Leverage Shares 2× Long AAL Daily ETF Leverage Shares 2X Long AAL Daily ETF (AALG) is an actively managed exchange-traded fund that seeks to deliver two times (200%) the daily percentage change in the share price of American Airlines Group Inc. American Airlines Group Inc., prior to fees and expenses; it achieves this objective through investments comprising at least 80% of its net assets in financial instruments including swaps with counterparties such as Cantor, Clearstreet, and Marex, alongside cash equivalents like the First American Treasury Obligations Fund. The ETF, which trades on the Nasdaq exchange under the ticker AALG with CUSIP 882927312 and ISIN US8829273122, features a total expense ratio of 0.75%, daily rebalancing, four holdings, and a 30-day median bid/ask spread of 0.48%; it targets sophisticated active traders comfortable with leveraged exposure rather than long-term buy-and-hold investors, given the compounding effects and potential for principal loss even if the underlying stock rises over multi-day periods. Launched on July 11, 2025, and issued under Themes ETF Trust by Leverage Shares—a provider of single-stock leveraged ETPs and ETFs founded in 2017 with headquarters in Greenwich, Connecticut, and Dublin, Ireland—the fund operates principally in the United States with exposure to the industrials sector via its AAL benchmark. Among its most recent developments, Leverage Shares expanded its U.S. single-stock leveraged ETF lineup in November 2025 with new 2x long daily ETFs on stocks including Nu Holdings, Cloudflare, Okta, Teradyne, Newmont, Chipotle, Airbnb, Spotify, and Starbucks; in late November 2025, it became the 20th crypto ETP issuer on SIX Swiss Exchange by listing the world's first triple-leveraged (3x long and -3x short) ETPs on Bitcoin and Ethereum, traded in EUR and USD.