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) is an ultra-short cash fund issued by JPMorgan with $42.1 billion in assets. It holds a C grade and ranks second among nine peers in its category, placing it 251st overall across all tracked ETFs. The fund’s 0.18% expense ratio sits slightly above the category median of 0.15%, while its 4.15% dividend yield aligns closely with the peer average of 4.14%. Top holdings represent only 10.6% of assets, with the largest position being the JPMorgan U.S. Government Money Market Fund at 2.9%.

Price action shows the fund trading at 11.9% of its 52-week range, indicating a position near the lower end of recent historical levels. Short-term returns have been modest, with one-month gains of 0.09% and a one-year return of 3.49% that trails the category median of 3.55%. Longer-term performance remains stronger, with three-year returns reaching 15.47%. The ETFValuer grade has remained unchanged at C over the last 35 tracked days, and price history is available for 3.0 years.

Risk metrics reflect a very low volatility profile, with an annualized standard deviation of 0.51% and a beta of 0.07 indicating minimal correlation to broader market movements. The maximum drawdown of -0.30% underscores the stability of the fund's recent price action. However, the Sharpe ratio of -2.96 suggests that risk-adjusted returns have been negative relative to the risk-free rate during the measurement period. High liquidity is evident from an average daily volume of 6,885,746 shares, facilitating easy entry and exit.

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: 5.28% (as of 2026-10-07) — 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): 15.08 (as of 2026-10-07) — 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: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

JPST Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 6.9M/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $42.1B 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