{"url":"https://etfiq.com/leveraged-etf-tracking/","section":"leveraged-etf-tracking","title":"Leveraged ETF Tracking by Issuer | ETFIQ","description":"As of Nov 5, 2026, Direxion leads 10 leveraged ETF issuers, with a median tracking error of 2.65% across 112 funds. No fund is recommended.","as_of":"Nov 5, 2026","structured_data":[{"@type":"ItemList","name":"Leveraged ETF tracking by issuer","numberOfItems":10,"itemListOrder":"https://schema.org/ItemListOrderDescending","itemListElement":[{"@type":"ListItem","position":1,"name":"Direxion","url":"https://etfiq.com/issuers/direxion"},{"@type":"ListItem","position":2,"name":"ProShares","url":"https://etfiq.com/issuers/proshares"},{"@type":"ListItem","position":3,"name":"Volatility Shares","url":"https://etfiq.com/issuers/volatility-shares"},{"@type":"ListItem","position":4,"name":"GraniteShares","url":"https://etfiq.com/issuers/graniteshares"},{"@type":"ListItem","position":5,"name":"Leverage Shares","url":"https://etfiq.com/issuers/leverage-shares"},{"@type":"ListItem","position":6,"name":"Defiance","url":"https://etfiq.com/issuers/defiance"},{"@type":"ListItem","position":7,"name":"T-REX","url":"https://etfiq.com/issuers/t-rex"},{"@type":"ListItem","position":8,"name":"Tradr","url":"https://etfiq.com/issuers/tradr"},{"@type":"ListItem","position":9,"name":"Corgi","url":"https://etfiq.com/issuers/corgi"},{"@type":"ListItem","position":10,"name":"KraneShares","url":"https://etfiq.com/issuers/kraneshares"}]},{"@type":"Dataset","name":"Leveraged ETF tracking by issuer","description":"As of Nov 5, 2026, Direxion leads 10 leveraged ETF issuers, with a median tracking error of 2.65% across 112 funds. No fund is recommended.","url":"https://etfiq.com/leveraged-etf-tracking/","dateModified":"2026-11-05","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":"FAQPage","mainEntity":[{"@type":"Question","name":"Which leveraged ETF issuer tracks its daily target most closely?","acceptedAnswer":{"@type":"Answer","text":"By median tracking error on closing prices, Direxion, at 2.65% a year, as of Nov 5, 2026. By average IQ Leverage Score, KraneShares, at 99.1."}},{"@type":"Question","name":"What is tracking error for a leveraged ETF?","acceptedAnswer":{"@type":"Answer","text":"How much its daily return strays from its multiple of the underlying's daily return, measured as the spread of those daily misses over a year. It says nothing about returns over longer windows, which compounding decides."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Leverage","item":"https://etfiq.com/leverage/"},{"@type":"ListItem","position":3,"name":"Tracking","item":"https://etfiq.com/leveraged-etf-tracking/"}]},{"@type":"WebPage","name":"Leveraged ETF Tracking by Issuer","description":"As of Nov 5, 2026, Direxion leads 10 leveraged ETF issuers, with a median tracking error of 2.65% across 112 funds. No fund is recommended.","url":"https://etfiq.com/leveraged-etf-tracking/","dateModified":"2026-11-05","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":4757,"truncated":false,"content":"ETFIQ / Leverage / Tracking \n \n As of Nov 5, 2026 . Rebuilt every trading night.\n Leveraged ETF tracking by issuer\n As of Nov 5, 2026, Direxion leads 10 leveraged ETF issuers, with a median tracking error of 2.65% across 112 funds. See 10 issuers ranked by median tracking error, lowest first. Updated Nov 5, 2026.\n Leveraged ETF tracking by issuer, ranked by median tracking error, lowest first, as of Nov 5, 2026. Every number is over the 90 days to this date. Source: ETFIQ. # Issuer Funds measured Median tracking error Median daily miss, bp Average IQ Leverage Score Funds in the top tenth Funds in the bottom tenth \n 1 Direxion 112 funds 2.65% 13.4 52.9 8% 6% \n 2 ProShares 103 funds 2.69% 12.9 56.7 9% 8% \n 3 Volatility Shares 5 funds 3.17% 16.7 7.3 0% 60% \n 4 GraniteShares 44 funds 3.62% 17.9 40.6 0% 5% \n 5 Leverage Shares 94 funds 6.10% 29.5 46.5 7% 7% \n 6 Defiance 58 funds 6.19% 31.7 29.4 5% 33% \n 7 T-REX 44 funds 6.25% 30.3 43.2 14% 14% \n 8 Tradr 67 funds 6.43% 31.9 58.6 11% 6% \n 9 Corgi 119 funds 7.42% 34.3 56.1 18% 7% \n 10 KraneShares 5 funds 63.44% 136.7 99.1 100% 0% \n \n Each set, ranked by its daily miss\n Every fund is ranked inside its own set, on the 90 days to the date above. Each set has its own page.\n Each set, ranked by its daily miss, as of Nov 5, 2026. Source: ETFIQ. # Set Funds ranked Median daily miss, bp Closest, bp Furthest, bp \n 1 2x leveraged ETFs 489 26.6 SSO 3.0 TEUP 133.4 \n 2 2x inverse ETFs 75 19.0 SDS 4.6 SKHN 119.1 \n 3 1x inverse ETFs 34 8.3 SH 3.8 ORCS 16.8 \n 4 3x leveraged ETFs 31 12.4 UPRO 5.1 PILL 41.3 \n 5 3x inverse ETFs 19 12.9 SQQQ 6.5 HIBS 28.7 \n \n Method\n Each fund's daily miss is its return each day less its multiple times its underlying's return that day. A basis point is a hundredth of a percentage point. Tracking error is the spread of those daily misses, annualized. Both are on closing prices here, so every issuer is read the same way. Issuers rank by the median tracking error of their funds, lowest first; an issuer of 3x and single-stock funds strays further by construction. The IQ Leverage Score is ETFIQ's one leverage score: a percentile inside each fund's own set, so a mix of 2x and 3x funds does not move an issuer up or down. It asks whether a fund kept up with its compounded multiple over three months, being ahead included, so a high score can sit beside a wide tracking error. The top and bottom tenth are funds scoring 90 or more and 10 or less. An issuer needs 3 funds measured to be ranked; 4 smaller issuers are not. The list sorts one published number, with no scoring or weighting. Every leveraged and inverse ETF ETFIQ measures against a daily multiple is eligible: 678 funds.\n Questions people ask\n Which leveraged ETF issuer tracks its daily target most closely? By median tracking error on closing prices, Direxion, at 2.65% a year, as of Nov 5, 2026. By average IQ Leverage Score, KraneShares, at 99.1. What is tracking error for a leveraged ETF? How much its daily return strays from its multiple of the underlying's daily return, measured as the spread of those daily misses over a year. It says nothing about returns over longer windows, which compounding decides. Where to next\n 2x leveraged ETFs ranked by daily tracking 2x inverse ETFs ranked by daily tracking 1x inverse ETFs ranked by daily tracking 3x leveraged ETFs ranked by daily tracking 3x inverse ETFs ranked by daily tracking Every leveraged and inverse ETF 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, Leveraged ETF tracking by issuer, ranked by median tracking error, lowest first, data as of Nov 5, 2026. https://etfiq.com/leveraged-etf-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, Leveraged ETF tracking by issuer, ranked by median tracking error, lowest first, data as of Nov 5, 2026. https://etfiq.com/leveraged-etf-tracking/ APA ETFIQ. (Nov 5, 2026). Leveraged ETF tracking by issuer, ranked by median tracking error, lowest first. Retrieved from https://etfiq.com/leveraged-etf-tracking/ Markdown [Leveraged ETF tracking by issuer, ranked by median tracking error, lowest first (ETFIQ, Nov 5, 2026)](https://etfiq.com/leveraged-etf-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, Leveraged ETF tracking by issuer, ranked by median tracking error, lowest first, data as of Nov 5, 2026. https://etfiq.com/leveraged-etf-tracking/"}