v2.4.1.9

Significant Accounting Policies (Tables) | 3 Months Ended
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Mar. 31, 2015
Accounting Policies [Abstract] |
Cut-off Times and Times of Calculation of Funds' Final Net Asset Value for Creation and Redemption of Fund Shares | The cut-off times and the times of the calculation of the Funds’ final net asset value for creation and redemption of fund Shares for the three months ended March 31, 2015 were as follows. All times are Eastern Standard Time:
|  | Create/Redeem |  |  | NAV Calculation |  |  | NAV |
|  | Cut-off* |  |  | Time |  |  | Calculation Date |
UltraShort Silver, Ultra Silver |  |  | 6:30 a.m. |  |  |  | 7:00 a.m. |  |  |  | March 31 |
UltraShort Gold, Ultra Gold |  |  | 9:30 a.m. |  |  |  | 10:00 a.m. |  |  |  | March 31 |
UltraShort Bloomberg Crude Oil, Ultra Bloomberg Crude Oil |  |  | 2:00 p.m. |  |  |  | 2:30 p.m. |  |  |  | March 31 |
UltraShort Bloomberg Natural Gas, Ultra Bloomberg Natural Gas |  |  | 2:00 p.m. |  |  |  | 2:30 p.m. |  |  |  | March 31 |
UltraShort Bloomberg Commodity, Ultra Bloomberg Commodity |  |  | 10:45 a.m. |  |  |  | 2:30 p.m. |  |  |  | March 31 |
Managed Futures Strategy |  |  | 10:45 a.m. |  |  |  | 3:00 p.m. |  |  |  | March 31 |
UltraShort Australian Dollar, Ultra Australian Dollar |  |  | 3:00 p.m. |  |  |  | 4:00 p.m. |  |  |  | March 31 |
Short Euro, UltraShort Euro, Ultra Euro |  |  | 3:00 p.m. |  |  |  | 4:00 p.m. |  |  |  | March 31 |
UltraShort Yen, Ultra Yen |  |  | 3:00 p.m. |  |  |  | 4:00 p.m. |  |  |  | March 31 |
VIX Short-Term Futures ETF, Ultra VIX Short-Term Futures ETF, Short VIX Short-Term Futures ETF |  |  | 2:00 p.m. |  |  |  | 4:15 p.m. |  |  |  | March 31 |
VIX Mid-Term Futures ETF |  |  | 2:00 p.m. |  |  |  | 4:15 p.m. |  |  |  | March 31 |
* | Although the Funds’ Shares may continue to trade on secondary markets subsequent to the calculation of the final NAV, these times represent the final opportunity to transact in creation or redemption units for the three months ended March 31, 2015.
Valuation of Investments using Fair Value Hierarchy | The following table summarizes the valuation of investments at March 31, 2015 using the fair value hierarchy:
|  | Level I - Quoted Prices |  |  | Level II - Other Significant Observable Inputs |  |  |  |
|  | Short-Term U.S. Government and Agencies |  |  | Futures Contracts* |  |  | Forward Agreements |  |  | Foreign Currency Forward Contracts |  |  | Swap Agreements |  |  | Total |
Managed Futures Strategy |  | $ | — |  |  | $ | 83,233 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 83,233 |
VIX Short-Term Futures ETF |  |  | 131,184,020 |  |  |  | (5,106,111 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 126,077,909 |
VIX Mid-Term Futures ETF |  |  | 27,675,412 |  |  |  | (500,390 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 27,175,022 |
Short VIX Short-Term Futures ETF |  |  | 222,919,943 |  |  |  | 6,991,984 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 229,911,927 |
Ultra VIX Short-Term Futures ETF |  |  | 569,900,064 |  |  |  | (48,925,693 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 520,974,371 |
UltraShort Bloomberg Commodity |  |  | 4,990,827 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 276,625 |  |  |  | 5,267,452 |
UltraShort Bloomberg Crude Oil |  |  | 319,733,997 |  |  |  | 17,406,261 |  |  |  | — |  |  |  | — |  |  |  | 26,857,473 |  |  |  | 363,997,731 |
UltraShort Bloomberg Natural Gas |  |  | 8,979,498 |  |  |  | 859,740 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 9,839,238 |
UltraShort Gold |  |  | 79,438,219 |  |  |  | (6,040 | ) |  |  | (1,582,081 | ) |  |  | — |  |  |  | — |  |  |  | 77,850,098 |
UltraShort Silver |  |  | 50,001,670 |  |  |  | 3,095 |  |  |  | (3,736,183 | ) |  |  | — |  |  |  | — |  |  |  | 46,268,582 |
Short Euro |  |  | 18,012,179 |  |  |  | 109,769 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 18,121,948 |
UltraShort Australian Dollar |  |  | 16,932,493 |  |  |  | 419,850 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 17,352,343 |
UltraShort Euro |  |  | 549,451,431 |  |  |  | — |  |  |  | — |  |  |  | 23,390,195 |  |  |  | — |  |  |  | 572,841,626 |
UltraShort Yen |  |  | 444,090,783 |  |  |  | — |  |  |  | — |  |  |  | 667,757 |  |  |  | — |  |  |  | 444,758,540 |
Ultra Bloomberg Commodity |  |  | 2,242,809 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (129,433 | ) |  |  | 2,113,376 |
Ultra Bloomberg Crude Oil |  |  | 1,066,114,169 |  |  |  | (63,863,441 | ) |  |  | — |  |  |  | — |  |  |  | (78,474,219 | ) |  |  | 923,776,509 |
Ultra Bloomberg Natural Gas |  |  | 57,169,841 |  |  |  | (7,437,631 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 49,732,210 |
Ultra Gold |  |  | 94,234,586 |  |  |  | 6,020 |  |  |  | 1,660,968 |  |  |  | — |  |  |  | — |  |  |  | 95,901,574 |
Ultra Silver |  |  | 294,501,633 |  |  |  | (3,320 | ) |  |  | 22,620,868 |  |  |  | — |  |  |  | — |  |  |  | 317,119,181 |
Ultra Australian Dollar |  |  | 2,201,920 |  |  |  | (57,414 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,144,506 |
Ultra Euro |  |  | 15,242,869 |  |  |  | — |  |  |  | — |  |  |  | (778,750 | ) |  |  | — |  |  |  | 14,464,119 |
Ultra Yen |  |  | 5,210,191 |  |  |  | — |  |  |  | — |  |  |  | (41,178 | ) |  |  | — |  |  |  | 5,169,013 |
Total Trust |  | $ | 3,980,228,554 |  |  | $ | (100,020,088 | ) |  | $ | 18,963,572 |  |  | $ | 23,238,024 |  |  | $ | (51,469,554 | ) |  | $ | 3,870,940,508 |
* | Includes cumulative appreciation/depreciation of futures contracts as reported in the Schedules of Investments. Only current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures.
The following table summarizes the valuation of investments at December 31, 2014 using the fair value hierarchy:
|  | Level I - Quoted Prices |  |  | Level II - Other Significant Observable Inputs |  |  |  |
|  | Short-Term U.S. Government and Agencies |  |  | Futures Contracts* |  |  | Forward Agreements |  |  | Foreign Currency Forward Contracts |  |  | Swap Agreements |  |  | Total |
Managed Futures Strategy |  | $ | — |  |  | $ | 104,327 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 104,327 |
VIX Short-Term Futures ETF |  |  | 82,088,299 |  |  |  | 6,264,620 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 88,352,919 |
VIX Mid-Term Futures ETF |  |  | 24,105,906 |  |  |  | 260,665 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 24,366,571 |
Short VIX Short-Term Futures ETF |  |  | 446,975,220 |  |  |  | (16,352,149 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 430,623,071 |
Ultra VIX Short-Term Futures ETF |  |  | 182,639,188 |  |  |  | 39,585,253 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 222,224,441 |
UltraShort Bloomberg Commodity |  |  | 4,233,548 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 567,259 |  |  |  | 4,800,807 |
UltraShort Bloomberg Crude Oil |  |  | 131,594,608 |  |  |  | 15,806,603 |  |  |  | — |  |  |  | — |  |  |  | 27,018,077 |  |  |  | 174,419,288 |
UltraShort Bloomberg Natural Gas |  |  | 8,672,710 |  |  |  | 3,941,465 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 12,614,175 |
UltraShort Gold |  |  | 84,040,107 |  |  |  | (4,520 | ) |  |  | (2,282,778 | ) |  |  | — |  |  |  | — |  |  |  | 81,752,809 |
UltraShort Silver |  |  | 52,226,692 |  |  |  | 1,560 |  |  |  | 594,953 |  |  |  | — |  |  |  | — |  |  |  | 52,823,205 |
Short Euro |  |  | 12,086,577 |  |  |  | 385,331 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 12,471,908 |
UltraShort Australian Dollar |  |  | 20,267,679 |  |  |  | 743,481 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 21,011,160 |
UltraShort Euro |  |  | 487,111,117 |  |  |  | — |  |  |  | — |  |  |  | 16,762,994 |  |  |  | — |  |  |  | 503,874,111 |
UltraShort Yen |  |  | 532,957,746 |  |  |  | — |  |  |  | — |  |  |  | (1,578,775 | ) |  |  | — |  |  |  | 531,378,971 |
Ultra Bloomberg Commodity |  |  | 2,754,900 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (331,338 | ) |  |  | 2,423,562 |
Ultra Bloomberg Crude Oil |  |  | 467,200,736 |  |  |  | (46,474,787 | ) |  |  | — |  |  |  | — |  |  |  | (76,181,097 | ) |  |  | 344,544,852 |
Ultra Bloomberg Natural Gas |  |  | 53,410,227 |  |  |  | (34,889,283 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 18,520,944 |
Ultra Gold |  |  | 101,927,857 |  |  |  | 4,580 |  |  |  | 2,051,154 |  |  |  | — |  |  |  | — |  |  |  | 103,983,591 |
Ultra Silver |  |  | 305,474,211 |  |  |  | (1,560 | ) |  |  | (12,395,120 | ) |  |  | — |  |  |  | — |  |  |  | 293,077,531 |
Ultra Australian Dollar |  |  | 2,405,685 |  |  |  | (96,825 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,308,860 |
Ultra Euro |  |  | 2,415,698 |  |  |  | — |  |  |  | — |  |  |  | (103,371 | ) |  |  | — |  |  |  | 2,312,327 |
Ultra Yen |  |  | 1,287,869 |  |  |  | — |  |  |  | — |  |  |  | (15,245 | ) |  |  | — |  |  |  | 1,272,624 |
Total Trust |  | $ | 3,005,876,580 |  |  | $ | (30,721,239 | ) |  | $ | (12,031,791 | ) |  | $ | 15,065,603 |  |  | $ | (48,927,099 | ) |  | $ | 2,929,262,054 |
* | Includes cumulative appreciation/depreciation of futures contracts as reported in the Schedules of Investments as presented in the Form 10-K for the year ended December 31, 2014. Only current day’s variation margin is reported within the Statements of Financial Condition as presented in the Form 10-K for the year ended December 31, 2014 in receivable/payable on open futures.

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