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 UltraShort Euro

	December 31, 2024	December 31, 2023
Assets
Cash	$36,236,198	$34,758,230
Segregated cash balances with brokers for foreign currency forward contracts	4,402,112	6,332,112
Unrealized appreciation on foreign currency forward contracts	1,189,827	38,029
Interest receivable	129,971	159,359
Total assets	41,958,108	41,287,730
Liabilities and shareholders’ equity
Liabilities
Payable to Sponsor	32,657	33,372
Unrealized depreciation on foreign currency forward contracts	32,777	1,886,808
Total liabilities	65,434	1,920,180
Commitments and Contingencies (Note 2)
Shareholders’ equity
Shareholders’ equity	41,892,674	39,367,550
Total liabilities and shareholders’ equity	$41,958,108	$41,287,730
Shares outstanding	1,200,000	1,350,000
Net asset value per share	$34.91	$29.16
Market value per share (Note 2)	$34.92	$29.15

	Settlement Date	Contract Amount in Local Currency	Contract Amount in U.S. Dollars	Unrealized Appreciation (Depreciation)/ Value
Contracts to Purchase
Euro with UBS AG	01/10/25	3,395,000	$3,518,153	$(32,777)
			Total Unrealized Depreciation	$(32,777)
Contracts to Sell
Euro with Goldman Sachs International	01/10/25	(38,554,263)	$(39,952,817)	$584,165
Euro with UBS AG	01/10/25	(45,657,199)	(47,313,413)	605,662
			Total Unrealized Appreciation	$1,189,827

^	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
Euro with Goldman Sachs International	01/19/24	5,315,000	$5,872,288	$27,910
Euro with UBS AG	01/19/24	3,395,000	3,750,972	10,119
			Total Unrealized Appreciation	$38,029
Contracts to Sell
Euro with Goldman Sachs International	01/19/24	(41,248,263)	$(45,573,223)	$(992,052)
Euro with UBS AG	01/19/24	(38,689,199)	(42,745,837)	(894,756)
			Total Unrealized Depreciation	$(1,886,808)

^	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	$1,650,526	$2,251,539	$906,928
Expenses
Management fee	360,078	505,085	676,052
Non-recurring fees and expenses	—	—	3,838
Total expenses	360,078	505,085	679,890
Net investment income (loss)	1,290,448	1,746,454	227,038
Realized and unrealized gain (loss) on investment activity
Net realized gain (loss) on
Foreign currency forward contracts	2,509,965	(2,624,737)	6,792,065
Short-term U.S. government and agency obligations	4,641	—	210,974
Net realized gain (loss)	2,514,606	(2,624,737)	7,003,039
Change in net unrealized appreciation (depreciation) on
Foreign currency forward contracts	3,005,829	612,477	(2,253,215)
Short-term U.S. government and agency obligations	—	(4,802)	11,965
Change in net unrealized appreciation (depreciation)	3,005,829	607,675	(2,241,250)
Net realized and unrealized gain (loss)	5,520,435	(2,017,062)	4,761,789
Net income (loss)	$6,810,883	$(270,608)	$4,988,827

	Year Ended December 31,
	2024	2023	2022
Shareholders’ equity, beginning of period	$39,367,550	$75,113,179	$54,263,045
Addition of 250,000, 300,000 and 2,200,000 shares, respectively	8,047,610	9,033,520	70,696,876
Redemption of 400,000, 1,500,000 and 1,750,000 shares, respectively	(12,333,369)	(44,508,541)	(54,835,569)
Net addition (redemption) of (150,000), (1,200,000) and 450,000 shares, respectively	(4,285,759)	(35,475,021)	15,861,307
Net investment income (loss)	1,290,448	1,746,454	227,038
Net realized gain (loss)	2,514,606	(2,624,737)	7,003,039
Change in net unrealized appreciation (depreciation)	3,005,829	607,675	(2,241,250)
Net income (loss)	6,810,883	(270,608)	4,988,827
Shareholders’ equity, end of period	$41,892,674	$39,367,550	$75,113,179

	Year Ended December 31,
	2024	2023	2022
Cash flow from operating activities
Net income (loss)	$6,810,883	$(270,608)	$4,988,827
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	—	(54,925,175)	(274,581,000)
Proceeds from sales or maturities of short-term U.S. government and agency obligations	4,641	95,000,000	282,210,974
Net amortization and accretion on short-term U.S. government and agency obligations	—	(83,003)	(442,534)
Net realized (gain) loss on investments	(4,641)	—	(210,974)
Change in unrealized (appreciation) depreciation on investments	(3,005,829)	(607,675)	2,241,250
Decrease (Increase) in interest receivable	29,388	(49,529)	(109,227)
Increase (Decrease) in payable to Sponsor	(715)	(30,003)	18,668
Net cash provided by (used in) operating activities	3,833,727	39,034,007	14,115,984
Cash flow from financing activities
Proceeds from addition of shares	8,047,610	9,033,520	70,696,876
Payment on shares redeemed	(12,333,369)	(44,508,541)	(54,835,569)
Net cash provided by (used in) financing activities	(4,285,759)	(35,475,021)	15,861,307
Net increase (decrease) in cash	(452,032)	3,558,986	29,977,291
Cash, beginning of period	41,090,342	37,531,356	7,554,065
Cash, end of period	$40,638,310	$41,090,342	$37,531,356

ContentsView on SEC.gov

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