JMST vs. VMLUX
Compare and contrast key facts about JPMorgan Ultra-Short Municipal Income ETF (JMST) and Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX).
JMST is an actively managed fund by JPMorgan. It was launched on Oct 16, 2018. VMLUX is managed by Vanguard. It was launched on Feb 12, 2001.
Performance
JMST vs. VMLUX - Performance Comparison
Loading graphics...
JMST vs. VMLUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
JMST JPMorgan Ultra-Short Municipal Income ETF | 0.50% | 3.35% | 3.31% | 3.56% | 0.07% | 0.31% | 2.00% | 2.09% | 0.70% |
VMLUX Vanguard Limited-Term Tax-Exempt Fund Admiral Shares | -0.12% | 5.50% | 3.25% | 4.29% | -2.90% | 0.23% | 3.38% | 4.21% | 1.35% |
Returns By Period
In the year-to-date period, JMST achieves a 0.50% return, which is significantly higher than VMLUX's -0.12% return.
JMST
- 1D
- 0.02%
- 1M
- -0.07%
- YTD
- 0.50%
- 6M
- 1.20%
- 1Y
- 3.07%
- 3Y*
- 3.25%
- 5Y*
- 2.20%
- 10Y*
- —
VMLUX
- 1D
- 0.00%
- 1M
- -1.53%
- YTD
- -0.12%
- 6M
- 0.59%
- 1Y
- 3.86%
- 3Y*
- 3.78%
- 5Y*
- 2.05%
- 10Y*
- 2.06%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
JMST vs. VMLUX - Expense Ratio Comparison
JMST has a 0.18% expense ratio, which is higher than VMLUX's 0.09% 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%.
Return for Risk
JMST vs. VMLUX — Risk / Return Rank
JMST
VMLUX
JMST vs. VMLUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Ultra-Short Municipal Income ETF (JMST) and Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX). 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.
| JMST | VMLUX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.81 | 1.97 | +1.85 |
Sortino ratioReturn per unit of downside risk | 5.54 | 2.95 | +2.59 |
Omega ratioGain probability vs. loss probability | 2.23 | 1.66 | +0.57 |
Calmar ratioReturn relative to maximum drawdown | 4.43 | 2.32 | +2.11 |
Martin ratioReturn relative to average drawdown | 23.50 | 10.14 | +13.37 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| JMST | VMLUX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.81 | 1.97 | +1.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.68 | 1.11 | +1.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.07 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.86 | 1.46 | +0.40 |
Correlation
The correlation between JMST and VMLUX 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.
Dividends
JMST vs. VMLUX - Dividend Comparison
JMST's dividend yield for the trailing twelve months is around 2.77%, less than VMLUX's 3.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JMST JPMorgan Ultra-Short Municipal Income ETF | 2.77% | 2.84% | 3.32% | 3.09% | 1.10% | 0.27% | 0.87% | 1.63% | 0.28% | 0.00% | 0.00% | 0.00% |
VMLUX Vanguard Limited-Term Tax-Exempt Fund Admiral Shares | 3.14% | 3.85% | 3.38% | 2.39% | 1.64% | 1.04% | 1.70% | 2.10% | 1.89% | 1.65% | 1.62% | 1.58% |
Drawdowns
JMST vs. VMLUX - Drawdown Comparison
The maximum JMST drawdown since its inception was -2.41%, smaller than the maximum VMLUX drawdown of -6.41%. Use the drawdown chart below to compare losses from any high point for JMST and VMLUX.
Loading graphics...
Drawdown Indicators
| JMST | VMLUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.41% | -6.41% | +4.00% |
Max Drawdown (1Y)Largest decline over 1 year | -0.71% | -2.02% | +1.31% |
Max Drawdown (5Y)Largest decline over 5 years | -1.15% | -5.60% | +4.45% |
Max Drawdown (10Y)Largest decline over 10 years | — | -6.41% | — |
Current DrawdownCurrent decline from peak | -0.14% | -1.53% | +1.39% |
Average DrawdownAverage peak-to-trough decline | -0.13% | -0.54% | +0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.13% | 0.46% | -0.33% |
Volatility
JMST vs. VMLUX - Volatility Comparison
The current volatility for JPMorgan Ultra-Short Municipal Income ETF (JMST) is 0.18%, while Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX) has a volatility of 0.50%. This indicates that JMST experiences smaller price fluctuations and is considered to be less risky than VMLUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| JMST | VMLUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.18% | 0.50% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 0.47% | 1.03% | -0.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.81% | 2.34% | -1.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.82% | 1.85% | -1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.15% | 1.92% | -0.77% |