The U.S. Global Jets ETF (JETS) launched successfully almost a year ago, quickly pulling in over $50 million in assets. Still, the fund of airline stocks is only up just over 2% since inception, even as cheap oil is leading to record profits in the industry. 'These stocks are so undervalued, they trade at one third the value of trucks in the Transportation Index and they are trading at half the multiple of the S&P 500,' Said Frank Holmes, CEO of U.S. Global Investors (GROW), the company behind the JETS ETF. Holmes added that the major airlines are buying back billions of dollars of stock because they see their shares as cheap. As to why airline stocks are not seeing respect in the marketplace during such a profitable time, Holmes said the industry cannot escape the 'Warren Buffett stigma.'