JETD vs. AVMV

Last updated Aug 1, 2026

JETD (MAX Airlines -3X Inverse Leveraged ETN) and AVMV (Avantis U.S. Mid Cap Value ETF) are both exchange-traded funds - JETD is a Inverse Equities fund tracking the Prime Airlines Index - Benchmark TR Net (--300%), while AVMV is a Mid Cap Value Equities fund actively managed by Avantis. JETD is passively managed, while AVMV is actively managed. Over the past year, JETD returned -72.22% vs 25.60% for AVMV. Their -0.73 correlation means they have often moved in opposite directions in the past. JETD charges 0.95%/yr vs 0.20%/yr for AVMV.

Performance

JETD vs. AVMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MAX Airlines -3X Inverse Leveraged ETN (JETD) and Avantis U.S. Mid Cap Value ETF (AVMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JETD achieves a -50.10% return, which is significantly lower than AVMV's 14.92% return.

JETD

• 1D: 1.69%
• 1M: 12.09%
• 6M: -43.88%
• YTD: -50.10%
• 1Y: -72.22%
• 3Y*: -52.61%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -53.06%

AVMV

• 1D: -0.16%
• 1M: 1.18%
• 6M: 10.03%
• YTD: 14.92%
• 1Y: 25.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.92%

*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)
AVMV Avantis U.S. Mid Cap Value ETF	$4.17M	$4.09M	$3.51M
JETD MAX Airlines -3X Inverse Leveraged ETN	$218.49K	$331.18K	$402.63K

JETD vs. AVMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JETD MAX Airlines -3X Inverse Leveraged ETN	-50.10%	-59.89%	-51.72%	-33.95%
AVMV Avantis U.S. Mid Cap Value ETF	14.92%	10.46%	18.43%	14.13%

Correlation

The correlation between JETD and AVMV is -0.73, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.73
Correlation (All Time) Calculated using the full available price history since Nov 9, 2023	-0.73

The correlation between JETD and AVMV has been stable across timeframes, ranging from -0.73 to -0.73 - a consistent structural relationship.

Return for Risk

JETD vs. AVMV — Risk / Return Rank

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

JETD

JETD Risk / Return Rank: 1
JETD Sharpe Ratio Rank: 2
JETD Sortino Ratio Rank: 2
JETD Omega Ratio Rank: 1
JETD Calmar Ratio Rank: 1
JETD Martin Ratio Rank: 0

AVMV

AVMV Risk / Return Rank: 80
AVMV Sharpe Ratio Rank: 78
AVMV Sortino Ratio Rank: 81
AVMV Omega Ratio Rank: 76
AVMV Calmar Ratio Rank: 84
AVMV Martin Ratio Rank: 81

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.

JETD vs. AVMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MAX Airlines -3X Inverse Leveraged ETN (JETD) and Avantis U.S. Mid Cap Value ETF (AVMV). 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.

	JETD	AVMV	Difference
Sharpe ratio: Return per unit of total volatility	-0.94	1.77	-2.71
Sortino ratio: Return per unit of downside risk	-1.57	2.62	-4.19
Omega ratio: Gain probability vs. loss probability	0.81	1.32	-0.50
Calmar ratio: Return relative to maximum drawdown	-0.94	3.15	-4.08
Martin ratio: Return relative to average drawdown	-1.49	10.59	-12.08

JETD vs. AVMV - Sharpe Ratio Comparison

The current JETD Sharpe Ratio is -0.94, which is lower than the AVMV Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of JETD and AVMV, 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

JETD vs. AVMV - Drawdown Comparison

The maximum JETD drawdown since its inception was -95.39%, which is greater than AVMV's maximum drawdown of -24.24%. Use the drawdown chart below to compare losses from any high point for JETD and AVMV.

Drawdown Indicators

	JETD	AVMV	Difference
Max Drawdown Largest peak-to-trough decline	-95.39%	-24.24%	-71.15%
Max Drawdown (1Y) Largest decline over 1 year	-75.34%	-7.63%	-67.71%
Max Drawdown (3Y) Largest decline over 3 years	-95.39%	—	—
Current Drawdown Current decline from peak	-94.81%	-0.68%	-94.13%
Average Drawdown Average peak-to-trough decline	-62.98%	-3.70%	-59.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.33%	2.26%	+45.07%

Volatility

JETD vs. AVMV - Volatility Comparison

MAX Airlines -3X Inverse Leveraged ETN (JETD) has a higher volatility of 19.60% compared to Avantis U.S. Mid Cap Value ETF (AVMV) at 2.38%. This indicates that JETD's price experiences larger fluctuations and is considered to be riskier than AVMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JETD	AVMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.60%	2.38%	+17.22%
Volatility (6M) Calculated over the trailing 6-month period	65.26%	9.14%	+56.12%
Volatility (1Y) Calculated over the trailing 1-year period	75.40%	13.57%	+61.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.33%	17.64%	+53.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.33%	17.64%	+53.69%

JETD vs. AVMV - Expense Ratio Comparison

JETD has a 0.95% expense ratio, which is higher than AVMV's 0.20% expense ratio.

Dividends

JETD vs. AVMV - Dividend Comparison

JETD has not paid dividends to shareholders, while AVMV's dividend yield for the trailing twelve months is around 1.04%.

Position	TTM	2025	2024	2023
AVMV Avantis U.S. Mid Cap Value ETF	1.04%	1.20%	1.30%	0.25%
JETD MAX Airlines -3X Inverse Leveraged ETN	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JETD and AVMV in my portfolio?

JETD and AVMV have a correlation of -0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JETD or AVMV?

JETD has higher volatility (19.60%) compared to AVMV (2.38%). In terms of maximum drawdown, JETD dropped -95.39% vs AVMV's -24.24%.

Which ETF is better, JETD or AVMV?

On 1-year performance, AVMV leads with 25.60% vs -72.22% for JETD. On fees, AVMV is cheaper at 0.20% per year. On volatility, AVMV has been the lower-risk option at 2.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JETD or AVMV?

Over the 1-year period, AVMV has performed better with a 25.60% return vs -72.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JETD or AVMV?

AVMV is cheaper with a 0.20% expense ratio, compared with 0.95% for JETD.

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

AVMV has the higher dividend yield at 1.04%, compared with 0.00% for JETD.

What is the main difference between JETD and AVMV?

JETD is categorized as Inverse Equities, while AVMV is Mid Cap Value Equities. They also come from different issuers: Max and Avantis. Their fees differ too: 0.95% for JETD and 0.20% for AVMV.

Which has better risk-adjusted returns?

AVMV currently has the higher Sharpe Ratio (1.77 vs -0.94), 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.