JPIE vs. VSDM

Last updated Jun 4, 2026

JPIE (JPMorgan Income ETF) and VSDM (Vanguard Short Duration Tax-Exempt Bond ETF) are both exchange-traded funds - JPIE is a Multisector Bonds fund actively managed by JPMorgan, while VSDM is a Municipal Bonds fund actively managed by Vanguard. Both are actively managed. Over the past year, JPIE returned 5.90% vs 4.98% for VSDM. At a 0.47 correlation, their price movements are largely independent. JPIE charges 0.41%/yr vs 0.12%/yr for VSDM.

Performance

JPIE vs. VSDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Income ETF (JPIE) and Vanguard Short Duration Tax-Exempt Bond ETF (VSDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPIE achieves a 1.43% return, which is significantly higher than VSDM's 1.22% return.

JPIE

• 1D: -0.13%
• 1M: 0.37%
• YTD: 1.43%
• 6M: 1.83%
• 1Y: 5.90%
• 3Y*: 6.43%
• 5Y*: —
• 10Y*: —

VSDM

• 1D: 0.00%
• 1M: 0.47%
• YTD: 1.22%
• 6M: 1.63%
• 1Y: 4.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JPIE vs. VSDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JPIE JPMorgan Income ETF	1.43%	7.39%	0.70%
VSDM Vanguard Short Duration Tax-Exempt Bond ETF	1.22%	5.39%	-0.15%

Correlation

The correlation between JPIE and VSDM is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Nov 22, 2024	0.47

Return for Risk

JPIE vs. VSDM — Risk / Return Rank

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

JPIE

JPIE Risk / Return Rank: 93
JPIE Sharpe Ratio Rank: 94
JPIE Sortino Ratio Rank: 96
JPIE Omega Ratio Rank: 96
JPIE Calmar Ratio Rank: 88
JPIE Martin Ratio Rank: 93

VSDM

VSDM Risk / Return Rank: 84
VSDM Sharpe Ratio Rank: 94
VSDM Sortino Ratio Rank: 95
VSDM Omega Ratio Rank: 97
VSDM Calmar Ratio Rank: 68
VSDM Martin Ratio Rank: 65

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.

JPIE vs. VSDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Income ETF (JPIE) and Vanguard Short Duration Tax-Exempt Bond ETF (VSDM). 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.

	JPIE	VSDM	Difference
Sharpe ratio: Return per unit of total volatility	3.73	3.67	+0.05
Sortino ratio: Return per unit of downside risk	5.87	5.35	+0.52
Omega ratio: Gain probability vs. loss probability	1.84	1.92	-0.08
Calmar ratio: Return relative to maximum drawdown	5.16	3.42	+1.74
Martin ratio: Return relative to average drawdown	25.53	12.07	+13.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPIE vs. VSDM - Sharpe Ratio Comparison

The current JPIE Sharpe Ratio is 3.73, which is comparable to the VSDM Sharpe Ratio of 3.67. The chart below compares the historical Sharpe Ratios of JPIE and VSDM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JPIE	VSDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.73	3.67	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	2.19	-1.21

Drawdowns

JPIE vs. VSDM - Drawdown Comparison

The maximum JPIE drawdown since its inception was -9.96%, which is greater than VSDM's maximum drawdown of -1.81%. Use the drawdown chart below to compare losses from any high point for JPIE and VSDM.

Drawdown Indicators

	JPIE	VSDM	Difference
Max Drawdown Largest peak-to-trough decline	-9.96%	-1.81%	-8.15%
Max Drawdown (1Y) Largest decline over 1 year	-1.15%	-1.46%	+0.31%
Max Drawdown (3Y) Largest decline over 3 years	-2.40%	—	—
Current Drawdown Current decline from peak	-0.13%	-0.33%	+0.20%
Average Drawdown Average peak-to-trough decline	-2.10%	-0.32%	-1.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.23%	0.41%	-0.18%

Volatility

JPIE vs. VSDM - Volatility Comparison

JPMorgan Income ETF (JPIE) has a higher volatility of 0.60% compared to Vanguard Short Duration Tax-Exempt Bond ETF (VSDM) at 0.44%. This indicates that JPIE's price experiences larger fluctuations and is considered to be riskier than VSDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPIE	VSDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.60%	0.44%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	1.28%	1.07%	+0.21%
Volatility (1Y) Calculated over the trailing 1-year period	1.59%	1.36%	+0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.52%	1.95%	+1.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.52%	1.95%	+1.57%

JPIE vs. VSDM - Expense Ratio Comparison

JPIE has a 0.41% expense ratio, which is higher than VSDM's 0.12% expense ratio.

Dividends

JPIE vs. VSDM - Dividend Comparison

JPIE's dividend yield for the trailing twelve months is around 5.62%, more than VSDM's 3.11% yield.

Position	TTM	2025	2024	2023	2022	2021
JPIE JPMorgan Income ETF	5.62%	5.65%	6.11%	5.70%	4.49%	0.63%
VSDM Vanguard Short Duration Tax-Exempt Bond ETF	3.11%	3.06%	0.35%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JPIE and VSDM in my portfolio?

JPIE and VSDM have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPIE or VSDM?

JPIE has higher volatility (0.60%) compared to VSDM (0.44%). In terms of maximum drawdown, JPIE dropped -9.96% vs VSDM's -1.81%.

Which ETF is better, JPIE or VSDM?

On 1-year performance, JPIE leads with 5.90% vs 4.98% for VSDM. On fees, VSDM is cheaper at 0.12% per year. On volatility, VSDM has been the lower-risk option at 0.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPIE or VSDM?

Over the 1-year period, JPIE has performed better with a 5.90% return vs 4.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPIE or VSDM?

VSDM is cheaper with a 0.12% expense ratio, compared with 0.41% for JPIE.

Which ETF pays a higher dividend yield, JPIE or VSDM?

JPIE has the higher dividend yield at 5.62%, compared with 3.11% for VSDM.

What is the main difference between JPIE and VSDM?

JPIE is categorized as Multisector Bonds, while VSDM is Municipal Bonds. They also come from different issuers: JPMorgan and Vanguard. Their fees differ too: 0.41% for JPIE and 0.12% for VSDM.

Which has better risk-adjusted returns?

JPIE currently has the higher Sharpe Ratio (3.73 vs 3.67), 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.