ProShares has filed paperwork with the SEC for a “ProShares Dow 30 – 15% Volatility Target.” The ProShares Dow 30 – 15% Volatility Target (the “Fund”) seeks investment results, before fees and expenses, that correspond to the performance of the Dow 30 – 15% Volatility Index (the “Index,” Bloomberg ticker: [        ]).

The Index seeks to provide dynamic exposure to the stocks of the Dow Jones Industrial AverageSM Index (the “Dow Jones Industrial Average”), which is a price-weighted index maintained by editors of The Wall Street Journal. The dynamic exposure is designed to target an overall volatility for the Index of 15%. The Index seeks to achieve this target volatility through leveraged exposure (i.e., 101—200%) to the Dow Jones Industrial Average during periods when the realized volatility of the Dow Jones Industrial Average is less than 15% and de-leveraged exposure (i.e., 0—99%) during periods when the realized volatility of the Dow Jones Industrial Average is greater than 15%. The Index adjusts exposure between the Dow Jones Industrial Average and three-month U.S. Treasury Bills (the “T-Bill Component”) based upon realized historical volatility of the Dow Jones Industrial Average. As the historical realized volatility of the Dow Jones Industrial Average increases relative to the target of 15%, exposure to the Dow Jones Industrial Average will decrease and exposure to the T-Bill Component will increase. As the historical realized volatility of the Dow Jones Industrial Average decreases relative to the target of 15%, exposure to the Dow Jones Industrial Average will increase and exposure to the T-Bill Component will decrease. The Index will generally be rebalanced daily. The Fund’s returns will differ from the returns of the Dow Jones Industrial Average.

The Dow Jones Industrial Average includes 30 large-cap, “blue-chip” U.S. stocks, excluding utility and transportation companies. Components are selected through a discretionary process with no predetermined criteria except that components should be established U.S. companies that are leaders in their industries, have an excellent reputation, demonstrate sustained growth, are of interest to a large number of investors and accurately represent the sectors covered by the average. The Dow Jones Industrial Average is not limited to traditionally defined industrial stocks, instead, the Dow Jones Industrial Average serves as a measure of the entire U.S. market, covering such diverse industries as financial services, technology, retail, entertainment and consumer goods. Composition changes are rare, and generally occur only after corporate acquisitions or other dramatic shifts in a component’s core business. When such an event necessitates that one component be replaced, the entire Dow Jones Industrial Average is reviewed. As of December 31, 2011, the Dow Jones Industrial Average included companies with capitalizations between $[        ] and $[        ]. The average capitalization of the companies comprising the Dow Jones Industrial Average was approximately $[        ]. The Dow Jones Industrial Average is published under the Bloomberg ticker symbol “INDU.” The Dow Jones Industrial Average has a historical annualized volatility rate for the five year period ended December 31, 2011 of [        ]%.

They did not provide a trading symbol or expense ratio in the initial filing.

For the complete filing click: HERE

NEW FILING