THTA
SoFi Enhanced Yield ETF
THTA is an actively managed fund that invests in US government securities combined with a credit spread option strategy. The funds goal is to generate monthly income, and pursue risk-adjusted returns, independent of trends in the equity and bond markets.
Risk Management
DERIVATIVES
Active
MANAGEMENT STYLE
35.7 M
ASSETS UNDER MGMT
49 bp
EXPENSES
Fund Basics
| Fund sponsor | |
| Category | Risk Management |
| Asset class | Derivatives |
| Website | link... |
| Inception date | Nov 15, 2023 |
| Assets (mns) | $36 |
| Expense ratio | 49 bp |
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Monthly |
| Taxation | 1099 |
| Derivatives-based | Yes |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top Holdings
| UNITED STATES TREASURY BILL 11/28/2025 | 43.8 % |
| UNITED STATES TREASURY NOTE/BOND 3% 07/15/202 | 31.9 % |
| UNITED STATES TREASURY NOTE/BOND 3.875% 01/15 | 24.0 % |
| SPXW US 05/02/25 P4400 | 11.4 % |
| UNITED STATES TREASURY BILL 08/14/2025 | 3.5 % |
| CASH & OTHER | -2.2 % |
| SPXW US 05/02/25 P4450 | -12.4 % |
Asset Allocation
Historical Performance
Standardized Performance (as of 04/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -22.3% | -26.4% | -- | -- | -- | -- | -- | -18.5% |
| Dividend Yield | 3.2% | 9.5% | -- | -- | -- | -- | -- | 9.9% |
| Total Returns | -19.1% | -16.9% | -- | -- | -- | -- | -- | -8.6% | Ann. Volatility | 51.9% | 31.6% | -- | -- | -- | -- | -- | 26.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.31 | 4% |
| MSCI EAFE | 0.37 | 5% |
| MSCI Emg Mkts | 0.25 | 1% |
Liquidity Measures
| Avg. volume (000) | 86 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.50% |
| ADV of underlying (mns) | $0 |
Technical Indicators
| Recent close | $14.86 |
| 30d moving avg. | $16.23 |
| Annualized volatility | 20.1% |
| Relative strength (RSI) | 36 |
| Short interest (ETF) | 1.6% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Expense Analysis
| Peer Group | Active Risk Management Derivatives ETFs |
| # of ETFs | 109 |
| Avg. Expense Ratio | 85.0 bp |
| Std. Deviation | 17 bp |
| THTA (49 bp) Percentile rank | 3 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| THTA | 49.0 | 50.3 | 99.3 |
| Peer Avg. | 90.6 | 32.1 | 122.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .