- Issuer
- Nicholas
- Inception Date
- Apr 7, 2026
- Region
- North America (U.S.)
- Category
- Cryptocurrency
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Cryptocurrency
- Assets Under Management
- $25M
Highlights
- Avg. Volume (1M)
- 15K
- Avg. Volume Value (1M)
- $331.23K
Share Price Chart
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Performance
NGHT Performance Chart
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Returns By Period
Nicholas Bitcoin and Treasuries AfterDark ETF
- 1D
- 1.08%
- 1M
- -6.11%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.07%
- 1M
- 0.80%
- 6M
- 6.66%
- YTD
- 8.29%
- 1Y
- 16.04%
- 3Y*
- 17.39%
- 5Y*
- 10.99%
- 10Y*
- 13.05%
- ALL TIME*
- 8.07%
NGHT Monthly Returns History
Based on dividend-adjusted daily data since Apr 8, 2026, NGHT's average daily return is -0.26%, while the average monthly return is -5.03%.
Historically, 0% of months were positive and 100% were negative. The best month was Apr 2026 with a return of -0.2%, while the worst month was Jun 2026 at -9.9%. The longest winning streak lasted 0 consecutive months, and the longest losing streak was 4 months.
On a daily basis, NGHT closed higher 39% of trading days. The best single day was Jun 15, 2026 with a return of +4.9%, while the worst single day was Jun 2, 2026 at -4.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.15% | -6.63% | -9.88% | -3.47% | -18.89% |
Benchmark Metrics
Nicholas Bitcoin and Treasuries AfterDark ETF has an annualized alpha of -63.12%, beta of 0.92, and R2 of 0.16 versus S&P 500 Index. Calculated based on daily prices since April 08, 2026.
- This ETF participated in 438.78% of S&P 500 Index downside but only -27.24% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.16 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -63.12%
- Beta
- 0.92
- R²
- 0.16
- Upside Capture
- -27.24%
- Downside Capture
- 438.78%
Expense Ratio
NGHT has a high expense ratio of 0.97%, indicating above-average management fees.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Nicholas Bitcoin and Treasuries AfterDark ETF (NGHT) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| NGHT | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.23 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.78 | — |
| Martin ratioReturn relative to average drawdown | — | 7.60 | — |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Nicholas Bitcoin and Treasuries AfterDark ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Nicholas Bitcoin and Treasuries AfterDark ETF was 23.66%, occurring on Jul 24, 2026. The portfolio has not yet recovered.
The current Nicholas Bitcoin and Treasuries AfterDark ETF drawdown is 22.84%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-23.66%Jul 2026 | 2mo 18d | — | 2mo 22dMay 2026 - now | — |
-3.69%Apr 2026 | 8d | 1d | 9dApr 2026 - Apr 2026 | — |
-1.98%Apr 2026 | 5d | 3d | 8dApr 2026 - May 2026 | — |
-0.13%May 2026 | 0s | 1d | 1dMay 2026 - May 2026 | — |
Drawdown Indicators
| NGHT | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.66% | -56.78% | +33.12% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -22.84% | -2.58% | -20.26% |
Average DrawdownAverage peak-to-trough decline | -11.60% | -10.70% | -0.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.12% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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