ProShares S&P 500 Ex-Financials ETF
ALTAR
Score™
4.7% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
28.5x P/Sales
ratio
2.7x
P/BV
ratio
4.7x Div.
yield
1.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The ProShares S&P 500 Ex-Financials ETF tracks a market cap-weighted index of US large- and midcap stocks (the S&P 500), excluding firms in the financial sector.

FUND BASICS
Category US Equities
Fund Sponsor ProShares
Website www.proshares.com
Inception date Sep 22, 2015
Assets (mns) $6
Currency USD
Expense ratio 27 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 408
Wgt avg mkt cap (mns) $495,448
Large cap (>$10bn) 98.2%
Mid cap ($2-10bn) 1.7%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 7.3 %
MICROSOFT CORP 6.2 %
AMAZON.COM INC 5.1 %
FACEBOOK 2.5 %
ALPHABET INC. CLASS A 2.0 %
ALPHABET INC. CLASS C 2.0 %
JOHNSON & JOHNSON 1.5 %
PROCTER & GAMBLE CO/THE 1.3 %
VISA INC-CLASS A SHARES 1.3 %
NVIDIA CORP 1.3 %
Total 30.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.1 %
IRELAND 1.8 %
BRITAIN 0.9 %
SWITZERLAND 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.
6.4% 13.6% 12.3% -- 14.0%

Market Correlations
versus... Beta R-squared
S&P500 0.99 99%
MSCI EAFE 0.99 83%
MSCI Emg. Mkts. 0.69 62%

Technical Indicators
Recent close $76.17
30d moving avg. $74.69
Annualized volatility 17.7%
Short interest (ETF) 0.2%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.27%
ADV underlying (mns) $160,301

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the ProShares S&P 500 Ex-Financials ETF ETF based on the alternatives' overlap in portfolio holdings with SPXN. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SPXN Expense: 27 bp ALTAR Score™: 4.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SPXN
Ticker Fund
Name
Overlap1
vs SPXN
(%)
Expense
ratio
(bp)
Savings
vs SPXN
(bp)
ALTAR
Score™
(%)
ALTAR
vs SPXN
(%)
PBP Invesco S&P 500 BuyWrite ETF 87.8 49 -22 4.7 +0.1
HSPX Global X S&P 500 Covered Call ETF 87.3 60 -33 4.6 -0.1
XYLG Global X S&P 500 Covered Call & Growth ETF 86.9 60 -33 4.7 -0.0
SPY SPDR S&P 500 ETF Trust 86.2 9 18 5.0 +0.4
SPLG SPDR Portfolio Large Cap ETF 86.2 3 24 5.1 +0.4
IVV iShares Core S&P 500 ETF 86.1 3 24 5.1 +0.4
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 86.0 20 7 5.0 +0.4
SPXE ProShares S&P 500 Ex-Energy ETF 85.8 27 0 5.0 +0.3
VOO VANGUARD S&P 500 ETF 84.8 3 24 5.1 +0.4
MGC Vanguard Mega Cap Index Fund 84.2 7 20 4.9 +0.2
SPXV ProShares S&P 500 Ex-Health Care ETF 83.1 27 0 4.7 +0.0
ESGV Vanguard ESG U.S. Stock ETF 82.9 12 15 4.8 +0.1
IWL iShares Russell Top 200 ETF 82.1 15 12 4.7 +0.0
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 81.4 7 20 4.9 +0.2
BKLC BNY Mellon US Large Cap Core Equity ETF 81.1 0 27 4.9 +0.2
BBUS JP Morgan Betabuilders U.S. Equity ETF 80.1 2 25 4.9 +0.3
PBUS Invesco PureBeta MSCI USA ETF 79.9 4 23 4.9 +0.2
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 79.4 20 7 4.7 0.0
SPTM SPDR Portfolio Total Stock Market ETF 78.9 3 24 5.2 +0.5
VV Vanguard Large-Cap Index Fund 78.4 4 23 4.9 +0.2
SCHX Schwab U.S. Large-Cap ETF 77.5 3 24 4.9 +0.2
SCHK Schwab 1000 Index ETF 75.6 5 22 4.9 +0.2
IWB iShares Russell 1000 ETF 75.6 15 12 4.8 +0.1
IYY iShares Dow Jones U.S. ETF 74.8 20 7 4.7 +0.1
CATH Global X S&P 500 Catholic Values Custom ETF 74.6 29 -2 4.8 +0.1
IQSU IQ Candriam ESG US Equity ETF 74.5 9 18 4.8 +0.1
SNPE Xtrackers S&P 500 ESG ETF 74.0 10 17 4.8 +0.1
EFIV SPDR S&P 500 ESG ETF 73.9 10 17 4.8 +0.1
MMTM SPDR S&P 1500 Momentum Tilt ETF 73.5 12 15 4.2 -0.5
VTHR Vanguard Russell 3000 Index Fund 73.1 10 17 4.7 +0.0
ESGU iShares MSCI USA ESG Optimized ETF 72.8 15 12 4.8 +0.1
VOOG Vanguard S&P 500 Growth ETF 72.5 10 17 4.2 -0.5
SPYG SPDR Portfolio S&P 500 Growth ETF 71.6 4 23 4.2 -0.5
IVW iShares S&P 500 Growth ETF 71.5 18 9 4.1 -0.6
IWV iShares Russell 3000 ETF 70.9 20 7 4.6 -0.0
SCHB Schwab U.S. Broad Market ETF 70.9 3 24 4.8 +0.1
ITOT iShares Core S&P Total U.S. Stock Market ETF 70.5 3 24 4.8 +0.1
IUSG iShares Core S&P US Growth ETF 70.2 4 23 4.2 -0.5
XOUT GraniteShares XOUT U.S. Large Cap ETF 69.3 60 -33 3.9 -0.8
VONE Vanguard Russell 1000 ETF 68.7 8 19 4.9 +0.2
EPS WisdomTree U.S. Earnings 500 Fund 68.7 8 19 6.1 +1.4
SFY SoFi Select 500 ETF 68.5 0 27 4.8 +0.2
VTI Vanguard Total Stock Market Index Fund 68.5 3 24 4.8 +0.1
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 68.1 9 18 5.3 +0.6
OEF iShares S&P 100 ETF 68.0 20 7 4.6 -0.1
SPXT ProShares S&P 500 Ex-Technology ETF 67.8 27 0 5.3 +0.6
JHML John Hancock Multifactor Large Cap ETF 65.4 29 -2 5.2 +0.5
ESG FlexShares STOXX US ESG Impact Index Fund 62.2 32 -5 4.8 +0.2
QUS SPDR MSCI USA StrategicFactors ETF 61.4 15 12 5.5 +0.9
IUS Invesco Strategic US ETF 61.3 19 8 5.9 +1.2
IWF iShares Russell 1000 Growth ETF 60.7 19 8 3.7 -1.0
VONG Vanguard Russell 1000 Growth Index Fund 60.4 8 19 3.8 -0.9
FNDX Schwab Fundamental U.S. Large Co. Index ETF 59.6 25 2 6.2 +1.5
AVUS Avantis U.S. Equity ETF 58.3 15 12 5.2 +0.6
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 57.8 15 12 6.0 +1.3
XLG Invesco S&P 500 Top 50 ETF 57.5 20 7 4.3 -0.3
VUG Vanguard Growth Index Fund 57.4 4 23 3.7 -0.9
KOKU Xtrackers MSCI Kokusai Equity ETF 57.0 9 18 5.3 +0.6
TOK iShares MSCI Kokusai ETF 56.9 25 2 5.2 +0.5
FNDB Schwab Fundamental U.S. Broad Market Index ETF 56.8 25 2 6.2 +1.5
PRF Invesco FTSE RAFI US 1000 ETF 56.8 39 -12 6.3 +1.6
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 56.7 49 -22 3.9 -0.7
IWY iShares Russell Top 200 Growth ETF 56.4 20 7 3.8 -0.9
DIVB iShares U.S. Dividend & Buyback ETF 55.6 25 2 6.4 +1.7
DYNF BlackRock U.S. Equity Factor Rotation ETF 55.0 30 -3 6.2 +1.5
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 54.7 25 2 5.8 +1.2
DLN WisdomTree U.S. LargeCap Dividend Fund 54.4 28 -1 6.1 +1.4
RECS Columbia Research Enhanced Core ETF 54.3 15 12 5.4 +0.7
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 53.9 29 -2 5.3 +0.6
DTD WisdomTree U.S.Total Dividend Fund 53.6 28 -1 6.3 +1.6
NACP Impact Shares NAACP Minority Empowerment ETF 53.5 75 -48 4.6 -0.1
DSI iShares MSCI KLD 400 Social ETF 53.5 25 2 4.9 +0.2
EXT WisdomTree U.S. Total Earnings Fund 52.6 28 -1 5.3 +0.6
URTH iShares MSCI World ETF 52.6 24 3 5.3 +0.6
MGK Vanguard Mega Cap Growth ETF 52.3 7 20 3.9 -0.8
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 52.1 19 8 5.6 +1.0
WOMN Impact Shares YWCA Women's Empowerment ETF 51.8 75 -48 3.9 -0.8
RWL Invesco S&P 500 Revenue ETF 50.9 39 -12 6.7 +2.0
AFLG First Trust Active Factor Large Cap ETF 50.7 55 -28 5.0 +0.3
VOOV Vanguard S&P 500 Value ETF 50.5 10 17 6.9 +2.2
SCHV Schwab U.S. Large-Cap Value ETF 50.4 4 23 6.4 +1.7
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 49.7 10 17 5.0 +0.4
SUSL iShares ESG MSCI USA Leaders ETF 49.7 10 17 5.0 +0.4
KRMA Global X Conscious Companies ETF 49.7 43 -16 4.9 +0.2
SPYV SPDR Portfolio S&P 500 Value ETF 49.5 4 23 6.9 +2.3
IVE iShares S&P 500 Value ETF 49.5 18 9 6.8 +2.1
VLU SPDR S&P 1500 Value Tilt ETF 49.3 12 15 6.7 +2.0
VONV Vanguard Russell 1000 Value Index Fund 49.3 8 19 6.6 +1.9
IWD iShares Russell 1000 Value ETF 49.1 19 8 6.4 +1.7
SCHG Schwab U.S. Large-Cap Growth ETF 48.5 4 23 3.4 -1.3
IUSV iShares Core S&P U.S. Value ETF 48.2 4 23 7.0 +2.3
ESGG FlexShares STOXX Global ESG Impact Index Fund 48.1 42 -15 4.9 +0.2
FQAL Fidelity Quality Factor ETF 47.2 29 -2 5.2 +0.5
TMFC Motley Fool 100 Index ETF 47.1 50 -23 3.3 -1.4
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 47.0 21 6 2.9 -1.8
FVAL Fidelity Value Factor ETF 46.3 29 -2 7.3 +2.7
ACWI iShares MSCI ACWI ETF 45.8 32 -5 5.5 +0.8
DGRO iShares Core Dividend Growth ETF 45.7 8 19 6.3 +1.7
QWLD SPDR MSCI World StrategicFactors ETF 45.7 30 -3 5.7 +1.0
VEGN US Vegan Climate ETF 45.6 60 -33 4.8 +0.1

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

  2015 2016 2017 2018 2019 2020E 2021E
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
  2019 2020E 2021E
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&P 500 Ex-Financials ETF
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 20.8 %
Divided by: Fwd. P/BV 4.2 x
Less: Expense ratio 27 bp
Equals: ALTAR Score 4.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.41 CATEGORY
AVERAGE
1.50
 
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.