GIAX ETF — Holdings & Analysis

The Nicholas Global Equity and Income ETF (GIAX) is an actively managed fund that aims to generate both current income and capital appreciation. Unlike passively managed ETFs that track a specific index, GIAX employs a dual strategy. It invests in shares of other ETFs that provide exposure to global equity securities, and it sells daily index credit call spreads on U.S. equity indexes. This combination seeks to capture potential upside from global equities while generating income from the options strategy. The fund's holdings include ETFs focused on developed markets, emerging markets, and various market capitalizations within the U.S.

The expense ratio for GIAX is 0.93%. This means that for every $10,000 invested in the fund, $93 is used to cover the fund's operating expenses annually. While this expense ratio provides access to an actively managed strategy that combines global equity exposure with income generation, it is higher than the average expense ratio for passively managed equity ETFs, which can be significantly lower, sometimes below 0.20%.

As of 2026-03-15, the top holdings in GIAX are primarily ETFs that provide broad exposure to global equity markets. These include the Vanguard FTSE Developed Markets ETF (VEA) at 11.60%, offering exposure to developed markets outside the U.S., and the Freedom 100 Emerging Markets ETF (FRDM) at 9.37%, which focuses on emerging markets. Additionally, the fund holds the Vanguard Small-Cap ETF (VB) at 7.73%, providing exposure to small-cap U.S. stocks.

Whether GIAX is a suitable long-term investment depends on an individual's investment goals, risk tolerance, and time horizon. GIAX's active management and options strategy differentiate it from passively managed ETFs, potentially offering the opportunity for outperformance but also introducing additional risk. The fund's expense ratio of 0.93% should be considered, as it can impact long-term returns. Past performance does not guarantee future results, and investors should carefully evaluate GIAX's strategy and risk profile before investing.

GIAX distinguishes itself from many other global equity ETFs through its active management and use of a daily index credit call spread strategy. While many global equity ETFs are passively managed and track a specific index, GIAX aims to generate both income and capital appreciation through its dual strategy. Its expense ratio of 0.93% is higher than many passively managed ETFs. With AUM of $0.07 billion, GIAX is smaller than some of the larger, more established global equity ETFs, which can have AUM in the tens or hundreds of billions of dollars.

According to the latest data, GIAX has a dividend yield of 0.00%. This indicates that the fund is not currently distributing any dividends to its shareholders. While the fund's investment strategy includes generating current income, this income may be reinvested within the fund or used to offset expenses, rather than being distributed as dividends. Investors seeking dividend income may want to consider other ETFs with a higher dividend yield.