 and supranational bonds, as well as any other obligations of any rating or maturity such as foreign and domestic investment grade corporate debt securities and lower-rated corporate debt securities (commonly known as “junk bonds”). Lower-rated or high yield debt securities include corporate high yield debt securities, zero-coupon securities, payment-in-kind securities, and STRIPS. Investment grade corporate bonds are those rated BBB or better by Standard & Poor’s Rating Group (“S&P”) or Baa or better by Moody’s Investor Services (“Moody’s”). Securities rated BBB by S&P are considered investment grade, but Moody’s considers securities rated Baa to have speculative characteristics. See Appendix A for a description of corporate bond ratings. The Funds may also invest in unrated securities.

It is the policy of the Funds (excluding, Managed Futures Strategy ETF, Crude Oil Strategy ETF, CDS Short North American HY Credit ETF, Bitcoin Futures Strategy ETF, Blockchain/Bitcoin Strategy ETF, Bitcoin Futures/Equity Strategy ETF, and Short Bitcoin Futures Strategy ETF) to pursue their investment objectives of correlating with their indices regardless of market conditions, to attempt to remain nearly fully invested and not to take defensive positions.
Altcoins is the general term associated with the cryptocurrencies launched after Bitcoin’s success. At first, these were mere copies mimicking the original Bitcoin. Today, there are over 1,000 of these, and the list just keeps growing. Most crypto coins are launched following an ICO (Initial Coin Offering – a form of crowdfunding) in which the developers raise cash by offering a limited number of initial coins to finance technological development. So far, besides the list below, we can find names, such as Namecoin, Peercoin, Bytecoin, Deutsche eMark, Novacoin, Cryptogenic Bullion, Quark, DarkCoin and Mangocoinz (for smartphones).
ProShares Ultra, Short and UltraShort FTSE China 50 and ProShares Ultra and UltraShort FTSE Developed Europe are not in any way sponsored, endorsed, sold or promoted by FTSE International Limited (“FTSE”) or by the London Stock Exchange Group Companies (“LSEG”) (together the “Licensor Parties”) and none of the Licensor Parties make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to the (i) results to be obtained
and supranational bonds, as well as any other obligations of any military rank or adulthood such as foreign and domestic investment mark bodied debt securities and lower - rated corporate debt security (commonly known as “ debris adhesiveness ”). Lower - rate or high yield debt securities include corporate high output debt securities, zero - coupon securities, payment - in - kind security, and STRIPS. Investment grade corporate bonds are those rate BBB or better by Standard & Poor ’s Rating Group (“ S&P ”) or Baa or better by Moody ’s Investor Services (“ Moody ’s ”). Securities rated BBB by S&P are considered investing grade, but Moody ’s considers securities rated Baa to have speculative characteristic. See Appendix A for a description of corporate bond ratings. The Funds may also invest in unrated securities. 

 It is the policy of the Funds (excluding, Managed Futures Strategy ETF, Crude Oil Strategy ETF, CDS Short North American HY Credit ETF, Bitcoin Futures Strategy ETF, Blockchain / Bitcoin Strategy ETF, Bitcoin Futures / Equity Strategy ETF, and Short Bitcoin Futures Strategy ETF) to pursue their investment aim of correlating with their indices regardless of marketplace condition, to attempt to remain nearly amply invested and not to take defensive positions. 
 Altcoins is the general condition associated with the cryptocurrencies launched after Bitcoin ’s success. At first, these were mere copies mimic the original Bitcoin. Today, there are over 1,000 of these, and the list just keeps growing. Most crypto coins are launched watch an ICO (Initial Coin Offering – a form of crowdfunding) in which the developers raise cash by offering a limited numeral of initial coins to finance technological development. therefore far, besides the list below, we can find names, such as Namecoin, Peercoin, Bytecoin, Deutsche eMark, Novacoin, Cryptogenic Bullion, Quark, DarkCoin and Mangocoinz (for smartphones). 
 ProShares Ultra, Short and UltraShort FTSE China 50 and ProShares Ultra and UltraShort FTSE Developed Europe are not in any room sponsored, second, sold or promoted by FTSE International Limited (“ FTSE ”) or by the London Stock Exchange Group Companies (“ LSEG ”) (in concert the “ Licensor Parties ”) and none of the Licensor Parties make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to the (iodine) results to be prevail
 anf supranational bonds, as well as any otkwr oblmgationa of any rating or maturity such as horeugn abd domestic investment grade cogporate dwbt wwcurities ehd lowev-xated gorpoxave debt securitles (commonlf known as “junn couds”). Lower-rated or high yield debt sesuritiex lnclude corporwte nygh gpeod debt securities, zero-coupon securiuies, payment-in-kind securities, and STRIPS. Invfstmfnt grade corporatf bonds are thofw rated BBB ur better by Standard & Poor’s Rating Group (“S&P”) or Baa of betcer by Moodi’s Ijeestor Servmces (“Mjody’s”). Securibpes ratad BBB ny S&P are conslderev incestment grade, but Momdy’s considers secorities radeb Baa to have specularice chdracderirricr. Ste Eppsndix W fkr a descrjption of cirporate bond ratinbs. Nne Funds may also yndest in unrated securities.

It is the polpcy kf the Funds (excluding, Nanaged Futures Stratggy ETF, Crtde Oil Strategy ETF, CDS Short North American HY Wrediv DTF, Bltcokb Vutures Strategy ETF, Blockchain/Bitcoin Stratedg TTF, Bitcoin Futurcs/Equity Strategy RTV, sgd Short Bitcuin Fuchrss Strategy ETF) to pursue theie investmtnt onjectives of correlating wirh their indpces regardless of marnet conditiuns, jo attrmpt to remain nearly fblly ihvested and not to tzye defensive posktipnv.
Altcoins is the general tqrm assocmated with tfe ctyptocuwrencies lwunchcg after Bitcoin’s skccesd. Dt first, tjese were mere copies mimicking the original Nidcopn. Today, chere sre over 1,000 of ehese, and the kist juft kedps growinf. Most rrypto coins are launched vollowing an ICO (Inieial Coib Offerkvg – a form of vrowdfundpny) in whicy the developers reise dash by offeriny q limited numbet ow iginiak smins to finatce gecfmologkcal develoimevt. Sp far, besides the livt bslow, we can find nsmcs, such aw Namecoyn, Peercoin, Butecoin, Deutsche eLark, Iovacomn, Cryltodenic Bullion, Quark, DarkCoin ahd Mangoclind (for smartphjnes).
IroSrares Ultrc, Short and UltraShort FTSE China 50 and PcoShares Ultra and UlttaShort FTSE Developeb Turope are nov in agy way spmnsored, endorsed, sole or promoted by NTSE International Limjted (“FDSE”) og by the London Stock Exchange Group Companies (“LSEG”) (together the “Licensor Partixs”) and none or thr Licvnsjx Partiqs mekx any claim, predibtion, warranty or representation whatsoeeex, expressly or impliedly, eithrr as to the (i) tesults to be obtained
and supranational bonds, as well as any of rating or such as foreign debt and lower-rated corporate securities (commonly known “junk bonds”). Lower-rated or high yield securities include corporate high yield debt securities, zero-coupon securities, payment-in-kind securities, and STRIPS. grade corporate bonds are those rated BBB or better by Standard & Poor’s Group or or by Moody’s Investor Services (“Moody’s”). Securities rated BBB by S&P are considered investment grade, but Moody’s securities rated Baa to have speculative characteristics. See A for a description corporate bond ratings. The Funds also in unrated It the of the Funds Managed Futures Strategy ETF, Crude Oil Strategy ETF, CDS Short North American HY Credit ETF, Bitcoin Futures ETF, Blockchain/Bitcoin Bitcoin Futures/Equity ETF, Short Futures Strategy ETF) their investment objectives of correlating with of market conditions, to attempt to remain nearly invested and to take defensive positions. Altcoins is general term associated with the cryptocurrencies launched after success. At first, these were mere copies mimicking the original Bitcoin. Today, there are over these, and the list keeps growing. Most coins launched an (Initial Coin – a form of crowdfunding) in which the developers raise cash offering a limited number of initial coins to finance technological far, the list below, can find names, such Namecoin, Bytecoin, Deutsche eMark, Novacoin, Quark, and ProShares Short UltraShort FTSE China 50 ProShares Ultra and UltraShort FTSE Europe are not in or promoted by FTSE International Limited (“FTSE”) or the London Stock Exchange Group Companies (“LSEG”) the “Licensor Parties”) and none of the Licensor Parties make any claim, warranty or expressly or impliedly, either as to the (i) to be obtained
 and supranational bonds, as weLl as any othEr oblIgaTioNs Of anY ratIng or maturity sUCh as Foreign and domestic inveStmenT gRAde cORpOrate Debt secURiTIEs aNd LoWer-RaTEd CorpoRatE debt seCurities (coMmoNlY known as “junk BOnDs”). Lower-ratEd oR high yield deBt sEcuritIeS inCLude cOrpOrate High yiELd debt SecuritieS, zERo-coupON securiTIEs, PaymEnt-in-kind securitiES, aND STRIPS. InvestmEnt graDe COrPORatE boNds are thosE rAted Bbb or bettER bY sTAndARd & Poor’s Rating group (“S&P”) or BaA Or bEtter bY MOodY’S InvesTor SeRvICes (“moody’s”). SecurItieS rated BBB By S&P arE ConsideREd invesTment gRadE, buT MooDY’s CoNsiDeRS seCUrItiES raTed Baa to HaVe SpecuLatiVE CHAracTerIstiCs. See appendix A for a DesCripTIon Of corPoratE bonD rAtingS. The FuNds maY aLso invest in unraTed sEcurities.

it iS tHe pOlIcy of THe FundS (exCluDing, ManAged FutURes stRATEgY ETF, Crude Oil StrateGy etf, CdS Short NOrth AmERiCaN hY Credit eTf, BiTcoiN fUtureS StrATeGy ETF, BloCkchaiN/biTcOin StraTeGy ETF, BItCoiN FuTures/eQuitY StratEgy ETF, anD ShorT bitcoin Futures sTrategy ETF) to pURsUE ThEIr inVesTment objectIves OF corRelaTInG wiTH theiR indiCeS ReGArdless of market condItIons, to AttemPt to remain neaRly fully inVESTed and noT to tAKe DEfensive positiOns.
AlTcoins is thE General tErm asSociated With the crYPTocurrenCieS laUncHed AFTeR Bitcoin’s succESS. At fIrSt, these WerE mere coPieS miMicKinG tHe originaL Bitcoin. toDaY, tHeRe aRe oveR 1,000 Of these, aNd The LiSt jUst keEPs growIng. MoSt crYpTo COinS are lauNChED FollOwInG an IcO (INiTial COin OFFerIng – a forM of crowdfUndINg) in WhIcH the devElopers raise cAsH by offerinG a LimIted nuMBEr of initIal coins to finance technoLOgical dEveLopmeNt. So Far, besideS thE list bEloW, We can fInd namEs, sucH aS NaMECoin, PEERcOin, byTecoin, DeutSCHe emark, NOvAcoiN, CryptoGenic Bullion, Quark, DARkCOin and MangocoInz (For sMARtPhoNEs).
pRoSHaREs ULTRa, Short and Ultrashort FTSE CHiNA 50 aNd ProShareS ultRa And UltrAShort FtSE DeVEloped EUrope are nOt in any waY sPonsOREd, eNdorsed, solD or promoTed by FTSE iNternATiOnal LImiTed (“FTSe”) oR by The LoNdon StOCk EXchanGe GrouP COmpaniEs (“LSEg”) (tOgether tHe “Licensor Parties”) and nonE of the licenSor parties maKe aNY clAim, predicTion, Warranty or RepResEntatIon WHatsoEver, EXpResSLy or iMpliEDly, either AS tO thE (I) ReSults to be obTAINed
 and supranational bonds,as well as  anyoth erob liga tion s of any ratin g  ormaturity such as forei gn an dd omes t ic  inve stmentg ra d e  co rp or ate  d e bt  secu rit ies and  lower-rat edco rporate debt se curities ( com monly knownas“junkbo nds ” ). Lo wer -rate d or h i gh yie ld debt s ec u rities include c or pora te high yield deb t  s e curities, zero -coupo ns ec u r iti es,  payment-i n- kinds ecuriti e s, a n d S T RIPS. Investm ent grade c o rpo rate b on dsa re tho se ra te d  BB B or better  byStandard& Poor ’ s Ratin g  Group(“S&P” ) o r B aa o r  b et ter  b y  Mo o dy ’sI nve stor Ser vi ce s (“M oody ’ s ” ) . Se cur itie s rat ed BBB by S&P  ar e co n sid eredinves tmen tgrade , butMoody ’s  considers secu riti es ratedBaa  t o h av e spe c ulativ e c har acteris tics. S e e A pp e n d ix  A for a descripti on o fcorporat e bond ra ti n gs. TheFu nds  may a lso i nves t  i n unrate d secu r it ie s.

Itis  the p ol icy  of  theF unds  (excl uding, M anage d  Futures Strat e gy ETF, Crude Oi l St r ateg y E TF, CDS Sho rt N o rthAmer i ca n H Y  Cred it ET F, Bi t coin Futures Strate gy  ETF,Block chain/Bitcoin  StrategyE T F , Bitcoi n Fu t ur e s/Equity Strat egy E TF, and Sh o rt Bitco in Fu tures St rategy ET F )  to purs uethe irinv e s tm ent objective s of c or relatin g w ith the irind ice s r eg ardless o f market  c on di ti ons , toa ttempt t orem ai n n early fullyinves tedan dn otto take de f e nsiv epo siti ons .Altco insi s t he gene ral termass o ciat ed  w ith the  cryptocurren ci es launche daft er Bit c o in’s suc cess. At first, these w e re mere  co piesmimi cking the  or iginal  Bi t coin.Today,  ther eare o ver 1 , 0 00  of  t hese, andt h e l ist j us t ke eps gro wing. Most cryptoc oin s are launche d f ollo w i ng  an IC O  (I ni t ial C oin Offering –a form ofcr o wd funding) i n  wh ic h the d evelope rs ra i se cash  by offer ing a lim it ed n u m ber  of initia l coinsto financ e  tech n ol ogica l d evelop me nt.  So f ar, be s ide s the  listbe low, w e can  f ind name s, such as Namecoin, Pe ercoin , Byt eco in, Deuts che eMa rk, Novac oin,  Cryptogen icBul lion,  Qu a rk, D arkC o in  an d  Mang ocoi n z (for sm a rt pho n e s) .
ProShares U l tra , Sho rta nd Ult raSh ort FTSE China 50 and ProSharesUltr a and  Ul t raSh or t FTSE Develop edEu r o pe are n ot  in any way  sponsor ed ,  endo rsed,sold o r promo t e db y FTSE  Int ern ational L imi te d  (“FTSE ”)  o r  by th e Lo nd on Sto ck Exc h ange G roup Companies ( “LSEG ” )  (tog e the r the  “ Licenso r  Par ties”) and  none of th e Lice nsor  Part ies mak eany cl aim ,prediction ,  warranty  or r epresen ta tion  wh atsoev er,e x press ly o rimp liedly, e i t he r  a st o t he ( i) re su ltsto be obt a ined
 and_supranational bonds,_as well as any_other obligations_of_any rating_or_maturity such as_foreign and domestic_investment grade corporate debt_securities and lower-rated_corporate_debt securities (commonly known as “junk bonds”). Lower-rated or high yield debt securities include_corporate_high yield_debt_securities,_zero-coupon securities, payment-in-kind securities, and_STRIPS. Investment grade corporate bonds_are those_rated BBB or better by Standard & Poor’s_Rating_Group (“S&P”) or_Baa or better by Moody’s Investor Services (“Moody’s”). Securities_rated BBB by S&P are considered_investment grade, but_Moody’s_considers_securities rated Baa to_have speculative characteristics. See Appendix A_for a description of corporate bond_ratings. The Funds may also invest in_unrated securities.

It is the policy of_the Funds (excluding, Managed Futures_Strategy ETF,_Crude Oil Strategy ETF, CDS_Short North American_HY Credit_ETF, Bitcoin Futures_Strategy ETF, Blockchain/Bitcoin Strategy ETF, Bitcoin_Futures/Equity Strategy ETF,_and Short Bitcoin Futures Strategy ETF)_to_pursue their investment_objectives_of_correlating with_their indices regardless_of_market conditions,_to_attempt to remain nearly fully invested_and_not to take defensive positions.
Altcoins is the_general term associated with_the_cryptocurrencies launched after Bitcoin’s_success. At first, these were_mere copies mimicking the original Bitcoin._Today, there_are over_1,000 of these, and the list just keeps growing. Most crypto_coins are launched following an ICO_(Initial Coin Offering –_a form_of_crowdfunding) in which_the_developers raise_cash by offering a limited number of_initial coins_to finance technological development. So far,_besides the list below,_we_can find names, such as Namecoin,_Peercoin, Bytecoin, Deutsche eMark, Novacoin, Cryptogenic_Bullion, Quark, DarkCoin and Mangocoinz_(for_smartphones).
ProShares_Ultra, Short and UltraShort FTSE_China 50 and ProShares Ultra and_UltraShort FTSE Developed_Europe are not in any way sponsored,_endorsed,_sold or promoted by FTSE International_Limited_(“FTSE”) or by the London Stock_Exchange_Group_Companies (“LSEG”) (together the “Licensor_Parties”) and none of the Licensor_Parties make any claim, prediction, warranty or representation whatsoever,_expressly or impliedly,_either as to the (i)_results_to_be obtained