FTSM vs. JPST
FTSM (First Trust Enhanced Short Maturity ETF) and JPST (JPMorgan Ultra-Short Income ETF) are both Ultrashort Bond funds. Both are actively managed. Over the past 5 years, FTSM returned 3.58%/yr vs 3.71%/yr for JPST. Their 0.40 correlation means their historical movements had little consistent relationship. FTSM charges 0.44%/yr vs 0.18%/yr for JPST.
Performance
FTSM vs. JPST - Performance Comparison
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Returns By Period
In the year-to-date period, FTSM achieves a 2.06% return, which is significantly higher than JPST's 1.95% return.
FTSM
- 1D
- 0.04%
- 1M
- 0.27%
- 6M
- 1.71%
- YTD
- 2.06%
- 1Y
- 3.88%
- 3Y*
- 4.81%
- 5Y*
- 3.58%
- 10Y*
- 2.59%
- ALL TIME*
- 2.24%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $36.56M | $37.97M | $43.15M | |
| $275.20M | $274.89M | $316.70M |
FTSM vs. JPST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTSM First Trust Enhanced Short Maturity ETF | 2.06% | 4.66% | 5.22% | 5.12% | 1.02% | -0.01% | 1.12% | 2.82% | 1.94% | 1.03% |
JPST JPMorgan Ultra-Short Income ETF | 1.95% | 4.99% | 5.58% | 5.13% | 1.14% | 0.11% | 2.18% | 3.34% | 2.23% | 0.98% |
Correlation
The correlation between FTSM and JPST is 0.53, 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. | 0.53 |
Correlation (3Y) Balances recent behavior with more history. | 0.59 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.54 |
Correlation (All Time) Calculated using the full available price history since May 19, 2017 | 0.40 |
The correlation between FTSM and JPST shifts across timeframes, from 0.40 (all time) to 0.59 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FTSM vs. JPST — Risk / Return Rank
FTSM
JPST
FTSM vs. JPST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Enhanced Short Maturity ETF (FTSM) 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.
| FTSM | JPST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +2.41 | ||
| Omega ratioGain probability vs. loss probability | 3.99 | 3.60 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 34.93 | 27.70 | +7.23 |
| Martin ratioReturn relative to average drawdown | 167.30 | 131.07 | +36.23 |
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Drawdowns
FTSM vs. JPST - Drawdown Comparison
The maximum FTSM drawdown since its inception was -4.12%, which is greater than JPST's maximum drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for FTSM and JPST.
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Drawdown Indicators
| FTSM | JPST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.12% | -3.28% | -0.84% |
Max Drawdown (1Y)Largest decline over 1 year | -0.12% | -0.15% | +0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -0.15% | -0.30% | +0.15% |
Max Drawdown (5Y)Largest decline over 5 years | -0.65% | -0.79% | +0.14% |
Max Drawdown (10Y)Largest decline over 10 years | -4.12% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.21% | -0.08% | -0.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.03% | -0.01% |
Volatility
FTSM vs. JPST - Volatility Comparison
First Trust Enhanced Short Maturity ETF (FTSM) has a higher volatility of 0.14% compared to JPMorgan Ultra-Short Income ETF (JPST) at 0.13%. This indicates that FTSM'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.
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Volatility by Period
| FTSM | JPST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.14% | 0.13% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 0.38% | 0.39% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.49% | 0.55% | -0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.50% | 0.58% | -0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.88% | 0.93% | -0.05% |
FTSM vs. JPST - Expense Ratio Comparison
FTSM has a 0.44% expense ratio, which is higher than JPST's 0.18% expense ratio.
Dividends
FTSM vs. JPST - Dividend Comparison
FTSM's dividend yield for the trailing twelve months is around 4.12%, less than JPST's 4.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTSM First Trust Enhanced Short Maturity ETF | 4.12% | 4.28% | 4.91% | 4.62% | 1.62% | 0.39% | 1.20% | 2.38% | 2.14% | 1.49% | 1.03% | 0.48% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
FTSM and JPST have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FTSM has higher volatility (0.14%) compared to JPST (0.13%). In terms of maximum drawdown, FTSM dropped -4.12% vs JPST's -3.28%.
On 5-year performance, JPST leads with 3.71% vs 3.58% for FTSM. On fees, JPST is cheaper at 0.18% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JPST has performed better with a 3.71% return vs 3.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JPST is cheaper with a 0.18% expense ratio, compared with 0.44% for FTSM.
FTSM has the higher dividend yield at 4.12%, compared with 3.85% for JPST.
They also come from different issuers: First Trust and JPMorgan. Their fees differ too: 0.44% for FTSM and 0.18% for JPST.
FTSM currently has the higher Sharpe Ratio (8.33 vs 7.56), 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.
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