FIAX Stock, Nicholas Fixed Income Alternative ETF Information

The Nicholas Fixed Income Alternative ETF seeks current income. The Fund is an actively managed exchange-traded fund (ETF) that seeks to provide income using short-term U.S. Treasury fixed income securities and a defined risk option premium. The Funds defined risk option premium strategy uses options on ETFs and securities indices across multiple asset classes (e.g., equities, commodities, fixed income). The Funds option positions will be comprised of vertical credit spreads and vertical debit spreads (described more below) that aim to capture a premium representing a combination of dividends and growth of the underlying assets.