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 07/26/24

Inception Date 08/25/21
Total Expense Ratio 0.61%
Net Assets $15.30 million
NAV $16.63
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 07/25/24

Ticker QRMI
Bloomberg Index Ticker NQRMII
CUSIP 37960A503
ISIN US37960A5039
Primary Exchange Nasdaq
Shares Outstanding 920,000
Number of Holdings 105
30-Day Median Bid-Ask Spread 0.24%

Distributions As of 07/26/24

30-Day SEC Yield 0.25%
12-Month Trailing Yield 13.05%
Distribution Yield 11.96%
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 07/26/24

NAV $16.63 Daily Change $0.07 0.42%
Market Price $16.77 Daily Change $0.18 1.08%

Performance History

As of recent month & quarter-end (06/30/24)
As of recent month & quarter-end (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 5.18% 4.99% 6.38%
Since Inception -2.38% -2.42% -2.13%
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 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%

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 07/25/24

Nasdaq 100 Price 18,830.60 Nasdaq 100 Mini Price 188.31

Upside Cap Details

Option Positions Notional Exposure Strike Upside Before Cap Expiration Date Calendar Days to Expiry
Short NASDAQ Call Option -$13,181,409 19650 4.35% 08/16/2024 22
Short NASDAQ 100 Micro Call Option -$1,845,397 196 4.09% 08/16/2024 22

Downside Floor Details

Option Positions Notional Exposure Strike Downside Before Floor Expiration Date Calendar Days to Expiry
Long NASDAQ 100 Micro Put Option $1,845,397 187 -0.69% 08/16/2024 22
Long NASDAQ Put Option $13,181,409 18675 -0.83% 08/16/2024 22

Top Holdings As of 07/26/24

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
8.93 AAPL APPLE INC 2046251 217.96 6,268 1,366,173.28
8.45 MSFT MICROSOFT CORP 2588173 425.27 3,038 1,291,970.26
7.43 NVDA NVIDIA CORP 2379504 113.06 10,055 1,136,818.30
5.08 AMZN AMAZON.COM INC 2000019 182.50 4,254 776,355.00
4.85 AVGO BROADCOM INC BDZ78H9 151.63 4,893 741,925.59
4.34 META META PLATFORMS INC B7TL820 465.70 1,425 663,622.50
2.84 TSLA TESLA INC B616C79 219.80 1,973 433,665.40
2.62 GOOGL ALPHABET INC-CL A BYVY8G0 167.00 2,401 400,967.00
2.53 GOOG ALPHABET INC-CL C BYY88Y7 168.68 2,296 387,289.28
2.50 COST COSTCO WHOLESALE CORP 2701271 817.60 467 381,819.20
1.87 NFLX NETFLIX INC 2857817 631.37 454 286,641.98
1.67 ADBE ADOBE INC 2008154 542.44 472 256,031.68
1.64 PEP PEPSICO INC 2681511 172.75 1,452 250,833.00
1.56 AMD ADVANCED MICRO DEVICES 2007849 139.99 1,705 238,682.95
1.50 LIN LINDE PLC BNZHB81 451.39 508 229,306.12
1.42 TMUS T-MOBILE US INC B94Q9V0 175.53 1,237 217,130.61
1.39 QCOM QUALCOMM INC 2714923 180.05 1,179 212,278.95
1.33 CSCO CISCO SYSTEMS INC 2198163 47.88 4,254 203,681.52
1.27 TXN TEXAS INSTRUMENTS INC 2885409 201.99 961 194,112.39
1.24 AMGN AMGEN INC 2023607 334.85 565 189,190.25
1.22 INTU INTUIT INC 2459020 633.36 294 186,207.84
1.18 AMAT APPLIED MATERIALS INC 2046552 206.47 875 180,661.25
1.12 NDX US 08/16/24 P18675 24,475.00 7 171,325.00
1.08 ISRG INTUITIVE SURGICAL INC 2871301 441.30 373 164,604.90
1.07 CMCSA COMCAST CORP-CLASS A 2044545 39.69 4,133 164,038.77
0.92 INTC INTEL CORP 2463247 31.35 4,495 140,918.25
0.91 HON HONEYWELL INTL 2020459 202.74 687 139,282.38
0.88 VRTX VERTEX PHARM 2931034 495.26 272 134,710.72
0.85 BKNG BOOKING HOLDINGS INC BDRXDB4 3,700.99 35 129,534.65
0.84 MU MICRON TECHNOLOGY INC 2588184 109.41 1,167 127,681.47
0.80 LRCX LAM RESEARCH CORP 2502247 894.64 137 122,565.68
0.80 REGN REGENERON PHARMACEUTICALS 2730190 1,078.63 113 121,885.19
0.77 ADI ANALOG DEVICES INC 2032067 226.43 523 118,422.89
0.74 KLAC KLA CORP 2480138 787.39 143 112,596.77
0.73 PANW PALO ALTO NETWORKS INC B87ZMX0 326.81 342 111,769.02
0.71 ADP AUTOMATIC DATA PROCESSING 2065308 252.67 432 109,153.44
0.66 GILD GILEAD SCIENCES INC 2369174 77.01 1,310 100,883.10
0.61 MDLZ MONDELEZ INTER-A B8CKK03 66.42 1,410 93,652.20
0.60 PDD PDD HOLDINGS INC BYVW0F7 130.80 704 92,083.20
0.59 MELI MERCADOLIBRE INC B23X1H3 1,651.69 55 90,842.95
0.58 SNPS SYNOPSYS INC 2867719 546.38 162 88,513.56
0.58 SBUX STARBUCKS CORP 2842255 74.05 1,192 88,267.60
0.56 ASML ASML HOLDING-NY B908F01 886.73 96 85,126.39
0.53 CTAS CINTAS CORP 2197137 761.39 106 80,707.34
0.48 CDNS CADENCE DESIGN SYS INC 2302232 258.79 286 74,013.94
0.47 MAR MARRIOTT INTL-A 2210614 236.60 301 71,216.60
0.46 CSX CSX CORP 2160753 34.32 2,054 70,493.28
0.46 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 1,110.31 63 69,949.53
0.45 NXPI NXP SEMICONDUCTORS NV B505PN7 253.62 269 68,223.78
0.43 ABNB AIRBNB INC-CLASS A BMGYYH4 140.10 464 65,006.40
0.42 PYPL PAYPAL HOLDINGS INC BYW36M8 58.29 1,099 64,060.71
0.41 CRWD CROWDSTRIKE HO-A BJJP138 256.16 244 62,503.04
0.40 ROP ROPER TECHNOLOGIES INC 2749602 548.53 112 61,435.36
0.39 MRVL MARVELL TECHNOLOGY INC BNKJSM5 65.72 910 59,805.20
0.38 CEG CONSTELLATION ENERGY BMH4FS1 175.04 333 58,288.32
0.37 CHTR CHARTER COMMUN-A BZ6VT82 367.62 152 55,878.24
0.37 MNST MONSTER BEVERAGE CORP BZ07BW4 51.00 1,094 55,794.00
0.36 PCAR PACCAR INC 2665861 99.24 551 54,681.24
0.35 ADSK AUTODESK INC 2065159 240.86 225 54,193.50
0.35 AEP AMERICAN ELECTRIC POWER 2026242 96.45 553 53,336.85
0.34 CPRT COPART INC 2208073 51.05 1,011 51,611.55
0.33 WDAY WORKDAY INC-CLASS A B8K6ZD1 228.64 221 50,529.44
0.33 ROST ROSS STORES INC 2746711 140.91 353 49,741.23
0.32 MRNA MODERNA INC BGSXTS3 122.11 401 48,966.11
0.32 MCHP MICROCHIP TECHNOLOGY INC 2592174 86.83 563 48,885.29
0.31 KDP KEURIG DR PEPPER INC BD3W133 33.74 1,424 48,045.76
0.31 AZN ASTRAZENECA PLC-SPONS ADR 2989044 78.13 612 47,815.56
0.31 PAYX PAYCHEX INC 2674458 125.75 377 47,407.75
0.30 ODFL OLD DOMINION FREIGHT LINE 2656423 202.93 226 45,862.18
0.30 FTNT FORTINET INC B5B2106 57.00 802 45,714.00
0.29 SMCI SUPER MICRO COMPUTER INC B1VQR35 712.19 62 44,155.78
0.28 TTD TRADE DESK INC-A BD8FDD1 92.43 467 43,164.81
0.28 KHC KRAFT HEINZ CO/THE BYRY499 33.36 1,274 42,500.64
0.28 FAST FASTENAL CO 2332262 70.37 602 42,362.74
0.28 VRSK VERISK ANALYTICS INC B4P9W92 279.97 151 42,275.47
0.27 DASH DOORDASH INC - A BN13P03 104.74 399 41,791.26
0.27 IDXX IDEXX LABORATORIES INC 2459202 469.71 87 40,864.77
0.27 EA ELECTRONIC ARTS INC 2310194 145.18 279 40,505.22
0.26 BKR BAKER HUGHES CO BDHLTQ5 37.65 1,044 39,306.60
0.25 CTSH COGNIZANT TECH-A 2257019 74.57 522 38,925.54
0.25 GEHC GE HEALTHCARE TECHNOLOGY BL6JPG8 80.50 478 38,479.00
0.25 EXC EXELON CORP 2670519 36.75 1,047 38,477.25
0.25 DDOG DATADOG INC - CLASS A BKT9Y49 118.31 325 38,450.75
0.25 FANG DIAMONDBACK ENERGY INC B7Y8YR3 200.76 187 37,542.12
0.23 CCEP COCA-COLA EUROPA BYQQ3P5 74.29 480 35,659.20
0.22 CSGP COSTAR GROUP INC 2262864 78.51 429 33,680.79
0.22 XEL XCEL ENERGY INC 2614807 57.36 581 33,326.16
0.21 CDW CDW CORP/DE BBM5MD6 229.74 142 32,623.08
0.21 BIIB BIOGEN INC 2455965 211.17 154 32,520.18
0.21 LULU LULULEMON ATHLETICA INC B23FN39 253.50 126 31,941.00
0.21 ON ON SEMICONDUCTOR 2583576 70.17 451 31,646.67
0.20 GFS GLOBALFOUNDRIES INC BMW7F63 51.75 576 29,808.00
0.19 TEAM ATLASSIAN CORP-CL A BQ1PC76 177.32 167 29,612.44
0.19 CASH 1.00 29,036 29,036.30
0.19 ZS ZSCALER INC BZ00V34 181.36 158 28,654.88
0.19 ANSS ANSYS INC 2045623 312.26 91 28,415.66
0.18 TTWO TAKE-TWO INTERAC 2122117 150.75 179 26,983.36
0.18 DXCM DEXCOM INC B0796X4 64.00 419 26,816.00
0.17 XND US 08/16/24 P187 258.00 98 25,284.00
0.16 DLTR DOLLAR TREE INC 2272476 103.93 229 23,799.97
0.14 WBD WARNER BROS DISCOVERY INC BM8JYX3 8.31 2,552 21,207.12
0.13 ILMN ILLUMINA INC 2613990 120.43 166 19,991.38
0.13 MDB MONGODB INC BF2FJ99 253.50 77 19,519.50
0.12 ARM ARM HOLDINGS PLC-ADR BNSP5P7 149.00 122 18,178.00
-0.04 OTHER PAYABLE & RECEIVABLES 1.00 -5,517 -5,517.12
-0.11 XND US 08/16/24 C196 174.00 -98 -17,052.00
-0.68 NDX US 08/16/24 C19650 14,915.00 -7 -104,405.00
Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Characteristics As of 07/25/24

Return on Equity 22.60%
Weighted Avg. Market Cap 1,061,710 M
2023 2024
Price-to-earnings 33.40 28.54
Price-to-book value 7.06 5.92

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 06/30/24

Versus Beta
S&P 500 0.38
NASDAQ-100 0.33
MSCI EAFE 0.32
MSCI Emg. Mkts 0.26
Standard Deviation 8.60%

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.