HYD vs JMST: Holdings Overlap
VanEck · 1911 holdings · $4.4B · as of 2026-04-30
JMSTJPMorgan Ultra-Short Municipal Income ETF
JPMorgan · 1799 holdings · $7.1B · as of 2026-05-31
Holdings snapshots are 31 days apart (HYD: 2026-04-30, 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 HYD and JMST?
VanEck High Yield Muni ETF (HYD, by VanEck) holds 1911 positions; JPMorgan Ultra-Short Municipal Income ETF (JMST, by JPMorgan) holds 1799. They have 7 holdings in common, and by portfolio weight the two funds are 0.3% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 0.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 7HYD holds 1911 · JMST holds 1799
- Weight in Shared Holdings
- HYD 0%·JMST 0%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 HYD
1904 of 1911 positions (94.9% of the fund) are not held by JMST. Showing the top 30 by weight.
- Puerto Rico Sales Tax Financing Corp. Sales Tax, Series A-10.99%
- Buckeye Tobacco Settlement Financing Authority, Series 2020B-2, Class 20.87%
- Tobacco Settlement Financing Corp., Series 2018B0.71%
- CHICAGO IL BRD OF EDU0.67%
- NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE0.66%
- PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE0.63%
Only in JMST
1792 of 1799 positions (72.0% of the fund) are not held by HYD. 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 |
|---|---|---|---|---|---|---|---|
| HYD | -1.5% | +1.3% | +7.1% | +4.5% | -0.5% | +2.8% | 4.38% |
| 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 HYD vs JMST →
Shared Holdings(7)
The top 7 shared positions account for 99% of the overlap, led by Florida Local Government Finance Commission, Fleet Landing at Nocatee Project, Series 2025B-3, State of Illinois, Series 2017C and Indiana Finance Authority, Indiana University Health Obligated Group, Series 2025D-1.
| Florida Local Government Finance Commission, Fleet Landing at Nocatee Project, Series 2025B-3 | 0.10% | 0.10% | 0.10% |
|---|---|---|---|
| State of Illinois, Series 2017C | 0.10% | 0.06% | 0.06% |
| Indiana Finance Authority, Indiana University Health Obligated Group, Series 2025D-1 | 0.05% | 0.04% | 0.04% |
| City of Houston Airport System, United Airlines, Inc., Terminal Improvement Projects, Series 2025B | 0.04% | 0.04% | 0.04% |
| State of Illinois, Series 2016 | 0.01% | 0.01% | 0.01% |
| City of Chicago, Capital Appreciation City College, Series 1999 | 0.01% | 0.16% | 0.01% |
| New Jersey Transportation Trust Fund Authority, Transportation System, Series 2019A | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
How much do HYD and JMST overlap?
HYD and JMST overlap by 0.3% of portfolio weight. They share 7 holdings (HYD holds 1911 positions and JMST holds 1799), based on each fund's latest SEC-reported holdings.
Is it redundant to own both HYD and JMST?
The two portfolios are 0.3% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of HYD and JMST?
The largest positions held by both funds are Florida Local Government Finance Commission, Fleet Landing at Nocatee Project, Series 2025B-3, State of Illinois, Series 2017C, Indiana Finance Authority, Indiana University Health Obligated Group, Series 2025D-1, City of Houston Airport System, United Airlines, Inc., Terminal Improvement Projects, Series 2025B and State of Illinois, Series 2016. Together the top 7 shared positions account for 99% of the total overlap.
What does HYD own that JMST doesn't?
1904 positions (94.9% of HYD) are unique to HYD, led by Puerto Rico Sales Tax Financing Corp. Sales Tax, Series A-1, Buckeye Tobacco Settlement Financing Authority, Series 2020B-2, Class 2 and Tobacco Settlement Financing Corp., Series 2018B. In the other direction, 1792 positions (72.0% of JMST) are unique to JMST.