(REGL) ProShares S&P MidCap 400 - Overview

The ProShares S&P MidCap 400 Dividend Aristocrats ETF (BATS: REGL) seeks to replicate the performance of an index that selects mid-cap firms from the S&P MidCap 400 which have raised dividends for at least 15 consecutive years. The fund’s policy mandates that, under normal market conditions, at least 80 % of its net assets be allocated to securities that are constituents of the index or to proxy instruments with comparable economic characteristics.

Key quantitative points (as of the most recent filing) include an expense ratio of 0.45 %, assets under management of roughly $400 million, and a trailing-12-month dividend yield near 2.1 %. The portfolio is heavily weighted toward consumer staples, industrials, and financials-sectors that historically exhibit more stable cash flows and are less sensitive to cyclical downturns. Because dividend growth is a core screening criterion, the fund’s performance tends to be positively correlated with low-interest-rate environments that support equity valuations while also being vulnerable to rising rates that increase the cost of capital for dividend-paying firms.

Given the fund’s focus on sustained dividend increases, investors should monitor the broader macro-trend of corporate earnings stability and the health of the U.S. mid-cap segment, as a prolonged earnings slowdown could erode the ability of these companies to maintain their dividend-growth streaks.

For a deeper dive into the fund’s risk-adjusted returns and sector exposure, you might find ValueRay’s analytical dashboard useful.