The Nightview Fund
$39.30−0.31 (−0.79%)
- Expense ratio
- 1.25%
- Fund size
- $34M
- 1Y return
- +12.3%
- Yield · Last 12 months
- —
- Volume · 30D
- 0M sh
- NAV per share
- $39.07
- 52W range
The ETF.net NITE Grade
Score 10 of 100 sits in the F band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 0Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.FScore 5Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.FScore 20Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.FScore 23Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.DScore 35Category rank
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
- —
- 67%
- TSLA
Sectors
- Technology32.3%
- Consumer Discr.30.3%
- Financials16.0%
- Industrials13.9%
- Communication4.4%
- Utilities3.1%
Geography
- United States91.66%
- Australia5.25%
- Canada3.09%
NITE Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | +8.2% |
| 1 month | −1.0% |
| 3 months | +7.8% |
| 1 year | +12.3% |
| 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 | +8.2% | |
| 2025 | +22.6% | |
| 2024 | +20.1% |
NITE in the news
ETF.net Research hasn’t filed on NITE yet — coverage lands here as it’s written.
NITE Dividends
No distributions in the last 12 months.
NITE Risk
- 20.6%
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.
- 0.98
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
- The middle half of US Active Value funds
- Median 0.55%
Every other US Active Value fund charges less.