Company: SVIX
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044385
Chunk: 32

Company: VS Trust
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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. The master netting
agreements or similar arrangements do not apply to amounts owed to/from different counterparties. As described above, the Funds utilize
derivative instruments to achieve their investment objective during the year. The amounts shown in the Statements of Financial Condition
do not take into consideration the effects of legally enforceable master netting agreements or similar arrangements.

For financial reporting purposes, the Funds do
not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statements of Financial Condition.
The following table presents each Fund’s derivatives by investment type and by counterparty net of amounts available for offset
under a master netting agreement and the related collateral received or pledged by the Funds as of March 31, 2025 and December 31, 2024.

    Fair Values of Derivative Instruments as of March 31, 2025 (Unaudited)

    Assets  
    Liabilities 
  
    Fund 
    Gross Amounts of  Recognized  Assets  presented in the Statements of  Financial Condition  
    Gross Amounts Offset  in the Statements of  Financial  Condition  
    Net  Amounts  of Assets presented  in the Statements of  Financial  Condition  
    Gross Amounts of Recognized  Liabilities presented  in the  Statements of  Financial  Condition  
    Gross  Amounts  Offset in the Statements of Financial  Condition  
    Net Amounts  of  Liabilities  presented in the Statements of  Financial  Condition 
  
    -1x Short VIX Futures ETF 
    $1,471,674  
    $         -  
    $1,471,674  
    $-  
    $         -  
    $- 
  
    2x Long VIX Futures ETF 
     -  
     -  
     -  
     2,191,128  
     -  
     2,191,128 

    Fair Values of Derivative Instruments as of December 31, 2024

    Assets

    Liabilities

    Fund
     
    Gross Amounts of 
Recognized 
Assets 
presented 
in the 
Statements of 
Financial 
Condition

    Gross 
Amounts 
Offset in
the 
Statements of 
Financial 
Condition

    Net 
Amounts
of Assets 
presented 
in the 
Statements of 
Financial 
Condition