# EDGAR Filing Document

**Accession Number:** 0001432353
**File Stem:** 0000930413-26-000081
**Filing Date:** 2026-1
**Character Count:** 454936
**Document Hash:** 5ed4a3b3e22a8b598bc0d145c7b7d6cf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000930413-26-000081.hdr.sgml**: 20260109

**ACCESSION NUMBER**: 0000930413-26-000081

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 44

**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:** 26523925

**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 NASDAQ 100 Covered Call ETF (Series ID: S000063352)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000205375 | Global X NASDAQ 100 Covered Call ETF | QYLD            |

### Global X S&P 500 Covered Call ETF (Series ID: S000063353)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000205376 | Global X S&P 500 Covered Call ETF | XYLD            |

### Global X Russell 2000 Covered Call ETF (Series ID: S000065001)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000210451 | Global X Russell 2000 Covered Call ETF | RYLD            |

### Global X S&P 500 Covered Call & Growth ETF (Series ID: S000069248)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000221194 | Global X S&P 500 Covered Call & Growth ETF | XYLG            |

### Global X Nasdaq 100 Covered Call & Growth ETF (Series ID: S000069249)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000221195 | Global X Nasdaq 100 Covered Call & Growth ETF | QYLG            |

### Global X NASDAQ 100 Risk Managed Income ETF (Series ID: S000072535)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000228848 | Global X NASDAQ 100 Risk Managed Income ETF | QRMI            |

### Global X S&P 500 Risk Managed Income ETF (Series ID: S000072541)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000228854 | Global X S&P 500 Risk Managed Income ETF | XRMI            |

### Global X Information Technology Covered Call & Growth ETF (Series ID: S000075249)

| Class ID   | Class Name                                                | Ticker Symbol   |
|:---|:---|:---|
| C000234112 | Global X Information Technology Covered Call & Growth ETF | TYLG            |

### Global X Dow 30 Covered Call ETF (Series ID: S000075250)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000234113 | Global X Dow 30 Covered Call ETF | DJIA            |

### Global X Russell 2000 Covered Call & Growth ETF (Series ID: S000077681)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000238169 | Global X Russell 2000 Covered Call & Growth ETF | RYLG            |

### Global X Dow 30 Covered Call & Growth ETF (Series ID: S000080789)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000243329 | Global X Dow 30 Covered Call & Growth ETF | DYLG            |

### Global X MLP & Energy Infrastructure Covered Call ETF (Series ID: S000084648)

| Class ID   | Class Name                                            | Ticker Symbol   |
|:---|:---|:---|
| C000249082 | Global X MLP & Energy Infrastructure Covered Call ETF | MLPD            |

?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](iad021680f2a76c264c31993a.jpg)

## Global X S&P 500<sup>®</sup> Covered Call ETF

## Ticker: XYLD

## 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> Covered Call 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/xyld/. You can also request this information by contacting us at 1-888-493-8631.**This annual shareholder report describes changes to the Fund that occurred during the reporting period.**

## 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> Covered Call ETF | $63 | 0.60% |

---

## 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 BuyWrite 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 comprised of two parts: (1) all the equity securities in the S&P 500 Index (the "Reference Index") in substantially similar weight as the Reference Index; and (2) short (written) call options on up to 100% of the Reference Index.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 10.72%, while the Secondary Index increased 11.48%. The Fund had a net asset value of $40.88 per share on October 31, 2024 and ended the reporting period with a net asset value of $39.88 per share on October 31, 2025.

The Fund delivered positive performance during the reporting period, supported by a constructive U.S. equity environment as major indexes reached new highs. Inflation continued to moderate, helping to stabilize interest rate expectations, while the Federal Reserve's shift toward a more accommodative policy stance reinforced broader market conditions. For a covered call strategy such as the Fund's, a relatively calm market environment toward the end of the period limited option premium income, though intermittent volatility related to policy headlines provided selective opportunities. Such strategies can lag during strong equity rallies, as written calls cap upside potential, but they compensate with steady income collection that can cushion weaker markets. Overall, supportive macro policy and index gains helped the equity sleeve while the income overlay balanced the trade-off from capped participation in surging markets, resulting in a positive overall outcome.

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

## Total Return Based on $10,000 Investment
![Growth Chart](iee47062e8f09ec4fdc25007d.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X S&P 500<sup>®</sup> Covered Call ETF<sup>Footnote Reference\*\*</sup>** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **Cboe S&P 500 BuyWrite Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup><sup>Footnote Reference‡</sup>** |
| **Oct/15** | $10000 | $10000 | $10000 |
| **Oct/16** | $10334 | $10451 | $10427 |
| **Oct/17** | $12085 | $12921 | $11809 |
| **Oct/18** | $12686 | $13870 | $12182 |
| **Oct/19** | $13751 | $15857 | $13006 |
| **Oct/20** | $12731 | $17397 | $11584 |
| **Oct/21** | $16635 | $24862 | $15238 |
| **Oct/22** | $14852 | $21230 | $13719 |
| **Oct/23** | $15811 | $23383 | $14717 |
| **Oct/24** | $18613 | $32272 | $17442 |
| **Oct/25** | $20609 | $39196 | $19444 |

---

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/xyld/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\*\* | &nbsp;&nbsp;The Fund operated as the Horizons S&P 500 Covered Call ETF (the "Predecessor Fund"), a series of Horizons ETF Trust I, prior to the Fund's acquisition of the assets and assumption of the liabilities of the Predecessor Fund on December 24, 2018. |
| Footnote\* | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |
| Footnote† | &nbsp;&nbsp;CBOE – Chicago Board Options Exchange |
| Footnote‡ | &nbsp;&nbsp;Performance reflects the performance of the S&P 500 Stock Covered Call Index through September 14, 2017, the Cboe S&P 500 2% OTM BuyWrite Index through August 20, 2020 and the Cboe S&P 500 BuyWrite Index thereafter. |

---

## 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 S&P 500<sup>®</sup> Covered Call ETF<sup>Footnote Reference\*\*</sup> | 10.72% | 10.11% | 7.50% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 17.64% | 14.64% |
| Cboe S&P 500 BuyWrite Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup><sup>Footnote Reference‡</sup> | 11.48% | 10.91% | 6.88% |

---

## 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>** |
| $3056888948 | 505 | $18318445 | 9.05% |

---

## What did the Fund invest in?

## Asset/Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](ifb9ddf2f04ddfbf717f42765.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Written Option | -4.0% |
| Exchange-Traded Fund | 0.1% |
| Materials | 1.7% |
| Real Estate | 1.9% |
| Utilities | 2.4% |
| Energy | 2.9% |
| Consumer Staples | 4.9% |
| Industrials | 8.5% |
| Health Care | 9.3% |
| Communication Services | 10.5% |
| Consumer Discretionary | 10.9% |
| Financials | 13.3% |
| Information Technology | 37.5% |

---

---

| | |
|:---|:---|
| 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</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA | 8.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple | 7.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft | 6.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com | 4.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom | 3.1% |
| &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 | 2.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway, Cl B | 1.6% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund since November 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 1, 2026 at https://www.globalxetfs.com/funds/xyld/ or upon request at 1-888-493-8631.

At a meeting held on July 31, 2025, the Board of Trustees of the Fund approved changes to the Fund's 80% investment policy, principal investment strategies and principal risks to enhance the Fund's ability to track its Secondary Index. As of September 30, 2025, the Fund updated its 80% investment policy to state that it invests at least 80% of its total assets in the securities of the Cboe S&P 500 BuyWrite Index (the "Underlying Index") or in investments that have economic characteristics that are similar to the economic characteristics of the component securities of the Underlying Index, either individually or in the aggregate. In connection with this change, the Fund revised its principal investment strategies to provide that it will use a representative sampling strategy with respect to the Underlying Index to invest in a representative sample of securities (including indirect investments through underlying ETFs) that collectively has an investment profile similar to the Underlying Index in terms of key risk factors, performance attributes and other characteristics.

## 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/xyld/ 

# Global X Funds

## Global X S&P 500<sup>®</sup> Covered Call ETF: XYLD
**Principal Listing Exchange: NYSE Arca, Inc.**

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

**GX-AR-XYLD-2025**

![Image](iad021680f2a76c264c31993a.jpg)

# Global X Funds
![Image](iad021680f2a76c264c31993a.jpg)

## Global X NASDAQ 100<sup>®</sup> Covered Call ETF

## Ticker: QYLD

## 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> Covered Call 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/qyld/. 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> Covered Call ETF | $63 | 0.60% |

---

## 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 NASDAQ-100 BuyWrite V2 Index ("Secondary Index").

The Cboe NASDAQ-100 BuyWrite V2 Index is a benchmark index that measures the performance of a theoretical portfolio that holds a basket of the stocks included in the NASDAQ-100 Index ("Reference Index"), and "writes" (or sells) a succession of one-month at-the-money covered call options on the Reference Index.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 10.25%, while the Secondary Index increased 12.15%. The Fund had a net asset value of $17.96 per share on October 31, 2024 and ended the reporting period with a net asset value of $17.43 per share on October 31, 2025.

The Fund recorded positive returns during the reporting period, as premiums generated through its covered call writing strategy complemented gains in U.S. technology benchmarks, driven by continued enthusiasm for artificial intelligence. Periods of easing inflation supported expectations for a more accommodative monetary policy, typically favorable for growth-oriented technology holdings. However, a brief uptick in inflation in June introduced some volatility, which in turn enhanced the Fund's option premium collection opportunities. Policy developments also played a role, with the administration's reciprocal tariff actions announced in April eliciting uncertainty for global supply chains. Closing out the period, the Federal Reserve's September move to lower its policy rate to a 4.00%-4.25% target range eased financial conditions, which supported a positive sentiment amongst the investment community. Amid this mix of strong but choppy equity growth, the covered-call approach's ability to leverage volatility to pursue option premiums contributed to the Fund's positive result.

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

## Total Return Based on $10,000 Investment
![Growth Chart](iefa5d10986d3154962f657de.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Global X NASDAQ 100<sup>®</sup> Covered Call ETF<sup>Footnote Reference\*\*</sup>** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **Cboe NASDAQ-100 BuyWrite V2 Index™<sup>Footnote Reference†</sup><sup>Footnote Reference‡</sup>** | **NASDAQ -100 Index (USD) (TR)<sup>Footnote Reference\*</sup>** |
| **Oct/15** | $10000 | $10000 | $10000 | $10000 |
| **Oct/16** | $10305 | $10451 | $10428 | $10462 |
| **Oct/17** | $12266 | $12921 | $12531 | $13776 |
| **Oct/18** | $13178 | $13870 | $13557 | $15522 |
| **Oct/19** | $14416 | $15857 | $15124 | $18213 |
| **Oct/20** | $14446 | $17397 | $15357 | $25137 |
| **Oct/21** | $17898 | $24862 | $19113 | $36306 |
| **Oct/22** | $14465 | $21230 | $15508 | $26334 |
| **Oct/23** | $16766 | $23383 | $18094 | $33563 |
| **Oct/24** | $20409 | $32272 | $22168 | $46716 |
| **Oct/25** | $22502 | $39196 | $24862 | $61176 |

---

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/qyld/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| Footnote\*\* | &nbsp;&nbsp;The Fund operated as the Horizons NASDAQ 100 Covered Call ETF (the "Predecessor Fund"), a series of Horizons ETF Trust I, prior to the Fund's acquisition of the assets and assumption of the liabilities of the Predecessor Fund on December 24, 2018. |
| Footnote\* | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |
| Footnote† | &nbsp;&nbsp;CBOE – Chicago Board Options Exchange |
| Footnote‡ | &nbsp;&nbsp;Performance reflects the performance of the Cboe NASDAQ-100 BuyWrite Index through October 14, 2015 and Cboe NASDAQ-100 BuyWrite V2 Index thereafter. |

---

## 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 NASDAQ 100<sup>®</sup> Covered Call ETF<sup>Footnote Reference\*\*</sup> | 10.25% | 9.27% | 8.45% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 17.64% | 14.64% |
| Cboe NASDAQ-100 BuyWrite V2 Index™<sup>Footnote Reference†</sup><sup>Footnote Reference‡</sup> | 12.15% | 10.11% | 9.54% |
| NASDAQ -100 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 30.95% | 19.47% | 19.86% |

---

## 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>** |
| $8098696155 | 103 | $50143294 | 24.46% |

---

## What did the Fund invest in?

## Asset/Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i9a9b550e429a5b3ead836e8a.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Written Option | -5.9% |
| Real Estate | 0.2% |
| Financials | 0.4% |
| Energy | 0.5% |
| Materials | 1.1% |
| Utilities | 1.5% |
| Industrials | 4.0% |
| Consumer Staples | 4.6% |
| Health Care | 4.7% |
| Consumer Discretionary | 13.9% |
| Communication Services | 15.6% |
| Information Technology | 59.3% |

---

---

| | |
|:---|:---|
| 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 | 10.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple | 8.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft | 8.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom | 6.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com | 5.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tesla | 3.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl A | 3.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl C | 3.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 3.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Netflix | 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/qyld/ 

# Global X Funds

## Global X NASDAQ 100<sup>®</sup> Covered Call ETF: QYLD
**Principal Listing Exchange: Nasdaq**

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

**GX-AR-QYLD-2025**

![Image](iad021680f2a76c264c31993a.jpg)

# Global X Funds
![Image](iad021680f2a76c264c31993a.jpg)

## Global X Russell 2000 Covered Call ETF

## Ticker: RYLD

## 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 Covered Call 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/ryld/. 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 Covered Call ETF | $59 | 0.57% |

---

## 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 Russell 2000 BuyWrite Index (the "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 theoretical portfolio that holds a portfolio of stocks included in the Russell 2000 Index (the "Reference Index"), and "writes" (or sells) a succession of one-month at-the-money ("ATM") covered call options on the Reference Index. The written covered call options on the Reference Index are held until expiration. The Reference Index is an equity benchmark which measures the performance of the small-capitalization sector of the U.S. equity market, as defined by FTSE Russell, the provider of the Reference Index.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 8.53%, while the Secondary Index increased 9.48%. The Fund had a net asset value of $16.03 per share on October 31, 2024 and ended the reporting period with a net asset value of $15.42 per share on October 31, 2025.

The Fund delivered positive returns during the reporting period despite a tariff shock in early April that sparked a sharp but temporary risk-off move. This drove implied volatility higher, benefiting the option premiums generated by the Fund's covered call writing strategy. Over the balance of the year, market volatility presented a mixed environment. Small-cap equities fluctuated with shifting interest rate expectations, struggling when yields rose and refinancing concerns resurfaced, but rebounding as investor anticipation for policy easing strengthened later in the year. The Federal Reserve's stop-start approach to rate cuts kept markets sensitive to policy signals, creating alternating headwinds and tailwinds for both small-cap performance and option-premium generation. Overall, the Fund successfully achieved a net gain over the period.

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

## Total Return Based on $10,000 Investment
![Growth Chart](i7f3206aed5a27d8dea972760.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Global X Russell 2000 Covered Call ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **Cboe Russell 2000 BuyWrite Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** | **Russell 2000 Index (USD) (TR)<sup>Footnote Reference\*</sup>** |
| **Apr/19** | $10000 | $10000 | $10000 | $10000 |
| **Oct/19** | $10599 | $10581 | $10690 | $10041 |
| **Oct/20** | $9626 | $11608 | $9807 | $10028 |
| **Oct/21** | $13363 | $16590 | $13692 | $15122 |
| **Oct/22** | $11735 | $14166 | $12100 | $12318 |
| **Oct/23** | $10892 | $15603 | $11263 | $11263 |
| **Oct/24** | $12232 | $21534 | $12756 | $15101 |
| **Oct/25** | $13274 | $26154 | $13965 | $17277 |

---

Since its inception on April 17, 2019. 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/ryld/ 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>5 Years</u>** | **<u>Annualized Since Inception</u>** |
| Global X Russell 2000 Covered Call ETF | 8.53% | 6.64% | 4.42% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 17.64% | 15.82% |
| Cboe Russell 2000 BuyWrite Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 9.48% | 7.33% | 5.24% |
| Russell 2000 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 14.41% | 11.50% | 8.71% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | |
|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $1254506115<sub>8</sub> | $7705610 | 11.22% |

---

## What did the Fund invest in?

## Asset Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](ifbacf294151016964fb58d0e.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Written Option | -2.9% |
| Warrant | 0.0% |
| Rights | 0.0% |
| Exchange-Traded Fund | 102.8% |

---

---

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

---

## Top Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;Global X Russell 2000 ETF<sup>Footnote Reference\*\*</sup> | 102.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Inhibrx CVR | 0.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Novartis CVR | 0.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Pulse Biosciences | 0.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Cartesian Therapeutics CVR | 0.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;OmniAb CVR | 0.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;OmniAb CVR | 0.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Written Option - Russell 2000 Index, $2,450, 11/21/25 | -2.9% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*\*</sup> | &nbsp;&nbsp;Affiliated Investment |

---

## 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/ryld/ 

# Global X Funds

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

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

**GX-AR-RYLD-2025**

![Image](iad021680f2a76c264c31993a.jpg)

# Global X Funds
![Image](iad021680f2a76c264c31993a.jpg)

## Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF

## Ticker: QYLG

## 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> Covered Call & Growth 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/qylg/. 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> Covered Call & Growth 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 Cboe Nasdaq-100 Half BuyWrite V2 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 is a benchmark index that measures the performance of a theoretical portfolio that owns the stocks included in the NASDAQ-100 Index ("Reference Index"), and "writes" (or sells) corresponding call options on approximately 50% of 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 20.64%, while the Secondary Index increased 21.64%. The Fund had a net asset value of $31.89 per share on October 31, 2024 and ended the reporting period with a net asset value of $30.32 per share on October 31, 2025.

The Fund achieved positive performance during the reporting period, supported by a surge in large U.S. technology and semiconductor stocks fueled by continued investment in artificial intelligence. Expectations for easier monetary policy also contributed meaningfully, as major indexes reached new highs several times throughout 2025. Strong earnings and guidance from leading chipmakers sustained momentum, with top GPU providers reporting continued growth and steady data-center demand. Macro conditions were also supportive with headline inflation hovering near 2.90% year over year in August while core inflation held around 3.10%, helping to ease concerns about re-acceleration. In September, the Federal Reserve lowered interest rates by 0.25 percentage points to a range of 4.00%–4.25%, providing a tailwind for duration-sensitive growth stocks. Still, gains were tempered at times, most notably by a March correction in the tech-heavy index and in August when anxiety over the state of the domestic jobs market was renewed. Policy uncertainty—including tighter U.S. export controls on advanced chips—added bouts of volatility, particularly for semiconductor leaders, but the overall backdrop remained constructive, while the Fund's strategy to source premiums from writing covered calls proved beneficial, as well.

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

## Total Return Based on $10,000 Investment
![Growth Chart](iad6a5951f1c331b55c20c691.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **Cboe Nasdaq-100 Half BuyWrite V2 Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** | **NASDAQ -100 Index (USD) (TR)<sup>Footnote Reference\*</sup>** |
| **Sep/20** | $10000 | $10000 | $10000 | $10000 |
| **Oct/20** | $10040 | $9865 | $10036 | $10112 |
| **Oct/21** | $13395 | $14099 | $13485 | $14604 |
| **Oct/22** | $10238 | $12039 | $10362 | $10593 |
| **Oct/23** | $12431 | $13260 | $12665 | $13501 |
| **Oct/24** | $16180 | $18301 | $16571 | $18792 |
| **Oct/25** | $19519 | $22227 | $20158 | $24608 |

---

Since its inception on September 18, 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/qylg/ 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>5 Years</u>** | **<u>Annualized Since Inception</u>** |
| Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF | 20.64% | 14.22% | 13.95% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 17.64% | 16.88% |
| Cboe Nasdaq-100 Half BuyWrite V2 Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 21.64% | 14.97% | 14.67% |
| NASDAQ -100 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 30.95% | 19.47% | 19.23% |

---

## 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>** |
| $123390041 | 103 | $366622 | 14.80% |

---

## What did the Fund invest in?

## Asset/Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i519cc784321655a3f45b3a13.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Written Option | -2.8% |
| Real Estate | 0.1% |
| Financials | 0.3% |
| Energy | 0.5% |
| Materials | 1.1% |
| Utilities | 1.5% |
| Industrials | 3.9% |
| Consumer Staples | 4.5% |
| Health Care | 4.5% |
| Consumer Discretionary | 13.6% |
| Communication Services | 15.2% |
| Information Technology | 57.6% |

---

---

| | |
|:---|:---|
| 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</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA | 10.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple | 8.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft | 8.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom | 6.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com | 5.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tesla | 3.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl A | 3.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl C | 3.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 3.0% |
| &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/qylg/ 

# Global X Funds

## Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF: QYLG
**Principal Listing Exchange: Nasdaq**

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

**GX-AR-QYLG-2025**

![Image](iad021680f2a76c264c31993a.jpg)

# Global X Funds
![Image](iad021680f2a76c264c31993a.jpg)

## Global X S&P 500<sup>®</sup> Covered Call & Growth ETF

## Ticker: XYLG

## 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> Covered Call & Growth 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/xylg/. 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> Covered Call & Growth ETF | $38 | 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 Cboe S&P 500 Half BuyWrite 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 is a benchmark index that measures the performance of a theoretical portfolio that owns the portfolio of stocks included in the S&P 500 Index ("Reference Index"), and "writes" (or sells) corresponding call options on approximately 50% of 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 16.08%, while the Secondary Index increased 16.60%. The Fund had a net asset value of $31.71 per share on October 31, 2024 and ended the reporting period with a net asset value of $29.35 per share on October 31, 2025.

The Fund posted positive returns during the reporting period, supported by favorable conditions for U.S. equities and option income strategies. Resilient earnings from large technology and consumer platforms helped lift the market, benefiting the portfolio's growth exposure. Periods of heightened volatility kept call premiums attractive, generating income that helped cushion pullbacks and smooth returns. Shifting expectations for Federal Reserve policy and inflation produced alternating rallies and pauses. The Fund's call overlay mitigated weakness during risk-off periods while allowing for partial participation in market advances. Strong demand tied to AI and cloud spending underpinned index leaders, aiding performance even as the overlay capped some upside during the strongest surges. Overall, a combination of solid mega-cap earnings, evolving rate expectations, and steady option premium income resulted in the Fund finishing positive for the reporting period.

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

## Total Return Based on $10,000 Investment
![Growth Chart](idc65fe7aa129c191924eefef.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **Cboe S&P 500 Half BuyWrite Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** |
| **Sep/20** | $10000 | $10000 | $10000 |
| **Oct/20** | $9840 | $9865 | $9805 |
| **Oct/21** | $13297 | $14099 | $13458 |
| **Oct/22** | $11618 | $12039 | $11816 |
| **Oct/23** | $12549 | $13260 | $12855 |
| **Oct/24** | $15995 | $18301 | $16465 |
| **Oct/25** | $18568 | $22227 | $19198 |

---

Since its inception on September 18, 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/xylg/ 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>5 Years</u>** | **<u>Annualized Since Inception</u>** |
| Global X S&P 500<sup>®</sup> Covered Call & Growth ETF | 16.08% | 13.54% | 12.85% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 17.64% | 16.88% |
| Cboe S&P 500 Half BuyWrite Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 16.60% | 14.38% | 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>** |
| $54876408 | 504 | $196268 | 5.37% |

---

## What did the Fund invest in?

## Asset/Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i9e337427011f8beb22776da0.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Written Option | -2.0% |
| Materials | 1.7% |
| Real Estate | 1.9% |
| Utilities | 2.4% |
| Energy | 2.8% |
| Consumer Staples | 4.7% |
| Industrials | 8.3% |
| Health Care | 9.1% |
| Communication Services | 10.3% |
| Consumer Discretionary | 10.7% |
| Financials | 13.1% |
| Information Technology | 36.8% |

---

---

| | |
|:---|:---|
| 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;NVIDIA | 8.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple | 7.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft | 6.7% |
| &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 | 1.5% |

---

## 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/xylg/ 

# Global X Funds

## Global X S&P 500<sup>®</sup> Covered Call & Growth ETF: XYLG
**Principal Listing Exchange: NYSE Arca, Inc.**

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

**GX-AR-XYLG-2025**

![Image](iad021680f2a76c264c31993a.jpg)

# Global X Funds
![Image](iad021680f2a76c264c31993a.jpg)

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

## Ticker: QRMI

## 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> Risk Managed Income 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/qrmi/. 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> Risk Managed Income ETF | $62 | 0.60% |

---

## 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 Monthly Net Credit Collar 95-100 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 managed income strategy that holds the underlying stocks of the NASDAQ-100 Index ("Reference Index") and applies an options collar strategy consisting of 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 a 5% out-of-the-money ("OTM") put option and a short position in an at-the-money ("ATM") call option, each corresponding to the value of the portfolio of stocks in the Reference Index. The options collar seeks to generate a net-credit, meaning that the premium received from the sale of the call options will be greater than the premium paid when buying the put options.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 7.57%, while the Secondary Index increased 8.67%. The Fund had a net asset value of $16.89 per share on October 31, 2024 and ended the reporting period with a net asset value of $16.10 per share on October 31, 2025.

The Fund recorded positive returns during the reporting period, driven by option premiums generated from its net-credit collar strategy. Meanwhile, resilient earnings across mega-cap technology names and continued enthusiasm for AI-related spending buoyed the value of its underlying stock constituency. A September policy shift by the Federal Reserve, which lowered interest rates by 0.25 percentage points, eased financial conditions and supported growth-sensitive sectors. Tech-heavy indices also notched multiple record closes during mid-2025 as chip stocks rallied on AI momentum. At the same time, inflation remained manageable, tempering fears of a renewed price surge. Supportive earnings and a modestly easier policy stance outweighed intermittent macro noise, but market volatility intermittently provided a boost to the value of option premiums that the fund would collect. The Fund ended the year in positive territory, supported by the combination of strong U.S. equity performance and option premium collection.

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

## Total Return Based on $10,000 Investment
![Growth Chart](ie071d29bac2486f317b19924.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **NASDAQ-100 Monthly Net Credit Collar 95-100 Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** | **NASDAQ -100 Index (USD) (TR)<sup>Footnote Reference\*</sup>** |
| **Aug/21** | $10000 | $10000 | $10000 | $10000 |
| **Oct/21** | $9931 | $10266 | $9889 | $10323 |
| **Oct/22** | $8219 | $8766 | $8196 | $7488 |
| **Oct/23** | $8500 | $9655 | $8491 | $9543 |
| **Oct/24** | $9731 | $13325 | $9821 | $13282 |
| **Oct/25** | $10467 | $16184 | $10673 | $17394 |

---

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/qrmi/ 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) - 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 NASDAQ 100<sup>®</sup> Risk Managed Income ETF | 7.57% | 1.10% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 12.19% |
| NASDAQ-100 Monthly Net Credit Collar 95-100 Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 8.67% | 1.57% |
| NASDAQ -100 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 30.95% | 14.14% |

---

## 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>** |
| $17231360 | 106 | $109019 | 18.43% |

---

## What did the Fund invest in?

## Asset/Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](ibd5b9933a293313aa35accb6.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Written Options | -5.9% |
| Real Estate | 0.2% |
| Purchased Options | 0.2% |
| Financials | 0.3% |
| Energy | 0.5% |
| Materials | 1.1% |
| Utilities | 1.5% |
| Industrials | 4.1% |
| Consumer Staples | 4.6% |
| Health Care | 4.6% |
| Consumer Discretionary | 13.9% |
| Communication Services | 15.6% |
| Information Technology | 59.2% |

---

---

| | |
|:---|:---|
| 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 | 10.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple | 8.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft | 8.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom | 6.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com | 5.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tesla | 3.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl A | 3.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Cl C | 3.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 3.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Netflix | 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/qrmi/ 

# Global X Funds

## Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF: QRMI
**Principal Listing Exchange: Nasdaq**

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

**GX-AR-QRMI-2025**

![Image](iad021680f2a76c264c31993a.jpg)

# Global X Funds
![Image](iad021680f2a76c264c31993a.jpg)

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

## Ticker: XRMI

## 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> Risk Managed Income 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/xrmi/. 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> Risk Managed Income ETF | $62 | 0.60% |

---

## 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 Risk Managed Income Index ("Secondary Index").

The Secondary Index measures the performance of a risk managed income strategy that holds the underlying stocks of the S&P 500 Index ("Reference Index") and applies an options collar strategy which is 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 the 5% out-of-the-money ("OTM") put options and a short position in at-the-money ("ATM") call options, each corresponding to the value of the portfolio of stocks in the Reference Index. The options collar seeks to generate a net-credit, meaning that the premium received from the sale of the call options will be greater than the premium paid when buying the put options.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 7.06%, while the Secondary Index increased 7.74%. The Fund had a net asset value of $18.78 per share on October 31, 2024 and ended the reporting period with a net asset value of $17.80 per share on October 31, 2025.

The Fund delivered positive returns during the reporting period, supported by a combination of equity exposure and an options-based income overlay. Periods of elevated market volatility supported option premium generation, providing meaningful income that helped cushion equity pullbacks. Strength in U.S. large-cap technology and communication services stocks also contributed to overall results, even as higher interest rates occasionally weighed on more rate-sensitive segments. Shifting expectations for Federal Reserve policy and uneven inflation data drove alternating rallies and dips, an environment in which an income-focused, risk-managed approach proved relatively resilient. Taken together, these dynamics produced a constructive total result for the period.

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

## Total Return Based on $10,000 Investment
![Growth Chart](i45c61e622fd0dab2b8a7307b.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X S&P 500<sup>®</sup> Risk Managed Income ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **Cboe S&P 500 Risk Managed Income Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** |
| **Aug/21** | $10000 | $10000 | $10000 |
| **Oct/21** | $10160 | $10266 | $10182 |
| **Oct/22** | $8901 | $8766 | $8939 |
| **Oct/23** | $8847 | $9655 | $8954 |
| **Oct/24** | $10095 | $13325 | $10291 |
| **Oct/25** | $10807 | $16184 | $11088 |

---

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/xrmi/ 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> Risk Managed Income ETF | 7.06% | 1.87% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 12.19% |
| Cboe S&P 500 Risk Managed Income Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 7.74% | 2.50% |

---

## 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>** |
| $43427196 | 507 | $267199 | 9.81% |

---

## What did the Fund invest in?

## Asset/Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i584957148ecd6bd7f6ba337e.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Written Options | -4.0% |
| Purchased Options | 0.1% |
| Materials | 1.7% |
| Real Estate | 1.9% |
| Utilities | 2.4% |
| Energy | 2.9% |
| Consumer Staples | 4.9% |
| Industrials | 8.4% |
| Health Care | 9.3% |
| Communication Services | 10.5% |
| Consumer Discretionary | 10.9% |
| Financials | 13.3% |
| Information Technology | 37.6% |

---

---

| | |
|:---|:---|
| 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</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA | 8.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple | 7.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft | 6.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amazon.com | 4.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom | 3.1% |
| &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 | 2.3% |
| &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/xrmi/ 

# Global X Funds

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

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

**GX-AR-XRMI-2025**

![Image](iad021680f2a76c264c31993a.jpg)

# Global X Funds
![Image](iad021680f2a76c264c31993a.jpg)

## Global X Dow 30<sup>®</sup> Covered Call ETF

## Ticker: DJIA

## Principal Listing Exchange: NYSE Arca, Inc.

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X Dow 30<sup>®</sup> Covered Call 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/djia/. 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 Dow 30<sup>®</sup> Covered Call ETF | $64 | 0.60% |

---

## 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 DJIA Cboe BuyWrite v2 Index ("Secondary Index").

The Secondary Index measures the performance of a covered call strategy that holds a theoretical portfolio of the underlying stocks of the DJIA Index (the "Reference Index") and "writes" (or sells) a succession of one-month at-the-money ("ATM") covered call options on the Reference Index.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 12.45%, while the Secondary Index increased 13.25%. The Fund had a net asset value of $22.23 per share on October 31, 2024 and ended the reporting period with a net asset value of $22.05 per share on October 31, 2025.

The Fund's performance was positive during the reporting period, supported by option premiums that helped cushion downside during instances of intermittent market swings. Shifting expectations around U.S. inflation and Federal Reserve policy created bouts of rate-driven volatility. However, when inflation appeared to stabilize and growth held up, cyclical holdings tended to remain steady. This helped counterbalance periods of rising yields that tightened financial conditions and dampened investor sentiment. Large-cap earnings were generally resilient across several economically sensitive industries, aiding results, despite the Fund's covered call overlay curtailing upside participation during sharp market rallies. Macro headlines around fiscal negotiations, geopolitics, and supply chain normalization spurred rotations between defensive and cyclical holdings, but option premiums provided a consistent contribution to total returns when prices softened. Overall, income generation combined with supportive pockets of corporate results outweighed intermittent pressure from rate volatility and headline risk, producing positive results during the reporting period.

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

## Total Return Based on $10,000 Investment
![Growth Chart](i4a3aaf326740bc5f633ee7a2.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Global X Dow 30<sup>®</sup> Covered Call ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **DJIA Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **DJIA CBOE BuyWrite v2 Index (USD) (TR)<sup>Footnote Reference\*</sup>** |
| **Feb/22** | $10000 | $10000 | $10000 | $10000 |
| **Oct/22** | $9723 | $9264 | $10018 | $9802 |
| **Oct/23** | $10044 | $10203 | $10335 | $10220 |
| **Oct/24** | $11436 | $14082 | $13317 | $11731 |
| **Oct/25** | $12859 | $17103 | $15426 | $13286 |

---

Since its inception on February 23, 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/djia/ 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 Dow 30<sup>®</sup> Covered Call ETF | 12.45% | 7.06% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 15.67% |
| DJIA Index (USD) (TR)<sup>Footnote Reference\*</sup> | 15.84% | 12.47% |
| DJIA CBOE BuyWrite v2 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 13.25% | 8.01% |

---

## 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>** |
| $133603392 | 32 | $739030 | 13.50% |

---

## What did the Fund invest in?

## Asset/Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i01a8a09c8c6ecff4b73c3853.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Written Option | -4.0% |
| Communication Services | 2.0% |
| Energy | 2.1% |
| Consumer Staples | 4.3% |
| Materials | 4.8% |
| Health Care | 12.3% |
| Consumer Discretionary | 13.2% |
| Industrials | 15.4% |
| Information Technology | 21.9% |
| Financials | 27.8% |

---

---

| | |
|:---|:---|
| 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;Goldman Sachs Group | 10.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Caterpillar | 7.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft | 7.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Home Depot | 5.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;American Express | 4.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Sherwin-Williams | 4.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group | 4.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Visa, Cl A | 4.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase | 4.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;International Business Machines | 4.1% |

---

## 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/djia/ 

# Global X Funds

## Global X Dow 30<sup>®</sup> Covered Call ETF: DJIA
**Principal Listing Exchange: NYSE Arca, Inc.**

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

**GX-AR-DJIA-2025**

![Image](iad021680f2a76c264c31993a.jpg)

# Global X Funds
![Image](iad021680f2a76c264c31993a.jpg)

## Global X Russell 2000 Covered Call & Growth ETF

## Ticker: RYLG

## 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 Covered Call & Growth 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/rylg/. 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 Covered Call & Growth ETF | $37 | 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 Cboe Russell 2000 Half BuyWrite 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 covered call strategy that holds a theoretical portfolio of the underlying stocks of the Russell 2000 Index ("Reference Index") and "writes" (or sells) a succession of one-month at-the-money covered call options on the Reference Index. The written covered call options on the Reference Index correspond to approximately 50% of 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 11.44%, while the Secondary Index increased 12.17%. The Fund had a net asset value of $25.65 per share on October 31, 2024 and ended the reporting period with a net asset value of $22.96 on October 31, 2025.

During the reporting period the Fund posted positive returns. Shifting expectations for Federal Reserve policy and periods of easing inflation supported sentiment toward smaller U.S. companies. However, concerns that interest rates might remain higher for longer, along with tighter financial conditions created intermittent headwinds. The Fund's covered call overlay helped mitigate these challenges by generating option premiums that cushioned pullbacks. Periods of elevated market volatility likely enhanced premium income, providing support even when prices were uneven. Intermittent improvements in domestic growth indicators and earnings breadth among smaller firms contributed to advances, though occasional risk-off moves limited upside. Together, the combination of income from call writing and selective growth exposure produced a net positive outcome despite a choppy market backdrop.

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

## Total Return Based on $10,000 Investment
![Growth Chart](ie196a08efe9935340693a751.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Global X Russell 2000 Covered Call & Growth ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **Cboe Russell 2000 Half BuyWrite Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** | **Russell 2000 Index (USD) (TR)<sup>Footnote Reference\*</sup>** |
| **Oct/22** | $10000 | $10000 | $10000 | $10000 |
| **Oct/22** | $10314 | $10223 | $10298 | $10406 |
| **Oct/23** | $9473 | $11260 | $9509 | $9515 |
| **Oct/24** | $11663 | $15541 | $11759 | $12757 |
| **Oct/25** | $12998 | $18875 | $13191 | $14596 |

---

Since its inception on October 4, 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/rylg/ 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 Russell 2000 Covered Call & Growth ETF | 11.44% | 8.90% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 22.93% |
| Cboe Russell 2000 Half BuyWrite Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 12.17% | 9.42% |
| Russell 2000 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 14.41% | 13.08% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | |
|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $8036835<sub>3</sub> | $25441 | 5.24% |

---

## What did the Fund invest in?

## Asset Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i337f65bc6509bf91f75afed5.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Written Options | -1.5% |
| Exchange-Traded Fund | 101.4% |

---

---

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

---

## Top Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;Global X Russell 2000 ETF<sup>Footnote Reference\*\*</sup> | 101.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Written Option - Cboe Mini-Russell 2000 Index, $248, 11/21/25 | 0.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Written Option - Russell 2000 Index, $2,450, 11/21/25 | -1.4% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*\*</sup> | &nbsp;&nbsp;Affiliated Investment |

---

## 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/rylg/ 

# Global X Funds

## Global X Russell 2000 Covered Call & Growth ETF: RYLG
**Principal Listing Exchange: NYSE Arca, Inc.**

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

**GX-AR-RYLG-2025**

![Image](iad021680f2a76c264c31993a.jpg)

# Global X Funds
![Image](iad021680f2a76c264c31993a.jpg)

## Global X Information Technology Covered Call & Growth ETF

## Ticker: TYLG

## Principal Listing Exchange: NYSE Arca, Inc.

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X Information Technology Covered Call & Growth 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/tylg/. 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 Information Technology Covered Call & Growth ETF | $63 | 0.56% |

---

## 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 Technology Select Sector Half BuyWrite 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 measures the performance of a partially covered call strategy that holds a theoretical portfolio of the underlying securities of the Information Technology Select Sector Index ("Reference Index"). The Secondary Index "writes" (or sells) a succession of one-month at-the- money covered call options on the Information Technology Select Sector SPDR<sup>®</sup> Fund, or such other fund that seeks to track the performance of the Reference Index, as determined by Cboe. The call options correspond to approximately 50% of the value of the securities in the Reference Index, creating a partially covered call strategy.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 24.83%, while the Secondary Index increased 25.91%. The Fund had a net asset value of $32.36 per share on October 31, 2024 and ended the reporting period with a net asset value of $37.24 on October 31, 2025.

The Fund recorded positive returns during the reporting period, aided by continued strength in U.S. technology leaders tied to artificial intelligence demand and data center spending. Its partial covered call writing strategy also contributed to total returns, generating option premiums throughout the year that were periodically enhanced by bouts of market volatility. Strong earnings and product cycles from AI beneficiaries further supported sentiment, though intermittent pullbacks occurred when broader economic uncertainty tempered investor confidence in the near-term delivery of AI-related growth expectations. A quarter-point Federal Reserve rate cut in September to a 4.00%–4.25% target range reduced discount-rate pressures on long-duration growth shares, providing an additional tailwind into quarter-end. Policy developments around U.S. controls on advanced AI chip exports created a mixed backdrop for semiconductors, but investors largely viewed the measures as reinforcing domestic leadership while limiting certain overseas risks.

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

## Total Return Based on $10,000 Investment
![Growth Chart](if8cfc162addb93a312a92453.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Global X Information Technology Covered Call & Growth ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **Cboe S&P Technology Select Sector Half BuyWrite Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** | **Information Technology Select Sector Index (USD) (TR)<sup>Footnote Reference\*</sup>** |
| **Nov/22** | $10000 | $10000 | $10000 | $10000 |
| **Oct/23** | $12327 | $10780 | $12397 | $12684 |
| **Oct/24** | $15776 | $14878 | $16039 | $17337 |
| **Oct/25** | $19693 | $18070 | $20195 | $23608 |

---

Since its inception on November 21, 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/tylg/ 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 Information Technology Covered Call & Growth ETF | 24.83% | 25.87% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 22.25% |
| Cboe S&P Technology Select Sector Half BuyWrite Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 25.91% | 26.95% |
| Information Technology Select Sector Index (USD) (TR)<sup>Footnote Reference\*</sup> | 36.17% | 33.86% |

---

## 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>** |
| $11170504 | 70 | $57898 | 4.30% |

---

## What did the Fund invest in?

## Asset/Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i3c97fbd4326712cac34db9b5.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Written Option | -3.2% |
| Information Technology | 49.1% |
| Exchange-Traded Fund | 54.0% |

---

---

| | |
|:---|:---|
| 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;Technology Select Sector SPDR Fund | 54.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;NVIDIA | 7.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple | 6.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft | 5.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Broadcom | 2.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Palantir Technologies, Cl A | 1.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Advanced Micro Devices | 1.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Oracle | 1.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Cisco Systems | 1.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;International Business Machines | 1.2% |

---

## 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/tylg/ 

# Global X Funds

## Global X Information Technology Covered Call & Growth ETF: TYLG
**Principal Listing Exchange: NYSE Arca, Inc.**

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

**GX-AR-TYLG-2025**

![Image](iad021680f2a76c264c31993a.jpg)

# Global X Funds
![Image](iad021680f2a76c264c31993a.jpg)

## Global X Dow 30<sup>®</sup> Covered Call & Growth ETF

## Ticker: DYLG

## Principal Listing Exchange: NYSE Arca, Inc.

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X Dow 30<sup>®</sup> Covered Call & Growth 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/dylg/. 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 Dow 30<sup>®</sup> Covered Call & Growth ETF | $37 | 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 Cboe DJIA Half BuyWrite Index ("Secondary Index").

The Secondary Index measures the performance of a partially covered call strategy that holds a theoretical portfolio of the underlying stocks of the DJIA Index ("Reference Index") and "writes" (or sells) a succession of one-month at-the-money covered call options on the same. The call options correspond to approximately 50% of the value of the securities in the Reference Index, thereby creating a partially covered call strategy.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 14.07%, while the Secondary Index increased 14.57%. The Fund had a net asset value of $28.36 per share on October 31, 2024 and ended the reporting period with a net asset value of $27.51 on October 31, 2025.

During the reporting period the Fund's performance was positive, supported by income from covered call premiums and dividends across blue-chip holdings. Shifts in United States interest-rate expectations and periods of equity volatility contributed to option premium income, adding to the Fund's returns. Resilient earnings from large companies in the industrials, health care, and select technology sectors helped offset softness in more rate-sensitive segments. Intermittent pullbacks in cyclicals limited upside at times, but the mix of defensive dividend payers and premium income helped sustain gains over the reporting period. Overall, the strategy benefited when markets traded sideways-to-up with elevated volatility, though the Fund still participated to a lesser extent, during stronger equity rallies due to the call overlay.

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

## Total Return Based on $10,000 Investment
![Growth Chart](ia2fbd47233ae4d47e5a47858.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Global X Dow 30<sup>®</sup> Covered Call & Growth ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **Cboe DJIA Half BuyWrite Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** | **DJIA Index (USD) (TR)<sup>Footnote Reference\*</sup>** |
| **Jul/23** | $10000 | $10000 | $10000 | $10000 |
| **Oct/23** | $9465 | $9220 | $9469 | $9377 |
| **Oct/24** | $11464 | $12725 | $11484 | $12082 |
| **Oct/25** | $13078 | $15454 | $13158 | $13997 |

---

Since its inception on July 25, 2023. 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/dylg/ 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 Dow 30<sup>®</sup> Covered Call & Growth ETF | 14.07% | 12.54% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 21.13% |
| Cboe DJIA Half BuyWrite Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 14.57% | 12.84% |
| DJIA Index (USD) (TR)<sup>Footnote Reference\*</sup> | 15.84% | 15.96% |

---

## 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>** |
| $4126235 | 32 | $8463 | 11.74% |

---

## What did the Fund invest in?

## Asset/Sector Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i193ec6b359c6dcc71e3b6b7f.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Written Option | -1.9% |
| Communication Services | 2.0% |
| Energy | 2.1% |
| Consumer Staples | 4.2% |
| Materials | 4.7% |
| Health Care | 12.0% |
| Consumer Discretionary | 13.0% |
| Industrials | 15.1% |
| Information Technology | 21.5% |
| Financials | 27.2% |

---

---

| | |
|:---|:---|
| 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;Goldman Sachs Group | 10.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Caterpillar | 7.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Microsoft | 6.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Home Depot | 5.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;American Express | 4.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Sherwin-Williams | 4.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group | 4.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Visa, Cl A | 4.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase | 4.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;International Business Machines | 4.0% |

---

## 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/dylg/ 

# Global X Funds

## Global X Dow 30<sup>®</sup> Covered Call & Growth ETF: DYLG
**Principal Listing Exchange: NYSE Arca, Inc.**

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

**GX-AR-DYLG-2025**

![Image](iad021680f2a76c264c31993a.jpg)

# Global X Funds
![Image](iad021680f2a76c264c31993a.jpg)

## Global X MLP & Energy Infrastructure Covered Call ETF

## Ticker: MLPD

## Principal Listing Exchange: NYSE Arca, Inc.

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about the Global X MLP & Energy Infrastructure Covered Call 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/mlpd/. 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 MLP & Energy Infrastructure Covered Call ETF | $62 | 0.60% |

---

## 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 MLPX ATM BuyWrite 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 theoretical portfolio that takes a long position in the Global X MLP & Energy Infrastructure ETF (Ticker: MLPX) ("Reference Fund"), an affiliate of the Fund, and "writes" (or sells) a succession of at-the-money ("ATM") call options with monthly expirations on the Reference Fund. The covered call options on the Reference Fund are held until the day prior to expiration and are liquidated at a theoretical price, as defined by Cboe, the provider of the Secondary Index. The Reference Fund seeks to track the performance of the underlying Energy Infrastructure sector.

For the 12-month period ended October 31, 2025 (the "reporting period"), the Fund increased 7.92%, while the Secondary Index increased 2.42% . The Fund had a net asset value of $25.50 per share on October 31, 2024, and ended the reporting period with a net asset value of $24.50 on October 31, 2025.

Performance over the reporting period was positive, supported by a backdrop where needs for pipelines and storage remained resilient. Decisions by OPEC plus to adjust supply, including steps to unwind earlier cuts, at times weighed on crude benchmarks. Even as periods of softer price expectations emerged, the fee-based nature of energy infrastructure helped cushion volatility and kept cash generation steady. The resumption of federal liquefied natural gas (LNG) permitting and progress on new Gulf Coast projects reinforced long run demand for gathering, compression, and export infrastructure. Natural Gas Liquids (NGL) dynamics also provided support as China eased barriers to U.S. ethane, encouraging steady flows from Gulf Coast terminals and healthy utilization of fractionation and dock capacity. Taken together, these large-scale forces favored income-oriented energy infrastructure holdings and underpinned the Fund's positive performance, even as periodic commodity price volatility helped enhance options premiums.

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

## Total Return Based on $10,000 Investment
![Growth Chart](i00964d9abcb75fb3bf6043f4.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Global X MLP & Energy Infrastructure Covered Call ETF** | **S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup>** | **Cboe MLPX ATM BuyWrite Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup>** |
| **May/24** | $10000 | $10000 | $10000 |
| **May/24** | $10062 | $10187 | $9950 |
| **Jun/24** | $10201 | $10552 | $10102 |
| **Jul/24** | $10354 | $10681 | $10243 |
| **Aug/24** | $10528 | $10940 | $10339 |
| **Sep/24** | $10625 | $11173 | $10352 |
| **Oct/24** | $10709 | $11072 | $10337 |
| **Nov/24** | $11084 | $11722 | $10649 |
| **Dec/24** | $10982 | $11443 | $10601 |
| **Jan/25** | $10680 | $11761 | $10302 |
| **Feb/25** | $10924 | $11608 | $10530 |
| **Mar/25** | $11051 | $10954 | $10631 |
| **Apr/25** | $10739 | $10880 | $10227 |
| **May/25** | $11027 | $11564 | $10476 |
| **Jun/25** | $11402 | $12152 | $10661 |
| **Jul/25** | $11649 | $12425 | $10745 |
| **Aug/25** | $11851 | $12677 | $10902 |
| **Sep/25** | $12083 | $13140 | $11067 |
| **Oct/25** | $11557 | $13447 | $10588 |

---

Since its inception on May 7, 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/mlpd/ 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 MLP & Energy Infrastructure Covered Call ETF | 7.92% | 10.24% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 22.08% |
| Cboe MLPX ATM BuyWrite Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 2.42% | 3.92% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | |
|:---|:---|:---|
| **<u>Total Net Assets</u>** | **<u>Total Advisory Fees Paid</u>** | **<u>Portfolio Turnover Rate</u>** |
| $11027195<sub>2</sub> | $61675 | 15.69% |

---

## What did the Fund invest in?

## Asset Weightings<sup>**Footnote Reference \***</sup>
![Holdings Chart](i929e48e0ff08596852ef38b5.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Written Option | -1.2% |
| Exchange-Traded Fund | 101.1% |

---

---

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

---

## Top Holdings

---

| | |
|:---|:---|
| **<u>Holding Name</u>** | **<u>Percentage of Total Net Assets</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;Global X MLP & Energy Infrastructure ETF<sup>Footnote Reference\*\*</sup> | 101.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Written Option - Global X MLP & Energy Infrastructure ETF, $59, 11/21/25 | -1.2% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*\*</sup> | &nbsp;&nbsp;Affiliated Investment |

---

## 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/mlpd/ 

# Global X Funds

## Global X MLP & Energy Infrastructure Covered Call ETF: MLPD
**Principal Listing Exchange: NYSE Arca, Inc.**

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

**GX-AR-MLPD-2025**

![Image](iad021680f2a76c264c31993a.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_c114720x1x1m4.jpg)

**Global X S&P 500<sup>®</sup> Covered Call ETF (ticker: XYLD)**

**Global X NASDAQ 100<sup>®</sup> Covered Call ETF (ticker: QYLD)**

**Global X Russell 2000 Covered Call ETF (ticker: RYLD)**

**Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF (ticker: QYLG)**

**Global X S&P 500<sup>®</sup> Covered Call & Growth ETF (ticker: XYLG)**

**Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF (ticker: QRMI)**

**Global X S&P 500<sup>®</sup> Risk Managed Income ETF (ticker: XRMI)**

**Global X Dow 30<sup>®</sup> Covered Call ETF (ticker: DJIA)**

**Global X Russell 2000 Covered Call & Growth ETF (ticker: RYLG)**

**Global X Information Technology Covered Call & Growth ETF (ticker: TYLG)**

**Global X Dow 30<sup>®</sup> Covered Call & Growth ETF (ticker: DYLG)**

**Global X MLP & Energy Infrastructure Covered Call ETF (ticker: MLPD)**

**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](#xx1xc114720a001xm4) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X S&P 500<sup>®</sup> Covered Call ETF](#xx1xc114720a002xm4) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X NASDAQ 100<sup>®</sup> Covered Call ETF](#xx1xc114720a003xm4) | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X Russell 2000 Covered Call ETF](#xx1xc114720a004xm4) | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF](#xx1xc114720a005xm4) | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X S&P 500<sup>®</sup> Covered Call & Growth ETF](#xx1xc114720a006xm4) | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF](#xx1xc114720a007xm4) | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X S&P 500<sup>®</sup> Risk Managed Income ETF](#xx1xc114720a008xm4) | 54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X Dow 30<sup>®</sup> Covered Call ETF](#xx1xc114720a009xm4) | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X Russell 2000 Covered Call & Growth ETF](#xx1xc114720a010xm4) | 73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X Information Technology Covered Call & Growth ETF](#xx1xc114720a011xm4) | 75 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X Dow 30<sup>®</sup> Covered Call & Growth ETF](#xx1xc114720a012xm4) | 79 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Global X MLP & Energy Infrastructure Covered Call ETF](#xx1xc114720a013xm4) | 82 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Glossary](#xx1xc114720a014xm4) | 84 |
| &nbsp;&nbsp;&nbsp;[Statements of Assets and Liabilities](#xx1xc114720a015xm4) | 85 |
| &nbsp;&nbsp;&nbsp;[Statements of Operations](#xx1xc114720a016xm4) | 88 |
| &nbsp;&nbsp;&nbsp;[Statements of Changes in Net Assets](#xx1xc114720a017xm4) | 91 |
| &nbsp;&nbsp;&nbsp;[Financial Highlights](#xx1xc114720a018xm4) | 97 |
| &nbsp;&nbsp;&nbsp;[Notes to Financial Statements](#xx1xc114720a019xm4) | 105 |
| [Report of Independent Registered Public Accounting Firm](#xx1xc114720a020xm4) | 128 |
| [Notice to Shareholders (Unaudited)](#xx1xc114720a021xm4) | 130 |
| [Other Information (Form N-CSR Items 8-11) (Unaudited)](#xx1xc114720a022xm4) | 132 |

---

Shares are bought and sold at market price (not NAV) and are not individually redeemed from a Fund. Shares may only be redeemed directly from a Fund by Authorized Participants, in very large creation/redemption units. Brokerage commissions will reduce returns.

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 103.8%** |  |  |
| **NETHERLANDS — 0.1%** |  |  |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors <sup>(A)</sup> | 13709 | $2866826 |
| **SWITZERLAND — 0.1%** |  |  |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;TE Connectivity PLC <sup>(A)</sup> | 16149 | 3988965 |
| **UNITED STATES — 103.6%** |  |  |
| Communication Services — 10.5% |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl A <sup>(A)</sup> | 316766 | 89071431 |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl C <sup>(A)</sup> | 254300 | 71666826 |
| &nbsp;&nbsp;&nbsp;AT&T <sup>(A)</sup> | 389581 | 9642130 |
| &nbsp;&nbsp;&nbsp;Charter Communications, Cl A <sup>\*(A)</sup> | 4835 | 1130616 |
| &nbsp;&nbsp;&nbsp;Comcast, Cl A <sup>(A)</sup> | 196534 | 5470524 |
| &nbsp;&nbsp;&nbsp;Electronic Arts <sup>(A)</sup> | 12008 | 2402320 |
| &nbsp;&nbsp;&nbsp;Fox, Cl A <sup>(A)</sup> | 10967 | 709017 |
| &nbsp;&nbsp;&nbsp;Fox, Cl B <sup>(A)</sup> | 7716 | 450692 |
| &nbsp;&nbsp;&nbsp;Interpublic Group <sup>(A)</sup> | 18721 | 480381 |
| &nbsp;&nbsp;&nbsp;Live Nation Entertainment <sup>\*(A)</sup> | 9322 | 1393919 |
| &nbsp;&nbsp;&nbsp;Match Group <sup>(A)</sup> | 13293 | 429896 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A <sup>(A)</sup> | 118110 | 76576618 |
| &nbsp;&nbsp;&nbsp;Netflix \*<sup>(A)</sup> | 23143 | 25893777 |
| &nbsp;&nbsp;&nbsp;News, Cl A <sup>(A)</sup> | 19419 | 514603 |
| &nbsp;&nbsp;&nbsp;News, Cl B <sup>(A)</sup> | 6413 | 195404 |
| &nbsp;&nbsp;&nbsp;Omnicom Group <sup>(A)</sup> | 10627 | 797238 |
| &nbsp;&nbsp;&nbsp;Paramount Skydance Corp, Cl B <sup>(A)</sup> | 15524 | 238914 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software <sup>\*(A)</sup> | 9787 | 2509093 |
| &nbsp;&nbsp;&nbsp;TKO Group Holdings, Cl A <sup>(A)</sup> | 4120 | 776208 |
| &nbsp;&nbsp;&nbsp;T-Mobile US <sup>(A)</sup> | 26460 | 5557923 |
| &nbsp;&nbsp;&nbsp;Trade Desk, Cl A <sup>\*(A)</sup> | 23399 | 1176502 |
| &nbsp;&nbsp;&nbsp;Verizon Communications <sup>(A)</sup> | 225434 | 8958747 |
| &nbsp;&nbsp;&nbsp;Walt Disney <sup>(A)</sup> | 97956 | 11031805 |
| &nbsp;&nbsp;&nbsp;Warner Bros Discovery <sup>\*(A)</sup> | 126007 | 2828857 |
|  |  | 319903441 |
| Consumer Discretionary — 10.9% |  |  |
| &nbsp;&nbsp;&nbsp;Airbnb, Cl A <sup>\*(A)</sup> | 23582 | 2984066 |
| &nbsp;&nbsp;&nbsp;Amazon.com <sup>\*(A)</sup> | 528481 | 129065630 |

---

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

*1*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;APTIV PLC <sup>\*(A)</sup> | 11329 | $918782 |
| &nbsp;&nbsp;&nbsp;AutoZone <sup>\*(A)</sup> | 954 | 3505406 |
| &nbsp;&nbsp;&nbsp;Best Buy <sup>(A)</sup> | 11529 | 946992 |
| &nbsp;&nbsp;&nbsp;Booking Holdings <sup>(A)</sup> | 1772 | 8997755 |
| &nbsp;&nbsp;&nbsp;Carnival <sup>\*(A)</sup> | 58733 | 1693272 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Cl A <sup>\*(A)</sup> | 71336 | 2260638 |
| &nbsp;&nbsp;&nbsp;Darden Restaurants <sup>(A)</sup> | 6898 | 1242675 |
| &nbsp;&nbsp;&nbsp;Deckers Outdoor <sup>\*(A)</sup> | 9007 | 734070 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza <sup>(A)</sup> | 1661 | 661842 |
| &nbsp;&nbsp;&nbsp;DoorDash, Cl A <sup>\*(A)</sup> | 20181 | 5133441 |
| &nbsp;&nbsp;&nbsp;DR Horton <sup>(A)</sup> | 14732 | 2196247 |
| &nbsp;&nbsp;&nbsp;eBay <sup>(A)</sup> | 24674 | 2006243 |
| &nbsp;&nbsp;&nbsp;Expedia Group <sup>(A)</sup> | 6202 | 1364440 |
| &nbsp;&nbsp;&nbsp;Ford Motor <sup>(A)</sup> | 207586 | 2725604 |
| &nbsp;&nbsp;&nbsp;Garmin <sup>(A)</sup> | 9138 | 1954984 |
| &nbsp;&nbsp;&nbsp;General Motors <sup>(A)</sup> | 50574 | 3494158 |
| &nbsp;&nbsp;&nbsp;Genuine Parts <sup>(A)</sup> | 8224 | 1046997 |
| &nbsp;&nbsp;&nbsp;Hasbro <sup>(A)</sup> | 7702 | 587740 |
| &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings <sup>(A)</sup> | 12903 | 3315555 |
| &nbsp;&nbsp;&nbsp;Home Depot <sup>(A)</sup> | 54190 | 20569982 |
| &nbsp;&nbsp;&nbsp;Las Vegas Sands <sup>(A)</sup> | 16165 | 959393 |
| &nbsp;&nbsp;&nbsp;Lennar, Cl A <sup>(A)</sup> | 11954 | 1479547 |
| &nbsp;&nbsp;&nbsp;LKQ <sup>(A)</sup> | 13055 | 417238 |
| &nbsp;&nbsp;&nbsp;Lowe's <sup>(A)</sup> | 29924 | 7125802 |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica <sup>\*(A)</sup> | 6598 | 1125223 |
| &nbsp;&nbsp;&nbsp;Marriott International, Cl A <sup>(A)</sup> | 12294 | 3203571 |
| &nbsp;&nbsp;&nbsp;McDonald's <sup>(A)</sup> | 38553 | 11505372 |
| &nbsp;&nbsp;&nbsp;MGM Resorts International <sup>\*(A)</sup> | 10414 | 333560 |
| &nbsp;&nbsp;&nbsp;Mohawk Industries <sup>\*(A)</sup> | 3162 | 359330 |
| &nbsp;&nbsp;&nbsp;NIKE, Cl B <sup>(A)</sup> | 63385 | 4094037 |
| &nbsp;&nbsp;&nbsp;Norwegian Cruise Line Holdings <sup>\*(A)</sup> | 24875 | 557698 |
| &nbsp;&nbsp;&nbsp;NVR <sup>\*(A)</sup> | 155 | 1117677 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive <sup>\*(A)</sup> | 46262 | 4368983 |
| &nbsp;&nbsp;&nbsp;Pool <sup>(A)</sup> | 1732 | 462548 |
| &nbsp;&nbsp;&nbsp;PulteGroup <sup>(A)</sup> | 10468 | 1254799 |
| &nbsp;&nbsp;&nbsp;Ralph Lauren, Cl A <sup>(A)</sup> | 2428 | 776134 |
| &nbsp;&nbsp;&nbsp;Ross Stores <sup>(A)</sup> | 17848 | 2836404 |
| &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises <sup>(A)</sup> | 13711 | 3932726 |
| &nbsp;&nbsp;&nbsp;Starbucks <sup>(A)</sup> | 60621 | 4902420 |

---

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

*2*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;Tapestry <sup>(A)</sup> | 12357 | $1357046 |
| &nbsp;&nbsp;&nbsp;Tesla <sup>\*(A)</sup> | 152812 | 69767847 |
| &nbsp;&nbsp;&nbsp;TJX <sup>(A)</sup> | 59567 | 8347719 |
| &nbsp;&nbsp;&nbsp;Tractor Supply <sup>(A)</sup> | 27976 | 1513781 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty <sup>\*(A)</sup> | 2418 | 1257070 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma <sup>(A)</sup> | 7257 | 1410325 |
| &nbsp;&nbsp;&nbsp;Wynn Resorts <sup>(A)</sup> | 5177 | 616011 |
| &nbsp;&nbsp;&nbsp;Yum! Brands <sup>(A)</sup> | 15155 | 2094573 |
|  |  | 334583353 |
| Consumer Staples — 4.9% |  |  |
| &nbsp;&nbsp;&nbsp;Altria Group <sup>(A)</sup> | 91567 | 5162547 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland <sup>(A)</sup> | 25443 | 1540065 |
| &nbsp;&nbsp;&nbsp;Brown-Forman, Cl B <sup>(A)</sup> | 8677 | 236275 |
| &nbsp;&nbsp;&nbsp;Bunge Global <sup>(A)</sup> | 7863 | 743840 |
| &nbsp;&nbsp;&nbsp;Church & Dwight <sup>(A)</sup> | 12762 | 1119100 |
| &nbsp;&nbsp;&nbsp;Clorox <sup>(A)</sup> | 7253 | 815672 |
| &nbsp;&nbsp;&nbsp;Coca-Cola <sup>(A)</sup> | 210997 | 14537693 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive <sup>(A)</sup> | 44379 | 3419402 |
| &nbsp;&nbsp;&nbsp;Conagra Brands <sup>(A)</sup> | 26417 | 454108 |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Cl A <sup>(A)</sup> | 7484 | 983248 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale <sup>(A)</sup> | 24154 | 22015163 |
| &nbsp;&nbsp;&nbsp;Dollar General <sup>(A)</sup> | 12909 | 1273602 |
| &nbsp;&nbsp;&nbsp;Dollar Tree <sup>\*(A)</sup> | 10228 | 1013799 |
| &nbsp;&nbsp;&nbsp;Estee Lauder, Cl A <sup>(A)</sup> | 12236 | 1183099 |
| &nbsp;&nbsp;&nbsp;General Mills <sup>(A)</sup> | 28165 | 1312771 |
| &nbsp;&nbsp;&nbsp;Hershey <sup>(A)</sup> | 7826 | 1327524 |
| &nbsp;&nbsp;&nbsp;Hormel Foods <sup>(A)</sup> | 14752 | 318496 |
| &nbsp;&nbsp;&nbsp;J M Smucker <sup>(A)</sup> | 6221 | 644184 |
| &nbsp;&nbsp;&nbsp;Kellanova <sup>(A)</sup> | 14714 | 1222145 |
| &nbsp;&nbsp;&nbsp;Kenvue <sup>(A)</sup> | 101694 | 1461343 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper <sup>(A)</sup> | 71887 | 1952451 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark <sup>(A)</sup> | 18116 | 2168666 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz <sup>(A)</sup> | 44820 | 1108399 |
| &nbsp;&nbsp;&nbsp;Kroger <sup>(A)</sup> | 33092 | 2105644 |
| &nbsp;&nbsp;&nbsp;Lamb Weston Holdings <sup>(A)</sup> | 8386 | 517668 |
| &nbsp;&nbsp;&nbsp;McCormick <sup>(A)</sup> | 13185 | 845950 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage, Cl B <sup>(A)</sup> | 9353 | 408913 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Cl A <sup>(A)</sup> | 68978 | 3963476 |

---

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

*3*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Staples — continued |  |  |
| &nbsp;&nbsp;&nbsp;Monster Beverage <sup>\*(A)</sup> | 38900 | $2599687 |
| &nbsp;&nbsp;&nbsp;PepsiCo <sup>(A)</sup> | 74589 | 10896707 |
| &nbsp;&nbsp;&nbsp;Philip Morris International <sup>(A)</sup> | 84797 | 12238751 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble <sup>(A)</sup> | 127587 | 19185257 |
| &nbsp;&nbsp;&nbsp;Sysco <sup>(A)</sup> | 26076 | 1936925 |
| &nbsp;&nbsp;&nbsp;Target <sup>(A)</sup> | 24633 | 2283972 |
| &nbsp;&nbsp;&nbsp;The Campbell's Company <sup>(A)</sup> | 9970 | 300396 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Cl A <sup>(A)</sup> | 15678 | 806006 |
| &nbsp;&nbsp;&nbsp;Walmart <sup>(A)</sup> | 239055 | 24187585 |
|  |  | 148290529 |
| Energy — 2.9% |  |  |
| &nbsp;&nbsp;&nbsp;APA <sup>(A)</sup> | 18174 | 411641 |
| &nbsp;&nbsp;&nbsp;Baker Hughes, Cl A <sup>(A)</sup> | 53819 | 2605378 |
| &nbsp;&nbsp;&nbsp;Chevron <sup>(A)</sup> | 104067 | 16413447 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips <sup>(A)</sup> | 68078 | 6049411 |
| &nbsp;&nbsp;&nbsp;Coterra Energy <sup>(A)</sup> | 41824 | 989556 |
| &nbsp;&nbsp;&nbsp;Devon Energy <sup>(A)</sup> | 33447 | 1086693 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy <sup>(A)</sup> | 11163 | 1598430 |
| &nbsp;&nbsp;&nbsp;EOG Resources <sup>(A)</sup> | 29815 | 3155620 |
| &nbsp;&nbsp;&nbsp;EQT <sup>(A)</sup> | 33050 | 1770819 |
| &nbsp;&nbsp;&nbsp;Expand Energy <sup>(A)</sup> | 12329 | 1273709 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil <sup>(A)</sup> | 232193 | 26553592 |
| &nbsp;&nbsp;&nbsp;Halliburton <sup>(A)</sup> | 44690 | 1199480 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan <sup>(A)</sup> | 106701 | 2794499 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum <sup>(A)</sup> | 16764 | 3267471 |
| &nbsp;&nbsp;&nbsp;Occidental Petroleum <sup>(A)</sup> | 38026 | 1566671 |
| &nbsp;&nbsp;&nbsp;ONEOK <sup>(A)</sup> | 34380 | 2303460 |
| &nbsp;&nbsp;&nbsp;Phillips 66 <sup>(A)</sup> | 22073 | 3005018 |
| &nbsp;&nbsp;&nbsp;SLB LTD <sup>(A)</sup> | 79367 | 2861974 |
| &nbsp;&nbsp;&nbsp;Targa Resources <sup>(A)</sup> | 11760 | 1811511 |
| &nbsp;&nbsp;&nbsp;Texas Pacific Land <sup>(A)</sup> | 1153 | 1087717 |
| &nbsp;&nbsp;&nbsp;Valero Energy <sup>(A)</sup> | 16990 | 2880824 |
| &nbsp;&nbsp;&nbsp;Williams <sup>(A)</sup> | 64975 | 3760103 |
|  |  | 88447024 |
| Financials — 13.3% |  |  |
| &nbsp;&nbsp;&nbsp;Aflac <sup>(A)</sup> | 26351 | 2824564 |
| &nbsp;&nbsp;&nbsp;Allstate <sup>(A)</sup> | 13981 | 2677641 |

---

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

*4*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;American Express <sup>(A)</sup> | 29574 | $10668229 |
| &nbsp;&nbsp;&nbsp;American International Group <sup>(A)</sup> | 29370 | 2319055 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial <sup>(A)</sup> | 5062 | 2291922 |
| &nbsp;&nbsp;&nbsp;Aon PLC, Cl A <sup>(A)</sup> | 11721 | 3993110 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management <sup>(A)</sup> | 24818 | 3085126 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group <sup>(A)</sup> | 19598 | 1691503 |
| &nbsp;&nbsp;&nbsp;Arthur J Gallagher <sup>(A)</sup> | 14037 | 3502091 |
| &nbsp;&nbsp;&nbsp;Assurant <sup>(A)</sup> | 3121 | 660778 |
| &nbsp;&nbsp;&nbsp;Bank of America <sup>(A)</sup> | 371170 | 19839037 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon <sup>(A)</sup> | 37565 | 4054390 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Cl B <sup>\*(A)</sup> | 99861 | 47687622 |
| &nbsp;&nbsp;&nbsp;BlackRock Funding <sup>(A)</sup> | 7847 | 8496810 |
| &nbsp;&nbsp;&nbsp;Blackstone <sup>(A)</sup> | 39394 | 5776736 |
| &nbsp;&nbsp;&nbsp;Block, Cl A <sup>\*(A)</sup> | 29128 | 2211980 |
| &nbsp;&nbsp;&nbsp;Brown & Brown <sup>(A)</sup> | 16024 | 1277754 |
| &nbsp;&nbsp;&nbsp;Capital One Financial <sup>(A)</sup> | 34242 | 7532898 |
| &nbsp;&nbsp;&nbsp;Cboe Global Markets <sup>(A)</sup> | 6137 | 1507493 |
| &nbsp;&nbsp;&nbsp;Charles Schwab <sup>(A)</sup> | 91155 | 8615971 |
| &nbsp;&nbsp;&nbsp;Chubb <sup>(A)</sup> | 19714 | 5459595 |
| &nbsp;&nbsp;&nbsp;Cincinnati Financial <sup>(A)</sup> | 9298 | 1437378 |
| &nbsp;&nbsp;&nbsp;Citigroup <sup>(A)</sup> | 100302 | 10153571 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group <sup>(A)</sup> | 22702 | 1154851 |
| &nbsp;&nbsp;&nbsp;CME Group, Cl A <sup>(A)</sup> | 19789 | 5253782 |
| &nbsp;&nbsp;&nbsp;Coinbase Global, Cl A <sup>\*(A)</sup> | 12334 | 4240183 |
| &nbsp;&nbsp;&nbsp;Corpay <sup>\*(A)</sup> | 4171 | 1085920 |
| &nbsp;&nbsp;&nbsp;Erie Indemnity, Cl A <sup>(A)</sup> | 1516 | 443642 |
| &nbsp;&nbsp;&nbsp;Everest Group <sup>(A)</sup> | 2619 | 823728 |
| &nbsp;&nbsp;&nbsp;FactSet Research Systems <sup>(A)</sup> | 2320 | 618976 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services <sup>(A)</sup> | 28537 | 1784133 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp <sup>(A)</sup> | 34921 | 1453412 |
| &nbsp;&nbsp;&nbsp;Fiserv <sup>\*(A)</sup> | 28918 | 1928541 |
| &nbsp;&nbsp;&nbsp;Franklin Resources <sup>(A)</sup> | 15558 | 351766 |
| &nbsp;&nbsp;&nbsp;Global Payments <sup>(A)</sup> | 12696 | 987241 |
| &nbsp;&nbsp;&nbsp;Globe Life <sup>(A)</sup> | 4844 | 637034 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group <sup>(A)</sup> | 16491 | 13017501 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group <sup>(A)</sup> | 15360 | 1907405 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares <sup>(A)</sup> | 77344 | 1194191 |
| &nbsp;&nbsp;&nbsp;Interactive Brokers Group, Cl A <sup>(A)</sup> | 23915 | 1682659 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange <sup>(A)</sup> | 31209 | 4565565 |

---

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

*5*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Invesco <sup>(A)</sup> | 22967 | $544318 |
| &nbsp;&nbsp;&nbsp;Jack Henry & Associates <sup>(A)</sup> | 4182 | 622867 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase <sup>(A)</sup> | 149749 | 46589909 |
| &nbsp;&nbsp;&nbsp;KeyCorp <sup>(A)</sup> | 48758 | 857653 |
| &nbsp;&nbsp;&nbsp;KKR <sup>(A)</sup> | 37382 | 4423412 |
| &nbsp;&nbsp;&nbsp;Loews <sup>(A)</sup> | 8920 | 888075 |
| &nbsp;&nbsp;&nbsp;M&T Bank <sup>(A)</sup> | 7427 | 1365603 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan <sup>(A)</sup> | 26800 | 4774420 |
| &nbsp;&nbsp;&nbsp;Mastercard, Cl A <sup>(A)</sup> | 44960 | 24817470 |
| &nbsp;&nbsp;&nbsp;MetLife <sup>(A)</sup> | 30376 | 2424612 |
| &nbsp;&nbsp;&nbsp;Moody's <sup>(A)</sup> | 8542 | 4102723 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley <sup>(A)</sup> | 64935 | 10649340 |
| &nbsp;&nbsp;&nbsp;MSCI, Cl A <sup>(A)</sup> | 4225 | 2486624 |
| &nbsp;&nbsp;&nbsp;Nasdaq <sup>(A)</sup> | 24751 | 2115963 |
| &nbsp;&nbsp;&nbsp;Northern Trust <sup>(A)</sup> | 10135 | 1304070 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings <sup>\*(A)</sup> | 50801 | 3518985 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group <sup>(A)</sup> | 21697 | 3960787 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group <sup>(A)</sup> | 10664 | 896203 |
| &nbsp;&nbsp;&nbsp;Progressive <sup>(A)</sup> | 31946 | 6580876 |
| &nbsp;&nbsp;&nbsp;Prudential Financial <sup>(A)</sup> | 19229 | 1999816 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial <sup>(A)</sup> | 9419 | 1494513 |
| &nbsp;&nbsp;&nbsp;Regions Financial <sup>(A)</sup> | 47036 | 1138271 |
| &nbsp;&nbsp;&nbsp;Robinhood Markets, Cl A <sup>\*(A)</sup> | 41358 | 6070527 |
| &nbsp;&nbsp;&nbsp;S&P Global <sup>(A)</sup> | 17028 | 8296212 |
| &nbsp;&nbsp;&nbsp;State Street <sup>(A)</sup> | 15002 | 1735131 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial <sup>(A)</sup> | 19579 | 1456286 |
| &nbsp;&nbsp;&nbsp;T Rowe Price Group <sup>(A)</sup> | 11485 | 1177557 |
| &nbsp;&nbsp;&nbsp;Travelers <sup>(A)</sup> | 12239 | 3287640 |
| &nbsp;&nbsp;&nbsp;Truist Financial <sup>(A)</sup> | 68598 | 3061529 |
| &nbsp;&nbsp;&nbsp;US Bancorp <sup>(A)</sup> | 82909 | 3870192 |
| &nbsp;&nbsp;&nbsp;Visa, Cl A <sup>(A)</sup> | 92513 | 31522880 |
| &nbsp;&nbsp;&nbsp;W R Berkley <sup>(A)</sup> | 16399 | 1169905 |
| &nbsp;&nbsp;&nbsp;Wells Fargo <sup>(A)</sup> | 174505 | 15176700 |
| &nbsp;&nbsp;&nbsp;Willis Towers Watson PLC <sup>(A)</sup> | 5109 | 1599628 |
|  |  | 406876481 |
| Health Care — 9.3% |  |  |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories <sup>(A)</sup> | 93854 | 11602232 |
| &nbsp;&nbsp;&nbsp;AbbVie <sup>(A)</sup> | 96219 | 20979591 |

---

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

*6*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Agilent Technologies <sup>(A)</sup> | 15042 | $2201547 |
| &nbsp;&nbsp;&nbsp;Align Technology <sup>\*(A)</sup> | 4250 | 585990 |
| &nbsp;&nbsp;&nbsp;Amgen <sup>(A)</sup> | 29336 | 8754743 |
| &nbsp;&nbsp;&nbsp;Baxter International <sup>(A)</sup> | 26508 | 489603 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson <sup>(A)</sup> | 15640 | 2795024 |
| &nbsp;&nbsp;&nbsp;Biogen <sup>\*(A)</sup> | 8674 | 1338138 |
| &nbsp;&nbsp;&nbsp;Bio-Techne <sup>(A)</sup> | 9325 | 583465 |
| &nbsp;&nbsp;&nbsp;Boston Scientific \*<sup>(A)</sup> | 80747 | 8132838 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb <sup>(A)</sup> | 108588 | 5002649 |
| &nbsp;&nbsp;&nbsp;Cardinal Health <sup>(A)</sup> | 13043 | 2488213 |
| &nbsp;&nbsp;&nbsp;Cencora <sup>(A)</sup> | 10374 | 3504441 |
| &nbsp;&nbsp;&nbsp;Centene <sup>\*(A)</sup> | 24356 | 861472 |
| &nbsp;&nbsp;&nbsp;Charles River Laboratories International <sup>\*(A)</sup> | 3099 | 558037 |
| &nbsp;&nbsp;&nbsp;Cigna Group <sup>(A)</sup> | 14667 | 3584761 |
| &nbsp;&nbsp;&nbsp;Cooper <sup>\*(A)</sup> | 10436 | 729581 |
| &nbsp;&nbsp;&nbsp;CVS Health <sup>(A)</sup> | 69136 | 5402978 |
| &nbsp;&nbsp;&nbsp;Danaher <sup>(A)</sup> | 34104 | 7345320 |
| &nbsp;&nbsp;&nbsp;DaVita <sup>\*(A)</sup> | 2661 | 316712 |
| &nbsp;&nbsp;&nbsp;Dexcom <sup>\*(A)</sup> | 20646 | 1202010 |
| &nbsp;&nbsp;&nbsp;Edwards Lifesciences <sup>\*(A)</sup> | 32050 | 2642523 |
| &nbsp;&nbsp;&nbsp;Elevance Health <sup>(A)</sup> | 12226 | 3878087 |
| &nbsp;&nbsp;&nbsp;Eli Lilly <sup>(A)</sup> | 43299 | 37360975 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies <sup>(A)</sup> | 24202 | 1813940 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences <sup>(A)</sup> | 67614 | 8099481 |
| &nbsp;&nbsp;&nbsp;HCA Healthcare <sup>(A)</sup> | 8746 | 4020361 |
| &nbsp;&nbsp;&nbsp;Henry Schein <sup>\*(A)</sup> | 5161 | 326175 |
| &nbsp;&nbsp;&nbsp;Hologic <sup>\*(A)</sup> | 11510 | 850704 |
| &nbsp;&nbsp;&nbsp;Humana <sup>(A)</sup> | 6328 | 1760386 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories <sup>\*(A)</sup> | 4179 | 2630722 |
| &nbsp;&nbsp;&nbsp;Incyte <sup>\*(A)</sup> | 9501 | 888154 |
| &nbsp;&nbsp;&nbsp;Insulet <sup>\*(A)</sup> | 4196 | 1313390 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical <sup>\*(A)</sup> | 19535 | 10437160 |
| &nbsp;&nbsp;&nbsp;IQVIA Holdings <sup>\*(A)</sup> | 9286 | 2010048 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson <sup>(A)</sup> | 131168 | 24773700 |
| &nbsp;&nbsp;&nbsp;Labcorp Holdings <sup>(A)</sup> | 4833 | 1227389 |
| &nbsp;&nbsp;&nbsp;McKesson <sup>(A)</sup> | 6608 | 5361335 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC <sup>(A)</sup> | 68396 | 6203517 |
| &nbsp;&nbsp;&nbsp;Merck <sup>(A)</sup> | 136081 | 11700244 |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International <sup>\*(A)</sup> | 1112 | 1574914 |

---

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

*7*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Moderna <sup>\*(A)</sup> | 19092 | $518539 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare <sup>\*(A)</sup> | 3387 | 518414 |
| &nbsp;&nbsp;&nbsp;Pfizer (A) | 309836 | 7637457 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics <sup>(A)</sup> | 6515 | 1146314 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals <sup>(A)</sup> | 5570 | 3630526 |
| &nbsp;&nbsp;&nbsp;ResMed <sup>(A)</sup> | 7996 | 1974052 |
| &nbsp;&nbsp;&nbsp;Revvity <sup>(A)</sup> | 7148 | 668981 |
| &nbsp;&nbsp;&nbsp;Solventum <sup>\*(A)</sup> | 8146 | 562400 |
| &nbsp;&nbsp;&nbsp;STERIS PLC <sup>(A)</sup> | 5745 | 1354097 |
| &nbsp;&nbsp;&nbsp;Stryker <sup>(A)</sup> | 18441 | 6569422 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific <sup>(A)</sup> | 20574 | 11673482 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group <sup>(A)</sup> | 49331 | 16849496 |
| &nbsp;&nbsp;&nbsp;Universal Health Services, Cl B <sup>(A)</sup> | 3576 | 776028 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals <sup>\*(A)</sup> | 13641 | 5805200 |
| &nbsp;&nbsp;&nbsp;Viatris <sup>(A)</sup> | 60386 | 625599 |
| &nbsp;&nbsp;&nbsp;Waters <sup>\*(A)</sup> | 3627 | 1267999 |
| &nbsp;&nbsp;&nbsp;West Pharmaceutical Services <sup>(A)</sup> | 4154 | 1171719 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings <sup>(A)</sup> | 10846 | 1090674 |
| &nbsp;&nbsp;&nbsp;Zoetis, Cl A <sup>(A)</sup> | 24428 | 3519831 |
|  |  | 284692780 |
| Industrials — 8.5% |  |  |
| &nbsp;&nbsp;&nbsp;3M <sup>(A)</sup> | 28347 | 4719775 |
| &nbsp;&nbsp;&nbsp;A O Smith <sup>(A)</sup> | 6905 | 455661 |
| &nbsp;&nbsp;&nbsp;Allegion PLC <sup>(A)</sup> | 5036 | 834818 |
| &nbsp;&nbsp;&nbsp;AMETEK <sup>(A)</sup> | 12610 | 2548607 |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing <sup>(A)</sup> | 21592 | 5620398 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise <sup>\*(A)</sup> | 4285 | 3137606 |
| &nbsp;&nbsp;&nbsp;Boeing <sup>\*(A)</sup> | 41201 | 8282225 |
| &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions <sup>(A)</sup> | 6153 | 1356121 |
| &nbsp;&nbsp;&nbsp;Builders FirstSource <sup>\*(A)</sup> | 6749 | 784031 |
| &nbsp;&nbsp;&nbsp;Carrier Global <sup>(A)</sup> | 43434 | 2583889 |
| &nbsp;&nbsp;&nbsp;Caterpillar <sup>(A)</sup> | 25520 | 14731675 |
| &nbsp;&nbsp;&nbsp;CH Robinson Worldwide <sup>(A)</sup> | 6969 | 1073156 |
| &nbsp;&nbsp;&nbsp;Cintas <sup>(A)</sup> | 18920 | 3467468 |
| &nbsp;&nbsp;&nbsp;Copart <sup>\*(A)</sup> | 48577 | 2089297 |
| &nbsp;&nbsp;&nbsp;CSX <sup>(A)</sup> | 101677 | 3662405 |
| &nbsp;&nbsp;&nbsp;Cummins <sup>(A)</sup> | 7518 | 3290478 |
| &nbsp;&nbsp;&nbsp;Dayforce <sup>\*(A)</sup> | 9404 | 646431 |

---

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

*8*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Deere <sup>(A)</sup> | 13407 | $6189073 |
| &nbsp;&nbsp;&nbsp;Delta Air Lines <sup>(A)</sup> | 34301 | 1968191 |
| &nbsp;&nbsp;&nbsp;Dover <sup>(A)</sup> | 8127 | 1474725 |
| &nbsp;&nbsp;&nbsp;Eaton PLC <sup>(A)</sup> | 21215 | 8094795 |
| &nbsp;&nbsp;&nbsp;EMCOR Group <sup>(A)</sup> | 2414 | 1631333 |
| &nbsp;&nbsp;&nbsp;Emerson Electric <sup>(A)</sup> | 30974 | 4323041 |
| &nbsp;&nbsp;&nbsp;Equifax <sup>(A)</sup> | 6524 | 1377216 |
| &nbsp;&nbsp;&nbsp;Expeditors International of Washington <sup>(A)</sup> | 8277 | 1008966 |
| &nbsp;&nbsp;&nbsp;Fastenal <sup>(A)</sup> | 62357 | 2565991 |
| &nbsp;&nbsp;&nbsp;FedEx <sup>(A)</sup> | 11801 | 2995330 |
| &nbsp;&nbsp;&nbsp;Fortive <sup>(A)</sup> | 17734 | 892730 |
| &nbsp;&nbsp;&nbsp;GE Aerospace <sup>(A)</sup> | 57764 | 17846188 |
| &nbsp;&nbsp;&nbsp;GE Vernova <sup>(A)</sup> | 14833 | 8679382 |
| &nbsp;&nbsp;&nbsp;Generac Holdings <sup>\*(A)</sup> | 3615 | 607392 |
| &nbsp;&nbsp;&nbsp;General Dynamics <sup>(A)</sup> | 13778 | 4752032 |
| &nbsp;&nbsp;&nbsp;Honeywell International <sup>(A)</sup> | 33981 | 6841395 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace <sup>(A)</sup> | 22156 | 4563028 |
| &nbsp;&nbsp;&nbsp;Hubbell, Cl B <sup>(A)</sup> | 2859 | 1343730 |
| &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries <sup>(A)</sup> | 2377 | 765441 |
| &nbsp;&nbsp;&nbsp;IDEX <sup>(A)</sup> | 4353 | 746365 |
| &nbsp;&nbsp;&nbsp;Illinois Tool Works <sup>(A)</sup> | 14574 | 3554890 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand <sup>(A)</sup> | 19775 | 1509426 |
| &nbsp;&nbsp;&nbsp;Jacobs Solutions <sup>(A)</sup> | 7211 | 1123546 |
| &nbsp;&nbsp;&nbsp;JB Hunt Transport Services <sup>(A)</sup> | 4572 | 772028 |
| &nbsp;&nbsp;&nbsp;Johnson Controls International <sup>(A)</sup> | 36009 | 4119069 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies <sup>(A)</sup> | 10236 | 2959228 |
| &nbsp;&nbsp;&nbsp;Leidos Holdings <sup>(A)</sup> | 6738 | 1283387 |
| &nbsp;&nbsp;&nbsp;Lennox International <sup>(A)</sup> | 1957 | 988285 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin <sup>(A)</sup> | 11198 | 5508072 |
| &nbsp;&nbsp;&nbsp;Masco <sup>(A)</sup> | 11005 | 712684 |
| &nbsp;&nbsp;&nbsp;Nordson <sup>(A)</sup> | 3302 | 765899 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern <sup>(A)</sup> | 12186 | 3453269 |
| &nbsp;&nbsp;&nbsp;Northrop Grumman <sup>(A)</sup> | 7408 | 4322198 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line <sup>(A)</sup> | 9800 | 1376116 |
| &nbsp;&nbsp;&nbsp;Otis Worldwide <sup>(A)</sup> | 20736 | 1923471 |
| &nbsp;&nbsp;&nbsp;PACCAR <sup>(A)</sup> | 28659 | 2820046 |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin (A) | 7026 | 5429904 |
| &nbsp;&nbsp;&nbsp;Paychex <sup>(A)</sup> | 17702 | 2071665 |
| &nbsp;&nbsp;&nbsp;Paycom Software <sup>(A)</sup> | 2870 | 536948 |

---

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

*9*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Pentair PLC <sup>(A)</sup> | 9828 | $1045208 |
| &nbsp;&nbsp;&nbsp;Quanta Services <sup>(A)</sup> | 8106 | 3640648 |
| &nbsp;&nbsp;&nbsp;Republic Services, Cl A <sup>(A)</sup> | 11077 | 2306674 |
| &nbsp;&nbsp;&nbsp;Rockwell Automation <sup>(A)</sup> | 6141 | 2262099 |
| &nbsp;&nbsp;&nbsp;Rollins <sup>(A)</sup> | 15416 | 888116 |
| &nbsp;&nbsp;&nbsp;RTX <sup>(A)</sup> | 72926 | 13017291 |
| &nbsp;&nbsp;&nbsp;Snap-On <sup>(A)</sup> | 3201 | 1074096 |
| &nbsp;&nbsp;&nbsp;Southwest Airlines <sup>(A)</sup> | 27410 | 830523 |
| &nbsp;&nbsp;&nbsp;Stanley Black & Decker <sup>(A)</sup> | 9123 | 617810 |
| &nbsp;&nbsp;&nbsp;Textron <sup>(A)</sup> | 9778 | 790160 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC <sup>(A)</sup> | 12202 | 5474427 |
| &nbsp;&nbsp;&nbsp;TransDigm Group <sup>(A)</sup> | 3067 | 4013200 |
| &nbsp;&nbsp;&nbsp;Uber Technologies <sup>\*(A)</sup> | 113621 | 10964426 |
| &nbsp;&nbsp;&nbsp;Union Pacific <sup>(A)</sup> | 32318 | 7121918 |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings <sup>\*(A)</sup> | 17689 | 1663474 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Cl B <sup>(A)</sup> | 40359 | 3891415 |
| &nbsp;&nbsp;&nbsp;United Rentals <sup>(A)</sup> | 3683 | 3208556 |
| &nbsp;&nbsp;&nbsp;Veralto <sup>(A)</sup> | 13047 | 1287478 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Cl A <sup>(A)</sup> | 7634 | 1670014 |
| &nbsp;&nbsp;&nbsp;Wabtec <sup>(A)</sup> | 9340 | 1909470 |
| &nbsp;&nbsp;&nbsp;Waste Management <sup>(A)</sup> | 20209 | 4037152 |
| &nbsp;&nbsp;&nbsp;WW Grainger <sup>(A)</sup> | 2473 | 2421067 |
| &nbsp;&nbsp;&nbsp;Xylem <sup>(A)</sup> | 13297 | 2005852 |
|  |  | 259321590 |
| Information Technology — 37.3% |  |  |
| &nbsp;&nbsp;&nbsp;Accenture PLC, Cl A <sup>(A)</sup> | 33330 | 8335833 |
| &nbsp;&nbsp;&nbsp;Adobe <sup>\*(A)</sup> | 22657 | 7710404 |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices <sup>\*(A)</sup> | 87912 | 22516021 |
| &nbsp;&nbsp;&nbsp;Akamai Technologies <sup>\*(A)</sup> | 8888 | 667489 |
| &nbsp;&nbsp;&nbsp;Amphenol, Cl A <sup>(A)</sup> | 66531 | 9270430 |
| &nbsp;&nbsp;&nbsp;Analog Devices <sup>(A)</sup> | 26575 | 6222005 |
| &nbsp;&nbsp;&nbsp;Apple <sup>(A)</sup> | 808103 | 218486808 |
| &nbsp;&nbsp;&nbsp;Applied Materials <sup>(A)</sup> | 43725 | 10192298 |
| &nbsp;&nbsp;&nbsp;AppLovin, Cl A <sup>\*(A)</sup> | 14752 | 9401892 |
| &nbsp;&nbsp;&nbsp;Arista Networks <sup>\*(A)</sup> | 56161 | 8856028 |
| &nbsp;&nbsp;&nbsp;Autodesk <sup>\*(A)</sup> | 11710 | 3528691 |
| &nbsp;&nbsp;&nbsp;Broadcom <sup>(A)</sup> | 256126 | 94671853 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems <sup>\*(A)</sup> | 14521 | 4918118 |

---

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

*10*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;CDW <sup>(A)</sup> | 7885 | $1256632 |
| &nbsp;&nbsp;&nbsp;Cisco Systems <sup>(A)</sup> | 215713 | 15770777 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions, Cl A <sup>(A)</sup> | 25908 | 1888175 |
| &nbsp;&nbsp;&nbsp;Corning <sup>(A)</sup> | 42520 | 3787682 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Cl A <sup>\*(A)</sup> | 13266 | 7203571 |
| &nbsp;&nbsp;&nbsp;Datadog, Cl A <sup>\*(A)</sup> | 18190 | 2961514 |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Cl C <sup>(A)</sup> | 16098 | 2608037 |
| &nbsp;&nbsp;&nbsp;EPAM Systems <sup>\*(A)</sup> | 3452 | 564540 |
| &nbsp;&nbsp;&nbsp;F5 <sup>\*(A)</sup> | 3521 | 890989 |
| &nbsp;&nbsp;&nbsp;Fair Isaac <sup>\*(A)</sup> | 1301 | 2159049 |
| &nbsp;&nbsp;&nbsp;First Solar <sup>\*(A)</sup> | 6277 | 1675582 |
| &nbsp;&nbsp;&nbsp;Fortinet <sup>\*(A)</sup> | 34642 | 2994108 |
| &nbsp;&nbsp;&nbsp;Gartner <sup>\*(A)</sup> | 4439 | 1102381 |
| &nbsp;&nbsp;&nbsp;Gen Digital <sup>(A)</sup> | 29296 | 772243 |
| &nbsp;&nbsp;&nbsp;GoDaddy, Cl A <sup>\*(A)</sup> | 8373 | 1114698 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise <sup>(A)</sup> | 69458 | 1696164 |
| &nbsp;&nbsp;&nbsp;HP <sup>(A)</sup> | 49472 | 1368890 |
| &nbsp;&nbsp;&nbsp;Intel <sup>\*(A)</sup> | 233654 | 9343823 |
| &nbsp;&nbsp;&nbsp;International Business Machines <sup>(A)</sup> | 50745 | 15599520 |
| &nbsp;&nbsp;&nbsp;Intuit <sup>(A)</sup> | 15198 | 10145425 |
| &nbsp;&nbsp;&nbsp;Jabil <sup>(A)</sup> | 5611 | 1239414 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies <sup>\*(A)</sup> | 9134 | 1671157 |
| &nbsp;&nbsp;&nbsp;KLA <sup>(A)</sup> | 7034 | 8502277 |
| &nbsp;&nbsp;&nbsp;Lam Research <sup>(A)</sup> | 67596 | 10643666 |
| &nbsp;&nbsp;&nbsp;Microchip Technology <sup>(A)</sup> | 28538 | 1781342 |
| &nbsp;&nbsp;&nbsp;Micron Technology <sup>(A)</sup> | 60968 | 13642809 |
| &nbsp;&nbsp;&nbsp;Microsoft <sup>(A)</sup> | 404757 | 209587222 |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems <sup>(A)</sup> | 2613 | 2626065 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions <sup>(A)</sup> | 9220 | 3749866 |
| &nbsp;&nbsp;&nbsp;NetApp <sup>(A)</sup> | 10612 | 1249881 |
| &nbsp;&nbsp;&nbsp;NVIDIA <sup>(A)</sup> | 1328641 | 269036516 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor <sup>\*(A)</sup> | 21456 | 1074516 |
| &nbsp;&nbsp;&nbsp;Oracle <sup>(A)</sup> | 90259 | 23702916 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Cl A <sup>\*(A)</sup> | 123870 | 24832219 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks <sup>\*(A)</sup> | 35619 | 7844729 |
| &nbsp;&nbsp;&nbsp;PTC <sup>\*(A)</sup> | 7086 | 1406854 |
| &nbsp;&nbsp;&nbsp;QUALCOMM <sup>(A)</sup> | 57565 | 10413509 |
| &nbsp;&nbsp;&nbsp;Roper Technologies <sup>(A)</sup> | 5785 | 2580978 |
| &nbsp;&nbsp;&nbsp;Salesforce <sup>(A)</sup> | 51724 | 13469447 |

---

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

*11*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;Seagate Technology Holdings <sup>(A)</sup> | 11379 | $2911659 |
| &nbsp;&nbsp;&nbsp;ServiceNow <sup>\*(A)</sup> | 11195 | 10291340 |
| &nbsp;&nbsp;&nbsp;Skyworks Solutions <sup>(A)</sup> | 7695 | 598055 |
| &nbsp;&nbsp;&nbsp;Super Micro Computer <sup>\*(A)</sup> | 26300 | 1366548 |
| &nbsp;&nbsp;&nbsp;Synopsys <sup>\*(A)</sup> | 9915 | 4499625 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies <sup>\*(A)</sup> | 2527 | 1331274 |
| &nbsp;&nbsp;&nbsp;Teradyne <sup>(A)</sup> | 9661 | 1755983 |
| &nbsp;&nbsp;&nbsp;Texas Instruments <sup>(A)</sup> | 48636 | 7852769 |
| &nbsp;&nbsp;&nbsp;Trimble <sup>\*(A)</sup> | 13038 | 1039781 |
| &nbsp;&nbsp;&nbsp;Tyler Technologies <sup>\*(A)</sup> | 2615 | 1245420 |
| &nbsp;&nbsp;&nbsp;VeriSign <sup>(A)</sup> | 4710 | 1129458 |
| &nbsp;&nbsp;&nbsp;Western Digital <sup>(A)</sup> | 18938 | 2844677 |
| &nbsp;&nbsp;&nbsp;Workday, Cl A <sup>\*(A)</sup> | 11789 | 2828417 |
| &nbsp;&nbsp;&nbsp;Zebra Technologies, Cl A <sup>\*(A)</sup> | 3132 | 843291 |
|  |  | 1139275350 |
| Materials — 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;Air Products & Chemicals <sup>(A)</sup> | 12043 | 2921511 |
| &nbsp;&nbsp;&nbsp;Albemarle <sup>(A)</sup> | 6859 | 673760 |
| &nbsp;&nbsp;&nbsp;Amcor PLC <sup>(A)</sup> | 120882 | 954968 |
| &nbsp;&nbsp;&nbsp;Avery Dennison <sup>(A)</sup> | 4636 | 810790 |
| &nbsp;&nbsp;&nbsp;Ball <sup>(A)</sup> | 14118 | 663546 |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings <sup>(A)</sup> | 8445 | 703384 |
| &nbsp;&nbsp;&nbsp;Corteva <sup>(A)</sup> | 36917 | 2268180 |
| &nbsp;&nbsp;&nbsp;Dow <sup>(A)</sup> | 38879 | 927264 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours <sup>(A)</sup> | 22137 | 1807486 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical <sup>(A)</sup> | 6738 | 401046 |
| &nbsp;&nbsp;&nbsp;Ecolab <sup>(A)</sup> | 13754 | 3526526 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan <sup>(A)</sup> | 76435 | 3187339 |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances <sup>(A)</sup> | 13349 | 840587 |
| &nbsp;&nbsp;&nbsp;International Paper <sup>(A)</sup> | 27759 | 1072608 |
| &nbsp;&nbsp;&nbsp;Linde PLC <sup>(A)</sup> | 25462 | 10650755 |
| &nbsp;&nbsp;&nbsp;LyondellBasell Industries, Cl A <sup>(A)</sup> | 13330 | 618779 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials <sup>(A)</sup> | 2971 | 1821520 |
| &nbsp;&nbsp;&nbsp;Mosaic <sup>(A)</sup> | 16419 | 450702 |
| &nbsp;&nbsp;&nbsp;Newmont <sup>(A)</sup> | 59880 | 4848484 |
| &nbsp;&nbsp;&nbsp;Nucor <sup>(A)</sup> | 12546 | 1882527 |
| &nbsp;&nbsp;&nbsp;Packaging Corp of America <sup>(A)</sup> | 5180 | 1014037 |
| &nbsp;&nbsp;&nbsp;PPG Industries <sup>(A)</sup> | 11820 | 1155405 |

---

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

*12*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Materials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams <sup>(A)</sup> | 12563 | $4333481 |
| &nbsp;&nbsp;&nbsp;Smurfit WestRock PLC <sup>(A)</sup> | 27409 | 1011940 |
| &nbsp;&nbsp;&nbsp;Solstice Advanced Materials <sup>\*</sup> | 8495 | 382881 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics <sup>(A)</sup> | 8383 | 1314454 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials <sup>(A)</sup> | 7215 | 2088742 |
|  |  | 52332702 |
| Real Estate — 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities <sup>‡(A)</sup> | 9109 | 530326 |
| &nbsp;&nbsp;&nbsp;American Tower <sup>‡(A)</sup> | 25014 | 4477006 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities <sup>‡(A)</sup> | 7505 | 1305270 |
| &nbsp;&nbsp;&nbsp;BXP <sup>‡(A)</sup> | 8587 | 611308 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust <sup>‡(A)</sup> | 6240 | 620755 |
| &nbsp;&nbsp;&nbsp;CBRE Group, Cl A <sup>\*(A)</sup> | 15999 | 2438728 |
| &nbsp;&nbsp;&nbsp;CoStar Group <sup>\*(A)</sup> | 22438 | 1543959 |
| &nbsp;&nbsp;&nbsp;Crown Castle <sup>‡(A)</sup> | 23775 | 2144980 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust <sup>‡(A)</sup> | 17319 | 2951331 |
| &nbsp;&nbsp;&nbsp;Equinix <sup>‡(A)</sup> | 5277 | 4464395 |
| &nbsp;&nbsp;&nbsp;Equity Residential <sup>‡(A)</sup> | 18355 | 1091021 |
| &nbsp;&nbsp;&nbsp;Essex Property Trust <sup>‡(A)</sup> | 3923 | 987694 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage <sup>‡(A)</sup> | 11300 | 1509002 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust <sup>‡(A)</sup> | 4412 | 424390 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties <sup>‡(A)</sup> | 36029 | 646721 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts <sup>‡(A)</sup> | 33129 | 530727 |
| &nbsp;&nbsp;&nbsp;Invitation Homes <sup>‡(A)</sup> | 30926 | 870567 |
| &nbsp;&nbsp;&nbsp;Iron Mountain <sup>‡(A)</sup> | 15616 | 1607667 |
| &nbsp;&nbsp;&nbsp;Kimco Realty <sup>‡(A)</sup> | 35280 | 728885 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartment Communities <sup>‡(A)</sup> | 6874 | 881453 |
| &nbsp;&nbsp;&nbsp;ProLogis <sup>‡(A)</sup> | 49606 | 6155609 |
| &nbsp;&nbsp;&nbsp;Public Storage <sup>‡(A)</sup> | 8618 | 2400630 |
| &nbsp;&nbsp;&nbsp;Realty Income <sup>‡(A)</sup> | 48678 | 2822350 |
| &nbsp;&nbsp;&nbsp;Regency Centers <sup>‡(A)</sup> | 9683 | 667643 |
| &nbsp;&nbsp;&nbsp;SBA Communications, Cl A <sup>‡(A)</sup> | 6313 | 1208813 |
| &nbsp;&nbsp;&nbsp;Simon Property Group <sup>‡(A)</sup> | 17811 | 3130461 |
| &nbsp;&nbsp;&nbsp;UDR <sup>‡(A)</sup> | 16589 | 558883 |
| &nbsp;&nbsp;&nbsp;Ventas <sup>‡(A)</sup> | 24054 | 1774945 |
| &nbsp;&nbsp;&nbsp;VICI Properties, Cl A <sup>‡(A)</sup> | 58266 | 1747397 |
| &nbsp;&nbsp;&nbsp;Welltower <sup>‡(A)</sup> | 36454 | 6599632 |

---

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

*13*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** | | |
| Real Estate — continued |  |  |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser <sup>‡(A)</sup> | 37753 | $868319 |
|  |  | 58300867 |
| Utilities — 2.4% |  |  |
| &nbsp;&nbsp;&nbsp;AES <sup>(A)</sup> | 39193 | 543607 |
| &nbsp;&nbsp;&nbsp;Alliant Energy <sup>(A)</sup> | 13391 | 894787 |
| &nbsp;&nbsp;&nbsp;Ameren <sup>(A)</sup> | 14247 | 1453479 |
| &nbsp;&nbsp;&nbsp;American Electric Power <sup>(A)</sup> | 29045 | 3492952 |
| &nbsp;&nbsp;&nbsp;American Water Works <sup>(A)</sup> | 10350 | 1329250 |
| &nbsp;&nbsp;&nbsp;Atmos Energy <sup>(A)</sup> | 9442 | 1621380 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy <sup>(A)</sup> | 35706 | 1365397 |
| &nbsp;&nbsp;&nbsp;CMS Energy <sup>(A)</sup> | 15743 | 1157898 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison <sup>(A)</sup> | 20419 | 1989015 |
| &nbsp;&nbsp;&nbsp;Constellation Energy <sup>(A)</sup> | 16701 | 6296277 |
| &nbsp;&nbsp;&nbsp;Dominion Energy <sup>(A)</sup> | 46572 | 2733311 |
| &nbsp;&nbsp;&nbsp;DTE Energy <sup>(A)</sup> | 11036 | 1495819 |
| &nbsp;&nbsp;&nbsp;Duke Energy <sup>(A)</sup> | 42944 | 5337939 |
| &nbsp;&nbsp;&nbsp;Edison International <sup>(A)</sup> | 20173 | 1117181 |
| &nbsp;&nbsp;&nbsp;Entergy <sup>(A)</sup> | 23689 | 2276276 |
| &nbsp;&nbsp;&nbsp;Evergy <sup>(A)</sup> | 11964 | 918955 |
| &nbsp;&nbsp;&nbsp;Eversource Energy <sup>(A)</sup> | 19487 | 1438335 |
| &nbsp;&nbsp;&nbsp;Exelon <sup>(A)</sup> | 53611 | 2472539 |
| &nbsp;&nbsp;&nbsp;FirstEnergy <sup>(A)</sup> | 27271 | 1249830 |
| &nbsp;&nbsp;&nbsp;NextEra Energy <sup>(A)</sup> | 110070 | 8959698 |
| &nbsp;&nbsp;&nbsp;NiSource <sup>(A)</sup> | 25780 | 1085596 |
| &nbsp;&nbsp;&nbsp;NRG Energy <sup>(A)</sup> | 10425 | 1791640 |
| &nbsp;&nbsp;&nbsp;PG&E <sup>(A)</sup> | 120049 | 1915982 |
| &nbsp;&nbsp;&nbsp;Pinnacle West Capital <sup>(A)</sup> | 6656 | 589189 |
| &nbsp;&nbsp;&nbsp;PPL <sup>(A)</sup> | 39034 | 1425522 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group <sup>(A)</sup> | 27250 | 2195260 |
| &nbsp;&nbsp;&nbsp;Sempra <sup>(A)</sup> | 34615 | 3182503 |
| &nbsp;&nbsp;&nbsp;Southern <sup>(A)</sup> | 58638 | 5514318 |
| &nbsp;&nbsp;&nbsp;Vistra <sup>(A)</sup> | 16993 | 3199782 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group <sup>(A)</sup> | 17089 | 1909354 |
| &nbsp;&nbsp;&nbsp;Xcel Energy <sup>(A)</sup> | 32279 | 2620086 |
|  |  | 73573157 |
| TOTAL UNITED STATES |  | 3165597274 |
| TOTAL COMMON STOCK <br> (Cost $1,959,507,829) |  | 3172453065 |

---

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

*14*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **EXCHANGE-TRADED FUND — 0.1%** | | |
| **Domestic Equity — 0.1%** | | |
| &nbsp;&nbsp;&nbsp;Global X U.S. 500 ETF <sup>\*(A)(B)</sup> | 40000 | $3295964 |
| TOTAL EXCHANGE-TRADED FUND <br> (Cost $3,178,873) |  | 3295964 |
| TOTAL INVESTMENTS — 103.9% <br> (Cost $1,962,686,702) |  | $3175749029 |
| **WRITTEN OPTIONS— (4.0)%** |  |  |
| &nbsp;&nbsp;&nbsp;(Premiums Received $(80410311)) |  | $(123527015) |

---

*Percentages are based on Net Assets of $3,056,888,948.*

*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** |
| **WRITTEN OPTIONS — (4.0)%** |  |  |  |  |  |
| **Call Options** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;S&P 500 Index | (4643) | $(3175904860) | $6620.00 | 11/21/2025 | $(123527015) |

---

---

| | |
|:---|:---|
| *\** | *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 $3,175,366,148.* |
| *(B)* | *Affiliated investment.* |

---

*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* | $*3172453065* | $*—* | $*—* | $*3172453065* |
| &nbsp;&nbsp;&nbsp;*Exchange-Traded Fund* | *3295964* | *—* | *—* | *3295964* |
| *Total Investments in Securities* | $*3175749029* | $*—* | $*—* | $*3175749029* |
| *Other Financial Instruments* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Written Options* | $*(123527015)* | $*—* | $*—* | $*(123527015)* |
| *Total Other Financial Instruments* | $*(123527015)* | $*—* | $*—* | $*(123527015)* |

---

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

*15*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** |

---

*The following is a summary of the Fund's transactions with affiliates for the year ended October 31, 2025:*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Value<br> 10/31/2024 | Purchases<br> at Cost | Proceeds<br> from Sales | Change in<br> Unrealized<br> Appreciation<br> (Depreciation) | Realized Gain<br> (Loss) | Value<br> 10/31/2025 | Income | Capital Gains |
| **Global X U.S. 500 ETF** | **Global X U.S. 500 ETF** | **Global X U.S. 500 ETF** |  |  |  |  |  |
| $— | $3178873 | $— | $117091 | $— | $3295964 | $— | $— |

---

*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 NASDAQ 100<sup>®</sup> Covered Call ETF** | **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 105.8%** |  |  |
| **BRAZIL — 0.6%** |  |  |
| Consumer Discretionary — 0.6% |  |  |
| &nbsp;&nbsp;&nbsp;MercadoLibre <sup>\*(A)</sup> | 22524 | $52419204 |
| **CANADA — 1.5%** |  |  |
| Industrials — 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;Thomson Reuters <sup>(A)</sup> | 197976 | 30302207 |
| Information Technology — 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;Shopify, Cl A <sup>\*(A)</sup> | 535440 | 93091598 |
| TOTAL CANADA |  | 123393805 |
| **CHINA — 0.5%** |  |  |
| Consumer Discretionary — 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;PDD Holdings ADR <sup>\*(A)</sup> | 287427 | 38765280 |
| **NETHERLANDS — 0.8%** |  |  |
| Information Technology — 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;ASML Holding <sup>(A)</sup> | 36453 | 38612111 |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors <sup>(A)</sup> | 110882 | 23187644 |
| TOTAL NETHERLANDS |  | 61799755 |
| **UNITED KINGDOM — 0.6%** |  |  |
| Consumer Staples — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Coca-Cola Europacific Partners PLC <sup>(A)</sup> | 201314 | 17882723 |
| Health Care — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC ADR <sup>(A)</sup> | 252091 | 20772298 |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;ARM Holdings PLC ADR <sup>\*(A)</sup> | 58163 | 9877241 |
| TOTAL UNITED KINGDOM |  | 48532262 |
| **UNITED STATES — 101.8%** |  |  |
| Communication Services — 15.6% |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl A <sup>(A)</sup> | 1038043 | 291887311 |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl C <sup>(A)</sup> | 968721 | 273004952 |
| &nbsp;&nbsp;&nbsp;Charter Communications, Cl A <sup>\*(A)</sup> | 60121 | 14058695 |

---

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

*17*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** | **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Communication Services — continued |  |  |
| &nbsp;&nbsp;&nbsp;Comcast, Cl A <sup>(A)</sup> | 1616440 | $44993607 |
| &nbsp;&nbsp;&nbsp;Electronic Arts <sup>(A)</sup> | 110035 | 22013602 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A <sup>(A)</sup> | 387166 | 251019076 |
| &nbsp;&nbsp;&nbsp;Netflix \*<sup>(A)</sup> | 186531 | 208702075 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software <sup>\*(A)</sup> | 80828 | 20721874 |
| &nbsp;&nbsp;&nbsp;T-Mobile US <sup>(A)</sup> | 493797 | 103722060 |
| &nbsp;&nbsp;&nbsp;Trade Desk, Cl A <sup>\*(A)</sup> | 187859 | 9445551 |
| &nbsp;&nbsp;&nbsp;Warner Bros Discovery <sup>\*(A)</sup> | 1086966 | 24402387 |
|  |  | 1263971190 |
| Consumer Discretionary — 12.8% |  |  |
| &nbsp;&nbsp;&nbsp;Airbnb, Cl A <sup>\*(A)</sup> | 188376 | 23837099 |
| &nbsp;&nbsp;&nbsp;Amazon.com <sup>\*(A)</sup> | 1902777 | 464696199 |
| &nbsp;&nbsp;&nbsp;Booking Holdings <sup>(A)</sup> | 14399 | 73114378 |
| &nbsp;&nbsp;&nbsp;DoorDash, Cl A <sup>\*(A)</sup> | 176505 | 44897577 |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica <sup>\*(A)</sup> | 48131 | 8208261 |
| &nbsp;&nbsp;&nbsp;Marriott International, Cl A <sup>(A)</sup> | 118911 | 30985828 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive <sup>\*(A)</sup> | 372459 | 35175028 |
| &nbsp;&nbsp;&nbsp;Ross Stores <sup>(A)</sup> | 143619 | 22823932 |
| &nbsp;&nbsp;&nbsp;Starbucks <sup>(A)</sup> | 498810 | 40338765 |
| &nbsp;&nbsp;&nbsp;Tesla <sup>\*(A)</sup> | 650283 | 296893206 |
|  |  | 1040970273 |
| Consumer Staples — 4.4% |  |  |
| &nbsp;&nbsp;&nbsp;Costco Wholesale <sup>(A)</sup> | 194772 | 177524939 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper <sup>(A)</sup> | 596195 | 16192656 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz <sup>(A)</sup> | 519646 | 12850846 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Cl A <sup>(A)</sup> | 568107 | 32643428 |
| &nbsp;&nbsp;&nbsp;Monster Beverage <sup>\*(A)</sup> | 428732 | 28652160 |
| &nbsp;&nbsp;&nbsp;PepsiCo <sup>(A)</sup> | 600922 | 87788695 |
|  |  | 355652724 |
| Energy — 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;Baker Hughes, Cl A <sup>(A)</sup> | 432931 | 20958190 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy <sup>(A)</sup> | 126921 | 18173818 |
|  |  | 39132008 |
| Financials — 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;PayPal Holdings <sup>\*(A)</sup> | 419380 | 29050452 |

---

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

*18*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** | **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — 4.4% |  |  |
| &nbsp;&nbsp;&nbsp;Amgen <sup>(A)</sup> | 236364 | $70538108 |
| &nbsp;&nbsp;&nbsp;Biogen <sup>\*(A)</sup> | 62102 | 9580475 |
| &nbsp;&nbsp;&nbsp;Dexcom <sup>\*(A)</sup> | 171971 | 10012152 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies <sup>(A)</sup> | 200586 | 15033921 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences <sup>(A)</sup> | 544498 | 65225415 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories <sup>\*(A)</sup> | 34980 | 22020260 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical <sup>\*(A)</sup> | 157573 | 84188102 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals <sup>(A)</sup> | 45717 | 29798341 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals <sup>\*(A)</sup> | 112782 | 47996636 |
|  |  | 354393410 |
| Industrials — 3.6% |  |  |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing <sup>(A)</sup> | 177697 | 46254529 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise <sup>\*(A)</sup> | 34314 | 25125740 |
| &nbsp;&nbsp;&nbsp;Cintas <sup>(A)</sup> | 176779 | 32398288 |
| &nbsp;&nbsp;&nbsp;Copart <sup>\*(A)</sup> | 424515 | 18258390 |
| &nbsp;&nbsp;&nbsp;CSX <sup>(A)</sup> | 818110 | 29468322 |
| &nbsp;&nbsp;&nbsp;Fastenal <sup>(A)</sup> | 503669 | 20725980 |
| &nbsp;&nbsp;&nbsp;Honeywell International <sup>(A)</sup> | 278688 | 56108255 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line <sup>(A)</sup> | 92246 | 12953183 |
| &nbsp;&nbsp;&nbsp;PACCAR <sup>(A)</sup> | 230473 | 22678543 |
| &nbsp;&nbsp;&nbsp;Paychex <sup>(A)</sup> | 158076 | 18499634 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Cl A <sup>(A)</sup> | 61509 | 13455709 |
|  |  | 295926573 |
| Information Technology — 57.3% |  |  |
| &nbsp;&nbsp;&nbsp;Adobe <sup>\*(A)</sup> | 186208 | 63368444 |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices <sup>\*(A)</sup> | 712538 | 182495233 |
| &nbsp;&nbsp;&nbsp;Analog Devices <sup>(A)</sup> | 215746 | 50512611 |
| &nbsp;&nbsp;&nbsp;Apple <sup>(A)</sup> | 2647773 | 715878386 |
| &nbsp;&nbsp;&nbsp;Applied Materials <sup>(A)</sup> | 349420 | 81449802 |
| &nbsp;&nbsp;&nbsp;AppLovin, Cl A <sup>\*(A)</sup> | 134985 | 86029990 |
| &nbsp;&nbsp;&nbsp;Atlassian, Cl A <sup>\*(A)</sup> | 72749 | 12325136 |
| &nbsp;&nbsp;&nbsp;Autodesk <sup>\*(A)</sup> | 93948 | 28310290 |
| &nbsp;&nbsp;&nbsp;Broadcom <sup>(A)</sup> | 1387852 | 512991735 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems <sup>\*(A)</sup> | 119370 | 40429425 |
| &nbsp;&nbsp;&nbsp;CDW <sup>(A)</sup> | 55065 | 8775709 |
| &nbsp;&nbsp;&nbsp;Cisco Systems <sup>(A)</sup> | 1738483 | 127100492 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions, Cl A <sup>(A)</sup> | 214164 | 15608272 |

---

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

*19*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** | **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Cl A <sup>\*(A)</sup> | 110367 | $59930385 |
| &nbsp;&nbsp;&nbsp;Datadog, Cl A <sup>\*(A)</sup> | 141931 | 23107786 |
| &nbsp;&nbsp;&nbsp;Fortinet <sup>\*(A)</sup> | 336489 | 29082744 |
| &nbsp;&nbsp;&nbsp;GLOBALFOUNDRIES <sup>\*(A)</sup> | 232698 | 8284049 |
| &nbsp;&nbsp;&nbsp;Intel <sup>\*(A)</sup> | 1921493 | 76840505 |
| &nbsp;&nbsp;&nbsp;Intuit <sup>(A)</sup> | 122238 | 81599977 |
| &nbsp;&nbsp;&nbsp;KLA <sup>(A)</sup> | 58064 | 70184279 |
| &nbsp;&nbsp;&nbsp;Lam Research <sup>(A)</sup> | 555523 | 87472652 |
| &nbsp;&nbsp;&nbsp;Marvell Technology <sup>(A)</sup> | 378502 | 35480777 |
| &nbsp;&nbsp;&nbsp;Microchip Technology <sup>(A)</sup> | 236949 | 14790357 |
| &nbsp;&nbsp;&nbsp;Micron Technology <sup>(A)</sup> | 491001 | 109871294 |
| &nbsp;&nbsp;&nbsp;Microsoft <sup>(A)</sup> | 1325947 | 686588616 |
| &nbsp;&nbsp;&nbsp;NVIDIA <sup>(A)</sup> | 4335714 | 877938728 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor <sup>\*(A)</sup> | 171769 | 8602192 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Cl A <sup>\*(A)</sup> | 998567 | 200182726 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks <sup>\*(A)</sup> | 293796 | 64705631 |
| &nbsp;&nbsp;&nbsp;QUALCOMM <sup>(A)</sup> | 473739 | 85699385 |
| &nbsp;&nbsp;&nbsp;Roper Technologies <sup>(A)</sup> | 47247 | 21079249 |
| &nbsp;&nbsp;&nbsp;Strategy, Cl A <sup>\*(A)</sup> | 113573 | 30609059 |
| &nbsp;&nbsp;&nbsp;Synopsys <sup>\*(A)</sup> | 81083 | 36797087 |
| &nbsp;&nbsp;&nbsp;Texas Instruments <sup>(A)</sup> | 398836 | 64396061 |
| &nbsp;&nbsp;&nbsp;Workday, Cl A <sup>\*(A)</sup> | 95281 | 22859818 |
| &nbsp;&nbsp;&nbsp;Zscaler <sup>\*(A)</sup> | 68609 | 22719184 |
|  |  | 4644098066 |
| Materials — 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;Linde PLC <sup>(A)</sup> | 206072 | 86199918 |
| &nbsp;&nbsp;&nbsp;Solstice Advanced Materials <sup>\*</sup> | 69816 | 3146607 |
|  |  | 89346525 |
| Real Estate — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;CoStar Group <sup>\*(A)</sup> | 185964 | 12796183 |
| Utilities — 1.5% |  |  |
| &nbsp;&nbsp;&nbsp;American Electric Power <sup>(A)</sup> | 234779 | 28234522 |
| &nbsp;&nbsp;&nbsp;Constellation Energy <sup>(A)</sup> | 137104 | 51688208 |
| &nbsp;&nbsp;&nbsp;Exelon <sup>(A)</sup> | 443077 | 20434711 |

---

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

*20*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** | **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Utilities — continued |  |  |
| &nbsp;&nbsp;&nbsp;Xcel Energy <sup>(A)</sup> | 259375 | $21053469 |
|  |  | 121410910 |
| TOTAL UNITED STATES |  | 8246748314 |
| TOTAL COMMON STOCK <br> (Cost $4,336,317,977) |  | 8571658620 |
| TOTAL INVESTMENTS — 105.8% <br> (Cost $4,336,317,977) |  | $8571658620 |
| **WRITTEN OPTIONS— (5.9)%** |  |  |
| &nbsp;&nbsp;&nbsp;(Premiums Received $(277192613)) |  | $(481225940) |

---

*Percentages are based on Net Assets of $8,098,696,155.*

*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** |
| **WRITTEN OPTIONS — (5.9)%** | **WRITTEN OPTIONS — (5.9)%** |  |  |  |  |
| **Call Options** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Nasdaq-100 | (3314) | $(8569384282) | $24600.00 | 11/21/2025 | $(481225940) |

---

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

*(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 $8,560,555,888.*

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

*21*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** | **Global X NASDAQ 100<sup>®</sup> Covered Call 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* | $*8571658620* | $*—* | $*—* | $*8571658620* |
| *Total Investments in Securities* | $*8571658620* | $*—* | $*—* | $*8571658620* |
| *Other Financial Instruments* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Written Options* | $*(481225940)* | $*—* | $*—* | $*(481225940)* |
| *Total Other Financial Instruments* | $*(481225940)* | $*—* | $*—* | $*(481225940)* |

---

*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.*

*22*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Russell 2000 Covered Call ETF** | **Global X Russell 2000 Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **EXCHANGE-TRADED FUND — 102.8%** |  |  |
| **Domestic Equity — 102.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Global X Russell 2000 ETF <sup>(A)(B)(C)</sup> | 13341859 | $1290083051 |
| TOTAL EXCHANGE-TRADED FUND<br> (Cost $1,061,298,678) |  | 1290083051 |
|  | **Number of<br> Rights** |  |
| **RIGHTS — 0.0%** |  |  |
| **United States — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Cartesian Therapeutics CVR# <sup>\*(D)</sup> | 1 |  |
| &nbsp;&nbsp;&nbsp;Inhibrx CVR# <sup>\*(D)</sup> | 15798 | 10268 |
| &nbsp;&nbsp;&nbsp;Novartis CVR# <sup>\*(D)</sup> | 26043 | 10157 |
| &nbsp;&nbsp;&nbsp;OmniAb CVR# <sup>\*(D)</sup> | 2421 |  |
| &nbsp;&nbsp;&nbsp;OmniAb CVR# <sup>\*(D)</sup> | 2421 |  |
| TOTAL RIGHTS<br> (Cost $–) |  | 20425 |
|  | **Number of<br> Warrants** |  |
| **WARRANTS — 0.0%** |  |  |
| **United States — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Pulse Biosciences, Expires 6/29/30 Strike Price $11.00<sup>\*(D)</sup> | 1148 | 3404 |
| TOTAL WARRANTS<br> (Cost $–) |  | 3404 |
| TOTAL INVESTMENTS — 102.8%<br> (Cost $1,061,298,678) |  | $1290106880 |
| **WRITTEN OPTIONS — (2.9)%** |  |  |
| &nbsp;&nbsp;&nbsp;(Premiums Received $(40144029)) |  | $(36860240) |

---

*Percentages are based on Net Assets of $1,254,506,115.*

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

*23*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Russell 2000 Covered Call ETF** | **Global X Russell 2000 Covered Call ETF** |

---

*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** |
| **WRITTEN OPTIONS — (2.9)%** | **WRITTEN OPTIONS — (2.9)%** |  |  |  |  |
| **Call Options** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Russell 2000 Index | (5177) | $(1283575544) | $2450.00 | 11/21/2025 | $(36860240) |

---

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

*#* *Expiration date not available.*

*(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 $1,290,083,051.*

*(B)* *For financial information on the Global X Russell 2000 ETF, please go to the Fund's website at https://www.globalxetfs.com/explore/.*

*(C)* *Affiliated investment.*

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

*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;*Exchange-Traded Fund* | $*1290083051* | $*—* | $*—* | $*1290083051* |
| &nbsp;&nbsp;&nbsp;*Rights* | *—* | *—* | *20425* | *20425* |
| &nbsp;&nbsp;&nbsp;*Warrants* | *—* | *—* | *3404* | *3404* |
| *Total Investments in Securities* | $*1290083051* | $*—* | $*23829* | $*1290106880* |
| *Other Financial Instruments* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Written Options* | $*(36860240)* | $*—* | $*—* | $*(36860240)* |
| *Total Other Financial Instruments* | $*(36860240)* | $*—* | $*—* | $*(36860240)* |

---

&nbsp;&nbsp;&nbsp;&nbsp;*(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.*

*24*

---

| | |
|:---|:---|
| ![](logom4.jpg) | ![](logom4.jpg) |
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Russell 2000 Covered Call ETF** | **Global X Russell 2000 Covered Call ETF** |

---

*The following is a summary of the Fund's transactions with affiliates for the year ended October 31, 2025:*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Value<br> 10/31/2024 | Purchases<br> at Cost | Proceeds<br> from Sales | Change in<br> Unrealized<br> Appreciation<br> (Depreciation) | Realized Gain<br> (Loss) | Value<br> 10/31/2025 | Income | Capital Gains |
| &nbsp;&nbsp;&nbsp;**Global X Russell 2000 ETF** | &nbsp;&nbsp;&nbsp;**Global X Russell 2000 ETF** |  |  |  |  |  |  |
| $1424845753 | $279520509 | $(564260211) | $115570018 | $34406982 | $1290083051 | $21111671 | $— |

---

*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.*

*25*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** | **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 102.8%** |  |  |
| **BRAZIL — 0.6%** |  |  |
| Consumer Discretionary — 0.6% |  |  |
| &nbsp;&nbsp;&nbsp;MercadoLibre <sup>\*</sup> | 329 | $765669 |
| **CANADA — 1.5%** |  |  |
| Industrials — 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;Thomson Reuters | 2925 | 447701 |
| Information Technology — 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;Shopify, Cl A <sup>\*</sup> | 7921 | 1377145 |
| TOTAL CANADA |  | 1824846 |
| **CHINA — 0.5%** |  |  |
| Consumer Discretionary — 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;PDD Holdings ADR <sup>\*</sup> | 4339 | 585201 |
| **NETHERLANDS — 0.7%** |  |  |
| Information Technology — 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;ASML Holding <sup>(A)</sup> | 548 | 580458 |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors | 1637 | 342329 |
| TOTAL NETHERLANDS |  | 922787 |
| **UNITED KINGDOM — 0.6%** |  |  |
| Consumer Staples — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Coca-Cola Europacific Partners PLC | 2973 | 264092 |
| Health Care — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC ADR | 3812 | 314109 |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;ARM Holdings PLC ADR <sup>\*</sup> | 886 | 150460 |
| TOTAL UNITED KINGDOM |  | 728661 |
| **UNITED STATES — 98.9%** |  |  |
| Communication Services — 15.2% |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl A <sup>(A)</sup> | 15353 | 4317110 |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl C <sup>(A)</sup> | 14328 | 4037917 |
| &nbsp;&nbsp;&nbsp;Charter Communications, Cl A <sup>\*</sup> | 886 | 207182 |

---

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

*26*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** | **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Communication Services — continued |  |  |
| &nbsp;&nbsp;&nbsp;Comcast, Cl A <sup>(A)</sup> | 23912 | $665591 |
| &nbsp;&nbsp;&nbsp;Electronic Arts | 1625 | 325098 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A <sup>(A)</sup> | 5723 | 3710507 |
| &nbsp;&nbsp;&nbsp;Netflix \*<sup>(A)</sup> | 2760 | 3088054 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software <sup>\*</sup> | 1198 | 307131 |
| &nbsp;&nbsp;&nbsp;T-Mobile US | 7307 | 1534835 |
| &nbsp;&nbsp;&nbsp;Trade Desk, Cl A <sup>\*</sup> | 2893 | 145460 |
| &nbsp;&nbsp;&nbsp;Warner Bros Discovery <sup>\*</sup> | 16071 | 360794 |
|  |  | 18699679 |
| Consumer Discretionary — 12.5% |  |  |
| &nbsp;&nbsp;&nbsp;Airbnb, Cl A <sup>\*(A)</sup> | 2787 | 352667 |
| &nbsp;&nbsp;&nbsp;Amazon.com <sup>\*(A)</sup> | 28143 | 6873083 |
| &nbsp;&nbsp;&nbsp;Booking Holdings <sup>(A)</sup> | 213 | 1081558 |
| &nbsp;&nbsp;&nbsp;DoorDash, Cl A <sup>\*</sup> | 2610 | 663906 |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica <sup>\*</sup> | 746 | 127223 |
| &nbsp;&nbsp;&nbsp;Marriott International, Cl A | 1760 | 458621 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive <sup>\*</sup> | 5512 | 520553 |
| &nbsp;&nbsp;&nbsp;Ross Stores | 2122 | 337228 |
| &nbsp;&nbsp;&nbsp;Starbucks | 7379 | 596740 |
| &nbsp;&nbsp;&nbsp;Tesla <sup>\*</sup> | 9621 | 4392564 |
|  |  | 15404143 |
| Consumer Staples — 4.3% |  |  |
| &nbsp;&nbsp;&nbsp;Costco Wholesale <sup>(A)</sup> | 2879 | 2624065 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper | 8822 | 239606 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz | 7685 | 190050 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Cl A | 8403 | 482836 |
| &nbsp;&nbsp;&nbsp;Monster Beverage <sup>\*</sup> | 6342 | 423836 |
| &nbsp;&nbsp;&nbsp;PepsiCo | 8890 | 1298740 |
|  |  | 5259133 |
| Energy — 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;Baker Hughes, Cl A | 6402 | 309921 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy | 1882 | 269483 |
|  |  | 579404 |
| Financials — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;PayPal Holdings <sup>\*</sup> | 6201 | 429543 |

---

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

*27*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** | **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — 4.2% |  |  |
| &nbsp;&nbsp;&nbsp;Amgen <sup>(A)</sup> | 3498 | $1043908 |
| &nbsp;&nbsp;&nbsp;Biogen <sup>\*</sup> | 950 | 146557 |
| &nbsp;&nbsp;&nbsp;Dexcom <sup>\*</sup> | 2545 | 148170 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies | 2963 | 222077 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences | 8057 | 965148 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories <sup>\*</sup> | 510 | 321050 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical <sup>\*</sup> | 2329 | 1244338 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals | 679 | 442572 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals <sup>\*</sup> | 1664 | 708148 |
|  |  | 5241968 |
| Industrials — 3.5% |  |  |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing | 2627 | 683808 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise <sup>\*</sup> | 507 | 371241 |
| &nbsp;&nbsp;&nbsp;Cintas | 2614 | 479068 |
| &nbsp;&nbsp;&nbsp;Copart <sup>\*</sup> | 6275 | 269888 |
| &nbsp;&nbsp;&nbsp;CSX | 12105 | 436022 |
| &nbsp;&nbsp;&nbsp;Fastenal | 7449 | 306526 |
| &nbsp;&nbsp;&nbsp;Honeywell International <sup>(A)</sup> | 4121 | 829681 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line | 1362 | 191252 |
| &nbsp;&nbsp;&nbsp;PACCAR | 3407 | 335249 |
| &nbsp;&nbsp;&nbsp;Paychex | 2336 | 273382 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Cl A | 906 | 198196 |
|  |  | 4374313 |
| Information Technology — 55.7% |  |  |
| &nbsp;&nbsp;&nbsp;Adobe <sup>\*(A)</sup> | 2756 | 937894 |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices <sup>\*(A)</sup> | 10537 | 2698737 |
| &nbsp;&nbsp;&nbsp;Analog Devices | 3195 | 748045 |
| &nbsp;&nbsp;&nbsp;Apple <sup>(A)</sup> | 39162 | 10588230 |
| &nbsp;&nbsp;&nbsp;Applied Materials <sup>(A)</sup> | 5174 | 1206059 |
| &nbsp;&nbsp;&nbsp;AppLovin, Cl A <sup>\*</sup> | 1998 | 1273385 |
| &nbsp;&nbsp;&nbsp;Atlassian, Cl A <sup>\*</sup> | 1082 | 183313 |
| &nbsp;&nbsp;&nbsp;Autodesk <sup>\*</sup> | 1387 | 417959 |
| &nbsp;&nbsp;&nbsp;Broadcom <sup>(A)</sup> | 20526 | 7587025 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems <sup>\*</sup> | 1767 | 598465 |
| &nbsp;&nbsp;&nbsp;CDW | 850 | 135465 |
| &nbsp;&nbsp;&nbsp;Cisco Systems <sup>(A)</sup> | 25709 | 1879585 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions, Cl A | 3172 | 231175 |

---

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

*28*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** | **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Cl A <sup>\*</sup> | 1629 | $884563 |
| &nbsp;&nbsp;&nbsp;Datadog, Cl A <sup>\*</sup> | 2098 | 341575 |
| &nbsp;&nbsp;&nbsp;Fortinet <sup>\*</sup> | 4974 | 429903 |
| &nbsp;&nbsp;&nbsp;GLOBALFOUNDRIES <sup>\*</sup> | 3604 | 128302 |
| &nbsp;&nbsp;&nbsp;Intel <sup>\*</sup> | 28419 | 1136476 |
| &nbsp;&nbsp;&nbsp;Intuit | 1808 | 1206930 |
| &nbsp;&nbsp;&nbsp;KLA | 853 | 1031055 |
| &nbsp;&nbsp;&nbsp;Lam Research | 8216 | 1293691 |
| &nbsp;&nbsp;&nbsp;Marvell Technology | 5599 | 524850 |
| &nbsp;&nbsp;&nbsp;Microchip Technology | 3506 | 218845 |
| &nbsp;&nbsp;&nbsp;Micron Technology <sup>(A)</sup> | 7267 | 1626137 |
| &nbsp;&nbsp;&nbsp;Microsoft <sup>(A)</sup> | 19615 | 10156843 |
| &nbsp;&nbsp;&nbsp;NVIDIA <sup>(A)</sup> | 64129 | 12985481 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor <sup>\*</sup> | 2658 | 133113 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Cl A <sup>\*</sup> | 14764 | 2959739 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks <sup>\*</sup> | 4345 | 956943 |
| &nbsp;&nbsp;&nbsp;QUALCOMM | 7004 | 1267024 |
| &nbsp;&nbsp;&nbsp;Roper Technologies | 700 | 312305 |
| &nbsp;&nbsp;&nbsp;Strategy, Cl A <sup>\*</sup> | 1712 | 461401 |
| &nbsp;&nbsp;&nbsp;Synopsys <sup>\*</sup> | 1202 | 545492 |
| &nbsp;&nbsp;&nbsp;Texas Instruments | 5906 | 953583 |
| &nbsp;&nbsp;&nbsp;Workday, Cl A <sup>\*</sup> | 1406 | 337328 |
| &nbsp;&nbsp;&nbsp;Zscaler <sup>\*</sup> | 1002 | 331802 |
|  |  | 68708718 |
| Materials — 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;Linde PLC <sup>(A)</sup> | 3042 | 1272469 |
| &nbsp;&nbsp;&nbsp;Solstice Advanced Materials <sup>\*</sup> | 1030 | 46422 |
|  |  | 1318891 |
| Real Estate — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;CoStar Group <sup>\*</sup> | 2752 | 189365 |
| Utilities — 1.5% |  |  |
| &nbsp;&nbsp;&nbsp;American Electric Power | 3475 | 417904 |
| &nbsp;&nbsp;&nbsp;Constellation Energy | 2028 | 764556 |
| &nbsp;&nbsp;&nbsp;Exelon | 6557 | 302409 |

---

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

*29*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** | **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Utilities — continued |  |  |
| &nbsp;&nbsp;&nbsp;Xcel Energy | 3837 | $311449 |
|  |  | 1796318 |
| TOTAL UNITED STATES |  | 122001475 |
| TOTAL COMMON STOCK<br> (Cost $77,515,316) |  | 126828639 |
| TOTAL INVESTMENTS — 102.8%<br> (Cost $77,515,316) |  | $126828639 |
| **WRITTEN OPTIONS— (2.8)%** |  |  |
| &nbsp;&nbsp;&nbsp;(Premiums Received $(2009898)) |  | $(3485040) |

---

*Percentages are based on Net Assets of $123,390,041.*

*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** |
| **WRITTEN OPTIONS — (2.8)%** | **WRITTEN OPTIONS — (2.8)%** | **WRITTEN OPTIONS — (2.8)%** |  |  |  |
| **Call Options** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Nasdaq-100 | (24) | $(62059512) | $24600.00 | 11/21/2025 | $(3485040) |

---

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

*(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 $73,225,049.*

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

*30*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** | **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth 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* | $*126828639* | $*—* | $*—* | $*126828639* |
| *Total Investments in Securities* | $*126828639* | $*—* | $*—* | $*126828639* |
| *Other Financial Instruments* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Written Options* | $*(3485040)* | $*—* | $*—* | $*(3485040)* |
| *Total Other Financial Instruments* | $*(3485040)* | $*—* | $*—* | $*(3485040)* |

---

*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.*

*31*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 101.8%** |  |  |
| **NETHERLANDS — 0.1%** |  |  |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors <sup>(A)</sup> | 240 | $50189 |
| **SWITZERLAND — 0.1%** |  |  |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;TE Connectivity PLC | 278 | 68668 |
| **UNITED STATES — 101.6%** |  |  |
| Communication Services — 10.3% |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl A <sup>(A)</sup> | 5578 | 1568478 |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl C <sup>(A)</sup> | 4478 | 1261990 |
| &nbsp;&nbsp;&nbsp;AT&T <sup>(A)</sup> | 6855 | 169661 |
| &nbsp;&nbsp;&nbsp;Charter Communications, Cl A <sup>\*(A)</sup> | 94 | 21981 |
| &nbsp;&nbsp;&nbsp;Comcast, Cl A <sup>(A)</sup> | 3530 | 98258 |
| &nbsp;&nbsp;&nbsp;Electronic Arts <sup>(A)</sup> | 213 | 42613 |
| &nbsp;&nbsp;&nbsp;Fox, Cl A <sup>(A)</sup> | 194 | 12542 |
| &nbsp;&nbsp;&nbsp;Fox, Cl B <sup>(A)</sup> | 141 | 8236 |
| &nbsp;&nbsp;&nbsp;Interpublic Group | 349 | 8955 |
| &nbsp;&nbsp;&nbsp;Live Nation Entertainment <sup>\*</sup> | 150 | 22429 |
| &nbsp;&nbsp;&nbsp;Match Group | 220 | 7115 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A <sup>(A)</sup> | 2080 | 1348568 |
| &nbsp;&nbsp;&nbsp;Netflix \* | 407 | 455376 |
| &nbsp;&nbsp;&nbsp;News, Cl A | 359 | 9513 |
| &nbsp;&nbsp;&nbsp;News, Cl B | 117 | 3565 |
| &nbsp;&nbsp;&nbsp;Omnicom Group | 179 | 13429 |
| &nbsp;&nbsp;&nbsp;Paramount Skydance Corp, Cl B | 293 | 4509 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software <sup>\*</sup> | 168 | 43070 |
| &nbsp;&nbsp;&nbsp;TKO Group Holdings, Cl A | 64 | 12058 |
| &nbsp;&nbsp;&nbsp;T-Mobile US | 466 | 97883 |
| &nbsp;&nbsp;&nbsp;Trade Desk, Cl A <sup>\*</sup> | 417 | 20967 |
| &nbsp;&nbsp;&nbsp;Verizon Communications | 4042 | 160629 |
| &nbsp;&nbsp;&nbsp;Walt Disney <sup>(A)</sup> | 1724 | 194157 |
| &nbsp;&nbsp;&nbsp;Warner Bros Discovery <sup>\*</sup> | 2371 | 53229 |
|  |  | 5639211 |
| Consumer Discretionary — 10.7% |  |  |
| &nbsp;&nbsp;&nbsp;Airbnb, Cl A <sup>\*(A)</sup> | 406 | 51375 |
| &nbsp;&nbsp;&nbsp;Amazon.com <sup>\*(A)</sup> | 9307 | 2272956 |

---

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

*32*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;APTIV PLC <sup>\*</sup> | 203 | $16463 |
| &nbsp;&nbsp;&nbsp;AutoZone <sup>\*(A)</sup> | 16 | 58791 |
| &nbsp;&nbsp;&nbsp;Best Buy <sup>(A)</sup> | 188 | 15442 |
| &nbsp;&nbsp;&nbsp;Booking Holdings <sup>(A)</sup> | 32 | 162488 |
| &nbsp;&nbsp;&nbsp;Carnival <sup>\*(A)</sup> | 1039 | 29954 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Cl A <sup>\*(A)</sup> | 1285 | 40722 |
| &nbsp;&nbsp;&nbsp;Darden Restaurants <sup>(A)</sup> | 109 | 19636 |
| &nbsp;&nbsp;&nbsp;Deckers Outdoor <sup>\*(A)</sup> | 143 | 11655 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza <sup>(A)</sup> | 35 | 13946 |
| &nbsp;&nbsp;&nbsp;DoorDash, Cl A <sup>\*</sup> | 355 | 90301 |
| &nbsp;&nbsp;&nbsp;DR Horton <sup>(A)</sup> | 263 | 39208 |
| &nbsp;&nbsp;&nbsp;eBay <sup>(A)</sup> | 438 | 35614 |
| &nbsp;&nbsp;&nbsp;Expedia Group <sup>(A)</sup> | 115 | 25300 |
| &nbsp;&nbsp;&nbsp;Ford Motor <sup>(A)</sup> | 3744 | 49159 |
| &nbsp;&nbsp;&nbsp;Garmin <sup>(A)</sup> | 148 | 31663 |
| &nbsp;&nbsp;&nbsp;General Motors <sup>(A)</sup> | 912 | 63010 |
| &nbsp;&nbsp;&nbsp;Genuine Parts <sup>(A)</sup> | 130 | 16550 |
| &nbsp;&nbsp;&nbsp;Hasbro <sup>(A)</sup> | 127 | 9691 |
| &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings <sup>(A)</sup> | 223 | 57302 |
| &nbsp;&nbsp;&nbsp;Home Depot <sup>(A)</sup> | 954 | 362129 |
| &nbsp;&nbsp;&nbsp;Las Vegas Sands | 285 | 16915 |
| &nbsp;&nbsp;&nbsp;Lennar, Cl A | 214 | 26487 |
| &nbsp;&nbsp;&nbsp;LKQ | 245 | 7830 |
| &nbsp;&nbsp;&nbsp;Lowe's | 536 | 127638 |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica <sup>\*</sup> | 105 | 17907 |
| &nbsp;&nbsp;&nbsp;Marriott International, Cl A | 214 | 55764 |
| &nbsp;&nbsp;&nbsp;McDonald's | 677 | 202037 |
| &nbsp;&nbsp;&nbsp;MGM Resorts International <sup>\*</sup> | 184 | 5894 |
| &nbsp;&nbsp;&nbsp;Mohawk Industries <sup>\*</sup> | 48 | 5455 |
| &nbsp;&nbsp;&nbsp;NIKE, Cl B | 1138 | 73503 |
| &nbsp;&nbsp;&nbsp;Norwegian Cruise Line Holdings <sup>\*(A)</sup> | 431 | 9663 |
| &nbsp;&nbsp;&nbsp;NVR <sup>\*</sup> | 3 | 21633 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive <sup>\*</sup> | 806 | 76119 |
| &nbsp;&nbsp;&nbsp;Pool | 29 | 7745 |
| &nbsp;&nbsp;&nbsp;PulteGroup | 185 | 22176 |
| &nbsp;&nbsp;&nbsp;Ralph Lauren, Cl A | 36 | 11508 |
| &nbsp;&nbsp;&nbsp;Ross Stores | 313 | 49742 |
| &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises <sup>(A)</sup> | 239 | 68552 |
| &nbsp;&nbsp;&nbsp;Starbucks | 1089 | 88067 |

---

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

*33*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;Tapestry | 199 | $21854 |
| &nbsp;&nbsp;&nbsp;Tesla <sup>\*(A)</sup> | 2691 | 1228603 |
| &nbsp;&nbsp;&nbsp;TJX | 1059 | 148408 |
| &nbsp;&nbsp;&nbsp;Tractor Supply | 497 | 26893 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty <sup>\*</sup> | 50 | 25994 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma | 115 | 22349 |
| &nbsp;&nbsp;&nbsp;Wynn Resorts | 79 | 9400 |
| &nbsp;&nbsp;&nbsp;Yum! Brands | 263 | 36349 |
|  |  | 5887840 |
| Consumer Staples — 4.7% |  |  |
| &nbsp;&nbsp;&nbsp;Altria Group <sup>(A)</sup> | 1610 | 90772 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland <sup>(A)</sup> | 453 | 27420 |
| &nbsp;&nbsp;&nbsp;Brown-Forman, Cl B <sup>(A)</sup> | 167 | 4547 |
| &nbsp;&nbsp;&nbsp;Bunge Global <sup>(A)</sup> | 134 | 12676 |
| &nbsp;&nbsp;&nbsp;Church & Dwight <sup>(A)</sup> | 229 | 20081 |
| &nbsp;&nbsp;&nbsp;Clorox <sup>(A)</sup> | 117 | 13158 |
| &nbsp;&nbsp;&nbsp;Coca-Cola <sup>(A)</sup> | 3714 | 255895 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive <sup>(A)</sup> | 766 | 59020 |
| &nbsp;&nbsp;&nbsp;Conagra Brands <sup>(A)</sup> | 456 | 7839 |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Cl A <sup>(A)</sup> | 132 | 17342 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale <sup>(A)</sup> | 423 | 385543 |
| &nbsp;&nbsp;&nbsp;Dollar General <sup>(A)</sup> | 213 | 21015 |
| &nbsp;&nbsp;&nbsp;Dollar Tree <sup>\*(A)</sup> | 181 | 17941 |
| &nbsp;&nbsp;&nbsp;Estee Lauder, Cl A | 225 | 21755 |
| &nbsp;&nbsp;&nbsp;General Mills <sup>(A)</sup> | 512 | 23864 |
| &nbsp;&nbsp;&nbsp;Hershey <sup>(A)</sup> | 140 | 23748 |
| &nbsp;&nbsp;&nbsp;Hormel Foods <sup>(A)</sup> | 277 | 5980 |
| &nbsp;&nbsp;&nbsp;J M Smucker | 94 | 9734 |
| &nbsp;&nbsp;&nbsp;Kellanova | 253 | 21014 |
| &nbsp;&nbsp;&nbsp;Kenvue | 1837 | 26398 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper | 1301 | 35335 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark | 318 | 38068 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz | 815 | 20155 |
| &nbsp;&nbsp;&nbsp;Kroger | 574 | 36524 |
| &nbsp;&nbsp;&nbsp;Lamb Weston Holdings | 124 | 7655 |
| &nbsp;&nbsp;&nbsp;McCormick | 236 | 15142 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage, Cl B | 153 | 6689 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Cl A | 1240 | 71250 |

---

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

*34*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Staples — continued |  |  |
| &nbsp;&nbsp;&nbsp;Monster Beverage <sup>\*</sup> | 673 | $44977 |
| &nbsp;&nbsp;&nbsp;PepsiCo | 1313 | 191816 |
| &nbsp;&nbsp;&nbsp;Philip Morris International | 1492 | 215340 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble | 2246 | 337731 |
| &nbsp;&nbsp;&nbsp;Sysco | 457 | 33946 |
| &nbsp;&nbsp;&nbsp;Target | 435 | 40333 |
| &nbsp;&nbsp;&nbsp;The Campbell's Company <sup>(A)</sup> | 187 | 5634 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Cl A | 272 | 13984 |
| &nbsp;&nbsp;&nbsp;Walmart | 4209 | 425867 |
|  |  | 2606188 |
| Energy — 2.8% |  |  |
| &nbsp;&nbsp;&nbsp;APA <sup>(A)</sup> | 341 | 7724 |
| &nbsp;&nbsp;&nbsp;Baker Hughes, Cl A <sup>(A)</sup> | 944 | 45699 |
| &nbsp;&nbsp;&nbsp;Chevron <sup>(A)</sup> | 1845 | 290993 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips <sup>(A)</sup> | 1187 | 105477 |
| &nbsp;&nbsp;&nbsp;Coterra Energy <sup>(A)</sup> | 729 | 17248 |
| &nbsp;&nbsp;&nbsp;Devon Energy <sup>(A)</sup> | 607 | 19721 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy <sup>(A)</sup> | 181 | 25917 |
| &nbsp;&nbsp;&nbsp;EOG Resources <sup>(A)</sup> | 523 | 55354 |
| &nbsp;&nbsp;&nbsp;EQT <sup>(A)</sup> | 597 | 31987 |
| &nbsp;&nbsp;&nbsp;Expand Energy | 228 | 23555 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil <sup>(A)</sup> | 4088 | 467504 |
| &nbsp;&nbsp;&nbsp;Halliburton <sup>(A)</sup> | 815 | 21875 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan | 1873 | 49054 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum | 292 | 56914 |
| &nbsp;&nbsp;&nbsp;Occidental Petroleum | 679 | 27975 |
| &nbsp;&nbsp;&nbsp;ONEOK | 603 | 40401 |
| &nbsp;&nbsp;&nbsp;Phillips 66 | 382 | 52005 |
| &nbsp;&nbsp;&nbsp;SLB LTD <sup>(A)</sup> | 1429 | 51530 |
| &nbsp;&nbsp;&nbsp;Targa Resources | 203 | 31270 |
| &nbsp;&nbsp;&nbsp;Texas Pacific Land | 21 | 19811 |
| &nbsp;&nbsp;&nbsp;Valero Energy | 292 | 49511 |
| &nbsp;&nbsp;&nbsp;Williams | 1170 | 67708 |
|  |  | 1559233 |
| Financials — 13.1% |  |  |
| &nbsp;&nbsp;&nbsp;Aflac <sup>(A)</sup> | 457 | 48986 |
| &nbsp;&nbsp;&nbsp;Allstate <sup>(A)</sup> | 248 | 47497 |

---

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

*35*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;American Express <sup>(A)</sup> | 515 | $185776 |
| &nbsp;&nbsp;&nbsp;American International Group <sup>(A)</sup> | 522 | 41217 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial <sup>(A)</sup> | 95 | 43013 |
| &nbsp;&nbsp;&nbsp;Aon PLC, Cl A <sup>(A)</sup> | 205 | 69839 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management | 437 | 54323 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group <sup>(A)</sup> | 349 | 30122 |
| &nbsp;&nbsp;&nbsp;Arthur J Gallagher <sup>(A)</sup> | 244 | 60876 |
| &nbsp;&nbsp;&nbsp;Assurant <sup>(A)</sup> | 50 | 10586 |
| &nbsp;&nbsp;&nbsp;Bank of America <sup>(A)</sup> | 6534 | 349242 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon <sup>(A)</sup> | 667 | 71989 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Cl B <sup>\*(A)</sup> | 1758 | 839515 |
| &nbsp;&nbsp;&nbsp;BlackRock Funding | 138 | 149428 |
| &nbsp;&nbsp;&nbsp;Blackstone <sup>(A)</sup> | 703 | 103088 |
| &nbsp;&nbsp;&nbsp;Block, Cl A <sup>\*</sup> | 518 | 39337 |
| &nbsp;&nbsp;&nbsp;Brown & Brown <sup>(A)</sup> | 280 | 22327 |
| &nbsp;&nbsp;&nbsp;Capital One Financial <sup>(A)</sup> | 608 | 133754 |
| &nbsp;&nbsp;&nbsp;Cboe Global Markets <sup>(A)</sup> | 96 | 23581 |
| &nbsp;&nbsp;&nbsp;Charles Schwab | 1636 | 154635 |
| &nbsp;&nbsp;&nbsp;Chubb <sup>(A)</sup> | 360 | 99698 |
| &nbsp;&nbsp;&nbsp;Cincinnati Financial <sup>(A)</sup> | 149 | 23034 |
| &nbsp;&nbsp;&nbsp;Citigroup <sup>(A)</sup> | 1765 | 178671 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group <sup>(A)</sup> | 404 | 20551 |
| &nbsp;&nbsp;&nbsp;CME Group, Cl A <sup>(A)</sup> | 347 | 92125 |
| &nbsp;&nbsp;&nbsp;Coinbase Global, Cl A <sup>\*</sup> | 209 | 71850 |
| &nbsp;&nbsp;&nbsp;Corpay <sup>\*(A)</sup> | 75 | 19526 |
| &nbsp;&nbsp;&nbsp;Erie Indemnity, Cl A | 29 | 8487 |
| &nbsp;&nbsp;&nbsp;Everest Group <sup>(A)</sup> | 35 | 11008 |
| &nbsp;&nbsp;&nbsp;FactSet Research Systems <sup>(A)</sup> | 32 | 8538 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services <sup>(A)</sup> | 500 | 31260 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp <sup>(A)</sup> | 624 | 25971 |
| &nbsp;&nbsp;&nbsp;Fiserv <sup>\*(A)</sup> | 514 | 34279 |
| &nbsp;&nbsp;&nbsp;Franklin Resources <sup>(A)</sup> | 291 | 6580 |
| &nbsp;&nbsp;&nbsp;Global Payments <sup>(A)</sup> | 228 | 17729 |
| &nbsp;&nbsp;&nbsp;Globe Life <sup>(A)</sup> | 77 | 10126 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group <sup>(A)</sup> | 295 | 232864 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group <sup>(A)</sup> | 267 | 33156 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares <sup>(A)</sup> | 1402 | 21647 |
| &nbsp;&nbsp;&nbsp;Interactive Brokers Group, Cl A | 421 | 29622 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange | 543 | 79435 |

---

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

*36*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Invesco <sup>(A)</sup> | 425 | $10072 |
| &nbsp;&nbsp;&nbsp;Jack Henry & Associates <sup>(A)</sup> | 76 | 11319 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase <sup>(A)</sup> | 2637 | 820423 |
| &nbsp;&nbsp;&nbsp;KeyCorp | 891 | 15673 |
| &nbsp;&nbsp;&nbsp;KKR | 653 | 77269 |
| &nbsp;&nbsp;&nbsp;Loews | 157 | 15631 |
| &nbsp;&nbsp;&nbsp;M&T Bank | 146 | 26845 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan | 471 | 83909 |
| &nbsp;&nbsp;&nbsp;Mastercard, Cl A | 791 | 436624 |
| &nbsp;&nbsp;&nbsp;MetLife | 527 | 42065 |
| &nbsp;&nbsp;&nbsp;Moody's | 152 | 73006 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 1154 | 189256 |
| &nbsp;&nbsp;&nbsp;MSCI, Cl A | 81 | 47673 |
| &nbsp;&nbsp;&nbsp;Nasdaq | 434 | 37103 |
| &nbsp;&nbsp;&nbsp;Northern Trust | 179 | 23032 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings <sup>\*</sup> | 915 | 63382 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group | 373 | 68091 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group | 189 | 15884 |
| &nbsp;&nbsp;&nbsp;Progressive | 564 | 116184 |
| &nbsp;&nbsp;&nbsp;Prudential Financial | 331 | 34424 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial | 166 | 26339 |
| &nbsp;&nbsp;&nbsp;Regions Financial | 853 | 20643 |
| &nbsp;&nbsp;&nbsp;Robinhood Markets, Cl A <sup>\*</sup> | 734 | 107737 |
| &nbsp;&nbsp;&nbsp;S&P Global | 301 | 146650 |
| &nbsp;&nbsp;&nbsp;State Street | 269 | 31113 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | 349 | 25959 |
| &nbsp;&nbsp;&nbsp;T Rowe Price Group | 206 | 21121 |
| &nbsp;&nbsp;&nbsp;Travelers | 214 | 57485 |
| &nbsp;&nbsp;&nbsp;Truist Financial | 1235 | 55118 |
| &nbsp;&nbsp;&nbsp;US Bancorp | 1491 | 69600 |
| &nbsp;&nbsp;&nbsp;Visa, Cl A | 1629 | 555065 |
| &nbsp;&nbsp;&nbsp;W R Berkley <sup>(A)</sup> | 283 | 20189 |
| &nbsp;&nbsp;&nbsp;Wells Fargo | 3071 | 267085 |
| &nbsp;&nbsp;&nbsp;Willis Towers Watson PLC <sup>(A)</sup> | 96 | 30058 |
|  |  | 7177315 |
| Health Care — 9.1% |  |  |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories <sup>(A)</sup> | 1669 | 206322 |
| &nbsp;&nbsp;&nbsp;AbbVie <sup>(A)</sup> | 1694 | 369360 |

---

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

*37*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Agilent Technologies <sup>(A)</sup> | 269 | $39371 |
| &nbsp;&nbsp;&nbsp;Align Technology <sup>\*(A)</sup> | 70 | 9652 |
| &nbsp;&nbsp;&nbsp;Amgen <sup>(A)</sup> | 518 | 154587 |
| &nbsp;&nbsp;&nbsp;Baxter International <sup>(A)</sup> | 490 | 9050 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson <sup>(A)</sup> | 273 | 48788 |
| &nbsp;&nbsp;&nbsp;Biogen <sup>\*(A)</sup> | 138 | 21289 |
| &nbsp;&nbsp;&nbsp;Bio-Techne <sup>(A)</sup> | 149 | 9323 |
| &nbsp;&nbsp;&nbsp;Boston Scientific \*<sup>(A)</sup> | 1420 | 143022 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb <sup>(A)</sup> | 1951 | 89882 |
| &nbsp;&nbsp;&nbsp;Cardinal Health <sup>(A)</sup> | 226 | 43114 |
| &nbsp;&nbsp;&nbsp;Cencora <sup>(A)</sup> | 186 | 62833 |
| &nbsp;&nbsp;&nbsp;Centene <sup>\*(A)</sup> | 446 | 15775 |
| &nbsp;&nbsp;&nbsp;Charles River Laboratories International <sup>\*(A)</sup> | 45 | 8103 |
| &nbsp;&nbsp;&nbsp;Cigna Group <sup>(A)</sup> | 255 | 62324 |
| &nbsp;&nbsp;&nbsp;Cooper <sup>\*(A)</sup> | 191 | 13353 |
| &nbsp;&nbsp;&nbsp;CVS Health <sup>(A)</sup> | 1216 | 95030 |
| &nbsp;&nbsp;&nbsp;Danaher <sup>(A)</sup> | 611 | 131597 |
| &nbsp;&nbsp;&nbsp;DaVita <sup>\*(A)</sup> | 32 | 3809 |
| &nbsp;&nbsp;&nbsp;Dexcom <sup>\*(A)</sup> | 368 | 21425 |
| &nbsp;&nbsp;&nbsp;Edwards Lifesciences <sup>\*(A)</sup> | 562 | 46337 |
| &nbsp;&nbsp;&nbsp;Elevance Health <sup>(A)</sup> | 213 | 67564 |
| &nbsp;&nbsp;&nbsp;Eli Lilly <sup>(A)</sup> | 762 | 657499 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies <sup>(A)</sup> | 431 | 32303 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences <sup>(A)</sup> | 1180 | 141352 |
| &nbsp;&nbsp;&nbsp;HCA Healthcare <sup>(A)</sup> | 162 | 74468 |
| &nbsp;&nbsp;&nbsp;Henry Schein <sup>\*</sup> | 91 | 5751 |
| &nbsp;&nbsp;&nbsp;Hologic <sup>\*(A)</sup> | 212 | 15669 |
| &nbsp;&nbsp;&nbsp;Humana <sup>(A)</sup> | 114 | 31714 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories <sup>\*</sup> | 85 | 53508 |
| &nbsp;&nbsp;&nbsp;Incyte <sup>\*</sup> | 152 | 14209 |
| &nbsp;&nbsp;&nbsp;Insulet <sup>\*</sup> | 72 | 22537 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical <sup>\*</sup> | 345 | 184327 |
| &nbsp;&nbsp;&nbsp;IQVIA Holdings <sup>\*</sup> | 161 | 34850 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | 2309 | 436101 |
| &nbsp;&nbsp;&nbsp;Labcorp Holdings | 85 | 21587 |
| &nbsp;&nbsp;&nbsp;McKesson | 121 | 98172 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC <sup>(A)</sup> | 1228 | 111380 |
| &nbsp;&nbsp;&nbsp;Merck | 2395 | 205922 |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International <sup>\*</sup> | 23 | 32575 |

---

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

*38*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Moderna <sup>\*</sup> | 330 | $8963 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare <sup>\*</sup> | 51 | 7806 |
| &nbsp;&nbsp;&nbsp;Pfizer | 5450 | 134342 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics | 101 | 17771 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals | 99 | 64528 |
| &nbsp;&nbsp;&nbsp;ResMed | 139 | 34316 |
| &nbsp;&nbsp;&nbsp;Revvity | 108 | 10108 |
| &nbsp;&nbsp;&nbsp;Solventum <sup>\*</sup> | 141 | 9735 |
| &nbsp;&nbsp;&nbsp;STERIS PLC <sup>(A)</sup> | 90 | 21213 |
| &nbsp;&nbsp;&nbsp;Stryker | 330 | 117559 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific | 363 | 205962 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group <sup>(A)</sup> | 868 | 296474 |
| &nbsp;&nbsp;&nbsp;Universal Health Services, Cl B | 58 | 12587 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals <sup>\*</sup> | 247 | 105116 |
| &nbsp;&nbsp;&nbsp;Viatris | 1113 | 11531 |
| &nbsp;&nbsp;&nbsp;Waters <sup>\*</sup> | 63 | 22025 |
| &nbsp;&nbsp;&nbsp;West Pharmaceutical Services | 73 | 20591 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings | 192 | 19307 |
| &nbsp;&nbsp;&nbsp;Zoetis, Cl A | 421 | 60662 |
|  |  | 5026430 |
| Industrials — 8.3% |  |  |
| &nbsp;&nbsp;&nbsp;3M | 504 | 83916 |
| &nbsp;&nbsp;&nbsp;A O Smith | 106 | 6995 |
| &nbsp;&nbsp;&nbsp;Allegion PLC <sup>(A)</sup> | 86 | 14256 |
| &nbsp;&nbsp;&nbsp;AMETEK <sup>(A)</sup> | 219 | 44262 |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing <sup>(A)</sup> | 385 | 100215 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise <sup>\*(A)</sup> | 76 | 55649 |
| &nbsp;&nbsp;&nbsp;Boeing <sup>\*(A)</sup> | 718 | 144332 |
| &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions <sup>(A)</sup> | 110 | 24244 |
| &nbsp;&nbsp;&nbsp;Builders FirstSource <sup>\*(A)</sup> | 104 | 12082 |
| &nbsp;&nbsp;&nbsp;Carrier Global <sup>(A)</sup> | 756 | 44974 |
| &nbsp;&nbsp;&nbsp;Caterpillar <sup>(A)</sup> | 456 | 263231 |
| &nbsp;&nbsp;&nbsp;CH Robinson Worldwide <sup>(A)</sup> | 107 | 16477 |
| &nbsp;&nbsp;&nbsp;Cintas <sup>(A)</sup> | 323 | 59196 |
| &nbsp;&nbsp;&nbsp;Copart <sup>\*(A)</sup> | 843 | 36257 |
| &nbsp;&nbsp;&nbsp;CSX <sup>(A)</sup> | 1786 | 64332 |
| &nbsp;&nbsp;&nbsp;Cummins <sup>(A)</sup> | 130 | 56898 |
| &nbsp;&nbsp;&nbsp;Dayforce <sup>\*(A)</sup> | 144 | 9899 |

---

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

*39*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Deere <sup>(A)</sup> | 243 | $112176 |
| &nbsp;&nbsp;&nbsp;Delta Air Lines <sup>(A)</sup> | 613 | 35174 |
| &nbsp;&nbsp;&nbsp;Dover <sup>(A)</sup> | 130 | 23590 |
| &nbsp;&nbsp;&nbsp;Eaton PLC <sup>(A)</sup> | 376 | 143467 |
| &nbsp;&nbsp;&nbsp;EMCOR Group | 43 | 29059 |
| &nbsp;&nbsp;&nbsp;Emerson Electric <sup>(A)</sup> | 533 | 74391 |
| &nbsp;&nbsp;&nbsp;Equifax <sup>(A)</sup> | 115 | 24276 |
| &nbsp;&nbsp;&nbsp;Expeditors International of Washington <sup>(A)</sup> | 130 | 15847 |
| &nbsp;&nbsp;&nbsp;Fastenal <sup>(A)</sup> | 1099 | 45224 |
| &nbsp;&nbsp;&nbsp;FedEx <sup>(A)</sup> | 205 | 52033 |
| &nbsp;&nbsp;&nbsp;Fortive <sup>(A)</sup> | 313 | 15756 |
| &nbsp;&nbsp;&nbsp;GE Aerospace <sup>(A)</sup> | 1010 | 312039 |
| &nbsp;&nbsp;&nbsp;GE Vernova <sup>(A)</sup> | 265 | 155062 |
| &nbsp;&nbsp;&nbsp;Generac Holdings <sup>\*(A)</sup> | 61 | 10249 |
| &nbsp;&nbsp;&nbsp;General Dynamics <sup>(A)</sup> | 240 | 82776 |
| &nbsp;&nbsp;&nbsp;Honeywell International <sup>(A)</sup> | 604 | 121603 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace <sup>(A)</sup> | 382 | 78673 |
| &nbsp;&nbsp;&nbsp;Hubbell, Cl B <sup>(A)</sup> | 57 | 26790 |
| &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries | 45 | 14491 |
| &nbsp;&nbsp;&nbsp;IDEX | 71 | 12174 |
| &nbsp;&nbsp;&nbsp;Illinois Tool Works <sup>(A)</sup> | 253 | 61712 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand | 339 | 25876 |
| &nbsp;&nbsp;&nbsp;Jacobs Solutions | 113 | 17607 |
| &nbsp;&nbsp;&nbsp;JB Hunt Transport Services <sup>(A)</sup> | 79 | 13340 |
| &nbsp;&nbsp;&nbsp;Johnson Controls International <sup>(A)</sup> | 621 | 71036 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies | 185 | 53484 |
| &nbsp;&nbsp;&nbsp;Leidos Holdings | 123 | 23428 |
| &nbsp;&nbsp;&nbsp;Lennox International | 34 | 17170 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin | 202 | 99360 |
| &nbsp;&nbsp;&nbsp;Masco | 201 | 13017 |
| &nbsp;&nbsp;&nbsp;Nordson | 51 | 11829 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern | 213 | 60360 |
| &nbsp;&nbsp;&nbsp;Northrop Grumman | 132 | 77015 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line | 173 | 24293 |
| &nbsp;&nbsp;&nbsp;Otis Worldwide | 376 | 34878 |
| &nbsp;&nbsp;&nbsp;PACCAR | 503 | 49495 |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin | 120 | 92740 |
| &nbsp;&nbsp;&nbsp;Paychex | 304 | 35577 |
| &nbsp;&nbsp;&nbsp;Paycom Software | 47 | 8793 |

---

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

*40*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Pentair PLC <sup>(A)</sup> | 156 | $16591 |
| &nbsp;&nbsp;&nbsp;Quanta Services | 137 | 61531 |
| &nbsp;&nbsp;&nbsp;Republic Services, Cl A | 188 | 39149 |
| &nbsp;&nbsp;&nbsp;Rockwell Automation | 106 | 39046 |
| &nbsp;&nbsp;&nbsp;Rollins | 263 | 15151 |
| &nbsp;&nbsp;&nbsp;RTX | 1283 | 229016 |
| &nbsp;&nbsp;&nbsp;Snap-On | 56 | 18791 |
| &nbsp;&nbsp;&nbsp;Southwest Airlines | 502 | 15211 |
| &nbsp;&nbsp;&nbsp;Stanley Black & Decker | 141 | 9549 |
| &nbsp;&nbsp;&nbsp;Textron | 172 | 13899 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC <sup>(A)</sup> | 217 | 97357 |
| &nbsp;&nbsp;&nbsp;TransDigm Group | 55 | 71968 |
| &nbsp;&nbsp;&nbsp;Uber Technologies <sup>\*</sup> | 1999 | 192904 |
| &nbsp;&nbsp;&nbsp;Union Pacific | 563 | 124068 |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings <sup>\*</sup> | 311 | 29246 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Cl B | 696 | 67108 |
| &nbsp;&nbsp;&nbsp;United Rentals | 62 | 54013 |
| &nbsp;&nbsp;&nbsp;Veralto | 234 | 23091 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Cl A | 136 | 29751 |
| &nbsp;&nbsp;&nbsp;Wabtec | 166 | 33937 |
| &nbsp;&nbsp;&nbsp;Waste Management | 351 | 70119 |
| &nbsp;&nbsp;&nbsp;WW Grainger <sup>(A)</sup> | 41 | 40139 |
| &nbsp;&nbsp;&nbsp;Xylem | 230 | 34696 |
|  |  | 4539406 |
| Information Technology — 36.6% |  |  |
| &nbsp;&nbsp;&nbsp;Accenture PLC, Cl A <sup>(A)</sup> | 592 | 148059 |
| &nbsp;&nbsp;&nbsp;Adobe <sup>\*(A)</sup> | 411 | 139867 |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices <sup>\*(A)</sup> | 1556 | 398523 |
| &nbsp;&nbsp;&nbsp;Akamai Technologies <sup>\*(A)</sup> | 137 | 10289 |
| &nbsp;&nbsp;&nbsp;Amphenol, Cl A <sup>(A)</sup> | 1161 | 161774 |
| &nbsp;&nbsp;&nbsp;Analog Devices <sup>(A)</sup> | 475 | 111212 |
| &nbsp;&nbsp;&nbsp;Apple <sup>(A)</sup> | 14231 | 3847635 |
| &nbsp;&nbsp;&nbsp;Applied Materials <sup>(A)</sup> | 763 | 177855 |
| &nbsp;&nbsp;&nbsp;AppLovin, Cl A <sup>\*</sup> | 259 | 165068 |
| &nbsp;&nbsp;&nbsp;Arista Networks <sup>\*</sup> | 980 | 154536 |
| &nbsp;&nbsp;&nbsp;Autodesk <sup>\*(A)</sup> | 203 | 61172 |
| &nbsp;&nbsp;&nbsp;Broadcom <sup>(A)</sup> | 4510 | 1667031 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems <sup>\*(A)</sup> | 269 | 91108 |

---

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

*41*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;CDW <sup>(A)</sup> | 126 | $20081 |
| &nbsp;&nbsp;&nbsp;Cisco Systems <sup>(A)</sup> | 3797 | 277599 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions, Cl A <sup>(A)</sup> | 461 | 33598 |
| &nbsp;&nbsp;&nbsp;Corning <sup>(A)</sup> | 744 | 66276 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Cl A <sup>\*(A)</sup> | 238 | 129236 |
| &nbsp;&nbsp;&nbsp;Datadog, Cl A <sup>\*</sup> | 304 | 49494 |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Cl C | 284 | 46011 |
| &nbsp;&nbsp;&nbsp;EPAM Systems <sup>\*(A)</sup> | 52 | 8504 |
| &nbsp;&nbsp;&nbsp;F5 <sup>\*(A)</sup> | 49 | 12399 |
| &nbsp;&nbsp;&nbsp;Fair Isaac <sup>\*(A)</sup> | 23 | 38169 |
| &nbsp;&nbsp;&nbsp;First Solar <sup>\*(A)</sup> | 98 | 26160 |
| &nbsp;&nbsp;&nbsp;Fortinet <sup>\*(A)</sup> | 616 | 53241 |
| &nbsp;&nbsp;&nbsp;Gartner <sup>\*(A)</sup> | 80 | 19867 |
| &nbsp;&nbsp;&nbsp;Gen Digital | 535 | 14103 |
| &nbsp;&nbsp;&nbsp;GoDaddy, Cl A <sup>\*(A)</sup> | 134 | 17839 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise <sup>(A)</sup> | 1256 | 30672 |
| &nbsp;&nbsp;&nbsp;HP <sup>(A)</sup> | 899 | 24875 |
| &nbsp;&nbsp;&nbsp;Intel <sup>\*(A)</sup> | 4196 | 167798 |
| &nbsp;&nbsp;&nbsp;International Business Machines | 885 | 272058 |
| &nbsp;&nbsp;&nbsp;Intuit | 267 | 178236 |
| &nbsp;&nbsp;&nbsp;Jabil | 100 | 22089 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies <sup>\*</sup> | 167 | 30554 |
| &nbsp;&nbsp;&nbsp;KLA | 126 | 152301 |
| &nbsp;&nbsp;&nbsp;Lam Research | 1204 | 189582 |
| &nbsp;&nbsp;&nbsp;Microchip Technology | 507 | 31647 |
| &nbsp;&nbsp;&nbsp;Micron Technology | 1073 | 240105 |
| &nbsp;&nbsp;&nbsp;Microsoft <sup>(A)</sup> | 7128 | 3690950 |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems | 44 | 44220 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions | 164 | 66700 |
| &nbsp;&nbsp;&nbsp;NetApp | 188 | 22143 |
| &nbsp;&nbsp;&nbsp;NVIDIA <sup>(A)</sup> | 23399 | 4738064 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor <sup>\*</sup> | 382 | 19131 |
| &nbsp;&nbsp;&nbsp;Oracle | 1589 | 417287 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Cl A <sup>\*</sup> | 2181 | 437225 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks <sup>\*</sup> | 636 | 140073 |
| &nbsp;&nbsp;&nbsp;PTC <sup>\*</sup> | 112 | 22237 |
| &nbsp;&nbsp;&nbsp;QUALCOMM | 1027 | 185784 |
| &nbsp;&nbsp;&nbsp;Roper Technologies | 101 | 45061 |
| &nbsp;&nbsp;&nbsp;Salesforce | 908 | 236452 |

---

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

*42*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;Seagate Technology Holdings <sup>(A)</sup> | 206 | $52711 |
| &nbsp;&nbsp;&nbsp;ServiceNow <sup>\*</sup> | 200 | 183856 |
| &nbsp;&nbsp;&nbsp;Skyworks Solutions | 135 | 10492 |
| &nbsp;&nbsp;&nbsp;Super Micro Computer <sup>\*</sup> | 480 | 24941 |
| &nbsp;&nbsp;&nbsp;Synopsys <sup>\*</sup> | 181 | 82141 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies <sup>\*</sup> | 50 | 26341 |
| &nbsp;&nbsp;&nbsp;Teradyne | 152 | 27628 |
| &nbsp;&nbsp;&nbsp;Texas Instruments | 862 | 139179 |
| &nbsp;&nbsp;&nbsp;Trimble <sup>\*</sup> | 223 | 17784 |
| &nbsp;&nbsp;&nbsp;Tyler Technologies <sup>\*</sup> | 46 | 21908 |
| &nbsp;&nbsp;&nbsp;VeriSign | 83 | 19903 |
| &nbsp;&nbsp;&nbsp;Western Digital | 332 | 49870 |
| &nbsp;&nbsp;&nbsp;Workday, Cl A <sup>\*</sup> | 210 | 50383 |
| &nbsp;&nbsp;&nbsp;Zebra Technologies, Cl A <sup>\*</sup> | 55 | 14809 |
|  |  | 20073896 |
| Materials — 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;Air Products & Chemicals <sup>(A)</sup> | 210 | 50944 |
| &nbsp;&nbsp;&nbsp;Albemarle <sup>(A)</sup> | 112 | 11002 |
| &nbsp;&nbsp;&nbsp;Amcor PLC <sup>(A)</sup> | 2204 | 17412 |
| &nbsp;&nbsp;&nbsp;Avery Dennison <sup>(A)</sup> | 79 | 13816 |
| &nbsp;&nbsp;&nbsp;Ball <sup>(A)</sup> | 253 | 11891 |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings <sup>(A)</sup> | 154 | 12827 |
| &nbsp;&nbsp;&nbsp;Corteva <sup>(A)</sup> | 650 | 39936 |
| &nbsp;&nbsp;&nbsp;Dow <sup>(A)</sup> | 677 | 16146 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours <sup>(A)</sup> | 394 | 32170 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical <sup>(A)</sup> | 101 | 6012 |
| &nbsp;&nbsp;&nbsp;Ecolab <sup>(A)</sup> | 239 | 61280 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan <sup>(A)</sup> | 1376 | 57379 |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances | 239 | 15050 |
| &nbsp;&nbsp;&nbsp;International Paper | 505 | 19513 |
| &nbsp;&nbsp;&nbsp;Linde PLC <sup>(A)</sup> | 447 | 186980 |
| &nbsp;&nbsp;&nbsp;LyondellBasell Industries, Cl A <sup>(A)</sup> | 239 | 11094 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials | 56 | 34334 |
| &nbsp;&nbsp;&nbsp;Mosaic | 303 | 8317 |
| &nbsp;&nbsp;&nbsp;Newmont | 1053 | 85261 |
| &nbsp;&nbsp;&nbsp;Nucor | 216 | 32411 |
| &nbsp;&nbsp;&nbsp;Packaging Corp of America | 90 | 17618 |
| &nbsp;&nbsp;&nbsp;PPG Industries | 212 | 20723 |

---

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

*43*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Materials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams | 220 | $75887 |
| &nbsp;&nbsp;&nbsp;Smurfit WestRock PLC <sup>(A)</sup> | 499 | 18423 |
| &nbsp;&nbsp;&nbsp;Solstice Advanced Materials <sup>\*</sup> | 151 | 6806 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics | 133 | 20854 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials | 123 | 35608 |
|  |  | 919694 |
| Real Estate — 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities <sup>‡(A)</sup> | 141 | 8209 |
| &nbsp;&nbsp;&nbsp;American Tower <sup>‡(A)</sup> | 446 | 79825 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities <sup>‡(A)</sup> | 136 | 23653 |
| &nbsp;&nbsp;&nbsp;BXP <sup>‡(A)</sup> | 131 | 9326 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust <sup>‡(A)</sup> | 95 | 9451 |
| &nbsp;&nbsp;&nbsp;CBRE Group, Cl A <sup>\*(A)</sup> | 281 | 42833 |
| &nbsp;&nbsp;&nbsp;CoStar Group <sup>\*(A)</sup> | 400 | 27524 |
| &nbsp;&nbsp;&nbsp;Crown Castle <sup>‡(A)</sup> | 417 | 37622 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust <sup>‡(A)</sup> | 309 | 52657 |
| &nbsp;&nbsp;&nbsp;Equinix <sup>‡(A)</sup> | 95 | 80371 |
| &nbsp;&nbsp;&nbsp;Equity Residential <sup>‡(A)</sup> | 326 | 19377 |
| &nbsp;&nbsp;&nbsp;Essex Property Trust <sup>‡(A)</sup> | 68 | 17120 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage <sup>‡(A)</sup> | 208 | 27776 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust <sup>‡(A)</sup> | 75 | 7214 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties <sup>‡(A)</sup> | 663 | 11901 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts <sup>‡(A)</sup> | 610 | 9772 |
| &nbsp;&nbsp;&nbsp;Invitation Homes <sup>‡</sup> | 539 | 15173 |
| &nbsp;&nbsp;&nbsp;Iron Mountain <sup>‡</sup> | 279 | 28723 |
| &nbsp;&nbsp;&nbsp;Kimco Realty <sup>‡</sup> | 647 | 13367 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartment Communities <sup>‡</sup> | 108 | 13849 |
| &nbsp;&nbsp;&nbsp;ProLogis <sup>‡</sup> | 890 | 110440 |
| &nbsp;&nbsp;&nbsp;Public Storage <sup>‡</sup> | 150 | 41784 |
| &nbsp;&nbsp;&nbsp;Realty Income <sup>‡</sup> | 868 | 50327 |
| &nbsp;&nbsp;&nbsp;Regency Centers <sup>‡</sup> | 154 | 10618 |
| &nbsp;&nbsp;&nbsp;SBA Communications, Cl A <sup>‡</sup> | 99 | 18956 |
| &nbsp;&nbsp;&nbsp;Simon Property Group <sup>‡</sup> | 313 | 55013 |
| &nbsp;&nbsp;&nbsp;UDR <sup>‡</sup> | 288 | 9703 |
| &nbsp;&nbsp;&nbsp;Ventas <sup>‡</sup> | 433 | 31951 |
| &nbsp;&nbsp;&nbsp;VICI Properties, Cl A <sup>‡</sup> | 1021 | 30620 |
| &nbsp;&nbsp;&nbsp;Welltower <sup>‡</sup> | 641 | 116047 |

---

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

*44*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Real Estate — continued |  |  |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser <sup>‡</sup> | 690 | $15870 |
|  |  | 1027072 |
| Utilities — 2.4% |  |  |
| &nbsp;&nbsp;&nbsp;AES <sup>(A)</sup> | 679 | 9418 |
| &nbsp;&nbsp;&nbsp;Alliant Energy <sup>(A)</sup> | 240 | 16037 |
| &nbsp;&nbsp;&nbsp;Ameren <sup>(A)</sup> | 263 | 26831 |
| &nbsp;&nbsp;&nbsp;American Electric Power <sup>(A)</sup> | 505 | 60731 |
| &nbsp;&nbsp;&nbsp;American Water Works <sup>(A)</sup> | 190 | 24402 |
| &nbsp;&nbsp;&nbsp;Atmos Energy <sup>(A)</sup> | 157 | 26960 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy <sup>(A)</sup> | 625 | 23900 |
| &nbsp;&nbsp;&nbsp;CMS Energy <sup>(A)</sup> | 283 | 20815 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison <sup>(A)</sup> | 339 | 33022 |
| &nbsp;&nbsp;&nbsp;Constellation Energy <sup>(A)</sup> | 295 | 111215 |
| &nbsp;&nbsp;&nbsp;Dominion Energy <sup>(A)</sup> | 808 | 47422 |
| &nbsp;&nbsp;&nbsp;DTE Energy <sup>(A)</sup> | 203 | 27515 |
| &nbsp;&nbsp;&nbsp;Duke Energy <sup>(A)</sup> | 737 | 91609 |
| &nbsp;&nbsp;&nbsp;Edison International <sup>(A)</sup> | 359 | 19881 |
| &nbsp;&nbsp;&nbsp;Entergy <sup>(A)</sup> | 422 | 40550 |
| &nbsp;&nbsp;&nbsp;Evergy <sup>(A)</sup> | 220 | 16898 |
| &nbsp;&nbsp;&nbsp;Eversource Energy <sup>(A)</sup> | 354 | 26129 |
| &nbsp;&nbsp;&nbsp;Exelon <sup>(A)</sup> | 967 | 44598 |
| &nbsp;&nbsp;&nbsp;FirstEnergy <sup>(A)</sup> | 497 | 22777 |
| &nbsp;&nbsp;&nbsp;NextEra Energy | 1974 | 160684 |
| &nbsp;&nbsp;&nbsp;NiSource | 441 | 18570 |
| &nbsp;&nbsp;&nbsp;NRG Energy | 188 | 32310 |
| &nbsp;&nbsp;&nbsp;PG&E | 2104 | 33580 |
| &nbsp;&nbsp;&nbsp;Pinnacle West Capital | 108 | 9560 |
| &nbsp;&nbsp;&nbsp;PPL | 708 | 25856 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group | 469 | 37783 |
| &nbsp;&nbsp;&nbsp;Sempra | 618 | 56819 |
| &nbsp;&nbsp;&nbsp;Southern | 1054 | 99118 |
| &nbsp;&nbsp;&nbsp;Vistra | 300 | 56490 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group | 307 | 34301 |

---

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

*45*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Utilities — continued |  |  |
| &nbsp;&nbsp;&nbsp;Xcel Energy | 566 | $45942 |
|  |  | 1301723 |
| TOTAL UNITED STATES |  | 55758008 |
| TOTAL COMMON STOCK<br> (Cost $41,759,110) |  | 55876865 |
| TOTAL INVESTMENTS — 101.8%<br> (Cost $41,759,110) |  | $55876865 |
| **WRITTEN OPTIONS — (2.0)%** |  |  |
| &nbsp;&nbsp;&nbsp;(Premiums Received $(710447)) |  | $(1090805) |

---

*Percentages are based on Net Assets of $54,876,408.*

*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** |
| **WRITTEN OPTIONS — (2.0)%** | **WRITTEN OPTIONS — (2.0)%** |  |  |  |  |
| **Call Options** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;S&P 500 Index | (41) | $(28044820) | $6620.00 | 11/21/2025 | $(1090805) |

---

---

| | |
|:---|:---|
| *\** | *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 $36,079,841.* |

---

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

*46*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth 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* | $*55876865* | $*—* | $*—* | $*55876865* |
| *Total Investments in Securities* | $*55876865* | $*—* | $*—* | $*55876865* |
| *Other Financial Instruments* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Written Options* | $*(1090805)* | $*—* | $*—* | $*(1090805)* |
| *Total Other Financial Instruments* | $*(1090805)* | $*—* | $*—* | $*(1090805)* |

---

*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.*

*47*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** | **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 105.6%** |  |  |
| **BRAZIL — 0.6%** |  |  |
| Consumer Discretionary — 0.6% |  |  |
| &nbsp;&nbsp;&nbsp;MercadoLibre <sup>\*(A)</sup> | 47 | $109381 |
| **CANADA — 1.5%** |  |  |
| Industrials — 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;Thomson Reuters <sup>(A)</sup> | 413 | 63214 |
| Information Technology — 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;Shopify, Cl A <sup>\*(A)</sup> | 1125 | 195592 |
| TOTAL CANADA |  | 258806 |
| **CHINA — 0.5%** |  |  |
| Consumer Discretionary — 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;PDD Holdings ADR <sup>\*(A)</sup> | 613 | 82675 |
| **NETHERLANDS — 0.8%** |  |  |
| Information Technology — 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;ASML Holding <sup>(A)</sup> | 78 | 82620 |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors <sup>(A)</sup> | 231 | 48307 |
| TOTAL NETHERLANDS |  | 130927 |
| **UNITED KINGDOM — 0.6%** |  |  |
| Consumer Staples — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;Coca-Cola Europacific Partners PLC <sup>(A)</sup> | 435 | 38641 |
| Health Care — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC ADR <sup>(A)</sup> | 566 | 46639 |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;ARM Holdings PLC ADR <sup>\*(A)</sup> | 127 | 21567 |
| TOTAL UNITED KINGDOM |  | 106847 |
| **UNITED STATES — 101.6%** |  |  |
| Communication Services — 15.6% |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl A <sup>(A)</sup> | 2205 | 620024 |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl C <sup>(A)</sup> | 2058 | 579985 |
| &nbsp;&nbsp;&nbsp;Charter Communications, Cl A <sup>\*(A)</sup> | 134 | 31335 |

---

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

*48*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** | **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Communication Services — continued |  |  |
| &nbsp;&nbsp;&nbsp;Comcast, Cl A <sup>(A)</sup> | 3434 | $95585 |
| &nbsp;&nbsp;&nbsp;Electronic Arts <sup>(A)</sup> | 233 | 46614 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A <sup>(A)</sup> | 822 | 532944 |
| &nbsp;&nbsp;&nbsp;Netflix <sup>\*(A)</sup> | 396 | 443069 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software <sup>\*(A)</sup> | 174 | 44608 |
| &nbsp;&nbsp;&nbsp;T-Mobile US <sup>(A)</sup> | 1039 | 218242 |
| &nbsp;&nbsp;&nbsp;Trade Desk, Cl A <sup>\*(A)</sup> | 399 | 20062 |
| &nbsp;&nbsp;&nbsp;Warner Bros Discovery <sup>\*(A)</sup> | 2259 | 50714 |
|  |  | 2683182 |
| Consumer Discretionary — 12.8% |  |  |
| &nbsp;&nbsp;&nbsp;Airbnb, Cl A <sup>\*(A)</sup> | 408 | 51628 |
| &nbsp;&nbsp;&nbsp;Amazon.com <sup>\*(A)</sup> | 4042 | 987137 |
| &nbsp;&nbsp;&nbsp;Booking Holdings <sup>(A)</sup> | 30 | 152332 |
| &nbsp;&nbsp;&nbsp;DoorDash, Cl A <sup>\*(A)</sup> | 376 | 95643 |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica <sup>\*(A)</sup> | 103 | 17566 |
| &nbsp;&nbsp;&nbsp;Marriott International, Cl A <sup>(A)</sup> | 253 | 65927 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive <sup>\*(A)</sup> | 779 | 73569 |
| &nbsp;&nbsp;&nbsp;Ross Stores <sup>(A)</sup> | 298 | 47358 |
| &nbsp;&nbsp;&nbsp;Starbucks <sup>(A)</sup> | 1045 | 84509 |
| &nbsp;&nbsp;&nbsp;Tesla <sup>\*(A)</sup> | 1381 | 630510 |
|  |  | 2206179 |
| Consumer Staples — 4.4% |  |  |
| &nbsp;&nbsp;&nbsp;Costco Wholesale <sup>(A)</sup> | 414 | 377340 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper <sup>(A)</sup> | 1267 | 34412 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz <sup>(A)</sup> | 1072 | 26511 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Cl A <sup>(A)</sup> | 1207 | 69354 |
| &nbsp;&nbsp;&nbsp;Monster Beverage <sup>\*(A)</sup> | 910 | 60815 |
| &nbsp;&nbsp;&nbsp;PepsiCo <sup>(A)</sup> | 1262 | 184366 |
|  |  | 752798 |
| Energy — 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;Baker Hughes, Cl A <sup>(A)</sup> | 958 | 46377 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy <sup>(A)</sup> | 274 | 39234 |
|  |  | 85611 |
| Financials — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;PayPal Holdings <sup>\*(A)</sup> | 875 | 60611 |

---

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

*49*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** | **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — 4.3% |  |  |
| &nbsp;&nbsp;&nbsp;Amgen <sup>(A)</sup> | 502 | $149812 |
| &nbsp;&nbsp;&nbsp;Biogen <sup>\*(A)</sup> | 141 | 21752 |
| &nbsp;&nbsp;&nbsp;Dexcom <sup>\*(A)</sup> | 354 | 20610 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies <sup>(A)</sup> | 433 | 32453 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences <sup>(A)</sup> | 1157 | 138597 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories <sup>\*(A)</sup> | 75 | 47213 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical <sup>\*(A)</sup> | 334 | 178450 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals <sup>(A)</sup> | 95 | 61921 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals <sup>\*(A)</sup> | 236 | 100435 |
|  |  | 751243 |
| Industrials — 3.7% |  |  |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing <sup>(A)</sup> | 378 | 98393 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise <sup>\*(A)</sup> | 72 | 52721 |
| &nbsp;&nbsp;&nbsp;Cintas <sup>(A)</sup> | 381 | 69826 |
| &nbsp;&nbsp;&nbsp;Copart <sup>\*(A)</sup> | 933 | 40128 |
| &nbsp;&nbsp;&nbsp;CSX <sup>(A)</sup> | 1781 | 64152 |
| &nbsp;&nbsp;&nbsp;Fastenal <sup>(A)</sup> | 1070 | 44030 |
| &nbsp;&nbsp;&nbsp;Honeywell International <sup>(A)</sup> | 592 | 119187 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line <sup>(A)</sup> | 199 | 27944 |
| &nbsp;&nbsp;&nbsp;PACCAR <sup>(A)</sup> | 496 | 48806 |
| &nbsp;&nbsp;&nbsp;Paychex <sup>(A)</sup> | 328 | 38386 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Cl A <sup>(A)</sup> | 127 | 27783 |
|  |  | 631356 |
| Information Technology — 57.2% |  |  |
| &nbsp;&nbsp;&nbsp;Adobe <sup>\*(A)</sup> | 396 | 134763 |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices <sup>\*(A)</sup> | 1513 | 387510 |
| &nbsp;&nbsp;&nbsp;Analog Devices <sup>(A)</sup> | 459 | 107466 |
| &nbsp;&nbsp;&nbsp;Apple <sup>(A)</sup> | 5625 | 1520831 |
| &nbsp;&nbsp;&nbsp;Applied Materials <sup>(A)</sup> | 743 | 173193 |
| &nbsp;&nbsp;&nbsp;AppLovin, Cl A <sup>\*(A)</sup> | 287 | 182914 |
| &nbsp;&nbsp;&nbsp;Atlassian, Cl A <sup>\*(A)</sup> | 150 | 25413 |
| &nbsp;&nbsp;&nbsp;Autodesk <sup>\*(A)</sup> | 202 | 60871 |
| &nbsp;&nbsp;&nbsp;Broadcom <sup>(A)</sup> | 2948 | 1089669 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems <sup>\*(A)</sup> | 254 | 86027 |
| &nbsp;&nbsp;&nbsp;CDW <sup>(A)</sup> | 130 | 20718 |
| &nbsp;&nbsp;&nbsp;Cisco Systems <sup>(A)</sup> | 3693 | 269995 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions, Cl A <sup>(A)</sup> | 468 | 34108 |

---

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

*50*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** | **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Cl A <sup>\*(A)</sup> | 234 | $127064 |
| &nbsp;&nbsp;&nbsp;Datadog, Cl A <sup>\*(A)</sup> | 301 | 49006 |
| &nbsp;&nbsp;&nbsp;Fortinet <sup>\*(A)</sup> | 715 | 61797 |
| &nbsp;&nbsp;&nbsp;GLOBALFOUNDRIES <sup>\*(A)</sup> | 525 | 18690 |
| &nbsp;&nbsp;&nbsp;Intel <sup>\*(A)</sup> | 4081 | 163199 |
| &nbsp;&nbsp;&nbsp;Intuit <sup>(A)</sup> | 260 | 173563 |
| &nbsp;&nbsp;&nbsp;KLA <sup>(A)</sup> | 123 | 148675 |
| &nbsp;&nbsp;&nbsp;Lam Research <sup>(A)</sup> | 1180 | 185803 |
| &nbsp;&nbsp;&nbsp;Marvell Technology <sup>(A)</sup> | 804 | 75367 |
| &nbsp;&nbsp;&nbsp;Microchip Technology <sup>(A)</sup> | 509 | 31772 |
| &nbsp;&nbsp;&nbsp;Micron Technology <sup>(A)</sup> | 1044 | 233616 |
| &nbsp;&nbsp;&nbsp;Microsoft <sup>(A)</sup> | 2817 | 1458671 |
| &nbsp;&nbsp;&nbsp;NVIDIA <sup>(A)</sup> | 9210 | 1864933 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor <sup>\*(A)</sup> | 367 | 18379 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Cl A <sup>\*(A)</sup> | 2121 | 425197 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks <sup>\*(A)</sup> | 616 | 135668 |
| &nbsp;&nbsp;&nbsp;QUALCOMM <sup>(A)</sup> | 995 | 179995 |
| &nbsp;&nbsp;&nbsp;Roper Technologies <sup>(A)</sup> | 98 | 43723 |
| &nbsp;&nbsp;&nbsp;Strategy, Cl A <sup>\*(A)</sup> | 243 | 65491 |
| &nbsp;&nbsp;&nbsp;Synopsys <sup>\*(A)</sup> | 170 | 77149 |
| &nbsp;&nbsp;&nbsp;Texas Instruments <sup>(A)</sup> | 838 | 135303 |
| &nbsp;&nbsp;&nbsp;Workday, Cl A <sup>\*(A)</sup> | 204 | 48944 |
| &nbsp;&nbsp;&nbsp;Zscaler <sup>\*(A)</sup> | 142 | 47022 |
|  |  | 9862505 |
| Materials — 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;Linde PLC <sup>(A)</sup> | 437 | 182797 |
| &nbsp;&nbsp;&nbsp;Solstice Advanced Materials <sup>\*</sup> | 148 | 6670 |
|  |  | 189467 |
| Real Estate — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;CoStar Group <sup>\*(A)</sup> | 406 | 27937 |
| Utilities — 1.5% |  |  |
| &nbsp;&nbsp;&nbsp;American Electric Power <sup>(A)</sup> | 505 | 60731 |
| &nbsp;&nbsp;&nbsp;Constellation Energy <sup>(A)</sup> | 291 | 109707 |
| &nbsp;&nbsp;&nbsp;Exelon <sup>(A)</sup> | 942 | 43445 |

---

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

*51*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** | **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Utilities — continued |  |  |
| &nbsp;&nbsp;&nbsp;Xcel Energy <sup>(A)</sup> | 547 | $44400 |
|  |  | 258283 |
| TOTAL UNITED STATES |  | 17509172 |
| TOTAL COMMON STOCK <br> (Cost $10,903,240) |  | 18197808 |
| **PURCHASED OPTIONS — 0.2%** <br> (Cost $225,512) |  | 34141 |
| TOTAL INVESTMENTS — 105.8% <br> (Cost $11,128,752) |  | $18231949 |
| **WRITTEN OPTIONS — (5.9)%** |  |  |
| &nbsp;&nbsp;&nbsp;(Premiums Received $(586399)) |  | $(1018468) |

---

*Percentages are based on Net Assets of $17,231,360.*

*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 — 0.2%** |  |  |  |  |  |
| **Put Options** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Nasdaq-100 | 6 | $15514878 | $23375.00 | 11/21/2025 | $29040 |
| &nbsp;&nbsp;&nbsp;Nasdaq-100 Micro Index | 101 | 2611658 | 234.00 | 11/21/2025 | 5101 |
| Total Purchased Options |  | $18126536 |  |  | $34141 |
| **WRITTEN OPTIONS — (5.9)%** |  |  |  |  |  |
| **Call Options** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Nasdaq-100 | (6) | $(15514878) | $24600.00 | 11/21/2025 | $(871260) |
| Nasdaq-100 Micro Index | (101) | (2611658) | 246.00 | 11/21/2025 | (147208) |
| &nbsp;&nbsp;&nbsp;Total Written Options |  | $(18126536) |  |  | $(1018468) |

---

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

*52*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** | **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** |

---

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

*(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 $18,177,087.*

*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* | $*18197808* | $*—* | $*—* | $*18197808* |
| &nbsp;&nbsp;&nbsp;*Purchased Options* | *34141* | *—* | *—* | *34141* |
| *Total Investments in Securities* | $*18231949* | $*—* | $*—* | $*18231949* |
| *Other Financial Instruments* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Written Options* | $*(1018468)* | $*—* | $*—* | $*(1018468)* |
| *Total Other Financial Instruments* | $*(1018468)* | $*—* | $*—* | $*(1018468)* |

---

*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.*

*53*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Risk Managed Income ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 103.8%** | | |
| **NETHERLANDS — 0.1%** | | |
| Information Technology — 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors <sup>(A)</sup> | 200 | $41824 |
| **SWITZERLAND — 0.2%** |  |  |
| Information Technology — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;TE Connectivity PLC <sup>(A)</sup> | 225 | 55577 |
| **UNITED STATES — 103.5%** |  |  |
| Communication Services — 10.5% |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl A <sup>(A)</sup> | 4499 | 1265074 |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl C <sup>(A)</sup> | 3611 | 1017652 |
| &nbsp;&nbsp;&nbsp;AT&T <sup>(A)</sup> | 5476 | 135531 |
| &nbsp;&nbsp;&nbsp;Charter Communications, Cl A <sup>\*(A)</sup> | 73 | 17070 |
| &nbsp;&nbsp;&nbsp;Comcast, Cl A <sup>(A)</sup> | 2848 | 79274 |
| &nbsp;&nbsp;&nbsp;Electronic Arts <sup>(A)</sup> | 177 | 35411 |
| &nbsp;&nbsp;&nbsp;Fox, Cl A <sup>(A)</sup> | 128 | 8275 |
| &nbsp;&nbsp;&nbsp;Fox, Cl B <sup>(A)</sup> | 97 | 5666 |
| &nbsp;&nbsp;&nbsp;Interpublic Group <sup>(A)</sup> | 283 | 7262 |
| &nbsp;&nbsp;&nbsp;Live Nation Entertainment <sup>\*(A)</sup> | 114 | 17046 |
| &nbsp;&nbsp;&nbsp;Match Group <sup>(A)</sup> | 159 | 5142 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A <sup>(A)</sup> | 1677 | 1087283 |
| &nbsp;&nbsp;&nbsp;Netflix <sup>\*(A)</sup> | 329 | 368105 |
| &nbsp;&nbsp;&nbsp;News, Cl A <sup>(A)</sup> | 275 | 7287 |
| &nbsp;&nbsp;&nbsp;News, Cl B <sup>(A)</sup> | 62 | 1889 |
| &nbsp;&nbsp;&nbsp;Omnicom Group <sup>(A)</sup> | 162 | 12153 |
| &nbsp;&nbsp;&nbsp;Paramount Skydance Corp, Cl B <sup>(A)</sup> | 151 | 2324 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software <sup>\*(A)</sup> | 128 | 32815 |
| &nbsp;&nbsp;&nbsp;TKO Group Holdings, Cl A <sup>(A)</sup> | 57 | 10739 |
| &nbsp;&nbsp;&nbsp;T-Mobile US <sup>(A)</sup> | 380 | 79819 |
| &nbsp;&nbsp;&nbsp;Trade Desk, Cl A <sup>\*(A)</sup> | 371 | 18654 |
| &nbsp;&nbsp;&nbsp;Verizon Communications <sup>(A)</sup> | 3228 | 128281 |
| &nbsp;&nbsp;&nbsp;Walt Disney <sup>(A)</sup> | 1377 | 155078 |
| &nbsp;&nbsp;&nbsp;Warner Bros Discovery <sup>\*(A)</sup> | 1866 | 41892 |
|  |  | 4539722 |
| Consumer Discretionary — 10.9% |  |  |
| &nbsp;&nbsp;&nbsp;Airbnb, Cl A <sup>\*(A)</sup> | 332 | 42011 |
| &nbsp;&nbsp;&nbsp;Amazon.com <sup>\*(A)</sup> | 7505 | 1832871 |

---

*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> Risk Managed Income ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;APTIV PLC <sup>\*(A)</sup> | 168 | $13625 |
| &nbsp;&nbsp;&nbsp;AutoZone <sup>\*(A)</sup> | 13 | 47768 |
| &nbsp;&nbsp;&nbsp;Best Buy <sup>(A)</sup> | 154 | 12650 |
| &nbsp;&nbsp;&nbsp;Booking Holdings <sup>(A)</sup> | 25 | 126943 |
| &nbsp;&nbsp;&nbsp;Carnival <sup>\*(A)</sup> | 840 | 24217 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Cl A <sup>\*(A)</sup> | 1037 | 32862 |
| &nbsp;&nbsp;&nbsp;Darden Restaurants <sup>(A)</sup> | 88 | 15853 |
| &nbsp;&nbsp;&nbsp;Deckers Outdoor <sup>\*(A)</sup> | 111 | 9046 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza <sup>(A)</sup> | 23 | 9165 |
| &nbsp;&nbsp;&nbsp;DoorDash, Cl A <sup>\*(A)</sup> | 279 | 70969 |
| &nbsp;&nbsp;&nbsp;DR Horton <sup>(A)</sup> | 211 | 31456 |
| &nbsp;&nbsp;&nbsp;eBay <sup>(A)</sup> | 356 | 28946 |
| &nbsp;&nbsp;&nbsp;Expedia Group <sup>(A)</sup> | 89 | 19580 |
| &nbsp;&nbsp;&nbsp;Ford Motor <sup>(A)</sup> | 2965 | 38930 |
| &nbsp;&nbsp;&nbsp;Garmin <sup>(A)</sup> | 123 | 26315 |
| &nbsp;&nbsp;&nbsp;General Motors <sup>(A)</sup> | 724 | 50021 |
| &nbsp;&nbsp;&nbsp;Genuine Parts <sup>(A)</sup> | 113 | 14386 |
| &nbsp;&nbsp;&nbsp;Hasbro <sup>(A)</sup> | 110 | 8394 |
| &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings <sup>(A)</sup> | 188 | 48308 |
| &nbsp;&nbsp;&nbsp;Home Depot <sup>(A)</sup> | 770 | 292284 |
| &nbsp;&nbsp;&nbsp;Las Vegas Sands <sup>(A)</sup> | 246 | 14600 |
| &nbsp;&nbsp;&nbsp;Lennar, Cl A <sup>(A)</sup> | 171 | 21165 |
| &nbsp;&nbsp;&nbsp;LKQ <sup>(A)</sup> | 183 | 5849 |
| &nbsp;&nbsp;&nbsp;Lowe's <sup>(A)</sup> | 429 | 102158 |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica <sup>\*(A)</sup> | 90 | 15349 |
| &nbsp;&nbsp;&nbsp;Marriott International, Cl A <sup>(A)</sup> | 179 | 46644 |
| &nbsp;&nbsp;&nbsp;McDonald's <sup>(A)</sup> | 547 | 163241 |
| &nbsp;&nbsp;&nbsp;MGM Resorts International <sup>\*(A)</sup> | 158 | 5061 |
| &nbsp;&nbsp;&nbsp;Mohawk Industries <sup>\*(A)</sup> | 43 | 4886 |
| &nbsp;&nbsp;&nbsp;NIKE, Cl B <sup>(A)</sup> | 906 | 58519 |
| &nbsp;&nbsp;&nbsp;Norwegian Cruise Line Holdings <sup>\*(A)</sup> | 330 | 7399 |
| &nbsp;&nbsp;&nbsp;NVR <sup>\*(A)</sup> | 2 | 14422 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive <sup>\*(A)</sup> | 647 | 61103 |
| &nbsp;&nbsp;&nbsp;Pool <sup>(A)</sup> | 31 | 8279 |
| &nbsp;&nbsp;&nbsp;PulteGroup <sup>(A)</sup> | 165 | 19779 |
| &nbsp;&nbsp;&nbsp;Ralph Lauren, Cl A <sup>(A)</sup> | 32 | 10229 |
| &nbsp;&nbsp;&nbsp;Ross Stores <sup>(A)</sup> | 253 | 40207 |
| &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises <sup>(A)</sup> | 199 | 57079 |
| &nbsp;&nbsp;&nbsp;Starbucks <sup>(A)</sup> | 867 | 70114 |

---

*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> Risk Managed Income ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Discretionary — continued |  |  |
| &nbsp;&nbsp;&nbsp;Tapestry <sup>(A)</sup> | 167 | $18340 |
| &nbsp;&nbsp;&nbsp;Tesla <sup>\*(A)</sup> | 2170 | 990735 |
| &nbsp;&nbsp;&nbsp;TJX <sup>(A)</sup> | 853 | 119539 |
| &nbsp;&nbsp;&nbsp;Tractor Supply <sup>(A)</sup> | 399 | 21590 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty <sup>\*(A)</sup> | 34 | 17676 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma <sup>(A)</sup> | 93 | 18074 |
| &nbsp;&nbsp;&nbsp;Wynn Resorts <sup>(A)</sup> | 68 | 8091 |
| &nbsp;&nbsp;&nbsp;Yum! Brands <sup>(A)</sup> | 211 | 29162 |
|  |  | 4745890 |
| Consumer Staples — 4.9% |  |  |
| &nbsp;&nbsp;&nbsp;Altria Group <sup>(A)</sup> | 1284 | 72392 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland <sup>(A)</sup> | 397 | 24030 |
| &nbsp;&nbsp;&nbsp;Brown-Forman, Cl B <sup>(A)</sup> | 136 | 3703 |
| &nbsp;&nbsp;&nbsp;Bunge Global <sup>(A)</sup> | 109 | 10311 |
| &nbsp;&nbsp;&nbsp;Church & Dwight <sup>(A)</sup> | 204 | 17889 |
| &nbsp;&nbsp;&nbsp;Clorox <sup>(A)</sup> | 103 | 11583 |
| &nbsp;&nbsp;&nbsp;Coca-Cola <sup>(A)</sup> | 2968 | 204495 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive <sup>(A)</sup> | 625 | 48156 |
| &nbsp;&nbsp;&nbsp;Conagra Brands <sup>(A)</sup> | 376 | 6464 |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Cl A <sup>(A)</sup> | 120 | 15766 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale <sup>(A)</sup> | 343 | 312627 |
| &nbsp;&nbsp;&nbsp;Dollar General <sup>(A)</sup> | 180 | 17759 |
| &nbsp;&nbsp;&nbsp;Dollar Tree <sup>\*(A)</sup> | 148 | 14670 |
| &nbsp;&nbsp;&nbsp;Estee Lauder, Cl A <sup>(A)</sup> | 189 | 18274 |
| &nbsp;&nbsp;&nbsp;General Mills <sup>(A)</sup> | 402 | 18737 |
| &nbsp;&nbsp;&nbsp;Hershey <sup>(A)</sup> | 124 | 21034 |
| &nbsp;&nbsp;&nbsp;Hormel Foods <sup>(A)</sup> | 206 | 4448 |
| &nbsp;&nbsp;&nbsp;J M Smucker <sup>(A)</sup> | 89 | 9216 |
| &nbsp;&nbsp;&nbsp;Kellanova <sup>(A)</sup> | 207 | 17193 |
| &nbsp;&nbsp;&nbsp;Kenvue <sup>(A)</sup> | 1465 | 21052 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper <sup>(A)</sup> | 1045 | 28382 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark <sup>(A)</sup> | 254 | 30406 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz <sup>(A)</sup> | 638 | 15778 |
| &nbsp;&nbsp;&nbsp;Kroger <sup>(A)</sup> | 492 | 31306 |
| &nbsp;&nbsp;&nbsp;Lamb Weston Holdings <sup>(A)</sup> | 118 | 7284 |
| &nbsp;&nbsp;&nbsp;McCormick <sup>(A)</sup> | 191 | 12255 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage, Cl B <sup>(A)</sup> | 130 | 5684 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Cl A <sup>(A)</sup> | 987 | 56713 |

---

*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> Risk Managed Income ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Consumer Staples — continued |  |  |
| &nbsp;&nbsp;&nbsp;Monster Beverage <sup>\*(A)</sup> | 540 | $36088 |
| &nbsp;&nbsp;&nbsp;PepsiCo <sup>(A)</sup> | 1049 | 153248 |
| &nbsp;&nbsp;&nbsp;Philip Morris International <sup>(A)</sup> | 1193 | 172186 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble <sup>(A)</sup> | 1812 | 272471 |
| &nbsp;&nbsp;&nbsp;Sysco <sup>(A)</sup> | 365 | 27112 |
| &nbsp;&nbsp;&nbsp;Target <sup>(A)</sup> | 352 | 32638 |
| &nbsp;&nbsp;&nbsp;The Campbell's Company <sup>(A)</sup> | 138 | 4158 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Cl A <sup>(A)</sup> | 203 | 10436 |
| &nbsp;&nbsp;&nbsp;Walmart <sup>(A)</sup> | 3394 | 343405 |
|  |  | 2109349 |
| Energy — 2.9% |  |  |
| &nbsp;&nbsp;&nbsp;APA <sup>(A)</sup> | 277 | 6274 |
| &nbsp;&nbsp;&nbsp;Baker Hughes, Cl A <sup>(A)</sup> | 763 | 36937 |
| &nbsp;&nbsp;&nbsp;Chevron <sup>(A)</sup> | 1475 | 232637 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips <sup>(A)</sup> | 954 | 84772 |
| &nbsp;&nbsp;&nbsp;Coterra Energy <sup>(A)</sup> | 619 | 14646 |
| &nbsp;&nbsp;&nbsp;Devon Energy <sup>(A)</sup> | 473 | 15368 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy <sup>(A)</sup> | 152 | 21765 |
| &nbsp;&nbsp;&nbsp;EOG Resources <sup>(A)</sup> | 436 | 46146 |
| &nbsp;&nbsp;&nbsp;EQT <sup>(A)</sup> | 508 | 27219 |
| &nbsp;&nbsp;&nbsp;Expand Energy <sup>(A)</sup> | 172 | 17769 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil <sup>(A)</sup> | 3296 | 376931 |
| &nbsp;&nbsp;&nbsp;Halliburton <sup>(A)</sup> | 611 | 16399 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan <sup>(A)</sup> | 1486 | 38918 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum <sup>(A)</sup> | 231 | 45024 |
| &nbsp;&nbsp;&nbsp;Occidental Petroleum <sup>(A)</sup> | 577 | 23772 |
| &nbsp;&nbsp;&nbsp;ONEOK <sup>(A)</sup> | 479 | 32093 |
| &nbsp;&nbsp;&nbsp;Phillips 66 <sup>(A)</sup> | 307 | 41795 |
| &nbsp;&nbsp;&nbsp;SLB LTD <sup>(A)</sup> | 1133 | 40856 |
| &nbsp;&nbsp;&nbsp;Targa Resources <sup>(A)</sup> | 162 | 24955 |
| &nbsp;&nbsp;&nbsp;Texas Pacific Land <sup>(A)</sup> | 16 | 15094 |
| &nbsp;&nbsp;&nbsp;Valero Energy <sup>(A)</sup> | 239 | 40525 |
| &nbsp;&nbsp;&nbsp;Williams <sup>(A)</sup> | 930 | 53819 |
|  |  | 1253714 |
| Financials — 13.3% |  |  |
| &nbsp;&nbsp;&nbsp;Aflac (A) | 388 | 41590 |
| &nbsp;&nbsp;&nbsp;Allstate <sup>(A)</sup> | 204 | 39070 |

---

*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> Risk Managed Income ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;American Express <sup>(A)</sup> | 419 | $151146 |
| &nbsp;&nbsp;&nbsp;American International Group <sup>(A)</sup> | 428 | 33795 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial <sup>(A)</sup> | 73 | 33052 |
| &nbsp;&nbsp;&nbsp;Aon PLC, Cl A <sup>(A)</sup> | 170 | 57916 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management <sup>(A)</sup> | 363 | 45125 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group <sup>(A)</sup> | 288 | 24857 |
| &nbsp;&nbsp;&nbsp;Arthur J Gallagher <sup>(A)</sup> | 198 | 49399 |
| &nbsp;&nbsp;&nbsp;Assurant <sup>(A)</sup> | 39 | 8257 |
| &nbsp;&nbsp;&nbsp;Bank of America <sup>(A)</sup> | 5269 | 281628 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon <sup>(A)</sup> | 546 | 58930 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Cl B <sup>\*(A)</sup> | 1418 | 677152 |
| &nbsp;&nbsp;&nbsp;BlackRock Funding <sup>(A)</sup> | 112 | 121275 |
| &nbsp;&nbsp;&nbsp;Blackstone <sup>(A)</sup> | 575 | 84318 |
| &nbsp;&nbsp;&nbsp;Block, Cl A <sup>\*(A)</sup> | 416 | 31591 |
| &nbsp;&nbsp;&nbsp;Brown & Brown <sup>(A)</sup> | 227 | 18101 |
| &nbsp;&nbsp;&nbsp;Capital One Financial <sup>(A)</sup> | 495 | 108895 |
| &nbsp;&nbsp;&nbsp;Cboe Global Markets <sup>(A)</sup> | 87 | 21371 |
| &nbsp;&nbsp;&nbsp;Charles Schwab <sup>(A)</sup> | 1306 | 123443 |
| &nbsp;&nbsp;&nbsp;Chubb <sup>(A)</sup> | 287 | 79482 |
| &nbsp;&nbsp;&nbsp;Cincinnati Financial <sup>(A)</sup> | 125 | 19324 |
| &nbsp;&nbsp;&nbsp;Citigroup <sup>(A)</sup> | 1423 | 144050 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group <sup>(A)</sup> | 343 | 17448 |
| &nbsp;&nbsp;&nbsp;CME Group, Cl A <sup>(A)</sup> | 279 | 74072 |
| &nbsp;&nbsp;&nbsp;Coinbase Global, Cl A <sup>\*(A)</sup> | 175 | 60161 |
| &nbsp;&nbsp;&nbsp;Corpay <sup>\*(A)</sup> | 53 | 13799 |
| &nbsp;&nbsp;&nbsp;Erie Indemnity, Cl A <sup>(A)</sup> | 17 | 4975 |
| &nbsp;&nbsp;&nbsp;Everest Group <sup>(A)</sup> | 36 | 11323 |
| &nbsp;&nbsp;&nbsp;FactSet Research Systems <sup>(A)</sup> | 34 | 9071 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services <sup>(A)</sup> | 397 | 24820 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp <sup>(A)</sup> | 528 | 21975 |
| &nbsp;&nbsp;&nbsp;Fiserv <sup>\*(A)</sup> | 414 | 27610 |
| &nbsp;&nbsp;&nbsp;Franklin Resources <sup>(A)</sup> | 277 | 6263 |
| &nbsp;&nbsp;&nbsp;Global Payments <sup>(A)</sup> | 185 | 14386 |
| &nbsp;&nbsp;&nbsp;Globe Life <sup>(A)</sup> | 69 | 9074 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group <sup>(A)</sup> | 232 | 183134 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group <sup>(A)</sup> | 215 | 26699 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares <sup>(A)</sup> | 1133 | 17494 |
| &nbsp;&nbsp;&nbsp;Interactive Brokers Group, Cl A <sup>(A)</sup> | 348 | 24485 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange <sup>(A)</sup> | 437 | 63929 |

---

*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> Risk Managed Income ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Financials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Invesco <sup>(A)</sup> | 359 | $8508 |
| &nbsp;&nbsp;&nbsp;Jack Henry & Associates <sup>(A)</sup> | 58 | 8639 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase <sup>(A)</sup> | 2126 | 661441 |
| &nbsp;&nbsp;&nbsp;KeyCorp <sup>(A)</sup> | 693 | 12190 |
| &nbsp;&nbsp;&nbsp;KKR <sup>(A)</sup> | 524 | 62005 |
| &nbsp;&nbsp;&nbsp;Loews <sup>(A)</sup> | 139 | 13839 |
| &nbsp;&nbsp;&nbsp;M&T Bank <sup>(A)</sup> | 118 | 21697 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan <sup>(A)</sup> | 375 | 66806 |
| &nbsp;&nbsp;&nbsp;Mastercard, Cl A <sup>(A)</sup> | 638 | 352170 |
| &nbsp;&nbsp;&nbsp;MetLife <sup>(A)</sup> | 448 | 35759 |
| &nbsp;&nbsp;&nbsp;Moody's <sup>(A)</sup> | 118 | 56675 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley <sup>(A)</sup> | 929 | 152356 |
| &nbsp;&nbsp;&nbsp;MSCI, Cl A <sup>(A)</sup> | 59 | 34724 |
| &nbsp;&nbsp;&nbsp;Nasdaq <sup>(A)</sup> | 351 | 30007 |
| &nbsp;&nbsp;&nbsp;Northern Trust <sup>(A)</sup> | 146 | 18786 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings <sup>\*(A)</sup> | 727 | 50359 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group <sup>(A)</sup> | 301 | 54948 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group <sup>(A)</sup> | 177 | 14875 |
| &nbsp;&nbsp;&nbsp;Progressive <sup>(A)</sup> | 448 | 92288 |
| &nbsp;&nbsp;&nbsp;Prudential Financial <sup>(A)</sup> | 270 | 28080 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial <sup>(A)</sup> | 133 | 21103 |
| &nbsp;&nbsp;&nbsp;Regions Financial <sup>(A)</sup> | 700 | 16940 |
| &nbsp;&nbsp;&nbsp;Robinhood Markets, Cl A <sup>\*(A)</sup> | 591 | 86747 |
| &nbsp;&nbsp;&nbsp;S&P Global <sup>(A)</sup> | 239 | 116443 |
| &nbsp;&nbsp;&nbsp;State Street <sup>(A)</sup> | 217 | 25098 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial <sup>(A)</sup> | 303 | 22537 |
| &nbsp;&nbsp;&nbsp;T Rowe Price Group <sup>(A)</sup> | 167 | 17122 |
| &nbsp;&nbsp;&nbsp;Travelers <sup>(A)</sup> | 178 | 47814 |
| &nbsp;&nbsp;&nbsp;Truist Financial <sup>(A)</sup> | 981 | 43782 |
| &nbsp;&nbsp;&nbsp;US Bancorp <sup>(A)</sup> | 1186 | 55362 |
| &nbsp;&nbsp;&nbsp;Visa, Cl A <sup>(A)</sup> | 1314 | 447732 |
| &nbsp;&nbsp;&nbsp;W R Berkley <sup>(A)</sup> | 219 | 15623 |
| &nbsp;&nbsp;&nbsp;Wells Fargo <sup>(A)</sup> | 2455 | 213511 |
| &nbsp;&nbsp;&nbsp;Willis Towers Watson PLC <sup>(A)</sup> | 77 | 24109 |
|  |  | 5794560 |
| Health Care — 9.3% |  |  |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories <sup>(A)</sup> | 1345 | 166269 |
| &nbsp;&nbsp;&nbsp;AbbVie <sup>(A)</sup> | 1366 | 297843 |

---

*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> Risk Managed Income ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Agilent Technologies <sup>(A)</sup> | 224 | $32785 |
| &nbsp;&nbsp;&nbsp;Align Technology <sup>\*(A)</sup> | 52 | 7170 |
| &nbsp;&nbsp;&nbsp;Amgen <sup>(A)</sup> | 416 | 124147 |
| &nbsp;&nbsp;&nbsp;Baxter International <sup>(A)</sup> | 400 | 7388 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson <sup>(A)</sup> | 222 | 39674 |
| &nbsp;&nbsp;&nbsp;Biogen <sup>\*(A)</sup> | 114 | 17587 |
| &nbsp;&nbsp;&nbsp;Bio-Techne <sup>(A)</sup> | 122 | 7634 |
| &nbsp;&nbsp;&nbsp;Boston Scientific <sup>\*(A)</sup> | 1146 | 115425 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb <sup>(A)</sup> | 1575 | 72560 |
| &nbsp;&nbsp;&nbsp;Cardinal Health <sup>(A)</sup> | 184 | 35102 |
| &nbsp;&nbsp;&nbsp;Cencora <sup>(A)</sup> | 150 | 50671 |
| &nbsp;&nbsp;&nbsp;Centene <sup>\*(A)</sup> | 361 | 12769 |
| &nbsp;&nbsp;&nbsp;Charles River Laboratories International <sup>\*(A)</sup> | 41 | 7383 |
| &nbsp;&nbsp;&nbsp;Cigna Group <sup>(A)</sup> | 206 | 50348 |
| &nbsp;&nbsp;&nbsp;Cooper <sup>\*(A)</sup> | 160 | 11186 |
| &nbsp;&nbsp;&nbsp;CVS Health <sup>(A)</sup> | 968 | 75649 |
| &nbsp;&nbsp;&nbsp;Danaher <sup>(A)</sup> | 487 | 104890 |
| &nbsp;&nbsp;&nbsp;DaVita <sup>\*(A)</sup> | 30 | 3571 |
| &nbsp;&nbsp;&nbsp;Dexcom <sup>\*(A)</sup> | 315 | 18339 |
| &nbsp;&nbsp;&nbsp;Edwards Lifesciences <sup>\*(A)</sup> | 448 | 36938 |
| &nbsp;&nbsp;&nbsp;Elevance Health <sup>(A)</sup> | 178 | 56462 |
| &nbsp;&nbsp;&nbsp;Eli Lilly <sup>(A)</sup> | 614 | 529796 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies <sup>(A)</sup> | 345 | 25858 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences <sup>(A)</sup> | 949 | 113681 |
| &nbsp;&nbsp;&nbsp;HCA Healthcare <sup>(A)</sup> | 124 | 57000 |
| &nbsp;&nbsp;&nbsp;Henry Schein <sup>\*(A)</sup> | 73 | 4614 |
| &nbsp;&nbsp;&nbsp;Hologic <sup>\*(A)</sup> | 178 | 13156 |
| &nbsp;&nbsp;&nbsp;Humana <sup>(A)</sup> | 94 | 26150 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories <sup>\*(A)</sup> | 61 | 38400 |
| &nbsp;&nbsp;&nbsp;Incyte <sup>\*(A)</sup> | 121 | 11311 |
| &nbsp;&nbsp;&nbsp;Insulet <sup>\*(A)</sup> | 53 | 16589 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical <sup>\*(A)</sup> | 274 | 146393 |
| &nbsp;&nbsp;&nbsp;IQVIA Holdings <sup>\*(A)</sup> | 131 | 28356 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson <sup>(A)</sup> | 1862 | 351676 |
| &nbsp;&nbsp;&nbsp;Labcorp Holdings <sup>(A)</sup> | 63 | 15999 |
| &nbsp;&nbsp;&nbsp;McKesson <sup>(A)</sup> | 95 | 77077 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC <sup>(A)</sup> | 979 | 88795 |
| &nbsp;&nbsp;&nbsp;Merck <sup>(A)</sup> | 1913 | 164480 |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International <sup>\*(A)</sup> | 16 | 22661 |

---

*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> Risk Managed Income ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Health Care — continued |  |  |
| &nbsp;&nbsp;&nbsp;Moderna <sup>\*(A)</sup> | 249 | $6763 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare <sup>\*(A)</sup> | 40 | 6122 |
| &nbsp;&nbsp;&nbsp;Pfizer <sup>(A)</sup> | 4348 | 107178 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics <sup>(A)</sup> | 92 | 16187 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals <sup>(A)</sup> | 78 | 50840 |
| &nbsp;&nbsp;&nbsp;ResMed <sup>(A)</sup> | 111 | 27404 |
| &nbsp;&nbsp;&nbsp;Revvity <sup>(A)</sup> | 104 | 9733 |
| &nbsp;&nbsp;&nbsp;Solventum <sup>\*(A)</sup> | 138 | 9527 |
| &nbsp;&nbsp;&nbsp;STERIS PLC <sup>(A)</sup> | 74 | 17442 |
| &nbsp;&nbsp;&nbsp;Stryker <sup>(A)</sup> | 263 | 93691 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific <sup>(A)</sup> | 289 | 163976 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group <sup>(A)</sup> | 700 | 239092 |
| &nbsp;&nbsp;&nbsp;Universal Health Services, Cl B <sup>(A)</sup> | 44 | 9548 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals <sup>\*(A)</sup> | 196 | 83412 |
| &nbsp;&nbsp;&nbsp;Viatris <sup>(A)</sup> | 852 | 8827 |
| &nbsp;&nbsp;&nbsp;Waters <sup>\*(A)</sup> | 53 | 18529 |
| &nbsp;&nbsp;&nbsp;West Pharmaceutical Services <sup>(A)</sup> | 58 | 16360 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings <sup>(A)</sup> | 147 | 14782 |
| &nbsp;&nbsp;&nbsp;Zoetis, Cl A <sup>(A)</sup> | 338 | 48702 |
|  |  | 4031897 |
| Industrials — 8.4% |  |  |
| &nbsp;&nbsp;&nbsp;3M <sup>(A)</sup> | 406 | 67599 |
| &nbsp;&nbsp;&nbsp;A O Smith <sup>(A)</sup> | 89 | 5873 |
| &nbsp;&nbsp;&nbsp;Allegion PLC <sup>(A)</sup> | 67 | 11107 |
| &nbsp;&nbsp;&nbsp;AMETEK <sup>(A)</sup> | 178 | 35976 |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing <sup>(A)</sup> | 314 | 81734 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise <sup>\*(A)</sup> | 61 | 44666 |
| &nbsp;&nbsp;&nbsp;Boeing <sup>\*(A)</sup> | 585 | 117597 |
| &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions <sup>(A)</sup> | 91 | 20056 |
| &nbsp;&nbsp;&nbsp;Builders FirstSource <sup>\*(A)</sup> | 89 | 10339 |
| &nbsp;&nbsp;&nbsp;Carrier Global <sup>(A)</sup> | 635 | 37776 |
| &nbsp;&nbsp;&nbsp;Caterpillar <sup>(A)</sup> | 363 | 209545 |
| &nbsp;&nbsp;&nbsp;CH Robinson Worldwide <sup>(A)</sup> | 99 | 15245 |
| &nbsp;&nbsp;&nbsp;Cintas <sup>(A)</sup> | 261 | 47833 |
| &nbsp;&nbsp;&nbsp;Copart <sup>\*(A)</sup> | 669 | 28774 |
| &nbsp;&nbsp;&nbsp;CSX <sup>(A)</sup> | 1418 | 51076 |
| &nbsp;&nbsp;&nbsp;Cummins <sup>(A)</sup> | 107 | 46832 |
| &nbsp;&nbsp;&nbsp;Dayforce <sup>\*(A)</sup> | 118 | 8111 |

---

*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> Risk Managed Income ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Deere <sup>(A)</sup> | 192 | $88633 |
| &nbsp;&nbsp;&nbsp;Delta Air Lines <sup>(A)</sup> | 521 | 29895 |
| &nbsp;&nbsp;&nbsp;Dover <sup>(A)</sup> | 115 | 20868 |
| &nbsp;&nbsp;&nbsp;Eaton PLC <sup>(A)</sup> | 298 | 113705 |
| &nbsp;&nbsp;&nbsp;EMCOR Group <sup>(A)</sup> | 34 | 22977 |
| &nbsp;&nbsp;&nbsp;Emerson Electric <sup>(A)</sup> | 429 | 59876 |
| &nbsp;&nbsp;&nbsp;Equifax <sup>(A)</sup> | 97 | 20477 |
| &nbsp;&nbsp;&nbsp;Expeditors International of Washington <sup>(A)</sup> | 101 | 12312 |
| &nbsp;&nbsp;&nbsp;Fastenal <sup>(A)</sup> | 882 | 36294 |
| &nbsp;&nbsp;&nbsp;FedEx <sup>(A)</sup> | 167 | 42388 |
| &nbsp;&nbsp;&nbsp;Fortive <sup>(A)</sup> | 251 | 12635 |
| &nbsp;&nbsp;&nbsp;GE Aerospace <sup>(A)</sup> | 820 | 253339 |
| &nbsp;&nbsp;&nbsp;GE Vernova <sup>(A)</sup> | 208 | 121709 |
| &nbsp;&nbsp;&nbsp;Generac Holdings <sup>\*(A)</sup> | 45 | 7561 |
| &nbsp;&nbsp;&nbsp;General Dynamics <sup>(A)</sup> | 200 | 68980 |
| &nbsp;&nbsp;&nbsp;Honeywell International <sup>(A)</sup> | 486 | 97846 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace <sup>(A)</sup> | 308 | 63433 |
| &nbsp;&nbsp;&nbsp;Hubbell, Cl B <sup>(A)</sup> | 40 | 18800 |
| &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries <sup>(A)</sup> | 30 | 9661 |
| &nbsp;&nbsp;&nbsp;IDEX <sup>(A)</sup> | 54 | 9259 |
| &nbsp;&nbsp;&nbsp;Illinois Tool Works <sup>(A)</sup> | 202 | 49272 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand <sup>(A)</sup> | 273 | 20838 |
| &nbsp;&nbsp;&nbsp;Jacobs Solutions <sup>(A)</sup> | 89 | 13867 |
| &nbsp;&nbsp;&nbsp;JB Hunt Transport Services <sup>(A)</sup> | 65 | 10976 |
| &nbsp;&nbsp;&nbsp;Johnson Controls International <sup>(A)</sup> | 499 | 57081 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies <sup>(A)</sup> | 143 | 41341 |
| &nbsp;&nbsp;&nbsp;Leidos Holdings <sup>(A)</sup> | 97 | 18476 |
| &nbsp;&nbsp;&nbsp;Lennox International <sup>(A)</sup> | 26 | 13130 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin <sup>(A)</sup> | 157 | 77225 |
| &nbsp;&nbsp;&nbsp;Masco <sup>(A)</sup> | 169 | 10944 |
| &nbsp;&nbsp;&nbsp;Nordson <sup>(A)</sup> | 43 | 9974 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern <sup>(A)</sup> | 177 | 50158 |
| &nbsp;&nbsp;&nbsp;Northrop Grumman <sup>(A)</sup> | 103 | 60095 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line <sup>(A)</sup> | 140 | 19659 |
| &nbsp;&nbsp;&nbsp;Otis Worldwide <sup>(A)</sup> | 301 | 27921 |
| &nbsp;&nbsp;&nbsp;PACCAR <sup>(A)</sup> | 401 | 39458 |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin <sup>(A)</sup> | 98 | 75737 |
| &nbsp;&nbsp;&nbsp;Paychex <sup>(A)</sup> | 246 | 28789 |
| &nbsp;&nbsp;&nbsp;Paycom Software <sup>(A)</sup> | 41 | 7671 |

---

*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> Risk Managed Income ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Pentair PLC <sup>(A)</sup> | 130 | $13825 |
| &nbsp;&nbsp;&nbsp;Quanta Services <sup>(A)</sup> | 114 | 51201 |
| &nbsp;&nbsp;&nbsp;Republic Services, Cl A <sup>(A)</sup> | 153 | 31861 |
| &nbsp;&nbsp;&nbsp;Rockwell Automation <sup>(A)</sup> | 85 | 31311 |
| &nbsp;&nbsp;&nbsp;Rollins <sup>(A)</sup> | 212 | 12213 |
| &nbsp;&nbsp;&nbsp;RTX <sup>(A)</sup> | 1025 | 182962 |
| &nbsp;&nbsp;&nbsp;Snap-On <sup>(A)</sup> | 43 | 14429 |
| &nbsp;&nbsp;&nbsp;Southwest Airlines <sup>(A)</sup> | 454 | 13756 |
| &nbsp;&nbsp;&nbsp;Stanley Black & Decker <sup>(A)</sup> | 128 | 8668 |
| &nbsp;&nbsp;&nbsp;Textron <sup>(A)</sup> | 143 | 11556 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC <sup>(A)</sup> | 170 | 76270 |
| &nbsp;&nbsp;&nbsp;TransDigm Group <sup>(A)</sup> | 45 | 58883 |
| &nbsp;&nbsp;&nbsp;Uber Technologies <sup>\*(A)</sup> | 1597 | 154111 |
| &nbsp;&nbsp;&nbsp;Union Pacific <sup>(A)</sup> | 453 | 99828 |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings <sup>\*(A)</sup> | 259 | 24356 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Cl B <sup>(A)</sup> | 560 | 53995 |
| &nbsp;&nbsp;&nbsp;United Rentals <sup>(A)</sup> | 49 | 42688 |
| &nbsp;&nbsp;&nbsp;Veralto <sup>(A)</sup> | 191 | 18848 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Cl A <sup>(A)</sup> | 106 | 23189 |
| &nbsp;&nbsp;&nbsp;Wabtec <sup>(A)</sup> | 129 | 26373 |
| &nbsp;&nbsp;&nbsp;Waste Management <sup>(A)</sup> | 283 | 56535 |
| &nbsp;&nbsp;&nbsp;WW Grainger <sup>(A)</sup> | 35 | 34265 |
| &nbsp;&nbsp;&nbsp;Xylem <sup>(A)</sup> | 184 | 27756 |
|  |  | 3652278 |
| Information Technology — 37.3% |  |  |
| &nbsp;&nbsp;&nbsp;Accenture PLC, Cl A <sup>(A)</sup> | 482 | 120548 |
| &nbsp;&nbsp;&nbsp;Adobe <sup>\*(A)</sup> | 328 | 111622 |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices <sup>\*(A)</sup> | 1255 | 321431 |
| &nbsp;&nbsp;&nbsp;Akamai Technologies <sup>\*(A)</sup> | 111 | 8336 |
| &nbsp;&nbsp;&nbsp;Amphenol, Cl A <sup>(A)</sup> | 944 | 131537 |
| &nbsp;&nbsp;&nbsp;Analog Devices <sup>(A)</sup> | 383 | 89672 |
| &nbsp;&nbsp;&nbsp;Apple <sup>(A)</sup> | 11477 | 3103036 |
| &nbsp;&nbsp;&nbsp;Applied Materials <sup>(A)</sup> | 620 | 144522 |
| &nbsp;&nbsp;&nbsp;AppLovin, Cl A <sup>\*(A)</sup> | 209 | 133202 |
| &nbsp;&nbsp;&nbsp;Arista Networks <sup>\*(A)</sup> | 797 | 125679 |
| &nbsp;&nbsp;&nbsp;Autodesk <sup>\*(A)</sup> | 167 | 50324 |
| &nbsp;&nbsp;&nbsp;Broadcom <sup>(A)</sup> | 3637 | 1344344 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems <sup>\*(A)</sup> | 211 | 71464 |

---

*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> Risk Managed Income ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;CDW <sup>(A)</sup> | 110 | $17531 |
| &nbsp;&nbsp;&nbsp;Cisco Systems <sup>(A)</sup> | 3034 | 221816 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions, Cl A <sup>(A)</sup> | 368 | 26820 |
| &nbsp;&nbsp;&nbsp;Corning <sup>(A)</sup> | 608 | 54161 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Cl A <sup>\*(A)</sup> | 190 | 103172 |
| &nbsp;&nbsp;&nbsp;Datadog, Cl A <sup>\*(A)</sup> | 261 | 42493 |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Cl C <sup>(A)</sup> | 238 | 38558 |
| &nbsp;&nbsp;&nbsp;EPAM Systems <sup>\*(A)</sup> | 40 | 6542 |
| &nbsp;&nbsp;&nbsp;F5 <sup>\*(A)</sup> | 43 | 10881 |
| &nbsp;&nbsp;&nbsp;Fair Isaac <sup>\*(A)</sup> | 19 | 31531 |
| &nbsp;&nbsp;&nbsp;First Solar <sup>\*(A)</sup> | 88 | 23491 |
| &nbsp;&nbsp;&nbsp;Fortinet <sup>\*(A)</sup> | 513 | 44339 |
| &nbsp;&nbsp;&nbsp;Gartner <sup>\*(A)</sup> | 57 | 14155 |
| &nbsp;&nbsp;&nbsp;Gen Digital <sup>(A)</sup> | 415 | 10939 |
| &nbsp;&nbsp;&nbsp;GoDaddy, Cl A <sup>\*(A)</sup> | 119 | 15842 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise <sup>(A)</sup> | 1015 | 24786 |
| &nbsp;&nbsp;&nbsp;HP <sup>(A)</sup> | 737 | 20393 |
| &nbsp;&nbsp;&nbsp;Intel <sup>\*(A)</sup> | 3385 | 135366 |
| &nbsp;&nbsp;&nbsp;International Business Machines <sup>(A)</sup> | 714 | 219491 |
| &nbsp;&nbsp;&nbsp;Intuit <sup>(A)</sup> | 213 | 142188 |
| &nbsp;&nbsp;&nbsp;Jabil <sup>(A)</sup> | 85 | 18776 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies <sup>\*(A)</sup> | 140 | 25614 |
| &nbsp;&nbsp;&nbsp;KLA <sup>(A)</sup> | 101 | 122083 |
| &nbsp;&nbsp;&nbsp;Lam Research <sup>(A)</sup> | 969 | 152579 |
| &nbsp;&nbsp;&nbsp;Microchip Technology <sup>(A)</sup> | 407 | 25405 |
| &nbsp;&nbsp;&nbsp;Micron Technology <sup>(A)</sup> | 856 | 191547 |
| &nbsp;&nbsp;&nbsp;Microsoft <sup>(A)</sup> | 5748 | 2976372 |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems <sup>(A)</sup> | 38 | 38190 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions <sup>(A)</sup> | 127 | 51652 |
| &nbsp;&nbsp;&nbsp;NetApp <sup>(A)</sup> | 153 | 18020 |
| &nbsp;&nbsp;&nbsp;NVIDIA <sup>(A)</sup> | 18870 | 3820986 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor <sup>\*(A)</sup> | 309 | 15475 |
| &nbsp;&nbsp;&nbsp;Oracle <sup>(A)</sup> | 1282 | 336666 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Cl A <sup>\*(A)</sup> | 1759 | 352627 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks <sup>\*(A)</sup> | 511 | 112543 |
| &nbsp;&nbsp;&nbsp;PTC <sup>\*(A)</sup> | 90 | 17869 |
| &nbsp;&nbsp;&nbsp;QUALCOMM <sup>(A)</sup> | 826 | 149423 |
| &nbsp;&nbsp;&nbsp;Roper Technologies <sup>(A)</sup> | 86 | 38369 |
| &nbsp;&nbsp;&nbsp;Salesforce <sup>(A)</sup> | 732 | 190620 |

---

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

*64*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Risk Managed Income ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;Seagate Technology Holdings <sup>(A)</sup> | 170 | $43500 |
| &nbsp;&nbsp;&nbsp;ServiceNow <sup>\*(A)</sup> | 159 | 146166 |
| &nbsp;&nbsp;&nbsp;Skyworks Solutions <sup>(A)</sup> | 109 | 8471 |
| &nbsp;&nbsp;&nbsp;Super Micro Computer <sup>\*(A)</sup> | 397 | 20628 |
| &nbsp;&nbsp;&nbsp;Synopsys <sup>\*(A)</sup> | 143 | 64896 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies <sup>\*(A)</sup> | 35 | 18439 |
| &nbsp;&nbsp;&nbsp;Teradyne <sup>(A)</sup> | 139 | 25265 |
| &nbsp;&nbsp;&nbsp;Texas Instruments <sup>(A)</sup> | 696 | 112376 |
| &nbsp;&nbsp;&nbsp;Trimble <sup>\*(A)</sup> | 163 | 12999 |
| &nbsp;&nbsp;&nbsp;Tyler Technologies <sup>\*(A)</sup> | 36 | 17145 |
| &nbsp;&nbsp;&nbsp;VeriSign <sup>(A)</sup> | 63 | 15107 |
| &nbsp;&nbsp;&nbsp;Western Digital <sup>(A)</sup> | 261 | 39205 |
| &nbsp;&nbsp;&nbsp;Workday, Cl A <sup>\*(A)</sup> | 164 | 39347 |
| &nbsp;&nbsp;&nbsp;Zebra Technologies, Cl A <sup>\*(A)</sup> | 42 | 11308 |
|  |  | 16189880 |
| Materials — 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;Air Products & Chemicals <sup>(A)</sup> | 175 | 42453 |
| &nbsp;&nbsp;&nbsp;Albemarle <sup>(A)</sup> | 91 | 8939 |
| &nbsp;&nbsp;&nbsp;Amcor PLC <sup>(A)</sup> | 1783 | 14086 |
| &nbsp;&nbsp;&nbsp;Avery Dennison <sup>(A)</sup> | 63 | 11018 |
| &nbsp;&nbsp;&nbsp;Ball <sup>(A)</sup> | 210 | 9870 |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings <sup>(A)</sup> | 137 | 11411 |
| &nbsp;&nbsp;&nbsp;Corteva <sup>(A)</sup> | 516 | 31703 |
| &nbsp;&nbsp;&nbsp;Dow <sup>(A)</sup> | 507 | 12092 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours <sup>(A)</sup> | 337 | 27516 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical <sup>(A)</sup> | 90 | 5357 |
| &nbsp;&nbsp;&nbsp;Ecolab <sup>(A)</sup> | 200 | 51280 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan <sup>(A)</sup> | 1093 | 45578 |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances <sup>(A)</sup> | 211 | 13287 |
| &nbsp;&nbsp;&nbsp;International Paper <sup>(A)</sup> | 442 | 17079 |
| &nbsp;&nbsp;&nbsp;Linde PLC <sup>(A)</sup> | 360 | 150588 |
| &nbsp;&nbsp;&nbsp;LyondellBasell Industries, Cl A <sup>(A)</sup> | 193 | 8959 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials <sup>(A)</sup> | 47 | 28816 |
| &nbsp;&nbsp;&nbsp;Mosaic <sup>(A)</sup> | 231 | 6341 |
| &nbsp;&nbsp;&nbsp;Newmont <sup>(A)</sup> | 839 | 67934 |
| &nbsp;&nbsp;&nbsp;Nucor <sup>(A)</sup> | 173 | 25959 |
| &nbsp;&nbsp;&nbsp;Packaging Corp of America <sup>(A)</sup> | 73 | 14290 |
| &nbsp;&nbsp;&nbsp;PPG Industries <sup>(A)</sup> | 174 | 17008 |

---

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

*65*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Risk Managed Income ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Materials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams <sup>(A)</sup> | 182 | $62779 |
| &nbsp;&nbsp;&nbsp;Smurfit WestRock PLC <sup>(A)</sup> | 380 | 14030 |
| &nbsp;&nbsp;&nbsp;Solstice Advanced Materials <sup>\*</sup> | 122 | 5498 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics <sup>(A)</sup> | 115 | 18032 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials <sup>(A)</sup> | 100 | 28950 |
|  |  | 750853 |
| Real Estate — 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities <sup>‡(A)</sup> | 121 | 7045 |
| &nbsp;&nbsp;&nbsp;American Tower <sup>‡(A)</sup> | 363 | 64970 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities <sup>‡(A)</sup> | 119 | 20696 |
| &nbsp;&nbsp;&nbsp;BXP <sup>‡(A)</sup> | 124 | 8827 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust <sup>‡(A)</sup> | 89 | 8854 |
| &nbsp;&nbsp;&nbsp;CBRE Group, Cl A <sup>\*(A)</sup> | 227 | 34601 |
| &nbsp;&nbsp;&nbsp;CoStar Group <sup>\*(A)</sup> | 323 | 22226 |
| &nbsp;&nbsp;&nbsp;Crown Castle <sup>‡(A)</sup> | 337 | 30404 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust <sup>‡(A)</sup> | 244 | 41580 |
| &nbsp;&nbsp;&nbsp;Equinix <sup>‡(A)</sup> | 75 | 63451 |
| &nbsp;&nbsp;&nbsp;Equity Residential <sup>‡(A)</sup> | 268 | 15930 |
| &nbsp;&nbsp;&nbsp;Essex Property Trust <sup>‡(A)</sup> | 54 | 13595 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage <sup>‡(A)</sup> | 176 | 23503 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust <sup>‡(A)</sup> | 62 | 5964 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties <sup>‡(A)</sup> | 523 | 9388 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts <sup>‡(A)</sup> | 495 | 7930 |
| &nbsp;&nbsp;&nbsp;Invitation Homes <sup>‡(A)</sup> | 436 | 12273 |
| &nbsp;&nbsp;&nbsp;Iron Mountain <sup>‡(A)</sup> | 222 | 22855 |
| &nbsp;&nbsp;&nbsp;Kimco Realty <sup>‡(A)</sup> | 515 | 10640 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartment Communities <sup>‡(A)</sup> | 96 | 12310 |
| &nbsp;&nbsp;&nbsp;ProLogis <sup>‡(A)</sup> | 709 | 87980 |
| &nbsp;&nbsp;&nbsp;Public Storage <sup>‡(A)</sup> | 128 | 35656 |
| &nbsp;&nbsp;&nbsp;Realty Income <sup>‡(A)</sup> | 695 | 40296 |
| &nbsp;&nbsp;&nbsp;Regency Centers <sup>‡(A)</sup> | 125 | 8619 |
| &nbsp;&nbsp;&nbsp;SBA Communications, Cl A <sup>‡(A)</sup> | 90 | 17233 |
| &nbsp;&nbsp;&nbsp;Simon Property Group <sup>‡(A)</sup> | 253 | 44467 |
| &nbsp;&nbsp;&nbsp;UDR <sup>‡(A)</sup> | 284 | 9568 |
| &nbsp;&nbsp;&nbsp;Ventas <sup>‡(A)</sup> | 370 | 27302 |
| &nbsp;&nbsp;&nbsp;VICI Properties, Cl A <sup>‡(A)</sup> | 806 | 24172 |
| &nbsp;&nbsp;&nbsp;Welltower <sup>‡(A)</sup> | 517 | 93598 |

---

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

*66*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Risk Managed Income ETF</u>

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** | | |
| Real Estate — continued |  |  |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser <sup>‡(A)</sup> | 536 | $12328 |
|  |  | 838261 |
| Utilities — 2.4% |  |  |
| &nbsp;&nbsp;&nbsp;AES <sup>(A)</sup> | 551 | 7642 |
| &nbsp;&nbsp;&nbsp;Alliant Energy <sup>(A)</sup> | 194 | 12963 |
| &nbsp;&nbsp;&nbsp;Ameren <sup>(A)</sup> | 209 | 21322 |
| &nbsp;&nbsp;&nbsp;American Electric Power <sup>(A)</sup> | 425 | 51111 |
| &nbsp;&nbsp;&nbsp;American Water Works <sup>(A)</sup> | 160 | 20549 |
| &nbsp;&nbsp;&nbsp;Atmos Energy <sup>(A)</sup> | 126 | 21637 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy <sup>(A)</sup> | 552 | 21108 |
| &nbsp;&nbsp;&nbsp;CMS Energy <sup>(A)</sup> | 232 | 17064 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison <sup>(A)</sup> | 289 | 28151 |
| &nbsp;&nbsp;&nbsp;Constellation Energy <sup>(A)</sup> | 242 | 91234 |
| &nbsp;&nbsp;&nbsp;Dominion Energy <sup>(A)</sup> | 654 | 38383 |
| &nbsp;&nbsp;&nbsp;DTE Energy <sup>(A)</sup> | 158 | 21415 |
| &nbsp;&nbsp;&nbsp;Duke Energy <sup>(A)</sup> | 594 | 73834 |
| &nbsp;&nbsp;&nbsp;Edison International <sup>(A)</sup> | 284 | 15728 |
| &nbsp;&nbsp;&nbsp;Entergy <sup>(A)</sup> | 338 | 32478 |
| &nbsp;&nbsp;&nbsp;Evergy <sup>(A)</sup> | 171 | 13135 |
| &nbsp;&nbsp;&nbsp;Eversource Energy <sup>(A)</sup> | 312 | 23029 |
| &nbsp;&nbsp;&nbsp;Exelon <sup>(A)</sup> | 775 | 35743 |
| &nbsp;&nbsp;&nbsp;FirstEnergy <sup>(A)</sup> | 426 | 19524 |
| &nbsp;&nbsp;&nbsp;NextEra Energy <sup>(A)</sup> | 1575 | 128205 |
| &nbsp;&nbsp;&nbsp;NiSource <sup>(A)</sup> | 357 | 15033 |
| &nbsp;&nbsp;&nbsp;NRG Energy <sup>(A)</sup> | 146 | 25092 |
| &nbsp;&nbsp;&nbsp;PG&E <sup>(A)</sup> | 1658 | 26462 |
| &nbsp;&nbsp;&nbsp;Pinnacle West Capital <sup>(A)</sup> | 87 | 7701 |
| &nbsp;&nbsp;&nbsp;PPL <sup>(A)</sup> | 556 | 20305 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group <sup>(A)</sup> | 378 | 30452 |
| &nbsp;&nbsp;&nbsp;Sempra <sup>(A)</sup> | 496 | 45602 |
| &nbsp;&nbsp;&nbsp;Southern <sup>(A)</sup> | 841 | 79088 |
| &nbsp;&nbsp;&nbsp;Vistra <sup>(A)</sup> | 243 | 45757 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group <sup>(A)</sup> | 243 | 27150 |
| &nbsp;&nbsp;&nbsp;Xcel Energy <sup>(A)</sup> | 439 | 35634 |
|  |  | 1052531 |
| TOTAL UNITED STATES |  | 44958935 |
| TOTAL COMMON STOCK <br> (Cost $29,182,167) |  | 45056336 |

---

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

*67*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Risk Managed Income ETF</u>

---

| | |
|:---|:---|
|  | **Value** |
| **PURCHASED OPTIONS — 0.1%** <br> (Cost $406,252) | $62562 |
| TOTAL INVESTMENTS — 103.9% <br> (Cost $29,588,419) | $45118898 |
| **WRITTEN OPTIONS— (4.0)% <br> (Premiums Received $(1140517))** | $(1750849**)** |

---

*Percentages are based on Net Assets of $43,427,196.*

*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 — 0.1%** |  |  |  |  |  |
| **Put Options** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Mini-SPX Index | 8 | $547216 | $629.00 | 11/21/2025 | $812 |
| &nbsp;&nbsp;&nbsp;S&P 500 Index | 65 | 44461300 | 6290.00 | 11/21/2025 | 61750 |
| &nbsp;&nbsp;&nbsp;Total Purchased Options |  | $45008516 |  |  | $62562 |
| **WRITTEN OPTIONS — (4.0)%** |  |  |  |  |  |
| **Call Options** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Mini-SPX Index | (8) | $(547216) | $662.00 | 11/21/2025 | $(21524) |
| &nbsp;&nbsp;&nbsp;S&P 500 Index | (65) | (44461300) | 6620.00 | 11/21/2025 | (1729325) |
| Total Written Options |  | $(45008516) |  |  | $(1750849) |

---

---

| | |
|:---|:---|
| *\** | *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 $45,215,341.* |

---

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

*68*

![](logom4.jpg)

Schedule of Investments October 31, 2025 <br> <u>Global X S&P 500<sup>®</sup> Risk Managed Income ETF</u>

*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* | $*45056336* | $*—* | $*—* | $*45056336* |
| &nbsp;&nbsp;&nbsp;*Purchased Options* | *62562* | *—* | *—* | *62562* |
| *Total Investments in Securities* | $*45118898* | $*—* | $*—* | $*45118898* |
| *Other Financial Instruments* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Written Options* | $*(1750849)* | $*—* | $*—* | $*(1750849)* |
| *Total Other Financial Instruments* | $*(1750849)* | $*—* | $*—* | $*(1750849)* |

---

*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.*

*69*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Dow 30<sup>®</sup> Covered Call ETF** | **Global X Dow 30<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 103.8%** |  |  |
| **UNITED STATES — 103.8%** |  |  |
| Communication Services — 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;Verizon Communications <sup>(A)</sup> | 17933 | $712657 |
| &nbsp;&nbsp;&nbsp;Walt Disney <sup>(A)</sup> | 17933 | 2019615 |
|  |  | 2732272 |
| Consumer Discretionary — 13.2% |  |  |
| &nbsp;&nbsp;&nbsp;Amazon.com <sup>\*(A)</sup> | 17933 | 4379597 |
| &nbsp;&nbsp;&nbsp;Home Depot <sup>(A)</sup> | 17933 | 6807188 |
| &nbsp;&nbsp;&nbsp;McDonald's <sup>(A)</sup> | 17933 | 5351745 |
| &nbsp;&nbsp;&nbsp;NIKE, Cl B <sup>(A)</sup> | 17933 | 1158292 |
|  |  | 17696822 |
| Consumer Staples — 4.3% |  |  |
| &nbsp;&nbsp;&nbsp;Coca-Cola <sup>(A)</sup> | 17933 | 1235584 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble <sup>(A)</sup> | 17933 | 2696585 |
| &nbsp;&nbsp;&nbsp;Walmart <sup>(A)</sup> | 17933 | 1814461 |
|  |  | 5746630 |
| Energy — 2.1% |  |  |
| &nbsp;&nbsp;&nbsp;Chevron <sup>(A)</sup> | 17933 | 2828393 |
| Financials — 27.8% |  |  |
| &nbsp;&nbsp;&nbsp;American Express <sup>(A)</sup> | 17933 | 6468971 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group <sup>(A)</sup> | 17933 | 14155772 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase <sup>(A)</sup> | 17933 | 5579315 |
| &nbsp;&nbsp;&nbsp;Travelers <sup>(A)</sup> | 17933 | 4817163 |
| &nbsp;&nbsp;&nbsp;Visa, Cl A <sup>(A)</sup> | 17933 | 6110490 |
|  |  | 37131711 |
| Health Care — 12.3% |  |  |
| &nbsp;&nbsp;&nbsp;Amgen <sup>(A)</sup> | 17933 | 5351745 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson <sup>(A)</sup> | 17933 | 3387006 |
| &nbsp;&nbsp;&nbsp;Merck <sup>(A)</sup> | 17933 | 1541879 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group <sup>(A)</sup> | 17933 | 6125196 |
|  |  | 16405826 |
| Industrials — 15.4% |  |  |
| &nbsp;&nbsp;&nbsp;3M <sup>(A)</sup> | 17933 | 2985844 |
| &nbsp;&nbsp;&nbsp;Boeing <sup>\*(A)</sup> | 17933 | 3604892 |

---

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

*70*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Dow 30<sup>®</sup> Covered Call ETF** | **Global X Dow 30<sup>®</sup> Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Caterpillar <sup>(A)</sup> | 17933 | $10352003 |
| &nbsp;&nbsp;&nbsp;Honeywell International <sup>(A)</sup> | 17933 | 3610451 |
|  |  | 20553190 |
| Information Technology — 21.9% |  |  |
| &nbsp;&nbsp;&nbsp;Apple <sup>(A)</sup> | 17933 | 4848545 |
| &nbsp;&nbsp;&nbsp;Cisco Systems <sup>(A)</sup> | 17933 | 1311082 |
| &nbsp;&nbsp;&nbsp;International Business Machines <sup>(A)</sup> | 17933 | 5512783 |
| &nbsp;&nbsp;&nbsp;Microsoft <sup>(A)</sup> | 17933 | 9285887 |
| &nbsp;&nbsp;&nbsp;NVIDIA <sup>(A)</sup> | 17933 | 3631253 |
| &nbsp;&nbsp;&nbsp;Salesforce <sup>(A)</sup> | 17933 | 4669933 |
|  |  | 29259483 |
| Materials — 4.8% |  |  |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams <sup>(A)</sup> | 17933 | 6185809 |
| &nbsp;&nbsp;&nbsp;Solstice Advanced Materials <sup>\*</sup> | 4453 | 200708 |
|  |  | 6386517 |
| TOTAL UNITED STATES |  | 138740844 |
| TOTAL COMMON STOCK<br> (Cost $103,956,333) |  | 138740844 |
| TOTAL INVESTMENTS — 103.8%<br> (Cost $103,956,333) |  | $138740844 |
| **WRITTEN OPTIONS — (4.0)%** |  |  |
| &nbsp;&nbsp;&nbsp;(Premiums Received $(2996666)) |  | $(5307120) |

---

*Percentages are based on Net Assets of $133,603,392.*

*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** |
| **WRITTEN OPTIONS — (4.0)%** | | | |  | |
| **Call Options** | | | |  | |
| &nbsp;&nbsp;&nbsp;Dow Jones Industrial Average Index | (2916) | $(138693708) | $460.00 | 11/21/2025 | $(5307120) |

---

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

*71*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Dow 30<sup>®</sup> Covered Call ETF** | **Global X Dow 30<sup>®</sup> Covered Call ETF** |

---

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

*(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 $138,540,136.*

*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* | $*138740844* | $*—* | $*—* | $*138740844* |
| *Total Investments in Securities* | $*138740844* | $*—* | $*—* | $*138740844* |
| *Other Financial Instruments* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Written Options* | $*(5307120)* | $*—* | $*—* | $*(5307120)* |
| *Total Other Financial Instruments* | $*(5307120)* | $*—* | $*—* | $*(5307120)* |

---

*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.*

*72*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Russell 2000 Covered Call & Growth ETF** | **Global X Russell 2000 Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **EXCHANGE-TRADED FUND — 101.4%** | | |
| **Domestic Equity — 101.4%** | | |
| &nbsp;&nbsp;&nbsp;Global X Russell 2000 ETF <sup>(A)(B)(C)</sup> | 84253 | $8146793 |
| TOTAL EXCHANGE-TRADED FUND<br> (Cost $6,749,138) |  | 8146793 |
| TOTAL INVESTMENTS — 101.4%<br> (Cost $6,749,138) |  | $8146793 |
| **WRITTEN OPTIONS — (1.5)%** |  |  |
| &nbsp;&nbsp;&nbsp;(Premiums Received $(127162)) |  | $(116810) |

---

*Percentages are based on Net Assets of $8,036,835.*

*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** |
| **WRITTEN OPTIONS — (1.5)%** |  |  |  |  |  |
| **Call Options** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cboe Mini-Russell 2000 Index | (4) | $(99175) | $245.00 | 11/21/2025 | $(2890) |
| &nbsp;&nbsp;&nbsp;Russell 2000 Index | (16) | (3967010) | 2450.00 | 11/21/2025 | (113920) |
| &nbsp;&nbsp;&nbsp;Total Written Options |  | $(4066185) |  |  | $(116810) |

---

*(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 $4,751,660.* 

*(B)* *For financial information on the Global X Russell 2000 ETF, please go to the Fund's website at https://www.globalxetfs.com/explore/.* 

*(C)* *Affiliated investment.* 

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

*73*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Russell 2000 Covered Call & Growth ETF** | **Global X Russell 2000 Covered Call & Growth 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;*Exchange-Traded Fund* | $*8146793* | $*—* | $*—* | $*8146793* |
| *Total Investments in Securities* | $*8146793* | $*—* | $*—* | $*8146793* |
| *Other Financial Instruments* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Written Options* | $*(116810)* | $*—* | $*—* | $*(116810)* |
| *Total Other Financial Instruments* | $*(116810)* | $*—* | $*—* | $*(116810)* |

---

*The following is a summary of the Fund's transactions with affiliates for the year ended October 31, 2025:*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Value<br> 10/31/2024 | Purchases<br> at Cost | Proceeds<br> from Sales | Change in<br> Unrealized<br> Appreciation<br> (Depreciation) | Realized Gain<br> (Loss) | Value<br> 10/31/2025 | Income | Capital Gains |
| **Global X Russell 2000 ETF** | **Global X Russell 2000 ETF** |  |  |  |  |  |  |
| $6442062 | $3971527 | $(3132342) | $902705 | $(37159) | $8146793 | $113952 | $— |

---

*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.*

*74*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Information Technology Covered Call & Growth ETF** | **Global X Information Technology Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **EXCHANGE-TRADED FUND — 54.0%** | | |
| **Domestic Equity — 54.0%** | | |
| &nbsp;&nbsp;&nbsp;Technology Select Sector SPDR Fund <sup>(A)(B)</sup> | 20077 | $6036752 |
| TOTAL EXCHANGE-TRADED FUND<br> (Cost $4,156,391) |  | 6036752 |
| **COMMON STOCK — 49.1%** |  |  |
| **IRELAND — 0.7%** |  |  |
| Information Technology — 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;Accenture PLC, Cl A | 291 | 72779 |
| **NETHERLANDS — 0.2%** |  |  |
| Information Technology — 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors | 117 | 24467 |
| **SWITZERLAND — 0.3%** |  |  |
| Information Technology — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;TE Connectivity PLC | 142 | 35076 |
| **UNITED STATES — 47.9%** |  |  |
| Information Technology — 47.9% |  |  |
| &nbsp;&nbsp;&nbsp;Adobe <sup>\*</sup> | 200 | 68062 |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices <sup>\*</sup> | 760 | 194651 |
| &nbsp;&nbsp;&nbsp;Akamai Technologies <sup>\*</sup> | 64 | 4806 |
| &nbsp;&nbsp;&nbsp;Amphenol, Cl A | 584 | 81375 |
| &nbsp;&nbsp;&nbsp;Analog Devices | 233 | 54552 |
| &nbsp;&nbsp;&nbsp;Apple | 2493 | 674032 |
| &nbsp;&nbsp;&nbsp;Applied Materials | 375 | 87412 |
| &nbsp;&nbsp;&nbsp;AppLovin, Cl A <sup>\*</sup> | 127 | 80941 |
| &nbsp;&nbsp;&nbsp;Arista Networks <sup>\*</sup> | 484 | 76322 |
| &nbsp;&nbsp;&nbsp;Autodesk <sup>\*</sup> | 104 | 31339 |
| &nbsp;&nbsp;&nbsp;Broadcom | 790 | 292008 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems <sup>\*</sup> | 129 | 43691 |
| &nbsp;&nbsp;&nbsp;CDW | 60 | 9562 |
| &nbsp;&nbsp;&nbsp;Cisco Systems | 1854 | 135546 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions, Cl A | 235 | 17127 |
| &nbsp;&nbsp;&nbsp;Corning | 367 | 32692 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Cl A <sup>\*</sup> | 118 | 64075 |
| &nbsp;&nbsp;&nbsp;Datadog, Cl A <sup>\*</sup> | 156 | 25398 |

---

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

*75*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Information Technology Covered Call & Growth ETF** | **Global X Information Technology Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Cl C | 141 | $22843 |
| &nbsp;&nbsp;&nbsp;EPAM Systems <sup>\*</sup> | 28 | 4579 |
| &nbsp;&nbsp;&nbsp;F5 <sup>\*</sup> | 28 | 7085 |
| &nbsp;&nbsp;&nbsp;Fair Isaac <sup>\*</sup> | 11 | 18255 |
| &nbsp;&nbsp;&nbsp;First Solar <sup>\*</sup> | 49 | 13080 |
| &nbsp;&nbsp;&nbsp;Fortinet <sup>\*</sup> | 305 | 26361 |
| &nbsp;&nbsp;&nbsp;Gartner <sup>\*</sup> | 37 | 9189 |
| &nbsp;&nbsp;&nbsp;Gen Digital | 274 | 7223 |
| &nbsp;&nbsp;&nbsp;GoDaddy, Cl A <sup>\*</sup> | 63 | 8387 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise | 616 | 15043 |
| &nbsp;&nbsp;&nbsp;HP | 442 | 12230 |
| &nbsp;&nbsp;&nbsp;Intel <sup>\*</sup> | 2046 | 81820 |
| &nbsp;&nbsp;&nbsp;International Business Machines | 436 | 134031 |
| &nbsp;&nbsp;&nbsp;Intuit | 130 | 86781 |
| &nbsp;&nbsp;&nbsp;Jabil | 50 | 11045 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies <sup>\*</sup> | 81 | 14820 |
| &nbsp;&nbsp;&nbsp;KLA | 62 | 74942 |
| &nbsp;&nbsp;&nbsp;Lam Research | 592 | 93216 |
| &nbsp;&nbsp;&nbsp;Microchip Technology | 256 | 15980 |
| &nbsp;&nbsp;&nbsp;Micron Technology | 527 | 117927 |
| &nbsp;&nbsp;&nbsp;Microsoft | 1248 | 646227 |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems | 22 | 22110 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions | 79 | 32130 |
| &nbsp;&nbsp;&nbsp;NetApp | 92 | 10836 |
| &nbsp;&nbsp;&nbsp;NVIDIA | 4099 | 830007 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor <sup>\*</sup> | 195 | 9766 |
| &nbsp;&nbsp;&nbsp;Oracle | 672 | 176474 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Cl A <sup>\*</sup> | 1065 | 213501 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks <sup>\*</sup> | 313 | 68935 |
| &nbsp;&nbsp;&nbsp;PTC <sup>\*</sup> | 56 | 11118 |
| &nbsp;&nbsp;&nbsp;QUALCOMM | 504 | 91174 |
| &nbsp;&nbsp;&nbsp;Roper Technologies | 50 | 22308 |
| &nbsp;&nbsp;&nbsp;Salesforce | 447 | 116403 |
| &nbsp;&nbsp;&nbsp;Seagate Technology Holdings | 105 | 26867 |
| &nbsp;&nbsp;&nbsp;ServiceNow <sup>\*</sup> | 98 | 90089 |
| &nbsp;&nbsp;&nbsp;Skyworks Solutions | 70 | 5440 |
| &nbsp;&nbsp;&nbsp;Super Micro Computer <sup>\*</sup> | 231 | 12003 |
| &nbsp;&nbsp;&nbsp;Synopsys <sup>\*</sup> | 88 | 39936 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies <sup>\*</sup> | 21 | 11063 |

---

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

*76*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Information Technology Covered Call & Growth ETF** | **Global X Information Technology Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Information Technology — continued |  |  |
| &nbsp;&nbsp;&nbsp;Teradyne | 73 | $13268 |
| &nbsp;&nbsp;&nbsp;Texas Instruments | 425 | 68621 |
| &nbsp;&nbsp;&nbsp;Trimble <sup>\*</sup> | 110 | 8773 |
| &nbsp;&nbsp;&nbsp;Tyler Technologies <sup>\*</sup> | 19 | 9049 |
| &nbsp;&nbsp;&nbsp;VeriSign | 39 | 9352 |
| &nbsp;&nbsp;&nbsp;Western Digital | 164 | 24634 |
| &nbsp;&nbsp;&nbsp;Workday, Cl A <sup>\*</sup> | 100 | 23992 |
| &nbsp;&nbsp;&nbsp;Zebra Technologies, Cl A <sup>\*</sup> | 23 | 6193 |
| TOTAL UNITED STATES |  | 5348697 |
| TOTAL COMMON STOCK<br> (Cost $3,922,168) |  | 5481019 |
| TOTAL INVESTMENTS — 103.1%<br> (Cost $8,078,559) |  | $11517771 |
| **WRITTEN OPTIONS— (3.2)%** |  |  |
| &nbsp;&nbsp;&nbsp;(Premiums Received $(198545)) |  | $(353161) |

---

*Percentages are based on Net Assets of $11,170,504.*

*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** |
| **WRITTEN OPTIONS — (3.2)%** |  |  |  |  |  |
| **Call Options** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;The Technology Select Sector SPDR® Fund | (191) | $(5742988) | $285.00 | 11/21/2025 | $(353161) |

---

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

*(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 $5,742,988.*

*(B)* *For financial information on the Technology Select Sector SPDR Fund, please go to the Fund's website at https://www.ssga.com/us/en/intermediary.*

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

*77*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Information Technology Covered Call & Growth ETF** | **Global X Information Technology Covered Call & Growth 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;*Exchange-Traded Fund* | $*6036752* | $*—* | $*—* | $*6036752* |
| &nbsp;&nbsp;&nbsp;*Common Stock* | *5481019* | *—* | *—* | *5481019* |
| *Total Investments in Securities* | $*11517771* | $*—* | $*—* | $*11517771* |
| *Other Financial Instruments* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Written Options* | $*—* | $*(353161)* | $*—* | $*(353161)* |
| *Total Other Financial Instruments* | $*—* | $*(353161)* | $*—* | $*(353161)* |

---

*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.*

*78*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Dow 30<sup>®</sup> Covered Call & Growth ETF** | **Global X Dow 30<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — 101.8%** |  |  |
| **UNITED STATES — 101.8%** |  |  |
| Communication Services — 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;Verizon Communications | 543 | $21579 |
| &nbsp;&nbsp;&nbsp;Walt Disney <sup>(A)</sup> | 543 | 61152 |
|  |  | 82731 |
| Consumer Discretionary — 13.0% |  |  |
| &nbsp;&nbsp;&nbsp;Amazon.com <sup>\*(A)</sup> | 543 | 132612 |
| &nbsp;&nbsp;&nbsp;Home Depot <sup>(A)</sup> | 543 | 206117 |
| &nbsp;&nbsp;&nbsp;McDonald's <sup>(A)</sup> | 543 | 162048 |
| &nbsp;&nbsp;&nbsp;NIKE, Cl B | 543 | 35072 |
|  |  | 535849 |
| Consumer Staples — 4.2% |  |  |
| &nbsp;&nbsp;&nbsp;Coca-Cola <sup>(A)</sup> | 543 | 37412 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble | 543 | 81651 |
| &nbsp;&nbsp;&nbsp;Walmart | 543 | 54941 |
|  |  | 174004 |
| Energy — 2.1% |  |  |
| &nbsp;&nbsp;&nbsp;Chevron <sup>(A)</sup> | 543 | 85642 |
| Financials — 27.2% |  |  |
| &nbsp;&nbsp;&nbsp;American Express <sup>(A)</sup> | 543 | 195876 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group <sup>(A)</sup> | 543 | 428628 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase | 543 | 168938 |
| &nbsp;&nbsp;&nbsp;Travelers <sup>(A)</sup> | 543 | 145861 |
| &nbsp;&nbsp;&nbsp;Visa, Cl A <sup>(A)</sup> | 543 | 185022 |
|  |  | 1124325 |
| Health Care — 12.0% |  |  |
| &nbsp;&nbsp;&nbsp;Amgen <sup>(A)</sup> | 543 | 162048 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | 543 | 102556 |
| &nbsp;&nbsp;&nbsp;Merck | 543 | 46687 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group <sup>(A)</sup> | 543 | 185467 |
|  |  | 496758 |
| Industrials — 15.1% |  |  |
| &nbsp;&nbsp;&nbsp;3M | 543 | 90410 |
| &nbsp;&nbsp;&nbsp;Boeing <sup>\*(A)</sup> | 543 | 109154 |

---

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

*79*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Dow 30<sup>®</sup> Covered Call & Growth ETF** | **Global X Dow 30<sup>®</sup> Covered Call & Growth ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCK — continued** |  |  |
| Industrials — continued |  |  |
| &nbsp;&nbsp;&nbsp;Caterpillar | 543 | $313452 |
| &nbsp;&nbsp;&nbsp;Honeywell International <sup>(A)</sup> | 543 | 109322 |
|  |  | 622338 |
| Information Technology — 21.5% |  |  |
| &nbsp;&nbsp;&nbsp;Apple <sup>(A)</sup> | 543 | 146811 |
| &nbsp;&nbsp;&nbsp;Cisco Systems <sup>(A)</sup> | 543 | 39699 |
| &nbsp;&nbsp;&nbsp;International Business Machines <sup>(A)</sup> | 543 | 166923 |
| &nbsp;&nbsp;&nbsp;Microsoft <sup>(A)</sup> | 543 | 281171 |
| &nbsp;&nbsp;&nbsp;NVIDIA | 543 | 109952 |
| &nbsp;&nbsp;&nbsp;Salesforce <sup>(A)</sup> | 543 | 141403 |
|  |  | 885959 |
| Materials — 4.7% |  |  |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams <sup>(A)</sup> | 543 | 187302 |
| &nbsp;&nbsp;&nbsp;Solstice Advanced Materials <sup>\*</sup> | 135 | 6085 |
|  |  | 193387 |
| TOTAL UNITED STATES |  | 4200993 |
| TOTAL COMMON STOCK <br>(Cost $3,658,802) |  | 4200993 |
| TOTAL INVESTMENTS — 101.8% <br>(Cost $3,658,802) |  | $4200993 |
| **WRITTEN OPTIONS — (1.9)%** |  |  |
| &nbsp;&nbsp;&nbsp;(Premiums Received $(45103)) |  | $(80080) |

---

Percentages are based on Net Assets of $4,126,235.

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** |
| **WRITTEN OPTIONS — (1.9)%** |  |  |  |  |  |
| **Call Options** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Dow Jones Industrial Average Index | (44) | $(2092772) | $460.00 | 11/21/2025 | $(80080) |

---

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

*80*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** | **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** |

---

\* Non-income producing security.

(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 $2,094,735.

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* | $*4200993* | $*—* | $*—* | $*4200993* |
| *Total Investments in Securities* | $*4200993* | $*—* | $*—* | $*4200993* |
| *Other Financial Instruments* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Written Options* | $*(80080)* | $*—* | $*—* | $*(80080)* |
| *Total Other Financial Instruments* | $*(80080)* | $*—* | $*—* | $*(80080)* |

---

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.

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X MLP & Energy Infrastructure Covered Call ETF** | **Global X MLP & Energy Infrastructure Covered Call ETF** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **EXCHANGE-TRADED FUND — 101.1%** |  |  |
| **Domestic Equity — 101.1%** |  |  |
| Global X MLP & Energy Infrastructure ETF <sup>(A)(B)(C)</sup> | 190326 | $11145491 |
| TOTAL EXCHANGE-TRADED FUND <br>(Cost $11,799,094) |  | 11145491 |
| TOTAL INVESTMENTS — 101.1% <br>(Cost $11,799,094) |  | $11145491 |
| **WRITTEN OPTIONS — (1.2)%** |  |  |
| &nbsp;&nbsp;&nbsp;(Premiums Received $(190629)) |  | $(136792) |

---

Percentages are based on Net Assets of $11,027,195.

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** |
| **WRITTEN OPTIONS — (1.2)%** |  |  |  |  |  |
| **Call Options** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Global X MLP & Energy Infrastructure ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1902) | $(11138112) | $59.00 | 11/21/2025 | $(136792) |

---

(A)&nbsp;&nbsp;&nbsp;&nbsp; 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 $10,897,255.

(B)&nbsp;&nbsp;&nbsp;&nbsp; For financial information on the Global X MLP & Energy Infrastructure ETF, please go to the Fund's website at https://www.globalxetfs.com/explore/.

(C)&nbsp;&nbsp;&nbsp;&nbsp; Affiliated investment.

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

*82*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Global X MLP & Energy Infrastructure Covered Call ETF** | **Global X MLP & Energy Infrastructure Covered Call 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;*Exchange-Traded Fund* | $*11145491* | $*—* | $— | $*11145491* |
| *Total Investments in Securities* | $11145491 | $— | $— | $11145491 |
| *Other Financial Instruments* | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;*Written Options* | $*—* | $*(136792)* | $— | $*(136792)* |
| *Total Other Financial Instruments* | $— | $(136792) | $— | $(136792) |

---

The following is a summary of the Fund's transactions with affiliates for the year ended October 31, 2025:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Value<br> 10/31/2024 | Purchases<br> at Cost | Proceeds<br> from Sales | Change in<br> Unrealized<br> Appreciation<br> (Depreciation) | Realized Gain<br> (Loss) | Value<br> 10/31/2025 | Income | Capital Gains |
| **Global X MLP & Energy Infrastructure ETF** | **Global X MLP & Energy Infrastructure ETF** |  |  |  |  |  |  |
| $2563166 | $23451217 | $(14464144) | $(995416) | $590668 | $11145491 | $436051 | $— |

---

*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.*

*83*

![](logom4.jpg)

---

| | |
|:---|:---|
| **Schedule of Investments** | **October 31, 2025** |
| **Glossary (abbreviations used in preceding Schedules of Investments):** | **Glossary (abbreviations used in preceding Schedules of Investments):** |

---

**Fund Abbreviations**

ADR — *American Depositary Receipt*

Cl — *Class*

ETF — *Exchange-Traded Fund* 

REIT — *Real Estate Investment Trust*

S&P — *Standard & Poor's*

SPDR — *Standard & Poor's Depository Receipt*

*84*

Statements of Assets and Liabilities

**October 31, 2025**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X S&P<br> 500<sup>®</sup> Covered<br> Call ETF** | **Global X<br> NASDAQ 100<sup>®</sup><br> Covered Call<br> ETF** | **Global X Russell<br> 2000 Covered<br> Call ETF** | **Global X Nasdaq<br> 100<sup>®</sup> Covered<br> Call & Growth<br> ETF** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;Cost of Investments | $1959507829 | $4336317977 | $— | $77515316 |
| &nbsp;&nbsp;Cost of Affiliated Investments | 3178873 |  | 1061298678 |  |
| &nbsp;&nbsp;Cost (Proceeds) of Foreign Currency |  |  | 5089 |  |
| &nbsp;&nbsp;Investments, at Value | $3172453065 | $8571658620 | $23829 | $126828639 |
| &nbsp;&nbsp;Affiliated Investments, at Value | 3295964 |  | 1290083051 |  |
| &nbsp;&nbsp;Cash | 5298851 | 11017306 | 1351782 | 94381 |
| &nbsp;&nbsp;Foreign Currency, at Value |  |  | 5059 |  |
| &nbsp;&nbsp;Dividend, Interest, and Securities Lending Income Receivable | 1462802 | 1071761 |  | 16510 |
| &nbsp;&nbsp;Reclaim Receivable | 11379 | 12515 | 141 |  |
| &nbsp;&nbsp;Receivable for Capital Shares Sold |  | 17782857 |  |  |
| &nbsp;&nbsp;Receivable for Investment Securities Sold |  | 11134741 |  |  |
| &nbsp;&nbsp;Due from Broker | 5280 | 120574 | 487157 |  |
| &nbsp;&nbsp;**Total Assets** | 3182527341 | 8612798374 | 1291951019 | 126939530 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;Options Written at Value<br> (Premiums received $80,410,311, $277,192,613, $40,144,029 and $2,009,898, respectively) | 123527015 | 481225940 | 36860240 | 3485040 |
| &nbsp;&nbsp;Payable due to Investment Adviser | 1551925 | 4136536 | 551144 | 35404 |
| &nbsp;&nbsp;Payable for Investment Securities Purchased |  | 18189778 |  |  |
| &nbsp;&nbsp;Payable for Capital Shares Redeemed |  | 10460504 |  |  |
| &nbsp;&nbsp;Custodian Fees Payable |  |  | 1541 |  |
| &nbsp;&nbsp;Due to Broker | 559453 | 89461 | 31979 | 29045 |
| &nbsp;&nbsp;**Total Liabilities** | 125638393 | 514102219 | 37444904 | 3549489 |
| &nbsp;&nbsp;**Net Assets** | $3056888948 | $8098696155 | $1254506115 | $123390041 |
| **Net Assets Consist of:** |  |  |  |  |
| &nbsp;&nbsp;Paid-in Capital | $3056883569 | $8098696148 | $1303062256 | $110139616 |
| &nbsp;&nbsp;Total Distributable Earnings (Accumulated Losses) | 5379 | 7 | (48556141) | 13250425 |
| &nbsp;&nbsp;**Net Assets** | $3056888948 | $8098696155 | $1254506115 | $123390041 |
| &nbsp;&nbsp;Outstanding Shares of Beneficial Interest <br> (unlimited authorization — no par value) | 76660000 | 464530000 | 81330000 | 4070000 |
| &nbsp;&nbsp;Net Asset Value, Offering and Redemption Price Per Share | $39.88 | $17.43 | $15.42 | $30.32 |

---

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

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

*85*

Statements of Assets and Liabilities

**October 31, 2025**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X S&P<br> 500<sup>®</sup> Covered<br> Call & Growth<br> ETF** | **Global X<br> NASDAQ 100<sup>®</sup><br> Risk Managed<br> Income ETF** | **Global X S&P<br> 500<sup>®</sup> Risk<br> Managed Income<br> ETF** | **Global X Dow<br> 30<sup>®</sup> Covered Call<br> ETF** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;Cost of Investments | $41759110 | $11128752 | $29588419 | $103956333 |
| &nbsp;&nbsp;Investments, at Value | $55876865 | $18231949 | $45118898 | $138740844 |
| &nbsp;&nbsp;Cash | 80922 | 24483 | 67492 | 164532 |
| &nbsp;&nbsp;Dividend, Interest, and Securities Lending Income Receivable | 25546 | 2103 | 20452 | 72847 |
| &nbsp;&nbsp;Reclaim Receivable | 205 |  | 162 |  |
| &nbsp;&nbsp;Receivable for Investment Securities Sold |  |  | 179255 |  |
| &nbsp;&nbsp;**Total Assets** | 55983538 | 18258535 | 45386259 | 138978223 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;Options Written at Value<br> (Premiums received $710,447, $586,399, $1,140,517 and $2,996,666, respectively) | 1090805 | 1018468 | 1750849 | 5307120 |
| &nbsp;&nbsp;Payable due to Investment Adviser | 16325 | 8707 | 22155 | 67711 |
| &nbsp;&nbsp;Payable for Investment Securities Purchased |  |  | 8079 |  |
| &nbsp;&nbsp;Payable for Capital Shares Redeemed |  |  | 177980 |  |
| &nbsp;&nbsp;**Total Liabilities** | 1107130 | 1027175 | 1959063 | 5374831 |
| &nbsp;&nbsp;**Net Assets** | $54876408 | $17231360 | $43427196 | $133603392 |
| **Net Assets Consist of:** |  |  |  |  |
| &nbsp;&nbsp;Paid-in Capital | $49995963 | $17231357 | $43427195 | $130251351 |
| &nbsp;&nbsp;Total Distributable Earnings | 4880445 | 3 | 1 | 3352041 |
| &nbsp;&nbsp;**Net Assets** | $54876408 | $17231360 | $43427196 | $133603392 |
| &nbsp;&nbsp;Outstanding Shares of Beneficial Interest <br> (unlimited authorization — no par value) | 1870000 | 1070000 | 2440000 | 6060000 |
| &nbsp;&nbsp;Net Asset Value, Offering and Redemption Price Per Share | $29.35 | $16.10 | $17.80 | $22.05 |

---

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

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

*86*

Statements of Assets and Liabilities

**October 31, 2025**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X Russell<br> 2000 Covered<br> Call & Growth<br> ETF** | **Global X<br> Information<br> Technology<br> Covered Call &<br> Growth ETF** | **Global X Dow<br> 30<sup>®</sup> Covered Call<br> & Growth ETF** | **Global X MLP<br> & Energy<br> Infrastructure<br> Covered Call<br> ETF** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;Cost of Investments | $— | $8078559 | $3658802 | $— |
| &nbsp;&nbsp;Cost of Affiliated Investments | 6749138 |  |  | 11799094 |
| &nbsp;&nbsp;Investments, at Value | $— | $11517771 | $4200993 | $— |
| &nbsp;&nbsp;Affiliated Investments, at Value | 8146793 |  |  | 11145491 |
| &nbsp;&nbsp;Cash | 12512 | 10140 | 4324 | 20750 |
| &nbsp;&nbsp;Receivable for Capital Shares Sold |  |  |  | 245067 |
| &nbsp;&nbsp;Receivable for Investment Securities Sold |  |  |  | 2205 |
| &nbsp;&nbsp;Dividend, Interest, and Securities Lending Income Receivable |  | 988 | 2209 |  |
| &nbsp;&nbsp;Reclaim Receivable |  | 96 |  |  |
| &nbsp;&nbsp;**Total Assets** | 8159305 | 11528995 | 4207526 | 11413513 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;Options Written at Value<br> (Premiums received $127,162, $198,545, $45,103 and $190,629, respectively) | 116810 | 353161 | 80080 | 136792 |
| &nbsp;&nbsp;Payable due to Investment Adviser | 1833 | 5146 | 1211 | 1290 |
| &nbsp;&nbsp;Payable for Investment Securities Purchased |  |  |  | 248236 |
| &nbsp;&nbsp;Custodian Fees Payable | 9 |  |  |  |
| &nbsp;&nbsp;Due to Broker | 3818 | 184 |  |  |
| &nbsp;&nbsp;**Total Liabilities** | 122470 | 358491 | 81291 | 386318 |
| &nbsp;&nbsp;**Net Assets** | $8036835 | $11170504 | $4126235 | $11027195 |
| **Net Assets Consist of:** |  |  |  |  |
| &nbsp;&nbsp;Paid-in Capital | $7795326 | $9636630 | $3828047 | $11325355 |
| &nbsp;&nbsp;Total Distributable Earnings (Accumulated Losses) | 241509 | 1533874 | 298188 | (298160) |
| &nbsp;&nbsp;**Net Assets** | $8036835 | $11170504 | $4126235 | $11027195 |
| &nbsp;&nbsp;Outstanding Shares of Beneficial Interest <br> (unlimited authorization — no par value) | 350000 | 300000 | 150000 | 450000 |
| &nbsp;&nbsp;Net Asset Value, Offering and Redemption Price Per Share | $22.96 | $37.24 | $27.51 | $24.50 |

---

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

*87*

Statements of Operations

**For the year ended October 31, 2025**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X S&P<br> 500<sup>®</sup> Covered<br> Call ETF** | **Global X<br> NASDAQ 100<sup>®</sup><br> Covered Call<br> ETF** | **Global X Russell<br> 2000 Covered<br> Call ETF** | **Global X Nasdaq<br> 100<sup>®</sup> Covered<br> Call & Growth<br> ETF** |
| **Investment Income:** |  |  |  |  |
| &nbsp;&nbsp;Dividend Income | $39859032 | $63741139 | $(800102)<sup>(1)</sup> | $785457 |
| &nbsp;&nbsp;Dividend Income, from Affiliated Investments |  |  | 21111671 |  |
| &nbsp;&nbsp;Interest Income | 407606 | 1045295 | 177458 | 23762 |
| &nbsp;&nbsp;Less: Foreign Taxes Withheld | (9295) | (150392) | 141 | (2029) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Investment Income** | 40257343 | 64636042 | 20489168 | 807190 |
| **Expenses:** |  |  |  |  |
| &nbsp;&nbsp;Supervision and Administration Fees<sup>(2)</sup> | 18318445 | 50143294 | 8101383 | 366622 |
| &nbsp;&nbsp;Custodian Fees<sup>(3)</sup> |  | 35125 | 8627 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Expenses** | 18318445 | 50178419 | 8110010 | 366622 |
| &nbsp;&nbsp;Waiver of Supervision and Administration Fees |  |  | (395773) |  |
| &nbsp;&nbsp;**Net Expenses** | 18318445 | 50178419 | 7714237 | 366622 |
| &nbsp;&nbsp;**Net Investment Income** | 21938898 | 14457623 | 12774931 | 440568 |
| &nbsp;&nbsp;**Net Realized Gain (Loss) on:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments<sup>(4)</sup> | 204572701 | 1168570826 | 1020193 | 7618548 |
| &nbsp;&nbsp;&nbsp;&nbsp;Affiliated Investments |  |  | 34406982<sup>(4)</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Written Options | (222465166) | (1238675987) | (42758153) | (6833175) |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign Currency Transactions |  |  | (181) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payment from Adviser<sup>(5)</sup> | 62 |  | 714393 |  |
| &nbsp;&nbsp;**Net Realized Gain (Loss)** | (17892403) | (70105161) | (6616766) | 785373 |
| &nbsp;&nbsp;**Net Change in Unrealized Appreciation (Depreciation) on:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments | 367878531 | 1140979512 | (45508) | 20996168 |
| &nbsp;&nbsp;&nbsp;&nbsp;Affiliated Investments | 117091 |  | 115570018 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Written Options | (80038498) | (305380710) | (22065573) | (2116354) |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign Currency Translations |  |  | (31) |  |
| &nbsp;&nbsp;**Net Change in Unrealized Appreciation (Depreciation)** | 287957124 | 835598802 | 93458906 | 18879814 |
| &nbsp;&nbsp;**Net Realized and Unrealized Gain (Loss)** | 270064721 | 765493641 | 86842140 | 19665187 |
| &nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | $292003619 | $779951264 | $99617071 | $20105755 |

---

&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *See Note 2 Investment in REITs in the Notes to Financial Statements.* 

*(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.)* 

*(5)* *See Note 3 in the Notes to Financial Statements.* 

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

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

*88*

Statements of Operations

**For the year ended October 31, 2025**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X S&P<br> 500<sup>®</sup> Covered<br> Call & Growth<br> ETF** | **Global X<br> NASDAQ 100<sup>®</sup><br> Risk Managed<br> Income ETF** | **Global X S&P<br> 500<sup>®</sup> Risk<br> Managed<br> Income ETF** | **Global X Dow<br> 30<sup>®</sup> Covered Call<br> ETF** |
| **Investment Income:** |  |  |  |  |
| &nbsp;&nbsp;Dividend Income | $727707 | $137539 | $580869 | $2125043 |
| &nbsp;&nbsp;Interest Income | 12788 | 2420 | 5854 |  |
| &nbsp;&nbsp;Less: Foreign Taxes Withheld | 23 | (349) | (134) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Investment Income** | 740518 | 139610 | 586589 | 2125043 |
| **Expenses:** |  |  |  |  |
| &nbsp;&nbsp;Supervision and Administration Fees<sup>(1)</sup> | 196268 | 109019 | 267199 | 739030 |
| &nbsp;&nbsp;Custodian Fees<sup>(2)</sup> | 146 | 203 | 138 | 1176 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Expenses** | 196414 | 109222 | 267337 | 740206 |
| &nbsp;&nbsp;**Net Investment Income** | 544104 | 30388 | 319252 | 1384837 |
| &nbsp;&nbsp;**Net Realized Gain (Loss) on:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments<sup>(3)</sup> | 6782582 | 1851069 | 1355588 | 2771885 |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchased Options |  | (198381) | (952129) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Written Options | (1573621) | (2766506) | (3355582) | (3371975) |
| &nbsp;&nbsp;**Net Realized Gain (Loss)** | 5208961 | (1113818) | (2952123) | (600090) |
| &nbsp;&nbsp;**Net Change in Unrealized Appreciation (Depreciation) on:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments | 2828311 | 3148060 | 7024620 | 14824581 |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchased Options |  | (254219) | (514694) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Written Options | (772422) | (647195) | (1122229) | (2284518) |
| &nbsp;&nbsp;**Net Change in Unrealized Appreciation (Depreciation)** | 2055889 | 2246646 | 5387697 | 12540063 |
| &nbsp;&nbsp;**Net Realized and Unrealized Gain (Loss)** | 7264850 | 1132828 | 2435574 | 11939973 |
| &nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | $7808954 | $1163216 | $2754826 | $13324810 |

---

&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.)* 

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

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

*89*

Statements of Operations

**For the year ended October 31, 2025**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X Russell<br> 2000 Covered<br> Call & Growth<br> ETF** | **Global X<br> Information<br> Technology<br> Covered Call &<br> Growth ETF** | **Global X Dow<br> 30<sup>®</sup> Covered Call<br> & Growth ETF** | **Global X MLP<br> & Energy<br> Infrastructure<br> Covered Call<br> ETF** |
| **Investment Income:** |  |  |  |  |
| &nbsp;&nbsp;Dividend Income | $— | $71445 | $40855 | $— |
| &nbsp;&nbsp;Dividend Income, from Affiliated Investments | 113952 |  |  | 436051 |
| &nbsp;&nbsp;Interest Income | 1503 | 1154 | 314 | 1516 |
| &nbsp;&nbsp;Less: Foreign Taxes Withheld |  | (79) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Investment Income** | 115455 | 72520 | 41169 | 437567 |
| **Expenses:** |  |  |  |  |
| &nbsp;&nbsp;Supervision and Administration Fees<sup>(1)</sup> | 25441 | 62511 | 8463 | 61675 |
| &nbsp;&nbsp;Custodian Fees<sup>(2)</sup> | 22 | 4 | 18 | 171 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Expenses** | 25463 | 62515 | 8481 | 61846 |
| &nbsp;&nbsp;Waiver of Supervision and Administration Fees |  | (4613) |  |  |
| &nbsp;&nbsp;**Net Expenses** | 25463 | 57902 | 8481 | 61846 |
| &nbsp;&nbsp;**Net Investment Income** | 89992 | 14618 | 32688 | 375721 |
| &nbsp;&nbsp;**Net Realized Gain (Loss) on:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments<sup>(3)</sup> |  | 557483 | 187528 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Affiliated Investments | (37159) |  |  | 590668 |
| &nbsp;&nbsp;&nbsp;&nbsp;Written Options | (160778) | (734029) | (27238) | 703716 |
| &nbsp;&nbsp;&nbsp;&nbsp;Payment from Adviser<sup>(4)</sup> | 5895 |  |  | 47077 |
| &nbsp;&nbsp;**Net Realized Gain (Loss)** | (192042) | (176546) | 160290 | 1341461 |
| &nbsp;&nbsp;**Net Change in Unrealized Appreciation (Depreciation) on:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments |  | 2700499 | 240541 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Affiliated Investments | 902705 |  |  | (995416) |
| &nbsp;&nbsp;&nbsp;&nbsp;Written Options | (45219) | (252278) | (34886) | 29610 |
| &nbsp;&nbsp;**Net Change in Unrealized Appreciation (Depreciation)** | 857486 | 2448221 | 205655 | (965806) |
| &nbsp;&nbsp;**Net Realized and Unrealized Gain (Loss)** | 665444 | 2271675 | 365945 | 375655 |
| &nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | $755436 | $2286293 | $398633 | $751376 |

---

&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.)* 

*(4)* *See Note 3 in the Notes to Financial Statements.* 

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

*90*

![](logom4.jpg)

Statements of Changes in Net Assets

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X S&P 500<sup>®</sup> Covered Call<br> ETF** | **Global X S&P 500<sup>®</sup> Covered Call<br> ETF** | **Global X NASDAQ 100<sup>®</sup> Covered<br> Call ETF** | **Global X NASDAQ 100<sup>®</sup> Covered<br> Call 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 | $21938898 | $25023380 | $14457623 | $27013374 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) | (17892403) | (280059999) | (70105161) | (302656804) |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 287957124 | 718998601 | 835598802 | 1836055193 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 292003619 | 463961982 | 779951264 | 1560411763 |
| **Distributions:** | (375873794) | (269977983) | (936279801) | (949453576) |
| **Return of Capital:** | (9611596) |  | (131971829) |  |
| **Capital Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 869780373 | 204369569 | 1579472532 | 823504999 |
| &nbsp;&nbsp;&nbsp;Redeemed | (497708109) | (425260941) | (1303416931) | (844735665) |
| &nbsp;&nbsp;&nbsp;**Increase (Decrease) in Net Assets from Capital Share Transactions** | 372072264 | (220891372) | 276055601 | (21230666) |
| &nbsp;&nbsp;&nbsp;**Total Increase (Decrease) in Net Assets** | 278590493 | (26907373) | (12244765) | 589727521 |
| **Net Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 2778298455 | 2805205828 | 8110940920 | 7521213399 |
| &nbsp;&nbsp;&nbsp;End of Year | $3056888948 | $2778298455 | $8098696155 | $8110940920 |
| **Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 21420000 | 5040000 | 90530000 | 46600000 |
| &nbsp;&nbsp;&nbsp;Redeemed | (12720000) | (10560000) | (77570000) | (48040000) |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Shares Outstanding from Share Transactions** | 8700000 | (5520000) | 12960000 | (1440000) |

---

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

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

*91*

![](logom4.jpg)

Statements of Changes in Net Assets

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X Russell 2000 Covered<br> Call ETF** | **Global X Russell 2000 Covered<br> Call ETF** | **Global X Nasdaq 100<sup>®</sup> Covered<br> Call & Growth ETF** | **Global X Nasdaq 100<sup>®</sup> Covered<br> Call & Growth 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 | $12774931 | $10708561 | $440568 | $496031 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) | (6616766) | (98977511) | 785373 | 3342514 |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 93458906 | 253853097 | 18879814 | 24275811 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 99617071 | 165584147 | 20105755 | 28114356 |
| **Distributions:** | (14289808) | (12155274) | (24445611) | (6726354) |
| **Return of Capital:** | (148158827) | (157500393) |  |  |
| **Capital Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 120919049 | 215772020 | 33926794 | 13884120 |
| &nbsp;&nbsp;&nbsp;Redeemed | (213229734) | (208089881) | (10468057) | (33179649) |
| &nbsp;&nbsp;&nbsp;**Increase (Decrease) in Net Assets from Capital Share Transactions** | (92310685) | 7682139 | 23458737 | (19295529) |
| &nbsp;&nbsp;&nbsp;**Total Increase (Decrease) in Net Assets** | (155142249) | 3610619 | 19118881 | 2092473 |
| **Net Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 1409648364 | 1406037745 | 104271160 | 102178687 |
| &nbsp;&nbsp;&nbsp;End of Year | $1254506115 | $1409648364 | $123390041 | $104271160 |
| **Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 7690000 | 13260000 | 1190000 | 470000 |
| &nbsp;&nbsp;&nbsp;Redeemed | (14280000) | (12670000) | (390000) | (1120000) |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Shares Outstanding from Share Transactions** | (6590000) | 590000 | 800000 | (650000) |

---

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

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

*92*

![](logom4.jpg)

Statements of Changes in Net Assets

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X S&P 500<sup>®</sup> Covered Call &<br> Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call &<br> Growth ETF** | **Global X NASDAQ 100<sup>®</sup> Risk<br> Managed Income ETF** | **Global X NASDAQ 100<sup>®</sup> Risk<br> Managed Income 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 | $544104 | $638164 | $30388 | $43082 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) | 5208961 | (86578) | (1113818) | (2482008) |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 2055889 | 14915199 | 2246646 | 4258992 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 7808954 | 15466785 | 1163216 | 1820066 |
| **Distributions:** | (13163102) | (2972756) | (654724) | (43082) |
| **Return of Capital:** |  |  | (1539180) | (1631699) |
| **Capital Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 23958170 | 9004908 | 3933535 | 6623412 |
| &nbsp;&nbsp;&nbsp;Redeemed | (23022657) | (23210228) | (3063610) | (1189146) |
| &nbsp;&nbsp;&nbsp;**Increase (Decrease) in Net Assets from Capital Share Transactions** | 935513 | (14205320) | 869925 | 5434266 |
| &nbsp;&nbsp;&nbsp;**Total Increase (Decrease) in Net Assets** | (4418635) | (1711291) | (160763) | 5579551 |
| **Net Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 59295043 | 61006334 | 17392123 | 11812572 |
| &nbsp;&nbsp;&nbsp;End of Year | $54876408 | $59295043 | $17231360 | $17392123 |
| **Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 850000 | 310000 | 230000 | 390000 |
| &nbsp;&nbsp;&nbsp;Redeemed | (850000) | (780000) | (190000) | (70000) |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Shares Outstanding from Share Transactions** |  | (470000) | 40000 | 320000 |

---

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

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

*93*

![](logom4.jpg)

Statements of Changes in Net Assets

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X S&P 500<sup>®</sup> Risk Managed<br> Income ETF** | **Global X S&P 500<sup>®</sup> Risk Managed<br> Income ETF** | **Global X Dow 30<sup>®</sup> Covered Call<br> ETF** | **Global X Dow 30<sup>®</sup> Covered Call<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 | $319252 | $288223 | $1384837 | $1172564 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) | (2952123) | (5373037) | (600090) | (8966326) |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 5387697 | 9325440 | 12540063 | 18709999 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 2754826 | 4240626 | 13324810 | 10916237 |
| **Distributions:** | (2754825) | (594200) | (14518457) | (5821224) |
| **Return of Capital:** | (2675570) | (3431396) |  |  |
| **Capital Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 9662344 | 16854721 | 53828678 | 12916012 |
| &nbsp;&nbsp;&nbsp;Redeemed | (3005630) | (4721511) | (9746859) | (6242956) |
| &nbsp;&nbsp;&nbsp;**Increase in Net Assets from Capital Share Transactions** | 6656714 | 12133210 | 44081819 | 6673056 |
| &nbsp;&nbsp;&nbsp;**Total Increase in Net Assets** | 3981145 | 12348240 | 42888172 | 11768069 |
| **Net Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 39446051 | 27097811 | 90715220 | 78947151 |
| &nbsp;&nbsp;&nbsp;End of Year | $43427196 | $39446051 | $133603392 | $90715220 |
| **Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 510000 | 890000 | 2430000 | 580000 |
| &nbsp;&nbsp;&nbsp;Redeemed | (170000) | (250000) | (450000) | (280000) |
| &nbsp;&nbsp;&nbsp;**Net Increase in Shares Outstanding from Share Transactions** | 340000 | 640000 | 1980000 | 300000 |

---

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

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

*94*

![](logom4.jpg)

Statements of Changes in Net Assets

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X Russell 2000 Covered Call <br>& Growth ETF** | **Global X Russell 2000 Covered Call <br>& Growth ETF** | **Global X Information Technology<br>Covered Call & Growth ETF** | **Global X Information Technology<br>Covered Call & Growth 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 | $89992 | $98478 | $14618 | $13291 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) | (192042) | 985517 | (176546) | 849535 |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 857486 | 805452 | 2448221 | 262418 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 755436 | 1889447 | 2286293 | 1125244 |
| **Distributions:** | (1485255) | (588288) | (695323) | (698442) |
| **Return of Capital:** |  |  | (152513) | (40076) |
| **Capital Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 3542028 | 4734879 | 2344622 | 7052518 |
| &nbsp;&nbsp;&nbsp;Redeemed | (1188719) | (7902104) | (1026890) | (2488330) |
| &nbsp;&nbsp;&nbsp;**Increase (Decrease) in Net Assets from Capital Share Transactions** | 2353309 | (3167225) | 1317732 | 4564188 |
| &nbsp;&nbsp;&nbsp;**Total Increase (Decrease) in Net Assets** | 1623490 | (1866066) | 2756189 | 4950914 |
| **Net Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 6413345 | 8279411 | 8414315 | 3463401 |
| &nbsp;&nbsp;&nbsp;End of Year | $8036835 | $6413345 | $11170504 | $8414315 |
| **Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 160000 | 200000 | 70000 | 220000 |
| &nbsp;&nbsp;&nbsp;Redeemed | (60000) | (320000) | (30000) | (80000) |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Shares Outstanding from Share Transactions** | 100000 | (120000) | 40000 | 140000 |

---

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

*95*

![](logom4.jpg)

Statements of Changes in Net Assets

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global X Dow 30<sup>®</sup> Covered Call &<br> Growth ETF** | **Global X Dow 30<sup>®</sup> Covered Call &<br> Growth ETF** | **Global X MLP & Energy<br> Infrastructure Covered Call ETF** | **Global X MLP & Energy<br> Infrastructure Covered Call ETF** |
|  | **Year Ended<br> October 31, 2025** | **Year Ended<br> October 31, 2024** | **Year Ended<br> October 31, 2025** | **Period Ended<br> October 31,<br> 2024<sup>(1)</sup>** |
| **Operations:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $32688 | $34553 | $375721 | $23884 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) | 160290 | (50824) | 1341461 | (219540) |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 205655 | 478080 | (965806) | 366040 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 398633 | 461809 | 751376 | 170384 |
| **Distributions:** | (339585) | (75986) | (1194015) | (114089) |
| **Return of Capital:** |  |  |  | (4801) |
| **Capital Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 2609108 |  | 21514278 | 2998454 |
| &nbsp;&nbsp;&nbsp;Redeemed | (526840) | (821390) | (12594900) | (499492) |
| &nbsp;&nbsp;&nbsp;**Increase (Decrease) in Net Assets from Capital Share Transactions** | 2082268 | (821390) | 8919378 | 2498962 |
| &nbsp;&nbsp;&nbsp;**Total Increase (Decrease) in Net Assets** | 2141316 | (435567) | 8476739 | 2550456 |
| **Net Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of Year/Period | 1984919 | 2420486 | 2550456 |  |
| &nbsp;&nbsp;&nbsp;End of Year/Period | $4126235 | $1984919 | $11027195 | $2550456 |
| **Share Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 100000 |  | 850000 | 120000 |
| &nbsp;&nbsp;&nbsp;Redeemed | (20000) | (30000) | (500000) | (20000) |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Shares Outstanding from Share Transactions** | 80000 | (30000) | 350000 | 100000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *The Fund commenced operations on May 7, 2024.* 

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

*96*

![](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> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** | **Global X S&P 500<sup>®</sup> Covered Call ETF** |
| 2025 | 40.88 | 0.29 | 3.82 | 4.11 | (3.80) | (1.19) | (0.12) |
| 2024 | 38.18 | 0.36 | 6.17 | 6.53 | (3.83) |  |  |
| 2023 | 40.00 | 0.43 | 2.13 | 2.56 | (0.14) |  | (4.24) |
| 2022 | 50.37 | 0.45 | (5.50) | (5.05) | (1.05) | (0.11) | (4.16) |
| 2021 | 42.45 | 0.39 | 12.14 | 12.53 | (4.61) |  |  |
| **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** | **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** | **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** | **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** | **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** | **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** | **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** | **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** |
| 2025 | 17.96 | 0.03 | 1.65 | 1.68 | (1.60) | (0.34) | (0.27) |
| 2024 | 16.60 | 0.06 | 3.39 | 3.45 | (2.09) |  |  |
| 2023 | 16.15 | 0.05 | 2.44 | 2.49 |  |  | (2.04) |
| 2022 | 22.82 | 0.05 | (4.13) | (4.08) | (0.24) | (0.50) | (1.85) |
| 2021 | 20.65 | 0.02 | 4.73 | 4.75 | (2.58) |  |  |
| **Global X Russell 2000 Covered Call ETF** | **Global X Russell 2000 Covered Call ETF** | **Global X Russell 2000 Covered Call ETF** | **Global X Russell 2000 Covered Call ETF** | **Global X Russell 2000 Covered Call ETF** | **Global X Russell 2000 Covered Call ETF** | **Global X Russell 2000 Covered Call ETF** | **Global X Russell 2000 Covered Call ETF** |
| 2025 | 16.03 | 0.15 | 1.10 | 1.25 | (0.16) |  | (1.70) |
| 2024 | 16.10 | 0.12 | 1.78 | 1.90 | (0.14) |  | (1.83) |
| 2023 | 19.55 | 0.19 | (1.47) | (1.28) | (0.03) |  | (2.14) |
| 2022 | 25.18 | 0.19 | (3.10) | (2.91) | (0.44) | (0.31) | (1.97) |
| 2021 | 20.45 | 0.13 | 7.50 | 7.63 | (2.90) |  |  |

---

---

| | |
|:---|:---|
| \* | 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) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| (2) | Net investment income ratios do not reflect the proportionate share of income and expenses of the underlying funds in which the fund invests. |
| (3) | The ratio of expenses to average net assets includes the effect of a waiver due to acquired fund fees and expenses. The ratio of expenses to average net assets does not include acquired fund fees and expenses of the underlying investments, if applicable. If these offsets were excluded, the ratio would have been 0.60% for the years ending on October 31, 2025, 2024, 2023, 2022, and 2021, respectively. |
| (4) | 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 0.54%. |
|  | Amounts designated as "—" are either $0 or have been rounded to $0. |

---

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

*97*

![](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>** |
| (5.11) | 39.88 | 10.72 | 3056889 | 0.60<sup>(1)</sup> | 0.72<sup>(2)</sup> | 9.05 |
| (3.83) | 40.88 | 17.72 | 2778298 | 0.60 | 0.88 | 3.83 |
| (4.38) | 38.18 | 6.45 | 2805206 | 0.60 | 1.07 | 7.90 |
| (5.32) | 40.00 | (10.72) | 1934545 | 0.60 | 1.00 | 15.60 |
| (4.61) | 50.37 | 30.67 | 669855 | 0.60 | 0.80 | 4.84 |
| (2.21) | 17.43 | 10.25 | 8098696 | 0.60 | 0.17 | 24.46 |
| (2.09) | 17.96 | 21.73 | 8110941 | 0.60 | 0.34 | 21.54 |
| (2.04) | 16.60 | 15.91 | 7521213 | 0.61 | 0.31 | 38.93 |
| (2.59) | 16.15 | (19.18) | 6397648 | 0.60 | 0.25 | 31.11 |
| (2.58) | 22.82 | 23.89 | 5036215 | 0.60 | 0.11 | 19.99 |
| (1.86) | 15.42 | 8.53 | 1254506 | 0.57<sup>(1)(3)</sup> | 0.95<sup>(2)</sup> | 11.22 |
| (1.97) | 16.03 | 12.30 | 1409648 | 0.56<sup>(1)(3)</sup> | 0.76<sup>(2)</sup> | 105.44 |
| (2.17) | 16.10 | (7.18) | 1406038 | 0.57<sup>(1)(3)</sup> | 1.04<sup>(2)</sup> | 19.24 |
| (2.72) | 19.55 | (12.18) | 1342241 | 0.55<sup>(1)(3)(4)</sup> | 0.86<sup>(2)</sup> | 186.48 |
| (2.90) | 25.18 | 38.82 | 554446 | 0.50<sup>(1)(3)</sup> | 0.53<sup>(2)</sup> | 8.94 |

---

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

*98*

![](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 Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** | **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** | **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** | **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** | **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** | **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** | **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** | **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** |
| 2025 | 31.89 | 0.12 | 5.46 | 5.58 | (1.85) | (5.30) |  |
| 2024 | 26.07 | 0.14 | 7.58 | 7.72 | (1.90) |  |  |
| 2023 | 22.80 | 0.07 | 4.73 | 4.80 |  |  | (1.53) |
| 2022 | 33.09 | 0.06 | (7.29) | (7.23) | (0.20) | (1.60) | (1.26) |
| 2021 | 26.27 | 0.02 | 8.56 | 8.58 | (1.76) |  |  |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** |
| 2025 | 31.71 | 0.28 | 4.11 | 4.39 | (1.50) | (5.25) |  |
| 2024 | 26.07 | 0.30 | 6.75 | 7.05 | (1.41) |  |  |
| 2023 | 25.47 | 0.28 | 1.75 | 2.03 | (0.19) |  | (1.24) |
| 2022 | 31.83 | 0.27 | (4.03) | (3.76) | (0.42) | (1.10) | (1.08) |
| 2021 | 24.69 | 0.22 | 8.29 | 8.51 | (1.37) |  |  |
| **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** | **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** | **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** | **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** | **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** | **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** | **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** | **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** |
| 2025 | 16.89 | 0.03 | 1.17 | 1.20 | (0.59) |  | (1.40) |
| 2024 | 16.64 | 0.05 | 2.25 | 2.30 | (0.05) |  | (2.00) |
| 2023 | 18.17 | 0.05 | 0.58 | 0.63 |  |  | (2.16) |
| 2022 | 24.12 | 0.04 | (4.04) | (4.00) | (0.25) |  | (1.70) |
| 2021<sup>(3)</sup> | 24.60 | (0.01) | (0.16) | (0.17) |  |  | (0.31) |

---

---

| | |
|:---|:---|
| \* | 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. |
| † | 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) | 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 0.60%. |
| (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 0.60% and 0.61% for the years ending on October 31, 2023 and 2022, respectively. |
| (3) | The Fund commenced operations on August 25, 2021. |
|  | Amounts designated as "—" are either $0 or have been rounded to $0. |

---

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

*99*

![](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> (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>** |
| (7.15) | 30.32 | 20.64 | 123390 | 0.35 |  | 0.42 |  | 14.80 |
| (1.90) | 31.89 | 30.15 | 104271 | 0.46 |  | 0.46 |  | 14.82 |
| (1.53) | 26.07 | 21.43 | 102179 | 0.60 |  | 0.27 |  | 28.03 |
| (3.06) | 22.80 | (23.57) | 61105 | 0.61 | <sup>(1)</sup> | 0.23 |  | 18.12 |
| (1.76) | 33.09 | 33.42 | 44671 | 0.60 |  | 0.06 |  | 11.21 |
| (6.75) | 29.35 | 16.08 | 54876 | 0.35 |  | 0.97 |  | 5.37 |
| (1.41) | 31.71 | 27.47 | 59295 | 0.46 |  | 1.00 |  | 3.25 |
| (1.43) | 26.07 | 8.01 | 61006 | 0.60 |  | 1.05 |  | 5.25 |
| (2.60) | 25.47 | (12.63) | 41511 | 0.61 | <sup>(1)</sup> | 0.94 |  | 9.36 |
| (1.37) | 31.83 | 35.18 | 35018 | 0.60 |  | 0.74 |  | 12.17 |
| (1.99) | 16.10 | 7.57 | 17231 | 0.60 |  | 0.17 |  | 18.43 |
| (2.05) | 16.89 | 14.48 | 17392 | 0.60 |  | 0.31 |  | 8.02 |
| (2.16) | 16.64 | 3.42 | 11813 | 0.61 | <sup>(2)</sup> | 0.30 |  | 22.73 |
| (1.95) | 18.17 | (17.24) | 10720 | 0.62 | <sup>(2)</sup> | 0.19 |  | 27.40 |
| (0.31) | 24.12 | (0.69) | 4341 | 0.60 | † | (0.15) |)† | 2.16 |

---

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

*100*

![](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> Risk Managed Income ETF** | **Global X S&P 500<sup>®</sup> Risk Managed Income ETF** | **Global X S&P 500<sup>®</sup> Risk Managed Income ETF** | **Global X S&P 500<sup>®</sup> Risk Managed Income ETF** | **Global X S&P 500<sup>®</sup> Risk Managed Income ETF** | **Global X S&P 500<sup>®</sup> Risk Managed Income ETF** | **Global X S&P 500<sup>®</sup> Risk Managed Income ETF** | **Global X S&P 500<sup>®</sup> Risk Managed Income ETF** |
| 2025 | 18.78 | 0.13 | 1.12 | 1.25 | (1.13) |  | (1.10) |
| 2024 | 18.56 | 0.16 | 2.34 | 2.50 | (0.34) |  | (1.94) |
| 2023 | 21.05 | 0.22 | (0.29) | (0.07) | (0.03) |  | (2.39) |
| 2022 | 26.83 | 0.23 | (3.38) | (3.15) | (0.52) | (0.07) | (2.04) |
| 2021<sup>(2)</sup> | 26.77 | 0.03 | 0.39 | 0.42 | (0.36) |  |  |
| **Global X Dow 30<sup>®</sup> Covered Call ETF** | **Global X Dow 30<sup>®</sup> Covered Call ETF** | **Global X Dow 30<sup>®</sup> Covered Call ETF** | **Global X Dow 30<sup>®</sup> Covered Call ETF** | **Global X Dow 30<sup>®</sup> Covered Call ETF** | **Global X Dow 30<sup>®</sup> Covered Call ETF** | **Global X Dow 30<sup>®</sup> Covered Call ETF** | **Global X Dow 30<sup>®</sup> Covered Call ETF** |
| 2025 | 22.23 | 0.25 | 2.36 | 2.61 | (1.70) | (1.09) |  |
| 2024 | 20.89 | 0.31 | 2.54 | 2.85 | (1.51) |  |  |
| 2023 | 21.89 | 0.34 | 0.38 | 0.72 | (0.18) |  | (1.54) |
| 2022<sup>(3)</sup> | 24.13 | 0.22 | (0.86) | (0.64) | (0.64) |  | (0.96) |
| **Global X Russell 2000 Covered Call & Growth ETF** | **Global X Russell 2000 Covered Call & Growth ETF** | **Global X Russell 2000 Covered Call & Growth ETF** | **Global X Russell 2000 Covered Call & Growth ETF** | **Global X Russell 2000 Covered Call & Growth ETF** | **Global X Russell 2000 Covered Call & Growth ETF** | **Global X Russell 2000 Covered Call & Growth ETF** | **Global X Russell 2000 Covered Call & Growth ETF** |
| 2025 | 25.65 | 0.28 | 2.20 | 2.48 | (1.57) | (3.60) |  |
| 2024 | 22.38 | 0.30 | 4.78 | 5.08 | (1.81) |  |  |
| 2023 | 26.58 | 0.28 | (2.31) | (2.03) | (0.17) | (0.82) | (1.18) |
| 2022<sup>(8)</sup> | 25.90 | (0.01) | 0.82 | 0.81 | (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.* |
| *†* | *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)* | *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%.* |
| *(2)* | *The Fund commenced operations on August 25, 2021.* |
| *(3)* | *The Fund commenced operations on February 23, 2022.* |
| *(4)* | *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 0.60%.* |
| *(5)* | *Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.* |
| *(6)* | *Net investment income ratios do not reflect the proportionate share of income and expenses of the underlying funds in which the fund invests.* |
| *(7)* | *The ratio of expenses to average net assets includes the effect of a waiver due to acquired fund fees and expenses. The ratio of expenses to average net assets does not include acquired fund fees and expenses of the underlying investments, if applicable. If these offsets were excluded, the ratio would have been 0.48%, 0.60% and 0.60% for the years ending on October 31, 2024, 2023 and 2022, respectively.* |
| *(8)* | *The Fund commenced operations on October 4, 2022.* |
|  | *Amounts designated as "—" are either $0 or have been rounded to $0.* |

---

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

*101*

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Financial Highlights

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---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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>** |
| (2.23) | 17.80 | 7.06 | 43427 | 0.60 |  | 0.72 |  | 9.81 |
| (2.28) | 18.78 | 14.10 | 39446 | 0.60 |  | 0.87 |  | 3.08 |
| (2.42) | 18.56 | (0.61) | 27098 | 0.60 |  | 1.08 |  | 4.85 |
| (2.63) | 21.05 | (12.39) | 24634 | 0.63 | <sup>(1)</sup> | 0.97 |  | 21.62 |
| (0.36) | 26.83 | 1.60 | 5902 | 0.60 | † | 0.57 | † | 7.08 |
| (2.79) | 22.05 | 12.45 | 133603 | 0.60 |  | 1.12 |  | 13.50 |
| (1.51) | 22.23 | 13.86 | 90715 | 0.60 |  | 1.37 |  | 6.14 |
| (1.72) | 20.89 | 3.30 | 78947 | 0.60 |  | 1.55 |  | 6.67 |
| (1.60) | 21.89 | (2.77) | 52985 | 0.61 | †<sup>(4)</sup> | 1.42 | † | 8.82 |
| (5.17) | 22.96 | 11.44 | 8037 | 0.35 | <sup>(5)</sup> | 1.24 | <sup>(6)</sup> | 5.24 |
| (1.81) | 25.65 | 23.12 | 6413 | 0.38 | <sup>(5)(7)</sup> | 1.19 | <sup>(6)</sup> | 96.85 |
| (2.17) | 22.38 | (8.16) | 8279 | 0.50 | <sup>(5)(7)</sup> | 1.11 | <sup>(6)</sup> | 5.48 |
| (0.13) | 26.58 | 3.14 | 2658 | 0.50 | †<sup>(5)(7)</sup> | (0.50) |)†<sup>(6)</sup> | 0.00 |

---

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

*102*

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Financial Highlights

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**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 Information Technology Covered Call & Growth ETF** | **Global X Information Technology Covered Call & Growth ETF** | **Global X Information Technology Covered Call & Growth ETF** | **Global X Information Technology Covered Call & Growth ETF** | **Global X Information Technology Covered Call & Growth ETF** | **Global X Information Technology Covered Call & Growth ETF** | **Global X Information Technology Covered Call & Growth ETF** | **Global X Information Technology Covered Call & Growth ETF** |
| 2025 | 32.36 | 0.05 | 7.52 | 7.57 | (2.21) |  | (0.48) |
| 2024 | 28.86 | 0.06 | 7.62 | 7.68 | (3.02) | (0.95) | (0.21) |
| 2023<sup>(4)</sup> | 24.74 | 0.11 | 5.55 | 5.66 | (1.54) |  |  |
| **Global X Dow 30<sup>®</sup> Covered Call & Growth ETF** | **Global X Dow 30<sup>®</sup> Covered Call & Growth ETF** | **Global X Dow 30<sup>®</sup> Covered Call & Growth ETF** | **Global X Dow 30<sup>®</sup> Covered Call & Growth ETF** | **Global X Dow 30<sup>®</sup> Covered Call & Growth ETF** | **Global X Dow 30<sup>®</sup> Covered Call & Growth ETF** | **Global X Dow 30<sup>®</sup> Covered Call & Growth ETF** | **Global X Dow 30<sup>®</sup> Covered Call & Growth ETF** |
| 2025 | 28.36 | 0.36 | 3.23 | 3.59 | (1.02) | (3.42) |  |
| 2024 | 24.20 | 0.40 | 4.67 | 5.07 | (0.91) |  |  |
| 2023<sup>(5)</sup> | 25.81 | 0.10 | (1.48) | (1.38) | (0.09) |  | (0.14) |
| **Global X MLP & Energy Infrastructure Covered Call ETF** | **Global X MLP & Energy Infrastructure Covered Call ETF** | **Global X MLP & Energy Infrastructure Covered Call ETF** | **Global X MLP & Energy Infrastructure Covered Call ETF** | **Global X MLP & Energy Infrastructure Covered Call ETF** | **Global X MLP & Energy Infrastructure Covered Call ETF** | **Global X MLP & Energy Infrastructure Covered Call ETF** | **Global X MLP & Energy Infrastructure Covered Call ETF** |
| 2025 | 25.50 | 0.92 | 1.00 | 1.92 | (2.92) |  |  |
| 2024<sup>(6)</sup> | 24.95 | 0.24 | 1.50 | 1.74 | (1.14) |  | (0.05) |

---

---

| | |
|:---|:---|
| *\** | *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)* | *Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.* |
| *(2)* | *The ratio of expenses to average net assets includes the effect of a waiver due to acquired fund fees and expenses. The ratio of expenses to average net assets does not include acquired fund fees and expenses of the underlying investments, if applicable. If these offsets were excluded, the ratio would have been 0.60% for the years ended on October 31, 2023, 2024 and 2025, respectively.* |
| *(3)* | *Net investment income ratios do not reflect the proportionate share of income and expenses of the underlying funds in which the fund invests.* |
| *(4)* | *The Fund commenced operations on November 21, 2022.* |
| *(5)* | *The Fund commenced operations on July 25, 2023.* |
| *(6)* | *The Fund commenced operations on May 7, 2024.* |
|  | *Amounts designated as "—" are either $0 or have been rounded to $0.* |

---

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

*103*

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Financial Highlights

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---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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>** |
| (2.69) | 37.24 | 24.83 | 11171 | 0.56 | <sup>(1)(2)</sup> | 0.14 | <sup>(3)</sup> | 4.30 |
| (4.18) | 32.36 | 27.98 | 8414 | 0.55 | <sup>(1)(2)</sup> | 0.20 | <sup>(3)</sup> | 22.38 |
| (1.54) | 28.86 | 23.27 | 3463 | 0.55 | †<sup>(1)(2)</sup> | 0.42 | †<sup>(3)</sup> | 13.93 |
| (4.44) | 27.51 | 14.07 | 4126 | 0.35 |  | 1.35 |  | 11.74 |
| (0.91) | 28.36 | 21.13 | 1985 | 0.48 |  | 1.49 |  | 6.08 |
| (0.23) | 24.20 | (5.35) | 2421 | 0.60 | † | 1.43 | † | 0.21 |
| (2.92) | 24.50 | 7.92 | 11027 | 0.60 | <sup>(1)</sup> | 3.65 | <sup>(3)</sup> | 15.69 |
| (1.19) | 25.50 | 7.09 | 2550 | 0.60 | †<sup>(1)</sup> | 1.96 | †<sup>(3)</sup> | 2.51 |

---

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

*104*

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**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 and two of which were operational. The financial statements herein and the related notes pertain to the Global X S&P 500® Covered Call ETF, Global X NASDAQ 100<sup>®</sup> Covered Call ETF, Global X Russell 2000 Covered Call ETF, Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF, Global X S&P 500<sup>®</sup> Covered Call & Growth ETF, Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF, Global X S&P 500<sup>®</sup> Risk Managed Income ETF, Global X Dow 30<sup>®</sup> Covered Call ETF, Global X Russell 2000 Covered Call & Growth ETF, Global X Information Technology Covered Call & Growth ETF, Global X Dow 30<sup>®</sup> Covered Call & Growth ETF and Global X MLP & Energy Infrastructure Covered Call ETF (each a "Fund", and collectively, the "Funds").

Each Fund (except the Global X Russell 2000 Covered Call ETF, Global X Russell 2000 Covered Call & Growth ETF, Global X S&P 500<sup>®</sup> Covered Call ETF, Global X S&P 500<sup>®</sup> Covered Call & Growth ETF and Global X S&P 500<sup>®</sup> Risk Managed Income ETF) has elected non-diversified status under the 1940 Act.

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 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.

*105*

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**Notes to Financial Statements (Continued)**

**October 31, 2025**

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2. SIGNIFICANT ACCOUNTING POLICIES (continued)

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 levels. As the general partner increases cash distributions to the limited partners, the general partner receives an increasingly higher percentage of the incremental cash distributions.

SECURITY VALUATION — Securities listed on a securities exchange, market or automated quotation system for which quotations are readily available (except for securities traded on the NASDAQ Stock Market ("NASDAQ")), including securities traded over the counter, are valued at the last quoted sale price on the primary exchange or market (foreign or domestic) on which they are traded (or at approximately 4:00 pm Eastern Standard Time if a security's primary exchange is normally open at that time), or, if there is no such reported sale, at the most recent mean between the quoted bid and asked prices, which approximates fair value (absent both bid and asked prices on such exchange, the bid price may be used).

*106*

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**Notes to Financial Statements (Continued)**

**October 31, 2025**

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2. SIGNIFICANT ACCOUNTING POLICIES (continued)

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, the Funds may fair value a 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

*107*

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**Notes to Financial Statements (Continued)**

**October 31, 2025**

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2. SIGNIFICANT ACCOUNTING POLICIES (continued)

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 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

*108*

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**Notes to Financial Statements (Continued)**

**October 31, 2025**

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2. SIGNIFICANT ACCOUNTING POLICIES (continued)

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 restricted cash) as an asset and the obligation to return securities lending collateral as a liability on the Statements of Assets and Liabilities.

Repurchase agreements are entered into by the Funds under Master Repurchase Agreements ("MRA") which permit the Funds, under certain circumstances, including an event of default (such as bankruptcy or insolvency), to offset payables and/or receivables under 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. 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

*109*

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**Notes to Financial Statements (Continued)**

**October 31, 2025**

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2. SIGNIFICANT ACCOUNTING POLICIES (continued)

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 period 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 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.

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.

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

*110*

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**Notes to Financial Statements (Continued)**

**October 31, 2025**

------

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

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.

In June 2024, the Global X Russell 2000 Covered Call ETF transitioned from holding the underlying constituents of the Russell 2000 Index to holding the Global X Russell 2000 ETF. Dividends from the underlying constituents of the Russell 2000 Index received through June 2024 were reported as Dividend Income on the Statement of Operations as of the year-ended October 31, 2024. Adjustments to estimates for REITs held through June 2024 to actual amounts of income, return of capital, and capital gains, as described above, resulted in a reclassification of $800,102 from Dividend Income to Realized Gains on Investments as reported on the Statement of Operations as of October 31, 2025.

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:

---

| | | | |
|:---|:---|:---|:---|
|  | **Creation<br> Unit<br> Shares** | **Creation<br> Fee** | **Redemption<br> Fee** |
| Global X S&P 500<sup>®</sup> Covered Call ETF | 10000 | $1700 | $1700 |
| Global X NASDAQ 100<sup>®</sup> Covered Call ETF | 10000 | 300 | 300 |
| Global X Russell 2000 Covered Call ETF | 10000 | 250 | 250 |
| Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF | 10000 | 250 | 250 |
| Global X S&P 500<sup>®</sup> Covered Call & Growth ETF | 10000 | 800 | 800 |
| Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF | 10000 | 250 | 250 |
| Global X S&P 500<sup>®</sup> Risk Managed Income ETF | 10000 | 800 | 800 |
| Global X Dow 30<sup>®</sup> Covered Call ETF | 10000 | 250 | 250 |
| Global X Russell 2000 Covered Call & Growth ETF | 10000 | 250 | 250 |
| Global X Information Technology Covered Call & Growth ETF | 10000 | 250 | 250 |
| Global X Dow 30<sup>®</sup> Covered Call & Growth ETF | 10000 | 250 | 250 |
| Global X MLP & Energy Infrastructure Covered Call ETF | 10000 | 50 | 50 |

---

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

*111*

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**Notes to Financial Statements (Continued)**

**October 31, 2025**

------

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

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 the 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 Statement 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.

The Global X S&P 500<sup>®</sup> Covered Call ETF , Global X NASDAQ 100<sup>®</sup> Covered Call ETF, Global X Russell 2000 Covered Call ETF, Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF, Global X S&P 500<sup>®</sup> Covered Call & Growth ETF, Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF, Global X S&P 500<sup>®</sup> Risk Managed Income ETF, Global X Dow 30<sup>®</sup> Covered Call ETF, Global X Russell 2000 Covered Call & Growth ETF, Global X Information Technology Covered Call & Growth ETF, Global X Dow 30<sup>®</sup> Covered Call & Growth ETF and Global X MLP & Energy Infrastructure Covered Call ETF may

*112*

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**Notes to Financial Statements (Continued)**

**October 31, 2025**

------

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

write covered call and/or put options that correspond to their respective reference index. By writing a covered 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 reasonably necessary for the operation of the Funds, including certain distribution services (provided pursuant to a separate distribution agreement), certain shareholder and

*113*

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**Notes to Financial Statements (Continued)**

**October 31, 2025**

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3. RELATED PARTIES AND SERVICE PROVIDER TRANSACTIONS (continued)

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 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).

The Supervision and Administration Agreement for the Funds provides that the Adviser also bears the costs for acquired fund fees and expenses generated by investments by the Funds in affiliated investment companies. For the year ended October 31, 2025, the Adviser paid acquired fund fees and expenses of $62, $714,393, $47,077 and $5,895 for the Global X S&P 500 Covered Call ETF, Global X Russell 2000 Covered Call ETF, Global X MLP & Energy Infrastructure Covered Call ETF and Global X Russell 2000 Covered Call & Growth ETF, respectively, and made such reimbursement payments to the Funds on a monthly basis. These amounts are included in Payment from Adviser on the Statements of Operations.

The following table discloses supervision and administration fees payable pursuant to the Supervision and Administration Agreement:

---

| | |
|:---|:---|
|  | **Supervision and**<br> **Administration Fee** |
| Global X S&P 500<sup>®</sup> Covered Call ETF | 0.60% |
| Global X NASDAQ 100<sup>®</sup> Covered Call ETF | 0.60% |
| Global X Russell 2000 Covered Call ETF | 0.60% |
| Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF | 0.35% |
| Global X S&P 500<sup>®</sup> Covered Call & Growth ETF | 0.35% |
| Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF | 0.60% |
| Global X S&P 500<sup>®</sup> Risk Managed Income ETF | 0.60% |
| Global X Dow 30<sup>®</sup> Covered Call ETF | 0.60% |
| Global X Russell 2000 Covered Call & Growth ETF | 0.35% |
| Global X Information Technology Covered Call & Growth ETF<sup>(1)</sup> | 0.60% |
| Global X Dow 30<sup>®</sup> Covered Call & Growth ETF | 0.35% |
| Global X MLP & Energy Infrastructure Covered Call ETF | 0.60% |

---

<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 Information Technology Covered Call & Growth ETF

*114*

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**Notes to Financial Statements (Continued)**

**October 31, 2025**

------

3. RELATED PARTIES AND SERVICE PROVIDER TRANSACTIONS (continued)

to the extent necessary to assure that the operating expenses of the Global X Information Technology Covered Call & Growth ETF (exclusive of taxes, brokerage fees, commissions, and other transaction expenses, interest and extraordinary expenses (such as litigation and indemnification expenses)) will not exceed 0.60% of the average daily net assets of the Global X Information Technology Covered Call & Growth 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 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 S&P 500<sup>®</sup> Covered Call ETF, Global X NASDAQ 100<sup>®</sup> Covered Call ETF, Global X Russell 2000 Covered Call ETF, Global X Dow 30<sup>®</sup> Covered Call ETF, and the Global X MLP & Energy Infrastructure Covered Call 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

*115*

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**Notes to Financial Statements (Continued)**

**October 31, 2025**

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3. RELATED PARTIES AND SERVICE PROVIDER TRANSACTIONS (continued)

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.

For all Funds other than the Global X S&P 500<sup>®</sup> Covered Call ETF, Global X NASDAQ 100<sup>®</sup> Covered Call ETF, Global X Russell 2000 Covered Call ETF, Global X Dow 30<sup>®</sup> Covered Call ETF, and the Global X MLP & Energy Infrastructure Covered Call 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 S&P 500<sup>®</sup> Covered Call ETF | $282214238 | $845592132 |
| Global X NASDAQ 100<sup>®</sup> Covered Call ETF | 2092854773 | 4325852815 |
| Global X Russell 2000 Covered Call ETF | 155496643 | 345985816 |
| Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF | 15733977 | 46732455 |
| Global X S&P 500<sup>®</sup> Covered Call & Growth ETF | 3031232 | 17215604 |
| Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF | 3413125 | 8465967 |
| Global X S&P 500<sup>®</sup> Risk Managed Income ETF | 4435404 | 13822530 |
| Global X Dow 30<sup>®</sup> Covered Call ETF | 16859382 | 32100982 |
| Global X Russell 2000 Covered Call & Growth ETF | 385691 | 1943828 |
| Global X Information Technology Covered Call & Growth ETF | 451165 | 1972075 |
| Global X Dow 30<sup>®</sup> Covered Call & Growth ETF | 292539 | 592043 |
| Global X MLP & Energy Infrastructure Covered Call ETF | 1604422 | 1670272 |

---

During the year ended October 31, 2025, there were no purchases or sales of long-term U.S. Government securities for the Funds.

*116*

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**Notes to Financial Statements (Continued)**

**October 31, 2025**

------

4. INVESTMENT TRANSACTIONS (continued)

For the year ended October 31, 2025, in-kind transactions associated with creations and redemptions were:

---

| | | | |
|:---|:---|:---|:---|
|  | **Purchases** | **Sales** | **Realized<br> Gain (Loss)** |
| Global X S&P 500<sup>®</sup> Covered Call ETF | $878205876 | $504981281 | $217465564 |
| Global X NASDAQ 100<sup>®</sup> Covered Call ETF | 1603917345 | 1311905870 | 716248479 |
| Global X Russell 2000 Covered Call ETF | 124030179 | 218286338 | 20383724 |
| Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF | 34951966 | 10625551 | 4150441 |
| Global X S&P 500<sup>®</sup> Covered Call & Growth ETF | 23770263 | 22757695 | 6791542 |
| Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF | 3981852 | 3134738 | 1351494 |
| Global X S&P 500<sup>®</sup> Risk Managed Income ETF | 9717893 | 2950948 | 1292850 |
| Global X Dow 30<sup>®</sup> Covered Call ETF | 54400880 | 6288697 | 3649670 |
| Global X Russell 2000 Covered Call & Growth ETF | 3585835 | 1188514 | (33235) |
| Global X Information Technology Covered Call & Growth ETF | 2357525 | 1029184 | 482046 |
| Global X Dow 30<sup>®</sup> Covered Call & Growth ETF | 2611530 | 535217 | 136781 |
| Global X MLP & Energy Infrastructure Covered Call ETF | 21846794 | 12783845 | 545126 |

---

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.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Asset Derivatives | Asset Derivatives | Asset Derivatives | Liability Derivatives | Liability Derivatives | Liability Derivatives |
|  |  | Fair Value |  |  | Fair Value |
| **Global X S&P 500**<sup>®</sup> **Covered Call ETF** | **Global X S&P 500**<sup>®</sup> **Covered Call ETF** | **Global X S&P 500**<sup>®</sup> **Covered Call ETF** |  |  |  |
| Equity contracts | Investments, at value | $– | Equity contracts | Options written, at value | $123527015 |
| Total Derivatives not accounted for as hedging instruments | Total Derivatives not accounted for as hedging instruments | $– |  |  | $123527015 |
| **Global X NASDAQ 100**<sup>®</sup> **Covered Call ETF** | **Global X NASDAQ 100**<sup>®</sup> **Covered Call ETF** |  |  |  |  |
| Equity contracts | Investments, at value | $– | Equity contracts | Options written, at value | $481225940 |
| Total Derivatives not accounted for as hedging instruments | Total Derivatives not accounted for as hedging instruments | $– |  |  | $481225940 |

---

*117*

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**Notes to Financial Statements (Continued)**

**October 31, 2025**

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5. DERIVATIVE TRANSACTIONS (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Asset Derivatives | Asset Derivatives | Asset Derivatives |  | Liability Derivatives | Liability Derivatives | Liability Derivatives |
|  |  | Fair Value |  |  |  | Fair Value |
| Global X Russell 2000 Covered Call ETF | Global X Russell 2000 Covered Call ETF |  |  |  |  |  |
| Equity contracts | Investments, at value | $– |  | Equity contracts | Options written, at value | $36860240 |
| Total Derivatives not accounted for as hedging instruments | Total Derivatives not accounted for as hedging instruments | $– |  |  |  | $36860240 |
| **Global X Nasdaq 100**<sup>®</sup> **Covered Call & Growth ETF** | **Global X Nasdaq 100**<sup>®</sup> **Covered Call & Growth ETF** |  |  |  |  |  |
| Equity contracts | Investments, at value | $– |  | Equity contracts | Options written, at value | $3485040 |
| Total Derivatives not accounted for as hedging instruments | Total Derivatives not accounted for as hedging instruments | $– |  |  |  | $3485040 |
| **Global X S&P 500**<sup>®</sup> **Covered Call & Growth ETF** | **Global X S&P 500**<sup>®</sup> **Covered Call & Growth ETF** |  |  |  |  |  |
| Equity contracts | Investments, at value | $– |  | Equity contracts | Options written, at value | $1090805 |
| Total Derivatives not accounted for as hedging instruments | Total Derivatives not accounted for as hedging instruments | $– |  |  |  | $1090805 |
| **Global X NASDAQ 100**<sup>®</sup> **Risk Managed Income ETF** | **Global X NASDAQ 100**<sup>®</sup> **Risk Managed Income ETF** |  |  |  |  |  |
| Equity contracts | Investments, at value | $34141 | \*\* | Equity contracts | Options written, at value | $1018468 |
| Total Derivatives not accounted for as hedging instruments | Total Derivatives not accounted for as hedging instruments | $34141 |  |  |  | $1018468 |
| **Global X S&P 500**<sup>®</sup> **Risk Managed Income ETF** | **Global X S&P 500**<sup>®</sup> **Risk Managed Income ETF** |  |  |  |  |  |
| Equity contracts | Investments, at value | $62562 | \*\* | Equity contracts | Options written, at value | $1750849 |
| Total Derivatives not accounted for as hedging instruments | Total Derivatives not accounted for as hedging instruments | $62562 |  |  |  | $1750849 |
| **Global X Dow 30**<sup>®</sup> **Covered Call ETF** | **Global X Dow 30**<sup>®</sup> **Covered Call ETF** |  |  |  |  |  |
| Equity contracts | Investments, at value | $– |  | Equity contracts | Options written, at value | $5307120 |
| Total Derivatives not accounted for as hedging instruments | Total Derivatives not accounted for as hedging instruments | $– |  |  |  | $5307120 |

---

*118*

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**Notes to Financial Statements (Continued)**

**October 31, 2025**

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5. DERIVATIVE TRANSACTIONS (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Asset Derivatives | Asset Derivatives | Asset Derivatives | Liability Derivatives | Liability Derivatives | Liability Derivatives |
|  |  | Fair Value |  |  | Fair Value |
| Global X Russell 2000 Covered Call & Growth ETF | Global X Russell 2000 Covered Call & Growth ETF |  |  |  |  |
| Equity contracts | Investments, at value | $– | Equity contracts | Options written, at value | $116810 |
| Total Derivatives not accounted for as hedging instruments | Total Derivatives not accounted for as hedging instruments | $– |  |  | $116810 |
| Global X Information Technology Covered Call & Growth ETF | Global X Information Technology Covered Call & Growth ETF | Global X Information Technology Covered Call & Growth ETF |  |  |  |
| Equity contracts | Investments, at value | $– | Equity contracts | Options written, at value | $353161 |
| Total Derivatives not accounted for as hedging instruments | Total Derivatives not accounted for as hedging instruments | $– |  |  | $353161 |
| **Global X Dow 30**<sup>®</sup> **Covered Call & Growth ETF** | **Global X Dow 30**<sup>®</sup> **Covered Call & Growth ETF** |  |  |  |  |
| Equity contracts | Investments, at value | $– | Equity contracts | Options written, at value | $80080 |
| Total Derivatives not accounted for as hedging instruments | Total Derivatives not accounted for as hedging instruments | $– |  |  | $80080 |
| Global X MLP & Energy Infrastructure Covered Call ETF | Global X MLP & Energy Infrastructure Covered Call ETF |  |  |  |  |
| Equity contracts | Investments, at value | $– | Equity contracts | Options written, at value | $136792 |
| Total Derivatives not accounted for as hedging instruments | Total Derivatives not accounted for as hedging instruments | $– |  |  | $136792 |

---

\*\* Includes purchased options and/or swaptions.

*119*

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Notes to Financial Statements (Continued)

**October 31, 2025**

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5. DERIVATIVE TRANSACTIONS (continued)

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 the Statements of Operations:

---

| | | |
|:---|:---|:---|
| | Purchased<br> Options | Written<br> Options |
| **Global X S&P 500<sup>®</sup> Covered Call ETF** |  |  |
| Equity contracts | $— | $(222465166) |
| **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** |  |  |
| Equity contracts | $— | $(1238675987) |
| **Global X Russell 2000 Covered Call ETF** |  |  |
| Equity contracts | $— | $(42758153) |
| **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** |  |  |
| Equity contracts | $— | $(6833175) |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** |  |  |
| Equity contracts | $— | $(1573621) |
| **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** |  |  |
| Equity contracts | $(198381) | $(2766506) |
| **Global X S&P 500<sup>®</sup> Risk Managed Income ETF** |  |  |
| Equity contracts | $(952129) | $(3355582) |
| **Global X Dow 30<sup>®</sup> Covered Call ETF** |  |  |
| Equity contracts | $— | $(3371975) |
| **Global X Russell 2000 Covered Call & Growth ETF** |  |  |
| Equity contracts | $— | $(160778) |
| **Global X Information Technology Covered Call & Growth ETF** |  |  |
| Equity contracts | $— | $(734029) |
| **Global X Dow 30<sup>®</sup> Covered Call & Growth ETF** |  |  |
| Equity contracts | $— | $(27238) |
| **Global X MLP & Energy Infrastructure Covered Call ETF** |  |  |
| Equity contracts | $— | $703716 |

---

*120*

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Notes to Financial Statements (Continued)

**October 31, 2025**

------

5. DERIVATIVE TRANSACTIONS (continued)

Change in unrealized appreciation (depreciation) on derivatives reported within the income section of the Statements of Operations:

---

| | | |
|:---|:---|:---|
| | Purchased<br> Options | Written<br> Options |
| **Global X S&P 500<sup>®</sup> Covered Call ETF** |  |  |
| Equity contracts | $— | $(80038498) |
| **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** |  |  |
| Equity contracts | $— | $(305380710) |
| **Global X Russell 2000 Covered Call ETF** |  |  |
| Equity contracts | $— | $(22065573) |
| **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** |  |  |
| Equity contracts | $— | $(2116354) |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** |  |  |
| Equity contracts | $— | $(772422) |
| **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** |  |  |
| Equity contracts | $(254219) | $(647195) |
| **Global X S&P 500<sup>®</sup> Risk Managed Income ETF** |  |  |
| Equity contracts | $(514694) | $(1122229) |
| **Global X Dow 30<sup>®</sup> Covered Call ETF** |  |  |
| Equity contracts | $— | $(2284518) |
| **Global X Russell 2000 Covered Call & Growth ETF** |  |  |
| Equity contracts | $— | $(45219) |
| **Global X Information Technology Covered Call & Growth ETF** |  |  |
| Equity contracts | $— | $(252278) |
| **Global X Dow 30<sup>®</sup> Covered Call & Growth ETF** |  |  |
| Equity contracts | $— | $(34886) |
| **Global X MLP & Energy Infrastructure Covered Call ETF** |  |  |
| Equity contracts | $— | $29610 |

---

*121*

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Notes to Financial Statements (Continued)

**October 31, 2025**

------

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 S&P 500<sup>®</sup> Covered Call ETF | $(62638963) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |
| Global X NASDAQ 100<sup>®</sup> Covered Call ETF | (211699637) |  |
| Global X Russell 2000 Covered Call ETF | (36341539) |  |
| Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF | (1296085) |  |
| Global X S&P 500<sup>®</sup> Covered Call & Growth ETF | (554391) |  |
| Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF | (470466) | 146618 |
| Global X S&P 500<sup>®</sup> Risk Managed Income ETF | (914973) | 246910 |
| Global X Dow 30<sup>®</sup> Covered Call ETF | (1861969) |  |
| Global X Russell 2000 Covered Call & Growth ETF | (97384) |  |
| Global X Information Technology Covered Call & Growth ETF | (141556) |  |
| Global X Dow 30<sup>®</sup> Covered Call & Growth ETF | (18756) |  |
| Global X MLP & Energy Infrastructure Covered Call ETF | (256272) |  |

---

6. TAX INFORMATION

The amount and character of income and capital gain distributions to be paid, if any, are determined in accordance with Federal income tax regulations, which may differ from U.S. GAAP. As a result, net investment income (loss) and net realized gain (loss) on investment transactions for a reporting period may differ significantly from distributions during such period. These book/tax differences may be temporary or permanent. To the extent these differences are permanent in nature, they are charged or credited to distributable earnings (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 Paid-in-Capital and Total Earnings (Accumulated Losses) accounts during the fiscal year ended October 31, 2025 are primarily attributable to redemption in kind, reclass of distributions, return of capital, equalization and adviser expense waivers.

*122*

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Notes to Financial Statements (Continued)

**October 31, 2025**

------

6. TAX INFORMATION (continued)

The tax character of dividends and distributions declared during the years or periods 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 S&P 500<sup>®</sup> Covered Call ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $336957257 | $38916537 | $9611596 | $385485390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 269977983 |  |  | 269977983 |
| &nbsp;&nbsp;Global X NASDAQ 100<sup>®</sup> Covered Call ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $812726459 | $123553342 | $131971829 | $1068251630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 949453576 |  |  | 949453576 |
| &nbsp;&nbsp;Global X Russell 2000 Covered Call ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $14289808 | $– | $148158827 | $162448635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 12155274 |  | 157500393 | 169655667 |
| &nbsp;&nbsp;Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $23859758 | $585853 | $– | $24445611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 6726354 |  |  | 6726354 |
| &nbsp;&nbsp;Global X S&P 500<sup>®</sup> Covered Call & Growth ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $13163102 | $– | $– | $13163102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 2972756 |  |  | 2972756 |
| &nbsp;&nbsp;Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $654724 | $– | $1539180 | $2193904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 43082 |  | 1631699 | 1674781 |
| &nbsp;&nbsp;Global X S&P 500<sup>®</sup> Risk Managed Income ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $2572914 | $181911 | $2675570 | $5430395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 594200 |  | 3431396 | 4025596 |
| &nbsp;&nbsp;Global X Dow 30<sup>®</sup> Covered Call ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $14212482 | $305975 | $– | $14518457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 5821224 |  |  | 5821224 |
| &nbsp;&nbsp;Global X Russell 2000 Covered Call & Growth ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $1485255 | $– | $– | $1485255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 588288 |  |  | 588288 |
| &nbsp;&nbsp;Global X Information Technology Covered Call & Growth ETF | &nbsp;&nbsp;Global X Information Technology Covered Call & Growth ETF |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $695323 | $– | $152513 | $847836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 698442 |  | 40076 | 738518 |
| &nbsp;&nbsp;Global X Dow 30<sup>®</sup> Covered Call & Growth ETF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $335225 | $4360 | $– | $339585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 75986 |  |  | 75986 |
| &nbsp;&nbsp;Global X MLP & Energy Infrastructure Covered Call ETF | &nbsp;&nbsp;Global X MLP & Energy Infrastructure Covered Call ETF |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | $1194015 | $– | $– | $1194015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 114089 |  | 4801 | 118890 |

---

On February 21, 2025 Global X S&P 500 ESG Covered Call ETF and Global X NASDAQ 100 ESG Covered Call ETF closed and paid long term capital gain distributions of $11,907 and $39,586 respectively. The tax character of the distributions will be communicated on Form 1099DIV in 2026.

*123*

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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 S&P<br> 500<sup>®</sup> Covered<br> Call ETF** | **Global X<br> NASDAQ 100<sup>®</sup><br> Covered Call<br> ETF** | **Global X Russell<br> 2000 Covered<br> Call ETF** | **Global X<br> Nasdaq 100<sup>®</sup><br> Covered Call &<br> Growth ETF** |
| **Undistributed Ordinary Income** | $– | $– | $– | $13250424 |
| **Capital Loss Carryforwards** |  |  | (48556117) |  |
| **Unrealized Depreciation on Investments and Foreign Currency** |  |  | (30) |  |
| **Other Temporary Differences** | 5379 | 7 | 6 | 1 |
| **Total Distributable Earnings (Accumulated Losses)** | $5379 | $7 | $(48556141) | $13250425 |
|  | **Global X S&P<br> 500<sup>®</sup> Covered<br> Call & Growth<br> ETF** | **Global X<br> NASDAQ 100<sup>®</sup><br> Risk Managed<br> Income ETF** | **Global X S&P<br> 500<sup>®</sup> Risk<br> Managed<br> Income ETF** | **Global X Dow<br> 30<sup>®</sup> Covered<br> Call ETF** |
| **Undistributed Ordinary Income** | $4598659 | $– | $– | $1403205 |
| **Undistributed Long-Term Capital Gain** | 281808 |  |  | 1948837 |
| **Unrealized Depreciation on Investments and Foreign Currency** |  | (1) |  |  |
| **Other Temporary Differences** | (22) | 4 | 1 | (1) |
| **Total Distributable Earnings** | $4880445 | $3 | $1 | $3352041 |
|  | **Global X Russell<br> 2000 Covered<br> Call & Growth<br> ETF** | **Global X<br> Information<br> Technology<br> Covered Call &<br> Growth ETF** | **Global X Dow<br> 30<sup>®</sup> Covered<br> Call & Growth<br> ETF** | **Global X MLP<br> & Energy<br> Infrastructure<br> Covered Call<br> ETF** |
| **Undistributed Ordinary Income** | $241509 | $– | $298189 | $320495 |
| **Capital Loss Carryforwards** |  |  |  |  |
| **Unrealized Appreciation (Depreciation) on Investments and Foreign Currency** |  | 1533869 |  | (618656) |
| **Other Temporary Differences** | – | 5 | (1) | 1 |
| **Total Distributable Earnings (Accumulated Losses)** | $241509 | $1533874 | $298188 | $(298160) |

---

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.

*124*

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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 S&P 500<sup>®</sup> Covered Call ETF | $3052222013 | $1288857305 | $(1288857305) | $– |
| Global X NASDAQ 100<sup>®</sup> Covered Call ETF | 8090432679 | 4367933547 | (4367933547) |  |
| Global X Russell 2000 Covered Call ETF | 1253246640 | 228808202 | (228808232) | (30) |
| Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF | 123343599 | 52071146 | (52071146) |  |
| Global X S&P 500<sup>®</sup> Covered Call & Growth ETF | 54786061 | 16512282 | (16512282) |  |
| Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF | 17213482 | 7666932 | (7666933) | (1) |
| Global X S&P 500<sup>®</sup> Risk Managed Income ETF | 43368048 | 16890173 | (16890173) |  |
| Global X Dow 30<sup>®</sup> Covered Call ETF | 133433724 | 38609383 | (38609383) |  |
| Global X Russell 2000 Covered Call & Growth ETF | 8029983 | 1397655 | (1397655) |  |
| Global X Information Technology Covered Call & Growth ETF | 9630741 | 3578215 | (2044346) | 1533869 |
| Global X Dow 30<sup>®</sup> Covered Call & Growth ETF | 4120913 | 639278 | (639278) |  |
| Global X MLP & Energy Infrastructure Covered Call ETF | 11817984 |  | (618656) | (618656) |

---

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

*125*

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Notes to Financial Statements (Continued)

**October 31, 2025**

------

7. CONCENTRATION OF RISKS (continued)

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 S&P 500 Covered Call ETF, Global X Russell 2000 Covered Call ETF, the Global X Russell 2000 Covered Call & Growth ETF and the Global X Information Technology Covered Call & Growth ETF, which use 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 their 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 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. By writing (selling) call options in return for the receipt of premiums, a Fund will incur a loss when the value of a reference asset increases above the exercise price of such options, less any premiums received from the written calls. The premiums received from the options may not be sufficient to offset any losses sustained from the volatility of the underlying asset over time.

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.

*126*

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Notes to Financial Statements (Concluded)

**October 31, 2025**

------

8. 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.

9. 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.

10. 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.

*127*

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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 twelve 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 (twelve 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 S&P 500<sup>®</sup> Covered Call ETF (1)

Global X NASDAQ 100<sup>®</sup> Covered Call ETF (1)

Global X Russell 2000 Covered Call ETF (1)

Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF (1)

Global X S&P 500<sup>®</sup> Covered Call & Growth ETF (1)

Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF (1)

Global X S&P 500<sup>®</sup> Risk Managed Income ETF (1)

Global X Dow 30<sup>®</sup> Covered Call ETF (1)

Global X Russell 2000 Covered Call & Growth ETF (1)

Global X Information Technology Covered Call & Growth ETF (1)

Global X Dow 30<sup>®</sup> Covered Call & Growth ETF (1)

Global X MLP & Energy Infrastructure Covered Call ETF (2)

(1) Statements of operations for the year ended October 31, 2025
 and statements 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
 May 7, 2024 (commencement of operations) through October 31, 2024

*128*

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Report of Independent Registered Public Accounting Firm (Concluded)

------

**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 and brokers. 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.

*129*

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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 S&P 500<sup>®</sup> Covered Call ETF** |  |  |  |  |  |
| 2.49% | 10.10% | 87.41% | 100.00% | 0.00% | 0.00% |
| **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** |  |  |  |  |  |
| 12.35% | 11.57% | 76.08% | 100.00% | 0.00% | 0.00% |
| **Global X Russell 2000 Covered Call ETF** |  |  |  |  |  |
| 91.20% | 0.00% | 8.80% | 100.00% | 0.00% | 0.00% |
| **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** | **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** | **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** | **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** |  |  |
| 0.00% | 2.40% | 97.60% | 100.00% | 0.00% | 0.00% |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** | **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 0.00% | 0.00% |
| **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** | **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** | **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** | **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** |  |  |
| 70.16% | 0.00% | 29.84% | 100.00% | 0.00% | 0.00% |
| **Global X S&P 500<sup>®</sup> Risk Managed Income ETF** | **Global X S&P 500<sup>®</sup> Risk Managed Income ETF** | **Global X S&P 500<sup>®</sup> Risk Managed Income ETF** | **Global X S&P 500<sup>®</sup> Risk Managed Income ETF** |  |  |
| 49.27% | 3.35% | 47.38% | 100.00% | 0.00% | 0.00% |
| **Global X Dow 30<sup>®</sup> Covered Call ETF** |  |  |  |  |  |
| 0.00% | 2.11% | 97.89% | 100.00% | 0.00% | 0.00% |
| **Global X Russell 2000 Covered Call & Growth ETF** | **Global X Russell 2000 Covered Call & Growth ETF** | **Global X Russell 2000 Covered Call & Growth ETF** | **Global X Russell 2000 Covered Call & Growth ETF** |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 0.00% | 0.00% |
| **Global X Financials Covered Call & Growth ETF** | **Global X Financials Covered Call & Growth ETF** | **Global X Financials Covered Call & Growth ETF** | **Global X Financials Covered Call & Growth ETF** |  |  |
| 0.44% | 0.00% | 99.56% | 100.00% | 2.77% | 2.87% |
| **Global X Information Technology Covered Call & Growth ETF** | **Global X Information Technology Covered Call & Growth ETF** | **Global X Information Technology Covered Call & Growth ETF** | **Global X Information Technology Covered Call & Growth ETF** |  |  |
| 17.99% | 0.00% | 82.01% | 100.00% | 0.00% | 0.00% |
| **Global X Dow 30<sup>®</sup> Covered Call & Growth ETF** | **Global X Dow 30<sup>®</sup> Covered Call & Growth ETF** | **Global X Dow 30<sup>®</sup> Covered Call & Growth ETF** | **Global X Dow 30<sup>®</sup> Covered Call & Growth ETF** |  |  |
| 0.00% | 1.28% | 98.72% | 100.00% | 0.00% | 0.00% |
| **Global X MLP & Energy Infrastructure Covered Call ETF** | **Global X MLP & Energy Infrastructure Covered Call ETF** | **Global X MLP & Energy Infrastructure Covered Call ETF** | **Global X MLP & Energy Infrastructure Covered Call ETF** |  |  |
| 0.00% | 0.00% | 100.00% | 100.00% | 0.00% | 0.00% |

---

(1) Qualifying dividends represent dividends which qualify for the corporate dividends received deduction and is reflected as a percentage of ordinary income distributions (the total of short term capital gain and net investment income distributions).

*130*

![](logom4.jpg)

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 S&P 500<sup>®</sup> Covered Call ETF** |  |  |  |  |
| 0.00% | 0.14% | 100.00% | 0.51% | 0.00% |
| **Global X NASDAQ 100<sup>®</sup> Covered Call ETF** |  |  |  |  |
| 0.00% | 0.12% | 100.00% | 0.00% | 0.00% |
| **Global X Russell 2000 Covered Call ETF** |  |  |  |  |
| 0.00% | 0.83% | 0.00% | 5.08% | 0.00% |
| **Global X Nasdaq 100<sup>®</sup> Covered Call & Growth ETF** |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 0.00% | 0.00% |
| **Global X S&P 500<sup>®</sup> Covered Call & Growth ETF** |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 0.30% | 0.00% |
| **Global X NASDAQ 100<sup>®</sup> Risk Managed Income ETF** |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 0.00% | 0.00% |
| **Global X S&P 500<sup>®</sup> Risk Managed Income ETF** |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 0.00% | 0.00% |
| **Global X Dow 30<sup>®</sup> Covered Call ETF** |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 0.00% | 0.00% |
| **Global X Russell 2000 Covered Call & Growth ETF** |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 0.00% | 0.00% |
| **Global X Financials Covered Call & Growth ETF** |  |  |  |  |
| 0.00% | 0.09% | 100.00% | 0.00% | 0.00% |
| **Global X Information Technology Covered Call & Growth ETF** |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 0.00% | 0.00% |
| **Global X Dow 30<sup>®</sup> Covered Call & Growth ETF** |  |  |  |  |
| 0.00% | 0.00% | 100.00% | 0.00% | 0.00% |
| **Global X MLP & Energy Infrastructure Covered Call ETF** |  |  |  |  |
| 0.00% | 0.10% | 100.00% | 0.00% | 0.00% |

---

(3) "U.S. Government Interest" represents the amount of interest that was derived from U.S. Government obligations and distributed during the fiscal year. Generally, interest from direct U.S. Government obligations is exempt from state income tax. However, for shareholders who are residents of California, Connecticut and New York, the statutory threshold requirements were not satisfied to permit exemption of these amounts from state income.

(5) The percentage of this column represents the amount of "Short Term Capital Gain Dividend" and is reflected as a percentage of short term capital gain distribution that is exempted from U.S. withholding tax when paid to foreign investors.

(6) The percentage of this column represents that amount of ordinary dividend income that qualified for 20% Business Income Deduction.

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.

*131*

![](logom4.jpg)

**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.**

Not applicable.

*132*

![](logom4.jpg)

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-012-0200

**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.](c114720_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.](c114720_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.](c114720_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 |

---