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Midas Edge

VS Trust

For the period ended Sep 30, 2024. Filed Nov 13, 2024.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Nov 13, 2024

SVIX$23.00+0.1%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Item 1. Financial Statements

Index

DocumentsPage
Statements of Financial Condition, Schedule of Investments, Statements of Operations, Statements of Changes in Shareholders’ Equity, and Statements of Cash Flows:
-1x Short VIX Futures ETFF-8
2x Long VIX Futures ETFF-12
Notes to Financial StatementsF-16

-1-

Statements of Assets and Liabilities

-1x Short VIX Futures ETF · 2x Long VIX Futures ETF · -1x Short VIX Futures ETF · 2x Long VIX Futures ETF
September 30, 2024 (Unaudited) · September 30, 2024 (Unaudited) · December 31, 2023 · December 31, 2023
ASSETS
Cash$-$-$5,032,398$-
Investments in securities, at value *141,574,16561,137,59514,917,0998,009,153
Interest receivable734,901181,297117,86658,172
Prepaid expenses and other assets18,56647,29916,78131,493
Deposits at Broker for Futures and Options Contracts175,083,863112,415,389115,003,17461,750,311
Variation margin receivable5,608,945--148,593
Other receivable1,380-2,839-
Total Assets323,021,820173,781,580135,090,15769,997,722
LIABILITIES
Payables
Variation margin payable$-$6,246,194$204,703$-
Due to Other-955
Fund shares redeemed4,600,608-9,447,400-
Payable to Sponsor398,712184,564147,790106,270
Administrative, accounting and custodian fees payable61,07344,61128,06525,429
Professional fees payable244,274238,353154,412133,724
Licensing and registration fees payable52,39469,04950,36867,303
Total Liabilities5,357,0616,783,72610,032,738332,726
NET ASSETS$317,664,759$166,997,854$125,057,419$69,664,996
NET ASSETS CONSIST OF:
Paid-in capital$176,375,307$583,715,784$4,558,124$424,281,739
Total distributable earnings (accumulated deficit)141,289,452(416,717,930)120,499,295(354,616,743)
Net Assets$317,664,759$166,997,854$125,057,419$69,664,996
Net Asset Value (unlimited shares authorized):
Class I (unlimited shares authorized):
Net Assets$317,664,759$166,997,854$125,057,419$69,664,996
Shares Outstanding^11,740,00035,284,9753,310,0005,074,975
Net Asset Value, Offering and Redemption Price per Share$27.06$4.73$37.78$13.73
Market Value per Share (Note 2)$27.07$4.72$37.73$13.73
*Investments in securities, at cost$141,702,660$61,137,595$15,728,432$8,009,153
^ No Par Value
-1x Short VIX Futures ETF2x Long VIX Futures ETF-1x Short VIX Futures ETF2x Long VIX Futures ETF
Quarter EndedQuarter EndedQuarter EndedQuarter Ended
September 30, 2024September 30, 2024September 30, 2023September 30, 2023
(Unaudited)(Unaudited)(Unaudited)(Unaudited)
INVESTMENT INCOME
Income:
Interest income$1,893,485$407,680$86,183$257,541
Total Income1,893,485407,68086,183257,541
Expenses:
Management fees1,134,109416,604293,542365,111
Administrative, accounting and custodian fees38,83623,86027,91728,148
Professional fees76,23394,51781,55281,188
Licensing and registration fees(10,647)3,8837,68813,740
Other1,0061,006--
Broker interest expense47,307---
Total Expenses1,286,844539,870410,699488,187
Net Investment Income (Loss)606,641(132,190)(324,516)(230,646)
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FUTURES CONTRACTS
Net realized gain (loss) on:
Options266,733---
Futures(28,508,230)(7,095,465)15,738,591(42,049,000)
Net change in unrealized appreciation (depreciation) of:
Options10,502---
Futures(3,125,307)1,135,620(12,928,171)30,931,703
Net realized and unrealized gain (loss) on investments and futures contracts(31,356,302)(5,959,845)2,810,420(11,117,297)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS$(30,749,661)$(6,092,035)$2,485,904$(11,347,943)
-1x Short VIX Futures ETF2x Long VIX Futures ETF-1x Short VIX Futures ETF2x Long VIX Futures ETF
Nine Months EndedNine Months EndedNine Months EndedNine Months Ended
September 30, 2024September 30, 2024September 30, 2023September 30, 2023
(Unaudited)(Unaudited)(Unaudited)(Unaudited)
INVESTMENT INCOME
Income:
Interest income$3,021,857$923,605$207,714$691,812
Total Income3,021,857923,605207,714691,812
Expenses:
Management fees2,128,6141,009,549688,4551,284,769
Administrative, accounting and custodian fees104,26490,24274,72590,847
Professional fees224,725286,499240,644242,137
Licensing and registration fees23,01111,83657,82258,561
Other2,9732,973--
Broker interest expense47,307-8,613320
Total Expenses2,530,8941,401,0991,070,2591,676,634
Net Investment Income (Loss)490,963(477,494)(862,545)(984,822)
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FUTURES CONTRACTS
Net realized gain (loss) on:
Options(6,489,708)---
Futures33,764,723(67,353,025)58,190,096(228,151,397)
Net change in unrealized appreciation (depreciation) of:
Options682,838---
Futures(7,658,659)5,729,332(7,565,698)20,344,189
Net realized and unrealized gain (loss) on investments and futures contracts20,299,194(61,623,693)50,624,398(207,807,208)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS$20,790,157$(62,101,187)$49,761,853$(208,792,030)

Statements of Changes in Net Assets

-1x Short VIX Futures ETF2x Long VIX Futures ETF-1x Short VIX Futures ETF2x Long VIX Futures ETF
Quarter EndedQuarter EndedQuarter EndedQuarter Ended
September 30, 2024September 30, 2024September 30, 2023September 30, 2023
(Unaudited)(Unaudited)(Unaudited)(Unaudited)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS
Net investment Income (Loss)$606,641$(132,190)$(324,516)$(230,646)
Net realized gain (loss) on investments and futures contracts(28,241,497)(7,095,465)15,738,591(42,049,000)
Net change in unrealized appreciation (depreciation) of investments and futures contracts(3,114,805)1,135,620(12,928,171)30,931,703
Net increase (decrease) in net assets resulting from operations(30,749,661)(6,092,035)2,485,904(11,347,943)
CAPITAL SHARE TRANSACTIONS
Shares sold546,031,939232,642,35268,508,30891,271,140
Shares redeemed(384,300,594)(141,934,673)(32,840,529)(77,058,854)
Net increase (decrease) in net assets from capital share transactions161,731,34590,707,67935,667,77914,212,286
Total increase (decrease) in net assets130,981,68484,615,64438,153,6832,864,343
NET ASSETS
Beginning of Period186,683,07582,382,21072,302,41385,338,802
End of Period$317,664,759$166,997,854$110,456,096$88,203,145

Statements of Changes in Net Assets

-1x Short VIX Futures ETF2x Long VIX Futures ETF-1x Short VIX Futures ETF2x Long VIX Futures ETF
Nine Months EndedNine Months EndedNine Months EndedNine Months Ended
September 30, 2024September 30, 2024September 30, 2023September 30, 2023
(Unaudited)(Unaudited)(Unaudited)(Unaudited)
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS
Net investment Income (Loss)$490,963$(477,494)$(862,545)$(984,822)
Net realized gain (loss) on investments and futures contracts27,275,015(67,353,025)58,190,096(228,151,397)
Net change in unrealized appreciation (depreciation) of investments and futures contracts(6,975,821)5,729,332(7,565,698)20,344,189
Net increase (decrease) in net assets resulting from operations20,790,157(62,101,187)49,761,853(208,792,030)
CAPITAL SHARE TRANSACTIONS
Shares sold739,964,471392,181,688187,008,767369,331,697
Shares redeemed(568,147,288)(232,747,643)(172,693,127)(197,825,288)
Net increase (decrease) in net assets from capital share transactions171,817,183159,434,04514,315,640171,506,409
Total increase (decrease) in net assets192,607,34097,332,85864,077,493(37,285,621)
NET ASSETS
Beginning of Period125,057,41969,664,99646,378,603125,488,766
End of Period$317,664,759$166,997,854$110,456,096$88,203,145

Statements of Cash Flows

-1x Short VIX Futures ETF · 2x Long VIX Futures ETF · -1x Short VIX Futures ETF · 2x Long VIX Futures ETF
Quarter Ended · Quarter Ended · Quarter Ended · Quarter Ended
September 30, 2024 · September 30, 2024 · September 30, 2023 · September 30, 2023
(Unaudited) · (Unaudited) · (Unaudited) · (Unaudited)
CASH FLOW FROM OPERATING ACTIVITIES
Net increase (decrease) in net assets resulting from operations$(30,749,661)$(6,092,035)$2,485,904$(11,347,943)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Purchase of investments(527,230,306)(233,003,884)(113,633,779)(133,007,714)
Proceeds from sales or maturities of investments held435,686,729190,093,887105,960,099118,168,760
Net realized gain/loss on investments in options(266,733)---
Net change in unrealized appreciation/depreciation on investments in options(10,502)---
Decrease (Increase) in Deposits at broker for futures and options contracts(37,391,280)(49,286,294)(35,708,583)28,009,343
Decrease (Increase) in Variation margin receivable(5,608,945)1,361,2201,242,108(1,945,302)
Decrease (Increase) in Prepaid expenses and other assets1,668(29,584)9,391(16,431)
Decrease (Increase) in interest receivable(493,907)(90,455)(26,812)(47,053)
Decrease (Increase) in other receivables(630)-253(1,521)
Increase (Decrease) in Due to Custodian--(1,023,713)(2,874,781)
Increase (Decrease) in Due to Other-34-6
Increase (Decrease) in Variation margin payable(1,682,338)6,246,1941,327,607(3,406,049)
Increase (Decrease) in Payable to Sponsor191,85780,69341,257(13,210)
Increase (Decrease) in Administrative, accounting and custodian fees payable22,12012,2993,2627,567
Increase (Decrease) in Professional fees payable27,541(3,638)34,70133,913
Increase (Decrease) in Licensing and registration fees payable1,6583,88410,87214,275
Net cash provided by (used in) operating activities(167,502,729)(90,707,679)(39,277,433)(6,426,140)
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from shares sold, net of receivable for shares sold546,031,939232,642,35272,117,96285,350,046
Cost of shares redeemed, net of payable for shares purchased(379,699,986)(141,934,673)(32,840,529)(78,923,906)
Net cash provided by (used in) financing activities166,331,95390,707,67939,277,4336,426,140
NET DECREASE IN CASH(1,170,776)---
Beginning of Period1,170,776---
End of Period$-$-$-$-

Statements of Cash Flows

-1x Short VIX Futures ETF · 2x Long VIX Futures ETF · -1x Short VIX Futures ETF · 2x Long VIX Futures ETF
Nine Months Ended · Nine Months Ended · Nine Months Ended · Nine Months Ended
September 30, 2024 · September 30, 2024 · September 30, 2023 · September 30, 2023
(Unaudited) · (Unaudited) · (Unaudited) · (Unaudited)
CASH FLOW FROM OPERATING ACTIVITIES
Net increase (decrease) in net assets resulting from operations$20,790,157$(62,101,187)$49,761,853$(208,792,030)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Purchase of investments(872,724,542)(404,905,328)(340,725,312)(442,361,238)
Proceeds from sales or maturities of investments held740,260,607351,776,886333,051,632426,255,022
Net realized gain/loss on investments in options6,489,708---
Net change in unrealized appreciation/depreciation on investments in options(682,838)---
Decrease (Increase) in Deposits at broker for futures and options contracts(60,080,689)(50,665,078)(56,267,842)59,527,835
Decrease (Increase) in Variation margin receivable(5,608,945)148,593-(1,114,462)
Decrease (Increase) in Prepaid expenses and other assets(1,785)(15,806)(14,694)(26,532)
Decrease (Increase) in interest receivable(617,035)(123,125)(27,106)(61,922)
Decrease (Increase) in other receivables1,459-571(1,502)
Increase (Decrease) in Due to Custodian---6
Increase (Decrease) in Due to Other-955--
Increase (Decrease) in Variation margin payable(204,703)6,246,1941,140,577-
Increase (Decrease) in Payable to Sponsor250,92278,29457,503(51,198)
Increase (Decrease) in Administrative, accounting and custodian fees payable33,00819,1822,0995,707
Increase (Decrease) in Professional fees payable89,862104,62978,45976,534
Increase (Decrease) in Licensing and registration fees payable2,0261,74625,03842,143
Net cash provided by (used in) operating activities(172,002,788)(159,434,045)(12,917,222)(166,501,637)
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from shares sold, net of receivable from shares sold739,964,470392,181,688187,008,767364,326,925
Cost of shares redeemed, net of payable from shares purchased(572,994,080)(232,747,643)(174,596,145)(197,825,288)
Net cash provided by (used in) financing activities166,970,390159,434,04512,412,622166,501,637
NET DECREASE IN CASH(5,032,398)-(504,600)-
Beginning of Period5,032,398-504,600-
End of Period$-$-$-$-
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.