Company: SVIX
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075845
Chunk: 337

Company: VS Trust
Filing Date: 2025-08-13
Form: 10-Q
Item: Part II, Item 8
Chunk 337
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 Unrealized Gain (Loss) on Investments and Futures Contracts (2) 
     (9.87) 
     (11.61) 
     10.00  
     (81.58)
  
    Net Increase (Decrease) in Net Asset Value Resulting from Operations 
     (9.82) 
     (11.62) 
     9.97  
     (81.99)
  
    Net Asset Value, End of Period 
    $15.57  
    $22.31  
    $47.75  
    $55.28 
  
    Market Value Per Share (3) 
    $15.51  
    $22.44  
    $47.67  
    $56.00 
  
    Total Return at Net Asset Value (4) 
     -38.68% 
     -34.25% 
     26.39% 
     -59.73%
  
    Total Return at Market Value (4) 
     -38.86% 
     -34.00% 
     26.35% 
     -59.21%

    Ratios to Average Net Assets: (5) 

    Expense ratio (6) 
     1.58% 
     1.94% 
     1.69% 
     2.40%
  
    Net Investment Loss 
     0.59% 
     -0.05% 
     -0.16% 
     -0.96%

(1)Net investment income (loss) per share represents net investment
income (loss) divided by the daily average shares of beneficial interest outstanding during the period.

(2)Due to timing of capital share transactions, per share amounts
may not compare with amounts appearing elsewhere within these Financial Statements.

(3)Market values are determined at the close of the applicable
primary listing exchange, which may be later than when the Funds’ net asset value is calculated.

(4)Percentages are not annualized for the period ended June
30, 2025 and June 30, 2024

(5)Percentages are annualized.

(6)The expense ratio would be 1.58% and 1.94% respectively,
for the six months ended June 30, 2025, and 1.69% and 2.40% for the six