JCPB vs. JPST

Last updated Jun 23, 2026

JCPB (JPMorgan Core Plus Bond ETF) and JPST (JPMorgan Ultra-Short Income ETF) are both exchange-traded funds - JCPB is a Intermediate Core-Plus Bond fund actively managed by JPMorgan, while JPST is a Ultrashort Bond fund actively managed by JPMorgan. Both are actively managed. Over the past 5 years, JCPB returned 1.08%/yr vs 3.63%/yr for JPST. At a 0.42 correlation, their price movements are largely independent. JCPB charges 0.38%/yr vs 0.18%/yr for JPST.

Performance

JCPB vs. JPST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Core Plus Bond ETF (JCPB) 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, JCPB achieves a 0.77% return, which is significantly lower than JPST's 1.48% return.

JCPB

• 1D: -0.21%
• 1M: 0.65%
• YTD: 0.77%
• 6M: 0.88%
• 1Y: 5.46%
• 3Y*: 5.13%
• 5Y*: 1.08%
• 10Y*: —

JPST

• 1D: -0.04%
• 1M: 0.24%
• YTD: 1.48%
• 6M: 1.62%
• 1Y: 4.15%
• 3Y*: 5.13%
• 5Y*: 3.63%
• 10Y*: —

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

JCPB vs. JPST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
JCPB JPMorgan Core Plus Bond ETF	0.77%	7.98%	2.96%	7.13%	-12.90%	-0.51%	9.19%	7.76%
JPST JPMorgan Ultra-Short Income ETF	1.48%	4.99%	5.58%	5.13%	1.14%	0.11%	2.18%	2.97%

Correlation

The correlation between JCPB and JPST is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since Jan 30, 2019	0.42

The correlation between JCPB and JPST shifts across timeframes, from 0.42 (all time) to 0.59 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

JCPB vs. JPST — Risk / Return Rank

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

JCPB

JCPB Risk / Return Rank: 42
JCPB Sharpe Ratio Rank: 43
JCPB Sortino Ratio Rank: 44
JCPB Omega Ratio Rank: 41
JCPB Calmar Ratio Rank: 42
JCPB Martin Ratio Rank: 39

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.

JCPB vs. JPST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Core Plus Bond ETF (JCPB) 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.

	JCPB	JPST	Difference
Sharpe ratio: Return per unit of total volatility	1.47	7.66	-6.19
Sortino ratio: Return per unit of downside risk	2.19	16.14	-13.96
Omega ratio: Gain probability vs. loss probability	1.26	3.65	-2.39
Calmar ratio: Return relative to maximum drawdown	2.02	28.05	-26.03
Martin ratio: Return relative to average drawdown	5.83	133.62	-127.80

JCPB vs. JPST - Sharpe Ratio Comparison

The current JCPB Sharpe Ratio is 1.47, which is lower than the JPST Sharpe Ratio of 7.66. The chart below compares the historical Sharpe Ratios of JCPB 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

JCPB vs. JPST - Drawdown Comparison

The maximum JCPB drawdown since its inception was -16.67%, which is greater than JPST's maximum drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for JCPB and JPST.

Drawdown Indicators

	JCPB	JPST	Difference
Max Drawdown Largest peak-to-trough decline	-16.67%	-3.28%	-13.39%
Max Drawdown (1Y) Largest decline over 1 year	-2.71%	-0.15%	-2.56%
Max Drawdown (3Y) Largest decline over 3 years	-5.97%	-0.30%	-5.67%
Max Drawdown (5Y) Largest decline over 5 years	-16.67%	-0.79%	-15.88%
Current Drawdown Current decline from peak	-1.29%	-0.08%	-1.21%
Average Drawdown Average peak-to-trough decline	-4.24%	-0.08%	-4.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	0.03%	+0.91%

Volatility

JCPB vs. JPST - Volatility Comparison

JPMorgan Core Plus Bond ETF (JCPB) has a higher volatility of 1.06% compared to JPMorgan Ultra-Short Income ETF (JPST) at 0.18%. This indicates that JCPB'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

	JCPB	JPST	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.06%	0.18%	+0.88%
Volatility (6M) Calculated over the trailing 6-month period	2.83%	0.38%	+2.45%
Volatility (1Y) Calculated over the trailing 1-year period	3.74%	0.54%	+3.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.39%	0.58%	+4.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.04%	0.93%	+4.11%

JCPB vs. JPST - Expense Ratio Comparison

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

Dividends

JCPB vs. JPST - Dividend Comparison

JCPB's dividend yield for the trailing twelve months is around 4.92%, more than JPST's 4.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JCPB JPMorgan Core Plus Bond ETF	4.92%	4.90%	5.16%	4.32%	3.01%	2.19%	2.97%	3.01%	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 JCPB and JPST in my portfolio?

JCPB 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, JCPB or JPST?

JCPB has higher volatility (1.06%) compared to JPST (0.18%). In terms of maximum drawdown, JCPB dropped -16.67% vs JPST's -3.28%.

Which ETF is better, JCPB or JPST?

On 5-year performance, JPST leads with 3.63% vs 1.08% for JCPB. On fees, JPST is cheaper at 0.18% per year. On volatility, JPST has been the lower-risk option at 0.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JCPB or JPST?

Over the 5-year period, JPST has performed better with a 3.63% return vs 1.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JCPB or JPST?

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

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

JCPB has the higher dividend yield at 4.92%, compared with 4.26% for JPST.

What is the main difference between JCPB and JPST?

JCPB is categorized as Intermediate Core-Plus Bond, while JPST is Ultrashort Bond. Their fees differ too: 0.38% for JCPB and 0.18% for JPST.

Which has better risk-adjusted returns?

JPST currently has the higher Sharpe Ratio (7.66 vs 1.47), 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.