PANG vs. AMUU

Last updated Jul 18, 2026

PANG (Leverage Shares 2X Long PANW Daily ETF) and AMUU (Direxion Daily AMD Bull 2X Shares) are both Leveraged Equities funds. Both are actively managed. Over the past year, PANG returned 149.41% vs 446.05% for AMUU. At a 0.17 correlation, their price movements are largely independent. PANG charges 0.75%/yr vs 0.97%/yr for AMUU.

Performance

PANG vs. AMUU - Performance Comparison

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

Returns By Period

In the year-to-date period, PANG achieves a 211.77% return, which is significantly lower than AMUU's 278.08% return.

PANG

• 1D: 2.73%
• 1M: 55.80%
• 6M: 204.53%
• YTD: 211.77%
• 1Y: 149.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AMUU

• 1D: -1.86%
• 1M: -10.95%
• 6M: 227.37%
• YTD: 278.08%
• 1Y: 446.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PANG vs. AMUU - Yearly Performance Comparison

	2026 (YTD)	2025
PANG Leverage Shares 2X Long PANW Daily ETF	211.77%	-14.75%
AMUU Direxion Daily AMD Bull 2X Shares	278.08%	173.38%

Correlation

The correlation between PANG and AMUU is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (All Time) Calculated using the full available price history since Mar 21, 2025	0.17

Return for Risk

PANG vs. AMUU — Risk / Return Rank

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

PANG

PANG Risk / Return Rank: 62
PANG Sharpe Ratio Rank: 76
PANG Sortino Ratio Rank: 66
PANG Omega Ratio Rank: 65
PANG Calmar Ratio Rank: 65
PANG Martin Ratio Rank: 40

AMUU

AMUU Risk / Return Rank: 91
AMUU Sharpe Ratio Rank: 96
AMUU Sortino Ratio Rank: 88
AMUU Omega Ratio Rank: 86
AMUU Calmar Ratio Rank: 97
AMUU Martin Ratio Rank: 90

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.

PANG vs. AMUU - Risk-Adjusted Trends Comparison

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

	PANG	AMUU	Difference
Sharpe ratio: Return per unit of total volatility	1.81	3.27	-1.46
Sortino ratio: Return per unit of downside risk	2.29	3.26	-0.96
Omega ratio: Gain probability vs. loss probability	1.30	1.41	-0.11
Calmar ratio: Return relative to maximum drawdown	2.41	7.99	-5.58
Martin ratio: Return relative to average drawdown	4.83	15.37	-10.53

PANG vs. AMUU - Sharpe Ratio Comparison

The current PANG Sharpe Ratio is 1.81, which is lower than the AMUU Sharpe Ratio of 3.27. The chart below compares the historical Sharpe Ratios of PANG and AMUU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PANG vs. AMUU - Drawdown Comparison

The maximum PANG drawdown since its inception was -62.38%, which is greater than AMUU's maximum drawdown of -56.47%. Use the drawdown chart below to compare losses from any high point for PANG and AMUU.

Drawdown Indicators

	PANG	AMUU	Difference
Max Drawdown Largest peak-to-trough decline	-62.38%	-56.47%	-5.91%
Max Drawdown (1Y) Largest decline over 1 year	-62.38%	-56.31%	-6.07%
Current Drawdown Current decline from peak	-1.28%	-29.10%	+27.82%
Average Drawdown Average peak-to-trough decline	-21.65%	-22.11%	+0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.04%	29.22%	+1.82%

Volatility

PANG vs. AMUU - Volatility Comparison

The current volatility for Leverage Shares 2X Long PANW Daily ETF (PANG) is 32.54%, while Direxion Daily AMD Bull 2X Shares (AMUU) has a volatility of 40.44%. This indicates that PANG experiences smaller price fluctuations and is considered to be less risky than AMUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PANG	AMUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.54%	40.44%	-7.90%
Volatility (6M) Calculated over the trailing 6-month period	71.10%	106.59%	-35.49%
Volatility (1Y) Calculated over the trailing 1-year period	83.03%	137.38%	-54.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.59%	133.82%	-50.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.59%	133.82%	-50.23%

PANG vs. AMUU - Expense Ratio Comparison

PANG has a 0.75% expense ratio, which is lower than AMUU's 0.97% expense ratio.

Dividends

PANG vs. AMUU - Dividend Comparison

PANG's dividend yield for the trailing twelve months is around 3.76%, less than AMUU's 3.98% yield.

Position	TTM	2025
AMUU Direxion Daily AMD Bull 2X Shares	3.98%	13.58%
PANG Leverage Shares 2X Long PANW Daily ETF	3.76%	11.71%

Frequently Asked Questions

Can I hold both PANG and AMUU in my portfolio?

PANG and AMUU have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PANG or AMUU?

AMUU has higher volatility (40.44%) compared to PANG (32.54%). In terms of maximum drawdown, PANG dropped -62.38% vs AMUU's -56.47%.

Which ETF is better, PANG or AMUU?

On 1-year performance, AMUU leads with 446.05% vs 149.41% for PANG. On fees, PANG is cheaper at 0.75% per year. On volatility, PANG has been the lower-risk option at 32.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PANG or AMUU?

Over the 1-year period, AMUU has performed better with a 446.05% return vs 149.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PANG or AMUU?

PANG is cheaper with a 0.75% expense ratio, compared with 0.97% for AMUU.

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

AMUU has the higher dividend yield at 3.98%, compared with 3.76% for PANG.

What is the main difference between PANG and AMUU?

They also come from different issuers: Leverage Shares and Direxion. Their fees differ too: 0.75% for PANG and 0.97% for AMUU.

Which has better risk-adjusted returns?

AMUU currently has the higher Sharpe Ratio (3.27 vs 1.81), 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.