Thu, May 15, 9:20 PM (60 days ago)
**VS Trust (SVIX, UVIX) Q1 2025 Financial Summary** **Ticker:** SVIX (1x Short VIX Futures ETF), UVIX (2x Long VIX Futures ETF) **Q1 2025 Performance:** - **SVIX:** Net Asset Value (NAV) decreased by 5.07, ending at $20.32. Market value per share was $20.34. Total return at NAV was -19.97%. - **UVIX:** NAV increased by 3.14, ending at $37.07. Market value per share was $37.24. Total return at NAV was 9.25%. **Revenue and Expenses:** - **SVIX:** Interest income was $1.41 million. Total expenses were $1.05 million, resulting in a net investment income of $352,563. - **UVIX:** Interest income was $1.19 million. Total expenses were $939,260, resulting in a net investment income of $254,267. **Profit Margins:** - **SVIX:** Net realized and unrealized loss on investments and futures contracts was -$32.55 million. - **UVIX:** Net realized and unrealized gain on investments and futures contracts was $80.76 million. **Cash Flow:** - **SVIX:** Net cash provided by operating activities was $16.86 million. Net cash provided by financing activities was -$16.86 million. - **UVIX:** Net cash provided by operating activities was $77.82 million. Net cash provided by financing activities was -$79.00 million. **Earnings Changes:** - **SVIX:** Net increase in net assets resulting from operations was -$32.20 million. - **UVIX:** Net increase in net assets resulting from operations was $81.02 million. **Trends and Uncertainties:** - Both funds experienced significant volatility due to their exposure to VIX futures contracts. - SVIX's performance was negatively impacted by the inverse relationship with the VIX index. - UVIX benefited from the increase in the VIX index, reflecting higher market volatility. **Future Operations Impact:** - Both funds will continue to focus on their respective investment objectives, managing exposure to VIX futures contracts. - The funds will monitor market conditions and adjust positions as necessary to maintain appropriate exposure. **Risks:** - Both funds are subject to market risk, liquidity risk, and counterparty risk associated with their investments in derivatives. - The funds may experience significant losses in adverse market conditions or due to changes in the VIX index.