Nicholas Global Equity and Income ETF
$16.43−0.12 (−0.72%)
- Expense ratio
- 1.03%
- Fund size
- $113M
- 1Y return
- +19.4%
- Yield · Last 12 months
- 25.29%
- Holdings
- 29
- Volume · 30D
- 0.1M sh
- NAV per share
- $15.98
- 52W range
The ETF.net GIAX Grade
Score 33 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 23Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 25Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.DScore 38Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.BScore 63Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.CScore 54Category rank
Our read on GIAX
DMost income ETFs sell calls on the stocks they hold. GIAX runs a global equity core plus daily credit call spreads on US indices, where a further-out long call caps each short. Income first, paid monthly.
The actively managed ETF primarily seeks current income and secondarily seeks capital appreciation. It combines global-equity exposure through passive ETFs or representative securities with daily index credit call spreads and Treasury or cash holdings.
Why people hold it
- The option engine uses credit call spreads, so each short call is paired with a further out-of-the-money long call that caps the loss on that position.
- Equity sleeve is global and built from passive ETFs or representative securities, with Treasuries and cash sitting alongside the option book.
- The mandate puts current income first and capital appreciation second, and the fund distributes monthly.
- Actively managed inside a standard 1940 Act fund, so no K-1 and no commodity-pool paperwork at tax time.
Worth knowing
- The fee is 1.03% a year, high for this corner of the market. Several option-income peers run far cheaper, such as YLDE at 0.47% and NBOS at 0.59%.
- Distributions can include return of capital, which hands back part of your own money and lowers your cost basis instead of adding to it.
- Launched in 2024 with a compact book of around 29 positions, and selling index call spreads daily limits how much of a strong rally the fund keeps.
GIAX Holdings
- Stocks
- 29
- 56%
- VEA
Sectors
Geography
GIAX Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | GIAX |
|---|---|
| Year to date | +19.9% |
| 1 month | +4.9% |
| 3 months | −1.5% |
| 1 year | +19.4% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | GIAX |
|---|---|---|
| 2026 YTD | +19.9% | |
| 2025 | +11.7% | |
| 2024 | +3.8% |
GIAX in the news
ETF.net Research hasn’t filed on GIAX yet — coverage lands here as it’s written.
GIAX Dividends
- 25.29%
- $4.18
- $0.07 per share
- Weekly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 18, 2026 | Sep 21, 2026 | $0.07 |
| Sep 11, 2026 | Sep 14, 2026 | $0.08 |
| Sep 4, 2026 | Sep 8, 2026 | $0.07 |
| Aug 28, 2026 | Aug 31, 2026 | $0.07 |
| Aug 21, 2026 | Aug 24, 2026 | $0.07 |
| Aug 14, 2026 | Aug 17, 2026 | $0.07 |
| Aug 7, 2026 | Aug 10, 2026 | $0.07 |
| Jul 31, 2026 | Aug 3, 2026 | $0.07 |
| Jul 24, 2026 | Jul 27, 2026 | $0.07 |
| Jul 17, 2026 | Jul 20, 2026 | $0.07 |
| Jul 10, 2026 | Jul 13, 2026 | $0.07 |
| Jul 6, 2026 | Jul 7, 2026 | $0.08 |
GIAX Risk
- 21.2%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.53
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −20.3%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.39
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
GIAX Cost
- The middle half of Index Option Income funds
- Median 0.81%
18 of the 25 Index Option Income funds charge less.