NIHI vs. GIAX

Last updated Jun 3, 2026

NIHI (NEOS MSCI EAFE High Income ETF) and GIAX (Nicholas Global Equity and Income ETF) are both Derivative Income funds. Both are actively managed. A 0.66 correlation means they provide meaningful diversification when combined. NIHI charges 0.68%/yr vs 0.97%/yr for GIAX.

Performance

NIHI vs. GIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS MSCI EAFE High Income ETF (NIHI) and Nicholas Global Equity and Income ETF (GIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NIHI achieves a 6.39% return, which is significantly lower than GIAX's 25.75% return.

NIHI

• 1D: 0.41%
• 1M: 2.67%
• YTD: 6.39%
• 6M: 9.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GIAX

• 1D: 0.59%
• 1M: 17.90%
• YTD: 25.75%
• 6M: 24.62%
• 1Y: 36.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NIHI vs. GIAX - Yearly Performance Comparison

	2026 (YTD)	2025
NIHI NEOS MSCI EAFE High Income ETF	6.39%	5.33%
GIAX Nicholas Global Equity and Income ETF	25.75%	0.02%

Correlation

The correlation between NIHI and GIAX is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025	0.66

NIHI vs. GIAX - Sectors Allocation Comparison

Sectors	NIHI	GIAX
Financial Services	22.9%	14.0%
Industrials	20.5%	5.8%
Technology	10.2%	36.5%
Healthcare	9.8%	3.1%
Consumer Cyclical	8.2%	11.8%
Basic Materials	6.6%	4.4%
Consumer Defensive	6.4%	1.4%
Communication Services	4.5%	14.8%
Energy	4.0%	1.3%
Utilities	3.8%	4.0%
Real Estate	3.1%	2.9%

Return for Risk

NIHI vs. GIAX — Risk / Return Rank

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

GIAX

GIAX Risk / Return Rank: 47
GIAX Sharpe Ratio Rank: 48
GIAX Sortino Ratio Rank: 46
GIAX Omega Ratio Rank: 48
GIAX Calmar Ratio Rank: 43
GIAX Martin Ratio Rank: 52

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.

NIHI vs. GIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS MSCI EAFE High Income ETF (NIHI) and Nicholas Global Equity and Income ETF (GIAX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	NIHI	GIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.70	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	1.07	+0.09

Drawdowns

NIHI vs. GIAX - Drawdown Comparison

The maximum NIHI drawdown since its inception was -10.88%, smaller than the maximum GIAX drawdown of -20.38%. Use the drawdown chart below to compare losses from any high point for NIHI and GIAX.

Drawdown Indicators

	NIHI	GIAX	Difference
Max Drawdown Largest peak-to-trough decline	-10.88%	-20.38%	+9.50%
Max Drawdown (1Y) Largest decline over 1 year	—	-17.62%	—
Current Drawdown Current decline from peak	-0.63%	0.00%	-0.63%
Average Drawdown Average peak-to-trough decline	-2.39%	-2.99%	+0.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.06%	—

Volatility

Volatility by Period

	NIHI	GIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.20%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.58%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.14%	21.56%	-6.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.14%	21.37%	-6.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.14%	21.37%	-6.23%

NIHI vs. GIAX - Expense Ratio Comparison

NIHI has a 0.68% expense ratio, which is lower than GIAX's 0.97% expense ratio.

Dividends

NIHI vs. GIAX - Dividend Comparison

NIHI's dividend yield for the trailing twelve months is around 7.79%, less than GIAX's 21.69% yield.

Position	TTM	2025	2024
GIAX Nicholas Global Equity and Income ETF	21.69%	25.62%	10.58%
NIHI NEOS MSCI EAFE High Income ETF	7.79%	3.44%	0.00%

Frequently Asked Questions

Can I hold both NIHI and GIAX in my portfolio?

NIHI and GIAX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NIHI or GIAX?

On fees, NIHI is cheaper at 0.68% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NIHI or GIAX?

NIHI is cheaper with a 0.68% expense ratio, compared with 0.97% for GIAX.

Which ETF pays a higher dividend yield, NIHI or GIAX?

GIAX has the higher dividend yield at 21.69%, compared with 7.79% for NIHI.

What is the main difference between NIHI and GIAX?

They also come from different issuers: Neos and Nicholas. Their fees differ too: 0.68% for NIHI and 0.97% for GIAX.