Bank of MontrealInverse EquityJETD · NYSE Arca

MAX Airlines - 3X Inverse Leveraged ETNs (JETD)

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Price: $2.91; —12 Nov 2026
Assets: $5.3M; Total net assets
Expense ratio: 0.95%; Category 0.00%
Yield: 0.00%; Trailing distributions

1Y return: -53.2%-24.2%; Category -29.0%
3Y CAGR: -57.6%-21.8%; Category -35.8%
5Y CAGR: —; Category -23.7%

$2.91—12 Nov 2026

Fund

Assets: $5.3M
Expense: 0.95%
Categ. exp: 0.00%
Yield: 0.00%

ReturnFundCateg.

1Y-53.2%-29.0%

3Y-57.6%-35.8%

5Y—-23.7%

Launch-47.0%—

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MAX Airlines - 3X Inverse Leveraged ETNs

Calendar-year returns

Fund only: no comparison series covers this fund's history.

Risk statistics

Five years of daily closes. Risk-free rate 4% a year.

Standard deviation: —
Maximum drawdown: —
Sharpe ratio: —
Sortino ratio: —
Beta: —
Alpha: —
R²: —
Information ratio: —
Upside capture: —
Downside capture: —
Tracking error: —

Trailing returns compared with benchmark
Period	1M	3M	6M	YTD	1Y	3YCAGR	5YCAGR	10YCAGR	LaunchCAGR
ETF	-23.4%	+26.3%	-27.0%	-39.9%	-53.2%	-57.6%	—	—	-47.0%
Inverse Equity average	11.5%	8.2%	-9.1%	-31.0%	-29.0%	-35.8%	-23.7%	-29.3%	-37.1%
Difference	-34.8%	+18.1%	-17.9%	-8.8%	-24.2%	-21.8%	—	—	-9.8%

Holdings

The 10 largest positions make up 86.4% of the fund.

Top holdings

Largest holdings by weight
Ticker	Holding	Weight
DAL	Delta Air Lines Inc	9.50%
AAL	American Airlines Group Inc	9.50%
GE	GE Aerospace	9.15%
HWM	Howmet Aerospace Inc	9.10%
UAL	United Airlines Holdings Inc	8.78%
RTX	RTX Corp	8.72%
BA	Boeing Co	8.57%
FDX	FedEx Corp	8.57%
UPS	United Parcel Service Inc Class B	8.22%
GD	General Dynamics Corp	6.31%

Portfolio valuation

Weighted averages of what the fund holds.

P/E: 20.3
P/B: 3.3
P/S: 0.6
P/CF: 7.0

Sector allocation

Share of the equity the fund holds.

Industrials100.0%

Asset mix

Stocks100.0%

ETF details

Issuer: Bank of Montreal
Category: Equity · Inverse Equity
Ticker: JETD
Exchange: NYSE Arca
Inception: 20 Jun 2023 (3.4 years)
Structure: Exchange Traded Fund
Expense ratio: 0.95% (category 0.00%)
Holdings turnover: 0%
Distribution yield: 0.00%
Beta, 3 years: -2.86
Total net assets: $5.3M

Prices and returns as of 12 Nov 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

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