Company: EUO
Filing Date: 2025-03-28
Form Type: 424B3
Source: 0001193125-25-065647
Chunk: 17

Company: ProShares Trust II
Filing Date: 2025-03-28
Form: 424B3
Chunk 17
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 Funds. • The CBOE can make changes to the methodology and calculation of the VIX that could affect the value of VIX futures contracts and, consequently, the value of the Index and the Funds. • The Index may underperform other asset classes and may underperform other indices or benchmarks based upon the same underlying reference asset.

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• Financial markets, including the Index and the Financial Instruments used by a Fund, and Fund Shares may be subject to unusual trading activity, volatility, and potential fraud and/or manipulation by third parties, which could have a negative impact on the performance of the Index and the Fund or the liquidity and price of Fund Shares. • A Fund may change its investment objective, benchmark and investment strategies, and/or may terminate, at any time without shareholder approval. • There may be circumstances that could prevent or make it impractical for a Fund to operate in a manner consistent with its investment objective and investment strategies. • Historical correlation trends between the Index and other asset classes may not continue or may reverse, limiting or eliminating any potential diversification or other benefit from owning a Fund. • Index changes and market transactions, including the daily rebalancing of futures contracts by the Funds, may have a significant impact on the trading, liquidity and price of the futures contracts underlying the Index and, in turn, a significant impact on the performance of the Index and the Funds and the trading, liquidity and price of Fund Shares. • The lack of active trading markets for the Shares may result in losses upon the sale of such Shares. • Investors may be adversely affected by redemption or creation orders that are subject to postponement, limits, suspension or rejection under certain circumstances. • Purchases of Creation Units by Authorized Participants may be limited or suspended by the Sponsor in its sole discretion. For example, the Sponsor may limit or suspend the purchase of Creation Units if it believes doing so would help a Fund manage its portfolio, such as by allowing a Fund to comply with counterparty or position limits, or in response to significant and/or rapid increases in the size of a Fund as a result of an increase in creation activity. This may, among other things, cause Fund Shares to trade at a premium to NAV or otherwise have a negative impact on the liquidity and trading of Fund Shares. • The NAV per share may not correspond to the market price per share. • Investors may be adversely affected by an overstatement or understatement of a Fund’s NAV due to the valuation method employed or errors in the NAV calculation. • The liquidity of the shares may also