- Issuer
- Max
- Inception Date
- Jun 20, 2023
- Region
- North America (U.S.)
- Category
- Leveraged Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- Prime Airlines Index - Benchmark TR Net
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Assets Under Management
- $5M
Highlights
- Avg. Volume (1M)
- 3K
- Avg. Volume Value (1M)
- $100.76K
Share Price Chart
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Performance
JETU Performance Chart
MAX Airlines 3X Leveraged ETN (JETU) is up 22.4% since the beginning of the year. JETU is currently trading at $36 per share.
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Returns By Period
MAX Airlines 3X Leveraged ETN (JETU) has returned 22.36% so far this year and 81.27% over the past 12 months.
MAX Airlines 3X Leveraged ETN
- 1D
- -0.51%
- 1M
- -13.06%
- 6M
- 13.19%
- YTD
- 22.36%
- 1Y
- 81.27%
- 3Y*
- 11.13%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 13.36%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
JETU Monthly Returns History
Based on dividend-adjusted daily data since Jun 21, 2023, JETU's average daily return is +0.15%, while the average monthly return is +2.58%. At this rate, an investment would double in approximately 2.3 years.
Historically, 58% of months were positive and 42% were negative. The best month was May 2025 with a return of +37.6%, while the worst month was Mar 2026 at -34.0%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 4 months.
On a daily basis, JETU closed higher 52% of trading days. The best single day was Apr 9, 2025 with a return of +43.9%, while the worst single day was Apr 3, 2025 at -26.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 8.10% | 11.85% | -33.96% | 8.40% | 32.53% | 18.79% | -10.21% | 22.36% | |||||
| 2025 | 6.31% | -11.67% | -30.42% | -22.20% | 37.55% | 2.96% | 4.39% | 16.47% | -12.57% | 5.98% | 7.16% | 19.53% | 3.88% |
| 2024 | -12.31% | 15.52% | 10.75% | -12.58% | 2.54% | -1.17% | -4.14% | -3.80% | 13.24% | 10.51% | 22.31% | -1.62% | 38.00% |
| 2023 | 14.64% | -3.18% | -18.57% | -27.33% | -21.10% | 35.62% | 19.81% | -15.80% |
Benchmark Metrics
MAX Airlines 3X Leveraged ETN has an annualized alpha of -22.91%, beta of 3.46, and R2 of 0.52 versus S&P 500 Index. Calculated based on daily prices since June 21, 2023.
- This ETF captured 321.30% of S&P 500 Index gains and 309.88% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- This ETF had an annualized alpha of -22.91% versus S&P 500 Index - delivering less than market exposure alone would predict.
- Beta of 3.46 means this ETF moves significantly more than S&P 500 Index - expect amplified gains in rallies and amplified losses in downturns.
- Alpha
- -22.91%
- Beta
- 3.46
- R²
- 0.52
- Upside Capture
- 321.30%
- Downside Capture
- 309.88%
Expense Ratio
JETU has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
JETU ranks 40 for risk / return — above 40% of ETFs peers on PortfoliosLab. Its historical combined result is near the middle of the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for MAX Airlines 3X Leveraged ETN (JETU) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| JETU | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.25 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 2.00 | -0.60 |
| Martin ratioReturn relative to average drawdown | 3.48 | 8.49 | -5.02 |
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the MAX Airlines 3X 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 Leveraged ETN was 68.64%, occurring on Apr 8, 2025. Recovery took 187 trading sessions.
The current MAX Airlines 3X Leveraged ETN drawdown is 13.90%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-68.64%Apr 2025 | 2mo 16d | 9mo 3d | 11mo 19dJan 2025 - Jan 2026 | 2025 selloff2025 |
-60.59%Oct 2023 | 3mo 17d | 1y 2mo | 1y 6moJul 2023 - Jan 2025 | — |
-49.39%Mar 2026 | 1mo 19d | 3mo 4d | 4mo 23dFeb 2026 - Jul 2026 | — |
-20.76%Jul 2026 | 13d | — | 26dJul 2026 - now | — |
-13.54%Jan 2026 | 12d | 6d | 18dJan 2026 - Feb 2026 | — |
Drawdown Indicators
| JETU | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.64% | -56.78% | -11.86% |
Max Drawdown (1Y)Largest decline over 1 year | -49.39% | -9.10% | -40.29% |
Max Drawdown (3Y)Largest decline over 3 years | -68.64% | -18.90% | -49.74% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -13.90% | -1.58% | -12.32% |
Average DrawdownAverage peak-to-trough decline | -28.68% | -10.70% | -17.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.97% | 2.14% | +17.83% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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