FIAX – Nicholas Fixed Income Alternative ETF

Nicholas Fixed Income Alternative ETF (FIAX) is a Nontraditional Bond ETF, issued by Nicholas Wealth Management, $151M in assets, 1.04% expense ratio.

Returns as of Oct 23, 2026: 1 week +0.4%, 1 year +1.4%.

Invests 80%+ in U.S. Treasury securities, writes index options, and uses credit spreads. Non-diversified.

Top holdings

• FGXXX – First American Funds Inc. - Government Obligations Fund, 0.5%

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