Fund Description: ProShares Russell 2000 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 Russell 2000 Dividend Growers ETF seeks investment results, before fees and expenses, that track the performance of the Russell 2000 Dividend Growth Index. INDEX DESCRIPTION: The Russell 2000 Dividend Growth Index targets companies that are currently members of the Russell 2000 Index and have increased dividend payments each year for at least 10 years. 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's weight. If there are fewer than 40 stocks with at least 10 consecutive years of dividend growth, the index will include companies with shorter dividend growth histories. The index is rebalanced each March, June, September and December, with an annual reconstitution during the June rebalance. FUND STRATEGY: Under normal circumstances, the Fund will invest at least 80% of its total assets in component securities that are substantially identical to the economic characteristics of the securities of the Index. A passive investment strategy is used that is designed to track the performance of the Index by investing all, or substantially all, of its assets in securities that make up the Index. The Fund may invest in only a representative sample of the securities in the Index or securities not contained in the Index, with the intent of obtaining exposure with aggregate characteristics similar to those of 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.