XML 344 R85.htm IDEA: XBRL DOCUMENT v3.25.1
Label Element Value
Risk Return Abstract rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName ProShares Trust
Prospectus Date rr_ProspectusDate Apr. 07, 2025
ProShares Equities for Rising Rates ETF  
Risk Return Abstract rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Equities For Rising Rates ETF
Objective [Heading] rr_ObjectiveHeading <span style="color:#000000;font-family:Arial Narrow;font-size:11pt;font-weight:bold;">Investment Objective</span>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock ProShares Equities for Rising Rates ETF (the “Fund”) seeks investment results, before fees and expenses, that track the performance of the Nasdaq U.S. Large Cap Equities for Rising Rates Index (the “Index”). The goal of the Index is to provide relative outperformance, as compared to traditional large-cap indexes, during periods of rising U.S. Treasury interest rates (“interest rates”).
Objective, Secondary [Text Block] rr_ObjectiveSecondaryTextBlock

The goal of the Index is to provide relative outperformance, as compared to traditional large-cap indexes, during periods of rising U.S. Treasury interest rates ("interest rates").
Expense [Heading] rr_ExpenseHeading <span style="color:#000000;font-family:Arial Narrow;font-size:11pt;font-weight:bold;">Fees and Expenses of the Fund</span>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The table below describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <span style="color:#000000;font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0.0pt;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:9pt;margin-left:0.0pt;">(expenses that you pay each year as a percentage </span><span style="color:#000000;font-family:Arial;font-size:9pt;margin-left:0.0pt;">of the value of your investment)</span>
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <span style="color:#000000;font-family:Arial Narrow;font-size:11pt;font-weight:bold;">Portfolio Turnover</span>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the Fund’s shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the example above, affect the Fund’s performance. During the most recent fiscal year, the Fund’s annual portfolio turnover rate was 144% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 144.00%
Expense Example [Heading] rr_ExpenseExampleHeading <span style="color:#000000;font-family:Arial Narrow;font-size:9pt;font-weight:bold;margin-left:0%;">Example:</span>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of each period. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your approximate costs would be:
Expense Example Closing [Text Block] rr_ExpenseExampleClosingTextBlock The Fund pays transaction and financing costs associated with the purchase and sale of securities. These costs are not reflected in the table or the example above.
Strategy [Heading] rr_StrategyHeading <span style="color:#000000;font-family:Arial Narrow;font-size:11pt;font-weight:bold;">Principal Investment Strategies</span>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests in financial instruments that ProShare Advisors believes, in combination, should track the performance of the Index.The Index is designed to measure the performance of companies in the Nasdaq U.S. Large Cap Index whose stock prices have historically exhibited relatively high correlation to movements in interest rates. The Nasdaq U.S. Large Cap Index is designed to measure the performance of the largest companies in the United States. Each quarter, each company and each industry included in the Nasdaq U.S. Large Cap Index is evaluated and ranked based on its weekly market-neutral correlation with the U.S. 10-year Treasury yield over the prior three years. The five industries with the highest industry correlation are selected. Within each of those five industries, the 10 companies with the highest correlation are selected to be components of the Index. The components of the Index are weighted based on the rank of their industry and their market capitalization. The highest correlated industry receives a 30% weight in the Index; 2nd highest: 25%; 3rd highest: 20%; 4th highest: 15%; 5th highest: 10%. The Index’s composition and weightings are reevaluated quarterly in March, June, September, and December. The Index is constructed and maintained by Nasdaq Inc. More information about the Index can be found using the Bloomberg ticker symbol “NQERRT.”Under normal circumstances, the Fund will invest at least 80% of its total assets in components of the Index or in instruments with similar economic characteristics.The Fund will invest principally in the financial instruments listed below.●Equity Securities — Common stock issued by public companies.ProShare Advisors uses a mathematical approach to investing in which it determines the type, quantity and mix of investment positions that it believes, in combination, the Fund should hold to produce returns consistent with its investment objective. The Fund seeks to remain fully invested at all times in financial instruments that, in combination, provide exposure consistent with the investment objective, without regard to market conditions, trends or direction. The Fund will generally use a “replication strategy” to achieve its investment objective, meaning that it will invest in all of the component securities of the Index in approximately the same proportion as the Index. However, the Fund may also use a “representative sampling” strategy to invest in or gain exposure to only a representative sample of the securities in the Index or to securities not contained in the Index or in financial instruments, with the intent of obtaining exposure with aggregate characteristics similar to those of the Index. For example, the Fund may utilize a representative sampling strategy when the Advisor believes a replication strategy might be detrimental or disadvantageous to shareholders, such as when buying each security in an Index is impracticable or inefficient, or when there are practical difficulties or additional costs involved in replicating an Index. The Fund also may use representative sampling if the Advisor believes one or more securities in the Index becomes illiquid, unavailable or less liquid, or as a result of legal restrictions or limitations (such as tax diversification requirements) that apply to the Fund.Please see “Investment Objectives, Principal Investment Strategies and Related Risks” in the Fund’s Prospectus for additional details.
Risk [Heading] rr_RiskHeading <span style="color:#000000;font-family:Arial Narrow;font-size:11pt;font-weight:bold;">Principal Risks</span>
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <span style="color:#000000;font-family:Arial Narrow;font-size:11pt;font-weight:bold;">Investment Results</span>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart below shows how the Fund’s investment results have varied from year to year, and the table shows how the Fund’s average annual total returns for various periods compare with different broad measures of market performance.This information provides some indication of the risks of investing in the Fund. Past results (before and after taxes) are not predictive of future results. Updated information on the Fund’s results can be obtained by visiting the Fund’s website (www.proshares.com).
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The bar chart below shows how the Fund’s investment results have varied from year to year, and the table shows how the Fund’s average annual total returns for various periods compare with different broad measures of market performance.</span>
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress <span style="color:#000000;font-family:Arial;font-size:10pt;">(www.proshares.com)</span>
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture <span style="color:#000000;font-family:Arial;font-size:10pt;">Past results (before and after taxes) are </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">not predictive of future results.</span>
Bar Chart [Heading] rr_BarChartHeading <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Returns as of December 31</span>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Best Quarter(ended12/31/2020):31.21%Worst Quarter(ended3/31/2020):-44.89%Year-to-Date(ended6/30/2024):9.50%
Performance Table Heading rr_PerformanceTableHeading <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Average Annual Total Returns</span><span style="color:#000000;font-family:Arial;font-size:10pt;">As of December 31, 2023</span>
Performance Table Market Index Changed rr_PerformanceTableMarketIndexChanged <span style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;">After the close of business on November 13, 2024, the Fund’s broad-based securities market index was changed from the Nasdaq-100 Index to the Nasdaq Composite Index to provide a broader measure of performance for comparative purposes.</span>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate <span style="color:#000000;font-family:Arial;font-size:10pt;">After-tax returns are calculated using </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span>
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">not relevant to investors who hold shares through tax-deferred arrangements, such as a retirement account.</span>
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher <span style="color:#000000;font-family:Arial;font-size:10pt;"> After-tax</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;"> returns may exceed the return before taxes due to a tax </span><span style="color:#000000;font-family:Arial;font-size:10pt;">benefit from realizing a capital loss on a sale of shares.</span>
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Average annual total returns are shown on a before- and after-tax basis for the Fund. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold shares through tax-deferred arrangements, such as a retirement account. After-tax returns may exceed the return before taxes due to a tax benefit from realizing a capital loss on a sale of shares.
ProShares Equities for Rising Rates ETF | Risk Lose Money [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock You could lose money by investing in the Fund.
ProShares Equities for Rising Rates ETF | Investment Style Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock ●Investment Style Risk — Market performance tends to be cyclical; certain investment styles may fall in and out of favor. If the market is not favoring the Fund’s investment approach, the Fund’s performance may lag behind other funds using different investment styles. Performance of the Index (and as a result the Fund) could be particularly poor if the equity market declines at the same time that interest rates fall. There is no guarantee that the Index, and accordingly, the Fund, will have positive performance even in environments when the Universe has positive returns and interest rates are rising sharply. The Index historically has been more volatile than an investment in a traditional market-cap weighted large-cap equity index.
ProShares Equities for Rising Rates ETF | Equity Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock ●Equity and Market Risk — Equity markets are volatile, and the value of equity securities and other instruments correlated with equity markets may fluctuate dramatically from day to day. Equity markets are subject to corporate, political, regulatory, market and economic developments, as well as developments that impact specific economic sectors, industries or segments of the market.
ProShares Equities for Rising Rates ETF | Interest Rate Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock ●Interest Rate Risk — Interest rate risk is the risk that debt instruments or related financial instruments may fluctuate in value due to changes in interest rates. A wide variety of factors can cause interest rates to fluctuate (e.g., central bank monetary policies, inflation rates, general economic conditions, etc.). Commonly, investments subject to interest rate risk will decrease in value when interest rates rise and increase in value when interest rates decline. A rising interest rate environment may cause the value of debt instruments to decrease and adversely impact the liquidity of debt instruments. Without taking into account other factors, the value of securities with longer maturities typically fluctuates more in response to interest rate changes than securities with shorter maturities. These factors may cause the value of an investment in the Fund to change.
ProShares Equities for Rising Rates ETF | Correlation Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock ●Correlation Risk — A number of factors may affect the Fund’s ability to achieve a high degree of correlation with the Index. Fees, expenses, transaction costs, among other factors, will adversely impact the Fund’s ability to meet its investment objective. In addition, the Fund’s exposure may not be consistent with the Index. For example, the Fund may not have exposure to all of the securities in the Index, its weighting of securities may be different from that of the Index, and it may invest in instruments not included in the Index.
ProShares Equities for Rising Rates ETF | Concentration-Focus Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock ●Industry Concentration Risk — The Index may have a significant portion of its value in issuers in an industry or group of industries. The Fund will allocate its investments to approximately the same extent as the Index. As a result, the Fund may be subject to greater market fluctuations than a fund that is more broadly invested across industries. As of May 31, 2024, the Index had a significant portion of its value in issuers in the consumer staples, energy and financials industry groups.
ProShares Equities for Rising Rates ETF | Consumer Staples Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock ○Consumer Staples Industry Risk — The risks of investments in the industry include: governmental regulation affecting the permissibility of using various food additives and production methods that could affect profitability; new laws or litigation that may adversely affect tobacco companies; fads, marketing campaigns and other factors affecting supply and demand that may strongly affect securities prices and profitability of food, soft drink and fashion related products; and international events that may affect food and beverage companies that derive a substantial portion of their net income from foreign countries.
ProShares Equities for Rising Rates ETF | Energy Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock ○Energy Industry Risk — Companies in this industry may experience: adverse effects on profitability from changes in worldwide energy prices and exploration, and production spending; adverse effects from changes in exchange rates, government regulation, world events, international conflicts or threat of conflicts and economic conditions; and market, economic and political risks of the countries where energy companies are located or do business. The energy industry has recently experienced significant volatility due to dramatic changes in the prices of energy commodities, and it is possible that such volatility will continue in the future.
ProShares Equities for Rising Rates ETF | Financials Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock ○Financials Industry Risk — Companies in this industry may experience: extensive governmental regulation and/or nationalization that affects the scope of their activities, the prices they can charge and the amount of capital they must maintain; adverse effects from increases in interest rates; adverse effects on profitability by loan losses; and severe competition.
ProShares Equities for Rising Rates ETF | Index Performance Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock ●Index Performance Risk — The Index used by the Fund may underperform other asset classes and may underperform other similar indices. The Index is maintained by a third party provider unaffiliated with the Fund or ProShare Advisors. There can be no guarantee that the Index will perform better in periods of rising rates than other indexes (such as the S&P 500) or investments. Further, there can be no guarantee that the methodology underlying the Index or the daily calculation of the Index will be free from error. The component securities of the Universe differ from the component securities of the S&P 500, which may cause the Index to underperform the S&P 500.
ProShares Equities for Rising Rates ETF | Market Price Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock ●Market Price Variance Risk — Investors buy and sell Fund shares in the secondary market at market prices. Market prices may be different from the NAV per share of the Fund (i.e., the secondary market price may trade at a price greater than NAV (a premium) or less than NAV (a discount)). The market price of the Fund’s shares will fluctuate in response to changes in the value of the Fund’s holdings, supply and demand for shares and other market factors.
ProShares Equities for Rising Rates ETF | Early Close Late Close Trading Halt Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock ●Early Close/Late Close/Trading Halt Risk — An exchange or market may close early, close late or issue trading halts on specific securities or financial instruments. In these circumstances, the Fund may be unable to rebalance its portfolio, may be unable to accurately price its investments and/or may incur substantial trading losses.
ProShares Equities for Rising Rates ETF | None  
Risk Return Abstract rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.35%
Other Expenses rr_OtherExpensesOverAssets none
Total Annual Fund Operating Expenses Before Fee Waivers and Expense Reimbursements rr_ExpensesOverAssets 0.35%
1 Year rr_ExpenseExampleYear01 $ 36
3 Years rr_ExpenseExampleYear03 113
5 Years rr_ExpenseExampleYear05 197
10 Years rr_ExpenseExampleYear10 $ 443
2018 rr_AnnualReturn2015 (17.88%)
2019 rr_AnnualReturn2016 19.39%
2020 rr_AnnualReturn2017 (9.78%)
2021 rr_AnnualReturn2018 35.11%
2022 rr_AnnualReturn2019 2.39%
2023 rr_AnnualReturn2020 9.08%
Year to Date Return, Label rr_YearToDateReturnLabel <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year-to-Date</span>
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2024
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 9.50%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">Best Quarter</span>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2020
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 31.21%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">Worst Quarter</span>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Mar. 31, 2020
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (44.89%)
OneYear rr_AverageAnnualReturnYear01 9.08%
5 Years rr_AverageAnnualReturnYear05 10.20%
SinceInception rr_AverageAnnualReturnSinceInception 7.17%
InceptionDate rr_AverageAnnualReturnInceptionDate Jul. 24, 2017
ProShares Equities for Rising Rates ETF | After Taxes on Distributions | None  
Risk Return Abstract rr_RiskReturnAbstract  
OneYear rr_AverageAnnualReturnYear01 8.32%
5 Years rr_AverageAnnualReturnYear05 9.57%
SinceInception rr_AverageAnnualReturnSinceInception 6.58%
ProShares Equities for Rising Rates ETF | After Taxes on Distributions and Sales of Shares | None  
Risk Return Abstract rr_RiskReturnAbstract  
OneYear rr_AverageAnnualReturnYear01 5.84%
5 Years rr_AverageAnnualReturnYear05 7.98%
SinceInception rr_AverageAnnualReturnSinceInception 5.57%
ProShares Equities for Rising Rates ETF | Nasdaq-100® Index  
Risk Return Abstract rr_RiskReturnAbstract  
OneYear rr_AverageAnnualReturnYear01 55.13% [1]
5 Years rr_AverageAnnualReturnYear05 22.65% [1]
SinceInception rr_AverageAnnualReturnSinceInception 18.65% [1]
ProShares Equities for Rising Rates ETF | Nasdaq Composite Index  
Risk Return Abstract rr_RiskReturnAbstract  
OneYear rr_AverageAnnualReturnYear01 44.64% [1],[2]
5 Years rr_AverageAnnualReturnYear05 18.74% [1],[2]
SinceInception rr_AverageAnnualReturnSinceInception 15.18% [1],[2]
ProShares Equities for Rising Rates ETF | Nasdaq U.S. Large Cap Equities for Rising Rates Index  
Risk Return Abstract rr_RiskReturnAbstract  
OneYear rr_AverageAnnualReturnYear01 9.46% [1]
5 Years rr_AverageAnnualReturnYear05 10.62% [1]
SinceInception rr_AverageAnnualReturnSinceInception 7.58% [1]
[1] Reflects no deduction for fees, expenses or taxes. Adjusted to reflect the reinvestment of dividends paid by issuers in the Index. “Since Inception” returns are calculated from the date the Fund commenced operations, not the date of inception of the Index.
[2] After the close of business on November 13, 2024, the Fund’s broad-based securities market index was changed from the Nasdaq-100 Index to the Nasdaq Composite Index to provide a broader measure of performance for comparative purposes.