JMUB vs. SHYM
JMUB (JPMorgan Municipal ETF) and SHYM (iShares Short Duration High Yield Muni Active ETF) are both exchange-traded funds - JMUB is a Municipal Bonds fund actively managed by JPMorgan, while SHYM is a High Yield Muni fund actively managed by iShares. Both are actively managed. Over the past 5 years, JMUB returned 1.26%/yr vs 1.02%/yr for SHYM. A 0.67 correlation means they provide meaningful diversification when combined. JMUB charges 0.18%/yr vs 0.35%/yr for SHYM.
Performance
JMUB vs. SHYM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, JMUB achieves a 1.42% return, which is significantly lower than SHYM's 2.06% return.
JMUB
- 1D
- 0.16%
- 1M
- 0.68%
- YTD
- 1.42%
- 6M
- 1.66%
- 1Y
- 6.09%
- 3Y*
- 3.88%
- 5Y*
- 1.26%
- 10Y*
- —
SHYM
- 1D
- 0.13%
- 1M
- 0.89%
- YTD
- 2.06%
- 6M
- 2.47%
- 1Y
- 4.95%
- 3Y*
- 5.82%
- 5Y*
- 1.02%
- 10Y*
- —
JMUB vs. SHYM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JMUB JPMorgan Municipal ETF | 1.42% | 4.34% | 1.88% | 5.96% | -7.43% | 2.38% |
SHYM iShares Short Duration High Yield Muni Active ETF | 2.06% | 2.58% | 6.99% | 9.67% | -15.96% | 6.71% |
Correlation
The correlation between JMUB and SHYM is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2021 | 0.67 |
The correlation between JMUB and SHYM has been stable across timeframes, ranging from 0.61 to 0.68 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
JMUB vs. SHYM — Risk / Return Rank
JMUB
SHYM
JMUB vs. SHYM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Municipal ETF (JMUB) and iShares Short Duration High Yield Muni Active ETF (SHYM). 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 | SHYM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.34 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 2.22 | +0.17 |
| Martin ratioReturn relative to average drawdown | 8.33 | 7.50 | +0.83 |
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 charts...
Sharpe Ratios by Period
| JMUB | SHYM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.55 | 1.67 | +0.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | 0.14 | +0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 0.27 | +0.47 |
Drawdowns
JMUB vs. SHYM - Drawdown Comparison
The maximum JMUB drawdown since its inception was -12.50%, smaller than the maximum SHYM drawdown of -22.55%. Use the drawdown chart below to compare losses from any high point for JMUB and SHYM.
Loading charts...
Drawdown Indicators
| JMUB | SHYM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.50% | -22.55% | +10.05% |
Max Drawdown (1Y)Largest decline over 1 year | -2.55% | -2.23% | -0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -4.79% | -8.06% | +3.27% |
Max Drawdown (5Y)Largest decline over 5 years | -12.06% | -22.55% | +10.49% |
Current DrawdownCurrent decline from peak | -0.44% | 0.00% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -2.51% | -6.76% | +4.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.66% | +0.07% |
Volatility
JMUB vs. SHYM - Volatility Comparison
JPMorgan Municipal ETF (JMUB) has a higher volatility of 0.87% compared to iShares Short Duration High Yield Muni Active ETF (SHYM) at 0.77%. This indicates that JMUB's price experiences larger fluctuations and is considered to be riskier than SHYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| JMUB | SHYM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 0.77% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 1.83% | 1.81% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.40% | 2.99% | -0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.33% | 7.07% | -3.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.14% | 6.94% | -2.80% |
JMUB vs. SHYM - Expense Ratio Comparison
JMUB has a 0.18% expense ratio, which is lower than SHYM's 0.35% expense ratio.
Dividends
JMUB vs. SHYM - Dividend Comparison
JMUB's dividend yield for the trailing twelve months is around 3.59%, less than SHYM's 4.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
JMUB JPMorgan Municipal ETF | 3.59% | 3.52% | 3.50% | 3.20% | 2.16% | 1.94% | 2.13% | 3.66% | 0.45% |
SHYM iShares Short Duration High Yield Muni Active ETF | 4.30% | 4.55% | 4.35% | 4.35% | 4.01% | 2.97% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JMUB and SHYM have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JMUB has higher volatility (0.87%) compared to SHYM (0.77%). In terms of maximum drawdown, JMUB dropped -12.50% vs SHYM's -22.55%.
On 5-year performance, JMUB leads with 1.26% vs 1.02% for SHYM. On fees, JMUB is cheaper at 0.18% per year. Their volatility is very similar. 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 1.26% return vs 1.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JMUB is cheaper with a 0.18% expense ratio, compared with 0.35% for SHYM.
SHYM has the higher dividend yield at 4.30%, compared with 3.59% for JMUB.
JMUB is categorized as Municipal Bonds, while SHYM is High Yield Muni. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.18% for JMUB and 0.35% for SHYM.
JMUB currently has the higher Sharpe Ratio (2.55 vs 1.67), 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.
Find the right allocation for JMUB and SHYM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer