JCPI vs. VGIT
JCPI (JPMorgan Inflation Managed Bond ETF) and VGIT (Vanguard Intermediate-Term Treasury ETF) are both exchange-traded funds - JCPI is a Inflation-Protected Bonds fund actively managed by JPMorgan, while VGIT is a Government Bonds fund tracking the Bloomberg U.S. Treasury 3-10 Year Index. JCPI is actively managed, while VGIT is passively managed. Over the past 3 years, JCPI returned 5.40%/yr vs 3.69%/yr for VGIT. A 0.73 correlation means they provide meaningful diversification when combined. JCPI charges 0.25%/yr vs 0.03%/yr for VGIT.
Performance
JCPI vs. VGIT - Performance Comparison
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Returns By Period
In the year-to-date period, JCPI achieves a 1.34% return, which is significantly higher than VGIT's -0.29% return.
JCPI
- 1D
- -0.00%
- 1M
- -0.47%
- YTD
- 1.34%
- 6M
- 1.12%
- 1Y
- 4.86%
- 3Y*
- 5.40%
- 5Y*
- —
- 10Y*
- —
VGIT
- 1D
- -0.12%
- 1M
- 0.16%
- YTD
- -0.29%
- 6M
- 0.04%
- 1Y
- 3.43%
- 3Y*
- 3.69%
- 5Y*
- 0.01%
- 10Y*
- 1.20%
JCPI vs. VGIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JCPI JPMorgan Inflation Managed Bond ETF | 1.34% | 7.10% | 4.70% | 5.04% | -5.53% |
VGIT Vanguard Intermediate-Term Treasury ETF | -0.29% | 7.34% | 1.39% | 4.28% | -3.95% |
Correlation
The correlation between JCPI and VGIT is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2022 | 0.73 |
The correlation between JCPI and VGIT has been stable across timeframes, ranging from 0.73 to 0.77 - a consistent structural relationship.
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Return for Risk
JCPI vs. VGIT — Risk / Return Rank
JCPI
VGIT
JCPI vs. VGIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Inflation Managed Bond ETF (JCPI) and Vanguard Intermediate-Term Treasury ETF (VGIT). 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.
| JCPI | VGIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.72 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.17 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.05 | 1.13 | +1.92 |
| Martin ratioReturn relative to average drawdown | 10.17 | 3.18 | +7.00 |
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Drawdowns
JCPI vs. VGIT - Drawdown Comparison
The maximum JCPI drawdown since its inception was -7.85%, smaller than the maximum VGIT drawdown of -16.05%. Use the drawdown chart below to compare losses from any high point for JCPI and VGIT.
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Drawdown Indicators
| JCPI | VGIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.85% | -16.05% | +8.20% |
Max Drawdown (1Y)Largest decline over 1 year | -1.60% | -2.83% | +1.23% |
Max Drawdown (3Y)Largest decline over 3 years | -2.81% | -4.34% | +1.53% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.02% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.05% | — |
Current DrawdownCurrent decline from peak | -0.74% | -2.22% | +1.48% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -3.52% | +1.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 1.01% | -0.53% |
Volatility
JCPI vs. VGIT - Volatility Comparison
The current volatility for JPMorgan Inflation Managed Bond ETF (JCPI) is 0.90%, while Vanguard Intermediate-Term Treasury ETF (VGIT) has a volatility of 1.15%. This indicates that JCPI experiences smaller price fluctuations and is considered to be less risky than VGIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JCPI | VGIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 1.15% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 2.06% | 2.40% | -0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.91% | 3.34% | -0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.49% | 5.38% | -0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.49% | 4.50% | -0.01% |
JCPI vs. VGIT - Expense Ratio Comparison
JCPI has a 0.25% expense ratio, which is higher than VGIT's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
JCPI vs. VGIT - Dividend Comparison
JCPI's dividend yield for the trailing twelve months is around 3.95%, more than VGIT's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JCPI JPMorgan Inflation Managed Bond ETF | 3.95% | 3.93% | 3.98% | 3.45% | 3.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGIT Vanguard Intermediate-Term Treasury ETF | 3.86% | 3.79% | 3.67% | 2.73% | 1.74% | 1.69% | 2.23% | 2.24% | 2.05% | 1.67% | 1.69% | 1.69% |
Frequently Asked Questions
JCPI and VGIT have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGIT has higher volatility (1.15%) compared to JCPI (0.90%). In terms of maximum drawdown, JCPI dropped -7.85% vs VGIT's -16.05%.
On 3-year performance, JCPI leads with 5.40% vs 3.69% for VGIT. On fees, VGIT is cheaper at 0.03% per year. On volatility, JCPI has been the lower-risk option at 0.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, JCPI has performed better with a 5.40% return vs 3.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGIT is cheaper with a 0.03% expense ratio, compared with 0.25% for JCPI.
JCPI has the higher dividend yield at 3.95%, compared with 3.86% for VGIT.
JCPI is categorized as Inflation-Protected Bonds, while VGIT is Government Bonds. They also come from different issuers: JPMorgan and Vanguard. Their fees differ too: 0.25% for JCPI and 0.03% for VGIT.
JCPI currently has the higher Sharpe Ratio (1.68 vs 0.96), 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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