Fund Description: ProShares Russell U.S. 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 U.S. Dividend Growers ETF seeks investment results, before fees and expenses, that track the performance of the Russell 3000 Dividend Elite Index. INDEX DESCRIPTION: The Russell 3000 Dividend Elite Index contains a minimum of 40 stocks which are equally weighted. As of each quarterly rebalance date, no single sector is allowed to comprise more than 30% of the Index weight. If there are fewer than 40 stocks with at least 35 consecutive years of dividend growth, the Index will include companies with shorter dividend growth histories. The Russell 3000 Index includes large-, mid-, and small capitalization companies. 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). A passive approach to investing that is designed to track the performance of the Index. The Fund attempts to track the performance of the Index by investing all, or substantially all, of its assets in the types of securities that make up the Index, holding each security in approximately the same proportion as its weighting in the Index. At times, the Fund may gain exposure to only a representative sample of the securities in the Index, which exposure is intended to have aggregate characteristics similar to those of the Index, and may invest in securities not contained in the Index. FUND MANAGEMENT: ProShare Advisors serves as the investment adviser to the Fund.