Company: SVIX
Filing Date: 2025-09-16
Form Type: 424B3
Source: 0001213900-25-087932
Chunk: 20

Company: VS Trust
Filing Date: 2025-09-16
Form: 424B3
Chunk 20
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 the value of a Fund’s investments. The potential for market turbulence may have an adverse effect on the value of a Fund’s investments. In the past (between 2007 and 2009) and more recently in 2020, instability in the financial markets led the United States and other governments to take a number of unprecedented actions designed to support certain financial and other institutions and certain segments of the financial markets. Federal, state, and foreign governments, regulatory agencies and self -regulatoryorganizations (“Regulatory Bodies”) have taken, and could take in the future, actions that affect the regulation of the instruments in which a Fund invests, or the issuers of such instruments, in ways that are unforeseeable. Such legislation or regulation could limit a Fund’s ability to achieve its investment objective. There also is no assurance that Regulatory Bodies will intervene in these or similar matters or events in the future. Any lack of intervention by such Regulatory Bodies also could have an impact on Fund performance and limit a Fund’s ability to achieve its investment objective. The following chart shows the most recent one -yearperformance of the Long Index, the Short Index and the VIX, from June 2024 through June 2025. The Short Index has an inception date of November 22, 2019. The Long Index has an inception date of October 8, 2021.

| Month          |     | Long Index |    |     | Short Index |    |     |    VIX |    |
| June 2024      |     |      (6.31 | )% |     |        6.27 | %  |     |  (3.72 | )% |
| July 2024      |     |       5.56 | %  |     |       (8.26 | )% |     |  31.51 | %  |
| August 2024    |     |      (3.48 | )% |     |      (27.62 | )% |     |  (8.31 | )% |
| September 2024 |     |      10.86 | %  |     |      (15.36 | )% |     |  11.53 | %  |
| October 2024   |     |      15.44 | %  |     |      (16.55 | )% |     |  38.43 | %  |
| November 2024  |     |