This report is intended for general information and should not be used to solicit prospective investors. For more complete information please review the prospectus.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. For standardized returns and performance data current to the most recent month end, see Performance .

Shares of these funds are bought and sold at market price (not NAV) and are not individually redeemed from the fund. Brokerage commissions will reduce returns.

Investing involves risk, including the possible loss of principal. ProShares ETFs are generally non-diversified and each entails certain risks, which may include risks 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 ProShares should lose money when their benchmarks or indexes rise. Please see their summary and full prospectuses for a more complete description of risks.

There is no guarantee any ProShares ETF will achieve its investment objective.

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. Separate ProShares Trust II prospectuses are available for Volatility, Commodity, Currency and Managed Futures ProShares.

QQQ, NASDAQ-100 and NASDAQ Biotechnology Index are trademarks of The NASDAQ OMX Group, Inc. Standard & Poor’s, S&P, S&P 500, S&P MidCap 400, S&P SmallCap 600, Standard & Poor’s 500, S&P 500 VIX Short-Term Futures Index, S&P 500 VIX Mid-Term Futures Index, S&P Merger Arbitrage, S&P 500 Dividend Aristocrats , S&P Strategic Futures Index, S&P 400 MidCap Dividend Aristocrats, Dow Jones Index, DJ, Dow Jones Industrial Average, SM The Dow 30, SM Dow Jones U.S. Sector Indexes, Dow Jones Select Sector Indexes, and Dow Jones Brookfield Global Infrastructure Composite Index are products of S&P Dow Jones Indices LLC and its affiliates. The Russell 2000 Index, Russell 2000 Dividend Growth Index and Russell are trademarks of Russell Investment Group. KBW Regional Banking Index SM is a service mark of Keefe, Bruyette and Woods, Inc. MSCI, MSCI Inc., MSCI Index and EAFE are service marks of MSCI. Barclays and Barclays Inc. are trademarks of Barclays Inc. iBoxx is a registered trademark of Markit Indices Limited. Credit Suisse, Credit Suisse 130/30 Large Cap Index and Credit Suisse 30-Year Inflation Breakeven Index are trademarks of Credit Suisse Securities (USA) LLC or one of its affiliates. Research Affiliates Fundamental Index and RAFI are trademarks of Research Affiliates, LLC. Merrill Lynch Factor Model Exchange Series, Merrill Lynch Factor Model, and Merrill Lynch International are intellectual property of Merrill Lynch, Pierce, Fenner & Smith Incorporated or its affiliates (BofAML). Solactive is a trademark of Solactive AG. CITI is a trademark and service mark of Citigroup Inc. or its affiliates, and is used and registered throughout the world. LPX Direct Listed Private Equity Index and LPX are registered trademarks of LPX GmbH. Deutsche Bank and DBIQ Short Duration Emerging Market Bond Index SM are service marks of Deutsche Bank AG. Bloomberg , Bloomberg Commodity Index SM and the names identifying each of the individual Bloomberg Commodity Subindexes are trademarks or service marks of Bloomberg Finance L.P. and its affiliates (collectively, Bloomberg). Morningstar Diversified Alternatives Index SM is a product of Morningstar, Inc. The NYSE Arca Gold Miners Index SM is a service mark of NYSE or its affiliates. The Market Vectors Global Junior Gold Miners Index is the exclusive property of Market Vectors Index Solutions GmbH. All have been licensed for use by ProShares. VIX is a trademark of the Chicago Board Options Exchange, Incorporated (CBOE) and CBOE has agreed that S&P Dow Jones Indices LLC may use the VIX trademark in the names of the Indexes as licensed to ProShares. S&P is a registered trademark of Standard & Poor’s Financial Services LLC (S&P) and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones) and have been licensed for use by S&P Dow Jones Indices LLC and its affiliates. FTSE is a trademark of the London Stock Exchange plc and The Financial Times Limited and is used by FTSE International Limited (FTSE) under license. ProShares have not been passed on by these entities or their subsidiaries or affiliates as to their legality or suitability. ProShares are not sponsored, endorsed, sold or promoted by these entities or their subsidiaries or affiliates, and they make no representation regarding the advisability of investing in ProShares. THESE ENTITIES AND THEIR SUBSIDIARIES AND AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. For standardized returns and performance data current to the most recent month end, see Performance .

Shares of these funds are bought and sold at market price (not NAV) and are not individually redeemed from the fund. Brokerage commissions will reduce returns.

Investing involves risk, including the possible loss of principal. ProShares ETFs are generally non-diversified and each entails certain risks, which may include risks 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 ProShares should lose money when their benchmarks or indexes rise. Please see their summary and full prospectuses for a more complete description of risks.

There is no guarantee any ProShares ETF will achieve its investment objective.

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. Separate ProShares Trust II prospectuses are available for Volatility, Commodity, Currency and Managed Futures ProShares.

Registered Investment Companies are required by the IRS to distribute substantially all of their income and capital gains to shareholders at least annually. For specific tax advice, we recommend you speak with a qualified tax professional.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. For standardized returns and performance data current to the most recent month end, see Performance .

There is no guarantee that distributions will not be made in the future. There is no guarantee that dividends or interest income will be paid.

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. Separate ProShares Trust II prospectuses are available for Volatility, Commodity, Currency and Managed Futures ProShares.

* Before fees and expenses.

** This fund is not an investment company regulated under the Investment Company Act of 1940 and is not afforded its protections. This fund generates a K-1 tax form. Investing in this ETF involves substantial risk, including loss of principal. This ETF may not be suitable for all investors.

‡ The fund is actively managed. The index shown is a reference benchmark. See the individual fund pages for more information.

* Before fees and expenses.

** This fund is not an investment company regulated under the Investment Company Act of 1940 and is not afforded its protections. This fund generates a K-1 tax form. Investing in this ETF involves substantial risk, including loss of principal. This ETF may not be suitable for all investors.

† Since inception returns are cumulative for funds less than one year old; otherwise, returns are annualized. Market returns are based on the composite closing price and do not represent the returns you would receive if you traded shares at other times. The listing date is typically one or more days after the fund inception date. Therefore, NAV is used to calculate market returns prior to the listing date.

‡ The fund is actively managed. The index shown is a reference benchmark. See the individual fund pages for more information.

1 Expenses with Contractual Waiver for 10/1/14 to 9/30/15. The Contractual Waiver for ALTS, GDJJ, GDJS, GDXS, GDXX, REGL and SMDV is from inception to 9/30/16.

2 Expense ratio does not include brokerage commissions and related fees paid by the fund.

3 Futures brokerage commissions are currently paid by the sponsor.

4 May include significant acquired fund fees and expenses incurred indirectly through the fund’s ownership of shares in other investment companies, such as business development companies. These fees are not direct costs paid by shareholders or used to calculate net asset value. See the prospectus for more information.

** This fund is not an investment company regulated under the Investment Company Act of 1940 and is not afforded its protections. This fund generates a K-1 tax form. Investing in this ETF involves substantial risk, including loss of principal. This ETF may not be suitable for all investors.

‡ The fund is actively managed. The index shown is a reference benchmark. See the individual fund pages for more information.

** This fund is not an investment company regulated under the Investment Company Act of 1940 and is not afforded its protections. This fund generates a K-1 tax form. Investing in this ETF involves substantial risk, including loss of principal. This ETF may not be suitable for all investors.

‡ The fund is actively managed. The index shown is a reference benchmark. See the individual fund pages for more information.