JMUB vs JMST: Holdings Overlap
JPMorgan · 1884 holdings · $8.4B · as of 2026-05-31
JMSTJPMorgan Ultra-Short Municipal Income ETF
JPMorgan · 1799 holdings · $7.1B · as of 2026-05-31
How similar are JMUB and JMST?
JPMorgan Municipal ETF (JMUB, by JPMorgan) holds 1884 positions; JPMorgan Ultra-Short Municipal Income ETF (JMST, by JPMorgan) holds 1799. They have 43 holdings in common, and by portfolio weight the two funds are 1.7% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 1.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 43JMUB holds 1884 · JMST holds 1799
- Weight in Shared Holdings
- JMUB 2%·JMST 5%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 JMUB
1841 of 1884 positions (81.6% of the fund) are not held by JMST. Showing the top 30 by weight.
- Black Belt Energy Gas District, Gas Project, Series 2026A0.77%
- California Community Choice Financing Authority, Clean Energy Project, Series 2026B0.70%
- California Health Facilities Financing Authority, Rady Children's Health, Series 2026B-30.67%
- California Community Choice Financing Authority, Clean Energy Project, Series 2026C0.61%
- Buckeye Tobacco Settlement Financing Authority, Series 2020B-2, Class 20.55%
- Puerto Rico Sales Tax Financing Corp. Sales Tax, Series A-20.51%
Only in JMST
1756 of 1799 positions (67.8% of the fund) are not held by JMUB. 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%
- City of Bristol0.59%
- Township of Hamilton, Series 2025B0.58%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| JMUB | -0.7% | +1.0% | +4.8% | +3.8% | +1.0% | — | 3.65% |
| 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 JMUB vs JMST →
Shared Holdings(43)
The top 10 shared positions account for 63% of the overlap, led by City of Albany, Series 2026, County of Hamilton Sales Tax, Series 2025 and Gouverneur Central School District, Series 2025.
| City of Albany, Series 2026 | 0.32% | 0.51% | 0.32% |
|---|---|---|---|
| County of Hamilton Sales Tax, Series 2025 | 0.20% | 0.66% | 0.20% |
| Gouverneur Central School District, Series 2025 | 0.13% | 0.31% | 0.13% |
| Tobacco Settlement Financing Corp., Series 2018A | 0.08% | 0.07% | 0.07% |
| Colorado Health Facilities Authority, Adventist Health System, Series 2025A | 0.07% | 0.12% | 0.07% |
| Texas Municipal Gas Acquisition and Supply Corp. IV, Gas Supply, Series 2023A | 0.07% | 0.36% | 0.07% |
| State of Illinois, Series 2017D | 0.07% | 0.31% | 0.07% |
| Indiana Finance Authority, Indiana University Health Obligated Group, Series 2023B1 | 0.11% | 0.06% | 0.06% |
| New York City Transitional Finance Authority Future Tax Secured Fiscal Year 2026, Series 2026, Subseries D-1 | 0.05% | 0.10% | 0.05% |
| Houston Independent School District, Limited Tax, Series 2025B | 0.05% | 0.11% | 0.05% |
| Village of Scotia, Series 2025 | 0.04% | 0.17% | 0.04% |
| Lyons Central School District, Series 2025 | 0.04% | 0.14% | 0.04% |
| Canisteo-Greenwood Central School District, Series 2025 | 0.04% | 0.12% | 0.04% |
| Geneseo Central School District, Series 2025 | 0.04% | 0.11% | 0.04% |
| Commonwealth Financing Authority, Tobacco Master Settlement Payment, Series 2018 | 0.04% | 0.05% | 0.04% |
| Rutherford County Health and Educational Facilities Board, Ascension Senior Credit Group, Series 2025B1 | 0.04% | 0.04% | 0.04% |
| Build NYC Resource Corp., The Young Men's and Women's Hebrew Association Project, Series 2024 | 0.03% | 0.13% | 0.03% |
| State of Connecticut, Series 2025B | 0.06% | 0.03% | 0.03% |
| Health and Educational Facilities Authority of the State of Missouri, Series 2021C | 0.03% | 0.30% | 0.03% |
| Plano Independent School District, Unlimited Tax, Series 2025 | 0.03% | 0.05% | 0.03% |
| Tarrant County Cultural Education Facilities Finance Corp., Baylor Scott & White Health Project, Series 2022F | 0.03% | 0.03% | 0.03% |
| New Jersey Economic Development Authority, School Facilities Construction, Series 2019GGG | 0.03% | 0.06% | 0.03% |
| New York State Dormitory Authority, Sales Tax, Series 2024A | 0.05% | 0.03% | 0.03% |
| New York State Dormitory Authority, Series 2024A | 0.04% | 0.02% | 0.02% |
| Missouri Development Finance Board, Procter & Gamble Co. Project, Series 1999 | 0.02% | 0.02% | 0.02% |
Frequently Asked Questions
How much do JMUB and JMST overlap?
JMUB and JMST overlap by 1.7% of portfolio weight. They share 43 holdings (JMUB holds 1884 positions and JMST holds 1799), based on each fund's latest SEC-reported holdings.
Is it redundant to own both JMUB and JMST?
The two portfolios are 1.7% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of JMUB and JMST?
The largest positions held by both funds are City of Albany, Series 2026, County of Hamilton Sales Tax, Series 2025, Gouverneur Central School District, Series 2025, Tobacco Settlement Financing Corp., Series 2018A and Colorado Health Facilities Authority, Adventist Health System, Series 2025A. Together the top 10 shared positions account for 63% of the total overlap.
What does JMUB own that JMST doesn't?
1841 positions (81.6% of JMUB) are unique to JMUB, led by Black Belt Energy Gas District, Gas Project, Series 2026A, California Community Choice Financing Authority, Clean Energy Project, Series 2026B and California Health Facilities Financing Authority, Rady Children's Health, Series 2026B-3. In the other direction, 1756 positions (67.8% of JMST) are unique to JMST.