Company: EUO
Filing Date: 2025-03-18
Form Type: S-3/A
Source: 0001193125-25-056733
Chunk: 17

Company: ProShares Trust II
Filing Date: 2025-03-18
Form: S-3/A
Chunk 17
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 Shares will likely differ from the Fund’s stated multiple times the performance of its benchmark for such day. • Historical average volatility does not predict future volatility, which may be significantly higher or lower than historical averages. • In order to achieve a high degree of correlation with their applicable underlying benchmarks, the Funds seek to rebalance their portfolios daily to keep exposure consistent with their respective investment objectives. • Each Fund seeks to achieve its investment objective even during periods when the performance of the Fund’s benchmark is flat or when the benchmark is moving in a manner that may cause the value of the Fund to decline. • Shareholders’ tax liability may exceed cash distributions on the Shares. Investors in the Funds may be exposed to various tax risks, as described in further detail below. • Potential negative impact from rolling futures positions; there have been extended periods in the past where the investment strategies utilized by the Funds have caused significant and sustained losses. • The number of underlying components included in a Fund’s benchmark may impact the volatility of such benchmark, which could adversely affect an investment in the Shares. • Possible illiquid markets may cause or exacerbate losses: the large size of the positions the Funds may acquire increases these risks. • Changes implemented by the benchmark provider that affect the composition and valuation of the benchmark could negatively impact the performance of the benchmark and therefore the performance of the Funds. • The particular benchmark used by a Fund may underperform other asset classes and may underperform other indices or benchmarks based upon the same underlying Reference Asset. • A Fund may change its investment objective, benchmark and investment strategies, and/or may terminate, at any time without shareholder approval. • Financial markets, including the benchmark and 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 benchmark and the Fund or the liquidity and price of Fund Shares. • Historical correlation trends between Fund benchmarks and other asset classes may not continue or may reverse, limiting or eliminating any potential diversification or other benefit from owning a Fund. • Benchmark changes and market transactions, including the daily rebalancing of futures contracts by the Funds may have a significant impact on the performance of the benchmark 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.

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• Investors may be adversely affected by redemption or creation orders that are subject to postponement, limits, suspension or rejection