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PANG vs SMCX

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Daily Target 2X Long SMCI ETF

SMCXCNasdaq

Overlap

Expense ratio

PANG −0.56pt a year

PANG0.76%SMCX1.32%

Avg volume · 30D

SMCX 133.1×the volume

PANG44.6KSMCX5.94M

PANG vs SMCX Performance

Oct 31, 2025 – Oct 30, 2026

+91.6%PANG−57.8%SMCX

Oct 31, 2025 to Oct 30, 2026. PANG +91.6%. SMCX −57.8%. Use the arrow keys to read each point.0%50%150%Oct 2025Apr 2026Oct 2026
Expense ratio
PANG 0.76%, better
SMCX 1.32%
Fund size
PANG $9M
SMCX $139M
1Y total return
PANG +91.6%, better
SMCX −57.8%
Holdings
PANG 4
SMCX 11
Avg volume (30D)
PANG 44.6K sh
SMCX 5.94M sh, better
NAV per share
PANG $31.31
SMCX $8.19
52W range

ETF.net Grade

PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59. SMCX: Cost 25, Risk 47, Mission not scored, Tradability 92, Holdings not scored, Durability 82.
Pillar letters and Scores for PANG, SMCX, with each pillar’s weight
PillarPANGSMCX
Cost30% weightA70HigherD25
Mission25% weightA94Not scored
Risk15% weightA74HigherC47
Tradability15% weightA74A92Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB59A82Higher

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 SMCX 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 SMCX 89th 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 89CSHPUDirexion Daily SHOP Bull 2X ETFScore 49
  7. Rank 89CSMCXDaily Target 2X Long SMCI ETFScore 49
  8. Rank 92CLLYXDaily Target 2X Long LLY ETFScore 48

Our read on each fund

ETF.net Research

PANGALeverage Shares 2x Long PANW Daily ETF

SMCXCDaily Target 2X Long SMCI 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.

SMCX Two times Super Micro's daily move, bought like any stock. The leverage resets every night, which makes SMCX a trading tool rather than a hold-and-forget position, and it carries a 1.32% expense ratio.

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.

SMCX The fund seeks daily leveraged investment results equal to 200% of the daily percentage change in Super Micro Computer, Inc.'s share price.

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
  • SMCX The mandate is blunt: 200% of SMCI's daily percentage change. No discretion, no basket, no mystery about what moves it.
  • Very actively traded, so getting in and out usually costs little in spread, which matters when the holding period is measured in days.
  • Running since August 2024, and it stands as one of the stronger implementations among 2x single-stock bull funds.

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.
  • SMCX At 1.32% it sits above the typical single-stock leveraged fund, and above SMCC (0.45%), the other 2x fund on the same stock.
  • Leverage resets daily. Hold through a choppy stretch and the result can trail twice SMCI's move over that span, sometimes by a lot.
  • Everything rides on one company, doubled. A single earnings print or supply headline hits this fund twice as hard as the stock itself.

Full PANG profile⁠

Full SMCX profile⁠

PANG vs SMCX 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 SMCX Cost

Overpaying SMCX vs PANG

$9,012

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

  • PANG 0.76%

    $14,656

  • SMCX 1.32%

    $23,668

$10,000
30 years

Cost over time

  • PANG 0.76%
  • SMCX 1.32%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530SMCX $23,668PANG $14,656

Year by year

YearPANGSMCXOverpaying
10$1,353$2,296$943
20$5,142$8,507$3,365
30$14,656$23,668$9,012

Expense ratio

  • 0.76%PANG, cheaper
  • 1.32%SMCX
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

PANG 131st cheapest of 315 funds

SMCX 243rd cheapest of 315 funds

PANG vs SMCX Dividends

Last 12 months to Oct 30, 2026
Last payment
PANG $1.30
SMCX $1.00
Ex-dividend
PANG Dec 30, 2025
SMCX Dec 30, 2025
Paid on
PANG Jan 2, 2026
SMCX Dec 31, 2025
Frequency
PANG Irregular
SMCX Irregular

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
SMCXIrregular · 1 paymentAll SMCX payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $1.00. Use the arrow keys to read each point.$0$12026YTD

PANG vs SMCX 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 2025SMCX 174.8%since Sep 2024
Return per unit of riskSharpe ratio, 3 years
PANG 0.90since Apr 2025SMCX 0.20since Sep 2024
Worst fallMax drawdown, 5 years
PANG −62.4%since Mar 2025SMCX −96.8%since Aug 2024
Market sensitivityBeta, 5 years
PANG 3.32SMCX 7.80

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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