# ONG Tracking Error: Up vs Down Days

> Over the 90 days to Nov 4, 2026, ONG missed two times ON's daily return by 17.0 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.

## ONG daily tracking

Over the 90 days to Nov 4, 2026, ONG missed two times ON's daily return by 17.0 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: 20 of 22 days, from Oct 7, 2026 | NAV (stated) | 13.4 | −6.0 | 2.27% | −8.0 (8 days) | −4.7 (12 days) | −3.3 | Not enough days |
| 30 days to Nov 4, 2026, 22 daily returns | closing price | 18.4 | −5.2 | 3.85% | +9.2 (9 days) | −15.2 (13 days) | +24.4 | Not enough days |
| 90 days to Nov 4, 2026, 63 daily returns | closing price (stated) | 17.0 | −5.3 | 3.40% | −5.2 (33 days) | −5.4 (30 days) | +0.2 | Not significant (t 0.0) |

### ONG's largest daily misses

The 5 days ONG 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 | ON moved | Target | ONG returned | Miss |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Sep 9, 2026 | closing price | −0.14% | −0.28% | −0.88% | −0.59 pts |
| 2 | Aug 25, 2026 | closing price | +0.81% | +1.61% | +1.21% | −0.40 pts |
| 3 | Aug 13, 2026 | closing price | −2.11% | −4.22% | −3.87% | +0.35 pts |
| 4 | Oct 1, 2026 | closing price | +4.18% | +8.35% | +8.00% | −0.35 pts |
| 5 | Sep 29, 2026 | closing price | +0.40% | +0.79% | +0.46% | −0.34 pts |

### Method

The daily miss is ONG's return each day less two times ON'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 20 of the 63 sessions. ONG ranks 116 of 494 2x leveraged ETFs on its 90-day average daily miss. Up days and down days split the miss by whether ON 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 ONG 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, ONG daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/ong/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/ong/tracking/