ProShares UltraShort Yen (YCS)

Overview

The fund, as described, is designed with the objective of achieving its investment goals by primarily engaging in trades involving various financial instruments that mirror the performance of its benchmark index. Its strategy encompasses not only direct investments in an array of financial instruments but also holding reserves in highly liquid and secure assets. These reserves, comprising U.S. Treasury securities or similarly safe, short-term fixed-income securities, serve both as collateral for the financial instruments the fund trades in and as a liquidity buffer to facilitate timely investments in these instruments. This approach underscores the fund's commitment to maintaining a balance between seeking growth through market participation and safeguarding investors' capital against undue risk.

Products and Services

The fund's product and service offerings can be categorized as follows:

• Investment in Financial Instruments

  The fund commits a significant portion of its assets to financial instruments that track the performance of its benchmark index. These instruments can vary widely in nature and may include but are not limited to, derivatives such as futures, options, and swap contracts. This strategy aims to leverage market movements to achieve the fund's investment objectives.

• Cash or Cash Equivalents Holdings

  As part of its risk management strategy, the fund maintains a proportion of its portfolio in cash or high-quality, short-term fixed-income securities. These holdings, which may include U.S. Treasury securities among other similar securities, provide the dual benefits of securing collateral for the financial instruments the fund invests in and ensuring sufficient liquidity for making timely investments. This prudent approach is reflective of the fund’s emphasis on capital preservation while striving for growth.