ProShares Trust II

For the period ended Dec 31, 2024. Filed Feb 28, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 28, 2025

SCO$20.19+2.3%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Item 8. Financial Statements and Supplementary Data

Statement of Operations for the three month periods ended March 31, 2024 and 2023, June 30, 2024 and 2023, September 30, 2024 and 2023, and December 31, 2024 and 2023 and the years ended December 31, 2024 and 2023 for each Fund, as applicable.

PROSHARES SHORT VIX SHORT-TERM FUTURES ETF*

Three Months Ended (unaudited) · Year EndedDecember 31, 2024
March 31, 2024 · June 30, 2024 · September 30, 2024 · December 31, 2024
Net investment income (loss)	$2,397,290	$2,584,261	$4,269,606	$2,349,088	$11,600,245
Net realized and unrealized gain (loss)	$23,859,796	$22,594,697	$(11,689,567)	$(8,371,389)	$26,393,537
Net income (loss)	$26,257,086	$25,178,958	$(7,419,961)	$(6,022,301)	$37,993,782
Net increase (decrease) in net asset value per share	$4.69	$4.97	$(11.19)	$(0.13)	$(1.66)

Three Months Ended (unaudited) · Year EndedDecember 31, 2023
March 31, 2023 · June 30, 2023 · September 30, 2023 · December 31, 2023
Net investment income (loss)	$1,416,842	$1,696,752	$1,851,366	$2,242,087	$7,207,047
Net realized and unrealized gain (loss)	$32,759,325	$74,875,432	$3,968,176	$50,434,582	$162,037,515
Net income (loss)	$34,176,167	$76,572,184	$5,819,542	$52,676,669	$169,244,562
Net increase (decrease) in net asset value per share	$2.51	$10.48	$0.78	$8.57	$22.34

Three Months Ended (unaudited) · Year EndedDecember 31, 2024
March 31, 2024 · June 30, 2024 · September 30, 2024 · December 31, 2024
Net investment income (loss)	$3,471,629	$5,118,436	$4,742,745	$5,200,539	$18,533,349
Net realized and unrealized gain (loss)	$148,214,947	$6,218,791	$(125,867,824)	$53,373,587	$81,939,501
Net income (loss)	$151,686,576	$11,337,227	$(121,125,079)	$58,574,126	$100,472,850
Net increase (decrease) in net asset value per share	$6.91	$0.32	$(8.15)	$2.13	$1.21

Three Months Ended (unaudited) · Year EndedDecember 31, 2023
March 31, 2023 · June 30, 2023 · September 30, 2023 · December 31, 2023
Net investment income (loss)	$4,038,946	$4,038,791	$3,659,529	$3,723,236	$15,460,502
Net realized and unrealized gain (loss)	$(52,430,015)	$(30,875,638)	$272,727,215	$(174,633,840)	$14,787,722
Net income (loss)	$(48,391,069)	$(26,836,847)	$276,386,744	$(170,910,604)	$30,248,224
Net increase (decrease) in net asset value per share	$(3.73)	$(2.79)	$11.50	$(8.96)	$(3.98)

PROSHARES ULTRA BLOOMBERG NATURAL GAS*

Three Months Ended (unaudited) · Year EndedDecember 31, 2024
March 31, 2024 · June 30, 2024 · September 30, 2024 · December 31, 2024
Net investment income (loss)	$4,210,636	$4,256,254	$4,917,857	$3,759,559	$17,144,306
Net realized and unrealized gain (loss)	$(378,573,869)	$151,508,790	$(111,870,739)	$(5,708,999)	$(344,644,817)
Net income (loss)	$(374,363,233)	$155,765,044	$(106,952,882)	$(1,949,440)	$(327,500,511)
Net increase (decrease) in net asset value per share	$(77.06)	$12.30	$(19.27)	$(3.86)	$(87.89)

Three Months Ended (unaudited) · Year EndedDecember 31, 2023
March 31, 2023 · June 30, 2023 · September 30, 2023 · December 31, 2023
Net investment income (loss)	$5,489,641	$4,920,978	$6,034,053	$5,134,182	$21,578,854
Net realized and unrealized gain (loss)	$(1,114,644,554)	$41,170,109	$(173,392,209)	$(479,605,370)	$(1,726,472,024)
Net income (loss)	$(1,109,154,913)	$46,091,087	$(167,358,156)	$(474,471,188)	$(1,704,893,170)
Net increase (decrease) in net asset value per share	$(1,446.59)	$(21.41)	$(77.43)	$(127.25)	$(1,672.68)

Three Months Ended (unaudited) · Year EndedDecember 31, 2024
March 31, 2024 · June 30, 2024 · September 30, 2024 · December 31, 2024
Net investment income (loss)	$62,551	$56,873	$48,936	$45,628	$213,988
Net realized and unrealized gain (loss)	$(364,940)	$(157,183)	$369,686	$(898,401)	$(1,050,838)
Net income (loss)	$(302,389)	$(100,310)	$418,622	$(852,773)	$(836,850)
Net increase (decrease) in net asset value per share	$(0.52)	$(0.15)	$0.90	$(1.63)	$(1.40)

Three Months Ended (unaudited) · Year EndedDecember 31, 2023
March 31, 2023 · June 30, 2023 · September 30, 2023 · December 31, 2023
Net investment income (loss)	$72,991	$68,331	$63,747	$61,745	$266,814
Net realized and unrealized gain (loss)	$183,334	$(732)	$(484,785)	$486,969	$184,786
Net income (loss)	$256,325	$67,599	$(421,038)	$548,714	$451,600
Net increase (decrease) in net asset value per share	$0.22	$0.10	$(0.72)	$0.99	$0.59

Three Months Ended (unaudited) · Year EndedDecember 31, 2024
March 31, 2024 · June 30, 2024 · September 30, 2024 · December 31, 2024
Net investment income (loss)	$1,567,439	$2,264,848	$2,677,335	$2,799,601	$9,309,223
Net realized and unrealized gain (loss)	$21,195,474	$14,341,132	$54,000,215	$(14,132,688)	$75,404,133
Net income (loss)	$22,762,913	$16,605,980	$56,677,550	$(11,333,087)	$84,713,356
Net increase (decrease) in net asset value per share	$8.16	$5.32	$19.10	$(2.96)	$29.62

Three Months Ended (unaudited) · Year EndedDecember 31, 2023
March 31, 2023 · June 30, 2023 · September 30, 2023 · December 31, 2023
Net investment income (loss)	$1,213,285	$1,502,010	$1,415,082	$1,393,196	$5,523,573
Net realized and unrealized gain (loss)	$21,488,275	$(15,686,735)	$(17,416,551)	$30,440,370	$18,825,359
Net income (loss)	$22,701,560	$(14,184,725)	$(16,001,469)	$31,833,566	$24,348,932
Net increase (decrease) in net asset value per share	$7.77	$(4.50)	$(5.61)	$11.08	$8.74

Three Months Ended (unaudited) · Year EndedDecember 31, 2024
March 31, 2024 · June 30, 2024 · September 30, 2024 · December 31, 2024
Net investment income (loss)	$2,732,914	$4,944,726	$6,019,174	$5,926,071	$19,622,885
Net realized and unrealized gain (loss)	$17,142,684	$133,401,184	$53,434,770	$(118,329,411)	$85,649,227
Net income (loss)	$19,875,598	$138,345,910	$59,453,944	$(112,403,340)	$105,272,112
Net increase (decrease) in net asset value per share	$1.24	$8.91	$3.10	$(6.98)	$6.27

Three Months Ended (unaudited) · Year EndedDecember 31, 2023
March 31, 2023 · June 30, 2023 · September 30, 2023 · December 31, 2023
Net investment income (loss)	$2,476,275	$2,677,602	$2,424,022	$2,552,347	$10,130,246
Net realized and unrealized gain (loss)	$(6,391,744)	$(54,401,899)	$(30,033,136)	$38,905,327	$(51,921,452)
Net income (loss)	$(3,915,469)	$(51,724,297)	$(27,609,114)	$41,457,674	$(41,791,206)
Net increase (decrease) in net asset value per share	$(0.65)	$(4.06)	$(2.28)	$2.53	$(4.46)

PROSHARES ULTRA VIX SHORT-TERM FUTURES ETF*

Three Months Ended (unaudited) · Year EndedDecember 31, 2024
March 31, 2024 · June 30, 2024 · September 30, 2024 · December 31, 2024
Net investment income (loss)	$1,517,995	$1,263,439	$1,321,242	$1,336,110	$5,438,786
Net realized and unrealized gain (loss)	$(77,712,023)	$(45,714,246)	$(22,041,465)	$54,218,443	$(91,249,291)
Net income (loss)	$(76,194,028)	$(44,450,807)	$(20,720,223)	$55,554,553	$(85,810,505)
Net increase (decrease) in net asset value per share	$(10.71)	$(7.88)	$1.36	$(4.17)	$(21.40)

Three Months Ended (unaudited) · Year EndedDecember 31, 2023
March 31, 2023 · June 30, 2023 · September 30, 2023 · December 31, 2023
Net investment income (loss)	$2,141,823	$2,581,004	$1,830,246	$1,933,071	$8,486,144
Net realized and unrealized gain (loss)	$(180,203,681)	$(471,615,533)	$(33,733,037)	$(249,182,642)	$(934,734,893)
Net income (loss)	$(178,061,858)	$(469,034,529)	$(31,902,791)	$(247,249,571)	$(926,248,749)
Net increase (decrease) in net asset value per share	$(112.16)	$(138.85)	$(11.43)	$(38.82)	$(301.26)

Three Months Ended (unaudited) · Year EndedDecember 31, 2024
March 31, 2024 · June 30, 2024 · September 30, 2024 · December 31, 2024
Net investment income (loss)	$293,018	$384,185	$422,494	$348,951	$1,448,648
Net realized and unrealized gain (loss)	$(5,610,506)	$(6,208,035)	$9,452,623	$(9,930,668)	$(12,296,586)
Net income (loss)	$(5,317,488)	$(5,823,850)	$9,875,117	$(9,581,717)	$(10,847,938)
Net increase (decrease) in net asset value per share	$(4.13)	$(3.10)	$4.53	$(4.53)	$(7.23)

Three Months Ended (unaudited) · Year EndedDecember 31, 2023
March 31, 2023 · June 30, 2023 · September 30, 2023 · December 31, 2023
Net investment income (loss)	$89,558	$89,650	$138,386	$203,896	$521,490
Net realized and unrealized gain (loss)	$(792,875)	$(2,118,251)	$(1,577,564)	$2,385,924	$(2,102,766)
Net income (loss)	$(703,317)	$(2,028,601)	$(1,439,178)	$2,589,820	$(1,581,276)
Net increase (decrease) in net asset value per share	$(1.49)	$(5.65)	$(2.39)	$2.45	$(7.08)

Three Months Ended (unaudited) · Year EndedDecember 31, 2024
March 31, 2024 · June 30, 2024 · September 30, 2024 · December 31, 2024
Net investment income (loss)	$1,737,221	$1,805,686	$1,451,008	$865,870	$5,859,785
Net realized and unrealized gain (loss)	$(46,957,955)	$(1,695,519)	$40,796,054	$(11,807,683)	$(19,665,103)
Net income (loss)	$(45,220,734)	$110,167	$42,247,062	$(10,941,813)	$(13,805,318)
Net increase (decrease) in net asset value per share	$(4.83)	$(0.35)	$3.95	$(2.59)	$(3.82)

Three Months Ended (unaudited) · Year EndedDecember 31, 2023
March 31, 2023 · June 30, 2023 · September 30, 2023 · December 31, 2023
Net investment income (loss)	$1,452,572	$1,140,772	$2,006,197	$1,867,545	$6,467,086
Net realized and unrealized gain (loss)	$38,570,997	$19,817,916	$(85,783,119)	$51,943,637	$24,549,431
Net income (loss)	$40,023,569	$20,958,688	$(83,776,922)	$53,811,182	$31,016,517
Net increase (decrease) in net asset value per share	$1.22	$0.47	$(8.76)	$3.89	$(3.18)

PROSHARES ULTRASHORT BLOOMBERG NATURAL GAS*

Three Months Ended (unaudited) · Year EndedDecember 31, 2024
March 31, 2024 · June 30, 2024 · September 30, 2024 · December 31, 2024
Net investment income (loss)	$807,347	$951,460	$762,495	$723,340	$3,244,642
Net realized and unrealized gain (loss)	$68,479,102	$(24,012,733)	$34,239,705	$(4,796,673)	$73,909,401
Net income (loss)	$69,286,449	$(23,061,273)	$35,002,200	$(4,073,333)	$77,154,043
Net increase (decrease) in net asset value per share	$28.42	$(27.10)	$5.15	$(10.91)	$(4.44)

Three Months Ended (unaudited) · Year EndedDecember 31, 2023
March 31, 2023 · June 30, 2023 · September 30, 2023 · December 31, 2023
Net investment income (loss)	$650,640	$782,210	$1,013,760	$946,312	$3,392,922
Net realized and unrealized gain (loss)	$138,446,168	$(12,512,257)	$33,288,197	$58,117,768	$217,339,876
Net income (loss)	$139,096,808	$(11,730,047)	$34,301,957	$59,064,080	$220,732,798
Net increase (decrease) in net asset value per share	$22.06	$(8.03)	$3.20	$17.32	$34.55

Three Months Ended (unaudited) · Year EndedDecember 31, 2024
March 31, 2024 · June 30, 2024 · September 30, 2024 · December 31, 2024
Net investment income (loss)	$363,067	$338,894	$315,526	$272,961	$1,290,448
Net realized and unrealized gain (loss)	$2,028,513	$701,755	$(2,565,439)	$5,355,606	$5,520,435
Net income (loss)	$2,391,580	$1,040,649	$(2,249,913)	$5,628,567	$6,810,883
Net increase (decrease) in net asset value per share	$1.81	$0.89	$(1.94)	$4.99	$5.75

Three Months Ended (unaudited) · Year EndedDecember 31, 2023
March 31, 2023 · June 30, 2023 · September 30, 2023 · December 31, 2023
Net investment income (loss)	$485,552	$462,645	$412,212	$386,045	$1,746,454
Net realized and unrealized gain (loss)	$(1,266,100)	$(489,473)	$3,084,236	$(3,345,725)	$(2,017,062)
Net income (loss)	$(780,548)	$(26,828)	$3,496,448	$(2,959,680)	$(270,608)
Net increase (decrease) in net asset value per share	$(0.42)	$0.06	$2.33	$(2.27)	$(0.30)

Three Months Ended (unaudited) · Year EndedDecember 31, 2024
March 31, 2024 · June 30, 2024 · September 30, 2024 · December 31, 2024
Net investment income (loss)	$109,867	$136,135	$113,799	$147,781	$507,582
Net realized and unrealized gain (loss)	$(1,742,392)	$(1,252,038)	$(3,172,512)	$527,247	$(5,639,695)
Net income (loss)	$(1,632,525)	$(1,115,903)	$(3,058,713)	$675,028	$(5,132,113)
Net increase (decrease) in net asset value per share	$(2.94)	$(1.85)	$(4.35)	$0.31	$(8.83)

Three Months Ended (unaudited) · Year EndedDecember 31, 2023
March 31, 2023 · June 30, 2023 · September 30, 2023 · December 31, 2023
Net investment income (loss)	$94,828	$139,578	$108,638	$93,511	$436,555
Net realized and unrealized gain (loss)	$(1,686,583)	$1,205,770	$1,184,818	$(2,536,900)	$(1,832,895)
Net income (loss)	$(1,591,755)	$1,345,348	$1,293,456	$(2,443,389)	$(1,396,340)
Net increase (decrease) in net asset value per share	$(4.22)	$2.02	$3.24	$(5.75)	$(4.71)

PROSHARES ULTRASHORT SILVER*

Three Months Ended (unaudited) · Year EndedDecember 31, 2024
March 31, 2024 · June 30, 2024 · September 30, 2024 · December 31, 2024
Net investment income (loss)	$284,271	$444,517	$507,144	$118,447	$1,354,379
Net realized and unrealized gain (loss)	$4,361,418	$(11,167,314)	$(3,527,024)	$4,637,647	$(5,695,273)
Net income (loss)	$4,645,689	$(10,722,797)	$(3,019,880)	$4,756,094	$(4,340,894)
Net increase (decrease) in net asset value per share	$(5.27)	$(22.41)	$(6.87)	$4.39	$(30.16)

Three Months Ended (unaudited) · Year EndedDecember 31, 2023
March 31, 2023 · June 30, 2023 · September 30, 2023 · December 31, 2023
Net investment income (loss)	$134,207	$232,359	$245,155	$179,238	$790,959
Net realized and unrealized gain (loss)	$1,530,387	$6,762,984	$6,983,201	$1,699,006	$16,975,578
Net income (loss)	$1,664,594	$6,995,343	$7,228,356	$1,878,244	$17,766,537
Net increase (decrease) in net asset value per share	$(3.28)	$7.43	$3.80	$(13.21)	$(5.26)

PROSHARES ULTRASHORT YEN*

Three Months Ended (unaudited) · Year EndedDecember 31, 2024
March 31, 2024 · June 30, 2024 · September 30, 2024 · December 31, 2024
Net investment income (loss)	$249,284	$359,294	$356,054	$204,134	$1,168,766
Net realized and unrealized gain (loss)	$4,646,964	$5,947,436	$(8,379,969)	$6,079,090	$8,293,521
Net income (loss)	$4,896,248	$6,306,730	$(8,023,915)	$6,283,224	$9,462,287
Net increase (decrease) in net asset value per share	$6.53	$6.66	$(8.72)	$8.75	$13.22

Three Months Ended (unaudited) · Year EndedDecember 31, 2023
March 31, 2023 · June 30, 2023 · September 30, 2023 · December 31, 2023
Net investment income (loss)	$153,388	$197,175	$215,363	$253,043	$818,969
Net realized and unrealized gain (loss)	$831,525	$4,515,794	$2,019,962	$(2,674,660)	$4,692,621
Net income (loss)	$984,913	$4,712,969	$2,235,325	$(2,421,617)	$5,511,590
Net increase (decrease) in net asset value per share	$1.15	$5.98	$3.57	$(3.10)	$7.60

PROSHARES VIXMID-TERM FUTURES ETF

Three Months Ended (unaudited) · Year EndedDecember 31, 2024
March 31, 2024 · June 30, 2024 · September 30, 2024 · December 31, 2024
Net investment income (loss)	$392,110	$838,943	$290,687	$273,392	$1,795,132
Net realized and unrealized gain (loss)	$(3,315,400)	$(7,854,039)	$3,168,967	$(1,924,467)	$(9,924,939)
Net income (loss)	$(2,923,290)	$(7,015,096)	$3,459,654	$(1,651,075)	$(8,129,807)
Net increase (decrease) in net asset value per share	$(0.89)	$(1.56)	$0.78	$(0.56)	$(2.23)

Three Months Ended (unaudited) · Year EndedDecember 31, 2023
March 31, 2023 · June 30, 2023 · September 30, 2023 · December 31, 2023
Net investment income (loss)	$477,188	$492,463	$461,209	$401,747	$1,832,607
Net realized and unrealized gain (loss)	$(11,238,260)	$(16,618,435)	$(3,309,969)	$(6,502,972)	$(37,669,636)
Net income (loss)	$(10,761,072)	$(16,125,972)	$(2,848,760)	$(6,101,225)	$(35,837,029)
Net increase (decrease) in net asset value per share	$(3.62)	$(6.30)	$(1.07)	$(2.68)	$(13.67)

PROSHARES VIX SHORT-TERM FUTURES ETF*

Three Months Ended (unaudited) · Year EndedDecember 31, 2024
March 31, 2024 · June 30, 2024 · September 30, 2024 · December 31, 2024
Net investment income (loss)	$1,348,356	$1,239,189	$1,120,410	$1,208,710	$4,916,665
Net realized and unrealized gain (loss)	$(28,784,954)	$(23,490,145)	$52,645,089	$(10,133,781)	$(9,763,791)
Net income (loss)	$(27,436,598)	$(22,250,956)	$53,765,499	$(8,925,071)	$(4,847,126)
Net increase (decrease) in net asset value per share	$(10.27)	$(8.39)	$5.62	$(3.90)	$(16.94)

Three Months Ended (unaudited) · Year EndedDecember 31, 2023
March 31, 2023 · June 30, 2023 · September 30, 2023 · December 31, 2023
Net investment income (loss)	$1,455,917	$1,765,342	$1,721,249	$1,580,823	$6,523,331
Net realized and unrealized gain (loss)	$(44,966,668)	$(148,543,165)	$(13,108,851)	$(68,618,049)	$(275,236,733)
Net income (loss)	$(43,510,751)	$(146,777,823)	$(11,387,602)	$(67,037,226)	$(268,713,402)
Net increase (decrease) in net asset value per share	$(47.38)	$(80.82)	$(6.55)	$(31.27)	$(166.02)

See the Index to Financial Statements on Page 103 for a list of the financial statements being filed as part of this Annual Report on Form 10-K. Those Financial Statements, and the notes and schedules related thereto, are incorporated by reference into this Item 8.

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