v3.25.2
Investments (Tables)
 6 Months Ended
Jun. 30, 2025
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 June 30, 2025
 
           
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
  
 		       $ 10,392,342
*
 		      $ —   
     ProShares Ultra VIX
Short-Term Futures ETF		  
 		         —           55,376,766
*
 
     ProShares VIX Mid-
Term Futures ETF
 		         165,078
*
 		        353,745
*
 
     ProShares VIX Short-
Term Futures ETF
 		         —           10,141,713
*
 
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		  
 		         7,306,161
*
 		        —   
     ProShares Ultra
Bloomberg Natural Gas		  
 		         —           29,767,704
*
 
     ProShares Ultra Gold           —           8,181,646
*
 
     ProShares Ultra Silver           —           15,609,321
*
 
     ProShares UltraShort
Bloomberg Crude Oil		  
 		         15,855,988
*
 		        —   
     ProShares UltraShort
Bloomberg Natural Gas		  
 		         40,226,449
*
 		        —   
     ProShares UltraShort
Gold		  
 		         1,870,449
*
 		        —   
     ProShares UltraShort
Silver		  
 		         905,332
*
 		        —   
Foreign Exchange Contracts
        

 		 Unrealized
appreciation on
foreign currency
forward contracts		  
 
 
 		       

 		 Unrealized
depreciation on
foreign currency
forward contracts		  
 
 
 		   
     ProShares Ultra Euro           446,814          3,294  
     ProShares Ultra Yen           764,251          27,879  
     ProShares UltraShort
Euro		  
 		         110,889          1,837,188  
     ProShares UltraShort
Yen		  
 		         —           287,001  
        
 
 
       
 
 
  
     
 
Combined Trust:
 
   
$
78,043,753
*
 
     
$
121,586,257
*
 
 
*
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, 2024
 
           
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
  
 		       $ 482,967
*
 		      $ 3,491,718
*
 
     ProShares Ultra VIX
Short-Term Futures ETF		  
 		         15,626,836
*
 		        1,650,844
*
 
     ProShares VIX Mid-
Term Futures ETF
 		         240,639
*
 		        218,373
*
 
     ProShares VIX Short-
Term Futures ETF
 		         5,943,933
*
 		        1,550,606
*
 
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		  
 		         49,079,695
*
 		        —   
     ProShares Ultra
Bloomberg Natural Gas		  
 		         97,239,201
*
 		        —   
     ProShares Ultra Gold           —           2,771,540
*
 
     ProShares Ultra Silver           —           81,422,443
*
 
     ProShares UltraShort
Bloomberg Crude Oil		  
 		         1,888,681
*
 		        3,544,073
*
 
     ProShares UltraShort
Bloomberg Natural Gas		  
 		         —           26,130,504
*
 
     ProShares UltraShort
Gold		  
 		         262,637
*
 		        —   
     ProShares UltraShort
Silver		  
 		         3,465,933
*
 		        —   
Foreign Exchange Contracts
        

 		 Unrealized
appreciation on
foreign currency
forward contracts		  
 
 
 		       

 		 Unrealized
depreciation on
foreign currency
forward contracts		  
 
 
 		   
     ProShares Ultra Euro           2,312          169,440  
     ProShares Ultra Yen           146,194          4,361,491  
     ProShares UltraShort
Euro		  
 		         1,189,827          32,777  
     ProShares UltraShort
Yen		  
 		         2,283,588          55,229  
        
 
 
       
 
 
  
     
 
Combined Trust:
 
   
$
177,852,443
*
 
     
$
125,399,038
*
 
 
*
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 three months ended June 30, 2025
 
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
    $ 2,005     $ 13,636,368  
     
ProShares Ultra VIX Short-Term Futures ETF
      56,045,179       (88,993,838 )
     
ProShares VIX Mid-Term Futures ETF
      4,726,990       (1,835,417 )
     
ProShares VIX Short-Term Futures ETF
      44,564,343       (21,523,129 )
Commodities 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 Ultra Bloomberg Crude Oil
      (28,592,206 )      (41,338,039 ) 
     
ProShares Ultra Bloomberg Natural Gas
      (12,342,109 )      (84,894,683 ) 
     
ProShares Ultra Gold
      86,158,039       (61,456,710 ) 
     
ProShares Ultra Silver
      99,198,843       (73,501,501 ) 
     
ProShares UltraShort Bloomberg Crude Oil
      32,210,113       14,026,553  
     
ProShares UltraShort Bloomberg Natural Gas
      124,600,984       80,953,188  
     
ProShares UltraShort Gold
      5,846,099       5,933,528  
     
ProShares UltraShort Silver
      (3,327,232 )      2,491,447  
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
      616,633       415,771  
     
ProShares Ultra Yen
      1,428,203       2,283,730  
     
ProShares UltraShort Euro
      (3,936,993 )      (1,538,631 ) 
     
ProShares UltraShort Yen
      (1,138,324 )      (710,709 ) 
        
 
 
    
 
 
  
     
Combined Trust
   
$
406,060,567
 
  
$
(256,052,072
)
The Effect of Derivative Instruments on the Statement of Operations
For the six months ended June 30, 2025
 
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
    $ (17,634,848 )    $ 13,401,093  
     
ProShares Ultra VIX Short-Term Futures ETF
      155,966,636       (69,352,758 )
     
ProShares VIX Mid-Term Futures ETF
      5,434,182       (210,933 )
     
ProShares VIX Short-Term Futures ETF
      76,773,606       (14,535,040 )
Commodities 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 Ultra Bloomberg Crude Oil
      (13,075,345 )      (41,773,534 ) 
     
ProShares Ultra Bloomberg Natural Gas
      210,263,119       (127,006,905 ) 
     
ProShares Ultra Gold
      144,586,625       (5,410,106 ) 
     
ProShares Ultra Silver
      153,909,630       65,813,122  
     
ProShares UltraShort Bloomberg Crude Oil
      41,144,012       17,511,380  
     
ProShares UltraShort Bloomberg Natural Gas
      (97,226,728 )      66,356,953  
     
ProShares UltraShort Gold
      2,403,495       1,607,812  
     
ProShares UltraShort Silver
      (6,436,218 )      (2,560,601 ) 
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
      777,150       610,648  
     
ProShares Ultra Yen
      3,070,845       4,951,669  
     
ProShares UltraShort Euro
      (5,567,946 )      (2,883,349 ) 
     
ProShares UltraShort Yen
      (1,297,018 )      (2,515,360 ) 
        
 
 
    
 
 
  
     
Combined Trust:
   
$
653,091,197
 
  
$
(95,995,909
)
The Effect of Derivative Instruments on the Statement of Operations
For the three months ended June 30, 2024
 
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
    $ 26,761,918     $ (4,177,838 ) 
     
ProShares Ultra VIX Short-Term Futures ETF
      (57,413,186 )      11,693,863  
     
ProShares VIX Mid-Term Futures ETF
      (8,949,418 )      1,092,860  
     
ProShares VIX Short-Term Futures ETF
      (27,512,354 )      4,018,755  
Commodities 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 Ultra Bloomberg Crude Oil
      6,956,921       (748,073 ) 
     
ProShares Ultra Bloomberg Natural Gas
      211,772,181       (60,263,391 ) 
     
ProShares Ultra Gold
      31,567,821       (17,232,531 ) 
     
ProShares Ultra Silver
      220,680,441       (87,290,676 ) 
     
ProShares UltraShort Bloomberg Crude Oil
      (143,424 )      (1,560,618 ) 
     
ProShares UltraShort Bloomberg Natural Gas
      (44,563,292 )      20,547,016  
     
ProShares UltraShort Gold
      (2,516,474 )      1,264,436  
     
ProShares UltraShort Silver
      (16,070,138 )      4,902,824  
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
      (219,350 )      62,167  
     
ProShares Ultra Yen
      (5,365,623 )      (842,412 ) 
     
ProShares UltraShort Euro
      900,760       (199,005 ) 
     
ProShares UltraShort Yen
      4,417,569       1,529,867  
        
 
 
    
 
 
  
     
Combined Trust
   
$
340,304,352
 
  
$
(127,202,756
) 
The Effect of Derivative Instruments on the Statement of Operations
For the six months ended June 30, 2024
 
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
    $ 55,258,866     $ (8,805,425 ) 
     
ProShares Ultra VIX Short-Term Futures ETF
      (148,416,415 )      24,978,991  
     
ProShares VIX Mid-Term Futures ETF
      (15,057,887 )      3,882,651  
     
ProShares VIX Short-Term Futures ETF
      (59,271,318 )      7,003,274  
Commodities 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 Ultra Bloomberg Crude Oil
      100,075,521       54,390,334  
     
ProShares Ultra Bloomberg Natural Gas
      (30,408,733 )      (196,642,739 ) 
     
ProShares Ultra Gold
      50,039,092       (14,495,217 ) 
     
ProShares Ultra Silver
      216,209,729       (65,650,154 ) 
     
ProShares UltraShort Bloomberg Crude Oil
      (12,659,025 )      (35,992,048 ) 
     
ProShares UltraShort Bloomberg Natural Gas
      91,065       44,377,650  
     
ProShares UltraShort Gold
      (3,914,287 )      919,857  
     
ProShares UltraShort Silver
      (10,290,118 )      3,484,222  
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
      (74,776 )      (447,347 ) 
     
ProShares Ultra Yen
      (7,397,198 )      (4,421,343 ) 
     
ProShares UltraShort Euro
      (43,101 )      2,768,728  
     
ProShares UltraShort Yen
      6,122,840       4,468,019  
        
 
 
    
 
 
  
     
Combined Trust:
   
$
140,264,255
 
  
$
(180,180,547
) 
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 June 30, 2025.
Fair Values of Derivative Instruments as of June 30, 2025
  
    
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
    $ 4,023,623      $  —       $ 4,023,623      $ —       $  —       $ —   
ProShares Ultra Euro
                  
Foreign currency forward contracts
      446,814        —         446,814        3,294        —         3,294  
ProShares Ultra Gold
                  
Swap agreements
      —         —         —         4,726,020        —         4,726,020  
ProShares Ultra Silver
                  
Swap agreements
      —         —         —         6,471,374        —         6,471,374  
ProShares Ultra Yen
                  
Foreign currency forward contracts
      764,251        —         764,251        27,879        —         27,879  
ProShares UltraShort Euro
                  
Foreign currency forward contracts
      110,889        —         110,889        1,837,188        —         1,837,188  
ProShares UltraShort Gold
                  
Swap agreements
      1,407,997        —         1,407,997        —         —         —   
ProShares UltraShort Silver
                  
Swap agreements
      287,652        —         287,652        —         —         —   
ProShares UltraShort Yen
                  
Foreign currency forward contracts
      —         —         —         287,001        —         287,001  
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, 2024:
 
Fair Values of Derivative Instruments as of December 31, 2024
  
    
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
    $ 38,215,610      $  —       $ 38,215,610      $ —       $  —       $ —   
ProShares Ultra Euro
                  
Foreign currency forward contracts
      2,312        —         2,312        169,440        —         169,440  
ProShares Ultra Gold
                  
Swap agreements
      —         —         —         2,348,132        —         2,348,132  
ProShares Ultra Silver
                  
Swap agreements
      —         —         —         52,518,908        —         52,518,908  
ProShares Ultra Yen
                  
Foreign currency forward contracts
      146,194        —         146,194        4,361,491        —         4,361,491  
ProShares UltraShort Euro
                  
Foreign currency forward contracts
      1,189,827        —         1,189,827        32,777        —         32,777  
ProShares UltraShort Gold
                  
Swap agreements
      141,581        —         141,581        —         —         —   
ProShares UltraShort Silver
                  
Swap agreements
      2,954,018        —         2,954,018        —         —         —   
ProShares UltraShort Yen
                  
Foreign currency forward contracts
      2,283,588        —         2,283,588        55,229        —         55,229  
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 June 30, 2025. 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 June 30, 2025
  
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.
    $ 359,481     $ (359,481 )    $  —       $ —   
Goldman Sachs International
      1,559,931       (1,559,931 )      —         —   
Morgan Stanley & Co. International PLC
      473,886       (473,886 )      —         —   
Societe Generale
      1,194,901       (1,194,901 )      —         —   
UBS AG
      435,424       (318,137 )      —         117,287  
ProShares Ultra Euro
          
Goldman Sachs International
      224,049       —        —         224,049  
UBS AG
      219,471       —        —         219,471  
ProShares Ultra Gold
          
Citibank, N.A.
      (2,029,284 )      —        2,029,284        —   
Goldman Sachs International
      (963,847 )      —        963,847        —   
UBS AG
      (1,732,889 )      —        1,732,889        —   
ProShares Ultra Silver
          
Citibank, N.A.
      (2,876,199 )      —        2,876,199        —   
Goldman Sachs International
      (254,172 )      254,172       —         —   
Morgan Stanley & Co. International PLC
      (1,724,461 )      1,724,460       1        —   
UBS AG
      (1,616,542 )      1,616,542       —         —   
ProShares Ultra Yen
          
Goldman Sachs International
      374,599       —        —         374,599  
UBS AG
      361,773       —        —         361,773  
ProShares UltraShort Euro
          
Goldman Sachs International
      (912,686 )      —        912,686        —   
UBS AG
      (813,613 )      —        813,613        —   
ProShares UltraShort Gold
          
Citibank, N.A.
      1,184,233       (1,184,233 )      —         —   
Goldman Sachs International
      88,017       —        —         88,017  
UBS AG
      135,747       —        —         135,747  
ProShares UltraShort Silver
          
Citibank, N.A.
      150,872       —        —         150,872  
Goldman Sachs International
      107,740       —        —         107,740  
Morgan Stanley & Co. International PLC
      14,799       —        —         14,799  
UBS AG
      14,241       —        —         14,241  
ProShares UltraShort Yen
          
Goldman Sachs International
      (136,883 )      —        136,883        —   
UBS AG
      (150,118 )      —        150,118        —   
Asset (Liability) amounts shown in the table below represent amounts owed to (by) the Funds for the derivative-related investments at December 31, 2024. 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, 2024
  
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.
    $ 7,607,910     $ (6,395,678 )    $ —       $ 1,212,232  
Goldman Sachs International
      12,024,863       (10,093,437 )      —         1,931,426  
Morgan Stanley & Co. International PLC
      3,652,992       (3,010,925 )      —         642,067  
Societe Generale
      9,139,394       (7,689,268 )      —         1,450,126  
UBS AG
      5,790,451       (4,212,271 )      —         1,578,180  
ProShares Ultra Euro
          
Goldman Sachs International
      (84,115 )      —        84,115        —   
UBS AG
      (83,013 )      —        83,013        —   
ProShares Ultra Gold
          
Citibank, N.A.
      (1,008,254 )      1,008,254       —         —   
Goldman Sachs International
      (478,889 )      478,889       —         —   
UBS AG
      (860,989 )      860,989       —         —   
ProShares Ultra Silver
          
Citibank, N.A.
      (23,367,397 )      15,165,751       8,201,646        —   
Goldman Sachs International
      (2,057,658 )      2,057,658       —         —   
Morgan Stanley & Co. International PLC
      (13,960,418 )      —        13,960,418        —   
UBS AG
      (13,133,435 )      13,133,435       —         —   
ProShares Ultra Yen
          
Goldman Sachs International
      (2,164,084 )      —        2,164,084        —   
UBS AG
      (2,051,213 )      —        2,051,213        —   
ProShares UltraShort Euro
          
Goldman Sachs International
      584,165       (507,449 )      —         76,716  
UBS AG
      572,885       (271,576 )      —         301,309  
ProShares UltraShort Gold
          
Citibank, N.A.
      32,589       —        —         32,589  
Goldman Sachs International
      42,928       —        —         42,928  
UBS AG
      66,064       —        —         66,064  
ProShares UltraShort Silver
          
Citibank, N.A.
      1,653,589       (1,565,508 )      —         88,081  
Goldman Sachs International
      907,867       (865,802 )      —         42,065  
Morgan Stanley & Co. International PLC
      125,172       —        —         125,172  
UBS AG
      267,390       —        —         267,390  
ProShares UltraShort Yen
          
Goldman Sachs International
      1,253,912       (1,241,201 )      —         12,711  
UBS AG
      974,447       (954,822 )      —         19,625