The Nightview Fund
$39.27−0.03 (−0.06%)
- 1.25%
- $35M
- +14.9%
- 0M sh
- $39.41
- low $26.07high $41.00
The ETF.net NITE Grade
F
Score 15 out of 100
- 63 of 66
Score 15 of 100 falls in the F band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F0 out of 100Rank 66 of 66Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.F5 out of 100Rank 62 of 63Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C46 out of 100Rank 37 of 66Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.F22 out of 100Rank 65 of 66Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D34 out of 100Rank 55 of 66
Our read on NITE
FA former private partnership turned ETF: Nightview runs a non-diversified book of roughly 15 to 25 high-conviction US names and grades itself against the S&P 500 over rolling five-year stretches.
The Fund seeks long-term capital appreciation and aims to outperform the S&P 500 Total Return Index over a rolling five-year period. It is actively managed, primarily U.S.-focused, and uses long-term fundamental value investing to identify companies trading below the adviser’s estimated fair value.
Why people hold it
- Concentration is the design, not an accident. The prospectus contemplates a non-diversified portfolio of roughly 15 to 25 stocks, so every pick carries real weight.sec.gov
- The mandate is unusually specific: beat the S&P 500 Total Return Index over a rolling five-year period, stated in the fund's own filings. Easy to hold to account.
- Not a launch-day idea. The adviser ran this long-only strategy as a private partnership before converting it into an ETF wrapper in 2024.nightviewcapital.com
Worth knowing
- Costs like active management: a 1.25% expense ratio against a category median near 0.55%, while systematic value peers such as AVLV and WTV sit near 0.15%.
- Small and thinly traded, so spreads can run wider than in the giants of the category.
- Capital appreciation is the whole job here. There is no income mandate, and 15 to 25 names means bumpier rides than a broad value index.sec.gov
NITE Holdings
- Stocks
- 20
- 69%
- TSLA
Sectors
- Technology37.3%
- Consumer Discretionary29.3%
- Financials15.4%
- Industrials14.1%
- Communication3.9%
Geography
- United States90.23%
- Australia5.63%
- Canada4.14%
NITE Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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NITE$11,489
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | NITE |
|---|---|
| Year to date | +7.4% |
| 1 month | −0.8% |
| 3 months | +4.5% |
| 1 year | +14.9% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | NITE |
|---|---|---|
| 2026 YTD | +7.4% | |
| 2025 | +22.6% | |
| 2024 | +20.1% |
NITE in the news
NITE Dividends
No distributions in the last 12 months.
NITE Risk
- 21.0%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.78
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −29.6%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.29
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
NITE Cost
1.25%
NITE1.25%
- The middle half of US Active Value funds
- Median 0.55%
Every other US Active Value fund charges less.
Other funds in US Active Value
- FLCFTouchstone US Large Cap Focused ETFExpense ratio 1.18%1 year return +16.2%
- DMAVFMatrix Advisors Value ETFExpense ratio 0.75%1 year return +23.8%
- FVNSENatixis Vaughan Nelson Select ETFExpense ratio 0.80%1 year return +14.0%
- FZIGThe Acquirers FundExpense ratio 0.75%1 year return +10.7%
- FLOPPGabelli Love Our Planet & People ETFExpense ratio 0.90%1 year return +13.7%