ProShares Short MSCI EAFE ETF (EFZ)
Short MSCI EAFE ProShares seeks daily investment results, before fees and expenses, that correspond to the inverse (opposite) of the daily performance of the MSCI EAFE Index.
Because the value of the Index is not computed as of the close of the U.S. securities markets due to differences in trading hours between U.S. and foreign markets, correlation to the Index will be measured by comparing the daily change in the Fund’s net asset value per share to the performance of one or more U.S. exchange traded securities or instruments that reflect the values of the securities underlying the Index as of the close of the U.S. securities markets. 
|Security Description||Notional Value||Market Value||Shares/ Contracts|
|MSCI EAFE SWAPS||-52,911,375.60||-||-73,382.03|
|Net Other Assets / Cash||-||53,012,721.88||53,012,721.88|
Holdings as of 19/11/2009