v2.4.0.6

Investments | 3 Months Ended
--- | ---
Mar. 31, 2013
Investments | NOTE 3 – INVESTMENTS Short-Term Investments The Funds may purchase U.S. Treasury Bills, agency securities, and other high-credit quality short-term fixed income or similar securities with original maturities of one year or less. A portion of these investments may be posted as collateral in connection with swap agreements and/or used as collateral for a Fund’s trading in futures and forward contracts. Accounting for Derivative Instruments In seeking to achieve each Fund’s investment objective, the Sponsor uses a mathematical approach to investing. Using this approach, the Sponsor determines the type, quantity and mix of investment positions, including derivative positions, which the Sponsor believes in combination, should produce returns consistent with a Fund’s objective. All open derivative positions at period-end for each Fund are disclosed in the Schedule of Investments and the notional value of these open positions relative to the shareholders’ equity of each Fund is generally representative of the notional value of open positions to shareholders’ equity throughout the reporting period for each respective Fund. The volume associated with derivative positions varies on a daily basis as each Fund transacts derivative contracts in order to achieve the appropriate exposure, as expressed in notional value, in comparison to shareholders’ equity consistent with each Fund’s investment objective. Following is a description of the derivative instruments used by the Funds during the reporting period, including the primary underlying risk exposures related to each instrument type. Futures Contracts The Funds enter into futures contracts to gain exposure to changes in the value of, or as a substitute for investing directly in (or shorting), an underlying index, currency or commodity. A futures contract obligates the seller to deliver (and the purchaser to accept) the future delivery of a specified quantity and type of asset at a specified time and place. The contractual obligations of a buyer or seller may generally be satisfied by taking or making physical delivery of the underlying commodity, if applicable, or by making an offsetting sale or purchase of an identical futures contract on the same or linked exchange before the designated date of delivery, or by cash settlement at expiration of contract. Upon entering into a futures contract, each Fund is required to deposit and maintain as collateral at least such initial margin as required by the exchange on which the transaction is effected. The initial margin is segregated as cash balances with brokers for futures contracts, as disclosed in the Statements of Financial Condition, and is restricted as to its use. The Funds that enter into futures contracts maintain collateral at the broker in the form of cash. Pursuant to the futures contract, each Fund generally agrees to receive from or pay to the broker(s) an amount of cash equal to the daily fluctuation in value of the futures contract. Such receipts or payments are known as variation margin and are recorded by each Fund as unrealized gains or losses. Each Fund will realize a gain or loss upon closing of a futures transaction. Futures contracts involve, to varying degrees, elements of market risk (specifically commodity price risk or equity market volatility risk) and exposure to loss in excess of the amount of variation margin. The face or contract amounts reflect the extent of the total exposure each Fund has in the particular classes of instruments. Additional risks associated with the use of futures contracts are imperfect correlation between movements in the price of the futures contracts and the market value of the underlying index or commodity and the possibility of an illiquid market for a futures contract. With futures contracts, there is minimal but some counterparty risk to the Funds since futures contracts are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange-traded futures contracts, guarantees the futures contracts against default. Many futures exchanges and boards of trade limit the amount of fluctuation permitted in futures contract prices during a single trading day. Once the daily limit has been reached in a particular contract, no trades may be made that day at a price beyond that limit or trading may be suspended for specified times during the trading day. Futures contracts prices could move to the limit for several consecutive trading days with little or no trading, thereby preventing prompt liquidation of futures positions and potentially subjecting a Fund to substantial losses. If trading is not possible, or if a Fund determines not to close a futures position in anticipation of adverse price movements, the Fund will be required to make daily cash payments of variation margin. The risk the Fund will be unable to close out a futures position will be minimized by entering into such transactions on a national exchange with an active and liquid secondary market. Swap Agreements Certain of the Funds enter into swap agreements for purposes of pursuing their investment objectives or as a substitute for investing directly in (or shorting) an underlying index, currency or commodity, or to create an economic hedge against a position. Swap agreements are two-party contracts that have traditionally been entered into primarily with institutional investors in over-the-counter (“OTC”) markets for a specified period, ranging from a day to more than one year. However, the Dodd-Frank Wall Street Reform and Consumers Protection Act (the “Dodd-Frank Act”) provides for significant reforms of the OTC derivative markets, including a requirement to execute certain swap and forward transactions on a CFTC-regulated market and/or to clear such transactions through a CFTC-regulated central clearing organization. In a standard swap transaction, two parties agree to exchange the returns earned or realized on a particular predetermined investment, instrument or index in exchange for a fixed or floating rate of return in respect of a predetermined notional amount. In the case of futures contracts based indices, such as those used by the Commodity Index Funds and the VIX Funds, the reference interest rate is zero. Transaction or commission costs are reflected in the benchmark level at which the transaction is entered into. The gross returns to be exchanged are calculated with respect to a notional amount and the benchmark returns to which the swap is linked. Swap agreements do not involve the delivery of underlying instruments. Generally, swap agreements entered into by the Funds calculate and settle the obligations of the parties to the agreement on a “net basis” with a single payment. Consequently, each Fund’s current obligations (or rights) under a swap agreement will generally be equal only to the net amount to be paid or received under the agreement based on the relative values of such obligations (or rights) (the “net amount”). In a typical swap agreement entered into by a Matching VIX Fund or an Ultra Fund, the Matching VIX Fund or Ultra Fund would be entitled to settlement payments in the event the benchmark increases and would be required to make payments to the swap counterparties in the event the benchmark decreases, adjusted for any transaction costs or trading spreads on the notional amount the Funds may pay. In a typical swap agreement entered into by a Short Fund or an UltraShort Fund, the Short Fund or UltraShort Fund would be required to make payments to the swap counterparties in the event the benchmark increases and would be entitled to settlement payments in the event the benchmark decreases, adjusted for any transaction costs or trading spreads on the notional amount the Funds may pay. The net amount of the excess, if any, of each Fund’s obligations over its entitlements with respect to each uncleared swap agreement is accrued on a daily basis and an amount of cash and/or securities having an aggregate value at least equal to such accrued excess is maintained for the benefit of the counterparty in a segregated account by the Funds’ Custodian. The net amount of the excess, if any, of each Fund’s entitlements over its obligations with respect to each uncleared swap agreement is accrued on a daily basis and an amount of cash and/or securities having an aggregate value at least equal to such accrued excess is maintained for the benefit of the Fund in a segregated account by the Fund’s Custodian. Until a swap agreement is settled in cash, the gain or loss on the notional amount less any transaction costs or trading spreads payable by each Fund on the notional amount are recorded as “unrealized appreciation or depreciation on swap agreements” and, when cash is exchanged, the gain or loss realized is recorded as “realized gains or losses on swap agreements.” Swap agreements are generally valued at the last settled price of the benchmark referenced asset. The Trust, on behalf of a Fund, may enter into agreements with certain counterparties for derivative transactions. These agreements contain various conditions, events of default, termination events, covenants and representations. The triggering of certain events or the default on certain terms of the agreement could allow a party to terminate a transaction under the agreement and request immediate payment in an amount equal to the net positions owed the party under the agreement. This could cause a Fund to have to enter into a new transaction with the same counterparty, enter into a transaction with a different counterparty or seek to achieve its investment objective through any number of different investments or investment techniques. Swap agreements involve, to varying degrees, elements of market risk (commodity price risk) and exposure to loss in excess of the unrealized gain/loss reflected. The notional amounts reflect the extent of the total investment exposure each Fund has under the swap agreement, which may exceed the NAV of each Fund. Additional risks associated with the use of swap agreements are imperfect correlations between movements in the notional amount and the price of the underlying reference index and the inability of counterparties to perform. Each Fund bears the risk of loss of the amount expected to be received under a swap agreement in the event of the default or bankruptcy of a swap agreement counterparty. A Fund will typically enter into swap agreements only with major global financial institutions. The creditworthiness of each of the firms that is a party to a swap agreement is monitored by the Sponsor. The Sponsor may use various techniques to minimize credit risk including early termination and payment, using different counterparties, limiting the net amount due from any individual counterparty and generally requiring collateral to be posted by the counterparty in an amount approximately equal to that owed to the Funds. All of the outstanding swap agreements at March 31, 2013 contractually terminate within one month but may be terminated without penalty by either party daily. Upon termination, the Fund is entitled to pay or receive the “unrealized appreciation or depreciation” amount. The Funds, as applicable, collateralize swap agreements by segregating or designating cash and/or certain securities as indicated on the Statements of Financial Condition or Schedules of Investments. As noted above, collateral posted in connection with uncleared derivative transactions is held for the benefit of the counterparty in a segregated tri-party account at the Custodian to protect the counterparty against non-payment by the Funds. In the event of a default by the counterparty, the Funds will seek withdrawal of this collateral from the segregated account and may incur certain costs in exercising its right with respect to the collateral. If a counterparty becomes bankrupt or otherwise fails to perform its obligations due to financial difficulties, the Funds may experience significant delays in obtaining any recovery in a bankruptcy or other reorganizational proceeding. The Funds may obtain only limited recovery or may obtain no recovery in such circumstances. The Funds remain subject to credit risk with respect to the amount they expect to receive from counterparties. However, the Funds have sought to mitigate these risks in connection with uncleared swaps by generally requiring that the counterparties for each Fund agree to post collateral for the benefit of the Fund, marked to market daily, in an amount approximately equal to what the counterparty owes the Fund, subject to certain minimum thresholds. In the event of the bankruptcy of a counterparty, the Fund will have direct access to the collateral received from the counterparty, generally as of the day prior to the bankruptcy, because there is a one day time lag between the Fund’s request for collateral and the delivery of such collateral. To the extent any such collateral is insufficient, the Funds will be exposed to counterparty risk as described above, including the possible delays in recovering amounts as a result of bankruptcy proceedings. As of March 31, 2013, the collateral posted by counterparties consisted of cash and U.S. Treasury Securities. The counterparty/credit risk for cleared derivative transactions is generally lower than for uncleared over-the-counter derivatives since generally a clearing organization becomes substituted for each counterparty to a cleared derivative contract and, in effect, guarantees the parties’ performance under the contract as each party to a trade looks only to the clearing organization for performance of financial obligations. In addition, cleared derivative transactions benefit from daily marking-to-market and settlement, and segregation and minimum capital requirements applicable to intermediaries. Forward Contracts Certain of the Funds enter into forward contracts for purposes of pursuing their investment objectives and as a substitute for investing directly in (or shorting) commodities and/or currencies. A forward contract is an agreement between two parties to purchase or sell a specified quantity of an asset at or before a specified date in the future at a specified price. Forward contracts are typically traded in the OTC markets and all details of the contract are negotiated between the counterparties to the agreement. Accordingly, the forward contracts are valued by reference to the contracts traded in the OTC markets. The contractual obligations of a buyer or seller may generally be satisfied by taking or making physical delivery of the underlying commodity or currency, establishing an opposite position in the contract and recognizing the profit or loss on both positions simultaneously on the delivery date or, in some instances, paying a cash settlement before the designated date of delivery. The forward contracts are adjusted by the daily fluctuation of the underlying commodity or currency and any gains or losses are recorded for financial statement purposes as unrealized gains or losses until the contract settlement date. Forward contracts have traditionally not been cleared or guaranteed by a third party. However, the Dodd-Frank Act provides for significant reforms of the OTC derivatives markets, including a requirement to execute most forward contracts on a CFTC-regulated market and/or to clear such transactions through a CFTC-regulated central clearing organization. The Funds may collateralize uncleared forward commodity contracts by segregating or designating cash and/or certain securities as indicated on their Statements of Financial Condition or Schedules of Investments. Such collateral is held for the benefit of the counterparty in a segregated tri-party account at the Custodian to protect the counterparty against non-payment by the Funds. In the event of a default by the counterparty, the Funds will seek withdrawal of this collateral from the segregated account and may incur certain costs in exercising its right with respect to the collateral. If a counterparty becomes bankrupt or otherwise fails to perform its obligations due to financial difficulties, the Funds may experience significant delays in obtaining any recovery in a bankruptcy or other reorganizational proceeding. The Funds may obtain only limited recovery or may obtain no recovery in such circumstances. The Funds remain subject to credit risk with respect to the amount they expect to receive from counterparties. However, the Funds have sought to mitigate these risks in connection with uncleared swaps by generally requiring that the counterparties for each Fund agree to post collateral for the benefit of the Fund, marked to market daily, in an amount approximately equal to what the counterparty owes a Fund, subject to minimum thresholds. In the event of the bankruptcy of a counterparty, the Fund will have direct access to the collateral received from the counterparty, generally as of the day prior to the bankruptcy, because there is a one day time lag between the Fund’s request for collateral and the delivery of such collateral. To the extent any such collateral is insufficient, the Fund will be exposed to counterparty risk as described above, including the possible delays in recovering amounts as a result of bankruptcy proceedings. As of March 31, 2013, the collateral posted by counterparties consisted of cash and U.S. Treasury Securities. Participants in trading foreign exchange forward contracts often do not require margin deposits, but rely upon internal credit limitations and their judgments regarding the creditworthiness of their counterparties. In recent years, however, many OTC market participants in foreign exchange trading have begun to require their counterparties to post margin. A Fund will typically enter into forward contracts only with major global financial institutions. The creditworthiness of each of the firms that is a party to a forward contract is monitored by the Sponsor. The counterparty/credit risk for cleared derivative transactions is generally lower than for uncleared over-the-counter derivatives since generally a clearing organization becomes substituted for each counterparty to a cleared derivative contract and, in effect, guarantees the parties’ performance under the contract as each party to a trade looks only to the clearing organization for performance of financial obligations. In addition, cleared derivative transactions benefit from daily marking-to-market and settlement, and segregation and minimum capital requirements applicable to intermediaries. Fair Value of Derivative Instruments as of March 31, 2013
|  | Asset Derivatives |  |  | Liability Derivatives |
Derivatives not accounted for as hedging instruments |  | Statements of Financial Condition Location |  | Fund |  | Unrealized Appreciation |  |  | Statements of Financial Condition Location |  | Fund |  | Unrealized Depreciation |
Commodities Contracts |  | Receivables on open futures contracts, unrealized appreciation on swap and/or forward agreements |  | ProShares UltraShort DJ-UBS Crude Oil |  | $ | 231,524 | * |  | Payable on open futures contracts, unrealized depreciation on swap and/or forward agreement |  | ProShares UltraShort DJ-UBS Commodity |  | $ | 92,919 |
|  | ProShares UltraShort Silver |  |  | 294,121 | * |  |  | ProShares UltraShort DJ-UBS Crude Oil |  |  | 11,368,414 |
|  | ProShares Ultra DJ-UBS Commodity |  |  | 115,047 |  |  |  | ProShares UltraShort DJ-UBS Natural Gas |  |  | 3,496,753 | *
|  | ProShares Ultra DJ-UBS Crude Oil |  |  | 26,556,087 | * |  |  | ProShares UltraShort Gold |  |  | 3,247,692 | *
|  | ProShares Ultra DJ-UBS Natural Gas |  |  | 14,044,618 | * |  |  | ProShares UltraShort Silver |  |  | 11,313 |
|  | ProShares Ultra Gold |  |  | 9,223,820 | * |  |  | ProShares Ultra Silver |  |  | 8,134,488 | *
Foreign Exchange Contracts |  | Unrealized appreciation on foreign currency forward contracts and receivables on open futures contracts |  | ProShares Short Euro |  |  | 61,713 | * |  | Unrealized depreciation on foreign currency forward contracts and payable on open futures contracts |  | ProShares UltraShort Australian Dollar |  |  | 109,570 | *
|  | ProShares UltraShort Euro |  |  | 15,104,660 |  |  |  | ProShares UltraShort Euro |  |  | 1,439,211 |
|  | ProShares UltraShort Yen |  |  | 2,732,626 |  |  |  | ProShares Ultra Euro |  |  | 137,134 |
|  | ProShares Ultra Australian Dollar |  |  | 124,930 | * |  |  | ProShares Ultra Yen |  |  | 70,562 |
|  | ProShares Ultra Euro |  |  | 3,138 |  |  |  |  |  |  |  |
VIX Futures Contracts |  | Receivables on open futures contracts, unrealized appreciation on swap and/or forwards agreement |  | ProShares Short VIX Short-Term Futures ETF |  |  | 2,388,716 | * |  | Payable on open futures contracts, unrealized depreciation on swap and/or forwards agreement |  | ProShares VIX Short-Term Futures ETF |  |  | 8,346,060 | *
|  |  |  |  |  |  |  |  | ProShares VIX Mid-Term Futures ETF |  |  | 1,876,429 | *
|  |  |  |  |  |  |  |  | ProShares Ultra VIX Short-Term Futures ETF |  |  | 18,737,121 | *
|  |  |  | Total Trust |  | $ | 70,881,000 | * |  |  |  | Total Trust |  | $ | 57,067,666 | *
* | Includes cumulative appreciation/depreciation of futures contracts as reported in the Schedules of Investments. Only current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts.
Fair Value of Derivative Instruments as of December 31, 2012
|  | Asset Derivatives |  |  | Liability Derivatives |
Derivatives not accounted for as hedging instruments |  | Statements of Financial Condition Location |  | Fund |  | Unrealized Appreciation |  |  | Statements of Financial Condition Location |  | Fund |  | Unrealized Depreciation |
Commodities Contracts |  | Receivables on open futures contracts, unrealized appreciation on swap and/or forward agreements |  | ProShares UltraShort DJ-UBS Commodity |  | $ | 148,502 |  |  | Payable on open futures contracts, unrealized depreciation on swap and/or forward agreement |  | ProShares UltraShort DJ-UBS Crude Oil |  | $ | 9,636,781 | *
|  | ProShares UltraShort DJ-UBS Natural Gas |  |  | 409,135 | * |  |  | ProShares Ultra DJ-UBS Commodity |  |  | 306,268 |
|  | ProShares UltraShort Gold |  |  | 3,745,096 | * |  |  | ProShares Ultra DJ-UBS Natural Gas |  |  | 3,816,950 | *
|  | ProShares UltraShort Silver |  |  | 19,347,705 | * |  |  | ProShares Ultra Gold |  |  | 15,667,298 | *
|  | ProShares Ultra DJ-UBS Crude Oil |  |  | 55,294,030 | * |  |  | ProShares Ultra Silver |  |  | 145,780,726 | *
Foreign Exchange Contracts |  | Unrealized appreciation on foreign currency forward contracts and receivables on open futures contracts |  | ProShares UltraShort Australian Dollar |  |  | 85,590 | * |  | Unrealized depreciation on foreign currency forward contracts and payable on open futures contracts |  | ProShares Short Euro |  |  | 55,056 | *
|  | ProShares UltraShort Euro |  |  | 251,047 |  |  |  | ProShares UltraShort Euro |  |  | 13,398,619 |
|  | ProShares UltraShort Yen |  |  | 38,346,817 |  |  |  | ProShares UltraShort Yen |  |  | 232,642 |
|  | ProShares Ultra Euro |  |  | 89,473 |  |  |  | ProShares Ultra Australian Dollar |  |  | 99,030 | *
|  | ProShares Ultra Yen |  |  | 13,523 |  |  |  | ProShares Ultra Euro |  |  | 2,314 |
|  |  |  |  |  |  |  |  | ProShares Ultra Yen |  |  | 507,819 |
VIX Futures Contracts |  | Receivables on open futures contracts, unrealized appreciation on swap and/or forwards agreement |  | ProShares VIX Short-Term Futures ETF |  |  | 2,368,824 | * |  | Payable on open futures contracts, unrealized depreciation on swap and/or forwards agreement |  | ProShares VIX Short-Term Futures ETF |  |  | 2,590,243 | *
|  | ProShares VIX Mid-Term Futures ETF |  |  | 233,160 | * |  |  | ProShares VIX Mid-Term Futures ETF |  |  | 1,703,570 | *
|  | ProShares Ultra VIX Short-Term Futures ETF |  |  | 4,034,873 | * |  |  | ProShares Ultra VIX Short-Term Futures ETF |  |  | 1,676,460 | *
|  | ProShares Short VIX Short-Term Futures ETF |  |  | 627,059 | * |  |  | ProShares Short VIX Short-Term Futures ETF |  |  | 2,014,234 | *
|  |  |  | Total Trust |  | $ | 124,994,834 | * |  |  |  | Total Trust |  | $ | 197,488,010 | *
* | Includes cumulative appreciation/depreciation of futures contracts as reported in the Schedules of Investments. Only current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts.
The Effect of Derivative Instruments on the Statements of Operations For the three months ended March 31, 2013
Derivatives not accounted for as hedging instruments |  | Location of Gain or (Loss) on Derivatives Recognized in Income |  | Fund |  | Realized Gain or (Loss) on Derivatives Recognized in Income |  |  | Change in Unrealized Appreciation or Depreciation on Derivatives Recognized in Income |
Commodity Contracts |  | Net realized gain (loss) on futures contracts, swap and/or forward agreements/changes in unrealized appreciation/ depreciation on futures contracts, swap and/or forward agreements |  | ProShares UltraShort DJ-UBS Commodity |  | $ | 308,498 |  |  | $ | (241,421 | )
|  | ProShares UltraShort DJ-UBS Crude Oil |  |  | (6,125,158 | ) |  |  | (1,500,109 | )
|  | ProShares UltraShort DJ-UBS Natural Gas |  |  | (1,773,421 | ) |  |  | (3,905,888 | )
|  | ProShares UltraShort Gold |  |  | 12,883,467 |  |  |  | (6,992,788 | )
|  | ProShares UltraShort Silver |  |  | 29,204,512 |  |  |  | (19,064,897 | )
|  | ProShares Ultra DJ-UBS Commodity |  |  | (508,897 | ) |  |  | 421,315 |
|  | ProShares Ultra DJ-UBS Crude Oil |  |  | 66,564,325 |  |  |  | (28,737,943 | )
|  | ProShares Ultra DJ-UBS Natural Gas |  |  | 5,748,194 |  |  |  | 17,861,568 |
|  | ProShares Ultra Gold |  |  | (50,415,205 | ) |  |  | 24,891,118 |
|  | ProShares Ultra Silver |  |  | (215,688,548 | ) |  |  | 137,646,238 |
Foreign Exchange Contracts |  | Net realized gain (loss) on futures contracts, swap and/or forward agreements/changes in unrealized appreciation/ depreciation on futures contracts, swap and/or forward agreements |  | ProShares Short Euro |  |  | (8,000 | ) |  |  | 116,769 |
|  | ProShares UltraShort Australian Dollar |  |  | 112,030 |  |  |  | (195,160 | )
|  | ProShares UltraShort Euro |  |  | (2,949,680 | ) |  |  | 26,813,021 |
|  | ProShares UltraShort Yen |  |  | 96,886,297 |  |  |  | (35,381,549 | )
|  | ProShares Ultra Australian Dollar |  |  | (149,275 | ) |  |  | 223,960 |
|  | ProShares Ultra Euro |  |  | (65,362 | ) |  |  | (221,155 | )
|  | ProShares Ultra Yen |  |  | (1,217,971 | ) |  |  | 423,734 |
VIX Futures Contracts |  | Net realized gain (loss) on futures contracts, swap and/or forward agreements/changes in unrealized appreciation/ depreciation on futures contracts, swap and/or forward agreements |  | ProShares VIX Short-Term Futures ETF |  |  | (55,408,949 | ) |  |  | (8,124,641 | )
|  | ProShares VIX Mid-Term Futures ETF |  |  | (10,260,171 | ) |  |  | (406,019 | )
|  | ProShares Ultra VIX Short-Term Futures ETF |  |  | (122,690,073 | ) |  |  | (21,095,534 | )
|  | ProShares Short VIX Short-Term Futures ETF |  |  | 25,204,111 |  |  |  | 3,775,891 |
|  |  |  | Total Trust |  | $ | (230,349,276 | ) |  | $ | 86,306,510 |
The Effect of Derivative Instruments on the Statements of Operations For the three months ended March 31, 2012
Derivatives not accounted for as hedging instruments |  | Location of Gain or (Loss) on Derivatives Recognized in Income |  | Fund |  | Realized Gain or (Loss) on Derivatives Recognized in Income |  |  | Change in Unrealized Appreciation or Depreciation on Derivatives Recognized in Income |
Commodity Contracts |  | Net realized gain (loss) on futures contracts, swap and/or forward agreements/changes in unrealized appreciation/ depreciation on futures contracts, swap and/or forward agreements |  | ProShares UltraShort DJ-UBS Commodity |  | $ | 74,310 |  |  | $ | (361,088 | )
|  | ProShares UltraShort DJ-UBS Crude Oil |  |  | (3,831,611 | ) |  |  | (901,690 | )
|  | ProShares UltraShort DJ-UBS Natural Gas |  |  | 4,437,111 |  |  |  | 5,930,960 |
|  | ProShares UltraShort Gold |  |  | (1,545,985 | ) |  |  | (33,068,073 | )
|  | ProShares UltraShort Silver |  |  | (35,684,414 | ) |  |  | (34,342,752 | )
|  | ProShares Ultra DJ-UBS Commodity |  |  | (322,448 | ) |  |  | 421,325 |
|  | ProShares Ultra DJ-UBS Crude Oil |  |  | 15,544,135 |  |  |  | 9,089,628 |
|  | ProShares Ultra DJ-UBS Natural Gas |  |  | (5,158,571 | ) |  |  | (15,543,310 | )
|  | ProShares Ultra Gold |  |  | (29,858,796 | ) |  |  | 76,461,894 |
|  | ProShares Ultra Silver |  |  | 8,106,450 |  |  |  | 132,908,783 |
Foreign Exchange Contracts |  | Net realized gain (loss) on foreign currency forward contracts/changes in unrealized appreciation/ depreciation on foreign currency forward contracts |  | ProShares UltraShort Euro |  |  | 38,812,588 |  |  |  | (98,488,552 | )
|  | ProShares UltraShort Yen |  |  | 20,853,004 |  |  |  | 17,433,639 |
|  | ProShares Ultra Euro |  |  | (249,576 | ) |  |  | 811,782 |
|  | ProShares Ultra Yen |  |  | (425,209 | ) |  |  | (328,692 | )
VIX Futures Contracts |  | Net realized gain (loss) on futures contracts/ changes in unrealized appreciation/ depreciation on futures contracts and swap agreements |  | ProShares VIX Short-Term Futures ETF |  |  | (42,732,137 | ) |  |  | (17,345,947 | )
|  | ProShares VIX Mid-Term Futures ETF |  |  | (22,417,600 | ) |  |  | (5,041,600 | )
|  | ProShares Ultra VIX Short-Term Futures ETF |  |  | (119,246,992 | ) |  |  | (33,611,433 | )
|  | ProShares Short VIX Short-Term Futures ETF |  |  | 6,857,840 |  |  |  | 815,550 |
|  |  |  | Total Trust |  | $ | (166,787,901 | ) |  | $ | 4,840,424 |
Offsetting Assets and Liabilities Effective January 1, 2013, the Funds adopted Accounting Standards Update (“ASU”) No. 2011-11 “Disclosures about Offsetting Assets and Liabilities” which was subsequently clarified in FASB ASU 2013-01 “Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities”. The amended standard requires an entity to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. As described in Note 3, the Funds utilize derivative instruments to achieve each Fund’s investment objective. The amounts shown in the Statement of Financial Condition do not take into consideration the effects of legally enforceable master netting agreements. The following tables present the gross and net amounts of these assets and liabilities with any offsets to reflect the Funds’ ability to reflect the master netting agreements at March 31, 2013 and December 31, 2012: ProShares UltraShort DJ-UBS Commodity Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Swap agreements |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Swap agreements |  | $ | 92,919 |  |  | $ | — |  |  | $ | 92,919 |
Total |  | $ | 92,919 |  |  | $ | — |  |  | $ | 92,919 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
Goldman Sachs International |  | $ | 64,434 |  |  | $ | (64,434 | ) |  | $ | — |  |  | $ | — |
UBS AG |  |  | 28,485 |  |  |  | (28,485 | ) |  |  | — |  |  |  | — |
Total |  | $ | 92,919 |  |  | $ | (92,919 | ) |  | $ | — |  |  | $ | — |
ProShares UltraShort DJ-UBS Crude Oil Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Swap agreements |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 1,350,973 |  |  |  | — |  |  | $ | 1,350,973 |
Swap agreements |  |  | 11,368,414 |  |  |  | — |  |  |  | 11,368,414 |
Total |  | $ | 12,719,387 |  |  | $ | — |  |  | $ | 12,719,387 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
Goldman Sachs & Co. |  | $ | 1,350,973 |  |  | $ | — |  |  | $ | (1,350,973 | ) |  | $ | — |
Goldman Sachs International |  |  | 6,252,210 |  |  |  | (6,252,210 | ) |  |  | — |  |  |  | — |
Societe Generale S.A. |  |  | 1,130,052 |  |  |  | (1,130,052 | ) |  |  | — |  |  |  | — |
UBS AG |  |  | 3,986,152 |  |  |  | (3,986,152 | ) |  |  | — |  |  |  | — |
Total |  | $ | 12,719,387 |  |  | $ | (11,368,414 | ) |  | $ | (1,350,973 | ) |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares UltraShort DJ-UBS Natural Gas Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 442,358 |  |  | $ | — |  |  | $ | 442,358 |
Total |  | $ | 442,358 |  |  | $ | — |  |  | $ | 442,358 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Goldman Sachs & Co. |  | $ | 442,358 |  |  | $ | — |  |  | $ | — |  |  | $ | 442,358 |
Total |  | $ | 442,358 |  |  | $ | — |  |  | $ | — |  |  | $ | 442,358 |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares UltraShort Gold Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Forward agreements |  | $ | — |  |  | $ | — |  |  | $ | — |
Futures contracts* |  |  | 2,300 |  |  |  | — |  |  |  | 2,300 |
Total |  | $ | 2,300 |  |  | $ | — |  |  | $ | 2,300 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Goldman Sachs & Co. |  | $ | 2,300 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,300 |
Total |  | $ | 2,300 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,300 |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Forward agreements |  | $ | 3,246,282 |  |  | $ | — |  |  | $ | 3,246,282 |
Futures contracts* |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 3,246,282 |  |  | $ | — |  |  | $ | 3,246,282 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
Deutsche Bank AG |  | $ | 1,752,078 |  |  | $ | (1,752,078 | ) |  | $ | — |  |  | $ | — |
Goldman Sachs International |  |  | 589,404 |  |  |  | (589,404 | ) |  |  | — |  |  |  | — |
Societe Generale S.A. |  |  | 460,599 |  |  |  | (460,599 | ) |  |  | — |  |  |  | — |
UBS AG |  |  | 444,201 |  |  |  | (444,201 | ) |  |  | — |  |  |  | — |
Total |  | $ | 3,246,282 |  |  | $ | (3,246,282 | ) |  | $ | — |  |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares UltraShort Silver Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Forward agreements |  | $ | 266,601 |  |  | $ | — |  |  | $ | 266,601 |
Futures contracts* |  |  | 2,890 |  |  |  | — |  |  |  | 2,890 |
Total |  | $ | 269,491 |  |  | $ | — |  |  | $ | 269,491 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Goldman Sachs & Co. |  | $ | 2,890 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,890 |
Deutsche Bank AG |  |  | 55,643 |  |  |  | — |  |  |  | — |  |  |  | 55,643 |
Goldman Sachs International |  |  | 63,340 |  |  |  | — |  |  |  | — |  |  |  | 63,340 |
Societe Generale S.A. |  |  | 147,618 |  |  |  | — |  |  |  | — |  |  |  | 147,618 |
Total |  | $ | 269,491 |  |  | $ | — |  |  | $ | — |  |  | $ | 269,491 |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Forward agreements |  | $ | 11,313 |  |  | $ | — |  |  | $ | 11,313 |
Futures contracts* |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 11,313 |  |  | $ | — |  |  | $ | 11,313 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
UBS AG |  | $ | 11,313 |  |  | $ | (11,313 | ) |  | $ | — |  |  | $ | — |
Total |  | $ | 11,313 |  |  | $ | (11,313 | ) |  | $ | — |  |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares Short Euro Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 12,300 |  |  | $ | — |  |  | $ | 12,300 |
Total |  | $ | 12,300 |  |  | $ | — |  |  | $ | 12,300 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
RBC Capital Markets |  | $ | 12,300 |  |  | $ | — |  |  | $ | (12,300 | ) |  | $ | — |
Total |  | $ | 12,300 |  |  | $ | — |  |  | $ | (12,300 | ) |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares UltraShort Australian Dollar Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 21,300 |  |  | $ | — |  |  | $ | 21,300 |
Total |  | $ | 21,300 |  |  | $ | — |  |  | $ | 21,300 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
RBC Capital Markets |  | $ | 21,300 |  |  | $ | — |  |  | $ | — |  |  | $ | 21,300 |
Total |  | $ | 21,300 |  |  | $ | — |  |  | $ | — |  |  | $ | 21,300 |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShort UltraShort Euro Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Foreign currency forward contracts |  | $ | 15,104,660 |  |  | $ | — |  |  | $ | 15,104,660 |
Total |  | $ | 15,104,660 |  |  | $ | — |  |  | $ | 15,104,660 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Goldman Sachs International |  | $ | 7,182,101 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,182,101 |
UBS AG |  |  | 7,922,559 |  |  |  | — |  |  |  | — |  |  |  | 7,922,559 |
Total |  | $ | 15,104,660 |  |  | $ | — |  |  | $ | — |  |  | $ | 15,104,660 |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Foreign currency forward contracts |  | $ | 1,439,211 |  |  | $ | — |  |  | $ | 1,439,211 |
Total |  | $ | 1,439,211 |  |  | $ | — |  |  | $ | 1,439,211 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
Goldman Sachs International |  | $ | 930,513 |  |  | $ | (930,513 | ) |  | $ | — |  |  | $ | — |
UBS AG |  |  | 508,698 |  |  |  | (508,698 | ) |  |  | — |  |  |  | — |
Total |  | $ | 1,439,211 |  |  | $ | (1,439,211 | ) |  | $ | — |  |  | $ | — |
ProShares UltraShort Yen Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Foreign currency forward contracts |  | $ | 2,732,626 |  |  | $ | — |  |  | $ | 2,732,626 |
Total |  | $ | 2,732,626 |  |  | $ | — |  |  | $ | 2,732,626 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Goldman Sachs International |  | $ | 1,222,105 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,222,105 |
UBS AG |  |  | 1,510,521 |  |  |  | — |  |  |  | — |  |  |  | 1,510,521 |
Total |  | $ | 2,732,626 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,732,626 |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Foreign currency forward contracts |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
ProShares Ultra DJ-UBS Commodity Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Swap agreements |  | $ | 115,047 |  |  | $ | — |  |  | $ | 115,047 |
Total |  | $ | 115,047 |  |  | $ | — |  |  | $ | 115,047 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Goldman Sachs International |  | $ | 63,644 |  |  | $ | — |  |  | $ | — |  |  | $ | 63,644 |
UBS AG |  |  | 51,403 |  |  |  | — |  |  |  | — |  |  |  | 51,403 |
Total |  | $ | 115,047 |  |  | $ | — |  |  | $ | — |  |  | $ | 115,047 |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Swap agreements |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
ProShares Ultra DJ-UBS Crude Oil Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 2,386,303 |  |  | $ | — |  |  | $ | 2,386,303 |
Swap agreements |  |  | 25,193,571 |  |  |  | — |  |  |  | 25,193,571 |
Total |  | $ | 27,579,874 |  |  | $ | — |  |  | $ | 27,579,874 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Goldman Sachs & Co. |  | $ | 2,386,303 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,386,303 |
Goldman Sachs International |  |  | 8,318,017 |  |  |  | — |  |  |  | — |  |  |  | 8,318,017 |
Societe Generale S.A. |  |  | 4,601,585 |  |  |  | — |  |  |  | — |  |  |  | 4,601,585 |
UBS AG |  |  | 12,273,969 |  |  |  | — |  |  |  | — |  |  |  | 12,273,969 |
Total |  | $ | 27,579,874 |  |  | $ | — |  |  | $ | — |  |  | $ | 27,579,874 |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Swap agreements |  |  | — |  |  |  |  |  |  |  | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares Ultra DJ-UBS Natural Gas Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 834,689 |  |  | $ | — |  |  | $ | 834,689 |
Total |  | $ | 834,689 |  |  | $ | — |  |  | $ | 834,689 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
Goldman Sachs & Co. |  | $ | 834,689 |  |  | $ | — |  |  | $ | (834,689 | ) |  | $ | — |
Total |  | $ | 834,689 |  |  | $ | — |  |  | $ | (834,689 | ) |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares Ultra Gold Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Forward agreements |  | $ | 9,222,440 |  |  | $ | — |  |  | $ | 9,222,440 |
Futures contracts* |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 9,222,440 |  |  |  | — |  |  | $ | 9,222,440 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Deutsche Bank AG |  | $ | 4,465,287 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,465,287 |
Goldman Sachs International |  |  | 1,574,862 |  |  |  | — |  |  |  | — |  |  |  | 1,574,862 |
Societe Generale S.A. |  |  | 1,671,035 |  |  |  | — |  |  |  | — |  |  |  | 1,671,035 |
UBS AG |  |  | 1,511,256 |  |  |  | — |  |  |  | — |  |  |  | 1,511,256 |
Total |  | $ | 9,222,440 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,222,440 |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Forward agreements |  | $ | — |  |  | $ | — |  |  | $ | — |
Futures contracts* |  |  | 2,300 |  |  |  | — |  |  |  | 2,300 |
Total |  | $ | 2,300 |  |  | $ | — |  |  | $ | 2,300 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
Goldman Sachs & Co. |  | $ | 2,300 |  |  | $ | — |  |  | $ | (2,300 | ) |  | $ | — |
Total |  | $ | 2,300 |  |  | $ | — |  |  | $ | (2,300 | ) |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares Ultra Silver Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Forward agreements |  | $ | — |  |  | $ | — |  |  | $ | — |
Futures contracts* |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Forward agreements |  | $ | 8,106,718 |  |  | $ | — |  |  | $ | 8,106,718 |
Futures contracts* |  |  | 2,890 |  |  |  | — |  |  |  | 2,890 |
Total |  | $ | 8,109,608 |  |  | $ | — |  |  | $ | 8,109,608 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
Goldman Sachs & Co. |  | $ | 2,890 |  |  | $ | — |  |  | $ | (2,890 | ) |  | $ | — |
Deutsche Bank AG |  |  | 4,807,077 |  |  |  | (4,807,077 | ) |  |  | — |  |  |  | — |
Goldman Sachs International |  |  | 1,237,902 |  |  |  | (1,237,902 | ) |  |  | — |  |  |  | — |
Societe Generale S.A. |  |  | 1,056,353 |  |  |  | (1,056,353 | ) |  |  | — |  |  |  | — |
UBS AG |  |  | 1,005,386 |  |  |  | (1,005,386 | ) |  |  | — |  |  |  | — |
Total |  | $ | 8,109,608 |  |  | $ | (8,106,718 | ) |  | $ | (2,890 | ) |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares Ultra Australian Dollar Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 22,982 |  |  | $ | — |  |  | $ | 22,982 |
Total |  | $ | 22,982 |  |  | $ | — |  |  | $ | 22,982 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
RBC Capital Markets |  | $ | 22,982 |  |  | $ | — |  |  | $ | (22,982 | ) |  | $ | — |
Total |  | $ | 22,982 |  |  | $ | — |  |  | $ | (22,982 | ) |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares Ultra Euro Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Foreign currency forward contracts |  | $ | 3,138 |  |  | $ | — |  |  | $ | 3,138 |
Total |  | $ | 3,138 |  |  | $ | — |  |  | $ | 3,138 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Goldman Sachs International |  | $ | 737 |  |  | $ | — |  |  | $ | — |  |  | $ | 737 |
UBS AG |  |  | 2,401 |  |  |  | — |  |  |  | — |  |  |  | 2,401 |
Total |  | $ | 3,138 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,138 |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Foreign currency forward contracts |  | $ | 137,134 |  |  | $ | — |  |  | $ | 137,134 |
Total |  | $ | 137,134 |  |  | $ | — |  |  | $ | 137,134 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
Goldman Sachs International |  | $ | 63,478 |  |  | $ | (63,478 | ) |  | $ | — |  |  | $ | — |
UBS AG |  |  | 73,656 |  |  |  | (73,656 | ) |  |  | — |  |  |  | — |
Total |  | $ | 137,134 |  |  | $ | (137,134 | ) |  | $ | — |  |  | $ | — |
ProShares Ultra Yen Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Foreign currency forward contracts |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Foreign currency forward contracts |  | $ | 70,562 |  |  | $ | — |  |  | $ | 70,562 |
Total |  | $ | 70,562 |  |  | $ | — |  |  | $ | 70,562 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
Goldman Sachs International |  | $ | 22,860 |  |  | $ | (22,860 | ) |  | $ | — |  |  | $ | — |
UBS AG |  |  | 47,702 |  |  |  | (47,702 | ) |  |  | — |  |  |  | — |
Total |  | $ | 70,562 |  |  | $ | (70,562 | ) |  | $ | — |  |  | $ | — |
ProShares VIX Short-Term Futures ETF Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 2,471,348 |  |  | $ | — |  |  | $ | 2,471,348 |
Total |  | $ | 2,471,348 |  |  | $ | — |  |  | $ | 2,471,348 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
RBC Capital Markets |  | $ | 2,471,348 |  |  | $ | — |  |  | $ | (2,471,348 | ) |  | $ | — |
Total |  | $ | 2,471,348 |  |  | $ | — |  |  | $ | (2,471,348 | ) |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares VIX Mid-Term Futures ETF Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 211,350 |  |  | $ | — |  |  | $ | 211,350 |
Total |  | $ | 211,350 |  |  | $ | — |  |  | $ | 211,350 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
RBC Capital Markets |  | $ | 211,350 |  |  | $ | — |  |  | $ | — |  |  | $ | 211,350 |
Total |  | $ | 211,350 |  |  | $ | — |  |  | $ | — |  |  | $ | 211,350 |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares Ultra VIX Short-Term Futures ETF Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 4,961,933 |  |  | $ | — |  |  | $ | 4,961,933 |
Total |  | $ | 4,961,933 |  |  | $ | — |  |  | $ | 4,961,933 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
RBC Capital Markets |  | $ | 4,961,933 |  |  | $ | — |  |  | $ | (4,961,933 | ) |  | $ | — |
Total |  | $ | 4,961,933 |  |  | $ | — |  |  | $ | (4,961,933 | ) |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares Short VIX Short-Term Futures ETF Offsetting of Financial Assets and Derivative Assets as of March 31, 2013:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 472,022 |  |  | $ | — |  |  | $ | 472,022 |
Total |  | $ | 472,022 |  |  | $ | — |  |  | $ | 472,022 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
RBC Capital Markets |  | $ | 472,022 |  |  | $ | — |  |  | $ | — |  |  | $ | 472,022 |
Total |  | $ | 472,022 |  |  | $ | — |  |  | $ | — |  |  | $ | 472,022 |
Offsetting of Financial Liabilities and Derivative Liabilities as of March 31, 2013:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of March 31, 2013:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares UltraShort DJ-UBS Commodity Offsetting of Financial Assets and Derivative Assets as of December 31, 2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Swap agreements |  | $ | 148,502 |  |  | $ | — |  |  | $ | 148,502 |
Total |  | $ | 148,502 |  |  | $ | — |  |  | $ | 148,502 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Goldman Sachs International |  | $ | 104,181 |  |  | $ | — |  |  | $ | — |  |  | $ | 104,181 |
UBS AG |  |  | 44,321 |  |  |  | — |  |  |  | — |  |  |  | 44,321 |
Total |  | $ | 148,502 |  |  | $ | — |  |  | $ | — |  |  | $ | 148,502 |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Swap agreements |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
ProShares UltraShort DJ-UBS Crude Oil Offsetting of Financial Assets and Derivative Assets as of December 31, 2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Swap agreements |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 979,336 |  |  | $ | — |  |  | $ | 979,336 |
Swap agreements |  |  | 5,607,060 |  |  |  | — |  |  |  | 5,607,060 |
Total |  | $ | 6,586,396 |  |  | $ | — |  |  | $ | 6,586,396 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
Goldman Sachs & Co. |  | $ | 979,336 |  |  | $ | — |  |  | $ | (979,336 | ) |  | $ | — |
Goldman Sachs International |  |  | 1,880,292 |  |  |  | (1,880,292 | ) |  |  | — |  |  |  | — |
Societe Generale S.A. |  |  | 1,730,366 |  |  |  | (1,730,366 | ) |  |  | — |  |  |  | — |
UBS AG |  |  | 1,996,402 |  |  |  | (1,996,402 | ) |  |  | — |  |  |  | — |
Total |  | $ | 6,586,396 |  |  | $ | (5,607,060 | ) |  | $ | (979,336 | ) |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares UltraShort DJ-UBS Natural Gas Offsetting of Financial Assets and Derivative Assets as of December 31, 2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 632,777 |  |  | $ | — |  |  | $ | 632,777 |
Total |  | $ | 632,777 |  |  | $ | — |  |  | $ | 632,777 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Goldman Sachs & Co. |  | $ | 632,777 |  |  | $ | — |  |  | $ | — |  |  | $ | 632,777 |
Total |  | $ | 632,777 |  |  | $ | — |  |  | $ | — |  |  | $ | 632,777 |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares UltraShort Gold Offsetting of Financial Assets and Derivative Assets as of December 31, 2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Forward agreements |  | $ | 3,729,856 |  |  | $ | — |  |  | $ | 3,729,856 |
Futures contracts* |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 3,729,856 |  |  | $ | — |  |  | $ | 3,729,856 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Deutsche Bank AG |  | $ | 2,389,236 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,389,236 |
Goldman Sachs International |  |  | 452,059 |  |  |  | — |  |  |  | — |  |  |  | 452,059 |
Societe Generale S.A. |  |  | 499,264 |  |  |  | — |  |  |  | — |  |  |  | 499,264 |
UBS AG |  |  | 389,297 |  |  |  | — |  |  |  | — |  |  |  | 389,297 |
Total |  | $ | 3,729,856 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,729,856 |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Forward agreements |  | $ | — |  |  | $ | — |  |  | $ | — |
Futures contracts* |  |  | 3,980 |  |  |  | — |  |  |  | 3,980 |
Total |  | $ | 3,980 |  |  | $ | — |  |  | $ | 3,980 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
Goldman Sachs & Co. |  | $ | 3,980 |  |  | $ | — |  |  | $ | (3,980 | ) |  | $ | — |
Total |  | $ | 3,980 |  |  | $ | — |  |  | $ | (3,980 | ) |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares UltraShort Silver Offsetting of Financial Assets and Derivative Assets as of December 31, 2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Forward agreements |  | $ | 19,307,685 |  |  | $ | — |  |  | $ | 19,307,685 |
Futures contracts* |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 19,307,685 |  |  | $ | — |  |  | $ | 19,307,685 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Deutsche Bank AG |  | $ | 10,786,801 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,786,801 |
Goldman Sachs International |  |  | 3,141,119 |  |  |  | — |  |  |  | — |  |  |  | 3,141,119 |
Societe Generale S.A. |  |  | 3,255,649 |  |  |  | — |  |  |  | — |  |  |  | 3,255,649 |
UBS AG |  |  | 2,124,116 |  |  |  | — |  |  |  | — |  |  |  | 2,124,116 |
Total |  | $ | 19,307,685 |  |  | $ | — |  |  | $ | — |  |  | $ | 19,307,685 |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Forward agreements |  | $ | — |  |  | $ | — |  |  | $ | — |
Futures contracts* |  |  | 2,520 |  |  |  | — |  |  |  | 2,520 |
Total |  | $ | 2,520 |  |  | $ | — |  |  | $ | 2,520 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
Goldman Sachs & Co. |  | $ | 2,520 |  |  | $ | — |  |  | $ | (2,520 | ) |  | $ | — |
Total |  | $ | 2,520 |  |  | $ | — |  |  | $ | (2,520 | ) |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares Short Euro Offsetting of Financial Assets and Derivative Assets as of December 31, 2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 6,612 |  |  | $ | — |  |  | $ | 6,612 |
Total |  | $ | 6,612 |  |  | $ | — |  |  | $ | 6,612 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
RBC Capital Markets |  | $ | 6,612 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,612 |
Total |  | $ | 6,612 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,612 |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares UltraShort Australian Dollar Offsetting of Financial Assets and Derivative Assets as of December 31,2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31,2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31,2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 10,950 |  |  | $ | — |  |  | $ | 10,950 |
Total |  | $ | 10,950 |  |  | $ | — |  |  | $ | 10,950 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31,2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
RBC Capital Markets |  | $ | 10,950 |  |  | $ | — |  |  | $ | (10,950 | ) |  | $ | — |
Total |  | $ | 10,950 |  |  | $ | — |  |  | $ | (10,950 | ) |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares UltraShort Euro Offsetting of Financial Assets and Derivative Assets as of December 31, 2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Foreign currency forward contracts |  | $ | 251,047 |  |  | $ | — |  |  | $ | 251,047 |
Total |  | $ | 251,047 |  |  | $ | — |  |  | $ | 251,047 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Goldman Sachs International |  | $ | 251,047 |  |  | $ | — |  |  | $ | — |  |  | $ | 251,047 |
Total |  | $ | 251,047 |  |  | $ | — |  |  | $ | — |  |  | $ | 251,047 |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Foreign currency forward contracts |  | $ | 13,398,619 |  |  | $ | — |  |  | $ | 13,398,619 |
Total |  | $ | 13,398,619 |  |  | $ | — |  |  | $ | 13,398,619 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
Goldman Sachs International |  | $ | 6,048,832 |  |  | $ | (6,048,832 | ) |  | $ | — |  |  | $ | — |
UBS AG |  |  | 7,349,787 |  |  |  | (7,349,787 | ) |  |  | — |  |  |  | — |
Total |  | $ | 13,398,619 |  |  | $ | (13,398,619 | ) |  | $ | — |  |  | $ | — |
ProShares UltraShort Yen Offsetting of Financial Assets and Derivative Assets as of December 31, 2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Foreign currency forward contracts |  | $ | 38,346,817 |  |  | $ | — |  |  | $ | 38,346,817 |
Total |  | $ | 38,346,817 |  |  | $ | — |  |  | $ | 38,346,817 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Goldman Sachs International |  | $ | 18,518,532 |  |  | $ | — |  |  | $ | — |  |  | $ | 18,518,532 |
UBS AG |  |  | 19,828,285 |  |  |  | — |  |  |  | — |  |  |  | 19,828,285 |
Total |  | $ | 38,346,817 |  |  | $ | — |  |  | $ | — |  |  | $ | 38,346,817 |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Foreign currency forward contracts |  | $ | 232,642 |  |  | $ | — |  |  | $ | 232,642 |
Total |  | $ | 232,642 |  |  | $ | — |  |  | $ | 232,642 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
UBS AG |  | $ | 232,642 |  |  | $ | (232,642 | ) |  | $ | — |  |  | $ | — |
Total |  | $ | 232,642 |  |  | $ | (232,642 | ) |  | $ | — |  |  | $ | — |
ProShares Ultra DJ-UBS Commodity Offsetting of Financial Assets and Derivative Assets as of December 31, 2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Swap agreements |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Swap agreements |  | $ | 306,268 |  |  | $ | — |  |  | $ | 306,268 |
Total |  | $ | 306,268 |  |  | $ | — |  |  | $ | 306,268 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
Goldman Sachs International |  | $ | 198,117 |  |  | $ | (198,117 | ) |  | $ | — |  |  | $ | — |
UBS AG |  |  | 108,151 |  |  |  | (108,151 | ) |  |  | — |  |  |  | — |
Total |  | $ | 306,268 |  |  | $ | (306,268 | ) |  | $ | — |  |  | $ | — |
ProShares Ultra DJ-UBS Crude Oil Offsetting of Financial Assets and Derivative Assets as of December 31, 2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 3,430,415 |  |  | $ | — |  |  | $ | 3,430,415 |
Swap agreements |  |  | 33,333,620 |  |  |  | — |  |  |  | 33,333,620 |
Total |  | $ | 36,764,035 |  |  | $ | — |  |  | $ | 36,764,035 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Goldman Sachs & Co. |  | $ | 3,430,415 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,430,415 |
Goldman Sachs International |  |  | 14,334,730 |  |  |  | — |  |  |  | — |  |  |  | 14,334,730 |
Societe Generale S.A. |  |  | 8,989,866 |  |  |  | — |  |  |  | — |  |  |  | 8,989,866 |
UBS AG |  |  | 10,009,024 |  |  |  | — |  |  |  | — |  |  |  | 10,009,024 |
Total |  | $ | 36,764,035 |  |  | $ | — |  |  | $ | — |  |  | $ | 36,764,035 |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Swap agreements |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares Ultra DJ-UBS Natural Gas Offsetting of Financial Assets and Derivative Assets as of December 31, 2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 4,891,783 |  |  | $ | — |  |  | $ | 4,891,783 |
Total |  | $ | 4,891,783 |  |  | $ | — |  |  | $ | 4,891,783 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
Goldman Sachs & Co. |  | $ | 4,891,783 |  |  | $ | — |  |  | $ | (4,891,783 | ) |  | $ | — |
Total |  | $ | 4,891,783 |  |  | $ | — |  |  | $ | (4,891,783 | ) |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares Ultra Gold Offsetting of Financial Assets and Derivative Assets as of December 31, 2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Forward agreements |  | $ | — |  |  | $ | — |  |  | $ | — |
Futures contracts* |  |  | 3,980 |  |  |  | — |  |  |  | 3,980 |
Total |  | $ | 3,980 |  |  | $ | — |  |  | $ | 3,980 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Goldman Sachs & Co. |  | $ | 3,980 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,980 |
Total |  | $ | 3,980 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,980 |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Forward agreements |  | $ | 15,652,058 |  |  | $ | — |  |  | $ | 15,652,058 |
Futures contracts* |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 15,652,058 |  |  | $ | — |  |  | $ | 15,652,058 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
Deutsche Bank AG |  | $ | 4,622,873 |  |  | $ | (4,622,873 | ) |  | $ | — |  |  | $ | — |
Goldman Sachs International |  |  | 3,678,367 |  |  |  | (3,678,367 | ) |  |  | — |  |  |  | — |
Societe Generale S.A. |  |  | 3,715,989 |  |  |  | (3,715,989 | ) |  |  | — |  |  |  | — |
UBS AG |  |  | 3,634,829 |  |  |  | (3,634,829 | ) |  |  | — |  |  |  | — |
Total |  | $ | 15,652,058 |  |  | $ | (15,652,058 | ) |  | $ | — |  |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares Ultra Silver Offsetting of Financial Assets and Derivative Assets as of December 31, 2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Forward agreements |  | $ | — |  |  | $ | — |  |  | $ | — |
Futures contracts* |  |  | 2,520 |  |  |  | — |  |  |  | 2,520 |
Total |  | $ | 2,520 |  |  | $ | — |  |  | $ | 2,520 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Goldman Sachs & Co. |  | $ | 2,520 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,520 |
Total |  | $ | 2,520 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,520 |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Forward agreements |  | $ | 145,740,706 |  |  | $ | — |  |  | $ | 145,740,706 |
Futures contracts* |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 145,740,706 |  |  | $ | — |  |  | $ | 145,740,706 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
Deutsche Bank AG |  | $ | 44,873,116 |  |  | $ | (42,756,218 | ) |  | $ | — |  |  | $ | 2,116,898 |
Goldman Sachs International |  |  | 34,491,042 |  |  |  | (34,491,042 | ) |  |  | — |  |  |  | — |
Societe Generale S.A. |  |  | 34,802,217 |  |  |  | (34,802,217 | ) |  |  | — |  |  |  | — |
UBS AG |  |  | 31,574,331 |  |  |  | (31,574,331 | ) |  |  | — |  |  |  | — |
Total |  | $ | 145,740,706 |  |  | $ | (143,623,808 | ) |  | $ | — |  |  | $ | 2,116,898 |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares Ultra Australian Dollar Offsetting of Financial Assets and Derivative Assets as of December 31, 2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 12,000 |  |  | $ | — |  |  | $ | 12,000 |
Total |  | $ | 12,000 |  |  | $ | — |  |  | $ | 12,000 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
RBC Capital Markets |  | $ | 12,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 12,000 |
Total |  | $ | 12,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 12,000 |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares Ultra Euro Offsetting of Financial Assets and Derivative Assets as of December 31, 2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Foreign currency forward contracts |  | $ | 89,473 |  |  | $ | — |  |  | $ | 89,473 |
Total |  | $ | 89,473 |  |  | $ | — |  |  | $ | 89,473 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Goldman Sachs International |  | $ | 38,327 |  |  | $ | — |  |  | $ | — |  |  | $ | 38,327 |
UBS AG |  |  | 51,146 |  |  |  | — |  |  |  | — |  |  |  | 51,146 |
Total |  | $ | 89,473 |  |  | $ | — |  |  | $ | — |  |  | $ | 89,473 |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Foreign currency forward contracts |  | $ | 2,314 |  |  | $ | — |  |  | $ | 2,314 |
Total |  | $ | 2,314 |  |  | $ | — |  |  | $ | 2,314 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
Goldman Sachs International |  | $ | 635 |  |  | $ | (635 | ) |  | $ | — |  |  | $ | — |
UBS AG |  |  | 1,679 |  |  |  | (1,679 | ) |  |  | — |  |  |  | — |
Total |  | $ | 2,314 |  |  | $ | (2,314 | ) |  | $ | — |  |  | $ | — |
ProShares Ultra Yen Offsetting of Financial Assets and Derivative Assets as of December 31, 2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Foreign currency forward contracts |  | $ | 13,523 |  |  | $ | — |  |  | $ | 13,523 |
Total |  | $ | 13,523 |  |  | $ | — |  |  | $ | 13,523 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Goldman Sachs International |  | $ | 7,325 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,325 |
UBS AG |  |  | 6,198 |  |  |  | — |  |  |  | — |  |  |  | 6,198 |
Total |  | $ | 13,523 |  |  | $ | — |  |  | $ | — |  |  | $ | 13,523 |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Foreign currency forward contracts |  | $ | 507,819 |  |  | $ | — |  |  | $ | 507,819 |
Total |  | $ | 507,819 |  |  | $ | — |  |  | $ | 507,819 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
Goldman Sachs International |  | $ | 231,047 |  |  | $ | (231,047 | ) |  | $ | — |  |  | $ | — |
UBS AG |  |  | 276,772 |  |  |  | (178,999 | ) |  |  | — |  |  |  | 97,773 |
Total |  | $ | 507,819 |  |  | $ | (410,046 | ) |  | $ | — |  |  | $ | 97,773 |
ProShares VIX Short-Term Futures ETF Offsetting of Financial Assets and Derivative Assets as of December 31, 2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 31,540,181 |  |  | $ | — |  |  | $ | 31,540,181 |
Total |  | $ | 31,540,181 |  |  | $ | — |  |  | $ | 31,540,181 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
RBC Capital Markets |  | $ | 31,540,181 |  |  | $ | — |  |  | $ | (31,540,181 | ) |  | $ | — |
Total |  | $ | 31,540,181 |  |  | $ | — |  |  | $ | (31,540,181 | ) |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares VIX Mid-Term Futures ETF Offsetting of Financial Assets and Derivative Assets as of December 31, 2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 1,890,675 |  |  | $ | — |  |  | $ | 1,890,675 |
Total |  | $ | 1,890,675 |  |  | $ | — |  |  | $ | 1,890,675 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
RBC Capital Markets |  | $ | 1,890,675 |  |  | $ | — |  |  | $ | (1,890,675 | ) |  | $ | — |
Total |  | $ | 1,890,675 |  |  | $ | — |  |  | $ | (1,890,675 | ) |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares Ultra VIX Short-Term Futures ETF Offsetting of Financial Assets and Derivative Assets as of December 31, 2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Swap agreements |  |  | 301,351 |  |  |  | — |  |  |  | 301,351 |
Total |  | $ | 301,351 |  |  | $ | — |  |  | $ | 301,351 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Societe Generale S.A. |  | $ | 301,351 |  |  | $ | — |  |  | $ | — |  |  | $ | 301,351 |
Total |  | $ | 301,351 |  |  | $ | — |  |  | $ | — |  |  | $ | 301,351 |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 35,666,735 |  |  | $ | — |  |  | $ | 35,666,735 |
Swap agreements |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 35,666,735 |  |  | $ | — |  |  | $ | 35,666,735 |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
RBC Capital Markets |  | $ | 35,666,735 |  |  | $ | — |  |  | $ | (35,666,735 | ) |  | $ | — |
Total |  | $ | 35,666,735 |  |  | $ | — |  |  | $ | (35,666,735 | ) |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.
ProShares Short VIX Short-Term Futures ETF Offsetting of Financial Assets and Derivative Assets as of December 31, 2012:
Assets |  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Assets Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | 5,524,721 |  |  | $ | — |  |  | $ | 5,524,721 |
Total |  | $ | 5,524,721 |  |  | $ | — |  |  | $ | 5,524,721 |
Financial Assets, Derivative Assets, and Collateral Held by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Assets Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
RBC Capital Markets |  | $ | 5,524,721 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,524,721 |
Total |  | $ | 5,524,721 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,524,721 |
Offsetting of Financial Liabilities and Derivative Liabilities as of December 31, 2012:
Liabilities |  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Condition |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |
Futures contracts* |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |
Financial Liabilities, Derivative Liabilities, and Collateral Pledged by Counterparty as of December 31, 2012:
|  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |  |  |  |
|  | Net Amounts of Liabilities Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral Pledged |  |  | Net Amount |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
* | Current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures contracts; Cumulative appreciation/depreciation is reported in the Schedule of Investments.

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27405-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 3, 19, 20, 21, 22, 137 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27232-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563 + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration