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MVLL vs PANG

GraniteShares 2x Long MRVL Daily ETF

MVLLCNasdaq

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

Expense ratio

PANG −1.21pt a year

MVLL1.97%PANG0.76%

Avg volume · 30D

MVLL 73.9×the volume

MVLL3.3MPANG44.6K

MVLL vs PANG Performance

Oct 31, 2025 – Oct 30, 2026

+91.2%MVLL+91.6%PANG

Oct 31, 2025 to Oct 30, 2026. MVLL +91.2%. PANG +91.6%. Use the arrow keys to read each point.200%400%600%Oct 2025Apr 2026Oct 2026
Expense ratio
MVLL 1.97%
PANG 0.76%, better
Fund size
MVLL $227M
PANG $9M
1Y total return
MVLL +91.2%
PANG +91.6%, better
Holdings
MVLL 2
PANG 4
Avg volume (30D)
MVLL 3.3M sh, better
PANG 44.6K sh
NAV per share
MVLL $22.72
PANG $31.31
52W range

ETF.net Grade

MVLL: Cost 0, Risk 60, Mission 99, Tradability 93, Holdings not scored, Durability 81. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for MVLL, PANG, with each pillar’s weight
PillarMVLLPANG
Cost30% weightF0A70Higher
Mission25% weightA99HigherA94
Risk15% weightB60A74Higher
Tradability15% weightA93HigherA74
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. MVLL 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 MVLL 118th 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 118CINTWGraniteShares 2x Long INTC Daily ETFScore 41
  7. Rank 118CMVLLGraniteShares 2x Long MRVL Daily ETFScore 41
  8. Rank 118CSNXXTradr 2X Long SNDK Daily ETFScore 41

Our read on each fund

ETF.net Research

MVLLCGraniteShares 2x Long MRVL Daily ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

MVLL Two times Marvell's daily move, reset every night. Trading since March 2025, MVLL is the longer-running of the two 2x MRVL funds, and it charges 1.50% net of a waiver through December 31, 2026.

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

MVLL The Fund seeks daily investment results, before fees and expenses, equal to twice the daily percentage change of Marvell Technology, Inc.

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

  • MVLL The mandate is literal: twice the daily percentage change of Marvell Technology stock, before fees. Day to day, the fund has stuck closely to that stated target.graniteshares.com
  • Actively traded by the standards of single-stock leverage, and it prices well on the exchange, which matters for the in-and-out trading this structure is built around.
  • Live since March 7, 2025, giving it a longer operating record than Direxion's MRVU, the other 2x MRVL fund, which launched in February 2026.graniteshares.comdirexion.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

  • MVLL Cost is the trade-off: 1.50% net of a waiver through December 31, 2026 (2.52% gross), above the category median and above MRVU's 0.97%, net of a waiver through September 1, 2027.
  • The 2x target resets every day. Hold past that and compounding takes the wheel, so multi-day results can land far from twice MRVL's move, especially after choppy stretches.graniteshares.com
  • One stock, no diversification cushion. A single earnings night at Marvell drives the whole fund, doubled, in either direction.graniteshares.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 MVLL profile⁠

Full PANG profile⁠

MVLL 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.

MVLL vs PANG Cost

Overpaying MVLL vs PANG

$17,875

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

  • MVLL 1.97%

    $32,531

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • MVLL 1.97%
  • 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$30K$40K051015202530MVLL $32,531PANG $14,656

Year by year

YearMVLLPANGOverpaying
10$3,336$1,353$1,983
20$12,012$5,142$6,870
30$32,531$14,656$17,875

Expense ratio

  • 1.97%MVLL
  • 0.76%PANG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

PANG 131st cheapest of 315 funds

MVLL 314th cheapest of 315 funds

MVLL vs PANG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

MVLLAll MVLL 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

MVLL vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MVLL 186.4%since Apr 2025PANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
MVLL 1.11since Apr 2025PANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
MVLL −78.9%since Mar 2025PANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
MVLL 7.79PANG 3.32

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