JMST vs. OILT
JMST (JPMorgan Ultra-Short Municipal Income ETF) and OILT (Texas Capital Texas Oil Index ETF) are both exchange-traded funds - JMST is a Ultrashort Bond fund actively managed by JPMorgan, while OILT is a Energy Equities fund tracking the Alerian Texas Weighted Oil and Gas Index - Benchmark TR Gross. JMST is actively managed, while OILT is passively managed. Over the past year, JMST returned 2.45% vs 41.13% for OILT. Their -0.07 correlation means they have often moved in opposite directions in the past. JMST charges 0.18%/yr vs 0.35%/yr for OILT.
Performance
JMST vs. OILT - Performance Comparison
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Returns By Period
In the year-to-date period, JMST achieves a 1.22% return, which is significantly lower than OILT's 34.17% return.
JMST
- 1D
- -0.02%
- 1M
- -0.04%
- 6M
- 0.84%
- YTD
- 1.22%
- 1Y
- 2.45%
- 3Y*
- 3.28%
- 5Y*
- 2.30%
- 10Y*
- —
- ALL TIME*
- 2.13%
OILT
- 1D
- 1.52%
- 1M
- 12.96%
- 6M
- 20.92%
- YTD
- 34.17%
- 1Y
- 41.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.92%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $51.89M | $60.71M | $58.68M | |
| $81.32K | $66.65K | $96.97K |
JMST vs. OILT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JMST JPMorgan Ultra-Short Municipal Income ETF | 1.22% | 3.35% | 3.31% | 0.12% |
OILT Texas Capital Texas Oil Index ETF | 34.17% | -3.30% | 0.87% | 0.13% |
Correlation
The correlation between JMST and OILT is -0.21, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.21 |
Correlation (All Time) Calculated using the full available price history since Dec 21, 2023 | -0.07 |
The correlation between JMST and OILT shifts across timeframes, from -0.21 (1 year) to -0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
JMST vs. OILT — Risk / Return Rank
JMST
OILT
JMST vs. OILT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Ultra-Short Municipal Income ETF (JMST) and Texas Capital Texas Oil Index ETF (OILT). 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 | OILT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.65 | ||
| Sortino ratioReturn per unit of downside risk | +4.52 | ||
| Omega ratioGain probability vs. loss probability | 2.06 | 1.23 | +0.83 |
| Calmar ratioReturn relative to maximum drawdown | 9.82 | 1.83 | +7.99 |
| Martin ratioReturn relative to average drawdown | 50.25 | 4.74 | +45.51 |
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Drawdowns
JMST vs. OILT - Drawdown Comparison
The maximum JMST drawdown since its inception was -2.41%, smaller than the maximum OILT drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for JMST and OILT.
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Drawdown Indicators
| JMST | OILT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.41% | -35.21% | +32.80% |
Max Drawdown (1Y)Largest decline over 1 year | -0.25% | -20.72% | +20.47% |
Max Drawdown (3Y)Largest decline over 3 years | -0.71% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -1.15% | — | — |
Current DrawdownCurrent decline from peak | -0.04% | -9.45% | +9.41% |
Average DrawdownAverage peak-to-trough decline | -0.12% | -13.02% | +12.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 7.97% | -7.92% |
Volatility
JMST vs. OILT - Volatility Comparison
The current volatility for JPMorgan Ultra-Short Municipal Income ETF (JMST) is 0.21%, while Texas Capital Texas Oil Index ETF (OILT) has a volatility of 8.46%. This indicates that JMST experiences smaller price fluctuations and is considered to be less risky than OILT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMST | OILT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.21% | 8.46% | -8.25% |
Volatility (6M)Calculated over the trailing 6-month period | 0.44% | 21.75% | -21.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.63% | 28.10% | -27.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.83% | 28.73% | -27.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.13% | 28.73% | -27.60% |
JMST vs. OILT - Expense Ratio Comparison
JMST has a 0.18% expense ratio, which is lower than OILT's 0.35% expense ratio.
Dividends
JMST vs. OILT - Dividend Comparison
JMST's dividend yield for the trailing twelve months is around 2.62%, more than OILT's 2.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
JMST JPMorgan Ultra-Short Municipal Income ETF | 2.40% | 2.84% | 3.32% | 3.09% | 1.10% | 0.27% | 0.87% | 1.63% | 0.28% |
OILT Texas Capital Texas Oil Index ETF | 2.55% | 3.12% | 2.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JMST and OILT have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILT has higher volatility (8.46%) compared to JMST (0.21%). In terms of maximum drawdown, JMST dropped -2.41% vs OILT's -35.21%.
On 1-year performance, OILT leads with 41.13% vs 2.45% for JMST. On fees, JMST is cheaper at 0.18% per year. On volatility, JMST has been the lower-risk option at 0.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, OILT has performed better with a 41.13% return vs 2.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JMST is cheaper with a 0.18% expense ratio, compared with 0.35% for OILT.
OILT has the higher dividend yield at 2.55%, compared with 2.40% for JMST.
JMST is categorized as Ultrashort Bond, while OILT is Energy Equities. They also come from different issuers: JPMorgan and Texas Capital. Their fees differ too: 0.18% for JMST and 0.35% for OILT.
JMST currently has the higher Sharpe Ratio (4.00 vs 1.35), 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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