Looking for broad exposure to the Large Cap Blend segment of the US equity market? You should consider the ProShares S&P 500 Ex-Technology ETF (SPXT), a passively managed exchange traded fund launched on September 22, 2015.
The fund is sponsored by Proshares. It has amassed assets over $268.38 million, making it one of the average sized ETFs attempting to match the Large Cap Blend segment of the US equity market.
Why Large Cap Blend
Companies that fall in the large cap category tend to have a market capitalization above $10 billion. Considered a more stable option, large cap companies boast more predictable cash flows and are less volatile than their mid and small cap counterparts.
Blend ETFs are aptly named, since they tend to hold a mix of growth and value stocks, as well as show characteristics of both kinds of equities.
Costs
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive counterparts if all other fundamentals are the same.
Annual operating expenses for this ETF are 0.09%, making it one of the least expensive products in the space.
It has a 12-month trailing dividend yield of 1.37%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Financials sector -- about 18.7% of the portfolio. Telecom and Consumer Discretionary round out the top three.
Looking at individual holdings, Amazon.com Inc (AMZN) accounts for about 5.15% of total assets, followed by Alphabet Inc-Cl A (GOOGL) and Alphabet Inc-Cl C (GOOG).
The top 10 holdings account for about 28.44% of total assets under management.
Performance and Risk
SPXT seeks to match the performance of the S&P 500 Ex-Information Technology & Telecommunication Services Index before fees and expenses. The S&P 500 Ex-Information Technology Index provide exposure to the companies of the S&P 500 with the exception of those companies included in the information technology sector.
The ETF has added about 1.11% so far this year and is up about 14.85% in the last one year (as of 03/10/2026). In the past 52-week period, it has traded between $81.62 and $107.90.
The ETF has a beta of 0.89 and standard deviation of 12.63% for the trailing three-year period, making it a medium risk choice in the space. With about 433 holdings, it effectively diversifies company-specific risk.
Alternatives
ProShares S&P 500 Ex-Technology ETF holds a Zacks ETF Rank of 2 (Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, SPXT is an outstanding option for investors seeking exposure to the Style Box - Large Cap Blend segment of the market. There are other additional ETFs in the space that investors could consider as well.
The iShares Core S&P 500 ETF (IVV) and the Vanguard 500 Index Fund ETF Shares (VOO) track a similar index. While iShares Core S&P 500 ETF has $737.81 billion in assets, Vanguard 500 Index Fund ETF Shares has $861.52 billion. IVV has an expense ratio of 0.03% and VOO charges 0.03%.
Bottom-Line
Retail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds are also excellent vehicles for long term investors.
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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ProShares S&P 500 Ex-Technology ETF (SPXT): ETF Research ReportsThis article originally published on Zacks Investment Research (zacks.com).
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