BRTR vs. JPST

Last updated Aug 3, 2026

BRTR (iShares Total Return Active ETF) and JPST (JPMorgan Ultra-Short Income ETF) are both exchange-traded funds - BRTR is a Intermediate Core-Plus Bond fund actively managed by iShares, while JPST is a Ultrashort Bond fund actively managed by JPMorgan. Both are actively managed. Over the past year, BRTR returned 2.71% vs 3.90% for JPST. Their 0.56 correlation means they have sometimes moved together and sometimes differently. BRTR charges 0.38%/yr vs 0.18%/yr for JPST.

Performance

BRTR vs. JPST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Total Return Active ETF (BRTR) 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, BRTR achieves a -0.45% return, which is significantly lower than JPST's 1.95% return.

BRTR

• 1D: -0.25%
• 1M: -1.25%
• 6M: -0.97%
• YTD: -0.45%
• 1Y: 2.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.60%

JPST

• 1D: 0.00%
• 1M: 0.24%
• 6M: 1.57%
• YTD: 1.95%
• 1Y: 3.90%
• 3Y*: 5.09%
• 5Y*: 3.71%
• 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)
BRTR iShares Total Return Active ETF	$4.31M	$3.65M	$5.24M
JPST JPMorgan Ultra-Short Income ETF	$275.20M	$274.89M	$316.70M

BRTR vs. JPST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BRTR iShares Total Return Active ETF	-0.45%	8.11%	1.29%	0.68%
JPST JPMorgan Ultra-Short Income ETF	1.95%	4.99%	5.58%	0.35%

Correlation

The correlation between BRTR and JPST is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.57
Correlation (All Time) Calculated using the full available price history since Dec 14, 2023	0.56

The correlation between BRTR and JPST has been stable across timeframes, ranging from 0.56 to 0.57 - a consistent structural relationship.

Return for Risk

BRTR vs. JPST — Risk / Return Rank

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

BRTR

BRTR Risk / Return Rank: 32
BRTR Sharpe Ratio Rank: 36
BRTR Sortino Ratio Rank: 34
BRTR Omega Ratio Rank: 32
BRTR Calmar Ratio Rank: 30
BRTR Martin Ratio Rank: 29

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.

BRTR vs. JPST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Total Return Active ETF (BRTR) 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.

	BRTR	JPST	Difference
Sharpe ratio: Return per unit of total volatility	0.88	7.56	-6.69
Sortino ratio: Return per unit of downside risk	1.26	16.09	-14.83
Omega ratio: Gain probability vs. loss probability	1.15	3.60	-2.45
Calmar ratio: Return relative to maximum drawdown	0.99	27.70	-26.71
Martin ratio: Return relative to average drawdown	2.54	131.07	-128.53

BRTR vs. JPST - Sharpe Ratio Comparison

The current BRTR Sharpe Ratio is 0.88, which is lower than the JPST Sharpe Ratio of 7.56. The chart below compares the historical Sharpe Ratios of BRTR 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

BRTR vs. JPST - Drawdown Comparison

The maximum BRTR drawdown since its inception was -5.07%, which is greater than JPST's maximum drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for BRTR and JPST.

Drawdown Indicators

	BRTR	JPST	Difference
Max Drawdown Largest peak-to-trough decline	-5.07%	-3.28%	-1.79%
Max Drawdown (1Y) Largest decline over 1 year	-3.26%	-0.15%	-3.11%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.30%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.79%	—
Current Drawdown Current decline from peak	-2.51%	0.00%	-2.51%
Average Drawdown Average peak-to-trough decline	-1.37%	-0.08%	-1.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.27%	0.03%	+1.24%

Volatility

BRTR vs. JPST - Volatility Comparison

iShares Total Return Active ETF (BRTR) has a higher volatility of 0.98% compared to JPMorgan Ultra-Short Income ETF (JPST) at 0.13%. This indicates that BRTR'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

	BRTR	JPST	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.98%	0.13%	+0.85%
Volatility (6M) Calculated over the trailing 6-month period	2.96%	0.39%	+2.57%
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	0.55%	+3.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.63%	0.58%	+4.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.63%	0.93%	+3.70%

BRTR vs. JPST - Expense Ratio Comparison

BRTR has a 0.38% expense ratio, which is higher than JPST's 0.18% expense ratio.

Dividends

BRTR vs. JPST - Dividend Comparison

BRTR's dividend yield for the trailing twelve months is around 4.76%, more than JPST's 4.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BRTR iShares Total Return Active ETF	4.35%	4.86%	5.58%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JPST JPMorgan Ultra-Short Income ETF	3.85%	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 BRTR and JPST in my portfolio?

BRTR and JPST have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BRTR or JPST?

BRTR has higher volatility (0.98%) compared to JPST (0.13%). In terms of maximum drawdown, BRTR dropped -5.07% vs JPST's -3.28%.

Which ETF is better, BRTR or JPST?

On 1-year performance, JPST leads with 3.90% vs 2.71% for BRTR. On fees, JPST is cheaper at 0.18% per year. On volatility, JPST has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BRTR or JPST?

Over the 1-year period, JPST has performed better with a 3.90% return vs 2.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BRTR or JPST?

JPST is cheaper with a 0.18% expense ratio, compared with 0.38% for BRTR.

Which ETF pays a higher dividend yield, BRTR or JPST?

BRTR has the higher dividend yield at 4.35%, compared with 3.85% for JPST.

What is the main difference between BRTR and JPST?

BRTR is categorized as Intermediate Core-Plus Bond, while JPST is Ultrashort Bond. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.38% for BRTR and 0.18% for JPST.

Which has better risk-adjusted returns?

JPST currently has the higher Sharpe Ratio (7.56 vs 0.88), 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.