The Fund invests in financial instruments that ProShare Advisors believes, in combination, should track the performance of the Index. The Index is designed to measure the performance of companies that provide or use innovative technologies to offer products and services around the metaverse. Metaverse is a term used to refer to a digital world or a future iteration of the internet. The Metaverse is characterized by virtual worlds that create a simulated environment as well as augmented reality where the real-world environment is enhanced by computer generated sensory information. Metaverse is expected to allow people to engage in new ways, such as through internet-based interactions, online gaming and transactions. Metaverse is enabled by several connected technologies, such as virtual and augmented reality, digital environments, artificial intelligence and advanced computing.