FTMSvsJMSTETF Comparison
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Franklin Short-Term Municipal Income ETF (FTMS) and JPMorgan Ultra-Short Municipal Income ETF (JMST) belong to the same industry segment: Municipal Bonds. FTMS's top 1 sector exposures are Municipal. In contrast, JMST's top sector exposures are Municipal and Sovereign. FTMS is more expensive with a Total Expense Ratio (TER) of 0.22%, versus 0.18% for JMST. FTMS is down -0.98% year-to-date (YTD) with +$73M in YTD flows. JMST performs better with 1.53% YTD performance, and +$1.67B in YTD flows. Run a side-by-side ETF comparison of FTMS 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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FTMS vs JMST performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FTMS JMST | -0.29%+0.18% | -1.34%+0.29% | -0.98%+1.53% | n/a+2.11% | n/a+9.84% | n/a+12.39% |
| Flows | FTMS JMST | +$25M+$592M | +$45M+$940M | +$73M+$1.67B | -+$3.02B | -+$5.55B | -+$5.84B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FTMS JMST | +2.06%+0.73% | n/a+0.46% | n/a+0.44% | n/a+0.45% |
| Max drawdown | FTMS JMST | -2.33%-0.60% | n/a-0.60% | n/a-0.60% | n/a-0.92% |
| Max drawdown duration | FTMS JMST | 92d45d | n/a45d | n/a45d | n/a337d |
Trading data
FTMS | JMST | |
Last sale 10/16/2026 at 1:30 PM | $9.78 | |
| Previous close 10/15/2026 | $9.79 | |
| 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
FTMS | JMST | |
|---|---|---|
| Last price | $9.78 | – |
| 1D performance | -0.10% | – |
| AuM | $232.32 M | $8.02 B |
| E/R | 0.22% | 0.18% |
Characteristics
FTMS | JMST | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Franklin Templeton | J.P. Morgan Asset Management |
| Benchmark | - | - |
| N° of holdings | 47 | 483 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 24, 2025 | October 16, 2018 |
| ESG | No | No |
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Exposure
Countries
FTMS
USA
24.57%
Other
75.43%
JMST
USA
25.31%
Other
74.69%
Sectors
FTMS
Municipal
24.57%
Other
75.43%
JMST
Municipal
24.23%
Other
75.77%
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Diversification
FTMS
Total weight of top 15 holdings out of 15
16.97%
JMST
Total weight of top 15 holdings out of 15
11.08%
Top 15 holdings
Data as of August 31, 2026
FTMS
Southeast Energy Authority, 5.25% 1mar2055, USD (2025B)
1.45%
US091097AA35
1.31%
US69068WAD56
1.20%
US81640AAB98
1.18%
Main Street Natural Gas Inc., 4% 1jul2052, USD (2021A)
1.16%
California State University, 0.55% 1nov2049, USD (2016B-2)
1.13%
US686865AR74
1.11%
Texas Municipal Gas Acquisition and Supply Corp., 5% 1apr2036, USD (2026)
1.09%
Kentucky Public Energy Authority, 5% 1dec2033, USD (2025)
1.06%
City of Los Angeles, 5% 24jun2027, USD (2026)
1.06%
California Community Choice Financing Authority, 5% 1nov2055, USD (2024G)
1.05%
US717883J787
1.05%
Newark, 4.25% 5may2027, USD (2026)
1.05%
US352410CV42
1.04%
US773661AB90
1.04%
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 FTMS and JMST
How have the FTMS and JMST ETFs performed in 2026?
As of October 16, 2026, FTMS is down -0.98% year-to-date (YTD), while JMST has returned 1.53%. That puts JMST better performer ahead so far this year.
Which ETF is attracting more investor money: FTMS or JMST?
Year-to-date, the FTMS ETF saw +$73M in flows, compared to +$1.67B for JMST.
Which ETF is bigger: FTMS or JMST?
As of October 16, 2026, FTMS holds $232.32 M in assets under management (AUM), while JMST manages $8.02 B.
What sectors do the FTMS and JMST ETFs invest in?
FTMS leans toward sectors like Municipal. Meanwhile, JMST focuses on Municipal.
What are the top holdings of the FTMS ETF and JMST ETF?
FTMS top holdings include Southeast Energy Authority, 5.25% 1mar2055, USD (2025B), US091097AA35 and US69068WAD56. JMST holds in its top three: USA, Bills 0% 10sep2026, USD (182D), US64972GZB30 and US93974FDR10.
Which ETF is more diversified: FTMS or JMST?
FTMS holds 253 securities with 16.97% of its assets in the top 15. JMST has 1542 securities and a top 15 weight of 11.08%.
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