The investment seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the FTSE China 50 Index®. The fund invests in derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as two times the inverse (-2x) of the daily return of the index. The index is comprised of 50 of the largest and most liquid Chinese stocks listed on the Hong Kong Stock Exchange. The fund is non-diversified.