PMIF-U.TO vs. JPST
PMIF-U.TO (PIMCO Monthly Income Fund (Canada)) and JPST (JPMorgan Ultra-Short Income ETF) are both exchange-traded funds - PMIF-U.TO is a Multisector Bonds fund actively managed by PIMCO, while JPST is a Ultrashort Bond fund actively managed by JPMorgan. Both are actively managed. Over the past year, PMIF-U.TO returned 7.99% vs 4.21% for JPST. At a 0.40 correlation, their price movements are largely independent. PMIF-U.TO charges 0.84%/yr vs 0.18%/yr for JPST.
Performance
PMIF-U.TO vs. JPST - Performance Comparison
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Returns By Period
In the year-to-date period, PMIF-U.TO achieves a 1.93% return, which is significantly higher than JPST's 1.62% return.
PMIF-U.TO
- 1D
- 0.20%
- 1M
- 1.27%
- YTD
- 1.93%
- 6M
- 2.02%
- 1Y
- 7.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JPST
- 1D
- 0.04%
- 1M
- 0.31%
- YTD
- 1.62%
- 6M
- 1.70%
- 1Y
- 4.21%
- 3Y*
- 5.17%
- 5Y*
- 3.67%
- 10Y*
- —
PMIF-U.TO vs. JPST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PMIF-U.TO PIMCO Monthly Income Fund (Canada) | 1.93% | 10.75% | 5.77% | 0.26% |
JPST JPMorgan Ultra-Short Income ETF | 1.62% | 4.99% | 5.58% | 0.05% |
Correlation
The correlation between PMIF-U.TO and JPST is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Dec 28, 2023 | 0.40 |
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Return for Risk
PMIF-U.TO vs. JPST — Risk / Return Rank
PMIF-U.TO
JPST
PMIF-U.TO vs. JPST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Monthly Income Fund (Canada) (PMIF-U.TO) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PMIF-U.TO | JPST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.38 | ||
| Sortino ratioReturn per unit of downside risk | -12.91 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 3.69 | -2.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 28.46 | -25.88 |
| Martin ratioReturn relative to average drawdown | 10.40 | 135.62 | -125.22 |
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Drawdowns
PMIF-U.TO vs. JPST - Drawdown Comparison
The maximum PMIF-U.TO drawdown since its inception was -3.11%, smaller than the maximum JPST drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for PMIF-U.TO and JPST.
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Drawdown Indicators
| PMIF-U.TO | JPST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.11% | -3.28% | +0.17% |
Max Drawdown (1Y)Largest decline over 1 year | -3.11% | -0.15% | -2.96% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.30% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.79% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.54% | -0.08% | -0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.03% | +0.74% |
Volatility
PMIF-U.TO vs. JPST - Volatility Comparison
PIMCO Monthly Income Fund (Canada) (PMIF-U.TO) has a higher volatility of 1.17% compared to JPMorgan Ultra-Short Income ETF (JPST) at 0.19%. This indicates that PMIF-U.TO'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.
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Volatility by Period
| PMIF-U.TO | JPST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 0.19% | +0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 2.62% | 0.38% | +2.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.40% | 0.55% | +2.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.88% | 0.58% | +3.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.88% | 0.93% | +2.95% |
PMIF-U.TO vs. JPST - Expense Ratio Comparison
PMIF-U.TO has a 0.84% expense ratio, which is higher than JPST's 0.18% expense ratio.
Dividends
PMIF-U.TO vs. JPST - Dividend Comparison
PMIF-U.TO's dividend yield for the trailing twelve months is around 5.50%, more than JPST's 4.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
JPST JPMorgan Ultra-Short Income ETF | 4.25% | 4.43% | 5.16% | 4.79% | 1.83% | 0.73% | 1.43% | 2.69% | 2.07% | 0.96% |
PMIF-U.TO PIMCO Monthly Income Fund (Canada) | 5.50% | 5.50% | 6.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PMIF-U.TO and JPST have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JPST is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JPST is cheaper with a 0.18% expense ratio, compared with 0.84% for PMIF-U.TO.
PMIF-U.TO is categorized as Multisector Bonds, while JPST is Ultrashort Bond. They also come from different issuers: PIMCO and JPMorgan. Their fees differ too: 0.84% for PMIF-U.TO and 0.18% for JPST.
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