PROSHARES ULTRA 7-10 YEAR TREASURY (UST)

The investment seeks daily investment results that correspond to two times 2x the daily performance of the Barclays U.S. 7-10 Year Treasury Bond Index. The fund invests in securities and derivatives that ProShare Advisors believes in combination should have similar daily return characteristics as two times 2x the daily return of the index. The index includes all publicly issued U.S. Treasury securities that have a remaining maturity of between 7 and 10 years are non-convertible are denominated in U.S. dollars are rated investment grade are fixed rate and have more than $250 million par outstanding. The fund is non-diversified.

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