FIAX vs. SPYM
Compare and contrast key facts about Nicholas Fixed Income Alternative ETF (FIAX) and State Street SPDR Portfolio S&P 500 ETF (SPYM).
FIAX and SPYM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FIAX is an actively managed fund by Nicholas. It was launched on Nov 29, 2022. SPYM is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Nov 8, 2005.
Performance
FIAX vs. SPYM - Performance Comparison
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FIAX vs. SPYM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FIAX Nicholas Fixed Income Alternative ETF | -0.92% | 2.33% | 4.67% | 3.44% | -0.30% |
SPYM State Street SPDR Portfolio S&P 500 ETF | -4.35% | 17.79% | 25.00% | 26.24% | -5.66% |
Returns By Period
In the year-to-date period, FIAX achieves a -0.92% return, which is significantly higher than SPYM's -4.35% return.
FIAX
- 1D
- 0.66%
- 1M
- -1.18%
- YTD
- -0.92%
- 6M
- 0.75%
- 1Y
- 2.45%
- 3Y*
- 2.79%
- 5Y*
- —
- 10Y*
- —
SPYM
- 1D
- 2.90%
- 1M
- -4.99%
- YTD
- -4.35%
- 6M
- -1.77%
- 1Y
- 17.73%
- 3Y*
- 18.27%
- 5Y*
- 11.77%
- 10Y*
- 14.13%
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FIAX vs. SPYM - Expense Ratio Comparison
FIAX has a 1.04% expense ratio, which is higher than SPYM's 0.02% expense ratio.
Return for Risk
FIAX vs. SPYM — Risk / Return Rank
FIAX
SPYM
FIAX vs. SPYM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nicholas Fixed Income Alternative ETF (FIAX) and State Street SPDR Portfolio S&P 500 ETF (SPYM). 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.
| FIAX | SPYM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.55 | 0.98 | -0.43 |
Sortino ratioReturn per unit of downside risk | 0.80 | 1.49 | -0.69 |
Omega ratioGain probability vs. loss probability | 1.10 | 1.23 | -0.13 |
Calmar ratioReturn relative to maximum drawdown | 0.65 | 1.53 | -0.89 |
Martin ratioReturn relative to average drawdown | 2.59 | 7.31 | -4.73 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FIAX | SPYM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.55 | 0.98 | -0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.70 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.79 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 0.58 | +0.11 |
Correlation
The correlation between FIAX and SPYM is 0.48, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
FIAX vs. SPYM - Dividend Comparison
FIAX's dividend yield for the trailing twelve months is around 8.30%, more than SPYM's 1.16% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIAX Nicholas Fixed Income Alternative ETF | 8.30% | 8.17% | 8.11% | 4.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPYM State Street SPDR Portfolio S&P 500 ETF | 1.16% | 1.13% | 1.28% | 1.44% | 1.69% | 1.25% | 1.54% | 1.79% | 2.23% | 1.75% | 1.97% | 1.98% |
Drawdowns
FIAX vs. SPYM - Drawdown Comparison
The maximum FIAX drawdown since its inception was -6.26%, smaller than the maximum SPYM drawdown of -54.46%. Use the drawdown chart below to compare losses from any high point for FIAX and SPYM.
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Drawdown Indicators
| FIAX | SPYM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.26% | -54.46% | +48.20% |
Max Drawdown (1Y)Largest decline over 1 year | -3.66% | -12.02% | +8.36% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.48% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.87% | — |
Current DrawdownCurrent decline from peak | -1.70% | -6.26% | +4.56% |
Average DrawdownAverage peak-to-trough decline | -0.87% | -7.21% | +6.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 2.52% | -1.60% |
Volatility
FIAX vs. SPYM - Volatility Comparison
The current volatility for Nicholas Fixed Income Alternative ETF (FIAX) is 1.58%, while State Street SPDR Portfolio S&P 500 ETF (SPYM) has a volatility of 5.28%. This indicates that FIAX experiences smaller price fluctuations and is considered to be less risky than SPYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIAX | SPYM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | 5.28% | -3.70% |
Volatility (6M)Calculated over the trailing 6-month period | 3.16% | 9.46% | -6.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.47% | 18.24% | -13.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.01% | 16.81% | -12.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.01% | 17.99% | -13.98% |