ProShares expects that none of its 117 equity and fixed income ETFs will pay any 2012 capital gain distributions.

“Tax efficiency is an important benefit we can offer investors who are turning to ETFs for alternative strategies,” says Michael L Sapir, chairman and chief executive of ProShare Advisors, ProShares' investment adviser.

“We are proud that for the third year in a row we expect that none of our shareholders will receive a capital gain distribution from ProShares.”