Bank holdings company Suntrust estimates that half of Americans will include pets on their gift lists and spend an average of $137 on them this holiday season, which could boost the ProShares Pet Care ETF (PAWZ).
“For many people, pets are members of the family, so it’s expected that we would want to include them in the holiday fun,” said Brian Nelson Ford, financial well-being executive at SunTrust. “Our studies show that the holiday season often comes with pressure to overspend. Gifts for pets, friends, neighbors and other obligations can add to the pressure when the spending is unplanned. It’s important to be upfront about what we care about, and build our holiday spending plan to enjoy the memory-making moments of the holidays.”
“As a dog mom, I look forward to diving into the holiday hustle and bustle with my pup without breaking the bank,” said Kim McNamara, who is one of the owners that from dog crew, That Dood Squad, of social media fame. “This holiday season, give your pets the gift they cherish the most – quality moments with you.”
PAWZ seeks investment results that track the performance of the FactSet Pet Care Index. The index consists of U.S. and non-U.S. companies that potentially stand to benefit from interest in, and resources spent on, pet ownership.
- Seven out of 10 U.S. households today have pets, more than have children, and owners are providing pets with premium foods, luxury services, state-of-the-art health care, insurance policies and more.
- The pet care industry could reach $203 billion in global sales by 2025. It has grown steadily every year since 2001, even during the Great Recession.
- PAWZ invests in a range of companies that stand to potentially benefit from the proliferation of pet ownership, and the emerging trends affecting how we care for our pets.
About the index:
- The index consists of U.S. and international companies that potentially stand to benefit from interest in, and resources spent on, pet ownership.To be eligible for the FactSet Pet Care Index, FactSet requires that a company meets at least one of the following criteria:
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- The company’s principal revenue sourceis from one of eight FactSet Revere Business Industry Classification subindustries–“RBICS subindustries” for short
- The company generates at least$1 billion in annual revenue from at leastone of the eight RBICS subindustries
- The company’s principal business is identified by FactSet as being pet care related, but for which an appropriate RBICS subindustry has not yet been created (e.g., pet insurance).
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