Company: SVIX
Filing Date: 2025-09-16
Form Type: 424B3
Source: 0001213900-25-087932
Chunk: 100

Company: VS Trust
Filing Date: 2025-09-16
Form: 424B3
Chunk 100
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 the futures data that is based on the VIX and the use of third party licensor trademarks. Recurring and Non-Recurring Fees and Expenses Each Fund pays all of its fees and expenses, including recurring, non -recurring, routine and unusual fees and expenses. Selling Commission Retail investors may purchase and sell Shares through traditional brokerage accounts. Investors are expected to be charged a customary commission by their brokers in connection with purchases of Shares that will vary from investor to investor. Investors are encouraged to review the terms of their brokerage accounts for applicable charges. The price at which an Authorized Participant sells a Share may be higher or lower than the price paid by such Authorized Participant in connection with the creation of such Share in a Creation Unit. Brokerage Commissions and Fees Each Fund pays all of its respective brokerage commissions, including applicable exchange fees, NFA fees and give -upfees, pit brokerage fees and other transaction related fees and expenses charged in connection with trading activities for the Fund’s investments in CFTC regulated investments. On average, total charges paid to FCMs are expected to be less than $7.00 per round -turntrade, although brokerage commissions and trading fees are determined on a contract -by -contractbasis. Each Fund bears other transaction costs including the effects of trading spreads and financing costs/fees, if any, associated with the use of Financial Instruments, and costs relating to the purchase of U.S. Treasury securities or similar high credit quality short -termfixed -incomeor similar securities (such as shares of money market funds). 56 MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS The following discussion describes the material U.S. federal (and certain state and local) income tax considerations associated with the purchase, ownership and disposition of Shares as of the date hereof by U.S. Shareholders (as defined below) and non -U.S. Shareholders (as defined below). Except where noted, this discussion deals only with Shares held as capital assets by shareholders who acquired Shares by purchase and does not address special situations, such as those of: •dealers in securities or commodities; •financial institutions; •regulated investment companies; •real estate investment trusts; •partnerships and persons in their capacity as partners; •tax -exemptorganizations; •insurance companies; •persons holding Shares as a part of a hedging, integrated or conversion transaction or a straddle; •accrual method taxpayers subject to special tax accounting rules as a result of their use of financial statements; •traders