ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

UVXY,  [FORMERLY 2x, BUT RATIO WAS CHANGED TO 1.5x] 

ProShares Ultra VIX Short-Term Futures ETF seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the S&P 500 VIX Short-Term Futures Index.*

UVXY provides leveraged exposure to the S&P 500 VIX Short-Term Futures Index, which measures the returns of a portfolio of monthly VIX futures contracts with a weighted average of one month to expiration.

• Designed for knowledgeable investors who seek to:
  Profit from increases in the expected volatility of the S&P 500, as measured by the prices of VIX futures contracts.
  Reduce U.S. equity portfolio risk, since changes in the VIX Short-Term Futures Index have historically been negatively correlated to S&P 500 returns.
  Intended for short-term use; investors should actively manage and monitor their investments, as frequently as daily.
  Does not track the performance of the Cboe Volatility Index (VIX) and can be expected to perform very differently from the VIX.

This fund is not an investment company regulated under the Investment Company Act of 1940 and is not afforded its protections. Please read the prospectus carefully before investing.

This leveraged ProShares ETF seeks returns that are 1.5x the return of an index or other benchmark (target) for a single day, as measured from one NAV calculation to the next. Due to the compounding of daily returns, ProShares' returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. These effects may be more pronounced in funds with larger or inverse multiples and in funds with volatile benchmarks. Investors should monitor their holdings consistent with their strategies, as frequently as daily. For more on correlation, leverage and other risks, please read the prospectus.