ETF Evaluator:
Nicholas Silver Income ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Equity Precious Metals Over the Last Year
| 80.1% | Themes Silver Miners ETF (AGMI) |
| 73.5% | iShares MSCI Global Silver&Mtls Mnrs ETF (SLVP) |
| 69.2% | Amplify Junior Silver Miners ETF (SILJ) |
| 68.1% | Sprott Junior Gold Miners ETF (SGDJ) |
| 65.4% | Sprott Silver Mnrs & Physical Silver ETF (SLVR) |
Risk
Index
Risk
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ETF Details
Nicholas Silver Income ETF Overview
Nicholas Silver Income ETF (SLVX) is an actively managed Sector Equity Equity Precious Metals exchange-traded fund (ETF). Nicholas Wealth, LLC launched the ETF in 2026.
The investment seeks capital appreciation. The fund’s secondary investment objective is to seek current income.
Under normal circumstances, the fund will invest at least 80% of the value of its assets, plus borrowings for investment purposes, in (i) the equity securities of Silver Industry Companies, (ii) options contracts on Silver Industry Companies, (iii) underlying funds, and (iv) options contracts and futures contracts on underlying funds. The fund is non-diversified.
About Nicholas Silver Income ETF (SLVX)
There are 3 members of the management team with an average tenure of 0.45 years: David Nicholas (2026), Scott Snyder (2026) and Quinn Berry (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
Nicholas Silver Income ETF has 58 securities in its portfolio. The top 10 holdings constitute 80.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Nicholas Silver Income ETF is part of the Equity global asset class and is within the Sector Equity ETF group. Nicholas Silver Income ETF has 45.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 12.4% There is 45.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Nicholas Silver Income ETF has 14.3% of the portfolio in cash.
Assets Under Management
The fund has $4 million in total assets, which is below the $2 billion average for the Equity Precious Metals category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
SLVX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Nicholas Silver Income ETF expense ratio is high compared to funds in the Equity Precious Metals category. Nicholas Silver Income ETF has an expense ratio of 1.16%, which is 86% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Nicholas Silver Income ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 55% for the Equity Precious Metals category.
Recently, in the month of July 2026, Nicholas Silver Income ETF returned -7.2%, which earned it a grade of F, as the Equity Precious Metals category had an average return of -2.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Nicholas Silver Income ETF has a trailing yield of 0.00%, which is below the 2.66% category average.
The fund normally distributes its income weekly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
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SLVX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SLVX Return (NAV) | -7.2% | -24.3% | na | na | na | na |
| SLVX Return (Price) | -7.3% | -24.4% | na | na | na | na |
| NAV +/- Price Return | 0.153% | 0.132% | na | na | na | na |
| Equity Precious Metals Avg | -2.6% | -16.1% | 57.4% | 38.2% | 16.4% | 8.2% |
| SLVX Grade (NAV) | F | F | na | na | na | na |
| +/- Category (NAV) | -4.5% | -8.2% | na | na | na | na |
| SLVX Tax-Cost Ratio | na | na | na | na | na | na |
SLVX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SLVX Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| SLVX Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Equity Precious Metals Avg | -13.0% | 169.5% | 15.1% | 4.9% | -15.7% | -15.1% | 33.4% | 43.1% | -17.3% | 6.2% | 77.4% |
| SLVX Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 4 Mil |
| Share Class Assets: | $ 4 Mil |
| Turnover: | na |
| Expense Ratio: | 1.16% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Weekly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 0.5 years | |||
| Average Tenure: 0.5 years | |||
| Managers (Year): Nicholas David (2026), Snyder Scott (2026), Berry Quinn (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 58 |
| % in Top 10 Holdings: | 80.9% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 45.9% |
Portfolio Allocation |
|
| Domestic Stock: | 12.4% |
| Foreign Stock: | 45.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 27.4% |
| Cash: | 14.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Nicholas Wealth, LLC |
| Phone Number: | 855-563-6900 |
| Website: | |
| Inception Date: | February 17, 2026 |
Expenses and Fees
| Expense Ratio (%): | 1.16% (Rating: High) |
| Category Average Expense Ratio (%): | 0.62% |
