IVV vs JMST
iShares Core S&P 500 ETF vs JPMorgan Ultra-Short Municipal Income ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | JMST | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.18% | |
| AUM | $865.2B | $7.1B | |
| Dividend Yield | 1.09% | 2.96% | |
| Holdings | 508 | 1,727 | |
| YTD Return | +14.50% | +1.24% | |
| 1Y Return | +22.02% | +2.27% | |
| 3Y Return (annualized) | +21.80% | +3.24% | |
| 5Y Return (annualized) | +13.37% | +2.31% | |
| Volatility (annualized) | 15.1% | 0.8% | |
| Max Drawdown | -56.5% | -2.4% | |
| Fund Family | iShares by BlackRock (US) | J.P. Morgan Asset Management | |
| Category | Equity | Fixed Income | |
| Inception | May 15, 2000 | Oct 16, 2018 |
IVV vs JMST Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and JPMorgan Ultra-Short Municipal Income ETF (JMST) is a ETF from J.P. Morgan Asset Management. Over the past year IVV returned +22.02% while JMST returned +2.27%. Year to date, IVV is up 14.50% versus a gain of 1.24% for JMST.
Over three years, IVV compounded at +21.80% per year against +3.24% for JMST; over five years the annualized figures are +13.37% and +2.31% respectively. Across the full 8-year window we track, IVV has the edge at +7.07% annualized vs +1.75%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 0.8% for JMST. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.5% for IVV and -2.4% for JMST. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.40. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while JMST charges 0.18%. On a $10,000 position that is $3 vs $18 annually, a gap of $15 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 2.96% for JMST.
Holdings Overlap
IVV and JMST share 0 holdings out of 748 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or JMST?
IVV has an expense ratio of 0.03% while JMST charges 0.18%. IVV is the cheaper option. On a $10,000 investment, that is $15 per year of difference.
Which performed better, IVV or JMST?
Over the past year IVV returned +22.02% vs +2.27% for JMST, so IVV leads on 1-year performance. Over the longest common window we track (8 years), IVV annualized +7.07% vs +1.75% for JMST. Past performance does not guarantee future results.
Which is riskier, IVV or JMST?
IVV has been the more volatile fund at 15.1% annualized versus 0.8% for JMST. Worst drawdown: IVV -56.5% vs JMST -2.4%.
Should I hold both IVV and JMST?
IVV and JMST have a monthly-return correlation of 0.40, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and JMST?
IVV and JMST share 0 common holdings with a 0.0% weight overlap. Combined, they hold 748 unique securities.
Which pays a higher dividend, IVV or JMST?
IVV yields 1.09% while JMST yields 2.96%, so JMST currently pays the higher dividend yield.
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