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 has made monthly distributions 3 years running.

Key Information As of 04/02/25

Inception Date 08/25/21
Total Expense Ratio 0.60%
Net Assets $20.38 million
NAV $16.71
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 04/02/25

Ticker QRMI
Bloomberg Index Ticker NQRMII
CUSIP 37960A503
ISIN US37960A5039
Primary Exchange Nasdaq
Shares Outstanding 1,220,000
Number of Holdings 105
30-Day Median Bid-Ask Spread 0.24%

Distributions As of 04/02/25

30-Day SEC Yield 0.22%
Trailing 12-Month Distribution (%) 1 13.01%
Distribution Rate 2 12.22%
Distribution Frequency Monthly

1The distribution as a percentage an investor would have received if they had held the fund over the last twelve months, assuming the most recent NAV. The Trailing 12-Month Distribution (%) is calculated by summing any income, capital gains and return of capital distributions over the past twelve months and dividing by the sum of the most recent NAV and any capital gain distributions made over the same period. The distribution is estimated to include a return of capital. For information on the breakdown of the distributions, please see the “19a Notice” here. These do not imply rates for any future distributions.

2The annual rate an investor would receive if the most recent fund distribution remained the same going forward. The rate represents a single distribution from the fund and does not represent total return of the fund. The distribution rate is calculated by annualizing the most recent distribution and dividing by the most recent fund NAV. The distribution is estimated to include a return of capital. For information on the breakdown of the distributions, please see the “19a Notice” here. These do not imply rates for any future distributions.

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 04/02/25

NAV $16.71 Daily Change $0.04 0.24%
Market Price $16.74 Daily Change $0.10 0.60%

Performance History

As of recent month & quarter-end (03/31/25)
As of recent month & quarter-end (03/31/25)
Fund NAV Market Price Index
1 Year 7.61% 7.55% 8.83%
3 Years 2.81% 2.79% 3.85%
Since Inception 0.17% 0.22% 0.58%
1 Year 7.61% 7.55% 8.83%
3 Years 2.81% 2.79% 3.85%
Since Inception 0.17% 0.22% 0.58%
Year-to-Date -1.50% -1.56% -1.01%
1 Month -1.55% -1.49% -1.34%
3 Months -1.50% -1.56% -1.01%
Since Inception 0.62% 0.78% 2.11%
Year-to-Date -1.50% -1.56% -1.01%
1 Month -1.55% -1.49% -1.34%
3 Months -1.50% -1.56% -1.01%
Since Inception 0.62% 0.78% 2.11%

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 04/02/25

Nasdaq 100 Price 19,581.78 Nasdaq 100 Mini Price 195.82

Upside Cap Details

Option Positions Notional Exposure Strike Upside Before Cap Expiration Date Calendar Days to Expiry
Short NASDAQ Call Option -$19,581,780 19600 0.09% 04/17/2025 15
Short NASDAQ 100 Micro Call Option -$1,057,416 196 0.09% 04/17/2025 15

Downside Floor Details

Option Positions Notional Exposure Strike Downside Before Floor Expiration Date Calendar Days to Expiry
Long NASDAQ Put Option $19,581,780 18600 -5.01% 04/17/2025 15
Long NASDAQ 100 Micro Put Option $1,135,743 185 -5.52% 04/17/2025 15

Top Holdings As of 04/02/25

Full Holdings (.csv)
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
9.47 AAPL APPLE INC 2046251 223.89 8,617 1,929,260.13
7.99 MSFT MICROSOFT CORP 2588173 382.14 4,263 1,629,062.82
7.58 NVDA NVIDIA CORP 2379504 110.42 13,994 1,545,217.48
5.85 AMZN AMAZON.COM INC 2000019 196.01 6,079 1,191,544.79
3.75 AVGO BROADCOM INC BDZ78H9 172.09 4,441 764,251.69
3.60 META META PLATFORMS INC B7TL820 583.93 1,256 733,416.08
2.96 COST COSTCO WHOLESALE CORP 2701271 965.08 626 604,140.08
2.89 TSLA TESLA INC B616C79 282.76 2,083 588,989.08
2.77 NFLX NETFLIX INC 2857817 935.52 604 565,054.08
2.57 GOOGL ALPHABET INC-CL A BYVY8G0 157.04 3,341 524,670.64
2.46 GOOG ALPHABET INC-CL C BYY88Y7 158.86 3,154 501,044.44
2.09 TMUS T-MOBILE US INC B94Q9V0 264.56 1,609 425,677.04
1.69 CSCO CISCO SYSTEMS INC 2198163 61.41 5,612 344,632.92
1.53 LIN LINDE PLC BNZHB81 469.74 663 311,437.62
1.42 PEP PEPSICO INC 2681511 149.12 1,936 288,696.32
1.36 PLTR PALANTIR TECHN-A BN78DQ4 87.45 3,173 277,478.85
1.25 ISRG INTUITIVE SURGICAL INC 2871301 507.05 502 254,539.10
1.19 INTU INTUIT INC 2459020 620.91 392 243,396.72
1.18 QCOM QUALCOMM INC 2714923 154.08 1,562 240,672.96
1.16 ADBE ADOBE INC 2008154 385.78 613 236,483.14
1.16 AMD ADVANCED MICRO DEVICES 2007849 102.96 2,288 235,572.48
1.13 AMGN AMGEN INC 2023607 305.70 756 231,109.20
1.13 TXN TEXAS INSTRUMENTS INC 2885409 178.19 1,289 229,686.91
1.06 BKNG BOOKING HOLDINGS INC BDRXDB4 4,689.30 46 215,707.80
0.98 HON HONEYWELL INTL 2020459 215.99 921 198,926.79
0.96 GILD GILEAD SCIENCES INC 2369174 111.89 1,753 196,143.17
0.96 CMCSA COMCAST CORP-CLASS A 2044545 36.61 5,324 194,911.64
0.87 ADP AUTOMATIC DATA PROCESSING 2065308 307.23 577 177,271.71
0.86 VRTX VERTEX PHARM 2931034 483.49 363 175,506.87
0.83 AMAT APPLIED MATERIALS INC 2046552 147.75 1,143 168,878.25
0.80 PANW PALO ALTO NETWORKS INC B87ZMX0 173.18 937 162,269.66
0.78 SBUX STARBUCKS CORP 2842255 99.41 1,601 159,155.41
0.69 ADI ANALOG DEVICES INC 2032067 199.59 702 140,112.18
0.68 MU MICRON TECHNOLOGY INC 2588184 88.60 1,573 139,367.80
0.68 MELI MERCADOLIBRE INC B23X1H3 1,934.03 72 139,250.16
0.66 INTC INTEL CORP 2463247 21.98 6,108 134,253.84
0.66 LRCX LAM RESEARCH CORP BSML4N7 73.78 1,812 133,689.36
0.65 KLAC KLA CORP 2480138 686.19 192 131,748.48
0.63 APP APPLOVIN CORP-CLASS A BMV3LG4 290.39 440 127,771.60
0.61 CRWD CROWDSTRIKE HO-A BJJP138 371.49 333 123,706.17
0.59 MDLZ MONDELEZ INTER-A B8CKK03 66.13 1,825 120,687.25
0.59 CTAS CINTAS CORP 2197137 208.67 572 119,359.24
0.58 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 1,417.01 84 119,028.84
0.57 NDX US 04/17/25 P18600 11,600.00 10 116,000.00
0.53 PDD PDD HOLDINGS INC BYVW0F7 119.07 909 108,234.63
0.52 FTNT FORTINET INC B5B2106 98.08 1,086 106,514.88
0.52 DASH DOORDASH INC - A BN13P03 189.25 560 105,980.00
0.52 MSTR MICROSTRATEGY INC-CL A 2974329 312.54 338 105,638.52
0.50 CDNS CADENCE DESIGN SYS INC 2302232 264.94 385 102,001.90
0.47 SNPS SYNOPSYS INC 2867719 438.55 220 96,481.00
0.47 CEG CONSTELLATION ENERGY BMH4FS1 214.46 445 95,434.70
0.46 MAR MARRIOTT INTL-A 2210614 242.56 387 93,870.72
0.46 PYPL PAYPAL HOLDINGS INC BYW36M8 67.15 1,392 93,472.80
0.46 REGN REGENERON PHARMACEUTICALS 2730190 625.60 149 93,214.40
0.43 ROP ROPER TECHNOLOGIES INC 2749602 590.36 149 87,963.64
0.40 ASML ASML HOLDING-NY B908F01 669.01 122 81,619.22
0.40 MNST MONSTER BEVERAGE CORP BZ07BW4 59.36 1,371 81,382.56
0.40 AEP AMERICAN ELECTRIC POWER 2026242 107.75 751 80,920.25
0.39 ADSK AUTODESK INC 2065159 267.93 299 80,111.07
0.39 CSX CSX CORP 2160753 29.74 2,674 79,524.76
0.39 PAYX PAYCHEX INC 2674458 154.94 506 78,399.64
0.38 CPRT COPART INC 2208073 57.47 1,361 78,216.67
0.38 MRVL MARVELL TECHNOLOGY INC BNKJSM5 63.23 1,221 77,203.83
0.38 CHTR CHARTER COMMUN-A BZ6VT82 379.27 203 76,991.81
0.37 ABNB AIRBNB INC-CLASS A BMGYYH4 122.80 611 75,030.80
0.36 PCAR PACCAR INC 2665861 99.09 740 73,326.60
0.34 WDAY WORKDAY INC-CLASS A B8K6ZD1 235.39 298 70,146.22
0.34 NXPI NXP SEMICONDUCTORS NV B505PN7 193.67 358 69,333.86
0.33 KDP KEURIG DR PEPPER INC BD3W133 35.14 1,917 67,363.38
0.32 FANG DIAMONDBACK ENERGY INC B7Y8YR3 161.49 405 65,403.45
0.32 EXC EXELON CORP 2670519 45.97 1,421 65,323.37
0.31 FAST FASTENAL CO 2332262 78.01 812 63,344.12
0.31 BKR BAKER HUGHES CO BDHLTQ5 44.92 1,393 62,573.56
0.30 ROST ROSS STORES INC 2746711 132.37 467 61,816.79
0.30 AXON AXON ENTERPRISE INC BDT5S35 558.42 109 60,867.78
0.30 VRSK VERISK ANALYTICS INC B4P9W92 299.71 201 60,241.71
0.28 XEL XCEL ENERGY INC 2614807 70.90 814 57,712.60
0.28 AZN ASTRAZENECA PLC-SPONS ADR 2989044 72.22 785 56,692.70
0.28 CCEP COCA-COLA EUROPA BYQQ3P5 87.41 647 56,554.27
0.26 CTSH COGNIZANT TECH-A 2257019 76.73 700 53,711.00
0.26 EA ELECTRONIC ARTS INC 2310194 144.87 368 53,312.16
0.26 TTWO TAKE-TWO INTERAC 2122117 211.10 249 52,563.90
0.26 TEAM ATLASSIAN CORP-CL A BQ1PC76 223.96 232 51,958.72
0.25 GEHC GE HEALTHCARE TECHNOLOGY BL6JPG8 79.36 643 51,028.48
0.25 KHC KRAFT HEINZ CO/THE BYRY499 30.13 1,687 50,829.31
0.25 ODFL OLD DOMINION FREIGHT LINE 2656423 170.10 296 50,349.60
0.24 IDXX IDEXX LABORATORIES INC 2459202 426.25 115 49,018.75
0.23 CSGP COSTAR GROUP INC 2262864 79.92 581 46,433.52
0.23 DDOG DATADOG INC - CLASS A BKT9Y49 101.71 451 45,871.21
0.22 LULU LULULEMON ATHLETICA INC B23FN39 282.75 161 45,522.75
0.22 ZS ZSCALER INC BZ00V34 207.04 218 45,134.72
0.20 ANSS ANSYS INC 2045623 320.91 124 39,792.84
0.19 DXCM DEXCOM INC B0796X4 68.14 556 37,885.84
0.18 MCHP MICROCHIP TECHNOLOGY INC 2592174 48.93 757 37,040.01
0.18 WBD WARNER BROS DISCOVERY INC BM8JYX3 10.56 3,460 36,537.60
0.18 TTD TRADE DESK INC-A BD8FDD1 56.30 636 35,806.80
0.15 CDW CDW CORP/DE BBM5MD6 164.47 191 31,413.77
0.14 GFS GLOBALFOUNDRIES INC BMW7F63 37.18 776 28,851.68
0.14 BIIB BIOGEN INC 2455965 131.32 209 27,445.88
0.12 ON ON SEMICONDUCTOR 2583576 40.76 596 24,292.96
0.10 MDB MONGODB INC BF2FJ99 180.19 107 19,280.33
0.09 ARM ARM HOLDINGS PLC-ADR BNSP5P7 108.14 172 18,600.08
0.05 CASH 1.00 10,261 10,261.02
0.03 XND US 04/17/25 P185 111.00 58 6,438.00
-0.02 OTHER PAYABLE & RECEIVABLES 1.00 -3,824 -3,823.64
-0.11 XND US 04/17/25 C196 412.50 -54 -22,275.00
-1.96 NDX US 04/17/25 C19600 39,950.00 -10 -399,500.00
Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Characteristics As of 04/02/25

Return on Equity 25.80%
Weighted Avg. Market Cap 1,144,560 M
2024 2025
Price-to-earnings 30.44 25.75
Price-to-book value 7.41 6.02

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 03/31/25

Versus Beta
S&P 500 0.35
NASDAQ-100 0.31
MSCI EAFE 0.27
MSCI Emg. Mkts 0.23
Standard Deviation 7.70%

Source: new windowAltaVista Research, LLC

ETF Research

Risk Management Strategies for a Volatile Market Environment

Read the Full ArticleRead More

Understanding the Income Landscape for Options Strategies

Read the Full ArticleRead More

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.