BBLL.L vs. JPSA.L
BBLL.L (JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc)) and JPSA.L (JPMorgan USD Ultra-Short Income Active UCITS ETF USD Acc) are both exchange-traded funds - BBLL.L is a Government Bonds fund tracking the ICE US Treasury 0-1 Year Index, while JPSA.L is a Ultrashort Bond fund actively managed by JPMorgan. BBLL.L is passively managed, while JPSA.L is actively managed. Over the past 5 years, BBLL.L returned 4.53%/yr vs 4.71%/yr for JPSA.L. Their correlation of 0.82 suggests significant overlap in exposure. BBLL.L charges 0.07%/yr vs 0.18%/yr for JPSA.L.
Performance
BBLL.L vs. JPSA.L - Performance Comparison
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Different Trading Currencies
BBLL.L is traded in GBP, while JPSA.L is traded in USD. To make them comparable, the JPSA.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with BBLL.L at 3.85% and JPSA.L at 3.85%.
BBLL.L
- 1D
- 0.23%
- 1M
- 2.30%
- YTD
- 3.85%
- 6M
- 4.36%
- 1Y
- 7.49%
- 3Y*
- 3.41%
- 5Y*
- 4.53%
- 10Y*
- —
JPSA.L
- 1D
- 0.19%
- 1M
- 2.30%
- YTD
- 3.85%
- 6M
- 4.28%
- 1Y
- 7.61%
- 3Y*
- 3.89%
- 5Y*
- 4.71%
- 10Y*
- —
BBLL.L vs. JPSA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BBLL.L JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc) | 3.85% | -2.85% | 6.94% | -0.86% | 13.16% | 1.26% | -2.69% | -3.36% |
JPSA.L JPMorgan USD Ultra-Short Income Active UCITS ETF USD Acc | 3.85% | -2.41% | 7.39% | -0.19% | 13.06% | 1.02% | -0.68% | -4.44% |
Correlation
The correlation between BBLL.L and JPSA.L is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2019 | 0.82 |
The correlation between BBLL.L and JPSA.L has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.
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Return for Risk
BBLL.L vs. JPSA.L — Risk / Return Rank
BBLL.L
JPSA.L
BBLL.L vs. JPSA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc) (BBLL.L) and JPMorgan USD Ultra-Short Income Active UCITS ETF USD Acc (JPSA.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BBLL.L | JPSA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.21 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.64 | 1.51 | +0.13 |
| Martin ratioReturn relative to average drawdown | 4.25 | 4.27 | -0.02 |
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Drawdowns
BBLL.L vs. JPSA.L - Drawdown Comparison
The maximum BBLL.L drawdown since its inception was -19.18%, which is greater than JPSA.L's maximum drawdown of -16.28%. Use the drawdown chart below to compare losses from any high point for BBLL.L and JPSA.L.
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Drawdown Indicators
| BBLL.L | JPSA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.18% | -16.28% | -2.90% |
Max Drawdown (1Y)Largest decline over 1 year | -4.54% | -5.02% | +0.48% |
Max Drawdown (3Y)Largest decline over 3 years | -9.73% | -9.48% | -0.25% |
Max Drawdown (5Y)Largest decline over 5 years | -15.36% | -15.97% | +0.61% |
Current DrawdownCurrent decline from peak | -3.68% | -3.01% | -0.67% |
Average DrawdownAverage peak-to-trough decline | -9.51% | -8.21% | -1.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.76% | 1.78% | -0.02% |
Volatility
BBLL.L vs. JPSA.L - Volatility Comparison
JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc) (BBLL.L) has a higher volatility of 1.69% compared to JPMorgan USD Ultra-Short Income Active UCITS ETF USD Acc (JPSA.L) at 1.57%. This indicates that BBLL.L's price experiences larger fluctuations and is considered to be riskier than JPSA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBLL.L | JPSA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.69% | 1.57% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 4.74% | 5.01% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.51% | 6.54% | -0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.37% | 8.44% | -0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.83% | 8.65% | +0.18% |
BBLL.L vs. JPSA.L - Expense Ratio Comparison
BBLL.L has a 0.07% expense ratio, which is lower than JPSA.L's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BBLL.L vs. JPSA.L - Dividend Comparison
Neither BBLL.L nor JPSA.L has paid dividends to shareholders.
Frequently Asked Questions
BBLL.L and JPSA.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BBLL.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BBLL.L is cheaper with a 0.07% expense ratio, compared with 0.18% for JPSA.L.
BBLL.L is categorized as Government Bonds, while JPSA.L is Ultrashort Bond. Their fees differ too: 0.07% for BBLL.L and 0.18% for JPSA.L.
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