SPXT

ProShares S&P 500 Ex-Technology ETF

The ProShares S&P 500 Ex-Energy ETF tracks a market cap-weighted index of US large- and midcap stocks (the S&P 500), excluding firms in the tech sector.


US

EQUITY

Passive

MANAGEMENT STYLE

9 bp

EXPENSES

$57.9 M

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorProShares
CategoryUS
Asset classEquity
Websitelink...
Inception dateSep 22, 2015
Assets (mns)$58
Expense ratio9 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-End Investment Company
DistributionsQuarterly
Taxation1099
Stock selectionCommittee
WeightingMarket Cap
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
AMAZON.COM INC 5.5 %
META PLATFORMS INC 3.6 %
ALPHABET INC. CLASS A 3.4 %
ALPHABET INC. CLASS C 2.9 %
BERKSHIRE HATHAWAY INC-CL B 2.4 %
ELI LILLY & CO 2.3 %
JPMORGAN CHASE & CO 1.8 %
TESLA MOTORS INC 1.6 %
EXXON MOBIL CORP 1.6 %
UNITEDHEALTH GROUP INC 1.5 %
Constituent Breakdown
Number of holdings439
Herfindahl-Hirschman Index 116
Wgt avg mkt cap (mns)$501,095
Large cap (>$10bn)99.0%
Mid cap ($2-10bn)0.8%
Small cap (<$2bn)0.0%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 96.4 %
IRELAND 1.5 %
BRITAIN 0.9 %
Historical Performance


Standardized Performance (as of 06/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 9.9% 18.1% 15.5% 6.3% 10.8% -- 11.2%
Volatility 9.3% 10.1% 15.0% 15.2% 19.1% -- --
Market Correlations
versus...BetaR-squared
S&P 5000.8995%
MSCI EAFE0.8480%
MSCI Emg Mkts0.5940%
Liquidity Measures
Avg. volume (000)3
Turnover0.5%
Avg. Bid/Ask (% of price)0.09%
ADV of underlying (mns)$329,193
Technical Indicators
Recent close$86.45
30d moving avg.$85.49
Annualized volatility16.4%
Relative strength (RSI)55
Short interest (ETF)2.2%
Short interest (underlying)1.5%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: SPXT vs. Comps (1 YR)

Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Dividends per share -- -- -- -- -- -- --
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Book value per share -- -- -- -- -- -- --
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Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates

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Valuation Metrics
  2023 2024E Fwd Est 2025E
Price-to-sales --x --x --x --x
Price-to-earnings --x --x --x --x
Price-to-cash flow --x --x --x --x
Price-to-growth --x --x --x --x
Price-to-book value --x --x --x --x
Yield --% --% --x --%
2.3 18.2 3.1 1.7% --
Based on closing prices from 7/22/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
SPXT



Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.

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ETF Research Center Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

SPXT

5.5%

Cat. Avg

5.6%

Fund Category: US

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™5.5%
Recommendation

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

Category Overview
There are 899 funds in the US category, with an average ALTAR Score™ of 5.6% and a standard deviation of 2.4%. SPXT's ALTAR Score™ is approximately 0.1 standard deviations below the category average. This places SPXT in the 47th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
SPXT
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown
Expense Analysis

Peer Group Passive
US Equity ETFs
# of ETFs 192
Avg. Expense Ratio 31.0 bp
Std. Deviation 25.7 bp
SPXT (9 bp) Percentile rank 19
Peer Group Expense Ratio Distribution


Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
SPXT 9.0 9.3 18.3
Peer Avg. 24.7 9.9 34.6
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .