NGHT vs SPY
Nicholas Bitcoin and Treasuries AfterDark ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | NGHT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.97% | 0.09% | |
| AUM | $25M | $821.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 4 | 505 | |
| YTD Return | -13.20% | +12.68% | |
| 1Y Return | - | +21.82% | |
| 3Y Return (annualized) | - | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | - | 15.3% | |
| Max Drawdown | -26.0% | -56.5% | |
| Fund Family | XFunds | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Apr 8, 2026 | Jan 22, 1993 |
NGHT vs SPY Performance
Nicholas Bitcoin and Treasuries AfterDark ETF (NGHT) is a ETF from XFunds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Year to date, NGHT is down 13.20% versus a gain of 12.68% for SPY.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -26.0% for NGHT and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
NGHT charges 0.97% per year while SPY charges 0.09%. On a $10,000 position that is $97 vs $9 annually, a gap of $88 per year that compounds over a long holding period. On income, NGHT currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
NGHT and SPY share 0 holdings out of 505 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, NGHT or SPY?
NGHT has an expense ratio of 0.97% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $88 per year of difference.
What is the holdings overlap between NGHT and SPY?
NGHT and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, NGHT or SPY?
NGHT yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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