ProFund VP Bull

Objective And Strategy

Objective
Seeks investment results, before fees and expenses, that correspond to the performance of the S&P 500.

Strategy
The Fund invests in equity securities that ProFund Advisors believes, in combination, should have similar daily return characteristics as the S&P 500. The Fund invests in equity securities that, in combination, have similar economic characteristics as the S&P 500. Assets not invested in equity securities may be invested in money market instruments.
Tax Inefficient Fund

Principal Risks

* This portfolio is subject to tracking error risk such that the Advisor may not be able to cause the portfolio's performance to match or exceed that of its benchmark, either on a daily or an aggregate basis. Tracking error may cause the portfolio's performance to be less than you expect.

* At times, the Fund's investments may represent industries or industry sectors that are interrelated or have common risks, making it more susceptible to any economic, political, or regulatory developments or other risks affecting those industries and sectors.

* This Fund does not use defensive strategies or attempt to reduce its exposure to poorly performing stocks. Therefore, if the index performs poorly, the Fund, because it is correlated to the index, will perform poorly. Correlation between the Fund's performance and that of the index may also be negatively affected by the Fund's expenses, changes in the composition of the index, and the timing of purchase and redemption of Fund shares.

* A percentage of the fund's investments may be held for relatively short periods of time. Shorter holding periods, in turn, result in higher portfolio turnover and increased brokerage commission costs.