v3.21.1
Investments (Tables)
 3 Months Ended
Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Fair Value of Derivative Instruments
The following tables indicate the location of derivative related items on the Statements of Financial Condition as
w
ell as the effect of derivative instruments on the Statements of Operations during the reporting period.
 
Fair Value of Derivative Instruments as of March 31, 2021
  
       
         
Asset Derivatives
    
Liability Derivatives
  
Derivatives Not Accounted for
as Hedging Instruments
   
Fund
   
Statements of
Financial Condition
Location
   
Unrealized
Appreciation
    
Statements of
Financial Condition
Location
   
Unrealized
Depreciation
  
VIX Futures Contracts
         Receivables on open futures contracts, unrealized appreciation on swap agreements            Payable on open futures contracts, unrealized depreciation on swap agreements         
     ProShares Short VIX Short-Term Futures ETF         $ 50,470,675
*
 		        $ —    
     ProShares Ultra VIX Short-Term Futures ETF           —              332,928,249
*
 
     ProShares VIX
Mid-Term
Futures ETF		           —              9,410,288
*
 
     ProShares VIX Short-Term Futures ETF           —              59,803,004
*
 
Commodities Contracts
         Receivables on open futures contracts and/or unrealized appreciation on swap agreements            Payable on open futures contracts and/or unrealized depreciation on swap agreements         
     ProShares Ultra Bloomberg Crude Oil           238,887,300
*
 		          41,086,983
*
 
     ProShares Ultra Bloomberg Natural Gas           —              11,300,062
*
 
     ProShares Ultra Gold           6,553,555
*
 		          —    
     ProShares Ultra Silver           —              43,822,824
*
 
     ProShares UltraShort Bloomberg Crude Oil           469,128
*
 		          9,469,307
*
 
     ProShares UltraShort Bloomberg Natural Gas           16,272,857
*
 		          —    
     ProShares UltraShort Gold           39,145
*
 		          685,467
*
 
     ProShares UltraShort Silver           4,048,127
*
 		          —    
Foreign Exchange Contracts
         Unrealized appreciation on foreign currency forward contracts, and/or receivables on open futures contracts            Unrealized depreciation on foreign currency forward contracts, and/or payable on open futures contracts         
     ProShares Short Euro           33,928
*
 		          —    
     ProShares Ultra Euro           4,330            226,734  
     ProShares Ultra Yen           3,041            192,043  
 
Fair Value of Derivative Instruments as of March 31, 2021
  
       
         
Asset Derivatives
    
Liability Derivatives
  
Derivatives Not Accounted for
as Hedging Instruments
   
Fund
   
Statements of
Financial Condition
Location
   
Unrealized
Appreciation
    
Statements of
Financial Condition
Location
   
Unrealized
Depreciation
  
 
  
ProShares UltraShort
Australian Dollar
  
 
  
$
 67,102
* 
 
 
  
$
—  
 
 
  
ProShares UltraShort Euro
  
 
  
 
 3,436,568
 
 
 
  
 
 181,875
 
 
  
ProShares UltraShort Yen
  
 
  
 
 2,366,090
 
 
 
  
 
 30,168
 
 
  
 
  
Total Trust
  
$
322,651,846
* 
 
 
  
$
509,137,004
* 
 
*
Includes cumulative appreciation (depreciation) of futures contracts as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures.
 
Fair Value of Derivative Instruments as of December 31, 2020
 
       
 
 
 
  
Asset Derivatives
 
 
Liability Derivatives
 
Derivatives Not Accounted for
as Hedging Instruments
 
Fund
  
Statements of
Financial Condition
Location
  
Unrealized
Appreciation
 
 
Statements of
Financial Condition
Location
  
Unrealized
Depreciation
 
VIX Futures Contracts
 
  
  
Receivables on open futures contracts, unrealized appreciation on swap agreements
  
      
 
Payable on open futures contracts, unrealized depreciation on swap agreements
  
      
 
 
ProShares Short VIX Short-Term Futures ETF
  
  
  
$
8,348,783
*
 
 
  
  
$
—  
 
 
 
ProShares Ultra VIX Short-Term Futures ETF
  
  
  
 
—  
 
 
  
  
 
48,549,473
*
 
 
 
ProShares VIX
 
Mid-Term
 
Futures ETF
  
  
  
 
147,915
*
 
 
  
  
 
1,281,531
*
 
 
 
ProShares VIX Short-Term Futures ETF
  
  
  
 
—  
 
 
  
  
 
6,364,090
*
 
Commodities Contracts
 
  
  
Receivables on open futures contracts and/or unrealized appreciation on swap agreements
  
      
 
Payable on open futures contracts and/or unrealized depreciation on swap agreements
  
      
 
 
ProShares Ultra Bloomberg Crude Oil
  
  
  
 
162,806,234
*
 
 
  
  
 
—  
 
 
 
ProShares Ultra Bloomberg Natural Gas
  
  
  
 
6,500,721
*
 
 
  
  
 
—  
 
 
 
ProShares Ultra Gold
  
  
  
 
7,787,854
*
 
 
  
  
 
—  
 
 
 
ProShares Ultra Silver
  
  
  
 
93,942,878
*
 
 
  
  
 
—  
 
 
 
ProShares UltraShort Bloomberg Crude Oil
  
  
  
 
—  
 
 
  
  
 
14,636,813
*
 
 
 
ProShares UltraShort Bloomberg Natural Gas
  
  
  
 
379,310
*
 
 
  
  
 
—  
 
 
 
ProShares UltraShort Gold
  
  
  
 
—  
 
 
  
  
 
465,658
*
 
 
 
ProShares UltraShort Silver
  
  
  
 
—  
 
 
  
  
 
3,417,637
*
 
Foreign Exchange Contracts
 
  
  
Unrealized appreciation on foreign currency forward contracts, and/or receivables on open futures contracts
  
      
 
Unrealized depreciation on foreign currency forward contracts, and/or payable on open futures contracts
  
      
 
 
ProShares Short Euro
  
  
  
 
—  
 
 
  
  
 
44,626
*
 
 
 
ProShares Ultra Euro
  
  
  
 
89,103
 
 
  
  
 
367
 
 
 
ProShares Ultra Yen
  
  
  
 
67,235
 
 
  
  
 
148
 
 
 
ProShares UltraShort Australian Dollar
  
  
  
 
—  
 
 
  
  
 
138,950
*
 
 
Fair Value
 
of Derivative Instruments as of December 31, 2020
  
       
         
Asset Derivatives
    
Liability Derivatives
  
Derivatives Not Accounted for
as Hedging Instruments
   
Fund
   
Statements of
Financial Condition
Location
   
Unrealized
Appreciation
    
Statements of
Financial Condition
Location
   
Unrealized
Depreciation
  
     ProShares UltraShort Euro        
$
 5,705         
$
 1,142,409  
     ProShares UltraShort Yen           7,008            571,974  
              
 
 
         
 
 
  
         
Total Trust
   
$
280,082,746
*
 
       
$
76,613,676
*
 
 
*
Includes cumulative appreciation (depreciation) of futures contracts as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statements of Financial Condition in receivable/pay
a
ble on open futures.
Effect of Derivative Instruments on Statements of Operations
The Effect of Derivative Instruments on the Statement of Operations
For the three months ended March 31, 2021
 
         
Derivatives Not Accounted
for as Hedging Instruments
  
Location of Gain
(Loss) on Derivatives
Recognized in Income
  
Fund
  
Realized Gain
(Loss) on
Derivatives
Recognized in
Income
 
 
Change in
Unrealized
Appreciation
(Depreciation) on
Derivatives
Recognized in
Income
 
VIX Futures Contracts
  
Net realized gain (loss) on futures contracts and/or swap agreements/ changes in unrealized appreciation (depreciation) on futures contracts and/or swap agreements
  
  
  
      
 
      
 
  
  
  
ProShares Short VIX Short-Term Futures ETF
  
$
24,209,417
 
 
$
42,121,892
 
 
  
  
  
ProShares Ultra VIX Short-Term Futures ETF
  
 
(704,518,024
) 
 
 
(284,378,776
) 
 
  
  
  
ProShares VIX
 
Mid-Term
 
Futures ETF
  
 
3,539,316
 
 
 
(8,276,672
) 
 
  
  
  
ProShares VIX Short-Term Futures ETF
  
 
(76,634,593
) 
 
 
(53,438,914
) 
Commodities Contracts
  
Net realized gain (loss) on futures contracts and swap agreements/ changes in unrealized appreciation (depreciation) on futures contracts and swap agreements
  
  
  
      
 
      
 
  
  
  
ProShares Ultra Bloomberg Crude Oil
  
 
334,351,228
 
 
 
34,994,083
 
 
  
  
  
ProShares Ultra Bloomberg Natural Gas
  
 
41,582,385
 
 
 
(17,800,783
) 
 
  
  
  
ProShares Ultra Gold
  
 
(51,248,132
) 
 
 
(1,234,299
) 
 
  
  
  
ProShares Ultra Silver
  
 
4,910,551
 
 
 
(137,765,702
) 
 
  
  
  
ProShares UltraShort Bloomberg Crude Oil
  
 
(49,177,765
) 
 
 
5,636,634
 
 
  
  
  
ProShares UltraShort Bloomberg Natural Gas
  
 
(6,359,394
) 
 
 
15,893,547
 
 
  
  
  
ProShares UltraShort Gold
  
 
4,003,190
 
 
 
(180,664
) 
 
  
  
  
ProShares UltraShort Silver
  
 
(2,932,351
) 
 
 
7,465,764
 
The Effect of Derivative Instruments on the Statement of Operations
For the three months ended March 31, 202
1
  
         
Derivatives Not Accounted
for as Hedging Instruments
   
Location of Gain
(Loss) on Derivatives
Recognized in Income
   
Fund
   
Realized Gain
(Loss) on
Derivatives
Recognized in
Income
    
Change in
Unrealized
Appreciation
(Depreciation) on
Derivatives
Recognized in
Income
  
Foreign Exchange Contracts
    Net realized gain (loss) on futures and/ or foreign currency forward contracts/ changes in unrealized appreciation (depreciation) on futures and/ or foreign currency forward contracts                      
          ProShares Short Euro   
$
 69,393    
$
 78,554  
          ProShares Ultra Euro      (27,342 )      (311,140 ) 
          ProShares Ultra Yen      (139,467 )      (256,089 ) 
          ProShares UltraShort Australian Dollar      (164,544 )      206,052  
          ProShares UltraShort Euro      70,527       4,391,397  
          ProShares UltraShort Yen      1,259,573       2,900,888  
              
 
 
    
 
 
  
         
Total Trust
   
$
(477,206,032
) 
  
$
(389,954,228
) 
 
The Effect of Derivative Instruments on the Statement of Operations
For the three months ended March 31, 2020
  
         
Derivatives Not Accounted
for as Hedging Instruments
   
Location of Gain
(Loss) on Derivatives
Recognized in Income
   
Fund
   
Realized Gain
(Loss) on
Derivatives
Recognized in
Income
    
Change in
Unrealized
Appreciation
(Depreciation) on
Derivatives
Recognized in
Income
  
VIX Futures Contracts
    Net realized gain (loss) on futures contracts and/or swap agreements/ changes in unrealized appreciation (depreciation) on futures contracts and/or swap agreements                      
          ProShares Short VIX Short-Term Futures ETF    $ (244,300,604 )    $ 20,973,802  
          ProShares Ultra VIX Short-Term Futures ETF      726,085,231       176,381,861  
          ProShares VIX
Mid-Term
Futures ETF		      7,756,525       15,963,130  
          ProShares VIX Short-Term Futures ETF      325,737,788       67,783,030  
Commodities Contracts
    Net realized gain (loss) on futures
contracts
, options
and swap
agreements/ changes in unrealized
appreciation (depreciation) on
futures contracts and swap
agreements		                      
          ProShares Ultra Bloomberg Crude
Oil		      (505,591,266 )      (322,776,550 ) 
          ProShares Ultra Bloomberg Natural Gas      (22,819,605 )      (4,466,823 ) 
          ProShares Ultra Gold      21,498,056       (19,153,296 ) 
          ProShares Ultra Silver      (3,697,654 )      (85,172,612 ) 
          ProShares UltraPro 3x Crude Oil ETF*      (414,693,599 )      (7,266,550 ) 
The
 
Effect of Derivative Instruments on the Statement of Operations
For the three months ended March 31, 2020
  
         
Derivatives Not Accounted
for as Hedging Instruments
   
Location of Gain
(Loss) on Derivatives
Recognized in Income
   
Fund
   
Realized Gain
(Loss) on
Derivatives
Recognized in
Income
    
Change in
Unrealized
Appreciation
(Depreciation) on
Derivatives
Recognized in
Income
  
          ProShares UltraPro 3x Short Crude Oil ETF*   
$
 83,293,001    
$
 8,358,056  
          ProShares UltraShort Bloomberg Crude Oil      51,674,022       76,578,230  
          ProShares UltraShort Bloomberg Natural Gas      5,626,177       3,334,986  
          ProShares UltraShort Gold      (5,930,882 )      2,675,796  
          ProShares UltraShort Silver      842,240       4,190,271  
Foreign Exchange Contracts
    Net realized gain (loss) on futures and/ or foreign currency forward contracts/ changes in unrealized appreciation (depreciation) on futures and/ or foreign currency forward contracts                      
          ProShares Short Euro      (18,638 )      67,324  
          ProShares Ultra Euro      (53,268 )      (221,334 ) 
          ProShares Ultra Yen      (8,483 )      (19,239 ) 
          ProShares UltraShort Australian Dollar      670,950       947,586  
          ProShares UltraShort Euro      1,047,283       3,137,931  
          ProShares UltraShort Yen      (506,520 )      (699,345 ) 
              
 
 
    
 
 
  
         
Total Trust
   
$
26,610,754
 
  
$
(59,383,746
) 
              
 
 
    
 
 
  
 
*   The operations include the activity through March 27, 2020, the date liquidation was determined to be imminent.
 
Offsetting of Financial Assets and Liabilities The following table presents each Fund’s derivatives by investment type and by counterparty net of amounts available for offset under a master netting agreement and the related collateral received or pledged by the Funds as of March 31, 2021.
Fair Values of Derivative Instruments as of March 31, 2021
    
Assets
     
Liabilities
  
Fund
   
Gross Amounts of
Recognized Assets
presented in the
Statements of
Financial
Condition
     
Gross Amounts
Offset in the
Statements of
Financial
Condition
     
Net Amounts of
Assets presented
in the
Statements of
Financial
Condition
     
Gross Amounts of
Recognized Liabilities
presented in the
Statements of
Financial
Condition
     
Gross Amounts
Offset in the
Statements of
Financial
Condition
     
Net Amounts of
Liabilities presented
in the
Statements of
Financial
Condition
  
ProShares Ultra Bloomberg Crude Oil
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Swap agreements
  
$
 —
  
 
  
$
 —  
 
  
$
 —
  
 
  
$
 40,748,594
 
  
$
 —  
 
  
$
 40,748,594
 
ProShares Ultra Euro
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Foreign currency forward contracts
  
 
 4,330
 
  
 
 —
  
 
  
 
 4,330
 
  
 
 226,734
 
  
 
 —
  
 
  
 
 226,734
 
ProShares Ultra Gold
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Swap agreements
  
 
 6,160,430
 
  
 
 —
  
 
  
 
 6,160,430
 
  
 
 —
  
 
  
 
 —
  
 
  
 
 —
  
 
ProShares Ultra Silver
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Swap agreements
  
 
 —
  
 
  
 
 —
  
 
  
 
 —
  
 
  
 
 28,421,003
 
  
 
 —
  
 
  
 
 28,421,003
 
ProShares Ultra Yen
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Foreign currency forward contracts
  
 
 3,041
 
  
 
 —
  
 
  
 
 3,041
 
  
 
 192,043
 
  
 
 —
  
 
  
 
 192,043
 
ProShares UltraShort Euro
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Foreign currency forward contracts
  
 
 3,436,568
 
  
 
 —
  
 
  
 
 3,436,568
 
  
 
 181,875
 
  
 
 —
  
 
  
 
 181,875
 
ProShares UltraShort Gold
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Swap agreements
  
 
 —
  
 
  
 
 —
  
 
  
 
 —
  
 
  
 
 685,467
 
  
 
 —
  
 
  
 
 685,467
 
ProShares UltraShort Silver
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Swap agreements
  
 
 771,233
 
  
 
 —
  
 
  
 
 771,233
 
  
 
 —
  
 
  
 
 —
  
 
  
 
 —
  
 
ProShares UltraShort Yen
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Foreign currency forward contracts
  
 
 2,366,090
 
  
 
 —
  
 
  
 
 2,366,090
 
  
 
 30,168
 
  
 
 —
  
 
  
 
 30,168
 
The following table presents each Fund’s derivatives by investment type and by counterparty net of amounts a
v
ailable for offset
under a master netting agreement and the related collateral received or pledged by the Funds as of December 31, 2020:
Fair Values of Derivative Instruments as of December 31, 2020
  
     
    
Assets
     
Liabilities
  
Fund
   
Gross Amounts
of Recognized
Assets presented
in the
Statements of
Financial
Condition
     
Gross Amounts
Offset in the
Statements of
Financial
Condition
     
Net Amounts of
Assets presented
in the
Statements of
Financial
Condition
     
Gross Amounts of
Recognized
Liabilities presented
in the
Statements of
Financial
Condition
     
Gross Amounts
Offset in the
Statements of
Financial
Condition
     
Net Amounts of
Liabilities presented
in the
Statements of
Financial
Condition
  
ProShares Ultra Bloomberg Crude Oil
                                                      
Swap agreements
    $ 18,242,195      $ —        $ 18,242,195      $ —        $ —        $ —    
ProShares Ultra Euro
                                                      
Foreign currency forward contracts
      89,103        —          89,103        367        —          367  
ProShares Ultra Gold
                                                      
Swap agreements
      5,140,980        —          5,140,980        —          —          —    
ProShares Ultra Silver
                                                      
Swap agreements
      56,752,666        —          56,752,666        —          —          —    
ProShares Ultra VIX Short-Term Futures ETF
                                                      
Swap agreements
      —          —          —          24,807        —          24,807  
ProShares Ultra Yen
                                                      
Foreign currency forward contracts
      67,235        —          67,235        148        —          148  
ProShares UltraShort Euro
                                                      
Foreign currency forward contracts
      5,705        —          5,705        1,142,409        —          1,142,409  
ProShares UltraShort Gold
                                                      
Swap agreements
      —          —          —          268,728        —          268,728  
ProShares UltraShort Silver
                                                      
Swap agreements
      —          —          —          3,197,561        —          3,197,561  
ProShares UltraShort Yen
                                                      
Foreign currency forward contracts
      7,008        —          7,008        571,974        —          571,974  
Gross Amounts Not Offset in Statements of Financial Condition
Asset (Liability) amounts shown in the table below represent amounts owed to (by) the Funds for the derivative-related investments at March 31, 2021. These amounts may be collateralized by cash or financial instruments, segregated for the benefit of the Funds or the counterparties, depending on whether the related contracts are in an appreciated or depreciated position at period end. Amounts shown in the column labeled “Net Amount” represent the uncollateralized portions of these amounts at period end. These amounts may be
un-collateralized
due to timing differences related to market movements or due to minimum thresholds for collateral movement, as further described above under the caption “Accounting for Derivative Instruments”.
 
Gross Amounts Not Offset in the Statements of Financial Condition as of March 31, 2021
  
Fund
   
Amounts of Recognized Assets /
(Liabilities) presented in the
Statements of Financial
Condition
    
Financial Instruments for
the Benefit of (the Funds)
/ the Counterparties
    
Cash Collateral for the
Benefit of (the Funds)
/ the Counterparties
    
Net Amount
  
ProShares Ultra Bloomberg Crude Oil
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Goldman Sachs International
  
$
 (7,714,941
) 
 
$
 —
  
 
 
$
 7,714,941
 
 
$
 —
  
 
Morgan Stanley & Co.
International PLC
  
 
 (14,480,061
) 
 
 
 14,480,061
 
 
 
 —
  
 
 
 
 —
  
 
Societe Generale
  
 
 (7,452,971
) 
 
 
 —
  
 
 
 
 7,452,971
 
 
 
 —
  
 
UBS AG
  
 
 (11,100,621
) 
 
 
 —
  
 
 
 
 11,100,621
 
 
 
 —
  
 
ProShares Ultra Euro
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Goldman Sachs International
  
 
 (78,549
) 
 
 
 —
  
 
 
 
 78,549
 
 
 
 —
  
 
UBS AG
  
 
 (143,855
) 
 
 
 —
  
 
 
 
 143,855
 
 
 
 —
  
 
ProShares Ultra Gold
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Citibank, N.A.
  
 
 2,121,049
 
 
 
 —
  
 
 
 
 (310,000
) 
 
 
 1,811,049
 
Goldman Sachs International
  
 
 1,832,931
 
 
 
 (259,558
) 
 
 
 —
  
 
 
 
 1,573,373
 
UBS AG
  
 
 2,206,451
 
 
 
 —
  
 
 
 
 (330,000
) 
 
 
 1,876,451
 
ProShares Ultra Silver
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Citibank, N.A.
  
 
 (8,800,436
) 
 
 
 8,800,436
 
 
 
 —
  
 
 
 
 —
  
 
Goldman Sachs International
  
 
 (6,616,052
) 
 
 
 —
  
 
 
 
 6,616,052
 
 
 
 —
  
 
Morgan Stanley & Co.
International PLC
  
 
 (6,918,147
) 
 
 
 6,918,147
 
 
 
 —
  
 
 
 
 —
  
 
UBS AG
  
 
 (6,086,368
) 
 
 
 —
  
 
 
 
 6,086,368
 
 
 
 —
  
 
ProShares Ultra VIX Short-Term
Futures ETF
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Amounts
 
Not Offset in the Statements of Financial Condition as of March 31, 2021
  
         
Fund
   
Amounts of Recognized Assets /
(Liabilities) presented in the
Statements of Financial
Condition
    
Financial Instruments for
the Benefit of (the Funds)
/ the Counterparties
    
Cash Collateral for the
Benefit of (the Funds)
/ the Counterparties
    
Net Amount
  
Goldman Sachs & Co.
   
$
 		 —      
$
 		 —      
$
 		 —      
$
 		 —    
ProShares Ultra Yen
                                 
Goldman Sachs
International
      (106,904 )      —         106,904       —    
UBS AG
      (82,098 )      —         82,098       —    
ProShares UltraShort Euro
                                 
Goldman Sachs
International
      1,328,784       (1,154,554 )      —         174,230  
UBS AG
      1,925,909       —         (1,700,000 )      225,909  
ProShares UltraShort Gold
                                 
Citibank, N.A.
      (291,552 )      156,152       135,400       —    
Goldman Sachs
International
      (301,800 )      —         301,800       —    
UBS AG
      (92,116 )      —         92,116       —    
ProShares UltraShort Silver
                                 
Citibank, N.A.
      248,259       —         (248,259 )      —    
Goldman Sachs
International
      135,199       (135,199 )      —         —    
Morgan Stanley & Co. International PLC
      259,594       —         (259,594 )      —    
UBS AG
      128,181       —         (128,181 )      —    
ProShares UltraShort Yen
                                 
Goldman Sachs
International
      645,892       (597,669 )      —         48,223  
UBS AG
      1,690,031       —         (1,510,000 )      180,031  
Asset (Liability) amounts shown in the table below represent amounts owed to (by) the Funds for the derivative-related investments at December 31, 2020. These amounts may be collateralized by cash or financial instruments, segregated for the benefit of the Funds or the counterparties, depending on whether the related contracts are in an appreciated or depreciated position at period end. Amounts shown in the column labeled “Net Amount” represent the uncollateralized portions of these amounts at period end. These amounts may be
un-collateralized
due to timing differences related to market movements or due to minimum thresholds for collateral movement, as further described above under the caption “Accounting for Derivative Instruments”.
 
Gross Amounts Not Offset in the Statements of Financial Condition as of December 31, 2020
  
         
    
Amounts of Recognized
Assets / (Liabilities)
presented in the
Statements of Financial
Condition
     
Financial Instruments
for the Benefit of (the
Funds) / the
Counterparties
    
Cash Collateral for the
Benefit of (the Funds) /
the Counterparties
    
Net Amount
  
ProShares Ultra Bloomberg Crude Oil
                                  
Goldman Sachs International
    $ 1,377,243      $ (1,281,309 )    $ —       $ 95,934  
Morgan Stanley & Co. International PLC
      10,959,227        —         (10,629,000 )      330,227  
Societe Generale
      1,679,334        (1,679,334 )      —         —    
UBS AG
      4,226,391        (4,151,442 )      (6,270 )      68,679  
ProShares Ultra Euro
                                  
Goldman Sachs International
      22,950        —         —         22,950  
UBS AG
      65,786        —         —         65,786  
ProShares Ultra Gold
                                  
Citibank, N.A.
      1,770,050        —         (1,670,000 )      100,050  
Goldman Sachs International
      1,529,612        (1,497,203 )      —         32,409  
UBS AG
      1,841,318        —         —         1,841,318  
ProShares Ultra Silver
                                  
Citibank, N.A.
      18,010,776        —         (18,010,776 )      —    
Gross
 
Amounts Not Offset in the Statements of Financial Condition as of December 31, 2020
  
         
    
Amounts of Recognized
Assets / (Liabilities)
presented in the
Statements of Financial
Condition
    
Financial Instruments
for the Benefit of (the
Funds) / the
Counterparties
    
Cash Collateral for the
Benefit of (the Funds) /
the Counterparties
    
Net Amount
  
Goldman Sachs International
   
$
 12,930,574    
$
 (12,930,574 )   
$
 —      
$
 —    
Morgan Stanley & Co. International PLC
      12,353,706       —         (12,353,706 )      —    
UBS AG
      13,457,610       (4,126,610 )      (9,331,000 )      —    
ProShares Ultra VIX Short-Term Futures ETF
                                 
Goldman Sachs & Co.
      (24,807 )      —         24,807       —    
ProShares Ultra Yen
                                 
Goldman Sachs International
      34,265       —         —         34,265  
UBS AG
      32,822       —         —         32,822  
ProShares UltraShort Euro
                                 
Goldman Sachs International
      (388,233 )      —         388,233       —    
UBS AG
      (748,471 )      748,471       —         —    
ProShares UltraShort Gold
                                 
Citibank, N.A.
      (80,068 )      —         80,068       —    
Goldman Sachs International
      (82,645 )      —         82,645       —    
UBS AG
      (106,015 )      —         106,015       —    
ProShares UltraShort Silver
                                 
Citibank, N.A.
      (1,208,988 )      —         1,208,988       —    
Goldman Sachs International
      (927,829 )      —         927,829       —    
Morgan Stanley & Co. International PLC
      (579,421 )      —           579,421       —      
UBS AG
      (481,323 )      —         481,323       —    
ProShares UltraShort Yen
                                 
Goldman Sachs International
      (207,021 )      —         207,021       —    
UBS AG
      (357,945 )      —         357,945       —