ETF Hearsay: New ETF filed: SonicShares Airlines, Hotels, Cruise Lines ETF

New ETF filed: SonicShares Airlines, Hotels, Cruise Lines ETF

SonicShares Airlines, Hotels, Cruise Lines ETF
Ticker: TRYP
Exchange: NYSE Arca
Expense ratio: 0.75%

Original filing date: February 25, 2021
Effective date: May 11, 2021
Listing Date: May 13, 2021

CUSIP: 886364728

Active: No

Index: Solactive Airlines, Hotels, Cruise Lines Index

Investment Objective:
Track the performance, before fees and expenses, of the Solactive Airlines, Hotels, Cruise Lines Index

Investment Strategy / Index Methodology:
Companies can be based or listed anywhere in the world, but must have a minimum of $2 billion in market cap.

To be included in the index, companies must derive at least 50% of revenues from air services or cruise line services, or hotel services, broadly.

Here's an index methodology twist and where it gets interesting:

Top 3 companies in each industry get allocated 4.5% each, for a total of 40.5% of the index.

The remainder of the index (50.5%) gets allocated among the remaining eligible companies, weighted by market capitalization.

Adviser: Toroso Investments, LLC
Sub-Adviser / License owner of brand name "SonicShares": Lucania Investments LLC

Administrator: Tidal ETF Services LLC
Fund accountant: U.S. Bancorp Fund Services, LLC, doing business as U.S. Bank Global Fund Services
Transfer agent: U.S. Bancorp Fund Services, LLC, doing business as U.S. Bank Global Fund Services

Custodian: U.S. Bank National Association
Distributor: Foreside Fund Services, LLC
Legal counsel: Godfrey & Kahn, S.C.
External accounting: Tait, Weller & Baker LLP
Compliance: Cipperman Compliance Services, LLC

Prospectus is here.

Final prospectus is here.