ProShares S&P 500 Dividend Aristocrats ETF NOBL Strategy

The investment seeks investment results, before fees and expenses, that track the performance of the S&P 500® Dividend Aristocrats® Index (the "index"). The fund invests in financial instruments that ProShare Advisors believes, in combination, should track the performance of the index. The index is designed to measure the performance of companies in the S&P 500 Index that have consistently increased dividends each year for at least 25 years. Under normal circumstances, it will invest at least 80% of its total assets in components of the index or in instruments with similar economic characteristics.