JETD vs. XLI
JETD (MAX Airlines -3X Inverse Leveraged ETN) and XLI (Industrial Select Sector SPDR Fund) are both exchange-traded funds - JETD is a Inverse Equities fund tracking the Prime Airlines Index - Benchmark TR Net (--300%), while XLI is a Industrials Equities fund tracking the Industrial Select Sector Index. Both are passively managed. Over the past 3 years, JETD returned -54.06%/yr vs 22.49%/yr for XLI. At a correlation of -0.76, they often move in opposite directions. JETD charges 0.95%/yr vs 0.08%/yr for XLI.
Performance
JETD vs. XLI - Performance Comparison
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Returns By Period
In the year-to-date period, JETD achieves a -48.24% return, which is significantly lower than XLI's 17.82% return.
JETD
- 1D
- -1.50%
- 1M
- -29.97%
- YTD
- -48.24%
- 6M
- -44.81%
- 1Y
- -75.71%
- 3Y*
- -54.06%
- 5Y*
- —
- 10Y*
- —
XLI
- 1D
- 0.74%
- 1M
- 6.10%
- YTD
- 17.82%
- 6M
- 16.37%
- 1Y
- 29.73%
- 3Y*
- 22.49%
- 5Y*
- 14.10%
- 10Y*
- 14.79%
JETD vs. XLI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JETD MAX Airlines -3X Inverse Leveraged ETN | -48.24% | -59.89% | -51.72% | -1.53% |
XLI Industrial Select Sector SPDR Fund | 17.82% | 19.35% | 17.31% | 10.39% |
Correlation
The correlation between JETD and XLI 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 | -0.76 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2023 | -0.76 |
The correlation between JETD and XLI has been stable across timeframes, ranging from -0.76 to -0.76 - a consistent structural relationship.
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Return for Risk
JETD vs. XLI — Risk / Return Rank
JETD
XLI
JETD vs. XLI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MAX Airlines -3X Inverse Leveraged ETN (JETD) and Industrial Select Sector SPDR Fund (XLI). 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 | XLI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.85 | ||
| Sortino ratioReturn per unit of downside risk | -4.48 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 1.32 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -1.02 | 2.45 | -3.46 |
| Martin ratioReturn relative to average drawdown | -1.61 | 9.64 | -11.25 |
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Drawdowns
JETD vs. XLI - Drawdown Comparison
The maximum JETD drawdown since its inception was -94.62%, which is greater than XLI's maximum drawdown of -62.26%. Use the drawdown chart below to compare losses from any high point for JETD and XLI.
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Drawdown Indicators
| JETD | XLI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.62% | -62.26% | -32.36% |
Max Drawdown (1Y)Largest decline over 1 year | -74.71% | -12.21% | -62.50% |
Max Drawdown (3Y)Largest decline over 3 years | -94.62% | -18.49% | -76.13% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.64% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.33% | — |
Current DrawdownCurrent decline from peak | -94.62% | 0.00% | -94.62% |
Average DrawdownAverage peak-to-trough decline | -61.79% | -9.19% | -52.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 48.75% | 3.09% | +45.66% |
Volatility
JETD vs. XLI - Volatility Comparison
MAX Airlines -3X Inverse Leveraged ETN (JETD) has a higher volatility of 31.89% compared to Industrial Select Sector SPDR Fund (XLI) at 5.80%. This indicates that JETD's price experiences larger fluctuations and is considered to be riskier than XLI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JETD | XLI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 31.89% | 5.80% | +26.09% |
Volatility (6M)Calculated over the trailing 6-month period | 64.24% | 13.50% | +50.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.79% | 16.22% | +59.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.56% | 17.53% | +54.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.56% | 20.05% | +51.51% |
JETD vs. XLI - Expense Ratio Comparison
JETD has a 0.95% expense ratio, which is higher than XLI's 0.08% expense ratio.
Dividends
JETD vs. XLI - Dividend Comparison
JETD has not paid dividends to shareholders, while XLI's dividend yield for the trailing twelve months is around 1.37%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XLI Industrial Select Sector SPDR Fund | 1.37% | 1.29% | 1.44% | 1.63% | 1.63% | 1.25% | 1.55% | 1.94% | 2.15% | 1.77% | 2.07% | 2.15% |
Frequently Asked Questions
JETD and XLI 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 (31.89%) compared to XLI (5.80%). In terms of maximum drawdown, JETD dropped -94.62% vs XLI's -62.26%.
On 3-year performance, XLI leads with 22.49% vs -54.06% for JETD. On fees, XLI is cheaper at 0.08% per year. On volatility, XLI has been the lower-risk option at 5.80%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XLI has performed better with a 22.49% return vs -54.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLI is cheaper with a 0.08% expense ratio, compared with 0.95% for JETD.
XLI has the higher dividend yield at 1.37%, compared with 0.00% for JETD.
JETD is categorized as Inverse Equities, while XLI is Industrials Equities. JETD tracks Prime Airlines Index - Benchmark TR Net (--300%), while XLI tracks Industrial Select Sector Index. They also come from different issuers: Max and State Street. Their fees differ too: 0.95% for JETD and 0.08% for XLI.
XLI currently has the higher Sharpe Ratio (1.84 vs -1.00), 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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