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AVXX vs PANG

Defiance Daily Target 2X Long AVAV ETF

AVXXDNasdaq

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

Expense ratio

PANG −0.55pt a year

AVXX1.31%PANG0.76%

Avg volume · 30D

AVXX 3.2×the volume

AVXX144KPANG44.6K

AVXX vs PANG Performance

Oct 31, 2025 – Nov 2, 2026

−95.0%AVXX+76.3%PANG

Oct 31, 2025 to Nov 2, 2026. AVXX −95.0%. PANG +76.3%. Use the arrow keys to read each point.−50%0%150%Oct 2025May 2026Nov 2026
Expense ratio
AVXX 1.31%
PANG 0.76%, better
Fund size
AVXX $11M
PANG $9M
1Y total return
AVXX −95.0%
PANG +76.3%, better
Holdings
AVXX 8
PANG 4
Avg volume (30D)
AVXX 144K sh, better
PANG 44.6K sh
NAV per share
AVXX $15.98
PANG $31.31
52W range

ETF.net Grade

AVXX: Cost 25, Risk 24, Mission 84, Tradability 41, Holdings not scored, Durability 63. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for AVXX, PANG, with each pillar’s weight
PillarAVXXPANG
Cost30% weightD25A70Higher
Mission25% weightA84A94Higher
Risk15% weightF24A74Higher
Tradability15% weightC41A74Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB63HigherB59

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. AVXX 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 AVXX 272nd 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 271DAPHUT-REX 2X Long APH Daily Target ETFScore 32
  7. Rank 272DAVXXDefiance Daily Target 2X Long AVAV ETFScore 31
  8. Rank 272DPDDLGraniteShares 2x Long PDD Daily ETFScore 31

Our read on each fund

ETF.net Research

AVXXDDefiance Daily Target 2X Long AVAV ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

AVXX One ticker, one stock, double the daily move. AVXX targets 2x AeroVironment's (AVAV) daily percentage change and resets every session, so its math is built around single days, not long stretches.

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

AVXX The fund seeks amplified long exposure to AeroVironment Inc., with daily results targeted at two times the underlying stock's daily percentage change.

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

  • AVXX Clean packaging for a leveraged single-name trade: 2x daily exposure to AVAV through an ordinary brokerage order, with no margin account and no options chain to manage.defianceetfs.com
  • Delivery matches the label: day to day, the fund has tracked its stated 2x daily target closely.
  • Narrow by design. This is the concentrated version of the trade, amplified exposure to a single company rather than a diluted basket, and it changes hands actively for a young fund.
  • 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

  • AVXX The fee runs 1.31%, above what several established 2x single-stock funds charge (GGLL and AAPU at 0.96%, UNHG and ASMG at 0.75%).
  • Daily reset: hold longer than a session and results can drift well away from 2x AVAV's move over that stretch, especially in choppy markets.
  • Everything rides on one company's headlines, and the 2x multiple magnifies drawdowns as readily as gains. Launched in 2025, so the record is short.
  • 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 AVXX profile⁠

Full PANG profile⁠

AVXX 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.

AVXX vs PANG Cost

Overpaying AVXX vs PANG

$8,863

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

  • AVXX 1.31%

    $23,519

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • AVXX 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$25K051015202530AVXX $23,519PANG $14,656

Year by year

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

Expense ratio

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

PANG 131st cheapest of 315 funds

AVXX 236th cheapest of 315 funds

AVXX vs PANG Dividends

Last 12 months to Nov 2, 2026
Last payment
AVXX $0.43
PANG $1.30
Ex-dividend
AVXX Dec 30, 2025
PANG Dec 30, 2025
Paid on
AVXX Dec 31, 2025
PANG Jan 2, 2026
Frequency
AVXX Irregular
PANG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

AVXXIrregular · 1 paymentAll AVXX payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $0.43. 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

AVXX vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
AVXX 78.3%since Nov 2025PANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
AVXX −2.93since Nov 2025PANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
AVXX −95.6%since Oct 2025PANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
AVXX 4.27PANG 3.32

Popular comparisons

  • AVXXDvsTSMGA

    Defiance Daily Target 2X Long AVAV 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.

  • AVXXDvsUNHGA

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

    Expense ratio
    1.31% · 0.77%
    Category
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  • 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.

  • AVXXDvsOKTGA

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    Expense ratio
    1.31% · 0.75%
    Category
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  • 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.