FLAG

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.

EGLE seeks to provide more precise U.S. equity exposure by tracking S&P 500® companies that generate at least 50% of their revenue from the U.S., leveraging a modified capitalization weighting methodology that aims to balance sector exposure and limit concentration in the largest stocks.

FLOW offers exposure to U.S. companies that exhibit high free cash flow yields relative to the broader domestic equity market, positioning it as a potentially appealing core allocation. The Fund seeks to pay distributions monthly.

ONOF seeks to provide a risk management solution by employing four technical indicators to dictate whether the Fund participates in the U.S. equity markets or takes a defensive stance in short-term Treasuries.

FLAG can complement core U.S. equity allocations by providing targeted exposure to companies that derive the majority of their revenue domestically, rather than globally oriented multinationals. This domestic revenue focus, paired with quality screens measuring free cash flow margin, return on invested capital, and market share, can help reduce portfolio risk while positioning for companies that may benefit from U.S. economic growth. In an increasingly fragmented global environment, such companies may offer a measure of insulation from trade disruption and currency risk relative to peers with greater international exposure.

Many U.S. companies in major market indexes now earn most of their revenue abroad. FLAG offers core index exposure with a focus on American companies generating the majority of their revenue domestically.

The S&P 500® U.S. Revenue Market Leaders 50 Index selects the top 50 eligible companies from the S&P 500 that generate at least 50% of their revenues from the U.S. using a Market Leader Score, which evaluates key indicators of quality and business strength.

America is driven by investments in technology, infrastructure development, and strong consumer spending. FLAG aims to capture these factors that may support continued U.S. growth in the years ahead.

On April 16th, Global X listed two ETFs that may offer innovative ways to evolve core allocations and reflect a rapidly changing world.

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