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 -51.54%/yr vs 15.69%/yr for FTXR. At a correlation of -0.82, they often move in opposite directions. 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 -48.55% return, which is significantly lower than FTXR's 16.44% return.
JETD
- 1D
- 5.74%
- 1M
- -9.70%
- 6M
- -38.94%
- YTD
- -48.55%
- 1Y
- -66.95%
- 3Y*
- -51.54%
- 5Y*
- —
- 10Y*
- —
FTXR
- 1D
- -0.97%
- 1M
- -0.47%
- 6M
- 11.25%
- YTD
- 16.44%
- 1Y
- 36.97%
- 3Y*
- 15.69%
- 5Y*
- 8.63%
- 10Y*
- —
JETD vs. FTXR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JETD MAX Airlines -3X Inverse Leveraged ETN | -48.55% | -59.89% | -51.72% | -1.53% |
FTXR First Trust Nasdaq Transportation ETF | 16.44% | 14.70% | 17.09% | 5.39% |
Correlation
The correlation between JETD and FTXR is -0.83, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.82 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2023 | -0.82 |
The correlation between JETD and FTXR has been stable across timeframes, ranging from -0.83 to -0.82 - 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 | -2.61 | ||
| Sortino ratioReturn per unit of downside risk | -3.85 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.29 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 2.56 | -3.45 |
| Martin ratioReturn relative to average drawdown | -1.51 | 8.69 | -10.21 |
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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 | -75.34% | -14.49% | -60.85% |
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 | -94.65% | -1.34% | -93.31% |
Average DrawdownAverage peak-to-trough decline | -62.40% | -10.95% | -51.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.25% | 4.26% | +39.99% |
Volatility
JETD vs. FTXR - Volatility Comparison
MAX Airlines -3X Inverse Leveraged ETN (JETD) has a higher volatility of 27.04% compared to First Trust Nasdaq Transportation ETF (FTXR) at 6.37%. 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 | 27.04% | 6.37% | +20.67% |
Volatility (6M)Calculated over the trailing 6-month period | 65.09% | 17.21% | +47.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.17% | 21.65% | +53.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.45% | 23.97% | +47.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.45% | 24.72% | +46.73% |
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 -0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JETD has higher volatility (27.04%) compared to FTXR (6.37%). In terms of maximum drawdown, JETD dropped -95.39% vs FTXR's -52.06%.
On 3-year performance, FTXR leads with 15.69% vs -51.54% for JETD. On fees, FTXR is cheaper at 0.60% per year. On volatility, FTXR has been the lower-risk option at 6.37%. 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 15.69% return vs -51.54%. 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 (1.72 vs -0.89), 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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