ULST vs. JPIE
Compare and contrast key facts about State Street Ultra Short Term Bond ETF (ULST) and JPMorgan Income ETF (JPIE).
ULST and JPIE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ULST is a passively managed fund by State Street that tracks the performance of the Bloomberg US Treasury Bellwether 3 Month Index. It was launched on Oct 9, 2013. JPIE is an actively managed fund by JPMorgan. It was launched on Oct 28, 2021.
Performance
ULST vs. JPIE - Performance Comparison
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ULST vs. JPIE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ULST State Street Ultra Short Term Bond ETF | 0.67% | 4.80% | 5.23% | 5.60% | 0.87% | -0.06% |
JPIE JPMorgan Income ETF | 0.51% | 7.39% | 6.32% | 7.07% | -6.13% | 0.30% |
Returns By Period
In the year-to-date period, ULST achieves a 0.67% return, which is significantly higher than JPIE's 0.51% return.
ULST
- 1D
- 0.03%
- 1M
- 0.02%
- YTD
- 0.67%
- 6M
- 1.60%
- 1Y
- 4.09%
- 3Y*
- 4.99%
- 5Y*
- 3.43%
- 10Y*
- 2.64%
JPIE
- 1D
- 0.10%
- 1M
- -0.44%
- YTD
- 0.51%
- 6M
- 2.07%
- 1Y
- 5.77%
- 3Y*
- 6.27%
- 5Y*
- —
- 10Y*
- —
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ULST vs. JPIE - Expense Ratio Comparison
ULST has a 0.20% expense ratio, which is lower than JPIE's 0.41% expense ratio.
Return for Risk
ULST vs. JPIE — Risk / Return Rank
ULST
JPIE
ULST vs. JPIE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Ultra Short Term Bond ETF (ULST) and JPMorgan Income ETF (JPIE). 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.
| ULST | JPIE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 5.07 | 2.74 | +2.32 |
Sortino ratioReturn per unit of downside risk | 9.64 | 3.66 | +5.98 |
Omega ratioGain probability vs. loss probability | 2.43 | 1.69 | +0.74 |
Calmar ratioReturn relative to maximum drawdown | 11.12 | 3.41 | +7.71 |
Martin ratioReturn relative to average drawdown | 68.42 | 18.78 | +49.64 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ULST | JPIE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.07 | 2.74 | +2.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 3.58 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.81 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.48 | 0.95 | +0.53 |
Correlation
The correlation between ULST and JPIE is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
ULST vs. JPIE - Dividend Comparison
ULST's dividend yield for the trailing twelve months is around 4.34%, less than JPIE's 5.65% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ULST State Street Ultra Short Term Bond ETF | 4.34% | 4.46% | 5.03% | 4.45% | 1.70% | 0.54% | 1.34% | 2.56% | 2.13% | 1.21% | 0.93% | 0.37% |
JPIE JPMorgan Income ETF | 5.65% | 5.65% | 6.11% | 5.70% | 4.49% | 0.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
ULST vs. JPIE - Drawdown Comparison
The maximum ULST drawdown since its inception was -6.20%, smaller than the maximum JPIE drawdown of -9.96%. Use the drawdown chart below to compare losses from any high point for ULST and JPIE.
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Drawdown Indicators
| ULST | JPIE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.20% | -9.96% | +3.76% |
Max Drawdown (1Y)Largest decline over 1 year | -0.37% | -1.72% | +1.35% |
Max Drawdown (5Y)Largest decline over 5 years | -1.22% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -6.20% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.53% | +0.53% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -2.17% | +2.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.06% | 0.31% | -0.25% |
Volatility
ULST vs. JPIE - Volatility Comparison
The current volatility for State Street Ultra Short Term Bond ETF (ULST) is 0.25%, while JPMorgan Income ETF (JPIE) has a volatility of 0.87%. This indicates that ULST experiences smaller price fluctuations and is considered to be less risky than JPIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ULST | JPIE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.25% | 0.87% | -0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 0.42% | 1.09% | -0.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.81% | 2.11% | -1.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.96% | 3.57% | -2.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.47% | 3.57% | -2.10% |