Fund Description: SoFi 50 ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Tidal ETF Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The SoFi 50 ETF seeks to provide investment returns that closely correspond to the price and yield performance of the Solactive SoFi US 50 Growth Index. INDEX DESCRIPTION: The Solactive SoFi US 50 Growth Index follows a rules-based methodology that tracks the performance of an equal-weighted portfolio of 50 of the 1,000 largest U.S.-listed companies based on a proprietary composite score calculated based on certain fundamental factors. Construction of the Index begins with the 1,000 largest constituents of the Solactive US Broad Market Index, a market capitalization-weighted index that includes equity securities of approximately 3,000 of the largest U.S. companies. The Index may include common stocks and equity interests in real estate investment trusts (REITs). A proprietary composite score is then calculated for each company. The 50 highest scoring companies are included in the Index and equally weighted. The Index is rebalanced and reconstituted semi-annually. FUND STRATEGY: The Fund uses a passive management (or indexing) approach to track the performance of the Index. The Fund attempts to invest all, or substantially all, of its assets in the component securities that make up the Index. Under normal circumstances, at least 80% of the Fund’s total assets (exclusive of any collateral held from securities lending) will be invested in the component securities of the Index. The Fund will generally use a replication strategy to achieve its investment objective, meaning it generally will invest in all of the component securities of the Index. However, the Fund may use a representative sampling strategy, meaning it may invest in a sample of the securities in the Index whose risk, return and other characteristics closely resemble the risk, return and other characteristics of the Index as a whole. The Fund generally may invest up to 20% of its total assets (exclusive of any collateral held from securities lending) in securities or other investments not included in the Index. FUND MANAGEMENT: Toroso Investments, LLC serves as investment adviser to the Fund. CSat Investment Advisory, L.P., doing business as Exponential ETFs serves as sub-adviser to the Fund.