Company: SVIX
Filing Date: 2025-09-16
Form Type: 424B3
Source: 0001213900-25-087932
Chunk: 21

Company: VS Trust
Filing Date: 2025-09-16
Form: 424B3
Chunk 21
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 (26.15 | )% |     |       31.59 | %  |     | (41.67 | )% |
| December 2024  |     |       7.11 | %  |     |      (12.66 | )% |     |  28.42 | %  |
| January 2025   |     |      (3.93 | )% |     |        1.00 | %  |     |  (5.30 | )% |
| February 2025  |     |       3.65 | %  |     |        (4.8 | )% |     |  19.48 | %  |
| March 2025     |     |      11.53 | %  |     |      (15.96 | )% |     |  13.50 | %  |
| April 2025     |     |      25.22 | %  |     |      (39.93 | )% |     |  10.86 | %  |
| May 2025       |     |     (16.84 | )% |     |       15.33 | %  |     | (24.82 | )% |
| June 2025      |     |     (11.26 | )% |     |        9.99 | %  |     |  (9.91 | )% |

10 Due to the compounding of daily returns, the Funds’ returns over a period longer than a single day will likely differ in amount and possibly even direction from: i) in the case of SVIX, the inverse performance of the VIX or a portfolio of short VIX futures contracts over the same period; and ii) in the case of UVIX, twice the performance of the VIX or a portfolio of long VIX futures contracts over the same period. SVIX has an investment objective to seek daily investment results, before fees and expenses, that track the Short Index, which is designed to express the daily inverse performance of a theoretical portfolio of first and second month VIX futures contracts. The Fund seeks investment results for a single day only, as measured from NAV calculation time to NAV calculation time, and not for any other period (see “Summary — Creation and Redemption Transactions”for the typical NAV calculation time of the Fund). The return of the Fund for a period longer than a single day is the result