;&nbsp;&nbsp;**Net Realized and Unrealized Gain (Loss)** | 2104943 | 183291516 | 2735098 | 15800304 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | $2482609 | $192319508 | $3630913 | $16000335 |

---

&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *The Supervision and Administration fees includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in the 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 the Notes to Financial Statements.)* 

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

*243*

![](logom4.jpg)

Statements of Operations

**For the year ended October 31, 2025**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X S&P<br>Catholic Values<br>Developed ex-<br>U.S. ETF** | **Global X<br>NASDAQ 100<sup>®</sup><br> Tail Risk ETF** | **Global X<br>NASDAQ 100<sup>®</sup><br> Collar 95-110<br>ETF** | **Global X S&P<br>500<sup>®</sup> Tail Risk<br>ETF** |
| **Investment Income:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Dividend Income | $627050 | $21525 | $17371 | $25799 |
| &nbsp;&nbsp;&nbsp;Interest Income | 1619 | 132 | 164 | 484 |
| &nbsp;&nbsp;&nbsp;Reclaim Income | 29029 |  |  |  |
| &nbsp;&nbsp;&nbsp;Less: Foreign Taxes Withheld | (87604) | (56) | (49) | (8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Investment Income** | 570094 | 21601 | 17486 | 26275 |
| **Expenses:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Supervision and Administration Fees<sup>(1)</sup> | 72319 | 7297 | 6085 | 5133 |
| &nbsp;&nbsp;&nbsp;Custodian Fees<sup>(2)</sup> | 167 | 5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Expenses** | 72486 | 7302 | 6085 | 5133 |
| &nbsp;&nbsp;&nbsp;**Net Investment Income** | 497608 | 14299 | 11401 | 21142 |
| &nbsp;&nbsp;&nbsp;**Net Realized Gain (Loss) on:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments<sup>(3)</sup> | 1524175 | 232419 | 538737 | 221348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchased Options |  | (134786) | (85648) | (75500) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written Options |  |  | (110332) | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign Currency Transactions | 2827 |  |  |  |
| &nbsp;&nbsp;&nbsp;**Net Realized Gain (Loss)** | 1527002 | 97633 | 342757 | 145873 |
| &nbsp;&nbsp;&nbsp;**Net Change in Unrealized Appreciation (Depreciation) on:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | 2062270 | 432105 | 165300 | 220224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchased Options |  | (13133) | (25885) | (10189) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written Options |  |  | (30711) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign Currency Translations | 859 |  |  |  |
| &nbsp;&nbsp;&nbsp;**Net Change in Unrealized Appreciation (Depreciation)** | 2063129 | 418972 | 108704 | 210035 |
| &nbsp;&nbsp;&nbsp;**Net Realized and Unrealized Gain (Loss)** | 3590131 | 516605 | 451461 | 355908 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | $4087739 | $530904 | $462862 | $377050 |

---

&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *The Supervision and Administration fees includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in the 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 the Notes to Financial Statements.)* 

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

*244*

![](logom4.jpg)

Statements of Operations

**For the year or period ended October 31, 2025**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X S&P<br>500<sup>®</sup> Collar 95-<br>110 ETF** | **Global X<br>Disruptive<br>Materials ETF** | **Global X Russell<br>2000 ETF** | **Global X U.S.<br>Electrification<br>ETF <sup>(1)</sup>** |
| **Investment Income:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Dividend Income | $40213 | $87016 | $17683941 | $1885863 |
| &nbsp;&nbsp;&nbsp;Interest Income | 386 | 498 | 97882 | 2055 |
| &nbsp;&nbsp;&nbsp;Security Lending Income, Net |  |  | 672470 |  |
| &nbsp;&nbsp;&nbsp;Reclaim Income |  | 7376 |  |  |
| &nbsp;&nbsp;&nbsp;Less: Foreign Taxes Withheld | (13) | (12488) | (50986) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Investment Income** | 40586 | 82402 | 18403307 | 1887918 |
| **Expenses:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Supervision and Administration Fees<sup>(2)</sup> | 7847 | 29992 | 1147995 | 417247 |
| &nbsp;&nbsp;&nbsp;Custodian Fees<sup>(3)</sup> | 40 | 49 | 2865 | 233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Expenses** | 7887 | 30041 | 1150860 | 417480 |
| &nbsp;&nbsp;&nbsp;**Net Investment Income** | 32699 | 52361 | 17252447 | 1470438 |
| &nbsp;&nbsp;&nbsp;**Net Realized Gain (Loss) on:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments<sup>(4)</sup> | 595935 | (79591) | 113169335 | 8655582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchased Options | (294565) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written Options | (30773) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts |  |  | (287089) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign Currency Transactions |  | (556) |  |  |
| &nbsp;&nbsp;&nbsp;**Net Realized Gain (Loss)** | 270597 | (80147) | 112882246 | 8655582 |
| &nbsp;&nbsp;&nbsp;**Net Change in Unrealized Appreciation (Depreciation) on:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | 146796 | 2044234 | 48060690 | 15984906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchased Options | (23452) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written Options | (3607) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts |  |  | 56222 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign Currency Translations |  | (80) |  |  |
| &nbsp;&nbsp;&nbsp;**Net Change in Unrealized Appreciation (Depreciation)** | 119737 | 2044154 | 48116912 | 15984906 |
| &nbsp;&nbsp;&nbsp;**Net Realized and Unrealized Gain (Loss)** | 390334 | 1964007 | 160999158 | 24640488 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | $423033 | $2016368 | $178251605 | $26110926 |

---

&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *The Fund commenced operations on December 17, 2024.* 

*(2)* *The Supervision and Administration fees includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in the 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 the Notes to Financial Statements.)* 

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

*245*

![](logom4.jpg)

Statements of Operations

**For the period ended October 31, 2025**

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Global X S&P<br>500 U.S. Market<br>Leaders Top 50<br>ETF <sup>(1)</sup>** | **Global X<br>S&P 500 U.S.<br>Revenue Leaders<br>ETF <sup>(1)</sup>** | **Global X S&P<br>500<sup>®</sup> Christian<br>Values ETF <sup>(2)</sup>** |
| **Investment Income:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Dividend Income | $23557 | $16593 | $1886 |
| &nbsp;&nbsp;&nbsp;Interest Income | 43 | 42 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Investment Income** | 23600 | 16635 | 1886 |
| **Expenses:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Supervision and Administration Fees<sup>(3)</sup> | 3889 | 2221 | 618 |
| &nbsp;&nbsp;&nbsp;Custodian Fees<sup>(4)</sup> | 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Expenses** | 3890 | 2221 | 618 |
| &nbsp;&nbsp;&nbsp;**Net Investment Income** | 19710 | 14414 | 1268 |
| &nbsp;&nbsp;&nbsp;**Net Realized Gain (Loss) on:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments<sup>(5)</sup> | 315959 | 248494 | 76 |
| &nbsp;&nbsp;&nbsp;**Net Realized Gain (Loss)** | 315959 | 248494 | 76 |
| &nbsp;&nbsp;&nbsp;**Net Change in Unrealized Appreciation (Depreciation) on:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | (60948) | 116261 | 55808 |
| &nbsp;&nbsp;&nbsp;**Net Change in Unrealized Appreciation (Depreciation)** | (60948) | 116261 | 55808 |
| &nbsp;&nbsp;&nbsp;**Net Realized and Unrealized Gain (Loss)** | 255011 | 364755 | 55884 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | $274721 | $379169 | $57152 |

---

&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *The Fund commenced operations on April 15, 2025.* 

*(2)* *The Fund commenced operations on September 23, 2025.* 

*(3)* *The Supervision and Administration fees includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in the Notes to Financial Statements.)* 

*(4)* *See Note 2 in the Notes to Financial Statements.* 

*(5)* *Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in the Notes to Financial Statements.)* 

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

*246*

![](logom4.jpg)

Statements of Changes in Net Assets

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X Lithium & Battery Tech<br> ETF** | **Global X Lithium & Battery Tech<br> ETF** | **Global X SuperDividend<sup>®</sup> ETF** | **Global X SuperDividend<sup>®</sup> ETF** |
|  | **Year Ended<br> October 31, 2025** | **Year Ended<br> October 31, 2024** | **Year Ended<br> October 31, 2025** | **Year Ended<br> October 31, 2024** |
| **Operations:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $4184012 | $13201905 | $76020574 | $70922725 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) | (144836471) | (193462841) | 20114907 | (23014955) |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 560625034 | 39536654 | 65974489 | 92087615 |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Net Assets Resulting from Operations** | 419972575 | (140724282) | 162109970 | 139995385 |
| **Distributions:** | (6394452) | (22783171) | (88083476) | (82970679) |
| **Capital Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 141566328 | 116187325 | 187262328 | 50972077 |
| &nbsp;&nbsp;&nbsp;Redeemed | (445941037) | (773318360) | (36028581) | (18085050) |
| &nbsp;&nbsp;&nbsp;**Increase (Decrease) in Net Assets from Capital Share Transactions** | (304374709) | (657131035) | 151233747 | 32887027 |
| &nbsp;&nbsp;&nbsp;**Total Increase (Decrease) in Net Assets** | 109203414 | (820638488) | 225260241 | 89911733 |
| **Net Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 1275152157 | 2095790645 | 789022363 | 699110630 |
| &nbsp;&nbsp;&nbsp;End of Year | $1384355571 | $1275152157 | $1014282604 | $789022363 |
| **Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 3480000 | 2480000 | 8240000 | 2340000 |
| &nbsp;&nbsp;&nbsp;Redeemed | (10650000) | (17400000) | (1520000) | (800000) |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Shares Outstanding from Share Transactions** | (7170000) | (14920000) | 6720000 | 1540000 |

---

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

*247*

![](logom4.jpg)

Statements of Changes in Net Assets

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X Social Media ETF** | **Global X Social Media ETF** | **Global X Guru<sup>®</sup> Index ETF** | **Global X Guru<sup>®</sup> Index ETF** |
|  | **Year Ended<br> October 31, 2025** | **Year Ended<br> October 31, 2024** | **Year Ended<br> October 31, 2025** | **Year Ended<br> October 31, 2024** |
| **Operations:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $250151 | $149265 | $4215 | $163569 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) | 5943259 | (11464854) | 9109392 | 8196765 |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 35691464 | 39129234 | 3303973 | 7367835 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 41884874 | 27813645 | 12417580 | 15728169 |
| **Distributions:** | (280236) | (378226) | (22051) | (217907) |
| **Return of Capital:** |  | (173861) | (63785) |  |
| **Capital Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 21685274 | 16870837 | 36806228 | 29444581 |
| &nbsp;&nbsp;&nbsp;Redeemed | (32696716) | (65429755) | (37691062) | (41717193) |
| &nbsp;&nbsp;&nbsp;**Decrease in Net Assets from Capital Share Transactions** | (11011442) | (48558918) | (884834) | (12272612) |
| &nbsp;&nbsp;&nbsp;**Total Increase (Decrease) in Net Assets** | 30593196 | (21297360) | 11446910 | 3237650 |
| **Net Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 119099636 | 140396996 | 44994898 | 41757248 |
| &nbsp;&nbsp;&nbsp;End of Year | $149692832 | $119099636 | $56441808 | $44994898 |
| **Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 380000 | 410000 | 700000 | 720000 |
| &nbsp;&nbsp;&nbsp;Redeemed | (640000) | (1610000) | (710000) | (1010000) |
| &nbsp;&nbsp;&nbsp;**Net Decrease in Shares Outstanding from Share Transactions** | (260000) | (1200000) | (10000) | (290000) |

---

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

*248*

![](logom4.jpg)

Statements of Changes in Net Assets

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X SuperIncome™ Preferred<br> ETF** | **Global X SuperIncome™ Preferred<br> ETF** | **Global X SuperDividend<sup>®</sup> U.S. ETF** | **Global X SuperDividend<sup>®</sup> U.S. ETF** |
|  | **Year Ended<br> October 31, 2025** | **Year Ended<br> October 31, 2024** | **Year Ended<br> October 31, 2025** | **Year Ended<br> October 31, 2024** |
| **Operations:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $8754801 | $9404477 | $29620258 | $26362252 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) | (6523653) | 1863914 | 40235055 | (14393928) |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 392081 | 23040899 | (77115315) | 130700573 |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Net Assets Resulting from Operations** | 2623229 | 34309290 | (7260002) | 142668897 |
| **Distributions:** | (9102947) | (9677017) | (43258173) | (38896520) |
| **Capital Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 27214419 | 51586318 | 334256977 | 52943209 |
| &nbsp;&nbsp;&nbsp;Redeemed | (38017571) | (82999264) | (304547412) | (102780324) |
| &nbsp;&nbsp;&nbsp;**Increase (Decrease) in Net Assets from Capital Share Transactions** | (10803152) | (31412946) | 29709565 | (49837115) |
| &nbsp;&nbsp;&nbsp;**Total Increase (Decrease) in Net Assets** | (17282870) | (6780673) | (20808610) | 53935262 |
| **Net Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 150709426 | 157490099 | 644834762 | 590899500 |
| &nbsp;&nbsp;&nbsp;End of Year | $133426556 | $150709426 | $624026152 | $644834762 |
| **Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 2920000 | 5240000 | 17760000 | 2990000 |
| &nbsp;&nbsp;&nbsp;Redeemed | (4120000) | (8710000) | (16130000) | (5950000) |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Shares Outstanding from Share Transactions** | (1200000) | (3470000) | 1630000 | (2960000) |

---

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

*249*

![](logom4.jpg)

Statements of Changes in Net Assets

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X MSCI SuperDividend<sup>®</sup><br> Emerging Markets ETF** | **Global X MSCI SuperDividend<sup>®</sup><br> Emerging Markets ETF** | **Global X SuperDividend<sup>®</sup> REIT<br> ETF** | **Global X SuperDividend<sup>®</sup> REIT<br> ETF** |
|  | **Year Ended<br> October 31, 2025** | **Year Ended<br> October 31, 2024** | **Year Ended<br> October 31, 2025** | **Year Ended<br> October 31, 2024** |
| **Operations:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $2117010 | $2903259 | $12555816 | $13198901 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) | 956158 | 2196556 | 162306 | (42571639) |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 5398426 | 2101831 | 2464443 | 78531466 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 8471594 | 7201646 | 15182565 | 49158728 |
| **Distributions:** | (2052122) | (3099999) | (11318951) | (14475897) |
| **Return of Capital:** | (203005) |  | (5032543) | (3572605) |
| **Capital Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 271948 | 285437 | 13209728 | 9329225 |
| &nbsp;&nbsp;&nbsp;Redeemed | (4181036) | (9727461) | (30476066) | (37516690) |
| &nbsp;&nbsp;&nbsp;**Decrease in Net Assets from Capital Share Transactions** | (3909088) | (9442024) | (17266338) | (28187465) |
| &nbsp;&nbsp;&nbsp;**Total Increase (Decrease) in Net Assets** | 2307379 | (5340377) | (18435267) | 2922761 |
| **Net Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 36233524 | 41573901 | 220575873 | 217653112 |
| &nbsp;&nbsp;&nbsp;End of Year | $38540903 | $36233524 | $202140606 | $220575873 |
| **Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 10000 | 10000 | 610000 | 460000 |
| &nbsp;&nbsp;&nbsp;Redeemed | (160000) | (390000) | (1520000) | (1820000) |
| &nbsp;&nbsp;&nbsp;**Net Decrease in Shares Outstanding from Share Transactions** | (150000) | (380000) | (910000) | (1360000) |

---

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

*250*

![](logom4.jpg)

Statements of Changes in Net Assets

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X Renewable Energy<br> Producers ETF<sup>‡</sup>** | **Global X Renewable Energy<br> Producers ETF<sup>‡</sup>** | **Global X S&P 500<sup>®</sup> Catholic Values<br> ETF** | **Global X S&P 500<sup>®</sup> Catholic Values<br> ETF** |
|  | **Year Ended<br> October 31, 2025** | **Year Ended<br> October 31, 2024** | **Year Ended<br> October 31, 2025** | **Year Ended<br> October 31, 2024** |
| **Operations:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $377666 | $488950 | $9027992 | $9272247 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) | (8514331) | (8622481) | 75584170 | 44965062 |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 10619274 | 11460523 | 107707346 | 192334216 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 2482609 | 3326992 | 192319508 | 246571525 |
| **Distributions:** | (306303) | (604064) | (9146709) | (8941586) |
| **Capital Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 5690 |  | 192992109 | 101654644 |
| &nbsp;&nbsp;&nbsp;Redeemed | (10008363) | (12538188) | (171519803) | (111563065) |
| &nbsp;&nbsp;&nbsp;**Increase (Decrease) in Net Assets from Capital Share Transactions** | (10002673) | (12538188) | 21472306 | (9908421) |
| &nbsp;&nbsp;&nbsp;**Total Increase (Decrease) in Net Assets** | (7826367) | (9815260) | 204645105 | 227721518 |
| **Net Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 33981427 | 43796687 | 899518711 | 671797193 |
| &nbsp;&nbsp;&nbsp;End of Year | $26155060 | $33981427 | $1104163816 | $899518711 |
| **Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued |  |  | 2650000 | 1590000 |
| &nbsp;&nbsp;&nbsp;Redeemed | (2703451) | (406667) | (2400000) | (1700000) |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Shares Outstanding from Share Transactions** | (2703451) | (406667) | 250000 | (110000) |

---

*‡ The Outstanding Shares of Beneficial Interest and Net Asset Value, Offering and Redemption Price Per Share were updated to reflect the effect of a 1 for 3 reverse share split on close of business August 29, 2025 (See Note 9 in the Notes to Financial Statements).*

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

*251*

![](logom4.jpg)

Statements of Changes in Net Assets

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X MSCI SuperDividend<sup>®</sup><br> EAFE ETF** | **Global X MSCI SuperDividend<sup>®</sup><br> EAFE ETF** | **Global X E-commerce ETF** | **Global X E-commerce ETF** |
|  | **Year Ended<br> October 31, 2025** | **Year Ended<br> October 31, 2024** | **Year Ended<br> October 31, 2025** | **Year Ended<br> October 31, 2024** |
| **Operations:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $895815 | $636302 | $200031 | $175004 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) | 21136 | 495445 | 9799894 | (7253175) |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 2713962 | 993082 | 6000410 | 37703762 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 3630913 | 2124829 | 16000335 | 30625591 |
| **Distributions:** | (872114) | (677906) | (241541) | (154261) |
| **Capital Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 22513304 | 4727233 | 32405084 | 2421200 |
| &nbsp;&nbsp;&nbsp;Redeemed | (2323428) | (5425057) | (48640696) | (38729592) |
| &nbsp;&nbsp;&nbsp;**Increase (Decrease) in Net Assets from Capital Share Transactions** | 20189876 | (697824) | (16235612) | (36308392) |
| &nbsp;&nbsp;&nbsp;**Total Increase (Decrease) in Net Assets** | 22948675 | 749099 | (476818) | (5837062) |
| **Net Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 10831075 | 10081976 | 56231483 | 62068545 |
| &nbsp;&nbsp;&nbsp;End of Year | $33779750 | $10831075 | $55754665 | $56231483 |
| **Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 1260000 | 320000 | 1110000 | 100000 |
| &nbsp;&nbsp;&nbsp;Redeemed | (160000) | (380000) | (1560000) | (1650000) |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Shares Outstanding from Share Transactions** | 1100000 | (60000) | (450000) | (1550000) |

---

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

*252*

![](logom4.jpg)

Statements of Changes in Net Assets

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X S&P Catholic Values<br> Developed ex-U.S. ETF** | **Global X S&P Catholic Values<br> Developed ex-U.S. ETF** | **Global X NASDAQ 100<sup>®</sup> Tail Risk<br> ETF** | **Global X NASDAQ 100<sup>®</sup> Tail Risk<br> ETF** |
|  | **Year Ended<br> October 31, 2025** | **Year Ended<br> October 31, 2024** | **Year Ended<br> October 31, 2025** | **Year Ended<br> October 31, 2024** |
| **Operations:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $497608 | $344498 | $14299 | $13732 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) | 1527002 | 1812411 | 97633 | (38472) |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 2063129 | 1187452 | 418972 | 553452 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 4087739 | 3344361 | 530904 | 528712 |
| **Distributions:** | (453571) | (400397) | (14683) | (10896) |
| **Capital Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 16634386 | 4720088 | 968701 | 1328808 |
| &nbsp;&nbsp;&nbsp;Redeemed | (7020613) | (9419485) | (859390) | (501847) |
| &nbsp;&nbsp;&nbsp;**Increase (Decrease) in Net Assets from Capital Share Transactions** | 9613773 | (4699397) | 109311 | 826961 |
| &nbsp;&nbsp;&nbsp;**Total Increase (Decrease) in Net Assets** | 13247941 | (1755433) | 625532 | 1344777 |
| **Net Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 12729182 | 14484615 | 2707146 | 1362369 |
| &nbsp;&nbsp;&nbsp;End of Year | $25977123 | $12729182 | $3332678 | $2707146 |
| **Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 500000 | 150000 | 30000 | 50000 |
| &nbsp;&nbsp;&nbsp;Redeemed | (200000) | (300000) | (30000) | (20000) |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Shares Outstanding from Share Transactions** | 300000 | (150000) |  | 30000 |

---

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

*253*

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Statements of Changes in Net Assets

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X NASDAQ 100<sup>®</sup> Collar<br> 95-110 ETF** | **Global X NASDAQ 100<sup>®</sup> Collar<br> 95-110 ETF** | **Global X S&P 500<sup>®</sup> Tail Risk ETF** | **Global X S&P 500<sup>®</sup> Tail Risk ETF** |
|  | **Year Ended<br> October 31, 2025** | **Year Ended<br> October 31, 2024** | **Year Ended<br> October 31, 2025** | **Year Ended<br> October 31, 2024** |
| **Operations:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $11401 | $13750 | $21142 | $32789 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) | 342757 | 9497 | 145873 | 133289 |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 108704 | 505587 | 210035 | 641746 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 462862 | 528834 | 377050 | 807824 |
| **Distributions:** | (155595) | (13700) | (451558) | (32910) |
| **Capital Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 2493236 |  | 557718 | 295892 |
| &nbsp;&nbsp;&nbsp;Redeemed | (1286795) | (823650) | (568466) | (922471) |
| &nbsp;&nbsp;&nbsp;**Increase (Decrease) in Net Assets from Capital Share Transactions** | 1206441 | (823650) | (10748) | (626579) |
| &nbsp;&nbsp;&nbsp;**Total Increase (Decrease) in Net Assets** | 1513708 | (308516) | (85256) | 148335 |
| **Net Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 1803518 | 2112034 | 2571683 | 2423348 |
| &nbsp;&nbsp;&nbsp;End of Year | $3317226 | $1803518 | $2486427 | $2571683 |
| **Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 80000 |  | 20000 | 10000 |
| &nbsp;&nbsp;&nbsp;Redeemed | (40000) | (30000) | (20000) | (30000) |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Shares Outstanding from Share Transactions** | 40000 | (30000) |  | (20000) |

---

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

*254*

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Statements of Changes in Net Assets

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X S&P 500<sup>®</sup> Collar 95-110<br> ETF** | **Global X S&P 500<sup>®</sup> Collar 95-110<br> ETF** | **Global X Disruptive Materials ETF** | **Global X Disruptive Materials ETF** |
|  | **Year Ended<br> October 31, 2025** | **Year Ended<br> October 31, 2024** | **Year Ended<br> October 31, 2025** | **Year Ended<br> October 31, 2024** |
| **Operations:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $32699 | $27493 | $52361 | $51129 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) | 270597 | 89516 | (80147) | (872431) |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 119737 | 515442 | 2044154 | 1720719 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 423033 | 632451 | 2016368 | 899417 |
| **Distributions:** | (316521) | (28907) | (61028) | (77577) |
| **Capital Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 6981128 |  | 5076466 | 564782 |
| &nbsp;&nbsp;&nbsp;Redeemed | (5349211) | (906822) | (2766359) | (3105834) |
| &nbsp;&nbsp;&nbsp;**Increase (Decrease) in Net Assets from Capital Share Transactions** | 1631917 | (906822) | 2310107 | (2541052) |
| &nbsp;&nbsp;&nbsp;**Total Increase (Decrease) in Net Assets** | 1738429 | (303278) | 4265447 | (1719212) |
| **Net Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 1917885 | 2221163 | 5964635 | 7683847 |
| &nbsp;&nbsp;&nbsp;End of Year | $3656314 | $1917885 | $10230082 | $5964635 |
| **Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 260000 |  | 220000 | 40000 |
| &nbsp;&nbsp;&nbsp;Redeemed | (200000) | (30000) | (170000) | (210000) |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Shares Outstanding from Share Transactions** | 60000 | (30000) | 50000 | (170000) |

---

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

*255*

![](logom4.jpg)

Statements of Changes in Net Assets

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Global X Russell 2000 ETF** | **Global X Russell 2000 ETF** | **Global X U.S.<br> Electrification<br> ETF** |
|  | **Year Ended<br> October 31, 2025** | **Period Ended<br> October 31,<br> 2024<sup>(1)</sup>** | **Period Ended<br> October 31,<br> 2025<sup>(2)</sup>** |
| **Operations:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $17252447 | $7284552 | $1470438 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) | 112882246 | 27727352 | 8655582 |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 48116912 | 96797313 | 15984906 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 178251605 | 131809217 | 26110926 |
| **Distributions:** | (21920075) | (5855188) | (1403837) |
| **Capital Share Transactions:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 376217129 | 1614350981 | 285298182 |
| &nbsp;&nbsp;&nbsp;Redeemed | (626682397) | (305364902) | (62852587) |
| &nbsp;&nbsp;&nbsp;**Increase (Decrease) in Net Assets from Capital Share Transactions** | (250465268) | 1308986079 | 222445595 |
| &nbsp;&nbsp;&nbsp;**Total Increase (Decrease) in Net Assets** | (94133738) | 1434940108 | 247152684 |
| **Net Assets:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of Period | 1434940108 |  |  |
| &nbsp;&nbsp;&nbsp;End of Period | $1340806370 | $1434940108 | $247152684 |
| **Share Transactions:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 4400000 | 20380000 | 10430000 |
| &nbsp;&nbsp;&nbsp;Redeemed | (7250000) | (3650000) | (2350000) |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Shares Outstanding from Share Transactions** | (2850000) | 16730000 | 8080000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *The Fund commenced operations on June 4, 2024.* 

*(2)* *The Fund commenced operations on December 17, 2024.* 

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

*256*

![](logom4.jpg)

Statements of Changes in Net Assets

------

---

| | | |
|:---|:---|:---|
|  | **Global X S&P<br> 500 U.S. Market<br> Leaders Top 50<br> ETF** | **Global X<br> S&P 500 U.S.<br> Revenue Leaders<br> ETF** |
|  | **Period Ended<br> October 31,<br> 2025<sup>(1)</sup>** | **Period Ended<br> October 31,<br> 2025<sup>(1)</sup>** |
| **Operations:** |  |  |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $19710 | $14414 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) | 315959 | 248494 |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | (60948) | 116261 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 274721 | 379169 |
| **Distributions:** | (4415) | (4713) |
| **Capital Share Transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 3915595 | 4141712 |
| &nbsp;&nbsp;&nbsp;Redeemed | (2521071) | (2469677) |
| &nbsp;&nbsp;&nbsp;**Increase in Net Assets from Capital Share Transactions** | 1394524 | 1672035 |
| &nbsp;&nbsp;&nbsp;**Total Increase in Net Assets** | 1664830 | 2046491 |
| **Net Assets:** |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of Period |  |  |
| &nbsp;&nbsp;&nbsp;End of Period | $1664830 | $2046491 |
| **Share Transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 150000 | 160000 |
| &nbsp;&nbsp;&nbsp;Redeemed | (90000) | (90000) |
| &nbsp;&nbsp;&nbsp;**Net Increase in Shares Outstanding from Share Transactions** | 60000 | 70000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *The Fund commenced operations on April 15, 2025.* 

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

*257*

![](logom4.jpg)

Statements of Changes in Net Assets

------

---

| | |
|:---|:---|
|  | **Global X S&P<br> 500<sup>®</sup> Christian<br> Values ETF** |
|  | **Period Ended<br> October 31,<br> 2025<sup>(1)</sup>** |
| **Operations:** |  |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $1268 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) | 76 |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 55808 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 57152 |
| **Capital Share Transactions:** |  |
| &nbsp;&nbsp;&nbsp;Issued | 2394252 |
| &nbsp;&nbsp;&nbsp;**Increase in Net Assets from Capital Share Transactions** | 2394252 |
| &nbsp;&nbsp;&nbsp;**Total Increase in Net Assets** | 2451404 |
| **Net Assets:** |  |
| &nbsp;&nbsp;&nbsp;Beginning of Period |  |
| &nbsp;&nbsp;&nbsp;End of Period | $2451404 |
| **Share Transactions:** |  |
| &nbsp;&nbsp;&nbsp;Issued | 30000 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Shares Outstanding from Share Transactions** | 30000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *The Fund commenced operations on September 23, 2025.* 

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

*258*

![](logom4.jpg)

Financial Highlights

---

| |
|:---|
| **Selected Per Share Data & Ratios** |
| **For a Share Outstanding Throughout the Period** |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Net<br> Asset Value,<br> Beginning<br> of Period<br> ($)** | **Net Investment<br> Income (Loss)<br> ($)\*** | **Net Investment<br> Income (Loss)<br> ($)\*** | **Net Realized<br> and Unrealized<br> Gain (Loss)<br> ($)** | **Total from<br> Operations<br> ($)** | **Distribution<br> from Net<br> Investment<br> Income ($)** | **Distribution<br> from Capital<br> Gains ($)** | **Return of<br> Capital ($)** |
| **Global X Lithium & Battery Tech ETF &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;** | **Global X Lithium & Battery Tech ETF &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;** | **Global X Lithium & Battery Tech ETF &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;** |  |  |  |  |  |  |
| 2025 | 43.42 |  | 0.17 | 19.05 | 19.22 | (0.27) |  |  |
| 2024 | 47.33 |  | 0.37 | (3.67) | (3.30) | (0.61) |  |  |
| 2023 | 67.13 |  | 0.58 | (19.66) | (19.08) | (0.72) |  |  |
| 2022 | 91.07 |  | 0.26 | (23.99) | (23.73) | (0.21) |  |  |
| 2021 | 42.86 |  | 0.12 | 48.21 | 48.33 | (0.12) |  |  |
| **Global X SuperDividend<sup>®</sup> ETF** | **Global X SuperDividend<sup>®</sup> ETF** | **Global X SuperDividend<sup>®</sup> ETF** |  |  |  |  |  |  |
| 2025 | 21.99 |  | 1.98 | 2.16 | 4.14 | (2.32) |  |  |
| 2024 | 20.36 |  | 2.03 | 1.98 | 4.01 | (2.38) |  |  |
| 2023<sup>(1)</sup> | 23.05 |  | 2.11 | (2.02) | 0.09 | (2.22) |  | (0.56) |
| 2022<sup>(1)</sup> | 39.03 |  | 2.31 | (14.68) | (12.37) | (2.65) |  | (0.96) |
| 2021<sup>(1)</sup> | 31.83 |  | 2.82 | 7.38 | 10.20 | (3.00) |  |  |
| **Global X Social Media ETF** | **Global X Social Media ETF** | **Global X Social Media ETF** |  |  |  |  |  |  |
| 2025 | 41.94 |  | 0.10 | 16.09 | 16.19 | (0.11) |  |  |
| 2024 | 34.75 |  | 0.04 | 7.31 | 7.35 | (0.11) |  | (0.05) |
| 2023 | 24.88 |  | 0.19 | 9.87 | 10.06 | (0.19) |  |  |
| 2022 | 61.26 |  | 0.03 | (36.29) | (36.26) |  |  | (0.12) |
| 2021 | 51.95 |  | (0.31) | 9.62 | 9.31 |  |  |  |

---

---

| | |
|:---|:---|
| *\** | *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.* |
| *††* | *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 December 19, 2022. (See Note 9 in the Notes to Financial Statements.)* |
|  | *Amounts designated as "—" are either $0 or have been rounded to $0.* |

---

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

*259*

![](logom4.jpg)

**Financial Highlights**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Total from<br> Distributions ($)** | **Net<br> Asset Value,<br> End of<br> Period ($)** | **Total<br> Return<br> (%)\*\*** | **Net Assets, End of<br> Period ($)(000)** | **Ratio of Expenses<br> to Average Net<br> Assets (%)** | **Ratio of Net<br> Investment Income<br> (Loss) to Average<br> Net Assets (%)** | **Portfolio<br> Turnover Rate<br> (%)<sup>††</sup>** |
| (0.27) | 62.37 | 44.60 | 1384356 | 0.75 | 0.40 | 51.63 |
| (0.61) | 43.42 | (7.04) | 1275152 | 0.75 | 0.84 | 22.87 |
| (0.72) | 47.33 | (28.63) | 2095791 | 0.75 | 0.92 | 19.76 |
| (0.21) | 67.13 | (26.10) | 3899509 | 0.75 | 0.33 | 38.73 |
| (0.12) | 91.07 | 112.89 | 5375399 | 0.75 | 0.17 | 39.09 |
| (2.32) | 23.81 | 20.40 | 1014283 | 0.58 | 9.02 | 68.09 |
| (2.38) | 21.99 | 20.42 | 789022 | 0.58 | 9.23 | 92.54 |
| (2.78) | 20.36 | (0.31) | 699111 | 0.58 | 9.18 | 91.59 |
| (3.61) | 23.05 | (33.80) | 676279 | 0.61 | 7.39 | 91.10 |
| (3.00) | 39.03 | 32.21 | 930431 | 0.58 | 6.98 | 82.37 |
| (0.11) | 58.02 | 38.63 | 149693 | 0.65 | 0.19 | 9.79 |
| (0.16) | 41.94 | 21.15 | 119100 | 0.65 | 0.10 | 16.85 |
| (0.19) | 34.75 | 40.40 | 140397 | 0.65 | 0.53 | 29.09 |
| (0.12) | 24.88 | (59.24) | 103245 | 0.65 | 0.06 | 21.59 |
|  | 61.26 | 17.94 | 401893 | 0.65 | (0.48) | 30.89 |

---

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

*260*

![](logom4.jpg)

Financial Highlights

---

| |
|:---|
| **Selected Per Share Data & Ratios** |
| **For a Share Outstanding Throughout the Period** |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Net<br> Asset Value,<br> Beginning<br> of Period<br> ($)** | **Net Investment<br> Income<br> ($)\*** | **Net Investment<br> Income<br> ($)\*** | **Net Realized<br> and Unrealized<br> Gain (Loss)<br> ($)** | **Total from<br> Operations<br> ($)** | **Distribution<br> from Net<br> Investment<br> Income ($)** | **Distribution<br> from Capital<br> Gains ($)** | **Return of<br> Capital ($)** |
| **Global X Guru<sup>®</sup> Index ETF &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;** | **Global X Guru<sup>®</sup> Index ETF &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;** | **Global X Guru<sup>®</sup> Index ETF &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;** |  |  |  |  |  |  |
| 2025 | 48.38 |  |  | 13.06 | 13.06 | (0.02) |  | (0.07) |
| 2024 | 34.23 |  | 0.16 | 14.18 | 14.34 | (0.19) |  |  |
| 2023 | 33.48 |  | 0.12 | 0.75 | 0.87 | (0.11) |  | (0.01) |
| 2022 | 50.24 |  | 0.01 | (16.72) | (16.71) | (0.01) |  | (0.04) |
| 2021 | 37.31 |  | 0.69 | 13.14 | 13.83 | (0.90) |  |  |
| **Global X SuperIncome™ Preferred ETF** | **Global X SuperIncome™ Preferred ETF** | **Global X SuperIncome™ Preferred ETF** |  |  |  |  |  |  |
| 2025 | 9.59 |  | 0.58 | (0.38) | 0.20 | (0.60) |  |  |
| 2024 | 8.21 |  | 0.55 | 1.39 | 1.94 | (0.56) |  |  |
| 2023 | 9.67 |  | 0.60 | (1.44) | (0.84) | (0.62) |  |  |
| 2022 | 11.94 |  | 0.54 | (2.13) | (1.59) | (0.65) |  | (0.03) |
| 2021 | 11.12 |  | 0.61 | 0.89 | 1.50 | (0.68) |  |  |
| **Global X SuperDividend<sup>®</sup> U.S. ETF** | **Global X SuperDividend<sup>®</sup> U.S. ETF** | **Global X SuperDividend<sup>®</sup> U.S. ETF** |  |  |  |  |  |  |
| 2025 | 18.50 |  | 0.83 | (1.02) | (0.19) | (1.21) |  |  |
| 2024 | 15.62 |  | 0.74 | 3.23 | 3.97 | (1.09) |  |  |
| 2023 | 19.18 |  | 0.69 | (3.02) | (2.33) | (0.90) |  | (0.33) |
| 2022 | 20.13 |  | 0.67 | (0.41) | 0.26 | (0.81) |  | (0.40) |
| 2021 | 14.99 |  | 0.65 | 5.59 | 6.24 | (0.99) |  | (0.11) |

---

---

| | |
|:---|:---|
| *\** | *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.* |
| *††* | *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.* |
|  | *Amounts designated as "—" are either $0 or have been rounded to $0.* |

---

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

*261*

![](logom4.jpg)

Financial Highlights

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Total from<br> Distributions ($)** | **Net<br> Asset Value,<br> End of<br> Period ($)** | **Total<br> Return<br> (%)\*\*** | **Net Assets, End of<br> Period ($)(000)** | **Ratio of Expenses<br> to Average Net<br> Assets (%)** | **Ratio of Net<br> Investment Income<br> to Average Net<br> Assets (%)** | **Portfolio<br> Turnover Rate<br> (%)<sup>††</sup>** |
| (0.09) | 61.35 | 27.04 | 56442 | 0.75 | 0.01 | 86.33 |
| (0.19) | 48.38 | 41.98 | 44995 | 0.75 | 0.37 | 100.83 |
| (0.12) | 34.23 | 2.58 | 41757 | 0.75 | 0.35 | 100.70 |
| (0.05) | 33.48 | (33.28) | 46535 | 0.75 | 0.02 | 111.39 |
| (0.90) | 50.24 | 37.43 | 75856 | 0.75 | 1.47 | 121.91 |
| (0.60) | 9.19 | 2.33 | 133427 | 0.48 | 6.35 | 73.21 |
| (0.56) | 9.59 | 24.16 | 150709 | 0.48 | 5.93 | 63.31 |
| (0.62) | 8.21 | (9.26) | 157490 | 0.53 | 6.47 | 109.60 |
| (0.68) | 9.67 | (13.81) | 195159 | 0.58 | 5.04 | 39.39 |
| (0.68) | 11.94 | 13.71 | 234953 | 0.58 | 5.13 | 98.47 |
| (1.21) | 17.10 | (1.18) | 624026 | 0.45 | 4.58 | 41.47 |
| (1.09) | 18.50 | 26.21 | 644835 | 0.45 | 4.28 | 53.21 |
| (1.23) | 15.62 | (12.60) | 590900 | 0.45 | 3.91 | 63.24 |
| (1.21) | 19.18 | 1.16 | 683864 | 0.45 | 3.34 | 38.51 |
| (1.10) | 20.13 | 42.53 | 669734 | 0.45 | 3.41 | 60.53 |

---

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

*262*

![](logom4.jpg)

Financial Highlights

---

| |
|:---|
| **Selected Per Share Data & Ratios** |
| **For a Share Outstanding Throughout the Period** |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Net<br> Asset Value,<br> Beginning<br> of Period<br> ($)** | **Net Investment<br> Income<br> ($)\*** | **Net Investment<br> Income<br> ($)\*** | **Net Realized<br> and Unrealized<br> Gain (Loss)<br> ($)** | **Total from<br> Operations<br> ($)** | **Distribution<br> from Net<br> Investment<br> Income ($)** | **Distribution<br> from Capital<br> Gains ($)** | **Return of<br> Capital ($)** |
| **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** | **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** | **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** |  |  |  |  |  |  |
| 2025 | 24.66 |  | 1.52 | 4.66 | 6.18 | (1.47) |  | (0.15) |
| 2024 | 22.48 |  | 1.70 | 2.28 | 3.98 | (1.80) |  |  |
| 2023<sup>(1)</sup> | 21.36 |  | 1.95 | 1.00 | 2.95 | (1.83) |  |  |
| 2022<sup>(1)</sup> | 33.78 |  | 1.67 | (11.44) | (9.77) | (2.19) |  | (0.46) |
| 2021<sup>(1)</sup> | 28.59 |  | 3.06 | 4.35 | 7.41 | (2.22) |  |  |
| **Global X SuperDividend<sup>®</sup> REIT ETF** | **Global X SuperDividend<sup>®</sup> REIT ETF** | **Global X SuperDividend<sup>®</sup> REIT ETF** |  |  |  |  |  |  |
| 2025 | 21.42 |  | 1.36 | 0.52 | 1.88 | (1.23) |  | (0.54) |
| 2024 | 18.67 |  | 1.22 | 3.20 | 4.42 | (1.34) |  | (0.33) |
| 2023<sup>(1)</sup> | 21.65 |  | 1.28 | (2.60) | (1.32) | (1.10) |  | (0.56) |
| 2022<sup>(1)</sup> | 29.46 |  | 1.13 | (7.14) | (6.01) | (1.10) |  | (0.70) |
| 2021<sup>(1)</sup> | 22.68 |  | 1.14 | 7.50 | 8.64 | (1.23) |  | (0.63) |
| **Global X Renewable Energy Producers ETF** | **Global X Renewable Energy Producers ETF** | **Global X Renewable Energy Producers ETF** |  |  |  |  |  |  |
| 2025<sup>(2)</sup> | 29.22 |  | 0.15 | 4.19 | 4.34 | (0.31) |  |  |
| 2024<sup>(2)</sup> | 27.90 |  | 0.36 | 1.41 | 1.77 | (0.45) |  |  |
| 2023<sup>(2)</sup> | 39.15 |  | 0.45 | (11.28) | (10.83) | (0.42) |  |  |
| 2022<sup>(2)</sup> | 50.46 |  | 0.45 | (11.28) | (10.83) | (0.48) |  |  |
| 2021<sup>(2)</sup> | 44.61 |  | 0.69 | 6.15 | 6.84 | (0.90) | (0.09) |  |

---

---

| | |
|:---|:---|
| *\** | *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.* |
| *††* | *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 December 19, 2022. (See Note 9 in the Notes to Financial Statements.)* |
| *(2)* | *Per share amounts have been adjusted for a 1 for 3 reverse share split on August 29, 2025. (See Note 9 in the Notes to Financial Statements.)* |
|  | *Amounts designated as "—" are either $0 or have been rounded to $0.* |

---

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

*263*

![](logom4.jpg)

Financial Highlights

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Total from<br> Distributions ($)** | **Net<br> Asset Value,<br> End of<br> Period ($)** | **Total<br> Return<br> (%)\*\*** | **Net Assets, End of<br> Period ($)(000)** | **Ratio of Expenses<br> to Average Net<br> Assets (%)** | **Ratio of Net<br> Investment Income<br> to Average Net<br> Assets (%)** | **Portfolio<br> Turnover Rate<br> (%)<sup>††</sup>** |
| (1.62) | 29.22 | 26.06 | 38541 | 0.66 | 5.78 | 69.54 |
| (1.80) | 24.66 | 17.80 | 36234 | 0.66 | 6.70 | 88.93 |
| (1.83) | 22.48 | 13.77 | 41574 | 0.68 | 8.22 | 87.06 |
| (2.65) | 21.36 | (30.80) | 39168 | 0.67 | 5.88 | 101.78 |
| (2.22) | 33.78 | 25.83 | 62696 | 0.72 | 8.59 | 102.27 |
| (1.77) | 21.53 | 9.34 | 202141 | 0.58 | 6.52 | 44.38 |
| (1.67) | 21.42 | 24.41 | 220576 | 0.58 | 5.90 | 84.50 |
| (1.66) | 18.67 | (6.97) | 217653 | 0.59 | 5.90 | 92.84 |
| (1.80) | 21.65 | (21.21) | 286655 | 0.59 | 4.36 | 82.67 |
| (1.86) | 29.46 | 38.84 | 467934 | 0.58 | 3.99 | 59.44 |
| (0.31) | 33.25 | 15.08 | 26155 | 0.65 | 1.44 | 31.79 |
| (0.45) | 29.22 | 6.18 | 33981 | 0.65 | 1.20 | 16.51 |
| (0.42) | 27.90 | (27.93) | 43797 | 0.65 | 1.18 | 12.68 |
| (0.48) | 39.15 | (21.57) | 90970 | 0.66 | 1.01 | 18.33 |
| (0.99) | 50.46 | 15.37 | 146976 | 0.65 | 1.39 | 55.97 |

---

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

*264*

![](logom4.jpg)

Financial Highlights

---

| |
|:---|
| **Selected Per Share Data & Ratios** |
| **For a Share Outstanding Throughout the Period** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Net<br> Asset Value,<br> Beginning<br> of Period<br> ($)** | **Net Investment<br> Income (Loss)<br> ($)\*** | **Net Realized<br> and Unrealized<br> Gain (Loss)<br> ($)** | **Total from<br> Operations<br> ($)** | **Distribution<br> from Net<br> Investment<br> Income ($)** | **Distribution<br> from Capital<br> Gains ($)** | **Return of<br> Capital ($)** |
| **Global X S&P 500<sup>®</sup> Catholic Values ETF** |  |  |  |  |  |  |  |
| 2025 | 68.72 | 0.69 | 14.05 | 14.74 | (0.69) |  |  |
| 2024 | 50.89 | 0.70 | 17.80 | 18.50 | (0.67) |  |  |
| 2023 | 47.19 | 0.65 | 3.68 | 4.33 | (0.63) |  |  |
| 2022 | 57.22 | 0.61 | (9.99) | (9.38) | (0.57) | (0.08) |  |
| 2021 | 40.32 | 0.56 | 16.89 | 17.45 | (0.55) |  |  |
| **Global X MSCI SuperDividend<sup>®</sup> EAFE ETF** |  |  |  |  |  |  |  |
| 2025 | 14.84 | 0.91 | 3.66 | 4.57 | (0.95) |  |  |
| 2024 | 12.76 | 0.87 | 2.13 | 3.00 | (0.92) |  |  |
| 2023 | 11.98 | 0.78 | 0.92 | 1.70 | (0.92) |  |  |
| 2022 | 15.62 | 1.00 | (3.70) | (2.70) | (0.94) |  |  |
| 2021 | 11.44 | 0.79 | 4.10 | 4.89 | (0.71) |  |  |
| **Global X E-commerce ETF** |  |  |  |  |  |  |  |
| 2025 | 26.65 | 0.09 | 6.96 | 7.05 | (0.11) |  |  |
| 2024 | 16.96 | 0.06 | 9.69 | 9.75 | (0.06) |  |  |
| 2023 | 15.14 |  | 1.84 | 1.84 |  |  | (0.02) |
| 2022 | 31.19 | 0.08 | (15.97) | (15.89) | (0.05) | (0.10) | (0.01) |
| 2021 | 26.79 | (0.04) | 4.70 | 4.66 | (0.13) | (0.13) |  |

---

---

| | |
|:---|:---|
| *\** | *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.* |
| *††* | *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.* |
|  | *Amounts designated as "—" are either $0 or have been rounded to $0.* |

---

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

*265*

![](logom4.jpg)

Financial Highlights

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Total from<br> Distributions ($)** | **Net<br> Asset Value,<br> End of<br> Period ($)** | **Total<br> Return<br> (%)\*\*** | **Net Assets, End of<br> Period ($)(000)** | **Ratio of Expenses<br> to Average Net<br> Assets (%)** | **Ratio of Net<br> Investment Income<br> (Loss) to Average<br> Net Assets (%)** | **Portfolio<br> Turnover Rate<br> (%)<sup>††</sup>** |
| (0.69) | 82.77 | 21.59 | 1104164 | 0.29 | 0.94 | 9.79 |
| (0.67) | 68.72 | 36.53 | 899519 | 0.29 | 1.11 | 8.42 |
| (0.63) | 50.89 | 9.22 | 671797 | 0.29 | 1.28 | 6.70 |
| (0.65) | 47.19 | (16.53) | 549288 | 0.29 | 1.17 | 6.79 |
| (0.55) | 57.22 | 43.54 | 593985 | 0.29 | 1.09 | 8.29 |
| (0.95) | 18.46 | 32.01 | 33780 | 0.55 | 5.26 | 34.85 |
| (0.92) | 14.84 | 23.95 | 10831 | 0.55 | 5.98 | 64.02 |
| (0.92) | 12.76 | 14.08 | 10082 | 0.56 | 5.76 | 37.00 |
| (0.94) | 11.98 | (18.12) | 8384 | 0.57 | 6.89 | 34.00 |
| (0.71) | 15.62 | 43.05 | 14058 | 0.55 | 5.12 | 88.53 |
| (0.11) | 33.59 | 26.48 | 55755 | 0.50 | 0.30 | 19.38 |
| (0.06) | 26.65 | 57.51 | 56231 | 0.50 | 0.26 | 31.04 |
| (0.02) | 16.96 | 12.13 | 62069 | 0.50 | (0.02) | 26.67 |
| (0.16) | 15.14 | (51.19) | 42241 | 0.50 | 0.34 | 25.82 |
| (0.26) | 31.19 | 17.39 | 197751 | 0.50 | (0.11) | 14.64 |

---

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

*266*

![](logom4.jpg)

Financial Highlights

---

| |
|:---|
| **Selected Per Share Data & Ratios** |
| **For a Share Outstanding Throughout the Period** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Net<br> Asset Value,<br> Beginning<br> of Period<br> ($)** | **Net Investment<br> Income (Loss)<br> ($)\*** | **Net Realized<br> and Unrealized<br> Gain (Loss)<br> ($)** | **Total from<br> Operations<br> ($)** | **Distribution<br> from Net<br> Investment<br> Income ($)** | **Distribution<br> from Capital<br> Gains ($)** | **Return of<br> Capital ($)** |
| **Global X S&P Catholic Values Developed ex-U.S. ETF** |  |  |  |  |  |  |  |
| 2025 | 31.05 | 0.80 | 5.44 | 6.24 | (0.70) |  |  |
| 2024 | 25.87 | 0.74 | 5.44 | 6.18 | (1.00) |  |  |
| 2023 | 23.30 | 0.77 | 2.39 | 3.16 | (0.59) |  |  |
| 2022 | 32.80 | 0.77 | (9.11) | (8.34) | (0.79) | (0.37) |  |
| 2021 | 24.98 | 0.70 | 7.71 | 8.41 | (0.59) |  |  |
| **Global X NASDAQ 100<sup>®</sup> Tail Risk ETF** |  |  |  |  |  |  |  |
| 2025 | 30.08 | 0.16 | 6.96 | 7.12 | (0.17) |  |  |
| 2024 | 22.71 | 0.17 | 7.37 | 7.54 | (0.17) |  |  |
| 2023 | 19.08 | 0.07 | 3.63 | 3.70 | (0.07) |  |  |
| 2022 | 25.59 | 0.04 | (6.03) | (5.99) | (0.03) | (0.49) |  |
| 2021<sup>(1)</sup> | 25.13 | (0.01) | 0.47 | 0.46 |  |  |  |
| **Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF** |  |  |  |  |  |  |  |
| 2025 | 30.06 | 0.14 | 5.54 | 5.68 | (0.16) | (2.41) |  |
| 2024 | 23.47 | 0.18 | 6.59 | 6.77 | (0.18) |  |  |
| 2023 | 22.00 | 0.08 | 1.46 | 1.54 | (0.07) |  |  |
| 2022 | 25.78 | 0.04 | (3.38) | (3.34) | (0.02) | (0.42) |  |
| 2021<sup>(1)</sup> | 25.27 | (0.01) | 0.52 | 0.51 |  |  |  |

---

---

| | |
|:---|:---|
| *\** | *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 August 25, 2021.* |
| *(2)* | *Includes fees charged by the Fund custodian that were reimbursed by the custodian to the Fund subsequent to the reporting period. Excluding these fees, the ratio of expenses to average net assets would have been 0.61%.* |
|  | *Amounts designated as "—" are either $0 or have been rounded to $0.* |

---

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

*267*

Financial Highlights

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Total from<br> Distributions ($)** | **Net<br> Asset Value,<br> End of<br> Period ($)** | **Total<br> Return<br> (%)\*\*** | **Net Assets, End of<br> Period ($)(000)** | **Ratio of Expenses<br> to Average Net<br> Assets (%)** | **Ratio of Expenses<br> to Average Net<br> Assets (%)** | **Ratio of Net<br> Investment Income<br> (Loss) to Average<br> Net Assets (%)** | **Ratio of Net<br> Investment Income<br> (Loss) to Average<br> Net Assets (%)** | **Portfolio<br> Turnover Rate<br> (%)<sup>††</sup>** |
| (0.70) | 36.59 | 20.40 | 25977 | 0.35 |  | 2.41 |  | 12.92 |
| (1.00) | 31.05 | 24.02 | 12729 | 0.35 |  | 2.44 |  | 12.13 |
| (0.59) | 25.87 | 13.45 | 14485 | 0.35 |  | 2.80 |  | 13.64 |
| (1.16) | 23.30 | (26.11) | 5592 | 0.35 |  | 2.83 |  | 12.83 |
| (0.59) | 32.80 | 33.79 | 4264 | 0.35 |  | 2.22 |  | 17.17 |
| (0.17) | 37.03 | 23.76 | 3333 | 0.25 |  | 0.49 |  | 6.24 |
| (0.17) | 30.08 | 33.26 | 2707 | 0.25 |  | 0.61 |  | 5.84 |
| (0.07) | 22.71 | 19.42 | 1362 | 0.53 |  | 0.35 |  | 19.43 |
| (0.52) | 19.08 | (23.90) | 1908 | 0.61 |  | 0.19 |  | 13.88 |
|  | 25.59 | 1.83 | 3326 | 0.60 | † | (0.12) |)† | 1.71 |
| (2.57) | 33.17 | 20.00 | 3317 | 0.25 |  | 0.47 |  | 7.94 |
| (0.18) | 30.06 | 28.90 | 1804 | 0.25 |  | 0.66 |  | 9.99 |
| (0.07) | 23.47 | 7.01 | 2112 | 0.55 |  | 0.35 |  | 18.56 |
| (0.44) | 22.00 | (13.19) | 3081 | 0.62 | <sup>(2)</sup> | 0.18 |  | 9.89 |
|  | 25.78 | 2.06 | 2836 | 0.60 | † | (0.11) |)† | 2.11 |

---

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

*268*

![](logom4.jpg)

**Financial Highlights**

---

| |
|:---|
| **Selected Per Share Data & Ratios** |
| **For a Share Outstanding Throughout the Period** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Net <br> Asset Value,<br> Beginning <br> of Period <br> ($)** | **Net Investment <br> Income <br> ($)\*** | **Net Realized<br> and Unrealized <br> Gain (Loss) <br> ($)** | **Total from <br> Operations<br> ($)** | **Distribution <br> from Net<br> Investment <br> Income ($)** | **Distribution <br> from Capital<br> Gains ($)** | **Return of <br> Capital ($)** |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** | **Global X S&P 500<sup>®</sup> Tail Risk ETF** |  |  |  |  |  |  |
| 2025 | 32.15 | 0.30 | 4.29 | 4.59 | (0.32) | (5.34) |  |
| 2024 | 24.23 | 0.35 | 7.93 | 8.28 | (0.36) |  |  |
| 2023 | 23.21 | 0.27 | 1.00 | 1.27 | (0.25) |  |  |
| 2022 | 27.72 | 0.23 | (4.00) | (3.77) | (0.16) | (0.58) |  |
| 2021<sup>(1)</sup> | 27.33 | 0.03 | 0.36 | 0.39 |  |  |  |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** | **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |  |  |  |  |  |  |
| 2025 | 31.96 | 0.30 | 3.36 | 3.66 | (0.35) | (4.80) |  |
| 2024 | 24.68 | 0.34 | 7.30 | 7.64 | (0.36) |  |  |
| 2023 | 24.47 | 0.28 | 0.26 | 0.54 | (0.33) |  |  |
| 2022 | 27.57 | 0.23 | (2.77) | (2.54) | (0.16) | (0.40) |  |
| 2021<sup>(1)</sup> | 27.28 | 0.03 | 0.26 | 0.29 |  |  |  |
| **Global X Disruptive Materials ETF** | **Global X Disruptive Materials ETF** |  |  |  |  |  |  |
| 2025 | 16.12 | 0.18 | 8.29 | 8.47 | (0.23) |  |  |
| 2024 | 14.23 | 0.12 | 1.95 | 2.07 | (0.18) |  |  |
| 2023 | 18.07 | 0.34 | (3.88) | (3.54) | (0.30) |  |  |
| 2022<sup>(3)</sup> | 23.75 | 0.45 | (5.88) | (5.43) | (0.25) |  |  |

---

---

| | |
|:---|:---|
| *\** | *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 August 25, 2021.* |
| *(2)* | *Includes fees charged by the Fund custodian that were reimbursed by the custodian to the Fund subsequent to the reporting period. Excluding these fees, the ratio of expenses to average net assets would have been 0.61%.* |
| *(3)* | *The Fund commenced operations on January 24, 2022.*<br> *Amounts designated as "—" are either $0 or have been rounded to $0.* |

---

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

*269*

![](logom4.jpg)

**Financial Highlights**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Total from <br> Distributions ($)** | **Net<br> Asset Value,<br> End of <br> Period ($)** | **Total <br> Return <br> (%)\*\*** | **Net Assets, End of <br> Period ($)(000)** | **Ratio of Expenses <br> to Average Net <br> Assets (%)** | **Ratio of Expenses <br> to Average Net <br> Assets (%)** | **Ratio of Net <br> Investment Income <br> to Average Net <br> Assets (%)** | **Ratio of Net <br> Investment Income <br> to Average Net <br> Assets (%)** | **Portfolio <br> Turnover Rate <br> (%)<sup>††</sup>** |
| (5.66) | 31.08 | 16.60 | 2486 | 0.25 |  | 1.03 |  | 3.07 |
| (0.36) | 32.15 | 34.36 | 2572 | 0.25 |  | 1.19 |  | 3.45 |
| (0.25) | 24.23 | 5.51 | 2423 | 0.54 |  | 1.10 |  | 2.71 |
| (0.74) | 23.21 | (13.98) | 3017 | 0.61 |  | 0.92 |  | 7.40 |
|  | 27.72 | 1.43 | 3604 | 0.60 | † | 0.58 | † | 6.21 |
| (5.15) | 30.47 | 13.09 | 3656 | 0.25 |  | 1.04 |  | 20.62 |
| (0.36) | 31.96 | 31.11 | 1918 | 0.25 |  | 1.17 |  | 3.46 |
| (0.33) | 24.68 | 2.20 | 2221 | 0.55 |  | 1.11 |  | 3.09 |
| (0.56) | 24.47 | (9.40) | 3915 | 0.64 | <sup>(2)</sup> | 0.90 |  | 8.96 |
|  | 27.57 | 1.06 | 3308 | 0.60 | † | 0.58 | † | 6.44 |
| (0.23) | 24.36 | 53.32 | 10230 | 0.59 |  | 1.03 |  | 46.17 |
| (0.18) | 16.12 | 14.61 | 5965 | 0.59 |  | 0.83 |  | 22.42 |
| (0.30) | 14.23 | (19.96) | 7684 | 0.59 |  | 1.84 |  | 36.55 |
| (0.25) | 18.07 | (22.98) | 3433 | 0.60 | † | 2.72 | † | 25.34 |

---

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

*270*

![](logom4.jpg)

**Financial Highlights**

---

| |
|:---|
| **Selected Per Share Data & Ratios** |
| **For a Share Outstanding Throughout the Period** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Net <br> Asset Value,<br> Beginning <br> of Period <br> ($)** | **Net Investment <br> Income <br> ($)\*** | **Net Realized <br> and Unrealized <br> Gain <br> ($)** | **Total from <br> Operations <br> ($)** | **Distribution <br> from Net <br> Investment <br> Income ($)** | **Distribution <br> from Capital <br> Gains ($)** | **Return of <br> Capital ($)** |
| **Global X Russell 2000 ETF** |  |  |  |  |  |  |  |
| 2025 | 85.77 | 1.04 | 11.12 | 12.16 | (1.30) | (0.03) |  |
| 2024<sup>(1)</sup> | 79.35 | 0.47 | 6.30 | 6.77 | (0.35) |  |  |
| **Global X U.S. Electrification ETF** |  |  |  |  |  |  |  |
| 2025<sup>(2)</sup> | 24.64 | 0.42 | 5.91 | 6.33 | (0.38) |  |  |
| **Global X S&P 500 U.S. Market Leaders Top 50 ETF** |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | 25.15 | 0.21 | 2.43 | 2.64 | (0.04) |  |  |

---

---

| | |
|:---|:---|
| *\** | *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 4, 2024.* |
| *(2)* | *The Fund commenced operations on December 17, 2024.* |
| *(3)* | *The Fund commenced operations on April 15, 2025.* |
|  | *Amounts designated as "—" are either $0 or have been rounded to $0.* |

---

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

*271*

![](logom4.jpg)

**Financial Highlights**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Total from <br> Distributions ($)** | **Net <br> Asset Value,<br> End of <br> Period ($)** | **Total <br> Return <br> (%)\*\*** | **Net Assets, End of <br> Period ($)(000)** | **Ratio of Expenses <br> to Average Net <br> Assets (%)** | **Ratio of Expenses <br> to Average Net <br> Assets (%)** | **Ratio of Net <br> Investment Income <br> to Average Net <br> Assets (%)** | **Ratio of Net <br> Investment Income <br> to Average Net <br> Assets (%)** | **Portfolio <br> Turnover Rate <br> (%)<sup>††</sup>** |
| (1.33) | 96.60 | 14.35 | 1340806 | 0.08 |  | 1.20 |  | 13.42 |
| (0.35) | 85.77 | 8.53 | 1434940 | 0.08 | † | 1.36 | † | 7.75 |
| (0.38) | 30.59 | 25.93 | 247153 | 0.50 | † | 1.76 | † | 18.09 |
| (0.04) | 27.75 | 10.52 | 1665 | 0.29 | † | 1.47 | † | 24.90 |

---

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

*272*

![](logom4.jpg)

**Financial Highlights**

---

| |
|:---|
| **Selected Per Share Data & Ratios** |
| **For a Share Outstanding Throughout the Period** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Net<br> Asset Value, <br> Beginning<br> of Period <br> ($)** | **Net Investment <br> Income <br> ($)\*** | **Net Realized <br> and Unrealized <br> Gain <br> ($)** | **Total from <br> Operations <br> ($)** | **Distribution <br> from Net <br> Investment <br> Income ($)** | **Distribution <br> from Capital <br> Gains ($)** | **Return of <br> Capital ($)** |
| **Global X S&P 500 U.S. Revenue Leaders ETF** |  |  |  |  |  |  |  |
| 2025<sup>(1)</sup> | 24.91 | 0.19 | 4.22 | 4.41 | (0.08) |  |  |
| **Global X S&P 500<sup>®</sup> Christian Values ETF** |  |  |  |  |  |  |  |
| 2025<sup>(2)</sup> | 79.61 | 0.05 | 2.05 | 2.10 |  |  |  |

---

---

| | |
|:---|:---|
| *\** | *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 April 15, 2025.* |
| *(2)* | *The Fund commenced operations on September 23, 2025.* |
|  | *Amounts designated as "—" are either $0 or have been rounded to $0.* |

---

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

*273*

![](logom4.jpg)

**Financial Highlights**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Total from <br> Distributions ($)** | **Net<br> Asset Value, <br> End of<br> Period ($)** | **Total <br> Return <br> (%)\*\*** | **Net Assets, End of <br> Period ($)(000)** | **Ratio of Expenses <br> to Average Net <br> Assets (%)** | **Ratio of Expenses <br> to Average Net <br> Assets (%)** | **Ratio of Net <br> Investment Income<br> to Average Net <br> Assets (%)** | **Ratio of Net <br> Investment Income<br> to Average Net <br> Assets (%)** | **Portfolio<br> Turnover Rate <br> (%)<sup>††</sup>** |
| (0.08) | 29.24 | 17.71 | 2046 | 0.19 | † | 1.23 | † | 8.78 |
|  | 81.71 | 2.64 | 2451 | 0.29 | † | 0.59 | † | 1.12 |

---

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

*274*

![](logom4.jpg)

Notes to Financial Statements

October 31, 2025

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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 (the "1940 Act"), as amended, as an open-end management investment company. As of October 31, 2025, the Trust had one hundred eleven portfolios, one hundred two of which were operational. The financial statements herein and the related notes pertain to the Global X Lithium & Battery Tech ETF, Global X SuperDividend<sup>®</sup> ETF, Global X Social Media ETF, Global X Guru<sup>®</sup> Index ETF, Global X SuperIncome<sup>™</sup> Preferred ETF, Global X SuperDividend<sup>®</sup> U.S. ETF, Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF, Global X SuperDividend<sup>®</sup> REIT ETF, Global X Renewable Energy Producers ETF, Global X S&P 500<sup>®</sup> Catholic Values ETF, Global X MSCI SuperDividend<sup>®</sup> EAFE ETF, Global X E-commerce ETF, Global X S&P Catholic Values Developed ex-U.S. ETF, Global X NASDAQ 100<sup>®</sup> Tail Risk ETF, Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF, Global X S&P 500<sup>®</sup> Tail Risk ETF, Global X S&P 500<sup>®</sup> Collar 95-110 ETF, Global X Disruptive Materials ETF, Global X Russell 2000 ETF, Global X U.S. Electrification ETF, Global X S&P 500 U.S. Market Leaders Top 50 ETF, Global X S&P 500 U.S. Revenue Leaders ETF and Global X S&P 500<sup>®</sup> Christian Values ETF (each a "Fund", and collectively, the "Funds").

Each Fund (except the Global X SuperDividend<sup>®</sup> ETF, Global X SuperDividend<sup>®</sup> U.S. ETF, Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF, Global X MSCI SuperDividend<sup>®</sup> EAFE ETF, Global X SuperDividend<sup>®</sup> REIT ETF, Global X SuperIncome<sup>TM</sup> Preferred ETF, Global X Guru<sup>®</sup> Index ETF, Global X S&P 500<sup>®</sup> Catholic Values ETF, Global X S&P Catholic Values Developed ex-U.S. ETF, Global X S&P 500<sup>®</sup> Tail Risk ETF, Global X S&P 500<sup>®</sup> Collar 95-110 ETF, and Global X Russell 2000 ETF) has elected non-diversified status under the 1940 Act.

The Global X U.S. Electrification ETF commenced operations on December 17, 2024.

The Global X S&P 500 U.S. Revenue Leaders ETF and Global X S&P 500 U.S. Market Leaders Top 50 ETF commenced operations on April 15, 2025.

The Global X S&P 500<sup>®</sup> Christian Values ETF commenced operations on September 23, 2025.

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 ("FASB"). 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, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported

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Notes to Financial Statements (Continued)

October 31, 2025

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2. SIGNIFICANT ACCOUNTING POLICIES (continued)

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. 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 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

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Notes to Financial Statements (Continued)

October 31, 2025

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2. SIGNIFICANT ACCOUNTING POLICIES (continued)

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.

FOREIGN TAXES — 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. For the year ended October 31, 2025, the Global X MSCI SuperDividend® Emerging Markets ETF accrued foreign capital gains tax in the amount of $76,305 as shown on the Statements of Assets and Liabilities.

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, 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. 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.

Options traded on an exchange will be valued at the mean of the bid and ask quotations for the current day at the close of the market. If either the bid or the ask is not available, the last closing price will be used.

Securities for which market prices are not "readily available" are valued in accordance with fair value procedures (the "Fair Value Procedures") established by Global X Management Company LLC, the Funds' investment adviser (the "Adviser"), and approved by the Funds' Board of Trustees (the "Board"). Pursuant to Rule 2a-5 under the 1940 Act, the Board has designated the Adviser as the "valuation designee" to determine the fair value of securities and other instruments for which no readily available market quotations are available. The Fair Value Procedures are implemented through a fair value committee (the "Committee") of the Adviser. Some of the more common reasons that may necessitate that a security be valued using the Fair Value Procedures include: the security's trading has been halted or suspended; the security has been de-listed from its primary trading exchange; the security's primary trading market is temporarily closed at a time when, under normal conditions, it would be open; the security has not been traded for an extended period of time; the security's primary pricing source is not able or willing to provide a price; or trading of the security is subject to local government-imposed restrictions. In addition, each Fund may fair value a

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Notes to Financial Statements (Continued)

October 31, 2025

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2. SIGNIFICANT ACCOUNTING POLICIES (continued)

security if an event that may materially affect the value of the Funds' security that is traded outside the United States (a "Significant Event") has occurred between the time of the security's last close and the time that each Fund calculates its net asset value ("NAV"). A Significant Event may relate to a single issuer or to an entire market sector. Events that may be Significant Events include: government actions, natural disasters, armed conflict, acts of terrorism and significant market fluctuations. If the Adviser becomes aware of a Significant Event that has occurred with respect to a security or group of securities after the closing of the exchange or market on which the security or securities principally trade, but before the time at which the Funds calculate their NAVs, it may request that a Committee meeting be called. When a security is valued in accordance with the Fair Value Procedures, the Committee will determine the value after taking into consideration all relevant information reasonably available to the Committee.

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 by the Funds are provided daily by recognized independent pricing agents. If a security price cannot be obtained from an independent, third-party pricing agent, the Funds seek to obtain a bid price from at least one independent broker.

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 upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Accordingly, the fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

Level 1 – Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Funds have the ability to access at the measurement date;

Level 2 – Other significant observable inputs (including quoted prices in non-active markets, quoted prices for similar investments, fair value of investments for which the Funds have the ability to fully redeem tranches at NAV as of the measurement

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October 31, 2025

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2. SIGNIFICANT ACCOUNTING POLICIES (continued)

date or within the near term, and short-term investments valued at amortized cost); and

Level 3 – Significant unobservable inputs (including the Funds' own assumptions in determining the fair value of investments, and fair value of investments for which the Funds do not have the ability to fully redeem tranches at NAV as of the measurement date or within the near term).

Investments are classified within the level of the lowest significant input considered in determining fair value. Investments classified within Level 3 whose fair value measurement considers several inputs may include Level 1 or Level 2 inputs as components of the overall fair value measurement. For details of the investment classification, reference the Schedules of Investments.

The unobservable inputs used to determine fair value of Level 3 assets may have similar or diverging impacts on valuation. Significant increases and decreases in these inputs in isolation and interrelationships between those inputs could result in significantly higher or lower fair value measurement.

DUE TO/FROM BROKERS — Due to/from brokers includes cash and collateral balances with the Funds' clearing brokers or counterparties as of October 31, 2025. The Funds continuously monitor the credit standing of each broker or counterparty with whom they conduct business. In the event a broker or counterparty is unable to fulfill its obligations, the Funds would be subject to counterparty credit risk.

REPURCHASE AGREEMENTS — Securities pledged as collateral for repurchase agreements are held by Brown Brothers Harriman & Co. ("BBH") or The Bank of New York Mellon ("BNY"), as appropriate, in their roles as Custodian to respective Funds (each, a "Custodian" and together, the "Custodians"), and are designated as being held on each Fund's behalf by the Custodian under a book-entry system. Each Fund monitors the adequacy of the collateral on a daily basis and can require the seller to provide additional collateral in the event the market value of the securities pledged falls below the carrying value of the repurchase agreement, including accrued interest.

It is each Fund's policy to only enter into repurchase agreements with banks and other financial institutions which are deemed by the Adviser to be creditworthy. The Funds bear the risk of loss in the event that the counterparty to a repurchase agreement defaults on its obligations and the Funds are prevented from exercising their rights to dispose of the underlying securities received as collateral. For financial statement purposes, the Funds record the securities lending collateral (included in repurchase agreements, at value or

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Notes to Financial Statements (Continued)

October 31, 2025

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2. SIGNIFICANT ACCOUNTING POLICIES (continued)

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 ("MRAs") which permit the Funds, under certain circumstances, including an event of default (such as bankruptcy or insolvency), to offset payables and/or receivables under the MRA with collateral held and/or posted to the counterparty and create one single net payment due to or from the Funds.

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 percent) 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.

If a Fund has foreign tax filings that have not been made, the tax years that remain subject to examination may date back to the inception of the Fund.

As of and during the reporting year ended October 31, 2025, 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 an income tax expense on the Statements of Operations. During the reporting period, the Funds did not incur any interest or penalties.

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.

FOREIGN CURRENCY TRANSACTIONS AND TRANSLATION — The books and records of the Funds are maintained in U.S. dollars. Investment securities and other assets

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Notes to Financial Statements (Continued)

October 31, 2025

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2. SIGNIFICANT ACCOUNTING POLICIES (continued)

and liabilities denominated in a foreign currency are translated into U.S. dollars on the date of valuation. Purchases and sales of investment securities, income and expenses are translated into U.S. dollars at the relevant rates of exchange prevailing on the respective dates of such transactions. The Funds do not isolate that portion of realized or unrealized gains and losses resulting from changes in the foreign exchange rate from fluctuations arising from changes in the market prices of the securities. These gains and losses are included in net realized and unrealized gains and losses on investments on the Statements of Operations. Net realized and unrealized gains and losses on foreign currency transactions and translations represent net foreign exchange gains or losses from foreign currency spot contracts, disposition of foreign currencies, currency gains or losses realized between trade and settlement dates on securities transactions and the difference between the amount of the investment income and foreign withholding taxes recorded on the Funds' books and the U.S. dollar equivalent amounts actually received or paid.

FUTURES CONTRACTS — To the extent consistent with its investment objective and strategies, each Fund may use futures contracts for tactical hedging purposes as well as to enhance the Fund's returns. Initial margin deposits of cash or securities are made upon entering into futures contracts. The contracts are marked to market daily and the resulting changes in value are accounted for as unrealized gains and losses. Variation margin payments are paid or received, depending upon whether unrealized gains or losses are incurred. When the contract is closed, the Fund records a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the amount invested in the contract.

Risks of entering into futures contracts include the possibility that there will be an imperfect price correlation between the futures and the underlying securities. It is possible that a lack of liquidity for futures contracts could exist in the secondary market, resulting in an inability to close a position prior to its maturity date. A futures contract involves the risk that the Fund could lose more than the original margin deposit required to initiate a futures transaction.

Futures contracts shall be valued at the settlement price established each day by the board of the exchange on which they are traded. The daily settlement prices for financial futures are provided by an independent source.

Finally, the risk exists that losses could exceed amounts disclosed on the Statements of Assets and Liabilities. Refer to the Funds' Schedule of Investments for details regarding open futures contracts as of October 31, 2025, if applicable.

DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS — The Funds distribute their net investment income on a pro rata basis. Any net investment income and net realized capital gains are distributed at least annually. All distributions are recorded on the ex-dividend date.

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Notes to Financial Statements (Continued)

October 31, 2025

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2. SIGNIFICANT ACCOUNTING POLICIES (continued)

INVESTMENTS IN REITs — With respect to the Funds, dividend income is recorded based on the income included in distributions received from REIT investments using published REIT reclassifications, including some management estimates when actual amounts are not available. Distributions received in excess of these estimated amounts are recorded as a reduction of the cost of investments or reclassified to capital gains. The actual amounts of income, return of capital, and capital gains are only determined by each REIT after its fiscal year end, and may differ from the estimated amounts.

CREATION UNITS — The Funds issue and redeem their shares ("Shares") on a continuous basis at NAV and only in large blocks of 10,000 Shares, referred to as "Creation Units". Purchasers of Creation Units (each, an "Authorized Participant") 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 the Fund's 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:

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| | | | |
|:---|:---|:---|:---|
|  | **Creation<br> Unit <br> Shares** | **Creation<br> Fee** | **Redemption<br> Fee** |
| Global X Lithium & Battery Tech ETF | 10000 | $600 | $600 |
| Global X SuperDividend<sup>®</sup> ETF | 10000 | 900 | 900 |
| Global X Social Media ETF | 10000 | 250 | 250 |
| Global X Guru<sup>®</sup> Index ETF | 10000 | 250 | 250 |
| Global X SuperIncome<sup>™</sup> Preferred ETF | 10000 | 250 | 250 |
| Global X SuperDividend<sup>®</sup> U.S. ETF | 10000 | 150 | 150 |
| Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF | 10000 | 900 | 900 |
| Global X SuperDividend<sup>®</sup> REIT ETF | 10000 | 250 | 250 |
| Global X Renewable Energy Producers ETF | 10000 | 400 | 400 |
| Global X S&P 500<sup>®</sup> Catholic Values ETF | 10000 | 1400 | 1400 |
| Global X MSCI SuperDividend<sup>®</sup> EAFE ETF | 10000 | 300 | 300 |
| Global X E-commerce ETF | 10000 | 250 | 250 |
| Global X S&P Catholic Values Developed ex-U.S. ETF | 10000 | 2300 | 2300 |
| Global X NASDAQ 100<sup>®</sup> Tail Risk ETF | 10000 | 250 | 250 |
| Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF | 10000 | 300 | 300 |
| Global X S&P 500<sup>®</sup> Tail Risk ETF | 10000 | 800 | 800 |
| Global X S&P 500<sup>®</sup> Collar 95-110 ETF | 10000 | 1700 | 1700 |
| Global X Disruptive Materials ETF | 10000 | 400 | 400 |
| Global X Russell 2000 ETF | 10000 | 2500 | 2500 |
| Global X U.S. Electrification ETF | 10000 | 250 | 250 |

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Notes to Financial Statements (Continued)

October 31, 2025

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2. SIGNIFICANT ACCOUNTING POLICIES (continued)

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| | | | |
|:---|:---|:---|:---|
|  | **Creation<br> Unit<br> Shares** | **Creation<br> Fee** | **Redemption<br> Fee** |
| Global X S&P 500 U.S. Market Leaders Top 50 ETF | 10000 | $250 | $250 |
| Global X S&P 500 U.S. Revenue Leaders ETF | 10000 | 500 | 500 |
| Global X S&P 500<sup>®</sup> Christian Values ETF | 10000 | 1400 | 1400 |

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CASH OVERDRAFT CHARGES — Per the terms of an agreement with BBH, if a Fund for which BBH is Custodian has a cash overdraft on a given day, it will be assessed an overdraft charge equal to the applicable BBH Base Rate plus 2.00%. Per the terms of an agreement with BNY, if a Fund for which BNY is Custodian has a cash overdraft, it will be charged interest at a rate then charged by BNY to its institutional custody clients in the relevant currency. Cash overdraft charges are included in Custodian Fees Payable on the Statements of Assets and Liabilities and Custodian Fees on the Statements of Operations, if applicable.

OPTIONS/SWAPTIONS WRITING/PURCHASING — To the extent consistent with their investment policies, certain Funds may either purchase or write options.

When a Fund purchases an option, the premium paid by it is recorded as an asset of the Fund. When a Fund writes an option, an amount equal to the net premium (the premium less the commission) received by the Fund is included in the liability section of the Fund's Statements of Assets and Liabilities as a deferred credit. The amount of this asset or deferred credit will be subsequently marked-to-market to reflect the current value of the option purchased or written. The current value of the traded option is the last sale price or, in the absence of a sale, the current bid price. If an option purchased by a Fund expires unexercised, the Fund realizes a loss equal to the premium paid. If a Fund enters into a closing sale transaction on an option purchased by it, the Fund will realize a gain if the premium received by the Fund on the closing transaction is more than the premium paid to purchase the option, or a loss if it is less. If an option written by a Fund expires on the stipulated expiration date or if a Fund enters into a closing purchase transaction, it will realize a gain (or loss if the cost of a closing purchase transaction exceeds the net premium received when the option is sold) and the deferred credit related to such option will be eliminated. If an option written by a Fund is exercised, the proceeds of the sale will be increased by the net premium originally received and the Fund will realize a gain or loss.

Risks may arise from an imperfect correlation between the change in market value of the securities held and the prices of options relating to the securities purchased or sold and from possible lack of a liquid secondary market for an option. The maximum exposure to loss for any purchased option is limited to the premium initially paid for the option. Written uncovered call options subject a Fund to unlimited risk of loss. Written covered call options limit the upside potential of a security above the strike price. Written put options expose a Fund to risk of loss if the value of the security declines below the strike price.

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Notes to Financial Statements (Continued)

October 31, 2025

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2. SIGNIFICANT ACCOUNTING POLICIES (continued)

The Global X NASDAQ 100<sup>®</sup> Tail Risk ETF, Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF, Global X S&P 500<sup>®</sup> Tail Risk ETF and Global X S&P 500<sup>®</sup> Collar 95-110 ETF may write call and/or put options that correspond to their respective reference index. By writing a call option, a Fund, in exchange for the premium, foregoes the opportunity for capital appreciation above the strike price should the market price of the underlying security increase. Conversely, by writing a put option, the Fund, in exchange for the premium, accepts the risk of having to purchase a security at a fixed strike price even should the price of the underlying security decrease, exposing the Fund to downside risk in the underlying security.

When the written option expires, is terminated or is sold, a Fund will record a gain or loss. The net realized gain or loss on options contracts is reflected in the Statements of Operations and the net unrealized gains/(losses) are included as a component of the net change in unrealized appreciation/(depreciation) on options contracts in the Statements of Operations.

SEGMENT REPORTING — The Funds have adopted FASB Update 2023-07, Segment Reporting (Topic 280) — Improvements to Reportable Segment Disclosures ("ASU 2023-07") during the period, with the intent of improving reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole, thereby enabling better understanding of how an entity's segments impact overall performance. The Funds' adoption of ASU 2023-07 impacted financial statement disclosures only and did not affect the Funds' financial position or results of operations.

The Adviser's Chief Financial Officer acts as each Fund's Chief Operating Decision Maker ("CODM") and is responsible for assessing performance and allocating resources with respect to the Funds. The CODM has concluded that each Fund operates as a single operating segment since each Fund has a single investment strategy as disclosed in its prospectus, against which the CODM assesses performance. The financial information provided to and reviewed by the CODM is presented within each Fund's financial statements.

3. RELATED PARTIES 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.

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

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Notes to Financial Statements (Continued)

October 31, 2025

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3. RELATED PARTIES AND SERVICE PROVIDER TRANSACTIONS (continued)

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 service to the respective Funds, under a supervision and administration agreement (the "Supervision and Administration Agreement"), each Fund pays a monthly fee to the Adviser at the annual rate below (stated as a percentage of each Fund's respective average daily net assets) (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, commissions, certain Custodian fees, acquired fund fees, and other transaction expenses, interest expenses and extraordinary expenses (such as litigation and indemnification expenses).

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Notes to Financial Statements (Continued)

October 31, 2025

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3. RELATED PARTIES AND SERVICE PROVIDER TRANSACTIONS (continued)

The following table discloses supervision and administration fees payable pursuant to the Supervision and Administration Agreement:

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| | |
|:---|:---|
|  | **Supervision and**<br> **Administration Fee** |
| Global X Lithium & Battery Tech ETF | 0.75% |
| Global X SuperDividend<sup>®</sup> ETF<sup>(1)</sup> | 0.58% |
| Global X Social Media ETF | 0.65% |
| Global X Guru<sup>®</sup> Index ETF | 0.75% |
| Global X SuperIncome<sup>TM</sup> Preferred ETF | 0.48% |
| Global X SuperDividend<sup>®</sup> U.S. ETF | 0.45% |
| Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF | 0.65% |
| Global X SuperDividend<sup>®</sup> REIT ETF | 0.58% |
| Global X Renewable Energy Producers ETF | 0.65% |
| Global X S&P 500<sup>®</sup> Catholic Values ETF | 0.29% |
| Global X MSCI SuperDividend<sup>®</sup> EAFE ETF | 0.55% |
| Global X E-commerce ETF | 0.50% |
| Global X S&P 500<sup>®</sup> Catholic Values Developed ex-U.S. ETF | 0.35% |
| Global X NASDAQ 100<sup>®</sup> Tail Risk ETF | 0.25% |
| Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF | 0.25% |
| Global X S&P 500<sup>®</sup> Tail Risk ETF | 0.25% |
| Global X S&P 500<sup>®</sup> Collar 95-110 ETF | 0.25% |
| Global X Disruptive Materials ETF | 0.59% |
| Global X Russell 2000 ETF | 0.08% |
| Global X U.S. Electrification ETF | 0.50% |
| Global X S&P 500 U.S. Market Leaders Top 50 ETF | 0.29% |
| Global X S&P 500 U.S. Revenue Leaders ETF | 0.19% |
| Global X S&P 500<sup>®</sup> Christian Values ETF | 0.29% |

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<sup>(1)</sup> Pursuant to an Expense Limitation Agreement, the Adviser has contractually agreed to reimburse or waive fees and/or limit expenses for the Global X SuperDividend® ETF to the extent necessary to assure that the operating expenses of the Global X SuperDividend® ETF (exclusive of taxes, brokerage fees, commissions, and other transaction expenses and extraordinary expenses (such as litigation and indemnification expenses)) will not exceed 0.58% of the average daily net assets of the Global X SuperDividend® ETF per year until at least March 1, 2026.

SEI Investments Global Funds Services ("SEIGFS") serves as sub-administrator to the Funds. As sub-administrator, SEIGFS provides the Funds with all required general

*286*

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Notes to Financial Statements (Continued)

October 31, 2025

------

3. RELATED PARTIES AND SERVICE PROVIDER TRANSACTIONS (continued)

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 the Funds' underwriter and distributor of Creation Units pursuant to a distribution agreement (the "Distribution Agreement"). SIDCO has no obligation to sell any specific quantity of Shares of the Funds.

SIDCO bears the following costs and expenses relating to the distribution of Shares: (i) the costs of processing and maintaining records of creations of Creation Units; (ii) all costs of maintaining the records required of a registered broker/dealer; (iii) the expenses of maintaining its registration or qualification as a dealer or broker under federal or state laws; (iv) filing fees; and (v) 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 Global X Guru<sup>®</sup> Index ETF, Global X SuperIncome™ Preferred ETF, Global X S&P 500<sup>®</sup> Catholic Values ETF, Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF, Global X S&P 500<sup>®</sup> Collar 95-110 ETF, Global X Russell 2000 ETF, Global X U.S. Electrification ETF, Global X S&P 500 U.S. Market Leaders Top 50 ETF, Global X S&P 500 U.S. Revenue Leaders ETF and the Global X S&P 500® Christian Values ETF. For the Funds for which it serves as Custodian, BBH has agreed to (i) make receipts and disbursements of money on behalf of the Funds; (ii) collect and receive all income and other payments and distributions on account of the Funds' portfolio investments; (iii) respond to correspondence from shareholders, security brokers and others relating to its duties; and (iv) make periodic reports to the Funds concerning the Funds' operations. BBH does not exercise any supervisory function over the purchase and sale of securities. As compensation for these services, BBH receives certain out-of-pocket costs, transaction fees and asset-based fees which are accrued daily and paid monthly by the Adviser from its fees. For the Funds which it serves as transfer agent, BBH has agreed to (i) issue and redeem Shares of each Fund; (ii) make dividend and other distributions to shareholders of each Fund; (iii) respond to correspondence by shareholders and others relating to its duties; (iv) maintain shareholder accounts; and (v) 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.

*287*

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Notes to Financial Statements (Continued)

October 31, 2025

------

3. RELATED PARTIES AND SERVICE PROVIDER TRANSACTIONS (continued)

For all Funds other than the Global X Guru<sup>®</sup> Index ETF, Global X SuperIncome<sup>™</sup> Preferred ETF, Global X S&P 500<sup>®</sup> Catholic Values ETF, Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF, Global X S&P 500<sup>®</sup> Collar 95-110 ETF and the Global X Russell 2000 ETF, BNY serves as Custodian and Transfer Agent to the Trust on behalf of the Funds. As Custodian, BNY may appoint domestic and foreign sub-custodians and use depositories from time to time to hold securities and other instruments purchased by the Trust in foreign countries and to hold cash and currencies for the Trust on behalf of the Funds. Under its transfer agency agreement with the Trust, BNY has undertaken with the Trust to provide the following services with respect to the Funds for which it serves as Transfer Agent: (i) perform and facilitate the performance of purchases and redemptions of Creation Units, (ii) prepare and transmit by means of Depository Trust Company's ("DTC") book-entry system payments for dividends and distributions on or with respect to the Shares declared by the Trust on behalf of the Funds, as applicable, (iii) prepare and deliver reports, information and documents as specified in the transfer agency agreement, (iv) perform the customary services of a Transfer Agent and dividend disbursing agent, and (v) render certain other miscellaneous services as specified in the transfer agency agreement or as otherwise agreed upon.

4. INVESTMENT TRANSACTIONS

For the year ended October 31, 2025, the purchases and sales of investments in securities, excluding in-kind transactions, long-term U.S. Government and short-term securities were:

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales and<br> Maturities** |
| Global X Lithium & Battery Tech ETF | $542835116 | $668936538 |
| Global X SuperDividend<sup>®</sup> ETF | 651791548 | 573397325 |
| Global X Social Media ETF | 16105288 | 12669989 |
| Global X Guru<sup>®</sup> Index ETF | 42747502 | 42136630 |
| Global X SuperIncome™ Preferred ETF | 102087376 | 102913792 |
| Global X SuperDividend<sup>®</sup> U.S. ETF | 270900438 | 286489712 |
| Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF | 25326707 | 27125683 |
| Global X SuperDividend<sup>®</sup> REIT ETF | 86017408 | 85727216 |
| Global X Renewable Energy Producers ETF | 8357035 | 9379961 |
| Global X S&P 500<sup>®</sup> Catholic Values ETF | 94406399 | 94180318 |
| Global X MSCI SuperDividend<sup>®</sup> EAFE ETF | 9589884 | 6033694 |
| Global X E-commerce ETF | 13291898 | 12919608 |
| Global X S&P Catholic Values Developed ex-U.S. ETF | 7345085 | 2634235 |
| Global X NASDAQ 100<sup>®</sup> Tail Risk ETF | 182006 | 332847 |
| Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF | 192355 | 620734 |
| Global X S&P 500<sup>®</sup> Tail Risk ETF | 62961 | 559643 |
| Global X S&P 500<sup>®</sup> Collar 95-110 ETF | 591548 | 1107256 |
| Global X Disruptive Materials ETF | 3417882 | 2421680 |
| Global X Russell 2000 ETF | 191295337 | 196865726 |
| Global X U.S. Electrification ETF | 19084113 | 18675000 |
| Global X S&P 500 U.S. Market Leaders Top 50 ETF | 605352 | 587845 |

---

*288*

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Notes to Financial Statements (Continued)

October 31, 2025

------

4. INVESTMENT TRANSACTIONS (continued)

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales and <br> Maturities** |
| Global X S&P 500 U.S. Revenue Leaders ETF | $193856 | $187862 |
| Global X S&P 500<sup>®</sup> Christian Values ETF | 18268 | 18110 |

---

During the year ended October 31, 2025, there were no purchases or sales of long-term U.S. Government securities for the Funds.

For the year ended October 31, 2025, in-kind transactions associated with creations and redemptions were:

---

| | | | |
|:---|:---|:---|:---|
|  | **Purchases** | **Sales** | **Realized<br> Gain (Loss)** |
| Global X Lithium & Battery Tech ETF | $64690905 | $247794802 | $27059463 |
| Global X SuperDividend<sup>®</sup> ETF | 103741819 | 36621909 | 16771742 |
| Global X Social Media ETF | 14863415 | 29501794 | 10566240 |
| Global X Guru<sup>®</sup> Index ETF | 36587844 | 37957430 | 10758721 |
| Global X SuperIncome™ Preferred ETF | 27052501 | 37832319 | 1088341 |
| Global X SuperDividend<sup>®</sup> U.S. ETF | 332596690 | 299610248 | 73527399 |
| Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF |  | 2291730 | 317766 |
| Global X SuperDividend<sup>®</sup> REIT ETF | 10584962 | 30435503 | 419318 |
| Global X Renewable Energy Producers ETF |  | 8702630 | (2831886) |
| Global X S&P 500<sup>®</sup> Catholic Values ETF | 192041831 | 170547088 | 88377564 |
| Global X MSCI SuperDividend<sup>®</sup> EAFE ETF | 18896343 | 2330021 | 144658 |
| Global X E-commerce ETF | 31768522 | 48321907 | 15390988 |
| Global X S&P Catholic Values Developed ex-U.S. ETF | 11745923 | 6872226 | 1972302 |
| Global X NASDAQ 100<sup>®</sup> Tail Risk ETF | 970429 | 850811 | 221958 |
| Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF | 2540124 | 1274984 | 533910 |
| Global X S&P 500<sup>®</sup> Tail Risk ETF | 536719 | 557377 | 153688 |
| Global X S&P 500<sup>®</sup> Collar 95-110 ETF | 6711139 | 5194960 | 589149 |
| Global X Disruptive Materials ETF | 3306185 | 1995796 | 234820 |
| Global X Russell 2000 ETF | 374676158 | 623288030 | 135339234 |
| Global X U.S. Electrification ETF | 284492813 | 62507088 | 10124910 |
| Global X S&P 500 U.S. Market Leaders Top 50 ETF | 3920138 | 2529606 | 328509 |
| Global X S&P 500 U.S. Revenue Leaders ETF | 4132206 | 2457604 | 249436 |
| Global X S&P 500<sup>®</sup> Christian Values ETF | 2392773 |  |  |

---

5. DERIVATIVE TRANSACTIONS

The following tables show the derivatives categorized by underlying risk exposure.

The following tables show the fair value of the derivative financial instruments and the location in the Statements of Assets and Liabilities categorized by underlying risk exposure as of October 31, 2025.

*289*

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Notes to Financial Statements (Continued)

**October 31, 2025**

------

5. DERIVATIVE TRANSACTIONS (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Asset Derivatives | Asset Derivatives | Asset Derivatives | Asset Derivatives | Liability Derivatives | Liability Derivatives | Liability Derivatives |
|  |  | Fair Value |  |  |  | Fair Value |
| **Global X SuperDividend<sup>®</sup> ETF** | **Global X SuperDividend<sup>®</sup> ETF** |  |  |  |  |  |
| Equity contracts | Unrealized appreciation on Futures Contracts | $105949 | \* | Equity contracts | Unrealized depreciation on Futures Contracts | $(12802) \* |
| Total Derivatives not accounted for as hedging instruments | Total Derivatives not accounted for as hedging instruments | $105949 |  |  |  | $(12802) |
| **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** | **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** |  |  |  |  |  |
| Equity contracts | Unrealized appreciation on Futures Contracts | $8113 | \* | Equity contracts | Unrealized depreciation on Futures Contracts | $– \* |
| Total Derivatives not accounted for as hedging instruments | Total Derivatives not accounted for as hedging instruments | $8113 |  |  |  | $– |
| **Global X SuperDividend<sup>®</sup> REIT ETF** | **Global X SuperDividend<sup>®</sup> REIT ETF** |  |  |  |  |  |
| Equity contracts | Unrealized appreciation on Futures Contracts | $– | \* | Equity contracts | Unrealized depreciation on Futures Contracts | $(25812) \* |
| Total Derivatives not accounted for as hedging instruments | Total Derivatives not accounted for as hedging instruments | $– |  |  |  | $(25812) |
| **Global X NASDAQ 100<sup>®</sup> Tail Risk ETF** | **Global X NASDAQ 100<sup>®</sup> Tail Risk ETF** |  |  |  |  |  |
| Equity contracts | Investments, at value | $11493 | \*\* | Equity contracts | Options written, at value | $– |
| Total Derivatives not accounted for as hedging instruments | Total Derivatives not accounted for as hedging instruments | $11493 |  |  |  | $– |
| **Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF** | **Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF** |  |  |  |  |  |
| Equity contracts | Investments, at value | $22117 | \*\* | Equity contracts | Options written, at value | $40366 |
| Total Derivatives not accounted for as hedging instruments | Total Derivatives not accounted for as hedging instruments | $22117 |  |  |  | $40366 |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** | **Global X S&P 500<sup>®</sup> Tail Risk ETF** |  |  |  |  |  |
| Equity contracts | Investments, at value | $6960 | \*\* | Equity contracts | Options written, at value | $– |
| Total Derivatives not accounted for as hedging instruments | Total Derivatives not accounted for as hedging instruments | $6960 |  |  |  | $– |

---

*290*

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Notes to Financial Statements (Continued)

**October 31, 2025**

------

5. DERIVATIVE TRANSACTIONS (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Asset Derivatives | Asset Derivatives | Asset Derivatives | Asset Derivatives | Liability Derivatives | Liability Derivatives | Liability Derivatives |
|  |  | Fair Value |  |  |  | Fair Value |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** | **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |  |  |  |  |  |
| Equity contracts | Investments, at value | $20712 | \*\* | Equity contracts | Options written, at value | $7054 |
| Total Derivatives not accounted for as hedging instruments | Total Derivatives not accounted for as hedging instruments | $20712 |  |  |  | $7054 |
| **Global X Russell 2000 ETF** | **Global X Russell 2000 ETF** |  |  |  |  |  |
| Equity contracts | Unrealized appreciation on Futures Contracts | $44150 | \* | Equity contracts | Unrealized depreciation on Futures Contracts | $– \* |
| Total Derivatives not accounted for as hedging instruments | Total Derivatives not accounted for as hedging instruments | $44150 |  |  |  | $– |

---

\*Includes cumulative appreciation/depreciation of futures contracts as reported in the Schedules of Investments. Only current day's variation margin, if any, is reported within the Statements of Assets and Liabilities.

\*\*Includes purchased options and/or swaptions.

The effect of derivative instruments on the Statements of Operations for the year ended October 31, 2025:

Amount of realized gain (loss) on derivatives reported within the income section of Statements of Operations:

---

| | | | |
|:---|:---|:---|:---|
| | Purchased<br> Options | Written<br> Options | Futures<br> Contracts |
| **Global X SuperDividend<sup>®</sup> ETF** |  |  |  |
| Equity contracts | $— | $— | $1128468 |
| **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** |  |  |  |
| Equity contracts | $— | $— | $64399 |
| **Global X SuperDividend<sup>®</sup> REIT ETF** |  |  |  |
| Equity contracts | $— | $— | $12421 |
| **Global X NASDAQ 100<sup>®</sup> Tail Risk ETF** |  |  |  |
| Equity contracts | $(134786) | $— | $— |
| **Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF** |  |  |  |
| Equity contracts | $(85648) | $(110332) | $— |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** |  |  |  |
| Equity contracts | $(75500) | $25 | $— |

---

*291*

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Notes to Financial Statements (Continued)

**October 31, 2025**

------

5. DERIVATIVE TRANSACTIONS (continued)

---

| | | | |
|:---|:---|:---|:---|
| | Purchased<br> Options | Written<br> Options | |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |  |  |  |
| Equity contracts | $(294565) | $(30773) | $— |
| **Global X Russell 2000 ETF** |  |  |  |
| Equity contracts | $— | $— | $(287089) |

---

Change in unrealized appreciation (depreciation) on derivatives reported within the income section of Statements of Operations:

---

| | | | |
|:---|:---|:---|:---|
| | Purchased<br> Options | Written<br> Options | Futures<br> Contracts |
| **Global X SuperDividend<sup>®</sup> ETF** |  |  |  |
| Equity contracts | $— | $— | $170776 |
| **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** |  |  |  |
| Equity contracts | $— | $— | $11205 |
| **Global X SuperDividend<sup>®</sup> REIT ETF** |  |  |  |
| Equity contracts | $— | $— | $27634 |
| **Global X NASDAQ 100<sup>®</sup> Tail Risk ETF** |  |  |  |
| Equity contracts | $(13133) | $— | $— |
| **Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF** |  |  |  |
| Equity contracts | $(25885) | $(30711) | $— |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** |  |  |  |
| Equity contracts | $(10189) | $— | $— |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |  |  |  |
| Equity contracts | $(23452) | $(3607) | $— |
| **Global X Russell 2000 ETF** |  |  |  |
| Equity contracts | $— | $— | $56222 |

---

The following table discloses the average monthly balances of the Funds' futures activity during the year ended October 31, 2025:

---

| | | |
|:---|:---|:---|
|  | **Average Notional<br> Balance Short** | **Average Notional<br> Balance Long** |
| Global X SuperDividend<sup>®</sup> ETF | $- | $5688024 |
| Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF |  | 162433 |
| Global X SuperDividend<sup>®</sup> REIT ETF |  | 1192327 |
| Global X Russell 2000 ETF |  | 3615245 |

---

*292*

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Notes to Financial Statements (Continued)

**October 31, 2025**

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5. DERIVATIVE TRANSACTIONS (continued)

The following table discloses the average monthly balances of the Funds' options activity during the year ended October 31, 2025:

---

| | | |
|:---|:---|:---|
|  | **Average Market<br> Value Contracts<br> Written** | **Average Market<br> Value Contracts<br> Purchased** |
| Global X NASDAQ 100<sup>®</sup> Tail Risk ETF | $- | $34678 |
| Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF | (20975) | 43155 |
| Global X S&P 500<sup>®</sup> Tail Risk ETF | (90) | 17417 |
| Global X S&P 500<sup>®</sup> Collar 95-110 ETF | (5635) | 42349 |

---

6. TAX INFORMATION

The Global X SuperDividend<sup>®</sup> REIT ETF has a tax year that ends on December 31. The following tax disclosures are representative as of October 31, 2025. Accordingly, the disclosures are for informational use by shareholders and are subject to changes attributable to activity through the end of the tax year ending December 31, 2025.

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 differences have been reclassified on the Statements of Assets and Liabilities to/from the Paid-in-Capital and Total Earnings (Accumulated Losses) accounts during the fiscal year ended October 31, 2025 are primarily attributable to preferred stock interest, foreign currency, redemptions in-kind, REIT adjustments, MLP adjustments, return of capital distributions, and sales of passive foreign investment companies.

The tax character of dividends and distributions declared during the years or period ended October 31, 2025 and October 31, 2024 were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Global X Funds** | **Ordinary<br> Income** | **Long-Term<br> Capital Gain** | **Return of Capital** | **Totals** |
| &nbsp;&nbsp;Global X Lithium & Battery Tech ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $6394452 | $– | $– | $6394452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 22783171 |  |  | 22783171 |
| &nbsp;&nbsp;Global X SuperDividend<sup>®</sup> ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $88083476 | $– | $– | $88083476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 82970679 |  |  | 82970679 |
| &nbsp;&nbsp;Global X Social Media ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $280236 | $– | $– | $280236 |

---

*293*

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Notes to Financial Statements (Continued)

**October 31, 2025**

------

6. TAX INFORMATION (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Global X Funds** | **Ordinary<br> Income** | **Long-Term<br> Capital Gain** | **Return of Capital** | **Totals** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 378226 |  | 173861 | 552087 |
| &nbsp;&nbsp;Global X Guru<sup>®</sup> Index ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $22051 | $– | $63785 | $85836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 217907 |  |  | 217907 |
| &nbsp;&nbsp;Global X SuperIncome<sup>™</sup> Preferred ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $9102947 | $– | $– | $9102947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 9677017 |  |  | 9677017 |
| &nbsp;&nbsp;Global X SuperDividend<sup>®</sup> U.S. ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $43258173 | $– | $– | $43258173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 38896520 |  |  | 38896520 |
| &nbsp;&nbsp;Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $2052122 | $– | $203005 | $2255127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 3099999 |  |  | 3099999 |
| &nbsp;&nbsp;Global X SuperDividend<sup>®</sup> REIT ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $13205649 | $– | $5032543 | $18238192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 15618158 |  | 3572605 | 19190763 |
| &nbsp;&nbsp;Global X Renewable Energy Producers ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $306303 | $– | $– | $306303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 604064 |  |  | 604064 |
| &nbsp;&nbsp;Global X S&P 500<sup>®</sup> Catholic Values ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $9146709 | $– | $– | $9146709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 8941586 |  |  | 8941586 |
| &nbsp;&nbsp;Global X MSCI SuperDividend<sup>®</sup> EAFE ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $872114 | $– | $– | $872114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 677906 |  |  | 677906 |
| &nbsp;&nbsp;Global X E-commerce ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $241541 | $– | $– | $241541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 154261 |  |  | 154261 |
| &nbsp;&nbsp;Global X S&P Catholic Values Developed ex-U.S. ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $453571 | $– | $– | $453571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 400397 |  |  | 400397 |
| &nbsp;&nbsp;Global X NASDAQ 100<sup>®</sup> Tail Risk ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $14683 | $– | $– | $14683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 10896 |  |  | 10896 |
| &nbsp;&nbsp;Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $155595 | $– | $– | $155595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 13700 |  |  | 13700 |
| &nbsp;&nbsp;Global X S&P 500<sup>®</sup> Tail Risk ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $451558 | $– | $– | $451558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 32910 |  |  | 32910 |
| &nbsp;&nbsp;Global X S&P 500<sup>®</sup> Collar 95-110 ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $316521 | $– | $– | $316521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 28907 |  |  | 28907 |

---

*294*

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Notes to Financial Statements (Continued)

**October 31, 2025**

------

6. TAX INFORMATION (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Global X Funds** | **Ordinary<br> Income** | **Long-Term<br> Capital Gain** | **Return of Capital** | **Totals** |
| &nbsp;&nbsp;Global X Disruptive Materials ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $61028 | $– | $– | $61028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 77577 |  |  | 77577 |
| &nbsp;&nbsp;Global X Russell 2000 ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $21920075 | $– | $– | $21920075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 5855188 |  |  | 5855188 |
| &nbsp;&nbsp;Global X U.S. Electrification ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $1403837 | $– | $– | $1403837 |
| &nbsp;&nbsp;Global X S&P 500 U.S. Market Leaders Top 50 ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $4415 | $– | $– | $4415 |
| &nbsp;&nbsp;Global X S&P 500 U.S. Revenue Leaders ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $4713 | $– | $– | $4713 |
| &nbsp;&nbsp;Global X S&P 500<sup>®</sup> Christian Values ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $– | $– | $– | $– |

---

*295*

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Notes to Financial Statements (Continued)

**October 31, 2025**

------

6. TAX INFORMATION (continued)

As of October 31, 2025, the components of tax basis distributable earnings (accumulated losses) were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X<br> Lithium &<br> Battery Tech<br> ETF** | **Global X<br> SuperDividend<sup>®</sup><br> ETF** | **Global X Social<br> Media ETF** | **Global X Guru<sup>®</sup><br> Index ETF** |
| **Undistributed Ordinary Income** | $4033926 | $1252297 | $307487 | $– |
| **Capital Loss Carryforwards** | (1007060358) | (899379788) | (124189047) | (23444543) |
| **Unrealized Appreciation (Depreciation) on Investments and Foreign Currency** | 65319861 | (5429998) | (17194091) | 7574951 |
| **Late Year Loss Deferral** |  |  |  | (2335) |
| **Other Temporary Differences** | (13) | (20) | – | (8) |
| **Total Accumulated Losses** | $(937706584) | $(903557509) | $(141075651) | $(15871935) |
|  | **Global X<br> SuperIncome<sup>™</sup><br> Preferred ETF** | **Global X<br> SuperDividend<sup>®</sup><br> U.S. ETF** | **Global X MSCI<br> SuperDividend<sup>®</sup><br> Emerging<br> Markets ETF** | **Global X<br> SuperDividend<sup>®</sup><br> REIT ETF<sup>(1)</sup>** |
| **Undistributed Ordinary Income** | $721719 | $1245508 | $– | $– |
| **Capital Loss Carryforwards** | (116883140) | (257939506) | (27585741) | (295737748) |
| **Unrealized Appreciation (Depreciation) on Investments and Foreign Currency** | 1231577 | (22481072) | 1913806 | (5461342) |
| **Late Year Loss Deferral** |  |  |  | (321606) |
| **Other Temporary Differences** | 7 | 13 | – | (1556075) |
| **Total Accumulated Losses** | $(114929837) | $(279175057) | $(25671935) | $(303076771) |
|  | **Global X<br> Renewable<br> Energy<br> Producers ETF** | **Global X S&P<br> 500<sup>®</sup> Catholic<br> Values ETF** | **Global X MSCI<br> SuperDividend<sup>®</sup><br> EAFE ETF** | **Global X<br> E-commerce<br> ETF** |
| **Undistributed Ordinary Income** | $204037 | $3579296 | $282274 | $95066 |
| **Capital Loss Carryforwards** | (22006561) | (18185420) | (2584694) | (42931326) |
| **Unrealized Appreciation (Depreciation) on Investments and Foreign Currency** | (17613443) | 359045362 | 2375403 | (1712183) |
| **Other Temporary Differences** | 1 | 3 | (5) | 1 |
| **Total Distributable Earnings (Accumulated Losses)** | $(39415966) | $344439241 | $72978 | $(44548442) |

---

*296*

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Notes to Financial Statements (Continued)

**October 31, 2025**

------

6. TAX INFORMATION (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X S&P<br> Catholic Values<br> Developed ex-<br> U.S. ETF** | **Global X<br> NASDAQ 100<sup>®</sup><br> Tail Risk ETF** | **Global X<br> NASDAQ 100<sup>®</sup><br> Collar 95-110<br> ETF** | **Global X S&P<br> 500<sup>®</sup> Tail Risk<br> ETF** |
| **Undistributed Ordinary Income** | $469428 | $503726 | $455526 | $364062 |
| **Capital Loss Carryforwards** | (763649) |  |  |  |
| **Unrealized Appreciation on Investments and Foreign Currency** | 2082885 |  |  |  |
| **Other Temporary Differences** | – | (1) | 4 | (2) |
| **Total Distributable Earnings** | $1788664 | $503725 | $455530 | $364060 |
|  | **Global X S&P<br> 500<sup>®</sup> Collar 95-<br> 110 ETF** | **Global X<br> Disruptive<br> Materials ETF** | **Global X Russell<br> 2000 ETF** | **Global X U.S.<br> Electrification<br> ETF** |
| **Undistributed Ordinary Income** | $404515 | $34751 | $3263515 | $66601 |
| **Capital Loss Carryforwards** |  | (2054586) | (19192025) | (1436937) |
| **Unrealized Appreciation on Investments and Foreign Currency** |  | 1030205 | 139527551 | 15952515 |
| **Other Temporary Differences** | (1) | (3) | – | – |
| **Total Distributable Earnings (Accumulated Losses)** | $404514 | $(989633) | $123599041 | $14582179 |
|  |  | **Global X S&P<br> 500 U.S. Market<br> Leaders Top 50<br> ETF** | **Global X<br> S&P 500<br> U.S. Revenue<br> Leaders ETF** | **Global X S&P<br> 500<sup>®</sup> Christian<br> Values ETF** |
| **Undistributed Ordinary Income** |  | $15295 | $9778 | $1344 |
| **Capital Loss Carryforwards** |  | (12550) | (955) |  |
| **Unrealized Appreciation (Depreciation) on Investments and Foreign Currency** |  | (60948) | 116198 | 55808 |
| **Other Temporary Differences** |  | – | (1) | – |
| **Total Distributable Earnings (Accumulated Losses)** |  | $(58203) | $125020 | $57152 |

---

<br> <sup>(1)</sup> The Global X SuperDividend<sup>®</sup> REIT ETF has a tax year that ends on December 31.

For taxable years beginning after December 22, 2010, a Registered Investment Company within the meaning of the 1940 Act 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.

*297*

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Notes to Financial Statements (Continued)

**October 31, 2025**

------

6. TAX INFORMATION (continued)

The Federal tax cost basis of investments and aggregate gross unrealized appreciation and depreciation on investments held by the Funds at October 31, 2025 were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Global X Funds** | **Federal Tax<br> Cost** | **Aggregated<br> Gross<br> Unrealized<br> Appreciation** | **Aggregated<br> Gross<br> Unrealized<br> Depreciation** | **Net Unrealized<br> Appreciation<br> (Depreciation)** |
| Global X Lithium & Battery Tech ETF | $1390680187 | $353529968 | $(288210107) | $65319861 |
| Global X SuperDividend<sup>®</sup> ETF | 1065165288 | 113620169 | (119050167) | (5429998) |
| Global X Social Media ETF | 171466323 | 37530189 | (54724280) | (17194091) |
| Global X Guru<sup>®</sup> Index ETF | 48846864 | 9564464 | (1989513) | 7574951 |
| Global X SuperIncome<sup>™</sup> Preferred ETF | 131345203 | 4975964 | (3744387) | 1231577 |
| Global X SuperDividend<sup>®</sup> U.S. ETF | 650115128 | 75433569 | (97914641) | (22481072) |
| Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF | 38894670 | 7773242 | (5859436) | 1913806 |
| Global X SuperDividend<sup>®</sup> REIT ETF | 192674218 | 14909168 | (7044233) | 7864935 |
| Global X Renewable Energy Producers ETF | 45224343 | 2165901 | (19779344) | (17613443) |
| Global X S&P 500<sup>®</sup> Catholic Values ETF | 744269445 | 397839380 | (38794018) | 359045362 |
| Global X MSCI SuperDividend<sup>®</sup> EAFE ETF | 31176236 | 3115509 | (740106) | 2375403 |
| Global X E-commerce ETF | 58482355 | 10414573 | (12126756) | (1712183) |
| Global X S&P Catholic Values Developed ex-U.S. ETF | 23775888 | 3056466 | (973581) | 2082885 |
| Global X NASDAQ 100<sup>®</sup> Tail Risk ETF | 3329976 | 996019 | (996019) |  |
| Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF | 3313372 | 633549 | (633549) |  |
| Global X S&P 500<sup>®</sup> Tail Risk ETF | 2483888 | 816676 | (816676) |  |
| Global X S&P 500<sup>®</sup> Collar 95-110 ETF | 3651567 | 673289 | (673289) |  |
| Global X Disruptive Materials ETF | 9199586 | 1738560 | (708355) | 1030205 |
| Global X Russell 2000 ETF | 1213253632 | 285501211 | (145973660) | 139527551 |
| Global X U.S. Electrification ETF | 231082800 | 16957646 | (1005131) | 15952515 |
| Global X S&P 500 U.S. Market Leaders Top 50 ETF | 1723997 | 54825 | (115773) | (60948) |
| Global X S&P 500 U.S. Revenue Leaders ETF | 1928988 | 200571 | (84373) | 116198 |
| Global X S&P 500<sup>®</sup> Christian Values ETF | 2393004 | 115930 | (60122) | 55808 |

---

The preceding differences between book and tax cost are primarily due to wash sales.

*298*

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Notes to Financial Statements (Continued)

**October 31, 2025**

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7. CONCENTRATION OF RISKS

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, the level of governmental supervision and regulation of securities markets in the respective countries.

The securities markets of emerging market countries are less liquid, 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 as are issuers and securities markets in the United States. 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. Substantially less information may be publicly available about emerging market country issuers than is available about issuers in the United States.

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.

Except for the Global X Russell 2000 ETF, which uses a representative sampling strategy, the Funds use a replication strategy. A replication strategy is an indexing strategy that involves investing in the securities of an underlying index (also known as a secondary index) in approximately the same proportions as in the underlying index. A representative sampling strategy is an indexing strategy that involves investing in a representative sample of securities (including indirect investments through underlying ETFs) that collectively has an investment profile similar to an underlying index in terms of key risk factors, performance attributes and other characteristics. Each Fund may utilize a representative sampling strategy with respect to its 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 a Fund but not its underlying index).

Certain Funds may invest in derivative instruments, such as options and futures, which expose the Funds to risks associated with investments in derivative instruments. Some derivatives are more sensitive to interest rate changes and market price fluctuations than

*299*

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Notes to Financial Statements (Continued)

**October 31, 2025**

------

7. CONCENTRATION OF RISKS (continued)

other securities. Adverse price movements in a derivative instrument can result in a loss substantially greater than a Fund's initial investment in that instrument.

Certain Funds may invest in commodity related securities, which are susceptible to fluctuations in certain commodity markets. Any negative changes in commodity markets could have a great impact on those securities.

Please refer to each Fund's prospectus and statement of additional information ("SAI") for a more complete description of risks.

8. LOANS OF PORTFOLIO SECURITIES

On or about August 15, 2025, BBH was replaced by Mitsubishi UFJ Trust and Banking Corporation ("MUTB") as the securities lending agent for the Global X Guru<sup>®</sup> Index ETF, Global X SuperIncome™ Preferred ETF, Global X S&P 500<sup>®</sup> Catholic Values ETF, Global X Russell 2000 ETF and the Global X U.S. Electrification ETF. Prior to August 15, 2025, BBH served as the Securities Lending Agent for these Funds.

BNY (together with MUTB, each a "Securities Lending Agent") serves as the securities lending agent for Global X Lithium & Battery Tech ETF, Global X SuperDividend<sup>®</sup> ETF, Global X Social Media ETF, Global X SuperDividend<sup>®</sup> U.S. ETF, Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF, Global X SuperDividend<sup>®</sup> REIT ETF, Global X Renewable Energy Producers ETF, and the Global X E-commerce ETF.

Each Fund may lend portfolio securities having a market value up to one-third of its total assets. Security loans made pursuant to securities lending agreements with MUTB and BNY are initially required to be secured by collateral equal to at least 102% of the value of domestic equity securities and American Depositary Receipts ("ADRs") and 105% of the value of foreign equity securities (other than ADRs). Such collateral received in connection with these loans will be cash and can be invested in repurchase agreements, short-term investments or U.S. Treasury obligations, and is recognized in the Schedules of Investments and Statements of Assets and Liabilities. The obligation to return securities lending collateral is also recognized as a liability in the Statements of Assets and Liabilities. It is each Fund's 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.

Securities pledged as collateral for repurchase agreements held in the Global X Lithium & Battery Tech ETF, Global X SuperDividend<sup>®</sup> ETF, Global X Social Media ETF, Global X SuperDividend<sup>®</sup> U.S. ETF, Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF, Global X Renewable Energy Producers ETF, Global X E-commerce ETF, and Global X Russell 2000 ETF are held by BNY or MUTB, as applicable, and are designated as being

*300*

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Notes to Financial Statements (Continued)

**October 31, 2025**

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8. LOANS OF PORTFOLIO SECURITIES (continued)

held on each Fund's behalf under a book-entry system. The Funds monitor 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 each Fund's 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 the other party to a repurchase agreement defaults on its obligations and the Fund 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 (including 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.

Cash collateral received in connection with securities lending is invested in repurchase agreements and short-term investments by the lending agent. The Funds do not have effective control of the non-cash collateral and therefore it is not disclosed in the Funds' Schedule of Investments.

Securities lending transactions are entered into by the Funds under the Securities Lending Agreement, which permits a Fund, under certain circumstances such as an event of default, to offset amounts payable by the Fund to the same counterparty against amounts receivable from the counterparty to create a net payment due to or from the Fund.

Income from securities lending is determined by the amount of interest earned on collateral, net of any rebate and securities lending agent fees.

The following is a summary of securities on loan by the Funds, with cash collateral of overnight maturities and non-cash collateral, which would be subject to offset as of October 31, 2025.

*301*

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Notes to Financial Statements (Continued)

**October 31, 2025**

------

8. LOANS OF PORTFOLIO SECURITIES (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Gross Amount<br> of Recognized<br> Assets (Value<br> of Securities on<br> Loan)** | **Value of Cash<br> Collateral<br> Received<sup>(1)</sup>** | **Value of<br> Non-Cash<br> Collateral<br> Received<sup>(1)</sup>** | **Net Amount** |
| **Global X Lithium & Battery Tech ETF** | $119027184 | $70118002 | $48909182 | $— |
| **Global X SuperDividend<sup>®</sup> ETF** | 62741795 | 44238378 | 18503417 |  |
| **Global X Social Media ETF** | 5191361 | 4148150 | 1043211 |  |
| **Global X SuperDividend<sup>®</sup> U.S. ETF** | 7686451 | 5550815 | 2135636 |  |
| **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** | 2225323 | 2225323 |  |  |
| **Global X Renewable Energy Producers ETF** | 1463134 | 1463134 |  |  |
| **Global X E-commerce ETF** | 1244341 | 883792 | 360549 |  |
| **Global X Russell 2000 ETF** | 15268893 | 15268893 |  |  |

---

(1) Collateral and non-cash collateral received in excess of market value of securities on loan is not
 presented in this table. The total cash collateral received by the Fund is disclosed in the Statements of Assets and Liabilities.

The value of loaned securities and related collateral outstanding at October 31, 2025 are shown in the Schedules of Investments. The value of the collateral held may be temporarily less than that required under the lending contract. As of October 31, 2025, the cash collateral was invested in repurchase agreements and the non-cash collateral consisted of U.S. Treasury Bills, Notes, Bonds and U.S. Treasury Inflation Indexed Bonds with the following maturities:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Overnight<br> and<br> Continuous** | **<30 Days** | **Between<br> 30 & 90<br> Days** | **>90 Days** | **Total** |
| **Global X Lithium & Battery Tech ETF** |  |  |  |  |  |
| Repurchase Agreements | $73796247 | $— | $— | $— | $73796247 |
| U.S. Government Securities |  |  | 6826752 | 42082430 | 48909182 |
| Total | $73796247 | $— | $6826752 | $42082430 | $122705429 |
| **Global X SuperDividend<sup>®</sup> ETF** |  |  |  |  |  |
| Repurchase Agreements | $49211484 | $— | $— | $— | $49211484 |
| U.S. Government Securities |  |  | 1857744 | 16645673 | 18503417 |
| Total | $49211484 | $— | $1857744 | $16645673 | $67714901 |

---

*302*

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Notes to Financial Statements (Continued)

**October 31, 2025**

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8. LOANS OF PORTFOLIO SECURITIES (continued)

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Overnight<br> and<br> Continuous** | **<30 Days** | **Between<br> 30 & 90<br> Days** | **>90 Days** | **Total** |
| **Global X Social Media ETF** |  |  |  |  |  |
| Repurchase Agreements | $4748747 | $— | $— | $— | $4748747 |
| U.S. Government Securities |  |  | 130848 | 912363 | 1043211 |
| Total | $4748747 | $— | $130848 | $912363 | $5791958 |
| **Global X SuperDividend<sup>®</sup> U.S. ETF** |  |  |  |  |  |
| Repurchase Agreements | $5684653 | $— | $— | $— | $5684653 |
| U.S. Government Securities |  | 577 | 3748 | 2131311 | 2135636 |
| Total | $5684653 | $577 | $3748 | $2131311 | $7820289 |
| **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** |  |  |  |  |  |
| Repurchase Agreements | $2355150 | $— | $— | $— | $2355150 |
| Total | $2355150 | $— | $— | $— | $2355150 |
| **Global X Renewable Energy Producers ETF** |  |  |  |  |  |
| Repurchase Agreements | $1544009 | $— | $— | $— | $1544009 |
| Total | $1544009 | $— | $— | $— | $1544009 |
| **Global X E-commerce ETF** |  |  |  |  |  |
| Repurchase Agreements | $946008 | $— | $— | $— | $946008 |
| U.S. Government Securities |  | 915 | 5945 | 353689 | 360549 |
| Total | $946008 | $915 | $5945 | $353689 | $1306557 |
| **Global X Russell 2000 ETF** |  |  |  |  |  |
| Short-Term Investment | $15311374 | $— | $— | $— | $15311374 |
| Total | $15311374 | $— | $— | $— | $15311374 |

---

9. REVERSE STOCK SPLIT

The Board of the Trust approved a reverse share split of one to three (1:3) of the issued and outstanding shares of the Global X SuperDividend<sup>®</sup> ETF, Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF and Global X SuperDividend<sup>®</sup> REIT ETF, (the "Reverse Share Split"). The Reverse Share Split was completed after the close of business on December 19, 2022. The effect of this transaction for each 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 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.

The Board of the Trust approved a reverse share split of one to three (1:3) of the issued and outstanding shares of the Global X Renewable Energy Producers ETF, (the "Reverse Share

*303*

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Notes to Financial Statements (Concluded)

**October 31, 2025**

------

9. REVERSE STOCK SPLIT (continued)

Split"). The Reverse Share Split was completed after the close of business on August 29, 2025. The effect of this transaction for each 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 on the Statements of Changes in Net Assets for each of the years in the period then ended, and the 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. CONTRACTUAL OBLIGATION

The Funds enter into contracts in the normal course of business that contain a variety of indemnifications. The Funds' maximum exposure under these contracts 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 (the "Trustees") and the Trust's officers are indemnified against certain liabilities that may arise out of the performance of their duties.

11. RECENT ACCOUNTING PRONOUNCEMENT

In December 2023, the FASB issued Accounting Standards Update 2023-09 ("ASU 2023-09"), Income Taxes (Topic 740) Improvements to Income Tax Disclosures, which amends quantitative and qualitative income tax disclosure requirements in order to increase disclosure consistency, bifurcate income tax information by jurisdiction and remove information that is no longer beneficial. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, and early adoption is permitted. Fund Management is evaluating the impacts of these changes on the Funds' financial statements.

12. SUBSEQUENT EVENTS

The Funds have been evaluated by management 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.

*304*

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Report of Independent Registered Public Accounting Firm

------

To the Board of Trustees of Global X Funds and Shareholders of each of the twenty-three funds listed in the table below

**Opinions on the Financial Statements**

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (twenty-three of the funds constituting Global X Funds, hereafter collectively referred to as the "Funds") as of October 31, 2025, the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of October 31, 2025, the results of each of their operations and the changes in each of their net assets for each of the periods indicated in the table below, and each of the financial highlights for each of the periods indicated therein, in conformity with accounting principles generally accepted in the United States of America.

Global X Lithium & Battery Tech ETF (1)

Global X SuperDividend<sup>®</sup> ETF (1)

Global X Social Media ETF (1)

Global X Guru<sup>®</sup> Index ETF (1)

Global X SuperIncome™ Preferred ETF (1)

Global X SuperDividend<sup>®</sup> U.S. ETF (1)

Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF (1)

Global X SuperDividend<sup>®</sup> REIT ETF (1)

Global X Renewable Energy Producers ETF (1)

Global X S&P 500<sup>®</sup> Catholic Values ETF (1)

Global X MSCI SuperDividend<sup>®</sup> EAFE ETF (1)

Global X E-commerce ETF (1)

Global X S&P Catholic Values Developed ex-U.S. ETF (1)

Global X Nasdaq 100<sup>®</sup> Tail Risk ETF (1)

Global X Nasdaq 100<sup>®</sup> Collar 95-110 ETF (1)

Global X S&P 500<sup>®</sup> Tail Risk ETF (1)

Global X S&P 500<sup>®</sup> Collar 95-110 ETF (1)

Global X Disruptive Materials ETF (1)

Global X Russell 2000 ETF (2)

Global X U.S. Electrification ETF (3)

Global X S&P 500 U.S. Market Leaders Top 50 ETF (4)

Global X S&P 500 U.S. Revenue Leaders ETF (4)

Global X S&P 500® Christian Values ETF (5)

*305*

![](logom4.jpg)

Report of Independent Registered Public Accounting Firm (Concluded)

------

&nbsp;&nbsp;&nbsp;&nbsp;(1) Statement of operations for the year ended October 31, 2025 and statement of changes in net assets
 for each of the two years in the period ended October 31, 2025

(2) Statement of operations for the year ended October 31, 2025 and statement of changes in net assets for the year ended
 October 31, 2025 and the period June 4, 2024 (commencement of operations) through October 31, 2024

(3) Statement of operations and statement of changes in net assets for the period December 17, 2024 (commencement of operations)
 through October 31, 2025

(4) Statement of operations and statement of changes in net assets for the period April 15, 2025 (commencement of operations)
 through October 31, 2025

(5) Statement of operations and statement of changes in net assets for the period September 23, 2025 (commencement of operations)
 through October 31, 2025

**Basis for Opinions**

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2025 by correspondence with the custodians, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

December 30, 2025

We have served as the auditor of one or more investment companies in Global X Funds since 2016.

*306*

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Notice to Shareholders (unaudited)

------

For shareholders that do not have an October 31, 2025 tax year end, this notice is for informational purposes only. For shareholders with an October 31, 2025 tax year end, please consult your tax advisor as to the pertinence of this notice.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Return of Capital** | **Long-Term<br> Capital Gain<br> Distributions** | **Ordinary Income<br> Distributions** | **Total<br> Distributions** | **Qualifying<br> for Corporate<br> Dividends<br> Received<br> Deduction<sup>(1)</sup>** | **Qualifying<br> Dividend<br> Income<sup>(2)</sup>** |
| **Global X Lithium and Battery Tech ETF** |  |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 23.10% | 100.00% |
| **Global X SuperDividend<sup>®</sup> ETF** |  |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 0.00% | 31.81% |
| **Global X Social Media ETF** |  |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 24.46% | 85.28% |
| **Global X Guru<sup>®</sup> Index ETF** |  |  |  |  |  |
| 74.31% | 0.00% | 25.69% | 100.00% | 100.00% | 100.00% |
| **Global X SuperIncome™ Preferred ETF** |  |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 97.32% | 97.01% |
| **Global X SuperDividend<sup>®</sup> U.S. ETF** |  |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 39.24% | 48.08% |
| **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** |  |  |  |  |  |
| 8.85% | 0.00% | 91.15% | 100.00% | 0.00% | 70.70% |
| **Global X SuperDividend<sup>®</sup> REIT ETF** |  |  |  |  |  |
| 38.27% | 0.00% | 61.73% | 100.00% | 0.00% | 0.00% |
| **Global X Renewable Energy Producers ETF** |  |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 0.00% | 51.33% |
| **Global X S&P 500<sup>®</sup> Catholic Values ETF** |  |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 80.65% | 83.06% |
| **Global X MSCI SuperDividend<sup>®</sup> EAFE ETF** |  |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 0.00% | 67.33% |
| **Global X E-commerce ETF** |  |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 40.47% | 100.00% |
| **Global X S&P Catholic Values Developed ex-U.S. ETF** |  |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 0.00% | 75.55% |
| **Global X NASDAQ 100<sup>®</sup> Tail Risk ETF** |  |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 0.00% | 0.00% |
| **Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF** |  |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 0.00% | 0.00% |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** |  |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 0.03% | 0.00% |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |  |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 0.00% | 0.00% |
| **Global X Disruptive Materials ETF** |  |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 20.91% | 95.06% |
| **Global X Russell 2000 ETF** |  |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 57.59% | 62.20% |
| **Global X U.S. Electrification ETF** |  |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| **Global X S&P 500 U.S. Market Leaders Top 50 ETF** |  |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| **Global X S&P 500 U.S. Revenue Leaders ETF** |  |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| **Global X S&P 500<sup>®</sup> Christian Values ETF** |  |  |  |  |  |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |

---

*307*

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**Notice to Shareholders (unaudited)**

------

For the fiscal year ended October 31, 2025, the Funds have designated the following items with regard to distributions paid during the year.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **U.S. Government<br> Interest<sup>(3)</sup>** | **Interest Related<br> Dividends<sup>(4)</sup>** | **Short Term<br> Capital Gain<br> Dividends<sup>(5)</sup>** | **Qualifying<br> Business<br> Income<sup>(6)</sup>** | **Foreign Tax<br> Credit** |
| **Global X Lithium and Battery Tech ETF** |  |  |  |  |  |
|  | 0.00% | 0.34% | 0.00% | 0.00% | 0.00% |
| **Global X SuperDividend<sup>®</sup> ETF** |  |  |  |  |  |
|  | 0.00% | 0.01% | 0.00% | 12.65% | 4.54% |
| **Global X Social Media ETF** |  |  |  |  |  |
|  | 0.00% | 0.00% | 0.00% | 0.00% | 11.01% |
| **Global X Guru<sup>®</sup> Index ETF** |  |  |  |  |  |
|  | 0.00% | 1.06% | 0.00% | 0.00% | 0.00% |
| **Global X SuperIncome™ Preferred ETF** |  |  |  |  |  |
|  | 0.00% | 0.71% | 0.00% | 0.00% | 0.00% |
| **Global X SuperDividend<sup>®</sup> U.S. ETF** |  |  |  |  |  |
|  | 0.00% | 0.93% | 0.00% | 14.03% | 0.00% |
| **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** | **Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF** |  |  |  |  |
|  | 0.00% | 0.00% | 0.00% | 0.00% | 9.66% |
| **Global X SuperDividend<sup>®</sup> REIT ETF** |  |  |  |  |  |
|  | 0.00% | 0.03% | 0.00% | 68.45% | 0.00% |
| **Global X Renewable Energy Producers ETF** |  |  |  |  |  |
|  | 0.00% | 0.04% | 0.00% | 0.00% | 16.99% |
| **Global X S&P 500<sup>®</sup> Catholic Values ETF** |  |  |  |  |  |
|  | 0.00% | 0.28% | 0.00% | 0.00% | 0.00% |
| **Global X MSCI SuperDividend<sup>®</sup> EAFE ETF** |  |  |  |  |  |
|  | 0.00% | 0.00% | 0.00% | 0.00% | 8.41% |
| **Global X E-commerce ETF** |  |  |  |  |  |
|  | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| **Global X S&P Catholic Values Developed ex-U.S. ETF** | **Global X S&P Catholic Values Developed ex-U.S. ETF** |  |  |  |  |
|  | 0.00% | 0.01% | 0.00% | 0.00% | 8.42% |
| **Global X NASDAQ 100<sup>®</sup> Tail Risk ETF** |  |  |  |  |  |
|  | 0.00% | 0.03% | 0.00% | 0.00% | 0.00% |
| **Global X NASDAQ 100<sup>®</sup> Collar 95-110 ETF** |  |  |  |  |  |
|  | 0.00% | 0.14% | 100.00% | 0.00% | 0.00% |
| **Global X S&P 500<sup>®</sup> Tail Risk ETF** |  |  |  |  |  |
|  | 0.00% | 0.00% | 100.00% | 0.37% | 0.00% |
| **Global X S&P 500<sup>®</sup> Collar 95-110 ETF** |  |  |  |  |  |
|  | 0.00% | 0.09% | 100.00% | 0.44% | 0.00% |
| **Global X Disruptive Materials ETF** |  |  |  |  |  |
|  | 0.00% | 0.04% | 0.00% | 0.00% | 7.47% |
| **Global X Russell 2000 ETF** |  |  |  |  |  |
|  | 0.00% | 0.31% | 100.00% | 7.43% | 0.00% |
| **Global X U.S. Electrification ETF** |  |  |  |  |  |
|  | 0.00% | 0.11% | 0.00% | 0.00% | 0.00% |
| **Global X S&P 500 U.S. Market Leaders Top 50 ETF** | **Global X S&P 500 U.S. Market Leaders Top 50 ETF** |  |  |  |  |
|  | 0.00% | 0.18% | 0.00% | 0.00% | 0.00% |
| **Global X S&P 500 U.S. Revenue Leaders ETF** |  |  |  |  |  |
|  | 0.00% | 0.25% | 0.00% | 0.00% | 0.00% |
| **Global X S&P 500<sup>®</sup> Christian Values ETF** |  |  |  |  |  |
|  | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |

---

<sup>(1)</sup> Qualifying dividends represent dividends which qualify for the corporate dividends received deduction and is reflected as a percentage of ordinary income distributions (the total of short term capital gain and net investment income distributions).

<sup>(3)</sup> "U.S. Government Interest" represents the amount of interest that was derived from U.S. Government obligations and distributed during the fiscal year. Generally, interest from direct U.S. Government obligations is exempt from state income tax. However, for shareholders who are residents of California, Connecticut and New York, the statutory threshold requirements were not satisfied to permit exemption of these amounts from state income.

*308*

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Notice to Shareholders (unaudited)

------

<sup>(5)</sup> The percentage of this column represents the amount of "Short Term Capital Gain Dividend" and is reflected as a percentage of short term capital gain distribution that is exempted from U.S. withholding tax when paid to foreign investors.

<sup>(6)</sup> The percentage of this column represents that amount of ordinary dividend income that qualified for 20% Business Income Deduction.

Certain Funds intend to pass through a foreign tax credit to shareholders. For the fiscal year ended October 31, 2025 the total amount of foreign source income and foreign tax credit are as follows:

---

| | | |
|:---|:---|:---|
| **Fund Name** | **Foreign Source<br> Income** | **Foreign Tax Credit<br> Pass Through** |
| Global X Superdividend<sup>®</sup> ETF | $39715495 | $4189173 |
| Global X Social Media ETF | 380134 | 34664 |
| Global X MSCI SuperDividend<sup>®</sup> Emerging Markets ETF | 2332728 | 241213 |
| Global X Renewable Energy Producers ETF | 555367 | 62700 |
| Global X MSCI SuperDividend<sup>®</sup> EAFE ETF | 991055 | 80126 |
| Global X S&P Catholic Values Developed ex-U.S. ETF | 567703 | 41724 |
| Global X Disruptive Materials ETF | 60700 | 4926 |

---

The information reported herein may differ from the information and distributions taxable to the shareholders for the calendar year ending December 31, 2025. Complete information will be computed and reported in conjunction with your 2025 Form 1099-DIV.

*309*

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Notes

------

*310*

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Other Information (Form N-CSR Items 8-11) (Unaudited)

------

**Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.**

Not applicable.

**Item 9. Proxy Disclosures for Open-End Management Investment Companies.**

There were no matters submitted to a vote of shareholders during the period covered by this report.

**Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End**

**Management Investment Companies.**

(1) &nbsp;&nbsp;&nbsp;&nbsp; No remuneration was paid by the company during the period covered by the report to any Trustees on the company's Board of Trustees for regular compensation.

(2) &nbsp;&nbsp;&nbsp;&nbsp; No remuneration was paid by the company during the period covered by the report to any Trustees on the company's Board of Trustees for special compensation.

(3) &nbsp;&nbsp;&nbsp;&nbsp; No remuneration was paid by the company during the period covered by the report to any Officers of the company.

(4) &nbsp;&nbsp;&nbsp;&nbsp; No remuneration was paid by the company during the period covered by the report to any Officer or Trustee of the company who is an affiliated person.

**Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.**

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 (the "Board Meeting") of the Global X Funds (the "Trust") held on May 22, 2025, 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 S&P 500® Christian Values ETF (the "New Fund"); and (ii) the initial Supervision and Administration Agreement (the "New Supervision and Administration Agreement") between the Trust, on behalf of the New Fund and Global X Management Company LLC ("Global X Management"). The New Investment 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

*311*

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Other Information (Form N-CSR Items 8-11) (Unaudited) (Continued)

------

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.

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**

The Board considered 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. With respect to this factor, the Board considered:

&nbsp;&nbsp;&nbsp;&nbsp;• 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 New Fund's investment strategy and Global X Management's experience with such
 strategy; 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

*312*

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Other Information (Form N-CSR Items 8-11) (Unaudited) (Continued)

------

professional qualifications of Global X Management's key personnel.

Based on these considerations, the Board concluded at the 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 date of the 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**

The Board considered Global X Management's expected costs to provide investment management, supervision and administrative and related services to the New Fund. With respect to this factor, the Board considered:

&nbsp;&nbsp;&nbsp;&nbsp;• 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 Agreements 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**

The Board considered the fees that were proposed to be charged to the New Fund for advisory services. With respect to this factor, the Board considered:

&nbsp;&nbsp;&nbsp;&nbsp;• 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 structures of the New Fund

*313*

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Other Information (Form N-CSR Items 8-11) (Unaudited) (Continued)

------

---

| | |
|:---|:---|
|  | compared to the average and median of 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 ratios 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 fees) 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 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**

The Board considered the extent to which the 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. With respect to this factor, the Board considered:

&nbsp;&nbsp;&nbsp;&nbsp;• 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 Board Meeting that the proposed unitary Management Fee for the New Fund appropriately addressed economies of scale.

**Other Benefits**

In considering the 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 relationship with the New Fund.

*314*

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Other Information (Form N-CSR Items 8-11) (Unaudited) (Concluded)

------

**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.

*315*

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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

**Custodians and Transfer Agents:**

Brown Brothers Harriman & Co.

40 Water Street

Boston, MA 02109

The Bank of New York Mellon

240 Greenwich Street

New York, NY 10286

**Independent Registered Public Accounting Firm:**

PricewaterhouseCoopers LLP

Two Commerce Square

Suite 1800

2001 Market Street

Philadelphia, PA 19103

This information must be preceded or accompanied by a current prospectus for the Funds described.

GLX-AR-003-1600

**Item 8.** **Changes in and Disagreements with Accountants for Open-End Management Investment Companies.**

Included under Item 7.

**Item 9.** **Proxy Disclosures for Open-End Management Investment Companies.**

Included under Item 7.

**Item 10.** **Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.**

Included under Item 7.

**Item 11.** **Statement Regarding Basis for Approval of Investment Advisory Contract.**

Included under Item 7.

**Item 12.** **Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.**

Not applicable to open-end management investment companies.

Item 13. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable to open-end management investment companies.

Item 14. Purchases of Equity Securities by Closed-End Management Company and Affiliated Purchasers.

Not applicable to open-end management investment companies.

Item 15. Submission of Matters to a Vote of Security Holders.

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of directors.

Item 16. Controls and Procedures.

(a) The certifying officers, whose certifications are included herewith, have evaluated the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act) 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 changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

**Item 17.** **Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.**

Not applicable.

**Item 18.** **Recovery of Erroneously Awarded Compensation.**

(a) Not applicable.

(b) Not applicable.

**Item 19.** **Exhibits.**

(a)(1) [Code of Ethics attached hereto.](c114723_ex99-codeeth.htm)

(a)(2) Not applicable.

(a)(3) [A separate certification for the principal executive officer and the principal financial officer of the registrant, as required by Rule 30a-2(a) under the Act (17 CFR § 270.30a-2(a)), are filed herewith.](c114723_ex99cert.htm)

(a)(4) Not applicable.

(a)(5) Not applicable.

(b) [Officer certifications as required by Rule 30a-2(b) under the Act (17 CFR § 270.30a-2(b)), also accompany this filing as exhibits.](c114723_ex99-906cert.htm)

**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/ Ryan O'Connor |
|  | Ryan O'Connor<br> Principal Executive Officer |

---

Date: January 9, 2026

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/ Ryan O'Connor |
|  | Ryan O'Connor<br> Principal Executive Officer |

---

Date: January 9, 2026

---

| | |
|:---|:---|
| By (Signature and Title) | /s/ Eric Olsen |
|  | Eric Olsen<br> Principal Financial Officer |

---

Date: January 9, 2026

## Ex-99.Code

**Exhibit 99.CODE ETH**

<u>SARBANES-OXLEY CODE OF ETHICS</u>

&nbsp;&nbsp;&nbsp;&nbsp;**I.**  **<u>Introduction</u>.** 

This Code of Ethics (the "Code") has been adopted by the Board of Trustees of the Global X Funds (the "Company"). It has been designed to comply with Section 406 of the Sarbanes-Oxley Act. The Trust requires its Chief Executive Officer, Chief Financial Officer, Principal Accounting Officer or other Trust officers performing similar functions (the "Principal Officers"), to maintain the highest ethical and legal standards while performing their duties and responsibilities to the Trust and each of its series (each a "Fund," collectively the "Funds"), with particular emphasis on those duties that relate to the preparation and reporting of the financial information of the Funds. The following principles and responsibilities shall govern the professional conduct of the Principal Officers:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Honest and Ethical Conduct

The Principal Officers shall act with honesty and integrity, avoiding actual or apparent conflicts of interest in personal and professional relationships, and shall report any material transaction or relationship that reasonably could be expected to give rise to such conflict between their interests and those of a Fund to the Audit Committee, the full Board of Trustees of the Trust, and, in addition, to any other appropriate person or entity that may reasonably be expected to deal with any conflict of interest in timely and expeditious manner.

The Principal Officers shall act in good faith, responsibly, with due care, competence and diligence, without misrepresenting material facts or allowing their independent judgment to be subordinated or compromised.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Financial Records and Reporting

The Principal Officers shall provide full, fair, accurate, timely and understandable disclosure in the reports and/or other documents to be filed with or submitted to the SEC or other applicable body by a Fund, or that is otherwise publicly disclosed or communicated. The Principal Officers shall comply with applicable rules and regulations of federal, state, and local governments, and other appropriate private and public regulatory agencies.

The Principal Officers shall respect the confidentiality of information acquired in the course of their work and shall not disclose such information except when authorized or legally obligated to disclose. The Principal Officers will not use confidential information acquired in the course of their duties as Principal Officers.

The Principal Officers shall share knowledge and maintain skills important and relevant to the Trust's needs; shall proactively promote ethical behavior of the Trust's employees and as a partner with industry peers and associates; and shall maintain control over and responsibly manage assets and resources employed or entrusted to them by the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Compliance with Laws, Rules and Regulations

The Principal Officers shall establish and maintain mechanisms to oversee the compliance of the Funds with applicable federal, state or local law, regulation or administrative rule, and to identify, report and correct in a swift and certain manner, any detected deviations from applicable federal, state or local law, regulation or rule.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. Compliance With this Code of Ethics

The Principal Officers shall promptly report any violations of this Code of Ethics to the Audit Committee as well as the full Board of Trustees of the Trust and shall be held accountable for strict adherence to this Code of Ethics. A proven failure to uphold the standards stated herein shall be grounds for such sanctions as shall be reasonably imposed by the Board of Trustees of the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. Amendment and Waiver

This Code of Ethics may only be amended or modified by approval of the Board of Trustees. Any substantive amendment that is not technical or administrative in nature or any material waiver, implicit or otherwise, of any provision of this Code of Ethics, shall be communicated publicly in accordance with Item 2 of Form N-CSR under the Investment Company Act of 1940.

## Ex-99.Cert

**Exhibit 99.CERT**

**CERTIFICATION**

**Pursuant to Rule 30a-2(a) under the Investment Company Act of 1940**

**and Section 302 of the Sarbanes-Oxley Act of 2002**

I, Ryan O'Connor, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of the Global X Funds (the "Registrant");

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information, included in this
report fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash
flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods
presented in this report;

4. The Registrant's other certifying officer(s), if any, and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal
control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and
have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including
its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this
report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such
internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted
accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the Registrant's disclosure controls
and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures,
as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change 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; and

5. The Registrant's other certifying officer(s) and I have disclosed to the
 Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the
 equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation
of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to
record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees
who have a significant role in the Registrant's internal control over financial reporting.

---

| |
|:---|
| Date: January 9, 2026 |
| /s/ Ryan O'Connor |
| Ryan O'Connor<br> Principal Executive Officer |

---

**CERTIFICATION**

**Pursuant to Rule 30a-2(a) under the Investment Company Act of 1940**

**and Section 302 of the Sarbanes-Oxley Act of 2002**

I, Eric Olsen, certify that:

1. I have reviewed this report on Form N-CSR of the Global X Funds (the "Registrant");

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information, included in this
report fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash
flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods
presented in this report;

4. The Registrant's other certifying officer(s), if any, and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal
control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and
have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including
its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this
report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such
internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted
accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the Registrant's disclosure controls
and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures,
as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change 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; and

5. The Registrant's other certifying officer(s) and I have disclosed to the Registrant's
auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation
of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to
record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees
who have a significant role in the Registrant's internal control over financial reporting.

---

| |
|:---|
| Date: January 9, 2026 |
| /s/ Eric Olsen |
| Eric Olsen<br> Principal Financial Officer |

---

## Exhibit 99.906

**Exhibit 99.906 CERT**

**CERTIFICATION**<br> **Pursuant to 18 U.S.C. Section 1350,**<br> **As Adopted Pursuant to Section 906**<br> **of the Sarbanes-Oxley Act of 2002**

The undersigned, Ryan O'Connor, the Principal Executive Officer of the Global X Funds (the "Fund"), with respect to the Fund's Form N-CSR for the period ended October 31, 2025, as filed with the Securities and Exchange Commission, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. such Form N-CSR fully complies with the requirements of Section 13(a) or
15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. the information contained in such Form N-CSR fairly presents, in all material
respects, the financial condition and results of operations of the Fund.

---

| | |
|:---|:---|
| Dated: January 9, 2026 |  |
|  | /s/ Ryan O'Connor |
|  | Ryan O'Connor<br> Principal Executive Officer |

---

**CERTIFICATION**<br> **Pursuant to 18 U.S.C. Section 1350,**<br> **As Adopted Pursuant to Section 906**<br> **of the Sarbanes-Oxley Act of 2002**

The undersigned, Eric Olsen, the Principal Financial Officer of the Global X Funds (the "Fund"), with respect to the Fund's Form N-CSR for the period ended October 31, 2025, as filed with the Securities and Exchange Commission, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. such Form N-CSR fully complies with the requirements of Section 13(a) or
15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. the information contained in such Form N-CSR fairly presents, in all material
respects, the financial condition and results of operations of the Fund.

---

| | |
|:---|:---|
| Dated: January 9, 2026 |  |
|  | /s/ Eric Olsen |
|  | Eric Olsen<br> Principal Financial Officer |

---