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ProShares Short Real Estate seeks investment results that correspond to the inverse return of the Dow Jones U.S. Real Estate Index (the "Index"). The Index measures the performance of the real estate sector of the U.S. equity market. Component companies include those that invest directly or indirectly through development, management or ownership of shopping malls, apartment buildings and housing developments; and real estate investment trusts ("REITs") that invest in apartments, office and retail properties. REITs are passive investment vehicles that invest primarily in income-producing real estates or real estate related loans or interests.