JPST vs SPY
JPST vs SPY
JPMorgan Ultra-Short Income ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. JPST offers more diversification with 535 holdings.
Side-by-Side Comparison
| Metric | JPST | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.09% | |
| AUM | $40.4B | $789.1B | |
| Dividend Yield | 4.55% | 1.01% | |
| Holdings | 794 | 505 | |
| YTD Return | +1.89% | +9.93% | |
| 1Y Return | +4.10% | +19.50% | |
| 3Y Return (annualized) | +5.10% | +19.33% | |
| 5Y Return (annualized) | +3.71% | +12.82% | |
| Volatility (annualized) | 1.1% | 15.3% | |
| Max Drawdown | -3.3% | -56.5% | |
| Fund Family | J.P. Morgan Asset Management | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | May 17, 2017 | Jan 22, 1993 |
JPST vs SPY Performance
JPMorgan Ultra-Short Income ETF (JPST) is a ETF from J.P. Morgan Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year JPST returned +4.10% while SPY returned +19.50%. Year to date, JPST is up 1.89% versus a gain of 9.93% for SPY.
Over three years, JPST compounded at +5.10% per year against +19.33% for SPY; over five years the annualized figures are +3.71% and +12.82% respectively. Across the full 9-year window we track, SPY has the edge at +8.74% annualized vs +2.19%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 1.1% for JPST. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -3.3% for JPST and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.39. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
JPST charges 0.18% per year while SPY charges 0.09%. On a $10,000 position that is $18 vs $9 annually, a gap of $9 per year that compounds over a long holding period. On income, JPST currently yields 4.55% against 1.01% for SPY.
Holdings Overlap
JPST and SPY share 1 holdings out of 1037 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in JPST | Weight in SPY | Difference |
|---|---|---|---|
| DIS | 0.01% | 0.26% | 0.25% |
Frequently Asked Questions
Which is cheaper, JPST or SPY?
JPST has an expense ratio of 0.18% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $9 per year of difference.
Which performed better, JPST or SPY?
Over the past year JPST returned +4.10% vs +19.50% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (9 years), JPST annualized +2.19% vs +8.74% for SPY. Past performance does not guarantee future results.
Which is riskier, JPST or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 1.1% for JPST. Worst drawdown: JPST -3.3% vs SPY -56.5%.
Should I hold both JPST and SPY?
JPST and SPY have a monthly-return correlation of 0.39, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between JPST and SPY?
JPST and SPY share 1 common holdings with a 0.0% weight overlap. Combined, they hold 1037 unique securities.
Which pays a higher dividend, JPST or SPY?
JPST yields 4.55% while SPY yields 1.01%, so JPST currently pays the higher dividend yield.
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