SoFi Technologies, Inc.
(NASDAQ:SOFI) expanded its ETF lineup with the launch of the SoFi Social 50 Income ETF (NYSE:SFYI), a new fund designed to combine exposure to the 50 most widely held U.S.-listed stocks in SoFi Invest self-directed brokerage accounts with an actively managed options strategy.
Key features of SFYI -Invests in the 50 most widely held U.S.-listed stocks across SoFi Invest self-directed brokerage accounts. -Employs an actively managed options strategy, including covered calls and call spreads, to seek monthly income distributions alongside growth potential. -Offers a lower capital barrier, as investors can access an options-based income strategy through a single ETF instead of owning at least 100 shares required for traditional covered call strategies. -Provides access to complex options strategies through a convenient ETF structure. -Applies its options strategy across a diversified portfolio rather than a single stock. -Builds on the existing SoFi Social 50 ETF (NYSE:SFYF), which tracks the platform's 50 most widely held stocks. -Current SFYF holdings include Tesla, inc (NASDAQ:TSLA), NVIDIA Corp (NASDAQ:NVDA), and Amazon.com, Inc (NASDAQ:AMZN), with holdings rebalanced monthly based on member investment levels. -Carries a gross expense ratio of 0.73%.
