JSET.L vs. FUSD.L
JSET.L (JPM EUR Ultra-Short Income Active UCITS ETF – EUR (acc)) and FUSD.L (Fidelity US Quality Income UCITS ETF Income USD Shares) are both Dividend funds. JSET.L is actively managed, while FUSD.L is passively managed. Over the past 5 years, JSET.L returned 1.84%/yr vs 12.43%/yr for FUSD.L. At a 0.08 correlation, their price movements are largely independent. JSET.L charges 0.08%/yr vs 0.25%/yr for FUSD.L.
Performance
JSET.L vs. FUSD.L - Performance Comparison
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Different Trading Currencies
JSET.L is traded in GBP, while FUSD.L is traded in USD. To make them comparable, the FUSD.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, JSET.L achieves a -1.70% return, which is significantly lower than FUSD.L's 9.33% return.
JSET.L
- 1D
- -0.70%
- 1M
- -1.59%
- 6M
- -1.17%
- YTD
- -1.70%
- 1Y
- -0.09%
- 3Y*
- 2.93%
- 5Y*
- 1.84%
- 10Y*
- —
FUSD.L
- 1D
- -0.60%
- 1M
- 0.16%
- 6M
- 8.76%
- YTD
- 9.33%
- 1Y
- 19.61%
- 3Y*
- 16.00%
- 5Y*
- 12.43%
- 10Y*
- —
JSET.L vs. FUSD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
JSET.L JPM EUR Ultra-Short Income Active UCITS ETF – EUR (acc) | -1.70% | 7.88% | -0.75% | 1.33% | 5.03% | -6.82% | 5.33% | -4.77% | -10.78% |
FUSD.L Fidelity US Quality Income UCITS ETF Income USD Shares | 9.33% | 8.17% | 20.85% | 12.55% | 0.06% | 27.38% | 8.55% | 26.49% | -1.39% |
Correlation
The correlation between JSET.L and FUSD.L is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jun 6, 2018 | 0.08 |
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Return for Risk
JSET.L vs. FUSD.L — Risk / Return Rank
JSET.L
FUSD.L
JSET.L vs. FUSD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPM EUR Ultra-Short Income Active UCITS ETF – EUR (acc) (JSET.L) and Fidelity US Quality Income UCITS ETF Income USD Shares (FUSD.L). 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.
| JSET.L | FUSD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.81 | ||
| Sortino ratioReturn per unit of downside risk | -2.57 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.32 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 3.48 | -3.51 |
| Martin ratioReturn relative to average drawdown | -0.08 | 13.02 | -13.10 |
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Drawdowns
JSET.L vs. FUSD.L - Drawdown Comparison
The maximum JSET.L drawdown since its inception was -18.28%, smaller than the maximum FUSD.L drawdown of -28.01%. Use the drawdown chart below to compare losses from any high point for JSET.L and FUSD.L.
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Drawdown Indicators
| JSET.L | FUSD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.28% | -28.01% | +9.73% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | -5.61% | +2.91% |
Max Drawdown (3Y)Largest decline over 3 years | -14.03% | -19.48% | +5.45% |
Max Drawdown (5Y)Largest decline over 5 years | -14.03% | -19.48% | +5.45% |
Current DrawdownCurrent decline from peak | -7.86% | -1.05% | -6.81% |
Average DrawdownAverage peak-to-trough decline | -12.12% | -3.29% | -8.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 1.50% | -0.45% |
Volatility
JSET.L vs. FUSD.L - Volatility Comparison
The current volatility for JPM EUR Ultra-Short Income Active UCITS ETF – EUR (acc) (JSET.L) is 1.01%, while Fidelity US Quality Income UCITS ETF Income USD Shares (FUSD.L) has a volatility of 2.67%. This indicates that JSET.L experiences smaller price fluctuations and is considered to be less risky than FUSD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JSET.L | FUSD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 2.67% | -1.66% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 8.43% | -5.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.98% | 10.94% | -6.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.13% | 14.20% | -4.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.08% | 15.59% | -5.51% |
JSET.L vs. FUSD.L - Expense Ratio Comparison
JSET.L has a 0.08% expense ratio, which is lower than FUSD.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
JSET.L vs. FUSD.L - Dividend Comparison
JSET.L has not paid dividends to shareholders, while FUSD.L's dividend yield for the trailing twelve months is around 1.40%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FUSD.L Fidelity US Quality Income UCITS ETF Income USD Shares | 1.40% | 1.47% | 2.79% | 2.10% | 2.31% | 2.30% | 2.30% | 1.95% | 2.19% | 1.24% |
JSET.L JPM EUR Ultra-Short Income Active UCITS ETF – EUR (acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JSET.L and FUSD.L have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JSET.L is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JSET.L is cheaper with a 0.08% expense ratio, compared with 0.25% for FUSD.L.
They also come from different issuers: ETF Issuer and Fidelity. Their fees differ too: 0.08% for JSET.L and 0.25% for FUSD.L.
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