MAX Airlines 3X Leveraged ETNs (JETU) Performance
JETU total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −35.6% since Dec 31, 2025
- 1 year
- −18.2% total return
- 3 years
- +13.9% a year
- Since first price
- −7.6% a year since 2023
JETU trailing returns vs SPY, QQQ, AGG
| Period | JETU total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −20.2% | −20.2% | −1.0% | −5.0% | +0.9% |
| 3 months | −42.9% | −42.9% | +3.2% | +1.9% | −0.4% |
| 6 months | −27.0% | −27.0% | +7.8% | +8.4% | −1.5% |
| YTD | −35.6% | −35.6% | +12.3% | +15.1% | −1.0% |
| 1 year | −18.2% | −18.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +47.8%+13.9%/yr | +47.8% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionJun 20, 2023 | −23.2%−7.6%/yr | −23.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: JETU vs SPY
From Jun 20, 2023: JETU grew to $7,676, SPY to $18,089.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
JETU returns by calendar year
2 of 2 full years positive. Best 2024 (+38.0%), worst 2025 (+3.9%). 2026 is year to date.
JETU annual returns table
| Year | JETU | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −35.6% | −54.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +3.9% | −68.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +38.0% | −35.9% | +24.9% | +25.6% | +1.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
JETU largest drawdowns
Now 54.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 21, 2025 | −68.6% | Apr 8, 2025 | Jan 6, 2026 | 3 months | 11 months |
| Jul 11, 2023 | −60.6% | Oct 27, 2023 | Jan 16, 2025 | 4 months | 1.5 years |
| Jul 6, 2026 | −54.7% | Oct 23, 2026 | not yet | 4 months | 4 months so far |
| Feb 6, 2026 | −49.4% | Mar 30, 2026 | Jul 2, 2026 | 52 days | 5 months |
| Jan 15, 2026 | −13.5% | Jan 28, 2026 | Feb 3, 2026 | 13 days | 19 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
JETU risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +11.9% | −6.5% |
| Volatility (annualized) | 61.9% | 62.7% |
| Sharpe ratio | 0.42 | 0.13 |
| Sortino ratio | 0.65 | 0.20 |
| Best month | +37.5% | +37.5% |
| Worst month | −34.0% | −34.0% |
| Best 12 months | +96.7% | +96.7% |
| Worst 12 months | −28.5% | −28.5% |
| Positive months | 58% | 54% |
| Beta vs S&P 500 | 3.17 | — |
| Correlation with S&P 500 | 0.64 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
JETU rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 29 | −28.5% | +7.2% | +96.7% | 66% |
| 3-year (a year) | 5 | +6.4% | +11.9% | +14.5% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
JETU performance overview
MAX Airlines 3X Leveraged ETNs (JETU) returned −18.2% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned −7.6% a year, turning $10,000 into about $7,676. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −68.6%, from Jan 21, 2025 to Apr 8, 2025, and it took 9 months to get back to the old high. Volatility has been 62.7% a year.
Related: JETU chart, JETU holdings, JETU valuation. See the JETU overview for the latest quote and fund facts.
JETU performance FAQ
What is the JETU return over the past year?
JETU returned −18.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 18.2%.
How much would $10,000 invested in JETU be worth?
$10,000 invested in JETU at its first recorded close on June 20, 2023 would be worth about $7,676 on October 23, 2026 with distributions reinvested.
What was the worst year for JETU?
The worst calendar year was 2025, with a total return of +3.9%. The best was 2024 at +38.0%.
What is the biggest drawdown of JETU?
The largest peak-to-trough decline was −68.6% between January 21, 2025 and April 8, 2025. It recovered to the old high on January 6, 2026, 9 months after the bottom.
How volatile is JETU?
Over the past 3 years JETU had an annualized volatility of 61.9% and a Sharpe ratio of 0.42 (excess return over 1–3 month T-bills per unit of risk).