JPST vs TBLL: Yield, Cost and Returns Compared
As of Nov 5, 2026, JPST yields more: 4.13% (current yield) against 3.59% for TBLL. TBLL is cheaper to own at 0.08% a year vs 0.18%. Over the same 9 years (May 2017 to Oct 2026), JPST returned 3.0% a year with distributions reinvested, and TBLL 2.4%. JPST's income is mostly taxable by states; TBLL's is generally exempt from state income tax.
| Compared | JPST | TBLL |
|---|---|---|
| YieldCurrent yield | 4.13% | 3.59% |
| Expense ratio | 0.18% | 0.08% |
| Total return, 1 yr | +3.5% | +3.6% |
| Total return, 3 yr (a year) | +4.9% | +4.4% |
| Total return, 5 yr (a year) | +3.9% | +3.7% |
| Worst drop since May 2017 | -1.7% | -0.2% |
| Share price since May 2017 | +1% | +0% |
| Pays | Monthly | Monthly |
| Issuer | JPMorgan | Invesco |
| Assets | $42.5B | $2.9B |
| Started | 2017 | 2017 |
| Type | Ultra-short bond ETF | Treasury ETF |
Higher yield
JPST
4.13%
Lower cost
TBLL
0.08%
Better total return
JPST
3.0%/yr
Smaller worst drop
TBLL
-0.2%
Key facts: JPST vs TBLL
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, JPST yields 4.13% (current yield) and TBLL yields 3.59% (current yield).
- JPST's expense ratio is 0.18% and TBLL's is 0.08%: $18 vs $8 a year on $10,000.
- From May 2017 to Oct 2026, $10,000 in JPST grew to $13,217 (3.0% a year) and $10,000 in TBLL to $12,531 (2.4% a year), distributions reinvested.
- Their worst month-end drops over that time: -1.7% for JPST and -0.2% for TBLL.
- JPST's income is mostly taxable by states, while TBLL's is generally exempt from state income tax.
Cite this page
SmarterDividends, "JPST vs TBLL: Yield, Cost and Returns Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/jpst-vs-tbll
$10,000 in each, May 2017 to Oct 2026
Distributions reinvested, month-end values.
JPST became
$13,217
3.0% a year
TBLL became
$12,531
2.4% a year
Year by year
| Year | JPST | TBLL |
|---|---|---|
| 2025 | +5.0% | +4.2% |
| 2024 | +5.6% | +5.1% |
| 2023 | +5.1% | +5.0% |
| 2022 | +1.1% | +1.1% |
| 2021 | +0.1% | +0.0% |
| 2020 | +2.2% | +0.6% |
| 2019 | +3.3% | +1.8% |
| 2018 | +2.2% | +1.7% |
Total return each calendar year, distributions reinvested.
What each holds and how it's taxed
- JPST · Ultra-short bond ETF
- Holds short-term bonds, which can include corporate or asset-backed debt, for a little more yield than T-bills and a little more price movement.
- TBLL · Treasury ETF
- Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies).
General information, not tax advice. Every cash fund by yield →
Top holdings
No overlap in the top ten.
JPST
- MGMXX JPMorgan US Government MMkt IM2.9%
TBLL
- Holdings not reported.
JPST vs TBLL: questions
Is JPST or TBLL better?
It depends on the job. JPST pays more today (4.13% vs 3.59%), TBLL costs less, and JPST has the better total return over May 2017 to Oct 2026, with TBLL holding up better in its worst stretch. For cash you may need soon, yield after tax and how easily you can get the money out matter more than past returns.
Which pays a higher dividend, JPST or TBLL?
JPST, at 4.13% against 3.59% for TBLL as of Nov 5, 2026. On $10,000 that's about $413 vs $359 a year at today's rates.
Which has the better total return?
JPST. From May 2017 to Oct 2026, it returned 3.0% a year with distributions reinvested, against 2.4% for TBLL. $10,000 became $13,217 vs $12,531.
Which is cheaper, JPST or TBLL?
TBLL, with a 0.08% expense ratio against 0.18%.
How are JPST and TBLL taxed?
JPST: Holds short-term bonds, which can include corporate or asset-backed debt, for a little more yield than T-bills and a little more price movement. TBLL: Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies). General information, not tax advice.
Yields, costs and holdings as each fund reports them (via Yahoo Finance), updated daily; returns from month-end prices with distributions reinvested. For information only, not investment advice. Last fund data: Nov 5, 2026.