BILL vs. JPST

Last updated Aug 4, 2026

BILL (Bill.com Holdings, Inc.) is a stock, while JPST (JPMorgan Ultra-Short Income ETF) is Ultrashort Bond fund actively managed by JPMorgan. Over the past 5 years, BILL returned -25.51%/yr vs 3.72%/yr for JPST. Their 0.07 correlation means their historical movements had little consistent relationship.

Performance

BILL vs. JPST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bill.com Holdings, Inc. (BILL) and JPMorgan Ultra-Short Income ETF (JPST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BILL achieves a -13.42% return, which is significantly lower than JPST's 2.01% return.

BILL

• 1D: 4.63%
• 1M: 16.65%
• 6M: 13.43%
• YTD: -13.42%
• 1Y: 13.16%
• 3Y*: -25.74%
• 5Y*: -25.51%
• 10Y*: —
• ALL TIME*: 3.64%

JPST

• 1D: 0.06%
• 1M: 0.30%
• 6M: 1.62%
• YTD: 2.01%
• 1Y: 3.96%
• 3Y*: 5.07%
• 5Y*: 3.72%
• 10Y*: —
• ALL TIME*: 2.99%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BILL Bill.com Holdings, Inc.	$104.99M	$102.12M	$107.52M
JPST JPMorgan Ultra-Short Income ETF	$283.32M	$279.21M	$317.05M

BILL vs. JPST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BILL Bill.com Holdings, Inc.	-13.42%	-35.62%	3.82%	-25.12%	-56.27%	82.53%	258.74%	2.15%
JPST JPMorgan Ultra-Short Income ETF	2.01%	4.99%	5.58%	5.13%	1.14%	0.11%	2.18%	0.17%

Correlation

The correlation between BILL and JPST is 0.14, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.14
Correlation (3Y) Balances recent behavior with more history.	0.08
Correlation (5Y) Shows whether the relationship held over a longer period.	0.09
Correlation (All Time) Calculated using the full available price history since Dec 12, 2019	0.07

Return for Risk

BILL vs. JPST — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BILL

BILL Risk / Return Rank: 53
BILL Sharpe Ratio Rank: 53
BILL Sortino Ratio Rank: 56
BILL Omega Ratio Rank: 53
BILL Calmar Ratio Rank: 52
BILL Martin Ratio Rank: 52

JPST

JPST Risk / Return Rank: 99
JPST Sharpe Ratio Rank: 99
JPST Sortino Ratio Rank: 99
JPST Omega Ratio Rank: 99
JPST Calmar Ratio Rank: 99
JPST Martin Ratio Rank: 99

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BILL vs. JPST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bill.com Holdings, Inc. (BILL) and JPMorgan Ultra-Short Income ETF (JPST). 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.

	BILL	JPST	Difference
Sharpe ratio: Return per unit of total volatility	0.20	7.71	-7.50
Sortino ratio: Return per unit of downside risk	0.90	15.55	-14.65
Omega ratio: Gain probability vs. loss probability	1.11	3.51	-2.40
Calmar ratio: Return relative to maximum drawdown	0.31	26.75	-26.44
Martin ratio: Return relative to average drawdown	0.60	126.55	-125.96

BILL vs. JPST - Sharpe Ratio Comparison

The current BILL Sharpe Ratio is 0.20, which is lower than the JPST Sharpe Ratio of 7.71. The chart below compares the historical Sharpe Ratios of BILL and JPST, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BILL vs. JPST - Drawdown Comparison

The maximum BILL drawdown since its inception was -90.66%, which is greater than JPST's maximum drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for BILL and JPST.

Drawdown Indicators

	BILL	JPST	Difference
Max Drawdown Largest peak-to-trough decline	-90.66%	-3.28%	-87.38%
Max Drawdown (1Y) Largest decline over 1 year	-43.24%	-0.15%	-43.09%
Max Drawdown (3Y) Largest decline over 3 years	-72.96%	-0.30%	-72.66%
Max Drawdown (5Y) Largest decline over 5 years	-90.66%	-0.79%	-89.87%
Current Drawdown Current decline from peak	-86.20%	0.00%	-86.20%
Average Drawdown Average peak-to-trough decline	-55.38%	-0.08%	-55.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.15%	0.03%	+22.12%

Volatility

BILL vs. JPST - Volatility Comparison

Bill.com Holdings, Inc. (BILL) has a higher volatility of 15.53% compared to JPMorgan Ultra-Short Income ETF (JPST) at 0.14%. This indicates that BILL's price experiences larger fluctuations and is considered to be riskier than JPST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BILL	JPST	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.53%	0.14%	+15.39%
Volatility (6M) Calculated over the trailing 6-month period	50.82%	0.39%	+50.43%
Volatility (1Y) Calculated over the trailing 1-year period	65.08%	0.52%	+64.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.84%	0.58%	+70.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.64%	0.93%	+71.71%

Dividends

BILL vs. JPST - Dividend Comparison

BILL has not paid dividends to shareholders, while JPST's dividend yield for the trailing twelve months is around 4.20%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BILL Bill.com Holdings, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JPST JPMorgan Ultra-Short Income ETF	4.20%	4.43%	5.16%	4.79%	1.83%	0.73%	1.43%	2.69%	2.07%	0.96%

Frequently Asked Questions

Can I hold both BILL and JPST in my portfolio?

BILL and JPST have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BILL or JPST?

BILL has higher volatility (15.53%) compared to JPST (0.14%). In terms of maximum drawdown, BILL dropped -90.66% vs JPST's -3.28%.

Which has better risk-adjusted returns?

JPST currently has the higher Sharpe Ratio (7.71 vs 0.20), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.