| Financial Highlights |
NOTE 7 – FINANCIAL HIGHLIGHTS
Selected data for a Share outstanding throughout the three
months ended September 30, 2017:
For the Three Months Ended September 30,
2017 (unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per Share Operating Performance
|
|
VIX Short-Term
Futures ETF* |
|
|
VIX Mid-Term
Futures ETF |
|
|
Short VIX
Short-Term
Futures ETF* |
|
|
Ultra VIX
Short-Term
Futures ETF* |
|
|
UltraShort
Bloomberg
Crude Oil |
|
|
UltraPro 3X
Short Crude
Oil ETF |
|
|
Net asset value, at June 30, 2017
|
|
$ |
42.69 |
|
|
$ |
27.46 |
|
|
$ |
80.11 |
|
|
$ |
39.32 |
|
|
$ |
43.43 |
|
|
$ |
26.46 |
|
|
Net investment income (loss)
|
|
|
(0.01 |
) |
|
|
(0.01 |
) |
|
|
(0.13 |
) |
|
|
(0.09 |
) |
|
|
0.00 |
(1) |
|
|
(0.07 |
) |
|
Net realized and unrealized gain (loss)#
|
|
|
(10.11 |
) |
|
|
(2.25 |
) |
|
|
13.70 |
|
|
|
(18.59 |
) |
|
|
(9.83 |
) |
|
|
(8.87 |
) |
|
Change in net asset value from operations
|
|
|
(10.12 |
) |
|
|
(2.26 |
) |
|
|
13.57 |
|
|
|
(18.68 |
) |
|
|
(9.83 |
) |
|
|
(8.94 |
) |
|
Net asset value, at September 30, 2017
|
|
$ |
32.57 |
|
|
$ |
25.20 |
|
|
$ |
93.68 |
|
|
$ |
20.64 |
|
|
$ |
33.60 |
|
|
$ |
17.52 |
|
|
Market value per share, at June 30, 2017†
|
|
$ |
42.52 |
|
|
$ |
27.43 |
|
|
$ |
80.64 |
|
|
$ |
38.96 |
|
|
$ |
43.21 |
|
|
$ |
26.24 |
|
|
Market value per share, at September 30, 2017†
|
|
$ |
32.53 |
|
|
$ |
25.17 |
|
|
$ |
93.75 |
|
|
$ |
20.60 |
|
|
$ |
33.73 |
|
|
$ |
17.63 |
|
|
Total Return, at net asset value^
|
|
|
(23.7 |
)% |
|
|
(8.2 |
)% |
|
|
16.9 |
% |
|
|
(47.5 |
)% |
|
|
(22.6 |
)% |
|
|
(33.8 |
)% |
|
Total Return, at market value^
|
|
|
(23.5 |
)% |
|
|
(8.2 |
)% |
|
|
16.3 |
% |
|
|
(47.1 |
)% |
|
|
(21.9 |
)% |
|
|
(32.8 |
)% |
|
Ratios to Average Net Assets**
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expense ratio
|
|
|
0.98 |
% |
|
|
0.92 |
% |
|
|
1.50 |
% |
|
|
2.00 |
% |
|
|
0.99 |
% |
|
|
1.31 |
% |
|
Expense ratio, excluding brokerage commissions
|
|
|
0.85 |
% |
|
|
0.85 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Net investment income (loss)
|
|
|
(0.14 |
)% |
|
|
(0.17 |
)% |
|
|
(0.66 |
)% |
|
|
(1.21 |
)% |
|
|
(0.03 |
)% |
|
|
(1.31 |
)% |
| * |
See Note 1 of these Notes to
Financial Statements. |
| # |
The amount shown for a share
outstanding throughout the period may not accord with the change in
aggregate gains and losses during the period because of timing of
creation and redemption units in relation to fluctuating net asset
value during the period. |
| † |
Market values are determined at the
close of the New York Stock Exchange, which may be later than when
the Funds’ net asset value is calculated. |
| ^ |
Percentages are not annualized for
the period ended September 30, 2017. |
| ** |
Percentages are annualized. |
| (1) |
Amount represents less than
$0.005. |
For the Three Months Ended September 30,
2017 (unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per Share Operating Performance
|
|
UltraShort
Bloomberg
Natural Gas |
|
|
UltraShort Gold |
|
|
UltraShort
Silver |
|
|
Short
Euro |
|
|
UltraShort
Australian
Dollar |
|
|
UltraShort
Euro |
|
|
Net asset value, at June 30, 2017
|
|
$ |
33.16 |
|
|
$ |
76.30 |
|
|
$ |
34.75 |
|
|
$ |
41.74 |
|
|
$ |
47.90 |
|
|
$ |
23.12 |
|
|
Net investment income (loss)
|
|
|
(0.06 |
) |
|
|
(0.00 |
)(2) |
|
|
(0.00 |
)(2) |
|
|
(0.01 |
) |
|
|
(0.01 |
) |
|
|
0.00 |
(1) |
|
Net realized and unrealized gain (loss)#
|
|
|
0.77 |
|
|
|
(5.02 |
) |
|
|
(2.76 |
) |
|
|
(1.26 |
) |
|
|
(2.26 |
) |
|
|
(1.43 |
) |
|
Change in net asset value from operations
|
|
|
0.71 |
|
|
|
(5.02 |
) |
|
|
(2.76 |
) |
|
|
(1.27 |
) |
|
|
(2.27 |
) |
|
|
(1.43 |
) |
|
Net asset value, at September 30, 2017
|
|
$ |
33.87 |
|
|
$ |
71.28 |
|
|
$ |
31.99 |
|
|
$ |
40.47 |
|
|
$ |
45.63 |
|
|
$ |
21.69 |
|
|
Market value per share, at June 30, 2017†
|
|
$ |
33.33 |
|
|
$ |
76.37 |
|
|
$ |
34.09 |
|
|
$ |
41.71 |
|
|
$ |
47.80 |
|
|
$ |
23.12 |
|
|
Market value per share, at September 30, 2017†
|
|
$ |
33.64 |
|
|
$ |
71.55 |
|
|
$ |
32.78 |
|
|
$ |
40.56 |
|
|
$ |
45.85 |
|
|
$ |
21.68 |
|
|
Total Return, at net asset value^
|
|
|
2.1 |
% |
|
|
(6.6 |
)% |
|
|
(7.9 |
)% |
|
|
(3.0 |
)% |
|
|
(4.7 |
)% |
|
|
(6.2 |
)% |
|
Total Return, at market value^
|
|
|
0.9 |
% |
|
|
(6.3 |
)% |
|
|
(3.8 |
)% |
|
|
(2.8 |
)% |
|
|
(4.1 |
)% |
|
|
(6.2 |
)% |
|
Ratios to Average Net Assets**
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expense ratio
|
|
|
1.34 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.96 |
% |
|
|
1.01 |
% |
|
|
0.95 |
% |
|
Expense ratio, excluding brokerage commissions
|
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Net investment income (loss)
|
|
|
(0.73 |
)% |
|
|
(0.01 |
)% |
|
|
(0.05 |
)% |
|
|
(0.14 |
)% |
|
|
(0.13 |
)% |
|
|
0.04 |
% |
| # |
The amount shown for a share
outstanding throughout the period may not accord with the change in
aggregate gains and losses during the period because of timing of
creation and redemption units in relation to fluctuating net asset
value during the period. |
| † |
Market values are determined at the
close of the New York Stock Exchange, which may be later than when
the Funds’ net asset value is calculated. |
| ^ |
Percentages are not annualized for
the period ended September 30, 2017. |
| ** |
Percentages are annualized. |
| (1) |
Amount represents less than
$0.005. |
| (2) |
Amount represents less than
$(0.005). |
For the Three Months Ended September 30,
2017 (unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per Share Operating Performance
|
|
UltraShort Yen |
|
|
Ultra
Bloomberg
Crude Oil |
|
|
UltraPro 3X
Crude Oil ETF |
|
|
Ultra
Bloomberg
Natural Gas |
|
|
Ultra Gold |
|
|
Ultra Silver |
|
|
Net asset value, at June 30, 2017
|
|
$ |
74.07 |
|
|
$ |
14.80 |
|
|
$ |
19.52 |
|
|
$ |
9.77 |
|
|
$ |
37.75 |
|
|
$ |
33.23 |
|
|
Net investment income (loss)
|
|
|
0.01 |
|
|
|
(0.00 |
)(2) |
|
|
(0.07 |
) |
|
|
(0.01 |
) |
|
|
0.00 |
(1) |
|
|
0.00 |
(1) |
|
Net realized and unrealized gain (loss)#
|
|
|
0.18 |
|
|
|
3.10 |
|
|
|
5.82 |
|
|
|
(1.02 |
) |
|
|
2.07 |
|
|
|
0.79 |
|
|
Change in net asset value from operations
|
|
|
0.19 |
|
|
|
3.10 |
|
|
|
5.75 |
|
|
|
(1.03 |
) |
|
|
2.07 |
|
|
|
0.79 |
|
|
Net asset value, at September 30, 2017
|
|
$ |
74.26 |
|
|
$ |
17.90 |
|
|
$ |
25.27 |
|
|
$ |
8.74 |
|
|
$ |
39.82 |
|
|
$ |
34.02 |
|
|
Market value per share, at June 30, 2017†
|
|
$ |
74.05 |
|
|
$ |
14.86 |
|
|
$ |
19.68 |
|
|
$ |
9.74 |
|
|
$ |
37.68 |
|
|
$ |
33.82 |
|
|
Market value per share, at September 30, 2017†
|
|
$ |
74.21 |
|
|
$ |
17.82 |
|
|
$ |
25.09 |
|
|
$ |
8.80 |
|
|
$ |
39.60 |
|
|
$ |
33.15 |
|
|
Total Return, at net asset value^
|
|
|
0.3 |
% |
|
|
20.9 |
% |
|
|
29.5 |
% |
|
|
(10.5 |
)% |
|
|
5.5 |
% |
|
|
2.4 |
% |
|
Total Return, at market value^
|
|
|
0.2 |
% |
|
|
19.9 |
% |
|
|
27.5 |
% |
|
|
(9.7 |
)% |
|
|
5.1 |
% |
|
|
(2.0 |
)% |
|
Ratios to Average Net Assets**
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expense ratio
|
|
|
0.95 |
% |
|
|
0.97 |
% |
|
|
1.24 |
% |
|
|
1.16 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Expense ratio, excluding brokerage commissions
|
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Net investment income (loss)
|
|
|
0.03 |
% |
|
|
(0.01 |
)% |
|
|
(1.24 |
)% |
|
|
(0.37 |
)% |
|
|
0.03 |
% |
|
|
0.00 |
%(3) |
| # |
The amount shown for a share
outstanding throughout the period may not accord with the change in
aggregate gains and losses during the period because of timing of
creation and redemption units in relation to fluctuating net asset
value during the period. |
| † |
Market values are determined at the
close of the New York Stock Exchange, which may be later than when
the Funds’ net asset value is calculated. |
| ^ |
Percentages are not annualized for
the period ended September 30, 2017. |
| ** |
Percentages are annualized. |
| (1) |
Amount represents less than
$0.005. |
| (2) |
Amount represents less than
$(0.005). |
| (3) |
Amount represents less than
0.005%. |
For the Three Months Ended September 30,
2017 (unaudited)
|
|
|
|
|
|
|
|
|
|
Per Share Operating Performance
|
|
Ultra Euro |
|
|
Ultra Yen |
|
|
Net asset value, at June 30, 2017
|
|
$ |
16.16 |
|
|
$ |
58.68 |
|
|
Net investment income (loss)
|
|
|
(0.00 |
)(2) |
|
|
(0.04 |
) |
|
Net realized and unrealized gain (loss)#
|
|
|
0.97 |
|
|
|
(0.57 |
) |
|
Change in net asset value from operations
|
|
|
0.97 |
|
|
|
(0.61 |
) |
|
Net asset value, at September 30, 2017
|
|
$ |
17.13 |
|
|
$ |
58.07 |
|
|
Market value per share, at June 30, 2017†
|
|
$ |
16.17 |
|
|
$ |
58.68 |
|
|
Market value per share, at September 30, 2017†
|
|
$ |
17.10 |
|
|
$ |
58.17 |
|
|
Total Return, at net asset value^
|
|
|
6.0 |
% |
|
|
(1.0 |
)% |
|
Total Return, at market value^
|
|
|
5.8 |
% |
|
|
(0.9 |
)% |
|
Ratios to Average Net Assets**
|
|
|
|
|
|
|
|
|
|
Expense ratio
|
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Expense ratio, excluding brokerage commissions
|
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Net investment income (loss)
|
|
|
(0.04 |
)% |
|
|
(0.28 |
)% |
| # |
The amount shown for a share
outstanding throughout the period may not accord with the change in
aggregate gains and losses during the period because of timing of
creation and redemption units in relation to fluctuating net asset
value during the period. |
| † |
Market values are determined at the
close of the New York Stock Exchange, which may be later than when
the Funds’ net asset value is calculated. |
| ^ |
Percentages are not annualized for
the period ended September 30, 2017. |
| ** |
Percentages are annualized. |
| (2) |
Amount represents less than
$(0.005). |
Selected data for a Share outstanding throughout the three
months ended September 30, 2016:
For the Three Months Ended September 30,
2016 (unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per Share Operating Performance
|
|
VIX Short-Term
Futures ETF* |
|
|
VIX Mid-Term
Futures ETF |
|
|
Short VIX
Short-Term
Futures ETF* |
|
|
Ultra VIX
Short-Term
Futures ETF* |
|
|
UltraShort
Bloomberg
Crude Oil* |
|
|
UltraShort
Bloomberg
Natural Gas |
|
|
Net asset value, at June 30, 2016
|
|
$ |
180.57 |
|
|
$ |
51.98 |
|
|
$ |
24.92 |
|
|
$ |
912.60 |
|
|
$ |
40.97 |
|
|
$ |
34.09 |
|
|
Net investment income (loss)
|
|
|
(0.24 |
) |
|
|
(0.09 |
) |
|
|
(0.09 |
) |
|
|
(1.64 |
) |
|
|
(0.09 |
) |
|
|
(0.13 |
) |
|
Net realized and unrealized gain
(loss)#
|
|
|
(66.20 |
) |
|
|
(6.14 |
) |
|
|
11.49 |
|
|
|
(572.92 |
) |
|
|
(0.88 |
) |
|
|
2.36 |
|
|
Change in net asset value from operations
|
|
|
(66.44 |
) |
|
|
(6.23 |
) |
|
|
11.40 |
|
|
|
(574.56 |
) |
|
|
(0.97 |
) |
|
|
2.23 |
|
|
Net asset value, at September 30, 2016
|
|
$ |
114.13 |
|
|
$ |
45.75 |
|
|
$ |
36.32 |
|
|
$ |
338.04 |
|
|
$ |
40.00 |
|
|
$ |
36.32 |
|
|
Market value per share, at June 30, 2016†
|
|
$ |
183.20 |
|
|
$ |
52.53 |
|
|
$ |
24.53 |
|
|
$ |
943.00 |
|
|
$ |
40.81 |
|
|
$ |
34.06 |
|
|
Market value per share, at September 30, 2016†
|
|
$ |
113.32 |
|
|
$ |
45.69 |
|
|
$ |
36.61 |
|
|
$ |
333.00 |
|
|
$ |
40.45 |
|
|
$ |
36.14 |
|
|
Total Return, at net asset value^
|
|
|
(36.8 |
)% |
|
|
(12.0 |
)% |
|
|
45.7 |
% |
|
|
(63.0 |
)% |
|
|
(2.4 |
)% |
|
|
6.5 |
% |
|
Total Return, at market value^
|
|
|
(38.1 |
)% |
|
|
(13.0 |
)% |
|
|
49.2 |
% |
|
|
(64.7 |
)% |
|
|
(0.9 |
)% |
|
|
6.1 |
% |
|
Ratios to Average Net Assets**
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expense ratio
|
|
|
0.99 |
% |
|
|
0.94 |
% |
|
|
1.42 |
% |
|
|
1.59 |
% |
|
|
1.01 |
% |
|
|
1.58 |
% |
|
Expense ratio, excluding brokerage commissions
|
|
|
0.85 |
% |
|
|
0.85 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Net investment income (loss)
|
|
|
(0.73 |
)% |
|
|
(0.70 |
)% |
|
|
(1.17 |
)% |
|
|
(1.36 |
)% |
|
|
(0.75 |
)% |
|
|
(1.40 |
)% |
| * |
See Note 1 of these Notes to
Financial Statements. |
| # |
The amount shown for a share
outstanding throughout the period may not accord with the change in
aggregate gains and losses during the period because of timing of
creation and redemption units in relation to fluctuating net asset
value during the period. |
| † |
Market values are determined at the
close of the New York Stock Exchange, which may be later than when
the Funds’ net asset value is calculated. |
| ^ |
Percentages are not annualized for
the period ended September 30, 2016. |
| ** |
Percentages are annualized. |
For the Three Months Ended September 30,
2016 (unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per Share Operating Performance
|
|
UltraShort Gold |
|
|
UltraShort
Silver |
|
|
Short Euro |
|
|
UltraShort
Australian
Dollar |
|
|
UltraShort Euro |
|
|
UltraShort Yen |
|
|
Net asset value, at June 30, 2016
|
|
$ |
70.31 |
|
|
$ |
33.16 |
|
|
$ |
42.81 |
|
|
$ |
53.47 |
|
|
$ |
24.32 |
|
|
$ |
63.53 |
|
|
Net investment income (loss)
|
|
|
(0.12 |
) |
|
|
(0.05 |
) |
|
|
(0.08 |
) |
|
|
(0.10 |
) |
|
|
(0.04 |
) |
|
|
(0.11 |
) |
|
Net realized and unrealized gain (loss)#
|
|
|
(0.58 |
) |
|
|
(5.17 |
) |
|
|
(0.51 |
) |
|
|
(3.69 |
) |
|
|
(0.50 |
) |
|
|
(2.74 |
) |
|
Change in net asset value from operations
|
|
|
(0.70 |
) |
|
|
(5.22 |
) |
|
|
(0.59 |
) |
|
|
(3.79 |
) |
|
|
(0.54 |
) |
|
|
(2.85 |
) |
|
Net asset value, at September 30, 2016
|
|
$ |
69.61 |
|
|
$ |
27.94 |
|
|
$ |
42.22 |
|
|
$ |
49.68 |
|
|
$ |
23.78 |
|
|
$ |
60.68 |
|
|
Market value per share, at June 30, 2016†
|
|
$ |
70.00 |
|
|
$ |
31.65 |
|
|
$ |
42.81 |
|
|
$ |
53.47 |
|
|
$ |
24.32 |
|
|
$ |
63.53 |
|
|
Market value per share, at September 30, 2016†
|
|
$ |
70.19 |
|
|
$ |
28.41 |
|
|
$ |
42.22 |
|
|
$ |
49.67 |
|
|
$ |
23.76 |
|
|
$ |
60.64 |
|
|
Total Return, at net asset value^
|
|
|
(1.0 |
)% |
|
|
(15.8 |
)% |
|
|
(1.4 |
)% |
|
|
(7.1 |
)% |
|
|
(2.2 |
)% |
|
|
(4.5 |
)% |
|
Total Return, at market value^
|
|
|
0.3 |
% |
|
|
(10.2 |
)% |
|
|
(1.4 |
)% |
|
|
(7.1 |
)% |
|
|
(2.3 |
)% |
|
|
(4.5 |
)% |
|
Ratios to Average Net Assets**
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expense ratio
|
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.96 |
% |
|
|
1.02 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Expense ratio, excluding brokerage commissions
|
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Net investment income (loss)
|
|
|
(0.69 |
)% |
|
|
(0.70 |
)% |
|
|
(0.75 |
)% |
|
|
(0.75 |
)% |
|
|
(0.69 |
)% |
|
|
(0.69 |
)% |
| # |
The amount shown for a share
outstanding throughout the period may not accord with the change in
aggregate gains and losses during the period because of timing of
creation and redemption units in relation to fluctuating net asset
value during the period. |
| † |
Market values are determined at the
close of the New York Stock Exchange, which may be later than when
the Funds’ net asset value is calculated. |
| ^ |
Percentages are not annualized for
the period ended September 30, 2016. |
| ** |
Percentages are annualized. |
For the Three Months Ended September 30,
2016 (unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per Share Operating Performance
|
|
Ultra
Bloomberg
Crude Oil* |
|
|
Ultra
Bloomberg
Natural Gas |
|
|
Ultra Gold |
|
|
Ultra Silver |
|
|
Ultra Euro |
|
|
Ultra Yen |
|
|
Net asset value, at June 30, 2016
|
|
$ |
24.33 |
|
|
$ |
17.75 |
|
|
$ |
44.80 |
|
|
$ |
45.53 |
|
|
$ |
15.89 |
|
|
$ |
72.67 |
|
|
Net investment income (loss)
|
|
|
(0.04 |
) |
|
|
(0.04 |
) |
|
|
(0.08 |
) |
|
|
(0.09 |
) |
|
|
(0.03 |
) |
|
|
(0.13 |
) |
|
Net realized and unrealized gain (loss)#
|
|
|
(3.27 |
) |
|
|
(3.23 |
) |
|
|
(0.30 |
) |
|
|
3.56 |
|
|
|
0.27 |
|
|
|
1.92 |
|
|
Change in net asset value from operations
|
|
|
(3.31 |
) |
|
|
(3.27 |
) |
|
|
(0.38 |
) |
|
|
3.47 |
|
|
|
0.24 |
|
|
|
1.79 |
|
|
Net asset value, at September 30, 2016
|
|
$ |
21.02 |
|
|
$ |
14.48 |
|
|
$ |
44.42 |
|
|
$ |
49.00 |
|
|
$ |
16.13 |
|
|
$ |
74.46 |
|
|
Market value per share, at June 30, 2016†
|
|
$ |
24.44 |
|
|
$ |
17.65 |
|
|
$ |
45.03 |
|
|
$ |
47.67 |
|
|
$ |
15.86 |
|
|
$ |
72.71 |
|
|
Market value per share, at September 30, 2016†
|
|
$ |
20.76 |
|
|
$ |
14.58 |
|
|
$ |
44.01 |
|
|
$ |
48.11 |
|
|
$ |
16.12 |
|
|
$ |
74.48 |
|
|
Total Return, at net asset value^
|
|
|
(13.6 |
)% |
|
|
(18.4 |
)% |
|
|
(0.8 |
)% |
|
|
7.6 |
% |
|
|
1.5 |
% |
|
|
2.5 |
% |
|
Total Return, at market value^
|
|
|
(15.1 |
)% |
|
|
(17.4 |
)% |
|
|
(2.3 |
)% |
|
|
0.9 |
% |
|
|
1.6 |
% |
|
|
2.4 |
% |
|
Ratios to Average Net Assets**
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expense ratio
|
|
|
1.00 |
% |
|
|
1.23 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Expense ratio, excluding brokerage commissions
|
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Net investment income (loss)
|
|
|
(0.75 |
)% |
|
|
(1.03 |
)% |
|
|
(0.67 |
)% |
|
|
(0.68 |
)% |
|
|
(0.69 |
)% |
|
|
(0.70 |
)% |
| * |
See Note 1 of these Notes to
Financial Statements. |
| # |
The amount shown for a share
outstanding throughout the period may not accord with the change in
aggregate gains and losses during the period because of timing of
creation and redemption units in relation to fluctuating net asset
value during the period. |
| † |
Market values are determined at the
close of the New York Stock Exchange, which may be later than when
the Funds’ net asset value is calculated. |
| ^ |
Percentages are not annualized for
the period ended September 30, 2016. |
| ** |
Percentages are annualized. |
Selected data for a Share outstanding throughout the nine months
ended September 30, 2017:
For the Nine Months Ended September 30,
2017 (unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per Share Operating Performance
|
|
VIX Short-Term
Futures ETF* |
|
|
VIX Mid-Term
Futures ETF |
|
|
Short VIX
Short-Term
Futures ETF* |
|
|
Ultra VIX
Short-Term
Futures ETF* |
|
|
UltraShort
Bloomberg
Crude Oil |
|
|
UltraPro 3X
Short Crude Oil
ETF+ |
|
|
Net asset value, at December 31, 2016
|
|
$ |
84.86 |
|
|
$ |
42.14 |
|
|
$ |
45.62 |
|
|
$ |
173.93 |
|
|
$ |
31.70 |
|
|
$ |
25.00 |
|
|
Net investment income (loss)
|
|
|
(0.11 |
) |
|
|
(0.07 |
) |
|
|
(0.45 |
) |
|
|
(0.43 |
) |
|
|
(0.08 |
) |
|
|
(0.16 |
) |
|
Net realized and unrealized gain (loss)#
|
|
|
(52.18 |
) |
|
|
(16.87 |
) |
|
|
48.51 |
|
|
|
(152.86 |
) |
|
|
1.98 |
|
|
|
(7.32 |
) |
|
Change in net asset value from operations
|
|
|
(52.29 |
) |
|
|
(16.94 |
) |
|
|
48.06 |
|
|
|
(153.29 |
) |
|
|
1.90 |
|
|
|
(7.48 |
) |
|
Net asset value, at September 30, 2017
|
|
$ |
32.57 |
|
|
$ |
25.20 |
|
|
$ |
93.68 |
|
|
$ |
20.64 |
|
|
$ |
33.60 |
|
|
$ |
17.52 |
|
|
Market value per share, at December 31, 2016†
|
|
$ |
85.04 |
|
|
$ |
42.34 |
|
|
$ |
45.49 |
|
|
$ |
175.00 |
|
|
$ |
31.65 |
|
|
$ |
25.00 |
|
|
Market value per share, at September 30, 2017†
|
|
$ |
32.53 |
|
|
$ |
25.17 |
|
|
$ |
93.75 |
|
|
$ |
20.60 |
|
|
$ |
33.73 |
|
|
$ |
17.63 |
|
|
Total Return, at net asset value^
|
|
|
(61.6 |
)% |
|
|
(40.2 |
)% |
|
|
105.3 |
% |
|
|
(88.1 |
)% |
|
|
6.0 |
% |
|
|
(29.9 |
)% |
|
Total Return, at market value^
|
|
|
(61.7 |
)% |
|
|
(40.6 |
)% |
|
|
106.1 |
% |
|
|
(88.2 |
)% |
|
|
6.6 |
% |
|
|
(29.5 |
)% |
|
Ratios to Average Net Assets**
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expense ratio
|
|
|
0.97 |
% |
|
|
0.89 |
% |
|
|
1.52 |
% |
|
|
1.88 |
% |
|
|
0.99 |
% |
|
|
1.34 |
% |
|
Expense ratio, excluding brokerage commissions
|
|
|
0.85 |
% |
|
|
0.85 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Net investment income (loss)
|
|
|
(0.30 |
)% |
|
|
(0.30 |
)% |
|
|
(0.80 |
)% |
|
|
(1.28 |
)% |
|
|
(0.29 |
)% |
|
|
(1.34 |
)% |
| * |
See Note 1 of these Notes to
Financial Statements. |
| + |
From commencement of operations,
March 24, 2017 through September 30, 2017. |
| # |
The amount shown for a share
outstanding throughout the period may not accord with the change in
aggregate gains and losses during the period because of timing of
creation and redemption units in relation to fluctuating net asset
value during the period. |
| † |
Market values are determined at the
close of the New York Stock Exchange, which may be later than when
the Funds’ net asset value is calculated. For ProShares
UltraPro 3x Short Crude Oil ETF, the returns of shares outstanding
for the period from commencement of operations through
September 30, 2017 are calculated based on the initial
offering price upon commencement of operations of $25.00. |
| ^ |
Percentages are not annualized for
the period ended September 30, 2017. |
| ** |
Percentages are annualized. |
For the Nine Months Ended September 30,
2017 (unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per Share Operating Performance
|
|
UltraShort
Bloomberg
Natural Gas |
|
|
UltraShort Gold |
|
|
UltraShort
Silver |
|
|
Short Euro |
|
|
UltraShort
Australian
Dollar |
|
|
UltraShort Euro |
|
|
Net asset value, at December 31, 2016
|
|
$ |
23.10 |
|
|
$ |
91.33 |
|
|
$ |
37.31 |
|
|
$ |
45.06 |
|
|
$ |
55.38 |
|
|
$ |
27.08 |
|
|
Net investment income (loss)
|
|
|
(0.20 |
) |
|
|
(0.13 |
) |
|
|
(0.06 |
) |
|
|
(0.12 |
) |
|
|
(0.15 |
) |
|
|
(0.04 |
) |
|
Net realized and unrealized gain (loss)#
|
|
|
10.97 |
|
|
|
(19.92 |
) |
|
|
(5.26 |
) |
|
|
(4.47 |
) |
|
|
(9.60 |
) |
|
|
(5.35 |
) |
|
Change in net asset value from operations
|
|
|
10.77 |
|
|
|
(20.05 |
) |
|
|
(5.32 |
) |
|
|
(4.59 |
) |
|
|
(9.75 |
) |
|
|
(5.39 |
) |
|
Net asset value, at September 30, 2017
|
|
$ |
33.87 |
|
|
$ |
71.28 |
|
|
$ |
31.99 |
|
|
$ |
40.47 |
|
|
$ |
45.63 |
|
|
$ |
21.69 |
|
|
Market value per share, at December 31, 2016†
|
|
$ |
23.05 |
|
|
$ |
90.54 |
|
|
$ |
38.76 |
|
|
$ |
45.12 |
|
|
$ |
55.24 |
|
|
$ |
27.08 |
|
|
Market value per share, at September 30, 2017†
|
|
$ |
33.64 |
|
|
$ |
71.55 |
|
|
$ |
32.78 |
|
|
$ |
40.56 |
|
|
$ |
45.85 |
|
|
$ |
21.68 |
|
|
Total Return, at net asset value^
|
|
|
46.6 |
% |
|
|
(22.0 |
)% |
|
|
(14.3 |
)% |
|
|
(10.2 |
)% |
|
|
(17.6 |
)% |
|
|
(19.9 |
)% |
|
Total Return, at market value^
|
|
|
45.9 |
% |
|
|
(21.0 |
)% |
|
|
(15.4 |
)% |
|
|
(10.1 |
)% |
|
|
(17.0 |
)% |
|
|
(19.9 |
)% |
|
Ratios to Average Net Assets**
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expense ratio
|
|
|
1.32 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.96 |
% |
|
|
1.01 |
% |
|
|
0.95 |
% |
|
Expense ratio, excluding brokerage commissions
|
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Net investment income (loss)
|
|
|
(0.83 |
)% |
|
|
(0.23 |
)% |
|
|
(0.27 |
)% |
|
|
(0.37 |
)% |
|
|
(0.42 |
)% |
|
|
(0.23 |
)% |
| # |
The amount shown for a share
outstanding throughout the period may not accord with the change in
aggregate gains and losses during the period because of timing of
creation and redemption units in relation to fluctuating net asset
value during the period. |
| † |
Market values are determined at the
close of the New York Stock Exchange, which may be later than when
the Funds’ net asset value is calculated. |
| ^ |
Percentages are not annualized for
the period ended September 30, 2017. |
| ** |
Percentages are annualized. |
For the Nine Months Ended September 30,
2017 (unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per Share Operating Performance
|
|
UltraShort Yen |
|
|
Ultra Bloomberg
Crude Oil |
|
|
UltraPro 3X
Crude Oil ETF+ |
|
|
Ultra Bloomberg
Natural Gas |
|
|
Ultra Gold |
|
|
Ultra Silver |
|
|
Net asset value, at December 31, 2016
|
|
$ |
80.24 |
|
|
$ |
23.34 |
|
|
$ |
25.00 |
|
|
$ |
18.85 |
|
|
$ |
32.90 |
|
|
$ |
33.44 |
|
|
Net investment income (loss)
|
|
|
(0.14 |
) |
|
|
(0.03 |
) |
|
|
(0.14 |
) |
|
|
(0.05 |
) |
|
|
(0.06 |
) |
|
|
(0.06 |
) |
|
Net realized and unrealized gain (loss)#
|
|
|
(5.84 |
) |
|
|
(5.41 |
) |
|
|
0.41 |
|
|
|
(10.06 |
) |
|
|
6.98 |
|
|
|
0.64 |
|
|
Change in net asset value from operations
|
|
|
(5.98 |
) |
|
|
(5.44 |
) |
|
|
0.27 |
|
|
|
(10.11 |
) |
|
|
6.92 |
|
|
|
0.58 |
|
|
Net asset value, at September 30, 2017
|
|
$ |
74.26 |
|
|
$ |
17.90 |
|
|
$ |
25.27 |
|
|
$ |
8.74 |
|
|
$ |
39.82 |
|
|
$ |
34.02 |
|
|
Market value per share, at December 31, 2016†
|
|
$ |
80.25 |
|
|
$ |
23.36 |
|
|
$ |
25.00 |
|
|
$ |
18.96 |
|
|
$ |
33.20 |
|
|
$ |
32.09 |
|
|
Market value per share, at September 30, 2017†
|
|
$ |
74.21 |
|
|
$ |
17.82 |
|
|
$ |
25.09 |
|
|
$ |
8.80 |
|
|
$ |
39.60 |
|
|
$ |
33.15 |
|
|
Total Return, at net asset value^
|
|
|
(7.5 |
)% |
|
|
(23.3 |
)% |
|
|
1.1 |
% |
|
|
(53.6 |
)% |
|
|
21.0 |
% |
|
|
1.7 |
% |
|
Total Return, at market value^
|
|
|
(7.5 |
)% |
|
|
(23.7 |
)% |
|
|
0.4 |
% |
|
|
(53.6 |
)% |
|
|
19.3 |
% |
|
|
3.3 |
% |
|
Ratios to Average Net Assets**
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expense ratio
|
|
|
0.95 |
% |
|
|
0.97 |
% |
|
|
1.26 |
% |
|
|
1.16 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Expense ratio, excluding brokerage commissions
|
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Net investment income (loss)
|
|
|
(0.26 |
)% |
|
|
(0.24 |
)% |
|
|
(1.26 |
)% |
|
|
(0.57 |
)% |
|
|
(0.22 |
)% |
|
|
(0.23 |
)% |
| + |
From commencement of operations,
March 24, 2017 through September 30, 2017. |
| # |
The amount shown for a share
outstanding throughout the period may not accord with the change in
aggregate gains and losses during the period because of timing of
creation and redemption units in relation to fluctuating net asset
value during the period. |
| † |
Market values are determined at the
close of the New York Stock Exchange, which may be later than when
the Funds’ net asset value is calculated. For ProShares
UltraPro 3x Crude Oil ETF, the returns of shares outstanding for
the period from commencement of operations through
September 30, 2017 are calculated based on the initial
offering price upon commencement of operations of $25.00. |
| ^ |
Percentages are not annualized for
the period ended September 30, 2017. |
The returns of shares outstanding for the period from commencement
of operations through September 30, 2017 are calculated based
on the initial offering price upon commencement of operations of
$25.0000 for ProShares UltraPro 3X Crude Oil ETF.
| ** |
Percentages are annualized. |
For the Nine Months Ended September 30,
2017 (unaudited)
|
|
|
|
|
|
|
|
|
|
Per Share Operating Performance
|
|
Ultra Euro |
|
|
Ultra Yen |
|
|
Net asset value, at December 31, 2016
|
|
$ |
14.02 |
|
|
$ |
55.43 |
|
|
Net investment income (loss)
|
|
|
(0.03 |
) |
|
|
(0.21 |
) |
|
Net realized and unrealized gain (loss)#
|
|
|
3.14 |
|
|
|
2.85 |
|
|
Change in net asset value from operations
|
|
|
3.11 |
|
|
|
2.64 |
|
|
Net asset value, at September 30, 2017
|
|
$ |
17.13 |
|
|
$ |
58.07 |
|
|
Market value per share, at December 31, 2016†
|
|
$ |
14.09 |
|
|
$ |
55.52 |
|
|
Market value per share, at September 30, 2017†
|
|
$ |
17.10 |
|
|
$ |
58.17 |
|
|
Total Return, at net asset value^
|
|
|
22.2 |
% |
|
|
4.8 |
% |
|
Total Return, at market value^
|
|
|
21.4 |
% |
|
|
4.8 |
% |
|
Ratios to Average Net Assets**
|
|
|
|
|
|
|
|
|
|
Expense ratio
|
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Expense ratio, excluding brokerage commissions
|
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Net investment income (loss)
|
|
|
(0.26 |
)% |
|
|
(0.47 |
)% |
| # |
The amount shown for a share
outstanding throughout the period may not accord with the change in
aggregate gains and losses during the period because of timing of
creation and redemption units in relation to fluctuating net asset
value during the period. |
| † |
Market values are determined at the
close of the New York Stock Exchange, which may be later than when
the Funds’ net asset value is calculated. |
| ^ |
Percentages are not annualized for
the period ended September 30, 2017. |
| ** |
Percentages are annualized. |
Selected data for a Share outstanding throughout the nine months
ended September 30, 2016:
For the Nine Months Ended September 30,
2016 (unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per Share Operating Performance
|
|
VIX Short-Term
Futures ETF* |
|
|
VIX Mid-Term
Futures ETF |
|
|
Short VIX
Short-Term
Futures ETF* |
|
|
Ultra VIX
Short-Term
Futures ETF* |
|
|
UltraShort
Bloomberg
Crude Oil* |
|
|
UltraShort
Bloomberg
Natural Gas |
|
|
Net asset value, at December 31, 2015
|
|
$ |
264.84 |
|
|
$ |
53.96 |
|
|
$ |
25.41 |
|
|
$ |
2,808.40 |
|
|
$ |
66.60 |
|
|
$ |
46.53 |
|
|
Net investment income (loss)
|
|
|
(1.03 |
) |
|
|
(0.28 |
) |
|
|
(0.21 |
) |
|
|
(9.40 |
) |
|
|
(0.31 |
) |
|
|
(0.57 |
) |
|
Net realized and unrealized gain (loss)#
|
|
|
(149.68 |
) |
|
|
(7.93 |
) |
|
|
11.12 |
|
|
|
(2,460.96 |
) |
|
|
(26.29 |
) |
|
|
(9.64 |
) |
|
Change in net asset value from operations
|
|
|
(150.71 |
) |
|
|
(8.21 |
) |
|
|
10.91 |
|
|
|
(2,470.36 |
) |
|
|
(26.60 |
) |
|
|
(10.21 |
) |
|
Net asset value, at September 30, 2016
|
|
$ |
114.13 |
|
|
$ |
45.75 |
|
|
$ |
36.32 |
|
|
$ |
338.04 |
|
|
$ |
40.00 |
|
|
$ |
36.32 |
|
|
Market value per share, at December 31, 2015†
|
|
$ |
266.60 |
|
|
$ |
53.99 |
|
|
$ |
25.23 |
|
|
$ |
2,835.00 |
|
|
$ |
66.82 |
|
|
$ |
46.55 |
|
|
Market value per share, at September 30, 2016†
|
|
$ |
113.32 |
|
|
$ |
45.69 |
|
|
$ |
36.61 |
|
|
$ |
333.00 |
|
|
$ |
40.45 |
|
|
$ |
36.14 |
|
|
Total Return, at net asset value^
|
|
|
(56.9 |
)% |
|
|
(15.2 |
)% |
|
|
42.9 |
% |
|
|
(88.0 |
)% |
|
|
(39.9 |
)% |
|
|
(22.0 |
)% |
|
Total Return, at market value^
|
|
|
(57.5 |
)% |
|
|
(15.4 |
)% |
|
|
45.1 |
% |
|
|
(88.3 |
)% |
|
|
(39.5 |
)% |
|
|
(22.4 |
)% |
|
Ratios to Average Net Assets**
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expense ratio
|
|
|
1.01 |
% |
|
|
0.93 |
% |
|
|
1.36 |
% |
|
|
1.56 |
% |
|
|
1.04 |
% |
|
|
1.68 |
% |
|
Expense ratio, excluding brokerage commissions
|
|
|
0.85 |
% |
|
|
0.85 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Net investment income (loss)
|
|
|
(0.78 |
)% |
|
|
(0.71 |
)% |
|
|
(1.13 |
)% |
|
|
(1.33 |
)% |
|
|
(0.79 |
)% |
|
|
(1.46 |
)% |
| * |
See Note 1 of these Notes to
Financial Statements |
| # |
The amount shown for a share
outstanding throughout the period may not accord with the change in
aggregate gains and losses during the period because of timing of
creation and redemption units in relation to fluctuating net asset
value during the period. |
| † |
Market values are determined at the
close of the New York Stock Exchange, which may be later than when
the Funds’ net asset value is calculated. |
| ^ |
Percentages are not annualized for
the period ended September 30, 2016. |
| ** |
Percentages are annualized. |
For the Nine Months Ended September 30,
2016 (unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per Share Operating Performance
|
|
UltraShort Gold |
|
|
UltraShort
Silver |
|
|
Short Euro |
|
|
UltraShort
Australian
Dollar |
|
|
UltraShort Euro |
|
|
UltraShort Yen |
|
|
Net asset value, at December 31, 2015
|
|
$ |
115.88 |
|
|
$ |
64.58 |
|
|
$ |
43.78 |
|
|
$ |
58.46 |
|
|
$ |
25.54 |
|
|
$ |
87.94 |
|
|
Net investment income (loss)
|
|
|
(0.42 |
) |
|
|
(0.21 |
) |
|
|
(0.25 |
) |
|
|
(0.33 |
) |
|
|
(0.13 |
) |
|
|
(0.38 |
) |
|
Net realized and unrealized gain (loss)#
|
|
|
(45.85 |
) |
|
|
(36.43 |
) |
|
|
(1.31 |
) |
|
|
(8.45 |
) |
|
|
(1.63 |
) |
|
|
(26.88 |
) |
|
Change in net asset value from operations
|
|
|
(46.27 |
) |
|
|
(36.64 |
) |
|
|
(1.56 |
) |
|
|
(8.78 |
) |
|
|
(1.76 |
) |
|
|
(27.26 |
) |
|
Net asset value, at September 30, 2016
|
|
$ |
69.61 |
|
|
$ |
27.94 |
|
|
$ |
42.22 |
|
|
$ |
49.68 |
|
|
$ |
23.78 |
|
|
$ |
60.68 |
|
|
Market value per share, at December 31, 2015†
|
|
$ |
115.83 |
|
|
$ |
64.55 |
|
|
$ |
43.74 |
|
|
$ |
58.15 |
|
|
$ |
25.53 |
|
|
$ |
87.89 |
|
|
Market value per share, at September 30, 2016†
|
|
$ |
70.19 |
|
|
$ |
28.41 |
|
|
$ |
42.22 |
|
|
$ |
49.67 |
|
|
$ |
23.76 |
|
|
$ |
60.64 |
|
|
Total Return, at net asset value^
|
|
|
(39.9 |
)% |
|
|
(56.7 |
)% |
|
|
(3.6 |
)% |
|
|
(15.0 |
)% |
|
|
(6.9 |
)% |
|
|
(31.0 |
)% |
|
Total Return, at market value^
|
|
|
(39.4 |
)% |
|
|
(56.0 |
)% |
|
|
(3.5 |
)% |
|
|
(14.6 |
)% |
|
|
(6.9 |
)% |
|
|
(31.0 |
)% |
|
Ratios to Average Net Assets**
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expense ratio
|
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.97 |
% |
|
|
1.03 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Expense ratio, excluding brokerage commissions
|
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Net investment income (loss)
|
|
|
(0.71 |
)% |
|
|
(0.71 |
)% |
|
|
(0.78 |
)% |
|
|
(0.80 |
)% |
|
|
(0.70 |
)% |
|
|
(0.74 |
)% |
| # |
The amount shown for a share
outstanding throughout the period may not accord with the change in
aggregate gains and losses during the period because of timing of
creation and redemption units in relation to fluctuating net asset
value during the period. |
| † |
Market values are determined at the
close of the New York Stock Exchange, which may be later than when
the Funds’ net asset value is calculated. |
| ^ |
Percentages are not annualized for
the period ended September 30, 2016. |
| ** |
Percentages are annualized. |
For the Nine Months Ended September 30,
2016 (unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per Share Operating Performance
|
|
Ultra Bloomberg
Crude Oil* |
|
|
Ultra Bloomberg
Natural Gas |
|
|
Ultra Gold |
|
|
Ultra Silver |
|
|
Ultra Euro |
|
|
Ultra Yen |
|
|
Net asset value, at December 31, 2015
|
|
$ |
25.15 |
|
|
$ |
18.57 |
|
|
$ |
29.73 |
|
|
$ |
27.06 |
|
|
$ |
15.51 |
|
|
$ |
54.75 |
|
|
Net investment income (loss)
|
|
|
(0.12 |
) |
|
|
(0.12 |
) |
|
|
(0.21 |
) |
|
|
(0.21 |
) |
|
|
(0.08 |
) |
|
|
(0.36 |
) |
|
Net realized and unrealized gain (loss)#
|
|
|
(4.01 |
) |
|
|
(3.97 |
) |
|
|
14.90 |
|
|
|
22.15 |
|
|
|
0.70 |
|
|
|
20.07 |
|
|
Change in net asset value from operations
|
|
|
(4.13 |
) |
|
|
(4.09 |
) |
|
|
14.69 |
|
|
|
21.94 |
|
|
|
0.62 |
|
|
|
19.71 |
|
|
Net asset value, at September 30, 2016
|
|
$ |
21.02 |
|
|
$ |
14.48 |
|
|
$ |
44.42 |
|
|
$ |
49.00 |
|
|
$ |
16.13 |
|
|
$ |
74.46 |
|
|
Market value per share, at December 31, 2015†
|
|
$ |
25.08 |
|
|
$ |
18.48 |
|
|
$ |
29.73 |
|
|
$ |
27.08 |
|
|
$ |
15.51 |
|
|
$ |
54.70 |
|
|
Market value per share, at September 30, 2016†
|
|
$ |
20.76 |
|
|
$ |
14.58 |
|
|
$ |
44.01 |
|
|
$ |
48.11 |
|
|
$ |
16.12 |
|
|
$ |
74.48 |
|
|
Total Return, at net asset value^
|
|
|
(16.4 |
)% |
|
|
(22.0 |
)% |
|
|
49.4 |
% |
|
|
81.1 |
% |
|
|
4.0 |
% |
|
|
36.0 |
% |
|
Total Return, at market value^
|
|
|
(17.2 |
)% |
|
|
(21.1 |
)% |
|
|
48.0 |
% |
|
|
77.7 |
% |
|
|
3.9 |
% |
|
|
36.2 |
% |
|
Ratios to Average Net Assets**
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expense ratio
|
|
|
1.02 |
% |
|
|
1.36 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Expense ratio, excluding brokerage commissions
|
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
|
0.95 |
% |
|
Net investment income (loss)
|
|
|
(0.78 |
)% |
|
|
(1.17 |
)% |
|
|
(0.69 |
)% |
|
|
(0.71 |
)% |
|
|
(0.71 |
)% |
|
|
(0.71 |
)% |
| * |
See Note 1 of these Notes to
Financial Statements |
| # |
The amount shown for a share
outstanding throughout the period may not accord with the change in
aggregate gains and losses during the period because of timing of
creation and redemption units in relation to fluctuating net asset
value during the period. |
| † |
Market values are determined at the
close of the New York Stock Exchange, which may be later than when
the Funds’ net asset value is calculated |
| ^ |
Percentages are not annualized for
the period ended September 30, 2016. |
| ** |
Percentages are annualized. |
|