Short Real Estate - REK Short Real Estate

ProShares Short Real Estate seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the Dow Jones U.S. Real EstateSM Index.

This Short ProShares ETF seeks a return that is -1x the return of an index or other benchmark (target) for a single day, as measured from one NAV calculation to the next. Due to the compounding of daily returns, ProShares' returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. These effects may be more pronounced in funds with larger or inverse multiples and in funds with volatile benchmarks. Investors should monitor their holdings consistent with their strategies, as frequently as daily. For more on correlation, leverage and other risks, please read the prospectus.

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Index/Benchmark Summary

The Dow Jones U.S. Real Estate Index measures the performance of the real estate industry of the U.S. equity market. Component companies include those that invest directly or indirectly through development, management or ownership of shopping malls, apartment buildings and housing developments; and real estate investment trusts ("REITs") that invest in apartments, office and retail properties. REITs are passive investment vehicles that invest primarily in income-producing real estate or real estate related loans or interests.

Fundamentals as of 9/29/17

Total Number of Companies 124
Price/Earnings Ratio 35.90
Price/Book Ratio 2.48
Dividend Yield *(%) 4.06
Average Index Market Capitalization $8.49 billion

* Derivative contracts are priced to reflect the underlying index yield and will not generate dividend income. Because ProShares invest in derivatives, they will not have dividend distributions that reflect those of their applicable indexes.

Index Holdings Information as of 9/29/17

Top 10 Index Companies Weight
American Tower Corp.-Class A 5.71%
Simon Property Group Inc.-Class A 4.87%
Crown Castle International Corp. 3.95%
Equinix Inc. 3.38%
Prologis Inc. 3.28%
Public Storage 3.12%
Welltower Inc. 2.52%
Weyerhaeuser Co. 2.49%
AvalonBay Communities Inc. 2.40%
Equity Residential 2.36%

ProShares may invest in financial instruments (including derivatives) that, in combination, should have similar daily price return characteristics to the fund's benchmark.

Index Sector Weightings § Weight
Equity Real Estate Investment Trusts 92.84%
Mortgage Real Estate Investment Trusts 4.66%
Real Estate Management & Development 2.51%

§ Sum of weightings may not equal 100% due to rounding.