SoFi launches Social 50 Income ETF for monthly income

SoFi has launched the SoFi Social 50 Income ETF under the ticker SFYI. The fund is listed on NYSE Arca.

The new exchange-traded fund invests in 50 US-listed stocks widely held in SoFi Invest self-directed brokerage accounts and pairs that portfolio with an actively managed options strategy. The approach is designed to give investors access to monthly income distributions alongside long-term growth.

SFYI expands SoFi's existing lineup of branded ETFs and builds on the SoFi Social 50 ETF, which trades under the ticker SFYF. That earlier fund tracks the 50 stocks most widely held by members of the SoFi Active Invest community, while the new product adds options-based income strategies to a similar, member-driven stock-selection model.

Current holdings in SFYF include Tesla, NVIDIA and Amazon. The stock basket is rebalanced each month and weighted by the amount members have invested in each company at month-end.

Income focus

SoFi said many investors use options strategies, such as covered calls, as part of an income-oriented approach, but those strategies can require larger upfront positions, time, and ongoing risk management. SFYI is aimed at investors who want access to those strategies through a single listed fund rather than building and managing positions themselves.

The fund uses tools including covered calls and call spreads. SoFi said the ETF structure lowers the capital needed to gain exposure to an options-based income approach while spreading that strategy across a broader portfolio rather than relying on a single stock.

Tidal Investments is the investment adviser to SFYI. SoFi acts as a brand sponsor and marketing support provider and does not make investment decisions or serve as an investment adviser for the fund.

SFYI has a gross expense ratio of 0.73%. Investors can buy the ETF through SoFi Invest and other brokerage platforms in the secondary market.

ETF expansion

The launch adds another product to SoFi's growing ETF lineup. Other SoFi-sponsored funds advised by Tidal Investments include the SoFi Agentic AI ETF, the SoFi Select 500 and the SoFi Enhanced Yield ETF.

SoFi, which describes itself as a digital financial services platform, said it has 14.7 million members using its products across borrowing, saving, spending, investing and crypto. Its Galileo technology platform serves 133 million global accounts for financial institutions, fintech groups and brands.

Brian Walsh, Head of Advice and Planning at SoFi, said the backdrop for income-focused investors has become harder to navigate.

"Income-seeking investors are being challenged to rethink their traditional playbook amid an uncertain interest rate environment and economic volatility, but they may not know where to start," Walsh said.

"With SFYI, we are providing investors with another way to pursue their objectives. By combining the most widely held stocks by members of the SoFi Active Invest community with a strategy that seeks monthly income and potential growth, SFYI helps simplify options-based strategies by offering exposure through a single ETF," he added.