A large aspect ratio leads to higher ion capacity in miniaturized ion trap mass spectrometers. The aspect ratio (AR) of an ion trap represents the ratio between an extended trapping dimension and the characteristic trapping dimension. In contrast to linear and rectilinear traps, changing the AR of a toroidal ion trap (TorIT) results in changes to the degree of curvature and shape of the trapping potential, and hence, on performance as a mass analyzer. SIMION simulations show that higher-order terms in the trapping potential vary strongly for small and moderate AR values (below ~10), with the effects asymptotically flattening for larger AR values. Because of the asymmetry in electrode geometry, the trapping center does not coincide with the geometric center of the trap, and this displacement also varies with AR. For instance, in the asymmetric TorIT, the saddle point in the trapping potential and the geometric trap center differ from +0.6 to -0.4 mm depending on AR. Ion secular frequencies also change with the AR. Whereas ions in the simplified TorIT have stable trajectories for any value of AR, ions in the asymmetric TorIT become unstable at large AR values. Variations in high-order terms, the trapping center, and secular frequencies with AR are a unique feature of toroidal traps, and require significant changes in trap design and operation as the aspect ratio is changed.