ProShares S&P500 Aristocrats
ALTAR
Score™
5.8% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
18.7x P/Sales
ratio
1.4x
P/BV
ratio
3.4x Div.
yield
2.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
ProShares S&P 500 Aristocrats ETF is an exchange-traded fund incorporated in the USA. The ETF seeks investment results, before fees and expenses, that track the performance of the S&P Dividend Aristocrats Index.

FUND BASICS
Category US Equities
Fund Sponsor ProShare Advisors LLC
Website www.proshares.com
Inception date Oct 10, 2013
Assets (mns) $6,036
Currency USD
Expense ratio 35 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 57
Wgt avg mkt cap (mns) $80,924
Large cap (>$10bn) 90.7%
Mid cap ($2-10bn) 9.3%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
LEGGETT & PLATT INC 2.1 %
ABBVIE INC 1.9 %
CATERPILLAR INC 1.9 %
AIR PRODUCTS & CHEMICALS INC 1.9 %
ILLINOIS TOOL WORKS 1.9 %
WALGREENS BOOTS ALLIANCE INC 1.9 %
CARDINAL HEALTH INC 1.8 %
STANLEY BLACK & DECKER 1.8 %
3M CO 1.8 %
AT&T INC 1.8 %
Total 18.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 92.8 %
BRITAIN 3.6 %
IRELAND 1.7 %
SWITZERLAND 1.7 %







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.
21.4% 17.2% 10.7% -- 11.4%

Market Correlations
versus... Beta R-squared
S&P500 0.85 87%
MSCI EAFE 0.74 55%
MSCI Emg. Mkts. 0.49 40%

Technical Indicators
Recent close $74.01
30d moving avg. $72.00
Annualized volatility 11.1%
Short interest (ETF) 0.0%
Short interest (Underlying) 2.9%
Relative strength (RSI) 74

Liquidity measures
Avg. volume (thou.) 453
Turnover 0.6%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $15,778

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the ProShares S&P500 Aristocrats ETF based on the alternatives' overlap in portfolio holdings with NOBL. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: NOBL Expense: 35 bp ALTAR Score™: 5.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH NOBL
Ticker Fund
Name
Overlap1
vs NOBL
(%)
Expense
ratio
(bp)
Savings
vs NOBL
(bp)
ALTAR
Score™
(%)
ALTAR
vs NOBL
(%)
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income 99.8 75 -40 5.4 -0.4
SDY SPDR S&P Dividend ETF 53.3 35 0 6.4 +0.6
PFM Invesco Dividend Achievers 37.7 54 -19 5.5 -0.4
VSDA VictoryShares Dividend Accelerator 37.0 35 0 4.8 -1.0
VIG Vanguard Dividend Appreciation 36.4 6 29 5.5 -0.4
CCOR Cambria Core Equity 29.4 123 -88 4.6 -1.2
KLCD KFA Large Cap Quality Dividend Index 28.9 41 -6 5.0 -0.8
FLLV Franklin Liberty U.S. Low Volatility 27.0 29 6 5.3 -0.6
VYM Vanguard High Dividend Yield ETF 26.3 6 29 7.3 +1.4
SCHV Schwab U.S. Large-Cap Value 25.3 4 31 7.0 +1.2
OUSA O'Shares FTSE U.S. Quality Dividend 25.1 48 -13 5.9 +0.1
HUSV First Trust Horizon Managed Volatility Domestic 25.0 70 -35 4.7 -1.1
DGRO iShares Core Dividend Growth 25.0 8 27 6.4 +0.6
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility 24.9 25 10 5.7 -0.1
MGV Vanguard Mega Cap 300 Value 24.9 7 28 7.1 +1.3
IWX iShares Russell Top 200 Value 24.6 20 15 7.0 +1.2
LVUS Hartford Multifactor Low Volatility US Equity 24.3 21 14 5.8 +0.0
VTV Vanguard Value ETF 23.4 4 31 7.3 +1.4
DLN WisdomTree Large Cap Dividend 22.6 28 7 6.5 +0.7
OYLD Invesco Russell 1000 Yield Factor ETF 22.3 19 16 7.1 +1.3

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

Content on this tab for subscribers only

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 S&P500 Aristocrats
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

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.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 19.1 %
Divided by: Fwd. P/BV 3.1 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 5.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.68 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.