ProShares Trust II
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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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.
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ProShares Ultra VIX Short-Term Futures ETF
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| Assets | ||
| Short-term U.S. government and agency obligations (Note 3) (cost $24,931,067 and $—, respectively) | $24,937,875 | $— |
| Cash | 88,749,502 | 86,615,956 |
| Segregated cash balances with brokers for futures contracts | 161,872,327 | 250,795,661 |
| Receivable on open futures contracts | 9,002,751 | 10,559,699 |
| Interest receivable | 803,191 | 924,148 |
| Total assets | 285,365,646 | 348,895,464 |
| Liabilities and shareholders’ equity | ||
| Liabilities | ||
| Payable on open futures contracts | 613,972 | — |
| Brokerage commissions and futures account fees payable | 24,616 | 36,088 |
| Payable to Sponsor | 274,998 | 303,633 |
| Total liabilities | 913,586 | 339,721 |
| Commitments and Contingencies (Note 2) | ||
| Shareholders’ equity | ||
| Shareholders’ equity | 284,452,060 | 348,555,743 |
| Total liabilities and shareholders’ equity | $285,365,646 | $348,895,464 |
| Shares outstanding (Note 1) | 13,693,643 | 8,264,892 |
| Net asset value per share (Note 1) | $20.77 | $42.17 |
| Market value per share (Note 1) (Note 2) | $20.72 | $42.20 |
| Principal Amount | Value | |
|---|---|---|
| Short-term U.S. government and agency obligations | ||
| (9% of shareholders’ equity) | ||
| U.S. Treasury Bills^^: | ||
| 4.562% due 01/23/25 | $25,000,000 | $24,937,875 |
| Total short-term U.S. government and agency obligations (cost $24,931,067) | $24,937,875 | |
| Number of Contracts | Notional Amount at Value | Unrealized Appreciation (Depreciation)/Value | |
|---|---|---|---|
| VIX Futures - Cboe, expires January 2025 | 14,280 | $250,152,756 | $15,626,836 |
| VIX Futures - Cboe, expires February 2025 | 9,884 | 176,634,987 | (1,650,844) |
| $13,975,992 | |||
| ^^ | Rates shown represent discount rate at the time of purchase. |
|---|
| Number of Contracts | Notional Amount at Value | Unrealized Appreciation (Depreciation)/Value | |
|---|---|---|---|
| VIX Futures - Cboe, expires January 2024 | 21,109 | $296,606,781 | $(21,045,144) |
| VIX Futures - Cboe, expires February 2024 | 14,767 | 225,867,172 | (10,138,767) |
| $(31,183,911) | |||
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Investment Income | |||
| Interest | $10,412,156 | $15,951,926 | $8,744,418 |
| Expenses | |||
| Management fee | 2,534,346 | 4,392,607 | 8,937,342 |
| Brokerage commissions | 2,159,377 | 2,596,882 | 3,993,956 |
| Futures account fees | 279,647 | 476,293 | 1,749,320 |
| Non-recurring fees and expenses | — | — | 37,189 |
| Total expenses | 4,973,370 | 7,465,782 | 14,717,807 |
| Net investment income (loss) | 5,438,786 | 8,486,144 | (5,973,389) |
| Realized and unrealized gain (loss) on investment activity | |||
| Net realized gain (loss) on | |||
| Futures contracts | (136,430,513) | (940,116,773) | (173,487,606) |
| Swap agreements | — | — | 22,556,586 |
| Short-term U.S. government and agency obligations | 14,511 | 13,721 | (368,413) |
| Net realized gain (loss) | (136,416,002) | (940,103,052) | (151,299,433) |
| Change in net unrealized appreciation (depreciation) on | |||
| Futures contracts | 45,159,903 | 5,371,542 | 89,801,304 |
| Swap agreements | — | — | 477,437 |
| Short-term U.S. government and agency obligations | 6,808 | (3,383) | 68,399 |
| Change in net unrealized appreciation (depreciation) | 45,166,711 | 5,368,159 | 90,347,140 |
| Net realized and unrealized gain (loss) | (91,249,291) | (934,734,893) | (60,952,293) |
| Net income (loss) | $(85,810,505) | $(926,248,749) | $(66,925,682) |
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Shareholders’ equity, beginning of period | $348,555,743 | $639,318,362 | $816,679,636 |
| Addition of 54,000,000, 12,562,000 and 5,483,000 shares, respectively (Note 1) | 1,359,968,222 | 1,481,923,040 | 3,377,960,087 |
| Redemption of 48,571,249, 6,158,677 and 4,938,000 shares, respectively (Note 1) | (1,338,261,400) | (846,436,910) | (3,488,395,679) |
| Net addition (redemption) of 5,428,751, 6,403,323 and 545,000 shares, respectively (Note 1) | 21,706,822 | 635,486,130 | (110,435,592) |
| Net investment income (loss) | 5,438,786 | 8,486,144 | (5,973,389) |
| Net realized gain (loss) | (136,416,002) | (940,103,052) | (151,299,433) |
| Change in net unrealized appreciation (depreciation) | 45,166,711 | 5,368,159 | 90,347,140 |
| Net income (loss) | (85,810,505) | (926,248,749) | (66,925,682) |
| Shareholders’ equity, end of period | $284,452,060 | $348,555,743 | $639,318,362 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flow from operating activities | |||
| Net income (loss) | $(85,810,505) | $(926,248,749) | $(66,925,682) |
| 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 | (358,565,760) | (1,592,777,850) | (6,484,457,979) |
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 336,137,249 | 1,630,711,623 | 6,673,261,241 |
| Net amortization and accretion on short-term U.S. government and agency obligations | (2,488,045) | (3,191,063) | (2,175,055) |
| Net realized (gain) loss on investments | (14,511) | (13,721) | 368,413 |
| Change in unrealized (appreciation) depreciation on investments | (6,808) | 3,383 | (545,836) |
| Decrease (Increase) in receivable on open futures contracts | 1,556,948 | 11,099,936 | 11,938,053 |
| Decrease (Increase) in interest receivable | 120,957 | 322,254 | (1,241,342) |
| Increase (Decrease) in payable to Sponsor | (28,635) | (266,796) | (41,407) |
| Increase (Decrease) in brokerage commissions and futures account fees payable | (11,472) | (22,684) | (109,083) |
| Increase (Decrease) in payable on open futures contracts | 613,972 | (904,685) | (8,542,771) |
| Net cash provided by (used in) operating activities | (108,496,610) | (881,288,352) | 121,528,552 |
| Cash flow from financing activities | |||
| Proceeds from addition of shares | 1,359,968,222 | 1,481,923,040 | 3,377,960,087 |
| Payment on shares redeemed | (1,338,261,400) | (846,436,910) | (3,488,395,679) |
| Net cash provided by (used in) financing activities | 21,706,822 | 635,486,130 | (110,435,592) |
| Net increase (decrease) in cash | (86,789,788) | (245,802,222) | 11,092,960 |
| Cash, beginning of period | 337,411,617 | 583,213,839 | 572,120,879 |
| Cash, end of period | $250,621,829 | $337,411,617 | $583,213,839 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.