Chewy Scheduled to Enter ProShares Pet Care ETF (PAWZ)
BETHESDA, Md.--(BUSINESS WIRE)--Jun 21, 2019--
ProShares, a premier provider of ETFs, announced that Chewy Inc. (NYSE:CHWY), an online seller of pet supplies, is expected to be added to the ProShares Pet Care ETF (Cboe/Bats:PAWZ) on Friday, June 21.
PAWZ is the only ETF focused on the pet care industry. It gives investors the opportunity to gain broad exposure to public companies in the global pet care industry—companies like Chewy that stand to potentially benefit from the proliferation of pet ownership and the emerging trends affecting how we care for our pets.
“Chewy’s IPO offers further evidence of investor interest in the pet care industry, driven by the global trend of the humanization of pets,” said Steve Cohen, managing director at ProShares. “Investors are recognizing that pets are more than just loyal companions. They are big business.”
The ProShares Pet Care ETF seeks investment results, before fees and expenses, that track the FactSet Pet Care Index. FactSet announced the addition of Chewy to the FactSet Pet Care Index on June 19. The index is rebalanced monthly. With Chewy’s addition, the index will consist of 26 companies that provide exposure to potential growth within the global pet care industry.
ProShares has been at the forefront of the ETF revolution since 2006. ProShares now offers one of the largest lineups of ETFs, with more than $30 billion in assets. The company is the leader in strategies such as dividend growth, interest rate-hedged bond and geared (leveraged and inverse) ETF investing. ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns.
June 21, 2019
Access daily holdings for PAWZ at https://www.proshares.com/funds/pawz_daily_holdings.html.
Investing involves risk, including the possible loss of principal. This ProShares ETF is non-diversified and entails certain risks, including imperfect benchmark correlation and market price variance, that may decrease performance. The fund is subject to the risks faced by companies in the pet care industry. Although the pet care industry has historically seen steady growth and has been resilient to economic downturns, these trends may not continue or may reverse. Consumer tastes and preferences are difficult to forecast. Changing consumer preferences could have a negative impact on the revenue streams of companies in the pet care industry. Many companies in the pet care industry are small, independent producers and retailers. Investments in smaller companies typically exhibit higher volatility. Smaller company stocks also may trade at greater spreads or lower trading volumes, and may be less liquid than stocks of larger companies. The fund concentrates its investments in certain sectors. Narrowly focused investments typically exhibit higher volatility. Please see summary and full prospectuses for a more complete description of risks. There is no guarantee any ProShares ETF will achieve its investment objective.
Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing. Obtain them from your financial advisor or broker-dealer representative or visit ProShares.com.
The “FactSet Pet Care Index” and “FactSet” are trademarks of FactSet Research Systems Inc. and have been licensed for use by ProShares. ProShares have not been passed on by these entities or their affiliates as to their legality or suitability. ProShares based on the FactSet Pet Care Index are not sponsored, endorsed, sold, or promoted by FactSet Research Systems Inc., and it makes no representation regarding the advisability of investing in ProShares. THIS ENTITY AND ITS AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES. FactSet Research Systems Inc. does not guarantee the accuracy and/or the completeness of the FactSet Pet Care Index or any data included therein, and FactSet Research Systems Inc. shall have no liability for any errors, omissions, or interruptions therein.
ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the fund’s advisor.
©2019 PSA PR-2019-4372
View source version on businesswire.com:https://www.businesswire.com/news/home/20190621005390/en/
Hewes Communications, Inc.
KEYWORD: MARYLAND UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: BANKING ONLINE RETAIL PROFESSIONAL SERVICES HEALTH SPECIALTY RETAIL VETERINARY FINANCE
Copyright Business Wire 2019.
PUB: 06/21/2019 12:43 PM/DISC: 06/21/2019 12:43 PM