UltraShort MSCI EAFE - EFU UltraShort MSCI EAFE

ProShares UltraShort MSCI EAFE seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the MSCI EAFE Index®.

Because the value of the index is not computed as of the close of the U.S. securities markets due to differences in trading hours between U.S. and foreign markets, correlation to the index will be measured by comparing the daily change in the fund's net asset value per share to the performance of one or more U.S. exchange traded securities or instruments that reflect the values of the securities underlying the index as of the close of the U.S. securities markets.

This short ProShares ETF seeks a return that is -2x the return of its underlying 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 as frequently as daily. For more on risks, please read the prospectus.

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Index/Benchmark Summary

The MSCI EAFE Index (Europe, Australasia, Far East) includes 85% of free float-adjusted market capitalization in each industry group in developed market countries, excluding the U.S. and Canada. As of June 30, 2010, the Index consisted of the following 22 developed market country indexes: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland and the United Kingdom.

Fundamentals as of 6/28/19

Total Number of Companies 923
Price/Earnings Ratio 14.97
Price/Book Ratio 1.60
Dividend Yield *(%) 3.37
Average Index Market Capitalization $19.66 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 6/28/19

Top 10 Index Companies Weight
Nestle SA 2.27%
Novartis AG 1.42%
Roche Holding AG 1.42%
HSBC Holdings PLC 1.20%
Royal Dutch Shell PLC-Class A 1.04%
BP PLC 1.01%
Toyota Motor Corp. 1.01%
SAP SE 0.97%
Total SA 0.95%
AIA Group Ltd. 0.93%

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

Index Holdings as of 6/28/19

Index Country Weightings § Weight
Japan 23.66%
United Kingdom 16.76%
France 11.40%
Switzerland 9.29%
Germany 8.82%
Australia 7.11%
Hong Kong 3.98%
Netherlands 3.60%
Spain 2.97%
Sweden 2.65%
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§ Sum of weightings may not equal 100% due to rounding.