Fund Description: Global X Variable Rate Preferred ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Global X Funds, an open-end investment management company. <p> INVESTMENT OBJECTIVE: The Global X Variable Rate Preferred ETF seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the ICE U.S. Variable Rate Preferred Securities Index. <p> INDEX DESCRIPTION: The ICE U.S. Variable Rate Preferred Securities Index is designed to track the broad-based performance of the U.S.-listed variable rate preferred securities market. Qualifying preferred securities must be listed on a U.S. exchange, denominated in U.S. dollars, have floating or variable dividends or coupons, and have a minimum amount outstanding of $50 million. Qualifying preferred securities may, however, be issued by non-U.S. companies. Qualifying securities must be issued in $25, $50, $100, or $1000 par/liquidation preference increments, must have a traded market value of greater than $6 million in each of the previous three calendar months, and must have at least one year remaining to maturity. Constituents in the Index are capitalization-weighted based and may include large-, mid- or small-capitalization companies. Components of the Index primarily include financials. <p> FUND STRATEGY: A passive or indexing approach is used to try to achieve the Fund’s investment objective. Unlike many investment companies, the Fund does not try to outperform the Index and does not seek temporary defensive positions when markets decline or appear overvalued. The Fund generally will use a replication strategy. A replication strategy is an indexing strategy that involves investing in the securities of the Index in approximately the same proportions as in the Index. The Fund invests at least 80% of its total assets, plus borrowings for investments purposes (if any), in the securities of the Index and in American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs") based on the securities in the Index. <p> FUND MANAGEMENT: Global X Management Company LLC will serve as the Fund's Investment Adviser.