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ProShares S&P 500® ex-Financials ETF offers exposure to the S&P 500 Index, excluding Financials and Real Estate securities. Its expense ratio is 0.09% and the ETF has $58 million in assets. The strategy might be attractive to those looking to avoid a repeat of the Global Financial Crisis from 2007-2009. However, historical simulations suggest potential benefits would be negligible. The reason is because Financials and Real Estate comprise only about 17% of the S&P 500 Index today. Even with 20% underperformance, that equals just 3.4% in excess returns.
BETHESDA, Md.--(BUSINESS WIRE)--ProShares announced forward and reverse share splits on eleven of its ETFs.
Worried more banks will fall apart like Silicon Valley Bank and Signature Bank? ETFs can help protect you from risk in the S&P 500.
Beyond launches, the week featured new closures and changes to several existing funds.
BETHESDA, Md.--(BUSINESS WIRE)--ProShares, a premier provider of ETFs, announced that it has lowered the net expense ratio for its suite of S&P 500 Ex-Sector ETFs by 67% – from 27 to 9 basis points. The Ex-Sector ETFs allow investors to acquire the S&P 500 without an unwanted economic sector, including energy, financials, technology and health care. “With this fee reduction, we wanted to eliminate a possible obstacle for investors to access a strategy that could help them build better portfolios,” said ProShares CEO Michael L. Sapir. “ProShares Ex-Sector ETFs provide a cost-effective way to tailor the S&P 500 index to avoid overconcentration in a certain sector or a sector expected to underperform.” Launched in September 2015, the ProShares S&P 500 Ex-Sector ETFs include: Ticker Fund Index Old Expense Ratio New Expense Ratio* SPXE S&P 500 Ex-Energy ETF S&P 500 Ex-Energy Index 0.27% 0.09% SPXN S&P 500 Ex-Financials ETF S&P 500 Ex-Financials & Real Estate Index 0.27% 0.09% SPXV S&P 500 Ex-Health Care ETF S&P 500 Ex-Health Care Index 0.27% 0.09% SPXT S&P 500 Ex-Technology ETF S&P 500 Ex-Information Technology Index 0.27% 0.09% * With Contractual Waiver ending 9/30/23. ProShares S&P 500 Ex-Sector ETFs allow investors to reduce or eliminate exposure to a sector they believe may underperform. Alternatively, an investor might already have enough exposure to a sector through work or other holdings and can use these ETFs to avoid that sector. Prior to the introduction of Ex-Sectors, investors would need to purchase, monitor and rebalance a portfolio of sector ETFs to create the portfolio available as a single Ex-Sector ETF. All four ETFs are traded on NYSE Arca. SPXE and SPXN earned an Overall Morningstar Rating of 5 stars, and SPXV earned an Overall Morningstar Rating of 4 stars, in the U.S. Large Blend Category as of December 31, 2021. About the Indexes Each S&P 500 Ex-Sector Index seeks to provide exposure to the companies of the S&P 500 except those in the specific sector excluded. The S&P 500 is a measure of large-cap U.S. stock market performance. It is a float-adjusted, market capitalization weighted index of 500 U.S. operating companies and real estate investment trusts selected through a process that factors in criteria such as liquidity, price, market capitalization and financial viability. The indexes market-cap weight each component security according to the same rules as the S&P 500. They classify each company in the S&P 500 using S&P’s Global Industry Classification Standards (“S&P GICS”). The following sectors are included within the S&P GICS: consumer discretionary, consumer staples, energy, financials, health care, industrials, information technology, materials, telecommunication services and utilities. The portion represented by the excluded sector is redistributed among the remaining S&P 500 companies on a pro rata basis. About ProShares ProShares has been at the forefront of the ETF revolution since 2006. ProShares now offers one of the largest lineups of ETFs, with more than $65 billion in assets. The company is the leader in strategies such as dividend growth, interest rate hedged bond and geared (leveraged and inverse) ETF investing. ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns. Investing involves risk, including the possible loss of principal. These ProShares ETFs are subject to certain risks, including the risk that the funds may not track the performance of the indexes and that the funds’ market prices may fluctuate, which may decrease performance. Please see summary and full prospectuses for a more complete description of risks. There is no guarantee any ProShares ETF will achieve its investment objective. These funds are exposed to the stocks of large-cap companies, which tend to go through cycles of outperformance or underperformance lasting up to several years relative to other segments of the stock market. As a result, large-cap returns may trail the returns of the overall stock market or other market segments. Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing. The "S&P 500 Ex-Energy Index," "S&P 500 Ex-Financials & Real Estate Index," "S&P 500 Ex-Health Care Index," and "S&P 500 Ex-Information Technology Index" are products of S&P Dow Jones Indices LLC and its affiliates and have been licensed for use by ProShares. "S&P®" is a registered trademark of Standard & Poor's Financial Services LLC ("S&P") and "Dow Jones®" is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones") and have been licensed for use by S&P Dow Jones Indices LLC and its affiliates. ProShares have not been passed on by S&P Dow Jones Indices LLC and its affiliates as to their legality or suitability. ProShares based on these indexes are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates, and they make no representation regarding the advisability of investing in ProShares. THESE ENTITIES AND THEIR AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES. Star rating is © 2022 Morningstar, Inc. All Rights Reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. The Morningstar RatingTM for funds, or “star rating," is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange traded funds and open-ended mutual funds are considered a single population for comparative purposes. Star ratings are calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the bottom 10% receive one star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five- and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. SPXE, SPXV and SPXN were rated against the following numbers of U.S.-domiciled Large Blend funds for the following time periods: 1244 for the last three years and 1109 for the last five years, ending 12/31/21. With respect to these Large Blend funds, SPXE received a Morningstar Rating of 4 stars for the three-year period and 5 stars for the five-year period. SPXN received 4 stars for the three-year period and 5 stars for the five-year period. SPXV received 4 stars for the three-year period and 4 stars for the five-year period. Past performance is no guarantee of future results. ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds' advisor. ©2022 PSA PR-2022-3752772.2
BETHESDA, Md.--(BUSINESS WIRE)--ProShares announced upcoming benchmark changes and liquidations for some of its ETFs. Benchmark methodology changes S&P Dow Jones Indices is changing the methodology of its GICS sector structure. It is creating a new GICS real estate sector, elevating the sector from an industry group within the GICS financials sector. As a result, the Financial Select Sector Index will drop real estate companies. This change will be implemented after the close of business on September 16, 2016. As a result of this methodology change, the following ETFs will be rebalanced to exclude real estate: Also as a result of the GICS methodology change, the name of the benchmark tracked by the S&P 500 Ex-Financials ETF (SPXN) will change, although the index constituents and SPXN’s portfolio will remain the same: Benchmark changes The benchmark for ProShares Ultra FTSE Europe (UPV) and ProShares UltraShort FTSE Europe (EPV) will change as detailed below. This change will be implemented by September 1, 2016. Fund liquidations In addition, ProShares plans to close and liquidate the following ETFs: After the close of business on August 25, 2016, the funds will no longer accept creation orders and liquidation of the funds’ holdings will begin. Trading in the funds will be halted prior to market open on August 26. Beginning on August 26, the funds will not be traded on NYSE Arca and there will be no secondary market for the shares. Once the funds are in the process of liquidating their portfolios, they will not be managed in accordance with their investment objectives. Proceeds of the liquidation of UCD and CMD are scheduled to be distributed to shareholders on or about September 1, 2016. Proceeds of the other ETF liquidations are scheduled to be distributed on or about September 15, 2016. About ProShares ProShares helps investors to go beyond the limitations of conventional investing and face today's market challenges. ProShares strives to help investors build better portfolios by providing access to a wide variety of investment exposures and strategies delivered with the liquidity, transparency and cost effectiveness of ETFs. Our wide array of ETFs can help you reduce volatility, manage risk and enhance returns. Investing involves risk, including the possible loss of principal. ProShares ETFs are generally non-diversified and each entails certain risks, which may include risk associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance. Short positions lose value as security prices increase. Leverage can increase market exposure and magnify investment risk. International investments may also involve risk from unfavorable fluctuations in currency values, differences in generally accepted accounting principles, and from economic or political instability. Narrowly focused investments typically exhibit higher volatility. These risks can increase volatility and decrease performance. Please see their summary and full prospectuses for a more complete description of risks. There is no guarantee any ProShares ETF will achieve its investment objective. Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing. UCD and CMD are part of ProShares Trust II, a commodity pool as defined in the Commodity Exchange Act and the applicable regulations of the CFTC. ProShare Capital Management LLC is the Trust Sponsor and commodity pool operator (CPO). The Sponsor is registered as a CPO with the CFTC, and is a member of the NFA. Neither of these ETFs nor ProShares Trust II is an investment company regulated under the Investment Company Act of 1940 and neither is afforded its protections. Investing in ETFs involves a substantial risk of loss. These funds generate a K-1 tax form. This information must be accompanied or preceded by a current ProShares Trust II prospectus (http://www.proshares.com/funds/trust_ii_prospectuses.html). ProShares Trust II (the issuer) has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at sec.gov. Alternatively, the issuer will arrange to send you the prospectus if you request it by calling 866.776.5125, or visit ProShares.com. "FTSE®" and "FTSE Developed Europe" have been licensed for use by ProShares. FTSE is a trademark of the London Stock Exchange Plc and The Financial Times Limited and is used by the FTSE International Limited ("FTSE") under license. The "S&P Financial Select Sector Index" and the "S&P 500 Ex-Financials Index" are products of S&P Dow Jones Indices LLC and its affiliates and have been licensed for use by ProShares. "S&P®" is a registered trademark of Standard & Poor's Financial Services LLC ("S&P") and "Dow Jones®" is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones") and have been licensed for use by S&P Dow Jones Indices LLC and its affiliates. ProShares have not been passed on by these entities or their subsidiaries or affiliates as to their legality or suitability. ProShares are not sponsored, endorsed, sold or promoted by these entities or their subsidiaries or affiliates, and they make no representation regarding the advisability of investing in ProShares. THESE ENTITIES AND THEIR SUBSIDIARIES AND AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES. ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds' advisor or sponsor.
BETHESDA, Md.--(BUSINESS WIRE)--ProShares, a premier provider of ETFs, today launched a suite of four S&P 500 Ex-Sector ETFs. Each offers the S&P 500® without exposure to a sector: energy, financials, technology or health care. “S&P 500 ETFs force you to invest in a sector you might already have a desired level of exposure to or you may want to avoid,” said Michael L. Sapir, co-founder and CEO of ProShare Advisors, LLC, the advisor to ProShares. “Now, for the first time, you can invest in an S&P 500 ETF and leave behind the sector you don’t want.” ProShares S&P 500 Ex-Sector ETFs allow investors to reduce or eliminate exposure to a sector they believe may underperform. For example, over the 12 months through the end of August, the energy sector underperformed the S&P 500 by over 30 percentage points.1 Alternatively, an investor might already have enough exposure to a sector through work or other holdings and can use these ETFs to avoid that sector. ProShares S&P 500 Ex-Sector ETFs include: S&P 500 Ex-Energy ETF SPXE S&P 500 Ex-Financials ETF SPXN S&P 500 Ex-Health Care ETF SPXV S&P 500 Ex-Technology ETF SPXT NYSE Arca About the Indexes: Each S&P 500 Ex-Sector Index seeks to provide exposure to the companies of the S&P 500 except those in the specific sector excluded. The S&P 500 is a measure of large-cap U.S. stock market performance. It is a float-adjusted, market capitalization-weighted index of 500 U.S. operating companies and real estate investment trusts selected through a process that factors in criteria such as liquidity, price, market capitalization and financial viability. The indexes market-cap weight each component security according to the same rules as the S&P 500. They classify each company in the S&P 500 using S&P’s Global Industry Classification Standards (“S&P GICS”). The following sectors are included within S&P GICS: consumer discretionary, consumer staples, energy, financials, health care, industrials, information technology, materials, telecommunication services and utilities. The portion represented by the excluded sector is redistributed among remaining S&P 500 companies on a pro rata basis. About ProShares ProShares helps investors to go beyond the limitations of conventional investing and face today's market challenges. ProShares strives to help investors build better portfolios by providing access to a wide variety of investment exposures and strategies delivered with the liquidity, transparency and cost effectiveness of ETFs. ProShares' wide array of ETFs can help you reduce volatility, manage risk and enhance returns. Investing involves risk, including the possible loss of principal. These ProShares ETFs are diversified and entail certain risks, including imperfect benchmark correlation and market price variance, that may decrease performance. Please see summary and full prospectuses for a more complete description of risks. There is no guarantee any ProShares ETF will achieve its investment objective. These funds are exposed to the stocks of large-cap companies, which tend to go through cycles of outperformance or underperformance lasting up to several years relative to other segments of the stock market. As a result, large-cap returns may trail the returns of the overall stock market. Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing. The "S&P 500 Ex-Energy Index," "S&P 500 Ex-Financials Index," "S&P 500 Ex-Health Care Index," and "S&P 500 Ex-Information Technology & Telecommunication Services Index" are products of S&P Dow Jones Indices LLC and its affiliates and have been licensed for use by ProShares. "S&P" is a registered trademark of Standard & Poor’s Financial Services LLC ("S&P") and “Dow Jones" is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones") and have been licensed for use by S&P Dow Jones Indices LLC and its affiliates. ProShares have not been passed on by S&P Dow Jones Indices LLC and its affiliates as to their legality or suitability. ProShares based on these indexes are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates, and they make no representation regarding the advisability of investing in ProShares. THESE ENTITIES AND THEIR AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES. ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds' advisor. 1 Source: Bloomberg.