SonicShares launches airlines, hotels and cruise lines ETF
SonicShares has launched the SonicShares Airlines, Hotels, Cruise Lines ETF (TRYP), which tracks the Solactive Airlines, Hotels, Cruise Lines Index.
TRYP is the only US-listed ETF that provides investors exposure to three major components of the travel industry: airlines, hotels and cruise lines, all of which are well-represented in TRYP’s top 10 holdings.
It is difficult to overstate the extent to which the pandemic impacted the travel industry. Within the span of a month in 2020, leisure and business travel all but stopped. However, investors, like travellers, look to the future and as the world emerges from the Covid-19 pandemic, the industry that arguably suffered the most from global shutdowns is poised for what many feel is a dramatic recovery as pent up demand for travel is unleashed.
“Prior to the pandemic, global travel and tourism enjoyed unprecedented annual growth as travellers across the globe recognised the value of experiences over the consumption of goods,” says Paul Somma, the Founder of SonicShares. “Unfortunately, the pandemic put this trend on hold. As the pandemic recedes, travellers the world over appear eager to get back on the road, and investors can participate in this potential travel rebound with TRYP.”
Investors looking to take advantage of a travel recovery can utilise TRYP as a broad-based, pure-play investment in three of the primary drivers of the travel industry. And beyond the post-pandemic recovery, TRYP can be an attractive way for investors to express a bullish view on the travel industry, while enjoying TRYP’s potential for ongoing income.
SonicShares partnered with Tidal ETF Services to bring TRYP to market.