Company: EUO
Filing Date: 2025-03-28
Form Type: 424B3
Source: 0001193125-25-065647
Chunk: 18

Company: ProShares Trust II
Filing Date: 2025-03-28
Form: 424B3
Chunk 18
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 be affected by the withdrawal from participation of authorized participants, which could adversely affect the market price of the Shares. • Shareholders that are not Authorized Participants may only purchase or sell their Shares in secondary trading markets, and the conditions associated with trading in secondary markets may adversely affect investors’ investment in the Shares. • A Fund’s listing exchange may halt trading in the Shares of the Fund which would adversely impact investors’ ability to sell shares and could lead to investor losses. • Shareholders do not have the protections associated with ownership of shares in an investment company registered under the 1940 Act. • Regulatory and exchange daily price limits, position limits and accountability levels may cause the Sponsor to restrict the creation of creation units, which could have a negative impact on the operation of each Fund, prevent a Fund from achieving its investment objective, and disrupt secondary market trading of Fund Shares. • Margin requirements and position limits applicable to futures contracts and the availability of and margin required by swap counterparties may limit a Fund’s ability to achieve sufficient exposure and prevent a Fund from achieving its investment objective. • The insolvency of a futures commission merchant (“FCM”) or clearinghouse or the failure of an FCM or clearinghouse to properly segregate Fund assets held as margin on futures transactions may result in losses to the Funds. • A Fund’s performance could be adversely affected if an FCM reduces its internal risk limits for the Fund.

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• Derivatives may expose the Funds to counterparty credit risk, liquidity risk, and other risks, which could result in significant loss to the Funds. Options use may be costly and may not protect a Fund, and changes to options pricing and valuation models may adversely affect the Funds. • In a rising rate environment, the Funds may not be able to fully invest at prevailing rates until any current investments in U.S. Treasury securities mature in order to avoid selling those investments at a loss. • 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 herein. • Natural disasters and public health disruptions, may have a significant negative impact on the performance of each Fund; the risks and other information described herein could become outdated as a result of such events. • In response to Russia’s ongoing invasion of Ukraine that started in February 2022 and the current conflict between those two countries, the U.S. and other countries, as well as the European Union, have issued broad-ranging economic sanctions designed to impose severe pressure on Russia’s economy