CGMU vs JMST: Holdings Overlap
CGMUCapital Group Municipal Income ETF
Capital Group · 2128 holdings · $6.4B · as of 2026-03-31
JMSTJPMorgan Ultra-Short Municipal Income ETF
JPMorgan · 1799 holdings · $7.1B · as of 2026-05-31
Holdings snapshots are 61 days apart (CGMU: 2026-03-31, JMST: 2026-05-31). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are CGMU and JMST?
Capital Group Municipal Income ETF (CGMU, by Capital Group) holds 2128 positions; JPMorgan Ultra-Short Municipal Income ETF (JMST, by JPMorgan) holds 1799. They have 25 holdings in common, and by portfolio weight the two funds are 0.5% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 0.5%Sum of the smaller weight of each shared holding
- Shared Holdings
- 25CGMU holds 2128 · JMST holds 1799
- Weight in Shared Holdings
- CGMU 1%·JMST 1%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in CGMU
2103 of 2128 positions (99.6% of the fund) are not held by JMST. Showing the top 30 by weight.
- PUERTO RICO CMWLTH0.67%
- TRIBOROUGH NY BRIDGE & TUNNEL AUTH REVENUES0.58%
- Puerto Rico Sales Tax Financing Corp. Sales Tax, Series A-20.57%
- UNIV OF CALIFORNIA REVENUES0.56%
- NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE0.54%
- MONTGOMERY CNTY MD0.53%
Only in JMST
1774 of 1799 positions (71.3% of the fund) are not held by CGMU. Showing the top 30 by weight.
- State of Washington, Various Purpose, Series R-2026A0.90%
- State of Minnesota, Various Purpose, Series 2025D0.78%
- Township of Woodbridge0.71%
- Bergen County Improvement Authority (The), Guaranteed Government Pooled Project, Series 2026A0.68%
- County of Hamilton Sales Tax, Series 20250.66%
- City of Bristol0.59%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| CGMU | -0.7% | +1.1% | +4.9% | +4.5% | — | — | 3.38% |
| JMST | +0.2% | +1.4% | +2.5% | +3.4% | +2.3% | — | 2.61% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in CGMU vs JMST →
Shared Holdings(25)
The top 10 shared positions account for 93% of the overlap, led by Hampton Roads Transportation Accountability Commission, Transportation Fund, Senior Lien, Series 2021A, Florida Local Government Finance Commission, Fleet Landing at Nocatee Project, Series 2025B-3 and Texas Municipal Gas Acquisition and Supply Corp. IV, Gas Supply, Series 2023A.
| Hampton Roads Transportation Accountability Commission, Transportation Fund, Senior Lien, Series 2021A | 0.12% | 0.32% | 0.12% |
|---|---|---|---|
| Florida Local Government Finance Commission, Fleet Landing at Nocatee Project, Series 2025B-3 | 0.11% | 0.10% | 0.10% |
| Texas Municipal Gas Acquisition and Supply Corp. IV, Gas Supply, Series 2023A | 0.08% | 0.36% | 0.08% |
| Rutherford County Health and Educational Facilities Board, Ascension Senior Credit Group, Series 2025B1 | 0.09% | 0.04% | 0.04% |
| State of Alaska International Airports System, Series 2021C | 0.03% | 0.05% | 0.03% |
| Allen Independent School District, Series 2025A | 0.03% | 0.13% | 0.03% |
| State of Illinois, Series 2017D | 0.02% | 0.06% | 0.02% |
| Wisconsin Health and Educational Facilities Authority, Ascension Senior Credit Group, Series 2016A | 0.02% | 0.03% | 0.02% |
| City of San Antonio, Electric and Gas Systems, Series 2024D | 0.01% | 0.03% | 0.01% |
| Arizona Industrial Development Authority, Multi-Family The Ranches At Gunsmoke Project, Series 2024 | 0.04% | 0.01% | 0.01% |
| New Jersey Transportation Trust Fund Authority, Capital Appreciation, Series 2010A | 0.15% | 0.01% | 0.01% |
| City of San Jose, Multi-Family Housing Parkmoor, Series 2023F2 | 0.00% | 0.00% | 0.00% |
| South Carolina Public Service Authority, Series 2016A | 0.04% | 0.00% | 0.00% |
| State of Colorado, Series 2018A | 0.03% | 0.00% | 0.00% |
| South Carolina Public Service Authority, Series 2016A | 0.02% | 0.00% | 0.00% |
| State of Georgia, Series 2022A | 0.09% | 0.00% | 0.00% |
| Kentucky Housing Corp., Multi Family Housing Beecher Terrace Phase IV Project, Series 2023 | 0.03% | 0.00% | 0.00% |
| State of Illinois, Series 2023D | 0.02% | 0.00% | 0.00% |
| Black Belt Energy Gas District, Gas Project No. 6, Series 2021B | 0.10% | 0.00% | 0.00% |
| State of New Jersey, COVID-19 Emergency Bonds, Series 2020A | 0.05% | 0.00% | 0.00% |
| School District of Philadelphia (The), Series F | 0.05% | 0.00% | 0.00% |
| Permanent University Fund - Texas A&M University System, Series 2023 | 0.07% | 0.00% | 0.00% |
| State of Delaware, Series 2023 B | 0.00% | 0.00% | 0.00% |
| New Jersey Transportation Trust Fund Authority, Transportation System, Series 2019A | 0.01% | 0.00% | 0.00% |
| New Jersey Transportation Trust Fund Authority, Transportation System, Series 2021A | 0.03% | 0.00% | 0.00% |
Frequently Asked Questions
How much do CGMU and JMST overlap?
CGMU and JMST overlap by 0.5% of portfolio weight. They share 25 holdings (CGMU holds 2128 positions and JMST holds 1799), based on each fund's latest SEC-reported holdings.
Is it redundant to own both CGMU and JMST?
The two portfolios are 0.5% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of CGMU and JMST?
The largest positions held by both funds are Hampton Roads Transportation Accountability Commission, Transportation Fund, Senior Lien, Series 2021A, Florida Local Government Finance Commission, Fleet Landing at Nocatee Project, Series 2025B-3, Texas Municipal Gas Acquisition and Supply Corp. IV, Gas Supply, Series 2023A, Rutherford County Health and Educational Facilities Board, Ascension Senior Credit Group, Series 2025B1 and State of Alaska International Airports System, Series 2021C. Together the top 10 shared positions account for 93% of the total overlap.
What does CGMU own that JMST doesn't?
2103 positions (99.6% of CGMU) are unique to CGMU, led by PUERTO RICO CMWLTH, TRIBOROUGH NY BRIDGE & TUNNEL AUTH REVENUES and Puerto Rico Sales Tax Financing Corp. Sales Tax, Series A-2. In the other direction, 1774 positions (71.3% of JMST) are unique to JMST.