Nicholas Global Equity and Income ETF (GIAX) Holdings

For informational purposes only. Not financial advice.

Quick Answer

Nicholas Global Equity and Income ETF (GIAX) has a last stored price of $16.30, as of the Oct 2, 2026 trading session. It has a 0.93% expense ratio and $72M in assets under management.

Holdings and weights below are as of Mar 15, 2026. In the stored portfolio snapshot, the largest listed holding is Vanguard FTSE Developed Markets ETF (VEA) at 11.60%, and the largest sector allocation is Technology at 36.8%.

Nicholas Global Equity and Income ETF (GIAX) ETF — Price, Holdings & Analysis

ETF Overview

GIAX is an actively managed ETF that seeks to provide investors with both current income and capital appreciation. The fund achieves this through a dual strategy: first, by investing in shares of unaffiliated, passively managed ETFs that offer exposure to global equity securities; and second, by selling daily index credit call spreads on U.S. equity indexes. This approach allows GIAX to participate in the potential upside of global equity markets while simultaneously generating income through its options strategy. The fund's top holdings reflect its global equity focus, with significant allocations to ETFs like the Vanguard FTSE Developed Markets ETF (VEA) at 11.60%, the Freedom 100 Emerging Markets ETF (FRDM) at 9.37%, and the Vanguard Small-Cap ETF (VB) at 7.73%. Individual stock holdings include Taiwan Semiconductor Manufacturing Co Ltd ADR (TSM) at 5.34%, Meta Platforms Inc Class A (META) at 4.23%, and Alphabet Inc Class A (GOOGL) at 4.08%. The fund's sector allocation is heavily weighted towards Technology (36.8%) and Communication Services (15.6%).

Risk Metrics

GIAX carries several risks inherent to its investment strategy. Its active management approach introduces the risk of underperformance relative to its benchmark or passively managed peers. The fund's concentration in specific sectors, particularly Technology (36.8%) and Communication Services (15.6%), exposes it to sector-specific risks and potential volatility. The fund's beta of 0.00 (3Y) suggests very low volatility relative to the market, but this may not fully capture the risk associated with its options strategy. The expense ratio of 0.93% is relatively high, which can create a significant drag on performance over time, especially when compared to lower-cost passive alternatives. The fund's relatively small AUM of $0.07 billion could also pose liquidity risks.

Beta: 0.00

Expense Ratio

0.93%

What does GIAX hold?

Holding	Weight
Vanguard FTSE Developed Markets ETF (VEA)	11.60%
Freedom 100 Emerging Markets ETF (FRDM)	9.37%
Vanguard Small-Cap ETF (VB)	7.73%
Vanguard S&P 500 ETF (VOO)	7.23%
Vanguard Mid-Cap Growth ETF (VOT)	7.10%
Vanguard Growth ETF (VUG)	6.63%
Taiwan Semiconductor Manufacturing Co Ltd ADR (TSM)	5.34%
Meta Platforms Inc Class A (META)	4.23%
Alphabet Inc Class A (GOOGL)	4.08%
Nebius Group NV Shs Class-A- (NBIS)	3.98%

Holdings and weights as of Mar 15, 2026. This fund data is more than 45 days old; verify current holdings with the issuer.

How Is the Fund Allocated?

Sector	Weight
Technology	36.8%
Communication Services	15.6%
Financial Services	13.8%
Consumer Cyclical	13.1%
Industrials	7.0%
Healthcare	4.0%
Real Estate	3.3%
Basic Materials	2.3%
Consumer Defensive	1.7%
Energy	1.3%
Utilities	1.3%

Country	Weight
United States	86.7%
Taiwan (Province of China)	5.0%
Netherlands	5.1%
Australia	3.6%

Dividend Yield

0.00%

ARK Innovation ETF (ARKK) — 0.75% expense ratio
Invesco QQQ Trust, Series 1 (QQQ) — 0.18% expense ratio
State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) — 0.16% expense ratio
State Street Energy Select Sector SPDR ETF (XLE) — 0.08% expense ratio
State Street Technology Select Sector SPDR ETF (XLK) — 0.08% expense ratio
WisdomTree Emerging Markets ESG Fund (DVEM) — 0.32% expense ratio
Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM) — 0.59% expense ratio
iShares MSCI EAFE ETF (EFA) — 0.32% expense ratio

Nicholas Fixed Income Alternative ETF (FIAX) (Fixed Income) — 0.95% expense ratio

Questions & Answers

What is GIAX and what does it track?

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.

What is the expense ratio for GIAX?

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%.

What are the top holdings in GIAX?

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.

Is GIAX a good long-term investment?

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.

How does GIAX compare to similar ETFs?

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.

Does GIAX pay dividends?

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.

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

Data provided for informational purposes only.

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