MMIN vs. JMUB

Last updated Aug 4, 2026

MMIN (IQ MacKay Municipal Insured ETF) and JMUB (JPMorgan Municipal ETF) are both Municipal Bonds funds. MMIN is passively managed, while JMUB is actively managed. Over the past 5 years, MMIN returned 0.28%/yr vs 0.83%/yr for JMUB. Their 0.74 correlation means they have sometimes moved together and sometimes differently. MMIN charges 0.31%/yr vs 0.18%/yr for JMUB.

Performance

MMIN vs. JMUB - Performance Comparison

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

Returns By Period

In the year-to-date period, MMIN achieves a 1.12% return, which is significantly higher than JMUB's 0.40% return.

MMIN

• 1D: 0.08%
• 1M: -1.91%
• 6M: 0.24%
• YTD: 1.12%
• 1Y: 6.82%
• 3Y*: 3.77%
• 5Y*: 0.28%
• 10Y*: —
• ALL TIME*: 2.44%

JMUB

• 1D: 0.12%
• 1M: -1.48%
• 6M: -0.33%
• YTD: 0.40%
• 1Y: 4.16%
• 3Y*: 3.51%
• 5Y*: 0.83%
• 10Y*: —
• ALL TIME*: 2.87%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JMUB JPMorgan Municipal ETF	$51.65M	$61.70M	$50.55M
MMIN IQ MacKay Municipal Insured ETF	$2.27M	$1.99M	$1.87M

MMIN vs. JMUB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MMIN IQ MacKay Municipal Insured ETF	1.12%	4.65%	0.93%	7.45%	-11.20%	1.35%	7.47%	8.08%	2.61%
JMUB JPMorgan Municipal ETF	0.40%	4.34%	1.88%	5.96%	-7.43%	1.58%	4.98%	8.37%	2.95%

Correlation

The correlation between MMIN and JMUB is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.74
Correlation (3Y) Balances recent behavior with more history.	0.82
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (All Time) Calculated using the full available price history since Oct 31, 2018	0.74

The correlation between MMIN and JMUB has been stable across timeframes, ranging from 0.74 to 0.82 - a consistent structural relationship.

Return for Risk

MMIN vs. JMUB — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MMIN

MMIN Risk / Return Rank: 75
MMIN Sharpe Ratio Rank: 79
MMIN Sortino Ratio Rank: 81
MMIN Omega Ratio Rank: 85
MMIN Calmar Ratio Rank: 64
MMIN Martin Ratio Rank: 65

JMUB

JMUB Risk / Return Rank: 62
JMUB Sharpe Ratio Rank: 72
JMUB Sortino Ratio Rank: 69
JMUB Omega Ratio Rank: 80
JMUB Calmar Ratio Rank: 45
JMUB Martin Ratio Rank: 45

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MMIN vs. JMUB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ MacKay Municipal Insured ETF (MMIN) and JPMorgan Municipal ETF (JMUB). 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.

	MMIN	JMUB	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.70	+0.24
Sortino ratio: Return per unit of downside risk	2.78	2.32	+0.46
Omega ratio: Gain probability vs. loss probability	1.39	1.35	+0.04
Calmar ratio: Return relative to maximum drawdown	2.38	1.64	+0.75
Martin ratio: Return relative to average drawdown	8.26	5.28	+2.98

MMIN vs. JMUB - Sharpe Ratio Comparison

The current MMIN Sharpe Ratio is 1.95, which is comparable to the JMUB Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of MMIN and JMUB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MMIN vs. JMUB - Drawdown Comparison

The maximum MMIN drawdown since its inception was -16.87%, which is greater than JMUB's maximum drawdown of -12.50%. Use the drawdown chart below to compare losses from any high point for MMIN and JMUB.

Drawdown Indicators

	MMIN	JMUB	Difference
Max Drawdown Largest peak-to-trough decline	-16.87%	-12.50%	-4.37%
Max Drawdown (1Y) Largest decline over 1 year	-2.87%	-2.55%	-0.32%
Max Drawdown (3Y) Largest decline over 3 years	-5.82%	-4.02%	-1.80%
Max Drawdown (5Y) Largest decline over 5 years	-16.76%	-12.05%	-4.71%
Current Drawdown Current decline from peak	-1.98%	-1.52%	-0.46%
Average Drawdown Average peak-to-trough decline	-4.25%	-2.47%	-1.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	0.79%	+0.04%

Volatility

MMIN vs. JMUB - Volatility Comparison

IQ MacKay Municipal Insured ETF (MMIN) has a higher volatility of 1.17% compared to JPMorgan Municipal ETF (JMUB) at 0.89%. This indicates that MMIN's price experiences larger fluctuations and is considered to be riskier than JMUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MMIN	JMUB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.17%	0.89%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	2.70%	2.05%	+0.65%
Volatility (1Y) Calculated over the trailing 1-year period	3.52%	2.46%	+1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.05%	3.35%	+1.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.92%	4.12%	+2.80%

MMIN vs. JMUB - Expense Ratio Comparison

MMIN has a 0.31% expense ratio, which is higher than JMUB's 0.18% expense ratio.

Dividends

MMIN vs. JMUB - Dividend Comparison

MMIN's dividend yield for the trailing twelve months is around 4.07%, more than JMUB's 3.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JMUB JPMorgan Municipal ETF	3.66%	3.52%	3.50%	3.20%	2.16%	1.94%	2.13%	3.66%	0.45%	0.00%
MMIN IQ MacKay Municipal Insured ETF	4.07%	4.07%	3.96%	3.73%	2.93%	1.72%	2.21%	2.75%	2.78%	0.47%

Frequently Asked Questions

Can I hold both MMIN and JMUB in my portfolio?

MMIN and JMUB have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MMIN or JMUB?

MMIN has higher volatility (1.17%) compared to JMUB (0.89%). In terms of maximum drawdown, MMIN dropped -16.87% vs JMUB's -12.50%.

Which ETF is better, MMIN or JMUB?

On 5-year performance, JMUB leads with 0.83% vs 0.28% for MMIN. On fees, JMUB is cheaper at 0.18% per year. On volatility, JMUB has been the lower-risk option at 0.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MMIN or JMUB?

Over the 5-year period, JMUB has performed better with a 0.83% return vs 0.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MMIN or JMUB?

JMUB is cheaper with a 0.18% expense ratio, compared with 0.31% for MMIN.

Which ETF pays a higher dividend yield, MMIN or JMUB?

MMIN has the higher dividend yield at 4.07%, compared with 3.66% for JMUB.

What is the main difference between MMIN and JMUB?

They also come from different issuers: New York Life and JPMorgan. Their fees differ too: 0.31% for MMIN and 0.18% for JMUB.

Which has better risk-adjusted returns?

MMIN currently has the higher Sharpe Ratio (1.95 vs 1.70), 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.