FIAX Nicholas Fixed Income Alternative ETF
Quote as of Aug 26, 2026 19:52 UTC · Market data delayed approximately 15–20 minutes unless otherwise indicated.
| Previous Close | 17.34 | Day Range | 17.29 – 17.32 |
| 52-Week Range | 17.29 – 18.30 | Volume | 74.53K |
| Avg Volume | 11.68K | AUM | $127.0M (Aug 27, 2026) |
| Expense Ratio | 0.97% | Yield (TTM) | 8.25% |
| NAV | 17.34 | Premium/Discount | -0.10% indicative |
| Inception | Nov 29, 2022 | Holdings | 23 |
| Issuer | Nicholasx | Exchange | AMEX |
| Category | International Bonds | Index Tracked | Not stated in source data |
| CUSIP | 88634T535 | ISIN | US88634T5359 |
| Structure | Option Income | ||
| Management | Not stated in source data | ||
About this ETF
The Nicholas Fixed Income Alternative ETF is a dynamically managed fund that primarily allocates capital to U.S. government debt instruments, seeking to generate consistent income. This is achieved in part through a structured options strategy designed to yield premium income while managing potential losses, by utilizing options tied to exchange-traded funds that cover a broad range of asset categories.
Description from the fund data provider · profile as of Aug 27, 2026.
Price Chart
Daily closing prices (price return, not total return). Comparison lines are normalized to percent change from the range start. Source: Financial Modeling Prep.
Performance
| 1M | 3M | 6M | YTD | 1Y | 3Y* | 5Y* | 10Y* | Incep.* | |
|---|---|---|---|---|---|---|---|---|---|
| Price return | -0.62% | -1.52% | -2.96% | -3.61% | -4.46% | -4.51% | — | — | -3.80% |
| Total return | -0.63% | -0.17% | +0.41% | +1.11% | +2.91% | +3.04% | — | — | +2.94% |
* Annualized. Total return uses the dividend-adjusted price series (distributions reinvested); price return uses unadjusted closes. Performance through Aug 26, 2026. Past performance does not guarantee future results.
Fees
| Net expense ratio | 0.97% | Annual cost of a $10,000 investment | $97.00 |
Illustrative calculation only: expense ratio × $10,000. It excludes trading costs, bid/ask spreads, taxes and changes in investment value. Gross vs. net expense details and any fee waivers are in the prospectus.
Holdings
Holdings as of Aug 22, 2026 — portfolio reporting date from the data provider; holdings are not live positions. 13 rows in database.
| # | Holding | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|---|
| 1 | United States Treasury Note/Bond 4.625%… | — | 25.30% | 32.10M | $32.1M |
| 2 | United States Treasury Note/Bond 3.875%… | — | 24.73% | 31.61M | $31.4M |
| 3 | United States Treasury Note/Bond 3.875%… | — | 23.04% | 29.93M | $29.3M |
| 4 | United States Treasury Note/Bond 3.875%… | — | 22.93% | 29.43M | $29.1M |
| 5 | United States Treasury Note/Bond 4.5% 02/15/2036 | — | 2.47% | 3.17M | $3.1M |
| 6 | Cash & Other | — | 1.35% | 1.71M | $1.7M |
| 7 | SPXW US 09/30/26 C7200 | — | 1.24% | 30 | $1.6M |
| 8 | SPXW US 08/31/26 C7650 | — | 0.52% | 95 | $661.2K |
| 9 | SPXW US 08/31/26 C7675 | — | 0.41% | 95 | $516.8K |
| 10 | First American Government Obligations Fund… | — | 0.05% | 69.09K | $69.1K |
| 11 | SPXW US 09/18/26 C8000 | — | -0.02% | -30 | -$23.6K |
| 12 | SPXW US 08/31/26 C7575 | — | -0.94% | -95 | -$1.2M |
| 13 | SPXW US 08/31/26 C7550 | — | -1.09% | -95 | -$1.4M |
Click a ticker to see every ETF that owns it.
Sector Exposure
Geographic Exposure
Country weights as reported by the data provider. Developed/emerging/frontier labels follow the classification on the Methodology page. Currency hedged: No hedging indicated in the fund name.
Distributions
| Yield (TTM) | 8.25% | Paid (last 12 months) | $1.4284 |
| Frequency | Monthly | SEC yield | Not provided by our data source — see the issuer page |
| Last ex-date | Aug 20, 2026 | Last payment | $0.1170 (Aug 21, 2026) |
| Growth 1Y | -11.06% | Growth 3Y / 5Y (ann.) | — / — |
| Ex-date | Record | Pay date | Amount |
|---|---|---|---|
| Aug 20, 2026 | Aug 20, 2026 | Aug 21, 2026 | $0.1170 |
| Jul 16, 2026 | Jul 16, 2026 | Jul 17, 2026 | $0.1174 |
| Jun 18, 2026 | Jun 18, 2026 | Jun 22, 2026 | $0.1181 |
| May 21, 2026 | May 21, 2026 | May 22, 2026 | $0.1168 |
| Apr 16, 2026 | Apr 16, 2026 | Apr 17, 2026 | $0.1180 |
| Mar 19, 2026 | Mar 19, 2026 | Mar 20, 2026 | $0.1170 |
| Feb 19, 2026 | Feb 19, 2026 | Feb 20, 2026 | $0.1199 |
| Jan 15, 2026 | Jan 15, 2026 | Jan 16, 2026 | $0.1207 |
| Dec 18, 2025 | Dec 18, 2025 | Dec 19, 2025 | $0.1209 |
| Nov 20, 2025 | Nov 20, 2025 | Nov 21, 2025 | $0.1203 |
| Oct 16, 2025 | Oct 16, 2025 | Oct 17, 2025 | $0.1210 |
| Sep 18, 2025 | Sep 18, 2025 | Sep 19, 2025 | $0.1213 |
Trailing distribution yield = last 12 months of cash ÷ current price. It is NOT the SEC 30-day yield and distributions are not guaranteed to continue. The difference explained →
Risk Statistics
| Volatility 1Y / 3Y | 4.10% / 4.26% | Sharpe 1Y / 3Y | -0.171 / -0.131 |
| Max drawdown 1Y / 3Y | -2.37% / -6.28% | Sortino 1Y | -0.244 |
| Beta vs S&P 500 (3Y) | 0.147 | Correlation vs S&P 500 (1Y) | 0.524 |
| Downside deviation 1Y | 2.87% | Risk-free rate used | 3.71% (3M T-bill, FRED) |
Computed by ETF Explorer from daily dividend-adjusted closes; volatility and drawdown are annualized/period figures; S&P 500 exposure proxied by SPY. As of Aug 27, 2026. Formulas →
Liquidity
| Volume today | 74.53K | Average volume | 11.68K |
| AUM | $127.0M | Premium/Discount | -0.10% |
| Bid/Ask spread | Not provided by our data source. Check your broker's quote screen; spreads are widest at the open and close. | ||
Premium/discount compares the delayed market price with the last reported NAV — an indicative figure, not the official closing premium/discount. How ETF liquidity works →
Fund Flows (estimated)
| Period | Est. net flow | % of starting AUM | AUM start → end |
|---|---|---|---|
| 1 Day | $0.00 | 0.00% | $127.0M → $127.0M |
| 1 Week | -$3.1M | -2.37% | $130.6M → $127.0M |
ETF Explorer estimate: change in reported AUM minus the market-move effect, from our own daily snapshots. Not official issuer creation/redemption data.
Official Fund Resources
External links open the issuer's site or SEC EDGAR in a new tab. The prospectus and official documents are always the authoritative source — review them before investing.
Latest News for FIAX
No articles mention this fund directly in the last 7 days — showing general ETF coverage.
Guided help: AUM is fund size. The expense ratio is the yearly cost baked into returns. NAV is the value of what the fund owns per share; the market price can sit slightly above (premium) or below (discount) it. Total return assumes distributions were reinvested. Every dataset shows its own as-of date because holdings, assets and quotes update on different schedules.