The investment seeks investment results that track the performance of the RAFI® US Equity Long/Short Index (the "index").
The fund invests in securities and derivatives that ProShare Advisors believes, in combination, should track the performance of the index. The index (Bloomberg Ticker: "RAFILS") allocates an aggregate equal dollar amount to both long and short equity positions. This allocation is based on a comparison of Research Affiliates Fundamental Index® weightings with traditional market capitalization weightings. The fund is non-diversified.