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MSTU vs PANG

T-REX 2X Long MSTR Daily Target ETF

MSTUCCboe

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

Expense ratio

PANG −0.29pt a year

MSTU1.05%PANG0.76%

Avg volume · 30D

MSTU 181.0×the volume

MSTU8.08MPANG44.6K

MSTU vs PANG Performance

Oct 31, 2025 – Nov 2, 2026

−91.0%MSTU+76.3%PANG

Oct 31, 2025 to Nov 2, 2026. MSTU −91.0%. PANG +76.3%. Use the arrow keys to read each point.−50%0%150%Oct 2025May 2026Nov 2026
Expense ratio
MSTU 1.05%
PANG 0.76%, better
Fund size
MSTU $542M
PANG $9M
1Y total return
MSTU −91.0%
PANG +76.3%, better
Holdings
MSTU 4
PANG 4
Avg volume (30D)
MSTU 8.08M sh, better
PANG 44.6K sh
NAV per share
MSTU $27.00
PANG $31.31
52W range

ETF.net Grade

MSTU: Cost 42, Risk 31, Mission 80, Tradability 61, Holdings not scored, Durability 81. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for MSTU, PANG, with each pillar’s weight
PillarMSTUPANG
Cost30% weightC42A70Higher
Mission25% weightA80A94Higher
Risk15% weightD31A74Higher
Tradability15% weightB61A74Higher
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. MSTU 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 MSTU 97th 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 97CHYNXT-REX 2X Long SK Hynix Daily Target ETFScore 46
  7. Rank 97CMSTUT-REX 2X Long MSTR Daily Target ETFScore 46
  8. Rank 97CNBILGraniteShares 2x Long NBIS Daily ETFScore 46

Our read on each fund

ETF.net Research

MSTUCT-REX 2X Long MSTR Daily Target ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

MSTU Two times MicroStrategy's daily move, reset every morning. MSTU is the liquid, lower-fee way to run that trade: less than half the fee of its 2X MSTR rival, and one of the busiest tickers in the leveraged single-stock aisle.

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

MSTU MSTU seeks daily investment results, before fees and expenses, equal to 200% of the performance of MicroStrategy Inc.'s publicly traded common stock. It is designed for a holding period of one trading day, not for tracking the multiple over longer periods.

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

  • MSTU At 1.05% a year, it charges under half what rival 2X MSTR fund MSTP does (2.30%), and lands right around the median for leveraged single-stock funds.
  • Among the most actively traded funds in the leveraged single-stock group, which matters when the intended holding period is one day and spreads eat the edge.
  • The mandate is blunt: 200% of MSTR's daily move, before fees, inside a 1940 Act fund. One lever, no index to second-guess, no overlay.rexshares.com
  • A several-hundred-million-dollar fund that sits in the upper half of a crowded field of leveraged single-stock bull products.
  • 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

  • MSTU The 2x is a daily target that resets each morning. Held through a choppy stretch, results can drift well away from twice MSTR's move, in either direction.
  • One stock, doubled. No diversification cushion, and MSTR is a hard mover on its own, so drawdowns can arrive fast and deep.
  • Launched in 2024, so its record covers a short, unusually wild window for MSTR rather than a full market cycle. It also pays no distributions.
  • 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 MSTU profile⁠

Full PANG profile⁠

MSTU 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.

MSTU vs PANG Cost

Overpaying MSTU vs PANG

$4,839

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

  • MSTU 1.05%

    $19,495

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • MSTU 1.05%
  • 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$20K051015202530MSTU $19,495PANG $14,656

Year by year

YearMSTUPANGOverpaying
10$1,847$1,353$494
20$6,927$5,142$1,785
30$19,495$14,656$4,839

Expense ratio

  • 1.05%MSTU
  • 0.76%PANG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

PANG 131st cheapest of 315 funds

MSTU 201st cheapest of 315 funds

MSTU vs PANG Dividends

Last 12 months to Nov 2, 2026
Last payment
MSTU $0.29
PANG $1.30
Ex-dividend
MSTU Aug 25, 2026
PANG Dec 30, 2025
Paid on
MSTU Aug 26, 2026
PANG Jan 2, 2026
Frequency
MSTU Irregular
PANG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

MSTUIrregular · 1 paymentAll MSTU payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Aug 25, 2026 $0.29. 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

MSTU vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MSTU 157.3%since Oct 2024PANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
MSTU −0.54since Oct 2024PANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
MSTU −99.9%since Sep 2024PANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
MSTU 4.62PANG 3.32

MSTU and PANG in the news

All news⁠

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