ProShares has filed paperwork with the SEC for a “ProShares NASDAQ-100 – 15% Volatility Target.” The ProShares NASDAQ 100 – 15% Volatility Target (the “Fund”) seeks investment results, before fees and expenses, that correspond to the performance of the NASDAQ 100 – 15% Volatility Index (the “Index,” Bloomberg ticker: [        ]).

The Index seeks to provide dynamic exposure to the stocks of the NASDAQ-100 Index® (the “NASDAQ 100”), which is a modified market capitalization-weighted index that includes 100 of the largest non-financial domestic and international issues listed on The NASDAQ Stock Market. 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 NASDAQ 100 during periods when the realized volatility of the NASDAQ 100 is less than 15% and de-leveraged exposure (i.e., 0—99%) to the NASDAQ 100 during periods when the realized volatility of the NASDAQ 100 is greater than 15%. The Index adjusts exposure between the NASDAQ 100 and three-month U.S. Treasury Bills (the “T-Bill Component”) based upon realized historical volatility of the NASDAQ 100. As the historical realized volatility of the NASDAQ 100 increases relative to the target of 15%, exposure to the NASDAQ 100 will decrease and exposure to the T-Bill Component will increase. As the historical realized volatility of the NASDAQ 100 decreases relative to the target of 15%, exposure to the NASDAQ 100 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 NASDAQ 100.

As of December 31, 2011, the NASDAQ 100 included companies with capitalizations between $[        ] and $[        ]. The average capitalization of the companies comprising the NASDAQ 100 was approximately $[        ]. The NASDAQ 100 is published under the Bloomberg ticker symbol “NDX.” The NASDAQ 100 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

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NEW FILING