ONLN ETF — Holdings & Analysis

The fund's expense ratio is 0.58%, slightly higher than the category average, reflecting its specialized focus. ONLN's concentrated portfolio and sector focus differentiate it from broader equity ETFs, offering investors a targeted approach to capitalize on the growth of online retail.

ProShares - Online Retail ETF (ONLN) ETF — Price, Holdings & Analysis

The ProShares Online Retail ETF (ONLN) provides focused exposure to companies disrupting traditional brick-and-mortar retail. With approximately $0.06 billion in assets under management, ONLN tracks an index of companies primarily selling online or through non-store channels. The fund's expense ratio is 0.58%, slightly higher than the category average, reflecting its specialized focus. ONLN's concentrated portfolio and sector focus differentiate it from broader equity ETFs, offering investors a targeted approach to capitalize on the growth of online retail.

ETF Overview

Under normal circumstances, the fund will invest at least 80% of its total assets in component securities of the index. The index is designed to measure the performance of publicly traded companies that principally sell online or through other non-store sales channels, such as through mobile or app purchases, rather than through "brick and mortar" store locations. The fund is non-diversified.

The ProShares Online Retail ETF (ONLN) is designed for investors seeking targeted exposure to the online retail sector. ONLN invests at least 80% of its assets in the component securities of its underlying index, which focuses on companies that generate a significant portion of their revenue through online or non-store sales channels. This includes e-commerce giants, online marketplaces, and companies utilizing mobile or app-based sales platforms. The fund's top holdings reflect this strategy, with significant allocations to companies like Amazon.com Inc (23.11%), Alibaba Group Holding Ltd ADR (8.18%), and eBay Inc (7.41%). ONLN's sector allocation is heavily weighted towards Consumer Cyclical (94.1%), with smaller allocations to Technology (5.4%) and Consumer Defensive (0.5%). This concentrated sector exposure makes it suitable for investors with a strong conviction in the continued growth of online retail, but it also introduces sector-specific risks.

Risk Metrics

Investing in the ProShares Online Retail ETF (ONLN) involves several key risk considerations. The fund's non-diversified structure and concentrated holdings increase its sensitivity to the performance of a small number of companies; for example, Amazon.com Inc. accounts for 23.11% of the portfolio. The fund's sector allocation is heavily concentrated in Consumer Cyclical (94.1%), making it vulnerable to economic downturns and changes in consumer spending habits. With a 3-year beta of 1.80, ONLN exhibits significantly higher volatility compared to the broader market. The expense ratio of 0.58% can create a drag on returns, especially in periods of underperformance. Investors should carefully consider their risk tolerance and investment horizon before investing in ONLN.

Expense Ratio

0.58%

What does ONLN hold?

Holding	Weight
Amazon.com Inc (AMZN)	23.11%
Alibaba Group Holding Ltd ADR (BABA)	8.18%
eBay Inc (EBAY)	7.41%
FIGS Inc Class A (FIGS)	6.29%
GigaCloud Technology Inc Class A (GCT)	5.39%
Buckle Inc (BKE)	5.10%
Coupang Inc Ordinary Shares - Class A (CPNG)	4.80%
PDD Holdings Inc ADR (PDD)	4.79%
Carvana Co Class A (CVNA)	4.61%
Etsy Inc (ETSY)	4.44%

How Is the Fund Allocated?

Sector	Weight
Consumer Cyclical	94.1%
Technology	5.4%
Consumer Defensive	0.5%

Country	Weight
United States	68.6%
China	17.4%
Korea (the Republic of)	4.6%
Ireland	3.4%
Uruguay	2.3%
Israel	2.0%
Singapore	1.7%
Other	0.1%

Dividend Yield

0.00%

State Street Technology Select Sector SPDR ETF (XLK) — 0.08% expense ratio
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Invesco QQQ Trust, Series 1 (QQQ) — 0.18% expense ratio
State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) — 0.16% expense ratio
iShares Russell 2000 ETF (IWM) — 0.19% expense ratio
State Street Financial Select Sector SPDR ETF (XLF) — 0.08% expense ratio
iShares MSCI Emerging Markets ETF (EEM) — 0.72% expense ratio
iShares MSCI EAFE ETF (EFA) — 0.32% expense ratio

ProShares - Ultra Health Care (RXL) (Equity) — 1.07% expense ratio
ProShares - DJ Brookfield Global Infrastructure ETF (TOLZ) (Equity) — 0.46% expense ratio
ProShares - UltraShort Yen (YCS) (Alternatives) — 0.95% expense ratio
ProShares - Ultra Nasdaq Cloud Computing (SKYU) (Equity) — 5.04% expense ratio
ProShares - Russell U.S. Dividend Growers ETF (TMDV) (Equity) — 0.35% expense ratio
ProShares - S&P 500 Dividend Aristocrats ETF (NOBL) (Equity) — 0.35% expense ratio

Risk Metrics

Beta: 1.80

Questions & Answers

What is ONLN and what does it track?

The ProShares Online Retail ETF (ONLN) is an exchange-traded fund that seeks to track the performance of publicly traded companies that principally sell online or through other non-store sales channels.

This includes companies that conduct sales through mobile or app purchases, rather than through traditional brick-and-mortar store locations.

What is the expense ratio for ONLN?

The expense ratio for the ProShares Online Retail ETF (ONLN) is 0.58%. This means that for every $10,000 invested in the fund, $58 is used to cover annual operating expenses.

While this is not the highest expense ratio among ETFs, it is slightly higher than the average expense ratio for equity ETFs, which is around 0.44%.

What are the top holdings in ONLN?

The ProShares Online Retail ETF (ONLN) has a concentrated portfolio, with its top holdings representing a significant portion of its assets.

As of 2026-03-15, the top three holdings in ONLN are Amazon.com Inc (23.11%), Alibaba Group Holding Ltd ADR (8.18%), and eBay Inc (7.41%).

Is ONLN a good long-term investment?

Whether the ProShares Online Retail ETF (ONLN) is a suitable long-term investment depends on an investor's individual circumstances, risk tolerance, and investment goals. ONLN offers targeted exposure to the online retail sector, which has experienced significant growth in recent years.

However, the fund's concentrated holdings and sector-specific focus introduce risks that investors should carefully consider.

How does ONLN compare to similar ETFs?

The ProShares Online Retail ETF (ONLN) distinguishes itself through its focused strategy on online retail companies. Compared to broader e-commerce ETFs, ONLN offers a more concentrated exposure.

Its expense ratio of 0.58% is comparable to other specialized ETFs, but higher than broad market ETFs.

Does ONLN pay dividends?

As of 2026-03-15, the ProShares Online Retail ETF (ONLN) has a dividend yield of 0.00%. This indicates that the fund does not currently distribute any dividends to its shareholders.

Investors seeking income-generating investments may want to consider other ETFs with a history of paying dividends. However, ONLN's primary focus is on capital appreciation through the growth of online retail companies, rather than dividend income.