FCALvsJMSTETF Comparison
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First Trust California Municipal High Income ETF (FCAL) and JPMorgan Ultra-Short Municipal Income ETF (JMST) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 3 sector exposures: FCAL is more expensive with a Total Expense Ratio (TER) of 0.65%, versus 0.18% for JMST. FCAL is up 0.72% year-to-date (YTD) with +$7M in YTD flows. JMST performs worse with 0.6% YTD performance, and -$482K in YTD flows. Run a side-by-side ETF comparison of FCAL and JMST below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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FCAL vs JMST performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/06/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FCAL JMST | -0.92%+0.03% | +0.56%+0.46% | +0.72%+0.60% | +4.76%+3.11% | +5.44%+9.94% | +0.75%+11.49% |
| Flows | FCAL JMST | +$2M+$199M | +$5M-$6M | +$7M-$482K | -$59M+$2.85B | +$95M+$3.88B | +$133M+$4.78B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FCAL JMST | +2.72%+0.36% | +3.75%+0.43% | +3.48%+0.42% | +3.41%+0.42% |
| Max drawdown | FCAL JMST | -2.53%-0.15% | -2.71%-0.30% | -5.57%-0.46% | -14.23%-0.94% |
| Max drawdown duration | FCAL JMST | 36d21d | 87d18d | 377d29d | 1713d491d |
Trading data
FCAL | JMST | |
Last sale 4/7/2026 at 1:30 PM | $49.12 | $50.88 |
| Previous close 04/07/2026 | $49.10 | $50.93 |
| Consolidated volume 04/07/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 4/7/2026 at 1:30 PM
Live
Closed
FCAL | JMST | |
|---|---|---|
| Last price | $49.12 | $50.88 |
| 1D performance | +0.04% | -0.10% |
| AuM | $208.62 M | $6.38 B |
| E/R | 0.65% | 0.18% |
Characteristics
FCAL | JMST | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | First Trust | J.P. Morgan Asset Management |
| Benchmark | - | - |
| N° of holdings | - | 437 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 20, 2017 | October 16, 2018 |
| ESG | No | No |
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Exposure
Countries
FCAL
Data will be available soon
JMST
USA
100%
Other
-0%
Sectors
FCAL
Data will be available soon
JMST
Municipal
8.92%
Other
91.08%
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Diversification
FCAL
Data will be available soon
JMST
Total weight of top 15 holdings out of 15
12.68%
Top 15 holdings
Data as of January 1, 1970
FCAL
Data will be available soon
JMST
US64972GZB30
1.23%
US93974FDR10
1.11%
US60412A2K82
0.95%
US89602RPE98
0.90%
US9788624C19
0.86%
US57421CHW73
0.85%
US87638TEH23
0.81%
US407287MX65
0.81%
US44244CN944
0.76%
US64966SMP82
0.76%
US57584Y8K87
0.76%
US64971XED66
0.76%
US1098536R78
0.72%
US7092248P76
0.72%
US4080543W28
0.71%
Frequently asked questions about FCAL and JMST
How have the FCAL and JMST ETFs performed in 2026?
As of April 6, 2026, FCAL is up 0.72% year-to-date (YTD), while JMST has returned 0.6%. That puts FCAL better performer ahead so far this year.
Which ETF is attracting more investor money: FCAL or JMST?
Year-to-date, the FCAL ETF saw +$7M in flows, compared to -$482K for JMST.
Which ETF is more volatile: FCAL or JMST?
Over the past year, FCAL had a volatility of 3.75%, while JMST experienced 0.43%.
Which ETF is bigger: FCAL or JMST?
As of April 6, 2026, FCAL holds $208.62 M in assets under management (AUM), while JMST manages $6.38 B.
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