Short Financials - SEF Short Financials

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

This short ProShares ETF seeks a return that is -1x 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, holding periods of greater than one day can result in returns that are significantly different than the target return and 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. Investors should consult the prospectus for further details on the calculation of the returns and the risks associated with investing in this product.

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Index/Benchmark Summary

The Dow Jones U.S. Financials Index measures the performance of the financial services industry, among others, of the U.S. equity market. Component companies include regional banks; major U.S. domiciled international banks; full line, life, and property and casualty insurance companies; companies that invest, directly or indirectly in real estate; diversified financial companies such as Fannie Mae, credit card issuers, check cashing companies, mortgage lenders and investment advisors; securities brokers and dealers including investment banks, merchant banks and online brokers; and publicly traded stock exchanges.

Fundamentals as of 6/30/20

Total Number of Companies 284
Price/Earnings Ratio 16.78
Price/Book Ratio 1.52
Dividend Yield *(%) 2.83
Average Index Market Capitalization $17.53 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 6/30/20

Top 10 Index Companies Weight
Berkshire Hathaway Inc.-Class B 7.43%
Visa Inc.-Class A 6.97%
JPMorgan Chase & Co. 6.13%
Mastercard Inc.-Class A 5.59%
Bank of America Corp. 3.97%
American Tower Corp.-Class A 2.45%
Citigroup Inc. 2.28%
Wells Fargo & Co. 2.04%
BlackRock Inc. 1.80%
S&P Global Inc. 1.70%

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 6/30/20

Index Sector Weightings § Weight
Diversified Financials 28.72%
Banks 22.86%
Real Estate 22.03%
Insurance 13.23%
Software & Services 12.57%
Commercial & Professional Services 0.60%

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