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PALU

GradeCNASDAQ Global Select

Direxion Daily PANW Bull 2X ETF

Leveraged · Single-Stock Leveraged · Direxion · Inception 2025-03-26

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$60.17+3.99 (+7.10%)

As of Sep 23, 2026, 2:19 PM EDT

History starts Mar 26, 2025.
Intraday session: up, 56 prints from 56.18 to 60.17. Range 56.68 to 60.20. Use the arrow keys to read each point.$57.00$58.00$59.0010 AM12 PM2 PM4 PM
Expense ratio
1.48%
Fund size
$38M
1Y return
+135.8%
Yield · Last 12 months
3.64%
Volume · 30D
0.2M sh
NAV per share
$56.52
52W range
low $9.85high $67.86

The ETF.net PALU Grade

C

47/ 100

Rank 95 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for PALU. Scores out of 100: Cost 21, Risk 74, Mission 94, Tradability 64, Holdings not scored, Durability 76. Strongest: Mission (94). Weakest: Cost (21). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 47 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 21
    Category rank301/380 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 94
    Category rank55/147 · top 37%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 74
    Category rank43/285 · top 15%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 64
    Category rank110/380 · top 29%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 76
    Category rank41/380 · top 11%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on PALU

ETF.net Research

COne of the few ETFs offering 2x the daily move of Palo Alto Networks, and Direxion pairs it with a bear twin. Built one session at a time: exposure resets daily, so longer holds drift from twice the stock's move.

Stated mandate

The fund seeks daily investment results, before fees and expenses, equal to 200% of the performance of Palo Alto Networks common shares.

Why people hold it

  1. 01Direxion runs both sides of the same trade: PALU for 2x long PANW, PALD for the bear. Same mechanics, opposite direction.direxion.com
  2. 02No index, no basket, no committee. One stock, one multiple: the fund aims for 200% of Palo Alto Networks' daily move, before fees and expenses.direxion.com
  3. 03It has hit its stated daily target closely since launch, which is the whole job for a leveraged single-stock fund.

Worth knowing

  1. 01The fee is 1.48% a year, against 0.75% at PANG, the other 2x PANW fund. In a vehicle built for short holds, that daily drag adds up.
  2. 02The 2x math resets every session. Hold through a choppy stretch and results can land far from twice PANW's move over that stretch, in either direction.
  3. 03One stock, doubled: a PANW earnings gap hits here at twice the size. The fund also launched in 2025 and remains small, with a short track record behind it.

PALU Holdings

As of Sep 22, 2026, 10:02 PM
Asset class
Stocks
Holdings
—
Top-10 weight
98%
Largest holding
PANW SWAP ASSET LEG (PANWNML)18.4%

Sectors

  • Technology100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—PANW SWAP ASSET LEG (PANWNML)18.35%49,845$19M1
002—DREYFUS GOVT CASH MAN INS16.42%16,573,094$17M108
003—PANW SWAP ASSET LEG (PANWBPL)12.46%33,852$13M1
004—PANW SWAP ASSET LEG (PANWCTL)10.46%28,420$11M1
005—PANW SWAP ASSET LEG (PANWGSL)10.45%28,370$11M1
006—PANW SWAP ASSET LEG (PANWMLL)7.33%19,916$7M1
007—PANW SWAP ASSET LEG (PANWBCL)6.77%18,381$7M1
008—GOLDMAN FINL SQ TRSRY INST 5066.49%6,550,183$7M100
009PANWPALO ALTO NETWORKS INC5.47%14,853$6M486
010—DREYFUS TRSRY SECURITIES CASH MGMT4.20%4,241,423$4M82
011—GOLDMAN SACHS FIN GOV 465 INSTITUT1.59%1,610,002$2M75

Showing 1–11 of 11 holdings

PALU Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

PALU$23,584
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. PALU $23,584. SPY $11,723. Use the arrow keys to read each point.$2,470$16,199$29,928Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for PALU. Periods over one year show the average yearly return.
PeriodPALU
Year to date+217.0%
1 month+3.8%
3 months+52.8%
1 year+135.8%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for PALU
YearReturn barPALU
2026 YTD+217.0%
2025−17.5%

Since listing, Mar 26, 2025

PALU in the news

ETF.net Research hasn’t filed on PALU yet — coverage lands here as it’s written.

PALU Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
3.64%Last 12 months
Payout per share
$2.05Last 12 months
Upcoming payment
$0.11 per share
Pays on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2025–2026

One bar per payment. 7 payments from 2025 to 2026 YTD. Jun 24, 2025 $0.12; Sep 23, 2025 $0.15; Dec 10, 2025 $1.49; Dec 23, 2025 $0.12; Mar 24, 2026 $0.06; Jun 23, 2026 $0.12; Sep 22, 2026 $0.11. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Pays Sep 29, 2026$0.11
Jun 23, 2026Jun 30, 2026$0.12
Mar 24, 2026Mar 31, 2026$0.06
Dec 23, 2025Dec 31, 2025$0.12
Dec 10, 2025Dec 17, 2025$1.49
Sep 23, 2025Sep 30, 2025$0.15
Jun 24, 2025Jul 1, 2025$0.12

PALU Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
133.6%
Annualised · 17 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.06
vs 3-month T-bills · 17 months to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−62.1%
17 months · trough Feb 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
3.31
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

PALU Cost

Expense ratio1.48%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

266 of the 329 Single-Stock Long Leveraged funds charge less.

PALU costs $148.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.