SoFi’s new ETFs join a robust lineup of funds
designed to make investing more accessible to everyone
SoFi Technologies, Inc. (“SoFi”), the digital personal finance
company, today announced that SoFi Invest1 is launching two new
ETFs, SoFi Web 32 (NASDAQ: TWEB) and SoFi Smart Energy (NYSE:
ENRG), designed to make it easier than ever for people to invest in
two of the world’s fastest-growing industries and put their dollars
into the causes and technology they are most excited about.
"Our selection of SoFi-branded ETFs enables us to offer
accessible, affordable and diversified investments designed with
our members in mind, which has proved especially important for the
influx of new investors we’ve welcomed recently,” said Anthony
Noto, CEO of SoFi. “SoFi has a unique perspective on how the next
generation spends, saves, and invests their money given our breadth
of products. With this next phase of ETF launches, we’re focusing
on funds that help people get their money right while also allowing
them to invest in what they are most passionate about right now. We
know many of our members look at Web 3 and clean energy as
important parts of the future, and we are thrilled to be providing
low-cost investment vehicles designed to meet those interests.”
Additionally, SoFi is officially rebranding the existing SoFi
Gig Economy (NASDAQ: GIGE) ETF as the SoFi Be Your Own Boss
(NASDAQ: BYOB) ETF. This change will better reflect the fund’s goal
of investing in companies that embody the future of work, and have
transformed the way people access goods, services, and work over
recent years. The BYOB ETF is actively managed, with some of its
top current holdings including Airbnb (2.25%), Shopify (2.89%) and
Roblox (3.44%), in each case as of August 9, 2022. Holdings are
subject to change, and current BYOB holdings can be found at
https://www.sofi.com/invest/etfs/byob.
Each of the funds described in this release are available
through SoFi Invest, as well as all other brokerage platforms. The
new SoFi Web 3 and SoFi Smart Energy funds will be available for 59
basis points for all investors.
The SoFi Web 3 ETF (TWEB)
The SoFi Web 3 ETF provides investors with access to the
companies powering the next tech revolution and driving a
decentralized approach to the internet, such as the metaverse and
artificial intelligence. TWEB tracks the SoFi Solactive ARTIS® Web
3.0 Index, providing diversification by investing in 40 securities
across four themes - NFTs & Tokenization, Blockchain
Technology, Metaverse, Big Data & AI - solving the key problems
with the internet today.
The SoFi Smart Energy ETF (ENRG)
In 2021, a survey of SoFi Invest members showed 73% of members
reported they wanted a clean tech ETF. SoFi is meeting that strong
interest with the SoFi Smart Energy ETF (ENRG), partnering with
iClima to provide investors greater access to clean energy
investing.
ENRG is joining the SoFi ETF family (known previously as iClima
Distributed Smart Energy ETF, Ticker: SHFT), and the fund tracks
the iClima Distributed Renewable Energy Index. The index identifies
companies rapidly modernizing energy solutions by replacing
centralized fossil fuel-based grids with technologies that enable
electricity generation and storage using renewable energy sources
in a local, decentralized, and modular way.
Web 3 & Clean Energy Education
As part of the launch of the SoFi Web 3.0 and SoFi Smart Energy
funds, SoFi is also launching two new educational hubs: the
Sustainable Investing Guide for Beginners and Web 3 Guide for
Beginners. Many investors don’t know where to start when investing
in sectors or themes they are passionate about. These new
educational hubs will simplify complex topics to help investors of
every experience level better understand these industries.
With the influx of new retail traders and new industries that
have grown quickly in recent years, SoFi is committed to providing
vital educational resources and easy access to Certified Financial
Planners to ensure all members make the right decisions to help
them achieve their financial goals.
About SoFi
SoFi helps people achieve financial independence to realize
their ambitions. Our products for borrowing, saving, spending,
investing and protecting give our over four million members fast
access to tools to get their money right. SoFi membership comes
with the key essentials for getting ahead, including career
advisors and connection to a thriving community of like-minded,
ambitious people. SoFi is also the naming rights partner of SoFi
Stadium, home of the Los Angeles Chargers and the Los Angeles Rams.
For more information, visit SoFi.com or download our iOS and
Android apps.
About Tidal
Formed by ETF industry pioneers and thought leaders, Tidal sets
out to disrupt the way ETFs have historically been developed,
launched, marketed and sold. With a transparent, partnership
approach, Tidal offers a comprehensive suite of services,
proprietary tools, and methodologies designed to bring lasting
ideas to market. As advocates for ETF innovation, Tidal helps RIAs,
institutions and investment firms launch, manage and grow
innovative ETFs that clients demand. For more information, visit
tidaletfservices.com.
Cautionary Statement Forward-Looking Statements
This Press Release contains statements that are forward-looking
and as such are not historical facts. This includes, without
limitation, statements regarding the financial position, business
strategy and the plans and objectives of management for our future
operations; anticipated trends and prospects in the industries in
which our business operates; new products, services and related
strategies; and the impact on our business of the regulatory
environment and increased complexities with compliance that
accompany regulation as a bank holding company. These statements
constitute projections, forecasts and forward-looking statements,
and are not guarantees of performance. Such statements can be
identified by the fact that they do not relate strictly to
historical or current facts. When used in this Press Release, words
such as “aim”, “anticipate”, “believe”, “continue”, “could”,
“estimate”, “expect”, “intend”, “may”, “might”, “opportunity”,
“plan”, “possible”, “potential”, “predict”, “project”, “should”,
“strive”, “will”, “would” and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. Forward-looking
statements represent our current expectations regarding future
events and are subject to known and unknown risks and uncertainties
that could cause actual results to differ materially from those
implied by the forward-looking statements, and there can be no
assurance that future developments affecting us will be those that
we have anticipated. Among those risks and uncertainties are our
ability to achieve the value creation contemplated by the SoFi
Invest product, including our ability to enhance our existing
financial products and offer more competitive rates for our
members, the impact of additional regulation as a result of
becoming a bank holding company, changes in government regulations,
market conditions, including market interest rates, the trading
price and volatility of our common stock and risks relating to our
business, including those described in periodic reports that we
file from time to time with the Securities and Exchange Commission.
We do not undertake any obligation to update forward-looking
statements to reflect events or circumstances after the date they
were made, whether as a result of new information, future events or
otherwise, except as may be required under applicable securities
laws. As a result of a number of known and unknown risks and
uncertainties, our actual results or performance may be materially
different from those expressed or implied by these forward-looking
statements. You should not place undue reliance on these
forward-looking statements.
SOFI-F
Disclosures
1) SoFi Invest refers to the three investment and trading
platforms operated by Social Finance, Inc. and its affiliates
(described below). Individual customer accounts may be subject to
the terms applicable to one or more of the platforms below.
1) Automated Investing and advisory services
are provided by SoFi Wealth LLC, an SEC-Registered Investment
Adviser (“Sofi Wealth“). Brokerage services are provided to SoFi
Wealth LLC by SoFi Securities LLC.
2) Active Investing and brokerage services
are provided by SoFi Securities LLC, Member
FINRA(www.finra.org)/SIPC(www.sipc.org), (“Sofi Securities).
Clearing and custody of all securities are provided by APEX
Clearing Corporation.
3) SoFi Crypto is offered by SoFi Digital
Assets, LLC, a FinCEN registered Money Service Business.
For additional disclosures related to the SoFi Invest platforms
described above, including state licensure of SoFi Digital Assets,
LLC, please visit www.sofi.com/legal.
Neither the Investment Advisor Representatives of SoFi Wealth,
nor the Registered Representatives of SoFi Securities are
compensated for the sale of any product or service sold through any
SoFi Invest platform. Information related to lending products
contained herein should not be construed as an offer or
pre-qualification for any loan product offered by SoFi Lending Corp
and/or its affiliates.
2) Web 3.0 is the next iteration of the web and is expected to
be built upon the core concepts of decentralization, openness, and
greater user utility. Web 3.0 is likely to be built, in part, with
tokenization capabilities, such as non-fungible tokens (“NFTs”),
and blockchain technologies, each as described more below. It is
anticipated that technologies like blockchains will be used to
build Web 3.0’s fundamental building blocks. Additionally, it is
anticipated that big data analysis and artificial intelligence
approaches will play key roles in the development and support of
Web 3.0.
Shares of ETFs must be bought and sold at market price, which
can vary significantly from the Fund’s net asset value (NAV).
Investment returns are subject to market volatility and shares may
be worth more or less than their original value when redeemed. The
diversification of an ETF will not protect against loss. An ETF may
not achieve its stated investment objective. Rebalancing and other
activities within the fund may be subject to tax consequences.
IMPORTANT INFORMATION
Before investing you should carefully consider a Fund’s
investment objectives, risks, charges and expenses. This and other
information is in the prospectus. A prospectus may be obtained by
going to https://www.sofi.com/invest/etfs/. Please read the
prospectus carefully before you invest. There is no guarantee a
Fund’s investment strategy will be successful and you can lose
money on your investment in the fund. Shares may trade at a premium
or discount to their NAV in the secondary market.
TWEB Risks: Big Data & AI Risks. Companies that
develop or support the development of Big Data analytics systems
and AI systems may have limited product lines, markets, financial
resources or personnel. These companies typically face intense
competition and potentially rapid product obsolescence. These
companies are also heavily dependent on intellectual property
rights and may be adversely affected by loss or impairment of those
rights. Blockchain Technology Risk. Blockchain technology is
a relatively new and untested technology which operates as a
distributed ledger. The risk associated with the blockchain
technology may not emerge until the technology is widely used.
Blockchain systems could be vulnerable to fraud, particularly if a
significant minority of participants colluded to defraud the rest.
Cybersecurity Risk. With increased use of technologies such
as the internet to conduct business, the Fund is susceptible to
operational, information security, and related risks. Metaverse
Risk. Metaverse companies provide internet navigation services
and reference guide information and publish, provide or present
proprietary advertising and/or third party content. In addition,
they often derive a large portion of their revenues from
advertising, and a reduction in spending by or loss of advertisers
could seriously harm their business. Models and Data Risk.
The composition of the index is heavily dependent on proprietary
quantitative models as well as information and data supplied by
third parties (“Models and Data”). NFT & Tokenization
Industry Risk. The NFT and tokenization industries are rapidly
evolving and intensely competitive, and are subject to changing
technologies, shifting user needs, and frequent introductions of
new products and services. If the NFT marketplace fails to continue
to grow, firms that support NFT marketplaces may lose money or go
out of business. Foreign Securities Risk. Investments in
securities or other instruments of non U.S. issuers involve certain
risk not involved in domestic investments and may experience more
rapid and extreme changes in value than investments in securities
of U.S. Passive Investment Risk. The Fund invests in the
securities included in, or representative of, its Index regardless
of its investment merit.
As with all ETFs, Shares may be bought and sold in the secondary
market at market prices. Although it is expected that the market
price of Shares will approximate the Fund’s NAV, there may be times
when the market price of Shares is more than the NAV intra-day
(premium) or less than the NAV intra-day (discount) due to supply
and demand of Shares or during periods of market volatility. The
Fund is a recently organized management investment company with no
operating history. As a result, prospective investors do not have a
track record or history on which to base their investment
decisions. Because the Fund is “non-diversified”, it may invest a
greater percentage of its assets in the securities of a single
issuer or a smaller number of issuers than if it was a diversified
fund.
ENRG Risks. An investment in the Fund is subject to
numerous risks including the possible loss of principal. There can
be no assurance that the Fund will achieve its investment
objective. Equity securities, such as common stocks, are subject to
market, economic and business risks that may cause their prices to
fluctuate. As with all ETFs, Fund shares may be bought and sold in
the secondary market at market prices. The market price normally
should approximate the Fund’s NAV per share (but the market price
sometimes may be higher or lower than the NAV. The Fund is new with
a limited operating history. There are a limited number of
financial institutions authorized to buy and sell shares directly
with the Fund, and there may be a limited number of other liquidity
providers in the marketplace. There is no assurance that Fund
shares will trade at any volume, or at all, on any stock exchange.
Low trading activity may result in shares trading at a material
discount to NAV. Please see the prospectus and summary prospectus
for a complete description of principal risks. Models and Data
Risk: The composition of the Index is heavily dependent on
proprietary quantitative models as well as information and data
supplied by third parties (“Models and Data”). Non
Diversification Risk: Because the Fund is “non diversified”, it
may invest a greater percentage of its assets in the securities of
a single issuer or a smaller number of issuers than if it was a
diversified fund.
The Fund’s investments will be concentrated in an industry or
group of industries to the extent the Index is so concentrated. In
such event, the value of Shares may rise and fall more than the
value of shares that invest in securities of companies in a broader
range of industries. Investments in securities or other instruments
of foreign securities involve certain risks not involved in
domestic investments and may experience more rapid and extreme
changes in value than investments in securities of U.S. companies.
Distributed Energy Companies typically face intense competition,
short product lifecycles and potentially rapid product
obsolescence. These companies may be significantly affected by
fluctuations in energy prices and in the supply and demand of
renewable energy, tax incentives, subsidies and other governmental
regulations and policies.
SoFi ETFs are distributed by Foreside Fund Services.
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version on businesswire.com: https://www.businesswire.com/news/home/20220808005890/en/
Media Melanie Garvey mgarvey@sofi.org
Investors SoFi Investor Relations IR@sofi.com
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