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PANG vs TSMG

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

Overlap

8.4%by weight

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

PANG0.76%TSMG0.76%

Avg volume · 30D

TSMG 1.5×the volume

PANG44.6KTSMG69K

PANG vs TSMG Performance

Oct 31, 2025 – Oct 30, 2026

+91.6%PANG+40.8%TSMG

Oct 31, 2025 to Oct 30, 2026. PANG +91.6%. TSMG +40.8%. Use the arrow keys to read each point.−50%0%150%Oct 2025Apr 2026Oct 2026
Expense ratio
PANG 0.76%
TSMG 0.76%
Fund size
PANG $9M
TSMG $28M
1Y total return
PANG +91.6%, better
TSMG +40.8%
Holdings
PANG 4
TSMG 5
Avg volume (30D)
PANG 44.6K sh
TSMG 69K sh, better
NAV per share
PANG $31.31
TSMG $33.77
52W range

ETF.net Grade

PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59. TSMG: Cost 70, Risk 84, Mission 79, Tradability 74, Holdings not scored, Durability 67.
Pillar letters and Scores for PANG, TSMG, with each pillar’s weight
PillarPANGTSMG
Cost30% weightA70A70
Mission25% weightA94HigherA79
Risk15% weightA74A84Higher
Tradability15% weightA74A74
Holdings10% weightNot scoredNot scored
Durability5% weightB59B67Higher

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 TSMG 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 ›

TSMG ranks 1st and PANG 3rd 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

Our read on each fund

ETF.net Research

PANGALeverage Shares 2x Long PANW Daily ETF

TSMGALeverage Shares 2x Long TSM 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.

TSMG Two times TSM, one day at a time. TSMG aims for 200% of Taiwan Semiconductor's daily move, no margin account required, at 0.75% a year, below what most leveraged single-stock funds charge.

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.

TSMG The fund seeks daily investment results equal to 200% of the daily performance of Taiwan Semiconductor Manufacturing Company Ltd stock, before fees and expenses.

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
  • TSMG Charges 0.75% a year, undercutting the 0.96% on Direxion's 2x single-stock funds such as AAPU and GGLL.leverageshares.com
  • The milder gear on the leveraged shelf: it targets double TSM's daily move, not triple.leverageshares.com
  • Leverage arrives inside a regular 1940 Act ETF. No margin agreement, no lender, and your exposure is capped at what you put in.leverageshares.com
  • Hits its stated daily target tightly, and rates among the stronger builds in a crowded field of 2x and 3x single-stock 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.
  • TSMG The leverage resets every day. Hold longer and compounding takes over, so multi-day results can drift well away from twice TSM's move, especially in choppy markets.leverageshares.com
  • One stock, one industry. Everything rides on Taiwan Semiconductor, doubled, so company-specific news lands twice as hard.
  • Young and small: launched in January 2025, and it sits among the smaller, less heavily traded names on the leveraged shelf, which can widen spreads.

Full PANG profile⁠

Full TSMG profile⁠

PANG vs TSMG Holdings

How PANG and TSMG differ

Overlap by weight

8.4%

Shared holdings make up 12.4% of TSMG and 8.4% of PANG.

Level by level

  • Holdings1 in both8.4%
  • Asset classEquity100%
  • Countryby domicile100%

Sector

No Sector split for PANG and TSMG.

Country, concentration and asset class

Country by domicile

Country weights in PANG and TSMG, widest gap first
CountryMore in PANGMore in TSMG
United StatesSame weight

Concentration

Weight in the 10 largest Holdings

  • PANG208.4%
  • TSMG212.4%

Securities held

  • PANG1
  • TSMG1

Asset class

PANG
Equity
TSMG
Equity

Holdings

  • Only in PANG0
  • In both1
  • Only in TSMG0

Only in PANG

0 securities, 0.0% of PANG by weight

Only in TSMG

0 securities, 0.0% of TSMG by weight

Weight gaps

All 1 Holdings in both funds, largest gap first.

Holding weights in PANG and TSMG, widest gap first
HoldingMore in PANGMore in TSMG
First American Treasury Obligations Fund 01/01/2040TSMG +3.98 points

All 4 PANG holdings⁠All 5 TSMG 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 TSMG Cost

Same expense ratio

$14,656

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

  • PANG 0.76%

    $14,656

  • TSMG 0.76%

    $14,656

$10,000
30 years

Cost over time

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

Year by year

YearPANGTSMG
10$1,353$1,353
20$5,142$5,142
30$14,656$14,656

Expense ratio

  • 0.76%PANG
  • 0.76%TSMG
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

PANG 131st cheapest of 315 funds

TSMG 131st cheapest of 315 funds

PANG vs TSMG Dividends

Last 12 months to Oct 30, 2026
Last payment
PANG $1.30
TSMG $2.73
Ex-dividend
PANG Dec 30, 2025
TSMG Dec 30, 2025
Paid on
PANG Jan 2, 2026
TSMG Jan 2, 2026
Frequency
PANG Irregular
TSMG 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$2.502026YTD
TSMGIrregular · 1 paymentAll TSMG payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $2.73. Use the arrow keys to read each point.$0$2.502026YTD

PANG vs TSMG 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 2025TSMG 77.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
PANG 0.90since Apr 2025TSMG 0.97since Feb 2025
Worst fallMax drawdown, 5 years
PANG −62.4%since Mar 2025TSMG −63.7%since Jan 2025
Market sensitivityBeta, 5 years
PANG 3.32TSMG 3.81

Popular comparisons

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

    Expense ratio
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    Category
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  • TSMGAvsUNHGA

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