SoFi Select 500 ETF
Ticker: SFY

SoFi Next 500 ETF
Ticker: SFYX

SoFi Social 50 ETF
Ticker: SFYF

SoFi Gig Economy ETF
Ticker: GIGE

SoFi Weekly Income ETF
Ticker: TGIF

SoFi Weekly Dividend ETF
Ticker: WKLY

Annual Report

February 28, 2022

SoFi Funds

TABLE OF CONTENTS

A Message to Our Shareholders

1

Performance Summaries

6

Portfolio Allocations

12

Schedules of Investments

14

Statements of Assets and Liabilities

43

Statements of Operations

44

Statements of Changes in Net Assets

45

Financial Highlights

51

Notes to Financial Statements

57

Report of Independent Registered Public Accounting Firm

73

Expense Examples

74

Trustees and Executive Officers

76

Statement Regarding Liquidity Risk Management Program

78

Additional Information

79

This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.

1

SoFi Funds

SHAREHOLDER LETTER

Market Commentary

U.S. equity markets stabilized and grew during 2021 as Covid-19 vaccines became widespread in developed economies but began to falter in the beginning of 2022 primarily due to the potential of the Federal Reserve’s warning of interest rate hikes in the face of widespread inflation. Additionally, global markets began to grind lower in early 2022 amid a constrained global supply chain and due to the possibility of and subsequent Russian invasion of Ukraine, which occurred near the end of February 2022. While most global economies were modestly to fully reopened in 2021, the threat of lingering Covid-19 outbreaks, such as the Omicron variant, led to cautious optimism throughout the investing world. The global trend toward digitalization and contactless transactions continued to grow throughout 2021. The implementation of the Work From Anywhere (“WFA”) phenomenon grew as stalwart industries known for requiring employees to be onsite (Financial Services among others) joined the movement, allowing employees to choose their working environment in order to increase productivity.

The information presented in this report relates to the Funds performance for the fiscal year ended February 28, 2022, and with respect to the SoFi Weekly Dividend ETF, the period from May 10, 2021 to February 28, 2022 (the “fiscal period”).

The SoFi Select 500 ETF

The SoFi Select 500 ETF (“SFY”) seeks to track the performance, before fees and expenses, of the Solactive SoFi US 500 Growth Index (the “SFY Index”).

Index Description:

In summary, the SFY Index is rebalanced and reconstituted annually. The process begins with the selection of the 500 largest constituents by market capitalization of the Solactive US Broad Market Index, which generally includes common stocks and equity interests in real estate investment trusts (“REITs”). The weight of these constituents is initially based on their free-float market capitalization and then adjusted upward or downward based on three growth-oriented factors:

1)trailing 12-month sales growth,

2)trailing 12-month earnings per share (“EPS”) growth, and

3)12-month forward-looking EPS growth consensus estimates.

The SFY Index’s construction does not naturally target any specific sector or industry, however, due to market conditions and certain factors, a sector such as Information Technology, may be relatively overweight/underweight for periods of time.

Fund Description:

SFY, via its index, is composed of 500 of the largest publicly traded U.S. companies and seeks to track the performance of the SFY Index.

Performance Overview:

During the fiscal period, SFY generated a total return of 13.89% (NAV) and 13.33% (Market). This compares to the 13.93% total return of the SFY Index, and the 16.39% total return of the benchmark, the S&P 500® Total Return Index, for the same period.

From a sector perspective, based on performance attribution to the overall portfolio, Information Technology and Financial were the leading contributors, while Communication Services, Materials, and Utilities were the leading detractors.

Reviewing individual stocks based on performance attribution to the overall portfolio, leading contributors included, Apple Inc., Microsoft Corp., and NVIDIA Corp. Conversely, the leading detractors included Paypal Holdings, Inc., Meta Platforms, Inc., and Zoom Video Communications, Inc.

The SoFi Next 500 ETF

The SoFi Next 500 ETF (“SFYX”) seeks to track the performance, before fees and expenses, of the Solactive SoFi US Next 500 Growth Index (the “SFYX Index”).

Index Description:

Similar to the SFY Index described above, in summary, the SFYX Index is rebalanced and reconstituted annually, and the process begins with the selection of the next 500 largest constituents by market capitalization of the Solactive US Broad Market Index, and generally

2

SoFi Funds

includes common stocks and equity interests in REITs. Again, the weight of these constituents is initially based on their free-float market capitalization and then adjusted upward or downward based on the same three growth-oriented factors:

1)trailing 12-month sales growth,

2)trailing 12-month EPS growth, and

3)12-month forward-looking EPS growth consensus estimates.

The Index’s construction does not target any specific sector or industry but may be relatively overweight/underweight certain sectors for periods of time.

Fund Description:

SFYX, via the SFYX Index, is composed of 500 publicly traded U.S. companies in the second tier of 500 companies based on market capitalization and seeks to track the performance of the Index.

Performance Overview:

During the fiscal period, SFYX generated a total return of 0.45% (NAV) and 0.69% (Market). This compares to the 0.39% total return of the SFYX Index, and the 7.98% total return of the benchmark, the S&P MidCap 400® Total Return Index, for the same period.

From a sector perspective, based on performance attribution to the overall portfolio, Materials, Energy, and Real Estate were the leading contributors, while Health Care and Consumer Discretionary were the leading detractors.

Reviewing individual stocks based on performance attribution to the overall portfolio, leading contributors included Datadog, Inc., Upstart Holdings, Inc., and Cloudflare, Inc. Conversely, the leading detractors included Chegg, Inc., Novavax, Inc., and Oak Street Health Inc.

The SoFi Social 50 ETF

The SoFi Social 50 ETF (“SFYF”) seeks to track the performance, before fees and expenses, of the SoFi Social 50 Index (the “SFYF Index”).

Index Description:

The SFYF Index is designed to reflect the 50 most widely held U.S.-listed equity securities in the self-directed brokerage accounts of SoFi Securities, LLC, an affiliate of Social Finance, Inc. (the “SoFi Accounts”), as weighted by aggregate holdings within the SoFi Accounts. Securities eligible for inclusion in the SFYF Index must: (a) be U.S.-listed equity securities held in SoFi Accounts, and (b) have an average daily trading volume of at least $10,000,000 during the preceding one-month and six-month periods (the “Eligible Universe”). The SFYF Index may include common stocks and equity interests in REITs. ETFs and other investment companies are not eligible for the SFYF Index.

Securities in the Eligible Universe are sorted based on:

1)The number of SoFi Accounts that hold a particular security; and

2)The total market value of the security held in the SoFi Accounts.

Each security in the Eligible Universe is then ranked from highest to lowest based on its “Weighted Average Value” (e.g., the security with the highest Weighted Average Value is assigned rank 1).

Subject to a “buffer rule” aimed at limiting SFYF Index turnover, securities ranked within the top 50 are included in the SFYF Index. Each security in the SFYF Index is then weighted based on its Weighted Average Value in relation to that of the other SFYF Index components and is subject to certain individual security weight and sector concentration caps. For example, the weight of each individual SFYF Index component is capped at 10%, and securities representing investments in any particular industry sector are capped at 50%. The SFYF Index is rebalanced and reconstituted monthly.

The SFYF Index’s construction does not target any specific sector or industry, however, due to market conditions and certain factors a sector may be relatively overweight/underweight for periods of time.

Fund Description:

SFYF, via the SFYF Index, is composed of the 50 most widely held U.S.-listed equity securities in the SoFi Accounts as weighted by their calculated Weighted Average Value (see above for detail) within the SoFi Accounts.

SHAREHOLDER LETTER (Continued)

3

SoFi Funds

Performance Overview:

During the fiscal period, SFYF generated a total return of 7.85% (NAV) and 7.26% (Market). This compares to the 7.76% total return of the SFYF Index for the same period, and the 16.39% total return of the benchmark, the S&P 500® Total Return Index.

From a sector perspective, based on performance attribution to the overall portfolio, Communication Services, Energy, and Consumer Staples were the leading contributors, while Health Care, Consumer Discretionary, and Industrials were the leading detractors.

Reviewing individual stocks based on performance attribution to the overall portfolio, leading contributors included AMC Entertainment Holdings, Inc., Apple, Inc., and NVIDIA Corp. Conversely, the leading detractors included NIO, Inc., Palantir Technologies, Inc. and Block Inc. (Square).

The SoFi Gig Economy ETF

The SoFi Gig Economy ETF (“GIGE”) is an actively-managed ETF that seeks to achieve its investment objective primarily by investing in a portfolio of companies listed around the world that GIGE’s investment adviser considers part of the “gig economy”.

Fund Description:

The “gig economy” refers to the group of companies that have embraced, that support, or that otherwise benefit from a workforce where individual employees or independent contractors are empowered to create their own freelance business by leveraging recent developments in technology platforms that enable individuals to offer their services directly to retail and commercial customers. Examples of gig economy businesses include selling or reselling products through auction platforms or web-based stores and offering delivery services through an app-based platform.

The investment management team behind the strategy seeks investments in underlying companies that

drive the overall gig economy universe,

transform the way our economy transacts goods and services,

modify how work gets done, and

embraces the work from home economy.

These companies are broken up into categories, seeking direct participants, direct & indirect supportive gig economy businesses, companies that help facilitate processes within the gig economy, and any other ancillary benefiting companies because of the gig economy. These companies are put into a multi-tiered process based on their growth prospects within the gig economy and managed to allow for necessary concentration to generate alpha but not overconcentration which may cause significant volatility. The team actively rebalances the portfolio frequently, as such a new industry classification, GIGE can experience large individual position volatility and new issuances can occur frequently.

Performance Overview:

During the fiscal period, GIGE generated a total return of -44.32% (NAV) and -44.54% (Market). This compares to the 11.06% return of the Nasdaq-100® Total Return Index, and the 16.39% return of the benchmark, the S&P 500® Total Return Index, over the same period.

From a sector perspective, based on performance attribution to the overall portfolio, Health Care, Real Estate, and Financials were the largest contributors, while Consumer Discretionary and Communication Services detracted the most.

Reviewing individual stocks based on performance attribution to the overall portfolio, leading contributors included LendingClub Corp., Tesla, Inc., and Microsoft Corp. Conversely, the leading detractors included Huya Inc., Pinduoduo, Inc., and Fiverr International Ltd.

The SoFi Weekly Income ETF

The SoFi Weekly Income ETF (“TGIF”) is an actively-managed ETF that seeks to achieve weekly income by investing in investment grade and high-yield fixed income securities. TGIF expects to distribute income on Fridays. TGIF is actively managed by Income Research + Management (“IR + M”), TGIF’s sub-adviser, a value-oriented fixed income manager with over 30 years of experience. The Fund targets a duration of less than 3 years, with the goal to reduce interest rate risk relative to longer dated bonds. TGIF does not seek to replicate the performance of a specified index.

SHAREHOLDER LETTER (Continued)

4

SoFi Funds

Fund Description:

TGIF seeks to achieve its investment objective, under normal circumstances, by investing in U.S.-dollar denominated investment grade and non-investment grade (also known as “high-yield” or “junk”) fixed income securities and instruments and expects to distribute income from its investments to shareholders weekly. TGIF anticipates making its weekly income distributions each Friday (or, in the event the New York Stock Exchange (the “NYSE”) is closed for trading on Friday, on a day earlier in the week). While obligations of any maturity may be purchased, under normal circumstances, TGIF will generally have a short to intermediate overall effective duration (i.e., typically less than three years). Effective duration is a measure of a fund’s price sensitivity to changes in yields or interest rates and a fund with a higher effective duration will, under normal circumstances, have a greater sensitivity to interest rates. However, duration may not accurately reflect the true interest rate sensitivity of instruments held by TGIF and, therefore, the TGIF’s exposure to changes in interest rates.

Investment decisions for TGIF are made by IR +M primarily through a fundamental analysis of available debt instruments and their issuers.

IR+M applies a bottom-up investing approach focusing on the analysis of individual companies rather than on the industry or sector in which a company operates or on the economy as a whole.

IR+M’s bottom-up process focuses on the following attributes of investment opportunities:

Credit: IR+M evaluates the strength of a company’s management, its financial statements, and its competitive position in its industry or peer group.

Structure: IR+M focuses on the shape of the curve reflecting the relationship of a bond’s price to interest rates (also known as “convexity”) with a particular interest in the extent to which an instrument may be callable (i.e., the issuer can redeem the bond prior to its maturity date) or have other such options attached to it that may affect the bond’s convexity. This analysis favors bonds with positive convexity (i.e., where the price would be expected to increase as interest rates rise) and those with structures that may add to the bond’s effective yield without increasing credit risk.

Price: IR+M seeks bonds that it believes are under- or mis-priced and will seek to avoid bonds it determines are overpriced.

Performance Overview:

During the period, TGIF generated a total return of 0.48% (NAV) and 0.79% (Market). This compares to the -1.49% return of the benchmark, the Bloomberg 1-3 Year Credit Index.

From a sector perspective, based on performance attribution to the overall portfolio, Energy, Industrials, and Information Technology were the largest contributors, while Health Care and Materials detracted the most.

Reviewing individual holdings based on performance attribution to the overall portfolio, leading contributors included OXY 0 10/10/36 (Occidental Petroleum Corp.), APA 4 ⅝ 11/15/25 (Apache Corp.), and CLI 3.15 05/15/23 (Mack-Cali Realty Corp.). Conversely, the leading detractors included FNS 417 C23 (Fannie Mae Strip), FNS 424 C14 (Fannie Mae Strip), and QVCN 4 ¾ 02/15/27 (QVC Inc.).

The SoFi Weekly Dividend ETF

The SoFi Weekly Dividend ETF (“WKLY”) is a passively-managed ETF that seeks to provide investors with consistent income by tracking the SoFi Sustainable Dividend Index (the “WKLY Index”), made up of the most consistent dividend-paying companies globally. Securities selected for the index have maintained their dividend payments over the last 12 months, been forecasted to continue to pay over the next 12 months and have met a number of additional screens designed to remove companies at risk of reducing their dividend payouts. Holdings are weighted by market capitalization and rebalanced quarterly.

Fund Description:

WKLY aims to pay dividends on a weekly basis, typically each Thursday. The fund holds a portfolio of large- and midcap dividend-paying companies from developed markets. Aside from liquidity and market-cap requirements, WKLY filters securities based on stable dividend payout, forecasted dividends, dividend history, payout ratio, debt/equity ratio, and price return. Eligible stocks are then selected for high dividend yield, relative to the weighted average yield of the parent index. The resulting portfolio is market-cap-weighted, with individual and sector weights capped at 5% and 30%, respectively. The index is rebalanced and reconstituted quarterly, starting in February.

Get Paid Weekly-WKLY seeks to distribute income on a weekly basis, providing the opportunity for a steady stream of income.

Global Dividend-Paying Equities-Access the global market of dividend-paying companies.

SHAREHOLDER LETTER (Continued)

5

SoFi Funds

A Focus on Dividend Sustainability-Securities selected for the index have maintained dividend payments over the last 12 months, been forecasted to continue to pay over the next 12 months and have met additional screens designed to remove companies at risk of reducing dividend payouts.

WKLY Does the Work-Instead of manually buying a basket of dividend-paying stocks, you can purchase one ETF to do the work for you.

Performance Overview:

During the period since inception (inception date: 5/10/21), WKLY generated a total return of 1.62% (NAV) and 1.45% (Market). This compares to the 5.64% return of the benchmark, the S&P 500® Total Return Index, and the 2.36% return of the WKLY Index over the same period.

From a sector perspective, based on performance attribution to the overall portfolio, Energy, Consumer Staples, and Financials were the largest contributors, while Materials and Information Technology detracted the most.

Reviewing individual stocks based on performance attribution to the overall portfolio, leading contributors included Pfizer, Inc., The Proctor & Gamble Co., and Toyota Motor Corp. Conversely, the leading detractors included 3M Co., JPMorgan Chase & Co., and Citigroup, Inc.

Past performance does not guarantee future results.

Must be preceded or accompanied by a prospectus.

Investors buy and sell ETF shares through a brokerage account or an investment advisor. Like ordinary stocks, brokerage commissions, and/or transaction costs or service fees may apply. Please consult your broker or financial advisor for their fee schedule.

There is no guarantee that a Fund’s investment strategy will be successful. Shares may trade at a premium or discount to their NAV in the secondary market, and a fund’s holdings and returns may deviate from those of its index, if applicable. These variations may be greater when markets are volatile or subject to unusual conditions. A high portfolio turnover rate increases transaction costs, which may increase a Fund’s expenses. The Funds are newer and each has a limited operating history. You can lose money on your investment in a Fund. Diversification does not ensure profit or protect against loss in declining markets. Investments in foreign securities may involve risks such as social and political instability, market illiquidity, exchange-rate fluctuations, a high level of volatility and limited regulation. Investing in emerging markets involves different and greater risks, as these countries are substantially smaller, less liquid and more volatile than securities markets in more developed markets. Because GIGE may invest in a single sector, country or industry, its shares do not represent a complete investment program. As non-diversified funds, the value of GIGE’s, TGIF’s, and WKLY’s shares may fluctuate more than shares invested in a broader range of industries and companies because of concentration in a specific sector, country or industry.

The S&P 500® Total Return Index is an index of 500 large-capitalization companies selected by Standard & Poor’s Financial Services LLC. The S&P MidCap 400® Total Return Index is an index of 400 mid-capitalization companies selected by Standard & Poor’s Financial Services LLC. The Nasdaq-100® Total Return Index is an index of 100 of the largest non-financial securities, based on market capitalization, listed on The Nasdaq Stock Market, LLC. The Bloomberg 1-3 Year Credit Index is an index of investment grade, U.S. dollar-denominated, fixed-rate, taxable corporate and government-related debt with 1 to 3 years to maturity. It is not possible to invest directly in an index Holdings are subject to change.

Fund holdings and sector allocations are subject to change and should not be considered a recommendation to buy or sell any security. For a complete list of portfolio holdings, please refer to the Schedule of Investments provided in this report.

SoFi ETFs are distributed by Foreside Fund Services, LLC.

Social Finance, Inc. (“SoFi”) is not an affiliated person of the Funds, Toroso Investments, LLC, IR+M, the distributor, or any of their affiliates. SoFi and/or its affiliates, including SoFi Securities, LLC, do not make investment decisions, provide investment advice, or otherwise act in the capacity of an investment adviser to the Funds. SoFi has provided support in developing the methodology used by the SoFi Select 500 ETF, SoFi Next 500 ETF, SoFi Social 50 ETF, and SoFi Weekly Dividend ETF’s underlying index to determine the securities included in such Index. However, SoFi is not involved in the maintenance of each such Index and does not act in the capacity of an index provider.

SHAREHOLDER LETTER (Continued)

6

SoFi Select 500 ETF PERFORMANCE SUMMARY (Unaudited)

Annualized Returns for the Periods Ended February 28, 2022:

1 Year

Since
Inception
(4/10/2019)

Ending Value
(2/28/2022)

SoFi Select 500 ETF - NAV

13.89%

18.34%

$16,261

SoFi Select 500 ETF - Market

13.33%

18.29%

16,242

Solactive SoFi US 500 Growth Index

13.93%

18.34%

16,263

S&P 500® Total Return Index

16.39%

17.43%

15,904

This chart illustrates the performance of a hypothetical $10,000 investment made on April 10, 2019 (commencement of operations), and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. The returns reflect fee waivers in effect for the “NAV” return. In the absence of such waivers, total return would be reduced. The chart assumes reinvestment of capital gains, dividends, and return of capital, if applicable, for a fund and dividends for an index.

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value
of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current
performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling (877) 358-0096. The Fund’s gross expense ratio is 0.19% and net expense ratio is 0.00% (as of the Fund’s most recently filed Prospectus). The Fund’s investment adviser (defined below) has agreed to waive its Management Fees (defined below) for the Fund until at least June
30, 2022.

7

SoFi Next 500 ETF PERFORMANCE SUMMARY (Unaudited)

Annualized Returns for the Periods Ended February 28, 2022:

1 Year

Since
Inception
(4/10/2019)

Ending Value
(2/28/2022)

SoFi Next 500 ETF - NAV

0.45%

11.46%

$13,679

SoFi Next 500 ETF - Market

0.69%

11.59%

13,726

Solactive SoFi US Next 500 Growth Index

0.39%

11.49%

13,689

S&P MidCap 400® Total Return Index

7.98%

13.16%

14,291

This chart illustrates the performance of a hypothetical $10,000 investment made on April 10, 2019 (commencement of operations), and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. The returns reflect fee waivers in effect for the “NAV” return. In the absence of such waivers, total return would be reduced. The chart assumes reinvestment of capital gains, dividends, and return of capital, if applicable, for a fund and dividends for an index.

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current
performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling (877) 358-0096. The Fund’s gross expense ratio is 0.21% and net expense ratio is 0.02% (as of the Fund’s most recently filed Prospectus). The Fund’s investment adviser (defined below) has agreed to waive its Management Fees (defined below) for the Fund until at least June
30, 2022.

8

SoFi Funds

SoFi Social 50 ETF PERFORMANCE SUMMARY (Unaudited)

Annualized Returns for the Periods Ended February 28, 2022:

1 Year

Since
Inception
(5/7/2019)

Ending Value
(2/28/2022)

SoFi Social 50 ETF - NAV

7.85%

18.29%

$16,042

SoFi Social 50 ETF - Market

7.26%

18.22%

16,015

SoFi Social 50 Index

7.76%

18.38%

16,077

S&P 500® Total Return Index

16.39%

17.96%

15,917

This chart illustrates the performance of a hypothetical $10,000 investment made on May 7, 2019 (commencement of operations), and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. The chart assumes reinvestment of capital gains, dividends, and return of capital, if applicable, for a fund and dividends for an index.

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling (877) 358-0096. The Fund’s gross expense ratio is 0.29% (as of the Fund’s most recently filed Prospectus).

9

SoFi Funds

SoFi Gig Economy ETF PERFORMANCE SUMMARY (Unaudited)

Annualized Returns for the Periods Ended February 28, 2022:

1 Year

Since
Inception
(5/7/2019)

Ending Value
(2/28/2022)

SoFi Gig Economy ETF - NAV

-44.32%

5.36%

$11,583

SoFi Gig Economy ETF - Market

-44.54%

5.28%

11,559

S&P 500® Total Return Index

16.39%

17.96%

15,917

This chart illustrates the performance of a hypothetical $10,000 investment made on May 7, 2019 (commencement of operations), and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. The chart assumes reinvestment of capital gains, dividends, and return of capital, if applicable, for a fund and dividends for an index.

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling (877) 358-0096. The Fund’s gross expense ratio is 0.59% (as of the Fund’s most recently filed Prospectus).

10

SoFi Funds

SoFi Weekly Income ETF PERFORMANCE SUMMARY (Unaudited)

Annualized Returns for the Periods Ended February 28, 2022:

1 Year

Since
Inception
(10/1/2020)

Ending Value
(2/28/2022)

SoFi Weekly Income ETF - NAV

0.48%

3.80%

$10,541

SoFi Weekly Income ETF - Market

0.79%

3.86%

10,549

Bloomberg 1-3 Year Credit Index

-1.49%

-0.61%

9,913

This chart illustrates the performance of a hypothetical $10,000 investment made on October 1, 2020 (commencement of operations), and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. The chart assumes reinvestment of capital gains, dividends, and return of capital, if applicable, for a fund and dividends for an index.

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling (877) 358-0096. The Fund’s gross expense ratio is 0.59% (as of the Fund’s most recently filed Prospectus).

11

SoFi Funds

SoFi Weekly Dividend ETF PERFORMANCE SUMMARY (Unaudited)

Total Return for the Period Ended February 28, 2022:

Since
Inception
(05/10/2021)

Ending Value
(2/28/2022)

SoFi Weekly Dividend ETF - NAV

1.62%

$10,162

SoFi Weekly Dividend ETF - Market

1.45%

10,145

SoFi Sustainable Dividend Total Return Index

2.36%

10,236

S&P 500® Total Return Index

5.64%

10,564

This chart illustrates the performance of a hypothetical $10,000 investment made on May 10, 2021 (commencement of operations), and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. The chart assumes reinvestment of capital gains, dividends, and return of capital, if applicable, for a fund and dividends for an index.

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling (877) 358-0096. The Fund’s gross expense ratio is 0.49% (as of the Fund’s most recently filed Prospectus).

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SoFi Funds

SOFI SELECT 500 ETF PORTFOLIO ALLOCATIONS at February 28, 2022 (Unaudited)

Sector

% of
Net Assets

Technology

27.7

%

Consumer, Non-cyclical

20.6

Communications

16.8

Consumer, Cyclical

11.7

Financial

11.5

Industrial

6.1

Energy

2.0

Utilities

2.0

Basic Materials

1.3

Cash & Cash Equivalents(1) 

0.3

 

100.0

%

(1)Represents cash, short-term investments and other liabilities in excess of assets.

SOFI NEXT 500 ETF PORTFOLIO ALLOCATIONS at February 28, 2022 (Unaudited)

Sector

% of
Net Assets

Financial

22.1

%

Consumer, Non-cyclical

20.1

Technology

16.6

Industrial

15.2

Consumer, Cyclical

11.8

Basic Materials

3.9

Energy

3.7

Communications

3.3

Utilities

3.0

Cash & Cash Equivalents(1) 

0.3

 

100.0

%

(1)Represents cash, short-term investments and other liabilities in excess of assets.

SOFI SOCIAL 50 ETF PORTFOLIO ALLOCATIONS at February 28, 2022 (Unaudited)

Sector

% of
Net Assets

Consumer, Cyclical

37.5

%

Communications

23.3

Technology

21.9

Consumer, Non-cyclical

9.3

Financial

4.2

Industrial

2.3

Energy

1.3

Cash & Cash Equivalents(1) 

0.2

 

100.0

%

(1)Represents cash, short-term investments and assets in excess of other liabilities.

13

SoFi Funds

SOFI GIG ECONOMY ETF PORTFOLIO ALLOCATIONS at February 28, 2022 (Unaudited)

Sector

% of
Net Assets

Communications

50.7

%

Technology

27.5

Consumer, Non-cyclical

10.3

Financial

5.4

Industrial

3.3

Consumer, Cyclical

2.2

Cash & Cash Equivalents(1) 

0.6

 

100.0

%

(1)Represents cash, short-term investments and other liabilities in excess of assets.

SOFI WEEKLY INCOME ETF PORTFOLIO ALLOCATIONS at February 28, 2022 (Unaudited)

Sector/Investment Type

% of
Net Assets

Financial

30.2

%

Energy

15.8

Communications

11.4

Consumer, Cyclical

11.2

Consumer, Non-cyclical

8.2

Industrial

7.8

Asset Backed Securities

4.1

Technology

3.6

Utilities

2.3

Cash & Cash Equivalents(1) 

1.7

Government

1.3

Basic Materials

1.2

Mortgage Securities

1.2

 

100.0

%

(1)Represents cash, short-term investments and other liabilities in excess of assets.

SOFI WEEKLY DIVIDEND ETF PORTFOLIO ALLOCATIONS at February 28, 2022 (Unaudited)

Sector

% of
Net Assets

Financial

28.3

%

Consumer, Non-cyclical

23.7

Industrial

9.2

Basic Materials

7.9

Consumer, Cyclical

7.9

Energy

6.8

Technology

6.1

Utilities

6.0

Communications

3.6

Cash & Cash Equivalents(1) 

0.5

 

100.0

%

(1)Represents cash, short-term investments and assets in excess of other liabilities.

SoFi Select 500 ETF

14

The accompanying notes are an integral part of these financial statements.

SCHEDULE OF INVESTMENTS at February 28, 2022

 

  

Shares

 

Value

 

Common Stocks — 99.7%

Advertising — 0.2%

Omnicom Group, Inc.

1,390

$116,607

The Trade Desk, Inc. - Class A (1)(2) 

5,613

478,901

595,508

Aerospace & Defense — 1.2%

General Dynamics Corp.

1,993

467,259

L3Harris Technologies, Inc.

3,940

994,101

Lockheed Martin Corp. (1) 

2,421

1,050,230

Northrop Grumman Corp.

1,357

599,984

Raytheon Technologies Corp.

8,459

868,739

Teledyne Technologies, Inc. (2) 

269

115,503

The Boeing Co. (2) 

1,726

354,417

TransDigm Group, Inc. (2) 

344

229,307

4,679,540

Agriculture — 0.8%

Altria Group, Inc.

30,211

1,549,522

Archer-Daniels-Midland Co.

4,089

320,782

Philip Morris International, Inc.

11,864

1,199,095

3,069,399

Airlines — 0.1%

Delta Air Lines, Inc. (2) 

2,263

90,339

Southwest Airlines Co. (2) 

2,328

101,967

United Airlines Holdings, Inc. (2) 

1,091

48,440

240,746

Apparel — 0.4%

Nike, Inc. - Class B

9,140

1,248,067

VF Corp. (1) 

3,393

196,862

1,444,929

Auto Manufacturers — 5.3%

Cummins, Inc.

936

191,056

Ford Motor Co.

13,626

239,273

General Motors Co. (2) 

9,752

455,613

PACCAR, Inc.

2,085

191,424

Stellantis NV (1) 

60,399

1,104,094

Tesla, Inc. (2) 

20,842

18,141,502

20,322,962

Banks — 3.5%

Bank of America Corp.

50,735

2,242,487

Citigroup, Inc.

13,051

773,011

Citizens Financial Group, Inc. (1) 

2,720

142,582

Fifth Third Bancorp (1) 

4,235

202,602

First Republic Bank

1,413

244,816

Huntington Bancshares, Inc.

7,315

113,529

JPMorgan Chase & Co.

18,811

2,667,400

KeyCorp

6,366

159,596

Morgan Stanley

13,033

1,182,614

Northern Trust Corp.

1,289

146,817

Regions Financial Corp. (1) 

6,455

156,146

 

  

Shares

 

Value

 

Common Stocks — 99.7% (Continued)

Banks — 3.5% (Continued)

State Street Corp.

2,228

$190,115

SVB Financial Group (2) 

426

258,156

The Bank of New York Mellon Corp. (1) 

4,938

262,455

The Goldman Sachs Group, Inc. (1) 

2,478

845,717

The PNC Financial Services Group, Inc.

2,503

498,723

Truist Financial Corp.

19,735

1,227,912

U.S. Bancorp

9,561

540,579

Wells Fargo & Co.

25,909

1,382,763

13,238,020

Beverages — 1.3%

Brown-Forman Corp. - Class B

2,365

154,269

Constellation Brands, Inc. - Class A

1,714

369,572

Keurig Dr Pepper, Inc.

12,249

473,669

Monster Beverage Corp. (2) 

4,765

402,166

PepsiCo, Inc.

11,474

1,878,753

The Coca-Cola Co.

29,658

1,845,914

5,124,343

Biotechnology — 2.4%

Alnylam Pharmaceuticals, Inc. (2) 

2,350

370,948

Amgen, Inc.

5,114

1,158,219

Biogen, Inc. (2) 

1,004

211,854

BioMarin Pharmaceutical, Inc. (2) 

2,816

219,986

Bio-Rad Laboratories, Inc. - Class A (2) 

249

155,864

Corteva, Inc.

10,691

556,253

Gilead Sciences, Inc.

30,439

1,838,516

Illumina, Inc. (2) 

1,029

336,071

Incyte Corp. (2) 

2,276

155,451

Moderna, Inc. (2) 

12,274

1,885,286

Regeneron Pharmaceuticals, Inc. (2) 

1,056

652,988

Seagen, Inc. (2) 

5,159

664,840

Vertex Pharmaceuticals, Inc. (2) 

3,953

909,269

9,115,545

Building Materials — 0.3%

Carrier Global Corp.

5,976

268,203

Johnson Controls International PLC

5,179

336,428

Martin Marietta Materials, Inc.

442

167,695

Masco Corp. (1) 

2,128

119,253

Vulcan Materials Co.

915

166,026

1,057,605

Chemicals — 0.8%

Air Products and Chemicals, Inc.

1,674

395,566

Albemarle Corp.

686

134,381

Celanese Corp.

855

119,084

Dow, Inc.

7,527

443,792

DuPont de Nemours, Inc.

2,636

203,947

Eastman Chemical Co.

918

108,755

Ecolab, Inc.

1,708

301,052


SoFi Select 500 ETF

The accompanying notes are an integral part of these financial statements.

15

SCHEDULE OF INVESTMENTS at February 28, 2022 (Continued)

 

  

Shares

 

Value

 

Common Stocks — 99.7% (Continued)

Chemicals — 0.8% (Continued)

FMC Corp.

992

$116,312

International Flavors & Fragrances, Inc.

2,124

282,492

LyondellBasell Industries NV

2,156

209,628

PPG Industries, Inc. (1) 

1,648

219,926

The Sherwin-Williams Co.

2,122

558,362

3,093,297

Commercial Services — 2.0%

Automatic Data Processing, Inc.

3,284

671,381

Booz Allen Hamilton Holding Corp.

1,196

96,505

Cintas Corp.

772

289,747

CoStar Group, Inc. (2) 

3,989

243,369

Equifax, Inc.

1,294

282,532

FleetCor Technologies, Inc. (2) 

551

129,044

Gartner, Inc. (2) 

554

155,353

Global Payments, Inc.

5,130

684,240

MarketAxess Holdings, Inc.

517

197,199

Moody’s Corp.

1,662

535,214

PayPal Holdings, Inc. (2) 

13,957

1,562,207

Rollins, Inc.

4,080

133,130

S&P Global, Inc. (1) 

3,045

1,144,189

Block, Inc. - Class A (2) 

8,065

1,028,288

TransUnion

1,440

130,694

United Rentals, Inc. (2) 

459

147,624

Verisk Analytics, Inc.

1,597

283,212

7,713,928

Computers — 8.2%

Accenture PLC - Class A

5,222

1,650,256

Apple, Inc.

152,311

25,149,592

Cognizant Technology Solutions Corp.

3,878

334,012

Crowdstrike Holdings, Inc. - Class A (2) 

3,881

757,610

Dell Technologies, Inc. - Class C (2) 

2,244

114,354

EPAM Systems, Inc. (2) 

531

110,315

Fortinet, Inc. (2) 

1,651

568,803

Hewlett Packard Enterprise Co. (1) 

13,915

221,527

HP, Inc.

9,486

325,939

International Business Machines Corp. (1) 

6,630

812,241

Kyndryl Holdings, Inc. (2) 

1,262

20,015

Leidos Holdings, Inc.

1,197

121,903

NetApp, Inc.

1,649

129,249

Seagate Technology Holdings PLC

1,651

170,317

Western Digital Corp. (2) 

5,987

304,978

Zscaler, Inc. (2) 

1,544

369,248

31,160,359

Cosmetics & Personal Care — 1.4%

Colgate-Palmolive Co.

6,963

535,803

The Estee Lauder Companies, Inc. - Class A

1,728

512,058

The Procter & Gamble Co.

28,135

4,385,965

5,433,826

 

  

Shares

 

Value

 

Common Stocks — 99.7% (Continued)

Distribution & Wholesale — 0.2%

Copart, Inc. (2) 

1,824

$224,133

Fastenal Co.

4,546

233,937

LKQ Corp. (1) 

2,020

94,839

W.W. Grainger, Inc.

370

176,512

729,421

Diversified Financial Services — 3.0%

American Express Co.

4,676

909,669

Ameriprise Financial, Inc.

718

215,249

BlackRock, Inc.

1,330

989,374

Capital One Financial Corp.

2,856

437,739

Cboe Global Markets, Inc.

1,213

142,273

CME Group, Inc. - Class A

2,837

671,036

Discover Financial Services

1,890

233,301

Franklin Resources, Inc.

3,467

103,074

Intercontinental Exchange, Inc.

6,057

776,023

Mastercard, Inc. - Class A

6,929

2,500,122

Nasdaq, Inc.

1,805

308,926

Raymond James Financial, Inc.

1,535

168,313

Synchrony Financial (1) 

3,258

139,377

T. Rowe Price Group, Inc.

1,995

288,397

The Charles Schwab Corp.

13,419

1,133,369

The Western Union Co. (1) 

2,934

53,340

Visa, Inc. - Class A (1) 

11,604

2,507,856

11,577,438

Electric — 2.0%

Alliant Energy Corp. (1) 

1,839

107,398

Ameren Corp. (1) 

1,949

167,517

American Electric Power Co., Inc.

3,859

349,818

Avangrid, Inc.

2,457

110,246

CenterPoint Energy, Inc. (1) 

2,835

77,537

CMS Energy Corp.

2,236

143,126

Consolidated Edison, Inc.

2,619

224,632

Constellation Energy Corp. (1) 

2,546

117,065

Dominion Energy, Inc.

6,378

507,242

DTE Energy Co.

1,493

181,534

Duke Energy Corp.

6,091

611,597

Edison International

3,613

229,137

Entergy Corp.

1,438

151,292

Evergy, Inc.

1,674

104,474

Eversource Energy

3,129

255,952

Exelon Corp.

7,639

325,116

FirstEnergy Corp.

4,208

176,105

NextEra Energy, Inc.

15,720

1,230,404

PG&E Corp. (2) 

23,661

269,026

PPL Corp.

5,907

154,586

Public Service Enterprise Group, Inc.

3,951

256,143

Sempra Energy

2,606

375,837

The AES Corp.

16,011

339,914


SoFi Select 500 ETF

16

The accompanying notes are an integral part of these financial statements.

SCHEDULE OF INVESTMENTS at February 28, 2022 (Continued)

 

  

Shares

 

Value

 

Common Stocks — 99.7% (Continued)

Electric — 2.0% (Continued)

The Southern Co.

7,504

$486,034

WEC Energy Group, Inc.

2,351

213,659

Xcel Energy, Inc.

4,195

282,449

7,447,840

Electrical Components & Equipment — 0.2%

AMETEK, Inc.

1,496

194,166

Emerson Electric Co.

4,250

394,910

589,076

Electronics — 0.9%

Agilent Technologies, Inc.

2,584

336,850

Amphenol Corp.

4,879

370,853

Fortive Corp.

2,051

132,802

Garmin Ltd.

1,655

182,778

Honeywell International, Inc.

4,692

890,307

Keysight Technologies, Inc. (2) 

1,478

232,593

Mettler-Toledo International, Inc. (2) 

183

257,800

TE Connectivity Ltd.

7,187

1,023,645

3,427,628

Engineering & Construction — 0.0% (3) 

Jacobs Engineering Group, Inc.

1,092

134,316

Entertainment — 0.0% (3)