Investors looking for more frequent bond payouts may soon have the option to buy an exchange-traded fund that will distribute cash every Friday.
The SoFi Weekly Income ETF will trade under the ticker TGIF and focus on investment-grade and high-yield corporate bonds, according to a filing with the Securities and Exchange Commission. The fund will be actively managed and primarily hold securities maturing in less than three years.
The Friday payouts could be an attempt to attract older investors looking for more frequent income payments, said Eric Balchunas, a Bloomberg Intelligence ETF analyst. Most bond ETFs have monthly distributions, he said.
TGIF’s debut would also add further momentum to one of the hottest trends in the ETF market. Actively managed ETF launches are outpacing passive for the first time in 20 years. As of Thursday, 68 active exchange-traded funds had started trading in 2020, compared with 63 passive ones, according to data compiled by Bloomberg.
New Allspring research finds 401(k) participants want guidance on income and rollovers, not just portfolio automation.
Aging homeowners hold record housing wealth - but most advisors still aren't bringing it into retirement plans
$1.7M invested from an inheritance. Then the phone went dead.
The pre-IPO platform sold $430M in units while allegedly rigging prices behind the scenes.
A Nationwide survey finds 47% of GLP-1 users have never discussed the drugs’ financial impact with an advisor, even as many dip into savings.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
