JETD vs. XTN
JETD (MAX Airlines -3X Inverse Leveraged ETN) and XTN (SPDR S&P Transportation ETF) are both exchange-traded funds - JETD is a Inverse Equities fund tracking the Prime Airlines Index - Benchmark TR Net (--300%), while XTN is a Industrials Equities fund tracking the S&P Transportation Select Industry Index. Both are passively managed. Over the past 3 years, JETD returned -55.29%/yr vs 10.26%/yr for XTN. Their -0.79 correlation means they have often moved in opposite directions in the past. JETD charges 0.95%/yr vs 0.35%/yr for XTN.
Performance
JETD vs. XTN - 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 XTN's 21.69% 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%
XTN
- 1D
- 1.67%
- 1M
- -4.39%
- 6M
- 10.95%
- YTD
- 21.69%
- 1Y
- 38.67%
- 3Y*
- 10.26%
- 5Y*
- 7.10%
- 10Y*
- 10.02%
- ALL TIME*
- 10.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $203.79K | $315.96K | $386.43K | |
| $3.13M | $3.62M | $6.07M |
JETD vs. XTN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JETD MAX Airlines -3X Inverse Leveraged ETN | -55.07% | -59.89% | -51.72% | -1.53% |
XTN SPDR S&P Transportation ETF | 21.69% | 6.33% | 4.86% | 5.92% |
Correlation
The correlation between JETD and XTN is -0.74, 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. | -0.75 |
Correlation (3Y) Balances recent behavior with more history. | -0.79 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2023 | -0.79 |
The correlation between JETD and XTN has been stable across timeframes, ranging from -0.79 to -0.74 - a consistent structural relationship.
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Return for Risk
JETD vs. XTN — Risk / Return Rank
JETD
XTN
JETD vs. XTN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MAX Airlines -3X Inverse Leveraged ETN (JETD) and SPDR S&P Transportation ETF (XTN). 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 | XTN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.40 | ||
| Sortino ratioReturn per unit of downside risk | -3.84 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 1.25 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -1.01 | 2.25 | -3.26 |
| Martin ratioReturn relative to average drawdown | -1.63 | 6.27 | -7.89 |
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Drawdowns
JETD vs. XTN - Drawdown Comparison
The maximum JETD drawdown since its inception was -95.39%, which is greater than XTN's maximum drawdown of -43.77%. Use the drawdown chart below to compare losses from any high point for JETD and XTN.
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Drawdown Indicators
| JETD | XTN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.39% | -43.77% | -51.62% |
Max Drawdown (1Y)Largest decline over 1 year | -74.49% | -17.28% | -57.21% |
Max Drawdown (3Y)Largest decline over 3 years | -95.39% | -33.69% | -61.70% |
Max Drawdown (5Y)Largest decline over 5 years | — | -35.05% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.77% | — |
Current DrawdownCurrent decline from peak | -95.33% | -5.88% | -89.45% |
Average DrawdownAverage peak-to-trough decline | -63.02% | -10.85% | -52.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.56% | 6.19% | +41.37% |
Volatility
JETD vs. XTN - Volatility Comparison
MAX Airlines -3X Inverse Leveraged ETN (JETD) has a higher volatility of 22.02% compared to SPDR S&P Transportation ETF (XTN) at 5.89%. This indicates that JETD's price experiences larger fluctuations and is considered to be riskier than XTN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JETD | XTN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.02% | 5.89% | +16.13% |
Volatility (6M)Calculated over the trailing 6-month period | 66.00% | 22.33% | +43.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.75% | 27.66% | +48.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.50% | 26.87% | +44.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.50% | 26.17% | +45.33% |
JETD vs. XTN - Expense Ratio Comparison
JETD has a 0.95% expense ratio, which is higher than XTN's 0.35% expense ratio.
Dividends
JETD vs. XTN - Dividend Comparison
JETD has not paid dividends to shareholders, while XTN's dividend yield for the trailing twelve months is around 0.66%.
| 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% |
XTN SPDR S&P Transportation ETF | 0.66% | 0.78% | 0.93% | 0.73% | 1.04% | 1.02% | 0.75% | 1.17% | 0.98% | 0.63% | 0.66% | 1.03% |
Frequently Asked Questions
JETD and XTN have a correlation of -0.74, 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 XTN (5.89%). In terms of maximum drawdown, JETD dropped -95.39% vs XTN's -43.77%.
On 3-year performance, XTN leads with 10.26% vs -55.29% for JETD. On fees, XTN is cheaper at 0.35% per year. On volatility, XTN has been the lower-risk option at 5.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XTN has performed better with a 10.26% return vs -55.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XTN is cheaper with a 0.35% expense ratio, compared with 0.95% for JETD.
XTN has the higher dividend yield at 0.66%, compared with 0.00% for JETD.
JETD is categorized as Inverse Equities, while XTN is Industrials Equities. JETD tracks Prime Airlines Index - Benchmark TR Net (--300%), while XTN tracks S&P Transportation Select Industry Index. They also come from different issuers: Max and State Street. Their fees differ too: 0.95% for JETD and 0.35% for XTN.
XTN currently has the higher Sharpe Ratio (1.41 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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