PMIF-U.TO vs. JPST

Last updated Jun 4, 2026

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 5 years, PMIF-U.TO returned 2.60%/yr vs 3.61%/yr for JPST. At a 0.30 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

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Monthly Income Fund (Canada) (PMIF-U.TO) 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, PMIF-U.TO achieves a 0.45% return, which is significantly lower than JPST's 1.40% return.

PMIF-U.TO

• 1D: -0.30%
• 1M: 0.56%
• YTD: 0.45%
• 6M: 0.49%
• 1Y: 6.92%
• 3Y*: 6.17%
• 5Y*: 2.60%
• 10Y*: —

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)

PMIF-U.TO vs. JPST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PMIF-U.TO PIMCO Monthly Income Fund (Canada)	0.45%	9.02%	3.83%	7.22%	-6.89%	0.89%	3.42%	7.02%	0.69%
JPST JPMorgan Ultra-Short Income ETF	1.40%	4.99%	5.58%	5.13%	1.14%	0.11%	2.18%	3.34%	0.51%

Correlation

The correlation between PMIF-U.TO and JPST is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (All Time) Calculated using the full available price history since Oct 4, 2018	0.30

Return for Risk

PMIF-U.TO vs. JPST — Risk / Return Rank

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

PMIF-U.TO

PMIF-U.TO Risk / Return Rank: 57
PMIF-U.TO Sharpe Ratio Rank: 62
PMIF-U.TO Sortino Ratio Rank: 66
PMIF-U.TO Omega Ratio Rank: 64
PMIF-U.TO Calmar Ratio Rank: 44
PMIF-U.TO Martin Ratio Rank: 51

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.

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.

	PMIF-U.TO	JPST	Difference
Sharpe ratio: Return per unit of total volatility	2.06	8.09	-6.04
Sortino ratio: Return per unit of downside risk	3.04	17.60	-14.57
Omega ratio: Gain probability vs. loss probability	1.39	3.94	-2.55
Calmar ratio: Return relative to maximum drawdown	2.16	29.16	-27.00
Martin ratio: Return relative to average drawdown	8.38	144.13	-135.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PMIF-U.TO vs. JPST - Sharpe Ratio Comparison

The current PMIF-U.TO Sharpe Ratio is 2.06, which is lower than the JPST Sharpe Ratio of 8.09. The chart below compares the historical Sharpe Ratios of PMIF-U.TO 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

	PMIF-U.TO	JPST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	8.09	-6.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	6.32	-5.74
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	3.20	-2.61

Drawdowns

PMIF-U.TO vs. JPST - Drawdown Comparison

The maximum PMIF-U.TO drawdown since its inception was -17.24%, which is greater than JPST's maximum drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for PMIF-U.TO and JPST.

Drawdown Indicators

	PMIF-U.TO	JPST	Difference
Max Drawdown Largest peak-to-trough decline	-17.24%	-3.28%	-13.96%
Max Drawdown (1Y) Largest decline over 1 year	-3.22%	-0.15%	-3.07%
Max Drawdown (3Y) Largest decline over 3 years	-4.15%	-0.30%	-3.85%
Max Drawdown (5Y) Largest decline over 5 years	-11.03%	-0.79%	-10.24%
Current Drawdown Current decline from peak	-1.16%	-0.02%	-1.14%
Average Drawdown Average peak-to-trough decline	-2.32%	-0.08%	-2.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	0.03%	+0.80%

Volatility

PMIF-U.TO vs. JPST - Volatility Comparison

PIMCO Monthly Income Fund (Canada) (PMIF-U.TO) has a higher volatility of 1.26% compared to JPMorgan Ultra-Short Income ETF (JPST) at 0.15%. 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.

Volatility by Period

	PMIF-U.TO	JPST	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.26%	0.15%	+1.11%
Volatility (6M) Calculated over the trailing 6-month period	2.51%	0.36%	+2.15%
Volatility (1Y) Calculated over the trailing 1-year period	3.39%	0.54%	+2.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.05%	0.58%	+4.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.71%	0.93%	+5.78%

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 3.94%, 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%
PMIF-U.TO PIMCO Monthly Income Fund (Canada)	3.94%	3.96%	4.91%	4.53%	2.82%	2.40%	2.68%	2.38%	0.59%	0.00%

Frequently Asked Questions

Can I hold both PMIF-U.TO and JPST in my portfolio?

PMIF-U.TO and JPST have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PMIF-U.TO or JPST?

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.

Which ETF is cheaper, PMIF-U.TO or JPST?

JPST is cheaper with a 0.18% expense ratio, compared with 0.84% for PMIF-U.TO.

What is the main difference between PMIF-U.TO and JPST?

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.