# UCOP Tracking Error: Up vs Down Days

> Over the 90 days to Nov 4, 2026, UCOP missed two times Copper K-1 Free's daily return by 20.5 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.

## UCOP daily tracking

Over the 90 days to Nov 4, 2026, UCOP missed two times Copper K-1 Free's daily return by 20.5 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, 22 daily returns | closing price (stated) | 24.5 | −6.6 | 7.56% | −12.4 (12 days) | +0.3 (10 days) | −12.7 | Not significant (t −0.7) |
| 90 days to Nov 4, 2026, 63 daily returns | closing price (stated) | 20.5 | −6.7 | 5.41% | −12.2 (36 days) | +0.6 (27 days) | −12.8 | Not significant (t −1.6) |
| 180 days to Nov 4, 2026, 124 daily returns | closing price (stated) | 19.9 | −6.2 | 4.70% | −11.0 (72 days) | +0.5 (52 days) | −11.5 | Significant (t −2.3) |

### UCOP's largest daily misses

The 5 days UCOP strayed furthest from its daily target in the 180 days to Nov 4, 2026, each on its NAV where ETFIQ holds it, else its closing price.

| # | Day | Read on | Copper K-1 Free moved | Target | UCOP returned | Miss |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Oct 16, 2026 | closing price | +0.13% | +0.25% | −1.39% | −1.64 pts |
| 2 | Oct 19, 2026 | closing price | +0.18% | +0.35% | +1.68% | +1.33 pts |
| 3 | Aug 14, 2026 | closing price | +0.40% | +0.80% | +0.04% | −0.76 pts |
| 4 | Jul 9, 2026 | closing price | +1.83% | +3.67% | +2.94% | −0.73 pts |
| 5 | Sep 11, 2026 | closing price | +0.36% | +0.72% | +0.03% | −0.69 pts |

### Method

The daily miss is UCOP's return each day less two times Copper K-1 Free'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 its NAV or its target's is not struck at the 4:00 p.m. close. UCOP ranks 181 of 494 2x leveraged ETFs on its 90-day average daily miss. Up days and down days split the miss by whether Copper K-1 Free 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. Copper K-1 Free is itself an ETF, so its own fee and tracking are inside the miss. 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 UCOP 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, UCOP daily tracking, listed by window, data as of Nov 4, 2026. https://etfiq.com/funds/ucop/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/ucop/tracking/