Company: EUO
Filing Date: 2025-03-18
Form Type: S-3/A
Source: 0001193125-25-056733
Chunk: 4

Company: ProShares Trust II
Filing Date: 2025-03-18
Form: S-3/A
Chunk 4
---
IFICANT RISKS. PLEASE REFER TO “RISK FACTORS” BEGINNING ON PAGE 12 . INVESTMENT IN A FUND INVOLVES RISKS THAT ARE DIFFERENT FROM AND ADDITIONAL TO THE RISKS OF INVESTMENTS IN OTHER TYPES OF FUNDS. AN INVESTOR SHOULD ONLY CONSIDER AN INVESTMENT IN A FUND IF

-1

HE OR SHE UNDERSTANDS THE CONSEQUENCES OF SEEKING DAILY LEVERAGED OR DAILY INVERSE LEVERAGED INVESTMENT RESULTS. THE FUNDS’ INVESTMENTS MAY BE ILLIQUID AND/OR HIGHLY VOLATILE AND THE FUNDS MAY EXPERIENCE LARGE LOSSES FROM BUYING, SELLING OR HOLDING SUCH INVESTMENTS. AN INVESTOR IN ANY OF THE FUNDS COULD POTENTIALLY LOSE THE FULL PRINCIPAL VALUE OF HIS/HER INVESTMENT WITHIN A SINGLE DAY. SHAREHOLDERS WHO INVEST IN THE FUNDS SHOULD ACTIVELY MANAGE AND MONITOR THEIR INVESTMENTS, AS FREQUENTLY AS DAILY. The Ultra Fund seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of its benchmark on a given day. The Ultra Fund does not seek to achieve two times (2x) the daily performance of its Benchmark for any period other than a day. If an Ultra Fund is successful in meeting its objective, it should gain approximately two times as much as its Benchmark when the Benchmark rises on a given day. Conversely, an Ultra Fund should lose approximately two times as much as its Benchmark when the Benchmark falls on a given day. The UltraShort Fund seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) the daily performance of its benchmark on a given day. If an UltraShort Fund is successful in meeting its objective, it should gain approximately two times as much as its Benchmark loses when the Benchmark falls on a given day. Conversely, an UltraShort Fund should lose approximately two times as much as its Benchmark gains when the Benchmark rises on a given day. Each of the Funds uses leverage and should produce returns for a single day that are more volatile than that of its respective benchmark. For example, the return for a single day of an Ultra Fund with a 2x multiple should be approximately two times as volatile for a single day as the return of a fund with an objective of matching the same benchmark