Allocation

The sector and country labels here are computed by us from company filings, not taken from ProShares. The fund publishes a breakdown of its own under a different classification scheme, so the two will not agree line for line. Expect familiar companies under slightly different headings, and expect the occasional name to sit in a sector you would not have put it in.

Equal weighting makes this page read unlike a normal fund's. Every NOBL member carries roughly the same weight, so a sector's share of the book is close to its share of the membership. The sector chart is a headcount, near enough, rather than a ranking by company size, and the concentration figures show the same thing: the effective number of holdings sits close to the actual number, which is the structure working as designed. Country is nearly a single bar, since the index draws only from the S&P 500.