Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2024

Cut-off Times and Times of Calculation of Funds' Final Net Asset Value for Creation and Redemption of Fund Shares

The

cut-off

times and the times of the calculation of the Funds’ final net asset value for creation and redemption of fund Shares for the six months ended June 30, 2024 were typically as follows. All times are Eastern Standard Time:


Fund	Create/Redeem Cut-off*	NAV Calculation Time	NAV Calculation Date
Ultra Silver and UltraShort Silver	1:00 p.m.	1:25 p.m.	June 28, 2024
Ultra Gold and UltraShort Gold	1:00 p.m.	1:30 p.m.	June 28, 2024
Ultra Bloomberg Crude Oil,
Ultra Bloomberg Natural Gas,
UltraShort Bloomberg Crude Oil and
UltraShort Bloomberg Natural Gas	2:00 p.m.	2:30 p.m.	June 28, 2024
Ultra Euro,
Ultra Yen,
UltraShort Euro and
UltraShort Yen	3:00 p.m.	4:00 p.m.	June 28, 2024
Short VIX Short-Term Futures ETF,
Ultra VIX Short-Term Futures ETF,
VIX Mid-Term Futures ETF and
VIX Short-Term Futures ETF	2:00 p.m.	4:00 p.m.	June 28, 2024

*	Although the Funds’ shares may continue to trade on secondary markets subsequent to the calculation of the final NAV, these times represent the final opportunity to transact in creation or redemption units for the six months ended June 30, 2024.

Valuation of Investments using Fair Value Hierarchy

The following table summarizes the valuation of investments at June 30, 2024 using the fair value hierarchy:


	Level I - Quoted Prices					Level II - Other Significant Observable Inputs
Fund	Short-Term U.S. Government and Agencies		Futures Contracts *			Foreign Currency Forward Contracts			Swap Agreements			Total
ProShares Short VIX Short-Term Futures ETF	$	169,047,283	$	3,835,199		$	—		$	—		$	172,882,482
ProShares Ultra Bloomberg Crude Oil		387,833,913		12,882,445			—			55,947,592			456,663,950
ProShares Ultra Bloomberg Natural Gas		—		(153,035,669	)		—			—			(153,035,669	)
ProShares Ultra Euro		—		—			(140,398	)		—			(140,398	)
ProShares Ultra Gold		194,012,992		(767,692	)		—			(6,552,657	)		186,692,643
ProShares Ultra Silver		457,266,538		(6,674,294	)		—			(49,402,333	)		401,189,911
ProShares Ultra VIX Short-Term Futures ETF		49,941,835		(6,204,920	)		—			—			43,736,915
ProShares Ultra Yen		—		—			(2,902,058	)		—			(2,902,058	)
ProShares UltraShort Bloomberg Crude Oil		104,416,492		(13,555,729	)		—			—			90,860,763
ProShares UltraShort Bloomberg Natural Gas		89,475,883		40,824,143			—			—			130,300,026
ProShares UltraShort Euro		—		—			919,949			—			919,949
ProShares UltraShort Gold		—		167,105			—			408,700			575,805
ProShares UltraShort Silver		—		882,431			—			3,476,663			4,359,094
ProShares UltraShort Yen		—		—			3,156,094			—			3,156,094
ProShares VIX Mid-Term Futures ETF		49,522,415		136,975			—			—			49,659,390
ProShares VIX Short-Term Futures ETF		64,756,617		(2,660,820	)		—			—			62,095,797

Combined Trust:	$	1,566,273,968	$	(124,170,826	)	$	1,033,587		$	3,877,965		$	1,447,014,694

*	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.

The following table summarizes the valuation of investments at December 31, 2023 using the fair value hierarchy:


	Level I - Quoted Prices					Level II - Other Significant Observable Inputs
Fund	Short-Term U.S. Government and Agencies		Futures Contracts *			Foreign Currency Forward Contracts			Swap Agreements			Total
ProShares Short VIX Short-Term Futures ETF	$	109,410,342	$	12,640,624		$	—		$	—		$	122,050,966
ProShares Ultra Bloomberg Crude Oil		233,476,941		(3,515,232	)		—			17,954,935			247,916,644
ProShares Ultra Bloomberg Natural Gas		64,459,117		43,607,070			—			—			108,066,187
ProShares Ultra Euro		—		—			306,949			—			306,949
ProShares Ultra Gold		59,507,594		4,096,275			—			3,078,593			66,682,462
ProShares Ultra Silver		114,276,025		12,400,748			—			(2,827,221	)		123,849,552
ProShares Ultra VIX Short-Term Futures ETF		—		(31,183,911	)		—			—			(31,183,911	)
ProShares Ultra Yen		—		—			1,519,285			—			1,519,285
ProShares UltraShort Bloomberg Crude Oil		49,683,885		22,436,319			—			—			72,120,204
ProShares UltraShort Bloomberg Natural Gas		—		(3,553,507	)		—			—			(3,553,507	)
ProShares UltraShort Euro		—		—			(1,848,779	)		—			(1,848,779	)
ProShares UltraShort Gold		—		(144,231	)		—			(199,821	)		(344,052	)
ProShares UltraShort Silver		—		1,689,046			—			(814,174	)		874,872
ProShares UltraShort Yen		—		—			(1,311,925	)		—			(1,311,925	)
ProShares VIX Mid-Term Futures ETF		—		(3,745,676	)		—			—			(3,745,676	)
ProShares VIX Short-Term Futures ETF		59,660,373		(9,664,094	)		—			—			49,996,279

Combined Trust:	$	690,474,277	$	45,063,431		$	(1,334,470	)	$	17,192,312		$	751,395,550

*	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.