Product ResearchArtificial IntelligenceThematic Growth
A Thematic Playbook to Invest in the AI Ecosystem
T
Tejas Dessai
Jan 8, 202616 min read
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Cloud Computing ETF
A Thematic Playbook to Invest in the AI Ecosystem
Tejas Dessai
How Agentic AI Could Catalyze Cloud Computing
Cybersecurity Faces Transformation from Generative AI
Ido Caspi
Tejas Dessai
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.
AIQ seeks to invest in companies that stand to benefit from the further development and use of artificial intelligence in their products and services, as well as those providing the hardware that facilitates AI for big data analysis, spanning the AI ecosystem from developers to enablers.
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.
BUG seeks to invest in companies that stand to benefit from the increased adoption of cybersecurity technology, including those developing and managing security protocols that prevent intrusion and attacks across systems, networks, applications, computers, and mobile devices.
CLOU can complement artificial intelligence and core technology allocations by delivering targeted, focused exposure to the cloud computing companies that can underpin AI adoption.
As cloud infrastructure becomes the distribution layer for artificial intelligence, the Fund offers access to software providers and hyperscale operators positioned to benefit from the flywheel of AI-driven data generation and rising demand for compute and storage.
Increasing AI investments are likely to boost cloud’s share of IT spending from an estimated 18% in 2025 to an estimated 40% in 2030.1
By 2028, global data assets generated annually could nearly double, accelerated by AI data generation, boosting cloud storage and compute needs.2
CLOU invests without regard for sector or geography, and its most innovative companies include both household names and newcomers.
1Global X ETFs forecast with information derived from: Gartner, Jul 2025
2Avison Young, 2025
AI is driving a stack of interlinked technologies, from semiconductors to data centers to energy, shaping the next era of growth and innovation.
2025 is shaping up to be the year of agentic AI, which we believe can catalyze further cloud computing growth.
Growing attacks and the advent of Generative AI will likely present new growth opportunities for the cybersecurity theme in 2024.
As of Nov 6, 2026
Net Assets (%) | Ticker | Name | SEDOL | Market Price ($) | Shares Held | Market Value ($) |
|---|---|---|---|---|---|---|
| 6.43% | SNOW | SNOWFLAKE INC | BN134B7 | $275.88 | 85,758 | $23,658,917 |
| 5.96% | PAYC | PAYCOM SOFTWARE INC | BL95MY0 | $237.32 | 92,394 | $21,926,944 |
| 5.02% | WDAY |
Holdings are subject to change. "Cash" denotes U.S. dollars.
Nov 6, 2026
30-Day SEC Yield
-0.51%
Distribution Frequency
Semi-Annually
Record Date | Payable Date | Amount | |
|---|---|---|---|
| Dec 30, 2026 | Dec 30, 2026 | Jan 7, 2027 | - |
Metric | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
Fund NAV | +16.38% | +16.36% | -2.02% | +8.84% |
Market Price | +16.27% | +16.28% | -2.06% | +8.87% |
Index | +17.01% | +17.10% | -1.39% | +9.52% |
As of Nov 6, 2026
As of Nov 6, 2026
As of Nov 6, 2026
What is Premium/Discount Chart?
How can the Fund trade at a premium/discount to its NAV?
What causes these time discrepancies?
As of Nov 6, 2026
As of Oct 31, 2026
| Sector | Weight (%) |
|---|---|
Information Technology | 92.28% |
Communication Services | 3.55% |
Real Estate | 2.64% |
Consumer Discretionary | 1.53% |
| Sector | Weight (%) |
|---|---|
Information Technology | 92.28% |
Communication Services | 3.55% |
Real Estate | 2.64% |
Consumer Discretionary | 1.53% |
Source: AltaVista Research, LLC
All Sector, Industry, Commodity and Geographic breakdowns, where provided, are based on equity positions held by the ETF and exclude cash, currencies, and other holdings.
As of Oct 31, 2026
The Global X Cloud Computing ETF (CLOU) seeks to invest in companies positioned to benefit from the increased adoption of cloud computing technology, including companies whose principal business is in offering computing Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), Infrastructure-as-a-Service (IaaS), managed server storage space and data center real estate investment trusts, and/or cloud and edge computing infrastructure and hardware.
The Global X Cloud Computing ETF (CLOU) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Indxx Global Cloud Computing Index. The Index is designed to track the performance of companies positioned to benefit from the increased adoption of cloud computing technology, including those whose principal business is in offering Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), Infrastructure-as-a-Service (IaaS), managed server storage space and data center real estate investment trusts, and cloud and edge computing infrastructure and hardware.
The Index considers companies across five sub-themes—SaaS, PaaS, IaaS, Data Center REITs, and Cloud Infrastructure Components. Companies deriving at least 50% of revenue from these sub-themes (Cloud Computing Companies) or generating at least $500 million in public cloud infrastructure revenue (Public Cloud Companies) are eligible.
Highlights
As of Nov 6, 2026
As of Nov 6, 2026
| WORKDAY INC-CLASS A |
| B8K6ZD1 |
| $192.90 |
| 95,633 |
| $18,447,606 |
| 4.82% | ZS | ZSCALER INC | BZ00V34 | $197.66 | 89,614 | $17,713,103 |
| 4.56% | QLYS | QUALYS INC | B7XJTN8 | $190.41 | 88,008 | $16,757,603 |
| 4.35% | TWLO | TWILIO INC - A | BD6P5Q0 | $202.02 | 79,161 | $15,992,105 |
| 4.31% | DDOG | DATADOG INC - CLASS A | BKT9Y49 | $179.04 | 88,544 | $15,852,918 |
| 4.24% | PCOR | PROCORE TECHNOLOGIES INC | BLH11J8 | $75.33 | 207,060 | $15,597,830 |
| 4.17% | NET | CLOUDFLARE INC - CLASS A | BJXC5M2 | $268.75 | 57,107 | $15,347,506 |
| 3.91% | SHOP | SHOPIFY INC - CLASS A | BXDZ9Z0 | $148.91 | 96,685 | $14,397,363 |
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.
| Industry | Weight (%) |
|---|---|
Software & Services | 92.28% |
Equity Real Estate Investment Trusts (Reits) | 2.64% |
Telecommunication Services | 2.10% |
Consumer Discretionary Distribution & Retail | 1.53% |
Media & Entertainment | 1.45% |
| Country | Weight (%) |
|---|---|
United States | 90.35% |
Canada | 3.81% |
Israel | 2.62% |
Sweden | 2.10% |
China | 0.87% |
Japan | 0.25% |
As of Nov 6, 2026
Source: AltaVista Research, LLC