USMTX vs. MUB
Compare and contrast key facts about JPMorgan Ultra-Short Municipal Fund (USMTX) and iShares National AMT-Free Muni Bond ETF (MUB).
USMTX is managed by JPMorgan. It was launched on May 30, 2016. MUB is a passively managed fund by iShares that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Sep 7, 2007.
Performance
USMTX vs. MUB - Performance Comparison
Loading graphics...
USMTX vs. MUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USMTX JPMorgan Ultra-Short Municipal Fund | 0.32% | 2.96% | 3.30% | 3.46% | -0.71% | -0.05% | 1.07% | 2.01% | 1.32% | 0.88% |
MUB iShares National AMT-Free Muni Bond ETF | 0.04% | 3.78% | 1.26% | 5.56% | -7.34% | 1.02% | 5.12% | 7.06% | 0.93% | 4.82% |
Returns By Period
In the year-to-date period, USMTX achieves a 0.32% return, which is significantly higher than MUB's 0.04% return.
USMTX
- 1D
- 0.00%
- 1M
- -0.30%
- YTD
- 0.32%
- 6M
- 0.91%
- 1Y
- 2.68%
- 3Y*
- 3.01%
- 5Y*
- 1.85%
- 10Y*
- —
MUB
- 1D
- 0.42%
- 1M
- -1.55%
- YTD
- 0.04%
- 6M
- 1.52%
- 1Y
- 4.03%
- 3Y*
- 2.67%
- 5Y*
- 0.88%
- 10Y*
- 2.00%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
USMTX vs. MUB - Expense Ratio Comparison
USMTX has a 0.24% expense ratio, which is higher than MUB's 0.07% 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
USMTX vs. MUB — Risk / Return Rank
USMTX
MUB
USMTX vs. MUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Ultra-Short Municipal Fund (USMTX) and iShares National AMT-Free Muni Bond ETF (MUB). 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.
| USMTX | MUB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.86 | 0.98 | +2.88 |
Sortino ratioReturn per unit of downside risk | 6.92 | 1.27 | +5.64 |
Omega ratioGain probability vs. loss probability | 3.29 | 1.21 | +2.08 |
Calmar ratioReturn relative to maximum drawdown | 6.97 | 1.33 | +5.64 |
Martin ratioReturn relative to average drawdown | 36.30 | 4.22 | +32.08 |
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 graphics...
Sharpe Ratios by Period
| USMTX | MUB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.86 | 0.98 | +2.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.60 | 0.22 | +2.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.41 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.09 | 0.58 | +1.51 |
Correlation
The correlation between USMTX and MUB is 0.24, 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
USMTX vs. MUB - Dividend Comparison
USMTX's dividend yield for the trailing twelve months is around 2.55%, less than MUB's 3.19% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USMTX JPMorgan Ultra-Short Municipal Fund | 2.55% | 2.62% | 3.05% | 2.58% | 0.89% | 0.25% | 0.76% | 1.49% | 1.31% | 0.78% | 0.00% | 0.00% |
MUB iShares National AMT-Free Muni Bond ETF | 3.19% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
Drawdowns
USMTX vs. MUB - Drawdown Comparison
The maximum USMTX drawdown since its inception was -1.98%, smaller than the maximum MUB drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for USMTX and MUB.
Loading graphics...
Drawdown Indicators
| USMTX | MUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.98% | -13.68% | +11.70% |
Max Drawdown (1Y)Largest decline over 1 year | -0.40% | -3.30% | +2.90% |
Max Drawdown (5Y)Largest decline over 5 years | -1.92% | -11.88% | +9.96% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.68% | — |
Current DrawdownCurrent decline from peak | -0.30% | -1.87% | +1.57% |
Average DrawdownAverage peak-to-trough decline | -0.19% | -2.24% | +2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.08% | 1.04% | -0.96% |
Volatility
USMTX vs. MUB - Volatility Comparison
The current volatility for JPMorgan Ultra-Short Municipal Fund (USMTX) is 0.22%, while iShares National AMT-Free Muni Bond ETF (MUB) has a volatility of 1.56%. This indicates that USMTX experiences smaller price fluctuations and is considered to be less risky than MUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| USMTX | MUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.22% | 1.56% | -1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 0.40% | 2.07% | -1.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.70% | 4.15% | -3.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.72% | 4.04% | -3.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.75% | 4.91% | -4.16% |