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PANG vs SPOG

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Leverage Shares 2x Long SPOT Daily ETF

SPOGCNasdaq

Overlap

Expense ratio

SPOG −0.01pt a year

PANG0.76%SPOG0.75%

Avg volume · 30D

PANG 1.3×the volume

PANG44.6KSPOG35.5K

PANG vs SPOG Performance

Dec 31, 2025 – Oct 30, 2026

+183.4%PANG−22.7%SPOG

Dec 31, 2025 to Oct 30, 2026. PANG +183.4%. SPOG −22.7%. Use the arrow keys to read each point.100%300%Dec 2025Jun 2026Oct 2026
Expense ratio
PANG 0.76%
SPOG 0.75%, better
Fund size
PANG $9M
SPOG $4M
1Y total return
PANG +91.6%
SPOG No data
Holdings
PANG 4
SPOG 4
Avg volume (30D)
PANG 44.6K sh, better
SPOG 35.5K sh
NAV per share
PANG $31.31
SPOG $9.43
52W range

ETF.net Grade

PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59. SPOG: Cost 70, Risk 64, Mission 81, Tradability 53, Holdings not scored, Durability 47.
Pillar letters and Scores for PANG, SPOG, with each pillar’s weight
PillarPANGSPOG
Cost30% weightA70A70
Mission25% weightA94HigherA81
Risk15% weightA74HigherB64
Tradability15% weightA74HigherC53
Holdings10% weightNot scoredNot scored
Durability5% weightB59HigherC47

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 SPOG 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 SPOG 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 123CSOFCCorgi SOFI 2x Daily ETFScore 40
  7. Rank 123CSPOGLeverage Shares 2x Long SPOT Daily ETFScore 40
  8. Rank 123CTELGLeverage Shares 2X Long TEL Daily ETFScore 40

Our read on each fund

ETF.net Research

PANGALeverage Shares 2x Long PANW Daily ETF

SPOGCLeverage Shares 2x Long SPOT Daily 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.

SPOG Two-times daily Spotify in a single ticker. The leveraged single-stock aisle is stacked with chipmakers and megacap tech; SPOG points that same daily-reset machinery at a music-streaming stock, for 0.75% a year.

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.

SPOG The fund seeks daily investment results, before fees and expenses, equal to 200% of the daily performance of Spotify Technology S.A. stock.

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
  • SPOG Delivers 200% of Spotify's daily move in an ordinary 1940 Act ETF. No margin account, no options chain, no borrow to arrange.leverageshares.com
  • At 0.75% a year it comes in under the typical 2x single-stock fund, and matches Leverage Shares stablemates like ASMG and UNHG on price.
  • Fills a gap on a crowded shelf: the biggest 2x single-stock funds track chips and megacap tech, not a subscription-streaming name like Spotify.

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.
  • SPOG The 2x target resets daily. Hold past a day and your result follows the compounding path, so choppy stretches can drag while sustained trends amplify.
  • One stock, doubled. Earnings night, a subscriber surprise, or a management shakeup lands twice as hard here as it does in SPOT shares.
  • Launched in November 2025, so it is one of the newer tickets in this category, with a shorter trading record than the long-running megacap leveraged funds.

Full PANG profile⁠

Full SPOG profile⁠

PANG vs SPOG 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 SPOG Cost

Overpaying PANG vs SPOG

$174

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

  • PANG 0.76%

    $14,656

  • SPOG 0.75%

    $14,482

$10,000
30 years

Cost over time

  • PANG 0.76%
  • SPOG 0.75%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530PANG $14,656SPOG $14,482

Year by year

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

Expense ratio

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

SPOG 87th cheapest of 315 funds

PANG 131st cheapest of 315 funds

PANG vs SPOG Dividends

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

No distribution history available.

PANG vs SPOG 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 2025SPOG No data
Return per unit of riskSharpe ratio, 3 years
PANG 0.90since Apr 2025SPOG No data
Worst fallMax drawdown, 5 years
PANG −62.4%since Mar 2025SPOG No data
Market sensitivityBeta, 5 years
PANG 3.32SPOG 0.06

Popular comparisons

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    Expense ratio
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