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QRMI

Nasdaq 100 Risk Managed Income ETF

 

Reasons to Consider QRMI

Alternative Income Source

QRMI seeks to generate an alternative source of income by selling covered calls.

Risk-Minded Approach

QRMI buys protective puts to mitigate the risks of a major market selloff.

Monthly Distributions

QRMI has made monthly distributions 3 years running.

Key Information As of 01/07/25

Inception Date 08/25/21
Total Expense Ratio 0.61%
Net Assets $17.80 million
NAV $17.45
Fact Sheet View the document

ETF Summary

The Global X Nasdaq 100 Risk Managed Income ETF (QRMI) employs a protective net-credit collar1 strategy for investors seeking the income characteristics of a covered call fund, while mitigating the risks of a major market selloff with a protective put. QRMI seeks to achieve this outcome by owning the stocks in the Nasdaq 100 Index (NDX), while buying 5% out-of-the-money put options2 on NDX and selling at-the-money call options on the same index.

ETF Objective

The Global X Nasdaq 100 Risk Managed Income ETF (QRMI) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Nasdaq-100 Monthly Net Credit Collar 95-100 Index.

Trading Details As of 01/06/25

Ticker QRMI
Bloomberg Index Ticker NQRMII
CUSIP 37960A503
ISIN US37960A5039
Primary Exchange Nasdaq
Shares Outstanding 1,020,000
Number of Holdings 105
30-Day Median Bid-Ask Spread 0.23%

Distributions As of 01/07/25

30-Day SEC Yield 0.24%
Trailing 12-Month Distribution (%) 12.40%
Distribution Rate 11.96%
Distribution Frequency Monthly

1A protective net-credit collar strategy is a mix of short (sold) call options and long (purchased) put options where the premiums received from the sale of the call options will be greater than the premium paid when buying the put options

2An out-of-the-money put option conveys the right, but not the obligation, to sell an underlying asset at a strike price below that underlying asset’s market price; an out-of-the-money call option conveys the right, but not the obligation, to buy an underlying asset at a strike price above that underlying asset’s market price (learn more)

ETF Prices As of 01/07/25

NAV $17.45 Daily Change -$0.12 -0.68%
Market Price $17.45 Daily Change -$0.14 -0.80%

Performance History

As of recent month & quarter-end (12/31/24)
As of recent month & quarter-end (12/31/24)
Fund NAV Market Price Index
1 Year 14.50% 14.69% 15.72%
3 Years 1.32% 1.43% 1.96%
Since Inception 0.64% 0.70% 0.93%
1 Year 14.50% 14.69% 15.72%
3 Years 1.32% 1.43% 1.96%
Since Inception 0.64% 0.70% 0.93%
Year-to-Date 14.50% 14.69% 15.72%
1 Month 3.03% 3.15% 3.05%
3 Months 5.55% 5.54% 5.54%
Since Inception 2.16% 2.38% 3.16%
Year-to-Date 14.50% 14.69% 15.72%
1 Month 3.03% 3.15% 3.05%
3 Months 5.55% 5.54% 5.54%
Since Inception 2.16% 2.38% 3.16%

Performance is shown on a total return basis (i.e., with gross income reinvested, where applicable). Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized return is the average return gained or lost by an investment each year over a given time period.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. High short-term performance, when observed, is unusual and investors should not expect such performance to be repeated.

Options Details As of 01/06/25

Nasdaq 100 Price 21,559.50 Nasdaq 100 Mini Price 215.60

Upside Cap Details

Option Positions Notional Exposure Strike Upside Before Cap Expiration Date Calendar Days to Expiry
Short NASDAQ 100 Micro Call Option -$1,034,856 212 0.00% 01/17/2025 11
Short NASDAQ Call Option -$17,247,600 21250 0.00% 01/17/2025 11

Downside Floor Details

Option Positions Notional Exposure Strike Downside Before Floor Expiration Date Calendar Days to Expiry
Long NASDAQ 100 Micro Put Option $1,034,856 202 -6.31% 01/17/2025 11
Long NASDAQ Put Option $17,247,600 20200 -6.31% 01/17/2025 11

Top Holdings As of 01/07/25

Full Holdings (.csv)
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
9.47 AAPL APPLE INC 2046251 242.21 6,963 1,686,508.23
8.88 NVDA NVIDIA CORP 2379504 140.14 11,278 1,580,498.92
8.12 MSFT MICROSOFT CORP 2588173 422.37 3,424 1,446,194.88
6.04 AMZN AMAZON.COM INC 2000019 222.11 4,839 1,074,790.29
4.56 AVGO BROADCOM INC BDZ78H9 228.64 3,552 812,129.28
3.69 TSLA TESLA INC B616C79 394.36 1,667 657,398.12
3.47 META META PLATFORMS INC B7TL820 617.89 1,001 618,507.89
2.95 GOOGL ALPHABET INC-CL A BYVY8G0 195.49 2,682 524,304.18
2.81 GOOG ALPHABET INC-CL C BYY88Y7 196.71 2,539 499,446.69
2.59 COST COSTCO WHOLESALE CORP 2701271 921.37 500 460,685.00
2.39 NFLX NETFLIX INC 2857817 879.19 484 425,527.96
1.56 TMUS T-MOBILE US INC B94Q9V0 212.34 1,305 277,097.18
1.48 CSCO CISCO SYSTEMS INC 2198163 58.93 4,475 263,711.75
1.30 AMD ADVANCED MICRO DEVICES 2007849 127.33 1,820 231,740.60
1.26 PEP PEPSICO INC 2681511 145.40 1,540 223,916.00
1.25 LIN LINDE PLC BNZHB81 414.95 534 221,583.30
1.20 ISRG INTUITIVE SURGICAL INC 2871301 531.88 401 213,283.88
1.17 ADBE ADOBE INC 2008154 422.63 494 208,779.22
1.15 QCOM QUALCOMM INC 2714923 160.52 1,278 205,144.56
1.13 TXN TEXAS INSTRUMENTS INC 2885409 192.21 1,049 201,628.29
1.09 INTU INTUIT INC 2459020 615.43 315 193,860.45
1.02 BKNG BOOKING HOLDINGS INC BDRXDB4 4,796.10 38 182,251.80
0.99 PLTR PALANTIR TECHN-A BN78DQ4 69.99 2,508 175,534.92
0.95 AMAT APPLIED MATERIALS INC 2046552 177.82 949 168,751.18
0.93 HON HONEYWELL INTL 2020459 220.63 748 165,031.24
0.91 AMGN AMGEN INC 2023607 262.06 619 162,215.14
0.90 CMCSA COMCAST CORP-CLASS A 2044545 36.87 4,324 159,425.88
0.76 ADP AUTOMATIC DATA PROCESSING 2065308 288.40 469 135,259.60
0.75 PANW PALO ALTO NETWORKS INC B87ZMX0 175.51 756 132,685.56
0.74 MU MICRON TECHNOLOGY INC 2588184 101.91 1,285 130,954.35
0.72 GILD GILEAD SCIENCES INC 2369174 90.63 1,416 128,332.08
0.68 ADI ANALOG DEVICES INC 2032067 215.87 564 121,750.68
0.68 VRTX VERTEX PHARM 2931034 408.32 298 121,679.36
0.67 SBUX STARBUCKS CORP 2842255 92.84 1,289 119,670.76
0.64 LRCX LAM RESEARCH CORP BSML4N7 77.52 1,474 114,264.48
0.64 MRVL MARVELL TECHNOLOGY INC BNKJSM5 116.23 982 114,137.86
0.64 APP APPLOVIN CORP-CLASS A BMV3LG4 330.01 344 113,521.72
0.60 KLAC KLA CORP 2480138 689.30 156 107,530.80
0.58 MELI MERCADOLIBRE INC B23X1H3 1,771.22 58 102,730.76
0.57 PYPL PAYPAL HOLDINGS INC BYW36M8 87.97 1,157 101,781.29
0.55 INTC INTEL CORP 2463247 20.01 4,862 97,288.62
0.55 CRWD CROWDSTRIKE HO-A BJJP138 359.93 270 97,181.10
0.54 CDNS CADENCE DESIGN SYS INC 2302232 301.67 317 95,629.39
0.52 CEG CONSTELLATION ENERGY BMH4FS1 255.63 362 92,538.06
0.51 REGN REGENERON PHARMACEUTICALS 2730190 730.30 125 91,287.50
0.50 MDLZ MONDELEZ INTER-A B8CKK03 58.29 1,518 88,484.22
0.48 CTAS CINTAS CORP 2197137 188.72 450 84,924.00
0.47 MAR MARRIOTT INTL-A 2210614 269.78 313 84,441.14
0.47 SNPS SYNOPSYS INC 2867719 487.62 172 83,870.64
0.47 FTNT FORTINET INC B5B2106 95.93 866 83,075.38
0.45 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 1,199.72 66 79,181.52
0.43 DASH DOORDASH INC - A BN13P03 170.00 450 76,500.00
0.43 PDD PDD HOLDINGS INC BYVW0F7 100.62 760 76,471.20
0.41 ASML ASML HOLDING-NY B908F01 757.58 97 73,485.26
0.41 MSTR MICROSTRATEGY INC-CL A 2974329 341.43 212 72,382.10
0.40 CSX CSX CORP 2160753 32.19 2,196 70,689.24
0.39 ADSK AUTODESK INC 2065159 290.82 238 69,215.16
0.37 ABNB AIRBNB INC-CLASS A BMGYYH4 131.29 501 65,776.29
0.37 PCAR PACCAR INC 2665861 109.56 593 64,969.08
0.35 TTD TRADE DESK INC-A BD8FDD1 121.41 506 61,433.46
0.34 CPRT COPART INC 2208073 56.24 1,087 61,132.88
0.34 NXPI NXP SEMICONDUCTORS NV B505PN7 212.58 283 60,160.14
0.34 ROP ROPER TECHNOLOGIES INC 2749602 507.10 118 59,837.80
0.33 WDAY WORKDAY INC-CLASS A B8K6ZD1 249.68 235 58,674.80
0.33 FANG DIAMONDBACK ENERGY INC B7Y8YR3 172.42 338 58,277.96
0.32 ROST ROSS STORES INC 2746711 151.56 377 57,138.12
0.32 MNST MONSTER BEVERAGE CORP BZ07BW4 51.55 1,107 57,065.85
0.32 PAYX PAYCHEX INC 2674458 139.26 406 56,539.56
0.31 CHTR CHARTER COMMUN-A BZ6VT82 347.63 160 55,620.80
0.31 AEP AMERICAN ELECTRIC POWER 2026242 90.47 601 54,372.47
0.30 LULU LULULEMON ATHLETICA INC B23FN39 393.46 136 53,510.56
0.28 AXON AXON ENTERPRISE INC BDT5S35 562.03 90 50,582.70
0.28 DDOG DATADOG INC - CLASS A BKT9Y49 141.40 352 49,772.80
0.27 BKR BAKER HUGHES CO BDHLTQ5 43.40 1,116 48,434.40
0.26 KDP KEURIG DR PEPPER INC BD3W133 30.68 1,531 46,971.08
0.26 FAST FASTENAL CO 2332262 72.31 645 46,639.95
0.25 VRSK VERISK ANALYTICS INC B4P9W92 273.52 164 44,857.28
0.25 TEAM ATLASSIAN CORP-CL A BQ1PC76 247.85 177 43,869.45
0.25 AZN ASTRAZENECA PLC-SPONS ADR 2989044 66.64 656 43,715.84
0.24 EA ELECTRONIC ARTS INC 2310194 144.67 300 43,401.00
0.24 GEHC GE HEALTHCARE TECHNOLOGY BL6JPG8 83.37 514 42,852.18
0.24 ODFL OLD DOMINION FREIGHT LINE 2656423 180.64 236 42,631.04
0.24 EXC EXELON CORP 2670519 37.53 1,126 42,258.78
0.24 CTSH COGNIZANT TECH-A 2257019 75.62 557 42,120.34
0.23 XEL XCEL ENERGY INC 2614807 65.64 626 41,090.64
0.23 KHC KRAFT HEINZ CO/THE BYRY499 29.77 1,362 40,546.74
0.22 CCEP COCA-COLA EUROPA BYQQ3P5 75.84 516 39,133.44
0.22 IDXX IDEXX LABORATORIES INC 2459202 427.26 91 38,880.66
0.21 TTWO TAKE-TWO INTERAC 2122117 181.75 203 36,895.25
0.20 DXCM DEXCOM INC B0796X4 79.35 438 34,755.30
0.20 MCHP MICROCHIP TECHNOLOGY INC 2592174 57.47 604 34,711.88
0.19 ANSS ANSYS INC 2045623 335.86 101 33,921.86
0.19 NDX US 01/17/25 P20200 4,225.00 8 33,800.00
0.19 CSGP COSTAR GROUP INC 2262864 70.36 479 33,702.44
0.18 ZS ZSCALER INC BZ00V34 183.90 178 32,734.20
0.18 ON ON SEMICONDUCTOR 2583576 62.73 501 31,427.73
0.17 WBD WARNER BROS DISCOVERY INC BM8JYX3 10.51 2,833 29,774.83
0.16 CDW CDW CORP/DE BBM5MD6 180.98 154 27,870.92
0.16 GFS GLOBALFOUNDRIES INC BMW7F63 43.54 636 27,691.44
0.15 BIIB BIOGEN INC 2455965 153.15 172 26,341.80
0.12 MDB MONGODB INC BF2FJ99 245.96 87 21,398.52
0.12 ARM ARM HOLDINGS PLC-ADR BNSP5P7 144.38 143 20,646.34
0.04 CASH 1.00 7,291 7,290.86
0.03 OTHER PAYABLE & RECEIVABLES 1.00 5,047 5,046.74
0.01 XND US 01/17/25 P202 49.00 48 2,352.00
-0.08 XND US 01/17/25 C212 292.00 -48 -14,016.00
-1.11 NDX US 01/17/25 C21250 24,605.00 -8 -196,840.00
Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Characteristics As of 01/06/25

Return on Equity 22.00%
Weighted Avg. Market Cap 1,268,180 M
2023 2024
Price-to-earnings 36.62 32.25
Price-to-book value 7.73 6.55

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 12/31/24

Versus Beta
S&P 500 0.38
NASDAQ-100 0.33
MSCI EAFE 0.31
MSCI Emg. Mkts 0.25
Standard Deviation 8.40%

Source: new windowAltaVista Research, LLC

ETF Research

Risk Management Strategies for a Volatile Market Environment

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Understanding the Income Landscape for Options Strategies

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ETF Documents

Investing involves risk, including the possible loss of principal. Concentration in a particular industry or sector will subject QRMI to loss due to adverse occurrences that may affect that industry or sector. Investors in QRMI should be willing to accept a high degree of volatility in the price of the fund’s shares and the possibility of significant losses.

QRMI engages in options trading. An option is a contract sold by one party to another that gives the buyer the right, but not the obligation, to buy (call) or sell (put) a stock at an agreed upon price within a certain period or on a specific date. A collar strategy involves holding shares of the underlying stock while simultaneously buying put options and selling call options against that holding. QRMI writes covered call index options on and purchases put options on the Nasdaq 100 Index. By selling covered call options, the fund limits its opportunity to profit from an increase in the price of the underlying index above the exercise price. By purchasing put options, in return for the payment of premiums, the Fund may be protected from a significant decline in the price of the Nasdaq 100 Index if the put options become in the money (Nasdaq 100 closes below the strike price as of the expiration date); but during periods where the Nasdaq 100 Index appreciates, the Fund will underperform due to the cost of the premiums paid. A liquid market may not exist for options held by the Fund. While the fund receives premiums for writing the call options, the price it realizes from the exercise of an option could be substantially below the indices current market price. QRMI is non-diversified.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. The market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share, and do not represent the returns you would receive if you traded shares at other times. NAVs are calculated using prices as of 4:00 PM Eastern Time. Indices are unmanaged and do not include the effect of fees, expenses or sales charges. One cannot invest directly in an index.

Carefully consider the Fund’s investment objectives, risks, and charges and expenses before investing. This and other information can be found in the Fund’s summary or full prospectuses. Please read the prospectus carefully before investing.

Global X Management Company LLC serves as an advisor to Global X Funds. The Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Global X Management Company LLC or Mirae Asset Global Investments. Global X Funds are not sponsored, endorsed, issued, sold or promoted by Nasdaq, nor does this entity make any representations regarding the advisability of investing in the Global X Funds. Neither SIDCO, Global X nor Mirae Asset Global Investments are affiliated with Nasdaq.