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BAIG vs PANG

Leverage Shares 2x Long BBAI Daily ETF

BAIGCNasdaq

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

5.5%by weight

Expense ratio

PANG −0.02pt a year

BAIG0.78%PANG0.76%

Avg volume · 30D

PANG 1.7×the volume

BAIG25.8KPANG44.6K

BAIG vs PANG Performance

Oct 31, 2025 – Oct 30, 2026

−94.2%BAIG+91.6%PANG

Oct 31, 2025 to Oct 30, 2026. BAIG −94.2%. PANG +91.6%. Use the arrow keys to read each point.−50%0%50%150%Oct 2025Apr 2026Oct 2026
Expense ratio
BAIG 0.78%
PANG 0.76%, better
Fund size
BAIG $5M
PANG $9M
1Y total return
BAIG −94.2%
PANG +91.6%, better
Holdings
BAIG 5
PANG 4
Avg volume (30D)
BAIG 25.8K sh
PANG 44.6K sh, better
NAV per share
BAIG $10.49
PANG $31.31
52W range

ETF.net Grade

BAIG: Cost 60, Risk 25, Mission 90, Tradability 40, Holdings not scored, Durability 52. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for BAIG, PANG, with each pillar’s weight
PillarBAIGPANG
Cost30% weightB60A70Higher
Mission25% weightA90A94Higher
Risk15% weightD25A74Higher
Tradability15% weightC40A74Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC52B59Higher

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. BAIG 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 BAIG 123rd 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 123CBABCCorgi BABA 2x Daily ETFScore 40
  7. Rank 123CBAIGLeverage Shares 2x Long BBAI Daily ETFScore 40
  8. Rank 123CBECCorgi BE 2x Daily ETFScore 40

Our read on each fund

ETF.net Research

BAIGCLeverage Shares 2x Long BBAI Daily ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

BAIG Most 2x single-stock ETFs point at megacaps. BAIG points at BigBear.ai, a small, jumpy defense-AI name, and aims for twice its daily move through swaps, reset every day, for 0.78% a year with no waiver.

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

BAIG The Fund seeks daily leveraged investment results equal to two times the daily percentage change in BBAI's common-stock price, before fees and expenses. It does not pursue this objective for periods different from one trading day.

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

  • BAIG Swap agreements with major financial institutions do the work: exposure is sized for 200% of BigBear.ai's daily move, no margin account or options chain required.leverageshares.com
  • At 0.78% with no fee waiver, it sits below the category median and only a hair above the cheapest in its own lineup (OKTG at 0.75%, TSMG at 0.76%).
  • Day to day, it has stayed close to its stated 2x target, which is the entire job of a daily-reset 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

  • BAIG The 2x target resets every trading day. Held through a choppy stretch, results can trail twice BBAI's move, which the prospectus states plainly.leverageshares.com
  • One of the smaller, more lightly traded names in a crowded 2x category, so bid-ask spreads carry more weight here than in the megacap-linked versions.
  • The trust reserves the right to use splits or reverse splits to keep shares in a convenient trading range, changing your share count but not the fund's net assets.leverageshares.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 BAIG profile⁠

Full PANG profile⁠

BAIG vs PANG Holdings

How BAIG and PANG differ

Overlap by weight

5.5%

Shared holdings make up 8.4% of PANG and 5.5% of BAIG.

Level by level

  • Holdings1 in both5.5%
  • Asset classEquity100%
  • Countryby domicile100%

Sector

No Sector split for BAIG and PANG.

Country, concentration and asset class

Country by domicile

Country weights in BAIG and PANG, widest gap first
CountryMore in BAIGMore in PANG
United StatesSame weight

Concentration

Weight in the 10 largest Holdings

  • BAIG205.5%
  • PANG208.4%

Securities held

  • BAIG1
  • PANG1

Asset class

BAIG
Equity
PANG
Equity

Holdings

  • Only in BAIG0
  • In both1
  • Only in PANG0

Only in BAIG

0 securities, 0.0% of BAIG 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 BAIG and PANG, widest gap first
HoldingMore in BAIGMore in PANG
First American Treasury Obligations Fund 01/01/2040PANG +2.93 points

All 5 BAIG 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.

BAIG vs PANG Cost

Overpaying BAIG vs PANG

$346

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

  • BAIG 0.78%

    $15,002

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • BAIG 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$20K051015202530BAIG $15,002PANG $14,656

Year by year

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

Expense ratio

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

PANG 131st cheapest of 315 funds

BAIG 142nd cheapest of 315 funds

BAIG vs PANG Dividends

Last 12 months to Oct 30, 2026
Last payment
BAIG $4.75
PANG $1.30
Ex-dividend
BAIG Dec 30, 2025
PANG Dec 30, 2025
Paid on
BAIG Jan 2, 2026
PANG Jan 2, 2026
Frequency
BAIG Irregular
PANG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

BAIGIrregular · 1 paymentAll BAIG payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $4.75. Use the arrow keys to read each point.$0$52026YTD
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$52026YTD

BAIG vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BAIG 119.2%since Sep 2025PANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
BAIG −1.05since Sep 2025PANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
BAIG −97.7%since Aug 2025PANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
BAIG 6.83PANG 3.32

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