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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 02/10/25

Inception Date 08/25/21
Total Expense Ratio 0.61%
Net Assets $18.86 million
NAV $17.63
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 02/10/25

Ticker QRMI
Bloomberg Index Ticker NQRMII
CUSIP 37960A503
ISIN US37960A5039
Primary Exchange Nasdaq
Shares Outstanding 1,070,000
Number of Holdings 105
30-Day Median Bid-Ask Spread 0.28%

Distributions As of 02/10/25

30-Day SEC Yield 0.22%
Trailing 12-Month Distribution (%) 1 12.29%
Distribution Rate 2 13.18%
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 02/10/25

NAV $17.63 Daily Change $0.09 0.51%
Market Price $17.59 Daily Change $0.03 0.17%

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 14.56% 14.29% 15.78%
3 Years 3.50% 3.56% 3.98%
Since Inception 1.12% 1.12% 1.42%
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 1.72% 1.48% 1.77%
1 Month 1.72% 1.48% 1.77%
3 Months 6.79% 6.72% 6.90%
Since Inception 3.91% 3.89% 4.98%

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 02/10/25

Nasdaq 100 Price 21,756.73 Nasdaq 100 Mini Price 217.57

Upside Cap Details

Option Positions Notional Exposure Strike Upside Before Cap Expiration Date Calendar Days to Expiry
Short NASDAQ 100 Micro Call Option -$1,805,809 214 0.00% 02/21/2025 11
Short NASDAQ Call Option -$17,405,388 21450 0.00% 02/21/2025 11

Downside Floor Details

Option Positions Notional Exposure Strike Downside Before Floor Expiration Date Calendar Days to Expiry
Long NASDAQ 100 Micro Put Option $1,805,809 203 -6.70% 02/21/2025 11
Long NASDAQ Put Option $17,405,388 20375 -6.35% 02/21/2025 11

Top Holdings As of 02/10/25

Full Holdings (.csv)
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
8.76 AAPL APPLE INC 2046251 227.65 7,259 1,652,511.35
8.33 NVDA NVIDIA CORP 2379504 133.57 11,760 1,570,783.20
7.80 MSFT MICROSOFT CORP 2588173 412.22 3,569 1,471,213.18
6.24 AMZN AMAZON.COM INC 2000019 233.14 5,047 1,176,657.58
4.62 AVGO BROADCOM INC BDZ78H9 235.04 3,707 871,293.28
4.00 META META PLATFORMS INC B7TL820 717.40 1,051 753,987.40
3.24 TSLA TESLA INC B616C79 350.73 1,740 610,270.20
2.96 COST COSTCO WHOLESALE CORP 2701271 1,061.92 525 557,508.00
2.78 GOOGL ALPHABET INC-CL A BYVY8G0 186.47 2,812 524,353.64
2.75 NFLX NETFLIX INC 2857817 1,027.60 505 518,938.00
2.66 GOOG ALPHABET INC-CL C BYY88Y7 188.20 2,664 501,364.80
1.86 TMUS T-MOBILE US INC B94Q9V0 255.83 1,370 350,487.10
1.58 PLTR PALANTIR TECHN-A BN78DQ4 116.65 2,559 298,507.35
1.56 CSCO CISCO SYSTEMS INC 2198163 62.81 4,695 294,892.95
1.37 LIN LINDE PLC BNZHB81 460.86 559 257,620.74
1.33 ISRG INTUITIVE SURGICAL INC 2871301 595.70 421 250,789.70
1.24 ADBE ADOBE INC 2008154 451.10 519 234,120.90
1.24 PEP PEPSICO INC 2681511 144.35 1,615 233,125.25
1.19 QCOM QUALCOMM INC 2714923 171.36 1,305 223,624.80
1.12 AMD ADVANCED MICRO DEVICES 2007849 110.48 1,910 211,016.80
1.03 INTU INTUIT INC 2459020 586.84 330 193,657.20
1.02 TXN TEXAS INSTRUMENTS INC 2885409 180.31 1,071 193,112.01
0.99 BKNG BOOKING HOLDINGS INC BDRXDB4 4,913.48 38 186,712.24
0.99 AMGN AMGEN INC 2023607 294.79 631 186,012.49
0.94 AMAT APPLIED MATERIALS INC 2046552 183.66 967 177,599.22
0.84 HON HONEYWELL INTL 2020459 208.52 762 158,892.24
0.82 CMCSA COMCAST CORP-CLASS A 2044545 34.47 4,509 155,425.23
0.80 PANW PALO ALTO NETWORKS INC B87ZMX0 196.40 768 150,835.20
0.78 SBUX STARBUCKS CORP 2842255 111.45 1,327 147,894.15
0.78 ADP AUTOMATIC DATA PROCESSING 2065308 306.93 476 146,098.68
0.75 VRTX VERTEX PHARM 2931034 469.97 302 141,930.94
0.74 GILD GILEAD SCIENCES INC 2369174 95.48 1,459 139,305.32
0.73 APP APPLOVIN CORP-CLASS A BMV3LG4 384.40 359 137,999.60
0.67 LRCX LAM RESEARCH CORP BSML4N7 83.73 1,504 125,929.92
0.66 MU MICRON TECHNOLOGY INC 2588184 95.93 1,303 124,996.79
0.65 MELI MERCADOLIBRE INC B23X1H3 2,042.22 60 122,533.20
0.64 ADI ANALOG DEVICES INC 2032067 204.86 592 121,277.12
0.63 CRWD CROWDSTRIKE HO-A BJJP138 428.92 277 118,810.84
0.63 CEG CONSTELLATION ENERGY BMH4FS1 321.83 369 118,755.27
0.62 KLAC KLA CORP 2480138 751.46 155 116,476.30
0.61 MRVL MARVELL TECHNOLOGY INC BNKJSM5 112.80 1,024 115,507.20
0.54 INTC INTEL CORP 2463247 19.77 5,102 100,866.54
0.53 MAR MARRIOTT INTL-A 2210614 304.45 328 99,859.60
0.53 FTNT FORTINET INC B5B2106 109.55 909 99,580.95
0.53 CDNS CADENCE DESIGN SYS INC 2302232 305.63 324 99,024.12
0.51 SNPS SYNOPSYS INC 2867719 531.33 182 96,702.06
0.51 CTAS CINTAS CORP 2197137 203.97 470 95,865.90
0.49 MDLZ MONDELEZ INTER-A B8CKK03 58.53 1,593 93,238.29
0.49 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 1,310.02 71 93,011.42
0.49 PDD PDD HOLDINGS INC BYVW0F7 116.34 795 92,490.30
0.49 PYPL PAYPAL HOLDINGS INC BYW36M8 78.24 1,170 91,540.80
0.48 REGN REGENERON PHARMACEUTICALS 2730190 690.36 130 89,746.80
0.47 MSTR MICROSTRATEGY INC-CL A 2974329 334.62 266 89,008.92
0.46 DASH DOORDASH INC - A BN13P03 192.63 451 86,876.13
0.40 CSX CSX CORP 2160753 33.08 2,301 76,117.08
0.40 ASML ASML HOLDING-NY B908F01 742.49 102 75,734.44
0.40 ADSK AUTODESK INC 2065159 304.99 248 75,637.52
0.38 ROP ROPER TECHNOLOGIES INC 2749602 574.52 123 70,665.96
0.36 ABNB AIRBNB INC-CLASS A BMGYYH4 135.24 502 67,890.48
0.36 CPRT COPART INC 2208073 58.63 1,142 66,955.46
0.35 WDAY WORKDAY INC-CLASS A B8K6ZD1 269.88 245 66,120.60
0.35 PCAR PACCAR INC 2665861 106.11 623 66,106.53
0.35 TTD TRADE DESK INC-A BD8FDD1 122.54 531 65,068.74
0.34 AXON AXON ENTERPRISE INC BDT5S35 677.85 95 64,395.75
0.34 AEP AMERICAN ELECTRIC POWER 2026242 100.83 631 63,623.73
0.33 PAYX PAYCHEX INC 2674458 147.01 426 62,626.26
0.33 NXPI NXP SEMICONDUCTORS NV B505PN7 210.05 298 62,594.90
0.32 TEAM ATLASSIAN CORP-CL A BQ1PC76 322.94 187 60,389.78
0.31 CHTR CHARTER COMMUN-A BZ6VT82 343.73 170 58,434.10
0.30 ROST ROSS STORES INC 2746711 142.13 397 56,425.61
0.30 LULU LULULEMON ATHLETICA INC B23FN39 399.71 141 56,359.11
0.30 FANG DIAMONDBACK ENERGY INC B7Y8YR3 161.66 344 55,611.04
0.30 MNST MONSTER BEVERAGE CORP BZ07BW4 47.81 1,162 55,555.22
0.29 BKR BAKER HUGHES CO BDHLTQ5 47.18 1,171 55,247.78
0.29 DDOG DATADOG INC - CLASS A BKT9Y49 147.10 367 53,985.70
0.27 VRSK VERISK ANALYTICS INC B4P9W92 294.00 174 51,156.00
0.27 CTSH COGNIZANT TECH-A 2257019 86.96 585 50,871.60
0.26 AZN ASTRAZENECA PLC-SPONS ADR 2989044 72.66 686 49,844.76
0.26 FAST FASTENAL CO 2332262 73.72 675 49,761.00
0.26 ODFL OLD DOMINION FREIGHT LINE 2656423 201.78 246 49,637.88
0.26 KDP KEURIG DR PEPPER INC BD3W133 30.90 1,606 49,625.40
0.26 EXC EXELON CORP 2670519 41.80 1,181 49,365.80
0.25 GEHC GE HEALTHCARE TECHNOLOGY BL6JPG8 87.50 539 47,162.50
0.24 TTWO TAKE-TWO INTERAC 2122117 212.51 213 45,264.63
0.24 IDXX IDEXX LABORATORIES INC 2459202 464.91 96 44,631.36
0.23 XEL XCEL ENERGY INC 2614807 66.88 656 43,873.28
0.23 CCEP COCA-COLA EUROPA BYQQ3P5 80.42 541 43,507.22
0.22 EA ELECTRONIC ARTS INC 2310194 132.09 315 41,608.35
0.22 KHC KRAFT HEINZ CO/THE BYRY499 28.96 1,427 41,325.92
0.21 DXCM DEXCOM INC B0796X4 88.27 458 40,427.66
0.21 ZS ZSCALER INC BZ00V34 212.53 188 39,955.64
0.19 ANSS ANSYS INC 2045623 342.00 106 36,252.00
0.19 CSGP COSTAR GROUP INC 2262864 76.97 467 35,944.99
0.18 MCHP MICROCHIP TECHNOLOGY INC 2592174 52.05 634 32,999.70
0.16 CDW CDW CORP/DE BBM5MD6 191.57 159 30,459.63
0.16 WBD WARNER BROS DISCOVERY INC BM8JYX3 9.98 2,968 29,620.64
0.14 MDB MONGODB INC BF2FJ99 286.36 92 26,345.12
0.13 GFS GLOBALFOUNDRIES INC BMW7F63 37.74 666 25,134.84
0.13 ARM ARM HOLDINGS PLC-ADR BNSP5P7 160.84 148 23,804.32
0.12 BIIB BIOGEN INC 2455965 142.54 163 23,234.02
0.12 ON ON SEMICONDUCTOR 2583576 47.04 479 22,532.16
0.08 CASH 1.00 14,881 14,880.59
0.07 NDX US 02/21/25 P20375 1,575.00 8 12,600.00
0.01 OTHER PAYABLE & RECEIVABLES 1.00 2,521 2,521.43
0.01 XND US 02/21/25 P203 17.50 83 1,452.50
-0.22 XND US 02/21/25 C214 497.50 -83 -41,292.50
-1.91 NDX US 02/21/25 C21450 44,940.00 -8 -359,520.00
Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Characteristics As of 02/10/25

Return on Equity 26.00%
Weighted Avg. Market Cap 1,408,410 M
2024 2025
Price-to-earnings 32.77 27.00
Price-to-book value 7.81 6.36

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

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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.