Strategy. The Fund seeks to return the night performance of a portfolio of 2000 small cap U.S. companies. The night return is measured from the time when the regular daytime trading ends in the U.S. market (the closing) to the time the market is open on the next trading day in the U.S. The night return is calculated as the percent difference from the opening price today versus the previous day closing price. The Fund is most suitable to investors seeking to gain exposure to the overnight markets. AlphaTrAI Funds, Inc. (the Adviser) serves as investment adviser to the Fund and the Adviser has retained Exchange Traded Concepts, LLC (the Sub-Adviser) to serve as the Sub-Adviser. Under normal circumstances, the Fund … Show more… The Fund seeks to return the night performance of a portfolio of 2000 small cap U.S. companies. The night return is measured from the time when the regular daytime trading ends in the U.S. market (the closing) to the time the market is open on the next trading day in the U.S. The night return is calculated as the percent difference from the opening price today versus the previous day closing price. The Fund is most suitable to investors seeking to gain exposure to the overnight markets. AlphaTrAI Funds, Inc. (the Adviser) serves as investment adviser to the Fund and the Adviser has retained Exchange Traded Concepts, LLC (the Sub-Adviser) to serve as the Sub-Adviser. Under normal circumstances, the Fund invests its net assets (plus borrowings for investment purposes) in exchange-traded funds (ETFs) that invest in or track the performance of small cap U.S. companies, small cap U.S. companies, equity swaps, futures contracts, or options on such small cap U.S. companies or an index of such small cap U.S. companies. The Fund will also purchase United States Treasury securities and maintain collateral during periods when derivatives are utilized to capture the night effect on the small cap U.S. companies. The Adviser and Sub-Adviser currently consider small cap companies to be those with a capitalization range of approximately $20 million to $10 billion. The Fund will achieve its desired exposure in one of three ways, or a combination thereof. These are owning individual securities, owning third-party ETFs or owning United States Treasury securities, and using futures contracts or total return swaps. In the case of owning the individual securities, third-party ETFs, or United States Treasury securities, an actively managed strategy of trading futures will be used to achieve overnight returns. Overnight returns are achieved by having exposure to the small cap U.S. companies from the close of the trading day and then removing that exposure at the start of the next trading day. Investments made to capture the returns of the small cap U.S. companies will be made with the goal of maximizing the benefits of the night effect. The Fund has the flexibility to hold customized swap contracts with a single counterparty or multiple counterparties designed to achieve the overnight returns of the small cap U.S. companies. Show less