MUST vs. JPST
Compare and contrast key facts about Columbia Multi-Sector Municipal Income ETF (MUST) and JPMorgan Ultra-Short Income ETF (JPST).
MUST and JPST are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MUST is a passively managed fund by Ameriprise Financial that tracks the performance of the Bloomberg Beta Advantage Multi-Sector Municipal Bond Index. It was launched on Oct 10, 2018. JPST is an actively managed fund by JPMorgan. It was launched on May 17, 2017.
Performance
MUST vs. JPST - Performance Comparison
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MUST vs. JPST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MUST Columbia Multi-Sector Municipal Income ETF | 0.02% | 4.92% | 0.37% | 6.23% | -8.82% | 1.93% | 6.67% | 8.35% | 2.72% |
JPST JPMorgan Ultra-Short Income ETF | 0.71% | 4.99% | 5.58% | 5.13% | 1.14% | 0.11% | 2.18% | 3.34% | 0.47% |
Returns By Period
In the year-to-date period, MUST achieves a 0.02% return, which is significantly lower than JPST's 0.71% return.
MUST
- 1D
- 0.34%
- 1M
- -2.40%
- YTD
- 0.02%
- 6M
- 1.52%
- 1Y
- 5.29%
- 3Y*
- 2.90%
- 5Y*
- 0.78%
- 10Y*
- —
JPST
- 1D
- 0.08%
- 1M
- 0.03%
- YTD
- 0.71%
- 6M
- 1.89%
- 1Y
- 4.41%
- 3Y*
- 5.12%
- 5Y*
- 3.50%
- 10Y*
- —
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MUST vs. JPST - Expense Ratio Comparison
MUST has a 0.23% expense ratio, which is higher than JPST's 0.18% 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
MUST vs. JPST — Risk / Return Rank
MUST
JPST
MUST vs. JPST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia Multi-Sector Municipal Income ETF (MUST) and JPMorgan Ultra-Short Income ETF (JPST). 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 | JPST | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.81 | 7.27 | -6.46 |
Sortino ratioReturn per unit of downside risk | 1.10 | 13.92 | -12.82 |
Omega ratioGain probability vs. loss probability | 1.16 | 3.41 | -2.25 |
Calmar ratioReturn relative to maximum drawdown | 1.17 | 14.93 | -13.76 |
Martin ratioReturn relative to average drawdown | 4.26 | 94.51 | -90.26 |
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 | JPST | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.81 | 7.27 | -6.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 6.16 | -6.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 3.16 | -2.65 |
Correlation
The correlation between MUST and JPST is 0.23, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
MUST vs. JPST - Dividend Comparison
MUST's dividend yield for the trailing twelve months is around 3.29%, less than JPST's 4.36% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MUST Columbia Multi-Sector Municipal Income ETF | 3.29% | 3.28% | 3.13% | 2.51% | 1.76% | 1.62% | 2.33% | 2.70% | 0.55% | 0.00% |
JPST JPMorgan Ultra-Short Income ETF | 4.36% | 4.43% | 5.16% | 4.79% | 1.83% | 0.73% | 1.43% | 2.69% | 2.07% | 0.96% |
Drawdowns
MUST vs. JPST - Drawdown Comparison
The maximum MUST drawdown since its inception was -13.83%, which is greater than JPST's maximum drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for MUST and JPST.
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Drawdown Indicators
| MUST | JPST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.83% | -3.28% | -10.55% |
Max Drawdown (1Y)Largest decline over 1 year | -4.56% | -0.30% | -4.26% |
Max Drawdown (5Y)Largest decline over 5 years | -13.83% | -0.79% | -13.04% |
Current DrawdownCurrent decline from peak | -2.49% | 0.00% | -2.49% |
Average DrawdownAverage peak-to-trough decline | -3.44% | -0.08% | -3.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 0.05% | +1.20% |
Volatility
MUST vs. JPST - Volatility Comparison
Columbia Multi-Sector Municipal Income ETF (MUST) has a higher volatility of 1.84% compared to JPMorgan Ultra-Short Income ETF (JPST) at 0.22%. This indicates that MUST's price experiences larger fluctuations and is considered to be riskier than JPST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUST | JPST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.84% | 0.22% | +1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 3.43% | 0.35% | +3.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.60% | 0.61% | +5.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.38% | 0.57% | +4.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.60% | 0.94% | +4.66% |