ProShares MSCI Transformational Changes ETF
ALTAR
Score™
2.4% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
44.2x P/Sales
ratio
6.2x
P/BV
ratio
6.5x Div.
yield
0.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
ANEW tracks a market-cap-weighted index of global stocks that benefit from transformational changes in peoples work, health care, consumption, and connection.

FUND BASICS
Category Global Equities
Fund Sponsor ProShares
Website www.proshares.com
Inception date Oct 14, 2020
Assets (mns) $31
Currency USD
Expense ratio 45 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 152
Wgt avg mkt cap (mns) $266,040
Large cap (>$10bn) 84.3%
Mid cap ($2-10bn) 13.7%
Small cap (<$2bn) 0.7%
Developed mkts 92.4%
Emerging mkts 7.6%

TOP TEN HOLDINGS
ALNYLAM PHARMACEUTICALS INC 2.3 %
NETFLIX INC 2.2 %
ACTIVISION BLIZZARD INC 2.1 %
CORTEVA INC 2.1 %
MEITUAN DIANPING 2.1 %
DEERE & CO 2.1 %
TENCENT HOLDINGS LTD 2.0 %
APPLE INC 1.9 %
JOHNSON & JOHNSON 1.9 %
NINTENDO CO LTD 1.9 %
Total 20.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 70.9 %
CHINA 10.8 %
SWITZERLAND 4.2 %
IRELAND 4.0 %
GERMANY 2.0 %
JAPAN 1.9 %
TAIWAN 1.4 %
SWEDEN 0.9 %
DENMARK 0.7 %
SOUTH KOREA 0.6 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
14.3% -- -- -- 14.3%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $44.35
30d moving avg. $42.30
Annualized volatility 0.0%
Short interest (ETF) 4.0%
Relative strength (RSI) 71

Liquidity measures
Avg. volume (thou.) 13
Turnover 1.9%
Bid/Ask (% of price) 0.19%
ADV underlying (mns) $120,027

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the ProShares MSCI Transformational Changes ETF ETF based on the alternatives' overlap in portfolio holdings with ANEW. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ANEW Expense: 45 bp ALTAR Score™: 2.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ANEW
Ticker Fund
Name
Overlap1
vs ANEW
(%)
Expense
ratio
(bp)
Savings
vs ANEW
(bp)
ALTAR
Score™
(%)
ALTAR
vs ANEW
(%)
ESGV Vanguard ESG U.S. Stock ETF 30.1 12 33 4.5 +2.0
GINN Goldman Sachs ETF Trust Goldman Sachs Innovate Equity ETF 28.8 50 -5 3.3 +0.9
IGM iShares Expanded Tech Sector ETF 27.7 46 -1 3.3 +0.8
TECB iShares US Tech Breakthrough Multisector ETF 27.2 40 5 3.4 +1.0
IWL iShares Russell Top 200 ETF 26.9 15 30 4.4 +2.0
BKLC BNY Mellon US Large Cap Core Equity ETF 26.9 0 45 4.5 +2.0
IWF iShares Russell 1000 Growth ETF 26.9 19 26 3.4 +1.0
VONG Vanguard Russell 1000 Growth Index Fund 26.6 8 37 3.5 +1.1
MGC Vanguard Mega Cap Index Fund 26.5 7 38 4.6 +2.2
VOOG Vanguard S&P 500 Growth ETF 26.4 10 35 3.9 +1.5
SPXN ProShares S&P 500 Ex-Financials ETF 26.1 27 18 4.3 +1.9
XLG Invesco S&P 500 Top 50 ETF 26.1 20 25 4.1 +1.7
IETC iShares Evolved U.S. Technology ETF 26.0 18 27 3.4 +1.0
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 26.0 20 25 4.6 +2.1
VUG Vanguard Growth Index Fund 26.0 4 41 3.5 +1.1
MMTM SPDR S&P 1500 Momentum Tilt ETF 25.9 12 33 4.0 +1.6
SPYG SPDR Portfolio S&P 500 Growth ETF 25.8 4 41 3.7 +1.3
IVW iShares S&P 500 Growth ETF 25.8 18 27 3.5 +1.1
IUSG iShares Core S&P US Growth ETF 25.7 4 41 3.7 +1.2
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 25.5 75 -30 2.0 -0.4
ADME Aptus Drawdown Managed Equity ETF 25.5 79 -34 3.1 +0.7
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 25.4 7 38 4.5 +2.1
BBUS JP Morgan Betabuilders U.S. Equity ETF 25.3 2 43 4.6 +2.2
XOUT GraniteShares XOUT U.S. Large Cap ETF 25.2 60 -15 3.6 +1.2
PBUS Invesco PureBeta MSCI USA ETF 25.2 4 41 4.6 +2.2
OEF iShares S&P 100 ETF 25.1 20 25 4.2 +1.8
VV Vanguard Large-Cap Index Fund 25.0 4 41 4.6 +2.2
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 25.0 20 25 4.8 +2.3
SCHX Schwab U.S. Large-Cap ETF 25.0 3 42 4.5 +2.1
IWY iShares Russell Top 200 Growth ETF 25.0 20 25 3.6 +1.2
MGK Vanguard Mega Cap Growth ETF 24.9 7 38 3.6 +1.2
PBP Invesco S&P 500 BuyWrite ETF 24.8 49 -4 4.3 +1.9
ESGU iShares MSCI USA ESG Optimized ETF 24.8 15 30 4.4 +2.0
SPXE ProShares S&P 500 Ex-Energy ETF 24.7 27 18 4.6 +2.2
XYLG Global X S&P 500 Covered Call & Growth ETF 24.7 60 -15 4.4 +2.0
IYY iShares Dow Jones U.S. ETF 24.6 20 25 4.4 +2.0
SCHK Schwab 1000 Index ETF 24.6 5 40 4.6 +2.2
IWB iShares Russell 1000 ETF 24.6 15 30 4.4 +2.0
XVV iShares ESG Screened S&P 500 ETF 24.5 8 37 4.9 +2.4
SPY SPDR S&P 500 ETF Trust 24.4 9 36 4.7 +2.3
VOO VANGUARD S&P 500 ETF 24.4 3 42 4.8 +2.4
SCHG Schwab U.S. Large-Cap Growth ETF 24.4 4 41 3.2 +0.7
SPLG SPDR Portfolio Large Cap ETF 24.4 3 42 4.7 +2.3
IVV iShares Core S&P 500 ETF 24.4 3 42 4.7 +2.3
VTHR Vanguard Russell 3000 Index Fund 24.2 10 35 4.4 +2.0
AIQ Global X Future Analytics Tech ETF 24.2 68 -23 3.4 +1.0
SFY SoFi Select 500 ETF 24.2 0 45 4.5 +2.1
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 23.9 9 36 4.8 +2.4
CATH Global X S&P 500 Catholic Values Custom ETF 23.9 29 16 4.5 +2.1
SCHB Schwab U.S. Broad Market ETF 23.9 3 42 4.4 +2.0
IWV iShares Russell 3000 ETF 23.7 20 25 4.3 +1.9
ITOT iShares Core S&P Total U.S. Stock Market ETF 23.7 3 42 4.4 +2.0
JKE iShares Morningstar Large-Cap Growth ETF 23.6 25 20 2.2 -0.2
JMOM JPMorgan U.S. Momentum Factor ETF 23.5 12 33 3.0 +0.5
SPTM SPDR Portfolio Total Stock Market ETF 23.4 3 42 4.8 +2.4
IQSU IQ Candriam ESG US Equity ETF 23.4 9 36 4.5 +2.1
TMFC Motley Fool 100 Index ETF 23.3 50 -5 3.0 +0.6
VTI Vanguard Total Stock Market Index Fund 23.2 3 42 4.4 +2.0
VONE Vanguard Russell 1000 ETF 23.2 8 37 4.5 +2.1
JCTR JPMorgan Carbon Transition U.S. Equity ETF 23.2 15 30 4.6 +2.2
MTUM iShares MSCI USA Momentum Factor ETF 23.0 15 30 2.2 -0.2
QYLD Global X NASDAQ 100 Covered Call ETF 22.8 60 -15 3.2 +0.7
EFIV SPDR S&P 500 ESG ETF 22.7 10 35 4.6 +2.1
SNPE Xtrackers S&P 500 ESG ETF 22.7 10 35 4.6 +2.2
NUSI Nationwide Risk-Managed Income ETF 22.7 68 -23 3.1 +0.7
DYNF BlackRock U.S. Equity Factor Rotation ETF 22.7 30 15 5.2 +2.8
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 22.7 60 -15 3.1 +0.7
QQQ Invesco QQQ Trust 22.5 20 25 3.5 +1.1
QQQM Invesco NASDAQ 100 ETF 22.5 15 30 3.5 +1.1
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 22.4 21 24 2.9 +0.5
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 22.4 49 -4 3.4 +1.0
SPMO Invesco S&P 500 Momentum ETF 22.3 13 32 3.8 +1.4
FDMO Fidelity Momentum Factor ETF 22.1 29 16 2.4 +0.0
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 22.0 12 33 4.9 +2.5
XNTK SPDR NYSE Technology ETF 21.9 35 10 2.7 +0.3
ECOZ TrueMark ESG Active Opportunities ETF 21.7 58 -13 3.0 +0.6
PWB Invesco Dynamic Large Cap Growth ETF 21.6 56 -11 2.1 -0.3
OGIG O'Shares Global Internet Giants ETF 21.6 48 -3 0.6 -1.8
DFAU Dimensional US Core Equity Market ETF 21.6 12 33 4.7 +2.2
RESP WisdomTree US ESG Fund of Benef Interest 21.5 28 17 5.0 +2.6
HIPR Direxion High Growth ETF 21.5 40 5 3.8 +1.4
SPXV ProShares S&P 500 Ex-Health Care ETF 21.3 27 18 4.3 +1.9
VEGN US Vegan Climate ETF 21.2 60 -15 3.9 +1.5
MMLG First Trust Multi-Manager Large Growth ETF 20.9 85 -40 1.8 -0.6
WUGI Esoterica NextG Economy ETF 20.9 75 -30 1.0 -1.4
SPGM SPDR Portfolio MSCI Global Stock Market ETF 20.8 9 36 5.1 +2.7
RPG Invesco S&P 500 Pure Growth ETF 20.8 35 10 2.7 +0.3
NACP Impact Shares NAACP Minority Empowerment ETF 20.7 49 -4 4.7 +2.3
QLC FlexShares US Quality Large Cap Index Fund 20.7 32 13 4.4 +2.0
QUS SPDR MSCI USA StrategicFactors ETF 20.5 15 30 5.2 +2.8
ESG FlexShares STOXX US ESG Impact Index Fund 20.5 32 13 4.4 +2.0
TOK iShares MSCI Kokusai ETF 20.5 25 20 4.9 +2.5
LOWC SPDR MSCI ACWI Low Carbon Target ETF 20.4 20 25 5.3 +2.9
GENY Principal Millennials Index ETF 20.4 45 0 3.4 +1.0
SYG SPDR MFS Systematic Growth Equity ETF 20.4 60 -15 3.4 +1.0
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 20.4 49 -4 4.2 +1.7
KOKU Xtrackers MSCI Kokusai Equity ETF 20.3 9 36 5.0 +2.6
CRBN iShares MSCI ACWI Low Carbon Target ETF 20.3 20 25 5.3 +2.9

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

Content on this tab for subscribers only

VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
ProShares MSCI Transformational Changes ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 16.2 %
Divided by: Fwd. P/BV 5.7 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 2.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.42 CATEGORY
AVERAGE
1.48
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.