ANEW — ProShares MSCI Transformational Changes ETF ☆

The investment seeks investment results, before fees and expenses, that track the performance of the MSCI Global Transformational Changes Index (the "index"). The fund seeks to invest substantially all of its assets in the securities included in the index. The index selects companies which may benefit from transformational changes in how people work, take care of their health, and consume and connect ("Transformational Changes") - changes accelerated by COVID-19.