ProShares Long Online/Short Stores ETF (CLIX) is an exchange-traded fund that provides leveraged exposure to the performance of the online retail sector relative to traditional brick-and-mortar stores. The fund employs a long/short strategy, primarily investing long positions in companies engaged in internet and direct marketing retail, such as e-commerce platforms, online marketplaces, and digital payment providers including Amazon.com Inc., Shopify Inc., and Etsy Inc.; while maintaining short positions in operators of physical retail stores, department stores, and specialty retailers like Walmart Inc., Target Corp., and Macy's Inc. It seeks daily investment results, before fees and expenses, that correspond to 200% of the daily performance of the ProShares Long Online/Short Stores Index, utilizing derivatives including swap agreements and futures contracts to achieve its objectives. CLIX operates globally with a focus on U.S.-listed equities but includes exposure to international online retail firms where applicable, targeting investors seeking tactical plays on the shift from physical to digital commerce.
Launched in 2018, the fund is managed by ProShare Advisors LLC, a subsidiary of ProShares, which is headquartered in Bethesda, Maryland. ProShares, established in 2006, is a leading provider of leveraged and inverse ETFs, offering over 150 products across various asset classes including equities, fixed income, commodities, and volatility. The firm distributes its funds through major broker-dealers and financial advisors, with assets under management exceeding $60 billion as of late 2025.
In recent developments, CLIX benefited from ProShares' strategic expansion into enhanced beta strategies amid the continued acceleration of e-commerce post-2024 economic shifts; the firm announced new leveraged ETF launches in technology and consumer sectors in Q3 2025, complementing CLIX's thematic focus. No major acquisitions or name changes have occurred for the fund itself within the last two years, though ProShares completed a merger with a smaller ETF issuer in early 2025 to broaden its retail disruption lineup. Operational enhancements include improved liquidity provisions and index rebalancing to capture emerging online players like AI-driven shopping platforms.