JPST vs USFR: Yield, Cost and Returns Compared
As of Nov 5, 2026, JPST yields more: 4.13% (current yield) against 3.71% for USFR. USFR is cheaper to own at 0.15% 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 USFR 2.7%. JPST's income is mostly taxable by states; USFR's is generally exempt from state income tax.
USFRWisdomTree Floating Rate Treasury Fund3.71%current yield| Compared | JPST | USFR |
|---|---|---|
| YieldCurrent yield | 4.13% | 3.71% |
| Expense ratio | 0.18% | 0.15% |
| Total return, 1 yr | +3.5% | +4.0% |
| Total return, 3 yr (a year) | +4.9% | +4.6% |
| Total return, 5 yr (a year) | +3.9% | +4.0% |
| Total return, 10 yr (a year) | — | +2.6% |
| Worst drop since May 2017 | -1.7% | -0.2% |
| Share price since May 2017 | +1% | +1% |
| Pays | Monthly | Monthly |
| Issuer | JPMorgan | WisdomTree |
| Assets | $42.5B | $21.3B |
| Started | 2017 | 2014 |
| Type | Ultra-short bond ETF | Treasury ETF |
Higher yield
JPST
4.13%
Lower cost
USFR
0.15%
Better total return
JPST
3.0%/yr
Smaller worst drop
USFR
-0.2%
Key facts: JPST vs USFR
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, JPST yields 4.13% (current yield) and USFR yields 3.71% (current yield).
- JPST's expense ratio is 0.18% and USFR's is 0.15%: $18 vs $15 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 USFR to $12,815 (2.7% a year), distributions reinvested.
- Their worst month-end drops over that time: -1.7% for JPST and -0.2% for USFR.
- JPST's income is mostly taxable by states, while USFR's is generally exempt from state income tax.
- 0 of JPST's top ten holdings are also in USFR's top ten.
Cite this page
SmarterDividends, "JPST vs USFR: Yield, Cost and Returns Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/jpst-vs-usfr
$10,000 in each, May 2017 to Oct 2026
Distributions reinvested, month-end values.
JPST became
$13,217
3.0% a year
USFR became
$12,815
2.7% a year
Year by year
| Year | JPST | USFR |
|---|---|---|
| 2025 | +5.0% | +4.2% |
| 2024 | +5.6% | +5.5% |
| 2023 | +5.1% | +5.2% |
| 2022 | +1.1% | +2.0% |
| 2021 | +0.1% | −0.0% |
| 2020 | +2.2% | +0.5% |
| 2019 | +3.3% | +2.0% |
| 2018 | +2.2% | +2.0% |
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.
- USFR · 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%
USFR
- DTRXX BNY Dreyfus Treasury Oblgtns Csh Mgt Ins0.0%
JPST vs USFR: questions
Is JPST or USFR better?
It depends on the job. JPST pays more today (4.13% vs 3.71%), USFR costs less, and JPST has the better total return over May 2017 to Oct 2026, with USFR 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 USFR?
JPST, at 4.13% against 3.71% for USFR as of Nov 5, 2026. On $10,000 that's about $413 vs $371 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 2.7% for USFR. $10,000 became $13,217 vs $12,815.
Which is cheaper, JPST or USFR?
USFR, with a 0.15% expense ratio against 0.18%.
How are JPST and USFR 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. USFR: 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.
Do JPST and USFR hold the same things?
Not at the top: none of their top ten holdings match.
Related comparisons
Yields, costs and holdings as each fund reports them (via Yahoo Finance), updated daily; returns from month-end prices with distributions reinvested. USFR leads on 4 of 6 measures above. For information only, not investment advice. Last fund data: Nov 5, 2026.