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Nicholas Bitcoin and Treasuries AfterDark ETF NGHT
Historical return decomposition and an investable replication portfolio, using data through 2026-10-09.
Fund and replication metrics
| Measure | NGHT | Replication |
|---|---|---|
| Annualized growth | -23.7% | 2.4% |
| Annualized volatility | 28.8% | 26.6% |
| Sharpe ratio | -0.80 | 0.22 |
| Maximum drawdown | 24.6% | 16.3% |
| Replication fit (R²) | 0.62 · Tracking error 17.8% | |
Replication portfolio
The published portfolio below is the investable basket used to model NGHT’s historical return behavior.
| Ticker | Building block | Weight |
|---|---|---|
| VNQI | Alternatives · Intl Real Estate | 52.8% |
| IBIT | Alternatives · Bitcoin | 47.2% |