NightShares, an ETF provider founded by industry veterans focused on capturing value from the “night effect,” a phenomenon whereby overnight markets have historically outperformed the daytime trading session on a risk-adjusted basis, today announced the launch of its newest fund: the NightShares 500 1x/1.5x ETF (NSPL ).
NSPL joins the NightShares ETF lineup, which also consists of the NightShares 500 ETF (NSPY ) and the NightShares 2000 ETF (NIWM ), both launched in June. Like the first two NightShares funds, NSPL seeks to offer investors exposure to the night effect, but in contrast to NSPY, NSPL will maintain exposure to the daytime return of the S&P 500 (1x) while offering 1.5x exposure at night to tilt the fund’s overall exposure towards the night effect.
“We are very proud to be bringing NSPL to market as this ETF is an exciting extension of our product line,” said Bruce Lavine, CEO of NightShares, in a news release. “Because the day and night market sessions perform very differently 1, we wanted to provide investors with yet another cutting-edge approach to capturing the Night Effect.”
Max Gokhman, chief investment officer of AlphaTrAI, a sister company of NightShares, added: “With the launch of NSPL, we are giving investors two interesting alternatives to holding a long position in the S&P 500. Both products are designed to offer attractive risk adjusted returns but with one focused on lower volatility relative to the S&P 500 and the other looking for potential outperformance by emphasizing the historically well rewarded night session.”
NSPL is listed on NYSE Arca and will have an expense ratio of 0.67% plus any acquired funds fee.
Additional information on NightShares, the night effect, and these funds can be found at www.NightShares.com.
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