Nicholas Fixed Income Alternative ETFFIAX

NicholasxBonds & CashOther Bonds#70 of 786 by YTD

$17.35

+0.2% last session

+3.2% YTD

Data as of 11/5/20264:00 PM ET · End-of-day

Dividend-adjusted total return · S&P 500 uses VOO · Nov 4, 2025 – Nov 5, 2026FIAXS&P 500 · VOO

Returns	1D	1M	3M	YTD	1Y	3Y	5Y	MAX
Total return	+0.2%	+2.4%	+1.3%	+3.2%	+4.3%	+14.0%	—	+14.0%
Peer average	−0.1%	+1.1%	−0.8%	+1.5%	+1.9%	+22.4%	+6.6%	—
S&P 500 · VOO	−4.4%	−5.7%	−4.9%	+8.4%	+9.8%	+82.2%	+71.6%	—

Key Statistics

Open all fund facts →

AUM: $121M
Expense ratio: 0.97%
Distribution yield: 8.2%
NAV: $17.29
Volume: 3K
Avg. volume 30D: 12K
High today: $17.36
Low today: $17.31
Previous close: $17.32
52-week high: $18.30
52-week low: $16.93
Our risk indicator: 2/5

FIAX in One Breath

FIAX Among Other Bonds ETFs

YTD

#1CMDTPIMCO+23.1%$823M

#2RSBYReturn Stacked+17.7%$46.4M

#3DDXXDiscipline Funds+12.7%$20.8M

#4ILSBrookmont+8.1%$126M

#5CBONVanEck+7.1%$33.8M

#6ACVTAdvent+5.4%$42.8M

#7DDXDiscipline Funds+4.8%$77.4M

#8RSBTReturn Stacked+4.5%$160M

#14FIAXNicholasx+3.2%$121M

End-of-day Nov 6, 2026 · 81 Other bonds ETFs by YTD

$10,000 in FIAX

$10,000 in FIAX became

$11,399

In the S&P 500 (VOO)

$19,008

Total return, dividends in · Nov 30, 2022 – Nov 5, 2026 · S&P 500 uses VOO

FIAX’s Top Holdings

Today

United States United States Treasury Note/Bond 3.875% 06/15/202825.0%United State24.8%United State24.7%United State23.8%SPXW SVXY First

United States United States Treasury Note/Bond 3.875% 06/15/202825.0%United State24.8%United State24.7%United State23.8%SPXW SVXY

Other

Nicholasx FIAX · 11 holdings · top 8 shown · tile size = share of the fund · as of Nov 5, 2026

What FIAX Holds

Today

Technology38.7%

[…]

Financial Services12.1%

[…]

Communication Services9.5%

[…]

Consumer Cyclical9.3%

[…]

Healthcare9.3%

[…]

Industrials7.8%

[…]

Consumer Defensive4.5%

[…]

Nicholasx FIAX · share of the fund by sector · as of Nov 5, 2026

United’s Share of FIAX

Today

25.0%

$250 of every $1,000 in FIAX is United

United held by FIAX

$30.4M

Nicholasx FIAX · each square = $10 of $1,000 · as of Nov 5, 2026

FIAX’s Share of Other Bonds ETFs

Today

0.1%

of the $109B in 92 Other bonds ETFs

FIAX$121M0.1%

PYLD$16.7B15.3%

FLOT$11.6B10.7%

89 others$80.2B73.8%

Other bonds ETF AUM · Nov 6, 2026

FIAX Fee per $100 vs Peers

Today

$0.97a year
per $100

$97 a year on $10,000

FLOT$0.15

ICVT$0.20

JBND$0.25

BOND$0.53

PYLD$0.66

FIAX$0.97

Expense ratio · Other bonds peers · Nov 6, 2026

Inside FIAX

11 holdings · as of Nov 5, 2026

FIAX

Nicholas Fixed Income Alternative ETF

Today

Technology38.7%Financial Services12.1%Communication Services9.5%Consumer Cyclical9.3%Healthcare9.3%Industrials7.8%Consumer Defensive4.5%Other100.1%United StateUnited States Treasury Note/Bond 3.875% 06/15/202825.0%United Sta24.8%United Sta24.7%United Sta23.8%

Technology38.7%Financial Services12.1%Communication Services9.5%Consumer Cyclical9.3%Healthcare9.3%Industrials7.8%Other100.1%United Sta25.0%United Sta24.8%United Sta24.7%United Sta23.8%

#	Ticker	Company	Weight ▼
1	—	United States Treasury Note/Bond 3.875% 06/15/2028	25.05%
2	—	United States Treasury Note/Bond 3.875% 03/31/2031	24.77%
3	—	United States Treasury Note/Bond 3.875% 04/15/2029	24.74%
4	—	United States Treasury Note/Bond 4.5% 02/15/2036	23.77%
5	—	Spxw US 12/31/26 C7350	1.10%
6	—	Svxy US 11/20/26 P66	0.41%
7	—	First American Government Obligations Fund 12/01/2031	0.20%
8	—	Cash & Other	0.09%

See all 10 holdings ↓

TechnologyFinancial ServicesCommunication ServicesConsumer CyclicalHealthcareIndustrialsConsumer DefensiveEnergyUtilitiesReal EstateBasic MaterialsOther

Nicholasx FIAX · current holdings by weight · as of Nov 5, 2026 · each tile is one holding

All FIAX Holdings

10 holdings · as of Nov 5, 2026

FIAX

FIAX’s Holdings

Today

#
1	—United States Treasury Note/Bond 3.875% 06/15/2028	25.05%	$2,504.71	30.6M	$30.3M
2	—United States Treasury Note/Bond 3.875% 03/31/2031	24.77%	$2,476.78	30.9M	$29.9M
3	—United States Treasury Note/Bond 3.875% 04/15/2029	24.74%	$2,473.86	30.4M	$29.9M
4	—United States Treasury Note/Bond 4.5% 02/15/2036	23.77%	$2,377.41	29.2M	$28.7M
5	—Spxw US 12/31/26 C7350	1.10%	$110.15	29	$1.3M
6	—Svxy US 11/20/26 P66	0.41%	$41.26	1,535	$499K
7	—First American Government Obligations Fund 12/01/2031	0.20%	$19.85	240K	$240K
8	—Cash & Other	0.09%	$9.13	110K	$110K
9	—Spxw US 11/20/26 C7850	−0.03%	−$3.31	-15	−$40K
10	—Svxy US 11/20/26 P60	−0.10%	−$9.84	-1,535	−$119K

Nicholasx FIAX · every reported holding · per $10,000 = dollars of each holding in a $10,000 stake · as of Nov 5, 2026

How It Compares

FIAX

Nicholas Fixed Income Alternative ETF’s Peers

YTD


PYLD	PIMCORead Desk	0.66%	+1.0%	+2.2%	$16.7B
FLOT	iSharesRead Desk	0.15%	+3.5%	+4.3%	$11.6B
JBND	J.P. MorganRead Desk	0.25%	−0.1%	+0.5%	$9.5B
BOND	PIMCORead Desk	0.53%	+0.2%	+0.6%	$9.1B
ICVT	iSharesRead Desk	0.20%	+3.2%	+0.6%	$7.1B
FIAX	NicholasxThis fundRead Desk	0.97%	+3.2%	+4.3%	$121M

Other bonds peers · YTD and past-year returns · as of Nov 6, 2026 · sorted by AUM

Head to Head

Put FIAX head to head with PYLD →

PYLD vs FIAX

YTD

PYLDPIMCO · Other bondsFIAXNicholasx · Other bonds

Year to date

+1.0%

+3.2%

FIAX wins+2.2 pts

Past year

+2.2%

+4.3%

FIAX wins+2.1 pts

Fee

0.66%

0.97%

PYLD winslower fee

Yield

6.5%

8.2%

FIAX wins+1.7 pts

AUM

$16.7B

$121M

PYLD137.2× more

3–1FIAX wins

PIMCO PYLD and Nicholasx FIAX · year-to-date · as of Nov 6, 2026 · AUM not scored

FIAX vs VOO

YTD

FIAX · Nicholas Fixed Income Alternative

+3.2%

VOO · S&P 500

+8.4%

Gap

5.2 pts

Nicholasx FIAX and Vanguard VOO · YTD total return · as of Nov 6, 2026

FIAX vs Its Peer Average

YTD

FIAXAvsBPeer average

1D+0.2%−0.1%

1M+2.4%+1.1%

3M+1.3%−0.8%

YTD+3.2%+1.5%

1Y+4.3%+1.9%

3Y+14.0%+22.4%

5Y[…]+6.6%

5–1FIAX wins

91 Other bonds peers · each row scaled to its leader

The Details

FIAX

Risk

2/5our risk indicator

CalmerBumpier

Volatility · 1Y4.10%

Deepest drop · 1Y−2.4%

Lowest point · 5Y−0.4%

52-week range

$17.35

$16.93−5.2% from the high$18.30

Nicholasx FIAX · past-year price moves · as of Nov 6, 2026

FIAX

Fund Facts

Today

2022launched Nov 29

Tracks[…]

Exchange · CUSIPAMEX · 88634T535

StructureETF

Leverage1x

Cost on $10,000$97 a year

Go deeper

Prospectus & documents Trading & liquidity Fees & costs Distributions

Nicholasx FIAX · fund facts · as of Nov 6, 2026

FIAX

Payouts by Year

$0.11per share, Oct 2026

Distribution yield8.2%

PaidEvery month

Latest ex-date · paidOct 15 · Oct 16, 2026

12 payouts added up$1.42 a share

Nicholasx FIAX · distributions by ex-date · 2023–2026

All Fund FactsDocuments · trading · fees · every payout

Prospectus & Documents

SEC reported portfolio · 2026-07-31 ↗SEC reported portfolio · 2026-04-30 ↗SEC reported portfolio · 2026-01-31 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2025-10-31 ↗

Trading & Liquidity

Net asset value$17.29

Premium / discount[…]

Median spread · 30D[…]

Volume today3K

Average volume · 30D12K

Shares outstanding[…]

Options[…]

Fees & Costs

Net expense ratio0.97%

Gross expense ratio[…]

Management fee[…]

Cost on $10,000 a year$97.00

Our risk indicator2/5

Estimated yearly cost excludes trading costs and assumes constant assets.

Distributions

Ex-date	Paid	Per share
Oct 15, 2026	Oct 16, 2026	$0.11
Sep 17, 2026	Sep 18, 2026	$0.11
Aug 20, 2026	Aug 21, 2026	$0.12
Jul 16, 2026	Jul 17, 2026	$0.12
Jun 18, 2026	Jun 22, 2026	$0.12
May 21, 2026	May 22, 2026	$0.12
Apr 16, 2026	Apr 17, 2026	$0.12
Mar 19, 2026	Mar 20, 2026	$0.12
Feb 19, 2026	Feb 20, 2026	$0.12
Jan 15, 2026	Jan 16, 2026	$0.12
Dec 18, 2025	Dec 19, 2025	$0.12
Nov 20, 2025	Nov 21, 2025	$0.12

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