Global X Funds

Global X MLP ETF

Ticker: MLPA

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X MLP ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/mlpa. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X MLP ETF	$28	0.52%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$2,102,686,276	20	$4,599,133	2.85%

What did the Fund invest in?

Sector Weightings^{Footnote
Reference*}

Table Summary
Value	Value
Utilities	3.4%
Energy	105.6%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
Energy Transfer			14.9%
Enterprise Products Partners			13.2%
MPLX			12.4%
Plains All American Pipeline			12.0%
Western Midstream Partners			10.9%
Hess Midstream, Cl A			9.4%
Sunoco			9.2%
Cheniere Energy Partners			6.6%
USA Compression Partners			6.0%
Genesis Energy^{Footnote Reference**}			4.5%

Footnote	Description
Footnote^**	Affiliated Investment.

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/mlpa

GX-SA-MLPA-2026

Global X Funds

Global X MLP & Energy Infrastructure ETF

Ticker: MLPX

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X MLP & Energy Infrastructure ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/mlpx. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X MLP & Energy Infrastructure ETF	$25	0.45%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$3,406,960,311	31	$6,855,368	4.66%

What did the Fund invest in?

Asset/Country Weightings^{Footnote
Reference*}

Table Summary
Value	Value
Short-Term Investment	1.0%
U.S. Treasury Obligations	4.4%
Canada	25.3%
United States	74.5%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets^{Footnote Reference(A)}
TC Energy			9.3%
Enbridge			9.2%
Williams			8.7%
Kinder Morgan			7.9%
ONEOK			6.8%
Targa Resources			6.5%
MPLX			4.7%
Pembina Pipeline			4.5%
Energy Transfer			4.5%
Enterprise Products Partners			4.4%

Footnote	Description
Footnote^(A)	Short-Term Investments are not shown in the top ten holdings.

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/mlpx

GX-SA-MLPX-2026

Global X Funds

Global X Alternative Income ETF

Ticker: ALTY

Principal Listing Exchange: Nasdaq

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X Alternative Income ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/alty/. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X Alternative Income ETF	$26	0.50%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$44,288,621	19	$107,534	3.38%

What did the Fund invest in?

Asset/Sector Weightings^{Footnote
Reference*}

Table Summary
Value	Value
Exchange-Traded Funds	81.0%
Utilities	6.7%
Energy	12.2%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
Global X SuperDividend^® REIT ETF^{Footnote Reference**}			20.7%
Global X Nasdaq 100^® Covered Call ETF^{Footnote Reference**}			20.4%
Global X U.S. Preferred ETF^{Footnote Reference**}			20.0%
Global X Emerging Markets Bond ETF^{Footnote Reference**}			19.9%
Northwestern Energy Group			1.4%
Brookfield Infrastructure, Cl A			1.4%
Avista			1.4%
Energy Transfer			1.3%
Sunoco			1.3%
Edison International			1.3%

Footnote	Description
Footnote^**	Affiliated Investment.

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/alty/

GX-SA-ALTY-2026

Global X Funds

Global X Conscious Companies ETF

Ticker: KRMA

Principal Listing Exchange: Nasdaq

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X Conscious Companies ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/krma/. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X Conscious Companies ETF	$23	0.43%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$119,763,591	143	$254,688	9.01%

What did the Fund invest in?

Sector Weightings^{Footnote
Reference*}

Table Summary
Value	Value
Utilities	0.9%
Materials	1.6%
Real Estate	1.9%
Energy	1.9%
Consumer Staples	3.4%
Industrials	6.0%
Health Care	8.6%
Communication Services	9.6%
Consumer Discretionary	10.7%
Financials	11.3%
Information Technology	44.0%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
NVIDIA			6.9%
Apple			6.0%
Alphabet, Cl A			5.1%
Microsoft			4.1%
Amazon.com			3.1%
Broadcom			2.3%
Meta Platforms, Cl A			1.2%
Micron Technology			1.0%
Dell Technologies, Cl C			1.0%
QUALCOMM			0.9%

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/krma/

GX-SA-KRMA-2026

Global X Funds

Global X U.S. Preferred ETF

Ticker: PFFD

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X U.S. Preferred ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/pffd/. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X U.S. Preferred ETF	$12	0.23%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$2,173,453,637	225	$2,525,781	15.87%

What did the Fund invest in?

Asset/Sector Weightings^{Footnote
Reference*}

Table Summary
Value	Value
Short-Term Investment	0.4%
Energy	0.3%
Health Care	0.9%
Consumer Discretionary	1.5%
Real Estate	4.0%
Communication Services	5.4%
Industrials	5.5%
Information Technology	6.0%
Utilities	15.8%
Financials	60.1%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets^{Footnote Reference(A)}
Boeing			4.7%
Hewlett Packard Enterprise			2.7%
Wells Fargo			2.2%
Citigroup Capital XIII			2.2%
Microchip Technology			1.8%
NextEra Energy			1.7%
KKR			1.7%
Southern			1.6%
Bank of America			1.3%
NextEra Energy			1.2%

Footnote	Description
Footnote^(A)	Short-Term Investments are not shown in the top ten holdings.

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/pffd/

GX-SA-PFFD-2026

Global X Funds

Global X S&P 500^® Quality Dividend ETF

Ticker: QDIV

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X S&P 500^® Quality Dividend ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/qdiv/. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X S&P 500^® Quality Dividend ETF	$10	0.20%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$32,725,253	53	$31,854	40.92%

What did the Fund invest in?

Sector Weightings^{Footnote
Reference*}

Table Summary
Value	Value
Communication Services	3.5%
Consumer Discretionary	4.5%
Financials	6.9%
Information Technology	8.4%
Energy	11.5%
Materials	12.1%
Health Care	14.4%
Industrials	16.4%
Consumer Staples	22.0%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
Cisco Systems			2.7%
CF Industries Holdings			2.6%
Valero Energy			2.5%
QUALCOMM			2.5%
SLB			2.4%
Target			2.4%
Marathon Petroleum			2.3%
Merck			2.2%
Chevron			2.2%
EOG Resources			2.1%

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/qdiv/

GX-SA-QDIV-2026

Global X Funds

Global X Adaptive U.S. Factor ETF

Ticker: AUSF

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X Adaptive U.S. Factor ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/ausf/. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X Adaptive U.S. Factor ETF	$14	0.27%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$848,041,099	196	$1,101,640	39.60%

What did the Fund invest in?

Asset/Sector Weightings^{Footnote
Reference*}

Table Summary
Value	Value
Short-Term Investment	0.8%
Real Estate	2.7%
Energy	3.1%
Materials	3.2%
Utilities	4.4%
Consumer Staples	7.8%
Communication Services	8.6%
Consumer Discretionary	9.2%
Health Care	11.4%
Information Technology	12.8%
Industrials	15.3%
Financials	21.3%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets^{Footnote Reference(A)}
Verizon Communications			2.0%
Cisco Systems			2.0%
AT&T			1.9%
Royalty Pharma, Cl A			1.7%
CBOE Global Markets			1.6%
Microsoft			1.5%
Linde PLC			1.5%
TXNM Energy			1.5%
Chart Industries			1.5%
Johnson & Johnson			1.5%

Footnote	Description
Footnote^(A)	Short-Term Investments are not shown in the top ten holdings.

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/ausf/

GX-SA-AUSF-2026

Global X Funds

Global X Variable Rate Preferred ETF

Ticker: PFFV

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X Variable Rate Preferred ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/pffv/. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X Variable Rate Preferred ETF	$13	0.25%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$306,288,626	54	$372,229	26.39%

What did the Fund invest in?

Sector Weightings^{Footnote
Reference*}

Table Summary
Value	Value
Energy	1.6%
Utilities	2.9%
Consumer Staples	4.6%
Financials	90.5%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
Morgan Stanley			4.3%
Reinsurance Group of America			3.5%
Apollo Global Management			3.1%
KeyCorp			3.1%
Bank of America			2.9%
Jackson Financial			2.9%
Goldman Sachs Group			2.9%
US Bancorp			2.8%
MetLife			2.7%
Allstate			2.6%

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/pffv/

GX-SA-PFFV-2026

Global X Funds

Global X Adaptive U.S. Risk Management ETF

Ticker: ONOF

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X Adaptive U.S. Risk Management ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/onof. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X Adaptive U.S. Risk Management ETF	$20	0.39%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$144,055,434	505	$279,015	204.67%

What did the Fund invest in?

Asset/Sector Weightings^{Footnote
Reference*}

Table Summary
Value	Value
Short-Term Investment^{Footnote Reference**}	0.0%
Exchange-Traded Fund	1.9%
Real Estate	1.6%
Materials	1.9%
Utilities	2.0%
Energy	3.1%
Consumer Staples	4.3%
Health Care	8.2%
Industrials	8.4%
Consumer Discretionary	9.7%
Communication Services	10.5%
Financials	10.7%
Information Technology	37.6%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.
Footnote**	Amount is less than 0.05%.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets^{Footnote Reference(A)}
NVIDIA			7.4%
Apple			6.7%
Microsoft			4.9%
Amazon.com			3.9%
Alphabet, Cl A			3.3%
Broadcom			3.1%
Alphabet, Cl C			2.9%
Tesla			2.2%
Meta Platforms, Cl A			2.1%
BNY Mellon US Large Cap Core Equity ETF			1.9%

Footnote	Description
Footnote^(A)	Short-Term Investments are not shown in the top ten holdings.

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/onof

GX-SA-ONOF-2026

Global X Funds

Global X 1-3 Month T-Bill ETF

Ticker: CLIP

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X 1-3 Month T-Bill ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/clip. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X 1-3 Month T-Bill ETF	$4	0.07%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$2,841,960,337	28	$798,693	0.00%

What did the Fund invest in?

Asset Weightings^{Footnote
Reference*}

Table Summary
Value	Value
Repurchase Agreements^{Footnote Reference**}	0.0%
U.S. Treasury Obligations	104.8%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.
Footnote**	Amount is less than 0.05%.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets^{Footnote Reference(A)}
U.S. Treasury Bills, 3.63%, 07/09/2026			9.5%
U.S. Treasury Bills, 1.49%, 08/06/2026			9.0%
U.S. Treasury Bills, 3.62%, 07/23/2026			7.4%
U.S. Treasury Bills, 3.26%, 07/30/2026			7.1%
U.S. Treasury Bills, 3.63%, 07/02/2026			6.3%
U.S. Treasury Bills, 1.30%, 08/13/2026			5.5%
U.S. Treasury Bills, 3.63%, 07/16/2026			5.3%
U.S. Treasury Bills, 3.63%, 06/02/2026			5.1%
U.S. Treasury Bills, 1.48%, 07/28/2026			4.1%
U.S. Treasury Bills, 2.93%, 08/27/2026			3.8%

Footnote	Description
Footnote^(A)	Repurchase Agreements are not shown in the top ten holdings.

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/clip

GX-SA-CLIP-2026

Global X Funds

Global X U.S. Cash Flow Kings 100 ETF

Ticker: FLOW

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X U.S. Cash Flow Kings 100 ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/flow. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X U.S. Cash Flow Kings 100 ETF	$13	0.25%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$28,645,794	100	$34,002	49.78%

What did the Fund invest in?

Sector Weightings^{Footnote
Reference*}

Table Summary
Value	Value
Real Estate	1.7%
Materials	2.3%
Energy	8.3%
Industrials	8.5%
Consumer Staples	8.6%
Health Care	9.3%
Communication Services	9.5%
Consumer Discretionary	24.6%
Information Technology	27.1%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
QUALCOMM			3.5%
Ford Motor			2.7%
HP			2.4%
Delta Air Lines			2.3%
Archer-Daniels-Midland			2.2%
Kraft Heinz			2.0%
Fox, Cl A			2.0%
DR Horton			2.0%
Altria Group			1.9%
Adobe			1.9%

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/flow

GX-SA-FLOW-2026

Global X Funds

Global X Short-Term Treasury Ladder ETF

Ticker: SLDR

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X Short-Term Treasury Ladder ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/sldr/. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X Short-Term Treasury Ladder ETF	$6	0.12%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$39,404,949	83	$23,691	59.07%

What did the Fund invest in?

Asset Weightings^{Footnote
Reference*}

Table Summary
Value	Value
U.S. Treasury Obligations	98.9%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
U.S. Treasury Notes, 3.75%, 04/15/2028			3.0%
U.S. Treasury Notes, 3.88%, 07/31/2027			2.9%
U.S. Treasury Notes, 4.63%, 09/30/2028			2.9%
U.S. Treasury Notes, 3.63%, 08/15/2028			2.9%
U.S. Treasury Notes, 3.88%, 03/31/2027			2.8%
U.S. Treasury Notes, 2.63%, 05/31/2027			2.8%
U.S. Treasury Notes, 3.75%, 04/30/2028			2.5%
U.S. Treasury Notes, 3.50%, 10/31/2027			2.4%
U.S. Treasury Notes, 4.13%, 09/30/2027			2.4%
U.S. Treasury Notes, 3.75%, 05/15/2028			2.4%

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/sldr/

GX-SA-SLDR-2026

Global X Funds

Global X Intermediate-Term Treasury Ladder ETF

Ticker: MLDR

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X Intermediate-Term Treasury Ladder ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/mldr/. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X Intermediate-Term Treasury Ladder ETF	$6	0.12%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$8,779,411	63	$5,309	32.54%

What did the Fund invest in?

Asset Weightings^{Footnote
Reference*}

Table Summary
Value	Value
U.S. Treasury Obligations	98.8%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
U.S. Treasury Notes, 4.25%, 11/15/2034			4.5%
U.S. Treasury Notes, 3.88%, 08/15/2034			4.5%
U.S. Treasury Notes, 4.25%, 08/15/2035			4.2%
U.S. Treasury Notes, 4.50%, 05/31/2029			4.0%
U.S. Treasury Notes, 4.50%, 11/15/2033			3.8%
U.S. Treasury Notes, 4.13%, 02/15/2036			3.7%
U.S. Treasury Notes, 3.38%, 05/15/2033			3.6%
U.S. Treasury Notes, 4.25%, 05/15/2035			3.6%
U.S. Treasury Notes, 4.25%, 01/31/2030			3.4%
U.S. Treasury Notes, 4.63%, 05/31/2031			3.0%

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/mldr/

GX-SA-MLDR-2026

Global X Funds

Global X Long-Term Treasury Ladder ETF

Ticker: LLDR

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X Long-Term Treasury Ladder ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/lldr/. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X Long-Term Treasury Ladder ETF	$6	0.12%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$35,727,192	97	$21,279	10.97%

What did the Fund invest in?

Asset Weightings^{Footnote
Reference*}

Table Summary
Value	Value
U.S. Treasury Obligations	98.8%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
U.S. Treasury Bonds, 4.50%, 05/15/2038			3.3%
U.S. Treasury Bonds, 5.00%, 05/15/2037			2.6%
U.S. Treasury Bonds, 4.38%, 02/15/2038			2.5%
U.S. Treasury Bonds, 4.38%, 11/15/2039			2.2%
U.S. Treasury Bonds, 3.00%, 08/15/2052			2.3%
U.S. Treasury Bonds, 3.00%, 02/15/2049			2.3%
U.S. Treasury Bonds, 3.50%, 02/15/2039			2.1%
U.S. Treasury Bonds, 2.25%, 08/15/2046			2.0%
U.S. Treasury Bonds, 4.75%, 02/15/2056			1.9%
U.S. Treasury Bonds, 4.25%, 11/15/2040			1.9%

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/lldr/

GX-SA-LLDR-2026

Global X Funds

Global X PureCap℠ MSCI Communication Services ETF

Ticker: GXPC

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X PureCap℠ MSCI Communication Services ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/gxpc. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X PureCap℠ MSCI Communication Services ETF	$8	0.15%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$93,678,864	26	$55,620	53.97%

What did the Fund invest in?

Asset/Sector Weightings^{Footnote
Reference*}

Table Summary
Value	Value
Exchange-Traded Funds	0.5%
U.S. Treasury Obligations	29.6%
Communication Services	99.4%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
Alphabet, Cl A			31.9%
U.S. Treasury Bills, 3.64%, 06/30/2026			29.6%
Alphabet, Cl C			26.1%
Meta Platforms, Cl A			20.3%
Netflix			5.3%
Verizon Communications			2.9%
Walt Disney			2.6%
AT&T			2.5%
T-Mobile US			1.4%
Comcast, Cl A			1.3%

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/gxpc

GX-SA-GXPC-2026

Global X Funds

Global X PureCap℠ MSCI Consumer Discretionary ETF

Ticker: GXPD

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X PureCap℠ MSCI Consumer Discretionary ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/gxpd. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X PureCap℠ MSCI Consumer Discretionary ETF	$8	0.15%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$46,823,129	51	$19,828	12.87%

What did the Fund invest in?

Asset/Sector Weightings^{Footnote
Reference*}

Table Summary
Value	Value
Exchange-Traded Fund	4.7%
U.S. Treasury Obligations	27.5%
Consumer Discretionary	90.5%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
Amazon.com			31.6%
U.S. Treasury Bills, 3.64%, 06/30/2026			27.5%
Tesla			19.2%
Home Depot			5.0%
Direxion Daily AMZN Bull 2X Shares			4.7%
McDonald's			3.1%
TJX			2.7%
Booking Holdings			2.1%
Lowe's			1.9%
Starbucks			1.8%

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/gxpd

GX-SA-GXPD-2026

Global X Funds

Global X PureCap℠ MSCI Consumer Staples ETF

Ticker: GXPS

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X PureCap℠ MSCI Consumer Staples ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/gxps. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X PureCap℠ MSCI Consumer Staples ETF	$8	0.15%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$59,860,165	32	$33,079	5.34%

What did the Fund invest in?

Asset/Sector Weightings^{Footnote
Reference*}

Table Summary
Value	Value
Exchange-Traded Fund	1.5%
U.S. Treasury Obligations	29.8%
Consumer Staples	98.5%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
U.S. Treasury Bills, 3.64%, 06/30/2026			29.8%
Walmart			17.3%
Costco Wholesale			14.5%
Procter & Gamble			11.4%
Coca-Cola			10.5%
Philip Morris International			9.5%
PepsiCo			6.3%
Altria Group			4.0%
Mondelez International, Cl A			2.6%
Colgate-Palmolive			2.3%

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/gxps

GX-SA-GXPS-2026

Global X Funds

Global X PureCap℠ MSCI Energy ETF

Ticker: GXPE

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X PureCap℠ MSCI Energy ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/gxpe. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X PureCap℠ MSCI Energy ETF	$8	0.15%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$1,973,644	24	$918	2.16%

What did the Fund invest in?

Asset/Sector Weightings^{Footnote
Reference*}

Table Summary
Value	Value
Exchange-Traded Fund	0.2%
U.S. Treasury Obligations	30.8%
Energy	99.5%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
U.S. Treasury Bills, 3.64%, 06/30/2026			30.8%
Exxon Mobil			29.0%
Chevron			16.2%
ConocoPhillips			6.7%
Williams			4.2%
SLB			3.9%
Marathon Petroleum			3.5%
Valero Energy			3.5%
EOG Resources			3.4%
Phillips 66			3.4%

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/gxpe

GX-SA-GXPE-2026

Global X Funds

Global X PureCap℠ MSCI Information Technology ETF

Ticker: GXPT

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X PureCap℠ MSCI Information Technology ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/gxpt. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X PureCap℠ MSCI Information Technology ETF	$8	0.15%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$101,387,807	89	$52,487	8.18%

What did the Fund invest in?

Asset/Sector Weightings^{Footnote
Reference*}

Table Summary
Value	Value
Exchange-Traded Fund	1.0%
U.S. Treasury Obligations	27.8%
Information Technology	98.1%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
U.S. Treasury Bills, 3.64%, 06/30/2026			27.8%
NVIDIA			19.6%
Apple			18.4%
Microsoft			12.8%
Broadcom			6.2%
Micron Technology			4.4%
Advanced Micro Devices			3.4%
Intel			2.0%
Cisco Systems			1.9%
Lam Research			1.6%

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/gxpt

GX-SA-GXPT-2026

Global X Funds

Global X U.S. 500 ETF

Ticker: GXLC

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X U.S. 500 ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/gxlc. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X U.S. 500 ETF	$1	0.02%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$4,550,597	501	$415	2.80%

What did the Fund invest in?

Sector Weightings^{Footnote
Reference*}

Table Summary
Value	Value
Real Estate	1.6%
Materials	1.9%
Utilities	2.1%
Energy	3.2%
Consumer Staples	4.4%
Health Care	8.4%
Industrials	8.5%
Consumer Discretionary	9.9%
Communication Services	10.7%
Financials	10.9%
Information Technology	38.2%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
NVIDIA			7.5%
Apple			6.8%
Microsoft			5.0%
Amazon.com			4.0%
Alphabet, Cl A			3.4%
Broadcom			3.2%
Alphabet, Cl C			2.9%
Tesla			2.2%
Meta Platforms, Cl A			2.1%
Micron Technology			1.7%

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/gxlc

GX-SA-GXLC-2026

Global X Funds

Global X U.S. Natural Gas ETF

Ticker: LNGX

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X U.S. Natural Gas ETF (the "Fund") for the period from December 1, 2025 to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/lngx. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Global X U.S. Natural Gas ETF	$24	0.45%^{Footnote Reference*}

Footnote	Description
Footnote*	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$53,054,428	35	$75,526	16.92%

What did the Fund invest in?

Sector Weightings^{Footnote
Reference*}

Table Summary
Value	Value
Utilities	3.1%
Energy	96.9%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Ten Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
Expand Energy			8.1%
EQT			8.1%
Ovintiv			6.8%
Antero Resources			4.6%
Occidental Petroleum			4.1%
Diamondback Energy			4.1%
APA			4.0%
EOG Resources			4.0%
Permian Resources, Cl A			4.0%
Cheniere Energy			4.0%

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/lngx

GX-SA-LNGX-2026

Global X Funds

Global X Zero Coupon Bond 2030 ETF

Ticker: ZCBA

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X Zero Coupon Bond 2030 ETF (the "Fund") for the period from January 6, 2026 (commencement of operations) to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/zcba. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the period?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment^{Footnote Reference*}	Costs paid as a percentage of a $10,000 investment
Global X Zero Coupon Bond 2030 ETF	$3	0.07%^{Footnote Reference†}

Footnote	Description
Footnote*	Costs shown not annualized. If the Fund had been open for the full semi-annual period, costs would have been higher.
Footnote†	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$494,027	4	$142	100.45%

What did the Fund invest in?

Asset Weightings^{Footnote
Reference*}

Table Summary
Value	Value
U.S. Treasury Obligations	99.8%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
U.S. Treasury STRIPS, 0.00%, 08/15/2030			25.2%
U.S. Treasury STRIPS, 0.00%, 05/15/2030			24.9%
U.S. Treasury STRIPS, 0.00%, 11/15/2030			24.9%
U.S. Treasury STRIPS, 0.00%, 02/15/2030			24.8%

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/zcba

GX-SA-ZCBA-2026

Global X Funds

Global X Zero Coupon Bond 2031 ETF

Ticker: ZCBB

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X Zero Coupon Bond 2031 ETF (the "Fund") for the period from January 6, 2026 (commencement of operations) to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/zcbb. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the period?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment^{Footnote Reference*}	Costs paid as a percentage of a $10,000 investment
Global X Zero Coupon Bond 2031 ETF	$3	0.07%^{Footnote Reference†}

Footnote	Description
Footnote*	Costs shown not annualized. If the Fund had been open for the full semi-annual period, costs would have been higher.
Footnote†	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$493,946	4	$224	1.29%

What did the Fund invest in?

Asset Weightings^{Footnote
Reference*}

Table Summary
Value	Value
U.S. Treasury Obligations	99.6%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
U.S. Treasury STRIPS, 0.00%, 08/15/2031			25.7%
U.S. Treasury STRIPS, 0.00%, 11/15/2031			24.8%
U.S. Treasury STRIPS, 0.00%, 05/15/2031			24.7%
U.S. Treasury STRIPS, 0.00%, 02/15/2031			24.4%

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/zcbb

GX-SA-ZCBB-2026

Global X Funds

Global X Zero Coupon Bond 2032 ETF

Ticker: ZCBC

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X Zero Coupon Bond 2032 ETF (the "Fund") for the period from January 6, 2026 (commencement of operations) to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/zcbc. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the period?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment^{Footnote Reference*}	Costs paid as a percentage of a $10,000 investment
Global X Zero Coupon Bond 2032 ETF	$3	0.07%^{Footnote Reference†}

Footnote	Description
Footnote*	Costs shown not annualized. If the Fund had been open for the full semi-annual period, costs would have been higher.
Footnote†	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$494,955	4	$225	1.29%

What did the Fund invest in?

Asset Weightings^{Footnote
Reference*}

Table Summary
Value	Value
U.S. Treasury Obligations	99.6%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
U.S. Treasury STRIPS, 0.00%, 11/15/2032			25.5%
U.S. Treasury STRIPS, 0.00%, 05/15/2032			25.3%
U.S. Treasury STRIPS, 0.00%, 08/15/2032			24.6%
U.S. Treasury STRIPS, 0.00%, 02/15/2032			24.2%

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/zcbc

GX-SA-ZCBC-2026

Global X Funds

Global X Zero Coupon Bond 2033 ETF

Ticker: ZCBE

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X Zero Coupon Bond 2033 ETF (the "Fund") for the period from January 6, 2026 (commencement of operations) to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/zcbe. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the period?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment^{Footnote Reference*}	Costs paid as a percentage of a $10,000 investment
Global X Zero Coupon Bond 2033 ETF	$3	0.07%^{Footnote Reference†}

Footnote	Description
Footnote*	Costs shown not annualized. If the Fund had been open for the full semi-annual period, costs would have been higher.
Footnote†	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$494,975	4	$225	1.38%

What did the Fund invest in?

Asset Weightings^{Footnote
Reference*}

Table Summary
Value	Value
U.S. Treasury Obligations	99.6%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
U.S. Treasury STRIPS, 0.00%, 11/15/2033			25.4%
U.S. Treasury STRIPS, 0.00%, 08/15/2033			25.3%
U.S. Treasury STRIPS, 0.00%, 02/15/2033			24.7%
U.S. Treasury STRIPS, 0.00%, 05/15/2033			24.2%

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/zcbe

GX-SA-ZCBE-2026

Global X Funds

Global X Zero Coupon Bond 2034 ETF

Ticker: ZCBF

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X Zero Coupon Bond 2034 ETF (the "Fund") for the period from January 6, 2026 (commencement of operations) to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/zcbf. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the period?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment^{Footnote Reference*}	Costs paid as a percentage of a $10,000 investment
Global X Zero Coupon Bond 2034 ETF	$3	0.07%^{Footnote Reference†}

Footnote	Description
Footnote*	Costs shown not annualized. If the Fund had been open for the full semi-annual period, costs would have been higher.
Footnote†	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$494,439	4	$224	1.39%

What did the Fund invest in?

Asset Weightings^{Footnote
Reference*}

Table Summary
Value	Value
U.S. Treasury Obligations	99.6%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
U.S. Treasury STRIPS, 0.00%, 08/15/2034			25.4%
U.S. Treasury STRIPS, 0.00%, 11/15/2034			25.0%
U.S. Treasury STRIPS, 0.00%, 02/15/2034			24.6%
U.S. Treasury STRIPS, 0.00%, 05/15/2034			24.6%

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/zcbf

GX-SA-ZCBF-2026

Global X Funds

Global X Zero Coupon Bond 2035 ETF

Ticker: ZCBG

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

This semi-annual shareholder report contains important information about the Global X Zero Coupon Bond 2035 ETF (the "Fund") for the period from January 6, 2026 (commencement of operations) to May 31, 2026. You can find additional information about the Fund at https://www.globalxetfs.com/funds/zcbg. You can also request this information by contacting us at 1-888-493-8631.

What were the Fund costs for the period?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Costs of a $10,000 investment^{Footnote Reference*}	Costs paid as a percentage of a $10,000 investment
Global X Zero Coupon Bond 2035 ETF	$3	0.07%^{Footnote Reference†}

Footnote	Description
Footnote*	Costs shown not annualized. If the Fund had been open for the full semi-annual period, costs would have been higher.
Footnote†	Annualized.

Key Fund Statistics as of May 31, 2026

Table Summary
	Total Net Assets	Number of Portfolio Holdings	Total Advisory Fees Paid	Portfolio Turnover Rate
	$494,744	4	$208	1.87%

What did the Fund invest in?

Asset Weightings^{Footnote
Reference*}

Table Summary
Value	Value
U.S. Treasury Obligations	99.6%

Footnote	Description
Footnote*	Percentages are calculated based on total net assets.

Top Holdings

Table Summary
Holding Name			Percentage of Total Net Assets
U.S. Treasury STRIPS, 0.00%, 08/15/2035			25.3%
U.S. Treasury STRIPS, 0.00%, 05/15/2035			25.2%
U.S. Treasury STRIPS, 0.00%, 11/15/2035			24.7%
U.S. Treasury STRIPS, 0.00%, 02/15/2035			24.4%

Additional Information

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

1-888-493-8631
https://www.globalxetfs.com/funds/zcbg

GX-SA-ZCBG-2026

Financial Statements (Form N-CSRS Item 7)
Schedules of Investments
Global X MLP ETF	1
Global X MLP & Energy Infrastructure ETF	3
Global X Alternative Income ETF	6
Global X Conscious Companies ETF	8
Global X U.S. Preferred ETF	13
Global X S&P 500^®Quality Dividend ETF	22
Global X Adaptive U.S. Factor ETF	25
Global X Variable Rate Preferred ETF	32
Global X Adaptive U.S. Risk Management ETF	35
Global X 1-3 Month T-Bill ETF	51
Global X U.S. Cash Flow Kings 100 ETF	53
Global X Short-Term Treasury Ladder ETF	57
Global X Intermediate-Term Treasury Ladder ETF	60
Global X Long-Term Treasury Ladder ETF	62
Global X PureCap^SMMSCI Communication Services ETF	65
Global X PureCap^SMMSCI Consumer Discretionary ETF	67
Global X PureCap^SMMSCI Consumer Staples ETF	70
Global X PureCap^SMMSCI Energy ETF	72
Global X PureCap^SMMSCI Information Technology ETF	74
Global X U.S. 500 ETF	78
Global X U.S. Natural Gas ETF	93
Global X Zero Coupon Bond 2030 ETF	95
Global X Zero Coupon Bond 2031 ETF	96
Global X Zero Coupon Bond 2032 ETF	97
Global X Zero Coupon Bond 2033 ETF	98
Global X Zero Coupon Bond 2034 ETF	99
Global X Zero Coupon Bond 2035 ETF	100
Glossary	101
Statements of Assets and Liabilities	102
Statements of Operations	109
Statements of Changes in Net Assets	116
Financial Highlights	131
Notes to Financial Statements	149
Other Information (Form N-CSRS Items 8-11) (Unaudited)	178

Schedule of Investments	May 31, 2026 (Unaudited)
Global X MLP ETF

	Shares		Value
MASTER LIMITED PARTNERSHIPS — 99.6%
Energy — 96.2%
Cheniere Energy Partners		2,338,105	$	138,111,862
CrossAmerica Partners		100		2,162
Delek Logistics Partners		1,102,115		54,422,439
Energy Transfer		16,294,420		312,364,031
Enterprise Products Partners		7,575,482		278,701,983
Genesis Energy ^(A)		6,336,211		95,233,251
Global Partners ^(A)		1,724,928		81,658,091
Martin Midstream Partners		100		243
MPLX		4,785,661		261,536,374
NGL Energy Partners ^*		100		1,710
Plains All American Pipeline		11,241,713		252,151,623
Sunoco		2,969,966		192,869,592
USA Compression Partners		4,597,694		126,574,516
USD Partners ^*		100		—
Western Midstream Partners		5,330,893		228,535,383
				2,022,163,260
Utilities — 3.4%
Suburban Propane Partners ^(A)		3,740,866		72,572,800
TOTAL MASTER LIMITED PARTNERSHIPS (Cost $871,526,237)				2,094,736,060

COMMON STOCK — 9.4%
Energy — 9.4%
Hess Midstream, Cl A		5,242,374		196,589,025
ONEOK		100		8,394
Summit Midstream ^*		100		2,665
				196,600,084
Utilities — 0.0%
Star Group		100		1,255
TOTAL COMMON STOCK (Cost $163,505,695)				196,601,339
TOTAL INVESTMENTS — 109.0% (Cost $1,035,031,932)			$	2,291,337,399

Value 11/30/2025		Purchases at Cost		Proceeds from Sales			Change in Unrealized Appreciation (Depreciation)			Realized Gain (Loss)			Value 5/31/2026		Income		Capital Gains
Genesis Energy

$	91,815,528	$	10,937,160	$	(5,776,345	)	$	(1,628,886	)	$	(114,206	)	$	95,233,251	$	—	$	—
Global Partners

	72,211,773		6,837,337		(5,740,506	)		8,871,809			(522,322	)		81,658,091		—		—
Suburban Propane Partners

	66,810,405		7,768,458		(3,776,715	)		1,858,573			(87,921	)		72,572,800		—		—
Totals:

$	230,837,706	$	25,542,955	$	(15,293,566	)	$	9,101,496		$	(724,449	)	$	249,464,142	$	—	$	—

	Shares		Value
COMMON STOCK — 74.3%
CANADA — 25.3%
Energy — 25.3%
Enbridge		5,743,585	$	314,403,843
Pembina Pipeline ^(A)		3,322,739		154,673,500
South Bow		2,161,777		77,737,501
TC Energy		4,738,837		315,701,321

TOTAL CANADA				862,516,165
UNITED STATES — 49.0%
Energy — 49.0%
Antero Midstream		3,396,409		71,188,733
Archrock		1,769,501		59,260,588
Cheniere Energy		669,776		150,605,831
DT Midstream		1,053,943		147,530,941
Excelerate Energy, Cl A		325,568		10,724,210
Hess Midstream, Cl A		1,332,515		49,969,312
Kinder Morgan		8,593,596		267,088,964
Kinetik Holdings, Cl A		584,575		26,861,221
Kodiak Gas Services		907,928		60,694,987
NextDecade ^*		1,386,080		10,963,893
ONEOK		2,758,950		231,586,263
Targa Resources		871,874		222,388,901
Venture Global, Cl A		5,180,840		62,377,314
Williams		4,156,309		296,718,900

TOTAL UNITED STATES				1,667,960,058
TOTAL COMMON STOCK (Cost $2,056,181,791)				2,530,476,223

MASTER LIMITED PARTNERSHIPS — 25.5%
UNITED STATES— 25.5%
Energy — 25.5%
Cheniere Energy Partners		486,370		28,729,876
Delek Logistics Partners		237,822		11,743,650
Energy Transfer		7,929,867		152,015,550
Enterprise Products Partners		4,115,531		151,410,386
Genesis Energy		1,319,355		19,829,906
MPLX		2,905,385		158,779,290
NGL Energy Partners ^*		1,255,004		21,460,568

	Shares		Value
MASTER LIMITED PARTNERSHIPS — continued
Energy — continued
Plains All American Pipeline		5,613,918	$	125,920,181
Plains GP Holdings, Cl A		2,016,132		49,092,814
USA Compression Partners		960,291		26,436,811
Western Midstream Partners		2,905,804		124,571,818
TOTAL UNITED STATES				869,990,850
TOTAL MASTER LIMITED PARTNERSHIPS (Cost $505,302,761)				869,990,850

	Face Amount
U.S. TREASURY OBLIGATIONS — 4.4%
U.S. Treasury Bills 3.638%, 06/30/2026^(B)	$	150,000,000		149,561,828
TOTAL U.S. TREASURY OBLIGATIONS (Cost $149,576,792)				149,561,828

	Shares
SHORT-TERM INVESTMENT^(C)(D)— 1.0%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 3.550% (Cost $34,706,225)		34,706,225		34,706,225
TOTAL INVESTMENTS — 105.2% (Cost $2,745,767,569)			$	3,584,735,126

*	Non-income producing security.
(A)	This security or a partial position of this security is on loan at May 31, 2026. The total market value of securities on loan at May 31, 2026 was $33,483,415.
(B)	Interest rate represents the security’s effective yield at the time of purchase.
(C)	These securities were purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2026 was $34,706,225. The total value of non-cash collateral held from securities on loan as of May 31, 2026 was $0.
(D)	The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2026.

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	2,530,476,223	$	—	$	—	$	2,530,476,223
Master Limited Partnerships		869,990,850		—		—		869,990,850
U.S Treasury Obligations		—		149,561,828		—		149,561,828
Short-Term Investment		34,706,225		—		—		34,706,225
Total Investments in Securities	$	3,435,173,298	$	149,561,828	$	—	$	3,584,735,126

	Shares		Value
EXCHANGE-TRADED FUNDS — 81.0%
International Equity — 20.7%
Global X SuperDividend^®REIT ETF ^(A)(B)		407,621	$	9,171,473
Domestic Equity — 40.4%
Global X Nasdaq 100^®Covered Call ETF ^(B)(C)		499,606		9,032,876
Global X U.S. Preferred ETF ^(B)(D)		465,505		8,853,905
				17,886,781
Foreign Fixed Income — 19.9%
Global X Emerging Markets Bond ETF ^(B)(E)		367,546		8,795,376
TOTAL EXCHANGE-TRADED FUNDS (Cost $39,821,563)				35,853,630

COMMON STOCK — 10.3%
Energy — 3.6%
Antero Midstream		24,868		521,233
Hess Midstream, Cl A		14,235		533,813
ONEOK		6,349		532,935
				1,587,981
Utilities — 6.7%
Avista		14,731		610,894
Brookfield Infrastructure, Cl A		14,711		610,948
Edison International		8,079		565,045
Northwestern Energy Group		8,803		621,580
Portland General Electric		11,222		562,447
				2,970,914
TOTAL COMMON STOCK (Cost $3,922,699)				4,558,895

MASTER LIMITED PARTNERSHIPS — 8.6%
Energy — 8.6%
Alliance Resource Partners		20,453		508,257
Black Stone Minerals		38,160		517,449
Dorchester Minerals		20,810		563,535
Energy Transfer		29,992		574,947
Enterprise Products Partners		15,000		551,850
MPLX		9,747		532,673

(A)	For financial information on the Global X SuperDividend® REIT ETF, please go to the Fund’s website at https://www.globalxetfs.com/explore/.
(B)	Affiliated investment.
(C)	For financial information on the Global X Nasdaq 100® Covered Call ETF, please go to the Fund’s website at https://www.globalxetfs.com/explore/.
(D)	For financial information on the Global X U.S. Preferred ETF, please go to the Fund’s website at https://www.globalxetfs.com/explore/.
(E)	For financial information on the Global X Emerging Markets Bond ETF, please go to the Fund’s website at https://www.globalxetfs.com/explore/.

	Shares		Value
COMMON STOCK — 99.9%
UNITED STATES — 99.9%
Communication Services — 9.6%
Alphabet, Cl A		15,952	$	6,067,184
Comcast, Cl A		18,573		461,910
Electronic Arts		2,900		584,988
Live Nation Entertainment ^*		3,841		646,863
Meta Platforms, Cl A		2,322		1,468,688
Netflix *		6,328		544,335
Trade Desk, Cl A ^*		26,017		560,926
Verizon Communications		12,446		595,043
Versant Media Group		14,534		626,997
				11,556,934
Consumer Discretionary — 10.7%
Amazon.com ^*		13,556		3,668,796
Booking Holdings		3,330		557,542
BorgWarner		10,483		752,889
Dick’s Sporting Goods		2,621		596,461
eBay		5,691		621,856
Hilton Worldwide Holdings		1,761		577,009
Home Depot		1,730		548,652
Lear		4,537		649,335
Lululemon Athletica ^*		4,154		544,922
Marriott International, Cl A		1,599		600,584
NIKE, Cl B		13,142		607,555
PulteGroup		4,505		532,401
Tesla ^*		2,174		947,408
TJX		3,711		574,277
Ulta Beauty ^*		1,043		530,731
Yum! Brands		3,654		540,609
				12,851,027
Consumer Staples — 3.4%
Coca-Cola		7,704		608,693
Colgate-Palmolive		7,022		632,893
Costco Wholesale		582		556,578
Kimberly-Clark		6,009		586,478
PepsiCo		3,776		544,462
Procter & Gamble		4,035		579,265

	Shares		Value
COMMON STOCK — continued
Consumer Staples — continued
Walmart		4,451	$	515,203
				4,023,572
Energy — 1.9%
Chevron		3,130		571,100
ConocoPhillips		4,726		538,669
EOG Resources		4,388		585,271
ONEOK		6,740		565,756
				2,260,796
Financials — 11.3%
American Express		1,848		584,837
Bank of America		11,216		578,746
Bank of New York Mellon		4,345		605,823
Capital One Financial		2,993		562,474
Charles Schwab		6,606		577,034
Citigroup		4,579		576,496
FactSet Research Systems		2,579		633,067
Hartford Insurance Group		4,209		535,090
JPMorgan Chase		1,888		565,097
Mastercard, Cl A		1,168		576,969
MetLife		7,738		639,855
Moody’s		1,301		589,678
Morgan Stanley		3,119		648,752
Nasdaq		6,753		624,788
PayPal Holdings		11,829		529,348
Principal Financial Group		6,066		628,559
Progressive		2,859		544,354
Prudential Financial		6,238		627,792
S&P Global		1,341		568,584
Synchrony Financial		7,681		548,731
T Rowe Price Group		5,915		618,295
Travelers		1,910		557,510
Visa, Cl A		1,900		620,084
				13,541,963
Health Care — 8.6%
Abbott Laboratories		6,352		543,731
AbbVie		2,923		636,396

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

	Shares		Value
PREFERRED STOCK — 99.5%
BERMUDA—1.1%
Financials — 1.0%
Aspen Insurance Holdings, 7.000%		176,506	$	4,333,222
Aspen Insurance Holdings, 5.625%		173,232		3,501,019
Aspen Insurance Holdings, 5.625%		172,857		3,491,712
RenaissanceRe Holdings, 5.750%		194,220		4,111,637
RenaissanceRe Holdings, 4.200%		354,855		5,368,956
				20,806,546
Industrials — 0.1%
Triton International, 7.375%		135,469		3,323,055
TOTAL BERMUDA				24,129,601
CANADA—1.0%
Energy — 0.3%
TransCanada PipeLines, 6.250%		261,827		6,260,283
Financials — 0.2%
Brookfield Finance, 4.625%		281,020		4,364,241
Utilities — 0.5%
Algonquin Power & Utilities, 8.864%, US0003M + 4.010% ^(A)		245,864		6,380,171
Brookfield BRP Holdings Canada, 4.625%		274,155		4,038,303
				10,418,474
TOTAL CANADA				21,042,998
UNITED STATES— 97.4%
Communication Services — 5.4%
AT&T, 5.350%		956,105		20,097,327
AT&T, 5.000%		855,299		16,746,754
AT&T, 4.750%		1,261,557		23,288,342
Qwest, 6.750% ^(B)		470,499		9,198,256
Qwest, 6.500% ^(B)		696,232		13,506,901
Telephone and Data Systems, 6.625%		293,577		6,455,758
Telephone and Data Systems, 6.000%		494,888		9,714,652
T-Mobile USA, 6.250%		278,984		6,790,471
T-Mobile USA, 5.500%		285,921		6,118,709
T-Mobile USA, 5.500%		280,734		5,985,249
				117,902,419
Consumer Discretionary — 1.5%
Ford Motor, 6.500%		454,764		10,050,284
Ford Motor, 6.200%		539,216		11,350,497
Ford Motor, 6.000%		592,526		12,075,680
				33,476,461
Financials — 58.9%
AEGON Funding, 5.100%		687,317		13,086,516

	Shares		Value
PREFERRED STOCK — continued
Financials — continued
Affiliated Managers Group, 6.750%		320,024	$	7,619,771
Affiliated Managers Group, 5.875%		208,458		4,175,414
Allstate, 7.375%		436,570		11,398,843
Allstate, 7.100%, TSFR3M + 3.427% ^(A)		353,715		9,147,070
Allstate, 5.100%		835,720		16,881,544
Allstate, 4.750%		213,420		3,999,491
American National Group, 7.375%		215,393		5,309,437
Apollo Global Management, 7.625%, H15T5Y + 3.226% ^(A)		423,966		11,052,794
Arch Capital Group, 5.450%		232,172		4,599,327
Arch Capital Group, 4.550%		351,990		5,814,875
Ares Management, 6.750%		521,889		21,882,806
Associated Banc-Corp, 6.625%, H15T5Y + 2.812% ^(A)		211,871		5,243,807
Assurant, 5.250%		174,168		3,380,601
Athene Holding, 7.750%, H15T5Y + 3.962% ^(A)		353,703		9,022,964
Athene Holding, 7.250%, H15T5Y + 2.986% ^(A)		406,000		10,170,300
Athene Holding, 6.350%, TSFR3M + 4.253% ^(A)		618,360		15,205,472
Athene Holding, 5.625%		242,144		4,591,050
Athene Holding, 4.875%		402,662		6,579,497
Atlanticus Holdings, 9.250%		129,722		3,316,992
Axis Capital Holdings, 5.500%		397,455		7,770,245
Banc of California, 7.750%, H15T5Y + 4.820% ^(A)		365,052		9,181,058
Bank of America, 7.250%		23,472		28,314,039
Bank of America, 6.450%		331,905		8,496,768
Bank of America, 6.000%		426,337		10,632,845
Bank of America, 5.875%		269,119		6,606,871
Bank of America, 5.375%		435,902		9,502,664
Bank of America, 5.000%		411,157		8,297,148
Bank of America, 4.750%		216,398		4,102,906
Bank of America, 4.574%, TSFR3M + 0.912% ^(A)		94,342		1,835,895
Bank of America, 4.403%, TSFR3M + 0.762% ^(A)		126,186		2,473,246
Bank of America, 4.375%		338,953		5,928,288
Bank of America, 4.263%, TSFR3M + 0.612% ^(A)		101,457		1,940,872

‡	Real Estate Investment Trust
(A)	Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; or by adjusting periodically based on prevailing interest rates.
(B)	Level 3 security in accordance with fair value hierarchy.
(C)	This security or a partial position of this security is on loan at May 31, 2026. The total market value of securities on loan at May 31, 2026 was $9,396,000.
(D)	These securities were purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2026 was $9,450,000. The total value of non-cash collateral held from securities on loan as of May 31, 2026 was $0.
(E)	The rate reported on the Schedule of Investments is the 7-day effective yield as of May 31, 2026.

	Shares		Value
COMMON STOCK — 99.7%
Communication Services — 3.5%
AT&T		24,027	$	595,870
Comcast, Cl A		22,473		558,903
				1,154,773
Consumer Discretionary — 4.5%
Best Buy		7,904		616,117
NIKE, Cl B		8,902		411,539
Pool		2,435		441,709
				1,469,365
Consumer Staples — 22.0%
Brown-Forman, Cl B		19,285		496,010
Coca-Cola		8,347		659,497
Colgate-Palmolive		7,537		679,310
Constellation Brands, Cl A		3,946		547,784
Hormel Foods		24,680		573,316
Kenvue		33,833		584,634
Kimberly-Clark		5,681		554,466
McCormick		9,109		431,493
Mondelez International, Cl A		10,806		661,003
Procter & Gamble		4,191		601,660
Target		6,155		782,116
Tyson Foods, Cl A		10,163		620,146
				7,191,435
Energy — 11.5%
Chevron		3,846		701,741
EOG Resources		5,260		701,579
Marathon Petroleum		3,044		757,256
SLB		14,584		795,557
Valero Energy		3,309		810,109
				3,766,242
Financials — 6.9%
Blackstone		3,741		437,585
Cincinnati Financial		3,603		567,184
Principal Financial Group		6,495		673,012
T Rowe Price Group		5,658		591,431
				2,269,212
Health Care — 14.4%
Amgen		1,858		625,756
Becton Dickinson		2,952		434,298
Cigna Group		2,232		619,157

	Shares		Value
COMMON STOCK — 99.8%
UNITED STATES — 99.8%
Communication Services — 8.6%
Alphabet, Cl A		1,882	$	715,800
Alphabet, Cl C		1,891		711,829
AT&T		649,029		16,095,919
Charter Communications, Cl A ^*		17,387		2,504,597
Comcast, Cl A		143,546		3,569,989
Electronic Arts		62,368		12,580,873
New York Times, Cl A		76,577		5,759,356
News, Cl A		23,727		619,275
News, Cl B		20,577		613,606
Sirius XM Holdings		148,396		4,380,650
Take-Two Interactive Software ^*		2,959		663,290
T-Mobile US		37,257		6,986,805
Verizon Communications		366,758		17,534,700
				72,736,689
Consumer Discretionary — 9.2%
ADT		578,254		3,880,084
Best Buy		66,390		5,175,101
Boyd Gaming		48,964		4,048,344
CarMax ^*		106,483		4,751,271
Gap		162,653		3,440,111
Lear		32,559		4,659,844
Lennar, Cl A		44,622		4,006,163
Lennar, Cl B ^(A)		45,882		4,041,287
Lithia Motors, Cl A		15,232		4,430,836
LKQ		134,275		3,641,538
McDonald’s		21,767		6,077,346
Mohawk Industries ^*		38,862		4,174,556
O’Reilly Automotive ^*		7,193		624,928
Penske Automotive Group		26,448		4,426,602
Red Rock Resorts, Cl A		75,725		4,420,826
Taylor Morrison Home, Cl A ^*		64,828		3,792,438
TJX		79,828		12,353,383
				77,944,658
Consumer Staples — 7.8%
Albertsons, Cl A		34,552		539,357
Altria Group		175,859		12,236,269

	Shares		Value
SHORT-TERM INVESTMENT^(B)(C)— 0.8%
Fidelity Investments Money Market Government Portfolio, Cl Institutional, 3.550% (Cost $6,586,999)		6,586,999	$	6,586,999
TOTAL INVESTMENTS — 100.6% (Cost $821,902,931)			$	853,213,933

	Shares		Value
PREFERRED STOCK — 99.6%
CANADA— 1.7%
Utilities — 1.7%
Algonquin Power & Utilities, 8.864%, US0003M + 4.010% ^(A)		208,202	$	5,402,842
TOTAL CANADA				5,402,842
UNITED STATES— 97.9%
Consumer Staples — 4.6%
CHS, Ser 2, 7.100%, US0003M + 4.298% ^(A)		258,594		6,488,123
CHS, Ser 3, 6.750%, US0003M + 4.155% ^(A)		301,460		7,509,369
				13,997,492
Energy — 1.6%
NGL Energy Partners, 11.126%, TSFR3M + 7.475% ^(A)		194,757		4,979,937
Financials — 90.5%
Adams Trust, 11.283%, US0003M + 6.429% ^{‡ (A)}		112,941		2,860,796
AGNC Investment, 9.024%, TSFR3M + 5.373% ^{‡ (A)}		114,556		2,954,399
AGNC Investment, 8.906%, TSFR3M + 5.255% ^{‡ (A)}		143,093		3,658,888
AGNC Investment, 8.632%, TSFR3M + 4.697% ^{‡ (A)}		204,423		5,137,150
AGNC Investment, 8.267%, TSFR3M + 4.594% ^{‡ (A)}		82,700		2,063,365
Allstate, 7.100%, TSFR3M + 3.427% ^(A)		305,271		7,894,308
Annaly Capital Management, 8.950%, TSFR3M + 5.251% ^{‡ (A)}		150,191		3,856,905
Annaly Capital Management, 8.906%, TSFR3M + 5.255% ^{‡ (A)}		244,602		6,366,990
Annaly Capital Management, 8.085%, TSFR3M + 4.434% ^{‡ (A)}		143,283		3,612,164
Apollo Global Management, 7.625%, H15T5Y + 3.226% ^(A)		366,539		9,555,672
Associated Banc-Corp, 6.625%, H15T5Y + 2.812% ^(A)		182,933		4,527,592
Athene Holding, 7.750%, H15T5Y + 3.962% ^(A)		143,205		3,653,160
Athene Holding, 7.250%, H15T5Y + 2.986% ^(A)		164,956		4,132,148
Athene Holding, 6.350%, TSFR3M + 4.253% ^(A)		248,418		6,108,599
Banc of California, 7.750%, H15T5Y + 4.820% ^(A)		313,721		7,890,083

Global X Funds

Global X MLP ETF

Ticker: MLPA

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

What were the Fund costs for the last six months?

Key Fund Statistics as of May 31, 2026

What did the Fund invest in?

Sector WeightingsFootnote Reference*

Top Ten Holdings

Additional Information

Global X Funds

Global X MLP & Energy Infrastructure ETF

Ticker: MLPX

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

What were the Fund costs for the last six months?

Key Fund Statistics as of May 31, 2026

What did the Fund invest in?

Asset/Country WeightingsFootnote Reference*

Top Ten Holdings

Additional Information

Global X Funds

Global X Alternative Income ETF

Ticker: ALTY

Principal Listing Exchange: Nasdaq

Semi-Annual Shareholder Report: May 31, 2026

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Key Fund Statistics as of May 31, 2026

What did the Fund invest in?

Asset/Sector WeightingsFootnote Reference*

Top Ten Holdings

Additional Information

Global X Funds

Global X Conscious Companies ETF

Ticker: KRMA

Principal Listing Exchange: Nasdaq

Semi-Annual Shareholder Report: May 31, 2026

What were the Fund costs for the last six months?

Key Fund Statistics as of May 31, 2026

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Sector WeightingsFootnote Reference*

Top Ten Holdings

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Global X Funds

Global X U.S. Preferred ETF

Ticker: PFFD

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

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Key Fund Statistics as of May 31, 2026

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Asset/Sector WeightingsFootnote Reference*

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Global X Funds

Global X S&P 500® Quality Dividend ETF

Ticker: QDIV

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

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Key Fund Statistics as of May 31, 2026

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Global X Funds

Global X Adaptive U.S. Factor ETF

Ticker: AUSF

Principal Listing Exchange: NYSE Arca, Inc.

Semi-Annual Shareholder Report: May 31, 2026

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Key Fund Statistics as of May 31, 2026

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Global X Funds

Global X Variable Rate Preferred ETF

Ticker: PFFV

Sector Weightings^{Footnote
Reference*}

Asset/Country Weightings^{Footnote
Reference*}

Asset/Sector Weightings^{Footnote
Reference*}

Sector Weightings^{Footnote
Reference*}

Asset/Sector Weightings^{Footnote
Reference*}

Global X S&P 500^® Quality Dividend ETF

Sector Weightings^{Footnote
Reference*}

Asset/Sector Weightings^{Footnote
Reference*}

Sector Weightings^{Footnote
Reference*}

Asset/Sector Weightings^{Footnote
Reference*}

Asset Weightings^{Footnote
Reference*}

Sector Weightings^{Footnote
Reference*}

Asset Weightings^{Footnote
Reference*}

Asset Weightings^{Footnote
Reference*}

	Shares		Value
COMMON STOCK — 98.0%
AUSTRALIA — 0.1%
Materials — 0.1%
Anglogold Ashanti PLC		1,125	$	108,945

BRAZIL — 0.1%
Consumer Discretionary — 0.1%
MercadoLibre ^*		100		169,565

FINLAND — 0.0%
Consumer Discretionary — 0.0%
Amer Sports ^*		334		11,884

IRELAND — 0.0%
Industrials — 0.0%
AerCap Holdings		292		40,702

MEXICO — 0.0%
Materials — 0.0%
Southern Copper		198		37,927

NETHERLANDS — 0.1%
Information Technology — 0.1%
NXP Semiconductors		511		164,210

SOUTH KOREA — 0.0%
Consumer Discretionary — 0.0%
Coupang, Cl A ^*		2,549		42,313

SWITZERLAND — 0.1%
Information Technology — 0.1%
TE Connectivity PLC		642		137,009

THAILAND — 0.1%
Information Technology — 0.1%
Fabrinet ^*		72		47,100

	Face Amount		Value
U.S. TREASURY OBLIGATIONS — 104.8%
U.S. Treasury Bills
6.405%, 06/11/2026^(A)	$	78,850,000	$	78,770,734
5.968%, 06/25/2026^(A)		71,070,000		70,898,034
5.868%, 06/18/2026^(A)		82,650,000		82,508,226
5.492%, 06/30/2026^(A)		58,360,000		58,189,522
5.411%, 06/4/2026^(A)		102,620,000		102,588,786
4.842%, 06/23/2026^(A)		74,350,000		74,184,885
4.833%, 06/16/2026^(A)		89,620,000		89,484,235
4.749%, 06/9/2026^(A)		78,190,000		78,126,970
3.633%, 07/2/2026^(A)		178,751,000		178,194,562
3.628%, 07/16/2026^(A)		151,700,000		151,014,506
3.626%, 06/2/2026^(A)		145,440,000		145,425,593
3.626%, 07/9/2026^(A)		271,600,000		270,560,036
3.624%, 07/23/2026^(A)		210,000,000		208,897,004
3.619%, 07/21/2026^(A)		101,430,000		100,920,068
3.595%, 07/7/2026^(A)		107,680,000		107,289,552
3.590%, 07/14/2026^(A)		99,000,000		98,572,349
3.578%, 08/20/2026^(A)		84,200,000		83,527,491
3.509%, 08/25/2026^(A)		38,300,000		37,976,699
3.260%, 07/30/2026^(A)		202,830,000		201,621,780
2.928%, 08/27/2026^(A)		110,000,000		109,044,285
1.490%, 08/6/2026^(A)		257,500,000		255,791,390
1.479%, 07/28/2026^(A)		118,500,000		117,818,358
1.301%, 08/13/2026^(A)		157,940,000		156,790,241
0.967%, 08/4/2026^(A)		75,000,000		74,515,373
0.306%, 08/18/2026^(A)		45,000,000		44,649,853
0.000%, 08/11/2026^(B)		1,200,000		1,191,500
				2,978,552,032
TOTAL U.S. TREASURY OBLIGATIONS (Cost $2,978,628,460)				2,978,552,032

REPURCHASE AGREEMENTS — 0.0%
Citadel Securities LLC 3.680%, dated 05/29/2026, to be repurchased on 06/01/2026, repurchase price $16,005 (collateralized by various U.S. Treasury Obligations, ranging in par value $1 - $1,250, 0.000% - 6.125%, 06/09/2026 - 05/15/2056, with a total market value of $16,277)		16,000		16,000

	Face Amount		Value
REPURCHASE AGREEMENTS — continued
RBC Dominion Securities, Inc. 3.610%, dated 05/29/2026, to be repurchased on 06/01/2026, repurchase price $2,164 (collateralized by various U.S. Treasury Obligations, ranging in par value $13 - $1,220, 0.000% - 4.625%, 02/15/2034 - 08/15/2046, with a total market value of $2,206)	$	2,163	$	2,163

TOTAL REPURCHASE AGREEMENTS (Cost $18,163)				18,163
TOTAL INVESTMENTS — 104.8% (Cost $2,978,646,623)			$	2,978,570,195

(A)	Interest rate represents the security’s effective yield at the time of purchase.
(B)	There is currently no stated interest rate.

	Face Amount		Value
U.S. TREASURY OBLIGATIONS — 98.9%
U.S. Treasury Notes
4.875%, 10/31/2028	$	725,000	$	738,792
4.625%, 06/15/2027		40,000		40,291
4.625%, 09/30/2028		1,150,000		1,165,139
4.500%, 04/15/2027		175,000		175,943
4.500%, 05/15/2027		455,000		457,449
4.375%, 07/15/2027		200,000		200,984
4.375%, 08/31/2028		785,000		790,734
4.375%, 11/30/2028		850,000		856,740
4.250%, 03/15/2027		255,000		255,856
4.250%, 01/15/2028		315,000		316,230
4.250%, 02/15/2028		200,000		200,820
4.125%, 02/28/2027		430,000		430,882
4.125%, 09/30/2027		945,000		947,104
4.125%, 10/31/2027		120,000		120,253
4.125%, 11/15/2027		100,000		100,203
4.125%, 07/31/2028		470,000		471,010
4.000%, 12/15/2027		930,000		930,291
4.000%, 02/29/2028		55,000		55,004
4.000%, 06/30/2028		815,000		814,777
4.000%, 01/31/2029		560,000		559,256
3.875%, 03/31/2027		1,090,000		1,090,351
3.875%, 05/31/2027		235,000		234,928
3.875%, 07/31/2027		1,200,000		1,199,109
3.875%, 10/15/2027		735,000		734,167
3.875%, 11/30/2027		80,000		79,872
3.875%, 12/31/2027		930,000		928,329
3.875%, 03/15/2028		245,000		244,483
3.875%, 03/31/2028		490,000		488,890
3.875%, 06/15/2028		625,000		623,315
3.875%, 07/15/2028		470,000		468,586
3.750%, 04/30/2027		935,000		933,992
3.750%, 06/30/2027		770,000		768,677
3.750%, 08/15/2027		210,000		209,524
3.750%, 04/15/2028		1,230,000		1,224,379
3.750%, 04/30/2028		1,000,000		995,313
3.750%, 05/15/2028		950,000		945,398
3.750%, 12/31/2028		570,000		565,903
3.625%, 08/31/2027		135,000		134,473
3.625%, 05/31/2028		30,000		29,779
3.625%, 08/15/2028		1,150,000		1,140,432
3.500%, 09/30/2027		500,000		497,109

	Face Amount		Value
U.S. TREASURY OBLIGATIONS — continued
3.500%, 10/31/2027	$	970,000	$	963,748
3.500%, 01/31/2028		510,000		505,936
3.500%, 04/30/2028		480,000		475,538
3.500%, 10/15/2028		350,000		345,762
3.500%, 11/15/2028		750,000		740,566
3.500%, 12/15/2028		480,000		473,794
3.500%, 01/15/2029		480,000		473,531
3.500%, 02/15/2029		930,000		916,995
3.375%, 09/15/2027		35,000		34,753
3.375%, 11/30/2027		375,000		371,763
3.375%, 12/31/2027		900,000		891,563
3.375%, 02/29/2028		540,000		534,431
3.375%, 09/15/2028		470,000		463,317
3.250%, 06/30/2027		750,000		744,785
3.125%, 08/31/2027		95,000		94,061
3.125%, 11/15/2028		35,000		34,259
2.750%, 04/30/2027		620,000		613,818
2.750%, 07/31/2027		120,000		118,392
2.750%, 02/15/2028		45,000		44,077
2.625%, 05/31/2027		1,100,000		1,086,267
2.625%, 02/15/2029		30,000		28,909
2.500%, 03/31/2027		40,000		39,569
2.375%, 05/15/2027		220,000		216,856
2.250%, 11/15/2027		275,000		268,340
1.875%, 02/28/2027		120,000		118,289
1.750%, 01/31/2029		460,000		433,478
1.500%, 11/30/2028		450,000		423,070
1.375%, 10/31/2028		460,000		432,041
1.250%, 04/30/2028		540,000		512,768
1.250%, 05/31/2028		470,000		445,307
1.250%, 06/30/2028		470,000		444,297
1.125%, 02/28/2027		105,000		102,919
0.750%, 01/31/2028		830,000		786,944
0.625%, 03/31/2027		60,000		58,445
0.625%, 11/30/2027		180,000		171,281
0.625%, 12/31/2027		22,500		21,350
0.500%, 04/30/2027		120,000		116,407
0.500%, 05/31/2027		85,000		82,188
0.500%, 08/31/2027		900,000		862,559
0.500%, 10/31/2027		135,000		128,619
0.375%, 07/31/2027		110,000		105,574

	Face Amount		Value
U.S. TREASURY OBLIGATIONS — 98.8%
U.S. Treasury Notes
4.875%, 10/31/2030	$	175,000	$	180,209
4.625%, 04/30/2031		30,000		30,628
4.625%, 05/31/2031		260,000		265,454
4.625%, 02/15/2035		250,000		254,287
4.500%, 05/31/2029		350,000		354,279
4.500%, 12/31/2031		260,000		263,961
4.500%, 11/15/2033		330,000		333,893
4.375%, 12/31/2029		45,000		45,424
4.375%, 01/31/2032		100,000		100,887
4.375%, 05/15/2034		195,000		195,442
4.250%, 01/31/2030		295,000		296,521
4.250%, 03/31/2033		95,000		94,852
4.250%, 11/15/2034		400,000		396,516
4.250%, 05/15/2035		320,000		316,425
4.250%, 08/15/2035		370,000		365,447
4.125%, 10/31/2029		35,000		35,042
4.125%, 11/30/2029		50,000		50,062
4.125%, 08/31/2030		25,000		24,997
4.125%, 10/31/2031		210,000		209,434
4.125%, 11/30/2031		35,000		34,902
4.125%, 02/29/2032		175,000		174,296
4.125%, 03/31/2032		235,000		234,009
4.125%, 11/15/2032		65,000		64,540
4.125%, 04/30/2033		60,000		59,437
4.125%, 02/15/2036		335,000		326,782
4.000%, 07/31/2029		50,000		49,900
4.000%, 10/31/2029		85,000		84,778
4.000%, 02/28/2030		50,000		49,832
4.000%, 05/31/2030		45,000		44,824
4.000%, 01/31/2031		55,000		54,676
4.000%, 04/30/2032		235,000		232,393
4.000%, 06/30/2032		25,000		24,699
4.000%, 07/31/2032		50,000		49,369
4.000%, 01/31/2033		125,000		123,066
4.000%, 02/15/2034		230,000		225,050
4.000%, 11/15/2035		230,000		222,453
3.875%, 09/30/2029		125,000		124,214
3.875%, 04/30/2030		25,000		24,795
3.875%, 06/30/2030		90,000		89,202
3.875%, 03/31/2031		60,000		59,311
3.875%, 08/31/2032		35,000		34,301

Schedule of Investments		May 31, 2026 (Unaudited)
Global X PureCap^SM MSCI Communication Services ETF

	Shares		Value
COMMON STOCK — 99.4%
UNITED STATES — 99.4%
Communication Services — 99.4%
Alphabet, Cl A		78,584	$	29,888,639
Alphabet, Cl C		64,872		24,419,767
AST SpaceMobile, Cl A ^*		3,036		344,313
AT&T		96,007		2,380,974
Charter Communications, Cl A ^*		1,146		165,081
Comcast, Cl A		49,247		1,224,773
EchoStar, Cl A ^*		1,915		247,399
Electronic Arts		3,211		647,723
Fox, Cl A		2,823		180,446
Fox, Cl B		1,997		114,608
Liberty Media -Liberty Formula One, Cl C ^*		2,888		262,201
Live Nation Entertainment ^*		2,230		375,554
Meta Platforms, Cl A		30,025		18,991,113
Netflix *		57,394		4,937,032
News, Cl A		5,022		131,074
Omnicom Group		4,282		311,344
Reddit, Cl A ^*		1,346		236,896
ROBLOX, Cl A ^*		8,022		378,237
Take-Two Interactive Software ^*		2,528		566,676
T-Mobile US		6,845		1,283,643
Verizon Communications		57,115		2,730,668
Walt Disney		24,142		2,458,380
Warner Bros Discovery ^*		31,989		864,023

TOTAL UNITED STATES				93,140,564
TOTAL COMMON STOCK (Cost $89,896,099)				93,140,564

	Face Amount
U.S. TREASURY OBLIGATIONS — 29.6%
U.S. Treasury Bills 3.635%, 06/30/2026^(A)	$	27,800,000		27,718,792
TOTAL U.S. TREASURY OBLIGATIONS (Cost $27,721,619)				27,718,792

	Shares		Value
EXCHANGE-TRADED FUNDS — 0.5%
Domestic Equity — 0.5%
Direxion Daily GOOGL Bull 2X Shares		710	$	93,720
Vanguard Communication Services ETF		1,700		335,036
				428,756
TOTAL EXCHANGE-TRADED FUNDS (Cost $428,857)				428,756
TOTAL INVESTMENTS — 129.5% (Cost $118,046,575)			$	121,288,112