EFV vs. JMST

Last updated Jun 9, 2026

EFV (iShares MSCI EAFE Value ETF) and JMST (JPMorgan Ultra-Short Municipal Income ETF) are both exchange-traded funds - EFV is a Foreign Large Cap Equities fund tracking the MSCI EAFE Value Index, while JMST is a Ultrashort Bond fund actively managed by JPMorgan. EFV is passively managed, while JMST is actively managed. Over the past 5 years, EFV returned 11.92%/yr vs 2.27%/yr for JMST. At a 0.06 correlation, their price movements are largely independent. EFV charges 0.39%/yr vs 0.18%/yr for JMST.

Performance

EFV vs. JMST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI EAFE Value ETF (EFV) and JPMorgan Ultra-Short Municipal Income ETF (JMST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EFV achieves a 8.07% return, which is significantly higher than JMST's 1.03% return.

EFV

• 1D: 0.35%
• 1M: -1.10%
• YTD: 8.07%
• 6M: 12.00%
• 1Y: 25.73%
• 3Y*: 21.26%
• 5Y*: 11.92%
• 10Y*: 9.94%

JMST

• 1D: -0.02%
• 1M: 0.24%
• YTD: 1.03%
• 6M: 1.30%
• 1Y: 2.98%
• 3Y*: 3.34%
• 5Y*: 2.27%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EFV vs. JMST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EFV iShares MSCI EAFE Value ETF	8.07%	42.22%	5.35%	18.85%	-5.22%	11.08%	-2.97%	15.80%	-6.73%
JMST JPMorgan Ultra-Short Municipal Income ETF	1.03%	3.35%	3.31%	3.56%	0.07%	0.31%	2.00%	2.09%	0.70%

Correlation

The correlation between EFV and JMST is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (All Time) Calculated using the full available price history since Oct 19, 2018	0.06

EFV vs. JMST - Sectors Allocation Comparison

Sectors	EFV	JMST
Financial Services	37.3%	5.1%
Industrials	9.6%	0.6%
Consumer Defensive	9.5%	0.4%
Healthcare	7.4%	0.5%
Energy	6.8%	0.8%
Basic Materials	6.5%	0.5%
Consumer Cyclical	6.0%	1.2%
Utilities	5.7%	0.2%
Communication Services	4.4%	0.9%
Technology	3.2%	2.4%
Real Estate	2.7%	0.6%

Return for Risk

EFV vs. JMST — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EFV

EFV Risk / Return Rank: 57
EFV Sharpe Ratio Rank: 59
EFV Sortino Ratio Rank: 59
EFV Omega Ratio Rank: 59
EFV Calmar Ratio Rank: 53
EFV Martin Ratio Rank: 55

JMST

JMST Risk / Return Rank: 98
JMST Sharpe Ratio Rank: 98
JMST Sortino Ratio Rank: 99
JMST Omega Ratio Rank: 99
JMST Calmar Ratio Rank: 98
JMST Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EFV vs. JMST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE Value ETF (EFV) and JPMorgan Ultra-Short Municipal Income ETF (JMST). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	EFV	JMST	Difference
Sharpe ratio: Return per unit of total volatility	1.80	5.10	-3.29
Sortino ratio: Return per unit of downside risk	2.50	8.46	-5.96
Omega ratio: Gain probability vs. loss probability	1.32	2.55	-1.23
Calmar ratio: Return relative to maximum drawdown	2.37	11.74	-9.37
Martin ratio: Return relative to average drawdown	8.79	64.42	-55.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EFV vs. JMST - Sharpe Ratio Comparison

The current EFV Sharpe Ratio is 1.80, which is lower than the JMST Sharpe Ratio of 5.10. The chart below compares the historical Sharpe Ratios of EFV and JMST, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EFV	JMST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.80	5.10	-3.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	2.76	-2.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	1.89	-1.63

Drawdowns

EFV vs. JMST - Drawdown Comparison

The maximum EFV drawdown since its inception was -63.94%, which is greater than JMST's maximum drawdown of -2.41%. Use the drawdown chart below to compare losses from any high point for EFV and JMST.

Drawdown Indicators

	EFV	JMST	Difference
Max Drawdown Largest peak-to-trough decline	-63.94%	-2.41%	-61.53%
Max Drawdown (1Y) Largest decline over 1 year	-10.90%	-0.25%	-10.65%
Max Drawdown (3Y) Largest decline over 3 years	-13.72%	-0.71%	-13.01%
Max Drawdown (5Y) Largest decline over 5 years	-25.84%	-1.15%	-24.69%
Max Drawdown (10Y) Largest decline over 10 years	-43.16%	—	—
Current Drawdown Current decline from peak	-3.47%	-0.02%	-3.45%
Average Drawdown Average peak-to-trough decline	-14.82%	-0.12%	-14.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	0.05%	+2.88%

Volatility

EFV vs. JMST - Volatility Comparison

iShares MSCI EAFE Value ETF (EFV) has a higher volatility of 3.81% compared to JPMorgan Ultra-Short Municipal Income ETF (JMST) at 0.17%. This indicates that EFV's price experiences larger fluctuations and is considered to be riskier than JMST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EFV	JMST	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.81%	0.17%	+3.64%
Volatility (6M) Calculated over the trailing 6-month period	11.74%	0.41%	+11.33%
Volatility (1Y) Calculated over the trailing 1-year period	14.35%	0.59%	+13.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.98%	0.83%	+15.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.87%	1.14%	+16.73%

EFV vs. JMST - Expense Ratio Comparison

EFV has a 0.39% expense ratio, which is higher than JMST's 0.18% expense ratio.

Dividends

EFV vs. JMST - Dividend Comparison

EFV's dividend yield for the trailing twelve months is around 3.85%, more than JMST's 2.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFV iShares MSCI EAFE Value ETF	3.85%	4.16%	4.66%	4.36%	4.17%	4.07%	2.42%	4.62%	4.56%	3.56%	3.28%	3.59%
JMST JPMorgan Ultra-Short Municipal Income ETF	2.65%	2.84%	3.32%	3.09%	1.10%	0.27%	0.87%	1.63%	0.28%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EFV and JMST in my portfolio?

EFV and JMST have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EFV or JMST?

EFV has higher volatility (3.81%) compared to JMST (0.17%). In terms of maximum drawdown, EFV dropped -63.94% vs JMST's -2.41%.

Which ETF is better, EFV or JMST?

On 5-year performance, EFV leads with 11.92% vs 2.27% for JMST. On fees, JMST is cheaper at 0.18% per year. On volatility, JMST has been the lower-risk option at 0.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EFV or JMST?

Over the 5-year period, EFV has performed better with a 11.92% return vs 2.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EFV or JMST?

JMST is cheaper with a 0.18% expense ratio, compared with 0.39% for EFV.

Which ETF pays a higher dividend yield, EFV or JMST?

EFV has the higher dividend yield at 3.85%, compared with 2.65% for JMST.

What is the main difference between EFV and JMST?

EFV is categorized as Foreign Large Cap Equities, while JMST is Ultrashort Bond. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.39% for EFV and 0.18% for JMST.

Which has better risk-adjusted returns?

JMST currently has the higher Sharpe Ratio (5.10 vs 1.80), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.