FIAXNicholas Fixed Income Alternative ETF
Seeks current income.
By Nicholas Wealth Management · Launched 2022
0.97%
#4,819 of 5,562 · expensive
$133M
#2,674 of 5,562 · mid-size
8.16%
3 years
#2,869 of 5,562 · seasoned
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
Classification
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 10 holdings = 101.5% of fundconcentrated
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Bond profile
Duration
4.1 years
Avg maturity
10.0 years
Credit ratings
Where to buy
Listing
- Exchange
- NYSE Arca
Full fund details
- Objective
- Seeks current income.
- Strategy
- Actively managed fund that invests primarily in short-term U.S. Treasury fixed income securities and utilizes a defined risk option premium to generate income.
- Inception date
- November 29, 2022
- Fund family
- Nicholas Wealth Management
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