- ISIN
- US46641Q6474
- CUSIP
- 46641Q647
- Issuer
- JPMorgan
- Inception Date
- Oct 29, 2018
- Region
- North America (U.S.)
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $8B
Share Price Chart
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Performance
JMUB Performance Chart
JPMorgan Municipal ETF (JMUB) is up 1.5% since the beginning of the year. JMUB is currently trading at $50 per share. Investors who bought $1,000 worth of JMUB shares 5 years ago would now be looking at an investment worth $1,065.
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Returns By Period
JPMorgan Municipal ETF (JMUB) has returned 1.48% so far this year and 5.72% over the past 12 months.
JPMorgan Municipal ETF
- 1D
- 0.02%
- 1M
- 1.28%
- YTD
- 1.48%
- 6M
- 1.70%
- 1Y
- 5.72%
- 3Y*
- 3.69%
- 5Y*
- 1.27%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
JMUB Monthly Returns History
Based on dividend-adjusted daily data since Oct 31, 2018, JMUB's average daily return is +0.01%, while the average monthly return is +0.26%. At this rate, an investment would double in approximately 22.2 years.
Historically, 67% of months were positive and 33% were negative. The best month was Nov 2023 with a return of +5.5%, while the worst month was Mar 2020 at -4.0%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 4 months.
On a daily basis, JMUB closed higher 55% of trading days. The best single day was Mar 25, 2020 with a return of +3.8%, while the worst single day was Mar 19, 2020 at -3.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.67% | 1.19% | -2.26% | 1.16% | 0.41% | 0.34% | 1.48% | ||||||
| 2025 | 0.48% | 1.03% | -1.26% | -0.29% | -0.22% | 0.68% | -0.34% | 0.84% | 2.08% | 0.90% | 0.34% | 0.05% | 4.34% |
| 2024 | 0.15% | -0.11% | 0.09% | -0.88% | 0.02% | 1.03% | 1.26% | 0.32% | 1.07% | -1.19% | 1.20% | -1.05% | 1.88% |
| 2023 | 2.62% | -2.06% | 1.91% | 0.10% | -0.76% | 0.68% | 0.27% | -1.13% | -2.07% | -1.18% | 5.54% | 2.18% | 5.96% |
| 2022 | -2.80% | -0.44% | -2.82% | -2.73% | 1.43% | -1.22% | 2.42% | -1.89% | -2.95% | -1.13% | 4.55% | 0.19% | -7.43% |
| 2021 | 0.61% | -1.73% | 0.47% | 1.00% | 0.38% | 0.35% | 0.98% | -0.41% | -0.70% | -0.30% | 0.68% | 0.28% | 1.58% |
Benchmark Metrics
JPMorgan Municipal ETF has an annualized alpha of 2.46%, beta of 0.04, and R2 of 0.04 versus S&P 500 Index. Calculated based on daily prices since October 31, 2018.
- This ETF participated in 17.04% of S&P 500 Index downside but only 14.33% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.04 may look defensive, but with R2 of 0.04 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.04 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 2.46%
- Beta
- 0.04
- R²
- 0.04
- Upside Capture
- 14.33%
- Downside Capture
- 17.04%
Expense Ratio
JMUB has an expense ratio of 0.18%, which is considered low.
Return for Risk
Risk / Return Rank
JMUB ranks 68 for risk / return — better than 68% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for JPMorgan Municipal ETF (JMUB) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| JMUB | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.37 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 2.78 | -0.53 |
| Martin ratioReturn relative to average drawdown | 7.74 | 12.44 | -4.70 |
Dividends
Dividend History
JPMorgan Municipal ETF provided a 3.59% dividend yield over the last twelve months, with an annual payout of $1.81 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.81 | $1.78 | $1.75 | $1.63 | $1.07 | $1.06 | $1.17 | $1.96 | $0.23 |
Dividend yield | 3.59% | 3.52% | 3.50% | 3.20% | 2.16% | 1.94% | 2.13% | 3.66% | 0.45% |
Monthly Dividends
The table displays the monthly dividend distributions for JPMorgan Municipal ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.14 | $0.15 | $0.15 | $0.16 | $0.15 | $0.75 | ||||||
| 2025 | $0.00 | $0.13 | $0.14 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $0.27 | $0.00 | $0.34 | $1.78 |
| 2024 | $0.00 | $0.14 | $0.15 | $0.14 | $0.15 | $0.15 | $0.15 | $0.14 | $0.15 | $0.15 | $0.14 | $0.28 | $1.75 |
| 2023 | $0.00 | $0.13 | $0.13 | $0.13 | $0.14 | $0.13 | $0.13 | $0.13 | $0.14 | $0.14 | $0.15 | $0.27 | $1.63 |
| 2022 | $0.00 | $0.07 | $0.08 | $0.06 | $0.08 | $0.08 | $0.07 | $0.08 | $0.11 | $0.10 | $0.13 | $0.22 | $1.07 |
| 2021 | $0.00 | $0.07 | $0.08 | $0.08 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.35 | $1.06 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the JPMorgan Municipal ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the JPMorgan Municipal ETF was 12.50%, occurring on Mar 23, 2020. Recovery took 96 trading sessions.
The current JPMorgan Municipal ETF drawdown is 0.38%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -12.50%Mar 2020 | 13d | 4mo 17d | 5moMar 2020 - Aug 2020 |
Bear market2022 | -12.06%Oct 2022 | 1y 2mo | 1y 10mo | 3y 1moAug 2021 - Sep 2024 |
2025 selloff2025 | -4.02%Apr 2025 | 1mo 9d | 4mo 27d | 6mo 6dMar 2025 - Sep 2025 |
2026 pullback2026 | -2.55%Mar 2026 | 22d | — | 3mo 23dMar 2026 - now |
2024 pullback2024 | -2.18%Nov 2024 | 1mo 5d | 28d | 2mo 3dOct 2024 - Dec 2024 |
Drawdown Indicators
| JMUB | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.50% | -56.78% | +44.28% |
Max Drawdown (1Y)Largest decline over 1 year | -2.55% | -9.10% | +6.55% |
Max Drawdown (3Y)Largest decline over 3 years | -4.79% | -18.90% | +14.11% |
Max Drawdown (5Y)Largest decline over 5 years | -12.06% | -25.43% | +13.37% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.38% | -1.80% | +1.42% |
Average DrawdownAverage peak-to-trough decline | -2.50% | -10.71% | +8.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | 2.03% | -1.29% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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