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Hot Topics

Introducing Short Oil & Gas and Short Real Estate ProFunds

It's a fact of life—sectors move in and out of favor. To profit from sectors, investors have had to get in the right sector on the way up. No longer. Now ProFunds gives investors new opportunities to seek profits from sectors when they go down.

Short Oil & Gas ProFund is designed to increase when the U.S. energy sector declines and to decrease when the sector rises. Specifically, the fund seeks daily investment results, before fees and expenses, that correspond to the inverse (opposite) of the daily performance of the Dow Jones U.S. Oil & Gas Index.

Short Real Estate ProFund is designed to increase when the U.S. real estate sector declines and to decrease when the sector rises. Specifically, the fund seeks daily investment results, before fees and expenses, that correspond to the inverse (opposite) of the daily performance of the Dow Jones U.S. Real Estate Index.

ProFund	Ticker	CUSIP	Fund Number
Short Oil & Gas
Investor Class	SNPIX	74318W-655	116
Service Class	SNPSX	74318W-663	146
Short Real Estate
Investor Class	SRPIX	74318W-697	118
Service Class	SRPSX	74318W-705	148

Short Oil & Gas and Short Real Estate ProFunds can be used:

To seek profit from a potential decline in the fund's sector benchmark index. (However, you'll experience a loss if the benchmark index rises.)
To seek to mitigate volatility in or losses on stocks or funds in these sectors that you don't want to sell.

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Short Oil & Gas and Short Real Estate ProFunds are each benchmarked to a Dow Jones U.S. Industry index, so investors will know how they should perform on a daily basis as each sector strengthens or weakens.

As with all ProFunds, investors in the Short Oil & Gas and Short Real Estate ProFunds enjoy the flexibility to shift their investments as they see market conditions changing. There are no limits on the number of exchanges among the more than 50 ProFunds, but exchanges may have tax consequences.

About the Dow Jones Industry Benchmarks

The Dow Jones Oil & Gas Index measures the performance of the energy sector of the U.S. equity market. It comprises the major and secondary integrated oil companies; energy exploration and production companies (liquid, solid or gaseous fuels); oil drilling and services firms; pipeline operators and coal companies.

The Dow Jones Real Estate Index measures the performance of the real estate sector of the U.S. equity market. It comprises companies that invest directly or indirectly in real estate via development, management or ownership of shopping malls, apartment buildings and housing developments. It also includes real estate investment trusts ("REITs") that invest in apartments, office and retail properties. REITs are passive investment vehicles that invest mainly in income-producing real estate or real estate-related loans or interests.

More information on these Dow Jones indexes is available from the Dow Jones & Company website at djindexes.com.

Investing in ProFunds involves certain risks, including in all or some cases, leverage, liquidity, concentration, non-diversification and repurchase agreement risks. These risks can increase volatility and decrease performance. Please see the prospectus for a more complete description of these risks. In addition, because sector funds are concentrated in a single area of the market, they can be more volatile and riskier than more diversified mutual funds, and therefore in themselves, don't constitute a complete investment program. All ProFunds permit active investment strategies that can decrease performance and increase expenses.

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Many ProFunds routinely employ leveraged investment techniques that magnify gains and losses, and result in greater volatility in value. Each geared (leveraged or inverse) ProFund seeks a return that is a multiple (e.g., 2x, -2x) of the return of an index or other benchmark (target) for a single day. Due to the compounding of daily returns, geared ProFunds' returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. These effects may be more pronounced in funds with larger or inverse multiples and in funds with volatile benchmarks. Investors should monitor their ProFunds holdings consistent with their strategies, as frequently as daily. For more on risks, please read the prospectus.

ProFunds are not suitable for all investors because of the sophisticated techniques the funds employ. Investing involves risk, including the possible loss of principal. ProFunds entail certain risks, including risk associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease performance. For more on correlation, leverage and other risks, please read the prospectus. There is no guarantee any ProFund will achieve its investment objective.

All ProFunds are subject to active investor risk. There are no restrictions on the size and frequency of trades and no transaction fees. The frequent exchanges our policies permit can decrease performance, increase expenses and cause investors to incur tax consequences.

Carefully consider the investment objectives, risks, charges and expenses of ProFunds before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing.

ProFunds are distributed by ProFunds Distributors, Inc.

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