JPST vs. IBIT
JPST (JPMorgan Ultra-Short Income ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - JPST is a Ultrashort Bond fund actively managed by JPMorgan, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. JPST is actively managed, while IBIT is passively managed. Over the past year, JPST returned 4.27% vs -39.67% for IBIT. At a 0.05 correlation, their price movements are largely independent. JPST charges 0.18%/yr vs 0.25%/yr for IBIT.
Performance
JPST vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, JPST achieves a 1.50% return, which is significantly higher than IBIT's -27.41% return.
JPST
- 1D
- 0.02%
- 1M
- 0.30%
- YTD
- 1.50%
- 6M
- 1.76%
- 1Y
- 4.27%
- 3Y*
- 5.19%
- 5Y*
- 3.63%
- 10Y*
- —
IBIT
- 1D
- -0.03%
- 1M
- -21.94%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -39.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JPST vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
JPST JPMorgan Ultra-Short Income ETF | 1.50% | 4.99% | 5.48% |
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
Correlation
The correlation between JPST and IBIT 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 Jan 11, 2024 | 0.05 |
The correlation between JPST and IBIT shifts across timeframes, from 0.05 (all time) to 0.15 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
JPST vs. IBIT — Risk / Return Rank
JPST
IBIT
JPST vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Ultra-Short Income ETF (JPST) and iShares Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +9.05 | ||
| Sortino ratioReturn per unit of downside risk | +19.13 | ||
| Omega ratioGain probability vs. loss probability | 3.97 | 0.85 | +3.11 |
| Calmar ratioReturn relative to maximum drawdown | 29.02 | -0.78 | +29.80 |
| Martin ratioReturn relative to average drawdown | 142.45 | -1.37 | +143.82 |
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Drawdowns
JPST vs. IBIT - Drawdown Comparison
The maximum JPST drawdown since its inception was -3.28%, smaller than the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for JPST and IBIT.
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Drawdown Indicators
| JPST | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.28% | -52.11% | +48.83% |
Max Drawdown (1Y)Largest decline over 1 year | -0.15% | -52.11% | +51.96% |
Max Drawdown (3Y)Largest decline over 3 years | -0.30% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -0.79% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -49.45% | +49.45% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -16.53% | +16.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 29.64% | -29.61% |
Volatility
JPST vs. IBIT - Volatility Comparison
The current volatility for JPMorgan Ultra-Short Income ETF (JPST) is 0.16%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 12.07%. This indicates that JPST experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPST | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.16% | 12.07% | -11.91% |
Volatility (6M)Calculated over the trailing 6-month period | 0.36% | 34.45% | -34.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.53% | 44.10% | -43.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.58% | 50.26% | -49.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.93% | 50.26% | -49.33% |
JPST vs. IBIT - Expense Ratio Comparison
JPST has a 0.18% expense ratio, which is lower than IBIT's 0.25% expense ratio. Despite the difference, 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. IBIT - Dividend Comparison
JPST's dividend yield for the trailing twelve months is around 4.25%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JPST JPMorgan Ultra-Short Income ETF | 4.25% | 4.43% | 5.16% | 4.79% | 1.83% | 0.73% | 1.43% | 2.69% | 2.07% | 0.96% |
Frequently Asked Questions
JPST and IBIT 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.
IBIT has higher volatility (12.07%) compared to JPST (0.16%). In terms of maximum drawdown, JPST dropped -3.28% vs IBIT's -52.11%.
On 1-year performance, JPST leads with 4.27% vs -39.67% for IBIT. On fees, JPST is cheaper at 0.18% per year. On volatility, JPST has been the lower-risk option at 0.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, JPST has performed better with a 4.27% return vs -39.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JPST is cheaper with a 0.18% expense ratio, compared with 0.25% for IBIT.
JPST has the higher dividend yield at 4.25%, compared with 0.00% for IBIT.
JPST is categorized as Ultrashort Bond, while IBIT is Cryptocurrency. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.18% for JPST and 0.25% for IBIT.
JPST currently has the higher Sharpe Ratio (8.13 vs -0.92), 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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