NGHT vs. GIAX
NGHT (Nicholas Bitcoin and Treasuries AfterDark ETF) and GIAX (Nicholas Global Equity and Income ETF) are both exchange-traded funds - NGHT is a Cryptocurrency fund actively managed by Nicholas, while GIAX is a Derivative Income fund actively managed by Nicholas. Both are actively managed. Their 0.44 correlation means their historical movements had little consistent relationship. NGHT charges 0.97%/yr vs 1.03%/yr for GIAX.
Performance
NGHT vs. GIAX - Performance Comparison
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Returns By Period
NGHT
- 1D
- 1.08%
- 1M
- -6.11%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
GIAX
- 1D
- 0.46%
- 1M
- -8.31%
- 6M
- 3.38%
- YTD
- 6.02%
- 1Y
- 8.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.63M | $2.09M | $1.91M | |
| $192.25K | $331.23K | $485.78K |
NGHT vs. GIAX - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
NGHT Nicholas Bitcoin and Treasuries AfterDark ETF | -18.89% |
GIAX Nicholas Global Equity and Income ETF | 13.45% |
Correlation
The correlation between NGHT and GIAX is 0.44, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 8, 2026 | 0.44 |
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Return for Risk
NGHT vs. GIAX — Risk / Return Rank
NGHT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GIAX
NGHT vs. GIAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nicholas Bitcoin and Treasuries AfterDark ETF (NGHT) and Nicholas Global Equity and Income ETF (GIAX). 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 | GIAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.08 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.48 | — |
| Martin ratioReturn relative to average drawdown | — | 1.56 | — |
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Drawdowns
NGHT vs. GIAX - Drawdown Comparison
The maximum NGHT drawdown since its inception was -23.66%, which is greater than GIAX's maximum drawdown of -20.38%. Use the drawdown chart below to compare losses from any high point for NGHT and GIAX.
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Drawdown Indicators
| NGHT | GIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.66% | -20.38% | -3.28% |
Max Drawdown (1Y)Largest decline over 1 year | — | -17.62% | — |
Current DrawdownCurrent decline from peak | -22.84% | -15.69% | -7.15% |
Average DrawdownAverage peak-to-trough decline | -11.60% | -3.42% | -8.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 5.46% | — |
Volatility
NGHT vs. GIAX - Volatility Comparison
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Volatility by Period
| NGHT | GIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 8.05% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 21.97% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 30.40% | 24.68% | +5.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.40% | 22.33% | +8.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.40% | 22.33% | +8.07% |
NGHT vs. GIAX - Expense Ratio Comparison
NGHT has a 0.97% expense ratio, which is lower than GIAX's 1.03% expense ratio.
Dividends
NGHT vs. GIAX - Dividend Comparison
NGHT has not paid dividends to shareholders, while GIAX's dividend yield for the trailing twelve months is around 28.47%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GIAX Nicholas Global Equity and Income ETF | 28.47% | 25.62% | 10.58% |
NGHT Nicholas Bitcoin and Treasuries AfterDark ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NGHT and GIAX 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.
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.
NGHT is cheaper with a 0.97% expense ratio, compared with 1.03% for GIAX.
GIAX has the higher dividend yield at 28.47%, compared with 0.00% for NGHT.
NGHT is categorized as Cryptocurrency, while GIAX is Derivative Income. Their fees differ too: 0.97% for NGHT and 1.03% for GIAX.
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