SPAXX vs. JPLD
SPAXX (Fidelity Government Money Market Fund) and JPLD (J P Morgan Exchange-Traded Fund Trust - Limited Duration Bond ETF) are both funds - SPAXX is a Money Market fund actively managed by Fidelity, while JPLD is a Short-Term Bond fund actively managed by JPMorgan. Both are actively managed. Over the past year, SPAXX returned 3.66% vs 4.54% for JPLD. At a 0.08 correlation, their price movements are largely independent. SPAXX charges 0.42%/yr vs 0.24%/yr for JPLD.
Performance
SPAXX vs. JPLD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPAXX achieves a 1.37% return, which is significantly higher than JPLD's 1.20% return.
SPAXX
- 1D
- 0.00%
- 1M
- 0.28%
- YTD
- 1.37%
- 6M
- 1.67%
- 1Y
- 3.66%
- 3Y*
- 2.42%
- 5Y*
- 1.45%
- 10Y*
- —
JPLD
- 1D
- -0.04%
- 1M
- 0.18%
- YTD
- 1.20%
- 6M
- 1.54%
- 1Y
- 4.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPAXX vs. JPLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPAXX Fidelity Government Money Market Fund | 1.37% | 3.96% | 1.54% | 0.41% |
JPLD J P Morgan Exchange-Traded Fund Trust - Limited Duration Bond ETF | 1.20% | 6.01% | 6.49% | 3.15% |
Correlation
The correlation between SPAXX and JPLD is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jul 31, 2023 | 0.08 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SPAXX vs. JPLD — Risk / Return Rank
SPAXX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
JPLD
SPAXX vs. JPLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Government Money Market Fund (SPAXX) and J P Morgan Exchange-Traded Fund Trust - Limited Duration Bond ETF (JPLD). 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.
| SPAXX | JPLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.66 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 4.54 | — |
| Martin ratioReturn relative to average drawdown | — | 21.02 | — |
Loading charts...
Drawdowns
SPAXX vs. JPLD - Drawdown Comparison
The maximum SPAXX drawdown since its inception was 0.00%, smaller than the maximum JPLD drawdown of -1.17%. Use the drawdown chart below to compare losses from any high point for SPAXX and JPLD.
Loading charts...
Drawdown Indicators
| SPAXX | JPLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | 0.00% | -1.17% | +1.17% |
Max Drawdown (1Y)Largest decline over 1 year | 0.00% | -1.00% | +1.00% |
Max Drawdown (3Y)Largest decline over 3 years | 0.00% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | 0.00% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.04% | +0.04% |
Average DrawdownAverage peak-to-trough decline | 0.00% | -0.15% | +0.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 0.22% | -0.22% |
Volatility
SPAXX vs. JPLD - Volatility Comparison
The current volatility for Fidelity Government Money Market Fund (SPAXX) is 0.28%, while J P Morgan Exchange-Traded Fund Trust - Limited Duration Bond ETF (JPLD) has a volatility of 0.38%. This indicates that SPAXX experiences smaller price fluctuations and is considered to be less risky than JPLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SPAXX | JPLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.28% | 0.38% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 0.66% | 0.97% | -0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.03% | 1.46% | -0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.69% | 1.83% | -1.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.69% | 1.83% | -1.14% |
SPAXX vs. JPLD - Expense Ratio Comparison
SPAXX has a 0.42% expense ratio, which is higher than JPLD's 0.24% expense ratio.
Dividends
SPAXX vs. JPLD - Dividend Comparison
SPAXX's dividend yield for the trailing twelve months is around 3.59%, less than JPLD's 4.20% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
JPLD J P Morgan Exchange-Traded Fund Trust - Limited Duration Bond ETF | 4.20% | 4.24% | 4.47% | 1.83% |
SPAXX Fidelity Government Money Market Fund | 3.59% | 3.88% | 1.53% | 0.41% |
Frequently Asked Questions
SPAXX and JPLD have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JPLD has higher volatility (0.38%) compared to SPAXX (0.28%). In terms of maximum drawdown, SPAXX dropped 0.00% vs JPLD's -1.17%.
SPAXX currently has the higher Sharpe Ratio (3.65 vs 3.17), 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.
Find the right allocation for SPAXX and JPLD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer