JPST vs. FLRN
JPST (JPMorgan Ultra-Short Income ETF) and FLRN (SPDR Bloomberg Barclays Investment Grade Floating Rate ETF) are both exchange-traded funds - JPST is a Ultrashort Bond fund actively managed by JPMorgan, while FLRN is a Corporate Bonds fund tracking the Bloomberg US Floating Rate Notes (<5 Y). JPST is actively managed, while FLRN is passively managed. Over the past 5 years, JPST returned 3.60%/yr vs 4.19%/yr for FLRN. At a 0.06 correlation, their price movements are largely independent. JPST charges 0.18%/yr vs 0.15%/yr for FLRN.
Performance
JPST vs. FLRN - Performance Comparison
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Returns By Period
In the year-to-date period, JPST achieves a 1.38% return, which is significantly lower than FLRN's 1.90% return.
JPST
- 1D
- 0.04%
- 1M
- 0.20%
- YTD
- 1.38%
- 6M
- 1.72%
- 1Y
- 4.29%
- 3Y*
- 5.14%
- 5Y*
- 3.60%
- 10Y*
- —
FLRN
- 1D
- 0.07%
- 1M
- 0.42%
- YTD
- 1.90%
- 6M
- 2.22%
- 1Y
- 4.85%
- 3Y*
- 5.59%
- 5Y*
- 4.19%
- 10Y*
- 3.03%
JPST vs. FLRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JPST JPMorgan Ultra-Short Income ETF | 1.38% | 4.99% | 5.58% | 5.13% | 1.14% | 0.11% | 2.18% | 3.34% | 2.23% | 1.00% |
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 1.90% | 5.01% | 6.32% | 6.54% | 1.31% | 0.39% | 0.77% | 4.02% | 1.39% | 1.09% |
Correlation
The correlation between JPST and FLRN is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since May 22, 2017 | 0.06 |
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Return for Risk
JPST vs. FLRN — Risk / Return Rank
JPST
FLRN
JPST vs. FLRN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Ultra-Short Income ETF (JPST) and SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN). 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.
| JPST | FLRN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +4.72 | ||
| Omega ratioGain probability vs. loss probability | 3.93 | 3.38 | +0.54 |
| Calmar ratioReturn relative to maximum drawdown | 29.02 | 21.39 | +7.63 |
| Martin ratioReturn relative to average drawdown | 142.48 | 128.96 | +13.52 |
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
| JPST | FLRN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 8.10 | 7.12 | +0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 6.29 | 2.50 | +3.79 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.72 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.20 | 0.50 | +2.70 |
Drawdowns
JPST vs. FLRN - Drawdown Comparison
The maximum JPST drawdown since its inception was -3.28%, smaller than the maximum FLRN drawdown of -14.64%. Use the drawdown chart below to compare losses from any high point for JPST and FLRN.
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Drawdown Indicators
| JPST | FLRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.28% | -14.64% | +11.36% |
Max Drawdown (1Y)Largest decline over 1 year | -0.15% | -0.23% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -0.30% | -1.43% | +1.13% |
Max Drawdown (5Y)Largest decline over 5 years | -0.79% | -2.16% | +1.37% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.64% | — |
Current DrawdownCurrent decline from peak | -0.04% | 0.00% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -1.83% | +1.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 0.04% | -0.01% |
Volatility
JPST vs. FLRN - Volatility Comparison
JPMorgan Ultra-Short Income ETF (JPST) has a higher volatility of 0.16% compared to SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) at 0.15%. This indicates that JPST's price experiences larger fluctuations and is considered to be riskier than FLRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPST | FLRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.16% | 0.15% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 0.36% | 0.53% | -0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.53% | 0.69% | -0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.58% | 1.69% | -1.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.93% | 4.20% | -3.27% |
JPST vs. FLRN - Expense Ratio Comparison
JPST has a 0.18% expense ratio, which is higher than FLRN's 0.15% 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
JPST vs. FLRN - Dividend Comparison
JPST's dividend yield for the trailing twelve months is around 4.26%, less than FLRN's 4.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 4.51% | 4.89% | 5.67% | 5.68% | 1.95% | 0.39% | 1.22% | 2.76% | 2.39% | 1.64% | 1.06% | 0.63% |
JPST JPMorgan Ultra-Short Income ETF | 4.26% | 4.43% | 5.16% | 4.79% | 1.83% | 0.73% | 1.43% | 2.69% | 2.07% | 0.96% | 0.00% | 0.00% |
Frequently Asked Questions
JPST and FLRN 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.
JPST has higher volatility (0.16%) compared to FLRN (0.15%). In terms of maximum drawdown, JPST dropped -3.28% vs FLRN's -14.64%.
On 5-year performance, FLRN leads with 4.19% vs 3.60% for JPST. On fees, FLRN is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLRN has performed better with a 4.19% return vs 3.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLRN is cheaper with a 0.15% expense ratio, compared with 0.18% for JPST.
FLRN has the higher dividend yield at 4.51%, compared with 4.26% for JPST.
JPST is categorized as Ultrashort Bond, while FLRN is Corporate Bonds. They also come from different issuers: JPMorgan and State Street. Their fees differ too: 0.18% for JPST and 0.15% for FLRN.
JPST currently has the higher Sharpe Ratio (8.10 vs 7.12), 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.
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