BBM3.L vs. JGSA.L
BBM3.L (JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc)) and JGSA.L (JPM GBP Ultra-Short Income Active ETF GBP Acc) are both exchange-traded funds - BBM3.L is a Government Bonds fund tracking the ICE 0-3 Month US Treasury Notes & Bills Index, while JGSA.L is a Ultrashort Bond fund actively managed by JPMorgan. BBM3.L is passively managed, while JGSA.L is actively managed. Over the past 5 years, BBM3.L returned 4.56%/yr vs 3.39%/yr for JGSA.L. At a correlation of -0.06, they often move in opposite directions. BBM3.L charges 0.07%/yr vs 0.18%/yr for JGSA.L.
Performance
BBM3.L vs. JGSA.L - Performance Comparison
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Returns By Period
In the year-to-date period, BBM3.L achieves a 1.63% return, which is significantly higher than JGSA.L's 1.38% return.
BBM3.L
- 1D
- 0.09%
- 1M
- 1.32%
- YTD
- 1.63%
- 6M
- 1.18%
- 1Y
- 4.93%
- 3Y*
- 1.97%
- 5Y*
- 4.56%
- 10Y*
- —
JGSA.L
- 1D
- 0.06%
- 1M
- 0.60%
- YTD
- 1.38%
- 6M
- 1.75%
- 1Y
- 4.29%
- 3Y*
- 5.02%
- 5Y*
- 3.39%
- 10Y*
- —
BBM3.L vs. JGSA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BBM3.L JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) | 1.63% | -2.96% | 7.04% | -0.79% | 13.68% | 4.38% |
JGSA.L JPM GBP Ultra-Short Income Active ETF GBP Acc | 1.38% | 5.06% | 5.09% | 5.01% | 0.58% | 0.02% |
Correlation
The correlation between BBM3.L and JGSA.L is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021 | -0.06 |
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Return for Risk
BBM3.L vs. JGSA.L — Risk / Return Rank
BBM3.L
JGSA.L
BBM3.L vs. JGSA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.L) and JPM GBP Ultra-Short Income Active ETF GBP Acc (JGSA.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.
| BBM3.L | JGSA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.38 | ||
| Sortino ratioReturn per unit of downside risk | -12.25 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 3.34 | -2.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 10.27 | -9.19 |
| Martin ratioReturn relative to average drawdown | 2.71 | 53.58 | -50.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BBM3.L | JGSA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | 7.14 | -6.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 6.12 | -5.58 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 4.29 | -3.79 |
Drawdowns
BBM3.L vs. JGSA.L - Drawdown Comparison
The maximum BBM3.L drawdown since its inception was -15.27%, which is greater than JGSA.L's maximum drawdown of -1.42%. Use the drawdown chart below to compare losses from any high point for BBM3.L and JGSA.L.
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Drawdown Indicators
| BBM3.L | JGSA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.27% | -1.42% | -13.85% |
Max Drawdown (1Y)Largest decline over 1 year | -4.52% | -0.42% | -4.10% |
Max Drawdown (3Y)Largest decline over 3 years | -9.77% | -0.42% | -9.35% |
Max Drawdown (5Y)Largest decline over 5 years | -15.27% | -0.73% | -14.54% |
Current DrawdownCurrent decline from peak | -5.65% | -0.01% | -5.64% |
Average DrawdownAverage peak-to-trough decline | -6.31% | -0.10% | -6.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 0.08% | +1.73% |
Volatility
BBM3.L vs. JGSA.L - Volatility Comparison
JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.L) has a higher volatility of 1.89% compared to JPM GBP Ultra-Short Income Active ETF GBP Acc (JGSA.L) at 0.24%. This indicates that BBM3.L's price experiences larger fluctuations and is considered to be riskier than JGSA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBM3.L | JGSA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.89% | 0.24% | +1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 4.68% | 0.53% | +4.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.47% | 0.60% | +5.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.43% | 0.55% | +7.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.38% | 0.62% | +7.76% |
BBM3.L vs. JGSA.L - Expense Ratio Comparison
BBM3.L has a 0.07% expense ratio, which is lower than JGSA.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
BBM3.L vs. JGSA.L - Dividend Comparison
Neither BBM3.L nor JGSA.L has paid dividends to shareholders.
Frequently Asked Questions
BBM3.L and JGSA.L have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BBM3.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BBM3.L is cheaper with a 0.07% expense ratio, compared with 0.18% for JGSA.L.
BBM3.L is categorized as Government Bonds, while JGSA.L is Ultrashort Bond. Their fees differ too: 0.07% for BBM3.L and 0.18% for JGSA.L.
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