TGIF: Newly Launched Weekly Dividend Fund

Seeking AlphaETF AnalysisTGIF: Newly Launched Weekly Dividend FundOct. 29, 2020 11:29 AM ET|| About: SoFi Weekly Income ETF (TGIF), Includes: BEP, BEP.PA, BRENF, F, F.PB, HYG, MCO, NLOK, NMRK, ON, ORCC, SPGI, TERP, TEVA, TEVJF, WYNDby: Nick AckermanNick Ackerman CEF/ETF Income LaboratoryCEF/ETF income and arbitrage strategies, 8%+ portfolio yieldsSummaryThese are my quick thoughts on this newly launched and interesting ETF.
The fund is the first fund to target a weekly dividend payout.
This fund is probably too new to invest in, but it will certainly be interesting to watch.
Written by Nick Ackerman, co-produced by Stanford Chemist
SoFi Weekly Income ETF (NYSEARCA: TGIF) was very recently launched at the start of October of this year. They have the ambitious goal of trying to provide weekly dividends for investors. The ticker symbol is a nice touch on the saying "thank God it's Friday." Besides, what's better than receiving dividend income quarterly or monthly? The greater the frequency of a dividend means an investor can compound slightly faster and invest in investments that provide regular income in retirement.
SoFi is a newer financial company that a lot of investors may not be familiar with yet. They have just begun to offer ETFs between 2019 and 2020. TGIF is their latest entry into the competitive space, launching on October 1st, 2020. SoFi itself was founded in August of 2011. They originally were, and still operate, as a peer to peer lending platform. With the launch of these ETFs, they are continuing on their branching out as a financial services company.

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About The Fund
TGIF seeks to "provide weekly income by investing in investment-grade and high-yield fixed-income securities." They describe the fund as: "the first-ever ETF that seeks to distribute income on a weekly basis." Targeting a portfolio that provides "exposure to over 30 bonds across multiple industries and capital structures." They also target a low duration... Read more