Data as of .
PALU vs PANG: which held to its multiple?
Over the days both have traded, PALU finished 9.9 points from its stated multiple and PANG 11.3.
ETFIQ Decay Resistance Score: PALU scores higher
Did it keep up with its own daily multiple, compounded day by day?
A percentile among the 391 leveraged ETFs, long, 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 | |||
|---|---|---|---|---|---|---|
| PALU | PANG | PALU | PANG | PALU | PANG | |
| 1 month | −30.3% | −30.6% | −29.1% | −29.1% | −1.2 pts | −1.4 pts |
| 3 months | +26.6% | +25.2% | +36.5% | +36.5% | −9.9 pts | −11.3 pts |
| 6 months | +222.3% | +218.3% | +196.0% | +196.0% | +26.3 pts | +22.3 pts |
| 1 year | +104.8% | +100.4% | +133.4% | +133.4% | −28.6 pts | −33.1 pts |
| Since launch | +107.3% | +106.7% | +157.5% | +162.7% | −50.2 pts | −56.0 pts |
| PALU Direxion Daily PANW Bull 2X ETF Aims to return twice the daily move of PANW | PANG Leverage Shares 2X Long PANW Daily ETF Aims to return twice the daily move of PANW | |
|---|---|---|
| Issuer | Direxion | Leverage Shares |
| Sets out to return | +2x | +2x |
| On | PANW | PANW |
| Segment | company | company |
| Fund returned, 3 months | +26.6% | +25.2% |
| Underlying returned, 3 months | +18.3% | +18.3% |
| What the stated multiple implies, 3 months | +36.5% | +36.5% |
| Difference from stated, 3 months | −9.9 pts | −11.3 pts |
| Fund returned, 1 year or since launch | +104.8% | +100.4% |
| Difference from stated, over that window | −28.6 pts | −33.1 pts |
| Underlying volatility | 57% | 57% |
| Difference over the days both have traded | −9.9 pts | −11.3 pts |
| Expense ratio | 1.08% | 0.76% |
| Launched | Mar 26, 2025 | Mar 21, 2025 |
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 one day it does that. 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. 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.
PANG in plain words
Three months to Sep 11, 2026: PANG returned +25.2% where its own daily promise gave +29.5%, 4.3 points short. Read the multiple against the whole window instead and +2 times PANW's 18.3% implies +36.5%, which makes PANG look 11.3 points short. PANG aims to return +2 times PANW's move each day, then resets.
Questions people ask
- Which came closer to its stated multiple, PALU or PANG?
- Over the window to Sep 11, 2026, PALU finished 9.9 points from what its multiple implies and PANG finished 11.3 points from its own, so PALU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are PALU and PANG levered on the same thing?
- Yes. Both are levered on PANW, PALU at +2 times and PANG at +2 times the daily move.
- Which one decays faster, PALU or PANG?
- Decay follows how much the underlying moves about. Over this window PALU’s moved at 57% annualized and PANG’s at 57%, so PALU has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold PALU or PANG 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.
- Which is cheaper, PALU or PANG?
- PALU charges 1.08% a year and PANG charges 0.76%, so PANG is cheaper. Fees come from each fund's prospectus.
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, PALU against PANG, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/PALU-PANG Free to use with attribution; the underlying files are at Open data.