ProShares Online Retail
ALTAR
Score™
2.8% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
51.7x P/Sales
ratio
1.4x
P/BV
ratio
4.7x Div.
yield
0.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The ProShares Online Retail ETF tracks a global index of stocks issued by companies classified as online retailers according to standard classification systems. Stocks are weighted on a modified market-cap basis.

FUND BASICS
Category Global Equities
Fund Sponsor ProShares
Website www.proshares.com
Inception date Jul 13, 2018
Assets (mns) $22
Currency USD
Expense ratio 58 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 24
Wgt avg mkt cap (mns) $276,365
Large cap (>$10bn) 49.1%
Mid cap ($2-10bn) 21.9%
Small cap (<$2bn) 29.0%
Developed mkts 79.3%
Emerging mkts 20.8%

TOP TEN HOLDINGS
AMAZON.COM INC 25.0 %
ALIBABA GROUP HOLDING LTD. SPONSOR 13.6 %
SHUTTERSTOCK INC 5.2 %
QUOTIENT TECHNOLOGY INCORPORATED 4.6 %
EBAY INC 4.6 %
STAMPS.COM INC 4.6 %
GROUPON INC 4.5 %
LIBERTY MEDIA CORP-INTER A 4.4 %
STITCH FIX, INC. CLASS A 4.3 %
CHEWY, INC. CLASS A 3.9 %
Total 74.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 73.4 %
CHINA 22.5 %
ARGENTINA 2.2 %
BRITAIN 1.0 %
ISRAEL 0.3 %
GERMANY 0.2 %





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.
12.0% 4.3% -- -- -11.0%

Market Correlations
versus... Beta R-squared
S&P500 1.62 85%
MSCI EAFE 1.88 82%
MSCI Emg. Mkts. 1.61 84%

Technical Indicators
Recent close $34.49
30d moving avg. $34.32
Annualized volatility 31.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 8
Turnover 1.2%
Bid/Ask (% of price) 0.21%
ADV underlying (mns) $9,275

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: ONLN Expense: 58 bp ALTAR Score™: 2.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ONLN
Ticker Fund
Name
Overlap1
vs ONLN
(%)
Expense
ratio
(bp)
Savings
vs ONLN
(bp)
ALTAR
Score™
(%)
ALTAR
vs ONLN
(%)
IBUY Amplify Online Retail 36.2 65 -7 2.4 -0.5
EBIZ Global X E-commerce 31.3 68 -10 3.2 +0.4
PNQI Invesco Nasdaq Internet 28.1 62 -4 2.9 +0.0
FDIS Fidelity MSCI Consumer Discrettionary 26.3 8 50 5.4 +2.5
XWEB SPDR S&P Internet 26.1 35 23 2.2 -0.7
TTTN TigerShares China-U.S. Internet Titans 24.6 59 -1 4.0 +1.1
XLY Consumer Discretionary Select Sector SPDR 23.6 13 45 5.7 +2.9
VCR Vanguard Consumer Discretionary 23.1 10 48 5.5 +2.7
RTH VanEck Vectors Retail 21.8 35 23 5.8 +2.9
KWEB KraneShares CSI China Internet 18.1 76 -18 4.9 +2.0
PLAT WisdomTree Modern Tech Platforms 17.9 45 13 2.9 +0.0
EMQQ Emerging Markets Internet & E-Commerce 17.5 86 -28 4.3 +1.5
OGIG O'Shares Global Internet Giants 17.0 48 10 1.6 -1.3
GIGE SoFi Gig Economy 16.9 59 -1 0.5 -2.4
CHIQ Global X MSCI China Consumer Discretionary 16.8 65 -7 5.3 +2.4
PGJ Invesco Golden Dragon China 16.6 70 -12 4.4 +1.6
CXSE WisdomTree China ex-State Owned Enterprises 16.4 32 26 7.1 +4.3
ADRE BLDRs Emerging Markets 50 ADR 15.9 30 28 6.6 +3.7
GBUY Goldman Sachs Motif New Age Consumer 15.8 50 8 3.6 +0.8
MCHI iShares MSCI China 15.8 59 -1 9.3 +6.5

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 Online Retail
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 14.5 %
Divided by: Fwd. P/BV 4.2 x
Less: Expense ratio 58 bp
Equals: ALTAR Score 2.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.40 CATEGORY
AVERAGE
1.54
 
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.