ProShares Global Listed Private Equity ETF
ALTAR
Score™		 10.8% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 7.7x P/Sales
ratio		 2.4x
P/BV
ratio		 1.0x Div.
yield		 6.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
ProShares Global Listed Private Equity ETF is an exchange-traded fund incorporated in the USA. The Fund seeks daily investment results that correspond to the daily performance of the LPX Direct Listed Private Equity Index. This index consists of up to 30 listed private equity companies.

FUND BASICS
Category Global Equities
Fund Sponsor ProShare Advisors LLC
Website www.proshares.com
Inception date Feb 26, 2013
Assets (mns) $15
Currency USD
Expense ratio 81 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 31
Wgt avg mkt cap (mns) $8,740
Large cap (>$10bn) 12.4%
Mid cap ($2-10bn) 60.4%
Small cap (<$2bn) 27.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
3I GROUP PLC 10.5 %
ARES CAPITAL CORP 10.1 %
FS INVESTMENT CORP 9.5 %
MAIN STREET CAPITAL CORP 7.3 %
ONEX CORPORATION 7.0 %
EURAZEO 4.7 %
HGCAPITAL TRUST PLC 4.4 %
WENDEL 4.4 %
GOLUB CAPITAL BDC INC 4.4 %
HERCULES TECHNOLOGY GROWTH 4.1 %
Total 66.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 50.7 %
BRITAIN 9.5 %
FRANCE 7.7 %
BELGIUM 5.5 %
CANADA 5.5 %
SWITZERLAND 1.8 %
SWEDEN 0.9 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 29)
Year-to-date 1 year 5 years 10 years Since Incep.
1.2% 0.6% 9.0% 5.8% 6.1%

Market Correlations
versus... Beta R-squared
S&P500 0.88 69%
MSCI EAFE 0.76 59%
MSCI Emg. Mkts. 0.59 38%

Technical Indicators
Recent close $27.70
30d moving avg. $28.13
Annualized volatility 16.1%
Short interest (ETF) 4.2%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.6%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $321

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 164 potential alternatives to the ProShares Global Listed Private Equity ETF ETF based on the alternatives' overlap in portfolio holdings with PEX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PEX Expense: 81 bp ALTAR Score™: 10.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PEX
Ticker Fund
Name		 Overlap1
vs PEX
(%)		 Expense
ratio
(bp)		 Savings
vs PEX
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs PEX
(%)
BIZD VanEck BDC Income ETF 37.0 11 70 11.3 +0.6
LBO WHITEWOLF Publicly Listed Private Equity ETF 34.4 70 11 8.2 -2.6
PSP Invesco Global Listed Private Equity ETF 20.9 106 -25 5.8 -5.0
KBWD Invesco KBW High Dividend Yield Financial ETF 11.6 384 -303 13.2 +2.4
IMFL Invesco International Developed Dynamic Multifactor ETF 4.4 34 47 6.2 -4.6
PPIE Putnam PanAgora ESG International Equity ETF 3.4 49 32 7.6 -3.2
OEUR ALPS O'Shares Europe Quality Dividend ETF 2.9 48 33 6.2 -4.6
MDLV Morgan Dempsey Large Cap Value ETF 2.4 58 23 7.4 -3.3
JIG JPMorgan International Growth ETF 2.4 55 26 4.9 -5.9
PEY Invesco High Yield Equity Dividend Achievers ETF 2.4 52 29 10.1 -0.7
RFEU First Trust Riverfront Dynamic Europe ETF 2.2 83 -2 10.9 +0.1
FKU First Trust United Kingdom AlphaDEX Fund 2.2 80 1 7.5 -3.3
CGGO Capital Group Global Growth Equity ETF 2.0 47 34 4.8 -6.0
EWU iShares MSCI United Kingdom ETF 1.9 50 31 8.3 -2.5
EUFN iShares MSCI Europe Financials ETF 1.9 51 30 8.1 -2.7
AVIV Avantis International Large Cap Value ETF 1.7 25 56 8.7 -2.1
NUDM Nuveen ESG International Developed Markets Equity ETF 1.6 31 50 6.4 -4.4
FLGB Franklin FTSE United Kingdom ETF 1.6 9 72 7.7 -3.1
COPY Tweedy, Browne Insider + Value ETF 1.4 80 1 11.9 +1.1
RFDI First Trust Riverfront Dynamic Developed International ETF 1.3 83 -2 9.6 -1.2
ISMD Inspire Small/Mid Cap ETF 1.0 54 27 5.5 -5.2
CGXU Capital Group International Focus Equity ETF 1.0 54 27 5.7 -5.1
JIRE JPMorgan International Research Enhanced Equity ETF 1.0 24 57 7.3 -3.5
IDHQ Invesco S&P International Developed High Quality ETF 0.9 29 52 6.8 -4.0
FEP First Trust Europe AlphaDEX Fund 0.9 80 1 9.3 -1.5
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.8 24 57 7.5 -3.3
WLDR Affinity World Leaders Equity ETF 0.8 67 14 7.6 -3.2
IDMO Invesco S&P International Developed Momentum ETF 0.8 25 56 5.4 -5.4
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 0.7 58 23 8.9 -1.9
IMTM iShares MSCI Intl Momentum Factor ETF 0.7 30 51 5.6 -5.2
AVSD Avantis Responsible International Equity ETF 0.7 23 58 5.8 -5.0
DMXF iShares ESG Advanced MSCI EAFE ETF 0.6 12 69 5.6 -5.2
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.6 20 61 6.6 -4.2
FNK First Trust Mid Cap Value AlphaDEX Fund 0.6 70 11 10.9 +0.1
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 0.6 14 67 6.3 -4.5
JSTC Adasina Social Justice All Cap Global ETF 0.6 89 -8 4.9 -5.9
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 0.6 12 69 6.1 -4.7
FEUZ First Trust Eurozone AlphaDEX ETF 0.6 80 1 9.3 -1.5
ESGD iShares ESG Aware MSCI EAFE ETF 0.6 20 61 6.9 -3.9
IQLT iShares MSCI Intl Quality Factor ETF 0.6 30 51 6.4 -4.4
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 0.6 25 56 7.5 -3.3
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 0.5 80 1 5.1 -5.7
FYT First Trust Small Cap Value AlphaDEX Fund 0.5 73 8 10.6 -0.2
IVLU iShares MSCI Intl Value Factor ETF 0.5 30 51 10.5 -0.3
AFMC First Trust Active Factor Mid Cap ETF 0.5 65 16 8.4 -2.4
FDEV Fidelity International Multifactor ETF 0.5 18 63 7.5 -3.3
WWJD Inspire International ETF 0.5 80 1 7.4 -3.3
UIVM VictoryShares International Value Momentum ETF 0.5 35 46 9.0 -1.8
FNY First Trust Mid Cap Growth AlphaDEX Fund 0.5 70 11 2.9 -7.9
AVDE Avantis International Equity ETF 0.5 23 58 7.5 -3.3
FNX First Trust Mid Cap Core AlphaDEX Fund 0.5 60 21 7.3 -3.4
IEV iShares Europe ETF 0.4 67 14 7.0 -3.8
GINN Goldman Sachs Innovate Equity ETF 0.4 52 29 3.7 -7.1
IEUR iShares Core MSCI Europe ETF 0.4 11 70 7.5 -3.2
DBEU Xtrackers MSCI Europe Hedged Equity ETF 0.4 46 35 6.8 -4.0
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.4 25 56 7.2 -3.6
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.4 12 69 5.3 -5.5
SPEU SPDR Portfolio Europe ETF 0.4 7 74 7.6 -3.2
FLEE Franklin FTSE Europe ETF 0.4 9 72 7.4 -3.4
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.4 39 42 6.8 -4.0
VGK Vanguard FTSE Europe ETF 0.4 6 75 7.6 -3.1
BBEU JPMorgan BetaBuilders Europe ETF 0.4 9 72 7.4 -3.4
IQSI IQ Candriam International Equity ETF 0.4 15 66 6.7 -4.0
JPIN J.P. Morgan Diversified Return International Equity ETF 0.4 37 44 8.4 -2.4
IXG iShares Global Financials ETF 0.4 42 39 6.6 -4.2
FENI Fidelity Enhanced International ETF 0.4 28 53 6.7 -4.1
EFG iShares MSCI EAFE Growth ETF 0.4 36 45 4.5 -6.3
DIVI Franklin International Core Dividend Tilt Index ETF 0.4 9 72 8.1 -2.7
INTF iShares International Equity Factor ETF 0.3 15 66 7.7 -3.1
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.3 39 42 8.0 -2.8
STXI Strive International Developed Markets ETF 0.3 29 52 6.8 -4.0
IPKW Invesco International BuyBack Achievers ETF 0.3 55 26 12.7 +1.9
TPIF Timothy Plan International ETF 0.3 62 19 6.3 -4.5
CEFA Global X S&P Catholic Values Developed ex-US ETF 0.3 35 46 6.8 -4.0
FDT First Trust Developed Markets ex-US AlphaDEX Fund 0.3 80 1 9.7 -1.1
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 0.3 20 61 6.5 -4.3
EFA iShares MSCI EAFE ETF 0.3 35 46 6.8 -4.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.3 36 45 6.6 -4.2
FAB First Trust Multi Cap Value AlphaDEX Fund 0.3 67 14 9.8 -1.0
IEFA iShares Core MSCI EAFE ETF 0.3 7 74 7.1 -3.7
FYX First Trust Small Cap Core AlphaDEX Fund 0.3 61 20 6.0 -4.8
BLES Inspire Global Hope ETF 0.3 61 20 6.9 -3.9
GSID Goldman Sachs MarketBeta International Equity ETF 0.3 20 61 7.0 -3.8
IEUS iShares MSCI Europe Small-Cap ETF 0.3 42 39 7.5 -3.3
IDEV iShares Core MSCI International Developed Markets ETF 0.3 4 77 7.1 -3.7
BKIE BNY Mellon International Equity ETF 0.3 4 77 7.1 -3.6
HFXI IQ FTSE International Equity Currency Neutral ETF 0.3 20 61 7.1 -3.6
SCHC Schwab International Small-Cap Equity ETF 0.2 11 70 6.7 -4.1
SCHF Schwab International Equity ETF 0.2 6 75 7.4 -3.4
SPDW SPDR Portfolio Developed World ex-US ETF 0.2 3 78 7.1 -3.7
CIL VictoryShares International Volatility Wtd ETF 0.2 45 36 6.7 -4.1
VSGX Vanguard ESG International Stock ETF 0.2 10 71 7.8 -3.0
CWI SPDR MSCI ACWI ex-US ETF 0.2 30 51 7.8 -3.0
VEA Vanguard FTSE Developed Markets ETF 0.2 3 78 7.3 -3.5
GLOF iShares Global Equity Factor ETF 0.2 20 61 6.6 -4.2
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.2 80 1 10.7 -0.1
EFV iShares MSCI EAFE Value ETF 0.2 34 47 9.2 -1.6
DFE WisdomTree Europe SmallCap Dividend Fund 0.2 58 23 8.3 -2.5
FESM Fidelity Enhanced Small Cap ETF 0.2 28 53 7.3 -3.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.2 41 40 7.5 -3.3
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 72 5.8 -5.0
ACWX iShares MSCI ACWI ex U.S. ETF 0.2 34 47 7.9 -2.9
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.2 8 73 6.2 -4.6
DIM WisdomTree International MidCap Dividend Fund 0.2 58 23 7.6 -3.2
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.2 18 63 8.1 -2.7
IXUS iShares Core MSCI Total International Stock ETF 0.2 7 74 8.0 -2.8
EWUS iShares MSCI United Kingdom Small Cap ETF 0.2 59 22 7.8 -3.0
VXUS Vanguard Total International Stock ETF 0.2 5 76 8.0 -2.8
VEU Vanguard FTSE All-World ex-US Index Fund 0.2 4 77 8.2 -2.6
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.2 45 36 9.0 -1.8
FAD First Trust Multi Cap Growth AlphaDEX Fund 0.1 64 17 2.3 -8.5
QINT American Century Quality Diversified International ETF 0.1 39 42 7.5 -3.3
ISCF iShares International SmallCap Equity Factor ETF 0.1 23 58 8.3 -2.5
EWQ iShares MSCI France ETF 0.1 53 28 7.5 -3.3
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.1 30 51 7.1 -3.7
SCZ iShares MSCI EAFE Small-Cap ETF 0.1 40 41 7.0 -3.8
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 71 5.8 -5.0
GWX SPDR S&P International Small Cap ETF 0.1 40 41 6.1 -4.7
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.1 20 61 5.7 -5.1
KOKU Xtrackers MSCI Kokusai Equity ETF 0.1 9 72 5.3 -5.5
FNDF Schwab Fundamental International Large Co. Index ETF 0.1 25 56 9.7 -1.1
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 0.1 45 36 7.1 -3.7
BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF 0.1 9 72 4.3 -6.5
DLS WisdomTree International SmallCap Dividend Fund 0.1 58 23 8.2 -2.6
TOK iShares MSCI Kokusai ETF 0.1 26 55 5.1 -5.7
DISV Dimensional International Small Cap Value ETF 0.1 42 39 9.2 -1.6
URTH iShares MSCI World ETF 0.1 24 57 5.2 -5.6
ACWI iShares MSCI ACWI ETF 0.1 32 49 5.6 -5.2
VT Vanguard Total World Stock ETF 0.1 6 75 5.9 -4.9
FNDC Schwab Fundamental International Small Co. Index ETF 0.1 39 42 5.8 -5.0
AFSM First Trust Active Factor Small Cap ETF 0.1 75 6 7.6 -3.1
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.1 49 32 6.9 -3.8
QWLD SPDR MSCI World StrategicFactors ETF 0.0 30 51 6.0 -4.8
EZU iShares MSCI Eurozone ETF 0.0 52 29 6.9 -3.9
IWN iShares Russell 2000 Value ETF 0.0 24 57 7.4 -3.4
VTWV Vanguard Russell 2000 Value ETF 0.0 10 71 7.4 -3.4
DFIS Dimensional International Small Cap ETF 0.0 39 42 7.4 -3.4
EBI Longview Advantage ETF 0.0 35 46 6.6 -4.2
PFM Invesco Dividend Achievers ETF 0.0 53 28 5.3 -5.5
VYMI Vanguard International High Dividend Yield ETF 0.0 17 64 9.6 -1.1
DTH WisdomTree International High Dividend Fund 0.0 58 23 8.6 -2.2
FNCL Fidelity MSCI Financials Index ETF 0.0 8 73 6.3 -4.5
RSSL Global X Russell 2000 ETF 0.0 8 73 4.4 -6.4
AVDV Avantis International Small Cap Value ETF 0.0 36 45 9.6 -1.2
AVDS Avantis International Small Cap Equity ETF 0.0 30 51 7.4 -3.4
IWM iShares Russell 2000 ETF 0.0 19 62 4.3 -6.5
ISCV iShares Morningstar Small Cap Value ETF 0.0 6 75 9.3 -1.5
VTWO Vanguard Russell 2000 ETF 0.0 7 74 4.4 -6.4
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.0 39 42 5.4 -5.4
DXIV Dimensional International Vector Equity ETF 0.0 34 47 7.9 -2.9
DFSI Dimensional International Sustainability Core 1 ETF 0.0 24 57 6.5 -4.3
TILT FlexShares Morningstar US Market Factor Tilt Index Fund 0.0 25 56 5.7 -5.1
DFIC Dimensional International Core Equity 2 ETF 0.0 23 58 7.5 -3.3
ISCB iShares Morningstar Small-Cap ETF 0.0 4 77 6.3 -4.5
VBR Vanguard Small Cap Value ETF 0.0 7 74 9.1 -1.7
VFH Vanguard Financials ETF 0.0 9 72 6.3 -4.5
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.0 30 51 8.0 -2.8
VB Vanguard Small-Cap ETF 0.0 5 76 6.2 -4.6
DFAI Dimensional International Core Equity Market ETF 0.0 18 63 7.2 -3.6
IWV iShares Russell 3000 ETF 0.0 20 61 4.8 -6.0
VTHR Vanguard Russell 3000 ETF 0.0 7 74 4.9 -5.9
VTI Vanguard Total Stock Market ETF 0.0 3 78 4.9 -5.9
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 0.0 40 41 7.5 -3.3
ESGG FlexShares STOXX Global ESG Select Index Fund 0.0 42 39 5.5 -5.3

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

  2020 2021 2022 2023 2024 2025E 2026E
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
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 ProShares Global Listed Private Equity ETF
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 11.1 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 81 bp
Equals: ALTAR Score 10.8 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.53 CATEGORY
AVERAGE		 1.58
 
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.