At a glance
SPXT charges 0.09% a year, below the 0.12% average of the 8 funds most like it (the 5th cheapest of 9). It has $296.6M in assets, the 8th largest of that group; it paid 1.3% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +9.5% with distributions reinvested (S&P 500: +11.5%), the weakest of those 9 funds; over three years it returned +19.5% a year. At its worst it fell 21.5% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 16 months after the low. Its ten largest positions make up 30.4% of the fund, out of 435 in all.
The short version
ProShares S&P 500 Ex-Technology ETF (SPXT) tracks the S&P 500 Ex-Information Technology Index. That index is the S&P 500 with its information technology sector removed, and the fund held 435 stocks as of August 31, 2026. It may suit investors who already own a lot of tech and want large US companies without adding more. Its 0.09% expense ratio is below the 0.12% average for similar funds, but plain S&P 500 funds such as VOO and IVV charge 0.03%.
Price history
The interactive chart needs JavaScript.
SPXT +9.5% 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 | |
|---|---|---|---|---|---|---|
| SPXT official prospectus, to Dec 31, 2025 | — | +14.81% | — | +11.67% | — | +11.45% |
| SPXT price data to Oct 27, 2026 | +7.5% | +9.5% | +19.5% | +8.9% | — | +13.4% |
- Over the year to Oct 27, 2026, SPXT returned +9.5%, 9th of 9 among similar funds.
- Its 5-year annualized return was +8.9%.
- Its worst full calendar year was 2022 (-14.2%); its best was 2021 (+26.4%).
- The deepest fall in its price history was 21.5% (Jan 4, 2022 to Sep 30, 2022), recovered by Jan 26, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +7.5% | — |
| 2025 | +15.1% | +14.81% |
| 2024 | +19.9% | +20.10% |
| 2023 | +16.3% | +16.11% |
| 2022 | -14.2% | -13.95% |
| 2021 | +26.4% | +26.04% |
| 2020 | — | +10.38% |
| 2019 | — | +26.33% |
| 2018 | — | -6.21% |
| 2017 | — | +17.63% |
| 2016 | — | +10.72% |
| 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 | Not in the price data, which starts Jun 2, 2020 |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 20.7% over that stretch · deepest drop along the way 21.5%, back to its old high 15.9 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.0400 | |
| 2025 | $1.4200 | +19.3% |
| 2024 | $1.1900 | 0.0% |
| 2023 | $1.1900 | -5.6% |
| 2022 | $1.2600 | +37.0% |
| 2021 | $0.9200 |
What's inside
As of Aug 31, 2026, the fund held 435 securities; the ten largest made up 30.39% of assets.
| Holding | Weight | |
|---|---|---|
| Amazon.com, Inc. | 6.18% | |
| Alphabet, Inc. Class A | 4.83% | |
| Alphabet, Inc. Class C | 3.85% | |
| Meta Platforms, Inc. | 3.05% | |
| Tesla, Inc. | 2.52% | |
| JPMorgan Chase & Co. | 2.32% | |
| Berkshire Hathaway, Inc. | 2.24% | |
| Eli Lilly & Co. | 2.22% | |
| ExxonMobil Holdings Corp. | 1.62% | |
| Johnson & Johnson | 1.55% | |
| Visa, Inc. | 1.53% | |
| Mastercard, Inc. | 1.16% | |
| Walmart, Inc. | 1.12% | |
| AbbVie, Inc. | 1.10% | |
| Costco Wholesale Corp. | 1.02% |
By country
United States 96.49%Ireland 2.22%Switzerland 0.45%Bermuda 0.25%Curaçao 0.22%By asset type
Stocks 99.77%RA 0.13%By sector
Sectors of the companies held, for the 87.7% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Aug 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 31, 2026, investors added a net $22.0M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.51%, +1.99%, +0.68%.
How it works
SPXT aims to match the performance of the S&P 500 Ex-Information Technology Index, before fees and expenses. S&P Dow Jones Indices builds and maintains the index. It starts with the S&P 500, which measures 500 of the largest US companies, and drops those in the information technology sector. The remaining companies come from ten sectors, including financials, health care, energy and utilities. They are weighted by market capitalization (a company's total stock market value), so the biggest companies count most.
The cut is narrower than the fund's name suggests. Amazon, Alphabet, Meta and Tesla sit in other sectors, so the fund keeps them. As of August 31, 2026, Amazon was the largest holding at 6.2%. Alphabet's two share classes made up 4.8% and 3.9%. The top 10 holdings made up 30.4% of assets, and financials were the largest sector at 18.2%.
The index's makeup is reviewed every September, and its weights are adjusted in March, June and December. ProShare Advisors generally buys every stock in the index in about the same proportions (called replication), but it may hold only a representative sample when that is more practical. At least 80% of total assets must be in index stocks or similar instruments. Turnover was 5%, which means little trading. If a few stocks grow very large, the fund may become "non-diversified," meaning more of its money rides on a few companies.
What it really costs
- SPXT charges 0.09% a year, versus an average of 0.12% for the similar funds below (5th of 9, cheapest first).
- Of that, 0.13% is the management fee; the rest covers other fund expenses.
- The fee includes a 0.04% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $9 in the first year and $162 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| SPXT | $9 | $38 | $69 | $162 |
In a retirement portfolio
It owns the S&P 500 without its technology sector, so it can balance a portfolio that already leans heavily on tech stocks.
SPXT can add exposure to the rest of the S&P 500 (banks, drugmakers, retailers, energy and industrial companies) to a portfolio heavy in tech. It is still a stock fund, and it has fallen sharply in downturns. It launched in 2015, so it has no record from 2008. Its worst quarter was the first quarter of 2020, when it lost 21.9%. In 2022 it fell 21.5% between January 4 and September 30, and it took about 16 months after that low to recover, on January 26, 2024. Its worst calendar year was 2022, at -13.95%. Someone selling shares for income in a year like that would be selling at lower prices. The yield was a modest 1.3% over the 12 months to October 27, 2026, paid quarterly. In the SEC's $10,000 example, costs come to $162 over 10 years. Past results don't predict the future, 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 already own a lot of tech and want large US companies without the S&P 500's information technology sector.
- Cost-conscious investors: the 0.09% expense ratio is below the 0.12% average for similar funds, about $9 per $10,000 in the first year.
- Those who want broad exposure across 435 stocks, led by financials (18.2%) and health care (11.8%), with dividends paid quarterly.
Look elsewhere if
- Investors who want the whole S&P 500, including tech. VOO and IVV hold all of it for 0.03%.
- Anyone expecting to avoid tech-like giants. Amazon, Alphabet, Meta and Tesla were among its five largest holdings as of August 31, 2026.
- Investors who want to keep pace with the S&P 500. SPXT's 9.5% one-year return to October 27, 2026 trailed VOO's 12.4% to October 30.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| SPXT this fund | — | 0.09% | $296.6M | +9.5% | +19.5% |
| XMAG Defiance Large Cap ex-Mag 7 ETF | 72% | 0.35% | $184.0M | +15.0% | — |
| DSPY Tema S&P 500 Historical Weight ETF Strategy | 69% | 0.18% | $997.2M | +15.3% | — |
| SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF | 62% | 0.2% | $2.74B | +12.6% | +24.8% |
| SPY SPDR S&P 500 ETF Trust | 61% | 0.0945% | $781.19B | +11.5% | +21.9% |
| IVV iShares Core S&P 500 ETF | 61% | 0.03% | $888.13B | +11.5% | +22.0% |
| VOO Vanguard S&P 500 ETF | 61% | 0.03% | $1.67T | +12.4% | +23.6% |
| USPX Franklin U.S. Equity Index ETF | 60% | 0.03% | $1.98B | +12.9% | +24.9% |
Questions investors ask
What does SPXT hold?
SPXT holds the S&P 500 minus its information technology sector: 435 stocks as of August 31, 2026. Companies such as Amazon, Alphabet, Meta and Tesla are classed in other sectors, so the fund still owns them. Amazon was the largest holding at 6.2%, followed by Alphabet's two share classes, Meta, Tesla, JPMorgan Chase, Berkshire Hathaway and Eli Lilly. Financials were the largest sector at 18.2%, and technology was just 0.4%.
SPXT vs VOO: what's the difference?
VOO holds the full S&P 500, including technology, and SPXT leaves the information technology sector out. VOO charges 0.03% a year and SPXT 0.09%. Leaving out tech has hurt SPXT's recent returns. Its one-year return was 9.5% to October 27, 2026, while VOO returned 12.4% to October 30. Over three years, SPXT averaged 19.5% a year and VOO 23.6%. VOO is also far larger and more heavily traded.
What's the difference between SPXT and XMAG?
Both funds leave out parts of big tech, but in different ways. SPXT removes the whole information technology sector. Defiance Large Cap ex-Mag 7 ETF (XMAG) excludes the so-called Magnificent 7 stocks, as its name says. That means SPXT still owns Amazon, Alphabet, Meta and Tesla. Their holdings overlap by 72%. XMAG costs 0.35% a year against SPXT's 0.09%, and XMAG returned 15% over the year to October 27, 2026, against 9.5% for SPXT.
Does SPXT pay dividends?
Yes. SPXT pays dividends quarterly. Over the 12 months to October 27, 2026, it paid $1.44 per share, a trailing yield of 1.3%. That is modest income. Most of the fund's return has come from stock price changes rather than dividends, so it is not built mainly as an income fund. Payouts depend on the dividends the underlying companies pay, so they can rise or fall.
What is SPXT's expense ratio?
SPXT's expense ratio is 0.09%, according to its prospectus filed September 25, 2026. That figure includes a 0.04% fee waiver on a 0.13% management fee. In the SEC's standard example ($10,000 invested, 5% annual return), costs come to about $9 after one year, $69 after five and $162 after 10. That is below the 0.12% average for similar funds and close to SPY's 0.0945%, but above the 0.03% charged by VOO and IVV.