JPST — JPMorgan Ultra-Short Income ETF

Overview

The JPMorgan Ultra-Short Income ETF (JPST) operates within the Ultra-Short / Cash category, which currently contains four ETFs tracked by ETFValuer. Issued by JPMorgan, the fund has accumulated $39.3 billion in assets under management and trades at a price of $50.44. It holds an overall rank of #89 out of 120 tracked ETFs across all categories and has received an ETFValuer grade of C with a score of 55.5 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 small number of peers in its specific category. This combination of low cost and high income distribution positions the fund as a notable option within its narrow sector despite its mid-tier overall ranking.

Over the most recent trading day, the fund gained 0.02%, followed by a 0.08% increase over the past week. Monthly returns accelerated to 0.40% over one month and 0.61% over three months, while the six-month return reached 1.37%. Year-to-date performance stands at 1.35%, closely mirroring the six-month trajectory. The one-year return is recorded at 3.88%, and the three-year annualized return is significantly higher at 15.70%. This data indicates a pattern where short-term gains are modest but consistent, while the longer-term three-year horizon shows a much steeper accumulation of value compared to the single-year figure.

The fund carries a volatility label of Very Low and a beta of 0.06, indicating minimal sensitivity to broader market movements. Despite the low volatility, the Sharpe ratio is negative at -1.71, suggesting that the risk-adjusted returns have been unfavorable relative to the risk-free rate over the measured period. The maximum drawdown recorded is -0.41%, which aligns with the Very Low volatility classification and suggests limited downside severity during market stress. This combination of a near-zero beta and a small maximum drawdown implies the fund is designed to preserve capital with minimal fluctuation. However, the negative Sharpe ratio highlights that the returns generated have not sufficiently compensated for the time value of money or risk taken, even if absolute losses were contained.

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

JPST Top Holdings

Holdings as of 2026-02-28 per the fund's most recent SEC N-PORT-P filing.

Market Backdrop

10-Year Treasury Yield: 4.55% (as of 2026-07-07) — 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): 16.13 (as of 2026-07-07) — 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 Performance History

How JPST Compares to Other Ultra-Short / Cash ETFs