SPXN
ProShares S&P 500 Ex-Financials ETF
The ProShares S&P 500 Ex-Financials ETF tracks a market cap-weighted index of US large- and midcap stocks (the S&P 500), excluding firms in the financial sector.
US
EQUITY
Passive
MANAGEMENT STYLE
60.3 M
ASSETS UNDER MGMT
9 bp
EXPENSES
Fund Basics
| Fund sponsor | ProShares |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 22, 2015 |
| Assets (mns) | $60 |
| Expense ratio | 9 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Committee |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| MICROSOFT CORP | 8.1 % |
| APPLE INC | 8.1 % |
| NVIDIA CORP | 7.2 % |
| AMAZON.COM INC | 4.3 % |
| META PLATFORMS INC | 2.6 % |
| ALPHABET INC. CLASS A | 2.5 % |
| ALPHABET INC. CLASS C | 2.1 % |
| BROADCOM INC. | 1.7 % |
| ELI LILLY & CO | 1.7 % |
| TESLA MOTORS INC | 1.6 % |
Constituent Breakdown
| Number of holdings | 402 |
| Herfindahl-Hirschman Index | 250 |
| Wgt avg mkt cap (mns) | $978,134 |
| Large cap (>$10bn) | 99.3% |
| Mid cap ($2-10bn) | 0.4% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 96.9 % |
 |
IRELAND | 1.6 % |
 |
BRITAIN | 0.7 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -39.8% | -31.6% | -12.2% | -13.0% | 0.9% | -- | 6.6% | Volatility | 13.5% | 13.0% | 14.3% | 17.7% | 20.6% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.26 | 39% |
| MSCI EAFE | 1.00 | 26% |
| MSCI Emg Mkts | 0.64 | 10% |
Liquidity Measures
| Avg. volume (000) | 1 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.10% |
| ADV of underlying (mns) | $291,784 |
Technical Indicators
| Recent close | $63.47 |
| 30d moving avg. | $62.03 |
| Annualized volatility | 35.1% |
| Relative strength (RSI) | 51 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 1.4% |
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. SPXN |
Expenses vs. SPXN |
ALTAR Score™ vs. SPXN |
|---|---|---|---|---|
| SPXE | ProShares S&P 500 Ex-Energy ETF | 83.8% | 0 bp | -0.2% |
| IVV | iShares Core S&P 500 ETF | 82.7% | -6 bp | 0.0% |
| VOO | Vanguard S&P 500 ETF | 82.7% | -6 bp | -0.1% |
| SPY | SPDR S&P 500 ETF Trust | 82.6% | +0 bp | -0.1% |
| SPLG | SPDR Portfolio S&P 500 ETF | 82.6% | -7 bp | 0.0% |
| GSUS | Goldman Sachs MarketBeta U.S. Equity ETF | 82.6% | -2 bp | -0.1% |
| SPXV | ProShares S&P 500 Ex-Health Care ETF | 82.3% | 0 bp | -0.4% |
| SPYX | SPDR S&P 500 Fossil Fuel Reserves Free ETF | 82.2% | +11 bp | -0.3% |
| VOTE | TCW Transform 500 ETF | 81.9% | -4 bp | -0.1% |
| BBUS | JP Morgan Betabuilders U.S. Equity ETF | 81.3% | -7 bp | -0.1% |
Risk and Returns: SPXN 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 11/21/2024
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
SPXN
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
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™
SPXN
5.0%
Cat. Avg
5.4%
ALTAR Score™ Calculation
Category Overview
There are 973 funds in the US Equity category, with an average ALTAR Score™
of 5.4% and a standard deviation of
2.4%. SPXN's ALTAR Score™ is approximately
0.1 standard deviations
below
the category average. This places SPXN in the 44th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
SPXNSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive US Equity ETFs |
| # of ETFs | 192 |
| Avg. Expense Ratio | 31.0 bp |
| Std. Deviation | 25.7 bp |
| SPXN (9 bp) Percentile rank | 19 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| SPXN | 9.0 | 9.6 | 18.6 |
| Peer Avg. | 26.7 | 10.4 | 37.2 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .