JMSI vs. VTEB
JMSI (J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund) and VTEB (Vanguard Tax-Exempt Bond ETF) are both Municipal Bonds funds. JMSI is actively managed, while VTEB is passively managed. Over the past year, JMSI returned 6.08% vs 7.14% for VTEB. A 0.78 correlation means they provide meaningful diversification when combined. JMSI charges 0.18%/yr vs 0.03%/yr for VTEB.
Performance
JMSI vs. VTEB - Performance Comparison
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Returns By Period
In the year-to-date period, JMSI achieves a 1.06% return, which is significantly lower than VTEB's 1.46% return.
JMSI
- 1D
- -0.13%
- 1M
- 0.57%
- YTD
- 1.06%
- 6M
- 1.41%
- 1Y
- 6.08%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VTEB
- 1D
- -0.06%
- 1M
- 0.66%
- YTD
- 1.46%
- 6M
- 1.89%
- 1Y
- 7.14%
- 3Y*
- 3.57%
- 5Y*
- 0.88%
- 10Y*
- 2.09%
JMSI vs. VTEB - 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% |
VTEB Vanguard Tax-Exempt Bond ETF | 1.46% | 3.72% | 1.31% | 3.08% |
Correlation
The correlation between JMSI and VTEB is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2023 | 0.78 |
The correlation between JMSI and VTEB has been stable across timeframes, ranging from 0.78 to 0.80 - a consistent structural relationship.
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Return for Risk
JMSI vs. VTEB — Risk / Return Rank
JMSI
VTEB
JMSI vs. VTEB - 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 Vanguard Tax-Exempt Bond ETF (VTEB). 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 | VTEB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.58 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | 2.65 | -0.60 |
| Martin ratioReturn relative to average drawdown | 7.06 | 9.41 | -2.34 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JMSI | VTEB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.10 | 2.64 | -0.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.23 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.40 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.03 | 0.47 | +0.55 |
Drawdowns
JMSI vs. VTEB - Drawdown Comparison
The maximum JMSI drawdown since its inception was -4.57%, smaller than the maximum VTEB drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for JMSI and VTEB.
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Drawdown Indicators
| JMSI | VTEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.57% | -17.00% | +12.43% |
Max Drawdown (1Y)Largest decline over 1 year | -2.98% | -2.71% | -0.27% |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.53% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.64% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.00% | — |
Current DrawdownCurrent decline from peak | -0.87% | -0.52% | -0.35% |
Average DrawdownAverage peak-to-trough decline | -0.92% | -2.33% | +1.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 0.76% | +0.10% |
Volatility
JMSI vs. VTEB - Volatility Comparison
J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund (JMSI) has a higher volatility of 0.96% compared to Vanguard Tax-Exempt Bond ETF (VTEB) at 0.89%. This indicates that JMSI's price experiences larger fluctuations and is considered to be riskier than VTEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMSI | VTEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 0.89% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.20% | 2.01% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.91% | 2.72% | +0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.73% | 3.90% | -0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.73% | 5.26% | -1.53% |
JMSI vs. VTEB - Expense Ratio Comparison
JMSI has a 0.18% expense ratio, which is higher than VTEB's 0.03% 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. VTEB - Dividend Comparison
JMSI's dividend yield for the trailing twelve months is around 3.65%, more than VTEB's 3.35% 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 | 3.65% | 3.65% | 3.66% | 1.79% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.35% | 3.29% | 3.14% | 2.79% | 2.09% | 1.64% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% |
Frequently Asked Questions
JMSI and VTEB have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JMSI has higher volatility (0.96%) compared to VTEB (0.89%). In terms of maximum drawdown, JMSI dropped -4.57% vs VTEB's -17.00%.
On 1-year performance, VTEB leads with 7.14% vs 6.08% for JMSI. On fees, VTEB is cheaper at 0.03% 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, VTEB has performed better with a 7.14% return vs 6.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTEB is cheaper with a 0.03% expense ratio, compared with 0.18% for JMSI.
JMSI has the higher dividend yield at 3.65%, compared with 3.35% for VTEB.
They also come from different issuers: JPMorgan and Vanguard. Their fees differ too: 0.18% for JMSI and 0.03% for VTEB.
VTEB currently has the higher Sharpe Ratio (2.64 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.
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