JETD vs. IYT
JETD (MAX Airlines -3X Inverse Leveraged ETN) and IYT (iShares Transportation Average ETF) are both exchange-traded funds - JETD is a Inverse Equities fund tracking the Prime Airlines Index - Benchmark TR Net (--300%), while IYT is a Transportation Equities fund tracking the Dow Jones Transportation Average Index. Both are passively managed. Over the past 3 years, JETD returned -51.54%/yr vs 12.71%/yr for IYT. At a correlation of -0.78, they often move in opposite directions. JETD charges 0.95%/yr vs 0.42%/yr for IYT.
Performance
JETD vs. IYT - 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 IYT's 18.80% return.
JETD
- 1D
- 5.74%
- 1M
- -9.70%
- 6M
- -38.94%
- YTD
- -48.55%
- 1Y
- -66.95%
- 3Y*
- -51.54%
- 5Y*
- —
- 10Y*
- —
IYT
- 1D
- -0.09%
- 1M
- 1.95%
- 6M
- 13.80%
- YTD
- 18.80%
- 1Y
- 24.07%
- 3Y*
- 12.71%
- 5Y*
- 7.80%
- 10Y*
- 10.67%
JETD vs. IYT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JETD MAX Airlines -3X Inverse Leveraged ETN | -48.55% | -59.89% | -51.72% | -1.53% |
IYT iShares Transportation Average ETF | 18.80% | 11.48% | 4.10% | 10.44% |
Correlation
The correlation between JETD and IYT is -0.76, 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 | -0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.78 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2023 | -0.78 |
The correlation between JETD and IYT has been stable across timeframes, ranging from -0.78 to -0.76 - a consistent structural relationship.
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Return for Risk
JETD vs. IYT — Risk / Return Rank
JETD
IYT
JETD vs. IYT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MAX Airlines -3X Inverse Leveraged ETN (JETD) and iShares Transportation Average ETF (IYT). 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 | IYT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.08 | ||
| Sortino ratioReturn per unit of downside risk | -3.13 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.21 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 2.00 | -2.89 |
| Martin ratioReturn relative to average drawdown | -1.51 | 6.74 | -8.26 |
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Drawdowns
JETD vs. IYT - Drawdown Comparison
The maximum JETD drawdown since its inception was -95.39%, which is greater than IYT's maximum drawdown of -60.39%. Use the drawdown chart below to compare losses from any high point for JETD and IYT.
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Drawdown Indicators
| JETD | IYT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.39% | -60.39% | -35.00% |
Max Drawdown (1Y)Largest decline over 1 year | -75.34% | -12.09% | -63.25% |
Max Drawdown (3Y)Largest decline over 3 years | -95.39% | -26.35% | -69.04% |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.15% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.28% | — |
Current DrawdownCurrent decline from peak | -94.65% | -0.16% | -94.49% |
Average DrawdownAverage peak-to-trough decline | -62.40% | -9.28% | -53.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.25% | 3.61% | +40.64% |
Volatility
JETD vs. IYT - Volatility Comparison
MAX Airlines -3X Inverse Leveraged ETN (JETD) has a higher volatility of 27.04% compared to iShares Transportation Average ETF (IYT) at 6.07%. This indicates that JETD's price experiences larger fluctuations and is considered to be riskier than IYT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JETD | IYT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.04% | 6.07% | +20.97% |
Volatility (6M)Calculated over the trailing 6-month period | 65.09% | 16.24% | +48.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.17% | 20.41% | +54.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.45% | 22.35% | +49.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.45% | 23.11% | +48.34% |
JETD vs. IYT - Expense Ratio Comparison
JETD has a 0.95% expense ratio, which is higher than IYT's 0.42% expense ratio.
Dividends
JETD vs. IYT - Dividend Comparison
JETD has not paid dividends to shareholders, while IYT's dividend yield for the trailing twelve months is around 0.89%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYT iShares Transportation Average ETF | 0.89% | 1.00% | 1.08% | 1.26% | 1.40% | 0.77% | 0.93% | 1.29% | 1.35% | 0.92% | 0.96% | 1.28% |
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% | 0.00% |
Frequently Asked Questions
JETD and IYT have a correlation of -0.76, 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 IYT (6.07%). In terms of maximum drawdown, JETD dropped -95.39% vs IYT's -60.39%.
On 3-year performance, IYT leads with 12.71% vs -51.54% for JETD. On fees, IYT is cheaper at 0.42% per year. On volatility, IYT has been the lower-risk option at 6.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IYT has performed better with a 12.71% return vs -51.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYT is cheaper with a 0.42% expense ratio, compared with 0.95% for JETD.
IYT has the higher dividend yield at 0.89%, compared with 0.00% for JETD.
JETD is categorized as Inverse Equities, while IYT is Transportation Equities. JETD tracks Prime Airlines Index - Benchmark TR Net (--300%), while IYT tracks Dow Jones Transportation Average Index. They also come from different issuers: Max and iShares. Their fees differ too: 0.95% for JETD and 0.42% for IYT.
IYT currently has the higher Sharpe Ratio (1.19 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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