SPXN
SPXN 2-star rating from Upturn Advisory

ProShares S&P 500® ex-Financials ETF (SPXN)

ProShares S&P 500® ex-Financials ETF (SPXN) 2-star rating from Upturn Advisory
$74.57
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Upturn Advisory Summary

12/05/2025: SPXN (2-star) is currently NOT-A-BUY. Pass it for now.

Upturn Star Rating

Upturn 2 star rating for performance

Below Average Performance

These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.

Analysis of Past Performance

Type ETF
Historic Profit 45.6%
Avg. Invested days 77
Today’s Advisory PASS
Upturn Star Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 5.0
ETF Returns Performance Upturn Returns Performance icon 5.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 12/05/2025

Key Highlights

Volume (30-day avg) -
Beta 1
52 Weeks Range 51.28 - 65.88
Updated Date 06/29/2025
52 Weeks Range 51.28 - 65.88
Updated Date 06/29/2025

Icon representing Upturn AI-generated SWOT analysis summary Upturn AI SWOT

ProShares S&P 500® ex-Financials ETF

ProShares S&P 500® ex-Financials ETF(SPXN) company logo displayed in Upturn AI summary

ETF Overview

overview logo Overview

The ProShares S&P 500u00ae ex-Financials ETF (SPAF) seeks to track the performance of the S&P 500u00ae ex-Financials Index, providing investors with exposure to large-cap U.S. equities while excluding the Financials sector. This strategy aims to offer diversification benefits and a different risk/return profile compared to broad market indices by underweighting a historically volatile sector.

Reputation and Reliability logo Reputation and Reliability

ProShares is a well-established and reputable issuer of ETFs in the United States, known for its innovative and specialized ETF offerings. They have a strong track record in providing transparent and liquid investment products.

Leadership icon representing strong management expertise and executive team Management Expertise

ProShares benefits from the expertise of its experienced management team, which is dedicated to designing and managing ETFs that meet specific investor needs and market opportunities, ensuring adherence to their stated investment objectives.

Investment Objective

Icon representing investment goals and financial objectives Goal

To provide investment results that correspond generally to the performance of the S&P 500u00ae ex-Financials Index.

Investment Approach and Strategy

Strategy: The ETF aims to track a specific index, the S&P 500u00ae ex-Financials Index, using a passive investment strategy.

Composition The ETF primarily holds stocks of companies within the S&P 500u00ae index, excluding those classified within the Financials sector. This leads to a diversified portfolio across various other sectors such as Technology, Healthcare, Consumer Discretionary, etc.

Market Position

Market Share: Data on specific market share for this niche ETF is not readily available without proprietary market data. However, as a specialized ETF, its market share would be a fraction of the broader S&P 500 ETF market.

Total Net Assets (AUM): 1784350000

Competitors

Key Competitors logo Key Competitors

  • iShares Global Financials ETF (IXG)
  • Invesco KBW Bank ETF (KBWX)
  • Financial Select Sector SPDR Fund (XLF)

Competitive Landscape

The competitive landscape for ETFs excluding specific sectors is growing. SPAF's advantage lies in its direct tracking of the S&P 500 ex-Financials Index, offering a precise way to gain this exposure. However, it faces competition from broader sector ETFs and ETFs that might exclude other sectors, as well as from direct index funds if available. Its disadvantage might be a smaller asset base compared to more established broad-market ETFs.

Financial Performance

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Expense Ratio: 0.17

Liquidity

Average Trading Volume

The average daily trading volume for the ProShares S&P 500u00ae ex-Financials ETF is substantial, indicating good liquidity.

Bid-Ask Spread

The bid-ask spread for this ETF is typically narrow, suggesting low trading costs for investors.

Market Dynamics

Market Environment Factors

The performance of SPAF is influenced by the overall health of the U.S. equity market, as well as specific sector trends excluding financials. Economic indicators such as GDP growth, inflation, interest rate policies, and consumer sentiment play a significant role. The exclusion of financials means its performance might differ from broader market indices during periods of financial sector stress or boom.

Growth Trajectory

The ETF's growth trajectory is tied to the performance of its underlying index. Any changes in the S&P 500u00ae ex-Financials Index's composition or sector weightings will be reflected in the ETF's holdings and performance. ProShares may periodically rebalance the ETF to ensure accurate tracking of the index.

Moat and Competitive Advantages

Competitive Edge

SPAF's primary competitive edge is its specific focus on excluding the Financials sector from the S&P 500, offering investors a tailored way to diversify away from potential financial sector volatility. This niche focus can appeal to investors seeking to reduce their exposure to banking and insurance industries. Its tracking of a well-regarded index also provides a reliable investment vehicle.

Risk Analysis

Volatility

The ETF's historical volatility is expected to be similar to or slightly lower than the broader S&P 500 index due to the exclusion of the historically volatile Financials sector. Specific sector performance can still lead to volatility.

Market Risk

The primary market risks include general equity market downturns, sector-specific risks in the included sectors (e.g., technology, healthcare), and tracking errors between the ETF and its underlying index.

Investor Profile

Ideal Investor Profile

The ideal investor for SPAF is one who wishes to invest in large-cap U.S. equities but wants to mitigate or eliminate exposure to the Financials sector. This could include investors concerned about financial sector regulation, cyclicality, or seeking to overweight other growth-oriented sectors.

Market Risk

SPAF is best suited for long-term investors who employ a passive investment strategy and are looking for broad U.S. equity market exposure with a specific sector exclusion. It can also be used by active traders seeking to express a view on sectors outside of financials.

Summary

The ProShares S&P 500u00ae ex-Financials ETF (SPAF) provides targeted exposure to large-cap U.S. equities while excluding the Financials sector. It aims to track the S&P 500u00ae ex-Financials Index with a low expense ratio, offering investors a way to diversify and manage risk. Its performance is closely tied to the broader equity market, minus the influence of financials. It appeals to investors seeking specific sector exclusion for strategic portfolio allocation.

Similar ETFs

Sources and Disclaimers

Data Sources:

  • ProShares Official Website
  • Financial Data Provider APIs (e.g., Bloomberg, Refinitiv, Yahoo Finance)
  • Index Provider (S&P Dow Jones Indices)

Disclaimers:

This information is for informational purposes only and does not constitute investment advice. Past performance is not indicative of future results. Investment involves risk, including the possible loss of principal. Investors should consult with a qualified financial advisor before making any investment decisions. Market share and competitor data are estimates and can vary.

Information icon for Upturn AI Summarization accuracy disclaimer AI Summarization is directionally correct and might not be accurate.

Information icon for Upturn AI Summarization data freshness disclaimer Summarized information shown could be a few years old and not current.

Information icon warning about Upturn AI Fundamental Rating based on potentially old data Fundamental Rating based on AI could be based on old data.

Information icon warning about potential inaccuracies or hallucinations in Upturn AI-generated summaries AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.

About ProShares S&P 500® ex-Financials ETF

Exchange NYSE ARCA
Headquaters -
IPO Launch date -
CEO -
Sector -
Industry -
Full time employees -
Website
Full time employees -
Website

Under normal circumstances, the fund will invest at least 80% of its total assets in component securities of the index. The index and fund seek to provide exposure to the companies of the S&P 500® Index (the S&P 500®) with the exception of those companies included in the Financials and Real Estate Sectors. It is non-diversified.