OUSM vs. JPST

Last updated Apr 1, 2026

Compare and contrast key facts about OShares U.S. Small-Cap Quality Dividend ETF (OUSM) and JPMorgan Ultra-Short Income ETF (JPST).

OUSM and JPST are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. OUSM is a passively managed fund by O'Shares Investments that tracks the performance of the O'Shares US Small-Cap Quality Dividend Index. It was launched on Dec 30, 2016. JPST is an actively managed fund by JPMorgan. It was launched on May 17, 2017.

Performance

OUSM vs. JPST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in OShares U.S. Small-Cap Quality Dividend ETF (OUSM) and JPMorgan Ultra-Short Income ETF (JPST). The values are adjusted to include any dividend payments, if applicable.

OUSM vs. JPST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OUSM OShares U.S. Small-Cap Quality Dividend ETF	0.48%	2.17%	13.45%	18.82%	-7.89%	21.45%	7.64%	28.04%	-10.60%	9.51%
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, OUSM achieves a 0.48% return, which is significantly lower than JPST's 0.71% return.

OUSM

• 1D: 1.77%
• 1M: -5.83%
• YTD: 0.48%
• 6M: -1.18%
• 1Y: 6.34%
• 3Y*: 9.43%
• 5Y*: 6.87%
• 10Y*: —

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)

OUSM vs. JPST - Expense Ratio Comparison

OUSM has a 0.48% expense ratio, which is higher than JPST's 0.18% expense ratio.

OUSM

OShares U.S. Small-Cap Quality Dividend ETF

JPST

JPMorgan Ultra-Short Income ETF

Return for Risk

OUSM vs. JPST — Risk / Return Rank

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

OUSM

OUSM Risk / Return Rank: 24
OUSM Sharpe Ratio Rank: 24
OUSM Sortino Ratio Rank: 25
OUSM Omega Ratio Rank: 23
OUSM Calmar Ratio Rank: 26
OUSM Martin Ratio Rank: 25

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.

OUSM vs. JPST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for OShares U.S. Small-Cap Quality Dividend ETF (OUSM) 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.

	OUSM	JPST	Difference
Sharpe ratio Return per unit of total volatility	0.38	7.27	-6.89
Sortino ratio Return per unit of downside risk	0.68	13.92	-13.24
Omega ratio Gain probability vs. loss probability	1.08	3.41	-2.33
Calmar ratio Return relative to maximum drawdown	0.57	14.93	-14.36
Martin ratio Return relative to average drawdown	1.89	94.51	-92.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OUSM vs. JPST - Sharpe Ratio Comparison

The current OUSM Sharpe Ratio is 0.38, which is lower than the JPST Sharpe Ratio of 7.27. The chart below compares the historical Sharpe Ratios of OUSM 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

	OUSM	JPST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.38	7.27	-6.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	6.16	-5.73
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	3.16	-2.71

Correlation

The correlation between OUSM and JPST is 0.05, 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

OUSM vs. JPST - Dividend Comparison

OUSM's dividend yield for the trailing twelve months is around 2.14%, less than JPST's 4.36% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
OUSM OShares U.S. Small-Cap Quality Dividend ETF	2.14%	2.09%	1.62%	1.64%	1.98%	1.55%	2.02%	1.99%	2.63%	2.17%
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%

Drawdowns

OUSM vs. JPST - Drawdown Comparison

The maximum OUSM drawdown since its inception was -39.84%, which is greater than JPST's maximum drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for OUSM and JPST.

Drawdown Indicators

	OUSM	JPST	Difference
Max Drawdown Largest peak-to-trough decline	-39.84%	-3.28%	-36.56%
Max Drawdown (1Y) Largest decline over 1 year	-11.68%	-0.30%	-11.38%
Max Drawdown (5Y) Largest decline over 5 years	-19.44%	-0.79%	-18.65%
Current Drawdown Current decline from peak	-7.49%	0.00%	-7.49%
Average Drawdown Average peak-to-trough decline	-5.27%	-0.08%	-5.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.52%	0.05%	+3.47%

Volatility

OUSM vs. JPST - Volatility Comparison

OShares U.S. Small-Cap Quality Dividend ETF (OUSM) has a higher volatility of 4.29% compared to JPMorgan Ultra-Short Income ETF (JPST) at 0.22%. This indicates that OUSM'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

	OUSM	JPST	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.29%	0.22%	+4.07%
Volatility (6M) Calculated over the trailing 6-month period	9.31%	0.35%	+8.96%
Volatility (1Y) Calculated over the trailing 1-year period	16.95%	0.61%	+16.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.30%	0.57%	+15.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.04%	0.94%	+18.10%