Leverage Shares 2X Long AAOI Daily 

AAOG is designedfor makingbullishbets on the stock price ofApplied Optoelectronics, Inc. (Nasdaq: AAOI), through swap agreements. Theobjectiveis to obtain daily leveraged exposure equivalent to 200% of the fund's net assets. Tomaintainthis exposure, daily rebalancing is performed tomake adjustmentsin response toAAOI's daily price movements. As a geared product, the fund is intended as a short-term tactical tool, ratherthan asa long-term investment vehicle. As a result, returns may deviate from the expected 2x if held for longer than a single day due to compounding. This strategy is high-risk and does not include a defensive position as part of its overall process. Note that shouldAAOI's value decline by more than 50%relativeto thefund,investors could face a total loss. Additionally, the fund could potentially lose money over time, even ifAAOI's performance strengthens. The fund is expected to invest inmoneymarket funds, deposit accounts, and short-term debts.