ProShares S&P 500 Ex-Health Care ETF
ALTAR
Score™
6.8% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
16.4x P/Sales
ratio
1.9x
P/BV
ratio
2.5x Div.
yield
2.5%


  • 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 443
Wgt avg mkt cap (mns) $319,594
Large cap (>$10bn) 96.1%
Mid cap ($2-10bn) 3.8%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSOFT CORP 6.6 %
APPLE INC 5.9 %
AMAZON.COM INC 4.4 %
FACEBOOK 2.2 %
BERKSHIRE HATHAWAY INC-CL B 2.0 %
ALPHABET INC. CLASS C 1.9 %
ALPHABET INC. CLASS A 1.9 %
JPMORGAN CHASE & CO 1.6 %
PROCTER & GAMBLE CO/THE 1.5 %
VISA INC-CLASS A SHARES 1.5 %
Total 29.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.8 %
IRELAND 1.3 %
BRITAIN 1.1 %
SWITZERLAND 0.5 %
BERMUDA 0.0 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-20.7% -8.2% -- -- 8.8%

Market Correlations
versus... Beta R-squared
S&P500 1.05 99%
MSCI EAFE 0.97 82%
MSCI Emg. Mkts. 0.71 64%

Technical Indicators
Recent close $51.78
30d moving avg. $57.43
Annualized volatility 16.0%
Short interest (ETF) 7.4%
Relative strength (RSI) 35

Liquidity measures
Avg. volume (thou.) 1
Turnover 2.9%
Bid/Ask (% of price) 1.06%
ADV underlying (mns) $269,268

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 6.8%


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
(%)
HSPX Global X S&P 500 Covered Call ETF 91.6 65 -38 6.2 -0.6
PBP Invesco S&P 500 BuyWrite ETF 90.8 49 -22 6.5 -0.3
SPY SPDR S&P 500 ETF Trust 84.3 9 18 7.1 +0.3
SPLG SPDR Portfolio Large Cap ETF 84.2 3 24 7.1 +0.3
IVV iShares Core S&P 500 ETF 84.1 4 23 7.1 +0.3
VOO VANGUARD S&P 500 ETF 83.8 3 24 7.1 +0.3
SPXE ProShares S&P 500 Ex-Energy ETF 83.8 27 0 7.0 +0.2
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 83.7 20 7 7.1 +0.3
MGC Vanguard Mega Cap Index Fund 83.1 7 20 6.8 +0.0
SPXN ProShares S&P 500 Ex-Financials ETF 81.6 27 0 6.6 -0.2
VV Vanguard Large-Cap Index Fund 81.2 4 23 7.0 +0.2
IWL iShares Russell Top 200 ETF 80.8 15 12 6.6 -0.2
BBUS JP Morgan Betabuilders U.S. Equity ETF 79.9 2 25 7.1 +0.3
CATH Global X S&P 500 Catholic Values Custom ETF 79.3 29 -2 7.0 +0.2
PBUS Invesco PureBeta MSCI USA ETF 78.6 4 23 7.2 +0.4
SCHX Schwab U.S. Large-Cap ETF 78.1 3 24 7.0 +0.2
SPTM SPDR Portfolio Total Stock Market ETF 77.6 3 24 7.3 +0.5
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 77.1 20 7 6.6 -0.2
VONE Vanguard Russell 1000 ETF 76.7 8 19 7.0 +0.2
SFY SoFi Select 500 ETF 76.3 0 27 6.7 -0.1
IWB iShares Russell 1000 ETF 76.2 15 12 7.0 +0.2
SCHK Schwab 1000 Index ETF 75.7 5 22 7.0 +0.2
SNPE Xtrackers S&P 500 ESG ETF 75.1 11 16 6.8 +0.1
IYY iShares Dow Jones U.S. ETF 75.0 20 7 6.9 +0.1
VTHR Vanguard Russell 3000 Index Fund 72.3 10 17 6.9 +0.2
SCHB Schwab U.S. Broad Market ETF 72.1 3 24 7.0 +0.2
ITOT iShares Core S&P Total U.S. Stock Market ETF 71.8 3 24 7.0 +0.2
IWV iShares Russell 3000 ETF 71.7 20 7 6.9 +0.1
VTI Vanguard Total Stock Market Index Fund 71.5 3 24 7.0 +0.2
MMTM SPDR S&P 1500 Momentum Tilt ETF 71.5 12 15 6.7 -0.1
ESGV Vanguard ESG U.S. Stock ETF 71.5 12 15 7.0 +0.2
IQSU IQ Candriam ESG US Equity ETF 70.1 9 18 6.7 -0.1
SPXT ProShares S&P 500 Ex-Technology ETF 69.6 27 0 7.3 +0.5
EPS WisdomTree U.S. Earnings 500 Fund 68.4 8 19 8.5 +1.7
VOOG Vanguard S&P 500 Growth ETF 67.5 10 17 5.7 -1.1
SPYG SPDR Portfolio S&P 500 Growth ETF 67.5 4 23 5.8 -1.0
IVW iShares S&P 500 Growth ETF 67.5 18 9 5.6 -1.2
JHML John Hancock Multifactor Large Cap ETF 66.6 34 -7 7.5 +0.7
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 66.5 9 18 7.3 +0.5
IUSG iShares Core S&P US Growth ETF 66.3 4 23 5.8 -1.0
ESGU iShares MSCI USA ESG Optimized ETF 66.0 15 12 6.7 -0.1
OEF iShares S&P 100 ETF 65.5 20 7 6.3 -0.5
FNDX Schwab Fundamental U.S. Large Co. Index ETF 64.1 25 2 8.3 +1.5
FNDB Schwab Fundamental U.S. Broad Market Index ETF 61.5 25 2 8.4 +1.6
QUS SPDR MSCI USA StrategicFactors ETF 60.4 15 12 7.3 +0.5
IUS Invesco Strategic US ETF 60.4 19 8 7.9 +1.1
PRF Invesco FTSE RAFI US 1000 ETF 60.2 39 -12 9.2 +2.4
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 60.2 25 2 8.6 +1.8
AVUS Avantis U.S. Equity ETF 60.0 15 12 8.0 +1.2
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 60.0 15 12 6.9 +0.2
ESG FlexShares STOXX US ESG Impact Index Fund 59.5 32 -5 6.8 -0.0
VLU SPDR S&P 1500 Value Tilt ETF 59.4 12 15 9.6 +2.8
IWF iShares Russell 1000 Growth ETF 59.0 19 8 5.7 -1.1
VONG Vanguard Russell 1000 Growth Index Fund 59.0 8 19 5.8 -1.0
DLN WisdomTree U.S. LargeCap Dividend Fund 59.0 28 -1 8.0 +1.2
DTD WisdomTree U.S.Total Dividend Fund 58.7 28 -1 8.5 +1.7
DIVB iShares U.S. Dividend & Buyback ETF 58.2 25 2 8.8 +2.0
XOUT GraniteShares XOUT U.S. Large Cap ETF 57.4 60 -33 6.0 -0.8
RWL Invesco S&P 500 Revenue ETF 57.1 39 -12 9.2 +2.4
VUG Vanguard Growth Index Fund 56.3 4 23 5.5 -1.3
TOK iShares MSCI Kokusai ETF 56.2 25 2 7.3 +0.6
VEGN US Vegan Climate ETF 55.6 60 -33 7.1 +0.3
SCHG Schwab U.S. Large-Cap Growth ETF 54.9 4 23 5.6 -1.2
RECS Columbia Research Enhanced Core ETF 54.8 15 12 7.5 +0.7
DSI iShares MSCI KLD 400 Social ETF 54.8 25 2 6.7 -0.1
NACP Impact Shares NAACP Minority Empowerment ETF 54.7 75 -48 6.2 -0.6
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 54.5 29 -2 5.6 -1.2
XLG Invesco S&P 500 Top 50 ETF 53.9 20 7 5.9 -0.9
SPYV SPDR Portfolio S&P 500 Value ETF 52.3 4 23 9.2 +2.4
IVE iShares S&P 500 Value ETF 52.3 18 9 9.1 +2.3
IWY iShares Russell Top 200 Growth ETF 52.2 20 7 5.5 -1.3
VOOV Vanguard S&P 500 Value ETF 52.1 15 12 9.2 +2.4
URTH iShares MSCI World ETF 51.7 24 3 7.5 +0.7
IUSV iShares Core S&P U.S. Value ETF 51.2 4 23 9.4 +2.6
SUSL iShares ESG MSCI USA Leaders ETF 50.7 10 17 6.9 +0.2
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 50.5 10 17 6.9 +0.2
DGRO iShares Core Dividend Growth ETF 50.4 8 19 8.4 +1.6
MGK Vanguard Mega Cap Growth ETF 50.2 7 20 5.6 -1.2
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 49.9 49 -22 5.5 -1.3
EXT WisdomTree U.S. Total Earnings Fund 49.7 28 -1 7.7 +0.9
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 49.6 75 -48 5.0 -1.8
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 49.5 29 -2 8.2 +1.4
ESGG FlexShares STOXX Global ESG Impact Index Fund 49.1 42 -15 7.2 +0.4
WOMN Impact Shares YWCA Women's Empowerment ETF 48.9 75 -48 6.2 -0.6
DYNF BlackRock U.S. Equity Factor Rotation ETF 48.8 30 -3 8.1 +1.3
RSP Invesco S&P 500 Equal Weight ETF 47.8 20 7 8.8 +2.0
IWD iShares Russell 1000 Value ETF 47.6 19 8 9.1 +2.4
VONV Vanguard Russell 1000 Value Index Fund 47.4 8 19 9.3 +2.5
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 47.1 19 8 7.6 +0.8
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 46.7 12 15 6.3 -0.5
IETC iShares Evolved U.S. Technology ETF 45.7 18 9 5.4 -1.4
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 45.4 9 18 8.1 +1.3
AFLG First Trust Active Factor Large Cap ETF 45.2 55 -28 7.7 +0.9
FDMO Fidelity Momentum Factor ETF 45.1 29 -2 5.5 -1.3
EQWL Invesco Russell Top 200 Equal Weight ETF 45.1 25 2 7.5 +0.7
ACWI iShares MSCI ACWI ETF 45.1 32 -5 7.8 +1.0
FVAL Fidelity Value Factor ETF 44.8 29 -2 11.0 +4.2
QWLD SPDR MSCI World StrategicFactors ETF 44.7 30 -3 7.5 +0.7
SCHV Schwab U.S. Large-Cap Value ETF 44.6 4 23 9.0 +2.2
FQAL Fidelity Quality Factor ETF 44.4 29 -2 7.0 +0.3

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 17.1 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 27 bp
Equals: ALTAR Score 6.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.43 CATEGORY
AVERAGE
1.51
 
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.