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The ProShares Short 20 Year Treasury Fund ("the Fund") seeks daily investment results, before fees and expenses that corresponds to the inverse (opposite) of the daily performance of the Barclays Capital 20 Year U.S. Treasury Index ("the Index"). The Index includes all publicly issued, U.S. Treasury securities that have a remaining maturity greater than 20 years, are non-convertible, are denominated in U.S. dollars, are rated investment grade (at least Baa3 by Moody's Investors Service or BBB- by S&P), are fixed rate, and have more than $250 million par outstanding. The Index is weighted by the relative market value of all securities meeting the Index criteria.