Company: EUO
Filing Date: 2025-03-27
Form Type: 424B3
Source: 0001193125-25-065644
Chunk: 9

Company: ProShares Trust II
Filing Date: 2025-03-27
Form: 424B3
Chunk 9
---
 THE FUNDS COULD POTENTIALLY LOSE THE FULL PRINCIPAL VALUE OF HIS/HER INVESTMENT WITHIN A SINGLE DAY. THE VIX FUTURES FUND INCLUDES RISKS RELATING TO INVESTING IN AND SEEKING EXPOSURE TO VIX FUTURES CONTRACTS. THE GEARED FUNDS THAT USE LEVERAGE ARE RISKIER THAN SIMILARLY BENCHMARKED EXCHANGE-TRADED FUNDS THAT DO NOT USE LEVERAGE. AN INVESTOR SHOULD ONLY CONSIDER AN INVESTMENT IN A GEARED FUND IF HE OR SHE UNDERSTANDS THE CONSEQUENCES OF SEEKING DAILY INVESTMENT RESULTS. THE RETURN OF A GEARED FUND FOR A PERIOD LONGER THAN A GIVEN DAY IS THE RESULT OF ITS RETURN FOR EACH DAY COMPOUNDED OVER THE PERIOD AND USUALLY WILL DIFFER IN AMOUNT AND POSSIBLY EVEN DIRECTION FROM THE GEARED FUND’S STATED MULTIPLE TIMES THE RETURN OF THE GEARED FUND’S BENCHMARK FOR THE SAME PERIOD. THESE DIFFERENCES CAN BE SIGNIFICANT. SHAREHOLDERS WHO INVEST IN THE GEARED FUNDS SHOULD CONSIDER ACTIVELY MONITORING AND/OR PERIODICALLY REBALANCING THEIR INVESTMENTS (WHICH WILL POSSIBLY TRIGGER TRANSACTION COSTS AND TAX CONSEQUENCES) IN LIGHT OF THEIR INVESTMENT GOALS AND RISK TOLERANCE. PLEASE REFER TO “THE USE OF LEVERAGED OR INVERSE LEVERAGED POSITIONS INCREASES RISK AND COULD RESULT IN THE TOTAL LOSS OF AN INVESTOR’S INVESTMENT WITHIN A GIVEN DAY” AND “THE PERFORMANCE OF A GEARED FUND FOR PERIODS LONGER THAN A GIVEN DAY WILL LIKELY DIFFER FROM THE DAILY TARGET AND INVESTORS HOLDING SHARES FOR LONGER THAN A DAY SHOULD UNDERSTAND THE IMPACT OF BENCHMARK RETURNS AND VOLATILITY (HOW MUCH THE VALUE OF THE BENCHMARK MOVES UP AND DAY FROM DAY-TO-DAY) ON THEIR HOLDING PERIOD RETURN” UNDER THE CAPTION “RISK FACTORS” ON PAGE 12 . FOR ADDITIONAL DETAIL.

-4

THE VIX FUTURES FUND PRESENTS DIFFERENT RISKS THAN OTHER TYPES OF FUNDS, INCLUDING RISKS RELATING TO INVESTING AND SEEKING EXPOSURE TO VIX FUTURES CONTRACTS. AN