JSET.L vs. JPAS.L
JSET.L (JPM EUR Ultra-Short Income Active UCITS ETF – EUR (acc)) and JPAS.L (JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc) are both Dividend funds. Both are actively managed. Over the past 5 years, JSET.L returned 1.84%/yr vs 4.11%/yr for JPAS.L. At a 0.49 correlation, their price movements are largely independent. JSET.L charges 0.08%/yr vs 0.18%/yr for JPAS.L.
Performance
JSET.L vs. JPAS.L - Performance Comparison
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Returns By Period
In the year-to-date period, JSET.L achieves a -1.70% return, which is significantly lower than JPAS.L's 1.52% 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*
- —
JPAS.L
- 1D
- -0.62%
- 1M
- -0.14%
- 6M
- 1.35%
- YTD
- 1.52%
- 1Y
- 3.51%
- 3Y*
- 4.11%
- 5Y*
- 4.11%
- 10Y*
- —
JSET.L vs. JPAS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% | -0.91% |
JPAS.L JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc | 1.52% | -2.07% | 7.27% | -0.71% | 13.13% | 1.38% | -1.17% | -22.44% |
Correlation
The correlation between JSET.L and JPAS.L is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2019 | 0.49 |
The correlation between JSET.L and JPAS.L shifts across timeframes, from 0.32 (3 years) to 0.49 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
JSET.L vs. JPAS.L — Risk / Return Rank
JSET.L
JPAS.L
JSET.L vs. JPAS.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 JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc (JPAS.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 | JPAS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.10 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 0.80 | -0.83 |
| Martin ratioReturn relative to average drawdown | -0.08 | 2.05 | -2.13 |
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Drawdowns
JSET.L vs. JPAS.L - Drawdown Comparison
The maximum JSET.L drawdown since its inception was -18.28%, smaller than the maximum JPAS.L drawdown of -26.18%. Use the drawdown chart below to compare losses from any high point for JSET.L and JPAS.L.
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Drawdown Indicators
| JSET.L | JPAS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.28% | -26.18% | +7.90% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | -4.36% | +1.66% |
Max Drawdown (3Y)Largest decline over 3 years | -14.03% | -9.32% | -4.71% |
Max Drawdown (5Y)Largest decline over 5 years | -14.03% | -15.31% | +1.28% |
Current DrawdownCurrent decline from peak | -7.86% | -6.97% | -0.89% |
Average DrawdownAverage peak-to-trough decline | -12.12% | -14.97% | +2.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 1.71% | -0.66% |
Volatility
JSET.L vs. JPAS.L - Volatility Comparison
The current volatility for JPM EUR Ultra-Short Income Active UCITS ETF – EUR (acc) (JSET.L) is 1.01%, while JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc (JPAS.L) has a volatility of 1.77%. This indicates that JSET.L experiences smaller price fluctuations and is considered to be less risky than JPAS.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 | JPAS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 1.77% | -0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 4.71% | -1.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.98% | 6.37% | -2.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.13% | 8.32% | +1.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.08% | 12.24% | -2.16% |
JSET.L vs. JPAS.L - Expense Ratio Comparison
JSET.L has a 0.08% expense ratio, which is lower than JPAS.L's 0.18% 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. JPAS.L - Dividend Comparison
Neither JSET.L nor JPAS.L has paid dividends to shareholders.
Frequently Asked Questions
JSET.L and JPAS.L have a correlation of 0.33, 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 0.18% for JPAS.L.
They also come from different issuers: ETF Issuer and JPMorgan. Their fees differ too: 0.08% for JSET.L and 0.18% for JPAS.L.
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