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.

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Contents

ProShares Ultra Yen

	December 31, 2024	December 31, 2023
Assets
Cash	$39,802,626	$27,001,312
Segregated cash balances with brokers for foreign currency forward contracts	8,805,479	2,976,399
Unrealized appreciation on foreign currency forward contracts	146,194	1,534,924
Interest receivable	149,992	104,541
Total assets	48,904,291	31,617,176
Liabilities and shareholders’ equity
Liabilities
Payable for capital shares redeemed	—	1,373,167
Payable to Sponsor	37,154	22,600
Unrealized depreciation on foreign currency forward contracts	4,361,491	15,639
Total liabilities	4,398,645	1,411,406
Commitments and Contingencies (Note 2)
Shareholders’ equity
Shareholders’ equity	44,505,646	30,205,770
Total liabilities and shareholders’ equity	$48,904,291	$31,617,176
Shares outstanding	2,199,970	1,099,970
Net asset value per share	$20.23	$27.46
Market value per share (Note 2)	$20.35	$27.49

	Settlement Date	Contract Amount in Local Currency	Contract Amount in U.S. Dollars	Unrealized Appreciation (Depreciation)/ Value
Contracts to Purchase
Yen with Goldman Sachs International	01/10/25	7,308,549,056	$46,506,241	$(2,180,271)
Yen with UBS AG	01/10/25	7,519,501,856	47,848,591	(2,181,220)
			Total Unrealized Depreciation	$(4,361,491)
Contracts to Sell
Yen with Goldman Sachs International	01/10/25	(66,274,000)	$(421,719)	$16,187
Yen with UBS AG	01/10/25	(730,519,000)	(4,648,486)	130,007
			Total Unrealized Appreciation	$146,194

^	The positions and counterparties herein are as of December 31, 2024. The Fund continually evaluates different counterparties for their transactions and counterparties are subject to change. New counterparties can be added at any time.

	Settlement Date	Contract Amount in Local Currency	Contract Amount in U.S. Dollars	Unrealized Appreciation (Depreciation)/ Value
Contracts to Purchase
Yen with Goldman Sachs International	01/19/24	4,094,365,056	$29,127,726	$647,731
Yen with UBS AG	01/19/24	4,865,329,856	34,612,448	887,193
			Total Unrealized Appreciation	$1,534,924
Contracts to Sell
Yen with Goldman Sachs International	01/19/24	(17,917,000)	$(127,463)	$(870)
Yen with UBS AG	01/19/24	(446,432,000)	(3,175,962)	(14,769)
			Total Unrealized Depreciation	$(15,639)

^	The positions and counterparties herein are as of December 31, 2023. The Fund continually evaluates different counterparties for their transactions and counterparties are subject to change. New counterparties can be added at any time.

	Year Ended December 31,
	2024	2023	2022
Investment Income
Interest	$1,853,973	$667,026	$120,631
Expenses
Management fee	405,325	145,536	65,070
Non-recurring fees and expenses	—	—	508
Total expenses	405,325	145,536	65,578
Net investment income (loss)	1,448,648	521,490	55,053
Realized and unrealized gain (loss) on investment activity
Net realized gain (loss) on
Foreign currency forward contracts	(6,562,004)	(2,637,502)	(1,141,826)
Short-term U.S. government and agency obligations	—	—	1,548
Net realized gain (loss)	(6,562,004)	(2,637,502)	(1,140,278)
Change in net unrealized appreciation (depreciation) on
Foreign currency forward contracts	(5,734,582)	534,736	1,077,661
Change in net unrealized appreciation (depreciation)	(5,734,582)	534,736	1,077,661
Net realized and unrealized gain (loss)	(12,296,586)	(2,102,766)	(62,617)
Net income (loss)	$(10,847,938)	$(1,581,276)	$(7,564)

	Year Ended December 31,
	2024	2023	2022
Shareholders’ equity, beginning of period	$30,205,770	$13,814,796	$2,362,849
Addition of 2,050,000, 1,000,000 and 500,000 shares, respectively	48,124,281	27,033,889	15,919,421
Redemption of 950,000, 300,000 and 150,000 shares, respectively	(22,976,467)	(9,061,639)	(4,459,910)
Net addition (redemption) of 1,100,000, 700,000 and 350,000 shares, respectively	25,147,814	17,972,250	11,459,511
Net investment income (loss)	1,448,648	521,490	55,053
Net realized gain (loss)	(6,562,004)	(2,637,502)	(1,140,278)
Change in net unrealized appreciation (depreciation)	(5,734,582)	534,736	1,077,661
Net income (loss)	(10,847,938)	(1,581,276)	(7,564)
Shareholders’ equity, end of period	$44,505,646	$30,205,770	$13,814,796

See accompanying notes to

fin

ancial statements.

	Year Ended December 31,
	2024	2023	2022
Cash flow from operating activities
Net income (loss)	$(10,847,938)	$(1,581,276)	$(7,564)
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	—	—	(995,769)
Proceeds from sales or maturities of short-term U.S. government and agency obligations	—	—	1,001,548
Net amortization and accretion on short-term U.S. government and agency obligations	—	—	(4,231)
Net realized (gain) loss on investments	—	—	(1,548)
Change in unrealized (appreciation) depreciation on investments	5,734,582	(534,736)	(1,077,661)
Decrease (Increase) in interest receivable	(45,451)	(65,337)	(39,109)
Increase (Decrease) in payable to Sponsor	14,554	11,685	8,961
Net cash provided by (used in) operating activities	(5,144,253)	(2,169,664)	(1,115,373)
Cash flow from financing activities
Proceeds from addition of shares	48,124,281	27,033,889	15,919,421
Payment on shares redeemed	(24,349,634)	(7,688,472)	(4,459,910)
Net cash provided by (used in) financing activities	23,774,647	19,345,417	11,459,511
Net increase (decrease) in cash	18,630,394	17,175,753	10,344,138
Cash, beginning of period	29,977,711	12,801,958	2,457,820
Cash, end of period	$48,608,105	$29,977,711	$12,801,958

ContentsView on SEC.gov

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