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VSMV vs. JPST
Performance
Return for Risk
Dividends
Drawdowns
Volatility

VSMV vs. JPST

Last updated Apr 2, 2026

Compare and contrast key facts about VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV) and JPMorgan Ultra-Short Income ETF (JPST).

VSMV and JPST are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VSMV is a passively managed fund by Crestview that tracks the performance of the Nasdaq Victory Multi-Factor Minimum Volatility Index. It was launched on Jun 22, 2017. JPST is an actively managed fund by JPMorgan. It was launched on May 17, 2017.

Performance

VSMV vs. JPST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV) and JPMorgan Ultra-Short Income ETF (JPST). The values are adjusted to include any dividend payments, if applicable.

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VSMV vs. JPST - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VSMV
VictoryShares US Multi-Factor Minimum Volatility ETF		2.92%16.77%15.79%12.34%-7.56%25.66%5.05%26.79%-1.12%11.48%
JPST
JPMorgan Ultra-Short Income ETF		0.71%4.99%5.58%5.13%1.14%0.11%2.18%3.34%2.23%0.86%

Returns By Period

In the year-to-date period, VSMV achieves a 2.92% return, which is significantly higher than JPST's 0.71% return.

VSMV

1D
0.28%
1M
-3.52%
YTD
2.92%
6M
6.10%
1Y
18.74%
3Y*
15.36%
5Y*
11.21%
10Y*
—

JPST

1D
0.01%
1M
0.06%
YTD
0.71%
6M
1.84%
1Y
4.39%
3Y*
5.12%
5Y*
3.50%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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VictoryShares US Multi-Factor Minimum Volatility ETF

JPMorgan Ultra-Short Income ETF

Often compared with VSMV:
VSMV vs. USMVVSMV vs. SPYVSMV vs. FVVSMV vs. LGLVVSMV vs. MGVVSMV vs. FDVVVSMV vs. VOO
Often compared with JPST:
JPST vs. ICSHJPST vs. JPIEJPST vs. VGSHJPST vs. NEARJPST vs. JMSTJPST vs. VCSHJPST vs. GSY

VSMV vs. JPST - Expense Ratio Comparison

VSMV has a 0.35% expense ratio, which is higher than JPST's 0.18% expense ratio.

VSMV
VictoryShares US Multi-Factor Minimum Volatility ETF
JPST
JPMorgan Ultra-Short Income ETF

Return for Risk

VSMV vs. JPST — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VSMV
VSMV Risk / Return Rank: 7575
Overall Rank
VSMV Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
VSMV Sortino Ratio Rank: 7676
Sortino Ratio Rank
VSMV Omega Ratio Rank: 7575
Omega Ratio Rank
VSMV Calmar Ratio Rank: 6767
Calmar Ratio Rank
VSMV Martin Ratio Rank: 8282
Martin Ratio Rank
JPST
JPST Risk / Return Rank: 9999
Overall Rank
JPST Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
JPST Sortino Ratio Rank: 9999
Sortino Ratio Rank
JPST Omega Ratio Rank: 9999
Omega Ratio Rank
JPST Calmar Ratio Rank: 9999
Calmar Ratio Rank
JPST Martin Ratio Rank: 9999
Martin Ratio Rank
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.

VSMV vs. JPST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV) 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.

VSMVJPSTDifference

Sharpe ratio

Return per unit of total volatility

1.40

7.23

-5.83

Sortino ratio

Return per unit of downside risk

2.02

13.86

-11.84

Omega ratio

Gain probability vs. loss probability

1.29

3.40

-2.11

Calmar ratio

Return relative to maximum drawdown

1.81

14.88

-13.07

Martin ratio

Return relative to average drawdown

9.72

94.20

-84.48

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VSMV vs. JPST - Sharpe Ratio Comparison

The current VSMV Sharpe Ratio is 1.40, which is lower than the JPST Sharpe Ratio of 7.23. The chart below compares the historical Sharpe Ratios of VSMV and JPST, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

VSMVJPSTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.40

7.23

-5.83

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.87

6.16

-5.29

Sharpe Ratio (All Time)

Calculated using the full available price history

0.78

3.16

-2.38

Correlation

The correlation between VSMV and JPST is 0.07, 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

VSMV vs. JPST - Dividend Comparison

VSMV's dividend yield for the trailing twelve months is around 1.39%, less than JPST's 4.34% yield.

TTM202520242023202220212020201920182017
VSMV
VictoryShares US Multi-Factor Minimum Volatility ETF		1.39%1.35%1.36%1.77%1.99%1.36%2.01%2.00%2.42%1.11%
JPST
JPMorgan Ultra-Short Income ETF		4.34%4.43%5.16%4.79%1.83%0.73%1.43%2.69%2.07%0.96%

Drawdowns

VSMV vs. JPST - Drawdown Comparison

The maximum VSMV drawdown since its inception was -31.33%, which is greater than JPST's maximum drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for VSMV and JPST.

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Drawdown Indicators

VSMVJPSTDifference

Max Drawdown

Largest peak-to-trough decline

-31.33%

-3.28%

-28.05%

Max Drawdown (1Y)

Largest decline over 1 year

-10.43%

-0.30%

-10.13%

Max Drawdown (5Y)

Largest decline over 5 years

-17.96%

-0.79%

-17.17%

Current Drawdown

Current decline from peak

-3.57%

0.00%

-3.57%

Average Drawdown

Average peak-to-trough decline

-3.46%

-0.08%

-3.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.95%

0.05%

+1.90%

Volatility

VSMV vs. JPST - Volatility Comparison

VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV) has a higher volatility of 2.76% compared to JPMorgan Ultra-Short Income ETF (JPST) at 0.22%. This indicates that VSMV'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

VSMVJPSTDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.76%

0.22%

+2.54%

Volatility (6M)

Calculated over the trailing 6-month period

6.73%

0.35%

+6.38%

Volatility (1Y)

Calculated over the trailing 1-year period

13.40%

0.61%

+12.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.92%

0.57%

+12.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.14%

0.94%

+14.20%