Industry description
The investment seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the S&P MidCap 400® 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 a measure of mid-size company U.S. stock market performance. 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.