ULCC vs. JBLU

Last updated Apr 2, 2026

Compare and contrast key facts about Frontier Group Holdings, Inc. (ULCC) and JetBlue Airways Corporation (JBLU).

Performance

ULCC vs. JBLU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Frontier Group Holdings, Inc. (ULCC) and JetBlue Airways Corporation (JBLU). The values are adjusted to include any dividend payments, if applicable.

ULCC vs. JBLU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ULCC Frontier Group Holdings, Inc.	-20.38%	-33.76%	30.22%	-46.84%	-24.32%	-28.01%
JBLU JetBlue Airways Corporation	0.00%	-42.11%	41.62%	-14.35%	-54.49%	-30.09%

Fundamentals

Market Cap ULCC : $862.39M JBLU : $1.68B
EPS ULCC : -$0.60 JBLU : -$1.65
PS Ratio ULCC : 0.23 JBLU : 0.18
PB Ratio ULCC : 1.99 JBLU : 0.79
Total Revenue (TTM) ULCC : $3.72B JBLU : $9.06B
Gross Profit (TTM) ULCC : $1.32B JBLU : $3.07B
EBITDA (TTM) ULCC : -$38.00M JBLU : $494.00M

Returns By Period

ULCC

• 1D: 6.23%
• 1M: -7.18%
• YTD: -20.38%
• 6M: -10.39%
• 1Y: -13.19%
• 3Y*: -27.50%
• 5Y*: —
• 10Y*: —

JBLU

• 1D: 2.94%
• 1M: -12.84%
• YTD: 0.00%
• 6M: -2.78%
• 1Y: -4.81%
• 3Y*: -14.50%
• 5Y*: -25.90%
• 10Y*: -14.32%

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

Return for Risk

ULCC vs. JBLU — Risk / Return Rank

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

ULCC

ULCC Risk / Return Rank: 35
ULCC Sharpe Ratio Rank: 33
ULCC Sortino Ratio Rank: 39
ULCC Omega Ratio Rank: 37
ULCC Calmar Ratio Rank: 33
ULCC Martin Ratio Rank: 31

JBLU

JBLU Risk / Return Rank: 37
JBLU Sharpe Ratio Rank: 36
JBLU Sortino Ratio Rank: 38
JBLU Omega Ratio Rank: 37
JBLU Calmar Ratio Rank: 36
JBLU Martin Ratio Rank: 36

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.

ULCC vs. JBLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Frontier Group Holdings, Inc. (ULCC) and JetBlue Airways Corporation (JBLU). 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.

	ULCC	JBLU	Difference
Sharpe ratio Return per unit of total volatility	-0.16	-0.07	-0.08
Sortino ratio Return per unit of downside risk	0.39	0.37	+0.02
Omega ratio Gain probability vs. loss probability	1.04	1.05	0.00
Calmar ratio Return relative to maximum drawdown	-0.26	-0.15	-0.11
Martin ratio Return relative to average drawdown	-0.62	-0.32	-0.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ULCC vs. JBLU - Sharpe Ratio Comparison

The current ULCC Sharpe Ratio is -0.16, which is lower than the JBLU Sharpe Ratio of -0.07. The chart below compares the historical Sharpe Ratios of ULCC and JBLU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ULCC	JBLU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.16	-0.07	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.44	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.27	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.41	-0.09	-0.32

Correlation

The correlation between ULCC and JBLU is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ULCC vs. JBLU - Dividend Comparison

Neither ULCC nor JBLU has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

ULCC vs. JBLU - Drawdown Comparison

The maximum ULCC drawdown since its inception was -87.04%, roughly equal to the maximum JBLU drawdown of -90.91%. Use the drawdown chart below to compare losses from any high point for ULCC and JBLU.

Drawdown Indicators

	ULCC	JBLU	Difference
Max Drawdown Largest peak-to-trough decline	-87.04%	-90.91%	+3.87%
Max Drawdown (1Y) Largest decline over 1 year	-52.45%	-37.62%	-14.83%
Max Drawdown (5Y) Largest decline over 5 years	—	-83.88%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-85.58%	—
Current Drawdown Current decline from peak	-82.88%	-85.43%	+2.55%
Average Drawdown Average peak-to-trough decline	-59.67%	-60.25%	+0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.08%	17.36%	+4.72%

Volatility

ULCC vs. JBLU - Volatility Comparison

The current volatility for Frontier Group Holdings, Inc. (ULCC) is 19.77%, while JetBlue Airways Corporation (JBLU) has a volatility of 22.53%. This indicates that ULCC experiences smaller price fluctuations and is considered to be less risky than JBLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ULCC	JBLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.77%	22.53%	-2.76%
Volatility (6M) Calculated over the trailing 6-month period	51.21%	43.36%	+7.85%
Volatility (1Y) Calculated over the trailing 1-year period	84.62%	65.85%	+18.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.04%	58.70%	+9.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.04%	53.61%	+14.43%

Financials

ULCC vs. JBLU - Profitability Comparison

The chart below illustrates the profitability comparison between Frontier Group Holdings, Inc. and JetBlue Airways Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ULCC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Frontier Group Holdings, Inc. reported a gross profit of 464.00M and revenue of 997.00M. Therefore, the gross margin over that period was 46.5%.

JBLU - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, JetBlue Airways Corporation reported a gross profit of 1.01B and revenue of 2.24B. Therefore, the gross margin over that period was 45.2%.

ULCC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Frontier Group Holdings, Inc. reported an operating income of 49.00M and revenue of 997.00M, resulting in an operating margin of 4.9%.

JBLU - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, JetBlue Airways Corporation reported an operating income of -100.00M and revenue of 2.24B, resulting in an operating margin of -4.5%.

ULCC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Frontier Group Holdings, Inc. reported a net income of 53.00M and revenue of 997.00M, resulting in a net margin of 5.3%.

JBLU - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, JetBlue Airways Corporation reported a net income of -177.00M and revenue of 2.24B, resulting in a net margin of -7.9%.