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NIOG vs PANG

Leverage Shares 2x Long NIO Daily ETF

NIOGCNasdaq

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

6.7%by weight

Expense ratio

NIOG −0.01pt a year

NIOG0.75%PANG0.76%

Avg volume · 30D

NIOG 1.1×the volume

NIOG48.8KPANG44.6K

NIOG vs PANG Performance

Dec 31, 2025 – Nov 2, 2026

−71.2%NIOG+160.8%PANG

Dec 31, 2025 to Nov 2, 2026. NIOG −71.2%. PANG +160.8%. Use the arrow keys to read each point.0%100%300%Dec 2025Jun 2026Nov 2026
Expense ratio
NIOG 0.75%, better
PANG 0.76%
Fund size
NIOG $3M
PANG $9M
1Y total return
NIOG No data
PANG +76.3%
Holdings
NIOG 5
PANG 4
Avg volume (30D)
NIOG 48.8K sh, better
PANG 44.6K sh
NAV per share
NIOG $4.71
PANG $31.31
52W range

ETF.net Grade

NIOG: Cost 70, Risk 45, Mission not scored, Tradability 41, Holdings not scored, Durability 46. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for NIOG, PANG, with each pillar’s weight
PillarNIOGPANG
Cost30% weightA70A70
Mission25% weightNot scoredA94
Risk15% weightC45A74Higher
Tradability15% weightC41A74Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC46B59Higher

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. NIOG 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 NIOG 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 123CNFXCorgi NFLX 2x Daily ETFScore 40
  7. Rank 123CNIOGLeverage Shares 2x Long NIO Daily ETFScore 40
  8. Rank 123CNOWXCorgi NOW 2x Daily ETFScore 40

Our read on each fund

ETF.net Research

NIOGCLeverage Shares 2x Long NIO Daily ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

NIOG No data

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

NIOG No data

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

NIOG No data

  • 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

NIOG No data

  • 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 NIOG profile⁠

Full PANG profile⁠

NIOG vs PANG Holdings

How NIOG and PANG differ

Overlap by weight

6.7%

Shared holdings make up 10.0% of PANG and 6.7% of NIOG.

Level by level

  • Holdings1 in both6.7%
  • Asset classEquity100%
  • Countryby domicile100%

Sector

No Sector split for NIOG and PANG.

Country, concentration and asset class

Country by domicile

Country weights in NIOG and PANG, widest gap first
CountryMore in NIOGMore in PANG
United StatesSame weight

Concentration

Weight in the 10 largest Holdings

  • NIOG206.7%
  • PANG210.1%

Securities held

  • NIOG1
  • PANG1

Asset class

NIOG
Equity
PANG
Equity

Holdings

  • Only in NIOG0
  • In both1
  • Only in PANG0

Only in NIOG

0 securities, 0.0% of NIOG by weight

Only in PANG

0 securities, 0.0% of PANG by weight

Weight gaps

All 1 Holdings in both funds, largest gap first.

Holding weights in NIOG and PANG, widest gap first
HoldingMore in NIOGMore in PANG
First American Treasury Obligations Fund 01/01/2040PANG +3.37 points

All 5 NIOG holdings⁠All 4 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.

NIOG vs PANG Cost

Overpaying PANG vs NIOG

$174

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

  • NIOG 0.75%

    $14,482

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • NIOG 0.75%
  • 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$15K051015202530PANG $14,656NIOG $14,482

Year by year

YearNIOGPANGOverpaying
10$1,336$1,353$17
20$5,078$5,142$64
30$14,482$14,656$174

Expense ratio

  • 0.75%NIOG, cheaper
  • 0.76%PANG
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

NIOG 87th cheapest of 315 funds

PANG 131st cheapest of 315 funds

NIOG vs PANG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

NIOGAll NIOG 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

NIOG vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
NIOG No dataPANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
NIOG No dataPANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
NIOG No dataPANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
NIOG −1.81PANG 3.32

Popular comparisons

  • NIOGCvsTSMGA

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

    Expense ratio
    0.75% · 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.

  • NIOGCvsUNHGA

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

    Expense ratio
    0.75% · 0.77%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • 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.

  • NIOGCvsOKTGA

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

    Expense ratio
    0.75% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • 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.