ProShares, a leading provider of alternative ETFs, announced that effective today, it is lowering the net expense ratio for CSM, a Morningstar rated 5-star ETF, from 95 to 45 basis points. CSM provides an alternative approach for investors who want to outperform large cap indexes, but don’t have faith in actively managed mutual funds.

“CSM combines the discipline and transparency of indexing with an opportunity to beat traditional index returns,” said Michael Sapir, Chairman and CEO of ProShare Advisors LLC, ProShares’ investment advisor. “We’re pleased that now CSM will be even more competitive with other large cap options.”

CSM seeks investment results, before fees and expenses, that track the Credit Suisse 130/30 Large Cap index, a rules-based benchmark designed to outperform an index of the 500 largest capitalization U.S. stocks. It was created in 2007 by recognized experts in quantitative finance—MIT Professor Andrew W. Lo, PhD, and Pankaj N. Patel, CFA, of Credit Suisse. The index has 100% equity exposure and can be expected to move in the same direction as large cap stocks. However, its methodology provides more sources of potential return than a typical large cap index. The index overweights positions in stocks expected to rise and, rather than just underweighting those expected to fall, seeks profit from short exposure.

New Name

ProShares also announced that it is changing the ETF’s name to ProShares Large Cap Core Plus from ProShares Credit Suisse 130/30 to better reflect its role in the large cap portion of a portfolio. The name change will not affect the fund’s holdings or its strategy.

CSM earned a 5-star rating from Morningstar in the U.S. Long/Short Equity ETFs Category Overall for the three- year period ending December 31, 2012.

For more information about Large Cap Core Plus, visit ProShares.com.

About ProShares

Offering the nation’s largest lineup of alternative ETFs, ProShares helps investors to go beyond the limitations of conventional investing and face today’s market challenges. Each ProShares ETF provides access to an alternative investment strategy delivered with the liquidity, transparency and cost effectiveness of an ETF. ProShares’ lineup of 139 ETFs includes Global Fixed Income, Hedge Strategies, Geared (leveraged and inverse), and Inflation and Volatility ETFs.

The net expense ratio is subject to a waiver in effect at least until September 30, 2014.

CSM rated 5 stars for the 3-year period ending December 31, 2012 among 96 U.S. long/short equity ETFs. © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. The Morningstar Rating™ is provided for those ETFs with at least a 3-year history. Ratings are based on the ETF’s Morningstar Risk-Adjusted Return measure which accounts for variation in monthly performance. The fund’s performance and rating are calculated based on net asset value (NAV), not market price. An ETF’s risk-adjusted return includes a brokerage commission estimate. This estimate is intended to reflect what an average investor would pay when buying or selling an ETF. This estimate is subject to change, and the actual commission an investor pays may be higher or lower. Morningstar compares each ETF’s risk-adjusted return to the open-end mutual fund rating breakpoints for that category. The top 10% of ETFs in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The overall rating for an ETF is based on a weighted average of the time-period ratings (e.g., the ETF’s 3-year rating). The determination of an ETF’s rating does not affect the retail open-end mutual fund data published by Morningstar. Past performance is no guarantee of future results.

ProShares has the largest lineup of alternative ETFs in the United States according to Financial Research Corporation (“FRC”), based on analysis of all the known alternative ETF providers (as defined by FRC) by their number of funds and assets (as of 3/31/2012).

There is no guarantee any ProShares ETF will achieve its investment objective.

Investing involves risk, including the possible loss of principal. ProShares are non-diversified and entail certain costs and risks, including risk associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance. Short positions lose value as security prices increase. Leverage can increase market exposure and magnify investment risk. These risks can increase volatility and decrease performance. Please see the summary and full prospectuses for a more complete description of risks.

The index is designed to replicate an investment strategy that establishes either long or short positions in certain of the 500 largest U.S. market cap equities (the “Universe”). Short positions will approximate 30% of index portfolio value. Short sale proceeds are used to purchase 30% more in long positions using leverage. There is no guarantee the index methodology will result in returns exceeding the index Universe returns. It is not possible to invest directly in an index.

“Credit Suisse” and “Credit Suisse 130/30 Large Cap IndexTM” are trademarks of Credit Suisse Securities (USA) LLC or one of its affiliates and have been licensed for use by ProShares. ProShares have not been passed on by Credit Suisse or its affiliates as to their legality or suitability. ProShares based on the Credit Suisse 130/30 Large Cap Index are not sponsored, endorsed, or promoted by Credit Suisse or its affiliates, and they make no representation regarding the advisability of investing in ProShares. THIS ENTITY AND ITS AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES.

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

ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the fund’s advisor.