RXL ETF — Holdings & Analysis

The ProShares Ultra Health Care ETF (RXL) is designed for investors seeking amplified daily exposure to the health care sector.

With approximately $0.08 billion in assets under management, RXL aims to deliver twice the daily performance of the S&P Health Care Select Sector Index. However, this leveraged approach comes with a higher expense ratio of 1.07%, significantly above the category average. The fund's top holdings include ProShares GENIUS Money Market ETF (IQMM), Eli Lilly and Co (LLY), and Johnson & Johnson (JNJ), reflecting a concentrated bet on leading healthcare companies.

ProShares - Ultra Health Care (RXL) ETF — Price, Holdings & Analysis

The ProShares Ultra Health Care ETF (RXL) is designed for investors seeking amplified daily exposure to the health care sector. With approximately $0.08 billion in assets under management, RXL aims to deliver twice the daily performance of the S&P Health Care Select Sector Index. However, this leveraged approach comes with a higher expense ratio of 1.07%, significantly above the category average. The fund's top holdings include ProShares GENIUS Money Market ETF (IQMM), Eli Lilly and Co (LLY), and Johnson & Johnson (JNJ), reflecting a concentrated bet on leading healthcare companies.

ETF Overview

ProShares Ultra Health Care seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the S&P Health Care Select SectorSM Index.

ProShares Ultra Health Care (RXL) employs a leveraged strategy, seeking to provide two times the daily performance of the S&P Health Care Select Sector Index. This approach is designed for sophisticated investors with a short-term horizon who are looking to capitalize on anticipated daily movements in the health care sector. The fund achieves this through a combination of equity holdings and derivatives. RXL's portfolio is concentrated, with its top holdings including ProShares GENIUS Money Market ETF (IQMM) at 10.73%, Eli Lilly and Co (LLY) at 10.22%, and Johnson & Johnson (JNJ) at 7.33%. Sector allocation is heavily weighted towards Healthcare at 74.1%, followed by Cash & Others at 14.1% and Financial Services at 11.8%. RXL's leveraged nature differentiates it from traditional healthcare ETFs, which typically offer unleveraged exposure to the sector. Investors should understand that leveraged ETFs are not designed for long-term holding and can experience significant volatility.

Risk Metrics

Investing in RXL involves several risks that investors should carefully consider. As a leveraged ETF, RXL is subject to amplified volatility, meaning that both gains and losses can be magnified. The fund's 3-year beta of 1.06 indicates that it is slightly more volatile than the market. The high expense ratio of 1.07% can create a significant drag on performance over time, especially when compounded by the effects of leverage. RXL's concentration in the health care sector (74.1%) exposes it to sector-specific risks, such as regulatory changes, patent expirations, and shifts in healthcare policy. Furthermore, the fund's top holdings, including Eli Lilly and Johnson & Johnson, represent a significant portion of the portfolio, increasing concentration risk. Due to the fund's leveraged nature, past performance does not guarantee future results.

Expense Ratio

1.07%

What does RXL hold?

Holding	Weight
ProShares GENIUS Money Market ETF (IQMM)	10.73%
Eli Lilly and Co (LLY)	10.22%
Johnson & Johnson (JNJ)	7.33%
AbbVie Inc (ABBV)	5.02%
Merck & Co Inc (MRK)	3.76%
UnitedHealth Group Inc (UNH)	3.25%
Amgen Inc (AMGN)	2.56%
Abbott Laboratories (ABT)	2.48%
Thermo Fisher Scientific Inc (TMO)	2.40%

How Is the Fund Allocated?

Sector	Weight
Healthcare	74.1%
Cash & Others	14.1%
Financial Services	11.8%

Country	Weight
United States	83.3%
Other	14.8%
Ireland	1.8%

Dividend Yield

0.00%

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Risk Metrics

Beta: 1.06

Questions & Answers

What is RXL and what does it track?

ProShares Ultra Health Care (RXL) is an exchange-traded fund (ETF) that seeks to provide daily investment results, before fees and expenses, corresponding to two times (2x) the daily performance of the S&P Health Care Select Sector Index.

What is the expense ratio for RXL?

The expense ratio for ProShares Ultra Health Care (RXL) is 1.07%. This means that for every $10,000 invested in the fund, $107 is deducted annually to cover operating expenses.

This expense ratio is significantly higher than the average expense ratio for equity ETFs, which is around 0.44%.

What are the top holdings in RXL?

As of 2026-03-15, the top holdings in ProShares Ultra Health Care (RXL) are: 1) ProShares GENIUS Money Market ETF (IQMM) at 10.73%, which is used for cash management; 2) Eli Lilly and Co (LLY) at 10.22%, a major pharmaceutical company;…

3) Johnson & Johnson (JNJ) at 7.33%, a diversified healthcare company; 4) AbbVie Inc (ABBV) at 5.02%, another leading pharmaceutical company; and 5) Merck & Co Inc (MRK) at 3.76%.

Is RXL a good long-term investment?

ProShares Ultra Health Care (RXL) is generally not considered a suitable long-term investment due to its leveraged nature.

The fund aims to deliver twice the daily performance of the S&P Health Care Select Sector Index, which can lead to amplified gains in the short term. However, the effects of compounding and volatility can significantly erode returns over longer periods.

How does RXL compare to similar ETFs?

RXL differentiates itself from other healthcare ETFs through its leveraged strategy, aiming for twice the daily performance of its benchmark. Most healthcare ETFs offer unleveraged exposure.

RXL's expense ratio of 1.07% is considerably higher than many traditional healthcare ETFs, which typically have expense ratios below 0.50%.

Does RXL pay dividends?

As of 2026-03-15, ProShares Ultra Health Care (RXL) has a dividend yield of 0.00%. This indicates that the fund does not currently distribute any dividends to its shareholders.

Investors seeking income from their investments may want to consider other healthcare ETFs that offer dividend payouts. The fund's focus is primarily on capital appreciation through leveraged exposure to the health care sector, rather than generating income through dividends.