VSB.TO vs. JPST

Last updated Jun 4, 2026

VSB.TO (Vanguard Canadian Short Term Bond) and JPST (JPMorgan Ultra-Short Income ETF) are both exchange-traded funds - VSB.TO is a Canadian Government Bonds fund tracking the FTSE Canada Short Term Government Bond Index, while JPST is a Ultrashort Bond fund actively managed by JPMorgan. VSB.TO is passively managed, while JPST is actively managed. Over the past 5 years, VSB.TO returned 2.02%/yr vs 6.58%/yr for JPST. At a 0.08 correlation, their price movements are largely independent. VSB.TO charges 0.15%/yr vs 0.18%/yr for JPST.

Performance

VSB.TO vs. JPST - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard Canadian Short Term Bond (VSB.TO) and JPMorgan Ultra-Short Income ETF (JPST). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VSB.TO is traded in CAD, while JPST is traded in USD. To make them comparable, the JPST values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VSB.TO achieves a 0.97% return, which is significantly lower than JPST's 2.69% return.

VSB.TO

• 1D: -0.04%
• 1M: 0.92%
• YTD: 0.97%
• 6M: 0.78%
• 1Y: 2.90%
• 3Y*: 4.65%
• 5Y*: 2.02%
• 10Y*: 1.94%

JPST

• 1D: 0.41%
• 1M: 2.36%
• YTD: 2.69%
• 6M: 1.35%
• 1Y: 5.66%
• 3Y*: 6.38%
• 5Y*: 6.58%
• 10Y*: —

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

VSB.TO vs. JPST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSB.TO Vanguard Canadian Short Term Bond	0.97%	3.66%	5.54%	4.92%	-3.93%	-1.15%	5.29%	3.06%	1.67%	-1.39%
JPST JPMorgan Ultra-Short Income ETF	2.69%	0.17%	14.65%	2.81%	8.35%	-0.79%	0.45%	-1.74%	10.90%	-5.95%

Correlation

The correlation between VSB.TO and JPST is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.01
Correlation (All Time) Calculated using the full available price history since May 22, 2017	0.08

Return for Risk

VSB.TO vs. JPST — Risk / Return Rank

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

VSB.TO

VSB.TO Risk / Return Rank: 43
VSB.TO Sharpe Ratio Rank: 43
VSB.TO Sortino Ratio Rank: 41
VSB.TO Omega Ratio Rank: 47
VSB.TO Calmar Ratio Rank: 41
VSB.TO Martin Ratio Rank: 42

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) 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.

VSB.TO vs. JPST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Canadian Short Term Bond (VSB.TO) 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.

	VSB.TO	JPST	Difference
Sharpe ratio: Return per unit of total volatility	1.53	1.24	+0.29
Sortino ratio: Return per unit of downside risk	2.12	1.72	+0.40
Omega ratio: Gain probability vs. loss probability	1.30	1.22	+0.08
Calmar ratio: Return relative to maximum drawdown	2.04	1.56	+0.48
Martin ratio: Return relative to average drawdown	6.78	4.28	+2.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VSB.TO vs. JPST - Sharpe Ratio Comparison

The current VSB.TO Sharpe Ratio is 1.53, which is comparable to the JPST Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of VSB.TO and JPST, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VSB.TO	JPST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	1.24	+0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	1.05	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.50	+0.14

Drawdowns

VSB.TO vs. JPST - Drawdown Comparison

The maximum VSB.TO drawdown since its inception was -8.38%, smaller than the maximum JPST drawdown of -13.58%. Use the drawdown chart below to compare losses from any high point for VSB.TO and JPST.

Drawdown Indicators

	VSB.TO	JPST	Difference
Max Drawdown Largest peak-to-trough decline	-8.38%	-13.58%	+5.20%
Max Drawdown (1Y) Largest decline over 1 year	-1.43%	-3.64%	+2.21%
Max Drawdown (3Y) Largest decline over 3 years	-1.43%	-5.13%	+3.70%
Max Drawdown (5Y) Largest decline over 5 years	-6.88%	-5.13%	-1.75%
Max Drawdown (10Y) Largest decline over 10 years	-8.38%	—	—
Current Drawdown Current decline from peak	-0.13%	0.00%	-0.13%
Average Drawdown Average peak-to-trough decline	-0.95%	-3.63%	+2.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.43%	1.33%	-0.90%

Volatility

VSB.TO vs. JPST - Volatility Comparison

Vanguard Canadian Short Term Bond (VSB.TO) and JPMorgan Ultra-Short Income ETF (JPST) have volatilities of 0.71% and 0.72%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSB.TO	JPST	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.71%	0.72%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	1.57%	3.45%	-1.88%
Volatility (1Y) Calculated over the trailing 1-year period	1.90%	4.57%	-2.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.57%	6.31%	-3.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.48%	6.61%	-3.13%

VSB.TO vs. JPST - Expense Ratio Comparison

VSB.TO has a 0.15% 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

VSB.TO vs. JPST - Dividend Comparison

VSB.TO's dividend yield for the trailing twelve months is around 3.00%, less than JPST's 4.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPST JPMorgan Ultra-Short Income ETF	4.26%	4.43%	5.16%	4.79%	1.83%	0.73%	1.43%	2.69%	2.07%	0.96%	0.00%	0.00%
VSB.TO Vanguard Canadian Short Term Bond	3.00%	3.04%	3.04%	2.66%	2.24%	2.02%	2.24%	2.31%	2.29%	2.34%	2.45%	2.38%

Frequently Asked Questions

Can I hold both VSB.TO and JPST in my portfolio?

VSB.TO and JPST have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VSB.TO or JPST?

On fees, VSB.TO is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VSB.TO or JPST?

VSB.TO is cheaper with a 0.15% expense ratio, compared with 0.18% for JPST.

What is the main difference between VSB.TO and JPST?

VSB.TO is categorized as Canadian Government Bonds, while JPST is Ultrashort Bond. They also come from different issuers: Vanguard and JPMorgan. Their fees differ too: 0.15% for VSB.TO and 0.18% for JPST.