ETF TV #118 Bruce Lavine, CEO of NightShares, a new issuer of ETFs, explains what the «NightEffect» is and how ETFs can be used to capture this performance on ETF TV with Margareta Hricova and Deborah Fuhr on ETF TV.
The firm listed 2 US equity ETFs on the NYSE Arca: NightShares 500 ETF (ticker NSPY) and the NightShares 2000 (NIWM). These ETFs seek to capture value from the «Night Effect,» a persistent phenomenon whereby overnight markets have historically outperformed the daytime trading session on a risk-adjusted basis.
The Night Effect is not unique to the US equity market with overnight returns having been shown to beat intraday returns in at least 23 different countries, highlighting the potential for the firm to further expand its product suite.
U.S. equities posted their worst first half performance since 1970, as inflation concerns, Fed rate hikes and slowing economic growth weighed on markets. The S&P 500® posted a loss of 20%, while the S&P MidCap 400® and S&P SmallCap 600® performed marginally better.
During the last week of June there were 40 new listings from 25 issuers and 35 new cross-listings. In the first half of 2022 there have been 746 new listings and 990 new cross listings. In H1 2022 there have been 149 ETFs have closed and 101.
Issuers listing new ETFs last week:
21Shares, BondBloxx Investment Management, BTG Pactual, Chimera Capital, China Asset Management, China International Capital Corp, China Southern Asset Management, CTBC Investments, Daishin Investment Trust Management, Day Hagan, DWS, Empowered Funds, Franklin Templeton Investments, Hanwha Asset Management, Invesco, iShares, Kiwoom Asset Management, Korea Investment Management, Mega Securities, Minsheng Royal Fund Management, NH-Amundi Management, Nightshares, Ninepoint, Samsung Asset Management, VanEck
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