# IREX Tracking Error: Up vs Down Days

> Over the 90 days to Nov 4, 2026, IREX missed two times IREN's daily return by 20.0 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.

## IREX daily tracking

Over the 90 days to Nov 4, 2026, IREX missed two times IREN's daily return by 20.0 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) | 20.2 | −8.3 | 3.87% | −16.8 (7 days) | −5.4 (14 days) | −11.4 | Not enough days |
| 90 days to Nov 4, 2026, 63 daily returns | closing price (stated) | 20.0 | −7.6 | 3.84% | −8.2 (27 days) | −7.6 (35 days) | −0.7 | Not significant (t −0.1) |
| 180 days to Nov 4, 2026, 124 daily returns | closing price (stated) | 25.3 | −7.6 | 5.05% | −11.6 (47 days) | −5.3 (76 days) | −6.3 | Not significant (t −1.1) |
| 1 year to Nov 4, 2026, 251 daily returns | closing price (stated) | 28.6 | −8.9 | 6.75% | −18.2 (110 days) | −1.7 (140 days) | −16.4 | Significant (t −3.0) |

### IREX's largest daily misses

The 5 days IREX 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 | IREN moved | Target | IREX returned | Miss |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Dec 3, 2025 | closing price | +6.91% | +13.81% | +10.12% | −3.69 pts |
| 2 | Dec 2, 2025 | closing price | −15.20% | −30.40% | −28.32% | +2.08 pts |
| 3 | Jan 23, 2026 | closing price | +8.46% | +16.92% | +15.51% | −1.40 pts |
| 4 | Nov 13, 2025 | closing price | −12.66% | −25.31% | −26.29% | −0.98 pts |
| 5 | May 8, 2026 | closing price | +7.65% | +15.30% | +14.34% | −0.96 pts |

### Method

The daily miss is IREX's return each day less two times IREN'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. IREX ranks 173 of 494 2x leveraged ETFs on its 90-day average daily miss. Up days and down days split the miss by whether IREN 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 IREX 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, IREX daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/irex/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/irex/tracking/