ETF comparison

JMST vs SHM

Both US Municipal Bond.

JPMorgan Ultra-Short Municipal Income ETF · State Street SPDR Nuveen ICE Short Term Municipal Bond ETF

Holdings overlap

Weighted by ISIN/CUSIP
2.3 %

69 positions appear in both funds. Buying equal dollars of JMST and SHM would leave roughly 2.3% of each dollar exposed to the same underlying securities.

JMST only 96.7% Shared 2.3% SHM only 97.7%
In JMST only
1,504 positions
Shared
69 positions
In SHM only
919 positions

Side by side

JMST

JPMorgan Ultra-Short Municipal Income ETF

JPMorgan · US Municipal Bond

87 composite / 100
Expense ratio
0.18%
Net assets
$6.72B
TTM yield
2.62%
Top-10 conc.
20.4%
SHM

State Street SPDR Nuveen ICE Short Term Municipal Bond ETF

State Street · US Municipal Bond

86 composite / 100
Expense ratio
0.20%
Net assets
$3.47B
TTM yield
2.67%
Top-10 conc.
6.1%

Sub-score comparison

82
Cost
80
93
Tax efficiency
93
92
Liquidity
80
85
Concentration
100
Tracking quality
JMST sub-score SHM

Tracking quality isn't part of the composite — see what we don't score for why.

Cost difference

JMST is 2 bps cheaper than SHM. On a $100,000 position that's about $20/yr more in fees for SHM.

Fee figure is the annual expense charged on $100,000. To see how the gap compounds over a multi-decade holding period, open the cost calculator pre-filled with JMST vs SHM.

Top shared holdings

69 shared in total
# Holding In JMST In SHM Overlap
1 Texas Municipal Gas Acquisition & Supply Corp. IV 0.38% 0.21% 0.21%
2 Tarrant County Cultural Education Facilities Finance Corp. 0.34% 0.15% 0.15%
3 State of Texas 0.09% 0.23% 0.09%
4 New York City Transitional Finance Authority Future Tax Secured Revenue 0.09% 0.08% 0.08%
5 Wisconsin Health & Educational Facilities Authority 0.08% 0.11% 0.08%
6 Indiana Finance Authority 0.07% 0.09% 0.07%
7 Cypress-Fairbanks Independent School District 0.19% 0.06% 0.06%
8 North Texas Tollway Authority 0.08% 0.06% 0.06%
9 Health & Educational Facilities Authority of the State of Missouri 0.31% 0.06% 0.06%
10 State of Illinois 0.06% 0.06% 0.06%
11 General Authority of Southcentral Pennsylvania 0.06% 0.09% 0.06%
12 City of Philadelphia PA 0.10% 0.06% 0.06%

Only in JMST

1,504 total
  • JPMorgan Institutional Tax Free Money Market Fund 13.30%
  • New York City Municipal Water Finance Authority 1.05%
  • State of Washington 0.95%
  • State of Minnesota 0.81%
  • Triborough Bridge & Tunnel Authority 0.77%
  • Township of Woodbridge NJ 0.74%
  • Maryland Health & Higher Educational Facilities Authority 0.73%
  • Tarrant County Cultural Education Facilities Finance Corp. 0.70%
  • County of Hamilton OH Sales Tax Revenue 0.69%
  • City of Houston TX Combined Utility System Revenue 0.65%

Only in SHM

919 total
  • Southeast Energy Authority A Cooperative District 0.93%
  • City of New York NY 0.91%
  • State of California 0.70%
  • New York State Dormitory Authority 0.62%
  • State of California 0.53%
  • New York City Transitional Finance Authority Future Tax Secured Revenue 0.52%
  • Triborough Bridge & Tunnel Authority 0.51%
  • State of California 0.49%
  • State of California 0.46%
  • University of California 0.41%

Open JMST or SHM at a brokerage

Both funds trade commission-free at major US brokerages.

Affiliate links — opening an account through these earns PlainIndex a one-time referral. Scoring is computed before any affiliate consideration; see our methodology and funding disclosure.

Holdings overlap is the sum of min(weight_a, weight_b) over positions matched on ISIN (CUSIP fallback). Methodology: see /methodology/.

Comparing two funds doesn't endorse swapping one for the other. Tax-lot history, account type, and personal goals matter — PlainIndex publishes data and methodology, not investment advice.