JMUB vs. VTEB
JMUB (JPMorgan Municipal ETF) and VTEB (Vanguard Tax-Exempt Bond ETF) are both Municipal Bonds funds. JMUB is actively managed, while VTEB is passively managed. Over the past 5 years, JMUB returned 1.26%/yr vs 0.93%/yr for VTEB. A 0.76 correlation means they provide meaningful diversification when combined. JMUB charges 0.18%/yr vs 0.05%/yr for VTEB.
Performance
JMUB vs. VTEB - Performance Comparison
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Returns By Period
In the year-to-date period, JMUB achieves a 1.32% return, which is significantly lower than VTEB's 1.52% return.
JMUB
- 1D
- 0.14%
- 1M
- 0.58%
- YTD
- 1.32%
- 6M
- 1.63%
- 1Y
- 6.22%
- 3Y*
- 3.94%
- 5Y*
- 1.26%
- 10Y*
- —
VTEB
- 1D
- 0.10%
- 1M
- 0.61%
- YTD
- 1.52%
- 6M
- 1.95%
- 1Y
- 7.14%
- 3Y*
- 3.59%
- 5Y*
- 0.93%
- 10Y*
- 2.10%
JMUB vs. VTEB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
JMUB JPMorgan Municipal ETF | 1.32% | 4.34% | 1.88% | 5.96% | -7.43% | 1.58% | 4.98% | 8.37% | 2.81% |
VTEB Vanguard Tax-Exempt Bond ETF | 1.52% | 3.72% | 1.31% | 6.15% | -7.99% | 1.14% | 5.19% | 7.35% | 2.40% |
Correlation
The correlation between JMUB and VTEB is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2018 | 0.76 |
The correlation between JMUB and VTEB shifts across timeframes, from 0.76 (all time) to 0.89 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
JMUB vs. VTEB — Risk / Return Rank
JMUB
VTEB
JMUB vs. VTEB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Municipal ETF (JMUB) and Vanguard Tax-Exempt Bond ETF (VTEB). 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 | VTEB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.61 | 2.64 | -0.04 |
Sortino ratioReturn per unit of downside risk | 3.74 | 3.92 | -0.18 |
Omega ratioGain probability vs. loss probability | 1.58 | 1.58 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 2.35 | 2.58 | -0.23 |
Martin ratioReturn relative to average drawdown | 8.21 | 9.21 | -1.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JMUB | VTEB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.61 | 2.64 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | 0.24 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.40 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 0.48 | +0.26 |
Drawdowns
JMUB vs. VTEB - Drawdown Comparison
The maximum JMUB drawdown since its inception was -12.50%, smaller than the maximum VTEB drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for JMUB and VTEB.
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Drawdown Indicators
| JMUB | VTEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.50% | -17.00% | +4.50% |
Max Drawdown (1Y)Largest decline over 1 year | -2.55% | -2.71% | +0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -4.79% | -5.53% | +0.74% |
Max Drawdown (5Y)Largest decline over 5 years | -12.06% | -12.64% | +0.58% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.00% | — |
Current DrawdownCurrent decline from peak | -0.53% | -0.46% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -2.51% | -2.33% | -0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.76% | -0.03% |
Volatility
JMUB vs. VTEB - Volatility Comparison
JPMorgan Municipal ETF (JMUB) and Vanguard Tax-Exempt Bond ETF (VTEB) have volatilities of 0.86% and 0.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMUB | VTEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.86% | 0.90% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.84% | 2.03% | -0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.41% | 2.72% | -0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.33% | 3.90% | -0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.14% | 5.26% | -1.12% |
JMUB vs. VTEB - Expense Ratio Comparison
JMUB has a 0.18% expense ratio, which is higher than VTEB's 0.05% 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. VTEB - Dividend Comparison
JMUB's dividend yield for the trailing twelve months is around 3.60%, more than VTEB's 3.35% yield.
| Position | 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% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.35% | 3.29% | 3.14% | 2.79% | 2.09% | 1.64% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% |
Frequently Asked Questions
JMUB and VTEB have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTEB has higher volatility (0.90%) compared to JMUB (0.86%). In terms of maximum drawdown, JMUB dropped -12.50% vs VTEB's -17.00%.
On 5-year performance, JMUB leads with 1.26% vs 0.93% for VTEB. On fees, VTEB is cheaper at 0.05% 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 0.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTEB is cheaper with a 0.05% expense ratio, compared with 0.18% for JMUB.
JMUB has the higher dividend yield at 3.60%, compared with 3.35% for VTEB.
They also come from different issuers: JPMorgan and Vanguard. Their fees differ too: 0.18% for JMUB and 0.05% for VTEB.
VTEB currently has the higher Sharpe Ratio (2.64 vs 2.61), 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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