JMST vs. BBUS
JMST (JPMorgan Ultra-Short Municipal Income ETF) and BBUS (JPMorgan BetaBuilders U.S. Equity ETF) are both exchange-traded funds - JMST is a Ultrashort Bond fund actively managed by JPMorgan, while BBUS is a Large Cap Blend Equities fund tracking the Morningstar US Target Market Exposure Index. JMST is actively managed, while BBUS is passively managed. Over the past 5 years, JMST returned 2.30%/yr vs 12.52%/yr for BBUS. At a 0.07 correlation, their price movements are largely independent. JMST charges 0.18%/yr vs 0.02%/yr for BBUS.
Performance
JMST vs. BBUS - Performance Comparison
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Returns By Period
In the year-to-date period, JMST achieves a 1.13% return, which is significantly lower than BBUS's 7.57% return.
JMST
- 1D
- 0.02%
- 1M
- 0.38%
- YTD
- 1.13%
- 6M
- 1.20%
- 1Y
- 2.89%
- 3Y*
- 3.35%
- 5Y*
- 2.30%
- 10Y*
- —
BBUS
- 1D
- -1.68%
- 1M
- -1.53%
- YTD
- 7.57%
- 6M
- 6.62%
- 1Y
- 22.78%
- 3Y*
- 20.70%
- 5Y*
- 12.52%
- 10Y*
- —
JMST vs. BBUS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
JMST JPMorgan Ultra-Short Municipal Income ETF | 1.13% | 3.35% | 3.31% | 3.56% | 0.07% | 0.31% | 2.00% | 1.63% |
BBUS JPMorgan BetaBuilders U.S. Equity ETF | 7.57% | 17.77% | 24.89% | 27.20% | -19.46% | 27.13% | 20.69% | 16.26% |
Correlation
The correlation between JMST and BBUS is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Mar 13, 2019 | 0.07 |
The correlation between JMST and BBUS shifts across timeframes, from 0.07 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
JMST vs. BBUS — Risk / Return Rank
JMST
BBUS
JMST vs. BBUS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Ultra-Short Municipal Income ETF (JMST) and JPMorgan BetaBuilders U.S. Equity ETF (BBUS). 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.
| JMST | BBUS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.03 | ||
| Sortino ratioReturn per unit of downside risk | +5.43 | ||
| Omega ratioGain probability vs. loss probability | 2.42 | 1.33 | +1.09 |
| Calmar ratioReturn relative to maximum drawdown | 11.38 | 2.49 | +8.90 |
| Martin ratioReturn relative to average drawdown | 61.83 | 10.97 | +50.86 |
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Drawdowns
JMST vs. BBUS - Drawdown Comparison
The maximum JMST drawdown since its inception was -2.41%, smaller than the maximum BBUS drawdown of -35.35%. Use the drawdown chart below to compare losses from any high point for JMST and BBUS.
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Drawdown Indicators
| JMST | BBUS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.41% | -35.35% | +32.94% |
Max Drawdown (1Y)Largest decline over 1 year | -0.25% | -9.21% | +8.96% |
Max Drawdown (3Y)Largest decline over 3 years | -0.71% | -19.01% | +18.30% |
Max Drawdown (5Y)Largest decline over 5 years | -1.15% | -25.46% | +24.31% |
Current DrawdownCurrent decline from peak | 0.00% | -3.47% | +3.47% |
Average DrawdownAverage peak-to-trough decline | -0.12% | -5.43% | +5.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 2.08% | -2.03% |
Volatility
JMST vs. BBUS - Volatility Comparison
The current volatility for JPMorgan Ultra-Short Municipal Income ETF (JMST) is 0.19%, while JPMorgan BetaBuilders U.S. Equity ETF (BBUS) has a volatility of 5.00%. This indicates that JMST experiences smaller price fluctuations and is considered to be less risky than BBUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMST | BBUS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.19% | 5.00% | -4.81% |
Volatility (6M)Calculated over the trailing 6-month period | 0.43% | 9.95% | -9.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.60% | 12.59% | -11.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.83% | 17.14% | -16.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.13% | 19.59% | -18.46% |
JMST vs. BBUS - Expense Ratio Comparison
JMST has a 0.18% expense ratio, which is higher than BBUS's 0.02% 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
JMST vs. BBUS - Dividend Comparison
JMST's dividend yield for the trailing twelve months is around 2.65%, more than BBUS's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BBUS JPMorgan BetaBuilders U.S. Equity ETF | 1.01% | 1.07% | 1.21% | 1.38% | 1.57% | 1.11% | 1.43% | 1.37% | 0.00% |
JMST JPMorgan Ultra-Short Municipal Income ETF | 2.65% | 2.84% | 3.32% | 3.09% | 1.10% | 0.27% | 0.87% | 1.63% | 0.28% |
Frequently Asked Questions
JMST and BBUS have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BBUS has higher volatility (5.00%) compared to JMST (0.19%). In terms of maximum drawdown, JMST dropped -2.41% vs BBUS's -35.35%.
On 5-year performance, BBUS leads with 12.52% vs 2.30% for JMST. On fees, BBUS is cheaper at 0.02% per year. On volatility, JMST has been the lower-risk option at 0.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BBUS has performed better with a 12.52% return vs 2.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBUS is cheaper with a 0.02% expense ratio, compared with 0.18% for JMST.
JMST has the higher dividend yield at 2.65%, compared with 1.01% for BBUS.
JMST is categorized as Ultrashort Bond, while BBUS is Large Cap Blend Equities. Their fees differ too: 0.18% for JMST and 0.02% for BBUS.
JMST currently has the higher Sharpe Ratio (4.85 vs 1.82), 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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