Long Online/Short Stores ETF  - CLIX Long Online/Short Stores ETF

ProShares Long Online/Short Stores ETF seeks investment results, before fees and expenses, that correspond to the performance of the ProShares Long Online/Short Stores Index.

  • E-commerce sales are growing at a rapid pace and undermining in-store retail as consumer habits change and shoppers move online. As popular as they may seem now, online retailers like Amazon and Alibaba only account for about 10% of global retail sales, leaving tremendous room for growth.
  • Physical retailers are under immense pressure. Sales have been declining and profit margins are approaching lows not seen since the recession. Over 30 major retailers have declared bankruptcy in the past three years, and longstanding names like J.C. Penney and Macy’s are struggling to remain viable.
  • CLIX 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 physical stores. Investors have the opportunity to benefit from both outperforming online and underperforming physical retailers. 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.
  • Learn More about ProShares Retail Disruption ETFs.
  • Watch The Street interview with Simeon Hyman for more about the secular decline of bricks-and-mortar retailers.

Index/Benchmark Summary

The ProShares Long Online/Short Stores Index combines two specialized retail indexes into one. 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 positions are rebalanced monthly:

Retailers in the 100% long portion of the index include U.S. and non-U.S. companies. 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. 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. companies will be capped at 25% of the value of the index. The long portion of the index is rebalanced monthly and reconstituted annually.

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. company. 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. The short portion of the index is rebalanced monthly and reconstituted annually.

Click here to learn more about the Solactive-ProShares Bricks and Mortar Retail Store Index.

As of 3/29/18

Fundamentals

Total Number
of Companies
Price/Earnings
Ratio
Price/Book
Ratio
Average Index Market
Capitalization
Long Short Long Short Long Short Long Short
20 56 66.98 47.23 7.00 6.29 $73.11 billion $19.67 billion
Index Companies (Long) Weight
AMAZON.COM INC 24.29%
ALIBABA GROUP HOLDING-SP ADR 15.81%
ETSY INC 6.29%
SHUTTERFLY INC 4.94%
NETFLIX INC 4.88%
CHEGG INC 4.79%
GROUPON INC 4.64%
EBAY INC 4.35%
WAYFAIR INC- CLASS A 4.24%
PETMED EXPRESS INC 4.18%
NUTRISYSTEM INC 3.06%
DULUTH HOLDINGS INC - CL B 3.00%
QURATE RETAIL GROUP INC 2.98%
MERCADOLIBRE INC 2.87%
VIPSHOP HOLDINGS LTD - ADR 2.74%
JD.COM INC-ADR 2.62%
1-800-FLOWERS.COM INC-CL A 2.35%
GCI LIBERTY INC - CLASS A 1.29%
FTD COS INC 0.55%
NETSHOES CAYMAN LTD 0.15%
Index Companies (Short) Weight
FINISH LINE/THE - CL A 2.40%
CALERES INC 2.15%
DSW INC-CLASS A 2.12%
DILLARDS INC-CL A 2.09%
MACY'S INC 2.06%
SUPERVALU INC 2.06%
SEARS HOLDINGS CORP 2.04%
FIVE BELOW 2.02%
WEIS MARKETS INC 1.99%
DICK'S SPORTING GOODS INC 1.98%
BURLINGTON STORES INC 1.98%
TAILORED BRANDS INC 1.96%
BARNES & NOBLE INC 1.95%
GENESCO INC 1.95%
TJX COMPANIES INC 1.94%
CHICO'S FAS INC 1.94%
AMERICAN EAGLE OUTFITTERS 1.93%
CONN'S INC 1.91%
BUCKLE INC/THE 1.87%
COSTCO WHOLESALE CORP 1.84%
ROSS STORES INC 1.83%
ULTA BEAUTY INC 1.83%
KOHLS CORP 1.83%
SHERWIN-WILLIAMS CO/THE 1.83%
EXPRESS INC 1.80%
SALLY BEAUTY HOLDINGS INC 1.79%
LUMBER LIQUIDATORS HOLDINGS 1.79%
DOLLAR GENERAL CORP 1.79%
WALMART INC 1.78%
TRACTOR SUPPLY COMPANY 1.78%
BEST BUY CO INC 1.78%
BED BATH & BEYOND INC 1.77%
GAP INC/THE 1.77%
HOME DEPOT INC 1.76%
FOOT LOCKER INC 1.75%
TIFFANY & CO 1.74%
SPROUTS FARMERS MARKET INC 1.74%
CHILDREN'S PLACE INC/THE 1.73%
WALGREENS BOOTS ALLIANCE INC 1.73%
TARGET CORP 1.71%
ETHAN ALLEN INTERIORS INC 1.71%
NORDSTROM INC 1.68%
LOWE'S COS INC 1.67%
AUTOZONE INC 1.66%
DOLLAR TREE INC 1.65%
GNC HOLDINGS INC-CL A 1.62%
KROGER CO 1.62%
RITE AID CORP 1.49%
MICHAELS COS INC/THE 1.49%
GAMESTOP CORP-CLASS A 1.47%
L BRANDS INC 1.46%
BIG LOTS INC 1.42%
J.C. PENNEY CO INC 1.38%
SIGNET JEWELERS LTD 1.37%
SMART & FINAL STORES INC 1.36%
OFFICE DEPOT INC 1.29%