Skip to content
etf.net

BABX vs PANG

GraniteShares 2x Long BABA Daily ETF

BABXCNasdaq

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

Expense ratio

PANG −0.33pt a year

BABX1.09%PANG0.76%

Avg volume · 30D

BABX 18.4×the volume

BABX821KPANG44.6K

BABX vs PANG Performance

Oct 31, 2025 – Nov 2, 2026

−71.7%BABX+76.3%PANG

Oct 31, 2025 to Nov 2, 2026. BABX −71.7%. PANG +76.3%. Use the arrow keys to read each point.0%50%150%Oct 2025May 2026Nov 2026
Expense ratio
BABX 1.09%
PANG 0.76%, better
Fund size
BABX $91M
PANG $9M
1Y total return
BABX −71.7%
PANG +76.3%, better
Holdings
BABX 2
PANG 4
Avg volume (30D)
BABX 821K sh, better
PANG 44.6K sh
NAV per share
BABX $13.27
PANG $31.31
52W range

ETF.net Grade

BABX: Cost 39, Risk 34, Mission 96, Tradability 89, Holdings not scored, Durability 82. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for BABX, PANG, with each pillar’s weight
PillarBABXPANG
Cost30% weightD39A70Higher
Mission25% weightA96HigherA94
Risk15% weightD34A74Higher
Tradability15% weightA89HigherA74
Holdings10% weightNot scoredNot scored
Durability5% weightA82HigherB59

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. BABX 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 BABX 78th 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 76CUUUGLeverage Shares 2x Long UUUU Daily ETFScore 53
  7. Rank 78CBABXGraniteShares 2x Long BABA Daily ETFScore 52
  8. Rank 78CBTCUDirexion Daily Bitcoin Bull 2X ETFScore 52

Our read on each fund

ETF.net Research

BABXCGraniteShares 2x Long BABA Daily ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

BABX The original 2x Alibaba ETF: live since 2022, years before its rivals. It aims for twice BABA's daily move, resets every night, and costs 1.15% net of a waiver through December 31, 2026.

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

BABX The Fund seeks daily investment results equal to twice the daily percentage change of Alibaba Group Holding Limited’s common stock. It is intended as a short-term leveraged trading vehicle rather than a long-term investment.

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

  • BABX Launched December 2022, it beat every rival 2x BABA fund to market by years, giving traders the longest-running option in this corner of the market.graniteshares.comkraneshares.comdirexion.com
  • Tracks its daily 2x target closely and trades actively with tight execution, one of the stronger builds in a crowded leveraged single-stock group.
  • Plain plumbing: swaps totaling 200% notional across counterparties, collateralized by T-bills and cash, rebalanced daily, with holdings published by the issuer.graniteshares.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

  • BABX Costs more than the two other 2x BABA funds: BABU at 0.97% net of a waiver through September 1, 2027 and KBAB at 0.99% net of a waiver through August 1, 2028.
  • The daily reset means returns over longer stretches can drift far from 2x BABA. GraniteShares calls it a short-term trading vehicle, not a buy-and-hold holding.graniteshares.com
  • The mandate was 1.75x before January 22, 2024, so the earliest stretch of its history reflects a different leverage level than today's.graniteshares.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 BABX profile⁠

Full PANG profile⁠

BABX 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.

BABX vs PANG Cost

Overpaying BABX vs PANG

$5,477

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

  • BABX 1.09%

    $20,133

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • BABX 1.09%
  • 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$25K051015202530BABX $20,133PANG $14,656

Year by year

YearBABXPANGOverpaying
10$1,915$1,353$562
20$7,166$5,142$2,024
30$20,133$14,656$5,477

Expense ratio

  • 1.09%BABX
  • 0.76%PANG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

PANG 131st cheapest of 315 funds

BABX 219th cheapest of 315 funds

BABX vs PANG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

BABXAll BABX 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

BABX vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BABX 95.3%PANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
BABX 0.25PANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
BABX −79.2%since Dec 2022PANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
BABX 1.02PANG 3.32

Popular comparisons

  • BABXCvsTSMGA

    GraniteShares 2x Long BABA Daily ETF · Leverage Shares 2x Long TSM Daily ETF

    Expense ratio
    1.09% · 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.

  • BABXCvsUNHGA

    GraniteShares 2x Long BABA Daily ETF · Leverage Shares 2x Long UNH Daily ETF

    Expense ratio
    1.09% · 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.

  • BABXCvsOKTGA

    GraniteShares 2x Long BABA Daily ETF · Leverage Shares 2x Long OKTA Daily ETF

    Expense ratio
    1.09% · 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.