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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 12/03/24

Inception Date 08/25/21
Total Expense Ratio 0.61%
Net Assets $16.92 million
NAV $17.09
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 12/03/24

Ticker QRMI
Bloomberg Index Ticker NQRMII
CUSIP 37960A503
ISIN US37960A5039
Primary Exchange Nasdaq
Shares Outstanding 990,000
Number of Holdings 105
30-Day Median Bid-Ask Spread 0.29%

Distributions As of 12/03/24

30-Day SEC Yield 0.27%
Trailing 12-Month Distribution (%) 12.65%
Distribution Rate 11.62%
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 12/03/24

NAV $17.09 Daily Change $0.01 0.06%
Market Price $17.11 Daily Change $0.04 0.23%

Performance History

As of recent
(09/30/24)
As of recent
(09/30/24)
Fund NAV Market Price Index
1 Year 12.25% 12.51% 13.54%
3 Years -0.29% -0.27% 0.16%
Since Inception -1.05% -0.98% -0.73%
1 Year 13.58% 13.77% 14.86%
3 Years 0.05% 0.03% 0.72%
Since Inception -0.26% -0.23% 0.03%
Year-to-Date 8.49% 8.67% 9.65%
1 Month 1.43% 1.91% 1.56%
3 Months 3.66% 4.03% 3.92%
Since Inception -3.21% -3.00% -2.26%
Year-to-Date 11.13% 11.19% 12.30%
1 Month 1.90% 1.95% 1.93%
3 Months 3.90% 4.27% 4.01%
Since Inception -0.85% -0.75% 0.10%

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 12/03/24

Nasdaq 100 Price 21,229.32 Nasdaq 100 Mini Price 212.29

Upside Cap Details

Option Positions Notional Exposure Strike Upside Before Cap Expiration Date Calendar Days to Expiry
Short NASDAQ 100 Micro Call Option -$615,650 204 0.00% 12/20/2024 17
Short NASDAQ Call Option -$16,983,453 20475 0.00% 12/20/2024 17

Downside Floor Details

Option Positions Notional Exposure Strike Downside Before Floor Expiration Date Calendar Days to Expiry
Long NASDAQ 100 Micro Put Option $615,650 194 -8.62% 12/20/2024 17
Long NASDAQ Put Option $16,983,453 19450 -8.38% 12/20/2024 17

Top Holdings As of 12/03/24

Full Holdings (.csv)
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
9.20 AAPL APPLE INC 2046251 242.65 6,418 1,557,327.70
8.58 NVDA NVIDIA CORP 2379504 140.26 10,355 1,452,392.30
8.00 MSFT MICROSOFT CORP 2588173 431.20 3,138 1,353,105.60
5.59 AMZN AMAZON.COM INC 2000019 213.44 4,429 945,325.76
5.32 META META PLATFORMS INC B7TL820 613.65 1,467 900,224.55
5.02 AVGO BROADCOM INC BDZ78H9 168.15 5,051 849,325.65
4.24 TSLA TESLA INC B616C79 351.42 2,040 716,896.80
2.80 COST COSTCO WHOLESALE CORP 2701271 982.15 483 474,378.45
2.50 GOOGL ALPHABET INC-CL A BYVY8G0 171.34 2,470 423,209.80
2.49 NFLX NETFLIX INC 2857817 902.17 467 421,313.39
2.41 GOOG ALPHABET INC-CL C BYY88Y7 173.02 2,354 407,289.08
1.84 TMUS T-MOBILE US INC B94Q9V0 244.85 1,269 310,714.65
1.54 CSCO CISCO SYSTEMS INC 2198163 59.48 4,381 260,581.88
1.48 AMD ADVANCED MICRO DEVICES 2007849 141.98 1,759 249,742.82
1.47 ADBE ADOBE INC 2008154 516.26 482 248,837.32
1.43 PEP PEPSICO INC 2681511 161.70 1,493 241,418.10
1.41 LIN LINDE PLC BNZHB81 458.12 519 237,764.28
1.24 ISRG INTUITIVE SURGICAL INC 2871301 541.71 386 209,100.06
1.16 QCOM QUALCOMM INC 2714923 162.58 1,210 196,721.80
1.16 TXN TEXAS INSTRUMENTS INC 2885409 197.23 992 195,652.16
1.14 INTU INTUIT INC 2459020 636.02 304 193,350.08
1.11 BKNG BOOKING HOLDINGS INC BDRXDB4 5,214.38 36 187,717.68
1.06 CMCSA COMCAST CORP-CLASS A 2044545 42.86 4,195 179,797.70
0.97 AMAT APPLIED MATERIALS INC 2046552 183.16 894 163,745.04
0.96 AMGN AMGEN INC 2023607 278.32 583 162,260.56
0.95 HON HONEYWELL INTL 2020459 226.96 705 160,006.80
0.81 PANW PALO ALTO NETWORKS INC B87ZMX0 392.59 351 137,799.09
0.79 ADP AUTOMATIC DATA PROCESSING 2065308 303.57 442 134,177.94
0.76 VRTX VERTEX PHARM 2931034 456.97 280 127,951.60
0.75 GILD GILEAD SCIENCES INC 2369174 92.49 1,374 127,081.26
0.75 SBUX STARBUCKS CORP 2842255 101.57 1,251 127,064.07
0.72 ADI ANALOG DEVICES INC 2032067 221.54 547 121,182.38
0.71 MU MICRON TECHNOLOGY INC 2588184 99.84 1,201 119,907.84
0.70 APP APPLOVIN CORP-CLASS A BMV3LG4 366.55 321 117,662.55
0.66 LRCX LAM RESEARCH CORP BSML4N7 78.34 1,432 112,182.88
0.63 MELI MERCADOLIBRE INC B23X1H3 1,929.49 55 106,121.95
0.63 INTC INTEL CORP 2463247 22.47 4,717 105,990.99
0.57 CTAS CINTAS CORP 2197137 222.65 436 97,075.40
0.57 KLAC KLA CORP 2480138 665.72 145 96,529.40
0.57 PYPL PAYPAL HOLDINGS INC BYW36M8 85.14 1,127 95,952.78
0.56 MDLZ MONDELEZ INTER-A B8CKK03 64.81 1,473 95,465.13
0.56 SNPS SYNOPSYS INC 2867719 570.19 166 94,651.54
0.55 CDNS CADENCE DESIGN SYS INC 2302232 313.25 296 92,722.00
0.54 MRVL MARVELL TECHNOLOGY INC BNKJSM5 95.91 952 91,306.32
0.52 CRWD CROWDSTRIKE HO-A BJJP138 349.95 251 87,837.45
0.52 REGN REGENERON PHARMACEUTICALS 2730190 749.57 117 87,699.69
0.51 MAR MARRIOTT INTL-A 2210614 284.93 304 86,618.72
0.49 CEG CONSTELLATION ENERGY BMH4FS1 247.51 337 83,410.87
0.47 FTNT FORTINET INC B5B2106 95.29 840 80,043.60
0.47 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 1,247.99 63 78,623.37
0.45 CSX CSX CORP 2160753 36.00 2,131 76,716.00
0.43 ASML ASML HOLDING-NY B908F01 718.06 102 73,242.12
0.43 DASH DOORDASH INC - A BN13P03 176.09 415 73,077.35
0.43 PDD PDD HOLDINGS INC BYVW0F7 98.45 737 72,557.65
0.41 ADSK AUTODESK INC 2065159 298.96 232 69,358.72
0.40 TTD TRADE DESK INC-A BD8FDD1 139.16 491 68,327.56
0.40 ABNB AIRBNB INC-CLASS A BMGYYH4 137.46 490 67,355.40
0.40 PCAR PACCAR INC 2665861 116.85 575 67,188.75
0.39 CPRT COPART INC 2208073 62.24 1,054 65,600.96
0.39 ROP ROPER TECHNOLOGIES INC 2749602 566.86 115 65,188.90
0.37 NXPI NXP SEMICONDUCTORS NV B505PN7 228.36 274 62,570.64
0.36 CHTR CHARTER COMMUN-A BZ6VT82 397.61 154 61,231.94
0.35 WDAY WORKDAY INC-CLASS A B8K6ZD1 257.06 229 58,866.74
0.34 MNST MONSTER BEVERAGE CORP BZ07BW4 54.19 1,074 58,200.06
0.34 FANG DIAMONDBACK ENERGY INC B7Y8YR3 175.76 329 57,825.04
0.34 PAYX PAYCHEX INC 2674458 144.49 394 56,929.06
0.33 AEP AMERICAN ELECTRIC POWER 2026242 97.02 583 56,562.66
0.33 ROST ROSS STORES INC 2746711 153.72 365 56,107.80
0.31 DDOG DATADOG INC - CLASS A BKT9Y49 155.01 341 52,858.41
0.31 FAST FASTENAL CO 2332262 82.81 627 51,921.87
0.30 ODFL OLD DOMINION FREIGHT LINE 2656423 218.33 230 50,215.90
0.29 EA ELECTRONIC ARTS INC 2310194 167.70 291 48,800.70
0.28 KDP KEURIG DR PEPPER INC BD3W133 32.38 1,486 48,116.68
0.28 BKR BAKER HUGHES CO BDHLTQ5 43.67 1,083 47,294.61
0.27 VRSK VERISK ANALYTICS INC B4P9W92 289.05 160 46,248.00
0.27 TEAM ATLASSIAN CORP-CL A BQ1PC76 268.36 171 45,889.56
0.27 LULU LULULEMON ATHLETICA INC B23FN39 340.66 133 45,307.78
0.26 AZN ASTRAZENECA PLC-SPONS ADR 2989044 68.05 636 43,279.80
0.26 CTSH COGNIZANT TECH-A 2257019 79.98 540 43,189.20
0.26 XEL XCEL ENERGY INC 2614807 71.00 608 43,168.00
0.25 EXC EXELON CORP 2670519 38.14 1,093 41,687.02
0.25 KHC KRAFT HEINZ CO/THE BYRY499 31.45 1,321 41,545.45
0.24 GEHC GE HEALTHCARE TECHNOLOGY BL6JPG8 82.57 499 41,202.43
0.23 CCEP COCA-COLA EUROPA BYQQ3P5 78.05 501 39,103.05
0.23 MCHP MICROCHIP TECHNOLOGY INC 2592174 65.39 586 38,318.54
0.23 IDXX IDEXX LABORATORIES INC 2459202 432.11 88 38,025.68
0.22 CSGP COSTAR GROUP INC 2262864 80.15 464 37,189.60
0.22 TTWO TAKE-TWO INTERAC 2122117 188.06 197 37,047.82
0.20 DXCM DEXCOM INC B0796X4 80.91 426 34,467.66
0.20 ANSS ANSYS INC 2045623 351.05 98 34,402.90
0.20 ZS ZSCALER INC BZ00V34 198.64 172 34,166.08
0.20 ON ON SEMICONDUCTOR 2583576 69.81 486 33,927.66
0.17 WBD WARNER BROS DISCOVERY INC BM8JYX3 10.55 2,750 29,012.50
0.16 GFS GLOBALFOUNDRIES INC BMW7F63 44.63 618 27,581.34
0.16 MDB MONGODB INC BF2FJ99 324.01 84 27,216.84
0.16 CDW CDW CORP/DE BBM5MD6 179.63 151 27,124.13
0.16 BIIB BIOGEN INC 2455965 160.85 168 27,022.80
0.16 SMCI SUPER MICRO COMPUTER INC BRC3N73 40.21 656 26,377.76
0.15 ILMN ILLUMINA INC 2613990 140.60 180 25,308.00
0.12 ARM ARM HOLDINGS PLC-ADR BNSP5P7 140.38 140 19,653.20
0.11 MRNA MODERNA INC BGSXTS3 42.58 440 18,735.20
0.09 NDX US 12/20/24 P19450 1,840.00 8 14,720.00
0.05 CASH 1.00 8,001 8,001.24
0.00 OTHER PAYABLE & RECEIVABLES 1.00 568 568.28
0.00 XND US 12/20/24 P194 19.00 29 551.00
-0.16 XND US 12/20/24 C204 940.00 -29 -27,260.00
-4.09 NDX US 12/20/24 C20475 86,565.00 -8 -692,520.00
Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Characteristics As of 12/03/24

Return on Equity 21.60%
Weighted Avg. Market Cap 1,084,100 M
2023 2024
Price-to-earnings 36.41 31.74
Price-to-book value 7.45 6.35

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 11/30/24

Versus Beta
S&P 500 0.38
NASDAQ-100 0.33
MSCI EAFE 0.31
MSCI Emg. Mkts 0.25
Standard Deviation 8.30%

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.