JPMorgan Ultra-Short Municipal Income ETF
$50.92+0.03 (+0.06%)
- 0.18%
- $8.41B
- +2.7%
- 2.55%
- 1.42M sh
- low $50.46high $51.13
The ETF.net JMST Grade
A
Score 72 out of 100
- 7 of 28
Score 72 of 100 falls in the A 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.A72 out of 100Rank 8 of 28Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 27Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B55 out of 100Rank 10 of 27Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A70 out of 100Rank 6 of 28Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D34 out of 100Rank 24 of 28Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A81 out of 100Rank 5 of 28
Our read on JMST
In short
AMunis without the long-end drama. JMST holds investment-grade municipal bonds with an average weighted maturity of two years or less and pays federally tax-exempt income monthly, for 0.18% a year.
Stated mandate
The fund seeks current income exempt from federal income tax while maintaining stability of principal. It primarily invests in investment-grade fixed-, variable-, and floating-rate municipal securities and seeks an average weighted maturity of two years or less.
Why people hold it
Worth knowing
JMST 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.
JMST$10,266
Returns run to the Nov 5, 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 | JMST |
|---|---|
| Year to date | +2.1% |
| 1 month | +0.9% |
| 3 months | +0.8% |
| 1 year | +2.7% |
| 3 years | +3.3% |
| 5 years | +2.5% |
| 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 | JMST |
|---|---|---|
| 2026 YTD | +2.1% | |
| 2025 | +3.3% | |
| 2024 | +3.3% | |
| 2023 | +3.6% | |
| 2022 | +0.1% | |
| 2021 | +0.3% | |
| 2020 | +2.0% |
JMST in the news
JMST Dividends
- 2.55%
- $1.30
- $0.10 per share
- Monthly
JMST Risk
- 0.9%
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.
- −1.35
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.
- −1.2%
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.
- 0.08
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.
JMST Cost
Overpaying vs VTES, tied cheapest in Short-Duration Municipal Bonds
$2,689
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
JMST 0.18%
$3,749
VTES 0.05% Tied cheapest
$1,060
Cost over time
Year by year
| Year | JMST | VTES | Overpaying |
|---|---|---|---|
| 10 | $328 | $92 | $236 |
| 20 | $1,281 | $360 | $921 |
| 30 | $3,749 | $1,060 | $2,689 |
Other funds in Short-Duration Municipal Bonds
- AGUMIGoldman Sachs Ultra Short Municipal Income ETFExpense ratio 0.16%1 year return +3.1%
- ASMBVanEck Short Muni ETFExpense ratio 0.07%1 year return +2.3%
- ASHMState Street SPDR Nuveen ICE Short Term Municipal Bond ETFExpense ratio 0.20%1 year return +1.9%
- APUSHPGIM Ultra Short Municipal Bond ETFExpense ratio 0.15%1 year return +3.2%
- BEVSMEaton Vance Short Duration Municipal Income ETFExpense ratio 0.19%1 year return +2.4%
