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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

Variant Alternative Income Fund

NICHX | Fund

$25.94

$2.56 B

9.06%

$2.35

-

Vitals

YTD Return

2.4%

1 yr return

7.0%

3 Yr Avg Return

6.7%

5 Yr Avg Return

7.8%

Net Assets

$2.56 B

Holdings in Top 10

32.0%

52 WEEK LOW AND HIGH

$25.9
N/A
N/A

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

Closed-end mutual 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

Variant Alternative Income Fund

NICHX | Fund

$25.94

$2.56 B

9.06%

$2.35

-

NICHX - Profile

Distributions

  • YTD Total Return 2.4%
  • 3 Yr Annualized Total Return 6.7%
  • 5 Yr Annualized Total Return 7.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 9.1%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Variant Alternative Income Fund
  • Fund Family Name
    Variant
  • Inception Date
    Sep 28, 2018
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

NICHX - Performance

Return Ranking - Trailing

Period NICHX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.4% N/A N/A N/A
1 Yr 7.0% N/A N/A N/A
3 Yr 6.7%* N/A N/A N/A
5 Yr 7.8%* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period NICHX Return Category Return Low Category Return High Rank in Category (%)
2025 -2.2% N/A N/A N/A
2024 -5.0% N/A N/A N/A
2023 -1.0% N/A N/A N/A
2022 2.4% N/A N/A N/A
2021 5.7% N/A N/A N/A

Total Return Ranking - Trailing

Period NICHX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.4% N/A N/A N/A
1 Yr 7.0% N/A N/A N/A
3 Yr 6.7%* N/A N/A N/A
5 Yr 7.8%* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period NICHX Return Category Return Low Category Return High Rank in Category (%)
2025 7.2% N/A N/A N/A
2024 4.9% N/A N/A N/A
2023 9.5% N/A N/A N/A
2022 8.7% N/A N/A N/A
2021 12.3% N/A N/A N/A

NAV & Total Return History

NICHX - Holdings

Concentration Analysis

NICHX Category Low Category High NICHX % Rank
Net Assets 2.56 B N/A N/A N/A
Number of Holdings 211 N/A N/A N/A
Net Assets in Top 10 821 M N/A N/A N/A
Weighting of Top 10 32.01% N/A N/A N/A

Top 10 Holdings

  1. SCPFL I LLC / 5.83%
  2. Goldman Sachs Financial Square Government Fund 3.79%
  3. Medtrade Capital LLC / 3.39%
  4. SSC SPV No.1 LLC SSC SPV No. 1 LLC / 3.30%
  5. 888 Fund I LLC / 3.03%
  6. DelGatto Diamond Finance Fund LP / 2.96%
  7. Lendable Asset Management LLC / 2.62%
  8. Kerberos Capital Management SPV I LLC / 2.44%
  9. Aero Capital Solutions Feeder / 2.39%
  10. BEB SPV I LLC / 2.27%

Asset Allocation

Weighting Return Low Return High NICHX % Rank
Bonds 		68.83% N/A N/A N/A
Stocks 		26.66% N/A N/A N/A
Cash 		4.60% N/A N/A N/A
Preferred Stocks 		0.00% N/A N/A N/A
Convertible Bonds 		0.00% N/A N/A N/A
Other 		-0.09% N/A N/A N/A

Stock Sector Breakdown

Weighting Return Low Return High NICHX % Rank
Utilities 		0.00% N/A N/A N/A
Technology 		0.00% N/A N/A N/A
Real Estate 		0.00% N/A N/A N/A
Industrials 		0.00% N/A N/A N/A
Healthcare 		0.00% N/A N/A N/A
Financial Services 		0.00% N/A N/A N/A
Energy 		0.00% N/A N/A N/A
Communication Services 		0.00% N/A N/A N/A
Consumer Defense 		0.00% N/A N/A N/A
Consumer Cyclical 		0.00% N/A N/A N/A
Basic Materials 		0.00% N/A N/A N/A

Stock Geographic Breakdown

Weighting Return Low Return High NICHX % Rank
US 		26.66% N/A N/A N/A
Non US 		0.00% N/A N/A N/A

Bond Sector Breakdown

Weighting Return Low Return High NICHX % Rank
Cash & Equivalents 		3.79% N/A N/A N/A
Securitized 		0.00% N/A N/A N/A
Corporate 		0.00% N/A N/A N/A
Municipal 		0.00% N/A N/A N/A
Government 		0.00% N/A N/A N/A
Derivative 		-0.09% N/A N/A N/A

Bond Geographic Breakdown

Weighting Return Low Return High NICHX % Rank
US 		64.64% N/A N/A N/A
Non US 		4.20% N/A N/A N/A

NICHX - Expenses

Operational Fees

NICHX 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

NICHX 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

NICHX 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.

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

NICHX - Distributions

Dividend Yield Analysis

NICHX Category Low Category High NICHX % Rank
Dividend Yield 9.06% N/A N/A N/A

Dividend Distribution Analysis

NICHX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly

Net Income Ratio Analysis

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

Capital Gain Distribution Analysis

NICHX Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

View More +

NICHX - Fund Manager Analysis

Tenure Analysis

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

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