BUBSX vs. JPST

Last updated Jun 24, 2026

BUBSX (Baird Ultra Short Bond Fund) and JPST (JPMorgan Ultra-Short Income ETF) are both Ultrashort Bond funds. Over the past 5 years, BUBSX returned 3.51%/yr vs 3.65%/yr for JPST. At a 0.22 correlation, their price movements are largely independent. BUBSX charges 0.40%/yr vs 0.18%/yr for JPST.

Performance

BUBSX vs. JPST - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with BUBSX having a 1.61% return and JPST slightly lower at 1.56%.

BUBSX

• 1D: 0.00%
• 1M: 0.33%
• YTD: 1.61%
• 6M: 1.65%
• 1Y: 4.01%
• 3Y*: 4.92%
• 5Y*: 3.51%
• 10Y*: 2.52%

JPST

• 1D: 0.08%
• 1M: 0.31%
• YTD: 1.56%
• 6M: 1.70%
• 1Y: 4.17%
• 3Y*: 5.16%
• 5Y*: 3.65%
• 10Y*: —

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

BUBSX vs. JPST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BUBSX Baird Ultra Short Bond Fund	1.61%	4.53%	5.47%	5.43%	0.70%	-0.05%	1.66%	2.87%	1.61%	0.68%
JPST JPMorgan Ultra-Short Income ETF	1.56%	4.99%	5.58%	5.13%	1.14%	0.11%	2.18%	3.34%	2.23%	0.98%

Correlation

The correlation between BUBSX and JPST is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (All Time) Calculated using the full available price history since May 19, 2017	0.22

Return for Risk

BUBSX vs. JPST — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BUBSX

BUBSX Risk / Return Rank: 100
BUBSX Sharpe Ratio Rank: 100
BUBSX Sortino Ratio Rank: 100
BUBSX Omega Ratio Rank: 100
BUBSX Calmar Ratio Rank: 100
BUBSX Martin Ratio Rank: 100

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) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BUBSX vs. JPST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baird Ultra Short Bond Fund (BUBSX) 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.

	BUBSX	JPST	Difference
Sharpe ratio: Return per unit of total volatility	6.21	7.67	-1.47
Sortino ratio: Return per unit of downside risk	17.60	16.22	+1.38
Omega ratio: Gain probability vs. loss probability	8.03	3.66	+4.37
Calmar ratio: Return relative to maximum drawdown	40.89	28.19	+12.70
Martin ratio: Return relative to average drawdown	249.94	134.29	+115.64

BUBSX vs. JPST - Sharpe Ratio Comparison

The current BUBSX Sharpe Ratio is 6.21, which is comparable to the JPST Sharpe Ratio of 7.67. The chart below compares the historical Sharpe Ratios of BUBSX 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

BUBSX vs. JPST - Drawdown Comparison

The maximum BUBSX drawdown since its inception was -1.88%, smaller than the maximum JPST drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for BUBSX and JPST.

Drawdown Indicators

	BUBSX	JPST	Difference
Max Drawdown Largest peak-to-trough decline	-1.88%	-3.28%	+1.40%
Max Drawdown (1Y) Largest decline over 1 year	-0.10%	-0.15%	+0.05%
Max Drawdown (3Y) Largest decline over 3 years	-0.29%	-0.30%	+0.01%
Max Drawdown (5Y) Largest decline over 5 years	-0.79%	-0.79%	0.00%
Max Drawdown (10Y) Largest decline over 10 years	-1.88%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.07%	-0.08%	+0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	0.03%	-0.01%

Volatility

BUBSX vs. JPST - Volatility Comparison

Baird Ultra Short Bond Fund (BUBSX) has a higher volatility of 0.26% compared to JPMorgan Ultra-Short Income ETF (JPST) at 0.19%. This indicates that BUBSX'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

	BUBSX	JPST	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.26%	0.19%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	0.47%	0.38%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	0.65%	0.55%	+0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.76%	0.58%	+0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.71%	0.93%	-0.22%

BUBSX vs. JPST - Expense Ratio Comparison

BUBSX has a 0.40% expense ratio, which is higher than JPST's 0.18% expense ratio.

Dividends

BUBSX vs. JPST - Dividend Comparison

BUBSX's dividend yield for the trailing twelve months is around 4.03%, less than JPST's 4.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BUBSX Baird Ultra Short Bond Fund	4.03%	4.24%	5.04%	4.39%	1.29%	0.25%	1.14%	2.33%	1.90%	1.04%	0.81%	0.56%
JPST JPMorgan Ultra-Short Income ETF	4.25%	4.43%	5.16%	4.79%	1.83%	0.73%	1.43%	2.69%	2.07%	0.96%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BUBSX and JPST in my portfolio?

BUBSX and JPST have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUBSX or JPST?

BUBSX has higher volatility (0.26%) compared to JPST (0.19%). In terms of maximum drawdown, BUBSX dropped -1.88% vs JPST's -3.28%.

Which has better risk-adjusted returns?

JPST currently has the higher Sharpe Ratio (7.67 vs 6.21), 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.