Investor Place | August 17, 2020
In an interview with Simeon Hyman, Investor Place’s John Kilhefner says oil producers have been “severely impacted” by the COVID-19 pandemic, a failed OPEC deal, and are facing problems “beyond the scope of 2020.” Hyman says investors concerned about the energy sector, which made up 2.53% of the S&P 500 as of 7/31/20, may not realize that they’re adding to their energy exposure when they make contributions to S&P 500 funds. Hyman highlights SPXE, which offers exposure to the S&P 500 without the energy. See SPXE performance and holdings.
This is not meant to be investment advice. The views represented in this article are not those of ProShares unless stated as such. SPXE is not an ESG fund and neither ProShares or SEI market this fund as an ESG fund. ESG principles are not part of the investment objective or index methodology.
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Geared (leveraged or short) ProShares ETFs seek returns that are a multiple of (e.g., 2x or -2x) the return of a benchmark (target) for a single day, as measured from one NAV calculation to the next. Due to the compounding of daily returns, holding periods of greater than one day can result in returns that are significantly different than the target return and ProShares' returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. These effects may be more pronounced in funds with larger or inverse multiples and in funds with volatile benchmarks. Investors should monitor their holdings as frequently as daily. Investors should consult the prospectus for further details on the calculation of the returns and the risks associated with investing in this product.
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