# QCML Tracking Error: Up vs Down Days

> Over the 90 days to Nov 4, 2026, QCML missed two times QCOM's daily return by 15.9 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.

## QCML daily tracking

Over the 90 days to Nov 4, 2026, QCML missed two times QCOM's daily return by 15.9 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 | 4.3 | −4.3 | 0.48% | −3.0 (6 days) | −5.8 (5 days) | +2.8 | Not enough days |
| 30 days to Nov 4, 2026, 22 daily returns | closing price (stated) | 17.7 | +0.3 | 4.25% | +0.9 (12 days) | −0.5 (10 days) | +1.4 | Not significant (t 0.1) |
| 90 days to Nov 4, 2026: 12 of 63 days, from Sep 11, 2026 | NAV | 5.0 | −5.0 | 0.60% | −4.4 (7 days) | −5.8 (5 days) | +1.4 | Not enough days |
| 90 days to Nov 4, 2026, 63 daily returns | closing price (stated) | 15.9 | −3.9 | 3.52% | −4.0 (35 days) | −3.7 (28 days) | −0.3 | Not significant (t −0.1) |
| 180 days to Nov 4, 2026, 124 daily returns | closing price (stated) | 17.5 | −4.2 | 3.66% | −2.9 (63 days) | −5.5 (61 days) | +2.6 | Not significant (t 0.6) |
| 1 year to Nov 4, 2026, 251 daily returns | closing price (stated) | 22.9 | −3.3 | 8.25% | −4.1 (130 days) | −2.4 (121 days) | −1.8 | Not significant (t −0.3) |

### QCML's largest daily misses

The 5 days QCML 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 | QCOM moved | Target | QCML returned | Miss |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Apr 30, 2026 | closing price | +15.12% | +30.23% | +35.88% | +5.65 pts |
| 2 | Apr 29, 2026 | closing price | +4.00% | +8.00% | +3.47% | −4.53 pts |
| 3 | Nov 4, 2026 | closing price | +5.33% | +10.65% | +11.62% | +0.96 pts |
| 4 | Feb 4, 2026 | closing price | +1.16% | +2.32% | +1.47% | −0.85 pts |
| 5 | Feb 3, 2026 | closing price | −3.56% | −7.13% | −6.42% | +0.71 pts |

### Method

The daily miss is QCML's return each day less two times QCOM'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. QCML ranks 98 of 494 2x leveraged ETFs on its 90-day average daily miss. Up days and down days split the miss by whether QCOM 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 QCML 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, QCML daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/qcml/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/qcml/tracking/