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A novel active region design is proposed to achieve long-wavelength (λ = 1550-nm) diode lasers based on a type-II quantum-well (QW) design of (In)GaAsN-GaAsSb grown on a GaAs substrate. The strain-compensated structures hold potential as an ideal active region for 1500-nm GaAs-based vertical cavity surface emitting lasers. A design analysis and optimization of 1550-nm emitting structures is presented. An optimal type-II multiple-QW design allows for electron-hole wavefunction overlaps of greater than 50%.