MAX Airlines 3X Leveraged ETNs (JETU) Valuation
JETU valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 68.8 trailing earnings
- Forward P/E
- 11.4 analyst estimates
- Price / sales
- 0.52
- Price / book
- 3.51
- EV / EBITDA
- 14.0
- Earnings yield
- 1.45% inverse of P/E
- Dividend yield
- 1.42% of the holdings
- Return on equity
- 5.1% combined
- Net margin
- 0.8% combined
- Beta
- 1.10 weighted, vs S&P 500
JETU valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| JETU | 68.8 | 11.4 | 0.52 | 3.51 | 1.42% | 5.1% | 0.8% | 15.6% |
| SPY | 25.9 | 19.9 | 3.67 | 5.47 | 1.08% | 21.1% | 14.2% | 1.9% |
| QQQ | 34.2 | 23.4 | 5.93 | 9.27 | 0.58% | 27.1% | 17.4% | 6.9% |
| DIA | 20.9 | 18.4 | 3.16 | 5.52 | 1.55% | 26.4% | 15.1% | 0.0% |
| VTI | 28.2 | 19.4 | 3.31 | 5.00 | 1.07% | 17.7% | 11.8% | 4.6% |
| IWM | n/m | 13.9 | 1.25 | 2.03 | 1.38% | −1.7% | −1.0% | 28.1% |
Same method for every fund. n/m = not meaningful (combined trailing earnings below zero or close to it). Loss-makers = weight of holdings with negative trailing earnings.
JETU valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Industrials | 91.5% | 68.8 | 11.4 | 0.52 | 3.51 | 1.42% | 5.1% |
JETU earnings yield vs bond yields
Earnings yield = earnings ÷ price (1 ÷ P/E). The gap to bond yields is a rough gauge of the extra return stocks are priced to deliver.
How JETU weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
JETU largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| BA | The Boeing Company | 9.00% | 67.9 | 49.5 | 1.6 | — | 10.13% |
| DAL | Delta Air Lines, Inc. | 9.00% | 15.0 | 9.2 | 0.7 | 1.14% | 45.74% |
| GCP | General Electric Company | 9.00% | — | — | — | — | — |
| HWM | Howmet Aerospace Inc. | 9.00% | 47.6 | 36.0 | 9.7 | 0.25% | 14.45% |
| RTX | RTX Corporation | 9.00% | 34.1 | 24.6 | 2.8 | 1.51% | 20.16% |
| AAL | American Airlines Group Inc. | 9.00% | — | 5.3 | 0.1 | — | −28.38% |
| UPS | United Parcel Service, Inc. | 8.95% | 18.1 | 12.0 | 0.9 | 6.73% | 37.78% |
| FDX | FedEx Corporation | 8.59% | 15.8 | 14.2 | 0.7 | 1.66% | 41.51% |
| UAL | United Airlines Holdings, Inc. | 7.84% | 9.0 | 7.4 | 0.5 | — | 66.63% |
| GD | General Dynamics Corporation | 7.52% | 21.0 | 18.5 | 1.7 | 1.85% | 27.39% |
| LUV | Southwest Airlines Co. | 4.15% | 24.7 | 8.3 | 0.6 | 1.82% | 12.84% |
| JBLU | JetBlue Airways Corporation | 2.42% | — | 6.3 | 0.1 | — | −150.21% |
| ALK | Alaska Air Group, Inc. | 2.21% | — | 7.4 | 0.3 | — | −7.67% |
| RY4D | RYANAIR HLDGS ADR NEW/5 | 1.57% | — | — | — | — | — |
| ALGT | Allegiant Travel Company | 0.80% | 57.2 | 6.4 | 0.6 | — | 1.07% |
| CPA | Copa Holdings, S.A. | 0.74% | 8.7 | 6.8 | 1.4 | 5.15% | 6.47% |
| LTM | LATAM Airlines Group S.A. | 0.69% | 8.8 | 10.2 | 0.9 | 3.22% | 6.02% |
| SKYW | SkyWest, Inc. | 0.69% | 9.1 | 9.5 | 0.9 | — | 5.77% |
| ULCC | Frontier Group Holdings, Inc. | 0.36% | — | 11.7 | 0.3 | — | −9.71% |
Share of earnings = the holding's part of the fund's combined trailing profit. Green: earns more than its weight; orange: less. Symbol links go to each company's key metrics.
About JETU valuation
Adding up its 17 holdings with company data, JETU trades at 68.8 times trailing earnings and 11.4 times analysts' forward estimates, with a price-to-book ratio of 3.51 and a dividend yield of 1.42%. Its earnings yield of 1.45% is 3.87 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 86.9% of the fund and earn 248.3% of its combined profit. Companies that lost money over the past year are 15.6% of the covered weight.
How these figures are calculated. Each ratio treats the fund as one company: the earnings, sales and book value of every holding are added up in proportion to its weight and divided into the fund's price. In practice that is a weighted harmonic mean, so a single stock with a very high P/E cannot distort the result, and loss-making companies reduce the fund's earnings instead of being dropped. Covers 89.5% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: JETU chart, JETU performance, JETU holdings.
JETU valuation FAQ
What is the P/E ratio of JETU?
Based on its holdings, JETU has a trailing P/E of 68.8 and a forward P/E of 11.4 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of JETU?
The trailing earnings yield is 1.45% (1 ÷ P/E) and the forward earnings yield 8.76%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is JETU more expensive than the S&P 500?
JETU trades at 68.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 11.4 and 19.9.
What is the price-to-book ratio of JETU?
The holdings of JETU trade at 3.51 times book value, with a combined return on equity of 5.1%.