Average Daily Volume
7.34M
Fund Overview
The JPMorgan Ultra-Short Income ETF (JPST) is an exchange-traded fund that seeks to provide current income while maintaining liquidity and low price volatility. The fund invests primarily in investment-grade, U.S. dollar-denominated short-term fixed income securities, including corporate bonds, U.S. government and agency securities, and asset-backed securities. JPST aims to offer a higher yield than traditional money market funds while maintaining a relatively stable net asset value (NAV). The fund is actively managed by J.P. Morgan's fixed income team, leveraging their expertise in credit research and risk management to optimize returns within its short-duration mandate. With an average duration of less than one year, JPST is designed for investors seeking a conservative income solution with minimal interest rate risk.
- Asset Class
-
Bond
- Industry
-
N/A
- Annual Dividend Rate
-
- Smart Beta
-
No
- Leveraged / Inverse
-
N/A / No
- Dividend Quality - Yield
-
- 4.52 %
- Currency Hedged
-
No
- Portfolio Turnover
-
77 %
- Dividend Date
-
Why Invest in the JPST ETF?
Potential Benefits
- Higher yield potential compared to traditional money market funds while maintaining low volatility.
- Active management by J.P. Morgan's experienced fixed income team, allowing for dynamic credit selection.
- Short duration profile reduces sensitivity to interest rate changes, making it less volatile than longer-term bond funds.
- Diversified portfolio of investment-grade securities helps mitigate credit risk.
- Liquidity and stability make it suitable for conservative investors or as a cash alternative.
Potential Risks
- Credit risk: Holdings in corporate bonds and other credit-sensitive securities could default or be downgraded.
- Interest rate risk: While minimal, rising rates could still negatively impact the fund's NAV.
- Liquidity risk: Some holdings may become illiquid during market stress, potentially affecting the fund's ability to meet redemptions.
- Yield risk: In a low-rate environment, the fund's income potential may be limited.
- Active management risk: Poor security selection could lead to underperformance relative to peers or benchmarks.
RSI data unavailable or insufficient history.
Monthly Returns (%)
| Year |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
| 2026 |
+0.4%
|
+0.3%
|
0.0%
|
+0.3%
|
+0.4%
|
+0.2%
|
+0.3%
|
+0.3%
|
0.0%
|
+0.1%
|
-
|
-
|
| 2025 |
+0.5%
|
+0.5%
|
+0.3%
|
+0.4%
|
+0.3%
|
+0.5%
|
+0.3%
|
+0.6%
|
+0.4%
|
+0.5%
|
+0.3%
|
+0.4%
|
| 2024 |
+0.5%
|
+0.3%
|
+0.4%
|
+0.4%
|
+0.6%
|
+0.4%
|
+0.7%
|
+0.6%
|
+0.6%
|
+0.1%
|
+0.4%
|
+0.4%
|
| 2023 |
+0.5%
|
+0.2%
|
+0.3%
|
+0.4%
|
+0.1%
|
+0.2%
|
+0.5%
|
+0.5%
|
+0.3%
|
+0.5%
|
+0.7%
|
+0.7%
|
| 2022 |
0.0%
|
-0.2%
|
-0.1%
|
-0.1%
|
0.0%
|
0.0%
|
+0.2%
|
+0.3%
|
+0.1%
|
0.0%
|
+0.6%
|
+0.5%
|
| 2021 |
0.0%
|
0.0%
|
0.0%
|
+0.1%
|
+0.1%
|
0.0%
|
+0.1%
|
+0.1%
|
0.0%
|
-0.2%
|
0.0%
|
-0.1%
|
| 2020 |
+0.3%
|
+0.2%
|
-1.7%
|
+1.5%
|
+0.7%
|
+0.4%
|
+0.4%
|
+0.1%
|
0.0%
|
+0.1%
|
+0.1%
|
+0.2%
|
| 2019 |
+0.4%
|
+0.2%
|
+0.4%
|
+0.3%
|
+0.3%
|
+0.3%
|
+0.2%
|
+0.3%
|
+0.2%
|
+0.3%
|
+0.1%
|
+0.3%
|
| 2018 |
+0.2%
|
0.0%
|
+0.1%
|
+0.2%
|
+0.3%
|
+0.1%
|
+0.3%
|
+0.3%
|
+0.2%
|
+0.2%
|
+0.2%
|
+0.2%
|
| 2017 |
-
|
-
|
-
|
-
|
-
|
+0.1%
|
+0.2%
|
+0.2%
|
-0.1%
|
+0.4%
|
+0.1%
|
+0.1%
|
< -5%
-5% to -2%
-2% to 0%
0%
0% to +2%
+2% to +5%
> +5%
Top Holdings (by weight)
| Symbol |
Company Name |
Weight |
No holdings data available.
Related ETFs: JPST vs Peers
Comparison highlights key differences on cost, coverage, and focus within sector ETFs.
Investment Strategy
JPST employs an active management strategy focused on short-duration, investment-grade fixed income securities. The fund's portfolio managers conduct rigorous credit analysis to select securities that offer attractive risk-adjusted returns within the ultra-short maturity spectrum (typically 0-12 months). The strategy emphasizes liquidity management, maintaining sufficient cash and highly liquid securities to meet potential redemption needs. Unlike index-tracking ETFs, JPST has flexibility to adjust sector allocations and security selection based on market conditions and credit outlooks. The fund may invest up to 20% in below-investment-grade securities if the managers identify compelling opportunities, though it primarily maintains an investment-grade focus. Portfolio turnover tends to be high due to the short maturity profile of holdings.
Frequently Asked Questions
What is the average duration of JPST's portfolio?
JPST typically maintains an average portfolio duration of less than one year, making it relatively insensitive to interest rate movements compared to longer-duration bond funds.
How does JPST differ from a money market fund?
While both offer stability and liquidity, JPST can invest in a broader range of short-term securities (including corporate bonds) and may offer higher yields, but its NAV can fluctuate slightly unlike money market funds that maintain a stable $1 share price.
Does JPST pay monthly dividends?
Yes, JPST distributes income to shareholders on a monthly basis, making it attractive for investors seeking regular income payments.
What percentage of JPST's holdings are investment-grade?
The fund primarily invests in investment-grade securities (typically 80% or more), though it may allocate up to 20% to below-investment-grade bonds if the managers identify attractive opportunities.
How has JPST performed during periods of rising interest rates?
Due to its ultra-short duration, JPST has historically shown minimal NAV fluctuation during rate hike cycles, though its yield tends to adjust upward as the portfolio turns over into higher-yielding securities.
Industry Overview
The JPMorgan Ultra-Short Income ETF (JPST) operates in the ultra-short duration bond category, which focuses on fixed income securities with very short maturities (typically less than one year). This segment appeals to investors seeking higher yields than money market funds while maintaining capital preservation and liquidity. Ultra-short bond ETFs like JPST have gained popularity as cash management tools, particularly in environments where traditional savings accounts and money market funds offer minimal yields. The category benefits from institutional-grade credit research and active management, which can add value through security selection in a typically low-volatility asset class. Investors should understand that while these funds are relatively stable, they are not risk-free and can experience NAV fluctuations unlike money market funds that maintain a stable $1 NAV.
Alternative Comparison
Compared to similar ultra-short bond ETFs like BIL (which tracks 1-3 month Treasury bills) or SHV (tracking 1-12 month Treasuries), JPST offers potentially higher yields by including corporate credit exposure while maintaining a similarly short duration profile. Unlike purely Treasury-focused funds, JPST's active management allows it to seek opportunities across various sectors of the short-term credit markets. Among actively managed peers like NEAR (iShares Short Maturity Bond ETF) or ICSH (BlackRock Ultra Short-Term Bond ETF), JPST distinguishes itself with J.P. Morgan's proprietary credit research capabilities and typically maintains a slightly shorter duration than some competitors. All these funds share the goal of providing stable income with minimal interest rate risk, but their specific approaches to credit selection and yield optimization differ.
Issuer Overview
J.P. Morgan Asset Management is one of the world's largest and most experienced asset managers, with over $2.8 trillion in assets under management (as of 2023). The firm has particular expertise in fixed income investing, managing money market and short-duration strategies for institutional and retail investors globally. J.P. Morgan's credit research capabilities and risk management frameworks support the active management approach used in JPST. The firm has a long history in ETF innovation, particularly in the fixed income space, and maintains strong liquidity provisions for its ETF products.
Conclusion
The JPMorgan Ultra-Short Income ETF (JPST) represents a compelling option for investors seeking enhanced yield potential compared to money market funds while maintaining a conservative risk profile. Its active management approach, backed by J.P. Morgan's extensive fixed income expertise, allows for dynamic positioning in the short-term credit markets. While not completely risk-free, JPST's focus on investment-grade securities and ultra-short duration makes it suitable for capital preservation objectives or as part of a diversified portfolio's cash allocation. Investors should weigh its slightly higher yield potential against the incremental credit risk when comparing to Treasury-only ultra-short ETFs.
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