JMST vs. VYMI

Last updated Jun 9, 2026

JMST (JPMorgan Ultra-Short Municipal Income ETF) and VYMI (Vanguard International High Dividend Yield ETF) are both exchange-traded funds - JMST is a Ultrashort Bond fund actively managed by JPMorgan, while VYMI is a Dividend fund tracking the FTSE All-World ex US High Dividend Yield Index. JMST is actively managed, while VYMI is passively managed. Over the past 5 years, JMST returned 2.27%/yr vs 11.79%/yr for VYMI. At a 0.06 correlation, their price movements are largely independent. JMST charges 0.18%/yr vs 0.07%/yr for VYMI.

Performance

JMST vs. VYMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Ultra-Short Municipal Income ETF (JMST) and Vanguard International High Dividend Yield ETF (VYMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JMST achieves a 1.03% return, which is significantly lower than VYMI's 10.04% return.

JMST

• 1D: -0.02%
• 1M: 0.24%
• YTD: 1.03%
• 6M: 1.30%
• 1Y: 2.98%
• 3Y*: 3.34%
• 5Y*: 2.27%
• 10Y*: —

VYMI

• 1D: 0.24%
• 1M: -1.37%
• YTD: 10.04%
• 6M: 13.58%
• 1Y: 27.88%
• 3Y*: 20.99%
• 5Y*: 11.79%
• 10Y*: 10.62%

*Multi-year figures are annualized to reflect compound growth (CAGR)

JMST vs. VYMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
JMST JPMorgan Ultra-Short Municipal Income ETF	1.03%	3.35%	3.31%	3.56%	0.07%	0.31%	2.00%	2.09%	0.70%
VYMI Vanguard International High Dividend Yield ETF	10.04%	38.05%	7.06%	17.07%	-7.02%	15.39%	-1.11%	18.43%	-4.09%

Correlation

The correlation between JMST and VYMI is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (All Time) Calculated using the full available price history since Oct 19, 2018	0.06

The correlation between JMST and VYMI shifts across timeframes, from 0.06 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.

JMST vs. VYMI - Sectors Allocation Comparison

Sectors	JMST	VYMI
Financial Services	5.1%	41.9%
Technology	2.4%	4.3%
Consumer Cyclical	1.2%	6.5%
Communication Services	0.9%	4.0%
Energy	0.8%	9.5%
Real Estate	0.6%	1.3%
Industrials	0.6%	6.6%
Healthcare	0.5%	6.6%
Basic Materials	0.5%	6.8%
Consumer Defensive	0.4%	7.0%
Utilities	0.2%	5.6%

Return for Risk

JMST vs. VYMI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JMST

JMST Risk / Return Rank: 98
JMST Sharpe Ratio Rank: 98
JMST Sortino Ratio Rank: 99
JMST Omega Ratio Rank: 99
JMST Calmar Ratio Rank: 98
JMST Martin Ratio Rank: 98

VYMI

VYMI Risk / Return Rank: 69
VYMI Sharpe Ratio Rank: 73
VYMI Sortino Ratio Rank: 72
VYMI Omega Ratio Rank: 72
VYMI Calmar Ratio Rank: 61
VYMI Martin Ratio Rank: 65

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JMST vs. VYMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Ultra-Short Municipal Income ETF (JMST) and Vanguard International High Dividend Yield ETF (VYMI). 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	VYMI	Difference
Sharpe ratio: Return per unit of total volatility	5.10	2.14	+2.96
Sortino ratio: Return per unit of downside risk	8.46	2.91	+5.55
Omega ratio: Gain probability vs. loss probability	2.55	1.39	+1.16
Calmar ratio: Return relative to maximum drawdown	11.74	2.76	+8.98
Martin ratio: Return relative to average drawdown	64.42	10.83	+53.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JMST vs. VYMI - Sharpe Ratio Comparison

The current JMST Sharpe Ratio is 5.10, which is higher than the VYMI Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of JMST and VYMI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JMST	VYMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.10	2.14	+2.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.76	0.80	+1.96
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.63	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.89	0.64	+1.25

Drawdowns

JMST vs. VYMI - Drawdown Comparison

The maximum JMST drawdown since its inception was -2.41%, smaller than the maximum VYMI drawdown of -40.00%. Use the drawdown chart below to compare losses from any high point for JMST and VYMI.

Drawdown Indicators

	JMST	VYMI	Difference
Max Drawdown Largest peak-to-trough decline	-2.41%	-40.00%	+37.59%
Max Drawdown (1Y) Largest decline over 1 year	-0.25%	-10.14%	+9.89%
Max Drawdown (3Y) Largest decline over 3 years	-0.71%	-12.84%	+12.13%
Max Drawdown (5Y) Largest decline over 5 years	-1.15%	-24.05%	+22.90%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.00%	—
Current Drawdown Current decline from peak	-0.02%	-2.52%	+2.50%
Average Drawdown Average peak-to-trough decline	-0.12%	-6.31%	+6.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.05%	2.58%	-2.53%

Volatility

JMST vs. VYMI - Volatility Comparison

The current volatility for JPMorgan Ultra-Short Municipal Income ETF (JMST) is 0.17%, while Vanguard International High Dividend Yield ETF (VYMI) has a volatility of 3.69%. This indicates that JMST experiences smaller price fluctuations and is considered to be less risky than VYMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMST	VYMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.17%	3.69%	-3.52%
Volatility (6M) Calculated over the trailing 6-month period	0.41%	10.94%	-10.53%
Volatility (1Y) Calculated over the trailing 1-year period	0.59%	13.13%	-12.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.83%	14.87%	-14.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.14%	16.88%	-15.74%

JMST vs. VYMI - Expense Ratio Comparison

JMST has a 0.18% expense ratio, which is higher than VYMI'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%.

Dividends

JMST vs. VYMI - Dividend Comparison

JMST's dividend yield for the trailing twelve months is around 2.65%, less than VYMI's 3.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
JMST JPMorgan Ultra-Short Municipal Income ETF	2.65%	2.84%	3.32%	3.09%	1.10%	0.27%	0.87%	1.63%	0.28%	0.00%	0.00%
VYMI Vanguard International High Dividend Yield ETF	3.48%	3.68%	4.84%	4.58%	4.70%	4.30%	3.22%	4.20%	4.29%	3.21%	2.39%

Frequently Asked Questions

Can I hold both JMST and VYMI in my portfolio?

JMST and VYMI have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JMST or VYMI?

VYMI has higher volatility (3.69%) compared to JMST (0.17%). In terms of maximum drawdown, JMST dropped -2.41% vs VYMI's -40.00%.

Which ETF is better, JMST or VYMI?

On 5-year performance, VYMI leads with 11.79% vs 2.27% for JMST. On fees, VYMI is cheaper at 0.07% per year. On volatility, JMST has been the lower-risk option at 0.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JMST or VYMI?

Over the 5-year period, VYMI has performed better with a 11.79% return vs 2.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JMST or VYMI?

VYMI is cheaper with a 0.07% expense ratio, compared with 0.18% for JMST.

Which ETF pays a higher dividend yield, JMST or VYMI?

VYMI has the higher dividend yield at 3.48%, compared with 2.65% for JMST.

What is the main difference between JMST and VYMI?

JMST is categorized as Ultrashort Bond, while VYMI is Dividend. They also come from different issuers: JPMorgan and Vanguard. Their fees differ too: 0.18% for JMST and 0.07% for VYMI.

Which has better risk-adjusted returns?

JMST currently has the higher Sharpe Ratio (5.10 vs 2.14), 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.