JPST vs. ICSH
JPST (JPMorgan Ultra-Short Income ETF) and ICSH (iShares Ultra Short Duration Bond Active ETF) are both Ultrashort Bond funds. Both are actively managed. Over the past 5 years, JPST returned 3.63%/yr vs 3.69%/yr for ICSH. At a 0.40 correlation, their price movements are largely independent. JPST charges 0.18%/yr vs 0.08%/yr for ICSH.
Performance
JPST vs. ICSH - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with JPST having a 1.48% return and ICSH slightly higher at 1.51%.
JPST
- 1D
- -0.04%
- 1M
- 0.24%
- YTD
- 1.48%
- 6M
- 1.62%
- 1Y
- 4.15%
- 3Y*
- 5.13%
- 5Y*
- 3.63%
- 10Y*
- —
ICSH
- 1D
- -0.04%
- 1M
- 0.20%
- YTD
- 1.51%
- 6M
- 1.67%
- 1Y
- 4.20%
- 3Y*
- 5.09%
- 5Y*
- 3.69%
- 10Y*
- 2.77%
JPST vs. ICSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JPST JPMorgan Ultra-Short Income ETF | 1.48% | 4.99% | 5.58% | 5.13% | 1.14% | 0.11% | 2.18% | 3.34% | 2.23% | 0.98% |
ICSH iShares Ultra Short Duration Bond Active ETF | 1.51% | 4.96% | 5.52% | 5.58% | 0.97% | 0.16% | 1.61% | 3.17% | 2.25% | 0.91% |
Correlation
The correlation between JPST and ICSH is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since May 19, 2017 | 0.40 |
The correlation between JPST and ICSH shifts across timeframes, from 0.40 (all time) to 0.55 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
JPST vs. ICSH — Risk / Return Rank
JPST
ICSH
JPST vs. ICSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Ultra-Short Income ETF (JPST) and iShares Ultra Short Duration Bond Active ETF (ICSH). 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 | ICSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.54 | ||
| Sortino ratioReturn per unit of downside risk | -6.44 | ||
| Omega ratioGain probability vs. loss probability | 3.65 | 5.64 | -1.99 |
| Calmar ratioReturn relative to maximum drawdown | 28.05 | 42.62 | -14.57 |
| Martin ratioReturn relative to average drawdown | 133.62 | 244.74 | -111.12 |
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Drawdowns
JPST vs. ICSH - Drawdown Comparison
The maximum JPST drawdown since its inception was -3.28%, smaller than the maximum ICSH drawdown of -3.94%. Use the drawdown chart below to compare losses from any high point for JPST and ICSH.
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Drawdown Indicators
| JPST | ICSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.28% | -3.94% | +0.66% |
Max Drawdown (1Y)Largest decline over 1 year | -0.15% | -0.10% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -0.30% | -0.10% | -0.20% |
Max Drawdown (5Y)Largest decline over 5 years | -0.79% | -0.73% | -0.06% |
Max Drawdown (10Y)Largest decline over 10 years | — | -3.94% | — |
Current DrawdownCurrent decline from peak | -0.08% | -0.09% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -0.08% | 0.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 0.02% | +0.01% |
Volatility
JPST vs. ICSH - Volatility Comparison
JPMorgan Ultra-Short Income ETF (JPST) has a higher volatility of 0.18% compared to iShares Ultra Short Duration Bond Active ETF (ICSH) at 0.15%. This indicates that JPST's price experiences larger fluctuations and is considered to be riskier than ICSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPST | ICSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.18% | 0.15% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 0.38% | 0.32% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.54% | 0.41% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.58% | 0.49% | +0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.93% | 1.06% | -0.13% |
JPST vs. ICSH - Expense Ratio Comparison
JPST has a 0.18% expense ratio, which is higher than ICSH's 0.08% 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. ICSH - Dividend Comparison
JPST's dividend yield for the trailing twelve months is around 4.26%, less than ICSH's 4.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICSH iShares Ultra Short Duration Bond Active ETF | 4.34% | 4.55% | 5.24% | 4.78% | 1.66% | 0.42% | 1.21% | 2.61% | 2.20% | 1.36% | 0.88% | 0.54% |
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 ICSH have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JPST has higher volatility (0.18%) compared to ICSH (0.15%). In terms of maximum drawdown, JPST dropped -3.28% vs ICSH's -3.94%.
On 5-year performance, ICSH leads with 3.69% vs 3.63% for JPST. On fees, ICSH is cheaper at 0.08% 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, ICSH has performed better with a 3.69% return vs 3.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ICSH is cheaper with a 0.08% expense ratio, compared with 0.18% for JPST.
ICSH has the higher dividend yield at 4.34%, compared with 4.26% for JPST.
They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.18% for JPST and 0.08% for ICSH.
ICSH currently has the higher Sharpe Ratio (10.20 vs 7.66), 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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