JGSA.L vs. BBM3.L
JGSA.L (JPM GBP Ultra-Short Income Active ETF GBP Acc) and BBM3.L (JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc)) are both exchange-traded funds - JGSA.L is a Ultrashort Bond fund actively managed by JPMorgan, while BBM3.L is a Government Bonds fund tracking the ICE 0-3 Month US Treasury Notes & Bills Index. JGSA.L is actively managed, while BBM3.L is passively managed. Over the past 5 years, JGSA.L returned 3.39%/yr vs 4.56%/yr for BBM3.L. At a correlation of -0.06, they often move in opposite directions. JGSA.L charges 0.18%/yr vs 0.07%/yr for BBM3.L.
Performance
JGSA.L vs. BBM3.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, JGSA.L achieves a 1.38% return, which is significantly lower than BBM3.L's 1.63% return.
JGSA.L
- 1D
- 0.06%
- 1M
- 0.60%
- YTD
- 1.38%
- 6M
- 1.75%
- 1Y
- 4.29%
- 3Y*
- 5.02%
- 5Y*
- 3.39%
- 10Y*
- —
BBM3.L
- 1D
- 0.09%
- 1M
- 1.32%
- YTD
- 1.63%
- 6M
- 1.18%
- 1Y
- 4.93%
- 3Y*
- 1.97%
- 5Y*
- 4.56%
- 10Y*
- —
JGSA.L vs. BBM3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JGSA.L JPM GBP Ultra-Short Income Active ETF GBP Acc | 1.38% | 5.06% | 5.09% | 5.01% | 0.58% | 0.02% |
BBM3.L JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) | 1.63% | -2.96% | 7.04% | -0.79% | 13.68% | 4.38% |
Correlation
The correlation between JGSA.L and BBM3.L is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021 | -0.06 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
JGSA.L vs. BBM3.L — Risk / Return Rank
JGSA.L
BBM3.L
JGSA.L vs. BBM3.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPM GBP Ultra-Short Income Active ETF GBP Acc (JGSA.L) and JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.L). 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.
| JGSA.L | BBM3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +6.38 | ||
| Sortino ratioReturn per unit of downside risk | +12.25 | ||
| Omega ratioGain probability vs. loss probability | 3.34 | 1.13 | +2.20 |
| Calmar ratioReturn relative to maximum drawdown | 10.27 | 1.09 | +9.19 |
| Martin ratioReturn relative to average drawdown | 53.58 | 2.71 | +50.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| JGSA.L | BBM3.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 7.14 | 0.76 | +6.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 6.12 | 0.54 | +5.58 |
Sharpe Ratio (All Time)Calculated using the full available price history | 4.29 | 0.50 | +3.79 |
Drawdowns
JGSA.L vs. BBM3.L - Drawdown Comparison
The maximum JGSA.L drawdown since its inception was -1.42%, smaller than the maximum BBM3.L drawdown of -15.27%. Use the drawdown chart below to compare losses from any high point for JGSA.L and BBM3.L.
Loading charts...
Drawdown Indicators
| JGSA.L | BBM3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.42% | -15.27% | +13.85% |
Max Drawdown (1Y)Largest decline over 1 year | -0.42% | -4.52% | +4.10% |
Max Drawdown (3Y)Largest decline over 3 years | -0.42% | -9.77% | +9.35% |
Max Drawdown (5Y)Largest decline over 5 years | -0.73% | -15.27% | +14.54% |
Current DrawdownCurrent decline from peak | -0.01% | -5.65% | +5.64% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -6.31% | +6.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.08% | 1.81% | -1.73% |
Volatility
JGSA.L vs. BBM3.L - Volatility Comparison
The current volatility for JPM GBP Ultra-Short Income Active ETF GBP Acc (JGSA.L) is 0.24%, while JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.L) has a volatility of 1.89%. This indicates that JGSA.L experiences smaller price fluctuations and is considered to be less risky than BBM3.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| JGSA.L | BBM3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.24% | 1.89% | -1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 0.53% | 4.68% | -4.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.60% | 6.47% | -5.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.55% | 8.43% | -7.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.62% | 8.38% | -7.76% |
JGSA.L vs. BBM3.L - Expense Ratio Comparison
JGSA.L has a 0.18% expense ratio, which is higher than BBM3.L's 0.07% 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
JGSA.L vs. BBM3.L - Dividend Comparison
Neither JGSA.L nor BBM3.L has paid dividends to shareholders.
Frequently Asked Questions
JGSA.L and BBM3.L have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BBM3.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BBM3.L is cheaper with a 0.07% expense ratio, compared with 0.18% for JGSA.L.
JGSA.L is categorized as Ultrashort Bond, while BBM3.L is Government Bonds. Their fees differ too: 0.18% for JGSA.L and 0.07% for BBM3.L.
Find the right allocation for JGSA.L and BBM3.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer