FinTech News
SoFi Introduces New Agentic AI ETF
The FinTech bank SoFi is launching another new exchange-traded fund (ETF).
About the SoFi Agentic AI ETF:
This week, SoFi announced the debut of an Agentic AI ETF. The ETF will list on the New York Stock Exchange under the ticker symbol $AGIQ. As with other ETFs, this means that investors can purchase shares of AGIQ regardless of whether or not they’re using the SoFi Invest platform.
The SoFi Agentic AI ETF will track the BITA US Agentic AI Select Index, which is comprised of U.S. companies that are involved in AI technologies. This could mean the company has a hand in developing, providing, or utilizing agentic AI technologies. For example, companies involved in self-driving vehicle tech, AI assistants, cloud computing, and more may be included. Currently, the ETF includes Salesforce, NVIDIA, Palantir, and Tesla, among others. SoFi does note that included holdings are subject to change at any time.
As far as fees, SoFi says that AGIQ has a gross expense ratio of 0.69%. and a management fee of 0.69%.
AGIQ is the latest in a series of SoFi ETFs it’s launched in partnership with Tidal Investments (which advises on each). Other available options include the SoFi Select 500 (SFY), SoFi Next 500 (SFYX), SoFi Social 50 (SFYF), and the SoFi Enhanced Yield ETF (THTA).
What They’re Saying:
Announcing the latest ETF, SoFi’s Head of Advice and Planning Director Brian Walsh said, “Emerging market themes can be challenging to capture, especially for new or casual investors – but with the SoFi Agentic AI ETF, investors can easily tap into the next evolution of AI.”
Walsh continued, “We’re excited to add AGIQ into our ETF suite to give our members another opportunity to expand their portfolios and access sophisticated investment strategies.”
My Thoughts:
Since “AI” continues to be the magic word, it’s no wonder that SoFi would want to get its piece by offering this ETF. Ironically, though, other indices such as the S&P 500 are already heavily weighted with AI companies. In fact, due to its success, NVIDIA is 6.98% of the S&P.
Meanwhile, there’s already talk about a big AI bubble that’s bound to pop. If such a prophecy were to come true, this ETF would be particularly vulnerable. Of course, there’s also plenty of room for upside — and, importantly, no one can predict the future.
Ultimately, if this new $AGIQ ETF is of interest to you, you can purchase shares on SoFi or via other brokerage accounts.
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