QTR

Nasdaq 100 Tail Risk ETF

Morningstar Rating™ - Overall rating out of 149 Equity Hedged funds, based on risk-adjusted returns as of 01/31/2025

Reasons to Consider QTR

Growth Potential

QTR offers uncapped exposure to the growth potential¹ of the stocks in the Nasdaq 100 Index.

Manage Downside Risk

By buying protective puts, QTR seeks to mitigate significant selloffs of greater than approximately -10% from the purchase of the put to the options’ expiration in three months.

Efficient Options Execution

QTR buys put options on the Nasdaq 100, saving investors the time and potential expense of doing so individually.

¹QTR’s growth potential will decrease by the cost of the premiums paid

Key Information As of 02/11/25

Inception Date	08/25/21
Total Expense Ratio	0.25%
Net Assets	$3.55 million
NAV	$32.23
Fact Sheet	View the document

ETF Summary

The Global X Nasdaq 100 Tail Risk ETF (QTR) employs a protective put strategy for investors seeking to buffer against market selloffs. QTR seeks to achieve this outcome by owning the stocks in the Nasdaq 100 Index, coupled with buying 10% out-of-the-money put options² on the Nasdaq 100 Index.

ETF Objective

The Global X Nasdaq 100 Tail Risk ETF (QTR) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Nasdaq-100 Quarterly Protective Put 90 Index.

Trading Details As of 02/11/25

Ticker	QTR
Bloomberg Index Ticker	NQTRI
CUSIP	37960A404
ISIN	US37960A4040
Primary Exchange	Nasdaq
Shares Outstanding	110,000
Number of Holdings	103
30-Day Median Bid-Ask Spread	0.34%

Distributions As of 02/11/25

30-Day SEC Yield	0.55%
Distribution Frequency	Semi-Annually

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 (learn more)

ETF Prices As of 02/11/25

NAV	$32.23	Daily Change	-$0.09	-0.28%
Market Price	$32.22	Daily Change	-$0.05	-0.15%

As of recent (12/31/24) As of recent (12/31/24)	Fund NAV	Market Price	Index
1 Year	21.26%	21.45%	21.84%
3 Years	7.87%	7.81%	8.32%
Since Inception	8.01%	8.01%	8.47%
1 Year	21.21%	21.53%	21.84%
3 Years	11.26%	11.41%	11.63%
Since Inception	8.28%	8.34%	8.75%
Year-to-Date	21.26%	21.45%	21.84%
1 Month	0.43%	0.43%	0.48%
3 Months	4.03%	4.10%	4.11%
Since Inception	29.50%	29.50%	31.36%
Year-to-Date	1.52%	1.71%	1.58%
1 Month	1.52%	1.71%	1.58%
3 Months	6.60%	6.73%	6.70%
Since Inception	31.47%	31.72%	33.43%

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.

Nasdaq 100 Price

21,693.52

Nasdaq 100 Mini Price

216.94

Downside Floor Details

Option Positions	Notional Exposure	Strike	Downside Before Floor	Expiration Date	Calendar Days to Expiry
Long NASDAQ 100 Micro Put Option	$1,366,692	192	-11.49%	03/21/2025	38
Long NASDAQ Put Option	$2,169,352	19200	-11.49%	03/21/2025	38

Net Assets (%)	Ticker	Name	SEDOL	Market Price ($)	Shares Held	Market Value ($)
8.79	AAPL	APPLE INC	2046251	232.62	1,339	311,478.18
8.12	NVDA	NVIDIA CORP	2379504	132.80	2,169	288,043.20
7.65	MSFT	MICROSOFT CORP	2588173	411.44	659	271,138.96
6.12	AMZN	AMAZON.COM INC	2000019	232.76	932	216,932.32
4.53	AVGO	BROADCOM INC	BDZ78H9	235.04	684	160,767.36
3.92	META	META PLATFORMS INC	B7TL820	719.80	193	138,921.40
2.97	TSLA	TESLA INC	B616C79	328.50	321	105,448.50
2.90	COST	COSTCO WHOLESALE CORP	2701271	1,058.34	97	102,658.98
2.70	GOOGL	ALPHABET INC-CL A	BYVY8G0	185.32	517	95,810.44
2.64	NFLX	NETFLIX INC	2857817	1,008.08	93	93,751.44
2.59	GOOG	ALPHABET INC-CL C	BYY88Y7	187.07	490	91,664.30
1.85	TMUS	T-MOBILE US INC	B94Q9V0	258.70	253	65,451.10
1.53	CSCO	CISCO SYSTEMS INC	2198163	62.43	866	54,064.38
1.51	PLTR	PALANTIR TECHN-A	BN78DQ4	112.62	476	53,607.12
1.34	LIN	LINDE PLC	BNZHB81	460.74	103	47,456.22
1.29	ISRG	INTUITIVE SURGICAL INC	2871301	591.65	77	45,557.05
1.26	ADBE	ADOBE INC	2008154	458.82	97	44,505.54
1.22	PEP	PEPSICO INC	2681511	145.64	297	43,255.08
1.17	QCOM	QUALCOMM INC	2714923	171.99	242	41,621.58
1.10	AMD	ADVANCED MICRO DEVICES	2007849	111.10	352	39,107.20
1.01	INTU	INTUIT INC	2459020	585.88	61	35,738.68
1.00	TXN	TEXAS INSTRUMENTS INC	2885409	179.25	198	35,491.50
0.98	AMGN	AMGEN INC	2023607	296.66	117	34,709.22
0.97	BKNG	BOOKING HOLDINGS INC	BDRXDB4	4,897.32	7	34,281.24
0.93	AMAT	APPLIED MATERIALS INC	2046552	183.20	179	32,792.80
0.83	CMCSA	COMCAST CORP-CLASS A	2044545	35.23	839	29,557.97
0.82	HON	HONEYWELL INTL	2020459	206.94	141	29,178.54
0.79	PANW	PALO ALTO NETWORKS INC	B87ZMX0	195.49	143	27,955.07
0.77	SBUX	STARBUCKS CORP	2842255	111.03	245	27,202.35
0.76	ADP	AUTOMATIC DATA PROCESSING	2065308	305.78	88	26,908.64
0.74	GILD	GILEAD SCIENCES INC	2369174	96.14	271	26,053.94
0.72	VRTX	VERTEX PHARM	2931034	455.22	56	25,492.32
0.69	APP	APPLOVIN CORP-CLASS A	BMV3LG4	375.25	65	24,391.25
0.66	LRCX	LAM RESEARCH CORP	BSML4N7	83.26	280	23,312.80
0.64	MU	MICRON TECHNOLOGY INC	2588184	94.08	241	22,673.28
0.63	MELI	MERCADOLIBRE INC	B23X1H3	2,035.18	11	22,386.98
0.62	CRWD	CROWDSTRIKE HO-A	BJJP138	431.64	51	22,013.64
0.62	KLAC	KLA CORP	2480138	758.62	29	21,999.98
0.62	ADI	ANALOG DEVICES INC	2032067	203.46	108	21,973.68
0.60	CEG	CONSTELLATION ENERGY	BMH4FS1	313.58	68	21,323.44
0.58	MRVL	MARVELL TECHNOLOGY INC	BNKJSM5	109.12	187	20,405.44
0.55	INTC	INTEL CORP	2463247	20.97	927	19,439.19
0.51	FTNT	FORTINET INC	B5B2106	108.33	167	18,091.11
0.51	CTAS	CINTAS CORP	2197137	205.40	88	18,075.20
0.51	CDNS	CADENCE DESIGN SYS INC	2302232	303.87	59	17,928.33
0.50	MAR	MARRIOTT INTL-A	2210614	288.00	62	17,856.00
0.49	MDLZ	MONDELEZ INTER-A	B8CKK03	60.45	289	17,470.05
0.49	SNPS	SYNOPSYS INC	2867719	529.14	33	17,461.62
0.48	PDD	PDD HOLDINGS INC	BYVW0F7	117.48	145	17,034.60
0.47	PYPL	PAYPAL HOLDINGS INC	BYW36M8	76.21	218	16,613.78
0.46	DASH	DOORDASH INC - A	BN13P03	193.09	84	16,219.56
0.45	ORLY	O'REILLY AUTOMOTIVE INC	B65LWX6	1,323.94	12	15,887.28
0.44	MSTR	MICROSTRATEGY INC-CL A	2974329	319.46	49	15,653.54
0.43	REGN	REGENERON PHARMACEUTICALS	2730190	665.46	23	15,305.58
0.43	ASML	ASML HOLDING-NY	B908F01	752.98	20	15,059.60
0.39	CSX	CSX CORP	2160753	33.11	418	13,839.98
0.39	ADSK	AUTODESK INC	2065159	299.72	46	13,787.12
0.38	ROP	ROPER TECHNOLOGIES INC	2749602	581.35	23	13,371.05
0.37	ABNB	AIRBNB INC-CLASS A	BMGYYH4	134.52	97	13,048.44
0.35	CPRT	COPART INC	2208073	59.23	211	12,497.53
0.34	WDAY	WORKDAY INC-CLASS A	B8K6ZD1	263.00	46	12,098.00
0.34	AEP	AMERICAN ELECTRIC POWER	2026242	101.88	117	11,919.96
0.33	PCAR	PACCAR INC	2665861	105.76	112	11,845.12
0.33	TTD	TRADE DESK INC-A	BD8FDD1	120.21	98	11,780.58
0.33	NXPI	NXP SEMICONDUCTORS NV	B505PN7	210.97	55	11,603.35
0.32	PAYX	PAYCHEX INC	2674458	146.10	77	11,249.70
0.31	CHTR	CHARTER COMMUN-A	BZ6VT82	350.92	31	10,878.52
0.30	TEAM	ATLASSIAN CORP-CL A	BQ1PC76	315.00	34	10,710.00
0.30	AXON	AXON ENTERPRISE INC	BDT5S35	669.26	16	10,708.16
0.30	FANG	DIAMONDBACK ENERGY INC	B7Y8YR3	162.01	65	10,530.65
0.29	ROST	ROSS STORES INC	2746711	141.27	73	10,312.71
0.29	BKR	BAKER HUGHES CO	BDHLTQ5	47.11	215	10,128.65
0.29	MNST	MONSTER BEVERAGE CORP	BZ07BW4	48.06	210	10,092.60
0.28	LULU	LULULEMON ATHLETICA INC	B23FN39	397.63	25	9,940.75
0.28	DDOG	DATADOG INC - CLASS A	BKT9Y49	145.42	67	9,743.14
0.27	ODFL	OLD DOMINION FREIGHT LINE	2656423	205.77	46	9,465.42
0.27	KDP	KEURIG DR PEPPER INC	BD3W133	31.56	299	9,436.44
0.27	CTSH	COGNIZANT TECH-A	2257019	87.87	107	9,402.09
0.27	AZN	ASTRAZENECA PLC-SPONS ADR	2989044	72.73	129	9,382.17
0.26	EXC	EXELON CORP	2670519	42.36	220	9,319.20
0.26	FAST	FASTENAL CO	2332262	74.33	123	9,142.59
0.26	VRSK	VERISK ANALYTICS INC	B4P9W92	294.30	31	9,123.30
0.25	GEHC	GE HEALTHCARE TECHNOLOGY	BL6JPG8	87.03	100	8,703.00
0.24	IDXX	IDEXX LABORATORIES INC	2459202	463.74	18	8,347.32
0.23	XEL	XCEL ENERGY INC	2614807	67.19	123	8,264.37
0.23	CCEP	COCA-COLA EUROPA	BYQQ3P5	81.53	101	8,234.53
0.22	KHC	KRAFT HEINZ CO/THE	BYRY499	29.58	266	7,868.28
0.21	TTWO	TAKE-TWO INTERAC	2122117	209.94	36	7,557.84
0.21	EA	ELECTRONIC ARTS INC	2310194	133.35	56	7,467.60
0.21	DXCM	DEXCOM INC	B0796X4	86.38	86	7,428.68
0.20	ZS	ZSCALER INC	BZ00V34	209.24	33	6,904.92
0.19	CSGP	COSTAR GROUP INC	2262864	76.00	90	6,840.00
0.18	ANSS	ANSYS INC	2045623	341.43	19	6,487.17
0.17	MCHP	MICROCHIP TECHNOLOGY INC	2592174	52.58	116	6,099.28
0.16	CDW	CDW CORP/DE	BBM5MD6	191.74	30	5,752.20
0.15		NDX US 03/21/25 P19200		5,355.00	1	5,355.00
0.15	WBD	WARNER BROS DISCOVERY INC	BM8JYX3	9.85	542	5,338.70
0.14	GFS	GLOBALFOUNDRIES INC	BMW7F63	40.10	123	4,932.30
0.13	BIIB	BIOGEN INC	2455965	139.39	32	4,460.48
0.13	ON	ON SEMICONDUCTOR	2583576	47.93	93	4,457.49
0.12	MDB	MONGODB INC	BF2FJ99	286.12	15	4,291.80
0.12	ARM	ARM HOLDINGS PLC-ADR	BNSP5P7	157.74	26	4,101.24
0.10		XND US 03/21/25 P192		56.50	63	3,559.50
0.06		CASH		1.00	1,949	1,949.23
0.02		OTHER PAYABLE & RECEIVABLES		1.00	536	535.58

Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Characteristics As of 02/11/25

Return on Equity	25.80%
Weighted Avg. Market Cap	1,382,130 M
	2024	2025
Price-to-earnings	32.75	26.99
Price-to-book value	7.76	6.33

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 01/31/25

Versus	Beta
S&P 500	0.95
NASDAQ-100	0.85
MSCI EAFE	0.69
MSCI Emg. Mkts	0.61
Standard Deviation	18.50%

Source: new windowAltaVista Research, LLC

ETF Research

ETF Documents

Latest Premium / Discount As of 02/11/25

NAV	$32.23
Market Price	$32.22
Premium / (Discount)	($0.01)

Current View 2025 Q1 As of 02/11/25

Days at Premium	11
Days at NAV	0
Days at Discount	16
Greatest Premium	0.51%
Greatest Discount	-0.38%

Daily Premium / Discount History As of 02/11/25

Hover over the chart points for details

View Chart Explanation

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How can the Fund trade at a premium/discount to its NAV?

The primary explanation is that timing discrepancies can arise between the NAV and the trading price of the Fund. Since shares of the Fund trade on the open market, prices are affected by the constant flow of information received by investors, corporations and financial institutions. Depending on how this changing information affects investor sentiment, shares of the Fund may deviate slightly from the value of the Fund's underlying assets. The NAV of the Fund is only calculated once a day (normally at 4:00 p.m. eastern time). As a result, shareholders may pay more than NAV when they buy Fund shares and receive less than NAV when they sell those shares, because shares are purchased and sold at current market prices. However, due to the creation and redemption process that is unique to ETFs, market makers are able to minimize these deviations from NAV by taking advantage of arbitrage opportunities.

What causes these time discrepancies?

Close of Trading Times. Although both the NAV and the daily market price of the Fund are generally calculated based on prices at the closing time of the exchange (generally 4:00 p.m. eastern time), slight differences in this timing may cause discrepancies.

Time of Last Trade. Trading of Global X funds generally takes place during normal trading hours (9:30 a.m. to 4:00 p.m. eastern time). However, it is important to note that the last trade - from which the closing price is determined - may not occur at exactly 4:00 p.m. eastern time. Therefore, changing market sentiment during the time difference may cause the NAV to deviate from the closing price.

International Holdings. The premiums and discounts for funds with significant holdings in international markets may be less accurate due to the different closing times of various international markets. Because the Funds trade during U.S. market hours while the underlying securities may not, the time lapse between the markets can result in differences between the NAV and the trading price.

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales load. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three- year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

As of 1/31, QTR was rated against the following numbers of Equity Hedged funds over the following time periods: 149 during the last 3 years. With respect to these Equity Hedged funds, QTR received a Morningstar Rating of 4 stars. Past performance is not indicative of future results.

© 2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Investing involves risk, including the possible loss of principal. Concentration in a particular industry or sector will subject QTR to loss due to adverse occurrences that may affect that industry or sector. Investors in QTR should be willing to accept a high degree of volatility in the price of the fund’s shares and the possibility of significant losses.

The Fund 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 strike price within a certain period or on a specific date. 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. QTR 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.

QTR