| Investment Objective: |
ProShares Ultra S&P 500 Equal Weight (the "Fund") seeks daily investment results, before fees and expenses, that correspond to two times (2x) of the daily performance of the S&P 500 Equal Weight Index (the "Index"). The Fund does not seek to achieve two times (2x) the daily performance of the Index (the "Daily Target") for any period other than a day. The Index is designed to measure the performance of companies listed in the S&P 500 Index on an equal weight basis. The S&P 500 Index is designed to measure the performance of 500 of the largest companies listed and domiciled in the U.S. Under normal circumstances, the Fund will obtain leveraged exposure to at least 80% of its total assets in components of the Index or in instruments with similar economic characteristics. ProShare Advisors uses a mathematical approach to investing in which it determines the type, quantity and mix of investment positions that it believes, in combination, the Fund should hold to produce daily returns consistent with the Daily Target. The Fund seeks to remain fully invested at all times in financial instruments that, in combination, provide leveraged consistent with the investment objective, without regard to market conditions, trends or direction. |
