Tech ETFs Sink on Microsoft, Google Earnings

Mark Neuman, CIO and founder at Constrained Capital, speaks with reporter Shubham Saharan about earnings in the technology sector and how they’re affecting ETFs. Neuman discusses how the continuing strength of the dollar is impacting international, big-tech conglomerates and how there are translation losses for companies like Microsoft and Alphabet, who attribute nearly half of their revenue to overseas operations. “The most glaring issue with tech and earnings is the strength of the dollar,” states Neuman.

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The Constrained Capital ESG Orphans Index is a representation of companies that have business operations in one of the following industries: alcohol, fossil fuel energy, gaming, nuclear power, tobacco and weapons/firearms. The Index is calculated, administered, and published by Solactive AG, the Index’s administrator.

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Toroso Investments, LLC (Toroso) serves as investment adviser to the Fund.

Tidal ETF Services, LLC, a subsidiary of Toroso, serves as the Fund’s launch and structure partner.

The fund is distributed by Foreside Fund Services, LLC

Tech ETFs Sink on Microsoft, Google Earnings

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Investors should consider the investment objectives, risks, charges and expenses carefully before investing. To view this and other information about the Fund, click to read the prospectus or the summary prospectus. Read the prospectus or summary prospectus carefully before investing.

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