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GRAG vs PANG

Leverage Shares 2x Long GRAB Daily ETF

GRAGCNasdaq

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

Expense ratio

GRAG −0.01pt a year

GRAG0.75%PANG0.76%

Avg volume · 30D

GRAG 1.1×the volume

GRAG48.8KPANG43.3K

GRAG vs PANG Performance

Dec 31, 2025 – Nov 5, 2026

−62.1%GRAG+105.0%PANG

Dec 31, 2025 to Nov 5, 2026. GRAG −62.1%. PANG +105.0%. Use the arrow keys to read each point.0%200%300%Dec 2025Jun 2026Nov 2026
Expense ratio
GRAG 0.75%, better
PANG 0.76%
Fund size
GRAG $3M
PANG $8M
1Y total return
GRAG No data
PANG +48.4%
Holdings
GRAG 4
PANG 4
Avg volume (30D)
GRAG 48.8K sh, better
PANG 43.3K sh
NAV per share
GRAG $4.87
PANG $28.25
52W range

ETF.net Grade

GRAG: Cost 70, Risk 48, Mission 67, Tradability 46, Holdings not scored, Durability 44. PANG: Cost 70, Risk 75, Mission 94, Tradability 73, Holdings not scored, Durability 57.
Pillar letters and Scores for GRAG, PANG, with each pillar’s weight
PillarGRAGPANG
Cost30% weightA70A70
Mission25% weightB67A94Higher
Risk15% weightC48A75Higher
Tradability15% weightC46A73Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC44B57Higher

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. GRAG 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 GRAG 123rd of 315 funds in the Single-Stock Long Leveraged Category.

  1. Rank 1ATSMGLeverage Shares 2x Long TSM Daily ETFScore 74
  2. Rank 2AUNHGLeverage Shares 2x Long UNH Daily ETFScore 72
  3. Rank 3APANGLeverage Shares 2x Long PANW Daily ETFScore 70
  4. Rank 4BAMDGLeverage Shares 2x Long AMD Daily ETFScore 69
  5. Rank 123CGOOLLeverage Shares 2X Long GOOGL Daily ETFScore 40
  6. Rank 123CGRAGLeverage Shares 2x Long GRAB Daily ETFScore 40
  7. Rank 123CHIMCCorgi HIMS 2x Daily ETFScore 40

Our read on each fund

ETF.net Research

GRAGCLeverage Shares 2x Long GRAB Daily ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

GRAG Two times Grab Holdings' daily move, in an ETF you can hold in a plain brokerage account. It costs 0.75%, under the usual toll for single-stock leverage, and the exposure resets every day, which makes it a short-horizon instrument.

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

GRAG The fund seeks daily investment results equal to 200% (2x) of Grab Holdings Limited stock's daily performance 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

  • GRAG 0.75% a year matches the rest of the Leverage Shares 2x lineup (UNHG, ASMG, AMDG) and undercuts the 0.96% on Direxion's AAPU and GGLL.
  • One dial, no moving parts: 200% of Grab's daily move before fees. No options to roll, no index to track, no margin account or swap agreement of your own.leverageshares.com
  • Single-stock leverage skews US megacap (AAPU on Apple, GGLL on Alphabet). This one aims the same 2x machinery at Grab Holdings, a name outside that pack.
  • 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

  • GRAG The 2x target is a one-day target. Hold longer and compounding takes over, so multi-day results can drift from twice Grab's move over the same stretch.leverageshares.com
  • One company, doubled. An earnings miss, a regulatory shift or a single headline at Grab lands here at twice the size, with no other holdings to cushion it.
  • It launched in December 2025 and has traded thinly since. Light volume tends to mean wider bid/ask spreads and more slippage on the way in and out.
  • 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 GRAG profile⁠

Full PANG profile⁠

GRAG 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.

GRAG vs PANG Cost

Overpaying PANG vs GRAG

$174

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

  • GRAG 0.75%

    $14,482

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • GRAG 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 $14,656GRAG $14,482

Year by year

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

Expense ratio

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

GRAG 87th cheapest of 315 funds

PANG 131st cheapest of 315 funds

GRAG vs PANG Dividends

Last 12 months to Nov 5, 2026
Payout (12M)
GRAG None
PANG No data
Last payment
GRAG No data
PANG $1.30
Ex-dividend
GRAG No data
PANG Dec 30, 2025
Paid on
GRAG No data
PANG Jan 2, 2026
Frequency
GRAG No data
PANG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

GRAGAll GRAG 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

GRAG vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
GRAG No dataPANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
GRAG No dataPANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
GRAG No dataPANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
GRAG 1.40PANG 3.57

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