# SMRX Tracking Error: Up vs Down Days

> Over the 90 days to Nov 4, 2026, SMRX missed two times SMR's daily return by 69.1 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.

## SMRX daily tracking

Over the 90 days to Nov 4, 2026, SMRX missed two times SMR's daily return by 69.1 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: 20 of 22 days, from Oct 7, 2026 | NAV (stated) | 6.2 | −3.3 | 1.13% | −6.9 (4 days) | −1.7 (15 days) | −5.2 | Not enough days |
| 30 days to Nov 4, 2026, 22 daily returns | closing price | 75.1 | −6.3 | 13.67% | −34.2 (5 days) | −3.9 (16 days) | −30.3 | Not enough days |
| 90 days to Nov 4, 2026, 63 daily returns | closing price (stated) | 69.1 | −7.7 | 13.19% | −28.2 (19 days) | −0.9 (43 days) | −27.3 | Not significant (t −1.1) |

### SMRX's largest daily misses

The 5 days SMRX strayed furthest from its daily target in the 90 days to Nov 4, 2026, each on its NAV where ETFIQ holds it, else its closing price.

| # | Day | Read on | SMR moved | Target | SMRX returned | Miss |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Sep 17, 2026 | closing price | +8.92% | +17.83% | +19.72% | +1.89 pts |
| 2 | Sep 8, 2026 | closing price | +15.26% | +30.52% | +32.29% | +1.77 pts |
| 3 | Sep 3, 2026 | closing price | +1.99% | +3.97% | +2.37% | −1.60 pts |
| 4 | Aug 7, 2026 | closing price | +3.70% | +7.39% | +5.82% | −1.58 pts |
| 5 | Aug 25, 2026 | closing price | +8.40% | +16.80% | +15.52% | −1.27 pts |

### Method

The daily miss is SMRX's return each day less two times SMR'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 20 of the 63 sessions. SMRX ranks 474 of 494 2x leveraged ETFs on its 90-day average daily miss. Up days and down days split the miss by whether SMR 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 SMRX 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, SMRX daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/smrx/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/smrx/tracking/