Data as of .
PALD vs PALU: which held to its multiple?
Over three months against its own daily promise, PALD finished 1.2 points over and PALU 2.9 points short.
ETFIQ Decay Resistance Score: PALU scores higher
Did it keep up with its own daily multiple, compounded day by day?
A percentile among the 121 inverse ETFs over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it · How it is computed
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| PALD | PALU | PALD | PALU | PALD | PALU | |
| 1 month | +13.3% | −30.3% | +14.6% | −29.1% | −1.3 pts | −1.2 pts |
| 3 months | −20.8% | +26.6% | −18.3% | +36.5% | −2.5 pts | −9.9 pts |
| 6 months | −55.4% | +222.3% | −98.0% | +196.0% | +42.6 pts | +26.3 pts |
| 1 year | −48.0% | +104.8% | −66.7% | +133.4% | +18.7 pts | −28.6 pts |
| Since launch | −53.5% | +107.3% | −78.8% | +157.5% | +25.3 pts | −50.2 pts |
| PALD Direxion Daily PANW Bear 1X ETF Aims to return 1 times the opposite of the daily move of PANW | PALU Direxion Daily PANW Bull 2X ETF Aims to return twice the daily move of PANW | |
|---|---|---|
| Issuer | Direxion | Direxion |
| Sets out to return | -1x | +2x |
| On | PANW | PANW |
| Segment | company | company |
| Fund returned, 3 months | −20.8% | +26.6% |
| Underlying returned, 3 months | +18.3% | +18.3% |
| What the stated multiple implies, 3 months | −18.3% | +36.5% |
| Difference from stated, 3 months | −2.5 pts | −9.9 pts |
| Fund returned, 1 year or since launch | −48.0% | +104.8% |
| Difference from stated, over that window | +18.7 pts | −28.6 pts |
| Underlying volatility | 57% | 57% |
| Difference over the days both have traded | no shared window | −9.9 pts |
| Expense ratio | not published | 1.08% |
| Launched | Mar 26, 2025 | Mar 26, 2025 |
PALD in plain words
Three months to Sep 11, 2026: PALD returned −20.8% where its own daily promise gave −22.0%, 1.2 points over. Read the multiple against the whole window instead and −1 times PANW's 18.3% implies −18.3%, which makes PALD look 2.5 points short. 3.7 of that is daily compounding, which happens to any −1 times fund over the same path, and the rest is the fund. PALD aims to return -1 times PANW's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not -1 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. PANW moved at 57% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
PALU in plain words
Three months to Sep 11, 2026: PALU returned +26.6% where its own daily promise gave +29.5%, 2.9 points short. Read the multiple against the whole window instead and +2 times PANW's 18.3% implies +36.5%, which makes PALU look 9.9 points short. 7.0 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. PALU aims to return +2 times PANW's move each day, then resets. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.
Questions people ask
- Which came closer to its stated multiple, PALD or PALU?
- Over the window to Sep 11, 2026, PALD finished 2.5 points from what its multiple implies and PALU finished 9.9 points from its own, so PALD came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are PALD and PALU levered on the same thing?
- Yes. Both are levered on PANW, PALD at -1 times and PALU at +2 times the daily move.
- Which one decays faster, PALD or PALU?
- Decay follows how much the underlying moves about. Over this window PALD’s moved at 57% annualized and PALU’s at 57%, so PALD has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold PALD or PALU for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, PALD against PALU, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/PALD-PALU Free to use with attribution; the underlying files are at Open data.