JMST vs. FSMB
Compare and contrast key facts about JPMorgan Ultra-Short Municipal Income ETF (JMST) and First Trust Short Duration Managed Municipal ETF (FSMB).
JMST and FSMB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JMST is an actively managed fund by JPMorgan Chase. It was launched on Oct 16, 2018. FSMB is an actively managed fund by First Trust. It was launched on Nov 1, 2018.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: JMST or FSMB.
Key characteristics
| JMST | FSMB | |
|---|---|---|
| YTD Return | 1.01% | 0.15% |
| 1Y Return | 3.49% | 2.57% |
| 3Y Return (Ann) | 1.61% | 0.09% |
| 5Y Return (Ann) | 1.64% | 1.37% |
| Sharpe Ratio | 4.13 | 1.20 |
| Daily Std Dev | 0.84% | 2.06% |
| Max Drawdown | -2.41% | -6.32% |
| Current Drawdown | 0.00% | -0.51% |
Correlation
The correlation between JMST and FSMB is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
JMST vs. FSMB - Performance Comparison
In the year-to-date period, JMST achieves a 1.01% return, which is significantly higher than FSMB's 0.15% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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JMST vs. FSMB - Expense Ratio Comparison
JMST has a 0.18% expense ratio, which is lower than FSMB's 0.45% expense ratio.
Risk-Adjusted Performance
JMST vs. FSMB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Ultra-Short Municipal Income ETF (JMST) and First Trust Short Duration Managed Municipal ETF (FSMB). 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.
Dividends
JMST vs. FSMB - Dividend Comparison
JMST's dividend yield for the trailing twelve months is around 3.32%, more than FSMB's 2.58% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
JMST JPMorgan Ultra-Short Municipal Income ETF | 3.32% | 3.09% | 1.10% | 0.27% | 0.87% | 1.63% | 0.34% |
FSMB First Trust Short Duration Managed Municipal ETF | 2.58% | 2.40% | 1.47% | 1.20% | 1.79% | 2.27% | 0.19% |
Drawdowns
JMST vs. FSMB - Drawdown Comparison
The maximum JMST drawdown since its inception was -2.41%, smaller than the maximum FSMB drawdown of -6.32%. Use the drawdown chart below to compare losses from any high point for JMST and FSMB. For additional features, visit the drawdowns tool.
Volatility
JMST vs. FSMB - Volatility Comparison
The current volatility for JPMorgan Ultra-Short Municipal Income ETF (JMST) is 0.20%, while First Trust Short Duration Managed Municipal ETF (FSMB) has a volatility of 0.37%. This indicates that JMST experiences smaller price fluctuations and is considered to be less risky than FSMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.