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 06/02/23

Inception Date 08/25/21
Total Expense Ratio 0.60%
Net Assets $9.87 million
NAV $18.28
Fact Sheet

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 06/01/23

Ticker QRMI
Bloomberg Index Ticker NQRMII
CUSIP 37960A503
ISIN US37960A5039
Primary Exchange Nasdaq
Shares Outstanding 540,000
Number of Holdings 105
30-Day Median Bid-Ask Spread 0.38%

Distributions As of 06/02/23

30-Day SEC Yield 0.23%
12-Month Trailing Yield 12.95%
Distribution Yield 12.15%
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 06/02/23

NAV $18.28 Daily Change $0.02 0.11%
Market Price $18.31 Daily Change $0.05 0.27%

Performance History

As of recent
(03/31/23)
As of recent
(03/31/23)
Fund NAV Market Price Index
1 Year -7.19% -7.30% -6.06%
Since Inception -9.05% -8.99% -9.25%
1 Year 1.65% 1.76% 1.83%
Since Inception -6.74% -6.63% -6.92%
Year-to-Date 7.36% 7.67% 7.25%
1 Month 2.95% 3.07% 2.88%
3 Months 7.36% 7.67% 7.25%
Since Inception -14.06% -13.97% -14.37%
Year-to-Date 10.45% 10.88% 10.35%
1 Month 1.51% 1.57% 1.47%
3 Months 5.92% 6.15% 5.86%
Since Inception -11.59% -11.40% -11.89%

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 05/03/23

Option Positions Notional Exposure Strike Moneyness Expiration Date Calendar Days to Expiry
Short NASDAQ Call Option -$7,904,433 12950 101.70% 05/19/2023 16
Long NASDAQ Put Option $7,904,433 12300 93.40% 05/19/2023 16
Short NASDAQ 100 Reduced Value Call Option -$1,580,887 2590 101.70% 05/19/2023 16
Long NASDAQ 100 Reduced Value Put Option $1,580,887 2460 93.40% 05/19/2023 16

Top Holdings As of 06/02/23

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
13.97 MSFT MICROSOFT CORP 2588173 335.40 4,112 1,379,164.80
12.94 AAPL APPLE INC 2046251 180.95 7,060 1,277,507.00
7.15 AMZN AMAZON.COM INC 2000019 124.25 5,683 706,112.75
7.08 NVDA NVIDIA CORP 2379504 393.27 1,777 698,840.79
4.42 META META PLATFORMS INC B7TL820 272.61 1,602 436,721.22
4.25 GOOGL ALPHABET INC-CL A BYVY8G0 124.67 3,366 419,639.22
4.20 GOOG ALPHABET INC-CL C BYY88Y7 125.23 3,309 414,386.07
3.81 TSLA TESLA INC B616C79 213.97 1,756 375,731.32
2.48 AVGO BROADCOM INC BDZ78H9 812.00 301 244,412.00
1.85 PEP PEPSICO INC 2681511 184.06 990 182,219.40
1.66 COST COSTCO WHOLESALE CORP 2701271 512.59 319 163,516.21
1.49 CSCO CISCO SYSTEMS INC 2198163 50.02 2,946 147,358.92
1.45 ADBE ADOBE INC 2008154 436.37 329 143,565.73
1.38 AMD ADVANCED MICRO DEVICES 2007849 117.86 1,157 136,364.02
1.30 NFLX NETFLIX INC 2857817 400.47 320 128,150.40
1.20 CMCSA COMCAST CORP-CLASS A 2044545 39.19 3,024 118,510.56
1.16 TMUS T-MOBILE US INC B94Q9V0 131.19 876 114,922.44
1.16 TXN TEXAS INSTRUMENTS INC 2885409 175.23 651 114,074.73
0.97 HON HONEYWELL INTL 2020459 198.85 480 95,448.00
0.94 INTC INTEL CORP 2463247 31.31 2,973 93,084.63
0.94 QCOM QUALCOMM INC 2714923 115.62 801 92,611.62
0.88 INTU INTUIT INC 2459020 430.49 202 86,958.98
0.85 AMGN AMGEN INC 2023607 218.07 383 83,520.81
0.83 SBUX STARBUCKS CORP 2842255 99.50 825 82,087.50
0.83 AMAT APPLIED MATERIALS INC 2046552 134.63 607 81,720.41
0.80 ISRG INTUITIVE SURGICAL INC 2871301 312.18 252 78,669.36
0.75 BKNG BOOKING HOLDINGS INC BDRXDB4 2,625.65 28 73,518.20
0.74 MDLZ MONDELEZ INTER-A B8CKK03 74.27 979 72,710.33
0.71 GILD GILEAD SCIENCES INC 2369174 77.89 897 69,867.33
0.66 ADI ANALOG DEVICES INC 2032067 179.80 364 65,447.20
0.66 ADP AUTOMATIC DATA PROCESSING 2065308 216.52 299 64,739.48
0.62 VRTX VERTEX PHARM 2931034 333.78 184 61,415.52
0.60 LRCX LAM RESEARCH CORP 2502247 613.67 97 59,525.99
0.57 REGN REGENERON PHARMACEUTICALS 2730190 739.95 76 56,236.20
0.55 MU MICRON TECHNOLOGY INC 2588184 69.17 784 54,229.28
0.53 PYPL PAYPAL HOLDINGS INC BYW36M8 63.96 812 51,935.52
0.52 FISV FISERV INC 2342034 113.90 450 51,255.00
0.50 SNPS SYNOPSYS INC 2867719 449.36 109 48,980.24
0.48 CSX CSX CORP 2160753 31.92 1,479 47,209.68
0.48 PANW PALO ALTO NETWORKS INC B87ZMX0 217.24 217 47,141.08
0.48 MELI MERCADOLIBRE INC B23X1H3 1,270.67 37 47,014.79
0.46 KLAC KLA CORP 2480138 458.06 100 45,806.00
0.46 ASML ASML HOLDING-NY B908F01 724.65 63 45,652.95
0.46 CDNS CADENCE DESIGN SYS INC 2302232 229.69 197 45,248.93
0.46 ATVI ACTIVISION BLIZZARD INC 2575818 80.50 562 45,241.00
0.45 MNST MONSTER BEVERAGE CORP BZ07BW4 59.48 749 44,550.52
0.41 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 895.34 45 40,290.30
0.40 MAR MARRIOTT INTL-A 2210614 177.22 221 39,165.62
0.39 FTNT FORTINET INC B5B2106 68.13 561 38,220.93
0.37 MRVL MARVELL TECHNOLOGY INC BNKJSM5 60.18 610 36,709.80
0.37 MRNA MODERNA INC BGSXTS3 130.51 277 36,151.27
0.36 CHTR CHARTER COMMUN-A BZ6VT82 329.32 109 35,895.88
0.35 CTAS CINTAS CORP 2197137 481.56 72 34,672.32
0.35 ABNB AIRBNB INC-CLASS A BMGYYH4 118.06 292 34,473.52
0.34 DXCM DEXCOM INC B0796X4 122.57 277 33,951.89
0.34 NXPI NXP SEMICONDUCTORS NV B505PN7 181.60 185 33,596.00
0.34 KHC KRAFT HEINZ CO/THE BYRY499 38.11 877 33,422.47
0.33 LULU LULULEMON ATHLETICA INC B23FN39 365.44 88 32,158.72
0.32 KDP KEURIG DR PEPPER INC BD3W133 31.45 1,008 31,701.60
0.32 ADSK AUTODESK INC 2065159 204.24 155 31,657.20
0.32 WDAY WORKDAY INC-CLASS A B8K6ZD1 213.50 147 31,384.50
0.32 AZN ASTRAZENECA PLC-SPONS ADR 2989044 72.59 432 31,358.88
0.32 BIIB BIOGEN INC 2455965 300.20 104 31,220.80
0.31 AEP AMERICAN ELECTRIC POWER 2026242 83.45 369 30,793.05
0.31 MCHP MICROCHIP TECHNOLOGY INC 2592174 77.20 392 30,262.40
0.30 CPRT COPART INC 2208073 88.03 341 30,018.23
0.30 PDD PDD HOLDINGS INC BYVW0F7 69.54 426 29,624.04
0.29 PAYX PAYCHEX INC 2674458 110.25 259 28,554.75
0.29 EXC EXELON CORP 2670519 39.69 711 28,219.59
0.28 IDXX IDEXX LABORATORIES INC 2459202 470.83 59 27,778.97
0.28 PCAR PACCAR INC 2665861 73.30 374 27,414.20
0.26 SGEN SEAGEN INC BLPK4D2 195.38 133 25,985.54
0.26 ROST ROSS STORES INC 2746711 102.97 247 25,432.36
0.26 EA ELECTRONIC ARTS INC 2310194 127.67 197 25,150.99
0.25 ODFL OLD DOMINION FREIGHT LINE 2656423 319.67 78 24,934.26
0.25 XEL XCEL ENERGY INC 2614807 63.14 393 24,814.02
0.25 VRSK VERISK ANALYTICS INC B4P9W92 221.37 111 24,572.07
0.24 CSGP COSTAR GROUP INC 2262864 81.88 290 23,745.20
0.24 CRWD CROWDSTRIKE HO-A BJJP138 151.32 156 23,605.92
0.24 ILMN ILLUMINA INC 2613990 207.31 113 23,426.03
0.24 CTSH COGNIZANT TECH-A 2257019 63.76 365 23,272.40
0.23 GFS GLOBALFOUNDRIES INC BMW7F63 59.17 389 23,017.13
0.23 FAST FASTENAL CO 2332262 55.37 409 22,646.33
0.22 BKR BAKER HUGHES CO BDHLTQ5 29.58 722 21,356.76
0.21 DLTR DOLLAR TREE INC 2272476 133.61 158 21,110.38
0.21 DDOG DATADOG INC - CLASS A BKT9Y49 98.77 210 20,741.70
0.21 WBD WARNER BROS DISCOVERY INC BM8JYX3 11.75 1,737 20,409.75
0.21 CEG CONSTELLATION ENERGY BMH4FS1 87.54 233 20,396.82
0.20 ANSS ANSYS INC 2045623 325.00 62 20,150.00
0.20 TEAM ATLASSIAN CORP -CLASS A BQ1PC76 183.90 107 19,677.30
0.19 WBA WALGREENS BOOTS BTN1Y44 31.19 615 19,181.85
0.18 ENPH ENPHASE ENERGY INC B65SQW4 181.86 98 17,822.28
0.17 FANG DIAMONDBACK ENERGY INC B7Y8YR3 131.35 130 17,075.50
0.17 EBAY EBAY INC 2293819 44.39 383 17,001.37
0.17 ALGN ALIGN TECHNOLOGY INC 2679204 302.00 55 16,610.00
0.15 ZS ZSCALER INC BZ00V34 142.39 103 14,666.17
0.12 ZM ZOOM VIDEO COM-A BGSP7M9 67.09 174 11,673.66
0.12 JD JD.COM INC-ADR BMM27D9 35.43 327 11,585.61
0.10 SIRI SIRIUS XM HOLDINGS INC BGLDK10 3.58 2,761 9,884.38
0.10 RIVN RIVIAN AUTOMOTIVE INC-A BL98841 14.48 651 9,426.48
0.09 LCID LUCID GROUP INC BP0TR77 6.60 1,297 8,560.20
0.08 CASH 1.00 7,531 7,530.87
0.04 NDX US 06/16/23 P13125 770.00 5 3,850.00
0.02 NQX US 06/16/23 P2630 167.50 10 1,675.00
-1.54 NQX US 06/16/23 C2770 15,160.00 -10 -151,600.00
-3.95 NDX US 06/16/23 C13825 77,975.00 -5 -389,875.00
Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Characteristics As of 06/01/23

Return on Equity 24.10%
Weighted Avg. Market Cap 1,133,630 M
2022 2023
Price-to-earnings 30.03 27.79
Price-to-book value 7.32 6.16

Source: AltaVista Research, LLC

ETF Risk Stats As of 05/31/23

Versus Beta
S&P 500 0.39
NASDAQ-100 0.34
MSCI EAFE 0.32
MSCI Emg. Mkts 0.24
Standard Deviation 9.70%

Source: AltaVista 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.

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