UltraPro Short Nasdaq Biotechnology - ZBIO UltraPro Short Nasdaq Biotechnology

ProShares UltraProShort Nasdaq Biotechnology seeks daily investment results, before fees and expenses, that correspond to three times the inverse (-3x) of the daily performance of the NASDAQ Biotechnology Index®.

This short ProShares ETF seeks a return that is -3x 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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Important Notice Regarding Fund Closure
— For more information please read the Press Release.

Index/Benchmark Summary

The Nasdaq Biotechnology Index is a modified capitalization weighted index that includes securities of The Nasdaq Stock Market listed companies that are classified as either biotechnology or pharmaceutical. The securities also meet other eligibility criteria determined by The Nasdaq OMX Group, Inc., including minimum market capitalization and liquidity requirements.

Fundamentals as of 12/31/19

Total Number of Companies 217
Price/Earnings Ratio 501.15
Price/Book Ratio 5.18
Dividend Yield *(%) 0.55
Average Index Market Capitalization $5.12 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 12/31/19

Top 10 Index Companies Weight
Amgen Inc. 8.12%
Gilead Sciences Inc. 7.64%
Vertex Pharmaceuticals Inc. 6.69%
Biogen Inc. 6.37%
Illumina Inc. 5.80%
Regeneron Pharmaceuticals Inc. 4.02%
Alexion Pharmaceuticals Inc. 2.88%
Seattle Genetics Inc. 2.36%
Incyte Corp. 2.27%
BioMarin Pharmaceutical Inc. 1.83%

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 12/31/19

Index Sector Weightings § Weight
Biotechnology 78.07%
Pharmaceuticals 10.03%
Life Sciences Tools & Services 9.71%
Health Care Equipment & Supplies 1.19%
Health Care Providers & Services 0.95%
Chemicals 0.04%

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