FCXG vs. PANG

Last updated Aug 1, 2026

FCXG (Leverage Shares 2X Long FCX Daily ETF) and PANG (Leverage Shares 2X Long PANW Daily ETF) are both Leveraged Equities funds from Leverage Shares. FCXG is passively managed, while PANG is actively managed. Their 0.07 correlation means their historical movements had little consistent relationship. Both charge a 0.75% expense ratio.

Performance

FCXG vs. PANG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long FCX Daily ETF (FCXG) and Leverage Shares 2X Long PANW Daily ETF (PANG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FCXG

• 1D: -2.84%
• 1M: 3.11%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

PANG

• 1D: 3.76%
• 1M: -11.68%
• 6M: 192.74%
• YTD: 164.66%
• 1Y: 175.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 81.85%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FCXG Leverage Shares 2X Long FCX Daily ETF	$223.64K	$203.00K	$533.52K
PANG Leverage Shares 2X Long PANW Daily ETF	$757.71K	$1.04M	$1.53M

FCXG vs. PANG - Yearly Performance Comparison

	2026 (YTD)
FCXG Leverage Shares 2X Long FCX Daily ETF	-14.53%
PANG Leverage Shares 2X Long PANW Daily ETF	304.83%

Correlation

The correlation between FCXG and PANG is 0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 19, 2026	0.07

Return for Risk

FCXG vs. PANG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FCXG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

PANG

PANG Risk / Return Rank: 74
PANG Sharpe Ratio Rank: 88
PANG Sortino Ratio Rank: 78
PANG Omega Ratio Rank: 77
PANG Calmar Ratio Rank: 78
PANG Martin Ratio Rank: 50

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FCXG vs. PANG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long FCX Daily ETF (FCXG) and Leverage Shares 2X Long PANW Daily ETF (PANG). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FCXG	PANG	Difference
Sharpe ratio: Return per unit of total volatility	—	2.16	—
Sortino ratio: Return per unit of downside risk	—	2.56	—
Omega ratio: Gain probability vs. loss probability	—	1.32	—
Calmar ratio: Return relative to maximum drawdown	—	2.83	—
Martin ratio: Return relative to average drawdown	—	5.85	—

Drawdowns

FCXG vs. PANG - Drawdown Comparison

The maximum FCXG drawdown since its inception was -44.55%, smaller than the maximum PANG drawdown of -62.38%. Use the drawdown chart below to compare losses from any high point for FCXG and PANG.

Drawdown Indicators

	FCXG	PANG	Difference
Max Drawdown Largest peak-to-trough decline	-44.55%	-62.38%	+17.83%
Max Drawdown (1Y) Largest decline over 1 year	—	-62.38%	—
Current Drawdown Current decline from peak	-31.19%	-16.20%	-14.99%
Average Drawdown Average peak-to-trough decline	-23.43%	-21.53%	-1.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	30.16%	—

Volatility

Volatility by Period

	FCXG	PANG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	29.34%	—
Volatility (6M) Calculated over the trailing 6-month period	—	71.51%	—
Volatility (1Y) Calculated over the trailing 1-year period	107.68%	82.52%	+25.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	107.68%	83.32%	+24.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	107.68%	83.32%	+24.36%

FCXG vs. PANG - Expense Ratio Comparison

Both FCXG and PANG have an expense ratio of 0.75%.

Dividends

FCXG vs. PANG - Dividend Comparison

FCXG has not paid dividends to shareholders, while PANG's dividend yield for the trailing twelve months is around 4.43%.

Position	TTM	2025
FCXG Leverage Shares 2X Long FCX Daily ETF	0.00%	0.00%
PANG Leverage Shares 2X Long PANW Daily ETF	4.43%	11.71%

Frequently Asked Questions

Can I hold both FCXG and PANG in my portfolio?

FCXG and PANG have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FCXG or PANG?

Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FCXG or PANG?

FCXG and PANG have the same expense ratio: 0.75% per year.

Which ETF pays a higher dividend yield, FCXG or PANG?

PANG has the higher dividend yield at 4.43%, compared with 0.00% for FCXG.