![]() Index information does not reflect any management fees, transaction costs or expenses. For standardized returns and performance data current to the most recent month end, see above. Current performance may be lower or higher than the performance quoted. Your brokerage commissions will reduce returns. ET (when NAV is normally determined for most funds) and do not represent the returns you would receive if you traded shares at other times. Market price returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the fund. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. The performance quoted represents past performance and does not guarantee future results. For specific tax advice, we recommend you speak with a qualified tax professional. Registered Investment Companies are required by the IRS to distribute substantially all of their income and capital gains to shareholders at least annually. ![]() ![]() ProShares may invest in financial instruments (including derivatives) that, in combination, should have daily price return characteristics similar to the fund's benchmark. The short portion of the index is rebalanced monthly and reconstituted annually.Ĭlick here to learn more about the index. In addition, a retailer must have a market capitalization of at least $500 million, a six-month daily average value traded of at least $1 million, and meet other requirements. Retailers in the 50% short portion of the index must be characterized as receiving at least 50% of its revenue from retail operations receive 75% or more of its retail revenues from in-store sales and be a U.S. The long portion of the index is rebalanced monthly and reconstituted annually. companies will be capped at 25% of the value of the index. When the index is rebalanced, it is weighted so that no company may exceed 24% of the value of the index, the sum of companies individually weighing more than 4.5% may not exceed 50% of the value of the index, and the total weight of all non-U.S. To be eligible, retailers must: be classified as an online retailer, an e-commerce retailer, or an internet or direct marketing retailer, according to standard industry classification systems have a market capitalization of at least $500 million and have a six-month daily average value traded of at least $1 million and meet other requirements. Retailers in the 100% long portion of the index include U.S. It is 100% long the ProShares Online Retail Index, which tracks retailers that primarily sell online or through other non-store channels, and 50% short the Solactive-ProShares Bricks and Mortar Retail Store Index that brings together traditional in-store retailers. The ProShares Long Online/Short Stores Index combines two specialized retail indexes into one. SOLACTIVE-PROSHARES B&M RETAIL INDEX SWAP BNP PARI RETAIL STORE INDEX SWAP GOLDMAN SACHS INTERNATIONAL SOLACTIVE-PROSHARES BRICKS AND MORTAR RETAIL STORE INDEX SWAP SOCIETE GENERALE SOLACTIVE-PROSHARES BRICKS AND MORTAR RETAIL STORE INDEX SWAP GOLDMAN SACHS INTERNATIONAL PROSHARES ONLINE RETAIL INDEX SWAP GOLDMAN SACHS INTERNATIONAL ![]() PROSHARES ONLINE RETAIL INDEX SWAP UBS AG E PROSHARES ONLINE RETAIL INDEX SWAP BNP PARIBAS GOLDMAN SACHS INTERNATIONAL PROSHARES ONLINE RETAIL INDEX SWAP SOCIETE GENERALE A potential advantage is that the long and short positions may offset one another, resulting in a lower net exposure to the direction of the market. The ProShares Long Online/Short Stores Index combines a 100% long position in retailers that primarily sell online or through other non-store channels with a 50% short position in those that rely principally on revenue from physical stores. ![]() Over 80 major retailers have declared bankruptcy since 2015 and longstanding names like The Gap and Macy’s are struggling to remain viable. In general, profit margins and Return on Assets have been declining for years, currently approaching the lows of the Great Recession. Physical retailers are under immense pressure. It's predicted that, by the end of 2020, online retail may account for about 16% of global retail sales, leaving tremendous room for growth. E-commerce sales are growing at a rapid pace and undermining in-store retail as consumer habits change and shoppers move online. ![]()
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