PROSHARES K-1 FREE CRUDE OIL STRATEGY ETF ETF

The investment seeks investment results, before fees and expenses, that track the performance of the Bloomberg Commodity Balanced WTI Crude Oil IndexSM. The fund invests in securities that ProShare Advisors believes, in combination, should track the performance of the index. The index seeks to track the performance of three separate contract schedules for West Texas Intermediate (?WTI?) Crude Oil futures traded on NYMEX. These contract schedules are equally-weighted in the index (1/3 each) at each semi-annual reset in March and September.