JPAS.L vs. UNCU.L
JPAS.L (JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc) and UNCU.L (First Trust US Equity Income UCITS ETF Class B) are both Dividend funds. JPAS.L is actively managed, while UNCU.L is passively managed. Over the past 5 years, JPAS.L returned 4.11%/yr vs 10.24%/yr for UNCU.L. At a 0.05 correlation, their price movements are largely independent.
Performance
JPAS.L vs. UNCU.L - Performance Comparison
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Different Trading Currencies
JPAS.L is traded in GBP, while UNCU.L is traded in USD. To make them comparable, the UNCU.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 1.52% return, which is significantly lower than UNCU.L's 16.75% 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*
- —
UNCU.L
- 1D
- -0.03%
- 1M
- 1.27%
- 6M
- 13.48%
- YTD
- 16.75%
- 1Y
- 22.11%
- 3Y*
- 14.43%
- 5Y*
- 10.24%
- 10Y*
- —
JPAS.L vs. UNCU.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% |
UNCU.L First Trust US Equity Income UCITS ETF Class B | 16.75% | -0.12% | 8.49% | 11.30% | 4.16% | 33.28% | -1.65% | 5.56% |
Correlation
The correlation between JPAS.L and UNCU.L is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
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 | 0.05 |
The correlation between JPAS.L and UNCU.L shifts across timeframes, from 0.03 (5 years) to 0.13 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
JPAS.L vs. UNCU.L — Risk / Return Rank
JPAS.L
UNCU.L
JPAS.L vs. UNCU.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 First Trust US Equity Income UCITS ETF Class B (UNCU.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 | UNCU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.10 | ||
| Sortino ratioReturn per unit of downside risk | -1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.28 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 4.22 | -3.42 |
| Martin ratioReturn relative to average drawdown | 2.05 | 11.91 | -9.86 |
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Drawdowns
JPAS.L vs. UNCU.L - Drawdown Comparison
The maximum JPAS.L drawdown since its inception was -26.18%, smaller than the maximum UNCU.L drawdown of -39.03%. Use the drawdown chart below to compare losses from any high point for JPAS.L and UNCU.L.
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Drawdown Indicators
| JPAS.L | UNCU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.18% | -39.03% | +12.85% |
Max Drawdown (1Y)Largest decline over 1 year | -4.36% | -5.22% | +0.86% |
Max Drawdown (3Y)Largest decline over 3 years | -9.32% | -22.98% | +13.66% |
Max Drawdown (5Y)Largest decline over 5 years | -15.31% | -22.98% | +7.67% |
Current DrawdownCurrent decline from peak | -6.97% | -1.02% | -5.95% |
Average DrawdownAverage peak-to-trough decline | -14.97% | -6.53% | -8.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 1.85% | -0.14% |
Volatility
JPAS.L vs. UNCU.L - Volatility Comparison
The current volatility for JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc (JPAS.L) is 1.77%, while First Trust US Equity Income UCITS ETF Class B (UNCU.L) has a volatility of 4.27%. This indicates that JPAS.L experiences smaller price fluctuations and is considered to be less risky than UNCU.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 | UNCU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 4.27% | -2.50% |
Volatility (6M)Calculated over the trailing 6-month period | 4.71% | 9.90% | -5.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.37% | 13.35% | -6.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.32% | 17.37% | -9.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.24% | 21.93% | -9.69% |
Dividends
JPAS.L vs. UNCU.L - Dividend Comparison
Neither JPAS.L nor UNCU.L has paid dividends to shareholders.
Frequently Asked Questions
JPAS.L and UNCU.L have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: JPMorgan and First Trust.
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