Global X Hungary ETF (Prospectus Summary) | Global X Hungary ETF

Global X Hungary ETF

INVESTMENT OBJECTIVE

The Global X Hungary ETF ("Fund") seeks to provide investment results that
correspond generally to the price and yield performance, before fees and
expenses, of the Solactive Hungary Index ("Underlying Index").

FEES AND EXPENSES

This table describes the fees and expenses that you may pay if you buy and hold
shares ("Shares") of the Fund. You will also incur usual and customary brokerage
commission when buying and selling Shares.

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):

Annual Fund Operating Expenses		Global X Hungary ETF
Management Fees:		0.68%
Distribution and Service (12b-1) Fees:		none
Custody Fees	[1]	0.10%
Other Expenses	[1]	0.02%
Total Annual Fund Operating Expenses:		0.80%
Fee Waiver and/or Expense Reimbursement:	[2]	(0.05%)
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement:	[2]	0.75%

Example:

The following example is intended to help you compare the cost of
investing in the Fund with the cost of investing in other funds. This example
does not take into account customary brokerage commissions that you pay when
purchasing or selling Shares of the Fund in the secondary market. The example
assumes that you invest $10,000 in the Fund for the time periods indicated and
then sell all of your Shares at the end of those periods. The example also
assumes that your investment has a 5% return each year and that the Fund's
operating expenses remain the same. Although your actual costs may be higher or
lower, based on these assumptions, your costs would be:

Expense Example (USD $)	Expense Example, With Redemption, 1 Year	Expense Example, With Redemption, 3 Years
Global X Hungary ETF	77	240

Portfolio Turnover:

The Fund pays transaction costs, such as commissions, when
it buys and sells securities (or "turns over" its portfolio). A higher portfolio
turnover rate may indicate higher transaction costs and may result in higher
taxes when Shares are held in a taxable account. These costs, which are not
reflected in annual fund operating expenses or in the example, affect the Fund's
performance. The Fund had not yet commenced investment operations as of the most
recent fiscal year end. Thus, no portfolio turnover rate is provided for the
Fund.

PRINCIPAL INVESTMENT STRATEGIES

The Fund will invest at least 80% of its total assets in the securities of the
Underlying Index and in ADRs and GDRs based on the securities in the Underlying
Index. The Fund will invest at least 80% of its total assets in securities on
companies that are domiciled in, principally traded in or whose revenues are
primarily from Hungary.  The Fund's 80% investment policy is non-fundamental and
requires 60 days' prior written notice to shareholders before it can be changed.

The Underlying Index is designed to reflect broad based equity market
performance in Hungary. As of September 1, 2011, the Underlying Index had 25
constituents. The Fund's investment objective and Underlying Index may be
changed without shareholder approval.

The Underlying Index is sponsored by an organization ("Index Provider") that is
independent of the Fund and Global X Management Company LLC, the investment
adviser for the Fund ("Adviser"). The Index Provider determines the relative
weightings of the securities in the Underlying Index and publishes information
regarding the market value of the Underlying Index. The Fund's Index Provider is
Structured Solutions AG.

The Adviser will use a "passive" or indexing approach to try to achieve the
Fund's investment objective. Unlike many investment companies, the Fund does not
try to "beat" the Underlying 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 Underlying
Index in approximately the same proportions as in the Underlying Index. However,
the Fund may utilize a representative sampling strategy with respect to the
Underlying Index when a replication strategy might be detrimental to
shareholders, such as when there are practical difficulties or substantial costs
involved in compiling a portfolio of equity securities to follow the Underlying
Index, in instances in which a security in the Underlying Index becomes
temporarily illiquid, unavailable or less liquid, or as a result of legal
restrictions or limitations (such as tax diversification requirements) that
apply to the Fund but not the Underlying Index.

Correlation: Correlation is the extent to which the values of different types of
investments move in tandem with one another in response to changing economic and
market conditions. An index is a theoretical financial calculation, while the
Fund is an actual investment portfolio. The performance of the Fund and the
Underlying Index may vary somewhat due to transaction costs, asset valuations,
foreign currency valuations, market impact, corporate actions (such as mergers
and spin-offs), legal restrictions or limitations, illiquid or unavailable
securities, and timing variances.

The Adviser expects that, over time, the correlation between the Fund's
performance and that of the Underlying Index, before fees and expenses, will
exceed 95%. A correlation percentage of 100% would indicate perfect
correlation. If the Fund uses a replication strategy, it can be expected to have
greater correlation to the Underlying Index than if it uses a representative
sampling strategy.

Industry Concentration Policy: The Fund will concentrate its investments (i.e.,
holds 25% or more of its total assets) in a particular industry or group of
industries to approximately the same extent that the Underlying Index is
concentrated.

SUMMARY OF PRINCIPAL RISKS

As with any investment, you could lose all or part of your investment in the
Fund, and the Fund's performance could trail that of other investments. The Fund
is subject to the principal risks noted below, any of which may adversely affect
the Fund's net asset value ("NAV"), trading price, yield, total return and
ability to meet its investment objective, as well as other risks that are
described in greater detail in the Additional Information About the Fund's
Strategies and Risks section of the Prospectus and in the Statement of
Additional Information ("SAI").

Asset Class Risk: Securities in the Underlying Index or the Fund's portfolio may
underperform in comparison to the general securities markets or other asset
classes.

Concentration Risk: Because the Fund's investments are concentrated in Hungarian
securities, the Fund will be susceptible to loss due to adverse occurrences
affecting that country or market.

Currency Risk: The Fund may invest in securities denominated in foreign
currencies. Because the Fund's NAV is determined in U.S. dollars, the Fund's NAV
could decline if a foreign currency depreciates against the U.S. dollar.

Custody Risk: Less developed markets are more likely to experience problems with
the clearing and settling of trades.

Emerging Market Risk: Hungary is an emerging market country, which may be
subject to a greater risk of loss than investments in developed markets.

Equity Securities Risk: Equity securities are subject to changes in value and
their values may be more volatile than other asset classes.

European Economic Risk: The economies of Europe are highly dependent on each
other, both as key trading partners and as in many cases as fellow members
maintaining the euro. Reduction in trading activity among European countries may
cause an adverse impact on each nation's individual economies. The European
financial markets have recently experienced volatility and adverse trends due to
concerns about rising government debt levels, ability to service debt, and
potential for defaults of several European countries, including Greece, Spain,
Ireland, Italy and Portugal.

Foreign Security Risk: Investments in the securities of foreign issuers
(including investments in ADRs and GDRs) are subject to the risks associated
with investing in those foreign markets, such as heightened risks of inflation
or nationalization. In addition, securities of foreign issuers may lose value
due to political, economic and geographic events affecting a foreign issuer or
market. During periods of social, political or economic instability in a country
or region, the value of a foreign security traded on United States' exchanges,
nonetheless, could be affected by, among other things, increasing price
volatility, illiquidity, or the closure of the primary market on which the
security underlying the ADR or GDR is traded. You may lose money due to
political, economic and geographic events affecting a foreign issuer or
market. The Fund is particularly exposed to European Economic Risk.

Geographic Risk: A natural disaster could occur in Hungary.

Government Debt Risk: Hungary currently has high levels of debt and public
spending, which may stifle economic growth, contribute to prolonged periods of
recession or lower Hungary's sovereign debt rating and adversely impact
investments in the Fund.

Issuer Risk: Fund performance depends on the performance of individual companies
in which the Fund invests. Changes to the financial condition of any of those
companies may cause the value of their securities to decline.

Management Risk: The Fund is subject to the risk that the Adviser's investment
management strategy may not produce the intended results.

Market Risk: The Fund's NAV could decline over short periods due to short-term
market movements and over longer periods during market downturns.

Market Trading Risks: The Fund faces numerous market trading risks, including
the potential lack of an active market for Shares, losses from trading in
secondary markets, and disruption in the creation/redemption process of the
Fund. Any of these factors may lead to the Shares trading at a premium or
discount to NAV.

Non-Diversification Risk: The Fund may invest a large percentage of its assets
in securities issued by or representing a small number of issuers. As a result,
the Fund's performance may depend on the performance of a small number of
issuers.

Passive Investment Risk: The Fund is not actively managed and the Adviser does
not attempt to take defensive positions in declining markets.


Risks Related to Investing in Hungary: Investments are concentrated in companies
in Hungary. Hungary has suffered significantly from the recent economic
recession due to a high dependence on foreign capital to finance its economy and
some of the highest public debt levels in Europe. Key structural weaknesses such
as a high and persistent unemployment rate are also hindering the growth of the
economy, and labor reforms may be needed to resolve issues that exist in the
labor market.

Securities Lending Risk: Securities lending involves the risk that the Fund
loses money because the borrower fails to return the securities in a timely
manner or at all. The Fund could also lose money in the event of a decline in
the value of the collateral provided for loaned securities or of investments
made with cash collateral. These events could also trigger adverse tax
consequences for the Fund. As securities on loan may not be voted by the Fund,
there is a risk that the Fund may not be able to recall the securities in
sufficient time to vote on material proxy matters.

Securities Market Risk: Because securities markets in Hungary are small in size,
underdeveloped and are less regulated and less correlated to global economic
cycles than those markets located in more developed countries, the securities
markets in Hungary are subject to greater risks associated with market
volatility, lower market capitalization, lower trading volume, illiquidity,
inflation, greater price fluctuations and uncertainty regarding the existence of
trading markets. Increase volatility in the Hungarian market may result in the
increase use of fair value pricing.

Small- and Mid-Capitalization Companies Risk: Small- and mid-capitalization
companies often have greater price volatility, lower trading volume and less
liquidity than larger more established companies. In addition, these companies
are often subject to less analyst coverage and may be in early and less
predictable periods of their corporate existences. These companies tend to have
smaller revenues, narrower product lines, less management depth and experience,
smaller shares of their product or service markets, fewer financial resources
and less competitive strength than larger companies.

Tracking Error Risk: The performance of the Fund may diverge from that of the
Underlying Index.

Valuation Risk: The value of the securities in the Fund's portfolio may change
on days when shareholders will not be able to purchase or sell the Fund's
Shares.

PERFORMANCE INFORMATION

The Fund does not have a full calendar year of performance. Thus, no bar chart
or Average Annual Total Returns table is included for the Fund.

[1] "Other Expenses" reflect estimated expenses for the Fund's first fiscal year.

[2] Pursuant to an Expense Limitation Agreement, the Adviser has agreed to reimburse or waive fees and/or limit Fund expenses to the extent necessary to assure that the operating expenses of the Fund (exclusive of taxes and governmental fees, brokerage fees, commissions, and other transaction expenses, dividend expenses, borrowing costs, and extraordinary expenses) will not exceed 0.75% of the Fund's average daily net assets per year until at least April 1, 2013. Pursuant to the Expense Limitation Agreement, the Fund (at a later date) may reimburse the Adviser for the fees it reimbursed or waived and/or limited pursuant to the Expense Limitation Agreement during any of the prior three fiscal years, provided that, among other things, reimbursement to be made to the Adviser does not cause Total Annual Fund Operating Expenses of the Fund to exceed 0.75% during the year in which it is paid and the Board of Trustees has approved in advance such reimbursement to the Adviser. The Expense Limitation Agreement may only be amended or terminated prior to April 1, 2013 by action of the Board of Trustees of the Fund.