Key Highlights

  • QMAX (ASX:QMAX) gives Nasdaq 100 stock exposure, with call options written over the holding for income.
  • The fund holds the Invesco NASDAQ 100 ETF at 72.04% and the Betashares Nasdaq 100 ETF at 27.95%.
  • Technology makes up 59.97% of the sector mix, with communication services at 12.61%.
  • Fund size is $45.22 million, with fees of 0.68%.

Betashares Nasdaq 100 Yield Maximiser Complex ETF (ASX:QMAX) traded at $29.40 during the trading session on 30 October 2026, down 1.54%, with 12,571 units changing hands. QMAX holds Nasdaq 100 exposure through two underlying ETFs and writes call options over the portfolio. The fund was admitted to the ASX on 7 October 2022 and is benchmarked to the NASDAQ 100 AUD index.

Fund Details

Fund size is $45.22 million, with 1,514,383 units on issue. The ISIN is AU0000238560 and management fees and costs are 0.68% a year. The objective is to combine a share portfolio that tracks the Nasdaq 100 with the writing of call options on up to all of the fund's index exposure.

The day's range was $29.34 to $29.66, and average daily volume is about 5,294 units.

Stock Exposure and Sector Mix

The fund's stock exposure runs through two underlying ETFs: the Invesco NASDAQ 100 ETF at 72.04% and the Betashares Nasdaq 100 ETF at 27.95%. The Nasdaq 100 mix is therefore the fund's stock mix: technology 59.97%, communication services 12.61%, consumer cyclical 10.35%, consumer defensive 5.74% and industrials 4.82%.

Exposure is 97.39% United States, with small positions in Canada, Brazil, the Netherlands, China and the United Kingdom.

Income Profile

No annual yield is quoted for this fund. Its income comes from option premium rather than from the dividends of the underlying companies, so distributions can vary with the premiums earned and the stock price moves.

Session Trading

QMAX traded between $29.34 and $29.66 during the session, with 12,571 units changing hands. The bid-offer range was $29.35 to $29.40.

How the Portfolio Is Built

The fund sells call options over the Nasdaq 100 exposure, so each option gives the buyer the right to the index upside above a strike price. The premium received is the income the fund pays, and the upside beyond the strike is given up. The structure works best in flat or moderately rising markets, where the premium is kept without the stock gaining sharply above the strike.

What the Exposure Means

QMAX gives investors Nasdaq 100 stock exposure with a covered-call layer, so the stock mix is technology-heavy but the upside is partly capped. The two underlying ETFs drive the holdings, and the options overlay shapes how the return is delivered.