JMST vs VTI
JPMorgan Ultra-Short Municipal Income ETF vs Vanguard Morningstar Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. VTI delivered stronger 1-year returns. VTI offers more diversification with 3,543 holdings.
Side-by-Side Comparison
| Metric | JMST | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.03% | |
| AUM | $7.2B | $666.9B | |
| Dividend Yield | 2.62% | 1.07% | |
| Holdings | 1,617 | 3,543 | |
| YTD Return | +1.49% | +12.65% | |
| 1Y Return | +2.53% | +21.39% | |
| 3Y Return (annualized) | +3.34% | +21.54% | |
| 5Y Return (annualized) | +2.35% | +12.11% | |
| Volatility (annualized) | 0.8% | 15.3% | |
| Max Drawdown | -2.4% | -56.6% | |
| Fund Family | J.P. Morgan Asset Management | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Oct 16, 2018 | May 24, 2001 |
JMST vs VTI Performance
JPMorgan Ultra-Short Municipal Income ETF (JMST) is a ETF from J.P. Morgan Asset Management and Vanguard Morningstar Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year JMST returned +2.53% while VTI returned +21.39%. Year to date, JMST is up 1.49% versus a gain of 12.65% for VTI.
Over three years, JMST compounded at +3.34% per year against +21.54% for VTI; over five years the annualized figures are +2.35% and +12.11% respectively. Across the full 8-year window we track, VTI has the edge at +8.07% annualized vs +1.78%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 15.3% 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 -56.6% for VTI. 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 0.41. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
JMST charges 0.18% per year while VTI 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 2.62% against 1.07% for VTI.
Holdings Overlap
JMST and VTI share 0 holdings out of 2820 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 VTI?
JMST has an expense ratio of 0.18% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $15 per year of difference.
Which performed better, JMST or VTI?
Over the past year JMST returned +2.53% vs +21.39% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (8 years), JMST annualized +1.78% vs +8.07% for VTI. Past performance does not guarantee future results.
Which is riskier, JMST or VTI?
VTI has been the more volatile fund at 15.3% annualized versus 0.8% for JMST. Worst drawdown: JMST -2.4% vs VTI -56.6%.
Should I hold both JMST and VTI?
JMST and VTI have a monthly-return correlation of 0.41, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between JMST and VTI?
JMST and VTI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 2820 unique securities.
Which pays a higher dividend, JMST or VTI?
JMST yields 2.62% while VTI yields 1.07%, so JMST currently pays the higher dividend yield.
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