SBIL vs. JMMF

Last updated Jun 4, 2026

SBIL (Simplify Government Money Market ETF) and JMMF (JPMorgan 100% U.S. Treasury Securities Money Market ETF) are both Money Market funds. Both are actively managed. At a 0.20 correlation, their price movements are largely independent. SBIL charges 0.15%/yr vs 0.16%/yr for JMMF.

Performance

SBIL vs. JMMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Government Money Market ETF (SBIL) and JPMorgan 100% U.S. Treasury Securities Money Market ETF (JMMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SBIL achieves a 1.51% return, which is significantly higher than JMMF's 1.42% return.

SBIL

• 1D: 0.00%
• 1M: 0.29%
• YTD: 1.51%
• 6M: 1.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JMMF

• 1D: 0.02%
• 1M: 0.29%
• YTD: 1.42%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SBIL vs. JMMF - Yearly Performance Comparison

	2026 (YTD)	2025
SBIL Simplify Government Money Market ETF	1.51%	0.19%
JMMF JPMorgan 100% U.S. Treasury Securities Money Market ETF	1.42%	0.17%

Correlation

The correlation between SBIL and JMMF is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 12, 2025	0.20

Return for Risk

SBIL vs. JMMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Government Money Market ETF (SBIL) and JPMorgan 100% U.S. Treasury Securities Money Market ETF (JMMF). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SBIL	JMMF	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	14.09	6.42	+7.67

Drawdowns

SBIL vs. JMMF - Drawdown Comparison

The maximum SBIL drawdown since its inception was -0.03%, smaller than the maximum JMMF drawdown of -0.14%. Use the drawdown chart below to compare losses from any high point for SBIL and JMMF.

Drawdown Indicators

	SBIL	JMMF	Difference
Max Drawdown Largest peak-to-trough decline	-0.03%	-0.14%	+0.11%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.01%	+0.01%

Volatility

Volatility by Period

	SBIL	JMMF	Difference
Volatility (1Y) Calculated over the trailing 1-year period	0.28%	0.54%	-0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.28%	0.54%	-0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.28%	0.54%	-0.26%

SBIL vs. JMMF - Expense Ratio Comparison

SBIL has a 0.15% expense ratio, which is lower than JMMF's 0.16% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SBIL vs. JMMF - Dividend Comparison

SBIL's dividend yield for the trailing twelve months is around 3.26%, more than JMMF's 1.59% yield.

Position	TTM	2025
JMMF JPMorgan 100% U.S. Treasury Securities Money Market ETF	1.59%	0.20%
SBIL Simplify Government Money Market ETF	3.26%	1.79%

Frequently Asked Questions

Can I hold both SBIL and JMMF in my portfolio?

SBIL and JMMF have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SBIL or JMMF?

On fees, SBIL is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SBIL or JMMF?

SBIL is cheaper with a 0.15% expense ratio, compared with 0.16% for JMMF.

Which ETF pays a higher dividend yield, SBIL or JMMF?

SBIL has the higher dividend yield at 3.26%, compared with 1.59% for JMMF.

What is the main difference between SBIL and JMMF?

They also come from different issuers: Simplify and JPMorgan. Their fees differ too: 0.15% for SBIL and 0.16% for JMMF.