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NBIG vs PANG

Leverage Shares 2x Long NBIS Daily ETF

NBIGBNasdaq

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

Expense ratio

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

NBIG0.76%PANG0.76%

Avg volume · 30D

NBIG 66.9×the volume

NBIG2.99MPANG44.6K

NBIG vs PANG Performance

Oct 31, 2025 – Oct 30, 2026

−63.1%NBIG+91.6%PANG

Oct 31, 2025 to Oct 30, 2026. NBIG −63.1%. PANG +91.6%. Use the arrow keys to read each point.0%50%150%Oct 2025Apr 2026Oct 2026
Expense ratio
NBIG 0.76%
PANG 0.76%
Fund size
NBIG $71M
PANG $9M
1Y total return
NBIG −63.1%
PANG +91.6%, better
Holdings
NBIG 6
PANG 4
Avg volume (30D)
NBIG 2.99M sh, better
PANG 44.6K sh
NAV per share
NBIG $6.96
PANG $31.31
52W range

ETF.net Grade

NBIG: Cost 70, Risk 44, Mission 99, Tradability 90, Holdings not scored, Durability 64. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for NBIG, PANG, with each pillar’s weight
PillarNBIGPANG
Cost30% weightA70A70
Mission25% weightA99HigherA94
Risk15% weightC44A74Higher
Tradability15% weightA90HigherA74
Holdings10% weightNot scoredNot scored
Durability5% weightB64HigherB59

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. NBIG 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 NBIG 11th 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 11BECHXLeverage Shares 2X Long SATS Daily ETFScore 67
  7. Rank 11BNBIGLeverage Shares 2x Long NBIS Daily ETFScore 67
  8. Rank 15BGEVGLeverage Shares 2x Long GEV Daily ETFScore 66

Our read on each fund

ETF.net Research

NBIGBLeverage Shares 2x Long NBIS Daily ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

NBIG A one-day trade on Nebius, the AI cloud builder, dialed to 2x. NBIG aims for 200% of NBIS's daily move, charges 0.76% (below the category norm), and has hugged that daily target closely since launch.

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

NBIG The fund seeks daily investment results, before fees and expenses, equal to 200% of the daily performance of NBIS.

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

  • NBIG Does exactly what the label says: 200% of NBIS's daily move, nothing clever bolted on. At 0.76% it sits below the typical fee in this category.
  • Tracking has stayed close to the 2x daily mandate, one of the stronger implementations among the hundreds of single-stock bull funds in its peer group.
  • Actively traded for a single-stock leveraged fund, so sizing in and out within the session is rarely a wrestling match.
  • Part of a deep Leverage Shares 2x bench, priced in line with siblings like TSMG at 0.76% and UNHG at 0.77%, none of it propped up by a fee waiver.
  • 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

  • NBIG Daily reset is math, not magic: hold past a day and compounding pulls returns away from 2x. Leverage Shares builds it for short-term trades, often single-day holds.leverageshares.com
  • Two times one stock. Nebius is an AI cloud infrastructure company, and its headline-driven swings land on NBIG twice as hard, in both directions.thestreet.com
  • Short history: it listed in October 2025, so its record has not yet spanned a full market cycle.
  • 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 NBIG profile⁠

Full PANG profile⁠

NBIG 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.

NBIG vs PANG Cost

Same expense ratio

$14,656

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

  • NBIG 0.76%

    $14,656

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • NBIG 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$15K051015202530NBIG $14,656PANG $14,656

Year by year

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

Expense ratio

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

NBIG 131st cheapest of 315 funds

PANG 131st cheapest of 315 funds

NBIG vs PANG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

NBIGAll NBIG 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

NBIG vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
NBIG 205.4%since Nov 2025PANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
NBIG 0.37since Nov 2025PANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
NBIG −84.1%since Oct 2025PANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
NBIG 7.53PANG 3.32

Popular comparisons

  • NBIGBvsTSMGA

    Leverage Shares 2x Long NBIS 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
    0.76% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • NBIGBvsUNHGA

    Leverage Shares 2x Long NBIS Daily ETF · Leverage Shares 2x Long UNH Daily ETF

    Expense ratio
    0.76% · 0.77%
    Category
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  • PANGAvsUNHGA

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

    Expense ratio
    0.76% · 0.77%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • NBIGBvsOKTGA

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    Expense ratio
    0.76% · 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
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.