SoFi Smart Energy ETF
SHFT
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- SoFi Smart Energy ETF (NYSE Arca: SHFT) is an exchange-traded fund that seeks to track the performance, before fees and expenses, of the iClima Distributed Renewable Energy Index. The fund provides investors with exposure to global companies of any market capitalization involved in distributed energy generation, including renewable energy solutions such as solar power systems, energy storage technologies, electric vehicle charging infrastructure, smart grid components, and related power electronics; key holdings encompass firms like Enphase Energy Inc., SolarEdge Technologies Inc., Sunrun Inc., ChargePoint Holdings Inc., Plug Power Inc., and Tesla Inc., among others spanning semiconductors, inverters, battery systems, and installation services. It operates in the thematic equity segment focused on clean energy transition, targeting investors interested in decentralized renewable energy ecosystems, with geographic exposure across North America, Europe, and Asia. Originally launched in 2021 as the iClima Distributed Smart Energy ETF, SHFT was acquired and rebranded by SoFi Technologies, Inc. through its SoFi Invest platform in August 2022, alongside the introduction of complementary thematic funds like the SoFi Web 3 ETF (TWEB), with an expense ratio of 0.59%. This rebranding integrated the ETF into SoFi's growing lineup of accessible, low-cost investment vehicles sponsored by Social Finance, LLC and distributed by Foreside Fund Services, reflecting SoFi's strategic expansion into thematic ETFs amid rising demand for clean tech exposure—73% of surveyed SoFi Invest members expressed interest in such products. The fund, headquartered in San Francisco, California—the base of parent sponsor SoFi Technologies, Inc., founded in 2011—continues to emphasize equal-weighted indexing of companies modernizing energy grids through localized, modular renewable technologies, with ongoing portfolio adjustments to holdings as of late 2023.