TD Ameritrade | October 10, 2019
In an interview with ProShares’ Kieran Kirwan, TD Ameritrade’s Oliver Renick questions what will happen in the market if we experience declines in earnings, noting that nearly every sector is a “big winner” in the current market. Kirwan agrees, stating that the market is expecting about a four percent decline in earnings in Q3, and after two quarters with little earnings growth, one “needs to wonder where some of that growth is going to come from.” For investors interested in earnings growth and yield, he suggests large-cap and small-cap dividend growth strategies and features NOBL, which focuses exclusively on companies in the S&P 500 Dividend Aristocrats Index that have grown dividends for a minimum of 25 consecutive years. See NOBL index holdings.
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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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