VTES vs. JMST
Compare and contrast key facts about Vanguard Short-Term Tax-Exempt Bond ETF Shares (VTES) and JPMorgan Ultra-Short Municipal Income ETF (JMST).
VTES and JMST are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VTES is a passively managed fund by Vanguard that tracks the performance of the S&P 0-7 Yr National AMT-Free Municipal Bond Index - Benchmark TR Gross. It was launched on Mar 8, 2023. 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: VTES or JMST.
Key characteristics
| VTES | JMST | |
|---|---|---|
| YTD Return | 1.77% | 2.91% |
| 1Y Return | 4.46% | 4.03% |
| Sharpe Ratio | 2.87 | 5.12 |
| Sortino Ratio | 4.45 | 9.24 |
| Omega Ratio | 1.66 | 2.29 |
| Calmar Ratio | 3.75 | 23.91 |
| Martin Ratio | 12.01 | 103.98 |
| Ulcer Index | 0.37% | 0.04% |
| Daily Std Dev | 1.55% | 0.78% |
| Max Drawdown | -2.42% | -2.41% |
| Current Drawdown | -0.34% | 0.00% |
Correlation
The correlation between VTES and JMST is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
VTES vs. JMST - Performance Comparison
In the year-to-date period, VTES achieves a 1.77% return, which is significantly lower than JMST's 2.91% 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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VTES vs. JMST - Expense Ratio Comparison
VTES 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
VTES vs. JMST - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Tax-Exempt Bond ETF Shares (VTES) 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
VTES vs. JMST - Dividend Comparison
VTES's dividend yield for the trailing twelve months is around 2.98%, less than JMST's 3.35% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
VTES Vanguard Short-Term Tax-Exempt Bond ETF Shares | 2.98% | 2.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JMST JPMorgan Ultra-Short Municipal Income ETF | 3.35% | 3.09% | 1.11% | 0.27% | 0.87% | 1.63% | 0.34% |
Drawdowns
VTES vs. JMST - Drawdown Comparison
The maximum VTES drawdown since its inception was -2.42%, roughly equal to the maximum JMST drawdown of -2.41%. Use the drawdown chart below to compare losses from any high point for VTES and JMST. For additional features, visit the drawdowns tool.
Volatility
VTES vs. JMST - Volatility Comparison
Vanguard Short-Term Tax-Exempt Bond ETF Shares (VTES) has a higher volatility of 0.76% compared to JPMorgan Ultra-Short Municipal Income ETF (JMST) at 0.29%. This indicates that VTES'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.