# BNMC Tracking Error: Up vs Down Days

> Over the 90 days to Nov 4, 2026, BNMC missed two times BMNR's daily return by 52.1 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.

## BNMC daily tracking

Over the 90 days to Nov 4, 2026, BNMC missed two times BMNR's daily return by 52.1 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) | 8.6 | −7.2 | 1.37% | −8.7 (6 days) | −6.6 (14 days) | −2.1 | Not enough days |
| 30 days to Nov 4, 2026, 22 daily returns | closing price | 46.4 | −9.7 | 8.44% | −6.6 (7 days) | −11.1 (15 days) | +4.5 | Not enough days |
| 90 days to Nov 4, 2026, 63 daily returns | closing price (stated) | 52.1 | −8.5 | 10.84% | −19.5 (28 days) | +0.3 (35 days) | −19.8 | Not significant (t −1.1) |

### BNMC's largest daily misses

The 5 days BNMC strayed furthest from its daily target in the 90 days to Nov 4, 2026, each on its NAV where ETFIQ holds it, else its closing price.

| # | Day | Read on | BMNR moved | Target | BNMC returned | Miss |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Aug 19, 2026 | closing price | +10.72% | +21.44% | +19.61% | −1.83 pts |
| 2 | Aug 26, 2026 | closing price | +0.36% | +0.73% | +2.40% | +1.67 pts |
| 3 | Aug 17, 2026 | closing price | +3.60% | +7.19% | +5.66% | −1.53 pts |
| 4 | Aug 25, 2026 | closing price | +2.82% | +5.63% | +4.10% | −1.53 pts |
| 5 | Sep 21, 2026 | closing price | +8.70% | +17.39% | +15.86% | −1.53 pts |

### Method

The daily miss is BNMC's return each day less 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. BNMC ranks 439 of 494 2x leveraged 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 BNMC 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

---

Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ, BNMC daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/bnmc/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/bnmc/tracking/