ProShares Trust II Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>ProShares Trust II has submitted its quarterly 10-Q filing for the period ending March 31, 2024, providing an update on its financial status and operations.</b>

AI Summary

ProShares Trust II (UCO) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. ProShares Trust II filed a 10-Q report for the period ending March 31, 2024. The filing details financial information and operational aspects of the trust. The trust is incorporated in Delaware with a fiscal year end of December 31. The filing was made on May 9, 2024. The company's address is 7501 Wisconsin Ave, Suite 1000, Bethesda, MD 20814.

Why It Matters

For investors and stakeholders tracking ProShares Trust II, this filing contains several important signals. This 10-Q filing provides crucial, up-to-date financial and operational data for ProShares Trust II, essential for investors to assess the trust's performance and risk exposure. Understanding the details within this filing allows investors to make informed decisions regarding their investments in ProShares Trust II, particularly in relation to its underlying assets and market conditions.

Risk Assessment

Risk Level: low — ProShares Trust II shows low risk based on this filing. The filing is a standard 10-Q report for a financial trust, which typically contains routine financial disclosures and does not indicate significant new risks or operational changes.

Analyst Insight

Review the detailed financial statements and disclosures within the 10-Q to understand the trust's performance and asset allocation as of March 31, 2024.

Key Numbers

• 0.95% — Expense Ratio (Potential expense ratio if non-recurring fees and expenses, and brokerage commissions and futures account fees were excluded for the period ended March 31, 2024.)
• 0.95% — Expense Ratio (Potential expense ratio if non-recurring fees and expenses, and brokerage commissions and futures account fees were excluded for the period ended March 31, 2023.)

Key Players & Entities

• ProShares Trust II (company) — Filer of the 10-Q report.
• 20240331 (date) — Conformed period of report.
• 20240509 (date) — Filing date.
• 0001193125-24-134425 (filing_id) — Accession number for the filing.
• 7501 Wisconsin Ave, Suite 1000, Bethesda, MD 20814 (address) — Business and mailing address of ProShares Trust II.

FAQ

Risk Factors

• Market Value Fluctuations [medium — financial]: Market values are determined at the close of the applicable primary listing exchange, which may be later than when the Funds' net asset value is calculated.
• Collateral Pledging [medium — financial]: All or partial amount pledged as collateral for swap agreements.

Key Dates

• 2024-03-31: End of Reporting Period — The period covered by the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q was officially filed with the SEC.

Glossary

Net Asset Value (NAV)

The per-share market value of a fund, calculated by dividing the total value of the fund's assets minus its liabilities by the number of outstanding shares. (Crucial for understanding the value of fund shares and potential discounts or premiums to market price.)

Expense Ratio

The annual fee charged by a mutual fund or ETF, expressed as a percentage of the fund's average net assets. (Impacts the net return to investors; lower ratios generally mean higher returns.)

Swap Agreements

A derivative contract where two parties exchange financial instruments or cash flows. (Often used by ETFs to gain exposure to assets or manage risk, but can introduce counterparty risk.)

Key Financial Figures

• $0 — d 126,184,561 shares of common stock, $0 par value per share, outstanding. Tab

Filing Documents

• d817945d10q.htm (10-Q) — 5527KB
• d817945dex311.htm (EX-31.1) — 11KB
• d817945dex312.htm (EX-31.2) — 11KB
• d817945dex321.htm (EX-32.1) — 4KB
• d817945dex322.htm (EX-32.2) — 4KB
• 0001193125-24-134425.txt (&nbsp;) — 15356KB
• ck0001415311-20240331.xsd (EX-101.SCH) — 52KB
• ck0001415311-20240331_cal.xml (EX-101.CAL) — 28KB
• ck0001415311-20240331_def.xml (EX-101.DEF) — 351KB
• ck0001415311-20240331_lab.xml (EX-101.LAB) — 299KB
• ck0001415311-20240331_pre.xml (EX-101.PRE) — 399KB
• d817945d10q_htm.xml (XML) — 3570KB

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) 1

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 118

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 145

Controls and Procedures

Item 4. Controls and Procedures 159

OTHER INFORMATION

Part II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 161

Risk Factors

Item 1A. Risk Factors 161

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 162

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 164

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 164

Other Information

Item 5. Other Information 164

Exhibits

Item 6. Exhibits 165 Table of Contents

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION Item1. Financial Statements. Index Documents Page ProShares Short VIX Short-Term Futures ETF 2 ProShares Ultra Bloomberg Crude Oil 7 ProShares Ultra Bloomberg Natural Gas 12 ProShares Ultra Euro 17 ProShares Ultra Gold 22 ProShares Ultra Silver 27 ProShares Ultra VIX Short-Term Futures ETF 32 ProShares Ultra Yen 37 ProShares UltraShort Bloomberg Crude Oil 42 ProShares UltraShort Bloomberg Natural Gas 47 ProShares UltraShort Euro 52 ProShares UltraShort Gold 57 ProShares UltraShort Silver 62 ProShares UltraShort Yen 67 ProShares VIX Mid-Term Futures ETF 72 ProShares VIX Short-Term Futures ETF 77 ProShares Trust II 82

Notes to Financial Statements

Notes to Financial Statements 86 Table of Contents PROSHARES SHORT VIX SHORT-TERM FUTURES ETF March 31, 2024 (unaudited) December 31, 2023 Assets Short-term U.S. government and agency obligations (Note 3) (cost $ 148,766,040 and $ 109,391,681 , respectively) $ 148,757,467 $ 109,410,342 Cash 35,336,557 54,492,235 Segregated cash balances with brokers for futures contracts 92,929,810 88,647,616 Receivable on open futures contracts 38,527,249 30,330,665 Interest receivable 403,104 456,930 Total assets 315,954,187 283,337,788 Liabilities and shareholders' equity Liabilities Payable for capital shares redeemed — 15,522,316 Payable on open futures contracts 1,713,926 372,680 Brokerage commissions and futures account fees payable 7,440 9,571 Payable to Sponsor 254,022 248,862 Total liabilities 1,975,388 16,153,429 Commitments and Contingencies (Note 2) Shareholders' equity Shareholders' equity 313,978,799 267,184,359 Total liabilities and shareholders' equity $ 315,954,187 $ 283,337,788 Shares outstanding (Note 8) 5,568,614 5,168,614 Net asset value per share (Note 8) $ 56.38 $ 51.69 Market value per share (Note 8) (Note 2) $ 56.37 $ 51.70 See accompanying notes to financial statements. 2 Table of Contents PROSHARES SHORT VIX SHORT-TERM FUTURES ETF SCHEDULE OF INVESTMENTS MARCH 31, 2024 (unaudited) Principal Amount Value Short-term U.S. government and agency obligations ( 47 % of shareholders' equity) U.S. Treasury Bills &#x5E;&#x5E; : 5.365 % due 04/18/24 $ 50,000,000 $ 49,875,215 5.269 % due 06/06/24 50,000,000 49,521,960 5.352 % due 06/18/24 25,000,000 24,717,792 5.349 % due 07/09/24 25,000,000 24,642,500 Total short-term U.S. government and agency obligations (cost $ 148,766,040 ) $ 148,757,467 Futures Contracts Sold Number of Contracts Notional Amount at Value Unrealized Appreciati

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View this 10-Q filing on SEC EDGAR