ProShares Trust II

For the period ended Mar 31, 2026. Filed May 8, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 8, 2026

SCO$19.74+5.2%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

ProShares VIX Mid-Term Futures ETF

	March 31, 2026 (unaudited)	December 31, 2025
Assets
Short-term U.S. government and agency obligations (Note 3) (cost $19,941,678 and $–, respectively)	$19,941,516	$—
Affiliated investments (cost $20,008,000 and $–, respectively)	20,014,000	—
Cash	23,984,257	38,019,261
Segregated cash balances with brokers for futures contracts	8,883,333	6,491,709
Receivable from capital shares sold	613	1,143,390
Receivable on open futures contracts	—	169,802
Receivable for dividends from affiliates	13,667	—
Interest receivable	110,223	117,024
Total assets	72,947,609	45,941,186
Liabilities and shareholders’ equity
Liabilities
Payable on open futures contracts	1,679,940	—
Brokerage commissions and futures account fees payable	547	2,156
Payable to Sponsor	46,044	27,972
Total liabilities	1,726,531	30,128
Commitments and Contingencies (Note 2)
Shareholders’ equity
Shareholders’ equity	71,221,078	45,911,058
Total liabilities and shareholders’ equity	$72,947,609	$45,941,186
Shares outstanding	4,137,403	3,012,403
Net asset value per share	$17.21	$15.24
Market value per share (Note 2)	$17.15	$15.27

	Principal Amount	Value
Short-term U.S. government and agency obligations
(28% of shareholders’ equity)
U.S. Treasury Bills^^:
3.721% due 04/30/26	$20,000,000	$19,941,516
Total short-term U.S. government and agency obligations (cost $19,941,678)		$19,941,516
Shares
Affiliated Investments
Exchange Traded Fund
(28% of shareholders’ equity)
ProShares Genius Money Market ETF 3.52%(a)(b) (cost $20,008,000)	200,000	20,014,000
Total Investments in Securities (cost $39,949,678)		$39,955,516

	Number of Contracts	Notional Amount at Value	Unrealized Appreciation (Depreciation)/Value
VIX Futures - Cboe, expires July 2026	462	$11,277,097	$1,502,251
VIX Futures - Cboe, expires August 2026	974	23,668,492	2,550,979
VIX Futures - Cboe, expires September 2026	974	23,716,900	1,342,477
VIX Futures - Cboe, expires October 2026	513	12,568,500	98,639
			$5,494,346

(a)	Affiliated company as defined under the Investment Company Act of 1940.

(b)	Represents 7-day effective yield as of March 31, 2026.

^^	Rates shown represent discount rate at the time of purchase.

	Three Months Ended March 31,
	2026	2025
Investment Income
Interest	$392,812	$281,099
Dividends from affiliates (Note 5)	66,872	—
Total income	459,684	281,099
Expenses
Management fee	130,064	63,974
Brokerage commissions	14,946	12,545
Futures accounts fees	4,027	3,120
Total expenses	149,037	79,639
Net investment income (loss)	310,647	201,460
Realized and unrealized gain (loss) on investment activity
Net realized gain (loss) on
Futures contracts	549,706	707,192
Payment from affiliate (Note 5)	3,209	—
Net realized gain (loss)	552,915	707,192
Change in net unrealized appreciation (depreciation) on
Futures contracts	7,529,895	1,624,484
Short-term U.S. government and agency obligations	(162)	—
Affiliated investments	6,000	—
Change in net unrealized appreciation (depreciation)	7,535,733	1,624,484
Net realized and unrealized gain (loss)	8,088,648	2,331,676
Net income (loss)	$8,399,295	$2,533,136

	Three Months Ended March 31,
	2026	2025
Shareholders’ equity, beginning of period	$45,911,058	$28,111,210
Addition of 1,600,000 and 1,300,000 shares, respectively	24,591,336	20,127,612
Redemption of 475,000 and 1,075,000 shares, respectively	(7,680,611)	(16,525,151)
Net addition (redemption) of 1,125,000 and 225,000 shares, respectively	16,910,725	3,602,461
Net investment income (loss)	310,647	201,460
Net realized gain (loss)	552,915	707,192
Change in net unrealized appreciation (depreciation)	7,535,733	1,624,484
Net income (loss)	8,399,295	2,533,136
Shareholders’ equity, end of period	$71,221,078	$34,246,807

	Three Months Ended March 31,
	2026	2025
Cash flow from operating activities
Net income (loss)	$8,399,295	$2,533,136
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	(19,925,589)	—
Cost of affiliated investments purchased	(20,008,000)	—
Net amortization and accretion on short-term U.S. government and agency obligations	(16,089)	—
Change in unrealized (appreciation) depreciation on investments	(5,838)	—
Decrease (Increase) in receivable on open futures contracts	169,802	(105,025)
Decrease (Increase) in receivable for dividends from affiliates	(13,667)	—
Decrease (Increase) in interest receivable	6,801	(14,027)
Increase (Decrease) in payable to Sponsor	18,072	7,934
Increase (Decrease) in brokerage commissions and futures account fees payable	(1,609)	17
Increase (Decrease) in payable on open futures contracts	1,679,940	(50,382)
Net cash provided by (used in) operating activities	(29,696,882)	2,371,653
Cash flow from financing activities
Proceeds from addition of shares	25,734,113	20,127,612
Payment on shares redeemed	(7,680,611)	(16,129,337)
Net cash provided by (used in) financing activities	18,053,502	3,998,275
Net increase (decrease) in cash	(11,643,380)	6,369,928
Cash, beginning of period	44,510,970	28,081,839
Cash, end of period	$32,867,590	$34,451,767

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.