JPMorgan Ultra-Short Municipal Income ETF
$50.66+0.02 (+0.04%)
- 0.18%
- $8.0B
- +2.0%
- 2.57%
- 1.3M sh
- $50.59
- low $50.46high $51.13
The ETF.net JMST Grade
A
Score 74 out of 100
- 6 of 28
Score 74 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.B56 out of 100Rank 7 of 27Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B68 out of 100Rank 6 of 28Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B55 out of 100Rank 15 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
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.
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
- 0.18% a year, well under the 0.30% median for its muni cohort.
- The mandate targets an average weighted maturity of two years or less, so rate moves hit it far less than they hit long-dated muni funds.am.jpmorgan.com
- Roughly 1,600 investment-grade positions across fixed, variable and floating rate munis, so no single issuer carries the fund.
- A multi-billion-dollar fund that trades actively, which generally keeps the spread you pay to get in and out narrow.
Worth knowing
- Broad muni index funds go cheaper: VTEB and SCMB run 0.03%, MUB 0.05%. You are paying up for the ultra-short mandate.
- Short maturities cut rate risk, and they cut the extra income longer municipal bonds pay for carrying that risk. This is a stability-of-principal design.
- The stated exemption is from federal income tax. State and local treatment is a separate question that depends on where you file.
JMST Holdings
- Bonds
- 1,854
- 14%
- Jpmi Tax Free Mmktf Im
Geography
- United States100.00%
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$10,200
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 | JMST |
|---|---|
| Year to date | +1.3% |
| 1 month | 0.0% |
| 3 months | +0.1% |
| 1 year | +2.0% |
| 3 years | +3.2% |
| 5 years | +2.3% |
| 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 | +1.3% | |
| 2025 | +3.3% | |
| 2024 | +3.3% | |
| 2023 | +3.6% | |
| 2022 | +0.1% | |
| 2021 | +0.3% | |
| 2020 | +2.0% |
JMST in the news
JMST Dividends
- 2.57%
- $1.30
- $0.11 per share
- Monthly
Distribution history
JMST Risk
- 0.8%
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.
- −1.95
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.
JMST Cost
0.18%
JMST0.18%
- The middle half of Short-Duration Municipal Bonds funds
- Median 0.25%
7 of the 27 Short-Duration Municipal Bonds funds charge less.
Other funds in Short-Duration Municipal Bonds
- AGUMIGoldman Sachs Ultra Short Municipal Income ETFExpense ratio 0.16%1 year return +2.5%
- AVSDMVanguard Municipal Bond Funds - Vanguard Short Duration Tax-Exempt Bond ETFExpense ratio 0.12%1 year return +0.7%
- ASHMState Street SPDR Nuveen ICE Short Term Municipal Bond ETFExpense ratio 0.20%1 year return +0.1%
- APUSHPGIM Ultra Short Municipal Bond ETFExpense ratio 0.15%1 year return +2.1%
- ASMBVanEck Short Muni ETFExpense ratio 0.07%1 year return +0.5%