Fund Description

The fund invests in financial instruments that ProFund Advisors believes, in combination, should track an index designed to measure U.S.-listed, U.S.-domiciled mid-cap companies. The index selects 400 companies based on market capitalization and weights them by market capitalization, with the Index's composition and assigned weights reevaluated every September and additional weight adjustments in March, June, and December. Under normal circumstances, the fund invests at least 80% of total assets in index components or instruments with similar economic characteristics. It invests principally in common stocks and derivatives, including swap agreements and futures contracts, and typically holds cash in high-quality, short-term money market instruments such as U.S. Treasury bills and repurchase agreements. It uses a mathematical approach, seeks to remain fully invested regardless of market conditions, and may use representative sampling or hold securities not in the index to obtain consistent exposure.