JPST vs TBIL: Differences, Returns & Fees
On May 31, 2026 JPST's duration was 0.8 years and TBIL's 0.2; TBIL charges 0.15% to JPST's 0.18%. Net assets: $42.8bn on Oct 20, 2026 for JPMorgan Ultra-Short Income ETF, and $7.6bn on Oct 19, 2026 for F/m US Treasury 3 Month Bill Fund.
TBIL costs 0.03 points a year less; their one-year returns differ by 0.3 points; JPST is 5.6 times larger.
| JPST | TBIL | |
|---|---|---|
| Expense ratio | 0.18% | 0.15% |
| Net assets, as of Oct 19, 2026 | $42.8bn | $7.6bn |
| Total return, 1 year | +3.4% | +3.7% |
| What it tracks | No index, actively managed | Bloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index (I00087US) |
| Holdings in common | 0% | |
Holdings in common uses holdings dated May 31, 2026.
JPST and TBIL are built for the same job. How do they differ in cost, holdings and results?
- What each follows. JPST follows No index, actively managed and TBIL follows Bloomberg US Treasury Bellwether 3M Total Return USD Unhedged Index (I00087US).
- Holdings in common. 0% of the weight is in the same securities (holdings dated May 31, 2026).
- Number of holdings. JPST holds 824 positions and TBIL holds 1.
Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.
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What they hold in common
By the books each fund has filed, JPST and TBIL hold 0% of their money in the same securities at the same weight. Holdings dated May 31, 2026.
half
0% in common
On the same fields
JPST and TBIL on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.
About JPST
JPST is actively managed and tracks no index. Over the year to Oct 20, 2026 it returned +3.4% with distributions reinvested, against −1.9% for its benchmark, the Bloomberg U.S. Aggregate Index. The prospectus expense ratio is 0.18% a year.
About TBIL
TBIL tracks an index. Over the year to Oct 20, 2026 it returned +3.7% with distributions reinvested. The prospectus expense ratio is 0.15% a year.
Questions people ask
- Which returned more over the last year, JPST or TBIL?
- In the year to Oct 20, 2026, with distributions reinvested, JPST returned +3.4% and TBIL +3.7%.
- Which is cheaper, JPST or TBIL?
- TBIL is cheaper, by 0.03 percentage points a year. That is about $3 on $10,000 held for a year. Fees come from each fund's prospectus.
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Cite this pageCitation, APA and Markdown
ETFIQ, JPST against TBIL, data as of Oct 20, 2026. https://etfiq.com/compare/any/jpst-vs-tbil
ETFIQ. (Oct 20, 2026). JPST against TBIL. Retrieved from https://etfiq.com/compare/any/jpst-vs-tbil
[JPST against TBIL (ETFIQ, Oct 20, 2026)](https://etfiq.com/compare/any/jpst-vs-tbil)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.