S&P 500 Bond ETF - SPXB S&P 500 Bond ETF

ProShares S&P 500® Bond ETF seeks investment results, before fees and expenses, that track the performance of the S&P 500®/MarketAxess® Investment Grade Corporate Bond Index.

SPXB is the first ETF investing exclusively in the bonds of the iconic S&P 500.

  • The S&P 500 has been among the best known and most widely used U.S. equity benchmarks for decades.
  • SPXB's index selects bonds from S&P 500 companies. The selected bonds have stronger credit quality than the broader U.S. corporate bond landscape.
  • The index seeks to select the most liquid investment grade bonds from companies in the S&P 500.
  • SPXB offers investors bond exposure with the cost efficiency, tradability and transparency of an ETF.

  • Learn more about ProShares S&P 500 Bond ETF.

Index/Benchmark Summary

From over 5000 bonds issued by S&P 500 companies, the S&P 500®/MarketAxess® Investment Grade Corporate Bond Index seeks to select and weight up to 1000 of the most liquid investment grade bonds based on the following criteria:

Qualifying investment grade bonds must (i) be issued in the United States and denominated in U.S. dollars, (ii) have a remaining maturity of greater than or equal to one year (as of the monthly rebalance date), (iii) have a maturity upon issuance of at least two and a half years, and (iv) have a minimum par amount of $750 million. Bonds meeting the above criteria are ranked based on their liquidity. The 1000 most liquid bonds (i.e., those with the highest average trading volumes) are included in the index.

The index is weighted by market value. Bond issuances with higher market values are more heavily weighted than bond issuances with lower market values. The index constituents are reset and rebalanced on a monthly basis.

Yield as of 8/31/21

Weighted Average Yield to Maturity 2.09%

Fundamentals as of 8/31/21

Total Number of Issues 1,000
Weighted Average Maturity 13.6 Years
Weighted Average Coupon * 3.54%
Weighted Average Price $112.00
Effective Duration 9.64

* = Derivative contracts are priced to reflect the underlying index yield but may generate interest income.

Index Holdings Information as of 8/31/21

Top 10 Index Constituents Weight
Ge Capital International Funding 4.418% 11/15/2035 0.74%
Cvs Health Corp 5.05% 3/25/2028 0.57%
Cvs Health Corp 4.3% 3/25/2048 0.44%
Goldman Sachs Group Inc 6.75% 10/1/2037 0.43%
T-Mobile Usa Inc 3.875% 11/15/2020 0.42%
Boeing Co 5.805% 3/9/2023 0.40%
Abbvie Inc 4.25% 8/21/2054 0.37%
Microsoft Corp 2.921% 5/3/2023 0.36%
Cvs Health Corp 4.78% 3/25/2038 0.33%
Cvs Health Corp 4.78% 3/25/2025 0.33%

ProShares may invest in financial instruments (including derivatives) that, in combination, should have similar daily price return characteristics to the fund's benchmark.

Index Quality Breakdown as of 8/31/21

AAA 2.55%
AA+ 4.52%
AA 3.93%
AA- 3.88%
A+ 7.32%
A 3.92%
A- 15.29%
BBB+ 28.89%
BBB 19.77%
BBB- 9.76%

Sector Breakdown as of 8/31/21

Industrial - Service 28.14%
Industrial - Manufac 27.13%
Finance - Bank 14.86%
Utility - Telecom 9.43%
Industrial - Energy 4.83%
Finance - Insurance 3.87%
Finance - Other 3.79%
Industrial - Consume 3.66%
Utility - Electric 1.97%
Industrial - Transpo 1.28%
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± Sum of weightings may not equal 100% due to rounding.