---
title: "Tradr 2X Long AAOI Daily ETF, AAOX, is down 86.1% since March 24. Applied Optoelectronics is down 33.7%"
url: "https://etf.net/news/aaox-plunges-since-march-24-2026-10-16"
published_at: "2026-10-16T22:18:03.222Z"
updated_at: "2026-10-16T22:18:03.222Z"
byline: "ETF.net Research"
---

# Tradr 2X Long AAOI Daily ETF, AAOX, is down 86.1% since March 24. Applied Optoelectronics is down 33.7%

This week Tradr's 2x long fund on Applied Optoelectronics lost 54.6%, a smaller loss than twice the stock's 31.1% drop, because the stock fell every session.

By ETF.net Research. Published Oct 16, 2026.

The Tradr 2X Long AAOI Daily ETF, AAOX, is down **86.1%** from its first close on March 24. Applied Optoelectronics, the stock the fund aims to double each day, is down **33.7%** from that same close. The fund's loss is more than twice the stock's decline.

From a first close of $34.69 on March 24, it fell to $4.81 on Friday, Oct. 16, its lowest close since it listed on March 23. That close is 95% below the highest price the fund has reached, well above the $34.69 start.

## Five down days cushioned both holders

In the week ended Oct. 16, Applied Optoelectronics fell **31.1%**, and it fell every session. AAOX lost **54.6%**. The Tradr 2X Short AAOI Daily ETF, AAOZ, gained **92.4%**.

Chart: **AAOZ** nearly doubled as **AAOI** fell five days

In an Oct. 15 release, Applied Optoelectronics described itself as a provider of optical networking products that power artificial intelligence.

The Motley Fool wrote Friday that the drop followed a warning from Broadcom CEO Hock Tan that funding constraints could slow spending on artificial intelligence infrastructure, and that the warning hit optical suppliers including Applied Optoelectronics.

A 54.6% loss is smaller than twice a 31.1% decline. A 92.4% gain is larger than twice that decline.

The stock fell five days in a row, so later losses in the long fund came out of a smaller balance, and later gains in the short fund were added to a larger one. Against a straight double of the week, compounding helped both holders.

Doubling each day's drop and compounding those five results came within half a percentage point of the long fund's loss. Doubling each drop the other way, as a gain, and compounding those, came within half a percentage point of the short fund's rise.

On its fund page, Tradr, the issuer, says AAOX seeks twice the stock's move for a single day, and does not seek that result over any longer period.

A second issuer ran the same daily long bet. The Leverage Shares 2X Long AAOI Daily ETF, AAOG, fell 54.9% this week.

AAOX has $187 million in assets. AAOZ has $11.2 million. This week's gain sat in the smaller fund. The decline since March 24 sits in the larger one.

This week, compounding cushioned a holder of AAOX, with a loss smaller than twice the stock's drop. Since March 24, compounding has cost a holder who kept the fund. The fund is down 86.1% against a 33.7% decline in the stock.

Source: etf.net, https://etf.net/news/aaox-plunges-since-march-24-2026-10-16. Please cite the page URL.