Investing platform Public has enabled its members to build their own direct index from a wide range of foundational indices.

Direct indexing is a strategy where, instead of investing in a derivative of the index, such as an ETF, investors own each stock in the index directly, enabling automated tax strategies and personalization of the index. Members can access over 100 different indices from Solactive and S&P® to directly own and customize their holdings to their liking, as well as optimize for tax savings through tax-loss harvesting.

Traditionally, direct indexing has been available only to high-net-worth investors, with average minimum investment requirements that can be in the five or six figures. Recently, with minimums coming down, direct indexing has gained traction among retail investors as a strategy to take control of their portfolios, and Public is making it even more accessible with a minimum investment of $1,000 and an annual management fee of only 0.19% per index invested.

Members can now have even more control over their investment strategies while also benefiting from potential tax savings through automated tax loss harvesting.

“Sophisticated investors want control over their portfolios. Our new direct indexing product not only gives people the widest range of indices but also total control over what companies they want to be invested in, and which not,” said Leif Abraham, Co-CEO and Co-Founder of Public. “Essentially giving people the opportunity to turn indices like the S&P 500 into their own personalized S&P index.”

Public members can pick or create direct indices from a broader range of indices across the S&P® family, including the S&P 500® and specific sectors such as IT or healthcare. Direct indexing will enable retail investors to own the actual share of the stock and provide investors with more control over investment weighting and customization compared to investing in the entirety of an ETF.

Direct indexing on Public is now live for all members on iOS, Android, and Web.