JPMorgan High Yield Municipal ETF
$47.61−0.48 (−1.00%)
- Expense ratio
- 0.35%
- Fund size
- $291M
- 1Y return
- −0.3%
- Yield · Last 12 months
- 4.62%
- Holdings
- 256
- Volume · 30D
- 0M sh
- NAV per share
- $48.17
- 52W range
The ETF.net JMHI Grade
Score 65 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.BScore 64Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 88Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 54Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 53Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.CScore 45Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 74Category rank
Our read on JMHI
BMost 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
- 256
- 16%
- JPMI TAX FREE MMKTF IM
Sectors
- Technology29.0%
- Health Care14.5%
- Financials12.3%
- Consumer Discr.10.6%
- Industrials9.0%
- Communication7.8%
- Cons. Staples5.2%
- Energy4.9%
- Materials2.4%
- Real Estate2.3%
- Utilities2.2%
JMHI Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | −1.5% |
| 1 month | −2.5% |
| 3 months | −3.5% |
| 1 year | −0.3% |
| 3 years | +4.8% |
| 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 | −1.5% | |
| 2025 | +4.6% | |
| 2024 | +5.9% | |
| 2023 | +1.4% |
JMHI in the news
ETF.net Research hasn’t filed on JMHI yet — coverage lands here as it’s written.
JMHI Dividends
- 4.62%
- $2.22
- $0.18 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 3, 2026 | $0.18 |
| Aug 3, 2026 | Aug 5, 2026 | $0.18 |
| Jul 1, 2026 | Jul 6, 2026 | $0.19 |
| Jun 1, 2026 | Jun 3, 2026 | $0.19 |
| May 1, 2026 | May 5, 2026 | $0.19 |
| Apr 1, 2026 | Apr 6, 2026 | $0.18 |
| Mar 2, 2026 | Mar 4, 2026 | $0.19 |
| Feb 2, 2026 | Feb 4, 2026 | $0.17 |
| Dec 31, 2025 | Jan 5, 2026 | $0.18 |
| Dec 1, 2025 | Dec 3, 2025 | $0.19 |
| Nov 3, 2025 | Nov 5, 2025 | $0.19 |
| Oct 1, 2025 | Oct 3, 2025 | $0.20 |
JMHI Risk
- 5.7%
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.
- 0.11
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.
- −7.1%
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
- The middle half of High-Yield Municipal Bonds funds
- Median 0.40%
5 of the 19 High-Yield Municipal Bonds funds charge less.