PEX

Global Listed Private Equity ETF

Why Invest in PEX?

  • Invests exclusively in a globally diversified portfolio of listed private equity companies whose primary business is direct investments in private enterprises.

  • Provides ETF access to listed private equity for investors who either have had difficulty accessing it in other forms or who want more liquidity than is typical of private equity limited partnerships.

Why Invest in PEX?

  • Invests exclusively in a globally diversified portfolio of listed private equity companies whose primary business is direct investments in private enterprises.

  • Provides ETF access to listed private equity for investors who either have had difficulty accessing it in other forms or who want more liquidity than is typical of private equity limited partnerships.

You may order paper copies by contacting ProShares Client Services at 866-PRO-5125 (866-776-5125)

Performance

Growth of $10,000

Chart is updated nightly to reflect the more recent of the previous day's market closing price or the closing price on the day the fund was last traded.

Total Return

Fund + Index 1m 3m 6m YTD 1Y 3Y 5Y 10Y Since Inception Inception Date
PEX Market Price 8.64% -12.68% -14.96% -29.04% -29.56% -2.15% -0.64% -- 4.29% 02/26/2013
PEX NAV 8.56% -12.33% -15.17% -28.62% -28.92% -2.00% -0.56% -- 4.31% 02/26/2013
LPX Direct Listed Private Equity Index 8.82% -12.21% -15.03% -28.31% -28.59% -1.54% -0.13% -- 4.76% --

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 above.

About the Fund

Snapshot
  • Ticker PEX
  • Intraday Ticker PEX.IV
  • CUSIP 74348A533
  • Inception Date 2/26/13
  • Expense Ratio 2.81% (0.60%%**)
  • Gross Expense Ratio 3.49%
  • NAV Calculation Time 4:00 p.m. ET
  • Distributions Quarterly
Characteristics
as of 10/31/2022
  • Distribution Yield 0%

    Distribution Yield represents the annualized yield based on the last income distribution.

  • Weighted Avg. Market Cap $2.44 billion

    Weighted average market cap is the average market value of a fund or index, weighted for the market capitalization (price times shares outstanding) of each component. In such a weighting scheme, larger market cap companies carry greater weight than smaller market cap companies.

  • SEC 30-Day Yield 5.65%

    SEC 30-Day Yield is a standard yield calculation developed by the Securities and Exchange Commission (SEC) that facilitates fairer comparisons of funds. The figure reflects dividends and interest earned by the securities held by the fund during the most recent 30-day period, net the fund's expenses.

  • SEC 30-Day Yield (unsubsidized) 4.32%
Price
as of 11/25/2022
  • NAV $28.06
  • NAV Change $+0.25 up caret
  • Market Price $0.00
  • Market Price Change $0.00
  • Trading Volume (M) 0
  • 30-Day Median Bid Ask Spread 0.00%
  • View Premium / Discount
Snapshot
  • Ticker PEX
  • Intraday Ticker PEX.IV
  • CUSIP 74348A533
  • Inception Date 2/26/13
  • Expense Ratio 2.81% (0.60%%**)
  • Gross Expense Ratio 3.49%
  • NAV Calculation Time 4:00 p.m. ET
  • Distributions Quarterly
Characteristics
as of 10/31/2022
  • Distribution Yield 0%

    Distribution Yield represents the annualized yield based on the last income distribution.

  • Weighted Avg. Market Cap $2.44 billion

    Weighted average market cap is the average market value of a fund or index, weighted for the market capitalization (price times shares outstanding) of each component. In such a weighting scheme, larger market cap companies carry greater weight than smaller market cap companies.

  • SEC 30-Day Yield 5.65%

    SEC 30-Day Yield is a standard yield calculation developed by the Securities and Exchange Commission (SEC) that facilitates fairer comparisons of funds. The figure reflects dividends and interest earned by the securities held by the fund during the most recent 30-day period, net the fund's expenses.

  • SEC 30-Day Yield (unsubsidized) 4.32%
Price
as of 11/25/2022
  • NAV $28.06
  • NAV Change $+0.25 up caret
  • Market Price $0.00
  • Market Price Change $0.00
  • Trading Volume (M) 0
  • 30-Day Median Bid Ask Spread 0.00%
  • View Premium / Discount

The expense ratio above has a contractual waiver ending 9/30/23.

This ETF has acquired fund fees and expenses of 2.07%. These fees are incurred indirectly through the fund's ownership of shares in other investment companies, such as business development companies. They are not direct costs paid by shareholders or used to calculate net asset value.

Read the prospectus for more information.

Exposures

Index as of 9/30/2022 and Fund as of 11/25/2022

Holdings

as of 11/25/2022

Weight Ticker Description Exposure Value
(Notional + GL)
Market Value Shares/Contracts SEDOL Number
11.31% III 3I GROUP PLC -- $1,364,810.81 83,165 B1YW440
9.43% ARCC ARES CAPITAL CORP -- $1,137,602.96 57,571 B032FN0
8.90% FSK FS KKR CAPITAL CORP -- $1,073,903.50 53,965 BLPJL16
6.59% KINVB KINNEVIK AB - B -- $795,584.99 49,454 BNKF607
6.43% ONEX ONEX CORPORATION -- $775,770.71 14,620 2659518
4.53% RF EURAZEO SE -- $546,347.19 8,567 7042395
4.41% MAIN MAIN STREET CAPITAL CORP -- $531,840.96 13,764 B28BNR6
4.03% MF WENDEL -- $485,950.61 5,278 7390113
3.91% GBDC GOLUB CAPITAL BDC INC -- $471,461.25 33,085 B60K6F8
3.85% PSEC PROSPECT CAPITAL CORP -- $464,945.92 59,456 B020VX7
3.16% HGT HGCAPITAL TRUST PLC -- $381,292.39 86,144 BJ0LT19
3.10% HTGC HERCULES CAPITAL INC -- $374,400.78 25,946 B07LT08
2.66% TSLX SIXTH STREET SPECIALTY LENDI -- $320,384.46 16,739 BMGGJV9
2.59% GSBD GOLDMAN SACHS BDC INC -- $312,656.02 19,826 BWC8Y36
2.50% SYNC SYNCONA LTD -- $301,335.41 134,833 B8P59C0
2.44% HBMN HBM HEALTHCARE IVST-A -- $294,820.69 1,191 B01TCC1
2.04% CODI COMPASS DIVERSIFIED HOLDINGS -- $246,220.80 12,824 B14TC70
2.00% OCSL OAKTREE SPECIALTY LENDING CO -- $240,984.12 33,657 BF4WC11
1.95% NMFC NEW MOUNTAIN FINANCE CORP -- $234,811.61 18,359 B61WWF5
1.78% APAX APAX GLOBAL ALPHA LTD -- $214,303.46 98,557 BWWYMV8
1.49% RATOB RATOS AB-B SHS -- $179,948.71 40,270 B130WD0
1.43% IPO IP GROUP PLC -- $172,509.70 207,486 B128J45
1.37% MFIC MIDCAP FINANCIAL INVESTMENT -- $164,800.00 13,184 BGLP5H7
1.34% OCI OAKLEY CAPITAL INVESTMENTS -- $161,625.24 31,153 B23DL39
1.16% SLRC SLR INVESTMENT CORP -- $139,683.60 9,640 B61FRC6
1.09% GROW MOLTEN VENTURES PLC -- $132,067.93 26,532 BY7QYJ5
0.99% AR4 AURELIUS EQUITY OPPORTUNITIE -- $119,461.64 5,651 B17NLM7
0.98% GIMB GIMV NV -- $117,799.04 2,612 5249080
0.88% PEY PRINCESS PRIV EQTY HOLD LTD -- $106,084.12 11,406 B28C2R2
0.88% CHRY CHRYSALIS INVESTMENTS LTD -- $105,931.28 121,489 BGJYPP4
-- -- NET OTHER ASSETS (LIABILITIES) -- $97,166.55 97,167 --

Index

as of 9/30/2022

  • Total Number of Companies30
  • Dividend Yield ( % )6.02
  • Avg. Index Market Capitalization$2.24 billion
About the Index

The index, published by LPX GmbH ("LPX"), consists of up to 30 qualifying listed private equity companies. A listed private equity company is an eligible candidate for the index if its direct private equity investments, as well as cash and cash equivalent positions and post-Initial Public Offering listed investments, represent more than 80% of the total assets of the company. LPX considers direct private equity investments to be direct investments noted on the balance sheet of the listed private equity company in the equity, mezzanine or debt facility of an underlying private company or investments in limited partnerships managed by the management portion of the listed private equity company. Candidates for the index will have a majority of its assets invested in or exposed to private companies or have a stated intention to have a majority of its assets invested in or exposed to private companies.

The index applies a liquidity screen to qualifying companies and then includes up to 30 of the remaining companies based, among other things, on greater relative trading volume (i.e., trading volume relative to the market capitalization of the company)—the index historically has included securities of all market capitalizations, from micro to large cap. The index is reconstituted quarterly on the 15th of January, April, July and October.

Distributions

Ex-Dividend Date Record Date Payable Date Dividend Long-Term Capital Gain Short-Term Capital Gain Return of Capital

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For the total return table above, since inception returns are cumulative for funds less than one year old; otherwise, returns are annualized. Market returns are based on the composite closing price and do not represent the returns you would receive if you traded shares at other times. The listing date is typically one or more days after the fund inception date. Therefore, NAV is used to calculate market returns prior to the listing date.

The expense ratio for certain funds includes a contractual fee waiver that results in a lower net expense ratio for some or all periods shown. For information about this ETF’s fees, please see above.

 May include significant acquired fund fees and expenses incurred indirectly through the fund's ownership of shares in other investment companies, such as business development companies. These fees are not direct costs paid by shareholders or used to calculate net asset value. See the prospectus for more information.

Holdings are subject to change.

Registered Investment Companies are required by the IRS to distribute substantially all of their income and capital gains to shareholders at least annually. For specific tax advice, we recommend you speak with a qualified tax professional.

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 above.

Index information does not reflect any management fees, transaction costs or expenses. Indexes are unmanaged, and one cannot invest directly in an index.

There is no guarantee that distributions will not be made in the future. There is no guarantee that dividends or interest income will be paid.

There is no guarantee any ProShares ETF will achieve its investment objective.

Shares of any ETF are generally bought and sold at market price (not NAV) and are not individually redeemed from the fund. Your brokerage commissions will reduce returns.

Investing involves risk, including the possible loss of principal. This ProShares ETF is subject to certain risks, including the risk that the fund may not track the performance of the index and that the fund’s market price may fluctuate, which may decrease performance. Please see their summary and full prospectuses for a more complete description of risks.

International investments may involve risks from: geographic concentration, differences in valuation and valuation times, unfavorable fluctuations in currency, differences in generally accepted accounting principles, and from economic or political instability.

Investments in smaller companies typically exhibit higher volatility. Small- and mid-cap companies may have limited product lines or resources, may be dependent upon a particular market niche and may have greater fluctuations in price than the stocks of larger companies. Small- and mid-cap companies may lack the financial and personnel resources to handle economic or industry-wide setbacks and, as a result, such setbacks could have a greater effect on small- and mid-cap security prices.

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.

There are risks in investing in listed private equity companies (LPEs), which encompass business development companies (BDCs) and other financial institutions or vehicles whose principal business is to invest in and provide financing to privately held companies. Little public information may exist for private or thinly traded companies, and investors may not be able to make fully informed investment decisions. Private equity securities carry risks related to unclear ownership, market access and market opaqueness. BDCs are subject to the Investment Company Act of 1940 but are exempt from many of its regulatory constraints. The fund is subject to risks faced by BDCs to the same extent as its index is so concentrated. A significant portion of the index is composed of BDCs or other investment companies. The fund may not acquire greater than 3% of the total outstanding shares of such companies. As a result, the fund’s ability to purchase certain securities in the proportions represented in the index could be inhibited. The fund may be required to use sampling techniques in these circumstances, which could increase correlation risk. For more on the fund, LPEs, BDCs, correlation and other risks, please read the prospectus.

"LPX® Direct Listed Private Equity Index" and "LPX®" are registered trademarks of LPX GmbH and have been licensed for use by ProShares. ProShares have not been passed on by LPX GmbH as to their legality or suitability. ProShares based on the LPX® Direct Listed Private Equity Index are not sponsored, endorsed, sold, or promoted by LPX GmbH, and it makes no representation regarding the advisability of investing in ProShares. THIS ENTITY AND ITS AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES.

Quote data provided by Interactive Data - Real Time Services, Inc. and subject to terms of use.

ProShares ETFs (ProShares Trust and ProShares Trust II) are distributed by SEI Investments Distribution Co., which is not affiliated with the funds' advisor or sponsor.

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