Which came closer to its stated multiple, PALU or PANG?

Over the window to Sep 30, 2026, PALU finished 11.8 points from what its multiple implies and PANG finished 12.1 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 Palo Alto Networks, 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 60% annualized and PANG’s at 60%, 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.

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PALU vs PANG: which held to its multiple?

Over the days both have traded, PALU finished 11.8 points from its stated multiple and PANG 12.1. Direxion Daily PANW Bull 2X ETF and Leverage Shares 2X Long PANW Daily ETF.

+13.9%

PALU returned, 3 months

+13.6%

PANG returned, 3 months

−11.8 pts

PALU from its stated multiple

−12.1 pts

PANG from its stated multiple

PALU · 3 months to Sep 30, 202611.8 pts short of its stated multiple

PALU returned +13.9% while 2 times PANW's move would have been +25.7%

PANG · 3 months to Sep 30, 202612.1 pts short of its stated multiple

PANG returned +13.6% while 2 times PANW's move would have been +25.7%

ETFIQ Decay Resistance Score · PALU scores higherDid it keep up with its own daily multiple, compounded day by day?

PALU 42.2

PANG 34.1

0.1, the lowest in this set99.9, the highest

A percentile among the 470 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

	Total return		Multiple would give		Difference
Window	PALU	PANG	PALU	PANG	PALU	PANG
1 month	+3.8%	+3.7%	+7.9%	+7.9%	−4.2 pts	−4.3 pts
3 months	+13.9%	+13.6%	+25.7%	+25.7%	−11.8 pts	−12.1 pts
6 months	+399.6%	+395.0%	not meaningful	not meaningful	not meaningful	not meaningful
1 year	+175.9%	+171.7%	+190.2%	+190.2%	−14.3 pts	−18.6 pts
Since launch PALU Mar 2025 · PANG Mar 2025	+191.9%	+192.5%	not meaningful	not meaningful	not meaningful	not meaningful

PALU and PANG over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

PALU

Direxion Daily PANW Bull 2X ETF · Aims to return twice the daily move of Palo Alto Networks (PANW)

PANG

Leverage Shares 2X Long PANW Daily ETF · Aims to return twice the daily move of Palo Alto Networks (PANW)

Issuer Direxion Leverage Shares

Sets out to return +2x +2x

Underlying asset PANW PANW

Segment company company

Fund returned, 3 months or since launch +13.9% +13.6%

Underlying returned, over that window +12.9% +12.9%

What the stated multiple implies, over that window +25.7% +25.7%

Difference from stated, over that window −11.8 pts −12.1 pts

Fund returned, 1 year or since launch +175.9% +171.7%

Difference from stated, over that window −14.3 pts −18.6 pts

Underlying volatility 60% 60%

Difference over the days both have traded −11.8 pts −12.1 pts

Expense ratio 1.08% 0.76%

Launched Mar 26, 2025 Mar 21, 2025

Net assets $41m $11m

PALU and PANG on the same fields, as of Sep 30, 2026. Source: ETFIQ.

PALU in plain words

Three months to Sep 30, 2026: PALU returned +13.9% where its own daily promise gave +16.9%, 3.0 points short. Read the multiple against the whole window instead and 2 times PANW's 12.9% implies +25.7%, which makes PALU look 11.8 points short. 8.8 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 60% 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 30, 2026: PANG returned +13.6% where its own daily promise gave +16.9%, 3.3 points short. Read the multiple against the whole window instead and 2 times PANW's 12.9% implies +25.7%, which makes PANG look 12.1 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 30, 2026, PALU finished 11.8 points from what its multiple implies and PANG finished 12.1 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 Palo Alto Networks, 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 60% annualized and PANG’s at 60%, 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

PALU vs PALD PANG vs PALD

PALU on its own →PANG on its own →How every figure is computed →Standards and sources →

Where these figures came from

PALU filings on SEC EDGAR ↗PALU prospectus with the expense ratio (SEC) ↗Direxion website ↗PANG filings on SEC EDGAR ↗PANG prospectus with the expense ratio (SEC) ↗Leverage Shares website ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, PALU against PANG, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/palu-vs-pang

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.