RALS
ProShares RAFI Long/Short ETF

Price: $31.22
Change: $0.14 (-0.0%)
Category: Long-Short
Last Updated:

Vitals

Issuer ProShares
Brand ProShares
Structure ETF
Expense Ratio 0.95%
ETF Home Page Home page
Inception Dec 09, 2010

Analyst Report

This ETF offers a unique twist on market neutral exposure, offering both long and short positions to U.S. stocks within a single portfolio. Given this objective, RALS can be expected to exhibit a low correlation with traditional asset classes, and as such can be a useful tool for investors looking to smooth overall volatility and who believe that the underlying methodology is capable of generating positive returns over the long run regardless of overall market direction. RALS should be appealing to those who believe that market capitalization weighting is inherently flawed, and that the fundamentals-based RAFI strategy offers a more rational way to achieve exposure to U.S. equities (essentially, that cap weighting has a tendency to overweight overvalued stocks and underweight undervalued companies). RALS essentially calculates the weight of various stocks based on multiple fundamental factors, and establishes long positions in those with a “RAFI weight” greater than their market cap weight (and vice versa). The methodology is sound, making RALS a useful tool for exploiting potential inefficiencies in cap weighted indexes. Investors shouldn’t expect huge returns in either direction; as a long/short fund, RALS is unlikely to make significant moves in either direction. One potential drawback is the expense ratio, which creates a material breakeven hurdle, especially considering the nature of the fund’s strategy.

ETF Database Themes

Category Long-Short
Asset Class Alternatives
Asset Class Size Large-Cap
Asset Class Style Blend
Region (General) North America
Region (Specific) U.S.

FactSet Classifications

  • Segment Alternatives: Absolute Returns
  • Category Absolute Returns
  • Focus Long/Short
  • Niche Long/Short Equity
  • Strategy Fundamental
  • Weighting Scheme Fundamental

Trading Data

Open - Volume -
Day Lo - Day Hi -
  • Open
  • Volume
  • Day Lo
  • Day Hi
  • 52 Week Lo $29.24
  • 52 Week Hi $33.12
  • AUM $5.0 M
  • Shares 0.2 M

Historical Trading Data

  • 1 Month Avg. Volume 791
  • 3 Month Avg. Volume 842

Alternative ETFs in the ETF Database Long-Short Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest CSM 0.46% $505.9 M 7,005 26.13%
Largest (AUM) QAI 0.79% $820.7 M 70,498 0.69%
Most Liquid (Volume) XYLD 0.60% $646.9 M 172,364 17.03%
Top YTD Performer CSM 0.46% $505.9 M 7,005 26.13%

Alternative ETFs in the FactSet Alternatives: Absolute Returns Segment

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest CPI 0.38% $55.2 M 4,811 0.98%
Largest (AUM) RPAR 0.51% $1.5 B 144,500 5.42%
Most Liquid (Volume) RPAR 0.51% $1.5 B 144,500 5.42%
Top YTD Performer RLY 0.50% $170.1 M 27,739 23.67%

Top 15 Holdings

Concentration Analysis

This section compares how balanced and deep this ETF is relative to its peers.

Holdings Comparison

RALS ETF Database Category Average FactSet Segment Average
Number of Holdings 1000 250 117
% of Assets in Top 10 16.05% 67.21% 71.16%
% of Assets in Top 15 21.21% 74.26% 79.05%
% of Assets in Top 50 41.78% 88.47% 94.81%

Size Comparison

RALS ETF Database Category Average FactSet Segment Average
Large (>12.9B) N/A 14.62% 2.27%
Mid (>2.7B) N/A 2.71% 0.11%
Small (>600M) N/A 1.61% 0.00%
Micro (<600M) N/A 0.11% 0.00%

RALS Valuation

This section compares the P/E ratio of this ETF to its peers.

RALS
P/E Ratio
19.36
ETF Database Category Average
P/E Ratio
15.78
FactSet Segment Average
P/E Ratio
15.16

RALS Dividend

This section compares the dividend yield of this ETF to its peers.

RALS ETF Database Category Average FactSet Segment Average
Dividend $ 0.07 $ 0.24 $ 0.37
Dividend Date 2021-09-22 N/A N/A
Annual Dividend Rate $ 0.37 $ 0.69 $ 0.55
Annual Dividend Yield 1.18% 1.98% 1.94%

RALS Price and Volume Chart

RALS Fund Flows

View charts featuring ETF fund flow data.

5 Day Net Flows: 0 1 Month Net Flows: 0 3 Month Net Flows: 0 6 Month Net Flows: 330.7 K 1 Year Net Flows: 235.64 K 3 Year Net Flows: -4.32 M 5 Year Net Flows: -32.51 M 10 Year Net Flows: -17.27 M

RALS Price vs Flows AUM Influence

View charts that break down the influence that fund flows and price had on overall assets.

Realtime Rating

The adjacent table gives investors an individual Realtime Rating for RALS on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETF Database Pro members, shows the ETF in the Long-Short with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETF Database Pro. To view information on how the ETF Database Realtime Ratings work, click here.

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity A n/a
Expenses B- n/a
Performance
Volatility
Dividend
Concentration

A+ Overall Rated ETF:

RALS Expenses & Fees

This section compares the cost efficiency of this ETF to its peers.

Expenses Ratio Analysis

RALS
Expense Ratio
0.95%
ETF Database Category Average
Expense Ratio
1.06%
FactSet Segment Average
Expense Ratio
1.01%

Tax Analysis

Max ST Capital Gains Rate 39.60%
Max LT Capital Gains Rate 20.00%
Tax On Distributions Qualified dividends
Distributes K1 No
ESG Themes and Scores
6.35/10
ESG Score
51.33%
Global Percentile
62.83%
Peer Percentile
    • Revenue Exposure to Environmental Impact (%)
      Higher is better, no ESG score impact
    • Severe Environment Controversies (%)
      Lower improves ESG score
    • Sustainable Impact Solutions (%)
      2.93%
      Higher is better, no ESG score impact
    • Weighted Average Carbon Intensity (Tons of CO2e / $M Sales)
      223.8
      Higher is worse, no ESG score impact
    • Fossil Fuel Reserves (%)
      Higher is worse, no ESG score impact
    • High Impact Fossil Fuel Reserves (%)
      Higher is worse, no ESG score impact
    • Water Stress High Risk Business Segment (%)
      Lower improves ESG score
    • Water Stress High Risk Geography (%)
      Lower improves ESG score
    • Water Stress Exposure Moderate (%)
      Lower improves ESG score
    • Water Stress Exposure High (%)
      Lower improves ESG score
    • Water Stress Exposure Low (%)
      Higher improves ESG score
    • Revenue Exposure to Energy Efficiency (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Alternative Energy (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Green Building (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Pollution Prevention (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Water Sustainability (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Social Impact (%)
      Higher is better, no ESG score impact
    • Sustainable Impact Solutions (%)
      2.93%
      Higher is better, no ESG score impact
    • SRI Exclusion Criteria (%)
      6.77%
      Higher is worse, no ESG score impact
    • Revenue Exposure to Affordable Real Estate (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Education (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Major Disease Treatment (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Nutrition (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Sanitation (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to SME Finance (%)
      Higher is better, no ESG score impact
    • Human Rights Norms Violation (%)
      Higher is worse, no ESG score impact
    • Human Rights Norms Violation OR Watch List (%)
      Higher is worse, no ESG score impact
    • Severe Human Rights Controversies (%)
      Lower improves ESG score
    • Labor Norms Violation (%)
      Higher is worse, no ESG score impact
    • Labor Norms Violation OR Watch List (%)
      Higher is worse, no ESG score impact
    • Severe Labor Controversies (%)
      Lower improves ESG score
    • Severe Customer Controversies (%)
      Lower improves ESG score
    • Global Compact Compliance Violation (%)
      Higher is worse, no ESG score impact
    • Global Compact Compliance Violation OR Watch List (%)
      Higher is worse, no ESG score impact
    • Catholic Values Fail (%)
      Higher is worse, no ESG score impact
    • Islamic Non-Compliant (%)
      Higher is worse, no ESG score impact
    • Adult Entertainment Involvement (%)
      Higher is worse, no ESG score impact
    • Alcohol Involvement (%)
      Higher is worse, no ESG score impact
    • Gambling Involvement (%)
      Higher is worse, no ESG score impact
    • Nuclear Power Involvement (%)
      Higher is worse, no ESG score impact
    • Tobacco Involvement (%)
      Higher is worse, no ESG score impact
    • Weapons Involvement (%)
      Higher is worse, no ESG score impact
    • Controversies Weapons Involvement (%)
      Higher is worse, no ESG score impact
    • Civilian Firearms Involvement (%)
      Higher is worse, no ESG score impact
    • Civilian Firearms Retailer (%)
      Higher is worse, no ESG score impact
    • Civilian Firearms Producer (%)
      Higher is worse, no ESG score impact
    • Direct Predatory Lending Involvement (%)
      Higher is worse, no ESG score impact
    • Genetic Engineering Involvement (%)
      Higher is worse, no ESG score impact
    • Severe Governance Controversies (%)
      Lower improves ESG score
    • Board Flag (%)
      Lower improves ESG score
    • Lack of Independent Board Majority (%)
      Lower improves ESG score
    • Board Independence (0-25%) (%)
      Lower improves ESG score
    • Board Independence (25-50%) (%)
      Lower improves ESG score
    • Board Independence (50-75%) (%)
      Higher improves ESG score
    • Board Independence (75-100%) (%)
      Higher improves ESG score
    • No Female Directors (%)
      Lower improves ESG score
    • Three OR More Female Directors (%)
      Higher improves ESG score
    • Females Represent 30% of Directors (%)
      Higher improves ESG score
    • Entrenched Board (%)
      Lower improves ESG score
    • Overboarding (%)
      Lower improves ESG score
    • Negative Director Votes (%)
      Lower improves ESG score
    • Ownership AND Control Flag (%)
      Lower improves ESG score
    • One Share One Vote (%)
      Lower improves ESG score
    • No Annual Director Elections (%)
      Lower improves ESG score
    • Does Not Use Majority Voting (%)
      Lower improves ESG score
    • Significant Votes Against Pay Practices (%)
      Lower improves ESG score
    • Controlling Shareholder (%)
      Lower improves ESG score
    • Controlling Shareholder Concerns (%)
      Lower improves ESG score
    • Cross Shareholdings (%)
      Lower improves ESG score
    • Poison Pill (%)
      Lower improves ESG score
    • Pay Flag (%)
      Lower improves ESG score
    • No Pay Performance Link (%)
      Lower improves ESG score
    • Lack of Internal Pay Equity (%)
      Lower improves ESG score
    • Executive Pay Non-Disclosure (%)
      Lower improves ESG score
    • Accounting Flag (%)
      Lower improves ESG score

RALS Performance

This section shows how this ETF has performed relative to its peers.

RALS ETF Database
Category Average
Factset Segment
Average
1 Month Return 1.12% 1.09% 1.32%
3 Month Return 0.33% 1.44% 1.91%
YTD Return 3.18% 7.18% 7.55%
1 Year Return 5.92% 8.74% 10.93%
3 Year Return -9.81% 15.41% 11.10%
5 Year Return -12.99% 20.15% 12.62%

Geographic Exposure

The following charts reflect the geographic spread of RALS's underlying holdings.

Holdings Analysis

The following charts reflect the allocation of RALS's underlying holdings.

RALS Technicals

Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group ETF Database Category.

5 Day Volatility
20.11%
Rank
14 of 21

20 Day Volatility
6.56%
Rank
16 of 21

50 Day Volatility
5.17%
Rank
18 of 21

200 Day Volatility
5.75%
Rank
18 of 21

Beta
0.04
Rank
17 of 21

Standard Deviation
0.93%
Rank
13 of 18

Technicals

  • 20 Day MA $31.40
  • 60 Day MA $31.15
  • MACD 15 Period -0.23
  • MACD 100 Period -0.22
  • Williams % Range 10 Day 100.00
  • Williams % Range 20 Day 66.24
  • RSI 10 Day 43
  • RSI 20 Day 48
  • RSI 30 Day 48
  • Ultimate Oscillator 32

Bollinger Bands

  • Lower Bollinger (10 Day) $31.16
  • Upper Bollinger (10 Day) $31.65
  • Lower Bollinger (20 Day) $31.07
  • Upper Bollinger (20 Day) $31.74
  • Lower Bollinger (30 Day) $30.63
  • Upper Bollinger (30 Day) $31.81

Support & Resistance

  • Support Level 1 $31.22
  • Support Level 2 $31.22
  • Resistance Level 1 $31.22
  • Resistance Level 2 $31.22

Stochastic

  • Stochastic Oscillator %D (1 Day) 41.27
  • Stochastic Oscillator %D (5 Day) 17.40
  • Stochastic Oscillator %K (1 Day) 35.10
  • Stochastic Oscillator %K (5 Day) 20.55

Financial Advisor Report

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Fact Sheet

Fact sheets are issued by the ETF provider and framed by ETF Database. Information contained within the fact sheet is not guaranteed to be timely or accurate.

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Analyst Report Authors

ETF Database analysts have a combined 50 years in the ETF and Financial markets, covering every asset class and investment style. The team monitors new filings, new launches and new issuers to make sure we place each new ETF in the appropriate context so Financial Advisors can construct high quality portfolios.

Disclosures

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Copyright MSCI ESG Research LLC [2018]. All Rights Reserved. MSCI ESG Research LLC’s (“MSCI ESG”) Fund Metrics products (the “Information”) provide environmental, social and governance data with respect to underlying securities within more than 23,000 multi-asset class Mutual Funds and ETFs globally. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG materials have not been submitted, to nor received approval from, the US SEC or any other regulatory body. None of the information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. All Information is provided solely for your internal use, and may not be reproduced or redisseminated in any form without express prior written permission from MSCI. Neither MSCI ESG nor any of its affiliates or any third party involved in or related to creating any Information makes any express or implied warranties, representations or guarantees, and in no event will MSCI ESG or any such affiliate or third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any Information. More information on MSCI ESG Fund Metrics, provided by MSCI ESG Research LLC, can be found at https://www.msci.com/esg-fund-metrics.
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