ETF Evaluator:
ProShares Long Online/Short Stores ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Long-Short Equity Over the Last Year
| 42.4% | Convergence Long/Short Equity ETF (CLSE) |
| 29.1% | Militia Long/Short Equity ETF (ORR) |
| 28.5% | Unlimited HFEQ Equity Long/Short ETF (HFEQ) |
| 25.5% | Harbor Long-Short Equity ETF (LSEQ) |
| 16.2% | Efficient Market Portfolio Plus ETF (EMPB) |
Risk
Index
Risk
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ETF Details
ProShares Long Online/Short Stores ETF Overview
ProShares Long Online/Short Stores ETF (CLIX) is a passively managed Nontraditional Equity Long-Short Equity exchange-traded fund (ETF). ProShares launched the ETF in 2017.
The investment seeks investment results, before fees and expenses, that track the performance of the ProShares Long Online/Short Stores Index (the "index").
The fund invests in financial instruments that ProShare Advisors believes, in combination, should track the performance of the index. The index consists of a 100% long position in the equity securities contained in the ProShares Online Retail Index (the “Online Index”) and a 50% short position in the equity securities contained in the Solactive-ProShares Bricks and Mortar Retail Store Index (the “Retail Store Index”). The fund is non-diversified.
About ProShares Long Online/Short Stores ETF (CLIX)
There are 2 members of the management team with an average tenure of 8.49 years: Michael Neches (2017) and Tarak Davé (2018). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and ProShares Long Online/Sht Strs TR USD index with a weighting of 100%. ProShares Long Online/Short Stores ETF has 31 securities in its portfolio. The top 10 holdings constitute 63.1% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
ProShares Long Online/Short Stores ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. ProShares Long Online/Short Stores ETF has 23.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 61.8% There is 23.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). ProShares Long Online/Short Stores ETF has 10.1% of the portfolio in cash.
Assets Under Management
The fund has $7 million in total assets, which is below the $320 million average for the Long-Short Equity category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
CLIX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The ProShares Long Online/Short Stores ETF expense ratio is above average compared to funds in the Long-Short Equity category. ProShares Long Online/Short Stores ETF has an expense ratio of 0.65%, which is 64% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. ProShares Long Online/Short Stores ETF has a portfolio turnover rate of 57%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 157% for the Long-Short Equity category.
Recently, in the month of July 2026, ProShares Long Online/Short Stores ETF returned 8.6%, which earned it a grade of A, as the Long-Short Equity category had an average return of -0.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
ProShares Long Online/Short Stores ETF has a trailing yield of 0.53%, which is below the 1.17% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
ProShares Long Online/Short Stores ETF Grades
Year to date, the ETF has returned -0.6%, 8.9 percentage points worse than the category, which translates into a grade of F. The fund has returned 7.5% over the past year (grade of F), 16.3% over the past three years (grade of B) and -4.1% per year over the past five years (grade of F).
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CLIX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| CLIX Return (NAV) | 8.6% | 1.2% | 7.5% | 16.3% | -4.1% | na |
| CLIX Return (Price) | 9.7% | 1.2% | 7.7% | 16.3% | -4.1% | na |
| NAV +/- Price Return | -1.111% | -0.015% | -0.252% | -0.032% | -0.012% | na |
| Long-Short Equity Avg | -0.0% | 3.1% | 14.5% | 14.1% | 7.8% | 12.2% |
| CLIX Grade (NAV) | A | D | F | B | F | na |
| +/- Category (NAV) | 8.6% | -1.8% | -7.0% | 2.2% | -12.0% | na |
| CLIX Tax-Cost Ratio | na | na | 0.2% | 0.1% | 0.1% | na |
CLIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CLIX Return (NAV) | -0.6% | 32.8% | 20.7% | 28.9% | -46.7% | -39.9% | 91.1% | 16.8% | 7.0% | na | na |
| CLIX Return (Price) | -1.0% | 33.4% | 20.7% | 29.0% | -46.7% | -40.0% | 91.0% | 17.3% | 6.3% | na | na |
| NAV +/- Price Ret | 0.592% | 0.019% | 0.002% | 0.004% | 0.000% | 0.001% | -0.001% | 3.3% | -9.3% | na | na |
| Long-Short Equity Avg | 8.3% | 8.4% | 17.1% | 13.7% | -9.2% | 8.7% | 28.9% | 15.9% | 0.1% | 15.9% | 9.6% |
| CLIX Grade (NAV) | F | A | B | A | F | F | A | A | A | na | na |
| +/- Category | -8.9% | 24.3% | 3.5% | 15.1% | -37.5% | -48.6% | 62.2% | 0.9% | 6.9% | na | na |
| Risk Measures | |
| Beta: | 0.91 |
| R-Squared: | 36% |
| Standard Deviation: | 19.7% |
| Category Risk Index: | 1.59 |
| Category Risk Rating: | High |
| Total Risk Index: | 1.60 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 0.5% |
| Total Assets: | $ 7 Mil |
| Share Class Assets: | $ 7 Mil |
| Turnover: | 57.0% |
| Expense Ratio: | 0.65% |
| Index Fund: | Yes |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 8.7 years | |||
| Average Tenure: 8.5 years | |||
| Managers (Year): Neches Michael (2017), Davé Tarak (2018) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 31 |
| % in Top 10 Holdings: | 63.1% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 23.6% |
Portfolio Allocation |
|
| Domestic Stock: | 61.8% |
| Foreign Stock: | 23.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 4.5% |
| Cash: | 10.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | ProShares |
| Phone Number: | 866-776-5125 |
| Website: | www.proshares.com |
| Inception Date: | November 14, 2017 |
Expenses and Fees
| Expense Ratio (%): | 0.65% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 1.83% |
