The folks at New York City-based ETF shop Global X Funds on Wednesday continued their string of product launches with the rollout of Global X Canada Preferred ETF. [SEC filing] Company officials pitch the product as the first ETF that focuses on Canadian firms that issue preferred stock.

The ETF, which comes with an expense ratio of 58 basis points, is the 15th product that Global X has launched this year.

Company Press Release

GLOBAL X FUNDS LAUNCHES FIRST CANADA PREFERRED ETF (CNPF)

NEW YORK � May 25, 2011 � Global X Funds, the New York based provider of exchange traded funds, today launched the Global X Canada Preferred ETF (Ticker: CNPF). This is the first ETF to target Canadian companies that issue preferred stock.

For investors seeking income, preferred shares are an asset class worth considering due to their unique combination of bond and equity characteristics. Like bonds, preferred shares generally pay stable dividends with more frequent distributions than common shares. Like equity, preferred shares trade on an exchange and have the potential to appreciate in value, offering additional income growth potential for investors. Moreover, preferred shareholders have priority over common shareholders with regard to claims on company earnings and assets, which provide some downside protection.

In addition, preferred shares of Canadian companies offer investors an opportunity to diversify outside the U.S. and increase their international issuer and currency exposure, which may help reduce overall portfolio risk. A shrinking budget deficit paired with strong economic growth and higher commodity prices make Canada a strong contender for investment dollars when compared to the current budget and debt issues of its southern neighbor (Wall Street Journal, 2011).

�CNPF provides a relatively efficient way for investors to reap the benefits of this hybrid asset class as well as receive international exposure via the Canadian issuers traded on the Toronto Stock Exchange,� said Bruno del Ama, chief executive officer of Global X Funds. �We are pleased to expand our global offering to income generating asset classes.�

The Global X Canada Preferred ETF tracks the Solactive Canada Preferred Stock Index, which is designed to measure the performance of preferred stocks from Canadian issuers traded on the Toronto Stock Exchange. The Underlying Index does not seek to directly reflect the performance of the companies issuing the preferred stock. The Underlying Index is comprised of preferred shares that meet certain criteria relating to size, liquidity, issuer rating, maturity and other requirements as determined by Structured Solutions AG. As of May 16, 2011, the three largest components of the index were Transcanada Corp., Manulife Financial Corp., and Canadian Imperial Bank.

ABOUT GLOBAL X FUNDS

Global X Funds is a New York-based provider of exchange-traded funds that facilitates access to investment opportunities across the global markets. With $1.8 billion in managed assets as of April 29, 2011, it is one of the fastest growing ETF providers in the world. Global X Funds currently offers exchange-traded funds that target Developed Markets, Emerging Markets, Commodity Producers and Income fund suites. Global X Funds has been awarded �Most Innovative North American ETF Provider,� ETF Express 2011 Awards and �Most Innovative ETF- Americas,� 7th Annual Global ETF 2010 AWARDS�. For more information, please visit www.globalxfunds.com

DISCLOSURE Investing involves risk, including the possible loss of principal. International investing may involve risk of capital loss from unfavorable fluctuations in currency values, from differences in generally accepted accounting principles, or from economic or political instability in other nations. Narrowly focused investments may be subject to higher volatility. Preferred stock is subject to many of the risks associated with debt securities, including interest rate risk. In addition, preferred stock may not pay a dividend, an issuer may suspend payment of dividends on preferred stock at any time, and in certain situations an issuer may call or redeem its preferred stock or convert it to common stock. Diversification does not prevent all investment losses. Carefully consider the Funds� investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Funds� prospectus, which may be obtained by calling 1-888-GX-FUND-1 (1.888.493.8631), or by visiting www.globalxfunds.com. Read the prospectus carefully before investing. Global X Management Company, LLC serves as an advisor to the Global X Funds. The Funds are distributed by SEI Investments Distribution Co., which is not affiliated with Global X Management Company or any of its affiliates. Structured Solutions AG Indexes have been licensed for use by Global X Management Company, LLC. Global X Funds are not sponsored, endorsed, issued, sold, or promoted by Structured Solutions AG, nor does this company make any representations regarding the advisability of investing in the Global X Funds. Index data source: Structured Solutions AG. Index components subject to change. ETF Express awards were decided by the votes of etfexpress subscribers, who include investors as well as managers and other industry professionals at firms including fund administrators, custodians, advisers and distributors. The 7th Annual Global ETF Awards were determined by votes sent out to ETP industry participants across the globe.

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