# SHPU Tracking Error: Up vs Down Days

> Over the 90 days to Nov 4, 2026, SHPU missed two times SHOP's daily return by 19.0 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.

## SHPU daily tracking

Over the 90 days to Nov 4, 2026, SHPU missed two times SHOP's daily return by 19.0 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 | 3.4 | −3.2 | 0.50% | −3.5 (6 days) | −3.0 (11 days) | −0.5 | Not enough days |
| 30 days to Nov 4, 2026, 22 daily returns | closing price (stated) | 22.8 | −4.8 | 5.45% | −4.4 (10 days) | −5.1 (12 days) | +0.8 | Not significant (t 0.1) |
| 90 days to Nov 4, 2026, 63 daily returns | closing price (stated) | 19.0 | −4.0 | 4.10% | −1.8 (32 days) | −5.9 (30 days) | +4.1 | Not significant (t 0.6) |
| 180 days to Nov 4, 2026, 124 daily returns | closing price (stated) | 18.8 | −4.5 | 3.85% | −3.5 (63 days) | −5.3 (60 days) | +1.7 | Not significant (t 0.4) |
| 1 year to Nov 4, 2026, 251 daily returns | closing price (stated) | 17.6 | −4.4 | 3.65% | −3.2 (123 days) | −5.5 (127 days) | +2.3 | Not significant (t 0.8) |

### SHPU's largest daily misses

The 5 days SHPU 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 | SHOP moved | Target | SHPU returned | Miss |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Nov 14, 2025 | closing price | −0.21% | −0.41% | −1.46% | −1.05 pts |
| 2 | Nov 3, 2026 | closing price | −8.74% | −17.48% | −16.86% | +0.62 pts |
| 3 | Dec 26, 2025 | closing price | +0.81% | +1.63% | +1.08% | −0.55 pts |
| 4 | Apr 13, 2026 | closing price | +3.77% | +7.55% | +7.02% | −0.53 pts |
| 5 | May 8, 2026 | closing price | −1.19% | −2.38% | −1.85% | +0.53 pts |

### Method

The daily miss is SHPU's return each day less two times SHOP'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. SHPU ranks 152 of 494 2x leveraged ETFs on its 90-day average daily miss. Up days and down days split the miss by whether SHOP 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 SHPU 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, SHPU daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/shpu/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/shpu/tracking/