JPST vs. TBIL
Compare and contrast key facts about JPMorgan Ultra-Short Income ETF (JPST) and US Treasury 3 Month Bill ETF (TBIL).
JPST and TBIL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JPST is an actively managed fund by JPMorgan. It was launched on May 17, 2017. TBIL is a passively managed fund by US Benchmark Series that tracks the performance of the ICE BofA US Treasury Bill 3 Month Index. It was launched on Aug 8, 2022.
Performance
JPST vs. TBIL - Performance Comparison
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JPST vs. TBIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JPST JPMorgan Ultra-Short Income ETF | 0.71% | 4.99% | 5.58% | 5.13% | 1.39% |
TBIL US Treasury 3 Month Bill ETF | 0.87% | 4.19% | 5.15% | 5.12% | 1.30% |
Returns By Period
In the year-to-date period, JPST achieves a 0.71% return, which is significantly lower than TBIL's 0.87% return.
JPST
- 1D
- 0.08%
- 1M
- 0.03%
- YTD
- 0.71%
- 6M
- 1.89%
- 1Y
- 4.41%
- 3Y*
- 5.12%
- 5Y*
- 3.50%
- 10Y*
- —
TBIL
- 1D
- 0.00%
- 1M
- 0.32%
- YTD
- 0.87%
- 6M
- 1.89%
- 1Y
- 4.05%
- 3Y*
- 4.71%
- 5Y*
- —
- 10Y*
- —
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JPST vs. TBIL - Expense Ratio Comparison
JPST has a 0.18% expense ratio, which is higher than TBIL'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%.
Return for Risk
JPST vs. TBIL — Risk / Return Rank
JPST
TBIL
JPST vs. TBIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Ultra-Short Income ETF (JPST) and US Treasury 3 Month Bill ETF (TBIL). 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 | TBIL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 7.27 | 14.34 | -7.07 |
Sortino ratioReturn per unit of downside risk | 13.92 | 63.08 | -49.16 |
Omega ratioGain probability vs. loss probability | 3.41 | 19.16 | -15.75 |
Calmar ratioReturn relative to maximum drawdown | 14.93 | 204.06 | -189.13 |
Martin ratioReturn relative to average drawdown | 94.51 | 1,017.13 | -922.62 |
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 | TBIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 7.27 | 14.34 | -7.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 6.16 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.16 | 14.17 | -11.01 |
Correlation
The correlation between JPST and TBIL is 0.21, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
JPST vs. TBIL - Dividend Comparison
JPST's dividend yield for the trailing twelve months is around 4.36%, more than TBIL's 4.28% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JPST JPMorgan Ultra-Short Income ETF | 4.36% | 4.43% | 5.16% | 4.79% | 1.83% | 0.73% | 1.43% | 2.69% | 2.07% | 0.96% |
TBIL US Treasury 3 Month Bill ETF | 4.28% | 4.07% | 5.02% | 5.00% | 1.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
JPST vs. TBIL - Drawdown Comparison
The maximum JPST drawdown since its inception was -3.28%, which is greater than TBIL's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for JPST and TBIL.
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Drawdown Indicators
| JPST | TBIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.28% | -0.10% | -3.18% |
Max Drawdown (1Y)Largest decline over 1 year | -0.30% | -0.02% | -0.28% |
Max Drawdown (5Y)Largest decline over 5 years | -0.79% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.08% | 0.00% | -0.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 0.00% | +0.05% |
Volatility
JPST vs. TBIL - Volatility Comparison
JPMorgan Ultra-Short Income ETF (JPST) has a higher volatility of 0.22% compared to US Treasury 3 Month Bill ETF (TBIL) at 0.09%. This indicates that JPST's price experiences larger fluctuations and is considered to be riskier than TBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPST | TBIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.22% | 0.09% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 0.35% | 0.19% | +0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.61% | 0.28% | +0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.57% | 0.32% | +0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.94% | 0.32% | +0.62% |