VYMI vs. JMST
VYMI (Vanguard International High Dividend Yield ETF) and JMST (JPMorgan Ultra-Short Municipal Income ETF) are both exchange-traded funds - VYMI is a Dividend fund tracking the FTSE All-World ex US High Dividend Yield Index, while JMST is a Ultrashort Bond fund actively managed by JPMorgan. VYMI is passively managed, while JMST is actively managed. Over the past 5 years, VYMI returned 13.43%/yr vs 2.31%/yr for JMST. At a 0.06 correlation, their price movements are largely independent. VYMI charges 0.07%/yr vs 0.18%/yr for JMST.
Performance
VYMI vs. JMST - Performance Comparison
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Returns By Period
In the year-to-date period, VYMI achieves a 13.64% return, which is significantly higher than JMST's 1.26% return.
VYMI
- 1D
- -0.65%
- 1M
- 0.98%
- 6M
- 10.39%
- YTD
- 13.64%
- 1Y
- 30.07%
- 3Y*
- 20.68%
- 5Y*
- 13.43%
- 10Y*
- 10.70%
- ALL TIME*
- 11.03%
JMST
- 1D
- 0.04%
- 1M
- 0.15%
- 6M
- 1.06%
- YTD
- 1.26%
- 1Y
- 2.68%
- 3Y*
- 3.27%
- 5Y*
- 2.31%
- 10Y*
- —
- ALL TIME*
- 2.14%
VYMI vs. JMST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VYMI Vanguard International High Dividend Yield ETF | 13.64% | 38.05% | 7.06% | 17.07% | -7.02% | 15.39% | -1.11% | 18.43% | -5.45% |
JMST JPMorgan Ultra-Short Municipal Income ETF | 1.26% | 3.35% | 3.31% | 3.56% | 0.07% | 0.31% | 2.00% | 2.09% | 0.70% |
Correlation
The correlation between VYMI and JMST is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2018 | 0.06 |
The correlation between VYMI and JMST shifts across timeframes, from 0.06 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VYMI vs. JMST — Risk / Return Rank
VYMI
JMST
VYMI vs. JMST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard International High Dividend Yield ETF (VYMI) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VYMI | JMST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.19 | ||
| Sortino ratioReturn per unit of downside risk | -4.09 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 2.27 | -0.86 |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | 10.57 | -7.59 |
| Martin ratioReturn relative to average drawdown | 11.59 | 56.89 | -45.30 |
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Drawdowns
VYMI vs. JMST - Drawdown Comparison
The maximum VYMI drawdown since its inception was -40.00%, which is greater than JMST's maximum drawdown of -2.41%. Use the drawdown chart below to compare losses from any high point for VYMI and JMST.
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Drawdown Indicators
| VYMI | JMST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.00% | -2.41% | -37.59% |
Max Drawdown (1Y)Largest decline over 1 year | -10.14% | -0.25% | -9.89% |
Max Drawdown (3Y)Largest decline over 3 years | -12.84% | -0.71% | -12.13% |
Max Drawdown (5Y)Largest decline over 5 years | -24.05% | -1.15% | -22.90% |
Max Drawdown (10Y)Largest decline over 10 years | -40.00% | — | — |
Current DrawdownCurrent decline from peak | -1.14% | 0.00% | -1.14% |
Average DrawdownAverage peak-to-trough decline | -6.25% | -0.12% | -6.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 0.05% | +2.55% |
Volatility
VYMI vs. JMST - Volatility Comparison
Vanguard International High Dividend Yield ETF (VYMI) has a higher volatility of 2.96% compared to JPMorgan Ultra-Short Municipal Income ETF (JMST) at 0.14%. This indicates that VYMI'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
| VYMI | JMST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.96% | 0.14% | +2.82% |
Volatility (6M)Calculated over the trailing 6-month period | 11.33% | 0.42% | +10.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.27% | 0.60% | +12.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.83% | 0.83% | +14.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.53% | 1.13% | +15.40% |
VYMI vs. JMST - Expense Ratio Comparison
VYMI 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%.
Dividends
VYMI vs. JMST - Dividend Comparison
VYMI's dividend yield for the trailing twelve months is around 3.60%, more than JMST's 2.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
JMST JPMorgan Ultra-Short Municipal Income ETF | 2.62% | 2.84% | 3.32% | 3.09% | 1.10% | 0.27% | 0.87% | 1.63% | 0.28% | 0.00% | 0.00% |
VYMI Vanguard International High Dividend Yield ETF | 3.60% | 3.68% | 4.84% | 4.58% | 4.70% | 4.30% | 3.22% | 4.20% | 4.29% | 3.21% | 2.39% |
Frequently Asked Questions
VYMI and JMST have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VYMI has higher volatility (2.96%) compared to JMST (0.14%). In terms of maximum drawdown, VYMI dropped -40.00% vs JMST's -2.41%.
On 5-year performance, VYMI leads with 13.43% vs 2.31% for JMST. On fees, VYMI is cheaper at 0.07% per year. On volatility, JMST has been the lower-risk option at 0.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VYMI has performed better with a 13.43% return vs 2.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VYMI is cheaper with a 0.07% expense ratio, compared with 0.18% for JMST.
VYMI has the higher dividend yield at 3.60%, compared with 2.62% for JMST.
VYMI is categorized as Dividend, while JMST is Ultrashort Bond. They also come from different issuers: Vanguard and JPMorgan. Their fees differ too: 0.07% for VYMI and 0.18% for JMST.
JMST currently has the higher Sharpe Ratio (4.47 vs 2.28), 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.
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