Fund Description

The fund invests in financial instruments that ProFund Advisors believes, in combination, should produce daily returns consistent with its Daily Target. The Index is designed to measure the performance of biotechnology companies included in the S&P Total Market Index and includes companies in the biotechnology sub-industry according to GICS; these companies are weighted using an equal weight methodology with liquidity adjustments, and under normal circumstances the fund will obtain leveraged exposure to at least 80% of its total assets in components of the Index or in instruments with similar economic characteristics. It invests principally in common stocks and derivatives such as swap agreements, and expects cash balances tied to derivatives to be held in high-quality short-term money market instruments including U.S. Treasury bills and repurchase agreements. It seeks to remain fully invested and rebalance daily from one NAV calculation to the next.