Global X NASDAQ 100 Covered Call ETF
ALTAR
Score™		 3.7% info Recommen-
dation		 UNDERWEIGHT
2025E    2026E
P/E
ratio		 32.4x P/Sales
ratio		 6.4x
P/BV
ratio		 7.4x Div.
yield		 0.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Global X Nasdaq-100 Covered Call ETF tracks an index that holds Nasdaq 100 stocks and sells options on those stocks to collect the premiums.

FUND BASICS
Category US Equities
Fund Sponsor Global X
Website us.horizonsetfs.com
Inception date Dec 11, 2013
Assets (mns) $8,010
Currency USD
Expense ratio 60 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Fixed
Index replication Full
Uses derivatives Yes
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 101
Wgt avg mkt cap (mns) $1,849,920
Large cap (>$10bn) 100.0%
Mid cap ($2-10bn) 0.0%
Small cap (<$2bn) 0.0%
Developed mkts 99.5%
Emerging mkts 0.6%

TOP TEN HOLDINGS
NVIDIA CORP 10.0 %
APPLE INC 9.3 %
MICROSOFT CORP 8.1 %
BROADCOM INC. 6.1 %
AMAZON.COM INC 5.4 %
ALPHABET INC. CLASS A 4.0 %
ALPHABET INC. CLASS C 3.8 %
TESLA MOTORS INC 3.3 %
META PLATFORMS INC 3.0 %
NETFLIX INC 2.5 %
Total 55.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.0 %
BRITAIN 1.7 %
CANADA 1.4 %
NETHERLANDS 0.7 %
ARGENTINA 0.6 %
CHINA 0.4 %
AUSTRALIA 0.1 %




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.
6.9% 8.9% 7.4% 8.5% 8.0%

Market Correlations
versus... Beta R-squared
S&P500 0.55 61%
MSCI EAFE 0.29 19%
MSCI Emg. Mkts. 0.24 13%

Technical Indicators
Recent close $17.47
30d moving avg. $17.22
Annualized volatility 8.9%
Short interest (ETF) 1.9%
Short interest (Underlying) 1.7%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 7,809
Turnover 1.7%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $153,217

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 32 potential alternatives to the Global X NASDAQ 100 Covered Call ETF ETF based on the alternatives' overlap in portfolio holdings with QYLD. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: QYLD Expense: 60 bp ALTAR Score™: 3.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH QYLD
Ticker Fund
Name		 Overlap1
vs QYLD
(%)		 Expense
ratio
(bp)		 Savings
vs QYLD
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs QYLD
(%)
QRMI Global X NASDAQ 100 Risk Managed Income ETF 102.7 60 0 3.7 +0.0
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 101.9 60 0 3.7 +0.0
QTR Global X NASDAQ 100 Tail Risk ETF 99.3 26 34 4.1 +0.4
QCLR Global X NASDAQ 100 Collar 95-110 ETF 98.6 25 35 4.0 +0.4
NUSI Nationwide Nasdaq-100 Risk-Managed Income ETF 92.0 68 -8 3.7 +0.0
JEPQ J.P. Morgan Nasdaq Equity Premium Income ETF 78.3 35 25 3.9 +0.3
FTQI First Trust Nasdaq BuyWrite Income ETF 63.3 75 -15 3.6 -0.1
XYLD Global X S&P 500 Covered Call ETF 53.2 60 0 4.3 +0.6
XRMI Global X S&P 500 Risk Managed Income ETF 52.8 60 0 4.3 +0.7
XYLG Global X S&P 500 Covered Call & Growth ETF 52.4 60 0 4.3 +0.7
PBP Invesco S&P 500 BuyWrite ETF 52.3 49 11 4.4 +0.7
XTR Global X S&P 500 Tail Risk ETF 51.5 26 34 4.7 +1.0
XCLR Global X S&P 500 Collar 95-110 ETF 51.2 25 35 4.7 +1.0
ACIO Aptus Collared Investment Opportunity ETF 50.9 79 -19 4.0 +0.3
EFIV State Street SPDR S&P 500 ESG ETF 49.5 10 50 5.0 +1.4
MMLG First Trust Multi-Manager Large Growth ETF 48.6 85 -25 2.0 -1.7
SFLR Innovator Equity Managed Floor ETF 47.4 89 -29 3.8 +0.1
GARP iShares MSCI USA Quality GARP ETF 44.3 15 45 3.9 +0.3
FTHI First Trust BuyWrite Income ETF 43.5 75 -15 4.7 +1.1
TYLG Global X Information Technology Covered Call & Growth ETF 38.0 60 0 3.9 +0.2
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF 31.2 58 2 3.0 -0.7
THNQ ROBO Global Artificial Intelligence ETF 25.1 68 -8 2.4 -1.3
XVOL Acruence Active Hedge U.S. Equity ETF 21.1 83 -23 4.1 +0.4
CCOR Core Alternative ETF 19.9 107 -47 5.1 +1.5
DJIA Global X Dow 30 Covered Call ETF 18.3 60 0 4.9 +1.3
DYLG Global X Dow 30 Covered Call & Growth ETF 18.1 60 0 5.0 +1.3
SIXH ETC 6 Meridian Hedged Equity Index Option ETF 18.1 82 -22 6.7 +3.0
LCG Sterling Capital Focus Equity ETF 15.0 59 1 3.0 -0.6
DIVO Amplify CWP Enhanced Dividend Income ETF 12.8 55 5 4.7 +1.1
QUSA VistaShares Target 15 USA Quality Income ETF 9.3 95 -35 0.0 -3.7
KNG FT Vest S&P 500 Dividend Aristocrats Target Income ETF 3.8 75 -15 5.9 +2.2
IDVO Amplify International Enhanced Dividend Income ETF 0.8 65 -5 5.1 +1.5

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

  2020 2021 2022 2023 2024 2025E 2026E
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
  2024 2025E 2026E
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 Covered Call 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 25.6 %
Divided by: Fwd. P/BV 6.0 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 3.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.53 CATEGORY
AVERAGE		 1.58
 
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.