NUKX
Nicholas Nuclear Income ETF
2026-07-09
← All funds
🔒
You're viewing the free teardown. Pro unlocks the deeper sections on this fund — risk assessment, scoring & verdict, track record vs. the underlying, holdings & concentration, peer comparison, pros & cons, and the analyst commentary.
Start your 7-day free trial
ARCX · Active · options-income
NUKX
Nicholas Nuclear Income ETF
Tidal Investments LLC (adviser); Nicholas Wealth, LLC (sub-adviser)
Verdict
AVOID
Weighted score · 2.10 / 5
AUM
$2M
assets under mgmt
Avg Volume
6K
shares · daily
Distribution
5.1%
Weekly · 0% ROC
Expense Ratio
1.07%
1.07% gross
1Y Return
—
vs underlying
Sharpe
-0.83
Max DD -26.5%
Fund Identity
What it is, who runs it, where it lives.
The Fund's primary investment objective is to seek capital appreciation.
NUKX is an actively managed ETF with three components: (i) an Equity Portfolio holding shares of Nuclear Industry Companies involved in nuclear energy production, uranium mining, fuel processing, reactor technology, and related activities; (ii) a Commodities Portfolio providing direct or indirect exposure to uranium via ETFs/ETPs and/or derivatives; and (iii) an Options Overlay generating net option premiums through synthetic covered calls, credit call spreads, credit put spreads, and other options strategies on individual equity holdings and underlying uranium funds. The Fund may also invest through a wholly-owned Cayman Islands subsidiary and may use reverse repurchase agreements, with cash/U.S. Treasuries held as collateral.
Ticker
NUKX
Issuer
Tidal Investments LLC (adviser); Nicholas Wealth, LLC (sub-adviser)
Exchange
ARCX
Inception
2026-03-03 · 0.3 yrs
Mgmt style
Active
Replication
Physical (full replication) for equities; Synthetic (swap-based/options+futures) for commodities exposure via underlying funds; Derivatives (options/futures) for options overlay
Index-based
—
Leverage
None
Strategy & Options Mechanics
How the portfolio is built and where the income comes from.
PORTFOLIO
Hybrid
actively managed
OPTIONS OVERLAY
Strategy
Synthetic Covered Calls + Credit Call Spreads + Credit Put Spreads; may also use diagonal spreads, calendar spreads, collars, cash-secured puts
generates income
Underlying
Individual Nuclear Industry Company stocks and uranium-focused ETFs/ETPs (Underlying Funds)
income exposure
WEEKLY
5.1%
DIST. RATE
0% ROC
Ordinary Income
Underlying
Individual Nuclear Industry Company stocks and uranium-focused ETFs/ETPs (Underlying Funds)
Strategy
Synthetic Covered Calls + Credit Call Spreads + Credit Put Spreads; may also use diagonal spreads, calendar spreads, collars, cash-secured puts
Tax
Ordinary Income
The Fund sells call options (synthetic covered calls and credit call spreads) and put options (credit put spreads) on its equity and commodities holdings to generate net option premiums that drive weekly cash distributions. Selling options may limit upside or increase downside risk, and distributions may include return of capital. The Fund may use standardized exchange-traded or FLEX options typically with maturities between 1 and 30 days.
Performance & NAV
Total return vs. the underlying, with drawdown context.
NAV HISTORY · MAR '26 – JUN '26
max DD -26.5% $38.56
MAR '26JUN '26
Max DD
-26.5%
Volatility
51.9%
Sharpe
-0.83
Sortino
-1.17
Calmar
—
Beta
—
Flat-NAV reinvestment hurdle
463.6%
Share of each distribution you’d need to reinvest just to hold NAV flat. Higher means more of the yield is your own capital coming back.
1Y vs Underlying
—
Tracking err.
—
Yield on cost
4.1%
Distribution & Tax
Where the yield comes from — and how it’s taxed.
Composition · Recent Distribution
0%
ROC
Return of Capital0%
Net Investment Income100%
Frequency
Weekly
Dist. rate
5.07%
ROC %
0%
30-day SEC
not reported
Consistency
2 w/o cut
YOC · 1yr-ago buyer
4.1%
Tax Treatment — Ordinary Income
ORDINARY INCOME
Distribution Composition (Recent)
0% Return of Capital
ROC is not free money — it lowers your cost basis. When shares are sold, capital gains are computed against the lower basis.
Composition · Narrative
Per the fund's most recent 19a-1 notice (as stated on the issuer fund page), the estimated distribution is 0% return of capital.
Distribution Growth & Schedule
Per-period growth of the payout, the latest schedule, and how long distributions take to repay NAV.
Distribution Growth by Lookback Period
-6.5% 1M -69.5% 3M
Latest Distribution Schedule
Record date
2026-06-23
Ex-dividend
2026-06-23
Pay date
—
Payback Period
19.7 yr
Dist. Since Incep.
$2.0
Holdings & Concentration
Position sizing, top-name weights, and concentration risk.
Sector Mix · Tilt vs S&P 500
No sector feed for this fund.
Holdings
61
Top-10 Wt.
—
Technical Signal & Liquidity
Moving-average posture and a read on tradability.
Price vs. Moving Averages
No moving-average series.
Price $38.56
50-DMA $—
200-DMA $—
Liquidity
Avg daily volume
6K
Avg dollar volume
$309,529
Bid/ask spread
0.62%
Premium/discount
—
Turnover
—
Estimated bid/ask spread ~0.62% (wide). Average daily dollar volume ~$0.3M (thin). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.
Assets Under Management
Trend: Falling. Source: shares×price (Massive, monthly).
AUM ($)
$2M
$7M$4M$2M
MAR '26JUN '26
SOURCES  Massive market-data API, SEC EDGAR filings, issuer disclosures.
NUKX · 2026-06-27
Prepared by denvereyon
Research aid, not investment advice.