JPAS.L vs. JPTS.L
JPAS.L (JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc) and JPTS.L (JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active UCITS ETF USD (dist)) are both Dividend funds from JPMorgan. Both are actively managed. Over the past 5 years, JPAS.L returned 4.11%/yr vs 4.36%/yr for JPTS.L. With a 1.00 correlation, they move nearly in lockstep. Both charge a 0.18% expense ratio.
Performance
JPAS.L vs. JPTS.L - Performance Comparison
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Returns By Period
In the year-to-date period, JPAS.L achieves a 1.52% return, which is significantly lower than JPTS.L's 2.16% return.
JPAS.L
- 1D
- -0.62%
- 1M
- -0.14%
- 6M
- 1.35%
- YTD
- 1.52%
- 1Y
- 3.51%
- 3Y*
- 4.11%
- 5Y*
- 4.11%
- 10Y*
- —
JPTS.L
- 1D
- -0.08%
- 1M
- 0.51%
- 6M
- 2.02%
- YTD
- 2.16%
- 1Y
- 4.13%
- 3Y*
- 4.33%
- 5Y*
- 4.36%
- 10Y*
- —
JPAS.L vs. JPTS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
JPAS.L JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc | 1.52% | -2.07% | 7.27% | -0.71% | 13.13% | 1.38% | -1.17% | -22.44% |
JPTS.L JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active UCITS ETF USD (dist) | 2.16% | -2.07% | 7.29% | -0.72% | 13.11% | 1.38% | -1.15% | 1.03% |
Correlation
The correlation between JPAS.L and JPTS.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2019 | 1.00 |
The correlation between JPAS.L and JPTS.L has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
JPAS.L vs. JPTS.L — Risk / Return Rank
JPAS.L
JPTS.L
JPAS.L vs. JPTS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc (JPAS.L) and JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active UCITS ETF USD (dist) (JPTS.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.
| JPAS.L | JPTS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.13 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 1.05 | -0.25 |
| Martin ratioReturn relative to average drawdown | 2.05 | 2.70 | -0.65 |
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Drawdowns
JPAS.L vs. JPTS.L - Drawdown Comparison
The maximum JPAS.L drawdown since its inception was -26.18%, smaller than the maximum JPTS.L drawdown of -30.07%. Use the drawdown chart below to compare losses from any high point for JPAS.L and JPTS.L.
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Drawdown Indicators
| JPAS.L | JPTS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.18% | -30.07% | +3.89% |
Max Drawdown (1Y)Largest decline over 1 year | -4.36% | -4.35% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -9.32% | -9.36% | +0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -15.31% | -15.32% | +0.01% |
Current DrawdownCurrent decline from peak | -6.97% | -3.83% | -3.14% |
Average DrawdownAverage peak-to-trough decline | -14.97% | -13.94% | -1.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 1.70% | +0.01% |
Volatility
JPAS.L vs. JPTS.L - Volatility Comparison
JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc (JPAS.L) has a higher volatility of 1.77% compared to JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active UCITS ETF USD (dist) (JPTS.L) at 1.59%. This indicates that JPAS.L's price experiences larger fluctuations and is considered to be riskier than JPTS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPAS.L | JPTS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 1.59% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 4.71% | 4.65% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.37% | 6.36% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.32% | 8.32% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.24% | 12.95% | -0.71% |
JPAS.L vs. JPTS.L - Expense Ratio Comparison
Both JPAS.L and JPTS.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
JPAS.L vs. JPTS.L - Dividend Comparison
JPAS.L has not paid dividends to shareholders, while JPTS.L's dividend yield for the trailing twelve months is around 4.10%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
JPAS.L JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JPTS.L JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active UCITS ETF USD (dist) | 4.10% | 4.38% | 5.19% | 4.55% | 1.16% | 0.66% | 2.03% | 2.76% | 1.74% |
Frequently Asked Questions
With a correlation of 0.99, JPAS.L and JPTS.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
JPAS.L and JPTS.L have the same expense ratio: 0.18% per year.
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