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ARMG vs PANG

Leverage Shares 2x Long ARM Daily ETF

ARMGBNasdaq

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

8.4%by weight

Expense ratio

PANG −0.02pt a year

ARMG0.78%PANG0.76%

Avg volume · 30D

ARMG 23.0×the volume

ARMG1.03MPANG44.6K

ARMG vs PANG Performance

Oct 31, 2025 – Oct 30, 2026

−30.9%ARMG+91.6%PANG

Oct 31, 2025 to Oct 30, 2026. ARMG −30.9%. PANG +91.6%. Use the arrow keys to read each point.200%300%Oct 2025Apr 2026Oct 2026
Expense ratio
ARMG 0.78%
PANG 0.76%, better
Fund size
ARMG $51M
PANG $9M
1Y total return
ARMG −30.9%
PANG +91.6%, better
Holdings
ARMG 5
PANG 4
Avg volume (30D)
ARMG 1.03M sh, better
PANG 44.6K sh
NAV per share
ARMG $9.96
PANG $31.31
52W range

ETF.net Grade

ARMG: Cost 60, Risk 52, Mission 100, Tradability 89, Holdings not scored, Durability 69. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for ARMG, PANG, with each pillar’s weight
PillarARMGPANG
Cost30% weightB60A70Higher
Mission25% weightA100HigherA94
Risk15% weightC52A74Higher
Tradability15% weightA89HigherA74
Holdings10% weightNot scoredNot scored
Durability5% weightB69HigherB59

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. ARMG 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 ARMG 18th 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 15BSNDGLeverage Shares 2X Long SNDK Daily ETFScore 66
  7. Rank 18BARMGLeverage Shares 2x Long ARM Daily ETFScore 65
  8. Rank 18BBEGLeverage Shares 2x Long BE Daily ETFScore 65

Our read on each fund

ETF.net Research

ARMGBLeverage Shares 2x Long ARM Daily ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

ARMG Arm Holdings, doubled by the day. ARMG aims for 200% of ARM's daily move, resets every night, and charges 0.78% a year, below the typical fee in the single-stock leveraged crowd.

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

ARMG The fund seeks daily investment results equal to 200% of the daily performance of Arm Holdings plc stock, 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

  • ARMG Fee is 0.78% with no waiver holding it down, so the number shouldn't move. That undercuts the rival 2x ARM fund (ARMW, 1.00%) and sits below the category's typical charge.
  • It has tracked its stated 2x daily objective tightly, one of the stronger implementations in a category stuffed with hundreds of single-stock leveraged funds.
  • The leverage lives inside the fund: no margin account, no margin calls, and losses stop at the amount invested, per the issuer's fund summary.leverageshares.com
  • Actively traded on Nasdaq since its January 2025 launch, which matters for a product built to be bought and sold inside a single session.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

  • ARMG The 2x target applies to one trading day. Hold longer and each day's return compounds: a choppy ARM that ends where it started can still leave the fund behind.sec.gov
  • The math cuts both ways at speed. Per the issuer, an ARM drop of more than 50% in one session would wipe out the full value of an investment.leverageshares.com
  • Everything rides on one chip-design company. The fund is non-diversified, so an ARM earnings gap or licensing headline lands here at double size.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 ARMG profile⁠

Full PANG profile⁠

ARMG vs PANG Holdings

How ARMG and PANG differ

Overlap by weight

8.4%

Shared holdings make up 15.4% of ARMG and 8.4% of PANG.

Level by level

  • Holdings1 in both8.4%
  • Asset classEquity100%
  • Countryby domicile100%

Sector

No Sector split for ARMG and PANG.

Country, concentration and asset class

Country by domicile

Country weights in ARMG and PANG, widest gap first
CountryMore in ARMGMore in PANG
United StatesSame weight

Concentration

Weight in the 10 largest Holdings

  • ARMG215.4%
  • PANG208.4%

Securities held

  • ARMG1
  • PANG1

Asset class

ARMG
Equity
PANG
Equity

Holdings

  • Only in ARMG0
  • In both1
  • Only in PANG0

Only in ARMG

0 securities, 0.0% of ARMG by weight

Only in PANG

0 securities, 0.0% of PANG by weight

Weight gaps

All 1 Holdings in both funds, largest gap first.

Holding weights in ARMG and PANG, widest gap first
HoldingMore in ARMGMore in PANG
First American Treasury Obligations Fund 01/01/2040ARMG +6.93 points

All 5 ARMG 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.

ARMG vs PANG Cost

Overpaying ARMG vs PANG

$346

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

  • ARMG 0.78%

    $15,002

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • ARMG 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$20K051015202530ARMG $15,002PANG $14,656

Year by year

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

Expense ratio

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

PANG 131st cheapest of 315 funds

ARMG 142nd cheapest of 315 funds

ARMG vs PANG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

ARMGIrregular · 1 paymentAll ARMG 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

ARMG vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ARMG 175.0%since Feb 2025PANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
ARMG 0.47since Feb 2025PANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
ARMG −84.1%since Jan 2025PANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
ARMG 6.89PANG 3.32

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