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APPX vs PANG

Tradr 2X Long APP Daily ETF

APPXDNasdaq

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

Expense ratio

PANG −0.60pt a year

APPX1.36%PANG0.76%

Avg volume · 30D

APPX 27.7×the volume

APPX1.23MPANG44.6K

APPX vs PANG Performance

Oct 31, 2025 – Nov 2, 2026

−93.6%APPX+76.3%PANG

Oct 31, 2025 to Nov 2, 2026. APPX −93.6%. PANG +76.3%. Use the arrow keys to read each point.−50%0%150%Oct 2025May 2026Nov 2026
Expense ratio
APPX 1.36%
PANG 0.76%, better
Fund size
APPX $47M
PANG $9M
1Y total return
APPX −93.6%
PANG +76.3%, better
Holdings
APPX 1
PANG 4
Avg volume (30D)
APPX 1.23M sh, better
PANG 44.6K sh
NAV per share
APPX $6.46
PANG $31.31
52W range

ETF.net Grade

APPX: Cost 21, Risk 26, Mission 95, Tradability 80, Holdings 39, Durability 70. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for APPX, PANG, with each pillar’s weight
PillarAPPXPANG
Cost30% weightF21A70Higher
Mission25% weightA95HigherA94
Risk15% weightD26A74Higher
Tradability15% weightA80HigherA74
Holdings10% weightD39Not scored
Durability5% weightA70HigherB59

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. APPX 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 APPX 249th 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 123CXYZGLeverage Shares 2x Long XYZ Daily ETFScore 40
  7. Rank 249DAPPXTradr 2X Long APP Daily ETFScore 39
  8. Rank 249DHIMZDaily Target 2X Long HIMS ETFScore 39

Our read on each fund

ETF.net Research

APPXDTradr 2X Long APP Daily ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

APPX One stock, one day, double the move. APPX aims for 200% of AppLovin's daily return and has tracked that target closely. The trade-off: 1.36% a year, above what most rival 2x single-stock funds charge.

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

APPX Seeks daily, before-fee-and-expense results equal to 200% of the daily performance of AppLovin Corp. common shares.

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

  • APPX Does exactly one thing: targets 200% of AppLovin's daily move before fees, and day to day it has landed close to that mark.tradretfs.com
  • Volume and spreads put it among the easier names to get in and out of in a crowded field of roughly 380 leveraged single-stock funds.
  • Against that same peer group the overall build lands in the upper half: solid on the mechanics, with price the main thing holding it back.
  • 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

  • APPX At 1.36% with no fee waiver, it is pricier than 2x peers like TSMG at 0.76% and OKTG at 0.75%, also unwaived. Financing costs for the leverage sit on top of that.
  • Leverage resets daily. Hold longer than a day and compounding takes over, so multi-day results can diverge from 2x the stock's move over the same stretch.tradretfs.com
  • One ticker, doubled, trading since April 2025. No diversification cushion, and only a short history to judge the fund by.nasdaq.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 APPX profile⁠

Full PANG profile⁠

APPX 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.

APPX vs PANG Cost

Overpaying APPX vs PANG

$9,604

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

  • APPX 1.36%

    $24,260

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • APPX 1.36%
  • 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$25K051015202530APPX $24,260PANG $14,656

Year by year

YearAPPXPANGOverpaying
10$2,362$1,353$1,009
20$8,735$5,142$3,593
30$24,260$14,656$9,604

Expense ratio

  • 1.36%APPX
  • 0.76%PANG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

PANG 131st cheapest of 315 funds

APPX 254th cheapest of 315 funds

APPX vs PANG Dividends

Last 12 months to Nov 2, 2026
Last payment
APPX $9.98
PANG $1.30
Ex-dividend
APPX Dec 26, 2025
PANG Dec 30, 2025
Paid on
APPX Dec 30, 2025
PANG Jan 2, 2026
Frequency
APPX Irregular
PANG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

APPXIrregular · 1 paymentAll APPX payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 26, 2025 $9.98. Use the arrow keys to read each point.$0$102026YTD
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$102026YTD

APPX vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
APPX 180.3%since May 2025PANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
APPX 0.22since May 2025PANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
APPX −95.3%since Apr 2025PANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
APPX 7.24PANG 3.32

Popular comparisons

  • APPXDvsTSMGA

    Tradr 2X Long APP Daily ETF · Leverage Shares 2x Long TSM Daily ETF

    Expense ratio
    1.36% · 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.

  • APPXDvsUNHGA

    Tradr 2X Long APP Daily ETF · Leverage Shares 2x Long UNH Daily ETF

    Expense ratio
    1.36% · 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.

  • APPXDvsOKTGA

    Tradr 2X Long APP Daily ETF · Leverage Shares 2x Long OKTA Daily ETF

    Expense ratio
    1.36% · 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.