ProShares Trust II sets VIXM 1-for-2 reverse split

Fractional post-split shares will be redeemed for cash and sent to shareholders’ brokers, a redemption that may result in gains or losses and could be taxable.

Available on EDGAR 11/03/2026 - 04:44 PM EST Accepted by SEC EDGAR 11/03/2026 - 04:43 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

ProShares Trust II disclosed that ProShares VIX Mid-Term Futures ETF (VIXM) will undergo a 1-for-2 reverse split effective before market open on November 19, 2026. Each two pre-split shares will become one post-split share, and the ticker symbol will remain VIXM.

The announcement states that the split will not change the total value of a shareholder’s investment; the per-share price will be twice the pre-split net asset value as the number of shares decreases proportionately. Fractional post-split shares will be redeemed for cash and sent to the shareholder’s broker. That redemption may result in gains or losses and could be a taxable event.

8-K Event Classification

2 items: 8.01, 9.01

2 items

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

VIXM reverse split ratio: 1-for-2 VIXM reverse split effective date: November 19, 2026 Illustrative pre-split shares: 1,000 shares +1 more

4 metrics

VIXM reverse split ratio 1-for-2 Each two pre-split shares become one post-split share.

VIXM reverse split effective date November 19, 2026 Effective prior to market open.

Illustrative pre-split shares 1,000 shares Hypothetical one-for-two reverse split illustration.

Illustrative post-split shares 500 shares Hypothetical one-for-two reverse split illustration.

Key Terms

Reverse Split, fractional shares, net asset value

3 terms

Reverse Split financial

"execute a 1 for 2 Reverse Split of its shares"

A reverse split is when a company reduces the number of its outstanding shares by combining several existing shares into one new share, so the price per share rises proportionally while the company’s overall value stays the same. Investors care because it can make a stock appear more respectable or meet exchange rules — like turning many small coins into a single larger bill — but it can also signal financial trouble and often affects trading liquidity and investor perception.

fractional shares financial

"Post-Reverse Split fractional shares will be redeemed for cash"

Fractional shares are portions of a whole share of a stock or fund, allowing investors to own less than one full unit. They make it possible to invest a specific dollar amount rather than buy whole shares, like buying a slice of a pizza instead of the entire pie. For investors this lowers the cost barrier, helps with diversification, and lets you reinvest dividends or purchase expensive stocks in small, precise amounts.

net asset value financial

"two times higher than the net asset value of a pre-Reverse Split share"

Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.

Stock Split

1-for-2 reverse split · Effective November 19, 2026

Split Ratio 1-for-2 reverse split

Effective Date November 19, 2026

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What reverse split did ProShares Trust II (AGQ) announce for VIXM?

ProShares VIX Mid-Term Futures ETF (VIXM) will have a 1-for-2 reverse split effective before market open on November 19, 2026. The ticker symbol will remain VIXM.

How are fractional VIXM shares handled in the AGQ reverse split?

Post-reverse-split fractional shares will be redeemed for cash and sent to the shareholder’s broker of record. This redemption may cause some shareholders to realize gains or losses and could be a taxable event.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CboeBZX false 0001415311 0001415311 2026-11-03 2026-11-03

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 3, 2026

ProShares Trust II

(Exact name of registrant as specified in its charter)

Delaware		001-34200		87-6284802
(State or other jurisdiction of incorporation)		(Commission File No.)		(I.R.S. Employer Identification No.)

Todd B. Johnson

c/o ProShares Trust II

7272 Wisconsin Avenue, 21st Floor

Bethesda, Maryland 20814

(240) 497-6400

(Name, address, including zip code, and telephone number, including area code, of agent for service)

Copies to:

Erin E. Martin

c/o Morgan Lewis & Bockius LLP

1111 Pennsylvania Avenue, NW

Washington, DC 20004

and

Richard F. Morris

c/o ProShare Capital Management LLC

7272 Wisconsin Avenue, 21st Floor

Bethesda, Maryland 20814

Securities registered or to be registered pursuant to Section 12(b) of the Act.

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
ProShares VIX Mid-Term Futures ETF		VIXM		Cboe BZX

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01. Other Events

On November 3, 2026, ProShare Capital Management LLC, on behalf of ProShares Trust II, issued a press release announcing a reverse share split (a “Reverse Split”) on ProShares VIX Mid-Term Futures ETF (Cboe BZX Exchange ticker symbol “VIXM”). The Split will not change the value of a shareholder’s investment.

The Reverse Split

ProShares VIX Mid-Term Futures ETF will execute a 1 for 2 Reverse Split of its shares. The Reverse Split will be effective prior to the market open on November 19, 2026, when the Fund begins trading at its post-Reverse Split price. The ticker symbol for the Fund will not change, but the Fund will be issued a new CUSIP number: “74347Y649”. The Reverse Split will increase the price per share of the Fund with a proportionate decrease in the number of shares outstanding. Specifically, for every two pre- Reverse Split shares held by a Fund shareholder will result in the receipt of one post-Reverse Split share, which will be priced 2 times higher than the net asset value of a pre-Reverse Split share.

For shareholders who hold quantities of shares that are not an exact multiple of the Reverse Split ratio (i.e., not a multiple of 2), the Reverse Split will result in the creation of a fractional share. Post-Reverse Split fractional shares will be redeemed for cash and sent to the shareholder’s broker of record. This redemption may cause some shareholders to realize gains or losses, which could be a taxable event for those shareholders.

ProShare Capital Management LLC announced the foregoing via a press release dated November 3, 2026. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is hereby incorporated by reference. The press release includes information relating to additional funds, none of which are series of ProShares Trust II.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No.		Description
99.1		Press Release Dated November 3, 2026.
104		The cover page from this Current Report on Form 8-K, formatted in Inline XBRL

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November 3, 2026

ProShares Trust II
By:		/s/ Todd B. Johnson
		Todd B. Johnson
		Principal Executive Officer

Exhibit 99.1

ProShares Announces ETF Share Splits

November 3, 2026

BETHESDA, Md. — ProShares, a premier provider of ETFs, announced today forward and reverse share splits on 15 of its ETFs. The splits will not change the total value of a shareholder’s investment.

Forward Split

ProShares will implement forward splits for three ETFs at the following split ratios:

Ticker		ProShares ETF		Split Ratio
EET		ProShares Ultra MSCI Emerging Markets			3:1
ROM		ProShares Ultra Technology			3:1
BIB		ProShares Ultra Nasdaq Biotechnology			2:1

These forward splits will apply to shareholders of record as of market close on November 17, 2026, payable after market close on November 18, 2026. The forward splits will be effective prior to market open on November 19, 2026, when the funds will begin trading at their post-split price. The ticker symbol and CUSIP numbers for the funds will not change.

The forward splits will decrease the price per share of the fund, with a proportionate increase in the number of shares outstanding. For example, for a two-for-one split, every pre-split share will result in the receipt of two post-split shares, which will be priced at one-half the net asset value (“NAV”) of a pre-split share.

Illustration of a Forward Split

The following table shows the effect of a hypothetical two-for-one forward split.

Period		# of Shares Owned				Hypothetical NAV per share				Value of Shares
Pre-Split			100			$	120.00			$	12,000.00
Post-Split			200			$	60.00			$	12,000.00

Reverse Splits

ProShares will implement reverse splits for 12 of its ETFs at the following split ratios:

Ticker

ProShares ETF

Split Ratio

Old CUSIP

New CUSIP

MZZ

ProShares UltraShort MidCap400

1:4

74347G580

74350X504

QID

ProShares UltraShort QQQ

1:4

74349Y829

74350X884

BITI

ProShares Short Bitcoin ETF

1:2

74347G184

74350X207

BITO

ProShares Bitcoin ETF

1:2

74347G440

74350X405

DUG

ProShares UltraShort Energy

1:2

74347G176

74350X108

DXD

ProShares UltraShort Dow30

1:2

74347G374

74350X306

REW

ProShares UltraShort Technology

1:2

74350P451

74350X876

RWM

ProShares Short Russell2000

1:2

74348A210

74350X702

SMDD

ProShares UltraPro Short MidCap400

1:2

74349Y548

74350X801

SSG

ProShares UltraShort Semiconductors

1:2

74350P584

74350X868

UBT

ProShares Ultra 20+ Year Treasury

1:2

74347R172

74350X603

VIXM

ProShares VIX Mid-Term Futures ETF

1:2

74347W338

74347Y649

ProShares Crypto ETFs invest in cryptocurrency derivatives (swap agreements, futures contracts and similar instruments) and do not invest directly in cryptocurrency.

The reverse splits will be effective prior to market open on November 19, 2026, when the funds will begin trading at their post-split prices. The ticker symbols for the funds will not change. All funds undergoing a reverse split will be issued new CUSIP numbers, listed above.

The reverse splits will increase the price per share of each fund, with a proportionate decrease in the number of shares outstanding. For example, for a one-for-two reverse split, every two pre-split shares will result in the receipt of one post-split share, which will be priced two times higher than the NAV of a pre-split share.

Illustration of a Reverse Split

The following table shows the effect of a hypothetical one-for-two reverse split.

Period		# of Shares Owned				Hypothetical NAV per share				Value of Shares
Pre-Split			1,000			$	10.00			$	10,000.00
Post-Split			500			$	20.00			$	10,000.00

Fractional Shares from Reverse Splits

For shareholders who hold quantities of shares that are not an exact multiple of the reverse split ratio (for example, not a multiple of five for a one-for-five reverse split), the reverse split will result in the creation of fractional shares. Post-reverse split fractional shares will be redeemed for cash and sent to your broker of record. This redemption may cause some shareholders to realize gains or losses, which could be a taxable event for those shareholders.

About ProShares November 3, 2026

ProShares has been at the forefront of the ETF revolution since 2006, offering one of the industry’s largest ETF lineups. ProShares, together with its mutual fund affiliate, ProFunds, manages $112 billion in assets.¹ The company is a leader in strategies such as dividend growth, high income, interest rate hedged bond, crypto and geared (leveraged and inverse) ETF investing. ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns.

To learn more about the company and career opportunities, visit us on LinkedIn or at ProShares.com.

Sources:

¹  As of 09/30/26

Some ProShares ETFs seek daily investment results that correspond, before fees and expenses, to a multiple (e.g., 2x or -2x) of the daily performance of its underlying benchmark (the “Daily Target”). While the Funds have a daily investment objective, you may hold a Fund’s shares for longer than one day if

you believe it is consistent with your goals and risk tolerance. For any holding period other than a day, your return may be higher or lower than the Daily Target. These differences may be significant. Smaller index gains/losses and higher index volatility contribute to returns worse than the Daily Target. Larger index gains/losses and lower index volatility contribute to returns better than the Daily Target. The more extreme these factors are, the more they occur together, and the longer your holding period while these factors apply, the more your return will tend to deviate. Investors should consider periodically monitoring their geared fund investments in light of their goals and risk tolerance.

ProShares Crypto ETFs invest in cryptocurrency derivatives (swap agreements, futures contracts and similar instruments) and do not invest directly in cryptocurrency. Cryptocurrencies are a relatively new asset class, and the market for these digital assets is subject to rapid changes and uncertainty. Cryptocurrencies are subject to unique and substantial risks, such as rapid price swings and lack of liquidity, including as a result of changes in their supply and demand, statements by influencers and the media, and other factors. Digital assets are largely unregulated and may be more susceptible to fraud and manipulation than more regulated investments. Leveraged exposure to digital assets will increase volatility. The value of an investment in these ETFs could decline significantly and without warning, including to zero. These ETFs may not be suitable for all investors.

ProShares Commodity ETFs invest in financial instruments that provide exposure to the underlying commodity, and each ETF does not invest directly in commodities.

Investing involves risk, including the possible loss of principal. ProShares ETFs are generally non-diversified, and each entails certain risks, which may include risk associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease performance. Short positions lose value as security prices increase. Leveraged single-stock ETF performance depends almost entirely on the performance of a single stock. Narrowly focused investments typically exhibit higher volatility. Investments in smaller companies typically exhibit higher volatility. Smaller company stocks also may trade at greater spreads or lower trading volumes, and may be less liquid than stocks of larger companies. Please see prospectuses for a more complete description of risks. There is no guarantee any ProShares ETF will achieve its investment objective.

Carefully consider the investment objectives, risks, charges and expenses of ProShares before Investing. This and other information can be found in the summary and full prospectuses. Read them carefully before investing.

ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds’ advisor.

Contacts

Media Contact

Steve Schaefer, Hewes Communications

(212) 207-9456

steve@hewescomm.com

Investor Contact

ProShares

(866) 776-5125

info@proshares.com

Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 EX-99.1 34.2 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.1 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 18.3 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.5 KB