ProShares Equities for Rising Rates
ALTAR
Score™
8.1% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
12.3x P/Sales
ratio
1.2x
P/BV
ratio
1.6x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The ProShares Equities for Rising Rates ETF tracks an index of 50 US-listed large-cap stocks that are anticipated to perform favorably during periods of rising interest rates.

FUND BASICS
Category US Equities
Fund Sponsor ProShares
Website www.proshares.com
Inception date Jul 24, 2017
Assets (mns) $3
Currency USD
Expense ratio 35 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 50
Wgt avg mkt cap (mns) $55,432
Large cap (>$10bn) 94.8%
Mid cap ($2-10bn) 5.3%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MORGAN STANLEY 3.2 %
BANK OF AMERICA CORP 3.1 %
JPMORGAN CHASE & CO 3.1 %
GOLDMAN SACHS GROUP INC 2.9 %
RAYMOND JAMES FINANCIAL INC 2.9 %
REGIONS FINANCIAL CORP 2.9 %
SCHWAB (CHARLES) CORP 2.9 %
HUNTINGTON BANCSHARES INC 2.9 %
UNITED RENTALS INC 2.9 %
PRUDENTIAL FINANCIAL INC 2.8 %
Total 29.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.2 %
BRITAIN 1.5 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
7.6% -8.9% -- -- 1.0%

Market Correlations
versus... Beta R-squared
S&P500 1.45 76%
MSCI EAFE 1.62 74%
MSCI Emg. Mkts. 1.14 57%

Technical Indicators
Recent close $41.86
30d moving avg. $39.93
Annualized volatility 22.8%
Short interest (ETF) 0.1%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 1
Turnover 1.4%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $11,535

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the ProShares Equities for Rising Rates ETF based on the alternatives' overlap in portfolio holdings with EQRR. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EQRR Expense: 35 bp ALTAR Score™: 8.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EQRR
Ticker Fund
Name
Overlap1
vs EQRR
(%)
Expense
ratio
(bp)
Savings
vs EQRR
(bp)
ALTAR
Score™
(%)
ALTAR
vs EQRR
(%)
FTA First Trust Large Cap Value 31.5 62 -27 8.7 +0.6
SPVU Invesco S&P 500 Value 27.0 13 22 11.1 +3.0
PXLV Invesco Fundamental Pure Large Value 22.3 39 -4 8.5 +0.4
XLSY Cushing Energy Supply Chain & MLP 21.9 65 -30 5.6 -2.5
SLT Salt TruBeta High Exposure 19.6 29 6 6.5 -1.7
FXN First Trust Energy Alphadex 19.6 63 -28 4.5 -3.6
MAGA Point Bridge GOP Stock Tracker 19.1 72 -37 6.5 -1.6
PXLG Invesco Fundamental Pure Large Growth 18.9 35 0 8.2 +0.1
ESGS Columbia Sustainable U.S. Equity Income 18.1 35 0 8.4 +0.3
SPYB SPDR S&P 500 Buyback 18.0 35 0 7.4 -0.7
RWW Invesco S&P Financials Revenue 17.9 45 -10 7.4 -0.7
JHME John Hancock Multifactor Energy 17.9 40 -5 3.4 -4.7
FEX First Trust Large Cap Core Alphadex 17.9 61 -26 6.4 -1.7
RYE Invesco S&P Equal Weight Energy ETF 17.6 40 -5 3.6 -4.5
RPV Invesco S&P 500 Pure Value ETF 17.5 35 0 9.8 +1.7
RGI Invesco S&P Equal Weight Industrials 17.3 40 -5 6.7 -1.5
FVAL Fidelity Value Factor 17.1 29 6 8.2 +0.1
ESGL Invesco ESG Revenue ETF 16.8 40 -5 7.8 -0.3
VLUE iShares MSCI USA Value Factor 16.6 15 20 11.0 +2.9
XLI Industrials Select Sector SPDR 16.2 13 22 6.2 -2.0

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%.

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RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
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

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VALUATION METRICS
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
ProShares Equities for Rising Rates
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.3 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 8.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 CATEGORY
AVERAGE
1.55
 
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.