JMMF vs. SBIL

Last updated Jun 3, 2026

JMMF (JPMorgan 100% U.S. Treasury Securities Money Market ETF) and SBIL (Simplify Government Money Market ETF) are both Money Market funds. Both are actively managed. At a 0.19 correlation, their price movements are largely independent. JMMF charges 0.16%/yr vs 0.15%/yr for SBIL.

Performance

JMMF vs. SBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan 100% U.S. Treasury Securities Money Market ETF (JMMF) and Simplify Government Money Market ETF (SBIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JMMF achieves a 1.42% return, which is significantly lower than SBIL's 1.51% return.

JMMF

• 1D: 0.02%
• 1M: 0.29%
• YTD: 1.42%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBIL

• 1D: 0.02%
• 1M: 0.31%
• YTD: 1.51%
• 6M: 1.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JMMF vs. SBIL - Yearly Performance Comparison

	2026 (YTD)	2025
JMMF JPMorgan 100% U.S. Treasury Securities Money Market ETF	1.42%	0.17%
SBIL Simplify Government Money Market ETF	1.51%	0.19%

Correlation

The correlation between JMMF and SBIL is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 12, 2025	0.19

Return for Risk

JMMF vs. SBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan 100% U.S. Treasury Securities Money Market ETF (JMMF) and Simplify Government Money Market ETF (SBIL). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	JMMF	SBIL	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	6.42	14.15	-7.73

Drawdowns

JMMF vs. SBIL - Drawdown Comparison

The maximum JMMF drawdown since its inception was -0.14%, which is greater than SBIL's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for JMMF and SBIL.

Drawdown Indicators

	JMMF	SBIL	Difference
Max Drawdown Largest peak-to-trough decline	-0.14%	-0.03%	-0.11%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.01%	-0.00%	-0.01%

Volatility

Volatility by Period

	JMMF	SBIL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	0.54%	0.28%	+0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.54%	0.28%	+0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.54%	0.28%	+0.26%

JMMF vs. SBIL - Expense Ratio Comparison

JMMF has a 0.16% expense ratio, which is higher than SBIL's 0.15% 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

JMMF vs. SBIL - Dividend Comparison

JMMF's dividend yield for the trailing twelve months is around 1.59%, less than SBIL's 3.26% yield.

Position	TTM	2025
JMMF JPMorgan 100% U.S. Treasury Securities Money Market ETF	1.59%	0.20%
SBIL Simplify Government Money Market ETF	3.26%	1.79%

Frequently Asked Questions

Can I hold both JMMF and SBIL in my portfolio?

JMMF and SBIL have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JMMF or SBIL?

On fees, SBIL is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JMMF or SBIL?

SBIL is cheaper with a 0.15% expense ratio, compared with 0.16% for JMMF.

Which ETF pays a higher dividend yield, JMMF or SBIL?

SBIL has the higher dividend yield at 3.26%, compared with 1.59% for JMMF.

What is the main difference between JMMF and SBIL?

They also come from different issuers: JPMorgan and Simplify. Their fees differ too: 0.16% for JMMF and 0.15% for SBIL.