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ProShares High Yield-Interest Rate Hedged

ETF
HYHG
Payout Change
Pending
Price as of:
$64.2295 +0.2 +0.3%
primary theme
Bond Sector Diversified
HYHG (ETF)

ProShares High Yield-Interest Rate Hedged

Payout Change
Pending
Price as of:
$64.2295 +0.2 +0.3%
primary theme
Bond Sector Diversified
HYHG (ETF)

ProShares High Yield-Interest Rate Hedged

Payout Change
Pending
Price as of:
$64.2295 +0.2 +0.3%
primary theme
Bond Sector Diversified

Name

As of 04/23/2024

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

ProShares High Yield-Interest Rate Hedged

HYHG | ETF

$64.23

$134 M

6.74%

$4.33

0.50%

Vitals

YTD Return

3.8%

1 yr return

15.0%

3 Yr Avg Return

6.5%

5 Yr Avg Return

5.0%

Net Assets

$134 M

Holdings in Top 10

10.4%

52 WEEK LOW AND HIGH

$64.0
$58.14
$64.34

Expenses

OPERATING FEES

Expense Ratio 0.50%

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 04/23/2024

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

ProShares High Yield-Interest Rate Hedged

HYHG | ETF

$64.23

$134 M

6.74%

$4.33

0.50%

HYHG - Profile

Distributions

  • YTD Total Return 3.8%
  • 3 Yr Annualized Total Return 6.5%
  • 5 Yr Annualized Total Return 5.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 4.83%
DIVIDENDS
  • Dividend Yield 6.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    ProShares High Yield-Interest Rate Hedged
  • Fund Family Name
    ProShares Trust
  • Inception Date
    May 21, 2013
  • Shares Outstanding
    2400001
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Alexander Ilyasov

Fund Description

The Fund invests in financial instruments that ProShare Advisors believes, in combination, should track the performance of the Index.The Index is comprised of (a) long positions in USD-denominated high yield corporate bonds (“high yield bonds”) and (b) short positions in U.S. Treasury notes or bonds (“Treasury Securities”) of, in aggregate, approximate equivalent duration to the high yield bonds. The Index is constructed and maintained by FTSE International Limited. By taking these short Treasury Securities positions, the Index seeks to mitigate the negative impact of rising Treasury interest rates (“interest rates”) on the performance of high yield bonds (conversely limiting the positive impact of falling interest rates). The short positions are not intended to mitigate other factors influencing the price of high yield bonds, such as credit risk, which may have a greater impact than rising or falling interest rates. The long high yield bond positions included in the Index are designed to represent the more liquid universe of high yield bonds offered within the United States. Currently, the bonds eligible for inclusion in the Index include high yield bonds that are issued by companies domiciled in the U.S. and Canada, and that: are fixed rate and non-convertible (including callable bonds); have a maximum rating of Ba1/BB+ and minimum rating of Ca/C by both Moody’s Investors Service, Inc. (“Moody’s”) and Standard and Poor’s Financial Services, LLC (“S&P”); and are subject to minimum issue outstanding, minimum time-to-maturity and maximum time from issuance criteria. Pay-in-kind bonds are excluded. No more than two issues from each issuer are allowed, and no more than two percent (2%) of the Index may be allocated to any single issuer. The Index is reconstituted and rebalanced (including a reset of the interest rate hedge) on a monthly basis. Relative to a long-only investment in the same high yield bonds, the Index is designed to outperform in a rising interest rate environment and underperform in a falling or static interest rate environment. Performance of the Index may be particularly poor in risk-averse, flight-to-quality environments when it is common for high yield bonds to decline in value and for interest rates to fall. In addition, the performance of the Index, and by extension the Fund, depends on many factors beyond rising or falling interest rates, such as the perceived level of credit risk in the high yield bond positions. These factors may be as or more important to the performance of the Index than the impact of interest rates. As such, there is no guarantee that the Index, and accordingly, the Fund, will have positive performance even in environments of sharply rising interest rates. The Index is published under the Bloomberg ticker symbol “CFIIHYHG.”Under normal circumstances, the Fund will invest at least 80% of its total assets in high-yield bonds included in the Index.The Fund will invest principally in the financial instruments listed below.•Debt Instruments — The Fund invests in debt instruments, primarily high yield bonds, that are issued by corporate issuers that are rated below “investment-grade” by both Moody’s and S&P. Credit rating agencies evaluate issuers and assign ratings based on their opinions of the issuer’s ability to pay interest and principal as scheduled. Those issuers with a greater risk of default — not paying interest or principal in a timely manner — are rated below investment grade. Such debt instruments may include Rule 144A securities, which generally are restricted securities that are only available to “qualified” investors.•Derivatives — Financial instruments whose value is derived from the value of an underlying asset or assets, such as stocks, bonds, ETFs, interest rates or indexes. The Fund primarily invests in derivatives as a substitute for obtaining short exposure in U.S. Treasury Securities but may also do so to a limited extent to obtain high yield bond exposure. These derivatives principally include:○Futures Contracts — Standardized contracts that obligate the parties to buy or sell an asset at a predetermined price and date in the future. The Fund will use futures contracts to obtain short exposure to U.S. Treasury Securities.ProShare Advisors uses a mathematical approach to investing in which it determines the type, quantity and mix of investment positions that it believes, in combination, the Fund should hold to produce returns consistent with its investment objective. The Fund seeks to remain fully invested at all times in financial instruments that, in combination, provide exposure consistent with the investment objective, without regard to market conditions, trends or direction. However, 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 consistent with the investmentobjective.Please see“Investment Objectives,Principal Investment Strategies and Related Risks”in the Fund’s Prospectus for additionaldetails.
Read More

HYHG - Performance

Return Ranking - Trailing

Period HYHG Return Category Return Low Category Return High Rank in Category (%)
YTD 3.8% -12.9% 7.9% 4.97%
1 Yr 15.0% -10.4% 22.6% 1.09%
3 Yr 6.5%* -17.7% 18.1% 1.47%
5 Yr 5.0%* -13.6% 14.7% 3.02%
10 Yr 3.5%* -13.6% 6.5% 6.23%

* Annualized

Return Ranking - Calendar

Period HYHG Return Category Return Low Category Return High Rank in Category (%)
2023 7.7% -12.0% 15.7% 1.55%
2022 -6.9% -31.8% 18.4% 19.71%
2021 1.0% -26.6% 25.7% 9.03%
2020 -5.1% -49.2% 18.7% 89.88%
2019 5.4% -35.1% 15.3% 40.08%

Total Return Ranking - Trailing

Period HYHG Return Category Return Low Category Return High Rank in Category (%)
YTD 3.8% -12.9% 7.9% 4.97%
1 Yr 15.0% -10.4% 22.6% 1.09%
3 Yr 6.5%* -17.7% 18.1% 1.47%
5 Yr 5.0%* -13.6% 14.7% 3.02%
10 Yr 3.5%* -13.6% 6.5% 6.23%

* Annualized

Total Return Ranking - Calendar

Period HYHG Return Category Return Low Category Return High Rank in Category (%)
2023 14.7% -7.0% 22.2% 1.71%
2022 -1.7% -31.8% 21.1% 9.22%
2021 5.7% -13.5% 49.9% 8.21%
2020 0.2% -28.6% 24.1% 86.15%
2019 12.0% -4.8% 19.1% 16.41%

HYHG - Holdings

Concentration Analysis

HYHG Category Low Category High HYHG % Rank
Net Assets 134 M 2.53 M 143 B 80.40%
Number of Holdings 227 4 9868 68.65%
Net Assets in Top 10 12.5 M -1.57 B 65.8 B 93.15%
Weighting of Top 10 10.45% 0.7% 170.6% 92.57%

Top 10 Holdings

  1. Organon Co. 1.41%
  2. INVESCO GOVERNMENT AGENCY PORTFOLIO OPEN-END FUND USD 1.09%
  3. Directv Financing LLC 1.07%
  4. Cloud Software Group, Inc. 1.05%
  5. Caesars Entertainment, Inc. 1.00%
  6. TransDigm, Inc. 1.00%
  7. Bombardier, Inc. 0.99%
  8. Cloud Software Group, Inc. 0.95%
  9. Venture Global LNG, Inc. 0.95%
  10. DISH DBS Corp. 0.94%

Asset Allocation

Weighting Return Low Return High HYHG % Rank
Bonds 		95.55% -150.81% 203.29% 26.33%
Cash 		3.42% -94.66% 258.91% 49.32%
Convertible Bonds 		1.82% 0.00% 33.50% 42.97%
Other 		1.02% -62.91% 100.00% 61.04%
Stocks 		0.00% -1.60% 99.88% 95.43%
Preferred Stocks 		0.00% 0.00% 30.46% 93.76%

Bond Sector Breakdown

Weighting Return Low Return High HYHG % Rank
Corporate 		50.07% 0.00% 96.66% 32.97%
Cash & Equivalents 		1.09% 0.00% 88.14% 73.89%
Securitized 		0.00% 0.00% 99.65% 99.06%
Municipal 		0.00% 0.00% 54.26% 92.15%
Government 		0.00% 0.00% 99.43% 98.90%
Derivative 		-0.34% -62.91% 37.37% 76.79%

Bond Geographic Breakdown

Weighting Return Low Return High HYHG % Rank
US 		95.55% -151.11% 203.29% 19.94%
Non US 		0.00% 0.00% 67.77% 94.67%

HYHG - Expenses

Operational Fees

HYHG Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.50% 0.01% 20.67% 96.05%
Management Fee 0.50% 0.00% 2.29% 26.74%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.70% N/A

Sales Fees

HYHG Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

HYHG Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

HYHG Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 632.00% 17.52%

HYHG - Distributions

Dividend Yield Analysis

HYHG Category Low Category High HYHG % Rank
Dividend Yield 6.74% 0.00% 23.30% 18.10%

Dividend Distribution Analysis

HYHG Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

HYHG Category Low Category High HYHG % Rank
Net Income Ratio 4.83% -1.55% 11.51% 10.36%

Capital Gain Distribution Analysis

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

Distributions History

View More +

HYHG - Fund Manager Analysis

Managers

Alexander Ilyasov

Start Date

Tenure

Tenure Rank

Apr 05, 2019

3.16

3.2%

Alexander Ilyasov, ProShare Advisors: Senior Portfolio Manager since October 2013 and Portfolio Manager from November 2009 through September 2013. ProFund Advisors LLC: Senior Portfolio Manager since October 2013 and Portfolio Manager from November 2009 through September 2013. World Asset Management, Inc.: Portfolio Manager from January 2006 through November 2009. Ilyasov joined WAM’s predecessor entity in September 2005 as a member of its International Investment Team. Since joining in 2005, he has been involved in supporting WAM’s international equity product line.

James Linneman

Start Date

Tenure

Tenure Rank

Mar 15, 2022

0.21

0.2%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.72 3.19

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