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DUOG

GradeCNASDAQ Global Market

Leverage Shares 2x Long DUOL Daily ETF

Leveraged · Single-Stock Leveraged · LeverageShares · Inception 2025-12-11 · SEC filings

This 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.

$56.14−0.29 (−0.51%)

As of Sep 23, 2026, 2:51 PM EDT

History starts Dec 11, 2025.History starts Dec 11, 2025.
Intraday session: down, 20 prints from 56.43 to 56.14. Range 54.12 to 56.62. Use the arrow keys to read each point.$54.00$55.0010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$4M
1Y return
—
Yield · Last 12 months
—
Holdings
5
Volume · 30D
0M sh
NAV per share
$57.73
52W range
low $25.15high $159.80

The ETF.net DUOG Grade

C

40/ 100

Rank 155 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for DUOG. Scores out of 100: Cost 67, Risk 40, Mission 83, Tradability 68, Holdings not scored, Durability 46. Strongest: Mission (83). Weakest: Risk (40). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 40 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned59This cap took−19Published score40 Grade C

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 67
    Category rank115/380 · top 30%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 83
    Category rank116/147 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 40
    Category rank185/285 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 68
    Category rank99/380 · top 26%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 46
    Category rank215/380 · mid-pack

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

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 Sep 21, 2026, 6:57 PM
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$356K147
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

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

DUOG$4,827
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. DUOG $4,827. SPY $11,430. Use the arrow keys to read each point.$1,516$6,861$12,205Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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−51.7%
1 month−1.2%
3 months+17.0%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per 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−51.7%
2025−24.8%

Since listing, Dec 11, 2025

DUOG in the news

ETF.net Research hasn’t filed on DUOG yet — coverage lands here as it’s written.

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 Sep 22, 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.
2.07
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%

85 of the 329 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.