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X SuperDividend® ETF (ticker: SDIV) Global X SuperDividend® U.S. ETF (ticker: DIV) Global X Social Media Index ETF (ticker: SOCL) Global X |

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  • Global X SuperDividend ETF (ticker: SDIV) Global X SuperDividend U.S. ETF (ticker: DIV) Global X Social Media Index ETF (ticker: SOCL)

    Global X | JPMorgan Efficiente Index ETF (ticker: EFFE) Global X | JPMorgan US Sector Rotator Index ETF (ticker: SCTO)

    Global X Permanent ETF (ticker: PERM)Global X Guru Index ETF (ticker: GURU)

    Global X Guru International Index ETF (ticker: GURI) Global X Guru Small Cap Index ETF (ticker: GURX) Global X SuperIncome Preferred ETF (ticker: SPFF)

    Annual Report

    October 31, 2014

    Global X

  • TABLE OF CONTENTS

    Global X

    Management Discussion of Fund Performance (unaudited) 1Schedules of Investments

    Global X SuperDividend ETF 15Global X SuperDividend U.S. ETF 22Global X Social Media Index ETF 25Global X | JPMorgan Efficiente Index ETF 28Global X | JPMorgan US Sector Rotator Index ETF 29Global X Permanent ETF 30Global X Guru Index ETF 35Global X Guru International Index ETF 39Global X Guru Small Cap Index ETF 43Global X SuperIncome Preferred ETF 48

    Statements of Assets and Liabilities 51Statements of Operations 54Statements of Changes in Net Assets 56Financial Highlights 62Notes to Financial Statements 63Report of Independent Registered Public Accounting Firm 78Disclosure of Fund Expenses (unaudited) 79Approval of Investment Advisory Agreement (unaudited) 81Supplemental Information (unaudited) 85Trustees and Officers of the Trust (unaudited) 86Notice to Shareholders (unaudited) 89

    The Funds file their complete schedules of Fund holdings with the Securities and Exchange Commission (the Commission) for the first and third quarters of each fiscal year on Form N-Q within sixty days after the end of the period. The Funds Forms N-Q are available on the Commissions website at http://www.sec.gov, and may be reviewed and copied at the Commission's Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. A description of the policies and procedures that Global X Funds use to determine how to vote proxies relating to Fund securities, as well as information relating to how the Funds voted proxies relating to Fund securities during the most recent 12-month period ended June 30, is available (i) without charge, upon request, by calling 1-888-GXFund-1; and (ii) on the Commissions website at http://www.sec.gov.

  • MANAGEMENT DISCUSSION OF FUND PERFORMANCE (unaudited) Global X SuperDividend ETF

    1

    Global X

    Global X SuperDividend ETF The Global X SuperDividend ETF (the Fund) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global SuperDividend Index (the Index). The Fund generally seeks to replicate the Index, but may at times invest in a representative sample of securities that collectively has an investment profile similar to the Index and as a result may or may not hold all the securities that are included in the Index. The Index tracks the performance of 100 equally weighted companies that rank among the highest dividend-yielding equity securities in the world. For the 12-month period ended October 31, 2014 (the reporting period), the Fund increased 8.41%, while the Index increased 8.02%. The Fund had a net asset value of $23.74 per share on October 31, 2013 and ended the reporting period with a net asset value of $24.24 on October 31, 2014. During the reporting period, the highest returns came from NorthStar Realty Finance and BGC Partners which returned 121.78% and 71.33%, respectively. The worst performers were Southern Cross Media Group and CTC Media, which returned -48.65% and -46.23%, respectively.

    AVERAGE TOTAL RETURN FOR THE YEAR ENDED OCTOBER 31, 2014* One Year Return Three Year Return Annualized Inception to Date

    Net Asset Value Market Price Net Asset Value Market Price Net Asset Value Market PriceGlobal X SuperDividend ETF 8.41% 8.53% 11.29% 11.56% 6.71% 6.80% Solactive Global SuperDividendTM Index 8.02% 8.02% 10.79% 10.79% 6.10% 6.10%S&P 500 Index 17.27% 17.27% 19.77% 19.77% 16.81% 16.81%

    Growth of a $10,000 Investment (at Net Asset Value)

    * The Fund commenced operations on June 8, 2011.

    The S&P 500 Index is a market capitalization weighted composite index of 500 large capitalization U.S. companies.

    The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike a Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index.

    There are no assurances that the Fund will meet its stated objectives.

    The Funds holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

    Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

    See definition of comparative indices above.

  • MANAGEMENT DISCUSSION OF FUND PERFORMANCE (unaudited) Global X SuperDividend U.S. ETF

    2

    Global X

    Global X SuperDividend U.S. ETF The Global X SuperDividend U.S. ETF (the Fund) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the INDXX SuperDividend U.S. Low Volatility Index (the Index). The Fund generally seeks to replicate the Index, but may at times invest in a representative sample of securities that collectively has an investment profile similar to the Index and as a result may or may not hold all the securities that are included in the Index. The Index tracks the performance of 50 equally weighted common stocks, master limited partnerships (MLPs) and real estate investment trusts (REITs) that rank among the highest dividend-yielding equity securities in the United States, as defined by INDXX, LLC. For the 12-month period ended October 31, 2014 (the reporting period), the Fund total return was 20.80% vs. 21.03% for the Index. The Fund had a net asset value of $25.94 per share on October 31, 2013 and ended the reporting period with a net asset value of $29.60 on October 31, 2014. During the reporting period, the highest returns came from World Wrestling Entertainment and Vector Group which returned 78.49% and 57.00%, respectively. The worst performers were American Realty Capital Properties and Natural Resource Partners, which returned -31.70% and -26.09%, respectively.

    AVERAGE TOTAL RETURN FOR THE YEAR ENDED OCTOBER 31, 2014* One Year Return Annualized Inception to Date

    Net Asset Value Market Price Net Asset Value Market Price Global X SuperDividend U.S. ETF 20.80% 20.90% 17.18% 17.75% INDXX SuperDividendTM U.S. Low Volatility Index 21.03% 21.03% 17.70% 17.70% S&P 500 Index 17.27% 17.27% 19.56% 19.56%

    Growth of a $10,000 Investment (at Net Asset Value)

    * The Fund commenced operations on March 11, 2013. Total return is for the period indicated and has not been annualized.

    The S&P 500 Index is a market capitalization weighted composite index of 500 large capitalization U.S. companies.

    The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that, when redeemed, it may be worth less than its original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund's performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike a Fund's returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index.

    There are no assurances that the Fund will meet its stated objectives.

    The Funds holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

    Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

    See definition of comparative indices above.

  • MANAGEMENT DISCUSSION OF FUND PERFORMANCE (unaudited) Global X Social Media Index ETF

    3

    Global X

    Global X Social Media Index ETF

    The Global X Social Media Index ETF (Fund) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Social Media Index (the Index). The Fund generally seeks to replicate the Index, but may at times invest in a representative sample of securities that collectively has an investment profile similar to the Index and as a result may or may not hold all the securities that are included in the Index. The Index tracks the equity performance of the largest and most liquid companies involved in the social media industry, including companies that provide social networking, file sharing, and other web-based media applications. For the 12-month period ended October 31, 2014 (the reporting period), the Fund decreased 0.41%, while the Index decreased 0.20%. The Fund had a net asset value of $19.38 per share on Oc

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