ELIS vs. JETD

Last updated Jun 4, 2026

ELIS (Direxion Daily LLY Bear 1X Shares) and JETD (MAX Airlines -3X Inverse Leveraged ETN) are both Inverse Equities funds. ELIS is actively managed, while JETD is passively managed. At a 0.27 correlation, their price movements are largely independent. ELIS charges 0.97%/yr vs 0.95%/yr for JETD.

Performance

ELIS vs. JETD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily LLY Bear 1X Shares (ELIS) and MAX Airlines -3X Inverse Leveraged ETN (JETD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ELIS

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JETD

• 1D: 6.89%
• 1M: -26.54%
• YTD: -28.36%
• 6M: -38.79%
• 1Y: -63.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ELIS vs. JETD - Yearly Performance Comparison

	2026 (YTD)	2025
ELIS Direxion Daily LLY Bear 1X Shares	11.37%	-29.46%
JETD MAX Airlines -3X Inverse Leveraged ETN	-28.36%	-65.88%

Correlation

The correlation between ELIS and JETD is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	0.27

Return for Risk

ELIS vs. JETD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JETD

JETD Risk / Return Rank: 2
JETD Sharpe Ratio Rank: 2
JETD Sortino Ratio Rank: 2
JETD Omega Ratio Rank: 2
JETD Calmar Ratio Rank: 1
JETD Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ELIS vs. JETD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily LLY Bear 1X Shares (ELIS) and MAX Airlines -3X Inverse Leveraged ETN (JETD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ELIS	JETD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.88	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	-0.70	—

Drawdowns

Drawdown Indicators

	ELIS	JETD	Difference
Max Drawdown Largest peak-to-trough decline	—	-93.69%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-71.95%	—
Current Drawdown Current decline from peak	—	-92.55%	—
Average Drawdown Average peak-to-trough decline	—	-61.36%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	46.84%	—

Volatility

Volatility by Period

	ELIS	JETD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	28.81%	—
Volatility (6M) Calculated over the trailing 6-month period	—	58.96%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	72.36%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	70.51%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	70.51%	—

ELIS vs. JETD - Expense Ratio Comparison

ELIS has a 0.97% expense ratio, which is higher than JETD's 0.95% expense ratio.

Dividends

ELIS vs. JETD - Dividend Comparison

ELIS's dividend yield for the trailing twelve months is around 5.26%, while JETD has not paid dividends to shareholders.

Position	TTM	2025
ELIS Direxion Daily LLY Bear 1X Shares	5.26%	5.86%
JETD MAX Airlines -3X Inverse Leveraged ETN	0.00%	0.00%

Frequently Asked Questions

Can I hold both ELIS and JETD in my portfolio?

ELIS and JETD have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ELIS or JETD?

On fees, JETD is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ELIS or JETD?

JETD is cheaper with a 0.95% expense ratio, compared with 0.97% for ELIS.

Which ETF pays a higher dividend yield, ELIS or JETD?

ELIS has the higher dividend yield at 5.26%, compared with 0.00% for JETD.

What is the main difference between ELIS and JETD?

They also come from different issuers: Direxion and Max. Their fees differ too: 0.97% for ELIS and 0.95% for JETD.