Rising Rates Opportunity ProFund
Rising Rates Opportunity 10 ProFund
U.S. Government Plus ProFund
(each a "Fund" and, collectively, the "Funds")
Supplement dated December 3, 2021
to the Funds' Summary Prospectus, Statutory Prospectus and Statement of Additional Information
dated November 30, 2021
Michelle Liu no longer serves as portfolio manager of the Funds and has been replaced by Benjamin McAbee. The following changes to each Fund's summary prospectus, statutory prospectus and statement of additional information are effective immediately:
Summary Prospectus and Statutory Prospectus
The "Management" section in each Fund's summary section is deleted in its entirety and replaced with the following:
The Fund is advised by ProFund Advisors. Alexander Ilyasov, Senior Portfolio Manager, and Benjamin McAbee, Portfolio Manager, have jointly and primarily managed the Fund since April 2019 and December 2021, respectively
The paragraph containing Michelle Liu's biography in the "Portfolio Management" section of the Statutory Prospectus is deleted in its entirety.
Statement of Additional Information
Information about Michelle Liu in the "Portfolio Manager Ownership" and "Other Accounts
Managed by Portfolio Managers" tables in the "PORTFOLIO MANAGEMENT" section of the SAI is deleted in its entirety.
For more information, please contact the Fund at 1-866-776-5125.
Please retain this supplement for future reference.