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. 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.
  • Physical retailers are under immense pressure. In general, profit margins and Return on Assets have been declining for years, currently approaching the lows of the Great Recession.* Over 80 major retailers have declared bankruptcy since 2015 and longstanding names like The Gap and Macy’s are struggling to remain viable.
  • 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. 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.
  • Three charts tell the compelling story of e-commerce and the transformation of retail.
    See them here.
  • Read: Explore CLIX’s Long E-commerce and Short Retail Stores Holdings.

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 9/30/20

Fundamentals

Total Number
of Companies
Price/Earnings
Ratio
Price/Book
Ratio
Average Index Market
Capitalization
Long Short Long Short Long Short Long Short
26 45 127.99 34.33 6.18 2.87 $104.78 billion $34.9 billion
Index Companies (Long) Weight
AMAZON.COM INC 27.03%
ALIBABA GROUP HOLDING-SP ADR 13.56%
CHEWY INC - CLASS A 6.52%
STAMPS.COM INC 4.50%
EBAY INC 4.23%
GRUBHUB INC 4.02%
SHUTTERSTOCK INC 4.00%
ETSY INC 3.95%
WAYFAIR INC 3.83%
QURATE RETAIL INC 3.66%
VIPSHOP HOLDINGS LTD 3.30%
QUOTIENT TECHNOLOGY INC 2.98%
PINDUODUO INC 2.95%
GROUPON INC. 2.85%
JD.COM INC 2.80%
STITCH FIX INC 2.51%
1-800-FLOWERS.COM INC-CL A 2.43%
MERCADOLIBRE INC 2.09%
FARFETCH LTD 1.05%
BAOZUN INC 0.77%
FIVERR INTERNATIONAL LTD 0.40%
YUNJI INC 0.23%
UXIN LTD 0.22%
JUMIA TECHNOLOGIES AG-ADR 0.12%
Index Companies (Short) Weight
ODP Corp. 2.32%
Ross Stores Inc. 2.32%
Camping World Holdings Inc. 2.30%
Best Buy Co. Inc. 2.29%
L Brands Inc. 2.29%
TJX Cos. Inc. 2.29%
Gap Inc./The 2.28%
Ingles Markets Inc. 2.28%
Lowe's Cos. Inc. 2.27%
AutoZone Inc. 2.27%
O'Reilly Automotive Inc. 2.27%
Costco Wholesale Corp. 2.26%
DICK's Sporting Goods Inc. 2.26%
Children's Place Inc./The 2.26%
BJ's Wholesale Club Holdings Inc. 2.26%
Home Depot Inc. 2.26%
Burlington Stores Inc. 2.26%
Ulta Salon Cosmetics & Fragrance Inc. 2.26%
American Eagle Outfitters Inc. 2.26%
Bed Bath & Beyond Inc. 2.25%
Signet Jewelers Ltd. 2.25%
Tractor Supply Co. 2.25%
Michaels Cos. Inc./The 2.24%
Zumiez Inc. 2.24%
Grocery Outlet Holding Corp. 2.23%
Dollar Tree Inc. 2.23%
Target Corp. 2.23%
Walmart Inc. 2.23%
Walgreens Boots Alliance Inc. 2.22%
Kroger Co. 2.21%
Foot Locker Inc. 2.20%
Dollar General Corp. 2.20%
Weis Markets Inc. 2.20%
Buckle Inc./The 2.19%
Tiffany & Co. 2.19%
Sherwin-Williams Co./The 2.18%
Sprouts Farmers Market Inc. 2.18%
Ollie's Bargain Outlet Holdings Inc. 2.18%
Five Below Inc. 2.14%
Big Lots Inc. 2.09%
Tapestry Inc. 2.09%
Kohl's Corp. 2.08%
Sally Beauty Holdings Inc. 2.08%
Rite Aid Corp. 2.07%
Macy's Inc. 2.07%