Which came closer to its stated multiple, AAOG or AAOX?

Over the window to Sep 30, 2026, AAOG finished 9.9 points from what its multiple implies and AAOX finished 9.6 points from its own, so AAOX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are AAOG and AAOX levered on the same thing?

Yes. Both are levered on Applied Optoelectronics, AAOG at +2 times and AAOX at +2 times the daily move.

Which one decays faster, AAOG or AAOX?

Decay follows how much the underlying moves about. Over this window AAOG’s moved at 122% annualized and AAOX’s at 122%, so AAOG has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold AAOG or AAOX for a year?

Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.

Which is cheaper, AAOG or AAOX?

AAOG charges 0.75% a year and AAOX charges 1.49%, so AAOG is cheaper. Fees come from each fund's prospectus.

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AAOG vs AAOX: which held to its multiple?

Over the days both have traded, AAOG finished 9.9 points from its stated multiple and AAOX 9.6. Leverage Shares 2X Long AAOI Daily ETF and Tradr 2X Long AAOI Daily ETF.

−67.0%

AAOG returned, 3 months

−66.8%

AAOX returned, 3 months

−9.9 pts

AAOG from its stated multiple

−9.6 pts

AAOX from its stated multiple

AAOG · 3 months to Sep 30, 20269.9 pts short of its stated multiple

AAOG returned −67.0% while 2 times AAOI's move would have been −57.2%

AAOX · 3 months to Sep 30, 20269.6 pts short of its stated multiple

AAOX returned −66.8% while 2 times AAOI's move would have been −57.2%

ETFIQ Decay Resistance Score · AAOX scores higherDid it keep up with its own daily multiple, compounded day by day?

AAOG 65.7

AAOX 74.1

0.1, the lowest in this set99.9, the highest

A percentile among the 470 leveraged ETFs, long, over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →

Performance, window by window

	Total return		Multiple would give		Difference
Window	AAOG	AAOX	AAOG	AAOX	AAOG	AAOX
1 month	−19.3%	−19.5%	−15.7%	−15.7%	−3.6 pts	−3.8 pts
3 months	−67.0%	−66.8%	−57.2%	−57.2%	−9.9 pts	−9.6 pts
6 months	not published	−51.1%	not published	+29.9%	not published	−81.0 pts
Since launch AAOG May 2026 · AAOX Mar 2026	−86.8%	−73.6%	−94.6%	−25.7%	+7.7 pts	−47.9 pts

AAOG and AAOX over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

AAOG

Leverage Shares 2X Long AAOI Daily ETF · Aims to return twice the daily move of Applied Optoelectronics (AAOI)

AAOX

Tradr 2X Long AAOI Daily ETF · Aims to return twice the daily move of Applied Optoelectronics (AAOI)

Issuer Leverage Shares Tradr

Sets out to return +2x +2x

Underlying asset AAOI AAOI

Segment company company

Fund returned, 3 months or since launch −67.0% −66.8%

Underlying returned, over that window −28.6% −28.6%

What the stated multiple implies, over that window −57.2% −57.2%

Difference from stated, over that window −9.9 pts −9.6 pts

Fund returned, 1 year or since launch −86.8% −73.6%

Difference from stated, over that window +7.7 pts −47.9 pts

Underlying volatility 122% 122%

Difference over the days both have traded −9.9 pts −9.6 pts

Expense ratio 0.75% 1.49%

Launched May 12, 2026 Mar 24, 2026

Net assets $26m $233m

AAOG and AAOX on the same fields, as of Sep 30, 2026. Source: ETFIQ.

AAOG in plain words

Three months to Sep 30, 2026: AAOG returned −67.0% where its own daily promise gave −64.9%, 2.2 points short. Read the multiple against the whole window instead and 2 times AAOI's −28.6% implies −57.2%, which makes AAOG look 9.9 points short. 7.7 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. AAOG aims to return +2 times AAOI's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. AAOI moved at 122% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.

AAOX in plain words

Three months to Sep 30, 2026: AAOX returned −66.8% where its own daily promise gave −64.9%, 1.9 points short. Read the multiple against the whole window instead and 2 times AAOI's −28.6% implies −57.2%, which makes AAOX look 9.6 points short. AAOX aims to return +2 times AAOI's move each day, then resets.

Questions people ask

Which came closer to its stated multiple, AAOG or AAOX?: Over the window to Sep 30, 2026, AAOG finished 9.9 points from what its multiple implies and AAOX finished 9.6 points from its own, so AAOX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are AAOG and AAOX levered on the same thing?: Yes. Both are levered on Applied Optoelectronics, AAOG at +2 times and AAOX at +2 times the daily move.
Which one decays faster, AAOG or AAOX?: Decay follows how much the underlying moves about. Over this window AAOG’s moved at 122% annualized and AAOX’s at 122%, so AAOG has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold AAOG or AAOX for a year?: Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
Which is cheaper, AAOG or AAOX?: AAOG charges 0.75% a year and AAOX charges 1.49%, so AAOG is cheaper. Fees come from each fund's prospectus.

Other comparisons

AAOG vs AAOZ AAOX vs AAOZ

AAOG on its own →AAOX on its own →How every figure is computed →Standards and sources →

Where these figures came from

AAOG filings on SEC EDGAR ↗AAOG prospectus with the expense ratio (SEC) ↗Leverage Shares website ↗AAOX filings on SEC EDGAR ↗AAOX prospectus with the expense ratio (SEC) ↗Tradr website ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, AAOG against AAOX, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/aaog-vs-aaox

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.