ProShares Trust II
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
View on SEC.govAbout 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$19.74+5.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
ProShares Trust II
COMBINED STATEMENTS OF FINANCIAL CONDITION
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| Assets | ||
| Short-term U.S. government and agency obligations (Note 3) (cost $473,690,268 and $690,346,244, respectively) | $473,819,625 | $690,474,277 |
| Cash | 1,765,501,542 | 1,209,034,101 |
| Segregated cash balances with brokers for futures contracts | 622,689,660 | 1,029,381,720 |
| Segregated cash balances with brokers for foreign currency forward contracts | 16,562,030 | 13,366,243 |
| Segregated cash balances with brokers for swap agreements | 172,690,806 | 345,924,043 |
| Unrealized appreciation on swap agreements | 41,311,209 | 21,033,528 |
| Unrealized appreciation on foreign currency forward contracts | 3,621,921 | 2,011,074 |
| Receivable from capital shares sold | 14,352,999 | 22,784,178 |
| Receivable on open futures contracts | 35,746,889 | 29,722,683 |
| Interest receivable | 5,627,491 | 6,486,760 |
| Total assets | 3,151,924,172 | 3,370,218,607 |
| Liabilities and shareholders’ equity | ||
| Liabilities | ||
| Payable for capital shares redeemed | 20,192,198 | 39,357,935 |
| Payable on open futures contracts | 44,527,123 | 38,056,063 |
| Brokerage commissions and futures account fees payable | 59,280 | 131,497 |
| Payable to Sponsor | 2,525,993 | 2,654,226 |
| Unrealized depreciation on swap agreements | 54,867,040 | 3,841,216 |
| Unrealized depreciation on foreign currency forward contracts | 4,618,937 | 3,345,544 |
| Total liabilities | 126,790,571 | 87,386,481 |
| Commitments and Contingencies (Note 2) | ||
| Shareholders’ equity | ||
| Shareholders’ equity | 3,025,133,601 | 3,282,832,126 |
| Total liabilities and shareholders’ equity | $3,151,924,172 | $3,370,218,607 |
| Shares outstanding (Note 1) (Note 2) | 89,221,884 | 82,617,848 |
COMBINED STATEMENTS OF OPERATIONS
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022* | |
| Investment Income | |||
| Interest | $142,663,792 | $136,369,286 | $44,947,305 |
| Expenses | |||
| Management fee | 30,596,625 | 35,112,338 | 43,228,350 |
| Brokerage commissions | 7,879,443 | 8,606,195 | 7,805,056 |
| Futures account fees | 738,895 | 1,467,200 | 3,926,728 |
| Non-recurring fees and expenses | — | — | 176,724 |
| Total expenses | 39,214,963 | 45,185,733 | 55,136,858 |
| Net investment income (loss) | 103,448,829 | 91,183,553 | (10,189,553) |
| Realized and unrealized gain (loss) on investment activity | |||
| Net realized gain (loss) on | |||
| Futures contracts | (318,107,709) | (2,752,823,603) | 91,781,637 |
| Swap agreements | 183,559,658 | 38,451,228 | 216,079,482 |
| Foreign currency forward contracts | 120,896 | (1,988,872) | 13,717,111 |
| Short-term U.S. government and agency obligations | 73,121 | (159,628) | (264,402) |
| Net realized gain (loss) | (134,354,034) | (2,716,520,875) | 321,313,828 |
| Change in net unrealized appreciation (depreciation) on | |||
| Futures contracts | 21,942,821 | 241,673,235 | (218,950,927) |
| Swap agreements | (30,748,143) | (100,372,363) | 7,797,463 |
| Foreign currency forward contracts | 337,454 | 2,754,014 | (4,739,563) |
| Short-term U.S. government and agency obligations | 1,324 | (128,584) | 550,165 |
| Change in net unrealized appreciation (depreciation) | (8,466,544) | 143,926,302 | (215,342,862) |
| Net realized and unrealized gain (loss) | (142,820,578) | (2,572,594,573) | 105,970,966 |
| Net income (loss) | $(39,371,749) | $(2,481,411,020) | $95,781,413 |
| * | The operations include the activity of ProShares Short Euro ETF and ProShares UltraShort Australian Dollar ETF through May 12, 2022, the date of liquidation. |
|---|
COMBINED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
| Years Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022* | |
| Shareholders’ equity, beginning of period | $3,282,832,126 | $3,887,786,746 | $4,173,474,343 |
| Addition of 229,782,500, 186,662,500 and 388,086,500 shares, respectively (Note 1) | 8,545,977,477 | 11,067,788,777 | 12,319,404,610 |
| Redemption of 223,178,464, 191,162,246 and 399,574,812 shares, respectively (Note 1) | (8,764,304,253) | (9,191,332,377) | (12,700,873,620) |
| Net addition (redemption) of 6,604,036, (4,499,746) and (11,488,312) shares, respectively (Note 1) | (218,326,776) | 1,876,456,400 | (381,469,010) |
| Net investment income (loss) | 103,448,829 | 91,183,553 | (10,189,553) |
| Net realized gain (loss) | (134,354,034) | (2,716,520,875) | 321,313,828 |
| Change in net unrealized appreciation (depreciation) | (8,466,544) | 143,926,302 | (215,342,862) |
| Net income (loss) | (39,371,749) | (2,481,411,020) | 95,781,413 |
| Shareholders’ equity, end of period | $3,025,133,601 | $3,282,832,126 | $3,887,786,746 |
| * | The operations include the activity of ProShares Short Euro ETF and ProShares UltraShort Australian Dollar ETF through May 12, 2022, the date of liquidation. |
|---|
COMBINED STATEMENTS OF CASH FLOWS
| Year ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022* | |
| Cash flow from operating activities | |||
| Net income (loss) | $(39,371,749) | $(2,481,411,020) | $95,781,413 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
| Purchases of short-term U.S. government and agency obligations | (6,811,024,357) | (29,326,977,643) | (55,926,795,459) |
| Proceeds from sales or maturities of short-term U.S government and agency obligations | 7,096,745,754 | 30,165,855,686 | 56,988,696,650 |
| Net amortization and accretion on short-term U.S government and agency obligations | (68,992,300) | (62,959,990) | (22,866,632) |
| Net realized (gain) loss on investments | (73,121) | 159,628 | 264,402 |
| Change in unrealized (appreciation) depreciation on investments | 30,409,365 | 97,746,933 | (3,608,065) |
| Decrease (Increase) in receivable on futures contracts | (6,024,206) | 45,696,024 | 75,509,837 |
| Decrease (Increase) in interest receivable | 859,269 | (1,565,988) | (4,897,829) |
| Increase (Decrease) in payable to Sponsor | (128,233) | (555,887) | 31,527 |
| Increase (Decrease) in brokerage commissions and futures account fees payable | (72,217) | (33,668) | (311,076) |
| Increase (Decrease) in payable on futures contracts | 6,471,060 | 24,279,697 | (41,100,321) |
| Net cash provided by (used in) operating activities | 208,799,265 | (1,539,766,228) | 1,160,704,447 |
| Cash flow from financing activities | |||
| Proceeds from addition of shares | 8,554,408,656 | 11,046,019,082 | 12,341,865,482 |
| Payment on shares redeemed | (8,783,469,990) | (9,184,699,519) | (12,693,743,445) |
| Net cash provided by (used in) financing activities | (229,061,334) | 1,861,319,563 | (351,877,963) |
| Net increase (decrease) in cash | (20,262,069) | 321,553,335 | 808,826,484 |
| Cash, beginning of period | 2,597,706,107 | 2,276,152,772 | 1,467,326,288 |
| Cash, end of period | $2,577,444,038 | $2,597,706,107 | $2,276,152,772 |
| * | The operations include the activity of ProShares Short Euro ETF and ProShares UltraShort Australian Dollar ETF through May 12, 2022, the date of liquidation. |
|---|
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.