JPAS.L vs. TDIV.L
JPAS.L (JPM USD Ultra-Short Income Active UCITS ETF USD (Acc)) and TDIV.L (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF USD (Dist)) are both exchange-traded funds - JPAS.L is a Ultrashort Bond fund actively managed by JPMorgan, while TDIV.L is a Global Equities fund tracking the Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index. JPAS.L is actively managed, while TDIV.L is passively managed. Over the past 5 years, JPAS.L returned 4.18%/yr vs 18.35%/yr for TDIV.L. At a correlation of -0.06, they often move in opposite directions. JPAS.L charges 0.18%/yr vs 0.38%/yr for TDIV.L.
Performance
JPAS.L vs. TDIV.L - Performance Comparison
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Different Trading Currencies
JPAS.L is traded in GBP, while TDIV.L is traded in USD. To make them comparable, the TDIV.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, JPAS.L achieves a 1.84% return, which is significantly lower than TDIV.L's 12.00% return.
JPAS.L
- 1D
- 0.27%
- 1M
- -0.19%
- 6M
- 1.19%
- YTD
- 1.84%
- 1Y
- 3.79%
- 3Y*
- 4.09%
- 5Y*
- 4.18%
- 10Y*
- —
TDIV.L
- 1D
- 0.49%
- 1M
- 0.89%
- 6M
- 9.89%
- YTD
- 12.00%
- 1Y
- 29.46%
- 3Y*
- 21.07%
- 5Y*
- 18.35%
- 10Y*
- 13.52%
JPAS.L vs. TDIV.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
JPAS.L JPM USD Ultra-Short Income Active UCITS ETF USD (Acc) | 1.84% | -2.07% | 7.27% | -0.71% | 13.13% | 1.38% | -1.17% | -22.44% |
TDIV.L VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF USD (Dist) | 12.00% | 30.40% | 10.83% | 9.67% | 22.28% | 19.26% | -5.17% | 5.18% |
Correlation
The correlation between JPAS.L and TDIV.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 | -0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2019 | -0.06 |
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Return for Risk
JPAS.L vs. TDIV.L — Risk / Return Rank
JPAS.L
TDIV.L
JPAS.L vs. TDIV.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPM USD Ultra-Short Income Active UCITS ETF USD (Acc) (JPAS.L) and VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF USD (Dist) (TDIV.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 | TDIV.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.19 | ||
| Sortino ratioReturn per unit of downside risk | -2.95 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.52 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | 5.97 | -5.10 |
| Martin ratioReturn relative to average drawdown | 2.20 | 20.13 | -17.93 |
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Drawdowns
JPAS.L vs. TDIV.L - Drawdown Comparison
The maximum JPAS.L drawdown since its inception was -26.18%, smaller than the maximum TDIV.L drawdown of -29.96%. Use the drawdown chart below to compare losses from any high point for JPAS.L and TDIV.L.
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Drawdown Indicators
| JPAS.L | TDIV.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.18% | -29.96% | +3.78% |
Max Drawdown (1Y)Largest decline over 1 year | -4.36% | -4.91% | +0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -9.32% | -12.69% | +3.37% |
Max Drawdown (5Y)Largest decline over 5 years | -15.31% | -12.69% | -2.62% |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.96% | — |
Current DrawdownCurrent decline from peak | -6.67% | 0.00% | -6.67% |
Average DrawdownAverage peak-to-trough decline | -14.96% | -4.47% | -10.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.72% | 1.46% | +0.26% |
Volatility
JPAS.L vs. TDIV.L - Volatility Comparison
The current volatility for JPM USD Ultra-Short Income Active UCITS ETF USD (Acc) (JPAS.L) is 1.28%, while VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF USD (Dist) (TDIV.L) has a volatility of 3.08%. This indicates that JPAS.L experiences smaller price fluctuations and is considered to be less risky than TDIV.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 | TDIV.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 3.08% | -1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 4.69% | 8.41% | -3.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.35% | 10.55% | -4.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.32% | 12.91% | -4.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.24% | 15.94% | -3.70% |
JPAS.L vs. TDIV.L - Expense Ratio Comparison
JPAS.L has a 0.18% expense ratio, which is lower than TDIV.L's 0.38% expense ratio.
Dividends
JPAS.L vs. TDIV.L - Dividend Comparison
JPAS.L has not paid dividends to shareholders, while TDIV.L's dividend yield for the trailing twelve months is around 3.10%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
JPAS.L JPM USD Ultra-Short Income Active UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TDIV.L VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF USD (Dist) | 3.10% | 3.49% | 4.36% | 4.82% | 4.49% | 4.14% | 3.88% | 4.37% | 5.77% | 4.50% |
Frequently Asked Questions
JPAS.L and TDIV.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, JPAS.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JPAS.L is cheaper with a 0.18% expense ratio, compared with 0.38% for TDIV.L.
JPAS.L is categorized as Ultrashort Bond, while TDIV.L is Global Equities. They also come from different issuers: JPMorgan and VanEck. Their fees differ too: 0.18% for JPAS.L and 0.38% for TDIV.L.
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