JEDI vs. AIRR
JEDI (Defiance Drone & Modern Warfare ETF) and AIRR (First Trust RBA American Industrial Renaissance ETF) are both exchange-traded funds - JEDI is a Aerospace & Defense fund tracking the BITA Drone & Modern Warfare Select Index, while AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index. Both are passively managed. A 0.57 correlation means they provide meaningful diversification when combined. Both charge a 0.69% expense ratio.
Performance
JEDI vs. AIRR - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with JEDI having a 30.94% return and AIRR slightly higher at 31.74%.
JEDI
- 1D
- -6.91%
- 1M
- 2.81%
- YTD
- 30.94%
- 6M
- 32.92%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AIRR
- 1D
- 0.83%
- 1M
- 1.32%
- YTD
- 31.74%
- 6M
- 28.77%
- 1Y
- 67.12%
- 3Y*
- 35.29%
- 5Y*
- 25.46%
- 10Y*
- 22.05%
JEDI vs. AIRR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
JEDI Defiance Drone & Modern Warfare ETF | 30.94% | -3.42% |
AIRR First Trust RBA American Industrial Renaissance ETF | 31.74% | 4.65% |
Correlation
The correlation between JEDI and AIRR is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 26, 2025 | 0.57 |
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Return for Risk
JEDI vs. AIRR — Risk / Return Rank
JEDI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
AIRR
JEDI vs. AIRR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Drone & Modern Warfare ETF (JEDI) and First Trust RBA American Industrial Renaissance ETF (AIRR). 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.
| JEDI | AIRR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.40 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 5.01 | — |
| Martin ratioReturn relative to average drawdown | — | 18.33 | — |
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Drawdowns
JEDI vs. AIRR - Drawdown Comparison
The maximum JEDI drawdown since its inception was -26.33%, smaller than the maximum AIRR drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for JEDI and AIRR.
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Drawdown Indicators
| JEDI | AIRR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.33% | -42.37% | +16.04% |
Max Drawdown (1Y)Largest decline over 1 year | — | -13.09% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -27.95% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.95% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.37% | — |
Current DrawdownCurrent decline from peak | -25.08% | -1.89% | -23.19% |
Average DrawdownAverage peak-to-trough decline | -9.54% | -7.48% | -2.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.57% | — |
Volatility
JEDI vs. AIRR - Volatility Comparison
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Volatility by Period
| JEDI | AIRR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.32% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 20.81% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 51.56% | 26.19% | +25.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.56% | 25.45% | +26.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.56% | 26.36% | +25.20% |
JEDI vs. AIRR - Expense Ratio Comparison
Both JEDI and AIRR have an expense ratio of 0.69%.
Dividends
JEDI vs. AIRR - Dividend Comparison
JEDI has not paid dividends to shareholders, while AIRR's dividend yield for the trailing twelve months is around 0.13%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIRR First Trust RBA American Industrial Renaissance ETF | 0.13% | 0.19% | 0.18% | 0.23% | 0.12% | 0.05% | 0.10% | 0.20% | 0.43% | 0.30% | 0.08% | 0.47% |
JEDI Defiance Drone & Modern Warfare ETF | 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
JEDI and AIRR have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.69% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
JEDI and AIRR have the same expense ratio: 0.69% per year.
AIRR has the higher dividend yield at 0.13%, compared with 0.00% for JEDI.
JEDI is categorized as Aerospace & Defense, while AIRR is Building & Construction. JEDI tracks BITA Drone & Modern Warfare Select Index, while AIRR tracks Richard Bernstein Advisors American Industrial Renaissance Index.
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