Continue to site >
Trending ETFs
You have successfully subscribed to Advisor Access. Thank you!
Help us personalize your experience.
Which type of investor describes you best?
Help us personalize your experience.
What is your AUM?
Knowing your investable assets will help us build and prioritize features that will suit your investment needs.

Congratulations on personalizing your experience.

Email is verified. Thank you!

Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Nicholas Bitcoin Tail ETF

BHDG | ETF

$23.69

-

0.00%

-

Vitals

YTD Return

N/A

1 yr return

N/A

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$N/A

Holdings in Top 10

N/A

52 WEEK LOW AND HIGH

$23.4
$22.65
$26.67

Expenses

OPERATING FEES

Expense Ratio N/A

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Nicholas Bitcoin Tail ETF

BHDG | ETF

$23.69

-

0.00%

-

BHDG - Profile

Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Nicholas Bitcoin Tail ETF
  • Fund Family Name
    N/A
  • Inception Date
    Mar 18, 2026
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by implementing an options-based strategy designed to hedge against significant declines in the price of bitcoin and/or bitcoin-related investments. The Fund is designed for investors that are seeking such a hedge or seeking to benefit from a decline in the price of bitcoin.

Under normal market conditions, the Fund’s portfolio will primarily consist of:

● Exchange-listed options on (i) U.S.-listed exchange-traded products (“ETPs”) and/or ETFs that seek to track the price performance of bitcoin (together, “Bitcoin Underlying Funds”) or (ii) an index designed to reflect the price performance of bitcoin (“Bitcoin Index”), which are intended to provide downside protection during periods of significant declines in the price of bitcoin; and
● Sold call options or call spread positions (simultaneously buying a long call option while writing a short call option on the same underlying asset, with different strike prices (i.e., the predetermined, fixed price at which the owner of a call option can buy, or the holder of a put option can sell, the underlying security) but the same expiration date) on Bitcoin Underlying Funds and/or a Bitcoin Index, which are used to help finance the cost of purchasing the Fund’s long put options.

The Adviser actively manages the Fund’s options exposure on a rolling basis, adjusting strike prices, maturities, and positioning in response to changing volatility and market conditions. Option positions are expected to have maturities generally of one year or less.

The Fund seeks to perform as follows during the indicated market scenarios:

- Bitcoin declines sharply. The Fund’s long put options on bitcoin are designed to rise in value as bitcoin prices fall. While the short call spreads may lose some value in this environment, the appreciation in the long put options is expected to more than offset those losses, resulting in net gains for the Fund.
- Bitcoin remains stable. The long put options held by the Fund may expire worthless, resulting in a loss equal to the net premium paid for those positions.
-

Bitcoin rises in value. The long put options will lose value as bitcoin’s price increases, and the sold call options or call spread positions may also detract from performance. Losses are expected to be capped at the maximum loss of the call spreads, but may exceed the net premium paid for the Fund’s long put option positions.

There is no guarantee that the Fund will perform as intended or that the Fund’s strategy of limiting outsized downside risk will be effective. The Fund does not invest directly in bitcoin or any other digital assets. The Fund does not invest in or seek direct exposure to the current “spot” or cash price of bitcoin. Investors seeking direct exposure to the price of bitcoin should consider an investment other than the Fund. Although bitcoin may be referred to as a “cryptocurrency,” it is not yet widely accepted as a means of payment.

Collateral

As part of the Fund’s strategy, the Fund holds collateral investments. The Fund expects to invest in U.S. Treasury bills, money market funds, cash and cash equivalents (e.g., high quality commercial paper and similar instruments that are rated investment grade or, if unrated, of comparable quality, as the Fund’s investment sub-adviser, Nicholas Wealth, LLC (the “Sub-Adviser”) determines), that provide liquidity, serve as margin or collateralize the Fund’s investments in derivative instruments.

Other Fund Attributes

Under normal circumstances, the Fund will invest at least 80% of the value of its assets, plus borrowings for investment purposes, in securities and/or instruments that provide exposure to bitcoin. Derivatives will be valued at notional value for the purposes of this policy.

The Fund’s strategy is expected to result in a high annual portfolio turnover rate.

The Fund is classified as “non-diversified” under the 1940 Act.

Read More

BHDG - Performance

Return Ranking - Trailing

Period BHDG Return Category Return Low Category Return High Rank in Category (%)
YTD N/A N/A N/A N/A
1 Yr N/A N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period BHDG Return Category Return Low Category Return High Rank in Category (%)
2025 N/A N/A N/A N/A
2024 N/A N/A N/A N/A
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A

Total Return Ranking - Trailing

Period BHDG Return Category Return Low Category Return High Rank in Category (%)
YTD N/A N/A N/A N/A
1 Yr N/A N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period BHDG Return Category Return Low Category Return High Rank in Category (%)
2025 N/A N/A N/A N/A
2024 N/A N/A N/A N/A
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A

BHDG - Holdings

Concentration Analysis

BHDG Category Low Category High BHDG % Rank
Net Assets N/A N/A N/A N/A
Number of Holdings N/A N/A N/A N/A
Net Assets in Top 10 N/A N/A N/A N/A
Weighting of Top 10 N/A N/A N/A N/A

Top 10 Holdings

Asset Allocation

Weighting Return Low Return High BHDG % Rank
Stocks 		0.00% N/A N/A N/A
Preferred Stocks 		0.00% N/A N/A N/A
Other 		0.00% N/A N/A N/A
Convertible Bonds 		0.00% N/A N/A N/A
Cash 		0.00% N/A N/A N/A
Bonds 		0.00% N/A N/A N/A

BHDG - Expenses

Operational Fees

BHDG Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio N/A N/A N/A N/A
Management Fee N/A N/A N/A N/A
12b-1 Fee N/A N/A N/A N/A
Administrative Fee N/A N/A N/A N/A

Sales Fees

BHDG Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A N/A N/A N/A

Trading Fees

BHDG Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

BHDG Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A N/A N/A N/A

BHDG - Distributions

Dividend Yield Analysis

BHDG Category Low Category High BHDG % Rank
Dividend Yield 0.00% N/A N/A N/A

Dividend Distribution Analysis

BHDG Category Low Category High Category Mod
Dividend Distribution Frequency None

Net Income Ratio Analysis

BHDG Category Low Category High BHDG % Rank
Net Income Ratio N/A N/A N/A N/A

Capital Gain Distribution Analysis

BHDG Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

View More +

BHDG - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A

Advertisement

×

Wait! Do you know all the important aspects of mutual funds?

×

Free Advisor Access newsletter emailed to you.

Receive free and exclusive email updates for financial advisors about best performers, news, CE accredited webcasts and more.

Sign up for Advisor Access

Receive email updates about best performers, news, CE accredited webcasts and more.

Disclaimer: By registering, you agree to share your data with MutualFunds.com and opt-in to receiving occasional communications about projects and events. The contents of this form are subject to the MutualFunds.com Privacy Policy. You can unsubscribe at any time.