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JMST vs TAFI: Differences, Returns & Fees

On May 31, 2026 JMST's duration was 0.9 years and TAFI's 1.9; JMST charges 0.18% to TAFI's 0.27%. Net assets: $7.9bn on Oct 9, 2026 for JPMorgan Ultra-Short Municipal Income ETF, and $1.4bn on Oct 8, 2026 for AB Tax-Aware Short Duration Municipal ETF.

JMST costs 0.09 points a year less; their one-year returns differ by 1.4 points; JMST is 5.5 times larger.

JMSTTAFI
Expense ratio0.18%0.27%
Net assets, as of Oct 8, 2026$7.8bn$1.4bn
Total return, 1 year+1.9%+0.5%
What it tracksNo index, actively managedNo index, actively managed
Holdings in common3%

Holdings in common uses holdings dated May 31, 2026.

+1.9%
JMST total return, 1 year
+0.5%
TAFI total return, 1 year
0.18%
JMST expense ratio
0.27%
TAFI expense ratio

What they hold in common

By the books each fund has filed, JMST and TAFI 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.

half

3% in common

Positions both hold, largest shared weight first
Holding JMST TAFI
Texas Municipal Gas Acquisition and Supply Corp. IV, Gas Supply, Series 2023A, due Jan 1, 2054 0.36% 0.34%
City of Jersey City, Series 2025C, due Oct 20, 2026 0.42% 0.33%
City of Somerville, Series 2025B, due Jul 1, 2026 0.29% 0.24%
Hampton Roads Transportation Accountability Commission, Transportation Fund, Senior Lien, Series 2021A, due Jul 1, 2026 0.32% 0.19%
2026 Loan Holding-1, Series CR-2026, due Oct 1, 2027 0.45% 0.19%
Tarrant County Cultural Education Facilities Finance Corp., Health Resources System, Series 2025B, due Nov 15, 2064 0.33% 0.17%
Harris County Cultural Education Facilities Finance Corp., Memorial Hermann Health System, Series 2024C, due Jul 1, 2054 0.17% 0.30%
Jersey City Redevelopment Agency, Bayfront Redevelopment Project, Series 2025A, due Dec 9, 2026 0.21% 0.16%
State of Illinois, Series 2017D, due Nov 1, 2026 0.31% 0.16%
Oklahoma City Public Property Authority, Sales Tax, Series 2026, due Jun 1, 2029 0.15% 0.17%
County of Miami-Dade Water and Sewer System, Series 2025B, due Oct 1, 2026 0.19% 0.13%
Tarrant Regional Water District Water Supply System, Series 2026, due Mar 1, 2027 0.11% 0.12%
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 TAFI
COLORADO ST EDUC LOAN PROGRAM, due Jun 30, 2026 1.53%
TRIBOROUGH NY BRIDGE & TUNNEL AUTH REVENUES, due Jan 1, 2031 0.97%
QUINCY MA, due Jul 24, 2026 0.68%
PUERTO RICO CMWLTH, due Jul 1, 2027 0.63%
UNIV OF CALIFORNIA CA REVENUES, due May 15, 2030 0.61%
ILLINOIS ST FIN AUTH REVENUE, due Nov 15, 2037 0.56%
NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE, due Jan 1, 2030 0.55%
COLORADO ST EDUC LOAN PROGRAM, due Jun 30, 2026 0.53%

Check overlap with more funds →

On the same fields

JMST
JPMorgan Ultra-Short Municipal Income ETF
TAFI
AB Tax-Aware Short Duration Municipal ETF
Where it sits Bond ETF Bond ETF
Issuer JPMorgan AllianceBernstein
What it is Actively managed Actively managed
Total return, 1 year +1.9% +0.5%
S&P 500 over the same days +17.3% +17.3%
Gap to the S&P 500 −15.3 pts −16.8 pts
Expense ratio 0.18% 0.27%
Holdings 1851 684
Net assets, JMST as of Oct 9, 2026 and TAFI as of Oct 8, 2026 $7.9bn $1.4bn

JMST and TAFI 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.

TAFI in plain words

TAFI is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned +0.5% with distributions reinvested. The prospectus expense ratio is 0.27% a year.

Questions people ask

Which returned more over the last year, JMST or TAFI?
In the year to Oct 9, 2026, with distributions reinvested, JMST returned +1.9% and TAFI +0.5%.
Which is cheaper, JMST or TAFI?
JMST is cheaper, by 0.09 percentage points a year. That is about $9 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
JMST vs SMMUJMST vs SUBJMST vs MEARCGSM vs JMSTSUB vs TAFITAFI vs VTESSHM vs TAFISMMU vs TAFI
JMST on its own →TAFI 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 ↗TAFI filings on SEC EDGAR ↗TAFI prospectus with the expense ratio (SEC) ↗

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 TAFI, data as of Oct 9, 2026. https://etfiq.com/compare/any/jmst-vs-tafi

Open data

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