FLBL vs. JPIE

Last updated Jun 14, 2026

FLBL (Franklin Liberty Senior Loan ETF) and JPIE (JPMorgan Income ETF) are both exchange-traded funds - FLBL is a High Yield Bonds fund actively managed by Franklin Templeton, while JPIE is a Multisector Bonds fund actively managed by JPMorgan. Both are actively managed. Over the past 3 years, FLBL returned 6.81%/yr vs 6.63%/yr for JPIE. At a 0.28 correlation, their price movements are largely independent. FLBL charges 0.45%/yr vs 0.40%/yr for JPIE.

Performance

FLBL vs. JPIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Liberty Senior Loan ETF (FLBL) and JPMorgan Income ETF (JPIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLBL achieves a 0.47% return, which is significantly lower than JPIE's 1.65% return.

FLBL

• 1D: 0.00%
• 1M: -0.50%
• YTD: 0.47%
• 6M: 0.11%
• 1Y: 2.09%
• 3Y*: 6.81%
• 5Y*: 5.11%
• 10Y*: —

JPIE

• 1D: 0.02%
• 1M: 0.50%
• YTD: 1.65%
• 6M: 2.12%
• 1Y: 5.94%
• 3Y*: 6.63%
• 5Y*: —
• 10Y*: —

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

FLBL vs. JPIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FLBL Franklin Liberty Senior Loan ETF	0.47%	3.59%	8.26%	14.83%	-2.69%	0.55%
JPIE JPMorgan Income ETF	1.65%	7.39%	6.32%	7.07%	-6.13%	0.27%

Correlation

The correlation between FLBL and JPIE is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (All Time) Calculated using the full available price history since Nov 2, 2021	0.28

The correlation between FLBL and JPIE shifts across timeframes, from 0.17 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FLBL vs. JPIE — Risk / Return Rank

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

FLBL

FLBL Risk / Return Rank: 22
FLBL Sharpe Ratio Rank: 24
FLBL Sortino Ratio Rank: 22
FLBL Omega Ratio Rank: 24
FLBL Calmar Ratio Rank: 18
FLBL Martin Ratio Rank: 20

JPIE

JPIE Risk / Return Rank: 95
JPIE Sharpe Ratio Rank: 96
JPIE Sortino Ratio Rank: 97
JPIE Omega Ratio Rank: 97
JPIE Calmar Ratio Rank: 91
JPIE Martin Ratio Rank: 95

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.

FLBL vs. JPIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty Senior Loan ETF (FLBL) and JPMorgan Income ETF (JPIE). 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.

	FLBL	JPIE	Difference
Sharpe ratio: Return per unit of total volatility	0.76	3.68	-2.92
Sortino ratio: Return per unit of downside risk	1.08	5.83	-4.75
Omega ratio: Gain probability vs. loss probability	1.15	1.84	-0.69
Calmar ratio: Return relative to maximum drawdown	0.63	5.12	-4.50
Martin ratio: Return relative to average drawdown	2.11	25.30	-23.19

FLBL vs. JPIE - Sharpe Ratio Comparison

The current FLBL Sharpe Ratio is 0.76, which is lower than the JPIE Sharpe Ratio of 3.68. The chart below compares the historical Sharpe Ratios of FLBL and JPIE, 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

FLBL vs. JPIE - Drawdown Comparison

The maximum FLBL drawdown since its inception was -19.52%, which is greater than JPIE's maximum drawdown of -9.96%. Use the drawdown chart below to compare losses from any high point for FLBL and JPIE.

Drawdown Indicators

	FLBL	JPIE	Difference
Max Drawdown Largest peak-to-trough decline	-19.52%	-9.96%	-9.56%
Max Drawdown (1Y) Largest decline over 1 year	-3.18%	-1.15%	-2.03%
Max Drawdown (3Y) Largest decline over 3 years	-3.91%	-2.40%	-1.51%
Max Drawdown (5Y) Largest decline over 5 years	-6.80%	—	—
Current Drawdown Current decline from peak	-0.53%	0.00%	-0.53%
Average Drawdown Average peak-to-trough decline	-1.00%	-2.08%	+1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	0.23%	+0.71%

Volatility

FLBL vs. JPIE - Volatility Comparison

Franklin Liberty Senior Loan ETF (FLBL) has a higher volatility of 0.67% compared to JPMorgan Income ETF (JPIE) at 0.63%. This indicates that FLBL's price experiences larger fluctuations and is considered to be riskier than JPIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLBL	JPIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.67%	0.63%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	2.25%	1.30%	+0.95%
Volatility (1Y) Calculated over the trailing 1-year period	2.62%	1.60%	+1.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.86%	3.52%	+0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.71%	3.52%	+2.19%

FLBL vs. JPIE - Expense Ratio Comparison

FLBL has a 0.45% expense ratio, which is higher than JPIE's 0.40% expense ratio.

Dividends

FLBL vs. JPIE - Dividend Comparison

FLBL's dividend yield for the trailing twelve months is around 7.61%, more than JPIE's 5.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FLBL Franklin Liberty Senior Loan ETF	7.61%	7.24%	8.05%	8.37%	5.53%	3.57%	3.22%	3.97%	2.21%
JPIE JPMorgan Income ETF	5.61%	5.65%	6.11%	5.70%	4.49%	0.63%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLBL and JPIE in my portfolio?

FLBL and JPIE have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLBL or JPIE?

FLBL has higher volatility (0.67%) compared to JPIE (0.63%). In terms of maximum drawdown, FLBL dropped -19.52% vs JPIE's -9.96%.

Which ETF is better, FLBL or JPIE?

On 3-year performance, FLBL leads with 6.81% vs 6.63% for JPIE. On fees, JPIE is cheaper at 0.40% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLBL or JPIE?

Over the 3-year period, FLBL has performed better with a 6.81% return vs 6.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLBL or JPIE?

JPIE is cheaper with a 0.40% expense ratio, compared with 0.45% for FLBL.

Which ETF pays a higher dividend yield, FLBL or JPIE?

FLBL has the higher dividend yield at 7.61%, compared with 5.61% for JPIE.

What is the main difference between FLBL and JPIE?

FLBL is categorized as High Yield Bonds, while JPIE is Multisector Bonds. They also come from different issuers: Franklin Templeton and JPMorgan. Their fees differ too: 0.45% for FLBL and 0.40% for JPIE.

Which has better risk-adjusted returns?

JPIE currently has the higher Sharpe Ratio (3.68 vs 0.76), 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.