SUB vs. JMST
Compare and contrast key facts about iShares Short-Term National Muni Bond ETF (SUB) and JPMorgan Ultra-Short Municipal Income ETF (JMST).
SUB and JMST are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SUB is a passively managed fund by iShares that tracks the performance of the ICE Short Maturity AMT-Free US National Municipal Index - Benchmark TR Gross. It was launched on Nov 5, 2008. JMST is an actively managed fund by JPMorgan Chase. It was launched on Oct 16, 2018.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SUB or JMST.
Key characteristics
| SUB | JMST | |
|---|---|---|
| YTD Return | 1.75% | 2.87% |
| 1Y Return | 3.58% | 3.90% |
| 3Y Return (Ann) | 0.89% | 2.19% |
| 5Y Return (Ann) | 1.10% | 1.81% |
| Sharpe Ratio | 2.44 | 5.09 |
| Sortino Ratio | 3.84 | 9.17 |
| Omega Ratio | 1.51 | 2.27 |
| Calmar Ratio | 2.72 | 23.79 |
| Martin Ratio | 11.85 | 103.03 |
| Ulcer Index | 0.31% | 0.04% |
| Daily Std Dev | 1.49% | 0.78% |
| Max Drawdown | -9.46% | -2.41% |
| Current Drawdown | -0.59% | -0.04% |
Correlation
The correlation between SUB and JMST is 0.28, 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.
Performance
SUB vs. JMST - Performance Comparison
In the year-to-date period, SUB achieves a 1.75% return, which is significantly lower than JMST's 2.87% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SUB vs. JMST - Expense Ratio Comparison
SUB has a 0.07% expense ratio, which is lower than JMST'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%.
Risk-Adjusted Performance
SUB vs. JMST - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Short-Term National Muni Bond ETF (SUB) 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.
Dividends
SUB vs. JMST - Dividend Comparison
SUB's dividend yield for the trailing twelve months is around 2.05%, less than JMST's 3.35% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SUB iShares Short-Term National Muni Bond ETF | 2.05% | 1.73% | 0.86% | 0.72% | 1.23% | 1.59% | 1.32% | 0.94% | 0.75% | 0.77% | 0.76% | 0.84% |
JMST JPMorgan Ultra-Short Municipal Income ETF | 3.35% | 3.09% | 1.11% | 0.27% | 0.87% | 1.63% | 0.34% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SUB vs. JMST - Drawdown Comparison
The maximum SUB drawdown since its inception was -9.46%, which is greater than JMST's maximum drawdown of -2.41%. Use the drawdown chart below to compare losses from any high point for SUB and JMST. For additional features, visit the drawdowns tool.
Volatility
SUB vs. JMST - Volatility Comparison
iShares Short-Term National Muni Bond ETF (SUB) has a higher volatility of 0.65% compared to JPMorgan Ultra-Short Municipal Income ETF (JMST) at 0.29%. This indicates that SUB'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.