# UBRL Tracking Error: Up vs Down Days

> Over the 90 days to Nov 4, 2026, UBRL missed two times UBER's daily return by 17.1 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.

## UBRL daily tracking

Over the 90 days to Nov 4, 2026, UBRL missed two times UBER's daily return by 17.1 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: 11 of 22 days, from Oct 16, 2026 | NAV | 2.9 | −2.9 | 0.38% | −2.0 (3 days) | −3.2 (8 days) | +1.2 | Not enough days |
| 30 days to Nov 4, 2026, 22 daily returns | closing price (stated) | 21.0 | −2.6 | 4.49% | −10.6 (7 days) | +1.2 (15 days) | −11.8 | Not enough days |
| 90 days to Nov 4, 2026: 12 of 63 days, from Sep 11, 2026 | NAV | 3.3 | −3.3 | 0.43% | −2.0 (3 days) | −3.7 (9 days) | +1.7 | Not enough days |
| 90 days to Nov 4, 2026, 63 daily returns | closing price (stated) | 17.1 | −2.8 | 3.49% | −5.5 (26 days) | −0.9 (37 days) | −4.5 | Not significant (t −0.8) |
| 180 days to Nov 4, 2026, 124 daily returns | closing price (stated) | 20.9 | −3.2 | 4.30% | −6.5 (55 days) | −0.6 (69 days) | −5.9 | Not significant (t −1.2) |
| 1 year to Nov 4, 2026, 251 daily returns | closing price (stated) | 20.7 | −3.0 | 4.28% | −4.2 (115 days) | −1.8 (135 days) | −2.4 | Not significant (t −0.7) |

### UBRL's largest daily misses

The 5 days UBRL 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 | UBER moved | Target | UBRL returned | Miss |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Jul 16, 2026 | closing price | +1.89% | +3.77% | +2.80% | −0.97 pts |
| 2 | Jul 17, 2026 | closing price | −2.13% | −4.27% | −3.35% | +0.91 pts |
| 3 | Dec 18, 2025 | closing price | +0.69% | +1.39% | +2.21% | +0.82 pts |
| 4 | Jan 28, 2026 | closing price | −1.80% | −3.59% | −2.80% | +0.80 pts |
| 5 | May 12, 2026 | closing price | +0.28% | +0.55% | +1.28% | +0.73 pts |

### Method

The daily miss is UBRL's return each day less two times UBER'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. UBRL ranks 118 of 494 2x leveraged ETFs on its 90-day average daily miss. Up days and down days split the miss by whether UBER 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 UBRL 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, UBRL daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/ubrl/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/ubrl/tracking/