Mon, 16/07/2018 - 15:23
ETF provider ProShares has launched the first ETF investing only in retailers principally selling online or through other non-store channels.
The ProShares Online Retail ETF (NYSE Arca: ONLN) focuses on the largest players in the space like Amazon and Alibaba, whose rise is, the company says, reshaping the retail world.
“Retail shopping is increasingly moving away from bricks-and-mortar stores and going digital, and the companies driving sales in this rapidly growing marketplace present an opportunity for investors,” says Michael L. Sapir, co-founder and CEO of ProShare Advisors, LLC, the advisor to ProShares. “Rather than investing in an individual company, investors can now get exposure to Amazon, Alibaba and other global leaders in online retail with a single ticker: ONLN,” Sapir says.
Analysts expect the growth of online retail to continue, the firm says. Today, about 10 per cent of global retail sales are made online, which leaves a strategy such as ONLN’s with tremendous room for growth. Recent data indicates that online sales growth could double by 2030.
ONLN expands ProShares' lineup of Retail Disruption ETFs, which includes ProShares Decline of the Retail Store (EMTY) and ProShares Long Online/Short Stores ETF (CLIX).
ONLN tracks the ProShares Online Retail Index. The index is designed to measure the performance of publicly traded companies that principally sell online or through other non-store channels, such as mobile or app purchases, rather than through bricks-and-mortar store locations. The index uses a modified market-capitalisation weighting approach. The ProShares Online Retail Index’s constituents may include US and non-US companies listed on a US stock exchange. Companies in the index must be classified as an online retailer, an e-commerce retailer, or an internet or direct marketing retailer, according to standard industry classification systems.
They must also have a market capitalisation of at least USD500 million and have a six-month daily average value traded of at least USD1 million and meet other requirements.
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