Model Portfolios | News | Contact

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 12/05/23

Inception Date	08/25/21
Total Expense Ratio	0.60%
Net Assets	$11.34 million
NAV	$16.93
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 12/04/23

Ticker	QRMI
Bloomberg Index Ticker	NQRMII
CUSIP	37960A503
ISIN	US37960A5039
Primary Exchange	Nasdaq
Shares Outstanding	670,000
Number of Holdings	105
30-Day Median Bid-Ask Spread	0.30%

Distributions As of 12/05/23

30-Day SEC Yield	0.35%
12-Month Trailing Yield	13.43%
Distribution Yield	11.82%
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 12/05/23

NAV	$16.93	Daily Change	$0.03	0.18%
Market Price	$16.91	Daily Change	-$0.01	-0.06%

As of recent (09/30/23) As of recent (09/30/23)	Fund NAV	Market Price	Index
1 Year	5.40%	5.39%	5.67%
Since Inception	-6.82%	-6.82%	-6.89%
1 Year	5.25%	5.07%	5.55%
Since Inception	-5.82%	-5.85%	-5.89%
Year-to-Date	7.72%	7.90%	7.82%
1 Month	-2.15%	-2.26%	-2.11%
3 Months	-2.87%	-2.93%	-2.63%
Since Inception	-13.77%	-13.78%	-13.91%
Year-to-Date	9.06%	9.18%	9.15%
1 Month	2.71%	2.83%	2.64%
3 Months	-0.93%	-1.10%	-0.90%
Since Inception	-12.70%	-12.76%	-12.85%

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

15,839.70

Nasdaq 100 Mini Price

3,167.93

Upside Cap Details

Option Positions	Notional Exposure	Strike	Upside Before Cap	Expiration Date	Calendar Days to Expiry
Short NASDAQ Call Option	-$9,503,801	15800	0.00%	12/15/2023	11
Short NASDAQ 100 Reduced Value Call Option	-$1,900,760	3160	0.00%	12/15/2023	11

Downside Floor Details

Option Positions	Notional Exposure	Strike	Downside Before Floor	Expiration Date	Calendar Days to Expiry
Long NASDAQ Put Option	$9,503,801	15000	-5.30%	12/15/2023	11
Long NASDAQ 100 Reduced Value Put Option	$1,900,760	3000	-5.30%	12/15/2023	11

Net Assets (%)	Ticker	Name	SEDOL	Market Price ($)	Shares Held	Market Value ($)
11.48	AAPL	APPLE INC	2046251	193.42	6,730	1,301,716.60
10.51	MSFT	MICROSOFT CORP	2588173	372.52	3,198	1,191,318.96
5.75	AMZN	AMAZON.COM INC	2000019	146.88	4,441	652,294.08
4.37	NVDA	NVIDIA CORP	2379504	465.66	1,063	494,996.58
3.76	META	META PLATFORMS INC	B7TL820	318.29	1,341	426,826.89
3.07	AVGO	BROADCOM INC	BDZ78H9	913.12	381	347,898.72
2.95	GOOGL	ALPHABET INC-CL A	BYVY8G0	130.99	2,553	334,417.47
2.92	GOOG	ALPHABET INC-CL C	BYY88Y7	132.39	2,497	330,577.83
2.88	TSLA	TESLA INC	B616C79	238.72	1,366	326,091.52
2.24	ADBE	ADOBE INC	2008154	602.22	421	253,534.62
2.18	COST	COSTCO WHOLESALE CORP	2701271	605.35	409	247,588.15
1.88	PEP	PEPSICO INC	2681511	167.94	1,270	213,283.80
1.64	NFLX	NETFLIX INC	2857817	455.15	409	186,156.35
1.59	CSCO	CISCO SYSTEMS INC	2198163	47.93	3,760	180,216.80
1.56	AMD	ADVANCED MICRO DEVICES	2007849	118.38	1,491	176,504.58
1.48	TMUS	T-MOBILE US INC	B94Q9V0	154.00	1,086	167,244.00
1.43	INTC	INTEL CORP	2463247	41.92	3,863	161,936.96
1.39	CMCSA	COMCAST CORP-CLASS A	2044545	41.61	3,797	157,993.17
1.30	INTU	INTUIT INC	2459020	571.78	258	147,519.24
1.19	QCOM	QUALCOMM INC	2714923	130.75	1,030	134,672.50
1.18	AMGN	AMGEN INC	2023607	270.87	494	133,809.78
1.16	TXN	TEXAS INSTRUMENTS INC	2885409	157.25	837	131,618.25
1.07	HON	HONEYWELL INTL	2020459	196.95	613	120,730.35
0.99	AMAT	APPLIED MATERIALS INC	2046552	146.15	771	112,681.65
0.92	BKNG	BOOKING HOLDINGS INC	BDRXDB4	3,148.01	33	103,884.33
0.89	SBUX	STARBUCKS CORP	2842255	95.54	1,056	100,890.24
0.88	ISRG	INTUITIVE SURGICAL INC	2871301	309.52	324	100,284.48
0.80	GILD	GILEAD SCIENCES INC	2369174	79.02	1,149	90,793.98
0.78	MDLZ	MONDELEZ INTER-A	B8CKK03	70.68	1,254	88,632.72
0.78	ADP	AUTOMATIC DATA PROCESSING	2065308	231.56	380	87,992.80
0.76	PDD	PDD HOLDINGS INC	BYVW0F7	143.46	600	86,076.00
0.75	LRCX	LAM RESEARCH CORP	2502247	697.14	122	85,051.08
0.74	VRTX	VERTEX PHARM	2931034	354.15	237	83,933.55
0.73	ADI	ANALOG DEVICES INC	2032067	180.63	459	82,909.17
0.73	PANW	PALO ALTO NETWORKS INC	B87ZMX0	292.78	282	82,563.96
0.72	REGN	REGENERON PHARMACEUTICALS	2730190	820.90	99	81,269.10
0.66	SNPS	SYNOPSYS INC	2867719	535.71	140	74,999.40
0.66	MU	MICRON TECHNOLOGY INC	2588184	73.69	1,010	74,426.90
0.64	MELI	MERCADOLIBRE INC	B23X1H3	1,584.60	46	72,891.60
0.60	KLAC	KLA CORP	2480138	537.23	126	67,690.98
0.58	CDNS	CADENCE DESIGN SYS INC	2302232	262.18	250	65,545.00
0.54	CSX	CSX CORP	2160753	33.29	1,848	61,519.92
0.52	PYPL	PAYPAL HOLDINGS INC	BYW36M8	57.92	1,012	58,615.04
0.49	MAR	MARRIOTT INTL-A	2210614	202.71	275	55,745.25
0.49	ASML	ASML HOLDING-NY	B908F01	694.53	80	55,562.40
0.47	ORLY	O'REILLY AUTOMOTIVE INC	B65LWX6	977.97	55	53,788.35
0.46	ABNB	AIRBNB INC-CLASS A	BMGYYH4	133.71	393	52,548.03
0.46	MNST	MONSTER BEVERAGE CORP	BZ07BW4	54.26	965	52,360.90
0.46	CTAS	CINTAS CORP	2197137	551.08	94	51,801.52
0.45	WDAY	WORKDAY INC-CLASS A	B8K6ZD1	267.76	190	50,874.40
0.45	LULU	LULULEMON ATHLETICA INC	B23FN39	456.93	111	50,719.23
0.44	CHTR	CHARTER COMMUN-A	BZ6VT82	364.40	138	50,287.20
0.44	CRWD	CROWDSTRIKE HO-A	BJJP138	238.97	208	49,705.76
0.43	NXPI	NXP SEMICONDUCTORS NV	B505PN7	205.83	237	48,781.71
0.40	PCAR	PACCAR INC	2665861	93.87	482	45,245.34
0.38	ADSK	AUTODESK INC	2065159	220.45	197	43,428.65
0.38	CPRT	COPART INC	2208073	48.79	879	42,886.41
0.37	MCHP	MICROCHIP TECHNOLOGY INC	2592174	83.55	501	41,858.55
0.37	DXCM	DEXCOM INC	B0796X4	117.20	357	41,840.40
0.37	ROST	ROSS STORES INC	2746711	132.24	313	41,391.12
0.36	KDP	KEURIG DR PEPPER INC	BD3W133	32.03	1,287	41,222.61
0.36	PAYX	PAYCHEX INC	2674458	123.04	332	40,849.28
0.36	KHC	KRAFT HEINZ CO/THE	BYRY499	35.84	1,130	40,499.20
0.36	MRVL	MARVELL TECHNOLOGY INC	BNKJSM5	50.70	794	40,255.80
0.35	IDXX	IDEXX LABORATORIES INC	2459202	518.95	77	39,959.15
0.35	ODFL	OLD DOMINION FREIGHT LINE	2656423	394.79	100	39,479.00
0.34	FTNT	FORTINET INC	B5B2106	52.52	723	37,971.96
0.33	AEP	AMERICAN ELECTRIC POWER	2026242	79.31	474	37,592.94
0.33	SGEN	SEAGEN INC	BLPK4D2	215.83	172	37,122.76
0.31	EXC	EXELON CORP	2670519	38.50	916	35,266.00
0.31	CEG	CONSTELLATION ENERGY	BMH4FS1	118.31	296	35,019.76
0.30	AZN	ASTRAZENECA PLC-SPONS ADR	2989044	64.01	536	34,309.36
0.30	EA	ELECTRONIC ARTS INC	2310194	137.42	249	34,217.58
0.29	CTSH	COGNIZANT TECH-A	2257019	70.13	465	32,610.45
0.29	DDOG	DATADOG INC - CLASS A	BKT9Y49	118.07	275	32,469.25
0.28	FAST	FASTENAL CO	2332262	60.75	525	31,893.75
0.28	VRSK	VERISK ANALYTICS INC	B4P9W92	238.60	133	31,733.80
0.28	CSGP	COSTAR GROUP INC	2262864	84.15	375	31,556.25
0.27	XEL	XCEL ENERGY INC	2614807	61.03	507	30,942.21
0.27	BIIB	BIOGEN INC	2455965	229.57	133	30,532.81
0.27	BKR	BAKER HUGHES CO	BDHLTQ5	32.80	929	30,471.20
0.25	ON	ON SEMICONDUCTOR	2583576	72.28	397	28,695.16
0.25	GEHC	GE HEALTHCARE TECHNOLOGY	BL6JPG8	67.93	419	28,462.67
0.25	TTD	TRADE DESK INC-A	BD8FDD1	68.33	410	28,015.30
0.24	MRNA	MODERNA INC	BGSXTS3	78.28	350	27,398.00
0.24	TEAM	ATLASSIAN CORP-CL A	BQ1PC76	190.70	141	26,888.70
0.24	ZS	ZSCALER INC	BZ00V34	198.91	134	26,653.94
0.23	GFS	GLOBALFOUNDRIES INC	BMW7F63	51.62	503	25,964.86
0.23	DLTR	DOLLAR TREE INC	2272476	127.76	202	25,807.52
0.22	FANG	DIAMONDBACK ENERGY INC	B7Y8YR3	150.15	165	24,774.75
0.22	WBD	WARNER BROS DISCOVERY INC	BM8JYX3	10.87	2,239	24,337.93
0.20	ANSS	ANSYS INC	2045623	279.27	80	22,341.60
0.18	EBAY	EBAY INC	2293819	41.48	489	20,283.72
0.14	WBA	WALGREENS BOOTS	BTN1Y44	20.51	791	16,223.41
0.14	ILMN	ILLUMINA INC	2613990	111.76	145	16,205.20
0.14	ZM	ZOOM VIDEO COM-A	BGSP7M9	68.72	232	15,943.04
0.14	SIRI	SIRIUS XM HOLDINGS INC	BGLDK10	4.51	3,524	15,893.24
0.13	ALGN	ALIGN TECHNOLOGY INC	2679204	215.35	70	15,074.50
0.12	ENPH	ENPHASE ENERGY INC	B65SQW4	110.00	125	13,750.00
0.11		CASH		1.00	12,227	12,227.27
0.10	JD	JD.COM INC-ADR	BMM27D9	26.12	415	10,839.80
0.08	LCID	LUCID GROUP INC	BP0TR77	4.19	2,071	8,677.49
0.07		NDX US 12/15/23 P15000		1,250.00	6	7,500.00
0.04		OTHER PAYABLE & RECEIVABLES		1.00	4,134	4,134.38
0.02		NQX US 12/15/23 P3000		436.50	6	2,619.00
-0.24		NQX US 12/15/23 C3160		4,600.00	-6	-27,600.00
-1.21		NDX US 12/15/23 C15800		22,945.00	-6	-137,670.00

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

ETF Characteristics As of 12/04/23

Return on Equity	27.00%
Weighted Avg. Market Cap	1,051,170 M
	2022	2023
Price-to-earnings	30.23	26.96
Price-to-book value	7.65	6.95

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 11/30/23

Versus	Beta
S&P 500	0.37
NASDAQ-100	0.33
MSCI EAFE	0.32
MSCI Emg. Mkts	0.26
Standard Deviation	9.00%

Source: new windowAltaVista Research, LLC

ETF Research

ETF Documents

Latest Premium / Discount As of 12/05/23

NAV	$16.93
Market Price	$16.91
Premium / (Discount)	($0.01)

Current View 2023 Q4 As of 12/05/23

Days at Premium	17
Days at NAV	0
Days at Discount	29
Greatest Premium	0.20%
Greatest Discount	-0.19%

Daily Premium / Discount History As of 12/05/23

Hover over the chart points for details

View Chart Explanation

Download Chart Data (.CSV)

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.

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.