LMBS vs. JPST
LMBS (First Trust Low Duration Mortgage Opportunities ETF) and JPST (JPMorgan Ultra-Short Income ETF) are both exchange-traded funds - LMBS is a Mortgage Backed Securities fund actively managed by First Trust, while JPST is a Ultrashort Bond fund actively managed by JPMorgan. Both are actively managed. Over the past 5 years, LMBS returned 3.03%/yr vs 3.61%/yr for JPST. At a 0.33 correlation, their price movements are largely independent. LMBS charges 0.68%/yr vs 0.18%/yr for JPST.
Performance
LMBS vs. JPST - Performance Comparison
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Returns By Period
In the year-to-date period, LMBS achieves a 1.24% return, which is significantly lower than JPST's 1.40% return.
LMBS
- 1D
- -0.10%
- 1M
- 0.11%
- YTD
- 1.24%
- 6M
- 1.47%
- 1Y
- 6.09%
- 3Y*
- 5.73%
- 5Y*
- 3.03%
- 10Y*
- 2.67%
JPST
- 1D
- 0.00%
- 1M
- 0.35%
- YTD
- 1.40%
- 6M
- 1.74%
- 1Y
- 4.31%
- 3Y*
- 5.16%
- 5Y*
- 3.61%
- 10Y*
- —
LMBS vs. JPST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LMBS First Trust Low Duration Mortgage Opportunities ETF | 1.24% | 7.05% | 5.15% | 6.10% | -3.07% | -0.91% | 1.64% | 4.10% | 1.62% | 0.73% |
JPST JPMorgan Ultra-Short Income ETF | 1.40% | 4.99% | 5.58% | 5.13% | 1.14% | 0.11% | 2.18% | 3.34% | 2.23% | 1.00% |
Correlation
The correlation between LMBS and JPST is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since May 22, 2017 | 0.33 |
The correlation between LMBS and JPST shifts across timeframes, from 0.33 (all time) to 0.51 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
LMBS vs. JPST — Risk / Return Rank
LMBS
JPST
LMBS vs. JPST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Low Duration Mortgage Opportunities ETF (LMBS) and JPMorgan Ultra-Short Income ETF (JPST). 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.
| LMBS | JPST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.99 | ||
| Sortino ratioReturn per unit of downside risk | -12.81 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 3.94 | -2.32 |
| Calmar ratioReturn relative to maximum drawdown | 4.28 | 29.16 | -24.88 |
| Martin ratioReturn relative to average drawdown | 18.25 | 144.13 | -125.88 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| LMBS | JPST | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.10 | 8.09 | -4.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.19 | 6.32 | -5.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.14 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.13 | 3.20 | -2.07 |
Drawdowns
LMBS vs. JPST - Drawdown Comparison
The maximum LMBS drawdown since its inception was -6.49%, which is greater than JPST's maximum drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for LMBS and JPST.
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Drawdown Indicators
| LMBS | JPST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.49% | -3.28% | -3.21% |
Max Drawdown (1Y)Largest decline over 1 year | -1.43% | -0.15% | -1.28% |
Max Drawdown (3Y)Largest decline over 3 years | -1.72% | -0.30% | -1.42% |
Max Drawdown (5Y)Largest decline over 5 years | -6.12% | -0.79% | -5.33% |
Max Drawdown (10Y)Largest decline over 10 years | -6.49% | — | — |
Current DrawdownCurrent decline from peak | -0.34% | -0.02% | -0.32% |
Average DrawdownAverage peak-to-trough decline | -0.80% | -0.08% | -0.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.33% | 0.03% | +0.30% |
Volatility
LMBS vs. JPST - Volatility Comparison
First Trust Low Duration Mortgage Opportunities ETF (LMBS) has a higher volatility of 0.68% compared to JPMorgan Ultra-Short Income ETF (JPST) at 0.15%. This indicates that LMBS's price experiences larger fluctuations and is considered to be riskier than JPST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LMBS | JPST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 0.15% | +0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 1.45% | 0.36% | +1.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.97% | 0.54% | +1.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.56% | 0.58% | +1.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.36% | 0.93% | +1.43% |
LMBS vs. JPST - Expense Ratio Comparison
LMBS has a 0.68% expense ratio, which is higher than JPST's 0.18% expense ratio.
Dividends
LMBS vs. JPST - Dividend Comparison
LMBS's dividend yield for the trailing twelve months is around 4.10%, less than JPST's 4.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JPST JPMorgan Ultra-Short Income ETF | 4.26% | 4.43% | 5.16% | 4.79% | 1.83% | 0.73% | 1.43% | 2.69% | 2.07% | 0.96% | 0.00% | 0.00% |
LMBS First Trust Low Duration Mortgage Opportunities ETF | 4.10% | 4.08% | 4.28% | 3.96% | 2.22% | 2.04% | 2.27% | 2.55% | 2.76% | 2.73% | 2.84% | 3.03% |
Frequently Asked Questions
LMBS and JPST have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LMBS has higher volatility (0.68%) compared to JPST (0.15%). In terms of maximum drawdown, LMBS dropped -6.49% vs JPST's -3.28%.
On 5-year performance, JPST leads with 3.61% vs 3.03% for LMBS. On fees, JPST is cheaper at 0.18% per year. On volatility, JPST has been the lower-risk option at 0.15%. 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 3.61% return vs 3.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JPST is cheaper with a 0.18% expense ratio, compared with 0.68% for LMBS.
JPST has the higher dividend yield at 4.26%, compared with 4.10% for LMBS.
LMBS is categorized as Mortgage Backed Securities, while JPST is Ultrashort Bond. They also come from different issuers: First Trust and JPMorgan. Their fees differ too: 0.68% for LMBS and 0.18% for JPST.
JPST currently has the higher Sharpe Ratio (8.09 vs 3.10), 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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