JPST vs VUSB: Grades, Fees and Holdings Compared

JPMorgan Ultra-Short Income ETF

JPSTANYSE Arca

Vanguard Ultra-Short Bond ETF

VUSBACboe

Overlap

No data

Expense ratio

VUSB −0.08pt a year

JPST0.18%VUSB0.10%

Avg volume · 30D

JPST 3.6×the volume

JPST7.1MVUSB1.97M

5Y return · a year

JPST +0.2pt

JPST+3.9%VUSB+3.7%

JPST vs VUSB Performance

Oct 29, 2021 – Oct 30, 2026

+21.1%JPST+20.0%VUSB

Expense ratio: JPST 0.18%; VUSB 0.10%, better
Fund size: JPST $42.5B; VUSB $9.9B
1Y total return: JPST +3.5%; VUSB +3.7%, better
Yield (12M): JPST 4.13%; VUSB 4.27%, better
Holdings: JPST 809; VUSB 1348
Avg volume (30D): JPST 7.1M sh, better; VUSB 1.97M sh
NAV per share: JPST $50.42; VUSB $49.62
52W range

ETF.net Grade

Pillar letters and Scores for JPST, VUSB, with each pillar’s weight
Pillar	JPST	VUSB
Cost30% weight	C53	A84Higher
Mission25% weight	A100	A100
Risk15% weight	C50	C53Higher
Tradability15% weight	A75Higher	B66
Holdings10% weight	A94Higher	A90
Durability5% weight	A88	A89Higher

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. JPST and VUSB are both graded against the same 78 Cash & Ultra-Short Income funds, so their Grades compare head to head.

Cash & Ultra-Short Income⁠

Category · 78 funds

See all 78 ›

VUSB ranks 3rd and JPST 19th of 78 funds in the Cash & Ultra-Short Income Category.

Rank 1AICSHiShares Ultra Short Duration Bond Active ETFScore 85
Rank 2ACLIPGlobal X 1-3 Month T-Bill ETFScore 82
Rank 3AVUSBVanguard Ultra-Short Bond ETFScore 81
Rank 4ATBLLInvesco Short Term Treasury ETFScore 80
Rank 17ASHViShares Trust iShares 0-1 Year Treasury Bond ETFScore 74
Rank 19AJPSTJPMorgan Ultra-Short Income ETFScore 73
Rank 20ABILZPIMCO Ultra Short Government Active Exchange-Traded FundScore 72

Our read on each fund

ETF.net Research

JPSTAJPMorgan Ultra-Short Income ETF

VUSBAVanguard Ultra-Short Bond ETF

In short

JPST An actively managed cash parking lot: JPST spreads short-term money across roughly 800 investment-grade bonds, floaters included, pays monthly, and has grown into one of the giants of the ultra-short aisle.

VUSB Vanguard's first actively managed bond ETF, run by its in-house fixed income team and priced at 0.10%. It holds investment-grade paper maturing inside two years: a step past a money fund, well short of a real bond fund.

Stated mandate

JPST JPST seeks current income while aiming to keep principal volatility low. It invests mainly in investment-grade, U.S.-dollar-denominated fixed, variable and floating-rate debt.

VUSB The fund seeks current income with limited price volatility while investing in diversified high- and medium-quality fixed-income securities. It expects to maintain a dollar-weighted average maturity of 0–2 years.

Why people hold it

JPST Roughly 800 investment-grade, dollar-denominated positions across fixed, variable and floating-rate debt, so no single issuer carries the load.
A multi-billion-dollar fund and one of the most actively traded names in the cash-alternative group, which usually means tight spreads on the way in and out.
0.18% a year, a shade under the category median, with income paid monthly.
Running since 2017, and one of the stronger implementations in its peer group.

VUSB At 0.10%, it costs half the typical ultra-short bond ETF and undercuts the other leaders in the group: SHV, PULS, FLDR and DUSB all charge 0.15%.
Active, not adventurous. The managers buy investment-grade bonds (A3-or-better high quality plus BBB-tier medium quality) and hold average maturity to zero-to-two years.vanguard.com
Income lands monthly, sourced from roughly 170 bonds, so no single issuer drives the outcome.
A multi-billion-dollar fund that trades actively, and the same portfolio team also runs a similar Vanguard ultra-short fund.vanguard.com

Worth knowing

JPST It measures itself against 3-month Treasury bills but reaches into corporate and floating-rate credit to get paid, so it carries credit risk a pure Treasury fund does not.
The share price floats. The mandate aims to keep principal volatility low, not to hold a fixed value.
Cheaper shelf-mates exist in the same aisle: ICSH charges 0.08%.

VUSB This is not a money market fund. No fixed $1 share price, and the market price can trade above or below the value of the holdings.vanguard.com
The mandate allows BBB-tier credit, a notch of risk a Treasury-only neighbor like SHV doesn't take.vanguard.com
Bonds this short reprice with short-term rates, so the monthly payout drifts up and down instead of holding a set level.vanguard.com

Full JPST profile⁠

Full VUSB profile⁠

JPST vs VUSB Holdings

How JPST and VUSB differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile79.9%
Asset classFixed Income100%

Sector

No Sector split for JPST and VUSB.

Country, concentration and asset class

Country by domicile

Country weights in JPST and VUSB, widest gap first
Country	More in JPSTMore in VUSB	JPST	VUSB
United States	VUSB +17.3 points	59.6%	76.9%
Cayman Islands	JPST +4.2 points	6.7%	2.5%
France	JPST +2.9 points	3.5%	0.6%
Sweden	JPST +2.6 points	2.7%	0.1%
United Kingdom	JPST +2.1 points	5.6%	3.5%
Canada	JPST +2.1 points	9.3%	7.2%
Spain	JPST +1.4 points	2.1%	0.7%
Norway	JPST +1.3 points	1.3%	0.0%
Other countries (17)	JPST +0.8 points	9.3%	8.5%

Outside the US: JPST 84% developed, 16% emerging.

Concentration

Weight in the 10 largest Holdings

JPST10.0%
VUSB11.2%

Securities held

JPST781
VUSB1,342

Asset class

JPST: Fixed Income
VUSB: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. JPST holds 781 securities, VUSB 1,342.

All 807 JPST holdings⁠All VUSB holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

JPST vs VUSB Cost

Overpaying JPST vs VUSB

$1,643

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

JPST 0.18%
$3,749
VUSB 0.10%
$2,106

Amount$10,000

Years30 years

Cost over time

JPST 0.18%
VUSB 0.10%
Overpaying

Year by year

Year	JPST	VUSB	Overpaying
10	$328	$183	$145
20	$1,281	$717	$564
30	$3,749	$2,106	$1,643

Expense ratio

0.18%JPST
0.10%VUSB, cheaper

VUSB0.10%JPST0.18%

0.03%1.00%

Middle half of Cash & Ultra-Short Income funds
Median 0.18%

VUSB 13th cheapest of 78 funds

JPST 36th cheapest of 78 funds

JPST vs VUSB Dividends

Last 12 months to Oct 30, 2026

Yield (12M): JPST 4.13%; VUSB 4.27%, better
Payout (12M): JPST $2.08; VUSB $2.12
Last payment: JPST $0.17; VUSB $0.18
Ex-dividend: JPST Oct 1, 2026; VUSB Oct 1, 2026
Paid on: JPST Oct 5, 2026; VUSB Oct 5, 2026
Frequency: JPST Monthly; VUSB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

JPSTMonthly · 45 paymentsAll JPST payments⁠

VUSBMonthly · 45 paymentsAll VUSB payments⁠

JPST vs VUSB Risk

Fall from peak · 5 years

JPST
VUSB

Risk facts

VolatilityStd dev, 3 years: JPST 0.6%, betterVUSB 0.8%
Return per unit of riskSharpe ratio, 3 years: JPST 0.78VUSB 0.86, better
Worst fallMax drawdown, 5 years: JPST −0.6%, betterVUSB −1.7%
Market sensitivityBeta, 5 years: JPST 0.06VUSB 0.10; Market = 1

JPST and VUSB in the news

All news⁠

Best ETFs
T-bill ETFs: Vanguard’s VBIL undercuts SGOV, BIL and CLIP at 0.06%
Updated Nov 2, 2026JPST

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JPST vs VUSB

In short

Stated mandate

Why people hold it

Worth knowing

How JPST and VUSB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

T-bill ETFs: Vanguard’s VBIL undercuts SGOV, BIL and CLIP at 0.06%

How JPST and VUSB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings