- CUSIP
- 88636J162
- Issuer
- Nicholas
- Inception Date
- Jul 29, 2024
- Category
- Derivative Income
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $89M
Share Price Chart
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Performance
GIAX Performance Chart
Nicholas Global Equity and Income ETF (GIAX) is up 18.0% since the beginning of the year. GIAX is currently trading at $17 per share.
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Returns By Period
Nicholas Global Equity and Income ETF (GIAX) has returned 18.01% so far this year and 26.16% over the past 12 months.
Nicholas Global Equity and Income ETF
- 1D
- -2.97%
- 1M
- 3.34%
- YTD
- 18.01%
- 6M
- 15.43%
- 1Y
- 26.16%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
GIAX Monthly Returns History
Based on dividend-adjusted daily data since Jul 30, 2024, GIAX's average daily return is +0.07%, while the average monthly return is +1.42%. At this rate, an investment would double in approximately 4.1 years.
Historically, 63% of months were positive and 38% were negative. The best month was May 2026 with a return of +15.8%, while the worst month was Mar 2026 at -7.1%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 2 months.
On a daily basis, GIAX closed higher 57% of trading days. The best single day was Apr 9, 2025 with a return of +9.9%, while the worst single day was Apr 4, 2025 at -6.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.97% | -2.93% | -7.07% | 15.16% | 15.78% | -2.82% | 18.01% | ||||||
| 2025 | 2.68% | -2.99% | -6.48% | 2.14% | 7.85% | 4.09% | 1.69% | 0.69% | 2.33% | 2.56% | -1.04% | -1.65% | 11.73% |
| 2024 | 0.26% | 0.72% | 1.61% | -0.76% | 4.77% | -3.51% | 2.94% |
Benchmark Metrics
Nicholas Global Equity and Income ETF has an annualized alpha of -0.63%, beta of 1.12, and R2 of 0.72 versus S&P 500 Index. Calculated based on daily prices since July 30, 2024.
- This ETF participated in 124.63% of S&P 500 Index downside but only 116.78% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 1.12 and R2 of 0.72, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -0.63%
- Beta
- 1.12
- R²
- 0.72
- Upside Capture
- 116.78%
- Downside Capture
- 124.63%
Expense Ratio
GIAX has a high expense ratio of 0.97%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
GIAX ranks 34 for risk / return — below 34% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Nicholas Global Equity and Income ETF (GIAX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GIAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.32 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 2.46 | -0.96 |
| Martin ratioReturn relative to average drawdown | 6.10 | 10.92 | -4.81 |
Dividends
Dividend History
Nicholas Global Equity and Income ETF provided a 24.84% dividend yield over the last twelve months, with an annual payout of $4.30 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $4.30 | $4.21 | $1.98 |
Dividend yield | 24.84% | 25.62% | 10.58% |
Monthly Dividends
The table displays the monthly dividend distributions for Nicholas Global Equity and Income ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.39 | $0.29 | $0.28 | $0.28 | $0.38 | $0.24 | $1.86 | ||||||
| 2025 | $0.38 | $0.37 | $0.35 | $0.33 | $0.35 | $0.36 | $0.36 | $0.35 | $0.36 | $0.36 | $0.34 | $0.31 | $4.21 |
| 2024 | $0.40 | $0.40 | $0.40 | $0.40 | $0.38 | $1.98 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Nicholas Global Equity and Income ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Nicholas Global Equity and Income ETF was 20.38%, occurring on Apr 8, 2025. Recovery took 47 trading sessions.
The current Nicholas Global Equity and Income ETF drawdown is 6.15%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -20.38%Apr 2025 | 1mo 17d | 2mo 9d | 3mo 26dFeb 2025 - Jun 2025 |
2026 correction2026 | -17.62%Mar 2026 | 2mo 16d | 18d | 3mo 4dJan 2026 - Apr 2026 |
2026 pullback2026 | -9.47%Jun 2026 | 7d | — | 21d 4hJun 2026 - now |
2025 pullback2025 | -6.63%Dec 2025 | 6d | 26d | 1mo 2dDec 2025 - Jan 2026 |
2025 pullback2025 | -6.55%Nov 2025 | 17d | 14d | 1mo 1dNov 2025 - Dec 2025 |
Drawdown Indicators
| GIAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.38% | -56.78% | +36.40% |
Max Drawdown (1Y)Largest decline over 1 year | -17.62% | -9.10% | -8.52% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -6.15% | -3.21% | -2.94% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -10.71% | +7.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.30% | 2.04% | +2.26% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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