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
16.0 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) | $16 |
| 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 +
| APPLE INC | 9.3 % |
| MICROSOFT CORP | 8.2 % |
| NVIDIA CORP | 7.8 % |
| BROADCOM INC. | 5.2 % |
| AMAZON.COM INC | 4.9 % |
| META PLATFORMS INC | 4.8 % |
| TESLA MOTORS INC | 2.7 % |
| COSTCO WHOLESALE CORP | 2.7 % |
| ALPHABET INC. CLASS A | 2.6 % |
| ALPHABET INC. CLASS C | 2.5 % |
Constituent Breakdown
| Number of holdings | 101 |
| Herfindahl-Hirschman Index | 367 |
| Wgt avg mkt cap (mns) | $1,047,620 |
| Large cap (>$10bn) | 100.0% |
| Mid cap ($2-10bn) | 0.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 99.3% |
| Emerging mkts. | 0.7% |
Country Exposure
 |
UNITED STATES | 95.5 % |
 |
BRITAIN | 2.2 % |
 |
NETHERLANDS | 1.0 % |
 |
ARGENTINA | 0.7 % |
Historical Performance
Standardized Performance (as of 08/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 6.6% | 10.1% | 7.1% | -- | -- | -- | -1.1% | Volatility | 6.0% | 6.6% | 8.0% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.38 | 67% |
| MSCI EAFE | 0.32 | 45% |
| MSCI Emg Mkts | 0.26 | 29% |
Liquidity Measures
| Avg. volume (000) | 10 |
| Turnover | 1.0% |
| Avg. Bid/Ask (% of price) | 0.32% |
| ADV of underlying (mns) | $136,928 |
Technical Indicators
| Recent close | $16.52 |
| 30d moving avg. | $16.70 |
| Annualized volatility | 8.4% |
| Relative strength (RSI) | 58 |
| Short interest (ETF) | 2.0% |
| Short interest (underlying) | 0.0% |
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. QRMI |
Expenses vs. QRMI |
ALTAR Score™ vs. QRMI |
|---|---|---|---|---|
| QYLD | Global X NASDAQ 100 Covered Call ETF | 101.7% | 0 bp | +0.1% |
| QYLG | Global X Nasdaq 100 Covered Call & Growth ETF | 100.9% | 0 bp | +0.1% |
| QTR | Global X NASDAQ 100 Tail Risk ETF | 99.7% | -34 bp | +0.5% |
| NUSI | Nationwide Nasdaq-100 Risk-Managed Income ETF | 99.5% | +8 bp | -0.1% |
| QCLR | Global X NASDAQ 100 Collar 95-110 ETF | 99.4% | -35 bp | +0.5% |
| QYLE | Global X Nasdaq 100 ESG Covered Call ETF | 87.5% | 0 bp | +0.2% |
| JEPQ | J.P. Morgan Nasdaq Equity Premium Income ETF | 69.4% | -25 bp | +0.4% |
| FTQI | First Trust Nasdaq BuyWrite Income ETF | 55.8% | +15 bp | -0.1% |
| GARP | iShares MSCI USA Quality GARP ETF | 48.2% | -45 bp | +0.7% |
| PBP | Invesco S&P 500 BuyWrite ETF | 48.0% | -11 bp | +0.5% |
Risk and Returns: QRMI 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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 9/6/2024
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
QRMI
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
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
QRMI
4.2%
Cat. Avg
5.8%
ALTAR Score™ Calculation
Category Overview
There are 920 funds in the US Equity category, with an average ALTAR Score™
of 5.8% and a standard deviation of
2.5%. QRMI's ALTAR Score™ is approximately
0.6 standard deviations
below
the category average. This places QRMI in the 27th 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 |
| QRMI (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 | 32.4 | 92.4 |
| Peer Avg. | 44.8 | 16.4 | 61.2 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .