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Investments (Tables)
 6 Months Ended
Jun. 30, 2023
Investments [Abstract]  
Schedule of Fair Value of Derivative Instruments The counterparty/credit risk for cleared derivative transactions is generally lower than for OTC derivatives since generally a clearing organization becomes substituted for each counterparty to a cleared derivative contract and, in effect, guarantees the parties’ performance under the contract as each party to a trade looks only to the clearing organization for performance of financial obligations. In addition, cleared derivative transactions benefit from daily marking-to-market and settlement, and segregation and minimum capital requirements applicable to intermediaries.
Fair Values of Derivative Instruments as of June 30, 2023 (Unaudited)  
        Asset Derivatives     Liability Derivatives  
Derivatives Not
Accounted for as
Hedging Instruments		   Fund   Statements of
Financial
Condition Location		   Unrealized
Appreciation		     Statements of
Financial
Condition Location		   Unrealized
Depreciation		  
VIX Futures Contracts                            
    -1x Short VIX Futures ETF       $ 6,518,579         $ -  
    2x Long VIX Futures ETF         -           (19,791,036 )
    Total Trust       $   6,518,579         $   (19,791,036 )
Fair Values of Derivative Instruments as of December 31, 2022  
        Asset Derivatives     Liability Derivatives  
Derivatives Not
Accounted for as
Hedging Instruments		   Fund   Statements of
Financial
Condition Location		   Unrealized
Appreciation		     Statements of
Financial
Condition Location		   Unrealized
Depreciation		  
VIX Futures Contracts                            
    -1x Short VIX Futures ETF       $ 1,156,106         $ -  
    2x Long VIX Futures ETF         -           (9,203,522 )
    Total Trust       $   1,156,106         $   (9,203,522 )
Schedule of Effect of Derivative Instruments on The Statement of Operations
The Effect of Derivative Instruments on the Statement of Operations
For the Three Months Ended June 30, 2023 (Unaudited) and June 30, 2022 (Unaudited)
 
Derivatives Not
Accounted for as Hedging Instruments		  Location of Gain (Loss) on Derivatives Recognized in Income  Fund  Realized Gain
(Loss) on
Derivatives Recognized
in Income
June 30,
2023		   Change in
Unrealized
Appreciation
(Depreciation)
on Derivatives
Recognized
in Income
June 30,
2023		   Realized Gain
(Loss) on
Derivatives
Recognized
in Income
June 30,
2022		   Change in
Unrealized
Appreciation
(Depreciation)
on Derivatives
Recognized
in Income
June 30,
2022		 
VIX Futures Contracts  Net realized gain (loss) on futures contracts/changes in unrealized appreciation (depreciation) on futures contracts                       
      -1x Short VIX Futures ETF  $37,164,451   $(811,301)  $(4,573,051)  $835,808 
      2x Long VIX Futures ETF   (142,872,642)   (4,374,661)   7,528,449    (256,944)
      Total Trust  $(105,708,191)  $(5,185,962)  $2,955,398   $578,864 
The Effect of Derivative Instruments on the Statement of Operations
For the Six Months Ended June 30, 2023 (Unaudited) and June 30, 2022 (Unaudited)
 
Derivatives Not
Accounted for as Hedging Instruments		  Location of Gain (Loss) on Derivatives Recognized in Income  Fund  Realized Gain
(Loss) on
Derivatives
Recognized
in Income
June 30,
2023		   Change in
Unrealized
Appreciation
(Depreciation)
on Derivatives
Recognized in
Income
June 30,
2023		   Realized Gain
(Loss) on
Derivatives
Recognized
in Income
June 30,
2022		   Change in
Unrealized
Appreciation
(Depreciation)
on Derivatives
Recognized
in Income
June 30,
2022		 
VIX Futures Contracts  Net realized gain (loss) on futures contracts/changes in unrealized appreciation (depreciation) on futures contracts                       
      -1x Short VIX Futures ETF  $42,451,505   $5,362,473   $(4,577,129)  $700,531 
      2x Long VIX Futures ETF   (186,102,397)   (10,587,514)   7,527,995    19,258 
      Total Trust  $(143,650,892)  $(5,225,041)  $2,950,866   $719,789 
Schedule of Pledged By Funds Fair Values of Derivative Instruments For financial reporting purposes, the Funds do not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statements of Financial Condition. The following table presents each Fund’s derivatives by investment type and by counterparty net of amounts available for offset under a master netting agreement and the related collateral received or pledged by the Funds as of June 30, 2023 and December 31, 2022.
Fair Values of Derivative Instruments as of June 30, 2023 (Unaudited)
 
   Assets   Liabilities 
Fund  Gross
Amounts of
Recognized
Assets
presented
in the
Statements
of Financial
Condition		   Gross
Amounts
Offset
in the
Statements
of Financial
Condition		   Net Amounts
of Assets
presented
in the
Statements
of Financial
Condition		   Gross
Amounts of
Recognized
Liabilities
presented
in the
Statements
of Financial
Condition		   Gross
Amounts
Offset
in the
Statements
of Financial
Condition		   Net Amounts
of Liabilities
presented
in the
Statements
of Financial
Condition		 
-1x Short VIX Futures ETF  $1,242,108   $
         -
   $1,242,108   $
-
   $
          -
   $
-
 
2x Long VIX Futures ETF   
-
    
-
    
-
   $3,406,049    
-
    3,406,049 
Fair Values of Derivative Instruments as of December 31, 2022
 
   Assets   Liabilities 
Fund  Gross
Amounts of
Recognized
Assets
presented
in the
Statements
of Financial
Condition		   Gross
Amounts
Offset
in the
Statements
of Financial
Condition		   Net Amounts
of Assets
presented
in the
Statements
of Financial
Condition		   Gross
Amounts of
Recognized
Liabilities
presented
in the
Statements
of Financial
Condition		   Gross
Amounts
Offset
in the
Statements
of Financial
Condition		   Net Amounts
of Liabilities
presented
in the
Statements
of Financial
Condition		 
-1x Short VIX Futures ETF  $-   $
           -
   $-   $187,030   $
            -
   $187,030 
2x Long VIX Futures ETF   830,840    
-
    830,840    -    
-
    - 

 
Schedule of Gross Amounts Not Offset In The Statements of Financial Condition Asset (Liability) amounts shown in the table below represent amounts owed to (by) the Funds for the derivative-related investments at June 30, 2023 and December 31, 2022. These amounts may be collateralized by cash or financial instruments, segregated for the benefit of the Funds or the counterparties, depending on whether the related contracts are in an appreciated or depreciated position at period end. Amounts shown in the column labeled “Net Amount” represent the uncollateralized portions of these amounts at period end. These amounts may be un-collateralized due to timing differences related to market movements or due to minimum thresholds for collateral movement, as further described above under the caption “Accounting for Derivative Instruments”.
Gross Amounts Not Offset in the Statements of Financial Condition as of June 30, 2023 (Unaudited)
 
Fund  Amounts of
Recognized
Assets /
(Liabilities)
presented
in the
Statements
of Financial
Condition		   Financial
Instruments
for the Benefit
of (the Funds) / the
Counterparties		   Cash
Collateral for
the Benefit of
(the Funds) / the
Counterparties		   Net Amount 
-1x Short VIX Futures ETF  $1,242,108   $
          -
   $
            -
   $1,242,108 
2x Long VIX Futures ETF   (3,406,049)   
-
    
-
    (3,406,049)
Gross Amounts Not Offset in the Statements of Financial Condition as of December 31, 2022
 
Fund  Amounts of
Recognized
Assets /
(Liabilities)
presented
in the
Statements
of Financial
Condition		   Financial
Instruments
for the Benefit
of (the
Funds) / the
Counterparties		   Cash
Collateral for
the Benefit of
(the Funds) / the
Counterparties		   Net Amount 
-1x Short VIX Futures ETF  $(187,030)  $        -   $          -   $(187,030)
2x Long VIX Futures ETF   830,840    -    -    830,840