Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended |
Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from |
(State or other jurisdiction of incorporation or organization) |
(I.R.S. Employer Identification No.) |
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
| ☒ | Accelerated Filer | ☐ | ||||
| Non-Accelerated Filer | ☐ | Smaller Reporting Company | ||||
| Emerging Growth Company | ☐ | |||||
Page | ||
Part I. FINANCIAL INFORMATION |
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| 3 | ||
| 141 | ||
| 192 | ||
| 207 | ||
Part II. OTHER INFORMATION |
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| 209 | ||
| 209 | ||
| 211 | ||
| 213 | ||
| 213 | ||
| 213 | ||
| 214 | ||
Item 1. |
Financial Statements. |
Documents |
Page |
|||
Statements of Financial Condition, Schedule of Investments, Statements of Operations, Statements of Changes in Shareholders’ Equity, and Statements of Cash Flows: |
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| 4 | ||||
| 9 | ||||
| 14 | ||||
| 19 | ||||
| 24 | ||||
| 29 | ||||
| 34 | ||||
| 39 | ||||
| 44 | ||||
| 49 | ||||
| 54 | ||||
| 59 | ||||
| 64 | ||||
| 69 | ||||
| 74 | ||||
| 79 | ||||
| 84 | ||||
| 89 | ||||
| 94 | ||||
| 98 | ||||
June 30, 2020 (unaudited) |
December 31, 2019 |
|||||||
| Assets |
||||||||
| Short-term U.S. government and agency obligations (Note 3) (cost $– and $ |
$ | $ | ||||||
| Cash |
||||||||
| Segregated cash balances with brokers for futures contracts |
||||||||
| Receivable on open futures contracts |
— | |||||||
| Interest receivable |
||||||||
| |
|
|
|
|||||
| Total assets |
||||||||
| |
|
|
|
|||||
| Liabilities and shareholders’ equity |
||||||||
| Liabilities |
||||||||
| Payable on open futures contracts |
— | |||||||
| Payable to Sponsor |
||||||||
| |
|
|
|
|||||
| Total liabilities |
||||||||
| |
|
|
|
|||||
| Commitments and Contingencies (Note 2) |
||||||||
| Shareholders’ equity |
||||||||
| Shareholders’ equity |
||||||||
| |
|
|
|
|||||
| Total liabilities and shareholders’ equity |
$ | $ | ||||||
| |
|
|
|
|||||
| Shares outstanding |
||||||||
| |
|
|
|
|||||
| Net asset value per share |
$ | $ | ||||||
| |
|
|
|
|||||
| Market value per share (Note 2) |
$ | $ | ||||||
| |
|
|
|
|||||
Number of Contracts |
Notional Amount at Value |
Unrealized Appreciation (Depreciation)/Value |
||||||||||
| Euro Fx Currency Futures—CME, expires September 2020 |
$ | $ | ||||||||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Investment Income |
||||||||||||||||
Interest |
$ | $ | $ | $ | ||||||||||||
Expenses |
||||||||||||||||
Management fee |
||||||||||||||||
Brokerage commissions |
||||||||||||||||
Total expenses |
||||||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Realized and unrealized gain (loss) on investment activity |
||||||||||||||||
Net realized gain (loss) on |
||||||||||||||||
Futures contracts |
( |
) | ( |
) | ||||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) on |
||||||||||||||||
Futures contracts |
( |
) | ( |
) | ( |
) | ||||||||||
Short-term U.S. government and agency obligations |
— | ( |
) | |||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ( |
) | ||||||||||
Net realized and unrealized gain (loss) |
( |
) | ( |
) | ||||||||||||
Net income (loss) |
$ | ( |
) | $ | ( |
) | $ | $ | ||||||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Shareholders’ equity, beginning of period |
$ | $ | $ | $ | ||||||||||||
Addition of –, –, – and |
— | — | — | |||||||||||||
Net addition (redemption) of –, –, – and |
— | — | — | |||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ( |
) | ||||||||||
Net income (loss) |
( |
) | ( |
) | ||||||||||||
Shareholders’ equity, end of period |
$ | $ | $ | $ | ||||||||||||
Six Months Ended June 30, |
||||||||
2020 |
2019 |
|||||||
Cash flow from operating activities |
||||||||
Net income (loss) |
$ | $ | ||||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
||||||||
Purchases of short-term U.S. government and agency obligations |
( |
) | ||||||
Proceeds from sales or maturities of short-term U.S. government and agency obligations |
||||||||
Net amortization and accretion on short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Change in unrealized appreciation (depreciation) on investments |
( |
) | ||||||
Decrease (Increase) in receivable on futures contracts |
( |
) | ||||||
Decrease (Increase) in interest receivable |
( |
) | ||||||
Increase (Decrease) in payable to Sponsor |
( |
) | ||||||
Increase (Decrease) in payable on futures contracts |
( |
) | ||||||
Net cash provided by (used in) operating activities |
( |
) | ||||||
Cash flow from financing activities |
||||||||
Proceeds from addition of shares |
||||||||
Net cash provided by (used in) financing activities |
||||||||
Net increase (decrease) in cash |
( |
) | ||||||
Cash, beginning of period |
||||||||
Cash, end of period |
$ | $ | ||||||
June 30, 2020 (unaudited) |
December 31, 2019 |
|||||||
| Assets |
||||||||
| Short-term U.S. government and agency obligations (Note 3) (cost $ |
$ | $ | ||||||
| Cash |
||||||||
| Segregated cash balances with brokers for futures contracts |
||||||||
| Receivable on open futures contracts |
||||||||
| Interest receivable |
||||||||
| |
|
|
|
|||||
| Total assets |
||||||||
| |
|
|
|
|||||
| Liabilities and shareholders’ equity |
||||||||
| Liabilities |
||||||||
| Payable on open futures contracts |
— | |||||||
| Brokerage commissions and fees payable |
— | |||||||
| Payable to Sponsor |
||||||||
| |
|
|
|
|||||
| Total liabilities |
||||||||
| |
|
|
|
|||||
| Commitments and Contingencies (Note 2) |
||||||||
| Shareholders’ equity |
||||||||
| Shareholders’ equity |
||||||||
| |
|
|
|
|||||
| Total liabilities and shareholders’ equity |
$ | $ | ||||||
| |
|
|
|
|||||
| Shares outstanding |
||||||||
| |
|
|
|
|||||
| Net asset value per share |
$ | $ | ||||||
| |
|
|
|
|||||
| Market value per share (Note 2) |
$ | $ | ||||||
| |
|
|
|
|||||
Principal Amount |
Value |
|||||||
Short-term U.S. government and agency obligations |
||||||||
( |
||||||||
U.S. Treasury Bills ^^ : |
||||||||
| $ | $ | |||||||
Total short-term U.S. government and agency obligations |
||||||||
(cost $ |
$ | |||||||
Number of Contracts |
Notional Amount at Value |
Unrealized Appreciation (Depreciation)/Value |
||||||||||
VIX Futures - Cboe, expires July 2020 |
$ | $ | ||||||||||
VIX Futures - Cboe, expires August 2020 |
||||||||||||
| $ | ||||||||||||
| ^^ |
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Investment Income |
||||||||||||||||
Interest |
$ | $ | $ | $ | ||||||||||||
Expenses |
||||||||||||||||
Management fee |
||||||||||||||||
Brokerage commissions |
||||||||||||||||
Brokerage fees |
– | |||||||||||||||
Non-recurring fees and expenses |
– | – | – | |||||||||||||
Total expenses |
||||||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Realized and unrealized gain (loss) on investment activity |
||||||||||||||||
Net realized gain (loss) on |
||||||||||||||||
Futures contracts |
( |
) | ||||||||||||||
Short-term U.S. government and agency obligations |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Net realized gain (loss) |
( |
) | ||||||||||||||
Change in net unrealized appreciation (depreciation) on |
||||||||||||||||
Futures contracts |
( |
) | ( |
) | ||||||||||||
Short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ||||||||||||
Net realized and unrealized gain (loss) |
( |
) | ||||||||||||||
Net income (loss) |
$ | $ | $ | ( |
) | $ | ||||||||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
| Shareholders’ equity, beginning of period |
$ | $ | $ | $ | ||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Addition of |
– | |||||||||||||||
| Redemption of respectively |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Net addition (redemption) of ( ( |
( |
) | ( |
) | ( |
) | ||||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
| Net realized gain (loss) |
( |
) | ||||||||||||||
| Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Net income (loss) |
( |
) | ||||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Shareholders’ equity, end of period |
$ | $ | $ | $ | ||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
Six Months Ended June 30, |
||||||||
2020 |
2019 |
|||||||
Cash flow from operating activities |
||||||||
Net income (loss) |
$ | ( |
) | $ | ||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
||||||||
Purchases of short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Proceeds from sales or maturities of short-term U.S. government and agency obligations |
||||||||
Net amortization and accretion on short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Net realized gain (loss) on investments |
||||||||
Change in unrealized appreciation (depreciation) on investments |
( |
) | ||||||
Decrease (Increase) in receivable on futures contracts |
( |
) | ( |
) | ||||
Decrease (Increase) in interest receivable |
( |
) | ||||||
Increase (Decrease) in payable to Sponsor |
( |
) | ||||||
Increase (Decrease) in brokerage commissions and fees payable |
||||||||
Increase (Decrease) in payable on futures contracts |
( |
) | ||||||
Increase (Decrease) in non-recurring fees and expenses payable |
||||||||
Net cash provided by (used in) operating activities |
( |
) | ( |
) | ||||
Cash flow from financing activities |
||||||||
Proceeds from addition of shares |
||||||||
Payment on shares redeemed |
( |
) | ( |
) | ||||
Net cash provided by (used in) financing activities |
( |
) | ||||||
Net increase (decrease) in cash |
( |
) | ||||||
Cash, beginning of period |
||||||||
Cash, end of period |
$ | $ | ||||||
June 30, 2020 (unaudited) |
December 31, 2019 |
|||||||
| Assets |
||||||||
| Short-term U.S. government and agency obligations (Note 3) (cost $– and $ |
$ | – | $ | |||||
| Cash |
||||||||
| Segregated cash balances with brokers for futures contracts |
||||||||
| Segregated cash balances with brokers for swap agreements |
– | |||||||
| Unrealized appreciation on swap agreements |
||||||||
| Securities sold receivable |
– | |||||||
| Receivable on open futures contracts |
– | |||||||
| Interest receivable |
||||||||
| |
|
|
|
|||||
| Total assets |
||||||||
| |
|
|
|
|||||
| Liabilities and shareholders’ equity |
||||||||
| Liabilities |
||||||||
| Payable for capital shares redeemed |
– | |||||||
| Payable on open futures contracts |
||||||||
| Payable to Sponsor |
||||||||
| |
|
|
|
|||||
| Total liabilities |
||||||||
| |
|
|
|
|||||
| Commitments and Contingencies (Note 2) |
||||||||
| Shareholders’ equity |
||||||||
| Shareholders’ equity |
||||||||
| |
|
|
|
|||||
| Total liabilities and shareholders’ equity |
$ | $ | ||||||
| |
|
|
|
|||||
| Shares outstanding (Note 1) |
||||||||
| |
|
|
|
|||||
| Net asset value per share (Note 1) |
$ | $ | ||||||
| |
|
|
|
|||||
| Market value per share (Note 1) (Note 2) |
$ | $ | ||||||
| |
|
|
|
|||||
Futures Contracts Purchased |
||||||||||||
Number of Contracts |
Notional Amount at Value |
Unrealized Appreciation (Depreciation)/Value |
||||||||||
WTI Crude Oil - NYMEX, expires September 2020 |
$ | $ | ||||||||||
WTI Crude Oil - NYMEX, expires October 2020 |
( |
) | ||||||||||
WTI Crude Oil - NYMEX, expires December 2020 |
||||||||||||
| $ | ||||||||||||
Rate Paid (Received) * |
Termination Date |
Notional Amount at Value ** |
Unrealized Appreciation (Depreciation)/Value |
|||||||||||||
Swap agreement with Goldman Sachs International based on Bloomberg WTI Crude Oil Subindex |
% | $ | $ | |||||||||||||
Swap agreement with Morgan Stanley based on Morgan Stanley WTI Crude Oil Subindex |
( |
) | ||||||||||||||
Swap agreement with Societe Generale based on Bloomberg WTI Crude Oil Subindex |
||||||||||||||||
| Total Unrealized Appreciation |
$ |
|||||||||||||||
| ^ | The positions and counterparties herein are as of June 30, 2020. The Fund continually evaluates different counterparties for their transactions and counterparties are subject to change. New counterparties can be added at any time. |
| * | Reflects the floating financing rate, as of June 30, 2020, on the notional amount of the swap agreement paid to the counterparty or received from the counterparty, excluding any commissions. Total Return Swap Agreements payment is due at termination/maturity. |
| ** | For swap agreements, a positive amount represents “long” exposure to the benchmark index. A negative amount represents “short” exposure to the benchmark index. |
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Investment Income |
||||||||||||||||
Interest |
$ | $ | $ | $ | ||||||||||||
Expenses |
||||||||||||||||
Management fee |
||||||||||||||||
Brokerage commissions |
||||||||||||||||
Brokerage fees |
– | – | ||||||||||||||
Total expenses |
||||||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Realized and unrealized gain (loss) on investment activity |
||||||||||||||||
Net realized gain (loss) on |
||||||||||||||||
Futures contracts |
( |
) | ( |
) | ||||||||||||
Swap agreements |
( |
) | ( |
) | ( |
) | ||||||||||
Short-term U.S. government and agency obligations |
||||||||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
Change in net unrealized appreciation (depreciation) on |
||||||||||||||||
Futures contracts |
( |
) | ||||||||||||||
Swap agreements |
( |
) | ||||||||||||||
Short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) |
||||||||||||||||
Net realized and unrealized gain (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
Net income (loss) |
$ | ( |
) | $ | ( |
) | $ | ( |
) | $ | ||||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
| Shareholders’ equity, beginning of period |
$ | $ | $ | $ | ||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Addition of ( Note 1 ) |
||||||||||||||||
| Redemption of ( N ote 1 |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Net addition (redemption) of ( Note 1 ) |
( |
) | ( |
) | ||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
| Net realized gain (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
| Change in net unrealized appreciation (depreciation) |
||||||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Net income (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Shareholders’ equity, end of period |
$ | $ | $ | $ | ||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
Six Months Ended June 30, |
||||||||
2020 |
2019 |
|||||||
Cash flow from operating activities |
||||||||
Net income (loss) |
$ | ( |
) | $ | ||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
||||||||
Purchases of short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Proceeds from sales or maturities of short-term U.S. government and agency obligations |
||||||||
Net amortization and accretion on short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Net realized gain (loss) on investments |
( |
) | ( |
) | ||||
Change in unrealized appreciation (depreciation) on investments |
( |
) | ||||||
Decrease (Increase) in securities sold receivable |
( |
) | ||||||
Decrease (Increase) in receivable on futures contracts |
( |
) | ||||||
Decrease (Increase) in interest receivable |
( |
) | ||||||
Increase (Decrease) in payable to Sponsor |
( |
) | ||||||
Increase (Decrease) in payable on futures contracts |
||||||||
Net cash provided by (used in) operating activities |
( |
) | ||||||
Cash flow from financing activities |
||||||||
Proceeds from addition of shares |
||||||||
Payment on shares redeemed |
( |
) | ( |
) | ||||
Net cash provided by (used in) financing activities |
( |
) | ||||||
Net increase (decrease) in cash |
( |
) | ||||||
Cash, beginning of period |
||||||||
Cash, end of period |
$ | $ | ||||||
June 30, 2020 (unaudited) |
December 31, 2019 |
|||||||
Assets |
||||||||
Short-term U.S. government and agency obligations (Note 3) (cost $ |
$ | $ | ||||||
Cash |
||||||||
Segregated cash balances with brokers for futures contracts |
||||||||
Receivable on open futures contracts |
||||||||
Interest receivable |
||||||||
Total assets |
||||||||
Liabilities and shareholders’ equity |
||||||||
Liabilities |
||||||||
Payable to Sponsor |
||||||||
Total liabilities |
||||||||
Commitments and Contingencies (Note 2) |
||||||||
Shareholders’ equity |
||||||||
Shareholders’ equity |
||||||||
Total liabilities and shareholders’ equity |
$ | $ | ||||||
Shares outstanding (Note 1) |
||||||||
Net asset value per share (Note 1) |
$ | $ | ||||||
Market value per share (Note 1) (Note 2) |
$ | $ | ||||||
Principal Amount |
Value |
|||||||
Short-term U.S. government and agency obligations |
||||||||
( |
||||||||
U.S. Treasury Bills ^^ : |
||||||||
| $ | $ | |||||||
Total short-term U.S. government and agency obligations |
||||||||
(cost $ |
$ | |||||||
Number of Contracts |
Notional Amount at Value |
Unrealized Appreciation (Depreciation)/Value |
||||||||||
Natural Gas - NYMEX, expires September 2020 |
$ | $ | ( |
) | ||||||||
| ^^ |
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Investment Income |
||||||||||||||||
Interest |
$ | $ | $ | $ | ||||||||||||
Expenses |
||||||||||||||||
Management fee |
||||||||||||||||
Brokerage commissions |
||||||||||||||||
Brokerage fees |
— | — | ||||||||||||||
Total expenses |
||||||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Realized and unrealized gain (loss) on investment activity |
||||||||||||||||
Net realized gain (loss) on |
||||||||||||||||
Futures contracts |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Short-term U.S. government and agency obligations |
( |
) | ||||||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Change in net unrealized appreciation (depreciation) on |
||||||||||||||||
Futures contracts |
( |
) | ||||||||||||||
Short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ||||||||||||||
Net realized and unrealized gain (loss) |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Net income (loss) |
$ | ( |
) | $ | ( |
) | $ | ( |
) | $ | ( |
) | ||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
| Shareholders’ equity, beginning of period |
$ | $ | $ | $ | ||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Addition of (Note 1) |
||||||||||||||||
| Redemption of (Note 1 ) |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Net addition (redemption) of (Note 1) |
||||||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
| Net realized gain (loss) |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
| Change in net unrealized appreciation (depreciation) |
( |
) | ||||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Net income (loss) |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Shareholders’ equity, end of period |
$ | $ | $ | $ | ||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
Six Months Ended June 30, |
||||||||
2020 |
2019 |
|||||||
Cash flow from operating activities |
||||||||
Net income (loss) |
$ | ( |
) | $ | ( |
) | ||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
||||||||
Purchases of short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Proceeds from sales or maturities of short-term U.S. government and agency obligations |
||||||||
Net amortization and accretion on short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Net realized gain (loss) on investments |
( |
) | ( |
) | ||||
Change in unrealized appreciation (depreciation) on investments |
( |
) | ||||||
Decrease (Increase) in receivable on futures contracts |
( |
) | ||||||
Decrease (Increase) in interest receivable |
( |
) | ||||||
Increase (Decrease) in payable to Sponsor |
( |
) | ( |
) | ||||
Increase (Decrease) in payable on futures contracts |
( |
) | ||||||
Net cash provided by (used in) operating activities |
( |
) | ( |
) | ||||
Cash flow from financing activities |
||||||||
Proceeds from addition of shares |
||||||||
Payment on shares redeemed |
( |
) | ( |
) | ||||
Net cash provided by (used in) financing activities |
||||||||
Net increase (decrease) in cash |
||||||||
Cash, beginning of period |
||||||||
Cash, end of period |
$ | $ | ||||||
June 30, 2020 (unaudited) |
December 31, 2019 |
|||||||
Assets |
||||||||
Short-term U.S. government and agency obligations (Note 3) (cost $– and $ |
$ | — | $ | |||||
Cash |
||||||||
Segregated cash balances with brokers for foreign currency forward contracts |
||||||||
Unrealized appreciation on foreign currency forward contracts |
||||||||
Interest receivable |
||||||||
Total assets |
||||||||
Liabilities and shareholders’ equity |
||||||||
Liabilities |
||||||||
Payable to Sponsor |
||||||||
Unrealized depreciation on foreign currency forward contracts |
— | |||||||
Total liabilities |
||||||||
Commitments and Contingencies (Note 2) |
||||||||
Shareholders’ equity |
||||||||
Shareholders’ equity |
||||||||
Total liabilities and shareholders’ equity |
$ | |
$ | |||||
Shares outstanding |
||||||||
Net asset value per share |
$ | $ | ||||||
Market value per share (Note 2) |
$ | $ | ||||||
Settlement Date |
Contract Amount in Local Currency |
Contract Amount in U.S. Dollars |
Unrealized Appreciation (Depreciation)/ Value |
|||||||||||||
Contracts to Purchase |
||||||||||||||||
Euro with Goldman Sachs International |
$ | $ | ||||||||||||||
Euro with UBS AG |
( |
) | ||||||||||||||
| Total Unrealized Depreciation |
|
$ | ( |
) | ||||||||||||
Contracts to Sell |
||||||||||||||||
Euro with UBS AG |
( |
) | $ | ( |
) | $ | ||||||||||
| Total Unrealized Appreciation |
$ | |||||||||||||||
| ^ | The positions and counterparties herein are as of June 30, 2020. The Fund continually evaluates different counterparties for their transactions and counterparties are subject to change. New counterparties can be added at any time. |
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Investment Income |
||||||||||||||||
Interest |
$ | $ | $ | $ | ||||||||||||
Expenses |
||||||||||||||||
Management fee |
||||||||||||||||
Total expenses |
||||||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Realized and unrealized gain (loss) on investment activity |
||||||||||||||||
Net realized gain (loss) on |
||||||||||||||||
Foreign currency forward contracts |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Net realized gain (loss) |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Change in net unrealized appreciation (depreciation) on |
||||||||||||||||
Foreign currency forward contracts |
( |
) | ( |
) | ||||||||||||
Short-term U.S. government and agency obligations |
— | ( |
) | |||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ||||||||||||
Net realized and unrealized gain (loss) |
( |
) | ( |
) | ||||||||||||
Net income (loss) |
$ | $ | $ | ( |
) | $ | ( |
) | ||||||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Shareholders’ equity, beginning of period |
$ | $ | $ | $ | ||||||||||||
Addition of |
— | |||||||||||||||
Redemption of |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Net addition (redemption) of |
( |
) | ( |
) | ( |
) | ||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ||||||||||||
Net income (loss) |
( |
) | ( |
) | ||||||||||||
Shareholders’ equity, end of period |
$ | $ | $ | $ | ||||||||||||
Six Months Ended June 30, |
||||||||
2020 |
2019 |
|||||||
Cash flow from operating activities |
||||||||
Net income (loss) |
$ | ( |
) | $ | ( |
) | ||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
||||||||
Purchases of short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Proceeds from sales or maturities of short-term U.S. government and agency obligations |
||||||||
Net amortization and accretion on short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Change in unrealized appreciation (depreciation) on investments |
||||||||
Decrease (Increase) in interest receivable |
( |
) | ||||||
Increase (Decrease) in payable to Sponsor |
( |
) | ( |
) | ||||
Net cash provided by (used in) operating activities |
||||||||
Cash flow from financing activities |
||||||||
Proceeds from addition of shares |
||||||||
Payment on shares redeemed |
( |
) | ( |
) | ||||
Net cash provided by (used in) financing activities |
( |
) | ( |
) | ||||
Net increase (decrease) in cash |
||||||||
Cash, beginning of period |
||||||||
Cash, end of period |
$ | $ | ||||||
June 30, 2020 (unaudited) |
December 31, 2019 |
|||||||
Assets |
||||||||
Short-term U.S. government and agency obligations (Note 3) (cost $ |
$ | $ | ||||||
Cash |
||||||||
Segregated cash balances with brokers for futures contracts |
||||||||
Segregated cash balances with brokers for swap agreements |
— | |||||||
Unrealized appreciation on swap agreements |
||||||||
Receivable on open futures contracts |
||||||||
Interest receivable |
||||||||
Total assets |
||||||||
Liabilities and shareholders’ equity |
||||||||
Liabilities |
||||||||
Payable to Sponsor |
||||||||
Total liabilities |
||||||||
Commitments and Contingencies (Note 2) |
||||||||
Shareholders’ equity |
||||||||
Shareholders’ equity |
||||||||
Total liabilities and shareholders’ equity |
$ | $ | ||||||
Shares outstanding |
||||||||
Net asset value per share |
$ | $ | ||||||
Market value per share (Note 2) |
$ | $ | ||||||
Principal Amount |
Value | |||
Short-term U.S. government and agency obligations |
||||
( |
||||
U.S. Treasury Bills ^^ : |
||||
| $ |
$ | |||
† |
||||
Total short-term U.S. government and agency obligations |
||||
(cost $ |
$ | |||
Number of Contracts |
Notional Amount at Value |
Unrealized Appreciation (Depreciation)/Value | ||||
Gold Futures—COMEX, expires August 2020 |
$ |
$ |
Total Return Swap Agreements ^ |
||||||||
Rate Paid (Received) * |
Termination Date |
Notional Amount at Value ** |
Unrealized Appreciation (Depreciation)/Value | |||||
Swap agreement with Citibank, N.A. based on Bloomberg Gold Subindex |
$ |
$ | ||||||
Swap agreement with Goldman Sachs International based on Bloomberg Gold Subindex |
||||||||
Swap agreement with UBS AG based on Bloomberg Gold Subindex |
||||||||
| Total Unrealized Appreciation | $ | |||||||
| † | All or partial amount pledged as collateral for swap agreements. |
| ^ | The positions and counterparties herein are as of June 30, 2020. The Fund continually evaluates different counterparties for their transactions and counterparties are subject to change. New counterparties can be added at any time. |
| ^^ |
| * | Reflects the floating financing rate, as of June 30, 2020, on the notional amount of the swap agreement paid to the counterparty or received from the counterparty, excluding any commissions. Total Return Swap Agreements payment is due at termination/maturity. |
| ** | For swap agreements, a positive amount represents “long” exposure to the benchmark index. A negative amount represents “short” exposure to the benchmark index. |
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Investment Income |
||||||||||||||||
Interest |
$ | $ | $ | $ | ||||||||||||
Expenses |
||||||||||||||||
Management fee |
||||||||||||||||
Brokerage commissions |
||||||||||||||||
Brokerage fees |
— | — | ||||||||||||||
Total expenses |
||||||||||||||||
Net investment income (loss) |
( |
( |
||||||||||||||
Realized and unrealized gain (loss) on investment activity |
||||||||||||||||
Net realized gain (loss) on |
||||||||||||||||
Futures contracts |
( |
( |
||||||||||||||
Swap agreements |
||||||||||||||||
Forward agreements |
— | — | — | |||||||||||||
Short-term U.S. government and agency obligations |
— | — | ||||||||||||||
Net realized gain (loss) |
||||||||||||||||
Change in net unrealized appreciation (depreciation) on |
||||||||||||||||
Futures contracts |
||||||||||||||||
Swap agreements |
||||||||||||||||
Forward agreements |
— | — | — | ( |
||||||||||||
Short-term U.S. government and agency obligations |
( |
( |
||||||||||||||
Change in net unrealized appreciation (depreciation) |
||||||||||||||||
Net realized and unrealized gain (loss) |
||||||||||||||||
Net income (loss) |
$ | $ | $ | $ | ||||||||||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Shareholders’ equity, beginning of period |
$ | $ | $ | $ | ||||||||||||
Addition of |
||||||||||||||||
Redemption of |
( |
( |
( |
( |
||||||||||||
Net addition (redemption) of |
( |
|||||||||||||||
Net investment income (loss) |
( |
( |
||||||||||||||
Net realized gain (loss) |
||||||||||||||||
Change in net unrealized appreciation (depreciation) |
||||||||||||||||
Net income (loss) |
||||||||||||||||
Shareholders’ equity, end of period |
$ | $ | $ | $ | ||||||||||||
Six Months Ended June 30, |
||||||||
2020 |
2019 |
|||||||
Cash flow from operating activities |
||||||||
Net income (loss) |
$ | $ | ||||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
||||||||
Purchases of short-term U.S. government and agency obligations |
( |
( |
||||||
Proceeds from sales or maturities of short-term U.S. government and agency obligations |
||||||||
Net amortization and accretion on short-term U.S. government and agency obligations |
( |
( |
||||||
Net realized gain (loss) on investments |
( |
|||||||
Change in unrealized appreciation (depreciation) on investments |
( |
( |
||||||
Decrease (Increase) in receivable on futures contracts |
( |
|||||||
Decrease (Increase) in interest receivable |
( |
|||||||
Increase (Decrease) in payable to Sponsor |
( |
|||||||
Increase (Decrease) in payable on futures contracts |
||||||||
Net cash provided by (used in) operating activities |
( |
( |
||||||
Cash flow from financing activities |
||||||||
Proceeds from addition of shares |
||||||||
Payment on shares redeemed |
( |
( |
||||||
Net cash provided by (used in) financing activities |
( |
|||||||
Net increase (decrease) in cash |
( |
) | ||||||
Cash, beginning of period |
||||||||
Cash, end of period |
$ | $ | ||||||
June 30, 2020 (unaudited) |
December 31, 2019 |
|||||||
Assets |
||||||||
Short-term U.S. government and agency obligations (Note 3) (cost $ |
$ | $ | ||||||
Cash |
||||||||
Segregated cash balances with brokers for futures contracts |
||||||||
Segregated cash balances with brokers for swap agreements |
— | |||||||
Unrealized appreciation on swap agreements |
||||||||
Receivable from capital shares sold |
— | |||||||
Receivable on open futures contracts |
— | |||||||
Interest receivable |
||||||||
Total assets |
||||||||
Liabilities and shareholders’ equity |
||||||||
Liabilities |
||||||||
Payable on open futures contracts |
— | |||||||
Payable to Sponsor |
||||||||
Total liabilities |
||||||||
Commitments and Contingencies (Note 2) |
||||||||
Shareholders’ equity |
||||||||
Shareholders’ equity |
||||||||
Total liabilities and shareholders’ equity |
$ | $ | ||||||
Shares outstanding |
||||||||
Net asset value per share |
$ | $ | ||||||
Market value per share (Note 2) |
$ | $ | ||||||
Principal Amount |
Value | |||
Short-term U.S. government and agency obligations |
||||
( |
||||
U.S. Treasury Bills ^^ : |
||||
† |
$ |
$ | ||
† |
||||
† |
||||
Total short-term U.S. government and agency obligations |
||||
(cost $ |
$ | |||
Number of Contracts |
Notional Amount at Value |
Unrealized Appreciation (Depreciation)/Value | ||||
Silver Futures—COMEX, expires September 2020 |
$ |
$ |
Rate Paid (Received) * |
Termination Date |
Notional Amount at Value ** |
Unrealized Appreciation (Depreciation)/Value | |||||
Swap agreement with Citibank, N.A. based on Bloomberg Silver Subindex |
$ |
$ | ||||||
Swap agreement with Goldman Sachs International based on Bloomberg Silver Subindex |
||||||||
Swap agreement with UBS AG based on Bloomberg Silver Subindex |
||||||||
| Total Unrealized Appreciation | $ | |||||||
| † | All or partial amount pledged as collateral for swap agreements. |
| ^ | The positions and counterparties herein are as of June 30, 2020. The Fund continually evaluates different counterparties for their transactions and counterparties are subject to change. New counterparties can be added at any time. |
| ^^ |
| * | Reflects the floating financing rate, as of June 30, 2020, on the notional amount of the swap agreement paid to the counterparty or received from the counterparty, excluding any commissions. Total Return Swap Agreements payment is due at termination/maturity. |
| ** | For swap agreements, a positive amount represents “long” exposure to the benchmark index. A negative amount represents “short” exposure to the benchmark index. |
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Investment Income |
||||||||||||||||
Interest |
$ | $ | $ | $ | ||||||||||||
Expenses |
||||||||||||||||
Management fee |
||||||||||||||||
Brokerage commissions |
||||||||||||||||
Brokerage fees |
— | |||||||||||||||
Total expenses |
||||||||||||||||
Net investment income (loss) |
( |
( |
||||||||||||||
Realized and unrealized gain (loss) on investment activity |
||||||||||||||||
Net realized gain (loss) on |
||||||||||||||||
Futures contracts |
( |
( |
||||||||||||||
Swap agreements |
( |
( |
( |
( |
||||||||||||
Forward agreements |
— | — | — | |||||||||||||
Short-term U.S. government and agency obligations |
— | — | ||||||||||||||
Net realized gain (loss) |
( |
|||||||||||||||
Change in net unrealized appreciation (depreciation) on |
||||||||||||||||
Futures contracts |
||||||||||||||||
Swap agreements |
( |
|||||||||||||||
Forward agreements |
— | — | — | ( |
||||||||||||
Short-term U.S. government and agency obligations |
( |
( |
||||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
( |
||||||||||||||
Net realized and unrealized gain (loss) |
( |
( |
||||||||||||||
Net income (loss) |
$ | $ | $ | ( |
$ | ( |
||||||||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Shareholders’ equity, beginning of period |
$ | $ | $ | $ | ||||||||||||
Addition of |
||||||||||||||||
Redemption of |
( |
( |
( |
( |
||||||||||||
Net addition (redemption) of |
( |
|||||||||||||||
Net investment income (loss) |
( |
( |
||||||||||||||
Net realized gain (loss) |
( |
|||||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
( |
||||||||||||||
Net income (loss) |
( |
( |
||||||||||||||
Shareholders’ equity, end of period |
$ | $ | $ | $ | ||||||||||||
Six Months Ended June 30, |
||||||||
2020 |
2019 |
|||||||
| Cash flow from operating activities |
||||||||
| Net income (loss) |
$ | ( |
$ | ( |
||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
||||||||
| Purchases of short-term U.S. government and agency obligations |
( |
( |
||||||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations |
||||||||
| Net amortization and accretion on short-term U.S. government and agency obligations |
( |
( |
||||||
| Net realized gain (loss) on investments |
— | ( |
||||||
| Change in unrealized appreciation (depreciation) on investments |
||||||||
| Decrease (Increase) in receivable on futures contracts |
( |
|||||||
| Decrease (Increase) in interest receivable |
( |
|||||||
| Increase (Decrease) in payable to Sponsor |
( |
( |
||||||
| Increase (Decrease) in payable on futures contracts |
( |
|||||||
| |
|
|
|
|||||
| Net cash provided by (used in) operating activities |
( |
|||||||
| |
|
|
|
|||||
| Cash flow from financing activities |
||||||||
| Proceeds from addition of shares |
||||||||
| Payment on shares redeemed |
( |
( |
||||||
| |
|
|
|
|||||
| Net cash provided by (used in) financing activities |
( |
|||||||
| |
|
|
|
|||||
| Net increase (decrease) in cash |
( |
|||||||
| Cash, beginning of period |
||||||||
| |
|
|
|
|||||
| Cash, end of period |
$ | $ | ||||||
| |
|
|
|
|||||
June 30, 2020 (unaudited) |
December 31, 2019 |
|||||||
| Assets |
||||||||
| Short-term U.S. government and agency obligations (Note 3) (cost $ |
$ | $ | ||||||
| Cash |
||||||||
| Segregated cash balances with brokers for futures contracts |
||||||||
| Segregated cash balances with brokers for swap agreements |
||||||||
| Receivable from capital shares sold |
||||||||
| Receivable on open futures contracts |
||||||||
| Interest receivable |
||||||||
| |
|
|
|
|||||
| Total assets |
||||||||
| |
|
|
|
|||||
| Liabilities and shareholders’ equity |
||||||||
| Liabilities |
||||||||
| Payable on open futures contracts |
||||||||
| Brokerage commissions and fees payable |
— | |||||||
| Payable to Sponsor |
||||||||
| Unrealized depreciation on swap agreements |
||||||||
| |
|
|
|
|||||
| Total liabilities |
||||||||
| |
|
|
|
|||||
| Commitments and Contingencies (Note 2) |
||||||||
| Shareholders’ equity |
||||||||
| Shareholders’ equity |
||||||||
| |
|
|
|
|||||
| Total liabilities and shareholders’ equity |
$ | $ | ||||||
| |
|
|
|
|||||
| Shares outstanding |
||||||||
| |
|
|
|
|||||
| Net asset value per share |
$ | $ | ||||||
| |
|
|
|
|||||
| Market value per share (Note 2) |
$ | $ | ||||||
| |
|
|
|
|||||
Principal Amount |
Value |
|||||||
Short-term U.S. government and agency obligations |
||||||||
( |
||||||||
U.S. Treasury Bills ^^ : |
||||||||
| $ | $ | |||||||
Total short-term U.S. government and agency obligations |
||||||||
(cost $ |
$ | |||||||
Number of Contracts |
Notional Amount at Value |
Unrealized Appreciation (Depreciation)/Value |
||||||||||
VIX Futures—Cboe, expires July 2020 |
$ | $ | ||||||||||
VIX Futures—Cboe, expires August 2020 |
( |
) | ||||||||||
| $ | ||||||||||||
Rate Paid (Received) * |
Termination Date |
Notional Amount at Value ** |
Unrealized Appreciation (Depreciation)/Value |
|||||||||||||
Swap agreement with Goldman Sachs & Co. based on iPath Series B S&P 500 VIX Short-Term Futures ETN iNAV Index |
% | $ | $ | ( |
) | |||||||||||
| |
Total Unrealized Depreciation |
|
$ | ( |
) | |||||||||||
| ^ | The positions and counterparties herein are as of June 30, 2020. The Fund continually evaluates different counterparties for their transactions and counterparties are subject to change. New counterparties can be added at any time. |
| ^^ |
| * | Reflects the floating financing rate, as of June 30, 2020, on the notional amount of the swap agreement paid to the counterparty or received from the counterparty, excluding any commissions. Total Return Swap Agreements payment is due at termination/maturity. |
| ** | For swap agreements, a positive amount represents “long” exposure to the benchmark index. A negative amount represents “short” exposure to the benchmark index. |
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Investment Income |
||||||||||||||||
Interest |
$ | $ | $ | $ | ||||||||||||
Expenses |
||||||||||||||||
Management fee |
||||||||||||||||
Brokerage commissions |
||||||||||||||||
Brokerage fees |
— | |||||||||||||||
Non-recurring fees and expenses |
— | — | — | |||||||||||||
Total expenses |
||||||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Realized and unrealized gain (loss) on investment activity |
||||||||||||||||
Net realized gain (loss) on |
||||||||||||||||
Futures contracts |
( |
) | ( |
) | ( |
) | ||||||||||
Swap agreements |
( |
) | ( |
) | ( |
) | ||||||||||
Short-term U.S. government and agency obligations |
— | ( |
) | — | ( |
) | ||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
Change in net unrealized appreciation (depreciation) on |
||||||||||||||||
Futures contracts |
( |
) | ( |
) | ( |
) | ||||||||||
Swap agreements |
( |
) | ( |
) | ( |
) | ||||||||||
Short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ( |
) | ||||||||||
Net realized and unrealized gain (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
Net income (loss) |
$ | ( |
) | $ | ( |
) | $ | $ | ( |
) | ||||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Shareholders’ equity, beginning of period |
$ | $ | $ | $ | ||||||||||||
Addition of |
||||||||||||||||
Redemption of |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Net addition (redemption) of |
( |
) | ||||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ( |
) | ||||||||||
Net income (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
Shareholders’ equity, end of period |
$ | $ | $ | $ | ||||||||||||
Six Months Ended June 30, |
||||||||
2020 |
2019 |
|||||||
Cash flow from operating activities |
||||||||
Net income (loss) |
$ | $ | ( |
) | ||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
||||||||
Purchases of short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Proceeds from sales or maturities of short-term U.S. government and agency obligations |
||||||||
Net amortization and accretion on short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Net realized gain (loss) on investments |
||||||||
Change in unrealized appreciation (depreciation) on investments |
||||||||
Decrease (Increase) in receivable on futures contracts |
( |
) | ( |
) | ||||
Decrease (Increase) in interest receivable |
( |
) | ||||||
Increase (Decrease) in payable to Sponsor |
||||||||
Increase (Decrease) in brokerage commissions and fees payable |
||||||||
Increase (Decrease) in payable on futures contracts |
||||||||
Net cash provided by (used in) operating activities |
( |
) | ||||||
Cash flow from financing activities |
||||||||
Proceeds from addition of shares |
||||||||
Payment on shares redeemed |
( |
) | ( |
) | ||||
Net cash provided by (used in) financing activities |
( |
) | ||||||
Net increase (decrease) in cash |
||||||||
Cash, beginning of period |
||||||||
Cash, end of period |
$ | $ | ||||||
June 30, 2020 (unaudited) |
December 31, 2019 |
|||||||
| Assets |
||||||||
| Short-term U.S. government and agency obligations (Note 3) (cost $– and $ |
$ | — | $ | |||||
| Cash |
||||||||
| Segregated cash balances with brokers for foreign currency forward contracts |
||||||||
| Unrealized appreciation on foreign currency forward contracts |
— | |||||||
| Interest receivable |
||||||||
| |
|
|
|
|||||
| Total assets |
||||||||
| |
|
|
|
|||||
| Liabilities and shareholders’ equity |
||||||||
| Liabilities |
||||||||
| Payable to Sponsor |
||||||||
| Unrealized depreciation on foreign currency forward contracts |
||||||||
| |
|
|
|
|||||
| Total liabilities |
||||||||
| |
|
|
|
|||||
| Commitments and Contingencies (Note 2) |
||||||||
| Shareholders’ equity |
||||||||
| Shareholders’ equity |
||||||||
| |
|
|
|
|||||
| Total liabilities and shareholders’ equity |
$ | $ | ||||||
| |
|
|
|
|||||
| Shares outstanding |
||||||||
| |
|
|
|
|||||
| Net asset value per share |
$ | $ | ||||||
| |
|
|
|
|||||
| Market value per share (Note 2) |
$ | $ | ||||||
| |
|
|
|
|||||
Settlement Date |
Contract Amount in Local Currency |
Contract Amount in U.S. Dollars |
Unrealized Appreciation (Depreciation)/ Value |
|||||||||||||
Contracts to Purchase |
||||||||||||||||
Yen with Goldman Sachs International |
$ | $ | ||||||||||||||
Yen with UBS AG |
||||||||||||||||
| Total Unrealized Appreciation |
|
$ | ||||||||||||||
Contracts to Sell |
||||||||||||||||
Yen with UBS AG |
( |
) | $ | ( |
) | $ | ( |
) | ||||||||
| Total Unrealized Depreciation |
$ | ( |
) | |||||||||||||
| ^ | The positions and counterparties herein are as of June 30, 2020. The Fund continually evaluates different counterparties for their transactions and counterparties are subject to change. New counterparties can be added at any time. |
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Investment Income |
||||||||||||||||
Interest |
$ | $ | $ | $ | ||||||||||||
Expenses |
||||||||||||||||
Management fee |
||||||||||||||||
Total expenses |
||||||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Realized and unrealized gain (loss) on investment activity |
||||||||||||||||
Net realized gain (loss) on |
||||||||||||||||
Foreign currency forward contracts |
( |
) | ( |
) | ||||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) on |
||||||||||||||||
Foreign currency forward contracts |
( |
) | ( |
) | ||||||||||||
Short-term U.S. government and agency obligations |
— | ( |
) | ( |
) | ( |
) | |||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ||||||||||||
Net realized and unrealized gain (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
Net income (loss) |
$ | ( |
) | $ | $ | ( |
) | $ | ( |
) | ||||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Shareholders’ equity, beginning of period |
$ | $ | $ | $ | ||||||||||||
Addition of –, |
— | — | ||||||||||||||
Redemption of –, |
— | ( |
) | ( |
) | ( |
) | |||||||||
Net addition (redemption) of –, –, ( |
— | ( |
) | |||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ||||||||||||
Net income (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
Shareholders’ equity, end of period |
$ | $ | $ | $ | ||||||||||||
Six Months Ended June 30, |
||||||||
2020 |
2019 |
|||||||
Cash flow from operating activities |
||||||||
Net income (loss) |
$ | ( |
) | $ | ( |
) | ||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
||||||||
Purchases of short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Proceeds from sales or maturities of short-term U.S. government and agency obligations |
||||||||
Net amortization and accretion on short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Change in unrealized appreciation (depreciation) on investments |
( |
) | ||||||
Decrease (Increase) in interest receivable |
( |
) | ||||||
Increase (Decrease) in payable to Sponsor |
( |
) | ||||||
Net cash provided by (used in) operating activities |
( |
) | ||||||
Cash flow from financing activities |
||||||||
Proceeds from addition of shares |
||||||||
Payment on shares redeemed |
( |
) | ( |
) | ||||
Net cash provided by (used in) financing activities |
( |
) | ||||||
Net increase (decrease) in cash |
( |
) | ( |
) | ||||
Cash, beginning of period |
||||||||
Cash, end of period |
$ | $ | ||||||
June 30, 2020 (unaudited) |
December 31, 2019 |
|||||||
| Assets |
||||||||
| Short-term U.S. government and agency obligations (Note 3) (cost $– and $ |
$ | — | $ | |||||
| Cash |
||||||||
| Segregated cash balances with brokers for futures contracts |
||||||||
| Interest receivable |
||||||||
| |
|
|
|
|||||
| Total assets |
||||||||
| |
|
|
|
|||||
| Liabilities and shareholders’ equity |
||||||||
| Liabilities |
||||||||
| Payable on open futures contracts |
||||||||
| Payable to Sponsor |
||||||||
| |
|
|
|
|||||
| Total liabilities |
||||||||
| |
|
|
|
|||||
| Commitments and Contingencies (Note 2) |
||||||||
| Shareholders’ equity |
||||||||
| Shareholders’ equity |
||||||||
| |
|
|
|
|||||
| Total liabilities and shareholders’ equity |
$ | $ | ||||||
| |
|
|
|
|||||
| Shares outstanding |
||||||||
| |
|
|
|
|||||
| Net asset value per share |
$ | $ | ||||||
| |
|
|
|
|||||
| Market value per share (Note 2) |
$ | $ | ||||||
| |
|
|
|
|||||
Number of Contracts |
Notional Amount at Value |
Unrealized Appreciation (Depreciation)/Value |
||||||||||
Australian Dollar Fx Currency Futures—CME, expires September 2020 |
$ | $ | ||||||||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Investment Income |
||||||||||||||||
Interest |
$ | $ | $ | $ | ||||||||||||
Expenses |
||||||||||||||||
Management fee |
||||||||||||||||
Brokerage commissions |
||||||||||||||||
Total expenses |
||||||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Realized and unrealized gain (loss) on investment activity |
||||||||||||||||
Net realized gain (loss) on |
||||||||||||||||
Futures contracts |
( |
) | ( |
) | ||||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) on |
||||||||||||||||
Futures contracts |
( |
) | ( |
) | ( |
) | ||||||||||
Short-term U.S. government and agency obligations |
— | ( |
) | |||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ( |
) | ||||||||||
Net realized and unrealized gain (loss) |
( |
) | ( |
) | ||||||||||||
Net income (loss) |
$ | ( |
) | $ | $ | $ | ( |
) | ||||||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Shareholders’ equity, beginning of period |
$ | $ | $ | $ | ||||||||||||
Redemption of –, –, – and |
— | — | — | ( |
) | |||||||||||
Net addition (redemption) of –, –, – and ( |
— | — | — | ( |
) | |||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ( |
) | ||||||||||
Net income (loss) |
( |
) | ( |
) | ||||||||||||
Shareholders’ equity, end of period |
$ | $ | $ | $ | ||||||||||||
Six Months Ended June 30, |
||||||||
2020 |
2019 |
|||||||
Cash flow from operating activities |
||||||||
Net income (loss) |
$ | $ | ( |
) | ||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
||||||||
Purchases of short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Proceeds from sales or maturities of short-term U.S. government and agency obligations |
||||||||
Net amortization and accretion on short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Change in unrealized appreciation (depreciation) on investments |
( |
) | ||||||
Decrease (Increase) in receivable on futures contracts |
||||||||
Decrease (Increase) in interest receivable |
( |
) | ||||||
Increase (Decrease) in payable to Sponsor |
( |
) | ( |
) | ||||
Increase (Decrease) in payable on futures contracts |
||||||||
Net cash provided by (used in) operating activities |
( |
) | ||||||
Cash flow from financing activities |
||||||||
Payment on shares redeemed |
( |
) | ||||||
Net cash provided by (used in) financing activities |
( |
) | ||||||
Net increase (decrease) in cash |
( |
) | ||||||
Cash, beginning of period |
||||||||
Cash, end of period |
$ | $ | ||||||
June 30, 2020 (unaudited) |
December 31, 2019 |
|||||||
Assets |
||||||||
Short-term U.S. government and agency obligations (Note 3) (cost $– and $ |
$ | — | $ | |||||
Cash |
||||||||
Segregated cash balances with brokers for futures contracts |
||||||||
Segregated cash balances with brokers for swap agreements |
||||||||
Receivable from capital shares sold |
||||||||
Receivable on open futures contracts |
||||||||
Interest receivable |
||||||||
Total assets |
||||||||
Liabilities and shareholders’ equity |
||||||||
Liabilities |
||||||||
Payable on open futures contracts |
— | |||||||
Payable to Sponsor |
||||||||
Unrealized depreciation on swap agreements |
||||||||
Total liabilities |
||||||||
Commitments and Contingencies (Note 2) |
||||||||
Shareholders’ equity |
||||||||
Shareholders’ equity |
||||||||
Total liabilities and shareholders’ equity |
$ | $ | ||||||
Shares outstanding |
||||||||
Net asset value per share |
$ | $ | ||||||
Market value per share (Note 2) |
$ | $ | ||||||
Number of Contracts |
Notional Amount at Value |
Unrealized Appreciation (Depreciation)/ Value |
||||||||||
WTI Crude Oil—NYMEX, expires September 2020 |
$ | $ | ||||||||||
WTI Crude Oil—NYMEX, expires October 2020 |
( |
) | ||||||||||
WTI Crude Oil—NYMEX, expires December 2020 |
( |
) | ||||||||||
$( |
||||||||||||
Rate Paid (Received) * |
Termination Date |
Notional Amount at Value ** |
Unrealized Appreciation (Depreciation)/Value |
|||||||||||||
Swap agreement with Goldman Sachs International based on Bloomberg WTI Crude Oil Subindex |
% | $ | ( |
) | $ | ( |
) | |||||||||
| Total Unrealized Depreciation |
$ | ( |
) | |||||||||||||
| ^ | The positions and counterparties herein are as of June 30, 2020. The Fund continually evaluates different counterparties for their transactions and counterparties are subject to change. New counterparties can be added at any time. |
| * | Reflects the floating financing rate, as of June 30, 2020, on the notional amount of the swap agreement paid to the counterparty or received from the counterparty, excluding any commissions. Total Return Swap Agreements payment is due at termination/maturity. |
| ** | For swap agreements, a positive amount represents “long” exposure to the benchmark index. A negative amount represents “short” exposure to the benchmark index. |
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Investment Income |
||||||||||||||||
Interest |
$ | $ | $ | $ | ||||||||||||
Expenses |
||||||||||||||||
Management fee |
||||||||||||||||
Brokerage commissions |
||||||||||||||||
Brokerage fees |
— | — | ||||||||||||||
Total expenses |
||||||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Realized and unrealized gain (loss) on investment activity |
||||||||||||||||
Net realized gain (loss) on |
||||||||||||||||
Futures contracts |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Swap agreements |
( |
) | ||||||||||||||
Short-term U.S. government and agency obligations |
— | ( |
) | |||||||||||||
Net realized gain (loss) |
( |
) | ||||||||||||||
Change in net unrealized appreciation (depreciation) on |
||||||||||||||||
Futures contracts |
( |
) | ( |
) | ( |
) | ||||||||||
Swap agreements |
( |
) | ( |
) | ( |
) | ||||||||||
Short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ( |
) | ||||||||||
Net realized and unrealized gain (loss) |
( |
) | ( |
) | ||||||||||||
Net income (loss) |
$ | ( |
) | $ | $ | $ | ( |
) | ||||||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Shareholders’ equity, beginning of period |
$ | $ | $ | $ | ||||||||||||
Addition of |
||||||||||||||||
Redemption of |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Net addition (redemption) of |
( |
) | ( |
) | ( |
) | ||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Net realized gain (loss) |
( |
) | ||||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ( |
) | ||||||||||
Net income (loss) |
( |
) | ( |
) | ||||||||||||
Shareholders’ equity, end of period |
$ | $ | $ | $ | ||||||||||||
Six Months Ended June 30, |
||||||||
2020 |
2019 |
|||||||
Cash flow from operating activities |
||||||||
Net income (loss) |
$ | $ | ( |
) | ||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
||||||||
Purchases of short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Proceeds from sales or maturities of short-term U.S. government and agency obligations |
||||||||
Net amortization and accretion on short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Net realized gain (loss) on investments |
( |
) | ||||||
Change in unrealized appreciation (depreciation) on investments |
( |
) | ||||||
Decrease (Increase) in receivable on futures contracts |
( |
) | ||||||
Decrease (Increase) in interest receivable |
( |
) | ||||||
Increase (Decrease) in payable to Sponsor |
( |
) | ( |
) | ||||
Increase (Decrease) in payable on futures contracts |
||||||||
Increase (Decrease) in securities purchased payable |
||||||||
Net cash provided by (used in) operating activities |
( |
) | ||||||
Cash flow from financing activities |
||||||||
Proceeds from addition of shares |
||||||||
Payment on shares redeemed |
( |
) | ( |
) | ||||
Net cash provided by (used in) financing activities |
( |
) | ||||||
Net increase (decrease) in cash |
||||||||
Cash, beginning of period |
||||||||
Cash, end of period |
$ | $ | ||||||
June 30, 2020 (unaudited) |
December 31, 2019 |
|||||||
Assets |
||||||||
Short-term U.S. government and agency obligations (Note 3) (cost $ |
$ | $ | ||||||
Cash |
||||||||
Segregated cash balances with brokers for futures contracts |
||||||||
Receivable from capital shares sold |
— | |||||||
Interest receivable |
||||||||
Total assets |
||||||||
Liabilities and shareholders’ equity |
||||||||
Liabilities |
||||||||
Payable on open futures contracts |
||||||||
Payable to Sponsor |
||||||||
Total liabilities |
||||||||
Commitments and Contingencies (Note 2) |
||||||||
Shareholders’ equity |
||||||||
Shareholders’ equity |
||||||||
Total liabilities and shareholders’ equity |
$ | $ | ||||||
Shares outstanding |
||||||||
Net asset value per share |
$ | $ | ||||||
Market value per share (Note 2) |
$ | $ | ||||||
Principal Amount |
Value |
|||||||
Short-term U.S. government and agency obligations |
||||||||
( |
||||||||
U.S. Treasury Bills ^^ : |
||||||||
| $ | $ | |||||||
Total short-term U.S. government and agency obligations |
||||||||
(cost $ |
$ | |||||||
Number of Contracts |
Notional Amount at Value |
Unrealized Appreciation (Depreciation)/Value |
||||||||||
Natural Gas—NYMEX, expires September 2020 |
$ | $ | ||||||||||
| ^^ |
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Investment Income |
||||||||||||||||
Interest |
$ | $ | $ | $ | ||||||||||||
Expenses |
||||||||||||||||
Management fee |
||||||||||||||||
Brokerage commissions |
||||||||||||||||
Brokerage fees |
— | — | ||||||||||||||
Total expenses |
||||||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Realized and unrealized gain (loss) on investment activity |
||||||||||||||||
Net realized gain (loss) on |
||||||||||||||||
Futures contracts |
||||||||||||||||
Short-term U.S. government and agency obligations |
( |
) | — | ( |
) | — | ||||||||||
Net realized gain (loss) |
||||||||||||||||
Change in net unrealized appreciation (depreciation) on |
||||||||||||||||
Futures contracts |
( |
) | ( |
) | ( |
) | ||||||||||
Short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ( |
) | ||||||||||
Net realized and unrealized gain (loss) |
||||||||||||||||
Net income (loss) |
$ | $ | $ | $ | ||||||||||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Shareholders’ equity, beginning of period |
$ | $ | $ | $ | ||||||||||||
Addition of |
||||||||||||||||
Redemption of |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Net addition (redemption) of |
( |
) | ( |
) | ||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Net realized gain (loss) |
||||||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ( |
) | ||||||||||
Net income (loss) |
||||||||||||||||
Shareholders’ equity, end of period |
$ | $ | $ | $ | ||||||||||||
Six Months Ended June 30, |
||||||||
2020 |
2019 |
|||||||
Cash flow from operating activities |
||||||||
Net income (loss) |
$ | $ | ||||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
||||||||
Purchases of short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Proceeds from sales or maturities of short-term U.S. government and agency obligations |
||||||||
Net amortization and accretion on short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Net realized gain (loss) on investments |
||||||||
Change in unrealized appreciation (depreciation) on investments |
( |
) | ||||||
Decrease (Increase) in receivable on futures contracts |
||||||||
Decrease (Increase) in interest receivable |
||||||||
Increase (Decrease) in payable to Sponsor |
( |
) | ||||||
Increase (Decrease) in payable on futures contracts |
||||||||
Net cash provided by (used in) operating activities |
||||||||
Cash flow from financing activities |
||||||||
Proceeds from addition of shares |
||||||||
Payment on shares redeemed |
( |
) | ( |
) | ||||
Net cash provided by (used in) financing activities |
( |
) | ||||||
Net increase (decrease) in cash |
( |
) | ||||||
Cash, beginning of period |
||||||||
Cash, end of period |
$ | $ | ||||||
June 30, 2020 (unaudited) |
December 31, 2019 |
|||||||
Assets |
||||||||
Short-term U.S. government and agency obligations (Note 3) (cost $ |
$ | $ | ||||||
Cash |
||||||||
Unrealized appreciation on foreign currency forward contracts |
— | |||||||
Interest receivable |
||||||||
Total assets |
||||||||
Liabilities and shareholders’ equity |
||||||||
Liabilities |
||||||||
Payable to Sponsor |
||||||||
Unrealized depreciation on foreign currency forward contracts |
||||||||
Total liabilities |
||||||||
Commitments and Contingencies (Note 2) |
||||||||
Shareholders’ equity |
||||||||
Shareholders’ equity |
||||||||
Total liabilities and shareholders’ equity |
$ | $ | ||||||
Shares outstanding |
||||||||
Net asset value per share |
$ | $ | ||||||
Market value per share (Note 2) |
$ | $ | ||||||
Principal Amount |
Value |
|||||||
Short-term U.S. government and agency obligations |
||||||||
( |
||||||||
U.S. Treasury Bills ^^ : |
||||||||
† |
$ | $ | ||||||
† |
||||||||
Total short-term U.S. government and agency obligations |
||||||||
(cost $ |
$ | |||||||
Settlement Date |
Contract Amount in Local Currency |
Contract Amount in U.S. Dollars |
Unrealized Appreciation (Depreciation)/ Value |
|||||||||||||
Contracts to Purchase |
||||||||||||||||
Euro with UBS AG |
$ | $ | ( |
) | ||||||||||||
| $ | ( |
) | ||||||||||||||
Contracts to Sell |
||||||||||||||||
Euro with Goldman Sachs International |
( |
) | $ | ( |
) | $ | ( |
) | ||||||||
Euro with UBS AG |
( |
) | ( |
) | ( |
) | ||||||||||
| $ | ( |
) | ||||||||||||||
| |
Total Net Unrealized Depreciation |
|
$ | ( |
) | |||||||||||
| † | All or partial amount pledged as collateral for foreign currency forward contracts. |
| ^ | The positions and counterparties herein are as of June 30, 2020. The Fund continually evaluates different counterparties for their transactions and counterparties are subject to change. New counterparties can be added at any time. |
| ^^ |
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Investment Income |
||||||||||||||||
Interest |
$ | $ | $ | $ | ||||||||||||
Expenses |
||||||||||||||||
Management fee |
||||||||||||||||
Total expenses |
||||||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Realized and unrealized gain (loss) on investment activity |
||||||||||||||||
Net realized gain (loss) on |
||||||||||||||||
Foreign currency forward contracts |
( |
) | ( |
) | ||||||||||||
Short-term U.S. government and agency obligations |
— | ( |
) | — | ( |
) | ||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) on |
||||||||||||||||
Foreign currency forward contracts |
( |
) | ( |
) | ||||||||||||
Short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ||||||||||||
Net realized and unrealized gain (loss) |
( |
) | ( |
) | ||||||||||||
Net income (loss) |
$ | ( |
) | $ | ( |
) | $ | $ | ||||||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Shareholders’ equity, beginning of period |
$ | $ | $ | $ | ||||||||||||
Addition of |
||||||||||||||||
Redemption of |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Net addition (redemption) of ( |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ||||||||||||
Net income (loss) |
( |
) | ( |
) | ||||||||||||
Shareholders’ equity, end of period |
$ | $ | $ | $ | ||||||||||||
Six Months Ended June 30, |
||||||||
2020 |
2019 |
|||||||
Cash flow from operating activities |
||||||||
Net income (loss) |
$ | $ | ||||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
||||||||
Purchases of short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Proceeds from sales or maturities of short-term U.S. government and agency obligations |
||||||||
Net amortization and accretion on short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Net realized gain (loss) on investments |
||||||||
Change in unrealized appreciation (depreciation) on investments |
( |
) | ( |
) | ||||
Decrease (Increase) in interest receivable |
( |
) | ||||||
Increase (Decrease) in payable to Sponsor |
( |
) | ( |
) | ||||
Net cash provided by (used in) operating activities |
||||||||
Cash flow from financing activities |
||||||||
Proceeds from addition of shares |
||||||||
Payment on shares redeemed |
( |
) | ( |
) | ||||
Net cash provided by (used in) financing activities |
( |
) | ( |
) | ||||
Net increase (decrease) in cash |
( |
) | ( |
) | ||||
Cash, beginning of period |
||||||||
Cash, end of period |
$ | $ | ||||||
June 30, 2020 (unaudited) |
December 31, 2019 |
|||||||
Assets |
||||||||
Short-term U.S. government and agency obligations (Note 3) (cost $ |
$ | $ | ||||||
Cash |
||||||||
Segregated cash balances with brokers for futures contracts |
||||||||
Segregated cash balances with brokers for swap agreements |
||||||||
Receivable on open futures contracts |
— | |||||||
Interest receivable |
||||||||
Total assets |
||||||||
Liabilities and shareholders’ equity |
||||||||
Liabilities |
||||||||
Payable on open futures contracts |
||||||||
Payable to Sponsor |
||||||||
Unrealized depreciation on swap agreements |
||||||||
Total liabilities |
||||||||
Commitments and Contingencies (Note 2) |
||||||||
Shareholders’ equity |
||||||||
Shareholders’ equity |
||||||||
Total liabilities and shareholders’ equity |
$ | $ | ||||||
Shares outstanding |
||||||||
Net asset value per share |
$ | $ | ||||||
Market value per share (Note 2) |
$ | $ | ||||||
Principal Amount |
Value |
|||||||
Short-term U.S. government and agency obligations |
||||||||
( |
||||||||
U.S. Treasury Bills ^^ : |
||||||||
| $ | $ | |||||||
Total short-term U.S. government and agency obligations |
||||||||
(cost $ |
$ | |||||||
Number of Contracts |
Notional Amount at Value |
Unrealized Appreciation (Depreciation)/Value |
||||||||||
Gold Futures—COMEX, expires August 2020 |
$ | $ | ( |
) | ||||||||
Rate Paid (Received) * |
Termination Date |
Notional Amount at Value ** |
Unrealized Appreciation (Depreciation)/Value |
|||||||||||||
Swap agreement with Citibank, N.A. based on Bloomberg Gold Subindex |
% | $ | ( |
) | $ | ( |
) | |||||||||
Swap agreement with Goldman Sachs International based on Bloomberg Gold Subindex |
( |
) | ( |
) | ||||||||||||
Swap agreement with UBS AG based on Bloomberg Gold Subindex |
( |
) | ( |
) | ||||||||||||
| Total Unrealized Depreciation |
$ | ( |
) | |||||||||||||
| ^ | The positions and counterparties herein are as of June 30, 2020. The Fund continually evaluates different counterparties for their transactions and counterparties are subject to change. New counterparties can be added at any time. |
| ^^ |
| * | Reflects the floating financing rate, as of June 30, 2020, on the notional amount of the swap agreement paid to the counterparty or received from the counterparty, excluding any commissions. Total Return Swap Agreements payment is due at termination/maturity. |
| ** | For swap agreements, a positive amount represents “long” exposure to the benchmark index. A negative amount represents “short” exposure to the benchmark index. |
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Investment Income |
||||||||||||||||
Interest |
$ | $ | $ | $ | ||||||||||||
Expenses |
||||||||||||||||
Management fee |
||||||||||||||||
Brokerage commissions |
||||||||||||||||
Brokerage fees |
— | — | ||||||||||||||
Total expenses |
||||||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Realized and unrealized gain (loss) on investment activity |
||||||||||||||||
Net realized gain (loss) on |
||||||||||||||||
Futures contracts |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Swap agreements |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Forward agreements |
— | — | — | ( |
) | |||||||||||
Short-term U.S. government and agency obligations |
— | — | ||||||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Change in net unrealized appreciation (depreciation) on |
||||||||||||||||
Futures contracts |
( |
) | ( |
) | ( |
) | ||||||||||
Swap agreements |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Forward agreements |
— | — | — | |||||||||||||
Short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ( |
) | ||||||||||
Net realized and unrealized gain (loss) |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Net income (loss) |
$ | ( |
) | $ | ( |
) | $ | ( |
) | $ | ( |
) | ||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Shareholders’ equity, beginning of period |
$ | $ | $ | $ | ||||||||||||
Addition of |
||||||||||||||||
Redemption of |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Net addition (redemption) of –, –, |
( |
) | ||||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ( |
) | ||||||||||
Net income (loss) |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Shareholders’ equity, end of period |
$ | $ | $ | $ | ||||||||||||
Six Months Ended June 30, |
||||||||
2020 |
2019 |
|||||||
Cash flow from operating activities |
||||||||
Net income (loss) |
$ | ( |
) | $ | ( |
) | ||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
||||||||
Purchases of short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Proceeds from sales or maturities of short-term U.S. government and agency obligations |
||||||||
Net amortization and accretion on short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Net realized gain (loss) on investments |
( |
) | ||||||
Change in unrealized appreciation (depreciation) on investments |
||||||||
Decrease (Increase) in receivable on futures contracts |
( |
) | ||||||
Decrease (Increase) in interest receivable |
||||||||
Increase (Decrease) in payable to Sponsor |
( |
) | ( |
) | ||||
Increase (Decrease) in payable on futures contracts |
||||||||
Net cash provided by (used in) operating activities |
( |
) | ( |
) | ||||
Cash flow from financing activities |
||||||||
Proceeds from addition of shares |
||||||||
Payment on shares redeemed |
( |
) | ( |
) | ||||
Net cash provided by (used in) financing activities |
||||||||
Net increase (decrease) in cash |
( |
) | ( |
) | ||||
Cash, beginning of period |
||||||||
Cash, end of period |
$ | $ | ||||||
June 30, 2020 (unaudited) |
December 31, 2019 |
|||||||
Assets |
||||||||
Short-term U.S. government and agency obligations (Note 3) (cost $– and $ |
$ | — | $ | |||||
Cash |
||||||||
Segregated cash balances with brokers for futures contracts |
||||||||
Segregated cash balances with brokers for swap agreements |
||||||||
Receivable on open futures contracts |
||||||||
Interest receivable |
||||||||
Total assets |
||||||||
Liabilities and shareholders’ equity |
||||||||
Liabilities |
||||||||
Payable on open futures contracts |
||||||||
Payable to Sponsor |
||||||||
Unrealized depreciation on swap agreements |
||||||||
Total liabilities |
||||||||
Commitments and Contingencies (Note 2) |
||||||||
Shareholders’ equity |
||||||||
Shareholders’ equity |
||||||||
Total liabilities and shareholders’ equity |
$ | $ | ||||||
Shares outstanding |
||||||||
Net asset value per share |
$ | $ | ||||||
Market value per share (Note 2) |
$ | $ | ||||||
Number of Contracts |
Notional Amount at Value |
Unrealized Appreciation (Depreciation)/Value |
||||||||||
Silver Futures—COMEX, expires September 2020 |
$ | $ | ( |
) | ||||||||
Rate Paid (Received) * |
Termination Date |
Notional Amount at Value ** |
Unrealized Appreciation (Depreciation)/Value |
|||||||||||||
Swap agreement with Citibank, N.A. based on Bloomberg Silver Subindex |
% | $ | ( |
) | $ | ( |
) | |||||||||
Swap agreement with Goldman Sachs International based on Bloomberg Silver Subindex |
( |
) | ( |
) | ||||||||||||
Swap agreement with UBS AG based on Bloomberg Silver Subindex |
( |
) | ( |
) | ||||||||||||
| Total Unrealized Depreciation |
$ | ( |
) | |||||||||||||
| ^ | The positions and counterparties herein are as of June 30, 2020. The Fund continually evaluates different counterparties for their transactions and counterparties are subject to change. New counterparties can be added at any time. |
| * | Reflects the floating financing rate, as of June 30, 2020, on the notional amount of the swap agreement paid to the counterparty or received from the counterparty, excluding any commissions. Total Return Swap Agreements payment is due at termination/maturity. |
| ** | For swap agreements, a positive amount represents “long” exposure to the benchmark index. A negative amount represents “short” exposure to the benchmark index. |
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Investment Income |
||||||||||||||||
Interest |
$ | $ | $ | $ | ||||||||||||
Expenses |
||||||||||||||||
Management fee |
||||||||||||||||
Brokerage commissions |
||||||||||||||||
Brokerage fees |
— | — | ||||||||||||||
Total expenses |
||||||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Realized and unrealized gain (loss) on investment activity |
||||||||||||||||
Net realized gain (loss) on |
||||||||||||||||
Futures contracts |
( |
) | ||||||||||||||
Swap agreements |
( |
) | ( |
) | ||||||||||||
Forward agreements |
— | — | — | ( |
) | |||||||||||
Short-term U.S. government and agency obligations |
— | — | ||||||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
Change in net unrealized appreciation (depreciation) on |
||||||||||||||||
Futures contracts |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Swap agreements |
( |
) | ( |
) | ( |
) | ||||||||||
Forward agreements |
— | — | — | |||||||||||||
Short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ||||||||||||
Net realized and unrealized gain (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
Net income (loss) |
$ | ( |
) | $ | ( |
) | $ | ( |
) | $ | ||||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Shareholders’ equity, beginning of period |
$ | $ | $ | $ | ||||||||||||
Addition of |
||||||||||||||||
Redemption of |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Net addition (redemption) of –, ( |
( |
) | ( |
) | ( |
) | ||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ||||||||||||
Net income (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
Shareholders’ equity, end of period |
$ | $ | $ | $ | ||||||||||||
Six Months Ended June 30, |
||||||||
2020 |
2019 |
|||||||
Cash flow from operating activities |
||||||||
Net income (loss) |
$ | ( |
) | $ | ||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
||||||||
Purchases of short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Proceeds from sales or maturities of short-term U.S. government and agency obligations |
||||||||
Net amortization and accretion on short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Net realized gain (loss) on investments |
( |
) | ||||||
Change in unrealized appreciation (depreciation) on investments |
( |
) | ( |
) | ||||
Decrease (Increase) in receivable on futures contracts |
( |
) | ||||||
Decrease (Increase) in interest receivable |
||||||||
Increase (Decrease) in payable to Sponsor |
( |
) | ||||||
Increase (Decrease) in payable on futures contracts |
||||||||
Net cash provided by (used in) operating activities |
( |
) | ||||||
Cash flow from financing activities |
||||||||
Proceeds from addition of shares |
||||||||
Payment on shares redeemed |
( |
) | ( |
) | ||||
Net cash provided by (used in) financing activities |
( |
) | ||||||
Net increase (decrease) in cash |
( |
) | ||||||
Cash, beginning of period |
||||||||
Cash, end of period |
$ | $ | ||||||
June 30, 2020 (unaudited) |
December 31, 2019 |
|||||||
Assets |
||||||||
Short-term U.S. government and agency obligations (Note 3) (cost $ |
$ | $ | ||||||
Cash |
||||||||
Segregated cash balances with brokers for foreign currency forward contracts |
— | |||||||
Unrealized appreciation on foreign currency forward contracts |
— | |||||||
Interest receivable |
||||||||
Total assets |
||||||||
Liabilities and shareholders’ equity |
||||||||
Liabilities |
||||||||
Payable to Sponsor |
||||||||
Unrealized depreciation on foreign currency forward contracts |
— | |||||||
Total liabilities |
||||||||
Commitments and Contingencies (Note 2) |
||||||||
Shareholders’ equity |
||||||||
Shareholders’ equity |
||||||||
Total liabilities and shareholders’ equity |
$ | $ | ||||||
Shares outstanding |
||||||||
Net asset value per share |
$ | $ | ||||||
Market value per share (Note 2) |
$ | $ | ||||||
Principal Amount |
Value |
|||||||
Short-term U.S. government and agency obligations |
||||||||
( |
||||||||
U.S. Treasury Bills ^^ : |
||||||||
| $ | $ | |||||||
† |
||||||||
Total short-term U.S. government and agency obligations |
||||||||
(cost $ |
$ | |||||||
Foreign Currency Forward Contracts ^ |
||||||||||||||||
Settlement Date |
Contract Amount in Local Currency |
Contract Amount in U.S. Dollars |
Unrealized Appreciation (Depreciation)/ Value |
|||||||||||||
Contracts to Purchase |
||||||||||||||||
Yen with UBS AG |
$ | $ | ( |
) | ||||||||||||
| $( |
||||||||||||||||
Contracts to Sell |
||||||||||||||||
Yen with Goldman Sachs International |
( |
) | $ | ( |
) | $ | ( |
) | ||||||||
Yen with UBS AG |
( |
) | ( |
) | ( |
) | ||||||||||
| $( |
||||||||||||||||
| Total Net Unrealized Depreciation |
$( |
|||||||||||||||
| † | All or partial amount pledged as collateral for foreign currency forward contracts. |
| ^ | The positions and counterparties herein are as of June 30, 2020. The Fund continually evaluates different counterparties for their transactions and counterparties are subject to change. New counterparties can be added at any time. |
| ^^ |
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Investment Income |
||||||||||||||||
Interest |
$ | $ | $ | $ | ||||||||||||
Expenses |
||||||||||||||||
Management fee |
||||||||||||||||
Total expenses |
||||||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Realized and unrealized gain (loss) on investment activity |
||||||||||||||||
Net realized gain (loss) on |
||||||||||||||||
Foreign currency forward contracts |
( |
) | ( |
) | ( |
) | ||||||||||
Short-term U.S. government and agency obligations |
– | – | – | ( |
) | |||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
Change in net unrealized appreciation (depreciation) on |
||||||||||||||||
Foreign currency forward contracts |
( |
) | ||||||||||||||
Short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ||||||||||||||
Net realized and unrealized gain (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
Net income (loss) |
$ | $ | ( |
) | $ | ( |
) | $ | ||||||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Shareholders’ equity, beginning of period |
$ | $ | $ | $ | ||||||||||||
Addition of |
||||||||||||||||
Redemption of |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Net addition (redemption) of |
( |
) | ( |
) | ||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ||||||||||||||
Net income (loss) |
( |
) | ( |
) | ||||||||||||
Shareholders’ equity, end of period |
$ | $ | $ | $ | ||||||||||||
Six Months Ended June 30, |
||||||||
2020 |
2019 |
|||||||
Cash flow from operating activities |
||||||||
Net income (loss) |
$ | ( |
) | $ | ||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
||||||||
Purchases of short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Proceeds from sales or maturities of short-term U.S. government and agency obligations |
||||||||
Net amortization and accretion on short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Net realized gain (loss) on investments |
||||||||
Change in unrealized appreciation (depreciation) on investments |
( |
) | ||||||
Decrease (Increase) in interest receivable |
( |
) | ||||||
Increase (Decrease) in payable to Sponsor |
( |
) | ( |
) | ||||
Net cash provided by (used in) operating activities |
( |
) | ||||||
Cash flow from financing activities |
||||||||
Proceeds from addition of shares |
||||||||
Payment on shares redeemed |
( |
) | ( |
) | ||||
Net cash provided by (used in) financing activities |
( |
) | ( |
) | ||||
Net increase (decrease) in cash |
( |
) | ( |
) | ||||
Cash, beginning of period |
||||||||
Cash, end of period |
$ | $ | ||||||
June 30, 2020 (unaudited) |
December 31, 2019 |
|||||||
| Assets |
||||||||
| Short-term U.S. government and agency obligations (Note 3) (cost $ |
$ | $ | ||||||
| Cash |
||||||||
| Segregated cash balances with brokers for futures contracts |
||||||||
| Interest receivable |
||||||||
| |
|
|
|
|||||
| Total assets |
||||||||
| |
|
|
|
|||||
| Liabilities and shareholders’ equity |
||||||||
| Liabilities |
||||||||
| Payable on open futures contracts |
||||||||
| Brokerage commissions and fees payable |
– | |||||||
| Payable to Sponsor |
||||||||
| |
|
|
|
|||||
| Total liabilities |
||||||||
| |
|
|
|
|||||
| Commitments and Contingencies (Note 2) |
||||||||
| Shareholders’ equity |
||||||||
| Shareholders’ equity |
||||||||
| |
|
|
|
|||||
| Total liabilities and shareholders’ equity |
$ | $ | ||||||
| |
|
|
|
|||||
| Shares outstanding |
||||||||
| |
|
|
|
|||||
| Net asset value per share |
$ | $ | ||||||
| |
|
|
|
|||||
| Market value per share (Note 2) |
$ | $ | ||||||
| |
|
|
|
|||||
Principal Amount |
Value |
|||||||
| Short-term U.S. government and agency obligations |
||||||||
| ( |
||||||||
| U.S. Treasury Bills ^^ : |
||||||||
| |
$ | $ | ||||||
| |
||||||||
| |
|
|||||||
| Total short-term U.S. government and agency obligations |
||||||||
| (cost $ |
$ | |||||||
| |
|
|||||||
| Futures Contracts Purchased |
||||||||||||
Number of Contracts |
Notional Amount at Value |
Unrealized Appreciation (Depreciation)/Value |
||||||||||
| VIX Futures - Cboe, expires October 2020 |
$ | $ | ||||||||||
| VIX Futures - Cboe, expires November 2020 |
||||||||||||
| VIX Futures - Cboe, expires December 2020 |
||||||||||||
| VIX Futures - Cboe, expires January 2021 |
( |
) | ||||||||||
| |
|
|||||||||||
| $ |
||||||||||||
| |
|
|||||||||||
| ^^ | |
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Investment Income |
||||||||||||||||
Interest |
$ | $ | $ | $ | ||||||||||||
Expenses |
||||||||||||||||
Management fee |
||||||||||||||||
Brokerage commissions |
||||||||||||||||
Brokerage fees |
– | – | ||||||||||||||
Total expenses |
||||||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Realized and unrealized gain (loss) on investment activity |
||||||||||||||||
Net realized gain (loss) on |
||||||||||||||||
Futures contracts |
( |
) | ( |
) | ||||||||||||
Short-term U.S. government and agency obligations |
– | – | ||||||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) on |
||||||||||||||||
Futures contracts |
( |
) | ( |
) | ||||||||||||
Short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ||||||||||||
Net realized and unrealized gain (loss) |
( |
) | ( |
) | ||||||||||||
Net income (loss) |
$ | $ | ( |
) | $ | $ | ( |
) | ||||||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Shareholders’ equity, beginning of period |
$ | $ | $ | $ | ||||||||||||
Addition of |
||||||||||||||||
Redemption of |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Net addition (redemption) of |
( |
) | ( |
) | ( |
) | ||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ||||||||||||
Net income (loss) |
( |
) | ( |
) | ||||||||||||
Shareholders’ equity, end of period |
$ | $ | $ | $ | ||||||||||||
Six Months Ended June 30, |
||||||||
2020 |
2019 |
|||||||
Cash flow from operating activities |
||||||||
Net income (loss) |
$ | $ | ( |
) | ||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
||||||||
Purchases of short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Proceeds from sales or maturities of short-term U.S. government and agency obligations |
||||||||
Net amortization and accretion on short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Net realized gain (loss) on investments |
( |
) | ||||||
Change in unrealized appreciation (depreciation) on investments |
( |
) | ||||||
Decrease (Increase) in interest receivable |
||||||||
Increase (Decrease) in payable to Sponsor |
( |
) | ||||||
Increase (Decrease) in brokerage commissions and fees payable |
||||||||
Increase (Decrease) in payable on futures contracts |
||||||||
Net cash provided by (used in) operating activities |
( |
) | ||||||
Cash flow from financing activities |
||||||||
Proceeds from addition of shares |
||||||||
Payment on shares redeemed |
( |
) | ( |
) | ||||
Net cash provided by (used in) financing activities |
( |
) | ( |
) | ||||
Net increase (decrease) in cash |
( |
) | ( |
) | ||||
Cash, beginning of period |
||||||||
Cash, end of period |
$ | $ | ||||||
June 30, 2020 (unaudited) |
December 31, 2019 |
|||||||
| Assets |
||||||||
| Short-term U.S. government and agency obligations (Note 3) (cost $ |
$ | $ | ||||||
| Cash |
||||||||
| Segregated cash balances with brokers for futures contracts |
||||||||
| Receivable on open futures contracts |
– | |||||||
| Interest receivable |
||||||||
| |
|
|
|
|||||
| Total assets |
||||||||
| |
|
|
|
|||||
| Liabilities and shareholders’ equity |
||||||||
| Liabilities |
||||||||
| Payable on open futures contracts |
||||||||
| Brokerage commissions and fees payable |
– | |||||||
| Payable to Sponsor |
||||||||
| |
|
|
|
|||||
| Total liabilities |
||||||||
| |
|
|
|
|||||
| Commitments and Contingencies (Note 2) |
||||||||
| Shareholders’ equity |
||||||||
| Shareholders’ equity |
||||||||
| |
|
|
|
|||||
| Total liabilities and shareholders’ equity |
$ | $ | ||||||
| |
|
|
|
|||||
| Shares outstanding |
||||||||
| |
|
|
|
|||||
| Net asset value per share |
$ | $ | ||||||
| |
|
|
|
|||||
| Market value per share (Note 2) |
$ | $ | ||||||
| |
|
|
|
|||||
Principal Amount |
Value |
|||||||
| Short-term U.S. government and agency obligations |
||||||||
| ( |
||||||||
| U.S. Treasury Bills ^^ : |
||||||||
| |
$ | $ | ||||||
| |
||||||||
| |
|
|||||||
| Total short-term U.S. government and agency obligations |
||||||||
| (cost $ |
$ | |||||||
| |
|
|||||||
| Futures Contracts Purchased |
||||||||||||
Number of Contracts |
Notional Amount at Value |
Unrealized Appreciation (Depreciation)/Value |
||||||||||
| VIX Futures - Cboe, expires July 2020 |
$ | $ | ||||||||||
| VIX Futures - Cboe, expires August 2020 |
( |
) | ||||||||||
| |
|
|||||||||||
| $ |
||||||||||||
| |
|
|||||||||||
| ^^ | |
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Investment Income |
||||||||||||||||
Interest |
$ | $ | $ | $ | ||||||||||||
Expenses |
||||||||||||||||
Management fee |
||||||||||||||||
Brokerage commissions |
||||||||||||||||
Brokerage fees |
||||||||||||||||
Total expenses |
||||||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Realized and unrealized gain (loss) on investment activity |
||||||||||||||||
Net realized gain (loss) on |
||||||||||||||||
Futures contracts |
( |
) | ( |
) | ( |
) | ||||||||||
Short-term U.S. government and agency obligations |
– | – | ||||||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
Change in net unrealized appreciation (depreciation) on |
||||||||||||||||
Futures contracts |
( |
) | ( |
) | ( |
) | ||||||||||
Short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ( |
) | ||||||||||
Net realized and unrealized gain (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
Net income (loss) |
$ | ( |
) | $ | ( |
) | $ | $ | ( |
) | ||||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
Shareholders’ equity, beginning of period |
$ | $ | $ | $ | ||||||||||||
Addition of |
||||||||||||||||
Redemption of |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Net addition (redemption) of |
( |
) | ||||||||||||||
Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
Net realized gain (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
Change in net unrealized appreciation (depreciation) |
( |
) | ( |
) | ( |
) | ||||||||||
Net income (loss) |
( |
) | ( |
) | ( |
) | ||||||||||
Shareholders’ equity, end of period |
$ | $ | $ | $ | ||||||||||||
Six Months Ended June 30, |
||||||||
2020 |
2019 |
|||||||
Cash flow from operating activities |
||||||||
Net income (loss) |
$ | $ | ( |
) | ||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
||||||||
Purchases of short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Proceeds from sales or maturities of short-term U.S. government and agency obligations |
||||||||
Net amortization and accretion on short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
Net realized gain (loss) on investments |
( |
) | ||||||
Change in unrealized appreciation (depreciation) on investments |
( |
) | ||||||
Decrease (Increase) in receivable on futures contracts |
( |
) | ||||||
Decrease (Increase) in interest receivable |
( |
) | ||||||
Increase (Decrease) in payable to Sponsor |
||||||||
Increase (Decrease) in brokerage commissions and fees payable |
||||||||
Increase (Decrease) in payable on futures contracts |
( |
) | ||||||
Net cash provided by (used in) operating activities |
( |
) | ||||||
Cash flow from financing activities |
||||||||
Proceeds from addition of shares |
||||||||
Payment on shares redeemed |
( |
) | ( |
) | ||||
Net cash provided by (used in) financing activities |
( |
) | ||||||
Net increase (decrease) in cash |
( |
) | ||||||
Cash, beginning of period |
||||||||
Cash, end of period |
$ | $ | ||||||
June 30, 2020 (unaudited) |
December 31, 2019 |
|||||||
Assets |
||||||||
Short-term U.S. government and agency obligations (Note 3) (cost $ |
$ | $ | ||||||
Cash |
||||||||
Segregated cash balances with brokers for futures contracts |
||||||||
Segregated cash balances with brokers for foreign currency forward contracts |
||||||||
Segregated cash balances with brokers for swap agreements |
||||||||
Unrealized appreciation on swap agreements |
||||||||
Unrealized appreciation on foreign currency forward contracts |
||||||||
Receivable from capital shares sold |
||||||||
Securities sold receivable |
||||||||
Receivable on open futures contracts |
||||||||
Interest receivable |
||||||||
Total assets |
||||||||
Liabilities and shareholders’ equity |
||||||||
Liabilities |
||||||||
Payable for capital shares redeemed |
– | |||||||
Payable on open futures contracts |
||||||||
Brokerage commissions and fees payable |
– | |||||||
Payable to Sponsor |
||||||||
Unrealized depreciation on swap agreements |
||||||||
Unrealized depreciation on foreign currency forward contracts |
||||||||
Total liabilities |
||||||||
Commitments and Contingencies (Note 2) |
||||||||
Shareholders’ equity |
||||||||
Shareholders’ equity |
||||||||
Total liabilities and shareholders’ equity |
$ | $ | ||||||
Shares outstanding |
||||||||
| |
|
|
|
|
|
| ||||||||||
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
| Investment Income |
||||||||||||||||
| Interest |
$ | $ | $ | $ | ||||||||||||
| Expenses |
||||||||||||||||
| Management fee |
||||||||||||||||
| Brokerage commissions |
||||||||||||||||
| Brokerage fees |
||||||||||||||||
| Non-recurring fees and expenses |
– | – | – | |||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Total expenses |
||||||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Realized and unrealized gain (loss) on investment activity |
||||||||||||||||
| Net realized gain (loss) on |
||||||||||||||||
| Futures contracts |
( |
) | ( |
) | ( |
) | ||||||||||
| Swap agreements |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
| Options |
– | – | ( |
) | – | |||||||||||
| Forward agreements |
– | – | – | |||||||||||||
| Foreign currency forward contracts |
( |
) | ( |
) | ( |
) | ||||||||||
| Short-term U.S. government and agency obligations |
||||||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Net realized gain (loss) |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Change in net unrealized appreciation (depreciation) on |
||||||||||||||||
| Futures contracts |
( |
) | ( |
) | ||||||||||||
| Swap agreements |
( |
) | ||||||||||||||
| Forward agreements |
– | – | – | ( |
) | |||||||||||
| Foreign currency forward contracts |
( |
) | ( |
) | ||||||||||||
| Short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Change in net unrealized appreciation (depreciation) |
( |
) | ||||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Net realized and unrealized gain (loss) |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Net income (loss) |
$ | ( |
) | $ | ( |
) | $ | ( |
) | $ | ( |
) | ||||
| |
|
|
|
|
|
|
|
|||||||||
* |
The operations include the activity of ProShares UltraPro 3x Crude Oil ETF through April 3, 2020, and ProShares UltraPro 3x Short Crude Oil ETF through April 13, 2020, the date of liquidation, respectively. |
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
2020 |
2019 |
2020 |
2019 |
|||||||||||||
| Shareholders’ equity, beginning of period |
$ | $ | $ | $ | ||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Addition of |
||||||||||||||||
| Redemption of |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Net addition (redemption) of ( |
( |
) | ||||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Net investment income (loss) |
( |
) | ( |
) | ||||||||||||
| Net realized gain (loss) |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
| Change in net unrealized appreciation (depreciation) |
( |
) | ||||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Net income (loss) |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
| |
|
|
|
|
|
|
|
|||||||||
| Shareholders’ equity, end of period |
$ | $ | $ | $ | ||||||||||||
| |
|
|
|
|
|
|
|
|||||||||
* |
The operations include the activity of ProShares UltraPro 3x Crude Oil ETF through April 3, 2020, and ProShares UltraPro 3x Short Crude Oil ETF through April 13, 2020, the date of liquidation, respectively. |
Six Months Ended June 30, |
||||||||
2020 |
2019 |
|||||||
| Cash flow from operating activities |
||||||||
| Net income (loss) |
$ | ( |
) | $ | ( |
) | ||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
||||||||
| Purchases of short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations |
||||||||
| Net amortization and accretion on short-term U.S. government and agency obligations |
( |
) | ( |
) | ||||
| Net realized gain (loss) on investments |
( |
) | ( |
) | ||||
| Change in unrealized appreciation (depreciation) on investments |
( |
) | ||||||
| Decrease (Increase) in securities sold receivable |
( |
) | ||||||
| Decrease (Increase) in receivable on futures contracts |
( |
) | ( |
) | ||||
| Decrease (Increase) in interest receivable |
( |
) | ||||||
| Increase (Decrease) in payable to Sponsor |
||||||||
| Increase (Decrease) in brokerage commissions and fees payable |
||||||||
| Increase (Decrease) in payable on futures contracts |
||||||||
| Increase (Decrease) in securities purchased payable |
||||||||
| Increase (Decrease) in non-recurring fees and expenses payable |
||||||||
| |
|
|
|
|||||
| Net cash provided by (used in) operating activities |
( |
) | ||||||
| |
|
|
|
|||||
| Cash flow from financing activities |
||||||||
| Proceeds from addition of shares |
||||||||
| Payment on shares redeemed |
( |
) | ( |
) | ||||
| |
|
|
|
|||||
| Net cash provided by (used in) financing activities |
||||||||
| |
|
|
|
|||||
| Net increase (decrease) in cash |
( |
) | ||||||
| Cash, beginning of period |
||||||||
| |
|
|
|
|||||
| Cash, end of period |
$ | $ | ||||||
| |
|
|
|
|||||
* |
The operations include the activity of ProShares UltraPro 3x Crude Oil ETF through April 3, 2020, and ProShares UltraPro 3x Short Crude Oil ETF through through April 13, 2020, the date of liquidation, respectively. |
| Fund |
Execution Date (Prior to Opening of Trading) |
Type of Split |
Date Trading Resumed at Post- Split Price |
|||||
| ProShares Ultra Bloomberg Crude Oil |
||||||||
| ProShares Ultra Bloomberg Natural Gas |
||||||||
| Fund |
Create/Redeem Cut-off* |
NAV Calculation Time |
NAV Calculation Date | |||
| UltraShort Silver, Ultra Silver |
||||||
| UltraShort Gold, Ultra Gold |
||||||
| UltraShort Bloomberg Crude Oil, |
||||||
| Ultra Bloomberg Crude Oil |
||||||
| UltraShort Bloomberg Natural Gas, |
||||||
| Ultra Bloomberg Natural Gas |
||||||
| UltraShort Australian Dollar |
||||||
| Short Euro, |
||||||
| UltraShort Euro, |
||||||
| Ultra Euro |
||||||
| UltraShort Yen, |
||||||
| Ultra Yen |
||||||
| VIX Short-Term Futures ETF, |
||||||
| Ultra VIX Short-Term Futures ETF, |
||||||
| Short VIX Short-Term Futures ETF |
||||||
| VIX Mid-Term Futures ETF |
||||||
| * | Although the Funds’ shares may continue to trade on secondary markets subsequent to the calculation of the final NAV, these times represent the final opportunity to transact in creation or redemption units for the six months ended June 30, 2020. |
Level I - Quoted Prices |
Level II - Other Significant Observable Inputs |
|||||||||||||||||||
| Fund |
Short-Term U.S. Government and Agencies |
Futures Contracts * |
Foreign Currency Forward Contracts |
Swap Agreements |
Total |
|||||||||||||||
| ProShares Short Euro |
$ | — | $ | $ | – | $ | – | $ | ||||||||||||
| ProShares Short VIX Short-Term Futures ETF |
$ | $ | $ | – | $ | – | $ | |||||||||||||
| ProShares Ultra Bloomberg Crude Oil |
— | |||||||||||||||||||
| ProShares Ultra Bloomberg Natural Gas |
( |
) | — | — | ||||||||||||||||
| ProShares Ultra Euro |
— | — | ( |
) | — | ( |
) | |||||||||||||
| ProShares Ultra Gold |
— | |||||||||||||||||||
| ProShares Ultra Silver |
— | |||||||||||||||||||
| ProShares Ultra VIX Short-Term Futures ETF |
— | ( |
) | |||||||||||||||||
| ProShares Ultra Yen |
— | — | — | |||||||||||||||||
| ProShares UltraShort Australian Dollar |
— | — | — | |||||||||||||||||
| ProShares UltraShort Bloomberg Crude Oil |
( |
) | — | ( |
) | ( |
) | |||||||||||||
| ProShares UltraShort Bloomberg Natural Gas |
— | — | ||||||||||||||||||
| ProShares UltraShort Euro |
— | ( |
) | — | ||||||||||||||||
| ProShares UltraShort Gold |
( |
) | — | ( |
) | |||||||||||||||
| ProShares UltraShort Silver |
( |
) | — | ( |
) | ( |
) | |||||||||||||
| ProShares UltraShort Yen |
— | ( |
) | — | ||||||||||||||||
| ProShares VIX Mid-Term Futures ETF |
— | — | ||||||||||||||||||
| ProShares VIX Short-Term Futures ETF |
— | — | ||||||||||||||||||
| |
|
|
|
|
|
|
|
|
|
|||||||||||
| Total Trust |
$ |
$ |
$ |
( |
) |
$ |
$ |
|||||||||||||
| * | Includes cumulative appreciation (depreciation) of futures contracts as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures. |
Level I - Quoted Prices |
Level II - Other Significant Observable Inputs |
|||||||||||||||||||
| Fund |
Short-Term U.S. Government and Agencies |
Futures Contracts * |
Foreign Currency Forward Contracts |
Swap Agreements |
Total |
|||||||||||||||
| ProShares Short Euro |
$ | $ | ( |
) | $ | — | $ | — | $ | |||||||||||
| ProShares Short VIX Short-Term Futures ETF |
— | — | ||||||||||||||||||
| ProShares Ultra Bloomberg Crude Oil |
— | |||||||||||||||||||
| ProShares Ultra Bloomberg Natural Gas |
( |
) | — | — | ||||||||||||||||
| ProShares Ultra Euro |
— | — | ||||||||||||||||||
| ProShares Ultra Gold |
— | |||||||||||||||||||
| ProShares Ultra Silver |
— | |||||||||||||||||||
| ProShares Ultra VIX Short-Term Futures ETF |
( |
) | — | ( |
) | |||||||||||||||
| ProShares Ultra Yen |
— | ( |
) | — | ||||||||||||||||
| ProShares UltraPro 3x Crude Oil ETF |
— | — | ||||||||||||||||||
| ProShares UltraPro 3x Short Crude Oil ETF |
( |
) | — | — | ||||||||||||||||
| ProShares UltraShort Australian Dollar |
( |
) | — | — | ||||||||||||||||
| ProShares UltraShort Bloomberg Crude Oil |
( |
) | — | ( |
) | |||||||||||||||
| ProShares UltraShort Bloomberg Natural Gas |
— | — | ||||||||||||||||||
| ProShares UltraShort Euro |
— | ( |
) | — | ||||||||||||||||
| ProShares UltraShort Gold |
( |
) | — | ( |
) | |||||||||||||||
| ProShares UltraShort Silver |
( |
) | — | ( |
) | |||||||||||||||
| ProShares UltraShort Yen |
— | — | ||||||||||||||||||
| ProShares VIX Mid-Term Futures ETF |
$ | $ | ( |
) | $ | — | $ | — | $ | |||||||||||
| ProShares VIX Short-Term Futures ETF |
( |
) | — | — | ||||||||||||||||
| |
|
|
|
|
|
|
|
|
|
|||||||||||
| Total Trust |
$ |
$ |
( |
) |
$ |
( |
) |
$ |
$ |
|||||||||||
| * | Includes cumulative appreciation (depreciation) of futures contracts as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures. |
| Asset Derivatives |
Liability Derivatives |
|||||||||||||
| Derivatives Not Accounted for as Hedging Instruments |
Fund |
Statements of Financial Condition Location |
Unrealized Appreciation |
Statements of Financial Condition Location |
Unrealized Depreciation |
|||||||||
| VIX Futures Contracts | Receivables on open futures contracts, unrealized appreciation on swap agreements | Payable on open futures contracts, unrealized depreciation on swap agreements | ||||||||||||
| ProShares Short VIX Short-Term Futures ETF | $ | * |
$ | — | ||||||||||
| ProShares Ultra VIX Short-Term Futures ETF | * |
* | ||||||||||||
| ProShares VIX Mid-Term Futures ETF |
* |
* | ||||||||||||
| ProShares VIX Short-Term Futures ETF | * |
* | ||||||||||||
| Commodities Contracts | Receivables on open futures contracts and/or unrealized appreciation on swap agreements | Payable on open futures contracts and/or unrealized depreciation on swap agreements | ||||||||||||
| ProShares Ultra Bloomberg Crude Oil | * |
* | ||||||||||||
| ProShares Ultra Bloomberg Natural Gas | * |
|||||||||||||
| ProShares Ultra Gold | * |
— | ||||||||||||
| ProShares Ultra Silver | * |
— | ||||||||||||
| ProShares UltraShort Bloomberg Crude Oil | * |
* | ||||||||||||
| ProShares UltraShort Bloomberg Natural Gas | * |
— | ||||||||||||
| ProShares UltraShort Gold | — | * | ||||||||||||
| ProShares UltraShort Silver | — | * | ||||||||||||
| Foreign Exchange Contracts | Unrealized appreciation on foreign currency forward contracts, and/or receivables on open futures contracts | Unrealized depreciation on foreign currency forward contracts, and/or payable on open futures contracts | ||||||||||||
| ProShares Short Euro | * |
–— | ||||||||||||
| ProShares Ultra Euro | ||||||||||||||
| ProShares Ultra Yen | ||||||||||||||
| ProShares UltraShort Australian Dollar | * | |||||||||||||
| ProShares UltraShort Euro | — | |||||||||||||
| ProShares UltraShort Yen |
— | |||||||||||||
| |
|
|
|
|||||||||||
Total Trust |
$ |
* |
$ |
* | ||||||||||
| * | Includes cumulative appreciation (depreciation) of futures contracts as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures. |
| Asset Derivatives |
Liability Derivatives |
|||||||||||||
| Derivatives Not Accounted for as Hedging Instruments |
Fund |
Statements of Financial Condition Location |
Unrealized Appreciation |
Statements of Financial Condition Location |
Unrealized Depreciation |
|||||||||
| VIX Futures Contracts | Receivables on open futures contracts, unrealized appreciation on swap agreements | Payable on open futures contracts, unrealized depreciation on swap agreements | ||||||||||||
| ProShares Short VIX Short-Term Futures ETF | $ | * |
$ | * | ||||||||||
| ProShares Ultra VIX Short-Term Futures ETF | — | * | ||||||||||||
| ProShares VIX Mid-Term Futures ETF |
* |
* | ||||||||||||
| ProShares VIX Short-Term Futures ETF | — | * | ||||||||||||
| Commodities Contracts | Receivables on open futures contracts and/or unrealized appreciation on swap agreements | Payable on open futures contracts and/or unrealized depreciation on swap agreements | ||||||||||||
| ProShares Ultra Bloomberg Crude Oil | * |
— | ||||||||||||
| ProShares Ultra Bloomberg Natural Gas | — | * | ||||||||||||
| ProShares Ultra Gold | * |
— | ||||||||||||
| ProShares Ultra Silver | * |
— | ||||||||||||
| ProShares UltraPro 3x Crude Oil ETF | * |
— | ||||||||||||
| ProShares UltraPro 3x Short Crude Oil ETF | — | * | ||||||||||||
| ProShares UltraShort Bloomberg Crude Oil | — | * | ||||||||||||
| ProShares UltraShort Bloomberg Natural Gas | * |
— | ||||||||||||
| ProShares UltraShort Gold | — | * | ||||||||||||
| ProShares UltraShort Silver | — | * | ||||||||||||
| Foreign Exchange Contracts | Unrealized appreciation on foreign currency forward contracts, and/or receivables on open futures contracts | Unrealized depreciation on foreign currency forward contracts, and/or payable on open futures contracts | ||||||||||||
| ProShares Short Euro | — | * | ||||||||||||
| ProShares Ultra Euro | — | |||||||||||||
| ProShares Ultra Yen | — | |||||||||||||
| ProShares UltraShort Australian Dollar | — | * | ||||||||||||
| ProShares UltraShort Euro | ||||||||||||||
| ProShares UltraShort Yen |
— |
|||||||||||||
| |
|
|
|
|||||||||||
Total Trust |
$ |
* |
$ |
* | ||||||||||
| Derivatives Not Accounted for as Hedging Instruments |
Location of Gain (Loss) on Derivatives Recognized in Income |
Fund |
Realized Gain (Loss) on Derivatives Recognized in Income |
Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income |
||||||||
| VIX Futures Contracts |
Net realized gain (loss) on futures contracts and/or swap agreements/ changes in unrealized appreciation (depreciation) on futures contracts and/or swap agreements |
|||||||||||
| ProShares Short VIX Short-Term Futures ETF |
$ | $ | ( |
) | ||||||||
| ProShares Ultra VIX Short-Term Futures ETF |
( |
) | ( |
) | ||||||||
| ProShares VIX Mid-Term Futures ETF |
( |
) | ||||||||||
| ProShares VIX Short-Term Futures ETF |
( |
) | ( |
) | ||||||||
| Commodities Contracts |
Net realized gain (loss) on futures contracts and swap agreements/ changes in unrealized appreciation (depreciation) on futures contracts and swap agreements |
|||||||||||
| ProShares Ultra Bloomberg Crude Oil |
$ | ( |
) | $ | ||||||||
| ProShares Ultra Bloomberg Natural Gas |
( |
) | ||||||||||
| ProShares Ultra Gold |
||||||||||||
| ProShares Ultra Silver |
||||||||||||
| ProShares UltraShort Bloomberg Crude Oil |
( |
) | ( |
) | ||||||||
| ProShares UltraShort Bloomberg Natural Gas |
( |
) | ||||||||||
| ProShares UltraShort Gold |
( |
) | ( |
) | ||||||||
| ProShares UltraShort Silver |
( |
) | ( |
) | ||||||||
| Foreign Exchange Contracts |
Net realized gain (loss) on futures and/ or foreign currency forward contracts/ changes in unrealized appreciation (depreciation) on futures and/ or foreign currency forward contracts |
|||||||||||
| ProShares Short Euro |
$ | ( |
) | $ | ( |
) | ||||||
| ProShares Ultra Euro |
( |
) | ||||||||||
| ProShares Ultra Yen |
( |
) | ||||||||||
| ProShares UltraShort Australian Dollar |
( |
) | ( |
) | ||||||||
| ProShares UltraShort Euro |
( |
) | ( |
) | ||||||||
| ProShares UltraShort Yen |
||||||||||||
| |
|
|
|
|||||||||
| Total Trust |
$ |
( |
$ |
|||||||||
| Derivatives Not Accounted for as Hedging Instruments |
Location of Gain (Loss) on Derivatives Recognized in Income |
Fund |
Realized Gain (Loss) on Derivatives Recognized in Income |
Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income |
||||||||
| VIX Futures Contracts |
Net realized gain (loss) on futures contracts and/or swap agreements/ changes in unrealized appreciation (depreciation) on futures contracts and/or swap agreements |
|||||||||||
| ProShares Short VIX Short-Term Futures ETF |
$ | ( |
) | $ | ( |
) | ||||||
| ProShares Ultra VIX Short-Term Futures ETF |
||||||||||||
| ProShares VIX Mid-Term Futures ETF |
||||||||||||
| ProShares VIX Short-Term Futures ETF |
||||||||||||
| Commodities Contracts |
Net realized gain (loss) on futures contracts , options and swap agreements/ changes in unrealized appreciation (depreciation) on futures contracts and swap agreements |
|||||||||||
| ProShares Ultra Bloomberg Crude Oil |
( |
) | ||||||||||
| ProShares Ultra Bloomberg Natural Gas |
( |
) | ||||||||||
| ProShares Ultra Gold |
||||||||||||
| ProShares Ultra Silver |
( |
) | ||||||||||
| ProShares UltraPro 3x Crude Oil ETF* |
( |
) | ( |
) | ||||||||
| ProShares UltraPro 3x Short Crude Oil ETF* |
||||||||||||
| ProShares UltraShort Bloomberg Crude Oil |
||||||||||||
| ProShares UltraShort Bloomberg Natural Gas |
||||||||||||
| ProShares UltraShort Gold |
( |
) | ||||||||||
| ProShares UltraShort Silver |
( |
) | ||||||||||
| Foreign Exchange Contracts |
Net realized gain (loss) on futures and/ or foreign currency forward contracts/ changes in unrealized appreciation (depreciation) on futures and/ or foreign currency forward contracts |
|||||||||||
| ProShares Short Euro |
( |
) | ||||||||||
| ProShares Ultra Euro |
( |
) | ( |
) | ||||||||
| ProShares Ultra Yen |
( |
) | ||||||||||
| ProShares UltraShort Australian Dollar |
( |
) | ||||||||||
| ProShares UltraShort Euro |
( |
) | ||||||||||
| ProShares UltraShort Yen |
( |
) | ( |
) | ||||||||
| |
|
|
|
|||||||||
| Total Trust |
$ |
( |
) |
$ |
||||||||
| Derivatives Not Accounted for as Hedging Instruments |
Location of Gain (Loss) on Derivatives Recognized in Income |
Fund |
Realized Gain (Loss) on Derivatives Recognized in Income |
Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income |
||||||||
| VIX Futures Contracts |
Net realized gain (loss) on futures contracts and/or swap agreements/ changes in unrealized appreciation (depreciation) on futures contracts and/or swap agreements |
|||||||||||
| ProShares Short VIX Short-Term Futures ETF |
$ | $ | ||||||||||
| ProShares Ultra VIX Short-Term Futures ETF |
( |
) | ( |
) | ||||||||
| ProShares VIX Mid-Term Futures ETF |
( |
) | ||||||||||
| ProShares VIX Short-Term Futures ETF |
( |
) | ( |
) | ||||||||
| Commodities Contracts |
Net realized gain (loss) on futures contracts and swap agreements/ changes in unrealized appreciation (depreciation) on futures contracts and swap agreements |
|||||||||||
| ProShares Ultra Bloomberg Crude Oil |
$ | ( |
$ | |||||||||
| ProShares Ultra Bloomberg Natural Gas |
( |
) | ( |
) | ||||||||
| ProShares Ultra Gold |
||||||||||||
| ProShares Ultra Silver |
( |
) | ||||||||||
| |
|
ProShares UltraPro 3x Crude Oil ETF |
|
|
|
|
|
|
( |
) | ||
| |
|
ProShares UltraPro 3x Short Crude Oil ETF |
|
|
|
|
|
|
( |
) | ||
| ProShares UltraShort Bloomberg Crude Oil |
( |
) | ||||||||||
| ProShares UltraShort Bloomberg Natural Gas |
( |
) | ||||||||||
| ProShares UltraShort Gold |
( |
) | ( |
) | ||||||||
| ProShares UltraShort Silver |
( |
) | ||||||||||
| Foreign Exchange Contracts |
Net realized gain (loss) on futures and/ or foreign currency forward contracts/ changes in unrealized appreciation (depreciation) on futures and/ or foreign currency forward contracts |
|||||||||||
| ProShares Short Euro |
$ | $ | ( |
) | ||||||||
| ProShares Ultra Euro |
( |
) | ||||||||||
| ProShares Ultra Yen |
( |
) | ||||||||||
| ProShares UltraShort Australian Dollar |
( |
) | ||||||||||
| ProShares UltraShort Euro |
( |
) | ||||||||||
| ProShares UltraShort Yen |
( |
) | ||||||||||
| |
|
|
|
|||||||||
| Total Trust |
$ |
( |
) |
$ |
( |
) | ||||||
| Derivatives Not Accounted for as Hedging Instruments |
Location of Gain (Loss) on Derivatives Recognized in Income |
Fund |
Realized Gain (Loss) on Derivatives Recognized in Income |
Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income |
||||||||
| VIX Futures Contracts |
Net realized gain (loss) on futures contracts and/or swap agreements/ changes in unrealized appreciation (depreciation) on futures contracts and/or swap agreements |
|||||||||||
| ProShares Short VIX Short-Term Futures ETF |
$ | $ | ||||||||||
| ProShares Ultra VIX Short-Term Futures ETF |
( |
) | ( |
) | ||||||||
| ProShares VIX Mid-Term Futures ETF |
( |
) | ( |
) | ||||||||
| ProShares VIX Short-Term Futures ETF |
( |
) | ( |
) | ||||||||
| Commodities Contracts |
Net realized gain (loss) on futures contracts and swap agreements/ changes in unrealized appreciation (depreciation) on futures contracts and swap agreements |
|||||||||||
| ProShares Ultra Bloomberg Crude Oil |
||||||||||||
| ProShares Ultra Bloomberg Natural Gas |
( |
) | ||||||||||
| ProShares Ultra Gold |
||||||||||||
| ProShares Ultra Silver |
( |
) | ||||||||||
| |
|
ProShares UltraPro 3x Crude Oil ETF |
|
|
|
|
|
|
|
| ||
| |
|
ProShares UltraPro 3x Short Crude Oil ETF |
|
|
( |
) |
|
|
( |
) | ||
| ProShares UltraShort Bloomberg Crude Oil |
( |
) | ||||||||||
| ProShares UltraShort Bloomberg Natural Gas |
( |
) | ||||||||||
| ProShares UltraShort Gold |
( |
) | ( |
) | ||||||||
| ProShares UltraShort Silver |
( |
) | ||||||||||
| Foreign Exchange Contracts |
Net realized gain (loss) on futures and/ or foreign currency forward contracts/ changes in unrealized appreciation (depreciation) on futures and/ or foreign currency forward contracts |
|||||||||||
| ProShares Short Euro |
( |
) | ||||||||||
| ProShares Ultra Euro |
( |
) | ( |
) | ||||||||
| ProShares Ultra Yen |
( |
) | ||||||||||
| ProShares UltraShort Australian Dollar |
( |
) | ||||||||||
| ProShares UltraShort Euro |
||||||||||||
| ProShares UltraShort Yen |
( |
) | ||||||||||
| |
|
|
|
|||||||||
| Total Trust |
$ |
( |
) |
$ |
||||||||
| Fair Values of Derivative Instruments as of June 30, 2020 | ||||||||||||
| Assets |
Liabilities | |||||||||||
| Fund |
Gross Amounts of Recognized Assets presented in the Statements of Financial Condition |
Gross Amounts Offset in the Statements of Financial Condition |
Net Amounts of Assets presented in the Statements of Financial Condition |
Gross Amounts of Recognized Liabilities presented in the Statements of Financial Condition |
Gross Amounts Offset in the Statements of Financial Condition |
Net Amounts of Liabilities presented in the Statements of Financial Condition | ||||||
| ProShares Ultra Bloomberg Crude Oil Swap agreements |
$ |
$ |
$ |
$ |
$ |
$ | ||||||
| ProShares Ultra Euro Foreign currency forward contracts |
||||||||||||
| ProShares Ultra Gold Swap agreements |
||||||||||||
| ProShares Ultra Silver Swap agreements |
||||||||||||
| ProShares Ultra VIX Short-Term Futures ETF Swap agreements |
||||||||||||
| ProShares Ultra Yen Foreign currency forward contracts |
||||||||||||
| ProShares UltraShort Bloomberg Crude Oil Swap agreements |
||||||||||||
| ProShares UltraShort Euro Foreign currency forward contracts |
||||||||||||
| ProShares UltraShort Gold Swap agreements |
||||||||||||
| ProShares UltraShort Silver Swap agreements |
||||||||||||
| ProShares UltraShort Yen Foreign currency forward contracts |
||||||||||||
| Gross Amounts Not Offset in the Statements of Financial Condition as of June 30, 2020 |
| |||||||||||||||
| Fund |
Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition |
Financial Instruments for the Benefit of (the Funds) / the Counterparties |
Cash Collateral for the Benefit of (the Funds) /the Counterparties |
Net Amount |
||||||||||||
| ProShares Ultra Bloomberg Crude Oil |
||||||||||||||||
| Goldman Sachs International |
$ | $ | ( |
) | $ | — | $ | — | ||||||||
| Morgan Stanley |
( |
) | — | — | ||||||||||||
| Societe Generale |
( |
) | — | — | ||||||||||||
| ProShares Ultra Euro |
||||||||||||||||
| Goldman Sachs International |
— | — | ||||||||||||||
| UBS AG |
( |
) | — | — | ||||||||||||
| ProShares Ultra Gold |
||||||||||||||||
| Citibank, N.A. |
— | ( |
) | |||||||||||||
| Goldman Sachs International |
( |
) | — | |||||||||||||
| UBS AG |
( |
) | — | |||||||||||||
| ProShares Ultra Silver |
||||||||||||||||
| Citibank, N.A. |
— | ( |
) | |||||||||||||
| Goldman Sachs International |
— | — | ||||||||||||||
| UBS AG |
— | — | ||||||||||||||
| ProShares Ultra VIX Short-Term Futures ETF |
||||||||||||||||
| Goldman Sachs & Co. |
( |
) | — | — | ||||||||||||
| ProShares Ultra Yen |
||||||||||||||||
| Goldman Sachs International |
— | — | ||||||||||||||
| UBS AG |
— | — | ||||||||||||||
| ProShares UltraShort Bloomberg Crude Oil |
||||||||||||||||
| Goldman Sachs International |
( |
) | — | — | ||||||||||||
| ProShares UltraShort Euro |
||||||||||||||||
| Goldman Sachs International |
( |
) | — | — | ||||||||||||
| UBS AG |
( |
) | — | — | ||||||||||||
| ProShares UltraShort Gold |
||||||||||||||||
| Citibank, N.A. |
( |
) | — | — | ||||||||||||
| Goldman Sachs International |
( |
) | — | — | ||||||||||||
| UBS AG |
( |
) | — | — | ||||||||||||
| ProShares UltraShort Silver |
||||||||||||||||
| Citibank, N.A. |
( |
) | — | — | ||||||||||||
| Goldman Sachs International |
( |
) | — | — | ||||||||||||
| UBS AG |
( |
) | — | — | ||||||||||||
| ProShares UltraShort Yen |
||||||||||||||||
| Goldman Sachs International |
( |
) | — | — | ||||||||||||
| UBS AG |
( |
) | — | — | ||||||||||||
| Fair Values of Derivative Instruments as of December 31, 2019 | ||||||||||||
| Assets |
Liabilities | |||||||||||
| Fund |
Gross Amounts of Recognized Assets presented in the Statements of Financial Condition |
Gross Amounts Offset in the Statements of Financial Condition |
Net Amounts of Assets presented in the Statements of Financial Condition |
Gross Amounts of Recognized Liabilities presented in the Statements of Financial Condition |
Gross Amounts Offset in the Statements of Financial Condition |
Net Amounts of Liabilities presented in the Statements of Financial Condition | ||||||
| ProShares Ultra Bloomberg Crude Oil Swap agreements |
$ |
$ |
$ |
$ |
$ |
$ | ||||||
| ProShares Ultra Euro Foreign currency forward contracts |
||||||||||||
| ProShares Ultra Gold Swap agreements |
||||||||||||
| ProShares Ultra Silver Swap agreements |
||||||||||||
| ProShares Ultra VIX Short-Term Futures ETF Swap agreements |
||||||||||||
| ProShares Ultra Yen Foreign currency forward contracts |
||||||||||||
| ProShares UltraShort Bloomberg Crude Oil Swap agreements |
||||||||||||
| ProShares UltraShort Euro Foreign currency forward contracts |
||||||||||||
| ProShares UltraShort Gold Swap agreements |
||||||||||||
| ProShares UltraShort Silver Swap agreements |
||||||||||||
| ProShares UltraShort Yen Foreign currency forward contracts |
||||||||||||
Gross Amounts Not Offset in the Statements of Financial Condition as of December 31, 2019 |
||||||||||||||||
Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition |
Financial Instruments for the Benefit of (the Funds) / the Counterparties |
Cash Collateral for the Benefit of (the Funds) /the Counterparties |
Net Amount |
|||||||||||||
ProShares Ultra Bloomberg Crude Oil |
||||||||||||||||
Citibank, N.A. |
$ | $ | — | $ | ( |
) | $ | — | ||||||||
Goldman Sachs International |
( |
) | — | — | ||||||||||||
Royal Bank of Canada |
— | ( |
) | — | ||||||||||||
Societe Generale |
( |
) | — | — | ||||||||||||
UBS AG |
( |
) | — | — | ||||||||||||
ProShares Ultra Euro |
||||||||||||||||
Goldman Sachs International |
— | — | ||||||||||||||
UBS AG |
— | — | ||||||||||||||
ProShares Ultra Gold |
||||||||||||||||
Citibank, N.A. |
— | ( |
) | |||||||||||||
Goldman Sachs International |
( |
) | — | |||||||||||||
UBS AG |
( |
) | — | |||||||||||||
ProShares Ultra Silver |
||||||||||||||||
Citibank, N.A. |
— | ( |
) | — | ||||||||||||
Goldman Sachs International |
( |
) | — | — | ||||||||||||
UBS AG |
( |
) | — | — | ||||||||||||
ProShares Ultra VIX Short-Term Futures ETF |
||||||||||||||||
Goldman Sachs & Co. |
( |
) | — | — | ||||||||||||
ProShares Ultra Yen |
||||||||||||||||
Goldman Sachs International |
( |
) | — | — | ||||||||||||
UBS AG |
( |
) | — | — | ||||||||||||
ProShares UltraShort Bloomberg Crude Oil |
||||||||||||||||
Citibank, N.A. |
( |
) | — | — | ||||||||||||
Goldman Sachs International |
( |
) | — | — | ||||||||||||
Royal Bank of Canada |
( |
) | — | — | ||||||||||||
Societe Generale |
( |
) | — | — | ||||||||||||
UBS AG |
( |
) | — | — | ||||||||||||
ProShares UltraShort Euro |
||||||||||||||||
Goldman Sachs International |
( |
) | — | — | ||||||||||||
UBS AG |
( |
) | — | — | ||||||||||||
ProShares UltraShort Gold |
||||||||||||||||
Citibank, N.A. |
( |
) | — | — | ||||||||||||
Goldman Sachs International |
( |
) | — | — | ||||||||||||
UBS AG |
( |
) | — | — | ||||||||||||
ProShares UltraShort Silver |
||||||||||||||||
Citibank, N.A. |
( |
) | — | — | ||||||||||||
Goldman Sachs International |
( |
) | — | — | ||||||||||||
UBS AG |
( |
) | — | — | ||||||||||||
ProShares UltraShort Yen |
||||||||||||||||
Goldman Sachs International |
( |
) | — | — | ||||||||||||
UBS AG |
( |
) | — | — | ||||||||||||
Three Months Ended |
Six Months Ended |
|||||||
Fund |
June 30, 2020 |
June 30, 2020 |
||||||
ProShares Short Euro |
$ | — | $ | — | ||||
ProShares Short VIX Short-Term Futures ETF |
||||||||
ProShares Ultra Bloomberg Crude Oil |
— | — | ||||||
ProShares Ultra Bloomberg Natural Gas |
— | — | ||||||
ProShares Ultra Euro |
— | — | ||||||
ProShares Ultra Gold |
— | — | ||||||
ProShares Ultra Silver |
— | — | ||||||
ProShares Ultra VIX Short-Term Futures ETF |
||||||||
ProShares Ultra Yen |
— | — | ||||||
ProShares UltraPro 3x Crude Oil ETF* |
||||||||
ProShares UltraPro 3x Short Crude Oil ETF* |
||||||||
ProShares UltraShort Australian Dollar |
— | — | ||||||
ProShares UltraShort Bloomberg Crude Oil |
— | — | ||||||
ProShares UltraShort Bloomberg Natural Gas |
— | — | ||||||
ProShares UltraShort Euro |
— | — | ||||||
ProShares UltraShort Gold |
— | — | ||||||
ProShares UltraShort Silver |
— | — | ||||||
ProShares UltraShort Yen |
— | — | ||||||
ProShares VIX Mid-Term Futures ETF |
||||||||
ProShares VIX Short-Term Futures ETF |
||||||||
Total Trust |
$ |
$ |
||||||
* |
The operations include the activity of ProShares UltraPro 3x Crude Oil ETF through April 3, 2020, and ProShares UltraPro 3x Short Crude Oil ETF through April 13, 2020, the date of liquidation, respectively. |
| Per Share Operating Performance |
Short Euro |
Short VIX Short-Term Futures ETF |
Ultra Bloomberg Crude Oil * |
Ultra Bloomberg Natural Gas * |
Ultra Euro |
Ultra Gold |
||||||||||||||||||
| Net asset value, at March 31, 2020 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Net investment income (loss) |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||
| Net realized and unrealized gain (loss)# |
( |
) | ( |
) | ( |
) | ||||||||||||||||||
| Change in net asset value from operations |
( |
) | ( |
) | ( |
) | ||||||||||||||||||
| Net asset value, at June 30, 2020 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at March 31, 2020 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at June 30, 2020 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Total Return, at net asset value^ |
( |
)% | % | ( |
)% | ( |
)% | % | % | |||||||||||||||
| Total Return, at market value^ |
( |
)% | % | ( |
)% | ( |
)% | % | % | |||||||||||||||
| Ratios to Average Net Assets** |
||||||||||||||||||||||||
| Expense ratio |
% | % | % | % | % | % | ||||||||||||||||||
| Expense ratio, excluding non- recurring fees and expenses, and brokerage commissions and fees |
% | % | % | % | % | % | ||||||||||||||||||
| Net investment income gain (loss) |
( |
)% | ( |
)% | ( |
)% | ( |
)% | ( |
)% | ( |
)% | ||||||||||||
| * | See Note 1 of these Notes to Financial Statements. |
** |
Percentages are annualized. |
# |
The amount shown for a share outstanding throughout the period may not accord with the change in aggregate gains and losses during the period because of timing of creation and redemption units in relation to fluctuating net asset value during the period. |
| † | Market values are determined at the close of the NYSE Arca, which may be later than when the Funds’ net asset value is calculated. |
| ^ | Percentages are not annualized for the period ended June 30, 2020. |
| Per Share Operating Performance |
Ultra Silver |
Ultra VIX Short-Term Futures ETF |
Ultra Yen |
UltraShort Australian Dollar |
UltraShort Bloomberg Crude Oil |
UltraShort Bloomberg Natural Gas |
||||||||||||||||||
| Net asset value, at March 31, 2020 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Net investment income (loss) |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||
| Net realized and unrealized gain (loss)# |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||||
| Change in net asset value from operations |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||||
| Net asset value, at June 30, 2020 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at March 31, 2020 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at June 30, 2020 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Total Return, at net asset value^ |
% | ( |
)% | ( |
)% | ( |
)% | ( |
)% | % | ||||||||||||||
| Total Return, at market value^ |
% | ( |
)% | ( |
)% | ( |
)% | ( |
)% | % | ||||||||||||||
| Ratios to Average Net Assets** |
||||||||||||||||||||||||
| Expense ratio |
% | % | % | % | % | % | ||||||||||||||||||
| Expense ratio, excluding non- recurring fees and expenses, and brokerage commissions and fees |
% | % | % | % | % | % | ||||||||||||||||||
| Net investment income gain (loss) |
( |
)% | ( |
)% | ( |
)% | ( |
)% | ( |
)% | ( |
)% | ||||||||||||
| ** | Percentages are annualized. |
| # | The amount shown for a share outstanding throughout the period may not accord with the change in aggregate gains and losses during the period because of timing of creation and redemption units in relation to fluctuating net asset value during the period. |
| † | Market values are determined at the close of the NYSE Arca, which may be later than when the Funds’ net asset value is calculated. |
| ^ | Percentages are not annualized for the period ended June 30, 2020. |
| Per Share Operating Performance |
UltraShort Euro |
UltraShort Gold |
UltraShort Silver |
UltraShort Yen |
VIX Mid-Term Futures ETF |
VIX Short-Term Futures ETF |
||||||||||||||||||
| Net asset value, at March 31, 2020 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Net investment income (loss) |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||
| Net realized and unrealized gain (loss)# |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||||
| Change in net asset value from operations |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||||
| Net asset value, at June 30, 2020 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at March 31, 2020 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at June 30, 2020 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Total Return, at net asset value^ |
( |
)% | ( |
)% | ( |
)% | % | % | ( |
)% | ||||||||||||||
| Total Return, at market value^ |
( |
)% | ( |
)% | ( |
)% | % | % | ( |
)% | ||||||||||||||
| Ratios to Average Net Assets** |
||||||||||||||||||||||||
| Expense ratio |
% | % | % | % | % | % | ||||||||||||||||||
| Expense ratio, excluding non- recurring fees and expenses, and brokerage commissions and fees |
% | % | % | % | % | % | ||||||||||||||||||
| Net investment income gain (loss) |
( |
)% | ( |
)% | ( |
)% | ( |
)% | ( |
)% | ( |
)% | ||||||||||||
| ** | Percentages are annualized. |
| # | The amount shown for a share outstanding throughout the period may not accord with the change in aggregate gains and losses during the period because of timing of creation and redemption units in relation to fluctuating net asset value during the period. |
| † | Market values are determined at the close of the NYSE Arca, which may be later than when the Funds’ net asset value is calculated. |
| ^ | Percentages are not annualized for the period ended June 30, 2020. |
| Per Share Operating Performance |
Short Euro |
Short VIX Short-Term Futures ETF |
Ultra Bloomberg Crude Oil * |
Ultra Bloomberg Natural Gas * |
Ultra Euro |
Ultra Gold |
||||||||||||||||||
| Net asset value, at March 31, 2019 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Net investment income (loss) |
||||||||||||||||||||||||
| Net realized and unrealized gain (loss)# |
( |
) | ( |
) | ( |
) | ||||||||||||||||||
| Change in net asset value from operations |
( |
) | ( |
) | ( |
) | ||||||||||||||||||
| Net asset value, at June 30, 2019 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at March 31, 2019 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at June 30, 2019 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Total Return, at net asset value^ |
( |
)% | % | ( |
)% | ( |
)% | % | % | |||||||||||||||
| Total Return, at market value^ |
( |
)% | % | ( |
)% | ( |
)% | % | % | |||||||||||||||
| Ratios to Average Net Assets** |
||||||||||||||||||||||||
| Expense ratio |
% | % | % | % | % | % | ||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees |
% | % | % | % | % | % | ||||||||||||||||||
| Net investment income gain (loss) |
% | % | % | % | % | % | ||||||||||||||||||
| * | See Note 1 of these Notes to Financial Statements. |
| ** | Percentages are annualized. |
| # | The amount shown for a share outstanding throughout the period may not accord with the change in aggregate gains and losses during the period because of timing of creation and redemption units in relation to fluctuating net asset value during the period. |
| † | Market values are determined at the close of the NYSE Arca, which may be later than when the Funds’ net asset value is calculated. |
| ^ | Percentages are not annualized for the period ended June 30, 2019. |
| Per Share Operating Performance |
Ultra Silver |
Ultra VIX Short-Term Futures ETF |
Ultra Yen |
UltraPro 3x Crude Oil ETF |
UltraPro 3x Short Crude Oil ETF * |
UltraShort Australian Dollar |
||||||||||||||||||
| Net asset value, at March 31, 2019 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Net investment income (loss) |
||||||||||||||||||||||||
| Net realized and unrealized gain (loss)# |
( |
) | ( |
) | ( |
) | ||||||||||||||||||
| Change in net asset value from operations |
( |
) | ( |
) | ( |
) | ||||||||||||||||||
| Net asset value, at June 30, 2019 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at March 31, 2019 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at June 30, 2019 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Total Return, at net asset value^ |
% | ( |
)% | % | ( |
)% | ( |
)% | % | |||||||||||||||
| Total Return, at market value^ |
% | ( |
)% | % | ( |
)% | ( |
)% | % | |||||||||||||||
| Ratios to Average Net Assets** |
||||||||||||||||||||||||
| Expense ratio |
% | % | % | % | % | % | ||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees |
% | % | % | % | % | % | ||||||||||||||||||
| Net investment income gain (loss) |
% | % | % | % | % | % | ||||||||||||||||||
| ** | Percentages are annualized. |
| # | The amount shown for a share outstanding throughout the period may not accord with the change in aggregate gains and losses during the period because of timing of creation and redemption units in relation to fluctuating net asset value during the period. |
| † | Market values are determined at the close of the NYSE Arca, which may be later than when the Funds’ net asset value is calculated. |
| ^ | Percentages are not annualized for the period ended June 30, 2019. |
| Per Share Operating Performance |
UltraShort Bloomberg Crude Oil |
UltraShort Bloomberg Natural Gas |
UltraShort Euro |
UltraShort Gold |
UltraShort Silver |
UltraShort Yen |
||||||||||||||||||
| Net asset value, at March 31, 2019 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Net investment income (loss) |
||||||||||||||||||||||||
| Net realized and unrealized gain (loss)# |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||
| Change in net asset value from operations |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||
| Net asset value, at June 30, 2019 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at March 31, 2019 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at June 30, 2019 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Total Return, at net asset value^ |
( |
)% | % | ( |
)% | ( |
)% | ( |
)% | ( |
)% | |||||||||||||
| Total Return, at market value^ |
% | % | ( |
)% | ( |
)% | ( |
)% | ( |
)% | ||||||||||||||
| Ratios to Average Net Assets** |
||||||||||||||||||||||||
| Expense ratio |
% | % | % | % | % | % | ||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees |
% | % | % | % | % | % | ||||||||||||||||||
| Net investment income gain (loss) |
% | % | % | % | % | % | ||||||||||||||||||
| ** | Percentages are annualized. |
| # | The amount shown for a share outstanding throughout the period may not accord with the change in aggregate gains and losses during the period because of timing of creation and redemption units in relation to fluctuating net asset value during the period. |
| † | Market values are determined at the close of the NYSE Arca, which may be later than when the Funds’ net asset value is calculated. |
| ^ | Percentages are not annualized for the period ended June 30, 2019. |
| Per Share Operating Performance |
VIX Mid-Term Futures ETF |
VIX Short-Term Futures ETF |
||||||
| Net asset value, at March 31, 2019 |
$ | $ | ||||||
| Net investment income (loss) |
||||||||
| Net realized and unrealized gain (loss)# |
( |
) | ( |
) | ||||
| Change in net asset value from operations |
( |
) | ( |
) | ||||
| Net asset value, at June 30, 2019 |
$ | $ | ||||||
| Market value per share, at March 31, 2019 † |
$ | $ | ||||||
| Market value per share, at June 30, 2019 † |
$ | $ | ||||||
| Total Return, at net asset value^ |
( |
)% | ( |
)% | ||||
| Total Return, at market value^ |
% | ( |
)% | |||||
| Ratios to Average Net Assets** |
||||||||
| Expense ratio |
% | % | ||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees |
% | % | ||||||
| Net investment income gain (loss) |
% | % | ||||||
| ** | Percentages are annualized. |
| # | The amount shown for a share outstanding throughout the period may not accord with the change in aggregate gains and losses during the period because of timing of creation and redemption units in relation to fluctuating net asset value during the period. |
| † | Market values are determined at the close of the NYSE Arca, which may be later than when the Funds’ net asset value is calculated. |
| ^ | Percentages are not annualized for the period ended June 30, 2019. |
| Per Share Operating Performance |
Short Euro |
Short VIX Short-Term Futures ETF |
Ultra Bloomberg Crude Oil* |
Ultra Bloomberg Natural Gas* |
Ultra Euro |
Ultra Gold |
||||||||||||||||||
| Net asset value, at December 31, 2019 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Net investment income (loss) |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||
| Net realized and unrealized gain (loss)# |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||||
| Change in net asset value from operations |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||||
| Net asset value, at June 30, 2020 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at December 31, 2019 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at June 30, 2020 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Total Return, at net asset value^ |
% | ( |
)% | ( |
)% | ( |
)% | ( |
)% | % | ||||||||||||||
| Total Return, at market value^ |
( |
)% | ( |
)% | ( |
)% | ( |
)% | ( |
)% | % | |||||||||||||
| Ratios to Average Net Assets** |
||||||||||||||||||||||||
| Expense ratio |
% | % | % | % | % | % | ||||||||||||||||||
| Expense ratio, excluding brokerage commissions and fees |
% | % | % | % | % | % | ||||||||||||||||||
| Net investment income gain (loss) |
( |
)% | ( |
)% | ( |
)% | ( |
)% | ( |
)% | ( |
)% | ||||||||||||
| * | See Note 1 of these Notes to Financial Statements. |
| ** | Percentages are annualized. |
| # | The amount shown for a share outstanding throughout the period may not accord with the change in aggregate gains and losses during the period because of timing of creation and redemption units in relation to fluctuating net asset value during the period. |
| † | Market values are determined at the close of the NYSE Arca, which may be later than when the Funds’ net asset value is calculated. |
| ^ | Percentages are not annualized for the period ended June 30, 2020. |
| Per Share Operating Performance |
Ultra Silver |
Ultra VIX Short-Term Futures ETF |
Ultra Yen |
UltraShort Australian Dollar |
UltraShort Bloomberg Crude Oil |
UltraShort Bloomberg Natural Gas |
||||||||||||||||||
| Net asset value, at December 31, 2019 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Net investment income (loss) |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||
| Net realized and unrealized gain (loss)# |
( |
) | ( |
) | ||||||||||||||||||||
| Change in net asset value from operations |
( |
) | ( |
) | ||||||||||||||||||||
| Net asset value, at June 30, 2020 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at December 31, 2019 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at June 30, 2020 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Total Return, at net asset value^ |
( |
)% | % | ( |
)% | % | % | % | ||||||||||||||||
| Total Return, at market value^ |
( |
)% | % | ( |
)% | % | % | % | ||||||||||||||||
| Ratios to Average Net Assets** |
||||||||||||||||||||||||
| Expense ratio |
% | % | % | % | % | % | ||||||||||||||||||
| Expense ratio, excluding brokerage commissions and fees |
% | % | % | % | % | % | ||||||||||||||||||
| Net investment income gain (loss) |
( |
)% | ( |
)% | ( |
)% | ( |
)% | ( |
)% | ( |
)% | ||||||||||||
| ** | Percentages are annualized. |
| # | The amount shown for a share outstanding throughout the period may not accord with the change in aggregate gains and losses during the period because of timing of creation and redemption units in relation to fluctuating net asset value during the period. |
| † | Market values are determined at the close of the NYSE Arca, which may be later than when the Funds’ net asset value is calculated. |
| ^ | Percentages are not annualized for the period ended June 30, 2020. |
| Per Share Operating Performance |
UltraShort Euro |
UltraShort Gold |
UltraShort Silver |
UltraShort Yen |
VIX Mid-Term Futures ETF |
VIX Short-Term Futures ETF |
||||||||||||||||||
| Net asset value, at December 31, 2019 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Net investment income (loss) |
(1) |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | |||||||||||||
| Net realized and unrealized gain (loss)# |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||||
| Change in net asset value from operations |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||||
| Net asset value, at June 30, 2020 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at December 31, 2019 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at June 30, 2020 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Total Return, at net asset value^ |
( |
)% | ( |
)% | ( |
)% | ( |
)% | % | % | ||||||||||||||
| Total Return, at market value^ |
( |
)% | ( |
)% | ( |
)% | ( |
)% | % | % | ||||||||||||||
| Ratios to Average Net Assets** |
||||||||||||||||||||||||
| Expense ratio |
% | % | % | % | % | % | ||||||||||||||||||
| Expense ratio, excluding brokerage commissions and fees |
% | % | % | % | % | % | ||||||||||||||||||
| Net investment income gain (loss) |
( |
)% | ( |
)% | ( |
)% | ( |
)% | ( |
)% | ( |
)% | ||||||||||||
| ** | Percentages are annualized. |
| # | The amount shown for a share outstanding throughout the period may not accord with the change in aggregate gains and losses during the period because of timing of creation and redemption units in relation to fluctuating net asset value during the period. |
| † | Market values are determined at the close of the NYSE Arca, which may be later than when the Funds’ net asset value is calculated. |
| ^ | Percentages are not annualized for the period ended June 30, 2020. |
| (1) | Amount represents greater than $(0.005). |
| Per Share Operating Performance |
Short Euro |
Short VIX Short-Term Futures ETF |
Ultra Bloomberg Crude Oil * |
Ultra Bloomberg Natural Gas * |
Ultra Euro |
Ultra Gold |
||||||||||||||||||
| Net asset value, at December 31, 2018 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Net investment income (loss) |
||||||||||||||||||||||||
| Net realized and unrealized gain (loss)# |
( |
) | ( |
) | ||||||||||||||||||||
| Change in net asset value from operations |
( |
) | ( |
) | ||||||||||||||||||||
| Net asset value, at June 30, 2019 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at December 31, 2018 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at June 30, 2019 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Total Return, at net asset value^ |
% | % | % | ( |
)% | ( |
)% | % | ||||||||||||||||
| Total Return, at market value^ |
% | % | % | ( |
)% | ( |
)% | % | ||||||||||||||||
| Ratios to Average Net Assets** |
||||||||||||||||||||||||
| Expense ratio |
% | %^^ | % | % | % | % | ||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees |
% | % | % | % | % | % | ||||||||||||||||||
| Net investment income gain (loss) |
% | % | % | % | % | % | ||||||||||||||||||
| ** | Percentages are annualized. |
| # | The amount shown for a share outstanding throughout the period may not accord with the change in aggregate gains and losses during the period because of timing of creation and redemption units in relation to fluctuating net asset value during the period. |
| † | Market values are determined at the close of the NYSE Arca, which may be later than when the Funds’ net asset value is calculated. |
| ^ | Percentages are not annualized for the period ended June 30, 2019. |
| ^^ | Expense ratio, excluding non-recurring fees and expense is |
| Per Share Operating Performance |
Ultra Silver |
Ultra VIX Short-Term Futures ETF |
Ultra Yen |
UltraPro 3x Crude Oil ETF |
UltraPro 3x Short Crude Oil ETF * |
UltraShort Australian Dollar |
||||||||||||||||||
| Net asset value, at December 31, 2018 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Net investment income (loss) |
||||||||||||||||||||||||
| Net realized and unrealized gain (loss)# |
( |
) | ( |
) | ( |
) | ||||||||||||||||||
| Change in net asset value from operations |
( |
) | ( |
) | ( |
) | ||||||||||||||||||
| Net asset value, at June 30, 2019 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at December 31, 2018 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at June 30, 2019 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Total Return, at net asset value^ |
( |
)% | ( |
)% | % | % | ( |
)% | % | |||||||||||||||
| Total Return, at market value^ |
( |
)% | ( |
)% | % | % | ( |
)% | % | |||||||||||||||
| Ratios to Average Net Assets** |
||||||||||||||||||||||||
| Expense ratio |
% | %^^ | % | % | % | % | ||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees |
% | % | % | % | % | % | ||||||||||||||||||
| Net investment income gain (loss) |
% | % | % | % | % | % | ||||||||||||||||||
| ** | Percentages are annualized. |
| # | The amount shown for a share outstanding throughout the period may not accord with the change in aggregate gains and losses during the period because of timing of creation and redemption units in relation to fluctuating net asset value during the period. |
| † | Market values are determined at the close of the NYSE Arca, which may be later than when the Funds’ net asset value is calculated. |
| ^ | Percentages are not annualized for the period ended June 30, 2019. |
| ^^ | Expense ratio, excluding non-recurring fees and expense is |
| Per Share Operating Performance |
UltraShort Bloomberg Crude Oil |
UltraShort Bloomberg Natural Gas |
UltraShort Euro |
UltraShort Gold |
UltraShort Silver |
UltraShort Yen |
||||||||||||||||||
| Net asset value, at December 31, 2018 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Net investment income (loss) |
||||||||||||||||||||||||
| Net realized and unrealized gain (loss)# |
( |
) | ( |
) | ( |
) | ||||||||||||||||||
| Change in net asset value from operations |
( |
) | ( |
) | ( |
) | ||||||||||||||||||
| Net asset value, at June 30, 2019 |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at December 31, 2018 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Market value per share, at June 30, 2019 † |
$ | $ | $ | $ | $ | $ | ||||||||||||||||||
| Total Return, at net asset value^ |
( |
)% | % | % | ( |
)% | % | ( |
)% | |||||||||||||||
| Total Return, at market value^ |
( |
)% | % | % | ( |
)% | % | ( |
)% | |||||||||||||||
| Ratios to Average Net Assets** |
||||||||||||||||||||||||
| Expense ratio |
% | % | % | % | % | % | ||||||||||||||||||
| Expense ratio, excluding brokerage commissions and fees |
% | % | % | % | % | % | ||||||||||||||||||
| Net investment income gain (loss) |
% | % | % | % | % | % | ||||||||||||||||||
| ** | Percentages are annualized. |
| # | The amount shown for a share outstanding throughout the period may not accord with the change in aggregate gains and losses during the period because of timing of creation and redemption units in relation to fluctuating net asset value during the period. |
| † | Market values are determined at the close of the NYSE Arca, which may be later than when the Funds’ net asset value is calculated. |
| ^ | Percentages are not annualized for the period ended June 30, 2019. |
| Per Share Operating Performance |
VIX Mid-Term Futures ETF |
VIX Short-Term Futures ETF |
||||||
| Net asset value, at December 31, 2018 |
$ | $ | ||||||
| Net investment income (loss) |
||||||||
| Net realized and unrealized gain (loss)# |
( |
) | ( |
) | ||||
| Change in net asset value from operations |
( |
) | ( |
) | ||||
| Net asset value, at June 30, 2019 |
$ | $ | ||||||
| Market value per share, at December 31, 2018 † |
$ | $ | ||||||
| Market value per share, at June 30, 2019 † |
$ | $ | ||||||
| Total Return, at net asset value^ |
( |
)% | ( |
)% | ||||
| Total Return, at market value^ |
( |
)% | ( |
)% | ||||
| Ratios to Average Net Assets** |
||||||||
| Expense ratio |
% | % | ||||||
| Expense ratio, excluding brokerage commissions and fees |
% | % | ||||||
| Net investment income gain (loss) |
% | % | ||||||
| ** | Percentages are annualized. |
| # | The amount shown for a share outstanding throughout the period may not accord with the change in aggregate gains and losses during the period because of timing of creation and redemption units in relation to fluctuating net asset value during the period. |
| † | Market values are determined at the close of the NYSE Arca, which may be later than when the Funds’ net asset value is calculated. |
| ^ | Percentages are not annualized for the period ended June 30, 2019. |
| • | By the close of business on Tuesday, June 30, 2020, each Oil Fund had transitioned approximately half of its exposure to the September 2020 WTI crude oil futures contract into exposure to the October 2020 WTI crude oil futures contract. As a result of this transition, each Fund had approximately 1/3 of its portfolio exposed to the September 2020 WTI crude oil futures contract, approximately 1/3 of its portfolio exposed to the October 2020 WTI crude oil futures contract, and approximately 1/3 of its portfolio exposed to the December 2020 WTI crude oil futures contract on the close of business on Tuesday, June 30, 2020. |
| • | In addition, by the close of business on Wednesday, July 1, 2020, each Oil Fund had transitioned the remaining portion of its exposure to the September 2020 WTI crude oil futures contract into exposure to the November 2020 WTI crude oil futures contract. As a result of this transition, each Fund had approximately 1/3 of its portfolio exposed to the October 2020 WTI crude oil futures contract, approximately 1/3 of its portfolio exposed to the November 2020 WTI crude oil futures contract, and approximately 1/3 of its portfolio exposed to the December 2020 WTI crude oil futures contract on the close of business on Wednesday, July 1, 2020. |
| Fund |
Interest Income Three Months Ended June 30, 2020 * |
Interest Income Three Months Ended June 30, 2019 * |
Interest Income Six Months Ended June 30, 2020 * |
Interest Income Six Months Ended June 30, 2019 * |
||||||||||||
| ProShares Short Euro |
$ | 54 | $ | 125,445 | $ | 7,649 | $ | 190,623 | ||||||||
| ProShares Short VIX Short-Term Futures ETF |
106,023 | 1,883,798 | 855,884 | 3,468,359 | ||||||||||||
| ProShares Ultra Bloomberg Crude Oil |
365,747 | 2,163,795 | 1,767,207 | 4,304,180 | ||||||||||||
| ProShares Ultra Bloomberg Natural Gas |
36,474 | 139,008 | 175,813 | 256,843 | ||||||||||||
| ProShares Ultra Euro |
192 | 35,464 | 15,993 | 74,967 | ||||||||||||
| ProShares Ultra Gold |
69,857 | 409,424 | 484,541 | 825,009 | ||||||||||||
| ProShares Ultra Silver |
138,315 | 931,284 | 914,602 | 1,835,738 | ||||||||||||
| ProShares Ultra VIX Short-Term Futures ETF |
101,523 | 2,683,047 | 1,513,263 | 4,101,153 | ||||||||||||
| ProShares Ultra Yen |
62 | 18,875 | 8,929 | 45,884 | ||||||||||||
| ProShares UltraPro 3x Crude Oil ETF |
— | 623,652 | 346,326 |
1,238,995 | ||||||||||||
| ProShares UltraPro 3x Short Crude Oil ETF |
— | 105,502 | 166,789 |
177,007 | ||||||||||||
| ProShares UltraShort Australian Dollar |
42 | 47,222 | 20,096 | 95,764 | ||||||||||||
| ProShares UltraShort Bloomberg Crude Oil |
6,209 | 424,765 | 254,918 | 786,536 | ||||||||||||
| ProShares UltraShort Bloomberg Natural Gas |
1,371 | 48,278 | 43,803 | 108,153 | ||||||||||||
| ProShares UltraShort Euro |
68,027 | 805,304 | 467,684 | 1,579,922 | ||||||||||||
| ProShares UltraShort Gold |
2,259 | 102,278 | 63,280 | 197,489 | ||||||||||||
| ProShares UltraShort Silver |
651 | 86,447 | 45,187 | 156,561 | ||||||||||||
| ProShares UltraShort Yen |
5,143 | 298,433 | 131,326 | 590,801 | ||||||||||||
| ProShares VIX Mid-Term Futures ETF |
27,603 | 225,718 | 185,901 | 491,131 | ||||||||||||
| ProShares VIX Short-Term Futures ETF |
122,772 | 1,284,160 | 1,082,847 | 2,136,366 | ||||||||||||
| * | The operations include the activity of ProShares UltraPro 3x Crude Oil ETF through April 3, 2020, and ProShares UltraPro 3x Short Crude Oil ETF through April 13 , 2020, the date of liquidation, respectively . |
| • | executing and clearing trades with creditworthy counterparties, as determined by the Sponsor; |
| • | limiting the outstanding amounts due from counterparties to the Funds; |
| • | not posting margin directly with a counterparty; |
| • | requiring that the counterparty posts collateral in amounts approximately equal to that owed to the Funds, as marked to market daily, subject to certain minimum thresholds; |
| • | limiting the amount of margin or premium posted at a FCM; and |
| • | ensuring that deliverable contracts are not held to such a date when delivery of the underlying asset could be called for. |
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 2,332,843 | $ | 22,213,438 | ||||
| NAV end of period |
$ | 2,286,467 | $ | 22,127,403 | ||||
| Percentage change in NAV |
(2.0 | )% | (0.4 | )% | ||||
| Shares outstanding beginning of period |
50,000 | 500,000 | ||||||
| Shares outstanding end of period |
50,000 | 500,000 | ||||||
| Percentage change in shares outstanding |
— | % | — | % | ||||
| Shares created |
— | — | ||||||
| Shares redeemed |
— | — | ||||||
| Per share NAV beginning of period |
$ | 46.66 | $ | 44.43 | ||||
| Per share NAV end of period |
$ | 45.73 | $ | 44.25 | ||||
| Percentage change in per share NAV |
(2.0 | )% | (0.4 | )% | ||||
| Percentage change in benchmark |
1.90 | % | 1.4 | % | ||||
| Benchmark annualized volatility |
7.40 | % | 4.5 | % | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (5,552 | ) | $ | 71,866 | |||
| Management fee |
5,516 | 52,792 | ||||||
| Brokerage commission |
90 | 787 | ||||||
| Net realized gain (loss) |
(20,020 | ) | 76,518 | |||||
| Change in net unrealized appreciation (depreciation) |
(20,804 | ) | (234,419 | ) | ||||
| Net Income (loss) |
$ | (46,376 | ) | $ | (86,035 | ) | ||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 809,257,658 | $ | 441,188,509 | ||||
| NAV end of period |
$ | 509,811,853 | $ | 337,102,327 | ||||
| Percentage change in NAV |
(37.0 | )% | (23.6 | )% | ||||
| Shares outstanding beginning of period |
26,084,307 | 8,434,307 | ||||||
| Shares outstanding end of period |
16,234,307 | 6,184,307 | ||||||
| Percentage change in shares outstanding |
(37.8 | )% | (26.7 | )% | ||||
| Shares created |
1,000,000 | — | ||||||
| Shares redeemed |
10,850,000 | 2,250,000 | ||||||
| Per share NAV beginning of period |
$ | 31.02 | $ | 52.31 | ||||
| Per share NAV end of period |
$ | 31.40 | $ | 54.51 | ||||
| Percentage change in per share NAV |
1.2 | % | 4.2 | % | ||||
| Percentage change in benchmark |
(26.1 | )% | (13.2 | )% | ||||
| Benchmark annualized volatility |
122.3 | % | 59.9 | % | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (2,142,980 | ) | $ | 725,505 | |||
| Management fee |
1,589,036 | 938,696 | ||||||
| Brokerage commission |
228,176 | 219,597 | ||||||
| Non-recurring fees and expenses |
— | — | ||||||
| Net realized gain (loss) |
54,615,005 | 11,427,588 | ||||||
| Change in net unrealized appreciation (depreciation) |
(22,301,329 | ) | 4,568,486 | |||||
| Net Income (loss) |
$ | 30,170,696 | $ | 16,721,579 | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 435,593,381 | $ | 425,287,296 | ||||
| NAV end of period |
$ | 1,508,661,459 | $ | 381,980,628 | ||||
| Percentage change in NAV |
246.3 | % | (10.2 | )% | ||||
| Shares outstanding beginning of period |
10,848,453 | 790,453 | ||||||
| Shares outstanding end of period |
52,760,774 | 778,453 | ||||||
| Percentage change in shares outstanding |
386.3 | % | (1.5 | )% | ||||
| Shares created |
77,482,000 | 284,000 | ||||||
| Shares redeemed |
35,569,679 | 296,000 | ||||||
| Per share NAV beginning of period |
$ | 40.15 | $ | 538.03 | ||||
| Per share NAV end of period |
$ | 28.59 | $ | 490.69 | ||||
| Percentage change in per share NAV |
(28.8 | )% | (8.8 | )% | ||||
| Percentage change in benchmark |
23.6 | % | (2.8 | )% | ||||
| Benchmark annualized volatility |
116.3 | % | 31.5 | % | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (3,994,835 | ) | $ | 1,231,167 | |||
| Management fee |
2,806,288 | 898,556 | ||||||
| Brokerage commission |
1,017,545 | 34,072 | ||||||
| Net realized gain (loss) |
(671,420,708 | ) | (25,907,850 | ) | ||||
| Change in net unrealized appreciation (depreciation) |
661,178,846 | 14,161,522 | ||||||
| Net Income (loss) |
$ | (14,236,697 | ) | $ | (10,515,161 | ) | ||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 26,671,617 | $ | 20,900,095 | ||||
| NAV end of period |
$ | 50,599,783 | $ | 33,637,758 | ||||
| Percentage change in NAV |
89.7 | % | 60.9 | % | ||||
| Shares outstanding beginning of period |
637,815 | 102,815 | ||||||
| Shares outstanding end of period |
1,787,527 | 242,815 | ||||||
| Percentage change in shares outstanding |
180.3 | % | 136.2 | % | ||||
| Shares created |
1,260,000 | 155,000 | ||||||
| Shares redeemed |
110,288 | 15,000 | ||||||
| Per share NAV beginning of period |
$ | 41.82 | $ | 203.28 | ||||
| Per share NAV end of period |
$ | 28.31 | $ | 138.53 | ||||
| Percentage change in per share NAV |
(32.3 | )% | (31.9 | )% | ||||
| Percentage change in benchmark |
(14.2 | )% | (16.2 | )% | ||||
| Benchmark annualized volatility |
56.4 | % | 27.9 | % | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (121,296 | ) | $ | 49,884 | |||
| Management fee |
81,904 | 60,844 | ||||||
| Brokerage commission |
63,224 | 28,280 | ||||||
| Net realized gain (loss) |
(16,111,238 | ) | (7,975,969 | ) | ||||
| Change in net unrealized appreciation (depreciation) |
4,853,272 | (670,693 | ) | |||||
| Net Income (loss) |
$ | (11,379,262 | ) | $ | (8,596,778 | ) | ||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 3,949,142 | $ | 7,857,207 | ||||
| NAV end of period |
$ | 4,067,686 | $ | 5,801,170 | ||||
| Percentage change in NAV |
3.0 | % | (26.2 | )% | ||||
| Shares outstanding beginning of period |
300,000 | 550,000 | ||||||
| Shares outstanding end of period |
300,000 | 400,000 | ||||||
| Percentage change in shares outstanding |
— | % | (27.3 | )% | ||||
| Shares created |
50,000 | — | ||||||
| Shares redeemed |
50,000 | 150,000 | ||||||
| Per share NAV beginning of period |
$ | 13.16 | $ | 14.29 | ||||
| Per share NAV end of period |
$ | 13.56 | $ | 14.50 | ||||
| Percentage change in per share NAV |
3.0 | % | 1.5 | % | ||||
| Percentage change in benchmark |
1.9 | % | 1.4 | % | ||||
| Benchmark annualized volatility |
7.4 | % | 4.5 | % | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (8,702 | ) | $ | 18,923 | |||
| Management fee |
8,894 | 16,541 | ||||||
| Net realized gain (loss) |
(18,635 | ) | (132,599 | ) | ||||
| Change in net unrealized appreciation (depreciation) |
97,408 | 208,577 | ||||||
| Net Income (loss) |
$ | 70,071 | $ | 94,901 | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 128,481,796 | $ | 72,777,302 | ||||
| NAV end of period |
$ | 165,689,050 | $ | 85,377,335 | ||||
| Percentage change in NAV |
29.0 | % | 17.3 | % | ||||
| Shares outstanding beginning of period |
2,450,000 | 1,950,000 | ||||||
| Shares outstanding end of period |
2,550,000 | 1,950,000 | ||||||
| Percentage change in shares outstanding |
4.1 | % | — | % | ||||
| Shares created |
300,000 | 350,000 | ||||||
| Shares redeemed |
200,000 | 350,000 | ||||||
| Per share NAV beginning of period |
$ | 52.44 | $ | 37.32 | ||||
| Per share NAV end of period |
$ | 64.98 | $ | 43.78 | ||||
| Percentage change in per share NAV |
23.9 | % | 17.3 | % | ||||
| Percentage change in benchmark |
12.1 | % | 9.0 | % | ||||
| Benchmark annualized volatility |
19.7 | % | 11.5 | % | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (279,921 | ) | $ | 228,086 | |||
| Management fee |
333,463 | 178,772 | ||||||
| Brokerage commission |
6,119 | 2,566 | ||||||
| Net realized gain (loss) |
4,365,328 | 3,488,357 | ||||||
| Change in net unrealized appreciation (depreciation) |
25,893,012 | 8,697,049 | ||||||
| Net Income (loss) |
$ | 29,978,419 | $ | 12,413,492 | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 129,785,535 | $ | 171,571,571 | ||||
| NAV end of period |
$ | 249,671,968 | $ | 178,444,838 | ||||
| Percentage change in NAV |
92.4 | % | 4.0 | % | ||||
| Shares outstanding beginning of period |
7,046,526 | 6,996,526 | ||||||
| Shares outstanding end of period |
8,446,526 | 7,246,526 | ||||||
| Percentage change in shares outstanding |
19.9 | % | 3.6 | % | ||||
| Shares created |
1,500,000 | 900,000 | ||||||
| Shares redeemed |
100,000 | 650,000 | ||||||
| Per share NAV beginning of period |
$ | 18.42 | $ | 24.52 | ||||
| Per share NAV end of period |
$ | 29.56 | $ | 24.62 | ||||
| Percentage change in per share NAV |
60.5 | % | 0.4 | % | ||||
| Percentage change in benchmark |
29.2 | % | 1.0 | % | ||||
| Benchmark annualized volatility |
37.1 | % | 15.6 | % | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (335,243 | ) | $ | 512,068 | |||
| Management fee |
425,646 | 410,131 | ||||||
| Brokerage commission |
26,966 | 9,085 | ||||||
| Net realized gain (loss) |
11,386,313 | (8,015,752 | ) | |||||
| Change in net unrealized appreciation (depreciation) |
69,302,060 | 8,501,389 | ||||||
| Net Income (loss) |
$ | 80,353,130 | $ | 997,705 | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 592,820,492 | $ | 547,243,246 | ||||
| NAV end of period |
$ | 992,156,607 | $ | 529,341,464 | ||||
| Percentage change in NAV |
67.4 | % | (3.3 | )% | ||||
| Shares outstanding beginning of period |
10,130,912 | 14,030,912 | ||||||
| Shares outstanding end of period |
30,130,912 | 17,430,912 | ||||||
| Percentage change in shares outstanding |
197.4 | % | 24.2 | % | ||||
| Shares created |
24,850,000 | 17,050,000 | ||||||
| Shares redeemed |
4,850,000 | 13,650,000 | ||||||
| Per share NAV beginning of period |
$ | 58.52 | $ | 39.00 | ||||
| Per share NAV end of period |
$ | 32.93 | $ | 30.37 | ||||
| Percentage change in per share NAV |
(43.7 | )% | (22.1 | )% | ||||
| Percentage change in benchmark |
(26.1 | )% | (13.2 | )% | ||||
| Benchmark annualized volatility |
122.3 | % | 59.9 | % | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (2,085,756 | ) | $ | 507,125 | |||
| Management fee |
1,293,878 | 1,356,237 | ||||||
| Brokerage commission |
438,851 | 819,685 | ||||||
| Net realized gain (loss) |
(107,880,791 | ) | (54,976,168 | ) | ||||
| Change in net unrealized appreciation (depreciation) |
(125,500,879 | ) | (39,563,092 | ) | ||||
| Net Income (loss) |
$ | (235,467,426 | ) | $ | (94,032,135 | ) | ||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 2,808,780 | $ | 5,563,510 | ||||
| NAV end of period |
$ | 2,764,355 | $ | 5,807,397 | ||||
| Percentage change in NAV |
(1.6 | )% | 4.4 | % | ||||
| Shares outstanding beginning of period |
49,970 | 99,970 | ||||||
| Shares outstanding end of period |
49,970 | 99,970 | ||||||
| Percentage change in shares outstanding |
— | % | — | % | ||||
| Shares created |
— | 50,000 | ||||||
| Shares redeemed |
— | 50,000 | ||||||
| Per share NAV beginning of period |
$ | 56.21 | $ | 55.65 | ||||
| Per share NAV end of period |
$ | 55.32 | $ | 58.09 | ||||
| Percentage change in per share NAV |
(1.6 | )% | 4.4 | % | ||||
| Percentage change in benchmark |
(0.4 | )% | 2.8 | % | ||||
| Benchmark annualized volatility |
6.2 | % | 4.8 | % | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (6,539 | ) | $ | 9,668 | |||
| Management fee |
6,601 | 9,207 | ||||||
| Net realized gain (loss) |
(106,753 | ) | 171,283 | |||||
| Change in net unrealized appreciation (depreciation) |
68,867 | (16,451 | ) | |||||
| Net Income (loss) |
$ | (44,425 | ) | $ | 164,500 | |||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 7,230,367 | $ | 8,162,647 | ||||
| NAV end of period |
$ | 5,614,042 | $ | 8,364,065 | ||||
| Percentage change in NAV |
(22.4 | )% | 2.5 | % | ||||
| Shares outstanding beginning of period |
100,000 | 150,000 | ||||||
| Shares outstanding end of period |
100,000 | 150,000 | ||||||
| Percentage change in shares outstanding |
— | % | — | % | ||||
| Shares created |
— | — | ||||||
| Shares redeemed |
— | — | ||||||
| Per share NAV beginning of period |
$ | 72.30 | $ | 54.42 | ||||
| Per share NAV end of period |
$ | 56.14 | $ | 55.76 | ||||
| Percentage change in per share NAV |
(22.4 | )% | 2.5 | % | ||||
| Percentage change in benchmark |
12.3 | % | (1.1 | )% | ||||
| Benchmark annualized volatility |
14.2 | % | 6.3 | % | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (16,185 | ) | $ | 25,895 | |||
| Management fee |
14,888 | 19,898 | ||||||
| Brokerage commission |
1,339 | 1,429 | ||||||
| Net realized gain (loss) |
(1,037,904 | ) | 250,116 | |||||
| Change in net unrealized appreciation (depreciation) |
(562,236 | ) | (74,593 | ) | ||||
| Net Income (loss) |
$ | (1,616,325 | ) | $ | 201,418 | |||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 100,094,023 | $ | 75,826,687 | ||||
| NAV end of period |
$ | 117,821,898 | $ | 68,096,767 | ||||
| Percentage change in NAV |
17.7 | % | (10.2 | )% | ||||
| Shares outstanding beginning of period |
2,039,884 | 4,489,884 | ||||||
| Shares outstanding end of period |
6,439,884 | 4,039,884 | ||||||
| Percentage change in shares outstanding |
215.7 | % | (10.0 | )% | ||||
| Shares created |
19,000,000 | 4,850,000 | ||||||
| Shares redeemed |
14,600,000 | 5,300,000 | ||||||
| Per share NAV beginning of period |
$ | 49.07 | $ | 16.89 | ||||
| Per share NAV end of period |
$ | 18.30 | $ | 16.86 | ||||
| Percentage change in per share NAV |
(62.7 | )% | (0.2 | )% | ||||
| Percentage change in benchmark |
23.6 | % | (2.8 | )% | ||||
| Benchmark annualized volatility |
116.3 | % | 31.5 | % | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (782,726 | ) | $ | 215,797 | |||
| Management fee |
348,900 | 190,096 | ||||||
| Brokerage commission |
346,732 | 18,872 | ||||||
| Net realized gain (loss) |
(6,947,347 | ) | 10,124,322 | |||||
| Change in net unrealized appreciation (depreciation) |
(75,201,725 | ) | (2,543,494 | ) | ||||
| Net Income (loss) |
$ | (82,931,798 | ) | $ | 7,796,625 | |||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 17,419,933 | $ | 13,019,491 | ||||
| NAV end of period |
$ | 28,552,210 | $ | 3,838,842 | ||||
| Percentage change in NAV |
63.9 | % | (70.5 | )% | ||||
| Shares outstanding beginning of period |
274,832 | 574,832 | ||||||
| Shares outstanding end of period |
424,832 | 124,832 | ||||||
| Percentage change in shares outstanding |
54.6 | % | (78.3 | )% | ||||
| Shares created |
650,000 | 250,000 | ||||||
| Shares redeemed |
500,000 | 700,000 | ||||||
| Per share NAV beginning of period |
$ | 63.38 | $ | 22.65 | ||||
| Per share NAV end of period |
$ | 67.21 | $ | 30.75 | ||||
| Percentage change in per share NAV |
6.0 | % | 35.8 | % | ||||
| Percentage change in benchmark |
(14.2 | )% | (16.2 | )% | ||||
| Benchmark annualized volatility |
56.4 | % | 27.9 | % | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (87,047 | ) | $ | 11,719 | |||
| Management fee |
36,607 | 20,378 | ||||||
| Brokerage commission |
46,462 | 16,181 | ||||||
| Net realized gain (loss) |
5,236,091 | 3,449,841 | ||||||
| Change in net unrealized appreciation (depreciation) |
(2,774,639 | ) | (546,185 | ) | ||||
| Net Income (loss) |
$ | 2,374,405 | $ | 2,915,375 | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 93,194,599 | $ | 151,445,608 | ||||
| NAV end of period |
$ | 78,848,965 | $ | 134,573,471 | ||||
| Percentage change in NAV |
(15.4 | )% | (11.1 | )% | ||||
| Shares outstanding beginning of period |
3,350,000 | 5,900,000 | ||||||
| Shares outstanding end of period |
2,950,000 | 5,300,000 | ||||||
| Percentage change in shares outstanding |
(11.9 | )% | (10.2 | )% | ||||
| Shares created |
150,000 | 100,000 | ||||||
| Shares redeemed |
550,000 | 700,000 | ||||||
| Per share NAV beginning of period |
$ | 27.82 | $ | 25.67 | ||||
| Per share NAV end of period |
$ | 26.73 | $ | 25.39 | ||||
| Percentage change in per share NAV |
(3.9 | )% | (1.1 | )% | ||||
| Percentage change in benchmark |
1.9 | % | 1.4 | % | ||||
| Benchmark annualized volatility |
7.4 | % | 4.5 | % | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (145,604 | ) | $ | 471,256 | |||
| Management fee |
213,631 | 334,048 | ||||||
| Net realized gain (loss) |
(2,285,868 | ) | 1,947,370 | |||||
| Change in net unrealized appreciation (depreciation) |
(1,269,683 | ) | (3,843,749 | ) | ||||
| Net Income (loss) |
$ | (3,701,155 | ) | $ | (1,425,123 | ) | ||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 20,569,044 | $ | 21,506,707 | ||||
| NAV end of period |
$ | 15,851,043 | $ | 18,158,403 | ||||
| Percentage change in NAV |
(22.9 | )% | (15.6 | )% | ||||
| Shares outstanding beginning of period |
446,977 | 296,977 | ||||||
| Shares outstanding end of period |
446,977 | 296,977 | ||||||
| Percentage change in shares outstanding |
0.0 | % | — | % | ||||
| Shares created |
150,000 | 300,000 | ||||||
| Shares redeemed |
150,000 | 300,000 | ||||||
| Per share NAV beginning of period |
$ | 46.02 | $ | 72.42 | ||||
| Per share NAV end of period |
$ | 35.46 | $ | 61.14 | ||||
| Percentage change in per share NAV |
(22.9 | )% | (15.6 | )% | ||||
| Percentage change in benchmark |
12.1 | % | 9.0 | % | ||||
| Benchmark annualized volatility |
19.7 | % | 11.5 | % | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (41,386 | ) | $ | 52,582 | |||
| Management fee |
40,621 | 48,056 | ||||||
| Brokerage commission |
1,659 | 1,640 | ||||||
| Net realized gain (loss) |
(2,089,271 | ) | (1,900,735 | ) | ||||
| Change in net unrealized appreciation (depreciation) |
(2,638,931 | ) | (1,357,012 | ) | ||||
| Net Income (loss) |
$ | (4,769,588 | ) | $ | (3,205,165 | ) | ||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 18,887,831 | $ | 20,253,916 | ||||
| NAV end of period |
$ | 10,145,625 | $ | 14,026,041 | ||||
| Percentage change in NAV |
(46.3 | )% | (30.7 | )% | ||||
| Shares outstanding beginning of period |
516,976 | 516,976 | ||||||
| Shares outstanding end of period |
516,976 | 366,976 | ||||||
| Percentage change in shares outstanding |
— | % | (29.0 | )% | ||||
| Shares created |
600,000 | 250,000 | ||||||
| Shares redeemed |
600,000 | 400,000 | ||||||
| Per share NAV beginning of period |
$ | 36.54 | $ | 39.18 | ||||
| Per share NAV end of period |
$ | 19.62 | $ | 38.22 | ||||
| Percentage change in per share NAV |
(46.3 | )% | (2.5 | )% | ||||
| Percentage change in benchmark |
29.2 | % | 1.0 | % | ||||
| Benchmark annualized volatility |
37.1 | % | 15.6 | % | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (30,713 | ) | $ | 42,177 | |||
| Management fee |
25,749 | 41,444 | ||||||
| Brokerage commission |
3,940 | 2,826 | ||||||
| Net realized gain (loss) |
(3,877,739 | ) | 469,531 | |||||
| Change in net unrealized appreciation (depreciation) |
(2,754,071 | ) | (1,066,289 | ) | ||||
| Net Income (loss) |
$ | (6,662,523 | ) | $ | (554,581 | ) | ||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 29,586,170 | $ | 49,650,541 | ||||
| NAV end of period |
$ | 29,787,034 | $ | 47,695,345 | ||||
| Percentage change in NAV |
0.7 | % | (3.9 | )% | ||||
| Shares outstanding beginning of period |
399,290 | 649,290 | ||||||
| Shares outstanding end of period |
399,290 | 649,290 | ||||||
| Percentage change in shares outstanding |
— | % | — | % | ||||
| Shares created |
50,000 | 50,000 | ||||||
| Shares redeemed |
50,000 | 50,000 | ||||||
| Per share NAV beginning of period |
$ | 74.10 | $ | 76.47 | ||||
| Per share NAV end of period |
$ | 74.60 | $ | 73.46 | ||||
| Percentage change in per share NAV |
0.7 | % | (3.9 | )% | ||||
| Percentage change in benchmark |
(0.4 | )% | 2.8 | % | ||||
| Benchmark annualized volatility |
6.2 | % | 4.8 | % | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (59,287 | ) | $ | 175,443 | |||
| Management fee |
64,430 | 122,990 | ||||||
| Net realized gain (loss) |
110,748 | (2,600,562 | ) | |||||
| Change in net unrealized appreciation (depreciation) |
66,461 | 283,682 | ||||||
| Net Income (loss) |
$ | 117,922 | $ | (2,141,437 | ) | |||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 45,034,386 | $ | 51,126,469 | ||||
| NAV end of period |
$ | 59,085,470 | $ | 37,756,409 | ||||
| Percentage change in NAV |
31.2 | % | (26.2 | )% | ||||
| Shares outstanding beginning of period |
1,162,403 | 2,362,403 | ||||||
| Shares outstanding end of period |
1,462,403 | 1,762,403 | ||||||
| Percentage change in shares outstanding |
25.8 | % | (25.4 | )% | ||||
| Shares created |
725,000 | 275,000 | ||||||
| Shares redeemed |
425,000 | 875,000 | ||||||
| Per share NAV beginning of period |
$ | 38.74 | $ | 21.64 | ||||
| Per share NAV end of period |
$ | 40.40 | $ | 21.42 | ||||
| Percentage change in per share NAV |
4.3 | % | (1.0 | )% | ||||
| Percentage change in benchmark |
4.6 | % | (0.8 | )% | ||||
| Benchmark annualized volatility |
61.3 | % | 24.4 | % | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (133,713 | ) | $ | 133,606 | |||
| Management fee |
124,276 | 82,759 | ||||||
| Brokerage commission |
16,684 | 9,353 | ||||||
| Net realized gain (loss) |
13,196,415 | (2,853,263 | ) | |||||
| Change in net unrealized appreciation (depreciation) |
(12,313,533 | ) | 2,001,125 | |||||
| Net Income (loss) |
$ | 749,169 | $ | (718,532 | ) | |||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 223,055,354 | $ | 203,503,203 | ||||
| NAV end of period |
$ | 221,343,175 | $ | 240,473,128 | ||||
| Percentage change in NAV |
(0.8 | )% | 18.2 | % | ||||
| Shares outstanding beginning of period |
5,876,317 | 8,451,317 | ||||||
| Shares outstanding end of period |
7,926,317 | 11,526,317 | ||||||
| Percentage change in shares outstanding |
34.9 | % | 36.4 | % | ||||
| Shares created |
3,875,000 | 5,900,000 | ||||||
| Shares redeemed |
1,825,000 | 2,825,000 | ||||||
| Per share NAV beginning of period |
$ | 37.96 | $ | 24.08 | ||||
| Per share NAV end of period |
$ | 27.93 | $ | 20.86 | ||||
| Percentage change in per share NAV |
(26.4 | )% | (13.4 | )% | ||||
| Percentage change in benchmark |
(26.1 | )% | (13.2 | )% | ||||
| Benchmark annualized volatility |
122.3 | % | 59.9 | % | ||||
Three Months Ended June 30, 2020 |
Three Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (443,622 | ) | $ | 724,602 | |||
| Management fee |
398,044 | 486,543 | ||||||
| Brokerage commission |
60,097 | 70,747 | ||||||
| Net realized gain (loss) |
(845,717 | ) | (11,286,520 | ) | ||||
| Change in net unrealized appreciation (depreciation) |
(51,868,970 | ) | (11,796,301 | ) | ||||
| Net Income (loss) |
$ | (53,158,309 | ) | $ | (22,358,219 | ) | ||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 2,282,195 | $ | 8,619,686 | ||||
| NAV end of period |
$ | 2,286,467 | $ | 22,127,403 | ||||
| Percentage change in NAV |
0.2 | % | 156.7 | % | ||||
| Shares outstanding beginning of period |
50,000 | 200,000 | ||||||
| Shares outstanding end of period |
50,000 | 500,000 | ||||||
| Percentage change in shares outstanding |
— | % | 150.0 | % | ||||
| Shares created |
— | 300,000 | ||||||
| Shares redeemed |
— | — | ||||||
| Per share NAV beginning of period |
$ | 45.64 | $ | 43.10 | ||||
| Per share NAV end of period |
$ | 45.73 | $ | 44.25 | ||||
| Percentage change in per share NAV |
0.2 | % | 2.7 | % | ||||
| Percentage change in benchmark |
0.2 | % | (0.8 | )% | ||||
| Benchmark annualized volatility |
8.7 | % | 5.5 | % | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (3,560 | ) | $ | 109,491 | |||
| Management fee |
11,019 | 79,777 | ||||||
| Brokerage commission |
190 | 1,355 | ||||||
| Net realized gain (loss) |
(38,658 | ) | 223,624 | |||||
| Change in net unrealized appreciation (depreciation) |
46,490 | (30,548 | ) | |||||
| Net Income (loss) |
$ | 4,272 | $ | 302,567 | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 284,437,179 | $ | 344,596,263 | ||||
| NAV end of period |
$ | 509,811,853 | $ | 337,102,327 | ||||
| Percentage change in NAV |
79.2 | % | (2.2 | )% | ||||
| Shares outstanding beginning of period |
4,334,307 | 8,134,307 | ||||||
| Shares outstanding end of period |
16,234,307 | 6,184,307 | ||||||
| Percentage change in shares outstanding |
274.6 | % | (24.0 | )% | ||||
| Shares created |
25,850,000 | 300,000 | ||||||
| Shares redeemed |
13,950,000 | 2,250,000 | ||||||
| Per share NAV beginning of period |
$ | 65.62 | $ | 42.36 | ||||
| Per share NAV end of period |
$ | 31.40 | $ | 54.51 | ||||
| Percentage change in per share NAV |
(52.1 | )% | 28.7 | % | ||||
| Percentage change in benchmark |
128.5 | % | (45.7 | )% | ||||
| Benchmark annualized volatility |
132.5 | % | 55.9 | % | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (2,498,576 | ) | $ | 770,941 | |||
| Management fee |
2,475,233 | 1,890,823 | ||||||
| Brokerage commission |
417,708 | 408,021 | ||||||
| Non-recurring fees and expenses |
— | 398,550 | ||||||
| Net realized gain (loss) |
(189,685,599 | ) | 70,532,942 | |||||
| Change in net unrealized appreciation (depreciation) |
(1,245,671 | ) | 27,139,946 | |||||
| Net Income (loss) |
$ | (193,429,846 | ) | $ | 98,443,829 | |||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 309,844,582 | $ | 368,399,654 | ||||
| NAV end of period |
$ | 1,508,661,459 | $ | 381,980,628 | ||||
| Percentage change in NAV |
386.9 | % | 3.7 | % | ||||
| Shares outstanding beginning of period |
608,453 | 1,128,453 | ||||||
| Shares outstanding end of period |
52,760,774 | 778,453 | ||||||
| Percentage change in shares outstanding |
8,571.3 | % | (31.0 | )% | ||||
| Shares created |
88,162,000 | 416,000 | ||||||
| Shares redeemed |
36,009,679 | 766,000 | ||||||
| Per share NAV beginning of period |
$ | 509.23 | $ | 326.46 | ||||
| Per share NAV end of period |
$ | 28.59 | $ | 490.69 | ||||
| Percentage change in per share NAV |
(94.4 | )% | 50.3 | % | ||||
| Percentage change in benchmark |
(58.6 | )% | 26.5 | % | ||||
| Benchmark annualized volatility |
109.8 | % | 29.2 | % | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (3,589,951 | ) | $ | 2,327,111 | |||
| Management fee |
3,676,527 | 1,923,750 | ||||||
| Brokerage commission |
1,143,882 | 53,319 | ||||||
| Net realized gain (loss) |
(1,176,974,505 | ) | 50,615,554 | |||||
| Change in net unrealized appreciation (depreciation) |
338,757,185 | 157,560,555 | ||||||
| Net Income (loss) |
$ | (841,807,271 | ) | $ | 210,503,220 | |||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 45,160,205 | $ | 14,617,440 | ||||
| NAV end of period |
$ | 50,599,783 | $ | 33,637,758 | ||||
| Percentage change in NAV |
12.0 | % | 130.1 | % | ||||
| Shares outstanding beginning of period |
537,815 | 57,815 | ||||||
| Shares outstanding end of period |
1,787,527 | 242,815 | ||||||
| Percentage change in shares outstanding |
232.4 | % | 320.0 | % | ||||
| Shares created |
1,485,000 | 285,000 | ||||||
| Shares redeemed |
235,288 | 100,000 | ||||||
| Per share NAV beginning of period |
$ | 83.97 | $ | 252.83 | ||||
| Per share NAV end of period |
$ | 28.31 | $ | 138.53 | ||||
| Percentage change in per share NAV |
(66.3 | )% | (45.2 | )% | ||||
| Percentage change in benchmark |
(37.8 | )% | (22.8 | )% | ||||
| Benchmark annualized volatility |
50.5 | % | 35.7 | % | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (123,647 | ) | $ | 93,929 | |||
| Management fee |
179,012 | 115,695 | ||||||
| Brokerage commission |
107,806 | 47,219 | ||||||
| Net realized gain (loss) |
(38,929,789 | ) | (21,277,866 | ) | ||||
| Change in net unrealized appreciation (depreciation) |
416,235 | 9,674,305 | ||||||
| Net Income (loss) |
$ | (38,637,201 | ) | $ | (11,509,632 | ) | ||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 6,204,424 | $ | 7,544,569 | ||||
| NAV end of period |
$ | 4,067,686 | $ | 5,801,170 | ||||
| Percentage change in NAV |
(34.4 | )% | (23.1 | )% | ||||
| Shares outstanding beginning of period |
450,000 | 500,000 | ||||||
| Shares outstanding end of period |
300,000 | 400,000 | ||||||
| Percentage change in shares outstanding |
(33.3 | )% | (20.0 | )% | ||||
| Shares created |
100,000 | 50,000 | ||||||
| Shares redeemed |
250,000 | 150,000 | ||||||
| Per share NAV beginning of period |
$ | 13.79 | $ | 15.09 | ||||
| Per share NAV end of period |
$ | 13.56 | $ | 14.50 | ||||
| Percentage change in per share NAV |
(1.7 | )% | (3.9 | )% | ||||
| Percentage change in benchmark |
0.2 | % | (0.8 | )% | ||||
| Benchmark annualized volatility |
8.7 | % | 5.5 | % | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (5,455 | ) | $ | 39,752 | |||
| Management fee |
21,448 | 35,215 | ||||||
| Net realized gain (loss) |
(71,903 | ) | (359,872 | ) | ||||
| Change in net unrealized appreciation (depreciation) |
(124,134 | ) | (16,908 | ) | ||||
| Net Income (loss) |
$ | (201,492 | ) | $ | (337,028 | ) | ||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 110,726,032 | $ | 83,523,294 | ||||
| NAV end of period |
$ | 165,689,050 | $ | 85,377,335 | ||||
| Percentage change in NAV |
49.6 | % | 2.2 | % | ||||
| Shares outstanding beginning of period |
2,250,000 | 2,250,000 | ||||||
| Shares outstanding end of period |
2,550,000 | 1,950,000 | ||||||
| Percentage change in shares outstanding |
13.3 | % | (13.3 | )% | ||||
| Shares created |
1,450,000 | 400,000 | ||||||
| Shares redeemed |
1,150,000 | 700,000 | ||||||
| Per share NAV beginning of period |
$ | 49.21 | $ | 37.12 | ||||
| Per share NAV end of period |
$ | 64.98 | $ | 43.78 | ||||
| Percentage change in per share NAV |
32.0 | % | 17.9 | % | ||||
| Percentage change in benchmark |
17.1 | % | 10.0 | % | ||||
| Benchmark annualized volatility |
50.5 | % | 10.8 | % | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (171,013 | ) | $ | 440,872 | |||
| Management fee |
628,874 | 380,350 | ||||||
| Brokerage commission |
16,484 | 3,787 | ||||||
| Net realized gain (loss) |
25,863,384 | 7,580,942 | ||||||
| Change in net unrealized appreciation (depreciation) |
6,795,652 | 4,884,290 | ||||||
| Net Income (loss) |
$ | 32,488,023 | $ | 12,906,104 | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 239,254,842 | $ | 201,824,376 | ||||
| NAV end of period |
$ | 249,671,968 | $ | 178,444,838 | ||||
| Percentage change in NAV |
4.4 | % | (11.6 | )% | ||||
| Shares outstanding beginning of period |
7,546,526 | 7,646,526 | ||||||
| Shares outstanding end of period |
8,446,526 | 7,246,526 | ||||||
| Percentage change in shares outstanding |
11.9 | % | (5.2 | )% | ||||
| Shares created |
2,250,000 | 1,300,000 | ||||||
| Shares redeemed |
1,350,000 | 1,700,000 | ||||||
| Per share NAV beginning of period |
$ | 31.70 | $ | 26.39 | ||||
| Per share NAV end of period |
$ | 29.56 | $ | 24.62 | ||||
| Percentage change in per share NAV |
(6.8 | )% | (6.7 | )% | ||||
| Percentage change in benchmark |
1.9 | % | (1.8 | )% | ||||
| Benchmark annualized volatility |
43.3 | % | 15.4 | % | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (58,411 | ) | $ | 957,627 | |||
| Management fee |
906,893 | 864,406 | ||||||
| Brokerage commission |
45,174 | 13,702 | ||||||
| Net realized gain (loss) |
7,688,659 | 5,286,170 | ||||||
| Change in net unrealized appreciation (depreciation) |
(15,759,771 | ) | (18,388,937 | ) | ||||
| Net Income (loss) |
$ | (8,129,523 | ) | $ | (12,145,140 | ) | ||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 527,636,003 | $ | 214,304,871 | ||||
| NAV end of period |
$ | 992,156,607 | $ | 529,341,464 | ||||
| Percentage change in NAV |
88.0 | % | 147.0 | % | ||||
| Shares outstanding beginning of period |
41,630,912 | 2,630,912 | ||||||
| Shares outstanding end of period |
30,130,912 | 17,430,912 | ||||||
| Percentage change in shares outstanding |
(27.6 | )% | 562.5 | % | ||||
| Shares created |
34,750,000 | 32,200,000 | ||||||
| Shares redeemed |
46,250,000 | 17,400,000 | ||||||
| Per share NAV beginning of period |
$ | 12.67 | $ | 81.46 | ||||
| Per share NAV end of period |
$ | 32.93 | $ | 30.37 | ||||
| Percentage change in per share NAV |
159.8 | % | (62.7 | )% | ||||
| Percentage change in benchmark |
128.5 | % | (45.7 | )% | ||||
| Benchmark annualized volatility |
132.5 | % | 55.9 | % | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (2,815,021 | ) | $ | 356,496 | |||
| Management fee |
2,677,153 | 2,321,769 | ||||||
| Brokerage commission |
1,179,860 | 1,395,316 | ||||||
| Non-recurring fees and expenses |
— | 27,508 | ||||||
| Net realized gain (loss) |
618,204,440 | (250,199,509 | ) | |||||
| Change in net unrealized appreciation (depreciation) |
51,016,036 | (78,621,075 | ) | |||||
| Net Income (loss) |
$ | 666,405,455 | $ | (328,464,088 | ) | |||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 5,580,964 | $ | 5,751,716 | ||||
| NAV end of period |
$ | 2,764,355 | $ | 5,807,397 | ||||
| Percentage change in NAV |
(50.5 | )% | 1.0 | % | ||||
| Shares outstanding beginning of period |
99,970 | 99,970 | ||||||
| Shares outstanding end of period |
49,970 | 99,970 | ||||||
| Percentage change in shares outstanding |
(50.0 | )% | — | % | ||||
| Shares created |
— | 100,000 | ||||||
| Shares redeemed |
50,000 | 100,000 | ||||||
| Per share NAV beginning of period |
$ | 55.83 | $ | 57.53 | ||||
| Per share NAV end of period |
$ | 55.32 | $ | 58.09 | ||||
| Percentage change in per share NAV |
(0.9 | )% | 1.0 | % | ||||
| Percentage change in benchmark |
0.6 | % | 1.7 | % | ||||
| Benchmark annualized volatility |
11.8 | % | 5.5 | % | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (4,913 | ) | $ | 24,239 | |||
| Management fee |
13,842 | 21,645 | ||||||
| Net realized gain (loss) |
(115,236 | ) | 93,976 | |||||
| Change in net unrealized appreciation (depreciation) |
49,554 | (129,048 | ) | |||||
| Net Income (loss) |
$ | (70,595 | ) | $ | (10,833 | ) | ||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 5,608,612 | $ | 11,060,333 | ||||
| NAV end of period |
$ | 5,614,042 | $ | 8,364,065 | ||||
| Percentage change in NAV |
0.1 | % | (24.4 | )% | ||||
| Shares outstanding beginning of period |
100,000 | 200,000 | ||||||
| Shares outstanding end of period |
100,000 | 150,000 | ||||||
| Percentage change in shares outstanding |
— | % | (25.0 | )% | ||||
| Shares created |
— | — | ||||||
| Shares redeemed |
— | 50,000 | ||||||
| Per share NAV beginning of period |
$ | 56.09 | $ | 55.30 | ||||
| Per share NAV end of period |
$ | 56.14 | $ | 55.76 | ||||
| Percentage change in per share NAV |
0.1 | % | 0.8 | % | ||||
| Percentage change in benchmark |
(1.6 | )% | (0.3 | )% | ||||
| Benchmark annualized volatility |
14.6 | % | 7.5 | % | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (12,760 | ) | $ | 51,684 | |||
| Management fee |
30,018 | 40,978 | ||||||
| Brokerage commission |
2,838 | 3,102 | ||||||
| Net realized gain (loss) |
(366,954 | ) | 512,861 | |||||
| Change in net unrealized appreciation (depreciation) |
385,144 | (651,797 | ) | |||||
| Net Income (loss) |
$ | 5,430 | $ | (87,252 | ) | |||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 125,451,681 | $ | 114,377,311 | ||||
| NAV end of period |
$ | 117,821,898 | $ | 68,096,767 | ||||
| Percentage change in NAV |
(6.1 | )% | (40.5 | )% | ||||
| Shares outstanding beginning of period |
10,289,884 | 3,839,884 | ||||||
| Shares outstanding end of period |
6,439,884 | 4,039,884 | ||||||
| Percentage change in shares outstanding |
(37.4 | )% | 5.2 | % | ||||
| Shares created |
22,350,000 | 8,250,000 | ||||||
| Shares redeemed |
26,200,000 | 8,050,000 | ||||||
| Per share NAV beginning of period |
$ | 12.19 | $ | 29.79 | ||||
| Per share NAV end of period |
$ | 18.30 | $ | 16.86 | ||||
| Percentage change in per share NAV |
50.1 | % | (43.4 | )% | ||||
| Percentage change in benchmark |
(58.6 | )% | 26.5 | % | ||||
| Benchmark annualized volatility |
109.8 | % | 29.2 | % | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (813,439 | ) | $ | 401,612 | |||
| Management fee |
551,269 | 356,422 | ||||||
| Brokerage commission |
423,785 | 28,502 | ||||||
| Net realized gain (loss) |
44,726,655 | 969,163 | ||||||
| Change in net unrealized appreciation (depreciation) |
1,379,632 | (35,461,728 | ) | |||||
| Net Income (loss) |
$ | 45,292,848 | $ | (34,090,953 | ) | |||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 12,515,603 | $ | 17,825,441 | ||||
| NAV end of period |
$ | 28,552,210 | $ | 3,838,842 | ||||
| Percentage change in NAV |
128.1 | % | (78.5 | )% | ||||
| Shares outstanding beginning of period |
324,832 | 824,832 | ||||||
| Shares outstanding end of period |
424,832 | 124,832 | ||||||
| Percentage change in shares outstanding |
30.8 | % | (84.9 | )% | ||||
| Shares created |
1,200,000 | 500,000 | ||||||
| Shares redeemed |
1,100,000 | 1,200,000 | ||||||
| Per share NAV beginning of period |
$ | 38.53 | $ | 21.61 | ||||
| Per share NAV end of period |
$ | 67.21 | $ | 30.75 | ||||
| Percentage change in per share NAV |
74.5 | % | 42.3 | % | ||||
| Percentage change in benchmark |
(37.8 | )% | (22.8 | )% | ||||
| Benchmark annualized volatility |
50.5 | % | 35.7 | % | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (109,326 | ) | $ | 31,203 | |||
| Management fee |
69,037 | 49,069 | ||||||
| Brokerage commission |
78,743 | 27,881 | ||||||
| Net realized gain (loss) |
10,862,268 | 14,769,166 | ||||||
| Change in net unrealized appreciation (depreciation) |
560,972 | (10,862,796 | ) | |||||
| Net Income (loss) |
$ | 11,313,914 | $ | 3,937,573 | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 120,581,173 | $ | 154,120,159 | ||||
| NAV end of period |
$ | 78,848,965 | $ | 134,573,471 | ||||
| Percentage change in NAV |
(34.6 | )% | (12.7 | )% | ||||
| Shares outstanding beginning of period |
4,500,000 | 6,350,000 | ||||||
| Shares outstanding end of period |
2,950,000 | 5,300,000 | ||||||
| Percentage change in shares outstanding |
(34.4 | )% | (16.5 | )% | ||||
| Shares created |
350,000 | 350,000 | ||||||
| Shares redeemed |
1,900,000 | 1,400,000 | ||||||
| Per share NAV beginning of period |
$ | 26.80 | $ | 24.27 | ||||
| Per share NAV end of period |
$ | 26.73 | $ | 25.39 | ||||
| Percentage change in per share NAV |
(0.3 | )% | 4.6 | % | ||||
| Percentage change in benchmark |
0.2 | % | (0.8 | )% | ||||
| Benchmark annualized volatility |
8.7 | % | 5.5 | % | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (9,389 | ) | $ | 905,729 | |||
| Management fee |
477,073 | 674,193 | ||||||
| Net realized gain (loss) |
(1,238,585 | ) | 5,276,612 | |||||
| Change in net unrealized appreciation (depreciation) |
1,920,568 | 581,064 | ||||||
| Net Income (loss) |
$ | 672,594 | $ | 6,763,405 | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 21,047,560 | $ | 18,098,997 | ||||
| NAV end of period |
$ | 15,851,043 | $ | 18,158,403 | ||||
| Percentage change in NAV |
(24.7 | )% | 0.3 | % | ||||
| Shares outstanding beginning of period |
396,977 | 246,978 | ||||||
| Shares outstanding end of period |
446,977 | 296,977 | ||||||
| Percentage change in shares outstanding |
12.6 | % | 20.2 | % | ||||
| Shares created |
350,000 | 400,000 | ||||||
| Shares redeemed |
300,000 | 350,001 | ||||||
| Per share NAV beginning of period |
$ | 53.02 | $ | 73.28 | ||||
| Per share NAV end of period |
$ | 35.46 | $ | 61.14 | ||||
| Percentage change in per share NAV |
(33.1 | )% | (16.6 | )% | ||||
| Percentage change in benchmark |
17.1 | % | 10.0 | % | ||||
| Benchmark annualized volatility |
24.2 | % | 10.8 | % | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (25,708 | ) | $ | 100,053 | |||
| Management fee |
83,860 | 95,018 | ||||||
| Brokerage commission |
3,763 | 2,418 | ||||||
| Net realized gain (loss) |
(8,020,153 | ) | (3,069,639 | ) | ||||
| Change in net unrealized appreciation (depreciation) |
38,043 | (478,986 | ) | |||||
| Net Income (loss) |
$ | (8,007,818 | ) | $ | (3,448,572 | ) | ||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 13,834,163 | $ | 11,768,863 | ||||
| NAV end of period |
$ | 10,145,625 | $ | 14,026,041 | ||||
| Percentage change in NAV |
(26.7 | )% | 19.2 | % | ||||
| Shares outstanding beginning of period |
516,976 | 316,976 | ||||||
| Shares outstanding end of period |
516,976 | 366,976 | ||||||
| Percentage change in shares outstanding |
— | % | 15.8 | % | ||||
| Shares created |
800,000 | 550,000 | ||||||
| Shares redeemed |
800,000 | 500,000 | ||||||
| Per share NAV beginning of period |
$ | 26.76 | $ | 37.13 | ||||
| Per share NAV end of period |
$ | 19.62 | $ | 38.22 | ||||
| Percentage change in per share NAV |
(26.7 | )% | 2.9 | % | ||||
| Percentage change in benchmark |
1.9 | % | (1.8 | )% | ||||
| Benchmark annualized volatility |
43.3 | % | 15.4 | % | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (27,294 | ) | $ | 73,731 | |||
| Management fee |
62,885 | 78,655 | ||||||
| Brokerage commission |
7,921 | 4,175 | ||||||
| Net realized gain (loss) |
(3,035,499 | ) | (920,611 | ) | ||||
| Change in net unrealized appreciation (depreciation) |
1,436,385 | 1,069,178 | ||||||
| Net Income (loss) |
$ | (1,626,408 | ) | $ | 222,298 | |||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 38,132,320 | $ | 55,363,675 | ||||
| NAV end of period |
$ | 29,787,034 | $ | 47,695,345 | ||||
| Percentage change in NAV |
(21.9 | )% | (13.9 | )% | ||||
| Shares outstanding beginning of period |
499,290 | 749,290 | ||||||
| Shares outstanding end of period |
399,290 | 649,290 | ||||||
| Percentage change in shares outstanding |
(20.0 | )% | (13.3 | )% | ||||
| Shares created |
100,000 | 450,000 | ||||||
| Shares redeemed |
200,000 | 550,000 | ||||||
| Per share NAV beginning of period |
$ | 76.37 | $ | 73.89 | ||||
| Per share NAV end of period |
$ | 74.60 | $ | 73.46 | ||||
| Percentage change in per share NAV |
(2.3 | )% | (0.6 | )% | ||||
| Percentage change in benchmark |
0.6 | % | 1.7 | % | ||||
| Benchmark annualized volatility |
11.8 | % | 5.5 | % | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (17,541 | ) | $ | 343,017 | |||
| Management fee |
148,867 | 247,784 | ||||||
| Net realized gain (loss) |
(395,772 | ) | (2,944,042 | ) | ||||
| Change in net unrealized appreciation (depreciation) |
(630,608 | ) | 2,717,362 | |||||
| Net Income (loss) |
$ | (1,043,921 | ) | $ | 116,337 | |||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 45,986,584 | $ | 56,299,121 | ||||
| NAV end of period |
$ | 59,085,470 | $ | 37,756,409 | ||||
| Percentage change in NAV |
28.5 | % | (32.9 | )% | ||||
| Shares outstanding beginning of period |
2,162,403 | 2,112,403 | ||||||
| Shares outstanding end of period |
1,462,403 | 1,762,403 | ||||||
| Percentage change in shares outstanding |
(32.4 | )% | (16.6 | )% | ||||
| Shares created |
1,100,000 | 775,000 | ||||||
| Shares redeemed |
1,800,000 | 1,125,000 | ||||||
| Per share NAV beginning of period |
$ | 21.27 | $ | 26.65 | ||||
| Per share NAV end of period |
$ | 40.40 | $ | 21.42 | ||||
| Percentage change in per share NAV |
90.0 | % | (19.6 | )% | ||||
| Percentage change in benchmark |
90.9 | % | (19.2 | )% | ||||
| Benchmark annualized volatility |
75.1 | % | 23.4 | % | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (85,793 | ) | $ | 282,872 | |||
| Management fee |
218,560 | 188,570 | ||||||
| Brokerage commission |
32,623 | 19,689 | ||||||
| Net realized gain (loss) |
20,952,940 | (7,055,283 | ) | |||||
| Change in net unrealized appreciation (depreciation) |
3,669,337 | (4,425,324 | ) | |||||
| Net Income (loss) |
$ | 24,536,484 | $ | (11,197,735 | ) | |||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| NAV beginning of period |
$ | 279,792,503 | $ | 149,547,115 | ||||
| NAV end of period |
$ | 221,343,175 | $ | 240,473,128 | ||||
| Percentage change in NAV |
(20.9 | )% | 60.8 | % | ||||
| Shares outstanding beginning of period |
22,751,317 | 3,876,317 | ||||||
| Shares outstanding end of period |
7,926,317 | 11,526,317 | ||||||
| Percentage change in shares outstanding |
(65.2 | )% | 197.4 | % | ||||
| Shares created |
10,675,000 | 12,125,000 | ||||||
| Shares redeemed |
25,500,000 | 4,475,000 | ||||||
| Per share NAV beginning of period |
$ | 12.30 | $ | 38.58 | ||||
| Per share NAV end of period |
$ | 27.93 | $ | 20.86 | ||||
| Percentage change in per share NAV |
127.1 | % | (45.9 | )% | ||||
| Percentage change in benchmark |
128.5 | % | (45.7 | )% | ||||
| Benchmark annualized volatility |
132.5 | % | 55.9 | % | ||||
Six Months Ended June 30, 2020 |
Six Months Ended June 30, 2019 |
|||||||
| Net investment income (loss) |
$ | (299,597 | ) | $ | 1,201,304 | |||
| Management fee |
1,024,560 | 848,246 | ||||||
| Brokerage commission |
244,857 | 83,182 | ||||||
| Net realized gain (loss) |
324,892,071 | (66,193,104 | ) | |||||
| Change in net unrealized appreciation (depreciation) |
16,033,274 | (33,080,532 | ) | |||||
| Net Income (loss) |
$ | 340,625,748 | $ | (98,072,332 | ) | |||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| Euro Fx Currency Futures (CME) |
Long | September 2020 | 16 | $ | 1.13 | 125,000 | $ | 2,250,500 | ||||||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| Euro Fx Currency Futures (CME) |
Short | September 2019 | 154 | $ | 1.14 | 125,000 | $ | (22,034,513 | ) | |||||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| VIX Futures (Cboe) |
Short | July 2020 | 4,764 | $ | 30.88 | 1,000 | $ | (147,088,500 | ) | |||||||||||
| VIX Futures (Cboe) |
Short | August 2020 | 3,411 | 31.83 | 1,000 | (108,555,075 | ) | |||||||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| VIX Futures (Cboe) |
Short | July 2019 | 6,094 | $ | 15.53 | 1,000 | $ | (94,609,350 | ) | |||||||||||
| VIX Futures (Cboe) |
Short | August 2019 | 4,424 | 16.58 | 1,000 | (73,327,800 | ) | |||||||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| WTI Crude Oil (NYMEX) |
Long | September 2020 | 17,132 | $ | 39.34 | 1,000 | $ | 673,972,880 | ||||||||||||
| WTI Crude Oil (NYMEX) |
Long | October 2020 | 22,205 | 39.48 | 1,000 | 876,653,400 | ||||||||||||||
| WTI Crude Oil (NYMEX) |
Long | December 2020 | 25,357 | 39.68 | 1,000 | 1,006,165,760 | ||||||||||||||
| Reference Index |
Counterparty |
Long or Short |
Index Close |
Notional Amount at Value |
||||||||
| Bloomberg WTI Crude Oil Subindex |
Goldman Sachs International | Long | $ | 37.2575 | $ | 225,096,897 | ||||||
| Morgan Stanley WTI Crude Oil Subindex |
Morgan Stanley | Long | 287.8039 | 129,511,755 | ||||||||
| Bloomberg WTI Crude Oil Subindex |
Societe Generale | Long | 37.2575 | 107,081,626 | ||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| WTI Crude Oil (NYMEX) |
Long | September 2019 | 2,120 | $ | 58.52 | 1,000 | $ | 124,062,400 | ||||||||||||
| Reference Index |
Counterparty |
Long or Short |
Index Close |
Notional Amount at Value |
||||||||
| Bloomberg WTI Crude Oil Subindex |
Citibank, N.A. | Long | $ | 85.8165 | $ | 202,875,259 | ||||||
| Bloomberg WTI Crude Oil Subindex |
Goldman Sachs International | Long | 85.8165 | 129,203,915 | ||||||||
| Bloomberg WTI Crude Oil Subindex |
Royal Bank of Canada | Long | 85.8165 | 131,120,750 | ||||||||
| Bloomberg WTI Crude Oil Subindex |
Societe Generale | Long | 85.8165 | 61,063,068 | ||||||||
| Bloomberg WTI Crude Oil Subindex |
UBS AG | Long | 85.8165 | 115,790,770 | ||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| Natural Gas (NYMEX) |
Long | September 2020 | 5,659 | $ | 1.79 | 10,000 | $ | 101,239,510 | ||||||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| Natural Gas (NYMEX) |
Long | September 2019 | 2,948 | $ | 2.28 | 10,000 | $ | 67,273,360 | ||||||||||||
| Reference Currency |
Counterparty |
Long or Short |
Settlement Date |
Local Currency |
Forward Rate |
Market Value USD |
||||||||||||||
| Euro |
Goldman Sachs International | Long | 07/10/20 | 3,440,921 | 1.1227 | $ | 3,862,950 | |||||||||||||
| Euro |
UBS AG | Long | 07/10/20 | 4,020,302 | 1.1283 | 4,536,305 | ||||||||||||||
| Euro |
UBS AG | Short | 07/10/20 | (203,000 | ) | 1.1264 | (228,659 | ) | ||||||||||||
| Reference Currency |
Counterparty |
Long or Short |
Settlement Date |
Local Currency |
Forward Rate |
Market Value USD |
||||||||||||||
| Euro |
Goldman Sachs International | Long | 07/12/19 | 5,708,031 | 1.1342 | $ | 6,474,107 | |||||||||||||
| Euro |
UBS AG | Long | 07/12/19 | 5,921,240 | 1.1344 | 6,717,044 | ||||||||||||||
| Euro |
Goldman Sachs International | Short | 07/12/19 | (71,266 | ) | 1.1314 | (80,633 | ) | ||||||||||||
| Euro |
UBS AG | Short | 07/12/19 | (1,362,265 | ) | 1.1369 | (1,548,778 | ) | ||||||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| Gold Futures (COMEX) |
Long | August 2020 | 721 | $ | 1,800.50 | 100 | $ | 129,816,050 | ||||||||||||
| Reference Index |
Counterparty |
Long or Short |
Index Close |
Notional Amount at Value |
||||||||
| Bloomberg Gold Subindex |
Citibank, N.A. | Long | $ | 203.8550 | $ | 70,552,163 | ||||||
| Bloomberg Gold Subindex |
Goldman Sachs International | Long | 203.8550 | 69,644,070 | ||||||||
| Bloomberg Gold Subindex |
UBS AG | Long | 203.8550 | 61,364,755 | ||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| Gold Futures (COMEX) |
Long | August 2019 | 309 | $ | 1,413.70 | 100 | $ | 43,683,330 | ||||||||||||
| Reference Index |
Counterparty |
Long or Short |
Index Close |
Notional Amount at Value |
||||||||
| Bloomberg Gold Subindex |
Citibank, N.A. | Long | $ | 164.2928 | $ | 43,120,440 | ||||||
| Bloomberg Gold Subindex |
Goldman Sachs International | Long | 164.2928 | 39,623,699 | ||||||||
| Bloomberg Gold Subindex |
UBS AG | Long | 164.2928 | 44,338,615 | ||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| Silver Futures (COMEX) |
Long | September 2020 | 1,928 | $ | 18.64 | 5,000 | $ | 179,660,680 | ||||||||||||
| Reference Index |
Counterparty |
Long or Short |
Index Close |
Notional Amount at Value |
||||||||
| Bloomberg Silver Subindex |
Citibank, N.A. | Long | $ | 172.6990 | $ | 135,066,136 | ||||||
| Bloomberg Silver Subindex |
Goldman Sachs International | Long | 172.6990 | 93,005,691 | ||||||||
| Bloomberg Silver Subindex |
UBS AG | Long | 172.6990 | 91,761,402 | ||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| Silver Futures (COMEX) |
Long | September 2019 | 633 | $ | 15.34 | 5,000 | $ | 48,554,265 | ||||||||||||
| Reference Index |
Counterparty |
Long or Short |
Index Close |
Notional Amount at Value |
||||||||
| Bloomberg Silver Subindex |
Citibank, N.A. | Long | $ | 148.0529 | $ | 110,291,099 | ||||||
| Bloomberg Silver Subindex |
Goldman Sachs International | Long | 148.0529 | 95,340,020 | ||||||||
| Bloomberg Silver Subindex |
UBS AG | Long | 148.0529 | 102,655,024 | ||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| VIX Futures (Cboe) |
Long | July 2020 | 26,764 | $ | 30.88 | 1,000 | $ | 826,338,500 | ||||||||||||
| VIX Futures (Cboe) |
Long | August 2020 | 19,103 | 31.83 | 1,000 | 607,952,975 | ||||||||||||||
| Reference Index |
Counterparty |
Long or Short |
Index Close |
Notional Amount at Value |
||||||||
| iPath Series B S&P 500 VIX Short-Term Futures ETN iNAV Index |
Goldman Sachs & Co. | Long | $ | 34.0592 | $ | 52,525,586 | ||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| VIX Futures (Cboe) |
Long | July 2019 | 27,397 | $ | 15.53 | 1,000 | $ | 425,338,425 | ||||||||||||
| VIX Futures (Cboe) |
Long | August 2019 | 19,933 | 16.58 | 1,000 | 330,389,475 | ||||||||||||||
| Reference Index |
Counterparty |
Long or Short |
Index Close |
Notional Amount at Value |
||||||||
| iPath Series B S&P 500 VIX Short-Term Futures ETN iNAV Index |
Goldman Sachs International | Long | $ | 25.3687 | $ | 39,123,255 | ||||||
| Reference Currency |
Counterparty |
Long or Short |
Settlement Date |
Local Currency |
Forward Rate |
Market Value USD |
||||||||||||||
| Yen |
Goldman Sachs International | Long | 07/10/20 | 336,014,517 | 0.009196 | $ | 3,089,931 | |||||||||||||
| Yen |
UBS AG | Long | 07/10/20 | 274,932,756 | 0.009201 | 2,529,705 | ||||||||||||||
| Yen |
UBS AG | Short | 07/10/20 | (12,240,000 | ) | 0.009236 | (113,045 | ) | ||||||||||||
| Reference Currency |
Counterparty |
Long or Short |
Settlement Date |
Local Currency |
Forward Rate |
Market Value USD |
||||||||||||||
| Yen |
Goldman Sachs International | Long | 07/12/19 | 336,548,449 | 0.009246 | $ | 3,111,764 | |||||||||||||
| Yen |
UBS AG | Long | 07/12/19 | 921,532,970 | 0.009243 | 8,517,925 | ||||||||||||||
| Yen |
UBS AG | Short | 07/12/19 | (6,364,462 | ) | 0.009286 | (59,101 | ) | ||||||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| Australian Dollar Fx Currency Futures (CME) |
Short | September 2020 | 163 | $ | 69.01 | 1,000 | $ | (11,255,150 | ) | |||||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| Australian Dollar Fx Currency Futures (CME) |
Short | September 2019 | 238 | $ | 70.37 | 1,000 | $ | (16,745,680 | ) | |||||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| WTI Crude Oil (NYMEX) |
Short | September 2020 | 919 | $ | 39.34 | 1,000 | $ | (36,153,460 | ) | |||||||||||
| WTI Crude Oil (NYMEX) |
Short | October 2020 | 1,990 | 39.48 | 1,000 | (78,565,200 | ) | |||||||||||||
| WTI Crude Oil (NYMEX) |
Short | December 2020 | 1,980 | 39.68 | 1,000 | (78,566,400 | ) | |||||||||||||
| Reference Index |
Counterparty |
Long or Short |
Index Close |
Notional Amount at Value |
||||||||
| Bloomberg WTI Crude Oil Subindex |
Goldman Sachs International | Short | $ | 37.2575 | $ | (42,317,531 | ) | |||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| WTI Crude Oil (NYMEX) |
Short | September 2019 | 612 | $ | 58.52 | 1,000 | $ | (35,814,240 | ) | |||||||||||
| Reference Index |
Counterparty |
Long or Short |
Index Close |
Notional Amount at Value |
||||||||
| Bloomberg WTI Crude Oil Subindex |
Citibank, N.A. | Short | $ | 85.8165 | $ | (32,391,415 | ) | |||||
| Bloomberg WTI Crude Oil Subindex |
Goldman Sachs International | Short | 85.8165 | (18,892,963 | ) | |||||||
| Bloomberg WTI Crude Oil Subindex |
Royal Bank of Canada | Short | 85.8165 | (21,105,665 | ) | |||||||
| Bloomberg WTI Crude Oil Subindex |
Societe Generale | Short | 85.8165 | (8,748,167 | ) | |||||||
| Bloomberg WTI Crude Oil Subindex |
UBS AG | Short | 85.8165 | (19,251,456 | ) | |||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| Natural Gas (NYMEX) |
Short | September 2020 |
3,192 | $ | 1.79 | 10,000 | $ | (57,104,880 | ) | |||||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| Natural Gas (NYMEX) |
Short | September 2019 |
336 | $ | 2.28 | 10,000 | $ | (7,667,520 | ) | |||||||||||
| Reference Currency |
Counterparty |
Long or Short |
Settlement Date |
Local Currency |
Forward Rate |
Market Value USD |
||||||||||||||
| Euro |
UBS AG | Long | 07/10/20 | 24,450,000 | 1.1306 | $ | 27,643,554 | |||||||||||||
| Euro |
Goldman Sachs International | Short | 07/10/20 | (42,027,263 | ) | 1.1227 | (47,181,907 | ) | ||||||||||||
| Euro |
UBS AG | Short | 07/10/20 | (123,240,199 | ) | 1.1229 | (138,384,964 | ) | ||||||||||||
| Reference Currency |
Counterparty |
Long or Short |
Settlement Date |
Local Currency |
Forward Rate |
Market Value USD |
||||||||||||||
| Euro |
Goldman Sachs International | Long | 07/12/19 | 5,149,992 | 1.1299 | $ | 5,818,958 | |||||||||||||
| Euro |
UBS AG | Long | 07/12/19 | 4,521,641 | 1.1389 | 5,149,650 | ||||||||||||||
| Euro |
Goldman Sachs International | Short | 07/12/19 | (113,562,310 | ) | 1.1342 | (128,802,111 | ) | ||||||||||||
| Euro |
UBS AG | Short | 07/12/19 | (132,301,410 | ) | 1.1339 | (150,013,121 | ) | ||||||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||||
| Gold Futures (COMEX) |
Short | August 2020 | 46 | $ | 1,800.50 | 100 | $ | (8,282,300 | ) | |||||||||||||
| Reference Index |
Counterparty |
Long or Short |
Index Close |
Notional Amount at Value |
||||||||
| Bloomberg Gold Subindex |
Citibank, N.A. | Short | $ | 203.8550 | $ | (10,722,833 | ) | |||||
| Bloomberg Gold Subindex |
Goldman Sachs International | Short | 203.8550 | (8,036,739 | ) | |||||||
| Bloomberg Gold Subindex |
UBS AG | Short | 203.8550 | (4,678,097 | ) | |||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||||
| Gold Futures (COMEX) |
Short | August 2019 | 91 | $ | 1,413.70 | 100 | $ | (12,864,670 | ) | |||||||||||||
| Reference Index |
Counterparty |
Long or Short |
Index Close |
Notional Amount at Value |
||||||||
| Bloomberg Gold Subindex |
Citibank, N.A. | Short | $ | 164.2928 | $ | (9,390,533 | ) | |||||
| Bloomberg Gold Subindex |
Goldman Sachs International | Short | 164.2928 | (7,443,910 | ) | |||||||
| Bloomberg Gold Subindex |
UBS AG | Short | 164.2928 | (6,675,900 | ) | |||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||||
| Silver Futures (COMEX) |
Short | September 2020 | 74 | $ | 18.64 | 5,000 | $ | (6,895,690 | ) | |||||||||||||
| Reference Index |
Counterparty |
Long or Short |
Index Close |
Notional Amount at Value |
||||||||||
| Bloomberg Silver Subindex |
Citibank, N.A. | Short | $ | 172.6990 | $ | (5,885,533 | ) | |||||||
| Bloomberg Silver Subindex |
Goldman Sachs International | Short | 172.6990 | (3,503,375 | ) | |||||||||
| Bloomberg Silver Subindex |
UBS AG | Short | 172.6990 | (4,010,780 | ) | |||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||||
| Silver Futures (COMEX) |
Short | September 2019 | 60 | $ | 15.34 | 5,000 | $ | (4,602,299 | ) | |||||||||||||
| Reference Index |
Counterparty |
Long or Short |
Index Close |
Notional Amount at Value |
||||||||
| Bloomberg Silver Subindex |
Citibank, N.A. | Short | $ | 148.0529 | $ | (8,558,305 | ) | |||||
| Bloomberg Silver Subindex |
Goldman Sachs International | Short | 148.0529 | (7,593,488 | ) | |||||||
| Bloomberg Silver Subindex |
UBS AG | Short | 148.0529 | (7,293,546 | ) | |||||||
| Reference Currency |
Counterparty |
Long or Short |
Settlement Date |
Local Currency |
Forward Rate |
Market Value USD |
||||||||||||
| Yen |
UBS AG | Long | 07/10/20 | 667,860,000 | 0.009305 | $ | 6,214,279 | |||||||||||
| Yen |
Goldman Sachs International | Short | 07/10/20 | (1,888,338,165 | ) | 0.009196 | (17,364,827 | ) | ||||||||||
| Yen |
UBS AG | Short | 07/10/20 | (5,209,742,875 | ) | 0.009190 | (47,878,145 | ) | ||||||||||
| Reference Currency |
Counterparty |
Long or Short |
Settlement Date |
Local Currency |
Forward Rate |
Market Value USD |
||||||||||||
| Yen |
Goldman Sachs International | Long | 07/12/19 | 322,672,886 | 0.009313 | $ | 3,005,168 | |||||||||||
| Yen |
Goldman Sachs International | Short | 07/12/19 | (5,474,654,493 | ) | 0.009244 | (50,605,080 | ) | ||||||||||
| Yen |
UBS AG | Short | 07/12/19 | (5,105,752,383 | ) | 0.009245 | (47,200,208 | ) | ||||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| VIX Futures (Cboe) |
Long | October 2020 | 378 | $ | 33.18 | 1,000 | $ | 12,540,150 | ||||||||||||
| VIX Futures (Cboe) |
Long | November 2020 | 647 | 30.58 | 1,000 | 19,782,025 | ||||||||||||||
| VIX Futures (Cboe) |
Long | December 2020 | 647 | 29.08 | 1,000 | 18,811,525 | ||||||||||||||
| VIX Futures (Cboe) |
Long | January 2021 | 270 | 29.43 | 1,000 | 7,944,750 | ||||||||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| VIX Futures (Cboe) |
Long | October 2019 | 428 | $ | 17.08 | 1,000 | $ | 7,308,100 | ||||||||||||
| VIX Futures (Cboe) |
Long | November 2019 | 739 | 17.08 | 1,000 | 12,618,425 | ||||||||||||||
| VIX Futures (Cboe) |
Long | December 2019 | 739 | 16.83 | 1,000 | 12,433,675 | ||||||||||||||
| VIX Futures (Cboe) |
Long | January 2020 | 311 | 17.33 | 1,000 | 5,388,075 | ||||||||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| VIX Futures (Cboe) |
Long | July 2020 | 4,125 | $ | 30.88 | 1,000 | $ | 127,359,375 | ||||||||||||
| VIX Futures (Cboe) |
Long | August 2020 | 2,943 | 31.83 | 1,000 | 93,660,975 | ||||||||||||||
| Contract |
Long or Short |
Expiration |
Contracts |
Valuation Price |
Contract Multiplier |
Notional Amount at Value |
||||||||||||||
| VIX Futures (Cboe) |
Long | July 2019 | 8,727 | $ | 15.53 | 1,000 | $ | 135,486,675 | ||||||||||||
| VIX Futures (Cboe) |
Long | August 2019 | 6,343 | 16.58 | 1,000 | 105,135,225 | ||||||||||||||
Item 2. |
Unregistered Sales of Equity Securities and Use of Proceeds. |
| Title of Securities Registered |
Amount Registered as of June 30, 2020 |
Shares Sold For the Three Months Ended June 30, 2020 |
Sale Price of Shares Sold For the Three Months Ended June 30, 2020 |
Shares Sold For the Six Months Ended June 30, 2020 ** |
Sale Price of Shares Sold For the Six Months Ended June 30, 2020 ** |
|||||||||||||||
| ProShares Short Euro |
||||||||||||||||||||
| Common Units of Beneficial Interest |
$ | 155,213,786 | — | $ | — | — | $ | — | ||||||||||||
| ProShares Short VIX Short-Term Futures ETF |
||||||||||||||||||||
| Common Units of Beneficial Interest |
$ | 5,078,471,529 | 1,000,000 | $ | 30,843,161 | 25,850,000 | $ | 914,411,669 | ||||||||||||
| ProShares Ultra Bloomberg Crude Oil |
||||||||||||||||||||
| Common Units of Beneficial Interest |
$ | 5,694,352,935 | 77,482,000 | $ | 1,895,200,511 | 88,162,000 | $ | 2,953,530,675 | ||||||||||||
| ProShares Ultra Bloomberg Natural Gas |
||||||||||||||||||||
| Common Units of Beneficial Interest |
$ | 504,114,682 | 1,260,000 | $ | 38,571,988 | 1,485,000 | $ | 54,252,228 | ||||||||||||
| ProShares Ultra Euro |
||||||||||||||||||||
| Common Units of Beneficial Interest |
$ | 90,298,450 | 50,000 | $ | 698,183 | 100,000 | $ | 1,368,038 | ||||||||||||
| ProShares Ultra Gold |
||||||||||||||||||||
| Common Units of Beneficial Interest |
$ | 490,972,448 | 300,000 | $ | 18,995,286 | 1,450,000 | $ | 83,989,061 | ||||||||||||
| ProShares Ultra Silver |
||||||||||||||||||||
| Common Units of Beneficial Interest |
$ | 781,618,810 | 1,500,000 | $ | 42,297,617 | 2,250,000 | $ | 56,459,730 | ||||||||||||
| ProShares Ultra VIX Short-Term Futures ETF |
||||||||||||||||||||
| Common Units of Beneficial Interest |
$ | 4,248,678,024 | 24,850,000 | $ | 850,559,658 | 34,750,000 | $ | 1,209,649,869 | ||||||||||||
| ProShares Ultra Yen |
||||||||||||||||||||
| Common Units of Beneficial Interest |
$ | 131,792,144 | — | $ | — | — | $ | — | ||||||||||||
| ProShares UltraPro 3x Crude Oil ETF |
||||||||||||||||||||
| Common Units of Beneficial Interest |
$ | — | * | — | $ | — | 184,600,000 | $ | 414,019,676 | |||||||||||
| ProShares UltraPro 3x Short Crude Oil ETF |
||||||||||||||||||||
| Common Units of Beneficial Interest |
$ | — | * | — | $ | — | 2,850,000 | $ | 59,484,110 | |||||||||||
| ProShares UltraShort Australian Dollar |
||||||||||||||||||||
| Common Units of Beneficial Interest |
$ | 159,935,804 | — | $ | — | — | $ | — | ||||||||||||
| ProShares UltraShort Bloomberg Crude Oil |
||||||||||||||||||||
| Common Units of Beneficial Interest |
$ | 1,448,244,035 | 19,000,000 | $ | 597,199,474 | 22,350,000 | $ | 668,428,949 | ||||||||||||
| Title of Securities Registered |
Amount Registered as of June 30, 2020 |
Shares Sold For the Three Months Ended June 30, 2020 |
Sale Price of Shares Sold For the Three Months Ended June 30, 2020 |
Shares Sold For the Six Months Ended June 30, 2020 ** |
Sale Price of Shares Sold For the Six Months Ended June 30, 2020 ** |
|||||||||||||||
| ProShares UltraShort Bloomberg Natural Gas |
||||||||||||||||||||
| Common Units of Beneficial Interest |
$ | 668,643,299 | 650,000 | $ | 39,170,642 | 1,200,000 | $ | 68,275,223 | ||||||||||||
| ProShares UltraShort Euro |
||||||||||||||||||||
| Common Units of Beneficial Interest |
$ | 725,653,500 | 150,000 | $ | 4,304,184 | 350,000 | $ | 10,058,250 | ||||||||||||
| ProShares UltraShort Gold |
||||||||||||||||||||
| Common Units of Beneficial Interest |
$ | 197,323,724 | 150,000 | $ | 5,742,206 | 350,000 | $ | 15,431,847 | ||||||||||||
| ProShares UltraShort Silver |
||||||||||||||||||||
| Common Units of Beneficial Interest |
$ | 855,075,292 | 600,000 | $ | 14,344,359 | 800,000 | $ | 20,307,202 | ||||||||||||
| ProShares UltraShort Yen |
||||||||||||||||||||
| Common Units of Beneficial Interest |
$ | 902,455,476 | 50,000 | $ | 3,849,992 | 100,000 | $ | 7,806,745 | ||||||||||||
| ProShares VIX Mid-Term Futures ETF |
||||||||||||||||||||
| Common Units of Beneficial Interest |
$ | 438,649,194 | 725,000 | $ | 29,558,030 | 1,100,000 | $ | 40,266,091 | ||||||||||||
| ProShares VIX Short-Term Futures ETF |
||||||||||||||||||||
| Common Units of Beneficial Interest |
$ | 1,278,376,358 | 3,875,000 | $ | 108,202,585 | 10,675,000 | $ | 186,459,674 | ||||||||||||
| |
|
|
|
|
|
|
|
|
|
|||||||||||
| Total Trust: |
23,849,869,490 |
131,642,000 |
$ |
3,679,537,876 |
378,422,000 |
$ |
6,764,199,037 |
|||||||||||||
| * | The liquidated funds’ shares were de-registered prior to March 31, 2020. |
| ** | The operations include the activity of ProShares UltraPro 3x Crude Oil ETF through April 3, 2020, and ProShares UltraPro 3x Short Crude Oil ETF through April 13, 2020, the date of liquidation, respectively. |
Item 3. |
Defaults Upon Senior Securities. |
Item 4. |
Mine Safety Disclosures. |
Item 5. |
Other Information. |
Item 6. |
Exhibits. |
PROSHARES TRUST II |
| /s/ Todd Johnson |
| By: Todd Johnson |
| Principal Executive Officer |
| Date: August 10, 2020 |
| /s/ Edward Karpowicz |
| By: Edward Karpowicz |
| Principal Financial and Accounting Officer |
| Date: August 10, 2020 |
Exhibit 31.1
Certification of Principal Executive Officer
Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
I, Todd Johnson, certify that:
| 1. | I have reviewed this Quarterly Report on Form 10-Q of ProShares Trust II and each of its Funds; |
| 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
| 3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
| 4. | The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
| (a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
| (b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
| (c) | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
| (d) | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
| 5. | The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
| (a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
| (b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
| Date: August 10, 2020 | By: | /s/ Todd Johnson | ||||
| Name: | Todd Johnson | |||||
| Title: | Principal Executive Officer ProShares Trust II |
Exhibit 31.2
Certification of Principal Financial Officer
Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
I, Edward Karpowicz, certify that:
| 1. | I have reviewed this Quarterly Report on Form 10-Q of ProShares Trust II and each of its Funds; |
| 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
| 3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
| 4. | The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
| (a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
| (b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
| (c) | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
| (d) | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
| 5. | The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
| (a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
| (b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
| Date: August 10, 2020 | By: | /s/ Edward Karpowicz | ||||
| Name: | Edward Karpowicz | |||||
| Title: | Principal Financial and Accounting Officer ProShares Trust II |
Exhibit 32.1
Certification of Principal Executive Officer
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
In connection with this Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 (the “Report”) of ProShares Trust II (the “Registrant”) and each of its Funds, as filed with the U.S. Securities and Exchange Commission on the date hereof, I, Todd Johnson, the Principal Executive Officer of the Registrant, hereby certify, to the best of my knowledge, that:
| (1) | The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and |
| (2) | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant. |
| Date: August 10, 2020 | By: | /s/ Todd Johnson | ||||
| Name: | Todd Johnson | |||||
| Title: | Principal Executive Officer ProShares Trust II |
Exhibit 32.2
Certification of Principal Financial Officer
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
In connection with this Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 (the “Report”) of ProShares Trust II (the “Registrant”) and each of its Funds, as filed with the U.S. Securities and Exchange Commission on the date hereof, I, Edward Karpowicz, the Principal Financial and Accounting Officer of the Registrant, hereby certify, to the best of my knowledge, that:
| (3) | The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and |
| (4) | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant. |
| Date: August 10, 2020 | By: | /s/ Edward Karpowicz | ||||
| Name: | Edward Karpowicz | |||||
| Title: | Principal Financial and Accounting Officer ProShares Trust II |
Statements of Financial Condition (Parenthetical) - U.S. Government Agencies Short-term Debt Securities [Member] |
Dec. 31, 2019
USD ($)
|
|---|---|
| Short-term U.S. government and agency obligations, cost | $ 1,084,860,512 |
| ProShares Short Euro [Member] | |
| Short-term U.S. government and agency obligations, cost | 745,775 |
| ProShares Short VIX Short-Term Futures ETF [Member] | |
| Short-term U.S. government and agency obligations, cost | 56,926,750 |
| ProShares Ultra Bloomberg Crude Oil [Member] | |
| Short-term U.S. government and agency obligations, cost | 200,101,525 |
| ProShares Ultra Bloomberg Natural Gas [Member] | |
| Short-term U.S. government and agency obligations, cost | 27,528,924 |
| ProShares Ultra Euro [Member] | |
| Short-term U.S. government and agency obligations, cost | 3,970,204 |
| ProShares Ultra Gold [Member] | |
| Short-term U.S. government and agency obligations, cost | 66,174,584 |
| ProShares Ultra Silver [Member] | |
| Short-term U.S. government and agency obligations, cost | 135,537,081 |
| ProShares Ultra VIX Short-Term Futures ETF [Member] | |
| Short-term U.S. government and agency obligations, cost | 179,736,532 |
| ProShares Ultra Yen [Member] | |
| Short-term U.S. government and agency obligations, cost | 1,808,030 |
| ProShares UltraShort Australian Dollar [Member] | |
| Short-term U.S. government and agency obligations, cost | 3,931,268 |
| ProShares UltraShort Bloomberg Crude Oil [Member] | |
| Short-term U.S. government and agency obligations, cost | 62,196,121 |
| ProShares UltraShort Bloomberg Natural Gas [Member] | |
| Short-term U.S. government and agency obligations, cost | 5,154,603 |
| ProShares UltraShort Euro [Member] | |
| Short-term U.S. government and agency obligations, cost | 78,586,073 |
| ProShares UltraShort Gold [Member] | |
| Short-term U.S. government and agency obligations, cost | 12,354,582 |
| ProShares UltraShort Silver [Member] | |
| Short-term U.S. government and agency obligations, cost | 9,162,163 |
| ProShares UltraShort Yen [Member] | |
| Short-term U.S. government and agency obligations, cost | 25,541,523 |
| ProShares VIX Mid-Term Futures ETF [Member] | |
| Short-term U.S. government and agency obligations, cost | 13,979,509 |
| ProShares VIX Short-Term Futures ETF [Member] | |
| Short-term U.S. government and agency obligations, cost | $ 96,862,355 |
Statements of Operations - USD ($) |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|||
| Investment Income | ||||||
| Interest | $ 1,023,264 | $ 12,441,899 | $ 8,522,978 | $ 22,661,481 | ||
| Expenses | ||||||
| Management fee | 7,818,372 | 5,590,948 | 13,657,176 | 10,865,254 | ||
| Brokerage commissions | 2,257,884 | 1,343,088 | 4,004,340 | 2,279,692 | ||
| Brokerage fees | 1,697,175 | 2,268 | 1,748,553 | 3,725 | ||
| Non-recurring fees and expenses | 426,058 | |||||
| Total expenses | 11,773,431 | 6,936,304 | 19,410,069 | 13,574,729 | ||
| Net investment income (loss) | [1] | (10,750,167) | 5,505,595 | (10,887,091) | 9,086,752 | |
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | [1] | (723,732,091) | (79,154,464) | (696,944,903) | (171,064,815) | |
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | [1] | 464,253,126 | (37,585,073) | 405,830,497 | 61,844,650 | |
| Net realized and unrealized gain (loss) | (259,478,965) | (116,739,537) | (291,114,406) | (109,220,165) | ||
| Net income (loss) | [1] | (270,229,132) | (111,233,942) | (302,001,497) | (100,133,413) | |
| Futures Contracts [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (33,459,658) | (52,045,375) | 281,718,169 | (193,698,394) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 148,611,325 | (56,589,018) | 428,141,480 | (30,587,778) | ||
| Swap Agreements [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (688,092,389) | (26,503,275) | (967,431,474) | (13,336,438) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 317,649,402 | 22,108,816 | (23,462,512) | 116,817,602 | ||
| Forward Agreements [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 33,894,330 | |||||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (27,771,221) | |||||
| Foreign Currency Forward Contracts [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (2,300,508) | (614,501) | (1,821,496) | 2,066,753 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (975,734) | (3,408,149) | 1,222,279 | 3,116,925 | ||
| U.S. Government Agencies Short-term Debt Securities [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 120,464 | 8,687 | 296,898 | 8,934 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (1,031,867) | 303,278 | (70,750) | 269,122 | ||
| Options [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (9,707,000) | |||||
| ProShares Short Euro [Member] | ||||||
| Investment Income | ||||||
| Interest | 54 | 125,445 | 7,649 | 190,623 | ||
| Expenses | ||||||
| Management fee | 5,516 | 52,792 | 11,019 | 79,777 | ||
| Brokerage commissions | 90 | 787 | 190 | 1,355 | ||
| Total expenses | 5,606 | 53,579 | 11,209 | 81,132 | ||
| Net investment income (loss) | (5,552) | 71,866 | (3,560) | 109,491 | ||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (20,020) | 76,518 | (38,658) | 223,624 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (20,804) | (234,419) | 46,490 | (30,548) | ||
| Net realized and unrealized gain (loss) | (40,824) | (157,901) | 7,832 | 193,076 | ||
| Net income (loss) | (46,376) | (86,035) | 4,272 | 302,567 | ||
| ProShares Short Euro [Member] | Futures Contracts [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (20,020) | 76,518 | (38,658) | 223,624 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (20,804) | (239,858) | 46,520 | (35,721) | ||
| ProShares Short Euro [Member] | U.S. Government Agencies Short-term Debt Securities [Member] | ||||||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 5,439 | (30) | 5,173 | |||
| ProShares Short VIX Short-Term Futures ETF [Member] | ||||||
| Investment Income | ||||||
| Interest | 106,023 | 1,883,798 | 855,884 | 3,468,359 | ||
| Expenses | ||||||
| Management fee | 1,589,036 | 938,696 | 2,475,233 | 1,890,823 | ||
| Brokerage commissions | 228,176 | 219,597 | 417,708 | 408,021 | ||
| Brokerage fees | 431,791 | 461,519 | 24 | |||
| Non-recurring fees and expenses | 398,550 | |||||
| Total expenses | 2,249,003 | 1,158,293 | 3,354,460 | 2,697,418 | ||
| Net investment income (loss) | (2,142,980) | 725,505 | (2,498,576) | 770,941 | ||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 54,615,005 | 11,427,588 | (189,685,599) | 70,532,942 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (22,301,329) | 4,568,486 | (1,245,671) | 27,139,946 | ||
| Net realized and unrealized gain (loss) | 32,313,676 | 15,996,074 | (190,931,270) | 97,672,888 | ||
| Net income (loss) | 30,170,696 | 16,721,579 | (193,429,846) | 98,443,829 | ||
| ProShares Short VIX Short-Term Futures ETF [Member] | Futures Contracts [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 54,615,763 | 11,427,596 | (189,684,841) | 70,532,950 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (22,216,796) | 4,538,343 | (1,242,994) | 27,115,163 | ||
| ProShares Short VIX Short-Term Futures ETF [Member] | U.S. Government Agencies Short-term Debt Securities [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (758) | (8) | (758) | (8) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (84,533) | 30,143 | (2,677) | 24,783 | ||
| ProShares Ultra Bloomberg Crude Oil [Member] | ||||||
| Investment Income | ||||||
| Interest | 365,747 | 2,163,795 | 1,767,207 | 4,304,180 | ||
| Expenses | ||||||
| Management fee | 2,806,288 | 898,556 | 3,676,527 | 1,923,750 | ||
| Brokerage commissions | 1,017,545 | 34,072 | 1,143,882 | 53,319 | ||
| Brokerage fees | 536,749 | 536,749 | ||||
| Total expenses | 4,360,582 | 932,628 | 5,357,158 | 1,977,069 | ||
| Net investment income (loss) | (3,994,835) | 1,231,167 | (3,589,951) | 2,327,111 | ||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (671,420,708) | (25,907,850) | (1,176,974,505) | 50,615,554 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 661,178,846 | 14,161,522 | 338,757,185 | 157,560,555 | ||
| Net realized and unrealized gain (loss) | (10,241,862) | (11,746,328) | (838,217,320) | 208,176,109 | ||
| Net income (loss) | (14,236,697) | (10,515,161) | (841,807,271) | 210,503,220 | ||
| ProShares Ultra Bloomberg Crude Oil [Member] | Futures Contracts [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (31,090,802) | 4,874,320 | (120,038,012) | 14,599,415 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 424,261,108 | (3,555,446) | 350,547,390 | 20,768,921 | ||
| ProShares Ultra Bloomberg Crude Oil [Member] | Swap Agreements [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (640,451,755) | (30,785,796) | (1,057,095,811) | 36,012,266 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 237,286,565 | 17,642,629 | (11,776,267) | 136,722,625 | ||
| ProShares Ultra Bloomberg Crude Oil [Member] | U.S. Government Agencies Short-term Debt Securities [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 121,849 | 3,626 | 159,318 | 3,873 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (368,827) | 74,339 | (13,938) | 69,009 | ||
| ProShares Ultra Bloomberg Natural Gas [Member] | ||||||
| Investment Income | ||||||
| Interest | 36,474 | 139,008 | 175,813 | 256,843 | ||
| Expenses | ||||||
| Management fee | 81,904 | 60,844 | 179,012 | 115,695 | ||
| Brokerage commissions | 63,224 | 28,280 | 107,806 | 47,219 | ||
| Brokerage fees | 12,642 | 12,642 | ||||
| Total expenses | 157,770 | 89,124 | 299,460 | 162,914 | ||
| Net investment income (loss) | (121,296) | 49,884 | (123,647) | 93,929 | ||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (16,111,238) | (7,975,969) | (38,929,789) | (21,277,866) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 4,853,272 | (670,693) | 416,235 | 9,674,305 | ||
| Net realized and unrealized gain (loss) | (11,257,966) | (8,646,662) | (38,513,554) | (11,603,561) | ||
| Net income (loss) | (11,379,262) | (8,596,778) | (38,637,201) | (11,509,632) | ||
| ProShares Ultra Bloomberg Natural Gas [Member] | Futures Contracts [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (16,111,161) | (7,976,053) | (38,930,766) | (21,277,891) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 4,884,617 | (671,150) | 417,794 | 9,673,790 | ||
| ProShares Ultra Bloomberg Natural Gas [Member] | U.S. Government Agencies Short-term Debt Securities [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (77) | 84 | 977 | 25 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (31,345) | 457 | (1,559) | 515 | ||
| ProShares Ultra Euro [Member] | ||||||
| Investment Income | ||||||
| Interest | 192 | 35,464 | 15,993 | 74,967 | ||
| Expenses | ||||||
| Management fee | 8,894 | 16,541 | 21,448 | 35,215 | ||
| Total expenses | 8,894 | 16,541 | 21,448 | 35,215 | ||
| Net investment income (loss) | (8,702) | 18,923 | (5,455) | 39,752 | ||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (18,635) | (132,599) | (71,903) | (359,872) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 97,408 | 208,577 | (124,134) | (16,908) | ||
| Net realized and unrealized gain (loss) | 78,773 | 75,978 | (196,037) | (376,780) | ||
| Net income (loss) | 70,071 | 94,901 | (201,492) | (337,028) | ||
| ProShares Ultra Euro [Member] | Foreign Currency Forward Contracts [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (18,635) | (132,599) | (71,903) | (359,872) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 97,408 | 208,561 | (123,926) | (16,915) | ||
| ProShares Ultra Euro [Member] | U.S. Government Agencies Short-term Debt Securities [Member] | ||||||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 16 | (208) | 7 | |||
| ProShares Ultra Gold [Member] | ||||||
| Investment Income | ||||||
| Interest | 69,857 | 409,424 | 484,541 | 825,009 | ||
| Expenses | ||||||
| Management fee | 333,463 | 178,772 | 628,874 | 380,350 | ||
| Brokerage commissions | 6,119 | 2,566 | 16,484 | 3,787 | ||
| Brokerage fees | 10,196 | 10,196 | ||||
| Total expenses | 349,778 | 181,338 | 655,554 | 384,137 | ||
| Net investment income (loss) | (279,921) | 228,086 | (171,013) | 440,872 | ||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 4,365,328 | 3,488,357 | 25,863,384 | 7,580,942 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 25,893,012 | 8,697,049 | 6,795,652 | 4,884,290 | ||
| Net realized and unrealized gain (loss) | 30,258,340 | 12,185,406 | 32,659,036 | 12,465,232 | ||
| Net income (loss) | 29,978,419 | 12,413,492 | 32,488,023 | 12,906,104 | ||
| ProShares Ultra Gold [Member] | Futures Contracts [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 3,122,599 | (364,225) | 3,054,438 | (371,978) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 5,677,906 | 3,037,989 | 2,039,670 | 2,759,958 | ||
| ProShares Ultra Gold [Member] | Swap Agreements [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 1,242,729 | 3,852,180 | 22,808,946 | 3,161,915 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 20,275,792 | 5,644,340 | 4,760,732 | 6,364,233 | ||
| ProShares Ultra Gold [Member] | Forward Agreements [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 4,790,603 | |||||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (4,253,301) | |||||
| ProShares Ultra Gold [Member] | U.S. Government Agencies Short-term Debt Securities [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 402 | 402 | ||||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (60,686) | 14,720 | (4,750) | 13,400 | ||
| ProShares Ultra Silver [Member] | ||||||
| Investment Income | ||||||
| Interest | 138,315 | 931,284 | 914,602 | 1,835,738 | ||
| Expenses | ||||||
| Management fee | 425,646 | 410,131 | 906,893 | 864,406 | ||
| Brokerage commissions | 26,966 | 9,085 | 45,174 | 13,702 | ||
| Brokerage fees | 20,946 | 20,946 | 3 | |||
| Total expenses | 473,558 | 419,216 | 973,013 | 878,111 | ||
| Net investment income (loss) | (335,243) | 512,068 | (58,411) | 957,627 | ||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 11,386,313 | (8,015,752) | 7,688,659 | 5,286,170 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 69,302,060 | 8,501,389 | (15,759,771) | (18,388,937) | ||
| Net realized and unrealized gain (loss) | 80,688,373 | 485,637 | (8,071,112) | (13,102,767) | ||
| Net income (loss) | 80,353,130 | 997,705 | (8,129,523) | (12,145,140) | ||
| ProShares Ultra Silver [Member] | Futures Contracts [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 19,483,543 | (1,491,784) | 9,841,567 | (1,746,898) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 4,631,606 | 1,736,022 | 382,020 | 737,490 | ||
| ProShares Ultra Silver [Member] | Swap Agreements [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (8,097,230) | (6,523,969) | (2,152,908) | (25,333,438) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 64,789,761 | 6,738,164 | (16,133,265) | 7,150,743 | ||
| ProShares Ultra Silver [Member] | Forward Agreements [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 32,366,374 | |||||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (26,301,717) | |||||
| ProShares Ultra Silver [Member] | U.S. Government Agencies Short-term Debt Securities [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 1 | 132 | ||||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (119,307) | 27,203 | (8,526) | 24,547 | ||
| ProShares Ultra VIX Short-Term Futures ETF [Member] | ||||||
| Investment Income | ||||||
| Interest | 101,523 | 2,683,047 | 1,513,263 | 4,101,153 | ||
| Expenses | ||||||
| Management fee | 1,293,878 | 1,356,237 | 2,677,153 | 2,321,769 | ||
| Brokerage commissions | 438,851 | 819,685 | 1,179,860 | 1,395,316 | ||
| Brokerage fees | 454,550 | 471,271 | 64 | |||
| Non-recurring fees and expenses | 27,508 | |||||
| Total expenses | 2,187,279 | 2,175,922 | 4,328,284 | 3,744,657 | ||
| Net investment income (loss) | (2,085,756) | 507,125 | (2,815,021) | 356,496 | ||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (107,880,791) | (54,976,168) | 618,204,440 | (250,199,509) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (125,500,879) | (39,563,092) | 51,016,036 | (78,621,075) | ||
| Net realized and unrealized gain (loss) | (233,381,670) | (94,539,260) | 669,220,476 | (328,820,584) | ||
| Net income (loss) | (235,467,426) | (94,032,135) | 666,405,455 | (328,464,088) | ||
| ProShares Ultra VIX Short-Term Futures ETF [Member] | Futures Contracts [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (70,710,151) | (50,930,493) | 585,435,077 | (217,066,694) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (143,576,454) | (37,254,397) | 54,779,500 | (77,769,752) | ||
| ProShares Ultra VIX Short-Term Futures ETF [Member] | Swap Agreements [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (37,170,640) | (4,045,325) | 32,769,363 | (33,132,465) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 18,224,215 | (2,348,776) | (3,749,878) | (883,364) | ||
| ProShares Ultra VIX Short-Term Futures ETF [Member] | U.S. Government Agencies Short-term Debt Securities [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (350) | (350) | ||||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (148,640) | 40,081 | (13,586) | 32,041 | ||
| ProShares Ultra Yen [Member] | ||||||
| Investment Income | ||||||
| Interest | 62 | 18,875 | 8,929 | 45,884 | ||
| Expenses | ||||||
| Management fee | 6,601 | 9,207 | 13,842 | 21,645 | ||
| Total expenses | 6,601 | 9,207 | 13,842 | 21,645 | ||
| Net investment income (loss) | (6,539) | 9,668 | (4,913) | 24,239 | ||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (106,753) | 171,283 | (115,236) | 93,976 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 68,867 | (16,451) | 49,554 | (129,048) | ||
| Net realized and unrealized gain (loss) | (37,886) | 154,832 | (65,682) | (35,072) | ||
| Net income (loss) | (44,425) | 164,500 | (70,595) | (10,833) | ||
| ProShares Ultra Yen [Member] | Foreign Currency Forward Contracts [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (106,753) | 171,283 | (115,236) | 93,976 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 68,867 | (16,099) | 49,628 | (128,696) | ||
| ProShares Ultra Yen [Member] | U.S. Government Agencies Short-term Debt Securities [Member] | ||||||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (352) | (74) | (352) | |||
| ProShares UltraShort Australian Dollar [Member] | ||||||
| Investment Income | ||||||
| Interest | 42 | 47,222 | 20,096 | 95,764 | ||
| Expenses | ||||||
| Management fee | 14,888 | 19,898 | 30,018 | 40,978 | ||
| Brokerage commissions | 1,339 | 1,429 | 2,838 | 3,102 | ||
| Total expenses | 16,227 | 21,327 | 32,856 | 44,080 | ||
| Net investment income (loss) | (16,185) | 25,895 | (12,760) | 51,684 | ||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (1,037,904) | 250,116 | (366,954) | 512,861 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (562,236) | (74,593) | 385,144 | (651,797) | ||
| Net realized and unrealized gain (loss) | (1,600,140) | 175,523 | 18,190 | (138,936) | ||
| Net income (loss) | (1,616,325) | 201,418 | 5,430 | (87,252) | ||
| ProShares UltraShort Australian Dollar [Member] | Futures Contracts [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (1,037,904) | 250,116 | (366,954) | 512,861 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (562,236) | (74,786) | 385,350 | (652,001) | ||
| ProShares UltraShort Australian Dollar [Member] | U.S. Government Agencies Short-term Debt Securities [Member] | ||||||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 193 | (206) | 204 | |||
| ProShares UltraShort Bloomberg Crude Oil [Member] | ||||||
| Investment Income | ||||||
| Interest | 6,209 | 424,765 | 254,918 | 786,536 | ||
| Expenses | ||||||
| Management fee | 348,900 | 190,096 | 551,269 | 356,422 | ||
| Brokerage commissions | 346,732 | 18,872 | 423,785 | 28,502 | ||
| Brokerage fees | 93,303 | 93,303 | ||||
| Total expenses | 788,935 | 208,968 | 1,068,357 | 384,924 | ||
| Net investment income (loss) | (782,726) | 215,797 | (813,439) | 401,612 | ||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (6,947,347) | 10,124,322 | 44,726,655 | 969,163 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (75,201,725) | (2,543,494) | 1,379,632 | (35,461,728) | ||
| Net realized and unrealized gain (loss) | (82,149,072) | 7,580,828 | 46,106,287 | (34,492,565) | ||
| Net income (loss) | (82,931,798) | 7,796,625 | 45,292,848 | (34,090,953) | ||
| ProShares UltraShort Bloomberg Crude Oil [Member] | Futures Contracts [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (6,718,825) | (1,994,174) | (214,136) | (5,183,906) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (55,392,539) | 1,408,268 | (555,459) | (4,822,648) | ||
| ProShares UltraShort Bloomberg Crude Oil [Member] | Swap Agreements [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (228,522) | 12,117,296 | 44,940,811 | 6,151,869 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (19,802,897) | (3,960,062) | 1,938,253 | (30,646,178) | ||
| ProShares UltraShort Bloomberg Crude Oil [Member] | U.S. Government Agencies Short-term Debt Securities [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 1,200 | (20) | 1,200 | |||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (6,289) | 8,300 | (3,162) | 7,098 | ||
| ProShares UltraShort Bloomberg Natural Gas [Member] | ||||||
| Investment Income | ||||||
| Interest | 1,371 | 48,278 | 43,803 | 108,153 | ||
| Expenses | ||||||
| Management fee | 36,607 | 20,378 | 69,037 | 49,069 | ||
| Brokerage commissions | 46,462 | 16,181 | 78,743 | 27,881 | ||
| Brokerage fees | 5,349 | 5,349 | ||||
| Total expenses | 88,418 | 36,559 | 153,129 | 76,950 | ||
| Net investment income (loss) | (87,047) | 11,719 | (109,326) | 31,203 | ||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 5,236,091 | 3,449,841 | 10,862,268 | 14,769,166 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (2,774,639) | (546,185) | 560,972 | (10,862,796) | ||
| Net realized and unrealized gain (loss) | 2,461,452 | 2,903,656 | 11,423,240 | 3,906,370 | ||
| Net income (loss) | 2,374,405 | 2,915,375 | 11,313,914 | 3,937,573 | ||
| ProShares UltraShort Bloomberg Natural Gas [Member] | Futures Contracts [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 5,236,641 | 3,449,841 | 10,862,818 | 14,769,166 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (2,773,687) | (546,368) | 561,299 | (10,862,913) | ||
| ProShares UltraShort Bloomberg Natural Gas [Member] | U.S. Government Agencies Short-term Debt Securities [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (550) | (550) | ||||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (952) | 183 | (327) | 117 | ||
| ProShares UltraShort Euro [Member] | ||||||
| Investment Income | ||||||
| Interest | 68,027 | 805,304 | 467,684 | 1,579,922 | ||
| Expenses | ||||||
| Management fee | 213,631 | 334,048 | 477,073 | 674,193 | ||
| Total expenses | 213,631 | 334,048 | 477,073 | 674,193 | ||
| Net investment income (loss) | (145,604) | 471,256 | (9,389) | 905,729 | ||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (2,285,868) | 1,947,370 | (1,238,585) | 5,276,612 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (1,269,683) | (3,843,749) | 1,920,568 | 581,064 | ||
| Net realized and unrealized gain (loss) | (3,555,551) | (1,896,379) | 681,983 | 5,857,676 | ||
| Net income (loss) | (3,701,155) | (1,425,123) | 672,594 | 6,763,405 | ||
| ProShares UltraShort Euro [Member] | Foreign Currency Forward Contracts [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (2,285,868) | 1,947,377 | (1,238,585) | 5,276,619 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (1,212,465) | (3,873,835) | 1,925,466 | 555,595 | ||
| ProShares UltraShort Euro [Member] | U.S. Government Agencies Short-term Debt Securities [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (7) | (7) | ||||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (57,218) | 30,086 | (4,898) | 25,469 | ||
| ProShares UltraShort Gold [Member] | ||||||
| Investment Income | ||||||
| Interest | 2,259 | 102,278 | 63,280 | 197,489 | ||
| Expenses | ||||||
| Management fee | 40,621 | 48,056 | 83,860 | 95,018 | ||
| Brokerage commissions | 1,659 | 1,640 | 3,763 | 2,418 | ||
| Brokerage fees | 1,365 | 1,365 | ||||
| Total expenses | 43,645 | 49,696 | 88,988 | 97,436 | ||
| Net investment income (loss) | (41,386) | 52,582 | (25,708) | 100,053 | ||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (2,089,271) | (1,900,735) | (8,020,153) | (3,069,639) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (2,638,931) | (1,357,012) | 38,043 | (478,986) | ||
| Net realized and unrealized gain (loss) | (4,728,202) | (3,257,747) | (7,982,110) | (3,548,625) | ||
| Net income (loss) | (4,769,588) | (3,205,165) | (8,007,818) | (3,448,572) | ||
| ProShares UltraShort Gold [Member] | Futures Contracts [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (1,667,192) | (665,001) | (3,695,858) | (677,942) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (530,083) | (357,062) | 111,030 | (287,848) | ||
| ProShares UltraShort Gold [Member] | Swap Agreements [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (422,079) | (1,236,071) | (4,324,295) | (1,273,885) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (2,106,843) | (1,001,817) | (72,160) | (1,183,904) | ||
| ProShares UltraShort Gold [Member] | Forward Agreements [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (1,118,149) | |||||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 990,786 | |||||
| ProShares UltraShort Gold [Member] | U.S. Government Agencies Short-term Debt Securities [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 337 | 337 | ||||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (2,005) | 1,867 | (827) | 1,980 | ||
| ProShares UltraShort Silver [Member] | ||||||
| Investment Income | ||||||
| Interest | 651 | 86,447 | 45,187 | 156,561 | ||
| Expenses | ||||||
| Management fee | 25,749 | 41,444 | 62,885 | 78,655 | ||
| Brokerage commissions | 3,940 | 2,826 | 7,921 | 4,175 | ||
| Brokerage fees | 1,675 | 1,675 | ||||
| Total expenses | 31,364 | 44,270 | 72,481 | 82,830 | ||
| Net investment income (loss) | (30,713) | 42,177 | (27,294) | 73,731 | ||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (3,877,739) | 469,531 | (3,035,499) | (920,611) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (2,754,071) | (1,066,289) | 1,436,385 | 1,069,178 | ||
| Net realized and unrealized gain (loss) | (6,631,810) | (596,758) | (1,599,114) | 148,567 | ||
| Net income (loss) | (6,662,523) | (554,581) | (1,626,408) | 222,298 | ||
| ProShares UltraShort Silver [Member] | Futures Contracts [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (912,847) | 351,043 | 1,007,162 | 146,509 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (1,735,991) | (462,919) | (132,984) | (19,394) | ||
| ProShares UltraShort Silver [Member] | Swap Agreements [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (2,964,892) | 118,410 | (4,042,661) | 1,077,300 | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (1,017,191) | (605,662) | 1,570,073 | (706,553) | ||
| ProShares UltraShort Silver [Member] | Forward Agreements [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (2,144,498) | |||||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 1,793,011 | |||||
| ProShares UltraShort Silver [Member] | U.S. Government Agencies Short-term Debt Securities [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 78 | 78 | ||||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (889) | 2,292 | (704) | 2,114 | ||
| ProShares UltraShort Yen [Member] | ||||||
| Investment Income | ||||||
| Interest | 5,143 | 298,433 | 131,326 | 590,801 | ||
| Expenses | ||||||
| Management fee | 64,430 | 122,990 | 148,867 | 247,784 | ||
| Total expenses | 64,430 | 122,990 | 148,867 | 247,784 | ||
| Net investment income (loss) | (59,287) | 175,443 | (17,541) | 343,017 | ||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 110,748 | (2,600,562) | (395,772) | (2,944,042) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 66,461 | 283,682 | (630,608) | 2,717,362 | ||
| Net realized and unrealized gain (loss) | 177,209 | (2,316,880) | (1,026,380) | (226,680) | ||
| Net income (loss) | 117,922 | (2,141,437) | (1,043,921) | 116,337 | ||
| ProShares UltraShort Yen [Member] | Foreign Currency Forward Contracts [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 110,748 | (2,600,562) | (395,772) | (2,943,970) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | 70,456 | 273,224 | (628,889) | 2,706,941 | ||
| ProShares UltraShort Yen [Member] | U.S. Government Agencies Short-term Debt Securities [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (72) | |||||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (3,995) | 10,458 | (1,719) | 10,421 | ||
| ProShares VIX Mid-Term Futures ETF [Member] | ||||||
| Investment Income | ||||||
| Interest | 27,603 | 225,718 | 185,901 | 491,131 | ||
| Expenses | ||||||
| Management fee | 124,276 | 82,759 | 218,560 | 188,570 | ||
| Brokerage commissions | 16,684 | 9,353 | 32,623 | 19,689 | ||
| Brokerage fees | 20,356 | 20,511 | ||||
| Total expenses | 161,316 | 92,112 | 271,694 | 208,259 | ||
| Net investment income (loss) | (133,713) | 133,606 | (85,793) | 282,872 | ||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 13,196,415 | (2,853,263) | 20,952,940 | (7,055,283) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (12,313,533) | 2,001,125 | 3,669,337 | (4,425,324) | ||
| Net realized and unrealized gain (loss) | 882,882 | (852,138) | 24,622,277 | (11,480,607) | ||
| Net income (loss) | 749,169 | (718,532) | 24,536,484 | (11,197,735) | ||
| ProShares VIX Mid-Term Futures ETF [Member] | Futures Contracts [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 13,196,415 | (2,853,271) | 20,952,940 | (7,055,291) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (12,292,490) | 1,993,991 | 3,670,640 | (4,431,788) | ||
| ProShares VIX Mid-Term Futures ETF [Member] | U.S. Government Agencies Short-term Debt Securities [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 8 | 8 | ||||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (21,043) | 7,134 | (1,303) | 6,464 | ||
| ProShares VIX Short-Term Futures ETF [Member] | ||||||
| Investment Income | ||||||
| Interest | 122,772 | 1,284,160 | 1,082,847 | 2,136,366 | ||
| Expenses | ||||||
| Management fee | 398,044 | 486,543 | 1,024,560 | 848,246 | ||
| Brokerage commissions | 60,097 | 70,747 | 244,857 | 83,182 | ||
| Brokerage fees | 108,253 | 2,268 | 113,027 | 3,634 | ||
| Total expenses | 566,394 | 559,558 | 1,382,444 | 935,062 | ||
| Net investment income (loss) | (443,622) | 724,602 | (299,597) | 1,201,304 | ||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (845,717) | (11,286,520) | 324,892,071 | (66,193,104) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (51,868,970) | (11,796,301) | 16,033,274 | (33,080,532) | ||
| Net realized and unrealized gain (loss) | (52,714,687) | (23,082,821) | 340,925,345 | (99,273,636) | ||
| Net income (loss) | (53,158,309) | (22,358,219) | 340,625,748 | (98,072,332) | ||
| ProShares VIX Short-Term Futures ETF [Member] | Futures Contracts [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | (845,717) | (11,288,249) | 324,892,071 | (66,194,833) | ||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | (51,742,832) | (11,833,396) | 16,040,198 | (33,113,187) | ||
| ProShares VIX Short-Term Futures ETF [Member] | U.S. Government Agencies Short-term Debt Securities [Member] | ||||||
| Net realized gain (loss) on | ||||||
| Net realized gain (loss) | 1,729 | 1,729 | ||||
| Change in net unrealized appreciation (depreciation) on | ||||||
| Change in net unrealized appreciation (depreciation) | $ (126,138) | $ 37,095 | $ (6,924) | $ 32,655 | ||
| ||||||
Statements of Changes in Shareholders' Equity - USD ($) |
Total |
[1] | ProShares Short Euro [Member] |
ProShares Short VIX Short-Term Futures ETF [Member] |
ProShares Ultra Bloomberg Crude Oil [Member] |
ProShares Ultra Bloomberg Natural Gas [Member] |
ProShares Ultra Euro [Member] |
ProShares Ultra Gold [Member] |
ProShares Ultra Silver [Member] |
ProShares Ultra VIX Short-Term Futures ETF [Member] |
ProShares Ultra Yen [Member] |
ProShares UltraShort Australian Dollar [Member] |
ProShares UltraShort Bloomberg Crude Oil [Member] |
ProShares UltraShort Bloomberg Natural Gas [Member] |
ProShares UltraShort Euro [Member] |
ProShares UltraShort Gold [Member] |
ProShares UltraShort Silver [Member] |
ProShares UltraShort Yen [Member] |
ProShares VIX Mid-Term Futures ETF [Member] |
ProShares VIX Short-Term Futures ETF [Member] |
||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholders' equity, beginning of period at Dec. 31, 2018 | $ 1,943,975,025 | $ 8,619,686 | $ 344,596,263 | $ 368,399,654 | $ 14,617,440 | $ 7,544,569 | $ 83,523,294 | $ 201,824,376 | $ 214,304,871 | $ 5,751,716 | $ 11,060,333 | $ 114,377,311 | $ 17,825,441 | $ 154,120,159 | $ 18,098,997 | $ 11,768,863 | $ 55,363,675 | $ 56,299,121 | $ 149,547,115 | |||
| Addition of shares | 2,297,433,693 | 13,205,150 | 14,869,996 | 185,702,266 | 55,303,644 | 744,567 | 14,864,857 | 31,578,388 | 1,314,412,456 | 5,758,562 | 143,253,074 | 11,032,627 | 8,834,696 | 28,645,711 | 21,734,371 | 34,403,213 | 17,352,765 | 303,419,296 | ||||
| Redemption of shares | (1,858,376,389) | (120,807,761) | (382,624,512) | (24,773,694) | (2,150,938) | (25,916,920) | (42,812,786) | (670,911,775) | (5,692,048) | (2,609,016) | (155,442,665) | (28,956,799) | (35,144,789) | (25,137,733) | (19,699,491) | (42,187,880) | (24,697,742) | (114,420,951) | ||||
| Net addition (redemption) of shares | 439,057,304 | 13,205,150 | (105,937,765) | (196,922,246) | 30,529,950 | (1,406,371) | (11,052,063) | (11,234,398) | 643,500,681 | 66,514 | (2,609,016) | (12,189,591) | (17,924,172) | (26,310,093) | 3,507,978 | 2,034,880 | (7,784,667) | (7,344,977) | 188,998,345 | |||
| Net investment income (loss) | 9,086,752 | 109,491 | 770,941 | 2,327,111 | 93,929 | 39,752 | 440,872 | 957,627 | 356,496 | 24,239 | 51,684 | 401,612 | 31,203 | 905,729 | 100,053 | 73,731 | 343,017 | 282,872 | 1,201,304 | |||
| Net realized gain (loss) | (171,064,815) | 223,624 | 70,532,942 | 50,615,554 | (21,277,866) | (359,872) | 7,580,942 | 5,286,170 | (250,199,509) | 93,976 | 512,861 | 969,163 | 14,769,166 | 5,276,612 | (3,069,639) | (920,611) | (2,944,042) | (7,055,283) | (66,193,104) | |||
| Change in net unrealized appreciation (depreciation) | 61,844,650 | (30,548) | 27,139,946 | 157,560,555 | 9,674,305 | (16,908) | 4,884,290 | (18,388,937) | (78,621,075) | (129,048) | (651,797) | (35,461,728) | (10,862,796) | 581,064 | (478,986) | 1,069,178 | 2,717,362 | (4,425,324) | (33,080,532) | |||
| Net income (loss) | (100,133,413) | 302,567 | 98,443,829 | 210,503,220 | (11,509,632) | (337,028) | 12,906,104 | (12,145,140) | (328,464,088) | (10,833) | (87,252) | (34,090,953) | 3,937,573 | 6,763,405 | (3,448,572) | 222,298 | 116,337 | (11,197,735) | (98,072,332) | |||
| Shareholders' equity, end of period at Jun. 30, 2019 | 2,282,898,916 | 22,127,403 | 337,102,327 | 381,980,628 | 33,637,758 | 5,801,170 | 85,377,335 | 178,444,838 | 529,341,464 | 5,807,397 | 8,364,065 | 68,096,767 | 3,838,842 | 134,573,471 | 18,158,403 | 14,026,041 | 47,695,345 | 37,756,409 | 240,473,128 | |||
| Shareholders' equity, beginning of period at Mar. 31, 2019 | 2,454,119,778 | 22,213,438 | 441,188,509 | 425,287,296 | 20,900,095 | 7,857,207 | 72,777,302 | 171,571,571 | 547,243,246 | 5,563,510 | 8,162,647 | 75,826,687 | 13,019,491 | 151,445,608 | 21,506,707 | 20,253,916 | 49,650,541 | 51,126,469 | 203,503,203 | |||
| Addition of shares | 1,089,445,005 | 128,741,037 | 23,489,119 | 12,976,110 | 20,942,106 | 585,834,908 | 2,835,708 | 76,776,773 | 6,919,017 | 2,529,264 | 21,408,838 | 10,504,977 | 3,859,717 | 5,983,730 | 129,284,145 | |||||||
| Redemption of shares | (1,149,431,925) | (120,807,761) | (161,532,544) | (2,154,678) | (2,150,938) | (12,789,569) | (15,066,544) | (509,704,555) | (2,756,321) | (92,303,318) | (19,015,041) | (17,976,278) | (21,551,977) | (16,178,271) | (3,673,476) | (18,635,258) | (69,956,001) | |||||
| Net addition (redemption) of shares | (59,986,920) | (120,807,761) | (32,791,507) | 21,334,441 | (2,150,938) | 186,541 | 5,875,562 | 76,130,353 | 79,387 | (15,526,545) | (12,096,024) | (15,447,014) | (143,139) | (5,673,294) | 186,241 | (12,651,528) | 59,328,144 | |||||
| Net investment income (loss) | 5,505,595 | 71,866 | 725,505 | 1,231,167 | 49,884 | 18,923 | 228,086 | 512,068 | 507,125 | 9,668 | 25,895 | 215,797 | 11,719 | 471,256 | 52,582 | 42,177 | 175,443 | 133,606 | 724,602 | |||
| Net realized gain (loss) | (79,154,464) | 76,518 | 11,427,588 | (25,907,850) | (7,975,969) | (132,599) | 3,488,357 | (8,015,752) | (54,976,168) | 171,283 | 250,116 | 10,124,322 | 3,449,841 | 1,947,370 | (1,900,735) | 469,531 | (2,600,562) | (2,853,263) | (11,286,520) | |||
| Change in net unrealized appreciation (depreciation) | (37,585,073) | (234,419) | 4,568,486 | 14,161,522 | (670,693) | 208,577 | 8,697,049 | 8,501,389 | (39,563,092) | (16,451) | (74,593) | (2,543,494) | (546,185) | (3,843,749) | (1,357,012) | (1,066,289) | 283,682 | 2,001,125 | (11,796,301) | |||
| Net income (loss) | (111,233,942) | (86,035) | 16,721,579 | (10,515,161) | (8,596,778) | 94,901 | 12,413,492 | 997,705 | (94,032,135) | 164,500 | 201,418 | 7,796,625 | 2,915,375 | (1,425,123) | (3,205,165) | (554,581) | (2,141,437) | (718,532) | (22,358,219) | |||
| Shareholders' equity, end of period at Jun. 30, 2019 | 2,282,898,916 | 22,127,403 | 337,102,327 | 381,980,628 | 33,637,758 | 5,801,170 | 85,377,335 | 178,444,838 | 529,341,464 | 5,807,397 | 8,364,065 | 68,096,767 | 3,838,842 | 134,573,471 | 18,158,403 | 14,026,041 | 47,695,345 | 37,756,409 | 240,473,128 | |||
| Shareholders' equity, beginning of period at Dec. 31, 2019 | 2,356,325,101 | 2,282,195 | 284,437,179 | 309,844,582 | 45,160,205 | 6,204,424 | 110,726,032 | 239,254,842 | 527,636,003 | 5,580,964 | 5,608,612 | 125,451,681 | 12,515,603 | 120,581,173 | 21,047,560 | 13,834,163 | 38,132,320 | 45,986,584 | 279,792,503 | |||
| Addition of shares | 6,764,199,037 | 914,411,669 | 2,953,530,675 | 54,252,228 | 1,368,038 | 83,989,061 | 56,459,730 | 1,209,649,869 | 668,428,949 | 68,275,223 | 10,058,250 | 15,431,847 | 20,307,202 | 7,806,745 | 40,266,091 | 186,459,674 | ||||||
| Redemption of shares | (4,765,763,951) | (495,607,149) | (912,906,527) | (10,175,449) | (3,303,284) | (61,514,066) | (37,913,081) | (1,411,534,720) | (2,746,014) | (721,351,580) | (63,552,530) | (52,463,052) | (12,620,546) | (22,369,332) | (15,108,110) | (51,703,689) | (585,534,750) | |||||
| Net addition (redemption) of shares | 1,998,435,086 | 418,804,520 | 2,040,624,148 | 44,076,779 | (1,935,246) | 22,474,995 | 18,546,649 | (201,884,851) | (2,746,014) | (52,922,631) | 4,722,693 | (42,404,802) | 2,811,301 | (2,062,130) | (7,301,365) | (11,437,598) | (399,075,076) | |||||
| Net investment income (loss) | (10,887,091) | (3,560) | (2,498,576) | (3,589,951) | (123,647) | (5,455) | (171,013) | (58,411) | (2,815,021) | (4,913) | (12,760) | (813,439) | (109,326) | (9,389) | (25,708) | (27,294) | (17,541) | (85,793) | (299,597) | |||
| Net realized gain (loss) | (696,944,903) | (38,658) | (189,685,599) | (1,176,974,505) | (38,929,789) | (71,903) | 25,863,384 | 7,688,659 | 618,204,440 | (115,236) | (366,954) | 44,726,655 | 10,862,268 | (1,238,585) | (8,020,153) | (3,035,499) | (395,772) | 20,952,940 | 324,892,071 | |||
| Change in net unrealized appreciation (depreciation) | 405,830,497 | 46,490 | (1,245,671) | 338,757,185 | 416,235 | (124,134) | 6,795,652 | (15,759,771) | 51,016,036 | 49,554 | 385,144 | 1,379,632 | 560,972 | 1,920,568 | 38,043 | 1,436,385 | (630,608) | 3,669,337 | 16,033,274 | |||
| Net income (loss) | (302,001,497) | 4,272 | (193,429,846) | (841,807,271) | (38,637,201) | (201,492) | 32,488,023 | (8,129,523) | 666,405,455 | (70,595) | 5,430 | 45,292,848 | 11,313,914 | 672,594 | (8,007,818) | (1,626,408) | (1,043,921) | 24,536,484 | 340,625,748 | |||
| Shareholders' equity, end of period at Jun. 30, 2020 | 4,052,758,690 | 2,286,467 | 509,811,853 | 1,508,661,459 | 50,599,783 | 4,067,686 | 165,689,050 | 249,671,968 | 992,156,607 | 2,764,355 | 5,614,042 | 117,821,898 | 28,552,210 | 78,848,965 | 15,851,043 | 10,145,625 | 29,787,034 | 59,085,470 | 221,343,175 | |||
| Shareholders' equity, beginning of period at Mar. 31, 2020 | 2,746,301,966 | 2,332,843 | 809,257,658 | 435,593,381 | 26,671,617 | 3,949,142 | 128,481,796 | 129,785,536 | 592,820,492 | 2,808,780 | 7,230,367 | 100,094,023 | 17,419,933 | 93,194,599 | 20,569,044 | 18,887,831 | 29,586,170 | 45,034,386 | 223,055,354 | |||
| Addition of shares | 3,679,537,876 | 30,843,161 | 1,895,200,511 | 38,571,988 | 698,183 | 18,995,286 | 42,297,617 | 850,559,658 | 597,199,474 | 39,170,642 | 4,304,184 | 5,742,206 | 14,344,359 | 3,849,992 | 29,558,030 | 108,202,585 | ||||||
| Redemption of shares | (2,102,852,020) | (360,459,662) | (807,895,736) | (3,264,560) | (649,710) | (11,766,451) | (2,764,315) | (215,756,117) | (496,539,801) | (30,412,770) | (14,948,663) | (5,690,619) | (16,424,042) | (3,767,050) | (16,256,115) | (56,756,455) | ||||||
| Net addition (redemption) of shares | 1,576,685,856 | (329,616,501) | 1,087,304,775 | 35,307,428 | 48,473 | 7,228,835 | 39,533,302 | 634,803,541 | 100,659,673 | 8,757,872 | (10,644,479) | 51,587 | (2,079,683) | 82,942 | 13,301,915 | 51,446,130 | ||||||
| Net investment income (loss) | (10,750,167) | (5,552) | (2,142,980) | (3,994,835) | (121,296) | (8,702) | (279,921) | (335,243) | (2,085,756) | (6,539) | (16,185) | (782,726) | (87,047) | (145,604) | (41,386) | (30,713) | (59,287) | (133,713) | (443,622) | |||
| Net realized gain (loss) | (723,732,091) | (20,020) | 54,615,005 | (671,420,708) | (16,111,238) | (18,635) | 4,365,328 | 11,386,313 | (107,880,791) | (106,753) | (1,037,904) | (6,947,347) | 5,236,091 | (2,285,868) | (2,089,271) | (3,877,739) | 110,748 | 13,196,415 | (845,717) | |||
| Change in net unrealized appreciation (depreciation) | 464,253,126 | (20,804) | (22,301,329) | 661,178,846 | 4,853,272 | 97,408 | 25,893,012 | 69,302,060 | (125,500,879) | 68,867 | (562,236) | (75,201,725) | (2,774,639) | (1,269,683) | (2,638,931) | (2,754,071) | 66,461 | (12,313,533) | (51,868,970) | |||
| Net income (loss) | (270,229,132) | (46,376) | 30,170,696 | (14,236,697) | (11,379,262) | 70,071 | 29,978,419 | 80,353,130 | (235,467,426) | (44,425) | (1,616,325) | (82,931,798) | 2,374,405 | (3,701,155) | (4,769,588) | (6,662,523) | 117,922 | 749,169 | (53,158,309) | |||
| Shareholders' equity, end of period at Jun. 30, 2020 | $ 4,052,758,690 | $ 2,286,467 | $ 509,811,853 | $ 1,508,661,459 | $ 50,599,783 | $ 4,067,686 | $ 165,689,050 | $ 249,671,968 | $ 992,156,607 | $ 2,764,355 | $ 5,614,042 | $ 117,821,898 | $ 28,552,210 | $ 78,848,965 | $ 15,851,043 | $ 10,145,625 | $ 29,787,034 | $ 59,085,470 | $ 221,343,175 | |||
| ||||||||||||||||||||||
Statements of Changes in Shareholders' Equity (Parenthetical) - shares |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Addition, shares | 131,642,000 | 33,564,000 | 378,422,000 | 63,101,000 |
| Redemption, shares | 248,554,873 | 31,061,000 | 356,369,873 | 46,416,001 |
| Net addition (redemption), shares | (116,912,873) | 2,503,000 | 22,052,127 | 16,684,999 |
| ProShares Short Euro [Member] | ||||
| Addition, shares | 300,000 | |||
| Net addition (redemption), shares | 300,000 | |||
| ProShares Short VIX Short-Term Futures ETF [Member] | ||||
| Addition, shares | 1,000,000 | 25,850,000 | 300,000 | |
| Redemption, shares | 10,850,000 | 2,250,000 | 13,950,000 | 2,250,000 |
| Net addition (redemption), shares | (9,850,000) | (2,250,000) | 11,900,000 | (1,950,000) |
| ProShares Ultra Bloomberg Crude Oil [Member] | ||||
| Addition, shares | 77,482,000 | 284,000 | 88,162,000 | 416,000 |
| Redemption, shares | 35,569,679 | 296,000 | 36,009,679 | 766,000 |
| Net addition (redemption), shares | 41,912,321 | (12,000) | 52,152,321 | (350,000) |
| ProShares Ultra Bloomberg Natural Gas [Member] | ||||
| Addition, shares | 1,260,000 | 155,000 | 1,485,000 | 285,000 |
| Redemption, shares | 110,288 | 15,000 | 235,288 | 100,000 |
| Net addition (redemption), shares | 1,149,712 | 140,000 | 1,249,712 | 185,000 |
| ProShares Ultra Euro [Member] | ||||
| Addition, shares | 50,000 | 0 | 100,000 | 50,000 |
| Redemption, shares | 50,000 | 150,000 | 250,000 | 150,000 |
| Net addition (redemption), shares | 0 | (150,000) | (150,000) | (100,000) |
| ProShares Ultra Gold [Member] | ||||
| Addition, shares | 300,000 | 350,000 | 1,450,000 | 400,000 |
| Redemption, shares | 200,000 | 350,000 | 1,150,000 | 700,000 |
| Net addition (redemption), shares | 100,000 | 0 | 300,000 | (300,000) |
| ProShares Ultra Silver [Member] | ||||
| Addition, shares | 1,500,000 | 900,000 | 2,250,000 | 1,300,000 |
| Redemption, shares | 100,000 | 650,000 | 1,350,000 | 1,700,000 |
| Net addition (redemption), shares | 1,400,000 | 250,000 | 900,000 | (400,000) |
| ProShares Ultra VIX Short-Term Futures ETF [Member] | ||||
| Addition, shares | 24,850,000 | 17,050,000 | 34,750,000 | 32,200,000 |
| Redemption, shares | 4,850,000 | 13,650,000 | 46,250,000 | 17,400,000 |
| Net addition (redemption), shares | 20,000,000 | 3,400,000 | (11,500,000) | 14,800,000 |
| ProShares Ultra Yen [Member] | ||||
| Addition, shares | 50,000 | 100,000 | ||
| Redemption, shares | 50,000 | 50,000 | 100,000 | |
| Net addition (redemption), shares | (50,000) | |||
| ProShares UltraShort Australian Dollar [Member] | ||||
| Redemption, shares | 50,000 | |||
| Net addition (redemption), shares | 50,000 | |||
| ProShares UltraShort Bloomberg Crude Oil [Member] | ||||
| Addition, shares | 19,000,000 | 4,850,000 | 22,350,000 | 8,250,000 |
| Redemption, shares | 14,600,000 | 5,300,000 | 26,200,000 | 8,050,000 |
| Net addition (redemption), shares | 4,400,000 | (450,000) | (3,850,000) | 200,000 |
| ProShares UltraShort Bloomberg Natural Gas [Member] | ||||
| Addition, shares | 650,000 | 250,000 | 1,200,000 | 500,000 |
| Redemption, shares | 500,000 | 700,000 | 1,100,000 | 1,200,000 |
| Net addition (redemption), shares | 150,000 | (450,000) | 100,000 | (700,000) |
| ProShares UltraShort Euro [Member] | ||||
| Addition, shares | 150,000 | 100,000 | 350,000 | 350,000 |
| Redemption, shares | 550,000 | 700,000 | 1,900,000 | 1,400,000 |
| Net addition (redemption), shares | (400,000) | (600,000) | (1,550,000) | (1,050,000) |
| ProShares UltraShort Gold [Member] | ||||
| Addition, shares | 150,000 | 300,000 | 350,000 | 400,000 |
| Redemption, shares | 150,000 | 300,000 | 300,000 | 350,001 |
| Net addition (redemption), shares | 50,000 | 49,999 | ||
| ProShares UltraShort Silver [Member] | ||||
| Addition, shares | 600,000 | 250,000 | 800,000 | 550,000 |
| Redemption, shares | 600,000 | 400,000 | 800,000 | 500,000 |
| Net addition (redemption), shares | (150,000) | 50,000 | ||
| ProShares UltraShort Yen [Member] | ||||
| Addition, shares | 50,000 | 50,000 | 100,000 | 450,000 |
| Redemption, shares | 50,000 | 50,000 | 200,000 | 550,000 |
| Net addition (redemption), shares | 0 | 0 | (100,000) | (100,000) |
| ProShares VIX Mid-Term Futures ETF [Member] | ||||
| Addition, shares | 725,000 | 275,000 | 1,100,000 | 775,000 |
| Redemption, shares | 425,000 | 875,000 | 1,800,000 | 1,125,000 |
| Net addition (redemption), shares | 300,000 | (600,000) | (700,000) | (350,000) |
| ProShares VIX Short-Term Futures ETF [Member] | ||||
| Addition, shares | 3,875,000 | 5,900,000 | 10,675,000 | 12,125,000 |
| Redemption, shares | 1,825,000 | 2,825,000 | 25,500,000 | 4,475,000 |
| Net addition (redemption), shares | 2,050,000 | 3,075,000 | (14,825,000) | 7,650,000 |
Statements of Cash Flows - USD ($) |
6 Months Ended | |||||
|---|---|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
|||||
| Cash flow from operating activities | ||||||
| Net income (loss) | [1] | $ (302,001,497) | $ (100,133,413) | |||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
| Purchases of short-term U.S. government and agency obligations | [1] | (2,127,562,658) | (24,165,419,304) | |||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | [1] | 2,565,919,168 | 23,771,662,537 | |||
| Net amortization and accretion on short-term U.S. government and agency obligations | [1] | (5,099,914) | (13,916,032) | |||
| Net realized gain (loss) on investments | [1] | (296,898) | (8,934) | |||
| Change in unrealized appreciation (depreciation) on investments | [1] | 22,310,983 | (92,432,428) | |||
| Decrease (Increase) in securities sold receivable | (3,715,089) | [1] | 0 | |||
| Decrease (Increase) in receivable on futures contracts | [1] | (240,436,893) | (24,471,965) | |||
| Decrease (Increase) in interest receivable | [1] | 827,864 | (816,489) | |||
| Increase (Decrease) in payable to Sponsor | [1] | 1,240,353 | 148,440 | |||
| Increase (Decrease) in brokerage commissions and fees payable | 447,958 | [1] | 0 | |||
| Increase (Decrease) in payable on futures contracts | [1] | 99,068,861 | 12,863,394 | |||
| Increase (Decrease) in securities purchased payable | 0 | 9,949,576 | [1] | |||
| Increase (Decrease) in non-recurring fees and expenses payable | 0 | 45,949 | [1] | |||
| Net cash provided by (used in) operating activities | [1] | 10,702,238 | (602,528,669) | |||
| Cash flow from financing activities | ||||||
| Proceeds from addition of shares | [1] | 6,687,250,857 | 2,333,664,338 | |||
| Payment on shares redeemed | [1] | (4,693,302,954) | (1,856,748,399) | |||
| Net cash provided by (used in) financing activities | [1] | 1,993,947,903 | 476,915,939 | |||
| Net increase (decrease) in cash | [1] | 2,004,650,141 | (125,612,730) | |||
| Cash, beginning of period | [1] | 1,190,195,205 | 1,098,678,257 | |||
| Cash, end of period | [1] | 3,194,845,346 | 973,065,527 | |||
| ProShares Short Euro [Member] | ||||||
| Cash flow from operating activities | ||||||
| Net income (loss) | 4,272 | 302,567 | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
| Purchases of short-term U.S. government and agency obligations | 0 | (403,462,168) | ||||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 747,000 | 389,250,000 | ||||
| Net amortization and accretion on short-term U.S. government and agency obligations | (1,225) | (120,268) | ||||
| Change in unrealized appreciation (depreciation) on investments | 30 | (5,173) | ||||
| Decrease (Increase) in receivable on futures contracts | (300) | 0 | ||||
| Decrease (Increase) in interest receivable | 2,158 | (4,867) | ||||
| Increase (Decrease) in payable to Sponsor | (82) | 10,392 | ||||
| Increase (Decrease) in payable on futures contracts | (5,100) | 1,488 | ||||
| Net cash provided by (used in) operating activities | 746,753 | (14,028,029) | ||||
| Cash flow from financing activities | ||||||
| Proceeds from addition of shares | 0 | 13,205,150 | ||||
| Net cash provided by (used in) financing activities | 0 | 13,205,150 | ||||
| Net increase (decrease) in cash | 746,753 | (822,879) | ||||
| Cash, beginning of period | 1,540,916 | 8,024,856 | ||||
| Cash, end of period | 2,287,669 | 7,201,977 | ||||
| ProShares Short VIX Short-Term Futures ETF [Member] | ||||||
| Cash flow from operating activities | ||||||
| Net income (loss) | (193,429,846) | 98,443,829 | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
| Purchases of short-term U.S. government and agency obligations | (339,626,542) | (4,846,330,816) | ||||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 271,998,224 | 4,770,297,014 | ||||
| Net amortization and accretion on short-term U.S. government and agency obligations | (420,582) | (905,335) | ||||
| Net realized gain (loss) on investments | 758 | 8 | ||||
| Change in unrealized appreciation (depreciation) on investments | 2,677 | (24,783) | ||||
| Decrease (Increase) in receivable on futures contracts | (101,415,612) | (16,588,869) | ||||
| Decrease (Increase) in interest receivable | 112,177 | (142,492) | ||||
| Increase (Decrease) in payable to Sponsor | 203,612 | (32,893) | ||||
| Increase (Decrease) in brokerage commissions and fees payable | 153,542 | |||||
| Increase (Decrease) in payable on futures contracts | 17,172,752 | (13,170,649) | ||||
| Increase (Decrease) in non-recurring fees and expenses payable | 0 | 45,949 | ||||
| Net cash provided by (used in) operating activities | (345,248,840) | (8,409,037) | ||||
| Cash flow from financing activities | ||||||
| Proceeds from addition of shares | 914,411,669 | 14,869,996 | ||||
| Payment on shares redeemed | (495,607,149) | (120,807,761) | ||||
| Net cash provided by (used in) financing activities | 418,804,520 | (105,937,765) | ||||
| Net increase (decrease) in cash | 73,555,680 | (114,346,802) | ||||
| Cash, beginning of period | 167,544,087 | 296,898,455 | ||||
| Cash, end of period | 241,099,767 | 182,551,653 | ||||
| ProShares Ultra Bloomberg Crude Oil [Member] | ||||||
| Cash flow from operating activities | ||||||
| Net income (loss) | (841,807,271) | 210,503,220 | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
| Purchases of short-term U.S. government and agency obligations | (409,801,073) | (3,352,711,813) | ||||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 611,325,152 | 3,331,489,226 | ||||
| Net amortization and accretion on short-term U.S. government and agency obligations | (1,263,236) | (3,932,225) | ||||
| Net realized gain (loss) on investments | (159,318) | (3,873) | ||||
| Change in unrealized appreciation (depreciation) on investments | 11,790,205 | (136,791,634) | ||||
| Decrease (Increase) in securities sold receivable | (3,718,972) | 0 | ||||
| Decrease (Increase) in receivable on futures contracts | (108,300,298) | 24,304 | ||||
| Decrease (Increase) in interest receivable | 45,517 | (16,014) | ||||
| Increase (Decrease) in payable to Sponsor | 990,466 | (5,603) | ||||
| Increase (Decrease) in payable on futures contracts | 52,061,296 | 837,635 | ||||
| Net cash provided by (used in) operating activities | (688,837,532) | 49,393,223 | ||||
| Cash flow from financing activities | ||||||
| Proceeds from addition of shares | 2,953,530,675 | 198,693,930 | ||||
| Payment on shares redeemed | (840,445,530) | (370,585,601) | ||||
| Net cash provided by (used in) financing activities | 2,113,085,145 | (171,891,671) | ||||
| Net increase (decrease) in cash | 1,424,247,613 | (122,498,448) | ||||
| Cash, beginning of period | 88,315,563 | 148,018,312 | ||||
| Cash, end of period | 1,512,563,176 | 25,519,864 | ||||
| ProShares Ultra Bloomberg Natural Gas [Member] | ||||||
| Cash flow from operating activities | ||||||
| Net income (loss) | (38,637,201) | (11,509,632) | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
| Purchases of short-term U.S. government and agency obligations | (41,900,001) | (360,279,681) | ||||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 53,563,843 | 360,846,346 | ||||
| Net amortization and accretion on short-term U.S. government and agency obligations | (131,818) | (161,961) | ||||
| Net realized gain (loss) on investments | (977) | (25) | ||||
| Change in unrealized appreciation (depreciation) on investments | 1,559 | (515) | ||||
| Decrease (Increase) in receivable on futures contracts | (1,646,280) | 0 | ||||
| Decrease (Increase) in interest receivable | 9,728 | (17,364) | ||||
| Increase (Decrease) in payable to Sponsor | (8,931) | (3,748) | ||||
| Increase (Decrease) in payable on futures contracts | 0 | (2,401,095) | ||||
| Net cash provided by (used in) operating activities | (28,750,078) | (13,527,675) | ||||
| Cash flow from financing activities | ||||||
| Proceeds from addition of shares | 54,252,228 | 57,832,401 | ||||
| Payment on shares redeemed | (10,175,449) | (24,773,694) | ||||
| Net cash provided by (used in) financing activities | 44,076,779 | 33,058,707 | ||||
| Net increase (decrease) in cash | 15,326,701 | 19,531,032 | ||||
| Cash, beginning of period | 17,619,062 | 7,030,602 | ||||
| Cash, end of period | 32,945,763 | 26,561,634 | ||||
| ProShares Ultra Euro [Member] | ||||||
| Cash flow from operating activities | ||||||
| Net income (loss) | (201,492) | (337,028) | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
| Purchases of short-term U.S. government and agency obligations | (1,395,795) | (63,632,024) | ||||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 5,375,000 | 65,150,000 | ||||
| Net amortization and accretion on short-term U.S. government and agency obligations | (9,001) | (21,311) | ||||
| Change in unrealized appreciation (depreciation) on investments | 124,134 | 16,908 | ||||
| Decrease (Increase) in interest receivable | 1,086 | (2,836) | ||||
| Increase (Decrease) in payable to Sponsor | (1,916) | (1,039) | ||||
| Net cash provided by (used in) operating activities | 3,892,016 | 1,172,670 | ||||
| Cash flow from financing activities | ||||||
| Proceeds from addition of shares | 1,368,038 | 744,567 | ||||
| Payment on shares redeemed | (3,303,284) | (1,425,765) | ||||
| Net cash provided by (used in) financing activities | (1,935,246) | (681,198) | ||||
| Net increase (decrease) in cash | 1,956,770 | 491,472 | ||||
| Cash, beginning of period | 2,127,437 | 5,989,270 | ||||
| Cash, end of period | 4,084,207 | 6,480,742 | ||||
| ProShares Ultra Gold [Member] | ||||||
| Cash flow from operating activities | ||||||
| Net income (loss) | 32,488,023 | 12,906,104 | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
| Purchases of short-term U.S. government and agency obligations | (171,756,777) | (736,475,693) | ||||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 137,257,000 | 712,780,072 | ||||
| Net amortization and accretion on short-term U.S. government and agency obligations | (310,838) | (714,806) | ||||
| Net realized gain (loss) on investments | 0 | (402) | ||||
| Change in unrealized appreciation (depreciation) on investments | (4,755,982) | (2,124,332) | ||||
| Decrease (Increase) in receivable on futures contracts | (957,235) | 0 | ||||
| Decrease (Increase) in interest receivable | 43,172 | (4,373) | ||||
| Increase (Decrease) in payable to Sponsor | 25,225 | (2,049) | ||||
| Increase (Decrease) in payable on futures contracts | 0 | 49,418 | ||||
| Net cash provided by (used in) operating activities | (7,967,412) | (13,586,061) | ||||
| Cash flow from financing activities | ||||||
| Proceeds from addition of shares | 83,989,061 | 14,864,857 | ||||
| Payment on shares redeemed | (61,514,066) | (29,629,574) | ||||
| Net cash provided by (used in) financing activities | 22,474,995 | (14,764,717) | ||||
| Net increase (decrease) in cash | 14,507,583 | (28,350,778) | ||||
| Cash, beginning of period | 38,526,723 | 41,098,043 | ||||
| Cash, end of period | 53,034,306 | 12,747,265 | ||||
| ProShares Ultra Silver [Member] | ||||||
| Cash flow from operating activities | ||||||
| Net income (loss) | (8,129,523) | (12,145,140) | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
| Purchases of short-term U.S. government and agency obligations | (234,541,441) | (1,328,212,359) | ||||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 259,705,000 | 1,320,499,286 | ||||
| Net amortization and accretion on short-term U.S. government and agency obligations | (610,089) | (1,611,840) | ||||
| Net realized gain (loss) on investments | (132) | |||||
| Change in unrealized appreciation (depreciation) on investments | 16,141,791 | 19,126,427 | ||||
| Decrease (Increase) in receivable on futures contracts | (4,663,920) | 0 | ||||
| Decrease (Increase) in interest receivable | 84,509 | (47,723) | ||||
| Increase (Decrease) in payable to Sponsor | (9,140) | (13,359) | ||||
| Increase (Decrease) in payable on futures contracts | (398,936) | 61,102 | ||||
| Net cash provided by (used in) operating activities | 27,578,251 | (2,343,738) | ||||
| Cash flow from financing activities | ||||||
| Proceeds from addition of shares | 49,334,251 | 31,578,388 | ||||
| Payment on shares redeemed | (37,913,081) | (42,812,786) | ||||
| Net cash provided by (used in) financing activities | 11,421,170 | (11,234,398) | ||||
| Net increase (decrease) in cash | 38,999,421 | (13,578,136) | ||||
| Cash, beginning of period | 79,058,662 | 51,907,742 | ||||
| Cash, end of period | 118,058,083 | 38,329,606 | ||||
| ProShares Ultra VIX Short-Term Futures ETF [Member] | ||||||
| Cash flow from operating activities | ||||||
| Net income (loss) | 666,405,455 | (328,464,088) | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
| Purchases of short-term U.S. government and agency obligations | (295,430,934) | (4,484,535,007) | ||||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 379,000,000 | 4,370,237,635 | ||||
| Net amortization and accretion on short-term U.S. government and agency obligations | (818,563) | (1,027,843) | ||||
| Net realized gain (loss) on investments | 0 | 350 | ||||
| Change in unrealized appreciation (depreciation) on investments | 3,763,464 | 851,323 | ||||
| Decrease (Increase) in receivable on futures contracts | (18,827,433) | (7,423,045) | ||||
| Decrease (Increase) in interest receivable | 183,042 | (407,192) | ||||
| Increase (Decrease) in payable to Sponsor | 189,418 | 241,897 | ||||
| Increase (Decrease) in brokerage commissions and fees payable | 248,909 | 0 | ||||
| Increase (Decrease) in payable on futures contracts | 27,599,533 | 17,934,744 | ||||
| Net cash provided by (used in) operating activities | 762,312,891 | (432,591,226) | ||||
| Cash flow from financing activities | ||||||
| Proceeds from addition of shares | 1,147,154,570 | 1,305,852,193 | ||||
| Payment on shares redeemed | (1,411,534,720) | (670,911,775) | ||||
| Net cash provided by (used in) financing activities | (264,380,150) | 634,940,418 | ||||
| Net increase (decrease) in cash | 497,932,741 | 202,349,192 | ||||
| Cash, beginning of period | 361,561,329 | 202,920,595 | ||||
| Cash, end of period | 859,494,070 | 405,269,787 | ||||
| ProShares Ultra Yen [Member] | ||||||
| Cash flow from operating activities | ||||||
| Net income (loss) | (70,595) | (10,833) | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
| Purchases of short-term U.S. government and agency obligations | (99,700) | (40,320,918) | ||||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 1,911,000 | 36,350,000 | ||||
| Net amortization and accretion on short-term U.S. government and agency obligations | (3,270) | (9,569) | ||||
| Change in unrealized appreciation (depreciation) on investments | (49,554) | 129,048 | ||||
| Decrease (Increase) in interest receivable | 4,445 | (2,458) | ||||
| Increase (Decrease) in payable to Sponsor | (2,307) | 2,080 | ||||
| Net cash provided by (used in) operating activities | 1,690,019 | (3,862,650) | ||||
| Cash flow from financing activities | ||||||
| Proceeds from addition of shares | 0 | 8,605,138 | ||||
| Payment on shares redeemed | (2,746,014) | (5,692,048) | ||||
| Net cash provided by (used in) financing activities | (2,746,014) | 2,913,090 | ||||
| Net increase (decrease) in cash | (1,055,995) | (949,560) | ||||
| Cash, beginning of period | 3,783,138 | 2,726,531 | ||||
| Cash, end of period | 2,727,143 | 1,776,971 | ||||
| ProShares UltraShort Australian Dollar [Member] | ||||||
| Cash flow from operating activities | ||||||
| Net income (loss) | 5,430 | (87,252) | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
| Purchases of short-term U.S. government and agency obligations | (498,498) | (127,013,643) | ||||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 4,436,000 | 124,350,000 | ||||
| Net amortization and accretion on short-term U.S. government and agency obligations | (6,234) | (23,242) | ||||
| Change in unrealized appreciation (depreciation) on investments | 206 | (204) | ||||
| Decrease (Increase) in receivable on futures contracts | 0 | 6,300 | ||||
| Decrease (Increase) in interest receivable | 1,051 | (3,206) | ||||
| Increase (Decrease) in payable to Sponsor | (313) | (1,688) | ||||
| Increase (Decrease) in payable on futures contracts | 27,662 | 34,377 | ||||
| Net cash provided by (used in) operating activities | 3,965,304 | (2,738,558) | ||||
| Cash flow from financing activities | ||||||
| Payment on shares redeemed | 0 | (2,609,016) | ||||
| Net cash provided by (used in) financing activities | 0 | (2,609,016) | ||||
| Net increase (decrease) in cash | 3,965,304 | (5,347,574) | ||||
| Cash, beginning of period | 1,717,873 | 10,754,381 | ||||
| Cash, end of period | 5,683,177 | 5,406,807 | ||||
| ProShares UltraShort Bloomberg Crude Oil [Member] | ||||||
| Cash flow from operating activities | ||||||
| Net income (loss) | 45,292,848 | (34,090,953) | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
| Purchases of short-term U.S. government and agency obligations | (32,897,274) | (1,262,653,154) | ||||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 95,246,647 | 1,254,901,091 | ||||
| Net amortization and accretion on short-term U.S. government and agency obligations | (153,272) | (575,172) | ||||
| Net realized gain (loss) on investments | 20 | (1,200) | ||||
| Change in unrealized appreciation (depreciation) on investments | (1,935,091) | 30,639,080 | ||||
| Decrease (Increase) in receivable on futures contracts | (7,541,741) | 133,867 | ||||
| Decrease (Increase) in interest receivable | 49,379 | (15,625) | ||||
| Increase (Decrease) in payable to Sponsor | (6,937) | (38,028) | ||||
| Increase (Decrease) in payable on futures contracts | 7,318,957 | 211,556 | ||||
| Increase (Decrease) in securities purchased payable | 0 | 9,949,576 | ||||
| Net cash provided by (used in) operating activities | 105,373,536 | (1,538,962) | ||||
| Cash flow from financing activities | ||||||
| Proceeds from addition of shares | 664,462,079 | 167,079,837 | ||||
| Payment on shares redeemed | (721,351,580) | (155,442,665) | ||||
| Net cash provided by (used in) financing activities | (56,889,501) | 11,637,172 | ||||
| Net increase (decrease) in cash | 48,484,035 | 10,098,210 | ||||
| Cash, beginning of period | 61,909,177 | 39,972,133 | ||||
| Cash, end of period | 110,393,212 | 50,070,343 | ||||
| ProShares UltraShort Bloomberg Natural Gas [Member] | ||||||
| Cash flow from operating activities | ||||||
| Net income (loss) | 11,313,914 | 3,937,573 | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
| Purchases of short-term U.S. government and agency obligations | (12,989,707) | (194,019,735) | ||||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 16,159,778 | 193,550,000 | ||||
| Net amortization and accretion on short-term U.S. government and agency obligations | (15,964) | (29,660) | ||||
| Net realized gain (loss) on investments | 550 | 0 | ||||
| Change in unrealized appreciation (depreciation) on investments | 327 | (117) | ||||
| Decrease (Increase) in receivable on futures contracts | 0 | 3,094,499 | ||||
| Decrease (Increase) in interest receivable | 5,305 | 1,501 | ||||
| Increase (Decrease) in payable to Sponsor | 3,188 | (10,868) | ||||
| Increase (Decrease) in payable on futures contracts | 1,508,752 | 11,236 | ||||
| Net cash provided by (used in) operating activities | 15,986,143 | 6,534,429 | ||||
| Cash flow from financing activities | ||||||
| Proceeds from addition of shares | 64,914,691 | 11,032,627 | ||||
| Payment on shares redeemed | (63,552,530) | (33,278,387) | ||||
| Net cash provided by (used in) financing activities | 1,362,161 | (22,245,760) | ||||
| Net increase (decrease) in cash | 17,348,304 | (15,711,331) | ||||
| Cash, beginning of period | 7,370,891 | 18,756,222 | ||||
| Cash, end of period | 24,719,195 | 3,044,891 | ||||
| ProShares UltraShort Euro [Member] | ||||||
| Cash flow from operating activities | ||||||
| Net income (loss) | 672,594 | 6,763,405 | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
| Purchases of short-term U.S. government and agency obligations | (141,766,749) | (1,268,345,577) | ||||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 145,685,000 | 1,267,088,249 | ||||
| Net amortization and accretion on short-term U.S. government and agency obligations | (320,957) | (1,424,002) | ||||
| Net realized gain (loss) on investments | 0 | 7 | ||||
| Change in unrealized appreciation (depreciation) on investments | (1,920,568) | (581,064) | ||||
| Decrease (Increase) in interest receivable | 59,730 | (12,166) | ||||
| Increase (Decrease) in payable to Sponsor | (35,967) | (22,201) | ||||
| Net cash provided by (used in) operating activities | 2,373,083 | 3,466,651 | ||||
| Cash flow from financing activities | ||||||
| Proceeds from addition of shares | 10,058,250 | 8,834,696 | ||||
| Payment on shares redeemed | (52,463,052) | (37,571,809) | ||||
| Net cash provided by (used in) financing activities | (42,404,802) | (28,737,113) | ||||
| Net increase (decrease) in cash | (40,031,719) | (25,270,462) | ||||
| Cash, beginning of period | 44,280,278 | 36,353,995 | ||||
| Cash, end of period | 4,248,559 | 11,083,533 | ||||
| ProShares UltraShort Gold [Member] | ||||||
| Cash flow from operating activities | ||||||
| Net income (loss) | (8,007,818) | (3,448,572) | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
| Purchases of short-term U.S. government and agency obligations | (14,982,323) | (321,841,257) | ||||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 19,371,000 | 313,978,906 | ||||
| Net amortization and accretion on short-term U.S. government and agency obligations | (33,878) | (106,009) | ||||
| Net realized gain (loss) on investments | 0 | (337) | ||||
| Change in unrealized appreciation (depreciation) on investments | 72,987 | 191,138 | ||||
| Decrease (Increase) in receivable on futures contracts | (13,574) | 1,700 | ||||
| Decrease (Increase) in interest receivable | 11,031 | 945 | ||||
| Increase (Decrease) in payable to Sponsor | (4,065) | (2,611) | ||||
| Increase (Decrease) in payable on futures contracts | 21,109 | 44,120 | ||||
| Net cash provided by (used in) operating activities | (3,565,531) | (11,181,977) | ||||
| Cash flow from financing activities | ||||||
| Proceeds from addition of shares | 15,431,847 | 28,645,711 | ||||
| Payment on shares redeemed | (12,620,546) | (25,137,733) | ||||
| Net cash provided by (used in) financing activities | 2,811,301 | 3,507,978 | ||||
| Net increase (decrease) in cash | (754,230) | (7,673,999) | ||||
| Cash, beginning of period | 9,895,915 | 15,103,332 | ||||
| Cash, end of period | 9,141,685 | 7,429,333 | ||||
| ProShares UltraShort Silver [Member] | ||||||
| Cash flow from operating activities | ||||||
| Net income (loss) | (1,626,408) | 222,298 | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
| Purchases of short-term U.S. government and agency obligations | (4,386,261) | (242,535,041) | ||||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 13,574,000 | 237,338,927 | ||||
| Net amortization and accretion on short-term U.S. government and agency obligations | (25,576) | (88,077) | ||||
| Net realized gain (loss) on investments | 0 | (78) | ||||
| Change in unrealized appreciation (depreciation) on investments | (1,569,369) | (1,088,572) | ||||
| Decrease (Increase) in receivable on futures contracts | (99,620) | 0 | ||||
| Decrease (Increase) in interest receivable | 3,305 | 451 | ||||
| Increase (Decrease) in payable to Sponsor | (1,854) | 760 | ||||
| Increase (Decrease) in payable on futures contracts | 119,004 | 17,123 | ||||
| Net cash provided by (used in) operating activities | 5,987,221 | (6,132,209) | ||||
| Cash flow from financing activities | ||||||
| Proceeds from addition of shares | 20,307,202 | 21,734,371 | ||||
| Payment on shares redeemed | (22,369,332) | (19,699,491) | ||||
| Net cash provided by (used in) financing activities | (2,062,130) | 2,034,880 | ||||
| Net increase (decrease) in cash | 3,925,091 | (4,097,329) | ||||
| Cash, beginning of period | 6,646,212 | 10,276,096 | ||||
| Cash, end of period | 10,571,303 | 6,178,767 | ||||
| ProShares UltraShort Yen [Member] | ||||||
| Cash flow from operating activities | ||||||
| Net income (loss) | (1,043,921) | 116,337 | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
| Purchases of short-term U.S. government and agency obligations | (33,756,620) | (601,357,534) | ||||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 38,374,000 | 596,730,872 | ||||
| Net amortization and accretion on short-term U.S. government and agency obligations | (74,323) | (485,636) | ||||
| Net realized gain (loss) on investments | 0 | 72 | ||||
| Change in unrealized appreciation (depreciation) on investments | 630,608 | (2,717,362) | ||||
| Decrease (Increase) in interest receivable | 18,673 | (4,985) | ||||
| Increase (Decrease) in payable to Sponsor | (10,267) | (11,346) | ||||
| Net cash provided by (used in) operating activities | 4,138,150 | (7,729,582) | ||||
| Cash flow from financing activities | ||||||
| Proceeds from addition of shares | 7,806,745 | 34,403,213 | ||||
| Payment on shares redeemed | (15,108,110) | (42,187,880) | ||||
| Net cash provided by (used in) financing activities | (7,301,365) | (7,784,667) | ||||
| Net increase (decrease) in cash | (3,163,215) | (15,514,249) | ||||
| Cash, beginning of period | 12,507,112 | 23,570,254 | ||||
| Cash, end of period | 9,343,897 | 8,056,005 | ||||
| ProShares VIX Mid-Term Futures ETF [Member] | ||||||
| Cash flow from operating activities | ||||||
| Net income (loss) | 24,536,484 | (11,197,735) | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
| Purchases of short-term U.S. government and agency obligations | (56,521,597) | (1,129,300,462) | ||||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 37,600,000 | 1,110,779,598 | ||||
| Net amortization and accretion on short-term U.S. government and agency obligations | (93,897) | (200,869) | ||||
| Net realized gain (loss) on investments | 0 | (8) | ||||
| Change in unrealized appreciation (depreciation) on investments | 1,303 | (6,464) | ||||
| Decrease (Increase) in interest receivable | 32,263 | 318 | ||||
| Increase (Decrease) in payable to Sponsor | 16,037 | (9,196) | ||||
| Increase (Decrease) in brokerage commissions and fees payable | 7,125 | 0 | ||||
| Increase (Decrease) in payable on futures contracts | 666,116 | 88,477 | ||||
| Net cash provided by (used in) operating activities | 6,243,834 | (29,846,341) | ||||
| Cash flow from financing activities | ||||||
| Proceeds from addition of shares | 40,266,091 | 17,352,765 | ||||
| Payment on shares redeemed | (51,703,689) | (25,372,574) | ||||
| Net cash provided by (used in) financing activities | (11,437,598) | (8,019,809) | ||||
| Net increase (decrease) in cash | (5,193,764) | (37,866,150) | ||||
| Cash, beginning of period | 33,130,653 | 57,542,424 | ||||
| Cash, end of period | 27,936,889 | 19,676,274 | ||||
| ProShares VIX Short-Term Futures ETF [Member] | ||||||
| Cash flow from operating activities | ||||||
| Net income (loss) | 340,625,748 | (98,072,332) | ||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
| Purchases of short-term U.S. government and agency obligations | (200,571,287) | (1,341,150,168) | ||||
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 235,000,000 | 1,310,835,959 | ||||
| Net amortization and accretion on short-term U.S. government and agency obligations | (556,687) | (1,511,767) | ||||
| Net realized gain (loss) on investments | 0 | (1,729) | ||||
| Change in unrealized appreciation (depreciation) on investments | 6,924 | (32,655) | ||||
| Decrease (Increase) in receivable on futures contracts | 909,042 | (3,752,001) | ||||
| Decrease (Increase) in interest receivable | 115,060 | (129,329) | ||||
| Increase (Decrease) in payable to Sponsor | 32,318 | 35,914 | ||||
| Increase (Decrease) in brokerage commissions and fees payable | 38,382 | 0 | ||||
| Increase (Decrease) in payable on futures contracts | (4,946,520) | 4,113,888 | ||||
| Net cash provided by (used in) operating activities | 370,652,980 | (129,664,220) | ||||
| Cash flow from financing activities | ||||||
| Proceeds from addition of shares | 186,459,674 | 303,419,296 | ||||
| Payment on shares redeemed | (585,534,750) | (114,420,951) | ||||
| Net cash provided by (used in) financing activities | (399,075,076) | 188,998,345 | ||||
| Net increase (decrease) in cash | (28,422,096) | 59,334,125 | ||||
| Cash, beginning of period | 194,935,341 | 39,393,419 | ||||
| Cash, end of period | $ 166,513,245 | $ 98,727,544 | ||||
| ||||||
Organization |
6 Months Ended | ||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2020 | |||||||||||||||||||||||||||||||||
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||
| Organization | NOTE 1 - ORGANIZATION ProShares Trust II (the “Trust”) is a Delaware statutory trust formed on October 9, 2007 and is currently organized into separate series (each, a “Fund” and collectively, the “Funds”). As of June 30, 2020, the following eighteen series of the Trust have commenced investment operations: (i) ProShares VIX Short-Term Futures ETF and ProShares VIX Mid-Term Futures ETF (each, a “Matching VIX Fund” and collectively, the “Matching VIX Funds”); (ii) ProShares Short VIX Short-Term Futures ETF and ProShares Ultra VIX Short-Term Futures ETF (each, a “Geared VIX Fund” and collectively, the “Geared VIX Funds”); (iii) ProShares UltraShort Bloomberg Crude Oil, ProShares UltraShort Bloomberg Natural Gas, ProShares UltraShort Gold, ProShares UltraShort Silver, ProShares UltraShort Australian Dollar, ProShares UltraShort Euro, ProShares UltraShort Yen, ProShares Ultra Bloomberg Crude Oil, ProShares Ultra Bloomberg Natural Gas, ProShares Ultra Gold, ProShares Ultra Silver, ProShares Ultra Euro and ProShares Ultra Yen (each, a “Leveraged Fund” and collectively, the “Leveraged Funds”); and (iv) ProShares Short Euro (the “Short Euro Fund”). Each of the Funds listed above issues common units of beneficial interest (“Shares”), which represent units of fractional undivided beneficial interest in and ownership of only that Fund. The Shares of each Fund are listed on the NYSE Arca, Inc. (“NYSE Arca”). The Leveraged Funds, the Short Euro Fund and the Geared VIX Funds, are collectively referred to as the “Geared Funds” in these Notes to Financial Statements. The Geared VIX Funds and the Matching VIX Funds are collectively referred to as the “VIX Funds” in these Notes to Financial Statements.On March 15, 2020 ProShares Capital Management LLC announced that it planned to close and liquidate ProShares UltraPro 3x Crude Oil ETF (ticker symbol: OILU) and ProShares UltraPro 3x Short Crude Oil ETF (ticker symbol: OILD), together, the “liquidated funds”. The last day the liquidated funds accepted creation orders was on March 27, 2020. Trading in each liquidated fund was suspended prior to market open on March 30, 2020. Proceeds of the liquidation were sent to shareholders on April 3, 2020 (the “Distribution Date”). From March 30, 2020 through the Distribution Date, shares of the liquidated funds did not trade on the NYSE Arca nor was there a secondary market for the shares. Any shareholders that remained in a liquidated fund on the Distribution Date automatically had their shares redeemed for cash at the current net asset value on April 3, 2020. The Trust had no operations prior to November 24, 2008, other than matters relating to its organization, the registration of each series under the Securities Act of 1933, as amended, and the sale and issuance to ProShare Capital Management LLC (the “Sponsor”) of fourteen Shares at an aggregate purchase price of $350 in each of the following Funds: ProShares UltraShort Bloomberg Crude Oil, ProShares UltraShort Gold, ProShares UltraShort Silver, ProShares UltraShort Euro, ProShares UltraShort Yen, ProShares Ultra Bloomberg Crude Oil, ProShares Ultra Gold, ProShares Ultra Silver, ProShares Ultra Euro and ProShares Ultra Yen. Groups of Funds are collectively referred to in several different ways. References to “Short Funds,” “UltraShort Funds,” “UltraPro Short Funds,” “Ultra Funds” or “UltraPro Funds” refer to the different Funds based upon their investment objectives, but without distinguishing among the Funds’ benchmarks. References to “Commodity Index Funds,” “Commodity Funds” and “Currency Funds” refer to the different Funds according to their general benchmark categories without distinguishing among the Funds’ investment objectives or Fund-specific benchmarks. References to “VIX Funds” refer to the different Funds based upon their investment objective and their general benchmark categories. Each “Short” Fund seeks daily investment results, before fees and expenses, that correspond to either one-half the inverse (-0.5x) or the inverse (-1x) of the daily performance of its corresponding benchmark. Each “UltraShort” Fund seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of its corresponding benchmark. Each “UltraPro Short” Fund seeks daily investment results, before fees and expenses, that correspond to three times the inverse (-3x) of the daily performance of its corresponding benchmark. Each “Ultra” Fund seeks daily investment results, before fees and expenses, that correspond to either one and one-half times (1.5x) or two times (2x) the daily performance of its corresponding benchmark. Each “UltraPro” Fund seeks daily investment results, before fees and expenses, that correspond to three times (3x) the daily performance of its corresponding benchmark. Each Matching VIX Fund seeks investment results, before fees and expenses, both for a single day and over time, that match (1x) the performance of its corresponding benchmark. Daily performance is measured from the calculation of each Fund’s net asset value (“NAV”) to the Fund’s next NAV calculation.The Geared Funds do not seek to achieve their stated investment objectives over a period of time greater than a because mathematical compounding prevents the Geared Funds from achieving such results. Accordingly, results over periods of time greater than a single day should not be expected to be a simple multiple (e.g., -0.5x, -1x, -2x, -3x, 1.5x, 2x or 3x) of the period return of the corresponding benchmark and will likely differ significantly.Share Splits and Reverse Share Splits The table below includes Share splits and reverse Share splits for the Funds during the year ended December 31, 2019 and during the six months ended June 30, 2020. The ticker symbols for these Funds did not change, and each Fund continues to trade on the NYSE Arca.
The reverse splits were applied retroactively for all periods presented, reducing the number of Shares outstanding for each of the Funds, and resulted in a proportionate increase in the price per Share and per Share information of each such Fund. Therefore, the reverse splits did not change the aggregate net asset value of a shareholder’s investment at the time of the reverse split. |
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Significant Accounting Policies |
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| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Significant Accounting Policies | NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES Each Fund is an investment company, as defined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946 “Financial Services — Investment Companies. “ As such, the Funds follow the investment company accounting and reporting guidance. The following is a summary of significant accounting policies followed by each Fund, as applicable, in preparation of its financial statements. These policies are in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The accompanying unaudited financial statements were prepared in accordance with GAAP for interim financial information and with the instructions for Form 10-Q and the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of management, all material adjustments, consisting only of normal recurring adjustments, considered necessary for a fair statement of the interim period financial statements have been made. Interim period results are not necessarily indicative of results for a full-year period. These financial statements and the notes thereto should be read in conjunction with the Trust’s and the Funds’ financial statements included in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2019, as filed with the SEC on February 28, 2020.Use of Estimates & Indemnifications The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In the normal course of business, the Trust enters into contracts that contain a variety of representations which provide general indemnifications. The Trust’s maximum exposure under these arrangements cannot be known; however, the Trust expects any risk of loss to be remote. Basis of Presentation Pursuant to rules and regulations of the SEC, these financial statements are presented for the Trust as a whole, as the SEC registrant, and for each Fund individually. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular Fund shall be enforceable only against the assets of such Fund and not against the assets of the Trust generally or any other Fund. Accordingly, the assets of each Fund of the Trust include only those funds and other assets that are paid to, held by or distributed to the Trust for the purchase of Shares in that Fund. Statement of Cash Flows The cash amount shown in the Statements of Cash Flows is the amount reported as cash in the Statement of Financial Condition dated June 30, 2020 and 2019, and represents cash, segregated cash balances with brokers for futures contracts, segregated cash with brokers for swap agreements, segregated cash with brokers for forward agreements, and segregated cash with brokers for foreign currency forward agreements but does not include short-term investments. Final Net Asset Value for Fiscal Period The cut-off times and the times of the calculation of the Funds’ final net asset value for creation and redemption of fund Shares for the six months ended June 30, 2020 were typically as follows. All times are Eastern Standard Time:
Market value per Share is determined at the close of the NYSE Arca and may be later than when the Funds’ NAV per Share is calculated. For financial reporting purposes, the Funds value transactions based upon the final closing price in their primary markets. Accordingly, the investment valuations in these financial statements may differ from those used in the calculation of certain of the Funds’ final creation/redemption NAV for the six months ended June 30, 2020. Investment Valuation Short-term investments are valued at amortized cost which approximates fair value for daily NAV purposes. For financial reporting purposes, short-term investments are valued at their market price using information provided by a third-party pricing service or market quotations. In each of these situations, valuations are typically categorized as Level I in the fair value hierarchy. Derivatives (e.g., futures contracts, options, swap agreements, forward agreements and foreign currency forward contracts) are generally valued using independent sources and/or agreements with counterparties or other procedures as determined by the Sponsor. Futures contracts, except for those entered into by the Gold, Silver, Australian Dollar and Short Euro Funds, are generally valued at the last settled price on the applicable exchange on which that future trades. Futures contracts entered into by the Gold, Silver, Australian Dollar and Short Euro Funds are generally valued at the last sales price prior to the time at which the NAV per Share of a Fund is determined. For financial reporting purposes, all futures contracts are generally valued at the last settled price. Futures contracts valuations are typically categorized as Level I in the fair value hierarchy. Swap agreements, forward agreements and foreign currency forward contracts valuations are typically categorized as Level II in the fair value hierarchy. The Sponsor may in its sole discretion choose to determine a fair value price as the basis for determining the market value of such position. Such fair value prices would generally be determined based on available inputs about the current value of the underlying financial instrument or commodity and would be based on principles that the Sponsor deems fair and equitable so long as such principles are consistent with industry standards. The Sponsor may fair value an asset of a Fund pursuant to the policies the Sponsor has adopted. Depending on the source and relevant significance of valuation inputs, these instruments may be classified as Level II or Level III in the fair value hierarchy. Fair value pricing may require subjective determinations about the value of an investment. While the Funds’ policies are intended to result in a calculation of its respective Fund’s NAV that fairly reflects investment values as of the time of pricing, such Fund cannot ensure that fair values determined by the Sponsor or persons acting at their direction would accurately reflect the price that a Fund could obtain for an investment if it were to dispose of that investment as of the time of pricing (for instance, in a forced or distressed sale). The prices used by such Fund may differ from the value that would be realized if the investments were sold and the differences could be material to the financial statements. Fair Value of Financial Instruments The Funds disclose the fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The disclosure requirements establish a fair value hierarchy that distinguishes between: (1) market participant assumptions developed based on market data obtained from sources independent of the Funds (observable inputs); and (2) the Funds’ own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs). The three levels defined by the disclosure requirements hierarchy are as follows: Level I – Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level II – Inputs other than quoted prices included within Level I that are observable for the asset or liability, either directly or indirectly. Level II assets include the following: quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market-corroborated inputs). Level III – Unobservable pricing input at the measurement date for the asset or liability. Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not available. In some instances, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. The level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest input level that is significant to the fair value measurement in its entirety. Fair value measurements also require additional disclosure when the volume and level of activity for the asset or liability have significantly decreased, as well as when circumstances indicate that a transaction is not orderly. The following table summarizes the valuation of investments at June 30, 2020 using the fair value hierarchy:
The inputs or methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those securities. The following table summarizes the valuation of investments at December 31, 2019 using the fair value hierarchy:
The inputs or methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those securities. Investment Transactions and Related Income Investment transactions are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Unrealized appreciation (depreciation) on open contracts are reflected in the Statements of Financial Condition and changes in the unrealized appreciation (depreciation) between periods are reflected in the Statements of Operations. Interest income is recognized on an accrual basis and includes, where applicable, the amortization of premium or discount, and is reflected as Interest Income in the Statement of Operations. Brokerage Commissions and Fees Each Fund pays its respective brokerage commissions, including applicable exchange fees, National Futures Association (“NFA”) fees, give-up fees, pit brokerage fees and other transaction related fees and expenses charged in connection with trading activities for each Fund’s investment in U.S. Commodity Futures Trading Commission (“CFTC”) regulated investments. The effects of trading spreads, financing costs/fees associated with Financial Instruments, and costs relating to the purchase of U.S. Treasury securities or similar high credit quality short-term fixed-income would also be borne by the Funds. Brokerage commissions on futures contracts are recognized on a half-turn basis (e.g., the first half is recognized when the contract is purchased (opened) and the second half is recognized when the transaction is closed). The Sponsor is currently paying brokerage commissions on VIX futures contracts for the Matching VIX Funds that exceed variable create/redeem fees collected by more than 0.02% of the Matching VIX Fund’s average net assets annually.Federal Income Tax Each Fund is registered as a series of a Delaware statutory trust and is treated as a partnership for U.S. federal income tax purposes. Accordingly, no Fund expects to incur U.S. federal income tax liability; rather, each beneficial owner of a Fund’s Shares is required to take into account its allocable share of its Fund’s income, gain, loss, deductions and other items for its Fund’s taxable year ending with or within the beneficial owner’s taxable year. Management of the Funds has reviewed all open tax years and major jurisdictions (i.e., the last four tax year ends and the interim tax period since then, as applicable) and concluded that there is no tax liability resulting from unrecognized tax benefits relating to uncertain income tax positions taken or expected to be taken in future tax returns. The Funds are also not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. On an ongoing basis, management monitors its tax positions taken under the interpretation to determine if adjustments to conclusions are necessary based on factors including, but not limited to,
on-going analysis of tax law, regulation, and interpretations thereof. |
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| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments | NOTE 3 – INVESTMENTS Short-Term Investments The Funds may purchase U.S. Treasury Bills, agency securities, and other high-credit quality short-term fixed income or similar securities with original maturities of one year or less. A portion of these investments may be posted as collateral in connection with swap agreements, futures, and/or forward contracts. Accounting for Derivative Instruments In seeking to achieve each Fund’s investment objective, the Sponsor uses a mathematical approach to investing. Using this approach, the Sponsor determines the type, quantity and mix of investment positions, including derivative positions, which the Sponsor believes in combination, should produce returns consistent with a Fund’s objective. All open derivative positions at period end are reflected on each respective Fund’s Schedule of Investments. Certain Funds utilized a varying level of derivative instruments in conjunction with investment securities in seeking to meet their investment objectives during the period. While the volume of open positions may vary on a daily basis as each Fund transacts derivatives contracts in order to achieve the appropriate exposure to meet its investment objective, the volume of these open positions relative to the net assets of each respective Fund at the date of this report is generally representative of open positions throughout the reporting period. Following is a description of the derivative instruments used by the Funds during the reporting period, including the primary underlying risk exposures related to each instrument type. Futures Contracts The Funds may enter into futures contracts to gain exposure to changes in the value of, or as a substitute for investing directly in (or shorting), an underlying Index, currency or commodity. A futures contract obligates the seller to deliver (and the purchaser to accept) the future delivery of a specified quantity and type of asset at a specified time and place. The contractual obligations of a buyer or seller may generally be satisfied by taking or making physical delivery of the underlying commodity, if applicable, or by making an offsetting sale or purchase of an identical futures contract on the same or linked exchange before the designated date of delivery, or by cash settlement at expiration of contract. Upon entering into a futures contract, each Fund is required to deposit and maintain as collateral at least such initial margin as required by the exchange on which the transaction is affected. The initial margin is segregated as cash and/or securities balances with brokers for futures contracts, as disclosed in the Statements of Financial Condition, and is restricted as to its use. The Funds that enter into futures contracts maintain collateral at the broker in the form of cash and/or securities. Pursuant to the futures contract, each Fund generally agrees to receive from or pay to the broker(s) an amount of cash equal to the daily fluctuation in value of the futures contract. Such receipts or payments are known as variation margin and are recorded by each Fund as unrealized gains or losses. Each Fund will realize a gain or loss upon closing of a futures transaction. Futures contracts involve, to varying degrees, elements of market risk (specifically commodity price risk or equity market volatility risk) and exposure to loss in excess of the amount of variation margin. The face or contract amounts reflect the extent of the total exposure each Fund has in the particular classes of instruments. Additional risks associated with the use of futures contracts are imperfect correlation between movements in the price of the futures contracts and the market value of the underlying Index or commodity and the possibility of an illiquid market for a futures contract. With futures contracts, there is minimal but some counterparty risk to the Funds since futures contracts are exchange-traded and the credit risk resides with the Funds’ clearing broker or clearinghouse itself. Many futures exchanges and boards of trade limit the amount of fluctuation permitted in futures contract prices during a single trading day. Once the daily limit has been reached in a particular contract, no trades may be made that day at a price beyond that limit or trading may be suspended for specified times during the trading day. Futures contracts prices could move to the limit for several consecutive trading days with little or no trading, thereby preventing prompt liquidation of futures positions and potentially subjecting a Fund to substantial losses. If trading is not possible, or if a Fund determines not to close a futures position in anticipation of adverse price movements, the Fund will be required to make daily cash payments of variation margin. The risk the Fund will be unable to close out a futures position will be minimized by entering into such transactions on a national exchange with an active and liquid secondary market. Option Contracts An option is a contract that gives the buyer the right, but not the obligation, to buy or sell a specified quantity of a commodity or other instrument at a specific (or strike) price within a specified period of time, regardless of the market price of that instrument. There are two types of options: calls and puts. A call option conveys to the option buyer the right to purchase a particular futures contract at a stated price at any time during the life of the option. A put option conveys to the option buyer the right to sell a particular futures contract at a stated price at any time during the life of the option. Options written by a Fund may be wholly or partially covered (meaning that the Fund holds an offsetting position) or uncovered. In the case of the purchase of an option, the risk of loss of an investor’s entire investment (i.e., the premium paid plus transaction charges) reflects the nature of an option as a wasting asset that may become worthless when the option expires. Where an option is written or granted (i.e., sold) uncovered, the seller may be liable to pay substantial additional margin, and the risk of loss is unlimited, as the seller will be obligated to deliver, or take delivery of, an asset at a predetermined price which may, upon exercise of the option, be significantly different from the market value. When a Fund writes a call or put, an amount equal to the premium received is recorded and subsequently marked to market to reflect the current value of the option written. Premiums received from writing options which expire are treated as realized gains. Premiums received from writing options which are exercised or closed are added to the proceeds or offset against amounts paid on the underlying futures, swap, security or currency transaction to determine the realized gain (loss). When a Fund purchases an option, the Fund pays a premium which is included as an asset on the Statement of Financial Condition and subsequently marked to market to reflect the current value of the option. Premiums paid for purchasing options which expire are treated as realized losses. The risk associated with purchasing put and call options is limited to the premium paid. Premiums paid for purchasing options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying investment transaction to determine the realized gain (loss) when the underlying transaction is executed. Certain options transactions may subject the writer (seller) to unlimited risk of loss in the event of an increase in the price of the contract to be purchased or delivered. The value of a Fund’s options transactions, if any, will be affected by, among other things, changes in the value of a Fund’s underlying benchmark relative to the strike price, changes in interest rates, changes in the actual and implied volatility of the Fund’s underlying benchmark, and the remaining time to until the options expire, or any combination thereof. The value of the options should not be expected to increase or decrease at the same rate as the level of the Fund’s underlying benchmark, which may contribute to tracking error. Options may be less liquid than certain other securities. A Fund’s ability to trade options will be dependent on the willingness of counterparties to trade such options with the Fund. In a less liquid market for options, a Fund may have difficulty closing out certain option positions at desired times and prices. A Fund may experience substantial downside from specific option positions and certain option positions may expire worthless. Over-the-counter over-the-counter Each Oil Fund may, but is not required to, seek to use swap agreements or options strategies that limit losses (i.e., have “floors”) or are otherwise designed to prevent the Fund’s net asset value from going to zero. These investment strategies will not prevent an Oil Fund from losing value, and their use may not prevent a Fund’s NAV from going to zero. Rather, they are intended to allow an Oil Fund to preserve a small portion of its value in the event of significant movements in its benchmark or Financial Instruments based on its benchmark. There can be no guarantee that an Oil Fund will be able to implement such strategies, continue to use such strategies, or that such strategies will be successful. Each Oil Fund will incur additional costs as a result of using such strategies. Use of strategies designed to limit losses may also place “caps” or “ceilings” on performance and could significantly limit Fund gains, could cause a Fund to perform in a manner not consistent with its investment objective and could otherwise have a significant impact on Fund performance. Swap Agreements Certain of the Funds enter into swap agreements for purposes of pursuing their investment objectives or as a substitute for investing directly in (or shorting) an underlying Index, currency or commodity, or to create an economic hedge against a position. Swap agreements are two-party contracts that have traditionally been entered into primarily with institutional investors in over-the-counter Generally, swap agreements entered into by the Funds calculate and settle the obligations of the parties to the agreement on a “net basis” with a single payment. Consequently, each Fund’s current obligations (or rights) under a swap agreement will generally be equal only to the net amount to be paid or received under the agreement based on the relative values of such obligations (or rights) (the “net amount”). In a typical swap agreement entered into by a Matching VIX Fund, an Ultra Fund, or an UltraPro Fund, the Matching VIX Fund, Ultra Fund, or UltraPro Fund would be entitled to settlement payments in the event the level of the benchmark increases and would be required to make payments to the swap counterparties in the event the level of the benchmark decreases, adjusted for any transaction costs or trading spreads on the notional amount the Funds may pay. In a typical swap agreement entered into by a Short Fund, an UltraShort Fund, or an UltraPro Short Fund, the Short Fund, UltraShort Fund, or UltraPro Short Fund would be required to make payments to the swap counterparties in the event the level of the benchmark increases and would be entitled to settlement payments in the event the level of the benchmark decreases, adjusted for any transaction costs or trading spreads on the notional amount the Funds may pay. The net amount of the excess, if any, of each Fund’s obligations over its entitlements with respect to each OTC swap agreement is accrued on a daily basis and an amount of cash and/or securities having an aggregate value at least equal to such accrued excess is maintained for the benefit of the counterparty in a segregated account by the Funds’ Custodian. The net amount of the excess, if any, of each Fund’s entitlements over its obligations with respect to each OTC swap agreement is accrued on a daily basis and an amount of cash and/or securities having an aggregate value at least equal to such accrued excess is maintained for the benefit of the Fund in a segregated account by a third party custodian. Until a swap agreement is settled in cash, the gain or loss on the notional amount less any transaction costs or trading spreads payable by each Fund on the notional amount are recorded as “unrealized appreciation or depreciation on swap agreements” and, when cash is exchanged, the gain or loss realized is recorded as “realized gains or losses on swap agreements.” Swap agreements are generally valued at the last settled price of the benchmark referenced asset. Swap agreements contain various conditions, events of default, termination events, covenants and representations. The triggering of certain events or the default on certain terms of the agreement could allow a party to terminate a transaction under the agreement and request immediate payment in an amount equal to the net positions owed to the party under the agreement. This could cause a Fund to have to enter into a new transaction with the same counterparty, enter into a transaction with a different counterparty or seek to achieve its investment objective through any number of different investments or investment techniques. Swap agreements involve, to varying degrees, elements of market risk and exposure to loss in excess of the unrealized gain/loss reflected. The notional amounts reflect the extent of the total investment exposure each Fund has under the swap agreement, which may exceed the NAV of each Fund. Additional risks associated with the use of swap agreements are imperfect correlations between movements in the notional amount and the price of the underlying reference Index and the inability of counterparties to perform. Each Fund bears the risk of loss of the amount expected to be received under a swap agreement in the event of the default or bankruptcy of a swap agreement counterparty. A Fund will typically enter into swap agreements only with major global financial institutions. The creditworthiness of each of the firms that is a party to a swap agreement is monitored by the Sponsor. The Sponsor may use various techniques to minimize credit risk including early termination and payment, using different counterparties, limiting the net amount due from any individual counterparty and generally requiring collateral to be posted by the counterparty in an amount approximately equal to that owed to the Funds. All of the outstanding swap agreements at June 30, 2020 The Funds, as applicable, collateralize swap agreements by segregating or designating cash and/or certain securities as indicated on the Statements of Financial Condition or Schedules of Investments. As noted above, collateral posted in connection with OTC derivative transactions is held for the benefit of the counterparty in a segregated tri-party account at the Custodian to protect the counterparty against non-payment by the Funds. The collateral held in this account is restricted as to its use. In the event of a default by the counterparty, the Funds will seek withdrawal of this collateral from the segregated account and may incur certain costs in exercising its right with respect to the collateral. If a counterparty becomes bankrupt or otherwise fails to perform its obligations due to financial difficulties, the Funds may experience significant delays in obtaining any recovery in a bankruptcy or other reorganizational proceeding. The Funds may obtain only limited recovery or may obtain no recovery in such circumstances.The Funds remain subject to credit risk with respect to the amount they expect to receive from counterparties. However, the Funds have sought to mitigate these risks in connection with OTC swaps by generally requiring that the counterparties for each Fund agree to post collateral for the benefit of the Fund, marked to market daily, in an amount approximately equal to what the counterparty owes the Fund, subject to certain minimum thresholds. In the event of a bankruptcy of a counterparty, such Fund will have direct access to the collateral received from the counterparty, generally as of the day prior to the bankruptcy, because there is a one day time lag between the Fund’s request for collateral and the delivery of such collateral. To the extent any such collateral is insufficient, the Funds will be exposed to counterparty risk as described above, including the possible delays in recovering amounts as a result of bankruptcy proceedings. As of June 30, 2020, the collateral posted by counterparties consisted of cash and/or U.S. Treasury securities. The counterparty/credit risk for cleared derivative transactions is generally lower than for OTC derivatives since generally a clearing organization becomes substituted for each counterparty to a cleared derivative contract and, in effect, guarantees the parties’ performance under the contract as each party to a trade looks only to the clearing organization for performance of financial obligations. In addition, cleared derivative transactions benefit from daily marking-to-market Forward Contracts Certain of the Funds enter into forward contracts for the purpose of pursuing their investment objectives and as a substitute for investing directly in (or shorting) commodities and/or currencies. A forward contract is an agreement between two parties to purchase or sell a specified quantity of an asset at or before a specified date in the future at a specified price. Forward contracts are typically traded in OTC markets and all details of the contracts are negotiated between the counterparties to the agreement. Accordingly, the forward contracts are valued by reference to the contracts traded in the OTC markets. The contractual obligations of a buyer or seller may generally be satisfied by taking or making physical delivery of the underlying commodity or currency, establishing an opposite position in the contract and recognizing the profit or loss on both positions simultaneously on the delivery date or, in some instances, paying a cash settlement before the designated date of delivery. The forward contracts are adjusted by the daily fluctuation of the underlying commodity or currency and any gains or losses are recorded for financial statement purposes as unrealized gains or losses until the contract settlement date. Forward contracts have traditionally not been cleared or guaranteed by a third party. As a result of the Dodd-Frank Act, the CFTC now regulates non-deliverable forwards (including deliverable forwards where the parties do not take delivery). Certain non-deliverable forward contracts, such as non-deliverable foreign exchange forwards, may be subject to regulation as swap agreements, including mandatory clearing. Changes in the forward markets may entail increased costs and result in increased reporting requirements.The Funds may collateralize OTC forward commodity contracts by segregating or designating cash and/or certain securities as indicated on their Statements of Financial Condition or Schedules of Investments. Such collateral is held for the benefit of the counterparty in a segregated tri-party account at a third party custodian to protect the counterparty against non-payment by the Funds. The collateral held in this account is restricted as to its use. In the event of a default by the counterparty, the Funds will seek withdrawal of this collateral from the segregated account and may incur certain costs in exercising its right with respect to the collateral. If a counterparty becomes bankrupt or otherwise fails to perform its obligations due to financial difficulties, the Funds may experience significant delays in obtaining any recovery in a bankruptcy or other reorganizational proceeding. The Funds may obtain only limited recovery or may obtain no recovery in such circumstances.The Funds remain subject to credit risk with respect to the amount they expect to receive from counterparties. However, the Funds have sought to mitigate these risks by generally requiring that the counterparties for each Fund agree to post collateral for the benefit of the Fund, marked to market daily, in an amount approximately equal to what the counterparty owes the Fund, subject to minimum thresholds. In the event of the bankruptcy of a counterparty, the Fund will have direct access to the collateral received from the counterparty, generally as of the day prior to the bankruptcy, because there is a one day time lag between the Fund’s request for collateral and the delivery of such collateral. To the extent any such collateral is insufficient, the Fund will be exposed to counterparty risk as described above, including the possible delays in recovering amounts as a result of bankruptcy proceedings. As of June 30, 2020, the collateral posted by counterparties consisted of cash and/or U.S. Treasury securities. Participants in trading foreign exchange forward contracts often do not require margin deposits, but rely upon internal credit limitations and their judgments regarding the creditworthiness of their counterparties. In recent years, however, many OTC market participants in foreign exchange trading have begun to require their counterparties to post margin. A Fund will typically enter into forward contracts only with major global financial institutions. The creditworthiness of each of the firms that is a party to a forward contract is monitored by the Sponsor. The counterparty/credit risk for cleared derivative transactions is generally lower than for OTC derivatives since generally a clearing organization becomes substituted for each counterparty to a cleared derivative contract and, in effect, guarantees the parties’ performance under the contract as each party to a trade looks only to the clearing organization for performance of financial obligations. In addition, cleared derivative transactions benefit from daily marking-to-market The following tables indicate the location of derivative related items on the Statement of Financial Condition as well as the effect of derivative instruments on the Statement of Operations during the reporting period. Fair Value of Derivative Instruments as of June 30, 2020
Fair Value of Derivative Instruments as of December 31, 2019
The Effect of Derivative Instruments on the Statement of Operations For the three months ended June 30, 2020
The Effect of Derivative Instruments on the Statement of Operations For the six months ended June 30, 2020
* The operations include the activity of ProShares UltraPro 3x Crude Oil ETF through April 3, 2020, and ProShares UltraPro 3x Short Crude Oil ETF through April 13, 2020, the date of liquidation, respectively . The Effect of Derivative Instruments on the Statement of Operations For the three months ended June 30, 2019
The Effect of Derivative Instruments on the Statement of Operations For the six months ended June 30, 2019
Offsetting Assets and Liabilities Each Fund is subject to master netting agreements or similar arrangements that allow for amounts owed between each Fund and the counterparty to be netted upon an early termination. The party that has the larger payable pays the excess of the larger amount over the smaller amount to the other party. The master netting agreements or similar arrangements do not apply to amounts owed to/from different counterparties. As described above, the Funds utilize derivative instruments to achieve their investment objective during the year. The amounts shown in the Statements of Financial Condition do not take into consideration the effects of legally enforceable master netting agreements or similar arrangements. For financial reporting purposes, the Funds do not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statements of Financial Condition. The following table presents each Fund’s derivatives by investment type and by counterparty net of amounts available for offset under a master netting agreement and the related collateral received or pledged by the Funds as of June 30, 2020.
Asset (Liability) amounts shown in the table below represent amounts owed to (by) the Funds for the derivative-related investments at June 30, 2020. These amounts may be collateralized by cash or financial instruments, segregated for the benefit of the Funds or the counterparties, depending on whether the related contracts are in an appreciated or depreciated position at period end. Amounts shown in the column labeled “Net Amount” represent the uncollateralized portions of these amounts at period end. These amounts may be
un-collateralized due to timing differences related to market movements or due to minimum thresholds for collateral movement, as further described above under the caption “Accounting for Derivative Instruments”.
The following table presents each Fund’s derivatives by investment type and by counterparty net of amounts available for offset under a master netting agreement and the related collateral received or pledged by the Funds as of December 31, 2019:
Asset (Liability) amounts shown in the table below represent amounts owed to (by) the Funds for the derivative-related investments at December 31, 2019. These amounts may be collateralized by cash or financial instruments, segregated for the benefit of the Funds or the counterparties, depending on whether the related contracts are in an appreciated or depreciated position at period end. Amounts shown in the column labeled “Net Amount” represent the uncollateralized portions of these amounts at period end. These amounts may be
un-collateralized due to timing differences related to market movements or due to minimum thresholds for collateral movement, as further described above under the caption “Accounting for Derivative Instruments”.
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Agreements |
6 Months Ended |
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Jun. 30, 2020 | |
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| Agreements | NOTE 4 – AGREEMENTS Management Fee Each Leveraged Fund, the Short Euro Fund and each Geared VIX Fund pays the Sponsor a Management Fee, monthly in arrears, in an amount equal to 0.95% per annum of its average daily NAV of such Fund. Each Matching VIX Fund pays the Sponsor a Management Fee, monthly in arrears, in an amount equal to 0.85% per annum of its average daily NAV of such Fund. The Management Fee is paid in consideration of the Sponsor’s trading advisory services and the other services provided to the Fund that the Sponsor pays directly. From the Management Fee, the Sponsor pays all of the routine operational, administrative and other ordinary expenses of each Fund, generally as determined by the Sponsor, including but not limited to, (i) the Administrator, Custodian, Distributor, ProFunds Distributors, Inc. (“PDI”), an affiliated broker-dealer of the Sponsor, Transfer Agent, accounting and auditing fees and expenses, (ii) any Index licensors for the Funds; and (iii) the normal and expected expenses incurred in connection with the continuous offering of Shares of each Fund after the commencement of its trading operations. Fees associated with a Fund’s trading operations may include expenses such as tax preparation expenses, legal fees not in excess of $100,000 per annum, ongoing SEC registration fees not exceeding 0.021% per annum of the NAV of a Fund and Financial Industry Regulatory Authority (“FINRA”) filing fees, individual Schedule K-1 preparation and mailing fees not exceeding 0.10% per annum of the net assets of a Fund, and report preparation and mailing expenses.Non-Recurring Fees and Expenses Each Fund pays all its non-recurring and unusual fees and expenses, if any, as determined by the Sponsor. Non-recurring and unusual fees and expenses are fees and expenses that are unexpected or unusual in nature, such as legal claims and liabilities, litigation costs or indemnification or other material expenses which are not currently anticipated obligations of the Funds.The Administrator BNY Mellon Asset Servicing, a division of The Bank of New York Mellon (“BNY Mellon”) serves as the Administrator of the Funds. The Trust, on its own behalf and on behalf of each Fund, and BNY Mellon have entered into an administration and accounting agreement (the “Administration and Accounting Agreement”) in connection therewith. Pursuant to the terms of the Administration and Accounting Agreement and under the supervision and direction of the Sponsor and the Trust, BNY Mellon prepares and files certain regulatory filings on behalf of the Funds. BNY Mellon may also perform other services for the Funds pursuant to the Administration and Accounting Agreement as mutually agreed upon by the Sponsor, the Trust and BNY Mellon from time to time. The Administrator’s fees are paid on behalf of the Funds by the Sponsor. The Custodian BNY Mellon serves as the Custodian of the Funds, and the Trust, on its own behalf and on behalf of each Fund, and BNY Mellon have entered into a custody agreement (the “Custody Agreement”) in connection therewith. Pursuant to the terms of the Custody Agreement, BNY Mellon is responsible for the holding and safekeeping of assets delivered to it by the Funds, and performing various administrative duties in accordance with instructions delivered to BNY Mellon by the Funds. The Custodian’s fees are paid on behalf of the Funds by the Sponsor. The Transfer Agent BNY Mellon serves as the Transfer Agent of the Funds for Authorized Participants and has entered into a transfer agency and service agreement (the “Transfer Agency and Service Agreement”). Pursuant to the terms of the Transfer Agency and Service Agreement, BNY Mellon is responsible for processing purchase and redemption orders and maintaining records of ownership of the Funds. The Transfer Agent Fees are paid on behalf of the Funds by the Sponsor. The Distributor SEI Investments Distribution Co. (“SEI”), serves as Distributor of the Funds and assists the Sponsor and the Administrator with certain functions and duties relating to distribution and marketing, including taking creation and redemption orders, consulting with the marketing staff of the Sponsor and its affiliates with respect to compliance with the requirements of FINRA and/or the NFA in connection with marketing efforts, and reviewing and filing of marketing materials with FINRA and/or the NFA. SEI retains all marketing materials separately for each Fund, at c/o SEI, One Freedom Valley Drive, Oaks, PA 19456. The Sponsor, on behalf of each Fund, has entered into a Distribution Services Agreement with SEI. The Sponsor pays SEI for performing its duties on behalf of the Funds. |
Offering Costs |
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| Offering Costs | NOTE 5 – OFFERING COSTS Offering costs will be amortized by the Funds over a twelve month period on a straight-line basis beginning once the fund commences operations. The Sponsor will not charge its Management Fee in the first year of operations of a Fund in an amount equal to the offering costs. Normal and expected expenses incurred in connection with the continuous offering of Shares of a Fund after the commencement of its trading operations will be paid by the Sponsor. |
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| Creation and Redemption of Creation Units | NOTE 6 – CREATION AND REDEMPTION OF CREATION UNITS Each Fund issues and redeems shares from time to time, but only in one or more Creation Units. A Creation Unit is a block of 50,000 Shares of a Geared Fund and 25,000 Shares of a Matching VIX Fund. Creation Units may be created or redeemed only by Authorized Participants. As a result of the Share splits and reverse Share splits as described in Note 1, certain redemptions as disclosed in the Statements of Changes in Shareholders’ Equity reflect payment of fractional share balances on beneficial shareholder accounts. Except when aggregated in Creation Units, the Shares are not redeemable securities. Retail investors, therefore, generally will not be able to purchase or redeem Shares directly from or with a Fund. Rather, most retail investors will purchase or sell Shares in the secondary market with the assistance of a broker. Thus, some of the information contained in these Notes to Financial Statements—such as references to the Transaction Fees imposed on purchases and redemptions is not relevant to retail investors. Transaction Fees on Creation and Redemption Transactions The manner by which Creation Units are purchased or redeemed is governed by the terms of the Authorized Participant Agreement and Authorized Participant Procedures Handbook. By placing a purchase order, an Authorized Participant agrees to: (1) deposit cash with the Custodian; and (2) if permitted by the Sponsor in its sole discretion, enter into or arrange for an exchange of futures contract for related position or block trade with the relevant fund whereby the Authorized Participant would also transfer to such Fund a number and type of exchange-traded futures contracts at or near the closing settlement price for such contracts on the purchase order date. Authorized Participants may pay a fixed transaction fee (typically $250) in connection with each order to create or redeem a Creation Unit in order to compensate BNY Mellon, as the Administrator, the Custodian and the Transfer Agent of each Fund and its Shares, for services in processing the creation and redemption of Creation Units and to offset the costs of increasing or decreasing derivative positions. Authorized Participants also may pay a variable transaction fee to the Fund of up to 0.10% (and a variable transaction fee to the Matching VIX Funds of 0.05%) of the value of the Creation Unit that is purchased or redeemed unless the transaction fee is waived or otherwise adjusted by the Sponsor. The Sponsor provides such Authorized Participant with prompt notice in advance of any such waiver or adjustment of the transaction fee. Authorized Participants may sell the Shares included in the Creation Units they purchase from the Funds to other investors in the secondary market. Transaction fees for the three and six months ended June 30, 2020 which are included in the Addition and/or Redemption of Shares on the Statements of Changes in Shareholders’ Equity, were as follows:
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Financial Highlights |
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| Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial Highlights | NOTE 7 – FINANCIAL HIGHLIGHTS Selected data for a Share outstanding throughout the three months ended June 30, 2020 For the Three Months Ended June 30, 2020 (unaudited)
For the Three Months Ended June 30, 2020 (unaudited)
For the Three Months Ended June 30, 2020 (unaudited)
Selected data for a Share outstanding throughout the three months ended June 30, 2019 For the Three Months Ended June 30, 2019 (unaudited)
For the Three Months Ended June 30, 2019 (unaudited)
For the Three Months Ended June 30, 2019 (unaudited)
For the Three Months Ended June 30, 2019 (unaudited)
Selected data for a Share outstanding throughout the six months ended June 30, 2020 For the Six Months Ended June 30, 2020 (unaudited)
For the Six Months Ended June 30, 2020 (unaudited)
For the Six Months Ended June 30, 2020 (unaudited)
Selected data for a Share outstanding throughout the six months ended June 30, 2019 For the Six Months Ended June 30, 2019 (unaudited)
For the Six Months Ended June 30, 2019 (unaudited)
For the Six Months Ended June 30, 2019 (unaudited)
For the Six Months Ended June 30, 2019 (unaudited)
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| Risks and Uncertainties [Abstract] | |||||||||
| Risk | NOTE 8 – RISK Correlation and Compounding Risk The Geared Funds do not seek to achieve their stated investment objective over a period of time greater than a single day (as measured from NAV calculation time to NAV calculation time). The return of a Geared Fund for a period longer than a single 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 one-half the inverse (-0.5x), the inverse (-1x), two times the inverse (-2x), three times the inverse (-3x), one and one-half times (1.5x) the return, two times (2x) of the return or three times of the return (3x) of the Geared Fund’s benchmark for the period. A Geared Fund will lose money if its benchmark performance is flat over time, and it is possible for a Geared Fund to lose money over time even if the performance of its benchmark increases (or decreases in the case of Short, UltraShort and UltraPro Short Funds), as a result of daily rebalancing, the benchmark’s volatility, compounding, and other factors. Compounding is the cumulative effect of applying investment gains and losses and income to the principal amount invested over time. Gains or losses experienced over a given period will increase or reduce the principal amount invested from which the subsequent period’s returns are calculated. The effects of compounding will likely cause the performance of a Geared Fund to differ from the Geared Fund’s stated multiple times the return of its benchmark for the same period. The effect of compounding becomes more pronounced as benchmark volatility and holding period increase. The impact of compounding will impact each shareholder differently depending on the period of time an investment in a Geared Fund is held and the volatility of the benchmark during the holding period of an investment in the Geared Fund. Longer holding periods, higher benchmark volatility, inverse exposure and greater leverage each affect the impact of compounding on a Geared Fund’s returns. Daily compounding of a Geared Fund’s investment returns can dramatically and adversely affect its longer-term performance during periods of high volatility. Volatility may be at least as important to a Geared Fund’s return for a period as the return of the Geared Fund’s underlying benchmark. The Matching VIX Funds seek to achieve their stated investment objective over time.Each Ultra, UltraShort, UltraPro and UltraPro Short Fund uses leverage and should produce daily returns that are more volatile than that of its benchmark. For example, the daily return of an Ultra or UltraPro Fund with a 1.5x or 2x or 3x multiple should be approximately one and one-half or two or three times as volatile on a daily basis as is the return of a fund with an objective of matching the same benchmark. The daily return of an UltraShort or UltraPro Short Fund is designed to return two times the inverse (-2x) or three times the inverse (-3x) of the return that would be expected of a fund with an objective of matching the same benchmark. The Geared Funds are not appropriate for all investors and present significant risks not applicable to other types of funds. The Leveraged Funds use leverage and 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 leveraged, daily inverse or daily inverse leveraged investment results. Shareholders who invest in the Funds should actively manage and monitor their investments, as frequently as daily.While the Funds seek to meet their investment objectives, there is no guarantee they will do so. Factors that may affect a Fund’s ability to meet its investment objective include: (1) the Sponsor’s ability to purchase and sell Financial Instruments in a manner that correlates to a Fund’s objective; (2) an imperfect correlation between the performance of Financial Instruments held by a Fund and the performance of the applicable benchmark; (3) bid-ask spreads on such Financial Instruments; (4) fees, expenses, transaction costs, financing costs associated with the use of Financial Instruments and commission costs; (5) holding or trading instruments in a market that has become illiquid or disrupted; (6) a Fund’s Share prices being rounded to the nearest cent and/or valuation methodology; (7) changes to a benchmark Index that are not disseminated in advance; (8) the need to conform a Fund’s portfolio holdings to comply with investment restrictions or policies or regulatory or tax law requirements; (9) early and unanticipated closings of the markets on which the holdings of a Fund trade, resulting in the inability of the Fund to execute intended portfolio transactions; (10) accounting standards; and (11) differences caused by a Fund obtaining exposure to only a representative sample of the components of a benchmark, over weighting or under weighting certain components of a benchmark or obtaining exposure to assets that are not included in a benchmark.A number of factors may affect a Geared Fund’s ability to achieve a high degree of correlation with its benchmark, and there can be no guarantee that a Fund will achieve a high degree of correlation. Failure to achieve a high degree of correlation may prevent a Geared Fund from achieving its investment objective. In order to achieve a high degree of correlation with their underlying benchmarks, the Geared Funds seek to rebalance their portfolios daily to keep exposure consistent with their investment objectives. Being materially under- or over-exposed to the benchmark may prevent such Geared Funds from achieving a high degree of correlation with such benchmark. Market disruptions or closure, large amounts of assets into or out of the Geared Funds, regulatory restrictions, extreme market volatility, and other factors will adversely affect such Funds’ ability to adjust exposure to requisite levels. The target amount of portfolio exposure is impacted dynamically by the benchmarks’ movements during each day. Other things being equal, more significant movement in the value of its benchmark up or down will require more significant adjustments to a Fund’s portfolio. Because of this, it is unlikely that the Geared Funds will be perfectly exposed (i.e., -0.5x, -1x, -2x, -3x, 1.5x, 2x, or 3x as applicable) to its benchmark at the end of each day, and the likelihood of being materially under- or over-exposed is higher on days when the benchmark levels are volatile near the close of the trading day.Each Geared Fund seeks to rebalance its portfolio on a daily basis. The time and manner in which a Geared Fund rebalances its portfolio may vary from day to day depending upon market conditions and other circumstances at the discretion of the Sponsor. Unlike other funds that do not rebalance their portfolios as frequently, each Geared Fund may be subject to increased trading costs associated with daily portfolio rebalancing in order to maintain appropriate exposure to the underlying benchmarks. Counterparty Risk Each Fund may use derivatives such as swap agreements and forward contracts (collectively referred to herein as “derivatives”) in the manner described herein as a means to achieve their respective investment objectives. The use of derivatives by a Fund exposes the Fund to counterparty risks. Regulatory Treatment Derivatives are generally traded in OTC markets and have only recently become subject to comprehensive regulation in the United States. Cash-settled forwards are generally regulated as “swaps”, whereas physically settled forwards are generally not subject to regulation (in the case of commodities other than currencies) or subject to the federal securities laws (in the case of securities). Title VII of the Dodd-Frank Act (“Title VII”) created a regulatory regime for derivatives, with the CFTC responsible for the regulation of swaps and the SEC responsible for the regulation of “security-based swaps.” The SEC requirements have largely yet to be made effective, but the CFTC requirements are largely in place. The CFTC requirements have included rules for some of the types of transactions in which the Funds will engage, including mandatory clearing and exchange trading, reporting, and margin for OTC swaps. Title VII also created new categories of regulated market participants, such as “swap dealers,” “security-based swap dealers,” “major swap participants,” and “major security-based swap participants” who are, or will be, subject to significant new capital, registration, recordkeeping, reporting, disclosure, business conduct and other regulatory requirements. The regulatory requirements under Title VII continue to be developed and there may be further modifications that could materially and adversely impact the Funds, the markets in which a Fund trades and the counterparties with which the Fund engages in transactions. As noted, the CFTC rules may not apply to all of the swap agreements and forward contracts entered into by the Funds. Investors, therefore, may not receive the protection of CFTC regulation or the statutory scheme of “the Commodity Exchange Act (the “CEA”) in connection with each Fund’s swap agreements or forward contracts. The lack of regulation in these markets could expose investors to significant losses under certain circumstances, including in the event of trading abuses or financial failure by participants. Counterparty Credit Risk The Funds will be subject to the credit risk of the counterparties to the derivatives. In the case of cleared derivatives, the Funds will have credit risk to the clearing corporation in a similar manner as the Funds would for futures contracts. In the case of OTC derivatives, the Funds will be subject to the credit risk of the counterparty to the transaction – typically a single bank or financial institution. As a result, a Fund is subject to increased credit risk with respect to the amount it expects to receive from counterparties to OTC derivatives entered into as part of that Fund’s principal investment strategy. If a counterparty becomes bankrupt or otherwise fails to perform its obligations due to financial difficulties, a Fund could suffer significant losses on these contracts and the value of an investor’s investment in a Fund may decline. The Funds have sought to mitigate these risks by generally requiring that the counterparties for each Fund agree to post collateral for the benefit of the Fund, marked to market daily, subject to certain minimum thresholds. However, there are no limitations on the percentage of assets each Fund may invest in swap agreements or forward contracts with a particular counterparty. To the extent any such collateral is insufficient or there are delays in accessing the collateral, the Funds will be exposed to counterparty risk as described above, including possible delays in recovering amounts as a result of bankruptcy proceedings. The Funds typically enter into transactions only with major global financial institutions. OTC derivatives of the type that may be utilized by the Funds are generally less liquid than futures contracts because they are not traded on an exchange, do not have uniform terms and conditions, and are generally entered into based upon the creditworthiness of the parties and the availability of credit support, such as collateral, and in general, are not transferable without the consent of the counterparty. These agreements contain various conditions, events of default, termination events, covenants and representations. The triggering of certain events or the default on certain terms of the agreement could allow a party to terminate a transaction under the agreement and request immediate payment in an amount equal to the net positions owed to the party under the agreement. For example, if the level of the Fund’s benchmark has a dramatic intraday move that would cause a material decline in the Fund’s NAV, the terms of the swap may permit the counterparty to immediately close out the transaction with the Fund. In that event, it may not be possible for the Fund to enter into another swap or to invest in other Financial Instruments necessary to achieve the desired exposure consistent with the Fund’s objective. This, in turn, may prevent the Fund from achieving its investment objective, particularly if the level of the Fund’s benchmark reverses all or part of its intraday move by the end of the day. In addition, cleared derivatives benefit from daily marking-to-market The Sponsor regularly reviews the performance of its counterparties for, among other things, creditworthiness and execution quality. In addition, the Sponsor periodically considers the addition of new counterparties and the counterparties used by a Fund may change at any time. Each day, the Funds disclose their portfolio holdings as of the prior Business Day. Each Fund’s portfolio holdings identifies its counterparties, as applicable. This portfolio holdings information may be accessed through the web on the Sponsor’s website at www.ProShares.com. Each counterparty and/or any of its affiliates may be an Authorized Participant or shareholder of a Fund, subject to applicable law. The counterparty risk for cleared derivatives transactions is generally lower than for OTC derivatives. Once a transaction is cleared, the clearing organization is substituted and is a Fund’s counterparty on the derivative. The clearing organization guarantees the performance of the other side of the derivative. Nevertheless, some risk remains, as there is no assurance that the clearing organization, or its members, will satisfy its obligations to a Fund. Leverage Risk The Leveraged Funds may utilize leverage in seeking to achieve their respective investment objectives and will lose more money in market environments adverse to their respective daily investment objectives than funds that do not employ leverage. The use of leveraged and/or inverse leveraged positions increases the risk of total loss of an investor’s investment, even over periods as short as a single day. For example, because the UltraShort Funds and Ultra Funds (except for the Ultra VIX Short-Term Futures ETF which includes a one and one-half times multiplier) include a two times the inverse (-2x), or a two times (2x) multiplier, a single-day movement in the relevant benchmark approaching 50% at any point in the day could result in the total loss or almost total loss of an investor’s investment if that movement is contrary to the investment objective of the Fund in which an investor has invested, even if such Fund’s benchmark subsequently moves in an opposite direction, eliminating all or a portion of the movement. For the UltraPro Fund and UltraPro Short Fund, because the Funds include a three times (3x) or three times the inverse (-3x) multiplier, a single day movement in the benchmark approaching 33% at any point in the day could result in the total loss or almost total loss of an investor’s investment if that movement is contrary to the investment objective of the Fund in which an investor has invested, even if the benchmark subsequently moves in an opposite direction, eliminating all or a portion of the movement. This would be the case with downward single-day or intraday movements in the underlying benchmark of an Ultra Fund and UltraPro Fund or upward single-day or intraday movements in the benchmark of an UltraShort Fund and UltraPro Short Fund, even if the underlying benchmark maintains a level greater than zero at all times.Liquidity Risk Financial Instruments cannot always be liquidated at the desired price. It is difficult to execute a trade at a specific price when there is a relatively small volume of buy and sell orders in a market. A market disruption can also make it difficult to liquidate a position or find a swap or forward contract counterparty at a reasonable cost. Market illiquidity may cause losses for the Funds. The large size of the positions which the Funds may acquire increases the risk of illiquidity by both making their positions more difficult to liquidate and increasing the losses incurred while trying to do so. Any type of disruption or illiquidity will potentially be exacerbated due to the fact that the Funds will typically invest in Financial Instruments related to one benchmark, which in many cases is highly concentrated. “Contango” and “Backwardation” Risk In Funds that hold futures contracts, as the futures contracts near expiration, they are generally replaced by contracts that have a later expiration. Thus, for example, a contract purchased and held in November 2018 may specify a January 2019 expiration. As that contract nears expiration, it may be replaced by selling the January 2019 contract and purchasing the contract expiring in March 2019. This process is referred to as “rolling.” Rolling may have a positive or negative impact on performance. For example, historically, the prices of certain types of futures contracts have frequently been higher for contracts with shorter-term expirations than for contracts with longer-term expirations, which is referred to as “backwardation.” In these circumstances, absent other factors, the sale of the January 2019 contract would take place at a price that is higher than the price at which the March 2019 contract is purchased, thereby creating a gain in connection with rolling. While certain types of futures contracts have historically exhibited consistent periods of backwardation, backwardation will likely not exist in these markets at all times. The presence of contango (where prices of contracts are higher in the distant delivery months than in the nearer delivery months due to the costs of long-term storage of a physical commodity prior to delivery or other factors) in certain futures contracts at the time of rolling would be expected to adversely affect an Ultra Fund, an UltraPro Fund or a Matching VIX Fund that invests in such futures, and positively affect a Short Fund, an UltraShort Fund or an UltraPro Short Fund that invests in such futures. Similarly, the presence of backwardation in certain futures contracts at the time of rolling such contracts would be expected to adversely affect the Short Funds, UltraShort Funds, and UltraPro Short Funds, and positively affect the Ultra Funds, UltraPro Funds and Matching VIX Funds. Since the introduction of VIX futures contracts, there have frequently been periods where VIX futures prices reflect higher expected volatility levels further out in time. This can result in a loss from “rolling” the VIX futures to maintain the constant weighted average maturity of the applicable VIX Futures Index. Losses from exchanging a lower priced VIX future for a higher priced longer-term future in the rolling process would adversely affect the value of each VIX Futures Index and, accordingly, decrease the return of the Ultra VIX Short-Term Futures ETF and the Matching VIX Funds. Gold and silver have historically exhibited persistent “contango” markets rather than backwardation. Natural gas, like crude oil, moves in and out of backwardation and contango but historically has been in contango most commonly. Change to Investment Strategies In anticipation of the benchmark’s upcoming roll, and in order to help manage the impact of recent extraordinary conditions and volatility in the markets for crude oil and related Financial Instruments, each Oil Fund adjusted its portfolio exposure as described below.
Following this portfolio transition each Oil Fund had exposure to WTI crude oil futures contracts that are not included in the current benchmark. The performance of each Fund should not be expected to correspond to two times (2x), or two times the inverse (-2x), asapplicable, of the daily performance of its current benchmark. Each Fund’s performance could differ significantly from its stated investment objective. In addition, to the extent an Oil Fund has exposure to a longer-dated WTI crude oil futures contract (e.g., October, November and December 2020 instead of September 2020), the performance of the Fund may be expected to deviate to a greater extent from the “spot” price of WTI crude oil (which the Fund does not seek to track) than if the Fund had exposure to a shorter-dated futures contract. WTI crude oil futures contracts (and thus each Fund) typically perform very differently from the “spot” price of WTI crude oil. The performance of each Fund therefore will very likely differ in amount, and possibly even direction, from the performance of the “spot” price of WTI crude oil. There can be no guarantee that each Oil Fund will be able to implement the strategies described above or in its Prospectus, continue to use such strategies, or that such strategies will be beneficial. Recent global developments affecting crude oil markets and the markets for crude oil futures contracts have dramatically increased volatility and increased the likelihood of investors suffering significant or total loss from crude oil-related investments, including an investment in a Fund.Change to new Benchmark Index Each Oil Fund intends to change its benchmark from the Bloomberg WTI Crude Oil Subindex SM to the Bloomberg Commodity Balanced WTI Crude Oil IndexSM (“New Crude Oil Benchmark”). In order for the Funds to implement this change, the SEC must approve changes to the NYSE’s listing rules applicable to the Funds. On July 31, 2020, the NYSE filed a listing rule change request with the SEC. If the SEC approves the listing rule changes, each Fund will change its benchmark and thereafter will seek daily investment results, before fees and expenses, that correspond to the New Crude Oil Benchmark’s performance times the stated multiple in the Fund’s investment objective. Although the Sponsor expects that the SEC will approve the listing rule changes, there can be no assurance that the SEC does so. The New Benchmark aims to track the performance of three separate contract schedules for WTI Crude Oil futures. One third of the New Benchmark follows a monthly roll schedule two months beyond the nearby contract. The second third of the New Benchmark follows a June annual roll schedule, while the remaining third follows a December annual roll schedule. The New Benchmark weights are equally reset semi-annually in the months of March and September on close of the first business day. The weighting of the futures contracts included in the New Benchmark is allowed to drift between the semi-annual reset dates. The New Benchmark is not linked to the “spot” price of WTI crude oil. The methodology for determining the composition of the New Benchmark and for calculating its level may be changed at any time by Bloomberg without notice. The daily performance of the New Benchmark is published by Bloomberg Finance L.P. and is available under the Bloomberg ticker symbol: BCBCLI Index. Natural Disaster/Epidemic Risk Natural or environmental disasters, such as earthquakes, fires, floods, hurricanes, tsunamis and other severe weather-related phenomena generally, and widespread disease, including pandemics and epidemics (for example, the novel coronavirus COVID-19), have been and can be highly disruptive to economies and markets and have recently led, and may continue to lead, to increased market volatility and significant market losses. Such natural disaster and health crises could exacerbate political, social, and economic risks previously mentioned, and result in significant breakdowns, delays, shutdowns, social isolation, and other disruptions to important global, local and regional supply chains affected, with potential corresponding results on the operating performance of the Funds and their investments. A climate of uncertainty and panic, including the contagion of infectious viruses or diseases, may adversely affect global, regional, and local economies and reduce the availability of potential investment opportunities, and increases the difficulty of performing due diligence and modeling market conditions, potentially reducing the accuracy of financial projections. Under these circumstances, the Funds may have difficulty achieving their investment objectives which may adversely impact performance. Further, such events can be highly disruptive to economies and markets, significantly disrupt the operations of individual companies (including, but not limited to, the Funds’ Sponsor and third party service providers), sectors, industries, markets, securities and commodity exchanges, currencies, interest and inflation rates, credit ratings, investor sentiment, and other factors affecting the value of the Funds’ investments. These factors can cause substantial market volatility, exchange trading suspensions and closures and can impact the ability of the Funds to complete redemptions and otherwise affect Fund performance and Fund trading in the secondary market. A widespread crisis may also affect the global economy in ways that cannot necessarily be foreseen at the current time. How long such events will last and whether they will continue or recur cannot be predicted. Impacts from these events could have significant impact on a Fund’s performance, resulting in losses to your investment.Risk that Current Assumptions and Expectations Could Become Outdated As a Result of Global Economic Shocks The onset of the novel coronavirus
(COVID-19) has caused significant shocks to global financial markets and economies, with many governments taking extreme actions to slow and contain the spread of COVID-19. These actions have had, and likely will continue to have, a severe economic impact on global economies as economic activity in some instances has essentially ceased. Financial markets across the globe are experiencing severe distress at least equal to what was experienced during the global financial crisis in 2008. In March 2020, U.S. equity markets entered a bear market in the fastest such move in the history of U.S. financial markets. Contemporaneous with the onset of the COVID-19 pandemic in the US, oil experienced shocks to supply and demand, impacting the price and volatility of oil. The global economic shocks being experienced as of the date hereof may cause the underlying assumptions and expectations of the Funds to become outdated quickly or inaccurate, resulting in significant losses. |
Subsequent Events |
6 Months Ended |
|---|---|
Jun. 30, 2020 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | NOTE 9 – SUBSEQUENT EVENTS Management has evaluated the possibility of subsequent events existing in the Trust’s and the Funds’ financial statements through the date the financial statements were issued. Management has determined that there are no material events that would require disclosure in the Trust’s or the Funds’ financial statements through this date. |
Significant Accounting Policies (Policies) |
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| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Use of Estimates & Indemnifications | Use of Estimates & Indemnifications The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In the normal course of business, the Trust enters into contracts that contain a variety of representations which provide general indemnifications. The Trust’s maximum exposure under these arrangements cannot be known; however, the Trust expects any risk of loss to be remote. |
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| Basis of Presentation | Basis of Presentation Pursuant to rules and regulations of the SEC, these financial statements are presented for the Trust as a whole, as the SEC registrant, and for each Fund individually. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular Fund shall be enforceable only against the assets of such Fund and not against the assets of the Trust generally or any other Fund. Accordingly, the assets of each Fund of the Trust include only those funds and other assets that are paid to, held by or distributed to the Trust for the purchase of Shares in that Fund. |
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| Statement of Cash Flows | Statement of Cash Flows The cash amount shown in the Statements of Cash Flows is the amount reported as cash in the Statement of Financial Condition dated June 30, 2020 and 2019, and represents cash, segregated cash balances with brokers for futures contracts, segregated cash with brokers for swap agreements, segregated cash with brokers for forward agreements, and segregated cash with brokers for foreign currency forward agreements but does not include short-term investments. |
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| Final Net Asset Value for Fiscal Period | Final Net Asset Value for Fiscal Period The cut-off times and the times of the calculation of the Funds’ final net asset value for creation and redemption of fund Shares for the six months ended June 30, 2020 were typically as follows. All times are Eastern Standard Time:
Market value per Share is determined at the close of the NYSE Arca and may be later than when the Funds’ NAV per Share is calculated. For financial reporting purposes, the Funds value transactions based upon the final closing price in their primary markets. Accordingly, the investment valuations in these financial statements may differ from those used in the calculation of certain of the Funds’ final creation/redemption NAV for the six months ended June 30, 2020. |
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| Investment Valuation | Investment Valuation Short-term investments are valued at amortized cost which approximates fair value for daily NAV purposes. For financial reporting purposes, short-term investments are valued at their market price using information provided by a third-party pricing service or market quotations. In each of these situations, valuations are typically categorized as Level I in the fair value hierarchy. Derivatives (e.g., futures contracts, options, swap agreements, forward agreements and foreign currency forward contracts) are generally valued using independent sources and/or agreements with counterparties or other procedures as determined by the Sponsor. Futures contracts, except for those entered into by the Gold, Silver, Australian Dollar and Short Euro Funds, are generally valued at the last settled price on the applicable exchange on which that future trades. Futures contracts entered into by the Gold, Silver, Australian Dollar and Short Euro Funds are generally valued at the last sales price prior to the time at which the NAV per Share of a Fund is determined. For financial reporting purposes, all futures contracts are generally valued at the last settled price. Futures contracts valuations are typically categorized as Level I in the fair value hierarchy. Swap agreements, forward agreements and foreign currency forward contracts valuations are typically categorized as Level II in the fair value hierarchy. The Sponsor may in its sole discretion choose to determine a fair value price as the basis for determining the market value of such position. Such fair value prices would generally be determined based on available inputs about the current value of the underlying financial instrument or commodity and would be based on principles that the Sponsor deems fair and equitable so long as such principles are consistent with industry standards. The Sponsor may fair value an asset of a Fund pursuant to the policies the Sponsor has adopted. Depending on the source and relevant significance of valuation inputs, these instruments may be classified as Level II or Level III in the fair value hierarchy. Fair value pricing may require subjective determinations about the value of an investment. While the Funds’ policies are intended to result in a calculation of its respective Fund’s NAV that fairly reflects investment values as of the time of pricing, such Fund cannot ensure that fair values determined by the Sponsor or persons acting at their direction would accurately reflect the price that a Fund could obtain for an investment if it were to dispose of that investment as of the time of pricing (for instance, in a forced or distressed sale). The prices used by such Fund may differ from the value that would be realized if the investments were sold and the differences could be material to the financial statements. |
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| Fair Value of Financial Instruments | Fair Value of Financial Instruments The Funds disclose the fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The disclosure requirements establish a fair value hierarchy that distinguishes between: (1) market participant assumptions developed based on market data obtained from sources independent of the Funds (observable inputs); and (2) the Funds’ own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs). The three levels defined by the disclosure requirements hierarchy are as follows: Level I – Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level II – Inputs other than quoted prices included within Level I that are observable for the asset or liability, either directly or indirectly. Level II assets include the following: quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market-corroborated inputs). Level III – Unobservable pricing input at the measurement date for the asset or liability. Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not available. In some instances, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. The level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest input level that is significant to the fair value measurement in its entirety. Fair value measurements also require additional disclosure when the volume and level of activity for the asset or liability have significantly decreased, as well as when circumstances indicate that a transaction is not orderly. The following table summarizes the valuation of investments at June 30, 2020 using the fair value hierarchy:
The inputs or methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those securities. The following table summarizes the valuation of investments at December 31, 2019 using the fair value hierarchy:
The inputs or methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those securities. |
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| Investment Transactions and Related Income | Investment Transactions and Related Income Investment transactions are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Unrealized appreciation (depreciation) on open contracts are reflected in the Statements of Financial Condition and changes in the unrealized appreciation (depreciation) between periods are reflected in the Statements of Operations. Interest income is recognized on an accrual basis and includes, where applicable, the amortization of premium or discount, and is reflected as Interest Income in the Statement of Operations. |
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| Brokerage Commissions and Fees | Brokerage Commissions and Fees Each Fund pays its respective brokerage commissions, including applicable exchange fees, National Futures Association (“NFA”) fees,
give-up fees, pit brokerage fees and other transaction related fees and expenses charged in connection with trading activities for each Fund’s investment in U.S. Commodity Futures Trading Commission (“CFTC”) regulated investments. The effects of trading spreads, financing costs/fees associated with Financial Instruments, and costs relating to the purchase of U.S. Treasury securities or similar high credit quality short-term fixed-income would also be borne by the Funds. Brokerage commissions on futures contracts are recognized on a half-turn basis (e.g., the first half is recognized when the contract is purchased (opened) and the second half is recognized when the transaction is closed). The Sponsor is currently paying brokerage commissions on VIX futures contracts for the Matching VIX Funds that exceed variable create/redeem fees collected by more than 0.02% of the Matching VIX Fund’s average net assets annually. |
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| Federal Income Tax | Federal Income Tax Each Fund is registered as a series of a Delaware statutory trust and is treated as a partnership for U.S. federal income tax purposes. Accordingly, no Fund expects to incur U.S. federal income tax liability; rather, each beneficial owner of a Fund’s Shares is required to take into account its allocable share of its Fund’s income, gain, loss, deductions and other items for its Fund’s taxable year ending with or within the beneficial owner’s taxable year. Management of the Funds has reviewed all open tax years and major jurisdictions (i.e., the last four tax year ends and the interim tax period since then, as applicable) and concluded that there is no tax liability resulting from unrecognized tax benefits relating to uncertain income tax positions taken or expected to be taken in future tax returns. The Funds are also not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. On an ongoing basis, management monitors its tax positions taken under the interpretation to determine if adjustments to conclusions are necessary based on factors including, but not limited to,
on-going analysis of tax law, regulation, and interpretations thereof. |
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Organization (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||
| Schedule of Share Splits and Reverse Share Splits | The table below includes Share splits and reverse Share splits for the Funds during the year ended December 31, 2019 and during the six months ended June 30, 2020. The ticker symbols for these Funds did not change, and each Fund continues to trade on the NYSE Arca.
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Significant Accounting Policies (Tables) |
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| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cut-off Times and Times of Calculation of Funds' Final Net Asset Value for Creation and Redemption of Fund Shares | The cut-off times and the times of the calculation of the Funds’ final net asset value for creation and redemption of fund Shares for the six months ended June 30, 2020 were typically as follows. All times are Eastern Standard Time:
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| Valuation of Investments using Fair Value Hierarchy | The following table summarizes the valuation of investments at June 30, 2020 using the fair value hierarchy:
The inputs or methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those securities. The following table summarizes the valuation of investments at December 31, 2019 using the fair value hierarchy:
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Investments (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value of Derivative Instruments | The following tables indicate the location of derivative related items on the Statement of Financial Condition as well as the effect of derivative instruments on the Statement of Operations during the reporting period. Fair Value of Derivative Instruments as of June 30, 2020
Fair Value of Derivative Instruments as of December 31, 2019
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| Effect of Derivative Instruments on Statements of Operations | The Effect of Derivative Instruments on the Statement of Operations For the three months ended June 30, 2020
The Effect of Derivative Instruments on the Statement of Operations For the six months ended June 30, 2020
* The operations include the activity of ProShares UltraPro 3x Crude Oil ETF through April 3, 2020, and ProShares UltraPro 3x Short Crude Oil ETF through April 13, 2020, the date of liquidation, respectively . The Effect of Derivative Instruments on the Statement of Operations For the three months ended June 30, 2019
The Effect of Derivative Instruments on the Statement of Operations For the six months ended June 30, 2019
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| Offsetting of Financial Assets and Liabilities | The following table presents each Fund’s derivatives by investment type and by counterparty net of amounts available for offset under a master netting agreement and the related collateral received or pledged by the Funds as of June 30, 2020.
The following table presents each Fund’s derivatives by investment type and by counterparty net of amounts available for offset under a master netting agreement and the related collateral received or pledged by the Funds as of December 31, 2019:
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| Gross Amounts Not Offset in Statements of Financial Condition | Asset (Liability) amounts shown in the table below represent amounts owed to (by) the Funds for the derivative-related investments at June 30, 2020. These amounts may be collateralized by cash or financial instruments, segregated for the benefit of the Funds or the counterparties, depending on whether the related contracts are in an appreciated or depreciated position at period end. Amounts shown in the column labeled “Net Amount” represent the uncollateralized portions of these amounts at period end. These amounts may be
un-collateralized due to timing differences related to market movements or due to minimum thresholds for collateral movement, as further described above under the caption “Accounting for Derivative Instruments”.
Asset (Liability) amounts shown in the table below represent amounts owed to (by) the Funds for the derivative-related investments at December 31, 2019. These amounts may be collateralized by cash or financial instruments, segregated for the benefit of the Funds or the counterparties, depending on whether the related contracts are in an appreciated or depreciated position at period end. Amounts shown in the column labeled “Net Amount” represent the uncollateralized portions of these amounts at period end. These amounts may be
un-collateralized due to timing differences related to market movements or due to minimum thresholds for collateral movement, as further described above under the caption “Accounting for Derivative Instruments”.
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Creation and Redemption of Creation Units (Tables) |
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| Text Block [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Transaction Fees | Transaction fees for the three and six months ended June 30, 2020 which are included in the Addition and/or Redemption of Shares on the Statements of Changes in Shareholders’ Equity, were as follows:
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Financial Highlights (Tables) |
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| Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Per Share Operating Performance | Selected data for a Share outstanding throughout the three months ended June 30, 2020 For the Three Months Ended June 30, 2020 (unaudited)
For the Three Months Ended June 30, 2020 (unaudited)
For the Three Months Ended June 30, 2020 (unaudited)
Selected data for a Share outstanding throughout the three months ended June 30, 2019 For the Three Months Ended June 30, 2019 (unaudited)
For the Three Months Ended June 30, 2019 (unaudited)
For the Three Months Ended June 30, 2019 (unaudited)
For the Three Months Ended June 30, 2019 (unaudited)
Selected data for a Share outstanding throughout the six months ended June 30, 2020 For the Six Months Ended June 30, 2020 (unaudited)
For the Six Months Ended June 30, 2020 (unaudited)
For the Six Months Ended June 30, 2020 (unaudited)
Selected data for a Share outstanding throughout the six months ended June 30, 2019 For the Six Months Ended June 30, 2019 (unaudited)
For the Six Months Ended June 30, 2019 (unaudited)
For the Six Months Ended June 30, 2019 (unaudited)
For the Six Months Ended June 30, 2019 (unaudited)
|
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Schedule of Investments - Short-Term U.S. Government and Agency Obligations (Detail) - U.S. Government Agencies Short-term Debt Securities [Member] - USD ($) |
Jun. 30, 2020 |
Dec. 31, 2019 |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Schedule of Investments [Line Items] | ||||||||||
| Short-term U.S. government and agency obligations, value | $ 651,893,780 | $ 1,084,925,128 | ||||||||
| ProShares Short VIX Short-Term Futures ETF [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Short-term U.S. government and agency obligations, value | 124,974,901 | 56,929,436 | ||||||||
| ProShares Short VIX Short-Term Futures ETF [Member] | U.S. Treasury Bills 0.067% due 07/16/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1] | 35,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1] | 34,998,103 | ||||||||
| ProShares Short VIX Short-Term Futures ETF [Member] | U.S. Treasury Bills 0.154% due 09/03/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1] | 90,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1] | 89,976,798 | ||||||||
| ProShares Ultra Bloomberg Natural Gas [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Short-term U.S. government and agency obligations, value | 15,997,708 | 27,530,314 | ||||||||
| ProShares Ultra Bloomberg Natural Gas [Member] | U.S. Treasury Bills 0.067% due 07/16/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1] | 9,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1] | 8,999,512 | ||||||||
| ProShares Ultra Bloomberg Natural Gas [Member] | U.S. Treasury Bills 0.154% due 09/03/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1] | 7,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1] | 6,998,196 | ||||||||
| ProShares Ultra Gold [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Short-term U.S. government and agency obligations, value | 100,983,863 | 66,177,998 | ||||||||
| ProShares Ultra Gold [Member] | U.S. Treasury Bills 0.067% due 07/16/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1] | 30,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1] | 29,998,374 | ||||||||
| ProShares Ultra Gold [Member] | U.S. Treasury Bills 0.114% due 08/13/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1] | 37,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1] | 36,994,254 | ||||||||
| ProShares Ultra Gold [Member] | U.S. Treasury Bills 0.154% due 09/03/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1],[2] | 34,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1],[2] | 33,991,235 | ||||||||
| ProShares Ultra Silver [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Short-term U.S. government and agency obligations, value | 110,982,105 | 135,544,101 | ||||||||
| ProShares Ultra Silver [Member] | U.S. Treasury Bills 0.067% due 07/16/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1],[2] | 30,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1],[2] | 29,998,374 | ||||||||
| ProShares Ultra Silver [Member] | U.S. Treasury Bills 0.114% due 08/13/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1],[2] | 45,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1],[2] | 44,993,012 | ||||||||
| ProShares Ultra Silver [Member] | U.S. Treasury Bills 0.154% due 09/03/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1],[2] | 36,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1],[2] | 35,990,719 | ||||||||
| ProShares Ultra VIX Short-Term Futures ETF [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Short-term U.S. government and agency obligations, value | 96,985,173 | 179,749,262 | ||||||||
| ProShares Ultra VIX Short-Term Futures ETF [Member] | U.S. Treasury Bills 0.067% due 07/16/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1] | 50,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1] | 49,997,290 | ||||||||
| ProShares Ultra VIX Short-Term Futures ETF [Member] | U.S. Treasury Bills 0.154% due 09/03/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1] | 47,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1] | 46,987,883 | ||||||||
| ProShares UltraShort Bloomberg Natural Gas [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Short-term U.S. government and agency obligations, value | 1,999,892 | 5,154,876 | ||||||||
| ProShares UltraShort Bloomberg Natural Gas [Member] | U.S. Treasury Bills 0.067% due 07/16/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1] | 2,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1] | 1,999,892 | ||||||||
| ProShares UltraShort Euro [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Short-term U.S. government and agency obligations, value | 74,987,908 | 78,590,100 | ||||||||
| ProShares UltraShort Euro [Member] | U.S. Treasury Bills 0.067% due 07/16/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1],[3] | 25,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1],[3] | 24,998,645 | ||||||||
| ProShares UltraShort Euro [Member] | U.S. Treasury Bills 0.114% due 08/13/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1] | 21,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1] | 20,996,739 | ||||||||
| ProShares UltraShort Euro [Member] | U.S. Treasury Bills 0.154% due 09/03/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1],[3] | 29,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1],[3] | 28,992,524 | ||||||||
| ProShares UltraShort Gold [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Short-term U.S. government and agency obligations, value | 7,999,566 | 12,355,192 | ||||||||
| ProShares UltraShort Gold [Member] | U.S. Treasury Bills 0.067% due 07/16/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1] | 8,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1] | 7,999,566 | ||||||||
| ProShares UltraShort Yen [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Short-term U.S. government and agency obligations, value | 20,998,047 | 25,542,823 | ||||||||
| ProShares UltraShort Yen [Member] | U.S. Treasury Bills 0.067% due 07/16/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1] | 17,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1] | 16,999,078 | ||||||||
| ProShares UltraShort Yen [Member] | U.S. Treasury Bills 0.154% due 09/03/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1],[3] | 4,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1],[3] | 3,998,969 | ||||||||
| ProShares VIX Mid-Term Futures ETF [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Short-term U.S. government and agency obligations, value | 32,994,750 | 13,980,559 | ||||||||
| ProShares VIX Mid-Term Futures ETF [Member] | U.S. Treasury Bills 0.067% due 07/16/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1],[4] | 16,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1],[4] | 15,999,133 | ||||||||
| ProShares VIX Mid-Term Futures ETF [Member] | U.S. Treasury Bills 0.154% due 09/03/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1],[4] | 17,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1],[4] | 16,995,617 | ||||||||
| ProShares VIX Short-Term Futures ETF [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Short-term U.S. government and agency obligations, value | 62,989,867 | $ 96,868,817 | ||||||||
| ProShares VIX Short-Term Futures ETF [Member] | U.S. Treasury Bills 0.070% due 07/16/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1],[4] | 30,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1],[4] | 29,998,374 | ||||||||
| ProShares VIX Short-Term Futures ETF [Member] | U.S. Treasury Bills 0.150% due 09/03/20 [Member] | ||||||||||
| Schedule of Investments [Line Items] | ||||||||||
| Principal Amount | [1],[4] | 33,000,000 | ||||||||
| Short-term U.S. government and agency obligations, value | [1],[4] | $ 32,991,493 | ||||||||
| ||||||||||
Schedule of Investments - Short-Term U.S. Government and Agency Obligations (Parenthetical) (Detail) - U.S. Government Agencies Short-term Debt Securities [Member] - USD ($) |
6 Months Ended | |
|---|---|---|
Jun. 30, 2020 |
Dec. 31, 2019 |
|
| Schedule of Investments [Line Items] | ||
| Total short-term U.S. government and agency obligations, cost | $ 651,899,914 | $ 1,084,860,512 |
| ProShares Short VIX Short-Term Futures ETF [Member] | ||
| Schedule of Investments [Line Items] | ||
| Short-term U.S. government and agency obligations percentage of shareholders' equity | 25.00% | |
| Total short-term U.S. government and agency obligations, cost | $ 124,974,892 | 56,926,750 |
| ProShares Short VIX Short-Term Futures ETF [Member] | U.S. Treasury Bills 0.067% due 07/16/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.067% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Jul. 16, 2020 | |
| ProShares Short VIX Short-Term Futures ETF [Member] | U.S. Treasury Bills 0.154% due 09/03/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.154% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Sep. 03, 2020 | |
| ProShares Ultra Bloomberg Natural Gas [Member] | ||
| Schedule of Investments [Line Items] | ||
| Short-term U.S. government and agency obligations percentage of shareholders' equity | 32.00% | |
| Total short-term U.S. government and agency obligations, cost | $ 15,997,877 | 27,528,924 |
| ProShares Ultra Bloomberg Natural Gas [Member] | U.S. Treasury Bills 0.067% due 07/16/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.067% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Jul. 16, 2020 | |
| ProShares Ultra Bloomberg Natural Gas [Member] | U.S. Treasury Bills 0.154% due 09/03/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.154% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Sep. 03, 2020 | |
| ProShares Ultra Gold [Member] | ||
| Schedule of Investments [Line Items] | ||
| Short-term U.S. government and agency obligations percentage of shareholders' equity | 61.00% | |
| Total short-term U.S. government and agency obligations, cost | $ 100,985,199 | 66,174,584 |
| ProShares Ultra Gold [Member] | U.S. Treasury Bills 0.067% due 07/16/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.067% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Jul. 16, 2020 | |
| ProShares Ultra Gold [Member] | U.S. Treasury Bills 0.114% due 08/13/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.114% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Aug. 13, 2020 | |
| ProShares Ultra Gold [Member] | U.S. Treasury Bills 0.154% due 09/03/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.154% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Sep. 03, 2020 | |
| ProShares Ultra Silver [Member] | ||
| Schedule of Investments [Line Items] | ||
| Short-term U.S. government and agency obligations percentage of shareholders' equity | 44.00% | |
| Total short-term U.S. government and agency obligations, cost | $ 110,983,611 | 135,537,081 |
| ProShares Ultra Silver [Member] | U.S. Treasury Bills 0.067% due 07/16/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.067% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Jul. 16, 2020 | |
| ProShares Ultra Silver [Member] | U.S. Treasury Bills 0.114% due 08/13/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.114% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Aug. 13, 2020 | |
| ProShares Ultra Silver [Member] | U.S. Treasury Bills 0.154% due 09/03/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.154% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Sep. 03, 2020 | |
| ProShares Ultra VIX Short-Term Futures ETF [Member] | ||
| Schedule of Investments [Line Items] | ||
| Short-term U.S. government and agency obligations percentage of shareholders' equity | 10.00% | |
| Total short-term U.S. government and agency obligations, cost | $ 96,986,029 | 179,736,532 |
| ProShares Ultra VIX Short-Term Futures ETF [Member] | U.S. Treasury Bills 0.067% due 07/16/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.067% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Jul. 16, 2020 | |
| ProShares Ultra VIX Short-Term Futures ETF [Member] | U.S. Treasury Bills 0.154% due 09/03/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.154% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Sep. 03, 2020 | |
| ProShares UltraShort Bloomberg Natural Gas [Member] | ||
| Schedule of Investments [Line Items] | ||
| Short-term U.S. government and agency obligations percentage of shareholders' equity | 7.00% | |
| Total short-term U.S. government and agency obligations, cost | $ 1,999,946 | 5,154,603 |
| ProShares UltraShort Bloomberg Natural Gas [Member] | U.S. Treasury Bills 0.067% due 07/16/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.067% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Jul. 16, 2020 | |
| ProShares UltraShort Euro [Member] | ||
| Schedule of Investments [Line Items] | ||
| Short-term U.S. government and agency obligations percentage of shareholders' equity | 95.00% | |
| Total short-term U.S. government and agency obligations, cost | $ 74,988,779 | 78,586,073 |
| ProShares UltraShort Euro [Member] | U.S. Treasury Bills 0.067% due 07/16/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.067% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Jul. 16, 2020 | |
| ProShares UltraShort Euro [Member] | U.S. Treasury Bills 0.114% due 08/13/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.114% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Aug. 13, 2020 | |
| ProShares UltraShort Euro [Member] | U.S. Treasury Bills 0.154% due 09/03/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.154% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Sep. 03, 2020 | |
| ProShares UltraShort Gold [Member] | ||
| Schedule of Investments [Line Items] | ||
| Short-term U.S. government and agency obligations percentage of shareholders' equity | 50.00% | |
| Total short-term U.S. government and agency obligations, cost | $ 7,999,783 | 12,354,582 |
| ProShares UltraShort Gold [Member] | U.S. Treasury Bills 0.067% due 07/16/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.067% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Jul. 16, 2020 | |
| ProShares UltraShort Yen [Member] | ||
| Schedule of Investments [Line Items] | ||
| Short-term U.S. government and agency obligations percentage of shareholders' equity | 70.00% | |
| Total short-term U.S. government and agency obligations, cost | $ 20,998,466 | 25,541,523 |
| ProShares UltraShort Yen [Member] | U.S. Treasury Bills 0.067% due 07/16/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.067% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Jul. 16, 2020 | |
| ProShares UltraShort Yen [Member] | U.S. Treasury Bills 0.154% due 09/03/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.154% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Sep. 03, 2020 | |
| ProShares VIX Mid-Term Futures ETF [Member] | ||
| Schedule of Investments [Line Items] | ||
| Short-term U.S. government and agency obligations percentage of shareholders' equity | 56.00% | |
| Total short-term U.S. government and agency obligations, cost | $ 32,995,003 | 13,979,509 |
| ProShares VIX Mid-Term Futures ETF [Member] | U.S. Treasury Bills 0.067% due 07/16/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.067% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Jul. 16, 2020 | |
| ProShares VIX Mid-Term Futures ETF [Member] | U.S. Treasury Bills 0.154% due 09/03/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.154% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Sep. 03, 2020 | |
| ProShares VIX Short-Term Futures ETF [Member] | ||
| Schedule of Investments [Line Items] | ||
| Short-term U.S. government and agency obligations percentage of shareholders' equity | 28.00% | |
| Total short-term U.S. government and agency obligations, cost | $ 62,990,329 | $ 96,862,355 |
| ProShares VIX Short-Term Futures ETF [Member] | U.S. Treasury Bills 0.070% due 07/16/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.07% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Jul. 16, 2020 | |
| ProShares VIX Short-Term Futures ETF [Member] | U.S. Treasury Bills 0.150% due 09/03/20 [Member] | ||
| Schedule of Investments [Line Items] | ||
| Interest rate | 0.15% | |
| Discount rate at the time of purchase | true | |
| Investment, maturity date | Sep. 03, 2020 |
Schedule of Investments - Futures Contracts Sold (Detail) - Futures Contracts [Member] - Contracts to Sell [Member] |
Jun. 30, 2020
USD ($)
Contract
|
|---|---|
| ProShares Short Euro [Member] | Euro Fx Currency Futures - CME, expires September 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 16 |
| Notional Amount at Value | $ 2,250,500 |
| Unrealized Appreciation (Depreciation) | 32,520 |
| ProShares Short VIX Short-Term Futures ETF [Member] | |
| Schedule of Investments [Line Items] | |
| Unrealized Appreciation (Depreciation) | $ 9,011,878 |
| ProShares Short VIX Short-Term Futures ETF [Member] | VIX Futures—Cboe, expires July 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 4,764 |
| Notional Amount at Value | $ 147,088,500 |
| Unrealized Appreciation (Depreciation) | $ 6,192,076 |
| ProShares Short VIX Short-Term Futures ETF [Member] | VIX Futures—Cboe, expires August 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 3,411 |
| Notional Amount at Value | $ 108,555,075 |
| Unrealized Appreciation (Depreciation) | $ 2,819,802 |
| ProShares UltraShort Australian Dollar [Member] | Australian Dollar Fx Currency Futures CME expires September 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 163 |
| Notional Amount at Value | $ 11,255,150 |
| Unrealized Appreciation (Depreciation) | 161,350 |
| ProShares UltraShort Bloomberg Crude Oil [Member] | |
| Schedule of Investments [Line Items] | |
| Unrealized Appreciation (Depreciation) | $ (3,674,148) |
| ProShares UltraShort Bloomberg Crude Oil [Member] | WTI Crude Oil - NYMEX, expires September 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 919 |
| Notional Amount at Value | $ 36,153,460 |
| Unrealized Appreciation (Depreciation) | $ 341,288 |
| ProShares UltraShort Bloomberg Crude Oil [Member] | WTI Crude Oil - NYMEX, expires October 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 1,990 |
| Notional Amount at Value | $ 78,565,200 |
| Unrealized Appreciation (Depreciation) | $ (1,580) |
| ProShares UltraShort Bloomberg Crude Oil [Member] | WTI Crude Oil - NYMEX, expires December 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 1,980 |
| Notional Amount at Value | $ 78,566,400 |
| Unrealized Appreciation (Depreciation) | $ (4,013,856) |
| ProShares UltraShort Bloomberg Natural Gas [Member] | Natural Gas - NYMEX, expires September 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 3,192 |
| Notional Amount at Value | $ 57,104,880 |
| Unrealized Appreciation (Depreciation) | $ 1,233,628 |
| ProShares UltraShort Gold [Member] | Gold Futures - COMEX, expires August 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 46 |
| Notional Amount at Value | $ 8,282,300 |
| Unrealized Appreciation (Depreciation) | $ (280,540) |
| ProShares UltraShort Silver [Member] | Silver Futures - COMEX, expires September 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 74 |
| Notional Amount at Value | $ 6,895,690 |
| Unrealized Appreciation (Depreciation) | $ (215,165) |
Schedule of Investments - Futures Contracts Purchased (Detail) - Futures Contracts [Member] - Contracts to Purchase [Member] |
Jun. 30, 2020
USD ($)
Contract
|
|---|---|
| ProShares Ultra Bloomberg Crude Oil [Member] | |
| Schedule of Investments [Line Items] | |
| Total Unrealized (Depreciation) | $ 351,312,965 |
| ProShares Ultra Bloomberg Crude Oil [Member] | WTI Crude Oil - NYMEX, expires September 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 17,132 |
| Notional Amount at Value | $ 673,972,880 |
| Total Unrealized (Depreciation) | $ 141,596,957 |
| ProShares Ultra Bloomberg Crude Oil [Member] | WTI Crude Oil - NYMEX, expires October 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 22,205 |
| Notional Amount at Value | $ 876,653,400 |
| Total Unrealized (Depreciation) | $ (193,822) |
| ProShares Ultra Bloomberg Crude Oil [Member] | WTI Crude Oil - NYMEX, expires December 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 25,357 |
| Notional Amount at Value | $ 1,006,165,760 |
| Total Unrealized (Depreciation) | $ 209,909,830 |
| ProShares Ultra Bloomberg Natural Gas [Member] | Natural Gas - NYMEX, expires September 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 5,659 |
| Notional Amount at Value | $ 101,239,510 |
| Total Unrealized (Depreciation) | $ (2,234,434) |
| ProShares Ultra Gold [Member] | Gold Futures - COMEX, expires August 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 721 |
| Notional Amount at Value | $ 129,816,050 |
| Total Unrealized (Depreciation) | $ 4,288,184 |
| ProShares Ultra Silver [Member] | Silver Futures - COMEX, expires September 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 1,928 |
| Notional Amount at Value | $ 179,660,680 |
| Total Unrealized (Depreciation) | 6,106,569 |
| ProShares Ultra VIX Short-Term Futures ETF [Member] | |
| Schedule of Investments [Line Items] | |
| Total Unrealized (Depreciation) | $ 8,382,719 |
| ProShares Ultra VIX Short-Term Futures ETF [Member] | VIX Futures - Cboe, expires July 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 26,764 |
| Notional Amount at Value | $ 826,338,500 |
| Total Unrealized (Depreciation) | $ 30,231,646 |
| ProShares Ultra VIX Short-Term Futures ETF [Member] | VIX Futures - Cboe, expires August 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 19,103 |
| Notional Amount at Value | $ 607,952,975 |
| Total Unrealized (Depreciation) | (21,848,927) |
| ProShares VIX Mid-Term Futures ETF [Member] | |
| Schedule of Investments [Line Items] | |
| Total Unrealized (Depreciation) | $ 1,389,815 |
| ProShares VIX Mid-Term Futures ETF [Member] | VIX Futures - Cboe, expires October 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 378 |
| Notional Amount at Value | $ 12,540,150 |
| Total Unrealized (Depreciation) | $ 1,143,803 |
| ProShares VIX Mid-Term Futures ETF [Member] | VIX Futures - Cboe, expires November 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 647 |
| Notional Amount at Value | $ 19,782,025 |
| Total Unrealized (Depreciation) | $ 207,043 |
| ProShares VIX Mid-Term Futures ETF [Member] | VIX Futures - Cboe, expires December 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 647 |
| Notional Amount at Value | $ 18,811,525 |
| Total Unrealized (Depreciation) | $ 268,939 |
| ProShares VIX Mid-Term Futures ETF [Member] | VIX Futures - Cboe, expires January 2021 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 270 |
| Notional Amount at Value | $ 7,944,750 |
| Total Unrealized (Depreciation) | (229,970) |
| ProShares VIX Short-Term Futures ETF [Member] | |
| Schedule of Investments [Line Items] | |
| Total Unrealized (Depreciation) | $ 646,187 |
| ProShares VIX Short-Term Futures ETF [Member] | VIX Futures - Cboe, expires July 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 4,125 |
| Notional Amount at Value | $ 127,359,375 |
| Total Unrealized (Depreciation) | $ 4,227,596 |
| ProShares VIX Short-Term Futures ETF [Member] | VIX Futures - Cboe, expires August 2020 [Member] | |
| Schedule of Investments [Line Items] | |
| Number of Contracts | Contract | 2,943 |
| Notional Amount at Value | $ 93,660,975 |
| Total Unrealized (Depreciation) | $ (3,581,409) |
Schedule of Investments - Total Return Swap Agreements (Detail) - Swap Agreements [Member] |
6 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2020
USD ($)
|
[1] | |||||||
| ProShares Ultra Bloomberg Crude Oil [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Unrealized Appreciation (Depreciation)/ Value | $ 10,038,323 | |||||||
| ProShares Ultra Bloomberg Crude Oil [Member] | Goldman Sachs International [Member] | WTI Crude Oil Subindex [Member] | Bloomberg [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Rate Paid (Received) | 8.00% | [2] | ||||||
| Termination Date | Jul. 02, 2020 | |||||||
| Derivative Asset, Notional Amount | $ 225,096,897 | [3] | ||||||
| Unrealized Appreciation (Depreciation)/ Value | $ 8,263,529 | |||||||
| ProShares Ultra Bloomberg Crude Oil [Member] | Morgan Stanley [Member] | WTI Crude Oil Subindex [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Rate Paid (Received) | 0.60% | [2] | ||||||
| Termination Date | Aug. 07, 2020 | |||||||
| Derivative Asset, Notional Amount | $ 129,511,755 | [3] | ||||||
| Unrealized Appreciation (Depreciation)/ Value | $ (100,546) | |||||||
| ProShares Ultra Bloomberg Crude Oil [Member] | Societe Generale [Member] | WTI Crude Oil Subindex [Member] | Bloomberg [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Rate Paid (Received) | 0.25% | [2] | ||||||
| Termination Date | Jul. 02, 2020 | |||||||
| Derivative Asset, Notional Amount | $ 107,081,626 | [3] | ||||||
| Unrealized Appreciation (Depreciation)/ Value | 1,875,340 | |||||||
| ProShares Ultra Gold [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Unrealized Appreciation (Depreciation)/ Value | $ 10,650,992 | |||||||
| ProShares Ultra Gold [Member] | Citibank N.A. [Member] | Gold Subindex [Member] | Bloomberg [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Rate Paid (Received) | 0.25% | [2] | ||||||
| Termination Date | Jul. 06, 2020 | |||||||
| Derivative Asset, Notional Amount | $ 70,552,163 | [3] | ||||||
| Unrealized Appreciation (Depreciation)/ Value | $ 3,728,155 | |||||||
| ProShares Ultra Gold [Member] | Goldman Sachs International [Member] | Gold Subindex [Member] | Bloomberg [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Rate Paid (Received) | 0.25% | [2] | ||||||
| Termination Date | Jul. 06, 2020 | |||||||
| Derivative Asset, Notional Amount | $ 69,644,070 | [3] | ||||||
| Unrealized Appreciation (Depreciation)/ Value | $ 3,680,169 | |||||||
| ProShares Ultra Gold [Member] | UBS AG [Member] | Gold Subindex [Member] | Bloomberg [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Rate Paid (Received) | 0.25% | [2] | ||||||
| Termination Date | Jul. 06, 2020 | |||||||
| Derivative Asset, Notional Amount | $ 61,364,755 | [3] | ||||||
| Unrealized Appreciation (Depreciation)/ Value | 3,242,668 | |||||||
| ProShares Ultra Silver [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Unrealized Appreciation (Depreciation)/ Value | $ 9,002,633 | |||||||
| ProShares Ultra Silver [Member] | Citibank N.A. [Member] | Silver Subindex [Member] | Bloomberg [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Rate Paid (Received) | 0.25% | [2] | ||||||
| Termination Date | Jul. 06, 2020 | |||||||
| Derivative Asset, Notional Amount | $ 135,066,136 | [3] | ||||||
| Unrealized Appreciation (Depreciation)/ Value | $ 3,546,882 | |||||||
| ProShares Ultra Silver [Member] | Goldman Sachs International [Member] | Silver Subindex [Member] | Bloomberg [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Rate Paid (Received) | 0.30% | [2] | ||||||
| Termination Date | Jul. 06, 2020 | |||||||
| Derivative Asset, Notional Amount | $ 93,005,691 | [3] | ||||||
| Unrealized Appreciation (Depreciation)/ Value | $ 2,744,895 | |||||||
| ProShares Ultra Silver [Member] | UBS AG [Member] | Silver Subindex [Member] | Bloomberg [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Rate Paid (Received) | 0.25% | [2] | ||||||
| Termination Date | Jul. 06, 2020 | |||||||
| Derivative Asset, Notional Amount | $ 91,761,402 | [3] | ||||||
| Unrealized Appreciation (Depreciation)/ Value | 2,710,856 | |||||||
| ProShares Ultra VIX Short-Term Futures ETF [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Unrealized Appreciation (Depreciation)/ Value | $ (3,959,662) | |||||||
| ProShares Ultra VIX Short-Term Futures ETF [Member] | Goldman Sachs & Co. [Member] | International Based On iPath Series B S And P 500 VIX Short-Term Futures ETN iNAV Index [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Rate Paid (Received) | 1.03% | [2] | ||||||
| Termination Date | Jul. 29, 2020 | |||||||
| Derivative Asset, Notional Amount | $ 52,525,586 | [3] | ||||||
| Unrealized Appreciation (Depreciation)/ Value | (3,959,662) | |||||||
| ProShares UltraShort Bloomberg Crude Oil [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Unrealized Appreciation (Depreciation)/ Value | $ (2,095,678) | |||||||
| ProShares UltraShort Bloomberg Crude Oil [Member] | Goldman Sachs International [Member] | WTI Crude Oil Subindex [Member] | Bloomberg [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Rate Paid (Received) | 5.00% | [2] | ||||||
| Termination Date | Jul. 02, 2020 | |||||||
| Derivative Liability, Notional Amount | $ (42,317,531) | [3] | ||||||
| Unrealized Appreciation (Depreciation)/ Value | (2,095,678) | |||||||
| ProShares UltraShort Gold [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Unrealized Appreciation (Depreciation)/ Value | $ (1,244,969) | |||||||
| ProShares UltraShort Gold [Member] | Citibank N.A. [Member] | Gold Subindex [Member] | Bloomberg [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Rate Paid (Received) | 0.25% | [2] | ||||||
| Termination Date | Jul. 06, 2020 | |||||||
| Derivative Liability, Notional Amount | $ (10,722,833) | [3] | ||||||
| Unrealized Appreciation (Depreciation)/ Value | $ (569,683) | |||||||
| ProShares UltraShort Gold [Member] | Goldman Sachs International [Member] | Gold Subindex [Member] | Bloomberg [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Rate Paid (Received) | 0.20% | [2] | ||||||
| Termination Date | Jul. 06, 2020 | |||||||
| Derivative Liability, Notional Amount | $ (8,036,739) | [3] | ||||||
| Unrealized Appreciation (Depreciation)/ Value | $ (426,747) | |||||||
| ProShares UltraShort Gold [Member] | UBS AG [Member] | Gold Subindex [Member] | Bloomberg [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Rate Paid (Received) | 0.25% | [2] | ||||||
| Termination Date | Jul. 06, 2020 | |||||||
| Derivative Liability, Notional Amount | $ (4,678,097) | [3] | ||||||
| Unrealized Appreciation (Depreciation)/ Value | (248,539) | |||||||
| ProShares UltraShort Silver [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Unrealized Appreciation (Depreciation)/ Value | $ (383,831) | |||||||
| ProShares UltraShort Silver [Member] | Citibank N.A. [Member] | Silver Subindex [Member] | Bloomberg [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Rate Paid (Received) | 0.25% | [2] | ||||||
| Termination Date | Jul. 06, 2020 | |||||||
| Derivative Liability, Notional Amount | $ (5,885,533) | [3] | ||||||
| Unrealized Appreciation (Depreciation)/ Value | $ (175,594) | |||||||
| ProShares UltraShort Silver [Member] | Goldman Sachs International [Member] | Silver Subindex [Member] | Bloomberg [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Rate Paid (Received) | 0.25% | [2] | ||||||
| Termination Date | Jul. 06, 2020 | |||||||
| Derivative Liability, Notional Amount | $ (3,503,375) | [3] | ||||||
| Unrealized Appreciation (Depreciation)/ Value | $ (88,575) | |||||||
| ProShares UltraShort Silver [Member] | UBS AG [Member] | Silver Subindex [Member] | Bloomberg [Member] | ||||||||
| Schedule of Investments [Line Items] | ||||||||
| Rate Paid (Received) | 0.25% | [2] | ||||||
| Termination Date | Jul. 06, 2020 | |||||||
| Derivative Liability, Notional Amount | $ (4,010,780) | [3] | ||||||
| Unrealized Appreciation (Depreciation)/ Value | $ (119,662) | |||||||
| ||||||||
Schedule of Investments - Foreign Currency Forward Contracts (Detail) - 6 months ended Jun. 30, 2020 - Foreign Currency Forward Contracts [Member] |
USD ($) |
EUR (€) |
JPY (¥) |
||
|---|---|---|---|---|---|
| ProShares Ultra Euro [Member] | Euro Contract [Member] | Contracts to Purchase [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Unrealized Appreciation (Depreciation)/Value | [1] | $ (14,459) | |||
| ProShares Ultra Euro [Member] | Euro Contract [Member] | Contracts to Purchase [Member] | Goldman Sachs International [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Settlement Date | [1] | Jul. 10, 2020 | |||
| Contract to Purchase | [1] | $ 3,866,850 | € 3,440,921 | ||
| Unrealized Appreciation (Depreciation)/Value | [1] | $ 3,899 | |||
| ProShares Ultra Euro [Member] | Euro Contract [Member] | Contracts to Purchase [Member] | UBS AG [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Settlement Date | [1] | Jul. 10, 2020 | |||
| Contract to Purchase | [1] | $ 4,517,946 | 4,020,302 | ||
| Unrealized Appreciation (Depreciation)/Value | [1] | (18,358) | |||
| ProShares Ultra Euro [Member] | Euro Contract [Member] | Contracts to Sell [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Unrealized Appreciation (Depreciation)/Value | [1] | $ 530 | |||
| ProShares Ultra Euro [Member] | Euro Contract [Member] | Contracts to Sell [Member] | UBS AG [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Settlement Date | [1] | Jul. 10, 2020 | |||
| Contract to Sell | [1] | $ (228,129) | (203,000) | ||
| Unrealized Appreciation (Depreciation)/Value | [1] | 530 | |||
| ProShares Ultra Yen [Member] | Yen Contract [Member] | Contracts to Purchase [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Unrealized Appreciation (Depreciation)/Value | [1] | $ 39,430 | |||
| ProShares Ultra Yen [Member] | Yen Contract [Member] | Contracts to Purchase [Member] | Goldman Sachs International [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Settlement Date | [1] | Jul. 10, 2020 | |||
| Contract to Purchase | [1] | $ 3,112,428 | ¥ 336,014,517 | ||
| Unrealized Appreciation (Depreciation)/Value | [1] | $ 22,496 | |||
| ProShares Ultra Yen [Member] | Yen Contract [Member] | Contracts to Purchase [Member] | UBS AG [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Settlement Date | [1] | Jul. 10, 2020 | |||
| Contract to Purchase | [1] | $ 2,546,639 | 274,932,756 | ||
| Unrealized Appreciation (Depreciation)/Value | [1] | 16,934 | |||
| ProShares Ultra Yen [Member] | Yen Contract [Member] | Contracts to Sell [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Unrealized Appreciation (Depreciation)/Value | [1] | $ (331) | |||
| ProShares Ultra Yen [Member] | Yen Contract [Member] | Contracts to Sell [Member] | UBS AG [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Settlement Date | [1] | Jul. 10, 2020 | |||
| Contract to Sell | [1] | $ (113,377) | (12,240,000) | ||
| Unrealized Appreciation (Depreciation)/Value | [1] | (331) | |||
| ProShares UltraShort Euro [Member] | Euro Contract [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Unrealized Appreciation (Depreciation)/Value | [1] | (324,954) | |||
| ProShares UltraShort Euro [Member] | Euro Contract [Member] | Contracts to Purchase [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Unrealized Appreciation (Depreciation)/Value | [1] | $ (167,059) | |||
| ProShares UltraShort Euro [Member] | Euro Contract [Member] | Contracts to Purchase [Member] | UBS AG [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Settlement Date | [1] | Jul. 10, 2020 | |||
| Contract to Purchase | [1] | $ 27,476,495 | 24,450,000 | ||
| Unrealized Appreciation (Depreciation)/Value | [1] | (167,059) | |||
| ProShares UltraShort Euro [Member] | Euro Contract [Member] | Contracts to Sell [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Unrealized Appreciation (Depreciation)/Value | [1] | $ (157,895) | |||
| ProShares UltraShort Euro [Member] | Euro Contract [Member] | Contracts to Sell [Member] | Goldman Sachs International [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Settlement Date | [1] | Jul. 10, 2020 | |||
| Contract to Sell | [1] | $ (47,229,524) | (42,027,263) | ||
| Unrealized Appreciation (Depreciation)/Value | [1] | $ (47,617) | |||
| ProShares UltraShort Euro [Member] | Euro Contract [Member] | Contracts to Sell [Member] | UBS AG [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Settlement Date | [1] | Jul. 10, 2020 | |||
| Contract to Sell | [1] | $ (138,495,242) | € (123,240,199) | ||
| Unrealized Appreciation (Depreciation)/Value | [1] | (110,278) | |||
| ProShares UltraShort Yen [Member] | Yen Contract [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Unrealized Appreciation (Depreciation)/Value | [1] | (532,990) | |||
| ProShares UltraShort Yen [Member] | Yen Contract [Member] | Contracts to Purchase [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Unrealized Appreciation (Depreciation)/Value | [1] | $ (28,043) | |||
| ProShares UltraShort Yen [Member] | Yen Contract [Member] | Contracts to Purchase [Member] | UBS AG [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Settlement Date | [1] | Jul. 10, 2020 | |||
| Contract to Purchase | [1] | $ 6,186,236 | 667,860,000 | ||
| Unrealized Appreciation (Depreciation)/Value | [1] | (28,043) | |||
| ProShares UltraShort Yen [Member] | Yen Contract [Member] | Contracts to Sell [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Unrealized Appreciation (Depreciation)/Value | [1] | $ (504,947) | |||
| ProShares UltraShort Yen [Member] | Yen Contract [Member] | Contracts to Sell [Member] | Goldman Sachs International [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Settlement Date | [1] | Jul. 10, 2020 | |||
| Contract to Sell | [1] | $ (17,491,249) | (1,888,338,165) | ||
| Unrealized Appreciation (Depreciation)/Value | [1] | (126,422) | |||
| ProShares UltraShort Yen [Member] | Yen Contract [Member] | Contracts to Sell [Member] | UBS AG [Member] | |||||
| Schedule of Investments [Line Items] | |||||
| Contract to Sell | [1] | (48,256,671) | ¥ (5,209,742,875) | ||
| Unrealized Appreciation (Depreciation)/Value | [1] | $ (378,525) | |||
| |||||
Organization - Additional Information (Detail) |
6 Months Ended |
|---|---|
|
Jun. 30, 2020
USD ($)
Trust
shares
| |
| Subsidiary, Sale of Stock [Line Items] | |
| Number of series of Trust | Trust | 18 |
| Period for expected multiple returns | 1 day |
| ProShares UltraShort Bloomberg Crude Oil [Member] | Private Placement [Member] | |
| Subsidiary, Sale of Stock [Line Items] | |
| Share issued, shares | shares | 14 |
| Shares issued, value | $ | $ 350 |
| ProShares UltraShort Gold [Member] | Private Placement [Member] | |
| Subsidiary, Sale of Stock [Line Items] | |
| Share issued, shares | shares | 14 |
| Shares issued, value | $ | $ 350 |
| ProShares UltraShort Silver [Member] | Private Placement [Member] | |
| Subsidiary, Sale of Stock [Line Items] | |
| Share issued, shares | shares | 14 |
| Shares issued, value | $ | $ 350 |
| ProShares UltraShort Euro [Member] | Private Placement [Member] | |
| Subsidiary, Sale of Stock [Line Items] | |
| Share issued, shares | shares | 14 |
| Shares issued, value | $ | $ 350 |
| ProShares UltraShort Yen [Member] | Private Placement [Member] | |
| Subsidiary, Sale of Stock [Line Items] | |
| Share issued, shares | shares | 14 |
| Shares issued, value | $ | $ 350 |
| ProShares Ultra Bloomberg Crude Oil [Member] | Private Placement [Member] | |
| Subsidiary, Sale of Stock [Line Items] | |
| Share issued, shares | shares | 14 |
| Shares issued, value | $ | $ 350 |
| ProShares Ultra Gold [Member] | Private Placement [Member] | |
| Subsidiary, Sale of Stock [Line Items] | |
| Share issued, shares | shares | 14 |
| Shares issued, value | $ | $ 350 |
| ProShares Ultra Silver [Member] | Private Placement [Member] | |
| Subsidiary, Sale of Stock [Line Items] | |
| Share issued, shares | shares | 14 |
| Shares issued, value | $ | $ 350 |
| ProShares Ultra Euro [Member] | Private Placement [Member] | |
| Subsidiary, Sale of Stock [Line Items] | |
| Share issued, shares | shares | 14 |
| Shares issued, value | $ | $ 350 |
| ProShares Ultra Yen [Member] | Private Placement [Member] | |
| Subsidiary, Sale of Stock [Line Items] | |
| Share issued, shares | shares | 14 |
| Shares issued, value | $ | $ 350 |
Organization - Schedule of Share Splits and Reverse Share Splits (Detail) - April 20, 2020 Reverse Share Split [Member] |
6 Months Ended |
|---|---|
Jun. 30, 2020 | |
| Proshares Ultra Bloomberg Crude Oil [Member] | |
| Organization [Line Items] | |
| Execution Date (Prior to Opening of Trading) | Apr. 20, 2020 |
| Type of Split | 1-for-25 reverse Share split |
| Date Trading Resumed at Post- Split Price | Apr. 21, 2020 |
| ProShares Ultra Bloomberg Natural Gas [Member] | |
| Organization [Line Items] | |
| Execution Date (Prior to Opening of Trading) | Apr. 20, 2020 |
| Type of Split | 1-for-10 reverse Share split |
| Date Trading Resumed at Post- Split Price | Apr. 21, 2020 |
Significant Accounting Policies - Cut-off Times and Times of Calculation of Funds' Final Net Asset Value for Creation and Redemption of Fund Shares (Detail) |
6 Months Ended | |||
|---|---|---|---|---|
Jun. 30, 2020 | ||||
| ProShares UltraShort Silver [Member] | ||||
| Net Asset Value [Line Items] | ||||
| Create/Redeem Cut-off | 1:00 p.m. | [1] | ||
| NAV Calculation Time | 1:25 p.m. | |||
| NAV Calculation Date | June 30, 2020 | |||
| ProShares UltraShort Gold [Member] | ||||
| Net Asset Value [Line Items] | ||||
| Create/Redeem Cut-off | 1:00 p.m. | [1] | ||
| NAV Calculation Time | 1:30 p.m. | |||
| NAV Calculation Date | June 30, 2020 | |||
| ProShares Ultra Bloomberg Crude Oil [Member] | ||||
| Net Asset Value [Line Items] | ||||
| Create/Redeem Cut-off | 2:00 p.m. | [1] | ||
| NAV Calculation Time | 2:30 p.m. | |||
| NAV Calculation Date | June 30, 2020 | |||
| ProShares Ultra Bloomberg Natural Gas [Member] | ||||
| Net Asset Value [Line Items] | ||||
| Create/Redeem Cut-off | 2:00 p.m. | [1] | ||
| NAV Calculation Time | 2:30 p.m. | |||
| NAV Calculation Date | June 30, 2020 | |||
| ProShares UltraShort Australian Dollar [Member] | ||||
| Net Asset Value [Line Items] | ||||
| Create/Redeem Cut-off | 3:00 p.m. | [1] | ||
| NAV Calculation Time | 4:00 p.m. | |||
| NAV Calculation Date | June 30, 2020 | |||
| ProShares Ultra Euro [Member] | ||||
| Net Asset Value [Line Items] | ||||
| Create/Redeem Cut-off | 3:00 p.m. | [1] | ||
| NAV Calculation Time | 4:00 p.m. | |||
| NAV Calculation Date | June 30, 2020 | |||
| ProShares Ultra Yen [Member] | ||||
| Net Asset Value [Line Items] | ||||
| Create/Redeem Cut-off | 3:00 p.m. | [1] | ||
| NAV Calculation Time | 4:00 p.m. | |||
| NAV Calculation Date | June 30, 2020 | |||
| ProShares Short VIX Short-Term Futures ETF [Member] | ||||
| Net Asset Value [Line Items] | ||||
| Create/Redeem Cut-off | 2:00 p.m. | [1] | ||
| NAV Calculation Time | 4:15 p.m. | |||
| NAV Calculation Date | June 30, 2020 | |||
| ProShares VIX Mid-Term Futures ETF [Member] | ||||
| Net Asset Value [Line Items] | ||||
| Create/Redeem Cut-off | 2:00 p.m. | [1] | ||
| NAV Calculation Time | 4:15 p.m. | |||
| NAV Calculation Date | June 30, 2020 | |||
| ||||
Significant Accounting Policies - Valuation of Investments using Fair Value Hierarchy (Detail) - USD ($) |
Jun. 30, 2020 |
Dec. 31, 2019 |
||
|---|---|---|---|---|
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | $ 1,049,230,342 | $ 1,076,360,443 | ||
| ProShares Short Euro [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 32,520 | 731,805 | ||
| ProShares Short VIX Short-Term Futures ETF [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 133,986,779 | 67,184,308 | ||
| ProShares Ultra Bloomberg Crude Oil [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 361,351,288 | 222,695,628 | ||
| ProShares Ultra Bloomberg Natural Gas [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 13,763,274 | 24,878,086 | ||
| ProShares Ultra Euro [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | (13,929) | 4,080,409 | ||
| ProShares Ultra Gold [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 115,923,039 | 74,316,772 | ||
| ProShares Ultra Silver [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 126,091,307 | 166,404,548 | ||
| ProShares Ultra VIX Short-Term Futures ETF [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 101,408,230 | 133,142,697 | ||
| ProShares Ultra Yen [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 39,099 | 1,797,575 | ||
| Proshares UltraPro 3X Crude Oil ETF [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 54,459,660 | |||
| ProShares UltraPro 3X Short Crude Oil ETF [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 49,017,076 | |||
| ProShares UltraShort Australian Dollar [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 161,350 | 3,707,474 | ||
| ProShares UltraShort Bloomberg Crude Oil [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | (5,769,826) | 55,046,663 | ||
| ProShares UltraShort Bloomberg Natural Gas [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 3,233,520 | 5,827,205 | ||
| ProShares UltraShort Euro [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 74,662,954 | 76,339,680 | ||
| ProShares UltraShort Gold [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 6,474,057 | 10,790,813 | ||
| ProShares UltraShort Silver [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | (598,996) | 7,126,782 | ||
| ProShares UltraShort Yen [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 20,465,057 | 25,638,722 | ||
| ProShares VIX Mid-Term Futures ETF [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 34,384,565 | 11,699,734 | ||
| ProShares VIX Short-Term Futures ETF [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 63,636,054 | 81,474,806 | ||
| Level I - Quoted Prices [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 651,893,780 | 1,084,925,128 | ||
| Level I - Quoted Prices [Member] | Futures Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | [1] | 376,161,528 | (51,979,952) | |
| Level I - Quoted Prices [Member] | ProShares Short Euro [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 745,805 | |||
| Level I - Quoted Prices [Member] | ProShares Short Euro [Member] | Futures Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | [1] | 32,520 | (14,000) | |
| Level I - Quoted Prices [Member] | ProShares Short VIX Short-Term Futures ETF [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 124,974,901 | 56,929,436 | ||
| Level I - Quoted Prices [Member] | ProShares Short VIX Short-Term Futures ETF [Member] | Futures Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | [1] | 9,011,878 | 10,254,872 | |
| Level I - Quoted Prices [Member] | ProShares Ultra Bloomberg Crude Oil [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 0 | 200,115,463 | ||
| Level I - Quoted Prices [Member] | ProShares Ultra Bloomberg Crude Oil [Member] | Futures Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | [1] | 351,312,965 | 765,575 | |
| Level I - Quoted Prices [Member] | ProShares Ultra Bloomberg Natural Gas [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 15,997,708 | 27,530,314 | ||
| Level I - Quoted Prices [Member] | ProShares Ultra Bloomberg Natural Gas [Member] | Futures Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | [1] | (2,234,434) | (2,652,228) | |
| Level I - Quoted Prices [Member] | ProShares Ultra Euro [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 3,970,412 | |||
| Level I - Quoted Prices [Member] | ProShares Ultra Gold [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 100,983,863 | 66,177,998 | ||
| Level I - Quoted Prices [Member] | ProShares Ultra Gold [Member] | Futures Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | [1] | 4,288,184 | 2,248,514 | |
| Level I - Quoted Prices [Member] | ProShares Ultra Silver [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 110,982,105 | 135,544,101 | ||
| Level I - Quoted Prices [Member] | ProShares Ultra Silver [Member] | Futures Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | [1] | 6,106,569 | 5,724,549 | |
| Level I - Quoted Prices [Member] | ProShares Ultra VIX Short-Term Futures ETF [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 96,985,173 | 179,749,262 | ||
| Level I - Quoted Prices [Member] | ProShares Ultra VIX Short-Term Futures ETF [Member] | Futures Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | [1] | 8,382,719 | (46,396,781) | |
| Level I - Quoted Prices [Member] | ProShares Ultra Yen [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 1,808,104 | |||
| Level I - Quoted Prices [Member] | Proshares UltraPro 3X Crude Oil ETF [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 47,193,110 | |||
| Level I - Quoted Prices [Member] | Proshares UltraPro 3X Crude Oil ETF [Member] | Futures Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | [1] | 7,266,550 | ||
| Level I - Quoted Prices [Member] | ProShares UltraPro 3X Short Crude Oil ETF [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 57,375,132 | |||
| Level I - Quoted Prices [Member] | ProShares UltraPro 3X Short Crude Oil ETF [Member] | Futures Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | [1] | (8,358,056) | ||
| Level I - Quoted Prices [Member] | ProShares UltraShort Australian Dollar [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 3,931,474 | |||
| Level I - Quoted Prices [Member] | ProShares UltraShort Australian Dollar [Member] | Futures Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | [1] | 161,350 | (224,000) | |
| Level I - Quoted Prices [Member] | ProShares UltraShort Bloomberg Crude Oil [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 0 | 62,199,283 | ||
| Level I - Quoted Prices [Member] | ProShares UltraShort Bloomberg Crude Oil [Member] | Futures Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | [1] | (3,674,148) | (3,118,689) | |
| Level I - Quoted Prices [Member] | ProShares UltraShort Bloomberg Natural Gas [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 1,999,892 | 5,154,876 | ||
| Level I - Quoted Prices [Member] | ProShares UltraShort Bloomberg Natural Gas [Member] | Futures Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | [1] | 1,233,628 | 672,329 | |
| Level I - Quoted Prices [Member] | ProShares UltraShort Euro [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 74,987,908 | 78,590,100 | ||
| Level I - Quoted Prices [Member] | ProShares UltraShort Gold [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 7,999,566 | 12,355,192 | ||
| Level I - Quoted Prices [Member] | ProShares UltraShort Gold [Member] | Futures Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | [1] | (280,540) | (391,570) | |
| Level I - Quoted Prices [Member] | ProShares UltraShort Silver [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 0 | 9,162,867 | ||
| Level I - Quoted Prices [Member] | ProShares UltraShort Silver [Member] | Futures Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | [1] | (215,165) | (82,181) | |
| Level I - Quoted Prices [Member] | ProShares UltraShort Yen [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 20,998,047 | 25,542,823 | ||
| Level I - Quoted Prices [Member] | ProShares VIX Mid-Term Futures ETF [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 32,994,750 | 13,980,559 | ||
| Level I - Quoted Prices [Member] | ProShares VIX Mid-Term Futures ETF [Member] | Futures Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | [1] | 1,389,815 | (2,280,825) | |
| Level I - Quoted Prices [Member] | ProShares VIX Short-Term Futures ETF [Member] | Short-Term U.S. Government and Agencies [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 62,989,867 | 96,868,817 | ||
| Level I - Quoted Prices [Member] | ProShares VIX Short-Term Futures ETF [Member] | Futures Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | [1] | 646,187 | (15,394,011) | |
| Level II - Other Significant Observable Inputs [Member] | Foreign Currency Forward Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | (832,774) | (2,055,053) | ||
| Level II - Other Significant Observable Inputs [Member] | Swap Agreements [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 22,007,808 | 45,470,320 | ||
| Level II - Other Significant Observable Inputs [Member] | ProShares Ultra Bloomberg Crude Oil [Member] | Swap Agreements [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 10,038,323 | 21,814,590 | ||
| Level II - Other Significant Observable Inputs [Member] | ProShares Ultra Euro [Member] | Foreign Currency Forward Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | (13,929) | 109,997 | ||
| Level II - Other Significant Observable Inputs [Member] | ProShares Ultra Gold [Member] | Swap Agreements [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 10,650,992 | 5,890,260 | ||
| Level II - Other Significant Observable Inputs [Member] | ProShares Ultra Silver [Member] | Swap Agreements [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 9,002,633 | 25,135,898 | ||
| Level II - Other Significant Observable Inputs [Member] | ProShares Ultra VIX Short-Term Futures ETF [Member] | Swap Agreements [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | (3,959,662) | (209,784) | ||
| Level II - Other Significant Observable Inputs [Member] | ProShares Ultra Yen [Member] | Foreign Currency Forward Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | 39,099 | (10,529) | ||
| Level II - Other Significant Observable Inputs [Member] | ProShares UltraShort Bloomberg Crude Oil [Member] | Swap Agreements [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | (2,095,678) | (4,033,931) | ||
| Level II - Other Significant Observable Inputs [Member] | ProShares UltraShort Euro [Member] | Foreign Currency Forward Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | (324,954) | (2,250,420) | ||
| Level II - Other Significant Observable Inputs [Member] | ProShares UltraShort Gold [Member] | Swap Agreements [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | (1,244,969) | (1,172,809) | ||
| Level II - Other Significant Observable Inputs [Member] | ProShares UltraShort Silver [Member] | Swap Agreements [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | (383,831) | (1,953,904) | ||
| Level II - Other Significant Observable Inputs [Member] | ProShares UltraShort Yen [Member] | Foreign Currency Forward Contracts [Member] | ||||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
| Investments, fair value disclosure | $ (532,990) | $ 95,899 | ||
| ||||
Significant Accounting Policies - Additional Information (Detail) |
6 Months Ended |
|---|---|
Jun. 30, 2020 | |
| Minimum [Member] | Matching VIX Funds [Member] | |
| Significant Accounting Policies [Line Items] | |
| Percentage of brokerage commissions exceed variable create/redeem fees | 0.02% |
Investments - Fair Value of Derivative Instruments (Detail) - USD ($) |
Jun. 30, 2020 |
Dec. 31, 2019 |
|||
|---|---|---|---|---|---|
| Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative asset not designated as hedging instrument, Unrealized Appreciation | [1] | $ 447,935,356 | $ 80,270,931 | ||
| Derivative liability not accounted as hedging instrument, Unrealized Depreciation | [1] | 78,858,502 | 88,835,616 | ||
| VIX Futures Contracts [Member] | Payable on open futures contracts, unrealized depreciation on swap agreements [Member] | ProShares Short VIX Short-Term Futures ETF [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative liability not accounted as hedging instrument, Unrealized Depreciation | [1] | 170,017 | |||
| VIX Futures Contracts [Member] | Payable on open futures contracts, unrealized depreciation on swap agreements [Member] | ProShares Ultra VIX Short-Term Futures ETF [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative liability not accounted as hedging instrument, Unrealized Depreciation | [1] | 65,579,015 | 46,606,565 | ||
| VIX Futures Contracts [Member] | Payable on open futures contracts, unrealized depreciation on swap agreements [Member] | ProShares VIX Mid-Term Futures ETF [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative liability not accounted as hedging instrument, Unrealized Depreciation | [1] | 229,970 | 2,286,955 | ||
| VIX Futures Contracts [Member] | Payable on open futures contracts, unrealized depreciation on swap agreements [Member] | ProShares VIX Short-Term Futures ETF [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative liability not accounted as hedging instrument, Unrealized Depreciation | [1] | 3,581,409 | 15,394,011 | ||
| VIX Futures Contracts [Member] | Receivables on open futures contracts, unrealized appreciation on swap agreements [Member] | ProShares Short VIX Short-Term Futures ETF [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative asset not designated as hedging instrument, Unrealized Appreciation | [1] | 9,011,878 | 10,424,889 | ||
| VIX Futures Contracts [Member] | Receivables on open futures contracts, unrealized appreciation on swap agreements [Member] | ProShares Ultra VIX Short-Term Futures ETF [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative asset not designated as hedging instrument, Unrealized Appreciation | [1] | 39,494,012 | |||
| VIX Futures Contracts [Member] | Receivables on open futures contracts, unrealized appreciation on swap agreements [Member] | ProShares VIX Mid-Term Futures ETF [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative asset not designated as hedging instrument, Unrealized Appreciation | [1] | 1,619,785 | 6,130 | ||
| VIX Futures Contracts [Member] | Receivables on open futures contracts, unrealized appreciation on swap agreements [Member] | ProShares VIX Short-Term Futures ETF [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative asset not designated as hedging instrument, Unrealized Appreciation | [1] | 4,227,596 | |||
| Commodity Contracts [Member] | Payable on open futures contracts and/or unrealized depreciation on swap agreements [Member] | ProShares UltraShort Bloomberg Crude Oil [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative liability not accounted as hedging instrument, Unrealized Depreciation | [1] | 6,111,114 | 7,152,620 | ||
| Commodity Contracts [Member] | Payable on open futures contracts and/or unrealized depreciation on swap agreements [Member] | ProShares UltraShort Gold [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative liability not accounted as hedging instrument, Unrealized Depreciation | [1] | 1,525,509 | 1,564,379 | ||
| Commodity Contracts [Member] | Payable on open futures contracts and/or unrealized depreciation on swap agreements [Member] | ProShares UltraShort Silver [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative liability not accounted as hedging instrument, Unrealized Depreciation | [1] | 598,996 | 2,036,085 | ||
| Commodity Contracts [Member] | Payable on open futures contracts and/or unrealized depreciation on swap agreements [Member] | ProShares UltraPro 3X Short Crude Oil ETF [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative liability not accounted as hedging instrument, Unrealized Depreciation | [1] | 8,358,056 | |||
| Commodity Contracts [Member] | Payable on open futures contracts and/or unrealized depreciation on swap agreements [Member] | ProShares Ultra Bloomberg Crude Oil [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative liability not accounted as hedging instrument, Unrealized Depreciation | [1] | 294,368 | |||
| Commodity Contracts [Member] | Payable on open futures contracts and/or unrealized depreciation on swap agreements [Member] | ProShares Ultra Bloomberg Natural Gas [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative liability not accounted as hedging instrument, Unrealized Depreciation | [1] | 0 | 2,652,228 | ||
| Commodity Contracts [Member] | Receivables on open futures contracts and/or unrealized appreciation on swap agreements [Member] | ProShares UltraShort Bloomberg Crude Oil [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative asset not designated as hedging instrument, Unrealized Appreciation | [1] | 341,288 | |||
| Commodity Contracts [Member] | Receivables on open futures contracts and/or unrealized appreciation on swap agreements [Member] | ProShares UltraShort Bloomberg Natural Gas [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative asset not designated as hedging instrument, Unrealized Appreciation | [1] | 1,233,628 | 672,329 | ||
| Commodity Contracts [Member] | Receivables on open futures contracts and/or unrealized appreciation on swap agreements [Member] | Proshares UltraPro 3X Crude Oil ETF [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative asset not designated as hedging instrument, Unrealized Appreciation | [1] | 7,266,550 | |||
| Commodity Contracts [Member] | Receivables on open futures contracts and/or unrealized appreciation on swap agreements [Member] | ProShares Ultra Bloomberg Crude Oil [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative asset not designated as hedging instrument, Unrealized Appreciation | [1] | 361,645,656 | 22,580,165 | ||
| Commodity Contracts [Member] | Receivables on open futures contracts and/or unrealized appreciation on swap agreements [Member] | ProShares Ultra Bloomberg Natural Gas [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative asset not designated as hedging instrument, Unrealized Appreciation | 1,683,304 | ||||
| Commodity Contracts [Member] | Receivables on open futures contracts and/or unrealized appreciation on swap agreements [Member] | ProShares Ultra Gold [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative asset not designated as hedging instrument, Unrealized Appreciation | [1] | 14,939,176 | 8,138,774 | ||
| Commodity Contracts [Member] | Receivables on open futures contracts and/or unrealized appreciation on swap agreements [Member] | ProShares Ultra Silver [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative asset not designated as hedging instrument, Unrealized Appreciation | [1] | 13,666,553 | 30,860,447 | ||
| Foreign Exchange Contracts [Member] | Unrealized Depreciation on Foreign Currency Forward Contracts, and/or Payable on Open Futures Contracts [Member] | ProShares Short Euro [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative liability not accounted as hedging instrument, Unrealized Depreciation | [1] | 14,000 | |||
| Foreign Exchange Contracts [Member] | Unrealized Depreciation on Foreign Currency Forward Contracts, and/or Payable on Open Futures Contracts [Member] | ProShares Ultra Euro [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative liability not accounted as hedging instrument, Unrealized Depreciation | 14,459 | ||||
| Foreign Exchange Contracts [Member] | Unrealized Depreciation on Foreign Currency Forward Contracts, and/or Payable on Open Futures Contracts [Member] | ProShares UltraShort Australian Dollar [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative liability not accounted as hedging instrument, Unrealized Depreciation | 65,387 | 224,000 | [1] | ||
| Foreign Exchange Contracts [Member] | Unrealized Depreciation on Foreign Currency Forward Contracts, and/or Payable on Open Futures Contracts [Member] | ProShares Ultra Yen [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative liability not accounted as hedging instrument, Unrealized Depreciation | 331 | 10,529 | |||
| Foreign Exchange Contracts [Member] | Unrealized Depreciation on Foreign Currency Forward Contracts, and/or Payable on Open Futures Contracts [Member] | ProShares UltraShort Euro [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative liability not accounted as hedging instrument, Unrealized Depreciation | 324,954 | 2,366,171 | |||
| Foreign Exchange Contracts [Member] | Unrealized Depreciation on Foreign Currency Forward Contracts, and/or Payable on Open Futures Contracts [Member] | ProShares UltraShort Yen [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative liability not accounted as hedging instrument, Unrealized Depreciation | 532,990 | ||||
| Foreign Exchange Contracts [Member] | Unrealized Appreciation on Foreign Currency Forward Contracts, and/or Receivables on Open Futures Contracts [Member] | ProShares Short Euro [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative asset not designated as hedging instrument, Unrealized Appreciation | [1] | 32,520 | |||
| Foreign Exchange Contracts [Member] | Unrealized Appreciation on Foreign Currency Forward Contracts, and/or Receivables on Open Futures Contracts [Member] | ProShares Ultra Euro [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative asset not designated as hedging instrument, Unrealized Appreciation | 530 | 109,997 | |||
| Foreign Exchange Contracts [Member] | Unrealized Appreciation on Foreign Currency Forward Contracts, and/or Receivables on Open Futures Contracts [Member] | ProShares UltraShort Australian Dollar [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative asset not designated as hedging instrument, Unrealized Appreciation | [1] | 0 | |||
| Foreign Exchange Contracts [Member] | Unrealized Appreciation on Foreign Currency Forward Contracts, and/or Receivables on Open Futures Contracts [Member] | ProShares Ultra Yen [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative asset not designated as hedging instrument, Unrealized Appreciation | $ 39,430 | ||||
| Foreign Exchange Contracts [Member] | Unrealized Appreciation on Foreign Currency Forward Contracts, and/or Receivables on Open Futures Contracts [Member] | ProShares UltraShort Euro [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative asset not designated as hedging instrument, Unrealized Appreciation | 115,751 | ||||
| Foreign Exchange Contracts [Member] | Unrealized Appreciation on Foreign Currency Forward Contracts, and/or Receivables on Open Futures Contracts [Member] | ProShares UltraShort Yen [Member] | Not Designated as Hedging Instrument [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative asset not designated as hedging instrument, Unrealized Appreciation | $ 95,899 | ||||
| |||||
Investments - Effect of Derivative Instruments on Statements of Operations (Detail) - USD ($) |
3 Months Ended | 6 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | [1] | $ (723,732,091) | $ (79,154,464) | $ (696,944,903) | $ (171,064,815) | ||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | [1] | 464,253,126 | (37,585,073) | 405,830,497 | 61,844,650 | ||||
| ProShares VIX Short-Term Futures ETF [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (845,717) | (11,286,520) | 324,892,071 | (66,193,104) | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (51,868,970) | (11,796,301) | 16,033,274 | (33,080,532) | |||||
| ProShares VIX Mid-Term Futures ETF [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | 13,196,415 | (2,853,263) | 20,952,940 | (7,055,283) | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (12,313,533) | 2,001,125 | 3,669,337 | (4,425,324) | |||||
| ProShares Short VIX Short-Term Futures ETF [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | 54,615,005 | 11,427,588 | (189,685,599) | 70,532,942 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (22,301,329) | 4,568,486 | (1,245,671) | 27,139,946 | |||||
| ProShares Ultra VIX Short-Term Futures ETF [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (107,880,791) | (54,976,168) | 618,204,440 | (250,199,509) | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (125,500,879) | (39,563,092) | 51,016,036 | (78,621,075) | |||||
| ProShares UltraShort Bloomberg Crude Oil [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (6,947,347) | 10,124,322 | 44,726,655 | 969,163 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (75,201,725) | (2,543,494) | 1,379,632 | (35,461,728) | |||||
| ProShares UltraShort Bloomberg Natural Gas [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | 5,236,091 | 3,449,841 | 10,862,268 | 14,769,166 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (2,774,639) | (546,185) | 560,972 | (10,862,796) | |||||
| ProShares UltraShort Gold [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (2,089,271) | (1,900,735) | (8,020,153) | (3,069,639) | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (2,638,931) | (1,357,012) | 38,043 | (478,986) | |||||
| ProShares UltraShort Silver [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (3,877,739) | 469,531 | (3,035,499) | (920,611) | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (2,754,071) | (1,066,289) | 1,436,385 | 1,069,178 | |||||
| ProShares Ultra Bloomberg Crude Oil [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (671,420,708) | (25,907,850) | (1,176,974,505) | 50,615,554 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | 661,178,846 | 14,161,522 | 338,757,185 | 157,560,555 | |||||
| ProShares Ultra Bloomberg Natural Gas [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (16,111,238) | (7,975,969) | (38,929,789) | (21,277,866) | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | 4,853,272 | (670,693) | 416,235 | 9,674,305 | |||||
| ProShares Ultra Gold [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | 4,365,328 | 3,488,357 | 25,863,384 | 7,580,942 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | 25,893,012 | 8,697,049 | 6,795,652 | 4,884,290 | |||||
| ProShares Ultra Silver [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | 11,386,313 | (8,015,752) | 7,688,659 | 5,286,170 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | 69,302,060 | 8,501,389 | (15,759,771) | (18,388,937) | |||||
| ProShares Short Euro [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (20,020) | 76,518 | (38,658) | 223,624 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (20,804) | (234,419) | 46,490 | (30,548) | |||||
| ProShares UltraShort Australian Dollar [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (1,037,904) | 250,116 | (366,954) | 512,861 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (562,236) | (74,593) | 385,144 | (651,797) | |||||
| ProShares UltraShort Euro [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (2,285,868) | 1,947,370 | (1,238,585) | 5,276,612 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (1,269,683) | (3,843,749) | 1,920,568 | 581,064 | |||||
| ProShares UltraShort Yen [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | 110,748 | (2,600,562) | (395,772) | (2,944,042) | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | 66,461 | 283,682 | (630,608) | 2,717,362 | |||||
| ProShares Ultra Euro [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (18,635) | (132,599) | (71,903) | (359,872) | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | 97,408 | 208,577 | (124,134) | (16,908) | |||||
| ProShares Ultra Yen [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (106,753) | 171,283 | (115,236) | 93,976 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | 68,867 | (16,451) | 49,554 | (129,048) | |||||
| Not Designated as Hedging Instrument [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (723,852,555) | (79,163,151) | (697,241,801) | (171,073,749) | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | 465,284,993 | (37,888,351) | 405,901,247 | 61,575,528 | |||||
| Not Designated as Hedging Instrument [Member] | VIX Futures Contracts [Member] | Net Realized Gain (Loss) on Futures Contracts/Changes in Unrealized Appreciation (Depreciation) on Futures Contracts [Member] | ProShares VIX Short-Term Futures ETF [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (845,717) | (11,288,249) | 324,892,071 | (66,194,833) | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (51,742,832) | (11,833,396) | 16,040,198 | (33,113,187) | |||||
| Not Designated as Hedging Instrument [Member] | VIX Futures Contracts [Member] | Net Realized Gain (Loss) on Futures Contracts/Changes in Unrealized Appreciation (Depreciation) on Futures Contracts [Member] | ProShares VIX Mid-Term Futures ETF [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | 13,196,415 | (2,853,271) | 20,952,940 | (7,055,291) | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (12,292,490) | 1,993,991 | 3,670,640 | (4,431,788) | |||||
| Not Designated as Hedging Instrument [Member] | VIX Futures Contracts [Member] | Net Realized Gain (Loss) on Futures Contracts/Changes in Unrealized Appreciation (Depreciation) on Futures Contracts [Member] | ProShares Short VIX Short-Term Futures ETF [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | 54,615,763 | 11,427,596 | (189,684,841) | 70,532,950 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (22,216,796) | 4,538,343 | (1,242,994) | 27,115,163 | |||||
| Not Designated as Hedging Instrument [Member] | VIX Futures Contracts [Member] | Net Realized Gain (Loss) on Futures Contracts/Changes in Unrealized Appreciation (Depreciation) on Futures Contracts [Member] | ProShares Ultra VIX Short-Term Futures ETF [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (107,880,791) | (54,975,818) | 618,204,440 | (250,199,159) | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (125,352,239) | (39,603,173) | 51,029,622 | (78,653,116) | |||||
| Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Net realized gain (loss) on futures contracts and swap agreements/changes in unrealized appreciation (depreciation) on futures contracts and swap agreements [Member] | ProShares UltraShort Bloomberg Crude Oil [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (6,947,347) | 10,123,122 | 44,726,675 | 967,963 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (75,195,436) | (2,551,794) | 1,382,794 | (35,468,826) | |||||
| Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Net realized gain (loss) on futures contracts and swap agreements/changes in unrealized appreciation (depreciation) on futures contracts and swap agreements [Member] | ProShares UltraShort Bloomberg Natural Gas [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | 5,236,641 | 3,449,841 | 10,862,818 | 14,769,166 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (2,773,687) | (546,368) | 561,299 | (10,862,913) | |||||
| Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Net realized gain (loss) on futures contracts and swap agreements/changes in unrealized appreciation (depreciation) on futures contracts and swap agreements [Member] | ProShares UltraShort Gold [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (2,089,271) | (1,901,072) | (8,020,153) | (3,069,976) | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (2,636,926) | (1,358,879) | 38,870 | (480,966) | |||||
| Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Net realized gain (loss) on futures contracts and swap agreements/changes in unrealized appreciation (depreciation) on futures contracts and swap agreements [Member] | ProShares UltraShort Silver [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (3,877,739) | 469,453 | (3,035,499) | (920,689) | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (2,753,182) | (1,068,581) | 1,437,089 | 1,067,064 | |||||
| Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Net realized gain (loss) on futures contracts and swap agreements/changes in unrealized appreciation (depreciation) on futures contracts and swap agreements [Member] | ProShares Ultra Bloomberg Crude Oil [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (671,542,557) | (25,911,476) | (1,177,133,823) | 50,611,681 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | 661,547,673 | 14,087,183 | 338,771,123 | 157,491,546 | |||||
| Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Net realized gain (loss) on futures contracts and swap agreements/changes in unrealized appreciation (depreciation) on futures contracts and swap agreements [Member] | ProShares Ultra Bloomberg Natural Gas [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (16,111,161) | (7,976,053) | (38,930,766) | (21,277,891) | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | 4,884,617 | (671,150) | 417,794 | 9,673,790 | |||||
| Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Net realized gain (loss) on futures contracts and swap agreements/changes in unrealized appreciation (depreciation) on futures contracts and swap agreements [Member] | ProShares Ultra Gold [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | 4,365,328 | 3,487,955 | 25,863,384 | 7,580,540 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | 25,953,698 | 8,682,329 | 6,800,402 | 4,870,890 | |||||
| Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Net realized gain (loss) on futures contracts and swap agreements/changes in unrealized appreciation (depreciation) on futures contracts and swap agreements [Member] | ProShares Ultra Silver [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | 11,386,313 | (8,015,753) | 7,688,659 | 5,286,038 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | 69,421,367 | 8,474,186 | (15,751,245) | (18,413,484) | |||||
| Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Net realized gain (loss) on futures contracts and swap agreements/changes in unrealized appreciation (depreciation) on futures contracts and swap agreements [Member] | Proshares UltraPro 3X Crude Oil ETF [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | 3,901,537 | (414,693,599) | [2] | 26,174,406 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (13,232,019) | (7,266,550) | [2] | 50,924,735 | |||||
| Not Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | Net realized gain (loss) on futures contracts and swap agreements/changes in unrealized appreciation (depreciation) on futures contracts and swap agreements [Member] | ProShares UltraPro 3X Short Crude Oil ETF [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | 1,186,904 | 83,293,001 | [2] | (1,081,892) | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (1,076,230) | 8,358,056 | [2] | (10,572,583) | |||||
| Not Designated as Hedging Instrument [Member] | Foreign Exchange Contracts [Member] | Net realized gain (loss) on futures and/or foreign currency forward contracts/changes in unrealized appreciation (depreciation) on futures and/or foreign currency forward contracts [Member] | ProShares Short Euro [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (20,020) | 76,518 | (38,658) | 223,624 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (20,804) | (239,858) | 46,520 | (35,721) | |||||
| Not Designated as Hedging Instrument [Member] | Foreign Exchange Contracts [Member] | Net realized gain (loss) on futures and/or foreign currency forward contracts/changes in unrealized appreciation (depreciation) on futures and/or foreign currency forward contracts [Member] | ProShares UltraShort Australian Dollar [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (1,037,904) | 250,116 | (366,954) | 512,861 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (562,236) | (74,786) | 385,350 | (652,001) | |||||
| Not Designated as Hedging Instrument [Member] | Foreign Exchange Contracts [Member] | Net realized gain (loss) on futures and/or foreign currency forward contracts/changes in unrealized appreciation (depreciation) on futures and/or foreign currency forward contracts [Member] | ProShares UltraShort Euro [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (2,285,868) | 1,947,377 | (1,238,585) | 5,276,619 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | (1,212,465) | (3,873,835) | 1,925,466 | 555,595 | |||||
| Not Designated as Hedging Instrument [Member] | Foreign Exchange Contracts [Member] | Net realized gain (loss) on futures and/or foreign currency forward contracts/changes in unrealized appreciation (depreciation) on futures and/or foreign currency forward contracts [Member] | ProShares UltraShort Yen [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | 110,748 | (2,600,562) | (395,772) | (2,943,970) | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | 70,456 | 273,224 | (628,889) | 2,706,941 | |||||
| Not Designated as Hedging Instrument [Member] | Foreign Exchange Contracts [Member] | Net realized gain (loss) on futures and/or foreign currency forward contracts/changes in unrealized appreciation (depreciation) on futures and/or foreign currency forward contracts [Member] | ProShares Ultra Euro [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (18,635) | (132,599) | (71,903) | (359,872) | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | 97,408 | 208,561 | (123,926) | (16,915) | |||||
| Not Designated as Hedging Instrument [Member] | Foreign Exchange Contracts [Member] | Net realized gain (loss) on futures and/or foreign currency forward contracts/changes in unrealized appreciation (depreciation) on futures and/or foreign currency forward contracts [Member] | ProShares Ultra Yen [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Realized Gain (Loss) on Derivatives Recognized in Income | (106,753) | 171,283 | (115,236) | 93,976 | |||||
| Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | $ 68,867 | $ (16,099) | $ 49,628 | $ (128,696) | |||||
| |||||||||
Investments - Offsetting of Financial Assets and Liabilities (Detail) - USD ($) |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Swap Agreements [Member] | ||
| Derivative [Line Items] | ||
| Net Amounts of Assets presented in the Statements of Financial Condition | $ 29,691,948 | $ 52,840,748 |
| Net Amounts of Liabilities presented in the Statements of Financial Condition | 7,684,140 | 7,370,428 |
| Foreign Currency Forward Contracts [Member] | ||
| Derivative [Line Items] | ||
| Net Amounts of Assets presented in the Statements of Financial Condition | 39,960 | 321,647 |
| Net Amounts of Liabilities presented in the Statements of Financial Condition | 872,734 | 2,376,700 |
| ProShares Ultra Bloomberg Crude Oil [Member] | Swap Agreements [Member] | ||
| Derivative [Line Items] | ||
| Gross Amounts of Recognized Assets presented in the Statements of Financial Condition | 10,038,323 | 21,814,590 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Assets presented in the Statements of Financial Condition | 10,038,323 | 21,814,590 |
| Gross Amounts of Recognized Liabilities presented in the Statements of Financial Condition | 0 | 0 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Liabilities presented in the Statements of Financial Condition | 0 | 0 |
| ProShares Ultra Euro [Member] | Foreign Currency Forward Contracts [Member] | ||
| Derivative [Line Items] | ||
| Gross Amounts of Recognized Assets presented in the Statements of Financial Condition | 530 | 109,997 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Assets presented in the Statements of Financial Condition | 530 | 109,997 |
| Gross Amounts of Recognized Liabilities presented in the Statements of Financial Condition | 14,459 | 0 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Liabilities presented in the Statements of Financial Condition | 14,459 | 0 |
| ProShares Ultra Gold [Member] | Swap Agreements [Member] | ||
| Derivative [Line Items] | ||
| Gross Amounts of Recognized Assets presented in the Statements of Financial Condition | 10,650,992 | 5,890,260 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Assets presented in the Statements of Financial Condition | 10,650,992 | 5,890,260 |
| Gross Amounts of Recognized Liabilities presented in the Statements of Financial Condition | 0 | 0 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Liabilities presented in the Statements of Financial Condition | 0 | 0 |
| ProShares Ultra Silver [Member] | Swap Agreements [Member] | ||
| Derivative [Line Items] | ||
| Gross Amounts of Recognized Assets presented in the Statements of Financial Condition | 9,002,633 | 25,135,898 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Assets presented in the Statements of Financial Condition | 9,002,633 | 25,135,898 |
| Gross Amounts of Recognized Liabilities presented in the Statements of Financial Condition | 0 | 0 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Liabilities presented in the Statements of Financial Condition | 0 | 0 |
| ProShares Ultra VIX Short-Term Futures ETF [Member] | Swap Agreements [Member] | ||
| Derivative [Line Items] | ||
| Gross Amounts of Recognized Assets presented in the Statements of Financial Condition | 0 | 0 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Assets presented in the Statements of Financial Condition | 0 | 0 |
| Gross Amounts of Recognized Liabilities presented in the Statements of Financial Condition | 3,959,662 | 209,784 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Liabilities presented in the Statements of Financial Condition | 3,959,662 | 209,784 |
| ProShares Ultra Yen [Member] | Foreign Currency Forward Contracts [Member] | ||
| Derivative [Line Items] | ||
| Gross Amounts of Recognized Assets presented in the Statements of Financial Condition | 39,430 | 0 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Assets presented in the Statements of Financial Condition | 39,430 | 0 |
| Gross Amounts of Recognized Liabilities presented in the Statements of Financial Condition | 331 | 10,529 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Liabilities presented in the Statements of Financial Condition | 331 | 10,529 |
| ProShares UltraShort Bloomberg Crude Oil [Member] | Swap Agreements [Member] | ||
| Derivative [Line Items] | ||
| Gross Amounts of Recognized Assets presented in the Statements of Financial Condition | 0 | 0 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Assets presented in the Statements of Financial Condition | 0 | 0 |
| Gross Amounts of Recognized Liabilities presented in the Statements of Financial Condition | 2,095,678 | 4,033,931 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Liabilities presented in the Statements of Financial Condition | 2,095,678 | 4,033,931 |
| ProShares UltraShort Euro [Member] | Foreign Currency Forward Contracts [Member] | ||
| Derivative [Line Items] | ||
| Gross Amounts of Recognized Assets presented in the Statements of Financial Condition | 0 | 115,751 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Assets presented in the Statements of Financial Condition | 0 | 115,751 |
| Gross Amounts of Recognized Liabilities presented in the Statements of Financial Condition | 324,954 | 2,366,171 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Liabilities presented in the Statements of Financial Condition | 324,954 | 2,366,171 |
| ProShares UltraShort Gold [Member] | Swap Agreements [Member] | ||
| Derivative [Line Items] | ||
| Gross Amounts of Recognized Assets presented in the Statements of Financial Condition | 0 | 0 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Assets presented in the Statements of Financial Condition | 0 | 0 |
| Gross Amounts of Recognized Liabilities presented in the Statements of Financial Condition | 1,244,969 | 1,172,809 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Liabilities presented in the Statements of Financial Condition | 1,244,969 | 1,172,809 |
| ProShares UltraShort Silver [Member] | Swap Agreements [Member] | ||
| Derivative [Line Items] | ||
| Gross Amounts of Recognized Assets presented in the Statements of Financial Condition | 0 | 0 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Assets presented in the Statements of Financial Condition | 0 | 0 |
| Gross Amounts of Recognized Liabilities presented in the Statements of Financial Condition | 383,831 | 1,953,904 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Liabilities presented in the Statements of Financial Condition | 383,831 | 1,953,904 |
| ProShares UltraShort Yen [Member] | Foreign Currency Forward Contracts [Member] | ||
| Derivative [Line Items] | ||
| Gross Amounts of Recognized Assets presented in the Statements of Financial Condition | 0 | 95,899 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Assets presented in the Statements of Financial Condition | 0 | 95,899 |
| Gross Amounts of Recognized Liabilities presented in the Statements of Financial Condition | 532,990 | 0 |
| Gross Amounts Offset in the Statements of Financial Condition | 0 | 0 |
| Net Amounts of Liabilities presented in the Statements of Financial Condition | $ 532,990 | $ 0 |
Investments - Gross Amounts Not Offset in Statements of Financial Condition (Detail) - USD ($) |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| ProShares Ultra Bloomberg Crude Oil [Member] | Citibank N.A. [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | $ 6,039,121 | |
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | (6,039,121) | |
| ProShares Ultra Bloomberg Crude Oil [Member] | Goldman Sachs International [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | $ 8,263,529 | 4,393,163 |
| Financial Instruments for the Benefit of (the Funds) / the Counterparties | (8,263,529) | (4,393,163) |
| ProShares Ultra Bloomberg Crude Oil [Member] | Morgan Stanley [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | (100,546) | |
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | 100,546 | |
| ProShares Ultra Bloomberg Crude Oil [Member] | Royal Bank of Canada [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | 4,210,281 | |
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | (4,210,281) | |
| ProShares Ultra Bloomberg Crude Oil [Member] | Societe Generale [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | 1,875,340 | 2,253,037 |
| Financial Instruments for the Benefit of (the Funds) / the Counterparties | (1,875,340) | (2,253,037) |
| ProShares Ultra Bloomberg Crude Oil [Member] | UBS AG [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | 4,918,988 | |
| Financial Instruments for the Benefit of (the Funds) / the Counterparties | (4,918,988) | |
| ProShares Ultra Euro [Member] | Goldman Sachs International [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | 3,899 | 54,679 |
| Net Amounts | 3,899 | 54,679 |
| ProShares Ultra Euro [Member] | UBS AG [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | (17,828) | 55,318 |
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | 17,828 | |
| Net Amounts | 55,318 | |
| ProShares Ultra Gold [Member] | Citibank N.A. [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | 3,728,155 | 2,300,665 |
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | (2,740,000) | (1,960,000) |
| Net Amounts | 988,155 | 340,665 |
| ProShares Ultra Gold [Member] | Goldman Sachs International [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | 3,680,169 | 1,681,492 |
| Financial Instruments for the Benefit of (the Funds) / the Counterparties | (2,814,590) | (1,489,073) |
| Net Amounts | 865,579 | 192,419 |
| ProShares Ultra Gold [Member] | UBS AG [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | 3,242,668 | 1,908,103 |
| Financial Instruments for the Benefit of (the Funds) / the Counterparties | (2,607,366) | (1,638,362) |
| Net Amounts | 635,302 | 269,741 |
| ProShares Ultra Silver [Member] | Citibank N.A. [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | 3,546,882 | 10,329,244 |
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | (225,600) | (10,329,244) |
| Net Amounts | 3,321,282 | |
| ProShares Ultra Silver [Member] | Goldman Sachs International [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | 2,744,895 | 5,925,755 |
| Financial Instruments for the Benefit of (the Funds) / the Counterparties | (5,925,755) | |
| Net Amounts | 2,744,895 | |
| ProShares Ultra Silver [Member] | UBS AG [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | 2,710,856 | 8,880,899 |
| Financial Instruments for the Benefit of (the Funds) / the Counterparties | (8,880,899) | |
| Net Amounts | 2,710,856 | |
| ProShares Ultra VIX Short-Term Futures ETF [Member] | Goldman Sachs & Co. [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | (3,959,662) | (209,784) |
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | 3,959,662 | 209,784 |
| ProShares Ultra Yen [Member] | Goldman Sachs International [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | 22,496 | (2,404) |
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | 2,404 | |
| Net Amounts | 22,496 | |
| ProShares Ultra Yen [Member] | UBS AG [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | 16,603 | (8,125) |
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | 8,125 | |
| Net Amounts | 16,603 | |
| ProShares UltraShort Bloomberg Crude Oil [Member] | Citibank N.A. [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | (1,401,797) | |
| Financial Instruments for the Benefit of (the Funds) / the Counterparties | 1,401,797 | |
| ProShares UltraShort Bloomberg Crude Oil [Member] | Goldman Sachs International [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | (2,095,678) | (793,395) |
| Financial Instruments for the Benefit of (the Funds) / the Counterparties | 793,395 | |
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | 2,095,678 | |
| ProShares UltraShort Bloomberg Crude Oil [Member] | Royal Bank of Canada [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | (815,341) | |
| Financial Instruments for the Benefit of (the Funds) / the Counterparties | 815,341 | |
| ProShares UltraShort Bloomberg Crude Oil [Member] | Societe Generale [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | (325,459) | |
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | 325,459 | |
| ProShares UltraShort Bloomberg Crude Oil [Member] | UBS AG [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | (697,939) | |
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | 697,939 | |
| ProShares UltraShort Euro [Member] | Goldman Sachs International [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | (47,617) | (1,134,162) |
| Financial Instruments for the Benefit of (the Funds) / the Counterparties | 47,617 | 1,134,162 |
| ProShares UltraShort Euro [Member] | UBS AG [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | (277,337) | (1,116,258) |
| Financial Instruments for the Benefit of (the Funds) / the Counterparties | 277,337 | 1,116,258 |
| ProShares UltraShort Gold [Member] | Citibank N.A. [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | (569,683) | (534,714) |
| Financial Instruments for the Benefit of (the Funds) / the Counterparties | 534,714 | |
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | 569,683 | |
| ProShares UltraShort Gold [Member] | Goldman Sachs International [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | (426,747) | (263,870) |
| Financial Instruments for the Benefit of (the Funds) / the Counterparties | 263,870 | |
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | 426,747 | |
| ProShares UltraShort Gold [Member] | UBS AG [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | (248,539) | (374,225) |
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | 248,539 | 374,225 |
| ProShares UltraShort Silver [Member] | Citibank N.A. [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | (175,594) | (788,313) |
| Financial Instruments for the Benefit of (the Funds) / the Counterparties | 788,313 | |
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | 175,594 | |
| ProShares UltraShort Silver [Member] | Goldman Sachs International [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | (88,575) | (401,324) |
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | 88,575 | 401,324 |
| ProShares UltraShort Silver [Member] | UBS AG [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | (119,662) | (764,267) |
| Financial Instruments for the Benefit of (the Funds) / the Counterparties | 764,267 | |
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | 119,662 | |
| ProShares UltraShort Yen [Member] | Goldman Sachs International [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | (126,422) | 32,828 |
| Financial Instruments for the Benefit of (the Funds) / the Counterparties | (32,828) | |
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | 126,422 | |
| ProShares UltraShort Yen [Member] | UBS AG [Member] | ||
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | ||
| Amounts of Recognized Assets / (Liabilities) presented in the Statements of Financial Condition | (406,568) | 63,071 |
| Financial Instruments for the Benefit of (the Funds) / the Counterparties | $ (63,071) | |
| Cash Collateral for the Benefit of (the Funds) / the Counterparties | $ 406,568 |
Agreements - Additional Information (Detail) |
6 Months Ended |
|---|---|
|
Jun. 30, 2020
USD ($)
| |
| Investment Holdings [Line Items] | |
| Ceiling for legal fees | $ 100,000 |
| Percentage of annual NAV as limit to pay SEC registration fees incurred | 0.021% |
| Ceiling for per annum K-1 preparation and mailing fees against annual net assets of Fund | 0.10% |
| Leveraged Fund [Member] | |
| Investment Holdings [Line Items] | |
| Management Fee paid to sponsor, percent per annum of the average daily NAV of each Geared Fund | 0.95% |
| GearedVix Funds [Member] | |
| Investment Holdings [Line Items] | |
| Management Fee paid to sponsor, percent per annum of the average daily NAV of each Geared Fund | 0.95% |
| ProShares Short Euro [Member] | |
| Investment Holdings [Line Items] | |
| Management Fee paid to sponsor, percent per annum of the average daily NAV of each Geared Fund | 0.95% |
| Matching VIX Funds [Member] | |
| Investment Holdings [Line Items] | |
| Management Fee paid to sponsor, percent per annum of the average daily NAV of each Geared Fund | 0.85% |
Offering Costs - Additional Information (Detail) |
6 Months Ended |
|---|---|
Jun. 30, 2020 | |
| Investment Holdings [Line Items] | |
| Offering costs, amortization period | 12 months |
Creation and Redemption of Creation Units - Additional Information (Detail) |
6 Months Ended |
|---|---|
|
Jun. 30, 2020
$ / EquityUnit
shares
| |
| Creation And Redemption Of Creation Units [Line Items] | |
| Creation Unit, block Shares of a Fund | 50,000 |
| Fixed transaction fee per Creation Unit, maximum | $ / EquityUnit | 250 |
| Variable transaction fee, percent of the value of the Creation Unit, maximum | 0.10% |
| Matching VIX Funds [Member] | |
| Creation And Redemption Of Creation Units [Line Items] | |
| Creation Unit, block Shares of a Fund | 25,000 |
| Variable transaction fee, percent of the value of the Creation Unit, maximum | 0.05% |
Creation and Redemption of Creation Units - Schedule of Transaction Fees (Detail) - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2020 |
|||
| Investment Holdings [Line Items] | ||||
| Transaction fees | $ 741,207 | $ 2,151,753 | ||
| ProShares Short VIX Short-Term Futures ETF [Member] | ||||
| Investment Holdings [Line Items] | ||||
| Transaction fees | 194,355 | 713,935 | ||
| ProShares Ultra VIX Short-Term Futures ETF [Member] | ||||
| Investment Holdings [Line Items] | ||||
| Transaction fees | 482,361 | 1,189,587 | ||
| Proshares UltraPro 3x Crude Oil ETF [Member] | ||||
| Investment Holdings [Line Items] | ||||
| Transaction fees | [1] | 0 | 0 | |
| ProShares UltraPro 3x Short Crude Oil ETF [Member] | ||||
| Investment Holdings [Line Items] | ||||
| Transaction fees | [1] | 0 | 0 | |
| ProShares VIX Mid-Term Futures ETF [Member] | ||||
| Investment Holdings [Line Items] | ||||
| Transaction fees | 13,760 | 27,480 | ||
| ProShares VIX Short-Term Futures ETF [Member] | ||||
| Investment Holdings [Line Items] | ||||
| Transaction fees | $ 50,731 | $ 220,751 | ||
| ||||
Financial Highlights - Per Share Operating Performance (Detail) - $ / shares |
3 Months Ended | 6 Months Ended | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|||||||||||||||||||||||
| ProShares Short Euro [Member] | ||||||||||||||||||||||||||
| Investment Company, Financial Highlights [Line Items] | ||||||||||||||||||||||||||
| Net asset value, beginning balance | $ 46.66 | $ 44.43 | $ 45.64 | $ 43.10 | ||||||||||||||||||||||
| Net investment income (loss) | (0.11) | 0.14 | (0.07) | 0.29 | ||||||||||||||||||||||
| Net realized and unrealized gain (loss) | [1] | (0.82) | (0.32) | 0.16 | 0.86 | |||||||||||||||||||||
| Change in net asset value from operations | (0.93) | (0.18) | 0.09 | 1.15 | ||||||||||||||||||||||
| Net asset value, ending balance | 45.73 | 44.25 | 45.73 | 44.25 | ||||||||||||||||||||||
| Market value per share, beginning balance | [2] | 45.09 | 44.41 | 45.69 | 43.08 | |||||||||||||||||||||
| Market value per share, ending balance | [2] | $ 44.83 | $ 44.26 | $ 44.83 | $ 44.26 | |||||||||||||||||||||
| Total Return, at net asset value | (2.00%) | [3] | (0.40%) | [4] | 0.20% | [3] | 2.70% | [4] | ||||||||||||||||||
| Total Return, at market value | (0.60%) | [3] | (0.30%) | [4] | (1.90%) | [3] | 2.80% | [4] | ||||||||||||||||||
| Ratios to Average Net Assets | ||||||||||||||||||||||||||
| Expense ratio | [5] | 0.97% | 0.96% | 0.97% | 0.97% | |||||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees | [5] | 0.95% | 0.95% | 0.95% | 0.95% | |||||||||||||||||||||
| Net investment income (loss) | [5] | (0.96%) | 1.29% | (0.31%) | 1.30% | |||||||||||||||||||||
| ProShares Short VIX Short-Term Futures ETF [Member] | ||||||||||||||||||||||||||
| Investment Company, Financial Highlights [Line Items] | ||||||||||||||||||||||||||
| Net asset value, beginning balance | $ 31.02 | $ 52.31 | $ 65.62 | $ 42.36 | [6] | |||||||||||||||||||||
| Net investment income (loss) | (0.10) | 0.10 | (0.17) | 0.10 | [6] | |||||||||||||||||||||
| Net realized and unrealized gain (loss) | [1] | 0.48 | 2.10 | (34.05) | 12.05 | [6] | ||||||||||||||||||||
| Change in net asset value from operations | 0.38 | 2.20 | (34.22) | 12.15 | [6] | |||||||||||||||||||||
| Net asset value, ending balance | 31.40 | 54.51 | [6] | 31.40 | 54.51 | [6] | ||||||||||||||||||||
| Market value per share, beginning balance | [2] | 31.01 | 52.36 | 65.23 | 42.30 | [6] | ||||||||||||||||||||
| Market value per share, ending balance | [2] | $ 31.50 | $ 53.87 | [6] | $ 31.50 | $ 53.87 | [6] | |||||||||||||||||||
| Total Return, at net asset value | 1.20% | [3] | 4.20% | [4] | (52.10%) | [3] | 28.70% | [4],[6] | ||||||||||||||||||
| Total Return, at market value | 1.60% | [3] | 2.90% | [4] | (51.70%) | [3] | 27.40% | [4],[6] | ||||||||||||||||||
| Ratios to Average Net Assets | ||||||||||||||||||||||||||
| Expense ratio | [5] | 1.34% | 1.17% | 1.29% | 1.36% | [6],[7] | ||||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees | [5] | 0.95% | 0.95% | 0.95% | 0.95% | [6] | ||||||||||||||||||||
| Net investment income (loss) | [5] | (1.28%) | 0.73% | (0.96%) | 0.39% | [6] | ||||||||||||||||||||
| ProShares Ultra Bloomberg Crude Oil [Member] | ||||||||||||||||||||||||||
| Investment Company, Financial Highlights [Line Items] | ||||||||||||||||||||||||||
| Net asset value, beginning balance | $ 40.15 | $ 538.03 | $ 509.23 | [6] | $ 326.46 | [6] | ||||||||||||||||||||
| Net investment income (loss) | (0.08) | 1.70 | (0.14) | [6] | 2.76 | [6] | ||||||||||||||||||||
| Net realized and unrealized gain (loss) | [1] | (11.48) | (49.04) | (480.50) | [6] | 161.47 | [6] | |||||||||||||||||||
| Change in net asset value from operations | (11.56) | (47.34) | (480.64) | [6] | 164.23 | [6] | ||||||||||||||||||||
| Net asset value, ending balance | [6] | 28.59 | 490.69 | 28.59 | 490.69 | |||||||||||||||||||||
| Market value per share, beginning balance | [2] | 39.75 | 538.25 | 511.50 | [6] | 332.50 | [6] | |||||||||||||||||||
| Market value per share, ending balance | [2],[6] | $ 28.68 | $ 483.00 | $ 28.68 | $ 483.00 | |||||||||||||||||||||
| Total Return, at net asset value | (29.00%) | [3] | (8.80%) | [4] | (94.40%) | [3],[6] | 50.30% | [4],[6] | ||||||||||||||||||
| Total Return, at market value | (27.90%) | [3] | (10.30%) | [4] | (94.40%) | [3],[6] | 45.30% | [4],[6] | ||||||||||||||||||
| Ratios to Average Net Assets | ||||||||||||||||||||||||||
| Expense ratio | [5] | 1.47% | 0.99% | 1.38% | [6] | 0.98% | [6] | |||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees | [5] | 0.95% | 0.95% | 0.95% | [6] | 0.95% | [6] | |||||||||||||||||||
| Net investment income (loss) | [5] | (1.35%) | 1.30% | (0.92%) | [6] | 1.15% | [6] | |||||||||||||||||||
| ProShares Ultra Bloomberg Natural Gas [Member] | ||||||||||||||||||||||||||
| Investment Company, Financial Highlights [Line Items] | ||||||||||||||||||||||||||
| Net asset value, beginning balance | $ 41.82 | $ 203.28 | [6] | $ 83.97 | [6] | $ 252.83 | [6] | |||||||||||||||||||
| Net investment income (loss) | (0.13) | 0.33 | [6] | (0.16) | [6] | 0.74 | [6] | |||||||||||||||||||
| Net realized and unrealized gain (loss) | (13.38) | [1] | (65.08) | [6] | (55.50) | [1],[6] | (115.04) | [1],[6] | ||||||||||||||||||
| Change in net asset value from operations | (13.51) | (64.75) | [6] | (55.66) | [6] | (114.30) | [6] | |||||||||||||||||||
| Net asset value, ending balance | [6] | 28.31 | 138.53 | 28.31 | 138.53 | |||||||||||||||||||||
| Market value per share, beginning balance | 42.60 | [2] | 204.20 | [6] | 83.40 | [2],[6] | 258.20 | [2],[6] | ||||||||||||||||||
| Market value per share, ending balance | [2],[6] | $ 28.36 | $ 139.20 | $ 28.36 | $ 139.20 | |||||||||||||||||||||
| Total Return, at net asset value | (32.20%) | [3] | (31.90%) | [6] | (66.30%) | [3],[6] | (45.20%) | [4],[6] | ||||||||||||||||||
| Total Return, at market value | (33.40%) | [3] | (31.80%) | [6] | (66.00%) | [3],[6] | (46.10%) | [4],[6] | ||||||||||||||||||
| Ratios to Average Net Assets | ||||||||||||||||||||||||||
| Expense ratio | [5] | 1.82% | 1.39% | [6] | 1.59% | [6] | 1.34% | [6] | ||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees | [5] | 0.95% | 0.95% | [6] | 0.95% | [6] | 0.95% | [6] | ||||||||||||||||||
| Net investment income (loss) | [5] | (1.40%) | 0.78% | [6] | (0.66%) | [6] | 0.77% | [6] | ||||||||||||||||||
| ProShares Ultra Euro [Member] | ||||||||||||||||||||||||||
| Investment Company, Financial Highlights [Line Items] | ||||||||||||||||||||||||||
| Net asset value, beginning balance | $ 13.16 | $ 14.29 | $ 13.79 | $ 15.09 | ||||||||||||||||||||||
| Net investment income (loss) | (0.03) | 0.04 | (0.02) | 0.08 | ||||||||||||||||||||||
| Net realized and unrealized gain (loss) | [1] | 0.43 | 0.17 | (0.21) | (0.67) | |||||||||||||||||||||
| Change in net asset value from operations | 0.40 | 0.21 | (0.23) | (0.59) | ||||||||||||||||||||||
| Net asset value, ending balance | 13.56 | 14.50 | 13.56 | 14.50 | ||||||||||||||||||||||
| Market value per share, beginning balance | [2] | 13.15 | 14.31 | 13.77 | 15.12 | |||||||||||||||||||||
| Market value per share, ending balance | [2] | $ 13.57 | $ 14.51 | $ 13.57 | $ 14.51 | |||||||||||||||||||||
| Total Return, at net asset value | 3.00% | [3] | 1.50% | [4] | (1.70%) | [3] | (3.90%) | [4] | ||||||||||||||||||
| Total Return, at market value | 3.20% | [3] | 1.40% | [4] | (1.50%) | [3] | (4.10%) | [4] | ||||||||||||||||||
| Ratios to Average Net Assets | ||||||||||||||||||||||||||
| Expense ratio | [5] | 0.95% | 0.95% | 0.95% | 0.95% | |||||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees | [5] | 0.95% | 0.95% | 0.95% | 0.95% | |||||||||||||||||||||
| Net investment income (loss) | [5] | (0.93%) | 1.09% | (0.24%) | 1.07% | |||||||||||||||||||||
| ProShares Ultra Gold [Member] | ||||||||||||||||||||||||||
| Investment Company, Financial Highlights [Line Items] | ||||||||||||||||||||||||||
| Net asset value, beginning balance | $ 52.44 | $ 37.32 | $ 49.21 | $ 37.12 | ||||||||||||||||||||||
| Net investment income (loss) | (0.12) | 0.11 | (0.07) | 0.21 | ||||||||||||||||||||||
| Net realized and unrealized gain (loss) | [1] | 12.66 | 6.35 | 15.84 | 6.45 | |||||||||||||||||||||
| Change in net asset value from operations | 12.54 | 6.46 | 15.77 | 6.66 | ||||||||||||||||||||||
| Net asset value, ending balance | 64.98 | 43.78 | 64.98 | 43.78 | ||||||||||||||||||||||
| Market value per share, beginning balance | [2] | 52.00 | 37.24 | 49.05 | 37.41 | |||||||||||||||||||||
| Market value per share, ending balance | [2] | $ 64.83 | $ 43.80 | $ 64.83 | $ 43.80 | |||||||||||||||||||||
| Total Return, at net asset value | 23.90% | [3] | 17.30% | [4] | 32.00% | [3] | 17.90% | [4] | ||||||||||||||||||
| Total Return, at market value | 24.70% | [3] | 17.60% | [4] | 32.20% | [3] | 17.10% | [4] | ||||||||||||||||||
| Ratios to Average Net Assets | ||||||||||||||||||||||||||
| Expense ratio | [5] | 1.00% | 0.96% | 0.99% | 0.96% | |||||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees | [5] | 0.95% | 0.95% | 0.95% | 0.95% | |||||||||||||||||||||
| Net investment income (loss) | [5] | (0.80%) | 1.21% | (0.26%) | 1.10% | |||||||||||||||||||||
| ProShares Ultra Silver [Member] | ||||||||||||||||||||||||||
| Investment Company, Financial Highlights [Line Items] | ||||||||||||||||||||||||||
| Net asset value, beginning balance | $ 18.42 | $ 24.52 | $ 31.70 | $ 26.39 | ||||||||||||||||||||||
| Net investment income (loss) | (0.05) | 0.07 | (0.01) | 0.13 | ||||||||||||||||||||||
| Net realized and unrealized gain (loss) | [1] | 11.19 | 0.03 | (2.13) | (1.90) | |||||||||||||||||||||
| Change in net asset value from operations | 11.14 | 0.10 | (2.14) | (1.77) | ||||||||||||||||||||||
| Net asset value, ending balance | 29.56 | 24.62 | 29.56 | 24.62 | ||||||||||||||||||||||
| Market value per share, beginning balance | [2] | 18.44 | 24.48 | 31.65 | 26.37 | |||||||||||||||||||||
| Market value per share, ending balance | [2] | $ 29.33 | $ 24.65 | $ 29.33 | $ 24.65 | |||||||||||||||||||||
| Total Return, at net asset value | 60.50% | [3] | 0.40% | [4] | (6.80%) | [3] | (6.70%) | [4] | ||||||||||||||||||
| Total Return, at market value | 59.10% | [3] | 0.70% | [4] | (7.30%) | [3] | (6.50%) | [4] | ||||||||||||||||||
| Ratios to Average Net Assets | ||||||||||||||||||||||||||
| Expense ratio | [5] | 1.06% | 0.97% | 1.02% | 0.97% | |||||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees | [5] | 0.95% | 0.95% | 0.95% | 0.95% | |||||||||||||||||||||
| Net investment income (loss) | [5] | (0.75%) | 1.19% | (0.06%) | 1.05% | |||||||||||||||||||||
| ProShares Ultra VIX Short-Term Futures ETF [Member] | ||||||||||||||||||||||||||
| Investment Company, Financial Highlights [Line Items] | ||||||||||||||||||||||||||
| Net asset value, beginning balance | $ 58.52 | $ 39.00 | [6] | $ 12.67 | $ 81.46 | [6] | ||||||||||||||||||||
| Net investment income (loss) | (0.15) | 0.03 | [6] | (0.12) | 0.03 | [6] | ||||||||||||||||||||
| Net realized and unrealized gain (loss) | [1] | (25.44) | (8.66) | [6] | 20.38 | (51.12) | [6] | |||||||||||||||||||
| Change in net asset value from operations | (25.59) | (8.63) | [6] | 20.26 | (51.09) | [6] | ||||||||||||||||||||
| Net asset value, ending balance | 32.93 | 30.37 | [6] | 32.93 | 30.37 | [6] | ||||||||||||||||||||
| Market value per share, beginning balance | [2] | 58.56 | 38.90 | [6] | 12.89 | 81.73 | [6] | |||||||||||||||||||
| Market value per share, ending balance | [2] | $ 32.77 | $ 31.49 | [6] | $ 32.77 | $ 31.49 | [6] | |||||||||||||||||||
| Total Return, at net asset value | (43.70%) | [3] | (22.10%) | [4],[6] | 159.80% | [3] | (62.70%) | [4],[6] | ||||||||||||||||||
| Total Return, at market value | (44.00%) | [3] | (19.00%) | [4],[6] | 154.20% | [3] | (61.50%) | [4],[6] | ||||||||||||||||||
| Ratios to Average Net Assets | ||||||||||||||||||||||||||
| Expense ratio | [5] | 1.61% | 1.52% | [6] | 1.54% | 1.53% | [6],[8] | |||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees | [5] | 0.95% | 0.95% | [6] | 0.95% | 0.95% | [6] | |||||||||||||||||||
| Net investment income (loss) | [5] | (1.54%) | 0.36% | [6] | (1.00%) | 0.15% | [6] | |||||||||||||||||||
| ProShares Ultra Yen [Member] | ||||||||||||||||||||||||||
| Investment Company, Financial Highlights [Line Items] | ||||||||||||||||||||||||||
| Net asset value, beginning balance | $ 56.21 | $ 55.65 | $ 55.83 | $ 57.53 | ||||||||||||||||||||||
| Net investment income (loss) | (0.13) | 0.14 | (0.09) | 0.30 | ||||||||||||||||||||||
| Net realized and unrealized gain (loss) | [1] | (0.76) | 2.30 | (0.42) | 0.26 | |||||||||||||||||||||
| Change in net asset value from operations | (0.89) | 2.44 | (0.51) | 0.56 | ||||||||||||||||||||||
| Net asset value, ending balance | 55.32 | 58.09 | 55.32 | 58.09 | ||||||||||||||||||||||
| Market value per share, beginning balance | [2] | 56.19 | 55.64 | 55.83 | 57.55 | |||||||||||||||||||||
| Market value per share, ending balance | [2] | $ 55.31 | $ 58.09 | $ 55.31 | $ 58.09 | |||||||||||||||||||||
| Total Return, at net asset value | (1.60%) | [3] | 4.40% | [4] | (0.90%) | [3] | 1.00% | [4] | ||||||||||||||||||
| Total Return, at market value | (1.60%) | [3] | 4.40% | [4] | (0.90%) | [3] | 0.90% | [4] | ||||||||||||||||||
| Ratios to Average Net Assets | ||||||||||||||||||||||||||
| Expense ratio | [5] | 0.95% | 0.95% | 0.95% | 0.95% | |||||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees | [5] | 0.95% | 0.95% | 0.95% | 0.95% | |||||||||||||||||||||
| Net investment income (loss) | [5] | (0.94%) | 1.00% | (0.34%) | 1.06% | |||||||||||||||||||||
| Proshares UltraPro 3X Crude Oil ETF [Member] | ||||||||||||||||||||||||||
| Investment Company, Financial Highlights [Line Items] | ||||||||||||||||||||||||||
| Net asset value, beginning balance | $ 26.95 | $ 13.08 | ||||||||||||||||||||||||
| Net investment income (loss) | 0.06 | 0.10 | ||||||||||||||||||||||||
| Net realized and unrealized gain (loss) | [1] | (4.47) | 9.36 | |||||||||||||||||||||||
| Change in net asset value from operations | (4.41) | 9.46 | ||||||||||||||||||||||||
| Net asset value, ending balance | 22.54 | 22.54 | ||||||||||||||||||||||||
| Market value per share, beginning balance | [2] | 26.97 | 13.47 | |||||||||||||||||||||||
| Market value per share, ending balance | [2] | $ 22.00 | $ 22.00 | |||||||||||||||||||||||
| Total Return, at net asset value | [4] | (16.40%) | 72.30% | |||||||||||||||||||||||
| Total Return, at market value | [4] | (18.40%) | 63.30% | |||||||||||||||||||||||
| Ratios to Average Net Assets | ||||||||||||||||||||||||||
| Expense ratio | [5] | 1.25% | 1.20% | |||||||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees | [5] | 0.95% | 0.95% | |||||||||||||||||||||||
| Net investment income (loss) | [5] | 0.90% | 0.85% | |||||||||||||||||||||||
| ProShares UltraPro 3X Short Crude Oil ETF [Member] | ||||||||||||||||||||||||||
| Investment Company, Financial Highlights [Line Items] | ||||||||||||||||||||||||||
| Net asset value, beginning balance | [6] | $ 20.62 | $ 49.79 | |||||||||||||||||||||||
| Net investment income (loss) | [6] | 0.04 | 0.08 | |||||||||||||||||||||||
| Net realized and unrealized gain (loss) | [1],[6] | (0.86) | (30.07) | |||||||||||||||||||||||
| Change in net asset value from operations | [6] | (0.82) | (29.99) | |||||||||||||||||||||||
| Net asset value, ending balance | [6] | 19.80 | 19.80 | |||||||||||||||||||||||
| Market value per share, beginning balance | [2],[6] | 20.60 | 48.43 | |||||||||||||||||||||||
| Market value per share, ending balance | [2],[6] | $ 20.28 | $ 20.28 | |||||||||||||||||||||||
| Total Return, at net asset value | [4],[6] | (4.00%) | (60.20%) | |||||||||||||||||||||||
| Total Return, at market value | [4],[6] | (1.60%) | (58.10%) | |||||||||||||||||||||||
| Ratios to Average Net Assets | ||||||||||||||||||||||||||
| Expense ratio | [5],[6] | 1.40% | 1.36% | |||||||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees | [5],[6] | 0.95% | 0.95% | |||||||||||||||||||||||
| Net investment income (loss) | [5],[6] | 0.76% | 0.72% | |||||||||||||||||||||||
| ProShares UltraShort Australian Dollar [Member] | ||||||||||||||||||||||||||
| Investment Company, Financial Highlights [Line Items] | ||||||||||||||||||||||||||
| Net asset value, beginning balance | $ 72.30 | $ 54.42 | $ 56.09 | $ 55.30 | ||||||||||||||||||||||
| Net investment income (loss) | (0.16) | 0.17 | (0.13) | 0.33 | ||||||||||||||||||||||
| Net realized and unrealized gain (loss) | [1] | (16.00) | 1.17 | 0.18 | 0.13 | |||||||||||||||||||||
| Change in net asset value from operations | (16.16) | 1.34 | 0.05 | 0.46 | ||||||||||||||||||||||
| Net asset value, ending balance | 56.14 | 55.76 | 56.14 | 55.76 | ||||||||||||||||||||||
| Market value per share, beginning balance | [2] | 72.06 | 54.41 | 55.88 | 54.92 | |||||||||||||||||||||
| Market value per share, ending balance | [2] | $ 56.06 | $ 55.76 | $ 56.06 | $ 55.76 | |||||||||||||||||||||
| Total Return, at net asset value | (22.40%) | [3] | 2.50% | [4] | 0.10% | [3] | 0.80% | [4] | ||||||||||||||||||
| Total Return, at market value | (22.20%) | [3] | 2.50% | [4] | 0.30% | [3] | 1.50% | [4] | ||||||||||||||||||
| Ratios to Average Net Assets | ||||||||||||||||||||||||||
| Expense ratio | [5] | 1.04% | 1.02% | 1.04% | 1.02% | |||||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees | [5] | 0.95% | 0.95% | 0.95% | 0.95% | |||||||||||||||||||||
| Net investment income (loss) | [5] | (1.03%) | 1.24% | (0.40%) | 1.20% | |||||||||||||||||||||
| ProShares UltraShort Bloomberg Crude Oil [Member] | ||||||||||||||||||||||||||
| Investment Company, Financial Highlights [Line Items] | ||||||||||||||||||||||||||
| Net asset value, beginning balance | $ 49.07 | $ 16.89 | $ 12.19 | $ 29.79 | ||||||||||||||||||||||
| Net investment income (loss) | (0.15) | 0.04 | (0.16) | 0.10 | ||||||||||||||||||||||
| Net realized and unrealized gain (loss) | [1] | (30.62) | (0.07) | 6.27 | (13.03) | |||||||||||||||||||||
| Change in net asset value from operations | (30.77) | (0.03) | 6.11 | (12.93) | ||||||||||||||||||||||
| Net asset value, ending balance | 18.30 | 16.86 | 18.30 | 16.86 | ||||||||||||||||||||||
| Market value per share, beginning balance | [2] | 49.99 | 16.88 | 12.15 | 29.28 | |||||||||||||||||||||
| Market value per share, ending balance | [2] | $ 18.25 | $ 17.12 | $ 18.25 | $ 17.12 | |||||||||||||||||||||
| Total Return, at net asset value | (62.70%) | [3] | (0.20%) | [4] | 50.10% | [3] | (43.40%) | [4] | ||||||||||||||||||
| Total Return, at market value | (63.50%) | [3] | 1.40% | [4] | 50.20% | [3] | (41.50%) | [4] | ||||||||||||||||||
| Ratios to Average Net Assets | ||||||||||||||||||||||||||
| Expense ratio | [5] | 2.14% | 1.04% | 1.83% | 1.03% | |||||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees | [5] | 0.95% | 0.95% | 0.95% | 0.95% | |||||||||||||||||||||
| Net investment income (loss) | [5] | (2.12%) | 1.08% | (1.40%) | 1.07% | |||||||||||||||||||||
| ProShares UltraShort Bloomberg Natural Gas [Member] | ||||||||||||||||||||||||||
| Investment Company, Financial Highlights [Line Items] | ||||||||||||||||||||||||||
| Net asset value, beginning balance | $ 63.38 | $ 22.65 | $ 38.53 | $ 21.61 | ||||||||||||||||||||||
| Net investment income (loss) | (0.32) | 0.03 | (0.40) | 0.07 | ||||||||||||||||||||||
| Net realized and unrealized gain (loss) | [1] | 4.15 | 8.07 | 29.08 | 9.07 | |||||||||||||||||||||
| Change in net asset value from operations | 3.83 | 8.10 | 28.68 | 9.14 | ||||||||||||||||||||||
| Net asset value, ending balance | 67.21 | 30.75 | 67.21 | 30.75 | ||||||||||||||||||||||
| Market value per share, beginning balance | [2] | 62.02 | 22.51 | 38.82 | 21.22 | |||||||||||||||||||||
| Market value per share, ending balance | [2] | $ 67.21 | $ 30.58 | $ 67.21 | $ 30.58 | |||||||||||||||||||||
| Total Return, at net asset value | 6.10% | [3] | 35.80% | [4] | 74.50% | [3] | 42.30% | [4] | ||||||||||||||||||
| Total Return, at market value | 8.40% | [3] | 35.90% | [4] | 73.10% | [3] | 44.10% | [4] | ||||||||||||||||||
| Ratios to Average Net Assets | ||||||||||||||||||||||||||
| Expense ratio | [5] | 2.30% | 1.70% | 2.11% | 1.49% | |||||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees | [5] | 0.95% | 0.95% | 0.95% | 0.95% | |||||||||||||||||||||
| Net investment income (loss) | [5] | (2.27%) | 0.55% | (1.51%) | 0.60% | |||||||||||||||||||||
| ProShares UltraShort Euro [Member] | ||||||||||||||||||||||||||
| Investment Company, Financial Highlights [Line Items] | ||||||||||||||||||||||||||
| Net asset value, beginning balance | $ 27.82 | $ 25.67 | $ 26.80 | $ 24.27 | ||||||||||||||||||||||
| Net investment income (loss) | (0.04) | 0.09 | 0.00 | [9] | 0.16 | |||||||||||||||||||||
| Net realized and unrealized gain (loss) | [1] | (1.05) | (0.37) | (0.07) | 0.96 | |||||||||||||||||||||
| Change in net asset value from operations | (1.09) | (0.28) | (0.07) | 1.12 | ||||||||||||||||||||||
| Net asset value, ending balance | 26.73 | 25.39 | 26.73 | 25.39 | ||||||||||||||||||||||
| Market value per share, beginning balance | [2] | 27.76 | 25.67 | 26.80 | 24.25 | |||||||||||||||||||||
| Market value per share, ending balance | [2] | $ 26.73 | $ 25.34 | $ 26.73 | $ 25.34 | |||||||||||||||||||||
| Total Return, at net asset value | (3.90%) | [3] | (1.10%) | [4] | (0.30%) | [3] | 4.60% | [4] | ||||||||||||||||||
| Total Return, at market value | (3.70%) | [3] | (1.30%) | [4] | (0.30%) | [3] | 4.50% | [4] | ||||||||||||||||||
| Ratios to Average Net Assets | ||||||||||||||||||||||||||
| Expense ratio | [5] | 0.95% | 0.95% | 0.95% | 0.95% | |||||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees | [5] | 0.95% | 0.95% | 0.95% | 0.95% | |||||||||||||||||||||
| Net investment income (loss) | [5] | (0.65%) | 1.34% | (0.02%) | 1.28% | |||||||||||||||||||||
| ProShares UltraShort Gold [Member] | ||||||||||||||||||||||||||
| Investment Company, Financial Highlights [Line Items] | ||||||||||||||||||||||||||
| Net asset value, beginning balance | $ 46.02 | $ 72.42 | $ 53.02 | $ 73.28 | ||||||||||||||||||||||
| Net investment income (loss) | (0.09) | 0.19 | (0.06) | 0.35 | ||||||||||||||||||||||
| Net realized and unrealized gain (loss) | [1] | (10.47) | (11.47) | (17.50) | (12.49) | |||||||||||||||||||||
| Change in net asset value from operations | (10.56) | (11.28) | (17.56) | (12.14) | ||||||||||||||||||||||
| Net asset value, ending balance | 35.46 | 61.14 | 35.46 | 61.14 | ||||||||||||||||||||||
| Market value per share, beginning balance | [2] | 46.28 | 72.61 | 53.21 | 72.84 | |||||||||||||||||||||
| Market value per share, ending balance | [2] | $ 35.57 | $ 61.10 | $ 35.57 | $ 61.10 | |||||||||||||||||||||
| Total Return, at net asset value | (22.90%) | [3] | (15.60%) | [4] | (33.10%) | [3] | (16.60%) | [4] | ||||||||||||||||||
| Total Return, at market value | (23.10%) | [3] | (15.90%) | [4] | (33.20%) | [3] | (16.10%) | [4] | ||||||||||||||||||
| Ratios to Average Net Assets | ||||||||||||||||||||||||||
| Expense ratio | [5] | 1.02% | 0.98% | 1.01% | 0.97% | |||||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees | [5] | 0.95% | 0.95% | 0.95% | 0.95% | |||||||||||||||||||||
| Net investment income (loss) | [5] | (0.97%) | 1.04% | (0.29%) | 1.00% | |||||||||||||||||||||
| ProShares UltraShort Silver [Member] | ||||||||||||||||||||||||||
| Investment Company, Financial Highlights [Line Items] | ||||||||||||||||||||||||||
| Net asset value, beginning balance | $ 36.54 | $ 39.18 | $ 26.76 | $ 37.13 | ||||||||||||||||||||||
| Net investment income (loss) | (0.07) | 0.10 | (0.06) | 0.17 | ||||||||||||||||||||||
| Net realized and unrealized gain (loss) | [1] | (16.85) | (1.06) | (7.08) | 0.92 | |||||||||||||||||||||
| Change in net asset value from operations | (16.92) | (0.96) | (7.14) | 1.09 | ||||||||||||||||||||||
| Net asset value, ending balance | 19.62 | 38.22 | 19.62 | 38.22 | ||||||||||||||||||||||
| Market value per share, beginning balance | [2] | 36.66 | 39.24 | 26.80 | 37.10 | |||||||||||||||||||||
| Market value per share, ending balance | [2] | $ 19.77 | $ 38.18 | $ 19.77 | $ 38.18 | |||||||||||||||||||||
| Total Return, at net asset value | (46.30%) | [3] | (2.50%) | [4] | (26.70%) | [3] | 2.90% | [4] | ||||||||||||||||||
| Total Return, at market value | (46.10%) | [3] | (2.70%) | [4] | (26.20%) | [3] | 2.90% | [4] | ||||||||||||||||||
| Ratios to Average Net Assets | ||||||||||||||||||||||||||
| Expense ratio | [5] | 1.17% | 1.01% | 1.10% | 1.00% | |||||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees | [5] | 0.96% | 0.95% | 0.95% | 0.95% | |||||||||||||||||||||
| Net investment income (loss) | [5] | (1.14%) | 0.97% | (0.41%) | 0.89% | |||||||||||||||||||||
| ProShares UltraShort Yen [Member] | ||||||||||||||||||||||||||
| Investment Company, Financial Highlights [Line Items] | ||||||||||||||||||||||||||
| Net asset value, beginning balance | $ 74.10 | $ 76.47 | $ 76.37 | $ 73.89 | ||||||||||||||||||||||
| Net investment income (loss) | (0.16) | 0.26 | (0.04) | 0.49 | ||||||||||||||||||||||
| Net realized and unrealized gain (loss) | [1] | 0.66 | (3.27) | (1.73) | (0.92) | |||||||||||||||||||||
| Change in net asset value from operations | 0.50 | (3.01) | (1.77) | (0.43) | ||||||||||||||||||||||
| Net asset value, ending balance | 74.60 | 73.46 | 74.60 | 73.46 | ||||||||||||||||||||||
| Market value per share, beginning balance | [2] | 74.11 | 76.44 | 76.35 | 73.86 | |||||||||||||||||||||
| Market value per share, ending balance | [2] | $ 74.58 | $ 73.46 | $ 74.58 | $ 73.46 | |||||||||||||||||||||
| Total Return, at net asset value | 0.70% | [3] | (3.90%) | [4] | (2.30%) | [3] | (0.60%) | [4] | ||||||||||||||||||
| Total Return, at market value | 0.60% | [3] | (3.90%) | [4] | (2.30%) | [3] | (0.50%) | [4] | ||||||||||||||||||
| Ratios to Average Net Assets | ||||||||||||||||||||||||||
| Expense ratio | [5] | 0.95% | 0.95% | 0.95% | 0.95% | |||||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees | [5] | 0.95% | 0.95% | 0.95% | 0.95% | |||||||||||||||||||||
| Net investment income (loss) | [5] | (0.88%) | 1.36% | (0.11%) | 1.32% | |||||||||||||||||||||
| ProShares VIX Mid-Term Futures ETF [Member] | ||||||||||||||||||||||||||
| Investment Company, Financial Highlights [Line Items] | ||||||||||||||||||||||||||
| Net asset value, beginning balance | $ 38.74 | $ 21.64 | $ 21.27 | $ 26.65 | ||||||||||||||||||||||
| Net investment income (loss) | (0.09) | 0.07 | (0.05) | 0.14 | ||||||||||||||||||||||
| Net realized and unrealized gain (loss) | [1] | 1.75 | (0.29) | 19.18 | (5.37) | |||||||||||||||||||||
| Change in net asset value from operations | 1.66 | (0.22) | 19.13 | (5.23) | ||||||||||||||||||||||
| Net asset value, ending balance | 40.40 | 21.42 | 40.40 | 21.42 | ||||||||||||||||||||||
| Market value per share, beginning balance | [2] | 38.44 | 21.59 | 21.29 | 26.74 | |||||||||||||||||||||
| Market value per share, ending balance | [2] | $ 40.24 | $ 21.63 | $ 40.24 | $ 21.63 | |||||||||||||||||||||
| Total Return, at net asset value | 4.30% | [3] | (1.00%) | [4] | 90.00% | [3] | (19.60%) | [4] | ||||||||||||||||||
| Total Return, at market value | 4.70% | [3] | 0.20% | [4] | 89.00% | [3] | (19.10%) | [4] | ||||||||||||||||||
| Ratios to Average Net Assets | ||||||||||||||||||||||||||
| Expense ratio | [5] | 1.10% | 0.95% | 1.06% | 0.94% | |||||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees | [5] | 0.85% | 0.85% | 0.85% | 0.85% | |||||||||||||||||||||
| Net investment income (loss) | [5] | (0.91%) | 1.37% | (0.33%) | 1.28% | |||||||||||||||||||||
| ProShares VIX Short-Term Futures ETF [Member] | ||||||||||||||||||||||||||
| Investment Company, Financial Highlights [Line Items] | ||||||||||||||||||||||||||
| Net asset value, beginning balance | $ 37.96 | $ 24.08 | $ 12.30 | $ 38.58 | ||||||||||||||||||||||
| Net investment income (loss) | (0.07) | 0.07 | (0.02) | 0.15 | ||||||||||||||||||||||
| Net realized and unrealized gain (loss) | [1] | (9.96) | (3.29) | 15.65 | (17.87) | |||||||||||||||||||||
| Change in net asset value from operations | (10.03) | (3.22) | 15.63 | (17.72) | ||||||||||||||||||||||
| Net asset value, ending balance | 27.93 | 20.86 | 27.93 | 20.86 | ||||||||||||||||||||||
| Market value per share, beginning balance | [2] | 37.93 | 24.02 | 12.43 | 38.61 | |||||||||||||||||||||
| Market value per share, ending balance | [2] | $ 27.76 | $ 21.40 | $ 27.76 | $ 21.40 | |||||||||||||||||||||
| Total Return, at net asset value | (26.40%) | [3] | (13.40%) | [4] | 127.10% | [3] | (45.90%) | [4] | ||||||||||||||||||
| Total Return, at market value | (26.80%) | [3] | (10.90%) | [4] | 123.30% | [3] | (44.60%) | [4] | ||||||||||||||||||
| Ratios to Average Net Assets | ||||||||||||||||||||||||||
| Expense ratio | [5] | 1.21% | 0.98% | 1.15% | 0.94% | |||||||||||||||||||||
| Expense ratio, excluding non-recurring fees and expenses, and brokerage commissions and fees | [5] | 0.85% | 0.85% | 0.85% | 0.85% | |||||||||||||||||||||
| Net investment income (loss) | [5] | (0.95%) | 1.27% | (0.25%) | 1.20% | |||||||||||||||||||||
| ||||||||||||||||||||||||||
Financial Highlights - Per Share Operating Performance (Parenthetical) (Detail) |
6 Months Ended |
|---|---|
Jun. 30, 2019 | |
| ProShares Short VIX Short-Term Futures ETF [Member] | |
| Investment Company, Financial Highlights [Line Items] | |
| Expense ratio, excluding non-recurring fees and expenses | 1.16% |
| ProShares Ultra VIX Short-Term Futures ETF [Member] | |
| Investment Company, Financial Highlights [Line Items] | |
| Expense ratio, excluding non-recurring fees and expenses | 1.52% |
Risk - Additional Information (Detail) |
6 Months Ended |
|---|---|
Jun. 30, 2020 | |
| Unusual Risk or Uncertainty [Line Items] | |
| Inverse correlation, description | The return of a Geared Fund for a period longer than a single 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 one-half the inverse (-0.5x), the inverse (-1x), two times the inverse (-2x), three times the inverse (-3x), one and one-half times (1.5x) the return, two times (2x) of the return or three times of the return (3x) of the Geared Fund’s benchmark for the period. |
| Ultrashort Fund [Member] | |
| Unusual Risk or Uncertainty [Line Items] | |
| Leverage risk benchmark | 50.00% |
| UltraPro Fund and UltraPro Short Fund [Member] | |
| Unusual Risk or Uncertainty [Line Items] | |
| Leverage risk benchmark | 33.00% |
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