MAX Airlines -3X Inverse Leveraged ETN (JETD)
JETD is a passive ETF by Max tracking the investment results of the Prime Airlines Index - Benchmark TR Net (--300%). JETD launched on Jun 20, 2023 and has a 0.95% expense ratio.
ETF Info
| Issuer | Max |
|---|---|
| Inception Date | Jun 20, 2023 |
| Region | North America (U.S.) |
| Category | Inverse Equities, Leveraged |
| Leveraged | 1x |
| Index Tracked | Prime Airlines Index - Benchmark TR Net (--300%) |
| Asset Class | Equity |
Expense Ratio
JETD has a high expense ratio of 0.95%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in MAX Airlines -3X Inverse Leveraged ETN, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
MAX Airlines -3X Inverse Leveraged ETN had a return of -19.22% year-to-date (YTD) and -35.33% in the last 12 months.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | -19.22% | 18.10% |
| 1 month | -19.53% | 1.42% |
| 6 months | -17.62% | 10.08% |
| 1 year | -35.33% | 26.58% |
| 5 years (annualized) | N/A | 13.42% |
| 10 years (annualized) | N/A | 10.87% |
Monthly Returns
The table below presents the monthly returns of JETD, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 8.58% | -15.50% | -11.67% | 10.21% | -5.20% | -0.88% | 0.46% | -1.68% | -19.22% | ||||
| 2023 | -12.65% | 0.68% | 19.82% | 34.62% | 22.00% | -28.71% | -19.13% | -0.23% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of JETD is 3, indicating that it is in the bottom 3% of ETFs on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for MAX Airlines -3X Inverse Leveraged ETN (JETD) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Worst Drawdowns
The table below displays the maximum drawdowns of the MAX Airlines -3X Inverse Leveraged ETN. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the MAX Airlines -3X Inverse Leveraged ETN was 58.45%, occurring on May 14, 2024. The portfolio has not yet recovered.
The current MAX Airlines -3X Inverse Leveraged ETN drawdown is 56.60%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -58.45% | Oct 30, 2023 | 136 | May 14, 2024 | — | — | — |
| -21.84% | Jun 26, 2023 | 11 | Jul 11, 2023 | 27 | Aug 17, 2023 | 38 |
| -6.74% | Oct 4, 2023 | 6 | Oct 11, 2023 | 2 | Oct 13, 2023 | 8 |
| -6.69% | Aug 25, 2023 | 3 | Aug 29, 2023 | 4 | Sep 5, 2023 | 7 |
| -4.11% | Oct 16, 2023 | 2 | Oct 17, 2023 | 1 | Oct 18, 2023 | 3 |
Volatility
Volatility Chart
The current MAX Airlines -3X Inverse Leveraged ETN volatility is 15.21%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.