# SBIT Tracking Error: Up vs Down Days

> Over the 90 days to Nov 4, 2026, SBIT missed minus two times Bitcoin's daily return by 9.0 basis points a day on average, on its NAV.

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

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

## SBIT daily tracking

Over the 90 days to Nov 4, 2026, SBIT missed minus two times Bitcoin's daily return by 9.0 basis points a day on average, on its NAV.

| 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: 21 of 22 days, from Oct 7, 2026 | NAV (stated) | 10.1 | +4.1 | 2.10% | −0.2 (11 days) | +8.8 (10 days) | −9.1 | Not significant (t −1.6) |
| 30 days to Nov 4, 2026, 22 daily returns | closing price | 11.6 | +4.7 | 2.42% | +0.6 (11 days) | +8.7 (11 days) | −8.1 | Not significant (t −1.3) |
| 90 days to Nov 4, 2026: 61 of 63 days, from Aug 7, 2026 | NAV (stated) | 9.0 | +3.6 | 1.84% | −0.8 (30 days) | +7.7 (31 days) | −8.5 | Significant (t −3.1) |
| 90 days to Nov 4, 2026, 63 daily returns | closing price | 12.2 | +3.5 | 2.37% | +0.3 (31 days) | +6.6 (32 days) | −6.4 | Not significant (t −1.7) |
| 180 days to Nov 4, 2026: 122 of 124 days, from May 11, 2026 | NAV (stated) | 10.0 | +3.2 | 2.03% | −0.6 (58 days) | +6.7 (64 days) | −7.2 | Significant (t −3.2) |
| 180 days to Nov 4, 2026, 124 daily returns | closing price | 11.2 | +3.2 | 2.20% | +1.3 (59 days) | +4.9 (65 days) | −3.7 | Not significant (t −1.5) |
| 1 year to Nov 4, 2026: 248 of 251 days, from Nov 5, 2025 | NAV (stated) | 11.7 | +3.6 | 2.72% | +0.1 (117 days) | +6.8 (131 days) | −6.8 | Significant (t −3.1) |
| 1 year to Nov 4, 2026, 251 daily returns | closing price | 12.0 | +3.8 | 2.63% | +2.0 (119 days) | +5.3 (132 days) | −3.3 | Not significant (t −1.6) |

### SBIT's largest daily misses

The 5 days SBIT 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 | Bitcoin moved | Target | SBIT returned | Miss |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Nov 28, 2025 | NAV | +1.52% | −3.04% | −1.68% | +1.35 pts |
| 2 | Dec 1, 2025 | NAV | −6.26% | +12.51% | +11.72% | −0.80 pts |
| 3 | Dec 24, 2025 | NAV | −0.14% | +0.29% | +0.89% | +0.60 pts |
| 4 | Dec 26, 2025 | NAV | 0.00% | 0.00% | −0.48% | −0.48 pts |
| 5 | Jun 26, 2026 | NAV | +0.75% | −1.50% | −1.92% | −0.42 pts |

### Method

The daily miss is SBIT's return each day less minus two times Bitcoin'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. SBIT ranks 21 of 75 2x inverse ETFs on its 90-day average daily miss. Up days and down days split the miss by whether Bitcoin 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. 1 NAV day was held out, where the NAV and the closing price disagreed about the day: Dec 19, 2025. 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 SBIT 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, SBIT daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/sbit/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/sbit/tracking/