JMSI vs. XDIV

Last updated Jul 17, 2026

JMSI (J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund) and XDIV (Roundhill S&P 500 No Dividend Target ETF) are both exchange-traded funds - JMSI is a Municipal Bonds fund actively managed by JPMorgan, while XDIV is a S&P 500 fund actively managed by Roundhill. Both are actively managed. Over the past year, JMSI returned 5.61% vs 21.53% for XDIV. At a 0.24 correlation, their price movements are largely independent. JMSI charges 0.18%/yr vs 0.08%/yr for XDIV.

Performance

JMSI vs. XDIV - 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 Roundhill S&P 500 No Dividend Target ETF (XDIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JMSI achieves a 0.82% return, which is significantly lower than XDIV's 10.23% return.

JMSI

• 1D: -0.20%
• 1M: -0.35%
• 6M: 0.19%
• YTD: 0.82%
• 1Y: 5.61%
• 3Y*: 3.57%
• 5Y*: —
• 10Y*: —

XDIV

• 1D: -0.50%
• 1M: 0.17%
• 6M: 8.66%
• YTD: 10.23%
• 1Y: 21.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JMSI vs. XDIV - Yearly Performance Comparison

	2026 (YTD)	2025
JMSI J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund	0.82%	4.09%
XDIV Roundhill S&P 500 No Dividend Target ETF	10.23%	10.07%

Correlation

The correlation between JMSI and XDIV is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (All Time) Calculated using the full available price history since Jul 10, 2025	0.24

Return for Risk

JMSI vs. XDIV — Risk / Return Rank

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

JMSI

JMSI Risk / Return Rank: 66
JMSI Sharpe Ratio Rank: 76
JMSI Sortino Ratio Rank: 79
JMSI Omega Ratio Rank: 83
JMSI Calmar Ratio Rank: 45
JMSI Martin Ratio Rank: 48

XDIV

XDIV Risk / Return Rank: 65
XDIV Sharpe Ratio Rank: 65
XDIV Sortino Ratio Rank: 64
XDIV Omega Ratio Rank: 64
XDIV Calmar Ratio Rank: 59
XDIV Martin Ratio Rank: 72

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. XDIV - 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 Roundhill S&P 500 No Dividend Target ETF (XDIV). 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	XDIV	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.70	+0.24
Sortino ratio: Return per unit of downside risk	2.86	2.38	+0.48
Omega ratio: Gain probability vs. loss probability	1.39	1.31	+0.09
Calmar ratio: Return relative to maximum drawdown	1.89	2.36	-0.47
Martin ratio: Return relative to average drawdown	6.39	10.38	-4.00

JMSI vs. XDIV - Sharpe Ratio Comparison

The current JMSI Sharpe Ratio is 1.95, which is comparable to the XDIV Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of JMSI and XDIV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JMSI vs. XDIV - Drawdown Comparison

The maximum JMSI drawdown since its inception was -4.57%, smaller than the maximum XDIV drawdown of -9.16%. Use the drawdown chart below to compare losses from any high point for JMSI and XDIV.

Drawdown Indicators

	JMSI	XDIV	Difference
Max Drawdown Largest peak-to-trough decline	-4.57%	-9.16%	+4.59%
Max Drawdown (1Y) Largest decline over 1 year	-2.98%	-9.16%	+6.18%
Max Drawdown (3Y) Largest decline over 3 years	-4.57%	—	—
Current Drawdown Current decline from peak	-1.11%	-1.03%	-0.08%
Average Drawdown Average peak-to-trough decline	-0.91%	-1.27%	+0.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	2.08%	-1.20%

Volatility

JMSI vs. XDIV - Volatility Comparison

The current volatility for J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund (JMSI) is 0.70%, while Roundhill S&P 500 No Dividend Target ETF (XDIV) has a volatility of 3.24%. This indicates that JMSI experiences smaller price fluctuations and is considered to be less risky than XDIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMSI	XDIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	3.24%	-2.54%
Volatility (6M) Calculated over the trailing 6-month period	2.26%	10.20%	-7.94%
Volatility (1Y) Calculated over the trailing 1-year period	2.90%	12.70%	-9.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.68%	12.61%	-8.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.68%	12.61%	-8.93%

JMSI vs. XDIV - Expense Ratio Comparison

JMSI has a 0.18% expense ratio, which is higher than XDIV's 0.08% 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. XDIV - Dividend Comparison

JMSI's dividend yield for the trailing twelve months is around 3.67%, while XDIV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
JMSI J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund	3.67%	3.65%	3.66%	1.79%
XDIV Roundhill S&P 500 No Dividend Target ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JMSI and XDIV in my portfolio?

JMSI and XDIV have a correlation of 0.23, 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 XDIV?

XDIV has higher volatility (3.24%) compared to JMSI (0.70%). In terms of maximum drawdown, JMSI dropped -4.57% vs XDIV's -9.16%.

Which ETF is better, JMSI or XDIV?

On 1-year performance, XDIV leads with 21.53% vs 5.61% for JMSI. On fees, XDIV is cheaper at 0.08% per year. On volatility, JMSI has been the lower-risk option at 0.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JMSI or XDIV?

Over the 1-year period, XDIV has performed better with a 21.53% return vs 5.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JMSI or XDIV?

XDIV is cheaper with a 0.08% expense ratio, compared with 0.18% for JMSI.

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

JMSI has the higher dividend yield at 3.67%, compared with 0.00% for XDIV.

What is the main difference between JMSI and XDIV?

JMSI is categorized as Municipal Bonds, while XDIV is S&P 500. They also come from different issuers: JPMorgan and Roundhill. Their fees differ too: 0.18% for JMSI and 0.08% for XDIV.

Which has better risk-adjusted returns?

JMSI currently has the higher Sharpe Ratio (1.95 vs 1.70), 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.