JPMorgan Ultra-Short Municipal Fund (USMTX)
Under normal circumstances, the fund invests at least 80% of its assets in municipal securities, the income from which is exempt from federal income tax. For purposes of this policy, "Assets" means net assets, plus the amount of borrowings for investment purposes. The fund invests in a portfolio of municipal securities with an average weighted maturity of two years or less.
Fund Info
US46641U4812
46641U481
May 30, 2016
$1,000,000
Expense Ratio
USMTX has an expense ratio of 0.24%, which is considered low.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
JPMorgan Ultra-Short Municipal Fund (USMTX) returned 1.11% year-to-date (YTD) and 3.28% over the past 12 months.
USMTX
1.11%
0.20%
1.21%
3.28%
2.77%
1.54%
N/A
^GSPC (Benchmark)
0.52%
6.32%
-1.44%
12.25%
12.45%
14.20%
10.84%
Monthly Returns
The table below presents the monthly returns of USMTX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.45% | 0.24% | 0.14% | 0.07% | 0.20% | 1.11% | |||||||
| 2024 | 0.25% | 0.29% | 0.15% | 0.17% | 0.26% | 0.46% | 0.44% | 0.46% | 0.27% | 0.05% | 0.35% | 0.10% | 3.31% |
| 2023 | 0.59% | -0.24% | 0.64% | 0.01% | 0.04% | 0.42% | 0.21% | 0.25% | 0.04% | 0.26% | 0.76% | 0.44% | 3.47% |
| 2022 | -0.48% | -0.16% | -0.48% | -0.36% | 0.34% | -0.05% | 0.36% | -0.39% | -0.40% | 0.04% | 0.74% | 0.13% | -0.71% |
| 2021 | 0.02% | -0.18% | 0.02% | 0.13% | 0.02% | 0.03% | 0.12% | -0.09% | -0.08% | -0.08% | 0.02% | 0.02% | -0.05% |
| 2020 | 0.30% | 0.10% | -0.36% | -0.07% | 0.46% | 0.15% | 0.24% | 0.03% | 0.03% | -0.07% | 0.13% | 0.12% | 1.06% |
| 2019 | 0.22% | 0.23% | 0.23% | 0.04% | 0.23% | 0.24% | 0.32% | 0.12% | -0.07% | 0.22% | 0.11% | 0.10% | 2.00% |
| 2018 | 0.17% | 0.09% | 0.09% | 0.03% | 0.20% | 0.20% | 0.10% | 0.12% | -0.08% | 0.02% | 0.23% | 0.23% | 1.41% |
| 2017 | 0.15% | 0.28% | 0.05% | 0.11% | 0.03% | 0.06% | 0.16% | 0.06% | -0.03% | 0.07% | -0.13% | 0.08% | 0.89% |
| 2016 | -0.15% | 0.14% | -0.06% | 0.07% | 0.00% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 99, USMTX is among the top 1% of mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for JPMorgan Ultra-Short Municipal Fund (USMTX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
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Dividends
Dividend History
JPMorgan Ultra-Short Municipal Fund provided a 2.73% dividend yield over the last twelve months, with an annual payout of $0.27 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.27 | $0.31 | $0.26 | $0.09 | $0.03 | $0.08 | $0.15 | $0.14 | $0.08 | $0.02 |
Dividend yield | 2.73% | 3.05% | 2.59% | 0.89% | 0.25% | 0.75% | 1.48% | 1.41% | 0.79% | 0.20% |
Monthly Dividends
The table displays the monthly dividend distributions for JPMorgan Ultra-Short Municipal Fund. 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.03 | $0.02 | $0.02 | $0.03 | $0.00 | $0.10 | |||||||
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.31 |
| 2023 | $0.02 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.26 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.09 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.03 |
| 2020 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.08 |
| 2019 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.15 |
| 2018 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.14 |
| 2017 | $0.01 | $0.01 | $0.01 | $0.01 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.08 |
| 2016 | $0.01 | $0.00 | $0.00 | $0.01 | $0.02 |
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 Ultra-Short Municipal Fund. 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 Ultra-Short Municipal Fund was 1.98%, occurring on Mar 20, 2020. Recovery took 65 trading sessions.
The current JPMorgan Ultra-Short Municipal Fund drawdown is 0.10%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -1.98% | Mar 10, 2020 | 9 | Mar 20, 2020 | 65 | Jun 23, 2020 | 74 |
| -1.92% | Aug 6, 2021 | 289 | Sep 28, 2022 | 122 | Mar 24, 2023 | 411 |
| -0.4% | Apr 7, 2025 | 3 | Apr 9, 2025 | 18 | May 6, 2025 | 21 |
| -0.3% | May 16, 2023 | 5 | May 22, 2023 | 13 | Jun 9, 2023 | 18 |
| -0.3% | Apr 14, 2023 | 4 | Apr 19, 2023 | 14 | May 9, 2023 | 18 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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