ULST vs. JPST
Compare and contrast key facts about State Street Ultra Short Term Bond ETF (ULST) and JPMorgan Ultra-Short Income ETF (JPST).
ULST and JPST 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. JPST is an actively managed fund by JPMorgan. It was launched on May 17, 2017.
Performance
ULST vs. JPST - Performance Comparison
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ULST vs. JPST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ULST State Street Ultra Short Term Bond ETF | 0.64% | 4.80% | 5.23% | 5.60% | 0.87% | 0.25% | 1.45% | 3.23% | 2.04% | 0.70% |
JPST JPMorgan Ultra-Short Income ETF | 0.71% | 4.99% | 5.58% | 5.13% | 1.14% | 0.11% | 2.18% | 3.34% | 2.23% | 1.00% |
Returns By Period
In the year-to-date period, ULST achieves a 0.64% return, which is significantly lower than JPST's 0.71% return.
ULST
- 1D
- 0.10%
- 1M
- -0.01%
- YTD
- 0.64%
- 6M
- 1.68%
- 1Y
- 4.08%
- 3Y*
- 4.98%
- 5Y*
- 3.42%
- 10Y*
- 2.64%
JPST
- 1D
- 0.08%
- 1M
- 0.03%
- YTD
- 0.71%
- 6M
- 1.89%
- 1Y
- 4.41%
- 3Y*
- 5.12%
- 5Y*
- 3.50%
- 10Y*
- —
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ULST vs. JPST - Expense Ratio Comparison
ULST has a 0.20% expense ratio, which is higher than JPST's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
ULST vs. JPST — Risk / Return Rank
ULST
JPST
ULST vs. JPST - 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 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.
| ULST | JPST | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 5.05 | 7.27 | -2.21 |
Sortino ratioReturn per unit of downside risk | 9.61 | 13.92 | -4.31 |
Omega ratioGain probability vs. loss probability | 2.43 | 3.41 | -0.99 |
Calmar ratioReturn relative to maximum drawdown | 11.10 | 14.93 | -3.83 |
Martin ratioReturn relative to average drawdown | 68.31 | 94.51 | -26.20 |
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 | JPST | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.05 | 7.27 | -2.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 3.57 | 6.16 | -2.58 |
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 | 3.16 | -1.68 |
Correlation
The correlation between ULST and JPST is 0.29, 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. JPST - Dividend Comparison
ULST's dividend yield for the trailing twelve months is around 4.38%, which matches JPST's 4.36% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ULST State Street Ultra Short Term Bond ETF | 4.38% | 4.46% | 5.03% | 4.45% | 1.70% | 0.54% | 1.34% | 2.56% | 2.13% | 1.21% | 0.93% | 0.37% |
JPST JPMorgan Ultra-Short Income ETF | 4.36% | 4.43% | 5.16% | 4.79% | 1.83% | 0.73% | 1.43% | 2.69% | 2.07% | 0.96% | 0.00% | 0.00% |
Drawdowns
ULST vs. JPST - Drawdown Comparison
The maximum ULST drawdown since its inception was -6.20%, which is greater than JPST's maximum drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for ULST and JPST.
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Drawdown Indicators
| ULST | JPST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.20% | -3.28% | -2.92% |
Max Drawdown (1Y)Largest decline over 1 year | -0.37% | -0.30% | -0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -1.22% | -0.79% | -0.43% |
Max Drawdown (10Y)Largest decline over 10 years | -6.20% | — | — |
Current DrawdownCurrent decline from peak | -0.01% | 0.00% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -0.08% | -0.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.06% | 0.05% | +0.01% |
Volatility
ULST vs. JPST - Volatility Comparison
State Street Ultra Short Term Bond ETF (ULST) has a higher volatility of 0.25% compared to JPMorgan Ultra-Short Income ETF (JPST) at 0.22%. This indicates that ULST'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.
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Volatility by Period
| ULST | JPST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.25% | 0.22% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 0.42% | 0.35% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.81% | 0.61% | +0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.96% | 0.57% | +0.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.47% | 0.94% | +0.53% |