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JMST vs VSDM

JPMorgan Ultra-Short Municipal Income ETF

JMSTANYSE Arca

Vanguard Short Duration Tax-Exempt Bond ETF

VSDMACboe

Overlap

No data

Expense ratio

VSDM −0.06pt a year

JMST0.18%VSDM0.12%

Avg volume · 30D

JMST 5.1×the volume

JMST1.42MVSDM277K

JMST vs VSDM Performance

Nov 5, 2025 – Nov 5, 2026

+2.7%JMST+2.7%VSDM

Nov 5, 2025 to Nov 5, 2026. JMST +2.7%. VSDM +2.7%. Use the arrow keys to read each point.−0.5%0%0.5%1%1.5%Nov 2025May 2026Nov 2026
Expense ratio
JMST 0.18%
VSDM 0.12%, better
Fund size
JMST $8.41B
VSDM $1.2B
1Y total return
JMST +2.7%
VSDM +2.7%
Yield (12M)
JMST 2.55%
VSDM 3.11%, better
Holdings
JMST 1966
VSDM 3315
Avg volume (30D)
JMST 1.42M sh, better
VSDM 277K sh
NAV per share
JMST $50.83
VSDM $75.80
52W range

ETF.net Grade

JMST: Cost 72, Risk 55, Mission 100, Tradability 70, Holdings 34, Durability 81. VSDM: Cost 85, Risk 47, Mission 100, Tradability 80, Holdings 76, Durability 61.
Pillar letters and Scores for JMST, VSDM, with each pillar’s weight
PillarJMSTVSDM
Cost30% weightA72A85Higher
Mission25% weightA100A100
Risk15% weightB55HigherC47
Tradability15% weightA70A80Higher
Holdings10% weightD34A76Higher
Durability5% weightA81HigherB61

Rank among Short-Duration Municipal Bonds funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. JMST and VSDM are both graded against the same 27 Short-Duration Municipal Bonds funds, so their Grades compare head to head.

Short-Duration Municipal Bonds⁠

Category · 27 funds
See all 27 ›

VSDM ranks 1st and JMST 7th of 27 funds in the Short-Duration Municipal Bonds Category.

  1. Rank 1ASUBiShares Short-Term National Muni Bond ETFScore 80
  2. Rank 1AVSDMVanguard Short Duration Tax-Exempt Bond ETFScore 80
  3. Rank 1AVTESVanguard Short-Term Tax-Exempt Bond ETFScore 80
  4. Rank 5ASMBVanEck Short Muni ETFScore 74
  5. Rank 7AJMSTJPMorgan Ultra-Short Municipal Income ETFScore 72
  6. Rank 7ASHMState Street SPDR Nuveen ICE Short Term Municipal Bond ETFScore 72

Our read on each fund

ETF.net Research

JMSTAJPMorgan Ultra-Short Municipal Income ETF

VSDMAVanguard Short Duration Tax-Exempt Bond ETF

In short

JMST Munis 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.

VSDM No data

Stated mandate

JMST 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.

VSDM No data

Why people hold it

  • JMST 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.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.

VSDM No data

Worth knowing

  • JMST 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.

VSDM No data

Full JMST profile⁠

Full VSDM profile⁠

JMST vs VSDM Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

JMST vs VSDM Cost

Overpaying JMST vs VSDM

$1,229

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • JMST 0.18%

    $3,749

  • VSDM 0.12%

    $2,520

$10,000
30 years

Cost over time

  • JMST 0.18%
  • VSDM 0.12%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K051015202530JMST $3,749VSDM $2,520

Year by year

YearJMSTVSDMOverpaying
10$328$220$108
20$1,281$859$422
30$3,749$2,520$1,229

Expense ratio

  • 0.18%JMST
  • 0.12%VSDM, cheaper
  • Middle half of Short-Duration Municipal Bonds funds
  • Median 0.21%

VSDM 5th cheapest of 27 funds

JMST 8th cheapest of 27 funds

JMST vs VSDM Dividends

Last 12 months to Nov 5, 2026
Yield (12M)
JMST 2.55%
VSDM 3.11%, better
Payout (12M)
JMST $1.30
VSDM $2.36
Last payment
JMST $0.10
VSDM $0.19
Ex-dividend
JMST Nov 2, 2026
VSDM Nov 2, 2026
Paid on
JMST Nov 4, 2026
VSDM Nov 4, 2026
Frequency
JMST Monthly
VSDM Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

JMSTMonthly · 46 paymentsAll JMST payments⁠
One bar per payment. 46 payments from 2023 to 2026 YTD. Feb 1, 2023 $0.11; Mar 1, 2023 $0.12; Apr 3, 2023 $0.11; May 1, 2023 $0.12; Jun 1, 2023 $0.13; Jul 3, 2023 $0.14; Aug 1, 2023 $0.13; Sep 1, 2023 $0.15; Oct 2, 2023 $0.14; Nov 1, 2023 $0.15; Dec 1, 2023 $0.14; Dec 28, 2023 $0.14; Feb 1, 2024 $0.14; Mar 1, 2024 $0.15; Apr 1, 2024 $0.14; May 1, 2024 $0.16; Jun 3, 2024 $0.14; Jul 1, 2024 $0.14; Aug 1, 2024 $0.14; Sep 3, 2024 $0.15; Oct 1, 2024 $0.14; Nov 1, 2024 $0.14; Dec 2, 2024 $0.14; Dec 31, 2024 $0.12; Feb 3, 2025 $0.12; Mar 3, 2025 $0.13; Apr 1, 2025 $0.13; May 1, 2025 $0.14; Jun 2, 2025 $0.12; Jul 1, 2025 $0.12; Aug 1, 2025 $0.11; Sep 2, 2025 $0.12; Oct 1, 2025 $0.12; Nov 3, 2025 $0.11; Dec 1, 2025 $0.12; Dec 31, 2025 $0.11; Feb 2, 2026 $0.10; Mar 2, 2026 $0.12; Apr 1, 2026 $0.10; May 1, 2026 $0.12; Jun 1, 2026 $0.10; Jul 1, 2026 $0.11; Aug 3, 2026 $0.11; Sep 1, 2026 $0.10; Oct 1, 2026 $0.11; Nov 2, 2026 $0.10. Use the arrow keys to read each point.$0$0.2520232026YTD
VSDMMonthly · 23 paymentsAll VSDM payments⁠
One bar per payment. 23 payments from 2023 to 2026 YTD. Dec 24, 2024 $0.26; Feb 3, 2025 $0.20; Mar 3, 2025 $0.20; Apr 1, 2025 $0.16; May 1, 2025 $0.19; Jun 2, 2025 $0.20; Jul 1, 2025 $0.19; Aug 1, 2025 $0.19; Sep 2, 2025 $0.20; Oct 1, 2025 $0.20; Nov 3, 2025 $0.20; Dec 1, 2025 $0.20; Dec 18, 2025 $0.20; Feb 2, 2026 $0.19; Mar 2, 2026 $0.20; Apr 1, 2026 $0.20; May 1, 2026 $0.20; Jun 1, 2026 $0.20; Jul 1, 2026 $0.20; Aug 3, 2026 $0.20; Sep 1, 2026 $0.20; Oct 1, 2026 $0.19; Nov 2, 2026 $0.19. Use the arrow keys to read each point.$0$0.2520232026YTD

JMST vs VSDM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
JMST 0.9%VSDM 2.9%since Dec 2024
Return per unit of riskSharpe ratio, 3 years
JMST −1.35VSDM −0.26since Dec 2024
Worst fallMax drawdown, 5 years
JMST −1.2%VSDM −2.8%since Nov 2024
Market sensitivityBeta, 5 years
JMST 0.08VSDM 0.09

JMST and VSDM in the news

All news⁠

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