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 02/28/24

Inception Date 08/25/21
Total Expense Ratio 0.60%
Net Assets $12.79 million
NAV $17.28
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 02/27/24

Ticker QRMI
Bloomberg Index Ticker NQRMII
CUSIP 37960A503
ISIN US37960A5039
Primary Exchange Nasdaq
Shares Outstanding 740,000
Number of Holdings 105
30-Day Median Bid-Ask Spread 0.29%

Distributions As of 02/28/24

30-Day SEC Yield 0.24%
12-Month Trailing Yield 12.93%
Distribution Yield 12.60%
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 02/28/24

NAV $17.28 Daily Change -$0.02 -0.12%
Market Price $17.30 Daily Change $0.00 0.00%

Performance History

As of recent
(12/31/23)
As of recent
(12/31/23)
Fund NAV Market Price Index
1 Year 11.45% 11.71% 11.65%
Since Inception -4.74% -4.72% -4.77%
1 Year 8.06% 8.48% 8.39%
Since Inception -3.93% -3.84% -3.94%
Year-to-Date 11.45% 11.71% 11.65%
1 Month 2.20% 2.32% 2.29%
3 Months 3.47% 3.53% 3.55%
Since Inception -10.78% -10.74% -10.86%
Year-to-Date 1.67% 1.84% 1.72%
1 Month 1.67% 1.84% 1.72%
3 Months 6.71% 7.15% 6.79%
Since Inception -9.30% -9.09% -9.32%

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 02/27/24

Nasdaq 100 Price 17,971.00 Nasdaq 100 Mini Price 3,594.21

Upside Cap Details

Option Positions Notional Exposure Strike Upside Before Cap Expiration Date Calendar Days to Expiry
Short NASDAQ Call Option -$10,782,628 17750 0.00% 03/15/2024 17
Short NASDAQ 100 Reduced Value Call Option -$2,156,526 3550 0.00% 03/15/2024 17

Downside Floor Details

Option Positions Notional Exposure Strike Downside Before Floor Expiration Date Calendar Days to Expiry
Long NASDAQ Put Option $10,782,628 16850 -6.24% 03/15/2024 17
Long NASDAQ 100 Reduced Value Put Option $2,156,526 3350 -6.79% 03/15/2024 17

Top Holdings As of 02/28/24

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
8.94 MSFT MICROSOFT CORP 2588173 407.72 2,802 1,142,431.44
8.32 AAPL APPLE INC 2046251 181.42 5,862 1,063,484.04
5.66 NVDA NVIDIA CORP 2379504 776.63 932 723,819.16
5.28 AMZN AMAZON.COM INC 2000019 173.16 3,895 674,458.20
5.04 META META PLATFORMS INC B7TL820 484.02 1,331 644,230.62
4.58 AVGO BROADCOM INC BDZ78H9 1,289.42 454 585,396.68
2.87 TSLA TESLA INC B616C79 202.04 1,814 366,500.56
2.52 COST COSTCO WHOLESALE CORP 2701271 747.96 431 322,370.76
2.38 GOOGL ALPHABET INC-CL A BYVY8G0 136.38 2,229 303,991.02
2.32 GOOG ALPHABET INC-CL C BYY88Y7 137.43 2,156 296,299.08
2.17 AMD ADVANCED MICRO DEVICES 2007849 176.54 1,571 277,344.34
1.99 NFLX NETFLIX INC 2857817 596.48 426 254,100.48
1.91 ADBE ADOBE INC 2008154 551.82 443 244,456.26
1.73 PEP PEPSICO INC 2681511 165.77 1,337 221,627.81
1.49 CSCO CISCO SYSTEMS INC 2198163 48.06 3,950 189,837.00
1.43 TMUS T-MOBILE US INC B94Q9V0 163.15 1,124 183,380.60
1.41 INTU INTUIT INC 2459020 659.16 273 179,950.68
1.35 INTC INTEL CORP 2463247 41.99 4,098 172,075.02
1.32 QCOM QUALCOMM INC 2714923 155.85 1,083 168,785.55
1.29 CMCSA COMCAST CORP-CLASS A 2044545 42.15 3,904 164,553.60
1.26 AMAT APPLIED MATERIALS INC 2046552 197.54 813 160,600.02
1.13 AMGN AMGEN INC 2023607 277.46 520 144,279.20
1.13 TXN TEXAS INSTRUMENTS INC 2885409 163.04 883 143,964.32
1.04 ISRG INTUITIVE SURGICAL INC 2871301 386.59 343 132,600.37
0.99 HON HONEYWELL INTL 2020459 196.49 641 125,950.09
0.93 LRCX LAM RESEARCH CORP 2502247 922.67 129 119,024.43
0.90 BKNG BOOKING HOLDINGS INC BDRXDB4 3,495.63 33 115,355.79
0.83 VRTX VERTEX PHARM 2931034 426.97 249 106,315.53
0.80 SBUX STARBUCKS CORP 2842255 93.00 1,104 102,672.00
0.80 REGN REGENERON PHARMACEUTICALS 2730190 987.61 103 101,723.83
0.79 ADP AUTOMATIC DATA PROCESSING 2065308 251.56 399 100,372.44
0.76 PANW PALO ALTO NETWORKS INC B87ZMX0 316.15 306 96,741.90
0.76 MDLZ MONDELEZ INTER-A B8CKK03 73.19 1,321 96,683.99
0.75 MU MICRON TECHNOLOGY INC 2588184 89.71 1,072 96,169.12
0.71 ADI ANALOG DEVICES INC 2032067 187.76 483 90,688.08
0.70 KLAC KLA CORP 2480138 673.00 132 88,836.00
0.69 GILD GILEAD SCIENCES INC 2369174 72.70 1,208 87,821.60
0.66 SNPS SYNOPSYS INC 2867719 570.28 148 84,401.44
0.64 PDD PDD HOLDINGS INC BYVW0F7 125.01 649 81,131.49
0.63 ASML ASML HOLDING-NY B908F01 939.50 85 79,857.50
0.62 CDNS CADENCE DESIGN SYS INC 2302232 300.58 265 79,653.70
0.62 MELI MERCADOLIBRE INC B23X1H3 1,579.49 50 78,974.50
0.57 CSX CSX CORP 2160753 37.68 1,916 72,194.88
0.56 MAR MARRIOTT INTL-A 2210614 248.99 285 70,962.15
0.56 CRWD CROWDSTRIKE HO-A BJJP138 320.94 221 70,927.74
0.51 ABNB AIRBNB INC-CLASS A BMGYYH4 153.43 422 64,747.46
0.50 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 1,092.96 58 63,391.68
0.49 PYPL PAYPAL HOLDINGS INC BYW36M8 60.25 1,044 62,901.00
0.49 CTAS CINTAS CORP 2197137 630.72 99 62,441.28
0.48 NXPI NXP SEMICONDUCTORS NV B505PN7 243.98 249 60,751.02
0.47 WDAY WORKDAY INC-CLASS A B8K6ZD1 295.16 203 59,917.48
0.44 ROP ROPER TECHNOLOGIES INC 2749602 543.45 104 56,518.80
0.44 PCAR PACCAR INC 2665861 111.37 507 56,464.59
0.44 MRVL MARVELL TECHNOLOGY INC BNKJSM5 67.54 835 56,395.90
0.44 MNST MONSTER BEVERAGE CORP BZ07BW4 55.85 1,008 56,296.80
0.43 LULU LULULEMON ATHLETICA INC B23FN39 464.14 118 54,768.52
0.41 ADSK AUTODESK INC 2065159 255.25 207 52,836.75
0.41 CEG CONSTELLATION ENERGY BMH4FS1 170.83 308 52,615.64
0.40 FTNT FORTINET INC B5B2106 69.51 743 51,645.93
0.39 CPRT COPART INC 2208073 53.08 930 49,364.40
0.39 ROST ROSS STORES INC 2746711 150.45 327 49,197.15
0.37 IDXX IDEXX LABORATORIES INC 2459202 571.68 82 46,877.76
0.36 ODFL OLD DOMINION FREIGHT LINE 2656423 432.90 106 45,887.40
0.34 DASH DOORDASH INC - A BN13P03 122.44 359 43,955.96
0.34 MCHP MICROCHIP TECHNOLOGY INC 2592174 82.18 523 42,980.14
0.34 PAYX PAYCHEX INC 2674458 122.41 350 42,843.50
0.33 DXCM DEXCOM INC B0796X4 114.22 373 42,604.06
0.33 AEP AMERICAN ELECTRIC POWER 2026242 83.32 508 42,326.56
0.33 KHC KRAFT HEINZ CO/THE BYRY499 35.54 1,185 42,114.90
0.32 CHTR CHARTER COMMUN-A BZ6VT82 288.34 143 41,232.62
0.32 GEHC GE HEALTHCARE TECHNOLOGY BL6JPG8 93.02 440 40,928.80
0.32 FAST FASTENAL CO 2332262 73.56 553 40,678.68
0.32 KDP KEURIG DR PEPPER INC BD3W133 30.03 1,351 40,570.53
0.30 DDOG DATADOG INC - CLASS A BKT9Y49 130.47 292 38,097.24
0.30 CTSH COGNIZANT TECH-A 2257019 78.48 485 38,062.80
0.29 MRNA MODERNA INC BGSXTS3 97.48 381 37,139.88
0.29 AZN ASTRAZENECA PLC-SPONS ADR 2989044 65.35 563 36,792.05
0.29 TTD TRADE DESK INC-A BD8FDD1 84.90 431 36,591.90
0.29 EA ELECTRONIC ARTS INC 2310194 140.08 261 36,560.88
0.27 EXC EXELON CORP 2670519 35.80 960 34,368.00
0.27 CSGP COSTAR GROUP INC 2262864 86.35 393 33,935.55
0.27 ZS ZSCALER INC BZ00V34 237.29 143 33,932.47
0.27 VRSK VERISK ANALYTICS INC B4P9W92 242.00 140 33,880.00
0.25 TEAM ATLASSIAN CORP-CL A BQ1PC76 207.05 155 32,092.75
0.25 FANG DIAMONDBACK ENERGY INC B7Y8YR3 179.76 178 31,997.28
0.25 CDW CDW CORP/DE BBM5MD6 244.91 130 31,838.30
0.25 ON ON SEMICONDUCTOR 2583576 76.47 416 31,811.52
0.25 CCEP COCA-COLA EUROPA BYQQ3P5 69.60 456 31,737.60
0.24 BIIB BIOGEN INC 2455965 221.74 140 31,043.60
0.24 DLTR DOLLAR TREE INC 2272476 146.14 210 30,689.40
0.24 XEL XCEL ENERGY INC 2614807 57.67 532 30,680.44
0.24 MDB MONGODB INC BF2FJ99 443.45 69 30,598.05
0.23 GFS GLOBALFOUNDRIES INC BMW7F63 52.64 546 28,741.44
0.22 BKR BAKER HUGHES CO BDHLTQ5 29.48 969 28,566.12
0.22 ANSS ANSYS INC 2045623 333.09 83 27,646.47
0.20 SPLK SPLUNK INC B424494 156.16 166 25,922.56
0.19 TTWO TAKE-TWO INTERAC 2122117 147.48 168 24,776.64
0.18 ILMN ILLUMINA INC 2613990 140.98 159 22,415.82
0.16 WBD WARNER BROS DISCOVERY INC BM8JYX3 8.71 2,343 20,407.53
0.14 WBA WALGREENS BOOTS BTN1Y44 21.16 873 18,472.68
0.14 SIRI SIRIUS XM HOLDINGS INC BGLDK10 4.43 3,884 17,206.12
0.12 NDX US 03/15/24 P16850 2,510.00 6 15,060.00
0.11 CASH 1.00 13,446 13,445.68
0.04 OTHER PAYABLE & RECEIVABLES 1.00 5,558 5,557.78
0.02 NQX US 03/15/24 P3350 455.00 6 2,730.00
-0.31 NQX US 03/15/24 C3550 6,640.00 -6 -39,840.00
-1.54 NDX US 03/15/24 C17750 32,900.00 -6 -197,400.00
Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Characteristics As of 02/27/24

Return on Equity 23.60%
Weighted Avg. Market Cap 981,267 M
2023 2024
Price-to-earnings 29.47 25.37
Price-to-book value 6.60 5.50

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 01/31/24

Versus Beta
S&P 500 0.38
NASDAQ-100 0.33
MSCI EAFE 0.32
MSCI Emg. Mkts 0.25
Standard Deviation 8.90%

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.