JPST — JPMorgan Ultra-Short Income ETF

JPST Price Performance — Growth of $10,000

Value of a $10,000 investment in JPST over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

JPST Drawdown

The "underwater" chart: JPST's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The JPMorgan Ultra-Short Income ETF (JPST) operates within the Ultra-Short / Cash category, which currently contains 9 funds tracked by ETFValuer. Issued by JPMorgan, the fund has accumulated $39.3 billion in assets under management and trades at a price of $50.52. It holds an overall rank of #294 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of C with a score of 57.2 out of 100. The fund charges an expense ratio of 0.18% while offering a dividend yield of 4.25%. The substantial asset size and high yield suggest significant investor adoption relative to the fund's cost structure and income generation capabilities. This positioning places the ETF as a mid-tier option within its specific category of 9 funds.

Over the last day, the fund returned +0.06%, rising to +0.08% over one week and +0.24% over one month. The three-month return accelerated to +0.89%, followed by a six-month gain of +1.63% and a year-to-date increase of +1.85%. The one-year return stands at +4.08%, while the three-year return totals +15.98%. This pattern indicates a consistent upward trajectory where returns have generally expanded as the time horizon lengthens from daily to multi-year periods. The fund's closest category peers include FLOT, which ranks #299 with a +4.53% one-year return, and SHV, which ranks #317 with a +3.81% one-year return.

The fund carries a Very Low volatility label and a beta of 0.06, indicating minimal sensitivity to broader market movements. Despite the low volatility, the Sharpe ratio is recorded at -1.69, suggesting that the risk-adjusted returns have been negative relative to the risk-free rate over the measured period. The maximum drawdown was limited to -0.30%, reflecting the fund's ability to preserve capital during market declines. This combination of a near-zero beta and a very small maximum drawdown implies the fund behaves defensively with limited downside exposure. However, the negative Sharpe ratio highlights that the low risk profile has not translated into positive risk-adjusted performance metrics during the analyzed timeframe.

AI-generated summary based on the data on this page.

JPST Top Holdings

Holdings as of 2026-05-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 10.6% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how JPST's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With JPST

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with JPST's top 10 — SGOV overlaps most, holding 1 of the same companies as JPST's top 10 (3.0% of JPST's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.65% (as of 2026-07-27) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.67 (as of 2026-07-27) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

JPST Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 0.26% and average daily volume is 6.5M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $39.3B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: JPST is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

JPST Performance History

How JPST Compares to Other Ultra-Short / Cash ETFs