JPHY vs. JPLD

Last updated Jul 14, 2026

JPHY (JPMorgan High Yield Research Enhanced ETF) and JPLD (JPMorgan Limited Duration Bond ETF) are both exchange-traded funds - JPHY is a High Yield Bonds fund actively managed by JPMorgan, while JPLD is a Short-Term Bond fund actively managed by JPMorgan. Both are actively managed. Over the past year, JPHY returned 5.98% vs 4.11% for JPLD. At a 0.43 correlation, their price movements are largely independent. Both charge a 0.24% expense ratio.

Performance

JPHY vs. JPLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan High Yield Research Enhanced ETF (JPHY) and JPMorgan Limited Duration Bond ETF (JPLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPHY achieves a 2.22% return, which is significantly higher than JPLD's 1.23% return.

JPHY

• 1D: -0.16%
• 1M: -0.00%
• 6M: 1.78%
• YTD: 2.22%
• 1Y: 5.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JPLD

• 1D: -0.09%
• 1M: 0.03%
• 6M: 1.21%
• YTD: 1.23%
• 1Y: 4.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JPHY vs. JPLD - Yearly Performance Comparison

	2026 (YTD)	2025
JPHY JPMorgan High Yield Research Enhanced ETF	2.22%	4.06%
JPLD JPMorgan Limited Duration Bond ETF	1.23%	2.94%

Correlation

The correlation between JPHY and JPLD is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	0.43

Return for Risk

JPHY vs. JPLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JPHY

JPHY Risk / Return Rank: 85
JPHY Sharpe Ratio Rank: 79
JPHY Sortino Ratio Rank: 87
JPHY Omega Ratio Rank: 85
JPHY Calmar Ratio Rank: 84
JPHY Martin Ratio Rank: 91

JPLD

JPLD Risk / Return Rank: 93
JPLD Sharpe Ratio Rank: 94
JPLD Sortino Ratio Rank: 95
JPLD Omega Ratio Rank: 95
JPLD Calmar Ratio Rank: 88
JPLD Martin Ratio Rank: 93

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JPHY vs. JPLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan High Yield Research Enhanced ETF (JPHY) and JPMorgan Limited Duration Bond ETF (JPLD). 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.

	JPHY	JPLD	Difference
Sharpe ratio: Return per unit of total volatility	2.00	2.78	-0.77
Sortino ratio: Return per unit of downside risk	3.15	4.25	-1.10
Omega ratio: Gain probability vs. loss probability	1.41	1.57	-0.16
Calmar ratio: Return relative to maximum drawdown	3.64	4.11	-0.47
Martin ratio: Return relative to average drawdown	16.80	18.82	-2.02

JPHY vs. JPLD - Sharpe Ratio Comparison

The current JPHY Sharpe Ratio is 2.00, which is comparable to the JPLD Sharpe Ratio of 2.78. The chart below compares the historical Sharpe Ratios of JPHY and JPLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JPHY vs. JPLD - Drawdown Comparison

The maximum JPHY drawdown since its inception was -1.65%, which is greater than JPLD's maximum drawdown of -1.17%. Use the drawdown chart below to compare losses from any high point for JPHY and JPLD.

Drawdown Indicators

	JPHY	JPLD	Difference
Max Drawdown Largest peak-to-trough decline	-1.65%	-1.17%	-0.48%
Max Drawdown (1Y) Largest decline over 1 year	-1.65%	-1.00%	-0.65%
Current Drawdown Current decline from peak	-0.49%	-0.24%	-0.25%
Average Drawdown Average peak-to-trough decline	-0.21%	-0.15%	-0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	0.22%	+0.14%

Volatility

JPHY vs. JPLD - Volatility Comparison

JPMorgan High Yield Research Enhanced ETF (JPHY) has a higher volatility of 0.67% compared to JPMorgan Limited Duration Bond ETF (JPLD) at 0.56%. This indicates that JPHY's price experiences larger fluctuations and is considered to be riskier than JPLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPHY	JPLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.67%	0.56%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	2.33%	1.09%	+1.24%
Volatility (1Y) Calculated over the trailing 1-year period	3.00%	1.49%	+1.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.97%	1.83%	+1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.97%	1.83%	+1.14%

JPHY vs. JPLD - Expense Ratio Comparison

Both JPHY and JPLD have an expense ratio of 0.24%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

JPHY vs. JPLD - Dividend Comparison

JPHY's dividend yield for the trailing twelve months is around 6.48%, more than JPLD's 4.28% yield.

Position	TTM	2025	2024	2023
JPHY JPMorgan High Yield Research Enhanced ETF	6.48%	3.32%	0.00%	0.00%
JPLD JPMorgan Limited Duration Bond ETF	4.28%	4.24%	4.47%	1.83%

Frequently Asked Questions

Can I hold both JPHY and JPLD in my portfolio?

JPHY and JPLD have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPHY or JPLD?

JPHY has higher volatility (0.67%) compared to JPLD (0.56%). In terms of maximum drawdown, JPHY dropped -1.65% vs JPLD's -1.17%.

Which ETF is better, JPHY or JPLD?

On 1-year performance, JPHY leads with 5.98% vs 4.11% for JPLD. Both ETFs have the same 0.24% expense ratio. On volatility, JPLD has been the lower-risk option at 0.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPHY or JPLD?

Over the 1-year period, JPHY has performed better with a 5.98% return vs 4.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPHY or JPLD?

JPHY and JPLD have the same expense ratio: 0.24% per year.

Which ETF pays a higher dividend yield, JPHY or JPLD?

JPHY has the higher dividend yield at 6.48%, compared with 4.28% for JPLD.

What is the main difference between JPHY and JPLD?

JPHY is categorized as High Yield Bonds, while JPLD is Short-Term Bond.

Which has better risk-adjusted returns?

JPLD currently has the higher Sharpe Ratio (2.78 vs 2.00), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.