VGMS vs. JPIE

Last updated Jun 24, 2026

VGMS (Vanguard Multi-Sector Income Bond ETF) and JPIE (JPMorgan Income ETF) are both Multisector Bonds funds. Both are actively managed. Over the past year, VGMS returned 6.52% vs 5.35% for JPIE. A 0.78 correlation means they provide meaningful diversification when combined. VGMS charges 0.30%/yr vs 0.40%/yr for JPIE.

Performance

VGMS vs. JPIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Multi-Sector Income Bond ETF (VGMS) and JPMorgan Income ETF (JPIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VGMS having a 1.48% return and JPIE slightly higher at 1.49%.

VGMS

• 1D: 0.17%
• 1M: 0.73%
• YTD: 1.48%
• 6M: 1.55%
• 1Y: 6.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JPIE

• 1D: 0.02%
• 1M: 0.50%
• YTD: 1.49%
• 6M: 1.65%
• 1Y: 5.35%
• 3Y*: 6.60%
• 5Y*: —
• 10Y*: —

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

VGMS vs. JPIE - Yearly Performance Comparison

	2026 (YTD)	2025
VGMS Vanguard Multi-Sector Income Bond ETF	1.48%	5.51%
JPIE JPMorgan Income ETF	1.49%	4.41%

Correlation

The correlation between VGMS and JPIE is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jun 11, 2025	0.78

The correlation between VGMS and JPIE has been stable across timeframes, ranging from 0.78 to 0.79 - a consistent structural relationship.

Return for Risk

VGMS vs. JPIE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VGMS

VGMS Risk / Return Rank: 66
VGMS Sharpe Ratio Rank: 65
VGMS Sortino Ratio Rank: 70
VGMS Omega Ratio Rank: 69
VGMS Calmar Ratio Rank: 58
VGMS Martin Ratio Rank: 69

JPIE

JPIE Risk / Return Rank: 93
JPIE Sharpe Ratio Rank: 94
JPIE Sortino Ratio Rank: 96
JPIE Omega Ratio Rank: 96
JPIE Calmar Ratio Rank: 86
JPIE Martin Ratio Rank: 93

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VGMS vs. JPIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Multi-Sector Income Bond ETF (VGMS) 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.

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.

	VGMS	JPIE	Difference
Sharpe ratio: Return per unit of total volatility	2.01	3.33	-1.33
Sortino ratio: Return per unit of downside risk	2.99	5.14	-2.15
Omega ratio: Gain probability vs. loss probability	1.39	1.74	-0.36
Calmar ratio: Return relative to maximum drawdown	2.66	4.68	-2.02
Martin ratio: Return relative to average drawdown	12.04	22.79	-10.75

VGMS vs. JPIE - Sharpe Ratio Comparison

The current VGMS Sharpe Ratio is 2.01, which is lower than the JPIE Sharpe Ratio of 3.33. The chart below compares the historical Sharpe Ratios of VGMS and JPIE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VGMS vs. JPIE - Drawdown Comparison

The maximum VGMS drawdown since its inception was -2.46%, smaller than the maximum JPIE drawdown of -9.96%. Use the drawdown chart below to compare losses from any high point for VGMS and JPIE.

Drawdown Indicators

	VGMS	JPIE	Difference
Max Drawdown Largest peak-to-trough decline	-2.46%	-9.96%	+7.50%
Max Drawdown (1Y) Largest decline over 1 year	-2.46%	-1.15%	-1.31%
Max Drawdown (3Y) Largest decline over 3 years	—	-2.40%	—
Current Drawdown Current decline from peak	-0.18%	-0.33%	+0.15%
Average Drawdown Average peak-to-trough decline	-0.30%	-2.07%	+1.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	0.24%	+0.30%

Volatility

VGMS vs. JPIE - Volatility Comparison

Vanguard Multi-Sector Income Bond ETF (VGMS) has a higher volatility of 1.06% compared to JPMorgan Income ETF (JPIE) at 0.59%. This indicates that VGMS's price experiences larger fluctuations and is considered to be riskier than JPIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGMS	JPIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.06%	0.59%	+0.47%
Volatility (6M) Calculated over the trailing 6-month period	2.64%	1.34%	+1.30%
Volatility (1Y) Calculated over the trailing 1-year period	3.27%	1.61%	+1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.24%	3.51%	-0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.24%	3.51%	-0.27%

VGMS vs. JPIE - Expense Ratio Comparison

VGMS has a 0.30% expense ratio, which is lower than JPIE's 0.40% expense ratio.

Dividends

VGMS vs. JPIE - Dividend Comparison

VGMS's dividend yield for the trailing twelve months is around 5.14%, less than JPIE's 5.62% yield.

Position	TTM	2025	2024	2023	2022	2021
JPIE JPMorgan Income ETF	5.62%	5.65%	6.11%	5.70%	4.49%	0.63%
VGMS Vanguard Multi-Sector Income Bond ETF	5.14%	2.94%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VGMS and JPIE in my portfolio?

VGMS and JPIE have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VGMS or JPIE?

VGMS has higher volatility (1.06%) compared to JPIE (0.59%). In terms of maximum drawdown, VGMS dropped -2.46% vs JPIE's -9.96%.

Which ETF is better, VGMS or JPIE?

On 1-year performance, VGMS leads with 6.52% vs 5.35% for JPIE. On fees, VGMS is cheaper at 0.30% per year. On volatility, JPIE has been the lower-risk option at 0.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VGMS or JPIE?

Over the 1-year period, VGMS has performed better with a 6.52% return vs 5.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VGMS or JPIE?

VGMS is cheaper with a 0.30% expense ratio, compared with 0.40% for JPIE.

Which ETF pays a higher dividend yield, VGMS or JPIE?

JPIE has the higher dividend yield at 5.62%, compared with 5.14% for VGMS.

What is the main difference between VGMS and JPIE?

They also come from different issuers: Vanguard and JPMorgan. Their fees differ too: 0.30% for VGMS and 0.40% for JPIE.

Which has better risk-adjusted returns?

JPIE currently has the higher Sharpe Ratio (3.33 vs 2.01), 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.