ProShares ETFs_ CDS Short North American HY Credit ETF – Overview priceless mastercard ad

ProShares

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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. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the fund. Market price returns are based upon the midpoint of the bid/ask spread at 4:00 p.M. ET (when NAV is normally determined for most funds) and do not represent the returns you would receive if you traded shares at other times. Brokerage commissions will reduce returns. Current performance may be lower or higher than the performance quoted.Priceless mastercard ad

for standardized returns and performance data current to the most recent month end, see performance.

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

Shares of any ETF are generally 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, including risks associated with the use of derivatives (swap agreements, futures contracts and similar instruments), leverage and market price variance, all of which can increase volatility and decrease performance. Please see their summary and full prospectuses for a more complete description of risks.Priceless mastercard ad

This ETF is actively managed and there is no guarantee investments selected and strategies employed will achieve the intended results. Active management may also increase transaction costs. Risks related to credit default swaps (CDS) may include lack of an active market and difficulty in valuation. Because this ETF is exposed to high yield credit, there may be greater levels of credit, liquidity and valuation risk than for higher rated instruments. Investors should actively manage and monitor their investments. This ETF may not be suitable for all investors.

Short etfs generally lose value as the underlying credit market improves.

The fund concentrates its investments in certain sectors. Narrowly focused investments typically exhibit higher volatility.Priceless mastercard ad

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.

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Quote data provided by interactive data – real time services, inc. And subject to terms of use.

ProShares are distributed by SEI investments distribution co., which is not affiliated with the funds’ advisor or sponsor.Priceless mastercard ad

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CSM rated 5 stars for the 3-year period ending march 31, 2013 among 99 U.S. Long/short equity funds. © 2013 morningstar, inc. All rights reserved. The information contained herein: (1) is proprietary to morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. The morningstar rating ™ is provided for those etfs with at least a 3-year history. Ratings are based on the ETF’s morningstar risk-adjusted return measure which accounts for variation in monthly performance.Priceless mastercard ad the fund’s performance and rating are calculated based on net asset value (NAV), not market price. An ETF’s risk-adjusted return includes a brokerage commission estimate. This estimate is intended to reflect what an average investor would pay when buying or selling an ETF. This estimate is subject to change, and the actual commission an investor pays may be higher or lower. Morningstar compares each ETF’s risk-adjusted return to the open-end mutual fund rating breakpoints for that category. The top 10% of etfs in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The overall rating for an ETF is based on a weighted average of the time-period ratings (e.G., the ETF’s 3-year rating).Priceless mastercard ad the determination of an ETF’s rating does not affect the retail open-end mutual fund data published by morningstar. Past performance is no guarantee of future results.