The investment seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Russell MidCap® Value Index.
The fund invests in securities and derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as two times (2x) the daily return of the index. The index is an unmanaged, float-adjusted, market capitalization-weighted index comprised of stocks representing approximately half the market capitalization of the Russell Midcap® Index that have been identified as being on the value end of the growth-value spectrum. The fund is non-diversified.
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