JMUB vs SCMB

JMUBAJPMorgan Municipal ETF

SCMBASchwab Municipal Bond ETF

In short

JMUB A 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.

SCMB Schwab's take on the core muni sleeve: three basis points, thousands of AMT-free bonds from across the country, and a monthly distribution. Bottom-of-the-table pricing, no frills attached.

Stated mandate

JMUB The fund seeks federal tax-exempt income and capital preservation by investing in municipal securities.

SCMB The fund seeks to track, before fees and expenses, the total return of an index representing the U.S. AMT-free municipal bond market.

Why people hold it

• JMUB 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.

• SCMB Three basis points a year, against a 0.30% median for muni bond funds. Among the top-graded names in the category, only Vanguard's VTEB matches that fee.
• Follows the ICE AMT-Free Core U.S. National Municipal Index across thousands of bonds and issuers, so no single borrower or state drives the portfolio.
• Plain passive plumbing done well: it stays close to its index, trades actively, and pays monthly. One of the stronger implementations in the muni aisle.

Worth knowing

• JMUB 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.

• SCMB Launched in 2022, so its live record is shorter than muni staples like MUB and VTEB, even though the strategy is the same broad-market idea.
• Bond math still applies. This is a portfolio of municipal bonds, so share prices move opposite to interest rates.
• National in scope, not single-state like NYF, so it is not built around any one state's tax rules.

Full JMUB profile⁠

Full SCMB profile⁠