# BRZX Tracking Error: Up vs Down Days

> Over the 90 days to Nov 4, 2026, BRZX missed two times Brazil's daily return by 17.0 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.

## BRZX daily tracking

Over the 90 days to Nov 4, 2026, BRZX missed two times Brazil's daily return by 17.0 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, 22 daily returns | closing price (stated) | 21.1 | −4.1 | 4.63% | −9.2 (9 days) | −2.1 (12 days) | −7.1 | Not enough days |
| 90 days to Nov 4, 2026, 63 daily returns | closing price (stated) | 17.0 | −5.0 | 3.51% | −5.0 (30 days) | −5.7 (32 days) | +0.7 | Not significant (t 0.1) |

### BRZX's largest daily misses

The 5 days BRZX 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 | Brazil moved | Target | BRZX returned | Miss |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Oct 28, 2026 | closing price | −1.98% | −3.97% | −4.74% | −0.77 pts |
| 2 | Oct 26, 2026 | closing price | −19.82% | −39.63% | −38.99% | +0.64 pts |
| 3 | Oct 20, 2026 | closing price | +2.41% | +4.82% | +4.37% | −0.44 pts |
| 4 | Sep 11, 2026 | closing price | −0.96% | −1.92% | −2.35% | −0.43 pts |
| 5 | Sep 4, 2026 | closing price | −0.71% | −1.42% | −1.75% | −0.34 pts |

### Method

The daily miss is BRZX's return each day less two times Brazil'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 its NAV or its target's is not struck at the 4:00 p.m. close. BRZX ranks 115 of 494 2x leveraged ETFs on its 90-day average daily miss. Up days and down days split the miss by whether Brazil 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. Brazil is itself an ETF, so its own fee and tracking are inside the miss. 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 BRZX 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, BRZX daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/brzx/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/brzx/tracking/