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LLYX vs PANG

Daily Target 2X Long LLY ETF

LLYXCNYSE Arca

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

0.0%by weight

Expense ratio

PANG −0.73pt a year

LLYX1.49%PANG0.76%

Avg volume · 30D

LLYX 7.5×the volume

LLYX333KPANG44.6K

LLYX vs PANG Performance

Oct 31, 2025 – Nov 2, 2026

+108.4%LLYX+76.3%PANG

Oct 31, 2025 to Nov 2, 2026. LLYX +108.4%. PANG +76.3%. Use the arrow keys to read each point.−50%0%50%150%Oct 2025May 2026Nov 2026
Expense ratio
LLYX 1.49%
PANG 0.76%, better
Fund size
LLYX $92M
PANG $9M
1Y total return
LLYX +108.4%, better
PANG +76.3%
Holdings
LLYX 9
PANG 4
Avg volume (30D)
LLYX 333K sh, better
PANG 44.6K sh
NAV per share
LLYX $35.62
PANG $31.31
52W range

ETF.net Grade

LLYX: Cost 11, Risk 84, Mission 73, Tradability 79, Holdings not scored, Durability 81. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for LLYX, PANG, with each pillar’s weight
PillarLLYXPANG
Cost30% weightF11A70Higher
Mission25% weightA73A94Higher
Risk15% weightA84HigherA74
Tradability15% weightA79HigherA74
Holdings10% weightNot scoredNot scored
Durability5% weightA81HigherB59

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. LLYX 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 LLYX 92nd 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 88CSMCXDaily Target 2X Long SMCI ETFScore 49
  7. Rank 92CLLYXDaily Target 2X Long LLY ETFScore 48
  8. Rank 92CMRNXDaily Target 2X Long MRNA ETFScore 48

Our read on each fund

ETF.net Research

LLYXCDaily Target 2X Long LLY ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

LLYX A one-stock geared trade: LLYX uses swaps to chase twice Eli Lilly's daily move, reset every session. Live since 2024, it is the pricier of the two leveraged LLY funds at 1.49%.

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

LLYX The fund seeks daily leveraged returns equal to twice the daily percentage change in Eli Lilly and Company’s share price.

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

  • LLYX Pure mechanism: total return swaps on Eli Lilly, reset daily, aiming for twice LLY's move each session. It sits in a very small group of funds offering geared LLY exposure.defianceetfs.com
  • Geared LLY exposure in an ordinary brokerage account: no margin account, no options approval, and shares change hands regularly enough for everyday order sizes.defianceetfs.com
  • Upper half of a crowded single-stock leveraged field, helped by day-to-day results that have stayed close to the stated 2x daily target.
  • 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

  • LLYX Daily reset is the whole ballgame. Hold longer than a day and choppy LLY action can leave you with less than 2x the period move, even if the stock finishes higher.defianceetfs.com
  • Cost is the trade-off: 1.49% a year, above the category median, while the other leveraged LLY fund, ELIL, charges 1.07% net of a waiver through September 1, 2027.
  • One stock, doubled: an FDA or trial headline on Eli Lilly lands twice as hard here, and the exposure runs through swap counterparties rather than shares of LLY.defianceetfs.comsec.gov
  • 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 LLYX profile⁠

Full PANG profile⁠

LLYX vs PANG Holdings

How LLYX and PANG differ

Overlap by weight

0.0%

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

Level by level

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

Sector

No Sector split for LLYX and PANG.

Country, concentration and asset class

Country by domicile

Country weights in LLYX and PANG, widest gap first
CountryMore in LLYXMore in PANG
United StatesSame weight

Concentration

Weight in the 10 largest Holdings

  • LLYX270.6%
  • PANG210.1%

Securities held

  • LLYX2
  • PANG1

Asset class

LLYX
Leveraged/Inverse
PANG
Equity

Holdings

  • Only in LLYX2
  • In both0
  • Only in PANG1

Only in LLYX

2 securities, 70.1% of LLYX by weight

  • United States Treasury Bill 11/19/202662.81%
  • First American Government Obligations Fund 12/01/20317.33%

Only in PANG

1 security, 10.0% of PANG by weight

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

Weight gaps

LLYX and PANG share no securities.

All 10 LLYX 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.

LLYX vs PANG Cost

Overpaying LLYX vs PANG

$11,485

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

  • LLYX 1.49%

    $26,141

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • LLYX 1.49%
  • 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$30K051015202530LLYX $26,141PANG $14,656

Year by year

YearLLYXPANGOverpaying
10$2,574$1,353$1,221
20$9,464$5,142$4,322
30$26,141$14,656$11,485

Expense ratio

  • 1.49%LLYX
  • 0.76%PANG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

PANG 131st cheapest of 315 funds

LLYX 263rd cheapest of 315 funds

LLYX vs PANG Dividends

Last 12 months to Nov 2, 2026
Last payment
LLYX $0.70
PANG $1.30
Ex-dividend
LLYX Dec 30, 2025
PANG Dec 30, 2025
Paid on
LLYX Dec 31, 2025
PANG Jan 2, 2026
Frequency
LLYX Irregular
PANG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

LLYXIrregular · 1 paymentAll LLYX payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $0.70. Use the arrow keys to read each point.$0$12026YTD
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

LLYX vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
LLYX 74.1%since Sep 2024PANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
LLYX 0.39since Sep 2024PANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
LLYX −68.0%since Aug 2024PANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
LLYX 0.60PANG 3.32

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