Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Education ETF

	Shares		Value
COMMON STOCK — continued
JAPAN — 7.0%
Communication Services — 1.7%
Gakken Holdings		3,124	$	20,568
V-Cube		6,642		44,867
				65,435


Consumer Discretionary — 4.0%
Benesse Holdings		7,243		115,983
Media Do		1,144		16,807
Riso Kyoiku		10,972		29,083
				161,873


Industrials — 1.3%
Insource		3,039		53,294


TOTAL JAPAN				280,602
NORWAY — 2.6%
Communication Services — 2.6%
Kahoot! ^*		34,669		103,004


SOUTH KOREA — 1.5%
Consumer Discretionary — 1.5%
MegaStudyEdu		834		62,287


UNITED KINGDOM — 10.3%
Communication Services — 10.3%
Pearson		43,778		416,229


UNITED STATES — 53.2%
Communication Services — 9.7%
Bandwidth, Cl A ^*		6,236		131,205
John Wiley & Sons, Cl A		3,308		175,192
Scholastic		2,305		86,507
				392,904


Consumer Discretionary — 27.5%
2U *		5,364		49,992

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Education ETF

	Shares		Value
COMMON STOCK — continued
Consumer Discretionary — continued
Bright Horizons Family Solutions ^*		3,428	$	310,405
Chegg ^*		8,979		174,731
Coursera ^*		10,187		172,262
Duolingo, Cl A ^*		1,601		133,860
Stride ^*		3,033		118,621
Udemy ^*		9,890		145,878
				1,105,749


Industrials — 1.7%
Skillsoft ^*		11,449		67,091


Information Technology — 14.3%
8x8 *		19,916		144,391
Brightcove ^*		11,033		77,672
RingCentral, Cl A ^*		2,175		137,330
Zoom Video Communications, Cl A ^*		2,006		215,545
				574,938


TOTAL UNITED STATES				2,140,682
TOTAL COMMON STOCK
(Cost $10,481,009)				4,016,022
TOTAL INVESTMENTS — 99.8%
(Cost $10,481,009)			$	4,016,022

Percentages are based on Net Assets of $4,024,661.

*	Non-income producing security.

ADR — American Depositary Receipt

Cl — Class

As of May 31, 2022, all of the Fund’s investments were considered Level 1, in accordance with authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Cannabis ETF

	Shares		Value
COMMON STOCK — 100.0%
AUSTRALIA — 2.1%
Health Care — 2.1%
Creso Pharma ^{* (A)}		33,032,219	$	1,255,870


CANADA — 66.9%
Consumer Staples — 2.3%
Flora Growth ^{* (A)}		1,436,011		1,436,011


Financials — 4.8%
Fire & Flower Holdings ^{* (A)}		1,054,222		2,900,496


Health Care — 59.8%
Aurora Cannabis ^{* (A)}		1,820,275		3,021,656
Auxly Cannabis Group ^{* (A)}		25,726,719		2,440,769
Canopy Growth ^{* (A)}		869,512		4,351,513
Cardiol Therapeutics, Cl A ^{* (A)}		1,382,290		1,825,058
Cronos Group ^*		1,809,094		5,449,380
HEXO ^{* (A)}		8,795,536		2,155,683
IM Cannabis ^{* (A)}		1,543,944		1,543,944
Organigram Holdings ^{* (A)}		3,942,977		4,582,501
Sundial Growers ^{* (A)}		11,687,708		4,585,088
Tilray Brands ^{* (A)}		1,095,598		4,919,235

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Cannabis ETF

	Shares		Value
COMMON STOCK — continued
Health Care — continued
Valens ^{* (A)}		1,788,157	$	1,413,730
				36,288,557

TOTAL CANADA				40,625,064
ISRAEL — 5.9%
Health Care — 5.9%
Intercure ^{* (A)}		552,167		3,561,477


UNITED STATES — 25.1%
Consumer Staples — 4.3%
Grove ^{* (A)}		475,037		2,636,455


Financials — 5.9%
AFC Gamma ^‡		198,938		3,564,969


Health Care — 11.9%
cbdMD ^*		1,313,095		906,167
Charlottes Web Holdings ^{* (A)}		3,238,587		1,433,853
Corbus Pharmaceuticals Holdings ^*		3,641,113		1,104,714
MyMD Pharmaceuticals ^*		940,509		2,830,932
Zynerba Pharmaceuticals ^*		971,734		930,435
				7,206,101


Industrials — 0.2%
India Globalization Capital ^{* (A)}		233,094		101,256


Real Estate — 2.8%
Power REIT ^{‡ *}		75,162		1,721,210


TOTAL UNITED STATES				15,229,991
TOTAL COMMON STOCK
(Cost $171,620,985)				60,672,402

SHORT-TERM INVESTMENT^(B)(C) — 16.9%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.600%
(Cost $10,283,600)		10,283,600		10,283,600

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Cannabis ETF

	Face Amount		Value
REPURCHASE AGREEMENT^(B) — 15.4%
BNP Paribas
0.740%, dated 05/31/2022, to be repurchased on 06/01/2022, repurchase price $9,338,524 (collateralized by various U.S. Treasury Obligations, ranging in par value $163,591 - $1,100,392, 0.250% - 2.750%, 09/30/2025 - 02/15/2028, with a total market value of $9,455,441)
(Cost $9,338,332)	$	9,338,332	$	9,338,332
TOTAL INVESTMENTS — 132.3%
(Cost $191,242,917)			$	80,294,334

Percentages are based on Net Assets of $60,703,132.

*	Non-income producing security.
‡	Real Estate Investment Trust
(A)	This security or a partial position of this security is on loan at May 31, 2022. The total value of securities on loan at May 31, 2022 was $17,831,556.
(B)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2022 was $19,621,932.
(C)	The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2022.

Cl — Class

REIT — Real Estate Investment Trust

The following is a summary of the level of inputs used as of May 31, 2022, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	60,672,402	$	—	$	—	$	60,672,402
Short-Term Investment		10,283,600		—		—		10,283,600
Repurchase Agreement		—		9,338,332		—		9,338,332
Total Investments in Securities	$	70,956,002	$	9,338,332	$	—	$	80,294,334

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

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Cannabis ETF

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

	Investments in Common Stock
Balance as of November 30, 2021	$	1,582,637
Transfers out of Level 3		(1,255,870	)
Transfers into Level 3		–
Net purchases		593,105
Net sales		(248,462	)
Realized gain/(loss)		(524,060	)
Change in unrealized appreciation/(depreciation)		(147,350	)
Ending Balance as of May 31, 2022	$	–

For the period ended May 31, 2022, the transfers in and out of Level 3 were due to changes in the availability of observable inputs to determine fair value.

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

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Genomics & Biotechnology ETF

	Shares		Value
COMMON STOCK — 100.0%
CHINA — 4.7%
Health Care — 4.7%
Genscript Biotech ^*		2,727,018	$	8,064,039


FRANCE — 0.4%
Health Care — 0.4%
Cellectis ADR ^{* (A)}		177,920		644,070


GERMANY — 7.3%
Health Care — 7.3%
BioNTech ADR		50,660		8,275,818
CureVac ^{* (A)}		218,388		4,213,401


TOTAL GERMANY				12,489,219
JAPAN — 1.5%
Health Care — 1.5%
Takara Bio		185,066		2,623,968


NETHERLANDS — 1.4%
Health Care — 1.4%
uniQure ^*		167,034		2,398,608


SWITZERLAND — 4.8%
Health Care — 4.8%
CRISPR Therapeutics ^{* (A)}		140,837		8,175,588

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Genomics & Biotechnology ETF

	Shares		Value
COMMON STOCK — continued
UNITED STATES — 79.9%
Health Care — 79.9%
2seventy bio ^*		149,044	$	1,848,146
Agilent Technologies		62,191		7,933,084
Allogene Therapeutics ^*		290,623		2,304,640
Alnylam Pharmaceuticals ^*		47,214		5,939,521
Arrowhead Pharmaceuticals ^*		175,760		5,863,354
Beam Therapeutics ^*		183,685		6,462,038
BioMarin Pharmaceutical ^*		91,114		6,845,395
Bionano Genomics ^{* (A)}		1,156,168		2,000,171
Bluebird Bio ^*		280,470		897,504
CareDx ^*		209,258		5,262,839
Caribou Biosciences ^{* (A)}		194,379		1,619,177
Editas Medicine, Cl A ^*		273,890		3,119,607
Fulgent Genetics ^*		84,798		4,622,339
Gilead Sciences		59,313		3,846,448
Illumina ^*		12,271		2,938,659
Intellia Therapeutics ^*		148,305		6,842,793
Invitae ^{* (A)}		902,881		3,313,573
Moderna ^*		25,641		3,726,406
Myriad Genetics ^*		308,737		5,940,100
NanoString Technologies ^*		178,926		2,798,403
Natera ^*		201,998		7,411,307
Pacific Biosciences of California ^*		881,219		4,961,263
QIAGEN ^*		161,536		7,422,579
REGENXBIO ^*		145,573		3,062,856
Rocket Pharmaceuticals ^*		239,454		2,837,530
Sangamo Therapeutics ^*		495,504		1,808,590
Sarepta Therapeutics ^*		98,859		7,198,912
Sorrento Therapeutics ^{* (A)}		1,279,879		2,099,002
Stoke Therapeutics ^*		71,150		861,626
Ultragenyx Pharmaceutical ^*		103,021		4,831,685
Veracyte ^*		282,057		4,958,562

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Genomics & Biotechnology ETF

	Shares/Face Amount		Value
COMMON STOCK — continued
Health Care — continued
Vertex Pharmaceuticals ^*		13,671	$	3,672,714
Verve Therapeutics ^{* (A)}		101,727		1,542,181


TOTAL UNITED STATES				136,793,004
TOTAL COMMON STOCK
(Cost $272,546,536)				171,188,496

SHORT-TERM INVESTMENT^(B)(C) — 2.2%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.600%
(Cost $3,747,016)		3,747,016		3,747,016

REPURCHASE AGREEMENT^(B) — 2.0%
BNP Paribas
0.740%, dated 05/31/2022, to be repurchased on 06/01/2022, repurchase price $3,480,772 (collateralized by various U.S. Treasury Obligations, ranging in par value $60,976 - $410,152, 0.250% - 2.750%, 09/30/2025 - 02/15/2028, with a total market value of $3,524,352)
(Cost $3,480,701)	$	3,480,701		3,480,701
TOTAL INVESTMENTS — 104.2%
(Cost $279,774,253)			$	178,416,213

Percentages are based on Net Assets of $171,225,300.

*	Non-income producing security.
(A)	This security or a partial position of this security is on loan at May 31, 2022. The total value of securities on loan at May 31, 2022 was $6,799,127.
(B)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2022 was $7,227,717.

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Genomics & Biotechnology ETF

(C)	The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2022.

ADR — American Depositary Receipt

Cl — Class

The following is a summary of the level of inputs used as of May 31, 2022, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	171,188,496	$	—	$	—	$	171,188,496
Short-Term Investment		3,747,016		—		—		3,747,016
Repurchase Agreement		—		3,480,701		—		3,480,701
Total Investments in Securities	$	174,935,512	$	3,480,701	$	—	$	178,416,213

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

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X China Biotech Innovation ETF

	Shares		Value
COMMON STOCK — 99.8%
CHINA — 99.8%
Consumer Staples — 4.5%
Anjoy Foods Group, Cl A		6,051	$	119,083


Health Care — 95.3%
3SBio ^*		66,500		49,416
Alphamab Oncology ^*		19,400		19,164
Ascentage Pharma Group International ^*		6,400		14,210
Beijing Bohui Innovation Biotechnology Group, Cl A ^*		12,900		12,187
Beijing SL Pharmaceutical, Cl A		21,700		31,968
Beijing Tiantan Biological Products, Cl A		25,257		85,231
Beijing Wantai Biological Pharmacy Enterprise, Cl A		3,615		68,946
Berry Genomics, Cl A ^*		8,355		16,211
BGI Genomics, Cl A		8,838		86,946
Changchun High & New Technology Industry Group, Cl A		9,347		232,129
Chengdu Kanghua Biological Products, Cl A		1,950		28,476
Chongqing Zhifei Biological Products, Cl A		14,100		184,245
CSPC Pharmaceutical Group		208,000		222,699
Daan Gene, Cl A		38,780		102,010
Genscript Biotech ^*		43,550		128,781
Getein Biotech, Cl A		7,800		21,849
Guangdong Hybribio Biotech, Cl A		9,763		30,110
Guangzhou Wondfo Biotech, Cl A		9,800		56,781
Hebei Changshan Biochemical Pharmaceutical, Cl A		17,700		16,403
Hualan Biological Engineering, Cl A		36,300		101,627
Joinn Laboratories China, Cl A		5,860		93,374

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X China Biotech Innovation ETF

	Shares		Value
COMMON STOCK — continued
Health Care — continued
JW Cayman Therapeutics ^*		10,600	$	10,093
Kintor Pharmaceutical ^*		7,300		22,285
PharmaBlock Sciences Nanjing, Cl A		5,781		71,689
Shanghai Haohai Biological Technology, Cl A		1,255		16,455
Shanghai RAAS Blood Products, Cl A		98,000		82,603
Shenzhen Kangtai Biological Products, Cl A		11,371		106,042
Shenzhen Neptunus Bioengineering, Cl A ^*		63,400		35,689
Sichuan Kelun Pharmaceutical, Cl A		27,100		72,260
Viva Biotech Holdings		37,000		11,743
Walvax Biotechnology, Cl A		27,700		192,549
Wuxi Biologics Cayman ^*		29,550		218,455
Zai Lab ADR ^*		2,738		79,676
				2,522,302


TOTAL CHINA				2,641,385
TOTAL COMMON STOCK
(Cost $3,705,418)				2,641,385
TOTAL INVESTMENTS — 99.8%
(Cost $3,705,418)			$	2,641,385

Percentages are based on Net Assets of $2,646,981.

*	Non-income producing security.

ADR — American Depositary Receipt

Cl — Class

As of May 31, 2022, all of the Fund’s investments were considered Level 1, in accordance with authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Telemedicine & Digital Health ETF

	Shares		Value
COMMON STOCK — 99.8%
CHINA — 10.9%
Consumer Discretionary — 10.9%
Alibaba Health Information Technology ^*		13,285,200	$	6,773,368
JD Health International ^*		1,247,650		7,943,372
Ping An Healthcare and Technology ^{* (A)}		1,425,800		3,834,579


TOTAL CHINA				18,551,319
GERMANY — 2.9%
Health Care — 2.9%
CompuGroup Medical & KgaA		88,841		4,986,950


UNITED STATES — 86.0%
Financials — 0.5%
eHealth ^*		83,335		875,018


Health Care — 85.5%
1Life Healthcare ^*		493,773		4,182,257
Agilent Technologies		62,526		7,975,817
Allscripts Healthcare Solutions ^*		345,747		5,908,816
American Well, Cl A ^*		590,893		2,233,575
Cerner		78,425		7,438,611
Change Healthcare ^*		311,173		7,496,158
Computer Programs and Systems ^*		46,166		1,472,234
Cue Health ^{* (A)}		240,344		1,271,420
Dexcom ^*		17,795		5,301,842

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Telemedicine & Digital Health ETF

	Shares		Value
COMMON STOCK — continued
Health Care — continued
DocGo ^{* (A)}		254,670	$	1,922,758
Doximity, Cl A ^*		169,775		5,940,427
GoodRx Holdings, Cl A ^*		224,320		1,787,830
Hims & Hers Health ^*		360,443		1,456,190
Illumina ^*		24,700		5,915,156
Invitae ^{* (A)}		729,521		2,677,342
iRhythm Technologies ^*		56,639		7,977,603
Laboratory Corp of America Holdings		29,064		7,170,670
LifeStance Health Group ^{* (A)}		234,480		1,746,876
Masimo ^*		62,837		8,824,200
NextGen Healthcare ^*		174,695		3,163,726
Omnicell ^*		68,183		7,579,222
OptimizeRx ^*		52,253		1,336,632
Pear Therapeutics ^{* (A)}		197,083		754,828
Personalis ^*		117,562		465,545
Phreesia ^*		160,257		2,907,062
R1 RCM ^*		319,424		6,858,033
ResMed		340,244		7,122,079
Sharecare ^{* (A)}		900,330		2,511,921
Signify Health, Cl A ^{* (A)}		212,320		2,893,922
SmileDirectClub, Cl A ^{* (A)}		364,288		513,646
Talkspace ^{* (A)}		394,129		555,722
Tandem Diabetes Care ^*		75,389		5,139,268
Teladoc Health ^*		131,199		4,472,574
UnitedHealth Group		14,320		7,113,890
Veracyte ^*		228,013		4,008,469
				146,096,321


TOTAL UNITED STATES				146,971,339
TOTAL COMMON STOCK
(Cost $322,316,459)				170,509,608

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Telemedicine & Digital Health ETF

	Shares/Face Amount		Value
SHORT-TERM INVESTMENT^(B)(C) — 3.2%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.600%
(Cost $5,438,698)		5,438,698	$	5,438,698

REPURCHASE AGREEMENT^(B) — 3.0%
BNP Paribas
0.740%, dated 05/31/2022, to be repurchased on 06/01/2022, repurchase price $5,052,252 (collateralized by various U.S. Treasury Obligations, ranging in par value $88,505 - $595,325, 0.250% - 2.75%, 09/30/2025 - 02/15/2028, with a total market value of $5,115,505)
(Cost $5,052,149)	$	5,052,149		5,052,149
TOTAL INVESTMENTS — 106.0%
(Cost $332,807,306)			$	181,000,455

Percentages are based on Net Assets of $170,833,346.

*	Non-income producing security.
(A)	This security or a partial position of this security is on loan at May 31, 2022. The total value of securities on loan at May 31, 2022 was $9,795,363.
(B)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2022 was $10,490,847.
(C)	The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2022.

Cl — Class

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Telemedicine & Digital Health ETF

The following is a summary of the level of inputs used as of May 31, 2022, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	170,509,608	$	—	$	—	$	170,509,608
Short-Term Investment		5,438,698		—		—		5,438,698
Repurchase Agreement		—		5,052,149		—		5,052,149
Total Investments in Securities	$	175,948,306	$	5,052,149	$	—	$	181,000,455

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

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Aging Population ETF

	Shares		Value
COMMON STOCK — 99.9%
AUSTRALIA — 0.8%
Health Care — 0.8%
Cochlear		2,418	$	386,753


BELGIUM — 1.5%
Health Care — 1.2%
UCB		7,158		630,003


Real Estate — 0.3%
Aedifica ^‡		1,352		156,419


TOTAL BELGIUM				786,422
CANADA — 0.6%
Health Care — 0.6%
Chartwell Retirement Residences		16,418		161,084
Sienna Senior Living		13,788		148,143


TOTAL CANADA				309,227
CHINA — 3.5%
Health Care — 3.5%
AK Medical Holdings		265,789		157,870
BeiGene ADR ^*		3,775		518,006
Beijing Chunlizhengda Medical Instruments, Cl H		140,916		154,646
Hansoh Pharmaceutical Group		217,643		392,257
Lifetech Scientific ^*		497,192		153,361
Luye Pharma Group ^*		469,424		147,190
Microport Scientific ^*		73,902		146,381
Venus MedTech Hangzhou, Cl H ^*		87,040		150,215


TOTAL CHINA				1,819,926

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Aging Population ETF

	Shares		Value
COMMON STOCK — continued
DENMARK — 5.8%
Health Care — 5.8%
Demant ^*		8,826	$	387,737
Genmab ^*		2,419		735,980
GN Store Nord		5,254		206,909
Novo Nordisk, Cl B		14,929		1,650,263


TOTAL DENMARK				2,980,889
FRANCE — 0.6%
Health Care — 0.6%
Korian		7,948		165,943
Orpea ^*		4,403		121,974


TOTAL FRANCE				287,917
GERMANY — 1.3%
Health Care — 1.3%
Fresenius Medical Care & KGaA		10,782		654,204


IRELAND — 0.1%
Health Care — 0.1%
Amarin ADR ^*		46,424		67,315


ITALY — 0.6%
Health Care — 0.6%
Amplifon		8,321		285,778


JAPAN — 7.3%
Health Care — 7.3%
Astellas Pharma		67,578		1,083,444
Chugai Pharmaceutical		52,336		1,435,279
Kissei Pharmaceutical		8,753		171,597
Nipro		20,508		163,241
Terumo		27,952		906,058


TOTAL JAPAN				3,759,619

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Aging Population ETF

	Shares		Value
COMMON STOCK — continued
NEW ZEALAND — 0.3%
Health Care — 0.3%
Ryman Healthcare		27,301	$	177,715


SOUTH KOREA — 1.3%
Health Care — 1.3%
Celltrion		5,076		658,501


SPAIN — 0.3%
Health Care — 0.3%
Pharma Mar		2,082		161,254


SWEDEN — 0.3%
Health Care — 0.3%
Elekta, Cl B		22,023		171,076


SWITZERLAND — 6.2%
Health Care — 6.2%
Alcon		21,856		1,637,119
Sonova Holding		2,325		822,258
Straumann Holding		5,860		745,529


TOTAL SWITZERLAND				3,204,906
UNITED KINGDOM — 4.3%
Health Care — 4.3%
AstraZeneca ADR		25,010		1,662,665
Smith & Nephew		32,148		523,875


TOTAL UNITED KINGDOM				2,186,540
UNITED STATES — 65.1%
Health Care — 58.6%
AbbVie		10,228		1,507,300
ABIOMED ^*		1,674		441,434
ACADIA Pharmaceuticals ^*		6,293		101,632
Aerie Pharmaceuticals ^*		19,885		103,004
agilon health ^*		14,742		281,572

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Aging Population ETF

	Shares		Value
COMMON STOCK — continued
Health Care — continued
Agios Pharmaceuticals ^*		5,718	$	111,329
Alector ^*		12,173		107,853
Alphatec Holdings ^*		13,335		102,413
Amedisys ^*		1,220		141,410
Amgen		6,911		1,774,330
AngioDynamics ^*		7,960		156,255
Biogen ^*		5,410		1,082,000
Blueprint Medicines ^*		2,453		134,915
Boston Scientific ^*		38,752		1,589,220
Bristol-Myers Squibb		22,926		1,729,767
Brookdale Senior Living ^*		25,366		144,586
Cano Health ^*		30,650		157,848
CareMax ^*		22,518		105,384
DaVita ^*		3,540		345,115
Denali Therapeutics ^*		5,127		124,535
Dexcom ^*		3,379		1,006,739
Edwards Lifesciences ^*		14,305		1,442,659
Eli Lilly		5,648		1,770,309
Ensign Group		2,019		163,882
Exact Sciences ^*		6,402		318,884
Exelixis ^*		11,731		215,029
FibroGen ^*		13,463		132,476
Glaukos ^*		2,835		115,753
Halozyme Therapeutics ^*		5,055		232,429
Heron Therapeutics ^*		27,244		89,905
Incyte ^*		8,143		617,972
Inogen ^*		5,209		133,767
Insulet ^*		2,547		543,734
Integer Holdings ^*		2,212		176,473
Johnson & Johnson		9,479		1,701,765
LHC Group ^*		1,162		193,659
LivaNova ^*		2,150		146,351
MannKind ^*		43,718		182,741

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Aging Population ETF

	Shares		Value
COMMON STOCK — continued
Health Care — continued
Medtronic		15,463	$	1,548,619
Merit Medical Systems ^*		2,622		160,965
National HealthCare		2,435		171,156
Neurocrine Biosciences ^*		3,500		327,215
Novocure ^*		3,837		308,418
NuVasive ^*		3,184		182,793
Pennant Group ^*		9,392		179,669
Radius Health ^*		19,104		120,928
Regeneron Pharmaceuticals ^*		2,439		1,621,301
Roche Holding		3,738		1,460,805
Seagen ^*		6,730		913,126
Sight Sciences ^*		14,399		123,687
Silk Road Medical ^*		3,989		132,515
Stryker		6,442		1,510,649
Teleflex		1,725		496,352
Theravance Biopharma ^*		17,636		154,844
United Therapeutics ^*		1,658		381,904
Zimmer Biomet Holdings		7,704		926,098
				30,147,473


Real Estate — 6.5%
Diversified Healthcare Trust ^‡		59,304		134,620
LTC Properties ^‡		4,605		178,398
National Health Investors ^‡		3,042		179,934
Omega Healthcare Investors ^‡		8,777		261,291
Sabra Health Care ^‡		12,317		172,931
Ventas ^‡		14,705		834,362
Welltower ^‡		17,799		1,585,713
				3,347,249


TOTAL UNITED STATES				33,494,722

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Aging Population ETF

	Value
COMMON STOCK — continued
TOTAL COMMON STOCK
(Cost $57,320,304)	$	51,392,764
TOTAL INVESTMENTS — 99.9%
(Cost $57,320,304)	$	51,392,764

Percentages are based on Net Assets of $51,457,132.

‡	Real Estate Investment Trust
*	Non-income producing security.

ADR — American Depositary Receipt

Cl — Class

As of May 31, 2022, all of the Fund’s investments were considered Level 1, in accordance with authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Health & Wellness ETF

	Shares		Value
COMMON STOCK — 99.8%
AUSTRALIA — 0.5%
Consumer Staples — 0.5%
Blackmores		2,127	$	110,956


CANADA — 2.8%
Consumer Discretionary — 2.8%
Gildan Activewear		21,022		662,147


CHINA — 10.2%
Consumer Discretionary — 10.2%
ANTA Sports Products		64,944		740,865
Li Ning		96,114		749,747
Topsports International Holdings		686,370		509,164
Xtep International Holdings		289,401		416,826


TOTAL CHINA				2,416,602
FRANCE — 3.5%
Consumer Staples — 3.5%
Danone		14,077		825,327


GERMANY — 6.0%
Consumer Discretionary — 6.0%
adidas		3,520		695,561
Puma		9,634		714,379


TOTAL GERMANY				1,409,940
HONG KONG — 1.1%
Consumer Discretionary — 1.1%
Yue Yuen Industrial Holdings		177,491		258,356

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Health & Wellness ETF

	Shares		Value
COMMON STOCK — continued
IRELAND — 1.5%
Consumer Staples — 1.5%
Glanbia		30,667	$	355,787


ITALY — 0.7%
Consumer Discretionary — 0.7%
Technogym		22,090		170,380


JAPAN — 12.7%
Consumer Discretionary — 7.9%
ABC-Mart		9,140		390,765
Asics		20,888		362,083
Descente		8,462		167,931
Goldwin		5,235		322,292
Shimano		3,527		624,686
				1,867,757


Consumer Staples — 4.0%
Ariake Japan		3,633		138,237
Yakult Honsha		14,761		813,522
				951,759


Health Care — 0.8%
Tsumura		8,461		193,299


TOTAL JAPAN				3,012,815
NETHERLANDS — 1.3%
Consumer Discretionary — 1.3%
Basic-Fit ^*		7,258		304,007


SOUTH KOREA — 1.8%
Consumer Discretionary — 1.8%
Fila Holdings		6,666		170,799
Hwaseung Enterprise		6,617		84,504
Youngone		4,869		183,001


TOTAL SOUTH KOREA				438,304

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Health & Wellness ETF

	Shares		Value
COMMON STOCK — continued
SWITZERLAND — 2.7%
Consumer Discretionary — 2.7%
On Holding, Cl A ^*		30,617	$	632,241


TAIWAN — 7.4%
Consumer Discretionary — 7.4%
Feng TAY Enterprise		97,381		637,464
Fulgent Sun International Holding		20,165		105,949
Giant Manufacturing		40,658		368,408
Merida Industry		32,660		293,124
Pou Chen		323,586		348,949


TOTAL TAIWAN				1,753,894
UNITED KINGDOM — 4.6%
Consumer Discretionary — 4.6%
Frasers Group ^*		54,094		471,088
JD Sports Fashion ^*		407,225		629,473


TOTAL UNITED KINGDOM				1,100,561
UNITED STATES — 43.0%
Consumer Discretionary — 24.9%
Beachbody ^*		39,652		88,821
Clarus		4,070		89,174
Columbia Sportswear		7,131		554,649
Dick’s Sporting Goods		6,222		505,413
F45 Training Holdings ^*		10,377		65,998
Foot Locker		10,566		348,467
Hibbett		1,877		95,258
Lululemon Athletica ^*		2,093		612,600
NIKE, Cl B		6,064		720,706
Peloton Interactive, Cl A ^*		31,113		434,337
Planet Fitness, Cl A ^*		9,331		656,622
Shoe Carnival		3,085		84,097
Skechers USA, Cl A ^*		14,946		588,872

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Health & Wellness ETF

	Shares		Value
COMMON STOCK — continued
Consumer Discretionary — continued
Under Armour, Cl A ^*		20,744	$	219,472
VF		13,969		704,876
WW International ^*		8,080		57,287
Zumiez ^*		2,178		71,460
				5,898,109


Consumer Staples — 13.6%
BellRing Brands ^*		14,992		392,041
Calavo Growers		2,055		69,973
Cal-Maine Foods		4,852		231,586
Celsius Holdings ^*		8,292		556,310
Hain Celestial Group ^*		10,046		264,712
Herbalife Nutrition ^*		12,082		263,267
Medifast		1,264		210,772
Nu Skin Enterprises, Cl A		5,475		255,409
Sanderson Farms		2,459		490,570
Sprouts Farmers Market ^*		12,198		330,444
USANA Health Sciences ^*		2,124		149,381
				3,214,465


Health Care — 3.9%
Dexcom ^*		1,519		452,571
Prestige Consumer Healthcare ^*		5,521		308,182
Tivity Health ^*		5,467		177,131
				937,884


Industrials — 0.6%
Healthcare Services Group		8,115		139,334


TOTAL UNITED STATES				10,189,792
TOTAL COMMON STOCK
(Cost $31,286,051)				23,641,109
TOTAL INVESTMENTS — 99.8%
(Cost $31,286,051)			$	23,641,109

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Health & Wellness ETF

Percentages are based on Net Assets of $23,682,618.

*	Non-income producing security.

Cl — Class

As of May 31, 2022, all of the Fund’s investments were considered Level 1, in accordance with authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X CleanTech ETF

	Shares		Value
COMMON STOCK — 99.9%
AUSTRALIA — 1.1%
Information Technology — 1.1%
Novonix ^*		413,068	$	1,211,925


CANADA — 3.0%
Industrials — 1.6%
Ballard Power Systems ^*		252,193		1,833,443


Information Technology — 1.4%
Canadian Solar ^*		50,574		1,621,403


TOTAL CANADA				3,454,846
CHINA — 16.4%
Industrials — 4.0%
China Everbright Environment Group		5,209,400		3,134,053
Dongfang Electric, Cl H		332,200		381,082
Xinjiang Goldwind Science & Technology, Cl H		657,500		1,077,738
				4,592,873


Information Technology — 12.4%
Daqo New Energy ADR ^*		62,333		3,048,084
Flat Glass Group, Cl H		380,600		1,583,903
JinkoSolar Holding ADR ^*		40,346		2,471,999
Xinyi Solar Holdings		4,019,700		7,162,711
				14,266,697


TOTAL CHINA				18,859,570

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X CleanTech ETF

	Shares		Value
COMMON STOCK — continued
DENMARK — 5.5%
Industrials — 5.5%
Vestas Wind Systems		245,927	$	6,269,856

GERMANY — 5.2%
Industrials — 4.0%
Nordex ^*		135,472		1,595,641
Varta		34,363		3,043,560
				4,639,201


Information Technology — 1.2%
SMA Solar Technology ^*		29,321		1,387,069


TOTAL GERMANY				6,026,270
NETHERLANDS — 1.7%
Industrials — 1.7%
Alfen Beheer BV ^*		18,396		1,979,537


NORWAY — 1.7%
Industrials — 1.7%
NEL ^*		1,236,398		1,923,508


SOUTH KOREA — 14.9%
Industrials — 3.0%
CS Wind		35,715		1,651,227
Doosan Fuel Cell ^*		55,520		1,750,145
				3,401,372


Information Technology — 7.5%
Samsung SDI		18,606		8,647,308


Materials — 4.4%
Hanwha Solutions ^*		162,188		5,119,174


TOTAL SOUTH KOREA				17,167,854

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X CleanTech ETF

	Shares		Value
COMMON STOCK — continued
SPAIN — 4.7%
Industrials — 4.7%
Siemens Gamesa Renewable Energy ^*		282,017	$	5,425,902


SWITZERLAND — 1.2%
Information Technology — 1.2%
Landis+Gyr Group		24,368		1,419,804


TAIWAN — 2.3%
Information Technology — 2.3%
Simplo Technology		162,464		1,679,214
United Renewable Energy ^*		1,384,600		1,016,089


TOTAL TAIWAN				2,695,303
UNITED KINGDOM — 6.5%
Industrials — 2.9%
Ceres Power Holdings ^*		161,239		1,361,507
ITM Power ^*		521,289		1,936,126
				3,297,633


Materials — 3.6%
Johnson Matthey		158,538		4,215,905


TOTAL UNITED KINGDOM				7,513,538
UNITED STATES — 35.7%
Consumer Discretionary — 3.2%
QuantumScape, Cl A ^*		284,283		3,635,980


Industrials — 13.0%
Ameresco, Cl A ^*		28,673		1,683,679
Array Technologies ^*		113,572		1,258,378
Bloom Energy, Cl A ^*		137,117		2,402,290
Fluence Energy, Cl A ^*		46,029		451,084
FuelCell Energy ^*		311,750		1,278,175
Plug Power ^*		294,287		5,438,424
Shoals Technologies Group, Cl A ^*		88,114		1,374,578

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X CleanTech ETF

	Shares		Value
COMMON STOCK — continued
Industrials — continued
Stem ^*		130,457	$	1,127,148
				15,013,756


Information Technology — 19.5%
Enphase Energy ^*		42,634		7,938,024
First Solar ^*		74,698		5,274,426
SolarEdge Technologies ^*		24,177		6,595,244
SunPower, Cl A ^*		146,434		2,587,489
				22,395,183


TOTAL UNITED STATES				41,044,919
TOTAL COMMON STOCK
(Cost $170,221,760)				114,992,832
TOTAL INVESTMENTS — 99.9%
(Cost $170,221,760)			$	114,992,832

Percentages are based on Net Assets of $115,116,328.

*	Non-income producing security.

ADR — American Depositary Receipt

Cl — Class

As of May 31, 2022, all of the Fund’s investments were considered Level 1, in accordance with authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X U.S. Infrastructure Development ETF

	Shares		Value
COMMON STOCK — 100.0%
Consumer Discretionary — 0.8%
TopBuild ^*		165,029	$	32,553,620
Industrials — 68.1%
Acuity Brands		174,206		30,489,534
Advanced Drainage Systems		355,656		38,947,889
AECOM		705,621		49,287,627
Altra Industrial Motion		321,919		12,622,444
Arcosa		276,447		14,615,753
Argan		352,570		14,099,274
Astec Industries		204,836		9,580,180
Atkore ^*		231,178		25,179,908
Atlas Technical Consultants ^*		1,706,583		13,959,849
Builders FirstSource ^*		959,392		62,446,825
Carlisle		261,206		66,458,643
Columbus McKinnon		281,890		9,513,787
Construction Partners, Cl A ^*		575,107		13,221,710
Crane Holdings		291,537		27,888,429
CSW Industrials		114,327		12,132,381
CSX		3,915,076		124,460,266
Custom Truck One Source ^{* (A)}		1,788,655		10,660,384

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X U.S. Infrastructure Development ETF

	Shares		Value
COMMON STOCK — continued
Industrials — continued
Deere		366,498	$	131,125,654
DXP Enterprises ^*		520,031		15,954,551
Dycom Industries ^*		167,682		15,612,871
Eaton		831,559		115,254,077
EMCOR Group		266,292		28,128,424
Emerson Electric		1,432,463		127,002,170
Exponent		258,754		23,388,774
Fastenal		2,363,419		126,584,722
Fortive		1,861,437		114,980,963
Gibraltar Industries ^*		233,273		9,741,480
Gorman-Rupp		327,919		9,768,707
Graco		851,811		53,919,636
Granite Construction		366,195		11,956,267
Greenbrier		349,205		14,530,420
H&E Equipment Services		319,542		11,391,672
Herc Holdings		147,752		17,319,489
Howmet Aerospace		2,138,996		76,511,887
Hubbell, Cl B		271,748		51,594,075
IDEX		381,153		73,009,857
Insteel Industries		330,798		13,698,345
Jacobs Engineering Group		645,332		90,404,560
Lincoln Electric Holdings		294,801		40,039,872
MasTec ^*		370,787		30,994,085
MDU Resources Group		1,014,488		27,776,681
MRC Global ^*		1,770,359		19,810,317
Mueller Industries		283,178		15,249,135
Mueller Water Products, Cl A		1,017,788		12,142,211
MYR Group ^*		147,332		13,497,085
Norfolk Southern		482,911		115,734,450
Northwest Pipe ^*		471,011		15,736,478
NOW ^*		1,500,151		16,561,667
Parker-Hannifin		426,268		116,017,362
Pentair		826,202		41,450,554

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X U.S. Infrastructure Development ETF

	Shares		Value
COMMON STOCK — continued
Industrials — continued
Powell Industries		512,962	$	13,788,419
Primoris Services		524,375		12,731,825
Quanta Services		713,151		84,864,969
RBC Bearings ^*		144,015		26,842,956
Regal Rexnord		339,628		42,436,519
Rockwell Automation		425,190		90,650,508
SPX ^*		254,266		12,797,208
Sterling Infrastructure ^*		516,888		12,720,614
Terex		343,433		12,154,094
Tetra Tech		270,846		36,556,085
Titan Machinery ^*		439,659		11,611,394
Trane Technologies		762,892		105,324,870
Trinity Industries		480,270		11,939,512
Tutor Perini ^*		1,152,019		11,681,473
Union Pacific		541,960		119,111,969
United Rentals ^*		362,427		108,068,483
Valmont Industries		105,599		27,112,543
Wabash National		672,164		10,317,717
WESCO International ^*		251,562		31,591,156
Willdan Group ^*		428,852		11,424,617
Woodward		314,760		31,982,764
Zurn Water Solutions		599,485		17,277,158
				2,975,440,234
Information Technology — 2.5%
Badger Meter		148,858		11,780,622
Calix ^*		330,547		12,210,406
Trimble ^*		1,256,173		85,482,573
				109,473,601
Materials — 24.9%
Alcoa		937,015		57,832,566
Allegheny Technologies ^*		679,009		18,672,748
Arconic ^*		544,706		15,322,580

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X U.S. Infrastructure Development ETF

	Shares		Value
COMMON STOCK — continued
Materials — continued
Carpenter Technology		456,681	$	16,088,872
Century Aluminum ^*		830,659		9,801,776
Cleveland-Cliffs ^*		2,505,338		58,073,735
Commercial Metals		605,854		24,070,579
Eagle Materials		202,898		26,490,363
Haynes International		371,834		14,222,650
Louisiana-Pacific		439,071		30,322,243
Martin Marietta Materials		348,909		118,412,736
Minerals Technologies		186,925		12,385,651
Nucor		1,435,022		190,083,014
Reliance Steel & Aluminum		312,988		60,844,867
RPM International		647,732		57,065,189
Ryerson Holding		631,778		19,041,789
Steel Dynamics		994,020		84,869,428
Summit Materials, Cl A ^*		597,669		16,322,340
TimkenSteel ^*		997,716		23,047,240
United States Steel		1,355,553		33,983,714
Vulcan Materials		718,400		118,442,608
Westlake		639,547		84,490,554
				1,089,887,242
Utilities — 3.7%
Sempra Energy		989,774		162,184,368
TOTAL COMMON STOCK
(Cost $4,343,777,640)				4,369,539,065

SHORT-TERM INVESTMENT^(B)(C) — 0.0%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.600%
(Cost $1,638,469)		1,638,469		1,638,469

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X U.S. Infrastructure Development ETF

	Face Amount		Value
REPURCHASE AGREEMENT^(B) — 0.0%
BNP Paribas
0.740%, dated 05/31/2022, to be repurchased on 06/01/2022, repurchase price $1,522,048 (collateralized by various U.S. Treasury Obligations, ranging in par value $26,663 - $179,348, 0.250% -2.750%, 09/30/2025 - 02/15/2028, with a total market value of $1,541,102)
(Cost $1,522,016)	$	1,522,016	$	1,522,016
TOTAL INVESTMENTS — 100.0%
(Cost $4,346,938,125)			$	4,372,699,550

Percentages are based on Net Assets of $4,373,901,924.

*	Non-income producing security.
(A)	This security or a partial position of this security is on loan at May 31, 2022. The total value of securities on loan at May 31, 2022 was $3,062,844.
(B)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2022 was $3,160,485.
(C)	The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2022.

Cl — Class

The following is a summary of the level of inputs used as of May 31, 2022, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	4,369,539,065	$	—	$	—	$	4,369,539,065
Short-Term Investment		1,638,469		—		—		1,638,469
Repurchase Agreement		—		1,522,016		—		1,522,016
Total Investments in Securities	$	4,371,177,534	$	1,522,016	$	—	$	4,372,699,550

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

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Thematic Growth ETF

	Shares		Value
EXCHANGE TRADED FUNDS — 99.8%
Global X Cannabis ETF^(A)		1,293,239	$	4,397,013
Global X Cloud Computing ETF^{*(A) (B)}		654,259		11,685,066
Global X FinTech ETF^{(A) (B)}		446,577		11,311,795
Global X Genomics & Biotechnology ETF^(A)		468,508		5,622,096
Global X Lithium & Battery Tech ETF^(A)		291,059		21,424,853
Global X Renewable Energy Producers ETF^(A)		532,114		8,040,242
Global X Robotics & Artificial Intelligence ETF^(A)		257,408		6,139,181
Global X Social Media ETF^*(A)		308,214		11,218,990
TOTAL EXCHANGE TRADED FUNDS
(Cost $124,684,157)				79,839,236

SHORT-TERM INVESTMENT^(C)(D) — 4.2%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.600%
(Cost $3,340,224)		3,340,224		3,340,224

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Thematic Growth ETF

	Face Amount		Value
REPURCHASE AGREEMENT^(C) — 3.9%
BNP Paribas
0.740%, dated 05/31/2022, to be repurchased on 06/01/2022, repurchase price $3,102,885 (collateralized by various U.S. Treasury Obligations, ranging in par value $54,356 - $365,624, 0.250% - 2.750%, 09/30/2025 - 02/15/2028, with a total market value of $3,141,732)
(Cost $3,102,821)	$	3,102,821	$	3,102,821
TOTAL INVESTMENTS — 107.9%
(Cost $131,127,202)			$	86,282,281

Percentages are based on Net Assets of $79,976,746.

*	Non-income producing security.
(A)	Affiliated investment.
(B)	This security or a partial position of this security is on loan at May 31, 2022. The total value of securities on loan at May 31, 2022 was $5,891,717.
(C)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2022 was $6,443,045.
(D)	The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2022.

Cl — Class

ETF — Exchange Traded Fund

The following is a summary of the level of inputs used as of May 31, 2022, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Exchange Traded Funds	$	79,839,236	$	—	$	—	$	79,839,236
Short-Term Investment		3,340,224		—		—		3,340,224
Repurchase Agreement		—		3,102,821		—		3,102,821
Total Investments in Securities	$	83,179,460	$	3,102,821	$	—	$	86,282,281

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Thematic Growth ETF

The following is a summary of the transactions with affiliates for the period ended May 31, 2022:

	Value at 11/30/21		Purchases at Cost		Proceeds from Sales			Changes in Unrealized Appreciation (Depreciation)			Realized Gain (Loss)			Value at 5/31/22		Shares		Dividend Income		Capital Gain
Global X Cannabis ETF	$	6,346,511	$	2,826,481	$	(588,317	)	$	(4,092,488	)	$	(95,174	)	$	4,397,013		1,293,239	$	141,864	$	−
Global X Cloud Computing ETF		17,449,964		2,992,705		(1,913,859	)		(6,551,456	)		(292,288	)		11,685,066		654,259		−		306,532
Global X FinTech ETF		16,833,127		4,174,630		(1,410,966	)		(8,115,186	)		(169,810	)		11,311,795		446,577		853,288		−
Global X Genomics & Biotechnology ETF		23,960,245		3,905,681		(14,288,398	)		(172,698	)		(7,782,734	)		5,622,096		468,508		8,106		−
Global X Lithium & Battery Tech ETF		10,545,810		15,709,389		(1,738,529	)		(3,126,912	)		35,095			21,424,853		291,059		17,902		−
Global X Renewable Energy Producers ETF		9,141,433		1,764,203		(2,545,147	)		(230,119	)		(90,128	)		8,040,242		532,114		43,647		−
Global X Robotics & Artificial Intelligence ETF		9,418,697		1,696,138		(1,656,214	)		(3,026,567	)		(292,873	)		6,139,181		257,408		−		−
Global X Social Media ETF		16,244,505		2,938,309		(1,863,870	)		(5,686,219	)		(413,735	)		11,218,990		308,214		−		−
Totals:	$	109,940,292	$	36,007,536	$	(26,005,300	)	$	(31,001,645	)	$	(9,101,647	)	$	79,839,236		4,251,378	$	1,064,807	$	306,532

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

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X AgTech & Food Innovation ETF

	Shares		Value
COMMON STOCK — 99.8%
AUSTRALIA — 4.1%
Materials — 4.1%
Nufarm		63,630	$	241,462


CANADA — 13.0%
Consumer Staples — 0.8%
Maple Leaf Foods		903		19,840
SunOpta ^*		3,585		27,891
				47,731


Materials — 12.2%
Nutrien		7,470		726,009


TOTAL CANADA				773,740
CHINA — 9.8%
Consumer Staples — 9.8%
Cheng De Lolo, Cl A ^*		212,680		291,984
Yuan Longping High-tech Agriculture, Cl A ^*		107,300		287,390


TOTAL CHINA				579,374
GERMANY — 2.2%
Health Care — 2.2%
Bayer		1,868		133,233

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X AgTech & Food Innovation ETF

	Shares		Value
COMMON STOCK — continued
ISRAEL — 0.3%
Materials — 0.3%
ICL Group		1,603	$	17,811


PHILIPPINES — 0.4%
Consumer Staples — 0.4%
Monde Nissin ^*		81,362		22,986


UNITED KINGDOM — 4.3%
Consumer Staples — 3.9%
Unilever		4,769		229,897


Industrials — 0.4%
CNH Industrial		1,837		27,427


TOTAL UNITED KINGDOM				257,324
UNITED STATES — 65.7%
Consumer Discretionary — 3.3%
GrowGeneration ^*		38,475		198,146


Consumer Staples — 30.8%
AppHarvest ^*		48,121		152,062
Archer-Daniels-Midland		1,063		96,542
Benson Hill ^*		5,117		17,705
Beyond Meat ^*		18,688		494,298
Hain Celestial Group ^*		591		15,573
Ingredion		228		21,589
Kellogg		631		44,006
Oatly Group ADR ^*		182,075		751,970
Sprouts Farmers Market ^*		633		17,148
Tattooed Chef ^*		30,072		217,721
				1,828,614


Industrials — 16.4%
AGCO		144		18,451
Deere		638		228,263
Hydrofarm Holdings Group ^*		20,554		141,617

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X AgTech & Food Innovation ETF

	Shares/Face Amount		Value
COMMON STOCK — continued
Industrials — continued
Lindsay		2,135	$	269,010
Titan Machinery ^*		12,112		319,878
				977,219


Materials — 15.2%
Corteva		13,714		858,771
FMC		233		28,561
Scotts Miracle-Gro, Cl A		181		17,126
				904,458


TOTAL UNITED STATES				3,908,437
TOTAL COMMON STOCK
(Cost $7,622,049)				5,934,367

U.S. TREASURY OBLIGATION — 9.3%
U.S Treasury Bill
0.495%, 06/02/22^(A)
(Cost $549,993)	$	550,000		549,994
TOTAL INVESTMENTS — 109.1%
(Cost $8,172,042)			$	6,484,361

Percentages are based on Net Assets of $5,944,814.

*	Non-income producing security.
(A)	Interest rate represents the security’s effective yield at the time of purchase.

ADR — American Depositary Receipt

Cl — Class

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X AgTech & Food Innovation ETF

The following is a summary of the level of inputs used as of May 31, 2022, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	5,934,367	$	—	$	—	$	5,934,367
U.S. Treasury Obligation		—		549,994		—		549,994
Total Investments in Securities	$	5,934,367	$	549,994	$	—	$	6,484,361

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

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Blockchain ETF

	Shares		Value
COMMON STOCK — 100.1%
CANADA — 19.3%
Financials — 4.8%
Voyager Digital ^{* (A)}		1,214,105	$	3,282,792


Information Technology — 14.5%
BIGG Digital Assets ^{* (A)}		2,944,158		1,117,283
Bitfarms ^{* (A)}		1,614,443		3,242,033
Hive Blockchain Technologies ^{* (A)}		577,269		2,523,853
Hut 8 Mining ^{* (A)}		1,144,498		2,958,855
				9,842,024


TOTAL CANADA				13,124,816
CHINA — 13.5%
Industrials — 0.7%
SOS ADR ^{* (A)}		1,336,590		513,250


Information Technology — 12.8%
Bit Digital ^{* (A)}		483,819		861,198
BIT Mining ADR ^{* (A)}		901,517		1,920,231
Canaan ADR ^*		1,206,722		4,513,141

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Blockchain ETF

	Shares		Value
COMMON STOCK — continued
Information Technology — continued
Ebang International Holdings, Cl A ^*		1,727,425	$	1,381,767
				8,676,337


TOTAL CHINA				9,189,587
GERMANY — 4.8%
Information Technology — 4.8%
Northern Data ^{* (A)}		88,611		3,267,299


HONG KONG — 0.1%
Financials — 0.1%
EQONEX ^{* (A)}		64,567		75,543


UNITED KINGDOM — 5.4%
Information Technology — 5.4%
Argo Blockchain ^*		5,557,071		3,641,869


UNITED STATES — 57.0%
Consumer Discretionary — 2.7%
Overstock.com ^*		58,734		1,820,167


Financials — 22.5%
Bakkt Holdings ^{* (A)}		507,471		1,446,292
Block, Cl A ^*		18,589		1,626,724
Coinbase Global, Cl A ^{* (A)}		91,603		7,154,194
Galaxy Digital Holdings ^*		788,318		5,067,024
				15,294,234


Information Technology — 31.8%
Cipher Mining ^*		189,423		460,298
Cleanspark ^*		528,307		3,111,728
GreenBox POS ^{* (A)}		256,876		675,584
Marathon Digital Holdings ^{* (A)}		635,613		6,502,321
NVIDIA		10,612		1,981,473
PayPal Holdings ^*		22,034		1,877,517
Riot Blockchain ^*		901,383		6,480,944

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Blockchain ETF

	Shares/Face Amount		Value
COMMON STOCK — continued
Information Technology — continued
Terawulf ^{* (A)}		169,454	$	540,558
				21,630,423


TOTAL UNITED STATES				38,744,824
TOTAL COMMON STOCK
(Cost $168,024,294)				68,043,938

SHORT-TERM INVESTMENT^(B)(C) — 15.8%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.600%
(Cost $10,720,721)		10,720,721		10,720,721

REPURCHASE AGREEMENT^(B) — 14.6%
BNP Paribas
0.740%, dated 05/31/2022, to be repurchased on 06/01/2022, repurchase price $9,948,150 (collateralized by various U.S. Treasury Obligations, ranging in par value $174,270 - $1,172,226, 0.250% - 2.75%, 09/30/2025 - 02/15/2028, with a total market value of $10,072,697)
(Cost $9,947,946)	$	9,947,946		9,947,946
TOTAL INVESTMENTS — 130.5%
(Cost $188,692,961)			$	88,712,605

Percentages are based on Net Assets of $68,004,001.

*	Non-income producing security.
(A)	This security or a partial position of this security is on loan at May 31, 2022. The total value of securities on loan at May 31, 2022 was $19,359,921.
(B)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2022 was $20,668,667.
(C)	The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2022.

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Blockchain ETF

ADR — American Depositary Receipt

Cl — Class

The following is a summary of the level of inputs used as of May 31, 2022, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	68,043,938	$	—	$	—	$	68,043,938
Short-Term Investment		10,720,721		—		—		10,720,721
Repurchase Agreement		—		9,947,946		—		9,947,946
Total Investments in Securities	$	78,764,659	$	9,947,946	$	—	$	88,712,605

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

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Clean Water ETF

	Shares		Value
COMMON STOCK — 99.8%
BRAZIL — 3.0%
Utilities — 3.0%
Cia de Saneamento Basico do Estado de Sao Paulo ^*		16,809	$	162,393
Cia de Saneamento de Minas Gerais-COPASA		9,615		27,332


TOTAL BRAZIL				189,725
CHILE — 0.4%
Utilities — 0.4%
Aguas Andinas, Cl A		129,766		27,233


CHINA — 7.9%
Industrials — 1.6%
Beijing Originwater Technology, Cl A		114,300		83,508
WPG Shanghai Smart Water, Cl A		12,300		19,354
				102,862


Utilities — 6.3%
Beijing Capital Eco-Environment Protection Group, Cl A		166,900		72,963
Beijing Enterprises Water Group		190,040		62,979
Chengdu Xingrong Environment, Cl A		58,300		45,911
China Water Affairs Group		39,700		39,520

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

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Clean Water ETF

	Shares		Value
COMMON STOCK — continued
Utilities — continued
Guangdong Investment		137,600	$	173,632
				395,005


TOTAL CHINA				497,867
JAPAN — 3.9%
Industrials — 3.9%
Kurita Water Industries		4,807		186,272
METAWATER		1,137		17,906
Nomura Micro Science		558		18,239
Organo		275		20,971


TOTAL JAPAN				243,388
SAUDI ARABIA — 0.4%
Utilities — 0.4%
AlKhorayef Water & Power Technologies		722		23,293


SINGAPORE — 1.3%
Utilities — 1.3%
Keppel Infrastructure Trust		198,651		81,872


SOUTH KOREA — 2.4%
Consumer Discretionary — 2.4%
Coway		2,640		152,570


UNITED KINGDOM — 13.4%
Utilities — 13.4%
Pennon Group		13,165		166,085
Severn Trent		7,921		291,000
United Utilities Group		29,296		390,633


TOTAL UNITED KINGDOM				847,718
UNITED STATES — 67.1%
Energy — 0.5%
Select Energy Services, Cl A ^*		3,688		31,237


Industrials — 33.2%
Advanced Drainage Systems		2,660		291,297

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

100

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Clean Water ETF

	Shares		Value
COMMON STOCK — continued
Industrials — continued
AO Smith		4,329	$	260,259
Energy Recovery ^*		2,275		45,978
Evoqua Water Technologies ^*		5,792		206,137
Franklin Electric		1,899		139,994
Mueller Water Products, Cl A		7,470		89,117
Pentair		5,264		264,095
Reliance Worldwide		36,111		101,545
Watts Water Technologies, Cl A		1,335		174,658
Xylem		6,171		519,907
				2,092,987


Information Technology — 1.8%
Badger Meter		1,418		112,221


Materials — 7.8%
Ecolab		2,986		489,435


Utilities — 23.8%
American States Water		1,792		142,016
American Water Works		3,684		557,205
California Water Service Group		2,555		137,127
Essential Utilities		11,029		510,202
Middlesex Water		838		71,255
SJW Group		1,337		82,693
				1,500,498


TOTAL UNITED STATES				4,226,378
TOTAL COMMON STOCK
(Cost $7,363,065)				6,290,044
TOTAL INVESTMENTS — 99.8%
(Cost $7,363,065)			$	6,290,044

Percentages are based on Net Assets of $6,299,844.

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

101

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Clean Water ETF

*	Non-income producing security.

Cl — Class

As of May 31, 2022, all of the Fund’s investments were considered Level 1, in accordance with authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

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

102

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Hydrogen ETF

	Shares		Value
COMMON STOCK — 99.9%
CANADA — 7.9%
Industrials — 7.9%
Ballard Power Systems ^*		333,428	$	2,424,022
NFI Group		10,142		97,022


TOTAL CANADA				2,521,044
FRANCE — 5.0%
Consumer Discretionary — 0.4%
Cie Plastic Omnium		7,234		135,072


Industrials — 4.6%
McPhy Energy ^*		89,449		1,470,870


TOTAL FRANCE				1,605,942
GERMANY — 5.2%
Industrials — 5.2%
SFC Energy ^*		62,450		1,675,832


JAPAN — 2.3%
Consumer Discretionary — 2.3%
Toyota Motor		45,824		756,045


NORWAY — 13.0%
Industrials — 13.0%
NEL ^*		2,676,492		4,163,913

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

103

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Hydrogen ETF

	Shares		Value
COMMON STOCK — continued
SOUTH KOREA — 5.4%
Industrials — 5.4%
Doosan Fuel Cell ^*		55,516	$	1,750,019


SWEDEN — 7.3%
Industrials — 7.3%
Cell Impact ^*		726,917		1,101,114
PowerCell Sweden ^*		81,923		1,248,064


TOTAL SWEDEN				2,349,178
UNITED KINGDOM — 15.3%
Industrials — 12.8%
AFC Energy ^*		3,480,478		1,210,662
Ceres Power Holdings ^*		177,151		1,495,868
ITM Power ^*		377,066		1,400,466
				4,106,996


Materials — 2.5%
Linde		2,437		791,245


TOTAL UNITED KINGDOM				4,898,241
UNITED STATES — 38.5%
Industrials — 36.1%
Advent Technologies Holdings ^*		49,868		67,821
Bloom Energy, Cl A ^*		207,972		3,643,669
Chart Industries ^*		1,097		192,940
Cummins		3,963		828,743
FuelCell Energy ^*		332,471		1,363,131
Hyster-Yale Materials Handling		3,621		133,796
Hyzon Motors ^*		367,525		1,786,172
Lightning eMotors ^*		24,828		99,560
Nikola ^*		14,535		102,617
Plug Power ^*		181,170		3,348,022
				11,566,471

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

104

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Hydrogen ETF

	Shares/Face Amount		Value
COMMON STOCK — continued
Materials — 2.4%
Air Products & Chemicals		3,145	$	774,173


TOTAL UNITED STATES				12,340,644
TOTAL COMMON STOCK
(Cost $42,524,091)				32,060,858

U.S. TREASURY OBLIGATION — 9.0%
U.S Treasury Bill
0.495%, 06/02/22^(A)
(Cost $2,899,960)	$	2,900,000		2,899,968
TOTAL INVESTMENTS — 108.9%
(Cost $45,424,051)			$	34,960,826

Percentages are based on Net Assets of $32,088,948.

*	Non-income producing security.
(A)	Interest rate represents the security’s effective yield at the time of purchase.

Cl — Class

The following is a summary of the level of inputs used as of May 31, 2022, in valuing the Fund’s investments carried at value:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	32,060,858	$	—	$	—	$	32,060,858
U.S. Treasury Obligation		—		2,899,968		—		2,899,968
Total Investments in Securities	$	32,060,858	$	2,899,968	$	—	$	34,960,826

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

105

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Solar ETF

	Shares		Value
COMMON STOCK — 99.9%
CANADA — 0.9%
Information Technology — 0.9%
Canadian Solar ^*		2,466	$	79,060


CHINA — 60.6%
Industrials — 9.8%
Ginlong Technologies, Cl A		7,650		193,558
ReneSola ADR ^*		4,479		21,365
Sineng Electric, Cl A		8,100		43,523
Sungrow Power Supply, Cl A		47,800		572,220
				830,666


Information Technology — 48.7%
Daqo New Energy ADR ^*		3,989		195,062
Flat Glass Group, Cl H ^*		22,600		94,052
GCL Technology Holdings ^*		1,106,000		397,540
Hangzhou First Applied Material, Cl A		25,200		299,333
JA Solar Technology, Cl A		32,300		452,628
Jiangsu Akcome Science & Technology, Cl A ^*		187,300		95,061
JinkoSolar Holding ADR ^*		2,271		139,144
LONGi Green Energy Technology, Cl A		62,900		745,827
Risen Energy, Cl A ^*		29,500		117,260
Shenzhen SC New Energy Technology, Cl A		10,300		109,332
Tianjin Zhonghuan Semiconductor, Cl A		97,600		637,087
Trina Solar, Cl A		48,053		461,868

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

106

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Solar ETF

	Shares		Value
COMMON STOCK — continued
Information Technology — continued
Xinyi Solar Holdings		209,600	$	373,487
				4,117,681


Utilities — 2.1%
CECEP Solar Energy, Cl A ^*		93,200		106,185
GCL New Energy Holdings ^*		1,230,900		24,632
Xinyi Energy Holdings		83,000		45,702
				176,519


TOTAL CHINA				5,124,866
GERMANY — 1.9%
Information Technology — 0.3%
SMA Solar Technology ^*		547		25,877


Utilities — 1.6%
Encavis		6,357		137,492


TOTAL GERMANY				163,369
INDIA — 0.6%
Utilities — 0.6%
Azure Power Global ^*		3,276		48,681


JAPAN — 0.7%
Industrials — 0.2%
gremz		1,710		20,191


Utilities — 0.5%
West Holdings		1,145		41,298


TOTAL JAPAN				61,489
SOUTH AFRICA — 0.7%
Utilities — 0.7%
Scatec		5,945		60,078


SOUTH KOREA — 2.3%
Materials — 2.3%
Hanwha Solutions ^*		6,055		191,115

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

107

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Solar ETF

	Shares		Value
COMMON STOCK — continued
SPAIN — 2.4%
Utilities — 2.4%
Atlantica Sustainable Infrastructure		3,368	$	109,965
Solaria Energia y Medio Ambiente ^*		3,889		90,321


TOTAL SPAIN				200,286
SWITZERLAND — 0.7%
Information Technology — 0.7%
Meyer Burger Technology ^*		125,818		58,909


TAIWAN — 2.0%
Information Technology — 2.0%
Anji Technology		11,000		19,972
Gigastorage ^*		28,030		21,729
Motech Industries		21,400		21,750
Tainergy Tech ^*		26,700		22,446
TSEC ^*		22,400		28,671
United Renewable Energy ^*		75,918		55,712


TOTAL TAIWAN				170,280
THAILAND — 0.3%
Utilities — 0.3%
Sermsang Power NVDR		81,251		23,506


UNITED STATES — 26.8%
Industrials — 5.7%
Array Technologies ^*		7,519		83,310
Beam Global ^*		971		13,876
FTC Solar ^*		6,782		27,467
Heliogen ^*		7,115		27,535
Shoals Technologies Group, Cl A ^*		3,221		50,248
Sunrun ^*		10,773		281,391
				483,827


Information Technology — 19.8%
Enphase Energy ^*		3,460		644,217

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

108

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Solar ETF

	Shares		Value
COMMON STOCK — continued
Information Technology — continued
First Solar ^*		4,747	$	335,186
Maxeon Solar Technologies ^*		1,755		20,990
SolarEdge Technologies ^*		2,192		597,956
SunPower, Cl A ^*		4,302		76,016
				1,674,365


Utilities — 1.3%
Sunnova Energy International ^*		5,218		104,360


TOTAL UNITED STATES				2,262,552
TOTAL COMMON STOCK
(Cost $7,402,436)				8,444,191
TOTAL INVESTMENTS — 99.9%
(Cost $7,402,436)			$	8,444,191

Percentages are based on Net Assets of $8,454,942.

*	Non-income producing security.

ADR — American Depositary Receipt

Cl — Class

NVDR — Non-Voting Depositary Receipt

As of May 31, 2022, all of the Fund’s investments were considered Level 1, in accordance with authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

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

109

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Wind Energy ETF

	Shares		Value
COMMON STOCK — 99.9%
BRAZIL — 2.6%
Industrials — 0.3%
Aeris Industria E Comercio De Equipamentos Para Geracao De Energia		15,400	$	11,570


Utilities — 2.3%
Omega Energia ^*		37,300		85,012


TOTAL BRAZIL				96,582
CANADA — 17.6%
Utilities — 17.6%
Boralex, Cl A		5,604		171,064
Innergex Renewable Energy		9,832		132,612
Northland Power		11,924		361,627


TOTAL CANADA				665,303
CHINA — 32.1%
Industrials — 14.5%
Jinlei Technology, Cl A ^*		17,400		85,445
Ming Yang Smart Energy Group, Cl A		47,700		181,748
Riyue Heavy Industry, Cl A		23,400		75,076
Titan Wind Energy Suzhou, Cl A		57,300		117,012
Xinjiang Goldwind Science & Technology, Cl H		54,200		88,842
				548,123


Utilities — 17.6%
CECEP Wind-Power, Cl A		264,400		182,088

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

110

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Wind Energy ETF

	Shares		Value
COMMON STOCK — continued
Utilities — continued
China Datang Renewable Power, Cl H		166,000	$	57,763
China Longyuan Power Group, Cl H		196,600		422,491
				662,342


TOTAL CHINA				1,210,465
DENMARK — 22.9%
Industrials — 10.9%
Vestas Wind Systems		16,086		410,109


Utilities — 12.0%
Orsted		4,024		454,376


TOTAL DENMARK				864,485
GERMANY — 2.1%
Industrials — 2.1%
Nordex ^*		6,898		81,247


GREECE — 1.9%
Utilities — 1.9%
Terna Energy		3,699		71,286


HONG KONG — 1.7%
Industrials — 0.4%
China High Speed Transmission Equipment Group ^*		28,300		16,160


Utilities — 1.3%
Concord New Energy Group		480,000		47,721


TOTAL HONG KONG				63,881
INDIA — 2.2%
Utilities — 2.2%
ReNew Energy Global, Cl A ^*		11,984		83,888


NORWAY — 0.3%
Industrials — 0.3%
Aker Offshore Wind ^*		36,237		10,446

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

111

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Wind Energy ETF

	Shares		Value
COMMON STOCK — continued
SOUTH KOREA — 2.5%
Industrials — 2.5%
CS Wind		1,674	$	77,395
Unison ^*		7,326		15,455


TOTAL SOUTH KOREA				92,850
SPAIN — 9.5%
Industrials — 5.5%
Siemens Gamesa Renewable Energy ^*		10,889		209,500


Utilities — 4.0%
ACCIONA Energias Renovables		3,848		149,965


TOTAL SPAIN				359,465
SWEDEN — 1.7%
Industrials — 1.7%
Eolus Vind, Cl B		1,397		13,808
OX2 ^*		5,600		50,656


TOTAL SWEDEN				64,464
TAIWAN — 1.3%
Materials — 1.3%
Century Iron & Steel Industrial		12,000		47,959


UNITED STATES — 1.5%
Industrials — 1.5%
Infrastructure and Energy Alternatives ^*		3,006		24,439
TPI Composites ^*		2,493		34,378


TOTAL UNITED STATES				58,817
TOTAL COMMON STOCK
(Cost $4,418,863)				3,771,138
TOTAL INVESTMENTS — 99.9%
(Cost $4,418,863)			$	3,771,138

Percentages are based on Net Assets of $3,775,601.

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

112

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Wind Energy ETF

*	Non-income producing security.

Cl — Class

As of May 31, 2022, all of the Fund’s investments were considered Level 1, in accordance with authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

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

113

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Green Building ETF

	Shares		Value
COMMON STOCK — 99.7%
AUSTRALIA — 1.7%
Real Estate — 1.7%
Vicinity Centres ^‡		30,269	$	41,038


AUSTRIA — 0.6%
Industrials — 0.6%
Immobilien Anlagen		430		14,326


BRAZIL — 0.3%
Financials — 0.3%
BR Properties		4,150		7,724


CANADA — 0.3%
Real Estate — 0.3%
Dream Office ^‡		340		6,258


CHINA — 8.7%
Real Estate — 8.7%
China Jinmao Holdings Group		91,040		24,601
China Overseas Grand Oceans Group		15,460		7,882
China Overseas Land & Investment		34,450		100,115
China Vanke, Cl H		21,170		46,843
CIFI Holdings Group		44,360		19,281
SOHO China ^*		42,300		8,033


TOTAL CHINA				206,755

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

114

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Green Building ETF

	Shares		Value
COMMON STOCK — continued
FINLAND — 4.4%
Industrials — 4.1%
Kone, Cl B		1,920	$	97,657


Real Estate — 0.3%
Citycon		1,000		8,002


TOTAL FINLAND				105,659
FRANCE — 11.6%
Industrials — 3.9%
Legrand		1,066		91,996


Real Estate — 7.7%
Covivio ^‡		675		49,098
Gecina ^‡		730		85,552
Klepierre ^‡		1,872		42,554
Mercialys ^‡		760		7,531
				184,735


TOTAL FRANCE				276,731
GUERNSEY — 0.4%
Real Estate — 0.4%
BMO Commercial Property Trust		6,950		10,301


HONG KONG — 4.5%
Real Estate — 4.5%
Hang Lung Properties		17,110		31,971
Hongkong Land Holdings		11,220		52,061
Swire Properties		9,860		24,130


TOTAL HONG KONG				108,162
JAPAN — 23.9%
Real Estate — 23.9%
Activia Properties ^‡		6		19,146
Advance Logistics Investment ^‡		6		7,644
AEON Investment ^‡		15		17,968

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

115

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Green Building ETF

	Shares		Value
COMMON STOCK — continued
Real Estate — continued
CRE Logistics ^‡		5	$	8,045
Fukuoka ^‡		6		7,845
GLP J-Reit ^‡		39		50,234
Industrial & Infrastructure Fund Investment ^‡		19		28,121
Japan Metropolitan Fund Invest ^‡		61		51,637
Japan Prime Realty Investment ^‡		8		25,528
Japan Real Estate Investment ^‡		12		59,606
Kenedix Retail ^‡		5		10,809
LaSalle Logiport ^‡		18		25,619
Nippon Building Fund ^‡		14		76,179
Nippon Prologis ^‡		21		55,991
Nomura Real Estate Master Fund ^‡		39		50,870
Orix JREIT ^‡		26		37,632
SOSiLA Logistics ^‡		6		7,183
United Urban Investment ^‡		26		29,063


TOTAL JAPAN				569,120
NETHERLANDS — 1.3%
Real Estate — 1.3%
CTP		1,020		14,314
Eurocommercial Properties ^‡		430		11,028
Wereldhave ^‡		390		6,530


TOTAL NETHERLANDS				31,872
ROMANIA — 1.4%
Real Estate — 1.4%
NEPI Rockcastle		5,414		34,119


SINGAPORE — 8.3%
Real Estate — 8.3%
CapitaLand Integrated Commercial Trust ^‡		53,210		85,002
CDL Hospitality Trusts ^‡		534		487
City Developments		3,360		20,245
Frasers Centrepoint Trust ^‡		9,060		15,465

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

116

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Green Building ETF

	Shares		Value
COMMON STOCK — continued
Real Estate — continued
Frasers Logistics & Commercial Trust ^‡		23,590	$	23,402
Keppel ^‡		15,280		12,818
Lendlease Global Commercial ^‡		13,260		7,931
Mapletree Commercial Trust ^‡		19,190		24,917
Prime US ^‡		10,170		7,272


TOTAL SINGAPORE				197,539
SPAIN — 2.2%
Real Estate — 2.2%
Inmobiliaria Colonial Socimi ^‡		2,360		19,328
Merlin Properties Socimi ^‡		2,820		31,810


TOTAL SPAIN				51,138
SWEDEN — 2.7%
Industrials — 0.6%
Lindab International		740		14,295


Real Estate — 2.1%
Atrium Ljungberg, Cl B		370		6,214
Fabege		2,437		31,261
Hufvudstaden, Cl A		990		13,559
				51,034


TOTAL SWEDEN				65,329
SWITZERLAND — 1.7%
Industrials — 1.7%
Belimo Holding		98		39,157


UNITED KINGDOM — 5.8%
Consumer Discretionary — 2.5%
Berkeley Group Holdings ^*		1,141		60,396


Real Estate — 3.3%
Hammerson ^‡		36,550		12,663

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

117

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Green Building ETF

	Shares		Value
COMMON STOCK — continued
Real Estate — continued
Land Securities Group ^‡		6,825	$	65,957
				78,620


TOTAL UNITED KINGDOM				139,016
UNITED STATES — 19.9%
Consumer Discretionary — 2.0%
M/I Homes ^*		290		13,558
Meritage Homes ^*		407		34,721
				48,279


Industrials — 3.6%
Carrier Global		2,182		85,774


Real Estate — 14.3%
Boston Properties ^‡		792		88,055
Brandywine Realty Trust ^‡		1,453		16,201
Cousins Properties ^‡		1,286		44,431
Douglas Emmett ^‡		1,453		41,076
Franklin Street Properties ^‡		1,300		5,876
Hudson Pacific Properties ^‡		1,136		22,618
Kilroy Realty ^‡		897		54,448
Piedmont Office Realty Trust, Cl A ^‡		1,150		16,951
Vornado Realty Trust ^‡		1,446		50,552
				340,208


TOTAL UNITED STATES				474,261
TOTAL COMMON STOCK
(Cost $2,545,048)				2,378,505
TOTAL INVESTMENTS — 99.7%
(Cost $2,545,048)			$	2,378,505

Percentages are based on Net Assets of $2,385,646.

‡	Real Estate Investment Trust
*	Non-income producing security.

Cl — Class

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

118

Schedule of Investments		May 31, 2022 (Unaudited)
	Global X Green Building ETF

As of May 31, 2022, all of the Fund’s investments were considered Level 1, in accordance with authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

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

119

	Statements of Assets and Liabilities
	May 31, 2022 (Unaudited)

	Global X Robotics & Artificial Intelligence ETF			Global X Internet of Things ETF			Global X FinTech ETF			Global X Video Games & Esports ETF
Assets:
Cost of Investments	$	1,898,670,638		$	331,505,752		$	962,562,229		$	387,630,934
Cost of Repurchase Agreement		27,986,515			2,155,488			29,885,649			7,601,889
Cost of Foreign Currency		1,233			297			430			707
Investments, at Value	$	1,612,540,957	*	$	342,600,762	*	$	726,693,576	*	$	271,756,354	*
Repurchase Agreement, at Value		27,986,515			2,155,488			29,885,649			7,601,889
Cash		—			—			285,535			—
Foreign Currency, at Value		1,234			297			439			706
Reclaim Receivable		4,877,028			181,247			182,029			—
Receivable for Investment Securities Sold		4,702,159			—			—			—
Dividend, Interest, and Securities Lending Income Receivable		3,055,396			467,385			523,391			819,518
Unrealized Appreciation on Spot Contracts		—			—			7			—
Receivable for Capital Shares Sold		—			—			3,545,146			—
Total Assets		1,653,163,289			345,405,179			761,115,772			280,178,467
Liabilities:
Obligation to Return Securities Lending Collateral		58,114,332			4,475,896			62,085,698			15,853,619
Payable for Capital Shares Redeemed		4,715,267			—			—			—
Payable due to Investment Adviser		899,091			193,655			389,070			108,598
Payable for Investment Securities Purchased		—			—			3,539,356			—
Cash Overdraft		5,310,564			103,220			—			492,297
Custodian Fees Payable		12,526			49			—			388
Total Liabilities		69,051,780			4,772,820			66,014,124			16,454,902
Net Assets	$	1,584,111,509		$	340,632,359		$	695,101,648		$	263,723,565
Net Assets Consist of:
Paid-in Capital	$	2,006,283,690		$	308,103,015		$	1,010,355,282		$	415,200,135
Total Distributable Earnings/(Loss)		(422,172,181	)		32,529,344			(315,253,634	)		(151,476,570	)
Net Assets	$	1,584,111,509		$	340,632,359		$	695,101,648		$	263,723,565
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)		66,370,000			11,560,000			27,450,000			11,350,000
Net Asset Value, Offering and Redemption Price Per Share	$	23.87		$	29.47		$	25.32		$	23.24
*Includes Market Value of Securities on Loan	$	55,632,870		$	3,413,459		$	61,072,350		$	13,031,065

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

120

	Statements of Assets and Liabilities
	May 31, 2022 (Unaudited)

	Global X Autonomous & Electric Vehicles ETF			Global X Cloud Computing ETF			Global X Data Center REITs & Digital Infrastructure ETF			Global X Cybersecurity ETF
Assets:
Cost of Investments	$	1,296,751,374		$	1,114,868,360		$	97,193,279		$	1,358,369,477
Cost of Repurchase Agreement		32,958,024			—			—			—
Cost of Foreign Currency		212,962			—			1			—
Investments, at Value	$	1,092,175,712	*	$	709,589,338		$	90,693,656		$	1,147,930,773
Repurchase Agreement, at Value		32,958,024			—			—			—
Cash		—			798,227			—			423,984
Foreign Currency, at Value		208,464			—			1			—
Dividend, Interest, and Securities Lending Income Receivable		1,836,450			86,479			207,382			85,660
Reclaim Receivable		219,253			—			—			1,722
Unrealized Appreciation on Spot Contracts		4,523			—			—			—
Receivable for Investment Securities Sold		—			5,953,680			—			7,732,752
Total Assets		1,127,402,426			716,427,724			90,901,039			1,156,174,891
Liabilities:
Obligation to Return Securities Lending Collateral		68,903,783			—			—			—
Payable due to Investment Adviser		593,621			421,397			33,844			494,986
Payable for Capital Shares Redeemed		—			5,815,089			—			7,643,033
Cash Overdraft		749,147			—			8,181,098			—
Custodian Fees Payable		431			14			75			827
Total Liabilities		70,246,982			6,236,500			8,215,017			8,138,846
Net Assets	$	1,057,155,444		$	710,191,224		$	82,686,022		$	1,148,036,045
Net Assets Consist of:
Paid-in Capital	$	1,220,641,354		$	1,149,046,930		$	87,038,406		$	1,382,527,622
Total Distributable Loss		(163,485,910	)		(438,855,706	)		(4,352,384	)		(234,491,577	)
Net Assets	$	1,057,155,444		$	710,191,224		$	82,686,022		$	1,148,036,045
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)		42,390,002			39,800,000			5,260,000			43,560,000
Net Asset Value, Offering and Redemption Price Per Share	$	24.94		$	17.84		$	15.72		$	26.36
*Includes Market Value of Securities on Loan	$	64,798,120		$	—		$	—		$	—

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

121

	Statements of Assets and Liabilities
	May 31, 2022 (Unaudited)

	Global X Artificial Intelligence & Technology ETF			Global X Metaverse ETF			Global X Millennial Consumer ETF			Global X Education ETF
Assets:
Cost of Investments	$	193,493,618		$	2,426,070		$	173,043,885		$	10,481,009
Cost of Repurchase Agreement		1,081,641			—			120,982			—
Cost of Foreign Currency		(651	)		—			—			1
Investments, at Value	$	152,725,295	*	$	2,350,165		$	121,274,816	*	$	4,016,022
Repurchase Agreement, at Value		1,081,641			—			120,982			—
Cash		138,043			4,055			124,625			3,028
Foreign Currency, at Value		—			—			—			1
Receivable for Investment Securities Sold		1,567,389			444,466			—			—
Dividend, Interest, and Securities Lending Income Receivable		186,768			566			20,436			7,296
Reclaim Receivable		23,786			—			—			—
Total Assets		155,722,922			2,799,252			121,540,859			4,026,347
Liabilities:
Obligation to Return Securities Lending Collateral		2,246,041			—			251,220			—
Payable for Capital Shares Redeemed		1,593,044			—			—			—
Payable due to Investment Adviser		88,909			980			54,568			1,669
Overdraft of Foreign Currency		654			—			—			—
Payable for Investment Securities Purchased		—			444,152			—			—
Custodian Fees Payable		—			2			25			17
Total Liabilities		3,928,648			445,134			305,813			1,686
Net Assets	$	151,794,274		$	2,354,118		$	121,235,046		$	4,024,661
Net Assets Consist of:
Paid-in Capital	$	194,325,027		$	2,410,000		$	163,800,789		$	12,450,336
Total Distributable Loss		(42,530,753	)		(55,882	)		(42,565,743	)		(8,425,675	)
Net Assets	$	151,794,274		$	2,354,118		$	121,235,046		$	4,024,661
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)		6,670,002			100,000			4,110,000			610,000
Net Asset Value, Offering and Redemption Price Per Share	$	22.76		$	23.54		$	29.50		$	6.60
*Includes Market Value of Securities on Loan	$	2,209,114		$	—		$	244,110		$	—

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

122

	Statements of Assets and Liabilities
	May 31, 2022 (Unaudited)

	Global X Cannabis ETF			Global X Genomics & Biotechnology ETF			Global X China Biotech Innovation ETF			Global X Telemedicine & Digital Health ETF
Assets:
Cost of Investments	$	181,904,585		$	276,293,552		$	3,705,418		$	327,755,157
Cost of Repurchase Agreement		9,338,332			3,480,701			—			5,052,149
Cost of Foreign Currency		—			2			—			11
Investments, at Value	$	70,956,002	*	$	174,935,512	*	$	2,641,385		$	175,948,306	*
Repurchase Agreement, at Value		9,338,332			3,480,701			—			5,052,149
Cash		—			—			4,382			368,044
Foreign Currency, at Value		—			2			—			11
Dividend, Interest, and Securities Lending Income Receivable		199,611			32,552			2,651			45,098
Receivable for Investment Securities Sold		85,814			—			—			—
Receivable for Capital Shares Sold		—			2,359,321			—			—
Reclaim Receivable		—			—			—			10,799
Total Assets		80,579,759			180,808,088			2,648,418			181,424,407
Liabilities:
Obligation to Return Securities Lending Collateral		19,621,932			7,227,717			—			10,490,847
Payable for Investment Securities Purchased		38,099			2,268,348			—			—
Payable due to Investment Adviser		27,744			64,389			1,437			100,204
Unrealized Depreciation on Spot Contracts		33			—			—			—
Cash Overdraft		188,720			22,316			—			—
Custodian Fees Payable		99			18			—			10
Total Liabilities		19,876,627			9,582,788			1,437			10,591,061
Net Assets	$	60,703,132		$	171,225,300		$	2,646,981		$	170,833,346
Net Assets Consist of:
Paid-in Capital	$	298,429,490		$	304,516,200		$	4,641,506		$	363,385,111
Total Distributable Loss		(237,726,358	)		(133,290,900	)		(1,994,525	)		(192,551,765	)
Net Assets	$	60,703,132		$	171,225,300		$	2,646,981		$	170,833,346
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)		17,790,000			14,290,000			270,000			14,320,000
Net Asset Value, Offering and Redemption Price Per Share	$	3.41		$	11.98		$	9.80		$	11.93
*Includes Market Value of Securities on Loan	$	17,831,556		$	6,799,127		$	—		$	9,795,363

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

123

	Statements of Assets and Liabilities
	May 31, 2022 (Unaudited)

	Global X Aging Population ETF			Global X Health & Wellness ETF			Global X CleanTech ETF			Global X U.S. Infrastructure Development ETF
Assets:
Cost of Investments	$	57,320,304		$	31,286,051		$	170,221,760		$	4,345,416,109
Cost of Repurchase Agreement		—			—			—			1,522,016
Cost of Foreign Currency		(1,460	)		6,922			3			—
Investments, at Value	$	51,392,764		$	23,641,109		$	114,992,832		$	4,371,177,534	*
Repurchase Agreement, at Value		—			—			—			1,522,016
Cash		2,295			3,865			50,107			8,799,971
Foreign Currency, at Value		—			6,841			3			—
Dividend, Interest, and Securities Lending Income Receivable		47,125			28,125			99,599			5,512,235
Reclaim Receivable		37,958			13,374			19,337			—
Unrealized Appreciation on Spot Contracts		—			90			—			—
Receivable for Investment Securities Sold		—			1,291,615			—			—
Total Assets		51,480,142			24,985,019			115,161,878			4,387,011,756
Liabilities:
Obligation to Return Securities Lending Collateral		—			—			—			3,160,485
Payable due to Investment Adviser		21,550			10,583			45,550			1,753,759
Payable for Investment Securities Purchased		—			—			—			8,195,588
Payable for Capital Shares Redeemed		—			1,291,814			—			—
Overdraft of Foreign Currency		1,460			—			—			—
Custodian Fees Payable		—			4			—			—
Total Liabilities		23,010			1,302,401			45,550			13,109,832
Net Assets	$	51,457,132		$	23,682,618		$	115,116,328		$	4,373,901,924
Net Assets Consist of:
Paid-in Capital	$	56,478,093		$	33,122,055		$	193,697,552		$	4,173,980,106
Total Distributable Earnings/(Loss)		(5,020,961	)		(9,439,437	)		(78,581,224	)		199,921,818
Net Assets	$	51,457,132		$	23,682,618		$	115,116,328		$	4,373,901,924
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)		1,970,000			1,100,000			7,780,000			169,440,000
Net Asset Value, Offering and Redemption Price Per Share	$	26.12		$	21.53		$	14.80		$	25.81
*Includes Market Value of Securities on Loan	$	—		$	—		$	—		$	3,062,844

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

124

	Statements of Assets and Liabilities
	May 31, 2022 (Unaudited)

	Global X Thematic Growth ETF			Global X AgTech & Food Innovation ETF			Global X Blockchain ETF			Global X Clean Water ETF
Assets:
Cost of Investments	$	3,340,224		$	8,172,042		$	178,745,015		$	7,363,065
Cost of Repurchase Agreement		3,102,821			—			9,947,946			—
Cost of Affiliated Investments		124,684,157			—			—			—
Cost of Foreign Currency		—			84			67			2,634
Investments, at Value	$	3,340,224	*	$	6,484,361		$	78,764,659	*	$	6,290,044
Repurchase Agreement, at Value		3,102,821			—			9,947,946			—
Affiliated Investments, at Value		79,839,236			—			—			—
Cash		104,900			—			—			—
Foreign Currency, at Value		—			85			67			2,649
Dividend, Interest, and Securities Lending Income Receivable		21,579			8,323			77,932			14,323
Receivable for Investment Securities Sold		—			—			326,663			—
Reclaim Receivable		—			2,165			—			484
Receivable due from Investment Adviser		11,031			—			—			—
Total Assets		86,419,791			6,494,934			89,117,267			6,307,500
Liabilities:
Obligation to Return Securities Lending Collateral		6,443,045			—			20,668,667			—
Payable due to Investment Adviser		—			2,487			29,134			2,642
Unrealized Depreciation on Spot Contracts		—			—			—			17
Cash Overdraft		—			547,633			414,687			4,995
Custodian Fees Payable		—			—			778			2
Total Liabilities		6,443,045			550,120			21,113,266			7,656
Net Assets	$	79,976,746		$	5,944,814		$	68,004,001		$	6,299,844
Net Assets Consist of:
Paid-in Capital	$	136,695,093		$	7,469,823		$	201,189,447		$	7,428,111
Total Distributable Loss		(56,718,347	)		(1,525,009	)		(133,185,446	)		(1,128,267	)
Net Assets	$	79,976,746		$	5,944,814		$	68,004,001		$	6,299,844
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)		2,540,000			330,000			8,040,000			450,000
Net Asset Value, Offering and Redemption Price Per Share	$	31.49		$	18.01		$	8.46		$	14.00
*Includes Market Value of Securities on Loan	$	5,891,717		$	—		$	19,359,921		$	—

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

125

	Statements of Assets and Liabilities
	May 31, 2022 (Unaudited)

	Global X Hydrogen ETF			Global X Solar ETF			Global X Wind Energy ETF			Global X Green Building ETF
Assets:
Cost of Investments	$	45,424,051		$	7,402,436		$	4,418,863		$	2,545,048
Cost of Foreign Currency		9,017			25,101			2,615			1,123
Investments, at Value	$	34,960,826		$	8,444,191		$	3,771,138		$	2,378,505
Cash		—			—			1,023			629
Foreign Currency, at Value		8,910			25,525			2,628			1,124
Dividend, Interest, and Securities Lending Income Receivable		6,914			3,111			1,422			4,943
Reclaim Receivable		664			232			900			1,343
Unrealized Appreciation on Spot Contracts		118			—			—			2
Total Assets		34,977,432			8,473,059			3,777,111			2,386,546
Liabilities:
Payable due to Investment Adviser		13,253			3,265			1,494			—
Unrealized Depreciation on Spot Contracts		—			—			15			—
Cash Overdraft		2,875,231			14,783			—			—
Custodian Fees Payable		—			69			1			900
Total Liabilities		2,888,484			18,117			1,510			900
Net Assets	$	32,088,948		$	8,454,942		$	3,775,601		$	2,385,646
Net Assets Consist of:
Paid-in Capital	$	50,178,417		$	10,137,876		$	4,767,391		$	2,537,579
Total Distributable Loss		(18,089,469	)		(1,682,934	)		(991,790	)		(151,933	)
Net Assets	$	32,088,948		$	8,454,942		$	3,775,601		$	2,385,646
Outstanding Shares of Beneficial Interest
(unlimited authorization — no par value)		2,240,000			420,000			190,000			100,000
Net Asset Value, Offering and Redemption Price Per Share	$	14.33		$	20.13		$	19.87		$	23.86

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

126

	Statements of Operations
	For the period ended May 31, 2022 (Unaudited)

	Global X Robotics & Artificial Intelligence ETF			Global X Internet of Things ETF			Global X FinTech ETF			Global X Video Games & Esports ETF
Investment Income:
Dividend Income	$	10,749,794		$	2,433,208		$	3,073,519		$	1,780,643
Interest Income		85			98			160			—
Security Lending Income		518,049			99,727			1,509,871			38,172
Less: Foreign Taxes Withheld		(1,358,693	)		(115,512	)		(91,345	)		(197,130	)
Total Investment Income		9,909,235			2,417,521			4,492,205			1,621,685
Supervision and Administration Fees⁽¹⁾		7,127,493			1,470,399			3,064,732			859,883
Custodian Fees⁽²⁾		28,435			360			583			886
Total Expenses		7,155,928			1,470,759			3,065,315			860,769
Net Investment Income		2,753,307			946,762			1,426,890			760,916
Net Realized Gain (Loss) on:
Investments⁽³⁾		17,780,456			22,428,996			17,199,520			(29,591,316	)
Foreign Currency Transactions		(199,898	)		(4,312	)		39,844			(58,935	)
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions		17,580,558			22,424,684			17,239,364			(29,650,251	)
Net Change in Unrealized Depreciation on:
Investments		(920,781,959	)		(130,860,418	)		(519,453,720	)		(58,760,383	)
Foreign Currency Translations		(277,425	)		(5,725	)		(6,309	)		(20,815	)
Net Change in Unrealized Depreciation on Investments and Foreign Currency Translations		(921,059,384	)		(130,866,143	)		(519,460,029	)		(58,781,198	)
Net Realized and Unrealized Loss on Investments and Foreign Currency Translations		(903,478,826	)		(108,441,459	)		(502,220,665	)		(88,431,449	)
Net Decrease in Net Assets Resulting from Operations	$	(900,725,519	)	$	(107,494,697	)	$	(500,793,775	)	$	(87,670,533	)

(1)	The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.)
(2)	See Note 2 in the Notes to Financial Statements.
(3)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to FinancialStatements.)

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

127

	Statements of Operations
	For the period ended May 31, 2022 (Unaudited)

	Global X Autonomous & Electric Vehicles ETF			Global X Cloud Computing ETF			Global X Data Center REITs & Digital Infrastructure ETF			Global X Cybersecurity ETF
Investment Income:
Dividend Income	$	8,655,585		$	923,367		$	727,425		$	2,922,103
Interest Income		161			214			161			115
Security Lending Income		829,436			1,027			—			—
Less: Foreign Taxes Withheld		(983,017	)		—			(15,475	)		(202,288	)
Total Investment Income		8,502,165			924,608			712,111			2,719,930
Supervision and Administration Fees⁽¹⁾		4,232,580			3,200,390			205,836			2,842,996
Tax Expense		2,855			—			—			—
Custodian Fees⁽²⁾		719			15			1,293			4,128
Total Expenses		4,236,154			3,200,405			207,129			2,847,124
Net Investment Income (Loss)		4,266,011			(2,275,797	)		504,982			(127,194	)
Net Realized Gain (Loss) on:
Investments⁽³⁾		44,065,093			(725,439	)		1,901,557			(12,445,620	)
Foreign Currency Transactions		(76,564	)		—			(2,374	)		(77,930	)
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions		43,988,529			(725,439	)		1,899,183			(12,523,550	)
Net Change in Unrealized Appreciation (Depreciation) on:
Investments		(300,800,232	)		(426,082,565	)		(11,470,585	)		(209,696,855	)
Foreign Currency Translations		(31,401	)		—			69			(1,669	)
Net Change in Unrealized Depreciation on Investments and Foreign Currency Translations		(300,831,633	)		(426,082,565	)		(11,470,516	)		(209,698,524	)
Net Realized and Unrealized Loss on Investments and Foreign Currency Translations		(256,843,104	)		(426,808,004	)		(9,571,333	)		(222,222,074	)
Net Decrease in Net Assets Resulting from Operations	$	(252,577,093	)	$	(429,083,801	)	$	(9,066,351	)	$	(222,349,268	)

(1)	The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.)
(2)	See Note 2 in the Notes to Financial Statements.
(3)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

128

	Statements of Operations
	For the period ended May 31, 2022 (Unaudited)

	Global X Artificial Intelligence & Technology ETF			Global X Metaverse ETF⁽¹⁾			Global X Millennial Consumer ETF			Global X Education ETF
Investment Income:
Dividend Income	$	973,992		$	41,024		$	563,486		$	29,425
Interest Income		—			—			46			—
Security Lending Income		28,668			—			1,574			—
Less: Foreign Taxes Withheld		(55,922	)		(17	)		—			(1,332	)
Total Investment Income		946,738			41,007			565,106			28,093
Supervision and Administration Fees⁽²⁾		558,699			1,078			438,434			12,625
Custodian Fees⁽³⁾		393			2			115			30
Total Expenses		559,092			1,080			438,549			12,655
Net Investment Income		387,646			39,927			126,557			15,438
Net Realized Gain (Loss) on:
Investments⁽⁴⁾		(698,649	)		(22,580	)		10,406,795			(1,001,824	)
Foreign Currency Transactions		(2,647	)		2,676			—			(1,183	)
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions		(701,296	)		(19,904	)		10,406,795			(1,003,007	)
Net Change in Unrealized Appreciation (Depreciation) on:
Investments		(56,299,910	)		(75,905	)		(72,994,681	)		(928,609	)
Foreign Currency Translations		(1,736	)		—			—			128
Net Change in Unrealized Depreciation on Investments and Foreign Currency Translations		(56,301,646	)		(75,905	)		(72,994,681	)		(928,481	)
Net Realized and Unrealized Loss on Investments and Foreign Currency Translations		(57,002,942	)		(95,809	)		(62,587,886	)		(1,931,488	)
Net Decrease in Net Assets Resulting from Operations	$	(56,615,296	)	$	(55,882	)	$	(62,461,329	)	$	(1,916,050	)

(1)	The Fund commenced operations on April 26, 2022.
(2)	The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.)
(3)	See Note 2 in the Notes to Financial Statements.
(4)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

129

	Statements of Operations
	For the period ended May 31, 2022 (Unaudited)

	Global X Cannabis ETF			Global X Genomics & Biotechnology ETF			Global X China Biotech Innovation ETF			Global X Telemedicine & Digital Health ETF
Investment Income:
Dividend Income	$	211,191		$	173,242		$	12,094		$	320,634
Interest Income		10			—			—			104
Security Lending Income		1,169,333			10,530			—			108,811
Less: Foreign Taxes Withheld		—			(5,877	)		(953	)		(7,115	)
Total Investment Income		1,380,534			177,895			11,141			422,434
Supervision and Administration Fees⁽¹⁾		207,483			463,563			10,554			844,301
Custodian Fees⁽²⁾		899			82			—			10
Total Expenses		208,382			463,645			10,554			844,311
Net Investment Income (Loss)		1,172,152			(285,750	)		587			(421,877	)
Net Realized Gain (Loss) on:
Investments⁽³⁾		(28,781,677	)		(23,910,038	)		(565,555	)		(29,710,590	)
Foreign Currency Transactions		2,778			(2,049	)		24			(16,061	)
Net Realized Loss on Investments and Foreign Currency Transactions		(28,778,899	)		(23,912,087	)		(565,531	)		(29,726,651	)
Net Change in Unrealized Depreciation on:
Investments		(32,889,099	)		(73,618,354	)		(1,096,691	)		(39,575,991	)
Foreign Currency Translations		(33	)		(1,515	)		—			(548	)
Net Change in Unrealized Depreciation on Investments and Foreign Currency Translations		(32,889,132	)		(73,619,869	)		(1,096,691	)		(39,576,539	)
Net Realized and Unrealized Loss on Investments and Foreign Currency Translations		(61,668,031	)		(97,531,956	)		(1,662,222	)		(69,303,190	)
Net Decrease in Net Assets Resulting from Operations	$	(60,495,879	)	$	(97,817,706	)	$	(1,661,635	)	$	(69,725,067	)

(1)	The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.)
(2)	See Note 2 in the Notes to Financial Statements.
(3)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

130

	Statements of Operations
	For the period ended May 31, 2022 (Unaudited)

	Global X Aging Population ETF			Global X Health & Wellness ETF			Global X CleanTech ETF			Global X U.S. Infrastructure Development ETF
Investment Income:
Dividend Income	$	434,211		$	196,964		$	195,631		$	29,923,411
Interest Income		4			4			—			1,262
Security Lending Income		—			—			—			6,872
Less: Foreign Taxes Withheld		(24,773	)		(17,896	)		(8,312	)		(150,746	)
Total Investment Income		409,442			179,072			187,319			29,780,799
Supervision and Administration Fees⁽¹⁾		141,924			81,947			292,837			11,760,924
Custodian Fees⁽²⁾		83			9			313			318
Total Expenses		142,007			81,956			293,150			11,761,242
Net Investment Income (Loss)		267,435			97,116			(105,831	)		18,019,557
Net Realized Gain (Loss) on:
Investments⁽³⁾		1,846,110			(1,207,151	)		(8,373,521	)		178,845,157
Foreign Currency Transactions		(142	)		(6,021	)		5,063			—
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions		1,845,968			(1,213,172	)		(8,368,458	)		178,845,157
Net Change in Unrealized Depreciation on:
Investments		(4,337,233	)		(7,610,391	)		(36,589,898	)		(443,162,884	)
Foreign Currency Translations		(1,653	)		(531	)		(875	)		—
Net Change in Unrealized Depreciation on Investments and Foreign Currency Translations		(4,338,886	)		(7,610,922	)		(36,590,773	)		(443,162,884	)
Net Realized and Unrealized Loss on Investments and Foreign Currency Translations		(2,492,918	)		(8,824,094	)		(44,959,231	)		(264,317,727	)
Net Decrease in Net Assets Resulting from Operations	$	(2,225,483	)	$	(8,726,978	)	$	(45,065,062	)	$	(246,298,170	)

(1)	The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.)
(2)	See Note 2 in the Notes to Financial Statements.
(3)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

131

	Statements of Operations
	For the period ended May 31, 2022 (Unaudited)

	Global X Thematic Growth ETF			Global X AgTech & Food Innovation ETF			Global X Blockchain ETF			Global X Clean Water ETF
Investment Income:
Dividend Income	$	—		$	44,622		$	1,006		$	63,606
Dividend Income, from Affiliated Investments		1,064,807			—			—			—
Interest Income		—			8			27			—
Security Lending Income		150,253			—			717,457			—
Less: Foreign Taxes Withheld		—			(3,920	)		—			(1,681	)
Total Investment Income		1,215,060			40,710			718,490			61,925
Supervision and Administration Fees⁽¹⁾		235,136			14,807			244,048			19,122
Custodian Fees⁽²⁾		28			101			856			73
Total Expenses		235,164			14,908			244,904			19,195
Reimbursement from Adviser ¹⁽³⁾		(303,817	)		–			–			–
Net Expenses		(68,653	)		14,908			244,904			19,195
Net Investment Income		1,283,713			25,802			473,586			42,730
Net Realized Gain (Loss) on:
Investments⁽⁴⁾		—			230,877			(27,631,753	)		(80,607	)
Affiliated Investments		(9,101,647	)		—			—			—
Foreign Currency Transactions		—			1,475			5,197			(466	)
Capital Gain Distribution from Affiliated Investments		306,532			—			—			—
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions		(8,795,115	)		232,352			(27,626,556	)		(81,073	)
Net Change in Unrealized Appreciation (Depreciation) on:
Investments		—			(772,597	)		(103,530,105	)		(1,194,205	)
Affiliated Investments		(31,001,645	)		—			—			—
Foreign Currency Translations		—			204			—			—
Net Change in Unrealized Depreciation on Investments and Foreign Currency Translations		(31,001,645	)		(772,393	)		(103,530,105	)		(1,194,205	)
Net Realized and Unrealized Loss on Investments and Foreign Currency Translations		(39,796,760	)		(540,041	)		(131,156,661	)		(1,275,278	)
Net Decrease in Net Assets Resulting from Operations	$	(38,513,047	)	$	(514,239	)	$	(130,683,075	)	$	(1,232,548	)

(1)	The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.)
(2)	See Note 2 in the Notes to Financial Statements.
(3)	See Note 3 in the Notes to Financial Statements.
(4)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

132

	Statements of Operations
	For the period ended May 31, 2022 (Unaudited)

	Global X Hydrogen ETF			Global X Solar ETF			Global X Wind Energy ETF			Global X Green Building ETF⁽¹⁾
Investment Income:
Dividend Income	$	39,854		$	9,172		$	27,673		$	16,622
Interest Income		40			1			1			—
Less: Foreign Taxes Withheld		(1,906	)		(1,013	)		(4,279	)		(440	)
Total Investment Income		37,988			8,160			23,395			16,182
Supervision and Administration Fees⁽²⁾		74,001			20,039			9,967			1,454
Custodian Fees⁽³⁾		140			454			75			1
Total Expenses		74,141			20,493			10,042			1,455
Net Investment Income (Loss)		(36,153	)		(12,333	)		13,353			14,727
Net Realized Loss on:
Investments⁽⁴⁾		(7,428,610	)		(2,688,273	)		(300,295	)		(45	)
Foreign Currency Transactions		(3,026	)		(5,592	)		(501	)		(103	)
Net Realized Loss on Investments and Foreign Currency Transactions		(7,431,636	)		(2,693,865	)		(300,796	)		(148	)
Net Change in Unrealized Appreciation (Depreciation) on:
Investments		(9,939,478	)		1,014,622			(448,494	)		(166,543	)
Foreign Currency Translations		(1,681	)		405			1			31
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(9,941,159	)		1,015,027			(448,493	)		(166,512	)
Net Realized and Unrealized Loss on Investments and Foreign Currency Translations		(17,372,795	)		(1,678,838	)		(749,289	)		(166,660	)
Net Decrease in Net Assets Resulting from Operations	$	(17,408,948	)	$	(1,691,171	)	$	(735,936	)	$	(151,933	)

(1)	The Fund commenced operations on April 11, 2022.
(2)	The Supervision and Administration fees reflect the supervisory and administrative fee, which includes fees paid by the Funds for the investment advisory services provided by the Adviser. (See Note 3 in Notes to Financial Statements.)
(3)	See Note 2 in the Notes to Financial Statements.
(4)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

133

	Statements of Changes in Net Assets

	Global X Robotics & Artificial Intelligence ETF						Global X Internet of Things ETF
	Period Ended May 31, 2022 (Unaudited)			Year Ended November 30, 2021			Period Ended May 31, 2022 (Unaudited)			Year Ended November 30, 2021
Operations:
Net Investment Income	$	2,753,307		$	1,654,290		$	946,762		$	1,589,942
Net Realized Gain on Investments and Foreign Currency Transactions ⁽¹⁾		17,580,558			105,766,523			22,424,684			6,751,212
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(921,059,384	)		194,707,839			(130,866,143	)		80,373,236
Net Increase (Decrease) in Net Assets Resulting from Operations		(900,725,519	)		302,128,652			(107,494,697	)		88,714,390
Distributions		—			(1,369,174	)		(1,600,465	)		(1,320,266	)
Return of Capital		—			(3,009,240	)		—			—
Capital Share Transactions:
Issued		9,162,680			516,103,043			5,209,484			139,901,773
Redeemed		(227,814,043	)		(268,539,477	)		(72,773,041	)		(6,512,771	)
Increase (Decrease) in Net Assets from Capital Share Transactions		(218,651,363	)		247,563,566			(67,563,557	)		133,389,002
Total Increase (Decrease) in Net Assets		(1,119,376,882	)		545,313,804			(176,658,719	)		220,783,126
Net Assets:
Beginning of Year/Period		2,703,488,391			2,158,174,587			517,291,078			296,507,952
End of Year/Period	$	1,584,111,509		$	2,703,488,391		$	340,632,359		$	517,291,078
Share Transactions:
Issued		310,000			14,770,000			150,000			4,030,000
Redeemed		(8,530,000	)		(8,080,000	)		(2,320,000	)		(200,000	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions		(8,220,000	)		6,690,000			(2,170,000	)		3,830,000

(1)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

134

	Statements of Changes in Net Assets

	Global X FinTech ETF						Global X Video Games & Esports ETF
	Period Ended May 31, 2022 (Unaudited)			Year Ended November 30, 2021			Period Ended May 31, 2022 (Unaudited)			Year Ended November 30, 2021
Operations:
Net Investment Income (Loss)	$	1,426,890		$	(3,432,189	)	$	760,916		$	546,006
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions ⁽¹⁾		17,239,364			38,623,458			(29,650,251	)		120,634,902
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(519,460,029	)		(300,467	)		(58,781,198	)		(126,766,464	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(500,793,775	)		34,890,802			(87,670,533	)		(5,585,556	)
Distributions		(61,778,507	)		—			(2,992,645	)		(4,336,763	)
Capital Share Transactions:
Issued		80,810,023			457,538,483			6,227,856			502,883,686
Redeemed		(112,141,625	)		(77,598,302	)		(137,076,095	)		(489,067,100	)
Increase (Decrease) in Net Assets from Capital Share Transactions		(31,331,602	)		379,940,181			(130,848,239	)		13,816,586
Total Increase (Decrease) in Net Assets		(593,903,884	)		414,830,983			(221,511,417	)		3,894,267
Net Assets:
Beginning of Year/Period		1,289,005,532			874,174,549			485,234,982			481,340,715
End of Year/Period	$	695,101,648		$	1,289,005,532		$	263,723,565		$	485,234,982
Share Transactions:
Issued		2,490,000			9,580,000			240,000			15,330,000
Redeemed		(3,360,000	)		(1,710,000	)		(5,330,000	)		(15,740,000	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions		(870,000	)		7,870,000			(5,090,000	)		(410,000	)

(1)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

135

	Statements of Changes in Net Assets

	Global X Autonomous & Electric Vehicles ETF						Global X Cloud Computing ETF
	Period Ended May 31, 2022 (Unaudited)			Year Ended November 30, 2021			Period Ended May 31, 2022 (Unaudited)			Year Ended November 30, 2021
Operations:
Net Investment Income (Loss)	$	4,266,011		$	2,906,179		$	(2,275,797	)	$	(7,571,106	)
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions ⁽¹⁾		43,988,529			80,701,523			(725,439	)		368,583,149
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(300,831,633	)		75,907,068			(426,082,565	)		(231,440,130	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(252,577,093	)		159,514,770			(429,083,801	)		129,571,913
Distributions		(1,928,100	)		(2,137,703	)		(21,230,047	)		—
Capital Share Transactions:
Issued		332,587,479			1,323,971,188			137,419,298			631,431,054
Redeemed		(344,472,870	)		(293,724,764	)		(294,458,198	)		(848,948,000	)
Increase (Decrease) in Net Assets from Capital Share Transactions		(11,885,391	)		1,030,246,424			(157,038,900	)		(217,516,946	)
Total Increase (Decrease) in Net Assets		(266,390,584	)		1,187,623,491			(607,352,748	)		(87,945,033	)
Net Assets:
Beginning of Year/Period		1,323,546,028			135,922,537			1,317,543,972			1,405,489,005
End of Year/Period	$	1,057,155,444		$	1,323,546,028		$	710,191,224		$	1,317,543,972
Share Transactions:
Issued		11,660,000			48,040,000			7,150,000			21,430,000
Redeemed		(12,790,000	)		(10,770,000	)		(13,780,000	)		(29,400,000	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions		(1,130,000	)		37,270,000			(6,630,000	)		(7,970,000	)

(1)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

136

	Statements of Changes in Net Assets

	Global X Data Center REITs & Digital Infrastructure ETF						Global X Cybersecurity ETF
	Period Ended May 31, 2022 (Unaudited)			Year Ended November 30, 2021			Period Ended May 31, 2022 (Unaudited)			Year Ended November 30, 2021
Operations:
Net Investment Income (Loss)	$	504,982		$	397,989		$	(127,194	)	$	2,556,730
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions ⁽¹⁾		1,899,183			2,329,475			(12,523,550	)		54,892,114
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(11,470,516	)		4,979,795			(209,698,524	)		(5,445,712	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(9,066,351	)		7,707,259			(222,349,268	)		52,003,132
Distributions		(731,898	)		(239,154	)		(7,499,545	)		(165,949	)
Capital Share Transactions:
Issued		22,967,028			76,496,797			360,211,050			1,727,556,856
Redeemed		(8,580,342	)		(9,602,874	)		(114,416,476	)		(693,937,307	)
Increase in Net Assets from Capital Share Transactions		14,386,686			66,893,923			245,794,574			1,033,619,549
Total Increase in Net Assets		4,588,437			74,362,028			15,945,761			1,085,456,732
Net Assets:
Beginning of Year/Period		78,097,585			3,735,557			1,132,090,284			46,633,552
End of Year/Period	$	82,686,022		$	78,097,585		$	1,148,036,045		$	1,132,090,284
Share Transactions:
Issued		1,420,000			4,690,000			12,220,000			58,280,000
Redeemed		(540,000	)		(560,000	)		(4,320,000	)		(24,670,000	)
Net Increase in Shares Outstanding from Share Transactions		880,000			4,130,000			7,900,000			33,610,000

(1)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

137

	Statements of Changes in Net Assets

	Global X Artificial Intelligence & Technology ETF						Global X Metaverse ETF
	Period Ended May 31, 2022 (Unaudited)			Year Ended November 30, 2021			Period Ended May 31, 2022⁽¹⁾ (Unaudited)
Operations:
Net Investment Income	$	387,646		$	302,809		$	39,927
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions ⁽²⁾		(701,296	)		40,287,434			(19,904	)
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(56,301,646	)		(8,749,293	)		(75,905	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(56,615,296	)		31,840,950			(55,882	)
Distributions		(77,000	)		(496,492	)		—
Capital Share Transactions:
Issued		43,511,028			156,875,013			2,410,000
Redeemed		(21,358,925	)		(122,053,513	)		—
Increase in Net Assets from Capital Share Transactions		22,152,103			34,821,500			2,410,000
Total Increase (Decrease) in Net Assets		(34,540,193	)		66,165,958			2,354,118
Net Assets:
Beginning of Year/Period		186,334,467			120,168,509			—
End of Year/Period	$	151,794,274		$	186,334,467		$	2,354,118
Share Transactions:
Issued		1,640,000			5,430,000			100,000
Redeemed		(870,000	)		(4,180,000	)		—
Net Increase in Shares Outstanding from Share Transactions		770,000			1,250,000			100,000

(1)	The Fund commenced operations on April 26, 2022.
(2)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

138

	Statements of Changes in Net Assets

	Global X Millennial Consumer ETF						Global X Education ETF
	Period Ended May 31, 2022 (Unaudited)			Year Ended November 30, 2021			Period Ended May 31, 2022 (Unaudited)			Year Ended November 30, 2021
Operations:
Net Investment Income	$	126,557		$	343,605		$	15,438		$	4,008
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions ⁽¹⁾		10,406,795			33,121,119			(1,003,007	)		(1,079,335	)
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(72,994,681	)		(7,238,875	)		(928,481	)		(5,996,495	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(62,461,329	)		26,225,849			(1,916,050	)		(7,071,822	)
Distributions		(343,441	)		(197,478	)		(1,132	)		(4,036	)
Return of Capital		—			—			—			(6,036	)
Capital Share Transactions:
Issued		11,509,759			155,153,247			54			9,647,103
Redeemed		(54,545,309	)		(68,616,926	)		(545,918	)		(2,933,247	)
Increase (Decrease) in Net Assets from Capital Share Transactions		(43,035,550	)		86,536,321			(545,864	)		6,713,856
Total Increase (Decrease) in Net Assets		(105,840,320	)		112,564,692			(2,463,046	)		(368,038	)
Net Assets:
Beginning of Year/Period		227,075,366			114,510,674			6,487,707			6,855,745
End of Year/Period	$	121,235,046		$	227,075,366		$	4,024,661		$	6,487,707
Share Transactions:
Issued		320,000			3,710,000			—			520,000
Redeemed		(1,530,000	)		(1,640,000	)		(70,000	)		(240,000	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions		(1,210,000	)		2,070,000			(70,000	)		280,000

(1)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

139

	Statements of Changes in Net Assets

	Global X Cannabis ETF						Global X Genomics & Biotechnology ETF
	Period Ended May 31, 2022 (Unaudited)			Year Ended November 30, 2021			Period Ended May 31, 2022 (Unaudited)			Year Ended November 30, 2021
Operations:
Net Investment Income (Loss)	$	1,172,152		$	2,579,388		$	(285,750	)	$	(753,596	)
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions ⁽¹⁾		(28,778,899	)		(70,548,608	)		(23,912,087	)		7,773,338
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(32,889,132	)		(83,571,989	)		(73,619,869	)		(41,829,286	)
Net Decrease in Net Assets Resulting from Operations		(60,495,879	)		(151,541,209	)		(97,817,706	)		(34,809,544	)
Distributions		(2,453,149	)		(1,884,853	)		(81,403	)		(157,150	)
Capital Share Transactions:
Issued		19,530,600			275,820,914			58,398,981			244,145,634
Redeemed		(1,427,283	)		(53,005,874	)		(44,846,668	)		(35,557,651	)
Increase in Net Assets from Capital Share Transactions		18,103,317			222,815,040			13,552,313			208,587,983
Total Increase (Decrease) in Net Assets		(44,845,711	)		69,388,978			(84,346,796	)		173,621,289
Net Assets:
Beginning of Year/Period		105,548,843			36,159,865			255,572,096			81,950,807
End of Year/Period	$	60,703,132		$	105,548,843		$	171,225,300		$	255,572,096
Share Transactions:
Issued		3,430,000			14,560,000			4,840,000			10,100,000
Redeemed		(250,000	)		(2,950,000	)		(2,950,000	)		(1,600,000	)
Net Increase in Shares Outstanding from Share Transactions		3,180,000			11,610,000			1,890,000			8,500,000

(1)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

140

	Statements of Changes in Net Assets

	Global X China Biotech Innovation ETF						Global X Telemedicine & Digital Health ETF
	Period Ended May 31, 2022 (Unaudited)			Year Ended November 30, 2021			Period Ended May 31, 2022 (Unaudited)			Year Ended November 30, 2021
Operations:
Net Investment Income (Loss)	$	587		$	(15,515	)	$	(421,877	)	$	(3,567,502	)
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions ⁽¹⁾		(565,531	)		(200,859	)		(29,726,651	)		81,381,966
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(1,096,691	)		90,211			(39,576,539	)		(167,183,859	)
Net Decrease in Net Assets Resulting from Operations		(1,661,635	)		(126,163	)		(69,725,067	)		(89,369,395	)
Distributions		—			—			—			(193,332	)
Capital Share Transactions:
Issued		—			3,521,172			9,701,359			416,278,429
Redeemed		—			(1,318,521	)		(244,718,861	)		(341,814,594	)
Increase (Decrease) in Net Assets from Capital Share Transactions		—			2,202,651			(235,017,502	)		74,463,835
Total Increase (Decrease) in Net Assets		(1,661,635	)		2,076,488			(304,742,569	)		(15,098,892	)
Net Assets:
Beginning of Year/Period		4,308,616			2,232,128			475,575,915			490,674,807
End of Year/Period	$	2,646,981		$	4,308,616		$	170,833,346		$	475,575,915
Share Transactions:
Issued		—			200,000			720,000			21,160,000
Redeemed		—			(80,000	)		(15,540,000	)		(18,670,000	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions		—			120,000			(14,820,000	)		2,490,000

(1)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

141

	Statements of Changes in Net Assets

	Global X Aging Population ETF						Global X Health & Wellness ETF
	Period Ended May 31, 2022 (Unaudited)			Year Ended November 30, 2021			Period Ended May 31, 2022 (Unaudited)			Year Ended November 30, 2021
Operations:
Net Investment Income	$	267,435		$	227,700		$	97,116		$	233,954
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions ⁽¹⁾		1,845,968			7,440,686			(1,213,172	)		4,528,210
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(4,338,886	)		(8,326,852	)		(7,610,922	)		(1,454,915	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(2,225,483	)		(658,466	)		(8,726,978	)		3,307,249
Distributions		(379,904	)		(168,728	)		(200,968	)		(137,684	)
Capital Share Transactions:
Issued		2,009,432			37,949,132			2,796			34,773,877
Redeemed		(7,702,896	)		(20,272,786	)		(7,483,562	)		(18,348,025	)
Increase (Decrease) in Net Assets from Capital Share Transactions		(5,693,464	)		17,676,346			(7,480,766	)		16,425,852
Total Increase (Decrease) in Net Assets		(8,298,851	)		16,849,152			(16,408,712	)		19,595,417
Net Assets:
Beginning of Year/Period		59,755,983			42,906,831			40,091,330			20,495,913
End of Year/Period	$	51,457,132		$	59,755,983		$	23,682,618		$	40,091,330
Share Transactions:
Issued		70,000			1,290,000			—			1,220,000
Redeemed		(280,000	)		(710,000	)		(330,000	)		(640,000	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions		(210,000	)		580,000			(330,000	)		580,000

(1)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

142

	Statements of Changes in Net Assets

	Global X CleanTech ETF						Global X U.S. Infrastructure Development ETF
	Period Ended May 31, 2022 (Unaudited)			Year Ended November 30, 2021			Period Ended May 31, 2022 (Unaudited)			Year Ended November 30, 2021
Operations:
Net Investment Income (Loss)	$	(105,831	)	$	140,148		$	18,019,557		$	19,790,933
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions ⁽¹⁾		(8,368,458	)		(14,025,855	)		178,845,157			104,623,377
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(36,590,773	)		(21,087,144	)		(443,162,884	)		401,755,516
Net Increase (Decrease) in Net Assets Resulting from Operations		(45,065,062	)		(34,972,851	)		(246,298,170	)		526,169,826
Distributions		(417,473	)		(85,349	)		(19,256,573	)		(7,771,784	)
Capital Share Transactions:
Issued		19,630,575			206,263,932			251,637,416			4,363,784,152
Redeemed		(34,490,097	)		(24,270,816	)		(798,677,483	)		(349,320,945	)
Increase (Decrease) in Net Assets from Capital Share Transactions		(14,859,522	)		181,993,116			(547,040,067	)		4,014,463,207
Total Increase (Decrease) in Net Assets		(60,342,057	)		146,934,916			(812,594,810	)		4,532,861,249
Net Assets:
Beginning of Year/Period		175,458,385			28,523,469			5,186,496,734			653,635,485
End of Year/Period	$	115,116,328		$	175,458,385		$	4,373,901,924		$	5,186,496,734
Share Transactions:
Issued		1,200,000			8,430,000			8,960,000			172,070,000
Redeemed		(2,010,000	)		(1,340,000	)		(30,290,000	)		(13,600,000	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions		(810,000	)		7,090,000			(21,330,000	)		158,470,000

(1)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

143

	Statements of Changes in Net Assets

	Global X Thematic Growth ETF						Global X AgTech & Food Innovation ETF
	Period Ended May 31, 2022 (Unaudited)			Year Ended November 30, 2021			Period Ended May 31, 2022 (Unaudited)			Period Ended November 30, 2021⁽¹⁾
Operations:
Net Investment Income	$	1,283,713		$	726,486		$	25,802		$	8,140
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions ⁽²⁾		(8,795,115	)		14,518,969			232,352			(62,971	)
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(31,001,645	)		(18,755,820	)		(772,393	)		(915,209	)
Net Decrease in Net Assets Resulting from Operations		(38,513,047	)		(3,510,365	)		(514,239	)		(970,040	)
Distributions		(1,456,749	)		(391,721	)		(40,730	)		—
Capital Share Transactions:
Issued		19,158,791			152,944,973			2,472,551			6,503,520
Redeemed		(9,293,689	)		(75,042,293	)		(1,506,248	)		—
Increase in Net Assets from Capital Share Transactions		9,865,102			77,902,680			966,303			6,503,520
Total Increase (Decrease) in Net Assets		(30,104,694	)		74,000,594			411,334			5,533,480
Net Assets:
Beginning of Year/Period		110,081,440			36,080,846			5,533,480			—
End of Year/Period	$	79,976,746		$	110,081,440		$	5,944,814		$	5,533,480
Share Transactions:
Issued		480,000			2,910,000			130,000			280,000
Redeemed		(250,000	)		(1,450,000	)		(80,000	)		—
Net Increase in Shares Outstanding from Share Transactions		230,000			1,460,000			50,000			280,000

(1)	The Fund commenced operations on July 12, 2021.
(2)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

144

	Statements of Changes in Net Assets

	Global X Blockchain ETF						Global X Clean Water ETF
	Period Ended May 31, 2022 (Unaudited)			Period Ended November 30, 2021⁽¹⁾			Period Ended May 31, 2022 (Unaudited)			Period Ended November 30, 2021⁽²⁾
Operations:
Net Investment Income	$	473,586		$	101,534		$	42,730		$	85,214
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions ⁽³⁾		(27,626,556	)		5,704,456			(81,073	)		26,417
Net Change in Unrealized Appreciation (Depreciation) on Investments		(103,530,105	)		3,549,749			(1,194,205	)		121,153
Net Increase (Decrease) in Net Assets Resulting from Operations		(130,683,075	)		9,355,739			(1,232,548	)		232,784
Distributions		(4,557,764	)		—			(87,793	)		(8,160	)
Capital Share Transactions:
Issued		80,850,538			129,901,496			—			8,645,836
Redeemed		(5,325,910	)		(11,537,023	)		(1,079,254	)		(171,021	)
Increase (Decrease) in Net Assets from Capital Share Transactions		75,524,628			118,364,473			(1,079,254	)		8,474,815
Total Increase (Decrease) in Net Assets		(59,716,211	)		127,720,212			(2,399,595	)		8,699,439
Net Assets:
Beginning of Period		127,720,212			—			8,699,439			—
End of Period	$	68,004,001		$	127,720,212		$	6,299,844		$	8,699,439
Share Transactions:
Issued		4,400,000			4,250,000			—			530,000
Redeemed		(310,000	)		(300,000	)		(70,000	)		(10,000	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions		4,090,000			3,950,000			(70,000	)		520,000

(1)	The Fund commenced operations on July 12, 2021.
(2)	The Fund commenced operations on April 8, 2021.
(3)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

145

	Statements of Changes in Net Assets

	Global X Hydrogen ETF						Global X Solar ETF
	Period Ended May 31, 2022 (Unaudited)			Period Ended November 30, 2021⁽¹⁾			Period Ended May 31, 2022 (Unaudited)			Period Ended November 30, 2021⁽²⁾
Operations:
Net Investment Loss	$	(36,153	)	$	(16,660	)	$	(12,333	)	$	(1,628	)
Net Realized Loss on Investments and Foreign Currency Transactions ⁽³⁾		(7,431,636	)		(126,061	)		(2,693,865	)		(15,189	)
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(9,941,159	)		(522,051	)		1,015,027			27,171
Net Increase (Decrease) in Net Assets Resulting from Operations		(17,408,948	)		(664,772	)		(1,691,171	)		10,354
Distributions		(15,749	)		—			(2,117	)		—
Capital Share Transactions:
Issued		18,037,686			33,092,140			12,731,297			8,984,259
Redeemed		(951,409	)		—			(11,577,680	)		—
Increase in Net Assets from Capital Share Transactions		17,086,277			33,092,140			1,153,617			8,984,259
Total Increase (Decrease) in Net Assets		(338,420	)		32,427,368			(539,671	)		8,994,613
Net Assets:
Beginning of Period		32,427,368			—			8,994,613			—
End of Period	$	32,088,948		$	32,427,368		$	8,454,942		$	8,994,613
Share Transactions:
Issued		960,000			1,330,000			670,000			350,000
Redeemed		(50,000	)		—			(600,000	)		—
Net Increase in Shares Outstanding from Share Transactions		910,000			1,330,000			70,000			350,000

(1)	The Fund commenced operations on July 12, 2021.
(2)	The Fund commenced operations on September 8, 2021.
(3)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

146

	Statements of Changes in Net Assets

	Global X Wind Energy ETF						Global X Green Building ETF
	Period Ended May 31, 2022 (Unaudited)			Period Ended November 30, 2021⁽¹⁾			Period Ended May 31, 2022⁽²⁾ (Unaudited)
Operations:
Net Investment Income (Loss)	$	13,353		$	(689	)	$	14,727
Net Realized Loss on Investments and Foreign Currency Transactions ⁽³⁾		(300,796	)		(53,558	)		(148	)
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Translations		(448,493	)		(199,234	)		(166,512	)
Net Decrease in Net Assets Resulting from Operations		(735,936	)		(253,481	)		(151,933	)
Distributions		(2,373	)		—			—
Capital Share Transactions:
Issued		—			4,767,391			2,537,579
Increase in Net Assets from Capital Share Transactions		—			4,767,391			2,537,579
Total Increase (Decrease) in Net Assets		(738,309	)		4,513,910			2,385,646
Net Assets:
Beginning of Period		4,513,910			—			—
End of Period	$	3,775,601		$	4,513,910		$	2,385,646
Share Transactions:
Issued		—			190,000			100,000
Net Increase in Shares Outstanding from Share Transactions		—			190,000			100,000

(1)	The Fund commenced operations on September 8, 2021.
(2)	The Fund commenced operations on April 11, 2022.
(3)	Includes realized gains (losses) as a result of in-kind redemptions. (See Note 4 in Notes to Financial Statements.)

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

147

	Financial Highlights

Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

	Net Asset Value, Beginning of Period ($)		Net Investment Income (Loss) ($)*			Net Realized and Unrealized Gain (Loss) on Investments ($)			Total from Operations ($)			Distribution from Net Investment Income ($)			Distribution from Capital Gains ($)
Global X Robotics & Artificial Intelligence ETF
2022 (Unaudited)		36.24		0.04			(12.41	)		(12.37	)		—			—
2021		31.78		0.02			4.50			4.52			(0.02	)		—
2020		21.43		0.05			10.39			10.44			(0.08	)		—
2019		19.70		0.19			1.93			2.12			(0.39	)		—
2018		23.96		0.19			(4.45	)		(4.26	)		—	***		—	***
2017		14.87		0.01			9.09			9.10			(0.01	)		—
Global X Internet of Things ETF
2022 (Unaudited)		37.68		0.07			(8.16	)		(8.09	)		(0.07	)		(0.05	)
2021		29.95		0.13			7.72			7.85			(0.12	)		—
2020		22.89		0.17			7.08			7.25			(0.19	)		—
2019		18.04		0.20			4.93			5.13			(0.28	)		—
2018		20.12		0.17			(2.03	)		(1.86	)		(0.11	)		(0.11	)
2017		15.52		0.16			4.49			4.65			(0.05	)		—
Global X FinTech ETF
2022 (Unaudited)		45.52		0.05			(18.09	)		(18.04	)		(2.16	)		—
2021		42.75		(0.13	)		2.90			2.77			—			—
2020		30.49		(0.11	)		12.37			12.26			—			—
2019		24.55		(0.08	)		6.06			5.98			—			—
2018		21.79		(0.08	)		2.86			2.78			—			(0.02	)
2017		14.91		(0.03	)		6.91			6.88			—			—

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

148

	Financial Highlights

Return of Capital ($)			Total from Distributions ($)			Net Asset Value, End of Period ($)		Total Return (%)**			Net Assets End of Period ($)(000)		Ratio of Expenses to Average Net Assets (%)			Ratio of Net Investment Income (Loss) to Average Net Assets (%)			Portfolio Turnover (%)††

	—			—			23.87		(34.13	)		1,584,112		0.68	†		0.26	†		7.21
	(0.04	)		(0.06	)		36.24		14.23			2,703,488		0.68			0.06			22.66
	(0.01	)		(0.09	)		31.78		48.90			2,158,175		0.68			0.21			22.27
	—			(0.39	)		21.43		11.16			1,479,984		0.68			0.98			10.97
	—			—	***		19.70		(17.77	)		1,726,274		0.70			0.83			28.50
	—			(0.01	)		23.96		61.22			1,412,589		0.69			0.05			15.29

	—			(0.12	)		29.47		(21.56	)		340,632		0.68	†		0.44	†		0.94
	—			(0.12	)		37.68		26.24			517,291		0.68			0.37			9.25
	—			(0.19	)		29.95		31.88			296,508		0.68			0.71			14.28
	—			(0.28	)		22.89		29.01			131,627		0.68			1.04			11.71
	—			(0.22	)		18.04		(9.33	)		82,983		0.69			0.88			16.69
	—			(0.05	)		20.12		30.04			85,521		0.70			0.85			24.90

	—			(2.16	)		25.32		(41.40	)		695,102		0.68	†		0.32	†		18.26
	—			—			45.52		6.48			1,289,006		0.68			(0.28	)		29.60
	—			—			42.75		40.21			874,175		0.68			(0.33	)		15.75
	(0.04	)		(0.04	)		30.49		24.42			413,152		0.68			(0.29	)		16.40
	—			(0.02	)		24.55		12.79			327,734		0.68			(0.29	)		20.58
	—			—			21.79		46.14			50,106		0.68			(0.13	)		11.65

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
***	Amount is less than $0.005.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.

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

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

149

	Financial Highlights

Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

	Net Asset Value, Beginning of Period ($)		Net Investment Income (Loss) ($)*			Net Realized and Unrealized Gain (Loss) on Investments ($)			Total from Operations ($)			Distribution from Net Investment Income ($)			Distribution from Capital Gains ($)
Global X Video Games & Esports ETF
2022 (Unaudited)		29.52		0.07			(6.15	)		(6.08	)		(0.13	)		(0.07	)
2021		28.57		0.04			1.14			1.18			(0.23	)		—	***
2020		15.73		0.02			12.86			12.88			(0.04	)		—
2019⁽¹⁾		14.99		—			0.74			0.74			—			—
Global X Autonomous & Electric Vehicles ETF
2022 (Unaudited)		30.41		0.09			(5.51	)		(5.42	)		(0.03	)		(0.02	)
2021		21.75		0.09			8.65			8.74			(0.08	)		—
2020		14.15		0.11			7.61			7.72			(0.12	)		—
2019		13.26		0.22			1.11			1.33			(0.44	)		—
2018⁽²⁾		15.00		0.11			(1.85	)		(1.74	)		—			—
Global X Cloud Computing ETF
2022 (Unaudited)		28.38		(0.05	)		(10.02	)		(10.07	)		—			(0.47	)
2021		25.84		(0.15	)		2.69			2.54			—			—
2020		15.99		(0.11	)		9.97			9.86			—			(0.01	)
2019⁽³⁾		15.06		(0.04	)		0.97			0.93			—			—
Global X Data Center REITs & Digital Infrastructure ETF
2022 (Unaudited)		17.83		0.10			(2.04	)		(1.94	)		(0.09	)		(0.08	)
2021		14.94		0.16			2.84			3.00			(0.11	)		—
2020⁽⁴⁾		14.97		—			(0.03	)		(0.03	)		—			—

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

150

	Financial Highlights

Return of Capital ($)		Total from Distributions ($)			Net Asset Value, End of Period ($)		Total Return (%)**			Net Assets End of Period ($)(000)		Ratio of Expenses to Average Net Assets (%)			Ratio of Net Investment Income (Loss) to Average Net Assets (%)			Portfolio Turnover (%)††

	—		(0.20	)		23.24		(20.73	)		263,724		0.50	†		0.44	†		32.43
	—		(0.23	)		29.52		4.09			485,235		0.50			0.09			23.45
	—		(0.04	)		28.57		82.04			481,341		0.50			0.04			12.02
	—		—			15.73		4.94			1,573		0.50	†		(0.45	)†		0.27

	—		(0.05	)		24.94		(17.87	)		1,057,155		0.68	†		0.69	†		18.94
	—		(0.08	)		30.41		40.22			1,323,546		0.68			0.33			18.17
	—		(0.12	)		21.75		54.98			135,923		0.68			0.67			13.76
	—		(0.44	)		14.15		10.61			14,855		0.68			1.67			31.26
	—		—			13.26		(11.60	)		15,248		0.68	†		1.21	†		23.57

	—		(0.47	)		17.84		(36.04	)		710,191		0.68	†		(0.48	)†		15.53
	—		—			28.38		9.83			1,317,544		0.68			(0.53	)		23.77
	—		(0.01	)		25.84		61.68			1,405,489		0.68			(0.53	)		23.03
	—		—			15.99		6.18			472,386		0.68	†		(0.44	)†		12.52

	—		(0.17	)		15.72		(11.03	)		82,686		0.50	†		1.23	†		21.12
	—		(0.11	)		17.83		20.17			78,098		0.50			0.93			15.80
	—		—			14.94		(0.20	)		3,736		0.50	†		0.26	†		—

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
***	Amount is less than $0.005.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
(1)	The Fund commenced operations on October 25, 2019.
(2)	The Fund commenced operations on April 13, 2018.
(3)	The Fund commenced operations on April 12, 2019.
(4)	The Fund commenced operations on October 27, 2020.

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

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

151

	Financial Highlights

Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

	Net Asset Value, Beginning of Period ($)		Net Investment Income ($)*		Net Realized and Unrealized Gain (Loss) on Investments ($)			Total from Operations ($)			Distribution from Net Investment Income ($)			Distribution from Capital Gains ($)
Global X Cybersecurity ETF
2022 (Unaudited)		31.75		—		(5.18	)		(5.18	)		(0.09	)		(0.12	)
2021		22.75		0.12		8.90			9.02			(0.01	)		(0.01	)
2020		17.14		0.09		5.67			5.76			(0.13	)		(0.02	)
2019⁽¹⁾		15.27		—		1.87			1.87			—			—
Global X Artificial Intelligence & Technology ETF
2022 (Unaudited)		31.58		0.06		(8.87	)		(8.81	)		(0.01	)		—
2021		25.84		0.05		5.78			5.83			(0.09	)		—
2020		17.35		0.17		8.44			8.61			(0.12	)		—
2019		14.24		0.10		3.13			3.23			(0.12	)		—
2018⁽²⁾		15.00		0.05		(0.81	)		(0.76	)		—			—
Global X Metaverse ETF
2022 (Unaudited)⁽³⁾		24.10		0.41		(0.97	)		(0.56	)		—			—
Global X Millennial Consumer ETF
2022 (Unaudited)		42.68		0.03		(13.14	)		(13.11	)		(0.07	)		—
2021		35.23		0.08		7.43			7.51			(0.06	)		—
2020		25.55		0.05		9.74			9.79			(0.10	)		(0.01	)
2019		21.57		0.10		3.99			4.09			(0.10	)		(0.01	)
2018		19.11		0.09		2.54			2.63			(0.05	)		(0.12	)
2017		15.58		0.07		3.51			3.58			(0.05	)		—

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

152

	Financial Highlights

Return of Capital ($)		Total from Distributions ($)			Net Asset Value, End of Period ($)		Total Return (%)**			Net Assets End of Period ($)(000)		Ratio of Expenses to Average Net Assets (%)			Ratio of Net Investment Income (Loss) to Average Net Assets (%)			Portfolio Turnover (%)††

	—		(0.21	)		26.36		(16.43	)		1,148,036		0.50	†		(0.02	)†		16.61
	—		(0.02	)		31.75		39.68			1,132,090	0.50^{^}				0.41			26.34
	—		(0.15	)		22.75		33.78			46,634	0.50^{^}				0.43			21.29
	—		—			17.14		12.25			1,714	0.50^{^}†				(0.16	)†		3.57

	—		(0.01	)		22.76		(27.90	)		151,794		0.68	†		0.47	†		12.44
	—		(0.09	)		31.58		22.60			186,334		0.68			0.17			26.37
	—		(0.12	)		25.84		49.84			120,169		0.68			0.79			19.45
	—		(0.12	)		17.35		22.87			44,245		0.68			0.61			16.34
	—		—			14.24		(5.07	)		42,001		0.68	†		0.54	†		7.93

	—		—			23.54		(2.32	)		2,354		0.50	†		18.51	†		19.68

	—		(0.07	)		29.50		(30.78	)		121,235		0.50	†		0.14	†		10.21
	—		(0.06	)		42.68		21.33			227,075		0.50			0.18			11.59
	—		(0.11	)		35.23		38.47			114,511	0.50^^				0.19			7.11
	—		(0.11	)		25.55		19.07			75,383	0.50^^				0.42			10.44
	—		(0.17	)		21.57		13.87			31,279	0.50^^				0.40			10.94
	—		(0.05	)		19.11		23.05			11,467	0.54^^				0.40			20.97

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
^	Effective April 1, 2021, the Fund’s management fees were permanently lowered to 0.50%. Prior to April 1, 2021, the ratio of Expenses to Average Net Assets included the effect of a waiver. If these offsets were excluded, the ratio would have been 0.52% for the year ended November 30, 2021 and 0.60% for the years ended November 30, 2020 and November 30, 2019.
^^	Effective April 1, 2020, the Fund’s fees were permanently lowered to 0.50%. Prior to April 1, 2020, the ratio of Expenses to Average Net Assets included the effect of a waiver. If these offsets were excluded, the ratio would have been 0.56%, 0.68%, 0.68% and 0.68%, for the years ended November 30, 2020, 2019, 2018 and 2017, respectively.
(1)	The Fund commenced operations on October 25, 2019.
(2)	The Fund commenced operations on May 11, 2018.
(3)	The Fund commenced operations on April 26, 2022.

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

153

	Financial Highlights

Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

	Net Asset Value, Beginning of Period ($)		Net Investment Income (Loss) ($)*			Net Realized and Unrealized Gain (Loss) on Investments ($)			Total from Operations ($)			Distribution from Net Investment Income ($)			Distribution from Capital Gains ($)
Global X Education ETF
2022 (Unaudited)		9.54		0.02			(2.96	)		(2.94	)		—	***		—
2021		17.14		0.01			(7.60	)		(7.59	)		—	***		—
2020⁽¹⁾		15.20		(0.01	)		1.95			1.94			—			—
Global X Cannabis ETF
2022 (Unaudited)		7.22		0.07			(3.73	)		(3.66	)		(0.15	)		—
2021		12.05		0.22			(4.81	)		(4.59	)		(0.24	)		—
2020		15.31		0.81			(3.46	)		(2.65	)		(0.61	)		—
2019⁽²⁾		24.41		0.22			(9.32	)		(9.10	)		—			—
Global X Genomics & Biotechnology ETF
2022 (Unaudited)		20.61		(0.02	)		(8.60	)		(8.62	)		(0.01	)		—
2021		21.01		(0.08	)		(0.29	)		(0.37	)		—			(0.03	)
2020		15.61		(0.07	)		5.47			5.40			—			—
2019⁽³⁾		15.28		(0.05	)		0.38			0.33			—			—
Global X China Biotech Innovation ETF
2022 (Unaudited)		15.96		—			(6.16	)		(6.16	)		—			—
2021		14.88		(0.05	)		1.13			1.08			—			—
2020⁽⁴⁾		15.09		(0.02	)		(0.19	)		(0.21	)		—			—

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

154

	Financial Highlights

Return of Capital ($)			Total from Distributions ($)			Net Asset Value, End of Period ($)		Total Return (%)**			Net Assets End of Period ($)(000)		Ratio of Expenses to Average Net Assets (%)			Ratio of Net Investment Income (Loss) to Average Net Assets (%)			Portfolio Turnover (%)††

	—			—			6.60		(30.80	)		4,025		0.50	†		0.61	†		15.61
	(0.01	)		(0.01	)		9.54		(44.30	)		6,488		0.50			0.04			35.89
	—			—			17.14		12.76			6,856		0.51	†		(0.23	)†		10.62

	—			(0.15	)		3.41		(51.54	)		60,703		0.50	†		2.82	†		19.73
	—			(0.24	)		7.22		(38.79	)		105,549		0.50			1.76			113.26
	—			(0.61	)		12.05		(17.03	)		36,160		0.51			8.11			59.79
	—			—			15.31		(37.28	)		4,594		0.50	†		6.19	†		11.40

	—			(0.01	)		11.98		(41.85	)		171,225		0.50	†		(0.31	)†		23.55
	—			(0.03	)		20.61		(1.77	)		255,572		0.50			(0.35	)		29.25
	—			—			21.01		34.59			81,951		0.56	‡		(0.40	)		29.76
	—			—			15.61		2.16			18,734		0.68	†		(0.59	)†		23.12

	—			—			9.80		(38.60	)		2,647		0.65	†		0.04	†		23.57
	—			—			15.96		7.26			4,309		0.65			(0.31	)		50.08
	—			—			14.88		(1.39	)		2,232		0.67	†		(0.65	)†		10.48

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
***	Amount is less than $0.005.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
‡	Effective June 15, 2020, the Fund’s fees were permanently lowered to 0.50%.
(1)	The Fund commenced operations on July 10, 2020.
(2)	The Fund commenced operations on September 17, 2019.
(3)	The Fund commenced operations on April 5, 2019.
(4)	The Fund commenced operations on September 22, 2020.

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

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

155

	Financial Highlights

Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

	Net Asset Value, Beginning of Period ($)		Net Investment Income (Loss) ($)*			Net Realized and Unrealized Gain (Loss) on Investments ($)			Total from Operations ($)			Distribution from Net Investment Income ($)			Distribution from Capital Gains ($)
Global X Telemedicine & Digital Health ETF
2022 (Unaudited)		16.32		(0.02	)		(4.37	)		(4.39	)		—			—
2021		18.41		(0.10	)		(1.98	)		(2.08	)		(0.01	)		—
2020⁽¹⁾		15.23		0.01			3.17			3.18			—			—
Global X Aging Population ETF
2022 (Unaudited)		27.41		0.13			(1.25	)		(1.12	)		(0.17	)		—
2021		26.82		0.13			0.55			0.68			(0.09	)		—
2020		23.55		0.10			3.35			3.45			(0.13	)		(0.05	)
2019		20.67		0.13			2.99			3.12			(0.18	)		(0.06	)
2018		19.60		0.13			1.14			1.27			(0.09	)		(0.11	)
2017		15.17		0.08			4.51			4.59			(0.09	)		(0.07	)
Global X Health & Wellness ETF
2022 (Unaudited)		28.04		0.07			(6.44	)		(6.37	)		(0.14	)		—
2021		24.11		0.20			3.87			4.07			(0.14	)		—
2020		21.17		0.10			2.92			3.02			(0.08	)		—
2019		18.59		0.14			2.60			2.74			(0.16	)		—
2018		16.75		0.14			2.18			2.32			(0.15	)		(0.33	)
2017		14.72		0.17			1.94			2.11			(0.08	)		—

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

156

	Financial Highlights

Return of Capital ($)		Total from Distributions ($)			Net Asset Value, End of Period ($)		Total Return (%)**			Net Assets End of Period ($)(000)		Ratio of Expenses to Average Net Assets (%)			Ratio of Net Investment Income (Loss) to Average Net Assets (%)			Portfolio Turnover (%)††

	—		—			11.93		(26.90	)		170,833		0.68	†		(0.34	)†		18.03
	—		(0.01	)		16.32		(11.32	)		475,576		0.68			(0.52	)		42.39
	—		—			18.41		20.88			490,675		0.68	†		0.18	†		9.67

	—		(0.17	)		26.12		(4.13	)		51,457		0.50	†		0.94	†		11.07
	—		(0.09	)		27.41		2.51			59,756		0.50			0.43			19.57
	—		(0.18	)		26.82		14.79			42,907	0.50^				0.43			9.10
	—		(0.24	)		23.55		15.38			23,548	0.50^				0.62			14.18
	—		(0.20	)		20.67		6.55			15,503	0.50^				0.63			14.39
	—		(0.16	)		19.60		30.58			7,841	0.52^				0.44			10.20

	—		(0.14	)		21.53		(22.83	)		23,683		0.50	†		0.59	†		9.12
	—		(0.14	)		28.04		16.90			40,091		0.50			0.71			14.90
	—		(0.08	)		24.11		14.34			20,496	0.50^^				0.48			20.54
	—		(0.16	)		21.17		14.89			20,115	0.50^^				0.74			18.05
	—		(0.48	)		18.59		14.16			10,222	0.50^^				0.77			20.93
	—		(0.08	)		16.75		14.38			2,512	0.54^^				1.08			16.73

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
^	Effective April 1, 2020, the Fund’s fees were permanently lowered to 0.50%. Prior to April 1, 2020, the ratio of Expenses to Average Net Assets included the effect of a waiver. If these offsets were excluded, the ratio would have been 0.55%, 0.68%, 0.68% and 0.68%, for the years ended November 30, 2020, 2019, 2018 and 2017, respectively.
^^	Effective April 1, 2020, the Fund’s fees were permanently lowered to 0.50%. Prior to April 1, 2020, the ratio of Expenses to Average Net Assets included the effect of a waiver. If these offsets were excluded, the ratio would have been 0.57%, 0.68%, 0.68% and 0.68%, for the years ended November 30, 2020, 2019, 2018 and 2017, respectively.
(1)	The Fund commenced operations on July 29, 2020.

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

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

157

	Financial Highlights

Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

	Net Asset Value, Beginning of Period ($)		Net Investment Income (Loss) ($)*			Net Realized and Unrealized Gain (Loss) on Investments ($)			Total from Operations ($)			Distribution from Net Investment Income ($)			Distribution from Capital Gains ($)
Global X CleanTech ETF
2022 (Unaudited)		20.43		(0.01	)		(5.56	)		(5.57	)		(0.06	)		—
2021		19.02		0.02			1.40			1.42			(0.01	)		—
2020⁽¹⁾		15.07		0.02			3.93			3.95			—			—
Global X U.S. Infrastructure Development ETF
2022 (Unaudited)		27.19		0.10			(1.38	)		(1.28	)		(0.09	)		(0.01	)
2021		20.24		0.17			6.87			7.04			(0.09	)		—	***
2020		17.43		0.16			2.74			2.90			(0.09	)		—
2019		15.57		0.13			1.90			2.03			(0.17	)		—
2018		16.16		0.14			(0.68	)		(0.54	)		(0.05	)		—
2017⁽²⁾		14.98		0.10			1.08			1.18			—			—
Global X Thematic Growth ETF
2022 (Unaudited)		47.65		0.51			(16.08	)		(15.57	)		(0.59	)		—
2021		42.45		0.39			5.10			5.49			(0.29	)		—
2020		26.50		0.10			15.96			16.06			(0.11	)		—
2019⁽³⁾		25.23		—			1.27			1.27			—			—
Global X AgTech & Food Innovation ETF
2022 (Unaudited)		19.76		0.08			(1.69	)		(1.61	)		(0.04	)		(0.10	)
2021⁽⁴⁾		25.34		0.05			(5.63	)		(5.58	)		—			—

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

158

	Financial Highlights

Return of Capital ($)		Total from Distributions ($)			Net Asset Value, End of Period ($)		Total Return (%)**			Net Assets End of Period ($)(000)		Ratio of Expenses to Average Net Assets (%)			Ratio of Net Investment Income (Loss) to Average Net Assets (%)			Portfolio Turnover (%)††

	—		(0.06	)		14.80		(27.32	)		115,116		0.50	†		(0.18	)†		10.02
	—		(0.01	)		20.43		7.48			175,458		0.50			0.09			35.53
	—		—			19.02		26.21			28,523		0.50	†		1.18	†		—

	—		(0.10	)		25.81		(4.75	)		4,373,902		0.47	†		0.72	†		8.41
	—		(0.09	)		27.19		34.90			5,186,497		0.47			0.64			10.07
	—		(0.09	)		20.24		16.77			653,635		0.47			0.96			9.08
	—		(0.17	)		17.43		13.28			183,065	0.47^^				0.81			9.18
	—		(0.05	)		15.57		(3.36	)		140,914	0.47^^				0.77			6.76
	—		—			16.16		7.88			20,203	0.47^^†				0.91	†		—

	—		(0.59	)		31.49		(33.05	)		79,977		(0.15	)†‡		2.73	†		17.32
	—		(0.29	)		47.65		12.95			110,081		(0.13	)‡		0.77			32.16
	—		(0.11	)		42.45		60.81			36,081		(0.12	)‡		0.29			103.23
	—		—			26.50		5.03			2,650		(0.15	)†‡		0.15	†		—

	—		(0.14	)		18.01		(8.23	)		5,945		0.50	†		0.87	†		27.58
	—		—			19.76		(22.02	)		5,533		0.51	†		0.58	†		32.72

*	Per share data calculated using average shares method.
**	Total Return is for the period indicated and has not been annualized. The return shown does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
***	Amount is less than $0.005.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
^^	Effective April 1, 2019, the Fund’s fees were permanently lowered to 0.47%. Prior to April 1, 2019, the ratio of Expenses to Average Net Assets included the effect of a waiver. If these offsets were excluded, the ratio would have been 0.50%, 0.58%, and 0.58%, for the years ended November 30, 2019, 2018 and 2017, respectively.
‡	The ratio of Expenses to Average Net Assets includes the effect of a reimbursement of acquired fund fees (See Note 3 in Notes to Financial Statements.) If these offsets and acquired fund fees were excluded, the ratio would have been 0.50%.
(1)	The Fund commenced operations on October 27, 2020.
(2)	The Fund commenced operations on March 6, 2017.
(3)	The Fund commenced operations on October 25, 2019.
(4)	The Fund commenced operations on July 12, 2021.

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

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

159

	Financial Highlights

Selected Per Share Data & Ratios

For a Share Outstanding Throughout the Period

	Net Asset Value, Beginning of Period ($)		Net Investment Income (Loss) ($)*			Net Realized and Unrealized Gain (Loss) on Investments ($)			Total from Operations ($)			Distribution from Net Investment Income ($)			Distribution from Capital Gains ($)
Global X Blockchain ETF
2022 (Unaudited)		32.33		0.08			(23.02	)		(22.94	)		(0.93	)		—
2021⁽¹⁾		25.01		0.06			7.26			7.32			—			—
Global X Clean Water ETF
2022 (Unaudited)		16.73		0.09			(2.65	)		(2.56	)		(0.17	)		—	***
2021⁽²⁾		15.04		0.26			1.47			1.73			(0.04	)		—
Global X Hydrogen ETF
2022 (Unaudited)		24.38		(0.02	)		(10.02	)		(10.04	)		—			(0.01	)
2021⁽¹⁾		25.04		(0.03	)		(0.63	)		(0.66	)		—			—
Global X Solar ETF
2022 (Unaudited)		25.70		(0.03	)		(5.54	)		(5.57	)		—			—	***
2021⁽³⁾		24.19		(0.01	)		1.52			1.51			—			—
Global X Wind Energy ETF
2022 (Unaudited)		23.76		0.07			(3.95	)		(3.88	)		(0.01	)		—
2021⁽³⁾		24.82		(0.01	)		(1.05	)		(1.06	)		—			—
Global X Green Building ETF
2022(Unaudited)⁽⁴⁾		25.37		0.15			(1.66	)		(1.51	)		—			—

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

160

	Financial Highlights

Return of Capital ($)		Total from Distributions ($)			Net Asset Value, End of Period ($)		Total Return (%)**			Net Assets End of Period ($)(000)		Ratio of Expenses to Average Net Assets (%)			Ratio of Net Investment Income (Loss) to Average Net Assets (%)			Portfolio Turnover (%)††

	—		(0.93	)		8.46		(72.74	)		68,004		0.50	†		0.97	†		11.61
	—		—			32.33		29.27			127,720		0.50	†		0.52	†		19.49

	—		(0.17	)		14.00		(15.51	)		6,300		0.50	†		1.12	†		12.55
	—		(0.04	)		16.73		11.52			8,699		0.50	†		2.44	†		4.84

	—		(0.01	)		14.33		(41.19	)		32,089		0.50	†		(0.24	)†		20.20
	—		—			24.38		(2.64	)		32,427		0.51	†		(0.33	)†		40.38

	—		—			20.13		(21.66	)		8,455		0.50	†		(0.31	)†		82.09
	—		—			25.70		6.24			8,995		0.50	†		(0.22	)†		9.85

	—		(0.01	)		19.87		(16.33	)		3,776		0.50	†		0.67	†		18.46
	—		—			23.76		(4.27	)		4,514		0.50	†		(0.10	)†		23.01

	—		—			23.86		(5.95	)		2,386		0.45	†		4.56	†		3.13

*	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.
***	Amount was less than $0.005.
†	Annualized.
††	Portfolio turnover rate is for the period indicated and periods of less than one year have not been annualized. Excludes effect of in-kind transfers.
(1)	The Fund commenced operations on July 12, 2021.
(2)	The Fund commenced operations on April 8, 2021.
(3)	The Fund commenced operations on September 8, 2021.
(4)	The Fund commenced operations on April 11, 2022.

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

161

	Notes to Financial Statements (Unaudited)
	May 31, 2022

1. ORGANIZATION

The Global X Funds (the “Trust”) is a Delaware statutory trust formed on March 6, 2008. The Trust is registered under the Investment Company Act of 1940, as amended, (the “1940 Act”) as an open-end management investment company. As of May 31, 2022, the Trust had one hundred and one portfolios, ninety-four of which were operational. The financial statements herein and the related notes pertain to the Global X Robotics & Artificial Intelligence ETF, Global X Internet of Things ETF, Global X FinTech ETF, Global X Video Games & Esports ETF, Global X Autonomous & Electric Vehicles ETF, Global X Cloud Computing ETF, Global X Data Center REITs & Digital Infrastructure ETF, Global X Cybersecurity ETF, Global X Artificial Intelligence & Technology ETF, Global X Metaverse ETF, Global X Millennial Consumer ETF, Global X Education ETF, Global X Cannabis ETF, Global X Genomics & Biotechnology ETF, Global X China Biotech Innovation ETF, Global X Telemedicine & Digital Health ETF, Global X Aging Population ETF, Global X Health & Wellness ETF, Global X CleanTech ETF, Global X U.S. Infrastructure Development ETF, Global X Thematic Growth ETF, Global X AgTech & Food Innovation ETF, Global X Blockchain ETF, Global X Clean Water ETF, Global X Hydrogen ETF, Global X Solar ETF, Global X Wind Energy ETF and Global X Green Building ETF (each a “Fund” and collectively, the “Funds”). Each Fund, other than the Global X Millennial Consumer ETF, Global X Aging Population ETF, Global X Health & Wellness ETF and Global X U.S. Infrastructure Development ETF, has elected non-diversified status under the 1940 Act.

Global X Metaverse ETF commenced operations on April 26, 2022 and Global X Green Building ETF commenced operations on April 11, 2022.

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of the significant accounting policies followed by the Funds:

USE OF ESTIMATES — The Funds are investment companies that apply the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board. The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could materially differ from those estimates.

RETURN OF CAPITAL ESTIMATES – Distributions received by the Funds from underlying master limited partnership (“MLP”) and real estate investment trust (“REIT”) investments generally are comprised of income and return of capital. The Funds record investment income and return of capital based on estimates made at the time such distributions are received. Such estimates are based on historical information available from the MLPs, REITs and other industry sources. These estimates may

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	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

subsequently be revised based on information received from the MLPs and REITs after their tax reporting periods are concluded.

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

For securities traded on NASDAQ, the NASDAQ official closing price will be used. If available, debt securities are priced based upon valuations provided by independent, third-party pricing agents. Such values generally reflect the last reported sales price if the security is actively traded. The third-party pricing agents may also value debt securities at an evaluated bid price by employing methodologies that utilize actual market transactions, broker-supplied valuations, or other methodologies designed to identify the market value for such securities. Debt obligations with remaining maturities of sixty days or less may be valued at their amortized cost, which approximates market value. The prices for foreign securities are reported in local currency and converted to U.S. dollars using currency exchange rates as of the reporting date. The exchange rates used by the Trust for valuation are captured as of the New York or London close each day. Prices for most securities held by the Funds are provided daily by recognized independent pricing agents. If a security price cannot be obtained from an independent, third-party pricing agent, the Funds seek to obtain a bid price from at least one independent broker.

Securities for which market prices are not “readily available” are valued in accordance with fair value procedures (the “Fair Value Procedures”) established by the Board of Trustees (the “Board”) of the Trust. The Funds’ Fair Value Procedures are implemented through a fair value committee of the Trust (the “Committee”) designated by the Board. Some of the more common reasons that may necessitate that a security be valued using the Fair Value Procedures include: the security’s trading has been halted or suspended; the security has been de-listed from its primary trading exchange; the security’s primary trading market is temporarily closed at a time when, under normal conditions it would be open; the security has not been traded for an extended period of time; the security’s primary pricing source is not able or willing to provide a price; or trading of the security is subject to local government-imposed restrictions. In addition, each Fund may fair value a security if an event that may materially affect the value of a Fund’s security that traded outside of the United States (a “Significant Event”) has occurred between the time of the security’s last close and the time that the Fund calculates its net asset value (“NAV”). A Significant Event may relate to a single issuer or to an entire market sector. Events that may be Significant Events include: government actions, natural disasters,

163

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

armed conflict, acts of terrorism and significant market fluctuations. If Global X Management Company LLC, the Funds’ investment adviser (the “Adviser”), becomes aware of a Significant Event that has occurred with respect to a security or group of securities after the closing of the exchange or market on which the security or securities principally trade, but before the time at which the Funds calculate their NAVs, it may request that a Committee meeting be called. When a security is valued in accordance with the Fair Value Procedures, the Committee will determine the value after taking into consideration all relevant information reasonably available to the Committee. As of May 31, 2022, there were no securities priced using the Fair Value Procedures.

In accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP, the Funds disclose the fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The objective of a fair value measurement is to determine the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Accordingly, the fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

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.

164

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

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.

For the period ended May 31, 2022, there have been no significant changes to the Funds’ fair valuation methodologies.

DUE TO/FROM BROKERS — Due to/from brokers includes cash and collateral balances with the Funds’ clearing brokers or counterparties at May 31, 2022. The Funds continuously monitor the credit standing of each broker or counterparty with whom they conduct business. In the event a broker or counterparty is unable to fulfill its obligations, the Funds would be subject to counterparty credit risk.

REPURCHASE AGREEMENTS – Securities pledged as collateral for repurchase agreements by BNP Paribas are held by Brown Brothers Harriman & Co. (“BBH”), the Funds’ custodian (“Custodian”), and are designated as being held on each Fund’s behalf by the Custodian under a book-entry system. Each Fund monitors the adequacy of the collateral on a daily basis and can require the seller to provide additional collateral in the event the market value of the securities pledged falls below the carrying value of the repurchase agreement, including accrued interest.

It is the Funds’ policy to only enter into repurchase agreements with banks and other financial institutions which are deemed by the Adviser to be creditworthy. The Funds bear the risk of loss in the event that the counterparty to a repurchase agreement defaults on its obligations, and the Funds are prevented from exercising their rights to dispose of the underlying securities received as collateral and the risk of a possible decline in the value of the underlying securities during the period. For financial statement purposes, the Funds record the securities lending collateral (included in repurchase agreements, at value or restricted cash) as an asset and the obligation to return securities lending collateral as a liability on the Statements of Assets and Liabilities. Repurchase agreements are entered into by the Funds under Master Repurchase Agreements (“MRA”) which permit the Funds, under certain circumstances, including an event of default (such as bankruptcy or insolvency), to offset payables and/or receivables under an MRA with collateral held and/or posted to the counterparty and create one single net payment due to or from the Funds.

165

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

As of May 31, 2022, the open repurchase agreements by counterparty which are subject to an MRA on a net payment basis are as follows:

	Repurchase Agreements*		Fair Value of Non-cash Collateral Received (1)		Cash Collateral Received		Net Amount (2)
Global X Robotics & Artificial Intelligence ETF
BNP Paribas	$	27,986,515	$	27,986,515	$	−	$	−
Global X Internet of Things ETF
BNP Paribas	$	2,155,488	$	2,155,488	$	−	$	−
Global X FinTech ETF
BNP Paribas	$	29,885,649	$	29,885,649	$	−	$	−
Global X Video Games & Esports ETF
BNP Paribas	$	7,601,889	$	7,601,889	$	−	$	−
Global X Autonomous & Electric Vehicles ETF
BNP Paribas	$	32,958,024	$	32,958,024	$	−	$	−
Global X Artificial Intelligence & Technology ETF
BNP Paribas	$	1,081,641	$	1,081,641	$	−	$	−
Global X Millennial Consumer ETF
BNP Paribas	$	120,982	$	120,982	$	−	$	−
Global X Cannabis ETF
BNP Paribas	$	9,338,332	$	9,338,332	$	−	$	−
Global X Genomics & Biotechnology ETF
BNP Paribas	$	3,480,701	$	3,480,701	$	−	$	−
Global X Telemedicine & Digital Health ETF
BNP Paribas	$	5,052,149	$	5,052,149	$	−	$	−
Global X U.S. Infrastructure Development ETF
BNP Paribas	$	1,522,016	$	1,522,016	$	−	$	−
Global X Thematic Growth ETF
BNP Paribas	$	3,102,821	$	3,102,821	$	−	$	−
Global X Blockchain ETF
BNP Paribas	$	9,947,946	$	9,947,946	$	−	$	−

*	Repurchase agreements with an overnight and continuous maturity.
(1)	Excess collateral received is not presented in the table above. Please refer to the Schedules of Investments for the market value of the collateral received for each Fund.
(2)	Net Amount represents the net amount receivable due from the counterparty in the event of default.

FEDERAL INCOME TAXES — It is each Fund’s intention to qualify, or continue to qualify, as a regulated investment company for Federal income tax purposes by complying with the appropriate provisions of Subchapter M of the Internal Revenue Code of 1986, as amended. Accordingly, no provisions for Federal income taxes have been made in the financial statements except as described below.

The Funds evaluate tax positions taken or expected to be taken in the course of preparing the Funds’ tax returns to determine whether it is “more-likely-than-not” (i.e., greater than 50%) that each tax position will be sustained upon examination by a taxing authority based on the technical merits of the position. Tax positions not deemed to meet the more-likely-than-not threshold are recorded as a tax benefit or expense in the current year. The Funds did not record any tax positions in the current period, however management’s

166

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

conclusions regarding tax positions may be subject to review and adjustment at a later date based on factors including, but not limited to, examination by tax authorities (i.e., the last three tax year ends, as applicable), and on-going analysis of and changes to tax laws, and regulations and interpretations thereof.

If a Fund has foreign tax filings that have not been made, the tax years that remain subject to examination may date back to the inception of the Fund.

As of and during the reporting period ended May 31, 2022, the Funds did not have a liability for any unrecognized tax benefits. The Funds recognize interest and penalties, if any, related to unrecognized tax benefits as in income tax expense on the Statements of Operations. During the reporting period, the Funds did not incur any interest or penalties. The Funds are also not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next 12 months.

SECURITY TRANSACTIONS AND INVESTMENT INCOME — Security transactions are accounted for on the trade date for financial reporting purposes. Costs used in determining realized gains and losses on the sale of investment securities are based on specific identification. Dividend income is recorded on the ex-dividend date. Interest income is recognized on the accrual basis from the settlement date.

DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS — The Funds distribute their net investment income on a pro rata basis. Any net 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 recorded as a reduction of the cost of investments or reclassified to capital gains. The actual amounts of income, return of capital, and capital gains are only determined by each REIT after its fiscal year end, and may differ from the estimated amounts.

CASH OVERDRAFT CHARGES – Per the terms of an agreement with BBH, if a Fund has a cash overdraft on a given day, it will be assessed an overdraft charge of LIBOR plus 2.00%. Cash overdraft charges are included in custodian fees on the Statements of Operations.

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

167

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

dates of such transactions. The Funds do not isolate that portion of realized or unrealized gains and losses resulting from changes in the foreign exchange rate from fluctuations arising from changes in the market prices of the securities. These gains and losses are included in net realized and unrealized gains and losses on investments on the Statements of Operations. Net realized and unrealized gains and losses on foreign currency transactions and translations represent net foreign exchange gains or losses from foreign currency spot contracts, disposition of foreign currencies, currency gains or losses realized between trade and settlement dates on securities transactions and the difference between the amount of the investment income and foreign withholding taxes recorded on the Funds’ books and the U.S. dollar equivalent amounts actually received or paid.

CREATION UNITS — The Funds issue and redeem their shares (“Shares”) on a continuous basis at NAV and only in large blocks of 10,000 Shares, referred to as “Creation Units”. Purchasers of Creation Units (“Authorized Participants”) at NAV must pay a standard creation transaction fee per transaction. The fee is a single charge and will be the same regardless of the number of Creation Units purchased by an Authorized Participant on the same day. An Authorized Participant who holds Creation Units and wishes to redeem at NAV would also pay a standard redemption fee per transaction to BBH, on the date of such redemption, regardless of the number of Creation Units redeemed that day.

168

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

If a Creation Unit is purchased or redeemed for cash, an additional variable fee may be charged. The following table discloses Creation Unit breakdown:

	Creation Unit Shares		Creation Fee		Value at May 31, 2022		Redemption Fee
Global X Robotics & Artificial Intelligence ETF		10,000	$	600	$	238,700	$	600
Global X Internet of Things ETF		10,000		600		294,700		600
Global X FinTech ETF		10,000		400		253,200		400
Global X Video Games & Esports ETF		10,000		600		232,400		600
Global X Autonomous & Electric Vehicles ETF		10,000		700		249,400		700
Global X Cloud Computing ETF		10,000		250		178,400		250
Global X Data Center REITs & Digital Infrastructure ETF		10,000		300		157,200		300
Global X Cybersecurity ETF		10,000		250		263,600		250
Global X Artificial Intelligence & Technology ETF		10,000		600		227,600		600
Global X Metaverse ETF		10,000		400		235,400		400
Global X Millennial Consumer ETF		10,000		300		295,000		300
Global X Education ETF		10,000		500		66,000		500
Global X Cannabis ETF		10,000		250		34,100		250
Global X Genomics & Biotechnology ETF		10,000		250		119,800		250
Global X China Biotech Innovation ETF		10,000		600		98,000		600
Global X Telemedicine & Digital Health ETF		10,000		250		119,300		250
Global X Aging Population ETF		10,000		800		261,200		800
Global X Health & Wellness ETF		10,000		800		215,300		800
Global X CleanTech ETF		10,000		600		148,000		600
Global X U.S. Infrastructure Development ETF		10,000		400		258,100		400
Global X Thematic Growth ETF		10,000		250		314,900		250
Global X AgTech & Food Innovation ETF		10,000		300		180,100		300
Global X Blockchain ETF		10,000		250		84,600		250
Global X Clean Water ETF		10,000		500		140,000		500
Global X Hydrogen ETF		10,000		300		143,300		300
Global X Solar ETF		10,000		900		201,300		900
Global X Wind Energy ETF		10,000		600		198,700		600
Global X Green Building ETF		10,000		1,000		238,600		1,000

3. RELATED PARTY TRANSACTIONS AND SERVICE PROVIDER TRANSACTIONS

On July 2, 2018, the Adviser consummated a transaction pursuant to which it became an indirect, wholly-owned subsidiary of Mirae Asset Global Investments Co., Ltd. (“Mirae”). In this manner, the Adviser is ultimately controlled by Mirae, which is a leading financial services company in Korea and is the headquarters for the Mirae Asset Global Investments Group.

169

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

3. RELATED PARTY TRANSACTIONS AND SERVICE PROVIDER TRANSACTIONS (continued)

The Adviser serves as the investment adviser and the administrator for the Funds. Subject to the supervision of the Board, the Adviser is responsible for managing the investment activities of the Funds and the Funds’ business affairs and other administrative matters and provides, or causes to be furnished, all supervisory, administrative and other services reasonably necessary for the operation of the Funds, including certain distribution services (provided pursuant to a separate distribution services agreement), certain shareholder and distribution-related services (provided pursuant to a separate Rule 12b-1 Plan and related agreements) and investment advisory services (provided pursuant to a separate Investment Advisory Agreement), under what is essentially an “all-in” fee structure. For the Adviser’s services to the respective Funds, under a supervision and administration agreement (the “Supervision and Administration Agreement”), each Fund pays a monthly fee to the Adviser at the annual rate below (stated as a percentage of the average daily net assets of the respective Fund). In addition, the Funds bear other expenses, directly and indirectly, that are not covered by the Supervision and Administration Agreement, which may vary and affect the total expense ratios of the Funds, such as taxes, brokerage fees, commissions, custodian fees, acquired fund fees and expenses, (except for Global X Thematic Growth ETF), and other transaction expenses, interest expenses, and extraordinary expenses (such as litigation and indemnification expenses).

The Supervision and Administration Agreement for the Global X Thematic Growth ETF provides that the Adviser also bears the costs for acquired fund fees and expenses generated by investments by the Fund in affiliated investment companies. For the period ended May 31, 2022, the Adviser paid acquired fund fees and expenses of $303,817 and made such reimbursement payments to the Global X Thematic Growth ETF on a monthly basis.

170

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

3. RELATED PARTY TRANSACTIONS AND SERVICE PROVIDER TRANSACTIONS (continued)

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

	Supervision and Administration Fee
Global X Robotics & Artificial Intelligence ETF		0.68	%
Global X Internet of Things ETF		0.68	%
Global X FinTech ETF		0.68	%
Global X Video Games & Esports ETF		0.50	%
Global X Autonomous & Electric Vehicles ETF		0.68	%
Global X Cloud Computing ETF		0.68	%
Global X Data Center REITs & Digital Infrastructure ETF		0.50	%
Global X Cybersecurity ETF^***		0.50	%
Global X Artificial Intelligence & Technology ETF		0.68	%
Global X Metaverse ETF		0.50	%
Global X Millennial Consumer ETF^*		0.50	%
Global X Education ETF		0.50	%
Global X Cannabis ETF		0.50	%
Global X Genomics & Biotechnology ETF		0.50	%
Global X China Biotech Innovation ETF		0.65	%
Global X Telemedicine & Digital Health ETF		0.68	%
Global X Aging Population ETF^*		0.50	%
Global X Health & Wellness ETF^*		0.50	%
Global X CleanTech ETF		0.50	%
Global X U.S. Infrastructure Development ETF^**		0.47	%
Global X Thematic Growth ETF		0.50	%
Global X AgTech & Food Innovation ETF		0.50	%
Global X Blockchain ETF		0.50	%
Global X Clean Water ETF		0.50	%
Global X Hydrogen ETF		0.50	%
Global X Solar ETF		0.50	%
Global X Wind Energy ETF		0.50	%
Global X Green Building ETF		0.45	%

*Pursuant to expense limitation agreements, prior to April 1, 2020, the Adviser contractually agreed to waive or reimburse fees and/or limit annual fund expenses to the extent necessary to assure that the operating expenses of the Global X Millennial Consumer ETF, the Global X Aging Population ETF and the Global X Health & Wellness ETF (the “Funds”) (exclusive of taxes, brokerage fees, commissions, and other transaction expenses, interest, and extraordinary expenses (such as litigation and indemnification expenses)) would not exceed 0.50% of the Funds’ average daily net assets per

171

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

3. RELATED PARTY TRANSACTIONS AND SERVICE PROVIDER TRANSACTIONS (continued)

year until April 1, 2020. Each Fund (at a later date) may reimburse the Adviser for the fees and expenses it waived or reimbursed and/or limited pursuant to the expense limitation agreement during any of the three fiscal years prior to April 1, 2020, provided that, among other things, any reimbursement made to the Adviser does not cause Total Annual Fund Operating Expenses to exceed the maximum permitted rate during the period in which it is paid and the Board has approved such reimbursement to the Adviser. Although the Board voted to permanently reduce each Fund’s management fees to 0.50% and end the expense limitation agreements as of April 1, 2020, waived or reimbursed fees prior to April 1, 2020 are still subject to recoupment. As of May 31, 2022, the amounts of waivers/reimbursements subject to recoupment for the Global X Millennial Consumer ETF, the Global X Aging Population ETF and the Global X Health & Wellness ETF, $18,918 expiring 2022, $9,461 expiring 2022 and $8,496 expiring 2022, respectively. As of May 31, 2022, there had been no recoupment of previously waived and reimbursed fees.

** Pursuant to an expense limitation agreement between the Global X U.S. Infrastructure Development ETF (the “Fund”) and the Adviser prior to April 1, 2019, the Adviser contractually agreed to reimburse or waive fees and/or limit annual fund expenses to the extent necessary to assure that the operating expenses of the Fund (exclusive of taxes, brokerage fees, commissions, and other transaction expenses, interest, and extraordinary expenses (such as litigation and indemnification expenses)) (“Total Annual Fund Operating Expenses”) would not exceed 0.47% of the Fund’s average daily net assets until April 1, 2019. Pursuant to the expense limitation agreement, the Fund (at a later date) may reimburse the Adviser for the fees it reimbursed or waived and/or limited pursuant to the expense limitation agreement during any of the prior three fiscal years, provided that, among other things, reimbursement to be made to the Adviser does not cause Total Annual Fund Operating Expenses of the Fund to exceed 0.47% during the year in which it is paid and the Board has approved such reimbursement to the Adviser. Although the Board voted to permanently reduce the Fund’s fees to 0.47% and end the expense limitation agreement as of April 1, 2019, prior waived or reimbursed fees are still subject to recoupment. As of May 31, 2022, the amount of waivers/reimbursements subject to recoupment for the Fund was $44,734 expiring in 2022. As of May 31, 2022, there had been no recoupment of previously waived and reimbursed fees.

*** Pursuant to an expense limitation agreement between the Global X Cybersecurity ETF (the “Fund”) and the Adviser prior to April 1, 2021, the Adviser contractually agreed to waive or reimburse fees and/or limit annual fund expenses to the extent necessary to assure that the operating expenses of the Fund (exclusive of taxes, brokerage fees, commissions, and other transaction expenses, interest, and extraordinary expenses (such as litigation and indemnification expenses)) would not exceed 0.50% of the Fund’s average daily net assets until April 1, 2021. The Board voted to permanently reduce the Fund’s fees to 0.50% and end the expense limitation agreement as of April 1, 2021.

SEI Investments Global Funds Services (“SEIGFS”) serves as sub-administrator to the Funds. As sub-administrator, SEIGFS provides the Funds with required general administrative services, including, without limitation: office space, equipment, and personnel; clerical and general back office services; bookkeeping, internal accounting and secretarial services; the calculation of NAV; and assistance with the preparation and filing of reports, registration statements, proxy statements and other materials required to

172

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

3. RELATED PARTY TRANSACTIONS AND SERVICE PROVIDER TRANSACTIONS (continued)

be filed or furnished by the Funds under Federal and state securities laws. As compensation for these services, SEIGFS receives certain out-of-pocket costs, transaction fees and asset-based fees which are accrued daily and paid monthly by the Adviser. SEI Investments Distribution Co. (“SIDCO”) serves as the Funds’ underwriter and distributor of Creation Units pursuant to a distribution agreement. SIDCO has no obligation to sell any specific quantity of Shares. SIDCO bears the following costs and expenses relating to the distribution of Shares: (1) the costs of processing and maintaining records of creations of Creation Units; (2) all costs of maintaining the records required of a registered broker/dealer; (3) the expenses of maintaining its registration or qualification as a dealer or broker under Federal or state laws; (4) filing fees; and (5) all other expenses incurred in connection with the distribution services as contemplated in the distribution agreement. SIDCO receives no fee from the Funds for its distribution services under the distribution agreement; rather, the Adviser compensates SIDCO for certain expenses, out-of-pocket costs, and transaction fees.

BBH serves as the Custodian and transfer agent of the Funds’ assets. As Custodian, BBH has agreed to (1) make receipts and disbursements of money on behalf of the Funds; (2) collect and receive all income and other payments and distributions on account of the Funds’ portfolio investments; (3) respond to correspondence from shareholders, security brokers and others relating to its duties; and (4) make periodic reports to the Funds concerning the Funds’ operations. BBH does not exercise any supervisory function over the purchase and sale of securities. As compensation for these services, BBH receives certain out-of-pocket costs, transaction fees and asset-based fees which are accrued daily and paid monthly by the Adviser from its fees. As transfer agent, BBH has agreed to (1) issue and redeem Shares of each Fund; (2) make dividend and other distributions to shareholders of each Fund; (3) respond to correspondence by shareholders and others relating to its duties; (4) maintain shareholder accounts; and (5) make periodic reports to the Funds. As compensation for these services, BBH receives certain out-of-pocket costs, transaction fees and asset-based fees which are accrued daily and paid monthly by the Adviser from its fees.

173

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

4. INVESTMENT TRANSACTIONS

For the period ended May 31, 2022, the purchases and sales of investments in securities excluding in-kind transactions, long-term U.S. Government, and short-term securities, were:

	Purchases		Sales and Maturities
Global X Robotics & Artificial Intelligence ETF	$	158,568,384	$	153,269,097
Global X Internet of Things ETF		4,094,760		11,342,694
Global X FinTech ETF		170,587,255		230,924,214
Global X Video Games & Esports ETF		114,497,647		136,315,663
Global X Autonomous & Electric Vehicles ETF		250,664,280		241,086,623
Global X Cloud Computing ETF		150,700,245		176,532,917
Global X Data Center REITs & Digital Infrastructure ETF		18,866,029		17,500,729
Global X Cybersecurity ETF		191,438,324		195,642,657
Global X Artificial Intelligence & Technology ETF		24,139,153		20,864,595
Global X Metaverse ETF		886,563		467,790
Global X Millennial Consumer ETF		18,124,251		18,259,371
Global X Education ETF		801,892		811,951
Global X Cannabis ETF		16,437,284		17,570,838
Global X Genomics & Biotechnology ETF		45,418,927		45,496,948
Global X China Biotech Innovation ETF		781,226		779,709
Global X Telemedicine & Digital Health ETF		47,315,779		46,389,334
Global X Aging Population ETF		6,302,336		6,397,386
Global X Health & Wellness ETF		2,999,972		3,778,684
Global X CleanTech ETF		12,351,388		13,226,936
Global X U.S. Infrastructure Development ETF		418,438,956		418,520,246
Global X Thematic Growth ETF		16,811,949		16,689,987
Global X AgTech & Food Innovation ETF		1,823,036		1,659,863
Global X Blockchain ETF		16,064,794		11,758,882
Global X Clean Water ETF		952,388		1,095,250
Global X Hydrogen ETF		7,367,092		6,184,628
Global X Solar ETF		8,755,348		7,242,083
Global X Wind Energy ETF		774,452		752,984
Global X Green Building ETF		399,795		74,881

174

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

4. INVESTMENT TRANSACTIONS (continued)

For each of the periods ended May 31, 2022 and November 30, 2021, in-kind transactions associated with creations and redemptions were, respectively:

2022	Purchases		Sales and Maturities		Realized Gain/(Loss)
Global X Robotics & Artificial Intelligence ETF	$	9,152,391	$	227,472,947	$	34,634,105
Global X Internet of Things ETF		4,273,506		64,640,139		23,011,813
Global X FinTech ETF		78,106,242		108,878,861		24,031,995
Global X Video Games & Esports ETF		5,123,208		116,122,197		(17,274,122	)
Global X Autonomous & Electric Vehicles ETF		321,683,847		339,475,310		72,139,763
Global X Cloud Computing ETF		138,481,193		293,649,179		34,452,153
Global X Data Center REITs & Digital Infrastructure ETF		20,899,960		8,025,772		856,514
Global X Cybersecurity ETF		356,472,431		112,860,314		15,633,078
Global X Artificial Intelligence & Technology ETF		38,881,769		19,819,375		245,071
Global X Metaverse ETF		2,029,877		–		–
Global X Millennial Consumer ETF		11,502,933		54,502,967		13,373,796
Global X Education ETF		–		524,626		(255,824	)
Global X Cannabis ETF		19,424,655		1,403,436		(63,446	)
Global X Genomics & Biotechnology ETF		57,983,480		44,886,106		(1,888,600	)
Global X China Biotech Innovation ETF		–		–		–
Global X Telemedicine & Digital Health ETF		8,887,316		244,608,906		(13,929,595	)
Global X Aging Population ETF		1,957,955		7,646,313		1,790,626
Global X Health & Wellness ETF		–		6,780,692		(134,496	)
Global X CleanTech ETF		14,932,863		29,507,407		(1,220,578	)
Global X U.S. Infrastructure Development ETF		251,188,020		798,120,674		202,180,416
Global X Thematic Growth ETF		19,195,587		9,315,312		(418,321	)
Global X AgTech & Food Innovation ETF		2,224,666		1,430,849		387,467
Global X Blockchain ETF		74,109,488		5,317,460		(177,306	)
Global X Clean Water ETF		–		981,125		59,117
Global X Hydrogen ETF		17,030,119		898,291		120,712
Global X Solar ETF		5,617,451		5,993,787		(822,016	)
Global X Wind Energy ETF		–		–		–
Global X Green Building ETF		2,220,556		–		–

175

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

4. INVESTMENT TRANSACTIONS (continued)

2021	Purchases		Sales and Maturities		Realized Gain/(Loss)
Global X Robotics & Artificial Intelligence ETF	$	516,176,567	$	268,404,834	$	104,021,753
Global X Internet of Things ETF		124,298,078		5,853,786		2,702,825
Global X FinTech ETF		455,294,813		77,635,643		32,639,364
Global X Video Games & Esports ETF		438,401,077		441,702,887		122,014,036
Global X Autonomous & Electric Vehicles ETF		1,243,079,372		291,206,321		85,610,777
Global X Cloud Computing ETF		635,933,771		853,780,576		365,920,393
Global X Data Center REITs & Digital Infrastructure ETF		69,706,585		9,421,401		2,014,075
Global X Cybersecurity ETF		1,711,103,704		690,141,933		61,785,267
Global X Artificial Intelligence & Technology ETF		141,480,507		118,763,825		40,858,235
Global X Millennial Consumer ETF		155,261,180		68,410,599		33,089,756
Global X Education ETF		8,876,876		2,847,433		(337,863	)
Global X Cannabis ETF		275,557,718		51,606,966		24,761,396
Global X Genomics & Biotechnology ETF		240,138,908		35,229,260		13,974,372
Global X China Biotech Innovation ETF		630,424		485,396		145,716
Global X Telemedicine & Digital Health ETF		396,173,748		342,418,244		86,292,306
Global X Aging Population ETF		35,801,242		19,845,490		8,006,911
Global X Health & Wellness ETF		27,943,145		16,642,208		4,758,017
Global X CleanTech ETF		155,189,990		20,025,277		495,401
Global X U.S. Infrastructure Development ETF		4,358,056,593		348,552,979		121,363,658
Global X Thematic Growth ETF		153,127,441		75,266,423		17,652,968
Global X AgTech & Food Innovation ETF		6,436,426		–		–
Global X Blockchain ETF		128,912,482		12,034,770		7,300,346
Global X Clean Water ETF		7,685,779		170,354		32,550
Global X Hydrogen ETF		30,579,365		–		–
Global X Solar ETF		4,426,914		–		–
Global X Wind Energy ETF		2,801,043		–		–

For the period ended May 31, 2022, there were no purchases or sales of long-term U.S. Government securities by the Funds.

5. TAX INFORMATION

The amount and character of income and capital gain distributions to be paid, if any, are determined in accordance with Federal income tax regulations, which may differ from U.S. GAAP. As a result, net investment income (loss) and net realized gain (loss) on investment transactions for a reporting period may differ significantly from distributions during such period. These book/tax differences may be temporary or permanent. To the extent these differences are permanent in nature, they are charged or credited to undistributed net investment income (loss), accumulated net realized gain (loss) or paid-in capital, as appropriate, in the period that the differences arise.

176

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

5. TAX INFORMATION (continued)

The tax character of dividends and distributions declared during the years or periods ended November 30, 2021 and November 30, 2020 were as follows:

Global X Funds	Ordinary Income		Long-Term Capital Gain		Return of Capital		Totals
Global X Robotics & Artificial Intelligence ETF
2021	$	1,369,174	$	–	$	3,009,240	$	4,378,414
2020		5,209,655		–		891,490		6,101,145
Global X Internet of Things ETF
2021	$	1,320,266	$	–	$	–	$	1,320,266
2020		1,147,071		–		–		1,147,071
Global X FinTech ETF
2021	$	–	$	–	$	–	$	–
2020		–		–		–		–
Global X Video Games & Esports ETF
2021	$	4,336,763	$	–	$	–	$	4,336,763
2020		67,560		–		–		67,560
Global X Autonomous & Electric Vehicles ETF
2021	$	2,137,703	$	–	$	–	$	2,137,703
2020		148,067		–		–		148,067
Global X Cloud Computing ETF
2021	$	–	$	–	$	–	$	–
2020		158,369		57,631		–		216,000
Global X Data Center REITs & Digital Infrastructure ETF
2021	$	239,154	$	–	$	–	$	239,154
2020		–		–		–		–
Global X Cybersecurity ETF
2021	$	163,450	$	2,499	$	–	$	165,949
2020		130,636		–		–		130,636
Global X Artificial Intelligence & Technology ETF
2021	$	496,492	$	–	$	–	$	496,492
2020		293,815		–		–		293,815
Global X Millennial Consumer ETF
2021	$	197,478	$	–	$	–	$	197,478
2020		295,120		31,340		–		326,460
Global X Education ETF
2021	$	4,036	$	–	$	6,036	$	10,072
2020		–		–		–		–
Global X Cannabis ETF
2021	$	1,884,853	$	–	$	–	$	1,884,853
2020		501,916		–		–		501,916
Global X Genomics & Biotechnology ETF
2021	$	157,150	$	–	$	–	$	157,150
2020		–		–		–		–
Global X China Biotech Innovation ETF
2021	$	–	$	–	$	–	$	–
2020		–		–		–		–

177

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

5. TAX INFORMATION (continued)

Global X Funds	Ordinary Income		Long-Term Capital Gain		Return of Capital		Totals



Global X Telemedicine & Digital Health ETF
2021	$	193,332	$	–	$	–	$	193,332
2020		–		–		–		–
Global X Aging Population ETF
2021	$	168,728	$	–	$	–	$	168,728
2020		161,566		45,724		–		207,290
Global X Health & Wellness ETF
2021	$	137,684	$	–	$	–	$	137,684
2020		95,104		–		–		95,104
Global X CleanTech ETF
2021	$	85,349	$	–	$	–	$	85,349
2020		–		–		–		–
Global X U.S. Infrastructure Development ETF
2021	$	7,771,784	$	–	$	–	$	7,771,784
2020		1,004,004		–		–		1,004,004
Global X Thematic Growth ETF
2021	$	391,721	$	–	$	–	$	391,721
2020		16,854		–		–		16,854
Global X AgTech & Food Innovation ETF
2021	$	–	$	–	$	–	$	–
Global X Blockchain ETF
2021	$	–	$	–	$	–	$	–
Global X Clean Water ETF
2021	$	8,160	$	–	$	–	$	8,160
Global X Hydrogen ETF
2021	$	–	$	–	$	–	$	–
Global X Solar ETF
2021	$	–	$	–	$	–	$	–
Global X Wind Energy ETF
2021	$	–	$	–	$	–	$	–

178

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

5. TAX INFORMATION (continued)

As of November 30, 2021, the components of tax basis distributable earnings (accumulated losses) were as follows:

	Global X Funds
	Global X Robotics & Artificial Intelligence ETF			Global X Internet of Things ETF			Global X FinTech ETF
Undistributed Ordinary Income	$	–		$	834,626		$	53,277,389
Undistributed Long-Term Capital Gain		–			628,188			–
Capital Loss Carryforwards		(150,741,956	)		–			(29,232,938	)
Unrealized Appreciation on Investments and Foreign Currency		629,295,293			140,161,697			223,274,194
Other Temporary Differences		1			(5	)		3
Total Distributable Earnings	$	478,553,338		$	141,624,506		$	247,318,648

	Global X Funds
	Global X Video Games & Esports ETF			Global X Autonomous & Electric Vehicles ETF			Global X Cloud Computing ETF
Undistributed Ordinary Income	$	1,985,253		$	1,083,211		$	–
Undistributed Long-Term Capital Gain		1,007,377			547,077			21,230,015
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency		(63,806,021	)		89,388,998			(2,774,947	)
Late Year Loss Deferral		–			–			(6,996,928	)
Other Temporary Differences		(1	)		(3	)		2
Total Distributable Earnings (Accumulated Losses)	$	(60,813,392	)	$	91,019,283		$	11,458,142

	Global X Funds
	Global X Data Center REITs & Digital Infrastructure ETF		Global X Cybersecurity ETF			Global X Artificial Intelligence & Technology ETF
Undistributed Ordinary Income	$	541,477	$	6,460,101		$	76,997
Undistributed Long-Term Capital Gain		277		81,575			–
Post October Losses		–		(378,665	)		–
Capital Loss Carryforwards		–		–			(79,609	)
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency		4,904,111		(10,805,777	)		14,164,157
Other Temporary Differences		–		2			(2	)
Total Distributable Earnings (Accumulated Losses)	$	5,445,865	$	(4,642,764	)	$	14,161,543

179

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

5. TAX INFORMATION (continued)

	Global X Funds
	Global X Millennial Consumer ETF			Global X Education ETF			Global X Cannabis ETF
Undistributed Ordinary Income	$	265,511		$	–		$	1,140,709
Capital Loss Carryforwards		(466,313	)		(896,391	)		(66,990,231	)
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency		20,439,830			(5,612,102	)		(108,927,806	)
Other Temporary Differences		(1	)		–			(2	)
Total Distributable Earnings (Accumulated Losses)	$	20,239,027		$	(6,508,493	)	$	(174,777,330	)

	Global X Funds
	Global X Genomics & Biotechnology ETF			Global X China Biotech Innovation ETF			Global X Telemedicine & Digital Health ETF
Undistributed Ordinary Income	$	20,335		$	–		$	–
Capital Loss Carryforwards		(4,935,526	)		(342,730	)		(5,333,192	)
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency		(30,476,601	)		24,336			(114,166,327	)
Late Year Loss Deferral		–			(14,496	)		(3,327,178	)
Other Temporary Differences		1			–			(1	)
Total Accumulated Losses	$	(35,391,791	)	$	(332,890	)	$	(122,826,698	)

	Global X Funds
	Global X Aging Population ETF			Global X Health & Wellness ETF			Global X CleanTech ETF
Undistributed Ordinary Income	$	148,495		$	188,616		$	399,782
Capital Loss Carryforwards		(607,603	)		(207,413	)		(10,334,015	)
Unrealized Depreciation on Investments and Foreign Currency		(1,956,466	)		(492,694	)		(23,164,452	)
Other Temporary Differences		–			–			(4	)
Total Accumulated Losses	$	(2,415,574	)	$	(511,491	)	$	(33,098,689	)

	Global X Funds
	Global X U.S. Infrastructure Development ETF		Global X Thematic Growth ETF			Global X AgTech & Food Innovation ETF
Undistributed Ordinary Income	$	15,555,496	$	351,357		$	36,941
Capital Loss Carryforwards		–		(602,290	)		–
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency		449,921,063		(16,497,616	)		(1,006,982	)
Other Temporary Differences		2		(2	)		1
Total Distributable Earnings (Accumulated Losses)	$	465,476,561	$	(16,748,551	)	$	(970,040	)

180

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

5. TAX INFORMATION (continued)

	Global X Funds
	Global X Blockchain ETF			Global X Clean Water ETF		Global X Hydrogen ETF
Undistributed Ordinary Income	$	4,557,761		$	76,275	$	15,747
Capital Loss Carryforwards		(1,816,728	)		–		–
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency		(685,639	)		115,799		(680,519	)
Other Temporary Differences		(1	)		–		–
Total Distributable Earnings (Accumulated Losses)	$	2,055,393		$	192,074	$	(664,772	)

	Global X Funds
	Global X Solar ETF		Global X Wind Energy ETF
Undistributed Ordinary Income	$	2,117	$	–
Capital Loss Carryforwards		–		(1,716	)
Unrealized Appreciation (Depreciation) on Investments and Foreign Currency		8,237		(250,717	)
Late Year Loss Deferral		–		(1,046	)
Other Temporary Differences		–		(2	)
Total Distributable Earnings (Accumulated Losses)	$	10,354	$	(253,481	)

Qualified late year ordinary (including currency and specified gain/loss items) and Post-October capital losses represent losses realized from January 1, 2021 through November 30, 2021 and November 1, 2021 through November 30, 2021, respectively, that in accordance with Federal income tax regulations, the Funds have elected to defer and treat as having arisen in the following fiscal year.

181

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

5. TAX INFORMATION (continued)

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. Losses carried forward under these provisions are as follows:

Global X Funds	Short-Term Loss		Long-Term Loss		Total
Global X Robotics & Artificial Intelligence ETF	$	84,566,247	$	66,175,709	$	150,741,956
Global X FinTech ETF		9,879,322		19,353,616		29,232,938
Global X Artificial Intelligence & Technology ETF		79,609		-		79,609
Global X Millennial Consumer ETF		466,313		-		466,313
Global X Education ETF		892,023		4,368		896,391
Global X Cannabis ETF		66,990,231		-		66,990,231
Global X Genomics & Biotechnology ETF		4,935,526		-		4,935,526
Global X China Biotech Innovation ETF		342,730		-		342,730
Global X Telemedicine & Digital Health ETF		5,333,192		-		5,333,192
Global X Aging Population ETF		395,424		212,179		607,603
Global X Health & Wellness ETF		32,918		174,495		207,413
Global X CleanTech ETF		10,334,015		-		10,334,015
Global X Thematic Growth ETF		602,290		-		602,290
Global X Blockchain ETF		1,816,728		-		1,816,728
Global X Wind Energy ETF		1,716		-		1,716

During the year ended November 30, 2021, the following Funds utilized capital loss carryforwards to offset capital gains amounting to:

Global X Funds	Short-Term Loss		Long-Term Loss		Total
Global X Robotics & Artificial Intelligence ETF	$	3,842,429	$	-	$	3,842,429
Global X Internet of Things ETF		2,400,581		1,093,750		3,494,331
Global X FinTech ETF		1,103,918		2,017,792		3,121,710
Global X Autonomous & Electric Vehicles ETF		624,629		418,854		1,043,483
Global X Cloud Computing ETF		1,239,928		-		1,239,928
Global X Artificial Intelligence & Technology ETF		381,637		157,197		538,834
Global X Millennial Consumer ETF		381,063		-		381,063
Global X Cannabis ETF		-		146,699		146,699
Global X Health & Wellness ETF		142,079		-		142,079

182

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

5. TAX INFORMATION (continued)

The Federal tax cost basis of investments and aggregate gross unrealized appreciation and depreciation on investments held by the Funds at May 31, 2022, were as follows:

Global X Funds	Federal Tax Cost		Aggregated Gross Unrealized Appreciation		Aggregated Gross Unrealized Depreciation			Net Unrealized Appreciation (Depreciation)
Global X Robotics & Artificial Intelligence ETF	$	1,926,657,153	$	239,378,657	$	(525,508,338	)	$	(286,129,681	)
Global X Internet of Things ETF		333,661,240		46,450,992		(35,355,982	)		11,095,010
Global X FinTech ETF		992,447,878		46,386,359		(282,255,012	)		(235,868,653	)
Global X Video Games & Esports ETF		395,232,823		5,361,077		(121,235,657	)		(115,874,580	)
Global X Autonomous & Electric Vehicles ETF		1,329,709,398		52,282,437		(256,858,099	)		(204,575,662	)
Global X Cloud Computing ETF		1,114,868,360		31,220,920		(436,499,942	)		(405,279,022	)
Global X Data Center REITs & Digital Infrastructure ETF		97,193,279		2,656,264		(9,155,887	)		(6,499,623	)
Global X Cybersecurity ETF		1,358,369,477		51,608,486		(262,047,190	)		(210,438,704	)
Global X Artificial Intelligence & Technology ETF		194,575,259		4,098,444		(44,866,767	)		(40,768,323	)
Global X Metaverse ETF		2,426,070		98,046		(173,951	)		(75,905	)
Global X Millennial Consumer ETF		173,164,867		2,975,910		(54,744,979	)		(51,769,069	)
Global X Education ETF		10,481,009		151,582		(6,616,569	)		(6,464,987	)
Global X Cannabis ETF		191,242,917		60,886		(111,009,469	)		(110,948,583	)
Global X Genomics & Biotechnology ETF		279,774,253		4,586,539		(105,944,579	)		(101,358,040	)
Global X China Biotech Innovation ETF		3,705,418		119,042		(1,183,075	)		(1,064,033	)
Global X Telemedicine & Digital Health ETF		332,807,306		4,932,631		(156,739,482	)		(151,806,851	)
Global X Aging Population ETF		57,320,304		3,763,325		(9,690,865	)		(5,927,540	)
Global X Health & Wellness ETF		31,286,051		899,004		(8,543,946	)		(7,644,942	)
Global X CleanTech ETF		170,221,760		709,255		(55,938,183	)		(55,228,928	)
Global X U.S. Infrastructure Development ETF		4,346,938,125		347,545,036		(321,783,611	)		25,761,425
Global X Thematic Growth ETF		131,127,202		–		(44,844,921	)		(44,844,921	)
Global X AgTech & Food Innovation ETF		8,172,042		492,754		(2,180,435	)		(1,687,681	)
Global X Blockchain ETF		188,692,961		95,141		(100,075,497	)		(99,980,356	)
Global X Clean Water ETF		7,363,065		69,641		(1,142,662	)		(1,073,021	)
Global X Hydrogen ETF		45,424,051		469,267		(10,932,492	)		(10,463,225	)
Global X Solar ETF		7,402,436		1,094,692		(52,937	)		1,041,755
Global X Wind Energy ETF		4,418,863		107,805		(755,530	)		(647,725	)
Global X Green Building ETF		2,545,048		14,420		(180,963	)		(166,543	)

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Funds’ net unrealized appreciation difference is attributable primarily to wash sales, mark-to-market treatment of passive foreign investment companies and partnership adjustments.

The Funds invest in securities of foreign issuers in various countries. These investments may involve certain considerations and risks not typically associated with investments in the United States as a result of, among other factors, the possibility of future political and economic developments and the level of governmental supervision and regulation of securities markets in the respective countries.

183

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

6. CONCENTRATION OF RISKS

The Funds may invest in companies focused on business activities in emerging economic themes. Such thematic companies typically face intense competition and potentially rapid product obsolescence. Thematic companies may have limited product lines, markets, financial resources or personnel. These companies typically engage in significant amounts of spending on research and development, capital expenditures and mergers and acquisitions, and there is no guarantee that the products or services produced by these companies will be successful. These companies are also frequently dependent on intellectual property rights and may be adversely affected by loss or impairment of those rights. There can be no assurance these companies will be able to successfully protect their intellectual property to prevent the misappropriation of their technology, or that competitors will not develop technology that is substantially similar or superior to such companies’ technology. Such companies may be potential targets for cyberattacks, which can have a materially adverse impact on the performance of these companies. The emergent nature of many economic themes could result in increasing regulatory scrutiny in the future, which may impede the growth of companies that develop and/or focus on such economic themes. Similarly, the collection of data from consumers and other sources is frequently a critical component in emerging economic themes and could face increased scrutiny as regulators consider how the data is collected, stored, safeguarded and used. Finally, these companies may be involved in young, fast evolving industries with increased exposure to the risks associated with changes in applicable laws (including regulation, other rule changes, and related Federal and state enforcement activities), as well as market developments, which may cause businesses to contract or close suddenly and negatively impact the value of these companies.

Special Risk Considerations of Investing in China – Variable Interest Entity Investments. For purposes of raising capital offshore on exchanges outside of China, including on U.S. exchanges, many Chinese-based operating companies are structured as Variable Interest Entities (“VIEs”). In this structure, the Chinese-based operating company is the VIE and establishes a shell company in a foreign jurisdiction, such as the Cayman Islands. The shell company lists on a foreign exchange and enters into contractual arrangements with the VIE. This structure allows Chinese companies in which the Chinese government restricts foreign ownership to raise capital from foreign investors. While the shell company has no equity ownership of the VIE, these contractual arrangements permit the shell company to consolidate the VIE’s financial statements with its own for accounting purposes and provide for economic exposure to the performance of the underlying Chinese operating company. Therefore, an investor in the listed shell company, such as certain of the Funds, will have exposure to the Chinese-based operating company only through contractual arrangements and has no ownership in the Chinese-based operating company. Furthermore, because the shell company only has specific rights provided for in these service agreements with the VIE, its abilities to control the activities at the Chinese-based operating company are limited and the operating company may engage in activities that negatively impact investment value. While the VIE structure has been

184

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

6. CONCENTRATION OF RISKS (continued)

widely adopted, it is not formally recognized under Chinese law and therefore there is a risk that the Chinese government could prohibit the existence of such structures or negatively impact the VIE’s contractual arrangements with the listed shell company by declaring them invalid. If these contracts were found to be unenforceable under Chinese law, investors in the listed shell company, such as the Fund, may suffer significant losses with little or no recourse available. If the Chinese government determines that the agreements establishing the VIE structures do not comply with Chinese law and regulations, including those related to restrictions on foreign ownership, it could subject a Chinese-based issuer to penalties, revocation of business and operating licenses, or forfeiture of ownership interest. In addition, the listed shell company’s control over a VIE may also be jeopardized if a natural person who holds the equity interest in the VIE breaches the terms of the agreement, is subject to legal proceedings or if any physical instruments for authenticating documentation, such as chops and seals, are used without the Chinese-based issuer’s authorization to enter into contractual arrangements in China. Chops and seals, which are carved stamps used to sign documents, represent a legally binding commitment by the company. Moreover, any future regulatory action may prohibit the ability of the shell company to receive the economic benefits of the Chinese based operating company, which may cause the value of a Fund’s investment in the listed shell company to suffer a significant loss. For example, in 2021, the Chinese government prohibited use of the VIE structure for investment in after-school tutoring companies. There is no guarantee that the government will not place similar restrictions on other industries.

On June 3, 2021, President Biden expanded upon a previously issued executive order that prohibited U.S. persons from transacting in publicly traded securities designated by the U.S. Department of Defense as “Communist Chinese Military Companies” or “CCMCs” or in instruments that are derivative of, or are designed to provide investment exposure to, prohibited CCMC securities. President Biden’s executive order (the “Executive Order”) retains the structure of the investment-based CCMC sanctions program introduced in late 2020 but expands the prohibitions to address threats from the use of Chinese surveillance technology outside the People’s Republic of China and the development or use of Chinese surveillance technology to facilitate repression or serious human rights abuse.

Under the Executive Order, U.S. persons will be prohibited from engaging in the purchase or sale of publicly-traded securities, as well as securities derivative of, or designed to provide investment exposure to, such securities. This prohibition took effect on August 2, 2021 for entities listed in the Appendix to the Executive Order (and 60 days after designation, with respect to subsequently designated entities). In addition, U.S. persons were required to divest of targeted securities of entities listed in the Appendix to the Executive Order by June 3, 2022 (or 365 days from designation, with respect to subsequently designated entities).

185

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

6. CONCENTRATION OF RISKS (continued)

The Executive Order replaces the previous list of CCMCs with a new Non-SDN Chinese Military Industrial Complex Companies List. The U.S. Department of the Treasury, rather than the U.S. Department of Defense, will make designations going forward.

These actions, any future sanctions or other actions, or even the threat of further sanctions or other actions, may negatively affect the value and liquidity of certain of the Funds’ investments. For example, a Fund may be prohibited from investing in securities issued by companies subject to such sanctions. In addition, sanctions may require a Fund to freeze its existing investments, prohibiting such Fund from buying, selling or otherwise transacting in these investments. Each Fund may be subject to taxes imposed by countries in which they invest. Such taxes are generally based on either income or gains earned or repatriated. The Funds accrue and apply such taxes to net investment income, net realized gains and net unrealized gains as income and/or capital gains are earned.

The Funds use a replication strategy. A replication strategy is an indexing strategy that involves investing in the securities of an underlying index in approximately the same proportions as in the underlying index. A representative sampling strategy is an indexing strategy that involves investing in a representative sample of securities (including indirect investments through underlying ETFs) that collectively has an investment profile similar to an underlying index in terms of key risk factors, performance attributes and other characteristics. Each Fund may utilize a representative sampling strategy with respect to its underlying index when a replication strategy might be detrimental to its shareholders, such as when there are practical difficulties or substantial costs involved in compiling a portfolio of equity securities to follow its underlying index, or, in certain instances, when securities in the underlying index become temporarily illiquid, unavailable or less liquid, or due to legal restrictions (such as diversification requirements that apply to a Fund but not its underlying index).

Commodity related securities are susceptible to fluctuations in certain commodity markets. Any negative changes in commodity markets could have a substantial impact on these Funds.

The elimination of the London Inter-Bank Offered Rate (“LIBOR”) may adversely affect the interest rates on, and value of, certain Fund investments for which the value is tied to LIBOR. The U.K. Financial Conduct Authority has announced that it intends to stop compelling or inducing banks to submit LIBOR rates after 2021. On March 5, 2021, the administrator of LIBOR clarified that the publication of LIBOR on a representative basis will cease for the one-week and two-month U.S. dollar LIBOR settings immediately after December 31, 2021, and for the remaining U.S. dollar LIBOR settings immediately after June 30, 2023. Alternatives to LIBOR are established or in development in most major currencies, including the Secured Overnight Financing Rate (“SOFR”), which is intended to replace U.S. dollar LIBOR. Markets are slowly developing in response to these new rates. Questions regarding the impact of this transition remain a concern for the Funds. Accordingly, it is difficult to predict the full impact of the transition away from LIBOR

186

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

6. CONCENTRATION OF RISKS (continued)

on the Funds until new reference rates and fallbacks for both legacy and new products, instruments and contracts are commercially accepted.

A more complete description of risks is included in each Fund’s Prospectus and Statement of Additional Information.

7. LOANS OF PORTFOLIO SECURITIES

Each Fund may lend portfolio securities having a market value up to one-third of its total assets. Security loans made pursuant to a securities lending agreement with BBH are initially required to be secured by collateral equal to at least 102% of the value of domestic equity securities and American Depositary Receipts (“ADRs”) and 105% of the value of foreign equity securities (other than ADRs). Such collateral received in connection with these loans will be cash and can be invested in repurchase agreements, short-term investments, or U.S. Treasury obligations and is recognized in the Schedules of Investments and Statements of Assets and Liabilities. The obligation to return securities lending collateral is also recognized as a liability in the Statements of Assets and Liabilities. It is the Funds’ policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan.

Lending securities entails a risk of loss to the Funds if and to the extent that the market values of the securities loaned were to increase and the borrower did not increase the collateral accordingly and the borrower failed to return the securities. In the event the borrower may not provide additional collateral when required or may not return the securities when due, the securities lending agency agreement requires the lending agent to indemnify the Funds by replacing either the security or the security’s current market value to the Funds. The Funds could suffer a loss if the value of an investment purchased with cash collateral falls below the market value of loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. The Funds could also experience delays and costs in gaining access to the collateral. The Funds bear the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested.

187

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

7. LOANS OF PORTFOLIO SECURITIES (continued)

At May 31, 2022, the following Funds had securities on loan, by counterparty:

	Market Value		Cash Collateral
Global X Robotics & Artificial Intelligence ETF
Barclays Capital Inc.	$	5,452,458	$	5,685,700
BNP Paribas Securities Corp		478,325		531,230
BofA Securities Inc.		6,075,072		6,561,897
Citigroup		6,404,140		6,559,133
Goldman Sachs & Co.		5,303,845		5,681,479
J.P. Morgan Securities LLC		4,928,903		5,150,891
Morgan Stanley & Co. LLC		21,813,313		22,428,162
National Financial Services LLC		739,212		805,620
Nomura Securities International Inc		609,351		645,100
Scotia Capital		127,502		135,000
SG Americas Securities		1,073,047		1,143,625
UBS AG London Branch		315,986		334,500
UBS Securities LLC		2,311,716		2,451,995
Total	$	55,632,870	$	58,114,332

Global X Internet of Things ETF
Barclays Capital Inc.	$	218,120	$	233,700
BNP Paribas Securities Corp		284,640		286,680
Citigroup		-		822,305
Credit Suisse Securities		437,787		471,661
Goldman Sachs & Co.		496,710		524,414
J.P. Morgan Securities LLC		1,812,840		1,956,678
SG Americas Securities		163,362		180,458
Total	$	3,413,459	$	4,475,896

Global X FinTech ETF
Barclays Capital Inc.	$	5,708,700	$	5,843,160
BMO Capital Markets		481,610		483,155
BNP Parabis S.A. (New York Branch)		15,512		17,760
BNP Paribas Securities Corp		746,665		768,395
BofA Securities Inc.		9,430,767		9,117,208	⁽¹⁾
Citigroup		5,445,838		5,580,154
Goldman Sachs & Co.		3,087,188		3,225,150
J.P. Morgan Securities LLC		4,675,753		4,841,667
Morgan Stanley & Co. LLC		26,033,820		26,409,504
National Financial Services LLC		17,270		18,920
Scotia Capital		1,997,834		2,208,311
UBS AG London Branch		172,956		198,024
UBS Securities LLC		3,258,437		3,374,290
Total	$	61,072,350	$	62,085,698

188

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

7. LOANS OF PORTFOLIO SECURITIES (continued)

	Market Value		Cash Collateral
Global X Video Games & Esports ETF
Barclays Capital Inc.	$	60,345	$	58,725	⁽¹⁾
BNP Paribas Securities Corp.		218,355		215,525	⁽¹⁾
BofA Securities Inc.		794,396		846,370
Citigroup		4,869,713		5,128,055
Goldman Sachs & Co.		1,116,540		1,169,004
J.P. Morgan Securities LLC		1,179,197		1,252,728
Morgan Stanley & Co. LLC		4,482,930		4,366,760	⁽¹⁾
National Financial Services LLC		112,080		121,170
Normura Securities International Inc.		55,680		69,600
UBS AG London Branch		141,829		2,625,682
Total	$	13,031,065	$	15,853,619

Global X Autonomous & Electric Vehicles ETF
Barclays Capital Inc.	$	1,097,854	$	1,078,200	⁽¹⁾
BMO Capital Markets		1,715,942		1,813,585
BNP Paribas Securities Corp.		7,156,178		7,345,180
BofA Securities Inc.		5,869,096		6,428,463
Citigroup		3,803,342		4,227,630
Goldman Sachs & Co.		18,511,539		19,804,488
J.P. Morgan Securities LLC		3,745,638		4,012,650
Morgan Stanley & Co. LLC		10,387,587		10,793,898
National Financial Services LLC		2,047,525		2,187,658
Normura Securities International Inc.		297,563		315,000
Scotia Capital		7,126,521		7,814,147
UBS AG London Branch		503,586		521,160
UBS Securities LLC		2,535,749		2,561,724
Total	$	64,798,120	$	68,903,783

Global X Artificial Intelligence & Technology ETF
BNP Paribas Securities Corp.	$	268,906	$	266,030	⁽¹⁾
BofA Securities Inc.		1,455,888		1,481,025
Citigroup		205,733		209,611
J.P. Morgan Securities LLC		258,427		268,775
Wells Fargo Securities LLC		20,160		20,600
Total	$	2,209,114	$	2,246,041

Global X Millennial Consumer ETF
BNP Paribas Securities Corp.	$	244,110	$	251,220
Total	$	244,110	$	251,220

189

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

7. LOANS OF PORTFOLIO SECURITIES (continued)

	Market Value		Cash Collateral
Global X Cannabis ETF
Barclays Capital Inc.	$	4,643,338	$	4,901,524
BMO Capital Markets		126,431		134,744
BNP Parabis S.A. (New York Branch)		216,780		238,814
BNP Paribas Securities (USA) LLC		930,459		957,315
Credit Suisse Securities		119,327		149,997
Goldman Sachs & Co.		630,734		704,218
J.P. Morgan Securities LLC		3,857,896		4,266,770
Morgan Stanley & Co. LLC		2,456,855		2,565,569
National Financial Services LLC		37,633		42,500
Scotia Capital		3,309,407		3,483,249
UBS AG London Branch		1,125,225		1,215,032
UBS Securities LLC		377,471		962,200
Total	$	17,831,556	$	19,621,932

Global X Genomics & Biotechnology ETF
Barclays Capital Inc.	$	1,480,373	$	1,711,414
Citigroup		476,501		539,683
Goldman Sachs & Co.		2,081,519		2,184,885
Morgan Stanley & Co. LLC		1,029,815		1,081,535
UBS AG London Branch		964,659		921,500	⁽¹⁾
Wells Fargo Securities LLC		766,260		788,700
Total	$	6,799,127	$	7,227,717

Global X Telemedicine & Digital Health ETF
Barclays Capital Inc.	$	434,072	$	466,300
Citigroup		3,926,868		4,126,036
Goldman Sachs & Co.		4,926,522		5,270,018
National Financial Services LLC		235,301		251,093
UBS AG London Branch		272,600		377,400
Total	$	9,795,363	$	10,490,847

Global X U.S. Infrastructure Development ETF
UBS Securities LLC	$	3,062,844	$	3,160,485
Total	$	3,062,844	$	3,160,485

Global X Thematic Growth ETF
Barclays Capital Inc.	$	946,580	$	993,750
Citigroup		291,295		301,875
Goldman Sachs & Co.		1,262,228		1,308,776
Morgan Stanley & Co. LLC		3,005,838		3,130,380
UBS AG London Branch		385,776		708,264
Total	$	5,891,717	$	6,443,045

190

	Notes to Financial Statements (Unaudited) (Continued)
	May 31, 2022

7. LOANS OF PORTFOLIO SECURITIES (continued)

	Market Value		Cash Collateral
Global X Blockchain ETF
BMO Capital Markets	$	802,138	$	781,353	⁽¹⁾
BNP Parabis S.A. (New York Branch)		263,958		302,216
BNP Paribas Securities Corp.		406,120		399,620	⁽¹⁾
BofA Securities Inc.		5,845,654		6,488,937
Goldman Sachs & Co.		4,327,962		4,719,477
J.P. Morgan Securities LLC		857,489		852,600	⁽¹⁾
National Financial Services LLC		4,156,053		4,128,750	⁽¹⁾
Nomura Securities International Inc.		221,143		245,698
Scotia Capital		2,479,404		2,750,016
Total	$	19,359,921	$	20,668,667

⁽¹⁾ It is the Funds’ policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan.

8. CONTRACTUAL OBLIGATIONS

The Funds enter into contracts in the normal course of business that contain a variety of indemnifications. The Funds’ maximum exposure under these arrangements is unknown, however, the Funds have not had prior gains or losses pursuant to these contracts. Management has reviewed the Funds’ existing contracts and expects the risk of loss to be remote.

Pursuant to the Trust’s organizational documents, the Trustees of the Trust and the Trust’s officers are indemnified against certain liabilities that may arise out of the performance of their duties.

9. REGULATORY MATTERS

In December 2020, the U.S. Securities and Exchange Commission (the “SEC) adopted a new rule providing a framework for fund valuation practices (“Rule 2a-5”). Rule 2a-5 establishes requirements for determining fair value in good faith for purposes of the 1940 Act. Rule 2a-5 will permit fund boards to designate certain parties to perform fair value determinations, subject to board oversight and certain other conditions. Rule 2a-5 also defines when market quotations are “readily available” for purposes of the 1940 Act and the threshold for determining whether a fund must fair value a security. In connection with Rule 2a-5, the SEC also adopted a related recordkeeping rule, (together with Rule 2a-5, the “Rules”) and is rescinding previously issued guidance, including with respect to the role of a board in determining fair value and the accounting and auditing of fund investments. The Funds will be required to comply with the Rules by September 8, 2022. Management is currently assessing the potential impact of the new Rules on the Funds’ financial statements.

191

	Notes to Financial Statements (Unaudited) (Concluded)
	May 31, 2022

10. SUBSEQUENT EVENTS

The Board of the Trust approved a reverse stock split of one to six (1:6) of the issued and outstanding shares of the Global X Cannabis ETF (the “Reverse Stock Split”). The Reverse Stock Split was completed after the close of business on June 10, 2022.

The Funds have been evaluated by management regarding the need for additional disclosures (other than what is disclosed in the preceding paragraph) and/or adjustments resulting from subsequent events. Based on this evaluation, no additional adjustments were required to the financial statements.

192

	Disclosure of Fund Expenses (Unaudited)

All ETFs (such as the Funds) have operating expenses. As a shareholder of an ETF, your investment is affected by these ongoing costs, which include (among others) costs for ETF management, administrative services, commissions, and shareholder reports like this one. It is important for you to understand the impact of these costs on your investment returns. In addition, a shareholder is responsible for brokerage fees as a result of their investment in the Fund.

Operating expenses such as these are deducted from a Fund’s gross income and directly reduce their final investment returns. These expenses are expressed as a percentage of the ETF’s average net assets; this percentage is known as the ETF’s expense ratio.

The following examples use the expense ratio and are intended to help you understand the ongoing costs (in dollars) of investing in a Fund and to compare these costs with those of other funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period (December 1, 2021 to May 31, 2022).

The table on the next page illustrates the Fund’s costs in two ways:

Actual Fund Return. This section helps you to estimate the actual expenses that your Fund incurred over the period. The “Expenses Paid During Period” column shows the actual dollar expense cost incurred by a $1,000 investment in the Fund, and the “Ending Account Value” number is derived from deducting that expense cost from the Fund’s gross investment return.

You can use this information, together with the actual amount you invested in the Funds, to estimate the expenses you paid over that period. Simply divide your actual account value by $1,000 to arrive at a ratio (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply that ratio by the number shown for your Funds under “Expenses Paid During Period.”

Hypothetical 5% Return. This section helps you compare your Fund’s costs with those of other funds. It assumes that the Funds had an annual 5% return before expenses during the year, but that the expense ratio (Column 3) for the period is unchanged. This example is useful in making comparisons because the SEC requires all funds to make this 5% calculation. You can assess your Fund’s comparative cost by comparing the hypothetical result for your Fund in the “Expenses Paid During Period” column with those that appear in the same charts in the shareholder reports for other funds.

NOTE: Because the return is set at 5% for comparison purposes — NOT your Fund’s actual return — the account values shown may not apply to your specific investment.

193

	Disclosure of Fund Expenses (Unaudited) (Continued)

	Beginning Account Value 12/1/2021		Ending Account Value 5/31/2022		Annualized Expense Ratios			Expenses Paid During Period⁽¹⁾
Global X Robotics & Artificial Intelligence ETF
Actual Fund Return	$	1,000.00	$	658.70		0.68	%	$	2.81
Hypothetical 5% Return		1,000.00		1,021.54		0.68			3.43

Global X Internet of Things ETF
Actual Fund Return	$	1,000.00	$	784.40		0.68	%	$	3.03
Hypothetical 5% Return		1,000.00		1,021.54		0.68			3.43

Global X FinTech ETF
Actual Fund Return	$	1,000.00	$	586.00		0.68	%	$	2.69
Hypothetical 5% Return		1,000.00		1,021.54		0.68			3.43

Global X Video Games & Esports ETF
Actual Fund Return	$	1,000.00	$	792.70		0.50	%	$	2.23
Hypothetical 5% Return		1,000.00		1,022.44		0.50			2.52

Global X Autonomous & Electric Vehicles ETF
Actual Fund Return	$	1,000.00	$	821.30		0.68	%	$	3.09
Hypothetical 5% Return		1,000.00		1,021.54		0.68			3.43

Global X Cloud Computing ETF
Actual Fund Return	$	1,000.00	$	639.60		0.68	%	$	2.78
Hypothetical 5% Return		1,000.00		1,021.54		0.68			3.43

Global X Data Center REITs & Digital Infrastructure ETF
Actual Fund Return	$	1,000.00	$	889.70		0.50	%	$	2.36
Hypothetical 5% Return		1,000.00		1,022.44		0.50			2.52

Global X Cybersecurity ETF
Actual Fund Return	$	1,000.00	$	835.70		0.50	%	$	2.29
Hypothetical 5% Return		1,000.00		1,022.44		0.50			2.52

Global X Artificial Intelligence & Technology ETF
Actual Fund Return	$	1,000.00	$	721.00		0.68	%	$	2.92
Hypothetical 5% Return		1,000.00		1,021.54		0.68			3.43

Global X Metaverse ETF *
Actual Fund Return	$	1,000.00	$	976.80		0.50	%	$	0.47	⁽²⁾
Hypothetical 5% Return		1,000.00		1,022.40		0.50			2.52

Global X Millennial Consumer ETF
Actual Fund Return	$	1,000.00	$	692.20		0.50	%	$	2.11
Hypothetical 5% Return		1,000.00		1,022.44		0.50			2.52

194

	Disclosure of Fund Expenses (Unaudited) (Continued)

	Beginning Account Value 12/1/2021		Ending Account Value 5/31/2022		Annualized Expense Ratios			Expenses Paid During Period⁽¹⁾
Global X Education ETF
Actual Fund Return	$	1,000.00	$	692.00		0.50	%	$	2.11
Hypothetical 5% Return		1,000.00		1,022.44		0.50			2.52

Global X Cannabis ETF
Actual Fund Return	$	1,000.00	$	484.60		0.50	%	$	1.85
Hypothetical 5% Return		1,000.00		1,022.44		0.50			2.52

Global X Genomics & Biotechnology ETF
Actual Fund Return	$	1,000.00	$	581.50		0.50	%	$	1.97
Hypothetical 5% Return		1,000.00		1,022.44		0.50			2.52

Global X China Biotech Innovation ETF
Actual Fund Return	$	1,000.00	$	614.00		0.65	%	$	2.62
Hypothetical 5% Return		1,000.00		1,021.69		0.65			3.28

Global X Telemedicine & Digital Health ETF
Actual Fund Return	$	1,000.00	$	731.00		0.68	%	$	2.93
Hypothetical 5% Return		1,000.00		1,021.54		0.68			3.43

Global X Aging Population ETF
Actual Fund Return	$	1,000.00	$	958.70		0.50	%	$	2.44
Hypothetical 5% Return		1,000.00		1,022.44		0.50			2.52

Global X Health & Wellness ETF
Actual Fund Return	$	1,000.00	$	771.70		0.50	%	$	2.21
Hypothetical 5% Return		1,000.00		1,022.44		0.50			2.52

Global X CleanTech ETF
Actual Fund Return	$	1,000.00	$	726.80		0.50	%	$	2.15
Hypothetical 5% Return		1,000.00		1,022.44		0.50			2.52

Global X U.S. Infrastructure Development ETF
Actual Fund Return	$	1,000.00	$	952.50		0.47	%	$	2.29
Hypothetical 5% Return		1,000.00		1,022.59		0.47			2.37

Global X Thematic Growth ETF
Actual Fund Return	$	1,000.00	$	669.50		0.00	%	$	0.00
Hypothetical 5% Return		1,000.00		1,024.18		0.00			0.00

Global X AgTech & Food Innovation ETF
Actual Fund Return	$	1,000.00	$	917.70		0.50	%	$	2.39
Hypothetical 5% Return		1,000.00		1,022.44		0.50			2.52

195

	Disclosure of Fund Expenses (Unaudited) (Concluded)

	Beginning Account Value 12/1/2021		Ending Account Value 5/31/2022		Annualized Expense Ratios			Expenses Paid During Period⁽¹⁾
Global X Blockchain ETF
Actual Fund Return	$	1,000.00	$	272.60		0.50	%	$	1.59
Hypothetical 5% Return		1,000.00		1,022.44		0.50			2.52

Global X Clean Water ETF
Actual Fund Return	$	1,000.00	$	844.90		0.50	%	$	2.30
Hypothetical 5% Return		1,000.00		1,022.44		0.50			2.52

Global X Hydrogen ETF
Actual Fund Return	$	1,000.00	$	588.10		0.50	%	$	1.98
Hypothetical 5% Return		1,000.00		1,022.44		0.50			2.52

Global X Solar ETF
Actual Fund Return	$	1,000.00	$	783.40		0.50	%	$	2.27
Hypothetical 5% Return		1,000.00		1,022.39		0.50			2.57

Global X Wind Energy ETF
Actual Fund Return	$	1,000.00	$	836.70		0.50	%	$	2.29
Hypothetical 5% Return		1,000.00		1,022.44		0.50			2.52

Global X Green Building ETF **
Actual Fund Return	$	1,000.00	$	940.50		0.45	%	$	0.60	⁽³⁾
Hypothetical 5% Return		1,000.00		1,022.69		0.45			2.27

(1)	Expenses are equal to the Fund’s annualized expense ratio multiplied by the average account value over the period, multiplied by 182/365 (to reflect the one-half year period).
(2)	Expenses are equal to the Fund’s annualized expense ratio multiplied by the average account value over the period, multiplied by 35/365 (to reflect the period from inception to date).
(3)	Expenses are equal to the Fund’s annualized expense ratio multiplied by the average account value over the period, multiplied by 50/365 (to reflect the period from inception to date).
*	The Fund commenced operations on April 26, 2022.
**	The Fund commenced operations on April 11, 2022.

196

Approval of Investment Advisory Agreement (Unaudited)

Section 15(c) of the Investment Company Act of 1940, as amended (“1940 Act”), requires that the board of trustees of an exchange-traded fund (“ETF”), including a majority of those trustees who are not “interested persons” of the ETF, as defined in the 1940 Act (“Independent Trustees”), consider on an initial basis and periodically thereafter (as required by the 1940 Act), at an in person meeting called for such purpose, the terms of each ETF’s investment advisory agreement and whether to approve entering into, or renewing, each agreement.

At Board meetings of the Global X Funds (the “Trust”) held by videoconference on November 12, 2021¹ and February 25, 2022¹ (the “New Fund Board Meetings”), the Board of Trustees (the “Board”) (including the Trust’s Independent Trustees, voting separately) considered and unanimously approved (i) the initial Investment Advisory Agreement (each a “New Investment Advisory Agreement”) for each of the Global X Green Building ETF and the Global X Metaverse ETF, respectively (each a “New Fund” and, together, the “New Funds”) and (ii) the initial Supervision and Administration Agreement between the Trust (each a “New Supervision and Administration Agreement”), on behalf of each New Fund, and Global X Management Company LLC (“Global X Management”). Each New Advisory Agreement and New Supervision and Administration Agreement are referred to collectively as the “New Fund Agreements.”

In advance of the Board meeting, the Board (including the Trust’s Independent Trustees) and the Independent Trustees’ independent legal counsel requested (in writing) detailed information from Global X Management in connection with the Board’s consideration of the New Fund Agreements and received and reviewed written responses from Global X Management and supporting materials relating to those requests for information. In the course of their consideration of the New Fund Agreements, the Trust’s Independent Trustees were advised by their independent legal counsel and, in addition to meetings with management of Global X Management, the Independent Trustees met separately in executive sessions with their counsel.

¹ This meeting was held via videoconference in reliance on an exemptive order issued by the Securities and Exchange Commission on March 25, 2020. Reliance on the exemptive order is necessary and appropriate due to circumstances related to current or potential effects of COVID-19. All Trustees participating in the videoconference meeting were able to hear each other simultaneously during the meeting. Reliance on the exemptive order requires Trustees, including a majority of the Independent Trustees, to ratify actions taken pursuant to the exemptive order by vote cast at the next in-person meeting.

197

Approval of Investment Advisory Agreement (Unaudited) (Continued)

NEW FUND AGREEMENTS

In determining to approve the New Fund Agreements for the New Funds, the Board considered a variety of factors, including the factors discussed in greater detail below.

Nature, Extent and Quality of Services

With respect to this factor, the Board considered:

● the terms of the New Fund Agreements and the range of services proposed to be provided to the New Funds in accordance with the New Fund Agreements;

● Global X Management’s key personnel and the portfolio managers who would provide investment advisory, supervision and administrative services to the New Funds;

● Global X Management’s responsibilities under the New Fund Agreements to, among other things, (i) manage the investment operations of the New Funds and the composition of the New Funds’ assets, including the purchase, retention and disposition of its holdings, (ii) provide quarterly reports to the Trust’s officers and the Board and other reports as the Board deems necessary or appropriate, (iii) vote proxies, exercise consents, and exercise all other rights appertaining to securities and assets held by the New Funds, (iv) select broker-dealers to execute portfolio transactions for the New Funds when necessary, (v) assist in the preparation and filing of reports and proxy statements (if any) to the shareholders of the New Funds, and the periodic updating of the registration statements, prospectuses, statements of additional information, and other reports and documents for the New Funds that are required to be filed by the Trust with the U.S. Securities and Exchange Commission (“SEC”) and other regulatory or governmental bodies, and (vi) monitor anticipated purchases and redemptions of the shares (including Creation Units) of the New Funds by shareholders and new investors;

● the nature, extent and quality of all of the services (including advisory, administrative and compliance services) that are proposed to be provided by Global X Management or made available to the New Funds; and

● the quality of Global X Management’s resources and personnel that would be made available to the New Funds, including Global X Management’s experience and the professional qualifications of Global X Management’s key personnel.

198

Approval of Investment Advisory Agreement (Unaudited) (Continued)

Based on these considerations, the Board concluded, at the New Fund Board Meetings, that it was satisfied with the nature, extent and quality of the services proposed to be provided to the New Funds by Global X Management.

Performance

The Board determined that, because the New Funds had not yet begun investment operations as of the dates of the New Fund Board Meeting, meaningful data relating to the investment performance of the New Funds was not available and, therefore, could not be a factor in approving the New Fund Agreements.

Cost of Services and Profitability

With respect to this factor, the Board considered:

● Global X Management’s expected costs to provide investment management, supervision and administrative and related services to each New Fund;

● the management fee (including the proposed investment advisory fee) (“Management Fee”) that was proposed to be borne by each New Fund under the respective New Fund Agreement for the various investment advisory, supervisory and administrative services that the New Funds require under a unitary fee structure (including the types of fees and expenses that are not included within the unitary fee and would be borne by the New Funds); and

● the expected profitability to Global X Management, if any, from all of the services proposed to be provided to the New Funds by Global X Management and all aspects of the relationship between Global X Management and the New Funds.

Based on these considerations, the Board concluded that the proposed Management Fee to be paid by each New Fund to Global X Management, in light of the nature, extent and quality of the services to be provided, was reasonable and in the best interests of the New Fund’s shareholders.

Comparison of Fees and Services

With respect to this factor, the Board considered:

● comparative information with respect to the proposed Management Fee to be paid to Global X Management by each New Fund. In connection with this consideration, Global X Management provided the Board with comparative expense data for each New Fund, including fees and expenses paid by

199

Approval of Investment Advisory Agreement (Unaudited) (Continued)

unaffiliated similar specialized and/or focused ETFs, and/or other similar registered funds. The Board considered Global X Management’s detailed explanation of the proposed fee structures of any New Fund that was above the average or median for the New Fund’s peer group;

● the structure of the proposed unitary Management Fee (which includes as one component the proposed investment advisory fee for the New Funds) and the expected total expense ratios for the New Funds. In this regard, the Board took into consideration that the purpose of adopting a unitary Management Fee structure for the New Funds was to create a simple, all-inclusive fee that would provide a level of predictability with respect to the overall expense ratios (i.e., the total fees) of the New Funds and that the proposed Management Fee for each New Fund was set at a competitive level to make the New Fund viable in the marketplace; and

● that, under the proposed unified Management Fee structure, Global X Management would be responsible for most ordinary expenses of the New Funds, including the costs of various third-party services required by the New Funds, including investment advisory, administrative, audit, certain custody, portfolio accounting, legal, transfer agency and printing costs, but that each New Fund would bear other expenses not covered under the proposed all-inclusive Management Fee, such as taxes, brokerage fees, commissions, and other transaction expenses, interest expenses, and extraordinary expenses.

Based on these considerations, the Board concluded, at the New Fund Board Meetings, that the services to be received and the fees to be charged under the applicable New Fund Agreements were reasonable on a comparative basis.

Economies of Scale

With respect to this factor, the Board considered:

● the extent to which economies of scale would be realized as the New Funds grow and whether the proposed unitary Management Fees for the New Funds reflected these economies of scale;

● the significant investment of time, personnel and other resources that Global X Management intends to make in the New Funds in order to seek to assure that the New Funds are attractive to investors; and

● that the proposed unitary Management Fee would provide a high level of certainty as to the total level of expenses for each New Fund and its shareholders.

200

Approval of Investment Advisory Agreement (Unaudited) (Concluded)

Based on these considerations, the Board concluded, at the New Fund Board Meetings, that the proposed unitary Management Fees for the New Funds appropriately addressed economies of scale.

Other Benefits

In considering each New Fund Agreement, in addition to the factors discussed above, the Board considered other benefits that may be realized by Global X Management as a result of its relationships with the New Funds. As a result, the Board concluded that, in the case of each New Fund, in the exercise of the Board’s business judgement, all information the Board considered supported approval of the applicable New Fund Agreements.

Conclusion

After full consideration of the factors above, as well as other factors that were instructive in their consideration, the Board, including all of the Trust’s Independent Trustees voting separately, concluded, in the exercise of its business judgement, that the New Fund Agreements were fair and reasonable and in the best interest of the New Funds.

In reaching this decision, the Board did not assign relative weights to the factors above nor did the Board deem any one factor or group of them to be controlling in and of themselves. Each member of the Board may have assigned different weights to the various factors.

201

Liquidity Risk Management Program (Unaudited)

Pursuant to Rule 22e-4 under the 1940 Act, the Funds’ investment adviser has adopted, and the Board has approved, a liquidity risk management program (the “Program”) to govern the Funds’ approach to managing liquidity risk. The Program is overseen by the Funds’ Liquidity Risk Management Committee (the “Committee”), and the Program’s principal objectives include assessing, managing and periodically reviewing each Fund’s liquidity risk, based on factors specific to the circumstances of the Funds.

At a meeting of the Board held on May 20, 2022, the Trustees received a report from the Committee addressing the operations of the Program and assessing its adequacy and effectiveness of implementation for the period from January 1, 2021 through December 31, 2021. The Committee’s report noted that the Committee had determined that the Program is reasonably designed to assess and manage each Fund’s Liquidity Risk and operated adequately and effectively to manage each Fund’s Liquidity Risk for the period covered by the report. The Committee’s report noted that during the period covered by the report, there were no liquidity events that impacted the Funds or their ability to timely meet redemptions without dilution to existing shareholders.

There can be no assurance that the Program will achieve its objectives in the future. Please refer to the prospectus for more information regarding a Fund’s exposure to liquidity risk and other principal risks to which an investment in the Funds may be subject.

202

Supplemental Information (Unaudited)

Net asset value, or “NAV”, is the price per Share at which a Fund issues and redeems Shares. It is calculated in accordance with the standard formula for valuing mutual fund shares. The “Market Price” of a Fund generally is determined using the midpoint between the highest bid and the lowest offer on the stock exchange on which the Shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. The Fund’s Market Price may be at, above or below its NAV. The NAV of a Fund will fluctuate with changes in the market value of the Fund’s holdings. The Market Price of a Fund will fluctuate in accordance with changes in its NAV, as well as market supply and demand.

Premiums or discounts are the differences (expressed as a percentage) between the NAV and Market Price of a Fund on a given day, generally at the time NAV is calculated. A premium is the amount that a Fund is trading above the reported NAV, expressed as a percentage of the NAV. A discount is the amount that a Fund is trading below the reported NAV, expressed as a percentage of the NAV.

Further information regarding premiums and discounts is available on the Funds’ website at www.globalxetfs.com.

203

605 3rd Avenue, 43^rd Floor

New York, NY 10158

1-888-493-8631

www.globalxetfs.com

Investment Adviser and Administrator:

Global X Management Company LLC

605 3rd Avenue, 43^rd Floor

New York, NY 10158

Distributor:

SEI Investments Distribution Co.

One Freedom Valley Drive

Oaks, PA 19456

Sub-Administrator:

SEI Investments Global Funds Services

One Freedom Valley Drive

Oaks, PA 19456

Counsel for Global X Funds and the Independent Trustees:

Stradley Ronon Stevens & Young, LLP

2000 K Street, N.W.

Suite 700

Washington, DC 20006

Custodian and Transfer Agent:

Brown Brothers Harriman & Co.

40 Water Street

Boston, MA 02109

Independent Registered Public Accounting Firm:

PricewaterhouseCoopers LLP

Two Commerce Square

Suite 1800

2001 Market Street

Philadelphia, PA 19103

This information must be preceded or accompanied by a current prospectus for the Funds described.

GLX-SA-007-0700

Item 2. Code of Ethics.

Not applicable for semi-annual report.

Item 3. Audit Committee Financial Expert.

Not applicable for semi-annual report.

Item 4. Principal Accountant Fees and Services.

Not applicable for semi-annual report.

Item 5. Audit Committee of Listed Registrants.

Not applicable for semi-annual report.

Item 6. Investments.

Not applicable.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable to open-end management investment companies.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable to open-end management investment companies.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable to open-end management investment companies.

Item 10. Submission of Matters to a Vote of Security Holders.

There have been no material changes.

Item 11. Controls and Procedures.

(a) The certifying officers, whose certifications are included herewith, have evaluated the registrant’s disclosure controls and procedures within 90 days of the filing date of this report. In their opinion, based on their evaluation, the registrant’s disclosure controls and procedures are adequately designed, and are operating effectively to ensure, that information required to be disclosed by the registrant in the reports it files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.

(b) There were no significant changes in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable to open-end management investment companies.

Item 13. Exhibits.

(a)(1) Not applicable for semi-annual report.

(a)(2) 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 Investment Company Act of 1940, as amended (17 CFR 270.30a-2(a)), are filed herewith.

(b) Officer certifications as required by Rule 30a-2(b) under the Investment Company Act of 1940, as amended (17 CFR 270.30a-2(b)) also accompany this filing as an Exhibit.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)

Global X Funds

By (Signature and Title)

/s/ Luis Berruga

Luis Berruga
President

Date: August 8, 2022

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)

/s/ Luis Berruga

Luis Berruga
President

Date: August 8, 2022

By (Signature and Title)

/s/ John Belanger

John Belanger
Chief Financial Officer

Date: August 8, 2022

	Shares		Value
COMMON STOCK — 99.9%
CANADA — 2.1%
Industrials — 2.1%
ATS Automation Tooling Systems ^*		1,123,673	$	32,985,713


FINLAND — 1.6%
Industrials — 1.6%
Cargotec, Cl B		670,173		24,753,950


ISRAEL — 1.5%
Consumer Discretionary — 1.5%
Maytronics		1,350,874		24,198,452


JAPAN — 36.3%
Communication Services — 0.2%
RPA Holdings ^{* (A)}		1,013,810		3,238,959


Health Care — 0.2%
CYBERDYNE ^{* (A)}		1,616,910		3,883,751


Industrials — 22.2%
Daifuku		1,080,713		68,213,996
FANUC		706,507		115,906,800
Hirata		128,667		4,285,733

	Shares		Value
COMMON STOCK — continued
Industrials — continued
Shibaura Machine		361,684	$	9,207,627
SMC		163,687		84,754,099
Yaskawa Electric		1,999,701		69,716,343
				352,084,598


Information Technology — 13.7%
ACSL ^{* (A)}		293,630		4,307,045
AI inside ^{* (A)}		49,725		1,571,239
Keyence		329,990		132,334,596
Neural Pocket ^{* (A)}		180,270		1,827,293
Omron		1,219,331		70,385,573
PKSHA Technology ^{* (A)}		370,178		6,293,127
				216,718,873


TOTAL JAPAN				575,926,181
NORWAY — 4.5%
Industrials — 4.5%
AutoStore Holdings ^*		29,968,048		71,152,875


SOUTH KOREA — 0.4%
Industrials — 0.4%
Rainbow Robotics ^*		317,526		5,915,757


SWITZERLAND — 12.7%
Health Care — 3.0%
Tecan Group		147,372		47,753,109


Industrials — 9.7%
ABB		5,010,200		153,564,943


TOTAL SWITZERLAND				201,318,052
UNITED KINGDOM — 2.9%
Information Technology — 2.9%
Renishaw		889,370		45,552,387

	Shares		Value
COMMON STOCK — continued
UNITED STATES — 37.9%
Consumer Discretionary — 1.0%
iRobot ^*		341,502	$	16,252,080


Energy — 0.5%
Helix Energy Solutions Group ^*		1,808,130		8,389,723


Financials — 2.5%
Upstart Holdings ^{* (A)}		796,187		40,127,825


Health Care — 12.6%
Azenta		914,511		70,088,123
Intuitive Surgical ^*		564,286		128,454,065
				198,542,188


Industrials — 7.8%
AeroVironment ^*		301,328		27,710,123
AgEagle Aerial Systems ^{* (A)}		1,273,655		993,706
Berkshire Grey ^{* (A)}		2,653,022		5,942,769
John Bean Technologies		387,541		47,183,117
Maxar Technologies ^(A)		887,390		26,512,605
TuSimple Holdings, Cl A ^{* (A)}		1,868,854		15,343,291
				123,685,611


Information Technology — 13.5%
C3.ai, Cl A ^{* (A)}		1,188,193		22,480,611
Cerence ^*		460,954		14,639,899
FARO Technologies ^*		219,501		7,072,322
NVIDIA		898,583		167,783,418
Rekor Systems ^{* (A)}		612,770		1,636,096
				213,612,346


TOTAL UNITED STATES				600,609,773
TOTAL COMMON STOCK
(Cost $1,868,542,821)				1,582,413,140

	Shares/Face Amount		Value
SHORT-TERM INVESTMENT^(B)(C) — 1.9%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.600%
(Cost $30,127,817)		30,127,817	$	30,127,817

REPURCHASE AGREEMENT^(B) — 1.8%
BNP Paribas
0.740%, dated 05/31/2022, to be repurchased on 06/01/2022, repurchase price $27,987,090 (collateralized by various U.S. Treasury Obligations, ranging in par value $490,274 - $3,297,819, 0.250% - 2.750%, 09/30/2025 - 02/15/2028, with a total market value of $28,337,484)
(Cost $27,986,515)	$	27,986,515		27,986,515
TOTAL INVESTMENTS — 103.6%
(Cost $1,926,657,153)			$	1,640,527,472

	Shares		Value
COMMON STOCK — 99.9%
AUSTRIA — 3.0%
Information Technology — 3.0%
ams-OSRAM ^*		617,865	$	7,567,404
Kontron ^(A)		149,125		2,552,804


TOTAL AUSTRIA				10,120,208
CANADA — 0.5%
Information Technology — 0.5%
Sierra Wireless ^*		82,895		1,839,440


CHINA — 2.3%
Information Technology — 2.3%
NXP Semiconductors		41,132		7,805,208


FRANCE — 1.9%
Industrials — 1.9%
Legrand		76,733		6,622,042


ITALY — 0.4%
Information Technology — 0.4%
Datalogic		131,831		1,250,537

Schedules of Investments
Global X Robotics & Artificial Intelligence ETF	1
Global X Internet of Things ETF	5
Global X FinTech ETF	10
Global X Video Games & Esports ETF	16
Global X Autonomous & Electric Vehicles ETF	21
Global X Cloud Computing ETF	28
Global X Data Center REITs & Digital Infrastructure ETF	31
Global X Cybersecurity ETF	34
Global X Artificial Intelligence & Technology ETF	36
Global X Metaverse ETF	43
Global X Millennial Consumer ETF	46
Global X Education ETF	51
Global X Cannabis ETF	54
Global X Genomics & Biotechnology ETF	58
Global X China Biotech Innovation ETF	62
Global X Telemedicine & Digital Health ETF	64
Global X Aging Population ETF	68
Global X Health & Wellness ETF	74
Global X CleanTech ETF	79
Global X U.S. Infrastructure Development ETF	83
Global X Thematic Growth ETF	88
Global X AgTech & Food Innovation ETF	91
Global X Blockchain ETF	95
Global X Clean Water ETF	99
Global X Hydrogen ETF	103
Global X Solar ETF	106
Global X Wind Energy ETF	110
Global X Green Building ETF	114
Statements of Assets and Liabilities	120
Statements of Operations	127
Statements of Changes in Net Assets	134
Financial Highlights	148
Notes to Financial Statements	162
Disclosure of Fund Expenses	193
Approval of Investment Advisory Agreement	197
Liquidity Risk Management Program	202
Supplemental Information	203

		Share/Face Amount		Value
SHORT-TERM INVESTMENT^(B)(C) — 3.1%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.600%
(Cost $8,251,730)		8,251,730	$	8,251,730

REPURCHASE AGREEMENT^(B) — 2.9%
BNP Paribas
0.740%, dated 05/31/2022, to be repurchased on 06/01/2022, repurchase price $7,602,045 (collateralized by various U.S. Treasury Obligations, ranging in par value $133,171 - $895,776, 0.250% - 2.750%, 09/30/2025 - 02/15/2028, with a total market value of $7,697,220)
(Cost $7,601,889)	$	7,601,889		7,601,889
TOTAL INVESTMENTS — 105.9%
(Cost $395,232,823)			$	279,358,243

	Shares		Value
COMMON STOCK — 98.5%
AUSTRALIA — 3.2%
Information Technology — 0.5%
Novonix ^*		1,889,735	$	5,544,409


Materials — 2.7%
Allkem ^*		1,674,525		16,468,729
Pilbara Minerals ^*		5,394,418		11,415,570
				27,884,299


TOTAL AUSTRALIA				33,428,708
CANADA — 2.6%
Industrials — 0.8%
Ballard Power Systems ^{* (A)}		1,202,802		8,744,371


Information Technology — 0.9%
BlackBerry ^{* (A)}		1,501,938		9,086,725


Materials — 0.9%
Standard Lithium ^{* (A)}		1,662,398		9,778,425


TOTAL CANADA				27,609,521
CHILE — 3.9%
Materials — 3.9%
Lundin Mining		1,583,483		14,096,548

	Shares/Face Amount		Value
SHORT-TERM INVESTMENT^(C)(D) — 3.4%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.600%
(Cost $35,945,759)		35,945,759	$	35,945,759

REPURCHASE AGREEMENT^(C) — 3.1%
BNP Paribas
0.740%, dated 05/31/2022, to be repurchased on 06/01/2022, repurchase price $32,958,701 (collateralized by various U.S. Treasury Obligations, ranging in par value $577,365 - $3,883,642, 0.250% - 2.750%, 09/30/2025 - 02/15/2028, with a total market value of $33,371,339)
(Cost $32,958,024)	$	32,958,024		32,958,024
TOTAL INVESTMENTS — 106.4%
(Cost $1,329,709,398)			$	1,125,133,736

*	Non-income producing security.
(A)	This security or a partial position of this security is on loan at May 31, 2022. The total value of securities on loan at May 31, 2022 was $64,798,120.
(B)	There is currently no stated interest rate.
(C)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2022 was $68,903,783.
(D)	The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2022.

	Face Amount		Value
U.S. TREASURY OBLIGATION — 9.8%
U.S Treasury Bill
0.495%, 06/02/22^(A)
(Cost $8,099,889)	$	8,100,000	$	8,099,911
TOTAL INVESTMENTS — 109.7%
(Cost $97,193,279)			$	90,693,656

	Shares/Number of Rights/Face Amount		Value
COMMON STOCK — continued
Information Technology — continued
Zscaler ^*		5,586	$	855,161
				75,459,655


TOTAL UNITED STATES				104,931,332
TOTAL COMMON STOCK
(Cost $192,329,218)				151,560,895

RIGHTS — 0.0%
Taiwan — 0.0%
Acer#^*		1,312		—

TOTAL RIGHTS (Cost $–)				—

SHORT-TERM INVESTMENT^(B)(C) — 0.8%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 0.600%
(Cost $1,164,400)		1,164,400		1,164,400

REPURCHASE AGREEMENT^(B) — 0.7%
BNP Paribas
0.740%, dated 05/31/2022, to be repurchased on 06/01/2022, repurchase price $1,081,663 (collateralized by various U.S. Treasury Obligations, ranging in par value $18,948 - $127,456, 0.250% - 2.750%, 09/30/2025 - 02/15/2028, with a total market value of $1,095,204)
(Cost $1,081,641)	$	1,081,641		1,081,641
TOTAL INVESTMENTS — 101.3%
(Cost $194,575,259)			$	153,806,936

*	Non-income producing security.
#	Expiration date not available.
(A)	This security or a partial position of this security is on loan at May 31, 2022. The total value of securities on loan at May 31, 2022 was $2,209,114.
(B)	Security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2022 was $2,246,041.
(C)	The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2022.

	Face Amount		Value
REPURCHASE AGREEMENT^(B) — 0.1%
BNP Paribas
0.740%, dated 05/31/2022, to be repurchased on 06/01/2022, repurchase price $120,984 (collateralized by various U.S. Treasury Obligations, ranging in par value $2,119 - $14,256, 0.250% - 2.750%, 09/30/2025 - 02/15/2028, with a total market value of $122,500)
(Cost $120,982)	$	120,982	$	120,982
TOTAL INVESTMENTS — 100.1%
(Cost $173,164,867)			$	121,395,798

	Shares		Value
COMMON STOCK — continued
UNITED STATES — 64.0%
Communication Services — 0.2%
Globalstar ^{* (A)}		645,662	$	903,927


Consumer Discretionary — 9.9%
ADT		1,734,163		12,971,539
Garmin		170,858		18,046,022
Vivint Smart Home ^*		471,568		2,810,545
				33,828,106


Health Care — 5.0%
Dexcom ^*		56,897		16,951,892


Industrials — 15.5%
Emerson Electric		85,311		7,563,673
Honeywell International		37,692		7,297,925
Johnson Controls International		121,318		6,613,044
Resideo Technologies ^*		44,197		1,043,933
Rockwell Automation		28,309		6,035,479
Schneider Electric ^(A)		50,314		6,955,103
Sensata Technologies Holding		358,159		17,202,377
				52,711,534


Information Technology — 33.4%
Alarm.com Holdings ^*		112,807		7,132,787
Ambarella ^*		81,612		6,954,975
Analog Devices		49,391		8,317,444
Badger Meter		65,899		5,215,247
Belden		101,144		5,823,872
Cisco Systems		151,999		6,847,555
Digi International ^*		76,476		1,690,120
Impinj ^*		53,773		2,517,114
InterDigital		69,587		4,543,335
International Business Machines		55,237		7,669,105

	Shares		Value
COMMON STOCK — continued
Health Care — 1.8%
HealthEquity ^*		202,786	$	12,690,348


Information Technology — 56.6%
Affirm Holdings, Cl A ^{* (A)}		358,883		10,228,165
Bill.com Holdings ^*		202,335		23,924,090
Black Knight ^*		380,854		25,863,795
Block, Cl A ^*		492,548		43,102,875
Boku ^*		1,449,181		1,945,124
Envestnet ^*		132,336		8,816,224
Fidelity National Information Services		457,459		47,804,466
Fiserv ^*		616,407		61,751,653
Flywire ^*		173,650		3,353,182
GreenBox POS ^{* (A)}		265,858		699,207
Guidewire Software ^*		202,221		16,165,547
Intuit		139,787		57,936,120
Marathon Digital Holdings ^{* (A)}		239,105		2,446,044
MeridianLink ^{* (A)}		140,910		2,512,425
Mitek Systems ^*		173,457		1,564,582
nCino ^*		232,087		7,582,282
Paymentus Holdings, Cl A ^*		95,286		1,447,394
Payoneer Global ^*		595,224		2,982,072
PayPal Holdings ^*		232,806		19,837,399
Paysafe ^*		1,271,987		3,472,525
Riot Blockchain ^{* (A)}		229,850		1,652,622
Shift4 Payments, Cl A ^*		104,947		4,790,831
SS&C Technologies Holdings		621,988		39,801,012
Toast, Cl A ^*		129,598		2,104,672
Vertex, Cl A ^*		151,614		1,676,851
				393,461,159


TOTAL UNITED STATES				469,462,914
URUGUAY — 1.1%
Information Technology — 1.1%
Dlocal, Cl A ^*		262,279		7,561,504