Company: SVIX
Filing Date: 2025-09-16
Form Type: 424B3
Source: 0001213900-25-087932
Chunk: 73

Company: VS Trust
Filing Date: 2025-09-16
Form: 424B3
Chunk 73
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 Fund’s assets (other than cash and government securities) and thereby avoid potentially being deemed an unregistered investment company.” The amount of a Fund’s exposure should be expected to change from time to time at the discretion of the Sponsor based on market conditions and other factors. In addition, the Sponsor has the power to change the Fund’s investment objective, Benchmark or investment strategy at any time, without shareholder approval, subject to applicable regulatory requirements. Mitigating Price Impacts to VIX Futures Contract Prices at Times of Fund Rebalancing The Sponsor will seek to minimize the market impact of rebalances across all exchange traded products based on VIX futures contracts that it sponsors (the “VIX ETPs”) on the price of VIX futures contracts by limiting VIX ETP participation, on any given day, in VIX futures contracts to no more than ten percent (10%) of the contracts traded on Cboe Futures Exchange, Inc. (“CFE”) during any “Rebalance Period,” defined as any fifteen minute period 39 of continuous market trading. In the event that any VIX ETP (including each Fund) expects to hit the ten percent threshold during the primary Rebalance Period from 3:45 p.m. to 4:00 p.m. (Eastern time), the VIX ETPs would extend participation during periods of market illiquidity, the Sponsor, on any given day, may vary the manner and period over which all funds it sponsors are rebalanced, and as such, the manner and period over which a Fund is rebalanced. Index Performance Example SVIX seeks to track the Short Index which measures the daily inverse performance of a portfolio of first- and second -monthVIX futures contracts. UVIX seeks to track twice the Long Index which measures the performance of a portfolio of first- and second -monthVIX futures contracts The Funds’ portfolios of futures contracts are rolled each day to maintain a consistent time to maturity of approximately one month. On any Business Day, SVIX’s portfolio comprises a number of short positions in first -monthand second -monthVIX futures contracts. On any Business Day, UVIX’s portfolio comprises a number of long positions in first -monthand second -monthVIX futures contracts. The fraction of the Funds’ portfolios rolled each Business Day is proportional to the number of first -monthfutures contracts held and inversely proportional to the number of days in the Roll Period. SVIX Example For example, on January 2, 2020 the Fund