{"url":"https://etfiq.com/funds/mzz/tracking/","section":"funds","title":"MZZ Tracking Error: Up vs Down Days | ETFIQ","description":"Over the 90 days to Nov 4, 2026, MZZ missed minus two times MidCap400's daily return by 5.6 basis points a day on average, on its NAV.","as_of":"Nov 4, 2026","structured_data":[{"@type":"ItemList","name":"MZZ daily tracking","numberOfItems":8,"itemListOrder":"https://schema.org/ItemListUnordered","itemListElement":[{"@type":"ListItem","position":1,"name":"30 days to Nov 4, 2026: 21 of 22 days, from Oct 7, 2026"},{"@type":"ListItem","position":2,"name":"30 days to Nov 4, 2026, 22 daily returns"},{"@type":"ListItem","position":3,"name":"90 days to Nov 4, 2026: 61 of 63 days, from Aug 7, 2026"},{"@type":"ListItem","position":4,"name":"90 days to Nov 4, 2026, 63 daily returns"},{"@type":"ListItem","position":5,"name":"180 days to Nov 4, 2026: 122 of 124 days, from May 11, 2026"},{"@type":"ListItem","position":6,"name":"180 days to Nov 4, 2026, 124 daily returns"},{"@type":"ListItem","position":7,"name":"1 year to Nov 4, 2026: 249 of 251 days, from Nov 5, 2025"},{"@type":"ListItem","position":8,"name":"1 year to Nov 4, 2026, 251 daily returns"}]},{"@type":"Dataset","name":"MZZ daily tracking","description":"Over the 90 days to Nov 4, 2026, MZZ missed minus two times MidCap400's daily return by 5.6 basis points a day on average, on its NAV.","url":"https://etfiq.com/funds/mzz/tracking/","dateModified":"2026-11-04","creator":{"@id":"https://etfiq.com/#org"},"license":"https://etfiq.com/license/","isAccessibleForFree":true,"creditText":"ETFIQ (etfiq.com)","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/leverage.json"}],"variableMeasured":["Stated multiple","Underlying return","What the stated multiple implies","Fund total return","Difference against the label","Volatility of the underlying","Expense ratio"],"keywords":["exchange-traded funds","ETF","Leveraged ETFs","fund data","SEC filings"]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"MZZ","item":"https://etfiq.com/funds/mzz"},{"@type":"ListItem","position":3,"name":"Tracking","item":"https://etfiq.com/funds/mzz/tracking/"}]},{"@type":"WebPage","name":"MZZ Tracking Error: Up vs Down Days","description":"Over the 90 days to Nov 4, 2026, MZZ missed minus two times MidCap400's daily return by 5.6 basis points a day on average, on its NAV.","url":"https://etfiq.com/funds/mzz/tracking/","dateModified":"2026-11-04","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":4394,"truncated":false,"content":"ETFIQ / MZZ / Tracking \n \n As of Nov 4, 2026 . Rebuilt every trading night.\n MZZ daily tracking\n Over the 90 days to Nov 4, 2026, MZZ missed minus two times MidCap400's daily return by 5.6 basis points a day on average, on its NAV.\n MZZ daily tracking, listed by window, as of Nov 4, 2026. Each row names its window, its last day and its count of daily returns. Source: ETFIQ. Window Read on Average daily miss, bp Signed average, bp Tracking error Up days, bp Down days, bp Up less down, bp Confidence \n 30 days to Nov 4, 2026: 21 of 22 days, from Oct 7, 2026 NAV (stated) 7.1 +4.2 1.28% +2.4 (14 days) +7.7 (7 days) \u22125.3 Not enough days \n 30 days to Nov 4, 2026, 22 daily returns closing price 10.0 +3.4 2.11% \u22120.3 (15 days) +11.1 (7 days) \u221211.4 Not enough days \n 90 days to Nov 4, 2026: 61 of 63 days, from Aug 7, 2026 NAV (stated) 5.6 +4.3 0.86% +3.7 (32 days) +5.0 (29 days) \u22121.3 Not significant (t \u22121.0) \n 90 days to Nov 4, 2026, 63 daily returns closing price 13.5 +4.6 2.78% \u22120.5 (34 days) +10.5 (29 days) \u221210.9 Significant (t \u22122.6) \n 180 days to Nov 4, 2026: 122 of 124 days, from May 11, 2026 NAV (stated) 4.8 +4.1 0.65% +3.3 (64 days) +5.0 (58 days) \u22121.7 Significant (t \u22122.3) \n 180 days to Nov 4, 2026, 124 daily returns closing price 15.9 +4.0 3.22% +2.8 (66 days) +5.5 (58 days) \u22122.7 Not significant (t \u22120.7) \n 1 year to Nov 4, 2026: 249 of 251 days, from Nov 5, 2025 NAV (stated) 4.3 +4.0 0.51% +3.2 (138 days) +5.0 (111 days) \u22121.9 Significant (t \u22124.8) \n 1 year to Nov 4, 2026, 251 daily returns closing price 14.2 +4.0 2.84% +2.5 (137 days) +5.8 (114 days) \u22123.3 Not significant (t \u22121.4) \n \n MZZ's largest daily misses\n The 5 days MZZ 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.\n MZZ's largest daily misses, as of Nov 4, 2026. Source: ETFIQ. # Day Read on MidCap400 moved Target MZZ returned Miss \n 1 Oct 5, 2026 closing price +0.39% \u22120.78% \u22120.31% +0.47 pts \n 2 Oct 30, 2026 NAV \u22121.20% +2.40% +2.61% +0.21 pts \n 3 Oct 6, 2026 closing price +0.41% \u22120.81% \u22121.01% \u22120.20 pts \n 4 Sep 11, 2026 NAV +0.84% \u22121.68% \u22121.50% +0.18 pts \n 5 Oct 19, 2026 NAV 0.00% \u22120.01% +0.15% +0.16 pts \n \n Method\n The daily miss is MZZ's return each day less minus two times MidCap400'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. MZZ ranks 23 of 75 2x inverse ETFs on its 90-day average daily miss. Up days and down days split the miss by whether MidCap400 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. MidCap400 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 MZZ is listed.\n Where to next\n MZZ fund page 2x inverse ETFs ranked by daily tracking Leveraged ETF tracking by issuer How daily tracking is measured The tracking data file Sources\n The multiple each fund states in its own registered name, from the SEC investment company series and class file SEC EDGAR, full-text search of fund filings SEC Form N-PORT, what a fund filed it holds Rule 19a-1, what a distribution notice must say Links are sources, not endorsements.\n A ranking is not a recommendation or an opinion. ETFIQ is an independent publisher, not an adviser. Standards and sources \n Cite this page. ETFIQ, MZZ daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/mzz/tracking/ Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain ETFIQ, MZZ daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/mzz/tracking/ APA ETFIQ. (Nov 4, 2026). MZZ daily tracking, listed by window. Retrieved from https://etfiq.com/funds/mzz/tracking/ Markdown [MZZ daily tracking, listed by window (ETFIQ, Nov 4, 2026)](https://etfiq.com/funds/mzz/tracking/)","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, MZZ daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/mzz/tracking/"}