FIAX: Nicholas Fixed Income Alternative ETF
Nicholas X-Funds · Bonds / Fixed Income
Growth of $100
Green is what an investor who reinvested every payout would have; red is the price alone. The gap between them is the income. If the red line keeps falling, the payouts are partly your own money coming back.
Was the payout earned?
Over the last year FIAX paid 8.2% but returned +4.1% in total, so about 50% of the payout was earned; the rest came back out of the fund's own value (its price fell).
| Earned % (3 months) | 65% |
| Earned % (1 year) | 50% |
| Earned % (full history, up to 5 yrs) | 48% |
Earned % = total return ÷ payouts. 100% means every dollar paid out was earned; below 100% means part of it came from the fund's own value. This is an economic measure based on market price, not the tax label on the payout.
Where the DT Score comes from
Total 55.3 / 100 · rank #142 of 420. How the score works
Risk
| Sortino ratio (1Y) | 0.05 |
| Sharpe ratio (1Y) | 0.04 |
| Steadiness vs S&P 500 | 334% |
| Beta to S&P 500 | 0.15 |
| Correlation to S&P 500 | 0.49 |
| Max drop (1Y) | -2.4% |
| Max drop (up to 5 yrs) | -6.3% |
| Trend | Mixed |
| History | 3.9 yrs |
Vs. AGG (what it's built on)
| Upside capture | 62% |
| Downside capture | 44% |
| Capture ratio | 1.41 |
| Beta | 0.50 |
| Correlation | 0.51 |
| Tracking | – |
On days AGG rose, FIAX caught 62% of the gain; on days it fell, FIAX took 44% of the loss.
Payout history
Each bar is one payout (last 36 shown). Pays Monthly.
| Ex-date | Amount |
|---|---|
| 2026-10-15 | $0.1140 |
| 2026-09-17 | $0.1150 |
| 2026-08-20 | $0.1170 |
| 2026-07-16 | $0.1170 |
| 2026-06-18 | $0.1180 |
| 2026-05-21 | $0.1170 |
| 2026-04-16 | $0.1180 |
| 2026-03-19 | $0.1170 |
| 2026-02-19 | $0.1200 |
| 2026-01-15 | $0.1210 |
| 2025-12-18 | $0.1210 |
| 2025-11-20 | $0.1200 |
Funds that track the same thing
Other Bonds / Treasuries income funds, ranked by DT Score. See them all · Compare FIAX with the top 3
| Fund | Category | Fwd rate | 12m yield | 1Y total ret. | Earned % 1Y | Upside capt. | Downside capt. | Tracking | DT Score | Momentum | Trend |
|---|---|---|---|---|---|---|---|---|---|---|---|
| USFR WisdomTree Floating Rate Treasury Fund | Bonds / Fixed Income | 4.1% | 3.7% | +4.0% | 109% | 7% | -9% | – | 72 | 90 | Uptrend |
| MINT PIMCO Enhanced Short Maturity Active ETF | Bonds / Fixed Income | 3.9% | 3.7% | +3.8% | 103% | 10% | -5% | – | 66 | 72 | Downtrend |
| JFLI JPMorgan Flexible Income ETF | Bonds / Fixed Income | 8.0% | 8.5% | +8.4% | 84% | 132% | 105% | – | 62 | 43 | Downtrend |
| NSCI Nuveen Securitized Income ETF | Bonds / Fixed Income | 4.8% | 4.4% | +3.6% | 82% | 25% | 11% | – | 55 | 67 | Downtrend |
| HYBI NEOS Enhanced Income Credit Select ETF | Bonds / Fixed Income | 8.8% | 8.3% | +3.2% | 40% | 53% | 42% | – | 50 | 62 | Downtrend |
| JPIE JPMorgan Income ETF | Bonds / Fixed Income | 5.7% | 5.2% | +2.9% | 58% | 47% | 36% | – | 49 | 73 | Mixed |
| BUCK Simplify Treasury Option Income ETF | Bonds / Fixed Income | 6.3% | 6.9% | +3.2% | 49% | 14% | 1% | – | 48 | 66 | Downtrend |
| LDUR PIMCO Low Duration Active ETF | Bonds / Fixed Income | 4.3% | 3.8% | +2.5% | 69% | 36% | 26% | – | 48 | 76 | Mixed |
| HYGW iShares High Yield Corporate Bond BuyWrite Strategy ETF | Bonds / Fixed Income | 13.8% | 11.3% | +3.5% | 33% | 48% | 36% | – | 48 | 61 | Downtrend |
| LQDW iShares LQD Premium Income+ ETF (formerly IG Corporate BuyWrite) | Bonds / Fixed Income | 16.5% | 12.4% | +2.1% | 22% | 95% | 86% | – | 46 | 69 | Downtrend |
About FIAX
| Issuer | Nicholas X-Funds |
| Structure | ETF |
| Category | Bonds / Fixed Income |
| Strategy | Treasuries/fixed income plus an options overlay to boost income |
| Underlying | US Treasuries + index options |
| Exposure | Bonds / Treasuries |
| Index linkage | Partial - options/overlay on index |
| Pays | Monthly |
| Expense ratio | – |
| Launched | 2022-11 |
| Uses leverage | No |
| Upside capped | Yes |
| Rate sensitivity | Moderate |
| Return of capital common | Sometimes |
| Tax notes | Distributions may include ROC - verify 19a notices |
Research notes: Launched 2022-11-30.
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