JMUB vs. PFMIX

Last updated Apr 2, 2026

Compare and contrast key facts about JPMorgan Municipal ETF (JMUB) and PIMCO Municipal Bond Fund (PFMIX).

JMUB is an actively managed fund by JPMorgan. It was launched on Oct 29, 2018. PFMIX is managed by PIMCO. It was launched on Dec 30, 1997.

Performance

JMUB vs. PFMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Municipal ETF (JMUB) and PIMCO Municipal Bond Fund (PFMIX). The values are adjusted to include any dividend payments, if applicable.

JMUB vs. PFMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
JMUB JPMorgan Municipal ETF	-0.10%	4.34%	1.88%	5.96%	-7.43%	1.58%	4.98%	8.37%	2.81%
PFMIX PIMCO Municipal Bond Fund	-0.09%	5.70%	3.60%	8.04%	-11.32%	2.55%	5.89%	8.67%	1.48%

Returns By Period

In the year-to-date period, JMUB achieves a -0.10% return, which is significantly lower than PFMIX's -0.09% return.

JMUB

• 1D: 0.34%
• 1M: -1.69%
• YTD: -0.10%
• 6M: 1.16%
• 1Y: 3.66%
• 3Y*: 3.19%
• 5Y*: 1.25%
• 10Y*: —

PFMIX

• 1D: 0.32%
• 1M: -1.99%
• YTD: -0.09%
• 6M: 1.26%
• 1Y: 4.35%
• 3Y*: 4.83%
• 5Y*: 1.49%
• 10Y*: 2.89%

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

JMUB vs. PFMIX - Expense Ratio Comparison

JMUB has a 0.18% expense ratio, which is lower than PFMIX's 0.44% expense ratio.

PFMIX

PIMCO Municipal Bond Fund

JMUB

JPMorgan Municipal ETF

Return for Risk

JMUB vs. PFMIX — Risk / Return Rank

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

JMUB

JMUB Risk / Return Rank: 52
JMUB Sharpe Ratio Rank: 58
JMUB Sortino Ratio Rank: 49
JMUB Omega Ratio Rank: 65
JMUB Calmar Ratio Rank: 42
JMUB Martin Ratio Rank: 43

PFMIX

PFMIX Risk / Return Rank: 47
PFMIX Sharpe Ratio Rank: 46
PFMIX Sortino Ratio Rank: 40
PFMIX Omega Ratio Rank: 65
PFMIX Calmar Ratio Rank: 46
PFMIX Martin Ratio Rank: 36

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.

JMUB vs. PFMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Municipal ETF (JMUB) and PIMCO Municipal Bond Fund (PFMIX). 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.

	JMUB	PFMIX	Difference
Sharpe ratio Return per unit of total volatility	1.08	0.98	+0.10
Sortino ratio Return per unit of downside risk	1.38	1.34	+0.04
Omega ratio Gain probability vs. loss probability	1.25	1.26	-0.02
Calmar ratio Return relative to maximum drawdown	1.15	1.26	-0.11
Martin ratio Return relative to average drawdown	4.30	4.09	+0.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JMUB vs. PFMIX - Sharpe Ratio Comparison

The current JMUB Sharpe Ratio is 1.08, which is comparable to the PFMIX Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of JMUB and PFMIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	JMUB	PFMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.08	0.98	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.36	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.72	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.99	-0.29

Correlation

The correlation between JMUB and PFMIX is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

JMUB vs. PFMIX - Dividend Comparison

JMUB's dividend yield for the trailing twelve months is around 3.60%, less than PFMIX's 4.01% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JMUB JPMorgan Municipal ETF	3.60%	3.52%	3.50%	3.20%	2.16%	1.94%	2.13%	3.66%	0.45%	0.00%	0.00%	0.00%
PFMIX PIMCO Municipal Bond Fund	4.01%	5.15%	4.73%	3.44%	2.25%	2.13%	2.45%	3.51%	3.77%	3.45%	3.44%	3.49%

Drawdowns

JMUB vs. PFMIX - Drawdown Comparison

The maximum JMUB drawdown since its inception was -12.50%, smaller than the maximum PFMIX drawdown of -26.51%. Use the drawdown chart below to compare losses from any high point for JMUB and PFMIX.

Drawdown Indicators

	JMUB	PFMIX	Difference
Max Drawdown Largest peak-to-trough decline	-12.50%	-26.51%	+14.01%
Max Drawdown (1Y) Largest decline over 1 year	-3.47%	-4.67%	+1.20%
Max Drawdown (5Y) Largest decline over 5 years	-12.06%	-16.11%	+4.05%
Max Drawdown (10Y) Largest decline over 10 years	—	-16.11%	—
Current Drawdown Current decline from peak	-1.93%	-2.30%	+0.37%
Average Drawdown Average peak-to-trough decline	-2.54%	-2.43%	-0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	1.44%	-0.51%

Volatility

JMUB vs. PFMIX - Volatility Comparison

JPMorgan Municipal ETF (JMUB) has a higher volatility of 1.23% compared to PIMCO Municipal Bond Fund (PFMIX) at 1.07%. This indicates that JMUB's price experiences larger fluctuations and is considered to be riskier than PFMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMUB	PFMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	1.07%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	1.67%	1.78%	-0.11%
Volatility (1Y) Calculated over the trailing 1-year period	3.41%	4.89%	-1.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.30%	4.12%	-0.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.17%	4.00%	+0.17%