BHDGNicholas Bitcoin Tail ETF
Seeks long-term capital appreciation.
By Nicholas Wealth, LLC · Launched 2026
0.97%
#4,819 of 5,562 · expensive
$14M
#4,606 of 5,562 · small
—
3 months
#5,282 of 5,562 · young
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
Classification
How Beacon categorizes this fundAsset class
CryptocurrencyStrategy
Option income
What it actually holds
By weightConcentration
Top 1 holdings = 81.2% of fundconcentrated
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsWorst peak-to-trough loss
Needs 3+ years of history
Needs 3+ years of history
Where to buy
Listing
- Exchange
- NASDAQ Global Select Market
Full fund details
- Objective
- Seeks long-term capital appreciation.
- Strategy
- Employs an options-based strategy to hedge against significant declines in bitcoin prices. Actively managed, the portfolio primarily consists of exchange-listed options on U.S.-listed ETPs and ETFs.
- Inception date
- March 3, 2026
- Fund family
- Nicholas Wealth, LLC
Similar ETFs
Closest matches by profileOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Covered call ETF — yield ≠ total return
The high distribution yield is not free income — it comes from selling upside via call options. Research finds these strategies systematically underperform their underlying index over full cycles, typically by 100–300 basis points per year depending on the option-overlay design. The monthly distributions make the shortfall hard to see in return summaries.
Source: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)
Why we flagged this: strategy=option_income + option_income_strategy
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
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Data updated on 2026-06-19