JMST vs SCHD
JPMorgan Ultra-Short Municipal Income ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. JMST offers more diversification with 243 holdings.
Side-by-Side Comparison
| Metric | JMST | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.06% | |
| AUM | $7.1B | $103.7B | |
| Dividend Yield | 2.96% | 3.31% | |
| Holdings | 1,727 | 104 | |
| YTD Return | +1.18% | +25.58% | |
| 1Y Return | +2.23% | +31.06% | |
| 3Y Return (annualized) | +3.23% | +15.55% | |
| 5Y Return (annualized) | +2.29% | +9.61% | |
| Volatility (annualized) | 0.8% | 13.6% | |
| Max Drawdown | -2.4% | -33.4% | |
| Fund Family | J.P. Morgan Asset Management | Charles Schwab Asset Management | |
| Category | Fixed Income | Equity | |
| Inception | Oct 16, 2018 | Oct 20, 2011 |
JMST vs SCHD Performance
JPMorgan Ultra-Short Municipal Income ETF (JMST) is a ETF from J.P. Morgan Asset Management and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year JMST returned +2.23% while SCHD returned +31.06%. Year to date, JMST is up 1.18% versus a gain of 25.58% for SCHD.
Over three years, JMST compounded at +3.23% per year against +15.55% for SCHD; over five years the annualized figures are +2.29% and +9.61% respectively. Across the full 8-year window we track, SCHD has the edge at +11.46% annualized vs +1.74%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% 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 -2.4% for JMST and -33.4% for SCHD. 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 0.35. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
JMST charges 0.18% per year while SCHD charges 0.06%. On a $10,000 position that is $18 vs $6 annually, a gap of $12 per year that compounds over a long holding period. On income, JMST currently yields 2.96% against 3.31% for SCHD.
Holdings Overlap
JMST and SCHD share 0 holdings out of 343 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, JMST or SCHD?
JMST has an expense ratio of 0.18% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $12 per year of difference.
Which performed better, JMST or SCHD?
Over the past year JMST returned +2.23% vs +31.06% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (8 years), JMST annualized +1.74% vs +11.46% for SCHD. Past performance does not guarantee future results.
Which is riskier, JMST or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 0.8% for JMST. Worst drawdown: JMST -2.4% vs SCHD -33.4%.
Should I hold both JMST and SCHD?
JMST and SCHD have a monthly-return correlation of 0.35, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between JMST and SCHD?
JMST and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 343 unique securities.
Which pays a higher dividend, JMST or SCHD?
JMST yields 2.96% while SCHD yields 3.31%, so SCHD currently pays the higher dividend yield.
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