{
 "ticker": "AALG",
 "name": "Leverage Shares 2X Long AAL Daily ETF",
 "issuer": "Leverage Shares",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/AALG",
 "html": "https://etfiq.com/funds/AALG",
 "markdown": "https://etfiq.com/funds/AALG.md",
 "as_of": "2026-09-11",
 "verdict": "Three months to Sep 11, 2026: AALG returned \u221230.6% where its own daily promise gave \u221228.4%, 2.2 points short.",
 "key_facts": [
  {
   "key": "what_aal_did",
   "label": "What AAL did",
   "value": "\u221213.2%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "AALG, what AAL did: \u221213.2%, as of Sep 11, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What +2 times a day gives",
   "value": "\u221228.4%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "AALG, what +2 times a day gives: \u221228.4%, as of Sep 11, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221230.6%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "AALG, what the fund returned: \u221230.6%, as of Sep 11, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22122.2 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "AALG, the fund itself cost: \u22122.2 pts, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$3m",
   "source": "issuer page, as of Sep 10, 2026",
   "as_of": "2026-09-11",
   "sentence": "AALG, net assets: $3m (issuer page, as of Sep 10, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.78%",
   "source": "485BPOS XBRL, Feb 27, 2026",
   "as_of": "2026-09-11",
   "sentence": "AALG, expense ratio: 0.78% (485BPOS XBRL, Feb 27, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of AAL, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+2.33 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "AAL",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$3m",
   "source": "issuer page, as of Sep 10, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.78%",
   "source": "485BPOS XBRL, Feb 27, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Jul 11, 2025",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "46% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u221225.6%",
   "AAL": "\u221212.9%",
   "+2x the move": "\u221225.7%",
   "Difference": "+0.1 pts",
   "AAL moved about": "26%"
  },
  {
   "window": "3 months",
   "Fund": "\u221230.6%",
   "AAL": "\u221213.2%",
   "+2x the move": "\u221226.3%",
   "Difference": "\u22124.3 pts",
   "AAL moved about": "46%"
  },
  {
   "window": "6 months",
   "Fund": "+33.9%",
   "AAL": "+26.3%",
   "+2x the move": "+52.6%",
   "Difference": "\u221218.8 pts",
   "AAL moved about": "49%"
  },
  {
   "window": "1 year",
   "Fund": "\u221228.2%",
   "AAL": "+0.5%",
   "+2x the move": "+0.9%",
   "Difference": "\u221229.1 pts",
   "AAL moved about": "47%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221224.5%",
   "AAL": "+6.5%",
   "+2x the move": "+12.9%",
   "Difference": "\u221237.4 pts",
   "AAL moved about": "48%"
  }
 ],
 "questions": [
  {
   "q": "Did AALG return +2 times AAL?",
   "a": "Over the window to Sep 11, 2026, AAL moved \u221213.2% and AALG returned \u221230.6%. 2 times that move is \u221226.3%, so the fund came out 4.3 points short of it."
  },
  {
   "q": "Why does AALG not return +2 times over a year?",
   "a": "Because it resets daily. AALG aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}