ProShares, a premier provider of exchange-traded funds (ETFs), today announced the launch of the ProShares S&P 500 Buyback Aristocrats ETF (BUYB). BUYB is the first and only ETF that invests exclusively in companies with a persistent record of buying back their stock.
The fund seeks to track, before fees and expenses, the performance of the S&P 500 Buyback Aristocrats Index, which is designed to identify S&P 500 companies that have demonstrated a consistent, long-term commitment to share repurchases. These are companies that have reduced their shares outstanding through buybacks for at least 10 consecutive years. BUYB focuses on sustained capital return rather than short-term buyback activity, the approach of existing buyback ETFs.
“BUYB provides a differentiated way to access high-quality companies with a sustained commitment to share buybacks,” said ProShares CEO Michael L. Sapir. “Ten consecutive years of share buybacks is an exceptional achievement that reflects disciplined capital management, strong fundamentals, and a shareholder-focused approach.”
Companies with a sustained history of buybacks have historically tended to outperform other companies.1 Only 64 companies—about 13% of the S&P 500—meet the index’s criteria, underscoring the rarity of sustained buyback discipline. These companies span a diverse set of sectors such as industrials, financials, and consumer discretionary.
“The S&P 500 Buyback Aristocrats identifies companies with a sustained record of share repurchases, reflecting a disciplined approach to capital allocation and a track record of enhancing shareholder returns over time. This index represents a new generation of buyback strategies, and we’re pleased to expand our collaboration with ProShares and extend the Aristocrats franchise,” said Cameron Drinkwater, Chief Product Officer, S&P Dow Jones Indices.
About ProShares
ProShares has been at the forefront of the ETF revolution since 2006, offering one of the industry’s largest ETF lineups. ProShares, together with its mutual fund affiliate, ProFunds, manages more than $100 billion in assets.2 The company is a leader in strategies such as dividend growth, high income, interest rate hedged bond, crypto and geared (leveraged and inverse) ETF investing. ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns.
To learn more about the company and career opportunities, visit us on LinkedIn or at ProShares.com.
Sources:
1 Fama, Eugene F., and Kenneth R. French. 2008. “Average Returns, B/M, and Share Issues.” Journal of Finance 63 (6): 2971–2995. Liyu Zeng and Priscilla Luk, Examining Share Repurchases and the S&P Buyback Indices in the U.S. Market (New York: S&P Dow Jones Indices, March 2020).
2 As of 4/30/26
The S&P 500 Buyback Aristocrats Index is a product of S&P Dow Jones Indices LLC or its affiliates (“S&P DJI) and has been licensed for use by ProShares with the ProShares S&P 500 Buyback Aristocrats ETF. S&P®, S&P 500®, SPY®, SPX®, US 500™, The 500®, Dividend Aristocrats®, Aristocrats™, Buyback Aristocrats™ are trademarks of S&P Global, Inc. or its affiliates (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by S&P DJI and sublicensed for certain purposes by ProShares. ETFs based on the S&P 500 Buyback Aristocrats Index are not sponsored or sold by S&P DJI, Dow Jones, S&P, their respective affiliates and none of such parties make any representation regarding the advisability of investing in such ETFs nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Buyback Aristocrats Index.
Investing involves risk, including the possible loss of principal. This ProShares ETF is subject to certain risks, including imperfect benchmark correlation, and market price variance, which may decrease performance. Corporate stock buybacks may divert capital from investment or debt reduction, occur at unfavorable times, face regulatory scrutiny, or be reduced or discontinued, which could increase financial risk, limit flexibility, and negatively impact stock prices and ETF performance. Please see summary and full prospectuses for a more complete description of risks. There is no guarantee any ProShares ETF will achieve its investment objective.
Shares of any ETF are generally bought and sold at market price (not NAV) and are not individually redeemed from the fund. Your brokerage commissions will reduce returns.
Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing.
ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds’ advisor or sponsor.
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