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MPG vs PANG

Leverage Shares 2x Long MP Daily ETF

MPGCNasdaq

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

MPG0.76%PANG0.76%

Avg volume · 30D

MPG 5.8×the volume

MPG259KPANG44.6K

MPG vs PANG Performance

Oct 31, 2025 – Oct 30, 2026

−79.1%MPG+91.6%PANG

Oct 31, 2025 to Oct 30, 2026. MPG −79.1%. PANG +91.6%. Use the arrow keys to read each point.−50%0%50%150%Oct 2025Apr 2026Oct 2026
Expense ratio
MPG 0.76%
PANG 0.76%
Fund size
MPG $3M
PANG $9M
1Y total return
MPG −79.1%
PANG +91.6%, better
Holdings
MPG 5
PANG 4
Avg volume (30D)
MPG 259K sh, better
PANG 44.6K sh
NAV per share
MPG $2.47
PANG $31.31
52W range

ETF.net Grade

MPG: Cost 70, Risk 47, Mission 99, Tradability 59, Holdings not scored, Durability 48. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for MPG, PANG, with each pillar’s weight
PillarMPGPANG
Cost30% weightA70A70
Mission25% weightA99HigherA94
Risk15% weightC47A74Higher
Tradability15% weightB59A74Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC48B59Higher

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. MPG 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 MPG 123rd 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 123CMNSXCorgi MNST 2x Daily ETFScore 40
  7. Rank 123CMPGLeverage Shares 2x Long MP Daily ETFScore 40
  8. Rank 123CMPWCCorgi MPWR 2x Daily ETFScore 40

Our read on each fund

ETF.net Research

MPGCLeverage Shares 2x Long MP Daily ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

MPG Two times the daily move of MP Materials, owner of Mountain Pass, North America's only active, scaled rare earth site. A supply-chain trade with the volume turned up, at 0.76% a year with no waiver propping up the number.

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

MPG The fund seeks daily investment results, before fees and expenses, equal to 200% of the daily performance of MP Materials Corp. stock (MP).

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

  • MPG 0.76% a year, gross and net identical, no fee waiver doing the work, and below the typical fee in the single-stock leveraged crowd.
  • One holding, one job: 200% of MP Materials' daily move, the US rare earth magnet story with leverage attached.mpmaterials.com
  • Trades like a stock: no margin account, no margin calls, and exposure limited to what you put in, per the issuer factsheet.leverageshares.com
  • Day to day, results have hugged the stated 2x target closely, which is the whole point of a daily-reset product.
  • 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

  • MPG The 2x resets daily. Hold for weeks and compounding takes the wheel; choppy stretches can leave you short of 2x the stock's move.leverageshares.com
  • One company, no diversification. MP Materials swings hard on policy and rare earth headlines, and this doubles those swings both ways.mpmaterials.com
  • Launched in 2025 and still a small fund with moderate volume, so spreads can run wider than on the category's giants.
  • 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 MPG profile⁠

Full PANG profile⁠

MPG 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.

MPG vs PANG Cost

Same expense ratio

$14,656

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

  • MPG 0.76%

    $14,656

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • MPG 0.76%
  • PANG 0.76%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530MPG $14,656PANG $14,656

Year by year

YearMPGPANG
10$1,353$1,353
20$5,142$5,142
30$14,656$14,656

Expense ratio

  • 0.76%MPG
  • 0.76%PANG
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

MPG 131st cheapest of 315 funds

PANG 131st cheapest of 315 funds

MPG vs PANG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

MPGAll MPG 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

MPG vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MPG 142.7%since Nov 2025PANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
MPG −0.48since Nov 2025PANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
MPG No dataPANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
MPG 7.82PANG 3.32

Popular comparisons

  • MPGCvsTSMGA

    Leverage Shares 2x Long MP 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.

  • 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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    Expense ratio
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    Category
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    Category
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    Expense ratio
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    Category
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