XML 27 R7.htm IDEA: XBRL DOCUMENT v3.25.4
Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flow from operating activities      
Net income (loss) $ 1,711,915,524 $ (39,371,749) $ (2,481,411,020)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Purchases of short-term U.S. government and agency obligations (13,747,244,846) (6,811,024,357) (29,326,977,643)
Proceeds from sales or maturities of short-term U.S. government and agency obligations 12,029,688,924 7,096,745,754 30,165,855,686
Net amortization and accretion on short-term U.S. government and agency obligations (67,319,416) (68,992,300) (62,959,990)
Net realized (gain) loss on investments (4,917) (73,121) 159,628
Change in unrealized (appreciation) depreciation on investments (338,770,097) 30,409,365 97,746,933
Decrease (Increase) in receivable on open futures contracts (26,594,620) (6,024,206) 45,696,024
Decrease (Increase) in interest receivable 21,597 859,269 (1,565,988)
Increase (Decrease) in payable to Sponsor 1,701,036 (128,233) (555,887)
Increase (Decrease) in brokerage commissions and futures account fees payable 28,563 (72,217) (33,668)
Increase (Decrease) in payable on open futures contracts 190,278,701 6,471,060 24,279,697
Net cash provided by (used in) operating activities (246,299,551) 208,799,265 (1,539,766,228)
Cash flow from financing activities      
Proceeds from addition of shares 13,918,586,107 8,554,408,656 11,046,019,082
Payment on shares redeemed (12,998,981,621) (8,783,469,990) (9,184,699,519)
Net cash provided by (used in) financing activities 919,604,486 (229,061,334) 1,861,319,563
Net increase (decrease) in cash 673,304,935 (20,262,069) 321,553,335
Cash, beginning of period 2,577,444,038 2,597,706,107 2,276,152,772
Cash, end of period 3,250,748,973 2,577,444,038 2,597,706,107
ProShares Short VIX Short-Term Futures ETF [Member]      
Cash flow from operating activities      
Net income (loss) 62,277,962 37,993,782 169,244,562
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Purchases of short-term U.S. government and agency obligations (686,322,457) (713,284,705) (756,847,632)
Proceeds from sales or maturities of short-term U.S. government and agency obligations 654,645,038 805,017,669 796,473,442
Net amortization and accretion on short-term U.S. government and agency obligations (3,288,979) (7,254,681) (4,755,757)
Net realized (gain) loss on investments (605) (17,669) 21,847
Change in unrealized (appreciation) depreciation on investments (2,920) 11,853 5,434
Decrease (Increase) in receivable on open futures contracts (1,102,738) 10,407,604 28,912,469
Decrease (Increase) in interest receivable 98,211 18,478 19,000
Increase (Decrease) in payable to Sponsor (43,605) (20,904) (93,604)
Increase (Decrease) in brokerage commissions and futures account fees payable (502) (2,669) (12,005)
Increase (Decrease) in payable on open futures contracts (160,781) 564,219 447,611
Net cash provided by (used in) operating activities 26,098,624 133,432,977 233,415,367
Cash flow from financing activities      
Proceeds from addition of shares 731,347,948 961,069,086 282,356,336
Payment on shares redeemed (817,365,106) (1,015,679,310) (514,347,675)
Net cash provided by (used in) financing activities (86,017,158) (54,610,224) (231,991,339)
Net increase (decrease) in cash (59,918,534) 78,822,753 1,424,028
Cash, beginning of period 241,154,040 162,331,287 160,907,259
Cash, end of period 181,235,506 241,154,040 162,331,287
ProShares Ultra Bloomberg Crude Oil [Member]      
Cash flow from operating activities      
Net income (loss) (84,149,627) 100,472,850 30,248,224
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Purchases of short-term U.S. government and agency obligations (1,347,340,760) (1,578,595,349) (9,464,242,100)
Proceeds from sales or maturities of short-term U.S. government and agency obligations 1,304,557,586 1,729,650,742 9,559,522,567
Net amortization and accretion on short-term U.S. government and agency obligations (7,036,843) (17,331,464) (15,360,627)
Net realized (gain) loss on investments (509) (13,170) 58,817
Change in unrealized (appreciation) depreciation on investments 49,363,268 (20,245,993) 56,214,051
Decrease (Increase) in receivable on open futures contracts 1,554,937 (2,157,183) 8,466,027
Decrease (Increase) in interest receivable 324,161 (124,209) 50,532
Increase (Decrease) in payable to Sponsor (118,718) (101,782) (128,301)
Increase (Decrease) in brokerage commissions and futures account fees payable 0 (5,682) (1,472)
Increase (Decrease) in payable on open futures contracts 1,356,251 (2,029,522) 2,099,944
Net cash provided by (used in) operating activities (81,490,254) 209,519,238 176,927,662
Cash flow from financing activities      
Proceeds from addition of shares 694,761,805 893,699,410 1,168,977,332
Payment on shares redeemed (750,847,443) (1,115,542,140) (1,424,326,429)
Net cash provided by (used in) financing activities (56,085,638) (221,842,730) (255,349,097)
Net increase (decrease) in cash (137,575,892) (12,323,492) (78,421,435)
Cash, beginning of period 385,855,334 398,178,826 476,600,261
Cash, end of period 248,279,442 385,855,334 398,178,826
ProShares Ultra Bloomberg Natural Gas [Member]      
Cash flow from operating activities      
Net income (loss) (80,312,263) (327,500,511) (1,704,893,170)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Purchases of short-term U.S. government and agency obligations (1,301,909,040) (738,233,545) (11,178,803,468)
Proceeds from sales or maturities of short-term U.S. government and agency obligations 1,174,473,294 709,956,736 11,391,373,123
Net amortization and accretion on short-term U.S. government and agency obligations (7,057,306) (7,000,295) (13,804,974)
Net realized (gain) loss on investments 38 (1,653) (892)
Change in unrealized (appreciation) depreciation on investments (28,520) (13,626) 37,252
Decrease (Increase) in interest receivable 244,011 1,100,379 (1,271,721)
Increase (Decrease) in payable to Sponsor 16,530 (224,359) 175,151
Increase (Decrease) in brokerage commissions and futures account fees payable 1,191 (38,680) 17,107
Increase (Decrease) in payable on open futures contracts 29,905,166 16,214,239 18,676,841
Net cash provided by (used in) operating activities (184,666,899) (345,741,315) (1,488,494,751)
Cash flow from financing activities      
Proceeds from addition of shares 2,830,604,169 2,171,160,083 4,891,950,936
Payment on shares redeemed (2,628,614,445) (2,203,521,960) (3,030,058,288)
Net cash provided by (used in) financing activities 201,989,724 (32,361,877) 1,861,892,648
Net increase (decrease) in cash 17,322,825 (378,103,192) 373,397,897
Cash, beginning of period 323,011,189 701,114,381 327,716,484
Cash, end of period 340,334,014 323,011,189 701,114,381
ProShares Ultra Euro [Member]      
Cash flow from operating activities      
Net income (loss) 1,257,417 (836,850) 451,600
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Change in unrealized (appreciation) depreciation on investments (229,818) 474,077 108,707
Decrease (Increase) in interest receivable 3,928 7,746 13,202
Increase (Decrease) in payable to Sponsor 20 (876) (5,221)
Net cash provided by (used in) operating activities 1,031,547 (355,903) 568,288
Cash flow from financing activities      
Proceeds from addition of shares 2,513,699 2,873,054 3,458,223
Payment on shares redeemed (3,596,416) (3,399,063) (7,500,470)
Net cash provided by (used in) financing activities (1,082,717) (526,009) (4,042,247)
Net increase (decrease) in cash (51,170) (881,912) (3,473,959)
Cash, beginning of period 5,903,547 6,785,459 10,259,418
Cash, end of period 5,852,377 5,903,547 6,785,459
ProShares Ultra Gold [Member]      
Cash flow from operating activities      
Net income (loss) 506,041,596 84,713,356 24,348,932
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Purchases of short-term U.S. government and agency obligations (3,067,564,985) (816,791,412) (995,083,303)
Proceeds from sales or maturities of short-term U.S. government and agency obligations 2,609,111,536 810,003,011 1,069,750,481
Net amortization and accretion on short-term U.S. government and agency obligations (15,354,452) (8,505,611) (5,091,392)
Net realized (gain) loss on investments (452) (3,011) 28,324
Change in unrealized (appreciation) depreciation on investments (31,108,768) 5,417,717 3,429,658
Decrease (Increase) in receivable on open futures contracts 1,952,335 (1,952,335) 8,169
Decrease (Increase) in interest receivable (290,844) (94,851) (150,141)
Increase (Decrease) in payable to Sponsor 576,467 89,620 8,485
Increase (Decrease) in payable on open futures contracts 14,210,474 (564,042) 564,042
Net cash provided by (used in) operating activities 17,572,907 72,312,442 97,813,255
Cash flow from financing activities      
Proceeds from addition of shares 952,221,420 190,246,217 60,924,667
Payment on shares redeemed (727,695,418) (176,752,264) (67,295,712)
Net cash provided by (used in) financing activities 224,526,002 13,493,953 (6,371,045)
Net increase (decrease) in cash 242,098,909 85,806,395 91,442,210
Cash, beginning of period 215,158,372 129,351,977 37,909,767
Cash, end of period 457,257,281 215,158,372 129,351,977
ProShares Ultra Silver [Member]      
Cash flow from operating activities      
Net income (loss) 1,708,010,262 105,272,112 (41,791,206)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Purchases of short-term U.S. government and agency obligations (4,301,566,794) (1,660,687,822) (2,963,529,540)
Proceeds from sales or maturities of short-term U.S. government and agency obligations 3,479,105,968 1,666,998,259 3,087,588,221
Net amortization and accretion on short-term U.S. government and agency obligations (19,994,488) (16,705,847) (9,743,268)
Net realized (gain) loss on investments (355) (4,772) 46,857
Change in unrealized (appreciation) depreciation on investments (366,598,096) 49,678,519 42,070,772
Decrease (Increase) in interest receivable (692,145) (252,509) (297,911)
Increase (Decrease) in payable to Sponsor 1,029,310 187,577 (24,614)
Increase (Decrease) in payable on open futures contracts 140,069,333 (1,245,808) 1,555,056
Net cash provided by (used in) operating activities 639,362,995 143,239,709 115,874,367
Cash flow from financing activities      
Proceeds from addition of shares 1,284,043,682 565,922,996 184,440,594
Payment on shares redeemed (1,426,004,201) (496,529,360) (171,133,103)
Net cash provided by (used in) financing activities (141,960,519) 69,393,636 13,307,491
Net increase (decrease) in cash 497,402,476 212,633,345 129,181,858
Cash, beginning of period 491,827,274 279,193,929 150,012,071
Cash, end of period 989,229,750 491,827,274 279,193,929
ProShares Ultra VIX Short-Term Futures ETF [Member]      
Cash flow from operating activities      
Net income (loss) (430,147,200) (85,810,505) (926,248,749)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Purchases of short-term U.S. government and agency obligations (919,669,172) (358,565,760) (1,592,777,850)
Proceeds from sales or maturities of short-term U.S. government and agency obligations 848,850,699 336,137,249 1,630,711,623
Net amortization and accretion on short-term U.S. government and agency obligations (3,998,874) (2,488,045) (3,191,063)
Net realized (gain) loss on investments (5,183) (14,511) (13,721)
Change in unrealized (appreciation) depreciation on investments (15,161) (6,808) 3,383
Decrease (Increase) in receivable on open futures contracts (8,865,784) 1,556,948 11,099,936
Decrease (Increase) in interest receivable 169,805 120,957 322,254
Increase (Decrease) in payable to Sponsor 75,367 (28,635) (266,796)
Increase (Decrease) in brokerage commissions and futures account fees payable 14,405 (11,472) (22,684)
Increase (Decrease) in payable on open futures contracts 6,176,125 613,972 (904,685)
Net cash provided by (used in) operating activities (507,414,973) (108,496,610) (881,288,352)
Cash flow from financing activities      
Proceeds from addition of shares 2,837,270,589 1,359,968,222 1,481,923,040
Payment on shares redeemed (2,287,584,826) (1,338,261,400) (846,436,910)
Net cash provided by (used in) financing activities 549,685,763 21,706,822 635,486,130
Net increase (decrease) in cash 42,270,790 (86,789,788) (245,802,222)
Cash, beginning of period 250,621,829 337,411,617 583,213,839
Cash, end of period 292,892,619 250,621,829 337,411,617
ProShares Ultra Yen [Member]      
Cash flow from operating activities      
Net income (loss) (1,926,188) (10,847,938) (1,581,276)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Change in unrealized (appreciation) depreciation on investments (3,032,649) 5,734,582 (534,736)
Decrease (Increase) in interest receivable 21,545 (45,451) (65,337)
Increase (Decrease) in payable to Sponsor 1,409 14,554 11,685
Net cash provided by (used in) operating activities (4,935,883) (5,144,253) (2,169,664)
Cash flow from financing activities      
Proceeds from addition of shares 31,666,878 48,124,281 27,033,889
Payment on shares redeemed (25,580,986) (24,349,634) (7,688,472)
Net cash provided by (used in) financing activities 6,085,892 23,774,647 19,345,417
Net increase (decrease) in cash 1,150,009 18,630,394 17,175,753
Cash, beginning of period 48,608,105 29,977,711 12,801,958
Cash, end of period 49,758,114 48,608,105 29,977,711
ProShares UltraShort Bloomberg Crude Oil [Member]      
Cash flow from operating activities      
Net income (loss) 76,874,919 (13,805,318) 31,016,517
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Purchases of short-term U.S. government and agency obligations (407,880,496) (326,289,323) (975,397,647)
Proceeds from sales or maturities of short-term U.S. government and agency obligations 364,917,637 379,998,987 1,019,874,276
Net amortization and accretion on short-term U.S. government and agency obligations (1,943,697) (4,028,783) (4,754,914)
Net realized (gain) loss on investments 483 (6,958) 11,670
Change in unrealized (appreciation) depreciation on investments (7,526) 9,962 9,665
Decrease (Increase) in receivable on open futures contracts (1,186,923) 654,887 949,960
Decrease (Increase) in interest receivable 217,215 (56,214) 99,246
Increase (Decrease) in payable to Sponsor (19,994) (42,245) (73,244)
Increase (Decrease) in brokerage commissions and futures account fees payable 0 (3,509) (625)
Increase (Decrease) in payable on open futures contracts (2,233,815) 2,372,844 (7,102,680)
Net cash provided by (used in) operating activities 28,737,803 38,804,330 64,632,224
Cash flow from financing activities      
Proceeds from addition of shares 480,945,379 329,168,403 695,942,149
Payment on shares redeemed (587,946,834) (388,811,790) (758,811,716)
Net cash provided by (used in) financing activities (107,001,455) (59,643,387) (62,869,567)
Net increase (decrease) in cash (78,263,652) (20,839,057) 1,762,657
Cash, beginning of period 120,735,111 141,574,168 139,811,511
Cash, end of period 42,471,459 120,735,111 141,574,168
ProShares UltraShort Bloomberg Natural Gas [Member]      
Cash flow from operating activities      
Net income (loss) 128,877,066 77,154,043 220,732,798
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Purchases of short-term U.S. government and agency obligations (1,163,298,393) (262,384,408) (297,847,108)
Proceeds from sales or maturities of short-term U.S. government and agency obligations 1,099,301,945 264,472,679 360,999,575
Net amortization and accretion on short-term U.S. government and agency obligations (5,814,107) (2,092,232) (1,678,902)
Net realized (gain) loss on investments 2,688 3,961 (3,839)
Change in unrealized (appreciation) depreciation on investments (13,226) 0 12,800
Decrease (Increase) in receivable on open futures contracts 3,266,861 (14,759,331) (3,766,954)
Decrease (Increase) in interest receivable 204,684 42,107 (154,043)
Increase (Decrease) in payable to Sponsor 34,487 7,100 (23,789)
Increase (Decrease) in brokerage commissions and futures account fees payable 2,846 (7,295) 2,964
Increase (Decrease) in payable on open futures contracts 1,060,496 (9,596,045) 9,313,683
Net cash provided by (used in) operating activities 63,625,347 52,840,579 287,587,185
Cash flow from financing activities      
Proceeds from addition of shares 2,239,944,880 1,366,578,010 1,528,803,667
Payment on shares redeemed (2,488,512,260) (1,296,699,897) (1,757,659,467)
Net cash provided by (used in) financing activities (248,567,380) 69,878,113 (228,855,800)
Net increase (decrease) in cash (184,942,033) 122,718,692 58,731,385
Cash, beginning of period 258,891,257 136,172,565 77,441,180
Cash, end of period 73,949,224 258,891,257 136,172,565
ProShares UltraShort Euro [Member]      
Cash flow from operating activities      
Net income (loss) (7,064,751) 6,810,883 (270,608)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Purchases of short-term U.S. government and agency obligations 0 0 (54,925,175)
Proceeds from sales or maturities of short-term U.S. government and agency obligations 119 4,641 95,000,000
Net amortization and accretion on short-term U.S. government and agency obligations 0 0 (83,003)
Net realized (gain) loss on investments (119) (4,641) 0
Change in unrealized (appreciation) depreciation on investments 1,549,424 (3,005,829) (607,675)
Decrease (Increase) in interest receivable 34,194 29,388 (49,529)
Increase (Decrease) in payable to Sponsor (3,913) (715) (30,003)
Net cash provided by (used in) operating activities (5,485,046) 3,833,727 39,034,007
Cash flow from financing activities      
Proceeds from addition of shares 17,664,628 8,047,610 9,033,520
Payment on shares redeemed (16,993,946) (12,333,369) (44,508,541)
Net cash provided by (used in) financing activities 670,682 (4,285,759) (35,475,021)
Net increase (decrease) in cash (4,814,364) (452,032) 3,558,986
Cash, beginning of period 40,638,310 41,090,342 37,531,356
Cash, end of period 35,823,946 40,638,310 41,090,342
ProShares UltraShort Gold [Member]      
Cash flow from operating activities      
Net income (loss) (26,188,954) (5,132,113) (1,396,340)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Change in unrealized (appreciation) depreciation on investments 2,709,777 (341,402) (393,136)
Decrease (Increase) in receivable on open futures contracts (155,440) 17,324 (17,324)
Decrease (Increase) in interest receivable (126,036) (20,319) 634
Increase (Decrease) in payable to Sponsor 43,487 6,286 (3,146)
Increase (Decrease) in payable on open futures contracts (45,074) 82,309 (700)
Net cash provided by (used in) operating activities (23,762,240) (5,387,915) (1,810,012)
Cash flow from financing activities      
Proceeds from addition of shares 525,135,723 38,619,814 22,162,736
Payment on shares redeemed (434,095,983) (28,659,052) (24,426,654)
Net cash provided by (used in) financing activities 91,039,740 9,960,762 (2,263,918)
Net increase (decrease) in cash 67,277,500 4,572,847 (4,073,930)
Cash, beginning of period 16,519,330 11,946,483 16,020,413
Cash, end of period 83,796,830 16,519,330 11,946,483
ProShares UltraShort Silver [Member]      
Cash flow from operating activities      
Net income (loss) (58,999,091) (4,340,894) 17,766,537
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Purchases of short-term U.S. government and agency obligations 0 0 (39,876,608)
Proceeds from sales or maturities of short-term U.S. government and agency obligations 0 0 39,937,156
Net amortization and accretion on short-term U.S. government and agency obligations 0 0 (61,454)
Net realized (gain) loss on investments 0 0 906
Change in unrealized (appreciation) depreciation on investments 7,274,165 (3,768,192) (908,449)
Decrease (Increase) in receivable on open futures contracts (19,161,759) 321,129 (270,054)
Decrease (Increase) in interest receivable (157,680) 123,995 (113,319)
Increase (Decrease) in payable to Sponsor 55,482 (24,252) 22,759
Increase (Decrease) in payable on open futures contracts (9,092) 9,092 0
Net cash provided by (used in) operating activities (70,997,975) (7,679,122) 16,497,474
Cash flow from financing activities      
Proceeds from addition of shares 486,047,484 168,519,186 210,064,282
Payment on shares redeemed (206,135,014) (204,668,334) (194,548,168)
Net cash provided by (used in) financing activities 279,912,470 (36,149,148) 15,516,114
Net increase (decrease) in cash 208,914,495 (43,828,270) 32,013,588
Cash, beginning of period 20,768,601 64,596,871 32,583,283
Cash, end of period 229,683,096 20,768,601 64,596,871
ProShares UltraShort Yen [Member]      
Cash flow from operating activities      
Net income (loss) 3,107,239 9,462,287 5,511,590
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Proceeds from sales or maturities of short-term U.S. government and agency obligations 91 3,541 23,000,000
Net amortization and accretion on short-term U.S. government and agency obligations 0 0 (4,702)
Net realized (gain) loss on investments (91) (3,541) 0
Change in unrealized (appreciation) depreciation on investments 1,384,124 (3,540,284) (1,712,747)
Decrease (Increase) in interest receivable (21,149) 23,487 (64,213)
Increase (Decrease) in payable to Sponsor 9,662 (719) (8,957)
Net cash provided by (used in) operating activities 4,479,876 5,944,771 26,720,971
Cash flow from financing activities      
Proceeds from addition of shares 46,962,430 37,504,826 33,387,001
Payment on shares redeemed (40,633,548) (44,896,828) (38,969,772)
Net cash provided by (used in) financing activities 6,328,882 (7,392,002) (5,582,771)
Net increase (decrease) in cash 10,808,758 (1,447,231) 21,138,200
Cash, beginning of period 23,795,096 25,242,327 4,104,127
Cash, end of period 34,603,854 23,795,096 25,242,327
ProShares VIX Mid-Term Futures ETF [Member]      
Cash flow from operating activities      
Net income (loss) 1,706,196 (8,129,807) (35,837,029)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Purchases of short-term U.S. government and agency obligations 0 (49,330,764) (294,811,992)
Proceeds from sales or maturities of short-term U.S. government and agency obligations 84 49,719,851 345,000,000
Net amortization and accretion on short-term U.S. government and agency obligations 0 (385,538) (311,311)
Net realized (gain) loss on investments (84) (3,549) 0
Change in unrealized (appreciation) depreciation on investments 0 0 5,651
Decrease (Increase) in receivable on open futures contracts (169,245) 137,388 4,849
Decrease (Increase) in interest receivable (17,746) 42,540 (53,638)
Increase (Decrease) in payable to Sponsor 9,546 (4,507) (31,731)
Increase (Decrease) in brokerage commissions and futures account fees payable 500 (220) (1,812)
Increase (Decrease) in payable on open futures contracts (50,382) 50,382 0
Net cash provided by (used in) operating activities 1,478,869 (7,904,224) 13,962,987
Cash flow from financing activities      
Proceeds from addition of shares 53,986,599 147,773,279 43,215,317
Payment on shares redeemed (39,036,337) (149,398,405) (53,527,104)
Net cash provided by (used in) financing activities 14,950,262 (1,625,126) (10,311,787)
Net increase (decrease) in cash 16,429,131 (9,529,350) 3,651,200
Cash, beginning of period 28,081,839 37,611,189 33,959,989
Cash, end of period 44,510,970 28,081,839 37,611,189
ProShares VIX Short-Term Futures ETF [Member]      
Cash flow from operating activities      
Net income (loss) (87,449,059) (4,847,126) (268,713,402)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Purchases of short-term U.S. government and agency obligations (551,692,749) (306,861,269) (712,835,220)
Proceeds from sales or maturities of short-term U.S. government and agency obligations 494,724,927 344,782,389 746,625,222
Net amortization and accretion on short-term U.S. government and agency obligations (2,830,670) (3,199,804) (4,118,623)
Net realized (gain) loss on investments (728) (3,607) 9,659
Change in unrealized (appreciation) depreciation on investments (14,171) 4,789 6,303
Decrease (Increase) in receivable on open futures contracts (2,726,864) (250,637) 308,946
Decrease (Increase) in interest receivable 9,443 (56,255) 148,996
Increase (Decrease) in payable to Sponsor 35,499 15,624 (84,561)
Increase (Decrease) in brokerage commissions and futures account fees payable 10,123 (2,690) (15,141)
Increase (Decrease) in payable on open futures contracts 0 (580) (369,415)
Net cash provided by (used in) operating activities (149,934,249) 29,580,834 (239,037,236)
Cash flow from financing activities      
Proceeds from addition of shares 703,468,794 265,134,179 402,345,393
Payment on shares redeemed (518,338,858) (283,967,184) (243,461,038)
Net cash provided by (used in) financing activities 185,129,936 (18,833,005) 158,884,355
Net increase (decrease) in cash 35,195,687 10,747,829 (80,152,881)
Cash, beginning of period 105,874,804 95,126,975 175,279,856
Cash, end of period $ 141,070,491 $ 105,874,804 $ 95,126,975