ProShares Global Listed Private Equity ETF
ALTAR
Score™		 11.7% info Recommen-
dation		 SPECULATIVE
2024E    2025E
P/E
ratio		 9.1x P/Sales
ratio		 2.4x
P/BV
ratio		 0.9x Div.
yield		 6.9%


  • 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) $12
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) $7,143
Large cap (>$10bn) 12.7%
Mid cap ($2-10bn) 61.0%
Small cap (<$2bn) 26.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
3I GROUP PLC 10.2 %
ARES CAPITAL CORP 9.8 %
FS INVESTMENT CORP 8.1 %
ONEX CORPORATION 6.9 %
MAIN STREET CAPITAL CORP 6.3 %
HERCULES TECHNOLOGY GROWTH 4.6 %
KINNEVIK AB CLASS B 4.4 %
HGCAPITAL TRUST PLC 4.4 %
EURAZEO 4.4 %
GOLUB CAPITAL BDC INC 4.4 %
Total 63.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 51.9 %
BRITAIN 11.0 %
FRANCE 8.7 %
CANADA 6.9 %
SWEDEN 5.4 %
SWITZERLAND 2.0 %
BELGIUM 1.4 %




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.
9.3% 29.0% 6.7% 6.7% 6.8%

Market Correlations
versus... Beta R-squared
S&P500 0.99 78%
MSCI EAFE 0.97 78%
MSCI Emg. Mkts. 0.74 44%

Technical Indicators
Recent close $28.10
30d moving avg. $28.22
Annualized volatility 19.5%
Short interest (ETF) 3.0%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.5%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $274

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 172 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™: 11.7%


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 47.9 11 70 11.9 +0.2
LBO WHITEWOLF Publicly Listed Private Equity ETF 33.1 70 11 8.1 -3.7
PSP Invesco Global Listed Private Equity ETF 23.0 106 -25 7.7 -4.0
KBWD Invesco KBW High Dividend Yield Financial ETF 13.2 384 -303 9.3 -2.4
ERNZ TrueShares Active Yield ETF 12.8 75 6 10.9 -0.8
OEUR ALPS O'Shares Europe Quality Dividend ETF 2.6 48 33 5.7 -6.0
IMFL Invesco International Developed Dynamic Multifactor ETF 2.6 34 47 5.9 -5.8
JIG JPMorgan International Growth ETF 2.4 55 26 4.6 -7.1
FKU First Trust United Kingdom AlphaDEX Fund 2.4 80 1 8.5 -3.2
EUFN iShares MSCI Europe Financials ETF 2.2 51 30 8.1 -3.6
IMOM Alpha Architect International Quantitative Momentum ETF 2.0 49 32 5.7 -6.0
UIVM VictoryShares International Value Momentum ETF 2.0 35 46 11.0 -0.7
NUDM Nuveen ESG International Developed Markets Equity ETF 2.0 31 50 6.7 -5.0
RFEU First Trust Riverfront Dynamic Europe ETF 2.0 83 -2 11.1 -0.6
EWU iShares MSCI United Kingdom ETF 1.8 50 31 8.4 -3.3
AVIV Avantis International Large Cap Value ETF 1.6 25 56 9.0 -2.8
OSCV Opus Small Cap Value ETF 1.5 79 2 5.7 -6.0
CGGO Capital Group Global Growth Equity ETF 1.5 47 34 4.6 -7.1
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 1.4 58 23 9.2 -2.5
FEP First Trust Europe AlphaDEX Fund 1.4 80 1 7.8 -3.9
FLGB Franklin FTSE United Kingdom ETF 1.3 9 72 7.9 -3.8
RFDI First Trust Riverfront Dynamic Developed International ETF 1.2 83 -2 10.0 -1.8
QINT American Century Quality Diversified International ETF 1.2 39 42 7.7 -4.0
FDT First Trust Developed Markets ex-US AlphaDEX Fund 1.1 80 1 9.1 -2.6
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 1.0 24 57 8.7 -3.1
JIRE JPMorgan International Research Enhanced Equity ETF 1.0 24 57 7.1 -4.6
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.0 47 34 9.4 -2.3
ISMD Inspire Small/Mid Cap ETF 0.9 54 27 5.3 -6.4
FYLD Cambria Foreign Shareholder Yield ETF 0.9 59 22 13.6 +1.9
IDMO Invesco S&P International Developed Momentum ETF 0.9 25 56 5.9 -5.8
FEUZ First Trust Eurozone AlphaDEX ETF 0.9 80 1 6.7 -5.0
FID First Trust S&P International Dividend Aristocrats ETF 0.8 60 21 9.0 -2.8
WLDR Affinity World Leaders Equity ETF 0.8 67 14 8.1 -3.6
JSTC Adasina Social Justice All Cap Global ETF 0.8 89 -8 4.9 -6.8
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 0.8 25 56 7.2 -4.6
IDHQ Invesco S&P International Developed High Quality ETF 0.7 29 52 6.5 -5.3
USVM VictoryShares US Small Mid Cap Value Momentum ETF 0.7 25 56 7.2 -4.5
RODM Hartford Multifactor Developed Markets (ex-US) ETF 0.7 29 52 8.6 -3.1
IQLT iShares MSCI Intl Quality Factor ETF 0.6 30 51 6.2 -5.5
IMTM iShares MSCI Intl Momentum Factor ETF 0.6 30 51 6.3 -5.4
WDIV SPDR S&P Global Dividend ETF 0.6 40 41 9.4 -2.4
FNK First Trust Mid Cap Value AlphaDEX Fund 0.6 70 11 10.0 -1.7
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.6 20 61 6.9 -4.8
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.6 25 56 7.2 -4.5
IVLU iShares MSCI Intl Value Factor ETF 0.6 30 51 11.4 -0.3
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 0.6 80 1 3.2 -8.5
JHMD John Hancock Multifactor Developed International ETF 0.6 39 42 7.8 -4.0
DMXF iShares ESG Advanced MSCI EAFE ETF 0.6 12 69 5.5 -6.2
FDEV Fidelity International Multifactor ETF 0.6 18 63 7.8 -3.9
EFV iShares MSCI EAFE Value ETF 0.6 34 47 9.4 -2.3
ESGD iShares ESG Aware MSCI EAFE ETF 0.5 20 61 6.9 -4.8
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 0.5 12 69 5.9 -5.9
WWJD Inspire International ETF 0.5 80 1 7.3 -4.4
RODE Hartford Multifactor Diversified International ETF 0.5 29 52 11.8 +0.1
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 0.5 14 67 6.2 -5.5
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.5 12 69 4.8 -6.9
SCHC Schwab International Small-Cap Equity ETF 0.4 11 70 6.6 -5.1
SPEU SPDR Portfolio Europe ETF 0.4 7 74 7.1 -4.6
JPIN J.P. Morgan Diversified Return International Equity ETF 0.4 37 44 8.9 -2.8
IEUR iShares Core MSCI Europe ETF 0.4 11 70 7.1 -4.7
AVDE Avantis International Equity ETF 0.4 23 58 8.1 -3.7
IEV iShares Europe ETF 0.4 67 14 6.6 -5.1
FESM Fidelity Enhanced Small Cap ETF 0.4 28 53 1.7 -10.0
INTF iShares International Equity Factor ETF 0.4 15 66 8.2 -3.6
VGK Vanguard FTSE Europe ETF 0.4 11 70 7.1 -4.7
DBEU Xtrackers MSCI Europe Hedged Equity ETF 0.4 46 35 6.5 -5.2
FNX First Trust Mid Cap Core AlphaDEX Fund 0.4 60 21 6.8 -4.9
IXG iShares Global Financials ETF 0.4 42 39 6.2 -5.5
FLEE Franklin FTSE Europe ETF 0.4 9 72 7.2 -4.6
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.4 39 42 7.5 -4.2
RNSC Furst Trust Small Cap US Equity Select ETF 0.4 60 21 6.8 -4.9
VYMI Vanguard International High Dividend Yield ETF 0.4 22 59 9.8 -1.9
BBEU JPMorgan BetaBuilders Europe ETF 0.4 9 72 7.1 -4.6
GINN Goldman Sachs Innovate Equity ETF 0.4 52 29 2.8 -9.0
IQSI IQ Candriam International Equity ETF 0.4 15 66 6.6 -5.1
DIM WisdomTree International MidCap Dividend Fund 0.3 58 23 7.7 -4.0
TPIF Timothy Plan International ETF 0.3 62 19 6.8 -4.9
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 0.3 20 61 6.5 -5.2
CEFA Global X S&P Catholic Values Developed ex-US ETF 0.3 35 46 6.6 -5.1
STXI Strive International Developed Markets ETF 0.3 29 52 6.9 -4.8
IEUS iShares MSCI Europe Small-Cap ETF 0.3 42 39 6.4 -5.3
EFA iShares MSCI EAFE ETF 0.3 35 46 6.9 -4.8
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.3 39 42 7.4 -4.3
CIL VictoryShares International Volatility Wtd ETF 0.3 45 36 7.0 -4.7
CIZ VictoryShares Developed Enhanced Volatility Wtd ETF 0.3 51 30 7.1 -4.6
DIVI Franklin International Core Dividend Tilt Index ETF 0.3 9 72 8.1 -3.6
IEFA iShares Core MSCI EAFE ETF 0.3 7 74 7.1 -4.6
BLES Inspire Global Hope ETF 0.3 61 20 6.4 -5.3
CWI SPDR MSCI ACWI ex-US ETF 0.2 30 51 6.9 -4.8
IDEV iShares Core MSCI International Developed Markets ETF 0.2 4 77 7.1 -4.6
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 72 5.4 -6.4
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.2 36 45 6.6 -5.1
GSID Goldman Sachs MarketBeta International Equity ETF 0.2 20 61 7.0 -4.7
SPDW SPDR Portfolio Developed World ex-US ETF 0.2 3 78 7.2 -4.5
DFE WisdomTree Europe SmallCap Dividend Fund 0.2 58 23 10.7 -1.0
BKIE BNY Mellon International Equity ETF 0.2 4 77 7.1 -4.6
VEA Vanguard FTSE Developed Markets ETF 0.2 5 76 7.3 -4.4
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.2 45 36 8.9 -2.8
EWC iShares MSCI Canada ETF 0.2 50 31 6.5 -5.2
VSGX Vanguard ESG International Stock ETF 0.2 12 69 6.8 -5.0
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.2 7 74 6.7 -5.0
SCHF Schwab International Equity ETF 0.2 6 75 7.5 -4.2
CSML IndexIQ ETF Trust IQ U.S. Small Cap ETF 0.2 35 46 4.6 -7.2
ISCF iShares International SmallCap Equity Factor ETF 0.2 23 58 9.1 -2.6
FNDF Schwab Fundamental International Large Co. Index ETF 0.2 25 56 9.9 -1.9
HFXI IQ FTSE International Equity Currency Neutral ETF 0.2 20 61 7.1 -4.7
ACWX iShares MSCI ACWI ex U.S. ETF 0.2 34 47 7.0 -4.8
EWQ iShares MSCI France ETF 0.2 53 28 6.3 -5.4
IXUS iShares Core MSCI Total International Stock ETF 0.2 7 74 7.2 -4.5
FAB First Trust Multi Cap Value AlphaDEX Fund 0.2 67 14 8.6 -3.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.2 41 40 7.4 -4.3
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.2 20 61 5.2 -6.6
VXUS Vanguard Total International Stock ETF 0.2 7 74 7.2 -4.5
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.2 18 63 7.0 -4.7
VEU Vanguard FTSE All-World ex-US Index Fund 0.2 8 73 7.3 -4.5
GLOF iShares Global Equity Factor ETF 0.2 20 61 7.0 -4.7
FNY First Trust Mid Cap Growth AlphaDEX Fund 0.1 70 11 2.7 -9.0
SCZ iShares MSCI EAFE Small-Cap ETF 0.1 40 41 6.6 -5.1
KRUZ Unusual Whales Subversive Republican Trading ETF 0.1 75 6 5.4 -6.3
FNDC Schwab Fundamental International Small Co. Index ETF 0.1 39 42 7.2 -4.5
EWUS iShares MSCI United Kingdom Small Cap ETF 0.1 59 22 5.8 -5.9
FLEU Franklin FTSE Eurozone ETF 0.1 9 72 7.3 -4.4
IWN iShares Russell 2000 Value ETF 0.1 24 57 4.8 -6.9
GWX SPDR S&P International Small Cap ETF 0.1 40 41 6.5 -5.2
VTWV Vanguard Russell 2000 Value ETF 0.1 15 66 4.9 -6.8
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.1 30 51 7.3 -4.4
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.1 39 42 4.1 -7.6
PTL Inspire 500 ETF 0.1 9 72 5.6 -6.1
BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF 0.1 9 72 3.3 -8.4
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 0.1 45 36 6.5 -5.2
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.1 80 1 10.8 -0.9
DISV Dimensional International Small Cap Value ETF 0.1 42 39 9.1 -2.6
KOKU Xtrackers MSCI Kokusai Equity ETF 0.1 9 72 5.2 -6.5
FENI Fidelity Enhanced International ETF 0.1 28 53 8.1 -3.7
TOK iShares MSCI Kokusai ETF 0.1 26 55 5.0 -6.7
URTH iShares MSCI World ETF 0.1 24 57 5.2 -6.5
AVSD Avantis Responsible International Equity ETF 0.1 23 58 7.1 -4.6
DWM WisdomTree International Equity Fund 0.1 48 33 8.0 -3.8
DLS WisdomTree International SmallCap Dividend Fund 0.1 58 23 8.8 -2.9
ACWI iShares MSCI ACWI ETF 0.1 32 49 5.3 -6.4
EZU iShares MSCI Eurozone ETF 0.1 52 29 6.6 -5.1
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 0.1 40 41 7.9 -3.8
ISCV iShares Morningstar Small Cap Value ETF 0.1 6 75 7.2 -4.5
VT Vanguard Total World Stock ETF 0.1 7 74 5.5 -6.2
IWM iShares Russell 2000 ETF 0.1 19 62 2.8 -8.9
RSSL Global X Russell 2000 ETF 0.1 8 73 2.6 -9.1
VTWO Vanguard Russell 2000 ETF 0.1 10 71 2.9 -8.8
AVDV Avantis International Small Cap Value ETF 0.1 36 45 8.1 -3.6
DFIS Dimensional International Small Cap ETF 0.1 39 42 6.9 -4.8
FNDA Schwab Fundamental US Small Co. Index ETF 0.0 25 56 6.0 -5.7
FAD First Trust Multi Cap Growth AlphaDEX Fund 0.0 64 17 1.8 -9.9
QWLD SPDR MSCI World StrategicFactors ETF 0.0 30 51 5.9 -5.8
VBR Vanguard Small Cap Value ETF 0.0 7 74 7.8 -3.9
DTH WisdomTree International High Dividend Fund 0.0 58 23 10.1 -1.6
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.0 39 42 5.8 -5.9
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.0 49 32 7.0 -4.7
ISCB iShares Morningstar Small-Cap ETF 0.0 4 77 4.8 -7.0
VB Vanguard Small-Cap ETF 0.0 5 76 4.9 -6.8
DFSI Dimensional International Sustainability Core 1 ETF 0.0 24 57 6.5 -5.2
FNCL Fidelity MSCI Financials Index ETF 0.0 8 73 5.6 -6.1
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.0 20 61 4.6 -7.1
VFH Vanguard Financials ETF 0.0 10 71 5.7 -6.0
DFIC Dimensional International Core Equity 2 ETF 0.0 23 58 7.7 -4.0
DFAI Dimensional International Core Equity Market ETF 0.0 18 63 7.3 -4.4
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.0 30 51 8.0 -3.8
TILT FlexShares Morningstar US Market Factor Tilt Index Fund 0.0 25 56 5.2 -6.5
AFSM First Trust Active Factor Small Cap ETF 0.0 75 6 6.3 -5.4
FNDB Schwab Fundamental US Broad Market Index ETF 0.0 25 56 6.8 -5.0
IWV iShares Russell 3000 ETF 0.0 20 61 4.7 -7.1
VTHR Vanguard Russell 3000 ETF 0.0 10 71 4.7 -7.0
VTI Vanguard Total Stock Market ETF 0.0 3 78 4.7 -7.0
ESGG FlexShares STOXX Global ESG Select Index Fund 0.0 42 39 5.1 -6.6

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

  2019 2020 2021 2022 2023 2024E 2025E
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
  2023 2024E 2025E
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 10.7 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 81 bp
Equals: ALTAR Score 11.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.49 CATEGORY
AVERAGE		 1.53
 
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.