# NFXL Tracking Error: Up vs Down Days

> Over the 90 days to Nov 4, 2026, NFXL missed two times NFLX's daily return by 8.2 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.

## NFXL daily tracking

Over the 90 days to Nov 4, 2026, NFXL missed two times NFLX's daily return by 8.2 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 | 4.8 | −4.5 | 0.52% | −2.8 (9 days) | −6.4 (8 days) | +3.6 | Not enough days |
| 30 days to Nov 4, 2026, 22 daily returns | closing price (stated) | 11.3 | −4.0 | 2.31% | −5.1 (12 days) | −2.8 (10 days) | −2.3 | Not significant (t −0.4) |
| 90 days to Nov 4, 2026, 63 daily returns | closing price (stated) | 8.2 | −4.1 | 1.61% | −6.7 (27 days) | −2.1 (36 days) | −4.5 | Not significant (t −1.7) |
| 180 days to Nov 4, 2026, 124 daily returns | closing price (stated) | 11.1 | −4.1 | 2.52% | −6.5 (53 days) | −2.3 (71 days) | −4.2 | Not significant (t −1.4) |
| 1 year to Nov 4, 2026, 251 daily returns | closing price (stated) | 12.0 | −4.1 | 2.48% | −5.7 (114 days) | −2.8 (137 days) | −2.9 | Not significant (t −1.5) |

### NFXL's largest daily misses

The 5 days NFXL 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 | NFLX moved | Target | NFXL returned | Miss |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Jul 17, 2026 | closing price | −7.26% | −14.53% | −15.44% | −0.91 pts |
| 2 | Jul 16, 2026 | closing price | +0.91% | +1.82% | +2.43% | +0.61 pts |
| 3 | Apr 2, 2026 | closing price | +3.25% | +6.51% | +6.09% | −0.42 pts |
| 4 | Jun 18, 2026 | closing price | +0.55% | +1.09% | +0.71% | −0.39 pts |
| 5 | Apr 6, 2026 | closing price | +0.27% | +0.55% | +0.92% | +0.37 pts |

### Method

The daily miss is NFXL's return each day less two times NFLX'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. NFXL ranks 13 of 494 2x leveraged ETFs on its 90-day average daily miss. Up days and down days split the miss by whether NFLX 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 NFXL 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, NFXL daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/nfxl/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/nfxl/tracking/