JPSA.L vs. JGSA.L
JPSA.L (JPMorgan USD Ultra-Short Income Active UCITS ETF USD Acc) and JGSA.L (JPM GBP Ultra-Short Income Active ETF GBP Acc) are both Ultrashort Bond funds from JPMorgan. Both are actively managed. Over the past 5 years, JPSA.L returned 3.63%/yr vs 2.37%/yr for JGSA.L. At a 0.11 correlation, their price movements are largely independent. Both charge a 0.18% expense ratio.
Performance
JPSA.L vs. JGSA.L - Performance Comparison
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Different Trading Currencies
JPSA.L is traded in USD, while JGSA.L is traded in GBP. To make them comparable, the JGSA.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, JPSA.L achieves a 1.57% return, which is significantly higher than JGSA.L's -0.54% return.
JPSA.L
- 1D
- 0.01%
- 1M
- 0.36%
- YTD
- 1.57%
- 6M
- 1.74%
- 1Y
- 4.22%
- 3Y*
- 5.13%
- 5Y*
- 3.63%
- 10Y*
- —
JGSA.L
- 1D
- -0.30%
- 1M
- -1.50%
- YTD
- -0.54%
- 6M
- -0.70%
- 1Y
- 0.79%
- 3Y*
- 6.29%
- 5Y*
- 2.37%
- 10Y*
- —
JPSA.L vs. JGSA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
JPSA.L JPMorgan USD Ultra-Short Income Active UCITS ETF USD Acc | 1.57% | 5.08% | 5.55% | 5.06% | 1.05% | 0.08% | 2.33% | 2.33% |
JGSA.L JPM GBP Ultra-Short Income Active ETF GBP Acc | -0.54% | 12.98% | 3.34% | 10.55% | -10.18% | -0.92% | 4.21% | 1.60% |
Correlation
The correlation between JPSA.L and JGSA.L is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2019 | 0.11 |
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Return for Risk
JPSA.L vs. JGSA.L — Risk / Return Rank
JPSA.L
JGSA.L
JPSA.L vs. JGSA.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 GBP Ultra-Short Income Active ETF GBP Acc (JGSA.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.
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.
| JPSA.L | JGSA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +6.21 | ||
| Sortino ratioReturn per unit of downside risk | +12.05 | ||
| Omega ratioGain probability vs. loss probability | 2.67 | 1.02 | +1.65 |
| Calmar ratioReturn relative to maximum drawdown | 20.11 | 0.17 | +19.94 |
| Martin ratioReturn relative to average drawdown | 101.82 | 0.38 | +101.44 |
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Drawdowns
JPSA.L vs. JGSA.L - Drawdown Comparison
The maximum JPSA.L drawdown since its inception was -2.91%, smaller than the maximum JGSA.L drawdown of -25.04%. Use the drawdown chart below to compare losses from any high point for JPSA.L and JGSA.L.
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Drawdown Indicators
| JPSA.L | JGSA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.91% | -25.04% | +22.13% |
Max Drawdown (1Y)Largest decline over 1 year | -0.21% | -4.71% | +4.50% |
Max Drawdown (3Y)Largest decline over 3 years | -0.39% | -8.10% | +7.71% |
Max Drawdown (5Y)Largest decline over 5 years | -0.86% | -23.78% | +22.92% |
Current DrawdownCurrent decline from peak | -0.03% | -3.51% | +3.48% |
Average DrawdownAverage peak-to-trough decline | -0.11% | -5.40% | +5.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 2.05% | -2.01% |
Volatility
JPSA.L vs. JGSA.L - Volatility Comparison
The current volatility for JPMorgan USD Ultra-Short Income Active UCITS ETF USD Acc (JPSA.L) is 0.20%, while JPM GBP Ultra-Short Income Active ETF GBP Acc (JGSA.L) has a volatility of 1.60%. This indicates that JPSA.L experiences smaller price fluctuations and is considered to be less risky than JGSA.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 | JGSA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.20% | 1.60% | -1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 0.50% | 5.03% | -4.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.67% | 6.68% | -6.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.63% | 8.58% | -7.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.80% | 8.84% | -8.04% |
JPSA.L vs. JGSA.L - Expense Ratio Comparison
Both JPSA.L and JGSA.L 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
JPSA.L vs. JGSA.L - Dividend Comparison
Neither JPSA.L nor JGSA.L has paid dividends to shareholders.
Frequently Asked Questions
JPSA.L and JGSA.L have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
JPSA.L and JGSA.L have the same expense ratio: 0.18% per year.
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