NITE vs SEIV

NITEFThe Nightview Fund

SEIVASEI QiM U.S. Large Cap Value Active ETF

In short

NITE A 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.

SEIV Active quant value stock-picking at an index-fund price. SEIV screens U.S. large caps for cheap valuations plus quality, momentum and low volatility, then runs a concentrated book of roughly 80 names for 0.15% a year.

Stated mandate

NITE 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.

SEIV The Fund seeks long-term capital appreciation through primarily U.S. common stocks priced below fundamental valuation measures, using a quantitative, active stock-selection approach.

Why people hold it

• NITE 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

• SEIV 0.15% a year for genuine active selection, against a 0.55% median in its U.S. value peer group. It matches the cheapest large-value quant funds rather than charging active prices.
• Value is not the only screen. The model also weighs quality, momentum and low volatility, which is how a cheap-stock strategy tries to avoid the cheap-for-a-reason trap.
• Other funds measured against the S&P 500 in this cohort charge far more (LSVD 0.40%, GSPY 0.50%, VNSE 1.34%). SEIV runs its version at 0.15%.
• Sits among the strongest implementations in a crowded U.S. value field, and trades with enough regular activity to be workable for ordinary retail order sizes.

Worth knowing

• NITE 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

• SEIV About 80 stocks measured against a 500-name benchmark. That concentration means stretches where it looks nothing like the S&P 500, in either direction.
• Launched in 2022, so the live record is short, and the asset base is mid-sized rather than among the giants of the value aisle.
• You get the factor recipe, not the trade-by-trade logic: selection sits inside a quantitative model. Distributions land quarterly, not monthly.

Full NITE profile⁠

Full SEIV profile⁠