# The ETFIQ Promise Index, 2026-Q4

> As of Nov 3, 2026, 68.0% of measured US ETFs (1,199 of 1,764) delivered on their category's promise, covering 97.8% of measured assets.

Data as of Nov 3, 2026. Rebuilt every trading night.

By ETFIQ Research. Data as of Nov 3, 2026, published Nov 4, 2026.

## The ETFIQ Promise Index, 2026-Q4

As of Nov 3, 2026, 68.0% of measured US ETFs (1,199 of 1,764) delivered on their category's promise, covering 97.8% of measured assets.

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68.0% of 1,764 measured funds delivered

97.8% of measured net assets sit in funds that delivered

291 of 1,764 missed their own promise

53.0% of all net assets (3,306 funds) could not be measured

What this study found - Income funds missed most. 190 of 322 measured income ETFs missed.

- 1,802 of 1,879 stock ETFs could not be tested.

### Results by category

Buffer 55 of 55 delivered

Commodities 21 of 21 delivered

Stocks 76 of 77 delivered

Bonds 531 of 550 delivered

Crypto 51 of 54 delivered

Alternatives 16 of 21 delivered

Leverage 366 of 655 delivered

Allocation 5 of 9 delivered

Income 78 of 322 delivered

Themes not measured (427 funds)

Green delivered, grey partly, red missed.

| Category | Funds | Measured | Delivered | Partly | Missed | Funds that delivered | Net assets that delivered | Net assets not measured |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Buffer | 524 | 55 | 55 | 0 | 0 | 100.0% | 100.0% | 84.7% |
| Commodities | 68 | 21 | 21 | 0 | 0 | 100.0% | 100.0% | 12.7% |
| Stocks | 1,879 | 77 | 76 | 1 | 0 | 98.7% | 100.0% | 60.5% |
| Bonds | 844 | 550 | 531 | 15 | 4 | 96.5% | 98.6% | 23.4% |
| Crypto | 70 | 54 | 51 | 1 | 2 | 94.4% | 99.6% | 1.8% |
| Alternatives | 90 | 21 | 16 | 4 | 1 | 76.2% | 69.1% | 69.5% |
| Leverage | 731 | 655 | 366 | 196 | 93 | 55.9% | 84.9% | 3.1% |
| Allocation | 60 | 9 | 5 | 3 | 1 | 55.6% | 93.5% | 61.4% |
| Income | 377 | 322 | 78 | 54 | 190 | 24.2% | 48.3% | 0.5% |
| Themes | 427 | 0 | 0 | 0 | 0 | not measured | not measured | 100.0% |
| All categories | 5,070 | 1,764 | 1,199 | 274 | 291 | 68.0% | 97.8% | 53.0% |

68.0% of funds delivered, but 97.8% of assets did. Big stock and bond funds nearly all delivered. Many income and leveraged funds did not.

### Largest misses

Two largest per category. Gap is in each test’s own unit.

| Ticker | Fund | Category | Test | Gap | Window | Net assets |
| --- | --- | --- | --- | --- | --- | --- |
| BSJQ | Invesco BulletShares 2026 High Yield Corporate Bond ETF | Bonds | Duration and credit against its name | 33.5% | its latest N-PORT, Aug 31, 2026 | $669.1m |
| IBHF | iShares iBonds 2026 Term High Yield and Income ETF | Bonds | Duration and credit against its name | 29.9% | its latest N-PORT, Jul 31, 2026 | $610.7m |
| GSUI | Grayscale Sui Staking ETF | Crypto | Tracking its coin, net of its fee | −24.3 pts | since launch, Nov 24, 2025 to Nov 3, 2026 | $21.0m |
| LTCN | Grayscale Litecoin Trust (LTC) | Crypto | Tracking its coin, net of its fee | −10.2 pts | 1 year, Nov 3, 2025 to Nov 3, 2026 | not published |
| BTAL | AGF U.S. Market Neutral Anti-Beta Fund | Alternatives | Its stated objective | −0.67 | 52 weeks, Nov 4, 2025 to Nov 3, 2026 | $282.9m |
| TSLL | Direxion Daily TSLA Bull 2X ETF | Leverage | Against its daily multiple, compounded | −4.5 pts | 3 months, Aug 4, 2026 to Nov 3, 2026 | $3.7bn |
| BITX | 2x Bitcoin ETF | Leverage | Against its daily multiple, compounded | −4.4 pts | 3 months, Aug 4, 2026 to Nov 3, 2026 | $1.0bn |
| XRLX | FundX Conservative ETF | Allocation | Stock share against its name | 2 bands off | its latest N-PORT, Jun 30, 2026 | $49.5m |
| QQQI | NEOS Nasdaq-100 High Income ETF | Income | Total return against the cash paid | 43.8% | 1 year, Nov 3, 2025 to Nov 3, 2026 | $15.5bn |
| TLTW | iShares TLT Premium Income+ ETF | Income | Total return against the cash paid | −12.6% | 1 year, Nov 3, 2025 to Nov 3, 2026 | $1.6bn |

### Clean deliveries

| Ticker | Fund | Category | Test | Gap | Window | Net assets |
| --- | --- | --- | --- | --- | --- | --- |
| BALT | Innovator Defined Wealth Shield ETF - Quarterly | Buffer | Outcome against the stated cap and buffer | +0.10 pts | finished outcome period, Jun 30, 2026 to Sep 30, 2026 | $3.2bn |
| GLD | SPDR Gold Shares | Commodities | Tracking its own index | +0.04 pts | 1 year, Nov 3, 2025 to Nov 3, 2026 | $132.3bn |
| VOO | Vanguard S&P 500 ETF | Stocks | Tracking its own index | 0.00 pts | 1 year, Nov 3, 2025 to Nov 3, 2026 | $1.0tn |
| BND | Vanguard Total Bond Market ETF | Bonds | Duration and credit against its name | +0.04 pts | 1 year, Nov 3, 2025 to Nov 3, 2026 | $161.4bn |
| IBIT | iShares Bitcoin Trust ETF | Crypto | Tracking its coin, net of its fee | +0.01 pts | 1 year, Nov 3, 2025 to Nov 3, 2026 | $62.4bn |
| HELO | JPMorgan Hedged Equity Laddered Overlay ETF | Alternatives | Its stated objective | 55.9% | 52 weeks, Nov 4, 2025 to Nov 3, 2026 | $4.9bn |
| TQQQ | ProShares UltraPro QQQ | Leverage | Against its daily multiple, compounded | −2.0 pts | 3 months, Aug 4, 2026 to Nov 3, 2026 | $32.5bn |
| AOR | iShares Core 60/40 Balanced Allocation ETF | Allocation | Stock share against its name | +1.1 pts | its latest N-PORT, Jul 31, 2026 | $3.9bn |
| JEPI | JPMorgan Equity Premium Income ETF | Income | Total return against the cash paid | 124.7% | 1 year, Nov 3, 2025 to Nov 3, 2026 | $46.1bn |

### What was not measured

3,306 of 5,070 funds could not be tested. They hold 53.0% of all net assets.

| Reason | Funds |
| --- | --- |
| Names no index to track | 1,118 |
| Index no other ETF tracks | 1,013 |
| Buffer, no finished outcome period | 459 |
| No objective ETFIQ can measure | 60 |
| Leveraged, no three-month number | 71 |
| Income, paid no cash in window | 55 |
| Name gives no stock share | 51 |
| Other, named on the fund page | 479 |

### How each is tested

Tests are in the method .

| Category | It promises to | Test | Window |
| --- | --- | --- | --- |
| Buffer | Pay the outcome its cap and buffer state | Outcome against the stated cap and buffer | finished outcome period |
| Commodities | Track the asset or index it names | Tracking its own index | 1 year |
| Stocks | Track the index it names | Tracking its own index | 1 year |
| Bonds | Hold the duration and credit its name states, and track its index | Duration and credit against its name | 1 year, its latest N-PORT |
| Crypto | Track its coin, less its fee | Tracking its coin, net of its fee | 1 year, since launch |
| Alternatives | Meet the objective its strategy states | Its stated objective | 52 weeks |
| Leverage | Deliver its multiple of each day's move | Against its daily multiple, compounded | 3 months, month, quarter |
| Allocation | Hold the stock share its name states | Stock share against its name | its latest N-PORT |
| Income | Pay income without spending the holder's capital | Total return against the cash paid | 1 year, since launch |
| Themes | Hold its theme | Exposure to its theme | none measured |

### Limits

One night’s data. Each category has its own test window.

Delivered is a test result, not a recommendation.

12 measured crypto funds publish no net assets, so count in funds only.

### Check it yourself

Data file Every measured fund, with counts and reasons https://etfiq.com/data/quarterly/2026-q4-promise.json

### Where to next

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Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ, The ETFIQ Promise Index, 2026-Q4, data as of Nov 4, 2026. https://etfiq.com/research/quarterly/2026-q4-promise-index/
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/research/quarterly/2026-q4-promise-index/