PROSHARES ULTRASHORT BLOOMBERG NATURAL GAS ETF

The investment seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the performance of the Bloomberg Natural Gas SubindexSM for a single day. The fund seeks to meet their investment objectives by investing in Natural Gas futures contracts. It may also invest in swaps if the market for a specific futures contract experiences emergencies or disruptions (e.g., a trading halt or a flash crash) or in situations where the Sponsor deems it impractical or inadvisable to buy or sell futures contracts (such as during periods of market volatility or illiquidity).