ProShares Global Listed Private Equity ETF
ALTAR
Score™		 11.1% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 7.8x P/Sales
ratio		 2.4x
P/BV
ratio		 0.9x Div.
yield		 7.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
ProShares Global Listed Private Equity ETF is an exchange-traded fund incorporated in the USA. The Fund seeks daily investment results that correspond to the daily performance of the LPX Direct Listed Private Equity Index. This index consists of up to 30 listed private equity companies.

FUND BASICS
Category Global Equities
Fund Sponsor ProShare Advisors LLC
Website www.proshares.com
Inception date Feb 26, 2013
Assets (mns) $12
Currency USD
Expense ratio 81 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 31
Wgt avg mkt cap (mns) $7,062
Large cap (>$10bn) 12.4%
Mid cap ($2-10bn) 60.4%
Small cap (<$2bn) 27.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ARES CAPITAL CORP 10.0 %
ONEX CORPORATION 8.5 %
3I GROUP PLC 8.4 %
SOFINA 7.3 %
MAIN STREET CAPITAL CORP 7.2 %
HERCULES TECHNOLOGY GROWTH 4.6 %
FS INVESTMENT CORP 4.4 %
GOLUB CAPITAL BDC INC 4.3 %
WENDEL 4.0 %
HGCAPITAL TRUST PLC 3.9 %
Total 62.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 43.7 %
BRITAIN 10.6 %
BELGIUM 9.4 %
CANADA 8.5 %
FRANCE 7.8 %
SWITZERLAND 2.8 %
SWEDEN 1.3 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-6.8% -11.2% -0.3% 4.8% 5.3%

Market Correlations
versus... Beta R-squared
S&P500 0.78 40%
MSCI EAFE 0.64 40%
MSCI Emg. Mkts. 0.30 21%

Technical Indicators
Recent close $23.76
30d moving avg. $22.21
Annualized volatility 13.2%
Short interest (ETF) 4.3%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.6%
Bid/Ask (% of price) 0.22%
ADV underlying (mns) $321

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 135 potential alternatives to the ProShares Global Listed Private Equity ETF ETF based on the alternatives' overlap in portfolio holdings with PEX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PEX Expense: 81 bp ALTAR Score™: 11.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PEX
Ticker Fund
Name		 Overlap1
vs PEX
(%)		 Expense
ratio
(bp)		 Savings
vs PEX
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs PEX
(%)
LBO WHITEWOLF Publicly Listed Private Equity ETF 24.4 70 11 8.3 -2.9
PSP Invesco Global Listed Private Equity ETF 23.2 106 -25 6.3 -4.8
KBWD Invesco KBW High Dividend Yield Financial ETF 8.5 384 -303 17.4 +6.3
GPZ VanEck Alternative Asset Manager ETF 7.7 40 41 4.8 -6.4
EWK iShares MSCI Belgium ETF 2.6 50 31 3.8 -7.3
FKU First Trust United Kingdom AlphaDEX Fund 2.5 80 1 6.9 -4.2
EUDV ProShares MSCI Europe Dividend Growers ETF 2.2 55 26 5.6 -5.5
PEY Invesco High Yield Equity Dividend Achievers ETF 1.8 52 29 8.1 -3.0
OEFA ALPS O’Shares International Developed Quality Dividend ETF 1.4 48 33 4.7 -6.4
KVLE KraneShares Value Line Dynamic Dividend Equity Index ETF 1.4 56 25 6.6 -4.6
IMFL Invesco International Developed Dynamic Multifactor ETF 1.4 34 47 5.1 -6.1
EFAD ProShares MSCI EAFE Dividend Growers ETF 1.3 50 31 5.5 -5.6
NUDM Nuveen ESG International Developed Markets Equity ETF 1.3 31 50 5.2 -5.9
INEQ Columbia International Equity Income ETF 1.3 45 36 7.5 -3.6
EWU iShares MSCI United Kingdom ETF 1.1 50 31 7.0 -4.1
EUFN iShares MSCI Europe Financials ETF 1.1 51 30 6.3 -4.8
CGXU Capital Group International Focus Equity ETF 1.1 54 27 3.7 -7.4
CGGO Capital Group Global Growth Equity ETF 1.1 47 34 3.9 -7.2
FEP First Trust Europe AlphaDEX Fund 0.9 80 1 6.7 -4.5
FLGB Franklin FTSE United Kingdom ETF 0.9 9 72 6.5 -4.6
FDT First Trust Developed Markets ex-US AlphaDEX Fund 0.9 80 1 6.9 -4.2
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.8 80 1 9.2 -1.9
RFDI First Trust Riverfront Dynamic Developed International ETF 0.7 83 -2 7.3 -3.9
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF 0.7 9 72 7.5 -3.7
FIVA Fidelity International Value Factor ETF 0.7 18 63 7.0 -4.2
IQLT iShares MSCI Intl Quality Factor ETF 0.6 30 51 5.3 -5.8
IVLU iShares MSCI Intl Value Factor ETF 0.6 30 51 7.8 -3.4
IVSI Applied Finance IVS International Large ETF 0.6 65 16 5.7 -5.5
IDHQ Invesco S&P International Developed High Quality ETF 0.5 29 52 4.9 -6.3
IPKW Invesco International BuyBack Achievers ETF 0.5 55 26 7.7 -3.4
SCHC Schwab International Small-Cap Equity ETF 0.5 11 70 6.6 -4.6
IEUS iShares MSCI Europe Small-Cap ETF 0.5 42 39 6.6 -4.5
WWJD Inspire International ETF 0.4 80 1 6.1 -5.0
ESGD iShares ESG Aware MSCI EAFE ETF 0.4 20 61 5.6 -5.6
DMXF iShares ESG Advanced MSCI EAFE ETF 0.4 12 69 4.8 -6.4
EFV iShares MSCI EAFE Value ETF 0.4 34 47 7.2 -3.9
FYT First Trust Small Cap Value AlphaDEX Fund 0.4 73 8 8.9 -2.2
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.3 8 73 6.3 -4.8
ISCF iShares International SmallCap Equity Factor ETF 0.3 23 58 7.1 -4.0
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.3 24 57 6.8 -4.4
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 0.3 12 69 5.1 -6.0
AVDS Avantis International Small Cap Equity ETF 0.3 30 51 5.9 -5.2
VGK Vanguard FTSE Europe ETF 0.3 6 75 6.3 -4.8
IEUR iShares Core MSCI Europe ETF 0.3 11 70 6.2 -5.0
SPEU SPDR Portfolio Europe ETF 0.3 7 74 6.3 -4.9
FRGN Horizon International Equity ETF 0.3 75 6 7.7 -3.4
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.3 12 69 4.3 -6.8
IEV iShares Europe ETF 0.3 67 14 5.7 -5.5
EWUS iShares MSCI United Kingdom Small Cap ETF 0.3 59 22 6.9 -4.2
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.3 30 51 5.9 -5.3
AVIV Avantis International Large Cap Value ETF 0.3 25 56 6.7 -4.4
IXG iShares Global Financials ETF 0.2 42 39 5.7 -5.4
JIRE JPMorgan International Research Enhanced Equity ETF 0.2 24 57 5.6 -5.6
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 0.2 14 67 5.1 -6.0
JHID John Hancock International High Dividend ETF 0.2 46 35 7.6 -3.5
AVSD Avantis Responsible International Equity ETF 0.2 23 58 5.7 -5.4
BBEU JPMorgan BetaBuilders Europe ETF 0.2 9 72 6.0 -5.1
FLEE Franklin FTSE Europe ETF 0.2 9 72 6.1 -5.1
DBEU Xtrackers MSCI Europe Hedged Equity ETF 0.2 46 35 5.2 -5.9
SCZ iShares MSCI EAFE Small-Cap ETF 0.2 40 41 6.0 -5.1
BLES Inspire Global Hope ETF 0.2 61 20 5.5 -5.6
STXI Strive International Developed Markets ETF 0.2 29 52 6.3 -4.8
EFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF 0.2 20 61 5.4 -5.8
CEFA Global X S&P Catholic Values Developed ex-US ETF 0.2 35 46 5.4 -5.7
DFE WisdomTree Europe SmallCap Dividend Fund 0.2 58 23 7.5 -3.7
GINN Goldman Sachs Innovate Equity ETF 0.2 52 29 3.6 -7.6
JPIN J.P. Morgan Diversified Return International Equity ETF 0.2 37 44 6.9 -4.2
FYX First Trust Small Cap Core AlphaDEX Fund 0.2 61 20 4.9 -6.3
EFA iShares MSCI EAFE ETF 0.2 35 46 5.5 -5.6
HEFA iShares Currency Hedged MSCI EAFE ETF 0.2 35 46 5.5 -5.6
IEFA iShares Core MSCI EAFE ETF 0.2 7 74 5.9 -5.3
IDEV iShares Core MSCI International Developed Markets ETF 0.2 4 77 5.8 -5.3
DIM WisdomTree International MidCap Dividend Fund 0.2 58 23 6.2 -5.0
VEA Vanguard FTSE Developed Markets ETF 0.2 3 78 5.8 -5.4
VSGX Vanguard ESG International Stock ETF 0.2 10 71 6.4 -4.7
SPDW SPDR Portfolio Developed World ex-US ETF 0.2 3 78 5.7 -5.4
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.2 39 42 6.8 -4.3
AVDE Avantis International Equity ETF 0.2 23 58 6.0 -5.1
QINT American Century Quality Diversified International ETF 0.2 39 42 6.4 -4.8
TPIF Timothy Plan International ETF 0.2 62 19 5.4 -5.7
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF 0.2 20 61 5.5 -5.7
DIVI Franklin International Core Dividend Tilt Index ETF 0.2 9 72 6.4 -4.8
GSID Goldman Sachs MarketBeta International Equity ETF 0.2 20 61 5.6 -5.5
JSTC Adasina Social Justice All Cap Global ETF 0.1 89 -8 4.2 -7.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.1 36 45 5.1 -6.1
SCHF Schwab International Equity ETF 0.1 6 75 5.8 -5.4
HFXI IQ FTSE International Equity Currency Neutral ETF 0.1 20 61 5.5 -5.7
GWX SPDR S&P International Small Cap ETF 0.1 40 41 5.9 -5.2
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 0.1 25 56 6.1 -5.0
CWI SPDR MSCI ACWI ex-US ETF 0.1 30 51 6.3 -4.9
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 72 4.7 -6.4
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.1 25 56 5.9 -5.2
BKIE BNY Mellon International Equity ETF 0.1 4 77 17.4 +6.3
VXUS Vanguard Total International Stock ETF 0.1 5 76 6.5 -4.7
JHMD John Hancock Multifactor Developed International ETF 0.1 39 42 6.0 -5.2
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 74 6.4 -4.7
ACWX iShares MSCI ACWI ex U.S. ETF 0.1 34 47 6.2 -4.9
WSML iShares MSCI World Small-Cap ETF 0.1 15 66 5.2 -6.0
QWLD SPDR MSCI World StrategicFactors ETF 0.1 30 51 5.0 -6.1
VEU Vanguard FTSE All-World ex-US Index Fund 0.1 4 77 6.5 -4.6
CIL VictoryShares International Volatility Wtd ETF 0.1 45 36 5.9 -5.3
AQLT iShares MSCI Global Quality Factor ETF 0.1 18 63 0.0 -11.1
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.1 49 32 5.9 -5.2
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.1 18 63 6.2 -5.0
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.1 20 61 4.6 -6.5
DLS WisdomTree International SmallCap Dividend Fund 0.1 58 23 7.3 -3.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.1 41 40 5.8 -5.3
VIGI Vanguard International Dividend Appreciation ETF 0.1 10 71 5.8 -5.3
DISV Dimensional International Small Cap Value ETF 0.1 42 39 7.9 -3.3
FAB First Trust Multi Cap Value AlphaDEX Fund 0.1 67 14 8.1 -3.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.1 45 36 6.6 -4.6
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.1 39 42 6.1 -5.0
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 71 4.8 -6.3
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 0.1 45 36 5.3 -5.9
EZU iShares MSCI Eurozone ETF 0.1 52 29 5.4 -5.7
HEZU iShares Currency Hedged MSCI Eurozone ETF 0.1 53 28 5.2 -5.9
TOK iShares MSCI Kokusai ETF 0.1 26 55 4.2 -7.0
VT Vanguard Total World Stock ETF 0.0 6 75 4.9 -6.3
URTH iShares MSCI World ETF 0.0 24 57 4.2 -6.9
FNDC Schwab Fundamental International Small Co. Index ETF 0.0 39 42 6.6 -4.5
FNDF Schwab Fundamental International Large Co. Index ETF 0.0 25 56 7.2 -4.0
AVDV Avantis International Small Cap Value ETF 0.0 36 45 7.7 -3.4
ACWI iShares MSCI ACWI ETF 0.0 32 49 4.5 -6.6
ESGG FlexShares STOXX Global ESG Select Index Fund 0.0 42 39 3.9 -7.2
KOKU Xtrackers MSCI Kokusai Equity ETF 0.0 9 72 4.3 -6.9
IQSI IQ Candriam International Equity ETF 0.0 15 66 5.4 -5.7
DFIS Dimensional International Small Cap ETF 0.0 39 42 6.0 -5.1
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.0 25 56 5.4 -5.7
PFM Invesco Dividend Achievers ETF 0.0 53 28 4.5 -6.6
DFIC Dimensional International Core Equity 2 ETF 0.0 23 58 6.1 -5.1
DXIV Dimensional International Vector Equity ETF 0.0 34 47 6.5 -4.7
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.0 30 51 6.3 -4.8
DFAI Dimensional International Core Equity Market ETF 0.0 18 63 5.9 -5.3
FENI Fidelity Enhanced International ETF 0.0 28 53 5.6 -5.6
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 0.0 40 41 5.5 -5.6

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2020 2021 2022 2023 2024 2025E 2026E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 ProShares Global Listed Private Equity ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.7 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 81 bp
Equals: ALTAR Score 11.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.52 CATEGORY
AVERAGE		 1.58
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.