JPMorgan Ultra-Short Municipal Income ETF
$50.66−0.09 (−0.19%)
- Expense ratio
- 0.18%
- Fund size
- $7.5B
- 1Y return
- +2.1%
- Yield · Last 12 months
- 2.58%
- Holdings
- 1512
- Volume · 30D
- 1.1M sh
- NAV per share
- $50.68
- 52W range
The ETF.net JMST Grade
Score 72 of 100 sits in the A 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.AScore 70Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 100Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 55Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 65Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.CScore 40Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 81Category rank
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
- 1,512
- 17%
- JPMI TAX FREE MMKTF IM
JMST Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
JMST$10,206
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 | JMST |
|---|---|
| Year to date | +1.3% |
| 1 month | −0.1% |
| 3 months | +0.2% |
| 1 year | +2.1% |
| 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
- 2.58%
- $1.31
- $0.10 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 3, 2026 | $0.10 |
| Aug 3, 2026 | Aug 5, 2026 | $0.11 |
| Jul 1, 2026 | Jul 6, 2026 | $0.11 |
| Jun 1, 2026 | Jun 3, 2026 | $0.10 |
| May 1, 2026 | May 5, 2026 | $0.12 |
| Apr 1, 2026 | Apr 6, 2026 | $0.10 |
| Mar 2, 2026 | Mar 4, 2026 | $0.12 |
| Feb 2, 2026 | Feb 4, 2026 | $0.10 |
| Dec 31, 2025 | Jan 5, 2026 | $0.11 |
| Dec 1, 2025 | Dec 3, 2025 | $0.12 |
| Nov 3, 2025 | Nov 5, 2025 | $0.11 |
| Oct 1, 2025 | Oct 3, 2025 | $0.12 |
JMST Risk
- 0.6%
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.
- −2.11
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.
- −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.