MYI vs. USMSX
Compare and contrast key facts about BlackRock MuniYield Quality Fund III (MYI) and JPMorgan Ultra-Short Municipal Fund (USMSX).
MYI is an actively managed fund by BlackRock. It was launched on Apr 13, 1992. USMSX is managed by JPMorgan. It was launched on May 31, 2016.
Performance
MYI vs. USMSX - Performance Comparison
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MYI vs. USMSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MYI BlackRock MuniYield Quality Fund III | -1.85% | 4.74% | 0.55% | 8.79% | -20.52% | 6.99% | 11.60% | 16.64% | -8.42% | 6.74% |
USMSX JPMorgan Ultra-Short Municipal Fund | 0.19% | 2.87% | 3.09% | 3.21% | -0.90% | -0.15% | 0.77% | 1.90% | 1.01% | 0.69% |
Returns By Period
In the year-to-date period, MYI achieves a -1.85% return, which is significantly lower than USMSX's 0.19% return.
MYI
- 1D
- 1.15%
- 1M
- -6.10%
- YTD
- -1.85%
- 6M
- -2.23%
- 1Y
- 1.71%
- 3Y*
- 3.22%
- 5Y*
- -0.93%
- 10Y*
- 1.39%
USMSX
- 1D
- 0.00%
- 1M
- -0.30%
- YTD
- 0.19%
- 6M
- 0.82%
- 1Y
- 2.49%
- 3Y*
- 2.80%
- 5Y*
- 1.67%
- 10Y*
- —
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MYI vs. USMSX - Expense Ratio Comparison
MYI has a 2.16% expense ratio, which is higher than USMSX's 0.45% expense ratio.
Return for Risk
MYI vs. USMSX — Risk / Return Rank
MYI
USMSX
MYI vs. USMSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniYield Quality Fund III (MYI) and JPMorgan Ultra-Short Municipal Fund (USMSX). 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.
| MYI | USMSX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.17 | 3.75 | -3.59 |
Sortino ratioReturn per unit of downside risk | 0.29 | 6.76 | -6.47 |
Omega ratioGain probability vs. loss probability | 1.04 | 3.27 | -2.23 |
Calmar ratioReturn relative to maximum drawdown | 0.31 | 6.48 | -6.17 |
Martin ratioReturn relative to average drawdown | 0.85 | 34.69 | -33.84 |
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
| MYI | USMSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.17 | 3.75 | -3.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.09 | 2.39 | -2.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.12 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 1.86 | -1.62 |
Correlation
The correlation between MYI and USMSX is 0.17, 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
MYI vs. USMSX - Dividend Comparison
MYI's dividend yield for the trailing twelve months is around 6.34%, more than USMSX's 2.36% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MYI BlackRock MuniYield Quality Fund III | 6.34% | 6.13% | 6.03% | 4.30% | 5.22% | 4.17% | 3.84% | 3.89% | 5.01% | 5.88% | 6.20% | 6.03% |
USMSX JPMorgan Ultra-Short Municipal Fund | 2.36% | 2.42% | 2.84% | 2.35% | 0.70% | 0.05% | 0.57% | 1.28% | 1.01% | 0.59% | 0.00% | 0.00% |
Drawdowns
MYI vs. USMSX - Drawdown Comparison
The maximum MYI drawdown since its inception was -43.90%, which is greater than USMSX's maximum drawdown of -2.09%. Use the drawdown chart below to compare losses from any high point for MYI and USMSX.
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Drawdown Indicators
| MYI | USMSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.90% | -2.09% | -41.81% |
Max Drawdown (1Y)Largest decline over 1 year | -7.58% | -0.40% | -7.18% |
Max Drawdown (5Y)Largest decline over 5 years | -31.84% | -2.03% | -29.81% |
Max Drawdown (10Y)Largest decline over 10 years | -31.84% | — | — |
Current DrawdownCurrent decline from peak | -11.40% | -0.30% | -11.10% |
Average DrawdownAverage peak-to-trough decline | -9.40% | -0.22% | -9.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 0.07% | +2.72% |
Volatility
MYI vs. USMSX - Volatility Comparison
BlackRock MuniYield Quality Fund III (MYI) has a higher volatility of 3.28% compared to JPMorgan Ultra-Short Municipal Fund (USMSX) at 0.22%. This indicates that MYI's price experiences larger fluctuations and is considered to be riskier than USMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MYI | USMSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.28% | 0.22% | +3.06% |
Volatility (6M)Calculated over the trailing 6-month period | 5.52% | 0.40% | +5.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.34% | 0.69% | +9.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.81% | 0.70% | +10.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.34% | 0.74% | +10.60% |