Fund Description: ProShares Online Retail 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 Online Retail ETF seeks investment results, before fees and expenses, that track the performance of the ProShares Online Retail Index. INDEX DESCRIPTION: The ProShares Online Retail Index is designed to measure the performance of publicly traded companies that principally sell online or through other non-store sales channels, such as through mobile or app purchases, rather than through brick and mortar store locations. The Index may include U.S. and non-U.S. companies. To be included in the Index, an Online Retailer’s securities must be listed on a U.S. stock exchange, must have a minimum market capitalization of $500 million and must meet certain liquidity requirements. Non-U.S. companies may not make up more than 25% of the Index. Companies are weighted in the Index using a modified market capitalization approach. FUND STRATEGY: The Fund seeks to invest substantially all of its assets in the stocks that make up the Index and generally holds each stock in approximately the same proportion as its weighting in the Index. Under normal circumstances, the Fund will invest at least 80% of its assets in the component securities of the Index. The Fund may invest in depositary receipts, which principally include American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs). ProShare Advisors believes that investing in Online Retailers is attractive because online sales have been rapidly rising and believes this trend will continue. A passive approach to investing that is designed to track the performance of the Index. The Fund seeks to remain fully invested at all times in securities that provide exposure to the Index without regard to market conditions, trends or direction. FUND MANAGEMENT: ProShare Advisors serves serves as the investment adviser to the Fund.