# NTAL Tracking Error: Up vs Down Days

> Over the 90 days to Nov 4, 2026, NTAL missed two times NTAP's daily return by 18.3 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.

## NTAL daily tracking

Over the 90 days to Nov 4, 2026, NTAL missed two times NTAP's daily return by 18.3 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 | 4.2 | −4.0 | 0.51% | −2.6 (5 days) | −5.2 (6 days) | +2.6 | Not enough days |
| 30 days to Nov 4, 2026, 22 daily returns | closing price (stated) | 15.6 | −4.0 | 3.28% | +4.5 (11 days) | −12.5 (11 days) | +17.0 | Significant (t 2.1) |
| 90 days to Nov 4, 2026: 12 of 63 days, from Sep 11, 2026 | NAV | 4.9 | −4.7 | 0.64% | −4.3 (6 days) | −5.2 (6 days) | +0.9 | Not enough days |
| 90 days to Nov 4, 2026, 63 daily returns | closing price (stated) | 18.3 | −3.9 | 3.59% | −3.0 (35 days) | −5.1 (28 days) | +2.2 | Not significant (t 0.4) |

### NTAL's largest daily misses

The 5 days NTAL 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 | NTAP moved | Target | NTAL returned | Miss |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Sep 9, 2026 | closing price | −2.32% | −4.64% | −5.24% | −0.60 pts |
| 2 | Sep 8, 2026 | closing price | +1.91% | +3.81% | +4.28% | +0.46 pts |
| 3 | Sep 18, 2026 | closing price | +0.44% | +0.88% | +0.44% | −0.45 pts |
| 4 | Sep 1, 2026 | closing price | −1.15% | −2.30% | −2.68% | −0.38 pts |
| 5 | Oct 14, 2026 | closing price | −7.03% | −14.07% | −14.43% | −0.37 pts |

### Method

The daily miss is NTAL's return each day less two times NTAP'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. NTAL ranks 142 of 494 2x leveraged ETFs on its 90-day average daily miss. Up days and down days split the miss by whether NTAP 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 NTAL 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

---

Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ, NTAL daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/ntal/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/ntal/tracking/