Strategy. The Fund invests at least 80% of its total assets in the securities of the MSCI All Nigeria Select 25/50 Index ("Underlying Index") and in American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs") based on the securities in the Underlying Index. As of the date of this Prospectus, the Fund is not invested in ADRs and GDRs but may do so in the future pending availability. The Fund also invests at least 80% of its total assets in securities of companies that are economically tied to Nigeria. The Fund s investments in the securities included in the Underlying Index are denominated in Naira, Nigerias currency. As discussed in more detail below in the section titled SUMMARY OF PRINCIPAL RISKS … Show more… The Fund invests at least 80% of its total assets in the securities of the MSCI All Nigeria Select 25/50 Index ("Underlying Index") and in American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs") based on the securities in the Underlying Index. As of the date of this Prospectus, the Fund is not invested in ADRs and GDRs but may do so in the future pending availability. The Fund also invests at least 80% of its total assets in securities of companies that are economically tied to Nigeria. The Fund s investments in the securities included in the Underlying Index are denominated in Naira, Nigerias currency. As discussed in more detail below in the section titled SUMMARY OF PRINCIPAL RISKS Risk of Investing in Nigeria , Naira is subject to capital controls and therefore, the Fund has experienced challenges in converting Naira into other currencies, including U.S. Dollars, which has impacted its investment in the securities of the Underlying Index. The Fund's 80% investment policies are non-fundamental and require 60 days prior written notice to shareholders before they can be changed. The Underlying Index is designed to represent the performance of the broad Nigeria equity universe, while including a minimum number of constituents, as defined by MSCI, Inc. ("MSCI"), the provider of the Underlying Index ("Index Provider"). The broad Nigeria equity universe includes securities that are classified in Nigeria according to the MSCI Global Investable Market Index Methodology, together with companies that are headquartered or listed in Nigeria and carry out the majority of their operations in Nigeria. The eligibility criteria may result in the Underlying Index including constituents that are listed in Nigeria and have substantial business activity in Nigeria, but which are headquartered and may face material risks in other jurisdictions. The Fund's investment objective and Underlying Index may be changed without shareholder approval. The Underlying Index is sponsored by the Index Provider, which is an organization that is independent of, and unaffiliated with, 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 Adviser uses a "passive" or indexing approach to try to achieve the Fund's investment objective. Unlike many investment companies, the Fund does not try to outperform 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 or disadvantageous to shareholders, such as when there are practical difficulties or substantial costs involved in compiling a portfolio of equity securities to replicate 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. 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. The Fund concentrates 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. As of December 31, 2023, the Underlying Index was concentrated in the banking industry and had significant exposure to the financials sector. Show less