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. The long/short structure also reduces equity market exposure and potentially results in less volatility than long-only equity strategies.
  • Learn More about ProShares Retail Disruption ETFs.

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 index.

As of 10/31/17

Fundamentals

Total Number
of Companies
Price/Earnings
Ratio
Price/Book
Ratio
Dividend Yield 1
(%)
Average Index Market
Capitalization
Long Short Long Short Long Short Long Short Long Short
21 56 31.41 13.67 6.88 2.22 0.28 2.44 $58.78 billion $18.3 billion
1 = Derivative contracts are priced to reflect the underlying index yield and will not generate dividend income. Because ProShares invest in derivatives, they will not have dividend distributions that reflect those of their applicable indexes.

Index Companies (Long) Weight
Amazon.com Inc 24.00%
Alibaba Group Holding Ltd 15.84%
Etsy Inc 4.50%
Wayfair Inc 4.50%
Nutrisystem Inc 4.50%
Chegg 4.50%
HSN Inc 4.50%
Groupon Inc 4.50%
eBay Inc 4.50%
Netflix Inc 4.50%
Shutterfly Inc 4.37%
Liberty Interactive Corp QVC Group 3.05%
JD.com Inc 2.97%
Vipshop Holdings Ltd 2.97%
MercadoLibre Inc 2.97%
PetMed Express Inc 2.27%
Duluth Holdings Inc 1.87%
Liberty Ventures 1.45%
1-800-Flowers.com Inc 1.06%
FTD Cos Inc 0.92%
Netshoes Cayman Ltd 0.25%
Index Companies (Short) Weight
Foot Locker Inc -0.89%
Lumber Liquidators Holdings Inc -0.89%
Chico's FAS Inc -0.89%
GNC Holdings Inc -0.89%
Sprouts Farmers Market Inc -0.89%
Barnes & Noble Inc -0.89%
AutoZone Inc -0.89%
Target Corp -0.89%
Dollar General Corp -0.89%
Burlington Stores Inc -0.89%
Nordstrom Inc -0.89%
Costco Wholesale Corp -0.89%
Lowe's Cos Inc -0.89%
Sally Beauty Holdings Inc -0.89%
Rite Aid Corp -0.89%
Buckle Inc/The -0.89%
Conn's Inc -0.89%
Genesco Inc -0.89%
Walgreens Boots Alliance Inc -0.89%
Home Depot Inc/The -0.89%
Dick's Sporting Goods Inc -0.89%
Express Inc -0.89%
Children's Place Inc/The -0.89%
Smart & Final Stores Inc -0.89%
American Eagle Outfitters Inc -0.89%
Macy's Inc -0.89%
Weis Markets Inc -0.89%
JC Penney Co Inc -0.89%
Wal-Mart Stores Inc -0.89%
Five Below Inc -0.89%
Kroger Co/The -0.89%
Michaels Cos Inc/The -0.89%
Kohl's Corp -0.89%
Dillard's Inc -0.89%
Finish Line Inc/The -0.89%
Tractor Supply Co -0.89%
Sears Holdings Corp -0.89%
TJX Cos Inc/The -0.89%
SUPERVALU Inc -0.89%
Caleres Inc -0.89%
Sherwin-Williams Co/The -0.89%
Big Lots Inc -0.89%
Signet Jewelers Ltd -0.89%
Dollar Tree Inc -0.89%
Ulta Beauty Inc -0.89%
Tiffany & Co -0.89%
Gap Inc/The -0.89%
Bed Bath & Beyond Inc -0.89%
Tailored Brands Inc -0.89%
Ethan Allen Interiors Inc -0.89%
GameStop Corp -0.89%
Ross Stores Inc -0.89%
DSW Inc -0.89%
Office Depot Inc -0.89%
Best Buy Co Inc -0.89%
L Brands Inc -0.89%

Index information does not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index.

Retail revenue information in the Solactive-ProShares Bricks and Mortar Retail Store Index is based on Kantar Retail LLC data.

"Solactive AG," a registered trademark of Solactive AG, and the Solactive-ProShares Bricks and Mortar Retail Store Index have been licensed for use by ProShare Advisors LLC ("ProShares") in connection with the Decline of the Retail Store ETF. ProShares Long Online/Short Stores Index is owned by ProShares and licensed to the ProShares Long Online/Short Stores ETF. ProShares is solely responsible for overseeing the methodology governing the operation of Long Online/Short Stores Index and for adopting and implementing changes to such methodology. Solactive AG serves as index calculation agent for this Index and performs routine daily index calculations and index maintenance (e.g., annual Index reconstitution, quarterly rebalancing, and corporate actions) of this Index. The Funds are not sponsored, endorsed, sold, or promoted by Solactive AG and Solactive AG makes no representation regarding the legality or suitability of the Funds, or the advisability of investing in the Funds. SOLACTIVE AG AND ITS AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES AND THE FUNDS. Solactive AG does not offer any express or implicit guarantee or assurance either with regard to the results of using any Index and/or Index trade mark or any Index price at any time or in any other respect. Each Index is calculated and published by Solactive AG. Solactive AG uses its best efforts to ensure that the each Index is calculated correctly. Solactive AG has no obligation to point out errors in any Index to third parties, including but not limited to investors and/or financial intermediaries of the Fund. Neither publication of the Indexes by Solactive AG nor the licensing of any Index or Index trade mark for the purpose of use in connection with a Fund constitutes a recommendation by Solactive AG to invest capital in a Fund nor does it in any way represent an assurance or opinion of Solactive AG with regard to any investment in a Fund. The Funds are not sponsored, promoted, sold or supported in any other manner by Solactive AG, ProShares does not make any representation, warranty or guaranty, express or implied, as to the results to be obtained by the Funds or any other person from the use of any Index or the data therein.

Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing.

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