Nicholas Wealth, LLCDigital AssetsBHDG · Nasdaq

Nicholas Bitcoin Tail ETF (BHDG)

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Price: $20.79; —25 Sept 2026
Assets: $16.4M; Total net assets
Expense ratio: 0.97%; Category 0.99%
Yield: —; Trailing distributions

1Y return: —; Category 21.7%
3Y CAGR: —; Category 73.8%
5Y CAGR: —; Category 7.8%

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Nicholas Bitcoin Tail ETF

Calendar-year returns

Fund only: no comparison series covers this fund's history.

Risk statistics

Five years of daily closes. Risk-free rate 4% a year.

Standard deviation: —
Maximum drawdown: —
Sharpe ratio: —
Sortino ratio: —
Beta: —
Alpha: —
R²: —
Information ratio: —
Upside capture: —
Downside capture: —
Tracking error: —

Trailing returns compared with benchmark
Period	1M	3M	6M	YTD	1Y	3YCAGR	5YCAGR	10YCAGR	LaunchCAGR
ETF	-7.2%	-18.8%	-22.1%	—	—	—	—	—	-19.4%
Digital Assets average	14.8%	51.3%	32.7%	-4.1%	21.7%	73.8%	7.8%	—	1.0%
Difference	-22.0%	-70.1%	-54.8%	—	—	—	—	—	-20.4%

Holdings

The 1 largest positions make up 91.4% of the fund.

Top holdings

Largest holdings by weight
Ticker	Holding	Weight
FGXXX	First American Government Obligs X	91.39%

Credit quality

Share of the bonds by rating.

US government3.0%

Asset mix

Cash85.1%
Stocks14.1%
Other0.8%

ETF details

Issuer: Nicholas Wealth, LLC
Category: Currency · Digital Assets
Ticker: BHDG
Exchange: Nasdaq
Inception: 3 Mar 2026 (0.6 years)
Structure: Exchange Traded Fund
Expense ratio: 0.97% (category 0.99%)
Holdings turnover: 0% (category 91%)
Distribution yield: —
Beta, 3 years: 0.00
Total net assets: $16.4M

Prices and returns as of 25 Sept 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

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