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 04/22/24

Inception Date 08/25/21
Total Expense Ratio 0.61%
Net Assets $12.68 million
NAV $16.69
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 04/22/24

Ticker QRMI
Bloomberg Index Ticker NQRMII
CUSIP 37960A503
ISIN US37960A5039
Primary Exchange Nasdaq
Shares Outstanding 760,000
Number of Holdings 105
30-Day Median Bid-Ask Spread 0.29%

Distributions As of 04/22/24

30-Day SEC Yield 0.26%
12-Month Trailing Yield 14.48%
Distribution Yield 12.18%
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 04/22/24

NAV $16.69 Daily Change -$0.09 -0.54%
Market Price $16.71 Daily Change -$0.05 -0.30%

Performance History

As of recent month & quarter-end (03/31/24)
As of recent month & quarter-end (03/31/24)
Fund NAV Market Price Index
1 Year 8.80% 8.93% 9.57%
Since Inception -2.55% -2.47% -2.42%
1 Year 8.80% 8.93% 9.57%
Since Inception -2.55% -2.47% -2.42%
Year-to-Date 4.81% 4.99% 5.26%
1 Month 1.52% 1.52% 1.64%
3 Months 4.81% 4.99% 5.26%
Since Inception -6.50% -6.29% -6.17%
Year-to-Date 4.81% 4.99% 5.26%
1 Month 1.52% 1.52% 1.64%
3 Months 4.81% 4.99% 5.26%
Since Inception -6.50% -6.29% -6.17%

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 04/22/24

Nasdaq 100 Price 17,210.90 Nasdaq 100 Mini Price 3,442.18

Upside Cap Details

Option Positions Notional Exposure Strike Upside Before Cap Expiration Date Calendar Days to Expiry
Short NASDAQ Call Option -$10,326,531 17250 0.23% 05/17/2024 25
Short NASDAQ 100 Reduced Value Call Option -$2,409,524 3400 0.00% 05/17/2024 25

Downside Floor Details

Option Positions Notional Exposure Strike Downside Before Floor Expiration Date Calendar Days to Expiry
Long NASDAQ Put Option $10,326,531 16375 -4.86% 05/17/2024 25
Long NASDAQ 100 Reduced Value Put Option $2,409,524 3270 -5.00% 05/17/2024 25

Top Holdings As of 04/22/24

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
8.99 MSFT MICROSOFT CORP 2588173 400.96 2,845 1,140,731.20
7.73 AAPL APPLE INC 2046251 165.84 5,913 980,611.92
6.00 NVDA NVIDIA CORP 2379504 795.18 957 760,987.26
5.56 AMZN AMAZON.COM INC 2000019 177.23 3,977 704,843.71
5.09 META META PLATFORMS INC B7TL820 481.73 1,340 645,518.20
4.42 AVGO BROADCOM INC BDZ78H9 1,224.46 458 560,802.68
2.78 GOOGL ALPHABET INC-CL A BYVY8G0 156.28 2,256 352,567.68
2.70 GOOG ALPHABET INC-CL C BYY88Y7 157.95 2,171 342,909.45
2.48 COST COSTCO WHOLESALE CORP 2701271 715.46 439 314,086.94
2.07 TSLA TESLA INC B616C79 142.05 1,845 262,082.25
1.89 PEP PEPSICO INC 2681511 176.46 1,359 239,809.14
1.87 AMD ADVANCED MICRO DEVICES 2007849 148.64 1,597 237,378.08
1.87 NFLX NETFLIX INC 2857817 554.60 428 237,368.80
1.68 LIN LINDE PLC BNZHB81 446.97 476 212,757.72
1.65 ADBE ADOBE INC 2008154 466.89 447 208,699.83
1.52 CSCO CISCO SYSTEMS INC 2198163 48.14 4,002 192,656.28
1.50 TMUS T-MOBILE US INC B94Q9V0 162.36 1,173 190,448.28
1.39 QCOM QUALCOMM INC 2714923 160.18 1,103 176,678.54
1.33 INTU INTUIT INC 2459020 609.77 277 168,906.29
1.25 CMCSA COMCAST CORP-CLASS A 2044545 40.57 3,916 158,872.12
1.23 AMAT APPLIED MATERIALS INC 2046552 189.46 821 155,546.66
1.16 TXN TEXAS INSTRUMENTS INC 2885409 163.43 899 146,923.57
1.14 CASH 1.00 144,958 144,958.02
1.14 AMGN AMGEN INC 2023607 271.91 530 144,112.30
1.13 INTC INTEL CORP 2463247 34.41 4,178 143,764.98
1.01 ISRG INTUITIVE SURGICAL INC 2871301 368.93 346 127,649.78
0.99 HON HONEYWELL INTL 2020459 195.58 644 125,953.52
0.94 MU MICRON TECHNOLOGY INC 2588184 109.12 1,091 119,049.92
0.93 BKNG BOOKING HOLDINGS INC BDRXDB4 3,463.00 34 117,742.00
0.88 LRCX LAM RESEARCH CORP 2502247 868.07 129 111,981.03
0.80 VRTX VERTEX PHARM 2931034 399.92 255 101,979.60
0.79 ADP AUTOMATIC DATA PROCESSING 2065308 246.31 406 100,001.86
0.78 SBUX STARBUCKS CORP 2842255 88.18 1,118 98,585.24
0.76 REGN REGENERON PHARMACEUTICALS 2730190 900.16 107 96,317.12
0.73 MDLZ MONDELEZ INTER-A B8CKK03 69.41 1,330 92,315.30
0.71 ADI ANALOG DEVICES INC 2032067 186.31 486 90,546.66
0.71 PANW PALO ALTO NETWORKS INC B87ZMX0 281.68 319 89,855.92
0.66 KLAC KLA CORP 2480138 633.64 133 84,274.12
0.65 GILD GILEAD SCIENCES INC 2369174 66.95 1,230 82,348.50
0.65 PDD PDD HOLDINGS INC BYVW0F7 124.14 660 81,932.40
0.61 SNPS SYNOPSYS INC 2867719 515.49 151 77,838.99
0.60 CDNS CADENCE DESIGN SYS INC 2302232 285.02 267 76,100.34
0.58 ASML ASML HOLDING-NY B908F01 872.05 85 74,124.25
0.54 MELI MERCADOLIBRE INC B23X1H3 1,368.23 50 68,411.50
0.54 ABNB AIRBNB INC-CLASS A BMGYYH4 156.61 434 67,968.74
0.53 MAR MARRIOTT INTL-A 2210614 237.41 283 67,187.03
0.52 CSX CSX CORP 2160753 34.62 1,917 66,366.54
0.52 PYPL PAYPAL HOLDINGS INC BYW36M8 63.19 1,048 66,223.12
0.52 CTAS CINTAS CORP 2197137 665.00 99 65,835.00
0.51 CRWD CROWDSTRIKE HO-A BJJP138 289.15 223 64,480.45
0.50 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 1,091.46 58 63,304.68
0.48 NDX US 05/17/24 P16375 10,105.00 6 60,630.00
0.46 PCAR PACCAR INC 2665861 112.58 521 58,654.18
0.45 ROP ROPER TECHNOLOGIES INC 2749602 539.11 106 57,145.66
0.45 CEG CONSTELLATION ENERGY BMH4FS1 183.22 309 56,614.98
0.44 MNST MONSTER BEVERAGE CORP BZ07BW4 53.60 1,035 55,476.00
0.44 NXPI NXP SEMICONDUCTORS NV B505PN7 218.66 253 55,320.98
0.43 MRVL MARVELL TECHNOLOGY INC BNKJSM5 62.88 857 53,888.16
0.41 WDAY WORKDAY INC-CLASS A B8K6ZD1 253.53 204 51,720.12
0.40 CPRT COPART INC 2208073 53.30 955 50,901.50
0.40 DXCM DEXCOM INC B0796X4 131.52 383 50,372.16
0.37 FTNT FORTINET INC B5B2106 63.69 745 47,449.05
0.37 DASH DOORDASH INC - A BN13P03 127.27 369 46,962.63
0.37 ADSK AUTODESK INC 2065159 217.13 213 46,248.69
0.36 ODFL OLD DOMINION FREIGHT LINE 2656423 211.59 216 45,703.44
0.36 KHC KRAFT HEINZ CO/THE BYRY499 38.15 1,182 45,093.30
0.35 MCHP MICROCHIP TECHNOLOGY INC 2592174 83.53 537 44,855.61
0.35 ROST ROSS STORES INC 2746711 133.77 335 44,812.95
0.35 AEP AMERICAN ELECTRIC POWER 2026242 84.90 522 44,317.80
0.35 KDP KEURIG DR PEPPER INC BD3W133 31.76 1,387 44,051.12
0.34 PAYX PAYCHEX INC 2674458 121.23 360 43,642.80
0.34 LULU LULULEMON ATHLETICA INC B23FN39 361.79 119 43,053.01
0.32 AZN ASTRAZENECA PLC-SPONS ADR 2989044 70.13 579 40,605.27
0.31 MRNA MODERNA INC BGSXTS3 104.46 372 38,859.12
0.31 IDXX IDEXX LABORATORIES INC 2459202 479.57 81 38,845.17
0.30 FAST FASTENAL CO 2332262 67.45 568 38,311.60
0.30 GEHC GE HEALTHCARE TECHNOLOGY BL6JPG8 84.31 452 38,108.12
0.30 CHTR CHARTER COMMUN-A BZ6VT82 265.08 142 37,641.36
0.29 EXC EXELON CORP 2670519 37.67 986 37,142.62
0.29 DDOG DATADOG INC - CLASS A BKT9Y49 122.07 300 36,621.00
0.28 FANG DIAMONDBACK ENERGY INC B7Y8YR3 202.58 173 35,046.34
0.27 TTD TRADE DESK INC-A BD8FDD1 77.84 443 34,483.12
0.27 CSGP COSTAR GROUP INC 2262864 85.31 403 34,379.93
0.27 CTSH COGNIZANT TECH-A 2257019 68.20 498 33,963.60
0.26 EA ELECTRONIC ARTS INC 2310194 127.12 259 32,924.08
0.26 BKR BAKER HUGHES CO BDHLTQ5 32.46 995 32,297.70
0.25 VRSK VERISK ANALYTICS INC B4P9W92 223.17 144 32,136.48
0.25 CDW CDW CORP/DE BBM5MD6 237.64 134 31,843.76
0.24 CCEP COCA-COLA EUROPA BYQQ3P5 69.10 443 30,611.30
0.24 XEL XCEL ENERGY INC 2614807 54.96 546 30,008.16
0.23 TEAM ATLASSIAN CORP-CL A BQ1PC76 194.27 153 29,723.31
0.22 BIIB BIOGEN INC 2455965 194.11 144 27,951.84
0.22 ANSS ANSYS INC 2045623 324.81 85 27,608.85
0.21 DLTR DOLLAR TREE INC 2272476 121.69 216 26,285.04
0.21 ON ON SEMICONDUCTOR 2583576 60.65 428 25,958.20
0.20 ZS ZSCALER INC BZ00V34 170.97 147 25,132.59
0.19 GFS GLOBALFOUNDRIES INC BMW7F63 46.37 531 24,622.47
0.19 MDB MONGODB INC BF2FJ99 340.16 71 24,151.36
0.19 TTWO TAKE-TWO INTERAC 2122117 139.96 172 24,073.12
0.16 WBD WARNER BROS DISCOVERY INC BM8JYX3 8.47 2,407 20,387.29
0.15 ILMN ILLUMINA INC 2613990 120.25 153 18,398.25
0.12 WBA WALGREENS BOOTS BTN1Y44 18.22 827 15,067.94
0.11 NQX US 05/17/24 P3270 1,990.00 7 13,930.00
0.09 SIRI SIRIUS XM HOLDINGS INC BGLDK10 3.13 3,672 11,493.36
-0.56 NQX US 05/17/24 C3400 10,205.00 -7 -71,435.00
-1.02 OTHER PAYABLE & RECEIVABLES 1.00 -128,865 -128,864.76
-1.70 NDX US 05/17/24 C17250 35,820.00 -6 -214,920.00
Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Characteristics As of 04/22/24

Return on Equity 23.50%
Weighted Avg. Market Cap 1,046,000 M
2023 2024
Price-to-earnings 29.81 25.65
Price-to-book value 6.64 5.52

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 03/31/24

Versus Beta
S&P 500 0.38
NASDAQ-100 0.33
MSCI EAFE 0.33
MSCI Emg. Mkts 0.26
Standard Deviation 8.80%

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.