Global X Select ETFs – October 2026 - Global X ETFs Hong Kong

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  • The investment objective of Global X US Treasury 0-3 Moth ETF (the “Fund”) is to provide investment results that, before fees and expenses, closely correspond to the performance of the ICE 0-3 Month US Treasury Bill Index (the “Index”).
  • The Fund is exposed to the Credit/Default risk of issuers of the fixed income securities that the Fund may invest in; the Credit Rating risk that Credit ratings assigned by rating agencies are subject to limitations and do not guarantee the creditworthiness of the security and/or issuer at all times; the Interest Rate risk that the prices of fixed income securities rise when interest rates fall, whilst their prices fall when interest rates rise; the Downgrading risk that the Manager may or may not be able to dispose of the fixed incomes securities that are being downgraded; the Sovereign Debt risk that the Fund’s investment in US Treasury securities may be exposed to political, social and economic risks; the Valuation risk that the Fund’s investments may involve uncertainties and judgemental determinations. If such valuation turns out to be incorrect, this may affect the Net Asset Value calculation of the Fund.
  • The Index is a new index. The Index has minimal operating history by which investors can evaluate its previous performance. There can be no assurance as to the performance of the Index. The Fund may be riskier than other exchange traded funds tracking more established indices with longer operating history.
  • The Index is subject to concentration risk as a result of tracking the performance of a single geographical region, namely the United States, and is concentrated in debt securities of a single issuer, namely the US Treasury. The Fund’s value may be more volatile than that of a fund having a more diverse portfolio and may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting the United States market.
  • The base currency of the Fund is USD but one of the trading currencies of the Fund is in HKD. The Net Asset Value of the Fund and its performance may be affected unfavourably by fluctuations in the exchange rates between these currencies and the base currency and by changes in exchange rate controls.
  • The borrower may fail to return the securities in a timely manner or at all. The Fund may as a result suffer from a loss or delay when recovering the securities lent out. This may restrict the Fund’s ability in meeting delivery or payment obligations from redemption requests. As part of the securities lending transactions, the Fund must receive cash collateral of at least 100% of the valuation of the securities lent valued on a daily basis. However, there is a risk of shortfall of collateral value due to inaccurate pricing of the securities lent or change of value of securities lent. This may cause significant losses to the Fund.
  • The trading price of the Shares on the SEHK is driven by market factors such as the demand and supply of the Shares. Therefore, the Shares may trade at a substantial premium or discount to the Fund’s Net Asset Value.
  • Payments of distributions out of capital or effectively out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. Any such distributions may result in an immediate reduction in the Net Asset Value per Share of the Fund and will reduce the capital available for future investment.
  • The investment objective of the Global X Copper Miners ETF (the “Fund”) is to provide investment results that, before fees and expenses, closely correspond to the performance of the Solactive Copper Miners Index (the “Index”).
  • The Index is a new index and has minimal operating history by which investors can evaluate its previous performance. The Fund may be riskier than other exchange traded funds tracking more established indices with longer operating history.
  • The Index constituents may be concentrated in copper ore mining and/or copper-derived structural shape manufacturing, which may potentially be more volatile than a fund with a diversified portfolio.
  • The Fund may invest in small and/or mid-sized companies, which may have lower liquidity and their prices are more volatile to adverse economic developments.
  • Investment in Emerging Market may involve increased risks and special considerations not typically associated with investments in more developed markets, such as liquidity risk, currency risks, political uncertainties, legal and taxation risks, and the likelihood of a high degree of volatility.
  • The base currency of the Fund is USD but the trading currencies of the Fund are in HKD and USD. The NAV of the Fund and its performance may be affected by fluctuations in the exchange rates between these currencies and the base currency and by changes in exchange rate controls.
  • The trading price of the Fund’s unit on the SEHK is driven by secondary market trading factors, which may lead to a substantial premium or discount to the Fund’s net asset value.
  • The Manager may at its discretion pay dividends out of the capital of the Fund. Distributions paid out of capital, represent a return of an investor’s original investment or its gains and may potentially reduce the Fund’s Net Asset Value per Share as well as the capital available for future investment.
  • The Fund may suffer from losses or delays when recovering the securities lent out. This may potentially affect its ability to meet payment and redemption obligations. Collateral shortfalls due to inaccurate pricing or change of value of securities lent, may cause significant losses to the Fund.
  • The investment objective of Global X Gold Covered Call Active ETF (the “Fund”)* (*This is a synthetic ETF) is to generate income by primarily providing exposure to gold futures and/or exchange traded funds tracking the price of gold (collectively, the “Gold Performance”) with a covered call strategy. The Fund will use a synthetic investment strategy by investing up to 100% of its Net Asset Value in fully funded total return swaps.
  • This synthetic investment strategy exposes the Fund to counterparty risk including under collateralisation risk, default risk, intra-day counterparty risk, early termination of swaps risk and change of swap fees risk.
  • The Fund invests more than 50% and up to 100% of its Net Asset Value in FDIs. Associated risks include counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk.
  • The Fund employs an actively managed investment strategy. The Fund may fail to meet its objective as a result of the implementation of investment process which may cause the Fund to underperform as compared to direct investments in the constituent equity securities of the Reference Index.
  • The Fund’s opportunity to benefit from the increases in the Gold Performance will be limited the strike price of the referenced Gold Call Options plus the notional premium. In rapidly rising markets, this limitation may result in the Fund underperforming the Gold Performance. Conversely, the Fund remains exposed to declines in the Gold Performance, as the covered call strategy embedded in the swap does not provide full downside protection.
  • If the fund is unable to obtain sufficient exposure to Gold Performance due to the limited availability of swaps, the Fund may suspend creations, which could cause the Fund to trade at a significant premium or discount.
  • The investments of the Sub-Fund are concentrated in the performance of gold generally and will result in large concentration risk.
  • Potential conflicts of interest may arise as the Manager and one of the Swap Counterparties are members of the same group.
  • The markets on which the gold futures, Gold ETFs and listed Gold Call Options are traded and the SEHK may have different trading hours. The Fund’s value may change on days when investors will not be able to purchase or sell the Fund’s Shares.
  • The trading price of the Fund’s unit on the SEHK is driven by secondary market trading factors, which may lead to a substantial premium or discount to the Fund’s net asset value.
  • The Fund may be terminated early under certain circumstances (e.g., if NAV falls below HK$50 million), which could result in a loss of investment.
  • The Manager may at its discretion pay dividends out of the capital of the Fund. Distributions paid out of capital, represent a return of an investor’s original investment or its gains and may potentially reduce the Fund’s Net Asset Value per Share as well as the capital available for future investment.
  • The investment objective of Global X Hang Seng High Dividend Yield Enhanced Income ETF (the “Fund”) is to achieve income and long-term capital appreciation by (i) investing in constituent equity securities in the Hang Seng High Dividend Yield Index (the “Reference Index”) and/or units of the Global X Hang Seng High Dividend Yield ETF (the “Reference ETF”) and (ii) selling (i.e. “writing”) call options on the Hang Seng Index and/or Hang Seng China Enterprises Index (“HSI/HSCEI”) to receive payments of money from the purchaser of call options (i.e. “premium”).
  • The Fund employs an actively managed investment strategy. The Fund may fail to meet its objective as a result of the implementation of investment process which may cause the Fund to underperform as compared to direct investments in the constituent equity securities of the Reference Index.
  • The Fund invests substantially in the Reference ETF, and it may also be subject to the risks associated with the Reference ETF’s investments.
  • The Fund’s ability to utilise Reference Index Call Options successfully will depend on the ability of the Manager to correctly predict future price fluctuations. If a Reference Index Call Option expires and if the Reference Index declines during the option period, the premiums received may not be sufficient to offset the loss realised.
  • The use of futures contracts involves market risk, volatility risk, leverage risk and negative roll yields and “contango” risk.
  • Investing in Reference Index Futures and writing Reference Index Call Options generally involve the posting of margin. If the Fund is unable to meet its investment objective as a result of margin requirements imposed by the HKFE, the SEHK and/or the Fund’s broker, the Fund may experience significant losses.
  • To the extent that the constituent securities of Reference Index are concentrated in securities of a particular sector or market, the investments of it may be similarly concentrated.
  • The Fund may suffer from losses or delays when recovering the securities lent out. This may potentially affect its ability to meet payment and redemption obligations. Collateral shortfalls due to inaccurate pricing or change of value of securities lent, may cause significant losses to the Fund.
  • The Manager may at its discretion pay dividends out of the capital of the Fund. Distributions paid out of capital, represent a return of an investor’s original investment or its gains and may potentially reduce the Fund’s Net Asset Value per Share as well as the capital available for future investment.
  • The ETFs in which the Fund may invest may be managed by the Manager or its Connected Persons, and potential conflicts of interest may arise.
  • The trading price of the Fund’s unit on the SEHK is driven by secondary market trading factors, which may lead to a substantial premium or discount to the Fund’s net asset value.
  • The investment objective of Global X China Semiconductor ETF (the “Fund”) is to provide investment results that, before fees and expenses, closely correspond to the performance of the FactSet China Semiconductor Index.
  • The Fund is exposed to concentration risk by tracking a single region or country.
  • The Index constituents may be concentrated in a specific industry or sector, which may potentially more volatile than a fund with a diversified portfolio.
  • Semiconductor industry may be affected by particular economic or market events, such as domestic and international competition pressures, rapid obsolescence of products, the economic performance of the customers of semiconductor companies and capital equipment expenditures.
  • Investment in Emerging Market, such as A-share market, may involve increased risks and special considerations not typically associated with investments in more developed markets, such as liquidity risk, currency risks, political risk, legal and taxation risks, and the likelihood of a high degree of volatility.
  • The Stock Connect is subject to quota limitations. Where a suspension in the trading through the Stock Connect is effected, the Sub-Fund’s ability to invest in A-Shares or access Mainland China markets through the programme will be adversely affected.
  • Listed companies on the ChiNext market and/or STAR Board are usually subject to higher fluctuation in stock prices and liquidity risks, over-valuation risk, differences in regulation, delisting risk, and concentration risk.
  • There are risks and uncertainties associated with the current Mainland China tax laws, regulations and practice in respect of capital gains realized via Stock Connect on the Fund’s investments in Mainland China. Any increased tax liabilities on the Fund may adversely affect the Fund’s value.
  • The trading price of the Fund’s unit on the SEHK is driven by secondary market trading factors, which may lead to a substantial premium or discount to the Fund’s net asset value.
  • The Fund’s synthetic replication strategy may invest up to 50% of its net asset value in financial derivative instruments (“FDIs”), which may expose the Fund to counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. The Fund may suffer losses from its usage of FDIs.
  • The Manager may at its discretion pay dividends out of the capital of the Fund. Distributions paid out of capital, represent a return of an investor’s original investment or its gains and may potentially reduce the Fund’s Net Asset Value per Share as well as the capital available for future investment.
  • The Fund may suffer from a losses or delays when recovering the securities lent out. This may potentially affect its ability to meet payment and redemption obligations. Collateral shortfalls due to inaccurate pricing or change of value of securities lent, may cause significant losses to the Fund.
  • The investment objective of Global X China Biotech ETF (the “Fund”) is to provide investment results that, before fees and expenses, closely correspond to the performance of the Solactive China Biotech Index.
  • The Fund is exposed to concentration risk by tracking a single region or country.
  • The Index constituents may be concentrated in a specific industry or sector, which may potentially more volatile than a fund with a diversified portfolio.
  • Biotech companies invest heavily in research and development which may not necessarily lead to commercially successful products, and the ability for biotech companies to obtain regulatory approval (for example, product approval) may be long and costly.
  • Investment in Emerging Market, such as A-share market, may involve increased risks and special considerations not typically associated with investments in more developed markets, such as liquidity risk, currency risks, political risk, legal and taxation risks, and the likelihood of a high degree of volatility.
  • The Stock Connect is subject to quota limitations. Where a suspension in the trading through the Stock Connect is effected, the Sub-Fund’s ability to invest in A-Shares or access Mainland China markets through the programme will be adversely affected.
  • Listed companies on the ChiNext market and/or STAR Board are usually subject to higher fluctuation in stock prices and liquidity risks, over-valuation risk, differences in regulation, delisting risk, and concentration risk.
  • There are risks and uncertainties associated with the current Mainland China tax laws, regulations and practice in respect of capital gains realized via Stock Connect on the Fund’s investments in Mainland China. Any increased tax liabilities on the Fund may adversely affect the Fund’s value.
  • The trading price of the Fund’s unit on the SEHK is driven by secondary market trading factors, which may lead to a substantial premium or discount to the Fund’s net asset value.
  • The Fund’s synthetic replication strategy may invest up to 50% of its net asset value in financial derivative instruments (“FDIs”), which may expose the Fund to counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. The Fund may suffer losses from its usage of FDIs.
  • The Manager may at its discretion pay dividends out of the capital of the Fund. Distributions paid out of capital, represent a return of an investor’s original investment or its gains and may potentially reduce the Fund’s Net Asset Value per Share as well as the capital available for future investment.
  • The Fund may suffer from a losses or delays when recovering the securities lent out. This may potentially affect its ability to meet payment and redemption obligations. Collateral shortfalls due to inaccurate pricing or change of value of securities lent, may cause significant losses to the Fund.
  • The investment objective of the Global X KOSPI 200 ETF (the “Fund”) is to provide investment results that, before fees and expenses, closely correspond to the performance of the KOSPI 200 Index.
  • The Fund is exposed to concentration risk by tracking a specific region or country (South Korea). The value of the Fund may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory events affecting the South Korean market.
  • The Korean market is subject to high volatility as a result of high retail trading participation, as well as sudden regulatory shifts and shifts in market sentiment. Trading in the Korean market is also subject to circuit breakers and daily price limits.
  • The underlying index of the Fund is heavily concentrated in its top two constituents (i.e. Samsung Electronics Co., Ltd. and SK Hynix Inc., which may account for more than 50% of this product’s Net Asset Value) which are of the same sector (i.e. the electronics and technology hardware industry, focusing on the semiconductor business), making the Fund potentially more volatile than a fund with a diversified portfolio.
  • The constituents of the Index include large- or mega-capitalisation companies, which may be subject to slower growth during times of economic expansion and may struggle with flexibility to respond quickly to disruptions and changes in trends.
  • The base currency of the Fund is KRW but the trading currency of the Fund is in HKD and USD. The NAV of the Fund and its performance may be affected by fluctuations in the exchange rates between these currencies and the base currency and by changes in exchange rate controls.
  • The trading price of the Fund’s unit on the SEHK is driven by secondary market trading factors, which may lead to a substantial premium or discount to the Fund’s net asset value.
  • The Manager may at its discretion pay dividends out of the capital of the Fund. Distributions paid out of capital, represent a return of an investor’s original investment or its gains and may potentially reduce the Fund’s Net Asset Value per Share as well as the capital available for future investment.
  • The Fund may suffer from losses or delays when recovering the securities lent out. This may potentially affect its ability to meet payment and redemption obligations. Collateral shortfalls due to inaccurate pricing or change of value of securities lent, may cause significant losses to the Fund.
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Global X Select ETFs – October 2026

By: Global X HK ETF Research

We have selected the following funds for our Monthly Select ETFs.

Global X ETF name Investment Points
Global X US Treasury 0-3 Month ETF (3440) Short-duration T-bills offer risk-adjusted returns with minimal duration risk, serving as an essential portfolio protection amid lingering macro uncertainty.
Global X Copper Miners ETF (3014) AI-driven power grid expansion continues to underpin structural copper demand, while mine supply remains highly inelastic with new projects requiring over 15 years to develop and difficult to find high-quality green field project.
Global X Gold Covered Call Active ETF* (3533)
(*This is a synthetic ETF)
It overlays an active covered call strategy onto gold to transform a zero-yield USD macro hedge into steady monthly income and provides downside buffering when the gold price falls.
Global X Hang Seng High Dividend Yield Enhanced Income ETF (3555) It enhances income by writing index options on about 30% – 50% of its underlying holdings aiming to deliver a higher distribution yield. This partial covered call strategy generates high yield while preserving long-term equity upside during market rallies.
Global X China Semiconductor ETF (3191) Driven by tightening U.S. export restrictions and self-sufficiency mandate, China’s domestic semiconductor industry is undergoing an unprecedented domestic substitution cycle. It captures the policy-backed growth across premier local equipment manufacturers, foundries, and design houses.
Global X China Biotech ETF (2820) Surging out-licensing momentum underscores the global competitiveness of Chinese biotech, while the licensing model effectively insulates assets from direct US regulatory risks.
Global X KOSPI 200 ETF (3408) Korean equities trade at a deep structural discount to global peers, with corporate governance reforms and AI/semiconductor exposure offering compelling re-rating upside.

 

Theme 1: Navigating a High-Yield US Rate Environment

Global X US Treasury 0-3 Month ETF (3440 HK)

3440 HK serves as an ultra-short-duration U.S. Treasury vehicle, delivering a yield of up to 4.0% according to FactSet. While long-term Treasury yields remain historically elevated, near multi-decade high due to concerns over expanding US fiscal debt, sticky inflation, and monetary policy uncertainty, the short end of the curve may offer competitive income with relatively low duration risk.

Theme 2: Hedging USD

The primary driver of elevated US yields rests on persistent concerns surrounding escalating US fiscal debt and sticky inflation. These macroeconomic headwinds may put downward pressure on the US Dollar, forcing investors to seek viable alternatives to traditional USD-denominated assets.

Below, we highlight a few ideas designed to hedge against potential USD weakness.

Global X Gold Covered Call Active ETF* (3533 HK)(*This is a synthetic ETF)

Holding gold is a consensus hedge for preserving real purchasing power and protecting portfolios against USD depreciation.

However, traditional physical gold carries an inherent drawback: it generates no dividends or interest income. The Global X Gold Covered Call Active ETF* (3533 HK)(*This is a synthetic ETF) addresses this limitation by transforming a zero-yield hedge into a competitive income engine. The fund delivered an average monthly distribution yield exceeding 1% (Distribution rate is not guaranteed. Distribution may be made out of capital 1) in its first four months since its early 2026 launch.

While monetizing gold’s implied volatility provides investors with a relatively high-yielding defence against a weakening US dollar, investors should recognize the embedded trade-off: in exchange for cash flow and downside buffering, the option overlay caps capital appreciation during aggressive gold price surges.

Global X Copper Miners ETF (3014 HK)

As macroeconomic uncertainty persists, holding real assets like copper serves as a consensus hedge against sticky inflation and long-term USD depreciation, while capturing secular demand from AI data center expansion, power grid modernization, and the global energy transition.

Unlike other battery metals such as lithium, cobalt, and nickel—which feature highly elastic supply dynamics, vast unmined reserves, and structural displacement risks from shifting battery chemistries—copper faces severe, inelastic supply constraints. Having been heavily mined for over 150 years, high-quality copper deposits are virtually exhausted, and new projects require extensive lead times with no viable material substitutes available.

The Global X Copper Miners ETF (3014 HK) leverages these supply-demand fundamentals by providing targeted equity exposure to global miners whose revenues and underlying cash flows directly benefit from relatively high physical copper prices—delivering a real-asset growth engine that protects purchasing power without exposing portfolios to long-term fixed income duration risk.

Global X Hang Seng High Dividend Yield Enhanced Income ETF (3555 HK)

The Global X Hang Seng High Dividend Yield Enhanced Income ETF (3555 HK) features a unique design. It combines high-dividend equities with a partial covered call overlay—writing index call options on 30% to 50% of the portfolio—to boost overall cash distribution through dividends and option premiums while lowering volatility.

Crucially, as its underlying holdings consist of RMB-denominated and high dividend assets, this portfolio also serves as a currency hedge against potential long-term USD depreciation.

Theme 3: High Tech

Global X China Biotech ETF (2820 HK)

The biotech sector’s operational momentum has continued to build. CCTV reported on Sep 22 that new drug out-licensing deals have surpassed USD 120 billion year to date, exceeding the full-year total for 2025 and validating the global competitiveness of Chinese-developed novel medicines.

The out-licensing model remains the key structural advantage. These transactions provide a powerful geopolitical buffer: because the underlying assets become legally owned and commercialised by US and European pharmaceutical companies, direct regulatory action against Chinese developers becomes economically self-destructive for Western pharma. The licensing-out model thus neutralises the primary tail risk.

The legal landscape has also continued to improve. Following WuXi AppTec’s successful preliminary injunction against the US Department of Defence’s designation in August, the broader regulatory overhang on Chinese contract research and manufacturing organisations has eased. While headline noise from Washington will inevitably persist, the structural pathway for Chinese biotech companies to monetise their innovation globally remains open.

Global X China Semiconductor ETF (3191 HK)

Providing concentrated exposure to China’s domestic semiconductor supply chain—including foundries, fabless design houses, and equipment manufacturers—this fund benefits from a strengthening structural investment thesis driven by tightening U.S. export controls on advanced node equipment and technologies. Rather than hindering the sector, these restrictions have supercharged Beijing’s resolve to reach an ambitious 80% overall chip self-sufficiency target set by 13 top company leaders, backed by the National Integrated Circuit Industry Investment Fund (“Big Fund”) Phase III’s deployment of over RMB 344 billion into local ecosystem players.

Global X KOSPI 200 ETF (3408 HK)

This ETF provides cost-efficient exposure to South Korea’s benchmark index, positioning investors to capture the secular AI infrastructure super-cycle.

Anchored by market leaders Samsung Electronics and SK Hynix, the portfolio allocates roughly 60% of its total weight to the semiconductor sector, effectively exhibiting a targeted technology profile.

More crucially, because fundamental corporate earnings growth has significantly outpaced recent share price appreciation, the index trades at relatively low valuation multiples.

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