Global X NASDAQ 100 Tail Risk ETF
ALTAR
Score™		 5.2% info Recommen-
dation		 UNDERWEIGHT
2023E    2024E
P/E
ratio		 27.2x P/Sales
ratio		 4.4x
P/BV
ratio		 7.0x Div.
yield		 0.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
QTR tracks an index of NASDAQ 100 stocks and aims to protect the fund from significant negative movements or tail risk by purchasing quarterly Index put options.

FUND BASICS
Category US Equities
Fund Sponsor Global X
Website www.globalxetfs.com/funds/qtr/
Inception date Aug 25, 2021
Assets (mns) $2
Currency USD
Expense ratio 26 bp
Distributions Semi-annual

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Fixed
Index replication
Uses derivatives Yes
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 101
Wgt avg mkt cap (mns) $917,818
Large cap (>$10bn) 99.9%
Mid cap ($2-10bn) 0.1%
Small cap (<$2bn) 0.0%
Developed mkts 99.3%
Emerging mkts 0.7%

TOP TEN HOLDINGS
APPLE INC 11.1 %
MICROSOFT CORP 10.3 %
AMAZON.COM INC 5.6 %
NVIDIA CORP 4.6 %
META PLATFORMS INC 3.9 %
BROADCOM INC. 3.2 %
ALPHABET INC. CLASS A 3.0 %
ALPHABET INC. CLASS C 3.0 %
TESLA MOTORS INC 2.8 %
ADOBE SYSTEMS INC 2.2 %
Total 49.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.0 %
NETHERLANDS 0.9 %
CHINA 0.7 %
ARGENTINA 0.6 %
BRITAIN 0.5 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
38.0% 25.5% -- -- -0.2%

Market Correlations
versus... Beta R-squared
S&P500 0.91 74%
MSCI EAFE 0.73 44%
MSCI Emg. Mkts. 0.63 33%

Technical Indicators
Recent close $25.00
30d moving avg. $23.22
Annualized volatility 20.9%
Short interest (ETF) 4.6%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 1
Turnover 1.7%
Bid/Ask (% of price) 0.43%
ADV underlying (mns) $77,477

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 36 potential alternatives to the Global X NASDAQ 100 Tail Risk ETF ETF based on the alternatives' overlap in portfolio holdings with QTR. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: QTR Expense: 26 bp ALTAR Score™: 5.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH QTR
Ticker Fund
Name		 Overlap1
vs QTR
(%)		 Expense
ratio
(bp)		 Savings
vs QTR
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs QTR
(%)
QRMI Global X NASDAQ 100 Risk Managed Income ETF 99.7 60 -34 5.1 -0.1
QYLD Global X NASDAQ 100 Covered Call ETF 99.7 60 -34 5.1 -0.2
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 99.6 60 -34 4.8 -0.4
QCLR Global X NASDAQ 100 Collar 95-110 ETF 99.5 25 1 5.1 -0.1
NUSI Nationwide Risk-Managed Income ETF 99.4 68 -42 4.7 -0.6
QYLE Global X Nasdaq 100 ESG Covered Call ETF 86.3 60 -34 5.4 +0.1
JEPQ J.P. Morgan Nasdaq Equity Premium Income ETF 67.9 35 -9 5.1 -0.1
FTQI First Trust Nasdaq BuyWrite Income ETF 61.7 85 -59 4.3 -0.9
XYLE Global X S&P 500 ESG Covered Call ETF 50.1 60 -34 5.3 +0.1
EFIV SPDR S&P 500 ESG ETF 49.6 10 16 5.6 +0.4
STLG iShares Factors US Growth Style ETF 47.9 25 1 5.9 +0.7
PBP Invesco S&P 500 BuyWrite ETF 45.6 49 -23 5.5 +0.3
XYLD Global X S&P 500 Covered Call ETF 45.5 60 -34 5.4 +0.2
XRMI Global X S&P 500 Risk Managed Income ETF 45.4 60 -34 5.5 +0.3
XYLG Global X S&P 500 Covered Call & Growth ETF 45.1 60 -34 5.2 -0.0
XTR Global X S&P 500 Tail Risk ETF 44.9 26 0 5.6 +0.4
XCLR Global X S&P 500 Collar 95-110 ETF 44.8 25 1 5.7 +0.5
SFLR Innovator Equity Managed Floor ETF 43.5 89 -63 4.7 -0.5
MMLG First Trust Multi-Manager Large Growth ETF 43.0 85 -59 2.7 -2.5
ACIO Aptus Collared Income Opportunity ETF 42.9 79 -53 4.8 -0.4
TYLG Global X Information Technology Covered Call & Growth ETF 37.8 60 -34 5.2 0.0
FTHI First Trust High Income ETF 36.1 85 -59 5.6 +0.3
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF 30.8 82 -56 7.1 +1.9
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF 28.6 58 -32 3.3 -1.9
THNQ ROBO Global Artificial Intelligence ETF 20.2 68 -42 2.0 -3.2
CCOR Core Alternative ETF 16.5 107 -81 5.5 +0.3
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 14.8 55 -29 6.2 +1.0
DJIA Global X Dow 30 Covered Call ETF 14.7 60 -34 6.0 +0.8
DYLG Global X Dow 30 Covered Call & Growth ETF 14.6 60 -34 5.8 +0.5
LCG Sterling Capital Focus Equity ETF 14.1 59 -33 5.0 -0.2
XVOL Acruence Active Hedge U.S. Equity ETF 10.9 83 -57 5.4 +0.2
HYLG Global X Health Care Covered Call & Growth ETF 5.8 60 -34 7.3 +2.1
KNG FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 2.8 75 -49 6.2 +0.9
GRES IQ Global Resources ETF 1.6 30 -4 8.2 +3.0
IDVO Amplify International Enhanced Dividend Income ETF 1.4 65 -39 8.3 +3.0
FYLG Global X Financials Covered Call & Growth ETF 0.5 60 -34 6.1 +0.8

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2018 2019 2020 2021 2022 2023E 2024E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2022 2023E 2024E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 Global X NASDAQ 100 Tail Risk ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

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™


Calculation of ALTAR Score™
Avg. Return on Equity 28.0 %
Divided by: Fwd. P/BV 5.1 x
Less: Expense ratio 26 bp
Equals: ALTAR Score 5.2 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.40 CATEGORY
AVERAGE		 1.49
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.