NGVC vs. JPST

Last updated Jun 4, 2026

NGVC (Natural Grocers by Vitamin Cottage, Inc.) is a stock, while JPST (JPMorgan Ultra-Short Income ETF) is Ultrashort Bond fund actively managed by JPMorgan. Over the past 5 years, NGVC returned 24.76%/yr vs 3.61%/yr for JPST. At a correlation of -0.02, they often move in opposite directions.

Performance

NGVC vs. JPST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Natural Grocers by Vitamin Cottage, Inc. (NGVC) and JPMorgan Ultra-Short Income ETF (JPST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NGVC achieves a 15.46% return, which is significantly higher than JPST's 1.40% return.

NGVC

• 1D: -1.68%
• 1M: -0.10%
• YTD: 15.46%
• 6M: 6.41%
• 1Y: -36.97%
• 3Y*: 44.78%
• 5Y*: 24.76%
• 10Y*: 11.73%

JPST

• 1D: 0.00%
• 1M: 0.35%
• YTD: 1.40%
• 6M: 1.74%
• 1Y: 4.31%
• 3Y*: 5.16%
• 5Y*: 3.61%
• 10Y*: —

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

NGVC vs. JPST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NGVC Natural Grocers by Vitamin Cottage, Inc.	15.46%	-36.07%	152.51%	91.83%	-34.02%	6.24%	62.34%	-35.12%	71.67%	-5.60%
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 NGVC and JPST is 0.03, 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	0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	-0.00
Correlation (All Time) Calculated using the full available price history since May 22, 2017	-0.02

Return for Risk

NGVC vs. JPST — Risk / Return Rank

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

NGVC

NGVC Risk / Return Rank: 10
NGVC Sharpe Ratio Rank: 6
NGVC Sortino Ratio Rank: 8
NGVC Omega Ratio Rank: 10
NGVC Calmar Ratio Rank: 11
NGVC Martin Ratio Rank: 15

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.

NGVC vs. JPST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Natural Grocers by Vitamin Cottage, Inc. (NGVC) 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.

	NGVC	JPST	Difference
Sharpe ratio: Return per unit of total volatility	-0.90	8.09	-8.99
Sortino ratio: Return per unit of downside risk	-1.20	17.60	-18.80
Omega ratio: Gain probability vs. loss probability	0.86	3.94	-3.08
Calmar ratio: Return relative to maximum drawdown	-0.78	29.16	-29.94
Martin ratio: Return relative to average drawdown	-1.16	144.13	-145.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NGVC vs. JPST - Sharpe Ratio Comparison

The current NGVC Sharpe Ratio is -0.90, which is lower than the JPST Sharpe Ratio of 8.09. The chart below compares the historical Sharpe Ratios of NGVC and JPST, 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

	NGVC	JPST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.90	8.09	-8.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	6.32	-5.80
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	3.20	-3.09

Drawdowns

NGVC vs. JPST - Drawdown Comparison

The maximum NGVC drawdown since its inception was -89.04%, which is greater than JPST's maximum drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for NGVC and JPST.

Drawdown Indicators

	NGVC	JPST	Difference
Max Drawdown Largest peak-to-trough decline	-89.04%	-3.28%	-85.76%
Max Drawdown (1Y) Largest decline over 1 year	-47.36%	-0.15%	-47.21%
Max Drawdown (3Y) Largest decline over 3 years	-59.87%	-0.30%	-59.57%
Max Drawdown (5Y) Largest decline over 5 years	-63.34%	-0.79%	-62.55%
Max Drawdown (10Y) Largest decline over 10 years	-73.77%	—	—
Current Drawdown Current decline from peak	-51.05%	-0.02%	-51.03%
Average Drawdown Average peak-to-trough decline	-52.58%	-0.08%	-52.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.91%	0.03%	+32.88%

Volatility

NGVC vs. JPST - Volatility Comparison

Natural Grocers by Vitamin Cottage, Inc. (NGVC) has a higher volatility of 12.78% compared to JPMorgan Ultra-Short Income ETF (JPST) at 0.15%. This indicates that NGVC'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

	NGVC	JPST	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.78%	0.15%	+12.63%
Volatility (6M) Calculated over the trailing 6-month period	25.24%	0.36%	+24.88%
Volatility (1Y) Calculated over the trailing 1-year period	41.36%	0.54%	+40.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.16%	0.58%	+47.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.56%	0.93%	+54.63%

Dividends

NGVC vs. JPST - Dividend Comparison

NGVC's dividend yield for the trailing twelve months is around 1.99%, less than JPST's 4.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
NGVC Natural Grocers by Vitamin Cottage, Inc.	1.99%	2.04%	1.06%	8.75%	4.38%	2.18%	16.59%	0.71%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NGVC and JPST in my portfolio?

NGVC and JPST have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NGVC or JPST?

NGVC has higher volatility (12.78%) compared to JPST (0.15%). In terms of maximum drawdown, NGVC dropped -89.04% vs JPST's -3.28%.

Which has better risk-adjusted returns?

JPST currently has the higher Sharpe Ratio (8.09 vs -0.90), 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.