Company: SVIX
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075845
Chunk: 96

Company: VS Trust
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 96
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 each Fund varies from
period to period as the market values of the underlying swaps, futures contracts and forward contracts change.

Interest Income for the three months ended June 30, 2025
(Unaudited) and June 30, 2024 (Unaudited) were as follows:

    Interest Income

    Fund 
    Three Months Ended June 30, 
2025 (Unaudited)  
    Three Months Ended June 30, 
2024 (Unaudited) 
  
    -1x Short VIX Futures ETF 
    $2,385,094  
    $744,592 
  
    2x Long VIX Futures ETF 
     1,188,948  
     299,459 
  
    Total Trust 
    $3,574,042  
    $1,044,051 

Interest Income for the six months ended June 30, 2025 (Unaudited),
and June 30, 2024 (Unaudited) were as follows.

    Fund 
    Six Months
 Ended 
June 30, 
2025 (Unaudited)  
    Six Months
 Ended 
June 30, 
2024 (Unaudited) 
  
    -1x Short VIX Futures ETF 
    $3,790,120  
    $1,128,372 
  
    2x Long VIX Futures ETF 
     2,382,591  
     515,925 
  
    Total Trust 
    $6,172,711  
    $1,644,297 

Futures Contracts

A futures contract is a standardized contract traded
on, or subject to the rules of, an exchange that calls for the future delivery of a specified quantity and type of a particular underlying
asset at a specified time and place or alternatively may call for cash settlement. Futures contracts are traded on a wide variety of underlying
assets, including bonds, interest rates, agricultural products, stock indexes, currencies, energy, metals, economic indicators and statistical
measures. The notional size and calendar term futures contracts on a particular underlying asset are identical and are not subject to
any negotiation, other than with respect to price and the number of contracts traded between the buyer and seller. A Fund generally deposits
cash and/or securities with an FCM for its open positions in futures contracts, which may, in turn, transfer such deposits to the clearinghouse
to protect the clearing house against non