- Last Ratings Update:07/31/2014
- Price as of 07/31/2014 :$94.33
- Net Assets:$313.6 Million
- Peer Rank:72 of 280
- Investment Rating:B+
We rate ProShares Large Cap Core Plus at B+. This overall rating indicates it is among the top 10% of all closed end funds in its peer group. Positive factors that influence this rating include a well above average total return, low price volatility and low expense structure. The fund invests approximately 98% of its assets in stocks and may be considered for investors seeking an Equity Income strategy.
POSITIVES AND RISKS
Total return ranks very high in comparison with peers over the last three years. The ProShares Large Cap Core Plus has returned an annual rate of 19.68% since inception. More recently, the fund has generated a total return of 17.03% in the last five years, 20.94% in the last three years, and 17.96% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 82% of them. It has also outpaced 91% of its competitors on a three year basis and 79% of them over the last year for the period ending 7/31/2014. On a year to date basis, CSM has returned 7.76%.
Downside risk has been below average. CSM has a draw down risk of -13.11%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 12.9%. This fund has had moderate volatility in its monthly performance over the last 36 months. As of 7/31/2014, the fund was trading at a price of $94.33, which is 3.0% below its 52-week high of $97.22 and 0.0% above its 52-week low of $94.31.
High expense ratio hinders performance. On total assets of $313.60 million, CSM maintains a high expense ratio compared to its Equity Income peers of 0.75% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As CSM is an exchange traded fund, it has no front end or back end load.
The ProShares Large Cap Core Plus is managed by Charles Lowery at ProShare Advisors LLC. This fund is one of 145 ProShare Advisors LLC exchange-traded funds launched since 6/19/2006 that we track.
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