Fund Description: Global X DAX Germany ETF, formerly Recon Capital DAX Germany ETF, is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Recon Capital Series Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The Global X DAX Germany ETF seeks to provide investment results that will closely correspond, before fees and expenses, generally to the price and yield performance of the DAX Index. INDEX DESCRIPTION: The DAX Index tracks the segment of the largest and most actively traded companies, known as blue chips, on the German equities market. The Index contains the shares of the 30 largest German companies in terms of liquidity and market capitalization admitted to the Frankfurt Stock Exchange in the Prime Standard segment. The 30 stocks contained in the Index represents about 80% of the market capitalization listed in Germany. FUND STRATEGY: Using a passive or indexing investment approach, the Fund seeks to achieve its investment objective to track the performance of the Index. The Fund will invest at least 80% of its total assets in the common stock of companies included in its benchmark index (80% Policy). The Fund employs a replication strategy to track the Index, which means it invests in the common stock included in the Index generally in proportion to its weighting in the Index. However, under various circumstances, it may not be possible or practicable to purchase all of those securities in those weightings. In these circumstances, the Fund may purchase a sample of securities in the Index. There also may be instances in which the Adviser may choose to underweight or overweight a security in the Fund’s Index, purchase securities not in the Fund’s Index that the Adviser believes are appropriate to substitute for certain securities in the Index or utilize various combinations of other available investment techniques in seeking to replicate as closely as possible the yield performance of the Fund’s Index. FUND MANAGEMENT: Global X Management Company LLC. serves as the investment adviser to the Fund.