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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 03/13/25

Inception Date 08/25/21
Total Expense Ratio 0.60%
Net Assets $18.56 million
NAV $16.72
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 03/13/25

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 0.23%

Distributions As of 03/13/25

30-Day SEC Yield 0.21%
Trailing 12-Month Distribution (%) 1 13.04%
Distribution Rate 2 12.27%
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 03/13/25

NAV $16.72 Daily Change -$0.02 -0.12%
Market Price $16.76 Daily Change $0.03 0.18%

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% 12.12%
3 Years 4.26% 4.24% 5.14%
Since Inception 0.62% 0.65% 0.98%
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% 0.33%
1 Month -1.64% -1.53% -1.41%
3 Months 3.08% 3.08% 3.39%
Since Inception 2.20% 2.31% 3.50%

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 03/13/25

Nasdaq 100 Price 19,225.48 Nasdaq 100 Mini Price 192.25

Upside Cap Details

Option Positions Notional Exposure Strike Upside Before Cap Expiration Date Calendar Days to Expiry
Short NASDAQ Call Option -$15,380,384 21925 14.04% 03/21/2025 8
Short NASDAQ 100 Micro Call Option -$2,037,901 219 13.91% 03/21/2025 8

Downside Floor Details

Option Positions Notional Exposure Strike Downside Before Floor Expiration Date Calendar Days to Expiry
Long NASDAQ Put Option $15,380,384 20850 0.00% 03/21/2025 8
Long NASDAQ 100 Micro Put Option $2,037,901 208 0.00% 03/21/2025 8

Top Holdings As of 03/13/25

Full Holdings (.csv)
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
8.26 AAPL APPLE INC 2046251 209.68 7,439 1,559,809.52
7.37 NVDA NVIDIA CORP 2379504 115.58 12,052 1,392,970.16
7.33 MSFT MICROSOFT CORP 2588173 378.77 3,656 1,384,783.12
6.79 NDX US 03/21/25 P20850 160,345.00 8 1,282,760.00
5.31 AMZN AMAZON.COM INC 2000019 193.89 5,173 1,002,992.97
3.85 AVGO BROADCOM INC BDZ78H9 191.36 3,800 727,168.00
3.36 META META PLATFORMS INC B7TL820 590.12 1,075 634,373.63
2.53 COST COSTCO WHOLESALE CORP 2701271 890.62 537 478,262.94
2.47 GOOGL ALPHABET INC-CL A BYVY8G0 162.76 2,867 466,632.92
2.45 NFLX NETFLIX INC 2857817 890.17 519 461,998.23
2.37 GOOG ALPHABET INC-CL C BYY88Y7 164.73 2,717 447,571.41
2.27 TSLA TESLA INC B616C79 240.68 1,783 429,132.44
1.92 TMUS T-MOBILE US INC B94Q9V0 259.10 1,398 362,221.80
1.52 CSCO CISCO SYSTEMS INC 2198163 59.67 4,806 286,774.02
1.38 LIN LINDE PLC BNZHB81 453.26 573 259,717.98
1.30 PEP PEPSICO INC 2681511 148.34 1,655 245,502.70
1.11 PLTR PALANTIR TECHN-A BN78DQ4 79.62 2,626 209,082.12
1.09 ISRG INTUITIVE SURGICAL INC 2871301 476.78 430 205,015.40
1.08 QCOM QUALCOMM INC 2714923 151.94 1,338 203,295.72
1.07 AMGN AMGEN INC 2023607 312.64 648 202,590.72
1.06 ADBE ADOBE INC 2008154 377.84 532 201,010.88
1.04 INTU INTUIT INC 2459020 581.32 337 195,904.84
1.01 AMD ADVANCED MICRO DEVICES 2007849 98.11 1,951 191,412.61
1.01 TXN TEXAS INSTRUMENTS INC 2885409 173.60 1,100 190,960.00
0.89 GILD GILEAD SCIENCES INC 2369174 112.56 1,495 168,277.20
0.88 XND US 03/21/25 P208 1,564.96 106 165,885.76
0.86 BKNG BOOKING HOLDINGS INC BDRXDB4 4,295.40 38 163,225.20
0.85 HON HONEYWELL INTL 2020459 206.69 781 161,424.89
0.84 CMCSA COMCAST CORP-CLASS A 2044545 34.70 4,587 159,168.90
0.83 VRTX VERTEX PHARM 2931034 502.92 311 156,408.12
0.79 AMAT APPLIED MATERIALS INC 2046552 149.95 992 148,750.40
0.77 ADP AUTOMATIC DATA PROCESSING 2065308 289.01 500 144,505.00
0.74 PANW PALO ALTO NETWORKS INC B87ZMX0 176.32 788 138,940.16
0.69 SBUX STARBUCKS CORP 2842255 96.04 1,361 130,710.44
0.67 MELI MERCADOLIBRE INC B23X1H3 1,989.70 64 127,340.80
0.67 MU MICRON TECHNOLOGY INC 2588184 94.88 1,336 126,759.68
0.65 INTC INTEL CORP 2463247 23.70 5,169 122,505.30
0.64 ADI ANALOG DEVICES INC 2032067 203.80 594 121,057.20
0.62 LRCX LAM RESEARCH CORP BSML4N7 75.26 1,544 116,201.44
0.58 KLAC KLA CORP 2480138 681.50 161 109,721.50
0.55 MDLZ MONDELEZ INTER-A B8CKK03 64.69 1,597 103,309.93
0.53 PDD PDD HOLDINGS INC BYVW0F7 118.76 837 99,402.12
0.51 APP APPLOVIN CORP-CLASS A BMV3LG4 272.00 357 97,104.00
0.50 CTAS CINTAS CORP 2197137 190.58 494 94,146.52
0.50 CRWD CROWDSTRIKE HO-A BJJP138 332.53 283 94,105.99
0.49 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 1,289.49 71 91,553.79
0.46 REGN REGENERON PHARMACEUTICALS 2730190 680.61 128 87,118.08
0.45 FTNT FORTINET INC B5B2106 93.42 915 85,479.30
0.45 DASH DOORDASH INC - A BN13P03 178.29 475 84,687.75
0.44 SNPS SYNOPSYS INC 2867719 428.58 194 83,144.52
0.44 CDNS CADENCE DESIGN SYS INC 2302232 241.56 342 82,613.52
0.44 MAR MARRIOTT INTL-A 2210614 237.29 346 82,102.34
0.42 PYPL PAYPAL HOLDINGS INC BYW36M8 66.91 1,198 80,158.18
0.41 CEG CONSTELLATION ENERGY BMH4FS1 209.87 372 78,071.64
0.40 ASML ASML HOLDING-NY B908F01 694.59 108 75,015.72
0.39 MSTR MICROSTRATEGY INC-CL A 2974329 263.26 278 73,186.28
0.38 ROP ROPER TECHNOLOGIES INC 2749602 562.88 129 72,611.52
0.38 MRVL MARVELL TECHNOLOGY INC BNKJSM5 68.76 1,034 71,097.84
0.37 AEP AMERICAN ELECTRIC POWER 2026242 104.24 667 69,528.08
0.35 CSX CSX CORP 2160753 29.13 2,296 66,882.48
0.34 PAYX PAYCHEX INC 2674458 143.56 450 64,602.00
0.34 ADSK AUTODESK INC 2065159 246.93 260 64,201.80
0.34 NXPI NXP SEMICONDUCTORS NV B505PN7 201.02 316 63,522.32
0.34 ABNB AIRBNB INC-CLASS A BMGYYH4 119.38 532 63,510.16
0.33 CHTR CHARTER COMMUN-A BZ6VT82 345.40 182 62,862.80
0.33 MNST MONSTER BEVERAGE CORP BZ07BW4 54.34 1,150 62,491.00
0.33 PCAR PACCAR INC 2665861 98.42 624 61,414.08
0.32 WDAY WORKDAY INC-CLASS A B8K6ZD1 237.22 257 60,965.54
0.32 CPRT COPART INC 2208073 52.30 1,141 59,674.30
0.29 AZN ASTRAZENECA PLC-SPONS ADR 2989044 76.51 722 55,240.22
0.28 KDP KEURIG DR PEPPER INC BD3W133 33.11 1,606 53,174.66
0.28 FANG DIAMONDBACK ENERGY INC B7Y8YR3 145.80 362 52,779.60
0.28 ROST ROSS STORES INC 2746711 123.30 421 51,909.30
0.27 EXC EXELON CORP 2670519 43.47 1,187 51,598.89
0.26 FAST FASTENAL CO 2332262 73.69 675 49,740.75
0.26 BKR BAKER HUGHES CO BDHLTQ5 41.74 1,171 48,877.54
0.26 VRSK VERISK ANALYTICS INC B4P9W92 289.05 169 48,849.45
0.26 AXON AXON ENTERPRISE INC BDT5S35 534.56 91 48,644.96
0.26 CTSH COGNIZANT TECH-A 2257019 78.34 615 48,179.10
0.25 XEL XCEL ENERGY INC 2614807 68.10 692 47,121.74
0.25 CCEP COCA-COLA EUROPA BYQQ3P5 82.28 571 46,981.88
0.25 GEHC GE HEALTHCARE TECHNOLOGY BL6JPG8 81.45 569 46,345.05
0.24 EA ELECTRONIC ARTS INC 2310194 137.72 333 45,860.76
0.24 TTWO TAKE-TWO INTERAC 2122117 203.63 225 45,816.75
0.24 LULU LULULEMON ATHLETICA INC B23FN39 309.68 147 45,522.96
0.23 KHC KRAFT HEINZ CO/THE BYRY499 30.19 1,421 42,899.99
0.22 ODFL OLD DOMINION FREIGHT LINE 2656423 162.98 258 42,048.84
0.22 IDXX IDEXX LABORATORIES INC 2459202 406.29 102 41,441.58
0.22 TEAM ATLASSIAN CORP-CL A BQ1PC76 208.00 199 41,392.00
0.20 DDOG DATADOG INC - CLASS A BKT9Y49 98.68 385 37,991.80
0.20 ZS ZSCALER INC BZ00V34 189.58 200 37,916.00
0.20 CSGP COSTAR GROUP INC 2262864 75.44 491 37,041.04
0.19 ANSS ANSYS INC 2045623 317.56 112 35,566.72
0.18 DXCM DEXCOM INC B0796X4 68.48 482 33,007.36
0.17 MCHP MICROCHIP TECHNOLOGY INC 2592174 51.89 629 32,638.81
0.16 TTD TRADE DESK INC-A BD8FDD1 53.88 561 30,226.68
0.15 WBD WARNER BROS DISCOVERY INC BM8JYX3 9.89 2,842 28,107.38
0.14 CDW CDW CORP/DE BBM5MD6 163.50 165 26,977.50
0.13 BIIB BIOGEN INC 2455965 139.98 175 24,496.50
0.12 GFS GLOBALFOUNDRIES INC BMW7F63 36.53 637 23,269.61
0.11 ON ON SEMICONDUCTOR 2583576 42.15 509 21,454.35
0.10 MDB MONGODB INC BF2FJ99 185.10 98 18,139.80
0.09 ARM ARM HOLDINGS PLC-ADR BNSP5P7 112.05 154 17,255.70
0.05 OTHER PAYABLE & RECEIVABLES 1.00 9,320 9,319.61
0.05 CASH 1.00 8,984 8,983.76
0.00 XND US 03/21/25 C219 0.01 -106 -1.06
0.00 NDX US 03/21/25 C21925 80.00 -8 -640.00
Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Characteristics As of 03/13/25

Return on Equity 25.60%
Weighted Avg. Market Cap 1,258,460 M
2024 2025
Price-to-earnings 30.85 25.84
Price-to-book value 7.36 6.01

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 02/28/25

Versus Beta
S&P 500 0.36
NASDAQ-100 0.32
MSCI EAFE 0.26
MSCI Emg. Mkts 0.22
Standard Deviation 7.70%

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.