JGSA.L vs. JPSA.L
JGSA.L (JPM GBP Ultra-Short Income Active ETF GBP Acc) and JPSA.L (JPMorgan USD Ultra-Short Income Active UCITS ETF USD Acc) are both Ultrashort Bond funds from JPMorgan. Both are actively managed. Over the past 5 years, JGSA.L returned 3.45%/yr vs 4.71%/yr for JPSA.L. At a 0.00 correlation, their price movements are largely independent. Both charge a 0.18% expense ratio.
Performance
JGSA.L vs. JPSA.L - Performance Comparison
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Different Trading Currencies
JGSA.L is traded in GBP, while JPSA.L is traded in USD. To make them comparable, the JPSA.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, JGSA.L achieves a 1.67% return, which is significantly lower than JPSA.L's 3.85% return.
JGSA.L
- 1D
- 0.01%
- 1M
- 0.42%
- YTD
- 1.67%
- 6M
- 1.85%
- 1Y
- 4.23%
- 3Y*
- 5.06%
- 5Y*
- 3.45%
- 10Y*
- —
JPSA.L
- 1D
- 0.19%
- 1M
- 2.30%
- YTD
- 3.85%
- 6M
- 4.28%
- 1Y
- 7.61%
- 3Y*
- 3.89%
- 5Y*
- 4.71%
- 10Y*
- —
JGSA.L vs. JPSA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
JGSA.L JPM GBP Ultra-Short Income Active ETF GBP Acc | 1.67% | 5.05% | 5.09% | 5.01% | 0.57% | -0.01% | 1.11% | 0.85% |
JPSA.L JPMorgan USD Ultra-Short Income Active UCITS ETF USD Acc | 3.85% | -2.41% | 7.39% | -0.19% | 13.06% | 1.02% | -0.68% | 1.53% |
Correlation
The correlation between JGSA.L and JPSA.L is -0.06, 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 | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2019 | 0.00 |
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Return for Risk
JGSA.L vs. JPSA.L — Risk / Return Rank
JGSA.L
JPSA.L
JGSA.L vs. JPSA.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 USD Ultra-Short Income Active UCITS ETF USD Acc (JPSA.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.
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.
| JGSA.L | JPSA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.80 | ||
| Sortino ratioReturn per unit of downside risk | +11.23 | ||
| Omega ratioGain probability vs. loss probability | 3.25 | 1.21 | +2.04 |
| Calmar ratioReturn relative to maximum drawdown | 10.09 | 1.51 | +8.58 |
| Martin ratioReturn relative to average drawdown | 52.28 | 4.27 | +48.01 |
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Drawdowns
JGSA.L vs. JPSA.L - Drawdown Comparison
The maximum JGSA.L drawdown since its inception was -1.42%, smaller than the maximum JPSA.L drawdown of -16.28%. Use the drawdown chart below to compare losses from any high point for JGSA.L and JPSA.L.
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Drawdown Indicators
| JGSA.L | JPSA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.42% | -16.28% | +14.86% |
Max Drawdown (1Y)Largest decline over 1 year | -0.42% | -5.02% | +4.60% |
Max Drawdown (3Y)Largest decline over 3 years | -0.42% | -9.48% | +9.06% |
Max Drawdown (5Y)Largest decline over 5 years | -0.73% | -15.97% | +15.24% |
Current DrawdownCurrent decline from peak | 0.00% | -3.01% | +3.01% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -8.21% | +8.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.08% | 1.78% | -1.70% |
Volatility
JGSA.L vs. JPSA.L - Volatility Comparison
The current volatility for JPM GBP Ultra-Short Income Active ETF GBP Acc (JGSA.L) is 0.22%, while JPMorgan USD Ultra-Short Income Active UCITS ETF USD Acc (JPSA.L) has a volatility of 1.57%. This indicates that JGSA.L experiences smaller price fluctuations and is considered to be less risky than JPSA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JGSA.L | JPSA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.22% | 1.57% | -1.35% |
Volatility (6M)Calculated over the trailing 6-month period | 0.55% | 5.01% | -4.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.61% | 6.54% | -5.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.56% | 8.44% | -7.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.62% | 8.65% | -8.03% |
JGSA.L vs. JPSA.L - Expense Ratio Comparison
Both JGSA.L and JPSA.L have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
JGSA.L vs. JPSA.L - Dividend Comparison
Neither JGSA.L nor JPSA.L has paid dividends to shareholders.
Frequently Asked Questions
JGSA.L and JPSA.L have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
JGSA.L and JPSA.L have the same expense ratio: 0.18% per year.
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