The Fund invests at least 80 percent of its net assets, plus the amount of any borrowings for investment purposes (if any), in the securities of the Global X U.S. Cash Flow Kings 100 Index (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 large- and mid-capitalization U.S. equity securities that exhibit high free cash flow yields relative to the eligible universe of companies, as determined by the Index Administrator. Generally speaking, free cash flow is the cash a company generates after accounting for operating expenses and capital expenditures, and free cash flow yield is a financial ratio comparing the free cash flow per share a company earns against its enterprise value per share. When a company has high free cash flow yield, this indicates that the company is generating a surplus of cash, which can be utilized for paying dividends, repaying debts, buying back shares and/or investing in growth opportunities. While free cash flow yield can be a useful metric for evaluating a company, there is no guarantee that companies with high free cash flow yields will continue to maintain high free cash flow yields in the future, or that these companies will outperform companies with lower free cash flow yields.