Investing involves risk, including the possible loss of principal. ProShares are non-diversified and entail certain risks, including risk associated with the use of derivatives (futures contracts, swap agreements and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease performance. See the prospectus 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 them carefully before investing. Obtain them from your financial advisor or broker/dealer representative or visit proshares.com. “Research Affiliates Fundamental Index®” and “RAFI®” are trademarks of Research Affiliates, LLC. The RAFI® US Equity Long/Short Index is calculated by Dow Jones Indexes, a licensed trademark of CME Group Index Services LLC (“CME Indexes”). “Dow Jones Indexes” is a service mark of Dow Jones Trademark Holdings LLC (“Dow Jones”). ProShares based on the RAFI US Equity Long/Short Index, are not sponsored, endorsed, sold or promoted by CME Indexes, Dow Jones or their respective affiliates, and CME Indexes, Dow Jones and their respective affiliates make no representation regarding the advisability of investing in such product(s). “ProFunds Group” includes ProFunds mutual funds and ProShares ETFs. ProShares are distributed by SEI investments Distribution Co. which is not affiliated with the advisor.