QRMI
Global X NASDAQ 100 Risk Managed Income ETF
QRMI tracks an index that holds NASDAQ 100 stocks while employing an options collar strategy. The fund buys 5% OTM put options and sells ATM covered call options on a monthly basis.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
18.9 M
ASSETS UNDER MGMT
60 bp
EXPENSES
Fund Basics
| Fund sponsor | Global X |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 25, 2021 |
| Assets (mns) | $19 |
| Expense ratio | 60 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Monthly |
| Taxation | 1099 |
| Stock selection | Fixed |
| Weighting | Fixed |
| Holdings Transparency | Full |
| Derivatives-based | Yes |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| NVIDIA CORP | 10.1 % |
| MICROSOFT CORP | 9.4 % |
| APPLE INC | 7.9 % |
| AMAZON.COM INC | 6.0 % |
| BROADCOM INC. | 5.3 % |
| META PLATFORMS INC | 3.9 % |
| NETFLIX INC | 3.3 % |
| TESLA MOTORS INC | 2.9 % |
| COSTCO WHOLESALE CORP | 2.7 % |
| ALPHABET INC. CLASS A | 2.6 % |
Constituent Breakdown
| Number of holdings | 101 |
| Herfindahl-Hirschman Index | 441 |
| Wgt avg mkt cap (mns) | $1,351,875 |
| Large cap (>$10bn) | 104.7% |
| Mid cap ($2-10bn) | 0.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.5% |
| Emerging mkts. | 1.2% |
Country Exposure
 |
UNITED STATES | 100.5 % |
 |
BRITAIN | 2.0 % |
 |
CANADA | 0.8 % |
 |
NETHERLANDS | 0.8 % |
 |
ARGENTINA | 0.7 % |
Historical Performance
Standardized Performance (as of 06/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -8.0% | -4.9% | -5.9% | -6.3% | -- | -- | -- | -10.5% |
| Dividend Yield | 0.9% | 4.9% | 8.4% | 9.6% | -- | -- | -- | 8.8% |
| Total Returns | -7.1% | 0.0% | 2.5% | 3.3% | -- | -- | -- | -1.8% | Ann. Volatility | 10.7% | 9.7% | 8.2% | 8.3% | -- | -- | -- | 9.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.33 | 54% |
| MSCI EAFE | 0.25 | 32% |
| MSCI Emg Mkts | 0.20 | 21% |
Liquidity Measures
| Avg. volume (000) | 10 |
| ADV traded (mns) | $0 |
| Turnover | 0.9% |
| Avg. Bid/Ask (% of price) | 0.32% |
Technical Indicators
| Recent close | $16.03 |
| 30d moving avg. | $16.03 |
| Annualized volatility | 7.2% |
| Relative strength (RSI) | 47 |
| Short interest | 0.3% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| QYLD | Global X NASDAQ 100 Covered Call ETF | 105.4% | 0 bp | +3.7% |
| QYLG | Global X Nasdaq 100 Covered Call & Growth ETF | 102.7% | 0 bp | +3.7% |
| QCLR | Global X NASDAQ 100 Collar 95-110 ETF | 100.7% | -35 bp | +4.1% |
| QTR | Global X NASDAQ 100 Tail Risk ETF | 99.6% | -34 bp | +4.0% |
| NUSI | Nationwide Nasdaq-100 Risk-Managed Income ETF | 95.9% | +8 bp | +3.6% |
| JEPQ | J.P. Morgan Nasdaq Equity Premium Income ETF | 69.4% | -25 bp | +4.1% |
| FTQI | First Trust Nasdaq BuyWrite Income ETF | 59.0% | +15 bp | +3.8% |
| PBP | Invesco S&P 500 BuyWrite ETF | 52.3% | -11 bp | +4.6% |
| XYLD | Global X S&P 500 Covered Call ETF | 52.3% | 0 bp | +4.5% |
| XRMI | Global X S&P 500 Risk Managed Income ETF | 52.2% | 0 bp | +4.6% |
Risk and Returns: vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 7/16/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
QRMI
3.8%
Cat. Avg
5.8%
ALTAR Score™ Calculation
Category Overview
There are 958 funds in the US Equity category, with an average ALTAR Score™
of 5.8% and a standard deviation of
2.3%. QRMI's ALTAR Score™ is approximately
0.9 standard deviations
below
the category average. This places QRMI in the 19th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
QRMISELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| (60 bp) Percentile rank | 66 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| QRMI | 60.0 | 0.0 | 60 |
| Peer Avg. | 42.9 | 16.5 | 59.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .