# NBIC Tracking Error: Up vs Down Days

> Over the 90 days to Nov 4, 2026, NBIC missed two times NBIS's daily return by 38.0 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.

## NBIC daily tracking

Over the 90 days to Nov 4, 2026, NBIC missed two times NBIS's daily return by 38.0 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: 19 of 22 days, from Oct 7, 2026 | NAV (stated) | 9.0 | −5.8 | 1.65% | −12.3 (8 days) | −1.1 (11 days) | −11.2 | Not enough days |
| 30 days to Nov 4, 2026, 22 daily returns | closing price | 37.8 | −7.2 | 7.02% | +1.7 (9 days) | −13.4 (13 days) | +15.1 | Not enough days |
| 90 days to Nov 4, 2026, 63 daily returns | closing price (stated) | 38.0 | −11.0 | 7.94% | −18.4 (26 days) | −5.8 (37 days) | −12.6 | Not significant (t −1.0) |

### NBIC's largest daily misses

The 5 days NBIC 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 | NBIS moved | Target | NBIC returned | Miss |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Aug 12, 2026 | closing price | +34.14% | +68.28% | +66.52% | −1.76 pts |
| 2 | Aug 19, 2026 | closing price | −9.87% | −19.75% | −21.22% | −1.47 pts |
| 3 | Sep 9, 2026 | closing price | −1.45% | −2.89% | −1.96% | +0.93 pts |
| 4 | Aug 11, 2026 | closing price | +4.95% | +9.91% | +9.08% | −0.83 pts |
| 5 | Sep 8, 2026 | closing price | +7.73% | +15.45% | +14.64% | −0.81 pts |

### Method

The daily miss is NBIC's return each day less two times NBIS'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 19 of the 63 sessions. NBIC ranks 353 of 494 2x leveraged ETFs on its 90-day average daily miss. Up days and down days split the miss by whether NBIS 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. 1 NAV day was held out, where the NAV and the closing price disagreed about the day: Oct 23, 2026. 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 NBIC is listed.

### Where to next

### Sources

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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, NBIC daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/nbic/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/nbic/tracking/