JPLD vs. LTEBX

Last updated Aug 4, 2026

JPLD (JPMorgan Limited Duration Bond ETF) and LTEBX (American Funds Limited Term Tax-Exempt Bond Fund) are both funds - JPLD is a Short-Term Bond fund actively managed by JPMorgan, while LTEBX is a Municipal Bonds fund managed by American Funds. Over the past 3 years, JPLD returned 5.80%/yr vs 3.52%/yr for LTEBX. Their 0.43 correlation means their historical movements had little consistent relationship. JPLD charges 0.24%/yr vs 0.57%/yr for LTEBX.

Performance

JPLD vs. LTEBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Limited Duration Bond ETF (JPLD) and American Funds Limited Term Tax-Exempt Bond Fund (LTEBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPLD achieves a 1.59% return, which is significantly higher than LTEBX's -0.02% return.

JPLD

• 1D: 0.02%
• 1M: 0.17%
• 6M: 1.03%
• YTD: 1.59%
• 1Y: 3.82%
• 3Y*: 5.80%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.74%

LTEBX

• 1D: -0.06%
• 1M: -1.15%
• 6M: -0.86%
• YTD: -0.02%
• 1Y: 2.53%
• 3Y*: 3.52%
• 5Y*: 1.13%
• 10Y*: 1.65%
• ALL TIME*: 3.33%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JPLD JPMorgan Limited Duration Bond ETF	$14.92M	$21.44M	$24.07M
LTEBX American Funds Limited Term Tax-Exempt Bond Fund	$0.00	$0.00	$0.00

JPLD vs. LTEBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JPLD JPMorgan Limited Duration Bond ETF	1.59%	6.01%	6.49%	3.15%
LTEBX American Funds Limited Term Tax-Exempt Bond Fund	-0.02%	6.02%	1.97%	2.68%

Correlation

The correlation between JPLD and LTEBX is 0.46, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.46
Correlation (3Y) Balances recent behavior with more history.	0.44
Correlation (All Time) Calculated using the full available price history since Jul 31, 2023	0.43

Return for Risk

JPLD vs. LTEBX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JPLD

JPLD Risk / Return Rank: 93
JPLD Sharpe Ratio Rank: 94
JPLD Sortino Ratio Rank: 95
JPLD Omega Ratio Rank: 94
JPLD Calmar Ratio Rank: 89
JPLD Martin Ratio Rank: 93

LTEBX

LTEBX Risk / Return Rank: 45
LTEBX Sharpe Ratio Rank: 51
LTEBX Sortino Ratio Rank: 55
LTEBX Omega Ratio Rank: 74
LTEBX Calmar Ratio Rank: 24
LTEBX Martin Ratio Rank: 21

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JPLD vs. LTEBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Limited Duration Bond ETF (JPLD) and American Funds Limited Term Tax-Exempt Bond Fund (LTEBX). 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.

	JPLD	LTEBX	Difference
Sharpe ratio: Return per unit of total volatility	2.63	1.48	+1.15
Sortino ratio: Return per unit of downside risk	3.95	2.19	+1.76
Omega ratio: Gain probability vs. loss probability	1.53	1.34	+0.19
Calmar ratio: Return relative to maximum drawdown	3.82	1.18	+2.64
Martin ratio: Return relative to average drawdown	17.37	3.07	+14.30

JPLD vs. LTEBX - Sharpe Ratio Comparison

The current JPLD Sharpe Ratio is 2.63, which is higher than the LTEBX Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of JPLD and LTEBX, 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

JPLD vs. LTEBX - Drawdown Comparison

The maximum JPLD drawdown since its inception was -1.17%, smaller than the maximum LTEBX drawdown of -8.33%. Use the drawdown chart below to compare losses from any high point for JPLD and LTEBX.

Drawdown Indicators

	JPLD	LTEBX	Difference
Max Drawdown Largest peak-to-trough decline	-1.17%	-8.33%	+7.16%
Max Drawdown (1Y) Largest decline over 1 year	-1.00%	-2.33%	+1.33%
Max Drawdown (3Y) Largest decline over 3 years	-1.17%	-2.91%	+1.74%
Max Drawdown (5Y) Largest decline over 5 years	—	-8.33%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-8.33%	—
Current Drawdown Current decline from peak	0.00%	-1.86%	+1.86%
Average Drawdown Average peak-to-trough decline	-0.15%	-1.06%	+0.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.22%	0.89%	-0.67%

Volatility

JPLD vs. LTEBX - Volatility Comparison

The current volatility for JPMorgan Limited Duration Bond ETF (JPLD) is 0.35%, while American Funds Limited Term Tax-Exempt Bond Fund (LTEBX) has a volatility of 0.55%. This indicates that JPLD experiences smaller price fluctuations and is considered to be less risky than LTEBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPLD	LTEBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.35%	0.55%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	1.09%	1.57%	-0.48%
Volatility (1Y) Calculated over the trailing 1-year period	1.46%	1.88%	-0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.82%	2.33%	-0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.82%	2.35%	-0.53%

JPLD vs. LTEBX - Expense Ratio Comparison

JPLD has a 0.24% expense ratio, which is lower than LTEBX's 0.57% expense ratio.

Dividends

JPLD vs. LTEBX - Dividend Comparison

JPLD's dividend yield for the trailing twelve months is around 4.28%, more than LTEBX's 2.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPLD JPMorgan Limited Duration Bond ETF	4.28%	4.24%	4.47%	1.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LTEBX American Funds Limited Term Tax-Exempt Bond Fund	2.40%	3.39%	2.34%	1.74%	0.87%	1.24%	1.92%	2.19%	2.04%	2.21%	1.92%	2.34%

Frequently Asked Questions

Can I hold both JPLD and LTEBX in my portfolio?

JPLD and LTEBX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPLD or LTEBX?

LTEBX has higher volatility (0.55%) compared to JPLD (0.35%). In terms of maximum drawdown, JPLD dropped -1.17% vs LTEBX's -8.33%.

Which has better risk-adjusted returns?

JPLD currently has the higher Sharpe Ratio (2.63 vs 1.48), 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.