Nicholas Fixed Income Alternative ETF
Nicholas Fixed Alternative ETF (AMEX: FIAX) is an exchange-traded fund listed on NYSE Arca, trading at $17.36 (about ₹1,632 a unit) as of 9 Nov 2026, 3:59 PM ET. It has an expense ratio of 0.97% and holds 11 securities. Indian residents can buy FIAX through Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$17.33
Today's high
$17.36
52 week low
$16.93
52 week high
$18.30
FIAX opened at $17.36, closed previously at $17.34, and has traded between $16.93 and $18.30 over the past 52 weeks.
About
The Nicholas Fixed Income Alternative ETF is a dynamically managed fund that primarily allocates capital to U.S. government debt instruments, seeking to generate consistent income. This is achieved in part through a structured options strategy designed to yield premium income while managing potential losses, by utilizing options tied to exchange-traded funds that cover a broad range of asset categories.
Key statistics
Expense ratio
0.97%
Assets (AUM)
$120.8M
Holdings
11
NAV
$17.32
Avg. volume
13.22K
1-year price change
-3.58%
5-year price change
—
Price change excludes dividends.
Top 9 holdings
FIAX holds 11 securities in total. These 9 are 100.0% of the fund.
Where the money is invested
Sectors
Countries
How to buy FIAX from India
Indian residents can buy FIAX units through Paasa in four steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the units are held in your own name with Interactive Brokers. Read the full guide: how to invest in FIAX from India
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Search FIAX and buy
Find the fund by its ticker, FIAX, on NYSE Arca, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Track holdings and download tax reports
Follow your FIAX position in USD and INR, and use Paasa's capital-gains and dividend statements when you file your Indian return.
Trading and taxes when buying FIAX from India
Trading and limits
- Trading hours
- 9:30 am – 4:00 pm ET
- LRS limit
- $250,000Per financial year, under the RBI's Liberalised Remittance Scheme.
Tax for Indian residents
- TCS on remittance
- 20%Collected by your bank on LRS remittances above ₹10 lakh in a financial year. The TCS is adjustable against your income-tax liability.Adjusting TCS against your tax
- Capital gains in India
- Taxable in IndiaGains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling.
- Dividends
- Slab rateIt pays the dividends from its holdings out to you in cash, and dividends are taxed at your slab rate in India.Dividend tax explained
- US estate tax
- May applyUS-situs assets such as US-listed shares can be exposed to US estate tax for non-US persons.US estate tax calculator
FAQs
What is the FIAX price today?
Nicholas Fixed Alternative ETF (FIAX) last traded at $17.36 on NYSE Arca, as of 9 Nov 2026, 3:59 PM ET. That is ₹1,632 a unit at the 8 Nov 2026 USD/INR rate.
When does FIAX trade, in Indian time?
NYSE Arca trades 8:00 pm – 2:30 am IST, so the close lands after midnight. The window shifts to 7:00 pm – 1:30 am IST when the US is on daylight time. Orders can only execute during that window.
How big is FIAX, and what does it cost to hold?
Nicholas Fixed Alternative ETF manages about $120.8M. Its expense ratio is 0.97% a year, deducted inside the fund. It launched in 2022.
What are FIAX's largest holdings?
The top three are United States Treasury Note/Bond 3.875% 03/31/2031 (24.8%), United States Treasury Note/Bond 3.875% 04/15/2029 (24.8%) and United States Treasury Note/Bond 3.875% 06/15/2028 (24.3%). FIAX's 9 largest positions make up 100.0% of the fund.
Does FIAX pay dividends?
Yes. FIAX is a distributing fund and pays the dividends from its holdings out in cash. In India they are taxed at your slab rate.
How are gains on FIAX taxed in India?
Gains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling.
Can I buy fractional units of FIAX?
Yes. You can buy FIAX by amount rather than by whole unit, and there is no minimum trade size.
How has FIAX performed?
FIAX's price is down 3.6% over the past year. These figures are price change only and exclude dividends; past performance does not guarantee future returns.