Tradr 2X Long APLD Daily ETF, a series of Investment Managers Series Trust II, is an actively managed exchange-traded fund that seeks daily investment results, before fees and expenses, equal to two times the daily performance of Applied Digital Corporation common shares; it trades on Cboe under ticker APLX and is designed for short-term tactical use rather than long-term holding periods. The fund was launched in 2025 and is based in the United States; Tradr ETFs operates from its website tradretfs.com and offers leveraged and inverse ETFs across single stocks, sector themes, and broad-market reference securities. It charges an expense ratio of 1.30%, has options available, and uses Applied Digital as its sole reference security, positioning the product within Tradr’s AI ecosystem lineup alongside other leveraged funds tied to companies involved in AI hardware, software, infrastructure, and related services. In recent developments, Tradr expanded its lineup in 2026 with new leveraged ETFs including funds linked to Coherent, Lightwave Logic, Everspin, SiTime, UMC, and SK hynix; it also filed for long and short Anthropic ETFs in September 2026, underscoring a continued strategic focus on AI- and semiconductor-related trading products.