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 have business operations in the field of smart materials. The index provider uses a natural language processing algorithm to identify companies that fall into one or more of the following categories as (1) production of smart materials, also called intelligent or responsive materials, which can be defined as materials that have properties which can be changed by an external stimulus (such as temperature, electricity or stress), (2) production of materials with certain advanced, innovative, or disruptive qualities, and (3) development of technologies which promote advances and research related to smart materials.