At a glance
CLIX charges 0.65% a year, above the 0.33% average of the 7 funds most like it (the 7th cheapest of 8). It has $6.2M in assets, the 8th largest of that group; it paid 0.46% of its price in distributions over the past 12 months, semiannual. Over the past year it returned −3.4% with distributions reinvested (S&P 500: +11.5%), 5th of those 8 funds; over three years it returned +20.8% a year. At its worst it fell 12.9% in the 2020 crash (S&P 500: 33.7%) and 42.7% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high within a month and 34 months after the lows. Its ten largest positions make up 60.9% of the fund, out of 27 in all.
The short version
ProShares Long Online/Short Stores ETF (CLIX) tracks an index that owns online retailers such as Amazon and eBay and bets against store-based retailers, using swaps for the short side. Its 100% long, 50% short design wagers that online retailers keep beating physical stores, unlike plain e-commerce funds. It is small and costly: $6.2 million in assets as of August 31, 2026, and a 0.65% annual fee versus a 0.33% average for similar funds.
Price history
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CLIX -3.4% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| CLIX official prospectus, to Dec 31, 2025 | — | +32.75% | — | -7.96% | — | +5.52% |
| CLIX price data to Oct 27, 2026 | -2.9% | -3.4% | +20.8% | -3.0% | — | +4.6% |
- Over the year to Oct 27, 2026, CLIX returned -3.4%, 5th of 8 among similar funds.
- Its 5-year annualized return was -3.0%.
- In the 2020 COVID crash it fell 12.9% and regained its old high 0.8 months after the low.
- Its worst full calendar year was 2022 (-46.7%); its best was 2020 (+91.0%).
- The deepest fall in its price history was 73.2% (Feb 12, 2021 to Nov 9, 2022), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -2.9% | — |
| 2025 | +32.8% | — |
| 2024 | +20.7% | +32.75% |
| 2023 | +29.0% | +20.68% |
| 2022 | -46.7% | +28.85% |
| 2021 | -40.0% | -46.73% |
| 2020 | +91.0% | -39.92% |
| 2019 | +17.3% | +91.05% |
| 2018 | +6.3% | +16.77% |
| 2017 | — | +6.99% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 3.2% over that stretch · deepest drop along the way 12.9%, back to its old high 0.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 42% over that stretch · deepest drop along the way 42.7%, back to its old high 33.6 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.2200 | |
| 2025 | $0.2800 | +32.5% |
| 2024 | $0.2114 | -82.8% |
| 2020 | $1.2300 |
What's inside
As of Aug 31, 2026, the fund held 27 securities; the ten largest made up 60.86% of assets.
| Holding | Weight | |
|---|---|---|
| Amazon.com, Inc. | 22.37% | |
| eBay, Inc. | 6.86% | |
| Alibaba Group Holding Ltd. | 6.66% | |
| PDD Holdings, Inc. | 4.32% | |
| Carvana Co. | 4.15% | |
| MercadoLibre, Inc. | 3.76% | |
| Figs, Inc. | 3.52% | |
| Coupang, Inc. | 3.25% | |
| Williams-Sonoma, Inc. | 3.03% | |
| Sea Ltd. | 2.93% | |
| GigaCloud Technology, Inc. | 2.85% | |
| Wayfair, Inc. | 2.82% | |
| Repurchase Agreement RA | 2.80% | |
| Chewy, Inc. | 2.70% | |
| Liquidity Services, Inc. | 2.50% |
By country
United States 71.37%Cayman Islands 18.67%Israel 1%Cyprus 0%By asset type
Stocks 84.32%RA 6.74%What changed recently
- Over the three months to Aug 31, 2026, investors withdrew a net $1.2M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -5.18%, +8.56%, -0.71%.
How it works
CLIX seeks to track the ProShares Long Online/Short Stores Index, created by ProShare Advisors and maintained by Solactive AG. The index combines two positions. The first is a 100% long position (owning the shares) in the ProShares Online Retail Index, made up of U.S.-listed companies that rely mainly on online or other non-store sales. The second is a 50% short position in the Solactive-ProShares Bricks and Mortar Retail Store Index, made up of U.S. retailers whose retail revenue comes mainly from in-store sales. A short position profits when stocks fall and loses when they rise. Weights reset monthly, so the mix drifts between resets.
The fund normally keeps at least 80% of total assets in stocks from the online index. As of August 31, 2026, it had 27 holdings, and the top 10 made up about 61% of assets. Amazon was about 22%, followed by eBay (6.9%), Alibaba (6.7%) and PDD Holdings (4.3%). About 19% was in companies incorporated in the Cayman Islands.
The short side comes from swaps, contracts with large financial institutions to exchange the returns on an asset or index. That brings counterparty risk: the fund can lose money if a counterparty fails to pay, and swap terms may let a counterparty close a trade immediately. The fund parks cash in Treasury bills, repurchase agreements and a ProShares money market ETF.
What it really costs
- CLIX charges 0.65% a year, versus an average of 0.33% for the similar funds below (7th of 8, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $66 in the first year and $810 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| CLIX | $66 | $208 | $362 | $810 |
In a retirement portfolio
It is a narrow long/short bet on online retail that fell 73% from its February 2021 peak and had not recovered as of October 27, 2026.
CLIX could add a focused bet on online retailers beating physical stores. It launched in November 2017, after the 2008 financial crisis. It fell 12.9% in the 2020 COVID crash but recovered by April 6, 2020. The 2022 bear market hit harder: it dropped 42.7% and took until July 31, 2025, about 34 months after its low, to recover. Its worst calendar year was 2022, down about 47%. Its deepest fall, 73% from February 2021 to November 2022, had not been made up as of October 27, 2026. Withdrawals during slumps like these would lock in losses.
Income is slim: a 0.46% yield as of October 27, 2026, paid twice a year. Its 0.65% fee tops the 0.33% average for similar funds. On $10,000, the SEC's standard example shows $66 in first-year costs. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a targeted bet that online retailers such as Amazon, eBay and Alibaba will keep outgaining store-based retailers.
- Those comfortable with a 100% long, 50% short design built partly on swaps, including the counterparty risk those contracts carry.
- Holders of a small, high-risk satellite slot who can ride out falls like the 73% drop from February 2021 to November 2022.
Look elsewhere if
- Cost-conscious investors: at 0.65%, it is among the priciest of eight similar funds; XLY and VCR charge 0.08% to 0.09%.
- Income seekers: the yield was 0.46% as of October 27, 2026, paid only twice a year.
- Investors wary of tiny funds: net assets were about $6.2 million as of August 31, 2026, the smallest among eight similar funds.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| CLIX this fund | — | 0.65% | $6.2M | -3.4% | +20.8% |
| ONLN ProShares Online Retail ETF | 84% | 0.58% | $60.9M | -7.6% | +25.6% |
| EBIZ Global X E-commerce ETF | 36% | 0.5% | $28.4M | -17.7% | +20.2% |
| FDIS Fidelity MSCI Consumer Discretionary Index … | 27% | 0.084% | $1.68B | -2.3% | +16.4% |
| VCR Vanguard Consumer Discretionary ETF | 26% | 0.09% | $6.63B | -2.6% | +16.3% |
| XLY Consumer Discretionary Select Sector SPDR F… | 25% | 0.08% | $22.59B | -0.5% | -8.0% |
| RTH VanEck Retail ETF | 24% | 0.35% | $248.4M | +7.1% | +18.6% |
| IBUY Amplify Online Retail ETF | 24% | 0.65% | $107.3M | -6.8% | +20.2% |
Questions investors ask
What are CLIX's top holdings?
Amazon.com is the largest, at about 22% of assets as of August 31, 2026. It is followed by eBay (6.9%), Alibaba Group (6.7%), PDD Holdings (4.3%), Carvana (4.1%), MercadoLibre (3.8%), Figs (3.5%), Coupang (3.3%), Williams-Sonoma (3.0%) and Sea Ltd. (2.9%). Those 10 made up about 61% of assets across 27 holdings. The short bets against store-based retailers run through swaps, so they don't appear as stock holdings.
Is CLIX a leveraged or inverse ETF?
No. CLIX is neither leveraged nor inverse, and it does not aim for a multiple of daily returns. It is a long/short fund. Its index holds a 100% long position in online retailers and a 50% short position, which profits when stocks fall, in store-based retailers. The short side comes from swaps. Because the short is half the size of the long side, the fund still carries heavy stock market risk. It lost about 47% in 2022.
What's the difference between CLIX and ONLN?
The big difference is the short side: CLIX pairs online retail stocks with a 50% short position in store-based retailers. ProShares Online Retail ETF (ONLN) is the closest match, with 84% of its holdings overlapping CLIX's. ONLN is larger, at about $60.9 million in net assets as of August 31, 2026, and costs less, at 0.58% versus 0.65%. As of October 27, 2026, CLIX was ahead over one year (-3.4% versus -7.6%). ONLN led over three years (25.6% versus 20.8% a year).
Does CLIX pay dividends?
Yes, but very little. CLIX pays distributions twice a year. Over the 12 months to October 27, 2026, it paid about $0.27 per share, a yield of 0.46%. At that level, the fund's return depends almost entirely on share price changes, not income. Investors who need steady cash from their holdings would get little here.
Is CLIX good for retirement?
It is better viewed as a small, high-risk satellite than a core retirement holding. Per its prospectus, CLIX lost an average of 7.96% a year over the five years to December 31, 2025. It gained 5.52% a year from its 2017 launch to that date. It fell 73% from February 2021 to November 2022 and had not recovered as of October 27, 2026, when its yield was 0.46%. It charges 0.65% a year. Past results don't predict future ones.