FLYU vs. AEO

Last updated Aug 2, 2026

FLYU (MicroSectors Travel 3X Leveraged ETNs) is Leveraged Equities fund tracking the MerQube MicroSectors U.S. Travel Index, while AEO (American Eagle Outfitters, Inc.) is a stock. Over the past 3 years, FLYU returned 0.98%/yr vs 8.60%/yr for AEO. Their 0.48 correlation means their historical movements had little consistent relationship.

Performance

FLYU vs. AEO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Travel 3X Leveraged ETNs (FLYU) and American Eagle Outfitters, Inc. (AEO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLYU achieves a -14.35% return, which is significantly higher than AEO's -33.61% return.

FLYU

• 1D: -2.10%
• 1M: -9.79%
• 6M: -1.73%
• YTD: -14.35%
• 1Y: -4.05%
• 3Y*: 0.98%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.94%

AEO

• 1D: -0.75%
• 1M: 5.16%
• 6M: -25.24%
• YTD: -33.61%
• 1Y: 64.35%
• 3Y*: 8.60%
• 5Y*: -10.47%
• 10Y*: 2.34%
• ALL TIME*: 12.14%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AEO American Eagle Outfitters, Inc.	$66.40M	$74.01M	$86.53M
FLYU MicroSectors Travel 3X Leveraged ETNs	$41.17K	$39.32K	$61.70K

FLYU vs. AEO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FLYU MicroSectors Travel 3X Leveraged ETNs	-14.35%	-2.29%	33.00%	111.16%	-19.09%
AEO American Eagle Outfitters, Inc.	-33.61%	64.66%	-19.34%	54.86%	20.58%

Correlation

The correlation between FLYU and AEO is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.47
Correlation (3Y) Balances recent behavior with more history.	0.47
Correlation (All Time) Calculated using the full available price history since Jun 22, 2022	0.48

Return for Risk

FLYU vs. AEO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FLYU

FLYU Risk / Return Rank: 10
FLYU Sharpe Ratio Rank: 9
FLYU Sortino Ratio Rank: 14
FLYU Omega Ratio Rank: 13
FLYU Calmar Ratio Rank: 8
FLYU Martin Ratio Rank: 8

AEO

AEO Risk / Return Rank: 74
AEO Sharpe Ratio Rank: 74
AEO Sortino Ratio Rank: 78
AEO Omega Ratio Rank: 76
AEO Calmar Ratio Rank: 72
AEO Martin Ratio Rank: 68

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FLYU vs. AEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Travel 3X Leveraged ETNs (FLYU) and American Eagle Outfitters, Inc. (AEO). 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.

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.

	FLYU	AEO	Difference
Sharpe ratio: Return per unit of total volatility	-0.14	0.91	-1.05
Sortino ratio: Return per unit of downside risk	0.34	1.94	-1.60
Omega ratio: Gain probability vs. loss probability	1.04	1.24	-0.20
Calmar ratio: Return relative to maximum drawdown	-0.21	1.37	-1.57
Martin ratio: Return relative to average drawdown	-0.41	2.45	-2.86

FLYU vs. AEO - Sharpe Ratio Comparison

The current FLYU Sharpe Ratio is -0.14, which is lower than the AEO Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of FLYU and AEO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FLYU vs. AEO - Drawdown Comparison

The maximum FLYU drawdown since its inception was -69.00%, smaller than the maximum AEO drawdown of -80.67%. Use the drawdown chart below to compare losses from any high point for FLYU and AEO.

Drawdown Indicators

	FLYU	AEO	Difference
Max Drawdown Largest peak-to-trough decline	-69.00%	-80.67%	+11.67%
Max Drawdown (1Y) Largest decline over 1 year	-52.33%	-46.69%	-5.64%
Max Drawdown (3Y) Largest decline over 3 years	-69.00%	-63.13%	-5.87%
Max Drawdown (5Y) Largest decline over 5 years	—	-71.49%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-75.67%	—
Current Drawdown Current decline from peak	-32.06%	-47.36%	+15.30%
Average Drawdown Average peak-to-trough decline	-26.65%	-37.93%	+11.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.23%	26.01%	+0.22%

Volatility

FLYU vs. AEO - Volatility Comparison

MicroSectors Travel 3X Leveraged ETNs (FLYU) has a higher volatility of 21.04% compared to American Eagle Outfitters, Inc. (AEO) at 14.20%. This indicates that FLYU's price experiences larger fluctuations and is considered to be riskier than AEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLYU	AEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.04%	14.20%	+6.84%
Volatility (6M) Calculated over the trailing 6-month period	61.81%	38.04%	+23.77%
Volatility (1Y) Calculated over the trailing 1-year period	76.03%	70.08%	+5.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	82.98%	54.30%	+28.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	82.98%	51.94%	+31.04%

Dividends

FLYU vs. AEO - Dividend Comparison

FLYU has not paid dividends to shareholders, while AEO's dividend yield for the trailing twelve months is around 2.91%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AEO American Eagle Outfitters, Inc.	2.91%	1.90%	3.00%	1.42%	2.58%	3.22%	1.37%	2.81%	2.85%	2.66%	3.30%	3.23%
FLYU MicroSectors Travel 3X Leveraged ETNs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLYU and AEO in my portfolio?

FLYU and AEO have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLYU or AEO?

FLYU has higher volatility (21.04%) compared to AEO (14.20%). In terms of maximum drawdown, FLYU dropped -69.00% vs AEO's -80.67%.

Which has better risk-adjusted returns?

AEO currently has the higher Sharpe Ratio (0.91 vs -0.14), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.