At a glance
QTR charges 0.25% a year, below the 0.33% average of the 3 funds most like it (the 3rd cheapest of 4). It has $7.6M in assets, the 4th largest of that group; it paid 16.73% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +8.6% with distributions reinvested (S&P 500: +11.5%), the weakest of those 4 funds; over three years it returned +21.9% a year. At its worst it fell 27.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 14 months after the low. Its ten largest positions make up 45.3% of the fund, out of 103 in all.
The short version
Global X NASDAQ 100 Tail Risk ETF (QTR) tracks the Nasdaq-100 Quarterly Protective Put 90 Index: it holds Nasdaq-100 stocks plus put options, contracts that pay off if the index drops more than about 10% by the time they expire each quarter. That cushion against steep drops sets it apart from Invesco NASDAQ 100 ETF (QQQM), but it costs 0.25% a year versus 0.15%, trims gains in rising markets, and still lost 28.69% in 2022.
Price history
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QTR +8.6% 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 | |
|---|---|---|---|---|---|---|
| QTR official prospectus, to Dec 31, 2025 | — | +14.52% | — | — | — | +9.47% |
| QTR price data to Oct 27, 2026 | +11.6% | +8.6% | +21.9% | +10.5% | — | +10.2% |
- Over the year to Oct 27, 2026, QTR returned +8.6%, 4th of 4 among similar funds.
- Its 5-year annualized return was +10.5%.
- Its worst full calendar year was 2022 (-29.9%); its best was 2023 (+45.5%).
- The deepest fall in its price history was 31.7% (Nov 22, 2021 to Dec 28, 2022), recovered by Dec 18, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +11.6% | — |
| 2025 | +14.6% | +14.52% |
| 2024 | +21.5% | +21.26% |
| 2023 | +45.5% | +45.14% |
| 2022 | -29.9% | -28.69% |
| 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 27.6% over that stretch · deepest drop along the way 27.8%, back to its old high 14.1 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.0400 | |
| 2025 | $5.7100 | +3468.8% |
| 2024 | $0.1600 | +14.3% |
| 2023 | $0.1400 | +100.0% |
| 2022 | $0.0700 |
What's inside
As of Jul 31, 2026, the fund held 103 securities; the ten largest made up 45.27% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA CORPORATION | 7.87% | |
| APPLE INC. | 7.35% | |
| MICROSOFT CORPORATION | 5.59% | |
| AMAZON.COM, INC. | 4.73% | |
| MICRON TECHNOLOGY, INC. | 4.15% | |
| ADVANCED MICRO DEVICES, INC. | 3.46% | |
| ALPHABET INC. | 3.35% | |
| ALPHABET INC. | 3.14% | |
| BROADCOM INC. | 2.98% | |
| META PLATFORMS, INC. | 2.66% | |
| TESLA, INC. | 2.51% | |
| WALMART INC. | 2.41% | |
| CISCO SYSTEMS, INC. | 2.03% | |
| INTEL CORPORATION | 2.02% | |
| COSTCO WHOLESALE CORPORATION | 1.89% |
By country
United States 97.86%By asset type
Stocks 97.86%By sector
Sectors of the companies held, for the 87.8% 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 added a net $4.6M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -6.17%, -0.36%, +10.25%.
How it works
QTR is an index fund: it aims to match the Nasdaq-100 Quarterly Protective Put 90 Index, which Nasdaq, Inc. runs independently of the adviser, Global X Management Company. The fund owns the Nasdaq-100 stocks, the 100 largest non-financial companies on the Nasdaq Stock Market, weighted mainly by company size with caps on the biggest names. As of July 31, 2026, NVIDIA (7.9%), Apple (7.3%) and Microsoft (5.6%) led, and the top 10 made up 45% of assets.
The cushion comes from put options: contracts, purchased for an upfront fee called a premium, that pay off if the Nasdaq-100 ends below a set level, the strike price. Each quarter the fund adds exchange-traded puts with a strike about 10% below the index level, held until they expire and settled in cash. In the prospectus example, a 15% index fall leaves the put worth about 5%, limiting the loss to 10%. As of July 31, 2026, the puts were about 2% of assets.
There are two catches. If the index stays above the strike, the puts expire worthless and the fund trails the plain Nasdaq-100 by the premium. And protection resets quarterly, so investors who enter or exit mid-quarter get a different cushion, and a slide spread across several quarters is not capped: the fund lost 28.69% in 2022.
What it really costs
- QTR charges 0.25% a year, versus an average of 0.33% for the similar funds below (3rd of 4, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $26 in the first year and $318 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| QTR | $26 | $80 | $141 | $318 |
In a retirement portfolio
It holds a tech-heavy set of Nasdaq-100 stocks and, despite its put options, lost 28.69% in 2022, so it fits better as a smaller growth position than as a portfolio anchor.
QTR could add Nasdaq-100 growth with a partial brake on sharp drops. Its record is short: launched August 25, 2021, it missed the 2008 crisis and the 2020 COVID crash. In the 2022 downturn it fell 27.8% and needed 14.1 months from its low to recover, by December 13, 2023. Its worst calendar year was 2022, at -28.69%, and its deepest drop was 31.7%. Retirees drawing cash then would have been cashing out shares near the lows, despite the puts.
Income is hard to predict: payouts over the year to October 27, 2026 equaled a 16.73% yield, paid twice a year, unusually high for these stocks and may not repeat. Costs are 0.25% a year, or $318 over 10 years on $10,000 in the SEC's standard example. Past results don't predict future returns, and a plan needs to look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting Nasdaq-100 stocks such as NVIDIA, Apple and Microsoft, plus quarterly puts that cushion index drops beyond about 10% per option period.
- Holders willing to give up some return in rising markets, when the puts expire worthless, for partial protection against sudden, steep crashes.
- Investors comfortable with tech-heavy swings: about half the fund sits in technology, and it still lost 28.69% in 2022.
Look elsewhere if
- Cost-focused investors: QQQM charges 0.15% versus QTR's 0.25%, and QTR's three-year return ranked last of four similar funds as of late October 2026.
- Retirees needing steady income: payouts come only twice a year, and the 16.73% trailing yield as of October 27, 2026 may not repeat.
- Anyone expecting a hard floor: protection resets quarterly, slow multi-quarter declines aren't capped, and the fund's deepest drop reached 31.7%.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
Net assets from each fund's latest N-PORT or annual report where available. Returns through Oct 27, 2026.Questions investors ask
Does QTR protect against a stock market crash?
Partly. Each quarter it holds put options, contracts that pay off if the Nasdaq-100 ends more than about 10% below its level when they were purchased, so a steep fall within one option period is cushioned beyond that point. The cushion resets quarterly, though, and losses can still build: the fund lost 28.69% in 2022, fell 14% in its worst quarter (ended June 30, 2022), and its deepest drop reached 31.7% before recovering by December 18, 2023.
What's the difference between QTR and QQQM?
QTR adds put options and costs more. Both funds hold largely the same Nasdaq-100 stocks (95% holdings overlap), but QTR's quarterly puts aim to cushion drops of more than about 10%. Invesco NASDAQ 100 ETF (QQQM) charges 0.15% a year versus QTR's 0.25% and is far larger: about $104 billion in net assets as of August 31, 2026, against QTR's $7.6 million as of July 31, 2026. QQQM's one-year return was 10.9% as of October 30, 2026; QTR's was 8.6% as of October 27, 2026.
Does QTR pay dividends?
Yes, twice a year. Payouts over the year to October 27, 2026 totaled $5.67 per share, a trailing yield of 16.73%. That is unusually high for a fund of large growth stocks, so it may not repeat and is a weak guide to future income. The fund aims to track its index's price and yield, not to deliver a set level of income.
What is QTR's expense ratio?
QTR's expense ratio, the annual fee taken as a share of assets, is 0.25%, per its prospectus filed February 26, 2026. In the SEC's standard example ($10,000 invested, 5% annual return, shares redeemed at the end of each period), that works out to $26 after one year, $141 after five and $318 after ten. That is more than QQQM (0.15%) and Invesco QQQ Trust (0.20%), less than STF Tactical Growth ETF (0.65%), and below the 0.33% average of those three funds.
How has QTR performed since it launched?
QTR returned 9.47% a year on average from its August 25, 2021 launch through December 31, 2025, per its prospectus. Calendar-year results were -28.69% in 2022, 45.14% in 2023, 21.26% in 2024 and 14.52% in 2025. Based on market price, it gained 11.6% in 2026 through October 27, and its 21.9% average yearly return over three years trailed all three similar funds, including QQQM's 26.3% as of October 30, 2026.