JPSE vs. JPLD

Last updated Jun 24, 2026

JPSE (JPMorgan Diversified Return U.S. Small Cap Equity ETF) and JPLD (JPMorgan Limited Duration Bond ETF) are both exchange-traded funds - JPSE is a Small Cap Growth Equities fund tracking the JPMorgan Diversified Factor US Small Cap Equity Index, while JPLD is a Short-Term Bond fund actively managed by JPMorgan. JPSE is passively managed, while JPLD is actively managed. Over the past year, JPSE returned 32.88% vs 4.12% for JPLD. At a 0.14 correlation, their price movements are largely independent. JPSE charges 0.29%/yr vs 0.24%/yr for JPLD.

Performance

JPSE vs. JPLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE) and JPMorgan Limited Duration Bond ETF (JPLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPSE achieves a 18.18% return, which is significantly higher than JPLD's 1.15% return.

JPSE

• 1D: -0.57%
• 1M: 2.65%
• YTD: 18.18%
• 6M: 16.01%
• 1Y: 32.88%
• 3Y*: 16.38%
• 5Y*: 7.37%
• 10Y*: —

JPLD

• 1D: 0.07%
• 1M: 0.38%
• YTD: 1.15%
• 6M: 1.26%
• 1Y: 4.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JPSE vs. JPLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF	18.18%	8.77%	8.07%	4.42%
JPLD JPMorgan Limited Duration Bond ETF	1.15%	6.01%	6.49%	3.15%

Correlation

The correlation between JPSE and JPLD is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jul 31, 2023	0.14

Return for Risk

JPSE vs. JPLD — Risk / Return Rank

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

JPSE

JPSE Risk / Return Rank: 73
JPSE Sharpe Ratio Rank: 68
JPSE Sortino Ratio Rank: 70
JPSE Omega Ratio Rank: 62
JPSE Calmar Ratio Rank: 83
JPSE Martin Ratio Rank: 80

JPLD

JPLD Risk / Return Rank: 91
JPLD Sharpe Ratio Rank: 92
JPLD Sortino Ratio Rank: 94
JPLD Omega Ratio Rank: 93
JPLD Calmar Ratio Rank: 84
JPLD Martin Ratio Rank: 90

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.

JPSE vs. JPLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE) and JPMorgan Limited Duration Bond ETF (JPLD). 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.

	JPSE	JPLD	Difference
Sharpe ratio: Return per unit of total volatility	2.05	2.82	-0.77
Sortino ratio: Return per unit of downside risk	2.94	4.31	-1.36
Omega ratio: Gain probability vs. loss probability	1.35	1.58	-0.23
Calmar ratio: Return relative to maximum drawdown	4.13	4.12	+0.01
Martin ratio: Return relative to average drawdown	14.71	18.72	-4.00

JPSE vs. JPLD - Sharpe Ratio Comparison

The current JPSE Sharpe Ratio is 2.05, which is comparable to the JPLD Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of JPSE and JPLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JPSE vs. JPLD - Drawdown Comparison

The maximum JPSE drawdown since its inception was -43.02%, which is greater than JPLD's maximum drawdown of -1.17%. Use the drawdown chart below to compare losses from any high point for JPSE and JPLD.

Drawdown Indicators

	JPSE	JPLD	Difference
Max Drawdown Largest peak-to-trough decline	-43.02%	-1.17%	-41.85%
Max Drawdown (1Y) Largest decline over 1 year	-8.00%	-1.00%	-7.00%
Max Drawdown (3Y) Largest decline over 3 years	-25.49%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.56%	—	—
Current Drawdown Current decline from peak	-0.66%	-0.21%	-0.45%
Average Drawdown Average peak-to-trough decline	-7.38%	-0.15%	-7.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	0.22%	+2.02%

Volatility

JPSE vs. JPLD - Volatility Comparison

JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE) has a higher volatility of 4.80% compared to JPMorgan Limited Duration Bond ETF (JPLD) at 0.53%. This indicates that JPSE's price experiences larger fluctuations and is considered to be riskier than JPLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPSE	JPLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.80%	0.53%	+4.27%
Volatility (6M) Calculated over the trailing 6-month period	11.22%	1.05%	+10.17%
Volatility (1Y) Calculated over the trailing 1-year period	16.21%	1.47%	+14.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.08%	1.83%	+18.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.79%	1.83%	+19.96%

JPSE vs. JPLD - Expense Ratio Comparison

JPSE has a 0.29% expense ratio, which is higher than JPLD's 0.24% expense ratio.

Dividends

JPSE vs. JPLD - Dividend Comparison

JPSE's dividend yield for the trailing twelve months is around 1.35%, less than JPLD's 4.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
JPLD JPMorgan Limited Duration Bond ETF	4.20%	4.24%	4.47%	1.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF	1.06%	1.62%	1.66%	1.76%	1.55%	1.24%	1.32%	1.23%	1.18%	0.74%	0.14%

Frequently Asked Questions

Can I hold both JPSE and JPLD in my portfolio?

JPSE and JPLD have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPSE or JPLD?

JPSE has higher volatility (4.80%) compared to JPLD (0.53%). In terms of maximum drawdown, JPSE dropped -43.02% vs JPLD's -1.17%.

Which ETF is better, JPSE or JPLD?

On 1-year performance, JPSE leads with 32.88% vs 4.12% for JPLD. On fees, JPLD is cheaper at 0.24% per year. On volatility, JPLD has been the lower-risk option at 0.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPSE or JPLD?

Over the 1-year period, JPSE has performed better with a 32.88% return vs 4.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPSE or JPLD?

JPLD is cheaper with a 0.24% expense ratio, compared with 0.29% for JPSE.

Which ETF pays a higher dividend yield, JPSE or JPLD?

JPLD has the higher dividend yield at 4.20%, compared with 1.35% for JPSE.

What is the main difference between JPSE and JPLD?

JPSE is categorized as Small Cap Growth Equities, while JPLD is Short-Term Bond. Their fees differ too: 0.29% for JPSE and 0.24% for JPLD.

Which has better risk-adjusted returns?

JPLD currently has the higher Sharpe Ratio (2.82 vs 2.05), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.