ETF provider ProShares has launched a new fund targeted at companies with a sustained history of buybacks.
The ProShares S&P 500 Buyback Aristocrats ETF (Ticker: BUYB) tracks the performance of the S&P 500 Buyback Aristocrats Index. Launched on Dec. 8, the index measures the equal-weighted performance of S&P 500 companies that have reduced common shares outstanding for at least 10 consecutive years.
The new ProShares ETF focuses on sustained capital return rather than short-term buyback activity, according to ProShares. The company describes the ETF as the first to invest exclusively companies with a persistent record of buying back their stock.
“BUYB provides a differentiated way to access high-quality companies with a sustained commitment to share buybacks,” said ProShares CEO Michael L. Sapir, in a statement. “Ten consecutive years of share buybacks is an exceptional achievement that reflects disciplined capital management, strong fundamentals, and a shareholder-focused approach.”
Corporate share buybacks have hit record levels in recent years and share repurchases remain firmly in the spotlight. Chip giant Qualcomm (Ticker: QCOM), for example, recently announced a new $20 billion stock repurchase authorization. Qualcomm is the top holding in the S&P 500 Buyback Aristocrats Index.
Buybacks are also expected to grow during the coming years. Last year JPMorgan said that buybacks were on pace to hit $1.5 trillion in 2025, and could grow by $600 billion over the next few years, according to Bloomberg.
Underlining the scale of the buyback trend, AT&T (Ticker:T) announced a new $10 billion share repurchase authorization earlier this year. The telecom giant plans to return more than $45 billion to shareholders during the 2026 to 2028 timeframe through dividends and share repurchases.
ProShares also offers an S&P 500 Dividend Aristocrats ETF (Ticker: NOBL), which tracks the performance of the S&P 500 Dividend Aristocrats index. The index, which was launched on May 2, 2005, measures the performance of companies on the S&P 500 that have increased dividends every year for the last 25 consecutive years.
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