FSMBvsJMSTETF Comparison
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First Trust Short Duration Managed Municipal ETF (FSMB) and JPMorgan Ultra-Short Municipal Income ETF (JMST) belong to the same industry segment: Municipal Bonds. In contrast, JMST's top sector exposures are Municipal and Sovereign. FSMB is more expensive with a Total Expense Ratio (TER) of 0.34%, versus 0.18% for JMST. FSMB is up 1.2% year-to-date (YTD) with +$152M in YTD flows. JMST performs better with 1.5% YTD performance, and +$1.66B in YTD flows. Run a side-by-side ETF comparison of FSMB 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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FSMB vs JMST performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FSMB JMST | -0.18%+0.14% | -0.98%+0.24% | +1.20%+1.50% | +1.39%+2.09% | +8.05%+9.81% | +4.23%+12.38% |
| Flows | FSMB JMST | +$32M+$587M | +$39M+$955M | +$152M+$1.66B | +$177M+$3.02B | +$251M+$5.55B | +$494M+$5.83B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FSMB JMST | +2.49%+0.73% | +1.58%+0.46% | +1.68%+0.44% | +1.64%+0.45% |
| Max drawdown | FSMB JMST | -2.71%-0.60% | -2.71%-0.60% | -2.71%-0.60% | -5.98%-0.92% |
| Max drawdown duration | FSMB JMST | 63d45d | 63d45d | 63d45d | 1149d337d |
Trading data
FSMB | JMST | |
Last sale 10/16/2026 at 1:30 PM | $19.64 | |
| Previous close 10/15/2026 | $19.62 | |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
FSMB | JMST | |
|---|---|---|
| Last price | $19.64 | – |
| 1D performance | +0.08% | – |
| AuM | $651.00 M | $8.01 B |
| E/R | 0.34% | 0.18% |
Characteristics
FSMB | JMST | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | First Trust | J.P. Morgan Asset Management |
| Benchmark | - | - |
| N° of holdings | - | 483 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 1, 2018 | October 16, 2018 |
| ESG | No | No |
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Exposure
Countries
FSMB
Data will be available soon
JMST
USA
25.31%
Other
74.69%
Sectors
FSMB
Data will be available soon
JMST
Municipal
24.23%
Other
75.77%
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Diversification
FSMB
Data will be available soon
JMST
Total weight of top 15 holdings out of 15
11.08%
Top 15 holdings
Data as of January 1, 1970
FSMB
Data will be available soon
JMST
USA, Bills 0% 10sep2026, USD (182D)
1.08%
US64972GZB30
0.97%
US93974FDR10
0.85%
US01170PBW59
0.80%
US60412A2K82
0.74%
US424092HZ03
0.71%
US644894QC44
0.68%
US6492284K61
0.68%
US57421CHW73
0.67%
US9788624C19
0.67%
US650860AZ26
0.66%
US543077YT22
0.66%
US083773EE76
0.64%
US87638TEH23
0.64%
District of Columbia, FRN 1jun2051, USD (2026C)
0.63%
Frequently asked questions about FSMB and JMST
How have the FSMB and JMST ETFs performed in 2026?
As of October 15, 2026, FSMB is up 1.2% year-to-date (YTD), while JMST has returned 1.5%. That puts JMST better performer ahead so far this year.
Which ETF is attracting more investor money: FSMB or JMST?
Year-to-date, the FSMB ETF saw +$152M in flows, compared to +$1.66B for JMST.
Which ETF is more volatile: FSMB or JMST?
Over the past year, FSMB had a volatility of 1.58%, while JMST experienced 0.46%.
Which ETF is bigger: FSMB or JMST?
As of October 15, 2026, FSMB holds $651.00 M in assets under management (AUM), while JMST manages $8.01 B.
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