Company: EUO
Filing Date: 2025-03-28
Form Type: 424B3
Source: 0001193125-25-065647
Chunk: 19

Company: ProShares Trust II
Filing Date: 2025-03-28
Form: 424B3
Chunk 19
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. 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 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.

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RISK FACTORS Investing in the Funds involves significant risks not applicable to other types of investments. The assets that the Funds invest in can be highly volatile. The Funds may experience sudden and large losses. You could potentially lose the full principal value of your investment within a given day. Before you decide to purchase any Shares, you should consider carefully the risks described below together with all of the other information included in this Prospectus, as well as information found in documents incorporated by reference in this Prospectus. These risk factors may be amended, supplemented or superseded from time to time by risk factors contained in any periodic report, prospectus supplement, post-effective amendment or in other reports filed with the SEC in the future. The Funds may be highly volatile and generally are intended for short-term investment purposes only. Risks Specific to the Geared Funds In addition to the risks described elsewhere in this “Risk Factors” section, the following risks apply to the Geared Funds. The use of leveraged positions increases risk and could result in the total loss of an investor’s investment within a given day. The Ultra Fund utilizes leverage in seeking to achieve its investment objective and will lose more money in market environments adverse to its Daily Target than funds that do not employ leverage. The use of leveraged positions increases risk and could result in the total loss of an investor’s investment within a given day. The more the Ultra Fund invests in leveraged positions, the more this leverage will magnify any losses on those investments. The Ultra Fund’s investments in leveraged positions generally requires a small investment relative to the amount of investment exposure assumed. As a result, such investments may give rise to losses that far exceed the amount invested in those instruments. The use of leverage increases the volatility of your returns. The cost of obtaining leverage will lower your returns. For example, because the Ultra Fund includes a one and one-half times (1.5x) multiplier, a single-day movement in