PANG vs TSMX

PANGALeverage Shares 2x Long PANW Daily ETF

TSMXBDirexion Daily TSM Bull 2X 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.

TSMX Double-speed Taiwan Semiconductor, one trading day at a time. TSMX aims to deliver 200% of the stock's daily move, resets every night, and charges a fraction of what the only other 2x TSM bull fund does.

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.

TSMX The fund seeks daily investment results, before fees and expenses, equal to 200% of the performance of Taiwan Semiconductor Manufacturing Co Ltd common shares. It is designed for a single day and does not seek to provide that multiple over longer 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

• TSMX At 0.99% a year it undercuts the only other 2x TSM bull ETF (TSMU, at 2.45%), so less of each day's gross move disappears into the fee.
• Stays close to its stated 200%-of-daily-move target, one of the tighter implementations among leveraged single-stock funds.
• Actively traded for a leveraged single-stock fund, which matters when the whole design assumes same-day entries and exits.
• The leverage sits inside the fund wrapper: no margin account to open, no stock to borrow, and no exposure beyond the amount invested.direxion.com

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.

• TSMX The 200% target covers a single day. Hold longer and compounding takes over, so multi-day results can drift far from twice Taiwan Semiconductor's move.
• Cheap for this cohort, but 0.99% a year is heavy next to plain index funds, and it accrues whether the stock rises or falls.
• One company, doubled: no diversification cushion, so anything specific to Taiwan Semiconductor lands at twice the size. The fund itself only dates to 2024.

Full PANG profile⁠

Full TSMX profile⁠