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 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 $59,648,776, respectively) | $24,937,875 | $59,660,373 |
| Cash | 54,919,200 | 22,277,582 |
| Segregated cash balances with brokers for futures contracts | 50,955,604 | 72,849,393 |
| Receivable on open futures contracts | 2,613,474 | 2,362,837 |
| Interest receivable | 310,926 | 254,671 |
| Total assets | 133,737,079 | 157,404,856 |
| Liabilities and shareholders’ equity | ||
| Liabilities | ||
| Payable on open futures contracts | — | 580 |
| Brokerage commissions and futures account fees payable | 9,271 | 11,961 |
| Payable to Sponsor | 86,193 | 70,569 |
| Total liabilities | 95,464 | 83,110 |
| Commitments and Contingencies (Note 2) | ||
| Shareholders’ equity | ||
| Shareholders’ equity | 133,641,615 | 157,321,746 |
| Total liabilities and shareholders’ equity | $133,737,079 | $157,404,856 |
| Shares outstanding (Note 1) | 2,966,252 | 2,537,737 |
| Net asset value per share (Note 1) | $45.05 | $61.99 |
| Market value per share (Note 1) (Note 2) | $45.02 | $62.04 |
| Principal Amount | Value | |
|---|---|---|
| Short-term U.S. government and agency obligations | ||
| (19% 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 | 4,473 | $78,356,672 | $5,943,933 |
| VIX Futures - Cboe, expires February 2025 | 3,096 | 55,327,997 | (1,550,606) |
| $4,393,327 | |||
| ^^ | Rates shown represent discount rate at the time of purchase. |
|---|
| Principal Amount | Value | |
|---|---|---|
| Short-term U.S. government and agency obligations | ||
| (38% of shareholders’ equity) | ||
| U.S. Treasury Bills^^: | ||
| 5.442% due 01/18/24 | $25,000,000 | $24,941,222 |
| 5.417% due 02/20/24 | 25,000,000 | 24,820,845 |
| 5.382% due 03/12/24 | 10,000,000 | 9,898,306 |
| Total short-term U.S. government and agency obligations (cost $59,648,776) | $59,660,373 | |
| Number of Contracts | Notional Amount at Value | Unrealized Appreciation (Depreciation)/Value | |
|---|---|---|---|
| VIX Futures - Cboe, expires January 2024 | 6,347 | $89,182,966 | $(6,686,210) |
| VIX Futures - Cboe, expires February 2024 | 4,444 | 67,972,758 | (2,977,884) |
| $(9,664,094) | |||
| ^^ | Rates shown represent discount rate at the time of purchase. |
|---|
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Investment Income | |||
| Interest | $6,578,786 | $8,917,672 | $3,668,406 |
| Expenses | |||
| Management fee | 1,296,599 | 1,893,306 | 3,056,712 |
| Brokerage commissions | 244,821 | 318,288 | 570,374 |
| Futures account fees | 120,701 | 182,747 | 483,606 |
| Non-recurring fees and expenses | — | — | 15,841 |
| Total expenses | 1,662,121 | 2,394,341 | 4,126,533 |
| Net investment income (loss) | 4,916,665 | 6,523,331 | (458,127) |
| Realized and unrealized gain (loss) on investment activity | |||
| Net realized gain (loss) on | |||
| Futures contracts | (23,820,030) | (275,353,500) | (35,674,319) |
| Short-term U.S. government and agency obligations | 3,607 | (9,659) | 429 |
| Net realized gain (loss) | (23,816,423) | (275,363,159) | (35,673,890) |
| Change in net unrealized appreciation (depreciation) on | |||
| Futures contracts | 14,057,421 | 132,729 | 20,333,796 |
| Short-term U.S. government and agency obligations | (4,789) | (6,303) | 43,873 |
| Change in net unrealized appreciation (depreciation) | 14,052,632 | 126,426 | 20,377,669 |
| Net realized and unrealized gain (loss) | (9,763,791) | (275,236,733) | (15,296,221) |
| Net income (loss) | $(4,847,126) | $(268,713,402) | $(15,754,348) |
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Shareholders’ equity, beginning of period | $157,321,746 | $266,580,320 | $269,703,164 |
| Addition of 5,612,500, 3,315,000 and 2,025,000 shares, respectively (Note 1) | 265,134,179 | 402,345,393 | 625,710,255 |
| Redemption of 5,183,985, 1,946,404 and 1,747,500 shares, respectively (Note 1) | (283,967,184) | (242,890,565) | (613,078,751) |
| Net addition (redemption) of 428,515, 1,368,596 and 277,500 shares, respectively (Note 1) | (18,833,005) | 159,454,828 | 12,631,504 |
| Net investment income (loss) | 4,916,665 | 6,523,331 | (458,127) |
| Net realized gain (loss) | (23,816,423) | (275,363,159) | (35,673,890) |
| Change in net unrealized appreciation (depreciation) | 14,052,632 | 126,426 | 20,377,669 |
| Net income (loss) | (4,847,126) | (268,713,402) | (15,754,348) |
| Shareholders’ equity, end of period | $133,641,615 | $157,321,746 | $266,580,320 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flow from operating activities | |||
| Net income (loss) | $(4,847,126) | $(268,713,402) | $(15,754,348) |
| 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 | (306,861,269) | (712,835,220) | (4,010,889,547) |
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 344,782,389 | 746,625,222 | 4,073,968,933 |
| Net amortization and accretion on short-term U.S. government and agency obligations | (3,199,804) | (4,118,623) | (1,520,900) |
| Net realized (gain) loss on investments | (3,607) | 9,659 | (429) |
| Change in unrealized (appreciation) depreciation on investments | 4,789 | 6,303 | (43,873) |
| Decrease (Increase) in receivable on open futures contracts | (250,637) | 308,946 | (2,421,611) |
| Decrease (Increase) in interest receivable | (56,255) | 148,996 | (401,893) |
| Increase (Decrease) in payable to Sponsor | 15,624 | (84,561) | (31,723) |
| Increase (Decrease) in brokerage commissions and futures account fees payable | (2,690) | (15,141) | (11,824) |
| Increase (Decrease) in payable on open futures contracts | (580) | (369,415) | (1,694,336) |
| Net cash provided by (used in) operating activities | 29,580,834 | (239,037,236) | 41,198,449 |
| Cash flow from financing activities | |||
| Proceeds from addition of shares | 265,134,179 | 402,345,393 | 628,736,869 |
| Payment on shares redeemed | (283,967,184) | (243,461,038) | (612,508,278) |
| Net cash provided by (used in) financing activities | (18,833,005) | 158,884,355 | 16,228,591 |
| Net increase (decrease) in cash | 10,747,829 | (80,152,881) | 57,427,040 |
| Cash, beginning of period | 95,126,975 | 175,279,856 | 117,852,816 |
| Cash, end of period | $105,874,804 | $95,126,975 | $175,279,856 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.