STRATEGY Ex-Sector
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Ex-Sector ETFs Have Delivered for Over a Decade
November 25, 2025

Sometimes investing isn’t about what you own, it’s about what you choose to leave out. As ProShares’ suite of Ex-Sector ETFs celebrate their 10-year anniversary, the potential benefits of insulating a portfolio from a particular sector has proven its value over recent years.

 

Performance
Quarter-End Total Returns as of 9/30/2025.

  1Y 3Y 5Y 10Y Since Inception
SPXE NAV 17.92% 25.34% 15.93% 15.43% 15.27%
SPXE Market Price 17.93% 25.32% 15.91% 15.49% 15.28%
SPXN NAV 17.54% 25.37% 16.13% 15.54% 15.34%
SPXN Market Price 17.60% 25.29% 16.10% 15.49% 15.35%
SPXV NAV 20.80% 27.47% 17.48% 15.82% 15.72%
SPXV Market Price 20.81% 27.43% 17.44% 15.86% 15.72%

The performance quoted represents past performance and does not guarantee future results. 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. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the fund. Market price returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. 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. Your brokerage commissions will reduce returns. Current performance may be lower or higher than the performance quoted. For standardized returns and performance data current to the most recent month end, see the links to the funds' profile pages below.

 

 

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SPXE

S&P 500 Ex-Energy ETF

Excludes oil, gas and consumable fuels, and energy equipment and services companies.

SPXN

S&P 500 Ex-Financials ETF

Excludes banks, diversified financials, such as consumer finance, asset management, investment banking and brokerage companies, insurance companies and REITs.

SPXT

S&P 500 Ex-Technology ETF

Excludes information technology companies, including software, technology hardware and equipment, and semiconductor companies.

SPXV

S&P 500 Ex-Health Care ETF

Excludes pharmaceuticals, biotechnology and life sciences tools and services companies, and health care providers, equipment and services companies.

Investing involves risk, including the possible loss of principal. These ProShares ETFs are subject to certain risks, including the risk that each fund may not track the performance of the index and that the fund’s market price may fluctuate, which may decrease performance. Each fund may operate as non-diversified in order to approximate its index; non-diversified and narrowly focused investments typically exhibit higher volatility. Each fund is exposed to the stocks of large cap companies, which tend to go through cycles of outperformance or underperformance lasting up to several years relative to other segments of the stock market. As a result, large cap returns may trail the returns of the overall stock market or other market segments. Please see the summary and full prospectuses for a more complete description of risks. There is no guarantee any ProShares ETF will achieve its investment objective. 

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. 

The "S&P 500 Ex-Energy Index," "S&P 500 Ex-Financials & Real Estate Index," "S&P 500 Ex-Health Care Index," and "S&P 500 Ex-Information Technology Index" are products of S&P Dow Jones Indices LLC and its affiliates and have been licensed for use by ProShares. "S&P®" is a registered trademark of Standard & Poor's Financial Services LLC ("S&P") and "Dow Jones®" is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones") and have been licensed for use by S&P Dow Jones Indices LLC and its affiliates. ProShares have not been passed on by S&P Dow Jones Indices LLC and its affiliates as to their legality or suitability. ProShares based on these indexes are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates, and they make no representation regarding the advisability of investing in ProShares. THESE ENTITIES AND THEIR AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES. 

Star rating is © 2025 Morningstar, Inc. All Rights Reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. The Morningstar RatingTM for funds, or “star rating," is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange traded funds and open-ended mutual funds are considered a single population for comparative purposes. Star ratings are calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the bottom 10% receive one star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five- and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. SPXV, SPXE and SPXN were rated against the following numbers of U.S.-domiciled Large Blend funds for the following time periods ending 10/31/25: 1223 for the last three years, 1134 for the last five years, and 881 for the last ten years. With respect to these Large Blend funds: SPXV received a Morningstar Rating of 5 stars for the three-year period, 4 stars for the five-year period, and 5 stars for the ten-year period; SPXE received a Morningstar Rating of 4 stars for the three-year period, 4 stars for the five-year period, and 5 stars for the ten-year period; and SPXN received a Morningstar Rating of 4 stars for the three-year period, 4 stars for the five-year period, and 5 stars for the ten-year period. Past performance is no guarantee of future results.  

ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds’ advisor or sponsor.

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