BIS – ProShares UltraShort Nasdaq Biotech – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks daily investment results that correspond to two times the inverse (-2x) of the daily performance of the Nasdaq Biotechnology Index®. 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 a set of Nasdaq-listed biotechnology and pharmaceutical companies. Under normal circumstances, the fund will obtain inverse leveraged exposure to at least 80% of its total assets in components of the index or in instruments with similar economic characteristics. The fund is non-diversified.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
BIS	ProShares UltraShort Nasdaq Biotechnology	ETF	Open	—	—	Apr 6, 2010	$1.90M	0.950%	—	—	$1.23M

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