JPMorgan Ultra-Short Municipal Inc ETF
JMST - Snapshot
Vitals
- YTD Return 0.0%
- 3 Yr Annualized Return N/A
- 5 Yr Annualized Return N/A
- Net Assets $1.15 B
- Holdings in Top 10 18.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING RELATED FEES
- Expense Ratio 0.34%
SALES FEES
- Front Load N/A
- Deferred Load N/A
BROKERAGE FEES
- Turnover 153.00%
TRADING FEES
- Max Redemption Fee N/A
Min Investment
- Standard (Taxable) N/A
- IRA N/A
Fund Classification
-
Primary Theme
Municipal Bond
- Fund Type Exchange Traded Fund
- Investment Style Muni National Short
JMST - Profile
Distributions
- YTD Total Return 0.0%
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.55%
- Dividend Yield 0.7%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameJPMorgan Ultra-Short Municipal Income ETF
-
Fund Family NameJ.P. Morgan
-
Inception DateOct 16, 2018
-
Shares Outstanding22500005
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerRichard Taormina
Fund Description
Under normal circumstances, the fund invests at least 80% of its Assets in municipal securities, the income from which is exempt from federal income tax. For purposes of this policy, "Assets" means net assets, plus the amount of borrowings for investment purposes. Up to 100% of the fund's assets may be invested in short-term municipal instruments such as variable rate demand notes, short-term municipal notes and tax-exempt commercial paper.
JMST - Performance
Return Ranking - Trailing
| Period | JMST Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.0% | -0.6% | 1.4% | 59.65% |
| 1 Yr | 2.0% | -1.0% | 10.1% | 93.43% |
| 3 Yr | N/A* | -0.4% | 9.8% | N/A |
| 5 Yr | N/A* | -0.3% | 7.8% | N/A |
| 10 Yr | N/A* | -0.1% | 10.2% | N/A |
* Annualized
Return Ranking - Calendar
| Period | JMST Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2020 | 1.1% | -2.8% | 310.0% | 76.93% |
| 2019 | 0.4% | -0.3% | 15.4% | 98.16% |
| 2018 | N/A | -10.3% | 97.2% | N/A |
| 2017 | N/A | -100.0% | 7.6% | N/A |
| 2016 | N/A | -7.9% | 96.8% | N/A |
Total Return Ranking - Trailing
| Period | JMST Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.0% | -0.6% | 1.4% | 59.65% |
| 1 Yr | 2.0% | -5.0% | 10.1% | 69.33% |
| 3 Yr | N/A* | -2.4% | 9.8% | N/A |
| 5 Yr | N/A* | -1.4% | 7.8% | N/A |
| 10 Yr | N/A* | -0.1% | 10.2% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | JMST Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2020 | 1.1% | -2.8% | 310.0% | 76.93% |
| 2019 | 0.4% | -0.3% | 15.4% | 98.27% |
| 2018 | N/A | -10.3% | 11.0% | N/A |
| 2017 | N/A | -100.0% | 7.6% | N/A |
| 2016 | N/A | -7.9% | 3.0% | N/A |
JMST - Holdings
Concentration Analysis
| JMST | Category Low | Category High | JMST % Rank | |
|---|---|---|---|---|
| Net Assets | 1.15 B | 582 K | 81.8 B | 26.95% |
| Number of Holdings | 5517 | 3 | 10805 | 0.28% |
| Net Assets in Top 10 | 204 M | -199 M | 4.06 B | 21.14% |
| Weighting of Top 10 | 17.98% | 2.4% | 100.0% | 48.69% |
Top 10 Holdings
- PENNSYLVANIA ST TPK COMMN TPK REV 0.1% 1.24%
- NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 0.12% 1.16%
- VENTNOR CITY N J 2% 1.13%
- RHODE ISLAND HEALTH & EDL BLDG CORP HIGHER ED FAC REV 0.11% 1.11%
- OHIO HSG FIN AGY MULTIFAMILY HSG REV 1.4% 1.07%
- Windham Conn Go Bd Ant 2% 1.05%
- LOWELL MASS REGL TRAN AUTH 1.25% 1.03%
- OHIO HSG FIN AGY MULTIFAMILY HSG REV 1.4% 0.93%
- CAPITAL TR AGY FLA HSG REV 0.8% 0.93%
- ILLINOIS FIN AUTH REV 0.1% 0.88%
Asset Allocation
| Weighting | Return Low | Return High | JMST % Rank | |
|---|---|---|---|---|
| Bonds | 83.08% | 15.80% | 147.66% | 98.81% |
| Cash | 16.92% | -47.66% | 84.20% | 1.24% |
| Stocks | 0.00% | 0.00% | 2.07% | 24.52% |
| Preferred Stocks | 0.00% | -0.96% | 1.04% | 20.80% |
| Other | 0.00% | -13.14% | 13.72% | 22.89% |
| Convertible Bonds | 0.00% | 0.00% | 1.44% | 21.25% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | JMST % Rank | |
|---|---|---|---|---|
| Municipal | 83.08% | 15.02% | 100.00% | 98.08% |
| Cash & Equivalents | 16.92% | 0.00% | 84.20% | 1.41% |
| Derivative | 0.00% | 0.00% | 0.85% | 20.97% |
| Securitized | 0.00% | 0.00% | 6.51% | 22.67% |
| Corporate | 0.00% | 0.00% | 15.75% | 33.63% |
| Government | 0.00% | 0.00% | 84.56% | 25.95% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | JMST % Rank | |
|---|---|---|---|---|
| US | 83.08% | 15.80% | 141.34% | 97.63% |
| Non US | 0.00% | 0.00% | 28.07% | 81.12% |
JMST - Expenses
Operational Fees
| JMST Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.34% | 0.01% | 16.95% | 94.19% |
| Management Fee | 0.18% | 0.00% | 1.10% | 4.35% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.47% | 17.46% |
Sales Fees
| JMST Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.50% | 5.75% | N/A |
| Deferred Load | N/A | 0.25% | 5.50% | N/A |
Trading Fees
| JMST Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| JMST Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 153.00% | 0.00% | 299.40% | 98.97% |
JMST - Distributions
Dividend Yield Analysis
| JMST | Category Low | Category High | JMST % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.71% | 0.00% | 2.98% | 4.07% |
Dividend Distribution Analysis
| JMST | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| JMST | Category Low | Category High | JMST % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.55% | -1.65% | 6.48% | 86.30% |
Capital Gain Distribution Analysis
| JMST | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Dividend Payout History
| Date | Amount |
|---|---|
| Sep 04, 2020 | $0.029 |
| Aug 06, 2020 | $0.031 |
| Jul 07, 2020 | $0.038 |
| Jun 04, 2020 | $0.038 |
| May 06, 2020 | $0.046 |
| Apr 06, 2020 | $0.081 |
| Mar 04, 2020 | $0.052 |
| Feb 05, 2020 | $0.048 |
| Jan 03, 2020 | $0.000 |
| Dec 04, 2019 | $0.000 |
| Nov 05, 2019 | $0.000 |
| Oct 03, 2019 | $0.000 |
| Sep 05, 2019 | $0.000 |
| Aug 05, 2019 | $0.000 |
| Jul 03, 2019 | $0.069 |
| Jun 05, 2019 | $0.069 |
| May 03, 2019 | $0.075 |
| Apr 03, 2019 | $0.070 |
| Mar 05, 2019 | $0.076 |
| Feb 05, 2019 | $0.073 |
| Jan 03, 2019 | $0.071 |
| Dec 05, 2018 | $0.068 |
| Nov 05, 2018 | $0.033 |
JMST - Fund Manager Analysis
Managers
Richard Taormina
Start Date
Tenure
Tenure Rank
Oct 16, 2018
2.21
2.2%
Richard Taormina, Managing Director, has been an employee of JPMIM and/or its affiliates since 1997. Mr. Taormina is responsible for managing municipal mutual funds, institutional fixed income accounts and quantitative analysis. Previously, Mr. Taormina was a Certified Financial Planner for the Financial Advisory Group, where he was an investment analyst. Prior to joining the firm, Rick was a senior trader for national, high-yield, and state-specific funds at the Vanguard Group, where the team consistently performed in the top-quartile. He has been a municipal bond manager since 1990. Ricks holds a B.A. in economics from the University of Delaware, an M.B.A. in finance from Wilmington College, and is a Certified Financial Planner (CFP).
Josh Brunner
Start Date
Tenure
Tenure Rank
Oct 16, 2018
2.21
2.2%
Brunner, Executive Director and a CFA charterholder, has been an employee at JPMIM since 2001. Mr. Brunner is responsible for managing tax free managed income portfolios including credit customized portfolios.
Curtis White
Start Date
Tenure
Tenure Rank
Oct 16, 2018
2.21
2.2%
White is an Executive Director on the Municipal Strategies team within GFICC. An employee since 1997, Mr. White is responsible for managing mutual funds and separately managed accounts. Previously, Mr. White was responsible for managing municipal money market funds and separately managed accounts within the JPMorgan Global Liquidity team.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.06 | 35.78 | 6.92 | 0.16 |