Company: EUO
Filing Date: 2025-03-18
Form Type: S-3/A
Source: 0001193125-25-056731
Chunk: 21

Company: ProShares Trust II
Filing Date: 2025-03-18
Form: S-3/A
Chunk 21
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 Shares. • Investors may be adversely affected by redemption or creation orders that are subject to postponement, limits, suspension or rejection under certain circumstances. • Purchases of Creation Units by Authorized Participants may be limited or suspended by the Sponsor in its sole discretion. For example, the Sponsor may limit or suspend the purchase of Creation Units if it believes doing so would help a Fund manage its portfolio, such as by allowing a Fund to comply with counterparty or position limits, or in response to significant and/or rapid increases in the size of a Fund as a result of an increase in creation activity. This may, among other things, cause Fund Shares to trade at a premium to NAV or otherwise have a negative impact on the liquidity and trading of Fund Shares. • The NAV per share may not correspond to the market price per share. • Investors may be adversely affected by an overstatement or understatement of a Fund’s NAV due to the valuation method employed or errors in the NAV calculation. • The liquidity of the shares may also 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