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Launched · SEC filings

Leverage Shares 2x Long DUOL Daily ETF

DUOGNasdaqCThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$49.43−5.89 (−10.65%)

At close: Oct 13, 2026, 4:00 PM

C40/ 100

Rank 131 of 380 in Single-Stock Long Leveraged

C40/100Rank 131 of 380inSingle-Stock Long Leveraged
Intraday session: down, 18 prints from 55.32 to 49.43. Range 49.43 to 55.81. Use the arrow keys to read each point.51.0052.0053.0054.0010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$3M
1Y total return
—
Yield · Last 12 months
—
Holdings
5
Avg volume · 30D
0M sh
NAV per share
$56.98
52W range
low $25.15high $159.80
Launched
Filings
SEC EDGAR

The ETF.net DUOG Grade

Based on 5 of 6 pillars

C

Score 40 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
131 of 380
Six-pillar profile for DUOG. Scores out of 100: Cost 67, Risk 39, Mission 85, Tradability 72, Holdings not scored, Durability 46. Strongest: Mission (85). Weakest: Risk (39). Based on 5 of 6 pillars.

Score 40 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

Very small fund, grade capped at C.

The cap holds the Score at 40 or below, so B and A are out of reach.

The pillars earned
60
This cap took
−20
Published Score
40 Grade C

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B67 out of 100
    Rank 87 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A85 out of 100
    Rank 106 of 148

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D39 out of 100
    Rank 241 of 363

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A72 out of 100
    Rank 77 of 380

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C46 out of 100
    Rank 211 of 380

Our read on DUOG

ETF.net Research

COne ticker, double the daily move in Duolingo. DUOG aims for 2x DUOL's daily performance before fees, at 0.75% a year, and it resets that target every day, which makes it a short-horizon tool rather than a hold-forever one.

Stated mandate

The fund seeks two times the daily performance of Duolingo, Inc. common stock, before fees and expenses, through daily leveraged exposure.

Why people hold it

  1. 01Fee lane matters in this corner of the market: 0.75% a year, under the 0.96% Direxion charges on 2x single-stock funds like AAPU and GGLL.leverageshares.com
  2. 02The mandate is one line: two times DUOL's daily performance before fees and expenses. Nothing discretionary, and daily results have tracked close to that stated target.leverageshares.com
  3. 03Geared Duolingo exposure without a margin account or an options ticket: one ETF ticker inside a registered 1940 Act fund wrapper.
  4. 04Stands in the top quartile of bull-side single-stock leveraged funds on our review, driven by its low fee and a clean read on its stated mandate.

Worth knowing

  1. 01The 2x target applies to a single day. Ride out a choppy stretch in DUOL and the multi-day result can land well away from twice the stock's move.
  2. 02Everything rides on one stock. A single earnings gap or guidance stumble at Duolingo lands here at roughly double force.
  3. 03Launched in December 2025, small and lightly traded, so spreads can run wider than on the giant leveraged single-stock names. It has not been paying distributions.

DUOG Holdings

As of Oct 11, 2026
Asset class
Stocks
Holdings
5
Top-10 weight
208%
Largest holding
Duolingo Inc Swap Cs160.4%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Duolingo Inc Swap Cs160.43%50,798$7M1
002—Duolingo Inc Swap Mar39.05%12,365$2M1
003—First American Treasury Obligations Fund 01/01/20407.70%356,270$356K151
004—Duolingo, Inc.-Swap-Jnst-L0.35%110$16K1
005—Duolingo Inc Swap Cf0.16%50$7K1

Showing 1–5 of 5 holdings

DUOG Performance

Launched Dec 11, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
DUOG$4,733
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,500
Dec 31, 2025 to Oct 12, 2026. DUOG $4,733. SPY $11,500. Use the arrow keys to read each point.$1,546$6,899$12,253Dec 2025May 2026Oct 2026

Dec 31, 2025 – Oct 12, 2026

Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for DUOG. Periods over one year show the average yearly return.
PeriodDUOG
Year to date−52.7%
1 month+2.6%
3 months+22.5%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for DUOG
YearReturn barDUOG
2026 YTD−52.7%
2025−24.8%

Since listing, Dec 11, 2025

DUOG in the news

Filtered to DUOG · Single-Stock Long Leveraged

DUOG Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 12, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Dec 2025. No distributions yet.

DUOG Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
2.11
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

DUOG Cost

Expense ratio0.75%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

86 of the 333 Single-Stock Long Leveraged funds charge less.

DUOG costs $75.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.

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