Fund Description: ProShares MSCI Emerging Markets Dividend Growers ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the ProShares Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The ProShares MSCI Emerging Markets Dividend Growers ETF seeks investment results, before fees and expenses, that track the performance of the MSCI Emerging Markets Dividend Masters Index. INDEX DESCRIPTION: By investing in securities that make up the Index, the Fund focuses on companies that may be able to deliver favorable long-term total returns as a result of their ability and willingness to increase dividends over time. The MSCI Emerging Markets Dividend Masters Index targets companies that are currently members of the MSCI Emerging Markets Index. The Index contains a minimum of 40 stocks, which are equally weighted. No single sector is allowed to comprise more than 30% of the Index weight, and no single country is allowed to comprise more than 50% of the Index weight. The Index is rebalanced each February, May, August and November, with an annual reconstitution during the November rebalance. In order to be included in the Index, companies must first qualify for inclusion in MSCI Emerging Markets which covers approximately 85% of the free float-adjusted market capitalization in each country in the Emerging Markets. Companies in the Index include countries in Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Peru, Philippines, Poland, Qatar, Russia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates which may change over time. FUND STRATEGY: Under normal circumstances, the Fund will invest at least 80% of its total assets in component securities (i.e., securities of the Index and comparable securities that have economic characteristics that are substantially identical to the economic characteristics of the securities of the Index). The securities that the Fund will principally invest in include Equity Securities of companies domiciled in emerging market countries; Depositary Receipts which principally include American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs). While the Fund will generally seek to hold each security (or a related Depository Receipt) in approximately the same proportion as its weighting in the Index, the existence of regulatory constraints, market structure issues and other challenges of investing in emerging market countries may result in the Fund gaining exposure to only a representative sample of the securities in its Index or overweighting or underweighting securities of the Index in relation to their composition in the Index or investing in securities not contained in the Index, with the intent of obtaining exposure with aggregate characteristics similar to the Index. The Fund seeks to remain fully invested at all times in securities that, in combination, provide exposure to the Index without regard to market conditions, trends or direction. FUND MANAGEMENT: ProShare Advisors serves as the investment adviser to the Fund.