Which returned more over the last year, JPST or TBLL?

In the year to Oct 20, 2026, with distributions reinvested, JPST returned +3.4% and TBLL +3.6%.

Which is cheaper, JPST or TBLL?

TBLL is cheaper, by 0.10 percentage points a year. That is about $10 on $10,000 held for a year. Fees come from each fund's prospectus.

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JPST vs TBLL: Differences, Returns & Fees

On May 31, 2026 JPST's duration was 0.8 years and TBLL's 0.3; TBLL charges 0.08% to JPST's 0.18%. Net assets on Oct 20, 2026: $42.8bn for JPMorgan Ultra-Short Income ETF and $2.6bn for Invesco Short Term Treasury ETF.

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Answers cite the figures on this page.

TBLL costs 0.10 points a year less; their one-year returns differ by 0.2 points; JPST is 16.2 times larger.

JPST vs TBLL: Differences, Returns & Fees
	JPST	TBLL
Expense ratio	0.18%	0.08%
Net assets	$42.8bn	$2.6bn
Total return, 1 year	+3.4%	+3.6%
What it tracks	No index, actively managed	ICE U.S. Treasury Short Bond Index
Holdings in common	1%

Holdings in common uses holdings dated May 31, 2026.

+3.4%

JPST total return, 1 year

+3.6%

TBLL total return, 1 year

0.18%

JPST expense ratio

0.08%

TBLL expense ratio

Client brief · page 1 of 2Report BR-A7AA099328

JPST and TBLL 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 TBLL follows ICE U.S. Treasury Short Bond Index.
Holdings in common. 1% of the weight is in the same securities (holdings dated May 31, 2026).
Number of holdings. JPST holds 824 positions and TBLL holds 93.

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 TBLL hold 1% of their money in the same securities at the same weight. Holdings dated May 31, 2026.

50%

half

1% in common

Positions both hold, largest shared weight first

Holding JPST TBLL

U.S. Treasury Notes, due Sep 30, 2026 0.70% 1.87%

Only in JPST

U.S. Treasury Notes, due Feb 29, 2028 2.31%

Ventas Realty LP, due Jun 1, 2026 0.65%

Capital One Financial Corp., due Nov 2, 2027 0.59%

National Bank of Canada, due Apr 5, 2027 0.59%

Athene Global Funding, due Aug 27, 2026 0.58%

First Abu Dhabi Bank PJSC, due Nov 10, 2026 0.58%

Energy Transfer LP, due Jun 1, 2026 0.58%

DNB Bank ASA, due Feb 24, 2027 0.54%

Only in TBLL

U.S. Treasury Bills, due Jun 18, 2026 2.79%

U.S. Treasury Bills, due Jun 4, 2026 2.68%

U.S. Treasury Bills, due Jun 25, 2026 2.65%

U.S. Treasury Bills, due Jul 2, 2026 2.62%

U.S. Treasury Bills, due Jul 9, 2026 2.57%

U.S. Treasury Bills, due Jul 16, 2026 2.30%

U.S. Treasury Bills, due Sep 3, 2026 2.23%

U.S. Treasury Bills, due Oct 29, 2026 2.15%

Check overlap with more funds →

On the same fields

JPST

JPMorgan Ultra-Short Income ETF

TBLL

Invesco Short Term Treasury ETF

Where it sits Bond ETF Bond ETF

Issuer JPMorgan Invesco

What it is Actively managed Tracks an index

Total return, 1 year +3.4% +3.6%

Its benchmark over the same days −1.9% (AGG) +3.6% (TRSY)

Gap to its benchmark +5.4 pts vs AGG 0.0 pts vs TRSY

Expense ratio 0.18% 0.08%

Holdings 824 93

Net assets $42.8bn $2.6bn

JPST and TBLL 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 TBLL

TBLL tracks an index. Over the year to Oct 20, 2026 it returned +3.6% with distributions reinvested, against +3.6% for its benchmark, the ICE U.S. Treasury Short Bond Index. The prospectus expense ratio is 0.08% a year.

Questions people ask

Which returned more over the last year, JPST or TBLL?: In the year to Oct 20, 2026, with distributions reinvested, JPST returned +3.4% and TBLL +3.6%.
Which is cheaper, JPST or TBLL?: TBLL is cheaper, by 0.10 percentage points a year. That is about $10 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

CLIP vs JPST FLDR vs JPST BSCQ vs JPST FLRN vs JPST BIL vs TBLL SHV vs TBLL PULS vs TBLL TBLL vs USFR

JPST on its own →TBLL on its own →Hold both: look the portfolio through →Rankings →JPST dividend history →JPST holdings →TBLL dividend history →TBLL holdings →Standards and sources →

Where these figures came from

JPST filings on SEC EDGAR ↗JPST prospectus with the expense ratio (SEC) ↗JPMorgan website ↗TBLL filings on SEC EDGAR ↗TBLL prospectus with the expense ratio (SEC) ↗Invesco page for TBLL ↗

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 TBLL, data as of Oct 20, 2026. https://etfiq.com/compare/any/jpst-vs-tbll

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.