The Fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns consistent with the Daily Target. The Index is designed to measure the performance of materials companies included in the S&P 500 Index. The S&P 500 Index is designed to measure the performance of the largest 500 companies listed and domiciled in the U.S. The Index includes materials companies in the following industries according to the Global Industry Classification Standard (GICS) as chemicals; construction materials; containers and packaging; metals and mining; and paper and forest products. These companies are then weighted based on market capitalization.