JPST vs. MINT: What’s The Difference?

The JPMorgan Ultra-Short Income ETF (JPST) and the PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (MINT) are both among the Top 100 ETFs. JPST is a JPMorgan Ultrashort Bond fund and MINT is a PIMCO Ultrashort Bond fund. So, what’s the difference between JPST and MINT? And which fund is better?

The expense ratio of JPST is 0.18 percentage points lower than MINT’s (0.18% vs. 0.36%). JPST is mostly comprised of A bonds and MINT has a high exposure to Others bond. Overall, JPST has provided higher returns than MINT over the past 3 years.

In this article, we’ll compare JPST vs. MINT. We’ll look at industry exposure and holdings, as well as at their performance and annual returns. Moreover, I’ll also discuss JPST’s and MINT’s fund composition, portfolio growth, and risk metrics and examine how these affect their overall returns.

Summary

JPST MINT
Name JPMorgan Ultra-Short Income ETF PIMCO Enhanced Short Maturity Active Exchange-Traded Fund
Category Ultrashort Bond Ultrashort Bond
Issuer JPMorgan PIMCO
AUM 17.32B 14.02B
Avg. Return 2.57% 1.52%
Div. Yield 0.94% 0.56%
Expense Ratio 0.18% 0.36%

The JPMorgan Ultra-Short Income ETF (JPST) is a Ultrashort Bond fund that is issued by JPMorgan. It currently has 17.32B total assets under management and has yielded an average annual return of 2.57% over the past 10 years. The fund has a dividend yield of 0.94% with an expense ratio of 0.18%.

The PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (MINT) is a Ultrashort Bond fund that is issued by PIMCO. It currently has 14.02B total assets under management and has yielded an average annual return of 1.52% over the past 10 years. The fund has a dividend yield of 0.56% with an expense ratio of 0.36%.

JPST’s dividend yield is 0.38% higher than that of MINT (0.94% vs. 0.56%). Also, JPST yielded on average 1.05% more per year over the past decade (2.57% vs. 1.52%). The expense ratio of JPST is 0.18 percentage points lower than MINT’s (0.18% vs. 0.36%).

Fund Composition

Holdings

JPST - Holdings

JPST Bond Sectors Weight
A 39.21%
BBB 36.75%
AAA 14.9%
AA 9.14%
Others 0.0%
Below B 0.0%
B 0.0%
BB 0.0%
US Government 0.0%

JPST’s Top Bond Sectors are ratings of A, BBB, AAA, AA, and Others at 39.21%, 36.75%, 14.9%, 9.14%, and 0.0%. The fund is less weighted towards Below B (0.0%), B (0.0%), and BB (0.0%) rated bonds.

MINT - Holdings

MINT Bond Sectors Weight
Others 0.0%
Below B 0.0%
B 0.0%
BB 0.0%
BBB 0.0%
A 0.0%
AA 0.0%
AAA 0.0%
US Government 0.0%

MINT’s Top Bond Sectors are ratings of Others, Below B, B, BB, and BBB at 0.0%, 0.0%, 0.0%, 0.0%, and 0.0%. The fund is less weighted towards A (0.0%), AA (0.0%), and AAA (0.0%) rated bonds.

Risk Analysis

JPST MINT
Mean Return 0 0.12
R-squared 0 4.7
Std. Deviation 0 1.08
Alpha 0 0.62
Beta 0 0.08
Sharpe Ratio 0 0.78
Treynor Ratio 0 10.8

The JPMorgan Ultra-Short Income ETF (JPST) has a Sharpe Ratio of 0 with a R-squared of 0 and a Treynor Ratio of 0. Its Mean Return is 0 while JPST’s Beta is 0. Furthermore, the fund has a Standard Deviation of 0 and a Alpha of 0.

The PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (MINT) has a Sharpe Ratio of 0.78 with a Mean Return of 0.12 and a Alpha of 0.62. Its R-squared is 4.7 while MINT’s Treynor Ratio is 10.8. Furthermore, the fund has a Beta of 0.08 and a Standard Deviation of 1.08.

JPST’s Mean Return is 0.12 points lower than that of MINT and its R-squared is 4.70 points lower. With a Standard Deviation of 0, JPST is slightly less volatile than MINT. The Alpha and Beta of JPST are 0.62 points lower and 0.08 points lower than MINT’s Alpha and Beta.

Performance

Annual Returns

JPST vs. MINT - Annual Returns

Year JPST MINT
2020 2.17% 1.63%
2019 3.36% 3.3%
2018 2.19% 1.72%
2017 0.0% 1.9%
2016 0.0% 1.99%
2015 0.0% 0.52%
2014 0.0% 0.53%
2013 0.0% 0.72%
2012 0.0% 2.48%
2011 0.0% 0.42%
2010 0.0% 1.72%

JPST had its best year in 2019 with an annual return of 3.36%. JPST’s worst year over the past decade yielded 0.0% and occurred in 2017. In most years the JPMorgan Ultra-Short Income ETF provided moderate returns such as in 2013, 2012, and 2011 where annual returns amounted to 0.0%, 0.0%, and 0.0% respectively.

The year 2019 was the strongest year for MINT, returning 3.3% on an annual basis. The poorest year for MINT in the last ten years was 2011, with a yield of 0.42%. Most years the PIMCO Enhanced Short Maturity Active Exchange-Traded Fund has given investors modest returns, such as in 2020, 2018, and 2010, when gains were 1.63%, 1.72%, and 1.72% respectively.

Portfolio Growth

JPST vs. MINT - Portfolio Growth

Fund Initial Balance Final Balance CAGR
JPST $10,000 $10,791 2.57%
MINT $10,000 $10,678 1.52%

A $10,000 investment in JPST would have resulted in a final balance of $10,791. This is a profit of $791 over 3 years and amounts to a compound annual growth rate (CAGR) of 2.57%.

With a $10,000 investment in MINT, the end total would have been $10,678. This equates to a $678 profit over 3 years and a compound annual growth rate (CAGR) of 1.52%.

JPST’s CAGR is 1.05 percentage points higher than that of MINT and as a result, would have yielded $113 more on a $10,000 investment. Thus, JPST outperformed MINT by 1.05% annually.


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