ProShares S&P Kensho Smart Factories ETF
Top 10 Holdings
What is MAKX?
ProShares S&P Kensho Smart Factories ETF seeks investment results, before fees and expenses, that track the performance of the S&P Kensho Smart Factories Index. ProShares S&P Kensho Smart Factories ETF is the first ETF focused on investing in companies that help businesses automate manufacturing activities by integrating physical assets with digital capabilities. The Index Provider categorizes selected companies as Core if factory digitalization products or services are determined to be principal business strategy components. All other selected companies are categorized as Non-Core . Securities are equal weighted within each category: Core securities are overweighted relative to Non-Core securities in the Index. The index includes U.S., non-U.S. developed and emerging market companies and is reconstituted annually and rebalanced semi-annually.
ETFs related toMAKX
ETFs correlated to MAKX include HIBL, SPHB, FXL
What is ETF correlation?
Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.
Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.
Using ETF correlations in portfolio and strategy construction
ETF correlations can help you create investing strategies and portfolios. Use them to:
- •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
- •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
- •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.
We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.
We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.