JMST vs. SUB
Compare and contrast key facts about JPMorgan Ultra-Short Municipal Income ETF (JMST) and iShares Short-Term National Muni Bond ETF (SUB).
JMST and SUB 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. SUB is a passively managed fund by iShares that tracks the performance of the ICE Short Maturity AMT-Free US National Municipal Index - Benchmark TR Gross. It was launched on Nov 5, 2008.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: JMST or SUB.
Key characteristics
| JMST | SUB | |
|---|---|---|
| YTD Return | 1.01% | -0.05% |
| 1Y Return | 3.49% | 2.47% |
| 3Y Return (Ann) | 1.61% | 0.27% |
| 5Y Return (Ann) | 1.64% | 1.01% |
| Sharpe Ratio | 4.13 | 1.60 |
| Daily Std Dev | 0.84% | 1.55% |
| Max Drawdown | -2.41% | -9.46% |
| Current Drawdown | 0.00% | -0.11% |
Correlation
The correlation between JMST and SUB is 0.26, 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. SUB - Performance Comparison
In the year-to-date period, JMST achieves a 1.01% return, which is significantly higher than SUB's -0.05% 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. SUB - Expense Ratio Comparison
JMST has a 0.18% expense ratio, which is higher than SUB's 0.07% 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%.
Risk-Adjusted Performance
JMST vs. SUB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Ultra-Short Municipal Income ETF (JMST) and iShares Short-Term National Muni Bond ETF (SUB). 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. SUB - Dividend Comparison
JMST's dividend yield for the trailing twelve months is around 3.32%, more than SUB's 1.87% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JMST JPMorgan Ultra-Short Municipal Income ETF | 3.32% | 3.09% | 1.10% | 0.27% | 0.87% | 1.63% | 0.34% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SUB iShares Short-Term National Muni Bond ETF | 1.87% | 1.73% | 0.86% | 0.72% | 1.23% | 1.58% | 1.32% | 0.95% | 0.75% | 0.77% | 0.76% | 0.84% |
Drawdowns
JMST vs. SUB - Drawdown Comparison
The maximum JMST drawdown since its inception was -2.41%, smaller than the maximum SUB drawdown of -9.46%. Use the drawdown chart below to compare losses from any high point for JMST and SUB. For additional features, visit the drawdowns tool.
Volatility
JMST vs. SUB - Volatility Comparison
The current volatility for JPMorgan Ultra-Short Municipal Income ETF (JMST) is 0.20%, while iShares Short-Term National Muni Bond ETF (SUB) has a volatility of 0.37%. This indicates that JMST experiences smaller price fluctuations and is considered to be less risky than SUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.