NAV and Intraday Value Information for Certain ProShares
NAVs
On normal trading days, the NAV calculation time for certain ProShares is as follows:
2:30 p.m. ET
ProShares Ultra DJ-UBS Commodity
ProShares UltraShort DJ-UBS Commodity
ProShares Ultra DJ-UBS Crude Oil
ProShares UltraShort DJ-UBS Crude Oil
ProShares Ultra DJ-UBS Natural Gas
ProShares UltraShort DJ-UBS Natural Gas
For these ETFs, the closing level of the underlying benchmark indexes and the daily NAV calculation are determined at the time listed above. Market holiday schedules may also alter NAV calculation and benchmark or index closing times. ProShares will post advance notice on our website of these changes.
Intraday Values and fund holdings files for funds listed above
NAVs and holdings files are based on the ETFs' holdings (and their values) as of the NAV calculation time, but are not disseminated until after the close of NYSE Arca (generally 4:00 p.m.). In addition, Indicative Optimized Portfolio Values (IOPVs) generally are not updated after the time listed above.
Because the IOPVs and NAVs are not expected to be materially updated after the NAV calculation time listed above, they generally do not (with certain exceptions) reflect any price movement in the assets underlying the ETFs' benchmarks after the NAV calculation. Since shares of the ETFs will continue to trade after NAV calculation until the close of NYSE Arca, the value of these shares will be influenced by continuing price movements in these underlying assets. As a result, the market price of the ETFs after the NAV calculation time listed above may vary from the last disseminated IOPV levels or that day’s NAVs.
2011-4433