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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 01/10/25

Inception Date 08/25/21
Total Expense Ratio 0.61%
Net Assets $17.68 million
NAV $17.33
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 01/08/25

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 01/10/25

30-Day SEC Yield 0.24%
Trailing 12-Month Distribution (%) 12.50%
Distribution Rate 12.04%
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 01/10/25

NAV $17.33 Daily Change -$0.14 -0.80%
Market Price $17.34 Daily Change -$0.16 -0.91%

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 01/10/25

Nasdaq 100 Price 20,847.58 Nasdaq 100 Mini Price 208.48

Upside Cap Details

Option Positions Notional Exposure Strike Upside Before Cap Expiration Date Calendar Days to Expiry
Short NASDAQ Call Option -$16,678,066 21250 1.93% 01/17/2025 7
Short NASDAQ 100 Micro Call Option -$1,000,684 212 1.69% 01/17/2025 7

Downside Floor Details

Option Positions Notional Exposure Strike Downside Before Floor Expiration Date Calendar Days to Expiry
Long NASDAQ 100 Micro Put Option $1,000,684 202 -3.11% 01/17/2025 7
Long NASDAQ Put Option $16,678,066 20200 -3.11% 01/17/2025 7

Top Holdings As of 01/10/25

Full Holdings (.csv)
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
9.33 AAPL APPLE INC 2046251 236.85 6,963 1,649,186.55
8.67 NVDA NVIDIA CORP 2379504 135.91 11,278 1,532,792.98
8.12 MSFT MICROSOFT CORP 2588173 418.95 3,424 1,434,484.80
5.99 AMZN AMAZON.COM INC 2000019 218.94 4,839 1,059,450.66
4.51 AVGO BROADCOM INC BDZ78H9 224.31 3,552 796,749.12
3.72 TSLA TESLA INC B616C79 394.74 1,667 658,031.58
3.49 META META PLATFORMS INC B7TL820 615.86 1,001 616,475.86
2.91 GOOGL ALPHABET INC-CL A BYVY8G0 192.04 2,682 515,051.28
2.78 GOOG ALPHABET INC-CL C BYY88Y7 193.17 2,539 490,458.63
2.65 COST COSTCO WHOLESALE CORP 2701271 936.94 500 468,470.00
2.29 NFLX NETFLIX INC 2857817 837.69 484 405,441.96
1.56 TMUS T-MOBILE US INC B94Q9V0 211.30 1,305 275,746.50
1.49 CSCO CISCO SYSTEMS INC 2198163 58.74 4,475 262,861.50
1.25 LIN LINDE PLC BNZHB81 414.15 534 221,156.10
1.24 PEP PEPSICO INC 2681511 142.64 1,540 219,665.60
1.24 ISRG INTUITIVE SURGICAL INC 2871301 547.47 401 219,535.47
1.20 AMD ADVANCED MICRO DEVICES 2007849 116.04 1,820 211,192.80
1.14 QCOM QUALCOMM INC 2714923 156.98 1,278 200,620.44
1.13 ADBE ADOBE INC 2008154 405.92 494 200,524.48
1.13 TXN TEXAS INSTRUMENTS INC 2885409 190.15 1,049 199,467.35
1.11 INTU INTUIT INC 2459020 623.43 315 196,380.45
1.02 BKNG BOOKING HOLDINGS INC BDRXDB4 4,739.55 38 180,102.90
0.95 PLTR PALANTIR TECHN-A BN78DQ4 67.26 2,508 168,688.08
0.92 HON HONEYWELL INTL 2020459 218.19 748 163,206.12
0.92 AMAT APPLIED MATERIALS INC 2046552 171.65 949 162,895.85
0.92 AMGN AMGEN INC 2023607 262.23 619 162,320.37
0.89 CMCSA COMCAST CORP-CLASS A 2044545 36.36 4,324 157,220.64
0.76 ADP AUTOMATIC DATA PROCESSING 2065308 286.85 469 134,532.65
0.74 PANW PALO ALTO NETWORKS INC B87ZMX0 173.42 756 131,105.52
0.72 MU MICRON TECHNOLOGY INC 2588184 99.34 1,285 127,651.90
0.72 GILD GILEAD SCIENCES INC 2369174 89.88 1,416 127,270.08
0.69 VRTX VERTEX PHARM 2931034 409.56 298 122,048.88
0.68 ADI ANALOG DEVICES INC 2032067 212.37 564 119,776.68
0.67 SBUX STARBUCKS CORP 2842255 92.25 1,289 118,910.25
0.64 MRVL MARVELL TECHNOLOGY INC BNKJSM5 114.32 982 112,262.24
0.63 CEG CONSTELLATION ENERGY BMH4FS1 305.19 362 110,478.78
0.62 LRCX LAM RESEARCH CORP BSML4N7 74.65 1,474 110,034.10
0.62 APP APPLOVIN CORP-CLASS A BMV3LG4 318.48 344 109,557.12
0.60 KLAC KLA CORP 2480138 683.06 156 106,557.36
0.58 MELI MERCADOLIBRE INC B23X1H3 1,758.77 58 102,008.66
0.55 PYPL PAYPAL HOLDINGS INC BYW36M8 83.36 1,157 96,447.52
0.54 CDNS CADENCE DESIGN SYS INC 2302232 299.00 317 94,783.00
0.53 CRWD CROWDSTRIKE HO-A BJJP138 348.84 270 94,186.80
0.53 INTC INTEL CORP 2463247 19.15 4,862 93,107.30
0.49 REGN REGENERON PHARMACEUTICALS 2730190 696.88 125 87,110.00
0.48 MDLZ MONDELEZ INTER-A B8CKK03 56.25 1,518 85,387.50
0.48 CTAS CINTAS CORP 2197137 189.30 450 85,185.00
0.48 MAR MARRIOTT INTL-A 2210614 270.76 313 84,747.88
0.48 SNPS SYNOPSYS INC 2867719 492.54 172 84,716.88
0.46 FTNT FORTINET INC B5B2106 94.56 866 81,888.96
0.45 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 1,197.60 66 79,041.60
0.43 DASH DOORDASH INC - A BN13P03 170.12 450 76,554.00
0.41 PDD PDD HOLDINGS INC BYVW0F7 94.68 760 71,956.80
0.41 ASML ASML HOLDING-NY B908F01 739.01 97 71,683.97
0.40 CSX CSX CORP 2160753 31.78 2,196 69,788.88
0.39 MSTR MICROSTRATEGY INC-CL A 2974329 327.91 212 69,516.92
0.38 ADSK AUTODESK INC 2065159 284.96 238 67,820.48
0.37 ABNB AIRBNB INC-CLASS A BMGYYH4 129.63 501 64,944.63
0.36 PCAR PACCAR INC 2665861 106.58 593 63,201.94
0.34 CPRT COPART INC 2208073 55.64 1,087 60,480.68
0.34 TTD TRADE DESK INC-A BD8FDD1 118.80 506 60,112.80
0.34 ROP ROPER TECHNOLOGIES INC 2749602 502.71 118 59,319.78
0.33 FANG DIAMONDBACK ENERGY INC B7Y8YR3 174.77 338 59,072.26
0.33 WDAY WORKDAY INC-CLASS A B8K6ZD1 249.71 235 58,681.85
0.33 NXPI NXP SEMICONDUCTORS NV B505PN7 206.75 283 58,510.25
0.32 ROST ROSS STORES INC 2746711 151.74 377 57,205.98
0.32 PAYX PAYCHEX INC 2674458 139.06 406 56,458.36
0.32 AEP AMERICAN ELECTRIC POWER 2026242 93.51 601 56,199.51
0.31 MNST MONSTER BEVERAGE CORP BZ07BW4 49.74 1,107 55,062.18
0.30 LULU LULULEMON ATHLETICA INC B23FN39 395.47 136 53,783.92
0.30 CHTR CHARTER COMMUN-A BZ6VT82 334.89 160 53,582.40
0.29 AXON AXON ENTERPRISE INC BDT5S35 570.00 90 51,300.00
0.28 DDOG DATADOG INC - CLASS A BKT9Y49 140.42 352 49,427.84
0.27 BKR BAKER HUGHES CO BDHLTQ5 43.26 1,116 48,278.16
0.26 KDP KEURIG DR PEPPER INC BD3W133 30.38 1,531 46,511.78
0.26 FAST FASTENAL CO 2332262 71.63 645 46,201.35
0.25 VRSK VERISK ANALYTICS INC B4P9W92 268.63 164 44,055.32
0.25 AZN ASTRAZENECA PLC-SPONS ADR 2989044 67.01 656 43,958.56
0.25 GEHC GE HEALTHCARE TECHNOLOGY BL6JPG8 84.76 514 43,566.64
0.24 TEAM ATLASSIAN CORP-CL A BQ1PC76 242.39 177 42,903.03
0.24 EA ELECTRONIC ARTS INC 2310194 140.85 300 42,255.00
0.24 EXC EXELON CORP 2670519 37.30 1,126 41,999.80
0.24 CTSH COGNIZANT TECH-A 2257019 75.32 557 41,953.24
0.24 ODFL OLD DOMINION FREIGHT LINE 2656423 176.41 236 41,632.76
0.23 NDX US 01/17/25 P20200 5,020.00 8 40,160.00
0.22 XEL XCEL ENERGY INC 2614807 63.37 626 39,669.62
0.22 KHC KRAFT HEINZ CO/THE BYRY499 28.51 1,362 38,830.62
0.22 IDXX IDEXX LABORATORIES INC 2459202 418.05 91 38,042.55
0.22 CCEP COCA-COLA EUROPA BYQQ3P5 73.71 516 38,034.36
0.21 TTWO TAKE-TWO INTERAC 2122117 178.61 203 36,257.83
0.19 ANSS ANSYS INC 2045623 337.81 101 34,118.81
0.19 DXCM DEXCOM INC B0796X4 77.76 438 34,058.88
0.19 ZS ZSCALER INC BZ00V34 189.98 178 33,816.44
0.19 CSGP COSTAR GROUP INC 2262864 69.87 479 33,467.73
0.19 MCHP MICROCHIP TECHNOLOGY INC 2592174 55.19 604 33,334.76
0.16 CDW CDW CORP/DE BBM5MD6 183.14 154 28,203.56
0.16 WBD WARNER BROS DISCOVERY INC BM8JYX3 9.70 2,833 27,480.10
0.15 ON ON SEMICONDUCTOR 2583576 53.94 501 27,023.94
0.15 GFS GLOBALFOUNDRIES INC BMW7F63 40.96 636 26,050.56
0.15 BIIB BIOGEN INC 2455965 148.82 172 25,597.04
0.12 MDB MONGODB INC BF2FJ99 245.22 87 21,334.14
0.11 ARM ARM HOLDINGS PLC-ADR BNSP5P7 140.49 143 20,090.07
0.05 CASH 1.00 9,603 9,602.60
0.02 XND US 01/17/25 P202 60.00 48 2,880.00
0.01 OTHER PAYABLE & RECEIVABLES 1.00 2,241 2,241.38
-0.03 XND US 01/17/25 C212 104.00 -48 -4,992.00
-0.36 NDX US 01/17/25 C21250 7,930.00 -8 -63,440.00
Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Characteristics As of 01/10/25

Return on Equity 22.00%
Weighted Avg. Market Cap 1,268,180 M
2023 2024
Price-to-earnings 36.10 31.79
Price-to-book value 7.62 6.46

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.