Model Portfolios | News | Contact

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 02/28/25

Inception Date 08/25/21
Total Expense Ratio 0.60%
Net Assets $18.91 million
NAV $17.04
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 02/27/25

Ticker QRMI
Bloomberg Index Ticker NQRMII
CUSIP 37960A503
ISIN US37960A5039
Primary Exchange Nasdaq
Shares Outstanding 1,110,000
Number of Holdings 105
30-Day Median Bid-Ask Spread 0.28%

Distributions As of 02/28/25

30-Day SEC Yield 0.21%
Trailing 12-Month Distribution (%) 1 12.78%
Distribution Rate 2 13.33%
Distribution Frequency Monthly

1The distribution as a percentage an investor would have received if they had held the fund over the last twelve months, assuming the most recent NAV. The Trailing 12-Month Distribution (%) is calculated by summing any income, capital gains and return of capital distributions over the past twelve months and dividing by the sum of the most recent NAV and any capital gain distributions made over the same period. The distribution is estimated to include a return of capital. For information on the breakdown of the distributions, please see the “19a Notice” here. These do not imply rates for any future distributions.

2The annual rate an investor would receive if the most recent fund distribution remained the same going forward. The rate represents a single distribution from the fund and does not represent total return of the fund. The distribution rate is calculated by annualizing the most recent distribution and dividing by the most recent fund NAV. The distribution is estimated to include a return of capital. For information on the breakdown of the distributions, please see the “19a Notice” here. These do not imply rates for any future distributions.

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 02/28/25

NAV $17.04 Daily Change $0.09 0.53%
Market Price $17.06 Daily Change $0.10 0.59%

Performance History

As of recent
(12/31/24)
As of recent
(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 10.97% 10.83% --
3 Years 4.26% 4.24% --
Since Inception 0.62% 0.65% --
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 0.05% -0.07% 0.00%
1 Month -1.64% -1.53% 0.00%
3 Months 3.08% 3.08% 0.00%
Since Inception 2.20% 2.31% --

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 02/28/25

Nasdaq 100 Price 22,068.06 Nasdaq 100 Mini Price 220.68

Upside Cap Details

Option Positions Notional Exposure Strike Upside Before Cap Expiration Date Calendar Days to Expiry
Short NASDAQ Call Option -$17,654,448 21925 0.00% 03/21/2025 21
Short NASDAQ 100 Micro Call Option -$1,986,125 219 0.00% 03/21/2025 21

Downside Floor Details

Option Positions Notional Exposure Strike Downside Before Floor Expiration Date Calendar Days to Expiry
Long NASDAQ Put Option $17,654,448 20850 -5.52% 03/21/2025 21
Long NASDAQ 100 Micro Put Option $1,986,125 208 -5.75% 03/21/2025 21

Top Holdings As of 02/28/25

Full Holdings (.csv)
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
9.35 AAPL APPLE INC 2046251 241.84 7,307 1,767,124.88
7.82 NVDA NVIDIA CORP 2379504 124.92 11,838 1,478,802.96
7.54 MSFT MICROSOFT CORP 2588173 396.99 3,592 1,425,988.08
5.70 AMZN AMAZON.COM INC 2000019 212.28 5,081 1,078,594.68
3.94 AVGO BROADCOM INC BDZ78H9 199.43 3,732 744,272.76
3.73 META META PLATFORMS INC B7TL820 668.20 1,055 704,951.00
2.92 COST COSTCO WHOLESALE CORP 2701271 1,048.61 527 552,617.47
2.71 TSLA TESLA INC B616C79 292.98 1,751 513,007.98
2.64 NFLX NETFLIX INC 2857817 980.56 509 499,105.04
2.54 GOOGL ALPHABET INC-CL A BYVY8G0 170.28 2,817 479,678.76
2.43 GOOG ALPHABET INC-CL C BYY88Y7 172.22 2,669 459,655.18
1.96 TMUS T-MOBILE US INC B94Q9V0 269.69 1,374 370,554.06
1.72 NDX US 03/21/25 P20850 40,675.00 8 325,400.00
1.60 CSCO CISCO SYSTEMS INC 2198163 64.11 4,720 302,599.20
1.39 LIN LINDE PLC BNZHB81 467.05 563 262,949.15
1.32 PEP PEPSICO INC 2681511 153.47 1,625 249,388.75
1.28 ISRG INTUITIVE SURGICAL INC 2871301 573.15 422 241,869.30
1.21 ADBE ADOBE INC 2008154 438.56 522 228,928.32
1.16 PLTR PALANTIR TECHN-A BN78DQ4 84.92 2,580 219,093.60
1.12 TXN TEXAS INSTRUMENTS INC 2885409 195.99 1,080 211,669.20
1.09 QCOM QUALCOMM INC 2714923 157.17 1,314 206,521.38
1.07 INTU INTUIT INC 2459020 613.84 331 203,181.04
1.04 AMGN AMGEN INC 2023607 308.06 636 195,926.16
1.01 AMD ADVANCED MICRO DEVICES 2007849 99.86 1,917 191,431.62
1.01 BKNG BOOKING HOLDINGS INC BDRXDB4 5,016.01 38 190,608.38
0.89 GILD GILEAD SCIENCES INC 2369174 114.31 1,469 167,921.39
0.86 HON HONEYWELL INTL 2020459 212.89 767 163,286.63
0.86 CMCSA COMCAST CORP-CLASS A 2044545 35.88 4,505 161,639.40
0.82 ADP AUTOMATIC DATA PROCESSING 2065308 315.18 492 155,068.56
0.82 SBUX STARBUCKS CORP 2842255 115.81 1,337 154,837.97
0.81 AMAT APPLIED MATERIALS INC 2046552 158.07 974 153,960.18
0.78 PANW PALO ALTO NETWORKS INC B87ZMX0 190.43 774 147,392.82
0.77 VRTX VERTEX PHARM 2931034 479.79 305 146,335.95
0.71 ADI ANALOG DEVICES INC 2032067 230.06 584 134,355.04
0.70 MELI MERCADOLIBRE INC B23X1H3 2,121.87 62 131,555.94
0.65 MU MICRON TECHNOLOGY INC 2588184 93.63 1,312 122,842.56
0.64 INTC INTEL CORP 2463247 23.73 5,077 120,477.21
0.62 LRCX LAM RESEARCH CORP BSML4N7 76.74 1,516 116,337.84
0.61 APP APPLOVIN CORP-CLASS A BMV3LG4 325.74 351 114,334.74
0.60 KLAC KLA CORP 2480138 708.84 159 112,705.56
0.57 CRWD CROWDSTRIKE HO-A BJJP138 389.66 277 107,935.82
0.53 CTAS CINTAS CORP 2197137 207.50 486 100,845.00
0.53 MDLZ MONDELEZ INTER-A B8CKK03 64.23 1,569 100,776.87
0.51 FTNT FORTINET INC B5B2106 108.01 899 97,100.99
0.50 MAR MARRIOTT INTL-A 2210614 280.45 340 95,353.00
0.50 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 1,373.64 69 94,781.16
0.50 PDD PDD HOLDINGS INC BYVW0F7 113.69 823 93,566.87
0.49 MRVL MARVELL TECHNOLOGY INC BNKJSM5 91.82 1,016 93,289.12
0.49 DASH DOORDASH INC - A BN13P03 198.44 467 92,671.48
0.49 CEG CONSTELLATION ENERGY BMH4FS1 250.55 366 91,699.47
0.47 REGN REGENERON PHARMACEUTICALS 2730190 698.74 126 88,041.24
0.46 SNPS SYNOPSYS INC 2867719 457.28 190 86,883.20
0.45 CDNS CADENCE DESIGN SYS INC 2302232 250.50 336 84,168.00
0.44 PYPL PAYPAL HOLDINGS INC BYW36M8 71.05 1,176 83,554.80
0.40 ASML ASML HOLDING-NY B908F01 709.08 106 75,162.48
0.39 ROP ROPER TECHNOLOGIES INC 2749602 584.50 127 74,231.50
0.38 ABNB AIRBNB INC-CLASS A BMGYYH4 138.87 522 72,490.14
0.38 CSX CSX CORP 2160753 32.01 2,254 72,150.54
0.37 ADSK AUTODESK INC 2065159 274.21 256 70,197.76
0.37 MSTR MICROSTRATEGY INC-CL A 2974329 255.43 274 69,987.82
0.37 AEP AMERICAN ELECTRIC POWER 2026242 106.05 655 69,462.75
0.36 PAYX PAYCHEX INC 2674458 151.67 442 67,038.14
0.35 NXPI NXP SEMICONDUCTORS NV B505PN7 215.59 310 66,832.90
0.35 WDAY WORKDAY INC-CLASS A B8K6ZD1 263.34 253 66,625.02
0.35 PCAR PACCAR INC 2665861 107.24 612 65,630.88
0.34 CHTR CHARTER COMMUN-A BZ6VT82 363.57 178 64,715.46
0.33 MNST MONSTER BEVERAGE CORP BZ07BW4 54.65 1,130 61,754.50
0.33 CPRT COPART INC 2208073 54.80 1,121 61,430.80
0.31 ROST ROSS STORES INC 2746711 140.32 413 57,952.16
0.30 FANG DIAMONDBACK ENERGY INC B7Y8YR3 158.96 356 56,589.76
0.29 TEAM ATLASSIAN CORP-CL A BQ1PC76 284.26 195 55,430.70
0.29 AZN ASTRAZENECA PLC-SPONS ADR 2989044 76.21 710 54,109.10
0.28 LULU LULULEMON ATHLETICA INC B23FN39 365.61 145 53,013.45
0.28 KDP KEURIG DR PEPPER INC BD3W133 33.52 1,576 52,827.52
0.27 EXC EXELON CORP 2670519 44.20 1,165 51,493.00
0.27 BKR BAKER HUGHES CO BDHLTQ5 44.59 1,149 51,233.91
0.27 CTSH COGNIZANT TECH-A 2257019 83.33 605 50,414.65
0.27 FAST FASTENAL CO 2332262 75.73 663 50,208.99
0.26 XEL XCEL ENERGY INC 2614807 72.10 680 49,028.00
0.26 VRSK VERISK ANALYTICS INC B4P9W92 296.91 165 48,990.15
0.26 GEHC GE HEALTHCARE TECHNOLOGY BL6JPG8 87.35 559 48,828.65
0.26 CCEP COCA-COLA EUROPA BYQQ3P5 86.26 561 48,391.86
0.25 AXON AXON ENTERPRISE INC BDT5S35 528.45 89 47,032.05
0.25 TTWO TAKE-TWO INTERAC 2122117 211.98 221 46,847.58
0.24 ODFL OLD DOMINION FREIGHT LINE 2656423 176.50 254 44,831.00
0.23 DDOG DATADOG INC - CLASS A BKT9Y49 116.55 379 44,172.45
0.23 IDXX IDEXX LABORATORIES INC 2459202 437.11 100 43,711.00
0.23 KHC KRAFT HEINZ CO/THE BYRY499 30.71 1,395 42,840.45
0.22 EA ELECTRONIC ARTS INC 2310194 129.12 327 42,222.24
0.22 DXCM DEXCOM INC B0796X4 88.37 474 41,887.38
0.21 TTD TRADE DESK INC-A BD8FDD1 70.32 551 38,746.32
0.20 ZS ZSCALER INC BZ00V34 196.23 196 38,461.08
0.20 CSGP COSTAR GROUP INC 2262864 76.25 483 36,828.75
0.19 ANSS ANSYS INC 2045623 333.25 110 36,657.50
0.19 MCHP MICROCHIP TECHNOLOGY INC 2592174 58.86 617 36,316.62
0.17 WBD WARNER BROS DISCOVERY INC BM8JYX3 11.46 2,790 31,973.40
0.15 CDW CDW CORP/DE BBM5MD6 178.20 163 29,046.60
0.15 XND US 03/21/25 P208 305.00 90 27,450.00
0.14 MDB MONGODB INC BF2FJ99 267.43 96 25,673.28
0.13 GFS GLOBALFOUNDRIES INC BMW7F63 38.77 625 24,231.25
0.13 BIIB BIOGEN INC 2455965 140.50 171 24,025.50
0.12 ON ON SEMICONDUCTOR 2583576 47.05 499 23,477.95
0.11 ARM ARM HOLDINGS PLC-ADR BNSP5P7 131.69 152 20,016.88
0.06 CASH 1.00 11,200 11,200.02
0.01 OTHER PAYABLE & RECEIVABLES 1.00 1,767 1,767.02
-0.03 XND US 03/21/25 C219 67.50 -90 -6,075.00
-0.25 NDX US 03/21/25 C21925 5,930.00 -8 -47,440.00
Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Characteristics As of 02/28/25

Return on Equity 26.00%
Weighted Avg. Market Cap 1,408,410 M
2024 2025
Price-to-earnings 31.78 26.19
Price-to-book value 7.57 6.17

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 01/31/25

Versus Beta
S&P 500 0.36
NASDAQ-100 0.32
MSCI EAFE 0.28
MSCI Emg. Mkts 0.24
Standard Deviation 7.90%

Source: new windowAltaVista Research, LLC

ETF Research

Risk Management Strategies for a Volatile Market Environment

Read the Full ArticleRead More

Understanding the Income Landscape for Options Strategies

Read the Full ArticleRead More

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.