Kansas-based Tortoise Advisors is listing two new thematic ETFs in the US that track in-house indexes.
  • Tortoise Cloud Infrastructure Fund (TCLD)
  • Tortoise Digital Payments Infrastructure Fund (TPAY)
TCLD will invest in companies Tortoise believes are boosting cloud infrastructure in rich countries. Cloud companies are understood to be those that make at least 50% of their revenues from any of the following: Cloud Systems; Cloud Consulting Software or Services; Cloud Security Cloud Hardware; Cloud Data Centers (including REITs).

TPAY will invest in companies that help the nascent fintech industry grow wings. The company defines digital payments companies as those making 50% of their revenue from: Global Digital Payments (including credit card issuers and networks, as well as merchant acquirers); and Innovative Transaction Solutions and Services (Companies that provide software and services that help make digital payments.)

Both funds will invest in at least 30 companies. Companies included will be market weighted with the weights of the biggest companies capped at 4.5%. Both charge 0.40% a year.