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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 makes distributions on a monthly basis.

Key Information As of 09/13/24

Inception Date 08/25/21
Total Expense Ratio 0.61%
Net Assets $16.45 million
NAV $16.96
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 09/12/24

Ticker QRMI
Bloomberg Index Ticker NQRMII
CUSIP 37960A503
ISIN US37960A5039
Primary Exchange Nasdaq
Shares Outstanding 970,000
Number of Holdings 105
30-Day Median Bid-Ask Spread 0.24%

Distributions As of 09/13/24

30-Day SEC Yield 0.22%
12-Month Trailing Yield 12.75%
Distribution Yield 12.17%
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 09/13/24

NAV $16.96 Daily Change $0.05 0.30%
Market Price $16.98 Daily Change $0.04 0.24%

Performance History

As of recent
(06/30/24)
As of recent
(06/30/24)
Fund NAV Market Price Index
1 Year 5.18% 4.99% 6.38%
Since Inception -2.38% -2.42% -2.13%
1 Year 8.29% 7.90% 9.44%
3 Years -1.62% -1.78% -1.31%
Since Inception -1.54% -1.62% -1.26%
Year-to-Date 4.66% 4.46% 5.51%
1 Month 1.37% 1.07% 1.61%
3 Months -0.14% -0.50% 0.24%
Since Inception -6.63% -6.75% -5.95%
Year-to-Date 6.96% 6.64% 7.97%
1 Month 1.91% 1.85% 1.95%
3 Months 3.60% 3.17% 3.98%
Since Inception -4.57% -4.81% -3.76%

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 09/12/24

Nasdaq 100 Price 19,423.07 Nasdaq 100 Mini Price 194.23

Upside Cap Details

Option Positions Notional Exposure Strike Upside Before Cap Expiration Date Calendar Days to Expiry
Short NASDAQ Call Option -$15,538,455 19425 0.01% 09/20/2024 8
Short NASDAQ 100 Micro Call Option -$1,010,000 194 0.00% 09/20/2024 8

Downside Floor Details

Option Positions Notional Exposure Strike Downside Before Floor Expiration Date Calendar Days to Expiry
Long NASDAQ 100 Micro Put Option $1,010,000 184 -5.27% 09/20/2024 8
Long NASDAQ Put Option $15,538,455 18450 -5.01% 09/20/2024 8

Top Holdings As of 09/13/24

Full Holdings (.csv)
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
9.04 AAPL APPLE INC 2046251 222.50 6,685 1,487,412.50
8.48 MSFT MICROSOFT CORP 2588173 430.59 3,240 1,395,111.60
7.76 NVDA NVIDIA CORP 2379504 119.10 10,724 1,277,228.40
5.32 AVGO BROADCOM INC BDZ78H9 167.69 5,218 875,006.42
5.14 AMZN AMAZON.COM INC 2000019 186.49 4,537 846,105.13
4.84 META META PLATFORMS INC B7TL820 524.12 1,520 796,662.40
2.95 TSLA TESLA INC B616C79 230.29 2,104 484,530.16
2.78 COST COSTCO WHOLESALE CORP 2701271 916.00 499 457,084.00
2.45 GOOGL ALPHABET INC-CL A BYVY8G0 157.46 2,561 403,255.06
2.36 GOOG ALPHABET INC-CL C BYY88Y7 158.37 2,449 387,848.13
2.06 NFLX NETFLIX INC 2857817 697.06 485 338,074.10
1.69 AMD ADVANCED MICRO DEVICES 2007849 152.31 1,820 277,204.20
1.67 PEP PEPSICO INC 2681511 177.36 1,548 274,553.28
1.65 ADBE ADOBE INC 2008154 536.87 504 270,582.48
1.63 TMUS T-MOBILE US INC B94Q9V0 202.83 1,320 267,735.60
1.54 LIN LINDE PLC BNZHB81 468.81 541 253,626.21
1.37 CSCO CISCO SYSTEMS INC 2198163 49.80 4,536 225,892.80
1.28 QCOM QUALCOMM INC 2714923 167.73 1,257 210,836.61
1.26 INTU INTUIT INC 2459020 655.31 315 206,422.65
1.25 TXN TEXAS INSTRUMENTS INC 2885409 199.93 1,025 204,928.25
1.22 AMGN AMGEN INC 2023607 332.45 604 200,799.80
1.19 ISRG INTUITIVE SURGICAL INC 2871301 489.86 399 195,454.14
1.07 AMAT APPLIED MATERIALS INC 2046552 188.47 932 175,654.04
1.06 CMCSA COMCAST CORP-CLASS A 2044545 39.55 4,407 174,296.85
0.91 HON HONEYWELL INTL 2020459 204.15 733 149,641.95
0.91 BKNG BOOKING HOLDINGS INC BDRXDB4 3,932.59 38 149,438.42
0.86 VRTX VERTEX PHARM 2931034 485.37 291 141,242.67
0.86 REGN REGENERON PHARMACEUTICALS 2730190 1,153.35 122 140,708.70
0.78 ADP AUTOMATIC DATA PROCESSING 2065308 277.51 461 127,932.11
0.77 PANW PALO ALTO NETWORKS INC B87ZMX0 346.90 365 126,618.50
0.77 ADI ANALOG DEVICES INC 2032067 225.42 559 126,009.78
0.76 SBUX STARBUCKS CORP 2842255 98.57 1,275 125,676.75
0.74 MELI MERCADOLIBRE INC B23X1H3 2,122.37 57 120,975.09
0.71 GILD GILEAD SCIENCES INC 2369174 82.81 1,403 116,182.43
0.69 KLAC KLA CORP 2480138 751.50 152 114,228.00
0.69 MU MICRON TECHNOLOGY INC 2588184 91.22 1,247 113,751.34
0.69 MDLZ MONDELEZ INTER-A B8CKK03 75.26 1,510 113,642.60
0.69 LRCX LAM RESEARCH CORP 2502247 769.72 147 113,148.84
0.58 CTAS CINTAS CORP 2197137 207.77 456 94,743.12
0.57 INTC INTEL CORP 2463247 19.66 4,793 94,230.38
0.51 SNPS SYNOPSYS INC 2867719 490.07 172 84,292.04
0.51 ASML ASML HOLDING-NY B908F01 816.36 102 83,268.72
0.50 PYPL PAYPAL HOLDINGS INC BYW36M8 70.10 1,178 82,577.80
0.50 CDNS CADENCE DESIGN SYS INC 2302232 268.72 306 82,228.32
0.45 MAR MARRIOTT INTL-A 2210614 231.74 322 74,620.28
0.45 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 1,125.48 66 74,281.68
0.45 CSX CSX CORP 2160753 33.52 2,201 73,777.52
0.44 MRVL MARVELL TECHNOLOGY INC BNKJSM5 74.48 975 72,618.00
0.43 PDD PDD HOLDINGS INC BYVW0F7 94.99 752 71,432.48
0.42 CEG CONSTELLATION ENERGY BMH4FS1 195.98 353 69,180.94
0.41 CRWD CROWDSTRIKE HO-A BJJP138 259.13 259 67,114.67
0.41 ROP ROPER TECHNOLOGIES INC 2749602 551.84 121 66,772.64
0.40 NXPI NXP SEMICONDUCTORS NV B505PN7 229.93 288 66,219.84
0.39 FTNT FORTINET INC B5B2106 75.01 860 64,508.60
0.39 ADSK AUTODESK INC 2065159 263.96 243 64,142.28
0.38 AEP AMERICAN ELECTRIC POWER 2026242 104.17 594 61,876.98
0.36 WDAY WORKDAY INC-CLASS A B8K6ZD1 250.05 239 59,761.95
0.36 MNST MONSTER BEVERAGE CORP BZ07BW4 50.83 1,173 59,623.59
0.36 ABNB AIRBNB INC-CLASS A BMGYYH4 117.75 497 58,521.75
0.35 ROST ROSS STORES INC 2746711 155.25 373 57,908.25
0.34 KDP KEURIG DR PEPPER INC BD3W133 37.61 1,504 56,565.44
0.34 DASH DOORDASH INC - A BN13P03 131.35 430 56,480.50
0.34 PCAR PACCAR INC 2665861 95.12 590 56,120.80
0.34 CHTR CHARTER COMMUN-A BZ6VT82 340.17 162 55,107.54
0.33 PAYX PAYCHEX INC 2674458 135.09 405 54,711.45
0.33 CPRT COPART INC 2208073 50.23 1,084 54,449.32
0.32 TTD TRADE DESK INC-A BD8FDD1 106.06 501 53,136.06
0.31 AZN ASTRAZENECA PLC-SPONS ADR 2989044 78.27 647 50,640.69
0.29 KHC KRAFT HEINZ CO/THE BYRY499 35.59 1,344 47,832.96
0.29 ODFL OLD DOMINION FREIGHT LINE 2656423 192.61 245 47,189.45
0.29 MCHP MICROCHIP TECHNOLOGY INC 2592174 77.62 605 46,960.10
0.28 IDXX IDEXX LABORATORIES INC 2459202 500.55 92 46,050.60
0.28 EXC EXELON CORP 2670519 40.23 1,126 45,298.98
0.27 GEHC GE HEALTHCARE TECHNOLOGY BL6JPG8 86.91 514 44,671.74
0.27 FAST FASTENAL CO 2332262 69.82 637 44,475.34
0.27 EA ELECTRONIC ARTS INC 2310194 145.83 300 43,749.00
0.26 VRSK VERISK ANALYTICS INC B4P9W92 268.79 161 43,275.19
0.26 CTSH COGNIZANT TECH-A 2257019 77.21 552 42,619.92
0.26 CCEP COCA-COLA EUROPA BYQQ3P5 81.54 517 42,156.18
0.24 XEL XCEL ENERGY INC 2614807 63.84 626 39,963.84
0.23 DDOG DATADOG INC - CLASS A BKT9Y49 109.26 345 37,694.70
0.23 BKR BAKER HUGHES CO BDHLTQ5 33.40 1,124 37,541.60
0.22 LULU LULULEMON ATHLETICA INC B23FN39 266.76 136 36,279.36
0.22 CSGP COSTAR GROUP INC 2262864 78.87 454 35,806.98
0.21 ON ON SEMICONDUCTOR 2583576 71.72 476 34,138.72
0.21 FANG DIAMONDBACK ENERGY INC B7Y8YR3 172.42 197 33,966.74
0.20 CDW CDW CORP/DE BBM5MD6 220.15 152 33,462.80
0.20 BIIB BIOGEN INC 2455965 195.63 164 32,083.32
0.19 DXCM DEXCOM INC B0796X4 69.51 444 30,862.44
0.19 SMCI SUPER MICRO COMPUTER INC B1VQR35 457.16 67 30,629.72
0.19 ANSS ANSYS INC 2045623 318.51 96 30,576.96
0.18 MRNA MODERNA INC BGSXTS3 68.28 432 29,496.96
0.18 TEAM ATLASSIAN CORP-CL A BQ1PC76 163.74 177 28,981.98
0.18 TTWO TAKE-TWO INTERAC 2122117 152.18 189 28,762.02
0.17 ZS ZSCALER INC BZ00V34 170.06 168 28,570.08
0.15 GFS GLOBALFOUNDRIES INC BMW7F63 39.75 606 24,088.50
0.15 MDB MONGODB INC BF2FJ99 290.09 82 23,787.38
0.14 WBD WARNER BROS DISCOVERY INC BM8JYX3 8.49 2,692 22,855.08
0.14 ILMN ILLUMINA INC 2613990 129.18 176 22,735.68
0.11 ARM ARM HOLDINGS PLC-ADR BNSP5P7 147.37 127 18,715.99
0.10 DLTR DOLLAR TREE INC 2272476 69.70 244 17,006.80
0.09 CASH 1.00 14,763 14,762.82
0.07 NDX US 09/20/24 P18450 1,390.00 8 11,120.00
0.04 OTHER PAYABLE & RECEIVABLES 1.00 6,554 6,553.72
0.01 XND US 09/20/24 P184 22.16 52 1,152.32
-0.11 XND US 09/20/24 C194 334.00 -52 -17,368.00
-1.23 NDX US 09/20/24 C19425 25,265.00 -8 -202,120.00
Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Characteristics As of 09/12/24

Return on Equity 22.20%
Weighted Avg. Market Cap 1,047,620 M
2023 2024
Price-to-earnings 34.16 29.85
Price-to-book value 7.26 6.11

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 08/31/24

Versus Beta
S&P 500 0.38
NASDAQ-100 0.33
MSCI EAFE 0.32
MSCI Emg. Mkts 0.26
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.