SoFi Gig Economy
ALTAR
Score™
0.3% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
-479.1x P/Sales
ratio
3.6x
P/BV
ratio
5.7x Div.
yield
0.2%


  • 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 08, 2019
Assets (mns) $8
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 55
Wgt avg mkt cap (mns) $129,032
Large cap (>$10bn) 61.1%
Mid cap ($2-10bn) 23.6%
Small cap (<$2bn) 15.3%
Developed mkts 79.0%
Emerging mkts 21.0%

TOP TEN HOLDINGS
UBER TECHNOLOGIES, INC. 3.5 %
FIVERR INTERNATIONAL LTD. 3.3 %
LYFT INC CLASS A 3.1 %
SQUARE, INC. CLASS A 3.0 %
PAYPAL HOLDINGS INC 3.0 %
TWITTER INC 3.0 %
ETSY, INC. 2.9 %
SNAP, INC. CLASS A 2.9 %
BAIDU INC - SPON ADR 2.8 %
ALIBABA GROUP HOLDING LTD. SPONSOR 2.8 %
Total 30.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 57.3 %
CHINA 21.6 %
GERMANY 4.3 %
NETHERLANDS 3.7 %
ISRAEL 3.3 %
JAPAN 2.5 %
ARGENTINA 2.4 %
CANADA 1.7 %
SWITZERLAND 1.0 %
BRITAIN 0.6 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-0.3% -- -- -- -0.3%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $20.03
30d moving avg. $18.99
Annualized volatility 0.0%
Short interest (ETF) 0.3%
Relative strength (RSI) 72

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.34%
ADV underlying (mns) $33,245

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the SoFi Gig Economy 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™: 0.3%


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
(%)
PLAT WisdomTree Modern Tech Platforms 45.7 45 14 2.7 +2.4
ARKF ARK Fintech Innovation 35.8 75 -16 1.8 +1.5
ARKW ARK Web x.O 30.8 75 -16 -0.8 -1.1
OGIG O'Shares Global Internet Giants 29.2 48 11 1.2 +0.9
PNQI Invesco Nasdaq Internet 27.4 62 -3 2.5 +2.2
IBUY Amplify Online Retail 26.0 65 -6 -0.6 -0.9
TTTN TigerShares China-U.S. Internet Titans 23.7 59 0 3.8 +3.5
SOCL Global X Social Media 23.6 65 -6 4.0 +3.7
GBUY Goldman Sachs Motif New Age Consumer 23.3 50 9 2.8 +2.5
EBIZ Global X E-commerce 22.7 68 -9 2.6 +2.3
EMQQ Emerging Markets Internet & E-Commerce 22.7 86 -27 3.4 +3.1
MILN Global X Millennials Thematic 22.3 50 9 2.7 +2.4
FDN First Trust DJ Internet 22.3 52 7 2.9 +2.7
XWEB SPDR S&P Internet 22.2 35 24 1.8 +1.5
FDNI First Trust Dow Jones International Internet 21.9 65 -6 3.9 +3.6
AIQ Global X Future Analytics Tech 21.9 68 -9 4.1 +3.8
BLCN Reality Shares NASDAQ NextGen Economy 19.7 68 -9 5.2 +4.9
KWEB KraneShares CSI China Internet 19.5 76 -17 3.9 +3.6
XITK SPDR FactSet Innovative Technology 18.5 45 14 0.6 +0.3
IRBO iShares Robotics and Artificial Intelligence 18.3 47 12 2.8 +2.5

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
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
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 4.7 %
Divided by: Fwd. P/BV 5.4 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 0.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.42 CATEGORY
AVERAGE
1.54
 
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.