ETF Research Center

The SoFi Select 500 ETF seeks to track the performance, before fees and expenses, of the Solactive SoFi US 500 Growth Index.

FUND BASICS
Category	US Equities
Fund Sponsor	SoFi
Website	www.sofi.com/invest/etfs/
Inception date	Apr 10, 2019
Assets (mns)	$64
Currency	USD
Expense ratio	0 bp
Distributions	Quarterly

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

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	496
Wgt avg mkt cap (mns)	$315,731
Large cap (>$10bn)	98.2%
Mid cap ($2-10bn)	1.8%
Small cap (<$2bn)	0.0%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	26.0 %
AMAZON.COM INC	5.3 %
MICROSOFT CORP	4.7 %
APPLE INC	4.0 %
FACEBOOK	2.7 %
ALPHABET INC. CLASS C	2.1 %
ALPHABET INC. CLASS A	1.8 %
JPMORGAN CHASE & CO	1.4 %
CHEVRON CORP	1.4 %
EXXON MOBIL CORP	1.3 %
VISA INC-CLASS A SHARES	1.3 %

TOP COUNTRY EXPOSURE
	UNITED STATES	97.0 %
	IRELAND	1.3 %
	BRITAIN	0.5 %
	SWITZERLAND	0.3 %
	BERMUDA	0.2 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru November 30)
Year-to-date	1 year	5 years	10 years	Since Incep.
7.7%	--	--	--	7.7%

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

Technical Indicators
Recent close	$10.87
30d moving avg.	$10.76
Annualized volatility	0.0%
Short interest (ETF)	1.8%
Relative strength (RSI)	69

Liquidity measures
Avg. volume (thou.)	32
Turnover	0.5%
Bid/Ask (% of price)	0.21%
ADV underlying (mns)	$150,530

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the SoFi Select 500 ETF based on the alternatives' overlap in portfolio holdings with SFY. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

SFY

Expense:

0 bp

ALTAR Score™:

5.6%

ALTERNATIVE ETFs BASED ON OVERLAP WITH SFY
Ticker	Fund Name	Overlap¹ vs SFY (%)	Expense ratio (bp)	Savings vs SFY (bp)	ALTAR Score™ (%)	ALTAR vs SFY (%)
PBP	Invesco S&P 500 Buy/Write	85.5	49	-49	5.5	-0.1
VV	Vanguard Large-Cap ETF	85.5	4	-4	5.8	+0.2
HSPX	Global X S&P 500 Covered Call	85.2	65	-65	5.3	-0.3
BBUS	JP Morgan Betabuilders U.S. Equity	85.2	2	-2	5.9	+0.3
SPY	S&P 500 SPDR	85.0	9	-9	5.9	+0.3
PBUS	Invesco PureBeta MSCI USA	85.0	4	-4	6.0	+0.4
IVV	iShares Core S&P 500	84.7	4	-4	5.9	+0.3
VOO	Vanguard S&P 500 ETF	84.7	3	-3	6.0	+0.4
SCHX	Schwab U.S. Large-Cap	83.9	3	-3	5.8	+0.2
SPYX	SPDR S&P 500 Fossil Fuel Reserves Free	82.9	20	-20	5.9	+0.3
SCHK	Schwab 1000 Index	82.6	5	-5	5.8	+0.2
SPXE	ProShares S&P 500 Ex-Energy	82.5	27	-27	5.9	+0.3
IWB	iShares Russell 1000	82.5	15	-15	5.7	+0.1
VONE	Vanguard Russell 1000	82.3	12	-12	5.8	+0.2
IYY	iShares DJ US Total Market	81.7	20	-20	5.7	+0.1
SPLG	SPDR Portfolio Large Cap	81.1	3	-3	5.8	+0.2
SCHB	Schwab U.S. Broad Market	79.4	3	-3	5.7	+0.1
ITOT	iShares Core S&P Total US	79.3	3	-3	5.6	+0.0
IWV	iShares Russell 3000	79.2	20	-20	5.5	-0.1
VTHR	Vanguard Russell 3000	79.1	15	-15	5.6	-0.0

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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

	2014	2015	2016	2017	2018	2019E	2020E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
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

Content on this tab for subscribers only

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 Select 500
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	16.7	%
Divided by: Fwd. P/BV	3.0	x
Less: Expense ratio	0	bp
Equals: ALTAR Score	5.6	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.46	CATEGORY AVERAGE	1.56

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.