JPSA.L vs. VDST.L

Last updated Jun 5, 2026

JPSA.L (JPMorgan USD Ultra-Short Income Active UCITS ETF USD Acc) and VDST.L (Vanguard U.S. Treasury 0-1 Year Bond UCITS ETF (USD) Accumulating) are both exchange-traded funds - JPSA.L is a Ultrashort Bond fund actively managed by JPMorgan, while VDST.L is a Government Bonds fund tracking the Bloomberg Short Treasury Index. JPSA.L is actively managed, while VDST.L is passively managed. Over the past 5 years, JPSA.L returned 3.59%/yr vs 3.36%/yr for VDST.L. At a 0.29 correlation, their price movements are largely independent. JPSA.L charges 0.18%/yr vs 0.05%/yr for VDST.L.

Performance

JPSA.L vs. VDST.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan USD Ultra-Short Income Active UCITS ETF USD Acc (JPSA.L) and Vanguard U.S. Treasury 0-1 Year Bond UCITS ETF (USD) Accumulating (VDST.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with JPSA.L having a 1.40% return and VDST.L slightly higher at 1.46%.

JPSA.L

• 1D: 0.00%
• 1M: 0.24%
• YTD: 1.40%
• 6M: 1.70%
• 1Y: 4.30%
• 3Y*: 5.13%
• 5Y*: 3.59%
• 10Y*: —

VDST.L

• 1D: 0.04%
• 1M: 0.30%
• YTD: 1.46%
• 6M: 1.77%
• 1Y: 3.95%
• 3Y*: 4.71%
• 5Y*: 3.36%
• 10Y*: —

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

JPSA.L vs. VDST.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
JPSA.L JPMorgan USD Ultra-Short Income Active UCITS ETF USD Acc	1.40%	5.07%	5.55%	5.05%	1.05%	0.08%	0.31%
VDST.L Vanguard U.S. Treasury 0-1 Year Bond UCITS ETF (USD) Accumulating	1.46%	4.26%	5.24%	4.98%	0.95%	0.01%	0.03%

Correlation

The correlation between JPSA.L and VDST.L is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (All Time) Calculated using the full available price history since Sep 11, 2020	0.29

Return for Risk

JPSA.L vs. VDST.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JPSA.L

JPSA.L Risk / Return Rank: 99
JPSA.L Sharpe Ratio Rank: 99
JPSA.L Sortino Ratio Rank: 99
JPSA.L Omega Ratio Rank: 99
JPSA.L Calmar Ratio Rank: 99
JPSA.L Martin Ratio Rank: 99

VDST.L

VDST.L Risk / Return Rank: 99
VDST.L Sharpe Ratio Rank: 99
VDST.L Sortino Ratio Rank: 99
VDST.L Omega Ratio Rank: 99
VDST.L Calmar Ratio Rank: 99
VDST.L Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JPSA.L vs. VDST.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 Vanguard U.S. Treasury 0-1 Year Bond UCITS ETF (USD) Accumulating (VDST.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	VDST.L	Difference
Sharpe ratio: Return per unit of total volatility	6.47	9.31	-2.84
Sortino ratio: Return per unit of downside risk	12.63	22.17	-9.54
Omega ratio: Gain probability vs. loss probability	2.77	4.88	-2.11
Calmar ratio: Return relative to maximum drawdown	21.05	36.06	-15.01
Martin ratio: Return relative to average drawdown	105.71	244.57	-138.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPSA.L vs. VDST.L - Sharpe Ratio Comparison

The current JPSA.L Sharpe Ratio is 6.47, which is lower than the VDST.L Sharpe Ratio of 9.31. The chart below compares the historical Sharpe Ratios of JPSA.L and VDST.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JPSA.L	VDST.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	6.47	9.31	-2.84
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	5.69	8.05	-2.36
Sharpe Ratio (All Time) Calculated using the full available price history	3.98	7.83	-3.86

Drawdowns

JPSA.L vs. VDST.L - Drawdown Comparison

The maximum JPSA.L drawdown since its inception was -2.92%, which is greater than VDST.L's maximum drawdown of -0.36%. Use the drawdown chart below to compare losses from any high point for JPSA.L and VDST.L.

Drawdown Indicators

	JPSA.L	VDST.L	Difference
Max Drawdown Largest peak-to-trough decline	-2.92%	-0.36%	-2.56%
Max Drawdown (1Y) Largest decline over 1 year	-0.21%	-0.11%	-0.10%
Max Drawdown (3Y) Largest decline over 3 years	-0.39%	-0.15%	-0.24%
Max Drawdown (5Y) Largest decline over 5 years	-0.86%	-0.36%	-0.50%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.11%	-0.03%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.04%	0.02%	+0.02%

Volatility

JPSA.L vs. VDST.L - Volatility Comparison

JPMorgan USD Ultra-Short Income Active UCITS ETF USD Acc (JPSA.L) has a higher volatility of 0.22% compared to Vanguard U.S. Treasury 0-1 Year Bond UCITS ETF (USD) Accumulating (VDST.L) at 0.12%. This indicates that JPSA.L's price experiences larger fluctuations and is considered to be riskier than VDST.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPSA.L	VDST.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.22%	0.12%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	0.50%	0.33%	+0.17%
Volatility (1Y) Calculated over the trailing 1-year period	0.68%	0.42%	+0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.63%	0.47%	+0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.80%	0.46%	+0.34%

JPSA.L vs. VDST.L - Expense Ratio Comparison

JPSA.L has a 0.18% expense ratio, which is higher than VDST.L's 0.05% 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. VDST.L - Dividend Comparison

Neither JPSA.L nor VDST.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JPSA.L and VDST.L in my portfolio?

JPSA.L and VDST.L have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JPSA.L or VDST.L?

On fees, VDST.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JPSA.L or VDST.L?

VDST.L is cheaper with a 0.05% expense ratio, compared with 0.18% for JPSA.L.

What is the main difference between JPSA.L and VDST.L?

JPSA.L is categorized as Ultrashort Bond, while VDST.L is Government Bonds. They also come from different issuers: JPMorgan and Vanguard. Their fees differ too: 0.18% for JPSA.L and 0.05% for VDST.L.