ProShares Global Listed Private Equity ETF
ALTAR
Score™		 10.7% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 7.7x P/Sales
ratio		 2.4x
P/BV
ratio		 0.9x Div.
yield		 7.4%


  • 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) $13
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) $6,895
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
ARES CAPITAL CORP 10.3 %
MAIN STREET CAPITAL CORP 7.8 %
3I GROUP PLC 7.6 %
SOFINA 7.4 %
ONEX CORPORATION 6.6 %
HERCULES TECHNOLOGY GROWTH 4.8 %
FS INVESTMENT CORP 4.7 %
HGCAPITAL TRUST PLC 4.6 %
GOLUB CAPITAL BDC INC 4.6 %
EURAZEO 4.1 %
Total 62.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 46.3 %
BELGIUM 9.4 %
FRANCE 8.0 %
BRITAIN 7.6 %
CANADA 6.6 %
SWITZERLAND 2.6 %
SWEDEN 1.2 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
0.2% 0.2% 5.8% 6.1% 6.1%

Market Correlations
versus... Beta R-squared
S&P500 0.70 62%
MSCI EAFE 0.85 66%
MSCI Emg. Mkts. 0.69 50%

Technical Indicators
Recent close $25.31
30d moving avg. $24.66
Annualized volatility 13.2%
Short interest (ETF) 4.3%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 4
Turnover 0.8%
Bid/Ask (% of price) 0.23%
ADV underlying (mns) $321

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 159 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™: 10.7%


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 33.6 11 70 11.5 +0.7
LBO WHITEWOLF Publicly Listed Private Equity ETF 29.5 70 11 8.8 -1.9
PSP Invesco Global Listed Private Equity ETF 25.7 106 -25 5.3 -5.4
AAUM Tema Alternative Asset Managers ETF 10.2 99 -18 2.8 -7.9
KBWD Invesco KBW High Dividend Yield Financial ETF 7.3 384 -303 12.5 +1.8
GPZ VanEck Alternative Asset Manager ETF 6.2 40 41 4.0 -6.7
RJDI RJ Eagle GCM Dividend Select Income ETF 3.3 55 26 4.8 -6.0
EWK iShares MSCI Belgium ETF 3.1 50 31 4.0 -6.8
IMFL Invesco International Developed Dynamic Multifactor ETF 2.7 34 47 5.0 -5.7
PPIE Putnam PanAgora ESG International Equity ETF 2.2 49 32 6.9 -3.8
EUDV ProShares MSCI Europe Dividend Growers ETF 2.2 55 26 5.4 -5.3
MDLV Morgan Dempsey Large Cap Value ETF 2.2 58 23 6.5 -4.3
PEY Invesco High Yield Equity Dividend Achievers ETF 1.8 52 29 8.8 -1.9
OEFA ALPS O’Shares International Developed Quality Dividend ETF 1.6 48 33 4.6 -6.1
INEQ Columbia International Equity Income ETF 1.5 45 36 7.5 -3.2
FKU First Trust United Kingdom AlphaDEX Fund 1.5 80 1 6.5 -4.2
JIG JPMorgan International Growth ETF 1.4 55 26 3.9 -6.8
FICS First Trust International Developed Capital Strength ETF 1.4 70 11 6.4 -4.3
EUFN iShares MSCI Europe Financials ETF 1.4 51 30 6.8 -4.0
CGGO Capital Group Global Growth Equity ETF 1.4 47 34 3.8 -7.0
EWU iShares MSCI United Kingdom ETF 1.4 50 31 6.9 -3.8
FLGB Franklin FTSE United Kingdom ETF 1.3 9 72 6.6 -4.1
EFAD ProShares MSCI EAFE Dividend Growers ETF 1.3 50 31 5.4 -5.3
NUDM Nuveen ESG International Developed Markets Equity ETF 1.2 31 50 5.7 -5.0
CGXU Capital Group International Focus Equity ETF 1.0 54 27 4.7 -6.0
IDHQ Invesco S&P International Developed High Quality ETF 1.0 29 52 5.3 -5.4
KVLE KraneShares Value Line Dynamic Dividend Equity Index ETF 0.9 56 25 5.8 -5.0
RFDI First Trust Riverfront Dynamic Developed International ETF 0.9 83 -2 8.0 -2.7
JIRE JPMorgan International Research Enhanced Equity ETF 0.8 24 57 6.2 -4.5
ISMD Inspire Small/Mid Cap ETF 0.7 54 27 4.6 -6.2
IDMO Invesco S&P International Developed Momentum ETF 0.7 25 56 5.1 -5.6
IQLT iShares MSCI Intl Quality Factor ETF 0.7 30 51 5.3 -5.4
FEP First Trust Europe AlphaDEX Fund 0.6 80 1 6.9 -3.9
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 0.6 80 1 3.4 -7.3
JSTC Adasina Social Justice All Cap Global ETF 0.6 89 -8 4.2 -6.5
WLDR Affinity World Leaders Equity ETF 0.6 67 14 6.4 -4.3
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.5 24 57 6.4 -4.3
DMXF iShares ESG Advanced MSCI EAFE ETF 0.5 12 69 5.0 -5.8
IEUS iShares MSCI Europe Small-Cap ETF 0.5 42 39 6.6 -4.2
AVIV Avantis International Large Cap Value ETF 0.5 25 56 7.4 -3.3
AVSD Avantis Responsible International Equity ETF 0.4 23 58 4.6 -6.1
IVLU iShares MSCI Intl Value Factor ETF 0.4 30 51 8.7 -2.1
FNY First Trust Mid Cap Growth AlphaDEX Fund 0.4 70 11 1.6 -9.1
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 0.4 14 67 5.5 -5.2
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 0.4 12 69 5.2 -5.5
GINN Goldman Sachs Innovate Equity ETF 0.4 52 29 3.2 -7.5
FDEV Fidelity International Multifactor ETF 0.4 18 63 6.6 -4.2
WWJD Inspire International ETF 0.4 80 1 6.4 -4.3
FDT First Trust Developed Markets ex-US AlphaDEX Fund 0.4 80 1 7.3 -3.5
FLEE Franklin FTSE Europe ETF 0.4 9 72 6.3 -4.5
BBEU JPMorgan BetaBuilders Europe ETF 0.4 9 72 6.2 -4.5
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.4 20 61 5.6 -5.2
AFMC First Trust Active Factor Mid Cap ETF 0.4 65 16 7.0 -3.8
IMTM iShares MSCI Intl Momentum Factor ETF 0.3 30 51 4.7 -6.1
DBEU Xtrackers MSCI Europe Hedged Equity ETF 0.3 46 35 5.8 -4.9
IEUR iShares Core MSCI Europe ETF 0.3 11 70 6.3 -4.5
SPEU SPDR Portfolio Europe ETF 0.3 7 74 6.3 -4.4
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.3 12 69 4.3 -6.4
ESGD iShares ESG Aware MSCI EAFE ETF 0.3 20 61 5.7 -5.0
VGK Vanguard FTSE Europe ETF 0.3 6 75 6.4 -4.4
ISCF iShares International SmallCap Equity Factor ETF 0.3 23 58 7.3 -3.4
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.3 80 1 9.3 -1.4
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 0.3 25 56 6.4 -4.3
DIVI Franklin International Core Dividend Tilt Index ETF 0.3 9 72 6.9 -3.9
IEV iShares Europe ETF 0.3 67 14 5.7 -5.0
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.3 39 42 6.8 -4.0
EFV iShares MSCI EAFE Value ETF 0.3 34 47 7.7 -3.0
IPKW Invesco International BuyBack Achievers ETF 0.3 55 26 7.9 -2.8
AVDE Avantis International Equity ETF 0.3 23 58 6.3 -4.4
JPIN J.P. Morgan Diversified Return International Equity ETF 0.3 37 44 7.2 -3.5
IXG iShares Global Financials ETF 0.3 42 39 5.9 -4.8
JHID John Hancock International High Dividend ETF 0.3 46 35 8.3 -2.4
SCHC Schwab International Small-Cap Equity ETF 0.3 11 70 6.7 -4.0
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.2 30 51 6.0 -4.7
CEFA Global X S&P Catholic Values Developed ex-US ETF 0.2 35 46 5.7 -5.0
AVDS Avantis International Small Cap Equity ETF 0.2 30 51 5.9 -4.8
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 0.2 20 61 5.4 -5.3
STXI Strive International Developed Markets ETF 0.2 29 52 5.6 -5.1
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.2 25 56 6.2 -4.5
EFA iShares MSCI EAFE ETF 0.2 35 46 5.7 -5.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.2 36 45 5.8 -5.0
GSID Goldman Sachs MarketBeta International Equity ETF 0.2 20 61 5.8 -4.9
HFXI IQ FTSE International Equity Currency Neutral ETF 0.2 20 61 5.9 -4.8
DFE WisdomTree Europe SmallCap Dividend Fund 0.2 58 23 7.2 -3.5
BKIE BNY Mellon International Equity ETF 0.2 4 77 6.0 -4.7
IEFA iShares Core MSCI EAFE ETF 0.2 7 74 6.1 -4.7
IDEV iShares Core MSCI International Developed Markets ETF 0.2 4 77 6.0 -4.7
BLES Inspire Global Hope ETF 0.2 61 20 6.0 -4.7
TPIF Timothy Plan International ETF 0.2 62 19 5.4 -5.4
SPDW SPDR Portfolio Developed World ex-US ETF 0.2 3 78 6.0 -4.7
SCZ iShares MSCI EAFE Small-Cap ETF 0.2 40 41 6.2 -4.6
VEA Vanguard FTSE Developed Markets ETF 0.2 3 78 6.1 -4.7
SCHF Schwab International Equity ETF 0.2 6 75 6.2 -4.6
VSGX Vanguard ESG International Stock ETF 0.2 10 71 6.6 -4.1
JHMD John Hancock Multifactor Developed International ETF 0.2 39 42 6.5 -4.3
DIM WisdomTree International MidCap Dividend Fund 0.2 58 23 6.4 -4.3
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.2 8 73 6.4 -4.3
CWI SPDR MSCI ACWI ex-US ETF 0.2 30 51 6.4 -4.3
CIL VictoryShares International Volatility Wtd ETF 0.2 45 36 5.7 -5.0
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 72 4.9 -5.9
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.2 39 42 5.8 -5.0
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.2 18 63 6.5 -4.3
EFG iShares MSCI EAFE Growth ETF 0.1 36 45 3.6 -7.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.1 45 36 7.4 -3.3
FNX First Trust Mid Cap Core AlphaDEX Fund 0.1 60 21 5.9 -4.9
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 74 6.7 -4.0
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.1 41 40 6.4 -4.4
VXUS Vanguard Total International Stock ETF 0.1 5 76 6.8 -4.0
ACWX iShares MSCI ACWI ex U.S. ETF 0.1 34 47 6.4 -4.3
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.1 20 61 4.8 -5.9
QINT American Century Quality Diversified International ETF 0.1 39 42 6.1 -4.6
VEU Vanguard FTSE All-World ex-US Index Fund 0.1 4 77 6.8 -3.9
FAD First Trust Multi Cap Growth AlphaDEX Fund 0.1 64 17 0.9 -9.9
FENI Fidelity Enhanced International ETF 0.1 28 53 5.6 -5.2
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 0.1 45 36 6.0 -4.8
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 71 5.0 -5.8
GLOF iShares Global Equity Factor ETF 0.1 20 61 5.9 -4.8
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.1 49 32 6.1 -4.6
VIGI Vanguard International Dividend Appreciation ETF 0.1 10 71 5.7 -5.0
FNDC Schwab Fundamental International Small Co. Index ETF 0.1 39 42 5.2 -5.5
DISV Dimensional International Small Cap Value ETF 0.1 42 39 7.9 -2.8
QWLD SPDR MSCI World StrategicFactors ETF 0.1 30 51 5.1 -5.6
DLS WisdomTree International SmallCap Dividend Fund 0.1 58 23 7.2 -3.6
GWX SPDR S&P International Small Cap ETF 0.1 40 41 5.9 -4.9
EZU iShares MSCI Eurozone ETF 0.1 52 29 5.7 -5.1
ESGG FlexShares STOXX Global ESG Select Index Fund 0.1 42 39 4.7 -6.0
KOKU Xtrackers MSCI Kokusai Equity ETF 0.1 9 72 4.5 -6.2
TOK iShares MSCI Kokusai ETF 0.1 26 55 4.3 -6.4
URTH iShares MSCI World ETF 0.1 24 57 4.4 -6.3
AFSM First Trust Active Factor Small Cap ETF 0.1 75 6 6.5 -4.3
VT Vanguard Total World Stock ETF 0.1 6 75 5.1 -5.6
ACWI iShares MSCI ACWI ETF 0.0 32 49 4.7 -6.0
IQSI IQ Candriam International Equity ETF 0.0 15 66 5.6 -5.1
FESM Fidelity Enhanced Small Cap ETF 0.0 28 53 2.7 -8.0
INTF iShares International Equity Factor ETF 0.0 15 66 6.5 -4.2
FNDF Schwab Fundamental International Large Co. Index ETF 0.0 25 56 8.1 -2.6
DFIS Dimensional International Small Cap ETF 0.0 39 42 6.2 -4.6
NUSC Nuveen ESG Small-Cap ETF 0.0 31 50 4.5 -6.2
IWN iShares Russell 2000 Value ETF 0.0 24 57 5.7 -5.1
VTWV Vanguard Russell 2000 Value ETF 0.0 10 71 5.7 -5.0
EBI Longview Advantage ETF 0.0 35 46 5.8 -5.0
PFM Invesco Dividend Achievers ETF 0.0 53 28 4.6 -6.1
VYMI Vanguard International High Dividend Yield ETF 0.0 17 64 8.2 -2.6
DXIV Dimensional International Vector Equity ETF 0.0 34 47 6.6 -4.1
DFSI Dimensional International Sustainability Core 1 ETF 0.0 24 57 5.4 -5.3
DFIC Dimensional International Core Equity 2 ETF 0.0 23 58 6.3 -4.4
IWM iShares Russell 2000 ETF 0.0 19 62 3.1 -7.6
VTWO Vanguard Russell 2000 ETF 0.0 7 74 3.2 -7.5
AVDV Avantis International Small Cap Value ETF 0.0 36 45 7.6 -3.1
RSSL Global X Russell 2000 ETF 0.0 8 73 3.1 -7.6
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.0 30 51 6.6 -4.2
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.0 39 42 2.7 -8.1
DFAI Dimensional International Core Equity Market ETF 0.0 18 63 6.0 -4.7
VFH Vanguard Financials ETF 0.0 9 72 5.8 -5.0
IWV iShares Russell 3000 ETF 0.0 20 61 4.1 -6.7
VTHR Vanguard Russell 3000 ETF 0.0 7 74 4.2 -6.5
VTI Vanguard Total Stock Market ETF 0.0 3 78 4.2 -6.5
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 0.0 40 41 6.4 -4.4
FNCL Fidelity MSCI Financials Index ETF 0.0 8 73 5.8 -5.0

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

  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 10.8 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 81 bp
Equals: ALTAR Score 10.7 %
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.