Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
JPMorgan Municipal ETF
$47.88+0.23 (+0.48%)
- 0.18%
- $8.6B
- −2.1%
- 3.85%
- 1.8M sh
- $47.58
- low $47.20high $51.34
The ETF.net JMUB Grade
A
Score 79 out of 100
- 9 of 63
Score 79 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.A82 out of 100Rank 11 of 63Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 59Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B58 out of 100Rank 18 of 63Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B65 out of 100Rank 18 of 63Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A76 out of 100Rank 15 of 63Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A78 out of 100Rank 10 of 63
Our read on JMUB
AA national municipal bond portfolio aiming at federal tax-exempt income and capital preservation, spread across roughly 2,000 bonds, priced at 0.18% a year (well under the typical muni ETF) and paying monthly.
The fund seeks federal tax-exempt income and capital preservation by investing in municipal securities.
Why people hold it
- 0.18% a year, against a muni-ETF field where the typical fee runs closer to 0.30%.
- Roughly 2,000 municipal bonds, so no single issuer, state or project sets the tone for the whole portfolio.
- Cash arrives monthly, and the mandate targets interest exempt from federal income tax.
- A multi-billion-dollar, actively traded fund that stays inside its stated muni mandate, and one of the stronger implementations in a crowded municipal peer group.
Worth knowing
- Broad index rivals go cheaper: VTEB, SCMB and MUB all charge a handful of basis points versus 0.18% here.
- Munis still move with interest rates and credit spreads. Capital preservation is the stated goal, not a floor under the share price.
- The tax break is a federal one, so what it is worth depends on your bracket and your state's rules.
JMUB Holdings
- Bonds
- 2,157
- 10%
- Jpmi Tax Free Mmktf Im
Geography
- United States100.00%
JMUB 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.
JMUB$9,789
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 | JMUB |
|---|---|
| Year to date | −3.0% |
| 1 month | −1.8% |
| 3 months | −4.5% |
| 1 year | −2.1% |
| 3 years | +3.1% |
| 5 years | +0.4% |
| 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 | JMUB |
|---|---|---|
| 2026 YTD | −3.0% | |
| 2025 | +4.3% | |
| 2024 | +1.9% | |
| 2023 | +6.0% | |
| 2022 | −7.4% | |
| 2021 | +1.6% | |
| 2020 | +5.0% |
JMUB in the news
JMUB Dividends
- 3.85%
- $1.83
- $0.16 per share
- Monthly
Distribution history
JMUB Risk
- 5.1%
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.
- −0.27
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.
- −11.7%
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.
- 0.82
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
JMUB Cost
0.18%
JMUB0.18%
- The middle half of Other Municipal Bond funds
- Median 0.30%
10 of the 63 Other Municipal Bond funds charge less.
Other funds in Other Municipal Bond
- ANYFiShares New York Muni Bond ETFExpense ratio 0.09%1 year return −2.3%
- ATAXTNorthern Trust Tax-Exempt Bond ETFExpense ratio 0.05%1 year return −0.7%
- ADFNMDimensional - National Municipal Bond ETFExpense ratio 0.18%1 year return −1.1%
- AGMUBGoldman Sachs Municipal Income ETFExpense ratio 0.18%1 year return −0.5%
- ATAXFAmerican Century Diversified Municipal Bond ETFExpense ratio 0.25%1 year return −1.9%