Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2026

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, 2026 were typically as follows. All times are Eastern Standard Time:


	Create/Redeem	NAV Calculation	NAV
Fund	Cut-off*	Time	Calculation Date
Ultra Silver and UltraShort Silver	1:00 p.m.	1:25 p.m.	June 30, 2026
Ultra Gold and UltraShort Gold	1:00 p.m.	1:30 p.m.	June 30, 2026
Ultra Bloomberg Crude Oil	2:00 p.m.	2:30 p.m.	June 30, 2026
Ultra Bloomberg Natural Gas	2:00 p.m.	2:30 p.m.	June 30, 2026
UltraShort Bloomberg Crude Oil	2:00 p.m.	2:30 p.m.	June 30, 2026
UltraShort Bloomberg Natural Gas	2:00 p.m.	2:30 p.m.	June 30, 2026
Ultra Euro, Ultra Yen, Ultrashort Euro	3:00 p.m.	4:00 p.m.	June 30, 2026
and Ultrashort Yen
Short VIX Short-Term Futures ETF	2:00 p.m.	4:00 p.m.	June 30, 2026
Ultra VIX Short-Term Futures ETF	2:00 p.m.	4:00 p.m.	June 30, 2026
VIX Mid-Term Futures ETF	2:00 p.m.	4:00 p.m.	June 30, 2026
VIX Short-Term Futures ETF	2:00 p.m.	4:00 p.m.	June 30, 2026

*	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, 2026.

Valuation of Investments using Fair Value Hierarchy

The following table summarizes the valuation of investments at June 30, 2026 using the fair value hierarchy:


	Level I - Quoted Prices							Level II - Other Significant Observable Inputs
Fund	Short-Term U.S. Government and Agencies		Exchange Traded Fund		Futures Contracts *			Foreign Currency Forward Contracts			Swap Agreements			Total
ProShares Short VIX Short-Term Futures ETF	$	44,645,753	$	75,045,000	$	11,931,229		$	—		$	—		$	131,621,982
ProShares Ultra Bloomberg Crude Oil		248,639,306		70,049,000		(3,645,927	)		—			(75,305,700	)		239,736,679
ProShares Ultra Bloomberg Natural Gas		99,638,000		100,070,000		4,878,818			—			—			204,586,818
ProShares Ultra Euro		1,994,224		—		—			(125,840	)		—			1,868,384
ProShares Ultra Gold		398,489,670		180,126,000		(43,082,533	)		—			(32,882,489	)		502,650,648
ProShares Ultra Silver		939,739,692		280,196,000		(55,109,618	)		—			(129,195,651	)		1,035,630,423
ProShares Ultra VIX Short-Term Futures ETF		—		50,030,000		(32,887,617	)		—			—			17,142,383
ProShares Ultra Yen		6,979,785		11,006,600		—			(950,325	)		—			17,036,060
ProShares UltraShort Bloomberg Crude Oil		278,944,830		300,210,000		285,027,123			—			—			864,181,953
ProShares UltraShort Bloomberg Natural Gas		—		45,031,500		577,621			—			—			45,609,121
ProShares UltraShort Euro		9,971,121		10,006,000		—			898,576			—			20,875,697
ProShares UltraShort Gold		39,855,200		30,021,000		14,999,402			—			2,918,311			87,793,913
ProShares UltraShort Silver		44,628,208		20,014,000		10,415,810			—			5,352,880			80,410,898
ProShares UltraShort Yen		9,971,121		7,004,200		—			907,935			—			17,883,256
ProShares VIX Mid-Term Futures ETF		9,963,800		15,009,000		(3,601,639	)		—			—			21,371,161
ProShares VIX Short-Term Futures ETF		—		65,039,000		(17,083,960	)		—			—			47,955,040

Combined Trust:	$	2,133,460,710	$	1,258,857,300	$	172,418,709		$	730,346		$	(229,112,649	)	$	3,336,354,416

*	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.

There were no transfers into or out of Level 3 for the period ended June 30, 2026.

The following table summarizes the valuation of investments at December 31, 2025 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	$	59,907,798	$	15,699,597		$	—		$	—		$	75,607,395
ProShares Ultra Bloomberg Crude Oil		149,575,489		(3,689,107	)		—			(11,151,121	)		134,735,261
ProShares Ultra Bloomberg Natural Gas		234,273,034		(132,096,872	)		—			—			102,176,162
ProShares Ultra Euro		—		—			62,690			—			62,690
ProShares Ultra Gold		548,706,159		37,298,279			—			28,676,455			614,680,893
ProShares Ultra Silver		967,310,974		419,245,399			—			313,913,258			1,700,469,631
ProShares Ultra VIX Short-Term Futures ETF		99,775,566		(56,075,162	)		—			—			43,700,404
ProShares Ultra Yen		—		—			(1,182,648	)		—			(1,182,648	)
ProShares UltraShort Bloomberg Crude Oil		44,913,599		12,025,118			—			—			56,938,717
ProShares UltraShort Bloomberg Natural Gas		69,821,093		53,943,537			—			—			123,764,630
ProShares UltraShort Euro		—		—			(392,374	)		—			(392,374	)
ProShares UltraShort Gold		—		(855,047	)		—			(2,568,196	)		(3,423,243	)
ProShares UltraShort Silver		—		(9,278,851	)		—			(4,320,147	)		(13,598,998	)
ProShares UltraShort Yen		—		—			844,235			—			844,235
ProShares VIX Mid-Term Futures ETF		—		(2,035,549	)		—			—			(2,035,549	)
ProShares VIX Short-Term Futures ETF		84,751,266		(21,568,263	)		—			—			63,183,003

Combined Trust:	$	2,259,034,978	$	312,613,079		$	(668,097	)	$	324,550,249		$	2,895,530,209

*	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.