JETD vs. TSLZ

Last updated Jun 26, 2026

JETD (MAX Airlines -3X Inverse Leveraged ETN) and TSLZ (T-Rex 2X Inverse Tesla Daily Target ETF) are both Inverse Equities funds. JETD is passively managed, while TSLZ is actively managed. Over the past year, JETD returned -77.54% vs -55.71% for TSLZ. At a 0.38 correlation, their price movements are largely independent. JETD charges 0.95%/yr vs 1.05%/yr for TSLZ.

Performance

JETD vs. TSLZ - Performance Comparison

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

Returns By Period

In the year-to-date period, JETD achieves a -54.04% return, which is significantly lower than TSLZ's 14.79% return.

JETD

• 1D: -4.72%
• 1M: -31.48%
• YTD: -54.04%
• 6M: -51.71%
• 1Y: -77.54%
• 3Y*: -55.58%
• 5Y*: —
• 10Y*: —

TSLZ

• 1D: 0.15%
• 1M: 26.46%
• YTD: 14.79%
• 6M: 33.14%
• 1Y: -55.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JETD vs. TSLZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JETD MAX Airlines -3X Inverse Leveraged ETN	-54.04%	-59.89%	-51.72%	-38.69%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	14.79%	-75.98%	-88.79%	-24.75%

Correlation

The correlation between JETD and TSLZ 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 (All Time) Calculated using the full available price history since Oct 19, 2023	0.38

Return for Risk

JETD vs. TSLZ — Risk / Return Rank

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

JETD

JETD Risk / Return Rank: 1
JETD Sharpe Ratio Rank: 2
JETD Sortino Ratio Rank: 1
JETD Omega Ratio Rank: 1
JETD Calmar Ratio Rank: 0
JETD Martin Ratio Rank: 1

TSLZ

TSLZ Risk / Return Rank: 4
TSLZ Sharpe Ratio Rank: 4
TSLZ Sortino Ratio Rank: 4
TSLZ Omega Ratio Rank: 5
TSLZ Calmar Ratio Rank: 3
TSLZ Martin Ratio Rank: 5

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. TSLZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MAX Airlines -3X Inverse Leveraged ETN (JETD) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). 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	TSLZ	Difference
Sharpe ratio: Return per unit of total volatility	-1.03	-0.65	-0.38
Sortino ratio: Return per unit of downside risk	-1.99	-0.72	-1.27
Omega ratio: Gain probability vs. loss probability	0.77	0.92	-0.16
Calmar ratio: Return relative to maximum drawdown	-1.01	-0.77	-0.25
Martin ratio: Return relative to average drawdown	-1.68	-0.97	-0.71

JETD vs. TSLZ - Sharpe Ratio Comparison

The current JETD Sharpe Ratio is -1.03, which is lower than the TSLZ Sharpe Ratio of -0.65. The chart below compares the historical Sharpe Ratios of JETD and TSLZ, 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. TSLZ - Drawdown Comparison

The maximum JETD drawdown since its inception was -95.22%, roughly equal to the maximum TSLZ drawdown of -99.11%. Use the drawdown chart below to compare losses from any high point for JETD and TSLZ.

Drawdown Indicators

	JETD	TSLZ	Difference
Max Drawdown Largest peak-to-trough decline	-95.22%	-99.11%	+3.89%
Max Drawdown (1Y) Largest decline over 1 year	-76.78%	-72.88%	-3.90%
Max Drawdown (3Y) Largest decline over 3 years	-95.22%	—	—
Current Drawdown Current decline from peak	-95.22%	-98.79%	+3.57%
Average Drawdown Average peak-to-trough decline	-61.93%	-75.77%	+13.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.65%	57.50%	-9.85%

Volatility

JETD vs. TSLZ - Volatility Comparison

MAX Airlines -3X Inverse Leveraged ETN (JETD) has a higher volatility of 31.75% compared to T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) at 26.94%. This indicates that JETD's price experiences larger fluctuations and is considered to be riskier than TSLZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JETD	TSLZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.75%	26.94%	+4.81%
Volatility (6M) Calculated over the trailing 6-month period	64.66%	56.72%	+7.94%
Volatility (1Y) Calculated over the trailing 1-year period	75.92%	86.51%	-10.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.61%	116.72%	-45.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.61%	116.72%	-45.11%

JETD vs. TSLZ - Expense Ratio Comparison

JETD has a 0.95% expense ratio, which is lower than TSLZ's 1.05% expense ratio.

Dividends

JETD vs. TSLZ - Dividend Comparison

JETD has not paid dividends to shareholders, while TSLZ's dividend yield for the trailing twelve months is around 0.60%.

Position	TTM	2025	2024	2023
JETD MAX Airlines -3X Inverse Leveraged ETN	0.00%	0.00%	0.00%	0.00%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	0.60%	0.69%	2.08%	12.15%

Frequently Asked Questions

Can I hold both JETD and TSLZ in my portfolio?

JETD and TSLZ 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 TSLZ?

JETD has higher volatility (31.75%) compared to TSLZ (26.94%). In terms of maximum drawdown, JETD dropped -95.22% vs TSLZ's -99.11%.

Which ETF is better, JETD or TSLZ?

On 1-year performance, TSLZ leads with -55.71% vs -77.54% for JETD. On fees, JETD is cheaper at 0.95% per year. On volatility, TSLZ has been the lower-risk option at 26.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JETD or TSLZ?

Over the 1-year period, TSLZ has performed better with a -55.71% return vs -77.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JETD or TSLZ?

JETD is cheaper with a 0.95% expense ratio, compared with 1.05% for TSLZ.

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

TSLZ has the higher dividend yield at 0.60%, compared with 0.00% for JETD.

What is the main difference between JETD and TSLZ?

They also come from different issuers: Max and T-Rex. Their fees differ too: 0.95% for JETD and 1.05% for TSLZ.

Which has better risk-adjusted returns?

TSLZ currently has the higher Sharpe Ratio (-0.65 vs -1.03), 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.