JPSA.L vs. JGST.L
JPSA.L (JPMorgan USD Ultra-Short Income Active UCITS ETF USD Acc) and JGST.L (JPM GBP Ultra-Short Income Active UCITS ETF - GBP (dist)) are both Ultrashort Bond funds from JPMorgan. Both are actively managed. Over the past 5 years, JPSA.L returned 3.59%/yr vs 2.25%/yr for JGST.L. At a 0.12 correlation, their price movements are largely independent. Both charge a 0.18% expense ratio.
Performance
JPSA.L vs. JGST.L - Performance Comparison
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Different Trading Currencies
JPSA.L is traded in USD, while JGST.L is traded in GBP. To make them comparable, the JGST.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 1.40% return, which is significantly higher than JGST.L's 1.06% 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*
- —
JGST.L
- 1D
- -0.43%
- 1M
- -0.40%
- YTD
- 1.06%
- 6M
- 2.37%
- 1Y
- 3.18%
- 3Y*
- 7.65%
- 5Y*
- 2.25%
- 10Y*
- —
JPSA.L vs. JGST.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 | 1.40% | 5.07% | 5.55% | 5.05% | 1.05% | 0.08% | 2.32% | 2.33% |
JGST.L JPM GBP Ultra-Short Income Active UCITS ETF - GBP (dist) | 1.06% | 12.90% | 3.34% | 10.55% | -10.17% | -0.81% | 4.20% | 1.55% |
Correlation
The correlation between JPSA.L and JGST.L is 0.10, 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 | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2019 | 0.12 |
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Return for Risk
JPSA.L vs. JGST.L — Risk / Return Rank
JPSA.L
JGST.L
JPSA.L vs. JGST.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 UCITS ETF - GBP (dist) (JGST.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 | JGST.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.94 | ||
| Sortino ratioReturn per unit of downside risk | +11.82 | ||
| Omega ratioGain probability vs. loss probability | 2.77 | 1.09 | +1.67 |
| Calmar ratioReturn relative to maximum drawdown | 21.05 | 0.76 | +20.29 |
| Martin ratioReturn relative to average drawdown | 105.71 | 1.80 | +103.91 |
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 | JGST.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.47 | 0.53 | +5.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 5.69 | 0.26 | +5.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.98 | 0.28 | +3.69 |
Drawdowns
JPSA.L vs. JGST.L - Drawdown Comparison
The maximum JPSA.L drawdown since its inception was -2.92%, smaller than the maximum JGST.L drawdown of -25.06%. Use the drawdown chart below to compare losses from any high point for JPSA.L and JGST.L.
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Drawdown Indicators
| JPSA.L | JGST.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.92% | -25.06% | +22.14% |
Max Drawdown (1Y)Largest decline over 1 year | -0.21% | -4.63% | +4.42% |
Max Drawdown (3Y)Largest decline over 3 years | -0.39% | -8.19% | +7.80% |
Max Drawdown (5Y)Largest decline over 5 years | -0.86% | -24.98% | +24.12% |
Current DrawdownCurrent decline from peak | 0.00% | -2.02% | +2.02% |
Average DrawdownAverage peak-to-trough decline | -0.11% | -5.22% | +5.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 1.96% | -1.92% |
Volatility
JPSA.L vs. JGST.L - Volatility Comparison
The current volatility for JPMorgan USD Ultra-Short Income Active UCITS ETF USD Acc (JPSA.L) is 0.22%, while JPM GBP Ultra-Short Income Active UCITS ETF - GBP (dist) (JGST.L) has a volatility of 1.90%. This indicates that JPSA.L experiences smaller price fluctuations and is considered to be less risky than JGST.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 | JGST.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.22% | 1.90% | -1.68% |
Volatility (6M)Calculated over the trailing 6-month period | 0.50% | 5.04% | -4.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.68% | 6.71% | -6.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.63% | 8.59% | -7.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.80% | 8.81% | -8.01% |
JPSA.L vs. JGST.L - Expense Ratio Comparison
Both JPSA.L and JGST.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. JGST.L - Dividend Comparison
JPSA.L has not paid dividends to shareholders, while JGST.L's dividend yield for the trailing twelve months is around 4.29%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
JGST.L JPM GBP Ultra-Short Income Active UCITS ETF - GBP (dist) | 4.29% | 4.37% | 5.01% | 3.88% | 1.01% | 0.51% | 0.73% | 0.72% | 0.21% |
JPSA.L JPMorgan 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% |
Frequently Asked Questions
JPSA.L and JGST.L have a correlation of 0.10, 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 JGST.L have the same expense ratio: 0.18% per year.
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