ProFunds

Ticker
Investor Class
AFBIX
Service Class
AFBSX

CUSIP
Investor Class
00433W-882
Service Class
00433W-874

Fund Number
Investor Class
111
Service Class
141

Inception Date
4/28/2005

Access Flex Bear High Yield

Vital Statistics

Class	Ticker	CUSIP	Fund Number
Investor	AFBIX	00433W-882	111
Service	AFBSX	00433W-874	141

Inception Date for all share classes is 4/28/2005

NAV

as of 11/19/2009

Class	NAV	% Change	$ Change
Investor	$22.37	0.27%	$0.06
Service	$21.53	0.28%	$0.06

At a Glance
Access Flex Bear High Yield Fund provides inverse exposure to the high yield market without the exchange restrictions and redemption fees generally imposed by other high yield mutual funds. Objective
Access Flex Bear High Yield Fund seeks to provide investment results that correspond generally to the inverse (opposite) of the total return of the high yield market consistent with maintaining reasonable liquidity.

Access Flex Bear High Yield provides inverse exposure to the high yield market, but is not benchmarked to a specific market index. The fund manager does not make active bets on specific securities or segments within the high yield market.

Returns (as of 9/30/2009)

YTD (as of 11/19/2009)	-15.07%
Average Annual One Year	-13.45%
Average Annual Three Year	-4.31%
Average Annual Five Year	––
Average Annual Ten Year	––
Average Annual Since Inception	-4.67%
Cumulative Since Inception	-19.09%
Gross Expense Ratio	1.43%
Net Expense Ratio	––

View Daily Price Movement Performance Chart

Fund Statistics

Limits On Exchanges	None
Minimum Investment
Individual Investor	$15,000
Financial Professionals	$5,000

Investing in ProFunds involves certain risks, including in all or some cases, leverage, liquidity, concentration, non-diversification, foreign investment, foreign currency, high yield, interest rate, credit, market, correlation, aggressive investment technique and repurchase agreement risks. Moreover, there is no guarantee that any ProFund will achieve its investment objective. These risks can increase volatility and decrease performance. All ProFunds permit active investment strategies which can decrease performance and increase expenses.

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Many ProFunds routinely employ leveraged investment techniques that magnify gains and losses and result in greater volatility in value. Each leveraged or inverse ProFund seeks a return that is a multiple (e.g., 200%) of the return of an index or other benchmark (target) for a single day. Due to the compounding of daily returns, leveraged and inverse ProFunds' returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. Investors should monitor holdings consistent with their strategies, as frequently as daily. For more on correlation, leverage and other risks, please read the prospectus.

All ProFunds are subject to active investor risk. There are no restrictions on the size and frequency of trades and no transaction fees. The frequent exchanges our policies permit can decrease performance, increase expenses and incur tax consequences. All ProFunds permit active investment strategies that can decrease performance and increase expenses. In addition, it is important to note that some ProFunds are not suitable for all investors, because of aggressive investment techniques many of the funds employ.

"ProFunds Group" includes ProFunds mutual funds and ProShares ETFs. ProFunds are distributed by ProFunds Distributors, Inc., member FINRA.

Carefully consider the investment objectives, risks, charges and expenses of ProFunds before investing or sending money. This and other information can be found in their prospectuses. Read the prospectus carefully before investing. For a ProFunds prospectus, please call 888-PRO-FNDS (888-776-3637), or visit www.profunds.com. Financial professionals should call 888-PRO-5717 (888-776-5717).

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