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ETF comparison

JMST vs SUB

Both US Municipal Bond.

JPMorgan Ultra-Short Municipal Income ETF · iShares Short-Term National Muni Bond ETF

Holdings overlap

Weighted by ISIN/CUSIP
2.5 %

222 positions appear in both funds. Buying equal dollars of JMST and SUB would leave roughly 2.5% of each dollar exposed to the same underlying securities.

JMST only 96.5% Shared 2.5% SUB only 97.6%
In JMST only
1,351 positions
Shared
222 positions
In SUB only
2,561 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%
SUB

iShares Short-Term National Muni Bond ETF

iShares · US Municipal Bond

96 composite / 100
Expense ratio
0.070%
Net assets
$11.38B
TTM yield
2.54%
Top-10 conc.
3.6%

Sub-score comparison

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

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

Cost difference

SUB is 11 bps cheaper than JMST. On a $100,000 position that's about $110/yr more in fees for JMST.

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 SUB.

Top shared holdings

222 shared in total
# Holding In JMST In SUB Overlap
1 City of Houston TX Combined Utility System Revenue 0.65% 0.21% 0.21%
2 State of Illinois 0.33% 0.17% 0.17%
3 City of New York NY 0.12% 0.22% 0.12%
4 State of New Mexico Severance Tax Permanent Fund 0.07% 0.14% 0.07%
5 State of Illinois 0.06% 0.11% 0.06%
6 New York City Transitional Finance Authority Future Tax Secured Revenue 0.06% 0.22% 0.06%
7 State of Illinois 0.05% 0.13% 0.05%
8 Cypress-Fairbanks Independent School District 0.19% 0.05% 0.05%
9 County of Clark NV 0.05% 0.14% 0.05%
10 Pennsylvania Turnpike Commission 0.62% 0.05% 0.05%
11 New York City Transitional Finance Authority Future Tax Secured Revenue 0.05% 0.10% 0.05%
12 North Texas Tollway Authority 0.08% 0.05% 0.05%

Only in JMST

1,351 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%
  • Massachusetts Development Finance Agency 0.65%

Only in SUB

2,561 total
  • BlackRock Liquidity Funds 1.00%
  • County of King 0.36%
  • State of California 0.29%
  • Empire State Development Corp. 0.27%
  • University of California 0.26%
  • New Jersey Turnpike Authority 0.26%
  • Pennsylvania Turnpike Commission 0.26%
  • State of California 0.25%
  • State of California 0.25%
  • Empire State Development Corp. 0.23%

Open JMST or SUB at a brokerage

Both funds trade commission-free at major US brokerages.

Open at Fidelity

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.