Nicholas Fixed Income Alternative ETF (FIAX)

Assets	$136.16M
Expense Ratio	0.97%
PE Ratio	n/a
Shares Out	7.73M
Dividend (ttm)	$1.45
Dividend Yield	8.16%
Ex-Dividend Date	Apr 16, 2026
Payout Frequency	Monthly
Payout Ratio	n/a

Volume	23,078
Open	17.69
Previous Close	17.64
Day's Range	17.68 - 17.75
52-Week Low	17.29
52-Week High	18.32
Beta	0.20
Holdings	17
Inception Date	Nov 29, 2022

About FIAX

Fund Home Page

The Nicholas Fixed Income Alternative ETF (FIAX) is an exchange-traded fund that mostly invests in multi-strategy alternatives. The fund is an actively managed fund that seeks to provide income by holding a short-term portfolio of US Treasury securities and using a vertical option spread strategy across multiple asset classes. FIAX was launched on Nov 29, 2022 and is issued by Tidal.

• Asset Class: Alternatives
• Category: Nontraditional Bond
• Region: North America
• Stock Exchange: NYSEARCA
• Ticker Symbol: FIAX
• ETF Provider: Tidal

Top 10 Holdings

103.93% of assets

Name	Symbol	Weight
United States Treasury Notes 4.63%	T.4.625 10.15.26	24.79%
United States Treasury Notes 3.88%	T.3.875 06.15.28	24.73%
United States Treasury Bills 0%	B.0 05.12.26	23.92%
United States Treasury Bills 0%	B.0 09.03.26	21.88%
United States Treasury Bonds 4.5%	T.4.5 02.15.36	3.88%
Call On S&P 500 Jun26	n/a	2.70%
HYG US 06/18/26 P76	n/a	0.60%
US DOLLARS	n/a	0.57%
First American Government Obligations Fund	FGXXX	0.50%
Put On S&P 500 Jul26	n/a	0.35%

Dividend History

Ex-Dividend	Amount	Pay Date
Apr 16, 2026	$0.118	Apr 17, 2026
Mar 19, 2026	$0.117	Mar 20, 2026
Feb 19, 2026	$0.1199	Feb 20, 2026
Jan 15, 2026	$0.1207	Jan 16, 2026
Dec 18, 2025	$0.1209	Dec 19, 2025
Nov 20, 2025	$0.1203	Nov 21, 2025

Performance

FIAX had a total return of 7.86% in the past year, including dividends. Since the fund's inception, the average annual return has been 3.35%.