BETHESDA, MD.--(BUSINESS WIRE)--
ProShares, a premier provider of ETFs, announced today an exclusive licensing agreement with Solactive, a market leader in the indexing industry, for a new index that will benchmark the performance of traditional U.S. retail companies.
The Solactive-ProShares Bricks and Mortar Retail Store Index is the first comprehensive, public index composed of leading brands in the U.S. retail sector that rely principally on in-store sales. The index offers a broad measure of the health of this sector of the U.S. economy as it contends with the disruptive rise of e-commerce, an over-abundance of store space and other challenges.
“The rise of e-commerce, and Amazon in particular, is fundamentally reshaping the U.S. retail sector,” said Michael Sapir, co-founder and CEO of ProShare Advisors, LLC, the advisor to ProShares. “Shoppers are moving out of the aisles and onto the Internet. Investors, corporate decision-makers and others need tools to understand the impact of this consequential shift in our economy. This new index gives them a daily snapshot of the health of retailers that derive a very high percentage of their sales from in-store transactions.”
The index is composed of leading U.S. retailers across a broad range of categories and market segments, including Barnes & Noble, The Gap, Office Depot, Sears, Macy’s, Nordstrom, AutoZone, Costco, Dollar General, Best Buy, JCPenney, Home Depot, Tiffany and Target. The criteria for inclusion in the index is based on publicly traded U.S. companies with a market capitalization of more than $500 million, with at least 50% of their revenues from retail operations and 75% or more of retail revenues from in-store sales.
“We are excited to launch the Solactive-ProShares Bricks and Mortar Retail Store Index, licensed by one of the most innovative ETF companies in the world,” said Timo Pfeiffer, Head of Research at Solactive. “This new index will help investors track and understand the shifts happening in traditional U.S. retail.”
For more information on the ProShares Bricks and Mortar Retail Store Index or to follow its performance, please visit bricksandmortarindex.com
About the Index
To be included in the Solactive-ProShares Bricks and Mortar Retail Store Index, a retailer must:
• Be characterized as receiving at least 50% of its revenue from retail operations.
• Receive 75% or more of its retail revenues from in-store sales.
• Be a U.S. company.
In addition, a retailer must have a market capitalization of at least $500 million, a six-month daily average value traded of at least $1 million, and meet other requirements.
The index is rebalanced monthly and reconstituted annually.
ProShares has been at the forefront of the ETF revolution since 2006. ProShares now offers one of the largest lineups of ETFs, with more than $29 billion in assets. The company is the leader in strategies such as dividend growth, alternative and geared (leveraged and inverse). ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns.
Solactive AG is an innovative index provider that focuses on the development, calculation and distribution of tailor-made indices over all asset classes. As of January 2017, Solactive AG served approximately 350 clients in Europe, America and Asia, with approximately USD 100 billion invested in products linked to indices calculated by the Company globally, primarily via 250 Exchange Traded Funds from a number of well-known providers. Solactive AG was established in 2007 and is headquartered in Frankfurt. www.solactive.com
November 16, 2017
ProShares is the leader in dividend growth, alternative and geared (leveraged and inverse) strategies; Source: ProShares, Strategic Insight and Lipper, based on number of funds and/or assets, as of 12/31/16.
Retail revenue information for the Solactive-ProShares Bricks and Mortar Retail Store Index is based on Kantar Retail LLC data.
Investing involves risk, including the possible loss of principal. ProShares ETFs generally are non-diversified and entail certain risks, which may include risks associated with the use of derivatives (such as swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease performance. Please see the summary and full prospectuses for a more complete description of risks. Index constituents are subject to change. There is no guarantee any ProShares ETF will achieve its investment objective.
Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses . Read them carefully before investing. Obtain them at ProShares.com.
“Solactive AG”, a registered trademark of Solactive AG, and the Solactive-ProShares Bricks and Mortar Retail Store Index have been licensed for use by ProShare Advisors LLC (“ProShares”) in connection with the Decline of the Retail Store ETF. ProShares Long Online/Short Stores Index is owned by ProShares and licensed to the ProShares Long Online/Short Stores ETF. ProShares is solely responsible for overseeing the methodology governing the operation of Long Online/Short Stores Index and for adopting and implementing changes to such methodology. Solactive AG serves as index calculation agent for this Index and performs routine daily index calculations and index maintenance (e.g., annual Index reconstitution, quarterly rebalancing, and corporate actions) of this Index. The Funds are not sponsored, endorsed, sold, or promoted by Solactive AG and Solactive AG makes no representation regarding the legality or suitability of the Funds, or the advisability of investing in the Funds. SOLACTIVE AG AND ITS AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES AND THE FUNDS. Solactive AG does not offer any express or implicit guarantee or assurance either with regard to the results of using any Index and/or Index trade mark or any Index price at any time or in any other respect. Each Index is calculated and published by Solactive AG. Solactive AG uses its best efforts to ensure that the each Index is calculated correctly. Solactive AG has no obligation to point out errors in any Index to third parties, including but not limited to investors and/or financial intermediaries of the Fund. Neither publication of the Indexes by Solactive AG nor the licensing of any Index or Index trade mark for the purpose of use in connection with a Fund constitutes a recommendation by Solactive AG to invest capital in a Fund nor does it in any way represent an assurance or opinion of Solactive AG with regard to any investment in a Fund. The Funds are not sponsored, promoted, sold or supported in any other manner by Solactive AG, ProShares does not make any representation, warranty or guaranty, express or implied, as to the results to be obtained by the Funds or any other person from the use of any Index or the data therein.
ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds' advisor.
Copyright Business Wire 2017