The Fund invests at least 80 percent of its net assets, plus borrowings for investment purposes (if any), in the securities of the Global X Defense Tech Index (the Underlying Index), which may include common stocks, American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs) based on the securities in the Underlying Index. The Fund's 80 percent investment policy is non-fundamental and requires 60 days prior written notice to shareholders before it can be changed. The Underlying Index is owned and was developed by Global X Management Company LLC (the Index Provider), an affiliate of the Fund and the Fund's investment adviser (the Adviser). The Underlying Index is administered and calculated by Mirae Asset Global Indices Pvt. Ltd. (the Index Administrator), an affiliate of the Index Provider. The Underlying Index is designed to provide exposure to defense technology (Defense Tech) companies that are positioned to benefit from technology, services, systems and hardware that cater to the defense and military sector. Specifically, the Underlying Index consists of securities issued by Defense Tech Companies, as determined by the Index Administrator.