Company: EUO
Filing Date: 2025-03-28
Form Type: 424B3
Source: 0001193125-25-065648
Chunk: 16

Company: ProShares Trust II
Filing Date: 2025-03-28
Form: 424B3
Chunk 16
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 could have a negative impact on the operation of each Fund, prevent a Fund from achieving its Daily Target, and disrupt secondary market trading of Fund Shares. • The use of futures contracts may expose the Funds to liquidity and other risks, which could result in significant loss to the Funds. • Margin requirements and position limits applicable to futures contracts and swaps and the availability of and market required by swap counterparties may limit a Fund’s ability to achieve sufficient exposure and prevent a Fund from achieving its Daily Target. • 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. • The use of swap agreements may expose the Funds to liquidity risk, counterparty credit risk and other risks, which could result in significant loss to the Funds. • The use of derivatives, such as swap agreements and forward contracts, exposes the Funds to counterparty credit risks. • 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. • The use of options strategies may expose the Funds to significant loss and liquidity, counterparty and other risks. The use of an options strategy is costly and may not protect a Fund. • Natural disasters and public health disruptions, such as the COVID-19 virus (including any variants), may have a significant negative impact on the performance of each Fund. • 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

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on Russia’s economy. Currently, such sanctions, and the conflict generally, have caused adverse effects on regional and global economic and commodity markets, may result in increased volatility, and could have a negative impact on the performance of a Fund and its or the liquidity and price of Fund Shares. • The Israel-Hamas conflict and the Houthi movement’s attacks on marine vessels in the Red Sea and U.S. responses have caused adverse effects on regional and global economic and commodity markets, may result in increased volatility, and could have a negative impact on the performance of a Fund and its or the liquidity and price of Fund