QQA vs QRMI: Grades, Fees and Holdings Compared

Invesco QQQ Income Advantage ETF

QQAANasdaq

Global X Nasdaq 100 Risk Managed Income ETF

QRMIBNasdaq

Overlap

75.3%by weight

Expense ratio

QQA −0.31pt a year

QQA0.29%QRMI0.60%

Avg volume · 30D

QQA 16.4×the volume

QQA119KQRMI7.22K

QQA vs QRMI Performance

Oct 31, 2025 – Nov 2, 2026

+8.4%QQA+3.1%QRMI

Expense ratio: QQA 0.29%, better; QRMI 0.60%
Fund size: QQA $894M; QRMI $15M
1Y total return: QQA +8.4%, better; QRMI +3.1%
Yield (12M): QQA 10.61%; QRMI 12.69%, better
Holdings: QQA 123; QRMI 104
Avg volume (30D): QQA 119K sh, better; QRMI 7.22K sh
NAV per share: QQA $53.44; QRMI $14.80
52W range

ETF.net Grade

Pillar letters and Scores for QQA, QRMI, with each pillar’s weight
Pillar	QQA	QRMI
Cost30% weight	A92Higher	B65
Mission25% weight	A100Higher	A85
Risk15% weight	B67	B69Higher
Tradability15% weight	B64Higher	C42
Holdings10% weight	B69Higher	B68
Durability5% weight	A74Higher	C50

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. QQA and QRMI are both graded against the same 30 Nasdaq-100 Option Income funds, so their Grades compare head to head.

Nasdaq-100 Option Income⁠

Category · 30 funds

See all 30 ›

QQA ranks 2nd and QRMI 10th of 30 funds in the Nasdaq-100 Option Income Category.

Rank 1AGPIQGoldman Sachs Nasdaq-100 Premium Income ETFScore 84
Rank 2AQQAInvesco QQQ Income Advantage ETFScore 82
Rank 3AJEPQJPMorgan Nasdaq Equity Premium Income ETFScore 79
Rank 10BIQQQProShares Nasdaq-100 High Income ETFScore 66
Rank 10BQRMIGlobal X Nasdaq 100 Risk Managed Income ETFScore 66
Rank 10BTDAQTappAlpha Innovation 100 Growth & Daily Income ETFScore 66

Our read on each fund

ETF.net Research

QQAAInvesco QQQ Income Advantage ETF

QRMIBGlobal X Nasdaq 100 Risk Managed Income ETF

In short

QQA Most Nasdaq-100 income funds write calls on the whole portfolio. QQA overlays options on roughly half, pairs covered calls with cash-secured puts, and ladders them, so a chunk of the index upside stays uncapped.

QRMI Most Nasdaq-100 income funds sell calls and leave the downside wide open. QRMI spends part of that call premium on a protective put, collaring the index every month so the payout arrives with a hedge attached.

Stated mandate

QQA Actively managed QQA combines Nasdaq-100 equity exposure with an options-income overlay. It seeks consistent monthly income, long-term capital growth, and lower volatility without leverage.

QRMI The Fund seeks to track the price and yield performance of the Nasdaq-100 Monthly Net Credit Collar 95-100 Index before fees and expenses. Its strategy combines Nasdaq-100 stocks with a monthly protective put and covered-call collar.

Why people hold it

QQA The income sleeve covers roughly 50% of the portfolio; the rest stays uncapped Nasdaq-100. Premium comes from both covered calls and cash-secured puts, not calls alone.invesco.com
0.29% net of a waiver through August 31, 2027 (0.33% gross), below the category median. GPIQ matches at 0.29%, also net of a waiver, through April 30, 2027; QYLD charges 0.60%, JEPQ 0.35%.
Options are added and rolled on a schedule rather than set all at once, which spreads entry points instead of pinning the month's income to a single expiry.invesco.com
Actively managed, so strikes and coverage can move with market conditions, and it pays monthly.

QRMI The collar resets monthly: covered calls on Nasdaq-100 stocks pay for a protective put, and the index is built so the calls bring in more premium than the put costs.globalxetfs.com
Among Nasdaq-100 income peers like QYLD, QYLG and JEPQ, this is the one that spends premium on downside protection instead of pocketing all of it.
Pays monthly, and the 0.60% fee sits under the typical Nasdaq-100 options-income fund.
You hold the actual Nasdaq-100 names, roughly 110 lines, with the option legs layered on top rather than a synthetic stand-in.

Worth knowing

QQA The flip side of premium: upside on the covered portion is capped, so a fast Nasdaq-100 rally is one this fund is built to lag.invesco.com
No declared target yield. Monthly payouts ride on option premiums, which rise and fall with volatility.
Mid-sized and moderately traded next to the category's largest names, so spreads can widen. Limit orders earn their keep.

QRMI The hedge isn't free: the calls that pay for the put also cap how much of a Nasdaq-100 rally the fund keeps.globalxetfs.com
A small fund that trades thinly, so spreads can be wider than the category giants and limit orders do real work.
Monthly payouts ride on option premiums, which swell and shrink with volatility. No fixed rate is promised.globalxetfs.com

Full QQA profile⁠

Full QRMI profile⁠

QQA vs QRMI Holdings

How QQA and QRMI differ

Overlap by weight

75.3%

Shared holdings make up 98.5% of QRMI and 75.3% of QQA.

Level by level

Holdings101 in both75.3%
Sector10 Sectors97.3%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in QQA and QRMI, widest gap first
Sector	More in QQAMore in QRMI	QQA	QRMI
Technology	QRMI +1.4 points	58.9%	60.3%
Communication	QRMI +1.2 points	11.4%	12.6%
Consumer Discretionary	QQA +0.8 points	10.9%	10.1%
Consumer Staples	QQA +0.7 points	6.3%	5.6%
Health Care	QQA +0.6 points	4.4%	3.8%
Industrials	QQA +0.2 points	5.3%	5.1%
Materials	QQA +0.1 points	1.0%	0.9%
Utilities	QQA +0.1 points	1.1%	1.0%
Energy	Same weight	0.5%	0.5%
Financials	Same weight	0.2%	0.2%

Country, concentration and asset class

Country by domicile

Country weights in QQA and QRMI, widest gap first
Country	More in QQAMore in QRMI	QQA	QRMI
United States	Same weight	97.3%	97.3%
Canada	Same weight	1.1%	1.1%
Netherlands	QQA +0.1 points	0.9%	0.8%
Brazil	QQA +0.1 points	0.4%	0.3%
China	Same weight	0.2%	0.2%
United Kingdom	Same weight	0.2%	0.2%

Concentration

Weight in the 10 largest Holdings

QQA53.6%
QRMI46.0%

Securities held

QQA122
QRMI103

Asset class

QQA: Equity
QRMI: Equity

Holdings

Only in QQA21
In both101
Only in QRMI2

Only in QQA

21 securities, 24.7% of QQA by weight

Invesco Premier US Government Money Portfolio20.46%
Toronto-Dominion Bank/The 148.80% 11/30/20260.40%
Royal Bank of Canada 163.05% 11/27/20260.37%
Citigroup Inc 154.75% 12/01/20260.33%
Canadian Imperial Bank of Commerce 143.00% 12/03/20260.31%
Royal Bank of Canada 171.13% 11/25/20260.30%
UBS Group AG 215.53% 11/20/20260.24%
Wells Fargo & Co 187.87% 11/23/20260.23%
Wells Fargo & Co 185.69% 11/24/20260.23%
UBS Group AG 215.54% 11/16/20260.19%
UBS Group AG 222.11% 11/16/20260.19%
Royal Bank of Canada 210.38% 11/19/20260.19%
Royal Bank of Canada 210.42% 11/18/20260.19%
BNP Paribas SA 205.15% 11/17/20260.18%
UBS Group AG 255.80% 11/12/20260.16%
Wells Fargo & Co 234.39% 11/13/20260.15%
BNP Paribas SA 245.48% 11/10/20260.13%
UBS Group AG 225.13% 11/09/20260.12%
Citigroup Inc 270.51% 11/05/20260.12%
Barclays Bank PLC 245.00% 11/04/20260.10%
UBS Group AG 265.52% 11/06/20260.09%

Only in QRMI

2 securities, 2.1% of QRMI by weight

Ndx Us 11/20/26 P281752.03%
Xnd Us 11/20/26 P2820.05%

Weight gaps

The 100 widest of 101 Holdings in both funds.

Holding weights in QQA and QRMI, widest gap first
Holding	More in QQAMore in QRMI	QQA	QRMI
Apple IncAAPL	QRMI +1.92 points	6.16%	8.08%
NVIDIA CorpNVDA	QRMI +1.87 points	6.04%	7.91%
Microsoft CorpMSFT	QRMI +1.47 points	4.75%	6.22%
Micron Technology IncMU	QRMI +1.03 points	3.38%	4.41%
Amazon.com IncAMZN	QRMI +0.98 points	3.17%	4.16%
Advanced Micro Devices IncAMD	QRMI +0.86 points	2.79%	3.65%
Tesla IncTSLA	QRMI +0.79 points	2.57%	3.36%
Meta Platforms IncMETA	QRMI +0.69 points	2.24%	2.93%
Walmart IncWMT	QRMI +0.63 points	2.03%	2.66%
Alphabet IncGOOGL	QRMI +0.62 points	2.01%	2.63%
Space Exploration Technologies CorpSPCX	QRMI +0.61 points	1.95%	2.56%
Broadcom IncAVGO	QRMI +0.59 points	1.90%	2.49%
Alphabet IncGOOG	QRMI +0.58 points	1.88%	2.46%
Costco Wholesale CorpCOST	QRMI +0.47 points	1.52%	1.99%
Palantir Technologies IncPLTR	QRMI +0.44 points	1.43%	1.87%
Cisco Systems IncCSCO	QRMI +0.43 points	1.39%	1.82%
Intel CorpINTC	QRMI +0.36 points	1.17%	1.53%
Applied Materials IncAMAT	QRMI +0.32 points	1.05%	1.37%
Lam Research CorpLRCX	QRMI +0.31 points	1.01%	1.32%
Palo Alto Networks IncPANW	QRMI +0.31 points	1.01%	1.32%
Texas Instruments IncTXN	QRMI +0.29 points	0.93%	1.22%
Amgen IncAMGN	QRMI +0.28 points	0.85%	1.13%
Netflix IncNFLX	QRMI +0.27 points	0.87%	1.14%
Crowdstrike Holdings IncCRWD	QRMI +0.27 points	0.87%	1.14%
Linde PLCLIN	QRMI +0.25 points	0.80%	1.05%
Gilead Sciences IncGILD	QRMI +0.22 points	0.72%	0.94%
KLA CorpKLAC	QRMI +0.21 points	0.70%	0.91%
Analog Devices IncADI	QRMI +0.21 points	0.68%	0.89%
Shopify IncSHOP	QRMI +0.21 points	0.64%	0.85%
PepsiCo IncPEP	QRMI +0.21 points	0.63%	0.84%
QUALCOMM IncQCOM	QRMI +0.18 points	0.59%	0.77%
Marvell Technology IncMRVL	QRMI +0.19 points	0.58%	0.77%
T-Mobile US IncTMUS	QRMI +0.18 points	0.57%	0.75%
Sandisk CorpSNDK	QRMI +0.18 points	0.57%	0.75%
Vertex Pharmaceuticals IncVRTX	QRMI +0.15 points	0.48%	0.63%
Intuitive Surgical IncISRG	QRMI +0.15 points	0.52%	0.67%
Seagate Technology Holdings PLCSTX	QRMI +0.15 points	0.49%	0.64%
ASML Holding NVASML	QRMI +0.13 points	0.50%	0.63%
Western Digital CorpWDC	QRMI +0.13 points	0.45%	0.58%
Automatic Data Processing IncADP	QRMI +0.13 points	0.39%	0.52%
Starbucks CorpSBUX	QRMI +0.12 points	0.40%	0.52%
Booking Holdings IncBKNG	QRMI +0.12 points	0.38%	0.50%
Marriott International Inc/MDMAR	QRMI +0.11 points	0.35%	0.46%
Adobe IncADBE	QRMI +0.10 points	0.34%	0.44%
Fortinet IncFTNT	QRMI +0.10 points	0.34%	0.44%
Regeneron Pharmaceuticals IncREGN	QRMI +0.10 points	0.32%	0.42%
CSX CorpCSX	QRMI +0.10 points	0.33%	0.43%
Intuit IncINTU	QRMI +0.09 points	0.32%	0.41%
Constellation Energy CorpCEG	QRMI +0.10 points	0.31%	0.41%
Monster Beverage CorpMNST	QRMI +0.10 points	0.31%	0.41%
Cadence Design Systems IncCDNS	QRMI +0.09 points	0.31%	0.40%
Cintas CorpCTAS	QRMI +0.09 points	0.30%	0.39%
Synopsys IncSNPS	QRMI +0.09 points	0.30%	0.39%
Lumentum Holdings IncLITE	QRMI +0.09 points	0.25%	0.34%
Mondelez International IncMDLZ	QRMI +0.09 points	0.28%	0.37%
Comcast CorpCMCSA	QRMI +0.08 points	0.28%	0.36%
ARM Holdings PLCARM	QRMI +0.09 points	0.30%	0.39%
Moderna IncMRNA	QRMI +0.08 points	0.30%	0.38%
Datadog IncDDOG	QRMI +0.08 points	0.27%	0.34%
DoorDash IncDASH	QRMI +0.08 points	0.25%	0.33%
Ross Stores IncROST	QRMI +0.07 points	0.25%	0.32%
American Electric Power Co IncAEP	QRMI +0.07 points	0.24%	0.31%
O'Reilly Automotive IncORLY	QRMI +0.07 points	0.24%	0.31%
Honeywell International IncHON	QRMI +0.08 points	0.23%	0.31%
Airbnb IncABNB	QRMI +0.07 points	0.23%	0.30%
AppLovin CorpAPP	QRMI +0.07 points	0.24%	0.31%
NXP Semiconductors NVNXPI	QRMI +0.07 points	0.22%	0.29%
Diamondback Energy IncFANG	QRMI +0.06 points	0.20%	0.26%
Fastenal CoFAST	QRMI +0.06 points	0.20%	0.26%
MercadoLibre IncMELI	QRMI +0.06 points	0.28%	0.34%
Baker Hughes CoBKR	QRMI +0.05 points	0.19%	0.24%
PDD Holdings IncPDD	QRMI +0.05 points	0.18%	0.23%
PACCAR IncPCAR	QRMI +0.06 points	0.18%	0.24%
Roper Technologies IncROP	QRMI +0.05 points	0.16%	0.21%
IDEXX Laboratories IncIDXX	QRMI +0.05 points	0.15%	0.20%
Coca-Cola Europacific Partners PLCCCEP	QRMI +0.05 points	0.17%	0.22%
Xcel Energy IncXEL	QRMI +0.05 points	0.17%	0.22%
Autodesk IncADSK	QRMI +0.05 points	0.18%	0.23%
PayPal Holdings IncPYPL	QRMI +0.05 points	0.16%	0.21%
Keurig Dr Pepper IncKDP	QRMI +0.05 points	0.16%	0.21%
Honeywell Aerospace IncHONA	QRMI +0.04 points	0.17%	0.21%
Exelon CorpEXC	QRMI +0.05 points	0.16%	0.21%
Ferrovial NVFER	QRMI +0.04 points	0.14%	0.18%
Axon Enterprise IncAXON	QRMI +0.04 points	0.12%	0.16%
Monolithic Power Systems IncMPWR	QRMI +0.05 points	0.20%	0.25%
Astera Labs IncALAB	QRMI +0.05 points	0.15%	0.20%
Microchip Technology IncMCHP	QRMI +0.05 points	0.14%	0.18%
Thomson Reuters CorpTRI	QRMI +0.04 points	0.15%	0.19%
Teradyne IncTER	QRMI +0.05 points	0.14%	0.19%
Strategy IncMSTR	QRMI +0.04 points	0.16%	0.20%
Take-Two Interactive Software IncTTWO	QRMI +0.04 points	0.12%	0.16%
Paychex IncPAYX	QRMI +0.04 points	0.13%	0.17%
Workday IncWDAY	QRMI +0.04 points	0.13%	0.17%
Rocket Lab CorpRKLB	QRMI +0.04 points	0.11%	0.15%
Nebius Group NVNBIS	QRMI +0.04 points	0.12%	0.16%
GE HealthCare Technologies IncGEHC	QRMI +0.03 points	0.12%	0.15%
Copart IncCPRT	QRMI +0.04 points	0.09%	0.13%
Old Dominion Freight Line IncODFL	QRMI +0.03 points	0.12%	0.15%
Dexcom IncDXCM	QRMI +0.03 points	0.10%	0.13%
CoreWeave IncCRWV	QRMI +0.02 points	0.09%	0.11%

All 122 QQA holdings⁠All 105 QRMI holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

QQA vs QRMI Cost

Overpaying QRMI vs QQA

$5,865

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

QQA 0.29%
$5,952
QRMI 0.60%
$11,817

Amount$10,000

Years30 years

Cost over time

QQA 0.29%
QRMI 0.60%
Overpaying

Year by year

Year	QQA	QRMI	Overpaying
10	$527	$1,076	$549
20	$2,044	$4,116	$2,072
30	$5,952	$11,817	$5,865

Expense ratio

0.29%QQA, cheaper
0.60%QRMI

QQA0.29%QRMI0.60%

0.00%1.20%

Middle half of Nasdaq-100 Option Income funds
Median 0.71%

QQA 2nd cheapest of 30 funds

QRMI 10th cheapest of 30 funds

QQA vs QRMI Dividends

Last 12 months to Nov 2, 2026

Yield (12M): QQA 10.61%; QRMI 12.69%, better
Payout (12M): QQA $5.62; QRMI $1.87
Last payment: QQA $0.47; QRMI $0.15
Ex-dividend: QQA Oct 19, 2026; QRMI Oct 19, 2026
Paid on: QQA Oct 23, 2026; QRMI Oct 22, 2026
Frequency: QQA Monthly; QRMI Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

QQAMonthly · 27 paymentsAll QQA payments⁠

QRMIMonthly · 46 paymentsAll QRMI payments⁠

QQA vs QRMI Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: QQA 13.1%since Aug 2024QRMI 6.1%
Return per unit of riskSharpe ratio, 3 years: QQA 0.91since Aug 2024QRMI 0.66
Worst fallMax drawdown, 5 years: QQA −19.7%since Jul 2024QRMI −20.4%
Market sensitivityBeta, 5 years: QQA 0.92QRMI 0.36; Market = 1

Popular comparisons

QQAAvsGPIQA
Invesco QQQ Income Advantage ETF · Goldman Sachs Nasdaq-100 Premium Income ETF
Expense ratio
0.29% · 0.29%
Category
QRMIBvsGPIQA
Global X Nasdaq 100 Risk Managed Income ETF · Goldman Sachs Nasdaq-100 Premium Income ETF
Expense ratio
0.60% · 0.29%
Category
QQAAvsJEPQA
Invesco QQQ Income Advantage ETF · JPMorgan Nasdaq Equity Premium Income ETF
Expense ratio
0.29% · 0.35%
Category
QRMIBvsJEPQA
Global X Nasdaq 100 Risk Managed Income ETF · JPMorgan Nasdaq Equity Premium Income ETF
Expense ratio
0.60% · 0.35%
Category
QQAAvsQYLDA
Invesco QQQ Income Advantage ETF · Global X Nasdaq 100 Covered Call ETF
Expense ratio
0.29% · 0.60%
Category
QRMIBvsQYLDA
Global X Nasdaq 100 Risk Managed Income ETF · Global X Nasdaq 100 Covered Call ETF
Expense ratio
0.60% · 0.60%
Category