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 consumer discretionary 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 consumer discretionary companies in the following industries according to the Global Industry Classification Standard (GICS) as automobile components, automobiles, household durables, leisure products, textiles, apparel and luxury goods, hotels, restaurants, and leisure, diversified consumer services, distributors, broadline retail, and specialty retail. These companies are then weighted based on market capitalization.