NTBIX vs. JPST

Last updated Jun 3, 2026

NTBIX (Navigator Tactical Fixed Income Fund) and JPST (JPMorgan Ultra-Short Income ETF) are both funds - NTBIX is a Nontraditional Bonds fund managed by Navigator Funds, while JPST is a Ultrashort Bond fund actively managed by JPMorgan. Over the past 5 years, NTBIX returned 2.95%/yr vs 3.61%/yr for JPST. At a 0.21 correlation, their price movements are largely independent. NTBIX charges 0.95%/yr vs 0.18%/yr for JPST.

Performance

NTBIX vs. JPST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Navigator Tactical Fixed Income Fund (NTBIX) 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, NTBIX achieves a 1.58% return, which is significantly higher than JPST's 1.40% return.

NTBIX

• 1D: 0.00%
• 1M: 0.41%
• YTD: 1.58%
• 6M: 1.98%
• 1Y: 6.77%
• 3Y*: 5.80%
• 5Y*: 2.95%
• 10Y*: 4.41%

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)

NTBIX vs. JPST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NTBIX Navigator Tactical Fixed Income Fund	1.58%	2.98%	7.67%	10.57%	-8.71%	4.28%	8.96%	7.82%	0.15%	0.12%
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 NTBIX and JPST is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (All Time) Calculated using the full available price history since May 22, 2017	0.21

Over the past year, NTBIX and JPST have become more correlated (0.43) than their long-term average of 0.21, meaning their price movements have been converging.

Return for Risk

NTBIX vs. JPST — Risk / Return Rank

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

NTBIX

NTBIX Risk / Return Rank: 79
NTBIX Sharpe Ratio Rank: 74
NTBIX Sortino Ratio Rank: 83
NTBIX Omega Ratio Rank: 83
NTBIX Calmar Ratio Rank: 73
NTBIX Martin Ratio Rank: 84

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.

NTBIX vs. JPST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Navigator Tactical Fixed Income Fund (NTBIX) 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.

	NTBIX	JPST	Difference
Sharpe ratio Return per unit of total volatility	2.50	8.09	-5.60
Sortino ratio Return per unit of downside risk	3.95	17.60	-13.65
Omega ratio Gain probability vs. loss probability	1.55	3.94	-2.39
Calmar ratio Return relative to maximum drawdown	3.34	29.16	-25.82
Martin ratio Return relative to average drawdown	15.99	144.13	-128.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NTBIX vs. JPST - Sharpe Ratio Comparison

The current NTBIX Sharpe Ratio is 2.50, which is lower than the JPST Sharpe Ratio of 8.09. The chart below compares the historical Sharpe Ratios of NTBIX 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

	NTBIX	JPST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.50	8.09	-5.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	6.32	-5.69
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.87	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.94	3.20	-2.26

Drawdowns

NTBIX vs. JPST - Drawdown Comparison

The maximum NTBIX drawdown since its inception was -11.44%, which is greater than JPST's maximum drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for NTBIX and JPST.

Drawdown Indicators

	NTBIX	JPST	Difference
Max Drawdown Largest peak-to-trough decline	-11.44%	-3.28%	-8.16%
Max Drawdown (1Y) Largest decline over 1 year	-2.06%	-0.15%	-1.91%
Max Drawdown (3Y) Largest decline over 3 years	-5.39%	-0.30%	-5.09%
Max Drawdown (5Y) Largest decline over 5 years	-11.44%	-0.79%	-10.65%
Max Drawdown (10Y) Largest decline over 10 years	-11.44%	—	—
Current Drawdown Current decline from peak	0.00%	-0.02%	+0.02%
Average Drawdown Average peak-to-trough decline	-1.77%	-0.08%	-1.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.43%	0.03%	+0.40%

Volatility

NTBIX vs. JPST - Volatility Comparison

Navigator Tactical Fixed Income Fund (NTBIX) has a higher volatility of 0.89% compared to JPMorgan Ultra-Short Income ETF (JPST) at 0.15%. This indicates that NTBIX'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

	NTBIX	JPST	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.89%	0.15%	+0.74%
Volatility (6M) Calculated over the trailing 6-month period	2.19%	0.36%	+1.83%
Volatility (1Y) Calculated over the trailing 1-year period	2.77%	0.54%	+2.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.75%	0.58%	+4.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.07%	0.93%	+4.14%

NTBIX vs. JPST - Expense Ratio Comparison

NTBIX has a 0.95% expense ratio, which is higher than JPST's 0.18% expense ratio.

Dividends

NTBIX vs. JPST - Dividend Comparison

NTBIX's dividend yield for the trailing twelve months is around 4.54%, more 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%
NTBIX Navigator Tactical Fixed Income Fund	4.54%	5.02%	6.33%	5.49%	2.37%	6.72%	5.68%	2.36%	3.01%	4.35%	6.20%	2.61%

Frequently Asked Questions

Can I hold both NTBIX and JPST in my portfolio?

NTBIX and JPST have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NTBIX or JPST?

NTBIX has higher volatility (0.89%) compared to JPST (0.15%). In terms of maximum drawdown, NTBIX dropped -11.44% vs JPST's -3.28%.

Which has better risk-adjusted returns?

JPST currently has the higher Sharpe Ratio (8.09 vs 2.50), 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.