JPST vs UCON: Holdings Overlap
JPSTJPMorgan Ultra-Short Income ETF
JPMorgan · 727 holdings · $40.4B · as of 2026-05-31
UCONFirst Trust Smith Unconstrained Bond ETF
First Trust · 504 holdings · $3.3B · as of 2026-05-31
How similar are JPST and UCON?
JPMorgan Ultra-Short Income ETF (JPST, by JPMorgan) holds 727 positions; First Trust Smith Unconstrained Bond ETF (UCON, by First Trust) holds 504. They have 18 holdings in common, and by portfolio weight the two funds are 3.8% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 3.8%Sum of the smaller weight of each shared holding
- Shared Holdings
- 18JPST holds 727 · UCON holds 504
- Weight in Shared Holdings
- JPST 5%·UCON 5%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in JPST
709 of 727 positions (74.2% of the fund) are not held by UCON. Showing the top 30 by weight.
- U.S. Treasury Notes0.70%
- Athene Global Funding0.58%
- U.S. Treasury Notes0.52%
- AbbVie, Inc.0.51%
- Federation des Caisses Desjardins du Quebec0.50%
- T-Mobile USA, Inc.0.47%
Only in UCON
486 of 504 positions (93.4% of the fund) are not held by JPST. Showing the top 30 by weight.
- U.S. Treasury Bonds2.13%
- U.S. Treasury Bonds2.12%
- U.S. Treasury Notes1.69%
- U.S. Treasury Notes1.18%
- U.S. Treasury Notes/Bonds1.04%
- FN BM77550.96%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| JPST | +0.4% | +2.1% | +4.0% | +5.1% | +3.7% | — | 4.20% |
| UCON | -0.1% | +0.7% | +3.7% | +5.5% | +2.7% | — | 4.72% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in JPST vs UCON →
Shared Holdings(18)
The top 10 shared positions account for 93% of the overlap, led by U.S. Treasury Notes/Bonds, Manufacturers & Traders Trust Co. and Constellation Energy Generation LLC.
| U.S. Treasury Notes/Bonds | 2.31% | 2.33% | 2.31% |
|---|---|---|---|
| Manufacturers & Traders Trust Co. | 0.28% | 0.26% | 0.26% |
| Constellation Energy Generation LLC | 0.18% | 0.26% | 0.18% |
| Lseg US Fin Corp. | 0.31% | 0.18% | 0.18% |
| Bank of America Corp. | 0.18% | 0.11% | 0.11% |
| Morgan Stanley Private Bank, N.A. | 0.10% | 0.30% | 0.10% |
| Bank of America Corp. | 0.09% | 0.38% | 0.09% |
| Constellation Energy Generation, LLC | 0.08% | 0.30% | 0.08% |
| General Motors Financial Co., Inc. | 0.08% | 0.25% | 0.08% |
| Howmet Aerospace, Inc. | 0.08% | 0.25% | 0.08% |
| AerCap Ireland Capital DAC | 0.28% | 0.06% | 0.06% |
| Howmet Aerospace, Inc. | 0.05% | 0.25% | 0.05% |
| Element Fleet Management Corp. | 0.05% | 0.18% | 0.05% |
| Capital One Financial Corp. | 0.59% | 0.05% | 0.05% |
| Santander UK Group Holdings plc | 0.04% | 0.05% | 0.04% |
| Bank of America Corp. | 0.02% | 0.02% | 0.02% |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 0.01% | 0.02% | 0.01% |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 0.01% | 0.00% | 0.00% |
Frequently Asked Questions
How much do JPST and UCON overlap?
JPST and UCON overlap by 3.8% of portfolio weight. They share 18 holdings (JPST holds 727 positions and UCON holds 504), based on each fund's latest SEC-reported holdings.
Is it redundant to own both JPST and UCON?
The two portfolios are 3.8% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of JPST and UCON?
The largest positions held by both funds are U.S. Treasury Notes/Bonds, Manufacturers & Traders Trust Co., Constellation Energy Generation LLC, Lseg US Fin Corp. and Bank of America Corp.. Together the top 10 shared positions account for 93% of the total overlap.
What does JPST own that UCON doesn't?
709 positions (74.2% of JPST) are unique to JPST, led by U.S. Treasury Notes, Athene Global Funding and U.S. Treasury Notes. In the other direction, 486 positions (93.4% of UCON) are unique to UCON.