JETU vs. ITA

Last updated Jun 3, 2026

JETU (MAX Airlines 3X Leveraged ETN) and ITA (iShares U.S. Aerospace & Defense ETF) are both exchange-traded funds - JETU is a Leveraged Equities fund tracking the Prime Airlines Index - Benchmark TR Net, while ITA is a Aerospace & Defense fund tracking the Dow Jones U.S. Select Aerospace & Defense Index. Both are passively managed. Over the past year, JETU returned 53.37% vs 28.79% for ITA. A 0.61 correlation means they provide meaningful diversification when combined. JETU charges 0.95%/yr vs 0.38%/yr for ITA.

Performance

JETU vs. ITA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MAX Airlines 3X Leveraged ETN (JETU) and iShares U.S. Aerospace & Defense ETF (ITA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JETU achieves a 4.37% return, which is significantly lower than ITA's 6.42% return.

JETU

• 1D: -4.87%
• 1M: 21.55%
• YTD: 4.37%
• 6M: 23.38%
• 1Y: 53.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ITA

• 1D: -0.69%
• 1M: 5.58%
• YTD: 6.42%
• 6M: 13.50%
• 1Y: 28.79%
• 3Y*: 27.53%
• 5Y*: 16.48%
• 10Y*: 15.00%

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

JETU vs. ITA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JETU MAX Airlines 3X Leveraged ETN	4.37%	3.88%	38.00%	-16.85%
ITA iShares U.S. Aerospace & Defense ETF	6.42%	48.64%	15.81%	9.46%

Correlation

The correlation between JETU and ITA is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023	0.61

The correlation between JETU and ITA has been stable across timeframes, ranging from 0.59 to 0.61 - a consistent structural relationship.

Return for Risk

JETU vs. ITA — Risk / Return Rank

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

JETU

JETU Risk / Return Rank: 24
JETU Sharpe Ratio Rank: 21
JETU Sortino Ratio Rank: 27
JETU Omega Ratio Rank: 25
JETU Calmar Ratio Rank: 23
JETU Martin Ratio Rank: 22

ITA

ITA Risk / Return Rank: 37
ITA Sharpe Ratio Rank: 39
ITA Sortino Ratio Rank: 39
ITA Omega Ratio Rank: 36
ITA Calmar Ratio Rank: 37
ITA Martin Ratio Rank: 33

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.

JETU vs. ITA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MAX Airlines 3X Leveraged ETN (JETU) and iShares U.S. Aerospace & Defense ETF (ITA). 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.

	JETU	ITA	Difference
Sharpe ratio Return per unit of total volatility	0.74	1.39	-0.65
Sortino ratio Return per unit of downside risk	1.52	2.01	-0.49
Omega ratio Gain probability vs. loss probability	1.17	1.24	-0.07
Calmar ratio Return relative to maximum drawdown	1.11	1.87	-0.75
Martin ratio Return relative to average drawdown	2.81	5.10	-2.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JETU vs. ITA - Sharpe Ratio Comparison

The current JETU Sharpe Ratio is 0.74, which is lower than the ITA Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of JETU and ITA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JETU	ITA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.74	1.39	-0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.83	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.51	-0.40

Drawdowns

JETU vs. ITA - Drawdown Comparison

The maximum JETU drawdown since its inception was -68.64%, which is greater than ITA's maximum drawdown of -59.72%. Use the drawdown chart below to compare losses from any high point for JETU and ITA.

Drawdown Indicators

	JETU	ITA	Difference
Max Drawdown Largest peak-to-trough decline	-68.64%	-59.72%	-8.92%
Max Drawdown (1Y) Largest decline over 1 year	-49.39%	-15.82%	-33.57%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.82%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.72%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-51.00%	—
Current Drawdown Current decline from peak	-25.25%	-8.82%	-16.43%
Average Drawdown Average peak-to-trough decline	-29.52%	-9.46%	-20.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.59%	5.79%	+13.80%

Volatility

JETU vs. ITA - Volatility Comparison

MAX Airlines 3X Leveraged ETN (JETU) has a higher volatility of 27.69% compared to iShares U.S. Aerospace & Defense ETF (ITA) at 7.15%. This indicates that JETU's price experiences larger fluctuations and is considered to be riskier than ITA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JETU	ITA	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.69%	7.15%	+20.54%
Volatility (6M) Calculated over the trailing 6-month period	57.12%	17.66%	+39.46%
Volatility (1Y) Calculated over the trailing 1-year period	72.66%	20.80%	+51.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.54%	20.01%	+50.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.54%	23.14%	+47.40%

JETU vs. ITA - Expense Ratio Comparison

JETU has a 0.95% expense ratio, which is higher than ITA's 0.38% expense ratio.

Dividends

JETU vs. ITA - Dividend Comparison

JETU has not paid dividends to shareholders, while ITA's dividend yield for the trailing twelve months is around 0.47%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITA iShares U.S. Aerospace & Defense ETF	0.47%	0.55%	0.85%	0.93%	0.95%	0.82%	1.07%	1.54%	1.13%	0.91%	1.07%	1.04%
JETU MAX Airlines 3X 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%

Frequently Asked Questions

Can I hold both JETU and ITA in my portfolio?

JETU and ITA have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JETU or ITA?

JETU has higher volatility (27.69%) compared to ITA (7.15%). In terms of maximum drawdown, JETU dropped -68.64% vs ITA's -59.72%.

Which ETF is better, JETU or ITA?

On 1-year performance, JETU leads with 53.37% vs 28.79% for ITA. On fees, ITA is cheaper at 0.38% per year. On volatility, ITA has been the lower-risk option at 7.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JETU or ITA?

Over the 1-year period, JETU has performed better with a 53.37% return vs 28.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JETU or ITA?

ITA is cheaper with a 0.38% expense ratio, compared with 0.95% for JETU.

Which ETF pays a higher dividend yield, JETU or ITA?

ITA has the higher dividend yield at 0.47%, compared with 0.00% for JETU.

What is the main difference between JETU and ITA?

JETU is categorized as Leveraged Equities, while ITA is Aerospace & Defense. JETU tracks Prime Airlines Index - Benchmark TR Net, while ITA tracks Dow Jones U.S. Select Aerospace & Defense Index. They also come from different issuers: Max and iShares. Their fees differ too: 0.95% for JETU and 0.38% for ITA.

Which has better risk-adjusted returns?

ITA currently has the higher Sharpe Ratio (1.39 vs 0.74), 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.