Which returned more over the last year, JMST or SUB?

In the year to Oct 9, 2026, with distributions reinvested, JMST returned +1.9% and SUB +0.8%.

Which is cheaper, JMST or SUB?

SUB is cheaper, by 0.11 percentage points a year. That is about $11 on $10,000 held for a year. Fees come from each fund's prospectus.

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JMST vs SUB: Differences, Returns & Fees

On May 31, 2026 JMST's duration was 0.9 years and SUB's 1.8; SUB charges 0.07% to JMST's 0.18%. Net assets on Oct 9, 2026: $7.9bn for JPMorgan Ultra-Short Municipal Income ETF and $12.3bn for iShares Short-Term National Muni Bond ETF.

SUB costs 0.11 points a year less; their one-year returns differ by 1.1 points; SUB is 1.6 times larger.

	JMST	SUB
Expense ratio	0.18%	0.07%
Net assets	$7.9bn	$12.3bn
Total return, 1 year	+1.9%	+0.8%
What it tracks	No index, actively managed	ICE Short Maturity AMT-Free US National Municipal Index
Holdings in common	3%

Holdings in common uses holdings dated May 31, 2026.

+1.9%

JMST total return, 1 year

+0.8%

SUB total return, 1 year

0.18%

JMST expense ratio

0.07%

SUB expense ratio

What they hold in common

By the books each fund has filed, JMST and SUB hold 3% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated May 31, 2026.

50%

half

3% in common

Positions both hold, largest shared weight first

Holding JMST SUB

City of Houston, Combined Utility System, First Lien, Series 2018C, due May 15, 2034 0.63% 0.21%

State of Illinois, Series 2017D, due Nov 1, 2026 0.31% 0.16%

City of New York, Fiscal Year 2026, Series 2026B, Subseries B-1, due Aug 1, 2030 0.11% 0.21%

Pennsylvania Turnpike Commission, Series 2020, due Dec 1, 2039 0.60% 0.07%

State of New Mexico Severance Tax Permanent Fund, Series 2022A, due Jul 1, 2026 0.07% 0.13%

State of Illinois, Series 2017D, due Nov 1, 2028 0.06% 0.12%

State of Illinois, Series 2017C, due Nov 1, 2029 0.06% 0.15%

New York City Transitional Finance Authority Future Tax Secured Fiscal Year 2026, Series 2026, Subseries D-1, due Nov 1, 2030 0.06% 0.21%

Curators of the University of Missouri (The), Series 2024, due Nov 1, 2026 0.06% 0.06%

State of Connecticut, Series 2026B, due Sep 15, 2031 0.13% 0.05%

County of Clark, Limited Tax, Series 2016B, due Nov 1, 2027 0.05% 0.13%

New York State Dormitory Authority, School Districts Financing Program, Series 2026A, due Oct 1, 2029 0.13% 0.05%

Only in JMST

New York City Municipal Water Finance Authority, Water and Sewer System, Second General Resolution, Fiscal year 2021, Series 2021, Subseries EE2, due Jun 15, 2045 1.02%

State of Washington, Various Purpose, Series R-2026A, due Jul 1, 2029 0.90%

Alaska Housing Finance Corp., Home Mortgage, Series 2007A, due Dec 1, 2041 0.86%

State of Minnesota, Various Purpose, Series 2025D, due Aug 1, 2027 0.78%

Township of Woodbridge, due Oct 9, 2026 0.71%

Maryland Health and Higher Educational Facilities Authority, University of Maryland Medical System, Series 2025C-1, due Jul 1, 2055 0.71%

Bergen County Improvement Authority (The), Guaranteed Government Pooled Project, Series 2026A, due May 19, 2027 0.68%

Tarrant County Cultural Education Facilities Finance Corp., Texas Health Resources System, Series 2012B, due Nov 15, 2047 0.67%

Only in SUB

County of King, Series 2024, due Jan 1, 2042 0.35%

San Antonio Water System, Series 2025D, due May 1, 2055 0.28%

City of Seattle, Series 2023B, due Nov 1, 2046 0.27%

State of California, due Aug 1, 2029 0.27%

Empire State Development Corp., Series 2022A, due Sep 15, 2028 0.25%

Pennsylvania Turnpike Commission, Series 2023B, due Dec 1, 2043 0.25%

University of California, Series 2025CD, due May 15, 2030 0.25%

New Jersey Turnpike Authority, Series 2025B, due Jan 1, 2030 0.25%

Check overlap with more funds →

On the same fields

JMST

JPMorgan Ultra-Short Municipal Income ETF

SUB

iShares Short-Term National Muni Bond ETF

Where it sits Bond ETF Bond ETF

Issuer JPMorgan iShares

What it is Actively managed Tracks an index

Total return, 1 year +1.9% +0.8%

S&P 500 over the same days +17.3% +17.3%

Gap to the S&P 500 −15.3 pts −16.4 pts

Expense ratio 0.18% 0.07%

Holdings 1851 3057

Net assets $7.9bn $12.3bn

JMST and SUB on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

JMST in plain words

JMST is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned +1.9% with distributions reinvested. The prospectus expense ratio is 0.18% a year.

SUB in plain words

SUB tracks an index. Over the year to Oct 9, 2026 it returned +0.8% with distributions reinvested. The prospectus expense ratio is 0.07% a year.

Questions people ask

Which returned more over the last year, JMST or SUB?: In the year to Oct 9, 2026, with distributions reinvested, JMST returned +1.9% and SUB +0.8%.
Which is cheaper, JMST or SUB?: SUB is cheaper, by 0.11 percentage points a year. That is about $11 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

JMST vs SMMU JMST vs VTES JMST vs SHM JMST vs MEAR SUB vs VTES SUB vs TAFI SHM vs SUB MEAR vs SUB

JMST on its own →SUB on its own →Hold both: look the portfolio through →Rankings →Standards and sources →

Where these figures came from

JMST filings on SEC EDGAR ↗JMST prospectus with the expense ratio (SEC) ↗JPMorgan website ↗SUB filings on SEC EDGAR ↗SUB prospectus with the expense ratio (SEC) ↗iShares page for SUB ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, JMST against SUB, data as of Oct 9, 2026. https://etfiq.com/compare/any/jmst-vs-sub

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.