JPUS vs. BALI

Last updated Jun 4, 2026

JPUS (JPMorgan Diversified Return US Equity ETF) and BALI (Blackrock Advantage Large Cap Income ETF) are both exchange-traded funds - JPUS is a Large Cap Blend Equities fund tracking the JPMorgan Diversified Factor US Equity Index, while BALI is a Derivative Income fund actively managed by BlackRock. JPUS is passively managed, while BALI is actively managed. Over the past year, JPUS returned 20.73% vs 26.38% for BALI. A 0.71 correlation means they provide meaningful diversification when combined. JPUS charges 0.18%/yr vs 0.35%/yr for BALI.

Performance

JPUS vs. BALI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Diversified Return US Equity ETF (JPUS) and Blackrock Advantage Large Cap Income ETF (BALI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with JPUS having a 11.55% return and BALI slightly lower at 11.22%.

JPUS

• 1D: 0.04%
• 1M: 1.45%
• YTD: 11.55%
• 6M: 11.59%
• 1Y: 20.73%
• 3Y*: 15.97%
• 5Y*: 9.40%
• 10Y*: 11.49%

BALI

• 1D: -0.41%
• 1M: 4.44%
• YTD: 11.22%
• 6M: 11.78%
• 1Y: 26.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JPUS vs. BALI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JPUS JPMorgan Diversified Return US Equity ETF	11.55%	11.18%	13.48%	9.82%
BALI Blackrock Advantage Large Cap Income ETF	11.22%	14.51%	22.38%	9.52%

Correlation

The correlation between JPUS and BALI is 0.63, 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	0.63
Correlation (All Time) Calculated using the full available price history since Sep 29, 2023	0.71

The correlation between JPUS and BALI has been stable across timeframes, ranging from 0.63 to 0.71 - a consistent structural relationship.

JPUS vs. BALI - Sectors Allocation Comparison

Sectors	JPUS	BALI
Technology	11.6%	35.0%
Healthcare	11.5%	9.4%
Consumer Defensive	11.3%	6.1%
Real Estate	10.5%	0.9%
Industrials	10.4%	8.0%
Utilities	9.5%	1.9%
Consumer Cyclical	8.6%	10.2%
Financial Services	8.0%	9.0%
Energy	7.3%	4.3%
Basic Materials	6.8%	1.4%
Communication Services	4.5%	10.6%

Return for Risk

JPUS vs. BALI — Risk / Return Rank

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

JPUS

JPUS Risk / Return Rank: 60
JPUS Sharpe Ratio Rank: 59
JPUS Sortino Ratio Rank: 61
JPUS Omega Ratio Rank: 56
JPUS Calmar Ratio Rank: 60
JPUS Martin Ratio Rank: 66

BALI

BALI Risk / Return Rank: 82
BALI Sharpe Ratio Rank: 81
BALI Sortino Ratio Rank: 81
BALI Omega Ratio Rank: 81
BALI Calmar Ratio Rank: 77
BALI Martin Ratio Rank: 88

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.

JPUS vs. BALI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Diversified Return US Equity ETF (JPUS) and Blackrock Advantage Large Cap Income ETF (BALI). 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.

	JPUS	BALI	Difference
Sharpe ratio: Return per unit of total volatility	2.00	2.67	-0.67
Sortino ratio: Return per unit of downside risk	2.90	3.72	-0.83
Omega ratio: Gain probability vs. loss probability	1.35	1.50	-0.15
Calmar ratio: Return relative to maximum drawdown	3.02	3.95	-0.93
Martin ratio: Return relative to average drawdown	12.12	19.71	-7.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPUS vs. BALI - Sharpe Ratio Comparison

The current JPUS Sharpe Ratio is 2.00, which is comparable to the BALI Sharpe Ratio of 2.67. The chart below compares the historical Sharpe Ratios of JPUS and BALI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JPUS	BALI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	2.67	-0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	1.72	-1.00

Drawdowns

JPUS vs. BALI - Drawdown Comparison

The maximum JPUS drawdown since its inception was -38.69%, which is greater than BALI's maximum drawdown of -16.65%. Use the drawdown chart below to compare losses from any high point for JPUS and BALI.

Drawdown Indicators

	JPUS	BALI	Difference
Max Drawdown Largest peak-to-trough decline	-38.69%	-16.65%	-22.04%
Max Drawdown (1Y) Largest decline over 1 year	-6.90%	-6.71%	-0.19%
Max Drawdown (3Y) Largest decline over 3 years	-15.96%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.04%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.69%	—	—
Current Drawdown Current decline from peak	-0.01%	-0.41%	+0.40%
Average Drawdown Average peak-to-trough decline	-3.83%	-1.63%	-2.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	1.34%	+0.38%

Volatility

JPUS vs. BALI - Volatility Comparison

JPMorgan Diversified Return US Equity ETF (JPUS) has a higher volatility of 2.90% compared to Blackrock Advantage Large Cap Income ETF (BALI) at 1.95%. This indicates that JPUS's price experiences larger fluctuations and is considered to be riskier than BALI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPUS	BALI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.90%	1.95%	+0.95%
Volatility (6M) Calculated over the trailing 6-month period	7.58%	7.47%	+0.11%
Volatility (1Y) Calculated over the trailing 1-year period	10.41%	9.91%	+0.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.50%	12.93%	+1.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.76%	12.93%	+3.83%

JPUS vs. BALI - Expense Ratio Comparison

JPUS has a 0.18% expense ratio, which is lower than BALI's 0.35% expense ratio.

Dividends

JPUS vs. BALI - Dividend Comparison

JPUS's dividend yield for the trailing twelve months is around 2.04%, less than BALI's 7.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BALI Blackrock Advantage Large Cap Income ETF	7.66%	8.51%	7.13%	2.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JPUS JPMorgan Diversified Return US Equity ETF	2.04%	2.27%	2.12%	2.26%	2.35%	1.67%	1.94%	2.09%	2.16%	1.25%	0.77%	0.48%

Frequently Asked Questions

Can I hold both JPUS and BALI in my portfolio?

JPUS and BALI have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPUS or BALI?

JPUS has higher volatility (2.90%) compared to BALI (1.95%). In terms of maximum drawdown, JPUS dropped -38.69% vs BALI's -16.65%.

Which ETF is better, JPUS or BALI?

On 1-year performance, BALI leads with 26.38% vs 20.73% for JPUS. On fees, JPUS is cheaper at 0.18% per year. On volatility, BALI has been the lower-risk option at 1.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPUS or BALI?

Over the 1-year period, BALI has performed better with a 26.38% return vs 20.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPUS or BALI?

JPUS is cheaper with a 0.18% expense ratio, compared with 0.35% for BALI.

Which ETF pays a higher dividend yield, JPUS or BALI?

BALI has the higher dividend yield at 7.66%, compared with 2.04% for JPUS.

What is the main difference between JPUS and BALI?

JPUS is categorized as Large Cap Blend Equities, while BALI is Derivative Income. They also come from different issuers: JPMorgan and BlackRock. Their fees differ too: 0.18% for JPUS and 0.35% for BALI.

Which has better risk-adjusted returns?

BALI currently has the higher Sharpe Ratio (2.67 vs 2.00), 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.