Company: EUO
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001193125-25-039791
Chunk: 26

Company: ProShares Trust II
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1A
Chunk 26
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RISK FACTOR SUMMARY 

Risks Specific to the Geared Funds 

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 Each Fund’s returns over periods longer than a day will likely differ in amount and possibly even direction from the Fund’s daily target for such period. 

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 Correlation risks specific to the Geared Funds may arise because the Geared Funds seek to rebalance their portfolios daily to keep daily exposure consistent with their investment objectives to achieve a high degree of daily correlation with their applicable underlying benchmarks. 

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 The use of leveraged, inverse and/or inverse leveraged positions could result in the total loss of an investor’s investment within a given day. 

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 Intraday price/performance of Geared Funds will likely differ from the Fund’s stated daily multiple times the performance of its Benchmark for such day. 

Risks Specific to the Currency Funds, Precious Metals Funds, Natural Gas Funds, and Oil Funds 

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 The Currency Funds are subject to a number of risks impacting the value of non-U.S. currencies and the value of Financial Instruments based on such currencies. For example, European financial markets and the value of the euro have experienced significant volatility, in part related to unemployment, budget deficits and economic downturns. In addition, the euro could be abandoned in the future by countries that have already adopted its use. 

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 The Precious Metals Funds do not hold gold or silver bullion. Rather, the Precious Metals Funds use Financial Instruments to gain exposure to gold and silver bullion. Using Financial Instruments to obtain exposure to gold or silver bullion may cause tracking error and subject the Precious Metals Funds to the effects of contango and backwardation. 

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