MUB vs. JMUB
MUB (iShares National AMT-Free Muni Bond ETF) and JMUB (JPMorgan Municipal ETF) are both Municipal Bonds funds. MUB is passively managed, while JMUB is actively managed. Over the past 5 years, MUB returned 0.88%/yr vs 1.23%/yr for JMUB. A 0.75 correlation means they provide meaningful diversification when combined. MUB charges 0.07%/yr vs 0.18%/yr for JMUB.
Performance
MUB vs. JMUB - Performance Comparison
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Returns By Period
In the year-to-date period, MUB achieves a 1.54% return, which is significantly higher than JMUB's 1.46% return.
MUB
- 1D
- 0.33%
- 1M
- 1.44%
- YTD
- 1.54%
- 6M
- 1.92%
- 1Y
- 6.59%
- 3Y*
- 3.28%
- 5Y*
- 0.88%
- 10Y*
- 1.95%
JMUB
- 1D
- 0.26%
- 1M
- 1.37%
- YTD
- 1.46%
- 6M
- 1.66%
- 1Y
- 5.70%
- 3Y*
- 3.77%
- 5Y*
- 1.23%
- 10Y*
- —
MUB vs. JMUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MUB iShares National AMT-Free Muni Bond ETF | 1.54% | 3.78% | 1.26% | 5.56% | -7.34% | 1.02% | 5.12% | 7.06% | 2.30% |
JMUB JPMorgan Municipal ETF | 1.46% | 4.34% | 1.88% | 5.96% | -7.43% | 1.58% | 4.98% | 8.37% | 2.95% |
Correlation
The correlation between MUB and JMUB is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2018 | 0.75 |
The correlation between MUB and JMUB shifts across timeframes, from 0.75 (all time) to 0.89 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MUB vs. JMUB — Risk / Return Rank
MUB
JMUB
MUB vs. JMUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares National AMT-Free Muni Bond ETF (MUB) 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.
| MUB | JMUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.53 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.37 | 2.28 | +0.09 |
| Martin ratioReturn relative to average drawdown | 8.25 | 7.83 | +0.43 |
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Drawdowns
MUB vs. JMUB - Drawdown Comparison
The maximum MUB drawdown since its inception was -13.68%, which is greater than JMUB's maximum drawdown of -12.50%. Use the drawdown chart below to compare losses from any high point for MUB and JMUB.
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Drawdown Indicators
| MUB | JMUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.68% | -12.50% | -1.18% |
Max Drawdown (1Y)Largest decline over 1 year | -2.79% | -2.55% | -0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -5.34% | -4.79% | -0.55% |
Max Drawdown (5Y)Largest decline over 5 years | -11.88% | -12.06% | +0.18% |
Max Drawdown (10Y)Largest decline over 10 years | -13.68% | — | — |
Current DrawdownCurrent decline from peak | -0.40% | -0.40% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.23% | -2.50% | +0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 0.74% | +0.06% |
Volatility
MUB vs. JMUB - Volatility Comparison
iShares National AMT-Free Muni Bond ETF (MUB) has a higher volatility of 0.78% compared to JPMorgan Municipal ETF (JMUB) at 0.69%. This indicates that MUB'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.
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Volatility by Period
| MUB | JMUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 0.69% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.27% | 1.87% | +0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.88% | 2.39% | +0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.07% | 3.33% | +0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.92% | 4.13% | +0.79% |
MUB vs. JMUB - Expense Ratio Comparison
MUB has a 0.07% expense ratio, which is lower than JMUB's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
MUB vs. JMUB - Dividend Comparison
MUB's dividend yield for the trailing twelve months is around 3.17%, less than JMUB's 3.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JMUB JPMorgan Municipal ETF | 3.59% | 3.52% | 3.50% | 3.20% | 2.16% | 1.94% | 2.13% | 3.66% | 0.45% | 0.00% | 0.00% | 0.00% |
MUB iShares National AMT-Free Muni Bond ETF | 3.17% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
Frequently Asked Questions
MUB and JMUB have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MUB has higher volatility (0.78%) compared to JMUB (0.69%). In terms of maximum drawdown, MUB dropped -13.68% vs JMUB's -12.50%.
On 5-year performance, JMUB leads with 1.23% vs 0.88% for MUB. On fees, MUB is cheaper at 0.07% 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 1.23% return vs 0.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MUB is cheaper with a 0.07% expense ratio, compared with 0.18% for JMUB.
JMUB has the higher dividend yield at 3.59%, compared with 3.17% for MUB.
They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.07% for MUB and 0.18% for JMUB.
JMUB currently has the higher Sharpe Ratio (2.43 vs 2.29), 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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