# PALD Tracking Error: Up vs Down Days

> Over the 90 days to Nov 4, 2026, PALD missed minus one times PANW's daily return by 9.8 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.

## PALD daily tracking

Over the 90 days to Nov 4, 2026, PALD missed minus one times PANW's daily return by 9.8 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: 17 of 22 days, from Oct 7, 2026 | NAV | 4.6 | +2.7 | 0.78% | +4.5 (6 days) | +1.8 (11 days) | +2.7 | Not enough days |
| 30 days to Nov 4, 2026, 22 daily returns | closing price (stated) | 9.1 | +1.8 | 1.78% | −1.1 (8 days) | +3.5 (14 days) | −4.5 | Not enough days |
| 90 days to Nov 4, 2026, 63 daily returns | closing price (stated) | 9.8 | +2.2 | 1.83% | +2.3 (29 days) | +2.2 (34 days) | +0.1 | Not significant (t 0.0) |
| 180 days to Nov 4, 2026, 124 daily returns | closing price (stated) | 10.2 | +2.4 | 2.15% | +1.7 (64 days) | +3.1 (60 days) | −1.5 | Not significant (t −0.6) |
| 1 year to Nov 4, 2026, 251 daily returns | closing price (stated) | 8.7 | +2.4 | 1.84% | +1.9 (129 days) | +3.0 (121 days) | −1.2 | Not significant (t −0.8) |

### PALD's largest daily misses

The 5 days PALD 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 | PANW moved | Target | PALD returned | Miss |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Jun 24, 2026 | closing price | −1.94% | +1.94% | +2.55% | +0.61 pts |
| 2 | Feb 11, 2026 | closing price | −0.13% | +0.13% | +0.49% | +0.37 pts |
| 3 | May 14, 2026 | closing price | +4.57% | −4.57% | −4.22% | +0.36 pts |
| 4 | Jun 23, 2026 | closing price | +1.58% | −1.58% | −1.91% | −0.33 pts |
| 5 | Jul 24, 2026 | closing price | −0.57% | +0.57% | +0.90% | +0.33 pts |

### Method

The daily miss is PALD's return each day less minus one times PANW'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. PALD ranks 27 of 34 1x inverse ETFs on its 90-day average daily miss. Up days and down days split the miss by whether PANW 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 PALD 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, PALD daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/pald/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/pald/tracking/