GLDN vs. NGHT

Last updated Jul 17, 2026

GLDN (Nicholas Gold Income ETF) and NGHT (Nicholas Bitcoin and Treasuries AfterDark ETF) are both exchange-traded funds - GLDN is a Gold fund actively managed by Nicholas, while NGHT is a Cryptocurrency fund actively managed by Nicholas. Both are actively managed. At a 0.44 correlation, their price movements are largely independent. GLDN charges 1.07%/yr vs 0.97%/yr for NGHT.

Performance

GLDN vs. NGHT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nicholas Gold Income ETF (GLDN) and Nicholas Bitcoin and Treasuries AfterDark ETF (NGHT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GLDN

• 1D: -3.48%
• 1M: -16.49%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NGHT

• 1D: -1.48%
• 1M: -5.83%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

GLDN vs. NGHT - Yearly Performance Comparison

	2026 (YTD)
GLDN Nicholas Gold Income ETF	-24.19%
NGHT Nicholas Bitcoin and Treasuries AfterDark ETF	-17.08%

Correlation

The correlation between GLDN and NGHT is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 8, 2026	0.44

Return for Risk

GLDN vs. NGHT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Gold Income ETF (GLDN) and Nicholas Bitcoin and Treasuries AfterDark ETF (NGHT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

GLDN vs. NGHT - Drawdown Comparison

The maximum GLDN drawdown since its inception was -35.79%, which is greater than NGHT's maximum drawdown of -23.03%. Use the drawdown chart below to compare losses from any high point for GLDN and NGHT.

Drawdown Indicators

	GLDN	NGHT	Difference
Max Drawdown Largest peak-to-trough decline	-35.79%	-23.03%	-12.76%
Current Drawdown Current decline from peak	-35.79%	-21.11%	-14.68%
Average Drawdown Average peak-to-trough decline	-19.45%	-10.47%	-8.98%

Volatility

Volatility by Period

	GLDN	NGHT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	42.06%	30.89%	+11.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.06%	30.89%	+11.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.06%	30.89%	+11.17%

GLDN vs. NGHT - Expense Ratio Comparison

GLDN has a 1.07% expense ratio, which is higher than NGHT's 0.97% expense ratio.

Dividends

GLDN vs. NGHT - Dividend Comparison

GLDN's dividend yield for the trailing twelve months is around 6.95%, while NGHT has not paid dividends to shareholders.

Position	TTM
GLDN Nicholas Gold Income ETF	6.95%
NGHT Nicholas Bitcoin and Treasuries AfterDark ETF	0.00%

Frequently Asked Questions

Can I hold both GLDN and NGHT in my portfolio?

GLDN and NGHT have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GLDN or NGHT?

On fees, NGHT is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GLDN or NGHT?

NGHT is cheaper with a 0.97% expense ratio, compared with 1.07% for GLDN.

Which ETF pays a higher dividend yield, GLDN or NGHT?

GLDN has the higher dividend yield at 6.95%, compared with 0.00% for NGHT.

What is the main difference between GLDN and NGHT?

GLDN is categorized as Gold, while NGHT is Cryptocurrency. Their fees differ too: 1.07% for GLDN and 0.97% for NGHT.