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How AAOG Works: The Mechanics of the Leverage Shares 2X Long AAOI Daily ETF

Sep 23, 2026 | Team Kalkine

Read Time :10 Mins

How AAOG Works: The Mechanics of the Leverage Shares 2X Long AAOI Daily ETF — Image source: Shutterstock

The Leverage Shares 2X Long AAOI Daily ETF (Cboe: AAOG) is designed to provide 200% of the daily performance of Applied Optoelectronics, Inc. (NASDAQ: AAOI), before fees and expenses. The fund is structured for sophisticated investors and active traders seeking leveraged bullish exposure to AAOI over short holding periods. The ETF has a 0.75% total expense ratio and rebalances its exposure daily.

Applied Optoelectronics, Inc. (NASDAQ: AAOI) is a semiconductor and optical-device company focused on products used in fiber-optic networking and communications infrastructure. Its share price can be influenced by data-center demand, artificial-intelligence infrastructure spending, cloud-computing investment, optical-networking demand, customer orders, semiconductor-sector conditions, earnings results, margins, and broader technology-market sentiment.

The Leverage Shares 2X Long AAOI Daily ETF provides leveraged long exposure to AAOI without requiring an investor to purchase the underlying stock with equivalent capital. If AAOI rises by 5% during a trading session, AAOG is designed to gain approximately 10%, before fees, expenses, financing costs, and tracking effects. Conversely, if AAOI falls by 5% in a session, AAOG is designed to decline by approximately 10%.

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