ETF Evaluator:
ProShares S&P 500® ex-Technology ()
Follow This ETF
(as of Aug 26)
Best Performing in Large Blend Over the Last Year
| 62.5% | ARS Focused Opportunities Strategy ETF (AFOS) |
| 35.7% | Mohr Company Nav ETF (CNAV) |
| 33.9% | Impact Shares NAACP Minority Empwrmt ETF (NACP) |
| 31.8% | Astoria US Equal Weight Quality KingsETF (ROE) |
| 30.5% | FIS Bright Portfolios Focused Equity ETF (BRIF) |
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ETF Details
ProShares S&P 500® ex-Technology Overview
ProShares S&P 500® ex-Technology (SPXT) is a passively managed U.S. Equity Large Blend exchange-traded fund (ETF). ProShares launched the ETF in 2015.
The investment seeks investment results, before fees and expenses, that track the performance of the S&P 500® Ex-Information Technology Index (the "index").
The index is designed to measure the performance of the companies included in the S&P 500 Index with the exception of those companies included in the information technology sector. Under normal circumstances, the fund will invest at least 80% of its total assets in components of the index or in instruments with similar economic characteristics. It is non-diversified.
About ProShares S&P 500® ex-Technology (SPXT)
There are 2 members of the management team with an average tenure of 9.56 years: Michael Neches (2015) and Devin Sullivan (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 S&P 500 Ex-Infor Tech USD index with a weighting of 100%. ProShares S&P 500® ex-Technology has 431 securities in its portfolio. The top 10 holdings constitute 30.9% 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 S&P 500® ex-Technology is part of the Equity global asset class and is within the U.S. Equity ETF group. ProShares S&P 500® ex-Technology has 0.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.4% There is 0.5% 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 S&P 500® ex-Technology has 0.1% of the portfolio in cash.
Assets Under Management
The fund has $283 million in total assets, which is below the $13 billion average for the Large Blend 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.
SPXT 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 S&P 500® ex-Technology expense ratio is low compared to funds in the Large Blend category. ProShares S&P 500® ex-Technology has an expense ratio of 0.09%, which is 78% 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 S&P 500® ex-Technology has a portfolio turnover rate of 5%, which indicates that it holds its assets around / 0.2 years. By way of comparison, the average portfolio turnover is 158% for the Large Blend category.
Recently, in the month of July 2026, ProShares S&P 500® ex-Technology returned 2.0%, which earned it a grade of A, as the Large Blend category had an average return of -0.8%. 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 S&P 500® ex-Technology has a trailing yield of 1.34%, which is above the 1.16% category average.
The fund normally distributes its income quarterly.
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 S&P 500® ex-Technology Grades
Year to date, the ETF has returned 7.2%, 2.4 percentage points worse than the category, which translates into a grade of F. The fund has returned 16.0% over the past year (grade of D), 15.2% over the past three years (grade of D) and 9.6% per year over the past five years (grade of D) and 11.5% per year over the past 10 years (grade of F).
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SPXT 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 |
|
| SPXT Return (NAV) | 2.0% | 2.0% | 16.0% | 15.2% | 9.6% | 11.5% |
| SPXT Return (Price) | 2.1% | 2.9% | 16.2% | 15.3% | 9.6% | 11.5% |
| NAV +/- Price Return | -0.073% | -0.888% | -0.193% | -0.109% | -0.025% | -0.010% |
| Large Blend Avg | -0.8% | 3.7% | 17.5% | 17.4% | 11.2% | 13.6% |
| SPXT Grade (NAV) | A | F | D | D | D | F |
| +/- Category (NAV) | 2.8% | -1.7% | -1.6% | -2.2% | -1.6% | -2.2% |
| SPXT Tax-Cost Ratio | na | na | 0.5% | 0.5% | 0.5% | 0.5% |
SPXT Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SPXT Return (NAV) | 7.2% | 14.8% | 20.1% | 16.1% | -13.9% | 26.0% | 10.4% | 26.3% | -6.2% | 17.6% | 10.7% |
| SPXT Return (Price) | 7.1% | 15.1% | 19.9% | 16.3% | -14.2% | 26.4% | 10.4% | 26.9% | -7.1% | 17.0% | 8.8% |
| NAV +/- Price Ret | -0.009% | 0.020% | -0.008% | 0.009% | 0.020% | 0.012% | 0.006% | 2.2% | 14.5% | -3.7% | -18.3% |
| Large Blend Avg | 9.5% | 15.3% | 21.9% | 22.9% | -17.1% | 26.9% | 18.3% | 29.6% | -5.1% | 21.5% | 11.4% |
| SPXT Grade (NAV) | F | D | D | F | B | D | F | F | D | F | D |
| +/- Category | -2.4% | -0.5% | -1.8% | -6.8% | 3.1% | -0.8% | -8.0% | -3.3% | -1.1% | -3.9% | -0.6% |
| Risk Measures | |
| Beta: | 0.78 |
| R-Squared: | 78% |
| Standard Deviation: | 11.5% |
| Category Risk Index: | 0.85 |
| Category Risk Rating: | Low |
| Total Risk Index: | 0.94 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 1.3% |
| Total Assets: | $ 284 Mil |
| Share Class Assets: | $ 284 Mil |
| Turnover: | 5.0% |
| Expense Ratio: | 0.09% |
| Index Fund: | Yes |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 10.9 years | |||
| Average Tenure: 9.6 years | |||
| Managers (Year): Neches Michael (2015), Sullivan Devin (2018) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 431 |
| % in Top 10 Holdings: | 30.9% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.5% |
Portfolio Allocation |
|
| Domestic Stock: | 99.4% |
| Foreign Stock: | 0.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | ProShares |
| Phone Number: | 866-776-5125 |
| Website: | www.proshares.com |
| Inception Date: | September 22, 2015 |
Expenses and Fees
| Expense Ratio (%): | 0.09% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.41% |
