To Domestic Custody Agreement Between JPMorgan Chase Bank, N.A. (“Bank”) and ProShares Trust (“ProShares”), dated as of May 25, 2006 as amended through April 7, AMENDMENT #22 dated as of December 30, 2011

Exhibit (g)(1)(d)

EXECUTION COPY

EXHIBIT 1

To Domestic Custody Agreement Between JPMorgan Chase Bank, N.A. (“Bank”)

and ProShares Trust (“ProShares”), dated as of May 25, 2006 as amended through April 7,

2011 (the “Agreement”), and as amended by

AMENDMENT #22 dated as of December 30, 2011

The following are the lists of funds and corresponding fee schedules for which Bank shall provide services in accordance with the Agreement. This Exhibit replaces in its entirety Exhibit 1 and the corresponding fee schedules of the Agreement. Except as amended hereby, all other terms and conditions of the Agreement remain unchanged and the Agreement shall remain in full force and effect.

PROSHARES TRUST PORTFOLIOS

THAT ARE PARTIES TO THIS CUSTODY AGREEMENT

1. ProShares Short S&P500

2. ProShares Short QQQ

3. ProShares Short Dow30

4. ProShares Short MidCap400

5. ProShares UltraShort S&P500

6. ProShares UltraShort QQQ

7. ProShares UltraShort Dow30

8. ProShares UltraShort MidCap400

9. ProShares Ultra S&P500

10. ProShares Ultra QQQ

11. ProShares Ultra Dow30

12. ProShares Ultra MidCap400

13. ProShares Ultra SmallCap600

14. ProShares Ultra Russell2000

15. ProShares Short SmallCap600

16. ProShares Short Russell2000

17. ProShares UltraShort SmallCap600

18. ProShares UltraShort Russell2000

19. ProShares Ultra Basic Materials

20. ProShares Ultra Consumer Goods

21. ProShares Ultra Consumer Services

22. ProShares Ultra Financials

23. ProShares Ultra Health Care

24. ProShares Ultra Industrials

25. ProShares Ultra Oil & Gas

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26. ProShares Ultra Real Estate

27. ProShares Ultra Semiconductors

28. ProShares Ultra Technology

29. ProShares Ultra Utilities

30. ProShares UltraShort Basic Materials

31. ProShares UltraShort Consumer Goods

32. ProShares UltraShort Consumer Services

33. ProShares UltraShort Financials

34. ProShares UltraShort Health Care

35. ProShares UltraShort Industrials

36. ProShares UltraShort Oil & Gas

37. ProShares UltraShort Real Estate

38. ProShares UltraShort Semiconductors

39. ProShares UltraShort Technology

40. ProShares UltraShort Utilities

41. ProShares Ultra Russell1000 Value

42. ProShares Ultra Russell1000 Growth

43. ProShares Ultra Xxxxxxx XxxXxx Value

44. ProShares Ultra Xxxxxxx MidCap Growth

45. ProShares Ultra Russell2000 Value

46. ProShares Ultra Russell2000 Growth

47. ProShares UltraShort Russell1000 Value

48. ProShares UltraShort Russell1000 Growth

49. ProShares UltraShort Xxxxxxx XxxXxx Value

50. ProShares UltraShort Xxxxxxx MidCap Growth

51. ProShares UltraShort Russell2000 Value

52. ProShares UltraShort Russell2000 Growth

53. ProShares Short MSCI Emerging Markets

54. ProShares Short MSCI EAFE

55. ProShares UltraShort MSCI Emerging Markets

56. ProShares UltraShort MSCI Japan

57. ProShares UltraShort MSCI EAFE

58. ProShares UltraShort FTSE China 25

59. ProShares UltraShort 7-10 Year Treasury

60. ProShares UltraShort 20+ Year Treasury

61. ProShares Ultra FTSE China 25

62. ProShares Ultra MSCI Japan

63. ProShares Ultra Telecommunications

64. ProShares UltraShort Telecommunications

65. ProShares Short Financials

66. ProShares Short Oil & Gas

67. ProShares Ultra MSCI EAFE

68. ProShares Ultra MSCI Emerging Markets

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69. ProShares Ultra Russell3000

70. ProShares UltraShort MSCI Europe

71. ProShares UltraShort MSCI Pacific ex-Japan

72. ProShares UltraShort MSCI Brazil

73. ProShares UltraShort MSCI Mexico Investable Market

74. ProShares UltraShort Russell3000

75. ProShares Credit Suisse 130/30

76. ProShares UltraPro S&P500

77. ProShares UltraPro Short S&P500

78. ProShares Short 20+ Year Treasury

79. ProShares Ultra 7-10 Year Treasury

80. ProShares Ultra 20+ Year Treasury

81. ProShares UltraPro Dow30

82. ProShares UltraPro MidCap400

83. ProShares UltraPro Russell2000

84. ProShares UltraPro QQQ

85. ProShares UltraPro Short Dow30

86. ProShares UltraPro Short MidCap400

87. ProShares UltraPro Short Russell2000

88. ProShares UltraPro Short QQQ

89. ProShares Short Basic Materials

90. ProShares Short Real Estate

91. ProShares Short FTSE China 25

92. ProShares Ultra Nasdaq Biotechnology

93. ProShares UltraShort Nasdaq Biotechnology

94. ProShares Ultra KBW Regional Banking

95. ProShares Short KBW Regional Banking

96. ProShares Ultra MSCI Europe

97. ProShares Ultra MSCI Pacific ex-Japan

98. ProShares Ultra MSCI Brazil

99. ProShares Ultra MSCI Mexico Investable Market

100. ProShares RAFI Long/Short

101. ProShares Hedge Replication ETF

102. ProShares UltraShort TIPS

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103. ProShares Short High Yield

104. ProShares Short Investment Grade Corporate

105. ProShares Ultra Short 3-7 Year Treasury

106. ProShares Short 7-10 Year Treasury

107. ProShares Ultra High Yield

108. ProShares Ultra Investment Grade Corporate

109. ProShares German Sovereign / Sub-Sovereign ETF

110. ProShares UltraPro 10 Year TIPS/TSY Spread

111. ProShares UltraPro Short 10 Year TIPS/TSY Spread

112. ProShares 30 Year TIPS/TSY Spread

113. ProShares Short 30 Year TIPS/TSY Spread

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EXECUTION COPY

SCHEDULE A

PROSHARES TRUST

FEE SCHEDULE

FOR

GLOBAL CUSTODY AND AGENCY SERVICES

from

JPMORGAN CHASE BANK, N.A.

A. Global Custody Core Service Fees

US Tiered Safekeeping Fee
From		To		Annual Fee Basis Points
		$10,000,000,000		1.00
$10,000,000,001		$25,000,000,000		0.70
$25,000,000,001				0.50

Other Transactions		Fee
Transactions – DTC non-Xxxxxxx index funds			4.00
Transactions – DTC Xxxxxxx index funds			3.50
Transactions – Fed Book Entry			5.00
Transactions – Physical/Private Placement			12.00
Futures/ Options			12.00
Wires			8.00
In-Kind Transactions non-Xxxxxxx index funds			4.00
In-Kind Transactions Xxxxxxx index funds			3.50
Manual Instruction Surcharge			25.00

JPMorgan will waive 0.1 bps of the annual U.S. Tiered Safekeeping Fee for twelve months beginning with an effective date of June 1^st 2011

B. Out-of-Pocket Fees (Custody Only)

The Trust shall reimburse JPMorgan for all reasonable out-of-pocket expenses incurred on its behalf.

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FEE SCHEDULE (continued)

FOR

GLOBAL CUSTODY AND AGENCY SERVICES

C. Global Fee Schedule

Global Custody Core Service Fees

Asset charges (per annum) and Transaction charges (per security movement). These global custody fees are all the fees contemplated in Section 4.1 of the Global Custody Rider to this agreement.

Country of Investment		Holdings (basis points)				Transactions (U.S. Dollars)
Argentina			20.00				45.00
Australia			2.00				20.00
Austria			2.50				35.00
Belgium			2.50				25.00
Brazil			12.00				45.00
Chile			20.00				45.00
China			20.00				45.00
Colombia			25.00				75.00
Czech Republic			17.00				45.00
Denmark			2.00				25.00
Egypt			25.00				50.00
Finland			2.00				25.00
France			1.75				20.00
Germany			1.00				15.00
Greece			8.00				25.00
Hong Kong			3.00				35.00
Hungary			17.00				45.00
India			10.00				45.00
Indonesia			8.00				35.00
Ireland			2.00				35.00
Israel			15.00				45.00
Italy			2.00				20.00
Japan			1.25				20.00

Country of Investment		Holdings (basis points)				Transactions (U.S. Dollars)
Jordan			35.00				75.00
Korea			10.00				35.00
Malaysia			8.00				35.00
Mexico			8.00				25.00
Morocco			35.00				75.00
Netherlands			2.00				20.00
New Zealand			3.00				35.00
Norway			2.00				35.00
Pakistan			35.00				75.00
Peru			25.00				75.00
Philippines			8.00				35.00
Poland			17.00				45.00
Portugal			4.00				35.00
Russia			17.00				45.00
Singapore			4.00				35.00
South Africa			8.00				35.00
Spain			2.50				35.00
Sweden			2.00				25.00
Switzerland			2.00				20.00
Taiwan			15.00				45.00
Thailand			8.00				35.00
Turkey			10.00				35.00
United Kingdom			1.00				15.00

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FEE SCHEDULE (continued)

FOR

GLOBAL CUSTODY AND AGENCY SERVICES

D. Agency Services

JPMorgan shall be entitled to receive transaction fees from Authorized Participants (APs) according to the following schedule.

JPMorgan is entitled to transaction fees even if the fee is not delivered or required to be delivered from the Authorized Participant. If the transaction fee is not delivered by the Authorized Participant than the fee will be paid to JPMorgan by the relevant fund.

For all “Ultra” funds where a cash Creation Unit transaction occurs; JPM will reimburse the funds for any transaction fee collected from APs above $500.

Transaction fee schedule charged to create or redeem Creation Units regardless of number of units redeemed or created for an order:

FUNDS		FEE				Fund Style
ProShares Ultra S&P500®		$	2,500				Ultra
ProShares Short S&P500®		$	500				Short
ProShares UltraShort S&P500®		$	500				Short
ProShares Ultra QQQ®		$	500				Ultra
ProShares Short QQQ®		$	500				Short
ProShares UltraShort QQQ®		$	500				Short
ProShares Ultra Dow30SM		$	500				Ultra
ProShares Short Dow30SM		$	500				Short
ProShares UltraShort Dow30SM		$	500				Short
ProShares Ultra MidCap400		$	2,000				Ultra
ProShares Short MidCap400		$	500				Short
ProShares UltraShort MidCap400		$	500				Short
ProShares Ultra Russell2000		$	3,500				Ultra
ProShares Short Russell2000		$	500				Short

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ProShares UltraShort Russell2000		$	500				Short
ProShares Ultra SmallCap600		$	3,000				Ultra
ProShares Short SmallCap600		$	500				Short
ProShares UltraShort SmallCap600		$	500				Short
ProShares Ultra Russell1000 Value		$	3,055				Ultra
ProShares Short Russell1000 Value		$	500				Short
ProShares UltraShort Russell1000 Value		$	500				Short
ProShares Ultra Russell1000 Growth		$	3,415				Ultra
ProShares Short Russell1000 Growth		$	500				Short
ProShares UltraShort Russell1000 Growth		$	500				Short
ProShares Ultra Xxxxxxx XxxXxx Value		$	2,405				Ultra
ProShares Xxxxx Xxxxxxx MidCap Value		$	500				Short
ProShares UltraShort Xxxxxxx XxxXxx Value		$	500				Short
ProShares Ultra Xxxxxxx MidCap Growth		$	2,695				Ultra
ProShares Xxxxx Xxxxxxx XxxXxx Growth		$	500				Short
ProShares UltraShort Xxxxxxx MidCap Growth		$	500				Short
ProShares Ultra Russell2000 Value		$	3,500				Ultra
ProShares Short Russell2000 Value		$	500				Short
ProShares UltraShort Russell2000 Value		$	500				Short
ProShares Ultra Russell2000 Growth		$	3,500				Ultra
ProShares Short Russell2000 Growth		$	500				Short
ProShares UltraShort Russell2000 Growth		$	500				Short
ProShares Ultra Basic Materials		$	500				Ultra
ProShares Short Basic Materials		$	500				Short

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ProShares UltraShort Basic Materials			$500				Short
ProShares Ultra Consumer Goods			$755				Ultra
ProShares Short Consumer Goods			$500				Short
ProShares UltraShort Consumer Goods			$500				Short
ProShares Ultra Consumer Services			$1,265				Ultra
ProShares Short Consumer Services			$500				Short
ProShares UltraShort Consumer Services			$500				Short
ProShares Ultra Financials			$625				Ultra
ProShares Short Financials			$250				Short
ProShares UltraShort Financials			$500				Short
ProShares Ultra Health Care			$800				Ultra
ProShares Short Health Care			$500				Short
ProShares UltraShort Health Care			$500				Short
ProShares Ultra Industrials			$1,355				Ultra
ProShares Short Industrials			$500				Short
ProShares UltraShort Industrials			$500				Short
ProShares Ultra Oil & Gas			$250				Ultra
ProShares Short Oil & Gas			$500				Short
ProShares UltraShort Oil & Gas			$250				Short
ProShares Ultra Real Estate			$250				Ultra
ProShares Short Real Estate			$500				Short
ProShares UltraShort Real Estate			$250				Short
ProShares Ultra Semiconductors			$250				Ultra
ProShares Short Semiconductors			$500				Short
ProShares UltraShort Semiconductors			$250				Short

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ProShares Ultra Technology			$500				Ultra
ProShares Short Technology			$500				Short
ProShares UltraShort Technology			$250				Short
ProShares Ultra Utilities			$500				Ultra
ProShares Short Utilities			$500				Short
ProShares UltraShort Utilities			$500				Ultra
ProShares Short MSCI Emerging Markets			$500				Short
ProShares Short MSCI EAFE			$500				Short
ProShares UltraShort MSCI Emerging Markets			$250				Short
ProShares UltraShort MSCI Japan			$500				Short
ProShares UltraShort MSCI EAFE			$250				Short
ProShares UltraShort FTSE China 25			$250				Short
ProShares UltraShort 7-10 Year Treasury			$500				Short
ProShares UltraShort 20+ Year Treasury			$500				Short
ProShares Ultra FTSE China 25			$250 *				Ultra
ProShares Ultra FTSE China 25			$875***				Ultra
ProShares Ultra MSCI Japan			$500*				Ultra
ProShares Ultra MSCI Japan			$5,000***				Ultra
ProShares Ultra Telecommunications			$500				Ultra
ProShares UltraShort Telecommunications			$500				Short
ProShares Ultra MSCI EAFE			$500*				Ultra

* For any creation unit purchases or redemptions made when the Fund is invested in financial instruments and cash only.

** For any creation unit purchases or redemptions made when the Fund is invested in American Depositary Receipts in addition to any financial instruments and cash.

*** For any creation unit purchases or redemptions made when the Fund is invested in local international equities or American Depositary Receipts in addition to any financial instruments and cash.

With respect to any change from * to ** or ***, the express written approval of the Bank is required.

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ProShares Ultra MSCI EAFE			$1,250***				Ultra
ProShares Ultra MSCI Emerging Markets			$500*				Ultra
ProShares Ultra MSCI Emerging Markets			$1,250***				Ultra
ProShares UltraShort MSCI Europe			$500				Short
ProShares UltraShort MSCI Pacific ex-Japan			$500				Short
ProShares UltraShort MSCI Brazil			$250				Short
ProShares UltraShort MSCI Mexico Investable Market			$250				Short
ProShares Ultra Russell3000			$3,500				Ultra
ProShares UltraShort Russell3000			$500				Short
ProShares Credit Suisse 130/30			$500				Alpha
ProShares UltraPro S&P500®			$1,250				Ultra
ProShares UltraPro Short S&P500®			$250				Short
ProShares Short 7-10 Year Treasury			$250				Short
ProShares Short 20+ Year Treasury			$250				Short
ProShares Ultra 7-10 Year Treasury			$250				Ultra
ProShares Ultra 20+ Year Treasury			$250				Ultra
ProShares UltraPro Dow30			$325				Ultra
ProShares UltraPro MidCap400			$1,250				Ultra
ProShares UltraPro Russell2000			$1750				Ultra
ProShares UltraPro QQQ			$500				Ultra
ProShares UltraPro Short Dow30			$250				Short
ProShares UltraPro Short MidCap400			$250				Short
ProShares UltraPro Short Russell2000			$250				Short

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ProShares UltraPro Short QQQ			$250				Short
ProShares Short Basic Materials			$500				Short
ProShares Short Real Estate			$500				Short
ProShares Short FTSE China 25			$500				Short
ProShares Ultra Nasdaq Biotechnology			$625				Ultra
ProShares UltraShort Nasdaq Biotechnology			$500				Short
ProShares Ultra KBW Regional Banking			$500				Ultra
ProShares Short KBW Regional Banking			$500				Short
ProShares Ultra MSCI Europe			$500**				Ultra
ProShares Ultra MSCI Pacific ex-Japan			$500**				Ultra
ProShares Ultra MSCI Brazil			$250**				Ultra
ProShares Ultra MSCI Mexico Investable Market			$250**				Ultra
ProShares RAFI Long/Short			$500				Alpha
ProShares Hedge Replication ETF			$500*				Alpha
ProShares Ultra TIPS			$250				Ultra
ProShares UltraShort TIPS			$250				Short
ProShares Short High Yield			$250				Short
ProShares Short Investment Grade Corporate			$250				Short
ProShares UltraShort 3-7 Year Treasury			$250				Short
ProShares Short 7-10 Year Treasury			$250				Short

* For any creation unit purchases or redemptions made when the Fund is invested in financial instruments and cash only.

** For any creation unit purchases or redemptions made when the Fund is invested in American Depositary Receipts in addition to any financial instruments and cash.

*** For any creation unit purchases or redemptions made when the Fund is invested in local international equities or American Depositary Receipts in addition to any financial instruments and cash.

With respect to any change from * to ** or ***, the express written approval of the Bank is required.

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ProShares Ultra High Yield			$250				Ultra
ProShares Ultra Investment Grade Corporate			$250				Ultra
ProShares German Sovereign / Sub-Sovereign ETF			$500				Specialty
ProShares UltraPro 10 Year TIPS/TSY Spread			$250				Specialty
ProShares UltraPro Short 10 Year TIPS/TSY Spread			$250				Specialty
ProShares 30 Year TIPS/TSY Spread			$250				Specialty
ProShares Short 30 Year TIPS/TSY Spread			$250				Specialty

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Additional Transaction Fees.

An additional charge of up to three (3) times the normal creation redemption fee (for a total charge of up to four (4) times the normal creation redemption fee) will be collected with respect to transactions effected by Authorized Participants outside the Clearing Process.

Fee Proposal Acknowledgement

The foregoing fee proposal covers custody, settlement and certain associated services to be performed by JPMorgan Chase Bank, N.A. (“X.X. Xxxxxx”) and/or certain subsidiaries and/or affiliates for ProShares. The signature below indicates that I, as a duly authorized representative of ProShares, have reviewed and accept this fee proposal, which will take effect upon the start of provision of the services described herein by X.X. Xxxxxx for ProShares. This fee proposal will be attached as a schedule to, and will be incorporated into, the custody or trust agreement(s) in effect between ProShares and X.X. Xxxxxx.

This fee schedule shall be in effect for three years from the effective date of 06/01/2011, subject to earlier termination in accordance with Section 9 of the Agreement.

Accepted by:

ProShares Trust				JPMorgan Chase Bank, N.A.
/s/ Xxxxx X. Xxxxxxx				/s/ Xxxxx X. Xxxxx
Signature				Signature
Xxxxx X. Xxxxxxx				Xxxxx X. Xxxxx
Name				Name
President				Executive Director
Title				Title
1/3/2012				1/3/2012
Date				Date

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