Company: SVIX
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075845
Chunk: 39

Company: VS Trust
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 39
---
 Index Contracts 
    $             -  
    $(86,498,592) 
    $(86,498,592) 
    $             -  
    $4,593,712  
    $4,593,712 
  
    Total 
    $-  
    $(86,498,592) 
    $(86,498,592) 
    $-  
    $4,593,712  
    $4,593,712 

*The
amounts disclosed are included in the realized gain (loss) on investments.

**The
amounts disclosed are included in the change in unrealized appreciation (depreciation) on investments.

The following table indicates the average volume when in use for the
six months ended June 30, 2025:

    -1x Short VIX Futures ETF  
    2x Long VIX Futures ETF 
  
    Average notional value of long futures contracts 
    $-  
    $638,862,547 
  
    Average notional value of short futures contracts 
     (285,671,710) 
     - 

The following table indicates the average volume when in use for the six months ended June 30, 2024:

    -1x Short VIX Futures ETF  
    2x Long VIX Futures ETF 
  
    Average notional value of long futures contracts 
    $-  
    $153,410,633 
  
    Average notional value of short futures contracts 
     (134,345,370) 
     - 

The following table indicates the average volume when in use for the six months ended June 30, 2025:

    -1x Short VIX Futures ETF  
    2x Long VIX Futures ETF 
  
    Average notional value of purchased options contracts 
    $26,864,171  
    $- 

The following table indicates the average volume when in use for the six months ended June 30, 2024:

    -1x Short VIX Futures ETF  
    2x Long VIX Futures ETF 
  
    Average notional value of purchased options contracts 
    $41,159,514  
    $    - 

F-24

Offsetting Assets and Liabilities

Each Fund is subject to master netting agreements
or similar arrangements that allow for amounts owed between each Fund and the counterparty to be