# BMNZ Tracking Error: Up vs Down Days

> Over the 90 days to Nov 4, 2026, BMNZ missed minus two times BMNR's daily return by 29.3 basis points a day on average, on its closing price.

Data as of Nov 4, 2026. Rebuilt every trading night.

As of Nov 4, 2026 . Rebuilt every trading night.

## BMNZ daily tracking

Over the 90 days to Nov 4, 2026, BMNZ missed minus two times BMNR's daily return by 29.3 basis points a day on average, on its closing price.

| Window | Read on | Average daily miss, bp | Signed average, bp | Tracking error | Up days, bp | Down days, bp | Up less down, bp | Confidence |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 30 days to Nov 4, 2026: 20 of 22 days, from Oct 7, 2026 | NAV (stated) | 10.3 | −9.2 | 1.47% | −9.5 (6 days) | −9.1 (14 days) | −0.4 | Not enough days |
| 30 days to Nov 4, 2026, 22 daily returns | closing price | 28.1 | −5.8 | 5.37% | −19.2 (7 days) | +0.4 (15 days) | −19.6 | Not enough days |
| 90 days to Nov 4, 2026, 63 daily returns | closing price (stated) | 29.3 | −6.5 | 5.69% | −14.2 (28 days) | −0.4 (35 days) | −13.8 | Not significant (t −1.6) |
| 180 days to Nov 4, 2026, 124 daily returns | closing price (stated) | 34.2 | −7.7 | 6.97% | −9.9 (57 days) | −5.8 (67 days) | −4.2 | Not significant (t −0.5) |

### BMNZ's largest daily misses

The 5 days BMNZ strayed furthest from its daily target in the 180 days to Nov 4, 2026, each on its NAV where ETFIQ holds it, else its closing price.

| # | Day | Read on | BMNR moved | Target | BMNZ returned | Miss |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Jul 20, 2026 | closing price | +5.99% | −11.98% | −13.43% | −1.45 pts |
| 2 | Jul 21, 2026 | closing price | +3.61% | −7.22% | −5.86% | +1.35 pts |
| 3 | Jul 15, 2026 | closing price | −3.07% | +6.14% | +4.87% | −1.27 pts |
| 4 | May 12, 2026 | closing price | −5.86% | +11.73% | +10.65% | −1.08 pts |
| 5 | Sep 1, 2026 | closing price | −7.70% | +15.40% | +16.35% | +0.94 pts |

### Method

The daily miss is BMNZ's return each day less minus two times BMNR's return that day. A basis point is a hundredth of a percentage point. Each window is read twice where ETFIQ holds both NAVs: on NAVs, and on closing prices. It is stated on the closing price because NAVs for 20 of the 63 sessions. BMNZ ranks 61 of 75 2x inverse ETFs on its 90-day average daily miss. Up days and down days split the miss by whether BMNR rose or fell; Significant means the gap is at least two standard errors from zero. The average miss carries its sign: a negative one is what the fund kept below its target each day, its fees and financing among it. Not every fund here has traded for a year, and a number over eight months does not order against one over twelve. This page lists each fund with its window and dates instead of ranking them. It becomes a ranking on the night four of them share a full year. Every window ETFIQ can measure for BMNZ is listed.

### Where to next

### Sources

Links are sources, not endorsements.

A ranking is not a recommendation or an opinion. ETFIQ is an independent publisher, not an adviser. Standards and sources

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Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ, BMNZ daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/bmnz/tracking/
Licence: https://etfiq.com/license/ Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.
HTML: https://etfiq.com/funds/bmnz/tracking/