ProShare Advisors LLC
7501 Wisconsin Avenue
Suite 1000E
Bethesda, MD 20814-6527
Phone: 240.497.6400
Fax: 240.497.6530
www.ProShares.com
July 30, 2018
VIA EDGAR
Securities and Exchange Commission
100 F Street, N.E.
Washington, DC 20549
Re: | ProShares Trust (the Trust) |
(File Nos. 333-89822 and 811-21114) |
Ladies and Gentlemen:
Transmitted herewith for filing on behalf of the Trust pursuant to Rule 497 under the Securities Act of 1933, as amended, are exhibits in interactive data format on XBRL, which contain the risk return summary information of the Supplement dated July 12, 2018 for ProShares Online Retail ETF as filed under Rule 497 on July 12, 2018 (SEC Accession No. 0001193125-18-217030).
Should you have any comments or questions, please do not hesitate to contact me at (240) 497-6400.
Very truly yours, |
/s/ Cheryl Ardin |
Associate Counsel |
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Document Type | dei_DocumentType | 497 |
Document Period End Date | dei_DocumentPeriodEndDate | Jul. 13, 2018 |
Registrant Name | dei_EntityRegistrantName | PROSHARES TRUST |
Central Index Key | dei_EntityCentralIndexKey | 0001174610 |
Amendment Flag | dei_AmendmentFlag | false |
Document Creation Date | dei_DocumentCreationDate | Jul. 13, 2018 |
Document Effective Date | dei_DocumentEffectiveDate | Jul. 13, 2018 |
Prospectus Date | rr_ProspectusDate | Jul. 12, 2018 |
ProShares Online Retail ETF | ||||||||||||||
PROSHARES.COM | ||||||||||||||
Investment Objective | ||||||||||||||
ProShares Online Retail ETF (the “Fund”) seeks investment results, before fees and expenses, that track the performance of the ProShares Online Retail Index (the “Index”). | ||||||||||||||
Fees and Expenses of the Fund | ||||||||||||||
The table below describes the fees and expenses that you may pay if you buy or hold shares of the Fund. | ||||||||||||||
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||||||||||||
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Example: | ||||||||||||||
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of each period. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your approximate costs would be: | ||||||||||||||
| ||||||||||||||
The Fund pays transaction and financing costs associated with the purchase and sale of securities and derivatives. In addition, investors may pay brokerage commissions on their purchases and sales of the Fund’s shares. These costs are not reflected in the table or the example above. | ||||||||||||||
Portfolio Turnover | ||||||||||||||
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when the Fund’s shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the example above, affect the Fund’s performance. The Fund has not yet commenced operations as of the date of this Prospectus. Thus, no portfolio turnover information is provided for this Fund. | ||||||||||||||
Principal Investment Strategies | ||||||||||||||
The Fund seeks to invest substantially all of its assets in the stocks that make up the Index and generally holds each stock in approximately the same proportion as its weighting in the Index. The Index is designed to measure the performance of publicly traded companies that principally sell online or through other non-store sales channels, such as through mobile or app purchases, rather than through “brick and mortar” store locations (“Online Retailers”). The Index may include U.S. and non-U.S. companies. To be included in the Index, an Online Retailer’s securities must be listed on a U.S. stock exchange, must have a minimum market capitalization of $500 million and must meet certain liquidity requirements. Non-U.S. companies may not make up more than 25% of the Index. Companies are weighted in the Index using a modified market capitalization approach. ProShare Advisors LLC (“ProShare Advisors”) believes that investing in Online Retailers is attractive because online sales have been rapidly rising and ProShare Advisors believes this trend will continue. The Fund invests in securities that ProShare Advisors believes will enable the Fund, before fees and expenses, to track the performance of the Index. Under normal circumstances, the Fund will invest at least 80% of its assets in the component securities of the Index.
ProShare Advisors follows a passive approach to investing that is designed to track the performance of the Index. ProShare Advisors does not invest the assets of the Fund in securities or financial instruments based on ProShare Advisors’ view of the investment merit of a particular security or instrument, nor does it conduct conventional investment research or analysis or forecast market movement or trends, in managing the assets of the Fund. The Fund seeks to remain fully invested at all times in securities that provide exposure to the Index without regard to market conditions, trends or direction. The Fund will concentrate its investments in a particular industry or group of industries, country or region to approximately the same extent as the Index is so concentrated. As of May 31, 2018, the Index was concentrated in the Information Technology and Retailing industry groups. The Index is created and sponsored by ProShare Advisors and is licensed for use by ProShares Trust (the “Trust”). Please see “Investment Objectives, Principal Investment Strategies and Related Risks” in the back of the Fund’s Full Prospectus for additional details. | ||||||||||||||
Principal Risks | ||||||||||||||
You could lose money by investing in the Fund.
| ||||||||||||||
Investment Results | ||||||||||||||
Performance history will be available for the Fund after it has been in operation for a full calendar year. After the Fund has a full calendar year of performance information, performance information will be shown on an annual basis. |
Label | Element | Value | ||
---|---|---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |||
Registrant Name | dei_EntityRegistrantName | PROSHARES TRUST | ||
Prospectus Date | rr_ProspectusDate | Jul. 12, 2018 | ||
ProShares Online Retail ETF | ||||
Risk/Return: | rr_RiskReturnAbstract | |||
Risk/Return [Heading] | rr_RiskReturnHeading | PROSHARES.COM | ||
Objective [Heading] | rr_ObjectiveHeading | Investment Objective | ||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | ProShares Online Retail ETF (the “Fund”) seeks investment results, before fees and expenses, that track the performance of the ProShares Online Retail Index (the “Index”). | ||
Expense [Heading] | rr_ExpenseHeading | Fees and Expenses of the Fund | ||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | The table below describes the fees and expenses that you may pay if you buy or hold shares of the Fund. | ||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) |
||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | Portfolio Turnover | ||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when the Fund’s shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the example above, affect the Fund’s performance. The Fund has not yet commenced operations as of the date of this Prospectus. Thus, no portfolio turnover information is provided for this Fund. | ||
Expense Exchange Traded Fund Commissions [Text] | rr_ExpenseExchangeTradedFundCommissions | In addition, investors may pay brokerage commissions on their purchases and sales of the Fund's shares. These costs are not reflected in the table or the example above. | ||
Other Expenses, New Fund, Based on Estimates [Text] | rr_OtherExpensesNewFundBasedOnEstimates | "Other Expenses" are based on estimated amounts for the current fiscal year. | ||
Expense Example [Heading] | rr_ExpenseExampleHeading | Example: | ||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of each period. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your approximate costs would be: |
||
Expense Example Closing [Text Block] | rr_ExpenseExampleClosingTextBlock | The Fund pays transaction and financing costs associated with the purchase and sale of securities and derivatives. In addition, investors may pay brokerage commissions on their purchases and sales of the Fund’s shares. These costs are not reflected in the table or the example above. | ||
Strategy [Heading] | rr_StrategyHeading | Principal Investment Strategies | ||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund seeks to invest substantially all of its assets in the stocks that make up the Index and generally holds each stock in approximately the same proportion as its weighting in the Index. The Index is designed to measure the performance of publicly traded companies that principally sell online or through other non-store sales channels, such as through mobile or app purchases, rather than through “brick and mortar” store locations (“Online Retailers”). The Index may include U.S. and non-U.S. companies. To be included in the Index, an Online Retailer’s securities must be listed on a U.S. stock exchange, must have a minimum market capitalization of $500 million and must meet certain liquidity requirements. Non-U.S. companies may not make up more than 25% of the Index. Companies are weighted in the Index using a modified market capitalization approach. ProShare Advisors LLC (“ProShare Advisors”) believes that investing in Online Retailers is attractive because online sales have been rapidly rising and ProShare Advisors believes this trend will continue. The Fund invests in securities that ProShare Advisors believes will enable the Fund, before fees and expenses, to track the performance of the Index. Under normal circumstances, the Fund will invest at least 80% of its assets in the component securities of the Index.
ProShare Advisors follows a passive approach to investing that is designed to track the performance of the Index. ProShare Advisors does not invest the assets of the Fund in securities or financial instruments based on ProShare Advisors’ view of the investment merit of a particular security or instrument, nor does it conduct conventional investment research or analysis or forecast market movement or trends, in managing the assets of the Fund. The Fund seeks to remain fully invested at all times in securities that provide exposure to the Index without regard to market conditions, trends or direction. The Fund will concentrate its investments in a particular industry or group of industries, country or region to approximately the same extent as the Index is so concentrated. As of May 31, 2018, the Index was concentrated in the Information Technology and Retailing industry groups. The Index is created and sponsored by ProShare Advisors and is licensed for use by ProShares Trust (the “Trust”). Please see “Investment Objectives, Principal Investment Strategies and Related Risks” in the back of the Fund’s Full Prospectus for additional details. |
||
Strategy Portfolio Concentration [Text] | rr_StrategyPortfolioConcentration | The Fund will concentrate its investments in a particular industry or group of industries, country or region to approximately the same extent as the Index is so concentrated. As of May 31, 2018, the Index was concentrated in the Information Technology and Retailing industry groups. | ||
Risk [Heading] | rr_RiskHeading | Principal Risks | ||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | You could lose money by investing in the Fund.
|
||
Risk Lose Money [Text] | rr_RiskLoseMoney | You could lose money by investing in the Fund. | ||
Risk Nondiversified Status [Text] | rr_RiskNondiversifiedStatus |
|
||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | Investment Results | ||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | Performance history will be available for the Fund after it has been in operation for a full calendar year. After the Fund has a full calendar year of performance information, performance information will be shown on an annual basis. | ||
Performance One Year or Less [Text] | rr_PerformanceOneYearOrLess | After the Fund has a full calendar year of performance information, performance information will be shown on an annual basis. | ||
ProShares Online Retail ETF | ProShares Online Retail ETF | ||||
Risk/Return: | rr_RiskReturnAbstract | |||
Management Fees | rr_ManagementFeesOverAssets | 0.58% | ||
Other Expenses | rr_OtherExpensesOverAssets | none | [1] | |
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.58% | ||
1 Year | rr_ExpenseExampleYear01 | $ 59 | ||
3 Years | rr_ExpenseExampleYear03 | $ 186 | ||
|
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Registrant Name | dei_EntityRegistrantName | PROSHARES TRUST |
Prospectus Date | rr_ProspectusDate | Jul. 12, 2018 |
Document Creation Date | dei_DocumentCreationDate | Jul. 13, 2018 |
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end