# PILL Tracking Error: Up vs Down Days

> Over the 90 days to Nov 4, 2026, PILL missed its daily target by 41.5 basis points a day on average. No fund is recommended.

Data as of Nov 4, 2026. Rebuilt every trading night.

As of Nov 4, 2026 . Rebuilt every trading night.

## PILL daily tracking

Over the 90 days to Nov 4, 2026, PILL missed three times Pharmaceutical & Medical's daily return by 41.5 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 | 5.7 | −5.6 | 0.87% | −3.4 (11 days) | −9.7 (6 days) | +6.2 | Not enough days |
| 30 days to Nov 4, 2026, 22 daily returns | closing price (stated) | 36.5 | −5.4 | 8.34% | +3.1 (12 days) | −18.1 (9 days) | +21.2 | Not enough days |
| 90 days to Nov 4, 2026, 63 daily returns | closing price (stated) | 41.5 | −4.3 | 8.68% | −9.4 (28 days) | −2.8 (33 days) | −6.7 | Not significant (t −0.5) |
| 180 days to Nov 4, 2026, 124 daily returns | closing price (stated) | 41.4 | −4.5 | 8.65% | −11.3 (67 days) | +2.1 (55 days) | −13.4 | Not significant (t −1.3) |
| 1 year to Nov 4, 2026, 251 daily returns | closing price (stated) | 43.0 | −4.6 | 8.89% | −17.1 (132 days) | +9.3 (116 days) | −26.4 | Significant (t −3.8) |

### PILL's largest daily misses

The 5 days PILL 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 | Pharmaceutical & Medical moved | Target | PILL returned | Miss |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Jul 13, 2026 | closing price | −2.37% | −7.10% | −5.44% | +1.66 pts |
| 2 | Jan 7, 2026 | closing price | +2.13% | +6.38% | +7.91% | +1.54 pts |
| 3 | Nov 11, 2025 | closing price | +3.68% | +11.03% | +9.51% | −1.51 pts |
| 4 | Jan 6, 2026 | closing price | +0.85% | +2.56% | +1.12% | −1.44 pts |
| 5 | Mar 31, 2026 | closing price | +5.32% | +15.95% | +14.57% | −1.37 pts |

### Method

The daily miss is PILL's return each day less three times Pharmaceutical & Medical'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. PILL ranks 31 of 31 3x leveraged ETFs on its 90-day average daily miss. Up days and down days split the miss by whether Pharmaceutical & Medical 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. Pharmaceutical & Medical is itself an ETF, so its own fee and tracking are inside the miss. 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 PILL 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, PILL daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/pill/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/pill/tracking/