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 06/13/24

Inception Date 08/25/21
Total Expense Ratio 0.61%
Net Assets $14.46 million
NAV $17.01
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 06/13/24

Ticker QRMI
Bloomberg Index Ticker NQRMII
CUSIP 37960A503
ISIN US37960A5039
Primary Exchange Nasdaq
Shares Outstanding 850,000
Number of Holdings 105
30-Day Median Bid-Ask Spread 0.24%

Distributions As of 06/13/24

30-Day SEC Yield 0.30%
12-Month Trailing Yield 12.92%
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 06/13/24

NAV $17.01 Daily Change -$0.01 -0.06%
Market Price $17.07 Daily Change $0.02 0.12%

Performance History

As of recent
(03/31/24)
As of recent
(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 4.18% 4.13% 5.05%
Since Inception -2.93% -2.87% -2.76%
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 3.24% 3.36% 3.83%
1 Month 1.31% 1.25% 1.28%
3 Months 0.01% -0.05% 0.26%
Since Inception -7.89% -7.74% -7.44%

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 06/13/24

Nasdaq 100 Price 19,576.90 Nasdaq 100 Mini Price 3,915.38

Upside Cap Details

Option Positions Notional Exposure Strike Upside Before Cap Expiration Date Calendar Days to Expiry
Short NASDAQ 100 Reduced Value Call Option -$3,523,846 3700 0.00% 06/21/2024 8
Short NASDAQ Call Option -$11,746,154 18575 0.00% 06/21/2024 8

Downside Floor Details

Option Positions Notional Exposure Strike Downside Before Floor Expiration Date Calendar Days to Expiry
Long NASDAQ 100 Reduced Value Put Option $3,523,846 3500 -10.61% 06/21/2024 8
Long NASDAQ Put Option $11,746,154 17650 -9.84% 06/21/2024 8

Top Holdings As of 06/13/24

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
9.12 AAPL APPLE INC 2046251 214.24 6,224 1,333,429.76
9.05 MSFT MICROSOFT CORP 2588173 441.58 2,998 1,323,856.84
8.95 NVDA NVIDIA CORP 2379504 129.61 10,100 1,309,061.00
5.58 AVGO BROADCOM INC BDZ78H9 1,678.99 486 815,989.14
5.27 AMZN AMAZON.COM INC 2000019 183.83 4,191 770,431.53
4.85 META META PLATFORMS INC B7TL820 503.60 1,408 709,068.80
2.85 GOOGL ALPHABET INC-CL A BYVY8G0 175.16 2,379 416,705.64
2.77 GOOG ALPHABET INC-CL C BYY88Y7 176.74 2,289 404,557.86
2.66 COST COSTCO WHOLESALE CORP 2701271 845.96 459 388,295.64
2.43 TSLA TESLA INC B616C79 182.47 1,946 355,086.62
2.01 NFLX NETFLIX INC 2857817 653.26 449 293,313.74
1.84 AMD ADVANCED MICRO DEVICES 2007849 159.90 1,685 269,431.50
1.74 QCOM QUALCOMM INC 2714923 217.81 1,165 253,748.65
1.60 PEP PEPSICO INC 2681511 163.33 1,434 234,215.22
1.51 LIN LINDE PLC BNZHB81 439.80 503 221,219.40
1.48 TMUS T-MOBILE US INC B94Q9V0 175.11 1,232 215,735.52
1.47 ADBE ADOBE INC 2008154 458.74 467 214,231.58
1.40 AMAT APPLIED MATERIALS INC 2046552 237.55 864 205,243.20
1.31 CSCO CISCO SYSTEMS INC 2198163 45.52 4,214 191,821.28
1.27 TXN TEXAS INSTRUMENTS INC 2885409 196.28 946 185,680.88
1.17 INTU INTUIT INC 2459020 594.62 288 171,250.56
1.13 AMGN AMGEN INC 2023607 298.50 554 165,369.00
1.12 MU MICRON TECHNOLOGY INC 2588184 143.14 1,145 163,895.30
1.06 CMCSA COMCAST CORP-CLASS A 2044545 37.58 4,123 154,942.34
1.05 ISRG INTUITIVE SURGICAL INC 2871301 422.90 364 153,935.60
0.99 LRCX LAM RESEARCH CORP 2502247 1,038.50 140 145,390.00
0.97 HON HONEYWELL INTL 2020459 208.63 679 141,659.77
0.92 INTC INTEL CORP 2463247 30.46 4,397 133,932.62
0.88 VRTX VERTEX PHARM 2931034 479.03 268 128,380.04
0.84 BKNG BOOKING HOLDINGS INC BDRXDB4 3,856.14 32 123,396.48
0.83 ADI ANALOG DEVICES INC 2032067 234.03 516 120,759.48
0.82 KLAC KLA CORP 2480138 830.03 144 119,524.32
0.77 REGN REGENERON PHARMACEUTICALS 2730190 1,026.55 110 112,920.50
0.74 PANW PALO ALTO NETWORKS INC B87ZMX0 319.66 337 107,725.42
0.72 PDD PDD HOLDINGS INC BYVW0F7 151.07 694 104,842.58
0.71 ADP AUTOMATIC DATA PROCESSING 2065308 242.87 427 103,705.49
0.65 SBUX STARBUCKS CORP 2842255 80.24 1,179 94,602.96
0.64 SNPS SYNOPSYS INC 2867719 586.54 160 93,846.40
0.64 ASML ASML HOLDING-NY B908F01 1,052.71 89 93,691.19
0.63 MDLZ MONDELEZ INTER-A B8CKK03 66.10 1,397 92,341.70
0.63 CRWD CROWDSTRIKE HO-A BJJP138 382.81 239 91,491.59
0.61 MELI MERCADOLIBRE INC B23X1H3 1,580.53 56 88,509.68
0.59 CDNS CADENCE DESIGN SYS INC 2302232 307.54 281 86,418.74
0.56 GILD GILEAD SCIENCES INC 2369174 62.79 1,294 81,250.26
0.50 MAR MARRIOTT INTL-A 2210614 240.47 305 73,343.35
0.50 NXPI NXP SEMICONDUCTORS NV B505PN7 275.47 266 73,275.02
0.50 CEG CONSTELLATION ENERGY BMH4FS1 219.93 330 72,576.90
0.49 CTAS CINTAS CORP 2197137 691.96 103 71,271.88
0.47 PYPL PAYPAL HOLDINGS INC BYW36M8 61.54 1,114 68,555.56
0.45 CSX CSX CORP 2160753 32.53 2,037 66,263.61
0.45 ABNB AIRBNB INC-CLASS A BMGYYH4 146.10 453 66,183.30
0.45 MRVL MARVELL TECHNOLOGY INC BNKJSM5 72.87 894 65,145.78
0.44 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 995.78 64 63,729.92
0.41 ROP ROPER TECHNOLOGIES INC 2749602 547.17 109 59,641.53
0.40 MRNA MODERNA INC BGSXTS3 145.23 400 58,092.00
0.40 PCAR PACCAR INC 2665861 107.10 541 57,941.10
0.36 CPRT COPART INC 2208073 53.06 1,001 53,113.06
0.36 MNST MONSTER BEVERAGE CORP BZ07BW4 48.72 1,084 52,812.48
0.36 MCHP MICROCHIP TECHNOLOGY INC 2592174 92.81 564 52,344.84
0.35 ROST ROSS STORES INC 2746711 145.65 349 50,831.85
0.34 ADSK AUTODESK INC 2065159 223.10 225 50,197.50
0.34 KDP KEURIG DR PEPPER INC BD3W133 34.06 1,441 49,080.46
0.33 AZN ASTRAZENECA PLC-SPONS ADR 2989044 79.53 604 48,036.12
0.33 AEP AMERICAN ELECTRIC POWER 2026242 87.90 543 47,729.70
0.33 FTNT FORTINET INC B5B2106 60.23 790 47,581.70
0.31 DXCM DEXCOM INC B0796X4 113.81 403 45,865.43
0.31 WDAY WORKDAY INC-CLASS A B8K6ZD1 207.08 221 45,764.68
0.31 PAYX PAYCHEX INC 2674458 122.67 372 45,633.24
0.31 DASH DOORDASH INC - A BN13P03 113.77 394 44,825.38
0.30 TTD TRADE DESK INC-A BD8FDD1 95.62 458 43,793.96
0.30 IDXX IDEXX LABORATORIES INC 2459202 506.12 86 43,526.32
0.29 CHTR CHARTER COMMUN-A BZ6VT82 274.17 153 41,948.01
0.28 KHC KRAFT HEINZ CO/THE BYRY499 32.54 1,261 41,032.94
0.27 ODFL OLD DOMINION FREIGHT LINE 2656423 172.91 229 39,596.39
0.27 VRSK VERISK ANALYTICS INC B4P9W92 261.85 151 39,539.35
0.26 FAST FASTENAL CO 2332262 64.29 594 38,188.26
0.26 DDOG DATADOG INC - CLASS A BKT9Y49 119.54 319 38,133.26
0.26 LULU LULULEMON ATHLETICA INC B23FN39 307.49 122 37,513.78
0.26 EA ELECTRONIC ARTS INC 2310194 135.87 275 37,364.25
0.25 EXC EXELON CORP 2670519 35.41 1,035 36,649.35
0.25 GEHC GE HEALTHCARE TECHNOLOGY BL6JPG8 76.99 476 36,647.24
0.24 BIIB BIOGEN INC 2455965 233.84 152 35,543.68
0.24 CCEP COCA-COLA EUROPA BYQQ3P5 74.42 477 35,498.34
0.24 FANG DIAMONDBACK ENERGY INC B7Y8YR3 190.35 184 35,024.40
0.23 CTSH COGNIZANT TECH-A 2257019 64.61 516 33,338.76
0.23 ON ON SEMICONDUCTOR 2583576 75.04 441 33,092.64
0.22 BKR BAKER HUGHES CO BDHLTQ5 31.63 1,036 32,768.68
0.22 CDW CDW CORP/DE BBM5MD6 225.10 142 31,964.20
0.22 CSGP COSTAR GROUP INC 2262864 75.20 424 31,884.80
0.21 XEL XCEL ENERGY INC 2614807 53.79 577 31,038.27
0.20 ANSS ANSYS INC 2045623 325.01 90 29,250.90
0.19 ZS ZSCALER INC BZ00V34 181.05 155 28,062.75
0.19 TTWO TAKE-TWO INTERAC 2122117 157.72 176 27,758.72
0.19 GFS GLOBALFOUNDRIES INC BMW7F63 48.61 570 27,707.70
0.18 TEAM ATLASSIAN CORP-CL A BQ1PC76 156.02 164 25,587.28
0.17 DLTR DOLLAR TREE INC 2272476 106.53 228 24,288.84
0.13 CASH 1.00 18,815 18,815.13
0.13 WBD WARNER BROS DISCOVERY INC BM8JYX3 7.29 2,521 18,378.09
0.12 ILMN ILLUMINA INC 2613990 109.22 164 17,912.08
0.11 MDB MONGODB INC BF2FJ99 218.18 76 16,581.68
0.10 WBA WALGREENS BOOTS BTN1Y44 15.45 929 14,353.05
0.07 SIRI SIRIUS XM HOLDINGS INC BGLDK10 2.54 4,148 10,535.92
0.06 NQX US 06/21/24 P3500 935.60 9 8,420.40
0.05 OTHER PAYABLE & RECEIVABLES 1.00 6,742 6,742.11
0.01 NDX US 06/21/24 P17650 267.50 6 1,605.00
-1.39 NQX US 06/21/24 C3700 22,600.00 -9 -203,400.00
-4.34 NDX US 06/21/24 C18575 105,705.00 -6 -634,230.00
Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Characteristics As of 06/13/24

Return on Equity 23.50%
Weighted Avg. Market Cap 1,183,220 M
2023 2024
Price-to-earnings 32.69 28.09
Price-to-book value 7.27 6.05

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 05/31/24

Versus Beta
S&P 500 0.38
NASDAQ-100 0.34
MSCI EAFE 0.33
MSCI Emg. Mkts 0.26
Standard Deviation 8.70%

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.