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ADBG vs PANG

Leverage Shares 2x Long ADBE Daily ETF

ADBGBNasdaq

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

Expense ratio

PANG −0.01pt a year

ADBG0.77%PANG0.76%

Avg volume · 30D

ADBG 94.6×the volume

ADBG4.22MPANG44.6K

ADBG vs PANG Performance

Oct 31, 2025 – Oct 30, 2026

−60.3%ADBG+91.6%PANG

Oct 31, 2025 to Oct 30, 2026. ADBG −60.3%. PANG +91.6%. Use the arrow keys to read each point.0%50%150%Oct 2025Apr 2026Oct 2026
Expense ratio
ADBG 0.77%
PANG 0.76%, better
Fund size
ADBG $23M
PANG $9M
1Y total return
ADBG −60.3%
PANG +91.6%, better
Holdings
ADBG 5
PANG 4
Avg volume (30D)
ADBG 4.22M sh, better
PANG 44.6K sh
NAV per share
ADBG $3.95
PANG $31.31
52W range

ETF.net Grade

ADBG: Cost 60, Risk 53, Mission 96, Tradability 85, Holdings not scored, Durability 64. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for ADBG, PANG, with each pillar’s weight
PillarADBGPANG
Cost30% weightB60A70Higher
Mission25% weightA96HigherA94
Risk15% weightC53A74Higher
Tradability15% weightA85HigherA74
Holdings10% weightNot scoredNot scored
Durability5% weightB64HigherB59

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. ADBG 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 ADBG 23rd 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 18BTERGLeverage Shares 2X Long TER Daily ETFScore 65
  7. Rank 23BADBGLeverage Shares 2x Long ADBE Daily ETFScore 64
  8. Rank 23BPYPGLeverage Shares 2x Long PYPL Daily ETFScore 64

Our read on each fund

ETF.net Research

ADBGBLeverage Shares 2x Long ADBE Daily ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

ADBG Two times Adobe's daily move, wrapped in something you can trade like a stock. Live since March 2025, a year ahead of the rival 2x ADBE fund, swap-backed, reset every day, 0.77% with no waiver.

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

ADBG The fund seeks daily investment results, before fees and expenses, corresponding to 200% (2x) of the daily performance of Adobe 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

  • ADBG 0.77% flat, no waiver, and below the median for the 365 leveraged single-stock funds we price. The cheap end of a shelf that rarely competes on fee.
  • Day to day, it has stayed close to its 200% target. For a daily-reset fund, that is the entire job.leverageshares.com
  • Actively traded, and one of the stronger implementations in a leveraged single-stock field of roughly 380 funds.
  • Exposure comes from swap agreements with major banks inside a 1940 Act ETF, so no margin account or borrowing on your end.leverageshares.com
  • 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

  • ADBG The 2x target resets daily. Leverage Shares notes the fund can lose value over time even if Adobe ends up flat, especially in choppy markets.leverageshares.com
  • One stock, doubled. Nothing in the portfolio softens an Adobe earnings gap or a rough guidance day.
  • Returns ride on swaps rather than owned Adobe shares, which puts the bank on the other side of the trade on your risk list.leverageshares.com
  • 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 ADBG profile⁠

Full PANG profile⁠

ADBG 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.

ADBG vs PANG Cost

Overpaying ADBG vs PANG

$173

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

  • ADBG 0.77%

    $14,829

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • ADBG 0.77%
  • 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$15K051015202530ADBG $14,829PANG $14,656

Year by year

YearADBGPANGOverpaying
10$1,371$1,353$18
20$5,205$5,142$63
30$14,829$14,656$173

Expense ratio

  • 0.77%ADBG
  • 0.76%PANG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

PANG 131st cheapest of 315 funds

ADBG 135th cheapest of 315 funds

ADBG vs PANG Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
ADBG None
PANG No data
Last payment
ADBG No data
PANG $1.30
Ex-dividend
ADBG No data
PANG Dec 30, 2025
Paid on
ADBG No data
PANG Jan 2, 2026
Frequency
ADBG No data
PANG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

ADBGAll ADBG payments⁠

No distribution history available.

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

ADBG vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ADBG 76.7%since Apr 2025PANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
ADBG −0.71since Apr 2025PANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
ADBG −84.1%since Mar 2025PANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
ADBG 1.57PANG 3.32

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