[November 17, 2016]

ProShares' NOBL Earns 5-Star Morningstar Rating

ProShares, a premier provider of ETFs, today announced that its rapidly growing ProShares S&P 500 Dividend Aristocrats ETF (NOBL) earned a 5-Star Morningstar Rating^TM the first time it was eligible for a Morningstar rating.

NOBL tracks the S&P 500 Dividend Aristocrats Index, which is composed of the S&P 500 companies with at least 25 years of consecutive dividend growth. Currently, only 50 companies meet the Dividend Aristocrats' standard. No other ETF or mutual fund tracks the S&P 500 Dividend Aristocrats.

"Since 2005, the S&P 500 Dividend Aristocrats Index has demonstrated outperformance with lower volatility," said Michael L. Sapir, co-founder and CEO of ProShare Advisors, LLC, the advisor to ProShares. "By tracking the Aristocrats, NOBL invests in quality companies that have had stable earnings streams and robust fundamentals."

NOBL added more than $1.3 billion in new assets so far this year, bringing total assets to nearly $2.4 billion¹.

Largest Suite of Dividend Growers ETFs

ProShares offers the largest suite of dividend growers ETFs. Each ETF invests in the companies with the longest track records of dividend growth in a popular U.S. or international index.

ProShares Dividend Growers suite includes:

About Morningstar's Ratings

NOBL earned Morningstar's 5-star rating for its performance during the three-year period ending Oct. 31, 2016. NOBL was rated against 1,384 U.S.-domiciled Large Blend funds.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on how well they've performed (after adjusting for risk and accounting for sales charges) in comparison to similar funds. Within each Morningstar category, the top 10% of funds receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. Funds are rated for up to three time periods-three, five, and 10 years-and these ratings are combined to produce an Overall Morningstar Rating.

About ProShares

ProShares helps investors to go beyond the limitations of conventional investing and face today's market challenges. ProShares strives to help investors build better portfolios by providing access to a wide variety of investment exposures and strategies, delivered with the liquidity, transparency and cost effectiveness of ETFs. Our wide array of ETFs can help you reduce volatility, manage risk and enhance returns.

As of 9/30/2016, NOBL returned 19.16% (NAV)/19.14% (market price) for the one-year period and 12.86% (NAV)/12.87% (market price) since NOBL's inception on 10/9/2013. This compares with the S&P 500's returns of 15.43% for the one-year period and 11.79% since NOBL's inception. NOBL's expense ratio is 0.35%. From NOBL's inception through 9/30/2016, NOBL had a standard deviation of 10.05% compared with 10.76% for the S&P 500.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. Performance data current to the most recent month-end may be obtained by calling 866-776-5125 or visiting ProShares.com. Index performance does not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in any index.

There is no guarantee dividends will be paid. Companies may reduce or eliminate dividends at any time, and those that do will be dropped from the index at reconstitution each January.

Investing involves risk, including the possible loss of principal. ProShares are generally non-diversified and each entails certain risks, which may include imperfect benchmark correlation and market price variance, that can increase volatility and decrease performance. Diversification may not protect against market loss. Please see their summary and full prospectuses for a more complete description of risks. There is no guarantee any ProShares ETF will achieve its investment objective.

© 2016 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. NOBL was rated against 1,384 U.S.-domiciled Large Blend funds for the last three years, ending October 31, 2016. With respect to these Large Blend funds, NOBL received a Morningstar Rating of 5 stars for the three-year period. Past performance is no guarantee of future results.

The "S&P 500 Dividend Aristocrats Index" and "S&P MidCap 400^® Dividend Aristocrats Index" are products of S&P Dow Jones Indices LLC and its affiliates. "Russell 2000^® Dividend Growth Index" and "Russell^®" are trademarks of Russell Investment Group. "MSCI," "MSCI Inc.," "MSCI Index" and "EAFE" are service marks of MSCI. All have been licensed for use by ProShares. "S&P" is a registered trademark of Standard & Poor's Financial Services LLC ("S&P") and "Dow Jones®" is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones") and have been licensed for use by S&P Dow Jones Indices LLC and its affiliates. ProShares have not been passed on by S&P Dow Jones Indices LLC and its affiliates as to their legality or suitability. ProShares based on the S&P 500 Dividend Aristocrats Index are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates, and they make no representation regarding the advisability of investing in ProShares. THESE ENTITIES AND THEIR AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES.

Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing. Obtain them from your financial advisor or broker-dealer representative or visit ProShares.com.

ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds' advisor.

¹ Assets as of Oct. 31, 2016

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