XML 345 R86.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 Global Listed Private Equity ETF  
Risk Return Abstract rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Global Listed Private Equity 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 Global Listed Private Equity ETF (the “Fund”) seeks investment results, before fees and expenses, that track the performance of the LPX Direct Listed Private Equity Index (the “Index”).
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>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination <span style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;">September 30, </span><span style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;">2025</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 18% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 18.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees <span style="color:#000000;font-family:Arial;font-size:8pt;font-style:italic;">“Acquired Fund Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies (such as exchange-traded funds). They are not direct costs paid by Fund shareholders and are not used to calculate the Fund’s net asset value (“NAV”). “Acquired Fund Fees and Expenses” are not directly borne by the Fund and are not reflected in the Fund’s Financial Statements in the annual report. Therefore, the amounts listed in “Total Annual Fund Operating Expenses” will differ from those presented in the Fund’s Financial Highlights in the Fund’s Prospectus.</span>
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, except that the fee waiver/expense reimbursement is assumed only to pertain to the first year. 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 the most actively traded listed private equity companies that mainly pursue a direct private equity investment strategy. A company may be selected if its direct private equity investments represent more than 80% of the total assets of the company and the company meets certain liquidity requirements. The Index selects 30 companies based on market capitalization. Selected companies are weighted based on market capitalization, subject to a 10% limit. The composition of the Index and the assigned weights are reevaluated each quarter in January, April, July, and October. The Index is constructed and maintained by LPX AG. More information about the Index can be found using the Bloomberg ticker symbol “LPXDITU.”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 U.S. and foreign public companies, including in large part business development companies (“BDCs”) for U.S. domiciled companies. BDCs are specialized investment vehicles that provide financing to small- and middle-market companies and offer managerial expertise, as needed, to assist those 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. In addition, the Fund’s performance information reflects applicable fee waivers and/or expense limitations, if any, in effect during the periods presented. Absent such fee waivers/expense limitations, if any, performance would have been lower. 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 </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">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 </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">taxes) are 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(ended6/30/2020):22.27%Worst Quarter(ended3/31/2020):-37.94%Year-to-Date(ended6/30/2024):7.44%
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 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 Global Listed Private Equity ETF | Risk Nondiversified Status [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Non-Diversification Risk — The Fund has the ability to invest a relatively high percentage of its assets in the securities of a small number of issuers or in financial instruments with a single counterparty or a few counterparties. This may increase the Fund’s volatility and increase the risk that the Fund’s performance will decline based on the performance of a single issuer or the credit of a single counterparty.
ProShares Global Listed Private Equity 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 Global Listed Private Equity ETF | Listed Private Equity Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Risks Relating to Investing in Listed Private Equity Companies — The Fund is subject to risks faced by companies in the private equity sector, in particular the returns of such companies’ underlying investments. There are certain risks inherent in investing in listed private equity companies, which encompass BDCs and other financial institutions whose principal business is to invest in and provide mezzanine financing to privately held companies. Generally, little public information exists for privately held companies, and there is a risk that investors in such companies may not be able to make a fully informed investment decision. Private equity securities also carry risks associated with unclear ownership and market access constraints. In addition, at times, a private equity company may hold a significant portion of its assets in cash or cash equivalents (e.g., after divesting itself of its interests in a portfolio company upon the portfolio company’s IPO, merger or recapitalization). This may result in lower returns than if the private equity company had invested such cash or cash equivalents in successful portfolio companies.
ProShares Global Listed Private Equity ETF | Foreign-EM Markets Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Foreign Investments/Emerging Market Risk — Exposure to securities of foreign issuers may provide the Fund with increased risk. Foreign investments may be more susceptible to political, social, economic and regional factors than may be the case with U.S. securities. In addition, markets for foreign investments are usually less liquid, more volatile and significantly smaller than markets for U.S. securities, which may affect, among other things, the Fund’s ability to purchase or sell foreign investments at appropriate times and prices. Because of differences in settlement times and/or foreign market holidays, transactions in a foreign market may take place one or more days after the necessary exposure to these investments is determined.Because the Fund’s foreign investment exposure may include issuers domiciled in developing or “emerging market” countries, all the aforementioned factors are heightened. Investments in emerging markets are considered speculative.
ProShares Global Listed Private Equity ETF | Foreign Currency Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Foreign Currency Risk — Investments linked to or denominated in foreign currencies are exposed to additional risk factors versus those investments denominated in U.S. dollars and linked to U.S. investments. The value of an investment linked to or denominated in a foreign currency could change significantly as foreign currencies strengthen or weaken relative to the U.S. dollar. In certain “restricted market” countries (which limit the ability of non-nationals to transact in those countries’ currencies), the Fund will be limited in its ability to use multiple dealers to obtain exchange rates. This may result in potentially higher costs for the Funds, and increased correlation risk. Further limitations on dealers may cause delays in execution, which may also increase correlation risk.
ProShares Global Listed Private Equity 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 Global Listed Private Equity ETF | Risks Relating to Investing in Business Development Companies BDCs [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Risks Relating to Investing in Business Development Companies (BDCs) — BDCs are special investment vehicles designed to facilitate capital formation for small and middle-market companies. A BDC is a domestic company that operates for the purpose of making investments in certain securities and, with limited exceptions, makes available “significant managerial assistance” with respect to the issuers of such securities. The Fund is subject to risks faced by BDCs, including: increasing competition for limited BDC investment opportunities; potential uncertainty as to the value of a BDC’s private investments; risks associated with leverage; and reliance on a BDC’s managerial acumen.In addition, significant portion of the Index is composed of BDCs or other investment companies. The Fund may not acquire greater than three percent (3%) of the total outstanding shares of such companies. As a result, the Fund’s ability to purchase certain of the securities in the Index in the proportions represented in the Index could be inhibited. In these circumstances, the Fund may be required to use sampling techniques, which could increase “Correlation Risk”, as described above.
ProShares Global Listed Private Equity 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 Global Listed Private Equity 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 financial services industry group.
ProShares Global Listed Private Equity 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 Global Listed Private Equity 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 methodology underlying the Index or the daily calculation of the Index will be free from error.
ProShares Global Listed Private Equity 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 Global Listed Private Equity 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 Global Listed Private Equity ETF | None  
Risk Return Abstract rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.50%
Other Expenses rr_OtherExpensesOverAssets 1.82%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 2.39% [1]
Total Annual Fund Operating Expenses Before Fee Waivers and Expense Reimbursements rr_ExpensesOverAssets 4.71%
Fee Waiver/Reimbursement rr_FeeWaiverOrReimbursementOverAssets (1.72%) [2]
Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursements rr_NetExpensesOverAssets 2.99%
1 Year rr_ExpenseExampleYear01 $ 302
3 Years rr_ExpenseExampleYear03 1,266
5 Years rr_ExpenseExampleYear05 2,235
10 Years rr_ExpenseExampleYear10 $ 4,683
2014 rr_AnnualReturn2015 (2.64%)
2015 rr_AnnualReturn2016 4.41%
2016 rr_AnnualReturn2017 11.06%
2017 rr_AnnualReturn2018 15.01%
2018 rr_AnnualReturn2019 (13.23%)
2019 rr_AnnualReturn2020 24.93%
2020 rr_AnnualReturn2021 (0.60%)
2021 rr_AnnualReturn2022 27.41%
2022 rr_AnnualReturn2023 (25.58%)
2023 rr_AnnualReturn2024 22.95%
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 7.44%
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 Jun. 30, 2020
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 22.27%
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 (37.94%)
OneYear rr_AverageAnnualReturnYear01 22.95%
FiveYears rr_AverageAnnualReturnYear05 7.68%
TenYears rr_AverageAnnualReturnYear10 5.01%
ProShares Global Listed Private Equity ETF | After Taxes on Distributions | None  
Risk Return Abstract rr_RiskReturnAbstract  
OneYear rr_AverageAnnualReturnYear01 17.71%
FiveYears rr_AverageAnnualReturnYear05 4.66%
TenYears rr_AverageAnnualReturnYear10 1.84%
ProShares Global Listed Private Equity ETF | After Taxes on Distributions and Sales of Shares | None  
Risk Return Abstract rr_RiskReturnAbstract  
OneYear rr_AverageAnnualReturnYear01 14.44%
FiveYears rr_AverageAnnualReturnYear05 4.99%
TenYears rr_AverageAnnualReturnYear10 2.70%
ProShares Global Listed Private Equity ETF | S&P Global 1200 Index  
Risk Return Abstract rr_RiskReturnAbstract  
OneYear rr_AverageAnnualReturnYear01 23.38% [3]
FiveYears rr_AverageAnnualReturnYear05 13.07% [3]
TenYears rr_AverageAnnualReturnYear10 9.11% [3]
ProShares Global Listed Private Equity ETF | LPX Direct Listed Private Equity Index  
Risk Return Abstract rr_RiskReturnAbstract  
OneYear rr_AverageAnnualReturnYear01 24.04% [4]
FiveYears rr_AverageAnnualReturnYear05 8.27% [4]
TenYears rr_AverageAnnualReturnYear10 5.44% [4]
[1] “Acquired Fund Fees and Expenses” are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies (such as exchange-traded funds). They are not direct costs paid by Fund shareholders and are not used to calculate the Fund’s net asset value (“NAV”). “Acquired Fund Fees and Expenses” are not directly borne by the Fund and are not reflected in the Fund’s Financial Statements in the annual report. Therefore, the amounts listed in “Total Annual Fund Operating Expenses” will differ from those presented in the Fund’s Financial Highlights in the Fund’s Prospectus.
[2] ProShare Advisors LLC (“ProShare Advisors”) has agreed to waive fees and to reimburse expenses (excluding Acquired Fund Fees and Expenses) to the extent Total Annual Fund Operating Expenses Before Fee Waivers and Expense Reimbursements, as a percentage of average daily net assets, exceed 0.60% through September 30, 2025. Amounts waived or reimbursed in a particular contractual period may be recouped by ProShare Advisors within five years subject to certain limitations.
[3] Reflects no deduction for fees, expenses or taxes. Adjusted to reflect the reinvestment of dividends paid by issuers in the Index.
[4] Reflects no deduction for fees, expenses or taxes. Reflects the reinvestment of dividends paid by issuers in the Index.