# FBL Tracking Error: Up vs Down Days

> Over the 90 days to Nov 4, 2026, FBL missed two times META's daily return by 9.2 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.

## FBL daily tracking

Over the 90 days to Nov 4, 2026, FBL missed two times META's daily return by 9.2 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: 11 of 22 days, from Oct 16, 2026 | NAV | 4.3 | −4.3 | 0.44% | −2.7 (3 days) | −4.9 (8 days) | +2.2 | Not enough days |
| 30 days to Nov 4, 2026, 22 daily returns | closing price (stated) | 11.3 | −3.8 | 2.14% | −2.9 (6 days) | −4.1 (16 days) | +1.3 | Not enough days |
| 90 days to Nov 4, 2026: 12 of 63 days, from Sep 11, 2026 | NAV | 4.6 | −4.6 | 0.44% | −3.9 (4 days) | −4.9 (8 days) | +1.0 | Not enough days |
| 90 days to Nov 4, 2026, 63 daily returns | closing price (stated) | 9.2 | −4.1 | 1.72% | −6.0 (33 days) | −2.1 (30 days) | −3.9 | Not significant (t −1.4) |
| 180 days to Nov 4, 2026, 124 daily returns | closing price (stated) | 9.4 | −3.9 | 1.96% | −4.1 (61 days) | −3.7 (63 days) | −0.4 | Not significant (t −0.2) |
| 1 year to Nov 4, 2026, 251 daily returns | closing price (stated) | 8.7 | −3.9 | 1.72% | −5.0 (125 days) | −3.0 (126 days) | −2.0 | Not significant (t −1.5) |

### FBL's largest daily misses

The 5 days FBL strayed furthest from its daily target in the 1 year to Nov 4, 2026, each on its NAV where ETFIQ holds it, else its closing price.

| # | Day | Read on | META moved | Target | FBL returned | Miss |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Jul 30, 2026 | closing price | −7.95% | −15.91% | −16.51% | −0.60 pts |
| 2 | Jul 29, 2026 | closing price | −1.31% | −2.63% | −2.12% | +0.50 pts |
| 3 | Oct 23, 2026 | closing price | −0.96% | −1.92% | −2.24% | −0.32 pts |
| 4 | Apr 29, 2026 | closing price | −0.33% | −0.66% | −0.35% | +0.31 pts |
| 5 | Jun 26, 2026 | closing price | +1.36% | +2.72% | +2.41% | −0.31 pts |

### Method

The daily miss is FBL's return each day less two times META'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 12 of the 63 sessions. FBL ranks 23 of 494 2x leveraged ETFs on its 90-day average daily miss. Up days and down days split the miss by whether META 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 FBL 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, FBL daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/fbl/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/fbl/tracking/