JPST vs. WM

Last updated Jun 14, 2026

JPST (JPMorgan Ultra-Short Income ETF) is Ultrashort Bond fund actively managed by JPMorgan, while WM (Waste Management, Inc.) is a stock. Over the past 5 years, JPST returned 3.63%/yr vs 11.14%/yr for WM. At a 0.04 correlation, their price movements are largely independent.

Performance

JPST vs. WM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Ultra-Short Income ETF (JPST) and Waste Management, Inc. (WM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPST achieves a 1.50% return, which is significantly higher than WM's 0.71% return.

JPST

• 1D: 0.02%
• 1M: 0.30%
• YTD: 1.50%
• 6M: 1.76%
• 1Y: 4.27%
• 3Y*: 5.19%
• 5Y*: 3.63%
• 10Y*: —

WM

• 1D: 0.30%
• 1M: 0.26%
• YTD: 0.71%
• 6M: 2.63%
• 1Y: -5.72%
• 3Y*: 12.33%
• 5Y*: 11.14%
• 10Y*: 15.36%

*Multi-year figures are annualized to reflect compound growth (CAGR)

JPST vs. WM - 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%
WM Waste Management, Inc.	0.71%	10.50%	14.28%	16.20%	-4.49%	43.82%	5.46%	30.45%	5.32%	23.65%

Correlation

The correlation between JPST and WM is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.03
Correlation (All Time) Calculated using the full available price history since May 19, 2017	0.04

Return for Risk

JPST vs. WM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JPST

JPST Risk / Return Rank: 99
JPST Sharpe Ratio Rank: 99
JPST Sortino Ratio Rank: 99
JPST Omega Ratio Rank: 99
JPST Calmar Ratio Rank: 99
JPST Martin Ratio Rank: 99

WM

WM Risk / Return Rank: 28
WM Sharpe Ratio Rank: 29
WM Sortino Ratio Rank: 25
WM Omega Ratio Rank: 25
WM Calmar Ratio Rank: 31
WM Martin Ratio Rank: 28

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JPST vs. WM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Ultra-Short Income ETF (JPST) and Waste Management, Inc. (WM). 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	WM	Difference
Sharpe ratio: Return per unit of total volatility	8.13	-0.32	+8.45
Sortino ratio: Return per unit of downside risk	17.82	-0.32	+18.14
Omega ratio: Gain probability vs. loss probability	3.97	0.96	+3.00
Calmar ratio: Return relative to maximum drawdown	29.02	-0.36	+29.38
Martin ratio: Return relative to average drawdown	142.45	-0.79	+143.24

JPST vs. WM - Sharpe Ratio Comparison

The current JPST Sharpe Ratio is 8.13, which is higher than the WM Sharpe Ratio of -0.32. The chart below compares the historical Sharpe Ratios of JPST and WM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JPST vs. WM - Drawdown Comparison

The maximum JPST drawdown since its inception was -3.28%, smaller than the maximum WM drawdown of -77.85%. Use the drawdown chart below to compare losses from any high point for JPST and WM.

Drawdown Indicators

	JPST	WM	Difference
Max Drawdown Largest peak-to-trough decline	-3.28%	-77.85%	+74.57%
Max Drawdown (1Y) Largest decline over 1 year	-0.15%	-16.70%	+16.55%
Max Drawdown (3Y) Largest decline over 3 years	-0.30%	-18.14%	+17.84%
Max Drawdown (5Y) Largest decline over 5 years	-0.79%	-18.14%	+17.35%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.07%	—
Current Drawdown Current decline from peak	0.00%	-10.24%	+10.24%
Average Drawdown Average peak-to-trough decline	-0.08%	-17.69%	+17.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	7.58%	-7.55%

Volatility

JPST vs. WM - Volatility Comparison

The current volatility for JPMorgan Ultra-Short Income ETF (JPST) is 0.16%, while Waste Management, Inc. (WM) has a volatility of 6.13%. This indicates that JPST experiences smaller price fluctuations and is considered to be less risky than WM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPST	WM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.16%	6.13%	-5.97%
Volatility (6M) Calculated over the trailing 6-month period	0.36%	14.08%	-13.72%
Volatility (1Y) Calculated over the trailing 1-year period	0.53%	19.03%	-18.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.58%	18.62%	-18.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.93%	19.54%	-18.61%

Dividends

JPST vs. WM - Dividend Comparison

JPST's dividend yield for the trailing twelve months is around 4.25%, more than WM's 1.61% 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%
WM Waste Management, Inc.	1.61%	1.50%	1.49%	1.56%	1.66%	1.38%	1.85%	1.80%	2.09%	1.97%	2.31%	2.89%

Frequently Asked Questions

Can I hold both JPST and WM in my portfolio?

JPST and WM have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPST or WM?

WM has higher volatility (6.13%) compared to JPST (0.16%). In terms of maximum drawdown, JPST dropped -3.28% vs WM's -77.85%.

Which has better risk-adjusted returns?

JPST currently has the higher Sharpe Ratio (8.13 vs -0.32), 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.