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VPN

Data Center REITs & Digital Infrastructure ETF

Overview Prices & Performance Holdings & Characteristics Research Documents

Reasons to Consider VPN

High Growth Potential

Global data center investments are expected to increase from $321bn in 2022 to $410 billion in 2025 to support the growth of 5G, smart grids, and other forms of tech-based infrastructure.¹

Global Tailwinds

The shift to 5G-enabled devices is well underway. 5G subscriptions worldwide are expected to surpass 1.5bn in 2023 and over 3.5bn by 2026.² Accelerated development of digital infrastructure is necessary to support this growth.

REIT Exposure

VPN invests in REITs, among other holdings, an asset class that has historically provided high income potential.

¹Statista, Jul 2022
²Statista, Jan 2023

Key Information As of 05/30/23

Inception Date	10/27/20
Total Expense Ratio	0.50%
Net Assets	$29.53 million
NAV	$13.01
Fact Sheet

ETF Summary

The Global X Data Center REITs & Digital Infrastructure ETF (VPN) seeks to invest in companies that operate data center REITs and other digital infrastructure supporting the growth of communication networks.

ETF Objective

The Global X Data Center REITs & Digital Infrastructure ETF (VPN) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Data Center REITs & Digital Infrastructure Index.

Trading Details As of 05/30/23

Ticker	VPN
Bloomberg Index Ticker	SOLVPN
CUSIP	37954Y236
ISIN	US37954Y2366
Primary Exchange	Nasdaq
Shares Outstanding	2,270,000
Number of Holdings	24
30-Day Median Bid-Ask Spread	0.94%

Distributions As of 05/30/23

30-Day SEC Yield	2.12%
Distribution Frequency	Semi-Annually

ETF Prices As of 05/30/23

NAV	$13.01	Daily Change	$0.04	0.31%
Market Price	$12.98	Daily Change	-$0.04	-0.31%

As of recent (03/31/23) As of recent (03/31/23)	Fund NAV	Market Price	Index
1 Year	-17.73%	-17.68%	-17.98%
Since Inception	-3.59%	-3.64%	-3.68%
1 Year	-14.12%	-14.51%	-14.39%
Since Inception	-3.79%	-3.99%	-3.89%
Year-to-Date	5.11%	5.29%	4.95%
1 Month	3.22%	3.06%	3.18%
3 Months	5.11%	5.29%	4.95%
Since Inception	-8.47%	-8.60%	-8.69%
Year-to-Date	4.23%	4.01%	4.07%
1 Month	-0.84%	-1.22%	-0.84%
3 Months	-5.64%	-5.81%	-5.90%
Since Inception	-9.24%	-9.72%	-9.46%

Performance is shown on a total return basis (i.e., with gross income reinvested, where applicable). Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized return is the average return gained or lost by an investment each year over a given time period.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. High short-term performance, when observed, is unusual and investors should not expect such performance to be repeated.

Net Assets (%)	Ticker	Name	SEDOL	Market Price ($)	Shares Held	Market Value ($)
13.19	EQIX	EQUINIX INC	BVLZX12	734.51	5,305	3,896,575.55
10.14	AMT	AMERICAN TOWER CORP	B7FBFL2	182.00	16,449	2,993,718.00
9.64	CCI	Crown Castle Inc	BTGQCX1	112.21	25,384	2,848,338.64
7.04	SBAC	SBA COMMUNICATIONS CORP	BZ6TS23	221.84	9,367	2,077,975.28
6.99	NXT AU	NEXTDC LTD	B5LMKP4	8.37	246,590	2,063,259.15
5.12	NVDA	NVIDIA CORP	2379504	401.11	3,773	1,513,388.03
4.74	788 HK	CHINA TOWER CORP LTD-H	BFZ2PK0	0.11	12,737,000	1,398,330.25
4.61	DLR	DIGITAL REALTY TRUST INC	B03GQS4	100.60	13,537	1,361,822.20
3.99	KDCREIT SP	KEPPEL DC REIT	BT9Q186	1.55	758,756	1,178,977.14
3.81	AMD	ADVANCED MICRO DEVICES	2007849	125.27	8,976	1,124,423.52
3.64	DBRG	DIGITALBRIDGE GROUP INC	BPW6ZP0	12.42	86,583	1,075,360.86
2.99	AVGO	BROADCOM INC	BDZ78H9	803.34	1,100	883,674.00
2.96	TOWR IJ	SARANA MENARA	BCDBLX3	0.07	13,171,061	874,554.93
2.76	2344 TT	WINBOND ELECTRONICS CORP	6966515	0.87	935,604	815,201.49
2.72	MU	MICRON TECHNOLOGY INC	2588184	71.69	11,188	802,067.72
2.65	RADI	RADIUS GLOBAL-A	BMHZYY3	14.78	52,904	781,921.12
2.44	2330 TT	TSMC	6889106	18.47	39,000	720,348.52
2.16	3189 TT	KINSUS INTERCONNECT TECH	6687872	3.77	169,500	638,871.21
2.15	INTC	INTEL CORP	2463247	29.99	21,148	634,228.52
1.96	GDS	GDS HOLDINGS LTD - ADR	BD6FLL7	10.00	57,775	577,750.00
1.77	UNIT	UNITI GROUP INC	BD6VBR1	3.74	140,078	523,891.72
1.38	TBIG IJ	TOWER BERSAMA	B4MW045	0.14	2,897,218	407,949.95
1.08		CASH		1.00	318,621	318,620.55
0.71	VNET	VNET Group Inc	B3Q0VS9	2.60	80,176	208,457.60
0.03	CYXT	CYXTERA TECHNOLOGIES INC	BKWHPJ2	0.18	44,027	7,916.05
0.00		INDONESIA RUPIAH		0.00	8	0.00
-0.66		AUSTRALIAN DOLLAR		0.65	-297,886	-194,116.66

Holdings are subject to change. "Cash" denotes U.S. dollars.

Sector Breakdown As of 04/30/23

	Sector	Weight (%)
	Real Estate	57.5
	Information Technology	29.8
	Communication Services	12.7

Source: AltaVista Research, LLC

Country Breakdown As of 04/30/23

	Country	Weight (%)
	United States	69.4
	China	9.4
	Taiwan	6.9
	Australia	5.7
	Indonesia	4.5
	Singapore	4.2

Source: AltaVista Research, LLC

ETF Characteristics As of 05/30/23

Return on Equity	13.70%
Weighted Avg. Market Cap	69,416 M
	2022	2023
Price-to-earnings	18.27	22.49
Price-to-book value	3.17	2.98

Source: AltaVista Research, LLC

ETF Risk Stats As of 04/30/23

Versus	Beta
S&P 500	0.91
NASDAQ-100	0.75
MSCI EAFE	0.84
MSCI Emg. Mkts	0.90
Standard Deviation	21.80%

Source: AltaVista Research, LLC

ETF Research

The Digital Shift and the Consolidation in Data Center and Digital Infrastructure Assets

Connectivity (Internet of Things & Digital Infrastructure)

Congress Passed the Infrastructure Investment & Jobs Act. What Does This Mean for Investors?

Latest Premium / Discount As of 05/30/23

NAV	$13.01
Market Price	$12.98
Premium / (Discount)	($0.03)

Current View 2023 Q2 As of 05/30/23

Days at Premium	7
Days at NAV	0
Days at Discount	33
Greatest Premium	0.37%
Greatest Discount	-0.85%

Daily Premium / Discount History As of 05/30/23

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How can the Fund trade at a premium/discount to its NAV?

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.

What causes these time discrepancies?

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.

Investing involves risk, including the possible loss of principal. The investable universe of companies in which VPN may invest may be limited. Data Center REITs and Digital Infrastructure Companies are subject to risks associated with the real estate market, changes in demand for wireless infrastructure and connectivity, rapid product obsolescence, government regulations, and external risks including natural disasters and cyberattacks. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from the differences in generally accepted accounting principles or from social, economic or political instability in other nations. VPN is non-diversified.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. The market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share, and do not represent the returns you would receive if you traded shares at other times. NAVs are calculated using prices as of 4:00 PM Eastern Time. Indices are unmanaged and do not include the effect of fees, expenses or sales charges. One cannot invest directly in an index.

Since the Fund’s shares typically do not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in Shares, the NAV of the Fund is used to calculate market returns.

Carefully consider the Fund’s investment objectives, risks, and charges and expenses before investing. This and other information can be found in the Fund’s summary or full prospectuses. Please read the prospectus carefully before investing.

Global X Management Company LLC serves as an advisor to Global X Funds. The Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Global X Management Company LLC or Mirae Asset Global Investments. Global X Funds are not sponsored, endorsed, issued, sold or promoted by Solactive AG, nor does Solactive AG make any representations regarding the advisability of investing in the Global X Funds. Neither SIDCO, Global X nor Mirae Asset Global Investments are affiliated with Solactive AG.

VPN

Data Center REITs & Digital Infrastructure ETF

Reasons to Consider VPN

High Growth Potential

Global Tailwinds

REIT Exposure

Key Information As of 05/30/23

ETF Summary

ETF Objective

Trading Details As of 05/30/23

Distributions As of 05/30/23

ETF Prices As of 05/30/23

Performance History

Top Holdings As of 05/30/23

Sector Breakdown As of 04/30/23

Country Breakdown As of 04/30/23

ETF Characteristics As of 05/30/23

ETF Risk Stats As of 04/30/23

ETF Research

The Digital Shift and the Consolidation in Data Center and Digital Infrastructure Assets

Connectivity (Internet of Things & Digital Infrastructure)

Congress Passed the Infrastructure Investment & Jobs Act. What Does This Mean for Investors?

ETF Documents