Company: EUO
Filing Date: 2025-03-18
Form Type: S-3/A
Source: 0001193125-25-056731
Chunk: 18

Company: ProShares Trust II
Filing Date: 2025-03-18
Form: S-3/A
Chunk 18
---
 underlying certain of the Funds have different closing (or fixing) times than U.S. Equity markets, the create/redeem cut-off time and NAV calculation time for each Fund may differ. See the section entitled “Net Asset Value” for additional information about the NAV calculations.

| Create/Redeem Cut-off    | NAV                      
 Calculation Time         |
| 2:00 p.m. (Eastern Time) | 4:00 p.m. (Eastern Time) |

Breakeven Amounts The Fund will be profitable only if returns from the Fund’s investments exceed its “breakeven amount.” Estimated breakeven amounts are set forth in the table below. The estimated breakeven amounts represent the estimated amount of trading income that each Fund would need to achieve during one year to offset the Fund’s estimated fees, costs and expenses, net of any interest income earned by the Fund on its investments. Estimated amounts do not represent actual results, which may be different. It is not possible to predict whether a Fund will break even at the end of the first twelve months of an investment or any other period. See “ Charges—Breakeven Table ,” beginning on page 60 , for more detailed tables showing Breakeven Amounts.

| Fund Name                                  | Breakeven Amount(% Per Annum ofAverageDaily NAV)* | AssumedSellingPricePer Share* | Breakeven Amount($ for theAssumed SellingPrice Per Share)* |
| ProShares Ultra VIX Short-Term Futures ETF | 0.00%                                             |                        $20.00 |                                                      $0.00 |
| ProShares Short VIX Short-Term Futures ETF | 0.00%                                             |                        $50.00 |                                                      $0.00 |
| ProShares VIX Short-Term Futures ETF       | 0.00%                                             |                        $45.00 |                                                      $0.00 |

* The breakeven analysis set forth in this table assumes that the Shares have a constant NAV equal to the amount shown. The amount approximates the NAV of such shares based on recent NAV history as of January 31, 2025, rounded to the nearest $5. The actual NAV of each Fund differs and is likely to change on a daily basis. The numbers in this chart have been rounded to the nearest 0.01. Current Developments Ongoing geopolitical events, such as Russia’s continued military actions against Ukraine which started in February 2022, the Israel-Hamas conflict, and the Houthi