The Vertical Spacing tool enables you to manipulate selected objects in such a way that the space that appears between each object vertically is evenly distributed. This operation works on 3 or more selected objects. VTS treats the top-most and bottom-most objects as the anchors, and spaces the intermediate objects evenly between them.
To space selected objects evenly down an application page, select the objects and click the Vertical Spacing button.

In the example below, the yellow circle will change position so that it is evenly spaced between the blue square and the red triangle.
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The yellow circle appears between the square and triangle. |
Select the objects. |
Click the Vertical Spacing button. |
The yellow circle's position is adjusted. It now appears an even distance from the square and triangle. |