IBHI vs. JPST

Last updated Jun 5, 2026

IBHI (iShares iBonds 2029 Term High Yield and Income ETF) and JPST (JPMorgan Ultra-Short Income ETF) are both exchange-traded funds - IBHI is a High Yield Bonds fund tracking the Bloomberg 2029 Term High Yield and Income Index - Benchmark TR Gross, while JPST is a Ultrashort Bond fund actively managed by JPMorgan. IBHI is passively managed, while JPST is actively managed. Over the past 3 years, IBHI returned 9.00%/yr vs 5.15%/yr for JPST. At a 0.29 correlation, their price movements are largely independent. IBHI charges 0.35%/yr vs 0.18%/yr for JPST.

Performance

IBHI vs. JPST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds 2029 Term High Yield and Income ETF (IBHI) 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, IBHI achieves a 1.61% return, which is significantly higher than JPST's 1.38% return.

IBHI

• 1D: 0.09%
• 1M: 0.50%
• YTD: 1.61%
• 6M: 2.21%
• 1Y: 6.99%
• 3Y*: 9.00%
• 5Y*: —
• 10Y*: —

JPST

• 1D: -0.02%
• 1M: 0.28%
• YTD: 1.38%
• 6M: 1.70%
• 1Y: 4.23%
• 3Y*: 5.15%
• 5Y*: 3.61%
• 10Y*: —

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

IBHI vs. JPST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IBHI iShares iBonds 2029 Term High Yield and Income ETF	1.61%	7.88%	8.33%	14.21%	-8.52%
JPST JPMorgan Ultra-Short Income ETF	1.38%	4.99%	5.58%	5.13%	1.51%

Correlation

The correlation between IBHI and JPST is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (All Time) Calculated using the full available price history since Mar 11, 2022	0.29

IBHI vs. JPST - Sectors Allocation Comparison

Sectors	IBHI	JPST
Energy	100.0%	0.4%
Basic Materials	-	0.2%
Communication Services	-	5.5%
Consumer Cyclical	-	2.5%
Consumer Defensive	-	0.7%
Financial Services	-	22.6%
Healthcare	-	1.5%
Industrials	-	2.1%
Real Estate	-	0.7%
Technology	-	1.8%
Utilities	-	2.8%

Return for Risk

IBHI vs. JPST — Risk / Return Rank

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

IBHI

IBHI Risk / Return Rank: 64
IBHI Sharpe Ratio Rank: 55
IBHI Sortino Ratio Rank: 61
IBHI Omega Ratio Rank: 57
IBHI Calmar Ratio Rank: 68
IBHI Martin Ratio Rank: 77

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.

IBHI vs. JPST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2029 Term High Yield and Income ETF (IBHI) 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.

	IBHI	JPST	Difference
Sharpe ratio: Return per unit of total volatility	1.85	7.95	-6.10
Sortino ratio: Return per unit of downside risk	2.85	17.21	-14.37
Omega ratio: Gain probability vs. loss probability	1.35	3.85	-2.50
Calmar ratio: Return relative to maximum drawdown	3.33	28.60	-25.28
Martin ratio: Return relative to average drawdown	14.61	143.05	-128.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBHI vs. JPST - Sharpe Ratio Comparison

The current IBHI Sharpe Ratio is 1.85, which is lower than the JPST Sharpe Ratio of 7.95. The chart below compares the historical Sharpe Ratios of IBHI 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.

Sharpe Ratios by Period

	IBHI	JPST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.85	7.95	-6.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	6.31	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	3.20	-2.54

Drawdowns

IBHI vs. JPST - Drawdown Comparison

The maximum IBHI drawdown since its inception was -13.65%, which is greater than JPST's maximum drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for IBHI and JPST.

Drawdown Indicators

	IBHI	JPST	Difference
Max Drawdown Largest peak-to-trough decline	-13.65%	-3.28%	-10.37%
Max Drawdown (1Y) Largest decline over 1 year	-2.11%	-0.15%	-1.96%
Max Drawdown (3Y) Largest decline over 3 years	-5.73%	-0.30%	-5.43%
Max Drawdown (5Y) Largest decline over 5 years	—	-0.79%	—
Current Drawdown Current decline from peak	-0.09%	-0.04%	-0.05%
Average Drawdown Average peak-to-trough decline	-2.84%	-0.08%	-2.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	0.03%	+0.45%

Volatility

IBHI vs. JPST - Volatility Comparison

iShares iBonds 2029 Term High Yield and Income ETF (IBHI) has a higher volatility of 0.92% compared to JPMorgan Ultra-Short Income ETF (JPST) at 0.15%. This indicates that IBHI'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

	IBHI	JPST	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.92%	0.15%	+0.77%
Volatility (6M) Calculated over the trailing 6-month period	2.77%	0.36%	+2.41%
Volatility (1Y) Calculated over the trailing 1-year period	3.81%	0.54%	+3.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.98%	0.58%	+7.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.98%	0.93%	+7.05%

IBHI vs. JPST - Expense Ratio Comparison

IBHI has a 0.35% expense ratio, which is higher than JPST's 0.18% expense ratio.

Dividends

IBHI vs. JPST - Dividend Comparison

IBHI's dividend yield for the trailing twelve months is around 6.69%, more than JPST's 4.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
IBHI iShares iBonds 2029 Term High Yield and Income ETF	6.69%	6.79%	6.66%	6.48%	5.26%	0.00%	0.00%	0.00%	0.00%	0.00%
JPST JPMorgan Ultra-Short Income ETF	4.26%	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 IBHI and JPST in my portfolio?

IBHI and JPST have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBHI or JPST?

IBHI has higher volatility (0.92%) compared to JPST (0.15%). In terms of maximum drawdown, IBHI dropped -13.65% vs JPST's -3.28%.

Which ETF is better, IBHI or JPST?

On 3-year performance, IBHI leads with 9.00% vs 5.15% for JPST. On fees, JPST is cheaper at 0.18% per year. On volatility, JPST has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBHI or JPST?

Over the 3-year period, IBHI has performed better with a 9.00% return vs 5.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBHI or JPST?

JPST is cheaper with a 0.18% expense ratio, compared with 0.35% for IBHI.

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

IBHI has the higher dividend yield at 6.69%, compared with 4.26% for JPST.

What is the main difference between IBHI and JPST?

IBHI is categorized as High Yield Bonds, while JPST is Ultrashort Bond. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.35% for IBHI and 0.18% for JPST.

Which has better risk-adjusted returns?

JPST currently has the higher Sharpe Ratio (7.95 vs 1.85), 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.