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CBRG vs PANG

Leverage Shares 2X Long CBRS Daily ETF

CBRGBCboe

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

Expense ratio

CBRG −0.01pt a year

CBRG0.75%PANG0.76%

Avg volume · 30D

CBRG 320.2×the volume

CBRG14.3MPANG44.6K

CBRG vs PANG Performance

Jul 31, 2026 – Oct 30, 2026

−77.1%CBRG+7.0%PANG

Jul 31, 2026 to Oct 30, 2026. CBRG −77.1%. PANG +7.0%. Use the arrow keys to read each point.−50%−25%25%50%75%Jul 2026Sep 2026Oct 2026
Expense ratio
CBRG 0.75%, better
PANG 0.76%
Fund size
CBRG $57M
PANG $9M
1Y total return
CBRG No data
PANG +91.6%
Holdings
CBRG 5
PANG 4
Avg volume (30D)
CBRG 14.3M sh, better
PANG 44.6K sh
NAV per share
CBRG $0.9300
PANG $31.31
52W range

ETF.net Grade

CBRG: Cost 70, Risk 12, Mission not scored, Tradability 78, Holdings not scored, Durability 58. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for CBRG, PANG, with each pillar’s weight
PillarCBRGPANG
Cost30% weightA70A70
Mission25% weightNot scoredA94
Risk15% weightF12A74Higher
Tradability15% weightA78HigherA74
Holdings10% weightNot scoredNot scored
Durability5% weightB58B59Higher

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. CBRG 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 CBRG 58th 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 54BMRVUDirexion Daily MRVL Bull 2X ETFScore 58
  7. Rank 58BCBRGLeverage Shares 2X Long CBRS Daily ETFScore 57
  8. Rank 58BELILDirexion Daily LLY Bull 2X ETFScore 57

Our read on each fund

ETF.net Research

CBRGBLeverage Shares 2X Long CBRS Daily ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

CBRG Cerebras barely finished its IPO before this arrived: 2x daily exposure to the wafer-scale AI chipmaker, in an ETF wrapper rather than a margin account, at 0.75% while the typical single-stock leveraged fund runs near 1.15%.

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

CBRG The fund seeks daily investment results equal to 200% of the daily performance of Cerebras Systems common 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

  • CBRG At 0.75%, it undercuts the roughly 1.15% median fee in its single-stock leveraged cohort and matches the cheapest Leverage Shares siblings, like the 2x UNH fund (UNHG).
  • The mechanism is plain: 200% of Cerebras's daily move before fees, in a 1940 Act ETF you buy like any share. No margin account to open, no borrow to arrange.leverageshares.comcboe.com
  • Pure play, not a basket. The exposure rides one company's wafer-scale AI compute story instead of getting diluted across two dozen other chip names.leverageshares.comcerebras.ai
  • For a fund this new, it already changes hands actively, which tends to keep entry and exit spreads reasonable.
  • 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

  • CBRG Daily reset compounds. Hold past one day and results can drift from 2x the stock's move; the fund's own factsheet warns it can lose money even if Cerebras is flat.leverageshares.com
  • Double exposure to one young chip stock cuts both ways, and the listing materials frame these as short-term tools for active traders.cboe.com
  • History is thin: the fund launched in 2026, right after the Cerebras IPO, so there is little data on how it acts across a full cycle.leverageshares.combenzinga.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 CBRG profile⁠

Full PANG profile⁠

CBRG 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.

CBRG vs PANG Cost

Overpaying PANG vs CBRG

$174

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

  • CBRG 0.75%

    $14,482

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • CBRG 0.75%
  • 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$15K051015202530PANG $14,656CBRG $14,482

Year by year

YearCBRGPANGOverpaying
10$1,336$1,353$17
20$5,078$5,142$64
30$14,482$14,656$174

Expense ratio

  • 0.75%CBRG, cheaper
  • 0.76%PANG
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

CBRG 87th cheapest of 315 funds

PANG 131st cheapest of 315 funds

CBRG vs PANG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

CBRGAll CBRG 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

CBRG vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
CBRG No dataPANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
CBRG No dataPANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
CBRG No dataPANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
CBRG 1.75PANG 3.32

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