JMUB vs. VTES
Compare and contrast key facts about JPMorgan Municipal ETF (JMUB) and Vanguard Short-Term Tax-Exempt Bond ETF Shares (VTES).
JMUB and VTES are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JMUB is an actively managed fund by JPMorgan. It was launched on Oct 29, 2018. VTES is a passively managed fund by Vanguard that tracks the performance of the S&P 0-7 Yr National AMT-Free Municipal Bond Index - Benchmark TR Gross. It was launched on Mar 8, 2023.
Performance
JMUB vs. VTES - Performance Comparison
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JMUB vs. VTES - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JMUB JPMorgan Municipal ETF | -0.44% | 4.34% | 1.88% | 5.21% |
VTES Vanguard Short-Term Tax-Exempt Bond ETF Shares | 0.02% | 4.19% | 1.85% | 3.32% |
Returns By Period
In the year-to-date period, JMUB achieves a -0.44% return, which is significantly lower than VTES's 0.02% return.
JMUB
- 1D
- 0.08%
- 1M
- -2.26%
- YTD
- -0.44%
- 6M
- 0.84%
- 1Y
- 3.63%
- 3Y*
- 3.07%
- 5Y*
- 1.18%
- 10Y*
- —
VTES
- 1D
- 0.11%
- 1M
- -1.24%
- YTD
- 0.02%
- 6M
- 0.60%
- 1Y
- 3.45%
- 3Y*
- 2.61%
- 5Y*
- —
- 10Y*
- —
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JMUB vs. VTES - Expense Ratio Comparison
JMUB has a 0.18% expense ratio, which is higher than VTES's 0.07% 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%.
Return for Risk
JMUB vs. VTES — Risk / Return Rank
JMUB
VTES
JMUB vs. VTES - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Municipal ETF (JMUB) and Vanguard Short-Term Tax-Exempt Bond ETF Shares (VTES). 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 | VTES | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.07 | 1.91 | -0.83 |
Sortino ratioReturn per unit of downside risk | 1.37 | 2.43 | -1.06 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.49 | -0.25 |
Calmar ratioReturn relative to maximum drawdown | 1.11 | 2.30 | -1.19 |
Martin ratioReturn relative to average drawdown | 4.20 | 7.44 | -3.24 |
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 | VTES | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | 1.91 | -0.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 1.76 | -1.07 |
Correlation
The correlation between JMUB and VTES is 0.76, 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. VTES - Dividend Comparison
JMUB's dividend yield for the trailing twelve months is around 3.60%, more than VTES's 2.77% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
JMUB JPMorgan Municipal ETF | 3.60% | 3.52% | 3.50% | 3.20% | 2.16% | 1.94% | 2.13% | 3.66% | 0.45% |
VTES Vanguard Short-Term Tax-Exempt Bond ETF Shares | 2.77% | 2.77% | 2.99% | 2.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
JMUB vs. VTES - Drawdown Comparison
The maximum JMUB drawdown since its inception was -12.50%, which is greater than VTES's maximum drawdown of -2.42%. Use the drawdown chart below to compare losses from any high point for JMUB and VTES.
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Drawdown Indicators
| JMUB | VTES | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.50% | -2.42% | -10.08% |
Max Drawdown (1Y)Largest decline over 1 year | -3.47% | -1.59% | -1.88% |
Max Drawdown (5Y)Largest decline over 5 years | -12.06% | — | — |
Current DrawdownCurrent decline from peak | -2.26% | -1.24% | -1.02% |
Average DrawdownAverage peak-to-trough decline | -2.54% | -0.48% | -2.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.49% | +0.43% |
Volatility
JMUB vs. VTES - Volatility Comparison
JPMorgan Municipal ETF (JMUB) has a higher volatility of 1.23% compared to Vanguard Short-Term Tax-Exempt Bond ETF Shares (VTES) at 0.69%. This indicates that JMUB's price experiences larger fluctuations and is considered to be riskier than VTES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMUB | VTES | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 0.69% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 1.64% | 0.96% | +0.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.41% | 1.83% | +1.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.30% | 1.75% | +1.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.17% | 1.75% | +2.42% |