Company: EUO
Filing Date: 2025-02-13
Form Type: S-3
Source: 0001193125-25-026201
Chunk: 22

Company: ProShares Trust II
Filing Date: 2025-02-13
Form: S-3
Chunk 22
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 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 These risk factors may be amended, supplemented or superseded from time to time by risk factors contained in any periodic report, prospectus supplement, post-effective amendment or in other reports filed with the SEC in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 the Index approaching 66.7% at any point in the day could result in the total loss or almost total loss of an investment in the Fund if that movement is contrary to the investment objective of the UltraFund. This would be the case with downward single-day or intraday movements in the Index, even if the Index maintains a level greater than zero at all times and even if the Index subsequently moves in an opposite direction, eliminating all or a portion of the prior adverse movement. It is not possible to predict when sudden large changes in the daily movement of a benchmark may occur. For example, because the UltraShort Fund includes one-half times (-.5x) multiplier, a single-day movement in the Index approaching 50% at any point in the day could result in the total loss or almost total loss of an investment in the Fund if that movement is contrary to the investment objective of the UltraShort Fund. This would be the case with