JMST vs. SHM
Compare and contrast key facts about JPMorgan Ultra-Short Municipal Income ETF (JMST) and SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM).
JMST and SHM 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. SHM is a passively managed fund by State Street that tracks the performance of the Bloomberg Municipal Managed Money Short. It was launched on Oct 10, 2007.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: JMST or SHM.
Performance
JMST vs. SHM - Performance Comparison
Returns By Period
In the year-to-date period, JMST achieves a 3.01% return, which is significantly higher than SHM's 1.51% return.
JMST
3.01%
0.28%
1.92%
3.92%
1.84%
N/A
SHM
1.51%
-0.22%
2.19%
3.48%
0.79%
1.03%
Key characteristics
| JMST | SHM | |
|---|---|---|
| Sharpe Ratio | 5.22 | 1.68 |
| Sortino Ratio | 9.47 | 2.55 |
| Omega Ratio | 2.32 | 1.33 |
| Calmar Ratio | 23.91 | 1.11 |
| Martin Ratio | 104.88 | 5.66 |
| Ulcer Index | 0.04% | 0.65% |
| Daily Std Dev | 0.77% | 2.20% |
| Max Drawdown | -2.41% | -11.61% |
| Current Drawdown | 0.00% | -0.76% |
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JMST vs. SHM - Expense Ratio Comparison
JMST has a 0.18% expense ratio, which is lower than SHM's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Correlation
The correlation between JMST and SHM is 0.30, 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.
Risk-Adjusted Performance
JMST vs. SHM - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Ultra-Short Municipal Income ETF (JMST) and SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM). 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. SHM - Dividend Comparison
JMST's dividend yield for the trailing twelve months is around 3.35%, more than SHM's 1.88% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JMST JPMorgan Ultra-Short Municipal Income ETF | 3.35% | 3.09% | 1.11% | 0.27% | 0.87% | 1.63% | 0.34% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHM SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF | 1.88% | 1.22% | 0.76% | 1.00% | 1.65% | 1.41% | 1.33% | 1.15% | 1.02% | 0.91% | 0.92% | 0.98% |
Drawdowns
JMST vs. SHM - Drawdown Comparison
The maximum JMST drawdown since its inception was -2.41%, smaller than the maximum SHM drawdown of -11.61%. Use the drawdown chart below to compare losses from any high point for JMST and SHM. For additional features, visit the drawdowns tool.
Volatility
JMST vs. SHM - Volatility Comparison
The current volatility for JPMorgan Ultra-Short Municipal Income ETF (JMST) is 0.30%, while SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM) has a volatility of 0.86%. This indicates that JMST experiences smaller price fluctuations and is considered to be less risky than SHM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.