ETF Evaluator:
ProShares Online Retail ETF (ONLN)
Follow This ETF
(as of Jul 31)
Best Performing in Consumer Cyclical Over the Last Year
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Risk
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Risk
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ETF Details
ProShares Online Retail ETF Overview
ProShares Online Retail ETF (ONLN) is a passively managed Sector Equity Consumer Cyclical exchange-traded fund (ETF). ProShares launched the ETF in 2018.
The investment seeks investment results, before fees and expenses, that track the performance of the ProShares Online Retail Index (the index).
The fund invests in financial instruments that ProShare Advisors believes, in combination, should track the performance of the index. The index is designed to measure the performance of U.S.-listed companies deemed to be “Online Retailers.”Under normal circumstances, it will invest at least 80% of its total assets in components of the index or in instruments with similar economic characteristics. The fund is non-diversified.
About ProShares Online Retail ETF (ONLN)
There are 2 members of the management team with an average tenure of 7.97 years: Michael Neches (2018) 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 Global 1200 TR index with a weighting of 100% and ProShares Online Retail USD index with a weighting of 100%. ProShares Online Retail ETF has 22 securities in its portfolio. The top 10 holdings constitute 76.3% 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 Online Retail ETF is part of the Equity global asset class and is within the Sector Equity ETF group. ProShares Online Retail ETF has 18.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 81.1% There is 18.9% 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 Online Retail ETF has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $62 million in total assets, which is below the $1 billion average for the Consumer Cyclical 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.
ONLN 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 Online Retail ETF expense ratio is average compared to funds in the Consumer Cyclical category. ProShares Online Retail ETF has an expense ratio of 0.58%, which is 36% higher than its category average, making the fund expense ratio grade a D. 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 Online Retail ETF has a portfolio turnover rate of 59%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 29% for the Consumer Cyclical category.
Recently, in the month of June 2026, ProShares Online Retail ETF returned -5.2%, which earned it a grade of F, as the Consumer Cyclical category had an average return of 1.8%. 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 Online Retail ETF has a trailing yield of 0.31%, which is below the 1.06% 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 Online Retail ETF Grades
Year to date, the ETF has returned -7.9%, 7.4 percentage points worse than the category, which translates into a grade of F. The fund has returned 7.6% over the past year (grade of C), 18.8% over the past three years (grade of A) and -7.4% per year over the past five years (grade of F).
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ONLN Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ONLN Return (NAV) | -5.2% | 2.4% | 7.6% | 18.8% | -7.4% | na |
| ONLN Return (Price) | -5.2% | 2.4% | 7.6% | 18.7% | -7.5% | na |
| NAV +/- Price Return | -0.000% | 0.034% | 0.092% | 0.043% | 0.028% | na |
| Consumer Cyclical Avg | 1.8% | 10.6% | 5.6% | 11.1% | 1.9% | 10.9% |
| ONLN Grade (NAV) | F | F | C | A | F | na |
| +/- Category (NAV) | -7.0% | -8.2% | 2.0% | 7.6% | -9.4% | na |
| ONLN Tax-Cost Ratio | na | na | 0.1% | 0.1% | 0.1% | na |
ONLN Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ONLN Return (NAV) | -7.9% | 32.9% | 24.3% | 27.3% | -50.1% | -25.1% | 111.4% | 20.1% | na | na | na |
| ONLN Return (Price) | -8.0% | 33.0% | 24.2% | 27.4% | -50.1% | -25.2% | 111.9% | 19.9% | na | na | na |
| NAV +/- Price Ret | 0.007% | 0.003% | -0.004% | 0.002% | 0.000% | 0.004% | 0.005% | -0.9% | na | na | na |
| Consumer Cyclical Avg | -0.5% | 8.1% | 17.0% | 30.5% | -30.4% | 17.0% | 38.6% | 26.9% | -8.6% | 25.0% | 5.1% |
| ONLN Grade (NAV) | F | A | B | C | F | F | A | D | na | na | na |
| +/- Category | -7.4% | 24.8% | 7.2% | -3.2% | -19.7% | -42.2% | 72.7% | -6.8% | na | na | na |
| Risk Measures | |
| Beta: | 1.45 |
| R-Squared: | 52% |
| Standard Deviation: | 25.5% |
| Category Risk Index: | 1.25 |
| Category Risk Rating: | High |
| Total Risk Index: | 2.09 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 0.3% |
| Total Assets: | $ 63 Mil |
| Share Class Assets: | $ 63 Mil |
| Turnover: | 59.0% |
| Expense Ratio: | 0.58% |
| Index Fund: | Yes |
| Index Tracked: | S&P Global 1200 TR |
| 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: 8.0 years | |||
| Average Tenure: 8.0 years | |||
| Managers (Year): Neches Michael (2018), Davé Tarak (2018) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 22 |
| % in Top 10 Holdings: | 76.3% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 18.9% |
Portfolio Allocation |
|
| Domestic Stock: | 81.1% |
| Foreign Stock: | 18.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | ProShares |
| Phone Number: | 866-776-5125 |
| Website: | www.proshares.com |
| Inception Date: | July 13, 2018 |
Expenses and Fees
| Expense Ratio (%): | 0.58% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.43% |
