SoFi launches new income-focused ETF based on member stock holdings

SoFi Technologies (NASDAQ: SOFI) has launched a new exchange-traded fund, the SoFi Social 50 Income ETF (NYSE Arca: SFYI), which invests in the top 50 U.S.-listed stocks held by SoFi Invest self-directed brokerage accounts and applies an actively managed options strategy aimed at generating monthly income distributions.

The fund is structured around the same stock holdings as SoFi's existing SoFi Social 50 ETF (NYSE Arca: SFYF), which currently includes names such as Tesla, Nvidia, and Amazon, with holdings rebalanced and weighted monthly based on member investment activity. SFYI adds covered calls and call spreads to that portfolio as income-generating mechanisms.

Tidal Investments LLC, a Tidal Financial Group company, serves as investment adviser to SFYI. SoFi acts as brand sponsor and marketing support provider but does not make investment decisions or act as investment adviser for the fund. The gross expense ratio is 0.73%.

Brian Walsh, Head of Advice and Planning at SoFi, said in a statement: "With SFYI, we are providing investors with another way to pursue their objectives. By combining the most-widely held stocks by members of the SoFi Active Invest community with a strategy that seeks monthly income and potential growth, SFYI helps simplify options-based strategies by offering exposure through a single ETF."

SFYI is listed on NYSE Arca and is available through SoFi Invest and other brokerage platforms. The fund carries standard investment risks, including possible loss of principal. There is no guarantee the fund will achieve its investment objective or make distributions in any given month. The fund is classified as non-diversified and has no prior operating history.

SFYI is distributed by Foreside Fund Services, LLC, which is not affiliated with SoFi or Tidal. The information in this article is based on a press release from SoFi Technologies.

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