QRMI vs. QNDX

Last updated Jul 17, 2026

QRMI (Global X NASDAQ 100 Risk Managed Income ETF) and QNDX (SPDR Portfolio Nasdaq 100 ETF) are both Nasdaq-100 funds. QRMI is actively managed, while QNDX is passively managed. Their correlation of 0.94 suggests significant overlap in exposure. QRMI charges 0.60%/yr vs 0.10%/yr for QNDX.

Performance

QRMI vs. QNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X NASDAQ 100 Risk Managed Income ETF (QRMI) and SPDR Portfolio Nasdaq 100 ETF (QNDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QRMI

• 1D: -1.52%
• 1M: -2.06%
• 6M: -0.36%
• YTD: 0.70%
• 1Y: 6.74%
• 3Y*: 5.96%
• 5Y*: —
• 10Y*: —

QNDX

• 1D: -1.56%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

QRMI vs. QNDX - Yearly Performance Comparison

	2026 (YTD)
QRMI Global X NASDAQ 100 Risk Managed Income ETF	-1.71%
QNDX SPDR Portfolio Nasdaq 100 ETF	-1.16%

Correlation

The correlation between QRMI and QNDX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 24, 2026	0.94

Return for Risk

QRMI vs. QNDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QRMI

QRMI Risk / Return Rank: 35
QRMI Sharpe Ratio Rank: 34
QRMI Sortino Ratio Rank: 31
QRMI Omega Ratio Rank: 35
QRMI Calmar Ratio Rank: 32
QRMI Martin Ratio Rank: 44

QNDX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QRMI vs. QNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X NASDAQ 100 Risk Managed Income ETF (QRMI) and SPDR Portfolio Nasdaq 100 ETF (QNDX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	QRMI	QNDX	Difference
Sharpe ratio: Return per unit of total volatility	1.02	—	—
Sortino ratio: Return per unit of downside risk	1.38	—	—
Omega ratio: Gain probability vs. loss probability	1.20	—	—
Calmar ratio: Return relative to maximum drawdown	1.34	—	—
Martin ratio: Return relative to average drawdown	5.66	—	—

Drawdowns

QRMI vs. QNDX - Drawdown Comparison

The maximum QRMI drawdown since its inception was -20.95%, which is greater than QNDX's maximum drawdown of -4.09%. Use the drawdown chart below to compare losses from any high point for QRMI and QNDX.

Drawdown Indicators

	QRMI	QNDX	Difference
Max Drawdown Largest peak-to-trough decline	-20.95%	-4.09%	-16.86%
Max Drawdown (1Y) Largest decline over 1 year	-5.04%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-8.43%	—	—
Current Drawdown Current decline from peak	-2.81%	-4.09%	+1.28%
Average Drawdown Average peak-to-trough decline	-7.81%	-1.91%	-5.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.19%	—	—

Volatility

Volatility by Period

	QRMI	QNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.15%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.63%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.61%	22.37%	-15.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.40%	22.37%	-13.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.40%	22.37%	-13.97%

QRMI vs. QNDX - Expense Ratio Comparison

QRMI has a 0.60% expense ratio, which is higher than QNDX's 0.10% expense ratio.

Dividends

QRMI vs. QNDX - Dividend Comparison

QRMI's dividend yield for the trailing twelve months is around 12.55%, while QNDX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
QNDX SPDR Portfolio Nasdaq 100 ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QRMI Global X NASDAQ 100 Risk Managed Income ETF	12.55%	12.28%	11.80%	12.44%	10.65%	3.36%

Frequently Asked Questions

Can I hold both QRMI and QNDX in my portfolio?

With a correlation of 0.94, QRMI and QNDX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, QRMI or QNDX?

On fees, QNDX is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QRMI or QNDX?

QNDX is cheaper with a 0.10% expense ratio, compared with 0.60% for QRMI.

Which ETF pays a higher dividend yield, QRMI or QNDX?

QRMI has the higher dividend yield at 12.55%, compared with 0.00% for QNDX.

What is the main difference between QRMI and QNDX?

They also come from different issuers: Global X and State Street. Their fees differ too: 0.60% for QRMI and 0.10% for QNDX.