v3.24.3

Organization | 6 Months Ended
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Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Organization | NOTE 1 - ORGANIZATION ProShares Trust II (the “Trust”) is a Delaware statutory trust formed on October 9, 2007 and is currently organized into separate series (each, a “Fund” and collectively, the “Funds”). As of June 30, 2024, the following sixteen series of the Trust have commenced investment operations: (i) ProShares VIX Short-Term Futures ETF and ProShares VIX Mid-Term Futures ETF (each, a “Matching VIX Fund” and collectively, the “Matching VIX Funds”); (ii) ProShares Short VIX Short-Term Futures ETF and ProShares Ultra VIX Short-Term Futures ETF (each, a “Geared VIX Fund” and collectively, the “Geared VIX Funds”); and (iii) ProShares UltraShort Bloomberg Crude Oil, ProShares UltraShort Bloomberg Natural Gas, ProShares UltraShort Gold, ProShares UltraShort Silver, ProShares UltraShort Euro, ProShares UltraShort Yen, ProShares Ultra Bloomberg Crude Oil, ProShares Ultra Bloomberg Natural Gas, ProShares Ultra Gold, ProShares Ultra Silver, ProShares Ultra Euro and ProShares Ultra Yen (each, a “Leveraged Fund” and collectively, the “Leveraged Funds”); Each of the Funds listed above issues common units of beneficial interest (“Shares”), which represent units of fractional undivided beneficial interest in and ownership of only that Fund. The Shares of each Fund, other than the Matching VIX Funds and the Geared VIX Funds, are listed on the NYSE Arca, Inc. (“NYSE Arca”). The Matching VIX Funds and the Geared VIX Funds are listed on the Cboe BZX Exchange (“Cboe BZX”). The Leveraged Funds and the Geared VIX Funds, are collectively referred to as the “Geared Funds” in these Notes to Financial Statements. The Geared VIX Funds and the Matching VIX Funds are collectively referred to as the “VIX Funds” in these Notes to Financial Statements. The Trust had no operations prior to November 24, 2008, other than matters relating to its organization, the registration of each series under the Securities Act of 1933, as amended, and the sale and issuance to ProShare Capital Management LLC (the “Sponsor”) of fourteen Shares at an aggregate purchase price of $350 in each of the following Funds: ProShares UltraShort Bloomberg Crude Oil, ProShares UltraShort Gold, ProShares UltraShort Silver, ProShares UltraShort Euro, ProShares UltraShort Yen, ProShares Ultra Bloomberg Crude Oil, ProShares Ultra Gold, ProShares Ultra Silver, ProShares Ultra Euro and ProShares Ultra Yen. Groups of Funds are collectively referred to in several different ways. References to “Short Funds,” “UltraShort Funds,” or “Ultra Funds” refer to the different Funds based upon their investment objectives, but without distinguishing among the Funds’ benchmarks. References to “Commodity Index Funds,” “Commodity Funds” and “Currency Funds” refer to the different Funds according to their general benchmark categories without distinguishing among the Funds’ investment objectives or Fund-specific benchmarks. References to “VIX Funds” refer to the different Funds based upon their investment objective and their general benchmark categories. The “Short” Fund seeks daily investment results, before fees and expenses, that correspond to one-half the inverse (-0.5x) of the daily performance of its corresponding benchmark. Each “UltraShort” Fund seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of its corresponding benchmark. Each “Ultra” Fund seeks daily investment results, before fees and expenses, that correspond to either one and one-half times (1.5x) or two times (2x) the daily performance of its corresponding benchmark. Each Matching VIX Fund seeks investment results, before fees and expenses, both for a single day and over time, that match (1x) the performance of its corresponding benchmark. Daily performance is measured from the calculation of each Fund’s net asset value (“NAV”) to the Fund’s next NAV calculation. The Geared Funds do not seek to achieve their stated investment objectives over a period of time greater than a single day because mathematical compounding prevents the Geared Funds from achieving such results. Accordingly, results over periods of time greater than a single day should not be expected to be a simple multiple (e.g., -0.5x, -2x, 1.5x, or 2x) of the period return of the corresponding benchmark and will likely differ significantly. Share Splits and Reverse Share Splits The table below includes forward and reverse Share splits for the Funds during the six months June 30, 2024, and during the year ended December 31, 2023. The ticker symbols for these Funds did not change, and each Fund continues to trade on its primary listing exchange, as applicable.
Fund |  | Execution Date (Prior to Opening of Trading) |  | Type of Split |  | Date Trading Resumed at Post-Split Price
ProShares VIX Short-Term Futures |  | June 22, 2023 |  | 1-for-5 reverse Share split |  | June 23, 2023
ProShares Ultra VIX Short-Term Futures |  | June 22, 2023 |  | 1-for-10 reverse Share split |  | June 23, 2023
ProShares Ultra Bloomberg Natural Gas |  | June 22, 2023 |  | 1-for-20 reverse Share split |  | June 23, 2023
ProShares Short VIX Short-Term Futures |  | April 10, 2024 |  | 2-for-1 forward Share split |  | April 11, 2024
ProShares UltraShort Bloomberg Natural Gas |  | April 10, 2024 |  | 2-for-1 forward Share split |  | April 11, 2024
ProShares Ultra VIX Short-Term Futures |  | April 10, 2024 |  | 1-for-5 reverse Share split |  | April 11, 2024
The reverse splits were applied retroactively for all periods presented, reducing the number of Shares outstanding for each of the Funds, and resulted in a proportionate increase in the price per Share and per Share information of each such Fund. Therefore, the reverse splits did not change the aggregate net asset value of a shareholder’s investment at the time of the reverse split. The forward splits were applied retroactively for all periods presented, increasing the number of Shares outstanding for each of the Funds, and resulted in a proportionate decrease in the price per Share and per Share information of each such Fund. Therefore, the forward splits did not change the aggregate net asset value of a shareholder’s investment at the time of the forward split. Restatement of Previously Issued Form 10-Q and Form 10-K Filings ProShares Trust II (the “Trust”) identified an error related to the classification of amounts on the Statements of Financial Condition between “Segregated cash balances with brokers for futures contracts” and “Receivable (Payable) on open futures contracts” for Trust filings for each quarterly Form 10-Q and annual Form 10-K filing for the period December 31, 2021, through June 30, 2024, for five Funds. The Statement of Cash Flows was the only other statement affected by these misclassifications. No other financial statement or financial statement disclosure in the Forms 10-Q or Form 10-K filings were affected by these errors. The misclassifications did not change the Shareholder Equity, net asset value per share, or total return of any Fund. The Funds impacted were: ProShares Short VIX Short-Term Futures ETF, ProShares Ultra Bloomberg Natural Gas, ProShares Ultra VIX Short-Term Futures ETF, ProShares UltraShort Bloomberg Natural Gas, and ProShares VIX Short-Term Futures ETF (the “Affected Funds”). These misclassifications were caused by a misinterpretation of amounts on a futures commission merchant statement and resulted in reclassifications between accounts. There is no impact on the Affected Funds’ performance, investment results, net asset values or income. The impact of these adjustments is shown in the table below. Statements of Financial Condition PROSHARES SHORT VIX SHORT-TERM FUTURES ETF
|  | June 30, 2024 (unaudited) |  |  |  |  |  | December 31, 2023 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Restated |  |  |  |  |  | As Previously Reported |  |  | Adjustment |  |  | As Restated |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segregated cash balances withbrokers for futures contracts |  |  | 90,095,318 |  |  |  | 4,125,000 |  |  |  | 94,220,318 |  |  |  |  |  |  |  | 88,647,616 |  |  |  | 19,191,436 |  |  |  | 107,839,052 |
Receivable on open futures contracts |  |  | 7,748,578 |  |  |  | (4,125,000 | ) |  |  | 3,623,578 |  |  |  |  |  |  |  | 30,330,665 |  |  |  | (19,116,505 | ) |  |  | 11,214,160 |
Total Assets |  |  | NR |  |  |  | NR |  |  |  | NR |  |  |  |  |  |  |  | 283,337,788 |  |  |  | 74,931 |  |  |  | 283,412,719 |
Liabilities and shareholders’ equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payble on open futures contracts |  |  | NR |  |  |  | NR |  |  |  | NR |  |  |  |  |  |  |  | 372,680 |  |  |  | 74,931 |  |  |  | 447,611 |
Total Liabilities |  |  | NR |  |  |  | NR |  |  |  | NR |  |  |  |  |  |  |  | 16,153,429 |  |  |  | 74,931 |  |  |  | 16,228,360 |
Total liabilities and shareholders’ equity |  |  | NR |  |  |  | NR |  |  |  | NR |  |  |  |  |  |  |  | 283,337,788 |  |  |  | 74,931 |  |  |  | 283,412,719 |
Statements of Cash Flows |  | June 30, 2024 (unaudited) |  |  |  |  |  | June 30, 2023 (unaudited) |
|  | As Previously Reported |  |  | Adjustment |  |  | As Restated |  |  |  |  |  | As Previously Reported |  |  | Adjustment |  |  | As Restated |
Decrease (Increase) in receivable on open futures contracts |  |  | 22,582,087 |  |  |  | (14,991,505 | ) |  |  | 7,590,582 |  |  |  |  |  |  |  | 48,261,408 |  |  |  | (15,737,458 | ) |  |  | 32,523,950 |
Increase (Decrease) in payable on futures contracts |  |  | 1,758,361 |  |  |  | (74,931 | ) |  |  | 1,683,430 |  |  |  |  |  |  |  | NR |  |  |  | NR |  |  |  | NR |
Net Cash provided by (used in) operating activities |  |  | 16,072,852 |  |  |  | (15,066,436 | ) |  |  | 1,006,416 |  |  |  |  |  |  |  | 213,489,153 |  |  |  | (15,737,458 | ) |  |  | 197,751,695 |
Net Increase (decrease) in cash |  |  | (19,357,352 | ) |  |  | (15,066,436 | ) |  |  | (34,423,788 | ) |  |  |  |  |  |  | 39,640,617 |  |  |  | (15,737,458 | ) |  |  | 23,903,159 |
Cash, beginninng of period |  |  | 143,139,851 |  |  |  | 19,191,436 |  |  |  | 162,331,287 |  |  |  |  |  |  |  | 133,946,941 |  |  |  | 26,960,318 |  |  |  | 160,907,259 |
Cash, End of period |  |  | 123,782,499 |  |  |  | 4,125,000 |  |  |  | 127,907,499 |  |  |  |  |  |  |  | 173,587,558 |  |  |  | 11,222,860 |  |  |  | 184,810,418 |
Statements of Financial Condition PROSHARES ULTRA BLOOMBERG NATURAL GAS
|  | June 30, 2024 (unaudited) |  |  |  |  |  | December 31, 2023 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Restated |  |  |  |  |  | As Previously Reported |  |  | Adjustment |  |  | As Restated |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segregated cash balances withbrokers for futures contracts |  |  | 131,374,481 |  |  |  | 39,267,011 |  |  |  | 170,641,492 |  |  |  |  |  |  |  | 256,589,331 |  |  |  | 118,272,358 |  |  |  | 374,861,689 |
Receivable on open futures contracts |  |  | 34,615,849 |  |  |  | (34,615,849 | ) |  |  | — |  |  |  |  |  |  |  | 117,168,017 |  |  |  | (117,168,017 | ) |  |  | — |
Total Assets |  |  | 580,670,995 |  |  |  | 4,651,162 |  |  |  | 585,322,157 |  |  |  |  |  |  |  | 770,676,725 |  |  |  | 1,104,341 |  |  |  | 771,781,066 |
Liabilities and shareholders’ equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payble on open futures contracts |  |  | 39,579,590 |  |  |  | 4,651,162 |  |  |  | 44,230,752 |  |  |  |  |  |  |  | 20,739,542 |  |  |  | 1,104,341 |  |  |  | 21,843,883 |
Total Liabilities |  |  | 40,027,174 |  |  |  | 4,651,162 |  |  |  | 44,678,336 |  |  |  |  |  |  |  | 40,783,917 |  |  |  | 1,104,341 |  |  |  | 41,888,258 |
Total liabilities and shareholders’ equity |  |  | 580,670,995 |  |  |  | 4,651,162 |  |  |  | 585,322,157 |  |  |  |  |  |  |  | 770,676,725 |  |  |  | 1,104,341 |  |  |  | 771,781,066 |
Statements of Cash Flows |  | June 30, 2024 (unaudited) |  |  |  |  |  | June 30, 2023 (unaudited) |
|  | As Previously Reported |  |  | Adjustment |  |  | As Restated |  |  |  |  |  | As Previously Reported |  |  | Adjustment |  |  | As Restated |
Decrease (Increase) in receivable on open futures contracts |  |  | 82,552,168 |  |  |  | (82,552,168 | ) |  |  | — |  |  |  |  |  |  |  | 32,093,445 |  |  |  | (83,600,796 | ) |  |  | (51,507,351 | )
Increase (Decrease) in payable on futures contracts |  |  | 18,840,048 |  |  |  | 3,546,821 |  |  |  | 22,386,869 |  |  |  |  |  |  |  | (1,835,443 | ) |  |  | 10,300,096 |  |  |  | 8,464,653 |
Net Cash provided by (used in) operating activities |  |  | (51,888,404 | ) |  |  | (79,005,347 | ) |  |  | (130,893,751 | ) |  |  |  |  |  |  | (1,115,027,371 | ) |  |  | (73,300,700 | ) |  |  | (1,188,328,071 | )
Net Increase (decrease) in cash |  |  | (116,366,216 | ) |  |  | (79,005,347 | ) |  |  | (195,371,563 | ) |  |  |  |  |  |  | 504,553,914 |  |  |  | (73,300,700 | ) |  |  | 431,253,214 |
Cash, beginninng of period |  |  | 582,842,023 |  |  |  | 118,272,358 |  |  |  | 701,114,381 |  |  |  |  |  |  |  | 176,734,664 |  |  |  | 150,981,820 |  |  |  | 327,716,484 |
Cash, End of period |  |  | 466,475,807 |  |  |  | 39,267,011 |  |  |  | 505,742,818 |  |  |  |  |  |  |  | 681,288,578 |  |  |  | 77,681,120 |  |  |  | 758,969,698 |
Statements of Financial Condition PROSHARES ULTRA VIX SHORT-TERM FUTURES ETF
|  | June 30, 2024 (unaudited) |  |  |  |  |  | December 31, 2023 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Restated |  |  |  |  |  | As Previously Reported |  |  | Adjustment |  |  | As Restated |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segregated cash balances withbrokers for futures contracts |  |  | 120,823,595 |  |  |  | 16,580,044 |  |  |  | 137,403,639 |  |  |  |  |  |  |  | 210,845,154 |  |  |  | 39,950,507 |  |  |  | 250,795,661 |
Receivable on open futures contracts |  |  | 26,176,118 |  |  |  | (16,580,044 | ) |  |  | 9,596,074 |  |  |  |  |  |  |  | 50,510,206 |  |  |  | (39,950,507 | ) |  |  | 10,559,699 |
Total Assets |  |  | NR |  |  |  | NR |  |  |  | NR |  |  |  |  |  |  |  | NR |  |  |  | NR |  |  |  | NR |
Liabilities and shareholders’ equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payble on open futures contracts |  |  | NR |  |  |  | NR |  |  |  | NR |  |  |  |  |  |  |  | NR |  |  |  | NR |  |  |  | NR |
Total Liabilities |  |  | NR |  |  |  | NR |  |  |  | NR |  |  |  |  |  |  |  | NR |  |  |  | NR |  |  |  | NR |
Total liabilities and shareholders’ equity |  |  | NR |  |  |  | NR |  |  |  | NR |  |  |  |  |  |  |  | NR |  |  |  | NR |  |  |  | NR |
Statements of Cash Flows |  | June 30, 2024 (unaudited) |  |  |  |  |  | June 30, 2023 (unaudited) |
|  | As Previously Reported |  |  | Adjustment |  |  | As Restated |  |  |  |  |  | As Previously Reported |  |  | Adjustment |  |  | As Restated |
Decrease (Increase) in receivable on open futures contracts |  |  | 24,334,088 |  |  |  | (23,370,463 | ) |  |  | 963,625 |  |  |  |  |  |  |  | 159,024,755 |  |  |  | (138,417,492 | ) |  |  | 20,607,263 |
Increase (Decrease) in payable on futures contracts |  |  | NR |  |  |  | NR |  |  |  | NR |  |  |  |  |  |  |  | 1,707,397 |  |  |  | 578,252 |  |  |  | 2,285,649 |
Net Cash provided by (used in) operating activities |  |  | (145,921,103 | ) |  |  | (23,370,463 | ) |  |  | (169,291,566 | ) |  |  |  |  |  |  | (451,561,189 | ) |  |  | (137,839,240 | ) |  |  | (589,400,429 | )
Net Increase (decrease) in cash |  |  | (141,696,813 | ) |  |  | (23,370,463 | ) |  |  | (165,067,276 | ) |  |  |  |  |  |  | (56,019,105 | ) |  |  | (137,839,240 | ) |  |  | (193,858,345 | )
Cash, beginninng of period |  |  | 297,461,110 |  |  |  | 39,950,507 |  |  |  | 337,411,617 |  |  |  |  |  |  |  | 394,847,507 |  |  |  | 188,366,332 |  |  |  | 583,213,839 |
Cash, End of period |  |  | 155,764,297 |  |  |  | 16,580,044 |  |  |  | 172,344,341 |  |  |  |  |  |  |  | 338,828,402 |  |  |  | 50,527,092 |  |  |  | 389,355,494 |
Statements of Financial Condition PROSHARES ULTRASHORT BLOOMBERG NATURAL GAS
|  | June 30, 2024 (unaudited) |  |  |  |  |  | December 31, 2023 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Restated |  |  |  |  |  | As Previously Reported |  |  | Adjustment |  |  | As Restated |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segregated cash balances withbrokers for futures contracts |  |  | 27,590,142 |  |  |  | 17,647,619 |  |  |  | 45,237,761 |  |  |  |  |  |  |  | 35,326,076 |  |  |  | 27,563,925 |  |  |  | 62,890,001 |
Receivable on open futures contracts |  |  | 25,789,178 |  |  |  | (17,647,619 | ) |  |  | 8,141,559 |  |  |  |  |  |  |  | 22,414,082 |  |  |  | (17,967,880 | ) |  |  | 4,446,202 |
Total Assets |  |  | NR |  |  |  | NR |  |  |  | NR |  |  |  |  |  |  |  | 141,081,961 |  |  |  | 9,596,045 |  |  |  | 150,678,006 |
Liabilities and shareholders’ equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payble on open futures contracts |  |  | NR |  |  |  | NR |  |  |  | NR |  |  |  |  |  |  |  | — |  |  |  | 9,596,045 |  |  |  | 9,596,045 |
Total Liabilities |  |  | NR |  |  |  | NR |  |  |  | NR |  |  |  |  |  |  |  | 118,869 |  |  |  | 9,596,045 |  |  |  | 9,714,914 |
Total liabilities and shareholders’ equity |  |  | NR |  |  |  | NR |  |  |  | NR |  |  |  |  |  |  |  | 141,081,961 |  |  |  | 9,596,045 |  |  |  | 150,678,006 |
Statements of Cash Flows |  | June 30, 2024 (unaudited) |  |  |  |  |  | June 30, 2023 (unaudited) |
|  | As Previously Reported |  |  | Adjustment |  |  | As Restated |  |  |  |  |  | As Previously Reported |  |  | Adjustment |  |  | As Restated |
Decrease (Increase) in receivable on open futures contracts |  |  | (3,375,096 | ) |  |  | (320,261 | ) |  |  | (3,695,357 | ) |  |  |  |  |  |  | 7,788,147 |  |  |  | (12,585,320 | ) |  |  | (4,797,173 | )
Increase (Decrease) in payable on futures contracts |  |  | 26,716 |  |  |  | (9,596,045 | ) |  |  | (9,569,329 | ) |  |  |  |  |  |  | 6,151,798 |  |  |  | — |  |  |  | 6,151,798 |
Net Cash provided by (used in) operating activities |  |  | (46,492,042 | ) |  |  | (9,916,306 | ) |  |  | (56,408,348 | ) |  |  |  |  |  |  | 167,968,674 |  |  |  | (12,585,320 | ) |  |  | 155,383,354 |
Net Increase (decrease) in cash |  |  | (71,839,472 | ) |  |  | (9,916,306 | ) |  |  | (81,755,778 | ) |  |  |  |  |  |  | 54,186,781 |  |  |  | (12,585,320 | ) |  |  | 41,601,461 |
Cash, beginninng of period |  |  | 108,608,640 |  |  |  | 27,563,925 |  |  |  | 136,172,565 |  |  |  |  |  |  |  | 44,482,540 |  |  |  | 32,958,640 |  |  |  | 77,441,180 |
Cash, End of period |  |  | 36,769,168 |  |  |  | 17,647,619 |  |  |  | 54,416,787 |  |  |  |  |  |  |  | 98,669,321 |  |  |  | 20,373,320 |  |  |  | 119,042,641 |
Statements of Financial Condition PROSHARES VIX SHORT-TERM FUTURES ETF
|  | June 30, 2024 (unaudited) |  |  |  |  |  | December 31, 2023 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Restated |  |  |  |  |  | As Previously Reported |  |  | Adjustment |  |  | As Restated |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segregated cash balances withbrokers for futures contracts |  |  | 47,977,287 |  |  |  | 9,471,520 |  |  |  | 57,448,807 |  |  |  |  |  |  |  | 59,164,337 |  |  |  | 13,685,056 |  |  |  | 72,849,393 |
Receivable on open futures contracts |  |  | 14,144,463 |  |  |  | (9,471,520 | ) |  |  | 4,672,943 |  |  |  |  |  |  |  | 16,047,893 |  |  |  | (13,685,056 | ) |  |  | 2,362,837 |
Total Assets |  |  | NR |  |  |  | NR |  |  |  | NR |  |  |  |  |  |  |  | NR |  |  |  | NR |  |  |  | NR |
Liabilities and shareholders’ equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payble on open futures contracts |  |  | NR |  |  |  | NR |  |  |  | NR |  |  |  |  |  |  |  | NR |  |  |  | NR |  |  |  | NR |
Total Liabilities |  |  | NR |  |  |  | NR |  |  |  | NR |  |  |  |  |  |  |  | NR |  |  |  | NR |  |  |  | NR |
Total liabilities and shareholders’ equity |  |  | NR |  |  |  | NR |  |  |  | NR |  |  |  |  |  |  |  | NR |  |  |  | NR |  |  |  | NR |
Statements of Cash Flows |  | June 30, 2024 (unaudited) |  |  |  |  |  | June 30, 2023 (unaudited) |
|  | As Previously Reported |  |  | Adjustment |  |  | As Restated |  |  |  |  |  | As Previously Reported |  |  | Adjustment |  |  | As Restated |
Decrease (Increase) in receivable on open futures contracts |  |  | 1,903,430 |  |  |  | (4,213,536 | ) |  |  | (2,310,106 | ) |  |  |  |  |  |  | 34,137,415 |  |  |  | (31,753,227 | ) |  |  | 2,384,188 |
Increase (Decrease) in payable on futures contracts |  |  | (580 | ) |  |  | — |  |  |  | (580 | ) |  |  |  |  |  |  | 1,907,775 |  |  |  | 271,992 |  |  |  | 2,179,767 |
Net Cash provided by (used in) operating activities |  |  | (52,899,431 | ) |  |  | (4,213,536 | ) |  |  | (57,112,967 | ) |  |  |  |  |  |  | (139,705,423 | ) |  |  | (31,481,235 | ) |  |  | (171,186,658 | )
Net Increase (decrease) in cash |  |  | (12,113,595 | ) |  |  | (4,213,536 | ) |  |  | (16,327,131 | ) |  |  |  |  |  |  | 13,660,188 |  |  |  | (31,481,235 | ) |  |  | (17,821,047 | )
Cash, beginninng of period |  |  | 81,441,919 |  |  |  | 13,685,056 |  |  |  | 95,126,975 |  |  |  |  |  |  |  | 125,161,810 |  |  |  | 50,118,046 |  |  |  | 175,279,856 |
Cash, End of period |  |  | 69,328,324 |  |  |  | 9,471,520 |  |  |  | 78,799,844 |  |  |  |  |  |  |  | 138,821,998 |  |  |  | 18,636,811 |  |  |  | 157,458,809 |
Statements of Financial Condition PROSHARES TRUST II
|  | June 30, 2024 (unaudited) |  |  |  |  |  | December 31, 2023 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Restated |  |  |  |  |  | As Previously Reported |  |  | Adjustment |  |  | As Restated |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segregated cash balances withbrokers for futures contracts |  |  | 545,612,450 |  |  |  | 87,091,194 |  |  |  | 632,703,644 |  |  |  |  |  |  |  | 810,718,438 |  |  |  | 218,663,282 |  |  |  | 1,029,381,720 |
Receivable on open futures contracts |  |  | 124,302,758 |  |  |  | (82,440,032 | ) |  |  | 41,862,726 |  |  |  |  |  |  |  | 237,610,648 |  |  |  | (207,887,965 | ) |  |  | 29,722,683 |
Total Assets |  |  | 3,303,805,645 |  |  |  | 4,651,162 |  |  |  | 3,308,456,807 |  |  |  |  |  |  |  | 3,359,443,290 |  |  |  | 10,775,317 |  |  |  | 3,370,218,607 |
Liabilities and shareholders’ equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payble on open futures contracts |  |  | 43,140,520 |  |  |  | 4,651,162 |  |  |  | 47,791,682 |  |  |  |  |  |  |  | 27,280,746 |  |  |  | 10,775,317 |  |  |  | 38,056,063 |
Total Liabilities |  |  | 182,650,305 |  |  |  | 4,651,162 |  |  |  | 187,301,467 |  |  |  |  |  |  |  | 76,611,164 |  |  |  | 10,775,317 |  |  |  | 87,386,481 |
Total liabilities and shareholders’ equity |  |  | 3,303,805,645 |  |  |  | 4,651,162 |  |  |  | 3,308,456,807 |  |  |  |  |  |  |  | 3,359,443,290 |  |  |  | 10,775,317 |  |  |  | 3,370,218,607 |
Statements of Cash Flows |  | June 30, 2024 (unaudited) |  |  |  |  |  | June 30, 2023 (unaudited) |
|  | As Previously Reported |  |  | Adjustment |  |  | As Restated |  |  |  |  |  | As Previously Reported |  |  | Adjustment |  |  | As Restated |
Decrease (Increase) in receivable on open futures contracts |  |  | 113,307,890 |  |  |  | (125,447,933 | ) |  |  | (12,140,043 | ) |  |  |  |  |  |  | 286,323,344 |  |  |  | (282,094,293 | ) |  |  | 4,229,051 |
Increase (Decrease) in payable on futures contracts |  |  | 15,859,774 |  |  |  | (6,124,155 | ) |  |  | 9,735,619 |  |  |  |  |  |  |  | 2,690,636 |  |  |  | 11,150,340 |  |  |  | 13,840,976 |
Net Cash provided by (used in) operating activities |  |  | (726,075,923 | ) |  |  | (131,572,088 | ) |  |  | (857,648,011 | ) |  |  |  |  |  |  | (1,237,446,626 | ) |  |  | (270,943,953 | ) |  |  | (1,508,390,579 | )
Net Increase (decrease) in cash |  |  | (917,450,161 | ) |  |  | (131,572,088 | ) |  |  | (1,049,022,249 | ) |  |  |  |  |  |  | 359,110,719 |  |  |  | (270,943,953 | ) |  |  | 88,166,766 |
Cash, beginninng of period |  |  | 2,379,042,825 |  |  |  | 218,663,282 |  |  |  | 2,597,706,107 |  |  |  |  |  |  |  | 1,826,767,616 |  |  |  | 449,385,156 |  |  |  | 2,276,152,772 |
Cash, End of period |  |  | 1,461,592,664 |  |  |  | 87,091,194 |  |  |  | 1,548,683,858 |  |  |  |  |  |  |  | 2,185,878,335 |  |  |  | 178,441,203 |  |  |  | 2,364,319,538 |
NR - Not Restated.

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