Online personal finance website and lender SoFi will be the first investment platform to offer zero free ETFs (exchange-traded funds). They recently filed for a series of these funds that will not charge any management fees. SoFi will offer two free ETFs:
- SoFi 500 ETF (SFY)
- SoFi Next 500 ETF (SFYX)
They will offer two offer ETFs with management fees:
- SoFi 50 ETF (SFYF)
- SoFi Gig Economy ETF (GIGE)
At this stage fees will be waived until March 27th, 2020, although some are expecting that is likely to be extended. SoFi also recently launched SoFi Money, a hybrid checking/savings account.
Hat tip to ETF.com via reader PH
