GIAX vs. EWT ETF Comparison

Comparison of Nicholas Global Equity and Income ETF (GIAX) to iShares MSCI Taiwan Index Fund (EWT)

GIAX

Nicholas Global Equity and Income ETF

GIAX Description

The fund"s strategy includes two components: (i) holding shares of unaffiliated passively managed ETFs that seek to provide exposure to a range of global equity securities ("Index ETFs") and (ii) selling daily index credit call spreads ("Index Call Spreads") on one or more US equity indices. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$19.78

Average Daily Volume

15,865

Number of Holdings ^*

* may have additional holdings in another (foreign) market

EWT

iShares MSCI Taiwan Index Fund

EWT Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Taiwan Index (the "underlying index"). The fund will at all times invest at least 80% of its assets in the securities of its underlying index and in depositary receipts ("DRs") representing securities in its underlying index. The underlying index consists of stocks traded primarily on the Taiwan Stock Exchange. Components primarily include financial, information technology and materials companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$53.78

Average Daily Volume

4,202,716

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	GIAX	EWT
30 Days	3.50%	5.04%
60 Days	6.99%	12.56%
90 Days		-3.06%
12 Months		29.81%

1 Overlapping Holdings

	Symbol	Grade	Weight in GIAX	Weight in EWT	Overlap
	UMC	D	1.98%	1.71%	1.71%

GIAX Overweight 9 Positions Relative to EWT

Symbol	Grade	Weight
VEA	C	16.69%
VIG	A	16.61%
VOO	A	16.49%
VTWO	B	16.44%
QQQ	B	8.22%
ARGT	C	4.24%
FLIN	D	3.92%
FRDM	C	3.55%
TSM	B	1.98%

GIAX Underweight 1 Positions Relative to EWT

	Symbol	Grade	Weight
	CHT	C	-1.34%