NGHT vs. ETH
NGHT (Nicholas Bitcoin and Treasuries AfterDark ETF) and ETH (Grayscale Ethereum Staking Mini ETF) are both Cryptocurrency funds. Both are actively managed. Their 0.75 correlation means they have sometimes moved together and sometimes differently. NGHT charges 0.97%/yr vs 0.15%/yr for ETH.
Performance
NGHT vs. ETH - Performance Comparison
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Returns By Period
NGHT
- 1D
- 1.08%
- 1M
- -6.11%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
ETH
- 1D
- 4.56%
- 1M
- 24.06%
- 6M
- -32.26%
- YTD
- -33.86%
- 1Y
- -45.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -24.90%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $33.57M | $34.84M | $47.58M | |
| $192.25K | $331.23K | $485.78K |
NGHT vs. ETH - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
NGHT Nicholas Bitcoin and Treasuries AfterDark ETF | -18.89% |
ETH Grayscale Ethereum Staking Mini ETF | -7.39% |
Correlation
The correlation between NGHT and ETH is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 8, 2026 | 0.75 |
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Return for Risk
NGHT vs. ETH — Risk / Return Rank
NGHT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ETH
NGHT vs. ETH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nicholas Bitcoin and Treasuries AfterDark ETF (NGHT) and Grayscale Ethereum Staking Mini ETF (ETH). 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.
| NGHT | ETH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.91 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.68 | — |
| Martin ratioReturn relative to average drawdown | — | -1.03 | — |
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Drawdowns
NGHT vs. ETH - Drawdown Comparison
The maximum NGHT drawdown since its inception was -23.66%, smaller than the maximum ETH drawdown of -67.52%. Use the drawdown chart below to compare losses from any high point for NGHT and ETH.
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Drawdown Indicators
| NGHT | ETH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.66% | -67.52% | +43.86% |
Max Drawdown (1Y)Largest decline over 1 year | — | -67.52% | — |
Current DrawdownCurrent decline from peak | -22.84% | -59.26% | +36.42% |
Average DrawdownAverage peak-to-trough decline | -11.60% | -34.84% | +23.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 44.43% | — |
Volatility
NGHT vs. ETH - Volatility Comparison
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Volatility by Period
| NGHT | ETH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 12.78% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 46.43% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 30.40% | 67.35% | -36.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.40% | 71.45% | -41.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.40% | 71.45% | -41.05% |
NGHT vs. ETH - Expense Ratio Comparison
NGHT has a 0.97% expense ratio, which is higher than ETH's 0.15% expense ratio.
Dividends
NGHT vs. ETH - Dividend Comparison
Neither NGHT nor ETH has paid dividends to shareholders.
Frequently Asked Questions
NGHT and ETH have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ETH is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETH is cheaper with a 0.15% expense ratio, compared with 0.97% for NGHT.
NGHT and ETH have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Nicholas and Grayscale. Their fees differ too: 0.97% for NGHT and 0.15% for ETH.
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