FIAX vs. ABXB

Last updated Aug 4, 2026

FIAX (Nicholas Fixed Income Alternative ETF) and ABXB (Abacus Flexible Bond Leaders ETF) are both Nontraditional Bonds funds. FIAX is actively managed, while ABXB is passively managed. Over the past 3 years, FIAX returned 3.36%/yr vs 5.69%/yr for ABXB. Their 0.43 correlation means their historical movements had little consistent relationship. FIAX charges 1.04%/yr vs 0.62%/yr for ABXB.

Performance

FIAX vs. ABXB - Performance Comparison

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

Returns By Period

In the year-to-date period, FIAX achieves a 1.83% return, which is significantly higher than ABXB's -0.54% return.

FIAX

• 1D: -0.09%
• 1M: -0.24%
• 6M: 1.17%
• YTD: 1.83%
• 1Y: 3.82%
• 3Y*: 3.36%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.23%

ABXB

• 1D: 0.28%
• 1M: -1.09%
• 6M: -1.07%
• YTD: -0.54%
• 1Y: 2.74%
• 3Y*: 5.69%
• 5Y*: 0.80%
• 10Y*: —
• ALL TIME*: 1.14%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ABXB Abacus Flexible Bond Leaders ETF	$3.06K	$8.10K	$14.04K
FIAX Nicholas Fixed Income Alternative ETF	$137.68K	$252.41K	$198.03K

FIAX vs. ABXB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FIAX Nicholas Fixed Income Alternative ETF	1.83%	2.33%	4.67%	3.44%	-0.37%
ABXB Abacus Flexible Bond Leaders ETF	-0.54%	8.73%	4.69%	7.79%	-1.25%

Correlation

The correlation between FIAX and ABXB is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.56
Correlation (3Y) Balances recent behavior with more history.	0.46
Correlation (All Time) Calculated using the full available price history since Nov 30, 2022	0.43

The correlation between FIAX and ABXB shifts across timeframes, from 0.43 (all time) to 0.56 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FIAX vs. ABXB — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FIAX

FIAX Risk / Return Rank: 41
FIAX Sharpe Ratio Rank: 38
FIAX Sortino Ratio Rank: 36
FIAX Omega Ratio Rank: 36
FIAX Calmar Ratio Rank: 43
FIAX Martin Ratio Rank: 50

ABXB

ABXB Risk / Return Rank: 26
ABXB Sharpe Ratio Rank: 29
ABXB Sortino Ratio Rank: 26
ABXB Omega Ratio Rank: 26
ABXB Calmar Ratio Rank: 25
ABXB Martin Ratio Rank: 26

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FIAX vs. ABXB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Fixed Income Alternative ETF (FIAX) and Abacus Flexible Bond Leaders ETF (ABXB). 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.

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.

	FIAX	ABXB	Difference
Sharpe ratio: Return per unit of total volatility	0.96	0.74	+0.22
Sortino ratio: Return per unit of downside risk	1.41	1.04	+0.37
Omega ratio: Gain probability vs. loss probability	1.18	1.13	+0.05
Calmar ratio: Return relative to maximum drawdown	1.60	0.80	+0.80
Martin ratio: Return relative to average drawdown	5.95	2.23	+3.73

FIAX vs. ABXB - Sharpe Ratio Comparison

The current FIAX Sharpe Ratio is 0.96, which is higher than the ABXB Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of FIAX and ABXB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FIAX vs. ABXB - Drawdown Comparison

The maximum FIAX drawdown since its inception was -6.26%, smaller than the maximum ABXB drawdown of -16.96%. Use the drawdown chart below to compare losses from any high point for FIAX and ABXB.

Drawdown Indicators

	FIAX	ABXB	Difference
Max Drawdown Largest peak-to-trough decline	-6.26%	-16.96%	+10.70%
Max Drawdown (1Y) Largest decline over 1 year	-2.40%	-3.43%	+1.03%
Max Drawdown (3Y) Largest decline over 3 years	-6.26%	-3.43%	-2.83%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.87%	—
Current Drawdown Current decline from peak	-0.24%	-2.32%	+2.08%
Average Drawdown Average peak-to-trough decline	-0.83%	-5.61%	+4.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.64%	1.23%	-0.59%

Volatility

FIAX vs. ABXB - Volatility Comparison

The current volatility for Nicholas Fixed Income Alternative ETF (FIAX) is 0.97%, while Abacus Flexible Bond Leaders ETF (ABXB) has a volatility of 1.18%. This indicates that FIAX experiences smaller price fluctuations and is considered to be less risky than ABXB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIAX	ABXB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.97%	1.18%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	3.08%	3.17%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	3.99%	3.72%	+0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.00%	5.63%	-1.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.00%	5.41%	-1.41%

FIAX vs. ABXB - Expense Ratio Comparison

FIAX has a 1.04% expense ratio, which is higher than ABXB's 0.62% expense ratio.

Dividends

FIAX vs. ABXB - Dividend Comparison

FIAX's dividend yield for the trailing twelve months is around 8.21%, more than ABXB's 5.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
ABXB Abacus Flexible Bond Leaders ETF	5.13%	5.50%	15.35%	4.79%	3.18%	3.40%	0.37%
FIAX Nicholas Fixed Income Alternative ETF	8.21%	8.17%	8.11%	4.81%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FIAX and ABXB in my portfolio?

FIAX and ABXB have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIAX or ABXB?

ABXB has higher volatility (1.18%) compared to FIAX (0.97%). In terms of maximum drawdown, FIAX dropped -6.26% vs ABXB's -16.96%.

Which ETF is better, FIAX or ABXB?

On 3-year performance, ABXB leads with 5.69% vs 3.36% for FIAX. On fees, ABXB is cheaper at 0.62% per year. On volatility, FIAX has been the lower-risk option at 0.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FIAX or ABXB?

Over the 3-year period, ABXB has performed better with a 5.69% return vs 3.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FIAX or ABXB?

ABXB is cheaper with a 0.62% expense ratio, compared with 1.04% for FIAX.

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

FIAX has the higher dividend yield at 8.21%, compared with 5.13% for ABXB.

What is the main difference between FIAX and ABXB?

They also come from different issuers: Nicholas and Abacus. Their fees differ too: 1.04% for FIAX and 0.62% for ABXB.

Which has better risk-adjusted returns?

FIAX currently has the higher Sharpe Ratio (0.96 vs 0.74), 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.