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Nicholas Fixed Income Alternative ETF (FIAX)
USD17.56
-0.02 (-0.11%)
AMEX USD US Fixed Income
NAV
USD 17.51
+0.29% vs NAV
as of 2026-05-21
AUM
USD 132.16M
TER
0.97%
Yield (TTM)
8.18%
Distribution
Distributing · Monthly
52-week range
17.33 – 18.23
Holdings
15
Issuer
Nicholasx
About this ETF
The Nicholas Fixed Income Alternative ETF is an actively managed ETF that invests primarily in U.S. Treasury fixed income securities and aims to provide current income. The fund employs a defined risk option premium strategy using options on ETFs across multiple asset classes.
ISIN
US88634T5359
Issuer
Nicholasx
Domicile
US
Inception
2022-11-28
Asset class
Fixed Income
Website
nicholasx.com/FIAX
Price
Top 10 holdings
| United States Treasury Note/Bond 3.875% 06/15/2028 | 24.73% |
| United States Treasury Note/Bond 4.625% 10/15/2026 | 24.55% |
| United States Treasury Note/Bond 3.875% 03/31/2031 | 23.17% |
| United States Treasury Note/Bond 3.875% 04/15/2029 | 23.01% |
| United States Treasury Note/Bond 4.5% 02/15/2036 | 2.43% |
| SPXW US 09/30/26 C7200 | 1.18% |
| First American Government Obligations Fund 12/01/2031 | 0.73% |
| Cash & Other | 0.64% |
| SPXW US 07/31/26 P7265 | 0.17% |
| SPXW US 07/31/26 C7770 | 0.16% |
Sector mix
Price chart
USD17.56
-0.02 (-0.11%)
Loading historical data…
Returns
| 1 month | -0.11% |
| 3 months | -0.17% |
| 6 months | -2.66% |
| Year to date | -2.28% |
| 1 year | -3.62% |
| 3 years (ann.) | -4.23% |
| 5 years (ann.) | — |
| 10 years (ann.) | — |
Risk profile
| Volatility (1y, ann.) | 4.55% |
| Sharpe (1y) | -0.79 |
| Sharpe (3y) | -0.89 |
| Sortino (1y) | -1.05 |
| Max drawdown (1y) | -4.94% |
| Max drawdown (5y) | — |
| Max drawdown (full) | -13.78% |
| Beta vs S&P 500 (1y) | 0.16 |
| Correlation vs S&P 500 (1y) | 0.45 |
Technical outlook as of 2026-07-13
Day Score (bias 0-100, not a probability)
28
P(gain) 22 sessions — probability
38%
VaR 95% (daily)
-0.51%
CVaR 95% (daily)
-0.76%
GARCH vol forecast (22d)
0.22%
Market regime (Markov)
Lateral
The Monte Carlo cone is drawn on the price chart above (Forecast overlay); RSI, MACD and the rest of the oscillators live in its indicator panels.
Top-10 concentration
100.8%
Effective holdings
4
Disclosed positions
15
Full holdings
| Constituent | ISIN | Market value | Weight |
|---|---|---|---|
| Loading… | |||
Sector breakdown
Geographic exposure
Loading map…
Cost vs. peers
FIAX
0.97%
Fixed Income median
0.20%
Cheapest in class BKAG
0.00%
Comparison universe: 1,710 funds of the same asset class.
Cost impact calculator
Dividend history
Distributing share class Income is paid out to shareholders.
| Ex-date | Payment | Amount |
|---|---|---|
| 2026-06-18 | 2026-06-22 | USD 0.1181 |
| 2026-05-21 | 2026-05-22 | USD 0.1168 |
| 2026-04-16 | 2026-04-17 | USD 0.1180 |
| 2026-03-19 | 2026-03-20 | USD 0.1170 |
| 2026-02-19 | 2026-02-20 | USD 0.1199 |
| 2026-01-15 | 2026-01-16 | USD 0.1207 |
| 2025-12-18 | 2025-12-19 | USD 0.1209 |
| 2025-11-20 | 2025-11-21 | USD 0.1203 |
| 2025-10-16 | 2025-10-17 | USD 0.1210 |
| 2025-09-18 | 2025-09-19 | USD 0.1213 |
| 2025-08-14 | 2025-08-15 | USD 0.1215 |
| 2025-07-17 | 2025-07-18 | USD 0.1217 |
| 2025-06-18 | 2025-06-20 | USD 0.1221 |
| 2025-05-15 | 2025-05-16 | USD 0.1218 |
| 2025-04-16 | 2025-04-17 | USD 0.1204 |
| 2025-03-20 | 2025-03-21 | USD 0.1236 |
| 2025-02-20 | 2025-02-21 | USD 0.1280 |
| 2025-01-16 | 2025-01-17 | USD 0.1262 |
| 2024-12-17 | 2024-12-18 | USD 0.2266 |
| 2024-11-18 | 2024-11-19 | USD 0.1302 |
| 2024-10-16 | 2024-10-17 | USD 0.1318 |
| 2024-09-17 | 2024-09-18 | USD 0.1321 |
| 2024-08-16 | 2024-08-19 | USD 0.1153 |
| 2024-07-16 | 2024-07-17 | USD 0.1153 |
| 2024-06-18 | 2024-06-20 | USD 0.1141 |
| 2024-05-16 | 2024-05-20 | USD 0.1144 |
| 2024-04-16 | 2024-04-18 | USD 0.1139 |
| 2024-03-18 | 2024-03-20 | USD 0.1155 |
| 2024-02-16 | 2024-02-21 | USD 0.1160 |
| 2024-01-17 | 2024-01-19 | USD 0.1181 |
| 2023-12-15 | 2023-12-19 | USD 0.1157 |
| 2023-11-15 | 2023-11-17 | USD 0.1077 |
| 2023-10-16 | 2023-10-18 | USD 0.1062 |
| 2023-09-14 | 2023-09-18 | USD 0.1076 |
| 2023-08-15 | 2023-08-17 | USD 0.1104 |
| 2023-07-17 | 2023-07-19 | USD 0.0910 |
| 2023-06-14 | 2023-06-16 | USD 0.0692 |
| 2023-05-15 | 2023-05-17 | USD 0.0693 |
| 2023-04-17 | 2023-04-19 | USD 0.0475 |
| 2023-03-15 | 2023-03-17 | USD 0.0464 |
ESG profile
No ESG estimate available: none of the scored universe overlaps this portfolio (typical for bond, commodity or synthetic funds).
Scored coverage: 0.0% of the portfolio by weight.
Similar ETFs
| Fund | TER | AUM (USD) | Yield (TTM) | Return 1y | Sharpe 1y |
|---|---|---|---|---|---|
| Vanguard Total Bond Market ETF BND | 0.03% | 394.40B | 4.01% | -0.82% | -0.19 |
| iShares Core U.S. Aggregate Bond ETF AGG | 0.03% | 138.36B | 4.03% | -0.76% | -0.17 |
| Vanguard Total International Bond ETF BNDX | 0.07% | 122.00B | 4.52% | -2.72% | -0.64 |
| iShares 0-3 Month Treasury Bond ETF SGOV | 0.09% | 97.69B | 3.80% | +0.05% | 0.05 |
| Vanguard Short-Term Inflation-Protected Securities ETF VTIP | 0.03% | 70.50B | 4.16% | -0.54% | -0.18 |
| Vanguard Short-Term Bond ETF BSV | 0.03% | 70.40B | 4.02% | -1.02% | -0.48 |
| Vanguard Intermediate-Term Corporate Bond ETF VCIT | 0.03% | 68.70B | 4.86% | -1.04% | -0.22 |
| Vanguard Intermediate-Term Bond ETF BIV | 0.03% | 52.20B | 4.27% | -1.28% | -0.28 |
| Vanguard Short-Term Corporate Bond ETF VCSH | 0.03% | 50.50B | 4.47% | -0.85% | -0.36 |
| Vanguard Intermediate-Term Treasury ETF VGIT | 0.03% | 49.50B | 3.89% | -1.50% | -0.41 |
Cheaper alternatives
No fund of the class reaches 60% portfolio overlap — showing the cheapest funds of the class instead.
| Fund | TER | AUM (USD) | Overlap |
|---|---|---|---|
| Vanguard Short-Term Corporate Bond ETF VCSH | 0.03% | 50.50B | 0.0% |
| Vanguard Total Bond Market ETF BND | 0.03% | 394.40B | 0.0% |
| iShares Core U.S. Aggregate Bond ETF AGG | 0.03% | 138.36B | 0.0% |
| Vanguard Short-Term Inflation-Protected Securities ETF VTIP | 0.03% | 70.50B | 0.0% |
| Vanguard Short-Term Bond ETF BSV | 0.03% | 70.40B | 0.0% |
