Skip to content
etf.net

DLLL vs PANG

GraniteShares 2x Long DELL Daily ETF

DLLLCNasdaq

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

Expense ratio

PANG −0.76pt a year

DLLL1.52%PANG0.76%

Avg volume · 30D

DLLL 38.4×the volume

DLLL1.71MPANG44.6K

DLLL vs PANG Performance

Oct 31, 2025 – Oct 30, 2026

+279.2%DLLL+91.6%PANG

Oct 31, 2025 to Oct 30, 2026. DLLL +279.2%. PANG +91.6%. Use the arrow keys to read each point.0%400%600%Oct 2025Apr 2026Oct 2026
Expense ratio
DLLL 1.52%
PANG 0.76%, better
Fund size
DLLL $159M
PANG $9M
1Y total return
DLLL +279.2%, better
PANG +91.6%
Holdings
DLLL 2
PANG 4
Avg volume (30D)
DLLL 1.71M sh, better
PANG 44.6K sh
NAV per share
DLLL $24.24
PANG $31.31
52W range

ETF.net Grade

DLLL: Cost 4, Risk 75, Mission 95, Tradability 86, Holdings not scored, Durability 80. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for DLLL, PANG, with each pillar’s weight
PillarDLLLPANG
Cost30% weightF4A70Higher
Mission25% weightA95HigherA94
Risk15% weightA75HigherA74
Tradability15% weightA86HigherA74
Holdings10% weightNot scoredNot scored
Durability5% weightA80HigherB59

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. DLLL 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 DLLL 102nd 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 102CAXTLLeverage Shares 2X Long AXTI Daily ETFScore 45
  7. Rank 102CDLLLGraniteShares 2x Long DELL Daily ETFScore 45
  8. Rank 102CGEVXTradr 2X Long GEV Daily ETFScore 45

Our read on each fund

ETF.net Research

DLLLCGraniteShares 2x Long DELL Daily ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

DLLL Two times Dell's daily move in one ticker, no margin account or options chain required. The exposure resets every day, which makes it a short-clock trading tool rather than a set-and-forget holding.

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

DLLL The fund seeks daily investment results equal to 2 times the daily percentage change of Dell Technologies Inc.'s common stock. It is intended as a short-term trading vehicle and is not expected to deliver twice the cumulative return over periods longer than one 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

  • DLLL Does one thing and states it plainly: aims for 2x Dell's daily percentage change, and it has stayed close to that daily mark since its February 2025 launch.graniteshares.com
  • Actively traded, which matters for an instrument where your fill is most of the outcome.
  • Leverage in a wrapper you already use: a 1940 Act ETF bought in a normal brokerage account, no margin agreement, options approval, or roll schedule.graniteshares.com
  • Stands in the upper half of a very crowded field of 2x single-stock bull funds.
  • 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

  • DLLL Priced at the high end: 1.50% net of a waiver through December 31, 2026 (3.55% gross), above the category median. TSMG charges 0.76% and OKTG 0.75%, neither waived.
  • The daily reset compounds. Over any stretch longer than one day, results can drift from 2x Dell's move, and choppy stretches erode value. The prospectus says so.graniteshares.com
  • One stock, doubled. A single Dell earnings report moves the whole position at twice the speed, with no other holdings to cushion it.
  • 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 DLLL profile⁠

Full PANG profile⁠

DLLL 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.

DLLL vs PANG Cost

Overpaying DLLL vs PANG

$11,910

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

  • DLLL 1.52%

    $26,566

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • DLLL 1.52%
  • PANG 0.76%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530DLLL $26,566PANG $14,656

Year by year

YearDLLLPANGOverpaying
10$2,622$1,353$1,269
20$9,630$5,142$4,488
30$26,566$14,656$11,910

Expense ratio

  • 1.52%DLLL
  • 0.76%PANG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

PANG 131st cheapest of 315 funds

DLLL 300th cheapest of 315 funds

DLLL vs PANG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

DLLLAll DLLL 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

DLLL vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
DLLL 218.8%since Mar 2025PANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
DLLL 1.11since Mar 2025PANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
DLLL −68.6%since Feb 2025PANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
DLLL 7.68PANG 3.32

Popular comparisons

  • DLLLCvsTSMGA

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

    Expense ratio
    1.52% · 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.

  • DLLLCvsUNHGA

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

    Expense ratio
    1.52% · 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.

  • DLLLCvsOKTGA

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

    Expense ratio
    1.52% · 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.