MUST vs. JMMF
MUST (Columbia Multi-Sector Municipal Income ETF) and JMMF (JPMorgan 100% U.S. Treasury Securities Money Market ETF) are both Money Market funds. MUST is passively managed, while JMMF is actively managed. At a correlation of -0.00, they often move in opposite directions. MUST charges 0.23%/yr vs 0.16%/yr for JMMF.
Performance
MUST vs. JMMF - Performance Comparison
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Returns By Period
In the year-to-date period, MUST achieves a 1.60% return, which is significantly higher than JMMF's 1.43% return.
MUST
- 1D
- 0.15%
- 1M
- 1.08%
- YTD
- 1.60%
- 6M
- 1.55%
- 1Y
- 7.14%
- 3Y*
- 3.82%
- 5Y*
- 0.87%
- 10Y*
- —
JMMF
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.43%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MUST vs. JMMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MUST Columbia Multi-Sector Municipal Income ETF | 1.60% | -0.00% |
JMMF JPMorgan 100% U.S. Treasury Securities Money Market ETF | 1.43% | 0.17% |
Correlation
The correlation between MUST and JMMF is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 12, 2025 | -0.00 |
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Return for Risk
MUST vs. JMMF — Risk / Return Rank
MUST
JMMF
MUST vs. JMMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia Multi-Sector Municipal Income ETF (MUST) and JPMorgan 100% U.S. Treasury Securities Money Market ETF (JMMF). 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.
| MUST | JMMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.26 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | — | — |
| Martin ratioReturn relative to average drawdown | 6.52 | — | — |
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
| MUST | JMMF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.39 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 6.43 | -5.89 |
Drawdowns
MUST vs. JMMF - Drawdown Comparison
The maximum MUST drawdown since its inception was -13.83%, which is greater than JMMF's maximum drawdown of -0.14%. Use the drawdown chart below to compare losses from any high point for MUST and JMMF.
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Drawdown Indicators
| MUST | JMMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.83% | -0.14% | -13.69% |
Max Drawdown (1Y)Largest decline over 1 year | -3.01% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -6.08% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -13.83% | — | — |
Current DrawdownCurrent decline from peak | -0.94% | 0.00% | -0.94% |
Average DrawdownAverage peak-to-trough decline | -3.41% | -0.01% | -3.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | — | — |
Volatility
MUST vs. JMMF - Volatility Comparison
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Volatility by Period
| MUST | JMMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.80% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.60% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.17% | 0.54% | +4.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.44% | 0.54% | +4.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.59% | 0.54% | +5.05% |
MUST vs. JMMF - Expense Ratio Comparison
MUST has a 0.23% expense ratio, which is higher than JMMF's 0.16% 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
MUST vs. JMMF - Dividend Comparison
MUST's dividend yield for the trailing twelve months is around 3.32%, more than JMMF's 1.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
JMMF JPMorgan 100% U.S. Treasury Securities Money Market ETF | 1.59% | 0.20% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MUST Columbia Multi-Sector Municipal Income ETF | 3.32% | 3.28% | 3.13% | 2.51% | 1.76% | 1.62% | 2.33% | 2.70% | 0.55% |
Frequently Asked Questions
MUST and JMMF have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JMMF is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JMMF is cheaper with a 0.16% expense ratio, compared with 0.23% for MUST.
MUST has the higher dividend yield at 3.32%, compared with 1.59% for JMMF.
They also come from different issuers: Ameriprise Financial and JPMorgan. Their fees differ too: 0.23% for MUST and 0.16% for JMMF.
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