ProShares Trust II plans 26 funds geared toward currency exchange rate

By Toni Weeks

San Diego, Dec. 22 - ProShares Trust II completed an initial registration of shares of 26 new series, according to an S-1 filing with the Securities and Exchange Commission.

The sponsor is Bethesda, Md.-based ProShare Capital Management LLC.

Each of the series, or funds, will be offered from time to time on a continuous basis in blocks of 50,000 shares. They will trade on the NYSE Arca but have not yet commenced trading and do not have ticker symbols yet.

Each of the funds is a "geared" fund, with an investment objective to match a multiple or an inverse multiple of the performance of a benchmark for a single day.

Each benchmark is based on an underlying currency exchange rate but the funds do not intend to invest directly in any currency. Instead, they will seek exposure to the applicable currency benchmark through investments in currency-based instruments whose value is derived from the value of an underlying currency, including futures contracts, forward contracts and others.

An initial participant is expected to purchase two units of 50,000 shares of each fund at a price of $40 per share, or $2 million for a block of 50,000 units.

Each fund will pay ProShare Capital a management fee of 0.95% of a fund's average daily net asset value. Total fees and expenses are expected to be between $0.39 and $0.44 per share, depending on the fund.

The registration was for a token $1 million of shares for each fund.

The planned new funds and their currency benchmarks are as follows:

ProShares UltraPro Australian Dollar U.S. dollar price of Australian dollar

ProShares UltraPro Canadian Dollar U.S. dollar price of Canadian dollar

PorShares UltraPro Euro U.S. dollar price of euro

ProShares UltraPro Swiss Franc U.D. dollar price of Swiss franc

ProShares UltraPro U.S. Dollar ICE U.S. Dollar Index

ProShares UltraPro Yen U.S. dollar price of Japanese yen

Proshares Ultra Australian Dollar U.S. dollar price of Australian dollar

ProShares Ultra Canadian Dollar U.S. dollar price of Canadian dollar

ProShares Ultra Swiss Franc U.S. dollar price of Swiss franc

ProShares Ultra U.S. Dollar ICE U.S. Dollar Index

ProShares Short Australian Dollar U.S. dollar price of Australian dollar

ProShares Short Canadian Dollar U.S. dollar price of Canadian dollar

ProShares Short Euro U.S. dollar price of euro

ProShares Short Swiss Franc U.S. dollar price of Swiss franc

ProShares Short U.S. Dollar ICE U.S. Dollar Index

ProShares Short Yen U.S. dollar price of Japanese yen

ProShares UltraShort Australian Dollar U.S. dollar price of Australian dollar

ProShares UltraShort Canadian Dollar U.S. dollar price of Canadian dollar

ProShares UltraShort Swiss Franc U.S. dollar price of Swiss franc

ProShares UltraShort U.S. Dollar ICE U.S. Dollar Index

ProShares UltraPro Short Australian Dollar U.S. dollar price of Australian dollar

ProShares UltraPro Short Canadian Dollar U.S. dollar price of Canadian dollar

ProShares UltraPro Short Euro U.S. dollar price of euro

ProShaes UltraPro Short Swiss Franc U.S. dollar price of Swiss franc

ProShares UltraPro Short U.S. Dollar ICE U.S. Dollar Index

ProShares UltraPro Short Yen U.S. dollar price of Japanese yen

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