SEI Investments Distribution Co. (1 Freedom Valley Drive, Oaks, PA, 19456) is the distributor for the Global X Funds.

Check the background of SIDCO and Global X's Registered Representatives on FINRA's BrokerCheck.

SHLD seeks to invest in companies positioned to benefit from the increased adoption of defense technology, including those building cybersecurity systems, leveraging artificial intelligence and big data, and developing advanced military systems and hardware such as robotics, fuel systems, and aircraft for defense applications.

DTCR seeks to invest in companies that own, operate, or develop data centers and cellular towers, as well as those that manufacture the servers and hardware powering these facilities, offering targeted exposure to the digital infrastructure underpinning the AI economy.

PAVE seeks to invest in companies that stand to benefit from a potential increase in infrastructure activity in the United States, including those involved in the production of raw materials, heavy equipment, engineering, and construction.

BUG may complement technology allocations by providing targeted exposure to cybersecurity companies—rather than diversified technology conglomerates. This concentrated approach seeks to fill a structural gap in broad equity indexes, where companies focused specifically on cybersecurity tend to be underrepresented relative to larger, multi-line technology firms.

As cloud adoption, connected devices, and expanding digital infrastructure reinforce one another and reshape the outlook for cybersecurity, BUG may offer a way to access the cybersecurity ecosystem as it evolves.

As ransomware attacks grow increasingly sophisticated, global cybersecurity spending could increase from $178B in 2024 to more than $430B in 2030.¹

Cybersecurity markets are fragmented. It is estimated that nearly 50% of security spending goes to inefficient services, creating opportunities for large cloud-native vendors.²
 

The realm of cybersecurity extends far beyond personal computers. BUG invests accordingly, cutting across traditional sector and geographic definitions.
 

¹Global X ETFs forecast with information derived from: Gartner. (2025, July 29). Gartner Forecasts Worldwide End-User Spending on Information Security to Total $213 Billion in 2025.

²McKinsey Research. (2022, October 27). New survey reveals $2 trillion market opportunity for cybersecurity technology and service providers.

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The financial statements include the Fund's disclosures required by Items 7 through 11 of Form N-CSR, which includes the financial statements, financial highlights, and other important information when applicable.

The financial statements include the Fund's disclosures required by Items 7 through 11 of Form N-CSR, which includes the financial statements, financial highlights, and other important information when applicable.

AI monetization is beginning to fund the next investment wave, reinforcing a virtuous cycle of capacity expansion, lower development costs, adoption, and revenue.

The Premium/Discount chart demonstrates the difference between the daily market price of shares of the Fund and the Fund's net asset value (NAV). The vertical axis of the chart shows the premium or discount of the daily market price as a percentage of the NAV. The horizontal axis shows each trading day in the time period, and each data point in the chart represents the Premium/Discount on that day. The data presented in the chart and table above represent past performance and cannot be used to predict future results.

The primary explanation is that timing discrepancies can arise between the NAV and the trading price of the Fund. Since shares of the Fund trade on the open market, prices are affected by the constant flow of information received by investors, corporations and financial institutions. Depending on how this changing information affects investor sentiment, shares of the Fund may deviate slightly from the value of the Fund's underlying assets. The NAV of the Fund is only calculated once a day (normally at 4:00 p.m. eastern time). As a result, shareholders may pay more than NAV when they buy Fund shares and receive less than NAV when they sell those shares, because shares are purchased and sold at current market prices. However, due to the creation and redemption process that is unique to ETFs, market makers are able to minimize these deviations from NAV by taking advantage of arbitrage opportunities.

Close of Trading Times. Although both the NAV and the daily market price of the Fund are generally calculated based on prices at the closing time of the exchange (generally 4:00 p.m. eastern time), slight differences in this timing may cause discrepancies.

Time of Last Trade. Trading of Global X funds generally takes place during normal trading hours (9:30 a.m. to 4:00 p.m. eastern time). However, it is important to note that the last trade - from which the closing price is determined - may not occur at exactly 4:00 p.m. eastern time. Therefore, changing market sentiment during the time difference may cause the NAV to deviate from the closing price.

International Holdings. The premiums and discounts for funds with significant holdings in international markets may be less accurate due to the different closing times of various international markets. Because the Funds trade during U.S. market hours while the underlying securities may not, the time lapse between the markets can result in differences between the NAV and the trading price.

Source: AltaVista Research, LLC