TFI vs. JMUB
TFI (SPDR Nuveen Bloomberg Barclays Municipal Bond ETF) and JMUB (JPMorgan Municipal ETF) are both Municipal Bonds funds. TFI is passively managed, while JMUB is actively managed. Over the past 5 years, TFI returned -0.07%/yr vs 1.23%/yr for JMUB. A 0.75 correlation means they provide meaningful diversification when combined. TFI charges 0.23%/yr vs 0.18%/yr for JMUB.
Performance
TFI vs. JMUB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TFI achieves a 1.19% return, which is significantly lower than JMUB's 1.26% return.
TFI
- 1D
- -0.02%
- 1M
- 0.63%
- YTD
- 1.19%
- 6M
- 1.64%
- 1Y
- 6.67%
- 3Y*
- 2.99%
- 5Y*
- -0.07%
- 10Y*
- 1.51%
JMUB
- 1D
- -0.06%
- 1M
- 0.56%
- YTD
- 1.26%
- 6M
- 1.53%
- 1Y
- 6.12%
- 3Y*
- 3.91%
- 5Y*
- 1.23%
- 10Y*
- —
TFI vs. JMUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TFI SPDR Nuveen Bloomberg Barclays Municipal Bond ETF | 1.19% | 3.62% | -0.01% | 5.62% | -10.17% | 0.25% | 5.82% | 7.41% | 2.98% |
JMUB JPMorgan Municipal ETF | 1.26% | 4.34% | 1.88% | 5.96% | -7.43% | 1.58% | 4.98% | 8.37% | 2.81% |
Correlation
The correlation between TFI and JMUB is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2018 | 0.75 |
The correlation between TFI and JMUB shifts across timeframes, from 0.75 (all time) to 0.89 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TFI vs. JMUB — Risk / Return Rank
TFI
JMUB
TFI vs. JMUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Nuveen Bloomberg Barclays Municipal Bond ETF (TFI) and JPMorgan Municipal ETF (JMUB). 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.
| TFI | JMUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.57 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | 2.40 | 0.00 |
| Martin ratioReturn relative to average drawdown | 7.91 | 8.37 | -0.46 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| TFI | JMUB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.38 | 2.56 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.02 | 0.37 | -0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.74 | -0.22 |
Drawdowns
TFI vs. JMUB - Drawdown Comparison
The maximum TFI drawdown since its inception was -15.49%, which is greater than JMUB's maximum drawdown of -12.50%. Use the drawdown chart below to compare losses from any high point for TFI and JMUB.
Loading charts...
Drawdown Indicators
| TFI | JMUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.49% | -12.50% | -2.99% |
Max Drawdown (1Y)Largest decline over 1 year | -2.79% | -2.55% | -0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -6.81% | -4.79% | -2.02% |
Max Drawdown (5Y)Largest decline over 5 years | -15.41% | -12.06% | -3.35% |
Max Drawdown (10Y)Largest decline over 10 years | -15.49% | — | — |
Current DrawdownCurrent decline from peak | -1.21% | -0.59% | -0.62% |
Average DrawdownAverage peak-to-trough decline | -2.97% | -2.51% | -0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 0.73% | +0.12% |
Volatility
TFI vs. JMUB - Volatility Comparison
SPDR Nuveen Bloomberg Barclays Municipal Bond ETF (TFI) and JPMorgan Municipal ETF (JMUB) have volatilities of 0.90% and 0.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TFI | JMUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 0.86% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.10% | 1.83% | +0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.82% | 2.40% | +0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.31% | 3.33% | +0.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.00% | 4.14% | +0.86% |
TFI vs. JMUB - Expense Ratio Comparison
TFI has a 0.23% expense ratio, which is higher than JMUB'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%.
Dividends
TFI vs. JMUB - Dividend Comparison
TFI's dividend yield for the trailing twelve months is around 3.48%, less than JMUB's 3.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JMUB JPMorgan Municipal ETF | 3.60% | 3.52% | 3.50% | 3.20% | 2.16% | 1.94% | 2.13% | 3.66% | 0.45% | 0.00% | 0.00% | 0.00% |
TFI SPDR Nuveen Bloomberg Barclays Municipal Bond ETF | 3.48% | 3.32% | 3.01% | 2.41% | 1.87% | 1.71% | 1.91% | 2.14% | 2.26% | 2.16% | 2.39% | 2.40% |
Frequently Asked Questions
TFI and JMUB have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TFI has higher volatility (0.90%) compared to JMUB (0.86%). In terms of maximum drawdown, TFI dropped -15.49% vs JMUB's -12.50%.
On 5-year performance, JMUB leads with 1.23% vs -0.07% for TFI. On fees, JMUB is cheaper at 0.18% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JMUB has performed better with a 1.23% return vs -0.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JMUB is cheaper with a 0.18% expense ratio, compared with 0.23% for TFI.
JMUB has the higher dividend yield at 3.60%, compared with 3.48% for TFI.
They also come from different issuers: State Street and JPMorgan. Their fees differ too: 0.23% for TFI and 0.18% for JMUB.
JMUB currently has the higher Sharpe Ratio (2.56 vs 2.38), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for TFI and JMUB
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer