PANG vs. RTXG

Last updated Jul 18, 2026

PANG (Leverage Shares 2X Long PANW Daily ETF) and RTXG (Leverage Shares 2X Long RTX Daily ETF) are both Leveraged Equities funds from Leverage Shares. Both are actively managed. Over the past year, PANG returned 149.41% vs 40.31% for RTXG. At a 0.01 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.

Performance

PANG vs. RTXG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long PANW Daily ETF (PANG) and Leverage Shares 2X Long RTX Daily ETF (RTXG). 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 higher than RTXG's 2.02% return.

PANG

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

RTXG

• 1D: -0.64%
• 1M: -0.16%
• 6M: -15.34%
• YTD: 2.02%
• 1Y: 40.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PANG vs. RTXG - Yearly Performance Comparison

	2026 (YTD)	2025
PANG Leverage Shares 2X Long PANW Daily ETF	211.77%	-22.56%
RTXG Leverage Shares 2X Long RTX Daily ETF	2.02%	60.90%

Correlation

The correlation between PANG and RTXG is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.02
Correlation (All Time) Calculated using the full available price history since Jun 6, 2025	0.01

Return for Risk

PANG vs. RTXG — 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

RTXG

RTXG Risk / Return Rank: 29
RTXG Sharpe Ratio Rank: 28
RTXG Sortino Ratio Rank: 33
RTXG Omega Ratio Rank: 31
RTXG Calmar Ratio Rank: 28
RTXG Martin Ratio Rank: 25

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. RTXG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long PANW Daily ETF (PANG) and Leverage Shares 2X Long RTX Daily ETF (RTXG). 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	RTXG	Difference
Sharpe ratio: Return per unit of total volatility	1.81	0.80	+1.01
Sortino ratio: Return per unit of downside risk	2.29	1.43	+0.86
Omega ratio: Gain probability vs. loss probability	1.30	1.17	+0.12
Calmar ratio: Return relative to maximum drawdown	2.41	1.08	+1.33
Martin ratio: Return relative to average drawdown	4.83	2.52	+2.31

PANG vs. RTXG - Sharpe Ratio Comparison

The current PANG Sharpe Ratio is 1.81, which is higher than the RTXG Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of PANG and RTXG, 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. RTXG - Drawdown Comparison

The maximum PANG drawdown since its inception was -62.38%, which is greater than RTXG's maximum drawdown of -37.49%. Use the drawdown chart below to compare losses from any high point for PANG and RTXG.

Drawdown Indicators

	PANG	RTXG	Difference
Max Drawdown Largest peak-to-trough decline	-62.38%	-37.49%	-24.89%
Max Drawdown (1Y) Largest decline over 1 year	-62.38%	-37.49%	-24.89%
Current Drawdown Current decline from peak	-1.28%	-22.01%	+20.73%
Average Drawdown Average peak-to-trough decline	-21.65%	-10.37%	-11.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.04%	16.02%	+15.02%

Volatility

PANG vs. RTXG - Volatility Comparison

Leverage Shares 2X Long PANW Daily ETF (PANG) has a higher volatility of 32.54% compared to Leverage Shares 2X Long RTX Daily ETF (RTXG) at 16.45%. This indicates that PANG's price experiences larger fluctuations and is considered to be riskier than RTXG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PANG	RTXG	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.54%	16.45%	+16.09%
Volatility (6M) Calculated over the trailing 6-month period	71.10%	38.66%	+32.44%
Volatility (1Y) Calculated over the trailing 1-year period	83.03%	50.55%	+32.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.59%	49.84%	+33.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.59%	49.84%	+33.75%

PANG vs. RTXG - Expense Ratio Comparison

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

Dividends

PANG vs. RTXG - Dividend Comparison

PANG's dividend yield for the trailing twelve months is around 3.76%, less than RTXG's 6.24% yield.

Position	TTM	2025
PANG Leverage Shares 2X Long PANW Daily ETF	3.76%	11.71%
RTXG Leverage Shares 2X Long RTX Daily ETF	6.24%	6.36%

Frequently Asked Questions

Can I hold both PANG and RTXG in my portfolio?

PANG and RTXG have a correlation of 0.02, 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 RTXG?

PANG has higher volatility (32.54%) compared to RTXG (16.45%). In terms of maximum drawdown, PANG dropped -62.38% vs RTXG's -37.49%.

Which ETF is better, PANG or RTXG?

On 1-year performance, PANG leads with 149.41% vs 40.31% for RTXG. Both ETFs have the same 0.75% expense ratio. On volatility, RTXG has been the lower-risk option at 16.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PANG or RTXG?

Over the 1-year period, PANG has performed better with a 149.41% return vs 40.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PANG or RTXG?

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

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

RTXG has the higher dividend yield at 6.24%, compared with 3.76% for PANG.

Which has better risk-adjusted returns?

PANG currently has the higher Sharpe Ratio (1.81 vs 0.80), 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.