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PANG vs UNHG

Leverage Shares 2x Long PANW Daily ETF

PANGANasdaq

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

Expense ratio

PANG −0.01pt a year

PANG0.76%UNHG0.77%

Avg volume · 30D

UNHG 16.3×the volume

PANG44.6KUNHG726K

PANG vs UNHG Performance

Oct 31, 2025 – Oct 30, 2026

+91.6%PANG+11.9%UNHG

Oct 31, 2025 to Oct 30, 2026. PANG +91.6%. UNHG +11.9%. Use the arrow keys to read each point.−50%50%150%Oct 2025Apr 2026Oct 2026
Expense ratio
PANG 0.76%, better
UNHG 0.77%
Fund size
PANG $9M
UNHG $63M
1Y total return
PANG +91.6%, better
UNHG +11.9%
Holdings
PANG 4
UNHG 5
Avg volume (30D)
PANG 44.6K sh
UNHG 726K sh, better
NAV per share
PANG $31.31
UNHG $20.57
52W range

ETF.net Grade

PANG: Cost 70, Risk 74, Mission 94, Tradability 74, Holdings not scored, Durability 59. UNHG: Cost 60, Risk 83, Mission 90, Tradability 91, Holdings not scored, Durability 66.
Pillar letters and Scores for PANG, UNHG, with each pillar’s weight
PillarPANGUNHG
Cost30% weightA70HigherB60
Mission25% weightA94HigherA90
Risk15% weightA74A83Higher
Tradability15% weightA74A91Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB59B66Higher

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 UNHG 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 ›

UNHG ranks 2nd 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

UNHGALeverage Shares 2x Long UNH 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.

UNHG Two times UnitedHealth's daily move, reset every night: a managed-care insurer in a category stuffed with chip and AI names. UNHG got there first, and it charges 0.77%.

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.

UNHG The fund seeks daily investment results equal to twice the daily performance of UnitedHealth Group Incorporated 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
  • UNHG At 0.77%, the cheaper of the only two 2x UNH funds: Direxion's UNHU runs 0.97% net of a waiver through September 1, 2027. Both sit below the category's typical fee.
  • First to the 2x UNH trade, listed July 2025, months before Direxion's version arrived in March 2026. It trades actively for a single-stock leveraged fund.direxion.com
  • Exposure comes from total return swaps reset at each close, and day-to-day it has stayed close to its 2x target. One of the better-built funds in a crowded bull field.leverageshares.comsec.gov

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.
  • UNHG Daily reset means multi-day results depend on the path UNH takes, not just its direction. Choppy stretches can erode value even if the stock ends where it started.leverageshares.com
  • Swap-based exposure carries counterparty risk, and everything rides on one managed-care company's news, from earnings to policy headlines.leverageshares.com
  • Listed in 2025, so there is little history to judge it across a full market cycle.

Full PANG profile⁠

Full UNHG profile⁠

PANG vs UNHG 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 UNHG Cost

Overpaying UNHG vs PANG

$173

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

  • PANG 0.76%

    $14,656

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • PANG 0.76%
  • UNHG 0.77%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530UNHG $14,829PANG $14,656

Year by year

YearPANGUNHGOverpaying
10$1,353$1,371$18
20$5,142$5,205$63
30$14,656$14,829$173

Expense ratio

  • 0.76%PANG, cheaper
  • 0.77%UNHG
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

PANG 131st cheapest of 315 funds

UNHG 135th cheapest of 315 funds

PANG vs UNHG Dividends

Last 12 months to Oct 30, 2026
Last payment
PANG $1.30
UNHG $1.90
Ex-dividend
PANG Dec 30, 2025
UNHG Dec 30, 2025
Paid on
PANG Jan 2, 2026
UNHG Jan 2, 2026
Frequency
PANG Irregular
UNHG 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$22026YTD
UNHGIrregular · 1 paymentAll UNHG payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $1.90. Use the arrow keys to read each point.$0$22026YTD

PANG vs UNHG 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 2025UNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
PANG 0.90since Apr 2025UNHG 0.90since Aug 2025Same figure. Both funds show the same value, so neither comes out ahead.
Worst fallMax drawdown, 5 years
PANG −62.4%since Mar 2025UNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
PANG 3.32UNHG 5.53

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