EMSH — ProShares Short Term USD Emerging Markets Bond ETF
Data updated: 2022-04-28
EMSH — ProShares Short Term USD Emerging Markets Bond ETF. Short Bond · $10.09M AUM · 0.50% expense ratio. Holdings, fees, performance and SEC filings.
EMSH Fund Overview
EMSH — ProShares Short Term USD Emerging Markets Bond ETF is a US ETF managed by Proshares Trust, categorised as Short Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Proshares Trust
- Category: Short Bond
- Assets under management: $10.09M
- 1-year return: -5.5%
- Ticker: EMSH
- SEC CIK: 0001174610
- SEC series ID: S000042878
- Share class ID: C000132844
EMSH Investment Objective and Strategy
ProShares Short Term USD Emerging Markets Bond ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Proshares Trust.
Investment objective
ProShares Short Term USD Emerging Markets Bond ETF (the “Fund”) seeks investment results, before fees and expenses, that track the performance of the DBIQ Short Duration Emerging Market Bond Index (the “Index”).
Principal investment strategy
The Index (is comprised of a diversified portfolio of USD-denominated Emerging Market bonds that have less than or equal to five years remaining to maturity (Short Term USD EM Bonds) that are issued by Emerging Market sovereign governments (Sovereigns), non-sovereign government agencies and entities (Sub-Sovereigns), and corporations with significant government ownership (Quasi-Sovereigns). Those countries qualifying as Emerging Markets are determined by the Index Provider. As of May 31, 2018, the Index included bonds issued by Sovereigns or other qualifying entities domiciled in 27 such countries. These countries were: Argentina, Brazil, Chile, Colombia, Croatia, El Salvador, Hungary, Indonesia, Kazakhstan, Korea, Lebanon, Lithuania, Mexico, Pakistan, Panama, Philippines, Poland, Qatar, Romania, Russia, Serbia, Slovenia, South Africa, Sri Lanka, Turkey, Ukraine and Venezuela.
The Index is constructed and maintained by Deutsche Bank AG (the Index Provider). The Index is designed to represent the more liquid universe of Short Term USD EM Bonds. The bonds eligible for inclusion in the Index are expected to include those issued by Emerging Market Sovereigns, Sub-Sovereigns and Quasi-Sovereigns that: (1) are fixed rate and (2) have between zero and five years to maturity. Eligible bonds will also have a minimum face amount outstanding of $500 million. Callable, putable, zero coupon, inflation-linked and convertible bonds, among others, will be excluded. The Index includes both investment grade and below investment grade rated (i.e. high yield) securities and will include bonds, in the aggregate, that have a dollar weighted average years-to-maturity of three years or less.
The Index maintains certain issuer weight caps for diversification purposes, including limiting the weights of issuers from any particular country to no more than ten percent (10%) of the Index. The Index is reconstituted and rebalanced on a quarterly basis; cash from maturing issues or coupon payments is reinvested monthly. The Index is published under the Bloomberg ticker symbol DBEMPRO. The Fund invests in debt securities that ProShare Advisors believes should track the performance of the Index. The Fund, under normal circumstances, seeks to remain fully exposed to the Index and will invest at least 80% of its total assets in securities of the Index. The Fund will invest principally in the financial instruments set forth below. Debt Securities The Fund invests in U.S. dollar-denominated debt securities issued by Sovereign, Sub-Sovereign or Quasi-Sovereign issuers deemed to be domiciled in Emerging Markets by the Index Provider that are offered for sale in the United States.
Because the debt securities are U.S. dollar-denominated, fluctuations in currency exchange rates will not directly affect the principal or coupons associated with the debt securities. ProShare Advisors follows a passive approach to investing that is designed to track the performance of the Index. The Fund attempts to track the performance of the Index by investing all, or substantially all, of its assets in the types of securities that make up the Index. The Fund may invest in only a representative sample of the securities in the Index or in securities not contained in the Index, with the intent of obtaining exposure with aggregate characteristics similar to those of the Index. In managing the assets of the Fund, ProShare Advisors does not invest the assets of the Fund in securities based on ProShare Advisors view of the investment merit of a particular security or instrument, nor does it conduct conventional investment research or analysis, or forecast market movement or trends.
The Fund seeks to remain fully invested at all times in securities that provide exposure to the Index without regard to market conditions, trends, or direction. The Fund will concentrate its investments in a particular industry or group of industries, country or region to approximately the same extent as the Index is so concentrated. As of the close of business on May 31, 2018, the Index was concentrated in Eastern Europe and Latin America. Please see Investment Objectives, Principal Investment Strategies and Related Risks in the Funds Full Prospectus for additional details.
EMSH Performance
Total returns for EMSH (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -5.5% |
| 3 years (annualised) | -1.6% |
EMSH Risk Information
Risk metrics for EMSH, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 5.0%
EMSH Costs and Fees
EMSH costs about $50 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.50%
- Gross expense ratio: 2.14%
- Portfolio turnover: 51%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
EMSH Cashflows
Over the 12 months to 2022-02, ProShares Short Term USD Emerging Markets Bond ETF had net inflows of $3.63M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-02 | $0 |
| 2022-01 | $0 |
| 2021-12 | $0 |
| 2021-11 | $0 |
| 2021-10 | $3.63M |
| 2021-09 | $0 |
EMSH Debt Constituents
No individual debt constituents are reported in ProShares Short Term USD Emerging Markets Bond ETF's latest SEC N-PORT filing.
EMSH Prospectus and SEC Filings
Official ProShares Short Term USD Emerging Markets Bond ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2021-09-23
- Prospectus (485BPOS) — filed 2020-09-25
- Prospectus supplement (497) — filed 2022-02-01
- Portfolio holdings (N-PORT) — filed 2022-04-28
- Portfolio holdings (N-PORT) — filed 2022-01-27
- Portfolio holdings (N-PORT) — filed 2021-10-28
- Annual census (N-CEN) — filed 2021-08-12
- Annual census (N-CEN) — filed 2020-08-13
Related Funds
Other Short Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.