ProShares Nasdaq-100 Dorsey Wright Momentum ETF QQQA Strategy

The investment seeks investment results, before fees and expenses, that track the performance of the Nasdaq-100 Dorsey Wright Momentum 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 the 21 securities from the index with the highest momentum. Under normal circumstances, the fund will invest at least 80% of its total assets in components of the index or in instruments with similar economic characteristics. The fund is non-diversified.