ProShares RAFI Long/Short ETF (RALS) Changes Index

ProShares, a premier provider of ETFs, announced that ProShares RAFI® Long/Short ETF (RALS) is changing its benchmark to the FTSE RAFI US 1000 Long/Short Total Return Index effective as of market close on Feb. 29, 2016.

About the Index

The FTSE RAFI US 1000 Long/Short Total Return Index allocates an aggregate equal dollar amount to both long and short equity positions. The long equity positions consist of the FTSE RAFI US 1000 Total Return Index, and the short equity positions consist of the Russell 1000 Total Return Index. By going long a “fundamental” index and short a market cap index, the index seeks to provide an alternative to traditional market cap weighting. The index is rebalanced monthly.

About ProShares

ProShares helps investors to go beyond the limitations of conventional investing and face today's market challenges. ProShares strives to help investors build better portfolios by providing access to a wide variety of investment exposures and strategies delivered with the liquidity, transparency and cost effectiveness of ETFs. Our wide array of ETFs can help you reduce volatility, manage risk and enhance returns.

Investing involves risk, including the possible loss of principal. ProShares are generally non-diversified and entail certain risks, including risk associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease performance. Short positions lose value as security prices increase. Leverage can increase market exposure and magnify investment risk. For more on correlation, leverage and other risks, please read the prospectus. There is no guarantee any ProShares ETF will achieve its investment objective.

London Stock Exchange Group companies includes FTSE International Limited ("FTSE"), Frank Russell Company ("Russell"), MTS Next Limited ("MTS"), and FTSE TMX Global Debt Capital Markets Inc. ("FTSE TMX"). All rights reserved. "FTSE®", "Russell®", "MTS®", "FTSE TMX®" and "FTSE Russell" and other service marks and trademarks related to the FTSE or Russell indexes are trademarks of the London Stock Exchange Group companies ("LSEG") and are used by FTSE, MTS, FTSE TMX and Russell under license. All rights in the FTSE RAFI US 1000 Long/Short Total Return Index (the "Index") vest in FTSE International Limited ("FTSE"). ProShares RAFI Long/Short (the "ETF") has been developed solely by ProShares. The Index is calculated by FTSE or its agent. The ETF has not been passed on by LSEG or its affiliates as to its legality or suitability. LSEG and its licensors are not connected to and do not sponsor, advise, recommend, endorse or promote the ETF and do not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of the ETF. LSEG makes no claim, prediction, warranty or representation either as to the results to be obtained from the ETF or the suitability of the Index for the purpose to which it is being put by ProShares. LSEG neither has nor will provide any advice or recommendation in relation to the Index. Neither LSEG nor its affiliates guarantee that the Index has been accurately calculated and no party shall have any liability for any error in such calculation.

Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing.

ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds' advisor.

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