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LUNL vs PANG

Daily Target 2X Long LUNR ETF

LUNLDCboe

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

Expense ratio

PANG −0.58pt a year

LUNL1.34%PANG0.76%

Avg volume · 30D

LUNL 33.9×the volume

LUNL1.51MPANG44.6K

LUNL vs PANG Performance

Jul 31, 2026 – Oct 30, 2026

−42.5%LUNL+7.0%PANG

Jul 31, 2026 to Oct 30, 2026. LUNL −42.5%. PANG +7.0%. Use the arrow keys to read each point.50%100%150%Jul 2026Sep 2026Oct 2026
Expense ratio
LUNL 1.34%
PANG 0.76%, better
Fund size
LUNL $9M
PANG $9M
1Y total return
LUNL No data
PANG +91.6%
Holdings
LUNL 9
PANG 4
Avg volume (30D)
LUNL 1.51M sh, better
PANG 44.6K sh
NAV per share
LUNL $1.69
PANG $31.31
52W range

ETF.net Grade

LUNL: Cost 22, Risk 28, Mission 87, Tradability 59, Holdings not scored, Durability 60. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for LUNL, PANG, with each pillar’s weight
PillarLUNLPANG
Cost30% weightF22A70Higher
Mission25% weightA87A94Higher
Risk15% weightD28A74Higher
Tradability15% weightB59A74Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB60HigherB59

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. LUNL 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 LUNL 264th 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 261DTDCLGraniteShares 2x Long TDC Daily ETFScore 35
  7. Rank 264DLUNLDaily Target 2X Long LUNR ETFScore 34
  8. Rank 264DMRALGraniteShares 2x Long MARA Daily ETFScore 34

Our read on each fund

ETF.net Research

LUNLDDaily Target 2X Long LUNR ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

LUNL A 2x daily lever on Intuitive Machines, the lunar-lander company. Defiance billed it as the first leveraged ETF on LUNR, and the leverage resets every session, so it is a day-trade tool rather than a buy-and-forget moon bet.

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

LUNL Seeks daily investment results, before fees and expenses, equal to two times (200%) the daily percentage change in the share price of Intuitive Machines, Inc.; the Fund is intended for single‐day (daily) use.

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

  • LUNL Defiance launched it in January 2026 as the first 2x daily ETF on Intuitive Machines, so the trade needs no margin account and no options chain.yahoo.com
  • One job: 200% of LUNR's daily move, before fees and expenses. No basket, no index committee, nothing else in the box.defianceetfs.com
  • It has stayed close to its stated 2x daily mark, and it trades actively enough for traders to get in and out inside a session.
  • The reference stock is a space infrastructure name built around lunar access and data services, a corner of the market with few leveraged wrappers.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

  • LUNL The fee is 1.34%, with no waiver in place, above the norm for leveraged single-stock funds. Leverage Shares' 2x funds such as TSMG (0.76%) and OKTG (0.75%) cost less.
  • Leverage resets daily. Hold past one session and the result depends on the path LUNR takes; the prospectus says the fund is intended for single-day use.
  • Doubling one volatile stock cuts both ways, and the fund has not been paying distributions, so the outcome rides entirely on price.
  • 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 LUNL profile⁠

Full PANG profile⁠

LUNL 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.

LUNL vs PANG Cost

Overpaying LUNL vs PANG

$9,309

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

  • LUNL 1.34%

    $23,965

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • LUNL 1.34%
  • 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$25K051015202530LUNL $23,965PANG $14,656

Year by year

YearLUNLPANGOverpaying
10$2,329$1,353$976
20$8,621$5,142$3,479
30$23,965$14,656$9,309

Expense ratio

  • 1.34%LUNL
  • 0.76%PANG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

PANG 131st cheapest of 315 funds

LUNL 250th cheapest of 315 funds

LUNL vs PANG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

LUNLAll LUNL 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

LUNL vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
LUNL No dataPANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
LUNL No dataPANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
LUNL No dataPANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
LUNL 9.30PANG 3.32

Popular comparisons

  • LUNLDvsTSMGA

    Daily Target 2X Long LUNR ETF · Leverage Shares 2x Long TSM Daily ETF

    Expense ratio
    1.34% · 0.76%
    Category
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  • PANGAvsTSMGA

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

    Expense ratio
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    Category
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  • LUNLDvsUNHGA

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    Category
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    Expense ratio
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    Category
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    Expense ratio
    1.34% · 0.75%
    Category
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  • PANGAvsOKTGA

    Leverage Shares 2x Long PANW Daily ETF · Leverage Shares 2x Long OKTA Daily ETF

    Expense ratio
    0.76% · 0.75%
    Category
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