TDV
ProShares S&P Technology Dividend Aristocrats ETF
TDV tracks an equal-weighted index of Technology stocks that have increased dividend payments annually for at least 7 years.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
45 bp
EXPENSES
$269.9 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | ProShares |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Nov 05, 2019 |
| Assets (mns) | $270 |
| Expense ratio | 45 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Dividends |
| Weighting | Equal |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| BROADCOM INC. | 3.7 % |
| QUALCOMM INC | 3.5 % |
| KLA CORPORATION | 3.4 % |
| APPLE INC | 3.3 % |
| HP INC. | 3.3 % |
| ANALOG DEVICES INC | 3.3 % |
| AMPHENOL CORP-CL A | 3.2 % |
| TEXAS INSTRUMENTS INC | 3.1 % |
| ORACLE CORP | 3.1 % |
| CORNING INC | 3.1 % |
Constituent Breakdown
| Number of holdings | 36 |
| Herfindahl-Hirschman Index | 289 |
| Wgt avg mkt cap (mns) | $335,495 |
| Large cap (>$10bn) | 78.3% |
| Mid cap ($2-10bn) | 17.1% |
| Small cap (<$2bn) | 4.7% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 94.7 % |
 |
SWITZERLAND | 2.7 % |
 |
IRELAND | 2.3 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 7.8% | 14.4% | 19.9% | 9.6% | -- | -- | 15.9% | Volatility | 15.4% | 14.9% | 19.7% | 19.9% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.07 | 91% |
| MSCI EAFE | 0.98 | 70% |
| MSCI Emg Mkts | 0.73 | 40% |
Liquidity Measures
| Avg. volume (000) | 13 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.13% |
| ADV of underlying (mns) | $70,236 |
Technical Indicators
| Recent close | $74.35 |
| 30d moving avg. | $75.87 |
| Annualized volatility | 20.2% |
| Relative strength (RSI) | 60 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 3.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. TDV |
Expenses vs. TDV |
ALTAR Score™ vs. TDV |
|---|---|---|---|---|
| TDIV | First Trust NASDAQ Technology Dividend Index Fund | 42.5% | +5 bp | -0.1% |
| XPND | First Trust Expanded Technology ETF | 34.4% | +20 bp | -1.3% |
| RSPT | Invesco S&P 500 Equal Weight Technology ETF | 33.2% | -5 bp | +0.1% |
| XLK | Technology Select Sector SPDR Fund | 31.9% | -36 bp | -0.4% |
| XNTK | SPDR NYSE Technology ETF | 31.6% | -10 bp | -1.4% |
| QTEC | First Trust NASDAQ-100 Technology Sector Index Fund | 28.2% | +12 bp | -1.3% |
| IGM | iShares Expanded Tech Sector ETF | 28.1% | -4 bp | -0.9% |
| VEGN | US Vegan Climate ETF | 27.7% | +15 bp | -0.6% |
| LEAD | Siren DIVCON Leaders Dividend ETF | 27.2% | -2 bp | -0.3% |
| SPHQ | Invesco S&P 500 Quality ETF | 26.5% | -30 bp | +0.2% |
Risk and Returns: TDV 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 | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
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 | --% |
Based on closing prices from 7/25/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
TDV
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™
TDV
5.5%
Cat. Avg
5.7%
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 5.7% and a standard deviation of
2.4%. TDV's ALTAR Score™ is approximately
0.1 standard deviations
below
the category average. This places TDV in the 46th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
TDV
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| TDV (45 bp) Percentile rank | 48 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| TDV | 45.0 | 13.1 | 58.1 |
| Peer Avg. | 44.3 | 17.3 | 61.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .