The MacroShares Major Metro Housing Up Trust’s (Ticker: UMM) underlying Value tracks three times the percentage change in U.S. single-family home prices, as measured by the S&P/Case-Shiller Composite-10 Home Price Index. UMM is a paired trust (paired with MacroShares Major Metro Housing Down Trust – DMM) that work as follows: When MacroShares Major Metro Housing Up are created, an equal number of MacroShares Major Metro Housing Down are also created. UMM funds are invested in the “Major Metro Housing Up Trust. DMM investor funds are invested in a separate “Major Metro Housing Down Trust. Both trusts enter into a settlement contract to pledge assets to one another over time, using a predetermined formula. The trusts feature a 3x leverage factor, such that the underlying value of each is intended to track three times the cumulative percentage change, upward or downward, in U.S. single family home prices, as measured by the S&P/Case-Shiller Composite-10 Home Price Index.