v3.24.0.1

Investments (Tables)

12 Months Ended

Dec. 31, 2023

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 well as the effect of derivative instruments on the Statements of Operations during the reporting period.

Fair Value of Derivative Instruments as of December 31, 2023

				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				Receivable on open futures contracts						Payable on open futures contracts
		ProShares Short VIX Short-Term Futures ETF				$	12,640,624	*				$	—
		ProShares Ultra VIX Short-Term Futures ETF					—						31,183,911	*
		ProShares VIX Mid-Term Futures ETF					—						3,745,676	*
		ProShares VIX Short-Term Futures ETF					—						9,664,094	*
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					20,191,987	*					5,752,284	*
		ProShares Ultra Bloomberg Natural Gas					43,607,070	*					—
		ProShares Ultra Gold					7,174,868	*					—
		ProShares Ultra Silver					12,400,748	*					2,827,221	*
		ProShares UltraShort Bloomberg Crude Oil					22,436,319	*					—
		ProShares UltraShort Bloomberg Natural Gas					—						3,553,507	*
		ProShares UltraShort Gold					—						344,052	*
		ProShares UltraShort Silver					1,879,957	*					1,005,085	*
Foreign Exchange Contracts				Unrealized appreciation on foreign currency forward contracts						Unrealized depreciation on foreign currency forward contracts
		ProShares Ultra Euro					308,424						1,475
		ProShares Ultra Yen					1,534,924						15,639
		ProShares UltraShort Euro					38,029						1,886,808
		ProShares UltraShort Yen					129,697						1,441,622
				Combined Trust:		$	122,342,647	*				$	61,421,374	*

* 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, 2022

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

Receivable on open futures contracts

Payable on open futures contracts

ProShares Short VIX Short-Term Futures ETF

$11,092,381*

$ —

ProShares Ultra VIX Short-Term Futures ETF

—

36,555,453*

ProShares VIX Mid-Term Futures ETF

—

4,791,223*

ProShares VIX Short-Term Futures ETF

—

9,796,823*

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

100,451,293*

—

ProShares Ultra Bloomberg Natural Gas

—

310,613,969*

ProShares Ultra Gold

9,738,554*

—

ProShares Ultra Silver

68,650,786*

—

ProShares UltraShort Bloomberg Crude Oil

13,202,924*

2,958,031*

ProShares UltraShort Bloomberg Natural Gas

85,889,398*

—

ProShares UltraShort Gold

—

691,843*

ProShares UltraShort Silver

—

2,663,123*

Foreign Exchange Contracts

Unrealized appreciation on foreign currency forward contracts

Unrealized depreciation on foreign currency forward contracts

ProShares Ultra Euro

514,115

98,459

ProShares Ultra Yen

1,152,834

168,285

ProShares UltraShort Euro

193,192

2,654,448

ProShares UltraShort Yen

963,369

3,990,802

Combined Trust:

$291,848,846*

$374,982,459*

* 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.

Effect of Derivative Instruments on Statements of Operations

The Effect of Derivative Instruments on the Statement of Operations

For the year ended December 31, 2023

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/ changes in unrealized appreciation (depreciation) on futures contracts
				ProShares Short VIX Short-Term Futures ETF		$	160,516,553			$	1,548,243
				ProShares Ultra VIX Short-Term Futures ETF			(940,116,773	)			5,371,542
				ProShares VIX Mid-Term Futures ETF			(38,709,532	)			1,045,547
				ProShares VIX Short-Term Futures ETF			(275,353,500	)			132,729
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			100,867,538				(86,011,590	)
				ProShares Ultra Bloomberg Natural Gas			(2,080,656,703	)			354,221,039
				ProShares Ultra Gold			21,429,154				(2,563,686	)
				ProShares Ultra Silver			7,222,003				(59,077,259	)
				ProShares UltraShort Bloomberg Crude Oil			12,379,340				12,191,426
				ProShares UltraShort Bloomberg Natural Gas			306,791,742				(89,442,905	)
				ProShares UltraShort Gold			(2,180,686	)			347,791
				ProShares UltraShort Silver			13,438,489				3,537,995
Foreign Exchange Contracts		Net realized gain (loss) on foreign currency forward contracts/ changes in unrealized appreciation (depreciation) on foreign currency forward contracts
				ProShares Ultra Euro			293,493				(108,707	)
				ProShares Ultra Yen			(2,637,502	)			534,736
				ProShares UltraShort Euro			(2,624,737	)			612,477
				ProShares UltraShort Yen			2,979,874				1,715,508
				Combined Trust:		$	(2,716,361,247	)		$	144,054,886

The Effect of Derivative Instruments on the Statement of Operations

For the year ended December 31, 2022

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		$	21,454,600			$	(20,182,897	)
				ProShares Ultra VIX Short-Term Futures ETF			(150,931,020	)			90,278,741
				ProShares VIX Mid-Term Futures ETF			9,333,930				(4,166,835	)
				ProShares VIX Short-Term Futures ETF			(35,674,319	)			20,333,796
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			728,836,569				(110,932,525	)
				ProShares Ultra Bloomberg Natural Gas			109,680,104				(302,407,808	)
				ProShares Ultra Gold			(32,909,950	)			444,472
				ProShares Ultra Silver			(68,901,992	)			25,552,542
				ProShares UltraShort Bloomberg Crude Oil			(108,954,702	)			18,654,355
				ProShares UltraShort Bloomberg Natural Gas			(165,347,108	)			72,453,147
				ProShares UltraShort Gold			2,576,561				143,195
				ProShares UltraShort Silver			(1,668,145	)			(1,394,202	)
Foreign Exchange Contracts		Net realized gain (loss) on foreign currency forward contracts/ changes in unrealized appreciation (depreciation) on foreign currency forward contracts
				ProShares Ultra Euro			(953,353	)			333,004
				ProShares Ultra Yen			(1,141,826	)			1,077,661
				ProShares UltraShort Euro			6,792,065				(2,253,215	)
				ProShares UltraShort Yen			9,020,225				(3,897,013	)
				Combined Trust:		$	321,211,639			$	(215,963,582	)

The Effect of Derivative Instruments on the Statement of Operations

For the year ended December 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		$	194,879,700			$	22,926,495
				ProShares Ultra VIX Short-Term Futures ETF			(1,983,514,595	)			(78,284,721	)
				ProShares VIX Mid-Term Futures ETF			(15,267,976	)			509,228
				ProShares VIX Short-Term Futures ETF			(360,342,488	)			(23,766,529	)
Commodities Contracts		Net realized gain (loss) on futures contracts, swap and/or forward agreements/ changes in unrealized appreciation (depreciation) on futures contracts, swap and/or forward agreements
				ProShares Ultra Bloomberg Crude Oil			952,749,709				48,577,584
				ProShares Ultra Bloomberg Natural Gas			(51,858,807	)			(14,706,882	)
				ProShares Ultra Gold			(31,344,564	)			1,506,228
				ProShares Ultra Silver			(172,475,230	)			(50,844,634	)
				ProShares UltraShort Bloomberg Crude Oil			(105,340,654	)			6,227,351
				ProShares UltraShort Bloomberg Natural Gas			9,180,867				13,056,941
				ProShares UltraShort Gold			(2,454,946	)			(369,380	)
				ProShares UltraShort Silver			(22,467	)			2,148,716
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			183,708				39,226
				ProShares Ultra Euro			(500,185	)			(6,084	)
				ProShares Ultra Yen			(442,767	)			(160,199	)
				ProShares UltraShort Australian Dollar			191,674				73,795
				ProShares UltraShort Euro			6,280,362				928,663
				ProShares UltraShort Yen			4,102,966				1,434,546
				Combined Trust:		$	(1,555,995,693	)		$	(70,709,656	)

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 December 31, 2023.

Fair Values of Derivative Instruments as of December 31, 2023
		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		$	17,954,935			$	—			$	17,954,935			$	—			$	—			$	—
ProShares Ultra Euro
Foreign currency forward contracts			308,424				—				308,424				1,475				—				1,475
ProShares Ultra Gold
Swap agreements			3,078,593				—				3,078,593				—				—				—
ProShares Ultra Silver
Swap agreements			—				—				—				2,827,221				—				2,827,221
ProShares Ultra Yen
Foreign currency forward contracts			1,534,924				—				1,534,924				15,639				—				15,639
ProShares UltraShort Euro
Foreign currency forward contracts			38,029				—				38,029				1,886,808				—				1,886,808
ProShares UltraShort Gold
Swap agreements			—				—				—				199,821				—				199,821
ProShares UltraShort Silver
Swap agreements			—				—				—				814,174				—				814,174
ProShares UltraShort Yen
Foreign currency forward contracts			129,697				—				129,697				1,441,622				—				1,441,622

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 December 31, 2022:

Fair Values of Derivative Instruments as of December 31, 2022
		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		$	74,159,577			$	—			$	74,159,577			$	—			$	—			$	—
ProShares Ultra Euro
Foreign currency forward contracts			514,115				—				514,115				98,459				—				98,459
ProShares Ultra Gold
Swap agreements			6,496,466				—				6,496,466				—				—				—
ProShares Ultra Silver
Swap agreements			39,224,212				—				39,224,212				—				—				—
ProShares Ultra Yen
Foreign currency forward contracts			1,152,834				—				1,152,834				168,285				—				168,285
ProShares UltraShort Euro
Foreign currency forward contracts			193,192				—				193,192				2,654,448				—				2,654,448
ProShares UltraShort Gold
Swap agreements			—				—				—				592,957				—				592,957
ProShares UltraShort Silver
Swap agreements			—				—				—				1,722,623				—				1,722,623
ProShares UltraShort Yen
Foreign currency forward contracts			963,369				—				963,369				3,990,802				—				3,990,802

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 December 31, 2023. 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, 2023
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
Citibank, N.A.		$	3,938,035			$	(3,938,035	)		$	—			$	—
Goldman Sachs International			4,896,240				(4,896,240	)			—				—
Morgan Stanley & Co. International PLC			2,449,576				(2,449,576	)			—				—
Societe Generale			3,727,284				(3,727,284	)			—				—
UBS AG			2,943,800				(2,943,800	)			—				—
ProShares Ultra Euro
Goldman Sachs International			162,672				—				—				162,672
UBS AG			144,277				—				—				144,277
ProShares Ultra Gold
Citibank, N.A.			1,321,903				(1,321,903	)			—				—
Goldman Sachs International			627,862				(627,862	)			—				—
UBS AG			1,128,828				(1,128,828	)			—				—
ProShares Ultra Silver
Citibank, N.A.			(906,324	)			—				906,324				—
Goldman Sachs International			(135,877	)			—				135,877				—
Morgan Stanley & Co. International PLC			(921,875	)			—				921,875				—
UBS AG			(863,145	)			—				863,145				—
ProShares Ultra Yen
Goldman Sachs International			646,861				(465,767	)			—				181,094
UBS AG			872,424				(618,104	)			—				254,320
ProShares UltraShort Euro
Goldman Sachs International			(964,142	)			—				964,142				—
UBS AG			(884,637	)			—				884,637				—
ProShares UltraShort Gold
Citibank, N.A.			(46,103	)			—				46,103				—
Goldman Sachs International			(60,261	)			—				60,261				—
UBS AG			(93,457	)			—				93,457				—
ProShares UltraShort Silver
Citibank, N.A.			126,314				—				—				126,314
Goldman Sachs International			56,804				—				—				56,804
Morgan Stanley & Co. International PLC			7,793				—				—				7,793
UBS AG			(1,005,085	)			—				1,005,085				—
ProShares UltraShort Yen
Goldman Sachs International			(701,077	)			—				701,077				—
UBS AG			(610,848	)			—				610,848				—

Asset (Liability) amounts shown in the table below represent amounts owed to (by) the Funds for the derivative-related investments at December 31, 2022. 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, 2022
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
Citibank, N.A.		$	11,723,388			$	—			$	(7,220,000	)		$	4,503,388
Goldman Sachs International			14,575,933				(9,281,322	)			—				5,294,611
Morgan Stanley & Co. International PLC			20,305,392				—				(12,510,000	)			7,795,392
Societe Generale			11,075,235				(7,038,055	)			—				4,037,180
UBS AG			16,479,629				(10,808,424	)			(41,993	)			5,629,212
ProShares Ultra Euro
Goldman Sachs International			217,491				—				—				217,491
UBS AG			198,165				(198,165	)			—				—
ProShares Ultra Gold
Citibank, N.A.			2,582,849				—				(2,570,000	)			12,849
Goldman Sachs International			1,226,772				(1,193,425	)			—				33,347
UBS AG			2,686,845				(2,682,652	)			(4,193	)			—
ProShares Ultra Silver
Citibank, N.A.			12,628,472				—				(12,628,472	)			—
Goldman Sachs International			1,667,621				(1,667,621	)			—				—
Morgan Stanley & Co. International PLC			13,862,180				—				(10,733,000	)			3,129,180

UBS AG			11,065,939				(11,065,939	)			—				—
ProShares Ultra Yen
Goldman Sachs International			683,120				(308,636	)			—				374,484
UBS AG			301,429				—				—				301,429
ProShares UltraShort Euro
Goldman Sachs International			(1,121,150	)			—				1,121,150				—
UBS AG			(1,340,106	)			—				1,340,106				—
ProShares UltraShort Gold
Citibank, N.A.			(181,291	)			—				181,291				—
Goldman Sachs International			(231,533	)			—				231,533				—
UBS AG			(180,133	)			—				180,133				—
ProShares UltraShort Silver
Citibank, N.A.			(203,969	)			—				203,969				—
Goldman Sachs International			(743,029	)			—				743,029				—
Morgan Stanley & Co. International PLC			(587,758	)			—				587,758				—
UBS AG			(187,867	)			—				187,867				—
ProShares UltraShort Yen
Goldman Sachs International			(936,322	)			—				936,322				—
UBS AG			(2,091,111	)			—				1,690,000				(401,111	)

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