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IREG vs PANG

Leverage Shares 2x Long IREN Daily ETF

IREGBNasdaq

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

Expense ratio

IREG −0.01pt a year

IREG0.75%PANG0.76%

Avg volume · 30D

IREG 28.7×the volume

IREG1.28MPANG44.6K

IREG vs PANG Performance

Dec 31, 2025 – Oct 30, 2026

−85.8%IREG+183.4%PANG

Dec 31, 2025 to Oct 30, 2026. IREG −85.8%. PANG +183.4%. Use the arrow keys to read each point.0%100%300%Dec 2025Jun 2026Oct 2026
Expense ratio
IREG 0.75%, better
PANG 0.76%
Fund size
IREG $18M
PANG $9M
1Y total return
IREG No data
PANG +91.6%
Holdings
IREG 5
PANG 4
Avg volume (30D)
IREG 1.28M sh, better
PANG 44.6K sh
NAV per share
IREG $2.34
PANG $31.31
52W range

ETF.net Grade

IREG: Cost 70, Risk 31, Mission 87, Tradability 75, Holdings not scored, Durability 55. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for IREG, PANG, with each pillar’s weight
PillarIREGPANG
Cost30% weightA70A70
Mission25% weightA87A94Higher
Risk15% weightD31A74Higher
Tradability15% weightA75HigherA74
Holdings10% weightNot scoredNot scored
Durability5% weightB55B59Higher

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. IREG 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 IREG 37th 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 37BCRWGLeverage Shares 2x Long CRWV Daily ETFScore 60
  7. Rank 37BIREGLeverage Shares 2x Long IREN Daily ETFScore 60
  8. Rank 37BMETUDirexion Daily META Bull 2X ETFScore 60

Our read on each fund

ETF.net Research

IREGBLeverage Shares 2x Long IREN Daily ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

IREG A 2x daily swing at a single stock, priced like an index fund. IREG aims to deliver twice IREN Limited's daily move for 0.75% a year, roughly half what the other leveraged IREN ETF charges.

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

IREG The fund seeks to deliver twice the daily performance of IREN Limited 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

  • IREG 0.75% a year, against 1.31% for the only other 2x IREN ETF (IRE), and cheaper than the typical leveraged single-stock fund.leverageshares.com
  • Has hewed closely to its stated job of doubling IREN's daily move, one of the stronger implementations in the leveraged single-stock bull crowd.
  • Standard 1940 Act ETF wrapper: leveraged exposure through an ordinary brokerage ticket, no margin account, options approval or K-1 paperwork.leverageshares.com
  • 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

  • IREG The 2x resets every day. Hold past a single session and compounding takes over, so multi-day results can drift far from twice IREN's move, especially in choppy tape.leverageshares.com
  • Leverage points both ways: a rough day in IREN lands about twice as hard here, before fees.leverageshares.com
  • One company, no diversification, and a track record that only starts in December 2025.
  • 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 IREG profile⁠

Full PANG profile⁠

IREG 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.

IREG vs PANG Cost

Overpaying PANG vs IREG

$174

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

  • IREG 0.75%

    $14,482

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • IREG 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 $14,656IREG $14,482

Year by year

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

Expense ratio

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

IREG 87th cheapest of 315 funds

PANG 131st cheapest of 315 funds

IREG vs PANG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

IREGAll IREG 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

IREG vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
IREG No dataPANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
IREG No dataPANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
IREG No dataPANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
IREG 8.86PANG 3.32

Popular comparisons

  • IREGBvsTSMGA

    Leverage Shares 2x Long IREN Daily ETF · Leverage Shares 2x Long TSM Daily ETF

    Expense ratio
    0.75% · 0.76%
    Category
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  • PANGAvsTSMGA

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