NYF vs. JMST
Compare and contrast key facts about iShares New York Muni Bond ETF (NYF) and JPMorgan Ultra-Short Municipal Income ETF (JMST).
NYF and JMST are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NYF is a passively managed fund by iShares that tracks the performance of the S&P New York AMT-Free Municipal Bond Index. It was launched on Oct 4, 2007. JMST is an actively managed fund by JPMorgan. It was launched on Oct 16, 2018.
Performance
NYF vs. JMST - Performance Comparison
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NYF vs. JMST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
NYF iShares New York Muni Bond ETF | 0.08% | 3.64% | 1.13% | 5.76% | -7.75% | 1.34% | 4.18% | 6.49% | 2.58% |
JMST JPMorgan Ultra-Short Municipal Income ETF | 0.56% | 3.35% | 3.31% | 3.56% | 0.07% | 0.31% | 2.00% | 2.09% | 0.70% |
Returns By Period
In the year-to-date period, NYF achieves a 0.08% return, which is significantly lower than JMST's 0.56% return.
NYF
- 1D
- 0.30%
- 1M
- -1.77%
- YTD
- 0.08%
- 6M
- 1.30%
- 1Y
- 3.82%
- 3Y*
- 2.67%
- 5Y*
- 0.85%
- 10Y*
- 1.81%
JMST
- 1D
- 0.06%
- 1M
- 0.04%
- YTD
- 0.56%
- 6M
- 1.29%
- 1Y
- 2.81%
- 3Y*
- 3.27%
- 5Y*
- 2.21%
- 10Y*
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NYF vs. JMST - Expense Ratio Comparison
NYF has a 0.25% expense ratio, which is higher than JMST'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
NYF vs. JMST — Risk / Return Rank
NYF
JMST
NYF vs. JMST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares New York Muni Bond ETF (NYF) and JPMorgan Ultra-Short Municipal Income ETF (JMST). 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.
| NYF | JMST | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.96 | 3.76 | -2.80 |
Sortino ratioReturn per unit of downside risk | 1.21 | 5.09 | -3.88 |
Omega ratioGain probability vs. loss probability | 1.22 | 2.13 | -0.91 |
Calmar ratioReturn relative to maximum drawdown | 1.30 | 4.44 | -3.13 |
Martin ratioReturn relative to average drawdown | 3.65 | 23.53 | -19.88 |
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
| NYF | JMST | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.96 | 3.76 | -2.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 2.69 | -2.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 1.87 | -1.41 |
Correlation
The correlation between NYF and JMST is 0.31, 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
NYF vs. JMST - Dividend Comparison
NYF's dividend yield for the trailing twelve months is around 3.08%, more than JMST's 2.72% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NYF iShares New York Muni Bond ETF | 3.08% | 2.99% | 2.77% | 2.36% | 2.04% | 1.85% | 1.98% | 2.19% | 2.48% | 2.46% | 2.43% | 2.60% |
JMST JPMorgan Ultra-Short Municipal Income ETF | 2.72% | 2.84% | 3.32% | 3.09% | 1.10% | 0.27% | 0.87% | 1.63% | 0.28% | 0.00% | 0.00% | 0.00% |
Drawdowns
NYF vs. JMST - Drawdown Comparison
The maximum NYF drawdown since its inception was -13.12%, which is greater than JMST's maximum drawdown of -2.41%. Use the drawdown chart below to compare losses from any high point for NYF and JMST.
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Drawdown Indicators
| NYF | JMST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.12% | -2.41% | -10.71% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -0.53% | -2.81% |
Max Drawdown (5Y)Largest decline over 5 years | -12.71% | -1.15% | -11.56% |
Max Drawdown (10Y)Largest decline over 10 years | -13.12% | — | — |
Current DrawdownCurrent decline from peak | -1.97% | -0.07% | -1.90% |
Average DrawdownAverage peak-to-trough decline | -2.32% | -0.13% | -2.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 0.13% | +1.06% |
Volatility
NYF vs. JMST - Volatility Comparison
iShares New York Muni Bond ETF (NYF) has a higher volatility of 1.41% compared to JPMorgan Ultra-Short Municipal Income ETF (JMST) at 0.19%. This indicates that NYF's price experiences larger fluctuations and is considered to be riskier than JMST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NYF | JMST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 0.19% | +1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 1.90% | 0.47% | +1.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.02% | 0.81% | +3.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.98% | 0.82% | +3.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.48% | 1.15% | +3.33% |