Skip to content
etf.net

KEEX vs PANG

Defiance Daily Target 2X Long BITF ETF

KEEXDCboe

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

0.0%by weight

Expense ratio

PANG −0.59pt a year

KEEX1.35%PANG0.76%

Avg volume · 30D

KEEX 3.6×the volume

KEEX162KPANG44.6K

KEEX vs PANG Performance

Jul 31, 2026 – Nov 2, 2026

−84.2%KEEX−1.5%PANG

Jul 31, 2026 to Nov 2, 2026. KEEX −84.2%. PANG −1.5%. Use the arrow keys to read each point.−50%−25%25%50%Jul 2026Sep 2026Nov 2026
Expense ratio
KEEX 1.35%
PANG 0.76%, better
Fund size
KEEX $3M
PANG $9M
1Y total return
KEEX No data
PANG +76.3%
Holdings
KEEX 8
PANG 4
Avg volume (30D)
KEEX 162K sh, better
PANG 44.6K sh
NAV per share
KEEX $2.08
PANG $31.31
52W range

ETF.net Grade

KEEX: Cost 21, Risk 37, Mission 92, Tradability 25, Holdings not scored, Durability 54. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for KEEX, PANG, with each pillar’s weight
PillarKEEXPANG
Cost30% weightF21A70Higher
Mission25% weightA92A94Higher
Risk15% weightD37A74Higher
Tradability15% weightD25A74Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC54B59Higher

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. KEEX 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 KEEX 283rd 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 283DCRWUT-REX 2X Long CRWV Daily Target ETFScore 28
  7. Rank 283DKEEXDefiance Daily Target 2X Long BITF ETFScore 28
  8. Rank 283DMSTPGraniteShares 2x Long MSTR Daily ETFScore 28

Our read on each fund

ETF.net Research

KEEXDDefiance Daily Target 2X Long BITF ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

KEEX KEEX launched as a 2x Bitfarms tracker, then changed name and ticker when the miner redomiciled to the US and rebranded as Keel Infrastructure. The mechanic never moved: two times KEEL's daily move, one trading day at a time.

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

KEEX The Fund seeks daily investment results, before fees and expenses, equal to two times the daily percentage change in Keel Infrastructure Corp.'s share price. It is designed to pursue this objective only for a single trading 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

  • KEEX Does one job and says it plainly: two times the daily percentage change in Keel Infrastructure's share price, before fees. Day to day it has tracked that target closely.defianceetfs.com
  • It followed its underlying through a full identity change: Bitfarms redomiciled to the US and became Keel Infrastructure in 2026, and the fund's name and ticker moved with it.sec.govsec.gov 2
  • Amplified exposure to a single stock from a plain brokerage ticker: no margin account, no options chain, no borrowing to arrange yourself.defianceetfs.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

  • KEEX The 2x target resets daily. Hold longer and compounding takes over, so multi-day results can land well away from twice the stock's move, especially in choppy markets.defianceetfs.com
  • At 1.35% a year it prices above the single-stock leveraged norm. Leverage Shares' 2x wrappers on other names (OKTG at 0.75%, TSMG at 0.76%) show how cheap the plumbing gets.
  • One stock, doubled, mid-pivot from bitcoin mining to data centers. It is also smaller and less traded than the category's giants, so spreads can run wider.defianceetfs.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 KEEX profile⁠

Full PANG profile⁠

KEEX vs PANG Holdings

How KEEX and PANG differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of KEEX and 0.0% of PANG.

Level by level

  • Asset classLeveraged/Inverse, Equity0.0%
  • Holdings0 in both0.0%
  • Countryby domicile100%

Sector

No Sector split for KEEX and PANG.

Country, concentration and asset class

Country by domicile

Country weights in KEEX and PANG, widest gap first
CountryMore in KEEXMore in PANG
United StatesSame weight

Concentration

Weight in the 10 largest Holdings

  • KEEX267.3%
  • PANG210.1%

Securities held

  • KEEX2
  • PANG1

Asset class

KEEX
Leveraged/Inverse
PANG
Equity

Holdings

  • Only in KEEX2
  • In both0
  • Only in PANG1

Only in KEEX

2 securities, 66.8% of KEEX by weight

  • United States Treasury Bill 11/19/202659.05%
  • First American Government Obligations Fund 12/01/20317.77%

Only in PANG

1 security, 10.0% of PANG by weight

  • First American Treasury Obligations Fund 01/01/204010.04%

Weight gaps

KEEX and PANG share no securities.

All 9 KEEX 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.

KEEX vs PANG Cost

Overpaying KEEX vs PANG

$9,457

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

  • KEEX 1.35%

    $24,113

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • KEEX 1.35%
  • 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$15K$20K$25K051015202530KEEX $24,113PANG $14,656

Year by year

YearKEEXPANGOverpaying
10$2,346$1,353$993
20$8,678$5,142$3,536
30$24,113$14,656$9,457

Expense ratio

  • 1.35%KEEX
  • 0.76%PANG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

PANG 131st cheapest of 315 funds

KEEX 252nd cheapest of 315 funds

KEEX vs PANG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

KEEXAll KEEX 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

KEEX vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
KEEX No dataPANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
KEEX No dataPANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
KEEX No dataPANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
KEEX 9.64PANG 3.32

Popular comparisons

  • KEEXDvsTSMGA

    Defiance Daily Target 2X Long BITF ETF · Leverage Shares 2x Long TSM Daily ETF

    Expense ratio
    1.35% · 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.

  • KEEXDvsUNHGA

    Defiance Daily Target 2X Long BITF ETF · Leverage Shares 2x Long UNH Daily ETF

    Expense ratio
    1.35% · 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.

  • KEEXDvsOKTGA

    Defiance Daily Target 2X Long BITF ETF · Leverage Shares 2x Long OKTA Daily ETF

    Expense ratio
    1.35% · 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.