# OPEX Tracking Error: Up vs Down Days

> Over the 90 days to Nov 4, 2026, OPEX missed two times OPEN's daily return by 70.8 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.

## OPEX daily tracking

Over the 90 days to Nov 4, 2026, OPEX missed two times OPEN's daily return by 70.8 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, 22 daily returns | closing price (stated) | 71.0 | −24.2 | 14.72% | −73.9 (6 days) | +4.3 (13 days) | −78.2 | Not enough days |
| 90 days to Nov 4, 2026, 63 daily returns | closing price (stated) | 70.8 | −13.4 | 13.89% | −13.7 (20 days) | +0.5 (37 days) | −14.2 | Not significant (t −0.6) |
| 180 days to Nov 4, 2026, 124 daily returns | closing price (stated) | 71.8 | −12.3 | 14.53% | +1.3 (49 days) | −13.9 (68 days) | +15.2 | Not significant (t 0.9) |
| 1 year to Nov 4, 2026, 251 daily returns | closing price (stated) | 76.6 | −14.0 | 17.05% | −8.2 (108 days) | −14.1 (135 days) | +5.9 | Not significant (t 0.4) |

### OPEX's largest daily misses

The 5 days OPEX 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 | OPEN moved | Target | OPEX returned | Miss |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Nov 18, 2025 | closing price | −0.88% | −1.77% | −9.85% | −8.08 pts |
| 2 | Nov 19, 2025 | closing price | −11.04% | −22.07% | −19.01% | +3.06 pts |
| 3 | Feb 11, 2026 | closing price | +1.49% | +2.99% | +0.24% | −2.74 pts |
| 4 | Jun 12, 2026 | closing price | −0.67% | −1.34% | −3.98% | −2.64 pts |
| 5 | Jul 28, 2026 | closing price | +2.34% | +4.68% | +7.28% | +2.61 pts |

### Method

The daily miss is OPEX's return each day less two times OPEN'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 its NAV or its target's is not struck at the 4:00 p.m. close. OPEX ranks 480 of 494 2x leveraged ETFs on its 90-day average daily miss. Up days and down days split the miss by whether OPEN 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 OPEX 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, OPEX daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/opex/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/opex/tracking/