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OCNL vs PANG

T-REX 2X Long DOCN Daily Target ETF

OCNLFCboe

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Overlap

0.0%by weight

Expense ratio

PANG −0.74pt a year

OCNL1.50%PANG0.76%

Avg volume · 30D

PANG 7.6×the volume

OCNL5.86KPANG44.6K

OCNL vs PANG Performance

Sep 30, 2026 – Oct 30, 2026

−59.6%OCNL−18.8%PANG

Sep 30, 2026 to Oct 30, 2026. OCNL −59.6%. PANG −18.8%. Use the arrow keys to read each point.−40%0%Sep 30Oct 15Oct 30
Expense ratio
OCNL 1.50%
PANG 0.76%, better
Fund size
OCNL $0
PANG $9M
1Y total return
OCNL No data
PANG +91.6%
Holdings
OCNL 2
PANG 4
Avg volume (30D)
OCNL 5.86K sh
PANG 44.6K sh, better
NAV per share
OCNL $12.61
PANG $31.31
52W range

ETF.net Grade

OCNL: Cost 11, Risk 43, Mission not scored, Tradability 16, Holdings not scored, Durability 27. PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59.
Pillar letters and Scores for OCNL, PANG, with each pillar’s weight
PillarOCNLPANG
Cost30% weightF11A70Higher
Mission25% weightNot scoredA94
Risk15% weightC43A74Higher
Tradability15% weightF16A74Higher
Holdings10% weightNot scoredNot scored
Durability5% weightD27B59Higher

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. OCNL 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 OCNL 303rd 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 302FONDUTradr 2X Long ONDS Daily ETFScore 21
  7. Rank 303FOCNLT-REX 2X Long DOCN Daily Target ETFScore 20
  8. Rank 304FEOSUT-REX 2X Long EOSE Daily Target ETFScore 18

Our read on each fund

ETF.net Research

OCNLFT-REX 2X Long DOCN Daily Target ETF

PANGALeverage Shares 2x Long PANW Daily ETF

In short

OCNL 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

OCNL 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

OCNL 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

OCNL 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 OCNL profile⁠

Full PANG profile⁠

OCNL vs PANG Holdings

How OCNL and PANG differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of OCNL and 0.0% of PANG.

Level by level

  • Holdings0 in both0.0%
  • Asset classEquity100%

Sector

No Sector split for OCNL and PANG.

Country, concentration and asset class

Country by domicile

No country split for OCNL.

Concentration

Weight in the 10 largest Holdings

  • OCNL321.2%
  • PANG208.4%

Securities held

  • OCNL1
  • PANG1

Asset class

OCNL
Equity
PANG
Equity

Holdings

  • Only in OCNL1
  • In both0
  • Only in PANG1

Only in OCNL

1 security, 100% of OCNL by weight

  • Recv Ocnl Trs Docn Eq210.44%

Only in PANG

1 security, 8.4% of PANG by weight

  • First American Treasury Obligations Fund 01/01/20408.43%

Weight gaps

OCNL and PANG share no securities.

All 3 OCNL 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.

OCNL vs PANG Cost

Overpaying OCNL vs PANG

$11,627

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

  • OCNL 1.50%

    $26,283

  • PANG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • OCNL 1.50%
  • 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$30K051015202530OCNL $26,283PANG $14,656

Year by year

YearOCNLPANGOverpaying
10$2,590$1,353$1,237
20$9,519$5,142$4,377
30$26,283$14,656$11,627

Expense ratio

  • 1.50%OCNL
  • 0.76%PANG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

PANG 131st cheapest of 315 funds

OCNL 271st cheapest of 315 funds

OCNL vs PANG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

OCNLAll OCNL 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

OCNL vs PANG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
OCNL No dataPANG 128.2%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
OCNL No dataPANG 0.90since Apr 2025
Worst fallMax drawdown, 5 years
OCNL No dataPANG −62.4%since Mar 2025
Market sensitivityBeta, 5 years
OCNL 0.00PANG 3.32

Popular comparisons

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    Expense ratio
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