{"url":"https://etfiq.com/funds/spax/tracking/","section":"funds","title":"SPAX Tracking Error: Up vs Down Days | ETFIQ","description":"Over the 90 days to Nov 4, 2026, SPAX missed two times SPCX's daily return by 16.3 basis points a day on average, on its closing price.","as_of":"Nov 4, 2026","structured_data":[{"@type":"ItemList","name":"SPAX daily tracking","numberOfItems":3,"itemListOrder":"https://schema.org/ItemListUnordered","itemListElement":[{"@type":"ListItem","position":1,"name":"30 days to Nov 4, 2026: 13 of 22 days, from Oct 16, 2026"},{"@type":"ListItem","position":2,"name":"30 days to Nov 4, 2026, 22 daily returns"},{"@type":"ListItem","position":3,"name":"90 days to Nov 4, 2026, 63 daily returns"}]},{"@type":"Dataset","name":"SPAX daily tracking","description":"Over the 90 days to Nov 4, 2026, SPAX missed two times SPCX's daily return by 16.3 basis points a day on average, on its closing price.","url":"https://etfiq.com/funds/spax/tracking/","dateModified":"2026-11-04","creator":{"@id":"https://etfiq.com/#org"},"license":"https://etfiq.com/license/","isAccessibleForFree":true,"creditText":"ETFIQ (etfiq.com)","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/leverage.json"}],"variableMeasured":["Stated multiple","Underlying return","What the stated multiple implies","Fund total return","Difference against the label","Volatility of the underlying","Expense ratio"],"keywords":["exchange-traded funds","ETF","Leveraged ETFs","fund data","SEC filings"]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"SPAX","item":"https://etfiq.com/funds/spax"},{"@type":"ListItem","position":3,"name":"Tracking","item":"https://etfiq.com/funds/spax/tracking/"}]},{"@type":"WebPage","name":"SPAX Tracking Error: Up vs Down Days","description":"Over the 90 days to Nov 4, 2026, SPAX missed two times SPCX's daily return by 16.3 basis points a day on average, on its closing price.","url":"https://etfiq.com/funds/spax/tracking/","dateModified":"2026-11-04","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":3733,"truncated":false,"content":"ETFIQ / SPAX / Tracking \n \n As of Nov 4, 2026 . Rebuilt every trading night.\n SPAX daily tracking\n Over the 90 days to Nov 4, 2026, SPAX missed two times SPCX's daily return by 16.3 basis points a day on average, on its closing price.\n SPAX daily tracking, listed by window, as of Nov 4, 2026. Each row names its window, its last day and its count of daily returns. Source: ETFIQ. Window Read on Average daily miss, bp Signed average, bp Tracking error Up days, bp Down days, bp Up less down, bp Confidence \n 30 days to Nov 4, 2026: 13 of 22 days, from Oct 16, 2026 NAV 7.4 \u22126.2 1.00% \u22126.5 (6 days) \u22125.9 (7 days) \u22120.6 Not enough days \n 30 days to Nov 4, 2026, 22 daily returns closing price (stated) 19.7 \u22127.2 3.96% \u22127.9 (9 days) \u22126.7 (13 days) \u22121.2 Not enough days \n 90 days to Nov 4, 2026, 63 daily returns closing price (stated) 16.3 \u22125.5 3.14% \u22126.9 (31 days) \u22124.1 (32 days) \u22122.8 Not significant (t \u22120.6) \n \n SPAX's largest daily misses\n The 5 days SPAX 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.\n SPAX's largest daily misses, as of Nov 4, 2026. Source: ETFIQ. # Day Read on SPCX moved Target SPAX returned Miss \n 1 Oct 15, 2026 closing price \u22122.33% \u22124.65% \u22125.19% \u22120.54 pts \n 2 Sep 16, 2026 closing price +5.15% +10.30% +9.91% \u22120.39 pts \n 3 Aug 14, 2026 closing price \u22120.91% \u22121.83% \u22122.15% \u22120.32 pts \n 4 Aug 20, 2026 closing price \u22124.05% \u22128.09% \u22128.38% \u22120.29 pts \n 5 Sep 15, 2026 closing price \u22123.15% \u22126.29% \u22126.01% +0.28 pts \n \n Method\n The daily miss is SPAX's return each day less two times SPCX'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 13 of the 63 sessions. SPAX ranks 107 of 494 2x leveraged ETFs on its 90-day average daily miss. Up days and down days split the miss by whether SPCX 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 SPAX is listed.\n Where to next\n SPAX fund page 2x leveraged ETFs ranked by daily tracking Leveraged ETF tracking by issuer How daily tracking is measured The tracking data file Sources\n The multiple each fund states in its own registered name, from the SEC investment company series and class file SEC EDGAR, full-text search of fund filings SEC Form N-PORT, what a fund filed it holds Rule 19a-1, what a distribution notice must say Links are sources, not endorsements.\n A ranking is not a recommendation or an opinion. ETFIQ is an independent publisher, not an adviser. Standards and sources \n Cite this page. ETFIQ, SPAX daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/spax/tracking/ Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain ETFIQ, SPAX daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/spax/tracking/ APA ETFIQ. (Nov 4, 2026). SPAX daily tracking, listed by window. Retrieved from https://etfiq.com/funds/spax/tracking/ Markdown [SPAX daily tracking, listed by window (ETFIQ, Nov 4, 2026)](https://etfiq.com/funds/spax/tracking/)","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, SPAX daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/spax/tracking/"}