JETD vs. DUSL
JETD (MAX Airlines -3X Inverse Leveraged ETN) and DUSL (Direxion Daily Industrials Bull 3X Shares) are both exchange-traded funds - JETD is a Inverse Equities fund tracking the Prime Airlines Index - Benchmark TR Net (--300%), while DUSL is a Leveraged Equities fund tracking the Industrials Select Sector Index (300%). Both are passively managed. Over the past 3 years, JETD returned -52.61%/yr vs 39.27%/yr for DUSL. Their -0.75 correlation means they have often moved in opposite directions in the past. JETD charges 0.95%/yr vs 1.01%/yr for DUSL.
Performance
JETD vs. DUSL - Performance Comparison
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Returns By Period
In the year-to-date period, JETD achieves a -50.10% return, which is significantly lower than DUSL's 39.99% 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%
DUSL
- 1D
- 2.43%
- 1M
- -7.89%
- 6M
- 17.29%
- YTD
- 39.99%
- 1Y
- 50.01%
- 3Y*
- 39.27%
- 5Y*
- 20.90%
- 10Y*
- —
- ALL TIME*
- 18.43%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $913.54K | $1.33M | $1.65M | |
| $218.49K | $331.18K | $402.63K |
JETD vs. DUSL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JETD MAX Airlines -3X Inverse Leveraged ETN | -50.10% | -59.89% | -51.72% | -1.53% |
DUSL Direxion Daily Industrials Bull 3X Shares | 39.99% | 37.50% | 34.75% | 22.92% |
Correlation
The correlation between JETD and DUSL 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 (3Y) Balances recent behavior with more history. | -0.75 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2023 | -0.75 |
The correlation between JETD and DUSL has been stable across timeframes, ranging from -0.75 to -0.73 - a consistent structural relationship.
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Return for Risk
JETD vs. DUSL — Risk / Return Rank
JETD
DUSL
JETD vs. DUSL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MAX Airlines -3X Inverse Leveraged ETN (JETD) and Direxion Daily Industrials Bull 3X Shares (DUSL). 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 | DUSL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.79 | ||
| Sortino ratioReturn per unit of downside risk | -2.98 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.17 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | 1.30 | -2.23 |
| Martin ratioReturn relative to average drawdown | -1.49 | 4.31 | -5.80 |
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Drawdowns
JETD vs. DUSL - Drawdown Comparison
The maximum JETD drawdown since its inception was -95.39%, which is greater than DUSL's maximum drawdown of -85.74%. Use the drawdown chart below to compare losses from any high point for JETD and DUSL.
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Drawdown Indicators
| JETD | DUSL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.39% | -85.74% | -9.65% |
Max Drawdown (1Y)Largest decline over 1 year | -75.34% | -33.68% | -41.66% |
Max Drawdown (3Y)Largest decline over 3 years | -95.39% | -50.86% | -44.53% |
Max Drawdown (5Y)Largest decline over 5 years | — | -58.43% | — |
Current DrawdownCurrent decline from peak | -94.81% | -10.22% | -84.59% |
Average DrawdownAverage peak-to-trough decline | -62.98% | -21.74% | -41.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.33% | 10.13% | +37.20% |
Volatility
JETD vs. DUSL - Volatility Comparison
MAX Airlines -3X Inverse Leveraged ETN (JETD) has a higher volatility of 19.60% compared to Direxion Daily Industrials Bull 3X Shares (DUSL) at 14.35%. This indicates that JETD's price experiences larger fluctuations and is considered to be riskier than DUSL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JETD | DUSL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.60% | 14.35% | +5.25% |
Volatility (6M)Calculated over the trailing 6-month period | 65.26% | 42.40% | +22.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.40% | 51.40% | +24.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.33% | 53.05% | +18.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.33% | 61.54% | +9.79% |
JETD vs. DUSL - Expense Ratio Comparison
JETD has a 0.95% expense ratio, which is lower than DUSL's 1.01% expense ratio.
Dividends
JETD vs. DUSL - Dividend Comparison
JETD has not paid dividends to shareholders, while DUSL's dividend yield for the trailing twelve months is around 8.07%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DUSL Direxion Daily Industrials Bull 3X Shares | 8.07% | 11.39% | 6.61% | 1.28% | 0.66% | 0.07% | 0.48% | 1.01% | 1.46% | 0.57% |
JETD MAX Airlines -3X Inverse Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JETD and DUSL 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.
JETD has higher volatility (19.60%) compared to DUSL (14.35%). In terms of maximum drawdown, JETD dropped -95.39% vs DUSL's -85.74%.
On 3-year performance, DUSL leads with 39.27% vs -52.61% for JETD. On fees, JETD is cheaper at 0.95% per year. On volatility, DUSL has been the lower-risk option at 14.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DUSL has performed better with a 39.27% return vs -52.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JETD is cheaper with a 0.95% expense ratio, compared with 1.01% for DUSL.
DUSL has the higher dividend yield at 8.07%, compared with 0.00% for JETD.
JETD is categorized as Inverse Equities, while DUSL is Leveraged Equities. JETD tracks Prime Airlines Index - Benchmark TR Net (--300%), while DUSL tracks Industrials Select Sector Index (300%). They also come from different issuers: Max and Direxion. Their fees differ too: 0.95% for JETD and 1.01% for DUSL.
DUSL currently has the higher Sharpe Ratio (0.85 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.
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