ABHY vs. FIAX

Last updated Jun 4, 2026

ABHY (Abacus Tactical High Yield ETF) and FIAX (Nicholas Fixed Income Alternative ETF) are both Nontraditional Bonds funds. Both are actively managed. Over the past 3 years, ABHY returned 6.41%/yr vs 3.47%/yr for FIAX. At a 0.42 correlation, their price movements are largely independent. ABHY charges 0.63%/yr vs 1.04%/yr for FIAX.

Performance

ABHY vs. FIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Abacus Tactical High Yield ETF (ABHY) and Nicholas Fixed Income Alternative ETF (FIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ABHY achieves a 0.19% return, which is significantly lower than FIAX's 1.22% return.

ABHY

• 1D: -0.31%
• 1M: 0.32%
• YTD: 0.19%
• 6M: 0.47%
• 1Y: 5.34%
• 3Y*: 6.41%
• 5Y*: 1.12%
• 10Y*: —

FIAX

• 1D: -0.14%
• 1M: 0.50%
• YTD: 1.22%
• 6M: 1.19%
• 1Y: 4.66%
• 3Y*: 3.47%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ABHY vs. FIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ABHY Abacus Tactical High Yield ETF	0.19%	8.73%	4.69%	7.79%	-2.50%
FIAX Nicholas Fixed Income Alternative ETF	1.22%	2.33%	4.67%	3.44%	-0.30%

Correlation

The correlation between ABHY and FIAX is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (All Time) Calculated using the full available price history since Dec 1, 2022	0.42

The correlation between ABHY and FIAX shifts across timeframes, from 0.42 (all time) to 0.55 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ABHY vs. FIAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ABHY

ABHY Risk / Return Rank: 40
ABHY Sharpe Ratio Rank: 44
ABHY Sortino Ratio Rank: 43
ABHY Omega Ratio Rank: 45
ABHY Calmar Ratio Rank: 32
ABHY Martin Ratio Rank: 35

FIAX

FIAX Risk / Return Rank: 35
FIAX Sharpe Ratio Rank: 31
FIAX Sortino Ratio Rank: 31
FIAX Omega Ratio Rank: 31
FIAX Calmar Ratio Rank: 39
FIAX Martin Ratio Rank: 44

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ABHY vs. FIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Abacus Tactical High Yield ETF (ABHY) and Nicholas Fixed Income Alternative ETF (FIAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ABHY	FIAX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.13	+0.41
Sortino ratio: Return per unit of downside risk	2.18	1.67	+0.50
Omega ratio: Gain probability vs. loss probability	1.28	1.21	+0.08
Calmar ratio: Return relative to maximum drawdown	1.56	1.95	-0.39
Martin ratio: Return relative to average drawdown	5.28	7.11	-1.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ABHY vs. FIAX - Sharpe Ratio Comparison

The current ABHY Sharpe Ratio is 1.54, which is higher than the FIAX Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of ABHY and FIAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ABHY	FIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	1.13	+0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.81	-0.56

Drawdowns

ABHY vs. FIAX - Drawdown Comparison

The maximum ABHY drawdown since its inception was -16.96%, which is greater than FIAX's maximum drawdown of -6.26%. Use the drawdown chart below to compare losses from any high point for ABHY and FIAX.

Drawdown Indicators

	ABHY	FIAX	Difference
Max Drawdown Largest peak-to-trough decline	-16.96%	-6.26%	-10.70%
Max Drawdown (1Y) Largest decline over 1 year	-3.43%	-2.40%	-1.03%
Max Drawdown (3Y) Largest decline over 3 years	-3.81%	-6.26%	+2.45%
Max Drawdown (5Y) Largest decline over 5 years	-16.96%	—	—
Current Drawdown Current decline from peak	-1.60%	-0.32%	-1.28%
Average Drawdown Average peak-to-trough decline	-5.73%	-0.85%	-4.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	0.66%	+0.35%

Volatility

ABHY vs. FIAX - Volatility Comparison

The current volatility for Abacus Tactical High Yield ETF (ABHY) is 0.98%, while Nicholas Fixed Income Alternative ETF (FIAX) has a volatility of 1.43%. This indicates that ABHY experiences smaller price fluctuations and is considered to be less risky than FIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ABHY	FIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.98%	1.43%	-0.45%
Volatility (6M) Calculated over the trailing 6-month period	2.74%	3.40%	-0.66%
Volatility (1Y) Calculated over the trailing 1-year period	3.48%	4.14%	-0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.59%	4.05%	+1.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.44%	4.05%	+1.39%

ABHY vs. FIAX - Expense Ratio Comparison

ABHY has a 0.63% expense ratio, which is lower than FIAX's 1.04% expense ratio.

Dividends

ABHY vs. FIAX - Dividend Comparison

ABHY's dividend yield for the trailing twelve months is around 5.20%, less than FIAX's 8.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
ABHY Abacus Tactical High Yield ETF	5.20%	5.50%	15.35%	4.79%	3.18%	3.40%	0.37%
FIAX Nicholas Fixed Income Alternative ETF	8.19%	8.17%	8.11%	4.81%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ABHY and FIAX in my portfolio?

ABHY and FIAX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ABHY or FIAX?

FIAX has higher volatility (1.43%) compared to ABHY (0.98%). In terms of maximum drawdown, ABHY dropped -16.96% vs FIAX's -6.26%.

Which ETF is better, ABHY or FIAX?

On 3-year performance, ABHY leads with 6.41% vs 3.47% for FIAX. On fees, ABHY is cheaper at 0.63% per year. On volatility, ABHY has been the lower-risk option at 0.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ABHY or FIAX?

Over the 3-year period, ABHY has performed better with a 6.41% return vs 3.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ABHY or FIAX?

ABHY is cheaper with a 0.63% expense ratio, compared with 1.04% for FIAX.

Which ETF pays a higher dividend yield, ABHY or FIAX?

FIAX has the higher dividend yield at 8.19%, compared with 5.20% for ABHY.

What is the main difference between ABHY and FIAX?

They also come from different issuers: Abacus and Nicholas. Their fees differ too: 0.63% for ABHY and 1.04% for FIAX.

Which has better risk-adjusted returns?

ABHY currently has the higher Sharpe Ratio (1.54 vs 1.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.