KNRG vs. FIAX

Last updated Jun 4, 2026

KNRG (Simplify Kayne Anderson Energy and Infrastructure Credit ETF) and FIAX (Nicholas Fixed Income Alternative ETF) are both Nontraditional Bonds funds. Both are actively managed. Over the past year, KNRG returned 9.32% vs 4.66% for FIAX. A 0.51 correlation means they provide meaningful diversification when combined. KNRG charges 0.76%/yr vs 1.04%/yr for FIAX.

Performance

KNRG vs. FIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Kayne Anderson Energy and Infrastructure Credit ETF (KNRG) 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, KNRG achieves a 2.38% return, which is significantly higher than FIAX's 1.22% return.

KNRG

• 1D: -0.13%
• 1M: 0.47%
• YTD: 2.38%
• 6M: 2.49%
• 1Y: 9.32%
• 3Y*: —
• 5Y*: —
• 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)

KNRG vs. FIAX - Yearly Performance Comparison

	2026 (YTD)	2025
KNRG Simplify Kayne Anderson Energy and Infrastructure Credit ETF	2.38%	7.33%
FIAX Nicholas Fixed Income Alternative ETF	1.22%	4.00%

Correlation

The correlation between KNRG and FIAX is 0.50, 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	0.50
Correlation (All Time) Calculated using the full available price history since May 29, 2025	0.51

The correlation between KNRG and FIAX has been stable across timeframes, ranging from 0.50 to 0.51 - a consistent structural relationship.

KNRG vs. FIAX - Sectors Allocation Comparison

Sectors	KNRG	FIAX
Utilities	100.0%	2.4%
Basic Materials	-	1.8%
Communication Services	-	11.2%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	4.9%
Energy	-	3.5%
Financial Services	-	11.8%
Healthcare	-	8.5%
Industrials	-	8.3%
Real Estate	-	1.9%
Technology	-	35.6%

Return for Risk

KNRG vs. FIAX — Risk / Return Rank

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

KNRG

KNRG Risk / Return Rank: 82
KNRG Sharpe Ratio Rank: 83
KNRG Sortino Ratio Rank: 88
KNRG Omega Ratio Rank: 89
KNRG Calmar Ratio Rank: 70
KNRG Martin Ratio Rank: 82

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.

KNRG vs. FIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Kayne Anderson Energy and Infrastructure Credit ETF (KNRG) 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.

	KNRG	FIAX	Difference
Sharpe ratio: Return per unit of total volatility	2.66	1.13	+1.53
Sortino ratio: Return per unit of downside risk	3.99	1.67	+2.32
Omega ratio: Gain probability vs. loss probability	1.56	1.21	+0.35
Calmar ratio: Return relative to maximum drawdown	3.46	1.95	+1.51
Martin ratio: Return relative to average drawdown	16.11	7.11	+9.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KNRG vs. FIAX - Sharpe Ratio Comparison

The current KNRG Sharpe Ratio is 2.66, which is higher than the FIAX Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of KNRG 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

	KNRG	FIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.66	1.13	+1.53
Sharpe Ratio (All Time) Calculated using the full available price history	2.77	0.81	+1.97

Drawdowns

KNRG vs. FIAX - Drawdown Comparison

The maximum KNRG drawdown since its inception was -2.71%, smaller than the maximum FIAX drawdown of -6.26%. Use the drawdown chart below to compare losses from any high point for KNRG and FIAX.

Drawdown Indicators

	KNRG	FIAX	Difference
Max Drawdown Largest peak-to-trough decline	-2.71%	-6.26%	+3.55%
Max Drawdown (1Y) Largest decline over 1 year	-2.71%	-2.40%	-0.31%
Max Drawdown (3Y) Largest decline over 3 years	—	-6.26%	—
Current Drawdown Current decline from peak	-0.13%	-0.32%	+0.19%
Average Drawdown Average peak-to-trough decline	-0.34%	-0.85%	+0.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	0.66%	-0.08%

Volatility

KNRG vs. FIAX - Volatility Comparison

The current volatility for Simplify Kayne Anderson Energy and Infrastructure Credit ETF (KNRG) is 0.74%, while Nicholas Fixed Income Alternative ETF (FIAX) has a volatility of 1.43%. This indicates that KNRG 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

	KNRG	FIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.74%	1.43%	-0.69%
Volatility (6M) Calculated over the trailing 6-month period	2.17%	3.40%	-1.23%
Volatility (1Y) Calculated over the trailing 1-year period	3.54%	4.14%	-0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.53%	4.05%	-0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.53%	4.05%	-0.52%

KNRG vs. FIAX - Expense Ratio Comparison

KNRG has a 0.76% expense ratio, which is lower than FIAX's 1.04% expense ratio.

Dividends

KNRG vs. FIAX - Dividend Comparison

KNRG's dividend yield for the trailing twelve months is around 6.95%, less than FIAX's 8.19% yield.

Position	TTM	2025	2024	2023
FIAX Nicholas Fixed Income Alternative ETF	8.19%	8.17%	8.11%	4.81%
KNRG Simplify Kayne Anderson Energy and Infrastructure Credit ETF	6.95%	4.22%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KNRG and FIAX in my portfolio?

KNRG and FIAX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KNRG or FIAX?

FIAX has higher volatility (1.43%) compared to KNRG (0.74%). In terms of maximum drawdown, KNRG dropped -2.71% vs FIAX's -6.26%.

Which ETF is better, KNRG or FIAX?

On 1-year performance, KNRG leads with 9.32% vs 4.66% for FIAX. On fees, KNRG is cheaper at 0.76% per year. On volatility, KNRG has been the lower-risk option at 0.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KNRG or FIAX?

Over the 1-year period, KNRG has performed better with a 9.32% return vs 4.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KNRG or FIAX?

KNRG is cheaper with a 0.76% expense ratio, compared with 1.04% for FIAX.

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

FIAX has the higher dividend yield at 8.19%, compared with 6.95% for KNRG.

What is the main difference between KNRG and FIAX?

They also come from different issuers: Simplify and Nicholas. Their fees differ too: 0.76% for KNRG and 1.04% for FIAX.

Which has better risk-adjusted returns?

KNRG currently has the higher Sharpe Ratio (2.66 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.