LMBS vs. JPST

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust Low Duration Mortgage Opportunities ETF (LMBS) and JPMorgan Ultra-Short Income ETF (JPST).

LMBS and JPST are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LMBS is an actively managed fund by First Trust. It was launched on Nov 4, 2014. JPST is an actively managed fund by JPMorgan. It was launched on May 17, 2017.

Performance

LMBS vs. JPST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Low Duration Mortgage Opportunities ETF (LMBS) and JPMorgan Ultra-Short Income ETF (JPST). The values are adjusted to include any dividend payments, if applicable.

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	0.66%	7.05%	5.15%	6.10%	-3.07%	-0.91%	1.64%	4.10%	1.62%	0.73%
JPST JPMorgan Ultra-Short Income ETF	0.71%	4.99%	5.58%	5.13%	1.14%	0.11%	2.18%	3.34%	2.23%	1.00%

Returns By Period

In the year-to-date period, LMBS achieves a 0.66% return, which is significantly lower than JPST's 0.71% return.

LMBS

• 1D: 0.22%
• 1M: -0.91%
• YTD: 0.66%
• 6M: 2.10%
• 1Y: 5.57%
• 3Y*: 5.69%
• 5Y*: 2.95%
• 10Y*: 2.84%

JPST

• 1D: 0.08%
• 1M: 0.03%
• YTD: 0.71%
• 6M: 1.89%
• 1Y: 4.41%
• 3Y*: 5.12%
• 5Y*: 3.50%
• 10Y*: —

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

LMBS vs. JPST - Expense Ratio Comparison

LMBS has a 0.68% expense ratio, which is higher than JPST's 0.18% expense ratio.

LMBS

First Trust Low Duration Mortgage Opportunities ETF

JPST

JPMorgan Ultra-Short Income ETF

Return for Risk

LMBS vs. JPST — Risk / Return Rank

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

LMBS

LMBS Risk / Return Rank: 93
LMBS Sharpe Ratio Rank: 93
LMBS Sortino Ratio Rank: 94
LMBS Omega Ratio Rank: 95
LMBS Calmar Ratio Rank: 92
LMBS Martin Ratio Rank: 94

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

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.

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 ratio Return per unit of total volatility	2.18	7.27	-5.09
Sortino ratio Return per unit of downside risk	2.91	13.92	-11.01
Omega ratio Gain probability vs. loss probability	1.47	3.41	-1.95
Calmar ratio Return relative to maximum drawdown	3.25	14.93	-11.68
Martin ratio Return relative to average drawdown	13.96	94.51	-80.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LMBS vs. JPST - Sharpe Ratio Comparison

The current LMBS Sharpe Ratio is 2.18, which is lower than the JPST Sharpe Ratio of 7.27. The chart below compares the historical Sharpe Ratios of LMBS and JPST, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	LMBS	JPST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	7.27	-5.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.16	6.16	-4.99
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.20	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.13	3.16	-2.03

Correlation

The correlation between LMBS and JPST is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

LMBS vs. JPST - Dividend Comparison

LMBS's dividend yield for the trailing twelve months is around 4.10%, less than JPST's 4.36% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
JPST JPMorgan Ultra-Short Income ETF	4.36%	4.43%	5.16%	4.79%	1.83%	0.73%	1.43%	2.69%	2.07%	0.96%	0.00%	0.00%

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.

Drawdown Indicators

	LMBS	JPST	Difference
Max Drawdown Largest peak-to-trough decline	-6.49%	-3.28%	-3.21%
Max Drawdown (1Y) Largest decline over 1 year	-1.72%	-0.30%	-1.42%
Max Drawdown (5Y) Largest decline over 5 years	-6.16%	-0.79%	-5.37%
Max Drawdown (10Y) Largest decline over 10 years	-6.49%	—	—
Current Drawdown Current decline from peak	-0.91%	0.00%	-0.91%
Average Drawdown Average peak-to-trough decline	-0.81%	-0.08%	-0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	0.05%	+0.35%

Volatility

LMBS vs. JPST - Volatility Comparison

First Trust Low Duration Mortgage Opportunities ETF (LMBS) has a higher volatility of 0.88% compared to JPMorgan Ultra-Short Income ETF (JPST) at 0.22%. 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.

Volatility by Period

	LMBS	JPST	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.88%	0.22%	+0.66%
Volatility (6M) Calculated over the trailing 6-month period	1.37%	0.35%	+1.02%
Volatility (1Y) Calculated over the trailing 1-year period	2.57%	0.61%	+1.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.55%	0.57%	+1.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.38%	0.94%	+1.44%