ProShares S&P 500 Dynamic Buffer 

The ProShares - S&P 500 Dynamic Buffer ETF is designed to track a specific "Dynamic Buffer Strategy" benchmark, which is tied to the S&P 500 Index. This strategy is constructed by combining a direct long investment in the S&P 500 Index with three different S&P 500 Index options that expire in just one day. Typically, the fund will dedicate at least 80% of its total assets to either the constituent parts of its underlying index or to other investments that share similar economic characteristics. Investors should be aware that this fund is categorized as non-diversified.