<?xml version="1.0" encoding="US-ASCII"?>
<!-- RR Donnelley Xcelerate Taxonomy Labels Linkbase, based on XBRL 2.1  http://www.rrdonnelley.com/ -->
<!-- Version: 6.21.0 -->
<!-- Round: 7 -->
<!-- Creation date: 2014-05-12T14:28:19Z -->
<!-- Copyright (c) 2005-2013 R.R. Donnelley & Sons Company All Rights Reserved. -->
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_CeilingForFeePaidToAdministrativeAndLegalFacilitators_lbl" xml:lang="en-US" id="id_4744066_1001842_3_1">Ceiling for fee paid to administrative and legal facilitators.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_CeilingForFeePaidToAdministrativeAndLegalFacilitators_lbl" xml:lang="en-US" id="id_4744066_1001842_1_1">Ceiling For Fee Paid To Administrative And Legal Facilitators</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_CeilingForFeePaidToAdministrativeAndLegalFacilitators_lbl" xml:lang="en-US" id="id_4744066_1001842_2_1">Ceiling for legal fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_CeilingForFeePaidToAdministrativeAndLegalFacilitators" xlink:to="ck0001415311_CeilingForFeePaidToAdministrativeAndLegalFacilitators_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_CeilingForPreparationAndMailingFee" xlink:label="ck0001415311_CeilingForPreparationAndMailingFee"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_CeilingForPreparationAndMailingFee_lbl" xml:lang="en-US" id="id_4744066_1047303_3_1">Ceiling for preparation and mailing fee of K-1.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_CeilingForPreparationAndMailingFee_lbl" xml:lang="en-US" id="id_4744066_1047303_1_1">Ceiling For Preparation And Mailing Fee</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_CeilingForPreparationAndMailingFee_lbl" xml:lang="en-US" id="id_4744066_1047303_2_1">Ceiling for per annum K-1 preparation and mailing fees against annual NAV</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_CeilingForPreparationAndMailingFee" xlink:to="ck0001415311_CeilingForPreparationAndMailingFee_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ChangeInNetAssetValueFromOperationsPerShare" xlink:label="ck0001415311_ChangeInNetAssetValueFromOperationsPerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ChangeInNetAssetValueFromOperationsPerShare_lbl" xml:lang="en-US" id="id_4744066_1022704_3_1">Change in net asset value from operations, per share.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ChangeInNetAssetValueFromOperationsPerShare_lbl" xml:lang="en-US" id="id_4744066_1022704_1_1">Change In Net Asset Value From Operations Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ck0001415311_ChangeInNetAssetValueFromOperationsPerShare_lbl" xml:lang="en-US" id="id_4744066_1022704_6_1">Change in net asset value from operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ChangeInNetAssetValueFromOperationsPerShare" xlink:to="ck0001415311_ChangeInNetAssetValueFromOperationsPerShare_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ChangeInNetUnrealizedAppreciationDepreciation" xlink:label="ck0001415311_ChangeInNetUnrealizedAppreciationDepreciation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ChangeInNetUnrealizedAppreciationDepreciation_lbl" xml:lang="en-US" id="id_4744066_989628_3_1">Change in net unrealized appreciation depreciation.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ChangeInNetUnrealizedAppreciationDepreciation_lbl" xml:lang="en-US" id="id_4744066_989628_1_1">Change In Net Unrealized Appreciation Depreciation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ck0001415311_ChangeInNetUnrealizedAppreciationDepreciation_lbl" xml:lang="en-US" id="id_4744066_989628_14_1">Change in unrealized appreciation/depreciation on investments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ChangeInNetUnrealizedAppreciationDepreciation" xlink:to="ck0001415311_ChangeInNetUnrealizedAppreciationDepreciation_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ChangeInUnrealizedAppreciationDepreciationOnDerivativesRecognizedInIncome" xlink:label="ck0001415311_ChangeInUnrealizedAppreciationDepreciationOnDerivativesRecognizedInIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ChangeInUnrealizedAppreciationDepreciationOnDerivativesRecognizedInIncome_lbl" xml:lang="en-US" id="id_4744066_1035185_3_1">Change in unrealized appreciation/ depreciation on derivatives recognized in income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ChangeInUnrealizedAppreciationDepreciationOnDerivativesRecognizedInIncome_lbl" xml:lang="en-US" id="id_4744066_1035185_1_1">Change In Unrealized Appreciation Depreciation On Derivatives Recognized In Income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ChangeInUnrealizedAppreciationDepreciationOnDerivativesRecognizedInIncome_lbl" xml:lang="en-US" id="id_4744066_1035185_2_1">Change in Unrealized Appreciation or Depreciation on Derivatives Recognized in Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ChangeInUnrealizedAppreciationDepreciationOnDerivativesRecognizedInIncome" xlink:to="ck0001415311_ChangeInUnrealizedAppreciationDepreciationOnDerivativesRecognizedInIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_CommitmentToDeliverReceive" xlink:label="ck0001415311_CommitmentToDeliverReceive"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_CommitmentToDeliverReceive_lbl" xml:lang="en-US" id="id_4744066_1073979_3_1">Commitment to deliver)/ receive.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_CommitmentToDeliverReceive_lbl" xml:lang="en-US" id="id_4744066_1073979_1_1">Commitment To Deliver Receive</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_CommitmentToDeliverReceive_lbl" xml:lang="en-US" id="id_4744066_1073979_2_1">Commitment to (Deliver)/Receive</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_CommitmentToDeliverReceive" xlink:to="ck0001415311_CommitmentToDeliverReceive_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommodityContractMember" xlink:label="us-gaap_CommodityContractMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommodityContractMember_lbl" xml:lang="en-US" id="id_4744066_926155_1_1">Commodity Contract [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommodityContractMember_lbl" xml:lang="en-US" id="id_4744066_926155_2_1">Commodity Contracts [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommodityContractMember" xlink:to="us-gaap_CommodityContractMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US" id="id_4744066_923588_1_1">Common Stock Shares Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US" id="id_4744066_923588_2_1">Shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl" xml:lang="en-US" id="id_4744066_926312_1_1">Concentration Risk Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl" xml:lang="en-US" id="id_4744066_926312_2_1">Risk</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:to="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ContractsToPurchaseMember" xlink:label="ck0001415311_ContractsToPurchaseMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ContractsToPurchaseMember_lbl" xml:lang="en-US" id="id_4744066_971874_3_1">Contracts to purchase.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ContractsToPurchaseMember_lbl" xml:lang="en-US" id="id_4744066_971874_1_1">Contracts To Purchase [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ContractsToPurchaseMember_lbl" xml:lang="en-US" id="id_4744066_971874_2_1">Contracts to Purchase [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ContractsToPurchaseMember" xlink:to="ck0001415311_ContractsToPurchaseMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ContractsToSellMember" xlink:label="ck0001415311_ContractsToSellMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ContractsToSellMember_lbl" xml:lang="en-US" id="id_4744066_1057436_3_1">Contracts to sell.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ContractsToSellMember_lbl" xml:lang="en-US" id="id_4744066_1057436_1_1">Contracts To Sell [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ContractsToSellMember_lbl" xml:lang="en-US" id="id_4744066_1057436_2_1">Contracts to Sell [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ContractsToSellMember" xlink:to="ck0001415311_ContractsToSellMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_CreationAndRedemptionOfCreationUnitsLineItems" xlink:label="ck0001415311_CreationAndRedemptionOfCreationUnitsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_CreationAndRedemptionOfCreationUnitsLineItems_lbl" xml:lang="en-US" id="id_4744066_1079096_3_1">Creation and redemption of creation units.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_CreationAndRedemptionOfCreationUnitsLineItems_lbl" xml:lang="en-US" id="id_4744066_1079096_1_1">Creation And Redemption Of Creation Units [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_CreationAndRedemptionOfCreationUnitsLineItems_lbl" xml:lang="en-US" id="id_4744066_1079096_2_1">Creation And Redemption Of Creation Units [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_CreationAndRedemptionOfCreationUnitsLineItems" xlink:to="ck0001415311_CreationAndRedemptionOfCreationUnitsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_CreationAndRedemptionOfCreationUnitsTable" xlink:label="ck0001415311_CreationAndRedemptionOfCreationUnitsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_CreationAndRedemptionOfCreationUnitsTable_lbl" xml:lang="en-US" id="id_4744066_1089945_3_1">Creation and redemption of creation units.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_CreationAndRedemptionOfCreationUnitsTable_lbl" xml:lang="en-US" id="id_4744066_1089945_1_1">Creation And Redemption Of Creation Units [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_CreationAndRedemptionOfCreationUnitsTable_lbl" xml:lang="en-US" id="id_4744066_1089945_2_1">Creation And Redemption Of Creation Units [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_CreationAndRedemptionOfCreationUnitsTable" xlink:to="ck0001415311_CreationAndRedemptionOfCreationUnitsTable_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_CreationAndRedemptionOfCreationUnitsTextBlock" xlink:label="ck0001415311_CreationAndRedemptionOfCreationUnitsTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_CreationAndRedemptionOfCreationUnitsTextBlock_lbl" xml:lang="en-US" id="id_4744066_973103_3_1">Creation and redemption of creation units.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_CreationAndRedemptionOfCreationUnitsTextBlock_lbl" xml:lang="en-US" id="id_4744066_973103_1_1">Creation And Redemption Of Creation Units [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_CreationAndRedemptionOfCreationUnitsTextBlock_lbl" xml:lang="en-US" id="id_4744066_973103_2_1">Creation and Redemption of Creation Units</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_CreationAndRedemptionOfCreationUnitsTextBlock" xlink:to="ck0001415311_CreationAndRedemptionOfCreationUnitsTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_CreationUnitBlockSharesOfFund" xlink:label="ck0001415311_CreationUnitBlockSharesOfFund"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_CreationUnitBlockSharesOfFund_lbl" xml:lang="en-US" id="id_4744066_970593_3_1">Creation unit, block shares of a fund.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_CreationUnitBlockSharesOfFund_lbl" xml:lang="en-US" id="id_4744066_970593_1_1">Creation Unit Block Shares Of Fund</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_CreationUnitBlockSharesOfFund_lbl" xml:lang="en-US" id="id_4744066_970593_2_1">Creation Unit, block Shares of a Fund</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_CreationUnitBlockSharesOfFund" xlink:to="ck0001415311_CreationUnitBlockSharesOfFund_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_CrudeOilNymexExpiresMayTwoThousandAndFourteenMember" xlink:label="ck0001415311_CrudeOilNymexExpiresMayTwoThousandAndFourteenMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_CrudeOilNymexExpiresMayTwoThousandAndFourteenMember_lbl" xml:lang="en-US" id="id_4744066_1261285_3_1">Crude oil NYMEX expires may two thousand and fourteen.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_CrudeOilNymexExpiresMayTwoThousandAndFourteenMember_lbl" xml:lang="en-US" id="id_4744066_1261285_1_1">Crude Oil Nymex Expires May Two Thousand And Fourteen [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_CrudeOilNymexExpiresMayTwoThousandAndFourteenMember_lbl" xml:lang="en-US" id="id_4744066_1261285_2_1">Crude Oil Nymex Expires May Two Thousand And Fourteen [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_CrudeOilNymexExpiresMayTwoThousandAndFourteenMember" xlink:to="ck0001415311_CrudeOilNymexExpiresMayTwoThousandAndFourteenMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2013/dei-2013-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US" id="id_4744066_922004_1_1">Current Fiscal Year End Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US" id="id_4744066_922004_2_1">Current Fiscal Year End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US" id="id_4744066_924352_1_1">Debt Instrument Interest Rate Stated Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US" id="id_4744066_924352_2_1">Interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:to="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentMaturityDate" xlink:label="us-gaap_DebtInstrumentMaturityDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentMaturityDate_lbl" xml:lang="en-US" id="id_4744066_926342_1_1">Debt Instrument Maturity Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentMaturityDate_lbl" xml:lang="en-US" id="id_4744066_926342_2_1">Debt instrument, maturity date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentMaturityDate" xlink:to="us-gaap_DebtInstrumentMaturityDate_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_DecreaseIncreaseInLimitationBySponsor" xlink:label="ck0001415311_DecreaseIncreaseInLimitationBySponsor"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_DecreaseIncreaseInLimitationBySponsor_lbl" xml:lang="en-US" id="id_4744066_981235_1_1">Decrease Increase In Limitation By Sponsor</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_DerivativeAssetNotDesignatedAsHedgingInstrumentUnrealizedAppreciation_lbl" xml:lang="en-US" id="id_4744066_1129962_3_1">Derivative asset not designated as hedging instrument, unrealized appreciation.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_DerivativeAssetNotDesignatedAsHedgingInstrumentUnrealizedAppreciation_lbl" xml:lang="en-US" id="id_4744066_1129962_1_1">Derivative Asset Not Designated As Hedging Instrument Unrealized Appreciation</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DerivativeByNatureAxis" xlink:label="us-gaap_DerivativeByNatureAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeByNatureAxis_lbl" xml:lang="en-US" id="id_4744066_930329_1_1">Derivative By Nature [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativeByNatureAxis_lbl" xml:lang="en-US" id="id_4744066_930329_2_1">Derivative, by Nature [Axis]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DerivativeCollateralObligationToReturnCash" xlink:label="us-gaap_DerivativeCollateralObligationToReturnCash"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeCollateralObligationToReturnCash_lbl" xml:lang="en-US" id="id_4744066_934303_1_1">Derivative Collateral Obligation To Return Cash</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DerivativeCollateralObligationToReturnCash_lbl" xml:lang="en-US" id="id_4744066_934303_14_1">Cash Collateral for the Funds / the Counterparties</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DerivativeCollateralObligationToReturnSecurities" xlink:label="us-gaap_DerivativeCollateralObligationToReturnSecurities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeCollateralObligationToReturnSecurities_lbl" xml:lang="en-US" id="id_4744066_935413_1_1">Derivative Collateral Obligation To Return Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DerivativeCollateralObligationToReturnSecurities_lbl" xml:lang="en-US" id="id_4744066_935413_14_1">Financial Instruments for the Funds /the Counterparties</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DerivativeCollateralRightToReclaimCash" xlink:label="us-gaap_DerivativeCollateralRightToReclaimCash"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeCollateralRightToReclaimCash_lbl" xml:lang="en-US" id="id_4744066_939869_1_1">Derivative Collateral Right To Reclaim Cash</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativeCollateralRightToReclaimCash_lbl" xml:lang="en-US" id="id_4744066_939869_2_1">Cash Collateral for the Benefit of / the Counterparties</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DerivativeCollateralRightToReclaimSecurities" xlink:label="us-gaap_DerivativeCollateralRightToReclaimSecurities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeCollateralRightToReclaimSecurities_lbl" xml:lang="en-US" id="id_4744066_940186_1_1">Derivative Collateral Right To Reclaim Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativeCollateralRightToReclaimSecurities_lbl" xml:lang="en-US" id="id_4744066_940186_2_1">Financial Instruments for the Benefit of /the Counterparties</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeContractTypeDomain_lbl" xml:lang="en-US" id="id_4744066_928318_1_1">Derivative Contract Type [Domain]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeFairValueOfDerivativeAsset_lbl" xml:lang="en-US" id="id_4744066_937123_1_1">Derivative Fair Value Of Derivative Asset</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativeFairValueOfDerivativeAsset_lbl" xml:lang="en-US" id="id_4744066_937123_2_1">Gross Amounts of Recognized Assets presented in the Statement of Financial Conditions</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral_lbl" xml:lang="en-US" id="id_4744066_940454_1_1">Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral_lbl" xml:lang="en-US" id="id_4744066_940454_2_1">Amounts of Recognized Assets presented in the Statement of Financial Condition</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral" xlink:label="us-gaap_DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral_lbl" xml:lang="en-US" id="id_4744066_939350_1_1">Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral_lbl" xml:lang="en-US" id="id_4744066_939350_2_1">Gross Amounts Offset in the Statement of Financial Conditions</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeLiability" xlink:label="us-gaap_DerivativeFairValueOfDerivativeLiability"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeFairValueOfDerivativeLiability_lbl" xml:lang="en-US" id="id_4744066_936670_1_1">Derivative Fair Value Of Derivative Liability</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativeFairValueOfDerivativeLiability_lbl" xml:lang="en-US" id="id_4744066_936670_2_1">Gross Amounts of Recognized Liabilities presented in the Statement of Financial Conditions</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral" xlink:label="us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral_lbl" xml:lang="en-US" id="id_4744066_935065_1_1">Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral_lbl" xml:lang="en-US" id="id_4744066_935065_14_1">Amounts of Recognized Liabilities presented in the Statement of Financial Condition</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral" xlink:label="us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral_lbl" xml:lang="en-US" id="id_4744066_936735_1_1">Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DerivativeGainLossOnDerivativeNet" xlink:label="us-gaap_DerivativeGainLossOnDerivativeNet"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ExpenseRatioToAverageNetAssets_lbl" xml:lang="en-US" id="id_4744066_1067876_3_1">Expense ratio to average net assets.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ExpenseRatioToAverageNetAssetsExcludingBrokerageCommissions_lbl" xml:lang="en-US" id="id_4744066_1100361_3_1">Expense ratio to average net assets, excluding brokerage commissions.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueByMeasurementFrequencyAxis_lbl" xml:lang="en-US" id="id_4744066_928472_1_1">Fair Value By Measurement Frequency [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueByMeasurementFrequencyAxis_lbl" xml:lang="en-US" id="id_4744066_928472_2_1">Measurement Frequency [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByMeasurementFrequencyAxis" xlink:to="us-gaap_FairValueByMeasurementFrequencyAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="us-gaap_FairValueInputsLevel1Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsLevel1Member_lbl" xml:lang="en-US" id="id_4744066_925736_1_1">Fair Value Inputs Level 1 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueInputsLevel1Member_lbl" xml:lang="en-US" id="id_4744066_925736_2_1">Level I - Quoted Prices [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel1Member" xlink:to="us-gaap_FairValueInputsLevel1Member_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="us-gaap_FairValueInputsLevel2Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsLevel2Member_lbl" xml:lang="en-US" id="id_4744066_925851_1_1">Fair Value Inputs Level 2 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueInputsLevel2Member_lbl" xml:lang="en-US" id="id_4744066_925851_2_1">Level II - Other Significant Observable Inputs [Member]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueMeasurementFrequencyDomain" xlink:label="us-gaap_FairValueMeasurementFrequencyDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xml:lang="en-US" id="id_4744066_927508_1_1">Fair Value Measurement Frequency [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xml:lang="en-US" id="id_4744066_927508_2_1">Fair Value, Measurement Frequency [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementFrequencyDomain" xlink:to="us-gaap_FairValueMeasurementFrequencyDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:label="us-gaap_FairValueOfFinancialInstrumentsPolicy"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueOfFinancialInstrumentsPolicy_lbl" xml:lang="en-US" id="id_4744066_931938_1_1">Fair Value Of Financial Instruments Policy</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueOfFinancialInstrumentsPolicy_lbl" xml:lang="en-US" id="id_4744066_931938_2_1">Fair Value of Financial Instruments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:to="us-gaap_FairValueOfFinancialInstrumentsPolicy_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_FinalNetAssetValueForFiscalPeriodPolicyTextBlock" xlink:label="ck0001415311_FinalNetAssetValueForFiscalPeriodPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_FinalNetAssetValueForFiscalPeriodPolicyTextBlock_lbl" xml:lang="en-US" id="id_4744066_971884_3_1">Final net asset value for fiscal period policy.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_FinalNetAssetValueForFiscalPeriodPolicyTextBlock_lbl" xml:lang="en-US" id="id_4744066_971884_1_1">Final Net Asset Value For Fiscal Period Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_FinalNetAssetValueForFiscalPeriodPolicyTextBlock_lbl" xml:lang="en-US" id="id_4744066_971884_2_1">Final Net Asset Value for Fiscal Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_FinalNetAssetValueForFiscalPeriodPolicyTextBlock" xlink:to="ck0001415311_FinalNetAssetValueForFiscalPeriodPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_FinancialHighlightsLineItems" xlink:label="ck0001415311_FinancialHighlightsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_FinancialHighlightsLineItems_lbl" xml:lang="en-US" id="id_4744066_1027361_3_1">Financial highlights.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_FinancialHighlightsLineItems_lbl" xml:lang="en-US" id="id_4744066_1027361_1_1">Financial Highlights [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_FinancialHighlightsLineItems_lbl" xml:lang="en-US" id="id_4744066_1027361_2_1">Financial Highlights [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_FinancialHighlightsLineItems" xlink:to="ck0001415311_FinancialHighlightsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_FinancialHighlightsTable" xlink:label="ck0001415311_FinancialHighlightsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_FinancialHighlightsTable_lbl" xml:lang="en-US" id="id_4744066_1139418_3_1">Financial highlights.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_FinancialHighlightsTable_lbl" xml:lang="en-US" id="id_4744066_1139418_1_1">Financial Highlights [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_FinancialHighlightsTable_lbl" xml:lang="en-US" id="id_4744066_1139418_2_1">Financial Highlights [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_FinancialHighlightsTable" xlink:to="ck0001415311_FinancialHighlightsTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FinancialInstrumentsOwnedUSGovernmentAndAgencyObligationsAtFairValue" xlink:label="us-gaap_FinancialInstrumentsOwnedUSGovernmentAndAgencyObligationsAtFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialInstrumentsOwnedUSGovernmentAndAgencyObligationsAtFairValue_lbl" xml:lang="en-US" id="id_4744066_940661_1_1">Financial Instruments Owned U S Government And Agency Obligations At Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancialInstrumentsOwnedUSGovernmentAndAgencyObligationsAtFairValue_lbl" xml:lang="en-US" id="id_4744066_940661_2_1">Short-term U.S. government and agency obligations (Note 3)</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentsOwnedUSGovernmentAndAgencyObligationsAtFairValue" xlink:to="us-gaap_FinancialInstrumentsOwnedUSGovernmentAndAgencyObligationsAtFairValue_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_FixedTransactionFeePerCreationUnit" xlink:label="ck0001415311_FixedTransactionFeePerCreationUnit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_FixedTransactionFeePerCreationUnit_lbl" xml:lang="en-US" id="id_4744066_960281_3_1">Fixed transaction fee per creation unit.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_FixedTransactionFeePerCreationUnit_lbl" xml:lang="en-US" id="id_4744066_960281_1_1">Fixed Transaction Fee Per Creation Unit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_FixedTransactionFeePerCreationUnit_lbl" xml:lang="en-US" id="id_4744066_960281_2_1">Fixed transaction fee per Creation Unit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_FixedTransactionFeePerCreationUnit" xlink:to="ck0001415311_FixedTransactionFeePerCreationUnit_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossRealized" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossRealized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossRealized_lbl" xml:lang="en-US" id="id_4744066_935620_1_1">Foreign Currency Transaction Gain Loss Realized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossRealized_lbl" xml:lang="en-US" id="id_4744066_935620_2_1">Foreign currency forward contracts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionGainLossRealized" xlink:to="us-gaap_ForeignCurrencyTransactionGainLossRealized_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossUnrealized" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized_lbl" xml:lang="en-US" id="id_4744066_935350_1_1">Foreign Currency Transaction Gain Loss Unrealized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized_lbl" xml:lang="en-US" id="id_4744066_935350_2_1">Foreign currency forward contracts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionGainLossUnrealized" xlink:to="us-gaap_ForeignCurrencyTransactionGainLossUnrealized_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ForeignExchangeContractMember" xlink:label="us-gaap_ForeignExchangeContractMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignExchangeContractMember_lbl" xml:lang="en-US" id="id_4744066_928013_1_1">Foreign Exchange Contract [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ForeignExchangeContractMember_lbl" xml:lang="en-US" id="id_4744066_928013_2_1">Foreign Exchange Contracts [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignExchangeContractMember" xlink:to="us-gaap_ForeignExchangeContractMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ForeignExchangeForwardMember" xlink:label="us-gaap_ForeignExchangeForwardMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignExchangeForwardMember_lbl" xml:lang="en-US" id="id_4744066_924009_1_1">Foreign Exchange Forward [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ForeignExchangeForwardMember_lbl" xml:lang="en-US" id="id_4744066_924009_2_1">Foreign Currency Forward Contracts [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignExchangeForwardMember" xlink:to="us-gaap_ForeignExchangeForwardMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ForwardAgreementsNetUnrealizedGain" xlink:label="ck0001415311_ForwardAgreementsNetUnrealizedGain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ForwardAgreementsNetUnrealizedGain_lbl" xml:lang="en-US" id="id_4744066_970952_3_1">Unrealized gains from forward agreements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ForwardAgreementsNetUnrealizedGain_lbl" xml:lang="en-US" id="id_4744066_970952_1_1">Forward Agreements Net Unrealized Gain</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ForwardAgreementsNetUnrealizedGain_lbl" xml:lang="en-US" id="id_4744066_970952_2_1">Forward agreements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ForwardAgreementsNetUnrealizedGain" xlink:to="ck0001415311_ForwardAgreementsNetUnrealizedGain_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ForwardAgreementsWithDeutscheBankAgBasedOnZeroPointNineNineFiveFineTroyOunceGoldMember" xlink:label="ck0001415311_ForwardAgreementsWithDeutscheBankAgBasedOnZeroPointNineNineFiveFineTroyOunceGoldMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ForwardAgreementsWithDeutscheBankAgBasedOnZeroPointNineNineFiveFineTroyOunceGoldMember_lbl" xml:lang="en-US" id="id_4744066_1132179_3_1">Forward agreements with Deutsche Bank AG based on 0.995 Fine Troy Ounce Gold.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ForwardAgreementsWithDeutscheBankAgBasedOnZeroPointNineNineFiveFineTroyOunceGoldMember_lbl" xml:lang="en-US" id="id_4744066_1132179_1_1">Forward Agreements With Deutsche Bank Ag Based On Zero Point Nine Nine Five Fine Troy Ounce Gold [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_GoldmanSachsMember_lbl" xml:lang="en-US" id="id_4744066_980700_2_1">Goldman Sachs International [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_GoldmanSachsMember" xlink:to="ck0001415311_GoldmanSachsMember_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_HealthCareOrganizationsAbstract_lbl" xml:lang="en-US" id="id_4744066_932052_1_1">Health Care Organizations [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_HealthCareOrganizationsAbstract_lbl" xml:lang="en-US" id="id_4744066_932052_2_1">Health Care Organizations [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HealthCareOrganizationsAbstract" xlink:to="us-gaap_HealthCareOrganizationsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_HealthCareTrustFundAxis" xlink:label="us-gaap_HealthCareTrustFundAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_HealthCareTrustFundAxis_lbl" xml:lang="en-US" id="id_4744066_932716_1_1">Health Care Trust Fund [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_HealthCareTrustFundAxis_lbl" xml:lang="en-US" id="id_4744066_932716_2_1">Health Care Trust Fund [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HealthCareTrustFundAxis" xlink:to="us-gaap_HealthCareTrustFundAxis_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_HealthCareTrustFundLineItems_lbl" xml:lang="en-US" id="id_4744066_931983_1_1">Health Care Trust Fund [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_HealthCareTrustFundLineItems_lbl" xml:lang="en-US" id="id_4744066_931983_2_1">Health Care Trust Fund [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HealthCareTrustFundLineItems" xlink:to="us-gaap_HealthCareTrustFundLineItems_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_HealthCareTrustFundNameDomain_lbl" xml:lang="en-US" id="id_4744066_932556_1_1">Health Care Trust Fund Name [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_HealthCareTrustFundNameDomain_lbl" xml:lang="en-US" id="id_4744066_932556_2_1">Health Care Trust Fund, Name [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HealthCareTrustFundNameDomain" xlink:to="us-gaap_HealthCareTrustFundNameDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_HealthCareTrustFundTable" xlink:label="us-gaap_HealthCareTrustFundTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_HealthCareTrustFundTable_lbl" xml:lang="en-US" id="id_4744066_924734_1_1">Health Care Trust Fund [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_HealthCareTrustFundTable_lbl" xml:lang="en-US" id="id_4744066_924734_2_1">Health Care Trust Fund [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HealthCareTrustFundTable" xlink:to="us-gaap_HealthCareTrustFundTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="us-gaap_IncomeStatementAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementAbstract_lbl" xml:lang="en-US" id="id_4744066_927850_1_1">Income Statement [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeStatementAbstract_lbl" xml:lang="en-US" id="id_4744066_927850_2_1">Income Statement [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="us-gaap_IncomeStatementAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:label="us-gaap_IncomeStatementLocationAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementLocationAxis_lbl" xml:lang="en-US" id="id_4744066_927015_1_1">Income Statement Location [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeStatementLocationAxis_lbl" xml:lang="en-US" id="id_4744066_927015_2_1">Income Statement Location [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementLocationAxis" xlink:to="us-gaap_IncomeStatementLocationAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:label="us-gaap_IncomeStatementLocationDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementLocationDomain_lbl" xml:lang="en-US" id="id_4744066_931901_1_1">Income Statement Location [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeStatementLocationDomain_lbl" xml:lang="en-US" id="id_4744066_931901_2_1">Income Statement Location [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementLocationDomain" xlink:to="us-gaap_IncomeStatementLocationDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="us-gaap_IncomeTaxPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxPolicyTextBlock_lbl" xml:lang="en-US" id="id_4744066_932576_1_1">Income Tax Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxPolicyTextBlock_lbl" xml:lang="en-US" id="id_4744066_932576_2_1">Federal Income Tax</label>
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    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_IncreaseDecreaseInManagementFeePayable" xlink:label="ck0001415311_IncreaseDecreaseInManagementFeePayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_IncreaseDecreaseInManagementFeePayable_lbl" xml:lang="en-US" id="id_4744066_1007060_3_1">Increase (decrease) in management fee payable.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_IncreaseDecreaseInManagementFeePayable_lbl" xml:lang="en-US" id="id_4744066_1007060_1_1">Increase Decrease In Management Fee Payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_IncreaseDecreaseInManagementFeePayable_lbl" xml:lang="en-US" id="id_4744066_1007060_2_1">Increase (Decrease) in management fee payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_IncreaseDecreaseInManagementFeePayable" xlink:to="ck0001415311_IncreaseDecreaseInManagementFeePayable_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_IncreaseDecreaseInPayableForOfferingCosts" xlink:label="ck0001415311_IncreaseDecreaseInPayableForOfferingCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_IncreaseDecreaseInPayableForOfferingCosts_lbl" xml:lang="en-US" id="id_4744066_986573_3_1">Increase (decrease) in payable for offering costs.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_IncreaseDecreaseInPayableForOfferingCosts_lbl" xml:lang="en-US" id="id_4744066_986573_1_1">Increase Decrease In Payable For Offering Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_IncreaseDecreaseInPayableForOfferingCosts_lbl" xml:lang="en-US" id="id_4744066_986573_2_1">Increase (Decrease) in payable for offering costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_IncreaseDecreaseInPayableForOfferingCosts" xlink:to="ck0001415311_IncreaseDecreaseInPayableForOfferingCosts_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_IncreaseDecreaseInPayableOnFuturesContracts" xlink:label="ck0001415311_IncreaseDecreaseInPayableOnFuturesContracts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_IncreaseDecreaseInPayableOnFuturesContracts_lbl" xml:lang="en-US" id="id_4744066_1052425_3_1">Increase (decrease) in payable on futures contracts.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_IncreaseDecreaseInPayableOnFuturesContracts_lbl" xml:lang="en-US" id="id_4744066_1052425_1_1">Increase Decrease In Payable On Futures Contracts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_IncreaseDecreaseInPayableOnFuturesContracts_lbl" xml:lang="en-US" id="id_4744066_1052425_2_1">Increase (Decrease) in payable on futures contracts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_IncreaseDecreaseInPayableOnFuturesContracts" xlink:to="ck0001415311_IncreaseDecreaseInPayableOnFuturesContracts_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentAxis" xlink:label="invest_InvestmentAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="invest_InvestmentAxis_lbl" xml:lang="en-US" id="id_4744066_923001_1_1">Investment [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="invest_InvestmentAxis_lbl" xml:lang="en-US" id="id_4744066_923001_2_1">Investment [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="invest_InvestmentAxis" xlink:to="invest_InvestmentAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentDomain" xlink:label="invest_InvestmentDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="invest_InvestmentDomain_lbl" xml:lang="en-US" id="id_4744066_922990_1_1">Investment [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="invest_InvestmentDomain_lbl" xml:lang="en-US" id="id_4744066_922990_2_1">Investment [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="invest_InvestmentDomain" xlink:to="invest_InvestmentDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_InvestmentHoldingsAbstract" xlink:label="ck0001415311_InvestmentHoldingsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_InvestmentHoldingsAbstract_lbl" xml:lang="en-US" id="id_4744066_1183817_3_1">Investment holdings.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_InvestmentHoldingsAbstract_lbl" xml:lang="en-US" id="id_4744066_1183817_1_1">Investment Holdings [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_InvestmentHoldingsAbstract_lbl" xml:lang="en-US" id="id_4744066_1183817_2_1">Investment Holdings [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_InvestmentHoldingsAbstract" xlink:to="ck0001415311_InvestmentHoldingsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="us-gaap_InvestmentIncomeInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentIncomeInterest_lbl" xml:lang="en-US" id="id_4744066_934440_1_1">Investment Income Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentIncomeInterest_lbl" xml:lang="en-US" id="id_4744066_934440_2_1">Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeInterest" xlink:to="us-gaap_InvestmentIncomeInterest_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InvestmentIncomeNet" xlink:label="us-gaap_InvestmentIncomeNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentIncomeNet_lbl" xml:lang="en-US" id="id_4744066_935558_1_1">Investment Income Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentIncomeNet_lbl" xml:lang="en-US" id="id_4744066_935558_2_1">Net investment income (loss)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_InvestmentIncomeNet_lbl" xml:lang="en-US" id="id_4744066_935558_6_1">Net investment income (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeNet" xlink:to="us-gaap_InvestmentIncomeNet_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InvestmentIncomeNetAbstract" xlink:label="us-gaap_InvestmentIncomeNetAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentIncomeNetAbstract_lbl" xml:lang="en-US" id="id_4744066_927245_1_1">Investment Income Net [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentIncomeNetAbstract_lbl" xml:lang="en-US" id="id_4744066_927245_2_1">Investment Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeNetAbstract" xlink:to="us-gaap_InvestmentIncomeNetAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InvestmentOwnedBalancePrincipalAmount" xlink:label="us-gaap_InvestmentOwnedBalancePrincipalAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentOwnedBalancePrincipalAmount_lbl" xml:lang="en-US" id="id_4744066_939363_1_1">Investment Owned Balance Principal Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentOwnedBalancePrincipalAmount_lbl" xml:lang="en-US" id="id_4744066_939363_2_1">Principal amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentOwnedBalancePrincipalAmount" xlink:to="us-gaap_InvestmentOwnedBalancePrincipalAmount_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue" xlink:label="us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue_lbl" xml:lang="en-US" id="id_4744066_940770_1_1">Investment Owned Underlying Face Amount At Market Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue_lbl" xml:lang="en-US" id="id_4744066_940770_2_1">Notional Amount at Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue" xlink:to="us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InvestmentOwnedUnrecognizedUnrealizedAppreciationDepreciationNet" xlink:label="us-gaap_InvestmentOwnedUnrecognizedUnrealizedAppreciationDepreciationNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentOwnedUnrecognizedUnrealizedAppreciationDepreciationNet_lbl" xml:lang="en-US" id="id_4744066_938720_1_1">Investment Owned Unrecognized Unrealized Appreciation Depreciation Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentOwnedUnrecognizedUnrealizedAppreciationDepreciationNet_lbl" xml:lang="en-US" id="id_4744066_938720_2_1">Unrealized Appreciation (Depreciation)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentOwnedUnrecognizedUnrealizedAppreciationDepreciationNet" xlink:to="us-gaap_InvestmentOwnedUnrecognizedUnrealizedAppreciationDepreciationNet_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InvestmentPolicyTextBlock" xlink:label="us-gaap_InvestmentPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentPolicyTextBlock_lbl" xml:lang="en-US" id="id_4744066_925992_1_1">Investment Policy [Text Block]</label>
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    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_LevelThreePortfolioInvestmentsForSignificantUnobservableInputsFairValue" xlink:label="ck0001415311_LevelThreePortfolioInvestmentsForSignificantUnobservableInputsFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_LevelThreePortfolioInvestmentsForSignificantUnobservableInputsFairValue_lbl" xml:lang="en-US" id="id_4744066_1083661_3_1">Level three portfolio investments for significant unobservable inputs fair value.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_LeverageFundMember_lbl" xml:lang="en-US" id="id_4744066_1118947_3_1">Leverage fund.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_LocalCurrency_lbl" xml:lang="en-US" id="id_4744066_986342_3_1">Local currency.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_MarketValuePerShare_lbl" xml:lang="en-US" id="id_4744066_1007509_1_1">Market Value Per Share</label>
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    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_NaturalGasNymexExpiresMayTwoThousandAndFourteenMember" xlink:label="ck0001415311_NaturalGasNymexExpiresMayTwoThousandAndFourteenMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_NaturalGasNymexExpiresMayTwoThousandAndFourteenMember_lbl" xml:lang="en-US" id="id_4744066_1261286_3_1">Natural gas NYMEX expires May two thousand and fourteen.</label>
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    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_NetAdditionRedemptionOfShares" xlink:label="ck0001415311_NetAdditionRedemptionOfShares"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_NetAdditionRedemptionOfShares_lbl" xml:lang="en-US" id="id_4744066_1131338_1_1">Net Addition Redemption Of Shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ck0001415311_NetAdditionRedemptionOfShares_lbl" xml:lang="en-US" id="id_4744066_1131338_6_1">Net addition (redemption) of shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_NetAdditionRedemptionOfShares" xlink:to="ck0001415311_NetAdditionRedemptionOfShares_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_NetAdditionRedemptionOfSharesShares" xlink:label="ck0001415311_NetAdditionRedemptionOfSharesShares"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_NetAssetValueCalculationTime_lbl" xml:lang="en-US" id="id_4744066_1089525_3_1">Net asset value calculation time.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_NetAssetValuePerShare_lbl" xml:lang="en-US" id="id_4744066_945589_3_1">Net asset value per share.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_NetAssetValuePerShare_lbl" xml:lang="en-US" id="id_4744066_945589_1_1">Net Asset Value Per Share</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US" id="id_4744066_928832_1_1">Net Cash Provided By Used In Operating Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US" id="id_4744066_928832_6_1">Net cash provided by (used in) operating activities</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US" id="id_4744066_935636_1_1">Net Income Loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US" id="id_4744066_935636_2_1">Net income (loss)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US" id="id_4744066_935636_6_1">Net income (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_NetIncomeLossPerWeightedAverageShare" xlink:label="ck0001415311_NetIncomeLossPerWeightedAverageShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_NetIncomeLossPerWeightedAverageShare_lbl" xml:lang="en-US" id="id_4744066_1132462_3_1">Net income (loss) per weighted-average share.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_NetIncomeLossPerWeightedAverageShare_lbl" xml:lang="en-US" id="id_4744066_1132462_1_1">Net Income Loss Per Weighted Average Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_NetIncomeLossPerWeightedAverageShare_lbl" xml:lang="en-US" id="id_4744066_1132462_2_1">Net income (loss) per weighted-average share</label>
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    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_NetInvestmentIncomeLossPerShare" xlink:label="ck0001415311_NetInvestmentIncomeLossPerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_NetInvestmentIncomeLossPerShare_lbl" xml:lang="en-US" id="id_4744066_948669_3_1">Net investment income (loss), per share.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_NetInvestmentIncomeLossPerShare_lbl" xml:lang="en-US" id="id_4744066_948669_1_1">Net Investment Income Loss Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_NetInvestmentIncomeLossPerShare_lbl" xml:lang="en-US" id="id_4744066_948669_2_1">Net investment income (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_NetInvestmentIncomeLossPerShare" xlink:to="ck0001415311_NetInvestmentIncomeLossPerShare_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_NetInvestmentIncomeLossRatioToAverageNetAssets" xlink:label="ck0001415311_NetInvestmentIncomeLossRatioToAverageNetAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_NetInvestmentIncomeLossRatioToAverageNetAssets_lbl" xml:lang="en-US" id="id_4744066_997532_3_1">Net investment income (loss) ratio to average net assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_NetInvestmentIncomeLossRatioToAverageNetAssets_lbl" xml:lang="en-US" id="id_4744066_997532_1_1">Net Investment Income Loss Ratio To Average Net Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_NetInvestmentIncomeLossRatioToAverageNetAssets_lbl" xml:lang="en-US" id="id_4744066_997532_2_1">Net investment income (loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_NetInvestmentIncomeLossRatioToAverageNetAssets" xlink:to="ck0001415311_NetInvestmentIncomeLossRatioToAverageNetAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_NetRealizedAndUnrealizedGainLossPerShare" xlink:label="ck0001415311_NetRealizedAndUnrealizedGainLossPerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_NetRealizedAndUnrealizedGainLossPerShare_lbl" xml:lang="en-US" id="id_4744066_1022888_3_1">Net realized and unrealized gain (loss), per share.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_NetRealizedAndUnrealizedGainLossPerShare_lbl" xml:lang="en-US" id="id_4744066_1022888_1_1">Net Realized And Unrealized Gain Loss Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_NetRealizedAndUnrealizedGainLossPerShare_lbl" xml:lang="en-US" id="id_4744066_1022888_2_1">Net realized and unrealized gain (loss)</label>
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    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_NetRealizedGainLossOnForeignCurrencyForwardContractsChangesInUnrealizedAppreciationDepreciationOnForeignCurrencyForwardContractsMember" xlink:label="ck0001415311_NetRealizedGainLossOnForeignCurrencyForwardContractsChangesInUnrealizedAppreciationDepreciationOnForeignCurrencyForwardContractsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_NetRealizedGainLossOnForeignCurrencyForwardContractsChangesInUnrealizedAppreciationDepreciationOnForeignCurrencyForwardContractsMember_lbl" xml:lang="en-US" id="id_4744066_1067824_3_1">Net realized gain (loss) on foreign currency forward contracts/ changes in unrealized appreciation/ depreciation on foreign currency forward contracts.</label>
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    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_NetRealizedGainLossOnFuturesContractsChangesInUnrealizedAppreciationDepreciationOnFuturesContractsMember" xlink:label="ck0001415311_NetRealizedGainLossOnFuturesContractsChangesInUnrealizedAppreciationDepreciationOnFuturesContractsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_NetRealizedGainLossOnFuturesContractsChangesInUnrealizedAppreciationDepreciationOnFuturesContractsMember_lbl" xml:lang="en-US" id="id_4744066_1108078_3_1">Net realized gain (loss) on futures contracts/ changes in unrealized appreciation / depreciation on futures contracts.</label>
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    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_NetRealizedGainLossOnFuturesContractsSwapAndOrForwardAgreementsChangesInUnrealizedAppreciationDepreciationOnFuturesContractsSwapAndOrForwardAgreementsMember" xlink:label="ck0001415311_NetRealizedGainLossOnFuturesContractsSwapAndOrForwardAgreementsChangesInUnrealizedAppreciationDepreciationOnFuturesContractsSwapAndOrForwardAgreementsMember"/>
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    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_NetRealizedGainLossShortTermUsGovernmentAndAgencyObligations" xlink:label="ck0001415311_NetRealizedGainLossShortTermUsGovernmentAndAgencyObligations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_NetRealizedGainLossShortTermUsGovernmentAndAgencyObligations_lbl" xml:lang="en-US" id="id_4744066_1104440_3_1">Net realized gain or loss on Short-term U.S. government and agency obligations.</label>
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    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_NetSalePurchaseOfShortTermUSGovernmentAndAgencyObligations" xlink:label="ck0001415311_NetSalePurchaseOfShortTermUSGovernmentAndAgencyObligations"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_NetSalePurchaseOfShortTermUSGovernmentAndAgencyObligations_lbl" xml:lang="en-US" id="id_4744066_974659_1_1">Net Sale Purchase Of Short Term U S Government And Agency Obligations</label>
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    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_NewFundMember" xlink:label="ck0001415311_NewFundMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_NewFundMember_lbl" xml:lang="en-US" id="id_4744066_1139246_3_1">New fund.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_NewFundMember_lbl" xml:lang="en-US" id="id_4744066_1139246_1_1">New Fund [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_NewFundMember_lbl" xml:lang="en-US" id="id_4744066_1139246_2_1">New Fund [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_NewFundMember" xlink:to="ck0001415311_NewFundMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_NumberOfContracts" xlink:label="ck0001415311_NumberOfContracts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_NumberOfContracts_lbl" xml:lang="en-US" id="id_4744066_1001835_3_1">Number of contracts.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_NumberOfContracts_lbl" xml:lang="en-US" id="id_4744066_1001835_1_1">Number Of Contracts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_NumberOfContracts_lbl" xml:lang="en-US" id="id_4744066_1001835_2_1">Number of Contracts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_NumberOfContracts" xlink:to="ck0001415311_NumberOfContracts_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_NumberOfDaysForExpectedMultipleReturns" xlink:label="ck0001415311_NumberOfDaysForExpectedMultipleReturns"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_NumberOfDaysForExpectedMultipleReturns_lbl" xml:lang="en-US" id="id_4744066_993966_3_1">Number of days for expected multiple returns</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_NumberOfDaysForExpectedMultipleReturns_lbl" xml:lang="en-US" id="id_4744066_993966_1_1">Number Of Days For Expected Multiple Returns</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_NumberOfDaysForExpectedMultipleReturns_lbl" xml:lang="en-US" id="id_4744066_993966_2_1">Number of days for expected multiple returns</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_NumberOfDaysForExpectedMultipleReturns" xlink:to="ck0001415311_NumberOfDaysForExpectedMultipleReturns_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_NumberOfSeries" xlink:label="ck0001415311_NumberOfSeries"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_NumberOfSeries_lbl" xml:lang="en-US" id="id_4744066_1141418_3_1">Number of series.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_NumberOfSeries_lbl" xml:lang="en-US" id="id_4744066_1141418_1_1">Number Of Series</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_NumberOfSeries_lbl" xml:lang="en-US" id="id_4744066_1141418_2_1">Number of series of Trust</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_NumberOfSeries" xlink:to="ck0001415311_NumberOfSeries_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_NumberOfSharesOfEachFund" xlink:label="ck0001415311_NumberOfSharesOfEachFund"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_NumberOfSharesOfEachFund_lbl" xml:lang="en-US" id="id_4744066_1139858_3_1">Number of shares of each fund.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_NumberOfSharesOfEachFund_lbl" xml:lang="en-US" id="id_4744066_1139858_1_1">Number Of Shares Of Each Fund</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_NumberOfSharesOfEachFund_lbl" xml:lang="en-US" id="id_4744066_1139858_2_1">Number of shares of each Leveraged Fund</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_NumberOfSharesOfEachFund" xlink:to="ck0001415311_NumberOfSharesOfEachFund_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_OfferingCostsAmortizationPeriodMonths" xlink:label="ck0001415311_OfferingCostsAmortizationPeriodMonths"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_OfferingCostsAmortizationPeriodMonths_lbl" xml:lang="en-US" id="id_4744066_1054228_3_1">Offering costs, amortization period, months.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_OfferingCostsAmortizationPeriodMonths_lbl" xml:lang="en-US" id="id_4744066_1054228_1_1">Offering Costs Amortization Period Months</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_OfferingCostsAmortizationPeriodMonths_lbl" xml:lang="en-US" id="id_4744066_1054228_2_1">Offering costs, amortization period, months</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_OfferingCostsAmortizationPeriodMonths" xlink:to="ck0001415311_OfferingCostsAmortizationPeriodMonths_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_OfferingCostsTextBlock" xlink:label="ck0001415311_OfferingCostsTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_OfferingCostsTextBlock_lbl" xml:lang="en-US" id="id_4744066_996497_3_1">Offering costs.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_OfferingCostsTextBlock_lbl" xml:lang="en-US" id="id_4744066_996497_1_1">Offering Costs [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_OfferingCostsTextBlock_lbl" xml:lang="en-US" id="id_4744066_996497_2_1">Offering Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_OfferingCostsTextBlock" xlink:to="ck0001415311_OfferingCostsTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OffsettingAbstract" xlink:label="us-gaap_OffsettingAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OffsettingAbstract_lbl" xml:lang="en-US" id="id_4744066_932730_1_1">Offsetting [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OffsettingAbstract_lbl" xml:lang="en-US" id="id_4744066_932730_2_1">Offsetting [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OffsettingAbstract" xlink:to="us-gaap_OffsettingAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="us-gaap_OperatingExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpenses_lbl" xml:lang="en-US" id="id_4744066_940683_1_1">Operating Expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingExpenses_lbl" xml:lang="en-US" id="id_4744066_940683_6_1">Total expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OperatingExpenses_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="us-gaap_OperatingExpensesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xml:lang="en-US" id="id_4744066_927909_1_1">Operating Expenses [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xml:lang="en-US" id="id_4744066_927909_2_1">Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpensesAbstract" xlink:to="us-gaap_OperatingExpensesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_OrganizationAndOfferingCostsLineItems" xlink:label="ck0001415311_OrganizationAndOfferingCostsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_OrganizationAndOfferingCostsLineItems_lbl" xml:lang="en-US" id="id_4744066_943388_3_1">Organization and offering costs.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_OrganizationAndOfferingCostsLineItems_lbl" xml:lang="en-US" id="id_4744066_943388_1_1">Organization And Offering Costs [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_OrganizationAndOfferingCostsLineItems_lbl" xml:lang="en-US" id="id_4744066_943388_2_1">Organization And Offering Costs [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_OrganizationAndOfferingCostsLineItems" xlink:to="ck0001415311_OrganizationAndOfferingCostsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_OrganizationAndOfferingCostsTable" xlink:label="ck0001415311_OrganizationAndOfferingCostsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_OrganizationAndOfferingCostsTable_lbl" xml:lang="en-US" id="id_4744066_1099847_3_1">Organization and offering costs.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_OrganizationAndOfferingCostsTable_lbl" xml:lang="en-US" id="id_4744066_1099847_1_1">Organization And Offering Costs [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_OrganizationAndOfferingCostsTable_lbl" xml:lang="en-US" id="id_4744066_1099847_2_1">Organization And Offering Costs [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_OrganizationAndOfferingCostsTable" xlink:to="ck0001415311_OrganizationAndOfferingCostsTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xml:lang="en-US" id="id_4744066_927825_1_1">Organization Consolidation And Presentation Of Financial Statements [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xml:lang="en-US" id="id_4744066_927825_2_1">Organization, Consolidation and Presentation of Financial Statements [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" xml:lang="en-US" id="id_4744066_931858_1_1">Organization Consolidation And Presentation Of Financial Statements Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" xml:lang="en-US" id="id_4744066_931858_2_1">Organization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_OrganizationLineItems" xlink:label="ck0001415311_OrganizationLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_OrganizationLineItems_lbl" xml:lang="en-US" id="id_4744066_948670_3_1">Organization.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_OrganizationLineItems_lbl" xml:lang="en-US" id="id_4744066_948670_1_1">Organization [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_OrganizationLineItems_lbl" xml:lang="en-US" id="id_4744066_948670_2_1">Organization [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_OrganizationLineItems" xlink:to="ck0001415311_OrganizationLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_OrganizationTable" xlink:label="ck0001415311_OrganizationTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_OrganizationTable_lbl" xml:lang="en-US" id="id_4744066_997216_3_1">Organization.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_OrganizationTable_lbl" xml:lang="en-US" id="id_4744066_997216_1_1">Organization [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_OrganizationTable_lbl" xml:lang="en-US" id="id_4744066_997216_2_1">Organization [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_OrganizationTable" xlink:to="ck0001415311_OrganizationTable_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_PayableForCapitalSharesRedeemed" xlink:label="ck0001415311_PayableForCapitalSharesRedeemed"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_PayableForCapitalSharesRedeemed_lbl" xml:lang="en-US" id="id_4744066_971273_3_1">Payable for capital shares redeemed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_PayableForCapitalSharesRedeemed_lbl" xml:lang="en-US" id="id_4744066_971273_1_1">Payable For Capital Shares Redeemed</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_PayableForCapitalSharesRedeemed_lbl" xml:lang="en-US" id="id_4744066_971273_2_1">Payable for capital shares redeemed</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_PayableForCapitalSharesRedeemed" xlink:to="ck0001415311_PayableForCapitalSharesRedeemed_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_PayableOnOpenFuturesContractsAndUnrealizedDepreciationOnSwapAgreementsMember" xlink:label="ck0001415311_PayableOnOpenFuturesContractsAndUnrealizedDepreciationOnSwapAgreementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_PayableOnOpenFuturesContractsAndUnrealizedDepreciationOnSwapAgreementsMember_lbl" xml:lang="en-US" id="id_4744066_1187189_3_1">Payable on open futures contracts and unrealized depreciation on swap agreements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_PayableOnOpenFuturesContractsAndUnrealizedDepreciationOnSwapAgreementsMember_lbl" xml:lang="en-US" id="id_4744066_1187189_1_1">Payable On Open Futures Contracts And Unrealized Depreciation On Swap Agreements [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_PayableOnOpenFuturesContractsAndUnrealizedDepreciationOnSwapAgreementsMember_lbl" xml:lang="en-US" id="id_4744066_1187189_2_1">Payable on Open Futures Contracts and Unrealized Depreciation on Swap Agreements [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_PayableOnOpenFuturesContractsAndUnrealizedDepreciationOnSwapAgreementsMember" xlink:to="ck0001415311_PayableOnOpenFuturesContractsAndUnrealizedDepreciationOnSwapAgreementsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_PayableOnOpenFuturesContractsUnrealizedDepreciationOnSwapAndOrForwardAgreementsMember" xlink:label="ck0001415311_PayableOnOpenFuturesContractsUnrealizedDepreciationOnSwapAndOrForwardAgreementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_PayableOnOpenFuturesContractsUnrealizedDepreciationOnSwapAndOrForwardAgreementsMember_lbl" xml:lang="en-US" id="id_4744066_995726_3_1">Payable on open futures contracts, unrealized depreciation on swap and/or forward agreements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_PayableOnOpenFuturesContractsUnrealizedDepreciationOnSwapAndOrForwardAgreementsMember_lbl" xml:lang="en-US" id="id_4744066_995726_1_1">Payable On Open Futures Contracts Unrealized Depreciation On Swap And Or Forward Agreements [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_PayableOnOpenFuturesContractsUnrealizedDepreciationOnSwapAndOrForwardAgreementsMember_lbl" xml:lang="en-US" id="id_4744066_995726_2_1">Payable on Open Futures Contracts, Unrealized Depreciation on Swap and/or Forward Agreements [Member]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PayablesToBrokerDealersAndClearingOrganizations" xlink:label="us-gaap_PayablesToBrokerDealersAndClearingOrganizations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PayablesToBrokerDealersAndClearingOrganizations_lbl" xml:lang="en-US" id="id_4744066_934394_1_1">Payables To Broker Dealers And Clearing Organizations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PayablesToBrokerDealersAndClearingOrganizations_lbl" xml:lang="en-US" id="id_4744066_934394_2_1">Payable on open futures contracts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PayablesToBrokerDealersAndClearingOrganizations" xlink:to="us-gaap_PayablesToBrokerDealersAndClearingOrganizations_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xml:lang="en-US" id="id_4744066_936173_1_1">Payments For Repurchase Of Common Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xml:lang="en-US" id="id_4744066_936173_14_1">Payment on shares redeemed</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:to="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_PercentageOfAnnualNavOfFund" xlink:label="ck0001415311_PercentageOfAnnualNavOfFund"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_PercentageOfAnnualNavOfFund_lbl" xml:lang="en-US" id="id_4744066_1057915_3_1">Percentage of annual NAV of fund.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_PercentageOfAnnualNavOfFund_lbl" xml:lang="en-US" id="id_4744066_1057915_1_1">Percentage Of Annual Nav Of Fund</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_PercentageOfAnnualNavOfFund_lbl" xml:lang="en-US" id="id_4744066_1057915_2_1">Percentage of annual NAV as limit to pay SEC registration fees incurred</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_PercentageOfAnnualNavOfFund" xlink:to="ck0001415311_PercentageOfAnnualNavOfFund_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_PercentageOfAverageDailyNav" xlink:label="ck0001415311_PercentageOfAverageDailyNav"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_PercentageOfAverageDailyNav_lbl" xml:lang="en-US" id="id_4744066_945911_3_1">Percentage of average daily NAV.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_PercentageOfAverageDailyNav_lbl" xml:lang="en-US" id="id_4744066_945911_1_1">Percentage Of Average Daily Nav</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_PercentageOfAverageDailyNav_lbl" xml:lang="en-US" id="id_4744066_945911_2_1">Sponsor reimbursement of organization and offering costs, maximum for each Leveraged Fund</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_PercentageOfAverageDailyNav" xlink:to="ck0001415311_PercentageOfAverageDailyNav_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_PercentageOfAverageDailyNavOfFund" xlink:label="ck0001415311_PercentageOfAverageDailyNavOfFund"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_PercentageOfAverageDailyNavOfFund_lbl" xml:lang="en-US" id="id_4744066_1109021_3_1">Percentage of average daily NAV of fund.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_PercentageOfAverageDailyNavOfFund_lbl" xml:lang="en-US" id="id_4744066_1109021_1_1">Percentage Of Average Daily Nav Of Fund</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_PercentageOfAverageDailyNavOfFund_lbl" xml:lang="en-US" id="id_4744066_1109021_2_1">Management Fee paid to sponsor, percent per annum of the average daily NAV of each Geared Fund</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_PercentageOfAverageDailyNavOfFund" xlink:to="ck0001415311_PercentageOfAverageDailyNavOfFund_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_PercentageOfCalculationOnSimpleInverseCorrelation" xlink:label="ck0001415311_PercentageOfCalculationOnSimpleInverseCorrelation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_PercentageOfCalculationOnSimpleInverseCorrelation_lbl" xml:lang="en-US" id="id_4744066_986675_3_1">Percentage of calculation on simple inverse correlation.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_PercentageOfCalculationOnSimpleInverseCorrelation_lbl" xml:lang="en-US" id="id_4744066_986675_1_1">Percentage Of Calculation On Simple Inverse Correlation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_PercentageOfCalculationOnSimpleInverseCorrelation_lbl" xml:lang="en-US" id="id_4744066_986675_2_1">Percentage of calculation on simple inverse correlation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_PercentageOfCalculationOnSimpleInverseCorrelation" xlink:to="ck0001415311_PercentageOfCalculationOnSimpleInverseCorrelation_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_PercentageOfCreditExposure" xlink:label="ck0001415311_PercentageOfCreditExposure"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_PercentageOfCreditExposure_lbl" xml:lang="en-US" id="id_4744066_1069368_3_1">Percentage of credit exposure.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_PercentageOfCreditExposure_lbl" xml:lang="en-US" id="id_4744066_1069368_1_1">Percentage Of Credit Exposure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_PercentageOfCreditExposure_lbl" xml:lang="en-US" id="id_4744066_1069368_2_1">Exposure to swap agreements or forward contracts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_PercentageOfCreditExposure" xlink:to="ck0001415311_PercentageOfCreditExposure_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_PerShareOperatingPerformanceTextBlock" xlink:label="ck0001415311_PerShareOperatingPerformanceTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_PerShareOperatingPerformanceTextBlock_lbl" xml:lang="en-US" id="id_4744066_989733_3_1">Per share operating performance.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_PerShareOperatingPerformanceTextBlock_lbl" xml:lang="en-US" id="id_4744066_989733_1_1">Per Share Operating Performance [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_PerShareOperatingPerformanceTextBlock_lbl" xml:lang="en-US" id="id_4744066_989733_2_1">Per Share Operating Performance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_PerShareOperatingPerformanceTextBlock" xlink:to="ck0001415311_PerShareOperatingPerformanceTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_PostSplitPriceTradingResumedDate" xlink:label="ck0001415311_PostSplitPriceTradingResumedDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_PostSplitPriceTradingResumedDate_lbl" xml:lang="en-US" id="id_4744066_993052_3_1">Post split price, trading resumed date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_PostSplitPriceTradingResumedDate_lbl" xml:lang="en-US" id="id_4744066_993052_1_1">Post Split Price Trading Resumed Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_PostSplitPriceTradingResumedDate_lbl" xml:lang="en-US" id="id_4744066_993052_2_1">Date Trading Resumed at Post- Split Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_PostSplitPriceTradingResumedDate" xlink:to="ck0001415311_PostSplitPriceTradingResumedDate_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" xml:lang="en-US" id="id_4744066_938994_1_1">Proceeds From Issuance Of Common Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" xml:lang="en-US" id="id_4744066_938994_2_1">Proceeds from addition of shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:to="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ProsharesShortEuroMember" xlink:label="ck0001415311_ProsharesShortEuroMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesShortEuroMember_lbl" xml:lang="en-US" id="id_4744066_1005708_3_1">ProShares short Euro.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ProsharesShortEuroMember_lbl" xml:lang="en-US" id="id_4744066_1005708_1_1">Proshares Short Euro [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesShortEuroMember_lbl" xml:lang="en-US" id="id_4744066_1005708_2_1">ProShares Short Euro [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ProsharesShortEuroMember" xlink:to="ck0001415311_ProsharesShortEuroMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ProsharesShortVixShortTermFuturesEtfMember" xlink:label="ck0001415311_ProsharesShortVixShortTermFuturesEtfMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesShortVixShortTermFuturesEtfMember_lbl" xml:lang="en-US" id="id_4744066_987989_3_1">Proshares short VIX short-term futures ETF.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ProsharesShortVixShortTermFuturesEtfMember_lbl" xml:lang="en-US" id="id_4744066_987989_1_1">Proshares Short Vix Short Term Futures Etf [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesShortVixShortTermFuturesEtfMember_lbl" xml:lang="en-US" id="id_4744066_987989_2_1">ProShares Short VIX Short-Term Futures ETF [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ProsharesShortVixShortTermFuturesEtfMember" xlink:to="ck0001415311_ProsharesShortVixShortTermFuturesEtfMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ProsharesTrustIiMember" xlink:label="ck0001415311_ProsharesTrustIiMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesTrustIiMember_lbl" xml:lang="en-US" id="id_4744066_1072011_3_1">Proshares trust II.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ProsharesTrustIiMember_lbl" xml:lang="en-US" id="id_4744066_1072011_1_1">Proshares Trust Ii [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesTrustIiMember_lbl" xml:lang="en-US" id="id_4744066_1072011_2_1">ProShares Trust II [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ProsharesTrustIiMember" xlink:to="ck0001415311_ProsharesTrustIiMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ProsharesUltraAustralianDollarMember" xlink:label="ck0001415311_ProsharesUltraAustralianDollarMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesUltraAustralianDollarMember_lbl" xml:lang="en-US" id="id_4744066_985343_3_1">Proshares Ultra Australian dollar.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ProsharesUltraAustralianDollarMember_lbl" xml:lang="en-US" id="id_4744066_985343_1_1">Proshares Ultra Australian Dollar [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesUltraAustralianDollarMember_lbl" xml:lang="en-US" id="id_4744066_985343_2_1">ProShares Ultra Australian Dollar [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ProsharesUltraAustralianDollarMember" xlink:to="ck0001415311_ProsharesUltraAustralianDollarMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ProsharesUltraDjUbsCommodityMember" xlink:label="ck0001415311_ProsharesUltraDjUbsCommodityMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesUltraDjUbsCommodityMember_lbl" xml:lang="en-US" id="id_4744066_1049039_3_1">Proshares Ultra DJ-UBS commodity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ProsharesUltraDjUbsCommodityMember_lbl" xml:lang="en-US" id="id_4744066_1049039_1_1">Proshares Ultra Dj Ubs Commodity [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesUltraDjUbsCommodityMember_lbl" xml:lang="en-US" id="id_4744066_1049039_2_1">ProShares Ultra DJ-UBS Commodity [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ProsharesUltraDjUbsCommodityMember" xlink:to="ck0001415311_ProsharesUltraDjUbsCommodityMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ProsharesUltraDjUbsCrudeOilMember" xlink:label="ck0001415311_ProsharesUltraDjUbsCrudeOilMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesUltraDjUbsCrudeOilMember_lbl" xml:lang="en-US" id="id_4744066_1009915_3_1">Proshares Ultra DJ-UBS crude oil.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ProsharesUltraDjUbsCrudeOilMember_lbl" xml:lang="en-US" id="id_4744066_1009915_1_1">Proshares Ultra Dj Ubs Crude Oil [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesUltraDjUbsCrudeOilMember_lbl" xml:lang="en-US" id="id_4744066_1009915_2_1">ProShares Ultra DJ-UBS Crude Oil [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ProsharesUltraDjUbsCrudeOilMember" xlink:to="ck0001415311_ProsharesUltraDjUbsCrudeOilMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ProsharesUltraDjUbsNaturalGasMember" xlink:label="ck0001415311_ProsharesUltraDjUbsNaturalGasMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesUltraDjUbsNaturalGasMember_lbl" xml:lang="en-US" id="id_4744066_953238_3_1">Proshares Ultra DJ-UBS natural gas.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ProsharesUltraDjUbsNaturalGasMember_lbl" xml:lang="en-US" id="id_4744066_953238_1_1">Proshares Ultra Dj Ubs Natural Gas [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesUltraDjUbsNaturalGasMember_lbl" xml:lang="en-US" id="id_4744066_953238_2_1">ProShares Ultra DJ-UBS Natural Gas [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ProsharesUltraDjUbsNaturalGasMember" xlink:to="ck0001415311_ProsharesUltraDjUbsNaturalGasMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ProsharesUltraEuroMember" xlink:label="ck0001415311_ProsharesUltraEuroMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesUltraEuroMember_lbl" xml:lang="en-US" id="id_4744066_1042644_3_1">Proshares Ultra euro.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ProsharesUltraEuroMember_lbl" xml:lang="en-US" id="id_4744066_1042644_1_1">Proshares Ultra Euro [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesUltraEuroMember_lbl" xml:lang="en-US" id="id_4744066_1042644_2_1">ProShares Ultra Euro [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ProsharesUltraEuroMember" xlink:to="ck0001415311_ProsharesUltraEuroMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ProsharesUltraGoldMember" xlink:label="ck0001415311_ProsharesUltraGoldMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesUltraGoldMember_lbl" xml:lang="en-US" id="id_4744066_1138486_3_1">Proshares Ultra gold.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ProsharesUltraGoldMember_lbl" xml:lang="en-US" id="id_4744066_1138486_1_1">Proshares Ultra Gold [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesUltraGoldMember_lbl" xml:lang="en-US" id="id_4744066_1138486_2_1">ProShares Ultra Gold [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesUltrashortDjUbsCommodityMember_lbl" xml:lang="en-US" id="id_4744066_1104506_3_1">ProShares Ultrashort DJ-UBS commodity.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesUltrashortDjUbsCommodityMember_lbl" xml:lang="en-US" id="id_4744066_1104506_2_1">ProShares UltraShort DJ-UBS Commodity [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ProsharesUltrashortDjUbsCommodityMember" xlink:to="ck0001415311_ProsharesUltrashortDjUbsCommodityMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ProsharesUltrashortDjUbsCrudeOilMember" xlink:label="ck0001415311_ProsharesUltrashortDjUbsCrudeOilMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesUltrashortDjUbsCrudeOilMember_lbl" xml:lang="en-US" id="id_4744066_1019420_3_1">ProShares Ultrashort DJ-UBS crude oil.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ProsharesUltrashortDjUbsCrudeOilMember_lbl" xml:lang="en-US" id="id_4744066_1019420_1_1">Proshares Ultrashort Dj Ubs Crude Oil [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesUltrashortDjUbsCrudeOilMember_lbl" xml:lang="en-US" id="id_4744066_1019420_2_1">ProShares UltraShort DJ-UBS Crude Oil [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ProsharesUltrashortDjUbsCrudeOilMember" xlink:to="ck0001415311_ProsharesUltrashortDjUbsCrudeOilMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ProsharesUltraShortDjUbsNaturalGasMember" xlink:label="ck0001415311_ProsharesUltraShortDjUbsNaturalGasMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesUltraShortDjUbsNaturalGasMember_lbl" xml:lang="en-US" id="id_4744066_1134466_3_1">ProShares Ultrashort DJ-UBS natural gas.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ProsharesUltraShortDjUbsNaturalGasMember_lbl" xml:lang="en-US" id="id_4744066_1134466_1_1">Proshares Ultra Short Dj Ubs Natural Gas [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesUltraShortDjUbsNaturalGasMember_lbl" xml:lang="en-US" id="id_4744066_1134466_2_1">ProShares UltraShort DJ-UBS Natural Gas [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ProsharesUltraShortDjUbsNaturalGasMember" xlink:to="ck0001415311_ProsharesUltraShortDjUbsNaturalGasMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ProsharesUltrashortEuroMember" xlink:label="ck0001415311_ProsharesUltrashortEuroMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesUltrashortEuroMember_lbl" xml:lang="en-US" id="id_4744066_1029458_3_1">Proshares Ultrashort Euro.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ProsharesUltrashortEuroMember_lbl" xml:lang="en-US" id="id_4744066_1029458_1_1">Proshares Ultrashort Euro [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesUltrashortEuroMember_lbl" xml:lang="en-US" id="id_4744066_1029458_2_1">ProShares UltraShort Euro [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ProsharesUltrashortEuroMember" xlink:to="ck0001415311_ProsharesUltrashortEuroMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ProsharesUltrashortGoldMember" xlink:label="ck0001415311_ProsharesUltrashortGoldMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesUltrashortGoldMember_lbl" xml:lang="en-US" id="id_4744066_1143372_3_1">ProShares Ultrashort gold.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ProsharesUltrashortGoldMember_lbl" xml:lang="en-US" id="id_4744066_1143372_1_1">Proshares Ultrashort Gold [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesUltrashortGoldMember_lbl" xml:lang="en-US" id="id_4744066_1143372_2_1">ProShares UltraShort Gold [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ProsharesUltrashortGoldMember" xlink:to="ck0001415311_ProsharesUltrashortGoldMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ProsharesUltrashortSilverMember" xlink:label="ck0001415311_ProsharesUltrashortSilverMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesUltrashortSilverMember_lbl" xml:lang="en-US" id="id_4744066_1009488_3_1">ProShares Ultrashort silver.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ProsharesUltrashortSilverMember_lbl" xml:lang="en-US" id="id_4744066_1009488_1_1">Proshares Ultrashort Silver [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesUltrashortSilverMember_lbl" xml:lang="en-US" id="id_4744066_1009488_2_1">ProShares UltraShort Silver [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ProsharesUltrashortSilverMember" xlink:to="ck0001415311_ProsharesUltrashortSilverMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ProsharesUltrashortYenMember" xlink:label="ck0001415311_ProsharesUltrashortYenMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesUltrashortYenMember_lbl" xml:lang="en-US" id="id_4744066_1091482_3_1">Proshares Ultrashort Yen.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ProsharesUltrashortYenMember_lbl" xml:lang="en-US" id="id_4744066_1091482_1_1">Proshares Ultrashort Yen [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesUltrashortYenMember_lbl" xml:lang="en-US" id="id_4744066_1091482_2_1">ProShares UltraShort Yen [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ProsharesUltrashortYenMember" xlink:to="ck0001415311_ProsharesUltrashortYenMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ProsharesUltraSilverMember" xlink:label="ck0001415311_ProsharesUltraSilverMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesUltraSilverMember_lbl" xml:lang="en-US" id="id_4744066_980952_3_1">Proshares Ultra Silver.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ProsharesUltraSilverMember_lbl" xml:lang="en-US" id="id_4744066_980952_1_1">Proshares Ultra Silver [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesUltraSilverMember_lbl" xml:lang="en-US" id="id_4744066_980952_2_1">ProShares Ultra Silver [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ProsharesUltraSilverMember" xlink:to="ck0001415311_ProsharesUltraSilverMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ProsharesUltraVixShortTermFuturesEtfMember" xlink:label="ck0001415311_ProsharesUltraVixShortTermFuturesEtfMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesUltraVixShortTermFuturesEtfMember_lbl" xml:lang="en-US" id="id_4744066_946117_3_1">Proshares Ultra VIX short-term futures ETF.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ProsharesUltraVixShortTermFuturesEtfMember_lbl" xml:lang="en-US" id="id_4744066_946117_1_1">Proshares Ultra Vix Short Term Futures Etf [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesUltraVixShortTermFuturesEtfMember_lbl" xml:lang="en-US" id="id_4744066_946117_2_1">ProShares Ultra VIX Short-Term Futures ETF [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ProsharesUltraVixShortTermFuturesEtfMember" xlink:to="ck0001415311_ProsharesUltraVixShortTermFuturesEtfMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ProsharesUltraYenMember" xlink:label="ck0001415311_ProsharesUltraYenMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesUltraYenMember_lbl" xml:lang="en-US" id="id_4744066_1013134_3_1">Proshares Ultra Yen.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ProsharesUltraYenMember_lbl" xml:lang="en-US" id="id_4744066_1013134_1_1">Proshares Ultra Yen [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesUltraYenMember_lbl" xml:lang="en-US" id="id_4744066_1013134_2_1">ProShares Ultra Yen [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ProsharesUltraYenMember" xlink:to="ck0001415311_ProsharesUltraYenMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ProsharesVixMidTermFuturesEtfMember" xlink:label="ck0001415311_ProsharesVixMidTermFuturesEtfMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesVixMidTermFuturesEtfMember_lbl" xml:lang="en-US" id="id_4744066_1130722_3_1">Proshares VIX mid-term futures ETF.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ProsharesVixMidTermFuturesEtfMember_lbl" xml:lang="en-US" id="id_4744066_1130722_1_1">Proshares Vix Mid Term Futures Etf [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesVixMidTermFuturesEtfMember_lbl" xml:lang="en-US" id="id_4744066_1130722_2_1">ProShares VIX Mid-Term Futures ETF [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ProsharesVixMidTermFuturesEtfMember" xlink:to="ck0001415311_ProsharesVixMidTermFuturesEtfMember_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ProsharesVixShortTermFuturesEtfMember_lbl" xml:lang="en-US" id="id_4744066_1022666_3_1">Proshares VIX short-term futures ETF.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ProsharesVixShortTermFuturesEtfMember_lbl" xml:lang="en-US" id="id_4744066_1022666_1_1">Proshares Vix Short Term Futures Etf [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ProsharesVixShortTermFuturesEtfMember_lbl" xml:lang="en-US" id="id_4744066_1022666_2_1">ProShares VIX Short-Term Futures ETF [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ProsharesVixShortTermFuturesEtfMember" xlink:to="ck0001415311_ProsharesVixShortTermFuturesEtfMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_QuarterlyFinancialInformationDisclosureAbstract" xlink:label="us-gaap_QuarterlyFinancialInformationDisclosureAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_QuarterlyFinancialInformationDisclosureAbstract_lbl" xml:lang="en-US" id="id_4744066_928965_2_1">Quarterly Financial Information Disclosure [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_QuarterlyFinancialInformationDisclosureAbstract" xlink:to="us-gaap_QuarterlyFinancialInformationDisclosureAbstract_lbl"/>
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    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_RatiosToAverageNetAssetsAbstract" xlink:label="ck0001415311_RatiosToAverageNetAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_RatiosToAverageNetAssetsAbstract_lbl" xml:lang="en-US" id="id_4744066_944332_3_1">Ratios to average net assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_RatiosToAverageNetAssetsAbstract_lbl" xml:lang="en-US" id="id_4744066_944332_1_1">Ratios To Average Net Assets [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_RatiosToAverageNetAssetsAbstract_lbl" xml:lang="en-US" id="id_4744066_944332_2_1">Ratios to Average Net Assets</label>
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    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_RbcCapitalMarketsMember" xlink:label="ck0001415311_RbcCapitalMarketsMember"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_RbcCapitalMarketsMember" xlink:to="ck0001415311_RbcCapitalMarketsMember_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_RealizedInvestmentGainsLosses_lbl" xml:lang="en-US" id="id_4744066_933419_6_1">Net realized gain (loss)</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ReceivabelFromServiceProvider_lbl" xml:lang="en-US" id="id_4744066_1262903_2_1">Receivable from service provider</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ReceivablesOnOpenFuturesContractsAndUnrealizedAppreciationOnSwapAgreementsMember_lbl" xml:lang="en-US" id="id_4744066_1187188_3_1">Receivables on open futures contracts and unrealized appreciation on swap agreements.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ReceivablesOnOpenFuturesContractsUnrealizedAppreciationOnSwapAndOrForwardContractsMember_lbl" xml:lang="en-US" id="id_4744066_1031752_3_1">Receivables on open futures contracts, unrealized appreciation on swap and/or forward contracts.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ReceivablesOnOpenFuturesContractsUnrealizedAppreciationOnSwapAndOrForwardContractsMember_lbl" xml:lang="en-US" id="id_4744066_1031752_1_1">Receivables On Open Futures Contracts Unrealized Appreciation On Swap And Or Forward Contracts [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ReturnAtMarketValuePerShare_lbl" xml:lang="en-US" id="id_4744066_1088880_3_1">Total return, at market value, per share.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ReturnAtMarketValuePerShare_lbl" xml:lang="en-US" id="id_4744066_1088880_1_1">Return At Market Value Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ReturnAtMarketValuePerShare_lbl" xml:lang="en-US" id="id_4744066_1088880_2_1">Total Return, at market value</label>
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    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ReturnAtNetAssetValuePerShare" xlink:label="ck0001415311_ReturnAtNetAssetValuePerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ReturnAtNetAssetValuePerShare_lbl" xml:lang="en-US" id="id_4744066_980223_3_1">Total return, at net asset value, per share.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_RiskRelatedToChangesInBenchmarkInterestRate_lbl" xml:lang="en-US" id="id_4744066_1113737_3_1">Risk related to changes in benchmark interest rate.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_RiskRelatedToChangesInBenchmarkInterestRate_lbl" xml:lang="en-US" id="id_4744066_1113737_1_1">Risk Related To Changes In Benchmark Interest Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_RiskRelatedToChangesInBenchmarkInterestRate_lbl" xml:lang="en-US" id="id_4744066_1113737_2_1">Leverage risk benchmark</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RisksAndUncertaintiesAbstract" xlink:label="us-gaap_RisksAndUncertaintiesAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RisksAndUncertaintiesAbstract_lbl" xml:lang="en-US" id="id_4744066_931870_2_1">Risks and Uncertainties [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock_lbl" xml:lang="en-US" id="id_4744066_924090_2_1">Fair Value of Derivative Instruments</label>
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    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ScheduleOfGrossAmountNotOffsetOfFinancialDerivativeAssetsAndLiabilitiesTableTextBlock" xlink:label="ck0001415311_ScheduleOfGrossAmountNotOffsetOfFinancialDerivativeAssetsAndLiabilitiesTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ScheduleOfGrossAmountNotOffsetOfFinancialDerivativeAssetsAndLiabilitiesTableTextBlock_lbl" xml:lang="en-US" id="id_4744066_1247640_3_1">Schedule of gross amount not offset of financial derivative assets and liabilities.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentDomain_lbl" xml:lang="en-US" id="id_4744066_932004_1_1">Segment [Domain]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_SegregatedCashBalancesWithBrokersForFuturesContracts_lbl" xml:lang="en-US" id="id_4744066_1038742_3_1">Segregated cash balances with brokers for futures contracts.</label>
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    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_SettlementDate" xlink:label="ck0001415311_SettlementDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_SettlementDate_lbl" xml:lang="en-US" id="id_4744066_1040511_3_1">Settlement date.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ShortFundMember_lbl" xml:lang="en-US" id="id_4744066_1130305_3_1">Short fund.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ShortFundMember_lbl" xml:lang="en-US" id="id_4744066_1130305_2_1">Short Euro Fund [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ShortFundMember" xlink:to="ck0001415311_ShortFundMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ShortTermUSGovernmentAndAgencyObligationsCost" xlink:label="ck0001415311_ShortTermUSGovernmentAndAgencyObligationsCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ShortTermUSGovernmentAndAgencyObligationsCost_lbl" xml:lang="en-US" id="id_4744066_986341_3_1">Short-term U.S. government and agency obligations, cost.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ShortTermUSGovernmentAndAgencyObligationsCost_lbl" xml:lang="en-US" id="id_4744066_986341_1_1">Short Term U S Government And Agency Obligations Cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ShortTermUSGovernmentAndAgencyObligationsCost_lbl" xml:lang="en-US" id="id_4744066_986341_2_1">Debt instrument, maturity date</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_ShortTermUSGovernmentAndAgencyObligationsCost" xlink:to="ck0001415311_ShortTermUSGovernmentAndAgencyObligationsCost_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_ShortTermUSGovernmentAndAgencyObligationsOfShareholdersEquity" xlink:label="ck0001415311_ShortTermUSGovernmentAndAgencyObligationsOfShareholdersEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_ShortTermUSGovernmentAndAgencyObligationsOfShareholdersEquity_lbl" xml:lang="en-US" id="id_4744066_976294_3_1">Short term US government and agency obligations of shareholders equity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_ShortTermUSGovernmentAndAgencyObligationsOfShareholdersEquity_lbl" xml:lang="en-US" id="id_4744066_976294_1_1">Short Term U S Government And Agency Obligations Of Shareholders Equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_ShortTermUSGovernmentAndAgencyObligationsOfShareholdersEquity_lbl" xml:lang="en-US" id="id_4744066_976294_2_1">Short-term U.S. government and agency obligations percentage of shareholders' equity</label>
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    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_SignificantAccountingPoliciesLineItems" xlink:label="ck0001415311_SignificantAccountingPoliciesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_SignificantAccountingPoliciesLineItems_lbl" xml:lang="en-US" id="id_4744066_961708_3_1">Significant accounting policies.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_SignificantAccountingPoliciesLineItems_lbl" xml:lang="en-US" id="id_4744066_961708_1_1">Significant Accounting Policies [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_SignificantAccountingPoliciesLineItems_lbl" xml:lang="en-US" id="id_4744066_961708_2_1">Significant Accounting Policies [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_SignificantAccountingPoliciesLineItems" xlink:to="ck0001415311_SignificantAccountingPoliciesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_SignificantAccountingPoliciesTable" xlink:label="ck0001415311_SignificantAccountingPoliciesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_SignificantAccountingPoliciesTable_lbl" xml:lang="en-US" id="id_4744066_1001815_3_1">Significant accounting policies.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_SignificantAccountingPoliciesTable_lbl" xml:lang="en-US" id="id_4744066_1001815_1_1">Significant Accounting Policies [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_SignificantAccountingPoliciesTable_lbl" xml:lang="en-US" id="id_4744066_1001815_2_1">Significant Accounting Policies [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_SignificantAccountingPoliciesTable" xlink:to="ck0001415311_SignificantAccountingPoliciesTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US" id="id_4744066_931089_1_1">Significant Accounting Policies [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US" id="id_4744066_931089_2_1">Significant Accounting Policies</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_SilverFuturesComexExpiresMayTwoThousandAndFourteenMember" xlink:label="ck0001415311_SilverFuturesComexExpiresMayTwoThousandAndFourteenMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_SilverFuturesComexExpiresMayTwoThousandAndFourteenMember_lbl" xml:lang="en-US" id="id_4744066_1261288_3_1">Silver futures COMEX expires May two thousand and fourteen.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_SilverFuturesComexExpiresMayTwoThousandAndFourteenMember_lbl" xml:lang="en-US" id="id_4744066_1261288_1_1">Silver Futures Comex Expires May Two Thousand And Fourteen [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_SilverFuturesComexExpiresMayTwoThousandAndFourteenMember_lbl" xml:lang="en-US" id="id_4744066_1261288_2_1">Silver Futures Comex Expires May Two Thousand And Fourteen [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_SilverFuturesComexExpiresMayTwoThousandAndFourteenMember" xlink:to="ck0001415311_SilverFuturesComexExpiresMayTwoThousandAndFourteenMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ck0001415311-20140331.xsd#ck0001415311_SocieteGeneraleSaMember" xlink:label="ck0001415311_SocieteGeneraleSaMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_SocieteGeneraleSaMember_lbl" xml:lang="en-US" id="id_4744066_1046274_3_1">Societe Generale S.A.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ck0001415311_SocieteGeneraleSaMember_lbl" xml:lang="en-US" id="id_4744066_1046274_1_1">Societe Generale Sa [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ck0001415311_SocieteGeneraleSaMember_lbl" xml:lang="en-US" id="id_4744066_1046274_2_1">Societe Generale S.A. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ck0001415311_SocieteGeneraleSaMember" xlink:to="ck0001415311_SocieteGeneraleSaMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SponsorFees" xlink:label="us-gaap_SponsorFees"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SponsorFees_lbl" xml:lang="en-US" id="id_4744066_937280_1_1">Sponsor Fees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SponsorFees_lbl" xml:lang="en-US" id="id_4744066_937280_2_1">Limitation by Sponsor</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="us-gaap_StatementBusinessSegmentsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementBusinessSegmentsAxis_lbl" xml:lang="en-US" id="id_4744066_925274_1_1">Statement Business Segments [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementBusinessSegmentsAxis_lbl" xml:lang="en-US" id="id_4744066_925274_2_1">Segments [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementBusinessSegmentsAxis" xlink:to="us-gaap_StatementBusinessSegmentsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US" id="id_4744066_926570_1_1">Statement [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US" id="id_4744066_926570_2_1">Statement [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="us-gaap_StatementOfCashFlowsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US" id="id_4744066_932756_1_1">Statement Of Cash Flows [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US" id="id_4744066_932756_2_1">Statement of Cash Flows [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="us-gaap_StatementOfFinancialPositionAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US" id="id_4744066_924693_1_1">Statement Of Financial Position [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US" id="id_4744066_924693_2_1">Statement of Financial Position [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xml:lang="en-US" id="id_4744066_926289_1_1">Statement Of Stockholders Equity [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xml:lang="en-US" id="id_4744066_926289_2_1">Statement of Stockholders' Equity [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US" id="id_4744066_926771_1_1">Statement [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US" id="id_4744066_926771_2_1">Statement [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" id="id_4744066_934682_1_1">Stockholders Equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" id="id_4744066_934682_4_1">Ending balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" id="id_4744066_934682_5_1">Beginning balance</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ck0001415311_YenWithGoldmanSachsInternationalMember_lbl" xml:lang="en-US" id="id_4744066_971109_3_1">Yen with Goldman Sachs international.</label>
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