JETU vs. DBO
JETU (MAX Airlines 3X Leveraged ETN) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - JETU is a Leveraged Equities fund tracking the Prime Airlines Index - Benchmark TR Net, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. Both are passively managed. Over the past 3 years, JETU returned 17.24%/yr vs 12.33%/yr for DBO. Their -0.20 correlation means they have often moved in opposite directions in the past. JETU charges 0.95%/yr vs 0.78%/yr for DBO.
Performance
JETU vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, JETU achieves a 33.50% return, which is significantly lower than DBO's 66.72% return.
JETU
- 1D
- 9.11%
- 1M
- -5.14%
- 6M
- 15.46%
- YTD
- 33.50%
- 1Y
- 97.78%
- 3Y*
- 17.24%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 16.53%
DBO
- 1D
- -5.53%
- 1M
- 17.71%
- 6M
- 53.16%
- YTD
- 66.72%
- 1Y
- 51.44%
- 3Y*
- 12.33%
- 5Y*
- 13.64%
- 10Y*
- 11.43%
- ALL TIME*
- 0.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.34M | $10.71M | $13.49M | |
| $63.21K | $100.55K | $199.95K |
JETU vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JETU MAX Airlines 3X Leveraged ETN | 33.50% | 3.88% | 38.00% | -15.80% |
DBO Invesco DB Oil Fund | 66.72% | -11.71% | 7.85% | 2.71% |
Correlation
The correlation between JETU and DBO is -0.46, 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. | -0.46 |
Correlation (3Y) Balances recent behavior with more history. | -0.22 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2023 | -0.20 |
Over the past year, the inverse relationship between JETU and DBO has strengthened: their correlation has moved from -0.20 to -0.46, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
JETU vs. DBO — Risk / Return Rank
JETU
DBO
JETU vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MAX Airlines 3X Leveraged ETN (JETU) and Invesco DB Oil Fund (DBO). 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.
| JETU | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.23 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | 1.86 | +0.13 |
| Martin ratioReturn relative to average drawdown | 4.92 | 5.64 | -0.73 |
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Drawdowns
JETU vs. DBO - Drawdown Comparison
The maximum JETU drawdown since its inception was -68.64%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for JETU and DBO.
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Drawdown Indicators
| JETU | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.64% | -90.18% | +21.54% |
Max Drawdown (1Y)Largest decline over 1 year | -49.39% | -27.73% | -21.66% |
Max Drawdown (3Y)Largest decline over 3 years | -68.64% | -28.20% | -40.44% |
Max Drawdown (5Y)Largest decline over 5 years | — | -37.68% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -61.69% | — |
Current DrawdownCurrent decline from peak | -6.06% | -56.13% | +50.07% |
Average DrawdownAverage peak-to-trough decline | -28.65% | -62.20% | +33.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.96% | 9.16% | +10.80% |
Volatility
JETU vs. DBO - Volatility Comparison
MAX Airlines 3X Leveraged ETN (JETU) has a higher volatility of 21.11% compared to Invesco DB Oil Fund (DBO) at 18.99%. This indicates that JETU's price experiences larger fluctuations and is considered to be riskier than DBO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JETU | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.11% | 18.99% | +2.12% |
Volatility (6M)Calculated over the trailing 6-month period | 62.99% | 34.30% | +28.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.56% | 38.86% | +36.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.39% | 33.43% | +37.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.39% | 32.24% | +39.15% |
JETU vs. DBO - Expense Ratio Comparison
JETU has a 0.95% expense ratio, which is higher than DBO's 0.78% expense ratio.
Dividends
JETU vs. DBO - Dividend Comparison
JETU has not paid dividends to shareholders, while DBO's dividend yield for the trailing twelve months is around 2.11%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 2.11% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% |
JETU MAX Airlines 3X Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JETU and DBO have a correlation of -0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JETU has higher volatility (21.11%) compared to DBO (18.99%). In terms of maximum drawdown, JETU dropped -68.64% vs DBO's -90.18%.
On 3-year performance, JETU leads with 17.24% vs 12.33% for DBO. On fees, DBO is cheaper at 0.78% per year. On volatility, DBO has been the lower-risk option at 18.99%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, JETU has performed better with a 17.24% return vs 12.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBO is cheaper with a 0.78% expense ratio, compared with 0.95% for JETU.
DBO has the higher dividend yield at 2.11%, compared with 0.00% for JETU.
JETU is categorized as Leveraged Equities, while DBO is Oil & Gas. JETU tracks Prime Airlines Index - Benchmark TR Net, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: Max and Invesco. Their fees differ too: 0.95% for JETU and 0.78% for DBO.
DBO currently has the higher Sharpe Ratio (1.33 vs 1.30), 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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