AVL vs. PANW

Last updated Jun 4, 2026

AVL (Direxion Daily AVGO Bull 2X Shares) is Leveraged Equities fund actively managed by Direxion, while PANW (Palo Alto Networks, Inc.) is a stock. Over the past year, AVL returned 167.73% vs 42.26% for PANW. At a 0.33 correlation, their price movements are largely independent.

Performance

AVL vs. PANW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily AVGO Bull 2X Shares (AVL) and Palo Alto Networks, Inc. (PANW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVL achieves a 72.10% return, which is significantly higher than PANW's 52.24% return.

AVL

• 1D: -0.97%
• 1M: 29.70%
• YTD: 72.10%
• 6M: 38.64%
• 1Y: 167.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PANW

• 1D: -5.64%
• 1M: 51.95%
• YTD: 52.24%
• 6M: 44.83%
• 1Y: 42.26%
• 3Y*: 37.18%
• 5Y*: 36.33%
• 10Y*: 28.26%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVL vs. PANW - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AVL Direxion Daily AVGO Bull 2X Shares	72.10%	54.38%	39.90%
PANW Palo Alto Networks, Inc.	52.24%	1.23%	-1.48%

Correlation

The correlation between AVL and PANW is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (All Time) Calculated using the full available price history since Oct 11, 2024	0.33

Return for Risk

AVL vs. PANW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVL

AVL Risk / Return Rank: 53
AVL Sharpe Ratio Rank: 58
AVL Sortino Ratio Rank: 52
AVL Omega Ratio Rank: 50
AVL Calmar Ratio Rank: 63
AVL Martin Ratio Rank: 43

PANW

PANW Risk / Return Rank: 67
PANW Sharpe Ratio Rank: 73
PANW Sortino Ratio Rank: 67
PANW Omega Ratio Rank: 67
PANW Calmar Ratio Rank: 64
PANW Martin Ratio Rank: 64

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVL vs. PANW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AVGO Bull 2X Shares (AVL) and Palo Alto Networks, Inc. (PANW). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AVL	PANW	Difference
Sharpe ratio Return per unit of total volatility	1.97	1.11	+0.87
Sortino ratio Return per unit of downside risk	2.54	1.59	+0.95
Omega ratio Gain probability vs. loss probability	1.32	1.21	+0.11
Calmar ratio Return relative to maximum drawdown	3.14	1.18	+1.96
Martin ratio Return relative to average drawdown	7.02	2.68	+4.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVL vs. PANW - Sharpe Ratio Comparison

The current AVL Sharpe Ratio is 1.97, which is higher than the PANW Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of AVL and PANW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AVL	PANW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	1.11	+0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.88	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.18	0.72	+0.45

Drawdowns

AVL vs. PANW - Drawdown Comparison

The maximum AVL drawdown since its inception was -70.63%, which is greater than PANW's maximum drawdown of -47.98%. Use the drawdown chart below to compare losses from any high point for AVL and PANW.

Drawdown Indicators

	AVL	PANW	Difference
Max Drawdown Largest peak-to-trough decline	-70.63%	-47.98%	-22.65%
Max Drawdown (1Y) Largest decline over 1 year	-53.69%	-36.01%	-17.68%
Max Drawdown (3Y) Largest decline over 3 years	—	-36.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-36.01%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-47.98%	—
Current Drawdown Current decline from peak	-0.97%	-6.67%	+5.70%
Average Drawdown Average peak-to-trough decline	-23.38%	-14.70%	-8.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.00%	15.79%	+8.21%

Volatility

AVL vs. PANW - Volatility Comparison

Direxion Daily AVGO Bull 2X Shares (AVL) has a higher volatility of 23.46% compared to Palo Alto Networks, Inc. (PANW) at 16.94%. This indicates that AVL's price experiences larger fluctuations and is considered to be riskier than PANW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVL	PANW	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.46%	16.94%	+6.52%
Volatility (6M) Calculated over the trailing 6-month period	61.68%	31.67%	+30.01%
Volatility (1Y) Calculated over the trailing 1-year period	85.76%	38.39%	+47.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	105.25%	41.63%	+63.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	105.25%	38.57%	+66.68%

Dividends

AVL vs. PANW - Dividend Comparison

AVL's dividend yield for the trailing twelve months is around 17.16%, while PANW has not paid dividends to shareholders.

Position	TTM	2025	2024
AVL Direxion Daily AVGO Bull 2X Shares	17.16%	29.04%	0.22%
PANW Palo Alto Networks, Inc.	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVL and PANW in my portfolio?

AVL and PANW have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVL or PANW?

AVL has higher volatility (23.46%) compared to PANW (16.94%). In terms of maximum drawdown, AVL dropped -70.63% vs PANW's -47.98%.

Which has better risk-adjusted returns?

AVL currently has the higher Sharpe Ratio (1.97 vs 1.11), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.