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SoFi Releases SoFi Gig Economy ETF (GIGE) and SoFi 50 ETF (SFYF)

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SoFi announced today the availability of its two newest exchange-traded funds (ETFs): the SoFi Gig Economy ETF (NASDAQ: GIGE) and the SoFi 50 ETF (NYSE: SFYF), further extending the company’s approach of providing members access to unique investing opportunities.

The SoFi Gig Economy ETF (GIGE) is an actively managed fund, advised by Toroso Investments, that is designed to seek long term capital appreciation by capturing exposure to the economic shift toward gig-oriented companies. The “gig economy” refers to a group of companies that embrace and support the workforce in which employment is based around short-term engagements that allow for flexibility and personal freedom and temporary contracts. The fund is structured so that most companies that IPO can be included in the portfolio within 31 days of their IPO, as opposed to traditional passive funds that must likely wait 60 to 90 days to include a new IPO.

The SoFi 50 ETF (SFYF) tracks the performance, before fees and expenses, of the Solactive SoFi US 50 Growth Index, by capturing the performance of 50 of the 1,000 largest publicly-traded U.S. companies that have the highest growth score based on three key signals: top-line revenue growth, net income growth, and forward-looking consensus estimates of net income growth. The index is equally weighted.

“Our members are excited by high-growth and gig economy companies because these companies are in many cases part of their lives,” said SoFi CEO Anthony Noto. “We’re giving our members a way to get started investing by buying what they know and investing in themselves.”

GIGE will be listed on Nasdaq with an expense ratio of 59 basis points. SFYF, which is designed to track the performance of an index developed by Solactive AG, will be listed on the NYSE Arca and has an expense ratio of 29 basis points. SoFi partnered with Tidal ETF Services for the trust, strategy, administrative and operational aspects of the ETFs.

The introduction of GIGE and SFYF comes on the heels of SoFi’s recent launch of two waived-fee* ETFs: the SoFi Select 500 ETF (SFY)and the SoFi Next 500 ETF (SFYX), and the recent rollout of SoFi Invest, an investing platform that offers both Active (brokerage) and Automated (robo-advisor) investing with no commissions or management fees. All of SoFi’s ETFs are available through SoFi Invest, as well as through any other brokerage account.

Additional information, including fact sheets and a prospectus, can be found on SoFi’s website at SoFi.com/Invest/ETFs.

Aneta Larkins

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