# PALU (Direxion Daily PANW Bull 2X ETF)

Direxion · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: PALU returned +26.6% where its own daily promise gave +29.5%, 2.9 points short.

## Key facts

- PALU, what PANW did: +18.3%, as of Sep 11, 2026.
- PALU, what +2 times a day gives: +29.5%, as of Sep 11, 2026.
- PALU, what the fund returned: +26.6%, as of Sep 11, 2026.
- PALU, the fund itself cost: −2.9 pts, as of Sep 11, 2026.
- PALU, net assets: $12m (source, as filed for Apr 30, 2026).
- PALU, expense ratio: 1.08% (485BPOS XBRL, Feb 26, 2026).

## PALU over each window to Sep 11, 2026

| Window | Fund | PANW | +2x the move | Difference | PANW moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −30.3% | −14.6% | −29.1% | −1.2 pts | 65% |
| 3 months | +26.6% | +18.3% | +36.5% | −9.9 pts | 57% |
| 6 months | +222.3% | +98.0% | +196.0% | +26.3 pts | 55% |
| 1 year | +104.8% | +66.7% | +133.4% | −28.6 pts | 45% |
| Since launch | +107.3% | +78.8% | +157.5% | −50.2 pts | 44% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of PANW, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.46 times, against +2 stated | ETFIQ |
| Underlying | PANW | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $12m | source, as filed for Apr 30, 2026 |
| Expense ratio | 1.08% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Mar 26, 2025 | ETFIQ |
| Underlying volatility over the window | 57% annualized | ETFIQ |

## Questions

### Did PALU return +2 times PANW?

Over the window to Sep 11, 2026, PANW moved +18.3% and PALU returned +26.6%. 2 times that move is +36.5%, so the fund came out 9.9 points short of it.

### Why does PALU not return +2 times over a year?

Because it resets daily. PALU aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.

### Which +2x PANW ETF tracked its stated multiple most closely?

2 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 2 times the underlying's move. ETFIQ does not rate funds; the order is the arithmetic.


## Cite this page

ETFIQ, PALU, data as of Sep 11, 2026. https://etfiq.com/funds/PALU
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

HTML: https://etfiq.com/funds/PALU  ·  JSON: https://etfiq.com/funds/PALU.json