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.

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.

ZAP seeks to invest in companies that stand to benefit from the increased electricity demand and electrification within the United States, including those involved in electricity generation, transmission, and distribution, and the modernization of grid infrastructure and smart grid technology.

CTEC seeks to invest in companies that stand to benefit from the increased adoption of technologies that inhibit or reduce negative environmental impacts, including those involved in renewable energy production, energy storage, smart grid implementation, and energy efficiency.

AQWA can complement broad equity allocations by delivering targeted, exposure to companies across the clean water value chain, rather than offering investments in larger industrials or utilities conglomerates where water-related businesses may be underrepresented.

We believe AQWA may potentially position portfolios for long-term capital deployment tied to global water security and efficiency.

Access to clean water remains a critical global challenge, and demand is rising.¹ Future supplies could be further impacted by overuse, climate change, and inadequate infrastructure.

As supply-demand dynamics shift, investment in clean water technologies may be essential to improving standards of living and supporting water use across a wide range of applications. 

Clean water is a dynamic theme, supporting a long-term challenge of providing safe and accessible water sources. AQWA invests accordingly, with global exposure across multiple sectors and industries.

¹UN-Water. (2026, March 19). UN World Water Development Report 2026.

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.

The growing water supply/demand imbalance will require significant investment, potentially benefitting companies throughout the clean water value chain.

Three recent and notable climate change reports reaffirmed our conviction in the likely positive long-term outlooks for clean energy investment themes.

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