FLYU vs. PIT

Last updated Jun 23, 2026

FLYU (MicroSectors Travel 3X Leveraged ETNs) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - FLYU is a Leveraged Equities fund tracking the MerQube MicroSectors U.S. Travel Index, while PIT is a Commodities fund actively managed by VanEck. FLYU is passively managed, while PIT is actively managed. Over the past 3 years, FLYU returned 9.27%/yr vs 19.51%/yr for PIT. At a correlation of -0.03, they often move in opposite directions. FLYU charges 0.95%/yr vs 0.55%/yr for PIT.

Performance

FLYU vs. PIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Travel 3X Leveraged ETNs (FLYU) and VanEck Commodity Strategy ETF (PIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLYU achieves a -11.82% return, which is significantly lower than PIT's 27.31% return.

FLYU

• 1D: -3.30%
• 1M: 22.82%
• YTD: -11.82%
• 6M: -19.01%
• 1Y: 16.01%
• 3Y*: 9.27%
• 5Y*: —
• 10Y*: —

PIT

• 1D: -0.75%
• 1M: -10.60%
• YTD: 27.31%
• 6M: 26.74%
• 1Y: 38.33%
• 3Y*: 19.51%
• 5Y*: —
• 10Y*: —

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

FLYU vs. PIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FLYU MicroSectors Travel 3X Leveraged ETNs	-11.82%	-2.29%	33.00%	111.16%	-6.19%
PIT VanEck Commodity Strategy ETF	27.31%	21.63%	6.77%	-4.54%	1.67%

Correlation

The correlation between FLYU and PIT is -0.24, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.24
Correlation (3Y) Calculated over the trailing 3-year period	-0.08
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022	-0.03

Over the past year, the inverse relationship between FLYU and PIT has strengthened: their correlation has moved from -0.03 to -0.24, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

FLYU vs. PIT — Risk / Return Rank

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

FLYU

FLYU Risk / Return Rank: 13
FLYU Sharpe Ratio Rank: 11
FLYU Sortino Ratio Rank: 16
FLYU Omega Ratio Rank: 15
FLYU Calmar Ratio Rank: 12
FLYU Martin Ratio Rank: 11

PIT

PIT Risk / Return Rank: 55
PIT Sharpe Ratio Rank: 54
PIT Sortino Ratio Rank: 48
PIT Omega Ratio Rank: 52
PIT Calmar Ratio Rank: 57
PIT Martin Ratio Rank: 62

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.

FLYU vs. PIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Travel 3X Leveraged ETNs (FLYU) and VanEck Commodity Strategy ETF (PIT). 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	PIT	Difference
Sharpe ratio: Return per unit of total volatility	0.21	1.78	-1.57
Sortino ratio: Return per unit of downside risk	0.87	2.32	-1.45
Omega ratio: Gain probability vs. loss probability	1.10	1.32	-0.22
Calmar ratio: Return relative to maximum drawdown	0.31	2.74	-2.43
Martin ratio: Return relative to average drawdown	0.64	10.88	-10.24

FLYU vs. PIT - Sharpe Ratio Comparison

The current FLYU Sharpe Ratio is 0.21, which is lower than the PIT Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of FLYU and PIT, 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. PIT - Drawdown Comparison

The maximum FLYU drawdown since its inception was -69.00%, which is greater than PIT's maximum drawdown of -14.05%. Use the drawdown chart below to compare losses from any high point for FLYU and PIT.

Drawdown Indicators

	FLYU	PIT	Difference
Max Drawdown Largest peak-to-trough decline	-69.00%	-14.05%	-54.95%
Max Drawdown (1Y) Largest decline over 1 year	-52.33%	-14.05%	-38.28%
Max Drawdown (3Y) Largest decline over 3 years	-69.00%	-14.05%	-54.95%
Current Drawdown Current decline from peak	-30.05%	-14.05%	-16.00%
Average Drawdown Average peak-to-trough decline	-26.54%	-4.07%	-22.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.23%	3.59%	+21.64%

Volatility

FLYU vs. PIT - Volatility Comparison

MicroSectors Travel 3X Leveraged ETNs (FLYU) has a higher volatility of 23.71% compared to VanEck Commodity Strategy ETF (PIT) at 4.67%. This indicates that FLYU's price experiences larger fluctuations and is considered to be riskier than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLYU	PIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.71%	4.67%	+19.04%
Volatility (6M) Calculated over the trailing 6-month period	60.05%	19.36%	+40.69%
Volatility (1Y) Calculated over the trailing 1-year period	75.08%	21.66%	+53.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.26%	17.50%	+65.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.26%	17.50%	+65.76%

FLYU vs. PIT - Expense Ratio Comparison

FLYU has a 0.95% expense ratio, which is higher than PIT's 0.55% expense ratio.

Dividends

FLYU vs. PIT - Dividend Comparison

FLYU has not paid dividends to shareholders, while PIT's dividend yield for the trailing twelve months is around 7.00%.

Position	TTM	2025	2024	2023
FLYU MicroSectors Travel 3X Leveraged ETNs	0.00%	0.00%	0.00%	0.00%
PIT VanEck Commodity Strategy ETF	7.00%	8.92%	3.59%	6.44%

Frequently Asked Questions

Can I hold both FLYU and PIT in my portfolio?

FLYU and PIT have a correlation of -0.24, 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 PIT?

FLYU has higher volatility (23.71%) compared to PIT (4.67%). In terms of maximum drawdown, FLYU dropped -69.00% vs PIT's -14.05%.

Which ETF is better, FLYU or PIT?

On 3-year performance, PIT leads with 19.51% vs 9.27% for FLYU. On fees, PIT is cheaper at 0.55% per year. On volatility, PIT has been the lower-risk option at 4.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLYU or PIT?

Over the 3-year period, PIT has performed better with a 19.51% return vs 9.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLYU or PIT?

PIT is cheaper with a 0.55% expense ratio, compared with 0.95% for FLYU.

Which ETF pays a higher dividend yield, FLYU or PIT?

PIT has the higher dividend yield at 7.00%, compared with 0.00% for FLYU.

What is the main difference between FLYU and PIT?

FLYU is categorized as Leveraged Equities, while PIT is Commodities. They also come from different issuers: REX and VanEck. Their fees differ too: 0.95% for FLYU and 0.55% for PIT.

Which has better risk-adjusted returns?

PIT currently has the higher Sharpe Ratio (1.78 vs 0.21), 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.