JMST Performance — JPMorgan Ultra-Short Municipal Income ETF
Data updated: 2026-07-28
JMST returned +0.92% year to date and +2.91% over one year to May 2026. Annualised returns are +3.32% over 3 years and +2.55% over 5 years. The fund trailed its Trading - Leveraged category average: $100 invested three years ago grew to $110, against $173 for the category, and to $103 over one year, against $137. Volatility over the past three years was 0.56% a year. In the 12 months to May 2026 the fund took in a net $2.6B, and assets reached $6.36B.
JMST Growth of $100
What $100 invested in JPMorgan Ultra-Short Municipal Income ETF grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Trading - Leveraged category average over the same months.
| Period | JMST | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $103 | $137 |
| 3 years (Jun 2023 – May 2026) | $110 | $173 |
| 5 years (Jun 2021 – May 2026) | $113 | $155 |
| Since data start (Sep 2019 – May 2026) | $116 | $181 |
JMST Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +0.92% |
| 1 year | +2.91% |
| 3 years (annualised) | +3.32% |
| 5 years (annualised) | +2.55% |
JMST Annual Returns
Calendar-year total returns of JPMorgan Ultra-Short Municipal Income ETF, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +0.92% |
| 2025 | +3.31% |
| 2024 | +3.33% |
| 2023 | +5.03% |
| 2022 | +0.14% |
| 2021 | +0.29% |
| 2020 | +2.00% |
| 2019 (Sep–Dec) | +0.41% |
JMST Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.3% | +0.2% | −0.1% | +0.2% | +0.2% | — | — | — | — | — | — | — |
| 2025 | +0.4% | +0.3% | +0.1% | +0.1% | +0.4% | +0.4% | +0.4% | +0.3% | +0.2% | +0.1% | +0.3% | +0.3% |
| 2024 | +0.2% | +0.3% | +0.1% | +0.2% | +0.2% | +0.4% | +0.5% | +0.4% | +0.3% | 0.0% | +0.4% | +0.1% |
| 2023 | +0.5% | −0.1% | +0.6% | +1.5% | 0.0% | +0.3% | +0.3% | +0.2% | 0.0% | +0.3% | +0.8% | +0.4% |
| 2022 | −0.4% | −0.1% | −0.3% | −0.1% | +0.4% | 0.0% | +0.3% | −0.2% | −0.3% | +0.2% | +0.6% | +0.2% |
| 2021 | +0.1% | −0.1% | +0.1% | +0.1% | 0.0% | 0.0% | +0.1% | 0.0% | −0.1% | 0.0% | +0.1% | 0.0% |
| 2020 | +0.3% | +0.1% | −0.1% | +0.4% | +0.7% | +0.1% | +0.2% | +0.1% | +0.1% | 0.0% | +0.1% | +0.1% |
| 2019 | — | — | — | — | — | — | — | — | −0.1% | +0.2% | +0.1% | +0.1% |
JMST Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 0.56%
- 3-year Sharpe ratio: -2.09 (vs 4.5% risk-free rate)
- Best month: +0.85% (Nov 2023)
- Worst month: −0.07% (Mar 2026)
JMST Fund Flows
Monthly money in and out of JPMorgan Ultra-Short Municipal Income ETF, from SEC Form N-PORT.
- 12-month net flow: $2.6B
- 12-month gross sales (incl. reinvestments): $3.6B
- Sales ÷ redemptions: 3.61×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $167.9M | $0 | $167.9M |
| Apr 2026 | $40.8M | $191.0M | −$150.2M |
| Mar 2026 | $193.8M | $0 | $193.8M |
| Feb 2026 | $56.2M | $30.6M | $25.5M |
| Jan 2026 | $515.6M | $765.2M | −$249.6M |
| Dec 2025 | $815.5M | $0 | $815.5M |
| Nov 2025 | $389.6M | $0 | $389.6M |
| Oct 2025 | $463.6M | $0 | $463.6M |
| Sep 2025 | $316.2M | $0 | $316.2M |
| Aug 2025 | $198.8M | $0 | $198.8M |
| Jul 2025 | $127.2M | $0 | $127.2M |
| Jun 2025 | $279.5M | $0 | $279.5M |
JMST Assets Under Management
Net assets of JPMorgan Ultra-Short Municipal Income ETF by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $6.36B |
| 2026-02-28 | $6.17B |
| 2025-11-30 | $5.57B |
| 2025-08-31 | $4.40B |
| 2025-05-31 | $3.78B |
| 2025-02-28 | $3.44B |
| 2024-11-30 | $2.92B |
| 2024-08-31 | $2.76B |
| 2024-05-31 | $2.64B |
| 2024-02-29 | $2.64B |
| 2023-11-30 | $2.55B |
| 2023-08-31 | $2.57B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.