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PANG vs RCAX

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Daily Target 2X Long RCAT ETF

RCAXDNasdaq

Overlap

Expense ratio

PANG −0.54pt a year

PANG0.76%RCAX1.30%

Avg volume · 30D

RCAX 1.9×the volume

PANG44.6KRCAX84.3K

PANG vs RCAX Performance

Jul 31, 2026 – Oct 30, 2026

+7.0%PANG−70.9%RCAX

Jul 31, 2026 to Oct 30, 2026. PANG +7.0%. RCAX −70.9%. Use the arrow keys to read each point.−50%50%100%Jul 2026Sep 2026Oct 2026
Expense ratio
PANG 0.76%, better
RCAX 1.30%
Fund size
PANG $9M
RCAX $3M
1Y total return
PANG +91.6%
RCAX No data
Holdings
PANG 4
RCAX 8
Avg volume (30D)
PANG 44.6K sh
RCAX 84.3K sh, better
NAV per share
PANG $31.31
RCAX $4.00
52W range

ETF.net Grade

PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59. RCAX: Cost 32, Risk 16, Mission 96, Tradability 26, Holdings not scored, Durability 50.
Pillar letters and Scores for PANG, RCAX, with each pillar’s weight
PillarPANGRCAX
Cost30% weightA70HigherD32
Mission25% weightA94A96Higher
Risk15% weightA74HigherF16
Tradability15% weightA74HigherD26
Holdings10% weightNot scoredNot scored
Durability5% weightB59HigherC50

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. PANG and RCAX 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 RCAX 283rd 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 283DQSUDaily Target 2X Long QS ETFScore 28
  7. Rank 283DRCAXDaily Target 2X Long RCAT ETFScore 28
  8. Rank 289DAKALT-REX 2X Long AKAM Daily Target ETFScore 27

Our read on each fund

ETF.net Research

PANGALeverage Shares 2x Long PANW Daily ETF

RCAXDDaily Target 2X Long RCAT ETF

In short

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.

RCAX The first 2x long ETF on Red Cat Holdings, a military drone maker. It aims for 200% of RCAT's daily move, resets every night, and charges 1.30%.

Stated mandate

PANG The ETF seeks daily investment results, before fees and expenses, equal to 200% of the daily performance of Palo Alto Networks, Inc. stock.

RCAX The fund seeks daily investment results, before fees and expenses, equal to two times the daily percentage change in Red Cat Holdings, Inc.'s share price. It is designed for a single trading day rather than longer holding periods.

Why people hold it

  • 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
  • RCAX Defiance built this as the first 2X long ETF on Red Cat Holdings, so amplified bullish exposure to one drone name takes a single ticker and no margin account.etfgi.com
  • The mandate is narrow and literal: two times RCAT's daily percentage change, before fees. Day to day, it has tracked that stated target closely.
  • Red Cat builds drone hardware and software for military, government and commercial users, so this is one concentrated name rather than a diluted drone basket.redcat.red

Worth knowing

  • 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.
  • RCAX Daily reset is the whole story. Hold past one session and compounding takes over, so multi-day results can diverge sharply from 2x RCAT's move, especially in choppy stretches.
  • At 1.30%, the fee sits above the category median and above 2x single-stock peers like TSMG (0.76%) and OKTG (0.75%).
  • Launched February 2026, it is still a small fund with a short record, and volume is moderate, so spreads and position size deserve a look before trading.

Full PANG profile⁠

Full RCAX profile⁠

PANG vs RCAX 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.

PANG vs RCAX Cost

Overpaying RCAX vs PANG

$8,713

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

  • PANG 0.76%

    $14,656

  • RCAX 1.30%

    $23,369

$10,000
30 years

Cost over time

  • PANG 0.76%
  • RCAX 1.30%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530RCAX $23,369PANG $14,656

Year by year

YearPANGRCAXOverpaying
10$1,353$2,263$910
20$5,142$8,393$3,251
30$14,656$23,369$8,713

Expense ratio

  • 0.76%PANG, cheaper
  • 1.30%RCAX
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

PANG 131st cheapest of 315 funds

RCAX 229th cheapest of 315 funds

PANG vs RCAX Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

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
RCAXAll RCAX payments⁠

No distribution history available.

PANG vs RCAX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
PANG 128.2%since Apr 2025RCAX No data
Return per unit of riskSharpe ratio, 3 years
PANG 0.90since Apr 2025RCAX No data
Worst fallMax drawdown, 5 years
PANG −62.4%since Mar 2025RCAX No data
Market sensitivityBeta, 5 years
PANG 3.32RCAX 0.73

Popular comparisons

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

    Expense ratio
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    Category
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