EFU

ProShares UltraShort MSCI EAFE seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the MSCI EAFE Index. The fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns consistent with the fund's investment objective. The index covers approximately 85% of the free float-adjusted, market capitalization in developed market countries, excluding the U.S. and Canada. The fund is non-diversified.