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AAPX vs PANG

T-REX 2X Long Apple Daily Target ETF

AAPXBCboe

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

0.0%by weight

Expense ratio

PANG −0.29pt a year

AAPX1.05%PANG0.76%

Avg volume · 30D

AAPX 1.2×the volume

AAPX54.9KPANG44.6K

AAPX vs PANG Performance

Oct 31, 2025 – Nov 2, 2026

+31.3%AAPX+76.3%PANG

Oct 31, 2025 to Nov 2, 2026. AAPX +31.3%. PANG +76.3%. Use the arrow keys to read each point.−50%0%150%Oct 2025May 2026Nov 2026
Expense ratio
AAPX 1.05%
PANG 0.76%, better
Fund size
AAPX $8M
PANG $9M
1Y total return
AAPX +31.3%
PANG +76.3%, better
Yield (12M)
AAPX 0.50%
PANG No data
Holdings
AAPX 2
PANG 4
Avg volume (30D)
AAPX 54.9K sh, better
PANG 44.6K sh
NAV per share
AAPX $42.31
PANG $31.31
52W range

ETF.net Grade

AAPX: Cost 42, Risk 79, Mission 90, Tradability 55, Holdings not scored, Durability 66. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for AAPX, PANG, with each pillar’s weight
PillarAAPXPANG
Cost30% weightC42A70Higher
Mission25% weightA90A94Higher
Risk15% weightA79HigherA74
Tradability15% weightB55A74Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB66HigherB59

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. AAPX 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 AAPX 69th 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 62BUSGGLeverage Shares 2X Long USAR Daily ETFScore 56
  7. Rank 69BAAPXT-REX 2X Long Apple Daily Target ETFScore 55
  8. Rank 69BCSCLDirexion Daily CSCO Bull 2X ETFScore 55

Our read on each fund

ETF.net Research

AAPXBT-REX 2X Long Apple Daily Target ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

AAPX One of only two US ETFs built to double Apple's daily move, and the challenger rather than the incumbent. This is a one-day instrument: 200% of AAPL before fees, reset at every close.

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

AAPX The Fund seeks daily investment results, before fees and expenses, equal to 200% of Apple common-stock performance. Its objective applies for a single trading day rather than longer holding periods.

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

  • AAPX Does one job and states it plainly: 200% of Apple's daily stock move before fees and expenses. It has stayed close to that daily target since launching in January 2024.
  • Standing is strong: one of the better-executed products in a crowded field of leveraged single-stock bull funds.
  • Registered under the 1940 Act, so amplified Apple exposure arrives in a standard ETF wrapper with no margin account or options approval on your end.
  • 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

  • AAPX The daily reset compounds. Hold past a single session and the result can diverge from twice Apple's move over that stretch, in either direction.
  • One company, doubled. Apple news lands with twice the force, and there is nothing else in the portfolio to soften it.
  • Fees run 1.05% a year against 0.96% at AAPU, the other 2x Apple fund. It is also a smaller, moderately traded fund, so limit orders earn their keep.
  • 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 AAPX profile⁠

Full PANG profile⁠

AAPX vs PANG Holdings

How AAPX and PANG differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of AAPX and 0.0% of PANG.

Level by level

  • Holdings0 in both0.0%
  • Asset classEquity100%
  • Countryby domicile100%

Sector

No Sector split for PANG.

Country, concentration and asset class

Country by domicile

Country weights in AAPX and PANG, widest gap first
CountryMore in AAPXMore in PANG
United StatesSame weight

Concentration

Weight in the 10 largest Holdings

  • AAPX546.9%
  • PANG210.1%

Securities held

  • AAPX1
  • PANG1

Asset class

AAPX
Equity
PANG
Equity

Holdings

  • Only in AAPX1
  • In both0
  • Only in PANG1

Only in AAPX

1 security, 100% of AAPX by weight

  • Recv Aapx Trs Aapl Eq466.64%

Only in PANG

1 security, 10.0% of PANG by weight

  • First American Treasury Obligations Fund 01/01/204010.04%

Weight gaps

AAPX and PANG share no securities.

All 5 AAPX holdings⁠All 4 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.

AAPX vs PANG Cost

Overpaying AAPX vs PANG

$4,839

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

  • AAPX 1.05%

    $19,495

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • AAPX 1.05%
  • 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$20K051015202530AAPX $19,495PANG $14,656

Year by year

YearAAPXPANGOverpaying
10$1,847$1,353$494
20$6,927$5,142$1,785
30$19,495$14,656$4,839

Expense ratio

  • 1.05%AAPX
  • 0.76%PANG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

PANG 131st cheapest of 315 funds

AAPX 201st cheapest of 315 funds

AAPX vs PANG Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
AAPX 0.50%
PANG No data
Payout (12M)
AAPX $0.20
PANG No data
Last payment
AAPX $0.20
PANG $1.30
Ex-dividend
AAPX Dec 24, 2025
PANG Dec 30, 2025
Paid on
AAPX Dec 26, 2025
PANG Jan 2, 2026
Frequency
AAPX Annual
PANG Irregular

Distribution history

Per share, 2024 to 2026, same scale for both

AAPXAnnual · 2 paymentsAll AAPX payments⁠
One bar per payment. 2 payments from 2024 to 2026 YTD. Dec 24, 2024 $6.93; Dec 24, 2025 $0.20. Use the arrow keys to read each point.$0$52026YTD
PANGIrregular · 1 paymentAll PANG payments⁠
One bar per payment. 1 payment from 2024 to 2026 YTD. Dec 30, 2025 $1.30. Use the arrow keys to read each point.$0$52026YTD

AAPX vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
AAPX 42.8%since Feb 2024PANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
AAPX 0.73since Feb 2024PANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
AAPX −58.5%since Jan 2024PANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
AAPX 1.72PANG 3.32

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