# LABD Tracking Error: Up vs Down Days

> Over the 90 days to Nov 4, 2026, LABD missed minus three times S&P Biotech's daily return by 18.6 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.

## LABD daily tracking

Over the 90 days to Nov 4, 2026, LABD missed minus three times S&P Biotech's daily return by 18.6 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: 17 of 22 days, from Oct 7, 2026 | NAV | 6.6 | +6.6 | 0.73% | +6.1 (7 days) | +6.9 (10 days) | −0.8 | Not enough days |
| 30 days to Nov 4, 2026, 22 daily returns | closing price (stated) | 18.6 | +4.4 | 4.01% | +0.9 (10 days) | +7.2 (12 days) | −6.3 | Not significant (t −0.6) |
| 90 days to Nov 4, 2026, 63 daily returns | closing price (stated) | 18.6 | +5.0 | 3.71% | +6.5 (33 days) | +3.3 (30 days) | +3.2 | Not significant (t 0.6) |
| 180 days to Nov 4, 2026, 124 daily returns | closing price (stated) | 17.6 | +5.3 | 3.40% | +6.4 (71 days) | +3.9 (53 days) | +2.6 | Not significant (t 0.7) |
| 1 year to Nov 4, 2026, 251 daily returns | closing price (stated) | 17.2 | +5.5 | 3.30% | +8.5 (138 days) | +1.9 (113 days) | +6.6 | Significant (t 2.5) |

### LABD's largest daily misses

The 5 days LABD 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 | S&P Biotech moved | Target | LABD returned | Miss |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Aug 31, 2026 | closing price | +0.07% | −0.22% | +0.45% | +0.68 pts |
| 2 | Feb 25, 2026 | closing price | −0.68% | +2.04% | +1.47% | −0.57 pts |
| 3 | Nov 14, 2025 | closing price | +1.88% | −5.63% | −5.07% | +0.56 pts |
| 4 | Nov 17, 2025 | closing price | +0.72% | −2.16% | −1.61% | +0.55 pts |
| 5 | Apr 30, 2026 | closing price | +1.89% | −5.66% | −5.12% | +0.54 pts |

### Method

The daily miss is LABD's return each day less minus three times S&P Biotech'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 17 of the 63 sessions. LABD ranks 17 of 19 3x inverse ETFs on its 90-day average daily miss. Up days and down days split the miss by whether S&P Biotech 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. S&P Biotech 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 LABD 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, LABD daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/labd/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/labd/tracking/