JETD vs. TSLQ

Last updated Jul 12, 2026

JETD (MAX Airlines -3X Inverse Leveraged ETN) and TSLQ (Tradr 2X Short TSLA Daily ETF) are both Inverse Equities funds. JETD is passively managed, while TSLQ is actively managed. Over the past 3 years, JETD returned -51.14%/yr vs -65.69%/yr for TSLQ. At a 0.38 correlation, their price movements are largely independent. JETD charges 0.95%/yr vs 1.17%/yr for TSLQ.

Performance

JETD vs. TSLQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MAX Airlines -3X Inverse Leveraged ETN (JETD) and Tradr 2X Short TSLA Daily ETF (TSLQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JETD achieves a -51.35% return, which is significantly lower than TSLQ's -6.50% return.

JETD

• 1D: 1.29%
• 1M: -14.61%
• 6M: -42.26%
• YTD: -51.35%
• 1Y: -68.75%
• 3Y*: -51.14%
• 5Y*: —
• 10Y*: —

TSLQ

• 1D: -0.59%
• 1M: -7.57%
• 6M: -7.57%
• YTD: -6.50%
• 1Y: -64.99%
• 3Y*: -65.69%
• 5Y*: —
• 10Y*: —

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

JETD vs. TSLQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JETD MAX Airlines -3X Inverse Leveraged ETN	-51.35%	-59.89%	-51.72%	-1.53%
TSLQ Tradr 2X Short TSLA Daily ETF	-6.50%	-74.67%	-83.21%	2.00%

Correlation

The correlation between JETD and TSLQ is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (All Time) Calculated using the full available price history since Jun 21, 2023	0.38

Return for Risk

JETD vs. TSLQ — 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: 1

TSLQ

TSLQ Risk / Return Rank: 3
TSLQ Sharpe Ratio Rank: 3
TSLQ Sortino Ratio Rank: 3
TSLQ Omega Ratio Rank: 4
TSLQ Calmar Ratio Rank: 1
TSLQ Martin Ratio Rank: 3

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. TSLQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MAX Airlines -3X Inverse Leveraged ETN (JETD) and Tradr 2X Short TSLA Daily ETF (TSLQ). 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	TSLQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.90	-0.74	-0.16
Sortino ratio: Return per unit of downside risk	-1.43	-1.03	-0.40
Omega ratio: Gain probability vs. loss probability	0.83	0.89	-0.06
Calmar ratio: Return relative to maximum drawdown	-0.90	-0.95	+0.05
Martin ratio: Return relative to average drawdown	-1.53	-1.21	-0.32

JETD vs. TSLQ - Sharpe Ratio Comparison

The current JETD Sharpe Ratio is -0.90, which is comparable to the TSLQ Sharpe Ratio of -0.74. The chart below compares the historical Sharpe Ratios of JETD and TSLQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JETD vs. TSLQ - Drawdown Comparison

The maximum JETD drawdown since its inception was -95.39%, roughly equal to the maximum TSLQ drawdown of -98.73%. Use the drawdown chart below to compare losses from any high point for JETD and TSLQ.

Drawdown Indicators

	JETD	TSLQ	Difference
Max Drawdown Largest peak-to-trough decline	-95.39%	-98.73%	+3.34%
Max Drawdown (1Y) Largest decline over 1 year	-75.34%	-69.32%	-6.02%
Max Drawdown (3Y) Largest decline over 3 years	-95.39%	-97.85%	+2.46%
Current Drawdown Current decline from peak	-94.94%	-98.61%	+3.67%
Average Drawdown Average peak-to-trough decline	-62.36%	-67.98%	+5.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.03%	54.24%	-10.21%

Volatility

JETD vs. TSLQ - Volatility Comparison

The current volatility for MAX Airlines -3X Inverse Leveraged ETN (JETD) is 29.97%, while Tradr 2X Short TSLA Daily ETF (TSLQ) has a volatility of 35.92%. This indicates that JETD experiences smaller price fluctuations and is considered to be less risky than TSLQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JETD	TSLQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.97%	35.92%	-5.95%
Volatility (6M) Calculated over the trailing 6-month period	64.81%	62.69%	+2.12%
Volatility (1Y) Calculated over the trailing 1-year period	76.19%	89.76%	-13.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.42%	94.89%	-23.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.42%	94.89%	-23.47%

JETD vs. TSLQ - Expense Ratio Comparison

JETD has a 0.95% expense ratio, which is lower than TSLQ's 1.17% expense ratio.

Dividends

JETD vs. TSLQ - Dividend Comparison

JETD has not paid dividends to shareholders, while TSLQ's dividend yield for the trailing twelve months is around 11.30%.

Position	TTM	2025	2024	2023	2022
JETD MAX Airlines -3X Inverse Leveraged ETN	0.00%	0.00%	0.00%	0.00%	0.00%
TSLQ Tradr 2X Short TSLA Daily ETF	11.30%	10.56%	4.95%	13.35%	2.56%

Frequently Asked Questions

Can I hold both JETD and TSLQ in my portfolio?

JETD and TSLQ have a correlation of 0.34, 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 TSLQ?

TSLQ has higher volatility (35.92%) compared to JETD (29.97%). In terms of maximum drawdown, JETD dropped -95.39% vs TSLQ's -98.73%.

Which ETF is better, JETD or TSLQ?

On 3-year performance, JETD leads with -51.14% vs -65.69% for TSLQ. On fees, JETD is cheaper at 0.95% per year. On volatility, JETD has been the lower-risk option at 29.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JETD or TSLQ?

Over the 3-year period, JETD has performed better with a -51.14% return vs -65.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JETD or TSLQ?

JETD is cheaper with a 0.95% expense ratio, compared with 1.17% for TSLQ.

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

TSLQ has the higher dividend yield at 11.30%, compared with 0.00% for JETD.

What is the main difference between JETD and TSLQ?

They also come from different issuers: Max and Tradr. Their fees differ too: 0.95% for JETD and 1.17% for TSLQ.

Which has better risk-adjusted returns?

TSLQ currently has the higher Sharpe Ratio (-0.74 vs -0.90), 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.