NGHT vs. EZET
NGHT (Nicholas Bitcoin and Treasuries AfterDark ETF) and EZET (Franklin Ethereum ETF) are both Cryptocurrency funds. NGHT is actively managed, while EZET is passively managed. A 0.73 correlation means they provide meaningful diversification when combined. NGHT charges 0.97%/yr vs 0.19%/yr for EZET.
Performance
NGHT vs. EZET - Performance Comparison
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Returns By Period
NGHT
- 1D
- -2.89%
- 1M
- -7.33%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EZET
- 1D
- -1.62%
- 1M
- 6.39%
- 6M
- -44.02%
- YTD
- -37.92%
- 1Y
- -46.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NGHT vs. EZET - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
NGHT Nicholas Bitcoin and Treasuries AfterDark ETF | -19.48% |
EZET Franklin Ethereum ETF | -12.73% |
Correlation
The correlation between NGHT and EZET is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 8, 2026 | 0.73 |
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Return for Risk
NGHT vs. EZET — Risk / Return Rank
NGHT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
EZET
NGHT vs. EZET - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nicholas Bitcoin and Treasuries AfterDark ETF (NGHT) and Franklin Ethereum ETF (EZET). 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 | EZET | 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 | — | -1.06 | — |
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Drawdowns
NGHT vs. EZET - Drawdown Comparison
The maximum NGHT drawdown since its inception was -23.39%, smaller than the maximum EZET drawdown of -67.89%. Use the drawdown chart below to compare losses from any high point for NGHT and EZET.
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Drawdown Indicators
| NGHT | EZET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.39% | -67.89% | +44.50% |
Max Drawdown (1Y)Largest decline over 1 year | — | -67.89% | — |
Current DrawdownCurrent decline from peak | -23.39% | -61.95% | +38.56% |
Average DrawdownAverage peak-to-trough decline | -10.66% | -34.69% | +24.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 43.72% | — |
Volatility
NGHT vs. EZET - Volatility Comparison
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Volatility by Period
| NGHT | EZET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 14.52% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 46.99% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 31.07% | 67.52% | -36.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.07% | 71.84% | -40.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.07% | 71.84% | -40.77% |
NGHT vs. EZET - Expense Ratio Comparison
NGHT has a 0.97% expense ratio, which is higher than EZET's 0.19% expense ratio.
Dividends
NGHT vs. EZET - Dividend Comparison
Neither NGHT nor EZET has paid dividends to shareholders.
Frequently Asked Questions
NGHT and EZET have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EZET is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EZET is cheaper with a 0.19% expense ratio, compared with 0.97% for NGHT.
NGHT and EZET have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Nicholas and Franklin Templeton. Their fees differ too: 0.97% for NGHT and 0.19% for EZET.
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