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 energy 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 energy companies in the following industries according to the Global Industry Classification Standard (GICS) as energy equipment and services and oil and gas consumable fuels. These companies are then weighted based on market capitalization. The Indexs composition and the assigned weights are reevaluated every September with additional weight adjustments in March, June, and December.