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 makes distributions on a monthly basis.

Key Information As of 04/17/24

Inception Date 08/25/21
Total Expense Ratio 0.61%
Net Assets $13.04 million
NAV $17.16
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 04/16/24

Ticker QRMI
Bloomberg Index Ticker NQRMII
CUSIP 37960A503
ISIN US37960A5039
Primary Exchange Nasdaq
Shares Outstanding 760,000
Number of Holdings 105
30-Day Median Bid-Ask Spread 0.29%

Distributions As of 04/17/24

30-Day SEC Yield 0.26%
12-Month Trailing Yield 12.97%
Distribution Yield 12.26%
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 04/17/24

NAV $17.16 Daily Change -$0.18 -1.04%
Market Price $17.20 Daily Change -$0.15 -0.86%

Performance History

As of recent month & quarter-end (03/31/24)
As of recent month & quarter-end (03/31/24)
Fund NAV Market Price Index
1 Year 8.80% 8.93% 9.57%
Since Inception -2.55% -2.47% -2.42%
1 Year 8.80% 8.93% 9.57%
Since Inception -2.55% -2.47% -2.42%
Year-to-Date 4.81% 4.99% 5.26%
1 Month 1.52% 1.52% 1.64%
3 Months 4.81% 4.99% 5.26%
Since Inception -6.50% -6.29% -6.17%
Year-to-Date 4.81% 4.99% 5.26%
1 Month 1.52% 1.52% 1.64%
3 Months 4.81% 4.99% 5.26%
Since Inception -6.50% -6.29% -6.17%

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 04/16/24

Nasdaq 100 Price 17,713.70 Nasdaq 100 Mini Price 3,542.73

Upside Cap Details

Option Positions Notional Exposure Strike Upside Before Cap Expiration Date Calendar Days to Expiry
Short NASDAQ 100 Reduced Value Call Option -$2,479,913 3600 1.62% 04/19/2024 3
Short NASDAQ Call Option -$10,628,198 17875 0.91% 04/19/2024 3

Downside Floor Details

Option Positions Notional Exposure Strike Downside Before Floor Expiration Date Calendar Days to Expiry
Long NASDAQ Put Option $10,628,198 16975 -4.17% 04/19/2024 3
Long NASDAQ 100 Reduced Value Put Option $2,479,913 3400 -4.03% 04/19/2024 3

Top Holdings As of 04/17/24

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
8.94 MSFT MICROSOFT CORP 2588173 411.84 2,831 1,165,919.04
7.58 AAPL APPLE INC 2046251 168.00 5,884 988,512.00
6.14 NVDA NVIDIA CORP 2379504 840.35 953 800,853.55
5.50 AMZN AMAZON.COM INC 2000019 181.28 3,957 717,324.96
5.05 META META PLATFORMS INC B7TL820 494.17 1,334 659,222.78
4.48 AVGO BROADCOM INC BDZ78H9 1,282.63 456 584,879.28
2.68 GOOGL ALPHABET INC-CL A BYVY8G0 155.47 2,244 348,874.68
2.60 GOOG ALPHABET INC-CL C BYY88Y7 156.88 2,158 338,547.04
2.40 COST COSTCO WHOLESALE CORP 2701271 715.19 437 312,538.03
2.19 TSLA TESLA INC B616C79 155.45 1,835 285,250.75
2.00 NFLX NETFLIX INC 2857817 613.69 426 261,431.94
1.88 AMD ADVANCED MICRO DEVICES 2007849 154.02 1,589 244,737.78
1.76 PEP PEPSICO INC 2681511 169.48 1,351 228,967.48
1.62 LIN LINDE PLC BNZHB81 446.79 473 211,331.67
1.62 ADBE ADOBE INC 2008154 474.45 444 210,655.80
1.46 CSCO CISCO SYSTEMS INC 2198163 47.79 3,977 190,060.83
1.43 TMUS T-MOBILE US INC B94Q9V0 160.09 1,166 186,664.94
1.38 QCOM QUALCOMM INC 2714923 164.32 1,096 180,094.72
1.29 INTU INTUIT INC 2459020 613.21 275 168,632.75
1.25 AMAT APPLIED MATERIALS INC 2046552 199.89 816 163,110.24
1.16 CMCSA COMCAST CORP-CLASS A 2044545 38.99 3,891 151,710.09
1.14 INTC INTEL CORP 2463247 35.68 4,153 148,179.04
1.14 TXN TEXAS INSTRUMENTS INC 2885409 165.70 893 147,970.10
1.07 AMGN AMGEN INC 2023607 264.07 526 138,900.82
0.99 ISRG INTUITIVE SURGICAL INC 2871301 374.17 346 129,462.82
0.97 MU MICRON TECHNOLOGY INC 2588184 116.33 1,082 125,869.06
0.93 HON HONEYWELL INTL 2020459 190.36 639 121,640.04
0.90 LRCX LAM RESEARCH CORP 2502247 912.26 129 117,681.54
0.87 BKNG BOOKING HOLDINGS INC BDRXDB4 3,443.91 33 113,649.03
0.77 VRTX VERTEX PHARM 2931034 393.10 255 100,240.50
0.75 ADP AUTOMATIC DATA PROCESSING 2065308 242.90 402 97,645.80
0.73 SBUX STARBUCKS CORP 2842255 86.21 1,110 95,693.10
0.73 REGN REGENERON PHARMACEUTICALS 2730190 901.19 105 94,624.95
0.71 ADI ANALOG DEVICES INC 2032067 189.43 486 92,062.98
0.67 MDLZ MONDELEZ INTER-A B8CKK03 66.51 1,319 87,726.69
0.67 KLAC KLA CORP 2480138 658.98 133 87,644.34
0.67 PANW PALO ALTO NETWORKS INC B87ZMX0 277.33 314 87,081.62
0.63 GILD GILEAD SCIENCES INC 2369174 66.93 1,220 81,654.60
0.60 SNPS SYNOPSYS INC 2867719 527.58 149 78,609.42
0.60 CDNS CADENCE DESIGN SYS INC 2302232 293.71 267 78,420.57
0.59 ASML ASML HOLDING-NY B908F01 907.61 84 76,239.24
0.57 PDD PDD HOLDINGS INC BYVW0F7 113.43 654 74,183.22
0.54 MELI MERCADOLIBRE INC B23X1H3 1,397.86 50 69,893.00
0.53 ABNB AIRBNB INC-CLASS A BMGYYH4 158.37 434 68,732.58
0.52 MAR MARRIOTT INTL-A 2210614 238.46 283 67,484.18
0.51 PYPL PAYPAL HOLDINGS INC BYW36M8 63.26 1,048 66,296.48
0.51 CTAS CINTAS CORP 2197137 668.51 99 66,182.49
0.50 CRWD CROWDSTRIKE HO-A BJJP138 293.69 223 65,492.87
0.50 CSX CSX CORP 2160753 34.16 1,917 65,484.72
0.49 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 1,094.80 58 63,498.40
0.46 PCAR PACCAR INC 2665861 115.93 521 60,399.53
0.44 CEG CONSTELLATION ENERGY BMH4FS1 185.40 309 57,288.60
0.44 MRVL MARVELL TECHNOLOGY INC BNKJSM5 66.48 857 56,973.36
0.44 NXPI NXP SEMICONDUCTORS NV B505PN7 226.92 250 56,730.00
0.43 MNST MONSTER BEVERAGE CORP BZ07BW4 54.25 1,035 56,148.75
0.43 ROP ROPER TECHNOLOGIES INC 2749602 526.47 106 55,805.82
0.40 WDAY WORKDAY INC-CLASS A B8K6ZD1 257.02 204 52,432.08
0.40 CPRT COPART INC 2208073 54.02 955 51,589.10
0.39 DXCM DEXCOM INC B0796X4 133.86 383 51,268.38
0.37 DASH DOORDASH INC - A BN13P03 130.90 369 48,302.10
0.37 FTNT FORTINET INC B5B2106 64.66 745 48,171.70
0.35 ADSK AUTODESK INC 2065159 214.92 213 45,777.96
0.35 MCHP MICROCHIP TECHNOLOGY INC 2592174 85.07 537 45,682.59
0.35 ODFL OLD DOMINION FREIGHT LINE 2656423 210.81 216 45,534.96
0.34 ROST ROSS STORES INC 2746711 132.79 335 44,484.65
0.33 KHC KRAFT HEINZ CO/THE BYRY499 36.90 1,182 43,615.80
0.33 PAYX PAYCHEX INC 2674458 119.14 360 42,890.40
0.33 KDP KEURIG DR PEPPER INC BD3W133 30.88 1,387 42,830.56
0.33 AEP AMERICAN ELECTRIC POWER 2026242 81.24 522 42,407.28
0.32 LULU LULULEMON ATHLETICA INC B23FN39 344.86 119 41,038.34
0.30 AZN ASTRAZENECA PLC-SPONS ADR 2989044 68.53 579 39,678.87
0.30 FAST FASTENAL CO 2332262 68.48 568 38,896.64
0.30 IDXX IDEXX LABORATORIES INC 2459202 478.24 81 38,737.44
0.30 GEHC GE HEALTHCARE TECHNOLOGY BL6JPG8 85.16 452 38,492.32
0.30 MRNA MODERNA INC BGSXTS3 103.44 372 38,479.68
0.28 DDOG DATADOG INC - CLASS A BKT9Y49 123.55 300 37,065.00
0.28 CHTR CHARTER COMMUN-A BZ6VT82 258.03 142 36,640.26
0.28 EXC EXELON CORP 2670519 36.42 986 35,910.12
0.27 TTD TRADE DESK INC-A BD8FDD1 80.13 443 35,497.59
0.27 FANG DIAMONDBACK ENERGY INC B7Y8YR3 201.15 173 34,798.95
0.26 CSGP COSTAR GROUP INC 2262864 85.46 403 34,440.38
0.26 CTSH COGNIZANT TECH-A 2257019 67.54 498 33,634.92
0.25 EA ELECTRONIC ARTS INC 2310194 126.31 259 32,714.29
0.25 VRSK VERISK ANALYTICS INC B4P9W92 222.25 144 32,004.00
0.24 BKR BAKER HUGHES CO BDHLTQ5 32.02 995 31,859.90
0.24 CDW CDW CORP/DE BBM5MD6 236.78 134 31,728.52
0.23 TEAM ATLASSIAN CORP-CL A BQ1PC76 195.07 153 29,845.71
0.23 CCEP COCA-COLA EUROPA BYQQ3P5 66.35 443 29,393.05
0.22 XEL XCEL ENERGY INC 2614807 53.19 546 29,041.74
0.21 ANSS ANSYS INC 2045623 325.62 85 27,677.70
0.21 BIIB BIOGEN INC 2455965 192.16 144 27,671.04
0.21 ON ON SEMICONDUCTOR 2583576 64.47 428 27,593.16
0.21 DLTR DOLLAR TREE INC 2272476 123.75 216 26,730.00
0.20 ZS ZSCALER INC BZ00V34 172.96 147 25,425.12
0.19 GFS GLOBALFOUNDRIES INC BMW7F63 47.36 531 25,148.16
0.19 TTWO TAKE-TWO INTERAC 2122117 143.16 172 24,623.52
0.19 MDB MONGODB INC BF2FJ99 342.75 71 24,335.25
0.15 CASH 1.00 19,982 19,982.01
0.15 WBD WARNER BROS DISCOVERY INC BM8JYX3 8.23 2,407 19,809.61
0.14 ILMN ILLUMINA INC 2613990 118.29 153 18,098.37
0.11 WBA WALGREENS BOOTS BTN1Y44 17.63 827 14,580.01
0.09 SIRI SIRIUS XM HOLDINGS INC BGLDK10 3.10 3,672 11,383.20
0.02 NDX US 04/19/24 P16975 455.00 6 2,730.00
0.01 NQX US 04/19/24 P3400 202.50 7 1,417.50
0.00 OTHER PAYABLE & RECEIVABLES 1.00 -198 -197.50
-0.03 NDX US 04/19/24 C17875 735.00 -6 -4,410.00
-0.04 NQX US 04/19/24 C3600 820.00 -7 -5,740.00
Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Characteristics As of 04/16/24

Return on Equity 23.50%
Weighted Avg. Market Cap 1,046,000 M
2023 2024
Price-to-earnings 30.95 26.63
Price-to-book value 6.89 5.73

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 03/31/24

Versus Beta
S&P 500 0.38
NASDAQ-100 0.33
MSCI EAFE 0.33
MSCI Emg. Mkts 0.26
Standard Deviation 8.80%

Source: new windowAltaVista Research, LLC

ETF Research

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.