JETD vs. MCDS

Last updated Jun 5, 2026

JETD (MAX Airlines -3X Inverse Leveraged ETN) and MCDS (JPMorgan Fundamental Data Science Mid Core ETF) are both exchange-traded funds - JETD is a Inverse Equities fund tracking the Prime Airlines Index - Benchmark TR Net (--300%), while MCDS is a Mid Cap Blend Equities fund actively managed by JPMorgan. JETD is passively managed, while MCDS is actively managed. Over the past year, JETD returned -64.62% vs 22.27% for MCDS. At a correlation of -0.76, they often move in opposite directions. JETD charges 0.95%/yr vs 0.35%/yr for MCDS.

Performance

JETD vs. MCDS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MAX Airlines -3X Inverse Leveraged ETN (JETD) and JPMorgan Fundamental Data Science Mid Core ETF (MCDS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JETD achieves a -30.85% return, which is significantly lower than MCDS's 13.38% return.

JETD

• 1D: -3.47%
• 1M: -23.74%
• YTD: -30.85%
• 6M: -41.63%
• 1Y: -64.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MCDS

• 1D: 0.44%
• 1M: 3.13%
• YTD: 13.38%
• 6M: 13.62%
• 1Y: 22.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JETD vs. MCDS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JETD MAX Airlines -3X Inverse Leveraged ETN	-30.85%	-59.89%	-51.36%
MCDS JPMorgan Fundamental Data Science Mid Core ETF	13.38%	6.51%	9.83%

Correlation

The correlation between JETD and MCDS is -0.75, 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	-0.75
Correlation (All Time) Calculated using the full available price history since Aug 9, 2024	-0.76

The correlation between JETD and MCDS has been stable across timeframes, ranging from -0.76 to -0.75 - a consistent structural relationship.

Return for Risk

JETD vs. MCDS — Risk / Return Rank

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

JETD

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

MCDS

MCDS Risk / Return Rank: 55
MCDS Sharpe Ratio Rank: 50
MCDS Sortino Ratio Rank: 52
MCDS Omega Ratio Rank: 48
MCDS Calmar Ratio Rank: 61
MCDS Martin Ratio Rank: 62

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. MCDS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MAX Airlines -3X Inverse Leveraged ETN (JETD) and JPMorgan Fundamental Data Science Mid Core ETF (MCDS). 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.

	JETD	MCDS	Difference
Sharpe ratio: Return per unit of total volatility	-0.89	1.69	-2.59
Sortino ratio: Return per unit of downside risk	-1.37	2.48	-3.85
Omega ratio: Gain probability vs. loss probability	0.84	1.30	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.90	2.99	-3.89
Martin ratio: Return relative to average drawdown	-1.37	11.12	-12.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JETD vs. MCDS - Sharpe Ratio Comparison

The current JETD Sharpe Ratio is -0.89, which is lower than the MCDS Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of JETD and MCDS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JETD	MCDS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.89	1.69	-2.59
Sharpe Ratio (All Time) Calculated using the full available price history	-0.70	1.00	-1.70

Drawdowns

JETD vs. MCDS - Drawdown Comparison

The maximum JETD drawdown since its inception was -93.69%, which is greater than MCDS's maximum drawdown of -22.50%. Use the drawdown chart below to compare losses from any high point for JETD and MCDS.

Drawdown Indicators

	JETD	MCDS	Difference
Max Drawdown Largest peak-to-trough decline	-93.69%	-22.50%	-71.19%
Max Drawdown (1Y) Largest decline over 1 year	-71.95%	-7.47%	-64.48%
Current Drawdown Current decline from peak	-92.81%	0.00%	-92.81%
Average Drawdown Average peak-to-trough decline	-61.40%	-3.98%	-57.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.03%	2.01%	+45.02%

Volatility

JETD vs. MCDS - Volatility Comparison

MAX Airlines -3X Inverse Leveraged ETN (JETD) has a higher volatility of 28.26% compared to JPMorgan Fundamental Data Science Mid Core ETF (MCDS) at 3.25%. This indicates that JETD's price experiences larger fluctuations and is considered to be riskier than MCDS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JETD	MCDS	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.26%	3.25%	+25.01%
Volatility (6M) Calculated over the trailing 6-month period	58.72%	9.86%	+48.86%
Volatility (1Y) Calculated over the trailing 1-year period	72.43%	13.21%	+59.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.49%	16.94%	+53.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.49%	16.94%	+53.55%

JETD vs. MCDS - Expense Ratio Comparison

JETD has a 0.95% expense ratio, which is higher than MCDS's 0.35% expense ratio.

Dividends

JETD vs. MCDS - Dividend Comparison

JETD has not paid dividends to shareholders, while MCDS's dividend yield for the trailing twelve months is around 1.06%.

Position	TTM	2025	2024
JETD MAX Airlines -3X Inverse Leveraged ETN	0.00%	0.00%	0.00%
MCDS JPMorgan Fundamental Data Science Mid Core ETF	1.06%	1.23%	0.64%

Frequently Asked Questions

Can I hold both JETD and MCDS in my portfolio?

JETD and MCDS have a correlation of -0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JETD or MCDS?

JETD has higher volatility (28.26%) compared to MCDS (3.25%). In terms of maximum drawdown, JETD dropped -93.69% vs MCDS's -22.50%.

Which ETF is better, JETD or MCDS?

On 1-year performance, MCDS leads with 22.27% vs -64.62% for JETD. On fees, MCDS is cheaper at 0.35% per year. On volatility, MCDS has been the lower-risk option at 3.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JETD or MCDS?

Over the 1-year period, MCDS has performed better with a 22.27% return vs -64.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JETD or MCDS?

MCDS is cheaper with a 0.35% expense ratio, compared with 0.95% for JETD.

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

MCDS has the higher dividend yield at 1.06%, compared with 0.00% for JETD.

What is the main difference between JETD and MCDS?

JETD is categorized as Inverse Equities, while MCDS is Mid Cap Blend Equities. They also come from different issuers: Max and JPMorgan. Their fees differ too: 0.95% for JETD and 0.35% for MCDS.

Which has better risk-adjusted returns?

MCDS currently has the higher Sharpe Ratio (1.69 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.