SoFi Gig Economy ETF
ALTAR
Score™
-0.5% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
-122.3x P/Sales
ratio
4.1x
P/BV
ratio
4.5x Div.
yield
0.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The SoFi Gig Economy ETF seeks long-term capital appreciation by providing exposure to companies involved in the revolutionary shift towards a “gig” economy—a free-market system comprised of freelancers and shared resources, such as transport and real estate.

FUND BASICS
Category Global Equities
Fund Sponsor SoFi
Website www.sofi.com/invest/etfs/
Inception date May 07, 2019
Assets (mns) $10
Currency USD
Expense ratio 59 bp
Distributions

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Tiered
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 60
Wgt avg mkt cap (mns) $143,403
Large cap (>$10bn) 64.6%
Mid cap ($2-10bn) 19.9%
Small cap (<$2bn) 15.5%
Developed mkts 79.3%
Emerging mkts 20.7%

TOP TEN HOLDINGS
SQUARE, INC. CLASS A 3.5 %
UPWORK, INC. 3.5 %
FIVERR INTERNATIONAL LTD. 3.4 %
PAYPAL HOLDINGS INC 3.0 %
PINDUODUO, INC. SPONSORED ADR CLAS 3.0 %
SNAP, INC. CLASS A 2.9 %
MERCADOLIBRE INC 2.9 %
BAIDU INC - SPON ADR 2.9 %
ALIBABA GROUP HOLDING LTD. SPONSOR 2.8 %
TENCENT HOLDINGS LTD 2.7 %
Total 30.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 58.8 %
CHINA 22.4 %
NETHERLANDS 3.8 %
ISRAEL 3.4 %
ARGENTINA 2.9 %
JAPAN 2.6 %
CANADA 2.2 %
GERMANY 1.7 %
BELGIUM 1.0 %
SWITZERLAND 0.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
28.1% 19.7% -- -- 25.4%

Market Correlations
versus... Beta R-squared
S&P500 1.22 72%
MSCI EAFE 1.13 62%
MSCI Emg. Mkts. 0.88 56%

Technical Indicators
Recent close $25.02
30d moving avg. $23.74
Annualized volatility 31.2%
Short interest (ETF) 0.0%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.8%
Bid/Ask (% of price) 0.30%
ADV underlying (mns) $75,554

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the SoFi Gig Economy ETF ETF based on the alternatives' overlap in portfolio holdings with GIGE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GIGE Expense: 59 bp ALTAR Score™: -0.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GIGE
Ticker Fund
Name
Overlap1
vs GIGE
(%)
Expense
ratio
(bp)
Savings
vs GIGE
(bp)
ALTAR
Score™
(%)
ALTAR
vs GIGE
(%)
ARKF ARK Fintech Innovation ETF 33.4 75 -16 0.5 +1.0
PLAT WisdomTree Modern Tech Platforms Fund 32.3 45 14 1.1 +1.7
BUYZ Franklin Disruptive Commerce ETF 31.4 50 9 -0.2 +0.3
PNQI Invesco NASDAQ Internet ETF 30.5 62 -3 1.1 +1.6
OGIG O'Shares Global Internet Giants ETF 30.4 48 11 0.7 +1.2
ARKW ARK Web x.0 ETF 30.4 76 -17 -0.8 -0.3
GBUY Goldman Sachs Motif New Age Consumer ETF 26.6 50 9 1.9 +2.4
FDN First Trust Dow Jones Internet Index Fund 26.5 52 7 2.2 +2.7
IBUY Amplify Online Retail ETF 25.8 65 -6 -1.5 -1.0
MILN Global X Millennials Thematic ETF 24.5 50 9 2.5 +3.0
TTTN UP Fintech China-U.S. Internet Titans ETF 24.4 59 0 4.0 +4.5
AIQ Global X Future Analytics Tech ETF 23.5 68 -9 3.9 +4.4
XITK SPDR FactSet Innovative Technology ETF 23.3 45 14 0.3 +0.9
EBIZ Global X E-Commerce ETF 22.8 50 9 2.7 +3.2
GENY Principal Millennials Index ETF 22.6 45 14 3.8 +4.3
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 22.4 86 -27 2.1 +2.6
SOCL Global X Social Media ETF 22.2 65 -6 1.9 +2.4
FDNI First Trust Dow Jones International Internet ETF 22.2 65 -6 2.2 +2.7
BLCN Reality Shares Nasdaq NextGen Economy ETF 21.6 68 -9 4.0 +4.5
THNQ ROBO Global Artificial Intelligence ETF 21.4 68 -9 1.9 +2.4
BLOK Amplify Transformational Data Sharing ETF 20.1 70 -11 4.6 +5.1
XWEB SPDR S&P Internet ETF 19.8 35 24 -0.2 +0.3
XBUY Amplify International Online Retail ETF 19.5 69 -10 -1.0 -0.5
IRBO iShares Robotics & Artificial Intelligence ETF 19.5 47 12 2.7 +3.2
ARKK ARK Innovation ETF 18.9 75 -16 -2.8 -2.3
KWEB KraneShares CSI China Internet ETF 18.6 76 -17 1.7 +2.2
PGJ Invesco Golden Dragon China ETF 18.4 70 -11 3.1 +3.6
XNTK SPDR NYSE Technology ETF 17.4 35 24 3.6 +4.1
GVIP Goldman Sachs Hedge Industry VIP ETF 17.3 45 14 4.7 +5.2
ECON Columbia Emerging Markets Consumer ETF 16.9 59 0 4.4 +5.0
SKYY First Trust Cloud Computing ETF 16.8 60 -1 2.2 +2.7
ONLN ProShares Online Retail ETF 16.8 58 1 1.3 +1.9
FNI First Trust Chindia ETF 16.7 60 -1 2.7 +3.2
TECB iShares US Tech Breakthrough Multisector ETF 16.5 40 19 4.0 +4.5
CXSE WisdomTree China ex-State-Owned Enterprises Fund 16.1 32 27 5.8 +6.3
GDAT Goldman Sachs Motif Data-Driven World Etf 15.8 50 9 4.9 +5.4
CHIL Global X MSCI China Large-Cap 50 ETF 15.7 29 30 7.9 +8.4
SFYF SoFi 50 ETF 15.6 29 30 5.1 +5.6
ALFA AlphaClone Alternative Alpha ETF 15.3 65 -6 3.4 +3.9
ARKQ Ark Industrial Innovation ETF 15.2 75 -16 0.6 +1.1
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 15.2 59 0 4.2 +4.7
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 15.2 80 -21 3.8 +4.3
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 15.2 35 24 4.4 +4.9
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 14.8 57 2 4.9 +5.4
FPX First Trust US IPO Index Fund 14.5 58 1 2.6 +3.1
FXL First Trust Technology AlphaDEX Fund 14.0 61 -2 3.2 +3.8
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 13.9 18 41 5.6 +6.1
IGM iShares Expanded Tech Sector ETF 13.9 46 13 3.8 +4.3
IETC iShares Evolved U.S. Technology ETF 13.2 18 41 3.8 +4.3
QYLD Global X NASDAQ 100 Covered Call ETF 13.1 60 -1 3.5 +4.0
NUSI Nationwide Risk-Managed Income ETF 13.0 68 -9 3.5 +4.0
QQQ Invesco QQQ Trust 12.8 20 39 3.8 +4.3
CLOU Global X Cloud Computing ETF 12.7 68 -9 0.7 +1.2
IPO Renaissance IPO ETF 12.6 60 -1 23.1 +23.6
CACG ClearBridge All Cap Growth ETF 12.3 54 5 4.4 +4.9
FLCH Franklin FTSE China ETF 12.2 19 40 7.8 +8.4
MCHI iShares MSCI China ETF 12.2 59 0 7.4 +7.9
FTC First Trust Large Cap Growth AlphaDEX Fund 12.1 61 -2 2.9 +3.4
JOYY Infusive Compounding Global Equities ETF 12.1 50 9 3.8 +4.3
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 11.9 75 -16 3.8 +4.3
GXC SPDR S&P China ETF 11.9 59 0 7.6 +8.2
PTF Invesco DWA Technology Momentum ETF 11.9 60 -1 1.3 +1.8
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 11.7 21 38 2.9 +3.4
KALL KraneShares FTSE Emerging Markets Plus ETF 11.7 49 10 7.7 +8.2
TTAC TrimTabs All Cap U.S. Free-Cash-Flow ETF 11.7 59 0 3.6 +4.1
DWLD Davis Select Worldwide ETF 11.6 63 -4 6.4 +6.9
BOSS Global X Founder-Run Companies ETF 11.6 45 14 3.8 +4.3
FDG American Century Focused Dynamic Growth ETF 11.5 45 14 1.7 +2.2
KOMP SPDR Kensho New Economies Composite ETF 11.3 20 39 2.6 +3.1
QGRO American Century STOXX U.S. Quality Growth ETF 11.2 29 30 3.2 +3.7
SYG SPDR MFS Systematic Growth Equity ETF 11.2 60 -1 4.3 +4.8
JKH iShares Morningstar Mid-Cap Growth ETF 11.1 30 29 2.3 +2.8
IWF iShares Russell 1000 Growth ETF 11.0 19 40 4.1 +4.6
LEGR First Trust Index Digital Transaction & Process Technology E 10.8 65 -6 7.1 +7.6
JKE iShares Morningstar Large-Cap Growth ETF 10.8 25 34 2.8 +3.4
CQQQ Invesco China Technology ETF 10.7 70 -11 3.6 +4.1
CHIC Global X Nasdaq China Technology ETF 10.7 66 -7 3.5 +4.0
BVAL Brand Value ETF 10.5 65 -6 6.1 +6.6
BKF iShares MSCI BRIC ETF 10.4 69 -10 7.3 +7.8
CHIQ Global X China Consumer ETF 10.4 65 -6 7.0 +7.5
VEGN US Vegan Climate ETF 10.4 60 -1 5.2 +5.7
IWY iShares Russell Top 200 Growth ETF 10.4 20 39 4.1 +4.6
VUG Vanguard Growth Index Fund 10.4 4 55 4.0 +4.5
XT iShares Exponential Technologies ETF 10.4 47 12 5.1 +5.6
MXDU Nationwide Maximum Diversification US Core Equity ETF 10.3 34 25 4.9 +5.4
VONG Vanguard Russell 1000 Growth Index Fund 10.3 8 51 4.2 +4.7
TMFC Motley Fool 100 Index ETF 10.2 50 9 3.7 +4.2
TPAY Tortoise Digital Payments Infrastructure Fund 10.1 40 19 6.0 +6.5
SCHG Schwab U.S. Large-Cap Growth ETF 10.1 4 55 4.1 +4.6
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 10.1 32 27 6.1 +6.6
CN Xtrackers MSCI All China Equity ETF 10.0 50 9 7.5 +8.0
SFY SoFi Select 500 ETF 10.0 0 59 5.2 +5.7
FINX Global X FinTech Thematic ETF 10.0 68 -9 4.3 +4.8
IYW iShares U.S. Technology ETF 9.9 42 17 4.0 +4.5
FPXI First Trust International Equity Opportunities ETF 9.9 70 -11 3.2 +3.7
XOUT GraniteShares XOUT U.S. Large Cap ETF 9.9 60 -1 4.4 +4.9
CRBN iShares MSCI ACWI Low Carbon Target ETF 9.9 20 39 6.1 +6.6
ECOZ TrueMark ESG Active Opportunities ETF 9.8 58 1 4.2 +4.7

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
SoFi Gig Economy ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 0.4 %
Divided by: Fwd. P/BV 4.4 x
Less: Expense ratio 59 bp
Equals: ALTAR Score -0.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.45 CATEGORY
AVERAGE
1.50
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.