BBM3.L vs. JGST.L
BBM3.L (JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc)) and JGST.L (JPM GBP Ultra-Short Income Active UCITS ETF - GBP (dist)) are both exchange-traded funds - BBM3.L is a Government Bonds fund tracking the ICE 0-3 Month US Treasury Notes & Bills Index, while JGST.L is a Ultrashort Bond fund actively managed by JPMorgan. BBM3.L is passively managed, while JGST.L is actively managed. Over the past 5 years, BBM3.L returned 4.56%/yr vs 3.35%/yr for JGST.L. At a correlation of -0.06, they often move in opposite directions. BBM3.L charges 0.07%/yr vs 0.18%/yr for JGST.L.
Performance
BBM3.L vs. JGST.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 JGST.L's 1.36% 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*
- —
JGST.L
- 1D
- -0.07%
- 1M
- 0.50%
- YTD
- 1.36%
- 6M
- 1.67%
- 1Y
- 4.22%
- 3Y*
- 4.99%
- 5Y*
- 3.35%
- 10Y*
- —
BBM3.L vs. JGST.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% |
JGST.L JPM GBP Ultra-Short Income Active UCITS ETF - GBP (dist) | 1.36% | 4.98% | 5.09% | 5.01% | 0.58% | 0.00% |
Correlation
The correlation between BBM3.L and JGST.L is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021 | -0.06 |
The correlation between BBM3.L and JGST.L shifts across timeframes, from -0.16 (1 year) to -0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BBM3.L vs. JGST.L — Risk / Return Rank
BBM3.L
JGST.L
BBM3.L vs. JGST.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 UCITS ETF - GBP (dist) (JGST.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 | JGST.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.79 | ||
| Sortino ratioReturn per unit of downside risk | -10.57 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 3.00 | -1.87 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 10.07 | -8.99 |
| Martin ratioReturn relative to average drawdown | 2.71 | 60.92 | -58.21 |
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 | JGST.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | 6.55 | -5.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 5.77 | -5.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 4.32 | -3.82 |
Drawdowns
BBM3.L vs. JGST.L - Drawdown Comparison
The maximum BBM3.L drawdown since its inception was -15.27%, which is greater than JGST.L's maximum drawdown of -1.18%. Use the drawdown chart below to compare losses from any high point for BBM3.L and JGST.L.
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Drawdown Indicators
| BBM3.L | JGST.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.27% | -1.18% | -14.09% |
Max Drawdown (1Y)Largest decline over 1 year | -4.52% | -0.43% | -4.09% |
Max Drawdown (3Y)Largest decline over 3 years | -9.77% | -0.43% | -9.34% |
Max Drawdown (5Y)Largest decline over 5 years | -15.27% | -0.76% | -14.51% |
Current DrawdownCurrent decline from peak | -5.65% | -0.07% | -5.58% |
Average DrawdownAverage peak-to-trough decline | -6.31% | -0.10% | -6.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 0.07% | +1.74% |
Volatility
BBM3.L vs. JGST.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 UCITS ETF - GBP (dist) (JGST.L) at 0.25%. This indicates that BBM3.L's price experiences larger fluctuations and is considered to be riskier than JGST.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 | JGST.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.89% | 0.25% | +1.64% |
Volatility (6M)Calculated over the trailing 6-month period | 4.68% | 0.59% | +4.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.47% | 0.65% | +5.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.43% | 0.58% | +7.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.38% | 0.57% | +7.81% |
BBM3.L vs. JGST.L - Expense Ratio Comparison
BBM3.L has a 0.07% expense ratio, which is lower than JGST.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. JGST.L - Dividend Comparison
BBM3.L has not paid dividends to shareholders, while JGST.L's dividend yield for the trailing twelve months is around 4.29%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BBM3.L JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JGST.L JPM GBP Ultra-Short Income Active UCITS ETF - GBP (dist) | 4.29% | 4.37% | 5.01% | 3.88% | 1.01% | 0.51% | 0.73% | 0.72% | 0.21% |
Frequently Asked Questions
BBM3.L and JGST.L have a correlation of -0.16, 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 JGST.L.
BBM3.L is categorized as Government Bonds, while JGST.L is Ultrashort Bond. Their fees differ too: 0.07% for BBM3.L and 0.18% for JGST.L.
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