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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 01/24/25

Inception Date 08/25/21
Total Expense Ratio 0.61%
Net Assets $18.59 million
NAV $17.54
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 01/23/25

Ticker QRMI
Bloomberg Index Ticker NQRMII
CUSIP 37960A503
ISIN US37960A5039
Primary Exchange Nasdaq
Shares Outstanding 1,060,000
Number of Holdings 105
30-Day Median Bid-Ask Spread 0.23%

Distributions As of 01/24/25

30-Day SEC Yield 0.24%
Trailing 12-Month Distribution (%) 1 12.35%
Distribution Rate 2 11.96%
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 01/24/25

NAV $17.54 Daily Change -$0.02 -0.11%
Market Price $17.53 Daily Change -$0.05 -0.28%

Performance History

As of recent month & quarter-end (12/31/24)
As of recent month & quarter-end (12/31/24)
Fund NAV Market Price Index
1 Year 14.50% 14.69% 15.72%
3 Years 1.32% 1.43% 1.96%
Since Inception 0.64% 0.70% 0.93%
1 Year 14.50% 14.69% 15.72%
3 Years 1.32% 1.43% 1.96%
Since Inception 0.64% 0.70% 0.93%
Year-to-Date 14.50% 14.69% 15.72%
1 Month 3.03% 3.15% 3.05%
3 Months 5.55% 5.54% 5.54%
Since Inception 2.16% 2.38% 3.16%
Year-to-Date 14.50% 14.69% 15.72%
1 Month 3.03% 3.15% 3.05%
3 Months 5.55% 5.54% 5.54%
Since Inception 2.16% 2.38% 3.16%

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 01/24/25

Nasdaq 100 Price 21,774.01 Nasdaq 100 Mini Price 217.74

Upside Cap Details

Option Positions Notional Exposure Strike Upside Before Cap Expiration Date Calendar Days to Expiry
Short NASDAQ 100 Micro Call Option -$1,633,051 214 0.00% 02/21/2025 28
Short NASDAQ Call Option -$17,419,209 21450 0.00% 02/21/2025 28

Downside Floor Details

Option Positions Notional Exposure Strike Downside Before Floor Expiration Date Calendar Days to Expiry
Long NASDAQ 100 Micro Put Option $1,633,051 203 -6.77% 02/21/2025 28
Long NASDAQ Put Option $17,419,209 20375 -6.43% 02/21/2025 28

Top Holdings As of 01/24/25

Full Holdings (.csv)
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
8.94 NVDA NVIDIA CORP 2379504 142.62 11,650 1,661,523.00
8.62 AAPL APPLE INC 2046251 222.78 7,191 1,602,010.98
8.45 MSFT MICROSOFT CORP 2588173 444.06 3,536 1,570,196.16
6.32 AMZN AMAZON.COM INC 2000019 234.85 5,000 1,174,250.00
4.83 AVGO BROADCOM INC BDZ78H9 244.70 3,672 898,538.40
3.77 TSLA TESLA INC B616C79 406.58 1,724 700,943.92
3.63 META META PLATFORMS INC B7TL820 647.49 1,041 674,037.09
3.00 GOOGL ALPHABET INC-CL A BYVY8G0 200.21 2,786 557,785.06
2.87 GOOG ALPHABET INC-CL C BYY88Y7 201.90 2,639 532,814.10
2.63 NFLX NETFLIX INC 2857817 977.59 500 488,795.00
2.63 COST COSTCO WHOLESALE CORP 2701271 939.68 520 488,633.60
1.60 TMUS T-MOBILE US INC B94Q9V0 218.57 1,357 296,599.49
1.56 CSCO CISCO SYSTEMS INC 2198163 62.23 4,651 289,431.73
1.31 ISRG INTUITIVE SURGICAL INC 2871301 584.05 417 243,548.85
1.31 LIN LINDE PLC BNZHB81 439.25 554 243,344.50
1.28 PEP PEPSICO INC 2681511 149.12 1,600 238,592.00
1.25 AMD ADVANCED MICRO DEVICES 2007849 122.84 1,892 232,413.28
1.20 ADBE ADOBE INC 2008154 435.38 514 223,785.32
1.20 QCOM QUALCOMM INC 2714923 172.11 1,293 222,538.23
1.12 CASH 1.00 208,328 208,328.32
1.08 PLTR PALANTIR TECHN-A BN78DQ4 78.98 2,535 200,214.30
1.06 TXN TEXAS INSTRUMENTS INC 2885409 185.52 1,061 196,836.72
1.05 INTU INTUIT INC 2459020 597.95 327 195,529.65
0.97 BKNG BOOKING HOLDINGS INC BDRXDB4 4,764.89 38 181,065.82
0.96 AMAT APPLIED MATERIALS INC 2046552 186.75 958 178,906.50
0.93 AMGN AMGEN INC 2023607 275.42 625 172,137.50
0.90 CMCSA COMCAST CORP-CLASS A 2044545 37.62 4,467 168,048.54
0.90 HON HONEYWELL INTL 2020459 221.51 755 167,240.05
0.77 PANW PALO ALTO NETWORKS INC B87ZMX0 187.70 761 142,839.70
0.75 ADP AUTOMATIC DATA PROCESSING 2065308 297.10 472 140,231.20
0.72 GILD GILEAD SCIENCES INC 2369174 93.07 1,445 134,486.15
0.72 MU MICRON TECHNOLOGY INC 2588184 103.19 1,291 133,218.29
0.71 VRTX VERTEX PHARM 2931034 439.62 299 131,446.38
0.70 SBUX STARBUCKS CORP 2842255 98.81 1,314 129,836.34
0.70 APP APPLOVIN CORP-CLASS A BMV3LG4 363.10 356 129,263.60
0.69 ADI ANALOG DEVICES INC 2032067 217.37 587 127,596.19
0.68 CEG CONSTELLATION ENERGY BMH4FS1 347.44 366 127,163.04
0.68 MRVL MARVELL TECHNOLOGY INC BNKJSM5 124.02 1,014 125,756.28
0.64 LRCX LAM RESEARCH CORP BSML4N7 79.68 1,490 118,723.20
0.62 KLAC KLA CORP 2480138 749.82 154 115,472.28
0.59 MELI MERCADOLIBRE INC B23X1H3 1,843.45 59 108,763.55
0.57 INTC INTEL CORP 2463247 20.83 5,054 105,274.82
0.56 PYPL PAYPAL HOLDINGS INC BYW36M8 89.11 1,159 103,278.49
0.55 CDNS CADENCE DESIGN SYS INC 2302232 320.48 321 102,874.08
0.55 CRWD CROWDSTRIKE HO-A BJJP138 374.92 274 102,728.08
0.53 SNPS SYNOPSYS INC 2867719 546.19 180 98,314.20
0.50 MSTR MICROSTRATEGY INC-CL A 2974329 353.67 264 93,368.88
0.50 MAR MARRIOTT INTL-A 2210614 284.11 325 92,335.75
0.50 CTAS CINTAS CORP 2197137 197.39 466 91,983.74
0.49 MDLZ MONDELEZ INTER-A B8CKK03 57.42 1,578 90,608.76
0.47 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 1,254.00 70 87,780.00
0.47 PDD PDD HOLDINGS INC BYVW0F7 111.34 788 87,735.92
0.47 FTNT FORTINET INC B5B2106 96.90 901 87,306.90
0.47 REGN REGENERON PHARMACEUTICALS 2730190 675.79 129 87,176.91
0.44 DASH DOORDASH INC - A BN13P03 183.32 447 81,944.04
0.40 CSX CSX CORP 2160753 32.69 2,280 74,533.20
0.40 ADSK AUTODESK INC 2065159 300.83 246 74,004.18
0.40 ASML ASML HOLDING-NY B908F01 732.25 101 73,957.25
0.37 PCAR PACCAR INC 2665861 109.90 617 67,808.30
0.35 CPRT COPART INC 2208073 57.70 1,131 65,258.70
0.35 ROP ROPER TECHNOLOGIES INC 2749602 531.37 122 64,827.14
0.34 ABNB AIRBNB INC-CLASS A BMGYYH4 127.09 497 63,163.73
0.34 TTD TRADE DESK INC-A BD8FDD1 119.96 526 63,098.96
0.34 NXPI NXP SEMICONDUCTORS NV B505PN7 213.43 295 62,961.85
0.34 WDAY WORKDAY INC-CLASS A B8K6ZD1 258.28 243 62,762.04
0.33 CHTR CHARTER COMMUN-A BZ6VT82 367.58 168 61,753.44
0.33 PAYX PAYCHEX INC 2674458 146.11 422 61,658.42
0.33 AEP AMERICAN ELECTRIC POWER 2026242 98.18 625 61,362.50
0.32 FANG DIAMONDBACK ENERGY INC B7Y8YR3 173.26 341 59,081.66
0.32 ROST ROSS STORES INC 2746711 149.28 393 58,667.04
0.31 AXON AXON ENTERPRISE INC BDT5S35 610.32 94 57,370.08
0.30 LULU LULULEMON ATHLETICA INC B23FN39 400.03 140 56,004.20
0.30 MNST MONSTER BEVERAGE CORP BZ07BW4 48.28 1,151 55,570.28
0.29 NDX US 02/21/25 P20375 6,635.00 8 53,080.00
0.28 BKR BAKER HUGHES CO BDHLTQ5 45.55 1,160 52,838.00
0.28 DDOG DATADOG INC - CLASS A BKT9Y49 140.99 364 51,320.36
0.27 FAST FASTENAL CO 2332262 75.53 669 50,529.57
0.27 KDP KEURIG DR PEPPER INC BD3W133 31.15 1,591 49,559.65
0.26 TEAM ATLASSIAN CORP-CL A BQ1PC76 264.81 185 48,989.85
0.26 VRSK VERISK ANALYTICS INC B4P9W92 278.93 172 47,975.96
0.26 GEHC GE HEALTHCARE TECHNOLOGY BL6JPG8 88.67 534 47,349.78
0.25 AZN ASTRAZENECA PLC-SPONS ADR 2989044 69.06 680 46,960.80
0.25 ODFL OLD DOMINION FREIGHT LINE 2656423 190.81 244 46,557.64
0.25 CTSH COGNIZANT TECH-A 2257019 80.05 580 46,429.00
0.25 EXC EXELON CORP 2670519 39.38 1,170 46,074.60
0.23 XEL XCEL ENERGY INC 2614807 66.61 650 43,296.50
0.22 KHC KRAFT HEINZ CO/THE BYRY499 29.31 1,414 41,444.34
0.22 IDXX IDEXX LABORATORIES INC 2459202 435.33 95 41,356.35
0.22 CCEP COCA-COLA EUROPA BYQQ3P5 76.78 536 41,154.08
0.22 DXCM DEXCOM INC B0796X4 88.75 454 40,292.50
0.21 TTWO TAKE-TWO INTERAC 2122117 185.49 211 39,138.39
0.20 ANSS ANSYS INC 2045623 357.37 105 37,523.85
0.20 EA ELECTRONIC ARTS INC 2310194 116.56 312 36,366.72
0.19 ZS ZSCALER INC BZ00V34 193.47 186 35,985.42
0.19 MCHP MICROCHIP TECHNOLOGY INC 2592174 56.39 628 35,412.92
0.18 CSGP COSTAR GROUP INC 2262864 74.16 462 34,261.92
0.17 CDW CDW CORP/DE BBM5MD6 195.13 158 30,830.54
0.16 WBD WARNER BROS DISCOVERY INC BM8JYX3 10.25 2,941 30,145.25
0.15 GFS GLOBALFOUNDRIES INC BMW7F63 41.67 660 27,502.20
0.14 ON ON SEMICONDUCTOR 2583576 54.50 474 25,833.00
0.13 ARM ARM HOLDINGS PLC-ADR BNSP5P7 162.52 147 23,890.44
0.13 MDB MONGODB INC BF2FJ99 261.86 91 23,829.26
0.13 BIIB BIOGEN INC 2455965 146.20 161 23,538.20
0.03 XND US 02/21/25 P203 65.50 75 4,912.50
-0.27 XND US 02/21/25 C214 665.00 -75 -49,875.00
-1.04 OTHER PAYABLE & RECEIVABLES 1.00 -192,795 -192,794.95
-2.67 NDX US 02/21/25 C21450 62,160.00 -8 -497,280.00
Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Characteristics As of 01/24/25

Return on Equity 22.00%
Weighted Avg. Market Cap 1,268,180 M
2023 2024
Price-to-earnings 36.50 32.14
Price-to-book value 7.70 6.53

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 12/31/24

Versus Beta
S&P 500 0.38
NASDAQ-100 0.33
MSCI EAFE 0.31
MSCI Emg. Mkts 0.25
Standard Deviation 8.40%

Source: new windowAltaVista Research, LLC

ETF Research

Risk Management Strategies for a Volatile Market Environment

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Understanding the Income Landscape for Options Strategies

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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.