MAKX
ProShares S&P Kensho Smart Factories ETF
MAKX tracks a modified equal-weighted index of US-listed firms that enable the digitalization of manufacturing.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
1.0 M
ASSETS UNDER MGMT
58 bp
EXPENSES
Fund Basics
| Fund sponsor | ProShares |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 29, 2021 |
| Assets (mns) | $1 |
| Expense ratio | 58 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| OUSTER, INC. | 8.0 % |
| AUTODESK INC | 6.4 % |
| COGNEX CORP | 6.1 % |
| EMERSON ELECTRIC CO | 5.9 % |
| ROCKWELL AUTOMATION INC | 5.7 % |
| ASPEN TECHNOLOGY, INC. | 5.5 % |
| 3D SYSTEMS CORP | 5.3 % |
| TOWER SEMICONDUCTOR LTD | 4.8 % |
| SK TELECOM CO., LTD. SPONSORED ADR | 4.7 % |
| SANMINA CORP | 4.4 % |
Constituent Breakdown
| Number of holdings | 23 |
| Herfindahl-Hirschman Index | 493 |
| Wgt avg mkt cap (mns) | $23,813 |
| Large cap (>$10bn) | 51.3% |
| Mid cap ($2-10bn) | 31.9% |
| Small cap (<$2bn) | 16.9% |
| Developed mkts. | 89.7% |
| Emerging mkts. | 10.3% |
Country Exposure
 |
UNITED STATES | 84.6 % |
 |
SOUTH KOREA | 8.2 % |
 |
ISRAEL | 4.8 % |
 |
TURKEY | 2.2 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -1.4% | 26.3% | 12.7% | -- | -- | -- | -3.0% | Volatility | 22.6% | 23.2% | 24.2% | 26.9% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.35 | 69% |
| MSCI EAFE | 1.25 | 59% |
| MSCI Emg Mkts | 1.05 | 42% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.57% |
| ADV of underlying (mns) | $3,274 |
Technical Indicators
| Recent close | $40.27 |
| 30d moving avg. | $37.62 |
| Annualized volatility | 28.9% |
| Relative strength (RSI) | 51 |
| Short interest (ETF) | 2.7% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. MAKX |
Expenses vs. MAKX |
ALTAR Score™ vs. MAKX |
|---|---|---|---|---|
| BULD | Pacer BlueStar Engineering the Future ETF | 28.7% | +2 bp | +1.0% |
| IBOT | Vaneck Robotics ETF | 20.1% | -11 bp | +3.4% |
| PRNT | 3D Printing ETF | 19.0% | +8 bp | -0.1% |
| ROBO | ROBO Global Robotics & Automation Index ETF | 12.9% | +37 bp | +2.7% |
| RSHO | Tema American Reshoring ETF | 11.9% | +17 bp | +2.6% |
| MGRO | VanEck Morningstar Wide Moat Growth ETF | 10.1% | -9 bp | +4.0% |
Risk and Returns: MAKX vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/15/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
MAKX
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
MAKX
0.8%
Cat. Avg
5.5%
ALTAR Score™ Calculation
Category Overview
There are 973 funds in the US Equity category, with an average ALTAR Score™
of 5.5% and a standard deviation of
2.4%. MAKX's ALTAR Score™ is approximately
1.9 standard deviations
below
the category average. This places MAKX in the 3rd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
MAKXSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| MAKX (58 bp) Percentile rank | 64 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| MAKX | 58.0 | 56.5 | 114.5 |
| Peer Avg. | 46.6 | 16.9 | 63.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .