JBLU vs. ULCC

Last updated Apr 2, 2026

Compare and contrast key facts about JetBlue Airways Corporation (JBLU) and Frontier Group Holdings, Inc. (ULCC).

Performance

JBLU vs. ULCC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JetBlue Airways Corporation (JBLU) and Frontier Group Holdings, Inc. (ULCC). The values are adjusted to include any dividend payments, if applicable.

JBLU vs. ULCC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JBLU JetBlue Airways Corporation	0.00%	-42.11%	41.62%	-14.35%	-54.49%	-30.09%
ULCC Frontier Group Holdings, Inc.	-20.38%	-33.76%	30.22%	-46.84%	-24.32%	-28.01%

Fundamentals

Market Cap JBLU : $1.68B ULCC : $862.39M
EPS JBLU : -$1.65 ULCC : -$0.60
PS Ratio JBLU : 0.18 ULCC : 0.23
PB Ratio JBLU : 0.79 ULCC : 1.99
Total Revenue (TTM) JBLU : $9.06B ULCC : $3.72B
Gross Profit (TTM) JBLU : $3.07B ULCC : $1.32B
EBITDA (TTM) JBLU : $494.00M ULCC : -$38.00M

Returns By Period

JBLU

• 1D: 2.94%
• 1M: -12.84%
• YTD: 0.00%
• 6M: -2.78%
• 1Y: -4.81%
• 3Y*: -14.50%
• 5Y*: -25.90%
• 10Y*: -14.32%

ULCC

• 1D: 6.23%
• 1M: -7.18%
• YTD: -20.38%
• 6M: -10.39%
• 1Y: -13.19%
• 3Y*: -27.50%
• 5Y*: —
• 10Y*: —

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

Return for Risk

JBLU vs. ULCC — Risk / Return Rank

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

JBLU

JBLU Risk / Return Rank: 37
JBLU Sharpe Ratio Rank: 36
JBLU Sortino Ratio Rank: 38
JBLU Omega Ratio Rank: 37
JBLU Calmar Ratio Rank: 36
JBLU Martin Ratio Rank: 36

ULCC

ULCC Risk / Return Rank: 35
ULCC Sharpe Ratio Rank: 33
ULCC Sortino Ratio Rank: 39
ULCC Omega Ratio Rank: 37
ULCC Calmar Ratio Rank: 33
ULCC Martin Ratio Rank: 31

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.

JBLU vs. ULCC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JetBlue Airways Corporation (JBLU) and Frontier Group Holdings, Inc. (ULCC). 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.

	JBLU	ULCC	Difference
Sharpe ratio Return per unit of total volatility	-0.07	-0.16	+0.08
Sortino ratio Return per unit of downside risk	0.37	0.39	-0.02
Omega ratio Gain probability vs. loss probability	1.05	1.04	0.00
Calmar ratio Return relative to maximum drawdown	-0.15	-0.26	+0.11
Martin ratio Return relative to average drawdown	-0.32	-0.62	+0.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JBLU vs. ULCC - Sharpe Ratio Comparison

The current JBLU Sharpe Ratio is -0.07, which is higher than the ULCC Sharpe Ratio of -0.16. The chart below compares the historical Sharpe Ratios of JBLU and ULCC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	JBLU	ULCC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.07	-0.16	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.44	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.09	-0.41	+0.32

Correlation

The correlation between JBLU and ULCC is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

JBLU vs. ULCC - Dividend Comparison

Neither JBLU nor ULCC has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

JBLU vs. ULCC - Drawdown Comparison

The maximum JBLU drawdown since its inception was -90.91%, roughly equal to the maximum ULCC drawdown of -87.04%. Use the drawdown chart below to compare losses from any high point for JBLU and ULCC.

Drawdown Indicators

	JBLU	ULCC	Difference
Max Drawdown Largest peak-to-trough decline	-90.91%	-87.04%	-3.87%
Max Drawdown (1Y) Largest decline over 1 year	-37.62%	-52.45%	+14.83%
Max Drawdown (5Y) Largest decline over 5 years	-83.88%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-85.58%	—	—
Current Drawdown Current decline from peak	-85.43%	-82.88%	-2.55%
Average Drawdown Average peak-to-trough decline	-60.25%	-59.67%	-0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.36%	22.08%	-4.72%

Volatility

JBLU vs. ULCC - Volatility Comparison

JetBlue Airways Corporation (JBLU) has a higher volatility of 22.53% compared to Frontier Group Holdings, Inc. (ULCC) at 19.77%. This indicates that JBLU's price experiences larger fluctuations and is considered to be riskier than ULCC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JBLU	ULCC	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.53%	19.77%	+2.76%
Volatility (6M) Calculated over the trailing 6-month period	43.36%	51.21%	-7.85%
Volatility (1Y) Calculated over the trailing 1-year period	65.85%	84.62%	-18.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.70%	68.04%	-9.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.61%	68.04%	-14.43%

Financials

JBLU vs. ULCC - Profitability Comparison

The chart below illustrates the profitability comparison between JetBlue Airways Corporation and Frontier Group Holdings, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

JBLU - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, JetBlue Airways Corporation reported a gross profit of 1.01B and revenue of 2.24B. Therefore, the gross margin over that period was 45.2%.

ULCC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Frontier Group Holdings, Inc. reported a gross profit of 464.00M and revenue of 997.00M. Therefore, the gross margin over that period was 46.5%.

JBLU - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, JetBlue Airways Corporation reported an operating income of -100.00M and revenue of 2.24B, resulting in an operating margin of -4.5%.

ULCC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Frontier Group Holdings, Inc. reported an operating income of 49.00M and revenue of 997.00M, resulting in an operating margin of 4.9%.

JBLU - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, JetBlue Airways Corporation reported a net income of -177.00M and revenue of 2.24B, resulting in a net margin of -7.9%.

ULCC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Frontier Group Holdings, Inc. reported a net income of 53.00M and revenue of 997.00M, resulting in a net margin of 5.3%.