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QUARTER-END AVERAGE ANNUAL RETURNS
As of September 30, 2008
|
Fund
|
1 Year |
5 Years |
10 Years |
|
|
Nicholas Fund (NICSX)
|
(15.92%)
|
5.02%
|
2.00%
|
|
|
Nicholas II - Class I (NCTWX)(2)
|
(14.65%)
|
6.26%
|
3.60%
|
|
|
Nicholas Limited Edition - Class I (NCLEX)(2)
|
(10.87%)
|
8.01%
|
4.52%
|
|
|
Nicholas Liberty Fund (NLBTX)
|
(13.53%)
|
8.14%
|
N/A(1)
|
|
|
Nicholas Equity Income Fund - Class I (NSEIX)
|
(13.48%)
|
9.23%
|
4.85%
|
|
|
Nicholas High Income Fund - Class I (NCINX)(2)
|
(9.32%)
|
3.72%
|
2.05%
|
|
|
|
1 Year |
5 Years |
10 Years |
7-Day Yield |
|
Nicholas Money Market (NICXX)
|
2.98%
|
3.00%
|
3.31%
|
2.02% |
(1) The return for the life of the Nicholas Liberty Fund since its inception date of 11/30/2001 is 5.18%.
Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance current to the most recent month end may be lower or higher than the performance quoted.
MONTH-END AVERAGE ANNUAL RETURNS
As of October 31, 2008
|
Fund
|
1 Year |
5 Years |
10 Years |
|
|
Nicholas Fund (NICSX)
|
(31.35%)
|
(0.23)%
|
(0.69)%
|
|
|
Nicholas II - Class I (NCTWX)(2)
|
(31.69%)
|
0.73%
|
1.02%
|
|
|
Nicholas Limited Edition - Class I (NCLEX)(2)
|
(32.64%)
|
2.01%
|
1.48%
|
|
|
Nicholas Liberty Fund (NLBTX)
|
(32.32%)
|
2.15%
|
N/A(1)
|
|
|
Nicholas Equity Income Fund - Class I (NSEIX)
|
(24.66%)
|
5.25%
|
2.91%
|
|
|
Nicholas High Income Fund - Class I (NCINX)(2)
|
(23.04%)
|
0.11%
|
0.56%
|
|
|
|
1 Year |
5 Years |
10 Years |
7-Day Yield |
|
Nicholas Money Market (NICXX)
|
2.74%
|
3.03%
|
3.28%
|
1.91% |
(1) The return for the life of the Nicholas Liberty Fund since its inception date of 11/30/2001 is 1.81%.
Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance current to the most recent month end may be lower or higher than the performance quoted.
| Nicholas Fund's Expense Ratio: |
0.75% |
| Nicholas II's Expense Ratio: |
0.66% |
| Nicholas Limited Edition's Expense Ratio: |
0.91% |
| Nicholas Equity Income Fund's Gross Expense Ratio: |
1.10% |
| Nicholas Equity Income Fund's Net Expense Ratio: |
0.90% |
| Nicholas Liberty Fund's Gross Expense Ratio: |
2.86% |
| Nicholas Liberty Fund's Net Expense Ratio: |
1.00% |
| Nicholas High Income Fund's Expense Ratio: |
0.72% |
| Nicholas Money Market Fund's Expense Ratio: |
0.52% |
The Adviser has agreed to voluntarily absorb expenses in excess of .90% of Nicholas Equity Income Fund's Class I average net assets on an annual basis during the fiscal year ended March 31, 2009. This absorption continues today, however, the Adviser may decrease or discontinue this at any time. The Adviser has agreed to voluntarily absorb expenses in excess of 1.00% of Nicholas Liberty Fund's average net assets on an annual basis during the fiscal year ended December 31, 2008. This absorption continues today, however, the Adviser may decrease or discontinue this at any time. The most recent expense ratios can be found in each funds current annual or semiannual report.
Nicholas Equity Income Fund and Nicholas Liberty Fund have fee waivers in effect. Investment performance reflects these fee waivers. In the absence of such waivers, total returns would be reduced.
Nicholas Liberty Fund may impose a .25% redemption fee on shares held less than six months. Historically this fee has not been imposed therefore performance data does not reflect the redemption fee. Had this fee been imposed, returns would have been lower.
(2) Class N of Nicholas II, Inc., Nicholas Limited Edition, Inc., and Nicholas High Income Fund, Inc. commenced operations on February 28, 2005. The annual returns shown for the Class I shares for these Funds would be substantially similar to the Class N because both classes of shares are invested in the same portfolio of securities. Annual returns will differ only to the extent that the classes do not have the same expenses. Specifically, the performance shown for the Class I shares does not reflect the 0.25% 12b-1 distribution fee or 0.10% shareholder servicing fee that is charged to Class N shares. For Nicholas Limited Edition, Inc. Class N, subsequent to March 13, 2008, the 12b-1 fee was 0.125% and the servicing fee was 0.05%.
An investment in the Money Market Fund is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund.
Total returns are historical and include change in share price, reinvestment of dividend and capital gain distributions.
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