Company: SVIX
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004207
Chunk: 1729

Company: VS Trust
Filing Date: 2025-03-28
Form: 10-K
Item: Item 13
Chunk 1729
---
 to such Fund a number and type of exchange-traded futures contracts at or near
the closing settlement price for such contracts on the purchase order date.

Authorized Participants may pay a fee up to 0.03%
of the value of each order they place with each order to create or redeem a Creation Unit in order to compensate the Administrator, the
Custodian and the Transfer Agent of each Fund and its Shares, for services in processing the creation and redemption of Creation Units
and to offset the costs of increasing or decreasing derivative positions, unless the transaction fee is waived or otherwise adjusted
by the Sponsor. The Sponsor provides such Authorized Participant with prompt notice in advance of any such waiver or adjustment of the
transaction fee. Authorized Participants may sell the Shares included in the Creation Units they purchase from the Funds to other investors
in the secondary market.

Transaction Fees for the year ended December 31, 2024 and
the period ended December 31, 2023:

    Fund 
    Year Ended  December 31,  2024  
    Period Ended  December 31, 2023 
  
    -1x Short VIX Futures ETF 
    $446,439  
    $176,715 
  
    2x Long VIX Futures ETF 
     400,240  
     215,355 

    $846,679  
    $392,070 

F-35

NOTE 7 – FINANCIAL HIGHLIGHTS

Selected data is for a Share outstanding throughout the Year Ended December 31, 2024 (Unaudited) and December 31, 2023 (Unaudited)  

    -1x Short VIX  Futures
    ETF  
    2x Long VIX  Futures ETF  
    -1x Short VIX  Futures ETF  
    2x Long VIX  Futures ETF 

    For the Year Ended  
    For the Year Ended  
    For the Year Ended  
    For the Year Ended 

    December 31, 2024  
    December 31, 2024 (6)  
    December 31, 2023  
    December 31,  2023 (7) 
  
    Net Asset Value, Beginning of Period 
    $37.78  
    $137.27  
    $14.63  
    $2,925.15