JMST vs VOO
JPMorgan Ultra-Short Municipal Income ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | JMST | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.03% | |
| AUM | $7.1B | $979.0B | |
| Dividend Yield | 2.96% | 1.09% | |
| Holdings | 1,727 | 509 | |
| YTD Return | +1.18% | +13.72% | |
| 1Y Return | +2.23% | +21.63% | |
| 3Y Return (annualized) | +3.23% | +21.55% | |
| 5Y Return (annualized) | +2.29% | +13.26% | |
| Volatility (annualized) | 0.8% | 14.1% | |
| Max Drawdown | -2.4% | -34.3% | |
| Fund Family | J.P. Morgan Asset Management | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Oct 16, 2018 | Sep 7, 2010 |
JMST vs VOO Performance
JPMorgan Ultra-Short Municipal Income ETF (JMST) is a ETF from J.P. Morgan Asset Management and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year JMST returned +2.23% while VOO returned +21.63%. Year to date, JMST is up 1.18% versus a gain of 13.72% for VOO.
Over three years, JMST compounded at +3.23% per year against +21.55% for VOO; over five years the annualized figures are +2.29% and +13.26% respectively. Across the full 8-year window we track, VOO has the edge at +13.56% annualized vs +1.74%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% 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 -2.4% for JMST and -34.3% for VOO. 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
JMST charges 0.18% per year while VOO charges 0.03%. On a $10,000 position that is $18 vs $3 annually, a gap of $15 per year that compounds over a long holding period. On income, JMST currently yields 2.96% against 1.09% for VOO.
Holdings Overlap
JMST and VOO 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, JMST or VOO?
JMST has an expense ratio of 0.18% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $15 per year of difference.
Which performed better, JMST or VOO?
Over the past year JMST returned +2.23% vs +21.63% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (8 years), JMST annualized +1.74% vs +13.56% for VOO. Past performance does not guarantee future results.
Which is riskier, JMST or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 0.8% for JMST. Worst drawdown: JMST -2.4% vs VOO -34.3%.
Should I hold both JMST and VOO?
JMST and VOO 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 JMST and VOO?
JMST and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 748 unique securities.
Which pays a higher dividend, JMST or VOO?
JMST yields 2.96% while VOO yields 1.09%, so JMST currently pays the higher dividend yield.
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