JMSI vs. BSMR

Last updated Jun 4, 2026

JMSI (J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund) and BSMR (Invesco BulletShares 2027 Municipal Bond ETF) are both Municipal Bonds funds. JMSI is actively managed, while BSMR is passively managed. Over the past year, JMSI returned 6.08% vs 4.16% for BSMR. A 0.55 correlation means they provide meaningful diversification when combined. Both charge a 0.18% expense ratio.

Performance

JMSI vs. BSMR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund (JMSI) and Invesco BulletShares 2027 Municipal Bond ETF (BSMR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with JMSI having a 1.06% return and BSMR slightly lower at 1.04%.

JMSI

• 1D: -0.13%
• 1M: 0.57%
• YTD: 1.06%
• 6M: 1.41%
• 1Y: 6.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BSMR

• 1D: 0.05%
• 1M: 0.41%
• YTD: 1.04%
• 6M: 1.31%
• 1Y: 4.16%
• 3Y*: 3.03%
• 5Y*: 0.48%
• 10Y*: —

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

JMSI vs. BSMR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JMSI J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund	1.06%	4.40%	2.77%	2.70%
BSMR Invesco BulletShares 2027 Municipal Bond ETF	1.04%	3.10%	1.51%	2.55%

Correlation

The correlation between JMSI and BSMR is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jul 18, 2023	0.55

The correlation between JMSI and BSMR shifts across timeframes, from 0.41 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.

JMSI vs. BSMR - Sectors Allocation Comparison

Sectors	JMSI	BSMR
Technology	36.9%	-
Financial Services	11.7%	1.9%
Communication Services	10.4%	-
Healthcare	9.8%	-
Consumer Cyclical	9.5%	0.0%
Industrials	7.2%	-
Consumer Defensive	4.7%	-
Energy	3.9%	-
Utilities	2.4%	-
Basic Materials	1.8%	-
Real Estate	1.8%	-

Return for Risk

JMSI vs. BSMR — Risk / Return Rank

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

JMSI

JMSI Risk / Return Rank: 58
JMSI Sharpe Ratio Rank: 64
JMSI Sortino Ratio Rank: 68
JMSI Omega Ratio Rank: 73
JMSI Calmar Ratio Rank: 42
JMSI Martin Ratio Rank: 44

BSMR

BSMR Risk / Return Rank: 94
BSMR Sharpe Ratio Rank: 92
BSMR Sortino Ratio Rank: 96
BSMR Omega Ratio Rank: 95
BSMR Calmar Ratio Rank: 94
BSMR Martin Ratio Rank: 92

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.

JMSI vs. BSMR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund (JMSI) and Invesco BulletShares 2027 Municipal Bond ETF (BSMR). 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.

	JMSI	BSMR	Difference
Sharpe ratio: Return per unit of total volatility	2.10	3.33	-1.23
Sortino ratio: Return per unit of downside risk	3.09	5.57	-2.49
Omega ratio: Gain probability vs. loss probability	1.43	1.74	-0.31
Calmar ratio: Return relative to maximum drawdown	2.05	7.37	-5.33
Martin ratio: Return relative to average drawdown	7.06	23.41	-16.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JMSI vs. BSMR - Sharpe Ratio Comparison

The current JMSI Sharpe Ratio is 2.10, which is lower than the BSMR Sharpe Ratio of 3.33. The chart below compares the historical Sharpe Ratios of JMSI and BSMR, 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

	JMSI	BSMR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	3.33	-1.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	0.22	+0.81

Drawdowns

JMSI vs. BSMR - Drawdown Comparison

The maximum JMSI drawdown since its inception was -4.57%, smaller than the maximum BSMR drawdown of -13.49%. Use the drawdown chart below to compare losses from any high point for JMSI and BSMR.

Drawdown Indicators

	JMSI	BSMR	Difference
Max Drawdown Largest peak-to-trough decline	-4.57%	-13.49%	+8.92%
Max Drawdown (1Y) Largest decline over 1 year	-2.98%	-0.57%	-2.41%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.50%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-12.02%	—
Current Drawdown Current decline from peak	-0.87%	0.00%	-0.87%
Average Drawdown Average peak-to-trough decline	-0.92%	-3.49%	+2.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	0.18%	+0.68%

Volatility

JMSI vs. BSMR - Volatility Comparison

J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund (JMSI) has a higher volatility of 0.96% compared to Invesco BulletShares 2027 Municipal Bond ETF (BSMR) at 0.34%. This indicates that JMSI's price experiences larger fluctuations and is considered to be riskier than BSMR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMSI	BSMR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.96%	0.34%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	2.20%	0.92%	+1.28%
Volatility (1Y) Calculated over the trailing 1-year period	2.91%	1.25%	+1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.73%	3.03%	+0.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.73%	5.72%	-1.99%

JMSI vs. BSMR - Expense Ratio Comparison

Both JMSI and BSMR have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

JMSI vs. BSMR - Dividend Comparison

JMSI's dividend yield for the trailing twelve months is around 3.65%, more than BSMR's 2.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BSMR Invesco BulletShares 2027 Municipal Bond ETF	2.72%	2.77%	2.78%	2.72%	1.40%	1.00%	1.49%	0.45%
JMSI J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund	3.65%	3.65%	3.66%	1.79%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JMSI and BSMR in my portfolio?

JMSI and BSMR have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JMSI or BSMR?

JMSI has higher volatility (0.96%) compared to BSMR (0.34%). In terms of maximum drawdown, JMSI dropped -4.57% vs BSMR's -13.49%.

Which ETF is better, JMSI or BSMR?

On 1-year performance, JMSI leads with 6.08% vs 4.16% for BSMR. Both ETFs have the same 0.18% expense ratio. On volatility, BSMR has been the lower-risk option at 0.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JMSI or BSMR?

Over the 1-year period, JMSI has performed better with a 6.08% return vs 4.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JMSI or BSMR?

JMSI and BSMR have the same expense ratio: 0.18% per year.

Which ETF pays a higher dividend yield, JMSI or BSMR?

JMSI has the higher dividend yield at 3.65%, compared with 2.72% for BSMR.

What is the main difference between JMSI and BSMR?

They also come from different issuers: JPMorgan and Invesco.

Which has better risk-adjusted returns?

BSMR currently has the higher Sharpe Ratio (3.33 vs 2.10), 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.