JMSI vs. TAXS
JMSI (J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund) and TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) are both Municipal Bonds funds. JMSI is actively managed, while TAXS is passively managed. Their 0.57 correlation means they have sometimes moved together and sometimes differently. JMSI charges 0.18%/yr vs 0.05%/yr for TAXS.
Performance
JMSI vs. TAXS - Performance Comparison
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Returns By Period
In the year-to-date period, JMSI achieves a -0.08% return, which is significantly lower than TAXS's 0.84% return.
JMSI
- 1D
- -0.13%
- 1M
- -1.81%
- 6M
- -0.76%
- YTD
- -0.08%
- 1Y
- 3.90%
- 3Y*
- 3.43%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.22%
TAXS
- 1D
- 0.00%
- 1M
- -0.36%
- 6M
- 0.30%
- YTD
- 0.84%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.74M | $1.90M | $1.78M | |
| $619.80K | $883.25K | $948.95K |
JMSI vs. TAXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
JMSI J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund | -0.08% | 4.05% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 0.84% | 1.22% |
Correlation
The correlation between JMSI and TAXS is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025 | 0.57 |
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Return for Risk
JMSI vs. TAXS — Risk / Return Rank
JMSI
TAXS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
JMSI vs. TAXS - 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 Northern Trust Short-Term Tax-Exempt Bond ETF (TAXS). 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 | TAXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.29 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | — | — |
| Martin ratioReturn relative to average drawdown | 4.75 | — | — |
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Drawdowns
JMSI vs. TAXS - Drawdown Comparison
The maximum JMSI drawdown since its inception was -4.57%, which is greater than TAXS's maximum drawdown of -0.84%. Use the drawdown chart below to compare losses from any high point for JMSI and TAXS.
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Drawdown Indicators
| JMSI | TAXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.57% | -0.84% | -3.73% |
Max Drawdown (1Y)Largest decline over 1 year | -2.98% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -3.64% | — | — |
Current DrawdownCurrent decline from peak | -1.98% | -0.39% | -1.59% |
Average DrawdownAverage peak-to-trough decline | -0.92% | -0.22% | -0.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | — | — |
Volatility
JMSI vs. TAXS - Volatility Comparison
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Volatility by Period
| JMSI | TAXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.45% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.04% | 1.03% | +2.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.71% | 1.03% | +2.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.71% | 1.03% | +2.68% |
JMSI vs. TAXS - Expense Ratio Comparison
JMSI has a 0.18% expense ratio, which is higher than TAXS's 0.05% 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. TAXS - Dividend Comparison
JMSI's dividend yield for the trailing twelve months is around 3.71%, more than TAXS's 2.04% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
JMSI J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund | 3.42% | 3.65% | 3.66% | 1.79% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 2.04% | 0.74% | 0.00% | 0.00% |
Frequently Asked Questions
JMSI and TAXS have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TAXS is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TAXS is cheaper with a 0.05% expense ratio, compared with 0.18% for JMSI.
JMSI has the higher dividend yield at 3.42%, compared with 2.04% for TAXS.
They also come from different issuers: JPMorgan and Northern Trust. Their fees differ too: 0.18% for JMSI and 0.05% for TAXS.
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