JMSI vs. MUB
JMSI (J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund) and MUB (iShares National AMT-Free Muni Bond ETF) are both Municipal Bonds funds. JMSI is actively managed, while MUB is passively managed. Over the past year, JMSI returned 5.96% vs 6.40% for MUB. Their correlation of 0.81 suggests significant overlap in exposure. JMSI charges 0.18%/yr vs 0.07%/yr for MUB.
Performance
JMSI vs. MUB - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with JMSI having a 1.41% return and MUB slightly higher at 1.48%.
JMSI
- 1D
- 0.08%
- 1M
- 1.45%
- YTD
- 1.41%
- 6M
- 1.59%
- 1Y
- 5.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MUB
- 1D
- -0.06%
- 1M
- 1.29%
- YTD
- 1.48%
- 6M
- 1.78%
- 1Y
- 6.40%
- 3Y*
- 3.19%
- 5Y*
- 0.93%
- 10Y*
- 1.90%
JMSI vs. MUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JMSI J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund | 1.41% | 4.40% | 2.77% | 2.71% |
MUB iShares National AMT-Free Muni Bond ETF | 1.48% | 3.78% | 1.26% | 3.03% |
Correlation
The correlation between JMSI and MUB is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2023 | 0.81 |
The correlation between JMSI and MUB has been stable across timeframes, ranging from 0.81 to 0.82 - a consistent structural relationship.
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Return for Risk
JMSI vs. MUB — Risk / Return Rank
JMSI
MUB
JMSI vs. MUB - 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 iShares National AMT-Free Muni Bond ETF (MUB). 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.
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.
| JMSI | MUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.46 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 2.31 | -0.30 |
| Martin ratioReturn relative to average drawdown | 6.79 | 8.02 | -1.23 |
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Drawdowns
JMSI vs. MUB - Drawdown Comparison
The maximum JMSI drawdown since its inception was -4.57%, smaller than the maximum MUB drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for JMSI and MUB.
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Drawdown Indicators
| JMSI | MUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.57% | -13.68% | +9.11% |
Max Drawdown (1Y)Largest decline over 1 year | -2.98% | -2.79% | -0.19% |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.34% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.88% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.68% | — |
Current DrawdownCurrent decline from peak | -0.52% | -0.47% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -0.91% | -2.23% | +1.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 0.80% | +0.08% |
Volatility
JMSI vs. MUB - Volatility Comparison
J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund (JMSI) has a higher volatility of 0.81% compared to iShares National AMT-Free Muni Bond ETF (MUB) at 0.77%. This indicates that JMSI's price experiences larger fluctuations and is considered to be riskier than MUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMSI | MUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.81% | 0.77% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.25% | 2.27% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.89% | 2.88% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.71% | 4.07% | -0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.71% | 4.92% | -1.21% |
JMSI vs. MUB - Expense Ratio Comparison
JMSI has a 0.18% expense ratio, which is higher than MUB's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
JMSI vs. MUB - Dividend Comparison
JMSI's dividend yield for the trailing twelve months is around 3.64%, more than MUB's 3.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JMSI J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund | 3.64% | 3.65% | 3.66% | 1.79% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MUB iShares National AMT-Free Muni Bond ETF | 3.17% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
Frequently Asked Questions
JMSI and MUB have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JMSI has higher volatility (0.81%) compared to MUB (0.77%). In terms of maximum drawdown, JMSI dropped -4.57% vs MUB's -13.68%.
On 1-year performance, MUB leads with 6.40% vs 5.96% for JMSI. On fees, MUB is cheaper at 0.07% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MUB has performed better with a 6.40% return vs 5.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MUB is cheaper with a 0.07% expense ratio, compared with 0.18% for JMSI.
JMSI has the higher dividend yield at 3.64%, compared with 3.17% for MUB.
They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.18% for JMSI and 0.07% for MUB.
MUB currently has the higher Sharpe Ratio (2.23 vs 2.07), 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.
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