JPST vs. JQUA
JPST (JPMorgan Ultra-Short Income ETF) and JQUA (JPMorgan U.S. Quality Factor ETF) are both exchange-traded funds - JPST is a Ultrashort Bond fund actively managed by JPMorgan, while JQUA is a Quality Factor fund tracking the JP Morgan US Quality Factor Index. JPST is actively managed, while JQUA is passively managed. Over the past 5 years, JPST returned 3.72%/yr vs 12.98%/yr for JQUA. Their 0.09 correlation means their historical movements had little consistent relationship. JPST charges 0.18%/yr vs 0.12%/yr for JQUA.
Performance
JPST vs. JQUA - Performance Comparison
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Returns By Period
In the year-to-date period, JPST achieves a 2.01% return, which is significantly lower than JQUA's 15.84% return.
JPST
- 1D
- 0.06%
- 1M
- 0.30%
- 6M
- 1.62%
- YTD
- 2.01%
- 1Y
- 3.96%
- 3Y*
- 5.07%
- 5Y*
- 3.72%
- 10Y*
- —
- ALL TIME*
- 2.99%
JQUA
- 1D
- 0.79%
- 1M
- 1.13%
- 6M
- 13.59%
- YTD
- 15.84%
- 1Y
- 23.18%
- 3Y*
- 19.27%
- 5Y*
- 12.98%
- 10Y*
- —
- ALL TIME*
- 14.80%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $283.32M | $279.21M | $317.05M | |
| $27.54M | $28.89M | $36.27M |
JPST vs. JQUA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JPST JPMorgan Ultra-Short Income ETF | 2.01% | 4.99% | 5.58% | 5.13% | 1.14% | 0.11% | 2.18% | 3.34% | 2.23% | 0.13% |
JQUA JPMorgan U.S. Quality Factor ETF | 15.84% | 11.69% | 21.21% | 25.13% | -13.45% | 28.68% | 16.56% | 28.47% | -2.98% | 5.07% |
Correlation
The correlation between JPST and JQUA is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (3Y) Balances recent behavior with more history. | 0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2017 | 0.09 |
The correlation between JPST and JQUA shifts across timeframes, from 0.09 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
JPST vs. JQUA — Risk / Return Rank
JPST
JQUA
JPST vs. JQUA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Ultra-Short Income ETF (JPST) and JPMorgan U.S. Quality Factor ETF (JQUA). 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 | JQUA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.76 | ||
| Sortino ratioReturn per unit of downside risk | +12.82 | ||
| Omega ratioGain probability vs. loss probability | 3.51 | 1.34 | +2.17 |
| Calmar ratioReturn relative to maximum drawdown | 26.75 | 3.27 | +23.48 |
| Martin ratioReturn relative to average drawdown | 126.55 | 13.35 | +113.20 |
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Drawdowns
JPST vs. JQUA - Drawdown Comparison
The maximum JPST drawdown since its inception was -3.28%, smaller than the maximum JQUA drawdown of -32.92%. Use the drawdown chart below to compare losses from any high point for JPST and JQUA.
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Drawdown Indicators
| JPST | JQUA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.28% | -32.92% | +29.64% |
Max Drawdown (1Y)Largest decline over 1 year | -0.15% | -7.13% | +6.98% |
Max Drawdown (3Y)Largest decline over 3 years | -0.30% | -16.81% | +16.51% |
Max Drawdown (5Y)Largest decline over 5 years | -0.79% | -22.47% | +21.68% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -4.10% | +4.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 1.74% | -1.71% |
Volatility
JPST vs. JQUA - Volatility Comparison
The current volatility for JPMorgan Ultra-Short Income ETF (JPST) is 0.14%, while JPMorgan U.S. Quality Factor ETF (JQUA) has a volatility of 2.46%. This indicates that JPST experiences smaller price fluctuations and is considered to be less risky than JQUA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPST | JQUA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.14% | 2.46% | -2.32% |
Volatility (6M)Calculated over the trailing 6-month period | 0.39% | 9.45% | -9.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.52% | 12.01% | -11.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.58% | 15.73% | -15.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.93% | 17.92% | -16.99% |
JPST vs. JQUA - Expense Ratio Comparison
JPST has a 0.18% expense ratio, which is higher than JQUA'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. JQUA - Dividend Comparison
JPST's dividend yield for the trailing twelve months is around 4.20%, more than JQUA's 1.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
JPST JPMorgan Ultra-Short Income ETF | 4.20% | 4.43% | 5.16% | 4.79% | 1.83% | 0.73% | 1.43% | 2.69% | 2.07% | 0.96% |
JQUA JPMorgan U.S. Quality Factor ETF | 1.07% | 1.19% | 1.24% | 1.21% | 1.60% | 1.32% | 1.44% | 1.67% | 2.10% | 0.40% |
Frequently Asked Questions
JPST and JQUA have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JQUA has higher volatility (2.46%) compared to JPST (0.14%). In terms of maximum drawdown, JPST dropped -3.28% vs JQUA's -32.92%.
On 5-year performance, JQUA leads with 12.98% vs 3.72% for JPST. On fees, JQUA is cheaper at 0.12% per year. On volatility, JPST has been the lower-risk option at 0.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JQUA has performed better with a 12.98% return vs 3.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JQUA is cheaper with a 0.12% expense ratio, compared with 0.18% for JPST.
JPST has the higher dividend yield at 4.20%, compared with 1.07% for JQUA.
JPST is categorized as Ultrashort Bond, while JQUA is Quality Factor. Their fees differ too: 0.18% for JPST and 0.12% for JQUA.
JPST currently has the higher Sharpe Ratio (7.71 vs 1.94), 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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