SEF vs. VLUE ETF Comparison

Comparison of ProShares Short Financials (SEF) to iShares MSCI USA Value Factor (VLUE)

SEF

ProShares Short Financials

SEF Description

The investment seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the Dow Jones U.S. FinancialsSM Index. The fund invests in derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as the inverse (-1x) of the daily return of the index. The index measures the performance of the financial services sector of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$34.22

Average Daily Volume

11,534

Number of Holdings ^*

* may have additional holdings in another (foreign) market

VLUE

iShares MSCI USA Value Factor

VLUE Description

The investment seeks to track the performance of MSCI USA Value Weighted Index that measures the performance of U.S. large- and mid-capitalization stocks with value characteristics and relatively lower valuations, before fees and expenses. The fund generally invests at least 90% of its assets in the securities of the underlying index or in depositary receipts representing securities in its underlying index. The MSCI USA Value Weighted Index (the "underlying index") is based on a traditional market capitalization-weighted parent index, the MSCI USA Index, which includes U.S. large- and mid- capitalization stocks.

Grade (RS Rating)

Last Trade

$114.13

Average Daily Volume

324,164

Number of Holdings ^*

148

* may have additional holdings in another (foreign) market

Performance

Period	SEF	VLUE
30 Days	-7.06%	4.45%
60 Days	-9.74%	5.68%
90 Days	-11.63%	7.63%
12 Months	-26.67%	25.66%

31 Overlapping Holdings

Symbol	Grade	Weight in SEF	Weight in VLUE	Overlap
AIG	B	0.77%	0.5%	0.5%
ALLY	C	0.19%	0.1%	0.1%
BAC	A	4.46%	2.25%	2.25%
BK	A	0.65%	0.47%	0.47%
C	A	2.98%	1.78%	1.78%
CFG	B	0.3%	0.26%	0.26%
COF	B	0.81%	0.66%	0.66%
CPT	B	0.18%	0.13%	0.13%
EG	C	0.19%	0.17%	0.17%
EQH	B	0.19%	0.12%	0.12%
FITB	A	0.35%	0.21%	0.21%
FNF	B	0.22%	0.09%	0.09%
GS	A	1.34%	1.43%	1.34%
HBAN	A	0.26%	0.17%	0.17%
HIG	B	0.37%	0.22%	0.22%
HST	C	0.22%	0.23%	0.22%
KEY	B	0.32%	0.13%	0.13%
L	A	0.23%	0.13%	0.13%
MAA	B	0.26%	0.19%	0.19%
MET	A	0.69%	0.46%	0.46%
MTB	A	0.36%	0.31%	0.31%
NLY	C	0.23%	0.11%	0.11%
PRU	A	0.66%	0.45%	0.45%
RF	A	0.27%	0.2%	0.2%
SPG	B	0.76%	1.26%	0.76%
STT	A	0.5%	0.26%	0.26%
SYF	B	0.36%	0.24%	0.24%
TFC	A	1.27%	0.54%	0.54%
USB	A	1.32%	0.48%	0.48%
WFC	A	3.19%	1.92%	1.92%
WY	D	0.39%	0.55%	0.39%

SEF Overweight 66 Positions Relative to VLUE

Symbol	Grade	Weight
BRK.A	B	7.56%
JPM	A	7.27%
V	A	5.88%
MA	C	4.83%
AMT	D	1.74%
AXP	A	1.49%
CME	A	1.25%
SPGI	C	1.22%
MS	A	1.19%
CB	C	1.17%
PNC	B	1.13%
BLK	C	1.06%
CCI	D	1.02%
PLD	D	1.0%
MMC	B	0.97%
SCHW	B	0.93%
ICE	C	0.91%
EQIX	A	0.84%
AON	A	0.83%
PGR	A	0.75%
MCO	B	0.7%
BX	A	0.67%
AFL	B	0.66%
ALL	A	0.64%
TRV	B	0.61%
WELL	A	0.59%
PSA	D	0.56%
TROW	B	0.52%
AVB	B	0.51%
SBAC	D	0.48%
EQR	B	0.48%
DLR	B	0.44%
WTW	B	0.44%
DFS	B	0.44%
O	D	0.42%
MSCI	C	0.4%
CSGP	D	0.4%
NTRS	A	0.39%
AMP	A	0.37%
VTR	C	0.37%
BXP	D	0.34%
CBRE	B	0.34%
ESS	B	0.34%
ARE	D	0.32%
ACGL	D	0.31%
DOC	D	0.3%
AJG	B	0.3%
INVH	D	0.28%
MKL	A	0.28%
CINF	A	0.27%
PFG	D	0.25%
MKTX	D	0.24%
WPC	D	0.24%
SUI	D	0.24%
EXR	D	0.24%
UDR	B	0.23%
ELS	C	0.22%
NDAQ	A	0.21%
RJF	A	0.2%
LNC	B	0.2%
MPW	F	0.19%
GL	B	0.18%
FDS	B	0.18%
REG	B	0.18%
VNO	B	0.18%
WRB	A	0.17%

SEF Underweight 117 Positions Relative to VLUE

Symbol	Grade	Weight
CSCO	B	-6.43%
T	A	-6.04%
IBM	C	-3.86%
INTC	D	-3.65%
GM	B	-3.6%
VZ	C	-2.91%
AMAT	F	-2.37%
PFE	D	-2.07%
RTX	C	-1.77%
F	C	-1.68%
BMY	B	-1.55%
LEN	D	-1.49%
CVS	D	-1.46%
MO	A	-1.45%
DHI	D	-1.4%
HPE	B	-1.4%
CI	F	-1.37%
GILD	C	-1.29%
HPQ	B	-1.19%
FDX	B	-1.18%
NXPI	D	-1.12%
GLW	B	-1.1%
CTSH	B	-1.1%
TEL	B	-1.02%
ELV	F	-0.97%
PHM	D	-0.94%
DELL	C	-0.84%
VLO	C	-0.78%
URI	B	-0.77%
PCAR	B	-0.76%
KR	B	-0.75%
KHC	F	-0.74%
WBD	C	-0.7%
ON	D	-0.67%
ADM	D	-0.65%
PCG	A	-0.63%
JCI	C	-0.61%
FANG	D	-0.6%
CMI	A	-0.6%
CNC	D	-0.57%
LHX	C	-0.53%
NTAP	C	-0.52%
EXPE	B	-0.48%
D	C	-0.47%
ZM	B	-0.47%
SWKS	F	-0.46%
VST	B	-0.45%
VTRS	A	-0.45%
NUE	C	-0.45%
MRO	B	-0.44%
TSN	B	-0.44%
GEN	B	-0.42%
FSLR	F	-0.38%
BBY	D	-0.38%
TAP	C	-0.38%
FFIV	B	-0.37%
BLDR	D	-0.36%
OC	A	-0.36%
CTRA	B	-0.35%
TWLO	A	-0.34%
FOXA	B	-0.33%
OVV	B	-0.33%
JNPR	F	-0.33%
WAB	B	-0.32%
PPL	B	-0.32%
JBL	B	-0.31%
EQT	B	-0.28%
PARA	C	-0.27%
EVRG	A	-0.27%
STLD	B	-0.27%
SSNC	B	-0.25%
DAL	C	-0.25%
LKQ	D	-0.24%
LH	C	-0.24%
TXT	D	-0.24%
UTHR	C	-0.23%
ATO	A	-0.23%
AZPN	A	-0.23%
SNA	A	-0.23%
DOW	F	-0.23%
CAG	D	-0.23%
WBA	F	-0.22%
SJM	D	-0.22%
LYB	F	-0.22%
ES	D	-0.22%
GPN	B	-0.21%
BG	F	-0.2%
EXE	B	-0.2%
LDOS	C	-0.19%
IP	B	-0.19%
RPRX	D	-0.19%
DGX	A	-0.19%
KNX	B	-0.19%
FOX	A	-0.18%
UHS	D	-0.18%
QRVO	F	-0.18%
MOS	F	-0.17%
CNH	C	-0.17%
CF	B	-0.16%
DINO	D	-0.16%
APA	D	-0.15%
AKAM	D	-0.14%
SOLV	C	-0.14%
APTV	D	-0.13%
SW	A	-0.13%
FCNCA	A	-0.12%
ACI	C	-0.12%
LUV	C	-0.12%
UHAL	D	-0.11%
FBIN	D	-0.11%
SWK	D	-0.1%
EMN	D	-0.1%
HII	D	-0.09%
DVA	B	-0.08%
BEN	C	-0.06%
WLK	D	-0.05%
BIO	D	-0.05%