JPST vs. TIP
JPST (JPMorgan Ultra-Short Income ETF) and TIP (iShares TIPS Bond ETF) are both exchange-traded funds - JPST is a Ultrashort Bond fund actively managed by JPMorgan, while TIP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index. JPST is actively managed, while TIP is passively managed. Over the past 5 years, JPST returned 3.64%/yr vs 1.10%/yr for TIP. At a 0.32 correlation, their price movements are largely independent. Both charge a 0.18% expense ratio.
Performance
JPST vs. TIP - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with JPST having a 1.56% return and TIP slightly lower at 1.53%.
JPST
- 1D
- 0.06%
- 1M
- 0.37%
- YTD
- 1.56%
- 6M
- 1.76%
- 1Y
- 4.34%
- 3Y*
- 5.19%
- 5Y*
- 3.64%
- 10Y*
- —
TIP
- 1D
- 0.14%
- 1M
- 0.39%
- YTD
- 1.53%
- 6M
- 1.63%
- 1Y
- 4.91%
- 3Y*
- 3.83%
- 5Y*
- 1.10%
- 10Y*
- 2.54%
JPST vs. TIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JPST JPMorgan Ultra-Short Income ETF | 1.56% | 4.99% | 5.58% | 5.13% | 1.14% | 0.11% | 2.18% | 3.34% | 2.23% | 0.98% |
TIP iShares TIPS Bond ETF | 1.53% | 6.77% | 1.65% | 3.80% | -12.26% | 5.68% | 10.84% | 8.35% | -1.42% | 1.43% |
Correlation
The correlation between JPST and TIP is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since May 19, 2017 | 0.32 |
The correlation between JPST and TIP shifts across timeframes, from 0.32 (all time) to 0.55 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
JPST vs. TIP — Risk / Return Rank
JPST
TIP
JPST vs. TIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Ultra-Short Income ETF (JPST) and iShares TIPS Bond ETF (TIP). 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 | TIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +6.72 | ||
| Sortino ratioReturn per unit of downside risk | +15.74 | ||
| Omega ratioGain probability vs. loss probability | 4.00 | 1.26 | +2.73 |
| Calmar ratioReturn relative to maximum drawdown | 29.30 | 2.49 | +26.81 |
| Martin ratioReturn relative to average drawdown | 143.82 | 7.45 | +136.37 |
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Drawdowns
JPST vs. TIP - Drawdown Comparison
The maximum JPST drawdown since its inception was -3.28%, smaller than the maximum TIP drawdown of -14.57%. Use the drawdown chart below to compare losses from any high point for JPST and TIP.
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Drawdown Indicators
| JPST | TIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.28% | -14.57% | +11.29% |
Max Drawdown (1Y)Largest decline over 1 year | -0.15% | -1.98% | +1.83% |
Max Drawdown (3Y)Largest decline over 3 years | -0.30% | -4.54% | +4.24% |
Max Drawdown (5Y)Largest decline over 5 years | -0.79% | -14.51% | +13.72% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.51% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.33% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -3.43% | +3.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 0.66% | -0.63% |
Volatility
JPST vs. TIP - Volatility Comparison
The current volatility for JPMorgan Ultra-Short Income ETF (JPST) is 0.16%, while iShares TIPS Bond ETF (TIP) has a volatility of 1.03%. This indicates that JPST experiences smaller price fluctuations and is considered to be less risky than TIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPST | TIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.16% | 1.03% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 0.36% | 2.33% | -1.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.53% | 3.38% | -2.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.58% | 6.21% | -5.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.93% | 5.74% | -4.81% |
JPST vs. TIP - Expense Ratio Comparison
Both JPST and TIP have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
JPST vs. TIP - Dividend Comparison
JPST's dividend yield for the trailing twelve months is around 4.25%, more than TIP's 3.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JPST JPMorgan Ultra-Short Income ETF | 4.25% | 4.43% | 5.16% | 4.79% | 1.83% | 0.73% | 1.43% | 2.69% | 2.07% | 0.96% | 0.00% | 0.00% |
TIP iShares TIPS Bond ETF | 3.76% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
Frequently Asked Questions
JPST and TIP have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TIP has higher volatility (1.03%) compared to JPST (0.16%). In terms of maximum drawdown, JPST dropped -3.28% vs TIP's -14.57%.
On 5-year performance, JPST leads with 3.64% vs 1.10% for TIP. Both ETFs have the same 0.18% expense ratio. On volatility, JPST has been the lower-risk option at 0.16%. 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 3.64% return vs 1.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JPST and TIP have the same expense ratio: 0.18% per year.
JPST has the higher dividend yield at 4.25%, compared with 3.76% for TIP.
JPST is categorized as Ultrashort Bond, while TIP is Inflation-Protected Bonds. They also come from different issuers: JPMorgan and iShares.
JPST currently has the higher Sharpe Ratio (8.18 vs 1.46), 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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