The team at an online bank is expanding their ETF lineup, this time with an options-powered income fund.
Today, the folks at SoFi Technologies, Inc. (SoFi
of the SoFi Enhanced Yield ETF
(THTA on the NYSE Arca, Inc.
). The new fund is a series
of the Tidal ETF Trust
THTA's inception date was yesterday, and by the end of the day it had about $1.5 million in AUM. The new ETF comes with an expense ratio of 49 basis points.
SoFi serves as sponsor of THTA, ZEGA Financial, LLC
serves as sponsor and subadvisor, and Tidal Investments LLC
(fka Toroso investments LLC, a Tidal Financial Group company) [profile
] serves as investment advisor. The new fund's PM team includes: Mick Brokaw
and Jay Petrichelli
, portfolio managers from ZEGA; and Qiao Duan
and Charles Ragauss
, PMs from Tidal.
THTA's other service providers include: Godfrey & Kahn, S.C.
as counsel; Tait, Weller & Baker LLP
as independent accounting firm; Tidal ETF Services LLC (another Tidal FG company) as administrator; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services
) as fund accountant, sub-administrator, and transfer agent; and U.S. Bank National Association as custodian.
SoFi first entered the ETF space in 2019. The firm now offers nine ETFs with about $650 million in combined AUM.
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