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Investments (Tables)

3 Months Ended

Mar. 31, 2026

Investments [Abstract]

Schedule of Fair Value of Derivative Instruments

Fair values of derivative instruments as of March 31, 2026 (Unaudited) and December 31, 2025:

		Statements of		Fair Value								Statements of		Fair Value
		Assets and Liabilities		As of March 31, 2026 (Unaudited)								Assets and Liabilities		As of December 31, 2025
-1x Short VIX Futures ETF		Location		Assets				Liabilities				Location		Assets				Liabilities
Purchased Option Contracts:
Index		Investments, at value		$	442,800			$	-			Investments, at value		$	891,000			$	-
Short Futures Contracts:
Index		Unrealized Depreciation*			-				(5,122,740	)		Unrealized Appreciation*			17,264,334				-
Total fair values of derivative instruments				$	442,800			$	(5,122,740	)				$	18,155,334				-

2x Long VIX Futures ETF				Assets				Liabilities						Assets				Liabilities
Long Futures Contracts:
Index		Unrealized Appreciation*		$	15,861,139			$	-			Unrealized Depreciation*		$	-			$	(60,520,981	)
Total fair values of derivative instruments				$	15,861,139			$	-					$	-			$	(60,520,981	)

* Includes cumulative appreciation (depreciation) of futures contracts as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statements of Financial Condition in receivable/payable on open futures.

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 March 31, 2026 (Unaudited) and March 31, 2025 (Unaudited):

		Net Realized Gain (Loss) on Derivatives												Net Realized Gain (Loss) on Derivatives
		For the three months ended March 31, 2026 (Unaudited)												For the three months ended March 31, 2025 (Unaudited)
			Purchased				Short								Purchased				Short
-1x Short VIX Futures ETF			Option				Futures								Option				Futures
Derivatives			Contracts*				Contracts				Total				Contracts*				Contracts				Total
Index Contracts		$	(119,483	)		$	(57,533,903	)		$	(57,653,386	)		$	(1,518,833	)		$	(26,461,856	)		$	(27,980,689	)
Total		$	(119,483	)		$	(57,533,903	)		$	(57,653,386	)		$	(1,518,833	)		$	(26,461,856	)		$	(27,980,689	)

			Purchased				Long								Purchased				Long
2x Long VIX Futures ETF			Option				Futures								Option				Futures
Derivatives			Contracts*				Contracts				Total				Contracts*				Contracts				Total
Index Contracts		$	-			$	141,513,502			$	141,513,502			$	-			$	78,077,648			$	78,077,648
Total		$	-			$	141,513,502			$	141,513,502			$	-			$	78,077,648			$	78,077,648

		Net Change in Unrealized Appreciation (Depreciation) on Derivatives												Net Change in Unrealized Appreciation (Depreciation) on Derivatives
		For the three months ended March 31, 2026 (Unaudited)												For the three months ended March 31, 2025 (Unaudited)
			Purchased				Short								Purchased				Short
-1x Short VIX Futures ETF			Option				Futures								Option				Futures
Derivatives			Contracts**				Contracts				Total				Contracts**				Contracts				Total
Index Contracts		$	(316,703	)		$	(22,387,074	)		$	(22,703,777	)		$	90,533			$	(4,663,230	)		$	(4,572,697	)
Total		$	(316,703	)		$	(22,387,074	)		$	(22,703,777	)		$	90,533			$	(4,663,230	)		$	(4,572,697	)

			Purchased				Long								Purchased				Long
2x Long VIX Futures ETF			Option				Futures								Option				Futures
Derivatives			Contracts**				Contracts				Total				Contracts**				Contracts				Total
Index Contracts		$	-			$	76,382,120			$	76,382,120			$	-			$	2,686,893			$	2,686,893
Total		$	-			$	76,382,120			$	76,382,120			$	-			$	2,686,893			$	2,686,893

* The amounts disclosed are included in the realized gain (loss) on investments.

** The amounts disclosed are included in the unrealized appreciation (depreciation) on investments.

Schedule of Average Notional Value Contracts

The following table indicates the average volume when in use for the quarter ended March 31, 2026 (Unaudited):

		-1x Short VIX Futures ETF				2x Long VIX Futures ETF
Average notional value of long futures contracts		$	-			$	689,615,808
Average notional value of short futures contracts			(273,506,050	)			-

The following table indicates the average volume when in use for the quarter ended March 31, 2026 (Unaudited):

		-1x Short VIX Futures ETF				2x Long VIX Futures ETF
Average notional value of purchased options contracts		$	13,377,600			$	-

The following table indicates the average volume when in use for the quarter ended March 31, 2025 (Unaudited):

		-1x Short VIX Futures ETF				2x Long VIX Futures ETF
Average notional value of long futures contracts		$	-			$	361,208,955
Average notional value of short futures contracts			(294,031,130	)			-

The following table indicates the average volume when in use for the quarter ended March 31, 2025 (Unaudited):

		-1x Short VIX Futures ETF				2x Long VIX Futures ETF
Average notional value of purchased options contracts		$	22,060,300			$	-

Schedule of Pledged by Funds Fair Values of Derivative Instruments

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 March 31, 2026 and December 31, 2025.

Fair Values of Derivative Instruments as of March 31, 2026 (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		$	29,193,177			$	-			$	29,193,177			$	-			$	-			$	-
2x Long VIX Futures ETF			-				-				-				64,933,436				-				64,933,436

Fair Values of Derivative Instruments as of December 31, 2025
		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		$	-			$	-			$	-			$	2,218,776			$	-			$	2,218,776
2x Long VIX Futures ETF			6,528,043				-				6,528,043				-				-				-

Schedule of Gross Amounts Not Offset in the Statements of Financial Condition

Gross Amounts Not Offset in the Statements of Financial Condition as of March 31, 2026 (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		$	29,193,177			$	-			$	-			$	29,193,177
2x Long VIX Futures ETF			(64,933,436	)			-				-				(64,933,436	)

Gross Amounts Not Offset in the Statements of Financial Condition as of December 31, 2025
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		$	(2,218,776	)		$	-			$	-			$	(2,218,776	)
2x Long VIX Futures ETF			6,528,043				-				-				6,528,043

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