Tidal Trust II - Nicholas Fixed Income Alternative ETF is an exchange traded fund launched and managed by Tidal Investments LLC. The fund is co-managed by Nicholas Wealth, LLC. It invests in public equity, fixed income and commodity markets of the United States. For its equity portion, the fund invests through derivatives in stocks of companies operating across diversified sectors. The fund uses derivatives such as options to create its portfolio. It invests in growth and value stocks of companies across diversified market capitalization. For its fixed income portion, it invests directly and through derivatives in short-term U.S. treasury fixed income securities. For its commodity portion, the fund invests through derivatives in commodities. It seeks to benchmark the performance of its portfolio against the Bloomberg US Aggregate Bond Index. Tidal Trust II - Nicholas Fixed Income Alternative ETF was formed on November 29, 2022 and is domiciled in the United States.