ProShares S&P 500 Ex-Health Care ETF
ALTAR
Score™
4.3% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
30.9x P/Sales
ratio
3.4x
P/BV
ratio
4.2x Div.
yield
1.5%


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

FUND BASICS
Category US Equities
Fund Sponsor ProShares
Website www.proshares.com
Inception date Sep 22, 2015
Assets (mns) $2
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 440
Wgt avg mkt cap (mns) $563,322
Large cap (>$10bn) 98.7%
Mid cap ($2-10bn) 1.3%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 7.9 %
MICROSOFT CORP 6.1 %
AMAZON.COM INC 5.1 %
FACEBOOK 2.4 %
TESLA MOTORS INC 2.3 %
ALPHABET INC. CLASS A 2.1 %
ALPHABET INC. CLASS C 2.0 %
BERKSHIRE HATHAWAY INC-CL B 1.6 %
JPMORGAN CHASE & CO 1.5 %
VISA INC-CLASS A SHARES 1.2 %
Total 32.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.5 %
IRELAND 1.1 %
BRITAIN 1.1 %
SWITZERLAND 0.5 %
BERMUDA 0.0 %






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.
19.0% 19.0% 15.5% -- 16.2%

Market Correlations
versus... Beta R-squared
S&P500 1.05 99%
MSCI EAFE 0.97 85%
MSCI Emg. Mkts. 0.77 67%

Technical Indicators
Recent close $80.42
30d moving avg. $78.42
Annualized volatility 19.7%
Short interest (ETF) 13.2%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.41%
ADV underlying (mns) $231,085

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the ProShares S&P 500 Ex-Health Care ETF ETF based on the alternatives' overlap in portfolio holdings with SPXV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SPXV Expense: 27 bp ALTAR Score™: 4.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SPXV
Ticker Fund
Name
Overlap1
vs SPXV
(%)
Expense
ratio
(bp)
Savings
vs SPXV
(bp)
ALTAR
Score™
(%)
ALTAR
vs SPXV
(%)
PBP Invesco S&P 500 BuyWrite ETF 88.5 49 -22 4.3 +0.1
XYLG Global X S&P 500 Covered Call & Growth ETF 87.0 60 -33 4.4 +0.1
SPY SPDR S&P 500 ETF Trust 85.7 9 18 4.7 +0.4
SPLG SPDR Portfolio Large Cap ETF 85.6 3 24 4.7 +0.5
IVV iShares Core S&P 500 ETF 85.5 3 24 4.7 +0.5
SPXE ProShares S&P 500 Ex-Energy ETF 85.2 27 0 4.6 +0.3
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 85.0 20 7 4.8 +0.5
XVV iShares ESG Screened S&P 500 ETF 84.5 8 19 4.9 +0.6
VOO VANGUARD S&P 500 ETF 83.8 3 24 4.8 +0.6
SPXN ProShares S&P 500 Ex-Financials ETF 83.4 27 0 4.4 +0.1
MGC Vanguard Mega Cap Index Fund 83.0 7 20 4.6 +0.3
ESGV Vanguard ESG U.S. Stock ETF 82.8 12 15 4.5 +0.2
CATH Global X S&P 500 Catholic Values Custom ETF 81.3 29 -2 4.6 +0.3
IWL iShares Russell Top 200 ETF 81.1 15 12 4.4 +0.1
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 80.9 7 20 4.5 +0.3
BKLC BNY Mellon US Large Cap Core Equity ETF 80.7 0 27 4.5 +0.2
BBUS JP Morgan Betabuilders U.S. Equity ETF 79.6 2 25 4.6 +0.4
VV Vanguard Large-Cap Index Fund 79.4 4 23 4.6 +0.3
PBUS Invesco PureBeta MSCI USA ETF 79.2 4 23 4.6 +0.3
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 78.1 20 7 4.6 +0.3
SPTM SPDR Portfolio Total Stock Market ETF 78.0 3 24 4.8 +0.5
SCHX Schwab U.S. Large-Cap ETF 77.5 3 24 4.6 +0.3
SCHK Schwab 1000 Index ETF 75.7 5 22 4.6 +0.3
IWB iShares Russell 1000 ETF 75.4 15 12 4.5 +0.2
IYY iShares Dow Jones U.S. ETF 74.7 20 7 4.4 +0.1
VTHR Vanguard Russell 3000 Index Fund 73.0 10 17 4.4 +0.1
SNPE Xtrackers S&P 500 ESG ETF 72.1 10 17 4.6 +0.3
EFIV SPDR S&P 500 ESG ETF 72.1 10 17 4.6 +0.3
ESGU iShares MSCI USA ESG Optimized ETF 71.6 15 12 4.4 +0.2
IWV iShares Russell 3000 ETF 70.2 20 7 4.3 +0.0
SCHB Schwab U.S. Broad Market ETF 70.2 3 24 4.5 +0.2
IQSU IQ Candriam ESG US Equity ETF 69.8 9 18 4.5 +0.2
ITOT iShares Core S&P Total U.S. Stock Market ETF 69.7 3 24 4.4 +0.1
MMTM SPDR S&P 1500 Momentum Tilt ETF 69.0 12 15 4.0 -0.3
VONE Vanguard Russell 1000 ETF 68.9 8 19 4.6 +0.3
DFAU Dimensional US Core Equity Market ETF 68.3 12 15 4.7 +0.4
JCTR JPMorgan Carbon Transition U.S. Equity ETF 68.2 15 12 4.7 +0.4
SFY SoFi Select 500 ETF 68.1 0 27 4.6 +0.3
VTI Vanguard Total Stock Market Index Fund 67.9 3 24 4.4 +0.1
SPXT ProShares S&P 500 Ex-Technology ETF 67.3 27 0 4.9 +0.6
OEF iShares S&P 100 ETF 67.1 20 7 4.2 -0.1
JHML John Hancock Multifactor Large Cap ETF 65.5 29 -2 4.9 +0.6
EPS WisdomTree U.S. Earnings 500 Fund 63.8 8 19 5.9 +1.6
XOUT GraniteShares XOUT U.S. Large Cap ETF 63.6 60 -33 3.6 -0.7
VOOG Vanguard S&P 500 Growth ETF 63.5 10 17 3.9 -0.4
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 63.3 9 18 4.8 +0.5
SPYG SPDR Portfolio S&P 500 Growth ETF 62.8 4 23 3.7 -0.6
IVW iShares S&P 500 Growth ETF 62.7 18 9 3.5 -0.8
ESG FlexShares STOXX US ESG Impact Index Fund 62.1 32 -5 4.5 +0.2
IUSG iShares Core S&P US Growth ETF 61.7 4 23 3.7 -0.6
QUS SPDR MSCI USA StrategicFactors ETF 59.4 15 12 5.3 +1.0
FNDX Schwab Fundamental U.S. Large Co. Index ETF 58.7 25 2 5.8 +1.5
DIVB iShares U.S. Dividend & Buyback ETF 58.0 25 2 5.9 +1.6
PRF Invesco FTSE RAFI US 1000 ETF 57.9 39 -12 5.8 +1.5
AVUS Avantis U.S. Equity ETF 57.7 15 12 4.8 +0.5
VOOV Vanguard S&P 500 Value ETF 57.5 10 17 6.6 +2.3
VUG Vanguard Growth Index Fund 57.1 4 23 3.5 -0.8
KOKU Xtrackers MSCI Kokusai Equity ETF 56.5 9 18 5.0 +0.8
TOK iShares MSCI Kokusai ETF 56.5 25 2 4.9 +0.6
IWF iShares Russell 1000 Growth ETF 56.0 19 8 3.4 -0.8
FNDB Schwab Fundamental U.S. Broad Market Index ETF 56.0 25 2 5.7 +1.4
VONG Vanguard Russell 1000 Growth Index Fund 55.7 8 19 3.5 -0.7
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 55.5 15 12 5.8 +1.5
IVE iShares S&P 500 Value ETF 55.2 18 9 6.3 +2.0
SPYV SPDR Portfolio S&P 500 Value ETF 55.2 4 23 6.4 +2.2
IUS Invesco Strategic US ETF 54.8 19 8 5.5 +1.2
DSI iShares MSCI KLD 400 Social ETF 54.7 25 2 4.6 +0.3
RWL Invesco S&P 500 Revenue ETF 54.6 39 -12 6.2 +2.0
DYNF BlackRock U.S. Equity Factor Rotation ETF 54.4 30 -3 5.2 +1.0
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 54.3 25 2 4.9 +0.6
IUSV iShares Core S&P U.S. Value ETF 54.0 4 23 6.4 +2.2
XLG Invesco S&P 500 Top 50 ETF 52.8 20 7 4.1 -0.2
HIPR Direxion High Growth ETF 52.5 40 -13 3.8 -0.5
SCHV Schwab U.S. Large-Cap Value ETF 52.5 4 23 6.1 +1.8
VLU SPDR S&P 1500 Value Tilt ETF 52.4 12 15 6.1 +1.9
URTH iShares MSCI World ETF 52.3 24 3 5.0 +0.7
IWY iShares Russell Top 200 Growth ETF 51.9 20 7 3.6 -0.7
NACP Impact Shares NAACP Minority Empowerment ETF 51.6 49 -22 4.7 +0.4
VONV Vanguard Russell 1000 Value Index Fund 51.6 8 19 6.1 +1.9
MGK Vanguard Mega Cap Growth ETF 51.3 7 20 3.7 -0.6
DLN WisdomTree U.S. LargeCap Dividend Fund 51.2 28 -1 6.2 +1.9
IWD iShares Russell 1000 Value ETF 51.1 19 8 6.0 +1.8
DTD WisdomTree U.S.Total Dividend Fund 49.7 28 -1 6.3 +2.0
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 49.7 49 -22 3.4 -0.9
ESGG FlexShares STOXX Global ESG Impact Index Fund 49.6 42 -15 4.6 +0.3
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 49.3 30 -3 5.0 +0.8
VEGN US Vegan Climate ETF 48.7 60 -33 3.9 -0.3
RECS Columbia Research Enhanced Core ETF 48.6 15 12 5.1 +0.8
SUSL iShares ESG MSCI USA Leaders ETF 48.6 10 17 4.8 +0.6
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 48.6 10 17 4.8 +0.6
RESP WisdomTree US ESG Fund of Benef Interest 48.6 28 -1 5.1 +0.8
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 48.4 21 6 2.9 -1.4
WOMN Impact Shares YWCA Women's Empowerment ETF 47.5 75 -48 3.5 -0.8
IETC iShares Evolved U.S. Technology ETF 47.4 18 9 3.4 -0.9
SUSA iShares MSCI USA ESG Select ETF 47.4 25 2 4.2 -0.0
KRMA Global X Conscious Companies ETF 47.3 43 -16 4.8 +0.6
TMFC Motley Fool 100 Index ETF 46.5 50 -23 3.0 -1.3
SCHG Schwab U.S. Large-Cap Growth ETF 46.5 4 23 3.2 -1.1

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-Health Care 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 17.4 %
Divided by: Fwd. P/BV 3.8 x
Less: Expense ratio 27 bp
Equals: ALTAR Score 4.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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