The Fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns consistent with the Daily Target. The Index is constructed and maintained by S&P Dow Jones Indices LLC. The Index represents the energy sector of the S&P 500 Index (S&P 500). The Index is one of eleven S&P Select Sector Indices (the Select Sector Indices), each designed to measure the performance of a sector of the S&P 500. Sectors are assigned using the Global Industry Classification Standard (GICS), which classifies securities primarily based on revenues. The Index includes equity securities of companies from the following GICS industries: energy equipment & services and oil & gas consumable fuels.