Form 497 PROSHARES TRUST

August 24, 2016

VIA EDGAR

Securities and Exchange Commission

100 F Street, N.E.

Washington, DC 20549

Ladies and Gentlemen:

Transmitted herewith for filing on behalf of ProShares Trust pursuant to Rule 497 under the Securities Act of 1933, as amended, are exhibits in interactive data format on XBRL, which contain the risk return summary information of the Supplement dated August 22, 2016 for ProShares Ultra FTSE Europe and ProShares UltraShort FTSE Europe, as filed under Rule 497 on August 19, 2016 (SEC Accession No. 0001193125-16-686598).

Should you have any comments or questions, please do not hesitate to contact me at (240) 497-6578.

Very truly yours,

/s/ Robert J. Borzone, Jr.

Vice President and Legal Counsel

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