JPST.L vs. TDGB.L

Last updated Jul 16, 2026

JPST.L (JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active UCITS ETF USD (dist)) and TDGB.L (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF) are both exchange-traded funds - JPST.L is a Dividend fund actively managed by JPMorgan, while TDGB.L is a Global Equities fund tracking the Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index. JPST.L is actively managed, while TDGB.L is passively managed. Over the past 5 years, JPST.L returned 3.67%/yr vs 17.71%/yr for TDGB.L. At a 0.01 correlation, their price movements are largely independent. JPST.L charges 0.18%/yr vs 0.38%/yr for TDGB.L.

Performance

JPST.L vs. TDGB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active UCITS ETF USD (dist) (JPST.L) and VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

JPST.L is traded in USD, while TDGB.L is traded in GBP. To make them comparable, the TDGB.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, JPST.L achieves a 1.84% return, which is significantly lower than TDGB.L's 11.13% return.

JPST.L

• 1D: 0.07%
• 1M: 0.32%
• 6M: 1.71%
• YTD: 1.84%
• 1Y: 4.28%
• 3Y*: 5.12%
• 5Y*: 3.67%
• 10Y*: —

TDGB.L

• 1D: 0.57%
• 1M: 1.85%
• 6M: 9.77%
• YTD: 11.13%
• 1Y: 29.45%
• 3Y*: 22.34%
• 5Y*: 17.71%
• 10Y*: 10.39%

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

JPST.L vs. TDGB.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
JPST.L JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active UCITS ETF USD (dist)	1.84%	5.06%	5.58%	5.04%	1.11%	0.02%	2.34%	3.40%	2.03%
TDGB.L VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	11.13%	40.77%	8.81%	14.79%	9.40%	18.51%	-2.72%	8.05%	-12.19%

Correlation

The correlation between JPST.L and TDGB.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	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (All Time) Calculated using the full available price history since Feb 15, 2018	0.01

Return for Risk

JPST.L vs. TDGB.L — Risk / Return Rank

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

JPST.L

JPST.L Risk / Return Rank: 99
JPST.L Sharpe Ratio Rank: 99
JPST.L Sortino Ratio Rank: 99
JPST.L Omega Ratio Rank: 99
JPST.L Calmar Ratio Rank: 98
JPST.L Martin Ratio Rank: 99

TDGB.L

TDGB.L Risk / Return Rank: 95
TDGB.L Sharpe Ratio Rank: 95
TDGB.L Sortino Ratio Rank: 95
TDGB.L Omega Ratio Rank: 94
TDGB.L Calmar Ratio Rank: 95
TDGB.L Martin Ratio Rank: 93

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.

JPST.L vs. TDGB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active UCITS ETF USD (dist) (JPST.L) and VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.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.

	JPST.L	TDGB.L	Difference
Sharpe ratio: Return per unit of total volatility	5.30	2.66	+2.64
Sortino ratio: Return per unit of downside risk	9.15	3.63	+5.52
Omega ratio: Gain probability vs. loss probability	2.70	1.48	+1.22
Calmar ratio: Return relative to maximum drawdown	12.26	5.79	+6.47
Martin ratio: Return relative to average drawdown	91.49	15.45	+76.05

JPST.L vs. TDGB.L - Sharpe Ratio Comparison

The current JPST.L Sharpe Ratio is 5.30, which is higher than the TDGB.L Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of JPST.L and TDGB.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.

Drawdowns

JPST.L vs. TDGB.L - Drawdown Comparison

The maximum JPST.L drawdown since its inception was -3.13%, smaller than the maximum TDGB.L drawdown of -45.20%. Use the drawdown chart below to compare losses from any high point for JPST.L and TDGB.L.

Drawdown Indicators

	JPST.L	TDGB.L	Difference
Max Drawdown Largest peak-to-trough decline	-3.13%	-45.20%	+42.07%
Max Drawdown (1Y) Largest decline over 1 year	-0.34%	-5.06%	+4.72%
Max Drawdown (3Y) Largest decline over 3 years	-0.46%	-13.68%	+13.22%
Max Drawdown (5Y) Largest decline over 5 years	-0.87%	-18.93%	+18.06%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.20%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.10%	-8.11%	+8.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.05%	1.90%	-1.85%

Volatility

JPST.L vs. TDGB.L - Volatility Comparison

The current volatility for JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active UCITS ETF USD (dist) (JPST.L) is 0.19%, while VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.L) has a volatility of 3.08%. This indicates that JPST.L experiences smaller price fluctuations and is considered to be less risky than TDGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPST.L	TDGB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.19%	3.08%	-2.89%
Volatility (6M) Calculated over the trailing 6-month period	0.49%	8.46%	-7.97%
Volatility (1Y) Calculated over the trailing 1-year period	0.79%	11.09%	-10.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.69%	14.19%	-13.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.90%	16.10%	-15.20%

JPST.L vs. TDGB.L - Expense Ratio Comparison

JPST.L has a 0.18% expense ratio, which is lower than TDGB.L's 0.38% expense ratio.

Dividends

JPST.L vs. TDGB.L - Dividend Comparison

JPST.L's dividend yield for the trailing twelve months is around 4.10%, more than TDGB.L's 3.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JPST.L JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active UCITS ETF USD (dist)	4.10%	4.29%	5.28%	4.46%	1.16%	0.67%	1.90%	2.66%	1.80%	0.00%
TDGB.L VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	3.15%	3.50%	4.26%	4.93%	4.40%	4.06%	4.16%	4.52%	4.38%	3.48%

Frequently Asked Questions

Can I hold both JPST.L and TDGB.L in my portfolio?

JPST.L and TDGB.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.

Which ETF is better, JPST.L or TDGB.L?

On fees, JPST.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JPST.L or TDGB.L?

JPST.L is cheaper with a 0.18% expense ratio, compared with 0.38% for TDGB.L.

What is the main difference between JPST.L and TDGB.L?

JPST.L is categorized as Dividend, while TDGB.L is Global Equities. They also come from different issuers: JPMorgan and VanEck. Their fees differ too: 0.18% for JPST.L and 0.38% for TDGB.L.