PANG vs. PANW
PANG (Leverage Shares 2X Long PANW Daily ETF) is Leveraged Equities fund actively managed by Leverage Shares, while PANW (Palo Alto Networks, Inc.) is a stock. Over the past year, PANG returned 153.78% vs 84.15% for PANW. With a 1.00 correlation, they move nearly in lockstep.
Performance
PANG vs. PANW - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PANG achieves a 204.89% return, which is significantly higher than PANW's 92.19% return.
PANG
- 1D
- 0.73%
- 1M
- 49.92%
- 6M
- 187.85%
- YTD
- 204.89%
- 1Y
- 153.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PANW
- 1D
- 0.32%
- 1M
- 24.42%
- 6M
- 85.42%
- YTD
- 92.19%
- 1Y
- 84.15%
- 3Y*
- 43.17%
- 5Y*
- 40.48%
- 10Y*
- 32.89%
PANG vs. PANW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PANG Leverage Shares 2X Long PANW Daily ETF | 204.89% | -14.75% |
PANW Palo Alto Networks, Inc. | 92.19% | 0.10% |
Correlation
The correlation between PANG and PANW is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2025 | 1.00 |
The correlation between PANG and PANW has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PANG vs. PANW — Risk / Return Rank
PANG
PANW
PANG vs. PANW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long PANW Daily ETF (PANG) 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.
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 | PANW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.34 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 2.35 | +0.13 |
| Martin ratioReturn relative to average drawdown | 4.98 | 5.33 | -0.36 |
Loading charts...
Drawdowns
PANG vs. PANW - Drawdown Comparison
The maximum PANG drawdown since its inception was -62.38%, which is greater than PANW's maximum drawdown of -47.98%. Use the drawdown chart below to compare losses from any high point for PANG and PANW.
Loading charts...
Drawdown Indicators
| PANG | PANW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.38% | -47.98% | -14.40% |
Max Drawdown (1Y)Largest decline over 1 year | -62.38% | -36.01% | -26.37% |
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 DrawdownCurrent decline from peak | -3.46% | -0.98% | -2.48% |
Average DrawdownAverage peak-to-trough decline | -21.77% | -14.62% | -7.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.04% | 15.83% | +15.21% |
Volatility
PANG vs. PANW - Volatility Comparison
Leverage Shares 2X Long PANW Daily ETF (PANG) has a higher volatility of 32.90% compared to Palo Alto Networks, Inc. (PANW) at 16.59%. This indicates that PANG'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.
Loading charts...
Volatility by Period
| PANG | PANW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 32.90% | 16.59% | +16.31% |
Volatility (6M)Calculated over the trailing 6-month period | 71.08% | 35.45% | +35.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 83.00% | 41.32% | +41.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.82% | 42.34% | +41.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 83.82% | 38.89% | +44.93% |
Dividends
PANG vs. PANW - Dividend Comparison
PANG's dividend yield for the trailing twelve months is around 3.84%, while PANW has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
PANG Leverage Shares 2X Long PANW Daily ETF | 3.84% | 11.71% |
PANW Palo Alto Networks, Inc. | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 1.00, PANG and PANW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
PANG has higher volatility (32.90%) compared to PANW (16.59%). In terms of maximum drawdown, PANG dropped -62.38% vs PANW's -47.98%.
PANW currently has the higher Sharpe Ratio (2.05 vs 1.86), 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.
Find the right allocation for PANG and PANW
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer