ProShares S&P Technology Dividend Aristocrats
ALTAR
Score™
5.2% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
19.5x P/Sales
ratio
3.0x
P/BV
ratio
4.6x Div.
yield
2.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
TDV tracks an equal-weighted index of Technology stocks that have increased dividend payments annually for at least 7 years.

FUND BASICS
Category US Equities
Fund Sponsor ProShares
Website www.proshares.com
Inception date Nov 05, 2019
Assets (mns) $5
Currency USD
Expense ratio 45 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Equal
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 34
Wgt avg mkt cap (mns) $104,458
Large cap (>$10bn) 75.4%
Mid cap ($2-10bn) 15.9%
Small cap (<$2bn) 8.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
AVX CORP 3.5 %
HP INC. 3.4 %
MKS INSTRUMENTS INC 3.2 %
MASTERCARD INC-CLASS A 3.2 %
MICROSOFT CORP 3.1 %
ACCENTURE PLC-CL A 3.1 %
BROADCOM INC. 3.1 %
CASS INFORMATION SYSTEMS INC 3.1 %
CDK GLOBAL INC 3.1 %
JACK HENRY & ASSOCIATES INC 3.1 %
Total 31.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 90.7 %
IRELAND 3.1 %
SWITZERLAND 2.8 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-- -- -- -- 0.0%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $40.42
30d moving avg. $40.01
Annualized volatility 0.0%
Short interest (ETF) 0.0%
Relative strength (RSI)

Liquidity measures
Avg. volume (thou.) 2
Turnover 1.7%
Bid/Ask (% of price) 0.11%
ADV underlying (mns) $12,367

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the ProShares S&P Technology Dividend Aristocrats ETF based on the alternatives' overlap in portfolio holdings with TDV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: TDV Expense: 45 bp ALTAR Score™: 5.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH TDV
Ticker Fund
Name
Overlap1
vs TDV
(%)
Expense
ratio
(bp)
Savings
vs TDV
(bp)
ALTAR
Score™
(%)
ALTAR
vs TDV
(%)
RYT Invesco S&P Equal Weight Technology 34.8 40 5 6.4 +1.2
JHMT John Hancock Multifactor Technology 32.2 40 5 6.1 +0.8
XLK Technology Select Sector SPDR 29.7 13 32 5.6 +0.3
TDIV First Trust NASDAQ Technology Dividend 28.3 50 -5 6.7 +1.5
VGT Vanguard Info Tech ETF 27.9 10 35 5.4 +0.2
FTEC Fidelity MSCI Info Technology 27.8 8 37 5.5 +0.2
IXN iShares S&P Global Technology 25.9 46 -1 5.3 +0.1
QTEC First Trust NASDAQ 100 Tech 25.1 57 -12 6.0 +0.8
IGM iShares S&P N. American Technology 24.7 46 -1 4.6 -0.7
XNTK SPDR NYSE Technology 24.5 35 10 5.6 +0.4
SOXX iShares PHLX SOX Semiconductor 23.5 46 -1 6.1 +0.8
KOIN Innovation Shares NextGen Protocol 21.8 95 -50 4.7 -0.6
SMH VanEck Vectors Semiconductors 21.4 35 10 6.3 +1.0
IETC iShares Evolved U.S. Technology 21.2 18 27 4.8 -0.4
XSD SPDR S&P Semiconductors 20.1 35 10 5.0 -0.3
XTH SPDR S&P Technology Hardware 19.8 35 10 5.5 +0.3
FTXL First Trust Nasdaq Semiconductor 18.8 60 -15 6.4 +1.2
IYW iShares US Technology 18.4 42 3 5.2 -0.0
SPHQ Invesco S&P High Quality Portfolio 18.4 15 30 5.6 +0.4
PWB Invesco Dynamic Large Cap Growth 18.1 55 -10 4.2 -1.0

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
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 Technology Dividend Aristocrats
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 22.8 %
Divided by: Fwd. P/BV 4.0 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 5.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 CATEGORY
AVERAGE
1.56
 
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.