SEF vs. FAS ETF Comparison

Comparison of ProShares Short Financials (SEF) to Direxion Financial Bull 3X Shares (FAS)

SEF

ProShares Short Financials

SEF Description

The investment seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the Dow Jones U.S. FinancialsSM Index. The fund invests in derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as the inverse (-1x) of the daily return of the index. The index measures the performance of the financial services sector of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$34.22

Average Daily Volume

11,534

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FAS

Direxion Financial Bull 3X Shares

FAS Description

The investment seeks daily investment results, before fees and expenses, of 300% of the performance of the Russell 1000Â® Financial Services Index. The fund, under normal circumstances, creates long positions by investing at least 80% of its assets in the securities that comprise the Russell 1000Â® Financial Services Index ("index") and/or financial instruments that provide leveraged and unleveraged exposure to the index. The index is a subset of the Russell 1000Â® Index that measures the performance of the securities classified in the financial services sector of the large cap U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$175.62

Average Daily Volume

588,047

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	SEF	FAS
30 Days	-7.06%	21.76%
60 Days	-9.74%	33.63%
90 Days	-11.63%	42.90%
12 Months	-26.67%	160.25%

59 Overlapping Holdings

Symbol	Grade	Weight in SEF	Weight in FAS	Overlap
ACGL	D	0.31%	0.37%	0.31%
AFL	B	0.66%	0.55%	0.55%
AIG	B	0.77%	0.48%	0.48%
AJG	B	0.3%	0.64%	0.3%
ALL	A	0.64%	0.51%	0.51%
AMP	A	0.37%	0.55%	0.37%
AON	A	0.83%	0.81%	0.81%
AXP	A	1.49%	1.6%	1.49%
BAC	A	4.46%	3.06%	3.06%
BK	A	0.65%	0.57%	0.57%
BLK	C	1.06%	1.44%	1.06%
BRK.A	B	7.56%	8.47%	7.56%
BX	A	0.67%	1.29%	0.67%
C	A	2.98%	1.29%	1.29%
CB	C	1.17%	1.07%	1.07%
CFG	B	0.3%	0.21%	0.21%
CINF	A	0.27%	0.23%	0.23%
CME	A	1.25%	0.8%	0.8%
COF	B	0.81%	0.69%	0.69%
DFS	B	0.44%	0.43%	0.43%
EG	C	0.19%	0.16%	0.16%
FDS	B	0.18%	0.19%	0.18%
FITB	A	0.35%	0.32%	0.32%
GL	B	0.18%	0.1%	0.1%
GS	A	1.34%	1.84%	1.34%
HBAN	A	0.26%	0.25%	0.25%
HIG	B	0.37%	0.34%	0.34%
ICE	C	0.91%	0.89%	0.89%
JPM	A	7.27%	6.8%	6.8%
KEY	B	0.32%	0.18%	0.18%
L	A	0.23%	0.15%	0.15%
MA	C	4.83%	4.24%	4.24%
MCO	B	0.7%	0.75%	0.7%
MET	A	0.69%	0.48%	0.48%
MKTX	D	0.24%	0.1%	0.1%
MMC	B	0.97%	1.08%	0.97%
MS	A	1.19%	1.63%	1.19%
MSCI	C	0.4%	0.47%	0.4%
MTB	A	0.36%	0.35%	0.35%
NDAQ	A	0.21%	0.32%	0.21%
NTRS	A	0.39%	0.21%	0.21%
PFG	D	0.25%	0.18%	0.18%
PGR	A	0.75%	1.49%	0.75%
PNC	B	1.13%	0.82%	0.82%
PRU	A	0.66%	0.44%	0.44%
RF	A	0.27%	0.24%	0.24%
RJF	A	0.2%	0.29%	0.2%
SCHW	B	0.93%	1.18%	0.93%
SPGI	C	1.22%	1.62%	1.22%
STT	A	0.5%	0.28%	0.28%
SYF	B	0.36%	0.25%	0.25%
TFC	A	1.27%	0.61%	0.61%
TROW	B	0.52%	0.26%	0.26%
TRV	B	0.61%	0.58%	0.58%
USB	A	1.32%	0.78%	0.78%
V	A	5.88%	5.09%	5.09%
WFC	A	3.19%	2.45%	2.45%
WRB	A	0.17%	0.18%	0.17%
WTW	B	0.44%	0.32%	0.32%

SEF Overweight 38 Positions Relative to FAS

Symbol	Grade	Weight
AMT	D	1.74%
CCI	D	1.02%
PLD	D	1.0%
EQIX	A	0.84%
SPG	B	0.76%
WELL	A	0.59%
PSA	D	0.56%
AVB	B	0.51%
SBAC	D	0.48%
EQR	B	0.48%
DLR	B	0.44%
O	D	0.42%
CSGP	D	0.4%
WY	D	0.39%
VTR	C	0.37%
BXP	D	0.34%
CBRE	B	0.34%
ESS	B	0.34%
ARE	D	0.32%
DOC	D	0.3%
INVH	D	0.28%
MKL	A	0.28%
MAA	B	0.26%
WPC	D	0.24%
SUI	D	0.24%
EXR	D	0.24%
NLY	C	0.23%
UDR	B	0.23%
HST	C	0.22%
ELS	C	0.22%
FNF	B	0.22%
LNC	B	0.2%
MPW	F	0.19%
ALLY	C	0.19%
EQH	B	0.19%
REG	B	0.18%
VNO	B	0.18%
CPT	B	0.18%

SEF Underweight 13 Positions Relative to FAS

Symbol	Grade	Weight
FI	A	-1.2%
KKR	A	-1.0%
PYPL	B	-0.87%
FIS	C	-0.48%
GPN	B	-0.29%
BRO	B	-0.26%
CPAY	A	-0.25%
CBOE	B	-0.21%
JKHY	D	-0.12%
AIZ	A	-0.11%
ERIE	D	-0.1%
IVZ	B	-0.08%
BEN	C	-0.07%