JPST vs. GBIL
JPST (JPMorgan Ultra-Short Income ETF) and GBIL (Goldman Sachs Access Treasury 0-1 Year ETF) are both exchange-traded funds - JPST is a Ultrashort Bond fund actively managed by JPMorgan, while GBIL is a Government Bonds fund tracking the FTSE US Treasury 0-1 Year Composite Select Index. JPST is actively managed, while GBIL is passively managed. Over the past 5 years, JPST returned 3.61%/yr vs 3.32%/yr for GBIL. At a 0.27 correlation, their price movements are largely independent. JPST charges 0.18%/yr vs 0.12%/yr for GBIL.
Performance
JPST vs. GBIL - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with JPST having a 1.40% return and GBIL slightly higher at 1.42%.
JPST
- 1D
- 0.00%
- 1M
- 0.35%
- YTD
- 1.40%
- 6M
- 1.74%
- 1Y
- 4.31%
- 3Y*
- 5.16%
- 5Y*
- 3.61%
- 10Y*
- —
GBIL
- 1D
- 0.02%
- 1M
- 0.28%
- YTD
- 1.42%
- 6M
- 1.73%
- 1Y
- 3.91%
- 3Y*
- 4.64%
- 5Y*
- 3.32%
- 10Y*
- —
JPST vs. GBIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JPST JPMorgan Ultra-Short Income ETF | 1.40% | 4.99% | 5.58% | 5.13% | 1.14% | 0.11% | 2.18% | 3.34% | 2.23% | 1.00% |
GBIL Goldman Sachs Access Treasury 0-1 Year ETF | 1.42% | 4.12% | 5.24% | 4.91% | 1.05% | -0.08% | 0.79% | 2.31% | 1.78% | 0.52% |
Correlation
The correlation between JPST and GBIL is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since May 22, 2017 | 0.27 |
The correlation between JPST and GBIL shifts across timeframes, from 0.27 (all time) to 0.40 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
JPST vs. GBIL — Risk / Return Rank
JPST
GBIL
JPST vs. GBIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Ultra-Short Income ETF (JPST) and Goldman Sachs Access Treasury 0-1 Year ETF (GBIL). 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 | GBIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.79 | ||
| Sortino ratioReturn per unit of downside risk | -85.29 | ||
| Omega ratioGain probability vs. loss probability | 3.94 | 39.42 | -35.48 |
| Calmar ratioReturn relative to maximum drawdown | 29.16 | 196.43 | -167.27 |
| Martin ratioReturn relative to average drawdown | 144.13 | 1,608.66 | -1,464.54 |
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 | GBIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 8.09 | 16.89 | -8.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 6.32 | 5.78 | +0.54 |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.20 | 4.87 | -1.67 |
Drawdowns
JPST vs. GBIL - Drawdown Comparison
The maximum JPST drawdown since its inception was -3.28%, which is greater than GBIL's maximum drawdown of -0.76%. Use the drawdown chart below to compare losses from any high point for JPST and GBIL.
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Drawdown Indicators
| JPST | GBIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.28% | -0.76% | -2.52% |
Max Drawdown (1Y)Largest decline over 1 year | -0.15% | -0.02% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -0.30% | -0.76% | +0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -0.79% | -0.76% | -0.03% |
Current DrawdownCurrent decline from peak | -0.02% | 0.00% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -0.04% | -0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 0.00% | +0.03% |
Volatility
JPST vs. GBIL - Volatility Comparison
JPMorgan Ultra-Short Income ETF (JPST) has a higher volatility of 0.15% compared to Goldman Sachs Access Treasury 0-1 Year ETF (GBIL) at 0.04%. This indicates that JPST's price experiences larger fluctuations and is considered to be riskier than GBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPST | GBIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 0.04% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 0.36% | 0.14% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.54% | 0.23% | +0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.58% | 0.58% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.93% | 0.47% | +0.46% |
JPST vs. GBIL - Expense Ratio Comparison
JPST has a 0.18% expense ratio, which is higher than GBIL's 0.12% 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. GBIL - Dividend Comparison
JPST's dividend yield for the trailing twelve months is around 4.26%, more than GBIL's 3.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GBIL Goldman Sachs Access Treasury 0-1 Year ETF | 3.74% | 4.02% | 4.93% | 4.77% | 1.37% | 0.00% | 0.81% | 2.20% | 1.70% | 0.74% | 0.11% |
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% |
Frequently Asked Questions
JPST and GBIL have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JPST has higher volatility (0.15%) compared to GBIL (0.04%). In terms of maximum drawdown, JPST dropped -3.28% vs GBIL's -0.76%.
On 5-year performance, JPST leads with 3.61% vs 3.32% for GBIL. On fees, GBIL is cheaper at 0.12% per year. On volatility, GBIL has been the lower-risk option at 0.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JPST has performed better with a 3.61% return vs 3.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GBIL is cheaper with a 0.12% expense ratio, compared with 0.18% for JPST.
JPST has the higher dividend yield at 4.26%, compared with 3.74% for GBIL.
JPST is categorized as Ultrashort Bond, while GBIL is Government Bonds. They also come from different issuers: JPMorgan and Goldman Sachs. Their fees differ too: 0.18% for JPST and 0.12% for GBIL.
GBIL currently has the higher Sharpe Ratio (16.89 vs 8.09), 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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