SPTU vs. JPST

Last updated Aug 4, 2026

SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) and JPST (JPMorgan Ultra-Short Income ETF) are both Ultrashort Bond funds. SPTU is passively managed, while JPST is actively managed. Their 0.24 correlation means their historical movements had little consistent relationship. SPTU charges 0.05%/yr vs 0.18%/yr for JPST.

Performance

SPTU vs. JPST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU) and JPMorgan Ultra-Short Income ETF (JPST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SPTU having a 2.10% return and JPST slightly lower at 2.01%.

SPTU

• 1D: -0.01%
• 1M: 0.31%
• 6M: 1.79%
• YTD: 2.10%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

JPST

• 1D: 0.06%
• 1M: 0.30%
• 6M: 1.62%
• YTD: 2.01%
• 1Y: 3.96%
• 3Y*: 5.07%
• 5Y*: 3.72%
• 10Y*: —
• ALL TIME*: 2.99%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JPST JPMorgan Ultra-Short Income ETF	$283.32M	$279.21M	$317.05M
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	$32.95K	$32.90K	$66.95K

SPTU vs. JPST - Yearly Performance Comparison

	2026 (YTD)	2025
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	2.10%	0.87%
JPST JPMorgan Ultra-Short Income ETF	2.01%	1.02%

Correlation

The correlation between SPTU and JPST is 0.24, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 8, 2025	0.24

Return for Risk

SPTU vs. JPST — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPTU

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

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) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPTU vs. JPST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU) 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.

	SPTU	JPST	Difference
Sharpe ratio: Return per unit of total volatility	—	7.71	—
Sortino ratio: Return per unit of downside risk	—	15.55	—
Omega ratio: Gain probability vs. loss probability	—	3.51	—
Calmar ratio: Return relative to maximum drawdown	—	26.75	—
Martin ratio: Return relative to average drawdown	—	126.55	—

Drawdowns

SPTU vs. JPST - Drawdown Comparison

The maximum SPTU drawdown since its inception was -0.04%, smaller than the maximum JPST drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for SPTU and JPST.

Drawdown Indicators

	SPTU	JPST	Difference
Max Drawdown Largest peak-to-trough decline	-0.04%	-3.28%	+3.24%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.15%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.30%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.79%	—
Current Drawdown Current decline from peak	-0.01%	0.00%	-0.01%
Average Drawdown Average peak-to-trough decline	0.00%	-0.08%	+0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.03%	—

Volatility

Volatility by Period

	SPTU	JPST	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.14%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.39%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.32%	0.52%	-0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.32%	0.58%	-0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.32%	0.93%	-0.61%

SPTU vs. JPST - Expense Ratio Comparison

SPTU has a 0.05% expense ratio, which is lower than JPST's 0.18% 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

SPTU vs. JPST - Dividend Comparison

SPTU's dividend yield for the trailing twelve months is around 2.97%, less than JPST's 4.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JPST JPMorgan Ultra-Short Income ETF	4.20%	4.43%	5.16%	4.79%	1.83%	0.73%	1.43%	2.69%	2.07%	0.96%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	2.97%	0.89%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPTU and JPST in my portfolio?

SPTU and JPST have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPTU or JPST?

On fees, SPTU is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPTU or JPST?

SPTU is cheaper with a 0.05% expense ratio, compared with 0.18% for JPST.

Which ETF pays a higher dividend yield, SPTU or JPST?

JPST has the higher dividend yield at 4.20%, compared with 2.97% for SPTU.

What is the main difference between SPTU and JPST?

They also come from different issuers: State Street and JPMorgan. Their fees differ too: 0.05% for SPTU and 0.18% for JPST.