ProShares Ultra High Yield (ProShares Ultra High Yield ETF) ETF

The fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns consistent with the Daily Target. The index is designed to measure the performance of U.S. dollar denominated high yield corporate debt. Under normal circumstances, the fund will obtain leveraged exposure to at least 80% of its total assets in components of the index or in instruments with similar economic characteristics. The fund is non-diversified.