JPST vs. VTIP
JPST (JPMorgan Ultra-Short Income ETF) and VTIP (Vanguard Short-Term Inflation-Protected Securities ETF) are both exchange-traded funds - JPST is a Ultrashort Bond fund actively managed by JPMorgan, while VTIP is a Inflation-Protected Bonds fund tracking the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. JPST is actively managed, while VTIP is passively managed. Over the past 5 years, JPST returned 3.63%/yr vs 3.37%/yr for VTIP. At a 0.31 correlation, their price movements are largely independent. JPST charges 0.18%/yr vs 0.03%/yr for VTIP.
Performance
JPST vs. VTIP - Performance Comparison
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Returns By Period
In the year-to-date period, JPST achieves a 1.50% return, which is significantly lower than VTIP's 1.85% return.
JPST
- 1D
- 0.02%
- 1M
- 0.31%
- YTD
- 1.50%
- 6M
- 1.76%
- 1Y
- 4.27%
- 3Y*
- 5.19%
- 5Y*
- 3.63%
- 10Y*
- —
VTIP
- 1D
- -0.04%
- 1M
- -0.06%
- YTD
- 1.85%
- 6M
- 1.95%
- 1Y
- 4.51%
- 3Y*
- 5.25%
- 5Y*
- 3.37%
- 10Y*
- 3.09%
JPST vs. VTIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JPST JPMorgan Ultra-Short Income ETF | 1.50% | 4.99% | 5.58% | 5.13% | 1.14% | 0.11% | 2.18% | 3.34% | 2.23% | 0.98% |
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 1.85% | 6.07% | 4.74% | 4.62% | -2.94% | 5.36% | 4.95% | 4.86% | 0.56% | 0.37% |
Correlation
The correlation between JPST and VTIP is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since May 19, 2017 | 0.31 |
The correlation between JPST and VTIP shifts across timeframes, from 0.31 (all time) to 0.55 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
JPST vs. VTIP — Risk / Return Rank
JPST
VTIP
JPST vs. VTIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Ultra-Short Income ETF (JPST) and Vanguard Short-Term Inflation-Protected Securities ETF (VTIP). 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 | VTIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.06 | ||
| Sortino ratioReturn per unit of downside risk | +12.59 | ||
| Omega ratioGain probability vs. loss probability | 3.97 | 1.65 | +2.32 |
| Calmar ratioReturn relative to maximum drawdown | 29.02 | 6.57 | +22.45 |
| Martin ratioReturn relative to average drawdown | 142.45 | 25.36 | +117.09 |
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Drawdowns
JPST vs. VTIP - Drawdown Comparison
The maximum JPST drawdown since its inception was -3.28%, smaller than the maximum VTIP drawdown of -6.27%. Use the drawdown chart below to compare losses from any high point for JPST and VTIP.
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Drawdown Indicators
| JPST | VTIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.28% | -6.27% | +2.99% |
Max Drawdown (1Y)Largest decline over 1 year | -0.15% | -0.70% | +0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -0.30% | -0.98% | +0.68% |
Max Drawdown (5Y)Largest decline over 5 years | -0.79% | -5.50% | +4.71% |
Max Drawdown (10Y)Largest decline over 10 years | — | -6.27% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.22% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -1.04% | +0.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 0.18% | -0.15% |
Volatility
JPST vs. VTIP - Volatility Comparison
The current volatility for JPMorgan Ultra-Short Income ETF (JPST) is 0.16%, while Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) has a volatility of 0.40%. This indicates that JPST experiences smaller price fluctuations and is considered to be less risky than VTIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPST | VTIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.16% | 0.40% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 0.36% | 1.04% | -0.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.53% | 1.50% | -0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.58% | 2.77% | -2.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.93% | 2.74% | -1.81% |
JPST vs. VTIP - Expense Ratio Comparison
JPST has a 0.18% expense ratio, which is higher than VTIP's 0.03% 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. VTIP - Dividend Comparison
JPST's dividend yield for the trailing twelve months is around 4.25%, more than VTIP's 3.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 3.59% | 3.81% | 2.70% | 2.86% | 6.84% | 4.68% | 1.20% | 1.95% | 2.45% | 1.52% | 0.76% |
Frequently Asked Questions
JPST and VTIP have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTIP has higher volatility (0.40%) compared to JPST (0.16%). In terms of maximum drawdown, JPST dropped -3.28% vs VTIP's -6.27%.
On 5-year performance, JPST leads with 3.63% vs 3.37% for VTIP. On fees, VTIP is cheaper at 0.03% per year. 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 3.63% return vs 3.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTIP is cheaper with a 0.03% expense ratio, compared with 0.18% for JPST.
JPST has the higher dividend yield at 4.25%, compared with 3.59% for VTIP.
JPST is categorized as Ultrashort Bond, while VTIP is Inflation-Protected Bonds. They also come from different issuers: JPMorgan and Vanguard. Their fees differ too: 0.18% for JPST and 0.03% for VTIP.
JPST currently has the higher Sharpe Ratio (8.13 vs 3.07), 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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