JPMorgan High Yield Municipal ETF
$47.10+0.27 (+0.58%)
- 0.52%
- $297M
- −2.8%
- 4.70%
- 0.1M sh
- $46.73
- low $46.27high $51.19
The ETF.net JMHI Grade
C
Score 47 out of 100
- 16 of 19
Score 47 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F6 out of 100Rank 18 of 19Mission
Whether the fund did what it promised, tested against its stated mandate.A91 out of 100Rank 6 of 18Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D38 out of 100Rank 15 of 19Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C52 out of 100Rank 9 of 19Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B63 out of 100Rank 8 of 19Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A74 out of 100Rank 4 of 19
Our read on JMHI
CMost muni ETFs stick to rated, investment-grade paper. JMHI works the other end: an active high-yield muni book, free to hold up to 100% below-investment-grade or unrated bonds. It ran as a mutual fund from 2007 before converting to an ETF in 2023.
The Fund seeks a high level of current income exempt from federal income taxes by investing in tax-exempt municipal securities, with an emphasis on high-yield municipal bonds.
Why people hold it
- Income is the whole job: the fund targets current income exempt from federal income tax and pays out monthly.am.jpmorgan.com
- Not a 2023 startup idea. The strategy launched as a JPMorgan mutual fund in 2007 and carried the same objective and substantially similar strategy into the ETF wrapper.am.jpmorgan.com
- The mandate is wide: municipal bonds of any maturity, with room to go up to 100% below investment grade or unrated, so the credit desk can hunt anywhere in the muni market.mutualfunds.comam.jpmorgan.com
- Spreads that credit bet across a couple hundred separate bonds rather than a concentrated handful, and it stays tightly inside its stated tax-exempt muni mandate.
Worth knowing
- At 0.35% it runs above the typical muni bond ETF in its peer group, most of which simply track an index. That is the cost of a credit team picking bonds.
- Thinly traded next to the giant muni index funds, so spreads can widen. Limit orders are the usual tool for funds like this.
- High-yield munis carry real credit risk. Below-investment-grade and unrated issuers can miss payments, and the fund faces no cap on how much of that it holds.mutualfunds.com
JMHI Holdings
- Bonds
- 263
- 15%
- Jpmi Tax Free Mmktf Im
Sectors
- Technology29.0%
- Health Care14.5%
- Financials12.3%
- Consumer Discretionary10.6%
- Industrials9.0%
- Communication7.8%
- Consumer Staples5.2%
- Energy4.9%
- Materials2.4%
- Real Estate2.3%
- Utilities2.2%
Geography
- United States100.00%
JMHI Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.
JMHI$9,722
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | JMHI |
|---|---|
| Year to date | −3.7% |
| 1 month | −2.9% |
| 3 months | −5.6% |
| 1 year | −2.8% |
| 3 years | +4.4% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | JMHI |
|---|---|---|
| 2026 YTD | −3.7% | |
| 2025 | +4.6% | |
| 2024 | +5.9% | |
| 2023 | +1.4% |
JMHI in the news
JMHI Dividends
- 4.70%
- $2.20
- $0.18 per share
- Monthly
Distribution history
JMHI Risk
- 6.2%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.01
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −7.3%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.97
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
JMHI Cost
0.52%
JMHI0.52%
- The middle half of High-Yield Municipal Bonds funds
- Median 0.40%
17 of the 19 High-Yield Municipal Bonds funds charge less.
Other funds in High-Yield Municipal Bonds
- BFCALFirst Trust California Municipal High Income ETFExpense ratio 0.49%1 year return −2.3%
- CHTAXNomura National High-Yield Municipal Bond ETFExpense ratio 0.49%1 year return −2.2%
- DMFLXFirst Trust Flexible Municipal High Income ETFExpense ratio 0.49%1 year return −2.7%
- DFMNYFirst Trust New York Municipal High Income ETFExpense ratio 0.49%1 year return −3.3%
- FAMHIAmerican Beacon Aberdeen Municipal High Income ETFExpense ratio 0.55%1 year return —