PROSHARES S&P KENSHO CLEANTECH ETF (CTEX) Report

What this ETF is trying to do

The PROSHARES S&P KENSHO CLEANTECH ETF (CTEX) is an exchange-traded fund designed to invest in the clean technology sector. It focuses on companies involved in clean energy and related technologies.

What the numbers show

The performance of CTEX varies depending on how you measure it. It is important to know the difference between "price return" (just the change in share price) and "total return" (the change in share price plus any distributions paid out).

• Year-to-Date (YTD): The YTD price return is approximately -13.06%, while the YTD total return is approximately -12.91%.

• One-Year: The one-year price return is approximately -10.97%, and the one-year total return is approximately -9.23%.

• Three-Year: Over the last three years, the price return was approximately 29.85%, and the total return was approximately 33.84%.

• Five-Year: The five-year total return is approximately -22.04%.

An estimated price from roughly one year ago was $34.39, compared to the current price of $30.62.

Income and distribution explanation

CTEX provides some cash distributions to investors, but they are not frequent. The distribution yield is approximately 2.32%. Over the last 12 months, there were 2 payouts. The distribution frequency is described as "irregular" or "less frequent."

NAV erosion explanation

The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.

Regarding price erosion, the fund has an erosion-risk score of 75, which is labeled as "mild price erosion." This means the market price has shown some signs of declining over time. However, there is no severe erosion-risk flag for this ETF.

Top Holdings

The following are the top holdings in the portfolio (note that this list is partial):

• ARCOSA INC: 6.11%

• BLOOM ENERGY CORP CLASS A: 5.19%

• FUELCELL ENERGY INC: 4.63%

• GE VERNOVA INC: 4.59%

• RENEW ENERGY GLOBAL PLC ORDINARY SHARES CLASS A: 4.59%

• SHOALS TECHNOLOGIES GROUP INC ORDINARY SHARES CLASS A: 4.28%

• GENERAC HOLDINGS INC: 4.15%

• ENERGY VAULT HOLDINGS INC: 4.02%

• FIRST SOLAR INC: 3.87%

• HYSTER YALE INC CLASS A: 3.65%

Pros

• The fund has shown a positive total return over a three-year period.

• It provides a distribution yield of approximately 2.32%.

Cons

• The fund has experienced a share-price decline in both the one-year and year-to-date periods.

• The five-year total return is negative.

• Distributions are irregular and less frequent.

Beginner takeaway

CTEX focuses on clean technology companies. While it has shown growth over a three-year window, recent one-year and year-to-date numbers show a decline in share price. Investors looking for regular income should note that the distributions are irregular. Always remember that a distribution yield is not the same as total return.