Company: SVIX
Filing Date: 2025-09-16
Form Type: 424B3
Source: 0001213900-25-087932
Chunk: 63

Company: VS Trust
Filing Date: 2025-09-16
Form: 424B3
Chunk 63
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 OR THEIR THIRD PARTY LICENSORS, INCLUDING CBOE, HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS) RESULTING FROM THE USE OF THE INDEX OR ANY DATA INCLUDED THEREIN, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. 34

INVESTMENT OBJECTIVE AND PRINCIPAL INVESTMENT STRATEGY Investment Objectives SVIX SVIX seeks daily investment results, before fees and expenses, that correspond to the performance of the Short Index for a single day. The Fund does not seek to achieve its stated objective over a period greater than a single day.A “single day” is measured from the time the Fund calculates its NAV to the time of the Fund’s next NAV calculation. The Index measures the daily inverse performance of a portfolio of first and second month VIX futures contracts. This theoretical portfolio is rolled each day to maintain a consistent time to maturity of the futures contracts. The Index is calculated daily at 4:00 p.m. (Eastern time) and at a value calculated from the average price for the futures contracts between 3:45 p.m. (Eastern time) and 4:00 p.m. (Eastern time). Through this price averaging process — known as the Time Weighted Average Price (or TWAP). The Short Index inception date was November 22, 2019. Its ticker symbol is: SHORTVOL. One year historical performance of the Short Index and the VIX from June 2024 through June 2025 is set forth below:

| Month          |     |  Short 
  Index |    |     |    VIX |    |
| June 2024      |     |   6.27 | %  |     |  (3.72 | )% |
| July 2024      |     |  (8.26 | )% |     |  31.51 | %  |
| August 2024    |     | (27.62 | )% |     |  (8.31 | )% |
| September 2024 |     | (15.36 | )% |     |  11.53 | %  |
| October 2024   |     | (16.55 | )% |     |  38.43 | %  |
| November 2024  |     |  31.59 | %  |     | (41.67 | )% |
| December 2024