Tickers Equity Dividend Growers NOBL Description As of 12/31/2017 As of 12/31/2017 1-Month 1-Year 3-Year 5-Year NAV 2.02% 21.24% 21.24% 10.71% - 13.89% Market Price 2.11% 21.02% 21.02% 10.71% - 13.92% SPDAUDT S&P 500 Dividend Aristocrats Index 2.06% 21.73% 21.73% 11.18% - 14.35% SPTR S&P 500 Index 1.11% 21.83% 21.83% 11.42% - 14.36% REGL NAV -0.59% 10.24% 10.24% - - 13.02% Market Price -0.55% 10.17% 10.17% - - 13.06% SPDAMCUT S&P MidCap 400 Dividend Aristocrats Index -0.56% 10.68% 10.68% - - 13.43% SPTRMDCP S&P MidCap 400 Index 0.22% 16.24% 16.24% - - 10.94% NAV -3.93% 4.70% 4.70% - - 13.75% Market Price -4.07% 4.63% 4.63% - - 13.73% R2DIVGRO Russell 2000 Dividend Growth Index -3.91% 5.14% 5.14% - - 14.26% RU20INTR Russell 2000 Index -0.40% 14.65% 14.65% - - 10.52% EFAD ProShares S&P 500 Dividend Aristocrats ETF NAV 1.89% 21.73% 21.73% 3.95% - 1.29% Market Price 1.73% 22.16% 22.16% 4.10% - 1.25% M1EADMAR MSCI EAFE Dividend Masters Index 1.95% 22.35% 22.35% 4.50% - 1.85% NDDUEAFE MSCI EAFE Index 1.61% 25.03% 25.03% 7.80% - 4.65% NAV 2.04% 21.36% 21.36% - - 4.30% Market Price 2.23% 21.58% 21.58% - - 4.18% M1CXEDMR MSCI Europe Dividend Masters Index 2.12% 22.08% 22.08% - - 4.94% NDDUE15 MSCI Europe Index 1.51% 25.51% 25.51% - - 9.13% NAV 6.77% 31.30% 31.30% - - 25.10% EMDV ProShares Emerging Market Dividend Masters ETF 01/25/16 Market Price 6.17% 27.00% 27.00% - - 25.10% M1EMDMAR MSCI Emerging Market Dividend Masters Index 6.82% 32.50% 32.50% - - 26.48% 10/09/13 ProShares S&P MidCap Dividend Aristocrats ETF 02/03/15 SMDV ProShares Russell 2000 Dividend Growers ETF 02/03/15 EUDV ProShares EAFE Dividend Growers ETF ProShares Europe Dividend Growers ETF 08/19/14 09/09/15 Expense Ratio NDUEEGF MSCI Emerging Market Index 3.59% 37.28% 37.28% - - 31.36% 0.35% 0.40% 0.40% 0.50% 0.55% 0.60% 1
Tickers Equity Ex-Sector SPXE Description As of 12/31/2017 As of 12/31/2017 1-Month 1-Year 3-Year 5-Year NAV 0.85% 23.26% 23.26% - - 17.68% Market Price 3.19% 24.99% 24.99% - - 18.39% SPXXEGT index S&P 500 Ex-Energy Index 0.88% 23.70% 23.70% - - 18.11% SPTR index S&P 500 Index 1.11% 21.83% 21.83% - - 17.55% IXETR index S&P Energy Select Sector Index 5.06% -0.86% -0.86% - - 9.60% SPXN NAV 1.00% 21.78% 21.78% - - 16.65% Market Price 3.84% 20.85% 20.85% - - 16.84% SPXXFINT index S&P 500 Ex-Financials & Real Estate Index 1.02% 22.18% 22.18% - - 17.07% SPTR index S&P 500 Index 1.11% 21.83% 21.83% - - 17.55% IXMTR index S&P Financial Select Sector Index 1.96% 22.18% 22.18% - - 22.74% SPXV NAV 1.37% 21.39% 21.39% - - 18.46% Market Price 0.44% 17.51% 17.51% - - 17.05% SPXXHCT index S&P 500 Ex-Health Care Index 1.40% 21.81% 21.81% - - 18.92% SPTR index S&P 500 Index 1.11% 21.83% 21.83% - - 17.55% IXVTR index S&P HealthCare Select Sector Index -0.66% 21.93% 21.93% - - 9.74% SPXT ProShares S&P 500 Ex-Energy ETF ProShares S&P 500 Ex-Financials ETF ProShares S&P 500 Ex-Health Care ETF ProShares S&P 500 Ex-Technology ETF NAV 1.32% 17.63% 17.63% - - 14.76% Market Price 1.79% 16.99% 16.99% - - 15.00% SPXXTTST index S&P 500 Ex Information Tech & Tel Serv Index 1.35% 18.01% 18.01% - - 15.16% SPTR index S&P 500 Index 1.11% 21.83% 21.83% - - 17.55% IXTTR index S&P Technology Select Sector Index 0.41% 34.57% 34.57% - - 25.51% 09/22/15 09/22/15 09/22/15 09/22/15 Expense Ratio 0.27% 0.27% 0.27% 0.27% 2
Tickers Equity Multi-Factor Description CSM ProShares Large Cap Core Plus ETF 07/13/09 As of 12/31/2017 As of 12/31/2017 1-Month 1-Year 3-Year 5-Year NAV 1.55% 22.50% 22.50% 11.53% 16.95% 16.64% Market Price 1.58% 22.51% 22.51% 11.49% 16.92% 16.65% CS13030T Credit Suisse 130/30 Large Cap Index 1.60% 23.18% 23.18% 12.12% 17.63% 17.57% SPTR S&P 500 Index 1.11% 21.83% 21.83% 11.42% 15.80% 16.12% Equity Rising Rates EQRR NAV 4.23% - - - - 17.02% Market Price 8.35% - - - - 17.54% NQERRT Nasdaq U.S. Large Cap Equities for Rising Rates Index 4.28% - - - - 17.28% SPTR S&P 500 Index 1.11% - - - - 9.21% Equity Infrastructure TOLZ ProShares Equity Rising Rates ETF ProShares DJ Brookfield Global Infrastructure ETF NAV -0.13% 13.19% 13.19% 2.91% - 5.31% Market Price 0.15% 13.29% 13.29% 2.96% - 5.31% DJBGICUT DJ Brookfield Global Infrastructure Composite Index -0.15% 12.73% 12.73% 2.47% - 5.00% NDDUWI MSCI World Index 1.35% 22.40% 22.40% 9.27% - 8.67% Equity Retail Disruption NAV 2.14% - - - - -1.88% 07/24/17 03/25/14 Expense Ratio CLIX ProShares Long Online/Short Stores ETF 11/14/17 Market Price 2.32% - - - - -1.75% 0.65% PSCLIXTR ProShares Long Online/Short Stores index 2.22% - - - - -1.74% SOEMTYTR Solactive-ProShares Bricks and Mortar Retail Store Index 5.40% - - - - 18.38% PSONLINE Proshares Online Retail Index 4.87% - - - - 7.27% *This figure includes acquired fund fees. These fees are incurred indirectly through the fund's ownership of shares in other investment companies, such as business development companies or exchange-traded funds. They are not direct costs paid by shareholders or used to calculate net asset value. 0.45% 0.35% 0.46%* 3
As of 12/31/2017 As of 12/31/2017 1-Month 1-Year 3-Year 5-Year Tickers Fund Description Gross Net* Fixed Income IGHG ProShares Investment Grade Interest Rate Hedged ETF 11/05/13 NAV 0.96% 5.64% 5.64% 3.50% - 2.66% Market Price 0.56% 4.50% 4.50% 3.40% - 2.61% 0.30% CFIIIGHG Citi Corp Invest Grade (Trsy Rate-Hedged) Index 1.05% 6.24% 6.24% 3.75% - 3.14% LUACTRUU Bloomberg Barclays Inv Grade Corp Bond Index (Unhedged) 0.91% 6.42% 6.42% 3.90% - 4.67% HYHG ProShares High Yield Interest Rate Hedged ETF NAV 0.11% 4.43% 4.43% 2.69% - 1.77% Market Price -0.04% 3.77% 3.77% 2.83% - 1.72% CFIIHYHG Citi High Yield (Treasury Rate-Hedged) Index 0.25% 5.48% 5.48% 3.73% - 2.85% LF98TRUU Bloomberg Barclays US Corporate High Yield Index 0.30% 7.50% 7.50% 6.36% - 5.08% NAV 0.18% 3.33% 3.33% 5.95% - 3.89% 05/21/13 Expense Ratio EMSH ProShares Short Term USD Emerging Markets Bond ETF 11/19/13 2.26% 0.50% Market Price 0.68% 3.43% 3.43% 5.88% - 3.90% DBEMPRO DBIQ Short Duration EM Bond Index 0.17% 4.20% 4.20% 5.81% - 3.92% *Expenses with Contractual Waiver ending 9/30/18. IGHG and HYHG do not have fee waivers. 0.50% 4
Tickers Alternative Fund Description As of 12/31/2017 As of 12/31/2017 Expense Ratio Gross Net* 1-Month 1-Year 3-Year 5-Year PEX ProShares Global Listed Private Equity ETF 02/26/13 NAV 0.53% 15.01% 15.01% 10.07% - 9.26% Market Price 0.58% 14.37% 14.37% 9.49% - 9.21% 3.91% 2.89%** LPXDITU LPX Direct Listed Private Equity Index 0.53% 14.15% 14.15% 10.25% - 9.69% NCUDWI MSCI Small Cap World Index 1.50% 22.66% 22.66% 11.30% - 12.45% NAV 0.45% 5.47% 5.47% 2.43% 2.50% 1.96% HDG ProShares Hedge Replication ETF 07/12/11 Market Price 0.16% 5.59% 5.59% 2.34% 2.57% 1.97% 1.87% MLEIFCTX Merrill Lynch Factor Model Exchange Series Index 0.53% 6.44% 6.44% 3.37% 3.58% 2.94% ARTIUSD Goldman Sachs Absolute Return Tracker Index 1.19% 11.54% 11.54% 4.76% 5.63% 4.48% FUT ProShares Managed Futures Strategy ETF*** NAV 0.13% -2.40% -2.40% - - 0.08% Market Price 0.76% -2.96% -2.96% - - 0.36% SPSFIT S&P Strategic Futures Index 0.14% -1.03% -1.03% - - 1.65% MSDIDFTL Morningstar Diversified Futures Index 1.72% 3.35% 3.35% - - 0.11% NAV 0.49% 2.22% 2.22% 0.26% -1.23% -1.09% Market Price 1.20% 2.08% 2.08% 0.44% -1.25% -1.03% SPLSALT S&P Merger Arbitrage Index 0.55% 2.55% 2.55% 1.14% -0.13% 0.07% CSLABMN Credit Suisse Merger Arbitrage Liquid Index 0.60% 6.30% 6.30% 2.04% 1.19% 1.28% NAV 0.35% 2.46% 2.46% 0.20% - 0.71% Market Price 0.30% 1.97% 1.97% -0.21% - 0.67% DIVALTT Morningstar Diversified Altenatives Index 0.37% 2.71% 2.71% 0.41% - 0.92% Morningstar Multialternative Category Avg Index 0.49% 5.13% 5.13% 1.78% - 1.39% NAV 0.55% -4.50% -4.50% -2.27% 0.75% 0.44% RALS ProShares RAFI Long/Short ETF 12/02/10 Market Price 0.92% -4.63% -4.63% -2.19% 0.82% 0.46% RAFILSTR FTSE RAFI Hybrid Index 0.64% -3.43% -3.43% -1.24% 1.88% 1.61% 02/17/16 MRGR ProShares Merger ETF 12/11/12 ALTS ProShares Morningstar Alternatives Solution ETF 10/08/14 0.95% 2.60% 0.75% 1.44% 0.95% 1.29% 0.95% IQHGMN IQ Hedge Market Neutral Index -0.12% 1.04% 1.05% 0.27% 0.49% 0.64% *Expenses with Contractual Waiver ending 9/30/18, FUT does not have a fee waiver. **This figure includes acquired fund fees. These fees are incurred indirectly through the fund's ownership of shares in other investment companies, such as business development companies or exchange-traded funds. They are not direct costs paid by shareholders or used to calculate net asset value. ***This fund is actively managed. The index shown is a reference benchmark. 0.76% 5
The S&P 500 Dividend Aristocrats Index equally weights current S&P 500 companies that have increased dividend payments each year for at least 25 years and meet certain market capitalization and liquidity requirements. The S&P 500 is a widely used measure of U.S. stock market performance. It includes a representative sample of major companies in leading industries. The S&P MidCap 400 Dividend Aristocrats Index equally weights current S&P MidCap 400 companies that have increased dividend payments each year for at least 15 years and meet certain market capitalization and liquidity requirements. The S&P MidCap 400 is a widely used measure of U.S. mid-sized company stock performance. It generally reflects the distinctive risk and return characteristics of this market segment. The Russell 2000 Dividend Growth Index equally weights current Russell 2000 companies that have increased dividend payments each year for at least 10 years and meet certain market capitalization and liquidity requirements. The Russell 2000 Index is a widely used measure of U.S. small company stock performance. It generally reflects the distinctive risk and return characteristics of this market segment. The MSCI EAFE Dividend Masters Index equally weights current MSCI EAFE companies that have increased dividend payments each year for at least 10 years and meet certain market capitalization and liquidity requirements. The MSCI EAFE Index comprises MSCI country indexes representing developed markets outside of North America: Europe, Australasia and the Far East. The MSCI Europe Dividend Masters Index targets companies that are currently members of MSCI Europe and have increased dividend payments each year for at least 10 years. The index contains a minimum of 25 stocks, which are equally weighted. The MSCI Europe Index captures large and mid cap representation across 15 Developed Markets (DM) countries in Europe. The index covers approximately 85% of the free float-adjusted market capitalization across the European Developed Markets equity universe. The MSCI Emerging Markets Dividend Masters Index targets companies that are currently members of the MSCI Emerging Markets Index and have increased dividend payments each year for at least seven years. The MSCI Emerging Markets Index captures large and mid cap representation across Emerging Markets (EM) countries. The index covers approximately 85% of the free float-adjusted market capitalization in each country. The S&P 500 Ex-Energy Index consists of companies of the S&P 500 from each of the sectors other than the energy sector. Each security in the index is market-cap weighted according to the same rules as the S&P 500. The S&P 500 Ex-Financials & Real Estate Index consists of companies of the S&P 500 from each of the sectors other than the financials and real estate sectors. Each security in the index is market-cap weighted according to the same rules as the S&P 500. The S&P 500 Ex-Health Care Index consists of companies of the S&P 500 from each of the sectors other than the health care sector. Each security in the index is market-cap weighted according to the same rules as the S&P 500. The S&P 500 Ex-Information Technology and Telecommunications Services Index consists of companies of the S&P 500 from each of the sectors other than the information technology and telecommunications sectors (collectively, the technology sector ). Each security in the index is market-cap weighted according to the same rules as the S&P 500. All components of the S&P 500 are assigned to at least one of eleven Select Sector Indices, which track major economic segments and are highly liquid benchmarks. Stock classifications are based on the Global Industry Classification Standard (GICS ). Every Select Sector Stock is also a constituent of the S&P 500. The Credit Suisse 130/30 Large Cap Index is designed to replicate an investment strategy that establishes either long or short positions in certain of the 500 largest U.S. market cap equities by applying a rulesbased ranking and weighting methodology. This results in the index having total long exposure of 130% and total short exposure of 30% at each monthly reconstitution date. The Nasdaq U.S. Large Cap Equities for Rising Rates Index takes the 500 largest listed U.S. stocks and selects the five U.S. large-cap sectors that have demonstrated the highest correlation to weekly changes in 10-Year U.S. Treasury yields over the last three years. The index then identifies the top ten stocks in each sector that have the highest correlation of relative performance compared with 500 of the largest listed U.S. stocks to changes in the 10-year yields. The DJ Brookfield Global Infrastructure Composite Index consists of companies domiciled globally that qualify as "pure-play" infrastructure companies companies whose primary business is the ownership and operation of infrastructure assets, activities that generally generate long-term stable cash flows. 6
The ProShares Long Online/Short Stores Index combines two specialized retail indexes into one. It is 100% long the ProShares Online Retail Index, which tracks retailers that primarily sell online or through other non-store channels, and 50% short the Solactive-ProShares Bricks and Mortar Retail Store Index that brings together traditional in-store retailers. To be included in the Solactive-ProShares Bricks and Mortar Retail Store Index, a retailer must be characterized as receiving at least 50% of its revenue from retail operations; receive 75% or more of its retail revenues from in-store sales; and be a U.S. company. In addition, a retailer must have a market capitalization of at least $500 million, a six-month daily average value traded of at least $1 million, and meet other requirements. To be included in the ProShares Online Index, retailers must: be classified as an online retailer, an e-commerce retailer, or an internet or direct marketing retailer, according to standard industry classification systems; have a market capitalization of at least $500 million; and have a six-month daily average value traded of at least $1 million and meet other requirements. The MSCI World Index represents large- and mid-cap securities across developed markets countries. The Citi Corporate Investment Grade (Treasury Rate-Hedged) Index is comprised of (a) long positions in USD-denominated investment grade corporate bonds issued by both U.S. and foreign domiciled companies; and (b) short positions in U.S. Treasury notes or bonds of, in aggregate, approximate equivalent duration to the investment grade bonds. In entering these positions, the index seeks to achieve an overall effective duration of zero. The Bloomberg Barclays US Investment Grade Corporate Bond Index (Unhedged) measures the investment grade, fixed-rate, taxable corporate bond market. It includes USD-denominated securities publicly issued by US and non-us industrial, utility and financial issuers. The Citi High Yield (Treasury Rate-Hedged) Index is comprised of (a) long positions in USD-denominated high yield corporate bonds and (b) short positions in U.S. Treasury notes or bonds of, in aggregate, approximate equivalent duration. In entering these positions, the index seeks to achieve an overall effective duration of zero. The Bloomberg Barclays US Corporate High Yield Bond Index measures the USD-denominated, high yield, fixed-rate corporate bond market. Securites are classified as high yield if the middle rating of Moody s, Fitch, and S&P is Ba1/BB+/BB+ or below. Bonds from issuers with an emerging markets country of risk, based on the indices EM country definition, are excluded. The DBIQ Short Duration Emerging Market Bond Index SM is composed of a diversified portfolio of USD-denominated emerging markets bonds that have less than five years remaining to maturity that are issued by emerging markets sovereign governments, non-sovereign government agencies and entities, and corporations with significant government ownership. The LPX Direct Listed Private Equity Index consists of up to 30 qualifying listed private equity companies. A listed private equity company is an eligible candidate for the index if its direct private equity investments, as well as cash and cash equivalent positions and post-initial Public Offering listed investments, represent more than 80% of the total assets of the company. The MSCI Small Cap World represents small cap securities across developed market countries. The Merrill Lynch Factor Model Exchange Series seeks to provide the risk and return characteristics of the hedge fund asset class by targeting a high correlation to the HFRI Fund Weighted Composite Index (HFRI). The Goldman Sachs Absolute Return Tracker Index is a benchmark index that seeks to replicate the investment returns of hedge fund betas (i.e., that portion of the returns of hedge funds, as a broad asset class, that results from market exposure rather than manager skill). The S&P Strategic Futures Index is a long/short, rules-based index that seeks to capture economic benefits from both rising and declining trends in futures prices. The Morningstar Diversified Futures Index (DFI) is a fully collateralized futures index that offers diversified exposure to global markets through highly-liquid, exchange listed futures contracts in commodities, currencies, and equities. The index contains 35 different futures positions: 20 commodities, 9 equity indexes, and 6 currencies. The S&P Merger Arbitrage Index follows a true merger arbitrage approach by taking long positions in target securities and short positions in shares of an acquirer when the deal involves an exchange of the acquirer s stock. The short positions are intended to reduce the effect that declines in the value of the acquirer s stock could have on the spread. Credit Suisse Merger Arbitrage Liquid Index seeks to gain broad exposure to the Merger Arbitrage strategy by using a pre-defined quantitative methodology in order to invest in a liquid, diversified and broadly representative set of announced merger deals. The Merger Arbitrage Liquid Index is also a factor within the Credit Suisse Event Driven Liquid Index. The Morningstar Diversified Alternatives Index SM is designed to provide diversified exposure to alternative asset classes in order to enhance risk-adjusted portfolio returns when combined with a range of traditional investments. It allocates among a comprehensive set of alternative ETFs that employ alternative and non-traditional strategies such as long/short, market neutral, managed futures, hedge fund replication, private equity, infrastructure or inflation-related investments. The index consists exclusively of ProShares ETFs. 7
The Morningstar Multialternative Category Average is composed of funds that use a combination of alternative strategies such as taking long and short positions in equity and debt, trading futures, or using convertible arbitrage, among others. The FTSE RAFI Hybrid Index consists of the RAFI US Equity Long/Short Index from 12/31/2010 through 2/29/2016, and the FTSE RAFI US 1000 Long/Short Total Return Index going forward. The IQ Hedge Market Neutral Index seeks to replicate the risk-adjusted return characteristics of the collective hedge funds using a market neutral hedge fund investment style. Market Neutral hedge funds typically invest in both long and short positions in asset classes while minimizing exposure to systematic risk. These strategies seek to have a zero beta (or market ) exposure to one or more systematic risk factors including the overall market (as represented by the S&P 500 Index), economic sectors or industries, market cap, region and country. Market neutral strategies that effectively neutralize the market exposure are not impacted by directional moves in the market. ProShares makes reasonable efforts to obtain content from sources it believes to be reliable, but cannot guarantee that the information is correct, accurate, complete or reliable. This material, other than historical fund performance, is not designed to represent the performance of a specific investment or to make any recommendation. Projections and forward-looking statements are based on assumptions believed to be reasonable; actual results may vary materially. ProShares makes no guarantees regarding specific investment results. Index returns are for illustrative purposes only and do not represent actual fund performance. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. ProShares ETFs are generally non-diversified and each entails certain risks, which may include risk associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease 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. 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 To see the most recent performance numbers please visit www.proshares.com or call 866-776-5125 ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds advisor. 2018 PSA RE-2018-56 8