JETU vs. WNTR

Last updated Jun 25, 2026

JETU (MAX Airlines 3X Leveraged ETN) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - JETU is a Leveraged Equities fund tracking the Prime Airlines Index - Benchmark TR Net, while WNTR is a Derivative Income fund actively managed by YieldMax. JETU is passively managed, while WNTR is actively managed. Over the past year, JETU returned 97.92% vs 97.02% for WNTR. At a correlation of -0.30, they often move in opposite directions. JETU charges 0.95%/yr vs 1.01%/yr for WNTR.

Performance

JETU vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MAX Airlines 3X Leveraged ETN (JETU) and YieldMax Short MSTR Option Income Strategy ETF (WNTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JETU achieves a 32.26% return, which is significantly higher than WNTR's 10.46% return.

JETU

• 1D: 8.15%
• 1M: 37.10%
• YTD: 32.26%
• 6M: 25.12%
• 1Y: 97.92%
• 3Y*: 17.57%
• 5Y*: —
• 10Y*: —

WNTR

• 1D: 6.01%
• 1M: 37.47%
• YTD: 10.46%
• 6M: 14.06%
• 1Y: 97.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JETU vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
JETU MAX Airlines 3X Leveraged ETN	32.26%	37.59%
WNTR YieldMax Short MSTR Option Income Strategy ETF	10.46%	52.78%

Correlation

The correlation between JETU and WNTR is -0.25, 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	-0.25
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.30

Return for Risk

JETU vs. WNTR — Risk / Return Rank

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

JETU

JETU Risk / Return Rank: 42
JETU Sharpe Ratio Rank: 41
JETU Sortino Ratio Rank: 47
JETU Omega Ratio Rank: 41
JETU Calmar Ratio Rank: 45
JETU Martin Ratio Rank: 36

WNTR

WNTR Risk / Return Rank: 51
WNTR Sharpe Ratio Rank: 63
WNTR Sortino Ratio Rank: 49
WNTR Omega Ratio Rank: 52
WNTR Calmar Ratio Rank: 51
WNTR Martin Ratio Rank: 40

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. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MAX Airlines 3X Leveraged ETN (JETU) and YieldMax Short MSTR Option Income Strategy ETF (WNTR). 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	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	1.29	1.85	-0.55
Sortino ratio: Return per unit of downside risk	2.09	2.20	-0.12
Omega ratio: Gain probability vs. loss probability	1.24	1.30	-0.05
Calmar ratio: Return relative to maximum drawdown	1.99	2.29	-0.29
Martin ratio: Return relative to average drawdown	4.88	5.85	-0.96

JETU vs. WNTR - Sharpe Ratio Comparison

The current JETU Sharpe Ratio is 1.29, which is lower than the WNTR Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of JETU and WNTR, 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

JETU vs. WNTR - Drawdown Comparison

The maximum JETU drawdown since its inception was -68.64%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for JETU and WNTR.

Drawdown Indicators

	JETU	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-68.64%	-42.65%	-25.99%
Max Drawdown (1Y) Largest decline over 1 year	-49.39%	-42.65%	-6.74%
Max Drawdown (3Y) Largest decline over 3 years	-68.64%	—	—
Current Drawdown Current decline from peak	-5.27%	-9.88%	+4.61%
Average Drawdown Average peak-to-trough decline	-29.29%	-20.93%	-8.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.12%	16.70%	+3.42%

Volatility

JETU vs. WNTR - Volatility Comparison

MAX Airlines 3X Leveraged ETN (JETU) has a higher volatility of 29.98% compared to YieldMax Short MSTR Option Income Strategy ETF (WNTR) at 17.54%. This indicates that JETU's price experiences larger fluctuations and is considered to be riskier than WNTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JETU	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.98%	17.54%	+12.44%
Volatility (6M) Calculated over the trailing 6-month period	61.95%	45.99%	+15.96%
Volatility (1Y) Calculated over the trailing 1-year period	76.19%	52.83%	+23.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.63%	53.10%	+18.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.63%	53.10%	+18.53%

JETU vs. WNTR - Expense Ratio Comparison

JETU has a 0.95% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

JETU vs. WNTR - Dividend Comparison

JETU has not paid dividends to shareholders, while WNTR's dividend yield for the trailing twelve months is around 96.66%.

Position	TTM	2025
JETU MAX Airlines 3X Leveraged ETN	0.00%	0.00%
WNTR YieldMax Short MSTR Option Income Strategy ETF	96.66%	58.56%

Frequently Asked Questions

Can I hold both JETU and WNTR in my portfolio?

JETU and WNTR have a correlation of -0.25, 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 WNTR?

JETU has higher volatility (29.98%) compared to WNTR (17.54%). In terms of maximum drawdown, JETU dropped -68.64% vs WNTR's -42.65%.

Which ETF is better, JETU or WNTR?

On 1-year performance, JETU leads with 97.92% vs 97.02% for WNTR. On fees, JETU is cheaper at 0.95% per year. On volatility, WNTR has been the lower-risk option at 17.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JETU or WNTR?

Over the 1-year period, JETU has performed better with a 97.92% return vs 97.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JETU or WNTR?

JETU is cheaper with a 0.95% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 96.66%, compared with 0.00% for JETU.

What is the main difference between JETU and WNTR?

JETU is categorized as Leveraged Equities, while WNTR is Derivative Income. They also come from different issuers: Max and YieldMax. Their fees differ too: 0.95% for JETU and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (1.85 vs 1.29), 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.