JMUB vs. AGG
JMUB (JPMorgan Municipal ETF) and AGG (iShares Core U.S. Aggregate Bond ETF) are both exchange-traded funds - JMUB is a Municipal Bonds fund actively managed by JPMorgan, while AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. JMUB is actively managed, while AGG is passively managed. Over the past 5 years, JMUB returned 1.30%/yr vs 0.21%/yr for AGG. A 0.58 correlation means they provide meaningful diversification when combined. JMUB charges 0.18%/yr vs 0.03%/yr for AGG.
Performance
JMUB vs. AGG - Performance Comparison
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Returns By Period
In the year-to-date period, JMUB achieves a 1.63% return, which is significantly higher than AGG's 0.96% return.
JMUB
- 1D
- 0.15%
- 1M
- 1.42%
- YTD
- 1.63%
- 6M
- 1.78%
- 1Y
- 5.83%
- 3Y*
- 3.74%
- 5Y*
- 1.30%
- 10Y*
- —
AGG
- 1D
- 0.49%
- 1M
- 1.10%
- YTD
- 0.96%
- 6M
- 0.82%
- 1Y
- 4.41%
- 3Y*
- 4.13%
- 5Y*
- 0.21%
- 10Y*
- 1.59%
JMUB vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
JMUB JPMorgan Municipal ETF | 1.63% | 4.34% | 1.88% | 5.96% | -7.43% | 1.58% | 4.98% | 8.37% | 2.95% |
AGG iShares Core U.S. Aggregate Bond ETF | 0.96% | 7.19% | 1.31% | 5.65% | -13.02% | -1.77% | 7.48% | 8.46% | 2.47% |
Correlation
The correlation between JMUB and AGG is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2018 | 0.58 |
The correlation between JMUB and AGG shifts across timeframes, from 0.58 (all time) to 0.77 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
JMUB vs. AGG — Risk / Return Rank
JMUB
AGG
JMUB vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Municipal ETF (JMUB) and iShares Core U.S. Aggregate Bond ETF (AGG). 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.
| JMUB | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.29 | ||
| Sortino ratioReturn per unit of downside risk | +1.78 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.21 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 1.60 | +0.69 |
| Martin ratioReturn relative to average drawdown | 7.87 | 4.61 | +3.26 |
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Drawdowns
JMUB vs. AGG - Drawdown Comparison
The maximum JMUB drawdown since its inception was -12.50%, smaller than the maximum AGG drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for JMUB and AGG.
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Drawdown Indicators
| JMUB | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.50% | -18.43% | +5.93% |
Max Drawdown (1Y)Largest decline over 1 year | -2.55% | -2.76% | +0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -4.79% | -6.11% | +1.32% |
Max Drawdown (5Y)Largest decline over 5 years | -12.06% | -17.82% | +5.76% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.43% | — |
Current DrawdownCurrent decline from peak | -0.24% | -1.45% | +1.21% |
Average DrawdownAverage peak-to-trough decline | -2.49% | -2.71% | +0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | 0.96% | -0.22% |
Volatility
JMUB vs. AGG - Volatility Comparison
The current volatility for JPMorgan Municipal ETF (JMUB) is 0.70%, while iShares Core U.S. Aggregate Bond ETF (AGG) has a volatility of 1.19%. This indicates that JMUB experiences smaller price fluctuations and is considered to be less risky than AGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMUB | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 1.19% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 1.87% | 2.87% | -1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.39% | 3.84% | -1.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.33% | 6.10% | -2.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.13% | 5.41% | -1.28% |
JMUB vs. AGG - Expense Ratio Comparison
JMUB has a 0.18% expense ratio, which is higher than AGG's 0.03% 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
JMUB vs. AGG - Dividend Comparison
JMUB's dividend yield for the trailing twelve months is around 3.59%, less than AGG's 3.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGG iShares Core U.S. Aggregate Bond ETF | 3.96% | 3.89% | 3.74% | 3.13% | 2.39% | 1.77% | 2.14% | 2.70% | 2.72% | 2.32% | 2.39% | 2.45% |
JMUB JPMorgan Municipal ETF | 3.59% | 3.52% | 3.50% | 3.20% | 2.16% | 1.94% | 2.13% | 3.66% | 0.45% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JMUB and AGG have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGG has higher volatility (1.19%) compared to JMUB (0.70%). In terms of maximum drawdown, JMUB dropped -12.50% vs AGG's -18.43%.
On 5-year performance, JMUB leads with 1.30% vs 0.21% for AGG. On fees, AGG is cheaper at 0.03% per year. On volatility, JMUB has been the lower-risk option at 0.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JMUB has performed better with a 1.30% return vs 0.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGG is cheaper with a 0.03% expense ratio, compared with 0.18% for JMUB.
AGG has the higher dividend yield at 3.96%, compared with 3.59% for JMUB.
JMUB is categorized as Municipal Bonds, while AGG is Total Bond Market. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.18% for JMUB and 0.03% for AGG.
JMUB currently has the higher Sharpe Ratio (2.45 vs 1.16), 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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