JMMF vs. UCIB

Last updated Jun 3, 2026

JMMF (JPMorgan 100% U.S. Treasury Securities Money Market ETF) and UCIB (ETRACS CMCI Total Return ETN Series B) are both exchange-traded funds - JMMF is a Money Market fund actively managed by JPMorgan, while UCIB is a Commodities fund tracking the UBS Bloomberg CMCI Index. JMMF is actively managed, while UCIB is passively managed. At a correlation of -0.22, they often move in opposite directions. JMMF charges 0.16%/yr vs 0.55%/yr for UCIB.

Performance

JMMF vs. UCIB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan 100% U.S. Treasury Securities Money Market ETF (JMMF) and ETRACS CMCI Total Return ETN Series B (UCIB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JMMF achieves a 1.42% return, which is significantly lower than UCIB's 20.67% return.

JMMF

• 1D: 0.02%
• 1M: 0.29%
• YTD: 1.42%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UCIB

• 1D: -1.83%
• 1M: -5.93%
• YTD: 20.67%
• 6M: 21.76%
• 1Y: 29.68%
• 3Y*: 13.51%
• 5Y*: 11.77%
• 10Y*: 10.30%

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

JMMF vs. UCIB - Yearly Performance Comparison

	2026 (YTD)	2025
JMMF JPMorgan 100% U.S. Treasury Securities Money Market ETF	1.42%	0.17%
UCIB ETRACS CMCI Total Return ETN Series B	20.67%	0.73%

Correlation

The correlation between JMMF and UCIB is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 12, 2025	-0.22

Return for Risk

JMMF vs. UCIB — Risk / Return Rank

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

UCIB

UCIB Risk / Return Rank: 36
UCIB Sharpe Ratio Rank: 26
UCIB Sortino Ratio Rank: 26
UCIB Omega Ratio Rank: 45
UCIB Calmar Ratio Rank: 39
UCIB Martin Ratio Rank: 41

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.

JMMF vs. UCIB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan 100% U.S. Treasury Securities Money Market ETF (JMMF) and ETRACS CMCI Total Return ETN Series B (UCIB). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	JMMF	UCIB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.94	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.44	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.45	—
Sharpe Ratio (All Time) Calculated using the full available price history	6.42	0.38	+6.04

Drawdowns

JMMF vs. UCIB - Drawdown Comparison

The maximum JMMF drawdown since its inception was -0.14%, smaller than the maximum UCIB drawdown of -36.94%. Use the drawdown chart below to compare losses from any high point for JMMF and UCIB.

Drawdown Indicators

	JMMF	UCIB	Difference
Max Drawdown Largest peak-to-trough decline	-0.14%	-36.94%	+36.80%
Max Drawdown (1Y) Largest decline over 1 year	—	-15.53%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.18%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.95%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.94%	—
Current Drawdown Current decline from peak	0.00%	-15.53%	+15.53%
Average Drawdown Average peak-to-trough decline	-0.01%	-9.06%	+9.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.54%	—

Volatility

Volatility by Period

	JMMF	UCIB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	16.62%	—
Volatility (6M) Calculated over the trailing 6-month period	—	31.05%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.54%	31.72%	-31.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.54%	26.74%	-26.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.54%	23.22%	-22.68%

JMMF vs. UCIB - Expense Ratio Comparison

JMMF has a 0.16% expense ratio, which is lower than UCIB's 0.55% expense ratio.

Dividends

JMMF vs. UCIB - Dividend Comparison

JMMF's dividend yield for the trailing twelve months is around 1.59%, while UCIB has not paid dividends to shareholders.

Position	TTM	2025
JMMF JPMorgan 100% U.S. Treasury Securities Money Market ETF	1.59%	0.20%
UCIB ETRACS CMCI Total Return ETN Series B	0.00%	0.00%

Frequently Asked Questions

Can I hold both JMMF and UCIB in my portfolio?

JMMF and UCIB have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JMMF or UCIB?

On fees, JMMF is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JMMF or UCIB?

JMMF is cheaper with a 0.16% expense ratio, compared with 0.55% for UCIB.

Which ETF pays a higher dividend yield, JMMF or UCIB?

JMMF has the higher dividend yield at 1.59%, compared with 0.00% for UCIB.

What is the main difference between JMMF and UCIB?

JMMF is categorized as Money Market, while UCIB is Commodities. They also come from different issuers: JPMorgan and UBS. Their fees differ too: 0.16% for JMMF and 0.55% for UCIB.