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DUOG vs PANG

Leverage Shares 2x Long DUOL Daily ETF

DUOGCNasdaq

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

7.7%by weight

Expense ratio

DUOG −0.01pt a year

DUOG0.75%PANG0.76%

Avg volume · 30D

PANG 6.6×the volume

DUOG6.72KPANG44.6K

DUOG vs PANG Performance

Dec 31, 2025 – Oct 30, 2026

−63.5%DUOG+183.4%PANG

Dec 31, 2025 to Oct 30, 2026. DUOG −63.5%. PANG +183.4%. Use the arrow keys to read each point.0%100%300%Dec 2025Jun 2026Oct 2026
Expense ratio
DUOG 0.75%, better
PANG 0.76%
Fund size
DUOG $2M
PANG $9M
1Y total return
DUOG No data
PANG +91.6%
Holdings
DUOG 5
PANG 4
Avg volume (30D)
DUOG 6.72K sh
PANG 44.6K sh, better
NAV per share
DUOG $42.67
PANG $31.31
52W range

ETF.net Grade

DUOG: Cost 70, Risk 42, Mission 85, Tradability 63, Holdings not scored, Durability 44. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for DUOG, PANG, with each pillar’s weight
PillarDUOGPANG
Cost30% weightA70A70
Mission25% weightA85A94Higher
Risk15% weightC42A74Higher
Tradability15% weightB63A74Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC44B59Higher

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. DUOG 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 DUOG 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 123CCRWXCorgi CRWV 2x Daily ETFScore 40
  7. Rank 123CDUOGLeverage Shares 2x Long DUOL Daily ETFScore 40
  8. Rank 123CENTLLeverage Shares 2x Long ENTG Daily ETFScore 40

Our read on each fund

ETF.net Research

DUOGCLeverage Shares 2x Long DUOL Daily ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

DUOG One ticker, double the daily move in Duolingo. DUOG aims for 2x DUOL's daily performance before fees, at 0.75% a year, and it resets that target every day, which makes it a short-horizon tool rather than a hold-forever one.

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

DUOG The fund seeks two times the daily performance of Duolingo, Inc. common stock, before fees and expenses, through daily leveraged exposure.

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

  • DUOG Fee lane matters in this corner of the market: 0.75% a year, under the 0.96% Direxion charges on 2x single-stock funds like AAPU and GGLL.leverageshares.com
  • The mandate is one line: two times DUOL's daily performance before fees and expenses. Nothing discretionary, and daily results have tracked close to that stated target.leverageshares.com
  • Geared Duolingo exposure without a margin account or an options ticket: one ETF ticker inside a registered 1940 Act fund wrapper.
  • Stands in the top quartile of bull-side single-stock leveraged funds on our review, driven by its low fee and a clean read on its stated mandate.
  • 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

  • DUOG The 2x target applies to a single day. Ride out a choppy stretch in DUOL and the multi-day result can land well away from twice the stock's move.
  • Everything rides on one stock. A single earnings gap or guidance stumble at Duolingo lands here at roughly double force.
  • Launched in December 2025, small and lightly traded, so spreads can run wider than on the giant leveraged single-stock names. It has not been paying distributions.
  • 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 DUOG profile⁠

Full PANG profile⁠

DUOG vs PANG Holdings

How DUOG and PANG differ

Overlap by weight

7.7%

Shared holdings make up 8.4% of PANG and 7.7% of DUOG.

Level by level

  • Holdings1 in both7.7%
  • Asset classEquity100%
  • Countryby domicile100%

Sector

No Sector split for DUOG and PANG.

Country, concentration and asset class

Country by domicile

Country weights in DUOG and PANG, widest gap first
CountryMore in DUOGMore in PANG
United StatesSame weight

Concentration

Weight in the 10 largest Holdings

  • DUOG207.7%
  • PANG208.4%

Securities held

  • DUOG1
  • PANG1

Asset class

DUOG
Equity
PANG
Equity

Holdings

  • Only in DUOG0
  • In both1
  • Only in PANG0

Only in DUOG

0 securities, 0.0% of DUOG 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 DUOG and PANG, widest gap first
HoldingMore in DUOGMore in PANG
First American Treasury Obligations Fund 01/01/2040PANG +0.73 points

All 5 DUOG 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.

DUOG vs PANG Cost

Overpaying PANG vs DUOG

$174

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

  • DUOG 0.75%

    $14,482

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • DUOG 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 $14,656DUOG $14,482

Year by year

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

Expense ratio

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

DUOG 87th cheapest of 315 funds

PANG 131st cheapest of 315 funds

DUOG vs PANG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

DUOGAll DUOG 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

DUOG vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
DUOG No dataPANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
DUOG No dataPANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
DUOG No dataPANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
DUOG 2.11PANG 3.32

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