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Trending ETFs

ProShares Trust - ProShares Morningstar Alternatives Solution ETF

ETF
ALTS
Payout Change
Suspended
Price as of:
$ +0.0 +0.0%
primary theme
N/A
ALTS (ETF)

ProShares Trust - ProShares Morningstar Alternatives Solution ETF

Payout Change
Suspended
Price as of:
$ +0.0 +0.0%
primary theme
N/A
ALTS (ETF)

ProShares Trust - ProShares Morningstar Alternatives Solution ETF

Payout Change
Suspended
Price as of:
$ +0.0 +0.0%
primary theme
N/A

Name

As of 05/03/2022

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Vitals

YTD Return

N/A

1 yr return

N/A

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$8.5 M

Holdings in Top 10

105.1%

52 WEEK LOW AND HIGH

N/A
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.81%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 05/03/2022

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

ALTS - Profile

Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    ProShares Trust - ProShares Morningstar Alternatives Solution ETF
  • Fund Family Name
    ProShares Trust
  • Inception Date
    Oct 08, 2014
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Neches

Fund Description

The Fund invests in ETFs that ProShare Advisors believes, in combination, should track the performance of the Index.The Fund is a fund of ETFs and seeks to achieve its investment objective by investing primarily in the “Underlying ETFs,” which are ETFs, sponsored by ProShare Advisors or its affiliates.The Fund is designed to provide investors with a comprehensive solution to their alternatives allocation by investing in the alternative ETFs (i.e., ETFs that invest in alternative asset classes or that have non-traditional investment strategies) comprising its Index.The Index is designed to provide diversified exposure to alternative asset classes when combined with a range of traditional investments. It allocates among a comprehensive set of alternative ETFs that employ alternative and non-traditional strategies such as long/short, market neutral, managed futures, hedge fund replication, private equity, infrastructure, or inflation related investments.The Index allocates weights to the Underlying ETFs based on a proprietary optimization model. The model annually calculates the allocation to each Underlying ETF based on the improvement in portfolio risk/return characteristics each Underlying ETF may provide to a traditional stock and bond portfolio. In addition, at each monthly rebalance, the Index applies a tactical momentum signal designed to increase the allocations towards asset classes that exhibited positive relative trends over the prior six months.As of June 30, 2021, the Underlying ETFs included: ProShares Managed Futures Strategy ETF, ProShares Hedge Replication ETF, ProShares Merger ETF, ProShares RAFI Long/Short, ProShares Global Listed Private Equity ETF, ProShares DJ Brookfield Global Infrastructure ETF, and ProShares Inflation Expectations ETF. A brief description of each of these Underlying ETFs follows.ProShares Managed Futures Strategy ETF (FUT) is an actively managed ETF that seeks to achieve positive returns that are not directly correlated to broad equity or fixed income markets. The Fund uses the S&P® Strategic Futures Index as a performance benchmark. The S&P®Strategic Futures Index was developed by Standard & Poors and is a long/short rules-based investable index that seeks to capture the economic benefit from trends (in either direction) in physical commodities, interest rates and currencies by taking long or short positions in related futures contracts based on the performance trends of the individual components.ProShares Hedge Replication ETF (HDG) seeks investment results, before fees and expenses, that track the performance of the Merrill Lynch Factor Model — Exchange Series (“Factor Model”). The Factor Model, established by Merrill Lynch International (the “Model Sponsor”), seeks to provide the risk and return characteristics of the hedge fund asset class by targeting a high correlation to the HFRI Fund Weighted Composite Index (the “HFRI”).ProShares Merger ETF (MRGR) seeks investment results, before fees and expenses, that track the performance of the S&P® Merger Arbitrage Index (“Merger Arbitrage Index”). The Merger Arbitrage Index is designed to provide exposure to a global merger arbitrage strategy. A global merger arbitrage strategy seeks to capture the spread between the price at which the stock of a company (each such company, a “Target”) trades after a proposed acquisition of such Target is announced and the value (cash plus stock) that the acquiring company (the “Acquirer”) has proposed to pay for the stock of the Target.ProShares RAFITM Long/Short (RALS) seeks investment results, before fees and expenses, that track the performance of the FTSE RAFITM US 1000 Long/Short Total Return Index (“RAFI Index”). The RAFI Index methodology seeks to leverage a theory that index weighting based on market capitalization (i.e., price) results in overweighting of overpriced securities and underweighting of underpriced securities. By obtaining long exposure to a non-capitalization weighted “fundamental” index and short exposure to a market capitalization weighted index in an equal dollar amount, the Index seeks to deliver the difference in performance (outperformance or underperformance) between the fundamentally weighted index and the market capitalization weighted index. In general, when fundamental weighting is outperforming capitalization weighting, the RAFI Index, expects to have positive performance. When capitalization weighting is outperforming fundamental weighting, the RAFI Index and Fund expect to have negative performance.ProShares Global Listed Private Equity ETF (PEX) seeks investment results, before fees and expenses, that track the performance of the LPX Direct Listed Private Equity Index (“LPX Index”). The LPX index consists of up to 30 qualifying listed private equity companies whose direct private equity investments, as well as cash and cash equivalent positions and post-initial public offering listed investments, represent more than 80% of the total assets of the company.ProShares DJ Brookfield Global Infrastructure ETF (TOLZ)seeks investment results, before fees and expenses, that track the performance of the Dow Jones Brookfield Global Infrastructure Composite Index (“Global Infrastructure Index”). The Global Infrastructure Index, constructed and maintained by S&P Dow Jones Indices LLC, consists of companies domiciled globally that qualify as “pure-play” infrastructure companies — companies whose primary business is the ownership and operation of infrastructure assets, activities that generally generate long-term stable cash flows.ProShares Inflation Expectations ETF (RINF) seeks investment results, before fees and expenses, that track the performance of the FTSE 30-Year TIPS (Treasury Rate-Hedged) Index (the “FTSE Index”) and will invest at least 80% of its total assets in securities of the FTSE Index. The FTSE Index tracks the performance of (i) long positions in the most recently issued 30-year Treasury Inflation-Protected Securities (“TIPS”) and (ii) duration-adjusted short positions in U.S. Treasury bonds of, in aggregate, approximate equivalent duration dollars to the TIPS. The FTSE Index is not designed to measure the realized rate of inflation, nor does it seek to replicate the returns of any index or measure of actual consumer price levels.The Index is constructed and maintained by Morningstar, Inc., using the asset allocation expertise of its affiliate, Ibbotson Associates, Inc., a division of Morningstar Investment Management Group. The Index is published under the Bloomberg ticker symbol “DIVALTT”.For a further description of the Fund, please see “Additional Securities, Instruments and Strategies of ProShares Morningstar Alternatives Solution ETF” in the Fund’s Prospectus. Under normal circumstances, the Fund will invest at least 80% of its total assets in Underlying ETFs.The Fund will invest principally in the financial instruments set forth below.Exchange-Traded Funds — The Fund may invest in shares of other ETFs, which are registered investment companies that are traded on stock exchanges and hold assets such as stocks or bonds.ProShare Advisors uses a mathematical approach to investing. Using this approach, ProShare Advisors determines the type, quantity and mix of investment positions that it believes, in combination, the Fund should hold to produce returns consistent with the Fund’s investment objective. The Fund may invest in or gain exposure to only a representative sample of the securities in the Index or to securities not contained in the Index or in financial instruments, with the intent of obtaining exposure with aggregate characteristics similar to those of the Index. In managing the assets of the Fund, ProShare Advisors does not invest the assets of the Fund in securities or financial instruments based on ProShare Advisors’ view of the investment merit of a particular security, instrument, or company, nor does it conduct conventional investment research or analysis or forecast market movement or trends. The Fund seeks to remain fully invested at all times in securities and/or financial instruments that, in combination, provide exposure to the returns of the Index without regard to market conditions, trends or direction.The Fund will concentrate (i.e., invest in securities that represent 25 percent or more of the value of the Index) or focus (i.e., invest in securities that represent a substantial portion of its value, but less than 25 percent) its investments in a particular industry or group of industries to approximately the same extent the Index is so concentrated or focused. As of May 31, 2021, the Index was not concentrated in an industry group.Please see “Investment Objectives, Principal Investment Strategies and Related Risks” in the Fund’s Prospectus for additional details.
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ALTS - Performance

Return Ranking - Trailing

Period ALTS Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -73.0% 19.4% 13.26%
1 Yr N/A -9.1% 86.9% 21.09%
3 Yr N/A* -9.5% 16.2% 60.24%
5 Yr N/A* -4.9% 14.4% 72.20%
10 Yr N/A* -0.9% 7.5% N/A

* Annualized

Return Ranking - Calendar

Period ALTS Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -22.7% 305.1% 75.93%
2022 N/A -9.8% 27.3% 49.60%
2021 N/A -20.8% 10.9% 30.22%
2020 N/A -12.4% 29.4% 92.57%
2019 N/A -10.5% 15.8% 49.21%

Total Return Ranking - Trailing

Period ALTS Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -73.0% 19.4% 12.19%
1 Yr N/A -13.4% 86.9% 19.64%
3 Yr N/A* -9.5% 16.2% 54.22%
5 Yr N/A* -5.3% 14.4% 65.92%
10 Yr N/A* -0.9% 7.5% N/A

* Annualized

Total Return Ranking - Calendar

Period ALTS Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -22.7% 305.1% 75.93%
2022 N/A -9.8% 27.3% 50.00%
2021 N/A -20.8% 10.9% 42.22%
2020 N/A -8.4% 29.4% 97.03%
2019 N/A -10.2% 18.0% 57.59%

ALTS - Holdings

Concentration Analysis

ALTS Category Low Category High ALTS % Rank
Net Assets 8.5 M 1.5 M 5.01 B 95.57%
Number of Holdings 12 4 4478 98.59%
Net Assets in Top 10 8.81 M -398 M 2.55 B 82.33%
Weighting of Top 10 105.08% 13.1% 100.0% 4.13%

Top 10 Holdings

  1. ProShares Merger ETF 21.55%
  2. ProShares DJ Brookfield Global Infrastructure ETF 19.30%
  3. ProShares Hedge Replication ETF 15.49%
  4. ProShares Inflation Expectations ETF 13.95%
  5. ProShares Global Listed Private Equity ETF 11.84%
  6. ProShares Managed Futures Strategy ETF 9.43%
  7. ProShares RAFI Long/Short 8.39%
  8. BLACKROCK LIQUIDITY FEDFUND OPEN-END FUND USD 4.94%
  9. Repurchase Agreement 0.17%
  10. Repurchase Agreement 0.02%

Asset Allocation

Weighting Return Low Return High ALTS % Rank
Cash
4.94% -6278.21% 410.43% 73.50%
Other
0.23% -21.53% 148.54% 43.46%
Stocks
0.00% -3.75% 97.95% 2.12%
Preferred Stocks
0.00% -0.12% 46.97% 38.16%
Convertible Bonds
0.00% 0.00% 87.92% 96.82%
Bonds
0.00% -326.45% 6347.80% 71.38%

ALTS - Expenses

Operational Fees

ALTS Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.81% 0.29% 31.15% 79.14%
Management Fee 0.07% 0.00% 2.50% 1.41%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.30% N/A

Sales Fees

ALTS Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

ALTS Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

ALTS Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 491.00% 34.68%

ALTS - Distributions

Dividend Yield Analysis

ALTS Category Low Category High ALTS % Rank
Dividend Yield 0.00% 0.00% 4.56% 3.53%

Dividend Distribution Analysis

ALTS Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Quarterly Annually

Net Income Ratio Analysis

ALTS Category Low Category High ALTS % Rank
Net Income Ratio N/A -2.51% 6.83% 9.35%

Capital Gain Distribution Analysis

ALTS Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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ALTS - Fund Manager Analysis

Managers

Michael Neches


Start Date

Tenure

Tenure Rank

Oct 07, 2014

7.57

7.6%

Michael Neches joined ProShare Advisors in 2000, and presently serves as a Senior Portfolio Manager. He previously served as the Senior Portfolio Manager responsible for the company’s commodities desk for two years, as a Portfolio Manager and team lead, as an Associate Portfolio Manager and as a Portfolio Analyst. Mr. Neches earned a Bachelor of Science in Finance from the University of Maryland, College Park and an MBA from Georgetown University.

Devin Sullivan


Start Date

Tenure

Tenure Rank

Apr 30, 2018

4.0

4.0%

Devin Sullivan is Portfolio Manager at ProShare Advisors since September 2016 and Associate Portfolio Manager from December 2011 to August 2016.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 17.37 4.48 1.67