ETF Spotlight: Long/Short Large-Caps

ETFtrends.com
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ETF Spotlight on the ProShares Large Cap Core Plus (CSM) , part of an ongoing series.

Assets : $205.1 million

Objective : The ProShares Large Cap Core Plus fund tries to reflect the performance of the Credit Suisse 130/30 Large Cap Index, which overweights attractive stocks while taking a short position in unfavorable stocks.

Holdings : Top holdings include Apple (AAPL) 2.0%, Exxon Mobil (XOM) 1.6%, Berkshire Hathaway Inc. Class B (BRK-B) 1.3%, Wells Fargo & Co (WFC) 1.3% and Microsoft (MSFT).

What You Should Know :

  • ProShares sponsors the fund.

  • CSM has a 0.45% expense ratio.

  • The fund is long 280 companies, and the top ten make up 12.3% of the overall portfolio.

  • Market capitalization breakdown includes mega-caps 30.8%, large-caps 35.1% and mid-caps 33.8%.

  • Sector allocations include basic materials 4.1%, consumer cyclical 11.0%, financial services 17.3%, real estate 3.0%, telecom services 3.6%, energy 9.5%, industrials 9.4%, tech 16.3%, consumer defensive 10.2%, healthcare 9.8% and utilities 5.8%.

  • The ETF is up 4.6% over the past month, up 3.7% in the last three months and up 28.3% year-to-date.

  • The underlying index overweights long positions in stocks with a favorable outlook but caps it to 30% overweight.

  • The index also takes short positions in stocks with an unfavorable outlook but limits it to 30% short.

  • CSM essentially takes a 130% long position and a 30% short position in a basket of large-cap stocks.

  • The index reconstitutes holdings on a monthly basis.

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