# NBIL Tracking Error: Up vs Down Days

> Over the 90 days to Nov 4, 2026, NBIL missed two times NBIS's daily return by 13.9 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.

## NBIL daily tracking

Over the 90 days to Nov 4, 2026, NBIL missed two times NBIS's daily return by 13.9 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 | 6.9 | −6.9 | 0.63% | −5.8 (6 days) | −8.2 (5 days) | +2.4 | Not enough days |
| 30 days to Nov 4, 2026, 22 daily returns | closing price (stated) | 12.8 | −9.6 | 2.41% | −15.3 (9 days) | −5.5 (13 days) | −9.8 | Not enough days |
| 90 days to Nov 4, 2026: 12 of 63 days, from Sep 11, 2026 | NAV | 7.3 | −7.3 | 0.64% | −5.8 (6 days) | −8.8 (6 days) | +3.0 | Not enough days |
| 90 days to Nov 4, 2026, 63 daily returns | closing price (stated) | 13.9 | −7.2 | 2.71% | −14.4 (26 days) | −2.2 (37 days) | −12.2 | Significant (t −2.8) |
| 180 days to Nov 4, 2026, 124 daily returns | closing price (stated) | 17.8 | −6.0 | 3.78% | −8.7 (57 days) | −3.6 (67 days) | −5.1 | Not significant (t −1.2) |
| 1 year to Nov 4, 2026, 251 daily returns | closing price (stated) | 19.2 | −5.1 | 3.92% | −8.0 (121 days) | −2.5 (130 days) | −5.5 | Not significant (t −1.8) |

### NBIL's largest daily misses

The 5 days NBIL 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 | NBIS moved | Target | NBIL returned | Miss |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Jul 30, 2026 | closing price | +27.13% | +54.26% | +53.33% | −0.92 pts |
| 2 | Jul 31, 2026 | closing price | +1.05% | +2.10% | +2.88% | +0.78 pts |
| 3 | Apr 23, 2026 | closing price | +0.60% | +1.20% | +0.48% | −0.72 pts |
| 4 | Jan 16, 2026 | closing price | +4.66% | +9.33% | +8.63% | −0.70 pts |
| 5 | Apr 21, 2026 | closing price | −1.64% | −3.28% | −2.69% | +0.59 pts |

### Method

The daily miss is NBIL'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 12 of the 63 sessions. NBIL ranks 68 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. 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 NBIL 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, NBIL daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/nbil/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/nbil/tracking/