JETD vs. FTXR
JETD (MAX Airlines -3X Inverse Leveraged ETN) and FTXR (First Trust Nasdaq Transportation ETF) are both exchange-traded funds - JETD is a Inverse Equities fund tracking the Prime Airlines Index - Benchmark TR Net (--300%), while FTXR is a Industrials Equities fund tracking the Nasdaq U.S. Smart Transportation Index. Both are passively managed. Over the past 3 years, JETD returned -55.29%/yr vs 15.72%/yr for FTXR. Their -0.81 correlation means they have often moved in opposite directions in the past. JETD charges 0.95%/yr vs 0.60%/yr for FTXR.
Performance
JETD vs. FTXR - Performance Comparison
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Returns By Period
In the year-to-date period, JETD achieves a -55.07% return, which is significantly lower than FTXR's 16.17% return.
JETD
- 1D
- -9.96%
- 1M
- 0.93%
- 6M
- -45.68%
- YTD
- -55.07%
- 1Y
- -74.99%
- 3Y*
- -55.29%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -54.52%
FTXR
- 1D
- 1.39%
- 1M
- -0.55%
- 6M
- 10.51%
- YTD
- 16.17%
- 1Y
- 43.28%
- 3Y*
- 15.72%
- 5Y*
- 8.98%
- 10Y*
- —
- ALL TIME*
- 9.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $21.32M | $11.27M | $8.97M | |
| $203.79K | $315.96K | $386.43K |
JETD vs. FTXR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JETD MAX Airlines -3X Inverse Leveraged ETN | -55.07% | -59.89% | -51.72% | -1.53% |
FTXR First Trust Nasdaq Transportation ETF | 16.17% | 14.70% | 17.09% | 5.39% |
Correlation
The correlation between JETD and FTXR is -0.81, 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. | -0.81 |
Correlation (3Y) Balances recent behavior with more history. | -0.82 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2023 | -0.81 |
The correlation between JETD and FTXR has been stable across timeframes, ranging from -0.82 to -0.81 - a consistent structural relationship.
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Return for Risk
JETD vs. FTXR — Risk / Return Rank
JETD
FTXR
JETD vs. FTXR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MAX Airlines -3X Inverse Leveraged ETN (JETD) and First Trust Nasdaq Transportation ETF (FTXR). 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 | FTXR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.02 | ||
| Sortino ratioReturn per unit of downside risk | -4.67 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 1.34 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -1.01 | 3.00 | -4.01 |
| Martin ratioReturn relative to average drawdown | -1.63 | 10.28 | -11.90 |
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Drawdowns
JETD vs. FTXR - Drawdown Comparison
The maximum JETD drawdown since its inception was -95.39%, which is greater than FTXR's maximum drawdown of -52.06%. Use the drawdown chart below to compare losses from any high point for JETD and FTXR.
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Drawdown Indicators
| JETD | FTXR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.39% | -52.06% | -43.33% |
Max Drawdown (1Y)Largest decline over 1 year | -74.49% | -14.49% | -60.00% |
Max Drawdown (3Y)Largest decline over 3 years | -95.39% | -29.71% | -65.68% |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.96% | — |
Current DrawdownCurrent decline from peak | -95.33% | -1.77% | -93.56% |
Average DrawdownAverage peak-to-trough decline | -63.02% | -10.89% | -52.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.56% | 4.22% | +43.34% |
Volatility
JETD vs. FTXR - Volatility Comparison
MAX Airlines -3X Inverse Leveraged ETN (JETD) has a higher volatility of 22.02% compared to First Trust Nasdaq Transportation ETF (FTXR) at 4.93%. This indicates that JETD's price experiences larger fluctuations and is considered to be riskier than FTXR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JETD | FTXR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.02% | 4.93% | +17.09% |
Volatility (6M)Calculated over the trailing 6-month period | 66.00% | 16.94% | +49.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.75% | 21.47% | +54.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.50% | 23.94% | +47.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.50% | 24.68% | +46.82% |
JETD vs. FTXR - Expense Ratio Comparison
JETD has a 0.95% expense ratio, which is higher than FTXR's 0.60% expense ratio.
Dividends
JETD vs. FTXR - Dividend Comparison
JETD has not paid dividends to shareholders, while FTXR's dividend yield for the trailing twelve months is around 0.97%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FTXR First Trust Nasdaq Transportation ETF | 0.97% | 1.52% | 2.13% | 1.50% | 2.38% | 0.67% | 0.33% | 1.34% | 1.74% | 1.18% | 0.24% |
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% | 0.00% |
Frequently Asked Questions
JETD and FTXR have a correlation of -0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JETD has higher volatility (22.02%) compared to FTXR (4.93%). In terms of maximum drawdown, JETD dropped -95.39% vs FTXR's -52.06%.
On 3-year performance, FTXR leads with 15.72% vs -55.29% for JETD. On fees, FTXR is cheaper at 0.60% per year. On volatility, FTXR has been the lower-risk option at 4.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FTXR has performed better with a 15.72% return vs -55.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTXR is cheaper with a 0.60% expense ratio, compared with 0.95% for JETD.
FTXR has the higher dividend yield at 0.97%, compared with 0.00% for JETD.
JETD is categorized as Inverse Equities, while FTXR is Industrials Equities. JETD tracks Prime Airlines Index - Benchmark TR Net (--300%), while FTXR tracks Nasdaq U.S. Smart Transportation Index. They also come from different issuers: Max and First Trust. Their fees differ too: 0.95% for JETD and 0.60% for FTXR.
FTXR currently has the higher Sharpe Ratio (2.03 vs -0.99), 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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