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Financial Highlights

12 Months Ended

Dec. 31, 2025

Quarterly Financial Information Disclosure [Abstract]

NOTE 6 – FINANCIAL HIGHLIGHTS

Selected data for a Share outstanding throughout the year ended December 31, 2025:

For the Year Ended December 31, 2025


Per Share Operating Performance	Short VIX Short-Term Futures ETF			Ultra Bloomberg Crude Oil			Ultra Bloomberg Natural Gas			Ultra Euro			Ultra Gold *			Ultra Silver
Net asset value, at December 31, 2024	$	50.03		$	27.49		$	54.84		$	10.46		$	23.36		$	33.56
Net investment income (loss)		1.05			0.46			0.83			0.32			1.13			1.54
Net realized and unrealized gain (loss)#		4.40			(8.65	)		(33.12	)		2.39			31.42			120.85
Change in net asset value from operations		5.45			(8.19	)		(32.29	)		2.71			32.55			122.39
Net asset value, at December 31, 2025	$	55.48		$	19.30		$	22.55		$	13.17		$	55.91		$	155.95
Market value per share, at December 31, 2024 †	$	50.06		$	27.50		$	55.82		$	10.45		$	23.37		$	33.67
Market value per share, at December 31, 2025 †	$	55.38		$	19.32		$	22.90		$	13.16		$	55.52		$	155.12
Total Return, at net asset value		10.9	%		(29.8	)%		(58.9	)%		25.9	%		139.3	%		364.7	%
Total Return, at market value		10.6	%		(29.8	)%		(59.0	)%		25.9	%		137.6	%		360.7	%
Ratios to Average Net Assets
Expense ratio^^		1.18	%		1.00	%		1.39	%		0.95	%		0.97	%		0.98	%
Net investment income gain (loss)		2.35	%		2.00	%		2.19	%		2.61	%		2.89	%		2.59	%

*	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 applicable primary listing exchange, which may be later than when the Funds’ net asset value is calculated.

^^	The expense ratio would be 0.95%, 0.95%, 0.95%, 0.95%, 0.95% and 0.95%, respectively, if brokerage commissions and futures account fees were excluded.

For the Year Ended December 31, 2025


Per Share Operating Performance	Ultra VIX Short-Term Futures ETF *			Ultra Yen			UltraShort Bloomberg Crude Oil			UltraShort Bloomberg Natural Gas			UltraShort Euro			UltraShort Gold *
Net asset value, at December 31, 2024	$	103.86		$	20.23		$	16.93		$	43.61		$	34.91		$	70.22
Net investment income (loss)		0.89			0.57			0.47			0.61			0.78			0.89
Net realized and unrealized gain (loss)#		(68.89	)		(1.72	)		2.24			(8.43	)		(7.29	)		(45.13	)
Change in net asset value from operations		(68.00	)		(1.15	)		2.71			(7.82	)		(6.51	)		(44.24	)
Net asset value, at December 31, 2025	$	35.86		$	19.08		$	19.64		$	35.79		$	28.40		$	25.98
Market value per share, at December 31, 2024 †	$	103.60		$	20.35		$	16.92		$	42.74		$	34.92		$	70.32
Market value per share, at December 31, 2025 †	$	35.93		$	19.06		$	19.61		$	35.27		$	28.33		$	26.15
Total Return, at net asset value		(65.5	)%		(5.7	)%		16.0	%		(17.9	)%		(18.7	)%		(63.0	)%
Total Return, at market value		(65.3	)%		(6.3	)%		15.9	%		(17.5	)%		(18.9	)%		(62.8	)%
Ratios to Average Net Assets
Expense ratio^^		1.75	%		0.95	%		1.10	%		1.43	%		0.95	%		0.98	%
Net investment income gain (loss)		1.25	%		2.62	%		2.65	%		2.36	%		2.60	%		2.35	%

*	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 applicable primary listing exchange, which may be later than when the Funds’ net asset value is calculated.

^^	The expense ratio would be 0.95%, 0.95%, 0.95%, 0.95%, 0.95% and 0.95%, respectively, if brokerage commissions and futures account fees were excluded.

For the Year Ended December 31, 2025


Per Share Operating Performance	UltraShort Silver*			UltraShort Yen			VIX Mid- Term Futures ETF			VIX Short- Term Futures ETF
Net asset value, at December 31, 2024	$	423.96		$	47.66		$	14.51		$	45.05
Net investment income (loss)		2.62			1.17			0.41			0.87
Net realized and unrealized gain (loss)#		(373.35	)		2.11			0.32			(20.19	)
Change in net asset value from operations		(370.73	)		3.28			0.73			(19.32	)
Net asset value, at December 31, 2025	$	53.23		$	50.94		$	15.24		$	25.73
Market value per share, at December 31, 2024 †	$	420.00		$	46.68		$	14.46		$	45.02
Market value per share, at December 31, 2025 †	$	53.40		$	50.90		$	15.27		$	25.64
Total Return, at net asset value		(87.5	)%		6.9	%		5.0	%		(42.9	)%
Total Return, at market value		(87.3	)%		9.0	%		5.6	%		(43.1	)%
Ratios to Average Net Assets
Expense ratio^^		1.01	%		0.95	%		1.00	%		1.19	%
Net investment income gain (loss)		1.79	%		2.60	%		2.57	%		2.26	%

*	See Note 8 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 applicable primary listing exchange, which may be later than when the Funds’ net asset value is calculated.

^^	The expense ratio would be 0.95%, 0.95%, 0.85% and 0.85%, respectively, if brokerage commissions and futures account fees were excluded.

Selected data for a Share outstanding throughout the year ended December 31, 2024:

For the Year Ended December 31, 2024


Per Share Operating Performance	Short VIX Short-Term Futures ETF *			Ultra Bloomberg Crude Oil			Ultra Bloomberg Natural Gas *			Ultra Euro			Ultra Gold *			Ultra Silver
Net asset value, at December 31, 2023	$	51.69		$	26.28		$	142.73		$	11.86		$	15.96		$	27.29
Net investment income (loss)		1.72			0.93			1.81			0.41			0.77			1.29
Net realized and unrealized gain (loss)#		(3.38	)		0.28			(89.70	)		(1.81	)		6.63			4.98
Change in net asset value from operations		(1.66	)		1.21			(87.89	)		(1.40	)		7.40			6.27
Net asset value, at December 31, 2024	$	50.03		$	27.49		$	54.84		$	10.46		$	23.36		$	33.56
Market value per share, at December 31, 2023 †	$	51.70		$	26.10		$	142.20		$	11.84		$	15.97		$	27.17
Market value per share, at December 31, 2024 †	$	50.06		$	27.50		$	55.82		$	10.45		$	23.37		$	33.67
Total Return, at net asset value		(3.2	)%		4.6	%		(61.6	)%		(11.8	)%		46.4	%		23.0	%
Total Return, at market value		(3.2	)%		5.4	%		(60.8	)%		(11.7	)%		46.4	%		23.9	%
Ratios to Average Net Assets
Expense ratio^^		1.21	%		0.99	%		1.47	%		0.95	%		0.97	%		0.98	%
Net investment income gain (loss)		3.22	%		3.21	%		2.92	%		3.59	%		3.76	%		3.62	%

*	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 applicable primary listing exchange, which may be later than when the Funds’ net asset value is calculated.

^^	The expense ratio would be 0.95%, 0.95%, 0.95%, 0.95%, 0.95% and 0.95%, respectively, if brokerage commissions and futures account fees were excluded.

For the Year Ended December 31, 2024


Per Share Operating Performance	Ultra VIX Short-Term Futures ETF *			Ultra Yen			UltraShort Bloomberg Crude Oil			UltraShort Bloomberg Natural Gas *
Net asset value, at December 31, 2023	$	210.87		$	27.46		$	20.75		$	48.05
Net investment income (loss)		2.76			0.77			0.64			1.64
Net realized and unrealized gain (loss)#		(109.77	)		(8.00	)		(4.46	)		(6.08	)
Change in net asset value from operations		(107.01	)		(7.23	)		(3.82	)		(4.44	)
Net asset value, at December 31, 2024	$	103.86		$	20.23		$	16.93		$	43.61
Market value per share, at December 31, 2023 †	$	211.00		$	27.49		$	20.89		$	48.21
Market value per share, at December 31, 2024 †	$	103.60		$	20.35		$	16.92		$	42.74
Total Return, at net asset value		(50.7	)%		(26.3	)%		(18.4	)%		(9.2	)%
Total Return, at market value		(50.9	)%		(26.0	)%		(19.0	)%		(11.3	)%
Ratios to Average Net Assets
Expense ratio^^		1.86	%		0.95	%		1.06	%		1.82	%
Net investment income gain (loss)		2.04	%		3.40	%		3.67	%		2.82	%

*	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 applicable primary listing exchange, which may be later than when the Funds’ net asset value is calculated.

^^	The expense ratio would be 0.95%, 0.95%, 0.95% and 0.95%, respectively, if brokerage commissions and futures account fees were excluded.

For the Year Ended December 31, 2024


Per Share Operating Performance	UltraShort Euro			UltraShort Gold *			UltraShort Silver * *			UltraShort Yen *			VIX Mid- Term Futures ETF			VIX Short- Term Futures ETF *
Net asset value, at December 31, 2023	$	29.16		$	105.56		$	725.63		$	34.44		$	16.74		$	61.99
Net investment income (loss)		1.06			2.50			13.94			1.44			0.53			1.61
Net realized and unrealized gain (loss)#		4.69			(37.84	)		(315.61	)		11.78			(2.76	)		(18.55	)
Change in net asset value from operations		5.75			(35.34	)		(301.67	)		13.22			(2.23	)		(16.94	)
Net asset value, at December 31, 2024	$	34.91		$	70.22		$	423.96		$	47.66		$	14.51		$	45.05
Market value per share, at December 31, 2023 †	$	29.15		$	105.48		$	729.60		$	34.47		$	16.75		$	62.04
Market value per share, at December 31, 2024 †	$	34.92		$	70.32		$	420.00		$	46.68		$	14.46		$	45.02
Total Return, at net asset value		19.7	%		(33.5	)%		(41.6	)%		38.4	%		(13.3	)%		(27.3	)%
Total Return, at market value		19.8	%		(33.3	)%		(42.4	)%		35.4	%		(13.7	)%		(27.4	)%
Ratios to Average Net Assets
Expense ratio^^		0.95	%		0.98	%		1.03	%		0.95	%		1.10	%		1.09	%
Net investment income gain (loss)		3.40	%		3.10	%		2.90	%		3.42	%		3.56	%		3.22	%

*	See Note 1 of these Notes to Financial Statements.

**	See Note 1 and Note 8 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 applicable primary listing exchange, which may be later than when the Funds’ net asset value is calculated.

^^	The expense ratio would be 0.95%, 0.95%, 0.95%, 0.95%, 0.85% and 0.85%, respectively, if brokerage commissions and futures account fees were excluded.

Selected data for a Share outstanding throughout the year ended December 31, 2023

For the Year Ended December 31, 2023


Per Share Operating Performance	Short VIX Short-Term Futures ETF *			Ultra Bloomberg Crude Oil			Ultra Bloomberg Natural Gas *			Ultra Euro			Ultra Gold *			Ultra Silver
Net asset value, at December 31, 2022	$	29.35		$	30.26		$	1,815.41		$	11.27		$	13.77		$	31.75
Net investment income (loss)		1.05			0.60			7.13			0.38			0.45			0.75
Net realized and unrealized gain (loss)#		21.29			(4.58	)		(1,679.81	)		0.21			1.74			(5.21	)
Change in net asset value from operations		22.34			(3.98	)		(1,672.68	)		0.59			2.19			(4.46	)
Net asset value, at December 31, 2023	$	51.69		$	26.28		$	142.73		$	11.86		$	15.96		$	27.29
Market value per share, at December 31, 2022 †	$	29.34		$	30.31		$	1,778.00		$	11.26		$	13.82		$	32.00
Market value per share, at December 31, 2023 †	$	51.70		$	26.10		$	142.20		$	11.84		$	15.97		$	27.17
Total Return, at net asset value		76.1	%		(13.2	)%		(92.1	)%		5.2	%		15.9	%		(14.1	)%
Total Return, at market value		76.2	%		(13.9	)%		(92.0	)%		5.2	%		15.6	%		(15.1	)%
Ratios to Average Net Assets
Expense ratio^^		1.16	%		0.99	%		1.38	%		0.95	%		0.96	%		0.98	%
Net investment income gain (loss)		2.74	%		2.16	%		2.24	%		3.29	%		3.02	%		2.64	%

*	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 applicable primary listing exchange, which may be later than when the Funds’ net asset value is calculated.

^^	The expense ratio would be 0.95%, 0.95%, 0.95%, 0.95%, 0.95% and 0.95%, respectively, if brokerage commissions and futures account fees were excluded.

For the Year Ended December 31, 2023


Per Share Operating Performance	Ultra VIX Short-Term Futures ETF *			Ultra Yen			UltraShort Bloomberg Crude Oil			UltraShort Bloomberg Natural Gas *
Net asset value, at December 31, 2022	$	1,717.15		$	34.54		$	23.93		$	13.50
Net investment income (loss)		10.56			0.96			0.70			0.77
Net realized and unrealized gain (loss)#		(1,516.84	)		(8.04	)		(3.88	)		33.78
Change in net asset value from operations		(1,506.28	)		(7.08	)		(3.18	)		34.55
Net asset value, at December 31, 2023	$	210.87		$	27.46		$	20.75		$	48.05
Market value per share, at December 31, 2022 †	$	1,715.00		$	34.56		$	23.85		$	13.78
Market value per share, at December 31, 2023 †	$	211.00		$	27.49		$	20.89		$	48.21
Total Return, at net asset value		(87.7	)%		(20.5	)%		(13.3	)%		255.9	%
Total Return, at market value		(87.7	)%		(20.5	)%		(12.4	)%		249.8	%
Ratios to Average Net Assets
Expense ratio^^		1.61	%		0.95	%		1.07	%		1.66	%
Net investment income gain (loss)		1.84	%		3.40	%		3.28	%		2.63	%

*	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 applicable primary listing exchange, which may be later than when the Funds’ net asset value is calculated.

^^	The expense ratio would be 0.95%, 0.95%, 0.95% and 0.95%, respectively, if brokerage commissions and futures account fees were excluded.

For the Year Ended December 31, 2023


Per Share Operating Performance	UltraShort Euro			UltraShort Gold *			UltraShort Silver * *			UltraShort Yen *			VIX Mid- Term Futures ETF			VIX Short- Term Futures ETF *
Net asset value, at December 31, 2022	$	29.46		$	124.40		$	778.22		$	26.84		$	30.41		$	228.01
Net investment income (loss)		0.97			3.34			20.15			1.08			0.71			3.42
Net realized and unrealized gain (loss)#		(1.27	)		(22.18	)		(72.74	)		6.52			(14.38	)		(169.44	)
Change in net asset value from operations		(0.30	)		(18.84	)		(52.59	)		7.60			(13.67	)		(166.02	)
Net asset value, at December 31, 2023	$	29.16		$	105.56		$	725.63		$	34.44		$	16.74		$	61.99
Market value per share, at December 31, 2022 †	$	29.45		$	123.96		$	772.00		$	26.79		$	30.36		$	227.60
Market value per share, at December 31, 2023 †	$	29.15		$	105.48		$	729.60		$	34.47		$	16.75		$	62.04
Total Return, at net asset value		(1.0	)%		(15.2	)%		(6.8	)%		28.3	%		(45.0	)%		(72.8	)%
Total Return, at market value		(1.0	)%		(14.9	)%		(5.5	)%		28.7	%		(44.8	)%		(72.7	)%
Ratios to Average Net Assets
Expense ratio^^		0.95	%		0.98	%		1.08	%		0.95	%		0.99	%		1.07	%
Net investment income gain (loss)		3.28	%		2.95	%		2.61	%		3.33	%		3.12	%		2.93	%

*	See Note 1 of these Notes to Financial Statements.

**	See Note 1 and Note 8 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 applicable primary listing exchange, which may be later than when the Funds’ net asset value is calculated.

^^	The expense ratio would be 0.95%, 0.95%, 0.95%, 0.95%, 0.85% and 0.85%, respectively, if brokerage commissions and futures account fees were excluded.