SoFi Expands ETF Lineup with the Social 50 Income ETF (SFYI), Seeking Income and Pursuing Growth
The Social 50 Income ETF combines exposure to stocks widely held in SoFi member-driven accounts, with an active options strategy that seeks monthly income and long-term growth
SoFi Technologies, Inc. (NASDAQ: SOFI), the everything app for digital financial services, today announced the availability of a new exchange-traded fund (ETF), the SoFi Social 50 Income ETF (NYSE Arca: SFYI). SFYI invests in the top 50 U.S.-listed stocks held by SoFi Invest self-directed brokerage accounts and adds an actively managed options strategy designed to pursue monthly income distributions and growth potential.
Many investors use options strategies, like covered calls, as part of an income-oriented investment approach. But putting those strategies into practice can require a significant upfront investment, ongoing risk management, and time to execute.
SFYI offers a simpler way to access potential income by combining a professionally managed options strategy with a diversified portfolio of stocks held in SoFi Invest self-directed brokerage accounts. Through a single ETF, investors can gain exposure to an options-based income strategy without having to build and manage covered call positions on their own.
