JETD vs. BMNZ

Last updated Jun 26, 2026

JETD (MAX Airlines -3X Inverse Leveraged ETN) and BMNZ (Defiance Daily Target 2X Short BMNR ETF) are both Inverse Equities funds - JETD tracks the Prime Airlines Index - Benchmark TR Net (--300%) while BMNZ tracks the BitMine Immersion Technologies, Inc.. Both are passively managed. At a 0.30 correlation, their price movements are largely independent. JETD charges 0.95%/yr vs 1.31%/yr for BMNZ.

Performance

JETD vs. BMNZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MAX Airlines -3X Inverse Leveraged ETN (JETD) and Defiance Daily Target 2X Short BMNR ETF (BMNZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JETD achieves a -54.04% return, which is significantly lower than BMNZ's 29.97% return.

JETD

• 1D: -4.72%
• 1M: -31.48%
• YTD: -54.04%
• 6M: -51.71%
• 1Y: -77.54%
• 3Y*: -55.58%
• 5Y*: —
• 10Y*: —

BMNZ

• 1D: 9.79%
• 1M: 76.32%
• YTD: 29.97%
• 6M: 50.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JETD vs. BMNZ - Yearly Performance Comparison

	2026 (YTD)	2025
JETD MAX Airlines -3X Inverse Leveraged ETN	-54.04%	-22.05%
BMNZ Defiance Daily Target 2X Short BMNR ETF	29.97%	15.30%

Correlation

The correlation between JETD and BMNZ is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 13, 2025	0.30

Return for Risk

JETD vs. BMNZ — Risk / Return Rank

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

JETD

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

BMNZ

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

JETD vs. BMNZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MAX Airlines -3X Inverse Leveraged ETN (JETD) and Defiance Daily Target 2X Short BMNR ETF (BMNZ). 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	BMNZ	Difference
Sharpe ratio: Return per unit of total volatility	-1.03	—	—
Sortino ratio: Return per unit of downside risk	-1.99	—	—
Omega ratio: Gain probability vs. loss probability	0.77	—	—
Calmar ratio: Return relative to maximum drawdown	-1.01	—	—
Martin ratio: Return relative to average drawdown	-1.68	—	—

Drawdowns

JETD vs. BMNZ - Drawdown Comparison

The maximum JETD drawdown since its inception was -95.22%, which is greater than BMNZ's maximum drawdown of -70.80%. Use the drawdown chart below to compare losses from any high point for JETD and BMNZ.

Drawdown Indicators

	JETD	BMNZ	Difference
Max Drawdown Largest peak-to-trough decline	-95.22%	-70.80%	-24.42%
Max Drawdown (1Y) Largest decline over 1 year	-76.78%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-95.22%	—	—
Current Drawdown Current decline from peak	-95.22%	-27.23%	-67.99%
Average Drawdown Average peak-to-trough decline	-61.93%	-50.65%	-11.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.65%	—	—

Volatility

Volatility by Period

	JETD	BMNZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.75%	—	—
Volatility (6M) Calculated over the trailing 6-month period	64.66%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	75.92%	187.04%	-111.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.61%	187.04%	-115.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.61%	187.04%	-115.43%

JETD vs. BMNZ - Expense Ratio Comparison

JETD has a 0.95% expense ratio, which is lower than BMNZ's 1.31% expense ratio.

Dividends

JETD vs. BMNZ - Dividend Comparison

Neither JETD nor BMNZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JETD and BMNZ in my portfolio?

JETD and BMNZ have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JETD or BMNZ?

On fees, JETD is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JETD or BMNZ?

JETD is cheaper with a 0.95% expense ratio, compared with 1.31% for BMNZ.

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

JETD and BMNZ have nearly identical dividend yields, around 0.00%.

What is the main difference between JETD and BMNZ?

JETD tracks Prime Airlines Index - Benchmark TR Net (--300%), while BMNZ tracks BitMine Immersion Technologies, Inc.. They also come from different issuers: Max and Defiance. Their fees differ too: 0.95% for JETD and 1.31% for BMNZ.