JPST vs. SHV
JPST (JPMorgan Ultra-Short Income ETF) and SHV (iShares 0-1 Year Treasury Bond ETF) are both exchange-traded funds - JPST is a Ultrashort Bond fund actively managed by JPMorgan, while SHV is a Government Bonds fund tracking the ICE Short US Treasury Securities Index. JPST is actively managed, while SHV is passively managed. Over the past 5 years, JPST returned 3.61%/yr vs 3.31%/yr for SHV. At a 0.28 correlation, their price movements are largely independent. JPST charges 0.18%/yr vs 0.15%/yr for SHV.
Performance
JPST vs. SHV - 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 SHV 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*
- —
SHV
- 1D
- 0.00%
- 1M
- 0.27%
- YTD
- 1.42%
- 6M
- 1.75%
- 1Y
- 3.90%
- 3Y*
- 4.64%
- 5Y*
- 3.31%
- 10Y*
- 2.23%
JPST vs. SHV - 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% |
SHV iShares 0-1 Year Treasury Bond ETF | 1.42% | 4.21% | 5.12% | 5.04% | 0.94% | -0.10% | 0.81% | 2.36% | 1.72% | 0.51% |
Correlation
The correlation between JPST and SHV 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 | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since May 22, 2017 | 0.28 |
The correlation between JPST and SHV shifts across timeframes, from 0.28 (all time) to 0.41 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
JPST vs. SHV — Risk / Return Rank
JPST
SHV
JPST vs. SHV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Ultra-Short Income ETF (JPST) and iShares 0-1 Year Treasury Bond ETF (SHV). 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 | SHV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -11.40 | ||
| Sortino ratioReturn per unit of downside risk | -131.94 | ||
| Omega ratioGain probability vs. loss probability | 3.94 | 53.77 | -49.83 |
| Calmar ratioReturn relative to maximum drawdown | 29.16 | 431.38 | -402.22 |
| Martin ratioReturn relative to average drawdown | 144.13 | 2,419.80 | -2,275.67 |
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 | SHV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 8.09 | 19.49 | -11.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 6.32 | 11.56 | -5.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 8.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.20 | 4.50 | -1.30 |
Drawdowns
JPST vs. SHV - Drawdown Comparison
The maximum JPST drawdown since its inception was -3.28%, which is greater than SHV's maximum drawdown of -0.45%. Use the drawdown chart below to compare losses from any high point for JPST and SHV.
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Drawdown Indicators
| JPST | SHV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.28% | -0.45% | -2.83% |
Max Drawdown (1Y)Largest decline over 1 year | -0.15% | -0.01% | -0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -0.30% | -0.03% | -0.27% |
Max Drawdown (5Y)Largest decline over 5 years | -0.79% | -0.40% | -0.39% |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.45% | — |
Current DrawdownCurrent decline from peak | -0.02% | 0.00% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -0.03% | -0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 0.00% | +0.03% |
Volatility
JPST vs. SHV - Volatility Comparison
JPMorgan Ultra-Short Income ETF (JPST) has a higher volatility of 0.15% compared to iShares 0-1 Year Treasury Bond ETF (SHV) at 0.05%. This indicates that JPST's price experiences larger fluctuations and is considered to be riskier than SHV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPST | SHV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 0.05% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 0.36% | 0.12% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.54% | 0.20% | +0.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.58% | 0.29% | +0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.93% | 0.28% | +0.65% |
JPST vs. SHV - Expense Ratio Comparison
JPST has a 0.18% expense ratio, which is higher than SHV's 0.15% 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. SHV - Dividend Comparison
JPST's dividend yield for the trailing twelve months is around 4.26%, more than SHV's 3.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SHV iShares 0-1 Year Treasury Bond ETF | 3.83% | 4.09% | 5.02% | 4.73% | 1.39% | 0.00% | 0.74% | 2.19% | 1.66% | 0.72% | 0.34% | 0.03% |
Frequently Asked Questions
JPST and SHV 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 SHV (0.05%). In terms of maximum drawdown, JPST dropped -3.28% vs SHV's -0.45%.
On 5-year performance, JPST leads with 3.61% vs 3.31% for SHV. On fees, SHV is cheaper at 0.15% per year. On volatility, SHV has been the lower-risk option at 0.05%. 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 3.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHV is cheaper with a 0.15% expense ratio, compared with 0.18% for JPST.
JPST has the higher dividend yield at 4.26%, compared with 3.83% for SHV.
JPST is categorized as Ultrashort Bond, while SHV is Government Bonds. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.18% for JPST and 0.15% for SHV.
SHV currently has the higher Sharpe Ratio (19.49 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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