SoFi Gig Economy ETF up over 100 per cent since March low
The SoFi Gig Economy ETF (GIGE) reached a new 52-week high on 26 August, 2020, closing at a price of USD28.09, more than double (101.8 per cent)its 52-week low of USD13.92 on 16 March.
GIGE is in the top 30 of best-performing equity ETFs in the US this year (out of 1,482, not including leveraged funds). As of the most recent quarter end on 6/30/2020, GIGE was up 19.71 per cent year-over-year and 16.44 per cent since its inception on 8 May, 2019.
"In today's world, it's not just work-from-home, it's also work-from-anywhere, and the technology companies behind this revolutionary shift are some of the few bright spots in this economy," says SoFi CEO Anthony Noto. "GIGE has been able to capture these new trends and provide investors with diversified exposure to this exciting theme."
GIGE seeks to provide exposure to technology companies in the gig economy. Top holdings include payment companies such as PayPal (PYPL) and Square (SQ), tech platforms such as Fiverr (FIVR) and Upwork (UPWK), and e-commerce firms such as Pinduoduo (PDD) and Mercadolibre (MELI).