JPSA.L vs. BB3M.L
JPSA.L (JPMorgan USD Ultra-Short Income Active UCITS ETF USD Acc) and BB3M.L (JPM BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD Acc USD) are both Ultrashort Bond funds from JPMorgan. Both are actively managed. Over the past 5 years, JPSA.L returned 3.59%/yr vs 3.46%/yr for BB3M.L. At a 0.14 correlation, their price movements are largely independent. JPSA.L charges 0.18%/yr vs 0.07%/yr for BB3M.L.
Performance
JPSA.L vs. BB3M.L - Performance Comparison
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Returns By Period
In the year-to-date period, JPSA.L achieves a 1.40% return, which is significantly lower than BB3M.L's 1.48% return.
JPSA.L
- 1D
- 0.00%
- 1M
- 0.27%
- YTD
- 1.40%
- 6M
- 1.70%
- 1Y
- 4.42%
- 3Y*
- 5.13%
- 5Y*
- 3.59%
- 10Y*
- —
BB3M.L
- 1D
- 0.05%
- 1M
- 0.34%
- YTD
- 1.48%
- 6M
- 1.88%
- 1Y
- 3.95%
- 3Y*
- 4.69%
- 5Y*
- 3.46%
- 10Y*
- —
JPSA.L vs. BB3M.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JPSA.L JPMorgan USD Ultra-Short Income Active UCITS ETF USD Acc | 1.40% | 5.07% | 5.55% | 5.05% | 1.05% | -0.01% |
BB3M.L JPM BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD Acc USD | 1.48% | 4.28% | 5.24% | 4.94% | 1.46% | -0.02% |
Correlation
The correlation between JPSA.L and BB3M.L is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2021 | 0.14 |
The correlation between JPSA.L and BB3M.L shifts across timeframes, from 0.01 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
JPSA.L vs. BB3M.L — Risk / Return Rank
JPSA.L
BB3M.L
JPSA.L vs. BB3M.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan USD Ultra-Short Income Active UCITS ETF USD Acc (JPSA.L) and JPM BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD Acc USD (BB3M.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.
| JPSA.L | BB3M.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.67 | ||
| Sortino ratioReturn per unit of downside risk | +4.50 | ||
| Omega ratioGain probability vs. loss probability | 2.77 | 2.14 | +0.62 |
| Calmar ratioReturn relative to maximum drawdown | 21.05 | 28.84 | -7.78 |
| Martin ratioReturn relative to average drawdown | 105.71 | 103.10 | +2.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JPSA.L | BB3M.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.47 | 4.80 | +1.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 5.69 | 3.51 | +2.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.98 | 3.40 | +0.57 |
Drawdowns
JPSA.L vs. BB3M.L - Drawdown Comparison
The maximum JPSA.L drawdown since its inception was -2.92%, which is greater than BB3M.L's maximum drawdown of -1.19%. Use the drawdown chart below to compare losses from any high point for JPSA.L and BB3M.L.
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Drawdown Indicators
| JPSA.L | BB3M.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.92% | -1.19% | -1.73% |
Max Drawdown (1Y)Largest decline over 1 year | -0.21% | -0.14% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -0.39% | -0.23% | -0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -0.86% | -1.19% | +0.33% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.11% | -0.03% | -0.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 0.04% | 0.00% |
Volatility
JPSA.L vs. BB3M.L - Volatility Comparison
The current volatility for JPMorgan USD Ultra-Short Income Active UCITS ETF USD Acc (JPSA.L) is 0.22%, while JPM BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD Acc USD (BB3M.L) has a volatility of 0.30%. This indicates that JPSA.L experiences smaller price fluctuations and is considered to be less risky than BB3M.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPSA.L | BB3M.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.22% | 0.30% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 0.50% | 0.63% | -0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.68% | 0.82% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.63% | 0.99% | -0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.80% | 0.96% | -0.16% |
JPSA.L vs. BB3M.L - Expense Ratio Comparison
JPSA.L has a 0.18% expense ratio, which is higher than BB3M.L's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
JPSA.L vs. BB3M.L - Dividend Comparison
Neither JPSA.L nor BB3M.L has paid dividends to shareholders.
Frequently Asked Questions
JPSA.L and BB3M.L have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BB3M.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BB3M.L is cheaper with a 0.07% expense ratio, compared with 0.18% for JPSA.L.
Their fees differ too: 0.18% for JPSA.L and 0.07% for BB3M.L.
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