At a glance
JETS charges 0.6% a year, above the 0.36% average of the 6 funds most like it (the 6th cheapest of 7). It has $959.1M in assets, the 6th largest of that group; it paid 0.85% of its price in distributions over the past 12 months, annual. Over the past year it returned +6.9% with distributions reinvested (S&P 500: +11.5%), 6th of those 7 funds; over three years it returned +22.7% a year. At its worst it fell 60.6% in the 2020 crash (S&P 500: 33.7%) and 35.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 71 months and 25 months after the lows. Its ten largest positions make up 66.0% of the fund, out of 48 in all.
The short version
U.S. Global Jets ETF (JETS) tracks the U.S. Global Jets Index, a basket of roughly 50 airline and travel stocks built by an affiliate of its adviser, US Global Investors. The index resets the four largest U.S. airlines to 10% each quarterly; American, United, Southwest and Delta held 10.5% to 11.3% each as of June 30, 2026. Its 0.60% annual fee tops the 0.36% average of similar funds, and its price swings sharply.
Price history
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JETS +6.9% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| JETS official prospectus, to Dec 31, 2025 | — | +11.58% | — | +4.97% | +1.78% | — |
| JETS price data to Oct 27, 2026 | -3.7% | +6.9% | +22.7% | +4.3% | +1.8% | +1.4% |
- Over the year to Oct 27, 2026, JETS returned +6.9%, 6th of 7 among similar funds.
- Its 5-year annualized return was +4.3% and its 10-year +1.8%.
- In the 2020 COVID crash it fell 60.6% and regained its old high 70.6 months after the low.
- Its worst full calendar year was 2020 (-28.9%); its best was 2024 (+33.2%).
- The deepest fall in its price history was 64.9% (Jan 12, 2018 to May 15, 2020), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -3.7% | — |
| 2025 | +11.6% | +11.58% |
| 2024 | +33.2% | +33.13% |
| 2023 | +11.4% | +11.51% |
| 2022 | -19.0% | -18.96% |
| 2021 | -5.2% | -5.05% |
| 2020 | -28.9% | -28.99% |
| 2019 | +14.4% | +14.10% |
| 2018 | -14.3% | -13.76% |
| 2017 | +18.6% | +18.40% |
| 2016 | +12.5% | +13.15% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 59.2% over that stretch · deepest drop along the way 60.6%, back to its old high 70.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 28.5% over that stretch · deepest drop along the way 35.9%, back to its old high 25.2 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.2300 | +64.3% |
| 2021 | $0.1400 | +1300.0% |
| 2020 | $0.0100 | -97.4% |
| 2019 | $0.3900 | +1850.0% |
| 2018 | $0.0200 | -96.1% |
| 2017 | $0.5100 | +218.8% |
| 2016 | $0.1600 |
What's inside
As of Jun 30, 2026, the fund held 48 securities; the ten largest made up 65.96% of assets. It also reported 4.81% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| American Airlines Group Inc | 11.31% | |
| United Airlines Holdings Inc | 11.07% | |
| Southwest Airlines Co | 10.65% | |
| Delta Air Lines Inc | 10.50% | |
| Allegiant Travel Co | 4.26% | |
| Frontier Group Holdings Inc | 4.05% | |
| Air Canada | 3.62% | |
| JetBlue Airways Corp | 3.58% | |
| Alaska Air Group Inc | 3.48% | |
| SkyWest Inc | 3.45% | |
| Sabre Corp | 2.15% | |
| TripAdvisor Inc | 1.99% | |
| Expedia Group Inc | 1.97% | |
| Booking Holdings Inc | 1.89% | |
| Bombardier Inc | 1.78% |
By country
United States 75.45%Canada 5.39%Spain 1.78%China 1.67%United Kingdom 1.49%By asset type
Stocks 99.57%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $41.2M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +3.22%, +15.35%, +13.41%.
How it works
JETS is an index fund, which means it copies a fixed set of rules instead of relying on a manager's stock picks. The U.S. Global Jets Index was built by U.S. Global Indices, LLC, which is wholly owned by the fund's adviser, U.S. Global Investors. Indxx, LLC, an unaffiliated firm, calculates the index. The index draws from U.S. and international passenger airlines, aircraft makers, airports, terminal services companies and airline-related websites, such as ticket-booking sites. To qualify, a company must trade on an exchange, be worth at least $100 million and trade often enough.
Weights come from fixed tiers, not company size. At each quarterly reset in March, June, September and December, the four largest U.S. passenger airlines get 10% each. The next eight largest U.S. or Canadian airlines get 3% each. The remaining companies are scored mainly on cash flow return on invested capital (how much cash a business generates for the money invested in it) and trading volume. The top eight U.S. or Canadian names get 2% each, the next 10 non-U.S. names get 1% each, and the next 20 non-U.S. names get 0.5% each.
The fund generally holds every index stock in about the same proportions, but it may hold a representative sample instead. At least 80% of its assets must be in index stocks. Passenger airlines are expected to make up more than 25% of the fund. Portfolio turnover was 38%.
What it really costs
- JETS charges 0.6% a year, versus an average of 0.36% for the similar funds below (6th of 7, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $61 in the first year and $750 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| JETS | $61 | $192 | $335 | $750 |
In a retirement portfolio
JETS is a concentrated bet on one volatile industry, so it fits best as a small position alongside broader holdings.
JETS offers targeted exposure to air travel, but it has behaved like a high-risk sector bet. It launched in 2015, so it has no record from the 2008 crisis. In the 2020 COVID crash it lost about 61% in one month and didn't regain its February 2020 high until February 6, 2026, roughly 71 months later. In the 2022 bear market it fell about 36% and took about 25 months to recover. Its worst calendar year was 2020, down about 29%. Its deepest drop, about 65% from January 2018 to May 2020, had still not been made up as of October 27, 2026. A retiree forced to sell in years like these would have locked in heavy losses.
Income is small: the yield was 0.85% as of October 27, 2026, paid once a year. The 0.60% expense ratio comes to $61 in the first year on $10,000 under the SEC's standard example. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting focused air-travel exposure: the 10 largest holdings, mostly U.S. airlines, made up about 66% of assets as of June 30, 2026.
- Investors wanting a small add-on beside a broad core portfolio who can stomach drops like the 53.46% quarterly loss in early 2020.
- Those who want airlines specifically: broader transportation funds such as XTN and IYT overlap with only 27% and 16% of its holdings.
Look elsewhere if
- Cost-focused investors: the 0.60% yearly fee (expense ratio) comes to $750 over 10 years on $10,000 in the SEC's standard example.
- Retirees seeking income: the yield over the past year was 0.85% as of October 27, 2026, with payouts once a year.
- Investors wanting steady growth: it returned 1.78% a year over 10 years through December 31, 2025, and once fell 64.9% from peak to low.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| JETS this fund | — | 0.6% | $959.1M | +6.9% | +22.7% |
| XTN SPDR S&P Transportation ETF | 27% | 0.35% | $367.3M | +19.2% | +15.5% |
| FTXR First Trust Nasdaq Transportation ETF | 18% | 0.6% | $1.09B | +19.6% | +21.8% |
| IYT iShares US Transportation ETF | 16% | 0.39% | $2.23B | +16.2% | +17.1% |
| XLI Industrial Select Sector SPDR Fund | 6% | 0.08% | $33.96B | +9.4% | +21.3% |
| EXI iShares Global Industrials ETF | 5% | 0.41% | $1.44B | +8.2% | +22.5% |
| XAR SPDR S&P Aerospace & Defense ETF | 5% | 0.35% | $6.47B | -10.5% | +26.6% |
Questions investors ask
Is JETS a good investment for retirement?
JETS is a narrow, high-risk airline fund, so it's usually treated as a small add-on rather than a core retirement holding. According to its prospectus, it returned 1.78% a year over the 10 years ending December 31, 2025, and 4.97% a year over five years. It lost about 61% in the 2020 COVID crash and took roughly 71 months to recover. That kind of drop can hurt anyone who needs to sell shares during a bad year.
Does JETS pay a dividend?
Yes, but not much, and only once a year. As of October 27, 2026, JETS paid $0.23 per share over the prior 12 months, a yield of 0.85%. Airlines often cut or suspend dividends when travel demand falls, so the payout from an airline-focused fund can be small and uneven. Investors looking for steady retirement income would get little from this fund.
What airlines are in the JETS ETF?
As of June 30, 2026, the largest holdings were American Airlines (11.3%), United Airlines (11.1%), Southwest Airlines (10.6%) and Delta Air Lines (10.5%). Next came Allegiant Travel, Frontier Group, Air Canada, JetBlue, Alaska Air and SkyWest, each between about 3.4% and 4.3%. The top 10 made up about 66% of the fund. It also holds travel sites such as Sabre, Expedia and Booking Holdings, plus aircraft maker Bombardier.
What's the difference between JETS and XTN?
JETS focuses on airlines, while the SPDR S&P Transportation ETF (XTN) covers transportation companies more broadly. XTN is cheaper, with a 0.35% expense ratio against 0.60% for JETS. As of October 27, 2026, XTN returned 19.2% over one year versus 6.9% for JETS. Over three years, JETS led with 22.7% a year versus 15.5% for XTN. JETS is also larger, with about $959 million in net assets versus about $367 million for XTN as of June 30, 2026.
What is the JETS expense ratio?
The JETS expense ratio is 0.60%, according to the prospectus filed April 24, 2026. The SEC's standard example assumes $10,000 invested with a 5% annual return. On that basis, costs would total about $61 after one year, $192 after three years, $335 after five years and $750 after 10 years. That's above the 0.36% average for similar funds, and it ranks sixth of seven on cost among its comparison group.