At a glance
QRMI charges 0.6% a year, above the 0.52% average of the 8 funds most like it (the 5th cheapest of 9). It has $14.3M in assets, the 7th largest of that group; it paid 12.4% of its price in distributions over the past 12 months, monthly. Over the past year it returned +5.1% with distributions reinvested (S&P 500: +11.5%), 7th of those 9 funds; over three years it returned +9.2% a year. At its worst it fell 17.7% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 25 months after the low. Its ten largest positions make up 46.9% of the fund, out of 103 in all.
The short version
Global X NASDAQ 100 Risk Managed Income ETF (QRMI) holds the Nasdaq-100 stocks and wraps them in a monthly options “collar”: it sells call options at the index's level and spends part of that premium on put options about 5% lower. Its 12-month yield was 12.4% as of October 27, 2026, paid monthly. But it gives up nearly all of the index's monthly gains, and the fund still lost about 18.5% in 2022.
Price history
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QRMI +5.1% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| QRMI official prospectus, to Dec 31, 2025 | — | +3.88% | — | — | — | +1.37% |
| QRMI price data to Oct 27, 2026 | +3.5% | +5.1% | +9.2% | +2.1% | — | +1.8% |
- Over the year to Oct 27, 2026, QRMI returned +5.1%, 7th of 9 among similar funds.
- Its 5-year annualized return was +2.1%.
- Its worst full calendar year was 2022 (-18.5%); its best was 2024 (+14.7%).
- The deepest fall in its price history was 21% (Sep 16, 2021 to Dec 28, 2022), recovered by Dec 20, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +3.5% | — |
| 2025 | +3.7% | +3.88% |
| 2024 | +14.7% | +14.50% |
| 2023 | +11.6% | +11.45% |
| 2022 | -18.5% | -18.49% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 17.5% over that stretch · deepest drop along the way 17.7%, back to its old high 24.9 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.5400 | |
| 2025 | $1.9600 | -4.9% |
| 2024 | $2.0600 | -2.4% |
| 2023 | $2.1100 | +14.7% |
| 2022 | $1.8400 |
What's inside
As of Jul 31, 2026, the fund held 103 securities; the ten largest made up 46.92% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA CORPORATION | 8.14% | |
| APPLE INC. | 7.60% | |
| MICROSOFT CORPORATION | 5.78% | |
| AMAZON.COM, INC. | 4.90% | |
| MICRON TECHNOLOGY, INC. | 4.29% | |
| ADVANCED MICRO DEVICES, INC. | 3.60% | |
| ALPHABET INC. | 3.47% | |
| ALPHABET INC. | 3.26% | |
| BROADCOM INC. | 3.10% | |
| META PLATFORMS, INC. | 2.77% | |
| TESLA, INC. | 2.60% | |
| WALMART INC. | 2.51% | |
| CISCO SYSTEMS, INC. | 2.12% | |
| INTEL CORPORATION | 2.10% | |
| COSTCO WHOLESALE CORPORATION | 1.96% |
By country
United States 100.85%By asset type
Stocks 100.85%By sector
Sectors of the companies held, for the 90.5% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors withdrew a net $3.1M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -2.69%, +1.22%, +1.72%.
How it works
QRMI tracks the Nasdaq-100 Monthly Net Credit Collar 95-100 Index. Nasdaq, Inc. sponsors the index and is independent of the fund's adviser, Global X. The fund holds the Nasdaq-100 stocks: the 100 largest non-financial companies on the Nasdaq Stock Market, weighted by market value with caps on the biggest names. As of July 31, 2026, NVIDIA (8.1%), Apple (7.6%) and Microsoft (5.8%) were the largest holdings, and technology made up about 52.5% of assets.
Every month the fund buys put options. These contracts gain value if the Nasdaq-100 falls below a set “strike” price, here about 5% under the index. It also sells call options struck at the index's level, which hands the buyer any gain above that point. The calls bring in more than the puts cost, a “net credit” that adds to income. The options are exchange-listed, settled in cash and held until they expire the next month.
Within each month the trade-off is lopsided. The fund gives up any gain above the month's starting level and keeps the net premium. On the way down, it absorbs roughly the first 5% of a fall before the puts pay off. In the prospectus example, a 15% monthly drop would leave the puts worth about 10% of the portfolio. Because the protection resets monthly, losses can stack up over several bad months, as they did in 2022.
What it really costs
- QRMI charges 0.6% a year, versus an average of 0.52% for the similar funds below (5th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $61 in the first year and $750 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| QRMI | $61 | $192 | $335 | $750 |
Structure and tax notes
- Generates much of its income from selling options (directly or through notes). That income is usually taxed as ordinary income rather than as qualified dividends, and the strategy gives up some upside in strong markets.
In a retirement portfolio
Its main draw is monthly income from options, with a 12-month yield of 12.4% as of October 27, 2026, rather than growth or full downside protection.
QRMI launched in August 2021, so it has no record from the 2008 or 2020 crashes. It fell 17.7% in the 2022 bear market. Its deepest drop, 21% through December 2022, took about two years to recover. Its worst calendar year was 2022, a loss of about 18.5%. The collar softened swings but did not stop that long slide, so selling shares for spending in 2022 would have locked in losses.
The draw is income: a 12-month yield of 12.4% as of October 27, 2026, paid monthly. Option income is usually taxed as ordinary income. Total return has been far lower, averaging 1.37% a year from launch through December 31, 2025. The fund costs 0.60% a year, or $61 in the first year on $10,000 in the SEC's standard example. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Retirees seeking monthly income from Nasdaq-100 stocks who accept giving up most monthly gains for a 12.4% yield as of October 27, 2026.
- Investors who value smaller swings: as of October 27, 2026, one-year volatility was 6.7% and beta, a gauge of market sensitivity, was 0.41.
- Those wanting put options to cushion monthly Nasdaq-100 drops beyond about 5%, held in IRAs where ordinary-income tax on option income matters less.
Look elsewhere if
- Growth-focused investors: QRMI returned 5.1% in the year to October 27, 2026, versus 18.9% for its covered-call sibling QYLD.
- Anyone needing firm crash protection: the puts reset monthly, and the fund still fell 21% from September 2021 to December 2022.
- Cost-conscious investors: the 0.60% expense ratio tops the 0.52% peer average. GPIQ charges 0.29% and Global X's QCLR collar fund 0.25%.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| QRMI this fund | — | 0.6% | $14.3M | +5.1% | +9.2% |
| QYLD Global X NASDAQ 100 Covered Call ETF | 101% | 0.6% | $8.09B | +18.9% | +17.4% |
| QYLG Global X Nasdaq 100 Covered Call & Growth E… | 100% | 0.35% | $158.3M | +17.3% | +23.1% |
| QCLR Global X NASDAQ 100 Collar 95-110 ETF | 96% | 0.25% | $3.3M | -0.6% | +15.2% |
| QHDG Innovator Hedged Nasdaq-100 ETF | 94% | 0.79% | $3.0M | +1.1% | — |
| QQQI NEOS Nasdaq 100 High Income ETF | 92% | 0.68% | $13.11B | +5.8% | — |
| SEPQ STF Tactical Growth & Income ETF | 90% | 0.65% | $80.1M | +14.2% | +24.1% |
| GPIQ Nasdaq-100 Core Premium Income ETF | 90% | 0.29% | $5.11B | +16.1% | +25.6% |
Questions investors ask
Is QRMI good for retirement income?
It can supply monthly income but little growth. QRMI's 12-month yield was 12.4% as of October 27, 2026, yet its total return over the same year was 5.1%. That means the share price fell even as payouts arrived. From its August 2021 launch through December 31, 2025, it averaged 1.37% a year. It may suit retirees who put income and smaller swings ahead of growth. Option income is usually taxed as ordinary income.
Does QRMI pay monthly dividends?
Yes. QRMI pays distributions every month. Over the 12 months to October 27, 2026, it paid about $1.86 a share, a yield of 12.4%. Much of that comes from selling options rather than from company dividends, so it is usually taxed as ordinary income instead of at lower qualified-dividend rates. The amount isn't fixed: option premiums rise and fall with market conditions, so monthly payouts can change.
Does QRMI protect against a market crash?
Only partly. Each month QRMI buys put options about 5% below the Nasdaq-100's level, so it absorbs roughly the first 5% of a monthly fall before the puts pay off. But the protection resets every month, so a string of smaller monthly declines can add up. The fund fell 17.7% in the 2022 bear market. Its deepest drop, 21% from September 2021 to December 2022, took about two years to recover.
What's the difference between QRMI and QYLD?
The main difference is QRMI's put options. Both Global X funds own Nasdaq-100 stocks, earn income by selling call options and charge 0.60% a year. QRMI also buys puts about 5% below the index each month, spending part of its call premium on downside protection. Over the year to October 27, 2026, QRMI returned 5.1% versus 18.9% for QYLD. QYLD is also far larger, with about $8.1 billion in net assets against QRMI's $14.3 million as of July 31, 2026.
What is QRMI's expense ratio?
QRMI's expense ratio is 0.60% a year, according to its prospectus filed February 26, 2026. In the SEC's standard example, $10,000 invested with a 5% annual return would cost about $61 after one year, $335 after five and $750 after 10. That is above the 0.52% average for similar Nasdaq-100 options funds. Nasdaq-100 Core Premium Income ETF (GPIQ) charges 0.29% and Global X's own QCLR charges 0.25%, while QYLD matches QRMI at 0.60%.