Free Writing Prospectus
Filed pursuant to Rule 433
Registration No. 333-163511
May 5, 2010
Product Guide
Short ProShares seek, on a daily basis, to go up when indexes go down or down when indexes go up.
Short ProShares Index/Benchmark Daily
Objective* Trading
Symbol Intraday
Symbol Bloomberg Index Symbol
Short Sector – continued
UltraShort Semiconductors Dow Jones U.S. SemiconductorsSM 200% of the inverse SSG SSG.IV DJUSSC
UltraShort Technology Dow Jones U.S. TechnologySM 200% of the inverse REW REW.IV DJUSTC
UltraShort Telecommunications Dow Jones U.S. Select TelecommunicationsSM 200% of the inverse TLL TLL.IV DJSTEL
UltraShort Utilities Dow Jones U.S. UtilitiesSM 200% of the inverse SDP SDP.IV DJUSUT
Short InternationaL
Short MSCI EAFE MSCI EAFE 100% of the inverse EFZ EFZ.IV MXEA
Short MSCI Emerging Markets MSCI Emerging Markets 100% of the inverse EUM EUM.IV MXEF
Short FTSE/Xinhua China 25 FTSE/Xinhua China 25 100% of the inverse YXI YXI.IV XINOI
UltraShort MSCI EAFE MSCI EAFE 200% of the inverse EFU EFU.IV MXEA
UltraShort MSCI Emerging Markets MSCI Emerging Markets 200% of the inverse EEV EEV.IV MXEF
UltraShort MSCI Europe MSCI Europe 200% of the inverse EPV EPV.IV MXEU
UltraShort MSCI Pacific ex-Japan MSCI Pacific ex-Japan 200% of the inverse JPX JPX.IV MXPFJ
UltraShort MSCI Brazil MSCI Brazil 200% of the inverse BZQ BZQ.IV MXBR
UltraShort FTSE/Xinhua China 25 FTSE/Xinhua China 25 200% of the inverse FXP FXP.IV XINOI
UltraShort MSCI Japan MSCI Japan 200% of the inverse EWV EWV.IV MXJP
UltraShort MSCI Mexico Investable Market MSCI Mexico Investable Market 200% of the inverse SMK SMK.IV MZMXI
Short fixed-income
Short 20+ Year Treasury Barclays Capital 20+ Year U.S. Treasury 100% of the inverse TBF TBF.IV LT11TRUU
UltraShort 7-10 Year Treasury Barclays Capital 7-10 Year U.S. Treasury 200% of the inverse PST PST.IV LT09TRUU
UltraShort 20+ Year Treasury Barclays Capital 20+ Year U.S. Treasury 200% of the inverse TBT TBT.IV LT11TRUU
Short CoMModIty**
UltraShort DJ-UBS Commodity Dow Jones-UBS CommoditySM 200% of the inverse CMD CMD.IV DJUBS
UltraShort DJ-UBS Crude Oil Dow Jones-UBS Crude Oil Sub-IndexSM 200% of the inverse SCO SCO.IV DJUBSCL
UltraShort Gold London PM Gold Fixing 200% of the inverse GLL GLL.IV GOLDLNPM
UltraShort Silver London Silver Fixing 200% of the inverse ZSL ZSL.IV SLVRLN
Short Currency**
UltraShort Euro EUR/USD 4:00 pm ET exchange rate 200% of the inverse EUO EUO.IV —
UltraShort Yen JPY/USD 4:00 pm ET exchange rate 200% of the inverse YCS YCS.IV —
*Before fees and expenses. **Generates a K-1 tax form.
Short ProShares seek, on a daily basis, to go up when indexes go down or down when indexes go up.
Short ProShares Index/Benchmark Daily
Objective* Trading
Symbol Intraday
Symbol Bloomberg Index Symbol
Short MarketCap
Short QQQ® NASDAQ-100® 100% of the inverse PSQ PSQ.IV NDX
Short Dow30SM Dow Jones Industrial AverageSM 100% of the inverse DOG DOG.IV INDU
Short S&P500® S&P 500® 100% of the inverse SH SH.IV SPX
Short MidCap400 S&P MidCap 400TM 100% of the inverse MYY MYY.IV MID
Short SmallCap600 S&P SmallCap 600TM 100% of the inverse SBB SBB.IV SML
Short Russell2000 Russell 2000® 100% of the inverse RWM RWM.IV RTY
UltraShort QQQ® NASDAQ-100® 200% of the inverse QID QID.IV NDX
UltraShort Dow30SM Dow Jones Industrial AverageSM 200% of the inverse DXD DXD.IV INDU
UltraShort S&P500® S&P 500® 200% of the inverse SDS SDS.IV SPX
UltraShort Russell3000 Russell 3000® 200% of the inverse TWQ TWQ.IV RAY
UltraShort MidCap400 S&P MidCap 400TM 200% of the inverse MZZ MZZ.IV MID
UltraShort SmallCap600 S&P SmallCap 600TM 200% of the inverse SDD SDD.IV SML
UltraShort Russell2000 Russell 2000® 200% of the inverse TWM TWM.IV RTY
UltraPro Short QQQ® NASDAQ-100® 300% of the inverse SQQQ SQQQ.IV NDX
UltraPro Short Dow30SM Dow Jones Industrial AverageSM 300% of the inverse SDOW SDOW.IV INDU
UltraPro Short S&P500® S&P 500® 300% of the inverse SPXU SPXU.IV SPX
UltraPro Short MidCap400 S&P MidCap 400TM 300% of the inverse SMDD SMDD.IV MID
UltraPro Short Russell2000 Russell 2000® 300% of the inverse SRTY SRTY.IV RTY
Short Style
UltraShort Russell1000 Value Russell 1000® Value 200% of the inverse SJF SJF.IV RLV
UltraShort Russell1000 Growth Russell 1000® Growth 200% of the inverse SFK SFK.IV RLG
UltraShort Russell MidCap Value Russell Midcap® Value 200% of the inverse SJL SJL.IV RMV
UltraShort Russell MidCap Growth Russell Midcap® Growth 200% of the inverse SDK SDK.IV RDG
UltraShort Russell2000 Value Russell 2000® Value 200% of the inverse SJH SJH.IV RUJ
UltraShort Russell2000 Growth Russell 2000® Growth 200% of the inverse SKK SKK.IV RUO
Short Sector
Short Basic Materials Dow Jones U.S. Basic MaterialsSM 100% of the inverse SBM SBM.IV DJUSBM
Short Financials Dow Jones U.S. FinancialsSM 100% of the inverse SEF SEF.IV DJUSFN
Short Oil & Gas Dow Jones U.S. Oil & GasSM 100% of the inverse DDG DDG.IV DJUSEN
Short Real Estate Dow Jones U.S. Real EstateSM 100% of the inverse REK REK.IV DJUSRE
Short KBW Regional Banking KBW Regional BankingSM 100% of the inverse KRS KRS.IV KRX
UltraShort Basic Materials Dow Jones U.S. Basic MaterialsSM 200% of the inverse SMN SMN.IV DJUSBM
UltraShort Nasdaq Biotechnology NASDAQ Biotechnology® 200% of the inverse BIS BIS.IV NBI
UltraShort Consumer Goods Dow Jones U.S. Consumer GoodsSM 200% of the inverse SZK SZK.IV DJUSNC
UltraShort Consumer Services Dow Jones U.S. Consumer ServicesSM 200% of the inverse SCC SCC.IV DJUSCY
UltraShort Financials Dow Jones U.S. FinancialsSM 200% of the inverse SKF SKF.IV DJUSFN
UltraShort Health Care Dow Jones U.S. Health CareSM 200% of the inverse RXD RXD.IV DJUSHC
UltraShort Industrials Dow Jones U.S. IndustrialsSM 200% of the inverse SIJ SIJ.IV DJUSIN
UltraShort Oil & Gas Dow Jones U.S. Oil & GasSM 200% of the inverse DUG DUG.IV DJUSEN
UltraShort Real Estate Dow Jones U.S. Real EstateSM 200% of the inverse SRS SRS.IV DJUSRE
Investing involves substantial risk, including loss of principal. “QQQ®”, “NASDAQ-100®” and “NASDAQ Biotechnology Index®” are trademarks of The NASDAQ OMX Group, Inc. “S&P 500®” Index, S&P MidCap 400TM Index and S&P SmallCap 600TM Index are trademarks of The McGraw-Hill Companies, Inc. “Dow Jones,” “DJ,” “Dow Jones Industrial AverageSM,” “The Dow 30SM,” “Dow Jones U.S. Sector Indexes,” “Dow Jones Select Sector Indexes,” “Dow Jones-UBS Commodity IndexSM,” and the names identifying each of the individual “Dow Jones-UBS Sub-IndexesSM” are servicemarks of Dow Jones & Company and UBS Securities, LLC, as the case may be. The Russell 3000® Index, Russell 2000® Index, Russell 2000® Growth Index, Russell 2000® Value Index, Russell 1000® Growth Index, Russell 1000® Value Index, Russell Midcap® Growth Index, Russell Midcap® Value Index, are trademarks of the Russell Investment Group. MSCI, MSCI Inc., MSCI Index, and EAFE are servicemarks of MSCI. Barclays Capital and Barclays Capital Inc. are trademarks of Barclays Capital Inc. “Credit Suisse” and “Credit Suisse 130/30 Large-Cap IndexTM”, are trademarks of Credit Suisse Securities (USA) LLC or one of its affiliates. “KBW Regional Banking IndexSM” is a servicemark of Keefe Bruyette & Woods, Inc. “FTSE/Xinhua China 25” is a trademark of FTSE/Xinhua Index Limited (“FXI”). All have been licensed for use by ProShares. “FTSE®” is a trademark of the London Stock Exchange plc and The Financial Times Limited and is used by FXI under license. “Xinhua®” is a trademark of Xinhua Finance Limited and is used by FXI under license. ProShares have not been passed on by these entities or their subsidiaries or affiliates as to their legality or suitability. ProShares are not sponsored, endorsed or promoted by these entities or their subsidiaries or affiliates, and they make no representation regarding the advisability of investing in these products. THESE ENTITIES AND THEIR SUBSIDIARIES AND AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES.
Product Guide
Ultra ProShares seek to double or triple the daily performance of their applicable indexes.
Ultra ProShares Index/Benchmark Daily
Objective* Trading
Symbol Intraday
Symbol Bloomberg Index Symbol
ultra InternatIonal – continued
Ultra MSCI Brazil MSCI Brazil 200% UBR UBR.IV MXBR
Ultra FTSE/Xinhua China 25 FTSE/Xinhua China 25 200% XPP XPP.IVXIN0I
Ultra MSCI Japan MSCI Japan 200% EZJ EZJ.IV MXJP
Ultra MSCI Mexico Investable Market MSCI Mexico Investable Market 200% UMX UMX MZMXI
ULTRAfixed-income
Ultra 7-10 Year Treasury Barclays Capital 7-10 Year U.S. Treasury 200% UST UST.IV LT09TRUU
Ultra 20+ Year Treasury Barclays Capital 20+ Year U.S. Treasury 200% UBT UBT.IV LT11TRUU
ultra CoMModIty**
Ultra DJ-UBS Commodity Dow Jones-UBS CommoditySM 200% UCD UCD.IV DJUBS
Ultra DJ-UBS Crude Oil Dow Jones-UBS Crude Oil Sub-IndexSM 200% UCO UCO.IV DJUBSCL
Ultra Gold London PM Gold Fixing 200% UGL UGL.IV GOLDLNPM
Ultra Silver London Silver Fixing 200% AGQ AGQ.IV SLVRLN
ULTRACurrency**
Ultra Euro EUR/USD 4:00 pm ET exchange rate 200% ULE ULE.IV —
Ultra Yen JPY/USD 4:00 pm ET exchange rate 200% YCL YCL.IV —
*Before fees and expenses. **Generates a K-1 tax form.
Ultra ProShares seek to double or triple the daily performance of their applicable indexes.
Ultra ProShares Index/Benchmark Daily
Objective* Trading
Symbol Intraday
Symbol Bloomberg Index Symbol
Ultra MarketCap
Ultra QQQ® NASDAQ-100® 200% QLD QLD.IV NDX
Ultra Dow30SM Dow Jones Industrial AverageSM 200% DDM DDM.IV INDU
Ultra S&P500® S&P 500® 200% SSO SSO.IV SPX
Ultra Russell3000 Russell 3000® 200% UWC UWC.IV RAY
Ultra MidCap400 S&P MidCap 400TM 200% MVV MVV.IV MID
Ultra SmallCap600 S&P SmallCap 600TM 200% SAA SAA.IV SML
Ultra Russell2000 Russell 2000® 200% UWM UWM.IV RTY
UltraPro QQQ® NASDAQ-100® 300% TQQQ TQQQ.IV NDX
UltraPro Dow30SM Dow Jones Industrial AverageSM 300% UDOW UDOW.IV INDU
UltraPro S&P500® S&P 500® 300% UPRO UPRO.IV SPX
UltraPro MidCap400 S&P MidCap 400TM 300% UMDD UMDD.IV MID
UltraPro Russell2000 Russell 2000® 300% URTY URTY.IV RTY
ULTRAStyle
Ultra Russell1000 Value Russell 1000® Value 200% UVG UVG.IV RLV
Ultra Russell1000 Growth Russell 1000® Growth 200% UKF UKF.IV RLG
Ultra Russell MidCap Value Russell Midcap® Value 200% UVU UVU.IV RMV
Ultra Russell MidCap Growth Russell Midcap® Growth 200% UKW UKW.IV RDG
Ultra Russell2000 Value Russell 2000® Value 200% UVT UVT.IV RUJ
Ultra Russell2000 Growth Russell 2000® Growth 200% UKK UKK.IV RUO
ULTRASector
Ultra Basic Materials Dow Jones U.S. Basic MaterialsSM 200% UYM UYM.IV DJUSBM
Ultra Nasdaq Biotechnology NASDAQ Biotechnology® 200% BIB BIB.IV NBI
Ultra Consumer Goods Dow Jones U.S. Consumer GoodsSM 200% UGE UGE.IV DJUSNC
Ultra Consumer Services Dow Jones U.S. Consumer ServicesSM 200% UCC UCC.IV DJUSCY
Ultra Financials Dow Jones U.S. FinancialsSM 200% UYG UYG.IV DJUSFN
Ultra Health Care Dow Jones U.S. Health CareSM 200% RXL RXL.IV DJUSHC
Ultra Industrials Dow Jones U.S. IndustrialsSM 200% UXI UXI.IV DJUSIN
Ultra Oil & Gas Dow Jones U.S. Oil & GasSM 200% DIG DIG.IV DJUSEN
Ultra Real Estate Dow Jones U.S. Real EstateSM 200% URE URE.IV DJUSRE
Ultra KBW Regional Banking KBW Regional BankingSM 200% KRU KRU.IV KRX
Ultra Semiconductors Dow Jones U.S. SemiconductorsSM 200% USD USD.IV DJUSSC
Ultra Technology Dow Jones U.S. TechnologySM 200% ROM ROM.IV DJUSTC
Ultra Telecommunications Dow Jones U.S. Select TelecommunicationsSM 200% LTL LTL.IV DJSTEL
Ultra Utilities Dow Jones U.S. UtilitiesSM 200% UPW UPW.IV DJUSUT
ultra InternatIonal
Ultra MSCI EAFE MSCI EAFE 200% EFO EFO.IV MXEA
Ultra MSCI Emerging Markets MSCI Emerging Markets 200% EET EET.IV MXEF
Ultra MSCI Europe MSCI Europe 200% UPV UPV.IV MXEU
Ultra MSCI Pacific ex-Japan MSCI Pacific ex-Japan 200% UXJ UXJ.IV MXPFJ
Alpha ProShares seek to provide access to advanced investment strategies.
Alpha ProShares
Index
Trading
Symbol
Intraday
Symbol
Bloomberg Index Symbol
Credit Suisse 130/30
Credit Suisse 130/30 Large Cap
CSM
CSM.IV
CS13030
Each Short or Ultra ProShares ETF seeks a return that is either 300%, 200%, -100%, -200%, or -300% of the return of an index or other benchmark (target) for a single day. Due to the compounding of daily returns, Short or Ultra ProShares’ returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. Investors should monitor their ProShares holdings consistent with their strategies, as frequently as daily. For more on correlation, leverage and other risks, please read the prospectus. Investing involves substantial risk, including loss of principal. ProShares are non-diversified and entail certain risks, including aggressive investment techniques (futures contracts, options, forward contracts, swap agreements and similar instruments), imperfect benchmark correlation, leverage and market price variance. These risks may pose risks different from, or greater than, those associated with a direct investment in the securities underlying the funds’ benchmarks, can increase volatility, and may dramatically decrease performance. There is no guarantee that any ProShares ETF will achieve its investment objective. ProShares are not suitable for all investors.
ProShares Commodity and Currency ETFs are not regulated under the Investment Company Act of 1940. Investing in these ETFs involves significant risks. Investors could lose all or substantially all of their investment. ProShares Trust II (the issuer) has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at sec.gov. Alternatively, the issuer will arrange to send you the prospectus if you request it by calling toll-free 866-PRO-5125, or visit proshares.com, or you may request a copy from any underwriter or other dealer participating in the offering. These funds generate a K-1 tax form.
Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectus(es). Read them carefully before investing. Obtain them from your financial adviser or broker/dealer representative or by visiting proshares.com. ProShares registered under the Investment Company Act of 1940 are distributed by SEI Investments Distribution Co. which is not affiliated with ProFunds Group or its affiliates. 2010-1741