Skip to content
etf.net

AMA vs PANG

Defiance Daily Target 2X Long AMAT ETF

AMACNasdaq

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

Expense ratio

PANG −0.55pt a year

AMA1.31%PANG0.76%

Avg volume · 30D

AMA 6.5×the volume

AMA291KPANG44.6K

AMA vs PANG Performance

Jul 31, 2026 – Nov 2, 2026

−51.7%AMA−1.5%PANG

Jul 31, 2026 to Nov 2, 2026. AMA −51.7%. PANG −1.5%. Use the arrow keys to read each point.−40%−20%20%40%Jul 2026Sep 2026Nov 2026
Expense ratio
AMA 1.31%
PANG 0.76%, better
Fund size
AMA $18M
PANG $9M
1Y total return
AMA No data
PANG +76.3%
Holdings
AMA 7
PANG 4
Avg volume (30D)
AMA 291K sh, better
PANG 44.6K sh
NAV per share
AMA $14.08
PANG $31.31
52W range

ETF.net Grade

AMA: Cost 25, Risk 58, Mission 82, Tradability 67, Holdings not scored, Durability 61. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for AMA, PANG, with each pillar’s weight
PillarAMAPANG
Cost30% weightD25A70Higher
Mission25% weightA82A94Higher
Risk15% weightB58A74Higher
Tradability15% weightB67A74Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB61HigherB59

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. AMA 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 AMA 102nd 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 97CROBNT-Rex 2X Long HOOD Daily Target ETFScore 46
  7. Rank 102CAMADefiance Daily Target 2X Long AMAT ETFScore 45
  8. Rank 102CAXTLLeverage Shares 2X Long AXTI Daily ETFScore 45

Our read on each fund

ETF.net Research

AMACDefiance Daily Target 2X Long AMAT ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

AMA The first ETF to bolt 2x daily leverage onto Applied Materials, the company whose machines help make the chips. One stock, double the daily move, reset every night, at a 1.31% expense ratio.

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

AMA The Fund seeks daily investment results equal to two times the daily percentage change in Applied Materials, Inc.'s share price, before fees and expenses.

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

  • AMA First ETF built to give 2x daily exposure to Applied Materials, the equipment maker whose tools sit upstream of nearly every chip. Launched in 2026.defianceetfs.cometfgi.com
  • The mandate is literal: two times AMAT's daily percentage change, before fees and expenses. No index to drift from, no stock picking, one name and one multiple.defianceetfs.com
  • Holds to that mandate closely enough to sit in the upper half of a crowded single-stock leveraged field, and it changes hands at moderate volume.
  • 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

  • AMA Leverage resets daily. Hold longer and results compound off each day's move, which can diverge sharply from twice AMAT's return over the same stretch.
  • The 1.31% expense ratio sits above the category median; 2x peers such as TSMG (0.76%) and OKTG (0.75%) charge less, though neither tracks Applied Materials.
  • One stock, doubled: AMAT earnings nights and turns in the chip-equipment cycle land here with twice the force. It is also still a young, small fund.
  • 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 AMA profile⁠

Full PANG profile⁠

AMA 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.

AMA vs PANG Cost

Overpaying AMA vs PANG

$8,863

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

  • AMA 1.31%

    $23,519

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • AMA 1.31%
  • 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$20K$25K051015202530AMA $23,519PANG $14,656

Year by year

YearAMAPANGOverpaying
10$2,280$1,353$927
20$8,450$5,142$3,308
30$23,519$14,656$8,863

Expense ratio

  • 1.31%AMA
  • 0.76%PANG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

PANG 131st cheapest of 315 funds

AMA 236th cheapest of 315 funds

AMA vs PANG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

AMAAll AMA 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

AMA vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
AMA No dataPANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
AMA No dataPANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
AMA No dataPANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
AMA 7.18PANG 3.32

Popular comparisons

  • AMACvsTSMGA

    Defiance Daily Target 2X Long AMAT ETF · Leverage Shares 2x Long TSM Daily ETF

    Expense ratio
    1.31% · 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.

  • AMACvsUNHGA

    Defiance Daily Target 2X Long AMAT ETF · Leverage Shares 2x Long UNH Daily ETF

    Expense ratio
    1.31% · 0.77%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • 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.

  • AMACvsOKTGA

    Defiance Daily Target 2X Long AMAT ETF · Leverage Shares 2x Long OKTA Daily ETF

    Expense ratio
    1.31% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • 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.