JETD vs. TPOR
JETD (MAX Airlines -3X Inverse Leveraged ETN) and TPOR (Direxion Daily Transportation Bull 3X Shares) are both exchange-traded funds - JETD is a Inverse Equities fund tracking the Prime Airlines Index - Benchmark TR Net (--300%), while TPOR is a Leveraged Equities fund tracking the Dow Jones Transportation Average Index (300%). Both are passively managed. Over the past 3 years, JETD returned -55.29%/yr vs 7.68%/yr for TPOR. Their -0.77 correlation means they have often moved in opposite directions in the past. JETD charges 0.95%/yr vs 1.01%/yr for TPOR.
Performance
JETD vs. TPOR - 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 TPOR's 35.17% 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%
TPOR
- 1D
- 3.30%
- 1M
- -8.18%
- 6M
- 16.54%
- YTD
- 35.17%
- 1Y
- 77.37%
- 3Y*
- 7.68%
- 5Y*
- 3.61%
- 10Y*
- —
- ALL TIME*
- 7.20%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $203.79K | $315.96K | $386.43K | |
| $1.02M | $1.00M | $929.72K |
JETD vs. TPOR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JETD MAX Airlines -3X Inverse Leveraged ETN | -55.07% | -59.89% | -51.72% | -1.53% |
TPOR Direxion Daily Transportation Bull 3X Shares | 35.17% | 3.26% | -9.12% | 19.78% |
Correlation
The correlation between JETD and TPOR 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. | -0.76 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2023 | -0.77 |
The correlation between JETD and TPOR has been stable across timeframes, ranging from -0.77 to -0.73 - a consistent structural relationship.
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Return for Risk
JETD vs. TPOR — Risk / Return Rank
JETD
TPOR
JETD vs. TPOR - 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 Transportation Bull 3X Shares (TPOR). 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 | TPOR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.31 | ||
| Sortino ratioReturn per unit of downside risk | -3.73 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 1.24 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -1.01 | 2.29 | -3.30 |
| Martin ratioReturn relative to average drawdown | -1.63 | 7.01 | -8.64 |
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Drawdowns
JETD vs. TPOR - Drawdown Comparison
The maximum JETD drawdown since its inception was -95.39%, which is greater than TPOR's maximum drawdown of -87.59%. Use the drawdown chart below to compare losses from any high point for JETD and TPOR.
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Drawdown Indicators
| JETD | TPOR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.39% | -87.59% | -7.80% |
Max Drawdown (1Y)Largest decline over 1 year | -74.49% | -34.00% | -40.49% |
Max Drawdown (3Y)Largest decline over 3 years | -95.39% | -64.11% | -31.28% |
Max Drawdown (5Y)Largest decline over 5 years | — | -74.08% | — |
Current DrawdownCurrent decline from peak | -95.33% | -27.95% | -67.38% |
Average DrawdownAverage peak-to-trough decline | -63.02% | -38.45% | -24.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.56% | 11.07% | +36.49% |
Volatility
JETD vs. TPOR - Volatility Comparison
MAX Airlines -3X Inverse Leveraged ETN (JETD) has a higher volatility of 22.02% compared to Direxion Daily Transportation Bull 3X Shares (TPOR) at 13.66%. This indicates that JETD's price experiences larger fluctuations and is considered to be riskier than TPOR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JETD | TPOR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.02% | 13.66% | +8.36% |
Volatility (6M)Calculated over the trailing 6-month period | 66.00% | 46.92% | +19.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.75% | 59.22% | +16.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.50% | 67.87% | +3.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.50% | 70.73% | +0.77% |
JETD vs. TPOR - Expense Ratio Comparison
JETD has a 0.95% expense ratio, which is lower than TPOR's 1.01% expense ratio.
Dividends
JETD vs. TPOR - Dividend Comparison
JETD has not paid dividends to shareholders, while TPOR's dividend yield for the trailing twelve months is around 0.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
TPOR Direxion Daily Transportation Bull 3X Shares | 0.55% | 0.91% | 1.43% | 1.51% | 0.00% | 0.00% | 0.10% | 0.96% | 1.22% | 8.70% |
Frequently Asked Questions
JETD and TPOR 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 (22.02%) compared to TPOR (13.66%). In terms of maximum drawdown, JETD dropped -95.39% vs TPOR's -87.59%.
On 3-year performance, TPOR leads with 7.68% vs -55.29% for JETD. On fees, JETD is cheaper at 0.95% per year. On volatility, TPOR has been the lower-risk option at 13.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TPOR has performed better with a 7.68% return vs -55.29%. 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 TPOR.
TPOR has the higher dividend yield at 0.55%, compared with 0.00% for JETD.
JETD is categorized as Inverse Equities, while TPOR is Leveraged Equities. JETD tracks Prime Airlines Index - Benchmark TR Net (--300%), while TPOR tracks Dow Jones Transportation Average Index (300%). They also come from different issuers: Max and Direxion. Their fees differ too: 0.95% for JETD and 1.01% for TPOR.
TPOR currently has the higher Sharpe Ratio (1.32 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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