SPXV ETF: What Is It? A Complete Guide to Returns, Expense Ratio, Holdings and Alternative ETFs
The ProShares S&P 500 Ex-Health Care ETF (SPXV) offers passive exposure to the S&P 500 without the health care sector. Investors should weigh the sector outlook, quarterly distributions, the expense ratio and trading conditions together. This guide helps those who want to reduce health care exposure understand how the fund is structured.
SubscribeWhat Is the ProShares S&P 500 Ex-Health Care ETF?
The SPXV ETF is a passive product designed to follow the U.S. large-cap market while excluding the health care sector. It can be used by investors who want market exposure without a specific defensive sector.
It suits long-term investors who want to diversify across U.S. large caps while deliberately reducing their health care weighting.
It is an ETF managed by ProShares using a passive (index-tracking) approach.
How Do You Invest in the ProShares S&P 500 Ex-Health Care ETF?
| Item | Details |
|---|---|
| Tracked index | S&P 500 index excluding health care |
| Management style | Passive index tracking |
| Rebalancing frequency | Follows the index's regular adjustments |
| Distribution frequency | Quarterly distributions |
| Expense ratio | 0.09% |
| Issuer | ProShares |
The fund removes stocks in the health care sector from the S&P 500 and reflects the performance of the remaining market. Rather than picking individual stocks actively, it maintains exposure according to the index's inclusion criteria and composition changes, so its structure is easy to understand for investors who want U.S. large caps without health care.
- Exposure excluding health care
- Passive index-tracking structure
ProShares S&P 500 Ex-Health Care ETF Size and Costs (AUM and Expense Ratio)
Assets under management (AUM) stand at $40.1M, and the expense ratio is 0.09% per year.
The impact of trading conditions and the expense ratio can vary with market conditions and the timing of a trade, so it is advisable to check the bid-ask spread and trading volume before placing an order.
ProShares S&P 500 Ex-Health Care ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangePerformance is influenced by the overall direction of U.S. large caps and by the relative performance of the sectors other than health care. Compared with typical broad market exposure, the moves of the excluded sector are not reflected, so the direction and volatility of returns can differ depending on the market environment.
Fund flows can change depending on how investors view the relative performance of the health care sector and on their preference for U.S. large caps overall. Rather than focusing only on the distribution policy, it is important to review the sector exclusion structure, long-term holding costs and trading conditions together.
ProShares S&P 500 Ex-Health Care ETF Pros and Cons
The clear exclusion of the health care sector is a strength, but in periods when that sector is strong, performance can diverge from the broad market.
💪 Key Strengths
⚠️ Points to Watch
ProShares S&P 500 Ex-Health Care ETF Alternative ETFs and Related Products
The SPXV ETF offers the choice of excluding the health care sector, so when comparing it with similar broad market products, you should look at whether an excluded sector exists, the expense ratio, trading conditions and the distribution policy together. Because the comparison candidate information provided was limited, no specific alternative ticker is presented. Investors would be well advised to check similar product categories separately, based on their desired sector composition and long-term holding costs.
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corp | 0.26% | $200.13 | -3.2% | $4.82T | 25.3 | 0.39% |
| AAPL | Apple Inc | 0.23% | $349.51 | +5.3% | $5.10T | 38.9 | 0.33% |
| MSFT | Microsoft Corp | 0.17% | $555.80 | +6.7% | $4.13T | 29.0 | 0.7% |
| AMZN | Amazon.com Inc | 0.04% | $266.03 | +6.1% | $2.88T | 21.5 | - |
ProShares S&P 500 Ex-Health Care ETF Investor Checkpoints
When considering the SPXV ETF, first confirm that the aim of excluding health care fits your own asset allocation principles. You should also review the expense ratio, distribution policy, trading conditions and exchange rate effects.
| Checkpoint | What to check | Current status |
|---|---|---|
| Purpose of sector exclusion | Confirm that the intent to exclude health care matches your asset allocation goals | Investment purpose needs confirmation |
| Expense ratio | Compare the cost burden of long-term holding with the costs of similar products | Cost structure needs confirmation |
| Distribution policy | Check whether quarterly distributions fit your cash flow plan | Distribution policy maintained |
| Exchange rate exposure | Check how the dollar exchange rate affects returns converted into won | Exchange rate fluctuations possible |
In periods when the health care sector leads the market, the exclusion structure can weigh on relative performance. In addition, U.S. stock market volatility, changes in the weight of specific sectors and movements in the dollar exchange rate can all affect performance measured in won.
The SPXV ETF can be considered by investors who want to keep U.S. large-cap exposure while deliberately excluding the health care sector. Before buying, it is advisable to check the purpose of the sector exclusion, long-term costs, trading conditions and exchange rate risk against your own investment criteria.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of August 16, 2026.
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