# 1x Inverse ETF Tracking Error, Ranked

> As of Nov 4, 2026, PSQ missed its daily target by 3.8 basis points a day on average over 90 days, the closest of 34 1x inverse ETFs.

Data as of Nov 4, 2026. Rebuilt every trading night.

As of Nov 4, 2026 . Rebuilt every trading night.

## 1x inverse ETFs ranked by daily tracking

As of Nov 4, 2026, PSQ missed its daily target by 3.8 basis points a day on average over 90 days, the closest of 34 1x inverse ETFs. See 34 funds ranked by average daily miss, smallest first. Updated Nov 4, 2026.

| # | Ticker | Fund | Issuer | Average daily miss, bp | Tracking error | Up days less down days, bp | Confidence | On NAV, bp |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1 | PSQ | ProShares Short QQQ | ProShares | 3.8 | 0.69% | 0.0 | Not significant (t −0.0) | 3.4 (13 days) |
| 2 | SH | ProShares Short S&P500 | ProShares | 3.8 | 0.62% | −0.6 | Not significant (t −0.6) | 2.8 (60 days) |
| 3 | DOG | ProShares Short Dow30 | ProShares | 4.3 | 0.70% | +0.8 | Not significant (t 0.7) | 2.7 (60 days) |
| 4 | SEF | ProShares Short Financials | ProShares | 4.9 | 0.92% | +0.5 | Not significant (t 0.3) | 2.8 (60 days) |
| 5 | RWM | ProShares Short Russell2000 | ProShares | 5.5 | 1.03% | −0.9 | Not significant (t −0.5) | 2.6 (61 days) |
| 6 | MYY | ProShares Short MidCap400 | ProShares | 5.7 | 1.14% | −2.9 | Not significant (t −1.6) | 2.5 (61 days) |
| 7 | TSLS | Direxion Daily TSLA Bear 1X ETF | Direxion | 5.8 | 1.10% | +0.8 | Not significant (t 0.4) | 3.4 (17 days) |
| 8 | GGLS | Direxion Daily GOOGL Bear 1X ETF | Direxion | 6.2 | 1.31% | 0.0 | Not significant (t 0.0) | 2.4 (20 days) |
| 9 | NFXS | Direxion Daily NFLX Bear 1X ETF | Direxion | 6.7 | 1.38% | −1.2 | Not significant (t −0.5) | 3.4 (15 days) |
| 10 | SBB | ProShares Short SmallCap600 | ProShares | 6.8 | 1.44% | −2.4 | Not significant (t −1.0) | 2.5 (61 days) |
| 11 | AMDD | Direxion Daily AMD Bear 1X ETF | Direxion | 6.9 | 1.32% | +2.2 | Not significant (t 1.1) | 3.2 (19 days) |
| 12 | NVDD | Direxion Daily NVDA Bear 1X ETF | Direxion | 7.0 | 1.33% | +0.3 | Not significant (t 0.1) | 3.2 (19 days) |
| 13 | AMZD | Direxion Daily AMZN Bear 1X ETF | Direxion | 7.1 | 1.38% | −4.3 | Significant (t −2.0) | 3.9 (19 days) |
| 14 | EFZ | ProShares Short MSCI EAFE | ProShares | 7.2 | 1.43% | −3.4 | Not significant (t −1.6) | not read |
| 15 | BITI | ProShares Short Bitcoin ETF | ProShares | 7.4 | 1.43% | −2.4 | Not significant (t −1.1) | 5.6 (61 days) |
| 16 | REK | ProShares Short Real Estate | ProShares | 7.8 | 1.53% | +0.6 | Not significant (t 0.2) | 2.8 (60 days) |
| 17 | MSFD | Direxion Daily MSFT Bear 1X ETF | Direxion | 8.0 | 1.73% | +1.7 | Not significant (t 0.6) | 3.6 (18 days) |
| 18 | METD | Direxion Daily META Bear 1X ETF | Direxion | 8.3 | 1.74% | −4.3 | Not significant (t −1.6) | 3.6 (17 days) |
| 19 | SKHZ | Leverage Shares 1X Short SK Hynix Daily ETF | Leverage Shares | 8.5 | 1.63% | +4.1 | Not significant (t 1.6) | 5.5 (12 days) |
| 20 | EUM | ProShares Short MSCI Emerging Markets | ProShares | 8.7 | 1.88% | −2.4 | Not significant (t −0.8) | not read |
| 21 | SPDN | Direxion Daily S&P 500 Bear 1X ETF | Direxion | 9.2 | 1.71% | −0.5 | Not significant (t −0.2) | 5.0 (20 days) |
| 22 | YXI | ProShares Short FTSE China 50 | ProShares | 9.2 | 2.22% | +2.4 | Not significant (t 0.7) | not read |
| 23 | TBF | ProShares Short 20+ Year Treasury | ProShares | 9.3 | 1.80% | −4.5 | Not significant (t −1.6) | 2.7 (60 days) |
| 24 | AVS | Direxion Daily AVGO Bear 1X ETF | Direxion | 9.4 | 1.87% | +5.0 | Not significant (t 1.8) | 4.1 (19 days) |
| 25 | AAPD | Direxion Daily AAPL Bear 1X ETF | Direxion | 9.6 | 1.77% | +5.4 | Not significant (t 1.9) | 3.9 (19 days) |
| 26 | SETH | ProShares Short Ether ETF | ProShares | 9.7 | 1.95% | −1.7 | Not significant (t −0.5) | 7.9 (61 days) |
| 27 | PALD | Direxion Daily PANW Bear 1X ETF | Direxion | 9.8 | 1.83% | +0.1 | Not significant (t 0.0) | 4.6 (17 days) |
| 28 | CSCS | Direxion Daily CSCO Bear 1X ETF | Direxion | 9.9 | 2.12% | +1.1 | Not significant (t 0.3) | 3.1 (19 days) |
| 29 | QCMD | Direxion Daily QCOM Bear 1X ETF | Direxion | 10.4 | 2.18% | −1.5 | Not significant (t −0.5) | 4.6 (18 days) |
| 30 | PLTD | Direxion Daily PLTR Bear 1X ETF | Direxion | 11.0 | 2.24% | −1.3 | Not significant (t −0.3) | 6.2 (17 days) |
| 31 | SARK | Tradr 1X Short Innovation Daily ETF | Tradr | 11.1 | 2.29% | −7.3 | Significant (t −2.1) | not read |
| 32 | MUD | Direxion Daily MU Bear 1X ETF | Direxion | 11.2 | 2.59% | +5.0 | Not significant (t 1.2) | 4.5 (19 days) |
| 33 | TSMZ | Direxion Daily TSM Bear 1X ETF | Direxion | 12.3 | 2.39% | +6.2 | Not significant (t 1.6) | 6.5 (20 days) |
| 34 | ORCS | Direxion Daily ORCL Bear 1X ETF | Direxion | 16.7 | 3.40% | −10.7 | Significant (t −2.0) | 2.8 (19 days) |

### Method

The daily miss is the fund's return each day less minus one times its underlying's return that day, in basis points (hundredths of a percentage point), averaged over the 90 days to the date above, on closing prices for every fund. Smaller is closer. Tracking error is the spread of the daily misses, annualized. Up days less down days compares the average miss on days the underlying rose with days it fell; Significant means the gap is at least two standard errors from zero. The NAV reading is the same miss on the issuer's NAV, where ETFIQ holds it for the fund and its underlying. 2 more funds in this set are measured and not ranked; each fund page says why. The list sorts one published number, with no scoring or weighting. Every one of the 36 1x inverse ETFs ETFIQ measures is eligible.

### 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, 1x inverse ETFs ranked by daily tracking, ranked by average daily miss, smallest first, data as of Nov 4, 2026. https://etfiq.com/leveraged-etf-tracking/one-times-inverse/
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/leveraged-etf-tracking/one-times-inverse/