JPST vs. JPLD

Last updated Jun 23, 2026

JPST (JPMorgan Ultra-Short Income ETF) and JPLD (JPMorgan Limited Duration Bond ETF) are both exchange-traded funds - JPST is a Ultrashort Bond fund actively managed by JPMorgan, while JPLD is a Short-Term Bond fund actively managed by JPMorgan. Both are actively managed. Over the past year, JPST returned 4.15% vs 4.27% for JPLD. A 0.55 correlation means they provide meaningful diversification when combined. JPST charges 0.18%/yr vs 0.24%/yr for JPLD.

Performance

JPST vs. JPLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Ultra-Short Income ETF (JPST) and JPMorgan Limited Duration Bond ETF (JPLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPST achieves a 1.48% return, which is significantly higher than JPLD's 1.02% return.

JPST

• 1D: -0.04%
• 1M: 0.24%
• YTD: 1.48%
• 6M: 1.62%
• 1Y: 4.15%
• 3Y*: 5.13%
• 5Y*: 3.63%
• 10Y*: —

JPLD

• 1D: -0.02%
• 1M: 0.26%
• YTD: 1.02%
• 6M: 1.23%
• 1Y: 4.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JPST vs. JPLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JPST JPMorgan Ultra-Short Income ETF	1.48%	4.99%	5.58%	2.76%
JPLD JPMorgan Limited Duration Bond ETF	1.02%	6.01%	6.49%	3.15%

Correlation

The correlation between JPST and JPLD is 0.55, 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	0.55
Correlation (All Time) Calculated using the full available price history since Jul 31, 2023	0.55

The correlation between JPST and JPLD has been stable across timeframes, ranging from 0.55 to 0.55 - a consistent structural relationship.

Return for Risk

JPST vs. JPLD — Risk / Return Rank

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

JPST

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

JPLD

JPLD Risk / Return Rank: 90
JPLD Sharpe Ratio Rank: 90
JPLD Sortino Ratio Rank: 93
JPLD Omega Ratio Rank: 92
JPLD Calmar Ratio Rank: 83
JPLD Martin Ratio Rank: 90

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 vs. JPLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Ultra-Short Income ETF (JPST) and JPMorgan Limited Duration Bond ETF (JPLD). 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	JPLD	Difference
Sharpe ratio: Return per unit of total volatility	7.66	2.91	+4.76
Sortino ratio: Return per unit of downside risk	16.14	4.46	+11.68
Omega ratio: Gain probability vs. loss probability	3.65	1.60	+2.05
Calmar ratio: Return relative to maximum drawdown	28.05	4.27	+23.78
Martin ratio: Return relative to average drawdown	133.62	19.49	+114.13

JPST vs. JPLD - Sharpe Ratio Comparison

The current JPST Sharpe Ratio is 7.66, which is higher than the JPLD Sharpe Ratio of 2.91. The chart below compares the historical Sharpe Ratios of JPST and JPLD, 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 vs. JPLD - Drawdown Comparison

The maximum JPST drawdown since its inception was -3.28%, which is greater than JPLD's maximum drawdown of -1.17%. Use the drawdown chart below to compare losses from any high point for JPST and JPLD.

Drawdown Indicators

	JPST	JPLD	Difference
Max Drawdown Largest peak-to-trough decline	-3.28%	-1.17%	-2.11%
Max Drawdown (1Y) Largest decline over 1 year	-0.15%	-1.00%	+0.85%
Max Drawdown (3Y) Largest decline over 3 years	-0.30%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-0.79%	—	—
Current Drawdown Current decline from peak	-0.08%	-0.34%	+0.26%
Average Drawdown Average peak-to-trough decline	-0.08%	-0.15%	+0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	0.22%	-0.19%

Volatility

JPST vs. JPLD - Volatility Comparison

The current volatility for JPMorgan Ultra-Short Income ETF (JPST) is 0.18%, while JPMorgan Limited Duration Bond ETF (JPLD) has a volatility of 0.53%. This indicates that JPST experiences smaller price fluctuations and is considered to be less risky than JPLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPST	JPLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.18%	0.53%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	0.38%	1.05%	-0.67%
Volatility (1Y) Calculated over the trailing 1-year period	0.54%	1.48%	-0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.58%	1.84%	-1.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.93%	1.84%	-0.91%

JPST vs. JPLD - Expense Ratio Comparison

JPST has a 0.18% expense ratio, which is lower than JPLD's 0.24% 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. JPLD - Dividend Comparison

JPST's dividend yield for the trailing twelve months is around 4.26%, more than JPLD's 4.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JPLD JPMorgan Limited Duration Bond ETF	4.21%	4.24%	4.47%	1.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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%

Frequently Asked Questions

Can I hold both JPST and JPLD in my portfolio?

JPST and JPLD have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPST or JPLD?

JPLD has higher volatility (0.53%) compared to JPST (0.18%). In terms of maximum drawdown, JPST dropped -3.28% vs JPLD's -1.17%.

Which ETF is better, JPST or JPLD?

On 1-year performance, JPLD leads with 4.27% vs 4.15% for JPST. On fees, JPST is cheaper at 0.18% per year. On volatility, JPST has been the lower-risk option at 0.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPST or JPLD?

Over the 1-year period, JPLD has performed better with a 4.27% return vs 4.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPST or JPLD?

JPST is cheaper with a 0.18% expense ratio, compared with 0.24% for JPLD.

Which ETF pays a higher dividend yield, JPST or JPLD?

JPST has the higher dividend yield at 4.26%, compared with 4.21% for JPLD.

What is the main difference between JPST and JPLD?

JPST is categorized as Ultrashort Bond, while JPLD is Short-Term Bond. Their fees differ too: 0.18% for JPST and 0.24% for JPLD.

Which has better risk-adjusted returns?

JPST currently has the higher Sharpe Ratio (7.66 vs 2.91), 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.