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AALG vs PANG

Leverage Shares 2x Long AAL Daily ETF

AALGCNasdaq

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

Expense ratio

PANG −0.02pt a year

AALG0.78%PANG0.76%

Avg volume · 30D

PANG 1.1×the volume

AALG40.5KPANG44.6K

AALG vs PANG Performance

Oct 31, 2025 – Oct 30, 2026

−34.0%AALG+91.6%PANG

Oct 31, 2025 to Oct 30, 2026. AALG −34.0%. PANG +91.6%. Use the arrow keys to read each point.0%50%150%Oct 2025Apr 2026Oct 2026
Expense ratio
AALG 0.78%
PANG 0.76%, better
Fund size
AALG $4M
PANG $9M
1Y total return
AALG −34.0%
PANG +91.6%, better
Holdings
AALG 5
PANG 4
Avg volume (30D)
AALG 40.5K sh
PANG 44.6K sh, better
NAV per share
AALG $8.99
PANG $31.31
52W range

ETF.net Grade

AALG: Cost 60, Risk 67, Mission 93, Tradability 65, Holdings not scored, Durability 53. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for AALG, PANG, with each pillar’s weight
PillarAALGPANG
Cost30% weightB60A70Higher
Mission25% weightA93A94Higher
Risk15% weightB67A74Higher
Tradability15% weightB65A74Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC53B59Higher

Rank among Single-Stock Long Leveraged funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. AALG and PANG are both graded against the same 315 Single-Stock Long Leveraged funds, so their Grades compare head to head.

Single-Stock Long Leveraged⁠

Category · 315 funds
See all 315 ›

PANG ranks 3rd and AALG 123rd of 315 funds in the Single-Stock Long Leveraged Category.

  1. Rank 1ATSMGLeverage Shares 2x Long TSM Daily ETFScore 73
  2. Rank 2AUNHGLeverage Shares 2x Long UNH Daily ETFScore 72
  3. Rank 3AOKTGLeverage Shares 2x Long OKTA Daily ETFScore 70
  4. Rank 3APANGLeverage Shares 2x Long PANW Daily ETFScore 70
  5. Rank 5BAMDGLeverage Shares 2x Long AMD Daily ETFScore 69
  6. Rank 118CWDCXTradr 2X Long WDC Daily ETFScore 41
  7. Rank 123CAALGLeverage Shares 2x Long AAL Daily ETFScore 40
  8. Rank 123CAAPELeverage Shares 2X Long AAPL Daily ETFScore 40

Our read on each fund

ETF.net Research

AALGCLeverage Shares 2x Long AAL Daily ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

AALG American Airlines, amplified. AALG came to market first with 2x daily exposure to AAL, and at 0.78% it charges less than the typical leveraged single-stock fund. The leverage resets every day.

PANG Palo Alto Networks, doubled. PANG aims for 200% of PANW's daily move, reset every day, and it reached the market days before the only other 2x PANW fund. Flat 0.76% fee, no waiver attached.

Stated mandate

AALG The fund seeks daily investment results, before fees and expenses, equal to 200% of the daily performance of American Airlines Group stock.

PANG The ETF seeks daily investment results, before fees and expenses, equal to 200% of the daily performance of Palo Alto Networks, Inc. stock.

Why people hold it

  • AALG Launched July 2025 as the first ETF offering 2x daily leveraged exposure to American Airlines stock, a corner of the single-stock market rivals reached later.globenewswire.com
  • Charges 0.78% with no waiver attached, below the median fee in its leveraged single-stock peer group. For scale, TSMG runs 0.76% and UNHG 0.77%, also unwaived.
  • Built to do one job: swaps on AAL sized for 200% of the stock's daily move. No index committee, no basket, nothing diluting the airline bet.leverageshares.com
  • Ranks in the upper half of a crowded leveraged single-stock field on how closely it has hit its stated daily target.
  • PANG Cheaper of the two 2x PANW funds: 0.76% flat versus 1.08% for PALU, and PALU's number is net of a waiver through September 1, 2027 (1.48% gross).direxion.com
  • That 0.76% also sits below the typical fee in the single-stock leveraged category, where costs usually run higher.
  • Hits its 200% daily target closely, one of the tighter implementations among hundreds of single-stock leveraged funds.
  • Leverage arrives inside a standard 1940 Act ETF: no margin agreement, no borrowing, no overnight position to roll yourself.leverageshares.com

Worth knowing

  • AALG The 2x target applies to a single trading day. Hold longer and compounding takes over, so returns can differ from 2x AAL, and higher volatility widens the gap.sec.gov
  • A small, thinly traded fund, so spreads tend to run wider than on the headline leveraged names.
  • One stock, doubled: an AAL earnings miss or fuel spike lands twice as hard, and the swap counterparties add a layer beyond the airline itself.sec.gov
  • PANG Daily reset, not a 2x hold. Over weeks the returns compound, and a choppy stretch in PANW can leave the result far from double the move.leverageshares.com
  • One stock, twice the swing. An earnings miss or a cyber headline lands here with double the force, up or down.leverageshares.com
  • Smaller and more lightly traded than the giants of the category, so spreads can widen; limit orders earn their keep.

Full AALG profile⁠

Full PANG profile⁠

AALG vs PANG Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

AALG vs PANG Cost

Overpaying AALG vs PANG

$346

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • AALG 0.78%

    $15,002

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • AALG 0.78%
  • PANG 0.76%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530AALG $15,002PANG $14,656

Year by year

YearAALGPANGOverpaying
10$1,388$1,353$35
20$5,268$5,142$126
30$15,002$14,656$346

Expense ratio

  • 0.78%AALG
  • 0.76%PANG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

PANG 131st cheapest of 315 funds

AALG 142nd cheapest of 315 funds

AALG vs PANG Dividends

Last 12 months to Oct 30, 2026
Last payment
AALG $0.28
PANG $1.30
Ex-dividend
AALG Dec 30, 2025
PANG Dec 30, 2025
Paid on
AALG Jan 2, 2026
PANG Jan 2, 2026
Frequency
AALG Irregular
PANG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

AALGIrregular · 1 paymentAll AALG payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $0.28. Use the arrow keys to read each point.$0$12026YTD
PANGIrregular · 1 paymentAll PANG payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $1.30. Use the arrow keys to read each point.$0$12026YTD

AALG vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
AALG 102.5%since Aug 2025PANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
AALG 0.24since Aug 2025PANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
AALG −64.2%since Jul 2025PANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
AALG 2.54PANG 3.32

Popular comparisons

  • AALGCvsTSMGA

    Leverage Shares 2x Long AAL Daily ETF · Leverage Shares 2x Long TSM Daily ETF

    Expense ratio
    0.78% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • PANGAvsTSMGA

    Leverage Shares 2x Long PANW Daily ETF · Leverage Shares 2x Long TSM Daily ETF

    Expense ratio
    0.76% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • AALGCvsUNHGA

    Leverage Shares 2x Long AAL Daily ETF · Leverage Shares 2x Long UNH Daily ETF

    Expense ratio
    0.78% · 0.77%
    Category
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  • PANGAvsUNHGA

    Leverage Shares 2x Long PANW Daily ETF · Leverage Shares 2x Long UNH Daily ETF

    Expense ratio
    0.76% · 0.77%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • AALGCvsOKTGA

    Leverage Shares 2x Long AAL Daily ETF · Leverage Shares 2x Long OKTA Daily ETF

    Expense ratio
    0.78% · 0.75%
    Category
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  • PANGAvsOKTGA

    Leverage Shares 2x Long PANW Daily ETF · Leverage Shares 2x Long OKTA Daily ETF

    Expense ratio
    0.76% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.