Carefully consider the investment objectives, risks, charges and expenses of ProShares and ProFunds before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing. Obtain them at www.proshares.com or www.profunds.com .The iBoxx $ Liquid High Yield Index is a modified market-value weighted index designed to provide a balanced representation of U.S. dollar-denominated high yield corporate bonds for sale within the United States by means of including the most liquid high yield corporate bonds available as determined by the index provider. iBoxx is a registered trade mark of International Index Company Limited (IIC) and has been licensed for use by ProShares. IIC does not approve, endorse or recommend ProShares or ProShares Short High Yield and IIC makes no representation regarding the suitability of investing in ProShares Short High Yield. "ProFunds Group" includes ProFunds mutual funds and ProShares ETFs. ProFunds mutual funds are distributed by ProFunds Distributors, Inc. ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with ProFunds Group or its affiliates.