JPPA.DE vs. JPPS.DE
JPPA.DE (JPM USD Ultra-Short Income Active UCITS ETF USD Acc) and JPPS.DE (JPM USD Ultra-Short Income Active UCITS ETF USD Dist) are both Ultrashort Bond funds from JPMorgan. Both are actively managed. Over the past 5 years, JPPA.DE returned 4.27%/yr vs 4.29%/yr for JPPS.DE. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.18% expense ratio.
Performance
JPPA.DE vs. JPPS.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with JPPA.DE having a 4.36% return and JPPS.DE slightly higher at 4.50%.
JPPA.DE
- 1D
- -0.27%
- 1M
- 1.38%
- 6M
- 3.29%
- YTD
- 4.36%
- 1Y
- 5.45%
- 3Y*
- 4.38%
- 5Y*
- 4.27%
- 10Y*
- —
JPPS.DE
- 1D
- -0.14%
- 1M
- 1.51%
- 6M
- 3.43%
- YTD
- 4.50%
- 1Y
- 5.52%
- 3Y*
- 4.42%
- 5Y*
- 4.29%
- 10Y*
- —
JPPA.DE vs. JPPS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
JPPA.DE JPM USD Ultra-Short Income Active UCITS ETF USD Acc | 4.36% | -6.63% | 11.65% | 1.48% | 7.22% | 8.54% | -6.81% | -8.56% |
JPPS.DE JPM USD Ultra-Short Income Active UCITS ETF USD Dist | 4.50% | -6.60% | 11.60% | 1.47% | 7.22% | 8.57% | -6.84% | 2.27% |
Correlation
The correlation between JPPA.DE and JPPS.DE is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2019 | 0.88 |
The correlation between JPPA.DE and JPPS.DE shifts across timeframes, from 0.88 (all time) to 1.00 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
JPPA.DE vs. JPPS.DE — Risk / Return Rank
JPPA.DE
JPPS.DE
JPPA.DE vs. JPPS.DE - 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 (JPPA.DE) and JPM USD Ultra-Short Income Active UCITS ETF USD Dist (JPPS.DE). 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.
| JPPA.DE | JPPS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.19 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 1.96 | -0.05 |
| Martin ratioReturn relative to average drawdown | 4.64 | 4.74 | -0.10 |
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Drawdowns
JPPA.DE vs. JPPS.DE - Drawdown Comparison
The maximum JPPA.DE drawdown since its inception was -14.84%, smaller than the maximum JPPS.DE drawdown of -19.53%. Use the drawdown chart below to compare losses from any high point for JPPA.DE and JPPS.DE.
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Drawdown Indicators
| JPPA.DE | JPPS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.84% | -19.53% | +4.69% |
Max Drawdown (1Y)Largest decline over 1 year | -3.24% | -3.24% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -11.19% | -11.23% | +0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -11.62% | -11.65% | +0.03% |
Current DrawdownCurrent decline from peak | -4.86% | -4.75% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -7.34% | -7.08% | -0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 1.33% | 0.00% |
Volatility
JPPA.DE vs. JPPS.DE - Volatility Comparison
JPM USD Ultra-Short Income Active UCITS ETF USD Acc (JPPA.DE) has a higher volatility of 1.56% compared to JPM USD Ultra-Short Income Active UCITS ETF USD Dist (JPPS.DE) at 1.47%. This indicates that JPPA.DE's price experiences larger fluctuations and is considered to be riskier than JPPS.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPPA.DE | JPPS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.56% | 1.47% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 4.20% | 4.11% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.91% | 5.91% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.40% | 7.41% | -0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.14% | 9.38% | -1.24% |
JPPA.DE vs. JPPS.DE - Expense Ratio Comparison
Both JPPA.DE and JPPS.DE have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
JPPA.DE vs. JPPS.DE - Dividend Comparison
JPPA.DE has not paid dividends to shareholders, while JPPS.DE's dividend yield for the trailing twelve months is around 4.04%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
JPPA.DE 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% |
JPPS.DE JPM USD Ultra-Short Income Active UCITS ETF USD Dist | 4.04% | 4.47% | 5.12% | 4.54% | 1.19% | 0.64% | 2.07% | 2.65% | 1.77% |
Frequently Asked Questions
With a correlation of 0.99, JPPA.DE and JPPS.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
JPPA.DE and JPPS.DE have the same expense ratio: 0.18% per year.
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