JMUB vs. BSNSX
JMUB (JPMorgan Municipal ETF) and BSNSX (Baird Strategic Municipal Bond Fund) are both Municipal Bonds funds. Over the past 5 years, JMUB returned 1.27%/yr vs 2.11%/yr for BSNSX. A 0.69 correlation means they provide meaningful diversification when combined. JMUB charges 0.18%/yr vs 0.55%/yr for BSNSX.
Performance
JMUB vs. BSNSX - Performance Comparison
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Returns By Period
In the year-to-date period, JMUB achieves a 1.48% return, which is significantly lower than BSNSX's 1.68% return.
JMUB
- 1D
- 0.02%
- 1M
- 1.28%
- YTD
- 1.48%
- 6M
- 1.70%
- 1Y
- 5.72%
- 3Y*
- 3.69%
- 5Y*
- 1.27%
- 10Y*
- —
BSNSX
- 1D
- 0.10%
- 1M
- 1.07%
- YTD
- 1.68%
- 6M
- 1.79%
- 1Y
- 5.75%
- 3Y*
- 4.44%
- 5Y*
- 2.11%
- 10Y*
- —
JMUB vs. BSNSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
JMUB JPMorgan Municipal ETF | 1.48% | 4.34% | 1.88% | 5.96% | -7.43% | 1.58% | 4.98% | 0.74% |
BSNSX Baird Strategic Municipal Bond Fund | 1.68% | 4.83% | 2.92% | 6.53% | -5.54% | 2.00% | 8.13% | 0.85% |
Correlation
The correlation between JMUB and BSNSX is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2019 | 0.69 |
The correlation between JMUB and BSNSX shifts across timeframes, from 0.57 (1 year) to 0.72 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
JMUB vs. BSNSX — Risk / Return Rank
JMUB
BSNSX
JMUB vs. BSNSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Municipal ETF (JMUB) and Baird Strategic Municipal Bond Fund (BSNSX). 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 | BSNSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.24 | ||
| Sortino ratioReturn per unit of downside risk | -2.12 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 2.03 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 3.20 | -0.95 |
| Martin ratioReturn relative to average drawdown | 7.74 | 11.49 | -3.76 |
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Drawdowns
JMUB vs. BSNSX - Drawdown Comparison
The maximum JMUB drawdown since its inception was -12.50%, which is greater than BSNSX's maximum drawdown of -9.77%. Use the drawdown chart below to compare losses from any high point for JMUB and BSNSX.
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Drawdown Indicators
| JMUB | BSNSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.50% | -9.77% | -2.73% |
Max Drawdown (1Y)Largest decline over 1 year | -2.55% | -1.81% | -0.74% |
Max Drawdown (3Y)Largest decline over 3 years | -4.79% | -3.54% | -1.25% |
Max Drawdown (5Y)Largest decline over 5 years | -12.06% | -9.77% | -2.29% |
Current DrawdownCurrent decline from peak | -0.38% | -0.10% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -2.50% | -1.57% | -0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | 0.50% | +0.24% |
Volatility
JMUB vs. BSNSX - Volatility Comparison
JPMorgan Municipal ETF (JMUB) has a higher volatility of 0.69% compared to Baird Strategic Municipal Bond Fund (BSNSX) at 0.43%. This indicates that JMUB's price experiences larger fluctuations and is considered to be riskier than BSNSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMUB | BSNSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.69% | 0.43% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 1.87% | 1.25% | +0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.40% | 1.59% | +0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.33% | 2.67% | +0.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.13% | 3.34% | +0.79% |
JMUB vs. BSNSX - Expense Ratio Comparison
JMUB has a 0.18% expense ratio, which is lower than BSNSX's 0.55% expense ratio.
Dividends
JMUB vs. BSNSX - Dividend Comparison
JMUB's dividend yield for the trailing twelve months is around 3.59%, more than BSNSX's 3.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BSNSX Baird Strategic Municipal Bond Fund | 3.34% | 3.32% | 3.28% | 2.99% | 1.84% | 1.33% | 1.99% | 0.15% | 0.00% |
JMUB JPMorgan Municipal ETF | 3.59% | 3.52% | 3.50% | 3.20% | 2.16% | 1.94% | 2.13% | 3.66% | 0.45% |
Frequently Asked Questions
JMUB and BSNSX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JMUB has higher volatility (0.69%) compared to BSNSX (0.43%). In terms of maximum drawdown, JMUB dropped -12.50% vs BSNSX's -9.77%.
BSNSX currently has the higher Sharpe Ratio (3.64 vs 2.40), 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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