At a glance
NITE charges 1.25% a year, above the 0.3% average of the 7 funds most like it (the most expensive of 8). It has $31.0M in assets, the 8th largest of that group. Over the past year it returned +6.4% with distributions reinvested (S&P 500: +11.5%), 2nd of those 8 funds. Its ten largest positions make up 61.3% of the fund, out of 20 in all.
The short version
The Nightview Fund (NITE) is an actively managed ETF from Nightview Capital holding about 20 mostly U.S. stocks, led by Tesla, Amazon and Nvidia, with a goal of beating the S&P 500 Total Return Index over rolling five-year periods. It offers a concentrated, long-horizon stock picker's approach. That comes at 1.25% a year, versus a 0.30% average for similar funds, and with big swings: its prospectus shows a 64.56% loss in 2022.
Price history
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NITE +6.4% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| NITE official prospectus, to Dec 31, 2025 | — | +22.64% | — | +1.86% | — | +21.36% |
| S&P 500® Total Return Index (reflects no deduction for fees, expenses or taxes) index, same period | — | +17.88% | — | +14.42% | — | +14.58% |
| NITE price data to Oct 27, 2026 | +6.9% | +6.4% | — | — | — | +21.4% |
- Over the year to Oct 27, 2026, NITE returned +6.4%, 2nd of 8 among similar funds.
- Its worst full calendar year was 2025 (+22.6%); its best was 2025 (+22.6%).
- The deepest fall in its price history was 29.6% (Dec 17, 2024 to Apr 8, 2025), recovered by Jul 17, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +6.9% | — |
| 2025 | +22.6% | +22.64% |
| 2024 | — | +18.66% |
| 2023 | — | +79.07% |
| 2022 | — | -64.56% |
| 2021 | — | +18.71% |
| 2020 | — | +228.09% |
| 2019 | — | +32.25% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
What's inside
As of Jul 31, 2026, the fund held 20 securities; the ten largest made up 61.29% of assets.
| Holding | Weight | |
|---|---|---|
| TESLA INC | 10.37% | |
| AMAZON.COM INC | 9.29% | |
| NVIDIA CORP | 8.98% | |
| AXON ENTERPRISE INC | 5.21% | |
| CHARLES SCHWAB CORP (THE) | 4.95% | |
| BLACKROCK INC | 4.53% | |
| MGM RESORTS INTERNATIONAL | 4.52% | |
| MORGAN STANLEY | 4.50% | |
| SALESFORCE INC | 4.48% | |
| SERVICENOW INC | 4.47% | |
| GOLDMAN SACHS GROUP INC (THE) | 4.42% | |
| WYNN RESORTS LTD | 4.25% | |
| AUTODESK INC | 4.23% | |
| LAS VEGAS SANDS CORP | 4.18% | |
| ATLASSIAN CORP | 4.18% |
By country
United States 95.64%Bermuda 3.81%By asset type
Stocks 99.46%By sector
Sectors of the companies held, for the 84.4% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $374K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +9.46%, -6.62%, -1.68%.
How it works
NITE does not track an index. It is actively managed and aims to beat the S&P 500 Total Return Index over rolling five-year periods. Nightview Capital picks innovative, growing companies it believes trade well below its estimate of fair value, with catalysts to close that gap over several years. At least 80% of assets go to U.S. companies; up to 20% may go to U.S.-listed shares of companies tied to developed foreign markets.
Research starts with industries that are changing fast or out of favor, then narrows to individual companies over months or years. Each holding is judged on at least a three-year view, ideally 10 years or more. Price targets are reviewed at least quarterly, and reaching an interim target does not automatically mean a trim. Even so, reported portfolio turnover was 124%, meaning it traded the equivalent of more than its entire portfolio in a year.
The fund is non-diversified, meaning it can concentrate in a few stocks. As of July 31, 2026, it held 20 stocks; the top 10 made up 61.29% of assets, led by Tesla (10.4%), Amazon (9.3%) and Nvidia (9.0%). It used no derivatives or leverage. It mostly issues and redeems shares for baskets of stocks, but unlike many ETFs may use cash for some, which can add brokerage costs.
What it really costs
- NITE charges 1.25% a year, versus an average of 0.3% for the similar funds below (8th of 8, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $127 in the first year and $1,511 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| NITE | $127 | $397 | $686 | $1,511 |
In a retirement portfolio
With about 20 stocks, a 1.25% expense ratio and a 64.56% loss in 2022 on its record, it fits a small slice of a portfolio rather than its core.
NITE adds a concentrated bet on growth names such as Tesla, Amazon and Nvidia. Its record doesn't reach back to 2008. The prospectus, whose record starts before the ETF's June 2024 launch, shows a 228.09% gain in 2020 but a 64.56% loss in 2022, its worst year, including a 45.51% drop in the final quarter. Since launch, its deepest fall was 29.6%, bottoming April 8, 2025, and it took about 3.3 months to recover. Someone who needs to draw money during a slide like that may have to cash out shares at depressed prices.
It had paid no distributions as of October 27, 2026, so it offers no income. It costs 1.25% a year, or $127 on $10,000 in year one in the SEC's standard example. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting a small, high-conviction slice of about 20 stocks led by Tesla, Amazon and Nvidia, picked by an active manager.
- Long-horizon holders who can wait out deep drops, since the manager views every position over at least three years and ideally 10 or more.
- People seeking growth, not income: the fund recorded no distributions and aims to beat the S&P 500 Total Return Index over rolling five-year periods.
Look elsewhere if
- Cost-conscious investors: its 1.25% expense ratio is the highest of eight similar funds compared; the other seven average 0.30%.
- Retirees drawing income or cash soon: the fund recorded no distributions, and its prospectus shows a 64.56% loss in 2022.
- Investors wanting broad diversification: it holds about 20 stocks, with 61.29% in the top 10 and Tesla alone at 10.4%.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| NITE this fund | — | 1.25% | $31.0M | +6.4% | — |
| SFYF SoFi Social 50 ETF | 33% | 0.29% | $42.5M | +12.7% | +38.8% |
| FDG American Century Focused Dynamic Growth ETF | 23% | 0.45% | $419.8M | +2.3% | +29.9% |
| FFOG Franklin Focused Growth ETF FOCUSED GROWTH … | 22% | 0.55% | $311.7M | -0.4% | — |
| BCHP Principal Focused Blue Chip ETF | 21% | 0.58% | $218.2M | -2.3% | +16.6% |
| XLY Consumer Discretionary Select Sector SPDR F… | 20% | 0.08% | $22.59B | -0.5% | -8.0% |
| FDIS Fidelity MSCI Consumer Discretionary Index … | 20% | 0.084% | $1.68B | -2.3% | +16.4% |
| VCR Vanguard Consumer Discretionary ETF | 20% | 0.09% | $6.63B | -2.6% | +16.3% |
Questions investors ask
What stocks are in the NITE ETF?
NITE holds a concentrated portfolio of mostly U.S. stocks picked by Nightview Capital. As of July 31, 2026, it held 20 stocks, with 61.29% in the top 10. The largest were Tesla (10.4%), Amazon (9.3%) and Nvidia (9.0%), followed by Axon Enterprise, Charles Schwab and BlackRock. Technology was the biggest sector at 33.3%, followed by consumer discretionary at 23.8% and financials at 18.4%. It also owned casino operators MGM Resorts, Wynn Resorts and Las Vegas Sands.
Has NITE beaten the S&P 500?
Over some periods yes, over others no. As of December 31, 2025, the prospectus shows NITE returned 22.64% over one year versus 17.88% for the S&P 500 Total Return Index, and 21.36% a year since inception versus 14.58%. But over five years it averaged just 1.86% a year against 14.42%, a period that includes a 64.56% loss in 2022. Part of this record predates the ETF's June 2024 launch. Its stated goal is to beat the index over rolling five-year periods.
What is NITE's expense ratio?
NITE's expense ratio, the yearly fee deducted from fund assets, is 1.25%, all of it management fee, per its May 29, 2026 prospectus. That is the highest in its comparison group of eight funds; the other seven average 0.30%. In the SEC's standard example, which assumes $10,000 invested and a 5% yearly return, costs total about $127 after one year, $686 after five years and $1,511 after ten. Its 124% portfolio turnover can add trading costs that the expense ratio doesn't include.
Does NITE pay dividends?
No. NITE had paid no distributions as of October 27, 2026, so it has provided no dividend income. That fits its objective of long-term capital appreciation (growth in share value) and its focus on businesses that keep reinvesting in themselves. Its returns depend on share-price changes, which can be large: the prospectus shows a 64.56% loss in 2022 and a 79.07% gain in 2023. Retirees who need regular income from a holding would have to cash out shares to get it.
NITE vs SFYF: what's the difference?
The biggest differences are cost and size. SFYF, the SoFi Social 50 ETF, charges 0.29% a year versus NITE's 1.25%, and it had about $42.5 million in net assets as of August 31, 2026, against NITE's $31.0 million as of July 31, 2026. The two share a 33% holdings overlap, the most of any fund compared here. Over the year to October 27, 2026, SFYF returned 12.7% and NITE 6.4%. NITE is actively managed by Nightview Capital.