Launch Roundup
First Trust listed six income ETFs at 0.85%, and the new fund flagged its own conflict
ProShares - S&P Kensho Smart Factories ETF
$66.48−1.57 (−2.31%)
- 0.58%
- $5M
- +33.7%
- 0.08%
- 0M sh
- $66.49
- low $46.88high $75.53
The ETF.net MAKX Grade
C
Score 54 out of 100
- 7 of 21
Score 54 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B58 out of 100Rank 8 of 21Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C54 out of 100Rank 10 of 21Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B59 out of 100Rank 9 of 21Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C41 out of 100Rank 14 of 18Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C49 out of 100Rank 14 of 21
Our read on MAKX
CFactory-floor automation, picked by machine. MAKX tracks an S&P Kensho index that runs language software over regulatory filings to find the companies digitizing manufacturing, then leans hardest on the purest plays.
MAKX invests globally in companies centered on the emerging smart-factories theme, including technologies and products that enable more digitalized manufacturing.
Why people hold it
- No hand-picking: Kensho's language software scans millions of pages of regulatory filings to identify companies in the theme, and overweights those where it is a core part of the business.spglobal.com
- Entirely systematic and rules-based, so membership follows what companies actually disclose rather than a manager's conviction call.spglobal.com
- Global reach in a US-listed wrapper: the index holds US and non-US automation names, all trading on US exchanges.proshares.com
- A tight slice of the robotics and automation build-out rather than a broad tech basket wearing a theme label.
Worth knowing
- A small, thinly traded fund. That usually means wider spreads, and small thematic ETFs carry more closure risk than the giants.
- The 0.58% expense ratio runs slightly above the typical fund in its global thematic peer group.
- One narrow theme, live since 2021, and on overall build it sits in the lower half of its global thematic cohort.
MAKX Holdings
- Stocks
- 25
- 59%
- OUST
Sectors
- Technology69.1%
- Industrials20.9%
- Communication8.0%
- Materials2.0%
Geography
- United States86.39%
- South Korea7.61%
- Israel3.56%
- Turkey2.43%
MAKX Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.
MAKX$13,368
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | MAKX |
|---|---|
| Year to date | +33.0% |
| 1 month | +1.2% |
| 3 months | −3.7% |
| 1 year | +33.7% |
| 3 years | +27.2% |
| 5 years | +11.0% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | MAKX |
|---|---|---|
| 2026 YTD | +33.0% | |
| 2025 | +21.6% | |
| 2024 | +8.3% | |
| 2023 | +26.1% | |
| 2022 | −26.4% | |
| 2021 | +3.9% |
MAKX in the news
MAKX Dividends
- 0.08%
- $0.06
- $0.02 per share
- Twice a year
Distribution history
MAKX Risk
- 28.4%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.83
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −40.3%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.87
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
MAKX Cost
0.58%
MAKX0.58%
- The middle half of Global Thematic funds
- Median 0.58%
7 of the 21 Global Thematic funds charge less.
Other funds in Global Thematic
- BICOPiShares Copper and Metals Mining ETFExpense ratio 0.47%1 year return +48.1%
- BTRFKPacer Data and Digital Revolution ETFExpense ratio 0.49%1 year return +42.6%
- CTINYProShares - Nanotechnology ETFExpense ratio 0.58%1 year return +58.1%
- CPWRDTCW Transform Systems ETFExpense ratio 0.75%1 year return +8.7%
- CTHMZLazard Equity Megatrends ETFExpense ratio 0.60%1 year return +11.0%