OPER vs. JPST
OPER (ClearShares Ultra-Short Maturity ETF) and JPST (JPMorgan Ultra-Short Income ETF) are both Ultrashort Bond funds. OPER is passively managed, while JPST is actively managed. Over the past 5 years, OPER returned 3.65%/yr vs 3.61%/yr for JPST. At a 0.15 correlation, their price movements are largely independent. OPER charges 0.20%/yr vs 0.18%/yr for JPST.
Performance
OPER vs. JPST - Performance Comparison
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Returns By Period
In the year-to-date period, OPER achieves a 1.55% return, which is significantly higher than JPST's 1.40% return.
OPER
- 1D
- 0.01%
- 1M
- 0.34%
- YTD
- 1.55%
- 6M
- 1.88%
- 1Y
- 4.07%
- 3Y*
- 4.80%
- 5Y*
- 3.65%
- 10Y*
- —
JPST
- 1D
- 0.00%
- 1M
- 0.35%
- YTD
- 1.40%
- 6M
- 1.74%
- 1Y
- 4.31%
- 3Y*
- 5.16%
- 5Y*
- 3.61%
- 10Y*
- —
OPER vs. JPST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
OPER ClearShares Ultra-Short Maturity ETF | 1.55% | 4.37% | 5.34% | 5.09% | 1.76% | 0.37% | 0.65% | 2.15% | 0.90% |
JPST JPMorgan Ultra-Short Income ETF | 1.40% | 4.99% | 5.58% | 5.13% | 1.14% | 0.11% | 2.18% | 3.34% | 1.14% |
Correlation
The correlation between OPER and JPST is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2018 | 0.15 |
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Return for Risk
OPER vs. JPST — Risk / Return Rank
OPER
JPST
OPER vs. JPST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ClearShares Ultra-Short Maturity ETF (OPER) 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.
| OPER | JPST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.36 | ||
| Sortino ratioReturn per unit of downside risk | +26.30 | ||
| Omega ratioGain probability vs. loss probability | 13.38 | 3.94 | +9.44 |
| Calmar ratioReturn relative to maximum drawdown | 61.29 | 29.16 | +32.12 |
| Martin ratioReturn relative to average drawdown | 519.55 | 144.13 | +375.42 |
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
| OPER | JPST | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 15.45 | 8.09 | +7.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 11.47 | 6.32 | +5.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.28 | 3.20 | -0.92 |
Drawdowns
OPER vs. JPST - Drawdown Comparison
The maximum OPER drawdown since its inception was -2.33%, smaller than the maximum JPST drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for OPER and JPST.
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Drawdown Indicators
| OPER | JPST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.33% | -3.28% | +0.95% |
Max Drawdown (1Y)Largest decline over 1 year | -0.07% | -0.15% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -0.11% | -0.30% | +0.19% |
Max Drawdown (5Y)Largest decline over 5 years | -0.13% | -0.79% | +0.66% |
Current DrawdownCurrent decline from peak | 0.00% | -0.02% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -0.08% | -0.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.03% | -0.02% |
Volatility
OPER vs. JPST - Volatility Comparison
The current volatility for ClearShares Ultra-Short Maturity ETF (OPER) is 0.10%, while JPMorgan Ultra-Short Income ETF (JPST) has a volatility of 0.15%. This indicates that OPER experiences smaller price fluctuations and is considered to be less risky 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
| OPER | JPST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.10% | 0.15% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 0.20% | 0.36% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.26% | 0.54% | -0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.32% | 0.58% | -0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.23% | 0.93% | +0.30% |
OPER vs. JPST - Expense Ratio Comparison
OPER has a 0.20% expense ratio, which is higher than JPST's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
OPER vs. JPST - Dividend Comparison
OPER's dividend yield for the trailing twelve months is around 4.09%, 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% |
OPER ClearShares Ultra-Short Maturity ETF | 4.09% | 4.32% | 5.21% | 5.03% | 1.71% | 0.36% | 0.64% | 2.08% | 0.89% | 0.00% |
Frequently Asked Questions
OPER and JPST have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JPST has higher volatility (0.15%) compared to OPER (0.10%). In terms of maximum drawdown, OPER dropped -2.33% vs JPST's -3.28%.
On 5-year performance, OPER leads with 3.65% vs 3.61% for JPST. On fees, JPST is cheaper at 0.18% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, OPER has performed better with a 3.65% return vs 3.61%. 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 0.20% for OPER.
JPST has the higher dividend yield at 4.26%, compared with 4.09% for OPER.
They also come from different issuers: ClearShares and JPMorgan. Their fees differ too: 0.20% for OPER and 0.18% for JPST.
OPER currently has the higher Sharpe Ratio (15.45 vs 8.09), 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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